Full text of Commercial and Financial Chronicle : May 30, 1891 : Investors' Supplement, Vol. 52, No. 1353

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OF THF

C

ommercial

&F

inancial

C hronicle.

[Bntered according: to act of Congress, Inthe year 1891. by Wm. B. Dana S Co., in the office of the Librarian of Congress, Washington, D. CJ
s

YOL. 52.

NEW

YORK, MAY

30, 1891.

.........................- ...................................................

INVESTORS*

SUPPLEMENT.

TERM S :
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W IL L IA M

B . D A N A & CO., P u b lish ers,
102 William Street, New York.

N ote .—Our State , City and T own Supplement which we have here­
tofore promised is still delayed by the unexpected labor involved in its
preparation. We shall announce the day of publication as soon as we
oan definitely fix it. In the meantime we are glad to be able t i promise
a far more elaborate and complete compilation than even we designed
at the Btart.

CONTENTS.

JTAUh.
6

R ailroads—Railroad Maps, Tables and Remarks...............................
Canals—See Miscellaneous Pages (except Delaware & Hudson,

among railroads)...................................................................................144

M iscellaneous Companies...............
144
T rust Companies ............................................................................................. 153
Gas Companies—New York and Brooklyn (See also larger com­

panies under “ Miscellaneous.” ) .................... .................................... 154

B anks—N ew Y ork Cit y ..........................
154
I nsurance Compa ies—New York City........................................
154
H orse -Car Companies—New York City andBrooklyn.......................154
R ailroad M onthly E arnings for F our Y ears ................................. 155

LOW-PRICED RAILROAD STOCKS.
In the March number of the I n v e s t o r s * S u p p l e ­
an article was published commenting upon some
of the low-priced issues of railroad bonds, and it is
proposed now to review briefly the situation as to lowpriced stocks. What inducement is there to purchase
railroad stocks that are selling about 30 or below that
figure, with the purpose of laying them aside, or
<(locking them up** as the common expression goes,
and waiting for a considerable rise in their values ?
The experience of the past is not a certain guide in
such matters. The circumstances affecting values of
railroad stocks vary greatly from year to year and still
more in periods of ten years taken together; and to­
day the whole railroad situation is vastly different from
what it was in 1881. If we were getting now the
freight and passenger rates of 1881, jiet earnings would
be so large as to lead stockholders to expect the oldfashioned bonanzas in the shape of 100 per cent stock
dividends, and new railroads would be springing into
existence with a mushroom growth that would augur
sure disaster in the future. As a matter of fact, in
May, 1881, the market was experiencing an era of
extraordinary buoyancy, stimulated by the last of Mr.
Windom*s very successful government funding opera­
tions. In that month and the June following
many of the non-dividend paying stocks touched the
m ent




-

.

-

highest figures they have ever reached since the
beginning of that era of prosperity which attended the
resumption of specie payments on January 1, 1879St. Paul in those months touched 129 ; Denver & Rie
Grande 113; old I. B. & W. 100; Lake Erie & Western
65; L. New Alb. & Chicago 117; Mo. Kansas & Texas.
54; Mobile & Ohio 39; Erie 51; N. Y . & N. England
84; Ontario & Western 40; Northern Pacific 46; pref88; Ohio & Miss, common 46; Reading 62; Texas &
Pacific 73; Union Pacific 130; Wabash St. Louis &
Pac. common 60 and the preferred 96. These are
prices that remind one of the golden days of California
in 1849-50, but the tide in May and June, 1881, was at.
its highest point, and from the shooting of President
Garfield, on July 2, the current changed and there was
a backward turn from which no full recovery ever took
place, the market eventually drifting on to the Grant
& Ward panic of May, 1884.
It is obvious, then, that an examination of stock
prices in May and June, 1881, and their course subse­
quently, would be of little practical use in throwing
light upon the probable value of stocks that are now
selling at low prices in our market. But the samo
assertion may not apply to a later period, and if we
look back five years to May, 1886, and take note of the
stocks that were then selling about 30 or under that
price, and see what their course has been from that time
to the preserft, the inquiry cannot be without much
interest, and it may also be of use in throwing some
light upon the probable future course of stocks that
are now selling at low figures.
The five-year period from May, 1886, to May, 1891,.
was a remarkably good one for the railroads, except in
the important matters of legislation (including the
Inter-State Commerce Act) and the reduction of rates
by excessive competition. Taking all the Pennsyl­
vania Railroad lines and controlled roads east and west
of Pittsburgh as a fair example of a great system
having diversified traffic, and we find that the gross
earnings in 1886 were about $102,000,000 and in 1890
$134,000,000, while the net earnings in 1886 were $35,000,000 and in 1890 $42,000,000. The increase in
tonnage and passenger traffic throughout the country
was very large ; the industrial development in certain
sections was enormous ; the crops in general were above
an average ; the growth of cities on the railroad lines
was all that the most sanguine .could have expectedUpon the whole the advantages accruing to the rail­
roads from growth of the country, increased tonnage
and general development during that time have beenquite up to an average, and fully equal to what may bo
expected in other five-year periods. What then has
been the course of the low-priced stocks of May, 1886 ?

i N YE ST ORS’ SUPPLEMENT,

[Y ol. L il.

How Jiave buyers fared who took them then and held present time within the same range. To make the
them till the present time ? What is the best that they exhibit more complete in its historical bearing, four
•could have done if they had sold at the highest price columns have been added showing the highest prices
touched in any of the intermediate years, 1887, 1888, ■ reached by these stocks respectively in each of the
:
calendar years 1887, 1888, 1889 and 1890 ; as this table
1889 or 1890 ?
To put the matter in a simple but comprehensive is quite general in its character, fractions of prices are
shape the table below has been prepared, showing all omitted and only the round figures are given. The
railroad stocks of any prominence on the New York notes in regard to changes in various stocks, owing to
Stock Exchange that were selling in May, 1886, from foreclosures, reorganizations, etc., will be found at the
about 30 downward, and those that are selling at the foot, numbered consecutively..
LOW-PRICED STOCKS IN MAY, 1886, AND IN MAY, 1891, AND rH E HIGHEST POINT TOUCHED IN 1887, 1888, 1889 AND 1890.
[Fractions of a price in all cases omitted.]
May,
- Highest in Each Year.— * May 25,
—
May, ■ Highest in Each Year.— >May 25,
—
1886. 1887.
1888. 1889. 1890. 1891.
1888. 1889. 1890. 1891.
1886; 1887.
33
15*
31
Louisv. St. L. & Texas.......
50
58
99
118
Atchison (1)......................... 85
21*
5*
22
16
18
31
Mexican Central................
7
9
8
10
15
8
Atlantic & P a cific.............
35
20
9
7
5*
Minneapolis & St. Louis... 20
8
35
30
50
74
Buff. Roch. & Pittsb’g (2) ...
11*
14
20
Preferred.......................... 46
48
18
4
5
Rochester & Pittsburg...
11
34
20
16
30* Mo. Kansas & Texas (13).. 28
18
35 ;
30
29
50
Burl. Cedar Rap. & North. 60
31
25
Preferred..........................
15
10
15
Central Iowa (3 )................ 17
42
13
15
31
19
12
8* Mobile & Ohio..................... 13
11
Iowa Central, common..
13*
20
16
17
18
25* N. Y. Chic. & L., com.(14)..
8
33
30
Preferred.......................
37
Preferred.......................... 18
31*
36
36
37
43
Central Pacific.................... 41
32
37
42
29*
2d preferred....................
17*
27
28
22
9
8
Chesapeake & Ohio (4). : . . .
12
N. Y. L. Erie & Western... 26
35
30
30
29
48
66
69
20
17
1st preferred.................... 16
66
53
53
52
36
N. Y. & New England....... 38
29
46
21
46
11
2d preferred..................... 10
24
23
32
20
23
26* N. Y. & Northern pref........
36
42
37
54
Chic. St. Paul Minn. & Om. 43
22
20
19
22
17
N. Y. Ontario & W estern.. 17
18
19
17
22
Chic. St. Louis & Pittsb.(5) 11
11
14
9
9
8*
7
N. Y. Susquehanna & West.
53
45
41
52
Preferred.......................... 30
34
37
37
30*
38
17
Preferred.......................... 22
14
Pittsb, Cin. Chic. & St. L.
22
24
16*
23
23
Norfolk & Western............. 12
62
55
Preferred.......................
53*
55
58
61
66
32
27
Preferred.......................... 33
28
36
39
Còl. Hock. Yal. & Tol........ 33
34
29
36
39
25
18* Northern Pacific................ 26
21
18
23
32
Denver & Rio Grande (6).. 16
24
32
26
27
lì
Ohio & Mississippi............ 22
20
17
23
Denver & Rio Gr. West. (7)
24
22
16*
42
17
18
Ohio Southern..................... 16
24
Rio Grande Western.......
46
31
58
72
Oregon Short Line (15)_
_ 22
55
Preferred.......................
60
56
27
11
7* ' Oregon Short Line & U. N.
11
11
1
17
East Tenn. Ya. & Ga. (8)...
32
50
71
69
48
15* Phil. & Reading (16).......... 24
27
25
32
27
2d pref erred........... .-........
29
30
23* Pittsburg & Western (17)..
39
31
47
37
Flint & Pere Marquette— 22
41
34*
47
38
Preferred..........................
21
46
62
Ft. Worth & Den. City (9).. 21
Iff*
24
39
28
28
20* Peoria Decatur & Evansv. 23
38
Union Pac. Den. & Gfulf.
16
53
29
27
28
7* Rich. & West Point Term .. 31
10
12
7
17
Green Bay Win.& St.P.(10) 12
33*
45
48
50
46
St. Louis Alton & Terre H.. 35
16
28
Preferred..........................
14
12
10
25
16
13
4' St. Louis Ark. & Tex. (18).
7
23
4:5
Houst & Texas Cent. (11). 36
44
30
36
36
t
St. Louis & San Francisco . 23
12
19
27
Ind. Bloom. &West. (12)... 24
64
40
31*
95
38
St. Paul & Duluth............. . 66
—
13
9
17
Ohio Ind. & West, com ...
12
5
17
7
South Carolina.................. . 13
25
—
29
27
Preferred.......................
24
14
23
28
35
15
7* Texas & Pacific (19).......... . 10
Peoria & Eastern.............
42
17*
27
35
16
15* Toledo Ann Arbor & N. M
Kanawha & Michigan........
16
22
16
18
7
14* Wabash St. L. & Pac. (20) .
19
20
19
24
Lake Erie & Western (12a). 12
34
33
30
38
Preferred..................... . 18
31
28*
Louisv. Evansv. & St. L . . .
11
15
Wabash..................... .
54
26
67
45
49
Louisv. New Alb. & Chic... 39
22
31
....
70
64
Preferred.... — ........
64
33*
58
Memphis & Charleston...... 30
* Approximate price.

tAtchison stock was exchanged for

is—on the basis of three Atchison for four St. L. & S. F.

12. The Ind. Bloomington & Western was foreclosed in 1887 and re­
1. The Atchison Topeka & Santa Fe Railroad w a» reorganized in
1889-90 without foreclosure knd without any assessment or charge on organized as the Ohio Ind. & Western Railway the old stock receiving
new O. I. & W. common stock without paying any assessment. The O.
the stock.
2. The Buffalo Rochester & Pittsburg was organized in 1887 as I. & W. was foreclosed February, 1890, and reorganized as Peoria &
Chicago
successor of the Rochester & Pittsburg, foreclosed in 1885. The stock Eastern, and road was leased to Cleveland Cincinnati $100 each& St.
The Ohio Indiana
took
o f the R. & P. was exchanged for new B. R. & P. stock on the basis of Louis. Peoria & Eastern & Western preferred shares of and shares of
$75 in
2nd mortgage income bonds,
four shares of old for one of new.
common stock, $100 each, took $50 m new Peoria & Eastern stock
3. The Central Iowa was reorganized in 1888 and succeeded by the without paying an assessment.
present Iowa Central. The former Central Iowa common stock was
12a. The Lake Erie & Western was foreclosed
assessed $15 per share, receiving new common stock and taking for and old stockholders paid an assessment of 12 per in December, 1886,
cent, receiving new
the amount of the assessment new preferred stock at par.
common stock par for par, and for the assessment new preferred
4. The Ches. & Ohio Railway was reorganized in 1888 without fore­ stock.
closure and the old stocks were assessed respectively $4 per share on
13. The Missouri Kansas &
1890, the old
first pref., $6 on second pref. and $8 on common, all receiving new common stock being assessed Texas was reorganized^ new common,
common stock share for share, and taking new second pref. for the stock par for par, and new 2nd10 per cent and receiving cent assess­
mort. bonds for the 10 per
amount of assessment paid.
ment.
5. The Chic. St. Louis & Pittsburg was merged in the Pittsburg Cin.
14.
York
Railway
Chic. & St. Louis in 1890, the common stock was exchanged on the basis ■ 1887, The New stocksChicago & St. Louis per cent was foreclosed in May,
the old
being assessed 10
and receiving 50 per
of new shares par for par, and the pref. stock received two-thirds of its cent of their face value in the new preferred and common stocks res­
face in new Pittsburg Cincinnati Chicago & St. Louis preferred and pectively, and for the 10 per cent assessment new first preferred
one-third in common.
: , i stock.
.
15. The Oregon Short Line stockholders received par for par m new
6. The Denver & Rio Grande was foreclosed and reorganized in 1886
and the old stock was assessed $6 per share, for which assessment $12 shares of the Oregon Short Line & Utah Northern Consolidated Com­
in new pref. stock was given.
• , .
, < -•i * i pany.
7. The Denver & Rio Grande Western was reorganized in 1889 with­
16. In the reorganization of 1888, effected without foreclosure, the
out foreclosure, and the old stock received new common stock, par for holders of old common stock paid an assessment of 20 per cent, receiv­
par, without paying any assessment.
I ing new common stock at par and first pref. income bonds for the
8. The East Tenn. Va. & Ga. Railroad was reorganized in 1886; the amount of cash assessment paid.
old pref. stock was assessed $6 per share, receiving new common stock
17. The Pittsburg & Western was foreclosed in 1887, and old stock­
par for par, and new 2d pref. for the amount of assessment; the old holders paid 4 per cent assessment on their stock, taking new common
common was assessed $2 40 per share, receiving new 2d pref. for stock and receiving 8 per cent in new pref. stock for the assessment
the amount of this assessment, and taking $40 in new common stock paid.
fpr each $100 of old.
18. The St. Louis Arkansas & Texas was foreclosed in 1890, the old
9. The Fort Worth & Denver City stock was mostly exchanged into stock paying an assessment of 8 ^ per cent and receiving new stock
the Denver Texas & Fort Worth, and this latter was merged m 1890 (in May, 1891, of the St. Louis Southwestern) par for par, and also
into the Union Pacific Denver & Gulf consolidation.
10 per cent in new second mortgage income bonds for the assessment
10. The Green Bay Winona & St. Paul Railroad is in the possession of paid.
the Farmers’ Loan & Trust Company as receivers, pending the comple­
19. The Texas & Pacific was reorganized in 1888 and old stockholders
tion of the reorganization plan of 1889. By this plan the common and paid an assessment of 10 per cent, receiving new stock par for par and
ref. stock each paid an assessment of $5 per share and received $5 in ten per cent in new 2nd mortgage income bonds tor the assessrst mortgage bonds and $6 in stock of the Winona & Southwestern
20. The Wabash St. Louis & Pacific was foreclosed in 1889, the old
Railroad Company, which forms an extension line for the G. B. W. &
stockholders paying assessments of 8 per cent on the preferred and 6
St. P.
per cent on the common stock, and receiving respectively new preferred
11.
The Houston & Texas Central Railway was foreclosed in 1888, and
old stockholders were assessed $71 40 per share (not finally completed " i d common shares for the old and new debenture bondp. for the
amount of the assessments paid.
till 1891) to obtain par for par of their shares in the new company.

S




Ma y , 1891.]

INVESTORS’

SUPPLEMENT.

3

The general theory about railroad stocks in the a profit over the prices of 1886, while many would show
United States is this— that the country is growing with large losses. But several of these stocks would have
great rapidity, that population and agricultural and yielded handsome profits if sold at the best prices
industrial development are increasing in every direc­ reached during the year or two in which their reorgani­
tion, and it is only necessary to purchase a railroad zations were pending, or following their completion. In
stock at a low price and hold it for a few years to the enthusiasm of this period, sometimes supported by
realize a handsome profit. This is an excellent theory an exhibit of large earnings, the stocks became quite
in itself, and one which has proved true in many in­ buoyant. The largest net profit shown to-day over the
stances since the commencement of railroads in the prices of May, 1886, on the stocks of railroads that have
United States, about the year 1830. But unfortunately since then undergone reorganization are on the Ches. &
there have been many exceptions to the rule, and a large Ohio, Denver & Rio Grande Western, now Rio Grande
majority of our new railroads have passed through Western, Rochester & Pittsburg, and the Mexican
bankruptcy and their whole debt and stock been re­ Central, though perhaps we can hardly call the reduc­
organized long before they reached a dividend-paying tion of interest on the Mexican Central debt and the
basis. Many roads have also been reorganized with so re-adjustment of its finances a strict reorganization.
large an amount of debt, income bonds and preferred
How then does the outlook for low-priced stocks at
stock as to make the question of earning dividends on the present time compare with that of May 1886 ? It
the common stock a matter highly problematical for is vastly improved in many respects. In the first place
many years to come. But still there is great vitality the prospect of any considerable number of foreclosures
in railroad property, the growth in business has cer­ or reorganizations is much less than it was at the
tainly been enormous, and a study of the course of former date, and while we have seen that out of 42
prices and the drift of railroad affairs during the past roads on the list 17 were actually foreclosed or reorgan­
five years cannot be without much profit to the careful ized, with large concessions from the stockholders, it
reader.
would be difficult now to pick out of our list of 50
There are stocks in this list representing fifty differ­ railroads any five companies which are in danger of
ent railroads, and of these all but eight were on the going to default in the future, excepting of course the
Stock Exchange list in some form in 1886— the Denver three companies that are now in the hands of receivers
& Rio Grande West., Kanawha & Michigan, Louisville pending reorganization, these three being the Green
Evansville & St. Louis, Louisville St. Louis & Texas, Bay Winona & St. Paul, Minneapolis & St. Louis and
N. Y . & North., Pittsburg & Western, St. Louis Ark. & the South Carolina ; the Mo. Kansas & Texas has been
Texas and Toledo Ann Arbor & North Michigan having fully reorganized and the receivers will be discharged
come on since. Of the remaining 42 roads, we find that 11 next month. Since 1886 the railroads have been pur­
were foreclosed, 5 were reorganized without foreclosure suing a course of great conservatism in the reduction
but submitting to large concessions, 4 were consolidated of their obligatory interest charges, and this redounds
and took new stock, 3 are in receivers* hands awaiting directly to the advantage of their stocks, in giving them
foreclosure or reorganization, and 19 of the stocks a longer chance of life and taking away the risk of
remain substantially unchanged. Taking five of the foreclosure or assessment.
latter that were and are leading stocks, what would the
While there are few instances of profits shown on
result have been if a purchaser had bought them all stocks bought in May, 1886, and held till the present
at the highest price in May, 1886, and held.them till the time, there are many eases where large profits would
present time ? Erie then sold at 26, reached 35 in 1887, have been realized if the stocks had been sold at the
30 in each of the next two years, 29 in 1890 and sells highest market prices reached in the intermediate
now at 20-21; there would have been a good profit in years. And this observation gives the key to the
selling at the higher prices reached, and a loss if held general situation, and leads to the conclusion that
till the present of at least. 5 points. Mobile & Ohio there is not much inducement for outsiders to buy the
sold in May, 1886, at 13, reached 31 in 1890 as the low stocks and hold them in the hope that they will
highest point for four years and sells now about 42. become early dividend payers, though there may be a
N. Y . & New England sold at 38 in May, 1886, touched number of these stocks that are a fair purchase with
66, 53, 53 and 52 respectively in tbe four years follow­ the view of taking them off the market and holding
ing, and sells now about 36. Northern Pacific sold at them, for some years if necessary, in order to sell thenr
;26 in May, 1886, touched 34, 29, 36 and 39 in the four at a much better price. This is not a strict investment
calendar years succeeding 1886, and sells now about 25. business, but it is not essentially different from buying
Ohio & Miss., the last of the group, sold at 22 in vacant lots with a view of holding them for a rise in
May, 1886, touched 32, 26, 24 and 27, in the four the real estate market. The interest loss on stocks
years following 1886, and sells now about 19.
under 30 is moderate— thus, 100 shares at 25 cost,
As to dividends, we find that only three stocks that $2,500, on which the annual interest at 6 per cent is
were yielding no dividends in 1886 are now paying $150, or equivalent to 1£ points per year on the pur
regular dividends— these are the Central Pacific paying chase. To buyers of low-priced stocks with a view of
2 per cent per annum, Norfolk & Western pref. pay­ holding, a few words of suggestion may not be out of
ing 3 per cent, and Pitts. Cin. Chic. & St. Louis pref. place—(1) Look for the stocks of companies that have
(each two shares representing three shares of the Chic. no reasonable danger of ever going to default on their
St. L & Pitts, pref.), which has just paid its first divi­ bonds. (2) Give preference to those stocks which have
dend of 1 per cent from the earnings of the last quarter a broad market and the support of strong parties, and
of 1890. On the price of both of the last-named stocks if possible to those which are open for control and are
there would have been a fair profit if held till date.
not already leased, “ trusteed” or otherwise fixed so
As to the railroads that have undergone forclosure, that a majority of their stocks will not carry control of
or reorganization without foreclosure, the showing at the companies. (3) Consider which stocks represent
•date is not very encouraging.
Counting the assess­ live properties that are presumably capable of growth
ments paid there are few that would now show much of and development under good management.




INVESTORS’

4
IN D E X

SUPPLEMENT.

[V ol. LII,

TO RAILROADS— CONSOLIDATED, &c.

T h e nam es o f com pa n ies n o t g iv e n in th e S u p p l e m e n t tables in th eir alph abetical ord er w ill b e fo u n d in th e In d e x b e lo w .
M a n y railroads h av e lost th eir orig in a l title b y foreclosu re o r con solid a tion , w h ile others h ave been p ra ctica lly m e rg e d b y
lease o r b y purchase o f th eir s tock ; th e o ld nam es o f su ch com p a n ies are g iv e n b elow , tog eth er w ith th e title o f th e p re se n t
o rga n iza tion u n d er w h ic h th eir securities m a y be fou n d .
name .

w il l be found under —

Akron < Chicago Junction.............. Baltimore & Ohio.
fe
Alabama Central............................... East Tenn. Virginia & Georgia.
Albemarle & Raleigh—
.......Wilmington < Weldon.
fe
American Dock < Improvement Co..Central of New Jersey.
&
Androscoggin < Kennebec.............. Maine Central.
fe
Ashtabula < Pittsburg.....................PittsburgYoungstown<& Ashtabula.
fe
Atchison & Nebraska.........................Chicago Burlington < Quincy.
fe
Atchison & Pike’s Peak.....................Central Branch union Pacific.
Atlantic & Great Western................ New York Pennsylvania & Ohio.
Atlantic & Gulf.................................. Savannah Florida < Western.
&
Atlantic Mississippi & Ohio.............. Norfolk & Western.
Atlantic & Northwest........................ Canadian Pacific.
Atlantic & Pacific.............................. See Atchison System.
Augusta & K noxville.......................Port Royal & Western Carolina.
Bachman Valley................... ............Western Maryland.
Baltimore & Cumberland.................Western Maryland.
Baltimore & Hanover.......................Western Maryland.
Baltimore & Harrisburg................. Western Maryland.
Baltimore & Lehigh.............. ............Maryland Central.
fe
Baltimore & New York..................... Baltimore < Ohio. Battle Creek & Sturgis..................... Lake Shore & Michigan Southern.
Bay City & Battle Creek................... Michigan Central.
Bellefontaine & Indiana...................Clev. Cin. Chic. & St. Loms.
Belleville < Carondelet......................St. Louis Alton & Terre Haute.
fc
Belleville & Eldorado......................... St. Louis Alton & Terre Haute.
Belleville & Southern Illinois...........St. Louis Alton & Terre Haute.
Bell’s Gap........................................... Pennsylvania & Northwestern.
Beloit & Madison...............................Chicago & Northwestern.
Black River & Morristown...............Rome Watertown & Ogdensburg.
&
Birmingham Equipment.................. Kansas City Memp. < Birmingham.
Bluff Point Improvement................ Delaware & Hudson Canal.
Booneville Bridge............................. Missouri Kansas & Texas.
Boone ville St. Louis & Southern_ Missouri Pacific.
_
Boston Barre & Gardner..................Fitchburg.
Boston Clin. Fitch. & New Bed.......Old Colony.
Boston Concord & Montreal............. Concord & Montreal.
fe
Boston Hartford & Erie................... New York < New England.
Boston Hoosac Tunnel & Western. .Fitchburg.
Boston Providence & Fishkill.......... New York & New England.
Brooklyn & Montauk........................ Long Island.
Brunswick & Chillioothe..................Wabash.
Brunswick & Western...................... Savannah Florida < Western.
fc
Buffalo & Erie....................................Lake Shore & Michigan Southern.
Buffalo New York & Philadelphia. .Western New York < Pennsylvania.
&
Burlington Cedar Rapids < Minn.. .Burlington Cedar Rapids < Norths
fe
fc
Burlington & Missouri River............Chicago Burlington < Quincy.
&
Burlington & Southwestern.............Chicago Burlington & Quincy.
Busk Tunnel.......................................Colorado Midland.
Cairo Arkansas & T ex as.................Missouri Pacific—St. L. I. M. & So.
Cairo & F u lton ................................. Missouri Pacific—st. L. I. M. < So.
&
Cairo & St. L ou is............................... St. Louis & Cairo.
Cairo Vincennes & Chicago............. Cleveland Cin. Chicago & St. Louis.
California & Oregon..........................Central Pacific.
California Southern........................... Atchison Topeka & Santa Fe.
Camden & A m boy.............................United New Jersey.
Canada « entral..................................Canadian Pacific.
.
Carbondale < Shawueetown............St. Louis Alton & Terre Haute.
fc
Cedar Rapids & Clinton................... Burlington Cedar Rapids &North’n.
Cedar Rapids Iowa Falls & N. W .. .Burlington Cedar Rapids < North’n.
fe
Cedar Rapids & Missouri River.......Chicago & Northwestern.
Central Io w a ..................................... Iowa Central.
Central Washington..........................Northern Pacific.
Charlottesville < Rapidan.............. Virginia Midland.
fc
Cheshire............................................. Fitchburg.
Chicago & Atlantic........................... Chicago & Erie.
Chicago & Calumet Terminal...........Chicago & Northern Pacific.
Chicago Clinton Dubuque & Minn..Chicago Milwaukee & St. Paul.
Chicago & Great Eastern................ Pittsburg Cin. Chicago & St. Louis.
Chicago & Great Western................Chicago < Northern Pacific.
&
Chicago & Indiana Coal.................. Chicago < Eastern Illinois.
&
Chicago Iowa & Nebraska.............. Chicago & Northwestern.
Chicago Kansas & Nebraska...........Chicago Rock Island < Pacific.
fc
fc
Chicago Kansas & W estern............ Atchison Topeka < Santa Fe.
Chicago & Michigan Lake Shore__ Chicago < West Michigan.
fe
Chicago Milwaukee & N. W..............Chicago < Northwestern.
&
Chioago < Milwaukee....................... .Chicago & Northwestern.
fe
Chicago & North Michigan...............Chicago < West Michigan.
fc
Chicago & Ohio River.......................Chicago < Northwestern.
fe
Chicago & Pacific............................... Chicago Milwaukee < St. Paul.
&
Chicago Santa Fe & California....... Atchison Topeka & Santa Fe.
Chioago & St. Louis..........................Atchison Topeka & Santa Fe.
Chioago St. Louis & New Orleans.. .Illinois Central.
Chicago St. Louis & Paducah.......... St. Louis Alton & Terre Haute.
Chioago St. Louis & Pittsburg.........Pittsb’rg Cincinnati Chicago & St. L.
Chicago St. Paul «& Minn................. Chicago'St. Paul Minn. & Omaha.
Chioago < Southwestern................. Chioago Rock Island & Pacific.
&
Chioago < Springfield....................... Illinois Central.
&
Chioago & Tomah..............................Chioago & Northwestern.
Chicago Wisconsin < Minnesota__ Wisconsin Central Co.
&
Chippewa Falls & Western.............. Wisconsin Central.
Cincinnati < Baltimore..................... Baltimore & Ohio Southwestern.
&
Cinoinnati Hamilton < Indianapolis. Cincinnati Hamilton & Dayton.
&
Cincinnati & Indiana........................ Cleveland Cin. Chic. & St. Louis.
Cincinnati Ind. St. Louis < Chicago. Cleveland Cin. Chic. & St. Louis.
fc
Cincinnati Richmond & Chicago___Pittsb’rg Cincinnati Chicago & St. L.
Cinoinnati Southern..........................Cincinnati New Orleans < Tex. Pac.
fc
Cincinnati Van Wert & Michigan.. ..Cincinnati Jackson & Mackinaw.
Cinoinnati Wash. & Baltimore....... Baltimore & Ohio Southwestern.
Clarksville & North Carolina.......... Richmond < Danville.
fc
Clearfield & Jefferson....................... Pennsylvania < Northwestern.
fe
Cleveland ( ’olumbus Cin. < Ind...... Cleveland Cin. Chic. & St. Louis.
fe
Cleveland Mt. Vernon «&Delaware..Cleveland Akron & Columbus.
Cleveland Painesville & Ashtabula..!« ke Shore < Michigan Southern,
&
Clevel. Tuscarawas V. «&Wheeling. .Cleveland Lorain < Wheeling.
&
Coeur d’ Alene..................................... Northern Pacific.
Colorado Central................................Union Pacific Denver < Gulf.
fc
Colorado M idland............................. See Atchison “ System.”
Columbia & Augusta......................... Charlotte Columbia & Augusta.
Colorado Bridge................................ International < Great Northern.
fc
Col, Chicago & Indiana Central.......Pittsburg Cin. Chicago & St. Louis.
Columbus & Eastern......................... Columbus Shawnee & Hocking.
Columbus & Hocking Valley............Columbus Hocking Valley < Toledo.
fe
Columbus & Indianapolis Central... Pittsb. Cincinnati Chic. < St. Louis.
&
Columbus & Rome.......... .................. Savannah & Western.
Columbus Springfield & Cincinnati.Cleveland Cinoinnati Chic. < St. L.
fe
Columbus < Toledo................ ...........Col. Hocking Valley < Toledo.
fe
&
Columbus & Western.......... ....... ......Savannah & Western.
Concord.......... ....................................Concord & Montreal.
ennecticut Western........................ Hartford & Connecticut Western.
•nnotton Valley...............................Cleveland & Canton.

S




NAME.
WILL BE FOUND UNDER—
Consolidated Vermont..................... Central of Vermont.
Covington < Lexington............. . .Kentucky Central.
fc
Cowley Sumner < Fort Smith..........Atchison Topeka & Santa Fe.
&
Current River..................................... Kansas City Fort Scott < Memphis,
&
fe
Dakota Central................................. Chicago < Northwestern.
Dakota & Great Southern................Chicago Milwaukee < t. Paul.
fc
Dallas & Waco....................................Missouri Kansas < Texas.
fe
Danville & Grape Creek...................Chicago & East Illinois.
Danville Olney < Ohio R iv e r .........Chicago & Ohio River.
fc
Dayton Fort Wayne & Chicago.....Cincinnati Dayton < Ironton.
fe
Dayton < Ironton............................. Dayton Fort Wayne & Chicago,
fc
Delano Land..................... .................Lehigh Valley.
Denver Memphis & Atlantic.......... Missouri Pacific.
Denver Pacific.................................. Union Pacific.
Denver & Rio Grande W estern.......Rio Grande Western.
Denver -outh Park & P a cific......... Union Pacific.
Denver Tex s & Fort W orth...........Union Pacific Denver & Gulf,
Denver Texas < Gulf.......................Union Pacific Denver & Gulf.
&
Des Moines & Minneapolis...............Chicago & Northwestern.
Detroit & Bay City___i .................... Michigan Central.
Detroit Mac inac < Marquette.......Duluth South Shore & Atlantic.
fc
Detroit < Milwaukee........ ...............Detroit Grand Haven < Milwaukee-,
fe
fe
Detroit Monroe & Toledo.................. Lake Shore & Michigan Southern.
Duck River........................................ Nashville Chattanooga < St. Louis,
&
Duluth & Manitoba............................Northern Pacific.
Duluth Short Line............................. St. Paul «&Duluth.
East Line & Red River..................... Missouri Kansas & Texas.
Eastern of Massachusetts................ Boston & Maine.
Eastern of Minnesota........................St. Paul Minn. & Man.
Easton & A m boy..............................Lehigh Valley;
Elmira State L in e ............................ Tioga.
Erie ..................................................... New York L*ke Erie < Western,
fc
Eseanaba & Lake Superior...............Chicago & Northwestern.
E s s e x .................................................. Boston < Maine.
fe
European & North American..........Maine Central.
Evansville & Crawfordsville............Evansville & Terre Haute*
Evansville Henderson & Nash ville.. Louisville < Nashville.
&
Evansville & Richmond................... Evansville & Terre Haute.
Evansville Rockford & Eastern.......Louisville Evansville & St. Louis,
Fargo & Southern............................. Chicago Milwaukee < St. Paul.
fe
Flemington......................................... Belvidere Delaware.
Florida Railway & Navigation........ Florida Central & Peninsular.
Florida S ou th ern ............................ J cksonviile Tampa < Key West,
fe
Fort Smith & Van Buren Bridge— St. Louis & San Francisco.
Fremont Elkhorn < Missouri V a l.. .Chicago & Northwestern.
fc
FultonElevated........ .........................Kings County Elevated.
Gardner Coal City & Northern........ Elgin Joliet & Eastern.
Grand Haven................... - ................Chicago & West Michigan.
Grand R pids Lansing & Detroit....DetroitLansing & Northern.
Grand Rapids Newaygo & L. Shore. Chicago & West Michigan.
Grand River Valley........................... Michigan Central.
Green Bay < Minnesota...................Green Bay Winona < St. Paul.
&
fe
Greenville < Columbia.................... Columbia & Greenville.
fc
Hannib 1 < Central Missouri..........Missouri Kansas & Texas.
&
Hanover & Gettysburg...................... Western Maryland.
Harlem & Portchester.......................New York New Haven < Hartford.
fc
Hastings < Dakota..................... ....Chicago Milwaukee & St. Paul.
&
Helena & Red Mountain................... Northern Pacific.
Henderson Bridge Co........................ Louisville & Nashville.
H ereford........................... - ................Maine Central.
Holly Wayne & Monroe....................Flint & Pere Marquette.
Holyoke & Westfield..........................New Haven & Northampton.
Humeston & Shenandoah................ Chic go Burlington < Quincy.
fc
Huntinburg Tell City < Cannellton.Louisv. Evansv. & St. Louis ConsoY
fc
Illinois Midland..................................Terre Haute & Peoria.
Illinois & St. Louis.............................Louisville Evansv. < St. L. Consol
fe
Indiana Bloomington & Western... .Peoria & Eastern.
Indiana < Lake Michigan................. Terre Haute & Indianapolis.
&
Indianapolis Cin & Lafayette...........Cleveland Cin. Chic. & St. Louis.
Indianapolis & Cincinnati................ Cleveland Cin. Chic. & St. Louis.
Indianapolis Decatur & Springfleld..Indianapolis Decatur & Quincy.
Indianapolis Decatur < Western... .Indianapolis Decatur < Quincy.
fe
fe
Indianapolis & St. Louis................... Cleveland Cin. Chic. & St. Louis.
Ionia «fe Lansing..................... ...........Detroit Lansing & Northern.
Iowa Citv & Western........................ Burlington Cedar Rapids < North’n.
&
Iowa < Dakota.................................. Chicago Milwaukee < St, Paul.
fe
fe
Iowa Falls < Sioux City....................Dubuque < Sioux City.
fe
fc
Iowa Midland..................................... Chicago & Northwestern.
Iowa < Minnesota............................. Chicago Milwaukee < St, Paul.
fe
&
Ithaca & Athens.
.......................Lehigh Valley.
Jackson Lansing < Saginaw............Michigan Central.
&
Jacksonville Southeastern...............Chicago Peoria < St. Louis.
fe
Jacksonville Louisville < St. Louis.Chieago Peoria < St. Louis.
fc
fe
J mes River Valley........................... Northern Pacific.
J hmestown < Franklin..................... L ke Shore < Michigan Southern.
fe
fe
Jefferson Madison < Indianapolis..Pittsburg Cincinnati Chic. < St. L.
&
&
Joliet & Chicago............. .................. Chicago <&
Alton.
.
Junction < Breakwater....................Delaware Maryland < Virginia.
&
&
Kalamazoo Allegan < Gr. Rapids..Lake Shore < Michigan Southern.
fe
fe
Kalamazoo < South Haven............. Michigan Central.
&
Kalamazoo < White Pigeon............. Lake Shore < Michigan Southern.
fe
fe
Kanawha < O h io...............................Kanawha & Michigan.
&
Kansas < Arkansas Valley............. Missouri Pacific.
fc
Kansas City & Beatrice... *........ -. .Kansas City Wyandotte N. W.
Kansas City < Cameron...................Hannibal & St. Joseph.
fc
Kansas City Fort Scott < Gulf........Kansas City Fort Scott & Memphis.
&
Kansas City < Memphis Ry. Bridge. Kansas City Fort Scott «fe Memphis.
&
Kansas City < Omaha.......- ............. St. Joseph & Grand Island.
fe
Kansas City St. Louis < Chicago... .Chicago & Alton.
fc
_ _ ___ .
Kansas City Southeastern < Memp.Kansas City Fort Scott < Memphis.
fe
fc
Kansas City < Southwestern............St. Louis < San Francisco.
fe
&
Kansas City Springfield < Memphis.Kansas City Fort Scott & Memphis.
&
KansasCity Topeka < Western.......Atchison Topeka < Santa Fe.
&
fe
Kansas Equipment............................Kansas City Fort Scott < Memphis.
fe
Kansas Midland .............................. St. Louis < San Francisco.
&
Kansas < Missouri.............................Kansas City Fort Scott < Memphis.
fe
&
■Kansas Pacific.......... .........................Union Pacific.
Keithsburg Bridge---- 1..................... Cen^’al,
Kingman Pratt < Western...............Atchison Topeka < Santa Fe.
fe
fe
Knoxville < Ohio.......*
&
............. ......... East Tennessee Virginia < Georgi».
&
Lackawanna < Pittsburg................ Lackawannna «fe Southwestern.
&
Lackawanna < Susquehanna.......... Delaware < Hudson.
fe
fc
Lafayette Bloomington < Muncie...Lake Erie < Western.
&
&
Lancaster < Reading........................Reading «fe Columbia.
&
Lawrence............................................. Pittsburg Y oungstown <s Ashtabula.
Leeds < Farmington......................... Maine Central.
&
Lehigh & Susquehanna........ ........... Lehigh Coal < Navigation.
&

May , 1891.1
name .

IN D E X
w il l be found under —

Uoroy & Caney Valley......................Missouri Pacific.
U n celn & Northwestern....................Chicago Burlington < Quincy.
&
¿Lincoln Park < Charlotte................ Buffalo Rochester & Pittsburg.
&
lit tle Rock Junction........................Missouri Pacific.
lit t le Rock < Port Smith..................Missouri Pacific.
fe
liOng Branch < Sea Shore................ Central New Jersey.
&
Ixmg Dock Company.........................New York Lake Erie & Western.
Long Island City < Flushing............Long Island.
fe
Louisiana & Missouri River............. Chicago & Alton.
Louisville Cincinnati & Lexington..Louisville < Nashville.
fc
Louisville Hardinsburg«feWestern..Louisville St. Louis & Texas.
Louisville & St. Louis.......... ............. Chicago Peoria < St. Louis.
fc
Lowell < Lawrence...........................Boston & Lowell.
fe
M acon < Augusta............................. Georgia RR. & Banking Co.
fc
Mahoning Coal.......... , ....................... Lake Shore < Michigan Southern.
fc
Manitoba Southwest’n Colonization. Canadian Pacific.
fc
Marietta Columbus « sNorthern.......Toledo < Ohio Central Extension.
S
Marietta Mineral............................... Toledo « s Ohio Central Extension.
S
Maple River....................................... Chicago & Northwestern.
Marquette Hougton & Ontonagon.. .Duluth South Shore & Atlantic.
Marquette « sWestern..................... . .Duluth South Shore < Atlantic.
S
fc
Massachusetts Central..... ...............Central Massachusetts.
Massawippi............. ....................... *.Connecticut & Passumpsio.
Maysville < Lexington.................... Kentucky Central.
fe
McKeesport < Bellevernon.............Pittsb.MoKeesport «SsYoughiogheny.
fe
Memphis Clarksville « s Louisville.. .Louisville « sNashville.
S
S
Memphis Kansas < Colorado...........Kansas City Fort Scott < Memphis.
fe
&
Memphis < Ohio................................Louisville < Nashville.
fe
fe
Memphis Paducah < Northern........ Chesapeake Ohio «fe Southwestern.
&
Menominee River..............................Chicago & Northwestern.
Metropolitan Elevated.................... Manhattan Elevated.
Michigan Air Line............................. Michigan Central.
Miohigan < Ohio............................... Cincinnati Jackson & Mackinaw.
fe
Midland o í New Jersey.....................New York Susquehanna «fe Western.
fe
Milwaukee < Madison......................Chicago < Northwestern.
&
Milwaukee «fe Northern.................... Chicago Milwaukee < St. Paul.
&
Milwaukee < Western......................Chicago Milwaukee < St. Paul.
&
fc
Minneapolis < Duluth.......................Minneapolis < St. Louis.
fc
&
Minneapolis «fe Pacific........................Minneap. St. P. < Sault Ste. Marie.
fc
Minneap. Sault Ste. Marie «fe Atl’tic.Minneap. St. P. «fe Sault Ste. Marie.
Minneapolis Union............................. St. Paul Minneapolis < Manitoba.
&
Minnesota Central............... ............. Chicago Milwaukee «fe St. Paul.
Minnesota < Northwestern...............Chicago St. Paul < Kansas City.
fe
fe
Minnesota St. Croix < Wisconsin.. .Wisconsin Central Company.
fe
Minnesota Valley.............................. Chicago < Northwestern.
fc
Missisquoi Valley.............................. Central Vermont.
fe
Mississippi River Bridge..................Chicago < Alton.
Mississippi & Tennessee....................Illinois Central.
Missouri Valley < Blair RR. Bridge. Chicago < Northwestern.
fe
fe
Missouri & Western............................St. Louis < San Francisco.
fc
&
MonongahelaRiver...........................Baltimore < Ohio.
Montana Central............................ ..St. Paul Minneapolis < Manitoba?
fe
Muskegon Grand Rapids < Indiana. Grand Rapids < Indiana.
fc
fc
Nashua < Lowell..............................Boston < Lowell.
&
fe
Nashua «fe Rochester......................... Worcester Nashua < Rochester.
&
Natchez Jackson < Columbus..........Louisville New Orleans < Texas.
fe
fe
fc
Nebraska............................................. Chicago Burlington < Quincy.
Nebraska < Western..................... .. .Pacifio Short Line.
&
New Bedford Railroad......................Old Colony.
fe
Newburg < New Y ork......................New York Lake Erie < Western.
&
New Castle < Shenango Valley........ New York Pennsylvania < Ohio.
fe
&
New England Equipment.................. New York < New England.
fc
New Jersey Midland.......................... New York Susquehanna «fe Western.
New Jersey Southern........................ Central of New Jersey.
New Mexico < Southern Pacific.......Atchison Topeka < Santa Fe.
fe
fc
fc
New Orleans < Mobile... «................Louisville < Nashville.
te
New Orleans Pacifici........................Texas < Pacific.
&
Newport «&Richford......................... Connecticut & Passumpsio.
Newtown < Flushing....................... Long Island.
fc
New York Elevated........................... Manhattan Elevated.
New York < Erie.............................».New York Lake Erie < Western.
fe
&
New York < Long Branch............... Central of New Jersey.
&
New York < Manhattan Beach........ N. Y. Brooklyn < Manhat. Beach.
fc
fc
New York < Oswego Midland..........New York Ontario < Western.
fc
&
New York < Rockaway.......... ...........Long Island.
fc
N. Y. Woodhaven<fc Rockaway....New York < Rockaway Beach.
&
Niles < New Lisbon............. ............. Cleveland < Mahoning Valley.
fe
fe
Nodaway Valley........ :.......................Kan. City St. Jos. «fe Council Bluffs.
Norfolk < Petersburg........................Norfolk < Western.
&
fc
Northern Illinois............................... Chicago < Northwestern.
&
North Missouri................................... Wabash.
North Shore........................................ Canadian Pacific.
North Wisconsin................................Chic. St. Paul Minn, «fe Omaha.
Northern Pacific < Montana............Northern Pacific.
fe
Northwest < Florida......................... Alabama Midland.
fe
Northwestern Grand Trunk.............Chicago < Grand Trunk.
fe
Northwestern North Carolina..........Richmond < Danville.
fc
Northwestern Union..........................Chicago < Northwestern.
fe
Northwest Virginia.......................... Baltimore < Ohio.
fe
■Ocean Steamship................................Cent. RR. < Banking Co. of Georgia.
fe
fe
Ohio Central....................................... Toledo < Ohio Central.
Ohio Indiana < Western................... Peoria < Eastern.
fe
fe
Ohio «fe West Virginia........................ Col. Hooking Valley < Toledo.
&
Omaha < Southwestern......... .......... Chicago Burlington < Quincy.
&
&
Ontario < Quebec...............................Canadian Pacific.
fe
Orange < Alexandria........................ Virginia Midland.
fc
Oregon Short Line..............................Oregon Short Line < Utah Northern.
fe
Ottawa Oswego < Fox River........... Chicago Burlington < Quincy.
&
&
Ottumwa Cedar Falls < St. Paul___Chicago < Northwestern.
fc
fc
O xford < Clarksville................... ......Richmond < Danville.
&
fc
Pacifio Coast...................................... Oregon Improvement Co.
Pacifio of Missouri............................ Missouri Pacific.
Paducah < Elizabethtown................Chesapeake Ohio < Southwestern.
fc
fc
Paris < Decatur...................... ..Terre Haute < Peoria.
&
fe
Pekin Lincoln < Decatur.................. Peoria Decatur < Evansville.
fc
&
Peninsular (Mich).............................. Chicago < Northwestern.
&
Pennsylvania «fe N. Y. Canal............ Lehigh Valley.
Penokee...............................................Wisconsin Central.
Peoria Pekin < Jacksonville........... Wabash.
fe
Pittsburg Cincinnati < St. Louis___Pitts. Cinn. Chic, «fe St. Louis.
&
Pittsburg < State Line...................... Buffalo Rochester < Pittsburg.
fe
&
Pleasant Hill «fe De Soto.................... Kansas City Clinton «fe Springfield.
Port Huron < Northwestern........... Flint < Pere Marquette.
&
fc
Portland < Kennebec........................Maine Central.
fe
Portsmouth Great Falls < Conway.Boston < Maine.
fe
fe
Potomac V alley................................. Western Maryland.
Poughkeepsie < Connecticut............Central New England < Western.
fe
fe
Prairie du Chien................................ Chicago Milwaukee < St. Paul.
&
Pueblo < Arkansas Valley...............Atchison Topeka < Santa Fe.
fc
fe
Quincy Alton < St. Louis................ Chicago Burlington < Quincy.
fe
&
Quincy «fe Palmyra— .......................Hannibal < St. Joseph.
&
Quincy < Toledo................................ Wabash.
fe
Ravensw ood Spencer & Glenville..Ohio River.
Republican Valley....................... .¿..Chicago Burlington < Quincy.
fe




5
NAME.

W ILL BE FOUND UNDER—

fc
Rhode Island < Massachusetts........ New York < New England,
&
fc
Rich Hill............................................. Kansas City Fort Scott < Memphis.
Richmond < A lleghany....'............. Chesapeake < Ohio.
fc
fc
Richmond YorkRiver«feChesapeake.Richmond < Danville.
fc
Rochester Hornellsville «feLacka— Lackawanna < Southwestern.
&
Rochester < Pittsburg.......................Buffalo Rochester < Pittsburg.
&
fe
Rome < Carrollton.......... .................. Chattanooga Rome < Columbus.
fc
fe
Sacramento < Placerville................Northern California.
fe
Saginaw < Western........................... Detroit Lansing < Northern.
fc
&
St. Joseph < Iowa........................... ..Chicago Rock Island < Pacifio.
fc
&
St. Joseph < P acific.......... ................St. Joseph < Grand Island.
fc
fc
St. Joseph < Western........................ St. Joseph < Grand Taiand
&
fe
St. Lawrence < Ottawa.................... Canadian Pacific.
fc
St. Louis Arkansas < Texas............. St. Louis Southwestern.
fe
St. Louis Bridge < Tunnel................ Terminal Association of St. Louis.
fe
St. Louis < Chicago............................North < South RR. of Illinois.
&
fc
St. Louis Council Bluffs < Omaha...Wabash.
fe
St. Louis Iron Mount’n < Southern..Missouri Pacific System.
fe
St. Louis Jacksonville < Chicago___Chicago < Alton.
fe
&
St. Louis Kansas City < Northern...Wabash.
&
8t. Louis Kansas < Southwestern.. .8t. Louis < San Franoisoo.
fe
&
St. Louis «ft Lexington........................ Missouri Pacific.
St‘ Louis Salem < Arkansas.......... ..St. Louis & San Franoisoo.
fe
St. Louis Salem < Little Rook.......... (St. L. Salem < Ark.) St. L. < S. Fran.
fc
fe
fe
St. Louis < San Francisco.................See Atchison * System.”
&
*
St. Louis < Southeastern................... Louisville «fe Nashville.
&
St. Louis Southern.............................. St. Louis Alton < Terre Haute.
&
St* Louis Wichita < Western.............St. Louis < San Franoisoo.
fc
&
St. Paul < Chicago..................... ........Chicago Milwaukee < St. PauL
&
fc
St. Paul Eastern Grand Trunk.........Milwaukee Lake Shore & Western.
St. Paul < P a cific.............................St. Paul Minneapolis < Manitoba.
fc
&
St. Paul < Sioux City.........................Chic. St. Paul Minn. & Omaha.
&
St. Paul Stillwater < T. F.................Chic. St. Paul Minn. < Omaha.
fe
fc
Sandusky Dayton < Cincinnati.......Cincinnati Sandusky < Cleveland
fe
fe
San Joaquin Valley.......................... Central Pacific.
San Pablo < Tulare................ .......... Northern (California).
fc
Sault St. Marie < Southwestern.......Chic. St. P. Minneapolis < Omaha.
fc
fe
fe
Savannah Albany < Gulf.................. Savannah Florida < Western?
fe
fe
Savannah < Charleston..................... Charleston < Savannah.
fc
Schenectady < Duanesburg............. Delaware «fe Hudson.
fe
Schuylkill River East Side................ Baltimore < Ohio.
&
Scioto Valley...................................... Norfolk < Western.
fc
fe
Scioto Valley & New England..........Norfolk < Western.
Seattle < Northern.. . . . . . . . . . . . . . . . . .Oregon Improvement.
fe
Seattle Valley < Southern............... Missouri Pacific.
fe
Sharon.................................................. New York Pennsylvania < Ohio.
fe
Shawnee < Muskingum R R _______ Columbus Shawnee < Hooking.
fc
fe
Sheffield < Birmingham....................Birmingham Sheffield «feTenn.River.
fe
Shenandoah Valley........................... Norfolk < Western.
&
Short Creek < Joplin.........................Kansas City Fort Scott < Memphis.
fc
fe
Sioux City < Pacific.......... i ............ Chicago < Northwestern.
fc
fe
Slatington<& New England............ Pennsyl’a Poughkeepsie «fe Boston.
Smithtown < Port Jefferson............. Long Island.
fe
Sodus Bay < Southern..................... .Elmira < Lake Ontario.
fe
fe
Sonora........ . .......................................Atchison Topeka < Santa Fe.
&
South Georgia < Florida...................Savannah Florida < Western.
fc
&
South Pacific (Mo.)................... ........ St. Louis < San Francisoo.
&
fe
South Side (Va.)................................. Norfolk < Western.
Southeastern < St. Louis.................. Louisville < Nashville.
&
&
Southern Georgia < Florida........ .Savannah Florida < Western.
fe
fc
Southern Kansas.............................. Atchison Topeka < Santa Fe.
fe
Southern Kansas in Texas............... Atchison Topeka < Santa Fe.
fe
fe
Southern Kansas < Western............Atchison Topeka < Santa Fe.
fe
Southern Minnesota..........................Chicago Milwaukee < St. PauL
fc
Southern Pacific Branch.................. Southern Pacific o f California.
Southern Pennsylvania.................... Cumberland Valley.
Sturgis Goshen < St. Louis.............. Lake Shore < Michigan Southern.
fe
fe
Sugar Refineries.......................... ...... American Sugar Refinery.
fe
Spartanburg < Asheville................. Asheville < Spartansburg.
fe
Spokane < Palouse............... ............Northern Pacific.
fc
Sterling Mountain RR...................... Sterling Iron < R’y Co. (see Miscel’s)
fc
Steubenville < Indiana.....................Pittsburg Cinn. Chic. < St. Louis.
fe
fe
Stockton < Copperopolis..................Southern Pacific of California.
fe
Sugar Trust........................................ American Sugar Refining.
Sunbury < Erie.................................. Philadelphia < Erie.
fe
&
Syracuse Northern............................ Rome Watertown < Ogdensburg.
fc
fe
Taylor’ s Falls < Lake Superior.......St. Paul < Duluth.
fc
Tarkio Valley..................................... Kan. City St. Jos. < Council Bluffs.
fe
Tebo < Neosho...................................Missouri Kansas < Texas.
fe
fc
Terre Haute < Southeastern...........Evansville < Indianapolis.
fe
fe
Texas Mexican.................................. Mexican National.
Toledo Ann Arbor < Cadillac.. . _ Toledo Ann Arbor < North Mich.
fe
_
fe
Toledo Ann Arbor < Grand Trunk. .Toledo Ann Arbor < North Mich.
fc
fe
Toledo Ann Arbor < Mt. Pleasant. .Toledo Ann Arbor < North Mioh.
fe
fe
Toledo Belt................................ .........Wheeling «fe Lake Erie.
Toledo Cincinnati «&St. Louis..........Toledo St. Louis < Kansas City.
fc
Toronto Grey < Bruce...................... Canadian Pacific.
fe
Troy < Boston........... ........................Fitchburg.
fe
Tunnel RR. of St. Louis....................Terminal Ass’n of St. Louis (Miscel*
U nion...................................................Northern Central.
Union Railway of Chattanooga.......Chattanooga Union.
Union Elevated..................................Brooklyn Elevated.
Union < Logansport........................ Pittsburg Cincin. Chicago & St» L.
&
Upper Coos.........................................Maine Central.
Utah Northern................................... Oregon Short Line < Utah North’n.
&
Utah Southern....................................Oregon Short Line < Utah North’n.
fc
Utica < Black River.......................... Rome Watertown < Ogdensburg.
fc
&
Venice < Carondelet........................ Louisville Evansville & St. Louis.
fe
Verdigris Val. Independ’oe < West..Missouri Pacific.
&
Vernon Greensburg < Rushville___Cincin. Indianap. St. L. < Chicago.
fe
fc
Vicksburg < Meridian...................... Alabama < Vicksburg.
fc
fe
Virginia & Tennessee........................ Norfolk < Western.
&
W a co < North western...................... Houston < Texas CentraL
fe
&
Wabash Western..................... .......... Wabash.
Warren < Franklin............................Western New York < Pennsylvania
&
&
Warwick Valley................................. Lehigh < Hudson River.
fe
Washjngton City Va. Mid. < Gt. So. Virginia Midland.
fe
Washington Ohio & Western............Richmond < Danville.
fc
Watertown < Rome................ ...........Rome Watertown < Ogdensburg.
&
fe
Waukegan < Southwestern..............Elgin Joliet & Eastern.
&
Waynesburg < Canton...................... Cleveland < Canton.
&
&
Western Maryland Tidewater..........Western Maryland.
Western Minnesota............. ............. St. Paul < Northern Pacifio.
&
Western Pacific..................................Central Pacific.
Western Union RR .............................Chicago Milwaukee < St. PauL
fe
West Wisconsin.................................. Chic. St. Paul Minneap. < Omaha
fc
Whiskey Trust....................................Distilling < Cattle Feeding.
fe
Wichita < Southwestern................... Atchison Topeka < Santa Fe.
fc
fe
Wichita < Western.. *........................Atchison Topeka < Santa Fe.
fe
fc
Winona < St. Peter..... ...................... Chicago «fe Northwestern.
fc
Wisconsin «&Minnesota.................... Wisconsin Central Company.
Wisconsin Minnesota < Paoiflc. ..'...Minneapolis < St. Louis.
fe
fe
Wisconsin Valley................................ Chicago Milwaukee < St. Paid.
fe
Wyandotte County Bridge < Term..Kansas City Bridge < Terminal.
fe
&
Zanesville Terminal.
„ „ „ ...C o lu m b u s Shawnee<feHocking.
-

STOCK AND BOND TABLES.
K O TES.
These tables are expressly intended to be used in connection with the information concerning investment matters published from week
to week in the Chronicle. At the conclusion of the statement for each company, therefore, is furnished a complete index of all items per­
taining to that company published in the Chronicle within the last eighteen months. Annual reports are in black-faced figures.
In case any company eannot be. found in its regular alphabetical order (the railroads being arranged together first, and miscellaneous
companies following), reference should be made to the index on a preceding page, as many roads having been leased or consolidated, their
securities are placed under the name o f the controlling company.
The dividends appearing in the remarks are those paid in the year named, or such as have been declared and will be paid in it. In many
instances these dividends are paid in part out of the earnings of the preceding year, and hence it is that they often differ from the dividends
given in connection with the earnings.
The following will give explanations of each of the columns o f the tables below :
Description.—Abbreviations used are : M. for “ mortgage ; ” gen. M. for “ general mortgage ; ” con. M. or consol. M. for “ consolidated mort­
gage ; ” inc. M. for “ income mortgage ; ” g. for “ gold ; ” guar, for “ guaranteed ; ” cum. for “ cumulative ; ” non-cum. for “ non-oumulative ; ” conv. for “ convertible ; * pref. for “ preferred;” s. f. for “ sinking fu n d ;” 1. gr. for “ land gra n t;” r. for “ registered ; ” c. fo r
’
coupon ; ” c.* for “ coupon but may be registered as to principal ; ” c. & r. for “ coupon and registered ; ” br; for “ branch ; ” end. for
“ endorsed^,” “ red.” for redeemable, meaning subject to call before maturity (so “ red. at 100 ” means subject to call at par); “ d’m *
or “ drawn ” for drawn by lot from time to time and paid from the sinking fund.
..........
Date o f Bonds.—The date of issue on the face of the bonds is referred to in this column.
Mile# o f Road.—Opposite stocks, this means the miles of road owned ; opposite bonds, the miles covered by the mortgage.
Bise or Par Value.—These figures, unless otherwise marked, are dollars, showing the denominations or par value. The figures “ 100, &c.,” signif y
$100 and larger.
Bate Per Cent.—The interest per annum is given for bonds, but the per cent of last dividend for stocks ; g. means gold ; x, extra ; s. stock or scrip.
When Payable—J. & J. stands for January and July ; F. & A., February and August; M. & S., March and September; A. & O., April and October ;
M. &N., May and November; J. < D., June and December; Q.—J., quarterly from January; Q.—F., quarterly from February ; Q.—M.,
&
• quarterly from March.
Bonds, principal when due ; Stocks, last dividend,—The date in this column shows the period when the principal falls due of bonds, but the tim e
when the last dividend was paid on stocks.
Subscribers w i l l con fer a great favor by giv in g im m ediate notice o f any error discovered in these T a bles.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
above.
...........
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Alabama Great Southern—1st mortgage, g o ld .....c
Gen. M. sterl. £1,160,000, red. at 110 June 1, ’98 .c
Debentures, gold............. ........................................
Certificates (issued by English Co.) sinking fund..
Alabama Midland—IstM. ($16,000p. m.);gold....... c
1st M., gold, Sprague to Luveme, $15,000 p. m .. c*
Ala. N. 0. Tex. &Pac. June.—“ A” deb., see rem’ks.c*
“ B” deben., inc.,redeemable after 1910 at 115.c*
“ C” debentures, income, subject to call at 100___
Alabama & Vicksburg—Stock...................................
Vicksburg & Mer. 1st mort., stamped. See rem...
Consolidated 1st mortgage, gold ($1,800,000)....
2d mort., inc. for 5 years, non-cum., g. ($700,000)
A lb.Fla.d N.—1st M .,lst seo.N.Div,g,$12,000 p.m.c*
Albany < Susq.—Stock, 7 p. c. rental D. & H. Canal..
6
Albany City loan (sinking fund, 1 per ct. yearly).c
Consol. M. (guar. D. & H. endorsed on bonds)..c*&r
Allegheny Valley—General mortgage (Riv.Div.)-.c*
1st mort., Eastern Exten., guar, by Penn. RR. .c
2d mort., Eastern ext., to State Pa.. . ................. .r
Funding income bonds, with traffic guarantee... c

290
290
Ï75
34

Ï43
143
143
143
Ï42
142
132
110
110
259

1878 $1,000 $1,750,000
£100
1888
•1,584,360
1886
£100
670.000
1888 Various.
£81,935
1888 $1,000 $2,800,000
1,000
500.000
1890
£100
£750,000
1890
1890
£100
1.050.000
£100
840.000
1890
700.000
100
1,000
1,000,000
1881
359,700
1889 100 &C.
1889 100 &C.
700.000
1,000
1890
(?)
3.500.000
100
1,000,000
1,000
1865
1,000 10,000,000
1876
4,000,000
1866
1,000
1870
1,000 10,000,000
2.200.000
1870 100,000
1874 100 & c.
9,728,500

A la b a m a Great Sou th ern .—(See Map East Tennessee Virginia <
&
Georgia).—Owns Wauhatchie, Tenn., to Meridian, Miss., 290 miles ; leases
Wauhatchie to Chattanooga, 5 miles ; total operated, 295 miles. The
Alabama & Chattanooga Railroad made default January 1,1871, and
road was sold under foreclosure January 22,1877. Present company,
organized November 30,1877, is controlled by an English company of
the same title, which owns all the stock of the American company, and
is itself controlled by the East Tennessee Virginia & Georgia Rail­
road Company. The English company has £134,000 debentures ex­
changeable for general mortgage bonds and capital stock—common
(“ B ’ »shares), £1,566,000, and preferred 6 per cent cumulative for six
years (“ A ” shares), £676,070—par £10, of which in April, 1890, the
East Tennessee Virginia & Georgia purchased £340,000 “ A” shares and
£783,010 “ B ” shares (pledged to secure its Cincinnati Extension bonds).
See V. 5 0 ,» . 560. Dividends on “ A” shares in 1889,6 per cent; in 1890,
May, 6. Enough of the general mortgage bonds are reserved to retire
thè 1st 6s of 1908. The English and American companies own jointly
$1,000,000 Cincinnati New Orleans & Texas Pacific Junction stock. Car
trust notes outstanding June 30,1890, $168,549 ; certificates for fund­
ed arrears of dividend, $398,204. Fiscal year ends June 30. From
July 1,1890, to Mar. 31,1891 (9 months), gross earnings were $1,493,126, against $1,502,478 in 1889-90 ; net, $488,077, against $535,257.
In 1889-90 gross earnings were $1,957,365; net over expenses and taxes,
$628,988; dividends received, $40,000additional; gross in 1888-89,
$1„688,577; net, $385,462; dividends received, $30,000.—(V. 48, p.
637; V. 50, p. 560; V. 51, p. 612.)
,v
A la b a m a M id la n d .—Completed in February, 1890, from Bainbridge, Ga., on the Savannah Florida < Western, northwesterlv
fc
to a connection with the Louisville & Nashville at Montgomery,
Ala., about 175 miles ; branch, Sprague Junction to Luveme, 34 miles ;
total owned, 209 miles. In July, 1890, the Plant Investment Company,
owners of the Savannah Florida & Western, purchased control, ana road
became part of the Savannah Florida & Western system. See V. 51, p.
50. Interest on the 1st mortgage of 1888 was guaranteed till Novem­
ber 1,1892, by the Construction Company (the Alabama Terminal &
Improvement Company), and $600,000 in county and town notes to
secure the same was deposited with the Metropolitan Trust Company,
trustee of the mortgage. Interest due on this mortgage May 1,1891,
was not paid, the Plant Investment Co: merely offering to purchase the
coupons at par. The notes above mentioned are still on deposit as
security for interest as aforesaid, but no cash was on hand for pay­
ment of coupons. The Terminal Company claim the agreement of sale
provided that their guarantee of interest until November, 1892, should
be assumed by the purchasers, and that it was also provided that 30 per
cent of the gross earnings should go to the Trust Company for payment
o f interest. The new administration began operations on August 1,
S™.88 earnings from August I to March 31,1891, were
¿365,759. On this basis gross earnings should be $548,638 for the
first year, 30 per cent of which would represent $164,591. The
total fixed charges amount to $198,000 per annum. See V. 52, p. 717.
Stock—Common, $2,625,000, and preferred, 6 per cent non-cumiflative,
$1,600,000; (pair $100); of which the Plant Investment Company owns
$2,425,000 common and $1,200,000 preferred. New York office, 45
Wall Street.—(V. 49, p. 116, 268, 470; V. 50, p. 312, 422, 735, 770 ; V.
4.1, p. 50; V. 52, p. 680.)
*
*
’




J. & J.
I I : J. & D.
F. & A.
I e6 g- M .& N .
J. & D.
£ g- M. & N.
M. & N.
i g- A. & 0.
3
6
A .& O .
A. & O.
t g> A. & O.
5 g6 g. J. & J.
3ifi J. & J.
M. & N.
6
6 g . & 7 A. & O.
7-30 J. & J.
A. & O.
7
5
J. & J.
A. & O.
7

N.Y.,Farm.L.&Tr.&Bos
London, Comp’y’s office,
do
do
do
do
May,’91 cp. “ purchas’d”
N. Y., Metropol. Tr. Co.
See remarks.
. See remarks.
See remarks.
Cincinnati, Office.
N. Y., Central Trust Co.
do
do
do
do
Baltimore.
N.Y.,Del.&Hud.Can.Co.
do
do
do
do
N.Y.,Phila. & Pittsburg.
Phil., Pa. RR. Co. & Lon.
July 18,1887, last paid.
April, 1884, last paid.

Jan. 1, 1908
Déc. 1. 1927
Aug. 15,1903
By sink’g fund
Nov. 1, 1928
Deo. 1, 1929
N ov.l,1910-40
N ov.l,1910-40
Nov. 1, 1940
Nov. 1, 1890
Apr. 1, 1921
Apr. 1, 1921
Apr. 1, 1921
July 1, 1920
Jan. 2, 1891
1895-1897
April 1, 1900
Mch. 1, 1890
April 1, 1910
100,000 y’rly.
Oot. 1, 1894

A la b a m a N ew O rleans T ex a s & Pacific J u n c tio n (L im ­
ited .)—(See Map Cincinnati New Orleans Texas Pacific.)—This is an
English company controlling the Alabama & Vicksburg, 142 miles;:
Vicksburg Shreveport & Pacific, 189 m iles; New Orleans & North East­
ern, 195 miles; and Spanish Fort Railway, near New Orleans, 13 miles.
In November, 1887, Captain Francis Pavy, in London, was appointed
receiver of the English company in liquidation, and on June 30,1890,
he had about $200,000 cash on hand. In October, 1890, a plan of re­
organization was brought out, under-which the new debentures were
issued in April, 1891. See details V. 51, p. 537.
The preferred or “ A” shares are £1,500,000, having a preference fo r
6 per cent, cumulative, and the deferred or “ B” shares £2,500,000; par
value of all shares £10 each. Until Nov. 1,1895, the “ A ” debentures
are entitled to receive interest only if earned, but unpaid interest is
cumulative. They, as also the “ B ” debentures, are redeemable at the
option of the company after Nov. 1,1910, at 115. The “ B ” and “ C ” ’
debentures are both incomes for their full term, receiving interest only
if earned, and are a second and third charge on earnings respectively.
The “ C ” debentures are subject to call at any time at par, on six
months’ notice. The company holds the following securities, viz.: Of
Alabama & Vicksburg $30,000 1st mortgage, $144,000 consols, $388,000 2d mortgage incomes and $388,000 stock; of Vicksburg Shreve­
port & Pacific, $3,692,000 1st mortgage, $1,931,000 incomes and $1,594,000 stock; of New Orleans & North Eastern, $4,900,000 1st mortage and $4,320,000 stock; of New Orleans Spanish Fort & Lake RR.,
300,000 first mortgage and $200,000 common stock ; of Cincinnati
Southern, $532,000 stock. (V. 45, p. 52, 436; V. 47, p.256; V. 50, p .
560; V. 51, p. 537.)
A la b a m a & V ic k sb u rg .—Owns Vicksburg to Meridian, Miss., and
branch, 143 miles. It is mainly owned and controlled by the Alabama
New Orleans Texas & Pacific Junction Co. The Vicksburg & Meridian
road was sold February 4,1889 (see V. 48, p. 190), and reorganized as
Alabama & Vicksburg. Of the new consolidated bonds, $1,(K>0,000 are
reserved for the Vicksburg & Meridian ls ts ; interest is paid only on
such of the V. & M. bonds as were stamped, under the reorganization
plan.
The new seconds are income (noh-cumulative as to earnings)
for five years, and are a first lien on the Vicksburg & Meridian lands
(124,869 acres), interest being payable from the sales of such lands;
when interest is paid from earnings these land sales will constitute a
sinking fund for the second mortgage bonds. Trustees o f mortgage,
Central Trust Co. of N. Y. Coupons of October, 1889, and April, 1890,
on the neomes were paid April 1,1890. Stock, $700,000; par $100. Car
trusts, $35,925. First dividend (3 per cent) was paid Nov. 1,1890.
From July 1, 1890, to Mar. 31, 1891 (9 months), gross earnings were$517,852, against $517,300 in 1889-90; net, $145,000, against $157,000. In year ending June 30,1890, gross earnings were $676,662; net$178,714; surplus over charges, $63,368. (V. 48, p. 209; V. 51, p. 3 0 3 .),
A lb a n y F lo rid a Sc N orth ern .—Owns road under construction
(to be completed early in 1891) from Albany, Ga., to Cordele, 35 miles,
and projected from Cordele to the South Carolina line at Augusta, from«
Albany to the Florida State line in the direction of Bainbridge, and
from Albany to the Florida line in the direction of Quitman, Ga. Presi|
dent, Nelson Tift, of Albany; Vice-President, S. H. Hawkins, of Savan­
nah Americus & Montgomery Railroad. See V. 51, p. 608.

f

Ma y ,

1891.]

RAILROAD

STOCKS

AN D

7

BONDS.

Subscribers w i l l con fer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In tbese T a b les.
Bond«—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal, When Due.
Miles Date Size, or
Amount Rate per When Where Payable and by Slocks—Last
Par
of
For explanation o f column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.

Allentown Terminal MR.—1st mortgage, guar----c*
Asheville & Spartanburg—1st mortgage, gold........ c
2d mortgage, gold....................................................«
Atchison Col. & Pacific—1st M.($1.6,000p.m.) gu..c*
Atchison Jewell Co. < West.—1st M., guar. C. B.U. P.c
&
A tchison Topeka & Santa Fe—Stock.................. - — Guarantee fund notes secured by mort. red. at 100
Chicago & St. Louis 1st mort. ($10,000 per mile)
Other prior mortgages (See remarks)..................
New general mortgage, gold............................ c*«fcr
N ew inc. M. $80,000,000,non-cu. ,g. ,red. at par.c*&r
Atchison System.—Atlantic < Pacific.—
6
•Central Div. 1st RR. & land. gr. M .......................
•Guar, trust mortgage gold, (redeemable at 105). c
"West. Division 2d M. guar.,g. (s. f . drawn at 105) .c'
Inc. bonds, non-cum., W.D. ($18,750p.m.)..c*«fcr
Central Div., 1st land grant mort., cumulat— c
Income bonds, non-cum. ($18,750 per mile). .c
Atchison System—Colorado Midland—
1st mortgage, gold ($25,000 per mile)................ ®
Consol, mortgage for $6,000,000, gold, guar... .c^
Equip, bonds, s. f., drawn at 105 .- - - - - - - - - - -■•-c
Equip, bonds,Ser. B., s. f.,d r’n atl0 5 a fterl8 9 4.c.
Collateral trust notes.......................- - ~ - v,-.........
Busk Tunnel R’y 1st M. for $1,500,000 gold, guar
Atchison System—St. Louis < San Francisco—
£
1st preferred, 7 per cent, not cumulative.......

66
66

254
34

1889
1885
1887
1879
1879

47Ï
143

1888
1885

3

>,619
(,619
112

672
560

252
267

$450,000
$ 1,000
500.000
1,000
500.000
1,000
4.070.000
1,000
542.000
1,000
100 101,492,747
5.000
1.000

7,000,000
1.500.000

4 g. J. & J.
6 g- A. & O.
6 g. J. & J
Q .-F .
6
Q .-F .
6
Q.—F.
M. & N.
6
M. & 8
6

(1 )

4 g- J. & J.
5 g- Sept. 1.
M. & N.
6
1,189,905
1871 500 &c.
4 g. J. & J.
1,000 17,604,000
1887
5.500.000
6 g. M. & S.
1,000
1887
A. & O.
000 6
50 &C. 12.000.
1880
At Mat
6
796,629
1871 500 &c.
J. & D
6
1.823.000
1,000
1882

1889 500 &c. 128,730,000
000
1889 500 &c. 79.000.

1886
1890
1888
1890
1889
1890

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

6.250.000
3,889,866
450.000
185.000
300.000
0)

100

4.500.000

6
4
7
6
7
7

g.
g.
g.
g.
g.
g.

J.
F.
M.
J.
M.

New York.
N. Y., 80 Broadway,
do
do
N.Y.U.P.Of.& Un.Tr.Co.
N.Y.U.P.Of.& Un.Tr.Co.
N.Y., Boston < Chicago,
fc
Bostn, Kidder, Peabody,
N.Y., Farm’ s L. & Tr. Co,

July 1, 1919
April 1, 1925
July 1, 1937
May 1, 1905
May 1, 1905
Nov. 15, 1888
Nov. 1, 1891
Mch. 1, 1915

) N. Y. Union Trust, > July 1, 1989
j Boston and London. 5 July 1, 1989
N. Y., Baring, Magoun. Nov. 1, 1891
N. Y., Mercantile Tr. Co, Jan. 1, 1937
Sept. 1, 1907.
do
do
Oct. 1, 1910
Nov., 1901
June 1, 1922

& D. N. Y., Central Trust Co.
do
do
< A.
fc
& S. N. Y., S. S. Sands & Co,
do
do
& J.
do
do
< N.
fe

June
Feb.
Mch.
Jan.
May
July

1,
1,
1,
1,
1,
1,

1936
1940
1898
1900
1892
1935

F. & A. N.Y.,Kidder,PeabodyCo Feb. 10,1890

Peoria < St. Louis, a through line between Chicago and St. Louis was
fc
A lb a n y S , S u sq u eh an n a.—f See Map Delaware < Hudson Canal.)
c
6
Owns Albany, N. Y., to Binghamton, N. ^ ,1 4 2 miles; branches, Duanes- opened. See V. 51, p. 608.
Organization , L eases, «fee—The Atchison Topeka & Santa Fe Com­
burg Junction, N. Y .,to Schenectady, 14 miles; Cobleskill, N Y., to
pany was incorporated March 3,1863. The main line of 471 miles was
Cherrv Valley, 21 miles; operates Lackawanna < Susquehanna RR.,
&
miles; East Glenville to Coons, 10 miles; total operated, 209 miles. opened December 23,1872. The whole system outside of this main line
Leased for 150 years from February, 1870, to Delaware & Hudson is nominally under different corporations, of which the ownership is
Canal Co., which owns $450,000 stock; rental, 7 p e r c e n t on stock. vested in the Atchison Topeka & Santa Fe, and the roads usually leased
Additions and betterments charged to lessors, an^ oort m ^ e part of to that company. The stocks and bonds of the auxiliary and collateral
fc
investment. The consolidated mortgage is for $10,000,000, of which companies (except the St. Louis < San Francisco and the Colorado
$3,000,000 are 7 per cents, currency; the principal of the 6s is also pay­ Midland) were deposited in trust under the general mortgage of 1889,
so that the system has become in effect one line, and it is accordingly
able in “ lawful money,” but the interest in gold.
3
From July 1,1890, to Mch. 31,1891 (9 months) g ^ ss earnings were so treated, as far as practicable, in the accounts.
In August, 1884, an agreement was made through the Atlantic & Pa­
$2,863,102, against $2,887,603 in 1889 ; net, $1,21(^923, against
$1,361,946; surplus over c h a r g e s , $357,801, against $516,993. In cific for the control of the Mojave Division of the Southern Pacific and
a right for traffic over the Southern Pacific to San Francisco. The At­
1889-90, gross, $3,385,195; net, $1,331,095.—(V. 49 p. 174, 617, 826,
lantic & Pacific first and second mortgage bonds are guaranteed one-half
V. 50, p. 245, 7 0 7 ; V. 51, p. 207, 681; V. 52, 280. 762.)
each, severally but not jointly, by the Atchison and San Francisco com­
Alleffhenv V a lie v .—Owns from Pittsburg to Oil City, Pa., 132 panies. See Atlantic & Pacific and St. Louis & San Francisco in this
m U esf^ranc^es—Red7 Bank. Pa., to Driftwood, 110 m iles; others, 17
miles; total operated, 259 miles. Stock, $2^166,500; par, foO. Of the
On October 15,1889, the company issued its plan of reorganization,
income bonds the Pennsylvania RR., the Northern Central and the Phil­ which was simple but comprehensive. No assessment was made on the
adelphia & Erie hold $6,087,000. No interest has been paid on the stock, and new bonds were authorized to retire the existing indebted­
Incomes since April, 1884. Thecouponsof guaranteed bonds held bytne ness. The plan was successfully carried out, and of the $148,446,Pennsylvania RR. for advances amount to $6,457,780. The Pennsyl­ 000 prior bonds immediately treated, less than
per cent (or about
vania RR. owns also $1,251,050 stock and $5,510,000 income bonds. In $1 900,000) remained unassented in December, 1890. See the plan at
Mav, 1884, receivers were appointed, Pennsylvania and other railroads length in Y. 49, p. 504, and article on pp. 483, 597; also particulars
being plaintiffs. Suits are pending. See references to Chronicle below
below. Interest due and unpaid on second mortgage December 31,
In May, 1890, control of the St. Louis & San Francisco Railway Com­
pany was acquired, $22,000,000 of Atchison stock being issued to pur­
1890 S330 000
From January 1 to March 31 in 1891 (3 months) gross warnings were chase the San Francisco Company’s $25,500,000 common and preferred
$571,482, against $545,532 in 1890; net, $208,823, against stock. See V. 50, p. 734. Through the St. Louis & San Francisco full
$193,280, In 1890 gross, $2,592,101; net, $1,127,0 7 6 ; interest, control of the Atlantic & Pacific is secured.
.
$1,102,000; real estate and new equipment, $114,287; rentals, etc.,
The Chicago Elevated Terminal R a i l w a y Company was organized in
$6,469; deficit, $95,679. In 1889 gross, $2,369,9 8 6 ; net, $997,397, August, 1890, to secure to this company a better means of entering Chideficit under charges, $289,758.—(V. 50, p. 204,482, 559, 621, 8 0 0 , V.
° a October, 1890, the entire capital stock of the Colorado Midland
^
52, p, 795.)
($8,000,000) was
on terms
A lle n to w n T e r m in a l.—Owns 3 miles of railroad in Allentown, and $5,333,400 of purchasedstock. Seeequivalent to $1,600,000 in cash
Atchison
V. 51, p. 608.
Pa., connecting the East Pennsylvania (Philadelphia & -B «® n g k $ p h
Stock and B onds.—Dividends have been—m 1879, 3 per cent; in
the Central of New Jersey. Leased for 999 years to Philadelphia & 1880, S^; in 1881, 6 cash and 50 stock; from 1882 to 1886, inclusive, 6
Reading and Central of New Jersey (by assignment from Lehigh Coal & per cent; in 1887, 614; in 1888, 514; in 1889 and since, nil.
Navigation) at interest on bonds and 5 per cent on $450,000 stock (par
afterwards in New York) was—
$50) bonds being guaranteed, principal and interest, by Philadelphia & inPrice of stock (in Boston till 1886 and in 1883, T8® ^ 1 in 1884, 5 9 £
1881, 92® 15414; in 1882, 78^®96is;
*
Reading and Lehigh Coal & Navigation.—(V. 50, p. 422.)
®80; in 1885, 63* 89^; in 1886, 8 4 ^ 9 9 % ; »
4®
9038® i l ^ a ; in
a®5038; in 1891, to
A sh e ville & Spartanburg.—(See Map Richmond < West Point Ter 1888, 5338®99i2; in 1889, 26!2®58; in 1890, 231
&
mined)— O
wns from Spartanburg Junction, S. C.,to Asheville Junction May 22, inclusive, 24%®345s.
,
, ,
,
-t
■
In August, 1890, a dividend of 2% per cent was declared on the new
N. C., 66 miles. Formerly Spartanburg & Asheville; sold m foreclosure
April, 1881, and reorganized. Stock, $1,050,000 ; par §jjp0.*j3ou- incomes for the nine months ending June 30,1890. (See earnings be­
trolled by Richmond & West Point Terminal, which owns $1,047J)81 low and V. 51, p. 205.)
.
.
Of the general mortgage 4 per cents, the authorized ¿sane on present
«took and $215,000 second mortgage bonds, and has pledged them
mileage is $150,000,000; of these there are reserved $17,676,000 for
{except a few shares of stock) under its collateral trust of 1889.
July 1 to December 31, 1890 (6 months), gross earnings were $86, treatment of old bonds and guaranteed notes not directly treated in the
reorganization plan, leaving a balance of $132,324,000 issued and to
-444, against $66,428 in 1889; net, $7,939, against $5,620.
In 1890 gross earnings were $150,133, against $121,225 in 1889, be issued. The bonds outstanding not directly treated in reorganiza­
tion. and against which $17,676,000 of 4s are reserved, are as follow s:
net, $12,303, against deficit of $2,941.
Atchison guaranteed fund notes, $7,000,000; Chicago & St. Lotus,
A tc h iso n Colorado Sc Pacific.—Owns Waterville, Kan., to Wash­ $1,500,000; St. Joseph St. Louis & Santa Fe first mortgage bonds,
ington, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles, $8,000; the St. Joseph Terminal & Railroad Company (Atchison s half),
Xogan to Lenora, Kan., 25 miles; Downs, Kan., t o Ball City, Kan., 24 $175,000; Atlantic & Pacific guaranteed 4 per cent bonds (Atchison 8
miles; Yuma, Kan., to Warwick, Kan., 31 miles; total, 254 miles. The half), $8,802,000; the Osage Carbon Company, $191,000; total $17,road forms an extension of the Central Branch Union Pa01“ ® wm®“
,
leased it in 1879 for 25 years, and guaranteed the bonds. Controlled by
The new general mortgage 4s and, subject to these, the income 5s, are
S
Pacific, but operated by Misiouri Pacific. Stock, $1,522 400 (par both secured by one indenture to the Union Trust Company of New
$100), of which Union Pacific and Central Branch own $920,300. Ren­ York, Trustee, and cover the entire property of the company, all snares
tal is $254,370 per annum.
of stock owned or controlled (except sufficient to qualify directors), 8^
A tc h iso n J e w e ll County Sc W e ste rn .—Jamestown, Kan., to bonds owned and pledged under trust deeds, and all securities deposited
Burr Oak Kan.. 34 miles. Under same auspices and control as Atcnison under the reorganization. The 4s may be issued to an amount not
Colorado & Pacific. Stock, $202,800 (par $100), of which Central exceeding $150,000,000 on present property, to carry out the reorgani­
zation plan, and additional amounts may be issued at $20,000 per mile
Branch Union Pacific owns $105,000. Rental is $34,000 per annum.
A tc h iso n T o p ek a Sc Santa F e . —(See Maps.)—Lin e o f R oad .— for extensions or double track. The incomes are limited to $80,000,000,
The Atchison Topeka & Santa Fe leased and consolidated lines include are non-eumulative, and may be redeemed at par on six months notice.
Abstracts of all the principal prior mortgages of the Atchison Topeka
the main line from Chicago, 111., to Kansas City (458 miles), and thence
to Denver, Col., 1,210 miles; also from La Junta, Col., via Albu- «fe Santa Fe Railroad Company were published in the Chronicle , V. 49,
p. 546-551, and of the new mortgages in V. 49, Pi 857-861. Of the old
auerque, N. M. (on the Atlantic < Pacific), to El Paso, Tex., 601 miles ;
fc
outstanding m December, 1890, about $1,900,000.
branches in Kansas, etc., 2,771 miles ; total, 4,582 miles. In addition bonds there remainedthe guarantee fund notes were authorized, secured
In November, 1888,
there are the Gulf Colorado & Santa Fe Ry. (owned absolutely), run­
by second mortgage on the main line in Kansas, and by deposit Of the
ning from Galveston, Tex., to Purcell, Ind. Ter., 518 miles, and branches
fc
540 miles; the Sonora Ry., from Nogales to Guaymas, Mexico, 262 stock of the Chicago Santa Fe < California and terminal companies.
miles ; the New Mexico & Arizona, 87 miles ; the Southern California The mortgage can be discharged whenever the notes are paid on an
Railway, 476 miles ; the St. Louis Kansas City & Colorado RR., 61
miles. Roads owned jointly with other railroad companies : Leaven­ O perations, F inances, «fee.—The company receives $30,000 a month
worth Topeka & South Western, 57 miles ; Manhattan Alma < Burlin­ from the Sonora Railway subsidy, payable in Mexican currency, pay­
fc
game, 56 miles ; Wichita & Western, 125 miles ; Atlantic & Pacific, 927 ments began in August, 1890, and will continue till $1,681,400 in ail
miles ; total owned jointly, 1,165 miles (of which 1,051 miles are now
o m O i l f l , 189o
(9 months),
wholly controlled). Total (including *2 of mileage operated jomtly), O r 7,114 miles were T to V a rch 31, 1891 $22,833,277, gross earrdngs
on
$25,210,097, against
in 1889-90 on
7.110 miles; net, $6,959,686, against $7,888,931.
.
^ ’T othe above in May, 1890, was added the mileage of the St. Louis &
Fiscal year ends June 30. Report for 1889-90 was given at lengtti
San Francisco Railway (1,851 miles), and in October, 1890, the mileage
o f the Colorado Midland (349 miles), making a grand total of 9,310 In the Chronicle , Y. 51, p. 831. See also p. 828 and article on p. 812.
The equipment June 30 consisted of 894 locomotives, 639 passenger
___ J
,__________; -v.* „„„„ or,/! OST miaf Allaneous Cars.
^In^N ovem ber, 1890, under a traffic arrangement with the Chicag




8

INYESTOKS’

SUPPLEMENT.

[VOL. LII.

Subscribers w i l l con fer a great faver by g iv in g Im m ed iate notice o f any error discovered In these T a b les.
RAILROADS.
Bonds—Prinef
INTEREST OR DIVIDENDS.
Miles Date Size, or
[pal, When Due,
Amount
For explanation of column headings, etc., see notes of
of
Par
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Atchison System —St. Louis A San Fran.-(Concluded)
2d mort. (now 1st), A, gold ) (Pacific to Seneca,c
294 1876 $100&c.
$500,000
6 g. M. & N. N. V.,Kidder.PeabodvCo Nov. 1, 190G
Series B, g o ld ..................> Mo.,«fe branches, c
294 1876 500 «fcc. 2,766,500
do
6 g- M. & N.
Nov. 1, 1906
Series C, g o ld ..................)
294 miles.
c; 294 1876 500 «fee. 2,400,000
do
6 g. M. & N.
Nov. 1, 1906
Equip, mort., gold, $80,000 dr. ann’lly at 1 0 5 ..c
1880
1,000
328,000
J. & D.
do
7 g.
June 1, 1895'
1st on Mo.&West.RR. ,g. ,$5,000yearly[dr.at 105. c’
82 1879
1,000
1,071,000
fc
do
6 g- F. < A.
Aug. 1, 1916
Collateral trust bonds, gold, sink. fd. not drawn, c* 103 1880
1,000
1,131,000
do
6 g. F. & A.
Aug. 1, 1920
Gen. M., g. (1st on 365 m.) $7,807,000 are 6s...c* 964 1881
1,000 20,110,000 5 & 6 g. .1
.1
do
July 1, 1931
Collat. Tr. M. on br’ ches ($20,000 per mile), gold. c
55 1887
1,000
1,099,000
fc
do
5 g. A. < O.
Oct. 1, 1987
Equipment Trust $23,000 due each A. < O..........
fe
1884
1,000
142,000
fc
do
do
6 g- A. < 0.
A.&0.5p.o. ea.
St. L. Wich. & West. 1st M., red. at 105, g., guar.. e
Ì45 1879
1,000
2,000,000
&
do
6 g- M. < S.
Sept. 1, 1919
Kan.C.&S.W. lstM .,g.,red.atllO ($12,000p.m.).o*
62 1886
1,000
744,000
fc
do
do
6 1- J. < J.
Jan. 1, 1916
St. L. Kan. & S. W. 1st M., g., guar., red. at 110.c
70 1886
1,000
890,000
fc
do
6 g. M. < S.
do
Sept. 1, 1916
■ St. L. Salem < Ark. IstM.,guar.,redeem, at 105.c*
fe
54 1886
1,000
810,000
5 g. J. & D.
do
Dec. 1, 1936
Kan.Midland 1st M .,g.,$15,000p. m .,int.guar..c 107 1887
1,000
1,608,000
do
4 g. J. & D.
do
June 1, 1937
Ft. S. & Van Bur. Bridge 1st M., g., dr. at 105, guar.
1885
1,000
430,000
do
6 g. A. & O.
do
Apr. 1, 1910
Atlanta A Charlotte—Stock (5p.c.rentalRich.«feDan.) 269
100
1,700,000
fc
3 - M. < S. N.Y.Cent.Tr.Co..54Wall March 6 , 189Ì
Preferred mortgage, redeemable at 100.............c* 26512 1877
1,000
500,000
A. «fe 0.
7
do
April 1, 1897
1st mortgage............................................................ r 26512 1877
1,000
4,250,000
do
7
J. & J.
do
Jan. 1, 1907
Income bonds (not cumulative), guaranteed___r
1880
500
750,000
A. & 0.
do
do
6
April 1, 1900
Atlanta A Florida—1st mort. ($8,000 p. m.) gold, .c* Ì05 1889
1,000
840,000
6 g. M. & N. N.Y. A. Dutenhofer.
Nov. 1, 1939
Atlanta A 1
Vest Point—Deben. cert, redeem, in 1891.
1881
1,000
1,232,200
6
J. & J.
Atlanta, Ga.
July, 1891
Atlantic City—1st mortgage, gold............................ c* loi 1889
1,000
2,200.000
5 g. M. «fe N. Phila.. 227 South 4th St. May 1, 1919
Atlantic A Danville—1st mort. gold, $16,000 p. m.c* 299 1887
1,000
4,792,000
6 g. A. & O. O ct.,’90 coup.last naid. Oct. 1, 1917
Atlantic A St. Lawrence—Stock, 6 6rental Grand Tr’k 151
5
100
5,484,000
M. «fe S. London and Portland. March, 1891
3
Augusta A Savannah—Stock 7% rental Central G a..
53
100
1,032,200
3^2 J. «fe D. Savannah, Co.’s Office. June, 1891
Bald Eagle Valley—1st mort. (s. f., drawn at 100). .r
89 1880
1,000
360,000
6
J. «fe J. Phila.,F.Ins.Tr.«feS.Dep. Jan. 1, 1902
Baltimore Belt—IstM. for $6,000,000, g.,int. gu.c*
8 1890
1,000
5,000,000
5 g. M. «fe N. N.Y.,Brown Bros.&Balt Nov. 1, 1990
Balt. A Eastern Shore—Consol, mortgage.......g.c*&r
87 1890
1,000
1,600,000
5 g. J. «fe J.
In default.
July, 1920
OPERATIONS AND FISCAL RESULTS FOR YEARS ENDING JUNE 30.
bonds are redeemable before maturity at 105. See V. 51, p. 142, 248.
In OctODer, 1890, the Atchison Topeka & Santa Fe purchased the en­
> ,
1888-89.
1889-90.
Miles operated June 3 0 .................................
7,112
7,110
tire capital stock of the Colorado Midland. See Y. 51, p. 608.
Operations—
_ Stock, $8,000,000; par, $100. Abstract of first mortgage in V. 45, p .
2-420 cts.
2-234 cts 540, and application to Stock Exchange in full in V. 48, p. 69. Central
Rate per passenger per mile........................
Rate per ton per mile.................................... 1 -278 cts.
1 -228 cts Trust Company of New York is trustee of both mortgages. Abstract
Earnings—
1888-89.
1889-90.
of consolidated mortgage of 1889 was in V. 51, p. 572. The consols
Passenger......................................................... $7,199,994
$6,610,034 are guaranteed by endorsement as to both principal and interest b y
Atchison. Both issues of equipment bonds are redeemable by sinking
Freight..............................................
17,914,97521,733,154
Mail, express, «fee............................................
2,457,900
2,661,169 funds at 105, and are to be paid at maturity at same rate.
„F rom July 1,1890, to M arch31,1891 (9 months) gross earnings were
Total gross earnings............................... $27,572,869
$31,004,357 fl<454,747, against $1,223,455 in 1889-90; net, $461,984, against
Total operating expenses................................ 20,800,478
20,920,386 f385,074. Mileage, 350 miles, against 287 in 1889-90. Report for
m Chronicle , V. 50, p. 382. In 1889-90 gross, $1,724,791; net,
Net earnings............................................... $6,772,391 $10,083,971 $558,943; surplus over charges, $2,943.—(V. 50, p. 1 7 3 ; V. 51, p. 142.
240,241,344, 3 8 2 ,3 8 3 ; V. 51, p. 457,493,572,608,680; V. 52, p. 238.)
Per cent o f operating expenses to earnings.
75-44
67-48
A tch iso n System .—St. L o u
INCOME ACCT. OF CONSOL. SYSTEM—9 MOS. OCT. 1,1889, TO JUNE 30,1890. Owns St. Louis, Mo., to Seneca, is & San F ra n c isc o .—(See Map.)
326 m iles; Pierce City to Wichita,
Gross earnings............. ........................................... ...................$22,623,952 Kan., 217 miles ; Monett, Mo., to Paris, Tex., 303 miles ; branches, 202
miles; total o w e d June 30,1890,1,048 miles. Leases 286 miles, and
Total net income, including income from investm’ts ($412,fc
685) and sundry profits ($441,515)..................................... $8,486,550 half owns the Atlantic_ < Pacific Central Division, 112 miles; Western
Division, 806 miles; Wichita & Western, 124 miles; total (counting oneDeduct—
half of mileage half owned), 1,855 miles.
Interest on guaranteed fund notes and 4 p. ct. generals___ $3,947,709
Interest on 5 per cent incomes (2% p. ct.).............................
2,195 066 „ P koanization , &c.—This company was organized September 20,
Interest on other b o n d s ..................................... .................. g
68 ’350 1876, as successor to the Atlantic & Pacific in Missouri. In May, 1890,
Rent o f track and rolling stock....................................*
319*834 the Atchison Topeka & Santa Fe Railroad Company acquired most o f
Taxes.................................................................................. . '.’ I ll
’ .
940,107 the common and preferred stock and assumed control of the road. Sefr
St. Louis & San Fran. Ry. (under agreement of Oct., 1886).
198,132 Chronicle, V. 50, p. 734, 771. With the Atchison this company guar­
St. Louis Kansas City & Colorado deficit.....................
101,684 antees severally, not jointly, one-half the first and second mortgage
Atlantic < Pacific deficit............................................................
fe
220 256 bonds of the Atlantic & Pacific, of whose securities it owns $28,077,800
Miscellaneous..................................................................... *’ ’ ’ ‘
47’218 stock, $777,000 Central Division incomes, $373,500 Western Division
incomes and $79,000 first mortgage bonds.
Total deductions.................................................................. $8,038,356
Stocks and B onds.—The first preferred stock has prior right to 7 per
Balance, surplus for nine months............................................
$448,194 cent (non-cumulative); then preferred entitled to 7 per cent; then com­
- (V. 50, p. 314. 351, 422, 482, 661, 734, 755: V. 51, p. 20, 142, 171, mon entitled to 7; then all classes share in any surplus. The terms of'
205, 344, 383, 493, 608, 786, 8 1 2 , 8 2 8 , 831 ; V. 52, p. 40, 547, 570.) the first preferred stock are stated as follows: “ This stock is entitled toa dividend of 7 per cent per annum * * * and by resolution of theA t c h i s o n ‘ y s t e m .—A t la n t ic de P a c i f i c .—(See Map Atchison company has priority of lien on net revenues for such dividend over any
Topeka A Santa Fe).—Owns Western division from Isleta, N. M., near mortgage bond that may be issued by the company subsequent to the
Albuquerque, on Atchison, Topeka & Santa Fe, to Big Colorado River, creation of this-stock.”
560 miles, with Gallup junction branch, 4 miles. Leases from Big Colo­
In April, 1891, the Atchison Company offered $4,500,000 of new 4
rado River to Mojave, Cal., 242 miles; Atlantic & Pacific junction to per cent bonds of the 8t. Louis & San Francisco Railway Company,
Albuquerque, N. M., 13 miles; total operated, 819 miles. Owns also when issued, to the holders of the first pref. stock .' Stockholders upon
Central Division, Seneca, Mo., to Sapulpa in the Indian Territory 112 surrender of their certificates will receive par in the new bonds and in­
miles, operated by the St. Louis & San Francisco Railway Co.
terest in cash at 4 per cent continuously from January 1, 1890. V.
This company, chartered by act of Congress July 27, 1866, forms an 52, p. 547, 570. Certain of the first preferred stockholders opposed
important link in the Atchison system. Its authorized stock is $100,000 - this plan and asked for a receiver. See Y. 52, p. 681, 718, 796. This
000 (par, $100), of which $79,760,300 has been issued, $51,503,800 of offer expires June 3,1891. See below.
this being owned by the Atchison Topeka & Santa Fe and the St. Louis
The common stock is $11,859,300; preferred (7 per cent non-cumula­
& San Francisco companies equally and deposited in trust for thirty
non-cumulative), $4,500,years. The stock is classed thus: Western Division, common stock tive), $10,000,000; 1st preferred (7 per cent announced that the com­
000—par, all, $100. In August, 1890, it was
$78,271,600; Missouri Division, preferred, $78,700; Central Division’ mon stock not held by the Atchison was $532,400 and the preferred
preferred, $1,400,000.
$890,900. See V. 51, p. 241.
The guaranteed trust bonds due in 1937 are guaranteed severally (but
Dividends on first preferred stock—From 1881 to 1889, inclusive, 7
not jointly) by the Atchison and St. Louis & San Francisco, each com­ per cent per annum; in 1890, February 10,2 per cent; since, nil.
pany guaranteeing one-half of each bond. They are redeemable at any
Dividends on preferred—In 1887, 2% per cent; in 1888, 5; in 1889, 3;
time at 105. The 2d mortgage bonds have same guarantee as first in 1890, passed January, April and July dividends.—(See V. 50, p. 72.)
mortgage; the sinking fund is $100,000 per year; bonds may be drawn
In April, 1891, the company decided to issue a new consolidated
at 105. (Atchison owns $3,009,000 of these seconds.) [Abstracts of all
4 per cent gold bonds, covering all its prop­
the-mortgages were published in the Chronicle, V. 49, pp. 302 to 304 1 mortgage for $50,000,000 of subject only to $36,077,500 direct mort­
erty, equipment and lands,
In 1884 the Southern Pacific sold the 242 miles of road from Moiaveto gage bonds of the company on its own and leased lines. The priorThe Needles, on the Colorado River, to this company for $7,271100
their respective
payable in Atlantic & Pacific first mortgage bonds, issued on said’ 242 bonds will be gradually retired by the operation ofnew'bonds. Thisrsinking funds and maturities, and be replaced
miles to amount of $6,059,250, and $1,211,850 in cash. Until clear title will leave $13,932,500 new consolidated bondsby the
available for the follow­
to this piece of road is given, the Atlantic & Pacific takes possession and ing purposes: (1) For retirement of $2,800,000 Atlantic & Pacific RR.
pays 6 per cent per annum on the $7,271,000. The same negotiation Company’s 2d mortgage 6s, guaranteed both principal and interest b y
gave a right to run through trains to San Francisco over the Southern the St. Louis & San Francisco RR. Company. (2) To provide for com­
and Central Pacific lines either on a mileage basis or at 3 per cent ner pleting the road and placing the properties in sound financial and phys­
annum on $40,000 per mile. See V. 39, p. 208; V. 40, p. 50
y
retire
The land grant claimed under the old Atlantic & Pacific charter of July ical condition. (3) To V. 52, at par, as stated above, $4,500,000 of 1st
preferred stock.—(See
p. 570.
1866, is 25,600 acres per mile in Territories and 12,800 acres in States’
St. Louis Wichita & Western bonds covering road from Oswego toOn the Western Division the company has earned under its grant 2 0 - Wichita, Kan., are subject to call at 105. The Kansas City < Southwest­
fc
295,296 acres of land, 5,324,181 of which were sold to June 30 1890
to
years
leaving 14,971,114 acres undisposed of. Receipts in 1889-90 (including ern RR. from Beaumont, Kan.,the Cale, 62 miles, is leased for 99 bonds.
at a rental guaranteed to pay
interest on the first mortgage
stum page), $3,330,260; payments, $2,841,261; surplus, $488,998 A These bonds are redeemable on notice at 110. The St. Louis Kansas &
map of the land grant was published in the Chronicle, V. 36 p. 468 Southwestern bonds are subject to call at 110.
In year ending June 30,1890, gross earnings were $2,816,401- net
The St.
Cuba to
$393,998; deficit under charges, $1,307,360. In calendar vear i8 8 8 ’ Mo., and Louis Salem & Arkansas first mortgage bonds, St. LouisSalem,
branches, 54
by
& San
gross, $2,980,084; deficit under operating expenses, $70,465 —(V 48’ Francisco) are issued atmiles (guaranteed absolutelyredeemed on notice
$15,O0O per mile,and may be
p. 37, 763 ; V, 50, p. 770; V. 51, p‘ 837..)
* ’
(V 4=8,
at 105. Kansas Midland first mortgage bonds (Wichita, Kan., to Ells­
At<*hiso n S y s te m .—C o lo r a d o m i d l a n d .—('See""Man.j—ow n s worth, 107 miles) are at $15,000 per mile, and interest is guaranteed
from Colorado Springs to New Castle, Col., 234 miles; Aspen branch 18 under lease o f 97 years by St. Louis & San Francisco..
miles; Jerome Park branch, 15 miles; leases New Castle to Rifle Creek
The Fort Smith & Van Buren Bridge bonds are guaranteed. They have
14 miles; Bio Grande Junction RR., Rifle Creek, Col., to Grand Junction’ a sinking fund of 5 per cent yearly to draw them at 105; they are all re­
on the Rio Grande Western,62 miles; other, 6 miles; total 349 miles’ deemable at 110 at company’s option. The land department assets
In 1890 leased jointly with Denver & Bio Grande the Rio Grande were estimated June 30,1890, at $511,226, including 122,701 acres o f
Junction RE., 64 miles (which see), over which in November 1890 was land, valued at $319,024, town lots, land contracts and cash. flT FmhU
O O3
8
opened a through standard gauge line between Colorado Springs’ and
'
inances, ¿ —From July 1,
Ogden. See Y. 51, p. 680. In August, 1890, leased the Busk Tunnel (96 perationsI Fearnings onc .1,865 miles were 1890, tcTMarch '31^l'89i
months), gross
$6,403,127, against $5,Railway and guaranteed the principal and interest of its bonds These 960,278 on 1,855 miles in 1889-90; net, $2,278,858, against $2,512,910.




Ma t , 1881.J

RAILROAD

STOCKS AND

BONDS.

Subscribers w i ll con fer a great fa v or by giv in g Im m ediate notice o f any error discovered i n these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,^When Due.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
M. & N. Balt. Office, Cent. Bldg, May 1, 1887
4
$100 $14,792,566
Baltimore < Ohio—Stock (see remarks)
6
Jan. 1, 1891
do
do
J. & J.
5.000.
000 3
100
1st and 2d pref. stock, cum., $3,000,000 is 1st pref
At will.
do
do
J. & J.
4
579,500
379 1853 500 &c.
Loan due in 1880, extended, payable at w ill...
Oc*. 1, 1935
do
do
4 g. A. & O.
1,709,500
500 &c.
379 1853
¡Loan, 1853, extended in 1885, gold................
M. & S. Lond’ n,Baring Bros&Co Mch. 1, 1895
3,454,792
6 g.
£200
Loan, 1870. sink, fund £16,000 yearly, not drawn 379 1870
Mch. 1, 1902
do
do
6 g. M. & S.
9,301,512
£100
Mortgage 1872, sink, fund £12,000 semi-annually 421 1872
9,634,504
6 g. M. & N. London, J.S.Morgan&Co May, 1910
£200
421 1874
Mortgage 1874, sink, fund £9,000 semi-annually
July, ’91-1900
Baltimore, Office.
6 * J. & J.
400.000
379 1875
Bond to City Baltimore (payable $40,000 yearly)
5 g. F. & A. N. Y., Union Trust Co. Feb. 1, 1988
1,000 12.747.000
511 1887
Consolidated mortgage (for $29,600,000) gold.c
.
7,145,776
5 g- j j & D. London, J.S.Morgan&Co June 1, 1927
£200
Loan,1877 (s. f. dr’n a t l 00)(B.&O.&Ch.bds.col’l)c 263 1877
J. & J. Baltimore, B. & O. RR. Mch. 1, 1902
6
140.000
N. W. Virginia RR. 1st M. (ext. in 1888) assum.c) 104 \ 1855 $1,000
A. & O. N.Y., D. M. & Co. & Balt. April 1, 1919
3.000.
000 6
1,000
1879
B. & O. loan 1879 (Parkersb’g Br. bonds collat.) 5
4^2 g. A. & O. London, Brown, S. & Co. April 1, 1933
£200 11.616.000
Mort. on Phila.Br.. with Balt. & Phila. bds.as c o l.. 108 1883
J. & J. Baltimore, B. & O. RR. July, 1898
7
4 , 000,000
Pittsburg & Connellsville 1st mortgage.............— 149 1868 $1,000
6,567,880
6 g. J. & J. Lond’n, J.S.Morgan&Co. Jan. 1, 1920
£200
Consol. mort.,guar.B. & 0.(8. f. £7,200 per yr.). 149 1876
10, 000,000
5 g. F. & A. N. Y., Union Trust Co. Feb. 1, 1925
B. & O. loan, 1885,g. (Pitts. & Conn. bds. as col.).. 150 1885 $1,000
1.500.000
4*2 g. J. & J. Balt’me, Merc. Trust Co. 10 p. c. yearly.
1,000
1887
Car trust loan, gold ($250,000pd.yearly Jan.l) .c
A. & O. Phila., Fin’ce Co. of Pa. 1892 to 1899
5
800.000
1,000
1889
Equipment trust ($100,000 paid yearly April 1)
N v .l,’ 91-1900
do
do
M. & N.
5
2 , 000,000
1,000
1890
Equip, trust, Ser.B.,$200,000 due y’rly Nov. l.c*
Dec. 1, 1935
J. & D. Phila., Solicitors’ Co.
5
4.500.000
1,000
10 1886
o ( Schuyl. R. East Side RR. 1st M., g. (guar.'
o
Feb. 1, 1919
New York,
F. & A.
5
700.000
1,000
32 1889
«2? I Monongahela River RR., IstM ., gu., g ..o
May 1, 1939
do
M. & N.
5
350.000
1,000
5 1889
£§£ < Balt. & N. Y. RR., 1st M., guaranteed, .c&r
M. & N. N. Y., Merc. Trust Co Nov. 1, 1930
5
1.500.000
1,000
73 1890
V'3 |Akron & Chic. J. 1st mort, gold, int. gu.c*
M. & N. N. Y.,Brown Bros.&Balt Nov. 1, 1990
5
5,000,000
1,000
8 1890
* P [ Balt.Belt.lstM.for $6,000,000,g.,int.gu.c*
-1 3
7 ~ J. & J. N. Y., Farmers’ L. & Tr. Jan. 1, 1900
333.000
1,000
5 1869
Baltimore < Ohio Southwestern—Cin. & Balt. 1st M,
6
Jan. 1, 1990
do
do
4*2 g J. & J.
1,000 10,667,000
281 1889
1st mortgage (guaranteed by Balt. & O.) gold, .c
Oct. 1 In 1891 paid 4 per cent. Jan. 1, 1990
5.500.000
5 g
1,000
281 1889
1st pref. Income mortgage, not cumulative, g ..c
Jan. 1, 1990
N. Y.—When earned,
Nov. 1
5
6.400.000
1,000
281 1889
2d pref. income mortgage, not cumulative, g ..c
Jan. 1, 1990
do
do
Dec. 1
5
7.700.000
1,000
281 1889
3d pref. income mortgage, not cumulative, g-.o
Balt. Office and London, July 1, 1911
J. & J.
6
1.500.000
1,000
1871
l^
Balt. < Potomac—1stM. (tun.) g., s. f.lp.c.,notdr n.c
6
A. & O. Balt. Office, Calvert St, April 1, 1911
3.000.
000 6
1,000
90 1871
1st M., road,guar., gold, s. f . 1 p. c., not drawn.. c
July 1, 1929
do
do
J. & J.
3.000.
000 5
1.000
92 1889
Consolidated mortgage for $10,000,000, gold..o
« a i d E a «le V a lle y .—Owns from Vail Station, Pa., to Lockhaven,
Fiscal year ends June 30. Report for 1889-90 in V. 51, p. 828, 841. Pa 51 m iles; branch to Bellefonte, Pa., 3 miles; Nittany branch, 10
In the following the figures for 1886 and 1887 are for the calendar miies; Snowshoe to Sugar Camp, 25 miles; total operated, 89 miles.
year:
Leased to Pennsylvania RR. Co. for 99 years from December 7,1864.
INCOME ACCOUNT.
Rental, 40 per cent of gross earnings. Rental, eto., m 1890, $265,007,
1888-89.
1889-90.
against $208,418 in 1889; surplus o je r fixed charges, $226,816, out of
1886.
1887.
which paid dividends (10 per cent) $140,623. Stock is $1,406,250
$
$
Gross earnings............ 4,874,628 6,229,344 5,807,176 6,394,069 (par $50) of which Pennsylvania RR. owns $706,250. Dividends
2,914,688 are paid February and August at Treasurer’s office. (V. 49, p. 82.)
Net earnings............... 2,652,332 3,247,477 2,460,019
100,933
Other receipts.............
159,619
190,332
B altim ore & E astern Shore.—Owns Claiborne to Ocean City,
3,015,621 Md., 87 miles. Completed early in 1891, and in April, 1891, Capt. Wil­
Total net income.. 2,811,951 3,437,809
lard Thomson was appointed receiver. The Baltimore & Ohio will de­
Deduct—
gl„ „ „
2,572,006 vote a certain percentage of the gross revenue from interchanged traffic
Int., sink, fund, &c___ 1,956,297 2,219,901
190,000 to the payment of interest on the bonds. See V. 51, p. 718. Stock au­
D ividends.......... : ........
315,000
565,000
thorized $1,000,000; outstanding, $478,000; par $50.—(V. 51, p. 20; V.
253,615 52, p. 641.)
Balance, surplus........
540,654
652,908
........
—(V 50. n. 7 2 .7 0 1 , 703, 7 0 4 ,7 3 4 ,7 7 1 , 833, 9 05; V. 51, p. 85, 207»
B a ltim o re B e lt.—("See M ap.)—This railroad, when completed, will
241,'348,^48, 786, 8 2 8 , 8 4 1 ; V. 52, p. 204, 351,499,547,643,681, run from the Baltimore & Ohio RR. Company’ s Camden Street Station,
718, 7963
in the city of Baltimore, by tunnel and open-cut, through a portion of
A tla n ta & C harlotte A ir L in e.—Owns from Charlotte, N. C., to said city to the junction with the Baltimore & Ohio’s Philadelphia
Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold branch near its Bay View yard, thus forming a connecting link between
under foreclosure December 5,1876, and the existing corporation was the main line of the Baltimore & Ohio and the Philadelphia branch. Its
formed February 27,1877. On March 26,1881, the road was leased to total length with branches will be about 7 miles. It is leased for 999
the Richmond & Danville for 99 years, at a rental of $466,500 per year, years to the Balt. & O. RR.,Co. which controls its entire com. stock and
equal to the interest on debt and 5 per cent on stock; if gross earnings guarantees the completion of its line and the unconditional payment of
of Atlanta & Charlotte Air-Line exceed $1,500,000, dividends to be 6 the interest on its bonds, the guarantee of interest being endorsed on each
per cen t; and if they exceed $2,500,000, 7 per cent. Due Richmond & bond. The mortgage is for $6,000,000, but $1,000,000 is to be issued
Danville for betterments, as per that company’s balance sheet on June only when future requirements of the company demand. The bonds are
30,1890, $1,183,846.
* * * a first lien upon the railroad, franchises, branches. and equipment,
Dividends have been—From 1881 to March, 1890, inclusive, at rate of now or hereafter owned by the company. See full abstract of mort­
5 per cent yearly; in September, 1890, 3 per cent; in 1891, March 6, 3 gage in Chronicle, V. 52, p. 205. (V. 51, p. 405, 718, 829; V: 52, p.
percent. See V. 51, p. 20. In 1890 gross earnings were $1,68.,335, 203, 205.)
against $1,516,416 in 1889.—(V. 51, p. 20.)
B altim ore & O h io.—(See Map).—Operates Baltimore to Chicago
A tla n ta & F lo r id a .—Owns from Atlanta southerly to Fort Valley» 853 miles, and has, via the Baltimore & OhioSouthwestern, a direct route
Ga., on Central Georgia Railroad, 105 miles; extension to tidewater pro­ to Cincinnati, 593 miles, the total mileage leased, owned and operated
tected. This is the Atlanta & Hawkinsville, incorporated in 1886; name (excluding the Baltimore & Ohio Southwestern) being 1,934 miles, of
changed in 1887. Constructed by Georgia Improvement Company, which 645 miles are west and 1,289 miles east of the Ohio River.
which received $10,000 stock per mile. Trustee of first mortgage
Organization , L eases, &c.—The corporation was chartered m Mary­
$1,200,000 is Central Trust Company. Stock outstanding, $1,115,000; land February 28,1827, and in Virginia March 8,1827. First seeuon
par, $25. Car trusts August, 1890, $64,000. From January 1 to March opened May 24,1830. The Baltimore & Ohio Telegraph Company s stock
31,1891 (3 months), gross earnings on 105 miles were $29,043, against owned by the Baltimore & Ohio Railroad Company was sold out to
*29,367 in 1890; deficit under operating expenses $3,604, against net Western Union for $5,000,000 Western Union stock at par and a rental
o f $4,703. In 1890 gross earnings were $128,842; net, $7,550. of $60,000 per year for fifty years.
____
In 1889 gross, $100,022 ; net, $17,342.
In 1890 a syndicate purchased $2,955,000 common stock (including
A tla n ta & W e s t F o in t.—Owns from Atlanta, Ga., to West Point, that held by the City of Baltimore), and this stock, together with tnat
Ga., 8 6 ^ miles. In April, 1881, a controlling interest in this company held by the Garrett interest ($8,975,000 in all) has been deposited in
was acquired by the Central Georgia through purchase of $188,500 stock trust with the Farmers’ Loan & Trust Co., and will be voted on for
and the lease of the Georgia Railroad, under which lease $440,900 stock three years from June 23,1890, by Mr. C. F. Mayer, President of the
and the same amount of debt certificates are held. A stock dividend ol Baltimore & Ohio, and his two nominees. It was reported that Ricn100 per cent was declared in 1881 in debenture certificates. Any mort- mond & West Point Terminal Company parties would own $1,200,000
age issued must be subordinate in lien to these certificates. Stock, of the stock held in trust. (See V. 50, p. 874; V. 52, p. 462.) The
State of Maryland sold its preferred stock and now appoints but two
1,232,200; par, $100.
..
Dividends paid in 1889, 6 per cent; in 1890, 6. In year ending June directors, which represent its Washington Bran oh stock.
For contract with Akron & Chicago Junction and-Baltimore Belt
30,1889, gross earnings were $424,517; net, $139,044; m 1889- 90,
gross, $473,441; net, $168,363; interest naid, $73,932; dividends paid roads see V. 51, p. 344. In February, 1891, $6,050,000 common stock
of the Pittsburg & Western RR. Co. was bought with Baltimore & Ohio
<6 per cent), $73,932.
A tla n tic City.—Camden to AtlanticCi ty, 54 miles; with branches,&c. stock to the reported amount of about $2,400,000. The .P’
of 49 miles. Consolidation in 1889 of the Philadelphia & Atlantic City form a link in the new through route to Chicago. See V. 52, p. 238.
Stocks and B onds. —The $8,975,000 common stook dejmsited m
RR. and other lines. Stock authorized and issued, $1,200,000 common
and $1,000,000 preferred. Controlled by Philadelphia & Reading RR. trust as above stated is the “ trust stock” dealt in on the Baltimore
Trustee of mortgage, Guarantee Trust & Safe Deposit Co. of Philadelphia. Exchange. Preferred stock carries 6 per cent dividends only.
Dividends on common stock—In 1877,8 per cent; in 1878,8 in sto ck ,
In year ending November 30,1889, gross earnings were $563,977; net
in 1879, 4 stock and 4 cash; in 1880, 9 ; in 1881 to 1885, inclusive, 10,
•over operating expenses, $69,715. (V. 52, p. 824.)
1886, 8; in 1887, ; none since. _
„
,
A tla n tic & D a n v i lle .—Completed February, 1890, Portsmouth, inPrice of common 4stock in Baltimore—In 1881, , Q „ 01 n . iT i » «a
183®210, m 1882,
near Norfolk, to Danville, Va., with branches, 245 miles, and Claremont 190@202; in 1883,192V ® 205; in 1884,167@199 ; m 1885,166%®
to Belfleld (3 feet gauge) -54 miles; total, 299 miles. From Danville 185; in 1886,150@191; in 1887,104® 180; in 1888, 80@ 106^ , m
the Danville & East Tennessee was projected by parties in same interest 1889, 81 a>101 ^ in 1890 92V® 107 * in 1891 to May 22 inel.,85® 93V
2;
to Bristol, on East Tennessee Virginia & Georgia RR. In January,
Of the bonds given in the table as outstanding thesm km g funds heia
1891, Messrs. Alfred P. Thom and C. H. Cromwell were appointed re­ Sept. 30,1890, consols of 1887 to the amount of $2,647,000 (interest on
ceivers. See. V. 52, p. 80. In March, 1891, $250,000 receiver’s cer­ which is paid in consols themselves) and other first-class interest-bear­
tificates were authorized. Trustee of mortgage, Mercantile Trust Co. ing bonds to a total of $5,452,908, also $ 1 , 5 1 9 , 7 canceled bemds,
Stock authorized, $20,000 per mile; outstanding, $4,311,390; par, $100. which (contrary to company’s custom) are deducted m table above from
From January 1 to July 31,1890 (7 months) gross earnings were
„
„.
, „ Cn. v
$281,458, against $195,314 in 1889; net, $91,860, against $87,981. amount outstanding.
The consolidated mort. of 1887 (trustee, Mercantile Trust & Dep. Co.)
Gross earnings in 1888, $204,064; net, $96,847. In 1889, gross, $383,- covers the main line, Baltimore to Wheeling, and branches, 444 miles,
356; net, $173,431. (V. 50, p. 70, 243; V. 52, p. 80, 462.)
the two Ohio River bridges, stock of the Was hi nj£°nbr aneh f o r$ 1,028,A tla n tic & St. L a w ren ce.—Owns from Portland, Me., to Island 000, and the entire issue of first mort. bonds ($0,000,000) on the road
Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk between Pittsburg and Wheeling. The balance of consols unissued isre•of Canada, to which leased for 999 years, August 5, 1853, at a rental served to retire the prior bonds not held by the sinking funds. Abstract
eaual to bond interest and 6 per cent on stock. The funded debt con­ of mortgage was in V. 46, p. 804. The loan of 1877 is secured by ¿«P08«
sists of 2d and 3d mortgage bonds, $2,213,000, which the Grand Trunk of the entire stock and bonds of the Chicago Division. The loan of
holds and has pledged for its debenture stock. The stock of $5,484,000 1879 is secured by deposit of mortgage for $3,000,000 on the Parkers­
is mostly £, with dividends payable in London.
. burg branch, this mortgage being subject onlyto’ $140»000 North Vestr
In 1888-89 gross earnings were $1,063,967; net, $244,375; deficit ern Virginia bonds assumed by Baltimore & Ohio. The loan of 1883 is
secured by first mortgage on the Philadelphia Branch and pledge of all
under interest, &c., $236,226.
A u g u sta & S a va n n ah .—Owns from Millen to Augusta, Ga., 53 first mortgage bonds of the Baltimore & Phi\a^ ^ ^ nR^ ‘h
miles. Leased in perpetuity to Central of Georgia for $73,000 per State line to Philadelphia), amounting to £1,0W ,W 0. The loan 1 «
1885 is secured by $10,000,000 2d consolidated bonds of Pittsburg^«
annum. Has no bonded debt.

f




INVESTORS’
SUPPLEMENT.
[VoL.
lu .




m at,

1891.]

RAILROAD
STOCKS
AN D
BONDS.




INVESTORS’
SUPPLEMENT.
[Vol. LII.




¡ 1891.]
RAILROAD
STOCKS
AR D
BONDS,




IN VESTORS’
SUPPLEMENT.
V ol.

h i.




RAILROAD STOCKS AND BONDS
1891.j



INVESTORS’ SUPPLEMENT.

1 6

IvoL.

l ii.

Subscribers w i ll con fer a great fa v o r by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
Beech Greek—Stock (guaranteed 4 per cent)..........
1st morteaee. gold, guar, by N. Y. Central— c&r
Bellaire Zanesville < Gin.—Prior lien mort.,red at 105
£
1st mortgage for $1,000,000................................
Belvidere D el—1st M., ext’d in ’77, conv., guar....... B
Cons. mort. of 1876, sinking fund, not drawn...... e
Cons. M. of ’76, guar, by Un. Co’s & Pa. RR.,s. f .. r
Benninaton d Rutland—1st mortgage...................
b
Berkshire—Stock (7 p. c. perpet. rental Housatonic)
Billinas C.F.& G’ke 0.—Gen.lst M.s.f.red.at 110,g.c *
Birminaham Sheffield < Tenn. River—1st mortgage
6
Boston < Albany—Stock ($30,000,000 authorized).
É
Plain bonds, not mortgage.................................. c&r
Bonds of 1875 not mortgage..............................c&r
Bonds (not mort.) lssuec [ to State for its stock... r
Boston < Lowell—Stock..
6
Bonds,not mortgage..
Boston & Maine gives
Bonds
do
a rental guarantee
Bonds
do
for 99 years.
Bonds
do
Bonds
do
Lowell & Law. bonds..
Salem & Lowell bonds.
Nash. & Low plain b’ds
Do
do
Boston < Maine—Stock..
6
Preferred stock, 6 per cent, not cumulative.......
Plain bonds, not mortgage.................................c&r
Imp’ntbonds ($1,000,000 due Feb., 1905) s. f . ..
Do
do
...............

$50 $5,000,000 4 per an.
131
1,000
5,000,000
131 1886
4 g4
102 1889
250,000
738,000
4
102 1890
1,000
64 1867
1,000,000
6
1,000
722,000
7
67 1876
4
1,250,000
67 1885-7 1,000
1,000
59 1877
475,000
7
100
22
600,000
1%
51 1887 500 &c.
6 g1889
2,600,000
5
Ï00 20,000,000
2
1872
1,000
5,000,000
7
1,000
1875
2,000,000
6
1882
100
3,858,000
5
100
5,529,400
33a
1872
1,499,500
7
1876
750,000
6
1879
620,000
5
1883
250,000
43a
__ 1885-9
3,675,000
4
200,000
6
226,900
6
1873
200,000
6
1880
100,000
5 giöo 16,297,744
43a
100
3,149,843
3
1873-4 500 &c.
3,500,000
7
1885-7 1,000
1,500,000
4
.... 1887 1,000 1,909,000
4

«Connellsville RR., deposited ■with Union Trust Co., of N. Y., as trustee.
See Pittsburg & Connellsville.
The bonds of the Schuylkill River East Side RR. are guaranteed by
Baltimore & Ohio (the Pennsylvania Company for insurance on Lives,
Ac., being mortgage trustee). So too are the Monongahela River 5s,
which cover road from Clarksburg to Fairmount, W. Va., and the Balti­
more & New York 5s, covering 5 miles of road from west end of the
Arthur Kill bridge o f the Staten Island Rapid Transit RR. to a junction
with the Central of New Jersey RR. near Roselle, N. J.
The Akron & Chicago Junction 5 per cent bonds cover road to be conetruoted from Akron to Chicago Junction, 73 miles. They are guaranteed as to interest, as also the Baltimore Belt bonds on line building
through the City of Baltimore. See V. 51, p. 344, 405, 829.
The other bonds guaranteed are $11,000,000 Baltimore & Ohio South
Western first mortgage 4*2 per cents; $2,500,000 Staten Island Rapid
Transit second mortgage 5s; $147,250 Winchester & Potomac first
mortgage 6s; also $4,000,000 5s (guaranteed as to interest) of the
West Virginia & Pittsburg RR., which see; and $2,240,000 bonds of
the Columbus & Cincinnati Midland.
O p e r a t i o n s , F i n a n c e s , &c.—After having paid dividends for many
years the company passed the November, 1887, and subsequent divi­
dends on common stock.
From October 1,1890, to April 30, 1891, (7 month) s, gross earnings
o f all lines were $13,600,098, against $13,975,086 in 1889-90; net,
$3,943,301, against $4,284,720.
Fiscal year ends September 30. Annual report for 1889-90 was in
C h r o n i c l e Y . 5 1 , p. 7 1 2 , 7 1 6 ; see also p. 6 9 4 .
EARNINGS AND EXPENSES.

1889-90.
1887-88.
1888-89.
Earnings from —
$
$
$
Freight.............................................. 14,309,773 14,669,446 16,991,647
Passengers........................................ 4,262,339
5,614,251
4,913,838
Mail, express and miscellaneous.. 1,781,379
1,719,717
1,806,198
Total earnings............................ 20,353,491 21,303,001 24,412,096
Operating expenses......................... 14,200,561 14,810,844 16,966,870
Net earnings.....................................

6,152,930

6,492,158

7,445,226

INCOME ACCOUNT.

1887-88.

1888-89.

6,152,930
1,206,960

6,492,157
1,265,861

1889-90.
$
7,445,226
1,509,837

Total............................................ 7,359,891
Deduct—
Net earnings Washington Branch.
304,419
Fixed charges.................................. 6,246,553
300,000
Di»s. on 1st & 2dpref. st’k (6 p. 0.)

7,758,018

8,955,063

357,651
6,208,562
300,000

376,172
6,417,599
300,000

T ota l........................................... 6,850,972
Surplus..............................................
508,919
Dednct payments to retire bonds..
384,487

6,866,213
891,805
372,487

7,093,771
1,861,292
481,058

N et earnings from operations.......
Add income from other sources...

Leaving a balance o f................
124,431
519,318
1,380,234
^-Earnings, 1888-89.-% ^-Earnings, 1889-90.-%
Gross.
Net.
Gross.
Net.
Main Stem, &c............... 10,452,472 3,801,107 11,950,505 4,143,708
Washington Branch......
457,709
357,651
502,594
376,172
Parkersburg Branch_
_
707,562
163,784
773,191
157,780
Central Ohio Division...
1,255,751 280,138
1,408,214
309,809
Lake Erie Division........ 1,177,519
283,178
1,211,170
271,397
Chicago Division........... 2,227,531
376,216
2,603,445
385,258
Pittsburg Division........ 2,731,174
909,594
3,069,055 1,123,626
Wheeling & Pitts. D iv.. 645,630 def. 49,138
755,790
125,287
Philadelphia Division...
1,361,501 332,471
1,696,841
450,234
New’k Somerset & St’le.
226,150
37,156
178.584
16,124
Col. & Cincin. Midland.........................................
262,708
85,831
T ota l........................ 21,303,002 6,492,158 24,412,096 7,445,226
— (V. 50, p. 70,139, 351, 482, 559, 734, 800, 833, 874, 903; V. 51, p.
171, 239, 344, 405, 483, 537, 6 9 4 , 7 1 2, 714, 7 1 6 ; V. 52, p. 238, 462,
796.)
'
B altim o re & Ohio Southw estern—("¿feeMap o f Baltimore & Ohio).
—Cincinnati, O., to Belpre, O., 193 m iles; branches—Marietta to Belpre,
11 m iles; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro,
(22 miles; total, 281 miles.
The Cincinnati Washington & Baltimore was sold in foreclosure Sept.
19,1889, and reorganized under present title by plan in V. 49, p. 82.
The new first mortgage bonds carry the endorsed guarantee of Balti­
more & Ohio as to both principal and interest. The Farmers’ Loan &
Trust Company is mortgage trustee. See abstracts of the first mortgage
and of the income mortgages in V. 51, p. 245, 246. Stock is—Common,
$2,500,000, all held by Baltimore & Ohio; preferred, $2,500,000; par.
$ 100 .

*

'

From July 1, 1890, to March 31, 1891 (9 months), gross earnings
were $1,779,101, against $1,773,744 in 1889-90; net, $625,349, against
$625,491«




Q --J . N.Y., Gr’nd Cent. Depot
do
do
J. & J.
J. & J. N. Y., Farmers’ L. & Tr.
do
do
J. & J.
J. & D. Philadelphia, Pa. RR.
J. & J. Treasurer, Trenton, N. J.
Various Philadelphia, Pa. RR.
M. & N. N. Y., Union Trust Co.
Q .-J . Stockbridge, Treasurer.
J. & J. New York and London.
A. & O.
Boston, Office.
Q .-M .
do
F. & A.
do
J. & J.
do
A. & O.
Boston, at Office.
J. & J.
do
do
Various
do
do
J. & J.
do
do
J. < J.
fc
do
do
M. & N.
do
do
Various
do
do
A. & 0.
do
do
A. & O.
F. & A. Nashua, Co.’s Office.
do
do
J. & J.
Boston, at Office.
M. & N.
do
do
M. & S.
do
do
J. & J.
F. & A.
do
do
do
do
F. & A.

Jan. 1, 1891
July 1, 1936
July 1, 1899
Jan. 1, 1940
June 1, 1902
Jan. 1, 1916
Sept., 1925-27
Nov. 1, 1897
Apr. 1, 1891
Jan. 1, 1927
Oct. 1, 1929
Mch. 31,1891
Feb. 1, 1892
July 1, 1895
A p r. 1, 1902
Jan. 2, 1891
Apr. ,1892&’95
July 1, 1896
July 1, 1899
May 1, 1903
1905-6-7-9
O ct 1, 1897
Oct. 1, 1898
Aug. 1, 1893
July 1, 1900
May 15, 1891
Mch. 1, 1891
Jan.,1893&’94
Feb.,1905&’07
Feb. 1, 1937

For the calendar years 1889 and 1890 the earnings were as shown in
the following table:
1889.
1890.
Gross earnings................................................... 2,177,957
Operating expenses.......................... ................... 1,499,648
Net earnings...................................................
Taxes and assessments.......................................

678,309
53,788

2,329,445
1,517,793
811,652
54,000

Balance............................................................ 624,521
757,652
After paying taxes and fixed charges there was applicable to the
payment of interest on the first preferred income bonds for the year
1890 4 per cent (being $20,060), and the same was declared, payable
on the 25th day of March, 1891.—(V. 49, p. 82, 235, 372, 5 80,856;
V. 50, p. 138, 632; V; 51,:p. 245; V. 52, p. 320.)
B altim ore & P o to m a c .—Owns from Baltimore, Md., to South End
Long Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49 miles:
total, 92 miles—including tunnel in City of Baltimore; leases branch 4
miles; total operated 96 miles. Controlled by the Pennsylvania RR. Co.,
and first mortgage bonds guaranteed by Pennsylvania and Northern Cen­
tral. Stock, $4,914,250 (par $50), of which Pennsylvania RR. owns $4,081,100 and Northern Central $622,850. Consols for $3,000,000 are held
by Pennsylvania RR. Co. Sufficient consols are reserved to retire all the
prior bonds as they mature. In 1890, gross, $1,708,369; net, $462,849;
surplus over fixed charges, $33,107, against $19,811 in 1889.
From January 1 to April 30, 1891 (4 months), gross earnings were
$541,344, against $531,870 in 1890; net, $142,3? 6, against $117,664.
B e e c h C r e e k .—Jersey Shore, Pa., to Gazzam, 104 miles; branches
to Philipburg, to mines, &c., 27 miles; total, 131 miles; trackage to
Williamsport, 16 miles. Successor to the Beech Creek Clearfield &
Southwestern, reorganized in 1886. From October 1,1890, leased to
the N. Y. Central & Hudson River RR. for 999 years at 4 per cent
on company’s bonds and stock, the bonds being indorsed with the Cen­
tral’s guaranty of principal and interest. See V. 52, p. 570. Dividends
on preferred stock from 1886 to 1888, inclusive, 5 per cent per annum;
in 1889, 2 in January, 1890, 5 per cent; in 1891 stock was all made
common, and on this dividends of 4 per cent are guaranteed. See V.
p. 52, 570. There are $150,000 of 5 per cent car trust certificates of
1887, due $37,500 yearly, and $370,000 of 5 per cent equipment trust
certificates of 1890, due $37,000 yearly June 1,1891 to 1900. Both
issues are guaranteed principal and interest by the lessee. The $825,000 bonds which are to be issued by the Clearfield Bituminous Coal
Company,when reorganized, will be guaranteed by the Beech Creek, and
interest upon them will be payable as rental by the N. Y. Central. In
1889 gross earnings were $800,142; net, $255,523; surplus over fixed
charges, $10,986, against $126,223 in 1888. (V. 50, p. 275; V. 51, p.
829; V. 52, p. 80, 238, 321, 498, 570.)
B ellaire Zan esville & C in cin n ati.—Owns Bellaire, O., to B. &
O. Junction, 102 miles; trackage B. & O., 1 mile; leases Muskingum
County RR. to Zanesville, 9 miles; total operated, 112 miles. Placed in
receiver’ s hands in July, 1886, and reorganized in 1889. Stock is: Com­
mon $832,000; preferred $795,910; par $50. In year ending June 30,
1889, gross earnings were $101,613; net (over taxes), $23,062.
Belvidere D ela w a re .—Owns from Trenton, N. J., to Manunka
Chunk, N. J., 67 miles; FlemingtonRR.,&c., 14 miles; operated cut-off, 1
mile; total operated, 82 miles. Leased to United Companies, and trans­
ferred to Penn. RR. March 7,1876. Net earnings paid as rental. Penn.
RR., Dee. 31,1890, owned all of the 7 per cents. The first mortgage
(convertible into stock) and new 4 per cent bonds are guaranteed by the
United Companies. In 1890, net, $369,437; surplus over fixed charges,
$105,253. Dividends of 6 per cent are paid. Stock, $1,150,000 (par
$50), all held by Penn. RR. Co.
B en n in g to n & R u t la n d .—Owns from Rutland to Bennington,
Vt., 5 7 miles; branch, North Bennington to New York State Line, 2
m iles; total, 59 miles. Stock, $1,000,000 (par $50). Gross earnings in
1889 were $216,625; net, $50,084; surplus over interest, $16,834.
In 1889 gross $241,684; net, $58,585.
B e rk sh ire .—Owns from Connecticut State Line to West Stock
bridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
Company at 7 per cent on capital stock, $600,000. Lessors pay taxes,
&c., and hence the quarterly dividend due in October is usually omitted.
B irm in g h a m Sheffield & Tennessee R i v e r .— Sheffield to
Jasper, Ala., and branches, 92 miles; to be extended 15 miles to a con­
nection with Georgia Pacific. Stock is $2,800,000. In September, 1887,
Sheffield & Birmingham RR. was consolidated with the Alabama & Ten­
nessee Coal & Iron Co. In January, 1889, receiver appointed, and in
April, 1889, the railroad property was sold to the Birmingham Sheffield
& Tennessee River, and the Coal & Iron properties reorganized separ­
ately. From January 1 to March 31,1891 (3 months), gross earnings,
were $42,097, against $49,090 in 1890; net, $13,536, against $18,046.
In year 1890 gross earnings were $192,605; net, $54,817. President
A. Parrish, Philadelphia, Pa. (V. 48, p. 128, 527.)
B o s t o n & A lb a n y .—Owns from Boston, Mass., to Albany, N. Y.,
202 miles; numerous branches, 104 miles; leased lines, 83 miles; total
operated, 389 miles. The Boston & Albany was formed (December,
1867) by the consolidation of the Boston & Worcester and the Western
railroads. In 1889 obtained permission from the Legislature to issue

May , 1891.]

RAILROAD

STOCKS

AN D

17

BONDS.

m
Subscribers w i l l con fer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these T a bles.
RAILROADS.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
cent. Payable
Whom.
Dividend.
Boston d Maine—(Concluded.)—
k
Essex RR. 1st mort. (exten. for 5 years in 1886)..c
20 1851 $100&c.
Eastern RR. certs.of indebt.lst M.,g.,s.f.,not drn.c 119 1876 $ & £
Portsmouth Great Falls & Conway 1st mort_ c
_
73 1877 5Ò0 &c.
Boston d N. Y.A ir-Line—St’k,pref. (gu.N.Y.N.H.&H.)
k
54
100
1st mortgage......................................................... c*
50 1880
1,000
Boston < Prov.—Stock, 10p. c. guar. 99 yrs., Old Col.
£
68
100
Bonds to purchase branches,coupon or registered
1873
1,000
Funding bonds, not mortgage, sink, fund 1890..c*
1888
1,000
Boston Revere Beach d Lynn—Stock..........................
k
100
1st mortgage............................................................c
1877
1,000
Boston Winthrop & Shore 1st mortgage, guar .
8 1886
Bradford! Bordell d Kinzua—1st mortgage........... c
k
41 1882
500
Bradford Eldred d Cuba—1st mortgage...................
k
4 1881
1,000
Brooklyn Elevated—lstm ort., g., s. f., not drawn, .c*
6-9 1884
1,000
2d mortgage, gold, sinking fund, not drawn___c*
6-9 1885
1,000
Union Elev., 1st M.,$550,000 p. in., g..................c* 10-5 1887
1,000
2d M., inc., non-cum., $185,000per mile, gold.c* 10-5 1887
1,000
Buff. Brad. d Pitts.—Gen. M. (10,000 acres land) . .r
k
26 1865
1,000
Buff. N. Y. d Erie—Stock (7 p. c. rent. N. Y. L. E.&W.) 142
k
100
1st mortgage.......................................................... c* 142 1876
1,000
Buffalo Rochester d Pittsburg—
k
K. & P. 1st M., Rochester to Salamanca, 108 m.c* 108 1881
1,000
R. & P. consol, mortgage, $20,000 per mile, g. .0* All 1882
1,000
1st general mortgage gold ($10,000,000)..........c*
All 1887
1,000
R. & P., Equipment b’ds (cartrust) in 5 series.c*
VaNs
1,000
Lincoln Park&Cliarl. 1st M.for $350,000 gu. g.c*
Ï Ï 1889
1,000
Buffalo d Southw.—1st M.g.int.gu.byN.Y.L.E.&W.c*
k
67 1877 50 &c.
Burlington Cedar Rapids d Northern—1st mortgage 369 1876 ¡100 &c.
k
Iowa City & West., 1st M., red. at 105, guar.......c
73 1879
1,000
Ced. Rap. I. F. &N. W., IstM. g., guar., red. at 105 408 1880
1,000
$10,000,000 additional stock, $7,000,000'being for bonds dne in 1892
and 1895 and the remainder for improvements. Stockholders of Sep­
tember 24, 1890, had the right until January 5,1891, of subscribing
to $5,000,000 stock, payment for which is to be made as follows: $10 on
January 5,1891, and $30 on January 5,1892, when the new certifi­
cates will be issued. Due improvement fund January 1, 1891, $1,180,105.
Cash dividends at the rate of 8 per cent yearly have been paid for
many years. Stock dividend of 10 per cent was paid in 1883 and of 3*3
per cent in 1886.
Prom July 1, 1890, to March 31, 1891 (9 months), gross earnings
were $6,865,443, against $6,854,052 in 1889-90; net, $2,282,817, against
$2,325,998; surplus over charges, $1,140,435, against $1,190,553.
fisca l year ends now June 30, and report in V. 51, p. 273, showed the
following:
INCOME ACCOUNT FOR TEARS ENDING JUNE 3 0 .

1887-88.
$
Gross earnings.............. .......... 8,953,105
Operating expenses and taxes. 6,553,444
Net earnings............
Deduct—
Interest paid..................
Rentals...........................
Dividends (8 per cent)..

....... 2,399,661

1888-89.
9,012,325
5,975,607

4^2
6 g4*2
2
5
2^
7
4
3^
6
5
6
6
6 g.
5 g.
6 g5
7
3I2
7

M. & S.
M. & S.
J. & D.
A. & O.
F. & A.
Q .-J .
J. & J.
J. & J.
J. & J.
J. & J.
M. & S.
J. & D.
J. & J.
A. & O.
J. & J.
M. & N.
J. & J.
J. & J.
J. & D.
J. & D.

Boston, at Office.
Bost.,Mav’ck B’k & Lon.
Bos. .BlackstoneN at. Bk.
N. H., N. Y. N. H. & H. Co.
N. Y., Lincoln Nat. Bank
Boston, at Office.
do
do
do
do
Boston.
Boston, Office.
Boston, by guarantors.
Last coup, paid June.’ 84
Last paid July, 1884.
N. Y. Cent. Trust Co.
do
do
do
do
do
do
N. Y. L. Erie & W. RR.
N. Y. L. Erie & W. RR.
do
do

Sept. 15,1891
Sept. 1, 190®
June 1, 1937
April, 1891
Aug. 1, 1905
April 1, 1891
July 1, 1893
July 1, 1918
Jan. 1, 1891
July 15,1897
Sept. 1, 190®
June 1, 1932
Jan. 1, 1932
Oct. 1, 1924
July 1, 1915
May 1, 1937
Jan. 1, 1927
Jan. i ; 1896
Dec. 1, 1890
June 1, 1916

1,300,000
6 g.
3,920,000
6 g.
2,421,000
5 g.
483,000 5 ,6 & 7
350,000
5 g.
1,500,000
6 g.
5
6,500,000
7 g.
584,000
825,000
6 g.

F. & A.
J. & D.
M. & S.
Various
J. & J.
J. & J.
J. & D.
M. & S.
A. & O.

N. Y., Union Trust Co.
do
do
do
do
N. Y., Gallatin Bank.
N. Y., Union Trust Co.
N. Y., First Nat. Bank.
N. Y., Central Trust Co.
do
do
do
do

Feb. 1, 1921
Dec. 1, 1922
Sept. 1, 1937
Various.
Jan., 1939
July 1, 1908
June 1, 1906
Sept 1, 1900
Oct. 1, 1920

$194,400
9,209,520
1,000,000
2,998,000
500,000
4,000,000
500,000
1,600,000
750,000
350,000
289,000
498,000
500,000
3,500,000
1,250,000
5,750,000
2,068,000
580,000
950,000
2,380,000

Prom Oct. 1, 1890, to March 31,1891 (6 months), gross earnings
were $6,964,578, against $6,737,494 in 1889; net, $2,118,510, against
$2,099,352; surplus over eharges, $417,750 against $309,003.
Report for year ending September 30,1890, was in Chronicle, V. 51
p. 786. Earnings and expenses below are for the whole system.
EARNINGS AND EXPENSES.

1887-88.
Miles operated............................
1,209
Earnings----$
Passenger.................................... 6,489,565
Freight.............. .....................•... 5,700,569
Mail, express, &c............. .........
534,385

1888-89.
1,210
$
6,885,048
6,203,431
573,329

1889-90
1,210
$
7,347,201
7,118,583
625,907

Total gross earnings..................12,724,519
Operating expenses and taxes.. 9,241,762

13,661,808
9,479,465

15,091,691
10,567,213

Net earnings....................... 3,482,757

4,182,342

4,524,478

1889-90.
$
9,151,069
6,276,777

INCOME ACCOUNT,

1887-88.
$

1888-89.
$

2,874,292 Totalnet, inolud’g other income 3,869,036
4,579,667
4,963,978
Deduct—
..........
662,900
662,900
662,900 Rentals....................................... 2,862,902
2,933,517
2,576,381
........
78,000
78,000
78,000 Interest on bonds.......................
356,941
324,378
580,544
........ 1,600,000
1,600,000
1,600,000 Other interest......................
109,853
51,486
150,757
37,095
Sinking funds.............................
11,779
100,000
Total......................... .......... 2,340,900
2,340,900
2,340,900 Dividends...............*
630,000
1,042,211
....................
630,000
9 per cent 9*2 com.; 3 pf.
Balance, surplus............ ..........
58,761
695,818
533,392 Rate of dividends....................... 9 per cent
436,000
* *
—(V. 50, p. 245; V. 51, p. 84, 206, 2 7 3 , 416, 457, 681; V. 52, p. 322, Eastern RR. proportion.
718.)
Total...................................... 3,880,545
4,503,406
4,449,893
B o s to n Sc L o w e l l . —Owns from Boston to Lowell, 27 miles; Balance....................................... Def.11,509
Sur. 76,261 Sur. 514,085
branches—Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles;
others, 32 miles; Middlesex Central, 11 miles; leases—Manchester &
** Eastern Railroad is now owned by Boston < Maine.
fe
Keene HR., 29 miles; Central Massachusetts, 104 miles; Connecticut —(V. 49, p .2 1 ,5 1 , 269, 4 0 1 , 579, 760, 822; V. 50, p.2 7 6 ,3 13 ,5 5 9 ,
6 Passumpsic, 147 miles; total leased, 280 miles; total owned and 589, 702, 741; V. 51, p. 276, 7 8 6 ; Y. 52, p. 164, 321, 349, 795.)
leased, 369 miles. The St. Johnsbury & Lake Champlain RR. was
B o sto n & N ew Y o r k A ir L in e .—Owns from New Haven, Conn.,
leased, but a suit concerning the lease is pending, and the road is now
to WHlimantic, Conn., 50 miles; leases Turnerville to Colchester, 4
operated by its owners.
The Connecticut & Passumpsic RR. is leased for 99 years from Janu­ m iles; total operated, 54 miles. Formerly the New Haven Middletown
ary 1,1887. A lease of the Boston & Lowell and all its branches to the & Willimantic. A lease was made in October, 1882, to the New York
Boston & Maine for 99 years was effected in 1887 at 7 per cent on stock New Haven & Hartford Railroad for 99 years at 4 per cent dividends
per year on the preferred stock and interest on the bonds. Common
till January, 1897, and 8 per cent thereafter.
Bonds for $1,000,000, due April, 1932, with interest at not exceeding stock authorized $1,000,000; outstanding $838,000; par, $100.
7 per cent, have been authorized to retire $1,000,000 bonds falling due
B o sto n Sc P rovidence.—Owns from Boston, Mass., to Providence,
April 1,1892. It is proposed to issue $1,000,000 stock.
Dividends since 1880—In 1881 and 1882, 4 per cen t; in 1883, 5 ; in R. I., 44 m iles; branches, 20 m iles; leases, Attleborough to North Attle­
borough, 4 miles; total operated, 68 miles. Leased for 99 years from
1884, 5*2; iu 1885 and 1886, 6 ; in 1887,
; in 1888 and since at rate April 1,1888, to Old Colony RR. at 10 per cent yearly on stock and a
of 7 per cent yearly.
$1,300,000 cash, out of which an
Fiscal year ends September 30. No report issued since 1886. In bonus ofstock May 2,1888.—(V. 46, p. 480;extra dividend of $32 50 was
V. 49, p. 718.)
1887-88 net earnings were $1,058,797; fixed eharges, $669,708; bal­ paid on
B oston B evere B each Sc L y o n .—Owns narrow-gauge road
ance, $389.089 —(Y. 52, p. 84.)
from Lynn to East Boston, ' ass., 9 miles, connecting with Boston by
B o s to n Sc M a in e.—Owns Boston to Portland, Me., via Dover, N. company’s ferry boats. Guarantees principal and interest of the Boston
H., 115 m iles; Boston to New Hampshire State (Eastern Railroad), 41 Winthrop & Shore bonds, that road, extending from East Boston to
miles; Conway Junction, Me., to North Conway, N. H., 73 miles; Winthrop, 5 miles, with branches 3 miles. In year ending June 30,
branches to Lawrence, etc.. 87 miles; total owned. 316 miles. Leases- 1890, gross earnings were $299,582; net, $89,819; interest, $25,847;
New Hampshire State Line to Portland, Me., via Portsmouth, N. H. taxes, $12,804; dividends, $42,000; surplus, $9,168.
(Eastern Railroad in New Hampshire and Portsmouth Saco & Ports­
B radford B ord e ll Sc K ln z u a .—(3-foot guage)—Owns Bradford,
mouth), 67 miles; Boston to Sherbrooke, Canada (Boston & Lowell,
Simpson, Pa.,
City and Eldred, 14
Nashua & Lowell, Northern New Hampshire, Connecticut & Passumpsic Pa., to total owned, 2915 miles; branches to Rew Smethport, 10 miles
miles;
miles. Leases Simpson to
and Massawippi Valley railroads), 290 m iles; Worcester, Mass., to Ro­ total operated, 39 miles. Stock is $500,000; par, $100. In December,
chester, N. H. (Worcester Nashua & Rochester), 94 miles; North Cam­ 1884, default in interest was made, and
bridge Junction to Northampton, Mass. (Central Massachusetts), 99 Roberts was appointed receiver. See V.in January, 1891, George L.
52,
164. In year ending
m iles; branches, 344 miles; total leased, 894 m iles; total operated June 30,1890, gross earnings were $124,957;p.net, $44,761; interest,
Sept. 30,1890,1,210 miles. Por terms of leases see each company.
$29,880; rentals, etc., $27,879; deficit, $12,997.—(Y. 52, p. 164.)
In 1890 a consolidation was made with the Eastern RR. of Mass, and
B radford Eldred Sc C ob a .—Operates Eldred to Wellsville, N. Y .1
the Portsmouth Great Palls & Conway, on terms in V. 50, p. 589. No
increase was made in the combined stock of the three roads by the con­ 33 miles, of which 4 miles owned. Stock, $480,000 ; par, $100. There
solidation, for while each share of stock in the Boston & Maine Road are also 2d mortgage bonds for $60,000, 6s, which were due June 1
received $14 68 additional stock, each share of the Eastern and Ports­ 1885. Foreclosure suit begun in February, 1885. Reorganization in
mouth Great Falls & Conway common stock received but $83-28 of progress, securities being deposited with Continental Trust Co. of
Boston & Maine common. The Eastern preferred stock was exchanged New York. In year ending September 30, 1889, gross earnings were
for Boston & Maine preferred stock share for share. In May, 1891, $47,763 ; net, $7,282 ; deficit under charges, $26,919. Thos. C. Platt,
there was only about $19,500 stock of the absorbed companies out­ Receiver, 82 Broadway, New York.—(V. 46, p. 537 ; V. 51, p. 569.)
standing. Company owns $1,811,500 Maine Central stock.
B r o o k ly n E le v a t e d .—Owns from Fulton Ferry and Brooklyn
In February, 1891, the Maine Legislature authorized the company to Bridge via York Street, &c., to East New York, 6% miles; Broadway and
issue $5,000,000 stock to fund the floating debt and to pay for improve­ Lexington Avenue to Broadway Ferry, 2% miles, and Myrtle Avenue to
ments. This makes the total authorized stock $21,297,743. See V. 52, Adams Street and Brooklyn Bridge,
miles; branch to Greenwood, 3
p. 104, 349.
miles; total, 18 miles. In Oct., 1890, consolidated with the Union Elev.
Dividends on common stock since 1880:—In 1881 to 1885 inclusive, 8 The capital stock is $13,283,600 (par $100). If .net earnings suffice, a
per cent; in 1886, 9 ^ ; in 1887,10; in 1888 and 1889, 9; in 1890, May sinking fund of one per cent will purchase 2d mortgage bonds if obtain­
15, 4*2; November 15, 5 ; in 1891, May 15, 4»*.
able at 90 and first mortgage bonds at 105—no bonds drawn.
On preferred stock (formerly Eastern preferred) 6 per cent yearly has
The Union Elevated first mortgage is for $7,000,000; the second for
been paid since 1887.
2,500,000; trustee of both, Central Trust Company. See abstracts in
In December, 1890, it was voted to guarantee certain bonds of the
'. 49, p. 583. Application in full to New York Stock Exchange was in
St. Johnsbury & Lake Champlain Railroad.
Chronicle , V. 48, p. 129. See also V. 49, p. 471.
There were outstanding September 30, 1890, $2,550,000 notes and
From July 1,1890, to March 31,1891 (9 months), gross earnings were
$594,800 Charleston land mortgage notes. There are also $81,000 $1,285,739, against $1,130,006 in 1889-90; net, $547,166, against $452,Eastern
per cent debentures, due September 1,1906.
126; surplus over eharges was $91,290, against $54,717 in 1889-90.




3,036,718

f

18




INYESTOftS’

SUPPLEMENT.

[Y ol.

lh .

Ma t ,

1891.]

RAILKOAD

STOCKS

ANT)

19

BONDS.

Subscribers w i l l confer a great fa v or by giv in g Im m ediate notice o f an y error discovered in these T a bles.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS._________________ Mile8 Date Size, or
pal,When Due*
Amount Rate per When Where Payable, and by Stocks—Last
of
Par Outstanding
For explanation of column headings, &c., see notes, of
Dividend.
Cent. Payable
Whom.
on first page of tables.
|ROad. Bonds Value.

Burlington Cedar Rapids < Northern—( Concluded.),
6
Ced. Rap. I. F. & N. W., 1st mortgage, gold, gu.c 408
Consol. IstM . & coUat. trust, g., $15,000p.m.c*&r, All
12
Minneapolis & St. Louis, 1st mortgage (assumed);
114
California Pacific—1st mort., gold (ext’ d in 1887
2d M., gold, endorsed by Cen. Pac., exten. in 1891) 114
3d mort., g., guar.by Cent. Pac. ($1,000,000 are 3s); 114
60
Cambria < Clearfield.—1st M. for $2,000,000 g. .c*
£
79
Camden & Atlantic—Stock ($880,200 of it pref.)....
79
1st mortgage (extended 20 years in 1873)........ o*
79
2d mortgage...................... - - - .................... -■--•••c .
79
Consol, mort. ($150,000 are 5sreg., int. at office) c
31
Camden < Burlington Co.—1st mortgage..............c
&
142
Canada Atlantic—1st mortgage, gold.................... c
436
Canada Southern—Stock...................................... —
1st mort., interest guar, by N. Y. C. & Hud. R iv.c 404
404
2d mortgage............................--.........
Canadian Pacific—Stock (guar. 3 p. c. div. till 93).
Can. Cent. RR. 1st and2dm orts.,lstM .s.f.,dr.atl05
Quebec Prov. due on Q. M. O. & O. and N. S. RR.
Can. Pacific, land mort, gold (redeem at 110) —
2,856
1st mortgage debenture sterling..............
1st mort. on Algoma Branch, £750,000... .c &r 183
Ld. gr. bds, not dr’n, int. gu. by Can. Gov’t, c <
fcr
Consolidated perpetual debenture stock............|
Manitoba S. W. Col. R’y $12,000 p. m., int. guar.g 213
Atlantic & Northwest—1st mort. gold, guar. .c*&r 325
North Shore Railway—1st mortgage........ ............
54
St. Lawrence & Ottawa—1st mortgage..................

$1,905,000
5 g5.313.000
5 g.
7 g.
150.000
2.232.000
41
ag.
1.600.000
2.998.000 3 g. & 6 g.
750.000
pref.
1,258,100 3 on 5 «k
490;000
7 g.
6
497.000
>& 6
500.000
6
350.000
3.450.000
5 g.
15.000.
000 1 ^
5
13,923,600
5
5.100.000
65.000.
000 2*2
* & 6
1,823,333
5
7,000,000
3,438,500
5 g.
34,998,633
5 g3.650.000
5 g15.000. 000
3^.
4
£2,483,375
$2,544,000
5 g.
£1,330,000
I 6'
£99,600
(6) 4
£ 200,000
£50 &c

1881 I $1,000
1884 l,OO0&c
1877 500 &c.
1,000
1867
1,000
1871
500
1875
1,000
1891
50
1,000
1853
1,000
1879
1,000
1881
1867 500 &C.
1,000
1889
100
1,000
1878
1883 l,000&c
100
£100 &c
82-’83
1881 50Ó Ac.
1885 £100 &C
1888 £100 &C
1888 £100 &C
1889
1884
1,000
1887 £100 &c
1876

For year ending June 30,1890, gross earnings were $1,567,511; net,
$632,740 ; surplus over charges, $95,940, agamst deficit of $21,348 m
1888-89 Henrv W. Putnam, President. (V. 49, p. 269, 471, 690, 857,
V 50, pi 138 245,707 ;V .5 1 , p. 207, 608, 715 ; V. 52, p. 80, 280, 762.)
B u ffalo B ra d fo rd Sc P ittsb u rg .—Owns from Carrollton, N .Y .,
to Gilesville, Pa., 26 miles. Completed m 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out­
standing bonds, $40,600 a year. Capital stock, $2,286,400; par $100.
B u ffalo N ew Y o r k Sc E rie .—Owns from Buffalo, N .Y ., to Cor­
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for 490
years, and now operated by the New York Lake Erie & Western Com­
pany. Rental, $238,100—viz., 7 per cent on stock and bonds and
$5,000 for organization expenses. Dividends and interest paid directly
liy the lessees.
B u f f a l o R o c h e s t e r Sc P i t t s b u r g R a i l w a y .—( See Map.)—
Owns
Rochester, N. Y., and Buffalo, N. Y., to Walston, Pa. (except 40 miles of
trackage mentioned below and here deducted), 215 m iles; branches to
mines. 12 miles. Proprietary roads ow ned: Lincoln Park & Charlotte
Railroad, 11 m iles; Brockwayville & Punxsutawney Railroad, 25 m iles;
Perry RR., 1 mile. Trackage—New York Lake Erie & Western, Howard
Junction, Pa., to Clarion Junction, Pa., 36 miles; Buffalo Creek Rail­
road, 4 m iles; total operated, 304 miles.
This company was formed in March, 1887, as successor of the Kochester & Pittsburg and the Pittsburg & State Line railroads, which were
foreclosed in October, 1885. In April, 1890, a controlling interest in
the stock was purchased by a Buffalo syndicate, headed by the Bell,
Lewis & Yates Coal Mining Company, which company guarantees to
ship over the road for the next five years not less than 500,000 tons of
coal annually. The Rochester & Pittsburg Coal & Iron Company also is
to ship over it not less than 750,000 tons yearly. See V. 50, p. 560, 589.
The preferred stock is $6,000,000 (entitled to 6 per cent dividends,
non-cumulative), and common stock, $6,000,000; par $100.
Of the general mortgage (trustee Union Trust Company of New York)
for $10,000,000, there are $6,000,000 reserved for prior bonds. There
are also $16,000 incomes, due in 1921, mortgages on real estate for
$298,500, due in 1895, and $20,000 Perry RR. guaranteed 7s due 1902.
From July 1,1890, to March 31,1891 (9 months), gross earnings were
$1,816,603, against $1,417,267 in 1889-90; net, $462,180, against
$463,631; deficit after payment of charges was $50,073, against $13,

A. & O N. Y., Central Trust Co.
do
do
A. & O
do
do
J. & D.
& J. N.Y., S.Pae.Co., 23 Br*d.
do
do
& J
do
do
J. & J
J. & J Phila., Of., 233 S. 4th St.
do
do
J. & J Phila., Farm. & M. B’k.
do
do
A. & O
do
do
J. & J
F. & A. Phila., Penn. RR. Co.
New York City.
J. & J.
F. & A. N. Y., Gr’d Cent. Depot.
J. & J. N. Y., Union Trust Co.
do
do
M. & S. I
F. & A. N. Y., 59 Wall St. & Lon.
Montreal,
Various
do
A. & O.
A. & O. Montreal, N. Y. or Lond’n
J. & J. London, Baring B. & Co.
do
do
J. & J.
do
do
J. & J.
London, Comp’ys office.
J. & J.
J. & J. N. Y., 59 WaH & London
J. & J. London, Baring B. & Co
do
do
London.
15J.&D.

Oct. 1, 1921
Apr. 1, 1934
June 1, 1927
Jan. 1, 1912
Jan. 1, 1911
July 1, 1905
Jan. 1, 1941
Dec. 9, 1889
Dec. 31,1892
Oct. 1, 1899
July 11,1911
Feb. 1, 1897
Jan. 5, 1909
Feb. 2, 1891
Jan. 1, 1908
Mch. 1, 1913
Feb. 17,1891
1899 & 1910
1902 & 1904
Oct. 1, 1931
July 1, 1915
July 1, 1937
July 1, 1938
Irredeemable
June 1, 1934
Jan. 1, 1937
Apr. 20,1904
June 15,1910

The Central Trust Company is trustee of the consolidated mortgage,
which will retire all prior and divisional bonds. Stock outstanding is
$5,500,000; authorized issue, $30,000,000; par $100.
From January 1 to March 31 in 1891 (3 months) gross earnings were
$823,156, against $759,041 in 1890; net $261,188, against $256,723.
In year ending June 30,1890, surplus over all charges was $60,786.
Annnai report in V. 52, p. 640, gave net income, &c., as follows :
INCOME ACCOUNT.

1887.
Receipts—
$
Gross earnings.......... 3,005,962
Net earnings........
780,057
95,789
Other receipts..........
Total income....... 875,846
Disbursements—
Interest on debt.. . . . . 767,127
Const’n,equip., & c..,. 140,067

2,848,076
771,447
61,282

2,986,543
808,609
96,308

1890.
$
3,303,982
816,147
105,256

832,729

904,917

921,403

771,130
247,669

771,130
154,126

775,479
150,314
_________

1888.
$

1889.
$

Tot. disbursem’ts 907,194
1,018,799
925,258
925,793
def.4,390
Balance........ \..........def.31,348 d ef.186,070 def.20,341
—(V. 48, p. 6 6 1 , 687; V. 50, p. 422, 7 0 2 ; V. 51, p. 275; V. 52, p. 6 40.)
C alifornia Pacific.—Owns from Vallejo, Cal., to Sacramento, Cal.,
60 miles; branches to Calistoga, &c., 55 miles; total, 115 miles. In
November, 1886, leased for 50 years to Southern Pacific Company.
Rental, $600,000 per annum and three-fourths of net earmngs when in
excess of that amount. Capital stock. $12,000,000; par, $100. In
1890 gross earnings, $1,364,372; net, $509,346 (against $484,694 m
1889); rental, $600,000 (deficit to lessee, including betterments, $109,697); paid interest, etc., $364,922; surplus to lessor, $235,077.—(V. 51,
p. 786, 910.)
C am bria Sc Clearfield.—Owns road completed, or under construe
tion, into the coal fields of Cambria, Clearfield and Indiana counties,
Pennsylvania. Stock paid in, $750,000, all owned by the Pennsylvania
RR. Co. The bonds are free o f all taxes imposed by the State of Penn­
sylvania or the United States.
Cam den Sc A tla n tic .—Owns Camden, N. J., to Atlantic City, and
branch, 62 miles; Atlantic City to Longport, 6 miles; Plulad.elphia Marlton & Medford Railroad—Haddonfleld to Medford, 12 miles; Chelsea
5 Mscal year ends June 30. In the following the figures for 1889-90
m ile;
miles; total
are for the year ending June 30; all others for years ending September 30- Branch RR.,is1entitled ferries, 2cent if earned,operated, 83 miles. Pre­
to 7 per
and to as high
Pai<^ to
1889-90 ferred stock
1887-88.
1888-89.
1886-87.
common if mor© than 7. Pennsylvania Railroad o'wns $234,100 com$
mon and $451,950 preferred stock, and there was due that company
.Receipts—
$
1,913,172
2,021,591
2,001,156
Gross earnings.......... 1,916,361
674,697 JSDivffiends’ since’ 1880: On common, in 1882, 3 per cent, and none
^
574,826
447,671
Net earnings............. 516,975
45,974 since; on preferred, in 1881, 3*2 in scrip; m 1882, 4; in 1884, 7; in 1887,
15,969
30,934
Other income---- —
77,759
5; in 1888, 2*a; in 1889, 3; none since. '
-£
From January 1 to March 31,1891 (3 months), gross earnings on
478,605
590,795
720,671
Total receipts— -594,734
main line and branches were $121,378, agamst $113,910 in 1890; de­
Deduct—
.
, ... .
488,650 ficit, $19,243, against deficit of $21,170.
437,452
400,350
353,910
Interest on bonds—
On main line and branches in 1889 gross earamgs were $737,144, net,
700
4,992
14,818
5,910
Int. on floating debt.
144,125 $145,291; surplus over fixed charges, $39,035; dividends (3 per cent),
74,099
74,431
62,595
R en ta ls.:................ —
$26,403. In 1890 gross earnings, $799,491; net, f
£ interest,
489,599
516,543
633,475 $92,620; other charges, less credits, $25,959; surplus, $12,126.—(V. 50,
Tot. disbursem’ts 422,415
6 2 1 V.
5 6 9 .)
def.10,994 sur.74,252 sur.*87,196 p. C am;den 52, p. u rlin g to n C ou n ty.—Owns from Camden, N. J., to
Balance
- .sur.172,319
Sc B
Pemberton, N. J., 23 m iles; branch, Burlington, N. J., to Mount Hour,
* Of this amount $56,292 were spent for betterments, &c.
7 miles; total, 30 miles. Operated by the Pennsylvania Railroad.
President, Arthur G. Yates, Rochester, N .Y .
„
Lease rental,
stock and bonds,
—(V 48, p. 190, 2 2 0 , 222, 855; V. 49, p. 21, 207, 650; V. 50, p. 1 0 6 , $381,925; par$44,415, being 6 per cent oh and July. In 1890 stock,
$25. Dividends m January
gross,
207; V B , p 560, 589, 622; V. 51, p. 240, 645, 8 2 8 ; V. 52, p 239, 707.) $265,809; net, $76,745, against $67,658 in ’ 89; profit to lessee, $32,330.
o .
.
B u ffa lo Sc Sou th w estern .—Owns from Buffalo to Jamestown,
Canada A tla n tic .—Owns Ottawa, Canada, to Roirae’s Poin^ Vt.,
N Y 67 miles. In July, 1880, leased to the New York Lake Erie & 142 miles, with trackage over Central Vermont to St. Alpans, 24 mnes.
Western for 99 ye a rs-a t 35 .per cent of gross e a Ä ^ u t t a t e r a i ^ on Has traffic contract with the Canadian Pacific and Soo
bonds guaranteed. Rental m year ending June 30,1890, $138,334, in sion to Parry Sound projected. Trustee of mortgage is Farmers Loan
1888-89 $143,776. Stock—common, $471,833 (of which Alleghany
Valley RR owiis $235,916), and $471,833 of 7 per cent preferred; par, & Trust Company. The bridge across the St. Lawrence was completed
common, and $1,000,000 preferred.
$100
Common stock shares dividends after 7 on preferred. In Feb. 15,1890. Stock, $2,000,000 gross
In year ending June 30,1890,
net,
1888-89 and 1889-90 paid 8 per cent on preferred and 1 per cent on $225,146. In 1888-89 gross, $515,372 ; earnings were 9567,235, 493,)
net, $208,202. (V. 51, p.
common.
f
Canada Sou th ern .—L ine op R oad—Main line from Cantilever
B u rlin g to n Cedar R a p id s Sc N orth ern .—On January 1 , 1891» Bridge
branch,
to Essex
onerated from Burlington, Iowa, to Albert Lea, Minn, (including 11 Centre, to Windsor, Ont., 226 m iles;17 m iles;Amherstburg Branch, 3
16 m iles;
Branch,
Oil Springs
miles leased), 253 miles; branches—Linn, Iowa, to Postyme, Iowa, 94 miles; St. Thomas,Fort ErieCourtright, Ont., 63 miles; Erie & Niagara,
Ont., to
m iles; Muscatine, Iowa, to Riverside, Iowa, 31 m iles; Vinton, Iowa, to 31 miles; Sarnia Chatham & Erie, 7 ; Canada Southern .B rid ge* ferry,
Holland. Iowa, 48 m iles; Iowa City to What Cheer and Montezuma,
56, and Michigan
T3 m iles; Clinton Division, 81 miles; Decorah Division, 23 miles; Iowa 4 ; Toledo CanadaofSouthern & Detroit,436 miles, of whichMidland &
all lines operated,
Iff 5 miles
Falls Division, 430 m iles; Waverly Division, 6 m iles; Forest Division, Canada, 15; total
7 m iles; total owned, 402 miles; total operated, 1,046 miles. This are nominally owned by proprietary compames under separate orgam
com pany has a perpetual lease of those lines (included above) built by ZaTh<f'Canada Southern Railway Company was chartered in Canada
the Iowa City & Western, the Cedar Rapids Iowa Falls & North West­
of
ern the Cedar Rapids & Clinton and the Chicago Decorah & Minnesota. February 28,1868, and debt readjusted by Act theParlmment m 1878.
on
mortgage is guaranteed by
New York Centrai
Successor to the Burlington Cedar Rapids & Minnesota, foreclosed Interest till the 1stbut the principal is not guaranteed.^ In November,
RR. Co.,
1898;
1882, a close contract was made with the Michigan Central for 21 year
JT iw a2 C it iJ W e s t e r n bonds are guaranteed as to interest and are from January 1,1883, providing for the payment to Canada Southern
subiect to call at 105. Bonds of the Cedar Rapids Iowa Falls &Northwest­ of one-third the joint income over all fixed charges, but Miclngan Cen
ern Road are endorsed (endorsement is on the bonds); the 6 per cent
bonds are subject to call at 105. Of the 5 per cents $825,000 are reserved tral, by reduction of its interest charges, now receives more than two4 » retire the 6 per cents. The company guarantees the above bonds. 1thirds.




INVESTORS*
SUPPLEMENT.
[T o l . U J




Ma y ,

RAILROAD

189t]

STOCKS AND

21

BONDS.

Subscribers w i ll con fer a great fa v o r by g iv in g im m ed iate notice o f any error discovered in these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,^When Due.
RAILROADS.
Miles Date Size, or
Amount
Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Canadian Pacific—( Concluded.)—
Ontario < Quebec stock guaranteed........ .—
fe
Ont. < Que. debentures, interest guaranteed...
fc
Toronto Grey < Bruce, 1st mortgage................
fc
Op. Fr. < Tad Val—1st M. ser. A, $10,000 p. m.c*&r
&
1st M., Ser, “ B,” $10,000 p.m. (2d on 233 m.)c**r
1st mort., series C, (2d mort. on 225 miles.).. c*&r
Cape Girardeau S. W.—Con. M. for $1,000,000 gold
Arkansas Extension, 1st mortgage................ o*<fer
Carolina Cent—1 s tM. (Wilm.toSlielby,2 4 0 m .).0*
2d and 3d mortgages, gold, income, non-cumul. .r
C arolina Ounib. Cap < Chic.—IstM ., gold.... .c**r
£
Carson <t Colorado—1st M., Ser. “ A,” “ B” and “ C. ’ .
Carthage < Adirondack—1st mort. for $800,000...
k
2d mortgage for $ 8 0 0,0 0 0 .............. .
Catawissa—Pref. stock, 7 per cent. guar. P. & R —
- .*
•:
Mortgage bonds............. ..................... • ** v;* • *•
1st mortgage, assumed by Philadelplua «» Read..
Cayuga < Susa.—Stock, 9 p. c. rental D. L. <fcW. . . .
&
Cedar Falls < Minn.—Bonds on 2d div. sink, fund.c
6
Cent. Br. X . P.—1st M. Atch. < P. P. RR. g-, gold, .c
T
&
Fundint. (mort.) bds. (coup, held in trust) gold.o
2d mortgage (Government subsidy) . . . . . . . . . . . . . . .
Central Massachusetts—1st M., int. gu. by B. & L.c
Cent. New England «6 Western—1st mortgage, g ..c ’
General mortgage for $5,000,000, gold .... — .o'
Central Ohio—Stock ($411,550 of this is preferred)
Consol. 1st mortgage (for $2,850,000) gold........ c
Central Pacino—Stock............................. .........
1st M.,ser. A to I, incl., gold (2 sink, fds) not dr’n
1st M. S. Joaq’n Val.Br., g.(s.f.$50,000)not drawn
U. S. Loan (2d lien on certain terms) gold.......

$100 $ 2,000,000 6 per an. J. «fe D. Montreal and London.
Various London, Morton, Rose.
5
£4,007,381
J. «fe J. Toronto and London.
4£719,000
¿Í0 0
190 1883
fe
fc
6 g. J. < D. N.Y., Farm. L. < Tr. Co.
150 1886 $ 1,000 $1,500,000
do
do
J. < D.
fc
734.000
1,000
75 1886
do
do
J. «fe D.
820.000
1,000
83 1886
&
M. «fe S. N. Y., Coffin < Stanton.
889.000
1,000
102 1888
do
do
J. < J.
fc
850.000
1,000
65 1890
J. «fe J. Phila., Mech. Nat. Bank.
2, 000,000
6 g.
1,000
240 1881
fc
2.700.000
6 g. J. < J.
1,000
240 1881
New York City.
1,000
6 g. M. «fe N.
25 1882
C
O
New York.
J. «fe J.
6
4.380.000
299 ’81-’ 88 1,000
M. «fe N. PhiLFidelitylns. «fee. Co
6
771.000
1883
do
do
P. < A.
fc
6
153.000
1889
3.200.000
50
3ia M. «fe N. Philadelphia Co.’s office
97
fe
P. < A. Phila., Phila. < Read. Co.
&
7
1.300.000
93 1870 500 «fee.
«10
do
P. «& A.
6
230,500
1882
589,110
413 J. «fe J. New York, 52 Wall St.
” 30
” 34
Last paid July, 1887.
J. «fe J.
7
1.377.000
61 1866 500 &c.
fe
1.600.000
1,000
6 g. M. «fe N. N.Y.,195 B’y < U.Tr.Co.
100 1865
do
do
630.000
1,000
7 g. M. «fe N.
100 1879
Ü.S. Treas., at maturity
6
1,600,000
100 ’66-7-8 1,000
Boston Co.’s office.
A. «fe O.
5
2,000,000
1,000
99 1886
M. «fe S. Phila. Fid. Ins. & Tr. Co.
2.500.000
1,000
53 1889
? g. M. «fe S. New York Agency.
4 g53 1891 500 «feo
(1
)
fe
J. «fe J. Balt., at B. < O. office.
3
2,860,048
50
137
2.500.000
1,000
4ia g M. «fe S. N. Y., Union Trust Co.
137 1886
&
1 F. < A. N.Y., S.Pac.Co., 23 Br’d.
100 67,275,500
do
do
6 g. J. «fe J.
737 1865-8 1,000 25.883.000
do
do
6.080.000
1,000
6 g. A. «fe O.
146 1870
25.883.000
6 g. J. «fe J United States Treasury,
737

If:

I»

Dividends since 1880—In 1881, 2% per cent; in 1882,n il; in 1883
and 1884, 2 ; in 1885 and 1886, n il; in 1887, 1888 and 1889, 2% ; m
February, 1890,1% and 1 extra; in August, 1% ; in 1891, Feb. 2, 1%.
From 1890’s earnings the surplus to Canada Southern was estimated
at $384,000 (against $407,000 in 1889); surplus of former years, $229,0 4 5 ; total, $613,045; dividends (2*2 per cent), $375,000; balance,
« 2 3 8 ,0 4 5 ; for 1888 surplus was $339,161; for 1887, surplus, $540,870.
For latest reports of earnings see Michigan Central. (V. 48, p. 5 88,
763, 854; V. 49, p. 825 ; V. 50, p. 8 3 3 , 904; V. 51, p. 909.)
C an adian P acific.—Owns main line from Montreal to Vancouver on
the Pacific Coast in British Columbia, 2,907 miles. There are branches
and auxiliary lines owned of 1,095 miles, and 1¡702 miles of leased
line; 56 miles used jointly; 549 miles operated independently for ac­
count o f owners, and the Calgary < Edmonton RR. (with 196 miles in­
&
cluded above) under construction, 300 miles making the whole system,
including the New Brunswick Railway, 6,609 miles. (See details m
C hronicle , V. 52, p. 799.) The road was opened throughout the first
o f July, 1886. In July, 1890, leased the New Brunswick Railway sys­
tem , 423 miles.—(See V. 51, p. 113.)
In April, 1891, a traffic arrangement was made with the New York
Central for the running of through freight trains over the West Shore
tracks to New York City. A new bridge is to be built across the St.
Lawrence at Brockville in order to connect with the N. Y. Central.
^00
g2, p. 534:.
The Canadian Pacific was incorporated February 18,1881, under a
charter from the Dominion of Canada. The company had an important
. contract in its charter, receiving from the Government $25,000,000 in
cash as a subsidy, also $25,000,000 acres of land, all to be fit for settle­
ment. In November, 1883, the Dominion Government gave a guarantee
o f 3 per cent dividends per annum till August, 1893, on $65,000,000 of
8 Price of stock: In 1883, 48V®65Lí; in 1884,
in l885,35% @
6314; in 1886, 61®73; in 1887, 49Is@ 6838; in 1888,511
4'@621 in 1889,
4;
47*2@75; in 1890, 67'@84%; in 1891, to May 22, inclusive, 72%® 80%.
Dividends since 1882—In 1883, 2% per cent; in 1884, 5 ; in
1885, 4 ; from 1886 to 1889 inclusive, 3 per cent yearly; in 1890, 5, of
which 2 per cent was supplementary out of earnings; in 1891, Feb., 2%
<of which 1 p. c. supplementary). See V. 50, p. 37.
In May, 1888, the company voted to relinquish its exclusive right to
build and operate in Manitoba, receiving the Dominion Government
guarantee of interest on $15,000,000 of land grant bonds. These bonds
for £3,093,700 are a lien on 14,674,916 acres of land subject only to
$3,438,500 land grant bonds of 1881, which aré redeemable at 110.
The first issue of consolidated debenture stock (£903,375) was made
in October, 1889 (see Chronicle, V. 49, p. 116), and in 1890 a further
amount of £1,000,000 was put out, and in 1891 it was still further inIn Juñe, 1890, company agreed to guarantee the principal and inter­
est of $20,000,000 4 per cents, to be issued by the Duluth South Shore
& Atlantic; also 4 per cent interest on bonds of the Minneapolis St. Paul
A Sault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 52, p. 608.)
To the Atlantic < Northwest Railroad, crossing the State of Mame,
fc
the Dominion Government grants a subsidy of $186,000 per year till
1906 and Canadian Pacific guarantees the balance of money necessary
*°The\and8 unsold December 31,1890, were 15,425,963 acres of Can.
adian Pacific grant and 1,242,990 acres of Manitoba Southwestern grant.
From January 1 to March 31 in 1891 (3 months) gross earnings on
5,568 miles were $4,213,754,against $3,214,339 on 5,407 miles in 1890;
net, $1,163,586, against $767,131.
The annual report for 1890 in full in the Chronicle , V. 52, p. 760,
797, showed the follow ing:
*1890.
1889.
1888.
5,568
5,029
Miles operated December 31..
5,075
$
$
Earnings—
jg
S» i
4,774,714
4,520,741
Passenger.................................... I ’n i v ’f P f
10,106,644
8,852,202
1,671,171
1,657,717
Mail, e x p r ’ 8S and miscellaneous 1,377,338

nettsville, S. C., 57 miles; Factory branch, 19 miles; Madison and
Granite branches, 14 miles; total, 338 mfies. The first mortgage (trus­
tee Farmers’ Loan < Trust Co.) is in three series, each series having a
fc
first lien on one division of the road and a second lien on the other
two divisions that are subject to the mortgage. „Series “ A” bond«
are a first mortgage on road from South Carolina State line to
Greensboro. Series “ B” bonds are a first mortgage on road from
Greensboro to Virginia State line. Series “ C” bonds are a first mort­
gage on road from Fayetteville to Wilmington. New consolidated
bonds at $15,000 per mile have been authorized, to take up the prior
bonds, build extension, «fee. North State Improvement Company was
entitled to second mortgage income bonds on main line and branches,
but the new consols will be given instead. Stock authorized, $3,000,000; outstanding, $1,374,402 (par, $100).
.
From July 1 to April 30 (10 months) gross earnings on 338 miles in
1890-91 were $512,800, against $379,477 on 300 miles in 1889-90; net,
$214,689, against $168,529. In year ending June 30,1890, gross earn­
ings were $456,618 ; net, $203,894; surplus over charges, $38,978.
— 46, p. 319 ; V. 48, p. 547, 7 6 3 , 799 ; V. 50, p. 589.)
(V.
Cape G irardeau Sou th w estern .—(See Map.)—Owns from Cape
Girardeau, Mo., to Hunter, Mo., 94 miles, and leases line to Zalma, 9
miles; total operated, 103 miles, to a Western connection with the Cuprent River Railroad. In December, 1890, it was voted to increase the
stock to $2,000,000, and to extend the road 45 miles from Hunter w
Mammoth Springs on the Arkansas State line. The mortgage of 1890
for $850,000 was issued to build this extension. Consolidated mortgage
bonds are reserved to retire the old divisional bonds when due, of
which only $111,000 remain outstanding. Mercantile Trust Co., trustee
Of the mortgage. There are also $150,000 7 per cent incomes. Stock
authorized $2,000,000; outstanding $1,150,000 (par $100 In 1890
gross earnings, $165,807; net, $85,677. In 1889, gross, $146,507; net
$76,431. President, Louis Houck, Cape Girardeau,Mo. (V. 52, p. 631.)
Carolina C entral.—Owns from Wilmington, N. C., to Rutherfordton, N. C., 267 miles, and branch, 9 miles; total, 276 miles. Defaulted
in 1876 and sold in foreclosure May 31,1880. Controlled by Seaboard
< Roanoke and Raleigh < Gaston. Stock, $1,200,000. In year ending
&
fc
June 30,1889, gross earnings were $562,296; net, $156,009; interest
on bonds, $129,937; other, $9,271; bonds redeemed, $11,000; surplus,
$12,222. There are also $212,000 first mortgage 7 P ercen t Wilming­
ton Railway Bridge Co. bonds, due October 1891 to 1897, and $46,000
second mortgage 5s, due 1898-1900, both issues being guaranteed by
the Carolina Central, the Wilmington Columbia & Augusta and the Wilmington < Weldon roads. (V. 50, p. 662, 735.)
fe
C arolina C u m berlan d Gap A C hicago.—Owns road in opera­
tion from Aiken to Edgefield, 8. C7, 25 miles, and projected to Abbeville,
42 miles additional. Operated under temporary arrangement by
receiver of the South Carolina Railway.
Carson & C olorado.—(3-foot gauge.)—From Mound House, Nev..
to Candelaria, Nev., 158 miles; Junction, Nev., to Keeler, Cal., 140
miles; total, 299 miles. Stock, $6,380,040 authorized; $2,760,000
issued. No information furnished. H. M. Yerington, President, Carson, Nev.
Carthage & A d iro n d a c k .—Owns from Carthage to Benson Mines*
N. Y., 43 miles. Stook $500,000, par $100. The Magnetic Ore Com*
pany guarantees the first mortgage bonds. In year ending June 30t
1890, gross earnings were $84,778; net, $37,780; interest and taxes,
$61,890; deficit, $24,190. Total deficit June 30,1890, $88,610.
C a ta w is s a .—Owns from Tamanend, Pa., to Williamsport, Pa., 93
m iles; branch, Summit Station to Silver Brook, 4 m iles; total operator
97 miles. Leased from November 1,1872, for 999 yeara to Philadelphia
< Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
fc
company expenses. Funded debt was assumed by
cent is guaranteed on the preferred stock, of whi<ffi $ 2 , 2 0 0 , 0 0 ?
preferred. The common stook is $1,159,500. par $50. (V. 48, p. 799.)
Cayuga & Su sq u eh an n a.—Owns from Suequehanna Riyer to
Ithaca, N. Y., 34 miles. Charter expires in 1899. ‘Leased till then to
Delaware Lackawanna & Western at a rental of $54,600 a year. Divi­
dends on capital, 9 to 9% per cent per. annum.
Cedar F a lls & M in n eso ta .—Owns from junction near Cedar
Falls, Iowa, to Minnesota State Line, 76 miles. Leased, to Dubuque &
Sioux City for 40 years from January 1 , 1867, at minimum rental or
$113,370 per annum. In 1887 a suit was brought to annul the lease of
this road, and in October, 1890, the United States Circuit Court decided
lease was valid. See V. 51, p. 493. Case has been appealed to the
United States Supreme Court. Interest was defaulted January, la s s .
The Dubuque < Sioux City is now controlled by the Illinois central.
fe

Total earnings..................... 13,195,536
Operating expenses.................. 9,324,761

15,030,660
9,024,601

16,552,529
10,252,828

Net earnings.......................I ----- 3,870,775
Per ot. of oper. exp. to earn’gs.
70-66

6.006.059
60-04

6.299.700
61-94

1889.
$
6.006.059
3,779,133

1890.
$
6.299.700
4,246,617

2,226,926
650,000

2,053,083 8^TO^J^Lr6’l ,° l ^ o i 1to1
Deoenib6r 31' I 3 3 0 1
1,300,000

INCOME ACCOUNT.

Net earnings...............................
Fixed charges............................
Surplus................., .....................

1888.
$
3,870,775
3,544,351
326,424 .

Supplementary dividends. .........................

Dec., 1890
Irredeemable.
July 26, 2882
June 1, 1916
June 1, 1916
June 1, 1916
Sept. 1, 1908
Jan., 1910
July 1, 1920
1910 < 1915
&
Nov. 1, 1912
1911,-’ 13-’18
May, 1923
Feb. 1, 1925
May 19, 1890
Feb. 1, 1900
Feb. 1, 1902
Jan. 2, 1891
Jan. 2, 1907
May 1, 1895
May 1, 1895
1896, ’97, ’98
Oct. 1, 1906
Sept 1, 1939
1991
Jan. 3 1 ,189JL
Sept. 1, 1930
Feb. 1. 1891
1895,’96,’7 «ft’s
O ct 1, 1900
1895 to 1898

3

' ^assSni l

753,083 ating expenses and taxes, $39,649. J. Kennedy Tod, President, New
Balance.................................
326,424
1,576,926
York. (V. 51, p. 493; V. 52, p. 427.)
►
Including New Brunswick Railway since September 1.
Central B ra n c h U n io n Pacific.—Owns from A tch i^ n ,K a n .,to
—(V. 49. p .1 1 6 ,173, 539, 689; V. 50, p. 37, 352, 622, 7 0 1 , 736, 874; Waterville, Kan., 100 miles; leases Atchison Colorado <fe^Pacific, 254
miles; Atchison Jewell County < Western, 34 miles
&
V. 51, p. 172, 239, 534, 570, 608, 7 6 0 , 776, 797.)
Cape F ea r A Y a d k in V a lle y .—("See Map.)—In operation from 388 miles. This company was formerly
Wilmington, N. C., to Mt. Airy, 248 miles; Fayetteville, N. C., to Ben- n.nd had a United States subsidy of $1,600,000. Controlled by Union




INVESTORS’
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26

INVESTORS’

SUPPLEMENT,

[V o l . O I .

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due«
Amount
of
For explanation of column headings, &c., see notes of
Par
When
Outstanding Rate per Payable Where Payably, and by Stocks—Last
on first page of tables.
Road. Bonds Yalue.
Cent.
Whom.
Dividend.
Central Pacific—(Continued) —
Western Pacific, old issue......................................... 147
1st mortgage, series A & B., gold........................
147
Western Pacific, Government lien, gold................
123
Cal. & 0 . 1st M., ser. A, g. (exte’d) \s. f.$100,000 296
Do
do ser. B, g.
s not drawn.
296
Land grant 1st M., gold, guar., extended in 1890.
Mort. gold, 5s, 1939, Id. gr.,guar., s. f., not dr’n .c 1,261
Central RR. & Bantling Co. o f Georgia—Stock........
General mortgage “ tripartite” bonds................. c* 620
Consol, mort. for $13,000,000, gold, red. at llO.c* 311
Collateral trust bonds, gold, redeemable at 110. c*
Certs, of debt, payable at option after July, 1891
Ocean SS. Co., 1st M. guar., s. f., $100,000'yearly
Consolidated mort. for $1,000,000, gold, guar.c
Savannah & Atlantic 1st mortgage, assumed...c*
17
Cent. BB. o f N. Jersey—Stock ($30,<509,000 author.)
Bonds, secured by consolidated mortgage of 1874
97
Consolidated mortgage (now first mortgage).. .c*
97
Convert, debentures, convert, into stock till 1907
ÎÏ
Long Branch & Sea Shore, 1st mortgage, guar, .c*
78
N. J. Southern 1st mortgage...............................c*
N. Y.. & L’g Branch 1st M., red. in 1899 at 110, g.c*
38
Gen. mort. for $50,000,000, gold (reg. Q
,.—J.)..c&r
Lehigh Coal & Nav., mortgage, gold, assumed.. . . . .
Am.Bock&Imp. Co. IstM. ,guar.,redeem, a tl 10. c*
Central o f South Carolina—1st mortgage, gold___c
Central o f Vermont—Consolidated RR. of Vt. 1st M.
Oentralia < Chester—1st M. for $1,680,000, gold.c*
6
Char. Cinn. di Chic.—IstM . gold. ($25,000p.m.).c*
Charleston < Savannah—Gen.M. ($1,500,000, g..c*
£
1st and 2d pref. inc., $1,000,000 each, non-cum..
Charleston Sumter <&North.—1st M.,g.,$15,000 p.m .

40
185
12Ï
121
76

1865
1869
1869
1868
1872
1870
1889
1872
1890
1887
1881
1882
1890
1890
1872
1874
1883
1869
1879
1882
1887
1867
1881

$1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
100
1,000
1,000
500 &c.
100
1,000
1,000
1,000
1,000
600
1,000
500 &c.
500 &o.
1,000

1881
1883 10Ó Ac.
1,000
1889
1,000
1887
1,000
1886
1886
1,000
1890

Pacific, but leased to Missouri Paoiflc for 25 years from Sept., 1885;
rental, net earnings. The stock is $1,000,000 (par, $100), of which the
Union Pacific owns $858,800.
From Jan. 1 to March 31 (3 months), gross earnings were $146,391 in
1891, against $337,243 in 1890; net, $40, against $148,697. In
1889 gross earxiings, $854,960; net income, $250,417; deficit under
oharges, $280,377. In 1890, gross, $974,472; net, $198,413; deficit
under charges, $316,361. Dividends: In 1885, 5 per cent; in 1886,10;
in 1887,10 ; none since.
Central M assach u setts.—Owns North Cambridge to Northamp­
ton, Mass., 99 miles. Formerly the Massachusetts Central, sold in fore­
closure September 1, 1883. The stock is $7,367,200 (par $100), of
which $3,946,922 is preferred. Leased to Boston & Lowell for 99 years
irom October 1,1886, at a rental of 20 per cent of gross earnings up to
$1,000,000, but With a guarantee of sufficient rental to pay interest.
Central N ew E n g la n d & W e ste rn .—(See Map.) - Owns from
Campbell Hall across the Hudson River at Poughkeepsie to Silvemails,
53 m iles; leases Hartford & Connecticut Western, Hartford to Rhinecliff, 108 miles, and operates the Poughkeepsie Bridge line, 3*2 m iles;
total, 164 miles. Has traffic contract with Boston & Maine.
Company organized in July, 1889, by a consolidation of the Hudson
Connecting Railroad and the Poughkeepsie & Connecticut Railroad.
The lease of the Hartford & Connecticut Western runs until September
1, 1940, at 2 per cent per annum on the stock ($2,635,700) and interest
on the bonds. Both mortgages covers the road from Campbell Hall to Silvernails, excepting line of Poughkeepsie Bridge Company; also
real estate equipment, &c.; the rights in the lease of the Hartford
& Connecticut Western Railroad and 13,900 shares of that company’ s
stock. Fidelity Insurance Trust & Safe Deposit Company of Philadel­
phia, trustee.
The first mortgage bondholders have agreed to Exchange their hold­
ings for the new general 4s, and to waive all interest for two vears.
The new bonds will further be issued to the amount of $1,400,0*00 for
new equipment and betterments, and the balance ($1,100,000) will be
held in the treasury. See Y. 52, p. 795. For Poughkeepsie Bridge, see
that company, under “ Miscellaneous.” Stock, $1,600,000, par, $100.
From January 1 to March 31,1891 (3 months), gross earnings were
$141,730, against $96,872 in 1890; net, 32,883, against $14,294; re­
vised fixed charges (3 months), $21,155. John S. Wilson, President, 115
Broadway, N. Y. (V. 49, p. 82,173; Y. 50, p. 314, 422; V. 51, p. 276,
457; V. 52, p. 40, 498, 795.)
Central O h io .—Owns from Bellaire, Ohio, to Columbus, Ohio, 137
miles. The road between Newark and Columbus (33 miles) is owned
iointly with the Pittsburg Cincinnati & St. Louis Railroad Co. Leased
to the Baltimore & Ohio till 1926, with option of renewal by the lessee;
rental, 35 per cent of gross earnings, with minimum guaranteed rental
of $166,000.. In 1889-90 gross earnings, $1,408,214; net, $309,809,
against $280,137 in 1888-89; loss to lessee, $213,365, against $192,895.
Dividends on common stock since 1880 have been: In 1881, 6*2 ; from
1882 to January, 1891, both inclusive, 6 per cent yearly. (Y. 48, p. 70;
V. 51, p. 205; V. 52, p. 204.)
Central Pacific.—(See Map o f Southern Pacific.)—Like of R oad .—
—Main Line—San Francisco, Cal., to Ogden, Utah (including 11 miles
leased), 883 miles ; Lathrop to Goshen, 146 miles ; Roseville Junction to
Oregon State Line, 296 miles ; other lines, 35 miles ; total operated and
accounted for January 1,1891,1,360 miles.
T he Chaetee , L eases, &c.—The Central Pacific was a consolidation
(August 22, 1870) of the Central Pacific (organized October 8, 1864)
and other railroads. This company received the Government subsidy,
but interest is not payable to the Government till the bonds mature.
The “ Thurman ” act of May 8,1878, directed that the charges for Gov­
ernment transportation should be withheld, and also that the company
should pay $1,200,000 yearly to the Government for the sinking fund of
its debt, or enough thereof to make all the payments equal 25 per cent
o f the net earnings each year. See Y. 50, p. 276. January 1, 1891
accrued interest due the Government amounted to $27,489,664, and par
value of securities in U. S. Government sinking fund was $3,878,000.
In March, 1885, the Central Pacific lines were leased to the Southern
Pacific Company. The Central Pacific receives all its net surplus
income above annual charges of every sort and betterments, and this
net surplus income is guaranteed to be not less than $1,360,000 yearly,
this sum being applicable to the payment of dividends.
Stock and B onds—Dividends: In 1877, 8 per cent; 1880,6; 1881.
6 ; 1 8 8 2 ,6 ; 1883; 6; 188 4,3 ; 18 8 8,2 ; 1889, 2 ; in 1890, Feb. 1 ,1 per
cent ; Aug. 1 ,1 per cent; in 1891, Feb. 1 ,1 per cent.
The sinking funds are invested mainly in the bonds of other tribu­
tary lines and accumulate; the bonds are not called in. The sinking
funds amounted January 1,1891, to $8,330,337. The 5 per cent m ort
gage bonds of 1889 are guaranteed principal and interest by the South­
ern Pacific Company; the mortgage is for $16,000,000, the Metropoli­
tan Trust Co. of N. Y. being trustee. (V. 49, p. 340.) There are still out­
standing $56,000 6 per cents (interest A. & O.), due Oct. 1,1936.
The land grant bonds due October 1,1890, were extended till October
1,1900,'at 5 per cent and stamped with the Southern Pacific Company’s
guaranty of principal and interest.
The L and Geant.—The total land granted the Central Pacific and the
California & Oregon companies was about 12,000,000 acres, of which
about 2,740,000 acres had been sold to December 31, 1890. In 1890




$111,000
2,624,000
1,970,000
5,982,000
5,858,000
4,258,000
11,000,000
7,500,000
4,999,000
(?)
4,880,000
4,600,000
269,000
731,000
250,000
18,629,200
1,167,000
3,836,000
605,000
197,000
411,000
1,500,000
34,960,000
2,310,000
4,987,000
239,000
300,000
7,000,000
(?)
8,300,000
1,236,000
2,000,000
1,140,000

6 g.
6 g.
6 g•
5 g.
6 g*
5 g5 g4
7
5 g.
5 g6
6
5 g.
5
î^
7
7
6
7
6
5 g5 g6 g.
5
6
6 g*
5
5 g5 g.
7 g.
7
6 g.

J. & D.
J. & J.
Various
J. & J.
J. & J.
A. & O.
A. & O.
J. & D.
J. & J.
A. & O.
M. & N.
J. & J.
J. & J.
J. & J.
M. & S.
Q.—F.
M. & N.
Q.—J.
M. & N.
J. & D.
J. & J.
J. & D.
J. & J.
J. & D.
J. & J.
J. & J.
J. & J.
J. & J.
Q.—J.
J. & J.
A. & O.

N.Y., S.Pac.Co., 23 Br’d.
do
do
United States Treasury.
N. Y., S.Pac.Co., 23 Br’d.
N. Y., S. Pac. Co. ¿London
do
do
N. Y. & San Francisco.
N.Y.,Sec.& Tr.Co.& Sav.
N. Y., Security & Tr. Co.
do
do
do
do
Savannah, Ga.
N. Y., Security & Tr. Co.
do
do
Savannah, Ga.
( N. Y., Office, com er )
l West & Liberty Sts. $
do
do
do
do
do
do
do
do
do
do
do
do
Phila., Leh. C. & Nav. Co.
N. Y., Cent. RR. of N. J.
Phila., Guar. Trust Co.
N. Y., John Paton & Co.
Boston, Am. L. & Tr. Co.
N. Y., Farm. L. & Tr. Co.
Boston Safe D. & Tr. Co.
N.Y.,12 W.23 & Cha’st’n

Dec. 1, 1895
July 1, 1899
1895 & 1899
Jan. 1, 1918
Jan. 1, 1892
Oct. 1, 1900
Apr. 1, 1939
Dec. 23,1890
Jan. 1, 1893
Apr. 1, 1937
May 1, 1937
After July, ’91
Jan. 1, 1892
July 1, 1920
Mch. 1, 1920
May 1, 1891
Nov. 1, 1902
July 1, 1899
May 1, 1908
Dec. 1, 1899
July 15,1899
Dec. 1, 1931
July 1, 1987
Dec. 15; 1897
July 1, 1921
1891 & 1892
1921
June 30,1913
July 1, 1919
July 1, 1947
Jan. 1, 1936
Apr. 2, 1910

53,601 acres were sold for $194,768 and total cash receipts of Land
Department were $310,226. Land contracts on hand January 1,1891,
to credit of land grant bonds, $1,067,039; cash, $242,447; notes of
Central Pac. RR., $2,500,000.
Opeeations, F inances, &c.—First dividend under the lease was paid
February 1,1888, and dividends have been paid regularly since at rate
of 2 per cent yearly.
From Jan. 1 to March 31,1891 (3 mos.), gross earnings were $3,453,791, against $2,843,199 in 1890; net, $1,453,166, against $337,840.
In 1890 gross earnings $15,937,004 (against $15,530,215 in 1889);
net, $6,061,987, against $5,765,943 in 1889; net profit under the lease,
$999,222, of which $100,612 was set aside for cars worn-out prior to
1890; balance due from So. Pac. (to make guaranteed rental), $461,389;
guaranteed minimum rental, $1,360,000; other income, $6,000; divi­
dends paid (2 per cent), $1,345,510; surplus, $20,490. Total surplus
to credit of income account Jan. 1,1891, $2,935,297. (Y. 49, p. 341,
654; V. 50, p. 107, 276, 7 0 1 ; V. 51, p. 345, 570; V. 52, p 126, 794.)
Central R a ilro a d & R a n k in g C om pany o f G eorgia.—(See
Map.)—Owns from Savannah, Ga., to Atlanta, Ga., 294 m iles; branch,
Gordon to Milledgeville, 17 miles: leases in perpetuity—Augusta &
Savannah Railroad, 53 miles; Eatonton Branch Railroad, 22 miles;
Southwestern Railroad and branches, 333 m iles; leases till 1985 Mobile
& Girard Railroad, 85 miles; controls by ownership of stock—Savannah
& Western Railroad, 428 miles; Montgomery & Eufaula Railroad, 80
miles; total operated and practically owned June 30,1890,1,312 miles;
Auxiliary system (the earnings of which are reported separately) in­
cludes, besides other lines, Western Railroad of Alabama, 138 miles;
Georgia Railroad, 307 m iles; Port Royal & Augusta, 112 miles; Atlanta
6 West Point, 87 miles; Port Royal & Western Carolina, 229 miles, and
Savannah Griffin & North Alabama, 60 miles, and embraces in all, 984
miles. Grand total of Central Railroad mileage, 2,296 miles.
In May, 1891, the Chattanooga Rome & Columbus (which see) was
brought into this system, its entire stock being purchased by the Savan­
nah & Western. See V. 52, p. 761.
The Central Railroad & Banking Company is controlled by the owner­
ship of a majority of its stock by the Georgia Company, which in turn is
owned by the Richmond & West Point Terminal, giving that company
control of the Central Georgia system. (See V. 47, p. 499.)
In 1891, a lease to the Georgia Pacific Railroad Company
(which in turn is leased to the Richmond & Danville) was arranged for,
7 per cent to be guaranteed on the stock. See. V. 52, p. 462.
Dividends since 1881—In 1882, 8 per cen t; in 1883, 7 ^ ; in 1884,
5*2; in 1885, 4 ; in 1886, 6 ; from 1887 to December, 1890, both inclu­
sive, at rate of 8 per cent per per annum.
Owns entire stock of Ocean Steamship Co. In the auxiliary lines
the Central RR. owns part interests, either half or greater, represented
June 30,1890, by $5,935,886 stocks and $3,636,640 bonds or mortgage
notes. In 1881 the Georgia RR. was leased for 99 years in the interest
of this company and the Louisville & Nashville, which operate it on
joint account. Owns, jointly with the Georgia RR. Co., the Western RR. of
Alabama, 138 miles. For abstract of collateral trust mortgage of 1887
(Central Trust Co. of New York, trustee), see V. 45, p. 242. The con­
solidated mortgage was authorized in 1890. See mortgage abstract, V.
51, p. 571.
From July 1,1890, to March31,1891 (9 months), gross earnings were
$7,134,610, against $6,859,741 in 1889-90; net, $1,875,890, against
$1,999,252; net, including income from investments, $2,012,046, against
$2,082,669.
Fiscal year ends June 30. President’s report for 1889-90 was in V.
51, p. 713, 720.
1887-88.
1888-89.
1889-90.
............
1,254
1,312
Miles operated June 30..................
Gross earnings................................ $4,874,960 $5,107,595 $6,040,935
Expenses................... ....................... 2,801,257 3,316,266 4,367,409
Net earnings railroads............. $2,073,703 $1,791,328 $1,673,526
Net earn’gs steamship companies..
526,201
476,454
423,524
Net bank and investments............. * 119,016
169,612
248,116
Total net income of company.. $2,718,920 $2,437,395 $2,345,166
Less interest and rentals................
............
1,792,105 1,913,176
Excess of inc. over fixed charges..
............
$645,290 $413,993
—(V. 50, p. 800; Y. 51, p. 84, 571, 7 1 3 , 7 2 0 ; V. 52 p. 462, 761.)
Central R R . o f N ew Jersey .—(See Map)—Operates 660 miles o f
railroad, of which 156 miles are owned, the remainder being mostly pro­
prietary lines or operated under 999-year leases. In addition owns fer
ries and steamer lines, 21 miles; in all 681 miles.
The principal leased line is the Lehigh & Susquehanna and branches,
202 miles. (See Lehigh Coal & Navigation Co.) The minimum rental of
Lehigh & Susquehanna is $1,885,800 till 1893, and after that $2,043,000. The New York & Long Branch RR. stock and New Jersey South­
ern RR. stock are owned by the Central of New Jersey, and their bond»
are included in its debt. A majority of the Lehigh & Wilkesbarre Coal
Co.’s stock is held by Central of New Jersey, ana of the $11,500,000
Lehigh & Wilkesbarre Coal consolidated 7 per cent bonds, $6,116,009
are held by Central of New Jersey and receive interest after all otherinterest is satisfied. Also owns entire stock of the American Dock &
Improvement Co.

May , 1891.]




RAILROAD STOCKS AN D BONDS.

&7

28

USYESTOBS’

SUPPLEMENT,

[V ol. Ln,

Subscribers w ill confer a great favor by g iv in g im m ed iate notice o f a n y error discovered In these T a b les.
RAILROADS.
of
of
Road. Bonds

on first page o f tables.
Charlotte Columbia dt Augusta—Stock......................
1st mortgage consolidated.......................................
2d mortgage............................. .......... ............. ......
Consol, mort., gold, for $3,000,000, see remarks.«
Chati. Borne < Col.—Rome & Carrol. 1st mort. gold,
&
1st, gold, guar. $16,000 per mile........................ c*
Income bonds, non-cumulative...............................
_
Chattanooga Southern—1st M. ($15,000 p. m.)_ c”
Chattanooga Union—Union Railway mortgages ...
Chat. Un. consol, mort. for $600,000, gold.......c*
Chartiers—1st mortgage.......................................... c
Ches.<£ Nash.—lstM.,g.,$25,000p.m.,s.f.,not d’rn.c’
Chesapeake & Ohio—Purch. money funding bonds. c
1st mortgage, gold, series “ A ” ............................c’
1st mortgage, gold, of 1911, Peninsular Extens.c’
1st mort., gold, of 1922, on ext. (for $3,000,000) c’
1st consol, mortgage for $30,000,000, gold ..c*&r
Rich. & All 1st consol. M., gold, (See remarks).. .c*
Do
do
do
............... . ........
D o 2d consolidated mortgage, gold.......................
•Craig Valley branch 1st M., gold, for $650,000.c*
Equipment trust bonds........................................c*
Allegheny Car Trust, Series A, B and C................
Equipment notes.......................................................
Elevator Co. 1st M., prin. &int. guar, by C. & O.c*
Income, 2d mortgage, for $500,000 non-cum.c*
Ches. Ohio & Southwestern.—
Paduc. &Eliz.,lstM.,s. f., dr’n at 100($300,000 8s)
1st mortgage, gold ($19,000 per mile)...............c*
2d mortgage ($11,000 per mile)........................ c*
Equipment trust bonds for $2,000,000, not dr’n.c*

Ï9 Ï
191
22
140
48
23
35
428
503
75
8
655
256
256
256
26

....
186
352
352

Bonds—PrinciINTEREST OR DIVIDENDS.
pal, When Due.
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Value.
Cent. Payable
Whom.
Dividend.

$100 $2,578,000
1869 500 &c.
2,000,000
1872
1,000
500,000
1883
1,000
500,000
1885 100 &e.
150,000
1887
1,000
2.090.000
1887
1,000
1.400.000
1889
1,000
720,000
’85-’ 87 1,000
200,000
1,000
1888
400,000
1871
1,000
500,000
1887
1,000
875,000
1878
1,000
2,287,000
1,000
1878
2,035,724
1881
1,000
2,000,000
1882 500 &c.
142,000
1889
1,000 22,066,000
1890
1,000
5,000,000
1890
1,000
1,000,000
1890
1,000
1,000,000
1890
1,000
300,000
Var.
1,000
507,000
346,000
1,018,958
1888
1,000
820,000
1888
1,000
315,000
1877
1881
1881
1882

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

Receivers were in possession from January 1,1887, till January, 1888,
when the road went back to its owners. The terras of reorganization,
etc., were given in the Chronicle V. 44, p. 714, 716. Dividends were
resumed August, 1889.
Of the general mortgage of 1887 (see abstract of mortgage V. 45, p.
402) $8,952,100 are reserved for other issues. Trustee of consolidated
and general mortgages is the Central Trust Company of New York.
January 1,1891, there were $189,413 real estate bonds and mortgages
and $2,506,000 of temporary loans outstanding.
Dividends since 1882: In 1883,1*2 per cent; in 1884, 4 ^ ; in 1 889,3;
in 1890, 6 ; in 1891, February 3 , 1 ^ ; May 1 , 1 «
Price of stock since 1879: In 1880, 45®901 in 1881, 821 112; in
4;
2®
1882, 6 3 ^ 9 7 % ; in 1883, 6834^90; in 1884, 37!2®90; in 1885, 31®52;
In 1886, 42*4®64; in 1887, 55^^8634; in 1888, 73ia'®951 in 1889,
4;
923*@131; in 1890, 90® 128^; in 1891, to May 22, inch, 106® 122%.
From January 1 to April 30, 1891 (4 months) gross earnings were
4,106,775, against $3,701,992 in 1890; net, $1,650,236, against
1,351,965. For first three months of 1891 surplus over fixed charges
was $85,359, against deficit of $89,030.
The report for 1890, in full, was in V. 52, p. 222, 236, 240.

f

EARNINGS AND EXPENSES.

1888.
$
5,398,290
7,500,653
278,530

1889.
$
5*899,119
7,344,539
253,736

1890.
$
7,051,524
6,725,696
349,343

Total gross earnings............... 13,177,473
Operating expenses and taxes___ 7,204,068

13,497,394
7,531,737

14,126,563
8,161,276

5,965,657

5,965,287

'Earnings—
Passenger and freight..................
Anthracite c o a l.............................
Mail, express, e t c ................

Net earnings............................
JWd W
u i'a

5,973,405

INCOME ACCOUNT.

' avoa
1888.
1889.
1890.
Receipts—
$
Net earnings.................................. 5,973,405
5,965,658
5,965,288
Income from investments............ 1,507,159
799,238
837,293
Premium on bonds sold...... .............................
322,753
K ft. •
W
-------------Total net income................
7,480,564
6,764,896
7,125,334
Disbursements—
Rentals paid.................................... 1,862,127
1,890,381
1,819,815
Interest on debt............................. 2,860,314
2,828,632
2,798,148
Dividends....................................................... .
(43^) 835,719 (6)1,117,092
Total disbursements............... 4,722,441
5,554,732
5,735,055
Balance, surplus.......... .......... 2,758,123
1,210,164
1,390 279
— (V. 50, p. 139, 259, 2 7 4 , 277; V. 52, p. 222, 2 3 6 , 2 4 0 , 278, 761.)
Centra] o f »o u th C aro lin a.—Owns from Lane, 8. C., to Sumter,
S. C., 40 miles. Leased to the Northeastern and the Wilmington Colum­
bia & Augusta RR. companies jointly ; rental $31,000 yearly. Stock
170,000, par $50. In year ending June 30, 1890, gross earnings
115,223 ; net, $51,158 ; rental, $31,000 ; balance to lessees, one-half
each, $20,158.
Central o f V e rm o n t.—This company operates under lease the
following roads: Consolidated RR. o f Vermont—Windsor to Rouse’s
Point, 158 miles; Essex Junction to Burlington, 8 miles; Swanton Junc­
tion to Province, 11 miles; Rutland RR.—Bellows Falls to Burlington
120 miles; Addison RR.—Leicester Junction to Ticonderoga, 15 milesMontreal & Vermont Junction—Province Line to St. Johns, 23 miles’
43. S. & Chambly RR.—S. S. &C. Junction to Waterloo, 43 ¡¡¡miles; Ogdens­
burg <t Lake Champlain RR.—Rouse’s Point to Ogdensburg, 118 milesS
New London & Northern RR.—Brattleboro to New London, 121 miles’
Brattleboro <t Whitehall RR., 36 miles; Montpelier & White River RR.’
S
13 miles; Burlington <t Lamoille RR., 34 miles; Mississquoi .Valiev RR
S
—St. Albans to Richford, Vt., 28 miles; total, 731 miles.
The Central of Vermont was organized in April, 1873, under a charter
from Vermont. It has no road of its own, blit operates above mileage
under lease. The Consolidated Railroad of Vermont was organized July
1,1884, embracing the former Vermont Central and Vermont & Canada
properties, and was then leased to the Central Vermont. The stock of
the Consolidated Vermont is $750,000 preferred 6 per cent and $300 OOO common. The stock of the Central Vermont is $1,000,000. Com­
pany owns $1,612,500 stock of the Ogdensburg & Lake Champlain RR
In September, 1888, leased the Missisquoi Valley Railroad at 4 per cent
•on $500,000 stock, payable January 1 and July 1. The lease of the
Rutland RR. to the Central Vt. was extended for 999 years from Decem­
ber 31,1890, with option to purchase a controlling interest. (See Rut­
land and V. 52 p. 41.)
In year ending June 30,1889, gross receipts, $4,780,913 ; net earn­
ings, $1,422,178; balance over rentals, taxes, interest, etc., $57 215
In 1889-90, on 631 miles, gross, $5,245,135; net, $1,609,107 ; charges’
«etc.. $1,400,041; extraordinary expenditure $204,000; balance, $5.066’
—(V. 47, p. 459 ; V. 49, p. 6 5 3 ; V. 51, p. 680, 715.)
C e n tr a lla Sc Chester.—(See Map.)—Chartered to build from Ches­
ter, 111., to Altamont, 111., with branch to a point opposite St. Genevieve
Total distance, 140 miles, including siding. Road completed and in
-operation between Sparta and Nashville, 25 miles, and graded between
Nashville and Centralia, 20 miles. At Centralia connection will be
made with the Illinois Central. Steel rails on hand and road to be compiejed and in operation to Centralia by July 1,1891. Bonds author­
ized, $12,000 per mile, covering roadbed, equipment and terminal facil­

t




500,000
6,176,000
3,865,000
617,000

1
7
J.
7
A.
6 g. J.
6 g. J.
M.

I e-

6 g.
6
6 g.
7
5 g.
6 g.
6 g.
6 g.
6 g.
5 g.
2-4 g.
4 g4 g.
5 g.
6 g.
5
6
4 g.
4

&
&
&
&
&

N. Y., 80 Broadway.
J.
O.
J.
do
do
J. N. Y., S. Bore <t Co.
S
S. N. Y., Security <tTr. Co.
S

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

June 1, 1889
Jan. 1, 1895
Oct 1, 1902
July 1, 1933
Jan. 1, 1916
Sept. 1, 1937
Sept., 1937
Dec. 1, 1919
J > ,’05-Jan.’07
July 1, 1918
Oct. 1, 1901
Aug. 15,1937
July 1, 1898
July 1, 1908
Jan. 1, 1911
June 1, 1922
May 1, 1939
Jan. 1, 1989
Jan. 1, 1989
Jan. 1, 1989
July 1, 1940
Various.

& D. ,N. Y., Central Trust Co.
«S J. N. Y., Farm. L. <tTr. Co.
t
S
& J.
do
do
& O. Philadelphia, Penn. RR.
& A. N. Y* Office, Mills Bide.
<t J. N. Y.,Drexei,Morg. < Co.
S
fc
& O.
do
do
«S O.
t
do
do
« t D.
S
do
do
M . «St N .
do
do
J. « t J.
S
do
do
J. <t J.
S
do
do
J. <t J.
S
do
do
J <St J..
do
do
Various
do
do
Various
do
do
do
do
A. « t O. N.Y.,Drexel,Morg.«fe Co. O ct 1, 1938
S
Oct. 1.
Oct. 1, 1988

6 & 8 F. « t A.
S
6 g- F. & A.
6
F . «St A .
6
J . <t J.
S

N. Y., 23 Broad St.
do
do
do
do
do
do

Feb. 1, 1897
Aug. 1, 1911
Aug. 1, 1911

ities; stock issued and subscribed for like amount. The road is standard
gauge and is being laid with 56-pound steel rails.
C harleston C in cin n ati Sc C hicago.—(See Map.)—This road was
being built by the Massachusetts & South Carolina Construction Com­
pany from Charleston, S. C., through the States of South Carolina,
North Carolina, Tennessee, Virginia and Kentucky to Ashland, on
the Ohio R iver; 175 miles between Camden, S. C., and Marion,
N. C., is now in operation, forming a through line, in connection with
the South Carolina RR., 290 miles long, between Charleston, S. C., and
Rutherfordton, N. C. The counties, towns and townships through
which the road rims voted aid to the amount of about $1,500,000, payable in their 6 and 7 per cent bonds, in exchange for an
equal amount of stock, these subscriptions being payable as the road was
completed. In December, 1890, the parties backing this enterprise be­
came embarrassed, and in February, 1891, D. H. Chamberlain, receiver
of the South Carolina RR., was made receiver. In May, 1891, it was
reported that an agreement had been reached among the bondholders,
permitting a new mortgage to be issued as a prior lien for $4,500,000.
This will provide the means for completing the road, etc. See V. 52, p.
795. Stock, $6,567,000, par value, $100. From Jan. 1 to Feb. 28,
1891, gross earnings were $27,112, against $20,266 in 1890. General
offices of the company, 45 Broadway, N. Y. (V. 50, p. 904; V. 51, p. 113,
680, 829, 875; V. 52, p. 203, 349, 680, 795.)
C harleston & S a va n n ah .—Owns from Savannah, Ga.,to Charlesleston Junction, S. C., 104 miles (except 7 miles trackage), and branch to
Youngs, leased, 6 miles; operates—Ashley River branches, &c., 8 miles;
Charleston Junction to Charleston, 7 miles ; total operated, 125 miles.
This was first the Charleston & Savannah RR.; reorganized in 1866
under name of Savannah & Charleston, and opened March, 1870. Sold
in foreclosure June 7, 1880, and present company organized. Stock,
$500,000. Gross earnings in 1889, $606,911 ; net over expenses and
taxes, $124,475 ; surplus over charges, $38,025. In 1890 gross, $682,740; net, $157,728. Paid l ^ per cent on first incomes in 1889, 2 per
cent in 1890 and 6 in 1891. H. B. Plant, President, New York. (V.
52, p. 590.
Charleston Sum ter Sc N orth ern .—Operates from Pregnalls,
S. C., to Darlington, S. C., 95 miles, and branches, 18 miles. Under
construction from Darlington to Bennetsville on the Cape Fear <t
S
Yadkin Valiev, about 24 miles. Formerly thé Eutawville Railroad;
name changed in 1890. President, Charles E. Kimball. (V. 51, p. 239.)
Charlotte C olu m bia Sc A u g u sta .—Owns from Charlotte, N. C. ’
to Augusta, Ga., 191 miles; leases Atlantic Tennessee & Ohio Rail­
road, Charlotte to Statesville, 44 miles ; Cheraw & Chester, 29 miles,
and Chester & Lenoir, 109 miles ; total operated (including 10 miles of
Western North Carolina), 373 miles. Controlled by Richmond & Dan­
ville since 1878, and in May, 1886, leased to that company for net
earnings. In case of any deficiency in net earnings to pay fixed charges
the lessee may at its option advance the funds needed to meet the de­
ficiency, all such advances to be secured to it by a mortgage lien in­
ferior only to that of existing mortgages. The $500,000 first consols
outstanding are guaranteed as to principal and interest by indorsement
by the Richmond & Danville. There was due other companies June 30,
1889, $53,329. Of the stock $1,300,000 was deposited by Richmond &
West Point Terminal under its collateral trust deed of 1889. Divi­
dends in 1888, 4 per cent ; in 1889, 2.
From July 1 to Dec. 31,1890 (6 months), gross earnings were $517,156, against $475,278 in 1889; net $153,447, against $167,301.
In year ending June 30, 1890, gross earnings were $912,560 ; net,
$255,497 ; deficit after interest and rentals, $12,690. In 1888-89 gross,
$902,469 ; net, $287-,086.
Chartiers.—Owns from Mansfield, Pa., to Washington, Pa., 23 miles.
Sold under foreclosure and reorganized in 1867. Leased for 99 years
from January 1,1872, to the Pittsburg Cincinnati & St. Louis (now
Pittsburg Cincinnati Chicago & St. Louis); the rental is net earnings.
In 1890 gross $266,900; net, $123.106; surplus over fixed charges $99,610; dividends (5*2 per cent), $35,491; balance, $64,118. Capital
stock, $645,300 (par $50), of which the Pennsylvania Railroad owns
$333,850. Dividends since 1880 as follows : 1881 to 1886, inclusive,
nil; 1887,1888 and 1889, 5 per cent; in 1890, 5*2; in 1891, April 1, 3*2.
C hattanooga R o m e Sc C olu m b u s.—Owns from Chattanooga to
Carrollton, 140 miles; branches to ore mines, 36 miles; total, 176 miles.
Successor in 1887 to the Rome & Carrollton Railroad. Stock, $2,800,000 (par $100), and all the incomes were purchased in May, 1891. by
the Savannah & Western (Central of Georgia system) which guarantees
by indorsement, the first mortgage bonds of 1887. See V. 52, p. 761.
$150,000 bonds are held to retire same amount of Rome & Car­
rollton prior bonds. In 1890 gross earnings were $360,846; net,
$156,811. (V. 49, p. 269; V. 50, p. 243, 345 ; V. 52, p. 280, 761.)
C hattanooga Southern.—Under construction from Chattanooga,
Tenn., via. Alpine, Ga., to Gadsden 87 miles. In operation from Chat­
tanooga to Estelle, Ga., 24 miles. In May, 1891, grading had been com­
pleted on the whole line including 500 feet of tunnel. Stock authorized,
$2,000,000 ; outstanding, $765,000.
C hattanooga U n io n .—Owns 50 miles of belt railroad in Chatta­
nooga, Tenn., connecting the ten lines entering that city. In March,
1891, a Boston syndicate bought $800,000 of the company’s $1,000,000
stock, and it is said will extend the road to the coal fields at Lookout
Mountain. See V. 52, p. 534. There are also Union Depot bonds, inter­
est J. & J. From Jan. 1 to March 31,1891 (3 months), gross earnings
were $22,853, against $23,543 in 1890 ; net, $6,070, against $6,617.

Ma t , 1891.]




RAILROAD

STOCKS AND

BONDS,

2 2

30

lKTESTORS’

SUPPLEMENT.

[Y ol. U L

Subscribers w i ll confer a great favor by g iv in g Im m ed iate notice o f any error discovered In tbese T a bles.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Whom.
Cent. Payable
Dividend.
Road. Bonds Value.
on first page of tables.

Preferred stock (7 per cent yearly not cumulative)
1st mortgage.............................................................
General mortgage, sterling, for £900,000............
Joliet & Chic., 7 p.c. stock, perpet.,guar. by C.&A.
St. Louis Jacksonville & Chic., 1st M., assumed..
1st mortgage, endorsed by Chicago & Alton___
2d mortgage, endorsed by Chicago & Alton___
2d mortgage, assumed (convertible)..................
Louisiana & Mo., guaranteed preferred stock___
1st mort. ($439,100 assumed by Chic. & Alton)
2d mort. (interest guaranteed Chicago & Alton)
S.f.bonds for K.C.St.L.&C. (IstM.as collat.)not dr’n
Pref. stock Kansas City St. L. & C., guaranteed..
Miss. River Bridge, stock (7 per ct. guar. (C.& A )..
Istmortgage, assumed, g. sink, fund, dr’n at 100.
Chicago Burl. & Northern—IstM ., s.f.,red. at 105.c*
2d M. ($10,000 p. m.) red. after May 3 1 ,1 8 9 8 ..c*
Ten-year debentures.............................................c*
Equip. M.,red. at 105; after’93 lOp.c.dr.y’lylOO.c*
Chicago Burlington < Quincy—Stock........................
6
Chib. Burl. & Quincy consol, m ortgage............. e*
Plain bonds................................................ ........c*
Sinking fund bonds, (1st M. as coll.) not dr’n.c*
Sink, fund bonds (1st M. as coll.) not dr’n.c*&r
Burl. & Mo. Riv. (inIowa) lstM.lgr.s.f.,notdr’n.c*
1st mortgage convertible bonds.......................c*
Ch. Burl. & Q. Iowa Div., s. f. 5s, drawn at 1 0 5 ..)
Iowa Div., s. f. mortgage 4s, drawn at 100. c&r $
Sink, fund 4s (for B. "& S. W.) drawn at 100.c&r*
Denver exten. (collat. tr.) b’ds, s.f. dr’n at lOO.c*

220
322
38
150
37
37
150
101
101
101
162
162
363
363

820
33
286
278
40

415

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

14,115,000
3,479,500
2,383,000
4,379,850
$1,500,000
1864
2,365,000
1864
564,000
1868
188,000
42,000
1868
329,100
1870
1,725,000
300,000
1877
2,149,000
1878
1,750,000
300,000
1877
1,000
620,000
1886 500 &c.
8,710,500
1,000
2,215,000
1888
1,000
935,000
1886
1,000
940,000
1888
100 76,394,505
1,000 17,500,000
1873
1,000
547,500
1871
1,000
1875
348,000
1,000
1876
2,316,000
1863 50 &c.
4,126,500
’ 69-’70 500 &c.
66,000
2,892,000
? 1879 1,000
1,000
8,579,000
51879
1,000
4,300,000
1881
1,000
7,968,000
1881
1862
1873

Chesapeake & N ash ville.—Road owned from Gallatin to Scottsville, Tenn., 35 miles, and branch, Gallatin to Hartsville, 12 miles, in
progress. On December 8,1890, Gen. John Echols was appointed re­
ceiver. See V. 51, p. 829. Stock, $1,050,000; par, $100.
Chesapeake & O h io.—(See Map.)—Owns Old Point Comfort, Va.»
via Newport News and Charlottesville, to Big Sandy River, West Vir­
ginia, 511 miles; Richmond to Clifton Forge, 231 miles; branches to
Lexington, &c., 67 miles; leases, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. connection, 2 miles; Gordonsville to Orange
(Virg. Midland), 9 m iles; trackage (Elizabeth Lexington & Big Sandy),
Big Sandy River to Ashland, 8 miles (Virginia Midland and Washing­
ton Southern); Orange to Washington, 86 miles. Also controls and
operates the Maysville & Big Sandy Railroad (Ashland to Covington,
Ky., 143 miles) and bridge between Covington and Cincinnati; total,
966 miles, of which 32 miles are double track. The extension to Cin­
cinnati was opened January, 1889. The Craig Valley branch from Eagle
Moun-tain to New Castle, Va., 26 miles, is nearly finished.
Organization, &c.—The former Chesapeake & Ohio was sold in fore­
closure April 2,1878, and this company organized. Interest having
been defaulted on, a receiver was appointed October 28,1887. In 1888,
under the direction of Drexel, Morgan & Co., the company was reor­
ganized without foreclosure, and the road extended to Cincinnati. The
consolidation with the Richmond & Allegheny, which had been operated
under a temporary arrangement’’since September, 1888, was consum­
mated in January, 1890. In 1891, by an arrangement with the Rich­
mond & Danville, the right was secured to run trains into Washington,
D. C , over the Virginia Midland. See V. 51, p. 829.
Until January 1,1894, the voting power and control of the company
remains with three trustees, viz.: J. Pierpont Morgan, John Crosby
Brown and George Bliss. In July, 1889, a controlling interest in the
stock was purchased by the parties interested in Cleveland Cincinnati
Chicago & St. Louis, known as the “ Big Four.”
Stock and B onds.—The stock is $46,000,000 common, $13,000,000
1st preferred 5 per cent non-cumulative and $12,000,000 2d preferred
5 per cent.
Price of common stock (since reorganization in 1888): In 1889,15!«
@28; in 1890, 14*2®27*s ; in 1891, to May 22, inclusive, 1578®197
8.
Price of first preferred stock: In 1889,56*2®69*2; in 1890, 36®66%;
in 1891, to May 22 inclusive, 44@ 541
4.
Price of second preferred: In 1889, 29*2®46*8; in 1890, 23*2®461 ;
e
in 1891, to May 22 inclusive, 26*4®34*2.
The consolidated mortgage, due in 1939, is for $30,000,000 (trustee
o f mortgage, Central Trust Co.), and sufficient bonds are reserved to
provide for prior liens, the balance being held in the treasury for use as
needed. This mortgage is also secured by deposit in trust of the $11,000,000 bonds and two-thirds of the stock of the Maysville &Big Sandy
RR., Ashland to Covington, Ky., and the Bridge to Cincinnati, all owned
by the Chesapeake & Ohio RR. Co. (See abstract of mortgage in
Chronicle, V. 49, p. 147.)
The first consolidated mortgage on the Richmond & Allegheny division
is for $6,000,000 bonds, of which $1,000,000 are 4 per cents, and the
balance carry 2 per cent interest till January, 1894, and thereafter 4
per cent. The second consols bore 3 per cent till January, 1891, and
thereafter 4 per cent. The Central Trust Co. and Henry T. Wickham are
the trustees under both deeds of trust. (See abstracts of mortgages, V.
51, p. 144.)
There are also $26,897 series B 6s, due in 1908; $170,000 New River
bridge bonds, due in 1898.
Operations, F inances, &e.—The annual fixed charges for rentals,
interest and taxes in year 1890-91 will be about $2,000,000.
From July 1,1890, to March 31,1891 (9 months), the gross earnings
were $6,055,015, against $5,321,509 in 1889-90; net, $1,731,032,
against $1,418,378, the mileage being 931 miles in both years.
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 274,
and showed the following; in 1889-90 very considerable expenditures
for new construction, etc., were charged to operating expenses, thus
reducing net earnings:
1888-89.
1889-90.
-Gross earnings. , ____ I......................................... 5,290,000
Gperating expenses.................................... |........ 4,165,000

7,161,949
5,455,127

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

Q.—M.
Q -M .
J. & J.
J. & J.
Q .-J A. & O.
A. & O.
J. & J.
J. & J.
F. & A.
F. & A.
M. & N.
M. & N.
Q.—F.
J. & J.
A. & O.
A. & O.
J. & D.
J. & D.
F. & A.
Q.—M.
J. & J.
J. & J.
J. & D.
A. & O.
A. & O.
J. & J.
A. & O.
A. & O.
M. & S.
F. & A.

5 N. Y., John Paton &) June 1, 1891
( Co. & Chic. Tr. Office. S June 1, 1891
N. Y., John Paton & Co. Jan. 1, 1893
Lond’n,J.S.Morgan&Co. July 1, 1903
N. Y., U. S. Trust Co.
April, 1891
N. Y., John Paton & Co. Apr. 1, 1894
do
do
Apr. 1, 1894
do
do
July 1, 1898
do
do
July 1, 1898
do
do
Feb. 1, 1891
do
do
Aug. 1, 1900
do
do
Nov. 1, 1900
do
do
May 1, 1903
do
do
May 1, 1891
Chic., Treasurer’s Office Jan., 1891
N. Y., John Paton & Co. Oct. 1, 1912
N.Y., F.L. &T. Co. & Bost. Apr. 1, 1926
do
do
June 1, 1918
do
do
Dec. 1, 1896
do
do
Feb. 1, 1903
N. Y., Boston and Chic. June 15, 1891
N.Y., Bk.of Corn.* Bost. July 1, 1903
Jan. 1, 1896
do
do
Boston, Co.’s Office.
June 1, 1895
N.Y., Bk.of Com.& Bost. Oct. 1, 1901
N. Y., F. L. &T. Co. & Bost. Oct. 1, 1893
July 1, 1894
Boston, Co.’s Office.
N.Y., Bk.of Com. & Bost. Oct. 1, 1919
Oct. 1, 1919
do
do
do
do
Sept. 1, 1921
do
do
Feb. 1, 1922

there was due the Newport News & Mississippi Valley Co. (as per that
company’s report) $935,429.
From January 1 to March 31,1891 (3 months), gross earnings on
398 miles were $567,310, against $483,518 on 398 miles in l8 9 0 ; net,
$174,106, against $170,306.
The annual report in V. 52, p. 569, showed the following. A cyclone
in 1890 cost the company heavily. See report.
1887.
1888.
1889.
1890
$
$
$
$
Gross earnings.................... 2,001,723 2,005,168 2,134,195 2,161,685
745,710
927,039
828,512
Net receipts........................ 821,863
Rentals, taxes, int’est, &c. 715,872
826,872
866.216
868,979
Balance.........................su. 105,991 def. 81,162 sur. 60,823 def.40,467
—(V. 50, p. 5 1 8 ; V. 52, p. 5 6 9 , 718.)
Chicago & A lto n .—L ine of R oad—Joliet to East St. Louis
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to Wash­
ington and Lacón, 80 miles ; Roodhouse to Louisiana, 38 miles ; Upper
Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago to
Joliet, 37 miles ; Bloomington to Godfrey, 150 miles ; Louisiana to Cedar
City, 101 miles ; Kansas City to Mexico, 162 miles. Total leased, 450
miles. Total operated, December 31,1890, 849 miles.
Organization, L eases, Stocks and B onds.—Chartered as the Chicago
& Mississippi February 2 7,1847; reorganized under act of January 21,
1857, as Chicago Alton & St. Louis, and under act of February 16,1861,
the present corporation succeeded to the property, which was sold
under foreclosure in the following year and transferred to new organi­
zation in October, 1862. Fiscal year ends December 31. The annual
meeting is held the first Monday in April.
The Joliet & Chicago is leased from January 1,1864, for the term of
its charter, and forms part of the main line. Rental, 7 per cent on
stock. The Louisiana & Missouri River RR. is leased for 1,000 years.
Rental, 35 per cent of gross earnings, after taxes, &c., have been
deducted from them, but interest guaranteed on second mortgage bonds
and $329,100 preferred stock; other pref. stock is $1,010,000 and com­
mon $2,272,700; rental in 1890, $139,469, against $156,486 in 1889.
The Kansas City St. Louis & Chicago is leased in perpetuity from
November 1,1877, at a rental of 35 per cent of gross earnings—rental
$335,991 in 1889. Its bonds are held by the United States Trust Co. as
security for the Chicago & Alton bonds of 1878 issued to build this
road, and a sinking fund of $60,000 per annum provided for their
redemption. Should the 35 per cent be more than sufficient to pay
interest, quarterly dividends and 7 per cent on the common stock, the
excess is to go to the lessees. Common stock, $271,700, of which $157,600 is owned by the Chicago & Alton. The Mississippi River Bridge is
leased in perpetuity from December 3,1877, at 7 per cent on $300,000
stock (all owned by Chicago & Alton) and 6 per cent on bonds.
The Chicago & Alton preferred stock has prior right to a non-cumula­
tive dividend not exceeding 7 per cent from net earnings and (after
pavment of 7 on common) also shares with common in any surplus.
Dividends since 1876: In 1877, both stocks, 7 *2 ; in 1878, both 7 ; in
1879, preferred 7, common 6 ; in 1880, preferred 7, common 6*2 ; iu
1881, both 8 ; in 1882, both 8 ; in 1883, both 8 ; in 1884, both 10; from
1885 to June, 1891, both inclusive, both 8 (2 per cent quarterly.)
Price of common stock: In 1881, 127@156; in 1882, 127*h® 145*3»
in 1883,128® 137*4 5 in 1884,118® 140*4; in 1 8 8 5,128® 140; in 1886,
138®146; in 1 887,130@155; in 18 8 8,132®140*s; in 1889, 125®140;
in 1 890,123®135; in 1891, to May 22 inclusive, 123@130.
Operations and F inances.—The Chicago & Alton Road has been par­
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
On the Louisiana & Missouri River Divison (100miles), from January
1 to February 28, 1891 (2 months), gross earnings were $58,284,
against $67,412 in 1890.
Fiscal year ends December 31. Annual report for 1890 was in V. 52,
p. 349, and the President’s remarks at length in V. 52, p. 352.
INCOME ACCOUNT.

1890.
1889.
1887.
1888.
Receipts—
$
$
$
$
Net earnings...................................................... 1,025,000
1,706,822 Total gross earnings. 8,941,386
7.065.754
7,516,617
7,511,465
interest and taxes about.......................................
............
1,700,000
2.683.754
2,944,881
2,843,380
—(V. 49, p. 21,113,147, 269, 539; V. 50, p. 138, 243, 377, 390,422, Net earnings...............3,671,183
273,497
273,875
273,252
Other receipts........... 269,239
451, 834; V. 51, p. 144, 274, 829, 910; V. 52, p. 390.)
Chesapeake Ohio & Sou th w estern .—Louisville, Ky., to Mem­
2,957,251
3,218,756
3,116,632
T ota l...................... 3,940,422
phis, Tenn., 392 miles, and branch Elizabethtown to Cecilian Junction,
Disbursements—
4 miles, 398 m iles; of which is leased from Louisville & Nashville their Rentals paid............. 710,608
>
652,411
665,455
669,478
Cecilian branch, 46 miles. Also will operate the Ohio Valley Ry., Prince­ Construe., equip., &c. 657,444
184,271
531,542
159,810
ton to Evansville, Ky., and branches, 110 miles. Successor to the Mem­ Interest on debt........ 831,031
816,161
823,495
825,658
phis Paducah & Northern, which was sold in foreclosure in 1881, and Dividends................... 1,407,644
1,407,560
1,407,712
1,407,608
merged with the Paducah & Elizabethtown. In February, 1886, leased Miscellaneous...........
189,227
106,924
38,059
92,672
-to the Newport News & Mississippi Valley Co. for fifty years, rental to
be interest on bonds if earned, and not to exceed 6 per cent, on stock.
Total disbursem’ts. 3,099,399
3,537,187
3,098.554
3,249,630
In 1891 the stock of the Ohio Valley Railway was purchased, the Ches.
Balance.................. sur. 241,023 df. 420,555 sur. 120,202 def.292,379
Ghlo & Southwestern guaranteeing its bonds. See V. 52, p. 321, 718.
—(V. 49, p. 100, 580; V. 50, p. 295, 3 1 1 , 3 1 5 ; V. 51, p. 171; V. 52,
Stock—Common, $6,030,600, and preferred, $3,696,000 ($164,000 ad­
ditional unissued), of which the Newport News & Mississippi Valley Co. p. 319, 3 3 5 , 3 4 9 , 3 5 2 )
ow ns $5,708,700 common and $3,511,600 preferred. January 1, 1891,
C h ic a g o & A t la n t ic .—S e e CHICAGO & E r i e .




BONDS'.
AND
STOCKS
JßAILKOAD
M a y , 1891.]




INYESTOBS’
SUPPLEMENT.
[Y ol.
l ii.




fid

4

N

Ma

y

, 1 8 9 1 .]

RAILROAD

STOCKS

AND

RONDS.

33

Subscribers w i ll confer a great tavor by g iv in g im m ediate notice o f any error discovered in these Tables.
RAILROADS.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due»
Amount
For explanation o f column headings, &c., see nc tes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Chicago Burlington <6 Quincy—(Concluded.)—
Ch. Burl. & Q. Deb. 5s, 1913 for Han. & St. Jo stk.c’
Nebraska ext., $20,000 p. m. (s. f., not dr’n).c*&i 1,432
Convertible debentures (See remarks)............. .
B’rl.&Mo.RR.inNeb.con.M.l.gr.,s.f.dr’n a t 100.. > 561
Do
do
do
exempt (See remarks)_ s
_
Burl. & Mo. RR. inNeb., s.f. for At.&Neb.RR.st’k ..
_
Quincy Alton & St. L. (leased) 1st mortgage_ c*
46
Repub.Val. R.,lstM.g.,(dr. atlOO) s.f.,$14,000.
90
Contingent liabilities for branch roads: —
Ottawa Oswego & Fox River, 1st mortgage___c
70
Omaha & S. W., 1st mortgage, guaranteed........ o’
49
Nebraska Railway consolidated mort, guar........ c 132
Atch.&Neb.,lstM.,At. to Lin.,Neb.,andbr.,gu. ..c* 148
2d mort. on Atch. & Neb. RR. (1st M. on bridge) 148
Linc’n &N.W .RR.lstM. guar., s.f. 1 p.c,,notdr’n ..
73
Chic. <6 Bast. Illinois—Preferred stock, 6 per cen t..
1st mort. (s. f. $20,000 after 1885, no drawings) c* Ì07
Danville & Grape Creek RE.—1st mortgage__ c*
7
Strawn & Ind State Line bonds, assumed, S/ f . .c*
13
Chicago & East Illinois extension, 1st mort___c*
15
Consol, mortgage,gold (for$>6,000,000) s. f.....c * 208
Collateral trust bonds, sinking fund................. .c*
General consolidated mortgage.........................c&r 277
Chic. & Indiana Coal—1st M. ($25,000 per mile.c* 172
Chic. <6 Brier—1st M. for $12,000,000 g.,m t. guar.e* 249
Income bonds for $10,000,000 non-cumulative .. 249
Terminal 1st mortgage, int. 4 p. c. till July, 1893.

1883
1887
1890
5 1878
(1878
1880
1876
1879

$1,000 $9,000,000
l.OOO&c 27,892,000
100 &c.
7,639,200
6 0 0 &C.
7,894,600
600 &c.
5,000,000
1,000
3,347,000
1,000
840,000
600 &c.
1,078,000

1870
1,000
1871
1,000
1877
1,000
1878 100 &C.
1887
1880
1877
1880
1881
1881
1884
1887
1887
1886
1890
1890
1888

1,076,000
8
669,000
8
349,000
7
1,125,000
7
901,280
6
600,000
7
ib’o 4,830,700
1*2
100 &e.
2,989,000
6
1,000
119,000
6
1,000
150,000
6
1,000
103,000
6
1,000
2,725,000
6 g.
1,000
42,000
6 g.
l.OOO&c 4,197,000
5
1,000
4,402,000
5
1,000 10,637,000 4 to 5 g.
l.OOO&c 10,000,000
5
300,000 4 to 5

C hicago B u rlin g to n Sc N orth ern .—Owns from Oregon, 111.,
to St. Paul, Minn. , 332 miles; Fulton to Savanna, 111., 17 miles; branches
14 miles; total, 363 miles. Completed Aug., 1886. In 1890 $9,068,500
of the $9,289,500 stock (par, $100), was purchased at 40 by Chicago
Burlington & Quincy. (See Y. 50, p. 390.) The Chicago Burlington &
Quincy and Chicago & Iowa give a traffic guarantee for twenty years of
one-half o f their net earnings derived from business to and from the
Chicago Burlington & Northern (to be not less than $100,000 per year)
for the retirement of Chicago Burlington & Northern firsts at 105; and
after March 31,1896, the whole issue may be retired at 105.
From January 1 to March 31, 1891 (3 months), gross earnings were
$483,808, against $462,071 in 1890; net, $185,561, against $170,437.
In 1889 gross earnings were $1,971,159; net, $742,495; deficit under
charges, $126,769. In 1890, gross, $2,115,442; net, $876,855; inter­
est $692,700; rentals, etc., $106,001; surplus, $213. (V. 49, p. 2 3 4 :
V. 50, p. 243,390; V. 51, p. 715 ; Y. 52, p. 641.)
Chicago B u rlin g to n Sc Q u in cy .—(See Map.) - Line of R oad .—
Main line from Chicago, 111., via Burlington, Iowa, and Pacific Junction,
to Denver, 1,028 miles. Also has line in Illinois to East St. Louis and to
Quincy, connecting with the Hannibal & St. J oseph Road (purchased by the
Chicago Burlington & Quincy in 1883), across Missouri to St. Joseph.
The mileage reported Jan. 1, 1891, was 5,216, of which 158 miles
were leased or operated with other companies. In addition to this the
company controls and largely owns the St. Louis Keokuk & North West­
ern road, 218 miles (of which 41 miles are leased or operated jointly
with other companies); the Kansas City St. Joseph & Council Bluffs,
313 miles (3 miles leased or operated jointly with other companies);
the Chicago Burlington & Kansas City, 220 miles (39 miles leased
or operated jointly with other companies); the Chicago Burlington &
Northern, 363 miles, and a half-interest with Wabash in the Humeston
& Shenandoah, 95 miles.
Organization , &c.—This was a consolidation in July, 1875, of the
Chicago Burlington & Quincy in Illinois and the Burlington & Missouri
River in Iowa. In 1880 the Burlington & Missouri m Nebraska was
absorbed. The leased lines are practically owned and there is no charge
for rentals in the income account, except as interest on bonds. The
ownership in the other roads above-mentioned is in the stocks and
bonds thereof, and their accounts are kept separate. In August, 1885,
the agreement was made with the Chicago Burlington & Northern for
the line to St, Paul, but the Chicago Burlington & Quincy owned $3,097,500 only of the stock of that company until March, 1890, when a
controlling interest was purchased. Fiscal year ends December 31.
Annual election in May.
The lands have been mostly sold, but 75,700 acres remaining, and
land notes outstanding, including interest payable, amount to $724,760.
Stocks and B onds.—The stock has been increased for the acquisition
o f new lines, and in 1880 a distribution o f 20 per cent was made.
Dividends—In 1877, 9 per cent; in 1878, 10*s; in 1879, 8 ; in 1880,
9 k cash and 20 stock; from 1881 to 1887 inclusive, 8; in 1888, 5 in
1889, 4; in 1890, 5; in 1891, March 16,1; June 15,1.
Price of stock—In 1881,133*2® 182*2; in 1882,120*2® 141; in 1883,
115%®12938; in 1884, 107® 127%; in 1885, 115*2® 138*2 5 in 1886,
128%® 141; in 1887, 123'*8'®156; in 1888,103%®130*2 5 in 1889, 897s
®111*2: in 1890, 80®111*2; in 1891, to May 22 inclusive, 75%®93%.
Included in the amount of bonds outstanding in the table above are
the following which, with other bonds (the whole representing a
cost of $13,813,935) were on January 1,1891, held alive and drawing
interest for account of the various sinking funds; Chicago Burlington
Sc Quincy 4s of 1881, due 1921, $526,000; Denver extension 4s, due
1922, $879,200; Burlington & Missouri in Nebraska 4s of 1880, $985,000; Republican Valley 6s of 1879, $205,200; Burlington & Missouri
in Nebraska consolidated 6s of 1878, $5,281,200; but only $2,870,200
of this last amountln the sinking fund for the issue itself. January 1,
1891, the sinking fund of the Burlington & Missouri (in Iowa) land grant
7fl of 1863 held sundry bonds costing $8,358,080, and $18,655 cash.
The consolidated mortgage 7s of 1873 are a first mortgage except
for $1,076,000 Ottawa Oswego & Fox River bonds. The Iowa Division
sinking fund bonds are a lien on the main line in Iowa from Burlington
to East Plattsmouth on the Missouri River, 279 miles, and on 16
branches having an aggregate length of 511 miles. The only prior
liens are the Burlington & Missouri River Railroad in Iowa bonds to a
total of $4,192,500. The Chicago Burlington & Quincy Iowa bonds
have a sinking fund of 1*2 per cent ($203,800) yearly, for which the 4s
are subject to call at 100, the 5s at 105. The Denver Extension bonds are
secured by deposit with the trustee of first mortgage 5 per cent bonds
(limited to $20,000 per mile of main track and $10,000 per mile of sec­
ond track) upon about 400 miles ofroad, representing five different
lines, o f which the most important is that from Colorado State line
westerly to Denver, 175 miles. They have a sinking fund of 1 per cent,
for which they are subject to call at 100.
The collateral trust Nebraska extension bonds of 1887 (New England
Trust Co., of Massachusetts, trustee) are issued at $20,000 per mile for
single track and $10,000 per mile additional for second track. See
abstract of mortgage in V. 45, p. 441.
In July, 1890, the 5 per cent debentures were issued. They are con
vertible into stock at any time within twelve years after December 1
1 8 9 a (See Y 50, p. 622.)
Many of the bonds are redeemable (may be drawn) before maturity at
▼arous prices, plus rccrued interest, as stated in the table above. The
Burlington & Missouri in Nebraska 6s, due in 1918, are redeemable at
1 00, but this for the “ exem pt” bonds applies only after 1908.




5
4
5
6
6
4
5
6

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

< N. N. Y,, Bk.of Com.& Bost.
fc
& N.
do
do
& S. Boston Office and N. Y.
& J. Boston, Bk. of Com’rce.
& J.
do
do
& J.
do
do
& A. N. Y., F.L.&T.CO.& Bost.
& J. Boston, Bk. of Com’rce.

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

& J. N.Y., F.L.&T.CO.& Bost.
& D. Boston, Co.’s Office.
& O.
do
do
& S. Boston, Bk. of Com’rce.
& D.
Boston.
& J. Boston, Co.’s Office.
N. Y., Metropol. Tr. Co.
J. & D. N. Y. ,4th Nat.Bk.& Bost.
M. & N. Boston, Globe Nat. Bk.
J. & J. N. Y., Central Trust Co.
J. & D. N. Y., FourthNat. Bank.
A. & O. N. Y., Central Trust Co.
F. & A.
do
do
M. & N.
do
do
J. & J. N. Y., Met. Trust Co.
M. & N.
New York.
Oct. 1.
N. Y.,when earned.
J. & J. N.Y.,Drexel,Morg.& Co.

May
May
Sept,
July
July
Jan.
Feb.
July

1,
1,'
l'
lj
1,
lj
1,
1,

1913:
1927
1903
1918
1918
1910
1896
1918

July 1, 1900
Juñe l", 1896
Oct. 1, 1896
Mch. 1, 1908
Dec. 1, 192T
Jan. 1. 1910
April 1,1891
Dec. 1, 1907
May l j 1920
Oct. 1, 1921
Dec. 1, 1931
Oct. 1, 1934
Feb. 1, 1912
Nov. 1, 1937
Jan. l ’ 1936
May 1, 1982
Oct. 1, 1982
July, 1918

O p e r a t i o n s a n d F i n a n c e s .— The Chicago Burlington & Quincy R R .
has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. The company for many years paid 10 per cent, then 8 per cent,
and since 1887 smaller dividends, owing to the increased competition
and lower rates and the extension of roads in the far West.
Since January, 1890, the C. B. & Q. has included in its gross and net
monthly earnings the returns o f auxiliary lines, which previously
appeared in its income account only under “ other income,” interest
received, etc.
From January 1 to March 31, 1891 (3 months), gross earnings,,
including lines controlled, were $7,057,013, against $8,467,566 in
1890; net, $2,123,810, against $3,015,566; deficit under charges, $252,189, against surplus of $t>95,000 in 1890. (See V. 52, p. 657.)
The annual report for 1890 was published at much length in th »
C h r o n i c l e , V. 52, p. 569-572. Comparative statistics for four year»,
are as follow s:
1887.
1888.
1889.
1890.
Miles owned & leased. 4,571
4,757
4,969
5,059
Miles operated jointly
122
160
171
157

Total operated....

4,693

4,917

5,140

5,216

OPERATIONS AND FISCAL RESULTS.

Operations—
1887.
1888.
1889.
1890.
................................
268,778,494 292,535,186:
Paag’rs car.onem*.
Tons car. one mile........................................ 1,752,248,595 1,978,896,694
Earnings—
$
$
$
$
Passenger..... ......... 6,629,859 6,146,121
6,223,510
6,369,646Freight................... 18,675,655 15,484,035
18,190,818
18,843,104
Mail, express, &c... 2,270,564 2,159,011
2,363,985
2,513,217"
Total gross earns... 27,576,078 23,789,167
Oper. exp. & taxes..16,097,913 18,882,460

26,778,313
17,690,547

27,725,96T
18,749,699*

Net earnings......... 11,478,165 4,906,707
P. c., op. ex. to earn.
58-38
79'37

9,087,766
66 06

8,976,268
67-62:

* Not including those carried on mileage or season tickets.
INCOME ACCOUNT.

1887.
1888.
Receipts—
$
$
Net earnings..........11,478,165 4,906,707
Interest & exch’ge.
859,055
169,601
NetB. &M. land gr.
567,083
408,555
Total income..........12,904,303 5,484,863
Disbursements—
Rentals paid............
198,168
193,709
Interest on debt.... 4,587,762 5,111,527
Dividends............... 6,111,064 3,819,578
Rate of dividend....
8
5
Carried to sink’g f’d.
500,154
691,474
Car. to renewal f d ..

1889.

1890.

9,087,766
672,863
291,443

8,976,268
806,035178,455-

10,052,072

9,960,758

192,119
5,425,611
3,055,704
4
744,472

206,078
5,491,992
3,819,630
5
745,492:

Total disb’sem’ts.11,397,148 9,816,288
9,417,906
10,263,192:
Balance, surplus... 1,507,155df.4,331,425 sur.634,166 def. 302,434
—(V. 50, p. 4 6 7 , 4 8 0 , 482, 4 8 5 , 622, 703, 875; V. 51, p. 20,142, 276»
909; V. 52, p. 126, 204, 296, 321, 549, 5 6 9 , 5 7 2 , 574, 643, 657.)
C h ic a g o Sc E a s te r n I l l i n o i s . —(See Map.)—Owns from Dolton,.
HI., to Danville, 111., 107 miles; second main track, Dolton to Momence,
33 miles; Danville to Tuscola, 50 miles; Momenee to Indiana State l i n o
yunction with the Chicago & Indiana Coal), 11 miles; Wellington.
Junction to Cissna Park, 11 miles. Proprietary lines—Chicago & In­
diana Coal Railway, Brazil to La Crosse, Ind., 145 miles, and branches,
26 miles. Leases Evansville Terre Haute & Chicago Railroad, Danville,
111., to Otter Creek Junction, Ind., 49 miles; Indiana Block Coal Rail­
road, Otter Creek Junction to Brazil, Ind., 13 miles. Trackage—OtterCreek Junction to Terre Haute, Ind.. (Ev. & T. H.) 6 miles; Dolton t o
Chicago (C. & W. I.), 17 miles. Total operated, (including 33 m ile»
second main track) 468 miles.
In January, 1890, a ten-year traffic contract was made with th o
Evansville & Terre Haute for the operation of a through line between
Chicago and Evansville.
The Chicago & East Illinois was chartered as Chicago Danville S
c.
Vincennes in 1 8 6 5 , and opened in 1 8 7 2 and 1 8 7 3 . Sold under fore­
closure February 7 , 1 8 7 7 , and reorganized under existing title Septem­
ber 1 , 1 8 7 7 . In February, 1 8 8 9 , made an exchange of stock with the
Chicago & Indiana Coal Railway, whose stock is now held as an asset in
the company’s treasury. See C h r o n i c l e , V. 4 6 , p . 1 3 4 , V. 4 8 , p . 3 3 4 ,
for status as given in applications to the Stock Exchange.
Under the terms of leases the Chicago & East Illinois guarantee»
interest on $1,400,000 bonds of leased roads. There are also $64,000*
second mortgage incomes, due 1907, outstanding. Owns oonirol o t
Evansville Terre Haute & Chicago Railroad.
The general consolidated mortgage of 1887 (trustee, Central Trust
Company) provides for the retirement of $8,000,000 prior bonds and
for issue of bonds on new road at. $18,000 per mile for single track,
$7,000 per mile additional for equipment and $8,000 per mile for double
track.

3 4




INVESTORS’

SUPPLEMENT.

htol. l i i . ’

Ma y ,

1891.1

KAILKOAD

STOCKS

AND

35

BONDS,

Subscribers w i ll confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tbese T a bles.
Bonds—Princi­
RAILROADS..
INTEREST OF DIVIDENDS.
Miles Date •
Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable , and by Stocks—Last
Cent. Payable
Road. Bonds Value.
on first page of tables.
Whom.
Dividend.
Chicago A Grand Trunk—Northwest Gr.T’nk.,lstM
66 1880 $500&c.
1st mortgage for $6,000,000.................................... 327 1880 £100 &c
2d mortgage, $ and £ ......................................... c&r 327 1882
1,000
•Chicago Milwaukee <t St. Paul—Common stock.......
100
Preferred stock (7 per cent veatlv, not cumulative
100
Mil. & St. Paul, Milwaukee & Western 1st M .. .c*
31 1861
1,000
Lacrosse Div. 1st M., convert, into pf. stock, .c* 392 1863
1,000
Minnesota Central 1st M. (Minneap. to Owat.). c*
49 1864
1,000
Iowa & Minn. 1st M. convert, into pf. stock..c* 230 1867
1,000
Prairie du Chien 1st M. (Mil. to Pr. du Chien). c* 195 1868
1,000
2d mortgage, convertible into pref. stock ..c* 195 1868
1,000
Iowa & Dakota IstM ., conv. into pref. stock. .*c 126 1869
1,000
River Div. (St.P.&C.) IstM . conv. intopf. stk.c* 130 1872 $ & £
•Chic. & Mil. 1st mort. (conv. into pref. stock). .c*
85 1873
1,000
•Ch. Mil. & St. P. consol. M., conv. intopf. stock.c* 1,435 1875
1,000
I.&D.Ext. IstM. ($15,000p.m.) con.into pf.st’k . c* 234 1878
1,000
S. W. Div. 1st mortgage Western Union RR ..c* 212 1879
1,000
Lacrosse & Dav. Div. 1st mortgage... : ..........c* 185 1879
1,000
Wisconsin Valley RR. Co. 1st mortgage......... c* 107 1879
500
Wis. Val. D iv.ist M. of 1880, s. f., not dr’n.c* 161 1880
1,000
So. Minnesota Div. 1st mortgage..................... c* 419 1880
1,000
Mineral Point Division 1st mortgage.............. c* 142 1880
1,000
Hast. & Dak. Div.,extens. IstM. ($15,000p.m.)c* 395 1880-6 1,000
Dub. Div.(Ch. Cl. D.&M.) IstM ., s. f., not dr’n.c* 372 1880
1,000
Chic. & Pàc. Div. 1st M. (Chic, to Miss. R iv). .c* 120 1880
1,000
Western Division 1st M., g., $20,000 per m.c* 1,267 1881
1,000
■Chic. & Lake Superior Div. 1st mort., gold .. .c*
1,000
68 1881
Wis. & Minn. Div. 1st M. ($20,000 p. m.) g old ... 230 1881
1,000
Fargo & Southern 1st mort., gold, assumed....... 119 1883
1,000

Chicago & Indiana Coal first mortgage of 1886 (trustees, Metropolitan
'Trust Company and R. B. F. Pierce) is for $1,000,000 on road from
Yeddo to Brazil and $25,000 per mile ($7,000 of this for equipment)
•for extensions; second track, $8,000 per mile.
Common stock is $6,197,800; par, $100.
Dividends since 1881—On common, in 1882, 3 per cen t; in 1886, 5 ;
in 1887, 6; none since. On new preferred in 1888, 7% ; in 1889, 6; in
1890, on December 22,6 in preferred stock. (See Y. 51, p. 715); in 1891
o n April 1, IPs in cash.
Fiscal year ends June 30. Report for 1889-90 was in Chronicle, V.
51, p. 568. In the following the figures for 1888-89 and 1889-90 are
fo r the years ending June 30; those for 1890-91 for year ending March 31,
•these latter being from an official statement to the N.Y. Stock Exchange.
INCOME ACCOUNT, &C.

1888-89.
T ota l gross earnings..................$2,719,932
-Operating expenses & ta x es.... 1,724,547

1889-90.
$2,911,723
1,731,369

1890-91.'
$3,463,126
1,794,232

Net earnings.................
$995,385
$1,180,354
Net income (including other
incom e).....................................$1,000,398
$1,212,346
Deduct—
Interest........................................ $724,550
$771,514
222,118
200,061
JJentals.......................................
Dividend on pref. stock (6 p. c.).
267,912 (3%) 133,956

$1,668,894
(1)
$766,175
199,219
(i)

Total.......................................$1,214,580
$1,105,531
$965,394
Balance................ ............. .. .def. $214,182 sur.$106,815 sur.$703,500
George W. Saul, President, Chicago.—(V. 50, p. 174, 205, 735, 800;
Y .51, p. 171, 5 6 8 , 680. 715; Y. 52, p. 680,762, 795.)
Chicago & E rie .—Owns from Marion, Ohio, to Hammond, Ind.,
'249 miles, and leases trackage over Chicago & Western Indiana to
■Chicago, 19 miles. Connecting line for the New York Lake Erie &
Western and the New York Pennsylvania & Ohio to Chicago.
This company is a reorganization of the Chicago & Atlantic, which
defaulted on interest November 1, 1884, and was sold in foreclosure
August 12,1890. The New York Lake Erie & Western owns the entire
stock of $100,000 and guarantees the interest of the first mortgage
bonds. See reorganization plan in V. 44, p. 369.
The first mortgage (trustees Central Trust Co. of New York and Ed­
ward Daniels) bears 4 per cent interest till May 1,1892, then 5 per
•cent to maturity. This interest is guaranteed by Erie, as said above.
Both the first and the income mortgages cover 249 miles of road, the
contract with the Chicago & Western Indiana, $1,000,000 of that com­
pany’ s stock and $240,000 stock of the Chicago Belt Railway. Of the
-$12,000,000 first mortgage bonds authorized, $2,000,000 were reserved
for betterments and .equipment. See full abstracts of mortgages in V.
51, p. 911 to 913. Due for equipment May 1,1891, $416,384, payable
:$18,927 quarterly.
A certain percentage of the gross earnings is each year to be applied,
first, to payment of interest on the first mortgage bonds, second to pay­
ment of any advances (with interest thereon at 5 per cent) by Erie,
•thirdly to the payment of interest on the incomes. If the gross earn­
ings in any year amount to $2,250,000 or less, then this percentage is
to be 22% per cent; if to more than $2,250,000 and less than $2,750,000,
"then 25 per cent; if to $2,750,000 or more, and less than $3,250,000,
then 27*2 per cent; if to $3,250,000 or more, then 29 per cent.
From January 1 to March 31,1891 (3 months), gross earnings were
: $607,624, against $672,080 in 1890.
Inyearending June 30,1890, gross earnings were $2,710,276; net,
$719,499: rentals, &c., paid, $185,127. (Y. 51, p. 185, 205, 405, 751,
829, 830, 909, 913; V. 52, p. 428,498.)
C hicago & G rand T ru n k .—Owns from Port Huron, Mich., to
.Elsdon, 327 miles; also uses 4 miles of Chicago & Western Indiana and
4 miles Grand Trunk Junction Railroad; total operated, 335 miles.
’.Stock, $6,600,000 in $100 shares. Controlled by the Grand Trunk of
■■Canada, which gives a traffic guarantee of 30 per cent of gross earnings.
From January 1 to March 31 in 1891 (3 months), gross earnings were
.£194,100, against £186,066 in 1890; net, £47,243, against £42,728.
Tn 1890, gross earnings, £771,264; net, £183,985; surplus over charges,
. £22,525, against £25,286 in 1888.
Chicago M ilw a u k e e & St. P a u l.—(See Map.)—L ine of R oad .
— The company operates a great consolidated system of railroads in
■Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well shown
•on the accompanying map. The main through lines are from Chicago to
Milwaukee, 85 miles; Milwaukee to St. Paul & Minneapolis,via La Crosse,
.341 m iles; Milwaukee to Prairie du Chien, 194 m iles; McGregor (oppo­
site Prairie du Chien) to Chamberlin, Dak., on the Missouri River, 442
■miles; Chicago, via Savanna, on the Mississippi River, to Council Bluffs,
Iowa, 487 m iles; Marion, Iowa (near Cedar Rapids), to Kansas City,
■305 m iles; Minneapolis to Aberdeen, Dak., 288 miles. On June 30,
1890, the mileage m Illinois was 3 18; in Wisconsin, 1,310; in Iowa,
1,553 ; in Minnesota, 1,120; in Missouri, 140; in North Dakota, 118;
■in South Dakota, 1,097; trackage, 45. Total miles operated, June 30,
1890, 5,702. Since acquired, 41 miles; under construction, 29 miles.
In September, 189®, acquired by exchange of stock the Milwaukee &
Northern, that company owning from Schwartzburg, Wis., to Champion,
Mich., 254 miles, and having with branches a total completed mileage
o f 362 m iles; 84 miles more being under under construction or projected.




$558,000
5,442,000
6,000,000
46,027,261
22,198,900
215,000
4,623,000
123,000
3,198,000
3,674,000
1,239,000
541,000
3,804,500
2,393,000
11,486,000
3,505,000
4,000,000
2,500,000
1,106,500
2,391,000
7,432,000
2,840,000
6,670,000
6,565,000
3,000,000
25,340,000
1,360,000
4,755,000
1,250,000

6
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J. N. Y., Office, 42 Wall St.
do
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Jan. 1, 1910
Jan. 1, 1900
Jan. , 1922
Apr. 23,1888
April 16, 1891
July 1, 1891
Jan. 1, 1893
July 1, 1894
July 1, 1897
Feb. 1, 1898
Feb. 1, 1898
July 1, 1899
Jan. 1, 1902
Jan. 1, 1903
July 1, 1905
July 1, 1908
July 1, 1909
July 1, 1919
Jan. 1, 1909
July 1, 1920
Jan. 1, 1910
July 1, 1910
Jan. 1, 1910
July 1, 1920
Jan. 1, 1910
Jan. 1, 1921
July 1, 1921
July 1, 1921
Jan. 1, 1924

Organization, &c.—The Milwaukee & St. Paul RR. Co. was organized
May 5,1863, and on Feb. 11,1874, took its present name. The fiscal
year ends June 30. The annual meeting is held in September.
Stocks and B onds.—The preferred stock has a prior right over the
common stock to a dividend of not over 7 per cent from net earnings in
each year, but if not earned it has no cumulative right. If a dividend
was earned in any year and not paid, there might be a claim on future
years for such dividend. After payment of 7 per cent on preferred
and 7 on common, both classes share pro rata. Common stock author­
ized, $47,062,560.
Dividends since 1873—On common in 1879, 2*2 per cen t; from 1880
to 1884, inclusive, 7 ; in 1885, 4 ; in 1886 and 1887, 5 ; in 1888, 2% ; in
1889 and since, nil. On preferred in 1874, 7 in consolidated bonds; in
1875, n il; in 1876, 3*2 cash and 14 per cent in bonds; in 1877, 3*2; in
1878,10% ; from J.879 to 1887 inclusive, 7 ; in 1888,6; in 1889,4% ; in
1890, April 16, 3*2 per cent; Oct. 22, 3%; in 1891, April 16, 3*2.
Price of common stock—In 1880, 66%®1143 ; in 1 8 8 1,101%®129%;
4
in 1882, 96%®128%; in 1883, 91%® 108%; in 1884, 58%®94%; in
1885, 64% ®99; in 1886, 825s®99; in 1887, 695s®95 ; in 1888, 59%®
7 8 : in 1889, 60%®75%; in 1890, 44®795s; in 1891, to May 22,
inclusive,
Price of preferred stock—In 1880,99®124% ; in 1881,116%® 140; in
1882, 114® 144%; in 1883,115® 122%; in 1884, 9578® 1 1 9 ; in 1885,
102® 125- in 1886, 116®125%; in 1 887,110®127% ; in 1888,98%®
117; in 1889, 97® 118; in 1890, 99%®123%; in 1891, to May 22,
inclusive, 105%®115%. Of the bonds given in the table above as out­
standing, $2,825,000were heldinthecompany’ streasury on Jan.10,1891.
An abstract of the terms of some of the principal mortgages was pub­
lished in the Chronicle, V. 45, pp. 85,114,144, 212, ana V. 48, p. 830.
Of the consolidated mortgage bonds of 1875, enough was reserved to
take up the prior bonds; these bonds may be stamped and discharged
from the sinking fund provisions. The St. Paul & Chicago, the Chicago
& Milwaukee, the consolidated, the Lacrosse Division, the Iowa &
Dakota, the Iowa & Dakota Extension, the Prairie du Chien 2ds, and
the Iowa & Minnesota Division bonds are convertible into preferred
stock. The terminal bonds issued in 1884 are secured by mortgage on
the terminal property in Chicago and Milwaukee, subject to the lien of
the general mortgage on part of the track and terminals; but it covers
also other property quite detached. The income bonds of 1886 are con­
vertible info common stock, on notice, 60 days after any dividend day.
They have a sinking fund of 4 per cent, and may be drawn at 105. They
are secured by mortgage, subject to prior liens, on road from Chicago to
Kansas City, about 525 miles. In addition to above bonds there are
$89,000Hastings &Dakota7s, due Jan., 1903, convertible into pref. stock;
also $275,000 5 per cent real estate mortgages due in 1890 and 1894.
The general gold mortgage of 1889 for $150,000,000 was fully de­
scribed in the Chronicle, V. 48, p. 830; see also V. 50, p. 205. The
bonds bear interest not exceeding 5 per cent. The United States Trust
Co. of New York is trustee.
Operations, F inances, &c.—The mileage and also the stock and debt
of this company increased very rapidly after 1879, the miles owned
being only 2,359 on January 1,1880, and the stock and bonded debt, in
round figures, $69,000,000 on same date.
From July 1,1890, to March 31,1891 (9 mos.), gross earnings were
§21,153,503, against $20,456,612 in 1889-90 ; net, $7,314,509, against
$7,561,944. Mileage, 5,703 miles, against 5,678 in 1889-90.
For the six months ending December 31, 1890, gross earnings were
$15,196,420; net, $5,629,899; total net income, $5,652,219; fixed
charges, $3,618,423; dividends 3% per cent on preferred, $764,396;
surplus, $1,269,399.
Fiscal year ends June 30. The annual report for 1889-90 was in V.
51, p. 381, 384.
OPERATIONS.

1888-89.
1887-88.
1889-90.
Miles operated June 30.
5,723
5,717
5,702
Operations—
Passengers carried..........
6,730,065
7,888,332
7,505,946
Passen. carried one mile. 244,302,662
258,067,706
256,389,345
Rate per passen. per mile
2'445 cts.
2-418 cts.
2-333 cts.
Freight (tons) carried___
7,675,934
7,769,875
9,292,999
Freight (tons) car. 1 mile. 1,660,089,864 1,620,923,961 1,842,789,845
Rate per ton per mile.......
1-020 cts.
0-995 cts.
1-Ó59 cts.
EARNINGS AND EXPENSES.

1887-88.
$
5,973,449
16,933,042
1,820,251

1888-89.
§
6,241,091
17,163,721
2,017,747

1889-90.
$
5,981,639
18,337,009
2,087,059

Total earnings............
Expenses for—
Maintenance of w a y .. . . .
Maint. cars and engines .
Transportation................
T a x e s ..............................
Miscellaneous...................

24,726,742

25,422,559

26,405,707

2,711,306
2,579,498
10,217,262
808,313
157,937

3,121,841
2,502,118
9,943,493
803,517
177,415

3,119,714
2,639,849
10,388,382
830,046
195,106

Total expenses..........
Net earnings.....................
Per ct. of op. exp, to earns

16,474,316
8,252,426
6663

16,548,384
8,874,175
65-09

17,173,097
9,232,610
65*04J

Earnings from—
Passengers........ . .............
Freight..............................
Mail, express, &c...........




EAILROAD

M a y , 1891.]

STOCKS

AND

BONDS,

37

Subscribers w i l l confer a great fa v or by g iv in g im m ediate notice o f a n y error discovered in these T a bles.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Stocks—Last
of
Par
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
<7hicago Milwaukee & St. Paul—( Concluded.)—
1885
Fargo & Southern income bonds.............................
1884 $1,000
Terminalmortgage, gold..................................... c*
1,000
Dakota & Gt. Souih’n lstM . g. ($18,000 per mile.). 159 1886
1,000
Chic. & Mo. Riv. Div. lstm ort. ($20,000p. m.)..c* 154 1886
1,000
Inc. M., convert., s.f. $80,000 yearly (dr. at 105) o* 525 1886
1889 lOOO&c.
Gen. mort., gold (for $150,000,000) Series A.c*&r
1,000
Mil. «feNorthem—lstm ort. Schwarz, to Gr. Bay.c* 126 1880
1,000
Cons. M. ($17,000 p.m.), 1st north of Gr. Bay.c* 362 1884
1,000
10 1886
< hie. < North Pac —Ch. & Gt. West.lst M.g.int.gu.c*
7
&
1,000
1890
Consol, mort. for $30,000,000, gold, int. guar.c*&r
100
Chicago e Northwestern—Common stock................. 4,250
fi
100
Preferred stock (7 p. c. yearly, not cumulative).. 4,250
1,000
74 1863
Peninsular RR. 1st mortgage on road and lands.
1,000
Chic. & N. W. consol, sink.fund, mort., not drawn. 776 1865
85 1863
1,000
Chic.& MiLlst mortgage, Chicago to Milwaukee
70 1861 500 «fee.
Cedar Rapids & Missouri River 1st mortgage...
58 1863 500 &C.
1st M. 2d Div., Marshallt’n to Des M. Riv., &o.
1st mort. 3d Div.. Des. M. River to Mo. River 146 1866 500 &c.
Mort. of 1884, 2d M. Ced. R. to Des M. River.. 126 1884
1,000
69 1870
Iowa Midland 1st mort., Lyons to Anamosa—
Madison extens.lst M., g. (s.f. $23,000, not dr’n) 129 1871 500 &c.
Menominee ext.lstM ., g. (s. f. $20,000,not dr’n) 120 1871 500 «fee.
62 1872 500 &c.
Northwest. Union lstM.,g.,Mil.to Fond-du-Lac.
Chic. & N. W. general consol. M., g., s. f., not dr’n 1,058 1872 500 &c.
35 ’76-’ 80
Menominee River 1st mortgage, two series........
1,000
81 1880
Mil. & Mad. 1st mortgage, Milwaukee to Madison
i 1880
Chicago & Tomah 1st mortgage...................... )
Chicago Milwaukee & N. W. construction bonds) IDu < 1882
1,000
36 1881
Escanaba & Lake Superior RR. 1st mortgage—

$200,000
4,773,000
2,856,000
3,083,000
1,840,000
8,851,000
2,155,000
4,003,000
399,000
19,350,000
31,377,345
22,333,170
132,000
12,768,000
1,700,000
700,000
582,000
2,332,000
769,000
1,350,000
2,977,500
2,546,500
3,365,000
12,336,000
560,000
1,600,000
1,528,000
601,000
720,000

6
5 g.
5 g.
5
5
i g*
6
6
5 g5 g.
3
1%
7
7
7
7
7
7
7
8
7 g.
7 g.
7 g.
7 g.
7
6
6
6
6

A. & O. N. Y., Office, 42 Wall St.
do
J. & J.
do
do
J. & J.
do
do
do
J. & J.
do
do
J, & J.
J. & J.
do
do
J. & D.
do
do
do
J. & D.
do
J. & D. N. Y., Office, 36 Wall St.
A. & O. N.Y.,London,Berlin,«fec.
J. & D. JN.Y.,CO/S Office,52 Wall
Q .-M .
do
do
do
M. & S.
do
do
Q .-F .
do
do
J. & J.
do
F. < A.
&
do
do
do
F. & A.
do
do
M. & N.
do
do
J. < D.
fe
do
do
A. & 0.
do
do
A. & O.
do
do
do
J. & D.
do
M. & S.
do
do
do
J. «fe D.
do
do
J. < J.
fc
do
M. «fe S.
do
do
do
M. «fe N.
do
M. «fe N.
do
do
do
J. < J.
fc

April, 1895.
July 1, 1914
Jan. 1, 1916
July 1, 1926
Jan. 1, 1916
May 1, 1989
June 1, 1910
June 1, 1913
June 1, 1936
April 1, 1940
Dec. 23, 1890
Mch.24, 1891
Sept. 1, 1898
Feb. 1, 1915
July 1, 1898
Aug. 1, 1891
Aug. 1, 1894
May 1, 1916
June 1, 1909
Oct. 1, 1900
Apr. 1, 1911
June 1, 1911
June 1, 1917
Deo. 1, 1902
July 1, 1906
Sept. 1, 1905
Nov. 1, 1905
Nov. 1, 1905
July 1, 1901

The fiscal year ends May 31. The annual meeting is held early in June.
Stocks and B onds.—Of the common stock, $10,007,520 was held in
1889-90.
the company’s treasury on May 31, 1890, making total common
Receipts—
$
,Net earnings.....................
9,232,610 stock $41,387,150. Preferred stock has a prior right to 7 per cen t; then
220,025 common 7 per cen t; then preferred 3 per cen t; then common 3 per cent;
Other income.....................
then both classes share.
Dividends since 1875 have been—On common stock in 1878 and
Total net in com e..___
8,525,490
9,099,953
9,452,635
1879, 5 per cent; in 1880 and 1881, 6 ; from 1882 to 1884, inclusive,
Disbursements—
Interest on debt....................
6,573,599
7,054,471
7,214,155 7 ; in 1885, 6 *2 ; in 1886 and since at rate of 6 per cent yearly. On pre­
D ividends..............................
3,460,920
972,490
1,296,828 ferred in 1876, 2*2 per cen t; in 1877, 3*2 ; from 1878 to 1881, inclusive,
Rate of dividends............. 7 on pf.; 5 on com. 4% on pref.
6 onpref. 7 ; in 1882, 7% ; in 1883 and 1884, 8 ; in 1885, 7*2 ; in 1886 and since
at rate of 7 per cent yearly.
Price of common stock—In 1880, 87%®130; in 1881, 117® 136; in
Total disbursements..
10,034,519
8,026,961
8,510,983
Balance*............................ def. 1,509,029 sur. 1,072,992
sur. 941,652 1882, 124® 150%; in 1883, 115%®140%; in 1884, 81*2® 124; in 1885,
843s® 115%; in 1886, 104%®1205s; in 1887, 104%® 1275s; in 1888,
* The amount at credit of income June 30,1889, was $1,538,682; add 10258®116; in 1 8 8 9,102%®11478; m 1890, 98® 117; in 1891, to May
8®
$941,652=$2,480,334; charged off in 1889-90 (old accounts) $60,819, 22, inclusive, 1021 111^.
Price of preferred stock—In 1880,104® 1461 ; in 1881,131%® 147%
2
leaving balance June 30,1890, $2,419,515.
in 1882, 136®175; in 1883, 134® 157; in 1884, 117® 149%; in 1885,
GENERAL BALANCE JUNE 30.
119%®13978; in 1886, 135®144; in 1887, 138®145%; in 1888,136%
®146; in 1889, 135®144%; in 1890, 134® 148; in 1891, to May 22,
1889.
1890.
1888.
inclusive, 130® 138%.
Assets_
$
$
$
185,631,301
The sinking fund bonds of 1879 are secured by a deposit of mortgage
183,889,871
Road and equipment........ 179,227,016
1,197,965
1,233,388 bonds on the new roads acquired at the rate of $15,000 per mile, and
Bonds and stocks owned.
3,780,106
195,254
214,957 the terms under which these are issued were published in V. 29, p. 277.
553,367
Due from agents, &c........
316,003
247,858 $6,305,000 of them are 6s, and the sinking fund is at least 1 per cent of
Due from XL 8. Governm’t
248,327
2,407,369 outstanding bonds, the bonds being drawn at 105. There are several
1,932,491
2,764,415
Materials and fuel.............
2,178,000 small issues of bonds in addition to those in the table above, viz.: Min­
738,000
Bonds of comp’y on hand.
........ .
2,961,930 nesota Valley Railroad, $150,000 7s (April and October), due October 1,
2,936,609
Cash.....................................
1,095,333
1,358,812
1,449,498 1908; Plainview, $100,000 7s (March & September), due September 1,
Miscellaneous. . . , ..............
21,200
1908; Chicago Iowa & Nebraska, $129,000 first mortgage 7s (February
196,324,301 and August), due August 15,1892; also $1,417,500 liv e bonds in the
192,565,005
Total assets.................. 187,689,764
sinking funds, May 31,1890.
Liabilities—
The sinking fund debentures of 1933 were issued to pay for the Chi­
39,868,961
39,868,961
Stock, common..............
39,680,361
21,839,900 cago St. Paul Minneapolis & Omaha stock; the sinking fund for these
21,610,900
Stock, preferred.................
21,610,900
125,693,000 bonds is $200,000 per year from May, 1888, if they can be redeemed at
123,765,000
Funded debt..................... 118,989,000
2,183,076
2,880,278 105.
Pay-rolls, vouchers, & c...
3,154,322
3,529,492
In June, 1884, $6,000,000 5 per cent debentures and in 1891 $10,3,478,497
Interest accrued, not due.
3,451,602
93,156 000,000 similar debentures were authorized; any future mortgage on
119,889
Miscellaneous.....................
103,761
2,419,514 the property of the company, excepting any mortgage “ for the en­
1,538,682
Income account................
699,818
largement, improvement or extension of the company’s property”
Total liabilities............ 187,689,764
192,565,005
196,324,301 shall include these debentures.
Northwestern extension bonds of 1886
- ( V . 49, p. 269, 341, 403, 5 7 7 , 5 8 1 , 599; Y. 50, p. 205, 391; Y. 51, p. ofThe Chicago && Northwestern Company, secured by are direct bonds
the Chicago
the deposit in
240, 343, 3 8 1 , 3 8 3 , 3 8 4 , 416, 570; V. 52, p. 41, 427.)
trust of the first mortgage bonds of roads constructed or acquired, at a
C hicago & N orthern P acific.—This company was organized in rate not exceeding $20,000 per mile. The mortgage is for $20,000,000,
1890 in the interest of the Northern Pacific Railroad to acquire the im­ and the Union Trust Company of New York is trustee.
The Fremont Elkhorn & Missouri Valley bonds have a first lien on
portant terminal property at Chicago owned by the Chicago & Great
Western, &c. The Chicago & Calumet Terminal Railway, extending 1,106 miles (Fremont, Neb., to Whitewood, D. T., 547 miles, and
from Hammond, Ind., via Blue Island and Worth to La Grange, 50 miles branches to Hastings, Albion, «fee., 559 miles), but besides the amount
of track in all, crossing 26 lines of railroad entering Chicago, has of issue given as outstanding in the table $8,975,000 are held as collat­
also been acquired, but on terms not yet made public. Leased to eral for Chicago & Northwestern extension bonds of 1886. The North­
Wisconsin Central for 99 years, and lease assumed by Northern Pacific, western assumed $3,600,000 of the Fremont Elkhorn & Missouri Valley
rental not to be less than $350,000 per annum, payable in gold, and in bonds and guarantees the remainder.
addition such sums as may be needed to pay mterest on bonds, taxes
L and Grant.—The lands of the company have been acquired by the
and organization expenses. Bee abstract of lease in V. 52, p. 468.
fc
There is a purchase money mortgage to the City of Chicago for $650,- purchase of the Winona < St. Peter and other roads that have been con­
solidated. The Commissioner’s report for 1889-90 showed that the total
000, bearing 5 per cent and due May 1,1938. The consolidated mort­
gage (trustee, Farmers’ Loan & Trust Company) is for $30,000,000; see consideration for the lands and lots sold in that year amounted to $464,abstract V. 52, p. 465. Stock is $30,000,000; par, $100. (Y. 50, p. 662, 999. Net cash receipts were $383,707. The statement of amounts
secured to be paid to the company by outstanding contracts of sale in
735, 7 70; V. 52, p. 427, 428, 465.)
force at the end of the fiscal year showed a total of $1,032,893. The
Chicago & N orth w estern .—(See Map)—Line ôf R oad—The lands yet unsold and uncontracted for on May 31,1890, were 914,613
Chicago & Northwestern operates 4,250 miles of its own roads and con­ acres.
trols Chicago St. Paul Minneapolis and Omaha, 1,394 miles; Fremont
Operations, F inances, &c.—The Chicago < Northwestern Railway
fe
Elkhorn < Missouri Valley, 1,106 miles; Wyoming Central, 130 miles,
fe
and Sioux City & Pacific, 107 miles; total controlled, 6,987 miles. The has pursued the policy of extending rapidly its lines in the Far West.
From June 1,1890, to April 30,1891 (10 months), gross earnings on
main line from Chicago to East Omaha, la., is 492 miles, and this forms
ractically the Southern boundary of the whole system. On May 31, 4,258 miles were $25,743,008, against $24,865,183, on 4,250 miles
890, the mileage of the Chicago < Northwestern properwas made up in 1889-90.
fe
For the calendar year 1890 gross earnings on 4,258 miles were $28-,
as follows: Wisconsin Division, 549 miles ; Galena Division, 406
miles ; Iowa Division, 618 miles ; Northern Iowa Division, 546 170,026, against $26,185,281 on 4,250 miles in 1889; net, $9,699,827,
miles; Madison Division, 509 miles; Peninsula Division, 449 miles; against $9,877,571; surplus over charges and 6 per cent dividends on
Winona < St. Peter Division, 448 miles; Dakota Division, 724 miles; common stock, $616,897, against $685,570. See article in V. 52, p. 219.
fc
Fiscal year ends May 31. The President’s report for 1889-90 was
total, 4,250 miles. The Sioux City & Pacific and Fremont Elkhorn &
Missouri Valley (including Wyommg Central) are operated separately published in full in the Chronicle, V. 51, p. 141. The surplus o f the
<1,344 miles), and their earnings not included in those of Chicago < year 1889-90 from operations was as follows: From the Chicago &
fc
Northwestern, but separately stated in the annual reports in the Chron­ Northwestern Railway, $625,986; from the Trans-Missouri lines, $112,456j from the land department, $383,707; total, *$1,122,150, available
icle on p. 144 of V. 49 and p. 141 of V. 51.
In December, 1890, the Fremont Elkhorn < Missouri Valley was com­ for improvements, «fee.
fe
The following statistics are for the Chicago & Northwestern proper;
pleted to Deadwood, S. D.
the statistics of the Trans-Missouri lines are given in the Chronicle, V.
Organization , &c.—The Chicago & Northwestern Railway was organ­ 51, p. 142.
ized in 1859. The company has smce absorbed by consolidation a large
ROAD AND EQUIPMENT.
number o f other roads.
In December, 1882, a controlling interest was acquired in the stock of
1886-87.
1887-88.
1888-89.
1889-90.
the Chicago St. Paul Minneapolis & Omaha Co. by the purchase of Tot. miles oper’d
4,101
4,211
4,250
4,250
53,800 shares of preferred and 93,200 shares of common stock.
OPERATIONS AND FISCAL RESULTS.
In July, 1 8 8 4 , tbe leased lines in Iowa (Blair roads) were acquired on
th e t e r m s stated in the S u p p l e m e n t of June, 1 8 8 5 , and prior issues.
1886-87.
1887-88.
1888-89.
Operations—
1889-90.
In October, 1889, a traffic agreement was made with the Union Pacific Rate p.pass.p.m.
2‘29 cts.
2*30 cts.
2*24 ets.
2-17 cts.
for olose operation together on through business. See V. 49, p. 525.
1-15 cts.
1-02 cts.
1-01 cts.
0*98 Ota.
Ratep. tonp.m.t
INCOME ACCOUNT.

1887-88.
$
8,252.426
273,064

Î




1888-89.
$
8,874,175
225,778

INYESTOKS’ SUPPLÉMENT.
I vol.

LU,




Ma

y

,

1 8 9 1 .]

RAILROAD

STOCKS

AN D

BONDS

3 0

Subscribers w ill con fer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these Tables.
Ronds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes of
of
Outstanding Cent. Payable
Dividend.
Whom.
on first page of tables.
Road. Bonds Value.
Chicago < Northwestern—(Concluded.) —
&
Des Moines & Minn. 1st M.,Des M.to Jewell Jc.,&c.
63 1882 $1,000
Ottumwa C. F. & St. P. 1st M., guar. ($25,000p.m.)
64 1884
1,000
Northern Illinois 1st mortgage ($20,000 p. mile).
75 1885
1,000
C.&N.W.s.f.b’ds of ’79($15,000p.m.)red.atl05.c&r 1,041 1879 l.OOO&c
Sinking fund debentures of 1933 (not dr’n).c*&r
1883 l.OOO&c
Debenture bonds o f 1909 (for $6,000,000). c*&r
1884 l,000&c
30-year debentures for $10,000,000........... c*&r
1891 l.OOO&c
Extension 4s ($20,000 per mile)....................c&r
1886 l,000&e
Other small issues (see remarks)............................
Winona & St. Peter 2d mortgage (now 1st) guar.. 139 1870-1 1,000
1st mortgage extens., gold,land grant,s.f.,guar. 187 1871 100 &c.
60 1877
M apleRiverlstm .,M apleRiv. Jc. to Mapleton,gu.
Roch. & No. Minnesota 1st mortgage, guar..........
24 1878
Dakota Cent. 1 st M., Watertown to Redfield, guar.
71 1882
1st mort. on Southeast Div. (toHawarden) guar.. 125 1882
1,000
Fremont Elk. & Mo. Val. consol M. (see remarks). 1,106 1883
1,000
1883
S. C. & Pac. Car Tr., ass’d,$40,000 dr’n yearly.c
100
Sioux City & Pac. pref. stock (1st mort. on 6 m .).
6
102 1868 500 &c.
1st mortgage (assumed by C. & N. W.)...............
2d mortgage (Government subsidy).................... 102 1868 500 &c.
Mo. V. & Blair RR. Bridge, 1st, re’b'le after 18931883
86 1886 IO6 &c.
Chicago & Ohio River—1st mortgage (for $500,000)
1886
Income bonds................................. ...........................
1,000
Chicago Peoria < St. Louis—1st mort., gold, guar..c* 120 1888
&
1,000
1st consol, mort. ($15,000 p .m )................... .......c* 170 1889
1,000
Jacksonville Louisv. & St. L. 1st consol. M. gu.c* 112 1890
100
Chicago Rock Island <-Pac.—Stock (for $50,000,000)
£
1st mort., Chic., 111., to CouncilBluffs&branches.c* 736 1877 l,000&c
Chic. & Southw. 1st M. (g’d in cur. by C.R.I.&P.). 268 1869 1Ó0 &c.
1st M. ext. and col. ($20,000 p. m.) red. aft. ’94.c&r 1,794 1884 l.OOO&c
1891
Certificates of indebtedness....................................

$600,000
1,600,000
1,500,000
14,185,000
10,000,000
3,869,000
5,000,000
18,632,000
379,000
1,592,000
4,067,500
402,500
200,000
1,007,000
2,000,000
7,725,000
199,000
169,000
1,628,000
1,628,320
1,000,000
233,000
618,300
1,500,000
963,000
1,680,000
46,156,000
12,100,000
5,000,000
33,519,000
1,000,000

7
5
5
5 &6
5
5
5
4
1 7
7 g.
7
7
6
6
6
6
3*2
6
6
6
6 g.
6
5 g.
5 g.
5 g1
6
. 7
5
(?)

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

&
&
&
&
&
&
&
&

A. N.Y.,Co.’s Office,52 Wall
S.
do
do
S.
do
do
O.
do
do
N.
do
do
N.
do
do
0.
do
do
A.
do
do
do
do
M. & N.
do
do
J. & D.
do
do
J. & J.
do
do
M. & S.
do
do
M. & S.
do
do
M. & N.
do
do
A. & 0.
do
do
M. & S.
do
do
A. & O.
do
do
J. & J.
do
do
J. & J. U.S. Treas., at maturity.
J. & J. N.Y., Boat. Col. Nat. Bk.
M. & N. N. Y., Corbin Bank’g Co.
M. & N.
No coupons paid.
M. & S. N. Y., Amer. Ex. Bank.
M. & N.
do
do
J. & J. N.Y.,Am.Ex.Bk.&Phila.
Q .-F . New York and Chicago.
J. & J. N. Y., L3 William St.
do
do
M. & N.
do
J. & J.
do
do
do

Feb. 1, 1907
Mch. 1, 1909
Mch. I f 1910
Oct. 1, 1929
May 1, 1933
Nov. 1, 1909
Apr. 15,1921
Aug. 15,1926
1892-1908
Nov. 1, 1907
Dec. 1, 1916
July 1, 1897
Sept. 1, 1908
Sept. 1, 1907
Nov. 1, 1907
Oct. 1, 1933
Mar. 1, 1896
Apr. 1, 1890
Jan. 1, 1898
Jan. 1, 1898
Jan. 1, 1923
May 1, 1916
May 1, 1916
Mar. 1, 1928
May 1, 1939
Jan. 1, 1940
May 2, 1891
July 1, 1917
Nov. 1, 1899
July 1, 1934

1889-90. a traffic agreement with the Atchison Topeka & & Santa Fe, a through
1888-89.
1886-87.
1887-88.
.
line was opened between Chicago and St. Louis. (V. 51, p. 608.)
Earnings—
$
$
$
In September, 1890, leased the North & South Illinois (which see).
6,279,621
Passenger................... 5,820,151
6,261,277
6,285,179
Freight........................ 19,329,484 19,118,797 18,193,646 19,654,213 The Chicago Peoria & St. Louis 1st mortgage bonds were described in
1,299,140
1,237,336
Mail, express, &c....... 1,171,681
1,225,445 Chronicle, V. 48, p. 223. The consolidated mortgage (trustee, Central
Trust Co.) is limited to $15,000 per mile on present mileage, and on
Total earn’s .......... 26,321,316 26,697,558 25,692,259 27,164,837 any extension from Litchfield to Springfield, if built; of the authorized
issue, $1,500,000 is reserved to retire first mortgage at maturity.
Expenses—
3,160,704 3,680,437 The Jacksonville Louisville & St. Louis is successor to the Jacksonville
3,351,700
Maintenance of way.. 3,227,245
2,376,125
2,507,673
“
cars, &c. 2,212,289
2,569,167 Southeastern, which was sold in foreclosure May 11,1890. Its bonds
10,055,684 9,788,821 10,401,398 are guaranteed principal and interest by this company, which owns
Transport’n & miscel. 8,918,681
701,637
755,742
712,125
754,103 $1,000,000 of the Jacksonville road’ s $1,500,000 stock. Stock of Chi­
T a xes....................... ...
cago Peoria & St. Louis BE., $2,500,000.
From July 1,1890, to November 30,1890, (5 months), gross earnings
Total........ v ........ 15,070,342 16,670,799 16,027,287 17,405,105
1889; net, $78,547, against $73,797.
9,664,972 9,759,732 $196,025, against $179,446 in $398,819; net, $159,237, against $129,N et earnings............... 11,250,974 10,026,759
In 1889-90 gross earnings were
62-44
P. c. exp. to earnings.
57-26
62-38
6407
661 in 188.8-89 W. S. Hook, President, Jacksonville, 111.
C h ic a g o R o c k I s l a n d & P a c if ic .—(See Map)—L ine of K oad .—
* Including construction material, t On paying freight only.
Owns from Chicago to Council Bluffs, 500 miles; Davenport, la., to
INCOME ACCOUNT.
Atchison, Kan., 342 miles; 16 branches to Knoxville, St. Joseph, etc.,
1886-87.
1887-88.
1888-89.
1889-90. 344 miles; total owned, 1,186 miles.
Leases; Peoria & Bureau Valley Railroad, Bureau Junction to Peoria,
Receipts—
$
$
$
$
Keokuk to
9,664,972
N et earnings... i ......... 11,250,974 10,026,759
9,759,732 47 miles; Keokuk & Des Moines Railroad, Moines to Des Moines, 162;
Des Moines & Fort Dodge Railroad, Des
Fort Dodge and
Disbursements—
144 miles; Chicago Kansas & Nebraska Railway—Elmwood,
Interest on debt*....... 5,136,198
5,215,156
5,540,456
5,486,197 Ruthven,Liberal, Kan., 440 miles; Herington, Kan., to El Reno, I. T.,
Kan., to
3,444,504
Dividends.................... 3,444,504
3,444,504
3,444,979 232 miles; Horton, Kan., to Roswell, Col., 569 miles; McFarland, Kan.,
¡Sinking fu n d..............
58,000
58,000
58,000
202,570 to Belleville, Kan., 104 miles; branches to Salina, etc., 126 miles; (total
Total disbursm’ts. 8,638,702
8,717,660
9,042,960 9,133,746 Chicago Kansas & Nebraska,1,486 miles); total leased, 1,838 miles. St.
Leases trackage: Cameron to Kansas City, Mo. (over Hannibal &
Balance, surplus........ 2,612,272
622,012
1,309,099
625,986 Joseph Railroad); Kansas City to North Topeka, and Limon, Col., to
Denver (over Union Pacific Railroad); Denver to Pueblo (over Denver
* Less credit items.
& Rio Grande), total 330 miles; grand total July 1,1890, 3,354 miles.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Organization .—The Chicago & Rock Island Railroad was chartered
in Hlinois February 7,1851, and opened from Chicago to the Mississippi
1887-88.
1888-89.
1889-90.
River, July, 1854. The present Chicago Rock Island & Pacific was a
Assets_
$
$
$
Hoad and equipment................. 148,372,056 150,822,658 153,403,472 consolidation June 4,1880, with $50,000,000 stock authorized, and a
Bonds owned............................... 10,321,015 11,199,310 *11,219,551 stock dividend of 100 per cent to the holders of Chicago Rock Island
•Stocks owned............................... 12,467,159 12,467,159 112,151,500 & Pacific stock. The annual election occurs in June. The Chicago
Land grant investments ..........
253,000
276,000
422,794 Kansas & Nebraska formerly leased was purchased at foreclosure sale
Bills and accounts receivable..
1,846,520
1,977,541
1,825,439 in April, 1891.
Materials, iuel,& c.......... .
2,455,296
1,644,709
1,978,007
Stock and B onds.—Dividends since 1876:—In 1877 and 1878, 8 per
•Cash on hand.............................
3,669,099
3,204,384
2,148,880 cent; in 1879,10; in 1880, 8 ^ cash and 100 per cent in stock; from
Trustees of sinking fund..........
4,438,177
4,522,402
4,747,971 1881 to 1887, inclusive, 7 ; in 1888, 6 ^ ; in 1889, 4 ; in 1890,4; in 1891,
February 2 ,1 ; May 2,1.
Total...........................
183,822,322 186,114,163 187,897,614
Price of stock: In 1881, 129®1485s; in 1882, 122®1401 in 1883,
4;
Liabilities—
l i e ^ ® ^ ^ ; in 1884,10014® 126%; in 1885,105® 132; in 1886,120^8
63,700,320 163,720,320 ®131; in 1887,109®1407s; in 1888, 9478@ H 41 in 1889,89^'a) 10430;
2;
•Stock, common and preferred,. 63,700,320
Stocks of propriet’ry roads, &c.
668,933
a®9858; in 1891, to May 22, inclusive, 6338®80%
579,110 in 1890, 611
584,360
The extension and collateral trust 5 per cent bonds of 1884 (trustee
Bonded debtlf......... .................. 103,433,500 105,121,500 104,985,500
1,332,075 of mortgage United States Trust Company) are issued at the rate of
1,331,599
Dividends declared, not due...
1,331,599
4,522,400
Sinking funds paid....................
4,438,175
4,747,970 $15,000 per mile for single track, $5,000 per mile additional for equip­
1,294,873
•Current bills, pay-rolls, &c.......
2,050,770
2,102,309 ment and $7,500 for second track. They are secured by the
Uncollected coupons, &c..........
122,880
176,327 direct lien of a first mortgage or by deposit with the trustee of an equal
147,458
.Due to roads in Io w a ................
790,955
984,612 amount of first mortgage 6 per cent bonds of branch lines. After July
1,048,092
.Note of Consol’n Coal C o . . . . . .
125,000
125,000 1.1894, they are redeemable at 105 in the order of their numbers, be­
125,000
Accrued and accruing interest.
1',552,796
1,573,344 ginning with the lowest. (See abstract of the extension and collateral
1,574,828
.Miscellaneous.............................
115,209
244,649 trust mortgage, etc., in C h r o n i c l e , V. 47, p. 260, 261. 262.)
167,369
In April, 1891, the Chicago Kansas & Nebraska mortgage for $26,1,954,421
Land income account...............
1,188,546
1,570,715
5,371,977 000.000, the bonds secured by which were deposited as part security,
4,925,649
Railroad income a ccou n t........
4,303,639
for the extension and collateral 5s, was foreclosed in the interest of the
Total
183,822,322 186,114,163 187,897,614 collateral trust bondholders. The extension and collateral trust 5s are
new a direct lien on the Chicago Kansas & Nebraska mileage, instead
* Includes Fremont Elkhorn & Missouri Valley consols and Wyoming of a collateral mortgage as formerly. See V. 52, p. 427, 680, 795.
•Central Railroad firsts owned and pledged as collateral for extension
From April i ; 1891, to April 30, 1891 (1 month), gross earnings on
fours of 1886, $11,015,000.
3,355 miles were $1,267,815, against $1,239,209 on 3,339 miles in 1890.
t Includes Chicago St. Paul Minneapolis & Omaha stock, $10,000,000;
For fiscal year ending March 31,1891, gross earnings on 3,355 miles
' Fremont Elkhorn & Missouri Valley stock, $1,966,500. Also owns Chi­ were $16,776,157, against $17,181,855 on 3,339 miles m 1889-90, these
c a g o & Northwestern common stock, $10,007,520, and preferred stock, being for both years the early estimated figures issued by the company.
$2,284—included on other side of the account,
For year ending Dec. 31,1890, deficit under all charges and 4 per
i Including $10,007,520 common, and $2,284 pref’d in co.’s treasury. cent dividend was $26,984, this being the result after crediting premium
j| Including live bonds in sinking funds and owned b y company, which on bonds sold, $25,473, and land sales $87,150. On Jan. 1,1891, the
-amounted May 81,1890, to $1,555,500.
gross floating debt, exclusive of accrued interest, rentals and dividend,
—(V. 50, p. 154,174, 800; V. 51, p. 1 4 1 ,1 5 7 ; V. 52, p. 219, 761.)
was stated to be $1,916,153; net floating debt, $874,542,
The fiscal year ends March 31. Annual report for 1889-90 was in full
C hicago & Ohio R iv e r .—Line of road from Sidells, HI., to Olney,
$6 miles. Successor of the Danville Olney & Ohio River, foreclosed In in V. 50, p. 832 and 835. Earnings, &c., have been as follows:
February, 1886. Stock authorized, $1,500,000; outstanding June 30, j
1889-90.
1888-89.
1889, $438,800; par, $100. In 1888-89, gross $77,016; net, $13,290; in­
3,339
3,257
terest, $13,980; deficit, $690, against $15,285 in 1887-8. Austin Corbin, I Miles owned and operated.............................
Y ice-President.
j Earnings—
$
$
4,613,822
Chicago P eoria & St. L o u is.—Owns from Pekin, HI., to Jack­ Passenger........................................................... 4,358,502
11,828,794
sonville, 111., Havana to Springfield, 120 miles, and Litchfield to East Freight............................................................. . . 10,918,370
1,196,445
-St. Louis. 50 miles; uses the Merchants’ Bridge into St. Louis, and leases Mail, express, rentals, etc.......................... ..... . 1,296,575
Springfield to Litchfield, old St. Louis & Chicago RR., etc., 50 miles.
17,639,061
Gross earnings............................................ . 16,573,447
•Operated in close connection with the Litchfield Carrollton & Western.
12,475,067
Barnett to Columbiana, 52 miles; the Louisville & St. Louis, Centralia* Operating expenses................ ......................... . 12,086,000
to Drivers, 17 miles; and the Jacksonville Louisville & St. Louis, 112
5,163,994
Net earnings............................................... . 4,487,447
m iles; total system 401 miles. The extension to East St. Louis, 50
•miles, was completed in August, 1890, and in November, 1890, under Per cent of operating expenses to earnings.
72-92
70-72




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INVESTORS’
SUPPLEMENT.

M A P OP TH E

AND ITS CONNECTIONS.

l ii.




Chicago, rock island
AND
Pacific railway System

[V ol .

o

RAILROAD

Ma y , 1891.]

STOCKS AN D

41

BONDS,

->
Subscribers w i l l con fer a great fa v or by g iv in g Im m ediate notice o f an y error discovered In tbese T a bles.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal, When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes of
of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Chic. St. P. (6 Kan. City—Priority loan, red. at 105. 815
Minn. & Northwestern 1st M., g., $16,000 p. m.c* 515
IstM . ($25,000 per mile) g. (red. Jan., 1896)... c* 815
815
General mortgage.....................................................
Income bonds (conv. into 5 per cent pref. stock).
Chicago St. Paul M inneapolis & Omaha—Pref. stock.
St. Paul Stillwater & Taylors’ Falls 1st mort. ...c
21
Hudson & River Falls 1st mortgage.................... c
12
Chicago St. Paul & Minn. 1st mortgage, gold... c* 177
St. P. &Si’xC. 1st M.,g.($7,000,000)$10,000p.m.c 607
80
North Wisconsin 1st mortgage............................c*
Consol, mort., for $30,000,000 ($15,000 per m.).c’- 1,326
Sault Ste. Marie & Southwestern 1st M., guar.. ..c
37
Chic. < West. Indiana—1st M., g., s.f., dr’n at 105.c*
&
48
General mort., gold, sinking fund, red. at 105. .c*
48
Chicago <• West Mich.—(Stock author. ($6,800,000).
£
Gr. Rap. Newaygo & Lake Sh. RR., 1st m ort...c*
36
General mortgage ($12,000 p. m .)......................c* 489
Chic. & No, Mich. 1st M., guar., $18,000 per mile.
Chippewa Valley—IstM ., g., $&£ for $1,800,000.c*
47
Cin. Day. < Ironton—1st M. for $3,500,000, g., gu.c* 145
£
Cincinnati Hamilton & Dayton—Stock.....................
Preferred stock, Series A .........................................
do
Series B .........................................
Consolidated mort. ($996,000 are 7s) $ & &, s.f.c*
ëô
69
2d mortgage, gold................................................ c*
Cin. Ham. I. (Junction) RR., 1st mort., guar...
99
Cinn. Jack, d Mack.—1st,consol.,g.($10,000p.m.)c* 331
k
Cincinnati Van Wert & Mich. 1st mortgage...... c*
Cincinnati Lebanon & Nor.—IstM. (for$200,000).c
Cincinnati & Muskingum Valley—1st mortgage., .c
Cincinnati New Orleans & Texas Pacific—Stock.......

38
148
336

1889
1884 $1,000
1,000
1886
1889
100 &c.
1888
100
1878 500 &c.
1,000
1878
500
1878
1879
1,000
1,000
1880
1,000
1880
1,000
1890
1,000
1879
1,000
1882
100
1,000
1871
1,000
1881
1,000
1891
1,000
1888
1,000
1891
100
100
100
1,000
1875
1,000
1887
1,000
1873
1,000
1886
1881 100 &c.
1881
1,000
1886
1,000
1870
100

INCOME ACCOUNT FOR 1889-90.
Receipts—
Net earnings........................................
From land department..... .......................................................
Premium on bonds, e t c ............................................................
Chicago Kansas & Nebraska interest.......................................

$
5,163,994
91,350
35,950
1,209,640

Total income...................................................................... ;
Disbursements—
Kent leased roads.............................
Interest on debt..........................................................................
Missouri River bridges.........................
Dividends (4 per cent)...........................

6,500,934
$
1,784,024
2,625,550
195,580
1,846,228

Total disbursements..................... ......................................
6,451,382
Balance, surplus..... ............................................................... . ,
49,552
—(Y. 50, p. 518, 525, 800, 8 1 2 , 8 3 2 , 8 3 5 ; Y. 51, p. 829, 875; V. 52,
p. 41,121, 238, 280, 427, 680, 795.)
«
C hicago St. Iiou ls 4c P ittsb u rg .—See P ittsburg Cincinnati
C hicago & St . L ouis .

C h ic a g o St. P a u l 4c K a n s a s C ity .—Main lines (all steel)
Chicago to St. Paul and St. Joseph, 690 miles; Hayfleld to Manley
Junction, 47 miles ; branches—Summer to Hampton, 64 miles ; to coal
mines, &c., in Iowa, 10*2 miles; other, 4 miles; total owned, S lô ^
miles. Leases—St. Paul to Minneapolis, lO ^ miles ; Chicago terminals,
10 miles; Dubuque to Aitken, 16 miles; Des Moines terminals, 1*2
miles ; Manley Junction to Mason City, 9 miles ; total leased, 49 miles.
Total, 863 miles.
An extension to Kansas City is to be completed in 1890, and a branch
frommain line near Des Moines to Omaha is projected. See V. 51, p. 608.)
Organized May, 1886. Amalgamated December, 1887, with Minne­
sota & Northwestern, which was chartered in 1854.
The Minnesota & Northwestern and Chicago St. Paul & Kansas City
1st mortgage coupons for 1891-92 are guaranteed to be punctually pur­
chased, and will be funded into “ five per cent sterling priority loan ”
redeemable in 1934, or on six months’ notice at 105, the security for
which is the purchased coupons deposited in trust. The priority loan
bonds are limited to $2,823,150, of which $1,411,575 were issued by
Jan. 1,1891, and the remainder will be issued in equal amounts halfyearly as the first mortgage coupons accrue during 1891 and 1892.
For further details see Chronicle, V. 49, p.372, 614.
The Minnesota & Northwestern mortgage is limited to $20,000 per
mile; the bonds outstanding cover the road between Chicago & St.
Paul (400 miles) and other road; total 511 miles, with bridge at St.
Paul, and extensive terminals in St. Paul, Minneapolis and Dubuque.
Chicago St. Paul & Kansas City 1st mortgage bonds are a 1st mortgage
upon 290 miles between Des Moines and St. Joseph and upon terminals
in St. Joseph and Kansas City, and on other road 15 miles ; and further
have a lien upon the remaining 511 miles, subject only to the Minne­
sota & Northwestern bonds.
The general mortgage (trustees, Metropolitan Trust Company of New
York and R. H. Benson of London) is for $10,000,000, plus such addi­
tional amounts as may be needed to replace the bonds now or hereafter
issued under the mortgage of 1886 and the Minnesota & North­
western mortgage. They bear no interest till after July 1, 1892.
Common stock authorized, $25,000,000; outstanding, $14,892,900
{par $100).
From July 1,1890, to April 30,1891 (10 months), gross earnings on
863 miles were $3,770,962, against $3,518,229 on 863 miles in 1889-90.
Fiscal year ends June 30. Report for 1889-90 was in Chronicle V.
51, p. 343.
EARNINGS, EXPENSES AND CHARGES.

Average mileage owned and oper’d
Total gross earnings.......................
Oper’g expenses, taxes, insur. ,&o..
Net income................................
Deduct—
Interest.............................................
Rentals.............................................

1887-88.
608
$
2,251,515
1,817,135

1888-89.
750
$
2,777,985
2,140,080

1889-90.
845
$
4,225,665
3,265,885

434,380

637,905

959,780

595,725
163,826

871,879
236,825

*54,590
296,235

Total...........................................
1,108,704
350,825
759,551
Balance............................................. def.325,171 def.470,799 sur.608,955
[* This interest is on the three-year notes, 5 per cent priority loan and
collateral notes. The four next maturing coupons on both classes of
first mortgage bonds are to be funded as they become due into the five
per cent sterling priority loan, and the general mortgage bonds bear no
interest until after July 1,1892; then at the rate of 4 per cent per
annum.]
A. B. Stickney, Chairman of the Board. J. M. Egan, President and
General Manager, St. Paul, Minn. W. L. Boyle, Vice-President, 47 Wall
Street, N. Y. (V. 48, p. 70, 489; V. 49, p. 355, 372, 503, 6 1 4 ; V. 50, p.
352, 560, 652; V. 51, p. 3 4 3 , 608.)
C hicago St. P a u l M in n ea p o lis 4c O m a h a.—(See Map Chicago
ek Northwestern.)—Main line—Elroy, Wis., to Omaha, Neb., 593 miles;




$1,411,575
9,628,000
9,193,000
4,829,000
4,981,700
11,259,913
334,800
125,000
3,000,000
6,070,000
800,000
13,067,675
400,000
2,003,000
6,779,666
6,638,200
504,000
4,906,000
See remarks.
700,000
2,000,000
4,000,000
1,000,000
553,600
2,816,000
2,000,000
1,800,000
2,095,000
1,171,000
363,000
190,000
1,500,000
3,000,000

5 g.
5 g.
5 g.
4 g.
5 8
2
7
8
6 g.
6 g6
6
5
6 g6 g.
2
8
5
5
5 g.
5 g.
1^4
1
1
5, 6, 7
4 iag.
7
5 g6
6
5
7
2

Jan. 1, 1934
July 1, 1934
July 1, 1936
Jan. 1, 1989
July 1, 1936
Jan. 20,1891
Jan. 1, 1908
July 1, 1908
May 1, 1918
Apr. 1, 1919
Jan. 1, 1930
June 1, 1930
Nov. 1, 1912
Nov. 1, 1919
Dec. 1, 1932
Feb. 16,1891
July 1, 1891
Dec. 1, 1921
1941
Jan. 1, 1929
May 1, 1941
Apr. 31,1891
Apr. 7, 1891
Mar. 1, 1891
Oct. 1, 1905
Jan. 1, 1937
Jan. 1, 1903
Dec. 1, 1936
Jan. 1, 1901
Jan. 1, 1930
J. & J. Cinn., Fourth Nat. Bank Jan., Ï916
J. & J. Jan.,’86, coup, last paid. Jan. 1, 1901
Cincinnati, Co.’s Office. Apr. 20,1891

J. & J. London & Amsterdam.
See remarks.
J. & J.
do
J. & J.
No inter’st due till 1893.
None paid.
J. & J.
J. & J. N. Y., Office, 52 Wall St.
do
do
J. & J.
J. & J.
do
do
M. & N.
do
do
A. & O.
do
do
do
do
J. & J.
do
do
J. & D.
M. & N.
do
do
M. & N. N. Y., Drexel, M. & Co.
Q .-M .
do
do
F. & A. Boston Of., 50 State St.
J. & J. N. Y., Union Trust Co.
J. & D. Bost’ri, Nat.WebsterBk.
Boston.
J. & J. New: York and London.
New York Agency.
M. & N.
Cincinnati.
Q .-J .
do
Q .-J .
do
Q.—M.
A. & O. N.Y.,Kessler<fcCo54Wall
J. & J.
do
do
do
do
J. & J.
J. & D. Dec., 1889, last paid.
J. & J. Dec., 1889, last paid.

other lines, 801 miles; total, 1,438 miles, of which 1,347 miles are
owned, 86 miles leased and 5 miles proprietary road.
This was a consolidation July, 1880, of the Chicago St. Paul & Minne­
apolis (formerly West Wisconsin), the North Wisconsin and the St. Paul
& Sioux City. The Sault Ste. Marie & S. W., 37 miles, was purchased in
March, 1891, and its bonds guaranteed.
There are also $75,000 Minneapolis East Railroad first mortgage
guaranteed 7s (J. & J.) due January 1,1909. Stock authorized i s : Com­
mon, $21,403,293; preferred, $12,646,833; outstanding, common, $18,559,427; preferred, $11,259,913; par $100.
In November, 1882, a controlling interest in the stock was purchased
for the Chicago & Northwestern Railway by the acquisition o f 93,200
shares of common at an average price of 48‘40, and 53,800 shares of
preferred at an average of 104-04—the total cost being $10,315,659,
which stock is held as an asset of the Chicago & Northwestern Co.
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings; but common is never to receive more than is
paid on preferred.
Dividends on preferred stock: From 1881 to 1884, inclusive, 7 per
cent; in 1885, 4% ; from 1886 to 1888, inclusive, 6 per cent; in 1889,3;
in 1890, January 20, 2 per cent; July 21, 2; in 1891, Jan. 20, 2.
Report for 1890 was in C h r o n i c l e , V. 52, p. 461. The land sales in
1890 were 31,293 acres, for $87,202, including lots; land contracts and
notes on hand December 31, 1890, $984,755; lands undisposed of,
588,493 acres. Earnings, etc., have been s
INCOME ACOOUS

1888.
Gross earnings............................ $6,411,137
$1,762,979
Net earnings.........................
Net from land grants.................
506,062

1889.
$6,417,857
$1,933,446
561,426

1890.
$6,848,320
$2,059,751
450,715

Total income.........................$2,269,041
Deduct—.
Rentals, etc., p a id .....................
$91,275
Interest on debt.......................... 1,309,733
Dividends on pf. stock (4 p. c.).
450,272

$2,494,872

$2,510,466

$90,644
1,323,614
450,272

$92,731
1,280,228
450,272

Balance surplus.......................... $417,761 . $630,342
$687,235
—(V. 48, p. 372, 45 9; V. 50, p. 370, 44 9 ; V. 52, p. 293, 46 1, 534.)
C h ic a g o 4c W e s t e r n I n d i a n a .—Owns from Dolton and Ham­
mond, I1L, to Chicago, with a belt railroad and branches, with ware­
houses, elevator, &c.,48 miles of roads and 136 miles o f track in all,
including 2d, 3d, 4th and siding track (of which 51 miles were leased to
Belt Railway of Chicago) and about 400 acres of real estate. Leases
road and terminal facilities to the Wabash, the Chicago & Grand Trunk,
the Chicago & Eastern Illinois, the Chicago & Erie, the Louisville
New Albany & Chicago and Atchison Topeka & Santa Fe roads; the
annual rentals stipulated exceed the interest charge considerably.
Stock, $5,000,000, is all held by the companies using the property.
A number of dividends have been paid, but for what amount is
not made public The bonds are liable to be redeemed at any
time at 105 by a sinking fund, which is provided for by increased ren­
tals to be paid for that purpose. Sinking fund payments (in 1890 about
$100,000) apply only to 1st mortgage bonds, till these are all redeemed.
In 1891, $1,000,000 new bonds were authorized for improvements, &c.
In 1890 gross receipts were $1,015,047; surplus over fixed charges,
$491,593, against $321,892 in 1889. (V. 50, p. 243, 518; V. 51, p. 239,
569; Y. 52, p. 204, 278.)
C h ic a g o & W e s t M ic h ig a n .—Owns from Lacrosse, Ind., to
Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids
Junction to Big Rapids, 52 miles; other branches, 38 miles; total oper­
ated, 489 miles. Extension north from Baldwin to Traverse City, Mich.,
74 miles, was completed in July, 1890. In 1887 leased to Chicago &
Indiana Coal Railroad about 18 miles.
Organized as successors of Chicago & Michigan Lake Shore January 1,
1879, and consolidated in September, 1881, with the Grand Haven
Road and the Grand Rapids Newaygo & Lake Shore. There are also
outstanding $24,000 Grand Rapids Newaygo & Lake Shore second
division 7s, due June 1,1905. In addition to stock given above as out­
standing, $158,600 is held in trust for exchange under consolidation
agreement.
The Chicago & North Michigan is to be built in the interest of this
company from Traverse City to Bay View, 93 miles, and in March,
1891, Chicago & West Michigan stockholders had the right of subscrib­
ing to $1,675,000 of its first mortgage bonds, guaranteed principal and
interest by this company, and to $830,000 of its stock, guaranteed
same dividends as Chicago & West Michigan stock. See V. 52, p. 427.
Dividends since 1880—In 1881 and 1882, 21 per cent; in 1883, 3 ; in
a
1884.4; in 1885, 1 ^ ; in 1886,3; in 1887, 2^-, in 1888, 2; in 1889, 2 ;
in 1890, February 15,1 per cen t; August 16, 2 per cent; in 1891, Feb­
ruary 16, 2 per cent.
From January 1 to March 31,1891 (3 months), gross earnings on 489
miles were $368,082 against $335,337 on 408 miles in 1890; net,
$95,700, against $106,175; surplus over charges, $24,287, against
surplus of $50,010 in 1890.
Report for 1890 was in C h r o n i c l e , V. 52, p. 533. In 1890 gross
earnings were $1,606,419; net, $563,795; surplus over charges, $324,729 (against $125,466 in 1889); dividends (4 per cent), $265,528;
balance, $59,201. (V. 50, p^ 205,482, 6 6 1 , 662; V. 51, p. 171,278;
V. 52, p. 533.)

INVESTORS’
SUPPLEMENT.
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l it .




43
BONDS.
BAILKOAD STOCKS AND
May , 18Ô1.J



44

INVESTOKS’

SUPPLEMENT,

[V o l . L H .

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese T a bles.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
F or explanation of column headings, &c., see notes of
of
Par
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
Whom.
•Cin. Richmond & Ft. W .- 1st mort., gold, int. gu.o*
Cin. Saginaw < Mackinaw—1st M. for $2,000,000 g.
6
*
Cincinnati Sandusky & Cleveland—Preferred stock
8 . Day. &C.(Mad.R.&L.E.) 1st M.,s.f.,dr’ n at 1 0 0 .C
Consolidated 1st mortgage ($3,000,000) gold___c
Cincinnati & Springfield—1st mortgage, int. guar.c
2d mortgage........ ....................................................c
Cleve. Akron & Col.—Gen. M., g. (for$1,800,000)..o
Equip. Tr. & 2dM.,g.,red.before maturity........... c*
Cleveland < Canton—1st mortgage............................
£
Equip. Tr. & Improve. 2dM. gold ($2,000,000)..c*
Waynesburgh & Canton 1st mortgage, guar.......c
Clevëland Canton d South.—ls t M. for $5,000,000.
Clevéland Cincin. Chic. & St. Louis—Common stock
Preferred stock, 5 per cent, non-cumulative.........
Cin. & Indiana ls t mort. (Cin. to Ind. State line)c
2d mortgage..........................................................c
Indianapolis Cincin. & Laf. mortgage..................c
C. I. St. L. & C. con. M., dr awn at 105, s.f. 1 p. c.c*
General IstM.. g.,s.f. 1 p.c., not dr’n.............c&r
Bel. & Ind. ls t mortgage (part due yearly)...........
«0. C. C. & I. ls t mortgage, sinking fund................
Con. mort. (s. f. 1 p. c.), dr’n at 100 if unst’ mp’d
’Gen. con. mortgage, g.(for $12,000,000)...c* <fcr
Tndian & St. L. 1st mort., in 3 ser. of $667,000.c.
Mort, for $2,000,000, gold, Indianap.toTerre H.
Cl.Cin.Chic.& St.L. 1st M.(Cairo Vin. & Chic.) g.c*
White Water branch, 1st M., gold................... c*
Spring. < Col. Div. (Col. Sp. & Cin.), 1st M.,g.c*
fc
St. Louis Div. (St.L. Alt. & T. H.) coll. tr.,g.,c*&r
Cin.Wab.&Mich. Div , IstM. for $4,000,000g.c*

86
50

1871
1890

170
170
48
48
178
178
161
161

1866
1888
1871
1872
1887
1890
1887
1891
1888
1891

2Ì
21
151
175
389
119
391
391
391
72
72
267
65
44
193
203

1862
1867
1867
1880
1886
1864
1869
1874
1884
1869
1882
1889
1890
1890
1890
1891

$1,000 $1,800,000
7 g. J. & D. N. Y. Winslow, L. & Co.
$ or £
1,500,000
5 g. J. & J. New York and London.
$50
428,850
3
M. & N. N. Y., Drexel, Morgan.
1,000
133,000
6
F. & A. Boston, S'at. Revere Bk.
1,000
2,477,000
5 g• J. & J. N. Y., Drexel. M. & Co.
1,000
2,000,000
do
7
A. & O.
do
1,000
651,000
do
J. & J.
do
7
500 &c.
1,730,000
5 g- M. & S. N. Y., J. A. Horsey.
1,000
dò
600,000
do
6 g- F. & A.
1,000, 2,000,000
J. & J. N.Y.S.V. White; Bos.I.Tr
5
1,000
Boston.
600,000
5 g. A. & O.
1,000
Boston.
200,000
5 g. J. & D.
(?)
5
100 27,287,600
1 ^ J. & J. Drexel Morgan & Co.
100 10,000,000
do
do
l3
*
Q .-J .
1,000
do
do
295,000
J. & D.
7
1,000
do
do
707,000
J. & J.
7
1,000
do
do
379,000
F. & A.
7
1,000
do
do
760,000
M. & N.
6
l,000&c
do
do
6,835,000
4 g. Q.—F.
1,000
173,000
do
do
7
J. & J.
1,000
do
do
3,000,000
M. & N.
7
1,000
do
4,069,000 7 or 6 g. J. & D.
do
1,000
do
3,205,000
do
6 g. J. & J.
1,000
do
2,000,000
do
Various
7
1,000
do
do
500,000
6 g- M. & N.
1,000
do
5,000,000
do
4 g- J. & J.
1,000
do
650,000
do
4 g- J. & J.
500 &c.
1,035,500
do
do
4 g- M. & S.
l,000&c 10,000,000
do
do
4 g- M. & N.
1,000
New York Agency.
(?)
4 g- J. & J.

C h ippew a V a lle y .—Projected from Mount Pleasant, Mich., to
Manistee, about 120 miles. In 1890 purchased the Manistee & Luther
RR., a lumber road 37 miles in length, with branch of 10 miles. Stock
authorized, $1,800,000; outstanding, $700,000—par, $100. In 1889
gross earnings of this road (which will form part of the Chippewa Val­
ley’s main line) were $137,388; net, $63,133. Trustee of mortgage is
Central Tr. Co., N. Y. O ffice of company, 80 Broadway. (V. 50, p 632.)
C h octaw Coal Sc R a ilw a y .—In operation from Wister, Indian
Territory, on St. Louis & San Francisco Railway, to South McAlester,
Indian Territory, on Missouri Kansas & Texas, 64 miles. Projected
easterly to Little Rock, Ark., and westerly to Albuquerque, on Atlantic
Ac Pacific, with branch to Denison, Tex. Holds valuable coal leases,
January 8, 1891, Edwin D. Chadick and Francis I. Gowen were
appointed receivers, and their report in May showed total indebtedness
$2,766,000; road constructed 108 miles; road operated 65 m iles; April
gross earnings $56,947; net, $24,480; coal shipments 800 tons daily.
‘C in cin n ati D ayton Sc Ir o n to n .—(See map Cincinnati Hamil­
ton & D ayton.) Operates from Dayton to Ironton, Ohio, 165 miles,
standard gauge, of which 145 miles are owned, the other 20 miles being
onerated under traffic contracts, 8 miles between Bakers and
Byers belonging to the Baltimore & Ohio S. W. and 12 miles between
Deans and Ironton to the Iron R. R. The Cincinnati Dayton &
Ironton succeeded to a portion of the railroad of the Dayton Fort
Wayne & Chicago, which was sold in foreclosure on January 20,1891
(see V. 52, p. 164). Leased in April, 1891, for 99 years (renewable
forever) to the Cincinnati Hamilton & Dayton, which guarantees the
bonds, principal and interest. Of the $3,500,000 bonds authorized,
-•$1,500,000 are reserved for improving, equipping and extending the
road. In addition to the guaranty of the bonds the lessor is to receive
one-half the net income remaining after the payment of operating
•expenses, taxes and interest. See V. 52, p. 534, 680. Stock is $5,OOO.OOQ. See V. 52, p. 164, 534, 680.
C in cin n ati H a m ilto n Sc D a y to n .—(See Map.)—Owns from Cin­
cinnati, O., to Dayton, O., 60 miles ; leases Dayton & Michigan, Dayton
»to Toledo, 142 miles, and Cincinnati Dayton & Ironton, Dayton to
Ironton, Î65 miles. Controls Cincinnati Hamilton & Indianapolis,
Hamilton to Indianapolis, 99 miles ; Cincinnati & Dayton, Hamilton
to Middletown, 14 miles ; Cincinnati Dayton & Chicago, Dayton to
Delphos, 95 miles; Troy & Piqua, 8 miles; Columbus Findlay &
Northern, Deshler to Findlay, 18 miles; Bowling Green R. R.,
"Tontogany to North Baltimore, 21 miles. Total 622 miles. Owns
jointly with Big Four the Dayton & Union—which see.
In April, 1891, the Cincinnati Dayton & Ironton R.R. (which see)*
'Was leased for 99 years, its $3,500,000 of 5 per cent bonds being
guaranteed, principal and interest.
Floating debt April, 1890, $774,213. Company owns $700,000
Cincinnati Hamilton & Indianapolis bonds not included in amount
•outstanding above.
Dividends on common stock since 1882—In 1883, 9 per cent ; in 1884,
> ; in 1885, 6 ; in 1886, 7; in 1887, 6 ; in 1888 and 1889, nil; in 1890,
6
5 per cent ; in 1891, January 31,1% ; April 31, II4.
Dividends on preferred stock from January 1,1883, to July, 1886, at
irate of 6 per cent; from July, 1886, to date, at rate of 4 per cent yearly.
Fiscal year ends March 31. Report for 1889-90 was in Chronicle,
V. 51, p. 19.
INCOME ACCOUNT.

1886-87. 1887-88. 1888-89. 1889-90.
Receipts—
$
$
$
$
«Gross earnings.................... 3,066,967 3,447,574 3,478,975 3,565,178
Net earnings........................ 1,119,749 1,410,300 1,387,588 1,400,915
T lfiT y /> ypyi/<_
V lIi »p ’vj
?
Interest on b o n d s.............. 507,443
576,959
551,131
528,630
C. H. & D. dividends......... 325,259
120,000
46,405
160,874
D. & M. dividends.............. 132,024
171,401
171,401
175,339
Total disbursements... 964,726 868,360
768,937
864,843
¡Balance, surplus................ 155,023
541,940
618,651
536,072
—(V. 50, p. 834, 874; V. 51, p. 19, 493, 681; V. 52, p. 534, p. 80.)
C in cin n ati In d ia n a p o lis St. L o u is Sc C hicago.—See Cleve­
land Cincinnati Chicago & St. Louis.
C in cin n ati J a ck so n Sc M a c k in a w .—Owns from Carlisle, O.,
north to Addison, Mich., 190 miles; Allegan to Dundee, Mich., 133
m iles; branches, 3 m iles; leases trackage Dundee to Toledo, 23 m iles;
total operated, 349 miles. A consolidation in 1886 of the Cincinnati
Van Wert & Michigan RR. and the Jackson < Ohio RR. In 1887 purfc
•chased the Michigan & Ohio sold in foreclosure. See abstract of
mortgage (Central Trust Co., of New York, trustee), V. 45, p. 574.
Stock is—Common, $10,413,835; preferred, $5,867,000.
In November, 1889, Mr. Walston H. Brown was appointed receiver.
Foreclosure proceedings are in progress under the plan of reorganiza­
tion in C h r o n i c l e , V. 50, p. 352, 770.
From Jan. 1,1890, to March 31,1891 (3 months), gross earnings were
■■$187,298, against $137,214 in 1889-90; net, $48,122, against $15,941.
Fiscal year ends June 30, and report for 1889-90 was in V. 52, p. 40.
For calendar year 1890 gross earnings were $680,301, against
623,439 in 1889; net, $158,140, against $126,718. For year ending
une 30, 1890, gross earnings were $659,248; expenses, $510,984;

S




June 1, 1921
Jan. 1, 1920"
May 1, 1891
Aug. 1, 1900
Jan. 1, 1928
Apr. 1, 1901
Jan. 1, 1902
Mch. 1, 1927
Aug. 1, 1930
July 1, 1917
July 1, 1917
June 1, 1928
Jan., 1941
Jan. 5, 1891
Apr. 1, 1891
Dec. 1, 1892
Jan. 1, 1892
Feb. 1, 1897
May 1, 1920
Aug. 1, 1936
1891 to 1899
May 1, 1899
June 1, 19i4
Jan. 1, 1934
July 1, 1919
Nov. 1, 1912
Jan. 1, 1939
July 1, 1940
Sept. 1, 1940
Nov. 1, 1990
July 1, 1991

net, $148,263, against $97,511 in 1888-89. V. 49, p. 300, 433, 470, 5 7 8 ,
653, 718, 8 24;V. 50, p.3 5 2 ,5 89 ,7 7 0 ; V. 51, p. 20.; V. 52, p. 4 0 , 350.)
C incinnati Leb an on Sc N orth ern .—Cincinnati, O., to Dodds, O.,
36 m iles; branches, 2 miles; total, 38 miles. This company was formed
in 1885 as successor of the Cincinnati Northern, sold in foreclosure.
Stock is $988,000; par, $100. In 1889 gross earnings were $114,080;
net, $31,365; surplus over charges, $23,140, against $14,549 in 1888.
C incinnati Sc M u sk in g u m V a lle y .—Owns from Morrow, Ohio,
to Trinway, O., 148 miles. Sold under foreclosure December 3,
1869, and reorganized as at present January, 1870. Gross earnings
in 1890, $437,607; net, $61,811; deficit under interest, betterments,.
&c., $74,376. In 1889, gross, $447,038; net, $40,794; deficit under
fixed charges, $93,827. Amount due Pittsburg Cincinnati & St. Louis,
former lessee, December 31, 1890, $1,081,013, and for coupons up to
January, 1891, $526,050. Capital stock, $3,997,320. Pennsylvania
Railroad owns $754,000 of the bonds.
C in cin n ati N ew Orleans Sc T ex a s Pacific.—(See Map.)—This
company was organized under the laws of Ohio October 8,1881, and
operates under lease the Cincinnati Southern, extending from Cin­
cinnati to Chattanooga, Tenn., 336 miles. In April, 1890, the East
Tennessee Virginia & Georgia obtained voting power on $1,000,000
stock, through purchase of a controlling interest in the Alabama Great
Southern, and company became a part of the East Tennessee system.
See C h r o n i c l e , Vol: 50, p. 560; V. 51, p. 569. The rental due the
City of Cincinnati is $912,000 till Oct. 12,1891; $1,012,000 till Oct.
12,1896; $1,102,000 till Oct. 12,1901, and $1,262,000 till 1906.
Dividends since 1881: In 1882, l 3 per cent; in 1883, 3; in 1889, 3;
^
in 1890, February 18, 4 per cent; in October, 2; in 1891, April 20, 2.
From July 1,1890, to March 31,1891 (9 months), gross earnings were
$3,360,295, against $3,196,916 in 1889-90; net, $1,054,967, against
$1,200,586.
Fiscal year now ends with June 30. Annual report for 1889-90 was
given at length in V. 51, p. 414, 422.
1887-88.
1888-89.
1889-90.
$

Gross earnings........................... 3,525,775
Net earnings................................1,163,402
Deduct—
For rental................................... 912,000
Dividends.....................................................
Sinking fund, etc....................
69,199

$

$

3,655,859
1,145,256

4,309,144
1,580,963

912,000
90,000
77,359

912,000
180,000
90,912

Net surplus.......................... 182,203
65,897
398,051
—(V. 48, p. 221, 250, 3 2 6 ; V. 49, p. 3 4 0 ; V. 50, p. 205, 245, 276, 560;
V. 51, p. 275, 4 1 4, 4 2 2 , 569, 645; V. 52, p. 321.)
C incinnati R ic h m o n d Sc F o rt W a y n e .—Owns from Rich­
mond, Ind., to Adams, Ind., 86 miles; leases 5 miles of Pittsburg Fort
Wayne & Chicago; total operated, 91 miles. Leased for 99 ye ars to
Grand Rapids & Indiana, the rental being net earnings. Interest is
guaranteed by the lessees and by the Pennsylvania Company and Chi­
cago St. Louis & Pittsburg Company jointly. Gross earnings in 1890,
$471,296; net, $165,853; profit to guarantors, $3,854, against loss of
$8,983 in 1889. Stocx, $1,709,313; par $50. Total advances by guar­
antors to December 31,1889, $1,131,995.
C incinnati Sagin aw Sc M a c k in a w .—Owns Durand to Oa-ta-ka
Beach, 56 miles. Successor in 1890 to the Toledo Saginaw & Mackinaw.
In September, 1890, leased for 99 years to the Grand Trunk of Canada.
Of the $2,000,000 bonds $500,000 were reserved for new terminals
extensions, &c. The bonds are for either $1,000 or £205 10s. (V. 51,
p. 645.)
C incinnati Sandusky Sc C leveland.—Owns from Sandusky, O.,
to Dayton, O., 154 miles; branch, Carey to Findlay, 16 miles; total,
170 miles. October 31,1890, leased till 1969 to the Cleveland Cincinnati
Chicago & St. Louis, which issues $3,212,680 stock to take up this
company’s common stock, and agrees to pay the interest on the bonds
and the dividends on the preferred stock. See V. 51, p. 457. The bonds
remain unchanged for the present.
The preferred stock has a lien by deposit of old bonds in trust. The
mortgage of 188$, due 1928 (trustee, American Loan & Trust Co. of
Boston), was to retire the preferred stock and prior bonds when due,
sufficient bonds being pledged for this purpose.
Dividends since 1876: On preferred, 6 per cent yearly to date. On
common, in 1882, 2and 10 in stock Columbus Springfield & Cincinnati
RR.; in 1884, 2; in 1888, 5 (out of judgment against Indiana Bloomington&Western); in 1889, 3^; in 1890, March 10, l h per cent; Dec. 1, 4.
In year ending June 30,1889, gross earnings were $814,879; net,
$290,734; rental received, $94,606; total net, $385,340; interest, $227,506; surplus, $157,834; dividends (6 per cent) on preferred stock, $25,731; balance, $132,103, of which $86,597 paid to Columbus Springfield
& Cincinnati as additional rental. (V. 48, p. 9 9 ,1 2 9 : V. 49, p. 21,580,
589; V. 50, p. 632, 801; V. 51, p. 142, 416, 457, 608; V. 52, p. 80, 428.)
C incinnati Sc Springfield.—Operates from Cincinnati, O., to
Springfield, O., 80 miles, of which 32 miles are leased from other com­
panies. The whole is leased and operated by Cleveland Cincinnati Chi­
cago & St. Louis Company, giving them a line into Cincinnati and depot
accommodation. Lessees apply any excess over operating expenses
and interest to Cincinnati & Springfield stock. Interest is guaranteed
on the first mortgage, one-half by the lessees and one-half by Lake

Ma t , 1891,J




RAILROAD

STOCKS

AR D

BORDS.

45

46

INVESTORS’

SUPPLEMENT.

[V ol .

LII.

Subscribers w i ll confer a great fa v or by g iv in g im m ed iate notice o f any error discovered in these T a b les.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
Par
For explanation of column headings, &c., see notes of
of
Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
Whom.
■Glevel. Lor. & Wheel.—Cl. Tusc. Val. & W., 1st mort
•Cleveland < Mahoning Val.—1st mort., extend.. .c
£
3d mortgage (now 2d)..........................................c
Consol, mort. for $3,000,000 (reg. int. Q.—J.) ,e«fer
Cleveland < Marietta—1st mortgage, gold..........c&r
6
Cleve. < PUtsb.—Stock, 7 p. c. guar, by Penn. Co___
£
4th mortgage (now 1st)..........................
c
Consol, sink, fund mort. for $5,000,000,not dr’n . c
Constr’n and equip’tinc. bds.,Ser.“ A” ) s.f.,dr’n .c
di
<
.
do
d0 Ser.“ B” j atlOO.c
Colorado Midland—See At. Top. & Santa Fe system.
Columbia < Greenville—1st mortgage, gold .. .. c*
&
7 2d mortgage..................................................... .... c*
ColumbiaNewb. ALaiirens—lstM ,g.,for$i2,000 p.m
Columbus < Ginn. Mid.—1st M.,ext. at 4*2 p.c. guar.
6
Debentures, guaranteed..........................................
Columbus Hocking Valley < Toledo—
6
Col. < H. V. 1st mortgage................................ .c*
fe
2d mortgage (Columbus to Athens and brs ...)c+
Col. & Toledo 1st M. (Columbus to Walbridgeb.c*
> 2d mortgage (Columbus to Walbridge)...............
Ohio & West Ya. 1st mort. (Logan to Pomeroy)., c*
Consol, mortgage, gold (for $14,500,000)...... ..c*
Gen. mort.,gold,on road & Hocking Coal& RR.Co.c
Colum. Shaw. < Hock.—Stock ($2,000,000 is pref.).
&
1st mortgage for $5,000,000, gold...................... c*
Equipm’t M., g., sub. to call after ’96, ($1,000,000)
Zanesville Term’l Co. 1st m. for $500,000, gold.c*

158
125
125
125
97
Ï99
199

$700,000
1878 $1,000
1873 500 &c.
654,000
1876 500 «fee.
487,900 'i
1888 l,000«fec 1,500,000
1,000
1887
600,000
50 11,247,036
500
1862
1,104,844
1,000
1867
1,931,000
1,000
1873
1,506,000
1,000
1873
457,000
1,000
1,000
1,000
1,000

164
164
43
71

1881
1881
1887
1884
1890

121
121
118
118
85
325
325

1867 500 «fee.
1,000
1872
1,000
1875
1,000
1880
1,000
1880
1,000
1881
1,000
1884

110
110

1890
1891
1890

1,000
1,000
1,000

Shore «fe Michigan Southern. Stock is $1,100,000 (par $50), voting
power on $616,450 being held by trustee for Cleveland Cincinnati Chicago
& St. Louis. To January, 1890, the Cleveland Cincinnati Chicago < St.
fe
Louis had advanced $2,951,814. In year ending June 30,1890, gross
earnings, $1,196,410; net, $332,618; deficit under interest, &c., $45,137
C in cin n a ti W a b a sh & M ich iga n R a ilw a y .—Owns from
Benton Harbor, Mich., to Rushville, Ind., 203 miles; uses C. C. C. < St. L,
fe
tracks Anderson to Indianapolis, 36 miles. Sold Nov. 5,1879, and reor­
ganized April, 1880. In March, 1890, a controlling interest in the stock
was sold to the Cleveland Cincinnati Chicago & St. Louis, which issued
$4,000,000 of 4 per cent bonds secured by a mortgage upon this prop­
erty. See V. 51, p. 787; V. 52, p. 718. Stock, $2,044,059; par $100.
Gross earnings for 1890 on 165 miles, $603,170; net, $202,514. In
T889, gross, $534,062; net, $156,449—(V. 4 9 ,p. 372; V. 50, p. 482;
Y. 52, p. 164/570, 718.)
C leveland A k ro n Sc C olu m bu s R a ilw a y .—Owns from Hud­
son, O., to Columbus, O., 144 miles, and branch, Kilbu'ck to Dresden
Junction, 33 miles; trackage, Cincinnati & Muskingum Valley Ry.,
Dresden Junction to Zanesville, 17 miles; total, 194 miles. Sold in fore­
closure in 1882, and reorganized under this title in January, 1886. The
new equipment trust bonds (authorized to a total of $890,000, or
$5,000 per mile) are a second mortgage. They are redeemable at 100
and interest on August 1,1900, and at 105 and interest on any August
1 thereafter prior to 1930. See full statement to N. Y. Stock Exchange
under date of Feb. 9,1891, in V. 52, p. 464. Stock, $4,000,000 ; par,
$ 100.
Dividends: 1886 and 1887, each 1*2 p e r c e n t ; for 1888 and 1889,
■each 1 per cent.
From July 1, 1890, to Mch. 31,1891 (9 months), gross earnings were
$666,008, against $579,717 in 1889-90; net, $174,639, against $150,274.
For six months ending Dec. 31,1890, surplus over fixed charges was
about $42,980. In year ending June 30,1890, gross earnings (including
Dresden branch) were $797,889; net, $213,343; surplus over interest,
taxes, &c., $54,682.—(Y. 51, p. 303, 679; V. 52, p. 351, 462, 464.)
C le v e la n d & C a n t o n .—(See Map.)—Line of road.—Cleveland to
Coshocton, O., 115 m iles; Canton to Sherrodsville, 43 miles; branch, 3
m iles; leases 6 miles; total, 167 miles. Made standard gauge in No­
vember, 1888. The Connotton Valley RR. was sold in foreclosure May
"9,1885, and this company organized. Capital stock is $3,099,599 com­
mon and $7,893,758 preferred; par, $100. There are also $404,200 of
5 and 6 per cent coupon notes due in 1891 and 1894; $118,865 5-year
ca r trusts and $503,669 5®6 per cent mortgage and other notes due in
*6 months to 3 years. In February, 1891, stockholders authorized the
issue of $2,000,000 2d mortgage equipment bonds, of which $600,000
have been issued for the retirement of certain outstanding equipment
liens and for the purchase of new rolling stock. They are a first lien on
aiew equipment and a second lien on the road. (See V. 52, p. 380.) The
Waynes. & Canton is leased for 40 years from June 1, 1888, and its
'bonds guaranteed, principal and interest. In reference to the Cleveland
•Canton & Southern, see that company below.
HFrom July 1,1890, to March 31, 1891 (9 months), gross earnings
were $456,554, against $358,435 in 1889-90; net, $163,541, against
$118,714.
Gross earnings for year ending June 30, 1890, $499,504; net,
$162,697; surplus over charges, $5,047. In 1888-89 gross, $390,216;
net, $122,438.—(V. 51, p. 6 4 4 ; V. 52, p. 350, 462.)
C leveland C anton & Sou th ern .—Owns a line two miles in
¡length, affording the Cleveland & Canton through its allied line, the
Coshocton & Southern, entrance into Zanesville, Ohio. In 1891 a
mortgage for $5,000,000 was filed in accordance with a project to con­
solidate the Cleveland & (Santon associated lines into one oompanv
under this name. See V. 52, p. 462. Stock, $1,602,000.
Cleveland C in cin n ati Chicago Sc St. L o u is.—(See Map.)—
■Owns:—Cleveland, O., to Columbus, O., 138 miles; Galion, O., to In-dianapolis, 203 m iles; Delaware to Springfield, 50 miles (these three
lines, 391 miles, compose old C. C. C. & I.); CincinnaJ^ to Lafayette (part
•of old Cincinnati Indianapolis St. Louis & Chicago), 175 miles, and
¡branch, 3 m iles; Indianapolis to Terre Haute (old Indianapolis & St.
Louis, 72 miles); East St. Louis to Terre Haute, Ind., and branch
•(formerly belonging to St. Louis Alton & Terre Haute) 193 miles; Harri­
son, Ind., to Hagerstown, Ind., 65 miles; total owned, 899 miles.
K Leases—Cincinnati Lafayette & Chicago (the entire stock owned!
*
Templeton, Ind., to Kankakee, 111., 75 miles; Fairland Franklin & Mariinsville Railroad (entire stock owned—no debt), Fairland, Ind., to Mar­
tinsville, 38 miles; Vernon Greensburg < Rushville Railroad (all bonds
fe
and 70 per cent stock owned), North Vernon, Ind., to Rushville, 45
m iles; Columbus Hope < Greensburg Railroad (all bonds and 61 per
fe
-cent stock owned), Columbus to Greensburg, Ind., 24 m iles; other lines,
•entire stock owned—no debt, 12 m iles; Cincinnati & Springfield (leased
lo r 99 years—55 per cent stock owned), Dayton, O., to Cincinnati, 56
miles; Cairo Vincennes & Chicago, entire stock owned; Cairo to Tilton
and branch, 267 miles; Peoria & Eastern, Pekin, HI., to Indianapolis,
Ind., 202 miles), and Springfield Division, Indianapolis to Springfield,
142 miles; Cincinnati Sandusky & Cleveland, Sandusky, O., to Dayton,
<0., 154 miles, and branch, 16 miles; Columbus Springfield & Cincinnati,
Columbus, O., to Springfield, 44 miles; trackage, Illinois Central into
■Chicago, 56 miles; other trackage, 12 m iles; total operated, including
«trackage, 2,052 miles.




2,000,000
1,000,000
340,000
2,000,000
240,000

7
7 g.
7
5 g6 g1%
6
7
7
7

A. «fe O.
F. «fe A.
M. < S.
fc
J. < J.
fc
F. < A.
fc
Q .-M .
J. «fe J.
M. «& N.
J. < J.
fc
J. < J.
fc

6 g.
6
6 g4*2
4*2

J.
A.
J.
J.
J.

1,401,000
A.
7
777,000
7
J.
2,500,000
7
F.
600,000
M.
7
1,584,000
M.
7
M.
8,000,000
5 g1,618,000
6 g- J.
4.000.
000
3.000.
000 5 g. J.
200,000
6 g. A.
350,000
5 g. J.

N. Y., Union Trust Co.
N. Y .,Winslow,Lan. «fcCo.
do
do
do
do
N. Y., John Paton < Co.
fc
N. Y., Farm. L. «fe T. Co.
do
do
do
do
do
do
do
do

Oct. 1, 1898
Aug. 1, 1893
Sept. 15,1896
Jan. 1, 1938
Aug. 1, 1937
June 1, 1891
Jan. 1, 1892
Nov. 1, 1900
Jan. 1, 1913
Jan. 1, 1934

J. N. Y., 80 Broadway.
O.
dò
do
J.
J. N.Y., Farmers’ L.«feT.Co.
J. Balt., B. < O. RR. Co.
fe

Jan. 1, 1916
Apr. 1, 1923
Jan., 1937
Jan. 1, 1939
Jan. 1, 1895

< O. N. Y., Atlantic Trust Co.
fc
< J.
fc
do
do
< A.
&
do
do
< S.
fc
do
do
< N.
fc
do
do
«fe S.
do
do
«fe D.
do
do

Oct. 1, 1897
Jan. 1, 1892
Aug., 1905
Sept., 1900
May 1, 1910
Sept. 1. 1931
June 1, 1904

<
fc
<
fe
<
fc
«fe
«fe

fc
< J. N. Y., Hatch < Foote. Jan. 1, 1940
fc
April 1, 1916
«& O.
do
do
July 1, 1940
< J. See Hatch < Foote.
fc
fe

Also operates, keeping earnings separately, Kankakee < Seneoa
&
Railroad (one-half stock and bonds owned), Kankakee to Seneoa, 111.,
42 miles. Also owns jointly Dayton & Union Railroad (operated
separately!. 47 miles.
Organization , E tc.—The Cleveland Cincinnati Chicago & St. Louis
Railway Company is a consolidation of the Cincinnati Indianapolis St.
Louis & Chicago Railway Company, the Cleveland Columbus Cincin­
nati & Indianapolis Railway Company and the Indianapolis & St. Louis
Railway Company, made in July, 1889. It is one of the so-called
Vanderbilt roads. The St. Louis Alton & Terre Haute main line and
branch was purchased in 1890 for $10,000,000 of 4 per cent bonds.
The Cairo Vincennes & Chicago is operated under contract dated Octo­
ber 30, 1889, and the Peoria < Eastern (part of old Ohio Indiana &
fe
Western) is operated under a fifty-year lease. The Springfield Division
of the Ohio Indiana «fe Western is owned subject to a purchase money
lien of $5,000,000, which is not a promise to pay, and which (though
redeemable at will) is not collectible before April, 1940
In May, 1891, it was voted to issue $4,000,000 of 4 per cent bonds
secured by a mortgage made jointly with the Cincinnati Wabash <
fc
Michigan, also to make an operating contract with that company. (See
V. 52, p. 718.)
In October, 1890, it was voted to lease the Columbus Springfield <
fe
Cincinnati, and to issue $500,000 stock with which to acquire its
$1,000,000 stock; also to issue $1,250,000 of 4 per cent 50-year first
mortgage bonds secured on that road to take up the outstanding 7s and
the scrip; also to lease the Cincinnati Sandusky < Cleveland, and to
fc
issue $3,212,680 stock to take up the Sandusky’s $4,015,750 of common
stock. See V. 51, p. 457, 608. On March 1,1891, there were $140,000
Col. Spring. < Cin. 7s still outstanding, for which $164,500 new 4s were
fc
reserved.
Stock and B onds.—The consent of a majority interest of the preferred
stockholders is required before any new bonds can be issued or any
lease executed. According to statute company should have privilege of
retiring preferred stock at par after June 27,1892.
Dividends: On preferred stock 1*4 per cent quarterly to date; on
common, in 1890, 4 per cent (1 per cent being extra in July), in 1891,
January 5, 1*2.
Price of common stock—In 1889 58*2 to 78*8; in 1890, 55®80*4; in
1891, to May 22 inclusive, 581 6678.
4@
Price of preferred stock—In 1889, 96 to 103*2! in 1890, 86® 101;
in 1891, to May 22 inclusive, 91®98.
The Cincinnati Indianapolis St. Louis < Chicago 4 per cent mortgage
fe
for $10,000,000 (Central Trust Co. and Hervey Bates, trustees) win re­
tire all prior bonds as they fall due. The sinking fund for these bonds
is 1 per cent yearly of the amount of outstanding bonds; payments
lapse when bonds cannot be purchased at 102*2 and interest.^
The sinking fund provision of the Cleveland Columbus Cincinnati <
&
Indianapolis consolidated bonds may be canceled at option of holders,
and the bonds so stamped.
Of the Indianapolis < St. Louis first mortgage bonds series “ A ” are
&
J. < J.; series “ B,” M. < S.; series “ C,” M. < N.; and the $500,000 6
fe
&
&
per cents are owned by the Pennsylvania RR. Co.
The bonds of 1889 on the Cairo Vincennes & Chicago are bonds of the
Cleveland Cincinnati Chicago < St. Louis Co., but are secured by a mort­
fc
gage made by the Cairo Vincennes < Chicago Company.
fc
Of the $10,000,000 St. Louis Division bonds of 1890 issued to the St.
Louis Alton < Terre Haute in payment for its main line, bonds for
fe
$7,000,000 are reserved to retire all existing liens on the road, and
$250,000 bonds are held in a sinking fund for the issue, bonds to be
purchased at or under 105 with the income therefrom—no bonds drawn.
For full abstract of deed of trust see V. 52, p. 42-45.
Operations and E arnings.—From July 1,1890, to March 31,1891,
(9 months), gross earnings (on 1,714 miles) were $10,036,794, against
$9,672,607 (on 1,714 miles) in 1889-90; net, $3,244,945, against $3,374,670; surplus over charges, $1,013,839, against $1,075,379. •
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 535.
EARNINGS AND EXPENSES 1889-90.
(Not including Peoria & Eastern, Columbus Springfield < Cincinnati,
&
Cincinnati Sandusky < Cleveland or WhiteWater.)
fe
Expenses—
$
Earnings—
$
Passenger..................... 3,235,471 Maintenance of way, «fee. 1,394,573
Freight........................... 7,998,228 Maint. of equip. «&eng’s.. 1,454,469
Mail, express, «fee..........
847,603 Transportat’mfc general. 5,476,575
T o ta l..,..
Net earnings

12,081,302

Total

INCOME ACCOUNT 1889-90.
Disbursements—
Receipts—
$
Net earnings..........^.... 3,755,676 Interest___I.........
Rentals, interest, «fee...
303,476 Rentals..___. . . . .
Dividends.............
Total net................. 4,059,152 Miscellaneous.......

8,325,626
3,755,676
$
1,624,651
936,585
1,320,000
14,940

Total........ .................3,896,176
Balance, surplus................................................-................. ........
162,976
—(V. 50, p. 37,174, 314, 352, 390, 451, 482, 622, 770, 904; V. 51, p. 51,
171, 172, 206, 303, 383, 416, 457, 5 3 5 , 608,753, 787;/V. 52, p. 428,
498, 499, 534, 718. 761.)

E A IL K O A D STO C K S A N D BO N D S.
1891.]
,
y

Ma




48




INVESTORS’

SUPPLEMENT.

[V o l . LU .

Ma t , 1891.J

BALLBOAD

STOCKS AN D

BONDS.

49

Subscribers w i l l con fer a great fa v o r by g iv in g im m ediate notice o f a n y error discovered in these T a bles.
Rond«—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When DueMiles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
For explanation o f column headings, &c., see notes of
of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.

Columbus Springfield A Cincinnati—Stock..........
1st mortgage.............................................................
Columbus A Xenia—Stock, 8% per cent rental........
Concord A Claremont (N. H .)—1st mortgage........ e
Concord A Montreal—Stock, Class I. (B. C. & M. pf.)
Stock, Classes II. and III. (B. C. & M. new and old)
Stock, Class IV. (Concord).......................................
Bost. Con. & Mon. cons. mort. ($582,400 are 6s).c
improvement mortgage................................... c
Consolidated mortgage for $5,500,000.............. c*
Conn. A Possum.—PrefT stock, 5-6 p. c.ren’l,99yrs.c*
1st mortgage (White Riv. June, to Canada line) c*
Massawippi st’k, guar.same div. as Conn. & Pass.
Newport & Richford 1st mort. guar, by C. & P.c*
Connecticut River—Stock ($2,670,000 authorized)..
Connecting (Phila.)—1st mortgage, endorsed........c
Corning Cowanesque A Antrim—Deb., d’n at 100.. c*
Coshocton A Southern—1st mortgage— . . .
—
Covington A Macon—IstM. gold ($12,000per mile)c
Cumberland A Pennsylvania— 1st mort. gold, guar.
Cumberland- Valley—Stock ($484,900 is preferred).
1st and 2d morts., (2d $109,500 due April, 1908).
Danbury A Nor.—Stock, 5 p. c. gu. 99 yrs. Hous.RB.
2d mortgage, now 1st............................................ c*
Consolidated mortgage ($100,000 are 6s).......... c*
General mortgage...................................................o*
D anville A Western—1st mortgage, g., guar..........c

44
44
55
71

1871
1874

166
166

1873
1881
1890

110
37
22
80
7
85
30
107
57

1873

52
37
36
36
36

1881
1864
1883
1887
1885
1891

1872
1880
1883
1891

$50
(?)
1,000
(?)
50 $1,786,200
500,000
500 &e.
800,000
100
1,000,000
100
3,000,000
100
1,947,400
200 &c.
500,000
1,000
1,470,000
1,000
2,500,000
100
1,500,000
100 &c.
400,000
100
350,000
1,000
2,580,000
100
991,000
1,000
1,070,000
1,000
600,000
1,330,000
1,000
1,000,000
1,000
1,777,850
50
270,500
500 &c.
600,000
50
200,000
100 &c.
300,000
1,000
150,000
100
1,052,000
100

1
7
2*5
7
3

Boston, 3 Merch’ s Row.
do
do
M. & S.
Q.—M. Columbus, O., Treasurer
J. & J. Bost., Treasurer’s office.
M. & N. Concord, Co.’s office.

Dec. 10, 1890
Sept. 1, 1901
June10,1891
Jan. 1, 1894
May 1, 1891

3
6&7
6
4
2^2
7
2*2
5
2
6
6
5
6 g.
5 g2
8
2^2
7
5&6
5
5 g-

M. & N. Concord, Co.’s office.
A. & O. B’ston, Faneuil Hall B’k
do
do
J. & J.
do
do
J. & D.
F. & A. Boston, S. Dep. & Tr. Co.
do
do
A. & O.
do
do
F. & A.
do
do
J. & J.
Springfield, Mass.
Q .-J .
M. & S. Phila., Penn. RR. Office.
M. & N. Phila., Fidelity Trust.
J. & J. Boston, Intern’l Tr. Co.
M. & S. Last coup, paid Mch. ,’90
M. & N. N.Y. .Consol. Coal Office.
Q.—J. Phila., T. A. Biddle & Co.
do
do
A. & O.
F. & A. Bridgeport, Hous. RR.
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
A. & O. N.Y., Richmond & Dan.

May 1, 1891
Apr. 1, 189»
Jan. 1, 1911
June 1, 1920
Feb. 1, 1891
Apr. 1, 189»
Feb. 1, 1891
Jan. 1, 1911
Apr. 1, 1891
1900-’ l - ’2-’3-’4
May 1, 189$
1917
Sept. 1, 1915
May 1, 1921
Apr. 1. 1891
Apr. 1, 1904-8Feb. 15,1891
July 1, 18921
July 1, 1920
Apr. 1, 1925
Oct. 1, 193»

i

T»

C le v e la n d C o lu m b u s C in cin n ati S In d ia n a p o lis.—See Cleve |was made in 1885 with Toledo & Ohio Central by which this company
c.
guaranteed the interest on the Toledo & Ohio Central 1st mortgage.
land Cincinnati Chicago & St. Louis.
In August, 1889, a default was threatened by President Shaw on
C leveland L orain Sc W h e e lin g .—Owns from Lorain, O., to West coupons due September 1, but committees of stock and bondholders
Wheeling, O., 158 miles, and branch to Bellaire, O., 6 miles. The Cleve­ were organized, the interest paid, Mr. Shaw asked to resign, and C. C.
land Tuscarawas Valley & Wheeling was sold in February, 1883, and Waite elected President and S. D. Davis Vice-President.
reorganized as Cleveland Lorain & Wheeling. Common stock is $1,000,Suit is in progress to recover the proceeds of sale of $6,200,000 consoli­
000, and preferred $4,600,000, par $100. Lake Shore & Michigan dated 5s, claimed to have been wrongfully diverted from the treasury.
Southern owns $169,100 common and $774,400 preferred. There are
Of the consolidated mortgage $6,500,000 was reserved to meet the
also $150,000 Cleveland Lorain & Wheeling first mortgage 6 per ceh prior liens; the “ Hocking Coal & Railroad” joined in making these
bonds (interest J. & J.), due July, 1895, and $226,000 car trusts, due in bonds. The Central Trust Company of New York is trustee. The gen­
1890,1891 etc. In 1890 gross earnings were $1,209,655; net, $322,- eral mortgage of 1884 covers the road, and is also a mortgage on the
861. In 1889 gross earnings were $1,124,346; net, $321,017; surplus coal property of the “ Hocking Coal & Railroad Company,” whose stock
over interest, $263,017. Dividends 3 per cent on preferred stock in is owned by the Columbus Hocking Valley & Toledo.
1887 ; 2 per cent in 1889. (V. 50, p. 7 3 4 .)
Company owns equipment costing over $4,000,000, of which about
car trusts due 1891 to
C leveland Sc M a h o n in g V a lle y .—Owns from Cleveland, O., to $1,000,000 is covered by In 1883, 21 percent; 1897. 8 5,133s in stock;
Dividends since 1881:
a
in 18
Sharon, Pa., 81 miles; Niles, O., to New (Lisbon, O., and branches, 44 none since. Stock, $11,696,300; par $100.
m iles; total operated, 125 miles. Leased to the reorganized New York
Price
stock—In 1885,
in 1886,
2
1887,15®
Pennsylvania & Ohio Railroad till 1982; the rental is $502,180 per 39%; inof1888, 17®36%; in18@ 43; 11^28% ; 2678®451 ; ine'®32%; in
1889,
in 1890, 181
year. The bonds of 1888 (trustee of mortgage Central Trust Company) 1891, to May 22, inclusive, 24'®2912.
were for double-tracking between Cleveland and Youngstown, for ter­
From January 1 to March 31,1891 (3 months),
minals, and $1,141,000 reserved to retire prior bonds in 1893 and 1895. $613,907, against $543,171; net $250,523, againstgross earnings were
$221,795.
Stock is $2,759,200 (par $50), and dividends of about l l ^ per cent per
Report for 1890 was in Chronicle V. 52, p. 120, showing the follow ­
annum are paid quarterly.
ing.
C leveland Sc M a rietta.—Operated from Marietta, O., to Canal
INCOME ACCOUNT.
Dover, and branch, 97 miles, and 8 miles, Valley Junction to Canal
1887.
1888.
1889.
1890.
Dover, leased. The road was foreclosed for the second time in May,
Receipts—
$
$
$
$
1886, and reorganized. Stock, $$2,000,000—par $100; car trusts, June Gross earnings........ . ......... 2,595,583 2,875,515 2,496,319 3,056,752
30,1890, $125,396. Prom July 1 to March 31,1891 (9 months), gross
earnings were $276,954, against $195,850 in 1889-90; net, $68,380, Net earnings...................... 993,684 1,221,853 1,007,692 1,308,200
Miscellaneous.....................
44,485
28,579
28,335
32,147
against $37,970. A. T. Wikoff, President, Cambridge, O.
Cleveland & P ittsb u rg .—(See Map Pennsylvania Railroad.)
Total receipts............... 1,038,169 1,250,432 1,036,027 1,340,347
Cleveland, O., to Rochester, Pa., 124 miles; branches—Bayard, O., to new
Philadelphia, 31 miles; Yellow Creek to Bellaire, 43 miles; leases, Roch­ Int. on bonds & car trust..
979,557
984,020
997,820
977,420
ester to Pittsburg (Pittsburg Fort Wayne & Chicago), 26 miles; total Interest on floating debt..
18,629
23,758
12,950
38,205
operated, 224 miles. The property was leased for 999 years from De­ Int. to Pa. RR. on lease...
24,048
24,086
24,658
24,490
cember 1,1871, to Pennsylvania Railroad Company, and lease trans­ Miscellaneous.................................... ,.
3,118
................................
ferred to Pennsylvania Company May 1,1872. Rental, 7 per cent on
existing capital (10 per cent on the old) and $10,000 per year for com­
To tal disbursements... 1,022,234 1,034,982 1,035,428 1,040,115
pany expenses, the lessees assuming all liabilities.
For the year 1890 the gross receipts were $3,593,673, and the deficit Balance............................... sur.15,935 sur.215,451 sur. 599 *300,232
to lessee was $2,517, against a deficit of $229,740 in 1889. (V. 48, p.
* Of this amount $117,211 was spent for additions, improvements,
99; V. 50, p. 70; V. 52, p. 80.)
&c., and $174,635 for equipment, leaving a surplus of $8,385.
C olorado M id la n d .—See A tchison T opeka & Santa F e System , —(V. 50, p. 1 0 5 , 519, 735, 7 9 9 ; V. 51, p. 303; V. 52, p. 40, 120.)
C olu m bia Sc G reenville (S. C .)—(See Map o f Richmond A West
Point Terminal.)—The company owns from Columbia to Greenville,
S. C., 143 miles; branches to Abbeville and Anderson, 21 miles; total,
164 miles. Also owns Laurens Railroad, 31 miles, and leases Blue
Ridge Railroad, 32 miles, and Spartanburg Union & Columbia Railroad,
69 miles. Total operated, 296 miles. The Greenville & Columbia road
was sold in foreclosure April 15,1880, and reorganization was made
under this name. Preferred stock, $1,000,000; common stock, $1,000,000; par of shares, $100. Due other companies June 30,1890, $447,176.
A ll the common stock is pledged by the Richmond & West Point Ter­
minal Company, under its collateral trust of 1887, and in May, 1886,
the road was leased to the Richmond & Danville Railroad Company.
From July 1 to December 31,1890 (6 months), gross earnings were
$457,160, against $429,405 in 1889; net, $142,357, against $171,388.
In year ending J une 30, ’90, gross earnings, $842,231; net, $252,858 ;
interest and rentals, $250,807; surplus, $2,051. In 1888-89 gross,
$694,030; net, $203,707. (V. 46, p. 699.)
C o lu m b ia N ew berry Sc L a u ren s.—Owns from Columbia, S. C.,
to Clinton, S. C., 64 miles. Operated under a temporary arrange­
ment in connection with the South Carolina Railway. An extension,
20 miles, to a connection with the Georgia Carolina & Northern, near
Clinton, S. C., was opened in April, 1891. Stock authorized, $2,000,000
—outstanding, $500,000.
C olu m bu s Sc C incinnati M id la n d .—Owns Columbus, O., to
Midland City, O., 71 miles. Opened in November, 1884. Affords the
Baltimore & Ohio a direct route between Pittsburg and Cincinnati.
Stock, common, $2,000,000 ; preferred (non-voting), $1,000,000. In
January, 1890, leased for 999 years to Central Ohio, by which assigned
to Baltimore & Ohio. See V. 51, p. 718. The Baltimore & Ohio assumes
the Central Ohio’s guarantee of principal and interest of the bonds and
owns all the common stock. It also assumes the Central Ohio’s guaran­
tee of 3 per cent per annum, payable semi-annually, commencing with
Jan. 1,1895, on the preferred stock, “ unless said stock be redeemed at
not less than its par value” at any time after January 1,1893. Gross
earnings m 1890, $350,164; net, $101,812; interest, $100,800; sur­
plus, $1,012.- (V . 49, p. 579, 616, 653, 690; V. 51, p. 718.)
C olu m b u s H o c k in g V a lley & T o le d o .—(See Map.)—Owns
in a,in line from Pomeroy, O., to Walbridge, O., 250 miles, with trackage
(Northwest Ohio) Walbridge to Toledo, 6 miles; branches—Logan to
Athens, 26 miles ; Logan to New Straitsville, 13 miles ; Monday Creek
Junction to Nelson ville, 17 miles ; others, 15 miles ; total, 327 miles.
'This was a consolidation in July, 1881, of the Columbus & Hocking
Valley, Columbus & Toledo and Ohio & West Virginia. An arrangement




C olu m bu s Shaw nee Sc H o c k in g .—(See Map.)—Line of road,
Columbus, O., easterly to Zanesville and southerly to Glouster,
Shawnee and Shawnee Junction, with branches; total, 157 miles, o f
which 110 miles are owned and 47 miles leased. This company was
formed in November, 1889, by a consolidation of the Columbus & East­
ern (foreclosed in 1888) and the Shawnee & Muskingum River Railroad.
The mortgage (trustee, Metropolitan Trust Company) is for $5,000,000.
of which $1,500,000 is reserved for extensions and may be issued at
$30,000 per mile of road completed and equipped. Stock authorized.
$6,000,000 (half preferred); outstanding, $4,000,000. The equipment
bonds are a first lien on equipment, a second lien on the road, and cover
$210,000 of the company’s first mortgage 5s, which can only be sold
for new equipment to be made subject to the equipment bonds. The
Zanesville Terminal Railway is leased for 99 years, and its bonds guar­
anteed as to interest. The companies using the Terminal’ s property
pay $2 00 per loaded car. Hatch & Foote, 7 Pine Street, N. Y., fiscal
agents.—(Vol. 50, p. 313,206 ; V. 51, p. 493 ; V. 52, p. 80.)
From January 1 to April 30,1891 (4 months), gross earnings on 164
miles were $143,813, against $73,899 on 150 miles in 1889.
C olu m bu s Sou th ern .—Completed in 1890 from Columbus, Ga., on
Central of Georgia Railroad, to Albany, Ga., on Savannah Florida &
Western, 88 miles. President, W. B. Lowe.
C olum bus Springfield Sc C in cin n ati.—See Cleveland Cin ­
cinnati

Chicago & St . L ouis .

C olum bus Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio,
55 miles. Operated as a division of the Little Miami, and is leased fo r
99 years from December, 1869, in connection with that road, to the Pitts­
burg Cincinnati Chicago & St. Louis, which pays 8 per cent on stock.
The lease is guaranteed by the Pennsylvania Railroad Company. The
Columbus & Xenia pays 8% per cent dividend per annum, 2 iBper cent
March 10 and September 10 and 2 per cent June 10 and December 10_
Concord & M o n trea l.—Owns from Nashua, N. H., via Concord,
to Woodsville (near Wells River Junction), 128 miles; Woodsville to
Groveton Junction, 53 miles; Wingroad to Mt. Washington, 20 miles;
Hookset branch, 3 miles; total owned, 204 miles. Leases Concord &
Portsmouth RR., Manchester to Portsmouth. N. H.. 41 miles, and branch
to Suncook, 7 miles; Suneook Valley RR., 24 miles; Pemigewasset Val­
ley RR., Plymouth to North Woodstock, N. H., 20 miles; Manchester <
&
North Weare RR., 19 miles; Nashua Acton & Boston RR., Nashua to
Concord, 25 miles; total leased, 136 miles. Operates lines to Belmont,
Jefferson, Kilkenny and Alton Bay, 48 miles. Total operated, 3,g8 miles.

IMint

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Alexandria

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[Vol. L n.




Carbondajle^1A

Z-

M o0t(i
* * * * * tes j

Ames V .0
d^,
ÇChauncey

M a y , 1891.]

EAILKOAD

STOCKS

AND

BONDS.

51

Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f any error discovered in these T a bles.
RAILROADS.
INTEREST
Bonds—Princi­
Miles Date Size, or
Amount
pal, When Due.
For explanation of column headings, &c., see notes of
of
Par
Outstanding Rate Per I When !Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Dayton & Mich.—Com. stock (S^p.c.'guar. C.H.&D.)
Preferred stock (8 per cent guar. C. H. & D .). ...
Consol, mort., guar, princ’l & int. by C. H. & D .c Ï42
Toledo Depot, 2d mortgage....................................c
Dayton <• TJnion—1st mort., sink, fund (not drawn)c
£
32
Income mortgage bonds, sinking fund................ r
32
Dayton d Western—1st M., guar. L. M. and C. & X .c
k
37
Dec. Ghesap. dkNew Orl.—1st M., $20,000 p. m .,g .c’
Delaware—Stock—6 p. c. guar, till 1898, P.W.&B..., io ó
Mortgage bonds, convertible, guar., P. W. & B .c”
85
Del. < Bound Br.—
6
-Stock—8 p. c. gu. Phila. & Read.
1st mortgage............................................................ c
’27
1st. mort. on Trenton Br., 2d mort on main line.
4
Delaware < Hudson Canal—Stock.............................
&
1st mortgage, extended in 1877.............................
Debentures secured by Penn. Div. Bonds.......... c*
1st mort. on Pennsylvania Div. ($10,000,000) c&r
Schenectady & Duan. 1st mortgage, interest guar.
14
Bluff Point Land Improvement Co. 1st M.,guar.o*
Delaware Lackawanna < Western—Stock................
&
Consol, mort. on roads & equipm’nt ($10,000,000) 288
Plain bonds (not mortgage) convertible................
Del. Maryland d Fa.—June. & B.—1st M. to State..
k
44
Junction & Breakwater 2d mortgage.................. c*
44
Breakwater & Frankford 1st mortgage to State..
19
Worcester RR. 1st. M. (s.f. notinoperat’n) gold.c*
35
Delaware < New Bna.—Col. Tr., red. after June ’91 .*
&
Denver < Bio Grande—Stock ($45,500,000).............
6
Pref. stock, 5 per cent non-cum. ($28,000,000)...
1st mortgage, gold, sinking fund..................... c*&r 295
Consol, mortgage, gold, (for $42,000,000)___c*&r 1,621

1871
1881
1864
1879
1879
1864
1889
1875
1875
1879
1867
1874
1877
1874
1890

$50
50
1,000
i.o o b
1,000
1,000
1,000
25
500 &c.
100
1,000
1,000
100
1,000
1,000
l.OOO&c
100 &c.
1,000
50

1877
1872
1,000
1860
1879
1,000
1873
1876 50Ó Ac.
1889
1,000
100
100
1871 500 &c.
1886 500 &c.

$2,403,243
1,211,250
2,675,000
53,000
225,000
90,000
495,000
(?)
1,703,257
609,000
1,777,000
1,500,000
277,000
30,000,000
549,000
4,829,000
5,000,000
500,000
300,000
26,200,000
3,067,000
600,000
400,000
250,000
200,000
400,000
2,000,000
38,000,000
23,650,000
6,382,500
28,435,000

1%
2
5
7
7
6
6 &7
6 S3
6
2
7
6
1%
7
7
7
6
4
1%
7
7
4
4
4
4 g.
6 g.

A. & O.
Cincinnati.
Q.—J . .
do
J. & J N.Y., Kessler & Co.; Cin
M. & S.
do
do
J. & D. N.Y., Am. Exch.Nat.Bk
J. & D.
J & J. N. Y., Bank of America,
J. & J.
J. & J.
Dover, Co.’s Office.
J. & J. Phil., Fid. I.T. & S.D.Co
Q —F.
F. & A.!
M. & N.l
Q—Mch.
M. & N.
do
do
A. & O.
do
do
M. & S.
do
do
M. & S.
do
do
J. & J.
do
do
Q.--J.
., 2f
tang
M. & S.
do
do
J. & D.
do
do
J. & J.
F. & A.
do
do
J. & J.
do
do
A. & O.
do
do
J. & D. Philadelphia, Office.

212
7 g. M. & N.
4 g. J. & J.

do

do

Apr. 1, 1891
April 7, 1891
Jan. 1, 1911
Mch. 1, 1894
Dec. 1, 1909
After 1910
Jan. 1, 1905
July 1, 1921
Jan., 1891
July 1, 1895
May 17, 1891
Aug. 1. 1905
Nov. 1, 1899
Mch. 16,1891
Nov. 1, 1891
Oct. 1, 1894
Sept. 1, 1917
Sept. 1, 1924
Jan. 1, 1940
Apr. 20,1891
Sept. 1, 1907
June 1, 1892
Overdue.
Feb., 1899
Jan., 1898
April, 1896
June 1, 1899
Feb. 16,1891
Nov. 1, 1900
Jan. 1, 1936

The Concord and the Boston Concord & Montreal railroads were con-1 interest on new bonds, which limited to n total of
oao non
ate£ in September, 1889 forming tins company. The Boston Con- \tire^presentlsue aSd lerve^
cord & Montreal preferred (Class I) is entitled to 6 per cent yearly; the ' 321.
y
Hee v - o2, p
Boston Concord & Montreal new stock (Class II, of which there is
31>1891
earnings
$540,400), and old stock (Class III, amounting to $459,600) are entitled $36,293,Janl?ary1 * ° March 1890; net,(3 months), gross$7,144. 8 were
against $38,222 in
$5,217, against
to not exceeding 6 per cent yearly out of any saving which may result ^ In 1890 gross earnings were $150,739; net over surplus and taxes
from the refunding of the present funded and floating debt of the Boston
(V. 46, p. 173; Y. 51, p. 303, 383; Y. 52, p. 80,164, 321, 680,
Concord & Montreal. The Concord stock (Class IV) will receive such 795’)
dividends as may be declared after providing for the other dividends. I Cum berland & P en nsylvan ta.-O w n s from Cumberland Mri
1 "PlAlllDA'Ivf Md., and several branches K mil a« tj.
V/I T /1
m
f7 ¿1_ t +
The consoiidated mortgage was authorized in February, 1890, to fund to Piedmont, T T Q 1 onimnol R n-naLa» ■■■gHi
57
(am ountingt° $1,027,700 June 30, 1890), t o ’ provide operated byConfutationCoal^Company The new first t1 is owned and
for retirement of prior bonds when due, and for improvements. T h e ------ -------| -to refund bonds maturing.“ They are guaranteedg(endonsed1
----- ^-------nisi, 1
Manchester & Lawrence has instituted suit to recover $1,000,000 were issued
by the Consolidation Coal Company—which see. See V. 52. n 390
claimed to be due from the Concord Railroad.
Stock, $1,500,000; par, $100. (Y. 52, p. 390.)
» PIn January, 1891, the New Hampshire Legislature authorized the
C um berland V a lle y .—Owns from Harrisburg, Pa., to Potomac
Issue o f $3,000,000 stock for extensions, improvements, etc.
Dividends—In 1890. on class I. and class IV., 6 p ercen t; in 1891, River, Md., 82 miles (and with leased lines operates to Winchester, a
total distance of 116 miles). It leases—Cumberland Valley & MartinsMay 1, 3.
Report for 1889-90 was in V. 51, p. 568. From April 1,1889, to June burg Railroad, 34 miles; Dillsburg & Mechanicsburg Railroad, 9 miles*
Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad
30,1890 (15 months), gross earnings were $2,775,602; net, $937,272; Southern hilt O.APm
-*
in"ta ar»û kept separate;
j __,
paid interest, $107,638; rentals, “$66,527;" taxes" on capital “ stock! 1 8 miles, but accountsare lru-nt cumn-nntn. total controlled and operated!
.
_1
§89,009; «-u s jis &c., $262,117;itt r tA /tt io __ balance, $411,982 O Tlftri i)v Pp.m
renewals,
stock, $975,800 -----------------^
jt dividends,o&c., m total, $525,300;p. « , - V.' 50, p.'3i3! K S ® ' ^ Pe:nnsylvama P9.i1paq< (Company. and $237,200 preferred is
1 ’ $411,917. (V. 49, 341;
\
W
ii3vivii.Tnfi. Raiiroad common Large advances have been
from which paid
^
made to branch roads. The Southern Pennsylvania is leased for net
422; V. 51, p. 568; Y. 52, p. 349.)
earnings; no interest paid on bonds since March, 1875.
Concord & Clarem ont (N . I I .) .—Owns from Concord to Clare­
Dividends; In 1880 to
per cent yearly;
mont, N. H., 56 miles; branch, Contoocookville to Hillsborough, N H - 1891, both mnlnsivA n.t t1884,10th * cent yearly. from 1885, to April,
»q.+ of Q y
.a
9
f
both inclusive, at rate nf 8 per»
15 miles; leases—Peterboro & Hillsboro Railroad, 18 miles; total oper­
In 1890 gross earnings on the main
ated, 89 miles. Controlled by Boston & Maine, which, with the Boston surplus over fixed charges, $219,989, line were $919,523; net. $251 650against $214,281 in 1889.
& Lowell, guarantees interest on the bonds under lease of Northern RR.
& N o r w a l k .—Owns from Danbury, Conn., to Wilson
Stock, $412,100.
C oncord & P o rtsm o u th .—Owns from Portsmouth, N. H., to HawleyvUle together ’lO ^ U es^ ^ t^ ^ ftra tft6 n^ ^ tmmi?ge^ eld
Manchester, N. H., 4 0 ^ miles, and branch to Buncook, 7 miles. The the H o S o n m for 99’ veana from O d n h W f i
leased to
road was sold to first mortgage bondholders in 1857, and leased to Con- est and 5 per cent per annum o “ stock b
1886’ * 1
to pay mter"
cord Railroad in 1862 for 99 years. Lease rental is $25,000 a year,
t
„
_
■_
•
which gives 7 per cent a year to present stockholders.
W e ste rn .—Owns from Danville, Va., to Patrick Court
C onnecticut & P assu m p sic.—Owns from White River Junction, River, sold’in f(^ closu re in \ ifg u ^ e'l8^9 ^ n ^ n u r c ^ s S ^ ^ + ^ ^ ^ o T
Line, 110 miles ¡ leases, Massawippi Valley and branch ; Richmond & Danville, which guarantees principal and interest of the
<Canada), 37 miles; total operated, 147 miles. Under the lease of Mas- bonds. Stock is $368 600 nar < l 00
R
I
P
interest of the
sawippi Railroad the stock of that company is to receive same dividends !
‘
^
^ A m
^
as are paid on the stock of the lessee. The lessee holds $400,000 Mas- i Q
„
f
l
S
!
?,•~ ° ' V 18 ??aytoi l, °-> to Toledo, O., 141 miles,
sawippi stock not included in the amount outstanding. From January ?
1„
1
Leased May 1,1863, in perpe1,1887, this road was leased to the Boston & Lowell for 99 years on a : S
amended January §3,
basis to pay Connecticut & Passumpsic stock 5 per cent per annum for 1870. The rental is the interest and sinking fund of debt, and 8 per
ton years and 6 per cent thereafter. In October, 1887, the Boston & cent on preferred stock and 3 ^ per cent on $2,396,750 common. Profit
*° leSoS m l885-6,$215,219; in 1886-7. $276,562; in 1887-8, $363,938;
e6
Lowell, carrying this road, was leased to Boston & Maine.
m ln 1889-90, $379,494. Gross earnings in 1889-90,
’
Dividends since 1880—In 1881, 5 per cent; in 1882 and 1883,6; in Si
$1,591,123; net, $692,294; surplus over interest, $554,834. Due
1884, 5 *2 ; in 1885 and since at rate of 5 yearly.
lessees for advances, March 31,1890, $758,405.
Connecticut R iv e r.—Owns from Springfield, Mass., to Keene, N.
H., 75 miles; branches, 5 miles; total, 80 miles. Consolidated with or.D a i t o V & U n io n .—Owns from Dodson, O., to Union City, Ind..
Ashuelot Railroad in February, 1890. From July 1, 1891, to March 31, 32 miles; leases Dayton to Dodsdon, 15 miles; total operated, 47 miles.
1891 (9 months), gross earnings were $849,786, against $820,593 in Operated by Cieveland Cincinnati Chicago & St. Louis, which, jointly
1889-90; net $352,173, against $361,215; surplus over charges, $301,- with the Cincinnati Hamilton & Dayton, owns the capital stock. AD
540, against $304,198. In year ending June 30, 1890, gross earnings surphis earnings over interest goes to a sinking fund for the redemption
were $1,089,372; net income over rentals, interest, &e., $206,400, of bonds at not above 100. Capital stock $86,300; par, $50. In year
against $218,409 in 1888-89. Dividends since 1876 have been at the ending June 30,1890, gross earnings, $156,119; net, $52,559; surplus
rate of 2 per cent quarterly. (V. 50, p. 245, 662; V. 51, p. 171, 3 8 2 . over charges, $16,954.
D ayton & W e ste rn .—Owns from Dayton, O., to State line, Ind.,
*681; V. 52, p. 239, 718.)
^ ases 4 miles to Richmond, Ind. Leased from January l f
=
C on n ectin g (P h ilad elp h ia ).—Owns from Mantua Junction to 18o5, for 99 years, renewable forever, to Little Miami, and carried with
Frankford Junction, Pa,, 7 miles; total mileage including 2d, 3d, 4th that road m the general lease to the Pittsburg Cincinnati & St. Louis.
tracks and sidings, 42 miles. Leased to Philadelphia & Trenton for The lessees, Little Miami and Pittsburg Cincinnati & St Louis, are vir
999 years, and with that road operated by Pennsylvania Railroad. ¿.00 ^ ^ ners-.and 316 answerable for all obligations. Of above bonds
Rental $139,993, which pays 6 per cent on $1,278,300 capital stock $32,000 are 7s.
(par $50)—ownfla by Pennsylvania Railroad.
Decatur Chesapeake & N ew O rleans.—Projected from Deca­
C orn in g Cow anesque &. A n trim .—Owns from Corning, N. Y., tur, Ala., to Gallatin or Nashville, Tenn., of which 34 miles from Ala­
to Antrim, Pa., 53 miles; branch to Harrison Valley, Pa., 32 miles; bama State line northward are completed. Was under construction from
total, 85 miles. Consolidation of several roads in 1873-74. Leased to Decatur, Ala., to Shelbyville, Tenn., 125 miles. In December, 1890,
and operated by the Fall Brook Coal Company, together with 7 miles
5,rier80n>of Shelbyville, was appointed receiver, and in January.
owned. Rental, $150,000, equal to 6 per cent on common stock and 12 moA1’
roa? was ordered sold. See V. 52, p. 80. Mortgage is for
per cent on preferred stock; dividends paid quarterly, March 31, &c. ?
'
- ^oaencan Loan & Trust Company, trustee. Stock author­
Stock—common, $1,500,000, and preferred, $500,000, par $50. »The ized, $3,000,000—$20,000 per mile. (V. 49, p. 760; V. 52, p. 80.)
coal line of Philadelphia & Reading and New York Central is over the . D e la w a r e .—Owns from Delaware Junotion(PhiladelphiaWilmington
road of this company, which jointly with said companies guarantees the & Baltimore), Del., to Delmar (Maryland line), 84 miles; branches, 16
bonds of the Pine Creek Railroad Company. In March, 1891, $180,000 miles; total operated, 100 miles. Opened 1855-60, and leased for 21
bonds were called for payment, reduomg bonds outstanding to $1,070,- years from 1876 to the Philadelphia Wilmington & Baltimore Company;
000. See V. 52, p.27.
rental, 30 per cent of gross earnings, but stock must have 6 per cent. If
In year ending June 30, 1890, gross earnings were $692,762; net, x .'e.
P®* cent is more than sufficient to pay charges and 6
$135,929; deficit to lessee, $28,984. In year ending Sept. 30,1889, dividend, the residue goes to lessee for advances (if any), audper cent
any bal­
surplus to lessee, $3,709. George J. Magee, President, Coming, N. Y. ance is divided equally between lessee and lessor. Of the stock $744,350
—(V. 52, p. 427.)
6»
•
is owned by Philadelphia Wilmington & Baltimore. In year ending OotoC oshocton & Southern.—Owns Coshocton, O., to Zanesville .i— i*1’ .,189? ’ $F°88 earnings were $857,777; net, $132,049; interest,
about 30 miles; completed in June, 1889. Operated by Cleveland & dividends, etc., $148,634; deficit, $16,584, payable by lessee as per lease.
Canton under a verbal agreement. President, J. W. Cassingham, Bos­
D e la w a r e & R o u n d B r o o k , —Owns from Bound Brook (Central
ton, Mass.
8ey) 5° Delaware River, 27 miles;
C ovin gton & M a con .—Owns from Macon. Ga., to Athens, Ga. other, 3 miles: total operated, 34 miles. In branch to Trenton, 4 miles;
connection with Central of
105 miles. Stock, $1,284,000; par $100. Interest defaulted Sept. 1,
t331?
line between
York
1890, and John C. Key made receiver. Road was sold in foreclosure apd Pnuadelphla. North Pennsylvania forms awas leased forNew years
In May, 1879, the property
990
May 21,1891. See Y. 51, p. 383, 680, 795. In Feb., 1891, the bond­ to the Philadelphia & Reading Railroad Company—the lessee paying in­
holders voted to lease the road to the Richmond & Danville or the terest and 8 per cent on stock after May, 1883. Gros «earnings in 1889.
Central of Georgia. The leasees will jointly guarantee 4 ^ per cent $851,092; net over expenses and taxes, $382.013.

%




89




INVESTORS’

SUPPLEMENT

[V ol .

LU,

M a y , 1891.J

RAILROAD STOCKS AND

BONDS.

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered On these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,WTien Due.
Miles Date Size, or
Amount
Par Outstanding Rate Per When Where Payable, and by Stocks—Last
of
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Denver & Bio Grande—( Concluded.)—
Improvement mortgage ($5,000 per mile) g- - - — 1,610
88
Des Moines < Ft. Dodge—1st mortgage, interest guar
£
88
1st mortgage, income, interest guaranteed..
56
Mortgage on extension, interest guaranteed
42
Des Moines&No.—lstM.for$832,000($20,000p.m.)c*
D es Moines Union—1st m ortgage.............................
233
D etroit Bay City & Alp.—1st mortgage, gold........ c
189
Detroit Grand Haven & Mil.—1st equip, mort. gu.c
189
Consol, mortgage, guar, by Gr. Trunk of Can. .c
65
Detroit Hillsdale £ S. W.—St’k,4p. c.rent’l,L.S.&MS
D etroit Lansing d Northern—Stock, common.........
>
Preferred stock........................................................
55
Ionia & Lansing 1st M.,extended in 1889,guar, c
222
D . L. & N. consol, mort. (1st mort.on 167 m .).. .c
43
Saginaw & Western 1st mort., endorsed, gold, .c’
55
Gr. R. L. & D. 1st ($20,000 p.m.) endorsed:........o’
524
Dubuque < Sioux City—Stock.......... ............ -...........
6
43
1st mortgage 2d division..............., ............ - .........
■Gen. mort, for $3,000,000, held by 111. Cent.,g.c&i 143
184
Iowa Falls & Sioux City 1st M., Ia. F. to S. City..
Cher & Dak. and Cedar Rap. & Chic. 1st m orts... 197
116
Duluth South Shore < Atlantic—
6
Marquette & Onton. 1st mortgage, not drawn .. .
Gen. Mort.—1st. M. on Mar. & West., 21 m.......c*

Duluth (6 Winnipeg.-

50
90
78
156
366
383
545

June
Jan.
June
June
Jan.

6 g.
6
6
2
3
3*2
5
7
6 g5
*2
7
5 g.
7
5
5
5 g.

J. & D. N. Y., Fourth Nat. Bank.
J. & J. N. Y., Chic.R.I. & Pac. Co.
do
do
J. & J.
do
do
J. & J.
J. & J. N. Y., Central Trust.
M. & N. N. Y., Central Trust.
J. & J. N. Y., Farm. L. & Tr. Co.
A. & O. NY A g. Can Bk. Com&Lo.
A. & O.
do
do
J. & J. N. Y., Farm. L. &Tr. Co.
Boston.
F. & A.
F. & A. Boston, Of., 50 State St.
J. & J. Boston, 2d Nat. Bank.
do
do
J. & J.
do
do
J. & J.
M. & S.
do
do
N. Y., Office, 216 B’way.
do
do
J. & J.
do
do
J. & D.
do
do
A. & O.
do
do
J. & D.
A. & O. N. Y., Office, Mills Bldg.
New York City.
J. & J.

8
6
6
6
5
5
4
5

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

& D. N. Y., Chase Nat. Bank.
do
do
& S.
do
do
& D.
do
do
& O.
do
do
& J.
New York City.
& D.
& A. New York or London.
& J. Phil. ,Gua.Tr. ASafeDep.

June
Mch.
June
Apr.
Jan.
June
Aug.
July

1,200,000

672.000
740.000

5 g.
4
2*3
4
5 g.

1,000
1883
1,000
1878
200 &c.
1878
100
100
100
1,000
1869
1877 500 &c.
1,000
1883
1,000
1887
100
iéè'4 500 &c.
1888
1869 50Ó &c.
1888
1887 1.0Ö0&C
1,000
1888

2,5ÓÒ,ÒÓÓ
2,000,000
3.200.000
1.350.000
1,825,600
2.510.000
770.000
2.672.000
566.000
1.108.000
8, 000,000
586.000
1.295.000
2.339.500
3.930.000
4.531.000
0)

1872 100 &c.
1,000
1878
1,000
1883
1,000
1885
1,000
1887
1,000
1888
1890 100 &c
1,000
1889

1.380.500
576.000
1.500.000
1.400.000
4,000,000
3.800.000
(D
1.600.000 1

$8,050,000
1, 200,000

$500
1888
1874 • 1,000
1,000
1874
1,000
1881
1,000
1890

D ela w a re & H u d s o n —(See Map.)—Owns, canal from Rondout, N. Y .;
-to Honesdale, Pa., 108 miles; completed in 1828. Also owns the followin g railroads, viz.: Lackawanna &Susquehanna—Ninev en, N. Y ., to J oner«on Junction, Pa., 22 miles; Valley RR.—Carbondaleto Scranton, Pa., 17
miles; Gravity RR. (4 feet 3 inch gauge)—Olypbantto Honesdale, 56 miles;
.Schenectady &Mecbanicville—East Glenville to Coons, N. Y., 10 m iles;
Gherry Valley Sharon & Albany—Cobbleskill to Cherry Valley, N. Y., 21
miles; Schenectady & Duanesburg—Schenectady to Duanesburg, 14
miles; Adirondack RR., 57 miles; total owned, 197 miles.
Leases: Albany & Susquehanna—Albany to Binghamton, 142 miles;
N ew York & Canadar-Whitehall, N. Y., to Rouse’s Point, N .Y ., 113
miles, and branches, 37 miles; Rensselaer & Saratoga and leased lines
Albany, N. Y., to Lake Champlain, N. Y., and branches, 192 miles;
Utica Clinton & Binghamton and Rome & Clinton, sublet to New York
Ontario & Western, 44 miles; Union Railroad—Green Ridge to Wilkesbarre, Pa., 20 miles; other lines, 4 miles, and Jefferson Railroad (truck­
age)—Jefferson Junction to Carbondale, 35 miles. Total controlled, 727
miles, but only 686 operated in Delaware & Hudson system.
This company was chartered April 7,1823. It is among the largest
miners and carriers of anthracite coal. In June, 1889, the Adirondack
Railroad (60 miles) was purchased.
| % 't ,
„„A
Of the Rutland Railroad stock Delaware & Hudson owns $3,000,000
preferred and $1,000,000 common.
The Delaware & Hudson stock was increased to $30,000,000 to pay oft
the bonds due in 1884 and 1891. Of this the $5,500,000 in treasury was
issued at 75 to stockholders ot Oct. 15,1890. The proceeds, together with
the $25 per new share appropriated from surplus are to be used m retiring
$5,500,000 bonds due January and November, 1891. (V. 51, p._383.)
The Pennsylvania Division bonds cover coal lands, collieries, railroads, canal, equipment and all other property in Pennsylvania.
Dividends since 1880: In 1881, 4*2 5 in 1882, 7 ; m 188S, 7 ; in 1884,
7 ; in 1885, 6; in 1886 and 1887, 5; in 1888, 6; m 1 8 8 9,7 ; m 1890.
l A per cent quarterly; in 1891, March 1 6 , 1 % . __• -,00 k
Price of stock: In 1883, 102*2®112*e; m 1884, 67® 114; in 1885,
66*2® 100*2 ; in 1886, 87*4® 108*2; in 1887, 96*2® 106*2 5m 1888,103®
134; in 1889, 130®156; in 1890, 120®175; m 1891, to May 22
inclusive, 129*4®1395s.
Report for 1890 was in Chronicle, V. 52, p. 319.
INCOME ACCOUNT.
1890.
1889.
1888.
1887.
$
$
Receipts—
$
$
7,800,207
8,652,318
10,622,067
From coal.................. 9,951,163
9,482,975 10,468,674
9,554,221
From railroads.......... 9,189,974
911,968
822,300
552,892
From miscellaneous..
461,507

g.
g.
gg.

1,
1,
1,
1,
1,

1928
1905
1905
1905
1940

Jan. 1, 1913
Nov. 14,1918
Nov. 15,1918
Jan. 5, 1891
Feb. 15, 1887
Feb. 15, 1888
July 1, 1899
Jan. 1, 1907
July 1, 1913
Sept. 1, 1927
Dec. 31, 1888
July, 1894
June 1, 1938
Oct. 1, 1917
Dec. 1, 1935
Oct. 1, 1937
Jan. 1, 1928
1,
1,
1,
1,
1,
1,
1,
1,

1892
1908
1923
1925
1937
1938
1990
1929

Net receipts.....................
Interest and reniais.......

INCOME ACCOUNT.
1887.
1888.
1889.
1890.
$
$
$
$
8,341,796 8,718,682 7,370,459 7,948,767
5,203,419 5,218,419 5,222,375 5,328,494

Balance, surplus.............
Dividends ( 7 per cen t...

3,138,377 3.500,263 2,148,084 2,620,273
1,834,000 1,834,000 1,834,000 1,834,000

Balance after dividends. 1,304,377 1,666,263
314,084
786,273
—(V. 50, p. 1 7 0 , 245, 703, 707; V. 51, p. 172; V. 52, p. 2 0 2 , 280, 707.)
D elaw are M a ryla n d & V ir g in ia .—Road extends from Harring- *
ton to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 51
miles; total, 98 miles. In July, 1885, the company passed into control
of the Philadelphia Wilmington & Baltimore Railroad, and became part
of the Pennsylvania Railroad system. In May, 1891, it was proposed
that the Philadelphia Wilmington & Baltimore should assume the
$600,000 debt due the State of Maryland, paying $215,000 in cash and
$385,000 in a 3 per cent mortgage to run 40 years, redeemable at com­
pany’s option after January 1,1895. See V. 52, p. 498. In year ending
October 31, 1890, gross earnings $207,351; net, $31,941, agamst
$14,839 in 1888-89; deficit under interest, $18,547. (V. 52, p. 498.)
D elaw are & N ew E n g la n d .—This company owns $4,250,000 of
the $5,000,000 Poughkeepsie Bridge Co. stock, $1,600,000 of the Cen­
tral New England & Western (whole issue) and $900,000 Hartford &
Connecticut Western. The collateral trust bonds of 1889 are secured by
deposit of $4,000,000 Poughkeepsie Bridge stock and $1,597,400 Cen­
tral New England & Western stock. Stock, $7,500,000 (par $100) is
held by trustees to preserve unity of system, and trustees’ certificates
issued therefor are dealt in on the market. • President, J. W. Brock,
Philadelphia. (V. 49, p. 82, 654; V. 50, p. 275; V. 51, p. 876.)
D enver & R io G rande.—( See Map)—Owns from Denver City,
Col., via Pueblo, Salida, Gunnison, Montrose and Grand Junction, to
the western boundary of Colorado, where it connects with the Rio
Grande Western to Salt Lake City and Ogden. Branches rim to Leadville, Dillon, Rifle Creek, Crested Butte, Silver Cliff, Chaffee, Aspen,
Ouray and Hot Springs; also from Pueblo to Silverton, via Cuchara,
Alamosa and Durango, with branches to El Trinidad, Española, Del
Norte and Wagon Wheel Gap, etc.; total, January. 1890,1,551 miles.
The standard gauge and road with third rail (completed and under con­
struction) embraces a considerable part of the mileage. In Novem­
ber, 1890, a through standard gauge route was opened between Denver
and Ogden over this road, the Rio Grande Junction (which see) and the
51,
19,602,644 20,729,180 18,947,593 19,180,849 Rio Grande Western. See V. Col.,p. 680. Completed since January,
54 miles; other branches, 16 miles.
13,388,570 14,044,710 12,992,868 13,101,176 1890, Hot Springs to Alamosa,
See V. 50, p. 589.
The former Denver & Rio Grande Railway was foreclosed July 12,
6,079,673
5,964,725
6.684,470
6,214,074
3,511,333 1886, and reorganized as the Denver & Rio Grande Railrooa.
3,426,829
3,340,336
Taxes and rentals___ 3,303,768
The Rio Grande Junction Railway is leased jointly by this company
2,568,340 and the Colorado Midland, and its bonds guaranteed.
3,344,134 2,537,896
2,910,303
Of the consolidated gold bonds (United States Trust Company, trus­
, 7 0 3 ; V. 51, p. 383, 569 753, 910 ; V. 52, p. 202, tee) $6,382,500 were reserved to retire the prior bonds when due. See
3 1 0 761.)
mortgage in Chronicle, V. 47, p.
D elaw are L a ck a w a n n a & W e ste rn .—(See Mop,).—
-This com­ abstract of 1888, the improvement mortgage 228. $5,000 per mile was
In June,
for
pany operates under lease an extended system of roads in New York, issued for laying third rail and for other improvements; trustee. United
Pennsylvania and New Jersey. Owns from Delaware River (N. J. Ime) States Trust Company. See V. 50, p. 422, 589. Mortgage abstract in
to New York State line, 115 miles; branches—Scranton to Northumber­
„
QO
O
land, 80 miles; branches to Winton, Storrs, Keyser Valley, etc.. Pa., 17 Chronicle, V. 47, p. 229. stock: In 1887, 2*2 per cent; in 1888, _____
Dividends on
miles ¡leased Unes in New York—New York Lackawanna & Western cent in cash and preferred subsequently redeemed m cash; in2*2 per
1*4 in scrip,
1889,
Railroad, 214 miles ; Cayuga & Susquehanna Railroad 34 miles ; Greene
August, 1*2; in 1891, F®bruarv 16, 2 2 =„ „ a=
Railroad, 8 miles ; Oswego & Syracuse Railroad, 35 miles ; Utica Chen­ nil; February, 1890,1*4;since reorganization: In 1886,1U4® 35^ (assess­
Price of common stock
ango & Susquehanna Valley Railroad, 97 miles; Valley Railroad, 12
miles ; controls and operates—Syracuse Binghamton & New York, 81 ment paid); in 1887, 20*2®323t; in 1888,15®23; ml889,14%:®18*2; m
„
miles ; leased lines in New Jersey—Chester Railroad, 10 miles ; Morris & 1 890,14*2®2178; in 1891, to May 22, inclusive, 16*4®20%.
Price of preferred stook: In 1886, 53;%637 ; m . J®87, 5278®6838; ***
8
Essex, 120 miles; Newark & Bloomfield, 4 miles; Warren Railroad, 18
1888, 43*4®55%; in 1889, 42*4®5278; in 1890, 45®61*2! *n 1891, to
miles ; Sussex, 30 miles ; Passaic & Delaware and extension, 22 miles ;
May 22, inclusive, 55®6378.
.
, E__
total operated, 900 miles.
N f r ' y ajfk
_ 0„ 0 I
From Jan. 1 to March 31,1891 (3 months), gross earnings on 1,575
Formerly paid 10 per cent dividends, but in the dull times i8 7 b to
1880 no dividends were paid; in 1880 3 per cent was paid; in 1881. 6%; miles were $1,813,055, against $1,741,203 on 1,496 miles in 1890; net,
$621,372.
,
.. .
in 1882,1883 and 1884, 8; in 1885, 7% ; from 1886 to April, 1891, both $453,836, against hereafter end June 30. Report' for 1889 at .
Fiscal year will
length in
Inclusive at rate of 7 per cent per annum.
.
Chronicle V. 50, p. 520. The figures for 1890 below are official.
Price of stock—In 1880,68*2® 110*4; in 1881,107® 131 ; m 1882,116*4
1887.
1888.
1889. *
1890.
@150*4; in 1883,111*2®131*2; in 1884, 86%®133*s; in 1885,825s®
1295s; in 1886,115® 144; in 1887,113*s® 139*2; in 1888,123*2l45*s;
8,046,603 8,875,786
in 1889, 1345s®151; in 1 890,1233s®149*2 5 in 1891, to May 22, in­ Gross earnings.................. 7,983,419 7,668,654 3,332,410 3,674,160
Net earnings...............
*3,283,369 2,563,972
clusive, 131@1403s.
■
On the leased lines from January 1 to March 31, 1891 (3 months) ' Disbursements—
1,654,675 1,811,060
gross earnings were $6,157,078, against $5,939,242 in 1890 ; net, $3, Interest on bonds............. 1,405,775 1,492,615
309,955
320,068
345,550
290,933
203,036, against $2,947,918 ; surplus over charges, $1,470,039, agamst Taxes and insurance........
650,375
295,625
t ........ .
Dividend on pref. stock... 1,182,500
$1,284,461.
j
|| f
265,526
240,000
240,906
Betterments....................... 250,524
The report for 1890 was in Chronicle, V. 52, p. 202.
31,780
52,434
40,551
Miscellaneous. . . . . . . . . . . . .
16,609
EARNINGS AND EXPENSES.
1887.
1888.
1889.
1890
2,415,247 2,267,177 3,068,706
T o ta l.................. ........- 3,146,341
Gross rec’ts all sources.. 39,845,857 43,232,422 38,247,622 40,688,645
.
^
^
^
605,460
148,725 t l ,065,233
Surplus.....................
137,028
Onerating expenses....... 30,694,000 33,546,135 30,653,586 32,499,859
* Includes $41,997 other receipts, t From the surplus of 1889 1*4 per
Betterments, equip., &c..
810,061 967,605
223,577
240,019
cent was paid on preferred stock February, 1890.
Total expenses............. 31,504,061 34,513,740 30,877,163 32,739,878 —(V. 50, p. 106, 275, 3 1 2 , 391, 422, 500, » 1 7 , 5 2 0 , 589,706* 770, V»
Net receip ts................... 8,341,796 8,718,682 7,370,459 7,948,767 51, p. 680; V. 52, p. 80,126,762.)




INVESTORS’
SUPPLEMENT.
VoL. L1L




M a y , 1891.]




R A IL R O A D

STO CK S

AND

BONDS

55

56

INVESTORS’ SUPPLEMENT.

[ Y o l . L ll .

Subscribers w i ll confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these T a bles.
Bonds—BrinciINTEREST OR DIVIDENDS.
pal,When Due.
RAILROADS.
Miles Date
jR a t e Per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Dividend.
Outstanding!
Payable
Whom.
Road. Bonds
on first page of tables.
J. & D. N. Y., N. Y. Cent.& Hud. June 1, 1900
$ 2,000,000
7 g.
90 1870 $ 1,000
D unkirk Allegh. Val. & Pittsburg—1st mort., gold.e
Oct. 1, 1900
do
do
A. & O.
900.000
7
1,000
90 1872
2d and 3d mortgages ($200,000 only are 3d M.).c
4
J. & J. Jan., 1885, last paid. July 1, 1903
500.000
30 1873 . 1,000
East Broad Top—ls t mortgage....... --------- - J. & J. Phil., Phil. & Read. RR. Jan., 1891
1,714,950
3
50
36
East Pennsylvania—Stock 6 p.c.gu.999 yrs.PhiL&R.
Mch. 1, 1958do
do
495.000
1,000
4 g. M. & S,
36 1888
New 1st mortgage... — - - — : - - - - ...............£
100 27.500.000
East Tennessee Virginia & Georgia—Common stock.
Dec. 15,1890"
Office, 80 Broadway.
100 11,000,000
1st preferred stock (5 per cent non-cumulative)..
18.500.000
2d preferred stock (5 per cent non-cumulative)..
N. Y.. Chase Nat. Bank. July 1, 1900
J. & J.
3.123.000
7
1,000
Old IstM.s.f. (Bristol,Tenn.,viaChat.toDalton, Ga) 242 1870
July 1, 1930
do
do
3.106.000
1,000
5 g. J. & J.
552 1880
Cons M.,divis’ al,g.,(Bristol,Tenn.,toSelma,Ala.)c
July 1, 1918
do
do
1,000,000
1,000
6 g. J. & J.
95 1879
Aia,. Cent.—1st M., Selma to Meridian, guar....... .c
Nov. 1, 1950
do
do
12.770.000
1,000
5 g. M. & N.
E. Tenn.Va. & Ga. consol. M., g. ($20,000,000) .c&r ,083 1886
June 1, 1937
do
do
4.740.000
1,000
5 g. J. & D.
1st ext. M., g. ($20,000 p. m.)........ . .. ...c & r 237 1887
Sept. 1, 1938
do
do
5.000.
000 5 g. M. & S.
1,000
Impr. and equip, mort. for $6,000,000, gold.c&r ,083 1888
Feb. 1, 1940
do
do
6.000.
000 5 g. F. & A.
1,000
1890
Cincinnati Extension Collateral Tr., guar., g. .c
Dec. 1, 1940
do
do
J. & D.
720.000
1,000
5 g.
1890
General mortgage for $15,000,000, gold— c&r
July 1, 1925
do
do
2 , 000,000
1,000
6 g. J. & J.
66 1885
Knoxville & Ohio—1st mortgage, gold, guar. .c*&r
J. & D. Last paid Dec., 1887. Dec. 1,, 1920
1.725.000
1,000
6 g.
119 1886
East & West Ala.—1st cons. M., g. ($15,000 p. m.) c
1890
492,500
100
214 J. & D, Boston, by Treasurer. Deo. 15 1891
16
Eastern (N. U J—St’k, 4 ^ p.c. renT till 1938,E. Mass,
A. & O, Boston, by Treasurer. Apr. 5 1930
3.000.
000 1
100
94
Eel R iv er- Stock, 2 (to 3) p. c., p a r . b y . W e s t
Nov. 1
5.287.000
1,000
5 g. M. & N N. Y.. Drexel, M. & Co. Mch. 1 1903
165 1888
Elgin Joliet & Eastern—1st M. for $6,000,000 g. .c
3.282.000
1,000
6 g. M. & S. N. Y., Mills Building. Apr. 1 1914
110 1872
Elizabeth Lex. < Big Sandy—1 stM., g., s.f.,not dr.c
&
750.000
1,000
120 1884
6 g- A. & O. N. Y., L92 Broadway. Apr. 1 1914
Elmira Cortland < Northern—1st pref. M., gold..c
6
do
do
&
1.250.000
1,000
120 1884
5 g1st mortgage, gold..................... .......... - -- -- - .......
500.000
5 g. J. & J. N. Y., Nat. Bank Com. July 1 ; 1924
1,000
34 1884
Elmira&Lake Ontario—SodusBay & S o —1st M .,g.c
Phila., Penn. RR. Co. May 1 1891
500.000
50
212 M. & N.
76
Elmira & Williamsport—St’k, com., 5 p. c. ren 1,N.L.
Jan. 1 , 1891
do
do
500.000
50
312 J. & J.
76
Preferred stock, 7 p. c. rental, 999 yrs.,No. Cent.
Jan. 1 , 1910
do
do
J. & J.
1.000.
000 6
1,000
76 1860
Oct. 1 , 2863
1st mortgage..................... - ...................................
do
do
A. & O.
570.000
5
500
1863
Income bonds, 999 years to run . . . . . . . . . . . -----C
Jan. 1 , 1919
240.000
1,000
6 g. J. & J.
' 3Ó 1889
Empire < Dublin—1st M., g. ($320,000) $8,000 pmi,
£
June, 1891
134
Q .-M . N. Y., Union Trust Co.
1,998,400
50
85
Erie < P itts—Stock, 7 p. c. r e n t a l , 999 yrs..PeimCo
&
July 1 , 1898
do
do
J. & J.
7
2.485.000
1,000
81 1868
Consol, mort. free of State tax (for $4,500,000) .o
Sold to a syndicate in 1887, and above mortSage was authoriMd at the
D enver T ex a s & F o rt W o r t h .—See Union Pacific Denver & Gulf. rate of $25,000 per mile for construction and $7,000 for equipment, the
D es M oin es 8c F o rt D od ge.—Owns from Des Moines to Fort Metropolitan Trust Co. of N. Y. being trustee. There are also $3.500,000Dodge, la., 87 miles, with an extension 56 miles to Kuthv eii, connecting of income certificates and the stock is $500,000. There
with Chicago Milwaukee & St. Paul. Common stock, $4,283,100, pre- Minnesota of about506,000 acres. SeeV. 51,p. 875. The Mmn. Iron Co.
feired, $763,500; par, $100. Leased from Jan. 1,1887, to the Chicago owns the stock, the income certifi-cates and $400,000 bonds. Iu 90 gr
Rock Island & Pacific for 19 years at a rental of 30 per cent of the gross earnings were $1,114,678; net, $575,203; surplus over charges and im­
earnings, with a guarantee of 4 per cent interest on the first mortgage provements, $330,744. In 1889, gross,
, n ^ , $434,990,
and extension bonds, and 2*2 per cent per annum on the incomes.
surplus over fixed charges, $209,482. H. R. Bisliop, 15 Broad S .,
V
'
ivfoines 8c N orth ern .—Owns from Des Moines to Boone, Y., President. (V. 50, p. 71; V. 51, p. 875.)
D u lu t h B e d W i n g 8c S o u t h e r n .—Projected from Duluth via
Iowa, 42 miles. Successor to the St. Louis Des Moines & Northern,
sold in foreclosure Nov. 22, 1889, and made standard gauge. Stock Red Wing. Minn., and Sioux City, Iowa, to a point opposite Omaha, Neb.
authorized, $5,000,000; outstanding, $832,200; par $100. From Jan. Under construction from Red Wing southerly. T r u s te ^ f mortgage is
1 to March 31, 1891 (3 months), gross earnings were $24,087, against Central Trust Company. President of Company, F. W. Hoyt.
$20,034 in 1890, net, $7,419, against $3,690.
D u lu th South Shore 8c A tla n tic .—Operates Duluth to Sault
D etroit B a y City 8c A lpena.-O w ns from Alger, on Michigan Ste. Marie, 411 miles (of which 44 miles from Duluth to I™n R iw r is
Central Railroad, to Alpena, 105 miles; Loon Lake Branch, 29 miles. used in common with Northern Pacific) ; Soo..
« J iifS t o ^ a r ie
Q
Mud Lake Branch, 21 miles; other branches, 78 miles; total road, ¿33 43 miles; other lines, 135 m iles; total, 589 miles. At Sault Ste. Marie
miles. Has a traflic contract with Michigan Central. Stock authorized connection is made by bridge with the Canadian
is $2,000,000; issued, $1,670,000; par, $100. A dividend of 4 per cent judicial sale October 20,1886, the Detroit Mackinac & Marquette Rafi
was paid January 3,1888, and of 2*2 per cent February 10,1891.
road and property. The Marquette Houghton & Ontonagon Railroad.
From Jan. 1 to April 30 (4 months), in 1891, gross earnings were 160 miles, was leased in perpetuity, but in 1890 the l e a s e | i i 8 S u th
^
$159,123, against $175,397 in 1890; net, $66,633 against $85,022; and all the company’ s property, except its franchise, sold to the Duluth
in 1890 gross earnings, $523,037; net, $217,394; interest, $150,000; S o u t h ] k h o r e S i c * , which assumps its debt and ^ ves new consol*
dividend (212 per cent), $41,750; surplus, $25,644. D il8 8 9 gross, in exchange for its stock. See abstract of first mortgage, V. 45, P- 274.
*487.209; net, $196,418; surplus over charges, $46,418. (V. 48, p. 189,
In JulwS
1888, a controlling interest in the Duluth South Shore & Atr
lantic stock was sold to Canadian Pacific parties. Common stock is
V. 50, p. 174, 735; V. 51, p. 113; V. 52, p. 330.)
$12,000,000; preferred, $10,000,0 0 0 ; par both
D etroit G rand H a v e n 8c M ilw a u k e e .—Owns from Detroit,
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of the is 6 per cent, non-cumulative. Car trusts August, 1890, $520,325 at o
Detroit & Milwaukee, which was sold in foreclosure September, 1878.
The bonds are guaranteed by the Grand Trunk of Canada, which m P^ h e first coMoSdated.8mortgage of 1890 has
1889 offered its 4 per cent debenture stock in exchange for them, $500 guaranteed by Canadian Pacific. The amount authorized by it is
120,000,000 on the 580 miles now or hereafter’ o^ned, and $!g jjW & g «
(£100) bond for £118 stock. Stock, $1,500,000; par, $50.
From Jan. 1 to March 31,1891 (3 mos.), gross eammgswere £54,247, mile of newlines in excess of 580 miles. Of this $20,000,000 there
against £50,987 in 1890; net, £8,117, against £6,602. Gross earnings were reserved $12,656,000 bonds to retire at or before maturity all the
in 1890, £232,772; net, £55,271; deficit under interest, £16,891, against prior bonds, $3)308,000 to exchange for Marquette Houghton & Onton­
agon stock and $3,342,000 to build 35 miles of road from Iron River
£19,131 in 1889.
to a point 6 miles east of Superior, Wis., for terminals, to pay floating
D etroit H illsd a le 8c Sou th w estern .—Owns from Ypsilanti,
Mich to Bankers, Mich., 65 miles. The Detroit Hillsdale & Indiana d6From January'l5to A p rif30,1891 (4 months), gross earnings on 571
road was sold in foreclosure Jan. 28,1875, and this company organized miles were $486,496, against $497,631.on 565 miles in 8 .
lg8&
bv the bondholders. Leased in perpetuity from July 1,1881, to the Lake
In 1890 gross earnings were $2,241,097, net, $818,393, in i»a u
Shore &Michigan Southern Co.; the rentalis $54,000per year—4 per cent, gross, $1,9’H5,350; net, $829,474. (V. 49, p. 2 1 ; V. 50, p. 622, 874.)
D etroit L a n sin g 8c N orth ern .—Owns from Grand Trunk Junc­
D u lu th 8c W i n n i p e g .—Owns road completed from Cloquet on
tion Mich., to Howard City, Mich., 157 miles; branches—Stanton Junc­ St Paul & Duluth (27 miles, from City of Duluth) northerly, 81 miles.
tion to Big Rapids, Mich., 63 miles; Belding Branch, 1 ^ miles; total Extensions under Construction. North Star Construction Company of
owned, 222 mues. Leases: Grand Trunk Junction to Detroit, 3 miles;
Tensing to North Lansing, 1 mile; Saginaw & Western RR.—Alma to
Howard City, 43 miles; Grand Rapids Lansing & Detroit R ailroad - N Y to Titusville, Pa., 91 miles. A consolidation of the Dunkirk Warren
Grand Rapids to Grand Ledge, 53 miles, and branch, 2 miles; total, 323
Leased
miles; also operates Saginaw Valley & St. Louis, 45 miles, and pays & Pittsburg and Warren & Venango in 1872. accountsfor 400 years from
1873 to N Y Central & Hudson River Co., but
are kept separate.
interest on its debt, but reports earnings separately. The Detroit Lans­ Rental is interest on bonds. Capital, $1,300,000; par, $100. The N.Y.
ing & Lake Michigan was foreclosed in 1876 and this company formed. C & H R Co. holds $2,324,600 of the securities. In 1890 gross earnDividends on common stock since 1879—In 1880,6; in 1883,6; in 1884,
1889.
.
6 • in 1887, 3 ; in 1888 and 1889, nil. On preferred stock in 1879, 9*2 iPgt, $249,327; net,p$58,723, against $20,911 i nUnion, Pa., to RobertsDust B roa d T o (P a .)—Owns from Mount
per cent; from 1880 to 1884, inclusive, 7 per cent; in 1885,5*2; in 1886, dido Pa., 30 miles, Mid leases branch to Stair Mine, 9 miles; total, 39
•in 1887, 7 ; in 1888, 3*2; in 1889 and since, nil. The sinking fund miles. A coal road, opened in 1874. The stock is $815,602; par, $50.
holds $210,000 of the Detroit Lansing & Northern 7s and $20,000 of In 7 months ending June 30,1889, gross eamm gswere $62,875; net,
the Ionia & Lansing 5s given as outstanding in the table.
In 1887-8§,
From January 1 to March 31, 1891 (3 month), gross earnings were $4 270? P e n n s y l v agross, $121,261; net, $18,195.
F ast
n ia .—1 wns double track from Reading, Pa., to
O
$263,494, against $266,732 in 1890; net, $65,547, against $64,237; Allentown, Pa., 36 miles. Leased for 999 years from May 1,1869, to the
deficit under charges, $13,336, against deficit of $14,647.
In 1890 gross earnings were $1,219,663; net, $392,799; mterest,$225,- Philadelphia & Reading RR. at a rental of 6 per cent per annum on the
400; rentals, &c.,$93,293; surplus,$74,166, ag’stdeficitof $6,712inl889. stock and interest on the bonds. Austin Corbin, President, Philadelphia.
F a st Tennessee V irg in ia 8c G eorgia B a ilw a y .—(See Map)—
- (V .5 0 , p. 244,483, 6 6 1 i 662, 801; V. 51, p..20,171,279, V. 52,p .4 9 7 .)
Tenn., 242 miles;
D ubu qu e 8c Siou x City.—Owns from Dubuque, Iowa, to Iowa Owns: Bristol to Chattanooga,264 miles; Selma toMorristown to Unaka,
44m iles; Cleveland to Selma,
95 miles,
Falls, 143 miles ; Iowa Falls to Sioux City, 184 miles; Manchester to Elizabeth, Ala., to Akron, 53 miles; Rome, Ga., to Lauderdale, miles (18
Macon, 159
Cedar Rapids, 42 miles; Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; miles jointly with Georgia Pacific); Macon to Brunswick, 190 miles,
total, 524 miles*. Also leases Cedar Falls & Minnesota, 76 miles. In branches to Savage Creek, &c., 70 miles; Rome to Attalla, Ga., 62 miles;
April, 1887, a controlling interest in the stock was sold to Illinois total owned, 1,179 miles; trackage (Mobile & Ohio) Lauderdale to Merid­
Central and in February, 1891, the road was leased to that company, ian i s miles; total June 30, 1890, 1,197 miles. Also leases the
the rental being net earnings and the lease being terminable on 60 days Knoxville & Ohio Road, 66 miles, and controls the lmes of the Memphis
notice. See V. 52, p. 350; V. 51, p. 493.
& Charleston Railroad from Chattanooga to Memphis, Tennessee.
In 1887 the Dubuque & Sioux City RR. Co. began a suit to annul the 310
Somerville branches, 20 miles; the Mo­
lease of the Cedar Falls & Minnesota Railroad. Under a cross bill in the bile miles, and the Florence and the Cincinnati New Orleans & Texas
&
150 miles;
U S. Circuit Court in Chicago, that Court decided the lease valid as PacificBirmingham, to Chattanooga, Tenn., 336 miles; the Alabama
Cincinnati
against the Dubuque & Sioux City Co., but that the Illinois Central Great Southern, Wauhatchie, Tenn., to Meridian and branch, 295 miles;
Railroad Co. is in no way bound to the Cedar Falls & Minnesota Co. the Louisville Southern, 124 miles; making a total of 2,500 miles.
The Dubuque & Sioux City Company has given notice of appeal to the
Organization , E tc.—This road, the East Tennessee Virginia &
Supreme Court of the United States.
Railway, was formed in 1886 as successor of the East Ten­
Stock is $8,000,000. See V. 47, p. 440, Illinois Central owns $7,897,- GeorgiaVirginia & Georgia Railroad, which was sold m foreclosure
nessee
*300 stock and all the 5 per cents; also all the Cherokee & Dakota and May 25, 1886. Control of the stock is supposed to be held m the inter­
Cedar Rapids & Chicago 5s, due in 1935, which are pledged as part est of the Richmond Terminal, which itself held on November 30,1890,
security for its 4 per cents of 1952.
From July 1,1890, to December 31 (6 months), gross earnings were $8 783 200 first preferred, $6,536,000 second preferred and $5,880,000
*1,204,851, against $1,037,405 in 1889; net,$340,078, against $322,516. common, of this $8,283,200 first preferred and $4,225,000 second pre­
___
*
under its
In year ending June 30, 1890, gross earnings were $1,909,924; net, ferred being pledged Ohio was trust deeds.99 years from 1889 and its
The Knoxville &
leased for
$476,926. Deduct interest, $484,538; loss on Cedar Falls & Minnesota,
bonded interest guaranteed by the rental.
_ ,.
*189,170, leaving a deficit" balance of $196,783. (V. 48, p. 489; V. 50,
In April, 1890, acquired an interest in the Alabama Great Southern
p. 4 2 1 ; V. 51, p. 493; V. 52, p. 350, 427.
ri+A rT
D u lu th 8c Ir o n R a n g e ,- Owns Duluth to Ely, Minn 11 HmilAa oT T Tw Ttnrrtbn.Ro of stock. See Cincinnati New Orleans & Texas Pa-




BONDS
AND
STOCKS
BAILROAD
V
Ma t , 1801.]



58

INVESTORS’

SUPPLEMENT.

[V

ol.

LU.

Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f a n y error discovered"!n tbese T ables.
RAILROADS.
Bonds—PrinciINTEREST OR DIVIDENDS.
Miles Date Size, or
— pal, When Due.
Amount
Par
For explanation of column headings, &c., see note8 of
of
Outstanding Rate per iW hen1 Where Payable, and by • Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Erie dè Pittsburg.—(C on.)—Equipment bopds........c
81 1870 $1,000
$685,000
7
N. Y., Union Trust Co. Oct. 1, 1900
General mori, for $4,500,000 series A, g., guar...
1,000
81 1890
(6
4 g.
July 1, 1940
do
do
Eureka Springs—1st mortgage, gold.................... .c
1,000
19 1883
500,000
6 g.
N. Y., Mercantile Tr. Co. Feb. 1, 1933
500
2d mort. ine. bonds, 3 p. c. interest paid in 1890.
1883
500,000
4
do
do
Feb. 1, 1933
European < North Am.—Stock 5 p. c. rental, M. C .. 114
&
100
2,500,000
2*2
Bangor, Treas. Office. Apr. 15, 1891
1,000
Evansville A Indianapolis—T. H. & Southe.lst M.c*
40 1879
260,000
7
N. Y., Farm. L. & Tr. Co. Sept. 1, 1909
1,000
Evansville & Indianapolis 1st mortgage, gold..o*
54 1884
697,000
6 g.
do
do
July 1, 1924
1,000
Consol, mortgage (for$2.500.000) gold, guar.c* 135 1886
1,582,000
6 g.
do
do
Jan. 1, 1926
Evansville < Terre Haute—Stock
£
50
3,000,000
1*2
N. Y., Farm. L. & Tr. Co. Apr. 27, 1891
1,000
1st consolidated mortgage, gold......................... c*
144 1881
3,000,000
6 g.
do
do
July 1, 1921
1,000
Mt. Vernon Branch 1st mort. g. ($15,000 p. m.).c*
25 1883
375,000
do
do
Apr. 1, 1923
A g1,000
Sullivan County Coal branch 1st mort. gold___c*
30 1890
450,000
do
do
5 gApr. 1, 1930
1,000
Evans.&Rich.lstM. West D iv.,for$l,000,000 gu-c’ 100 1888
1,000,000
N. Y., Manhat’n Tr. Co. Sept. 1, 1928
5 «•
1,000
do Eastern Division. IstM . for $1,0ÖÖ,0Ö6.C*
1890
(6
5 g.
New York City.
Sept. 1, 1930
1,000
Evansville Terre H. < Chic.—1st M., g.,int. guar, .o*
6
55 1870
775,000
N. Y., Farm. L. & Tr. Co. May 1, 1900
6 g.
1,000
2d mortgage, gold................................................. c*
55 1872
325,000
do
do
Jan. 1, 1900
Incomes.................................................................
1881
150,000
? gdo
do
May 1, 1920
l’òdo
Findlay Ft. Wayne < West.—lstM.,g.,$18,000p.m.c*
£
80 1890
342,000
N. Y. Office, 10 Wall St. July 1, 1940
5 g.
100
Fttchbiirg—Common stock..........................................
7,000,0003
100 16,497,600
Pref. 4 per cent stock, non-cum...............................
' 2
Boston, Office.
J a n .15,1891
’74&’7 1,000
Bonds, $500,000 are 6s, due Oct. 1,1897............c
1,000,000
6&7
do
do
Ap.’94&Oc.’97
Bonds,$500,000 yr’ly,’99to 1903 inch, ba!.1908.c*
’80-’88 1,000
4,500,000
5
do
do
Var.’99 tol908
Bonds.................................................. ....... . . . . . . .
1889
750,000
5
do
do
Mch. 1, 1899
Bonds to State of Mass. (3 p. c. int. till 1892).
1887
5,000,000
3 to 4
do
do
Feb. 1, 1937
1,600
1887
Bonds.......................'O
f—
......................... c&r
2,250,000
4*2
do
do
Sept. 1, 1897
1,000
1890
Bonds....................................................................
500,000
5
do
do
June 1, 1900
’84-’ 87 1,000
Bonds ($1,500,000 due 1907, interest A. & O)
2,500,000
4
do
do
1904-5-7
1,000
1890
Bonds................ ............ ...........................................c
500,000
4
do
do
June 1, 1920
Boston Barre & Gardner 1st M., $91,300 are 7s.
38*2 1873 100 &c.
391,000
5&7
do
do
Apr. 1, 1893
1875
2d & 3d mortgages........... ; ...............................
243,600
3 &6
do
do
July 1, 1895
i',6oo
Troy & Boston 1st mortgage, consolidated..........
35 1874
577,000
7
do
do
July 1, 1924
1,000
1883
Boston Hoosac Tunnel & Western debentures..
1,400,000
5
N. Y., Kountze Bros.
Sept. 1, 1913
500 &c.
’76-’78
Cheshire RR. bonds, not M. ,$550,000 due 1898 .c
800,000
6
Boston, Fitchburg RR, July 1, ’96-’98
eifle, also statement concerning Cincinnati Extension bonds below, and
V. 50, p. 560. In July, 1890. leased Louisville Southern for 99 years,
guaranteeing 5 per cent on bonds. (See V. 51, p. 51.)
Stocks and B onds.—Both the first preferred and the second pref­
erred stocks are entitled to a non-cumulative dividend of 5 per cent.
Dividends have been: On first preferred stock in 1887, 4 per cent; in
1888, 5 ; in 1889, 5 ; in 1890, 5.
Price of common stock—In 1886,11®1878; in 1887,9*8®>17; in 1888.,
8® 11* in 1889, 838® 11*2; in 1890, 638® 11*2; in 1891, to May 22
4;
inclusive, 6*8® 8*
4.
Price of first preferred—In 1886,67®83®8; m 1887,52® 82*2; in 1888,
55®83; in 1889, 63®76*2; in 1890, 55®81; in 1891, to May 22 in­
clusive, 52® 66.
Price of second preferred—In 1886, 24®35%; in 1 8 8 7,18®32; in
1 888,17*4®27*2: in 1889, 20®25*4; in 1890,13*2® 27*4; in 1891, to
May 22 inclusive, 14® 19*8.
Besides the bonds of the Knoxville & Ohio in the table above the com­
pany guarantees $3,000,000 Mobile & Birmingham 5 per cents and
$5,000,000 Louisville Southern 5 per cents—see those companies.
The trustee under the consolidated mortgage of 1886 and the first
extension mortgage of 1887 is the Central Trust Company of New York;
$7,325.000 consolidated bonds were reserved to retire prior bonds of
the Alabama Central RR. and the East Tennessee Virginia <eGeorgia.
t
The mortgage of 1888 for $6,000,000, covering all the company’s
property (Central Trust Company, trustee), provided for new equip­
ment, improvements, &c.
The Cincinnati Extension bonds of 1890 were issued jointly by this
company and the Richmond & Danville, and are guaranteed, principal
and interest by the Richmond & West Point Terminal. They are further
secured by a deposit of £340,000 6 per cent preferred A shares and
£783,010 ordinary B shares of the Alabama Great Southern. There is
also to be deposited for them $500,100 stock of the Cincinnati New Or­
leans & Texas Pacific, and pending such deposit $500,000 in cash. • See
abstract of mortgage in V. 52, p. 83.
In January, 1891, was executed the general mortgage for $15,000,000, proceeds to be used in building branches, double tracking, and re­
tiring $4,470,000 extension bonds of 1887, whole issue not to exceed
$20,000 per mile.
E arnings, &c.—From July 1 to March 31 (9 months) in 1890 gross earn*
ings on 1,359 miles (not including Knoxville & Ohio) were $5,270,005»
against $4,889,656 in 1889 on 1,131 miles; net, $1,743,742, against
$2,006,855. For same period net earnings of Knoxville & Ohio were
$217,106, against $165,382 in 1889.
The fiscal year ends June 30. The annual report for 1889-90 was in
full in the Chronicle, V. 51, p. 607, 610, and a review of operations for
year in V. 51, p. 290. The results do not include the operations of
the Knoxville & Ohio, which in 1889-90 showed fiet earnings of
$208,913 and a deficit under charges of $48,545.

123 miles, and branches Aurora to Normantown, 9 miles—Walker to Cos­
ter, 111.—32 miles; total, 164 miles. This is a belt line on a large scale,
crossing, or intended to cross, at a distance of about 30 miles from Chieago, all the roads approaching that city, and affording facilities
for transfer of freight from one line to another without breaking
bulk. Also, reaches the coal fields of Grundy County. The
first mortgage (trustees Union Trust Company and J. W. Butler) pro­
vides for $6,000,000 bonds at $30,000 per mile for single track,
$10,000 per mile additional for second track and a further $5,000 per
mile for real estate, &c. Stock is $6,000,000.
From January 1 to March 31 (3 months) in 1891 gross earnings
were $154,172, against $134,324 in 1890; net, $56,692, against $56,051.
In 1890 gross earnings were $591,523; net, $206,546. In 1889 gross
were $296,472; net, $60,901. President, Samuel Spencer, New York.—
(V. 52, p. 350.)
E liz a b e tb to w n L ex in gton & R ig Sandy. — Operates from
Huntington, West Va., to Lexington, Ky., 139 miles, of which from
Ashland to Straits Creek Junction, 21 miles, and from Huntington to
Big Sandy River, 9 miles, are leased. From February 1,1886, this road
was leased for 250 yeafs to the Newport News & Mississippi Valley Com­
pany on the basis of paying the annual net surplus, if any, to this com­
pany. Stock, $3,510,700 (par $100), of which the Newport News & Mis­
sissippi Valley Company on January 1,1891, owned $1,055,500. There
are also $489,520 certificates of indebtedness. Sinking fund is $25,000
yearly, but no bonds drawn.
Annnal report for 1890 was in V. 52, p. 497. From Jan. 1 to April 30,
1891 (4 months), gross earnings were $217,509, against $239,989 in ’90.
For year 1890 gross earnings were $816,329; net, $313,044; surplus
over fixed charges, $42,793. " In 1889 gross earnings were $815,830;
net, $282.239; surplus over rentals ana interest, $12,382. (V. 50, p.
4 2 1 ; V. 52, p. 497.)
E lm ir a Cortland & N orth ern .—Owns Elmira, N. Y., to Canastota, N. Y., 119 miles, and leases during corporate existence, Canastota
Northern Railroad, Canastota to Camden. N. Y., 21 miles. Sold in fore­
closure in 1878 and again in February, 1884, and reorganized as at
present.. Of the first mortgage bonds only about $29,000 have been
receiving interest. Stock is $2,000,000; par, $100. In year ending
June 30,1890, gross earnings were $480,416; net, $158,429; interest
on preferred mortgage, etc., $46,470; rentals, etc., $44,254; surplus,
$67,705. Austin Corbin, President^New York City.

^ E lm ir a & L ake O n tario.—Owns from Canandaigua, N. Y., t o 1
Chemung Junction, 64 miles; Sodus Point to Stanley, 34 m iles; other 2
—total, 100 miles. A consolidation in December, 1886, of the Elmira
Jefferson & Canandaigua, the Sodus Bay & Southern and the Chemung
railroads. It is leased at cost of operating to the Northern Central,
which owns $1,499,600 of the $1,500,000 stock and $226,000 Sodus Bay
INCOME ACCOtTNT.
bonds, including $84,000 in insurance fund. Lease may be termi­
1888-89.
1887-88.
1889-90. nated on thirty days’ notice from either party. In 1890 the gross
1,067
Total miles oper. June 30.
1,069
1,197
earnings were $733,447; deficit under operating expenses and taxes,
Receipts—
$
$
$
$25,512; deficit under charges, $54,350, payable by lessee. In 1889
5,301,624
Total gross earnings........
5,109,918
6,412,078 gross, $630,449; deficit under operating expenses, $48,996.
1,924,935
1,834,380
2,288,772
Net income.........................
Disbursements—
E lm ira & W illia m sp o r t.—Owns from Williamsport, Pa., to El­
1,223,852
1,086,993
1,404,743 mira, N. Y., 76 miles. This company was reorganized under the pres­
Interest on d e b t............. .
133,944
126,700
162,845 ent name February 29,1860, and leased to the Northern Central Rail­
Divid’d on is t pref. stock. (5p.c.) 550)000 (5p.c.)550,000
550,000 way for 999 years from May 1,1863, at a rental of $151,500 per annum
after January 1,1880. The dividends on the common stock are 5 per
Total disbursements..
1,763,693
1,907,776
2,117,588 cent and on the preferred 7 per cent. Gross earnings in 1889, $841,404;
B alance.:..........................
70,687
17,139
171,184 net, $187,644; surplus, $14,408. Gross earnings in 1890, $912,682
—(V. 50, p. 71, 276, 437, 452, 519, 560, 662, 703, 834, 904; V. 51, p. 51, net, $148,084; rental, etc., $182,293; loss to lessee, $34,208.
276, 290, 6 0 7 , 6 1 0 , 721, 829; V. 52, p. 80, 83.)
E m p ire & D u b lin .—Hawkinsville, Ga., to Dublin, 40 miles; com­
E ast A W e s t R a ilro a d o f A la b a m a .—Owns Cartersville, Ga. pleted, 32 miles, crossing East Tennessee Virginia & Georgia at Empire,.
to Pell City, Ala., 117 miles; branch, 2 miles. The bonds issued in 1887 Dodge County. Interest on bonds guaranteed till July, 1893, by Empire
retired $800,000 of prior 1st mortgage bonds and $500,000 of deben­ Lumber Company. In December, 1890, Judge Roberts was made re­
tures outstanding. Stock (authorized), $2,000,000 (par $100), issued at ceiver. Stock, $320,000—par, $100.
From July 1 to November 30,1890 (5 months), gross earnings were
$10,000 per mile of completed road. Chas. P. Ball, Cartersville, Ga.,
Receiver, was authorized to issue $650,000 certificates to put the road $16,422, against $6,627 in 1889; net, $8,653, against $3,315. In year
in thorough repair. See V. 48, p. 189. Gauge changed to standard in 1889-90, gross, $25,088; net, $13,352; interest, $6,320; surplus, $7,032.
1890. In year ending June 30, 1890, gross earnings were $112,462
Erie & P ittsb u rg .—Owns New Castle, Pa., to Girard, Pa., 82 miles;
net, $13,014. E. Kelly, President, New York.
branch, Dock Junction to Erie Docks, three miles; trackage (Lake
E astern (H a s s .)—See Boston & Maine,
Shore & Michigan Southern); Girard to Erie, 17 miles; total operated,
E astern (N . H .) —Owns from Portsmouth, N. H., to Seabrook 101 miles. Road opened in 1865. It was leased to the Pennsylvania
rental of 7 per cent on
(Massachusetts State Line), 16 miles. It was formerly leased for 99 Railroad for 999 years from March 1,1870, at awas transferred to the
and the
years to the Eastern (Mass.) Railroad, and a new lease was made from stock and interest on the bonds, October, lease a new mortgage for
Pennsylvania Company.
In
1890,
October 1,1878, for 60 years and 2 months at $22,500 per year, equal $4,500,000 was executed, $3,262,000 being reserved to retire prior
to 4*2 per cent Der annum. M. Currier, President, Manchester. N. H.
bonds and the balance for improvements, &e. The lease has been
E el R iv e r .—Owns from Logansport, Ind., to Butler, Ind., 94 miles. quite unprofitable to the lessees, the deficiency paid by them in 1884
This was formerly the Detroit Eel River & Illinois Railroad, sold under being $307,841; in 1885, $354,633; in 1886, $225,794; in 1887, $287,foreclosure July 6, 1877. Leased for 99 years from April 1,1887, re­ 306 in 1888, $211,063; in 1889. $290,734 ; in 1890, $267,705.
newable forever, to Wabash Western, on the basis of 2 per cent yearly
on the stock till April, 1892, then 2*2 till 1895 and 3 per cent thereafter. FiEureka Springs.—Seligman, Mo., to Eureka Springs, Ark., 18*g
miles; projected to Harrison, Ark., 50 miles beyond. Stock, $500,000;
E lg in J oliet & E a stern .—(See Map)—Owns from Waukegan 111. par, $100. There is a traffic contract with St. Louis & San Francisco.
(two miles east of Elgin), via Spaulding and Joliet, to McCool, Ind., In year ending June 30,1889, gross earnings, $82,840; net, $46,948




Ma y , 1891.]




RAILROAD

STOCKS

AND

BONDS.

59

INVESTORS’

[V ol. LIL

SUPPLEMENT.

Subscribers w i ll confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these Tables.______
-----------------—--------------Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When DueKAILBOADS.
Miles Date Size, or
Amount
Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Flint <•Fere Marquette—Common stock ($3,500,000)
£
Pref. stock, non-cumulative (for $6,500,000).......
Holly Wayne & Monroe 1st M. sink, fund, end. .0
Mortgage 6s of 1920, gold ($5,000,000)...............c
Cónsol. M., g. (for $10,000,000) $20,000 p. m ..c*
Port Huron & Northwestern—1st mortgage...... c
1st M.onPort. Huron Div.,gold,for $3,500,000.c*
' Equipm’t bonds, $40,000 due annually Nov. 1.0
Florida Central < Fen.—1st M. gold, $5,240 p. m.c*
k
Fonda Johnstown & Gloversville—IstM.,s. f. ,not dn. c*
Cons. M. for $500,000 ($300,000 res’d for 1st M.)o
Fort Wayne < Jackson—Common stock.....................
6
Pref. stock (8 p. c.), 5*2 p. c. rental Lake Shore...
Fort Worth < Denv. City—1st M., g., $18,000 p. m.c*
&
Pan Handle RR. 1st mortgage................................
Fort Worth & Bio Or.—1st M., gold, $20,000 p. m.c*
•Galveston Harrisb. < S. Antonio—1st M.,g.,land gr.c*
f
>
2d mortgage, Harrisb. and Houston to San Ant.c*
West.Div. IstM ., g.,SanA.toElPaso,636 m.&br.c*
2d mortgage (see remarks)................................0*
Galveston Houston & Hend. o f 1882—1st M., guar, .c
Georgia Car. < North.—IstM., g. (not drn.) guar..c*
£
Georgia Co.—Tr’ stb’ds,s.f.,dr.at 110 aft.July,92,g.c*
Georgia Midland < Gulf—1st M., g. ($15,000 p.m.)c
&
Georgia Pacific—1st mort., $10,000 p. m.,int. guar.
Con. 2d mort., interest guar.,($9,000 per mile). .c
Con. 2d income, non-cumulative,($9,000p. m.)c&r
Equip, mort., guar. R. & D., g., s. Í., drawn at par
Georgia Bailroaa <•Banking Co.—Stock..................
£
Bonds, not mort. ($300,000 mature in 1922).c*<fcr
Bonds, not mortgage...............................................r

625
625
65
285
384
218
241
597
10

26
98
98
450
ÏÏ3
225
671
671
50
268
"98
566
566
566
307

$3,298,200
6,342,000
1,000,000
3,999,000
1,500,000
104,000
2,976,000
280,000
3,000,000
300,000
200,000
436,132
2,291,416
7,963,000
225,000
2,118,000
4,756,000
1,000,000
13,418,000
6,354,000
2,000,000
5,360,000
4,000,000
1,470,000
5,663,900
5,097,500
5,097,500
2,000,000
4,200,000
2,300,000
200,000

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

1871
1880
1889
1879
1,ÒÒ0
1889
1,000
1887
1,000
1888
1870 100 &c.
1881 100 &c.
100
100
1,000
1881
1,000
1888
’71-’ 80 1,000
1,000
1880
1,000
1881
1,000
1881
1,000
1883
1,000
1889
1,000
1887
1,000
1886
1,000
1882
1888 50Ó &c.
1888 500 &c.
1,000
1889
100
77&80 1,000
1,000
1887

2
8
6
5
7
5
5
5
7

g A.
.
g. M.

A.

g A.
.

M.

g J.
.

J.
A.

6

&
&
&
&
&
&
&
&
&
&

A. East Sag., Mich., Treas.
J. N. Y., Mer. Ex. Nat. Bk,
O.
do
do
N.
do
do
O. N.Y., 1st National Bank
O. N. Y., Mer. Ex. Nat. Bk.
N. Boston, Intem’l Tr. Co
J. N. Y., Am. Exch. Bank,
J. N. Y., St. Nich. Nat. Bk
O.
do
do

Feb. 14,1891
Jan. 1, 1901
Oct. 1, 1920
May 1, 1939
Oct. 1, 1899
Apr. 1, 1939
N ov.l,’91to’97
July 1, 1918
July 1, 1900
Apr. 1, 1921

M. & S. N. Y., Farm. L. & Tr. Co, Mar. 2, 1891

6
5
5
6
7
5
6
5
5
5

g J. & D. N. Y., Union Tr. & Bost, Dec. 1, 1921
.

do
do
do
do
J. & J.
N. Y., Mercantile Tr. Co.
A. & O.
J. & J. N.Y.,Merc.Tr.Co.& Balt.
J. & J. N. Y., 80 Broadway.
J. & J. N. Y., Central Trust Co.
J. & J. N. Y., 80 Broadway,
do
do
A. & O.
do
do
A. & O.
do
do
F. & A.
Q .-J . N. Y., Am.Ex.Bk. & Aug.
do
do
J. & J.
do
do
J. & J.
J. & D.

g- M. & N.
gg
.

»
5 g
.
5 g
.
5 g
.

2%
6
5

July 1, 1929

Boston.

& J.

g J. & J. N. Y., H.B.Hollins & Co. July 1, 1928
.
g. F. & A. N.Y.jSo.Pac.Co., 23 B’rd Feb. 1, 1910

June 1, 1905
May 1, 1931
July 1, 1931
Apr. 1, 1913
July 1, 1929
July 1, 1937
July 1, 1926
Jan. 1, 1922
Oct. 1, 1923
Oct. 1, 1923
Aug. 1, 1904
Apr. 15, 1891
’ 97,1910 ,1922
Jan. 1, 1922

acquired apart oi
E u rop ean & N orth A m erican .—Owns from Bangor, Me., to ] Company hasoutstanding in the tms issue oi uuuas, uuu uuw uuij
Vanceboro (State Line), Me., 114 miles. On August 31,1882, a lease $577,000 are$48,000 Monadnock hands of 5the public. There are also
outstanding
Railroad per cent bonds due July 1,
was made to the Maine Central for 99 years for $125,000 per annum,
■equal to 5 per cent per annum on the stock, and assuming the bonaeu 1897.
Dividends on preferred stock have been: In 1872, 2 per cen t; in 1888,
■debt of $1,000,000 which is given under Maine Central.
2 ; in 1889, n il; in 1890, July, 2 per cent (the dividends on the Troy &
In 1891, Jan.
E v a n sv ille & In d ia n a p o lis.—(See Map Evansville <•Terre Haute) Boston issue being withheld. See V. 51, p. 84.) months), gross 15,2 p. o.
£
From July 1, 1890, to
earnings
—Owns Evansville to Terre Haute, Ind. (via Worthington) , 135 miles ; were $5,150,704, against March 31,1891 (9
$5,007,012 in 1889-90; net, $1,462,179,
branch 6 miles ; leases branch to Brazil, 12 miles ; total 153 miles. A against $1,558,303; surplus over charges, $467,637, against $569^028.
•consolidation in October, 1885,‘of three corporations, viz.: the Evans­
Fiscal year
end June 30.
ville & Indianapolis, the Evansville Washington & Brazil and the Terre was in C h r ochanged to51, p. 414. InThe annual report for 1889-90
n ic l e
the following
Haute & Southeastern RRs. Of the consolidated mortgage bonds, 1888-89 and 1889-90V. for the years ending June 30;the figures for
are
all others for
48800,000 are reserved to meet prior liens. The consolidated bonds are
years ending September 30.
.guaranteed by the Evansville & Terre Haute Co., which owns entire
INCOME ACCOUNT.
capital stock, $2,000,000, as also $547,000 of the other securities.
From July 1 to December 31,1889 (6 months), gross earnings (partly
1889-90.
1888-89.
1886-87.
1887-88.
estimated) were $180,921; net, $92,089; surplus over charges, $11,199. Total miles operated.
369
369
345
369
$
In year ending June 30, 1889, gross earnings were $278,348 ; net,
$
$
$
6,259,533
-$117,062 ; deficit after interest, rentals and taxes, $41,595. (V. 50 p. Total gross earnings.».... 4,569,321 5,463,298 5,747,985
Op. expenses and taxes.. 3,482,654 4,196,605 4,390,792 4,525,605
107, 525.1
E v a n sv ille & Terre H a n te .—(See Map.)—Owns from Evansville
to Terre Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 38 miles ;
Sullivan County coal branch, Farmersburg to New Pittsburg, Ind., and
extensions, 30 miles. Proprietary Lines—Evansville Belt Railway, 10
miles; Evansville & Indianapolis (which see), 141 miles, and leased
line 12 miles; Evansville & Richmond RR., Elnora to Westport, 102
miles; total operated, 442 miles. Has under construction, Evansville
& Richmond eastern division, Seymour to Richmond 65 miles. The
Rockville Extension, 23 miles additional, is leased to the Terre Haute
< Logansport and Chicago
fc
Eastern Illinois for $12,000 yearly.
Evansville & Terre Haute RR. was formerly the Evansville & Crawfordsville Railroad. The Evansville & Richmond bonds are endorsed
with a guaranty of principal and interest. In 1890 a ten-year trame
•contract was made with the Chicago & Eastern Illinois. There are also
«30,000 Evansville & Chicago Railroad consols. Dividends since 1880
—In 1881, 4*2 per cent; in 1884, 5 ; in 1885, 3 ; m 1886, 4 ; from 1887
to 1890, inclusive, 5 per cent per annum; in 1891, January 22, l 1 per
^
«cent ; April 27, l ^ . In May, 1891, it was reported that the stock­
holders would be offered $1,000,000 bonds at 80 and would receive
4B1*000,000 stock as dividends, the latter to represent expenditures for
betterments, & c—(See V. 52, p. 795.) Owns entire stock of Evansville
At Indianapolis, which see.
.
...
From July 1,1890, to April 30,1891 (10 months), gross earnings on
156 miles were $929,179, against $836,209 in 1889 -90.
Fiscal year now ends June 30. LaSt report m V . 51, p. 908.
Gross earnings in year ending June-30, 1890, on 159 miles were
«983.917; net, $516,846; surplus over all interest, dividends and
ïaxes;$171,012. (V. 49, p .6 1 5 ; Y. 50, p. 107, 174; Y. 51, p. 51, 9 0 8 ;
V. 52, p. 762, 795.)

Net earnings.............. 1,086,667 1,266,693 1,357,193 1,733,928
Disbursements—
271,980
281,280
281,280
Rentals paid.....................
^66,011
799,153
762,806
680,388
Interest on debt...............
423,228
8,264
27,875
58,715
Other interest
261,835
Dividends......................... (*4)366,488* (*2)261,836

E v a n sv ille Terre H a u te & Chicago.—Owns from Terre Haute
Junction, Ind., to Danville, 111., 49 miles ; leases 6 miles ; total operated,
55 miles. It uses 6 miles of the track of the Rockville Extension into
Terre Haute ; also leases the Indiana Block Coal Road, 15 miles. On
April 30,1880, a lease to the Chicago & Eastern Illinois was made for
999 years ; terms, $75,000 per annum and the assumption by the Chi­
cago & Eastern Illinois of all rentals and taxes paid by Evansville Terre
Haute & Chicago. Majority of the stock is owned by Chicago & Eastern
Illinois. (V. 48, p. 827.)
F in d la y F o rt W a y n e & W e ste rn .—Owns Findlay, O., to Otta­
w a O , 23 miles, and has road under construction from Ottawa, O., west
■to Fort Wayne, Ind., 57 miles. Successor to the American Midland,
gold in foreclosure in June, 1890. Trustees of mortgage are Washing­
to n Trust Company, of New York, and Allen Zollars of Fort Wayne.
Stock and bonds authorized, $18,000 per mile.
F itc h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass., 50
smiles; Greenfield to Troy, N. Y. 85 miles (including 6 milesleased); Ver­
m ont to Rotterdam Junction, 61 miles ; Boston Barre & Gardner Rail­
road, Worcester to Winchendon, 36 miles ; South Asliburnham, Mass.,
t o Bellows Falls, Vt., 54 miles; branches, 81 miles; Monadnock Rail­
road, 16 miles; total owned, 377 miles; leases and operates—Vermont
& Massachusetts Railroad, Fitchburg to Greenfield, 56 miles ; included
above, 6 miles ; total leased, 62 miles ; total September 30,1890, 439
^ I n 1887 the Fitchburg Railroad Company consolidated with the Troy
.& Greenfield and the Hoosac Tunnel railroads and purchased the Troy
& Boston; and on October 1,1890, it consolidated with the Cheshire
Railroad, five shares of Fitchburg preferred being given for four pf
Cheshire preferred. The Southern Vermont, 8 miles, was purchased m
January, 1891, for $175,000 of 4 per cent bonds.
The State of Massachusetts owns $5,000,000 of the common stock.
The preferred stock is entitled to 4 per cent dividends, then common
iand preferred share equally. The Troy & Boston issue of preferred
•stock has been retired.
, .
, .
^
.
The holders of the Troy & Boston 7 per cent bonds for $1,200,OOO, due July 1,1924, refused to come into consolidation agreement, and
in December, 1890, the New York Court of Appeals, sustaining the posi­
tion of the bondholders, held that the Fitchburg was liable for the prin­
cip a l and full interest of the Troy & Boston bonds. The Fitchburg




Total disbursements.
Balance, surplus.......... .

1,055,727 1,282,219 1,071,961 1,341,232
30,940 def. 15,526 1285,232
292,696

* And s5 of 2 per cent on 10,000 shares.
.^ _
. . .
t Of this surplus, $252,871 went to pay damages caused by fire started
by sparks from locomotive.
—(V. 50, P. 3 6 ,1 7 4 , 207, 560, 833; V. 51, p. 84,171,206,276, 4 1 4 , 609
777; V. 52, p. 322, 608, 718, 795.)
F lin t & F e r e M arqu ette.—(SeeM ap.)—Owns from Monroe, Mich.’
to Ludington, Mich., 253 miles; 11 branches to East Saginaw, Fostoria,
etc 133 miles; Port Huron to East Saginaw, 90 miles; Port Huron to
Sand Beach (3 feet), 70 miles; Palm to Port Austin (3 feet), 35 m iles;
Port Auron to Altmont (3 feet), 34 miles; Zion to Yale (3 feet) 12 miles;
total operated, 627 miles, of which 151 are 3 feet gauge.
Sold August 18,1880, under the consolidated mortgage, and reorgan­
ized In 1889 consolidated with certain branches (see V. 48, p. 222) and.
absorbed Port Huron & Northwestern (see V. 48, P- 260). The consoli­
dated mortgage of 1939 is a first mortgage on 98 miles of road. Trus
^ D ivldeM sA n 8 preferred stock since 1880—In 1881, 2 ^ per cent; in
1882 T ^ n 1883 and 1884, 7 ; in 1885. 5 ^ ; in 1886. 4 ^ ; in 1887, 5 ^ ;
in 1888,’ 7 Mid 5 extra; in 1889, 6 ^ ; in 1890, February 15, 3 per cen t;
August 15, 3 per cen t; in 1891, Feb. 14, 2 per cent.
From January 1 to March 31,1891 (3 months), gross earnings were
«767 095 against $774,835 in 1890; net, $188,079, against $220,112 ;
surplus overcharges, $48,986, against $86,599.
- , v ■■
■
Annual report for 1890 in V. 52, p. 760. In the statement below the
Port Huron Division is included only in 1890.
1887.

$
Total gross earnings 2,572,937
Oper’ f exp&taxls:i’815’283
n
,
,

Net earnings........ 757,654
Deduct—
i s ...
Interest on debt........ 329,194
Dividends.................. 422,500

1888.

$

1889.

$

1890.

$

2,403,074
1,646’424
,

2,370,133
1,623,297

2,923,575
2,042,409

756,650

746,836

332,939
449,470

366,421
558,104
380,520 (5p.C.)317,100

881,166

Total disbursem’nts 751,694
782,409
746,941
875,204
Balance for the year.sur. 5,960 def. 25,759
def. 105
sur. 5,962
iV 47 n 441 625; V. 48, p. 221, 462, 5 5 5 , 633, 855; V. 50, p. 4 2 1 ,
560,"62L) 662, 833; V. 51, pT 51, 240,494,569; V. 52, p. 350, 428, 7 6 0 ).
Central & P e n in su la .—Owns Jacksonville to Chatta­
hoochee 209 miles; Tallahassee to St. Marks, 21 miles ; Fernandina.to
Tam na241 miles ; Waldo to Cedar Keys, 72 miles; Wildwood to Or­
lando 53 miles; Hart’ s Road to Jacksonville, 25 miles; Jacksonville
u S t t ice, Railroad, 3 miles; other, 6 miles; total, 629 miles.
The* Florida Railway & Navigation Railroad in 1888 was sold
and the present company organized. The common stock is
«20 000 000 par $100; 1st preferred, 5 per cent cumulative, $1,582,ooo • 2rt’nreferred 5 per cent non-cumulative, $4,500,000 ; car trusts
(September 10,1890), $54,708, due 1892. The plan of reorganization
was S v 46, p 289. Trustee of mortgage, Central Trust Company,
°F M m h i h 1,1890, to March 31,1891 (9 months), gross earnings on
574 miles were $991,497, against $891,563 in 1889-90; net, $244,543,
agIni l S - 9 0 ’4 oss, $1,171,370; net, $187,454, (against $202,647 in
^
1888-89); hitefest,%152,95Ô ; srâplus, $34,504. (V. 49, p. 300.)

KAILROAD STOCKS AN D

May , 1891,]

BONDS,

6 f

MAP OP THE

I

V

/




Someryille

Ì
: /
Lo*c° y

__ 6 C -

/X

/}( !. Junction

QM Nairy e
\»

f

EVANSVILLE & TERRE HAUTE R. R.
EVANSVILLE & INDIANAPOLIS R. R.
EVANSVILLE & RICHMOND R. R.
EVANSVILLE BELT RAILWAY.
PEORIA, DECATUR & EVANSVILLE RY.
Louisville, Evansville & St. Louis Consolidated.

« 3

INVESTORS’
SUPPLEMENT.
[ Y ol . l i i .




M a y , 1891.J

RAILROAD

STOCKS AN D

63

BONDS,

Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o f an y error discovered in tbese T a bles.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Where Payable, and by Stocks—Last
Road. Bonds Valué. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.

Georgia Southern < Fla.—IstM ., g.($12,000 p.m.)c* 285
&
Grand Rapids < Indiana—Stock............................ c*
6
1st M., Tand grant, g., s. f. (guar, by Pa. R R .). .c* 335
lstM.,g.,($505,000 are land grant s. f. not drn).c* 335
2nd mortgage, redeem, at 105 till Aug. 1,1894.c* 367
General mortgage for $13,000,000..................c &r 367
Mackinaw loan....................................................... . .
Muskegon G. R. & Ind. RR. 1st M. traf. guar.. .c*
37
Great Northern—Stock, pref. (no com. stock issued)
St. Paul Minn. & Man.—Stock (rental 6 p. c. in gold)
St. P. & Pae. 2d M. (1st on St. Paul to Watab......
76
St. P. Min.&Man. lstM .l.gr.,s.f.,g.,dr’n atl05.c* 656
2d mortgage, gold (does not cover lands).......c* 656
Dakota Extension 1st mort.,gold ($12,000 p.m.) 473
Consol, mort., gold ($13,344,000 are 6s).......c&r 2,426
Montana Exteh. IstM.,gold ($25,000p. m.).c*&r 411
Pacific Extension M. for £6,000,000, gold..c*&r
Minneap. Un.RR.lstM.,gold,gu.($550,000 are 5s)
East of Minn. 1st M., g., gu. ($50,000 p. m.) .c*&r
70
Montana Cen. 1st M., g. ($40,000 p. m.) guar.c&r 203
Green Bay Winona & St. Paul—1st mortgage........ e 219
Fundee! coupon bonds........................................... .
2d mortgage income bonds, non-cumulative___r 219
Hannibal < St. Joseph—1st M. Quincy & Pal. RR.c*
&
13
1st mortgage Kansas City & Cameron R R ........ c*
53
Consolidated mortgage for $8,000,000...............e* 292

1887
1869
1869
1884
1884
1886
1862
1879
1879
1880
1883
1887
1890
1882
1888
1887
1881
1886
1881
1867
1867
1881

$1,000
100
1,000
1,000
1,000
1,000
1,000
100
100
1,000
100 &c.
1*000
1,000
1,000
l.OOO&c
£100 &c
$1,000
l,000&c
l.OOO&c
1,000
500
1,000
1,000
1,000
1,000

$3,420,000
J. & J. N. Y., Security & Tr. Co.
6 ë•
e
4,986,081
7 g. J. & J. N. Y., Winslow, L. & Co.
3,934,000
1,441,000
7 g. A. & O.
do
do
M. & N.
3,000,000
6
do
do
M. & S.
4,336,000
5
do
do
275.000
6
750.000
5 g- J. & J. N. Y., Winslow, L. & Co.
20,000,000
IV
N. Y. Office, 40 Wall St.
20,000,000
i v g . Q.—F.
do
do
J. & J.
366,000
7
do
do
4,280,000
7 g. J. & J. New York and London.
8,000,000
6 g. A. & O.
do
do
5,676,000
6 g. M. & N. New York, 40 Wall St.
27,471,000 4V & 6g. J. & J.
do
do
7,468,000
do
do
4 g. J. & D.
£2,000,000
4 g- J. & J. N. Y. & Lon., Baring Bros
$2,700,000 5 & 6 g . J. & J. New York, 40 Wall St.
4,250,000
5 g. A. & 0. N.Y.40Wail; Bos.,Lee,H
6,000,000
6 g. J. & J. New York, 40 Wall St.
F. & A. Coups. Feb. ,’ 89, bought.
1,600,000
6
F. & A. Coups.of Aug.,’89, b’ ght
280,830
6
M. & N.
None ever paid.
3,781,000
8
F. & A. N.Y.,Bk.of No. America.
381,000
8
843,000
10
J. & J.
.do
do
M. & S.
do
do
6,775)000
6

July 1, 1927
Oct.
Oct.
Nov.
Sept.

1,
1,
1,
1,

1899
1899
1899
1924

July
May
May
July
July
Oct.
Nov.
July
June
July
July
Apr.
July
Feb.
Aug.
May
Feb.
Jan.
Moh.

1,
1,
1,
1,
1,
1,
1,
1,
1,
1)
1,
1,
1,
1,
1,
1,
1,
1,
1,

1926
1891
1891
1892
1909
1909
1910
1933
1937
1940
1922
1908
1937
1911
1906
1911
1892
1892
1911

F o n d a J o h n s to w n Sc G loversville.—Owns from Fonda, N. Y., gauge), 22 miles; other lines, 48 miles; total, 566 miles. In Nov., 1888,
to Northville, 26 miles. The stock is. $300,000; par, $100. In year leased to the Richmond & Danville for 20 years from January 1,1889
ending June 30,1890, gross earnings, $227,393; net, $97,318; surplus (with privilege of renewal), the rental to be net earnings, and the Rich­
over charges and 10 per cent dividend, $25,415. .
mond & Danville agreeing to make up any deficiency in these to meet
F o rt W a y n e & J a c k so n .—Owns from Jackson, Mich., to Fort fixed charges, all such advances, however, to be a preferred charge
Wayne, Ind., 98 miles. On August 24, 1882, leased perpetually to next ahead of the income bonds (see V. 47, p. 744).
In March, 1891, arranged to lease the Central Railroad of Georgia
Lake Shore & Michigan Southern at a rental of $126,027, equal to 5V
per cent on the preferred stock, and after 1887 any net earnings over 8 (which see), guaranteeing 7 per cent on stock.
Stock is $8,555,000 (par $100), and $4,378,432 of it is held by the
per cent on preferred stock to be paid as dividends on common stock,
Richmond & West Point Term. Co., which owns also $1,397,621 income
hut not exceeding 2 per cent a year.
5s of 1888, and has deposited them, as well as the stock, as security for
F o rt W o r th Sc D enver City.—(See Map Union Pacific Denver &
G ulf)—Owns from near Fort Worth, Texas, to Texas State line, 454 its collateral trust of 1889. The second consolidated mortgage (trustee,
second mortgage bonds,
miles, and operates Pan Handle RE., 15 miles. The Union Pacific Den­ Central Trust Company) secures $5,400,000 mortgage non-cumulative
and also, subject to these, $5,400,000
ver & Gulf owns $7,766,000 of this company’ s $9,275,000 stock. See incomes, both issued at $9,000 per second The equipment mortgage
mile.
abstract of mortgage, Y. 45, p. 440 (trustee, Mercantile Trust Co. of New bonds of 1889 are payable by a sinking fund and are guaranteed (en­
York.) There are $160,000 equipment bonds. Last annual report was dorsed)
car trusts, payable
in Y. 52, p. 237. In March, 1891, $500,000 new bonds were authfrized Atlanticby Richmond & Danville. There are which provision is at the
Trust Company, New York City, for
made
by the Fort Worth & Denver Terminal Company. The stock of the Pan under the equipment mortgage.
Handle RR. is owned, and its bonds (except $7,000) are held by the
From July 1,1890, to April 30,1891 (10 months), gross earnings on
trustee of the U. P. Denver & Gulf consol, mortgage.
In year ending October 31, 1890, gross earnings were $2,012,518 ; 566 miles were $1,659,433, against $1,478,067 on 518 miles in 1890.
In year
net, $763,120. Deduct fixed charges, $484,080; balance, $279,040. $163,371;ending June 30,1890, gross earnings were $1,762,938; net,
deficit under charges, $499,010. In 1888-89
In 1889, gross, $1,400,077 ; net, $512,128. (Y. 49, p. 720, 788: V. 50, 698; net, $147,244. (Y. 48, p. 609,730, 828; V. 49, p. 235;gross, $1,330,V. 52, p. 462.)
p. 1 7 3 ; V. 51, p. 875; V. 52, p. 23 7, 428.)
G eorg
oad.
B
ng
o m p a n .—Owns from
F o rt W o r th Sc K io G ran de.—Projected from Fort Worth, Tex., Augusta, ia R a ilrAtlanta,ScGa., a n k imiles;Cbranchesy to Washington
Ga., to
171
southwesterly to Kerrville, Kerr County, Tex., 330 miles, with branch, 1 and Athens, 58 miles; Macon & Augusta Railroad (proprietary road),
mile. Completed Fort Worth to Comanche, about 112 miles, in October, Camack, Ga., to Macon, Ga., 74 miles; trackage, 4 miles; total, 307
1890, and under contract to Brown wood, 25 miles beyond, and will be
Owns also
stock
of
built to iron fields in Llano County. See V. 52, p. 81,642. Mortgage trus­ miles. (the Central one-half theGeorgia of the Western Railway andAla­
Railroad of
owning the other half),
has
tee is Central Trust Company, New York. Stock authorized, $3,500,- bama
a one-fifth interest in the Port Royal & Augusta and a thirty-five one
00 0 ; outstanding, $2,118,000; par, $100.
hundredths interest in the Atlanta & West P. (See those companies.)
From January 1 to April 30,1891 (4 months), gross earnings on 113
This company, besides owning the railroad property indicated above,
miles were $70,535, against $35,488 on 90 miles in 1890.
has a banking department. In
In 1890, road being under construction, gross earnings were $194,- miles) and its interest in the otherApril, 1881, it leased its railroad (307
railroad companies
638; net, $91,238; fixed charges, $89,203; surplus, $2,035.—(Y. 51, p. W. M. Wadley and associates, for the Central of Georgiafor 99 years to
and the Louis­
569, 680; V. 52, p. 81, 351, 642.)
ville & Nashville railroads, at $600,000 per year.
G a lv e s t o n H a r r is b u r g & S a n A n t o n i o .—(See Map o f Southern
Dividends since 1880—In 1881, 9V per cent; in 1882, 10V ; from
P acific.)—Owns from Houston, Tex., to San Antonio, Tex., 217 miles; 1883 to 1887, 10; in 1888, 1034 ; in 1889 and 1890, each, 11; in 1891,
LaGrange Extension, 28 miles; branch, 8 miles; leases 12 miles; total, in January and April, each, 2%. In year ending March 31, 1890,
266 miles. Western Extension, San Antonio to Rio Grande River, 630 eouip inv’s income w as: From rental, etc., $600,106; dividend (No. 4)
miles; Eagle Pass Branch, 35 miles. Grand total, 937 miles.
from bank, $100,'000; t > il. $700,103; deduct interest, etc., $180,892;
b
Operated by the Southern Pacific Company, which owns all but $588,- dividends-paid (11 per cent), $162,000; balance, $57,214.. Net earnings
212 o f the $27,093,012 stock (par, $100).
of bank for year were $59,042 and total bank surplus March 31,1890
The first mortgage covers 256 miles of old road and 1,076,331 acres of after payment of $100,000 dividends, was $191,850—(V. 46, p. 245.)
land valued at about $ 1,467,000. It has a sinking fund of 1 per cent, but
From July 1,1890, to March 31, 1891 (9 months), gross earnings of
it is optional with bondholders to surrender their bonds if drawn. The the railroads (307 miles) were $1,522,245, against $1,342,872; net,
Western Division second mortgage 6s are held by the Southern Pacific $584,119, against $423,121. Deficit to lessees on lease was in 1888-9,
Company and by large holders of Southern Pacific securities, who agreed $21,066; in 1889-90, $33,959. Balance due lessee, June 30, 1890,
not to collect interest after July 1,1889, unless it should be currently $781,956.—(V. 51, p. 53 7.)
earned. The interest charges are thus reduced annually by $381,240.
G e o r g ia S ou th ern . Sc F l o r i d a . —Owns from Macon, Ga.,
There is also $101,719 Texas school debt outstanding. Floating liabili­ to Palatka, Fla., 285 miles in all; completed in January, 1890.
ties Jan. 1,1891, $2,485,076 ; floating assets, $832,695.
The road was built by the Macon Construction Co., which was also build­
From January 1 to March 31,1891 (3 months), gross earnings were ing the Macon & Birmingham RR. from Macon to Birmingham, 230
$992,202, against $971,980 in 1890; net, $140,816, against $181,442 in miles, and the Macon A Atlantia from Macon to Savannah, 165
1890. In 1889 gross earnings were $3,937,291; net, $816,957. In 1890 miles. In -1891 Mr. Wilbur F. Sparks, President of this- com­
gross, $4,285,678; net, $917,945; deficit under charges, $214,736.
pany, was appointed its receiver, and also reoeiver of the Macon Con­
• G a lv e s t o n H o u s t o n & H e m le r s o n o f 1 8 8 2 .—Owns from Gal­ struction Company. In May, 1891, he reported that he would be unveston, Texas, to. Houston, Texas, 50 miles. The road was sold in fore­ able to pay the July coupons out of earnings, these having been ex­
closure December 1, 1871, and again August 1,1882. Leased for 99 pended for. varidus purposes, but that he would await the direction of
years to the International & Great Northern RE. Co. and bonds guar­ the Court as to raising funds therefor. (See V. 52, p. 796.) Trustee of
anteed by that company. Stock, $1,000,000 ; par, $100. In year end- mortgage is the Mercantile Trust & Deposit Co. of Baltimore. Stock
iug Oct. 1, 1890, gross earnings were $418,457; net, $69,116. In is $4,275,000; par, $100.
From July l, 1890, to March 31,1891 (9 months), gross earnings on
1888-89 gross $381,922; net, $36,489. In calendar year 1888 gross,
$372,699; net, $28,554; rental of track, $139,455; total net income, 339 miles were $619,291, against $367,990 in 1889-90 on 2 8 5 'miles;
net, $201,286, against $154,791.—(V. 51, p. 609; V. 52, p. 350, 427, 795.)
$168,010; interest, &c., $106,063 ; surplus, $61,947.
G ran d
Pennsylvania RR.)—
G e o r g ia C a r o lin a & N o r t h e r n .—In progress from Monroe, Owns from R a p id s & I n d i a n a .—(See Map
Fort Wayne, Ind.,
N. C., to Atlanta, Ga., 268 miles, of which 118 miles are com­ Branch, 21; other .blanches, to0 Mackinaw C i® 367 miles; Manistee
4 miles; total owned, 428 miles; leases,
pleted and the balance under construction. The line is part of the and operates Cincinnati Richmond & Fort Wayne RR., 86 miles; Tra­
“ Seaboard ” ¡¡Astern, and the bonds are guaranteed (by indorsement oh
'
each bond) by™the Seaboard & Roanoke and Raleigh & Gaston railroad verse City RR., 2 6 h ides; Muskegon Grand Rapids & Indiana RR., 37
companies. They cannot be redeemed before maturity. The Mercan­ miles—149 miles. Togtal, 577 miles. is operated in the interest of the
The Gran l Rapids & Indiana RR.
tile Trust & Safe Deposit Company of Baltimore is trustee of the mort­
gage ; see abstract of same in V. 49, p. 239. Stock authorized, $1,000,- Pennsylvania RR. Co., and $3,934,000 of the 1st mortgage bonds were
guaranteed
First mortgage land grant
000; outstanding but not paid in, $491,933; par, $100. R. F. Hoke, bought (not by. that company. fc of proceeds or land sales. bonds may be
drawn) at 14.0 ou
<
There was in
Athens, Ga., President of the company. (Y. 50, p. 138, 313, 451.)
‘the sinking fund for fifes a January 1,1891, $2,7t>2,780‘ cash and bills
G e o r g ia C o m p a n y .—This company Was formed in 1887 to control receivable. Timy are replaced by 5 per cent bonds issued.. The Muske­
the Georgia Central Railroad & Banking Company, of whose stock it gon Grand Rapids ArEu¡¡liana bonds have a traffic guarantee applicable
owns $4,600,000. Its own stock of $12,000,000 is all owned by Rich­ to their interest payment. Pennsylvania RR. owns all the 2d mortgage
mond & West Point Terminal, and deposited as part sacurity for that bonds except $300,000 held as collateral for the Mackinaw loan. Of
company’ s collateral trust of 1889. Richmond & West Point Terminal the 5 per cents outstanding the company itself on January 1,1891, held
also owns $3,447,000 of the Georgia Company’s collateral trust bonds. $637,900. There is a real estate mortgage for $48,250.
G e o r g ia M id la n d & G u lf.—Owns from Columbus, Ga., to McDon­
The company has a land grant and sold in 1890 38,690 acres for
ough, 98 miles. Incomes, non-cumulative, $105,000. Stock author­ $316,831. Tiie lands unsold on January 1, 1891, were 329,844 acres.
i z e , $2,000,000; outstanding, $1,225,000; par, $100.
The assets $696,628 bills receivable, etc., and $2,056,152 cash.
M om July 1,1889, to February 28,1890 (8 months), gross earnings
From January 1 to March 31,1891 (43 months), gross earnings of the
were $135,092; net, $59,051. New York oflice, 7 Nassau Street.
whole system (567 miles) were $680,897, against $730,064 in 1890;
Georgia Pacific.—(See Map o f Richmond <•West Point Terminal.)— net, $181,918, against $223,419; defloit after charges, $98,093,
£
Atlanta, Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer, against deficit $36,892.
Ala., 19 miles; small branches, 18 miles; Deer Creek branch (three-feet
The income, accounts showed in 1887 a surplus of $126,287; In 1888,




«4

INYESTOES’

SUPPLEMENT.

[Y ol. LII,

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered In these Tables.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
Par
¡¡For explanation of column headings, &c., see notes of
of
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.

H arrisb. Portsm’ th Mi. Joy < Lane.—Stock,7 p. e.gu.
&
1st mortgage (ext’d in 1883), int. guar. Pa. RR..r
H artford d Connecticut Western—Stock....................
k
1st mortgage................... .........................................
Housatonie—Stock, common......................................
Preferred stock, 4 per cent non-cumulative........
Consol, mortgage, not payable till 1910................
New consol, mortgage (for $3.000,000)............. c*
JSoust. Last (É West Texas—1st M..,gold($7,000p.m.)
2d mortgage, land grant, $5,000 per mile........ c*
Houston &Texas Cent.—1st M.l.gr.,g.,red.J at 110.c*&r
Consol. M.,land gr., gold, int.guar. by 8o.Pac.c*&r
Gen. mort.,gold, interest guar, by So. Pac... .C'&r
Debent., prin. and int. gu., ($705,000 are 6s)c*.<fcr
Waco & Northwest 1st M., gold (Bremondto Ross).
Hud. Sus. Bridge dtN. E. By.—lstM.$10,000,000.c*&r
Hunt’gd'n < Broad Top—St’k, $1,990,500 is 7 p. c. pf.
&
1st mortgage, extended in 1890................ T ....... 2d mortgage, gold..................................... ...............
3d mortgage, consolidated......................................
Hutchinson & Southern—1st mortgage.....................

54
54
104
74
164
192
192
463
463
463
58
64
64
74
64

$50 $1,182,550
3 ^ J.
1853 500 &c.
700,000
J.
4
100
2,635,700
1
F.
1,000
1883
608,000
J.
5
100
36,500
100
2,867,200
1880 500 &c.
A.
100,000
4
1,000
1887
2,839,000
5 g. M.
1,000
1,344,000
1878
7 g. M.
1,000
1883
750,000
6
J.
1,000
1890
8,064,000
5 g. J.
1,000
1890
3,919,000
6 g. A.
1,000
1890
4,305,000
4 g. A.
1890
1,116,000
4 & 6 A.
1873
1,000
1,140,000
7 g. J.
1,000
1888
5 g. F.
(?)
50
3,362,300 3 on p’f’d J.
1854
500
416,000
4 g- A.
500
1857
367,500
7 g. F.
1,000
1865
1,497,000
A.
5
1889
400,000
M.
5

&
&
&
&

J. Phila., Company’s Office
J.
do
do
A. N. Y., Cent. N.E. & West.
J.
Hartford.

&
&
&
&
&
&
&
&
&
&
&
&
&
&
&

O.
N.
N.
J.
J.
0.
O.
O.
J.
A.
J.
O.
A.
O.
N,

Jan. 10,1891
July 1, 1913
Feb. 20, 1891
July 1, 1903

Bridgeport, Conn.
Apr. 1, 1910
N. Y., Farm. L. & Tr. Co. Nov. 1, 1937
Last coup, paid May,’86
1898
Jan. 1, 1913
N.Y., Office Mills Buildg July 1, 1937
do
do
Oct. 1, 1912
do
do
Apr. 1, 1921
do
do
Oct. 1, 1897
Last paid July, 1885
July 1, 1901
New York and London. Feb. 1, 1938
Phil. Of., Am. Life Bldg. Jan. 16,1891
do
do
Sept. 30,1920
do
do
Feb. 1, 1895
do
do
Apr. 1, 1895
Nov. 1, 1919

•

deficit $79,816; in 1889, deficit $28,432; in 1890 a surplus of
$30,560. (V. 50, p. 7 9 9 ; V. 52, p. 4 2 6 .)
Great N orth ern .—(See -Map.;—Operates under lease the St. Paul
Minneapolis & Manitoba Railroad, extending from St. Paul, Minn., via
Bamesville to Emerson, Manitoba, 392 miles; Minneapolis to Gretna,
Manitoba, via Breckenridge, 413 miles; Crookston Junction, Minn., to
-Great Falls, Mon., 782 miles; Breckenridge, Minn., to Langdon, Dak.,
206 miles; Evansville, via Tintah Junction, to Ellendale, Dak., 136
miles; numerous branches (to Aberdeen, Hutchinson, Watertown, &c.),
•846 miles; total, St. Paul Minneapolis & Manitoba, 2,775 miles. Also
■operates under contract the following proprietary roads: The Willmar
& Sioux Falls, Willmar, Minn., to Sioux Falls, Dak., 147 miles; the
Duluth Watertown & Pacific, Watertown, Dak., to Huron, Dak., 70
miles; the Minneapolis Union, 3 miles; total, 220 miles. Total in Mani­
toba system, 2,995 miles. Also owns the entire stock of the following
lines, but keeps earnings separate, their income appearing in the state­
ment of earnings below only as revenue from stocks and bonds owned
•or as other receipts: The Eastern of Minnesota, Hinckley to near Duluth,
71 miles; the Montana Central, Great Falls, Mon., to Butte, Mon., 171
miles; branches, 49 miles, and leased line, 15 miles; total, 306 miles.
■Grand total, 3,301 miles.
Extension to Pacific Coast, 780 miles, is in progress, 121 miles having
been opened for business December 7, 1890.
This is a Minnesota corporation whioh in February, 1890, leased the
fit. Paul Minneapolis & Manitoba for 999 years, assuming its funded
■debt and guaranteeing 6 per cent per annum in gold on its $20,000,000
stock. The Great Northern’s authorized capital is $40,000,000, of
which $20,000,000 is preferred 6 per cent non-cumulative, and this only
Is issued at present. The Mlanitoba stockholders were offered the privi­
lege of taking it at 50, the remaining 50 per cent being paid by a trans­
fer to the Great Northern of all the securities owned by the Manitoba
Company, amounting to over $22,000,000. With the proceeds of sale
o f the Great Northern’s preferred stock, the Manitoba’s collateral trust
bonds were paid off. The securities acquired by the Great Northern
have been placed in trust to secure the unity of the system. (See V. 49,
p. 435; V. 50, p. 205.) No increase of the preferred stock can be made
without the consent of the holders of three-fourths the preferred stock
outstanding.
The St. Paul Minneapolis & Manitoba Company was organized May 23,
1879. It had a land grant of 3,848,000 acres, and acquired the Minne­
apolis & St. Cloud Railroad grant, 476,864 acres. The proceeds of
land sales are applied to the redemption of 1st mortgage bonds at or
under 105.
The land sales for year ending June 30,1890, were 86,584 acres, for
$613,959, and 118 town lots, for $6,980. The net amount due on land
•contracts June 30,1890, was $704,583; lands unsold, 2,538,326 acres.
Dividends on Great Northern stock: November 1,1890,1 per cen t; in
1891, Feb. 2 ,1 ; May 1, lit .
Price of stock—In 1890.60@86; in 1891, to May. 22 inclusive, 72@921
2.
Dividends on Manitoba stock since 1880: In 1881,3 per cent; in 1882,
9; in 1883, 8; in 1884, 7 ^ ; in 1885 and since, 6 per cent yearly.
The consolidated mortgage of 1883 is for $50,000,000, of which
$19,426,000 were reserved to pay prior liens. The mortgage on the
Montana Extension is for $25,000,000, to provide for extensions,
$15,000 per mile being allowed for second track. See abstract of mortage in V. 45, p. 342; Central Trust Company of New York, trustee,
he mortgage, for £6,000,000 on the Pacific extension (trustee of mortage Central Trust Company of New York), provides for the issue of
onds at the rate of £6,000 per mile in Montana and £7,000 per mile
west o f Montana. See abstract of mortgage, V. 52, p. 82.
From July 1,1890, to April 30,1891 (10 months), gross earnings of
the St. Paul Minneapolis & Manitoba on 3,010 miles were $8,962,219,
against $7,811,242 on 3,006 miles in 1889-90. For the same period (10
months) gross earnings of the total Great Northern system on 3,260
miles were $10,610,623, against $9,217,124 on 3,255 miles in 1889-90.
Fiscal year ends June 30. Report of Great Northern for 1889-90 in
full in V. 51, p. 658, 679, 682, gave the following statement, and also
the earnings of the Montana Cent, and the East, of Minnesota railways:
GREAT NORTHERN FOR FIVE MONTHS ENDING JUNE 30, 1890.
Receipts.
Disbursements, dkc.
Gross earnings...............$3,361,332 Operating expenses, &c.$l,763,343
Intere’t on bonds owned 122,308 State tax........................
101,089
Div’nds on stocks owned 313,834 Rentals pd. and accrued. 1,704,625
Rev. from other sources
185,112 Profit and loss. .........
413,528

f
f

T o ta l.......................$3,982,587
T ota l......................... $3,982,587
The following shows the result on the St. Paul Minneapolis & Mani­
toba on the old basis, for the fiscal years named. The change in the
method of keeping the accounts, due to the lease of the road, makes it
impossible to give in the income account of 1889-90 more than the
surplus over ail charges:
<
ST. PAUL MINNEAPOLIS < MANITOBA SYSTEM.
fc

1886-87.
1887-88.
1888-89.
1889-90.
1,935
2,648
3,030
3,006
$
$
$
$
Total gross earnings.......... 8,028,448 9,561,905 8,586,566 9,582,931
Operating expenses&taxes 4,314,895 4,669,987 5,000,067 4,976,148
Miles operated June 30.. ..

Net earnings........... .,.3,713,553 4,891,918 3,586,499 4,606,783




INCOME ACCOUNT.

1886-87. 1887-88.
1888-89.
1889-90.
$
ffi
U
i
0
Rpppr'nts_
’
Net earnings....................... 3,713,553 4,891,918 3,586,499 4,606,783
Revenue from land dep’t.. 415,782
271,938
161,870
203,287
Other receipts.................... 5M,447
450,759
751,903
............
Total income................ 4,643,782 5,614,615 4,500,272
Int’ st, 6 p. c. dividends,&c. 4,386,191 5,015,689 4,631,009
Balance, surplus................ 257,591
598,926 df.130,737
927,089
—(V. 49, p. 342, 403, 435, 65 1, 6 5 5 , 673 ; V. 50, p. 205, 874; Y. 51, p.
240, 537, 65 8, 67 9, 682, 787; Y. 52, p. 82, 203, 351.)
Green. B a y W in o n a & St. P a u l.—Owns from Green Bay, Wis.,
to Marshland, Wis., 209 miles; branches, 7 miles: leases—Plover to
Steven’s Point, 6 miles;£total, 222 miles. A reorganization of the Green
Bay & Minnesota, sold in foreclosure March 12,1881. Preferred stock
is $2,000,000, 7 per cent, and common stock $8,000,000; both stocks
$100 shares.
On February 1,1885, default was made on the first mortgage interest,
and in 1886 bondholders consented to fund the three overdue Coupons
and the company resumed payment, but defaulted August, 1889. A
plan for reorganization without foreclosure and for building a South­
western Extension was brought out in July, 1889, the incomes paying
an assessment of 10 per cent and the stock of 5 per cent, and receiving
therefor bonds and stock of the Winona & Southwestern Railroad—
which see. In August, 1890, the Farmers’ Loan & Trust Company,
trustee of the first mortgage, was appointed trustee in possession to
facilitate the plan of reorganization, which is expected to be carried
through in the near future. See V. 51, p. 240.
In 1890 gross earnings were $384,104, against $296,844 in 1889.
From January 1 to June 30 (6 months) in 1890, gross earnings were
$171,046, against $135,414; net, $27,754, against $8,353. For 1888-89
ross earnings were $302,105; net, $46,698 ; taxes and interest, $133,49. Samuel Sloan. President, New York.—(V. 46, p. 254; V. 47, p.
563; V. 49, p. 113,145, 341, 654; Y. 51, p. 276.)
H a n n ib a l & St. J ose p h .—Owns from Hannibal, Mo., to St.
Joseph, Mo., 206 miles; branches—Cameron to Kansas City, 53 miles ;
St. Joseph to Atchison, Kan., 20 miles; Palmyra to Quincy. 111., 13 miles;
leases, 3 m iles; total operated, 295 miles. Owns bridge at Kansas City.
Stock—Common, $9,168,700; preferred, $5,083,024; par, $100. Chi­
cago Burlington & Quincy RR. Co. owns $14,243,100 stock. Preferred
stock has prior right to a non-cumulative dividend of 7 per cen t; then
common to 7 ; then both share.
Dividends on preferred stock since 1876—In 1880, 3 per cent; in
1881 and 1882, 7 ; in 1883, 3 ; in 1887, 7 ; in 1888, n il; in 1889, 5 ;
in 1890 $1 93 per share. The income accounts have shown as follow s:
Surplus over charges: In 1890, $102,071; in 1889, $276,732; deficit in
1888, $46,091; surplus, $397,562 in 1887; $68,210 in 1886.
H arrisb u rg P o rtsm ou th M o u n t J oy & L an caster.—Owns
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Middletown,
Pa., to Columbia, Pa., 18 miles; total operated, 54 miles. Leased to the
Pennsylvania RR. Co. for 999 years from January 1, 1861, the rental
being 7 per cent on the stock and interest on the bonds. Stock, $1,182,550; par $50. Forms part of main line of Pennsylvania RR.
H artfo rd & C onnecticut W e ste rn .—Owns from Hartford,
Conn., to Rhinecliff, N. Y., 108 miles. On May 25, 1881, bondholders
reorganized, and stock in new company issued for bonds. In 1888 a
controlling interest in the road was purchased by parties interested in
the Poughkeepsie Bridge, by which it forms an all-rail route across the
Hudson River. On August 30,1889, a lease for one year was made to
the Central New England & Western, the rental paying charges and 2
per cent per annum on the stock, and in March, 1890, the lease was ex­
tended on the same terms till August, 1939. There are still outstanding
$84,300 Connecticut Western RR. 7 per cent bonds, due 1900, converti­
ble into stock at 60 per cent. Stock, $2,635»700; par, $100.
In 11 months ending August 31,1889, gross earnings $325,574; net,
$52,669; surplus over fixed charges, $11,306. (V. 48, p. 190, 251, 399,
526; V. 49, p. 51, 173, 207; V. 50, p. 422.)
c
H o u sa to n ie.—Owns Bridegport, Conn., to State Line, Mass., 74
miles; Brookfield Junction to Danbury, 6 miles; West Stockbridge
Railroad, 3 miles (stock owned); Botsford to Huntington, 10 miles.
Leases—Berkshire Railroad, 21 miles; Stockbridge & Pittsfield Railroad,
23 miles; Danbury & Norwalk Railroad, Danbury to Wilson, Conn., 26
miles, and branches, 10 miles; New Haven & Derby, 17. miles; total
operated, 190 miles. Controlled by parties interested in the New York
& New England.
' Common stock is exchangeable for the new preferred stock on basis
of one and one half shares of common for one of new preferred. There
are also $61,000 5 per cent Danbury branch bonds due Octoberl,1912,.
redeemable October 1, 1892, and rolling stock certificates $200,000In September, 1886, the Housatonie leased the Danbury & Norwalk Rail
road for 99 years, and in July, 1889, leased New Haven & Derby.
Dividends on preferred stock since 1876.—From 1877 to 1884, 8 per
cen t; in 1885, 5; in 1886, 6; in 1887, 3 ; in 1888 and since, nil.
For year ending September 30 1890, gross earnings were $1,520,124,
against $1,204,213 in 1888-89; net, $672,511, against $531,293; surplus
over taxes, rentals, interest, &c., $193,074, against $115,958. (V. 49,
p. 654; V. 50, p. 276, 451, 741, 908.)

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66

INTESTOKS’

SUPPLEMENT.

[V ol . L 1 I .

Subscribers w i ll confer a great fa v or b y lg iv in g llm m ed ia te notice o f a n y 'erro r discovered in tbese Tables.
RAILROADS.
INTEREST^ OR DIVIDENDS. §
Bonds—Princf Miles Date Size, or
Amount
pal,When Due.
For explanation of column Leadings, &c., see notes of
Par
of
Rate peri When Where Payable, and by Stocks—Last
»on first page of tables.
Road. Bonds Value. Outstanding Cent. ¡Payable
ft Whom.
Dividend.
Illinois Central—Stock.: . . . .......................................
Leased line 4 per cent stock, guar, (see remarks..
1st mort. of f Sterling bonds of 1895.............. 1
I r
1 8 7 4 f o r Sterl. of ’03, £10,000 dr’n yrl.c*
$15,000,000^ Sterling bonds of 1905............. . > 706-|
secures all 4s of 1886, due 1951, gold___c*
1
equally....... [3*28 of 1886, due 1951, gold .. c* J
1
Trust bonds sterl. (secured by Cb. St.L.&N.O.cons.)
1st M. on Cb. & Sp. RR. (Gilman to Springfield) .c i l l
1st M., Middle Div.,Otto to Norman June. &brs.r 131
Collat. trust bonds, gold (for $15,000,000) $& £ . c* 854
Chicago St. Louis & New Orleans 1st mortgage... 567
2d m o rtga ge........................................................ 567
Consolidated mortgage,gold ($18,000,000) ,c*<fcr 567
Memphis Division mortgage, gold............. .. .c* 100
M Cairo Bridge bonds (heldby Illinois Central)..r
flC
Indiana Illinois & Iowa—New 1st mortgage, gold .. 117
1st and 2d inc.Ms. ($250,000 each) 4 p.c.non-cum.r 117
Indianap. Decatur <- Quincy—I. D. &Sp.lstM.,g.s.f. 153
£
Indianap. Decatur & Western 1st mortgage, gold 153
Ind. Dec. & Quincy 1st mortgage for $4,000,000. 153
2d mortgage for $2,400,000 income non-cum... 153
Indianapolis < Vincennes—1st mortgage, guar
fi
c 117
2d mortgage, guaranteed Penn. Co....................... c 117
Iniernationtd & Great Northern—1st mort., gold___ 776
2d mortgage, gold.........................................
c*
776
Colorado Bridge bonds, sinking fund.....................
Iowa Central—1st mortgage, gold, $15,000 p. m. .c* 501
Keitosburg Bridge 1st mortgage, guar............... c*

$100
100
£200
1875
1874
£200
1875
£200
1886
1,000
1886
1,000
1886
£200
1,000
1878
1,000
1881
1888 500 &c.
1,000
1877
1,000
1877
1,000
1881
1,000
1889
1890
1,000
1889
500
1889
1876
1,000
1,000
1888
1891
1891
1867 500 &c.
1870
1,000
1879
1,000
1881 500 &c.
1880
1,000
1888
1,000
1885
1,000

H o u s t o n E a s t & W e s t T e x a s .—(Narrow gauge, 3 feet.)—Owns
from Houston, Texas, to Sabine River at Loganspbrt, 192 miles. The
second mortgage bonds are held as collateral for the debt due Mr. Bremond, $750,000. Stock issued, $1,920,000. In July, 1885, M. G. Howe
was appointed receiver. All but about $100,000 of the firsts are
deposited with the Union Trust Co. under agreement to exchange
same, principal and interest, for new 40-year fives issued at $20,000 a
mile. Whole issue of $3,840,000 to be used to retire old firsts, settle
prior claims (about $300,000) and make road standard gauge. Fore­
closure sale, which was to be made March 11,1890, was prevented by a
stay of proceedings. See references below. In 1890 gross earnings
were $422,522; net, $114,282. In year ending September 30, 1889,
ross earnings were $369,577 ; net over operating expenses and taxes,
70,252. (V. 48, p. 589 ; Y. 49, p. 434, 616, 718, 824; V 50, p. 451,
483, 801 ; Y. 52, p. 279.)
-

f

$41,135,400
10,000,000
2,500,000
3,700,000
1.000,000
1,500,000
2,499,000
5,266,000
1,600,000
968,000
12,981,000
1,374,000
80,000
11,260,000
3,250,000
See remarks.
800,000
500,000
1,800,000
142,000
(?)
(1)
1,700,000
1,402,000
7,954,000
7,054,000
225,000
5,917,000
591,000

3
2

**?
5 g.
5 g.
4 g;,
3 ^ g.
3^2 g.
6

J. &

i g-

4
7

6

6
6
7
5
6

g.
g.
g.
g.

8iw «r
Mch. 2, 1891
Jan. 1, 1891
Apr. 1, 1895
Apr. 1, 1903
Dec. 1, 1905
Jan. 1, 1951
Jan. 1, 1951
July 1, 1950
Jan. 1, 1898
Aug. 1, 1921
Apr. 1, 1952
Nov. 1, 1897
Dec. 1, 1907
June15,1951
Dec. 1, 1951
D. N. Y., Metropol. Tr. Co. Dec.1950 1939
1,
O.
New York,
Jan. 1, 1906
O.
do
Oct. 1, 1947
S.
do
1941
1941
A. N. Y., Farm. L. &Tr. Co. Feb. 1, 1908
N.
do
do
May 1, 1900
N. Last coup. pd. Nov., ’ 88 Nov. 1, 1919
S.|Last coup. pd. Sept., ’ 88 Sept. 1, 1909
N. Last coup. pd. Nov,, ’ 88 May 1, 1920
D. N. Y. City, Merc. Tr. Co. June 1, 1938
D. N. Y., Central Trust Co. June 1, 1925

M. & S.
J. & J.
A. & O.
A. & O.
J. & D.
J. & J.
J. & J.
J. & J.
J. & J.
F. & A.
A. & O.
M. & N.
J. & D.
Jl5&Dl5
J. & D.

A. &
A. &
M. &
F.
M.
M.
;M.
;M.
jJ.
J‘

&
&
&
&
&
&
&

New York, 214 B’dway.
do
do
London.
London,Morton,R.& Co.
do
do
New York, 214 B’dway.
do
do
London, Baring Bros.
New York, 214 B’dway.
do
do
do
do
do
do
do
do
do
do
W
do
do

and leased it from July 1, 1882, for 400 years, at 4 per cent per annum
on stock, and issued the above 4 per cent leased lineP stock in exch a n ^
for a like amount of the Chic. St. L. & New Orleans stock isee hcin^ff
The stock of the Dunleith & Dubuque Bridge, $1,000,000% owned ! »
to suit to annul the lease of the Cedar Falls & Minnesota^ to tn f
Dubuque & Sioux City, see Dubuque & SiouxC ity K scal yea?Vndl
June 30. Annual election is held in October.
J
1 year ends
Stocks and B onps.—The leased line stock was issued in exchange for
n3m ^ amoun;°fC h ica g o St. Louis & New Orleans stock, all of which is
held as security therefor. A default for sixty days in the pavnmnt of
any semi-annual dividend of 2 per cent bn the leased line s t o c K t it le s
the stockholder to his pro rata share of the stock pledged
entitles
In Oct., 1890, it was voted to issue (but only at par) $5 000 000 new
stock, making the total stock $45,000,000. (See V. 51 p l i 4 493
Dividends since 1870—in 1871,10 per cent: in 18721 o •
a.
in 1874, 8; in 1875, 8; in 1876, 8; in 1 877,4; to 1878 6• t o
a!

H o u s t o n & T e x a s C e n tr a l.—(See Map o f Southern Pacific)—Owns
from Houston, Texas, to Red River City, Texas, 345 miles; branches—
Hempstead, Texas, to Austin, Texas, 118 miles; total owned, 463
miles. Also operates Waco & Northwestern, Bremond, Texas, to Ross,
Texas, 57 miles; Fort Worth & New Orleans Ry., Garrett to Fort Worth,
41 miles; Central Texas & Northwestern, 12 miles; other, 4 miles ; ana
controls Texas Central RR., Ross to Albany, 177 miles, with branch,
Garrett to Robert, 52 miles. Land grant from the State of Texas was
10,240 acres per mile.
Foreclosure sale of the Houston & Texas Central Bailway (ex­
cepting its Waco & Northwestern division) was made September 8,
1888, to the reorganization committee, and m Jan., 1891, the property
was turned over to the H. & T. C. Railroad Company. For plan of re­
organization see V. 45, p. 792, 820. The bonds are given in table as they
will stand under the reorganization plan. Interest charges will be
$914,248; taxes (estimated), $70,000.
The Southern Pacific Company guarantees interest on all the bonds
and both principal and interest of the debentures. The first mortgage
bonds and the consolidated mortgage bonds may be called for redemp­
tion at 110 with proceeds of land sales. See full abstracts of all the
mortgages in Y. 52, p. 242. The first mortgage is a first lien on some­
thing less than 2,000,000 acres of land and the consolidated mortgage
a first lien on about 1,000,000 acres. Of the consolidated 6s $1,149,000 (not included in the amount outstanding above) are held as part
security for the general mortgage 4s.
Thè new stock is $10,000,000 and the old stockholders paid a cash as­
sessment of $71 40 per share to obtain their pro rata share of the new
stock. (See Y. 51, p. 493.) There are $60,000 Union Depot bonds out­
standing. The Waco & Northwestern bonds are not a liability of thi«
company; foreclosure suit is in progress under the W. & N. W. mortgage
The earnings, &c., for the calendar years 1887,1888 and for the year
ending September 30 in 1889 and 1890, were as follows, 507 miles being
operated in 1889 and 1890 :
1887.
1888.
1888-89. 1889-90.
Expenses—
$-^
$
$
$
Grose earnings............... 2,896,999 2,786,053 3,262,362 3,863 919
Operating expenses, &c. 2,717,865 2,385,060 2,561,494

51
RLm March, 1890, 3; September, 3 ; in 1891, March 2 8 percent V ’
Price of stock—In 1880, 9 9 ^ 1 2 7 3 8 ; in 1881 124® l 4fiL^ to i «s o
127%'@1501 in 1883, 124®148; in 1884, UO® 140- t o 1885
2;
140; in 1886,130® 1 4 3 ^ ; to 1887.114® 138- in 1888 l
I I 106®118 %; inl890,85® 120; to 1891, to M ay1 !, tool ®Q®103 L?
In addition to the bonds given in the table as outstau Jto g ti,333 ^ '
pany Rself held on July 1,1890,
and $560,000 Chicago St. Louis & New Orleans consolidated 5s the in­
terest on which is included on both sides o f the income account
266,000 of the latter issue being also held as collateral for the ttrust
bonds of 1886. The company on the same date also owned all the Chibra<1“ *“ d * i » . o o o d SFor the Chicago St. Louis & New Orleans the lessee guarantees the
principal and interest of all the outstanding bonds p lto rto th e 5 per
cent bonds, and by an endorsement on the latter bonds guarantees toe
payment of the interest on toe same until the principal is p?id The
trust bonds of 1886, which are secured bv depoiR of I likl amount o?
Chicago S t Louis & New Orleans
toture mortgage on toe Illinois Central lines. Of the CMcago ST Lotos
< New Orleans first mortgage 7s of 1877, $541,000 are a n3ArH«Tr on
fe
that part of the road in (Tennessee.
*
’
are a prlor lien 011
J ^ U a t e r a l trust bonds of 1?®a are for ^ authorized amount of
$15,000,000, and secured by pledge with the U S Trust Co of w ™
York of $16,350,000 5 per cent 1st mortgage gold bonds of m i b s id S
railroads covering 850 miles.
8
^ or suDsiaiary
,q
9£e e a ti° n1
Frances .—The company, to extend its business in
1887 acquired toe leased lines m Iowa by purchase of their stocks. ’
From July 1,1890, to April 30,1891 V t) months); ¿ o 3 s eaStogs o f
whole system (including Iowa lines, making total operated 2 875 toOpsi

Net earnings....................
179,131
400,993
700,868
- ‘ (V. 49. p. 22,145,173, 269, 471, 654, 856; V. 50, p. 483, 589. 703 •V
51, p. 84,114, 206, 240, 493, 537, 569, 680, 875; Y. 52, p. 351.)

FISCAL RESULTS OF ILLINOIS CENTRAL (NOT INCLUDING IO W A

H u d so n Suspension B rid ge & N ew E n g la n d R a ilro a d .—
Chartered to bridge the Hudson River at Anthony’s Nose, near PeekskilL and to build a line o f railroad over the bridge from Turner’s N Y
to Connecticut State line at North Salem. The mortgage (trustee Ate
lantic Trust Co.) will cover the bridge, 34 miles of railroad and a tun­
nel of 5,304 feet at Bull Hill. Stock, $10,000,000; par. $100 Presi­
dent, Edward W. Serrell, 38 Wall Street, N. Y.—(V. 51, p. 240, 569.)
Huntlnndonfjdc (Broad T o p .—Owns from Huntingdon, P a„ to
Mount Dallas, Pa., 45 miles; branches, 19 miles- total operated 64
miles. Preferred stock is 7 per cent non-cumulatto e ’•'here were also
January 2,1891, $232,000 car trusts. Bonds due in . 90 were ex­
tended till September 30,1920, at 4 per cent, payable in gold Divi­
dends on preferred stock since 1883—In 1884, lia per cent: m 1887 2•
in 1888 and 1889, 5 yearly; in 1890, January, W ,
1891, Jam
uary, 3. In 1889 gross earnings, $523,844; net, $252,035. In 1890 gross
f 721,879; net, $§58.159; i n t e s t , $132,226 ¡’car trdste
dends, $109,261, (V. 46, p. 190; Y. 50, p. 244; Y. 51, p. 20.)
H u tc h in so n & - Southern.—Operates road completed in 1890
ir j « i Hutchinson, Kan., to State Line, 82 miles,
o * ! 11“ 018
o r E oad—Chicago to Cairo,
365 miles, East Dubuque to Centralia, 341 miles; Memphis Division_
Grenada to Memphis, Tenn. 100 miles;’ Chicago St.’ ltou“ P New O rC n s
&
Railroad, Cairo, 111., to New Orleans, La., 547 miles; branches, 922
miles, total, 2,275 miles. Also leases and controls bv ownership of
nearly entire stpek Dubuque & Sioux City and leased fines 600 nnles.
Grand total, 2,875 miles.
O r g a n i z a t i o n , L e a s e s , &c.—This company was chartered in Decem­
ber, 1850, and organized in March, 1851. The lands granted were upon
the condition that the company should pay to the State 7 per cent of
gross earnings yearly in lieu of taxes. The company acquired a con­
trolling interest m the Chicago St. Louis & New Orleans Railroad




deficit under charges of $204,396.

^ xwwa, nnes mere was a
1888-89.
2,114

LINES).

1889-90.
2,275

Road operated................ ......................
Eamvngs—
Passenger................................ . . ...........
F reigh t...,.............................................
Mail, express and miscellaneous.......
¡W l .
H
Total....................................................
Operating expenses, including taxes.

2,525,806
8,703,690
1,572,217

2,757,625
10,004,754
1,685,627

12,801,713
7,970,572

14,448,00«
9,565,104

Net earnings............................................
Per cent of oper. expenses to earnings".

4,831,141
62-26

4,882,902
66-20

$

$

INCOME ACCOUNT (NOT INCLUDING IOW A LINES).

*5^644 107
Total net receipts (adding interest, &c).............
Disbursements—
.
’ ‘ ........ ’
Interest on Hltoois Central bonds.......................................
i 434 no«
Interest on Chicago St. Louis & New Orleans bonds........... . 1*106’955
Dividends on Illinois Central and Leased Line stock
2'80o’ooo
Permanent improvements and miscellaneous............263’ 415

g ^ 5 ° 3 f v % 2 , T 2 0 f , 3 5 0 : 351.^ 114’ %

4 ° ° ’ 4 1 4 > 4 1 7’ 457’ 493’

In d ia n a Illin o is & I o w a ,—Owns from Streator Junction HI
to Knox, Ind., 117 miles; trackage (F'toash Railway) into Streator two
»Hoc v
J|3»598,000; par, $100 In 1890 finances were readjusted.
IS S L V 'M P - ^ ^ t o y e a r ending June 30,1889, gross earnings were
»228,798, net, $42,89o, smplus over charses and imurovemeTitA
$1,052, Gross in 1888, $243,569; net, $43,896. F M Drake Presi*
dent, Centreville, la.—(V. 51, p. 457.)
e’ rresl
A ^ " f 1 c ,lsll> olIs‘,]Dcc‘*t u r * W e s t e r n .—Sec Indianapolis Decatur
JaJ

M a y , 1891.J




BAILEO A D

STOCKS

AND

BONDS.

68

INVESTORS’

SUPPLEMENT.

[V ol. LIL

Subscribers w i l l con fer a great fa v o r by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
of
on first page of tables.
Road. Bonds Value.
Cent. Payable
Dividend.
Whom.
Jacksonville Louisville < St. Louis—
&
1st. M., guar.c* 112 1890 $1,000 $1,680,000
Jacksonville Tampa <6K ey West—lst,g.,red.atll0.c* 130*2 1884
1,000
1,566,000
1,000
Collat. Trust loan on Fla. So. stock and bonds___
1888
2,900,000
Jefferson (P a.)—1st and2dMs,exten.(HawleyBr.).c
1,000
8 1867
300,000
1st M. Carbondale to S.depot,37m.,g.gd.pr.&int.c*
1,000
37 1889
2,800,000
Joliet d Northern Indiana—1st M. guar, by M. C. .c .4 5 1877
k
1,000
800,000
Junction (Philadelphia)—1st mortgage (extended). 3-56 1882
1,000
425,000
2d mortgage............................................................... 3'56 1865
1,000
300,000
Kanawha'dk Mich.— s tmort, gold, guar, p. & i...c* 134 1890
1
l',000
l,327j000
Kan. City A rk. < New Orl.—
6
lstM . ($20,000 per m.)e*
1,000
1890
(?)
Kansas City Belt—1st ($534,000 gu. K.C.F.S.&M.).c*
1,000
1,910,000
Ï6 1886
Kansas City Br. < Ter.—1st M. for $1,500,000, g.c*
6
500
12 1889
1,000,000
Wyand. Co. Br. & Ter. 1st M., g. (for $1,500,000)
1,000
1890
(?)
Kansas City Clinton d Spring.—1st M., g„ guar, .c* 174 1885
k
1,000
3,192,000
Kansas City Ft. Scott d Memphis—Stock...................
k
100
9,997,000
Preferred stock, 8 per cent.....................................
100
2,750,000
K. C. F. S. & G. 1st M., I’d. gr..s. f., dr’n at 110.c* 160 1879 100 &c.
2,247,000
Mortgages, guaranteed (part drawn, at 105).c* 202 ’80-’84 1,000
1,228,000
1,000
Kansas & Missouri R R ...................................... c*
390,000
26 1882
K. C. Ft. S. & G. Ten-year coupon n otes............
85&86 5,000&c
320,000
Kan. City S. & M. Plain bonds (red’ble at 105). .c*
1884
1,000
500,000
1,000 11,544,000
Consol, mortgage ($25,000 per mile) not dr’n. .c* 671 1888
1,000
Current Riv. RR. 1st mort., $20,000 p. m., guar.
1,606,000
81 1887
1,000
Kan. C.& M. R’y& B ’dgelstM.g.,s.f.,dr’n a tll0 .c*
1889
2,500,000
1,000
Kansas Equip. Co. 1st M. guar., s. f., red. at 110.
1890
500,000
Kan. C. Memph. &B ir.— mort. (dr’n at 110)..c* 276 1887
1st
1,000
6,892,000
Birmingham equipment, guar, (redeem, at 110).c*
1,000
1888
1,000,000
Memphis Equipment Co., guar., red, at 110 .......
1890
200,000
Kansas City d Pacific— mort., gold, int. guar, .c* Ì25 1890
k
1st
1.ÖÖQ
2,500,000
K. C. St. Jo.dk Coun.Bl.—
Con. M. (Nos. 1 to 500 pf.)*c 274 1877 10Ó &c.
5,000,000
IstMs.Nod. andTark.Val.RRs.s.f. (dr.atlOO).c*
1,000
61 1880
608,000

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

&
&
&
&
&
&
&

5

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

&
&
&
&
&
&
&
&
&
&
&

5

M.
M.
A.

5 g.
6 g.
4-4*2
4*2 & 6
5 g.
7
4*2
6
4 g.
5 g6
6 g.
5 g.
5 g1
4
7
7

6
6
6

5 g5
J.
M.
5
6 g- M.
F.
6
4 g. F.
J.
7
J.
7

J.
J.
A.
J.
().
J.
J.
O.

o.

N.Y.,Am.Ex.Bk.& Phila
N. Y., Mercantile Tr.Co.
Boston, Am. L. & Tr. Co.
Phila., Fidelity Tr. Co.
N.Y., N. Y. L.E. & W.RR.
N. Y., Farm. L. & Tr. Co.
Phila., 233 So. 4th St.

N. Y., Central Tr. Co.
New York City.
Boston, Of., 50 State St.
N. Y. Central Trust Co.
do
do
Boston, Merch. Nat. Bk.
Boston, Of., 50 State St.
do
do
Bost., Nat. Webster Bk.
do
do
do
do
Boston, Of., 50 State St.
& N. Boston, Nat. Union Bk.
& N. Bost., Nat. Webster Bk.
& O. Boston, Nat. Union Bk.
Boston.
& J.
do
& 8. Boston, Merch. Nat. Bk.
& S. Boston, Merch. Nat. Bk.
& A.
do
do
& A. N. Y., Central Tr. Co.
& J. Boston, 2d Nat. Bank.
& D.
do
do
N.
J.
J.
J.
O.
A.
A.
D.
S.
A.

Jan. 1, 1940
Jan. 1, 1914
Aug., 1898
July, 1927
Jan. 1, 1909
July 1Ó, 1907
July 1, 1907
Apr. 1, 1900
Apr. 1, 1990
Nov. 1, 1930
July 1, 1916
July 1, 1919
Jan., 1940
Oct. 1, 1925
Feb. 16,1891
Feb. 16,1891
June 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Dec., 1895-96
May 1, 1894
May 1, 1928
Oct. 1, 1927
Oct. 1, 1929
Jan. 1, 1905
Mch. 1, 1927
Mch. 1, 190S
Aug. 1, 1905
Aug. 1, 1990
Jan. 1, 1907
June 1, 1920

In d ia n a p o lis D ecatur Sc Q u in cy .—Will own from Indian­ the Chicago Peoria & St. Louis, which guarantees the bonds, principal
apolis, Ind., to Decatur, 111., 153 miles, as successor to the Indian­ and interest. Earnings on the system for year ending June 30, 1889»
apolis Decatur & Western RE., which on April 1, 1889, defaulted, and were, gross, $630,202; net, $235,008; surplus over interest, $93,913.
in 1891 was under reorganization by plan of Oct. 5,1890. Foreclosure W. S. Hook, President, Jacksonville, 111. (V. 50, p. 205, 353, 703, 735.)
suit is still pending against the Ind. Decatur & Western under the Ind.
J ack so n ville T a m p a Sc K e y W e s t.—Line of road Jackson­
Decatur & Springfield first mortgage, and will come up June 23,1891. ville, Fla., to Sanford, 126 m iles; Enterprise branch, 5 m iles;
From July 1,1890, to March 31,1891 (9 months), gross earnings were Deland branch, 6 miles. Leases Atlantic Coast St Johns & Indian River»
$367,760, against $327,742 in 1889-90; net, $108,352, against $85,270. Enterprise to Titusville, 40 miles; Florida Southern (three-feet gauge)»
New York office, 2 Wall Street.—(Y. 48, p. 462 ; Y. 49, p. 22,114, 206, Palatka, Fla., to Gainesville, 50 miles; Rochelle to Leesburg, to Brook341, 402. 580, 654, 718, 824; V. 51, p. 875 ; V. 52, p. 204, 238, 390.)
ville, 106 miles; Bartow to Punta Gorda, 81 miles; Leesburg to Astor,
In d ia n a p o lis Sc V in cen n es.—Owns from Indianapolis, Ind., to 50 miles; other branches, 23 miles; total, 310 miles; lines to St. Augus­
Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 16 miles; total, tine, Palatka, Daytona, etc., 101 m iles; operates, 66 m iles; total oper­
133 miles. The Pennsylvania Company owns a controlling interest in ated, 651 miles.
the stock and operates the road, advancing the deficiency to pay inter­
Opened March, 1886. The land grant was about 1,500,000 acres.
est on the bonds. The capital stock is $1,402,000; par, $50; due Penn­ The first mortgage bonds are subject to call at 110. Stock is $2,600,sylvania Company December 31, 1890, for advances, $2,284,083. In 000. Company obtained control of the Florida Southern on January 1»
1890 gross earnings, $459,606; net, $68,690; deficit under interest, &c., 1889, and issued a collateral trust loan for $2,905,000 on that com­
$160,848, against $155,436 in 1888. Annual interest, $203,120.
pany’s stock and bonds, this loan bearing 3 per cent interest till 1890»
In tern a tio n a l Sc Great N o r th e r n .-Owns Longview, Texas, to 4 per cent till 1894 and 4*2 per cent for the remaining 5 years. (See V.
Laredo, Texas, 496 m iles; and Palestine, Texas, to Houston, Texas, 150 47, p. 531.) Suit for foreclosure of Florida Southern’s underlying
m iles; branches—Houston & Columbia, 50 miles; Phelps to Huntsville, mortgage was instituted in March, 1890. (See V. 50, p. 422.)
8 miles; Mineola to Troupe, 44 miles; leases—Round Rock to George­
From July 1,1890, to March 31, 1891, (9 months), gross earnings of
town, 10 miles; Henderson to Overton, 16 miles; Galveston Houston & main line were $528,822, against $495,337 in 1889-90; net, $183,963»
Henderson, Galveston to Houston, 50 m iles; total, 825 miles.
against $109,818. In 1889 the gross earnings were $547,625; net, $144,The International & Great Northern was foreclosed in 1879 and 209. In 1890 gross, $567,695; net, $145,974. New .York offioe, 10
acquired by Missouri Kansas & Texas in May, 1881, by an exchange Wall Street. (V. 49, p. 2 3 5 ; V. 50, p. 422, 519.)
of two shares of Missouri Kansas & Texas stock for one of International
Jefferson.—Owns from Susquehanna Depot, Pa., to Carbondale»
& Great Northern. In the reorganization of the Missouri Kansas &
Texas in 1890 this stock became the joint property of the Missouri Kan­ Pa., 37 m iles; branch, Hawley, Pa., to Honesdale, Pa., 8 m iles; total,
45 miles. Leased in perpetuity to the New York Lake Erie & Western
sas & Texas and the Missouri Pacific, the control being vested in Mr. F.
P. Olcott, who holds 1,000 shares. (See V. 50, p. 313. Default was for $140,000 per annum for main line and $15,900 for branch. Mort­
made on 2d mortgage in March, 1889, and on the 1st mortgage in May, gage of 1889 is guaranteed principal and interest by lessee. The Haw­
1889. Receivers were appointed February 16,1889. Suits were insti­ ley branch 2ds, $96,000, due in 1889, were extended at 6 per cent.
tuted under both mortgages, but withdrawn in October, 1890. (SeeV. Capital stock, $2,096,050; par, $50.
51, p. 493.) Mr. J. A. Roosevelt, 33 Wall Street, New York, is chairman
Jefferson m ad ison Sc In d ia n a p o lis.—See Pittsburg Cincin­
of bondholders’ committee. In September, 1890, a plan of reorganiza­ nati Chicago & St . L ouis .
tion was offered, which fell through. A new plan is in preparation.
The International & Great Northern guarantees $2,000,000 of Galves­
J oliet Sc N orthern In d ia n a .—Owns from Joliet, 111., to Lake
ton Houston & Henderson 1st mortgage 5 per cent bonds, of which Station, Ind., 45 miles. Operated as part of the Michigan Central main
Missouri Kansas & Texas owns $400,000.
line. Road opened in 1854 and leased to the Michigan Central. Stock
From January 1 to April 30,1891 (4 months), gross earningsTon 825 ($300,000) carries dividends of 8 per cent per annum.
miles were $1,113,939, against $1,174,684 in 1890.
J u n ctio n (P h ilad elp h ia ).—Owns from Belmont, Pa., to Gray’sFor year ending September 30,1890, gross earnings on 825 miles
were $4,156,769; operating expenses, $3,494,054; taxes, $2,905; net, Ferry, Pa., about 4 miles. It connects the Pennsylvania, the Philadel­
phia & Reading and the Pittsburg Washington & Baltimore railroads»
$659,810, from which paid for new equipment, $589,181. In 1888-89,
ross $3,610,361; operating expenses, $2,809,655; taxes, $59,196; net, coming into Philadelphia. Stock, $250,000; par, $50. Gross earnings in
741,510—(V. 49, p. 22, 300; V. 50, p. 275, 352, 391, 422, 703, 735, 1889, $270,739; net, $157,724. Large dividends are paid. In 1884
paid 40 per cent, in 1885 20 per cent, in 1886 30 per cent, in 1887 and
874; V. 51, p. 114, 416/457, 493.)
1888 45 per cent, in 1889 50 per cent.
I o w a C entral.—( See Map.) —Owns from Albia, la., to Northwood,
la., 189 miles (12 miles of this, Manly Junction to Northwood, being
K a n a w h a Sc M ich iga n .—( See Map Toledo & Ohio Central.)—Owns
leased to Burlingnton Cedar Rapids & Northern); Oskaloosa to Iowa Coming, O., to Malden, &c., W. Va„ 134 miles (gauge 4 feet 9 inches);
Junction, 184 miles; Grinnell & Montezuma Branch, 14 miles; Story leases 19 miles; total 153 miles, of which 11 miles owned is not
City Branch, 36 miles; State Centre Branch, 28 miles; Belmond Branch, operated by this company. The Kanawha & Ohio (was sold in
22 miles; Newton Branch, 28 miles; other, 2 miles; total owned, 503 foreclosure March 4,1890, and reorganized under present title. (Sea
miles; leases tracks at Mississippi River, 3 miles; trackage, Iowa Junc­ Chronicle V. 50, pp. 451, 483.) In October, 1890, a large interest in
tion, 111., to Peoria, 111., 3 miles; Centreville Moravia & Albia, Relay to the company was acquired by parties interested in the Toledo & OhioAlbia, 26 m iles; total, 535 miles, but only 523 operated.
Central, which company has agreed to guarantee the bonds, principal
The Central Iowa, October, 1884, defaulted in payment of interest, and interest. (See V. 52, p. 165, 351.) The mortgage of 1890 is fo r
and in 1888, after foreclosure sale, was reorganized under present title $15,000 per mile of road now or hereafter constructed (an extension
according to plan in Chronicle, V. 44, p. 653. Trustee of first mort­ to mouth of Gauley River, 32 miles, being projected); but until
gage, Mercantile Trust Co. See abstract V. 49, p. 582. Common stock extensions are built the issue on present mileage must not exceed
authorized, $8,600,000; outstanding, $7,973,591; preferred authorized, $10,000 per mile. Stock authorized, $10,000,000; outstanding,
$5,600,000; outstanding, $5,505,912; par of both, $100.
$9,000,000; par, $100.
The Keithsburg Bridge bonds were redeemable at 100 for the sinking
From July 1, 1890, to March 31,1891 (9 months), gross earnings were
fund, but in 1890 payments to the sinking fund were discontinued in $266,000, against $224,683 in 1889-90; net, $73,742, against $49,606,
pursuance of an agreement with the Bridge Company. See V. 51, p. 715. In year ending June 30, 1890, gross earnings were $305,216; net»
From July 1,1890 to March 31,1891 (9 months) gross earnings were $68,854; taxes and rents, $15,333; surplus, $53,521. President, Nelson
$1,364,150, against $1,253,110 in 1889-90; net, $444,242, against Robinson; Vice-President, Stevenson Burke. (V. 50, p. 313, 353, 451J
$370,968.
483, 589; V. 51, p. 142, 457, 753; V. 52, p. 165, 351.)
Fiscal year ends June 30; report for 1889-90 was in V. 51, p. 343. In­
K a n sa s City A rk a n sas Sc N ew O rleans.—Under contract to be
come has been as follows, the road having been taken out of receivers’
hands May 16,1889, and interest on funded debt being paid only since built from Beebe, Ark., to Monroe, La., 160 miles. On April 1,1891, 48
miles were graded ready for rails. Capital stock, $5,000,000. Mort­
that time.
1888-89.
1889-90. gage is for $3,200,000, trustees The Farmers’ Loan & Trust Co., New
Gross earnings...............................
$1,387,303
$1,588,963 York, Hon. Dan. W. Jones is President and C. G. Stoddart Vice-Presi­
dent and Treasurer. Branch offices at 18 Broadway, New York, and
Net earnings......................................
$225,577
$428,766 Bartholomew House, E. C., London.—(Y. 48, p. 462; V. 49, p. 718.)
Total net receipts...................................
$240,247
$444,641
K a n sa s City B e lt.—From Argentine to Washington Park, 10 mile»Interest, rentals, taxes, &c........ .....................
199,270
420,025 Mortgage is for $2,500,000. Stock authorized $2,500,000 (par $100)»
outstanding $100,000; owned one-half by Atchison Topeka & Santa Fe
40,977
$24,616 and three-tenths by Kansas City Fort Scott & Memphis and two-tenths by
Surplus............. , ....................................... .
President, Russell Sage.
Chicago Milwaukee & St. Paul. Double-tracked and used for a termi­
—(V. 50, p. 244, 313, 353, 377; V. 51, p. 3 4 3 , 345, 715.)
nal road at Kansas City. In year ending June 30,1890, gross earningsJ ack so n ville Southeastern.—See Jacksonville Louisville & were $211,400; net, $116,935; interest, $112,772; surplus, $4,163.
St . Louis .
K a n sa s City B rid ge Sc T e r m in a l.—Has under construction a
J ack so n ville L o u isv ille Sc St. L o u is.—Owns from Jackson­ railroad and carriage bridge over the Missouri River at Kansas City»
ville to Centralia, Dl., 112 miles. Operated in close connection with the bridge to be completed in summer of 1891. Mortgage also covers 12
Chicago Peoria & St. Louis Railway (which see). The Jacksonville miles of belt railway. The Wyandotte County Bridge & T erminal RR_
South Eastern was sold in foreclosure May 11,1890, and reorganized Co., with capital of $2,000,000, is to build as an extension of this com­
as at present. Stock is $1,500,000, of which $1,000,000 is owned by pany’s line 24 miles oLroad and a bridge over the Missouri River and

f




Ma y , 1891.]




RAILROAD

STOCKS AND

BONDS.

« 9

70

INVESTORS’

SUPPLEMENT,

IVot. LII.

Subscribers w ill confer a great favor by g iv in g Im m ediate notlee o f any error discovered in tbese Tables.
RAILROADS.

Bonds—^Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per When
Par
of
of
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.

on first page of tables.

Kan. C. W yand'e< N. W.—M.$19,000p.m.,g.,$&£.&
&
Kan. City & Beatrice 1st mortgage, gold, guar.c
Equipment trusts, Series I. A & B ..........................
Kentucky Central—Covington & Lex. mort. extend,
Maysville & Lexington RR. mortgage..................
New mortgage, gold ($7.000,000)....................... o*
Kentucky Union—1st mort. for $3,000,000, gold.c1
1
Keokuk < Des Moines—IstM., int. guar., C.R.I.&P.c’1
6
Keokuk & Western—Common stock...........................
Kings Co. Kiev.—1st. M., g.,ser.“ A” $550,000p.m.c*
2d mortgage ($7,000,000) $550,000 per mile
Funded coupon scrip........................................
Fulton Elev.lst M.,Ser. A,$550,000 p.m.,g.,guar.c*
Kingston (6 Pembroke—1st M.,gold,(reedem. at 105)
Knoxville Cumberland Cap & Louis—1st M., g ___c*
2d mortgage....................................... ; ................... c*
Lackawanna < Southwestern—Mortgage................
&
Lake Erie Alliance < South.—lstM .for$l,250,000.c
£
Inc. bonds, non-cum., g. (red. after 1897 at 106)c
Lake Erie < Western—Com. stock, $20,000 per mile
6
Pref. stock, 6 per cent (not cum.) ($20,000 p. m ).
1st mortgage, gold, ($10,000 per mile)...............c*
Lake Shore & Michigan Southern—Stock..................
Guaranteed 10 per cent stock.................................
Clev. Painesville & Asb. RR. 3d mortgage........ c
Buffalo &Erie ls tm . (Buffalo,N.Y.,toErie,Pa.).c
Lake Shore div. bonds (Buffalo to Toledo, O.)___c
Consol. 1st mort.sink.fund $250,000 yearly.c&r
Consol. 2d mort. (for $25,000,000), do........ e<
fcr
Detroit Monroe & Toledo 1st mortgage, guar.

134
35
8Ó
49
220
94
162
148
6
6
3
113
70
70
110
60
60
722
722
722
95
88
258
864
864
62

1888 $1,000 $3,750,000
500
1889
400,000
1887-9 1,000
626,000
1855
1,000
219,000
1,000
1876
400,000
1,000
1887
6,523,000
1,000
2,500,000
1888
2,750,000
1878 100 &c.
4,000,000
1885
1,000
3,377,000
1,000
1888
3,377,000
1890
416,250
1,000
1889
1,621,000
1882
1,000
572,000
1,000
1,500,000
1888
1,000
1889
500,000
1,000
1889
800,000
1,000
1887
346,000
1,000
1,680,000
1887
100 11,840,000
100 11,840,000
1,000
1887
7,250,000
100 49,466,500
100
533,500
1,000
819,000
1807
2,784,000
1868 500 &c.
1,000
1869
1,356,000
1,000 15,041,000
1870
1,000 24,692,000
1873
1,000
1876
924,000

another across the Kansas River. Construction in progress. Road and
bridge will entirely encircle Kansas City, connecting all lines of road.
The Central Trust Co. is trustee of both mortgages. Stock authorized
$2,000,000 (par $100).
K a n s a s City C lin ton & Springfield.—Owns from Cedar Junc­
tion, Kan., to Ash Grove, Mo., 164 miles, and branch to Pleasant Hill,
Mo., 10 miles; total, 174 miles, but only 163 miles operated. Built in
the interest of the Kansas City Fort Scott & Memphis RR., which com­
pany guarantees the bonds. There are $58,000 Pleasant Hill & De
Soto 7 per cents due October 1,1907. Stock authorized, $2,500,000; par,
$100; issued, $1,775,400, of which a majority is owned by the Kansas
City Fort Scott & Memphis RR.
In 1890 gross earnings, $441,195; net, $201,857. In 1889 gross,
$281,056; net, $107,845. In year ending June 30,1890 deficit under
charges, $24,808.
K a n s a s City F o rt Scott & M em p h is.—Owns main line from
Kansas City, Mo., to Memphis, Tenn., 487 miles, with branches, 184
miles; total owned, 671 miles; leases—Current River Railroad, Willow
Springs, Mo., to Cairo, 81 miles; total operated, 752 miles. Company
formed in April, 1888, by consolidation of the Kansas City Fort Scott &
Gulf and Kansas City Springfield & Memphis railroads.
Under the consolidated mortgage of 1888 (trustee New England Trust
Company of Boston) sufficient bonds are reserved to provide for all
prior bonds when due. The Fort Scott Southeastern & Memphis, Rich
Hill and Short Creek & Joplin roads have a sinking fund with which
bonds are bought at 110, or, if not offered, are drawn at 105 (of the
amount given above as outstanding, $208,000 were on June 30,1890,
held alive in the sinking fund).
The Current River Railroad bonds are guaranteed; they were issued
as per circular in V. 44, p. 246. The Kansas City & Memphis Railway
& Bridge bonds, also guaranteed, will be subject to sinking fund draw­
ings after 1891. The Kansas Equipment bonds are guaranteed, and the
issue is redeemable as a whole at any time at 110 and interest, and is
entitled to an annual sinking fund of $12,000, for which the bonds
may be purchased but cannot be drawn. Company also guarantees
$534,000 Kansas City Belt and $3,192,000 Kansas City Clinton &
Springfield bonds—see those companies.
Dividends on common stock since 1881—In 1882, 2 per cent; in 1883,
3 ; in 1884, 5*2; in 1885, 2*q ; in 1886, 4 ; in 1887, 4 ^ ; in 1888, 3*2; in
1889, 3; in 1890, February 15, 2; August 1 5 .1 ^ ; in 1891, Feb. 16,1.
Dividends on preferred Since I860—In 1881, 8%; in 1882 and since,
at the.rate of 8 per cent yearly.
From July 1, 1890, to March 31, 1891 (9 months), gross earnings
were $3,616,313, against $3,780,524 iai 1889-90; net, $1,018,310, against
$1,233,937; surplus over charges, $216,070, against $454,661.
Fiscal year changed to end June 30. The report for 1889-90 was in
Chronicle, Y. 51, p. 607, showing the follow ing:
1888-89.
1889-90.
$

$

4,545,567
Gross earnings.................................................
4,937,431
Net earnings— .............................
1,518,057
1,550,786
Charges, interest, traffic guarantee, etc............................ 994,537
1,070,490
Balance, after adding other incom e.. . . . . . .
Dividends paid................................................ .

606,578
516,924

569,161
566,414

Balance.......: ...................... .......................... sur.89,654
def. 2,747
—(V. 50, p. 205, 483, 622, 904; V. 51, p. 171, 383, 6 0 7 ; Y. 52, p. 279.)
K a n s a s City M e m p liis & B i r m i n g h a m .—Owns from Memphis
to Birmingham, Ala., 253 miles, and branches to Aberdeen, Miss., and
Bessemer, Ala., 23 miles; completed in October, 1887. First morcgage
bonds are subject to call at 110 and interest. The New England Trust
Company is trustee under the mortgage; abstract, V. 46, p. 575. The
Birmingham and Memphis Equipment bonds are both guaranteed by
this company, and are-redeemable on 60 days’ notice at 110 and inter­
est. The Kansas City Fort Scott & Memphis owns half the stock and
gives a traffic guarantee of 10 per cent of gross earnings derived from
business to and from this road, to be applied for interest. In year
ending June 30,1890, gross earnings, $1,209,733; net, $424,965, but
adding traffic guaranty ($24,697), etc., $450,103; surplus over charges!
$49,761. In 1888-89, net, $.514,512; total net (adding traffic guaranty,
etc.),$333,072. Stock, $5,956,000; par, $100. (V. 50, p. 275; Y. 52, p. 39.)
K a n s a s City Ac F a o ifie .—Line of road, Paola to Stevens, 130
nmes. Forms part of the Missouri Kansas & Texas main line to Kansas
City, having been leased to that company for 999 years from August 1,
1890. The lessee guarantees,by endorsement the interest on the new 4
per cent bonds, and if prior to August 1,1895, 30 per cent, and there­
after 33 per cent, of the gross earnings shall exceed the interest on the
bonds, taxes and corporate expenses, the amount of such e-xcess (all
advances by tylissouri Kansas & Texas having been settled) is to be paid
to the Kansas City & Pacific. See Y. 51, p. 457. Stock is $2.500,000,
o f which $1,-725,000 is owned by M. K. & T. From Jan. 1 to April 30,
1891 (4 months), gross earnings on 131 miles were $102.647, against
$88,709 on 125 miles in 1890. (V. 51, p. 457, 494.)
K a n s a s City St. J o s e p h & C o u n c il ISluflfs.—Owns from Kan­
sas City to Council Bluffs, 194 miles, branches 55 miles, proprietary
lines (Nodaway Val. and Tarkio Val. RRs.), 59 miles ; total operated, 308
miles. The capital stock of $5,262,600 was purchased by t ie Chicago
Burlington & Quincy in 1880, and the road is operated as part of that




- 5 g. J. & J.
In default.
5
J. & J.
In default.
Various
5
J. & D.
N. Y , Office.
7
J. & J.
do
do
J. & J.
do
do
4 g5 g. J. & J. N. Y., J. Kennedv Tod.
5
A. & O. N. Y., 13 William St.
1
N. Y., John Patón & Co.
5 g & 6 J. & J. N. Y., Am. Ex. Nat. Bk.
5
A. & O. Inter’st funded till 1893
I t o 6 April 1
New York.
5 g- M. & S. N. Y., Am. Ex. Nat. Bk.
6
J. & J. jN. Y., R. P. Flower & Co.
5 g- J. & D. New York and London.
do
do
6 g. A. & O.
5
J. & J. N. Y. Office. 48 Wall St.
None paid.
6 g. J. & J.
6 g.
1
N.
Q.—F. I Y. Office, 10 Wall St.
5 g. J. & J. N. Y., Central Trust Co.
4
F. & A. N. Y.,Grand Cent. Office.
5
F. & A.
do
do
7
A. & O.
7
A. & O.
7
A. & O.
7
See rem. C o u p o n s are paid
7
J. & D.
by Treasurer at
F. & A.
7
G r a n d C e n tr a l

Jan. 1, 1938
July 1, 1939
1891-1900
June, 1895
1906
July 1, 1987
July 1, 1928
Oct. 1, 1923
Apr. 1, 1891
Jan. 1, 1925
Apr. 1, 1938
Apr. 1, 1900
Mch. 1, 1929
Jan. 1, 1912
June 1, 1928
Oct. 1, 1919
1929
Jan. 1, 1917
Jan. 1, 1917
May
Jan.
Feb.
Feb.
Oct.
Apr.
Apr.
July
Dec.
Aug.

15, 1891
1, 1937
2, 1891
1, 1891
1, 1892
1, 1898
1, 1899
1, 1900
1, 1903
1, 1906

system. In 1889-90 gross earnings were $1,804.579; net, $653,023 ;
surplus over fixed charges, $220,257, from which paid dividends
$210,516.
K a n sa s City W y a n d o tte Ac N orth w estern .—Road from
Kansas City to Beatrice; Neb., 175 miles, 26 miles of this (Seneca to
Axtell, 12 miles, Virginia to Beatrice, 14 miles) being leased, the
former for 99 years from St. Jo & Grand Island and the latter for 999
year from Chicago Rock Island & Pacific. Owns branch to Leaven­
worth and Fort Leavenworth, 16 miles, ancLother branches, 4 miles.
Operates, under 99 years lease, line from Tonganoxie to Carbondale, 43
miles. Total, 239 miles operated.
In March, 1890, the Farmers’ Loan & Trust Company, trustee of the
first mortgage, instituted foreclosure proceedings, and Mr. Newman
Erb was appointed receiver. (See V. 50, p. 451.) In June, 1890, a
large interest in the road was purchased by Mr. Jay Gould. (See V. 50,
p. 874.) Stock issued, $2,773,000; par, $100. From March 24 to Dec,
31.1890, under the receiver, gross earnings were $293,714; operating
expenses and taxes, $306,778; deficit, $13,064. In year ending June
30.1890, gross earnings were $479,931; net, $27,067. Newman Erb,
Receiver, Kansas City, Mcf. (V. 49, p. 22, 261, 654; V. 50, p. 451, 735.
874; V. 51, p. 51.)
K e n tu c k y Central R a ilw a y .—Owns from Covington, Ky., to
Roundstone (less three miles leased), 148 miles; Paris to Lexington, 19
miles; Paris, Ky., to Maysville, Ky., 49 miles; total owned, 217 miles;
leases Richmond to Rowland, 34 miles; Roundstone to Livingston, 3
miles; total operated, 254 miles.
The Kentucky Central RR. was sold in foreclosure April 23,1887, and
the present company organized with stock of $7,000,000 ($6,907,300
issued); par $100. In December, 1890, the Louisville & Nashville ac­
quired the stock (See V. 51, p. 876), assuming control February 1,1891,
See abstract of mortgage (Metropolitan Trust Company of New York,
trustee), V. 45, p. 372. The company loaded of the Louisville & Nash­
ville Railroad its Richmond branch for 90 years from January 1,1883,
for $24,00o per annum. The Maysville Division is leased for $28,000
per year, but the stock is all owned.
From January 1 to Oct. 31, in 1890 (10 months), gross earnings were
$909,742, against $874.264 in 1889; net, $400,277, againd $424,316,
In 1889, gross earnings were $1,063,815 ; net, $481,978 ; surplus over
charges, $99,201. In 1890 gross about $1,135,000. (V. 48, p. 4 8 9
V. 50. p. 4 2 1 ; Y. 51, p. 875.)
K e n t u c k y U n io n .—Owns from Lexington, Ky., to Inverness,
Ky., about 94 miles; completed in June, 1800. Projected to Big
Stone Gap.
In Feb., 1891, Mr. H. F. Kean, of New York, was appointed receiver,
and in April, 1891, he was granted permission to complete the road to
Jackson, 3 miles, and to issue receiver’s certificates for $125,000. See
V. 52, p. 642.
Capital stock authorized, $5,000,000 (par, $100), of which the
counties of Clark and Fayette and city of Lexington subscribed
$300,000. The first mortgage is for $3,000,000, and covers road and
equipment. The bonds were guaranteed principal and interest by the
Kentucky Union Land Co., which owns 550,000 acres of timber and
mineral lands, and has a paid-up capital of $5,600,000, without mort­
gage or debenture debt. There are also second mortgage bonds' out|standing. (Y. 50, p. 519, 770; V. 52, p. 203, 279, 427, 642.)
K e o k u k Ac R e s M o in e s .—Owns from Keokuk, la., to Des Moines,
la., 182 miles. Leased for 45 years from October 1,1878, to the Chicago
Rock Island & Pacific Railroad, the fessee to pay 25 per cent of the
gross earnings, but guarantees the interest (not the principal) on the
present bonds. The stock is $1,524,600 8 per cent preferred and $2,640,400 common (par of both $100), a majority of which is held by the lessee.
K e o k u k & W e s t e r n ,—Owns Alexandria, Mo., to Van Wert, la.,
143 miles; operates Keokuk to Alexandria, 5 miles; was formerly the
Missouri Iowa < Nebraska; part of the Wabash system sold in foreclos­
fe
ure August49,1886, and reorganized under tills title. Stock, $4,000,000; par, $10.0 A 6 per cent note for $140,000, secured by mortgage,
payable at will, is outstanding. Dividends: In 1883, 1 per ce n t; in
1891, April 1,1.
From Jan. 1 to March 31,1811, (3 mouths); gross earnings $93,278,
against $89,156 in 1893 ; net, $42,829, against $33,163. In 1890 gross,
earnings were $371,67 4; not earnings, $141,433.
fu 1889 gross,
$856,157; net, $123,760. G. H. Candee, 52 William Street, N. Y., VicePresident.
K i n g s C o u n t y E le v a t e -i,—Owns road in operation through Ful­
ton Street, Brooklyn, to former city line, 6*14 .miles;"Leases Fulton Ele­
vated, in operation from former city limits to easterly line of Schenek
Avenue, l 4 miles (total track 3 miles), and projected- to Jamaica, 1 2-5
miles additional. Stock authorized and outstanding, $3,250,000. In­
terest on the second mortgage bonds for .1890, 1891 and 1892 is funded
into LO-year deb cue afeaceip. This scrip receives 1 per eeat interest till
April 1,1891, then 3 p. e. till April 1,1392, then 5 per cent till April 1,
1893, and thereafter 6 per cent yearly'. Of the 1st mort. bonds $290,000
are 6s ? trustee is Mercantile Trust Company of New York. (See ab­
stract of first mortgage in Y. 49, p. 237.) The Fulton Elevated Railroad,
is leased for 99 years, a ad its bonds guaranteed, principal and interest
For 6 months ending December 34, 1890, gross earnings wore
$378,543; net, $103,808; surplus over charges, $8,605. In year end­
ing June 30, 1890, gross earnings wore $716,707 ;net earnings, $157, -

M a y , 1801.]

RAILKOAD

STOCKS

AND

BONDS.

71

Subscribers w ill confer a great fa v or by giv in g im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due,
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes of
Par
When
of
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Cent.
on first page of tables.
Whom.
Road. Bonds Value.
Dividend.
Lake Shore < Michigan Southern—(Concluded.)—
£
Kalamazo A White Pigeon 1st mortgage, guár. .c
Bat. Cr. & Stur. 1st M., g.,p. & i. guar.(see M.Cen.)
Sturgis Goshen & St. L. 1st mort., g., p. & i. guar.
Kal. Allegan & Gr. Rapids stock, 6 p. c. guar.......
1st mortgage, guaranteed.................................. c
Jamestown & Franklin (leased) 1st mortgage___c
2d mortgage......................................................... c
Mahoning coal stock.................................................
Preferred stock, guaranteed 5 per cent.............
1st M., Youngs, to And., and branches, guar, .c
Leav. Top. & S. T .—lstM .,12guar.byAt.&12byUn.P.
P
Lehigh < Hudson River—1st M.,g.,int.red’c’dto5p.c.
£
2d mortgage...............................................................
Warwick Yalley 1st & 2d Ms. ($240,000 2ds,1912)
Consolidated mortgage for $3,000,000, gold_ c*
_
Lehigh < Lackawanna—1st mortgage..................... c
6
Lehigh Yalley—Stock ($106,300 T 10 p. c. pref.)...
s
1st mortgage, coupon and registered.......7 ...........
2d mortgage............................................................. r
Con. M., sterling, g.,s.f.2 p.c.v’rly, dr’n at par.c&r
do
coup. ancTregis., $1,866,000 are l^ s.c& r
do
annuity, $1,134,000 aré 41
ss....................
Leh. Yal. of N. Y., 1st M. for $15,000,000g.gu.c*&r
Pennsylvania & N. Y.—1st M. end. by Leh. Val.c*
1st mortgage, endorsed by Lehigh Valley___c*
Gen. mort. ,$10,000,000, guar.prm. &int.(end.)r
Easton & Amboy, 1st M.guar.Easton to P.Amboy
Delano Land Company bonds, endorsed...............
Litchfield Oarroll.& Western— 1st M. ($10,000p.m.) c*

$400,000
37 1890 $1,000
5 g79,000
41 1889
3 g.
322,000
29 1889
3 g.
610,000
3
io o
58
840,000
5
1,000
58 1888
298,000
7
1,000
51 1863
500,000
7
1,000
51 1869
1,500,000 21 2ex
a&
50
42
661,850
50
42
2*2
1,500,000
5
1,000
42 1884
1,380,000
1,000
1882
46
û g*
661,850
5
1,000
41 1881
208,180
.5
1,000
63 1887
6
385,000
22 ’79-’ 81 500 &c.
575,000
1,000
63 1890
5 g100,000
1,000
7
25 1877
50 40,441,310
1M
5,000,000
61,000
101 1868
6,000,000
7
1,000
101 1870
2,185,000
6
1,000
285 1873
1,000 10,507,000 4H & 6
285 1873
4,669,000 4^2 & 6
1,000
285 1873
1,000 10,300,000
41
2g.
1890
1,000
1,500,000
7
105 1866
1,000
1,500,000
7
105 1866
1,000
7,000,000
4& 5
105 1888
1,000
6,000,000
5
60 1880
1,000
1,355,000
7
1872
1,000
516,000
52 1886
6 g-

J. & J.
Depot, New York, (
J. & D.
and registered inJ. & D.
terest by Union
A. & 0. ■ Trust Company.
J. & J.
J. & J.
i
J. & D.
F. & A. £ r . Y., Gr’d Cent. Stat’n.
J. & J. N. Y., Union Trust Co.
J. & J.
do
do
J. & J.
Boston.
J. & J. N. Y., Nat. Exch. Bank.
J. & J.
do
do
A. & O.
do
do
J. & J.
do
do
J. & D. Phila.,Fid. I. & S.Dep.Co.
Q.—J. Phila., 228 So. Third St.
J. & D. Reg.atoffice; cp.Bk.N.A.
M. & S. Phüa. Of., 228 So. 3d St.
J. & D.
do
do
J. & D. Reg.at office;cp.Bk.N. A.
J. & D. Phüa., Of.,228 So. 3d St.
J. & J.
Philadelphia.
J. & D. Phila., Bk. N. America.
do
do
J. & D.
A. & O. Phila., Lehigh Yal. RR.
M. & N. Phila., Of., 228 So. 3d St.
do
do
J. & J.
N. Y., Am. Ex. Bk.
J. & J.

Jan. 1, 1949
Dec. 1, 1989
Dec. 1, 1989
Oct. 1, 1899
July 1, 1938
Var. to J’ly,’97
June 1, 1894
Feb. 2 , 1891
Jan. 1, 1891
July 1, 1934
July 1, 1912
July 1, 1911
July 1, 1917
1900 & 1912
July 1, 1929
Dec. 1, 1907
Apr. 15,1891
June 1, 1898
Sept. 1, 1919
Dec. 1, 1897
Dec. 1, 1923
Irredeemable
July 1, 1949
June 1, 1896June 1, 1906
Apr. 1, 1939
1920
Jan. 1, 1892
Jan. 1, 1916

■

671; payments (interest on debt, $170,850; other, $3,266), $174,116;
deficit under charges, $16,445. President, James Jourdan. (V. 48, p.
855 ; Y. 49, p. 22,237, 825 ; V. 51, p. 457 ; V. 52, p. 391..)
K in g s to n Sc P em b rok e.—Owns from Kingston, Ontario, Can., to
Renfrew on the Canadian Pacific Railroad, 104 miles; branches, 9 miles;
total 113 miles. Bonds are redeemable on notice at 105. Report for
1889 in V. 50, p. 390. Stock, $4,500,000 ; par, $50. Gross earnings,
1890, $178,864; net, $44,435; surplus above charges, f$6,865. In
1889, gross, $182,875 ; net, $48,363 ; surplus over interest, $14,043.
See full statement in V. 44, p. 402. (V. 48, p. 526 ; V. 50, p. 390.)
K n o x v ille C um berland Gap Sc L o u isv ille .—Knoxville, Tenn.,
with tunnel at Cumberland Gap, to a connection with the Louisville &
Nashville at Middlesboro, a distance of 70 miles. It forms with the
Marietta & North Georgia a direct line, opened in August, 1890, to At­
lanta, Ga. The mortgage is for $1,500,000 on above mileage and pro­
vides for the issue of $500,000 additional at $15,000 per mile for exten­
sions. The City of Knoxville subscribed to $225,000 stock. (V. 48, p.
420; Y. 51, p. 345.) New York office, 59 Wall Street.
L a ck a w a n n a Sc Sou th w estern .—Lackawanna Junction, New
York, to Perkinsville, 41 miles; Hornellsville to Waylaud, 11 miles;
Olean to Angelica, narrow gauge, 38 miles ; total, 90 miles. In April,
1889, the Lackawanna & Pittsburg Road was sold in foreclosure and
reorganized. Litigation in progress, and pending a decision of the
courts the only portion of the road in operation is that between
Hornellsville and Wayland, which is operated as the Rochester Hor­
nellsville & Lackawanna Railroad, with Mitchell S. Blair for receiver;
and that portion between Bolivar and Olean, which is called the Lacka­
wanna & Pittsburg Railroad, of which George D. Chapman is receiver,
Stock, $2,800,000; par $100—(W 48, p. 688.)
L a k e Erie A llian ce & Southern.—Owns from Bergholz, O., to
Phalanx, O., 60 miles. Sold in foreclosure December, 1886, and reoranized, and again sold in foreclosure in January, 1891. It is proposed
o extend the road east and north to Fairport, on Lake Erie. Stock
is $2,000,000; par, $100. There are $150,000 Alliance & Lake Erie
bonds on road from Phalanx to Alliance, 21 miles.
From January 1 to March 31, 1891 (3 months), gross earnings
were $16,770, against $14,970 in 1890; net, $1,806, against $2,464.
In 1890 gross $68,009; net, $11,764. In 1889 gross $63,144; net,
$12,463. L. M. Lawson, Treas., 102 Broadway, N. Y.—(V. 51, p. 680; V.
52, p.164.)
L a k e Erie Sc W estern R a ilro ad .—(¿fee Man.)—Owns from San­
dusky, O., to Peoria, 111., and branch to Minster, 428 miles, and from
Indianapolis to Michigan City, 161 m iles; also Fort Wayne to Connorsville and branch to Rushville, 133 miles; total, 722 miles. Com­
pany formed in 1887 after foreclosure (on December 14, 1886,)
of the Lake Erie & Western Railway. In March, 1887 purchased the
Indianapolis Peru & Chicago Road, 162 miles, and in June, 1890, ac­
quired the Fort Wayne Cincinnati & Louisville. (See Chronicle, V.
50, p. 590.) The terminals at Indianapolis, Peoria, Fort Wayne and
New Castle are operated partly under lease. This company proposes to
build the Indianapolis & Northwestern from Muncie to a point on the
Indianapolis Division, to make a direct line from Sandusky to Indian­
apolis. See V. 52, p. 497.
Abstract of mortgage (Central Trust Company and A. L. Mason, trus­
tees), in V. 46, p. 45.
Dividends on preferred stock—In 1890, 4 per cent (1 per cent quar­
terly) ; in 1891, Feb. 16,1 per cen t; May 15,1.
Price of common stock since reorganization—In 1887,13@241 ; in
2
1888, 121 191 ; in 1889,16®2038; I n 1890,10^2® 1978; in 1891, to
2@
s
May 22 inclusive, 1258®151
4.
Price of preferred—In 1887, 39% ®61; in 1888, 401
4@5578 ; in 1889,
5138®661 in 1890, 44®68; in 1891, to May 22 inclusive, 541
4;
4®611
2.
From January 1 to March 31 (3 months), in 1891, gross earnings
on 722 miles were $732,287, against $716,581 in 1890 on 722 miles;
net, $317,990, against $281,750.
The annual reportrfor 1890 was in V. 52, p. 497. In the following the
figures for both years include the Fort Wayne Cincinnati & Louisville.
1889.
1890.
Gross earnings
$2,839,278
$3,074,438
Net earnings..............................
$1,116,249
$1,275,656
Deduct—
Interest on bonds..... ..........................................
303,000
332,750
Taxes and rentals.............................................
139,320
146,503
Dividends................................. ......................... (1%) 118,400 (4%) 473,600

f

Surplus....................................¿ .................... $555,519
$322,803
Calvin S. Brice, New York, President.—(V. 49, p. 471, 690; V. 50, p.
138, 3 9 0 , 483, 590, 834 ; V. 52, p. 497.)
L ake Shore & M ich igan S o u t h e r n .-(See Mem New York Gen
tral < Hudson R iver.)—Owns from Buffalo, N. Y., to Chicago, 111., 540
£
miles; branches, 319 miles; total owned, 859 miles. Proprietary lines
(entire stock owned) Detroit & Chicago, 68 miles ; Detroit Montreal &
Toledo, 62 miles ; Kalamazoo & White Pigeon, 37 miles ; Northern Cen­
tral (Mich.),_ 61 miles; Sturgis Goshen & St. Louis &c., 36 miles;
total, 263 miles. Leases Kalamazoo Allegan & Grand Rapids, 58 miles;
Jamestown & Franklin, 51 miles; Mahoning Coal RR., Youngstown to
Andover, O., and branches, 50 miles; Detroit Hillsboro & Southwestern,
65 miles; Fort Wayne & Jackson, 98 miles ; total, 322 miles. Total road
owned, leased and operated Jan. 1,1891,1,445 miles.




Organization, &c.—This company was a consolidation of the Lake
Shore RR. and Michigan Southern & Northern Indiana RR., May 27,
1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning
Coal RR. is leased in perpetuity at 40 per cent of gross earnings, and
its preferred stock and bonds guaranteed. Lake Shore owns $865,900
of its common and $399,500 of its preferred stock. The N. Y. Chic. &
St. Louis (Nickel Plate) road has been controlled by ownership o f
stock since 1882, Lake Shore now owning $6,240,000 of its common,
$6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock.
The company owns also (besides the entire stock of the proprietary
lines) $2,675,696 Pittsburg & Lake Erie stock, $470,100 Cincinnati Wa­
bash & Michigan stock and $169,100 common and $774,400 preferred
Cleveland Lorain & Wheeling.
Stocks and B onds.—The stock has remained at $50,000,000 since
1871. The guaranteed stock of $533,500 carries 10 per cent dividends.
Dividends on common stock since 1870. In 1871, 8; in 1872, 8; in
1873, 4; in 1874, 3%; in 1875, 2; in 1876, 3%; in 1877, 2; in 1878, 4; in
1879, 6*2; in 1880,1881,1882 and 1883, 8 per cent each year; in 1884,
7; in 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; in
1890, in 1891, February 2, 2*2 and l ^ extra.
Mahoning Coal common stock paid in 1889 4 ^ per cent; in 1890, 5;
in February, 1891, 21 and 2 extra. In February, 1890, the stock waa
s,
increased for the acquirement of new lines. See V. 50, p. 71, 377.
P rice of Stock.—In 1880, 95®1395s; i n l 881, 11258135%; in 1882,98
®1201 in 1883, 9234-@ ll4 78; in 1884, 59*2®104%; in 1885, 50%®8978;
e;
in 1886, 76i8®1003s; in 1887, 89®9834; in 1888, 85%®10478; in 1889,
99%®1081 ; in 1890. 101®114is; in 1891, to May 22 inclusive,
s
lO G ^ U S S g,
interest on the consolidated first mortgage is paid on coupon bonds
J. & J., on registered bonds Q.—J.
The first consolidated mortgage bonds are redeemed each year by
$250,000 contributed to the sinking fund. The above bonds of aU
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $5,000,000 December 31,1890.
Operations, F inances, &c.—The annual reports of this company ar®
models of clearness in all the statistical matter. The road is greatly de­
pendent on through traffic, or traffic from competitive points, and its
business is injured by any cutting of rates.
Nothing has been charged to construction or equipment account since
1883, the outlays therefor in excess of renewals amounting in 1890 to
$1,680,000.
From January 1 to March 31, 1891 (3 months,) gross earnings were
$4,750,632, against $4,905,897 in 1890; net, $1,535,104, against
$1,645,217; surplus over charges, $570,604, against $680,717.
The annual report for 1890 was published in Y. 52, p. 716.
OPERATIONS AND FISCAL RESULTS.

y 1887.
1888.
1889.
1890.
Miles operated........
1,341
1,342
1,410
1,445,
Earnings—
„ $
$
$
$
Passenger...................
4,650,653 4,810,148 5,082,480 5,060,0231
Freight .................... 12,547,923 11,629,174 12,545,810 13,759,123
Mail, exp., rens, &o.
1,512,386
1,590,305
1,858,906 2,046,613
Total gross earnings 18,710,962 18,029,627 19,487,196 20,865,760
Op. exp’s, incl. taxes 11,029,798 11,310,371 12,847,452 14,220,481
Net earnings....
P.c.of op.ex.to ear’gs

7,681,164
58*95

6,719,256
62*73

6,639,744
65*93

6,645,279
68*15

1888.
$
6,939,148

1889.
$
7,022,285

1890.
$
7,144,037

517,418
3,257,515
53,350

507,645
3,245,015
' 53,350

564,419
3,225,723
53,350

INCOME ACCOUNT.

Receipts—
Net, incl. oth.inc’me
Disbursements—
Rentals paid............
Interest on debt......
Divid’s on guar. s’k.

1887.
$
7,811,163
449,313
3,276,140
53,350

Total disb’sem’ts 3,778,803 3,828,283 3,806,010
3,843,492
Surplus for dividend 4,032,360 3,110,865 3,216,275 3,300,545
Dividends........ ..
(4)1,978,660 (5)2,473,325 (5)2,473,325 (6)2,967,990
Balance..................... sr.2,053,700 sur.*637,540 sur.742,950 sur.332,555
—(Y. 50, p. 314. 6 5 9 , 703, 736, 904; V. 51, p. 240, 747, 909 ; V. 52, p*
280, 321, 7 1 6 , 761, 796.)
L ea v en w o rth T o p ek a Sc S. VV.—Owns from Leavenworth toMeriden Junction, in Kansas, 47 miles. Operated as part of the St.
Joseph & Grand Island Division of the Union Pacific, its stock ($1,380,000) being owned one-half each by Union Pacific and Atchison
Topeka & Santa Fe. Of the bonds $690,000 are guaranteed by Union
Pacific, the balance by Atchison. In 1890 gross $30,993; deficit from
operating, $53,035, (against $32,280 in 1889) ; deficit under charges,
$118,507, against $97,632 in 1889.
L ek igh Sc H u d so n R iv e r .—Owns from Greycourt, on Erie Road
to Belvidere, N. J., 63 miles. Proprietary line—Hudson Junction to
Maybrook, N. Y., on line to the Poughkeepsie Bridge, 11 miles ; track­
age Pennsylvania RR., Belvidere to Phillipsburg, 14 miles ; other mile­
age, 2 miles; total operated, 90 miles. In August, 1888, the Central
of New Jersey purchased about one-third the company’ s stock, and

INVESTORS’
SUPPLEMENT.
[Y ol.

Lli.




Ma t , 1891.]

RAILROAD

STOCKS

AND

BONDS.

73

Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f any error discovered in these T a b les.
Bonds—Prinol RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes of
of
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Little Miami—Stk. com., gu. 8 p. c. 9 9 yrs.P.C.&St.L.
Streetcon. ls t& 2 d Ms. (jtly. with (Jin. &I. RR.).o
Renewal mortgage.................................................. 0
Convertible bonds for $3,000,000.........................
Little Rock. & Memphis—First mortgage, gold........ c
Little Schuylkill—
Stock...............................................
Long Island—Stock............................................. ........
1st mortgage, main line........................................ c*
2d mortgage............................................................c*
Consol. M.g. ($1,390,000 reserv’d for prior b’ds)c*
General mortgage for $3,000,000, gold............. c*
New York & Flushing 1st mortgage, assumed_
_
Brooklyn & Montauk 1st M., $250,000 are 6s...c*
Second mortgage, assumed (for $600,000), g.c*
Long Island City & Flushing 1st M,. assumed, .c*
Consol, mortgage, gold, assumed..................... c*
New York & Rockaway 1st mort., guar. int. only.
Smithtown & Port Jeff. 1st M., gixar. prin. & int.
Louisiana Western—1st mortgage, gold....................
Louisv. JEvansv. < St. L. Consol.—1st mort. E.R.&E.
&
L. E.&St. L .lstM .,g.,(lstonl82m .,2don 72m .)c*
2d mortgage, gold, unassented........................ c*
Hunt. TelL City & C. RR. 1st mort. gold, guar.c*
Illinois & St. Louis 1st mortgage.........................c*
Venice & Carondelet mortgage, guaranteed___c*
Consolidated mortgage, gold ($8,000,000)........ c*
Louisville < Nashville—Stock.....................................
6
Lebanon Br., iunc. to Jellico, Louisville loa n .. .c*
Consol. 1st M. (prior liens are only $333,000). .c*
Memphis & Ohio 1st M., Paris to Mem., guar, .c*
Mem.Clarks.&L. 1st M.,£ ,Guthrie to Paris,Tenn.c*

52
2 1864-8
84 1882
135 1887
28 •
94
158
180
180
2
76
76
23
23

386

1868
1878
1881
1888
1880
1881
1888
1881
1887
1871
1871
1881
1881
1886
1886
1887
1875
1880-2
1889

171
419
130
83

1863
1868
1871
1872

19
112
72
182
182
24
20

$4,943,100
525,000
1,500,000
None
3,250,000
1,000
2,487,850
50
50 12,000,000
1,121,000
500
268,703
100 &c.
3,610,000
1,000
2,150,000
1,000
1,000
125,000
1,000
1,000,000
1,000
600,000
600,000
1,000
1,000
650,000
500
250,000
500
600,000
1,000
2,240,000
1,000
900,000
1,000
2,000,000
1,000
670,000
1,000
300,000
500
200,000
1,000
300,000
1,000
3,795,000
100 48,000,000
1,000
333,000
1,000
6,806,000
£200
3,500,000
£200
2,015,660
$50
1,000
1,000

this, with the stock held hy the Lehigh Coal & Navigation Co., controls
the road. In addition to above bonds there are $65,000 Wawayanda
6s, due 1900, and $53,430 6 per cent car trusts. Stock, $1,340,000;
par, $100. The general mortgage for $3,000,000, (trustee, Central
Trust Company of New York), covers the stock of the proprietary line,
and $1,750,000 bonds are reserved for prior bonds when due. (See Y.
51, p. 494.)
From July 1,1890, to March 31,1891 (9 months), gross earnings were
$279,813, against $224,035 in 1889-90; net, $96,730, against $89,578 ;
surplus over fixed charges, $12,041, against $17,407. In year ending
June 30,1890, gross earnings were $314,332; net, $135,422; surplus
over interest and taxes, $35,526, against $6,923 in 1888-9. Grinnell
Burt, President, 80 Broadway, N. Y. City. (V. 50, p. 353; Y. 51, p.
494, 715, 787, 9 0 8 ; V. 52, p. 280, 762.)
h e h ig h & L a c k a w a n n a .—
-Owns from Bethlehem, Pa., to Wind
Gap, Pa., 25 miles; thence, in connection with the Wind Gap & Dela­
ware Railroad, to Saylorsburg and Bangor, Pa., 38 miles. Opened in
1867. Capital stock, $370,500; par, $50. Gross earnings in 1889,
$68,700; net, $13,321. In 1888, gross, $61,383.
L eh ig h V a lle y .—(See Map) —Main line, Perth Amboy, N. J., to Gen­
eva, N. Y., 340 miles; branches to Audenried, Tomhicken, Hazleton,
<&c., 480 miles; Southern Central RR., 114 m iles; State Line & Sullivan
RR., 24 miles. Total system, including branches and their sidings,
1,059 miles. Other sidings, 491 miles; second track, 305 miles. Total
track Jan. 1,1891,.1,855 miles. Trackage: Pennsylvania RR., 50!miles;
New York Central', 15 miles; Erie, 188 miles; Central of New Jersey,
21 miles. Company expects to have a through line from New York to
Buffalo by July 1,1892. (See V. 50, p. 834.)
The consolidated mortgage of 1873 (trustee, Fidelity Insurance, Trust
& S. D. Company of Phil.) is for $40,000,000, of which $12,000,000 are
reserved to retire $11,000,000 prior liens when due. The bonds are
issudd in three series? of which the sterling issue, “ class A,” is subject to
call at par in increasing amounts each year, $269,000 being the amount
payable in 1891. A second series is composed of the “ coupon and reg­
istered” bonds, which are not subject to call, but which prior to Nov.
13,1893, may be converted at option of holders into bonds of the third
series, these last being annuity bonds and irredeemable, never falling
due except in case of default. All these issues are equally secured.
The Lehigh Valley Railway Company of New York owns a road
which when completed will extend from Buffalo, N. Y., to Sayre, Penn.,
283 miles double track. Of this, 131 miles are in operation, and the
balance under construction. The company’ s stock is all owned by the
Lehigh Valley RR., which guarantees principal and interest of the
per cent bonds of 1890, this guaranty being endorsed on the bonds.
Trustee of mortgage, Girard Life Insurance Company, Philadelphia.
(See mortgage abstract V. 51, p. 114.)
The Pennsylvania & New York Canal & Railway is leased for 99 years
from December 1,1888, to Lehigh Valley, which has assumed its debt
and owns all its stock. Under its general mortgage of 1889 (trustee,
Girard Life Insurance Company) sufficient bonds are reserved to take
up prior bonds when due. Lehigh Valley also guarantees interest on
certain securities of the Morris Canal. (See that company under mis­
cellaneous.) There is an important contract for supplying the city of
Newark with water. (See report V. 50, p. 137.)
Dividends on common stock since 1880—In 1881, 5*2 ; in 1882, 6*2 ;
in 1883 and 1884, 8 ; in 1885, 6 ; in 1886, 4 ; in 1887, 4 *2 ; from 1888
to April, 1891, both inclusive, at rate of 5 per cent yearly.
Price of common stock in Philadelphiar— 1880, 46®57%; in 1881,
in
571 64:l4 ; in 1882, 581 67% ; in 1883, 63®731i; in 1884, 57®7178 ;
2@
4®
in 1885, 54^2®6114; in 1886, 55l4®62; in 1887, 5378®57% ; in 1888,
5112® 5778 ; in 1889, 52® 55; in 1890, 47*2® 5438; in 1891, to May 22
inclusive, 461 51.
4®
The fiscal year ends November 30. The last annual report was in the
C h r o n i c l e , V. 52, p. 162.
. •

2
6
5
7
5 g.
313
1
7
7
5 g.
4 g.
6
5 & 6 g.
5 g.
6
5 g.
7
7
6 g.
6
6 g.
2 to 6 g.
6 g.
8
* 6
5 g.
213
6
7
7 g.
- 6 g.

Q.—M. Cinn.,OfHce, 1st Nat.Bk. June-15,1891
Various
do
do
1894-1898
M. & N. N. Y., Bank of America. Nov. 2, 1912
M. & S. N. Y., Central Trust Co.
J. & J. Phila., Of., 410 Walnut
Q.—F. N. Y., Corbin Bank’g Co.
M. & N.
do
do
F. & A.
do
do
do
do
Q .-J .
J. & D.
do
do
M. & 8.
do
do
M. & S.
do
do
J. & D.
do
do
M. & N.
do
do
M. & N.
do
do
A. & O. N. Y., Corbin Bank’gCo.
M. & S.
do
do
J. & J. N.Y., S. Pac.Co., 23 B’rd
J. & J. N. Y., Security & Tr. Co.
A. & 0.
do
do
A. & O.
do
do
A. & 0.
do
do
J. & D.
do
do
Various
do
do
do
do
J. & J.
F. & A. N. Y., 20 William St.
A. & O.
do
do
A. & O.
do
do
J. & D. London, Baring Bros.
F. & A.
do
do

Sept. 1, 1937
Jan. 12,1891
May 1, 1891
May 1, 1898
Aug. 1, 1918
July 1, 1931
June 1, 1938
Mch. 1, 1920
Mch. 1, 1911
June 1, 1938
May 1, 1911
May 1, 1937
Apr. 1, 1901
Sept. 1, 1901
July 1, 1921
July 1, 1921
Oct. 1, 1926
Oct. 1, 1936
Oct. 1, 1927
June 1, 1895
1900-1902
July 1, 1939
Feb. 5, 1891
Oct. 15,1893
Apr. 1, 1898
June 1, 1901
Aug. 1, 1902

renewable forever. The Pennsylvania RR. Co. is a party to the con­
tract and guarantees its faithful execution. Road is now operated by
Pittsburg Cincinnati Chicago & St. Louis Railway Co. Lease rental is 8
per cent on $4,943,100, interest on debt and $5,000 per annum for Little
Miami Company’s expenses of organization; the fulfilment of the
lessor’s lease obligation is also stipulated. In addition to above bonds
there is $100,000 6 per cent permanent capitalized deb t; interest Janu­
ary and July. Lessee’s report for this road shows net loss to lessee; In
1886, $468,680; in 1887, $298,405; in 1888, $421,355; in 1890, earn­
ings, $2,081,322; net. including income from investments, $346,945;
net loss to lessee, $384,451, against $385,873 in 1889. The Little Miami
Co. does not admit these losses.
In January, 1890, stockholders voted to authorize the issue of $3,000,000 7 per cent bonds (to be issued to the lessee from time to time in
payment for betterments), and also $3,000,000 stock, into which the
bond shall be convertible. Negotiations with lessee are still pending,
and no convertible bonds had been issued prior to March 15,1891.
—(V. 49, p. 300, 434, 580, 789; V. 50, p. 7 1 ,17 4 ; V. 51, p. 51.
L ittle R o c k & M e m p h is.—Owns from Little Rock? Ark., to Missis­
sippi River, opposite Memphis, 135 miles. The Memphis & Little Rock
Road was sold in foreclosure in 1872, again in 1877 and again in 1887.
Stock, $3,250,000; par, $100. From Jan. 1 to Nov. 30 (11 months) in
1890, gross earnings were $531,521, against $541,845 in 1889; net,
$119,542, against $160,490. In 1889, gross, $610,154; net, $178,999;
surplus over interest, $18,999. Rudolph Fink, President, Memphis, Tenn.
L ittle Sch u ylkill.—Owns from Port Clinton to Tamanend, 28
miles. Leased to the Philadephia & Reading Railroad for 93 years from
July 7, 1868. Extra dividend of l ^ per cent was paid July 7,1888,
and of 1 per cent January 11,1890.
L o n g I s la n d .—Owns from Long Island City, N. Y., to Greenport,
N. Y., 94 miles; Long Island City to Great Neck, 14 m iles; Bushwick
to Sag Harbor, 98 m iles; branches, 81 miles; total owned, 287 miles.
Leases Smithtown & Port Jefferson RR., 19 miles; Stewart’s RR. to
Bethpage, 14 m iles; Stewart’s RR. to Hempstead, 2 miles; New York
& Rockaway RR., 4 miles (and 5 miles unoperated); Brooklyn & Jamaica
RR. 10 miles; New York Brooklyn & Manhattan Beach Railway and
branches, 20 m iles; total leased, 69 miles. Total of all, 356 miles.
The control of the company was sold to the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in December, 1880. (See
also V. 52, p. 571, 608.) In July, 1881, the stock was increased from
$3,260,700 to $10,000,000, and in 1889 to $12,000,000 in order to ab­
sorb the Brooklyn & Montauk.
The Central Trust Company is trustee of the general mortgage of
1888. There are also $236,000 real estate mortgage 5s to 7s.
Dividends since 1881—In 1882, 1; from 1883 to May, 1891, both
inclusive, at the rate of 4 per cent per annum.
Price of Stock—In 1883, 58®86%; in 1884, 62®781 in 1885, 62®
4;
807s; in 1886, 80®100; in 1887, 85®99%; in 1888, 87i2®95; in 1889,
891
2®961 in 1890, 82®95; in 1891, to May 22, inclusive, 86®961
2;
4.
From July 1,1890, to March 31, 1891 (9 months), gross earnings
were $3,011,001, against $2,678,743 in 1889-90; net, $1,144,330.
against $1,001,057; surplus over fixed charges, $567,148, against
$435,180.
Fiscal year ends now June 30; the 1889-90 report was in V. 51, p.
536. In the following statement the figures for 1889-90 are for year
ending June 30, all others for year ending September 30.
INCOME ACCOUNT.
s.
1886-87.
1887-88.
1888-89.
1889-90.
$
$
Gross earnings................... 3,197,808 3,403,296 3,477,989 3,685,769
Net earnings...................... 1,298,602 1,180,666 1,200,110 1,281,639
Deduct— ■
Interest, less.int. received. 203,195
151,758
341,628
464,567
Rentals............................... 412,372
385,093
254,024
172,645
INCOME ACCOUNT.
Dividends............................ 400,000
400,000
440,000
480,000
jii
1888-89.
1889-90.
Miscellaneous1
.................
48,198
63,067
...................
Gross receipts............................................... $16,649,056
$17,432,007
Operating expenses....................................... 11.393.475
11,951,771
Total disbursements... 1,063,765 999,918 1,035,652 1,117,212
Total net income..................................... $5,255,581
180,748
164,468
164,427
$5,480,235 Surplus............................. . 234,837
Disbursements—
—(V. 50, p. 314, 707, 834; V. 51, p. 416, 5 3 6 , 715, 753; V. 52, p. 280,
Interest on debt............................................ $2,168,571
$2,651,120 571, 608, 707, 718.)
945,768
General expenses, including ta x e s ............
694,258
L ou isian a W e ste rn .—(See Map o f Southern Pacific.)—Owns from
Dividends.........................
2,018,202
2,027,370
Lafayette, La., to Orange, Texas, 112 miles. Operated under lease by
Total disbursements............................... $5,132,541
$5,372,748 the Southern Pacific Company, being part of the through line between
New Orleans and Houston. The lessee pays all charges and turns over
Balance, surplus..................... .-v............. .
$123,040
$107,487 to this company 7 per cent of the total net profits of the Southern
—(V. 49, p. 52, 373, 539; V. 50, p. 1 3 7 , 423, 706, 904; V. 51, p. 20,51, Pacific Company, under the omnibus lease.
114, 614, 680; V. 52, p. 1 6 2 , 463, 761.)
From January 1 to March 31, 1890 (3 months), gross earnings were
Litchfield. C arrollton & W e ste rn .—Owns from Barnett to Co­ $226,791, against $261,789 in 1890; net, $65,862, against $135,609.
lumbiana, 111., 52 miles. Operated in close connection with the Chicago In 1890, gross, $1,160,331; net, $586,094; surplus over charges, $434,Peoria & St. Louis—which see. Stock, $600,000.
558; amount of net profit due this company as per lease, $172,199. In
L ittle M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84 1889, gross, $1,101,569; net, $486,981. Stock is $3,360,000 (par $100),
miles ; branch, Xenia, O., to Dayton, O., 16 miles ; leases, Columbus & all but $50,000 of which is owned by Southern Pacific Co.
Xenia RR., Xenia, O., to Columbus, Ohio, 55 miles ; Dayton & Western
L o u isv ille E v an sv ille & St. L o u is Consolidated.—fSee Map
RR., Dayton, O., to Indiana State Line, 38 miles ; Ohio State Line to o f Evansville < Terre Haute Railroad.)—Operates from Louisville, Ky.,
&
Richmond, Ind., 4 miles ; Cincinnati Street Connecting RR., 2 miles ; to East St. Louis, 111., 274 miles, with branches to Evansville, Rocktotal operated, 198 miles.
port, Cannelton, etc., in Indiana, 93 m iles; total, 367 miles. Also owns
On December 1, 1869, the Little Miami, with all its branches, &c., Venice & Carondelet Railway, leased to East St. Louis Connecting Rail­
was leased to the Pittsburg Cincinnati & St. Louis RR. Co. for 99 years, way, 6 miles. Of the main line the following portions are operated




INVESTORS’
SUPPLEMENT.
¡t o l .
l ii.




M a y , 1891.,




RAIf.ftOAP

STOCKS

A N II

BONDS.

7 5

76

HTVESTOBS*

SUPPLEMENT.

V ol.

L1I.

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f a n y error discovered In tbese T a bles.
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by
For explanation of column headings, &c., see notes of
Par
of
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Louisville < Nashville—(Continued.)—
&
Cecilian Br.1stM.,Cecil.to Louis.,s.f.,dr’n at 100.c*
46
E. H. & N.lstM.,Henderson to Nash., dr’n at 110.c* 135
Louis. & Nash, general M., gold, drawn at 110.o* 802
10-40 Adjustment M.,g. (red’mable aft. 1894).c* 785
L. C. &Lex. 1st M.,s.f. (not dr’n) Louis, to Newp’t.c* 175
2d mortgage, sinking fund, not drawn............c* 175
Bonds sec’d by pledge of 2d m. S.& N. Ala. ER.c* 189
Pensacola Division 1st mort., g. (drawn at 105) c*
45
N. O. & Mobile Div. 1st M., N. O. to Mobile, g. .c* 1#1
2d M., N. O. to Mobile, g ....................................c* 551
Southeast & St. L. Div. 1st Mort., g .................. .c*
208
2dM., g., East St. L. to Evansville & b r........ c* 208
Gen. mort. L. C. & L., g o ld ..................... ............c* 175
1st M. (50-year 5s), g., on br’ches, $15,000 p.m.o* 118
1st mortgage, collat. trust ($7,000,000), gold .. .c*
Unified mortgage for $75,000,000, gold........ c*&r 1,079
Henderson Br. Co. IstM ., g., s. f., dr’n at 105.c*
Louisville New Albany < Chicago—Stock............. .
£
IstM . Lou. Div.—New Albany to Mich. City... c* 288
1st M., gold, Chic. & Ind’polis Div.,Chic, to Ind.c* 158
Consolidated mortgage gold (for $10,000,000) .c* 512
General mortgage, gold, $25,000 p. m ................c* 512
Louisv. N. O. < Tex.—1st M., g., for $16,900,000...c 797
£
2d mort. income bonds, cum. (payable at 105) .o’" 797
797
Income bonds (not cumulative)............................
121
Louisville St. Louis < Texas—1st M.,g.,$2,800,000.0
£
121
2d mortgage................................. .......................
42
Louisville Hardinsburg & Western 1st mortgage

1877 $1,000
$825,000
1,000
1879
2,240,000
1880
1,000 11,736,000
1884
1,000
4,531,000
1,000
1867
2,850,000
1877 100 &c.
892,000
1,000
1880
1,960,000
1,000
1880
580,000
1880
1,000
5,000,000
1880
1,000
1,000,000
1,000
1881
3,500,000
1,000
1881
3,000,000
1,000
1881
50,000
1,000
1887
1,764,000
1,000
1888
4,920,000
1890 l,000&c
7,014,000
1,000
1881
1,866,000
100
6,400,000
1880
1,000
3,000,000
1,000
1881
2,300,000
1,000
1886
4,700,000
1890
1,000
2,800,000
1886
1,000 16,132,000
1886
1,000
8,851,000
1886
1,000 10,000,000
1887
1,000
2,440,000
1,000
1887
250,000
1,000
1889
630,000

under trackage rights: Louisville to New Albany, 6 miles; Walnut Hill
to Centralia, 7*2 miles. The line from Belleville to Centralia, 111., was
completed in June, 1890.
This company is a consolidation made in 1889 of the Louisville
Evansville & St. Louis and several other companies. It belongs to the
“ Mackey” system. See application to New York Stock Exchange in
full in Chronicle, Y. 50, p. 876.
Under the consolidated mortgage (New York Security & Trust Com­
pany and Josephus Collett, trustees), $3,700,000 bonds are reserved to
retire at maturity the several issues of prior first mortgage bonds, and
$500,000 to retire at 75 the $670,000 unassented second mortgage
bonds. (See abstract of consolidated mortgage in Y. 49, p. 208.) The
second mortgage bonds were to bear 2 per cent interest in 1888 and
1889, 3 per cent in 1890, 4 per cent in 1891, 5 per cent in 1892 and 6
per cent thereafter. Common stock, $3,790,747; preferred, $1,300,000,
5 per cent, non-cumulative; par, $100. Fiscal year ends June 30.
Report for 1889-90 was in V. 51, p. 679. In 1889-90 gross earnings
were $1,169,412); net, $416,318; surplus, (including other income,
$34,635) over interest and rentals, $103,611. In 1889-89 gross, $1,127,039; net, $330,591.—(V. 50, p. 107, 834, 874, 876; V. 51, p. 679.)
L o u isv ille Sc N ash ville.—(£ee Map.)—Line op R oad .—Main line
—Cincinnati, O., to New Orleans, La., 921 miles; St. Louis to Junction
near Nashville, 308; Memphis to Memphis Junction, 259 (to Cincinnati,
487); branches, 728; total mileage on which earnings were based June
30,1890, 2,216 miles.
(Of the above mileage 1,885 miles are owned absolutely and through
stock, while the Nashville & Decatur RR. (Nashville to Decatur, 119
m iles; other lines, 24 miles; total, 142 miles), is leased, and the South
6 North Alabama RR. (Decatur to Montgomery, 183 miles, and branch,
6 miles), is operated for account of that company).
Also operates under lease for account of various companies 88
miles; and owns the Richmond Branch (leased to Kentucky Central) 34
miles, and the Cecilian Branch (leased to Chesapeake Ohio &
Southwestern), 46 miles. Controls, by ownership of a majority of
stock, the Nashville Chattanooga & St. Louis RR., 652 miles; the
Owensboro & Nashville, 89 m iles; the Pensacola & Atlantic, 160 m iles;
the Nashville Florence & Sheffield RR., 91 miles; and Henderson
Bridge and connecting track, 10 miles—total, 1,170 miles; also, as joint
lessees with the Central of Georgia, is interested in the Georgia RR. and
its auxiliaries, 721 miles. Grand total of roads owned leased and con­
trolled by ownership of stock June 30,1890, was 4,107 miles.
A line connecting with the Clinch Valley Division of Norfolk & West­
ern was completed in May, 1891. In June, 1890, the Nashville
Chattanooga & St. Louis leased the Western & Atlantic (Atlanta to Chat­
tanooga, 138 miles) for 29 years from December 27. The Alabama
Mineral RR., 129 miles, was taken into the system January 1,1891.
See V. 51, p. 460. In December, 1890, the stock of the Kentucky Cen­
tral was acquired, control being assumed February 1,1891. See that
.company and V. 51, p. 876.
Oroanization , L eases, &c.—The Louisville & Nashville was char­
tered March 2,1850, and opened between Louisville and Nashville
November, 1859. The liabilities for interest on the auxiliary roads are
treated mostly as belonging directly to the Louisville & Nashville Co.
The fiscal year ends June 30. Annual election is held early in October.
Stock and B onds.—In 1889-90 the stock was increased $13,000,000
for the purpose of retiring the 6 per cent collateral trust bonds of 1882.
This reduced the annual interest charge by $600,000, and the sinking
fund charge by $100,000, in all $700,000.
Dividends since 1880.—In 1880, 8, and 100 per cent in stock; in
1881,6; in 1882, 3 ; in 1888 and 1889, 5 in stock; in 1890, February
6, 3 in stock; August 4, 3 per cent, of which l»io in stock; in 1891, Feb­
ruary 5, 2 Li in cash.
Price of stock—In 1880, 77®174; in 1881, 79®2101 in 1882,46%®
2;
100%; in 1883, 405s® 58% ; in 1884, 22%®513s; in 1885, 22®51%; in
1886, 3358®69; in 1887, 54%®70%; in 1888, 5 0 ^ 6 4 % ; in 1889, 56%
®87%; in 1890, 65%®92%;• in 1891, to May 22 inclusive, 7138®823s.
Besides the bonds in the table the Louisville & Nashville is responsi­
ble for $2,100,000 bonds and dividends on $2,100,000 stock of Nashville
& Decatur (which see); for $9,858,920 bonds South & North Alabama
(see that company) for $286,000 bonds of Louisville Transfer Co.; for
$2,000,000 Pensacola & Atlantic bonds and for $1,920,000 Nashville
Florence & Sheffield bonds.
The general mortgage bonds of 1880 are subject to a drawing sinking
fund o f 111 per cent of all bonds issued, plus the interest that would
o
have accrued on all the bonds so drawn—about $190,178 in all in
1890-91.
The 10-40 adjustment mortgage of 1884 (trustee, Central Trust Co.)
besides 783 miles of road covers $28,162,700 of stocks and bonds. See
V. 39, p. 409, and V. 51, p. 463.
The Evansville Henderson & Nashville bonds are drawn at 110 by lot
annually, in September; $30,000 a year till 1895, then increasing each
five years until $150,000 per year is finally reached.
The Pensacola Division bonds are subject to a drawing sinking fund
$5,000 till 1900, inclusive, then $10,000, and so increasing.
In June, 1890, the “ unified” mortgage (trustee, Central Trust Com­
pany) for $75,000,000 was authorized, $41,917,660 bonds being re­
served to retire 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 equipment), and for other purposes. The mortgage cov­
ers (besides 1,080 miles of road and its equipment) $16,209,700 stock




7
6
6
6
7
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6
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s.
D.
g. J.
g. J. & D.
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g- M.
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A. & O.
g. A. & O.
g. M. & s.
g. J. & J.
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M. S, N.
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gr
g. M. S, N.
g. M. & N.
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g. J.
g. M. & S.

6
6
6
5
4
5
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6

J.
F.
A.
M.
M.
M.
M.
g. F.
M.
J.
g.
g.
gg.

&
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&

N. Y. 20 William St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
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J. N. Y.. Chase Nat. Bank.
do
A.
do
do
do
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do
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do
S. N. Y., R. T. Wilson & Co.
s. N. Y.. when earned.
do
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s. N. Y., Company’s office.
do
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J.

Stocks—Last
Dividend.

Mch.
Deo.
June
Nov.
Jan.
Oct.
Apr.
Mch.
Jan.
Jan.
Mch.
Mch.
Nov.
May
Nov.
July
Sept.

1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,

1907
1919
1930
1924
1897
1907
1910
1920
1930
1930
1921
1980
1931
1937
1931
1940
1931

July 1, 1910
Aug. 1, 1911
Apr. 1, 1916
May 1, 1940
Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934
Feb. 1, 1917
March, 1917
Jan. 1, 1919

of companies controlled, which is subject only to the 10-40 adjustment
mortgage, and $6,498,400 stock and $1,100,000 bonds free from any
lien. See abstract of mortgage in V. 51, p. 613.
The Henderson Bridge Co. bonds are not a liability of the Louisville
& Nashville. The bridge is owned by a separate company, with a stock
of $1,000,000 (par, $100), of which the Louisville & Nashville Co. holds
$501,000; the Bridge Co. is guaranteed gross receipts of $200,000 per
year by the several roads using it, and dividends of 2% per cent is paid
each February and August.
O p e r a t i o n s , F i n a n c e s , &c.—The Louisville & Nashville system has
been developed in its present extensive form since 1879; the 100 per
cent stock dividend was declared in 1880 and a few dividends after­
wards in cash, but from 1882 to 1888 nothing was paid. From Febru­
ary, 1888, to 1890 stock dividends were paid to represent surplus earn­
ings. The August, 1890, dividend was paid partly in cash. See divi­
dends in preceding column.
From July 1,1890, to March. 31, 1891 (9 months), gross earnings
were $14,706,710, against $14,305,507 in 1889-90; net, $5,534,514,
against $5,799,691; mileage, 2,344, against 2,196 miles.
From July 1 to December 31,1890 (6 months), surplus (including
other income) over charges was $1,586,524, against $1,671,179 in 1889;
balance after dividends ($1,200,000 in 1890, $993,384 in 1889)
$386,524, against $677,795.
Fiscal year ends June 30. For 1889-90 the report was in V. 51,
pp. 439, 455, 459.
EARNINGS, EXPENSES, ETC.

1886-87.
1887-88.
1888-88.
1889-90.
2,022
2,119
2,181
2,216
Mileage June 30...............
Earnings—
$
$
$
$
Freight...........................10,254,483 11,081,650 11,325,235 12,845,951
Passenger......................... 3,859,525 4,224,413 4,036,362 4,704,769
Mail, express, etc..........
966,577 1,054,178 1,237,799 1,295,284
Total gross earningsl5,080,585 16,360,241 16,599,396 18,846,004
Oper. exp. (excl. taxes). 9,047,053 10,267,535 10,326,085 11,419,092
Net earnings........... 6,033,532
59-99
Per ct. of exp. to earni’gs

6,092,706
62-76

6,273,311
62-21

7,426,912
60-59

INCOME ACCOUNT.

1889-90.
1888-9.
1886-7.
1887-8.
Receipts—
$
$
$
$
Net earn’gs incl. invs’ts. 6,513,390 6,621,534 6,950,420 8,065,598
Disbursements—
397,721
401,112
375,557
365,317
Taxes...............................
Interest on debt, &c___ 4,260,542 4,394,803 4,605,493 4,524,694
23,376
90,339
3,453
55,470
Georgia RR. deficit.......
199,425
186,203
238,943
Pens. & Atl. RR. deficit.
tl, 518,000 t l ,594,800 12,405,367
Dividends........................
Total disbursements___ 4,681,338
Balance, surplus*.......... 1,832,052

6,530,756
90,778

6,824,206
126,214

7,604,324
461,275

* To be deducted from surplus in 1886-7, $100,591. To be added to
surplus for amounts to be refunded, in 1887-88, $218,869; in 1888-89,
$424,961; in 1889-90, $125,800.
t Stock dividends 5 per cent,
t 4-90 per cent stock and 1T0 cash.
—(V. 50, p. 71,139,174, 205, 245, 275, 351, 390, 423, 874; V. 51, p. 21,
84, 43 9 , 45 5 , 4 5 9 ,494,569, 613,876; Y. 52, p. 81,279,427,497,498.)
L o u is v ille N e w A lb a n y & C h ica g o .-(-S e e Map)—Owns from
New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
m ile; Indiana State line to Massachusetts Avenue, Indianapolis, 162
miles; proprietary lines—Bedford & Bloomfield RR., Bedford, Ind., to
Switz City, 43 miles; Orleans West Baden & French Lick Springs Ey.,
Orleans, Ind., to French Lick Springs, 18 miles; total owned, 512 miles.
Operates under contract—Chicago to State line, 20 miles; New Albany
to Louisville, 3 miles; in Indianapolis, to depot, 2 miles; total operated,
537 miles. A lease for 999 years with Chicago & Western Indiana (of
which stock this company owns one-fifth) at $127,000 per year gives
entrance to Chicago.
The Louisville New Albany & Chicago was opened in 1852 and sold in
foreclosure December 27,1872, and reorganized. In August, 1881, con­
solidated with Chicago & Indiana Air Line. The Bedford & Bloomfield
RR. and the Orleans West Baden & French Lick Springs Ry. have no
debt, and their entire capital stock is deposited as security for the
Louisville New Albany & Chicago consolidated mortgage.
In October, 1890, stockholders voted to extend the road 30 miles to
the Brazil coal fields in Cook and Clay counties, Ind., to extend the French
Lick Springs road to Evansville and to acquire terminal property in
Indianapolis. See V. 51, p. 609, 787. The construction of the 30-mile
branch to the Brazil coal fields has been undertaken under the title of
the Fort Wayne Terre Haute & Southwestern Railway Company.
In April, 1891, a syndicate composed of Calvin S. Brice, Samuel
Thomas, John Greenough, and others, agreed to advance $1,960,000 to
take up the floating debt, etc., receiving in return $2,800,000 general
mortgage bonds, and $1,400,000 of new stock, for which bonds and
stock the stockholders were then given the privilege of subscribing.
Upon the conclusion of this arrangement Gen. Thomas became Presi­
dent and all litigation was discontinued. See V. 52, p. 534, 571, 608.




1 8




INVESTORS’

SUPPLEMENT

[V o l . t i l .

M a y , lb91.j

K A1LK 0AD

S T O C K S A N D BONDS.

79

Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tliese T a bles.
Bonds—
Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
When
Par
of
For explanation of column Leadings, &e., see notes of
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Dividend.
Cent.
Whom.
Road. Bonds Value.
on first page of tables.
Louisville South.—1st M. for $5,000,000, g., guar.c* 126 1890 $500&c. $4,175,000
600,000
20
21
Lykens Talley—St’k,10p.c.rental, 999 yrs. Nor.Cent.
2,012,000
1,000
Lynchburg < Durham—1st M. $20,000 p. m., g . . .c* 114 1890
&
1890
1,000
(?)
Macon < Atlantic—1st mortgage, gold.....................
6
1,900,000
1,000
95 1890
Macon < Birmingham—1st M. for $20,000 per mile
6
3,603,500
100
Maine Central—Stock......................................... : ----642,200
55 1860-1 100 &c.
Andros. &Ken. RR. 1st mortgage.......................c
1,166,700
71 1865 100 &c.
Port. & Kennebec con. M., Port, to Aug. &brch..o
421,500
30 1866 100 &c.
Androscoggin RR., Bath City loan........................ c
756,800
Me. C. loan for $1,100,000, Danv. Jc. to Bangor.c 109 1868 100 &c.
496,500
18 1870 500 &c.
Extension 1st M., Cumberland June, to Dan. .e
633,000
36 1871 100 &c.
Leeds & Farm. RR. 1st M., Leeds to Farming
4,176,700
1872 100
1st M., cons., A. B. C. D. ($269,000 5s). ..
£ 304 1872 100 &c.
469,000
&c.
Do
Class B ..............................................
687,000
Collateral trust bonds for Mt. Desert Branch, .c 5 41 1883
600,000
1,000
1885
Sinking fd. 10-20s g., red. on or aft. Feb. l , ’95.c
450,000
1886-7
Improvement bonds, “ A ” and “ B.” ........
1,000,000
56 1869 500 &c.
800,000
60 1870 500 &c.
1,008,000
1,000
108 1888
800,000
53 1890
Hereford R ’y 1st mortgage, guar.....................
1890 500 &C.
(?)
Upper Coos RR. 1st mort. for $350,000, guar
33 1890
(?)
Extension mortgage, $21,000 per m ile.......
1,000,000
100
26
Manches. &Law.—Stock,10 p.c.ren’l till 1937,B.&M.
100 25,891,980
32
Manhattan Elevated'.—Consolidated stock..............
1,905,035
Dividend bond certificates. (See remarks)........ :
1,000 10,818,000
18 1878
Metropol. El. 1st mort., $600,000 p. m., $ & £.C
4,000,000
1,000
18 1879
2d mortgage (guaranteed by Manhattan).......c
8,500,000
1,000
14 1876

5 g2^2
5 g.
5 g.
5 g3
6
6
6
7
6 g6
5&7
41
«
5
6 g.
4^2
6
6 g5
4
4
41a
5
1*2
4
6 g6
7

J. & J. Louisville, Ky., Office.
Q .-J . N. Y., Office, 13 Wm. St.
J. & J.
New York.
M. & N. Nov.,’90, coup, last paid
M. & N.
F. & A. Portand, Me., Office.
M’nthly Bost., 2d Nat.Bk.& Port.
A. & O.
do
do
do
do
Q .-J .
J. & J.
do
do
A. & 0.
do
do
do
do
J. & J.
A. & O.
do
do
do
do
A. & O.
do
do
J. & D.
do
do
F. & A.
do
do
J. & J.
J. & J. Boston, Merch. Nat. Bk.
J. & J. Bost., 2dNat.Bk.&Port.
do
do
M. & N.
M. & N. Boston, Mass. Nat. Bk.
M. & N.
M. & N.
M. & N. Manchester and Boston.
N. Y., 71 Broadway,
Q .-J .
do
do
A. & 0.
J. & J. N. Y., Mercantile Tr. Co.
do
do
M. & N.
do
do
J. & J.

July 1, 194»
Apr. 1, 1891
1940
1940
1940
Feb. 14, 1891
Various, 1891
Apr. 1, 1895
Various, 1893.
July 1, 1898
Oct. 1, 1908
July 1, 1898
Apr. 1, 1918
Apr. 1, 1918
June 1, 1928
Feb. 1, 1905
July, ’ 16 &’ l ?
Jan. 1, 1894
July 1, 1900
Nov. 1, 1908
May 1, 1930
May 1, 1930
May 1, 1930
May 2, 1891
Apr. 1, 1891
At Co.’s option
July 1, 1908
Nov. 1, 1899
Jan. 1, 1908

ment to New York Stock Exchange, Chronicle, V. 49, p. 146 ; also ab­
stract of mortgage and lease, V. 49, p. 342 and 343.
From March 1 to December 31, 1889 (10 months), gross earn«
ings (as reported by Louisville New Albany & Chicago) were
$320,971 ; net, $144,286 ; rental Kentucky & Indiana Bridge, $133,333;
surplus, $10,952. (V. 49, p. 146, 269, 342, 471, 540; V, 50, p. 662, 834,
904; V. 51, p. 51, 276, 303, 457, 612; V. 52, p. 81.)
L yken s V a lley.—Owns from Millersburg, Pa., to Williamstown, Pa.,
20 miles ; branch, 1 mile ; total operated, 21 miles. It is a coal road,
INCOME ACCOUNT.
leased and operated by the Northern Central Railroad since July, 1880,
1887.
1888.
1889.
1890.
and previously by the Summit Branch Railroad. The lease is for 999
$
$
$
$
years from March 1,1866, and the rental is $62,500 per annum.
Gross earnings.................... 2,295,623 2,292,782 2,495,823 2,630,132
From January 1 to April 30, in 1891 (4 months), gross earnings from
Net earnings........ .............. 805,925
868,105
957,186 999,253 coal and mining operations were $289,850, against $260,917 in 1890;
_ ____ deficit, $3,118, against deficit, $14,443. In 1890 gross, $956,826; net,
_
Deduct—
i § •
Interest on bonds...............> 549,814
581,775
573,965
651,781 $11,264, against deficit of $20,773 in 1889.
282,458
276,345 212,373
Rentals, taxes, &C .............. 228,641
L y n c h b u r g Ac D u r h a m .—Completed in 1890 from Lynchburg,
Car trust interest...............
25,000
............
................................ Va., to Durham, N. C., 114 miles; projected to a connection with
Raleigh & Augusta Railroad, 25 miles from Durham. Mortgage is for
Total charges...............
803,455
864,233
850,310
864,144 $3,000,000; trustee, Mercantile Trust Company. Stock authorized,
Balance............................. sur. 2,469 sur. 3,872 sr. 106,876 sr.135,109 $2,000,000; outstanding, $1,876,500 (par, $100), of which city of Lynch­
Samuel Thomas, President, New York. (V. 50, p. 391, 451, 484, burg took $250,000, and Halifax, Campbell and Durham counties,
519, 5 8 8 , 590, 770; V. 51, p. 21, 206, 276, 416, 608, 787; V. 52, p. 81, $310,000. President, Peter J. Otey, Lynchburg, Va. (V. 49, p. 52 ; V.
51, p. 84.)
321, 390, 4 2 5 , 427, 463, 534, 571, 574, 608, 643.)
M a c o n Ac A t l a n t i c .—(See Macon té Birmingham)
L o u is v ille N e w O rle a n s Ac T e x a s .—(See M ap.)—Mam. line,
Memphis, Tenn., to New Orleans, La., 456 miles; Riverside Division,
M a c o n & B i r m i n g h a m .—(See Map o f Georgia Southern < Florida#
&
Coahoma, Miss., to Riverside Junction, 151 m iles; other branches, 50 —Projected from Macon, Ga., to Birmingham. Ala.. 230 miles, and
miles; Natchez to Jackson, Miss., 100 miles; Clarksdale to Minter City, completed from Macon Junction to La Grange, 95 miles. Was being
40 miles; total, 797 miles. For road under construction see V. 51, p. 21. built by the Macon Construction Company, which went into receiver’s
i This road was built in the interest of the Huntington system of roads, hands in March, 1891. See Georgia Southern & Florida. The Macon &
and forms the connecting link in that system across the Continent from Atlantic was projected by same parties from Macon to the coast at Col­
Norfolk to San Francisco. The income bonds are a first mortgage on leton on Port Royal Sound. See V. 51, p. 538j
750,000 acres of land in the Yazoo Delta. The second mortgage bonds M aine C entral.—Line of road, Portland to Vanceboro, Me., via
are “ incomes,” receiving interest only when earned; but no interest Augusta, 251 miles; branches, Cumberland Junction to Skowhegan,
was payable till March 1, 1889; unpaid interest is cumulative, and
bears interest (if earned) at the rate of 5 per cen t; these bonds may be 91 miles; Bath to Lewiston and Farmington, 76 miles; branches—
Ferry, 132
paid off at 105. The Union Trust Co., of New York, is trustee of the Belfast, Dexter, Bucksport and Mt. DesertLunenberg, miles; Portland &
Ogdensburg Railroad, Portland, Me., to
109 miles; small
first and second mortgages. Capital stock, $5,000,000; par, $100.
branches, 6 miles; Upper Coos and Hereford railways, Lunenberg, N. H*
From January 1 to March 31,1891 (3 months), gross earnings were to Lime Ridge, Quebec, 108 miles—
steam ferry, 7 miles; total, 77-S
$981,130, against $828,698 in 1890; net, $251,189, against $187,864;
miles'
„
mileage operated in 1891, 800 miles; in 1890, 668 miles.
Of the stock $1,811,500 is owned by Boston & Maine. The Hereford
Earnings have been as follows:
and Upper Coos railways are leased for 999 years and their bonds gua**1888.
1889.
1890.
anteed. The Coos division was opened in May, 1891.
■
515
657
792
Miles operated December 31.......
In August, 1888, leased Portland & Ogdensburg for 999 years anfi.
$
$
guaranteed its bonds ; rental 1 per cent on s+ock for first three yean»
Gross earnings............................... 2,434,334
3,031,115 3,236,566 and 2 per cent thereafter.
Net earnings..................................
652,442
1,040,657
834,138
There are also $58,000 5 per cent debenture bonds, due February,
1894, $42,000 Shore Line 6 per cents, due 1923, and $175,000 Dexter
Deduct—
Rentals............................................
7,137
4,387
1,637 & Piscataquis 4s, due July 1,1929.
.
i
■
Interest on bonds..........................
445,600
500,980
589,520
Dividends since 1876 have been : In 1882, 2 per cent ; in 1883, 5 1
«-;
Taxes..............................................
64,684
67,504
91,883 from 1884 to date at the rate of 6 per cent yearly.
Miscellaneous................................
33,937
29,767
29,650
Fiscal year ends Sept 30. Report for 1889-90 was in V. 51, p. 874.
1886-87.
1887-88.
1888-89.
1889-90.
Total........ ................. - ............
551,358
602,638
712,690 Miles operated....................
535
627
647
741
^
^
Balance, surplus................ - .........
101,084
*438,019
121,447
Total gross earnings............3,142,407 3,389,007 3,828,162 4,226,465
* Other sources of income w ere: Sale of Bolivar County bonds, $105,- Total net income.......... ....1,202,797 1,199,044 1,332,039 1,411,568
Disbursements—
_______
000; from operations of roads pending purchase, $72,004—making sur­
Rentals paid.......................... 189,000
192,573
233,427
284,655
plus for year, $615,024.
734,031
798,391
821,165
R. T. Wilson, President, New York. (V. 48, p. 854; V. 49, p. 2 3 4 ,4 7 1 ; Interest on bonds................ 717,068
Dividends............................. 215,598
215,604
215,616
215,616
V. 50, p. 205, 312, 377, 588; V. 51, p. 21; V. 52, p. 427, 428.)
L o u is v ille St. L o u is Ac T e x a s .—(See Map.)—Louisville to Hen­
Total disbursements.........1,121,666 1,142,208 1,247,434 1,321,436
derson, Ky., 142 miles, of which it owns Henderson to West Point, 121
81,131
56,836
84,605
90,12?
miles (completed April, 1889), and uses by contract with Chesapeake & Balance, surplus................
_
*
Ohio Southwestern West Point to Louisville, Ky., 20 miles; owns also - (V. 49, p. 823 ; V. 50, p. 735 ; V. 51, p. 874.)
M anchester Ac L aw ren ce.—Owns from Manchester, N. H.,_ to
branch 1 mile and leases in perpetuity for net earnings the Louisville
Hardinsburg & Western Railroad, Irvington to Fordsville, Ky., 44 miles; Methuen (State Line), 22H miles; leases Methuen Branch, 3% miles;
total operated, 166 miles. The first mortgage bonds are for $2,800,000, total operated, 26 miles. Road in operation since 1849.
Leased for 50 years from September 1,1887, to Boston & Marne at ft
of which $360,000 are held in trust for extending road to Louisville, if
at anytim e deemed advisable. Trustee of mortgage, Central Trust rental paying 10 per cent dividends, at which rate dividends had been
Company. January 1,1890, there were outstanding $300,476 equip­ paid for many years. Suit has been instituted to recover $1,000,000,
said to be due from Concord Railroad.
ment notes. Stock, $2,420,000; par, $100.
From January 1 to March 31,1891 (3 months), gross earnings were
M a n h atta n E levated.—Road operated, 32-39 miles. This corpor­
$94,195, against $79,668 in 1890; net, $39,705, against $32,063. In ation was formed November 24,1875, to lease and operate the twe
year 1890 gross earnings were $396,023; operating expenses, $224,574; elevated railroads in New York City. The original lease of May 20,
net $171 449.
1879, guaranteed 10 per cent per annum on the stocks. In June, 1884,
W. V. McCracken & Co., 42 Wall Street, New York, Financial Agents. all liabilities were assumed and new stock was issued by the Manhat­
See full statement to New York Stock Exchange in Chronicle, V. 49, tan Company, viz.: For Manhattan, 85 per cent in new stock; for New
p. 146; (V. 49, p. 146, 434; V. 51, p. 416, 715; V. 52, p. 498.)
New York, 120 per cent; for Metropolitan, 110 per cent, making the
L o u is v ille S o u t k e r n .—Owns from Louisville, Ky., southwesterly whole stock $26,000,000. On May 27,1891, stockholders met to com
to Burgin on Cincinnati Southern Railroad, 83 miles, with branches to sider a proposition to issue $4,000,000 stock for the acquisition of the
Lexington and Georgetown, 43 miles; total, 126 miles. Lease to Louis­ railroad and other property of the Suburban Rapid Transit Railroad
ville New Albany & Chicago was terminated in March, 1890. (See V. Company. See V. 52, p. 642.
There are considerable claims pending against the elevated roads for
50 p 834.) The New Albany Company claims damages for the break­
ing of the lease. See V. 52, p. 81. In July, 1890, leased for 99 years to damage to property on their lines, and many of these are before the
the East Tennessee Virginia & Georgia, which guarantees principal and courts. See V. 51, p. 494. The consolidated mortgage (trustee, Central
interest of the new 50-year 5 per cent bonds. All net earnings after pay­ Trust Co.) was authorized in February. 1890. It is limited on present
ment of fixed charges are to be equally divided between the lessor and the mileage to $40,000,000, and will provide for prior bonds when due, for
lessee See V. 51, p. 51, 612. Stock, $3,500,000; par, $100. See state­ floating debt, &c. Further amounts may be issued for extensons if deThe general mortgage of 1890 is for $25,000 per mile of road now
owned or hereafter acquired, but of this amount $10,000,000 bonds are
reserved to retire the lsts as they mature. Trustee Central Trust Co.
During the year 1890 the company spent on improvements $1,077,554.
From January 1 to March 31,1891 (3 months), gross earnings on 537
miles were 600,818, against 534,734 in 1890; net, $105,656, against
$98,368.
Fiscal year ends December 31. Advance statement for 1890 was m
V. 52, p. 425, as follows:




80




HSYESTOKS’

SUPPLEMENT.

[VOL. I l l ,

M , 1891.] I
ay
RAILROAD
STOCKS AND
BONDS.




IE YES,TORS’

8 2

SUPPLEMENT,

[Y ol. l i i ,

Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o f a n y error discovered In these T ables.
Bonds—Prinoi RAILROADS.
INTEREST OR DIVIDENDS. Miles Date Size, or
pal,When Due.
Amount Rate per When
of
Par
For explanation of column headings, &c., see notes of
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.

Manhattan Elevated—( Concluded.)—
N. Y. El. deb., secured by consol, mort. of 1890..
Consolidated mortgage, gold................................c*
Maricopa < Phoenix—1st mortgage, gold.................
6
Marietta < North Georgia—1st M., gold, $7,000 p.m.
6
Con. lst.M.,g.,$4,500,000,s.f .$15,000 after 1897 c*
Marquette Houghton < Ohton.—See Dul. S. S. & Atl.
6
Maryland Centrals— M., int. 4 p. c. till Jan. 1899
1st
Mem. < Charleston^-Tenn. State loan for $1,736,906
£
1st mortgage, extended............................................
2d mortgage, extended...........................................c
Consol., gold ($1,400,000 1st on93m . inTenn.)c*
General mortgage, gold......................................c*r
Mexican Central—1st mortgage (unassented)..........
Consol, mortgage, gold, $32,000 per mile_ c*&r
_
1st consol, incomes,gold, non-cum.($9,600p.m.)c*
2d con.inc.$6,400p.m.red.at 50p.c.till Aug.l929c*
Registered income bonds, unassented................ r
Mexican National—IstM., g.,subsidy, dr’n at 100.c*
2dM.,ser.“ A,” g., inc. accum. (for $16,675,000)c*
2d M.,ser.“ B,” g., inc. non-ac. (for $16,675,000).r
3d mortgage, deb. (income not cumulative) gold.r
Texas-Mexican 2d mort. gold ($15,000 per mile) c*

32
32
35

1886
1890
1886
1881
1887

44
94

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

1889

292
292
1,663
1.663
1.663
1,064
1.064
1.064
162

1854
l'ò o o
1,000
1867
1,000
1877
1884
1,000
1,000
1881
1,000
1889
1,000
1889
1889
1,000
1,000
1881
1887
1,000
1887 500 &c.
1887 500 Ac.
1887
1,000
1,000
1881

sired at the rate of $300,000 per mile of single and $600,000 per mile o
double track. iSee abstract of mortgage in Y. 51, p. 248, and applica­
tion to New York Stock Exchange in full in V. 52, y. 353.) The scrip
Issued for dividends is convertible into new 100-year 4 per cent consols
and is redeemable at option of company. Cash dividends were resumed
in April, 1890, after four dividends of 1% per cent each had been paid
&lscrip.
Dividends in 1884, 3 per cen t; in 1885 to 1887, inclusive, 6; in 1888,
9 i in 1889,1 in cash and 4 -* in scrip; in 1890, Jan. 2,1*2 scrip: April
2
5,1% cash; July 1, 1%; Oct. 1, 1%; in 1891, Jan. 2,1*$; April 1, 1%.
Prices of stock—In 1884, 64%®79; in 1885, 65®123%; in 1886,102®
175; in 1887, 92%®161'%; in 1888, 7734®983s; in 1889, 90® 109%; in
1890, 92®117; in 1891, to May 22, inclusive, 96%®109From July 1,1890, to March 31, 1890, gross earnings were $7,301,44=7, against $6,845,468 in 1889-90; net, $3,613,974, against $3,193,190; surplus over charges, $1,904,539, against $1,773,474.
Fiscal year changed to end June 30. Preliminary statement for
1889-90 was in V. 51, p. 414. In the following the figures for 1889-90
are for year ending June 30—all others for year ending September 30:
1886-87.
1887-88.
1888-89. 1889-90.
$
$
$
$
Gross earnings..................... 8,102,662 8,673,871 9,080,881 *9,388,681
Net earnings....................... 3,132,212 3,472,821 3,658,487 4,081,552
Interest and rentals........... 1,554,080 1,554,080 1,554,080 1,597,880
Pividends............................. 1,560,000 1,300,000 t l ,430,007 11,560,000

$1,000,000
9,300,000
540,000
554,000
3,281,000

5
4
6
6
6

850,000
In trust.
1,260,000
i,ooo;ooo
2,264,000
1,000,000
971,000
52,871,000
15,861,000
10,587,000
649,000
12,500,000
12,265,000
12,265,000
7,040,000
184,000

"7
7
7 g.
6 g.
(7) 4
4 g.
3 g.
3
3
6 g.
6 g.
6 g.
6 g.
6 g.

g•
g.
g.
g.

M.
A.
M.
J.
J.

&
&
&
&
&

S. N. Y., Mercantile Tr. Co.
O.
do
do
N. N. Y., Farm. L. & Tr. Co.
J.
July, ’90, last paid.
J.
do
do

4-5

Mch. 1, 1916
Apr. 1, 1990
19l6
July 1, 1911
Jan. 1, 1937
Jan. 1, 1919

J. & J. N.Y.. Gallatin Nat. B’k.
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
Boston.
J. & J.
Boston.
July 10 Boston, when earned.
July 10
do
do
July 1
do
do
J. & D. N. Y., Nat. City Bank.
M. & S.
April 1.
May 1
J. & J. N. Y., Office, 6 WaU St.

Jan. 1,
Jan. 1,
Jan. i ;
Jan. 1,
July 1,
July 1,
Jan. 10,
Jan. 10,
July 1,
June 1,
July 1,
July 1,
July 1,
July 1,

1915
1915
1915
1924
1911
1911
1939
1939
1911
1927
1917
1917
1937
1921

from the Mexican Government was $15,200 per mile on mdst of the
lines, an in July, 1890, a contract was made by which all subsidy pay­
ments on lines now constructed (except 15 miles on Pacific Coast) were
discharged by the payment of $14,865,594 in Mexican silver. The
total subsidy collections from the beginning, including the present
settlement, amount to about $17,000,000 in American money. See V.
51, p. 909.
The $7,000,000 priority bonds were paid oflf with proceeds of subsidy
collections, interest ceasing April 10, 1891. See V. 52, p. 390. After
the payment of the priority bonds there was left of the subsidy about
$4,400,000 to be put m trust and used whenever necessary for the pay­
ment of principal and interest of the consolidated mortgage bonds.
In 1889 a funding plan jras agreed to. in accordance with which new
bonds were issued to retire old securities (see circular in full, Chronicle ,
V. 48, p. 191; also p. 292, 327). The consolidated mortgage 4s (trus­
tee. Boston Safe Deposit & Trust Company) cover the entire
property, all old firsts deposited, and the subsidy earned and to
be earned. (See abstract of mortgage in Chronicle , V. 49, n. 177.)
Both series of incomes are non-cumulative and secured by one inden­
ture to the American Loan & Trust Company. First consolidated in­
comes received 3 per cent interest July 10,1890, and 3 per cent in Julv,
1891. Capital stock, $46,902,600; par, $100.
Prices of stock—In 1886,133s® 14; in 1887, 11% ® 22; in 1888,12%®
1614; in 1889,131
8®18; in 1890,16®311 in 1891, to May 22 inclusive,
2;
18%® 24%. \
From January 1 to March 31, 1891 (3 months), gross earnings in
Mexican currency were $1,679,908, against $1,729,947 in 1890; net,
Surplus........................
18,132
618,741
674,407
923,672 $636,189. against $616,666.
The annual report for 1890 in V. 52, p. 716, 723, gave a full account
* Includes other income.
of the affairs of the company and its prospects; with earnings, balance
t 3 per cent in cash and 3 per cent in dividend bond scrip.
sheet, &c. In the following the gross earnings are given in Mexican
—(Y. 50, p. 138, 245, 353, 391, 519, 560, 707; Y. 51, p. 206, 207, 248, currency, all other figures in 77. S. currency.
41 4, 681, 494, 719; V. 52, p. 238, 322, 351, 353, 642, 707.)
INCOME ACCOUNT— (U. S. CURRENCY EXCEPT GROSS EARNINGS).
M aricopa & Phoenix.—Owns from Maricopa, Arizona, on the South1887.
1888.
1889.
1890.
t^n Pacific Railroad, to Phoenix, Arizona, 35 miles. Stock is $600,000 Av. miles operated...........................
........
1,461
1,527
tomr, $100). From January 1 to June 30,1890 (6 months), gross earn­
Receipts—
$
$
$
$
ings were $48,506; net, $23,449; surplus over charges, $7,249. Presi­ Gross earnings, Mex. cur.
4,886,578 5,774,331 6,337,225 6,425,694
dent, N. K. Masten, San Francisco.
Net earns., &c., U. 8. cur.
1,680,295 1,748,459 2,096,056 1,978,157
M a r ie t ta & N o r t h G e o r g ia .—Owns road completed in Au­ Net subsidy received.......
204,845
474,922
812,912
601,127
gust, 1890, from Knoxville, Tenn., to Marietta, Ga., 217 miles; Miscellaneous..................
1,273
22,542
17,953
Branch, 7 miles; trackage, Western & Atlantic Railroad, Marietta, Ga.,
to Atlanta Ga., 20 m iles; total operated, 244 miles. At Knoxville con­
Total net income....... 1,885,140 2,224,654 2,931,510 2,597,237
nection is made with the Knoxville Cumberland Gap & Louisville,
TJ 'it'Y P YP l.t.Q *
\
'Q.'YI 'Y —
which affords access to the coal fields near Cumberland Gap, and to Interest on coupon notes.
316,313 316,313
91,981
......
the Louisville & Nashville system. Interest defaulted Jan. 1,1891, and Interest on 1st mortgage.
1,254,677 1,357,717 1,767,595 2,406,114
J. B. Glover appointed permanent receiver on Feb. 23. It is proposed Interest on debentures...
250,000 250,000
180,067
28,467
to issue $1,100,000 of receiver’s bonds in order to put the road in good Miscellaneous...................
74,612
77,575
105,881
261
condition. Stock issued, $1,560,000. The Central Trust Company of
New York is trustee of the consolidated mortgage. Mortgage on line
Total............................... 1,895,602 2,001,605 2,145,524 2,434,842
from Marietta to Murphy, 112 miles, is at rate of $16,000 a mile, and on
Balance.......................... def.10,462 sr.223,049 sr.785,986 sr.162,395
Knoxville extension $20,000, average rate being $17,300. (V. 49, p.
—(V. 49, p. 83,177; Y. 50, p. 244, 275, 6 6 1 , 6 6 7 , 801, 834; V. 51, p.
616; V. 51, p. 345; Y. 52, p. 121,165, 350, 463.)
M arquette H o u g h to n & O n ton agon .—See D uluth South 114, 240, 538, 609, 909; V. 52, p. 203, 390, 681. 7 1 6 , 723.)
M exican N ation al R a ilro a d (M ex ico ).—(See M ap.)—Owns
Shore & A tlantic.
M aryla n d Central H a llw a y .—Owns Baltimore, Md., to Delta, from Laredo to City of Mexico, 842 miles; Acambaro to Patzuaro, 96
Pa., 44 miles. Leases York & Peach Bottom Railway, York, Pa., to m iles; El Salto branch, 45 miles; Matamoras to San Miguel, 76 miles;
peach Bottom, 40 miles; total (narrow gauge), 84 miles. In May, 1891, small branches, 5 miles; total owned, 1,064 miles; controls through
Consolidated with the York & Peach Bottom under title of Baltimore ownership of stock, Texas Jdexican Railway, Corpus Christi to Laredo,
& Lehigh. It is proposed to change the gauge and to build extensions. Texas, and branch, 163 miles; other lines, 5 miles; total owned and
1890 gross earnings were $231,154; net, $54,280, agt. $54,320 in controlled, 1,232 miles. This road was opened for traffic about Novem­
ber 1,1888.
t$89. Surplus over charges in 1889, $21,617.
The foreclosure of the former company (Mexican National Railway)
M em p h is Sc C h arleston.—(See Map of East Tennessee Virginia <■ took place on May 23,1887, and the present company acquired 716
£
Georgia.)—Owns from Memphis to Stevenson, Ala., 272 miles; branches miles of road. It also oontrols the Texas Mexican Railway, owning all
-r-io Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to its first mortgage bonds, $1,196,000 second mortgage bonds out o f a
Chattanooga, 40 miles; total operated, 330 miles. Of the consolidated total issue of $1,380,000, and $2,453,750 of its capital stock out of a
Riortgage, $1,400,000 are secured by the old Tennesse State lien for total issue of $2,500,000.
$1,736,906, assigned to a trustee, and thus stand higher in value. On
The subsidy from the Mexican Government was $7,000 Mexican cur­
$lay 1,1890, there were $130,236 car trusts outstanding, maturing 1891 rency per kilometer. Prior to default of the former railway company
to 1894. The stock is $5,312,725; par, $25.
$2,500,000 of subsidy certificates were pledged to secure $5,000,000 of
The East Tennessee Virginia & Georgia RR. in September, 1885, first mortgage bonds, and at the re-organization this amount became
placed a majority of the stock (which it owns) in the Central Trust Co. applicable to certain of the A and B bonds for which the $5,000,000
for control. The validity of this ownership of stock was contested. (See old first mortgage bonds were exchanged. In the re-organization also,
V. 50, p. 703.)
$7,000,000 subsidy certs, were pledged as additional security for the
From July 1,1890, to March 31,1891 (9 months), gross earnings were $12,500,000 new first mortgage bonds, $3,000,000 of which subsidy
$1,407,258, against $1,371,504 in 1889-90; net, $394,681, against was then delivered to the trustees and $4,000,000 remained to be
$439,677.
earned. The construction of the 563 kilometers (350 miles) in the main
In the year ending June 30,1890, gross earnings were $1,795,480; line earned $3,941,000 of subsidy, but of this amount $939,000 is ap­
net, $526,480; surplus over charges, $136,331. In 1888-9, gross earn­ plicable for the benefit of the five million A and B bonds, leaving $3,002,ings, $1,617,928; net, $389,191; interest on bonds, $376,680; car 000 applicable to interest upon the first mortgage bonds when net earn­
trusts, etc., $23,406; deficit, $10,893. (Y. 48, p. 398, 729; V. 49, p. 471, ings are in deficit to meet the same, and afterwards for redemption of
7 5 9 , 789, 824; V. 50, p. 174, 703; Y. 51, p. 276, 4 5 6 , 612.)
said bonds, subject, however, to a charge of $35,000 per year for five
M exlean Central (M ex ico ).—(See Map)—Mileage—Main line years, payable to the Mexican National Construction Company. The
^Mexico City north to El Paso del Norte, 1,224 miles, 406 miles on Tam­ Sabinas coal road, 75 miles, on which a subsidy was payable, has not
pico Division, 11 miles on Guanajuato Branch, 161 miles on Guadalajara been constructed. In the year 1890 $305,314 United States cur­
Division, and 16 miles on the San Bias Division, and branches 13 miles, rency, out of subsidy collections, was paid for account of deficiency
in net earnings to meet interest charges on first mortgage bonds. Ne­
made a total of 1,832 miles January 1,1891.
The company was incorporated February 25, 1880, under the general gotiations are pending with the Mexican Government for the conver­
law of Massachusetts, and by transfer the company holds a charter from sion of the remaining certificates. The amount due is about $5,000,the Mexican Government, granted December 5, 1874. The subsidy 000 in Mexican dollars. See V. 51, p. 876.




■M y , 1891. J
a




RAILROAD

STOCKS AND

BONDS.

83

mb

84

INVESTOKS’

SUPPLEMENT,

[V ol.

LH.

Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f a n y error discovered in tbese T a b le s.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
Par
S or explanation o f column headings, &c., see notes of
of
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Dividend.
Whom.
Michigan Central—Stock.............................................
Consol, mort.—now 1st M. ($2,000,000 are 5s).c&r
M. C. Michigan Air Line, 1st mortgage............c&r
M. C. Gen. mort, on Grand River YaL R R .......c&r
M. C. 1st mortgage on Kalamazoo & S. Haven.c&r
Grand River Yalley stock, 5 per cent rental........
Detroit & Bay City 1st mortgage endorsed___c&r
Bridge bonds..........................................................
M. C. 1st M.on Det.&BayCityRR. (regis Q.—M.)c&r
Jack. Lans. & Sag. con. M. ($l,586,O0O are 8s) .c&r
Bay City & Battle Creek 1st mort., gold, guar...
Battle Creek & Sturgis 1st mort., gold, guar.......
Middletown Un. & T . Gfap—lstM .ext.25yrs.in’86.c*
P
2d mort. guar, interest, reduced to 5 per cent...c*
Milwaukee Lake Shore < Western—Common stock..
È
Preferred stock, 7 per cent......................................
Consol, mort, (now 1st mort.) $12,000 p. m. gold
Tncome bonds (not cumulative)............................r
Equipment bonds of 1882 ($30,000 red. yearly)..
Michigan Div. 1st mort, goid (for $3,000,000)..c*
Ashland Division 1st mortgage, gold..................c*
Equip, bonds 1885 ($100,000 drawn yearly)___c
1st Ms.on Hurley & Onton. br’ches (dr’n at 100) .c
Conv. debentures, secured by mort of 1889, g. .c*
Ext. & Im p.M .for$5,000,000,g., s. f.n o td r’n. .c*
St. Paul East. Gr’d Trunk lst,M. gold,int. guar.c*
Milwaukee < Lake Winnebago—1st mort., g old .. .c*
&
Income mort., gold (cumulative) interest paid.c*
Debent., convert., gold, see remarks..................c*

27Ó 1872
115 1890
84 ’79- 86
39 1889
84
147 1872
1873
147 1881
295 71&80
18 1889
41 1889
13 1866
i
1871
___
1881
1881
1882
85* 1884
40 1885
1885
Ï6 1886
531 1887
531 1889
56 1883
65 1882
65 1882
1884

$100 $18,738,204 2 & 1 ex.
1,000 10,000,000 7 & 5
l,000&c
2,600,000
4
1,000
1,500,000
6
l,000&c
700,000
5
50
491,200
2*2
1,000
274,000
8
1,000
150,000
8
l.OOO&c 3,576,000
5
1,000
2,519,000
6 &8
....
250,000
3 g.
___
421,000
3 g.
100 &c.
150,000
5 g.
500 &c.
250,000
5
100
2,232,700
7
100
5,000,000
3*2
1,000
5,000,000
6 g.
1,000
500,000
6
1,000
30,000
8
1,000
1,281,000
6 g.
1,000
1,000,000
6 g1,000
400,000
6
1,000
125,000
6 g.
1,000
544,000
5 g1,000
3,479,000
5 g.
1,000
1,120,000
6 g.
1,000
1,430,000
6 g1,000
520,000
5 g1,000
239,000
6 g.

The new first mortgage for $12,500,000 is a prior lien upon all the
lines in Mexico, constructed or to he constructed, and upon the above,
named securities. The bonds are redeemable on notice at par. Trus­
tees Hugh M. Matheson and Charles Magniae. On Jan. 1,1891, $862,397 raised by sale of first mortgage bonds remained unexpended; $743.266 of this being in capital reserve fund, $69,543 in betterments fundand $49,589 held for debts of old company. In 1891 first mortgage
bonds for $319,000 were called for payment on June 1.
The 2d mortgage bonds, series “ A.” are strictly cumulative, and not
foreclosable wrule stock remains in trust as below stated; the 2d mort­
gage bonds, series “ B,” are non-cumulative; trustees, Lyman K. Bass
and J. A. Horsey. Third mortgage income trustees, C. J. Canda and H.
A. Risley. Stock, $33,350,000 (par $100), placed in trust with the
Farmers’ Loan & Trust Company, leaving the road in control of 1st and
2d mortgage bondholders until it earns and pays interest on both classes
Of bonds for two consecutive years, in which event the control reverts
to the stockholders. See annual report for 1890 in Chronicle, Y. 52, p.
532, and description of property in V. 48, p. 627.
From January 1 to March 31,1891 (3 months), gross earnings were
$1,044,497, against $963,216 in 1890; net, $290,946, against $177,547,
■all Mexican currency.
In year 1890 gross earnings (Mexican currency) were $3,754,966; net,
$827,006, equal in American currency to $661,604, to which add sub­
sidy receipts,&c., $319,985; total net (Am. cur.) $981,589. Deduct inter­
est on bonds, $809,500; miscellaneous, $135,654; balance (Am. cur.)
$36,435, representing earnings from Federal Government not yet
collectible. In 1889, gross, $3,660,124; net, $666,693; subsidy, &c.,
$203,534; total net, $736,888. Deduct interest, $753,880; miscellane­
ous. $32,119. Balance, deficit, $49,111—offset by subsidy receivable.
— (V. 50, p. 451, 4 8 0 , 590; V, 51, p. 569, 876; V. 52, p. 498, 532.)
M ic h ig a n C e n tr a l.—(See Map New York Central < Hudson
6
R iver.)—Line of R oad .—Main line—Kensington to Detroit, 270 miles,
and Windsor to Suspension Bridge. (Canada Southern), 226 miles;
total main line, 496 miles. Branches owned and leased—Michigan
A ir Line Railroad, 115; Joliet & Northern Indiana, 4 5 ; Grand
River Yalley, 34; Jackson Lansing & Saginaw, 295; Kalamazoo & South
Haven, 39; Detroit & Bay City, 151; Saginaw Bay & Northwestern,
$ 7 ; Toledo Canada Southern & Detroit, 59; Canada Southern Bridge
Company, 4 ; Michigan Midland & Canada, 15; Canada Southern
branches, 101; Sarnia Chatham & Erie, 7 ; Erie & Niagara, 31; Battle
•Creek and Sturgis, 34; other, 35; total branches, 1,099 miles; trackage
Hlinois Central, 14 miles; total operated January 1,1891,1,609 miles
There are 241 miles of second track and 762 miles of side tracks.
Organization , L eases, &c.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The
lines described above as leased are all held by the Michigan Central
nominally under leases at fixed rentals, but are practically owned.
In November, 1882, a close contract was made with Canada Southern
for working its road by the Michigan Central and for the division of net
profits over all charges as follows—one-third to Canada Southern and
two-thirds to Michigan Central; but the Michigan Central is entitled to
-an increase on this proportion as it diminishes its interest charge by
payment of bonds or otherwise, and hence it now obtains more than
two-thirds of the net income.
Stocks and B onds.—The Michigan Central stock has remained at the
same amount since 1873.
Dividends since 1870—In 1870-71,10 per cent; 1871-72,10; 1872-73
5 and 4 in scrip; in 1874 to 1877, inclusive, n il; in 1878, 2; in 1879, 3 ^
in 1880, 8; in 1881, 6 ^ ; in 1882, nil; in 1883, 5; in 1884, 3 ^ in 1885
and 1886, n il; in 1887 and 1888, 4 ; in 1889, 4 ; in 1890, February 1, 2
and 1 extra; August 1, 2 ; in 1891, February 2, 2 and 1 extra.
Price of stock: In 1880, 75®1301 ; in 1881, 84%®1261 in 1882
s
2;
77® 105; in 1883, 77®100i«; in 1884, 51%®94ifl; in 1885. 4 6 ^ 7 9 %
in 1886, 611
2@98%; in 1887, 80®95!e; in 1888, 72®92ie; in 1889, 84Lj
| @ 991 in 1890, 83® 104%; in 1891, to May 22, inclusive, 891
4;
4®96.
The Jackson Lansing & Saginaw bonds due Sept. 1,1891, which were
assumed by Mich. Central may be extended till Sept. 1,1901, at 5 per
-cent, if presented at company’s office between July 15 and August 14
also pays $70,000 per year on the stock of $2,000,000.
The total issue of Battle Creek & Sturgis bonds is $500,000, but of
this $79,000 was subguaranteed by the Lake Shore & Michigan South: ern, and appears in its debt, 7 miles of the B. C. & S. being operated by
that company.
Operations, F inances, &c.—The road is operated under a close con­
tract with Canada Southern, and the earnings of t-oth roads are included
in the statistics below.
The annual report for 1890 was in Y. 52, p.717, showing the following
1887.
1888.
1889.
1890.
Miles operated............
1,537
1,537
1,540
1,609
$
$
$
$
Gross earnings.......... 14,164,490 13,770,523 13,786,925 14,490,711
Operating expenses.. 9,875,246 10,086,606 9,895,158 10,731,754

Net earnings............... 4,289,244
P. c. op. exp. to earns.
6972




3,683,917
73-24

3,891,767
71-77

3,758,957
74-06

F. & A. N. Y. Gr’d Cent. Depot.
M. & N. N. Y., Union Trust Co.
J. & J.
do
do
M. & S.
do
do
M. & N.
do
• do
J. & J.
do
do
M. & N.
do
do
M. & N.
do
do
M. & S.
do
do
M. & S.
do
do
J. & D.
do
do
do
do
J. & D.
M. & N. N. Y., N. Y. Susq. & W.
do
do
J. & D.
N. Y., N. Bk. of Com’rce.
F. & A.
do
do
M. & N.
do
do
M. & N.
do
do
J. & J. N. Y., S. S. Sands & Co.
J. & J. N. Y., Bk. of Commerce.
M. & S.
do .
do
J. & J. N. Y., S. S. Sands & Co.
A. & O.
do
do
F. & A. N. Y., Bk. of Commerce.
F. & A.
do
do
J. & J. N. Y., S. S. Sands & Co.
J. & J. N. Y., 36 Wall St. & Bost.
J. & J.
do
do
A. & O.
do
do

Feb. 2, 1891
May 1, 1902
Jan. 1, 1940
Sept. 1, 1909
Nov. 1, 1939
Jan., 1891
May 1, 1902
May 1, 1903
Mch. 1, 1931
Sept. 1, 1891
Dec. 1, 1989
Dec. 1, 1989
Nov. 1, 1911
Dec. 1, 1896
Feb. 16,1891
Feb. 16,1891
May 1, 1921
May 1, 1911
Jan. 14, 1892
July 1, 1924
Mch. 1, 1925
Jan. 1, 1900
Apr. 1, 1896
Feb. 1, 1907
Feb. 1, 1929
Jan. 1, 1913
July 1, 1912
July 1, 1912
Apr. 1, 1904

INCOME ACCOUNT.

1887.
Net, incl’g other inc. 4,341,962
Disbursements—
Rentals paid.............
184,310
Interest on debt....... 2,351,619
Miscellaneous..........
32,513
Can. Southern share.
540,870

1889.

1890.

3,739;i93

3,938,433

3,816,450

184,310
2,336,782
15,938
339,161

184,310
2,328,216
7.731
407,444

184,310
2,270,022
134,723
355,633

1888.

Total.................... 3,109,312
2,876,191
2,927,701
2,944,688
Surplus for div’ds ...
871,762
1,232,650
863,002
1,010,732
Dividends.................. .(4) 749,528 (4) 749,528 (5) 936,910 (5) 936,910
Surplus...............

483,122

113,474

73,822 *def.65,148

Balance to credit of income account December 31,1890, was $2,099,392.
—(V. 50, p. 245, 6 6 0 , 662, 904; V. 51, p. 680,909; V. 52, p. 717.)
M ilw a u k ee Lake Shore Sc W e ste rn .—( See Map.)—Owns Lake
Shore Junction to Ashland, Wis., 387 m iles; Monioo to Hurley, 88
m iles; branches (seven in number) to Oshkosh, Wausau, &c., 115 m iles;
branches to mines, 31 m iles; spurs to mills, &c., 40 m iles; total owned,
660 miles; leases, Milwaukee to Lake Shore Junction, 4 m iles; St. P.
E. G. T., Clinton to Oconto, 56 miles, and spurs, 4 miles; total leased. 64
miles; total owned and leased, 724 miles; but only 693 miles operated,
20 miles of spurs being leased to various manufacturers. Extension to
iunction with Duluth South Shore & Atlantic Railroad, 13 miles, in pro­
gress. (See V. 51, p. 494.) In 1890 $232,700 stock was issued toward
the construction of a line from Wausaw to Marshfield, 42 miles. This
extension is to be completed during 1891. Successor in 1876 to the
former company foreclosed in 1875.
Preferred stock has a preference to the extent of 7 per cent from net
earnings. The debentures are convertible into stock at par at any time
within ten days after the date fixed for payment of dividends on common
stock. The equipment bonds are redeemable $30,000 per year at p a r;
the equipments of 1885 $100,000 per year at 105, and the Ontonagon
1st mort. $25,000 per year at par, and all redeemable at 105
The extension and improvement .mortgage of 1889, (trustee, Central
Trust Company), covers the whole road, subject to prior mortgages, and
is a first lien on new branches. Under it are reserved sufficient bonds
to retire the debentures of 1887. Its sinking fund commences in 1893.
and will receive yearly not less than $25,000; these bonds are not
subject to call. Common stock authorized, $5,000,000.
Dividends—On common: In 1888, 4 per cent; in 1889, n il; in 1890,
7 ; in 1891, 7. On preferred: In 1887, 7 ; in 1888, 7 ; in 1889, 6 ; in
1890, 7 ; in 1891, in February, 3*2.
The annual report for 1890 was in V. 52, p. 532.
1887.
1890.
1888.
1889.
$
$
$
$
3,848,567
Gross earnings........... 3,180,621
2,836,783
3,474,667
1,432,637
1,091,774
Net earnings............... 1,240,323
1,520,463
24,866
47,733
15,294
Other receipts.............
12,989
Total net receipts. 1,288,056
Interest paid*............. *517,687
Rentals andmiscel..
31,307
430,000
Dividends....................
Rate of dividend........ 7 on p. 4 0.

1,104,763
579,305
29,593
300,000
6 on pref.

1,535,757
671,499
31,764
490,000
7 on both.

1,457,503
703,050
37,869
506,289
7 on both.

309,062

195,865

342,494

1210,295

Balance.................

t Of this balance $55,000 was used for redemption of bonds and
$105,000 for sinking fund.
—(V. 49, p. 52, 403, 793; Y. 50, p. 71, 107,139, 4 4 9 , 452, 5 1 7 , 706;
V. 51, p. 21, 494, 715, 786; Y. 52, p. 121,126, 278, 280, 532.)
M ilw a u k ee & L ake W in n e b a g o .—Owns from Neenah to
Schleisingerville, Wis., 65 miles. Builtin 1882 and leased for 99 years to
Wis. Cent, at 37*2 per cent of gross earnings as rental; but after $175.000 per year is received, the balance of net earnings is to be equally
divided. The $1,000,000 debentures were authorized to be issued as re­
quired for improvements, and they are convertible on any coupon day
into preferred stock; the lessee pays interest on them during first ten
years after issue. Preferred stock, 6 per cent cumulative, $780,000;
common stock, $520,000; par of shares, $100. Dividend of 3 per cent
on preferred stock was paid July 1 5 ,1 8 8 8 ,lOHs in 1889; 9 m 1890,
and 412 in January, 1891. Preferred stock is now regularly paying
(Jan. and July) its dividend of 41 per cent, being regular preference of
2
6 per cent,and, on account of accrued back dividend,an additional 3 per
cent—i. e., 9 per cent per annum in all. In 1890 gross rental was
$211,109; in 1889,$186,3 78.
M ilw a u k ee Sc N orth ern .—(See Chicago Milwaukee < St. Paul.)
6

May , 1891.]




BAILROAD

STOCKS

AND

BONDS,

85

INVESTORS’
SUI PLEMENT.
[You LII.




Ma y ,

1891.}

KAILROAB

STOCKS

AND

BONDS.

8 7

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
STor explanation of column headings, &c., see notes of 1 of
Par
Where Payable, and by Stocks—Last
on first page of tables, -wd
Road. Bonds Value. Outstanding 1 Cent. Payable
Whom.
Dividend.
Milw. < Northern—1st mort., Schwarz.to Or. Bay.o* 126
ê
Cons. M. ($17,000 p.m .),lst M. north of Gr.Bay.c* 362
Mine H ill & Schuylkill Haven—Stock 7 ^ p. c. rental
53
M ineral Range—New consol. M., gold, red. at 105..c
I7
M inneapolis d St. L .—1st M.,Minn.toMerriam Je.c
h
27
1st mortgage, Merriam Junction to State Line.c
93
IstM . Minn.&Dul.,Minn.toWhiteB.Lake,guar..c:
15
1st mort., gold, coup. (Al. Lea to Fort Dodge). .c'
102
Imp. & equip. M., lst& 2d ser.,ju n . lien on road.c
360
Mort.on Southwestern extension($12,000 p.m.)c*
53
2d, M.,ine.,red.at 100, g.(WhiteB’rtoFt.Dodge)c* 224
Pacific extension, 1st mortgage, gold................ c*
92
M inn. St. P. < S.Ste. M ar—M.8. St.M.&At. 1st M. g.c' 495
6
Minneapolis & Pacific. 1st M., $15,000 p. m., g..c* 286
Consol. M. (for $21,000,000), $20,000 p. m., g..c* 800
M issouri Kansas & Tex.—New stock($13,000,000pf.)
Tebo. & Neosho 1st mort., gold, s. f., red. at 100.. Ï00
East Line & Red River 1st mortgage.....................
156
New 1st mortgage, gold........................................... 1,601
New 2d mort., income (non-cum.)for 5 years gold. 1,601
Dallas &Waco lstM .,$20,000p.m .,g.,p.&i. gu.c*
67
Boone ville Bridge-, leased,IstM.,g.,gu.,dr’n at 100
M issouri Pacific—Stock...............................................
Pac. RR. of Mo. 1st mort., g., extended in 1888... 283
2d mort., to be extended till 1938 at 5 per cent. 283
1st mortgage on depot in St. Louis.....................
1st mortgage Carondelet Branch, guar..............
13
3d M. (covering all property of Pacific RR. of Mo.) 296
1st mort, on St. Louis & Lexington (Mo. Pacific).
55
Consol. M.,g.,$30,000,000 ($15,286,000 res’d)..c* 1,060

1880
1884
1891
1877
1877
1877
1879
1882
1880
1880
1881
1886
1886
1888
1870
1880
1890
1890
1890
1873
1868
1871
1872
1873
1876
1880
1880

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

m i n e r a l fita n g e .—Houghton, Mich., to Calumet, Mich., 15 miles;
branch, Franklin Station to Franklin, 2 miles ; total, 17 miles. This
road was under the H. S. Ives’ management, and October 1,1887, de­
faulted in payment of interest. The receiver appointed in June, 1888,
was discharged November 30, 1889, and road restored to company.
In 1891 the old bonds were nearly all retired, the new capitalization
being $400,000 stock and $600,000 consolidated first mortgage bonds.
The new bonds cover all the property, including $250,000 of Hancock &
Calumet stock, which is five-sevenths of the whole issue.
From January 1 to March 31,1891 (3 months), gross earnings on 17
miles were $28,429, against $22,880 in 1890 ; net, $12,828, against
.$10,195.
In 1890 gross earnings, $125,469 ; net, $60,053. Gross earnings in
1889, $109,775; net, $47,845. President, Charles Bard; Secretary, John
Tully, 40 Wall street. (V. 52, p. 390, 571.)
M in n e a p o lis & S t .L o u is .—Owns mainline, Minneapolis to Angus,
la., 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo
Branch, 2 miles ; Lake Park Branch, 1^ miles; total operated, 354^
miles. Leases trackage from Minneapolis to St. Paul over St. Paul &
Northern Pacific Railroad ; also owns from Minneapolis to White Bear,
12 miles, which is leased to the St. Paul & Duluth Railroad.
Of the bonds issued under the 1877 mortgage, due J une, 1927, those
numbered from 1,101 to 1,400, for $500 each ($150,000 in all, in addi­
tion to those above), were assumed by the Burlington Cedar Rapids &
Northern RR. Preferred stock, $4,000,000 issued; common stock,
$6,000,000 issued ; par of both $100 per share. The Jan., 1888, coupon
oh equipment bonds went to default. W. H. Truesdale, President, was
appointed receiver in June, 1888, in the foreclosure suit under improve­
ment and equipment mortgage. The suit is pending and reorganization
plan will soon be offered. The last coupon paid on each issuè is shown
in the table above.
From July 1,1890, to March 31, 1891 (9 months), gross earnings were
$1,221,495, against $1,192,732 in 1889-90; net, $458,520, against
$450,982.
Fiscal year ends June 30. Report for 1889-90 was given in full in
Chronicle, Y. 51, p. 425. For year ending June 3 0 ,18'90, gross earn­
ings were $1,507,122; net, $505,173. In 1888-89 gross earnings,
$1,330,518 ; net, $332,960.—(Y. 49, p. 235, 3 4 0 ; V. 50, p. 71, 204, 205 ;
V. 51, p. 84, 142, 4 2 5 ; V. 52, p. 321, 60.8, 642, 681, 718.)
M in n e a p o lis St. P a u l < S a u lt Ste. M a r ie .—(,See Map.)—
fc
From Minneapolis to Sault Ste. Marie, Mich., 491 miles; branches, 23
miles ; from Minneapolis northwest to Boynton, Dak., 286 miles ; total
•completed, 800 miles. Formed May, 1888, by consolidation of the
Minneapolis Sault Ste. Marie & Atlantic, the Minneapolis & Pacific,
■etc. (See V. 46, pp. 538, 609.) Controlled in the interest of the Cana­
dian Pacific, which guarantees by endorsement 4 per cent interest on
the bonds. (See V. 50, p. 784 ; V. 51, p. 239.) About one-half the
Minneapolis & Pacific bonds and practically all of the other issues have
assented to the reduction of interest to 4 per cent,
Abstract of Minneapolis Sault Ste. Marie & Atlantic mortgage in V. 45,
p. 243. The consolidated mortgage of 1888 (trustee, Central Trust Com­
pany, mortgage abstract Ch ronicle , V. 47, p. 142) will retire thé prior
bonds at maturity ; se’e V. 52, p. 608. Stock—common, $14,000,000;
preferred, $7,000,000 ; par, $100.
From January 1 to March 31, 1891 (3 months), gross earnings were
$456,111, against$489,082 in 1890; net, $149,993, against $126,605,
In 1890 gross earnings were $2,013,370; net, $669,004. In 1889.
gross, $1,651,412; net, $609,570.—(Y. 49, p. 373; V. 50, p. 801 ; V. 51,
p. 239, 416; V. 52, p. 280, 608.)
’
M in n e a p o lis S treet R a i l w a y . —See Miscellaneous Securities.
M is s o u r i K a n s a s & T e x a s .—(See Map.) R oad Owned and
Operated .—Owns from Hannibal, Mo., to Denison, Texas, 577 miles;
branches, Parsons, Kan., to Junction City, Kan., 157 miles; Denison
Tex., to Whitesboro, 25 miles; Fort Worth to Taylor, 162 miles; Deni­
son to Mineola; Texas, 103 miles ; three small branches, 20 miles; total
■owned, 1,044 miles, not including 54 miles leased to the Missouri
vvuibODuuiu w ucniiciiitt, o / inno»; -Liiyior to isoggy creek,
railes*
San Marcos to Lockhart, 16 miles; Trinity to Sabine, 67 miles ; Dallas
-& Waco RR.—Dallas to Milford, 51 miles (extension since completed,
16 miles); East Line & Red River RR.—Jefferson to McKinney 153
miles (of which 121 unies narrowgauge) ; total proprietary lines, 554

In 189 ) leased tor 99 years the Kansas City & Pacific, now a part of the
main line to Kansas City.
O r g a n i z a t i o n , H i s t o r y , & c .—The Missouri Kansas & Texas Company
was organized April, 1870. In May, 1881, leased to the Missouri Pa­
cific, but on June 1, 1888, default was made on interest payments and a
foreclosure suit was begun. H. C. Cross and George Eddy were appointed
receivers in October, 1888. Reorganized in 1830, without foreclosure
in accordance with the plan of the Olcott Committee in V. 49, p. 719’
the old first mortgage being paid off at par. The receivers will probably
.be discharged about July 1. See V. 52, p. 796.




$2,155,000
6
J. & D. N.Y., Ch. Mil. & St. Paul
J. & D.
4,003,000
6
do
do
J. & J. PhUa.,Office, 119 S. 4th.
4,081,900
3
600,000
5 g. J. & J. New York, Agency.
455,000
7 g. J. & J. Last paid Jan., 1891.
950,000
7 g. J. & D. Last paid Juné, 1890.
280,000
7 g. M. & N. Last paid Nov., 1890.
1,015,000
7 g. J. & D. Last paid Dee., 1887.
J. & J. Last paid July, 1887.
4,000,000
6
636,000
7 g. J. & D. Last paid Dec., 1887.
500,000
7 g. J. & J. Last paid Jan., 1888.
1,382,000
6 g. A. & O. Last paid April, 189Ö.
10,000,000 4 (5 g.) J. & J. N. Y., Morton, B. & Co.
4,290,000 4 (5)
J. & J.
do
do
6,710,000 4 (5 g.) J. & J.
do
do
60,000,000
187,000
7 g. J. & D. N. Y., Central Trust Co.
J. & D.
39,000
6
New York.
39,774,000
New York.
4 g. J. & D.
20,000,000
4 g. F. & A. N. Y., when earned.
1,170,000
New York City.
5 g- M. & N.
752,000
7 g. M. & N. N. Y., Central Trust Co.
1
47,246,300
Q .-J . N. Y., Mercantile Tr. Co.
7,000,000
do
do
4 g. F. & A.
J. & J.
2,573,000
7
do
do
M. & N.
800,000
8
do
do
245,000
do
do
6 g- A. & O.
3,828,000
7 ; M. & N.
do
do
F. & A.
650,000
5
do
do
14,904,000
do
do
6 g. M. & N.

June 1,
June H
Jan. lo ,
Jan. 1,
Jan. 1,
June 1,
May 1,
June 1,
July 1,
Dec. 1,
Jan. 1,
Apr. 1,
July 1,
Jan. 1,
July I}

1910
1913
1891
1931
1907
1927
1907
1909
1922
1910
1891
1921
1926
1936
1938

June 1, 1903
1910
June 1, 1990
June 1, 1990
Nov. 1} 1940
May 1, 1906
Apr. 15,1891
Aug. 1, 1938
July 1, 1891
May 1, 1892
Oct. 1, 1893
Nov. 1, 1906
Aug. 1, 1920
Nov. 1, 1920

The East Line & Red River RR., most of whose securities are owned
by this company was placed in the hands of W. Giles as receiver in
April, 1891. See V. 52, p. 641.
The company has a land grant in the Indian Territory of 3,622,400
acres, subject to the extinguishment of the Indian title. The Booneville
Bridge Company is a separate organization.
The stock of the International & Great Northern Railroad was ac­
quired by Missouri Kansas & Texas in May, 1881, by an exchange of
two shares of Missouri Kansas & Texas stock for one of International &
Great Northern. This stock (97,284 shares), which had been deposited
in trust to secure advances made by Missouri Pacific, was in February,
1890, sold at auction, and will hereafter, in accordance with the Ol­
cott plan, be held jointly by the Missouri Kansas & Texas and Missouri
Pacific, the control being vested in Mr. F. P. Olcott, who will hold 1,000
shares.
Stock and B onds.—The new stock is $13,000,000 4 per cent noncumulative preferred and $47,000,000 common. Price of new pre­
ferred stock: In 1890, l e ^ S r t s ; in 1891, to May 22, inclusive.
19%@26.
Full abstracts of the new first mortgage (trustee Central Trust Company)
and of the new second mortgage (trustee Mercantile Trust Company)
were in V. 51, p. 495. Both mortgages cover the securities of proprie­
tary lines, as well as the lines owned directly. Payment of interest on
the new second mortgage bonds is not obligatory till after Aug. 1,1895.
Interest is guaranteed on $2,500,000 Kansas City & Pacific 4' per cent
bouds and $752,000 Booneville Bridge 7s, and principal and interest on
Dallas & Waco bonds (issue limited to $2,000,000.)
The company’s interest charges will be as follow s: Interest on $39,774,000 new lsts, $1,590,960; interest on $226,000 Tebo & Neosho and
East Line & Red River bonds, $15,430; total fixed interest charges,
$1,606,390; interest on $20,000,000 second mortgage 4s (not a fixed
charge till after August 1,1895), $800,000; total interest charges ahead
of preferred stock, $2,406,390.
From Jan. 1 to April 30, 1891 (4 months), gross earnings were $2,577,424, against $2,439,226 in 1890. For. the same period (4 months),
including the Kansas City & Pacific, gross earnings were $2,680,071,
against $2,527,946 in 1890.
Report for 1890 was in Chronicle,V. 52, p. 640. Earnings, etc., have
been as follows :
TRAFFIC AND EARNINGS.

•1889.'•
1890.
Miles operated (average)........ ..........
1,711
1,777
Operations—
Passenger mileage.............. ......... T . . ......... 56,226,926
.
68,284,460
Rate per passenger per mile........ ................. 2-81 cts.
2-78 cts.
Freight (tons) mileage.................................. 557,455,530
586,558,891
Average rate per ton per mile....................... 1-04 cts.
1-12 cts.
Total gross earnings ......................
Operating Expenses—
Maintenance of cars and w ay........................
Motive power.................................
Transportation,....................................
.
General.................

7,922,444

9,004,005

2,241,997
1,856,179
1,953,966
192,864

1,661,664
1,999,977
2,483,948
206,273

Total expenses.....................................
Net earnings......................________ __ ’ _____
P.c. of op. exp. to earns, (exclu. of extraod’y

6,245,006
1,677,438
70*22

6,351 ,S62
2,652,143
70*54

RECEIVERS’ INCOME ACCOUNT.

Receipts—
Net earnings, including other receipts...
Disbursements—
Interest on bonds, etc............................
Rental K. C. & P. R R ................................
Taxes........................

1889.

$

1890.

1,737,622

2,701,489

99,648

62,931
99,096
162,280

187,266

Total disbursements
.......................
286,914
324,307
Balance........ : . . ____
.................. .
1,450,708
2,377,182
—(V. 50, p. 71,107, 138, 205, 244, 313, 352, 353, 391, 423, 452, 484.
590, 6 2 0 , 662, 703, 735, 771, 801; V. 51, p. 172, 416, 457, 494, 495,
538; Y. 52, p. 121, 204, 428, 463, 609, 6 4 0 , 641, 796.)
M is s o u r i P a c if ic .—R o a d O w n e d a n d O p e r a t e d . — Operates main
line St. Louis, Mo., to Omaha, Neb., 496 m iles; Pleasant Hill, Mo., to
Joplin, Mo., 133 miles; Verdigris Valley Independence & Western RR.
and extension—Leroy to Deeriug, Kan., 81 miles; Leroy A Oauey Val­
ley—Roper to Peru, Kan., 52 nines; small lines in Kansas, Missouri an L
Nebraska, 686 miles; total Missouri Pacific system proper, .Jauuhry
1891,1,448 miles, of which 1,194 miles are owned and 2 5 1 miles 0•
."»or­
ated under lease.
Also operates certain “ branoh lines ” which have a separate corpor­
ate existence, but which are nevertheless an integral part of th •sys­
tem, most of their bonds being pledged to secure Missouri Pacific
issues. The branch lines include the Kansas & Colorado Pacific, «to.,
affording a direct line from Ottawa, Kan., to Pueblo, Jol., ¿ 4.9 miles,
the Kansas City Fort Scott & Wichita—Fort Scott to Kiowa. K in., etc..
310 miles. Their total mileage January 1, 1891, being 1,6, 7 miles.
0
Total Missouri Pacific and branch lines, 3,145 miles.

«s




IN NESTORS’

SUPPLEMENT.

[V ol.

LII.

Ma y , 1891.]

RAILKOAD

STOCKS

AND

BONDS

89

Subscribers w i ll con fer a great fa v or by g iv in g im m ediate notice o f an y error discovered in tbese T ables.
RAILROADS.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due»
Amount
Forjexplanation of column headings, «fee., see notes of
Par
of
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent.
Whom.
Dividend.
M issouri Pacific—(Continued.)—
Collateral trust bonds, gold ($15,000,000).. ,c*<fer 1,120 1887 $1,000 $14,376,000
fe
* «• M. < S. N. Y., Mercantile Tr. Co. Jan. 1, 1917
>
Collateral trust bonds for $10,000,000 gold___c*
1,000
1890
7.000.
000
F. < A.
fe
do
do
Aug. 1, 1920
Boonville St. Louis < Southern RR. 1st m ort..... ‘ 44 1886
&
1,000
i g- F. < A.
400.000
&
do
do
Aug. 1, 1911
Ler. «feCaney Yal.RR.lst M.,g.gu. ($10,000 p.m.)c*
80 1886
1,000
J. < J.
fe
520.000
do
do
July 1, 1926
* * M. < S.
Verdigris Val. Independence & W. 1st M.,g.,guar.
75 1886
1,000
fe
5 g.
750.000
do
do
Feb. 1, 1926
M issouri Pacific System—St. Louis Iron. Mt. & So...
St. Louis Iron Mt. < So. 1st mortgage..................c 210 1867
&
1,000
F. < A.
fe
4.000.
000 7
do
do
Aug. 1, 1892
2d mortgage, gold...............................................c* 310 1872
1,000
6.000. 000
7 g. M. «fe N. New York or London. May 1, 1897
Arkansas Branch 1st mort., gold, land gfltat..
1,000
99 1870
fe
2.500.000
7 g. J. < D. N. Y., Mercantile Tr. Co. June 1, 1895
Cairo Ark. < Tex. 1st..................................c*&r
&
71 1872
1,000
&
1.450.000
do
do
7 g. J. < D.
June 1, 1897
Gen. consol, and land gr. M. for $45,000,000. .g 1.272 81to’7 1,000 18,528,000
&
do
do
5 g. A. < O.
Apr. 1, 1931
Do
do
stamped, guaranteed........
fe
1.272
1,000
5 g. A. < O.
6.956.000
do
do
Apr. 1, 1931
Car trusts, series D. and E ..... ....................
894.000
do
do
Kansas < Arkan. Val? 1st M. $20,000 per m., g
&
Ï65 1887
5
3.400.000
1,000
J. «fe J.
do
do
Jan. 1, 1937
Little Rock < Ft. Smith 1st M.,land gr. sink.fund.
&
J. < J.
fe
7
2,342,500
165 1875 500 «fee.
do
do
Jan. 1, 1905
Ten-year coupon notes (scrip)...................: ___ _
J. < J. Boston, E. Atkin < Co.
fe
356,510
fe
7
Little Rock Junct’n 1st < 2d M. ($35,000 are 2d)
&
1,000
“
2 1884
A. < O.
fc
7
435.000
do
do
April, 1914
Mobile & Birm.—1st, gold, guar. ($20,000 p. m.).c<fcr 147 1887
1,000
fe
3.000.
000 5 g- J. < J. N. Y., Chase Nat. Bank. Jan. 1, 1937
Mobile < Dauphin Isl.—1st M. g. (for $3,000,000).c
&
1,000
F. «fe A. N. Y., Of., 32 Nassau St.
350.000
1888
1928
6 <•
?
Mobile & Qirard—3d mortgage ($200,000 are 6s). .c '8 5 1877
&
1,000
4 fe
fe
1.000.
000 < 6 J. < D. N. Y. Security < Tr. Co. June 1, 1897
Mobile < Ohio—1st M., g., Mob. to Colum., 472 m.c* 472 1879 500 «fee.
e
fc
fe
7.000.
000 6 g. J. < D. N. Y., Farm. L. < Tr. Co. Dec. 1, 1927
1st mort., exten.,gold,Colum. to Cairo < branch. c*
fe
Q.—Jan.
1,000
do
do
55 1883
1.000.
000
July 1, 1927
&
General mortgage for $10,500,0001. g. s. f ..........c 527 1888 500 «fee.
8.169.000
s * M. < S. N. Y., Gallatin Nat. Bk. Sept. 1, 1938
Equipment bonds ($60,119 of these are car trusts)
808,792
uaFly.
New York City.
6
84to’9 1,000
Var., *91 to ’99
Monterey < Mex. Gulf—ls t. M. g., $25,000 per m.c* 29 i 1888
&
. < N. New York and London. Nov. 1, 1938
fe
1,000
7.275.000
Montgom < Eufaula—1st, s. f., $15,000 not dra’n.c*
6
fe
1,000
1.500.000
81 1879
I e' J. «fe J. N. Y. Security < Tr. Co. July 1, 1900
Mont. Tusc. < Mem.—1st M., gold, $18,000 per m.c*
&
1,000
1889
2.070.000
6 g, J. «& D. N. Y., Metropol’nTr. Co. July 1, 1929
Morgan's La. < Tex.—1st M. (N. O. to Morgan City) c* Ï02 1878
&
1,000
7
5,000,000
A. «& O. N.Y.,S.Pac.Co.,23Broad Apr. 1, 1918
1st mortgage, Alexandria Extension, gold............ 157 1880
1,000
do
do
1.494.000
6 g J. «fe J.
July 1, 1920
__________
Also operates Central Branch Union Pacific, 388 m iles; Sedalia War­
M issou ri Pacific System —St. L o u is Ir o n M o u n ta in Sc
saw & Southern, Sedalia to Warsaw, 42 m iles: St. Louis Iron Mountain < Sou th ern .—Owns St. Louis to Texarkana, Texas Line, 490 milesfe
Southern and leased lines, 1,550 miles; total, 1,980 miles. Grand total branches to Belmont, Mo., Bird’s Point, Mo. (Cairo), Camden, A rk /
Missouri Pacific mileage January 1,1891, 5,125 miles. Since acquired, Helena, Ark., Cushman, Ark., Arkansas City, Ark., Warren, Ark., Mem­
Houston Central Arkansas < Northern, McGehee, Ark., to Riverside, phis, Tenn., «fee., 718 m iles; total owned January 1,1891,1,208 miles.
&
La., 118 miles, and Fort Scott < Eastern. 27 miles.
fe
Leases Little Rock < Fort Smith and Little Rock Junction railroads
fc
Organization , L eases, «fee.—The Pacific RR. of Missouri was sold in 172 miles; Kansas < Arkansas Valley RR., 170 miles. Total operated
fc
foreclosure September 6,1876. The present company was a consolida­ January 1,1891,1,550 miles.
tion in August, 1880, embracing the Missouri Pacific and a number of
The general consolidated mortgage is for $45,000,000, sufficient bond»
minor roads.
being reserved to retire all prior issues, these covering only 485 miles;
The St. Louis Iron Mountain < Southern stock is mostly owned by the The mortgage is a first lien on the 787 miles in Arkansas and on all un­
&
Missouri Pacific, much of it having been acquired in May, 1881, by ex­ sold lands, amounting to 779,059 acres on January 1,1891. Trustee o f
change o f three shares o f Mo. Pac. for four shares of Iron Mountain.
mortgage, Mercantile Trust Company of New York. As indicated in
S t o c k a n d B o n d s .—Under the new regime the payment of dividends the table above, part of the general mortgage 5s are endorsed with the>
was begun on the present stock in 1880, in which year 1*2 per cent was Missouri Pacific’s guaranty o f principal and interest. January 1,1891
paid. Dividends since have been: In 1881, 6; m 1882, 6% ; ih 1883 there were still $344,314 old incomes of various issues outstanding.
to 1887, inclusive, 7 yearly; in 1888, 5 ^ ; in 1889,4; in 1890,4; in 1891,
The stock ($25,763,950) is nearly all held in the treasury of the Mis^
January, 1; April, 1.
souri Pacific Railway Co., much o f it having been retired in May, 1881»
Price of stock—In 1883, 86@10678; in 1884, 63^ ® 100; in 1885, 89*2 by the issue of three shares of Missouri Pacific stock for four o f the St.
'@111%; in 1886,100%@119; in 1887, 84%@112; in 1888,
Louis < Iron Mountain, and a large amount of it since. The sales o f
fe
in 1889, 641
a@78; in 1890, 53@791 in 1891 to May 22, inclusive, land in Arkansas were given in the report for 1890 as 39,982 acres at,
4;
601
4@73%.
$2-89 per acre; in Missouri as 11,549 acres for $1-09 per acre; from
The 2d mortgage bonds of Pacific RR. of Mo. maturing July 1,1891, Little Rock < Fort Smith Railroad grant 16,419 acres for $3-28 per
fc
will be extended at the rate of 5 per cent per annum, gold, until July 1, acre. Lands in Arkansas unsold December 31,1890, 693,217 acres; in
1938, the present security andlien remaining in force. See V. 52, p. 761. Missouri, 85,842 acres; of Little Rock < Fort Smith RR., 532,196 acres.
fc
The consolidated mortgage above is for $30,000,000—trustees John F.
The Little Rock < Fort Smith Road was absorbed by an exchange o f
&
Dillon and Edward D. Adams. Of the consolidated bonds the balance its stock in 1887 (4 shares for 3 of St. Louis & Iron Mountain.) See titla
unissued is in the hands of trustees to redeem prior bonds as they fall of that company in S u p p l e m e n t of May, 1888, and previously.
due. See abstract of mortgage containing descriptions of prior liens,
The St. Louis < Iron Mountain report for 1890 was in V. 52, p. 425,
fc
C h r o n ic l e , V . 47, p. 287.
INCOME ACCOUNT.
The collateral trust bonds due 1917 (Union Trust Company of New
1888.
1889.
1890»
York, trustee) are secured by mortgage bonds of new railroads at
1,190
1,208
1,550
$12,000 or $15,000 per mile. For securities pledged, «fee., see C h r o n ic l e , Miles operated..........................
Receipts—
$
$
V. 46, p. 678.
$
8,964,795 10,859,173
As to collateral trust bonds due in 1920, see V. 50, p. 669, 874. An Gross earnings........................... .. 8,084,646
increase of stock to $55,000,000 was authorized in July, 1890, of which Net earnings............................. .. 2,994,614
3,773,355
3,889,487
$1,000,000 to be given as bonus with the $10,000,000 collateral trust Other receipts............................
60,239
288,529
27,356.
bonds, $2,000,000 in exchange for Iron Mountain stock, and the remain­
der to be issued as the stockholders may from time to time determine.
Total net income................ .. 3,054,853
4,061,884
3,916,843
The Leroy < Caney Valley Railroad in Kansas, 80 miles, is leased and
fc
Disbursements—
bonds guaranteed by Missouri Pacific as also the Verdigris Valley Inde­ Interest on bonds....................... .. 2,407,300
2,407,626
2,414,506
pendence < Western. The Booneville St. Louis & Southern RR. (Boone- Taxes, bridge expenses, «fee_
fc
_
409,003
383,144
798,973
ville to Versailles, Mo., 44 miles) is leased at $25,000 per annum.
D ividends..................................
1,030,248
773,294
O p e r a t io n s , F in a n c e s , «fee.—The annual report of Missouri Pacific
for 1890 was m the C h r o n ic l e , V. 52, p. 425. The gross earnings, oper­
Total disbursements........... .. 2,816,303
3,821,018
3,986,773
ating expenses and surplus earnings o f all lines operated for the years Balance for year....................... .. +238,550
+240,866
—69,936
1888,1889 and 1890 were as follows:
(V. 50, p. 390, 703; V. 51, p. 416; V. 52, p. 41, 351, 4 2 5 ,4 2 8 .)
A ll lines—
1888.
1889.
1890.
Miles operated, average. ...............
4,813
5,019
5,125
M o b ile Sc B l r m l n s l i a m .—(See Map East Tennessee Virginia <
&
$
$
$
Total earnings..................... .......... 22,189,453 23,493,467 25,370,344 Georgia.)—Mobile to Marion Junction, Ala., on the East Tennessee Vir­
fc
Total expenses................................. 15,852,842 15,532,883 18,002,729 ginia < Georgia Road, about 147 miles; opened in July, 1888. Abstract
of mortgage V. 45, p. 274. East Tennessee Virginia < Georgia owns a
fe
Surplus earnings....................... 6,336,611
7,960,584
7,367,615 majority of the stock and guarantees principal and interest o f bonds.
Stock, $3,000,000 (par $100), and bills payable August 23, 1888»
Ratio op. exp. to gross earn........... 71-44 p. c. 66-12 p. c. 70-96 p. c.
For the Missouri Pacific proper and branches (3,145 miles), not in­ $627,500. In year ending June 30, 1889, gross earnings, $172,3601
cluding Iron Mountain and other auxiliaries, the report was as follows : net, $8,840; interest, $145,390; deficit, $136,550.—(V. 51, p. 612,)

S

EARNINGS AND EXPENSES.

1888.
Miles operated December 31.......
3,119
Earnings—
$
Passengers..................................... 2,939,725
Freight............................................. 7,790,949
Mail, express and miscellaneous.. 1,647,967

1889.
3,119
$
2,665,354
8,286,682
1,624,184

1890.
3,145
$
2,742,808
9,174,427
1,589,294

Total earnings......................... 12,378,641
Total operating expenses............. 9,411,980

12,576,220
8,868,828

13,506,529
10,224,706

3,707,39®

3,281,823

Net earnings..................................

2,966,661

INCOME ACCOUNT.

Receipts—
Net earnings..................................
Dividends, interest, «fee................

Total net income.....................

1888.
1889.
1890.
$2,966,661 $3,707,392 $3,281,823
941,376
1,981,790
2,223,951
$3,908,037

$5,689,182 $5,505,774

Interest on bonds.......................... $2,535,718
Dividends paid.............................. *1,539,120
Rate of dividend............................
*3 1 %
Taxes, rentals, «fee...... ..................
941,523
Commissions on bonds.................
250,000
Loss on St. L. < San Fran, stock.
&
283,230

$2,458,485 $2,598,143
1,758,994 1,823,498
4
4
793,275
588,187
............
............
; ..........

T h'shursem ente_

Total disbursements............... $5,549,591 $5,010,754 $5,009,828
Balance for year—
.............. +$1,641,554 +$678,428 +$495,946
* The dividends actually paid in the year 1888 were 5% per cent, but
the income account in the report gave only 3 ^ , as above.
(V. 50, p. 174, 245, 275, 3 8 9 , 519, 669, 874; V. 51, p. 84, 171, 829,
876,,910; V. 52, p. 4 2 5 , 534,761.)




M o b ile fe D a u p h in I s l a n d R a i l r o a d fe H a r b o r C o m p a n y »
—Projected from Mobile to Dauphin Island, Ala., 36 miles. Stock au­
thorized, $3,000,000; outstanding, $90,000. Robert Sewell, N. Y.,
President.
M o b ile Sc G ir a r d .—Owns from Columbus, Ga., to Troy, Ala., 85
miles. Under construction from Troy seuthwest to Andalusia, Ala., 53
miles. Stockholders voted November 22, 1890, to issue bonds at
$12,600 per mile for the extension from Troy, Ala., to Pollard, Brewton, or some other point, the total issue not to exceed $4,000,000»
Common stock, $1,137,121; preferred stock, $137,608, and $2,630 PikeCounty stock; par, $100. From June 1, 1886, road was leased to the
Central of Georgia (which owns ($803,900 stock) for 99 years at a guar­
anteed dividend of l 1 per cent per annum on $473,400 stock. Of the
^
bonds $200,000 are 6s and $800,000 4s. In 1888-89 gross earnings.
$242,362; net, $93,564. (V. 51, p, 570, 680.)
M o b ile Sc M o n t g o m e r y .—(See Map Louisville < Nashville.)—Own»
&
from Montgomery, Ala., to Mobile, Ala., 180 miles. The stock is $2,-'
050,800; all owned by the Louisville < Nashville Railroad Company»
fe
which now operates the road. The Louisville < Nashville Company haa
fe
issued $2,689,000 bonds secured on this road, $2,677,000 of which, as
well as $2,939,700 stock, are pledged for the 10-40 bonds of that com­
pany. In 1888-89 gross earnings were $1,261,643; net, $427,709.
M o b ile & O h io .—(See Map.)—Owns from Mobile, Ala., to Colum­
bus, Ky., 472 miles, proprietary line, Kentucky < Tennessee Railroad
fc
to Cairo, 21 m iles; also branches to Starkville, «fee., 34 m iles; total
owned, 527 m iles; leases St. Louis & Cairo Railroad, Cairo to St. Louis.
152 miles, and track to Millstadt, 9 miles; total operated, 688 miles.
In 1886 the lease of the St. Louis < Cairo Railroad (161 miles) was
fe
taken for 45 years at a rental guaranteed to amount to $165,000 per
year. Stock authorized, $10,000,000; outstanding, $5,320,600; par
$100. Lands June 30,1890, were 685,610 acres, valued at $359,029»




R A IL R O A D

M a y , 1891.]

STO CK S

AND

BONDS

91

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N ^ ílJ M í- ^

n

INVESTORS’

SUPPLEMENT.

[V o l .

LIT,

Subscribers w ill confer a great fa v o r by g iv in g Im m ediate notlee o f a n y error discovered In tbese T a bles.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS,
Miles Date Size, or
Due»
Amount Rate per When Where Payable and by pal,WhenLast
Par
of
Stocks—
For explanation of column headings, &c., see notes of
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Dividend.
Whom.
$50 $15,000,000
3*3 J. & J. N.Y., Del. Lack. & West. Jan. 1, 1891
1864 500 &c.
M. & N.
do
5,000,000
7
do
May 1, 1914
do
F. & A.
do
1866 500 &c.
2,999,000
7
Aug. 1, 1891
do
Yar’us 1,000
J. & J.
do
281,000
7
Jan. 1, 1900
do
1,000
A. & O.
do
1871
4,991,000
7
Oct., 1901
do
1,000
do
8,908,000
J. & D.
June 1, 1915^
7
137 1875
do
do
Yar’us
2,795,000 4^3 & 5
Various.
100
M. & N.
do
do
2
May, 1891
2
250,000
Morris & Essex Extension stock, guar. 4 per cent.
100
4*3 M. & N. Nashua, Co. s Onice.
Nov. 1, 1890
800,000
15
Nashua Lowell— Stock,9 p.c. rental,92 yrs. B.&M.
__
do
F. & A.
do
Aug. 1, 1893
1873
200,000
6
Bonds not mortgage..................................................
do
do
July 1, 1900
1880
100,000
5 g. J. & J.
Do
do...............................................................
100
6,668,612
Q.— F. New York & Nashville. May 1, 1891
l-*4
Nashville Chattanooga < St. Louis— Stock................
&
1,000
J. & J. N.Y., Continental N. Bk. July 1, 1913
6,300,000
7
1st mortgage (for $6,800,000) ............ c*<fer 340 1873
do
do
1,000
Jan. 1, 1901
1,000,000
6
J. & J.
2d mortgage, gold or silver...............................c*<fcr 321 1881
5,000
do
do
500,000
4
J. & D.
June 1, 1891
Bonds hel(i by~U. S. Government............................ 170 1871
1,000
do
do
Jan. 1, 1917
750,000
6
J. & J.
1st M. on Fayette, and McM.brs. ($6,000 p.m.)e*&r 125 1877
1,000
do
dò
J. & J.
Oct. 1, 1917
300,000
6
29 1877
is t mortgage on Lebanon Branch.......................c*
do
do
Jan.,1906&’23
461,000 6 g. & 8 J. & J.
43 ’77-’ 83 1,000
1st M. on Jasper Br. ($90,000 are 8s, due 1906)c*
do
1,000
do
Jan. 1, 1923
376,000
46 1883
6 g. J. & J.
1st mortgage on Centreville Branch, gold— c*<fcr
1,000
do
do
Jan.1892 to’17
600,000
6
J. & J.
20 1887
1st M. on Tracy City Br. (Tenn. C. & I. RR.).c*&r
1,000
do
do
July 1, 1917
130,000
7 1887
1st M. on Bon Xir Br., 10-30s,$20,000 per mile.c*
6 g. J. & J.
Apr. 1, 1928
1,000
do
do
2,847,000
A. & O.
650 1888
5 gConsol. M., g., (for $20,000,000), $20,000 p. m.c*
do
do
Jan. 1, 1896
106,000
6 & 8 J. & J.
48 1876 500 &c.
Duck River^RR. 1st M., $6,000 p.m., assumed.c*
1,000
do
do
Nov. 1, 1909
34,000
48 1881
6 g- M. & N.
2d mortgage, assumed.......................................c*
Nashville.
25
2,208,582
Dec. 6, 1890
3
J. & D.
Nashville < l)ecatui— Stock, guar. 6 p. c. by L. & N. 119
&
1,000
2,100,000
J. & J. N. Y., 20 William St. July 1, 1900
7
1870
” 1st mort., guar., s. f. ($2007000 held in stock fd.). 119
do
do
1,000
Aug. 1, 1937
1,920,000
91 1887
5 g. F. & A.
Nash. Flor'.dk Sheff—1st M. for $2,500,000, g., gu.c
1,000
M. & N. N. Y., Mercantile Tr. Co.
1918
900,000
6
1888
N ash ville < Knoxville— 1st mort. for $2,000,000. .c*
ti
100
2,000,000
5
J. & J. New Haven, Ct., Treas. Jan., 1891
Naugatuck— St’k,10 p.c. ren’l, 99 yrs.,N.Y.N.H.&H.
do
l,000&c
J. & D.
do
June 1, 1913
150,000
4
55 1883
" i s f mortgage.7... 7............. ..................r

M orris < Essex— Stock, 7 p. c. guar. D. L. & W ........
&
1st mortgage, sinking fund.....................................
2d mortgage...............................................................
Convertible bonds.....................................................
Gen. M. & 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol. M. (for $25,000,000) guar. D. L. & W.c*&r

84
84

In May, 1888, the new 4 per cent mortgage for $10,500,000 (trustee,
Farmers’ Loan & Trust Company,) was issued to pay floating debt, re­
tire debentures, &c. Until after September 1, 1891, interest on tbe
bonds may be paid in scrip, fundable into bonds of same issue, and tbe
March, 1889, coupons were so paid; tbe September, 1889, coupon was
paid
cash and half scrip; tbe 1890 coupons and the March 1891
ooupon all in cash. There can be no foreclosure under this mortgage till
four coupons are in default. Of the total amount ($10,500,000). author­
ized under this mortgage, there has been canceled by operation of the
«iniring fund $500,500, there are held to exchange for debentures not
exchanged $120,545, and the company holds in reserve in its treasury
$2,055,000. See mortgage abstract, \ . 47, p. 83. There are still out­
standing $26,000 Cairo extension 6s, due July 1,1892, fo,r which ex­
tension bonds of 1883 are reserved.
From July 1,1890, to March 31, 1891 (9 mos.), gross earnings were
$2,536,983, against $2,194,927 in 1889-90; total gross receipts, in­
cluding other income, $2,750,946, against $2,362.429; net over oper­
ating expenses and taxes, $988,424, against $836,082.
Price of stock: In 1891, to May 22, inclusive, 26@443
4.
Fiscal year ends June 30. Report for 1889-90 was given at length in
C h r o n i c l e , V. 51, p. 499; see also p. 170, 475,492.
INCOME ACCOUNT.

Receipts—
1886-87.
1887-88.
1888-89.
1889-90.
Gross earnings.......-$ 2 ,43 1 ,3 8 1 $2,629,536 $2,881,474 $3,173,431
$710,392
$934,781 $1,070,918
Net earnings!............. $637,713
Int^on 1st mortgages.
$480,800 $480,000
Rent to St. L. & C .. . . .
128,863
165,000
Int. on general mort.....................
............
Int! oh car trust, & c...
26,729
59,918

$480,000
165,000
............
73,752

$480,000
172,127
232’§^Y
93,504

Total disbursem’ts
$636,392 $704,918
$718,752
$978,556
Exnended for__________ -too/? orr CDOOO i Ki . 1 QQrr OO CDO r r s included
additions to property and new equipment (not A n Ch . i-n
M onterey Sc M exican G u lf.—('Sec Map.)—Owns road to be com­
pleted in June, 1891, from Venadito (on the Mexican International
Railroad) via Monterey to Tampico, on the Gulf, about 400 miles. At
Monterev three large smelting works are in course of construction, and
at Tampico the Government is making a deep water harbor, and large
shipments of bullion it is expected will go over the new road from
Monterey to Tampico for export. The Central Trust Company of New
York is trustee of the mortgage. Sinking fund after November 1,
1898 but bonds cannot be drawn. The Mexican Government gives this
road* a subsidy of $14,222per mile in 6 per cent silver bonds. From
January 1 to April 30, 1891 (4 months) gross earnings on 327 miles
were $293 593, against $93,662 on 157 miles in 1890. General Trevino,
■president ’ Mexico; T. S. Bullock, Vice-President, 40 Wall Street, New
York. (V. 48, 764; V. 49, p. 300, 540; V. 50, p. 71, 484, 662, 904.)
M o n t g o m e r y Sc E u fa u la .—Owns Montgomery to Eufaula, Ala.,
80 miles Foreclosed May 1,1879, and re-organized. Operated under
contract by Central of Georgia, and interest paid by the rental. Stock
f« <
fti520 000. all owned by Central Railroad of Georgia. In year ending
June 30,1890, gross earnings, $364,169; net, $128,732.
M o n t g o m e r y T u s c a lo o s a Sc M e m p h is .—!'See Map Alabama
Midland )_Under construction from Montgomery, Ala., on the Alabama
irmiand to Artesia, Miss., on the Mobile & Ohio and the Illinois Central
183 miles, to be completed in July, 1891. Mr. J. W. Woolfolk, Presi
dent, 45 Wall Street, New York.
M o rga n ’ s L o u isia n a Sc T ex a s R a ilro a d & Steam ship C om >anv —("/See Map o f Southern Pacific <ompany.)—Owns from New Oraar>s to Chenevville, 204 miles; branches, 55 miles; trackage Cheneyidlle to Alexandria, 24 m iles; total, 283 miles. In February, 1883, the
a+oftk was mostly purchased for the Southern Pacific Company, which
on January 1,1891, held $4,994,000 of the total $5,000,000 (par, $100)
Operated under lease to Southern Pacific Co., the lessee paying all
charges and also 23 per cent of the net profits of the whole Southern
Pacific system. Company has 17 iron steamships plying between New
York and New Orleans and between Gulf ports; also wharves, ware­
houses ana a majority interest in the capital stock of the Houston &
Texas Central Railway Company, &c. There are also $249,002 New
Orleans Opelousas & G. W. 5 per cent bonds, due April 1, 1899
assumed. Dividends in 1888, 2 per cent; in 1889, nil.
F r o m January 1 to March 31, 1891 (3 months), gross earnings were
«1 583 965 against $1,245,700 in 1890; net, $473,687 against $328,050 For year 1889, gross, $5,366,666; net, $1,739,295. In 1890 gross
«5 709 969 net, $2,012,491; surplus over charges $1,196,044; net
profits’due company under lease to Southern Pacific $565,799.
V M orris & E ssex.—(»See Map o f Delaware Lackawana & Western.)—
Owns from Hoboken, N. J.. to Phillipsburg, N. J., 85 miles; branch,
Denville N J., via Morris & Essex Tunnel, to Hoboken, N. J., 35 miles;
leases* Morris & Essex Extension RR. into Paterson, N. J., 2 miles;
other ¿nes 14 miles; total operated, 136 miles. In 1868 leased in peretuitv to the Delaware Lackawana & Western RR., the lessees assumur all liabilities and paying 7 per cent per annum on the capital stock,
Thev also agree to pay 8 per cent in case 10 per cent is earned on the
stock in anv one year. The Morris & Essex is important to the Dela­
ware Lackawanna & Western as a route with terminal facilities on New
York Harbor, but the actual earnings on the road show a large annual

J

S




deficit for the lessee company after the payment of rental. The loss to*
lessee was in 1880, $1,012,416; in 1881, $985,890; in 1882, $941,550
in 1883, $1,104,218; in 1884, about $1,100,000; in 1885 and 1886,.
about $900,000. In 1889, gross earnings of road proper (119 miles)
were $4,921,636; net, $1,274,512. (V. 52, p. 280, 350.)
N a s h u a Sc L o w e l l . —Owns from Lowell, Mass., to Nashua, N. H.,
15 miles. On October 1,1880, a lease for 99 years to the Boston &
Lowell was made. In 1887 lease was transferred to Boston & Maine
Railroad Company, which pays a rentalof $73,000 (9 percent on stock)..
The funded d'ebt of $300,000, principal and interest, is assumed by thelessee, and the les&or holds the lessee’s notes for the same amount—
$300,000. (V. 45, p. 143.)“
N ashville C hattanooga Sc St. L o u is.—(»See Map.)—Owns from*
Chattanooga, Tenn., to Hickman, Ky., 320 m iles; branches to Lebanon,
&c., 332 miles; total operated June 30,1890, 652 miles. Also owns the
Tennessee & Coosa Railroad, which will be extended so as to run from
Gadsden, Ala., via Manchester, to Bell’s Factory or Huntsville, 75
miles. The Jasper branch will also be extended 20 miles and consol­
idated 5s will be issued for both lines. The Western & Atlantio, 138
miles, has been leased for 29 years from December 27,1890.
A majority of the stock ($3,385,000) is owned bv the Louisville <
fc
Nashville RR. Co., and pledged for its 10-40 and unified mortgages.
Of the consolidated mortgage of 1888 (United States Trust Co., trus­
tee), $10,807,000 bonds were reserved to retire all prior bonds.
From July 1, 1890, to April 30, 1891 (10 months), gross earning^
were $3,331,566, against $2,977,052 in 1889-90; net, $1,349,275,
against $1,185,674; surplus over interest, taxes and improvements,
$459,618, against $390,211; mileage, 652, against 652.
Dividends since 1880—In 1 8 8 1,3 ; in 1882, l ^ ; in 1883 and 1884,
2 ; in 1885. nil; in 1 8 8 6 ,1 ; in 1887, 4 ; in 1888, 4 ^ ; in 1 8 8 9,5 ; in
1890, 5 ; in 1891, Januaiy 26, It*; May 1, l ^ .
Fiscal year ends June 30. The report for 1889-90 was in Chronicle,
V. 51, p. 415.

*

income account.

1886-87. 1887-88.
1888-89. 1889-90,
$
$
$
$
Total gross earnings........ 2,774,248 3,091,653 3,300,165 3,550,460
Total net income........... 1,209,082 1,321,404 1,348,721 1,430,414
Disbursements_
Interest on debt and taxes
709,834 760,834
869,696 873,38$
Dividends......................... (4)266,741 (4)266,741 (5)333,426 333,427
Improvements______ . . . .
119,480 145,015
60,903
85,881
Total disbursements..
1,096,055 1,172,590 1,264,025 1,292,690
Balance, surplus...............
113,027
148,814
84,696 137,71$
—(V. 50, p. 107, 245, 353, 391, 560, 735, 771, 874; V. 51, p. 22, 207,.
345, 4 1 5 , 570, 609; V. 52, p. 40.)
N ashville Sc D ecatur.—(»See Map Louisville < Nashville.)—Owns
&
from Nashville, Tenn., to Decatur, Ala., 119miles. The road was leased
May 4,1871, to the Louisville St Nashville Railroad for 30 years from
July 1,1872, at a rental of 6 per cent per annum on the stock. The
lessee assumed all the debt of the Nashville & Decatur Company, and
owns $785,300 of its stock. In 1887-88 gross earnings, $1,294,800 p
net, $473,450; surplus over interest and dividends, $182,123. In year
ending June 30,1889, gross earnings were $1,295,379; net, $435,476.
N ashville Florence Sc Sheffield.—(»See Map Louisville <t Nash*
ville.)—Owns from Columbia, Tenn., to Florence, Ala., 79 miles, with
branch Iron City, Tenn., to Pinckney, Tenn., 12 miles, and has trackage»
Florence to Sheffield (Memphis & Charleston Railroad), 6 m iles; total»
97 miles. Operated by Louisville & Nashville, which company guaran­
tees the principal and interest of the bonds by endorsement, and owns
$565,000 of the $708,585 stock, par $100. In year ending June 30,
1890, gross earnings were $244,021; deficit, $6,527; interest, &o.,
$91,727; total deficit, $98,254. President, M. H. Smith, Louisville, Ky.
N ashville Sc K n o x v ille .—Owns from Lebanon to Cookville, 50
miles in operation; and under construction to Glen Alice on Cincinnati
Southern Railroad. Stock is $500,000; par, 100. Trustee of mortgage»
Mercantile Trust Co. of New York. A. L. Crawford, New Castle, Pa.
N a u g a tu c k .—Owns from Naugatuck Junction, to Winsted, Conn.»
56^3 miles; leased, Watertown & Waterbury Railroad, 4 1 miles; total
a
operated, 61 miles. Leased for 99 years from April 1,1887, to New
York New Haven & Harlem at $206,000 per year, earnings being in­
cluded in those of the lessee. In year ending September 30,1887, gross,
earnings were $725,828; net, $246,664. I * 1885-1886, grass, $704,336;.
net, $221,522.
N esquehontng V a lle y .—Owns from Nesquehoning Junction, Pa.»,
to Tamenend, Pa.,17 miles; Tunnel Branch, Hauto, Pa., to Lansford, Pa.,
1 mile; total operated, 18 miles. Leased for 999 years to the Lehigh
Coal & Navigation Company. In September, 1884, the lease was modi­
fied so as to pay 5 per cent a year only, and the option to purchase the
stock at par and interest was suspended for 20 years, with a guarantee
of 5 per cent per annum on stock.
Nevada Central.—Battle Mountain to Austin, 94 miles. Stock,
$750,000; par, $100. Road sold in foreclosure June 21,1887. Above
bonds were issued in exchange for $750,000 old firsts. Gross earnings
in 1889, $45,506; deficit under operating expenses and taxes, $7,662.
N ew ark Sc H u d so n .—Owns from Bergen Junction to Newark, N.
J., 6 miles. Leased to New York Lake Erie & Western at a rental o f
$17,500 per annum. Erie pays interest on bonds and includes earnings

j

N
a

MAP OF THE

NASHVILLE, CHATTANOOGA
& S T . LOUIS RAILWAY

Ma y , 1891.]

KAILROAD STOCKS AND

BONDS.

AND C O N N ECTIO N S.




INVESTORS’

94

SUPPLEMENT.

[ V o u L1I,

Subscribers w i ll confer a great fa v or by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—^Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
35or explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Nesquehoninq Val.—St’k, 5 p.c. gu. till 1904.L.C.&N.
Nevada Central—1st M. g., income (sinking fund)..
Newark & Hudson—1st mortgage............................c
Newark Somerset < Straitsv.—IstM ., ext. in 1889.c*
6
Newburg Dutchess < Connecticut—Income bonds..r
6
New Castle < Beaver Valley—Stock............................
G
New Haven < Derby—2d. mortgage (now 1st) guar.c*
6
Consol, mortgage for $800,000, interest guar..c*
Mortgage on Huntington Branch............................
Funded coupon certificates.....................................
Real Estate Certificates............................................
N. Hav.& Northamp —St’k, gu. 99 yrs.N.Y.N.H.&H.
1st mortgage.......................................................... c*
Gonsol. sink, fund $15,000 per year not drawn, c*
Northern Extension bonds....................................c*
Bonds convertible into stock...............................c*
Holv. & W., leased, 1st & 2d M. ($200,000 gu.).c*
ägfewjersey Junction—1st. M., guar, by N.Y.Cent.c&r
New Jersey < New York—1st M. (reorganization), c*
£
2d mortgage............................................................. r
New London Northern—Stock......................................
2d mortgage............. ......................................... - .c*
Consolidated mortgage ($300,000 are 4s)..........c*
Newport News & Mississippi Valley—Stock...............
New Orleans < Gulf—1st consol, mortgage, gold, .c*
6
New Orleans < North Eastern—Prior liehmort---- c*
&
N ÖrVns < North West'n—1 stM. ,$20,000 p.m. ,g. ,c*&r
_.
£
N .Y. Brooklyn d;Man. Beach—N. Y. &M.B. 1st M..c*
N. Y. B. & M. B. 1st con. M., gold, guar, by L. I.c*
New Yorkd Canada—1 st M.ster., guar. D. &H.,Can. cJ

18
94
5
44
15
13
13
4

92
m
17
5
34
34
121
100
121
"66
196
196
77
14
All.
150

$50 $1,418,600
1,000
1888
750,000
1,000
1871
250,000
1869 500 &c.
800,000
1877
1,164,500
50
700,000
1870 500 &c.
225,000
1,000
1888
575,000
1888
71,900
1888
480.000
1888
225,000
100
2,460,000
1,000
1869
1,300,000
1,000
1879
1,200,000
1,000
1881
700,000
1886
1,000
700,000
1870
1,000
260,000
1886
1,000
1,700,000
1880 500 &c.
400,000
1885
100,000
loo
1,500,000
1872 500 &C.
387,500
1,000
1880
1,112,000
100 13,694,490
1,000
1886
1,000,000
1,000
1885
1,120,000
1881
5,000,000
1,000
1890
1,540,000
1877 500 &c.
500,000
1,000
1885
867,000
1874 £100 &c 4,000,000

fij its own statements. In 1889, gross earnings, $79,528. Cortlandt
Barker, President, Newark, N. J.
N e w a r k S o m e rs e t & S t r a its v ille —Owns irom Newark, 0., to
Sliawnee, O., 44 miles. Leased to Baltimore & Ohio till November 1,1929
(with right to perpetual renewal at B. & O’s option) at 30 per cent of
gross earnings and a minimum rental of $40,000 (interest on debt).
Stock, common $795,400, and preferred, $218,200 (par both, $50),
$705,550 of the first and $191,850 of the latter being owned by the
Baltimore & Ohio. In 1889-90 gross earnings were $178,583; net,
$16,124; loss to lessee, $43,890, against $37,762 in 1888-89. (V. 49, p.

ai6.)

-

&

N ew burg D utchess & C onnecticut.—
«Owns from Dutchess
Junction, N7Y., to Millerton, N. Y., 59 miles. Reorganized after fore­
closure in January, 1877. In 1889-90 the “ half right of w a y ’ ’ from
©utchess Junction to Hopewell Junction, with the partly built road
thereon, was purchased for $100,000. In addition to above incomes
there are $150,000 1st mortgage 7s, due in 1907, and $65,000 of 5
per cent mortgage notes due $10,000 yearly, Jan. 1,1892, to 1897. In
year ending June 30,1890, gross earnings were $183,518; net, $45,773; surplus over charges, $28,379. The common stock is $500,000
and preferred stock $587,450; par $50. John S. Schultze, President, 59
Wall Street, New York City. (V. 47, p. 626.)
N ew Castle & B eaver V a lle y .—Owns from Homewood, Pa., to
New Castle, Pa., 15 miles. Leased to Pitttsburg Port Wayne & Chicago
Railroad for 99 years at a rental of 40 per cent of gross earnings, and
lease assumed by Pennsylvania Company. Dividends since 1880
have been—in 1881, 24 ‘per cent; in 1882, 14 per cent; in 1883,
2 9 per cent; in 1884,19 per cent; in 1885,10 per cent; in 1886 and
1887,6 per cent each; in 1888 and 1889,10 per cent each; in 1890,11
per cent; in 1891, Jan. 2, 3 per cent (quarterly); Feb., 10 per cent ex­
tra; April,3 (quarterly); May, 10 (extra). Gross earnings in 1890, $271,804; net, $121,869; rental received $108,721, against $98,682 in 1889.
N e w H a v e n & D e r b y .—Owns from New Haven, Conn., to Ansonia, Conn., 13 miles, and extension to the Housatonic Railroad at
Huntington, 4 miles. Leased to the Housatonic for 99, years from
July 9, 1889, the rental being guaranty of interest on bonds and
funded coupon certificates, and 2 per cent on stock till July,
1892, then 3 per cent till July, 1895, and 4 per cent thereafter.
.Dividend* are paid directly to stockholders in semi-annual instalments
January 10 and July 10. Stock is $470,000 ; par, 100.
N e w H a v en & N o r t h a m p t o n .—Operates from New Haven,
Conn., to Conway Junction, Mass., 95 m iles; branches—To Williams­
burg, Mass., New Hartford, Conn., Turner’s Pails, Mass., Tariffville,
Conn., 32 m iles; leases—Holyoke & Westfield RR.10 miles; total, 137
miles. In June, 1887, leased for 99 years to the New York New Haven
& Hartford at 1 per cent on stock till April, 1890; then 2 till April,
1893; then 3 till April, 1896, and 4 afterward. Interest on bonds is
guaranteed. Earnings are included in the earnings of the lessee. The
Holyoke & Westfield has paid annual dividends since 1879. Its first
mortgage bonds due April 1,1911, are guaranteed principal and interest
by the New Haven & Northampton.
N e w J e r s e y J u n c t i o n , —Terminal road threfugh Jersey City,
Hoboken and Weehawken, connecting the trunk lines terminating at
. those points; length about 5 miles. Leased for. 100 years from June
30,1886, to the New York Central & Hudson River RR. Co., which
company guarantees the bonds absolutely. The mortgage is for
$4,000,000.
N e w J e r s e y & N e w Y o r k . —Owns from Erie Junction, N. J., to
Garnerville, N. Y., 29 miles; branches to New City, etc., 5 miles; oper­
ates to Haverstraw, etc., 14 miles; total operated, 48 miles. Reorgan­
ized after foreclosure in April, 1880. Stock outstanding, $1,440,800
common; $787,800 preferred; par, $100. Control of road is with pre­
ferred stock and first mortgage bonds till 6 per cent dividends have been
paid on preferred stock for three years. Gross earnings in year ending
June 30,1890, $253,149; expenses, $205,230; net earnings. $47,919;
surplus over charges, $4,374. Henry W. De Forest, President.
N ew L o n d on N orth ern .—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles. Leased till December 1, 1891, to the
Central Vermont, the rental being $155,000 for the 100 miles New
London to Miller’s Falls;. $39,000 for the 21 miles Miller’s Falls to
Brattleboro; the interest on advances' by lessors for permanent
improvements ($33,706 in 1889-90); $12,000 for Brattleboro & White­
hall Railroad; making total for 1889-90 $239,706. Negotiations
are in progress for an extension of the lease. Dividends sinoel876—
In 1877, 6% per cent; from 1878 to 1886, inclusive, 6; in 1887,
from 1888 to April, 1891, inclusive, at rate of 7 per cent per annum.
Da 1889-90, company received rentals, $208,810, and interest on im­
provements, &c., $35,564; paid interest, Ac., $82,092; dividend (7 per
cent), $105,000; other expenses, $38,499. Bills payable December 31,
1890, $100,000.—(V. 50, p. 314, 706; V. 51, p. 241; V. 52, p. 391,761)
N e w O rle a n s & G u lf.—New Orleans south along the Mississippi
River to Bohemia, with a branch, 66 miles in all, Default was made
on coupon due November 1.1889. and road sold in foreclosure March 5,
1891. See V. 52, p. 391.
From January 1 to March 31, 1891 (3 months), gross earnings
were $41,987, against $37,209 in 1890; deficit, $163, against net of
$2,465. Ip 1890 gross earnings were $159,190 ; net, $17,432. In 1889
gross, $182,140; net, $25,889. (V. 50, p. 662; V. 51, p. 494; V. 52, p.
391.)




2^3
5 g.
7
5 g.
6
10
7
5
6
6
6
1
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6
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4
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7
4 &5
6
6
6
5
7
5
6

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

&
&
&
&

S. Phila., 226 So. Third St.
J.
No coupons paid.
S. N.Y., L. E. & West. RR.
N. N. Y., Union Trust Co.
When earned.
Newcastle, Pa.
j.
& A. Bridgeport, Ct., Office.
& N. N.Y.,Hous.RR.& B’g’pt.
& A.
Bridgeport.
do
& A.
do
& A.
New Haven.
.
& O.
do
& J.
do
& O.
do
& O.
do
& J.
& O. N. Hav. ,N. Tradesm’ sBk.
& A. N. Y. Cent. & Hud. Riv.
& N. N. Y., Mercantile Tr. Co.
& J.
do
do
New London, Office.
J.
& D. N. Y., Bk. of No. Amer.
& J.
. do
do

g. M. &
g• A. &
J. &
g- J. &
J. &
g. A. &
g- M. &

N. May,’89, last coup. paid.
OJN. Y., Central Trust Co.
J.
J. N. Y., Central Trust Co.
J. N. Y., Corbin Bank’g Co.
do
do
O.
N. London, Baring Bros.

Mch. 1, 1891
July 2, 1938
Sept. 1, 1901
Nov. 1, 1929
June 1, 1977
May 5, 1891
Feb. 1, 1900
May 1, 1918
1900
Feb. 1, 1900
1900
April, 1891
Jan., 1899
Apr. 1, 1909
Apr. 1, 1911
July 1, 1896
Apr.’98 &1911
Feb. 1, 1986
May 1, 1910
Jan. 1, 1986
Apr. 2, 1891
July, 1892
July, 1910
Nov. 1, 1926
Nov. 1, 1915
Jan., 1911
Jan. 1, 1940
Jan. 1, 1897
Oct. 1, 1935
May 1, 1904

N ew Orleans & North E astern .—(See Map Cincinnati New Or­
leans & Texas Pacific.)—Line of road from New Orleans, La., to Meridian,
Miss., 196 miles. Stock is $5,000,000; par, $100. This road belongs to
the “ Erlanger System,” and $4,320,000 of the stock and $4,900,00pof
the $5,000,000 1st mortgage bonds are held by the Alabama New Or­
leans & Texas Pacific Junction Railways Company—which see
From July 1,1890, to March 31,1891 (9 months), gross earnings
were $879,126, agst. $860,520 in 1889-90; net, $207,000, agst. $239,000.
In year ending June 30, 1890, gross earnings were $1,219,731; net,
$340,804; deficit under all charges, $15,147, against $167,977 in
1888-89. (V. 51, p. 303; V. 52, p. 204.)
N ew L.Orleans & N orth w estern .—Owns from Natchez, Miss.,
to Rayville, La., 77 miles. To be extended to Hamburg, Ark. Stock
authorized, $4,500,000—$25,000 per mile; par $100. Natchez Construc­
tion Company contractors.
N ew port N ews & M ississippi V a lle y .—This company which
is incorporated under the laws of Connecticut, operates under lease
(till 2136) the Elizabethtown Lexington & Big Sandy Railroad from Hun­
tington, W. Va., to Lexington, Ky., 139 miles, and (till 1936) the
Chesapeake Ohio & Southwestern Railroad from •
Louisville, Ky., to
Memphis, Tenn., and branch, 398 miles; total, 537 miles. The
lessee is to pay fixed charges so far as net earnings suffice, and
any surplus earnings up to 6 per cent are to be divided
between the lessor companies, the excess thereafter to be
retained by the lessee. On January 1, 1891, the company
owned $5,708,700 Chesapeake Ohio & Southwestern common and
$3,511,600 preferred stock; $1,055,500 Elizabethtown Lexington & Big
Sandy Railroad stock; $3,135,936 Chesapeake & Ohio common, $244,736
first preferred and $1,510,400 second preferred stock. On the same
date there was due from the Ches, Ohio & S. W., as per balance sheet,
$935,429, and from the Eliz. Lex. & Big Sandy $46,853. See balance
sheet in V. 52, p. 607. Central Pacific owns $1,680,000 of the stock.
Offices of company, No. 23 Broad Street and New Haven, Conn.—(V. 48,
p. 5 8 9 ; V. 50, p. 559; V. 52, p. 607.)
N e w Y o r k B r o o k l y n & M a n h a t t a n B e a c h .—From Fresh
Pond Junction to Manhattan Beach, and branches to Bay Ridge and
Greenpoint, 20 miles. This was a consolidation August 27, 1885.
Leased for 99 years from May 1, 1882, to the Long Island RR. Co. at
35 per cent of gross earnings, but the rental guaranteed to be at least
$95,980 in each year; 1st consolidated bonds are endorsed by Long
Island Railroad on application. Stock is $350,000 common ana
$650,000 non-cumulative preferred (par, $100). Dividends on preferred
from 1886 to 1890, both inclusive, 5 per cent per annum, paid semi­
annually, April and October, by Long Island Railroad Company. In
year ending June 30.1890, rental was $109,750; deficit under interest
and dividends, $878. (V. 51, p. 494.)
N e w Y o r k & C a n a d a .—Owns from Whitehall, N. Y., to Rouse’s
Point, N. Y., l i 3 miles; branches to Baldwin, Ausable and Province, 37
miles; total operated, 150 miles. Leased in perpetuity and virtually
owned by the Delaware & Hud. Canal Co., which guarantees the bonds,
and has $3,921,026 invested in it. The stock is $4,000,000; par, $100.
From July 1, 1890, to March 31,1891 (9 months), gross earnings
were -$807,712, against $780,491 in 1888-89; net, $205,173, against
$339,292; deficit under charges $22,730, against surplus of $114,374.
In year ending June 30,1890, gross, $1,114,870; net, $391,757. (V. 50,
p. 245, 707; V. 51, p. 207, 681; V. 52, p. 280, 762.)
N e w Y o r k C e n tra l & H u d s o n B i v e r . —(See Map)—Owns
from New York City to Buffalo, N. Y., 442 miles; branches on N. Y.
Central division, 377 miles; total owned, 819 miles; lines leased—West
Shore RR. 426 miles, and branches, 22 miles; Troy & Greenbush, 6 miles;
Spuyten Duyvil & Port Morris, 6 miles; New York & Harlem, 136 miles;
New Jersey Junction, 5 m iles; total, 688 miles; grand total, 1,421 miles.
The second track owned and leased is 897 miles; third track, 319 miles;
fourth track, 297 miles; turnouts, 907 miles—making a total of 2,607
miles of track owned by the company and 1,233 miles leased, 3,841
miles in all. Also operates the Dunkirk Allegheny Valley & Pittsburg
Railroad, 104 miles, reported separately.
InJan., 1891, leased the Beech Creek RR. (which see) 131 miles, and in
March, 1891, leased the R. W. & Og. RR. (which see), 643 miles.
In April 1891, a traffic arrangement was made with the Canadian
Pacific RR. Co., by which that company upon the completion of a new
bridge over the St. Lawrjpce at Brockville, Canada, will run its trains
to New York City over lira West Shore tracks. See V. 52, p. 534.
O r g a n i z a t i o n , &c.—This company was formed by a consolidation of
the New York Central and the Hudson River railroads October 1,1869.
The New York Central was a consolidation o f severalroads under a spe­
cial law of April 2,1853. The Albany & Schenectady Railroad, opened
September 12,1831, as the Mohawk & Hudson, was the first railroad
built in the State of New York. The West Shore Railway was leased in
December, 188.5, for 475 years. The Rome Watertown & Ogdensburg
was leased in perpetuity in March, 1891, its debt being assumed and 5
per cent guaranteed on its stock. See V. 52, p. 463. The Beech Creek
RR. (which see) is leased for 999 years and 4 per cent guaranteed on
its stock and bonds. See V. 52, p. 570.
S t o c k a n d B o n d s .— The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868,
and on the consolidation with the Hudson River Road (November 1,
1869,) a further dividend of 27 per cent was distributed on the New
York Central stock and 85 per cent on the Hudson River stock. In No­
vember, 1879, 250,000 shares ($25,000,000) were sold to a syndicate of
bankers by Mr. W. H. Vanderbilt at the price of 120, and 100,000 shares

»

BONDS
AND
STOCKS
KAILKOAD
■ ay, 18q i
M
!



96

INVESTORS’

SUPPLEMENT.

[V

ol.

LU.

Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
pal,When Due_
Amount
Por explanation of column headings, &c., see notes of
of
Pair
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds V alue.
Cent. Payable
Whom.
Dividend.
New York Central & Hudson River—Stock...............
Debt certificates (N. Y. Central) ext. 10 y ’rs 1883
N. Y. C. & H., ( $30,000,000 )
_
<
m o rtg a g e ...! £2,000,000 j coupon or reg. |
Debentures (to be included in any new mort.).c&r
Debentures for $15,000,000 g., s. f. not dr’n. .c&r
N. Y. Chicago &St. Louis—1st pref. (5 p. c. non-cum.)
1st mortgage gold, sinking fund not drawn...... c*
N. Y. (6 Greenwood Lake—1st and 2d mort., income
N . Y. & Harlem—Com. and pref.stock, 8 p.c.,N.Y.C.
Consolidated mortgage, coupon or registered. _c*
N. Y. Lackawanna < Western—Stock, guar. 5 p. ct.
6
1st mortgage.......................................................... c*
2d mortgage, guar, by Delaware Lack. & West.o*
Terminal Improyem’tmortgage, (for $5,000,000).
New York Lake Erie < Western—Stock, common___
&
Preferred stock, not cumulative.............................
N.Y. &E. 1st M.,Piermontto Dunkirk,N.Y.,ext.c*
2d mortgage, gold (extended in 1879)............c*
3d mortgage, gold (extended in 1883)............c*
4th. mortgage, gold (extended in 1880)...........c*
5th mortgage, extended in 1888 at 4 p. c., gold.o*
Erie R’y ,ls t M.,Buffalo Br. Hornellsv. to Attica.c*
1st consolidated mortgage, gold, $ & £ ..........c*
N. Y. Lake Erie & West, funded coupon bonds.c*
1st lien mortgage, sinking fund not drawn, g.c*
2d consolidated and funded coupon bonds__ c*
Collateral trust bonds, g., s. f. drawn at 110..c*
Funded coupon bonds, g. (red. at 105 & int)..c*
Income bonds (non-eumulative)..........................

.\ .
840
840

513
40
151
132
214
200
200

$100
1853 500 &c.
1,000
1873
1,000
1873
1884-9 l,000&c
1890 l,000&c
100
1,000
1887
1878 100 &c.
50
1,000
1872
100
1,000
1880
1,000
1883
1890

Too

446
446
446
465
465
60
526
526
534

1847
1879
1853
1857
1858
1861
1870
1878
1878
1878
1882
1885
1878

100
1,000
1,000
1,000
1,000
500 &c.
100 &e.
1,000
500 &c.
1,000
500 &c.
1,000
1,000
300 &C.

sold afterwards. Under the lease of the West Shore Railway $50,000,000
o f 4 per cent bonds were guaranteed and $10,000,000 West Shore stock
taken as consideration.
Dividends.—From 1869 to 1884, inclusive, 8 per cent per annum; in
1885, 3*2 per cent. From . 1886 to 1889, inclusive, 4 yearly; in 1890,
4 ^ ; in 1891, January 15 ,1 and *2 extra; April 15,1.
Price of stock—In 1 8 8 0,122®1553s; in 1881, 130%®155; in 1882,
12358®138; in 1883, l l l 1
2®129i8; in 1884, 83^2® 122; in 1885, 81%®
107%; in 1886, 98%®1173s; in 1887, 101%®11458; in 1 888,102%®111;
In 1889, 10478®1101 in 1890, 95%®111; in 1891, to May 22
2;
inclusive, 99I«,®104L>.
Operations, F inances, &c.—The New York Central & Hudson River
Railroad has an exceptionally rich local traffic, but the profits also de­
pend very much upon harmony among the trunk lines.
For nine months ending March 31 earnings, etc., were as follows,
including the Rome Watertown & Ogdensburg since March 15,1891:
NINE MONTHS ENDING MARCH 31.
1889-90.
1890-91.
Gross earnings...... ...............
27,850,234
Operating expenses.............. (65-75%)18,310,689

27,514,866
(67-23%) 18,498,943

$89,428,300
6,450,000
30,000,000
9,733,333
11,000,000
8,500,000
5.000,000
19,681,000
2,700,000
10,000,000
12,000,000
10,000,000
12,000,000
5,000,000
2,850,000
77,404,900
8,536,600
2,482,000
2,149,000
4,617,000
2,926,000
709,500
182,600
16,891,000
3,705,977
2,500,000
33,597,400
3,458,000
4,029,840
508,008

1
5
7
6 g.
5
4 g.
3%
4 g.
6
2%
7
1%
6
5
4

Q .-J . N. Y., Gr. Cent’l Depot.
M. & N.
do
do
J. & J.
do
do
J. & J. London, Union Bank.
M. & S. N. Y., Gr. Cent’l Depot.
J. & D.
do
do
do
do
A. & 0. N. Y., Union Trust Co.
F. & A.
None paid.
J. & J. N. Y., Gr. Cent’l Depot.
M. & N.
do
do
Q .-J . N. Y., by Del. Lack.& W.
J. & J.
do
do
F. & A.
do
do
M. & N.
do
do

6
7
5 g.
4%g.
5 g.
4 g.
7
7 g.
7 g.
6 g.
6 g.
6 g.
5 g6

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

&
&
&
&
&
&
&
&
&
&
&
&
&

N. Y., 21 Cortlandt St.
N.
do
do
S.
do
do
S.
do
do
O.
do
do
do
do
D.
J.
do
do
S. New York and London.
S.
do
do
N.
do
do
D.
do
do
N.
do
do
D.
do
do
D. Paid 6 p.c. Jan. 15,1891

Apr. 15,1891
May 1, 1893:
Jan. 1, 1903Jan. 1, 1903Sept. 1, 1904June 1, 1905
Mch. 2, 1891
Oct. 1, 1937
Nov. 30,1903Apr. 1, 1891
May 1, 1900*
Apr. 2, 1891
Jân. 1, 1921
Aug. 1, 1923
May 1, 1923:
Jan. 15,
May 1,
Sept. 1,
Mch. 1,
Oct. 1,
June 1,
July 1,
Sept. 1,
Sept. 1,
Dec. 1,
Dec. 1,
Nov. 1,
Dec. 1,
June 1,

1884
1897
19191923
1920
1928
1891
1920
1920
1908^
1969
1922
1969
1977

N ew Y o r k Sc G reenw ood L a k e .—Owns from Jersey City, N. J>r.
to Greenwood Lake, 48 miles; branch to Ringwood, 2 m iles; total, 50
miles. The New York Lake Erie & Western controls and operates it..
The holders of the second mortgage of $1,800,000 have a right to pay.
off the first mortgage bonds of $900,000 at 105. Stock, $100,000..
Due for advances December 31, 1889, $282,000. Gross earnings in
1889, $246,403; deficit on operations, $4,900, against $10,474 in 1888Abram S. Hewitt, President. (Y. 50, p. 8 7 3 .)
N ew Y o r k Sc H a r le m .—Owns from New York City to Chatham,..
N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston &
Albany Railroad is used. This company owns the Fourth Avenue streetrailroad. The property (except the horse railroad) was leased April 1,.
1873, for 401 years to the New York Central & Hudson River Railroad;
at 8 per cent dividends on the stock and the interest on the bonds. The
preferred stock is $1,361,350; balance, common. The Fourth Avenuehorse railroad has paid dividends annually in April, viz.: From 1882 to
1889, inclusive, 2 per cent yearly; in 1890 and 1891, on April 1, 2*2;
per cent. All operations included in New York Central & Hudson. (Y 51, p. 494.)

N ew Y o r k L a ek a w a n n a Sc W e ste rn .—(See Map o f Delaware
Lackawanna < Western.)—From Binghamton to Buffalo and Interna­
6
9,015,923 tional Bridge and branches, 214 miles; Delaware Lackawanna & West­
ern has a lease for 99 years, giving a guaranty of the bonds and 5 p er
6,381,250
(3%) 2,682,849 cent yearly on the stock (endorsed on the certificates). In 1890 a mort­
gage for $5,000,000 4s was authorized to reimburse Delaware Lacka­
Balance.............................
sur. 500,434
def. 48,176 wanna & Western for advances. In 1890 gross, $8,087,853; net, $4,-„
125,894, against $3,562,344 in 1889. (V. 50, p. 703.)
Year ends June 30. Report for 1889-90 in Y. 51, p. 437, 455.
N ew Y o r k Lake Erie Sc W e ste rn .—Main line Jersey City to
EARNINGS AND EXPENSES.
miles, with branches 581
1888-89
1889-90. Dunkirk, N. Y., 460Y., to Dunkirk, 446 miles; miles;.total 1,041 miles..
Owns Piermont, N.
branches—Newburg, 19
Gross earnings...............................................$35,441,096
$37,008,403 miles; Buffalo, 61 miles; Newburg & New York Railroad, Vails & Gate
Operating expenses, including ta x e s ........ 23,885,801
24,492,130
Junction to Greenwood Junction, 13 miles; small lines (stock owned),.
total
miles. Leases—Jersey City to
$12,516,274 10 miles; small owned, 549 miles; Jefferson Railroad, 45 Sufferns, N. Y.
Neteam ings....................................................$11,555,295
(several
roads), 31
miles; Buffalo
Per c’t. of operating expenses to earnings.
67-39
66-18
Bradford & Pittsburg, 26 miles; Buffalo New York & Erie, 140 miles; Sus­
pension Bridge & Erie Junction, 24 miles ; Rochester & Genesee Valley,.
INCOME ACCOUNT FOR 1889-90.
18 miles; Avon Geneseo & Mount Morris, 18 miles; Buffalo & South­
Receipts—
$
Net earnings........................ ......................... ..
12,516,274 western, 66 miles; Northern of New Jersey, 26 miles; other small lines,
Rebate on State tax of prior years....................................
111,030 98 miles; total leased, 492 miles; total New York Lake Erie & Western,
1,041 miles. Also leases New York Pennsylvania & Ohio and branches,.
Total incom e........................................................
12,627,304 596 miles, and owns the entire stock of the Chicago & Erie, running from
Marion, O., to Hammond, Ind., 249 miles, ana leasing trackage overr
Disbursem ents—
Rentals p a id ...............................................................................
4,053,393 the Chicago & Western Indiana, 19 miles, to Chicago.
Interest on debt......................................: ...................................
3,590,535
Organization , L eases, &c.—The New York & Erie Railroad wasTaxes on earnings and capital stock................
209,884 chartered April 24,1832, and opened to Dunkirk April 22,1851. Re­
Dividends (4J per cent).......................... .*...............................
a
4,024,273 organized as Erie Railway Company in 1861, and sold under the second
consolidated mortgage in 1878; reorganized as at present June 1,1878.
Total disbursements............................................................ 11,878,085 The Long Dock Company has stock of $800,000, all owned by the New
Balance, surplus........................................................................
749,219 York LakeErie & Western; its property consists of lands and lands under
&c. The New York Lake
—(V. 50, p. 7, 206, 391, 669, 834; V. 51, p. 21,143, 43 7 , 4 5 5 , 458, 646, water, about 577 acres, with piers, buildings, an auxiliary corporation'
Erie & Western Coal & Railroad Company is
876, 910; Y. 52, p. 203, 463, 534, 643, 796.)
from which advances of $1,121,917 are due, as per balance sheet o f
N e w Y o r k Chicago Sc St. L o u is.—(See Map o f New York Cen­ Sept. 30,1890; in August, 1890, $3,000,000 of its bonds were guaran­
tral & Hudson River.)—Owns from Buffalo, N. Y., to Illinois State Line, teed principal and interest (by endorsement on bonds), the property
512 m iles; leases in Buffalo, 1*2 miles; Illinois State Line to Chicago, 9 being leased till July 1,1925, at a rental equal to that interest. See V..
m iles; total, 523 miles.
51, p. 752, and description of property in V. 52, p. 642.
The former Railway Co. was formed in 1881 and became known as
In the reorganization of the Chicago & Atlantic (now Chicago & Erie).,
the “ Nickel Plate.” Sale in foreclosure took place May 19,1887, and there were issued $12,000,000 4-5 per cent 1st mortgage bonds, interest
the present company was formed in September, 1887. The 1st preferred on which is guaranteed, Erie receiving for debts due and in
stock is for $5,000,000, and has a 5 per cent preference, non-cumulative, consideration of guarantee $2,000,000 of these lsts, $5,000,000 in­
and the preferred stock for $11,000,000 has next preference for 5 per comes and all the $100,000 stock. See Chronicle , V. 50, p. 621> 752;
cent, non-cumulative; common stock is $14,000,000; par of all, $100. Y. 51, p.911. Road was turned over to Erie on September 1,1890.
Lake Shore & Michigan Southern owns $6,240,000 common, $6,275,000
Stock and B onds.—Preferred stock has a prior right to 6 percent
2d preferred and $2,503,000 1st preferred stock. A sinking fund of
$100,000 per year is provided when the net earnings are $900,000 or (non-cumulative) from the net profits, “ as declared by the board of
directors,” but the U. S. Supreme Court held in 1886 that this stock ha»
upwards, if bonds can be bought at or below 102; if not, the sinking
fund lapses for that year, thus leaving $100,000 more for dividends. no legal right to claim a dividend, though net earnings are sufficient.
Dividends since 1876—On preferred stock from 1882 to 1884, in­
The original issue of bonds was $20,000,000, and it has been reduced
to present amount by the sinking fund purchases. See abstract of clusive, 6 per cent—none since.
Price of common stock—In 1880, 30® 51V, in 1881, 39%®527s; in
mortgage (Central Trust Co. of New York, trustee), V. 45, p. 541.
1882, 33%®43%; in 1883, 2678®4078; in 1 8 8 4 ,1 1 ^ 2 8 % ; in 1885, 9%
Dividends—On first preferrred: In 1891, March 2, 3*2 per cent.
@2778; in 1886, 221
a®3838; in 1887, 243
2®3558; in 1888, 22%@30%;
From January 1 to March 31, 1891 (3 months), gross earnings were
$1,570,946, against $1,414,488 in 1890; net, $350,630, against $342,042; in 1889, 253s® 3078 ; in 1890,16®29ie; in 1891, to May 22 inclusive..
17%®221
2.
.surplus over charges, $98,545, against $90,723.
Price of preferred stock—In 1880, 47®931 ; in 1881, 801
e
^®961 in
2;
Report for year was in Chronicle, V. 52, p. 760.
1882, 67®88%; in 1883, 72®83; in 1884, 20® 71; in 1885,18® 57; in
1888.
1889
1890.
1886, 501
2®811 in 1887, 59®76; in 1888, 52%®67*2; in 1889, 61®
2;
4.
Gross earnings.......................... 4,918,217
5,090,329
5,820,306 71%; in 1890, 46®69%; in 1891, to May 22, inclusive, 48%®56:I
The Erie Railroad Buffalo branch first mortgage bonds, due July 1.,
Total net income................
810,813
1,092,175
1,154,828 1891, will be either purchased at par or (at option of holder) extended
Deduct—
till July 1,1931, at 4 per cent, payable in gold.
Interest........................
778,240
791,680
784,570
The first lien bonds of 1878 have an accumulative sinking fund of
Rentals.......................................
81,416
81,139
87,685 $100,000 yearly and might be drawn, but the company “ has decided
Sinking fund.............................
100,000
99,954
93,748 that redemption shall be by purchase only.”
Dividend (3%) on first pref. ..
175,000
The first consolidated funded coupon bonds are secured by lien of con­
the second consolidated mortgage (Farmers*'
.959,656
972,773
1,141,002 solidated mortgage. Ontrustee) no foreclosure can take place till six
Loan & Trust Company,
Balance............................... def.148,843
sur.119,402 sur.$13,826 successive coupons are in default, but all of one coupon must be paid
—(V. 49, p. 68 9; V. 50, p. 245, 707, 769; V. 51, p. 143, 240, 715; Y. 52, before any part of a subsequent coupon is paid. In 1883 the collateral,
j>. 203, 280, 760, 796.)
trust bonds were issued (the United States Trust Company, trustee; see
Net earnings..................
9,539,545
First charges.........................
5,909,121
Dividend..................... ; ......... (3-50%) 3,129,990




RAILROAD

May , 1891.J

STOCKS

AND

97

BONDS.

Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f any error discovered. In these T a bles.
_____ Princi­
INTEREST OR DIVIDENDS.
pal,When Due.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Value.
Road. Bonds
on first page of tables.
New York Lake Erie <è Western—( Continued.)—
Car trust bonds, ser. C. to G. incl., partpd. ann.c*
N. Y. Car trust, 1888, ser. Ax (guar. by D. & H .)..
Long Dock Co. 1st mortgage..........................- - - -o
Consol, mort., gold ($7,500,000) red at 1 10 ...c
Newburg & N. Y. 1st mort., extended in 1889..c*
N. Y. L. E. & W. Coal &RR. 1st M. gu.,endorsed.c*
N. Y. L. E. & W. Dock & Imp. Cd. 1st mort.......c*
N. Y. &Massachusetts—) stmort, (for $2,750,000)..
N. Y. < N. England—Stock ($20,000,000 authoriz’d)
&
Preferred stock, 7 per cent cumulative.................
1st mortgage ($6,000,000 are 7s). . . . . . . . . - - - - - - - -2d M.,part scaled ($998,000 are 5s till Feb.,1892)
Boston Terminal 1st mortgage.................. -........c
Rhode Id. & Mass. 1st mort for $1,500,000 guar.
Few England Equipment Co. 1st mort., gold... .c
New York New Haven < Hartford—Stock.............
&
1st mortgage (for $5,000,000) ............. --...........
Harlem & Portchester, leased, 1st mort, guar.c&r
2d mortgage, guar............................. ............. c&r
New York & Northern—1st mortgage, gold - .......... c
2d mortgage, gold (income till pec., 1 8 9 1 )..---.. c
New York Ontario < West.—1st M., g. (red. at llO ).c
£
Consol. M. ($10,000,000) g.,red. at 105 i n ’99.. c
New York Penn. & Ohio—Prior lien, gold, $ & £ . . c
1st mort., gold (no foreclosure till 1895) $ & £.c*
2d mortgage, incomes, $ & £ ...............................
3d mortgage, incomes,
........ - - - - - - - - - - ®
Equip, trust bonds, sink, fund 3 p. c. (dr n at 100)
Equip, trust bonds, sink, fund 3 p. c.(dr n at 100)
Deferredint. warrants, conv. into 1st M. bonus..
F e w Castle & Shenango Valley, 1st M., int. guar.
Sharon (leased) 1st mortgage, gold.......................e

12
113
321
321

$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1,000
1876
1,000
1882
1889
1890

123
12
12
57
57
320
320
437
437
437
437

1883
1873
1881
1887
1887
1884
1889
1880
1880
1880
1880
1888
1890
1887
1889

“ 460,000
18.700.000
2.000.
000
2,000,000
1,000,000
1.200.000
3.200.000
3.444.000
5.600.000
8,000,000
44.318.000
14.500.000
30,000,000
£225,300
£250,000
$14,333,841
250.000
164.000
1,000

1,000
100
l.OOO&c
1,000
1,000
1,000
1,000
1,000
$ or £
500 &c.
500 &c.
500 &c.
500 &c.
£100
£100

V . 38, p. 509), redeemable at 110 on three months’ notice. The second
•consolidated funded coupon bonds of 1885 were is s ^ d to fund three
past-due coupons and the coupon of June, 1886, the coupons berng d^«Dosited as security. These honds are redeemable at any tini© at 105 and
Accrued f f i t e S yThe Long Dock mortgage for $7,500 000 was issued
in 1885 ($3,000,000 being reserved to meet the old bonds), ana the
“bonds are payable at 110 from land sales.
.. . .
The N. Y. L. E. & W. Coal & RR. Company’ s bonds were described in
V. 52, p. 642. See also above under “ Organization, Leases, etc.
F i n a n c e s . E a r n i n g s , E t c .— On April 1,1891, company’ s gross floati n ^ e b t (inkudhig charges accrued etc.) was ^ ^ 4 2 ,2 6 8 ; bins receivnbift and cash *3.547,590; net floating debt, $3,594,678 (against
$4,061,560 April 1, 1890). Other assets—Supplies, $1,055,817; paidon
in moment account, $4,107,890; advances to other companies (Chi< agoP& 6
5
Erie, etc.), $5,156,489; total other assets, $10,320,196, against
’October^!h o March 31 (6 months) in 1890-91 gross earnings
1
w S “ l4?22?759, against $13,926,793 in 1889-90 ; net, $4 642,651,
against $4,752,183; net, less proportion due roads operated on a
pfreentage basis, $3,379,500, against $3,473,646; surplus over
charges was $179,426, against $420,039 m 1889-90.
The annual report for year ending September 30,1890, was Published
in the C h r o n i c l e , V. 51, p. 734, 747. The gross earnings mclude the
New York Pennsylvania & Ohio and all the leased lines.
1887-88.
1888-89.
1889-90.
Total gross earn ings.......................2Z’?oZ’?™ 27,004,406 29,068,935
2,614,101
2,409,133
Proportion paid leased lines............ 2,38o,i7U
Leaving as gross reven ue................ 24,832,819 24,595,273 26,454,834
Total operating expenses................ 18,003,469 17,854,425 19,505,951
Net earnings............. - ................... - • 6>829,350
P. c. oper. exp. to total gross earn’ s. 66-1454

6,740,848
fab llb 7

6,948,883
67-1024

COMPARATIVE STATEMENT OF PROFIT AND LOSS.

1887-88.
N ^ earnings............
Pavonia ferries earnings.......
Interest on securities.............
Other credit item s..................

6,829,350
305,2^0
391,897
240,719

1888-89.
$
6,740,848
343,758
432,656
300,090

(1)
0)
$3,000,000
4.500.000
250.000
1.100.000
4.000.
000
m
19.777.000
2.700.000
10,000,000
5.000.
000
1.386.000

1888
1863
1885
1868
1882
1883
1888

1889-90$
6,948,883
360,557
454,589
274,870

Various N. Y., 21 Cortlandt St 1900, ’02, ’ 05
$63,000 Jan. 1
do
do
J. & J.
June 1, 1893
do
do
J. & D.
Oct. 1, 1935
do
do
A. & O.
Jan. 1, 1929
do
do
I. & J.
May 1, 1922
do
do
M. & N.
July 1, 1913
do
do
J. & J.
1938
A. & O.
M. '&
&
&
&

N. Boston,Of.,244 Fed’l St. May
J. Boston, S. Dep. & Tr. Co. Jan.
A. Boston, Treas’r’s Office, Aug.
Apr.
do
do
O.

Ï,
1,
1,
1,

1891
1905
1902
1939

’
F. * A. Boston, ÓidCoiony Tr.Co Aug.", "91 to ’97
Q .-J . New Haven, Co.’s Office. Apr. 2, 1891
J. & D. N. Y., Chem’ al Nat. Bk. June 1, 1903
Oct., 1903
do
do
A. & O.
June 1, 1911
do
do
J. & D.
N. Y., Office, 32 Nassau Oct. 1, 1927
A. & O.
J. & D 1st coup, due June ’92 Dec. 1, 1927
M. & S. N.Y., Office, 18 Exch. PI Sept. 1, 1914
N. Y. ____
J. & D.,_____ Office & London, June 1, 1939
M. & S. N. Y., Farm. L. & Tr. Co. Mch. 1, 1895
July 1, 1905
London.
J. & J.
May 1, 1910
None paid.
M. & N.
May, 1915
None paid.
M. & N.
May 1, 1908
London,
M. & N.
June 1, 1910
do
J. & D.
J.' & ‘ J. N. Y., Farm. L. & Tr. Co
do
do
J. & D.

Juiÿ 1, 1917
June 1, 1919

®53i4; in 1889, 411
8®531 ; in 1890, 28®52*4; in 1891, to May 22»
s
^From January^" to March 31,1891 (3 months), gross earnings were
$1,345,770, against $1,285,678 in 1890; net, $383,889, against
$401,789; deficit under charges, $58,414, agamst $15,681.
Fiscal year changed to end Dec. 31. Annual report for year ending
December 31, 1890, in C h r o n i c l e , V. 52, p. 389. In the following
the figures for 1890 are for the calendar year, the others for years end­
ing September 30.
INCOME ACCOUNT.

1890.
1886-87. 1887-88. 1888-89.
488
488
405
490
Miles operated................ , $
$
R c& iyts
& i/
$
6,029,125
Total gross earnings...........4,151,917 5,268,408 -5,563,408
2,007,857
1,844,575
Net earnings.........................1>898,175
9,301
3,699
Other receipts.....................
65,768
5,043
Total income............... 1,463,943 1,752,859 1,848,274 2,017,158
Disbursements—
$
410,793
383,272
Rentals paid............
66,636
353,744
Interest, etc........................ 969,620
999,238 1,013,133 1,043,384
283,800
251,640
Taxes . ! . ! ..................... . ...
163,566
229,010
170,341
189,000
7 p. c. div. on pref. stock.. 135,975
139,416
Total disbursements... 1,335,797 1,721,408 1,818,386 1,926,977
90,187
Balance, surplus................ 128,146
31,451
29,888
_ (Y 49 T 145. 301, 401, 758; V. 50, p. 174, 206, 245, 622, 669; V. 51,
,
p.142, 206, 4 5 8 ,6 0 8 ? 681, 910; V. 52, p. 40, 350, 3 8 9 , 428, 761, 796.)
N e w Y o r k N e w H a v e n & H a r t f o r d .—Owns from Woodlawn,
N Y to Springfield, Mass., 123 m iles; branches to New Britain, Middletown and Suffield, etc., 18 miles; total owned, 141 m iles; leases—Shore
Line Railroad, 48 miles; Boston & New York Air Line and branch, 55
miles; New Haven & Northampton Railroad, New Haven, Conn., to
Conway Junction, Mass., and branches, 137 miles ¡ Naugatuck Railroad,
Naugatuck Junction to Winsted, Conn., and branch, 61 miles ¡ Hartford
& Connecticut Valley, Hartford to Fenwick, Conn., 46 miles; otter lines,
29 miles; total leased, 367 m iles; total operated, 508 miles. The com­
pany uses the New York & Harlem Railroad from Williamsbridge into
New York City and pays a large rent therefor. . . .
' __
Dividends of 10 per cent have been paid regularly since consolidation

Price of stock—In 1885,175®204; in 1886, 204*2®223; in 1887, 208
8,038,899
7,178,644 ®233; in 1888, 215®244; in 1889, 241®279; in 1890, 244*2®270; in
1891, to May 22, inclusive, 226®271,
. . . .
^
Stock authorized, $50,500,000. It may be issued for improvements,
sur.774,776 sur.860,254
Balance................................sur.738,843
buying stocks and bonds of leased roads, &c. (V. 48, p. 688). in 188»
—(V 50 n. 484, 621, 706, 801; V. 51, p. 206, 207, 569, 734, 7 4 7 , stock was increased to $18,600,000. In January, 1891, it was an­
7 4 9 , 788, 909; V. 52, p. 280, 390, 642, 681, 762.)
nounced that the stock would be increased on October 1,1891, by thn
par to
stockholders of record
N e w Y o r k & N e w E n g la n d .—Owns from Boston, Mass., to issue of 46,750 shares at a share the July 1 and $50 a share on March
on
on Octo­
Honewell Junction, N. Y., 215 miles, (and thence has trackage via the 31, who pay for it $50
Few burg Dutchess & Connecticut to a connection with the New York ber 1. The new stock will not participate in any dividends payable
■Central & Hudson River Railroad at Fishkill, 13 miles) Providence, R. P1From JulyU
l,ri890^to March 31,1891 (9 months), gross earnings were
I to Willimantic, Conn., 59 miles; branches, Newton, Mass., to
$7,901,419 in 1889-90; net, 2>
57\’+ 1 S § ai2 n
6l \
Woonsocket, R. L, 28 miles; East Thompson, Conn., to Southbndge, $8,487,778) against ov©r fixed charges, $1,477,454,*agamst $1,588,490*'
$2.614,298; surplus
Mass., 17 miles; East Hartford to Springfield, 28 miles; other small
Fiscal year changed to end June 30. Report for nine m°^lhs
branches, 13 miles; total owned, 360 miles. Leases—Rhode Island &
p. 456. Reports to New York State
Massachusetts, Franklin to Valley Falls, 14 miles ; Vernon to Rockville, June 30,1890, was in V. 51,following for years ending June 30. Railroad
4 miles ; Franklin to Ashland, 20 miles ; Norwich & Worcester RR. Commissioners showed the
<which see), 66 miles; Providence & Springfield (which see), 26 miles,
EARNINGS, EXPENSES AND CHARGES.
and Woonsocket & Pascoag, 11 miles ; total leased, 141 miles ; also has
1888-89.
1889-90.
running arrangements over 24 miles more. Total, 525 miles. Controls
$10,094,487
$10,749,167
Norwicn & New York Steamer Une. In March, 1891, leased for 99 Gross earnings.....................................
years the Providence & Springfield, which, with the Woonsocket & Total net income................................................ $3,146,931
$3,518,776
IPascoag Railroad, it began to operate April 1,1891. See V. 51, p. 142 ;
Interest, rentals and taxes.............................
I’t l o ’ ooo
^ l’705’000
^The former Boston Hartford & Erie Railroad became insolvent and Dividends (10 per cent).................................... ^ 1,550,000
1,705,000
was succeeded by this company, formed in 1873. From January 1,
1884 to -T
a.Tnm
.rv 1, 1886, the road was in the hands of a receiver.
Total
. . . . . . . $3,020,287
$3,320,766
In March, 1891, it was agreed to guarantee $1,500,000 bonds of the
u
r
p
l u
s
. ................
$126,644
$198,010
Rhode Island & Massachusetts Railroad, to be issued for double-track­ s
ing and extending the line to Providence, to guarantee $1,000,000 __(V . 50, p. 245, 736; V. 51, p. 304, 4 5 6 , 494, 681; V. 52, p. 121, 280
Providence & Springfield bonds and to lease the Woonsocket & Pascoag 707.)
Railroad. See V. 50, p. 735, and V. 52, p. 350, 428.
N e w Y o r k & N o r t h e r n .—Owns from 155th Street and 8th Ave.
Trustees of 1st mortgage are Boston Safe Deposit & Trust Company; of
2d mortgage W. T. Hart, E. C. Fitz and F. J. Kingsberry. Stock is re­ nue, New York City (connecting with Metropolitan Elevated), to
track branch
^
served for $223,000 convertible Boston Hartford & Erie Berdell bonds. Brewsters, N. Y.,3 54 miles; double m iles; total, 61 miles, xh e^iew
to Yonkers, miles; operates 4
Of the 2d mortgage bonds $998,000 bear 5 per cent to February, 1892, landt City & Northern was sold m foreclosure August 17,, 18ST7,in e JNew
York
and tote
and 6 for balance of term. There are also $362,625 real estate mort­ company was organized wlth common ^ o ^ of $3,^,0CK ) a n d ^ n ^
gages and contract obligations.
cumulative preferred 5 per cent stock of $6,000,000, P&
r>
,r
K The New England Equipment Company’s bonds are not guaranteed,
but they are secured by a first lien on certain equipment costing teeof 1st:mortgage is Central Trust Co.; of 2d mortgage, Farmers’ Loan
$485,000, and by $460,000 notes of the N. Y. & New England Railroad
-rvUrmaTiv The bonds mature as follows: From August 1, 1891, to * Fiscal year will hereafter end June 30. From July 1,, 1&90, to March
31 1891 (9
August i , 1894, $25,000 yearly; August 1,1895 and 1896, $100,000 in 1889-90; months), gross earnings were $351,038, agamst $4=3U,33U
net, $62,770, against $77,280.
__
_ „ Q.
-yearly; August 1,1897, $160,000.
. . .
For year ending September 30,1890, gross earnings were $536,769»
~ Dividends on preferred stock have been 7 per cent yearly smee its net?$89,338 ¡ interest paid, $60,000; taxes $15 200 - construction ac­
3
toM o e o fco m m o n stock: In 1883, 17* 52 *4 ; in 1884. 8®17*2 ; in count, ¿tc., $14,689.—(V. 50, p. 244; V. 51, p. 458, 681, 7 1 4 ; V. 53.
2®
3.885,121
s®39% ; in 1886, 30*2®685s; in 1887, 34%®66; in 1888, 29*2 p. 239, 707.)
Total credits..................... - • 7,767,191
Total debits.................
7,028,348




7,817,352
7,042,576

INVESTORS’
SUPPLEMENT.




.RAILROAD

M a t , 1891.]

STOCKS

AN D

BONDS.

99

Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a bles.
RAILROADS.
on first page of tatoles.

N. Y. Phila. t§ Norfolk—1st M., g., $16,500 p. m. .c1
Income M., non-cumulative, $10,000 per m ile.. j
N. Y. Providence < Boston—(Stonington)—Stock__
&
First mortgage, Providence to Stonington........c’
1st mortgage (Stonington to New London)........ &
N. Y. a Rockaway Beach—1st M.,g.,end’sed toy L. I.c’

Bonds—Brìnci»
INTEREST OR DIVIDENDS.
Size, or
pal, When Due.
Amount
of
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
RoacL Bonds •
Value.
Cent.
Whom.
Dividend.
112
112
141
50
12
11

N. T. Susquehann<6 Western—1st M.,g..Mid.of N.J.c
73
1
1st M., Paterson Exten. and real estate, g ........ c
134
1st mort., refunding, gold (2d M on 73 miles). .0’
2d mort. ($1,000,000 gold) 3d M. on 73 miles.. .c’ 134
134
General mortgage for $3,000,000, gold...............o’
N. Y.Texas dkMex.—1st. M.,g.,$or £,gu.by So.Pac.c’
91
N orfolk a Carolina—1st mort. for $1,500,000, g .c 5 110
N orfolk Southern—1st mortgage, gold................. cs
74
74
2d mort., detoen., sink, fund loaa prior to income, c
74
2d mortgage income (not cumulative)........ J... c*
Funded inf. toonds ($270,000 secured toy coup’s)o*
N orfolk a Western—Stock ($31,500,000is 6 p. c. pf.)
Norf’k &Petersto’g—2dM. (now 1st) Nor.to Pet’g .c
8Í
South Side—Consol, mort., 1st pref., extended, .c 133
Consol. M. 2d pref., gold, extended................... c 133
Consol. 3d pref., Peterstourg to Lynch. & tor’s
133
214
Virginia < Tenn. enlarged M. (extend in. 1884)
fc
4th M. Lynchb’g to Bristol and branch, 214 m.c 214
Norf.«fe West. GenM.,Norfolk to Bristol, etc. g .. . C
428
New River division 1st mortgage, gold..........c1 155
583
Improv. < Ext. Mortgage, gold........................ e'
fe
AdjustmentM., g. (red’ble afterOct.’94 at 110)c’ 583
Clinch Valley Div. 1st M., gold, $19,000 p. m C 105

1883
1883
1869
1881
1887
1887
1880
1881
1887
1887
1890
1882
1889
1880
1881
1881
1884
1868
1868
1868
1868
1854
1866
1881
1882
1883
1884
1887

$1,000 $1,848,000
6 g. J. & J. Phila., Penn. RR. Office.
1,000
1,000,000
6
do
do
100
5,000,000
2^2
Q.—F. N. Y., Central Trust Co.
1,000
1,000,000
7
J. & J.
do
do i1,000
300,000
4
A. & O.
do
do
1,000
772,000
5 g- M. & S. N. Y., Corbin Bank’g Co.
1,000
1,000,000
5
500 &c.
3,500,000
6 g. A. & O. N. Y., Nat. Park Bank.
1,000
250,000
6 g. J. & D. N.Y.Of.,15 CortlandtSt.
1,000
3,750,000
fe
5 g. J. < J. N. Y., Nat. Park Bank.
1,000
636,000
4hig. F. & A. N.Y.Of.,15 CortlandtSt.
1,000
700,000
do
do
5 g. F. & A.
500
fe
1,457,500
4 g. A. < O. N.Y..S.Pac.Co.; London.
1,000
1,320,000
5 g- A. & O. N. Y., Central Trust Co.
1,000
900.000
6 g. M. & S.
1,000
250.000
6 S A. & O.
1,000
1,000,000
6
Yearly.
300
345,000
6
Yearly.
100 41,000,000 1*2 onpf. A. & O. Phila., 333 Walnut St.
1,000
496,000
J. < J.
fc
do
do
8
1,000
290,000
5 & 6 J. & J.
do
do
100 &c.
fe
270,500 5 g .& 6 g. J. < J.
do
do
100 &c.
452,800
J. & J.
do
do
6
1,000
J. & J.
do
do
980,000
5
1,000
1,000,000
J. & J.
do
do
8
1,000
7,283,000
6 g. M. & N. N.Y., Cent.Tr.Co.«fePhil.
1,000
2,000,000
do
do
6 g. A. & O.
1,000
5,000,000
do
do
6 g. F. «fe A.
1,000
1,500,000
do
do
. 7 g. Q.—M.
1,000
fc
do
do
2,500,000
5 g- M. < S.

Jan. 1, 19231
Oct. 1. 1938
May 11,1894
Jan., 1899
Apr. 1, 1901
Sept. 1, 192?
Sept. 1, 1927
Apr. 1, 1918
June 1, 1918
Jan. 1, 1937
Feto. 1, 1937
Aug. 1, 194»
Apr. 1, 1912
Apr. 1, 1939
Sept. 1, 192©
Oct. 1, 1921
Jan. 1. 1970
1920 & 1921
Apr. 23,1891
July 1, 1893
July 1, 1900
July 1, 190»
Jan. ’96-1900
June 30,1900
Mch. 1, 1900
May 1, 1931
Apr. 1, 1932
Feb. 1, 1934
Dec. 1, 1924
June 1, 1957

N ew Y o r k O ntario & W estern .—(See Map.)—Owns Oswego,
In year ending September 30,1890, gross earnings were $3,088,604;
N. Y., to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 m iles; net, $476,302; adding SS. dividends, $572,122; surplus over fixed
to Delhi, 17 miles; to Ellenville, 8 m iles; total owned, 320 m iles; leases charges, $539,936, out of which paid dividends, $450,000.—(V. 49, n.
Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles; (in per­ 8 2 3 ; V. 50, p. 245, 706; V, 51, p. 345, 875.)
petuity) Ontario Carbondale & Scranton Railway, Hancock, N. Y., to
N ew Y o r k & B o c k a w a y B ea c h .—Owns from Glendale Junction
Scranton, Pa., 54 miles; Wharton Valley Railroad to Edmeston, 7 miles.
By contract has right over West Shore Railroad from Cornwall to Wee- to Rockaway Park, 10% miles; trackage to Long Island City, Brook­
hawken, 53 miles, by payment of trackage; total operated, 478 miles. lyn, Far Rocka way, etc., 19 miles; total operated, 29% miles. Stock
authorized, $1,000,000; outstanding, $937,200; par, $100. Controlled
Extension to Scranton, Pa., 54 miles, was completed in July, 1890.
The New York & Oswego Midland was sold in foreclosure November by Long Island Railroad Company, whose endorsement is printed on
14,1879, and this company organized. As to agreement in 1891 with N. first mortgage bonds. (Formerly New York Woodhaven & Rockaway.)
In year ending June 30,1890, gross earnings were $211,273; net in»
Y. Central, see V. 52, p. 609.
In 1889 the consolidated mortgage (Mercantile Trust Company, come, $42,206; surplus over interest, etc., $1,788.
trustee,) for $10,000,000 was authorized—$4,400,000 to toe reserved for
ew Y r k Susquehanna & W e ste
prior bonds, the remainder for improvements and the extension to toNGravelo Place, Penn., 101 miles; Two rn .—(¿fee Map.)—Jersey City
Scranton. The bonds cover the entire road and branches, and $1,500,- N. Y., 21 miles; other branches, 12 miles;Bridges, N. J., to Unionville,
leases—Unionville, N. Y., to
000 Ontario Carbondale < Scranton Railroad toonds and $1,495,000 Middletown, N. Y., 14 miles; Pennsylvania Railroad trackage in Jersey
fe
stock are deposited with the trustee of this mortgage. See circular in City, 3 m iles; small branches, 6 miles; total, 157 miles.
full in V. 48, p. iv advertisements and V. 48, p. 326; also abstract of the
The New Jersey
mortgage in V. 49, p. 238. Guarantees principal and interest $75,000 and the Midland of Midland was sold in foreclosure February 21,1880,
New Jersey was organized. The New York Susque­
Wharton Valley Railroad first mortgage 5s (M. < N.) due 1918.
fe
hanna & Western was a consolidation in June, 1881, of the Midland of
Stock is $58,119,982 (par $100), of which $6,000 is preferred. In New Jersey and other railroads. The general mortgage 5s of 1890, for
January, 1891, it was proposed to classify the common stock into com­ $3,000,000, were authorized for new equipment, double-tracking, etc,,
mon and preferred, but no action has yet been taken. V. 52, r. 165.
amount of second mort­
Price of stock—In 1885, 6%®207s ; in 1 8 8 6,15®223s; in 1887,1458® $1,000,000 being reserved to retire the same V.
gage
See mortgage abstract,
201 ; in 1888,14® 19; in 18 8 9,14hi®2278 ; in 1 8 9 0,13®22% ; in 1891, mon, bonds of 1887. preferred (cumulative 6 per 52, p. 84. Stock, com­
a
is$13,000,000;
cent), $8,000,000; par,
to May 22, inclusive. 151
4®18%.
From July 1,1890, to March 31,1891 (9 months), gross earnings on $100. The New Jersey Midland junior securities were exchangeable into
company
certain
up to
425 miles were $2,068,798, against $1,644,054 in 1889 on 371 m iles; stock of this $224,000 on the old terms, and the exchangesbonds May
1, 1891, left
of
stock, $843,000 income
and
net, $469,599, against $317,225; surplus over charges $62,137, against $292,000 scrip not yet exchanged. There are also $6,000 old firsts of
$102,694.
1911 and $93,500 debentures o f 1897 outstanding.
Report for 1889-90 was given in full in Chronicle, V. 52, p. 168.
From January 1, to March 31,1891 (3 months), gross earnings were
In the year ending June 30, 1890, gross earnings were $1,963,756;
against $293,141 in
net, $369,757; surplus over charges, $146,442. In 1888-89 gross, $324,925,for 1890 was in V. 52, 1890; net, $128,032, against $109,056.
Report
p. 349.
$1,782,327; net, $267,851; surplus over interest, &c., $61,291.—(V.
INCOME ACCOUNT.
50, p. 1 0 5 , 314,707, 771, 874,910; V. 51, p. 21, 538 ,5 6 9 , 572, <88; V.
52, p. 1 6 3 ,1 6 5 , 280, 391, 609, 762.
1887.
1888.
1889.
1890.
^
<
j»
N ew Y o r k P e n n sy lv an ia & O h io.—Owns from Salamanca, N. Y. Gross earnings................ 1,395,186 1,445,900 1,402,466 1,592,088
to Dayton, O., 388 miles; branches—to Oil City, 34 miles, other
597,592
595,910
551.438
670,946
branches. 15 m iles; total owned. 437 miles. Leased lines—Cleveland < Net earnings....................
fe
27,159
25,828
33,527
30,401.
Mahoning Valiev Railroad and branches, 124 m iles; Sharon Rail­ Other income...................
way (till April, 1981,) Sharon, Pa., to Sharon Junction and
T o ta l..........................
624,751
621,738
584,965
701,34?
branches, 14 m iles; New Castle < Shenango Valley. New Castle to
fc
West Middlesex, 17 miles; other lines, 4 miles; total operated, 596
441,120
441,120
441,120 445,45»
miles. Formerly Atlantic & Great Western Railway. Sold July 1, Inter^tlm^bonds............
26,494
26,497
26,491
26,446
1871, and again January 6,1880, reorganized, and again leased to Erie. Rentals........ ....................
2,541
2,699
12,955
25,776
The lease to New York Lake Erie & Western made April 30,1883, Miscellaneous....................
was modified April 1, 1887, and again October 1,1889. See V. 49, p.
Total disbursements.
470,155
470,318
480,567
497,681
793. The rental is 32 per cent of all gross earnings until these reach
$6,000,000, and this proportion decreases by 1-10 of 1 per cent for Balance, surplus.............
154,596
151,420
104,398
203,666
each $100,000 of gross earnings'above $6,000,000 until the gross earn­ —(V. 50, p. 312, 3 5 0 ; V. 51, p. 276, 570; V. 52, p. 84, 349.)
ings are $8,000,000. If earnings equal or exceed $9,000,000, the rental
N ew Y o r k T ex a s & M e x ic a n .—Owns from Rosenberg to Vic
shall be 28 per cent. But if 32 per cent of the gross earnings should
ever be less than a specified minimum sum of $1,757,055 to be paid toria, 91 miles. Stock, $630,040, and Southern Pacific Company own*
yearly, then the deficit is to be made up without interest out of the all but $22,040 of it. There are also $60,500 sixes outstanding. Is
operated by the Southern Pacific Company, which guarantees the 4 peT
excess in any subsequent year.
Five trustees exercise the voting power of the new stock until the cent bonds.
From January 1 to March 31 m 1891 (3 months) gross earnings were
third mortgage bondholders receive 7 per cent interest in cash during
three years. The first mortgage bonds bear 7 per cent, whatever por­ $33,915, against $35,388 in 1890; deficit, $12,978, against deficit
$19,345. In 1890 gross, $225,629 ; net, $12,549; deficit under charges,,
tion o f this that may not be earned to be payable in deferred warrants,
to be capitalized in bonds of the same class; payment of interest to $73,971, against $61,684 in 1889. Floating debt (due So. Pac. Co.,
become absolute not later than July 1,1895, and until July 1,1895, etc.) Jan. 1,1891, $401,662.
the right to foreclose the mortgage is suspended. On the second and
N orfolk & C arolin a.—Owns from Norfolk, Va., to Tarboro, N.
third mortgages there is no right to sue the company or to foreclose. 101 m iles; branches, 9 miles. Successor to the Chowan & Southern-;
Stock is—preferred. $10.000,000; common. $34,999,350; par, $50; the name changed in 1889. Opened April 1, 1890. Stock, $1,500,000.;
deferred warrants September, 1890, were $14,333,841. There are par, $100, all controlled by the Atlantic Coast Line. President. George
also $65,270 6 per cent car trusts, due 1893.
8. Scott, New York city.
For year ending September 30,1890, rental received was $2,239,213;
N orfolk Sou
Edenton. N.
other income, $20,891; total income, $2,260,104; taxes, etc., $61,129; branch, 84 miles.tkern .—Owns Berkely, Va., toApril 29,1891,C., and
Road was
to the
interest, $1,257,006; rentals and other charges, $863,253; surplus for reorganization committee. To sold in foreclosure Norfolk < Southern,
be reorganized
year, $78,716. See V. 51, p. 751. (V. 50, p. 632; V. 51, p. 609, 751.) with a capital stock of $2,000,000, which as the divided fc
will be
among the
N ew Y o r k P h ila d elp h ia dc N o rfo lk .—Operates from Delmar, assenting holders of the old securities in accordance with the plan. A
Del., to Cape Charles, Va., 95 miles, and King’s Creek, Md., to Crisfield, new first mortgage to provide for betterments, extensions; «fee., will
17 m iles; total, 112 miles. Successor of the Peninsula Railroad Com­ probably be authorized. Plan of reorganization, since somewhat
pany of Virginia. Has traffic contract till January, 1895, with Penn­ modified, was in V. 50, p. 771. In year ending June 30.1889, gross,
sylvania Railroad, which company sets aside 10 per cent gross earnings $263,366; net income, $79,408—(V. 49, p. 719; V. 50, p. 771; V. 52,
to purchase 1st mortgage coupons. See V. 47, p. 807. Capital stock, p. 463, 681.)
$1,714,375; par, $100.
N orfolk & W ste rn .—((See Map.)—Owns from Norfolk, Va., to
In 1890 gross earnings were $803,197; net, $165,545. In 1889 gross Bristol, 408 miles;ebranches—Petersburg
10
earnings were $671,432; net, $146,013. (V; 50, p. 245; V. 51, p. 142.) Junction 1 to Saltville, Va., 10 miles; short to City Point, Va.,Newmiles?
branches, 5 miles;
River
N ew Y o r k P rovidence & B o sto n .—Owns from Providence, R. Division, Radford to Elkhorn, 84 miles ; Cripple Creek Extension, 30
I., to New London, Conn, (including the Thames River bridge), 62 miles;miles; other, 42 miles), 155 miles; Clinch Vafiey Division, Graham to
branches. 18 miles; leases—
'Pawtuxet branch road, 6 miles; Providence Norton, Va., and branches, 107 miles; Petersburg to .Columbus, O. (for­
& Worcester RR. (which see), Providence to Worcester and branches, merly the Scioto Valley & New Eng. RR.) 131 miles; Maryland & Wash­
50 m iles; total operated 136 miles. Owns a majority interest in the ington Division, Hagerstown, Md., to Roanoke, Va., 238 miles, and
Providence < Stonington Steamship Line, which has a capital of branches 17 miles ; other lines, 18 miles. Total operated January 1,
fe
$1,500,000. Dividends since 1876—In 1877 and 1878, 10 per cent; 1891, 1,099 miles. Under construction—Ohio Extension, to Ironton
from 1879 to 1885, inclusive, 8 ; in 1886, S1 from 1887 to May, 1891, on the Ohio River, 195 miles, and Washington branch, Front Royal t©
^;
both inclusive, at the rate of 10 per cent per annum. Bills payable Washington, D. C., 75 miles; other lines, 68 miles. Total of all, 1,437
September 30,1890, $255,000.
miles.




to o '
INVESTORS’
SUPPLEMENT.

[Vol.
lii .




M a t , 1891.]

RAILROAD
STOCKS
AND
BONDS.
1«!




IO S

INVESTORS’

SUPPLEMENT.

[ V o l . L II.

Subscribers w i ll con fer a great fa v o r by g iv in g Im m ediate notice o f any error discovered In these T a bles.
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
For explanation of column headings, «fee., see notes of
Par
of
Outstanding Rate per When Where Payable, and by
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
N orfolk < Western.—(Concluded.)—
6
Nor.& W.equip.b’ds,10-20s,dr’n at 100 aft.May,’98
1888 $ 1 , 0 0 0 $4,284,000
5 g. J. & D. N.Y., Cent.Tr.Co.«fc Phil.
Convertible debent’res, subject to call at 100.c*
1884
500
525,000
6
J.15&J 15
Hundred-year mortgage, for $45,000,000, gold. 971 1889
1 ,0 0 0
7,000,000
5 g. J. & J.
Scioto Valley & New England, IstM., assum.,g.c* 129 1889
1 ,0 0 0
5,000,000
4 g. M. & N.
Norf. & West.—IstM. Maryland & Wash Div.,g.c* 255 1891 500 &c.
6,500,000
5 g. J. « e J.
S
do
do
North Carolina—Stock, 6 p. o. till 1901, Rich. & D
223
100
4,000,000
M. & S.
3
Burlington, N. C.
North Pacific Coast—1st and 2d M. (IstM. sink, fd.)
76 1881
1,090,000
6 g. M. & N.
San Francisco.
1st mort. North Pacific Coast Extension Co., gold
5 1883
150,000
5 g. J. & J.
do
do
No. Penn.—Stock, 8 p. c. guar.990 yrs.,Phil. & Read
88
” 50
4,742,950
2
Q .-F . Phila. Of., 240 So. 3d St.
2d mortgage.....................................................
56
500 &c.
1,500,000
M. « e N.
S
7
do
do
General mortgage bonds............. . . " V 3
4,500,000
J. & J.
7
do
do
Bonds secured by $1,200,000 stock..................... r
1881
1 ,2 0 0 ,0 0 0
M. & S.
6
do
do
No. < So. o f III.—1st M.for $1,400,000 ($10,000p.m.)
6
1890
5 g.
(?)
Northeastern (S. C.)—Stock...................... .
50
900,000
3 * J. & J.
Charleston, Office.
1st mortgage, provided for by consol, mortgage, c Í 0 2 1869
500
820,000
M. <c S.
S
8
2d mortgage, provided for by consol, mortgage.c 1 0 2 1869
500
322,000
M. & S.
8
Consol, mortgage, gold (for $1,836,000)..............c
1883
1 ,0 0 0
694,000
6 g. J. & J. N. Y., John Paton <c Co.
S
Northern, (N. M.)—Stock, 5 p.c.rental till July,1897 "83
100
2,997,300
l* 2 g . Q .-J . Bost.,Conc’d or Leban’n
Northern California—1st mortgage................
54 1889
945,000
J. & D. N. Y., So. Pac., 23 Broad
5
Northern Central—Stock...................................
’ ' 50
7,518,150
J. & J. Balt. «ScPhil.,233 S.4thSt.
4
1st mortgage, State of Maryland loan.........
Í38
1,500,000
Q .-J .
6
Annapolis.
2d mortgage............................................................|
138 1865 50Ó&C.
1,126,000
A. & O. Baltimore & Philadelp’a
6
Consolidated mortgage, gold.................................. c 138 1868
1 ,0 0 0
2,599,000
6 g. J. & J. Baltimore, Treas. Office.
r 138 1868
Consol, mortgage, gold.....................
1 ,0 0 0
205,000
do
do
6 g. A. & 0.
Consol, gen. M., g.,s.f.,drawn at 100, $ o r £ A&B.c 138 1874-5 1 ,0 0 0
2,033,000
6 g. J. & J. London and Baltimore.
do
do
gold, $, C & D.....................c
138 1876-7 1 ,0 0 0
2 , 0 0 0 ,0 0 0
6 g. J. & J. Baltimore, Treas. Office.
do
do
gold, E ............................... c
1 ,0 0 0
138 1885
1,320,000
4 1 A. & 0.
2g.
2d gen. mort., series “ A ” (s. f. $30,000 yearly).c* 138 1876
1 ,0 0 0
2,676,000
J. & J.
5
2d gen. mortgage, series B ..................
c* 138 1876
1 ,0 0 0
1 , 0 0 0 ,0 0 0
5
J. & J.
Union RR.,lst(ass’d)$117,000 end. byBalt.City.c*
9 ’ 67-’70 500 &c.
900,000
6
J. & J.
2d mortgage (assumed) $ or £ ............................ e
1 ,0 0 0
9 1873
600,000
6 S- M. & N. N. Y., London & Balt.
L /x i u A i > x lU i N ,

-LJ1G -OLtladltlC MISSISSIPPI & OxllO JtvdiLLrOdjCl t o m -

consolidation of
the
f &ny was&aTennessee roads;Norfolk & Petersburg, South Side and and
irgmia
it was foreclosed February 10,1881,

was reorganized as the Norfolk & Western.
In June, 1890, purchased the Scioto Valley & New England Railroad
{formerly Scioto Valley). When the Ohio Extension is completed this
»oad will afford a through line to Columbus, O. The Shenandoah Valley
RR. was purchased at foreclosure sale September 30,1890. and now
constitutes the Maryland & Washington Division.
S t o c k a n d B o n d s . —Preferred stock is entitled to 6 per cent non•«mulative; $3,000,000 of it (not included in amount outstanding in
the table above) is deposited with trustee of 100-year mortgage. In May
and June, 1890, $5,000,000 new preferred was issued. (See V. 50, p.
735, 834.) In Dec., 1890, $2,250,000 common and $4,500,000 pre­
ferred were issued for Shenandoah Valley securities. See V. 51, p. 876.
In May, 1891, stockholders were offered the privilege of subscribing
to $8,500,000 new preferred stock (including the $3,000,000 deposited
S i ?1
trustee of the 100-year mortgage) at the purchase price of
$52 50 per share. Certificates for this stock will be delivered June 12,
1891. See V. 52, p. 718.
Dividends on preferred stock—In 1882, 4 percent; in 1884, 3 ^ in
scrip; in 1888, H e ; in 1889, 3 ; in 1890, 3 ; in 1891, April 23, 1*
2.
Price of common stock—In 1883,10® 18; in 1884,10®12*e; in 1885,
8®137s; in 1886, 8®27% ; in 1887,13®233s; in 1888, 15*e®23:1 ; in
4
1889. 141
4®221 ; in 1890, 13®247g; in 1891, to May 22 inclusive,
e
1338® 16%.
Price of preferred stock—In 1883, 32®49% ; in 1884,17® 42; in 1885.
14® 3412; in 1886, 25®593s; in 1887, 34* 557 ; in 1888, 41*2®585s ; in
2®
8
1889, 47*s®61%; in 1890, 48®663s; in 1891, to May 22 inclusive,
©1*4®57*2.
Abstract of Clinch Valley mortgage (Fidelity Insurance Trust & Safe
Deposit Company of Philadelphia, trustee) in V. 45, p. 541; the issue,
exclusive of $500,000 for equipment, is at $19,000 per mile.
^ © eq u ip m en t mortgage of 1888 (trustee Girard Life Insurance Co.
% Philadelphia) is for $5,000,000, and covers all equipment and rolling
£
ftftocig and all car trust obligations purchased with the proceeds of
bonds issued. There are also $597,110 car trust certificates outstanding,
fu e at various dates.
The 100-year mortgage of 1889 (trustee Mercantile Trust Co.) provides
fior the issue of $20,000,000 bonds, plus additional amounts not exceed­
ing $25,000,000 to redeem by purchase or exchange (provided no in­
crease in interest charges be thereby created) prior bonds on the 699
miles built and under construction, which prior bonds must not be in­
creased to exceed $22,825,000 in all. A full abstract of this mortgage
was in the C h r o n i c l e , V . 50, p. 208.
The Scioto Valley & New England mortgage (trustee Central Trust
Go.) has been limited to $5,000,000 and assumed by the Norfolk & West­
ern. See application to New York Stock Exchange, V. 50, p. 452.
The Maryland & Washington Division mortgage for $10,000,000
was issued on the Shenandoah Valley Railroad (see V. 51, p. 876)
2,500,000 bonds being reserved to extend the line to Washington.
> C., and $1,000,000 for other purposes.
.

{

E a r n i n g s , E t c .— T h e s t r e n g t h o f t h is c o m p a n y h a s b e e n in it s l o c a l
b u s in e s s .

Bonds —
Princi­
pal, When Due.
Stocks—Last
Dividend.
June 1, 1908
Jan. 15,1894
Jan. 1, 1990
Nov. 1, 1989
Jan. 1, 1941
Moh. 1, 1891
Nov. 1, 1901
Overdue.
May 25, 1891
May 1, 1896
Jan. 1, 1903
Sept. 1, 1905
1940
Jan. 1, 1891
Sept. 1, 1899
Sept. 1, 1899
Jan. 1, 1933
Apr. 1, 1891
June 1, 1929
Jan. 15,1891
Irredeemable.
Apr. 1, 1900
July 1, 1900
July 1, 1900
July 1, 1904
July 1, 1904
Apr. 1, 1925
Jan. 1, 1926
Jan. 1, 1926
Jan. 1, 1895
May 1, 1900

N orth Pacific Coast (N arrow G au ge).—Owns San Francisco to
Duncans, Cal., 79*4 m iles; branch to San Rafael, 2 miles; leases to San
Cazaden, etc., 13 miles; total operated, 94 miles. Stock.
$2,500,000; par, $100. In 1890 gross, $393,822; net, $70,308,
agamst $87,089 in 1889; interest, etc., $70,585; deficit, $277.
N orth P e n n sy lv a n ia .—Owns from Philadelphia, Pa., to Beth­
lehem, Pa., 56 m iles; branches to Delaware River, &c., 30 miles. The
Northeast Pennsylvania and the Stony Creek roads are operated under
contract. Leased for 990 years to Philadelphia & Reading at 8 per cent
■
on stock.
.
„
& South o f Illin o is .—Owns from Springfield to Litchneld, 111., 43 miles, and from Litchfield to Mount Olive, 7 miles.
The St. Louis & Chicago defaulted on January, 1889, coupon,
and foreclosure sale of main line was made October 4,1889, and of
the branch February 5,1890. The receiver has not yet been discharged,
and in September, 1890, road was leased to the Chicago Peoria & St
Louis at $40,000 per annum, lease to last during the receivership. See
7 - 5L P- 830. Stock—Common, $1,500,000; preferred, $1,300,000, en­
titled to 5 per cent non-cumulative dividends if earned. Gerald L
Hoyt, President. (V. 50, p. 72, 207, 245, 314, 377; V. 51, p. 425 494
830; V. 52, p. 239.)
>.
^
***<
r, ^ «rtlie astern (S. C.)—Owns from Charleston, S. C., to Florence,
S. C., 102 miles; leases jointly, Lane, S. C., to Sumter, S. C., 38 miles;
total operated, 140 miles. Of consolidated mortgage $1,142,000 was
held to retire debts of prior lien. Stock, $900,000; par, $50. In year
ending June 30, 1890, gross earnings were $676,061; net, $217,332;
interest paid, $133,000; dividend paid (6 per cent), $54,000.
N orthern (New H am pshire) .—Owns from Concord, N. H., to
West Lebanon, N. H., 70 m iles; branch, Franklin, N. H., to Bristol,
N. H., 13 miles; total, 83 miles. A lease to Boston & Lowell for 99
years from January 1,1890, was ratified in December, 1889, and then
assigned to Boston & Maine, rental being 5 per cent on stock till July 1,
1897, and 6 per cent thereafter, payable in gold.
Dividends since 1885—From 1886 to 1889, inclusive, 6 yearly; in
1890, 5, and 26 extra from surplus; in 1891, Jan. and April each
1* both being partly from surplus. (V. 49, p. 269, 825.)
2,
N orthern C alifo rn ia.—Owns from Knight’s Landing to Oroville,
Cal., 54 miles; completed in December, 1890. Leased to Southern Pa­
cific Company, whicffowns $1,277,500 of the $1,280,000 stock.
N orthern C entral.—Owns from Baltimore, Md., to Sunbury, Pa ,
137 miles; branch—Hollins to Green Spring Junction, 9 miles; leases—
Shamokin Valley & Pottsville Railroad, 30 miles; Elmira & Williams­
port Railroad, 76 miles; operates at cost—Elmira & Lake Ontario Rail­
road, 100 miles; Summit Branch Railroad, 20 miles; Pennsylvania
Railroad, 3 miles; total operated, 382 miles. In addition uses New
York Lake Erie & Western tracks, 7 miles, and Philadelphia & Erie
tracks between Sunbury and Lewisport, 40 miles, and owns Union Rail­
road, 9 miles, and $622,850 stock of the Baltimore & Potomac RR. Co
The Pennsylvania Railroad owns $3,488,950 of stock.
Dividends since 1880 have been—In 1881, 5*2 ; in 1882, 6 ; from 1883
to 1886 inclusive, 8 ; in 1887, 8 and 10 stock; in 1888, 7 ; in 1889. 8 ;
in 1890, January 15, 5; July 15, 3 per cen t; in 1891, Jan. 15, 4.
From Jan. 1 to March 31 in 1891 (3 months) gross earnings w ere$l,506,447, against $1,612,174 in 1890; net, $408,419, against $467,688.
Fiscal year ends Dec. 31; report for 1890 was in V. 52, p. 462.

From January 1 to March 31 in 1891 (3 months) gross earnings on
1.077 miles were $2,047,272, against $1,881,244 in 1890 on 1,024
miles; net, $585.235, against $566,053.
The annual report for 1890 was published in the C h r o n i c l e , V. 52,
INCOME ACCOUNT.
3h 640,644. See also article p. 621.
• , J
1887.
1888.
1889.
1890.
.
.
1887.
1888.
1889.
1890.
Receipts—
$
^
^
$
Average miles operated.
527
542
591
826
Gross earnings........... 6,212,926
6,203,394 6,069,956 6,608,797
^
^
^
m
Net earnings............... 2,073,484
2,109,821 1,944,356 1,687,038
Sotal gross earnings....... 4,254,794 4,899,599 5,597,125 7,561,915 Other receipts.................
277,348 251,125
307,628
522,951
©per.expen. (incl. taxes). 2,483,780 3,001,927 3,483,352 4,838,610
Total income............ 2,324,609
2,417,449 2,447,728 2,209,989
Ret earnings.................... 1,771,014 1,897,672 2,113,773 2,723,305
Disbursements—
$
$
$
$
P. c. of op. ex. to eam’gs.
58-38
61-Ó0
62 00
64-00
Rentals, &c.....................
460,819 470,706
464,870
475,572
INCOME ACCOUNT.
Interest on debt..........
902,910
926,505931,481
924,039
1887.
1888.
Dividends.......................(8)545,946 (8) 571,966 (8) 571,975 (7) 526,260
1889.
1890.
Receipts—
Miscellaneous.............
48,196
79,495
293,828
226,654
$
$
$
$
Ret, incl’g other income 1,880,511 2,045,110 2,257,921 2,957,225
Disbursements—
Tot’l disbursements. 1,957,872
2,048,672 2,262,155 2,152,526
Interest on bonds, &c.. 1,237,134 1,296,551 1,451,265 1,814,008
Balance, surplus---366,737
368,776
185,573
57,462
Dividend on pref. stock.
............(1*2)330,000(3%)660,000 (3) 735,000 —(V. 50, p. 311, 519; V. 52, p, 4 62.)
Miscellaneous................
7,849
41,609
88,607
N orthern o f N ew Jersey.—Owns from Bergen, N. J., to Sparkill,
Total disbursem’ts. 1,244,983 1,626,551 2,152,874 2,637 615 N. J., 21 miles; leases Sparkill to Nyack, 5 miles; total operated, 26
Balance, surplus............
635,528
418,559
105,047
319’ 610 miles. By contract of April, 1869, it is operated by New York Lake
Erie & Western at 35 per cent of its gross earnings and five fifty-sixths
r ^ - ^ ’ P ;208! 2^ 3 » 24=5, 314, 377, 5 8 7 , 5 9 0 , 605, 735, 834,875» of the balance. It is understood the contract is terminable by either
910; V. 51, p. 143, 172, 829, 876; V. 52, p. 2 7 8 , 280, 351, 621, 640» party on notice. The gtock is $1,000,000; par, $100.
*.18.
In 1889 gross earnings, $343,976; net, $73,575; surplus oyer fixed
N orth C arolin a.—Owns from Goldsboro to Charlotte, N. C., 223 charges, $28,550; dividends paid (3 per cent), $30,000. In 1887-88,
miles. Leased September 11,1871, to the Richmond & Danville for 30 rental. $100,698 ; in 1888-89, $101,446. (V. 46, p. 255; V. 47, p. 803.)
years at $260,000 per year. Dividends of 6 per cent are paid on the
N orthern Pacific.—(See M ap.)—Line of R oad—June 30, 1890,
stock, o f -» bich the State of North Carolina holds $3,000,000, and the owned: Main line—Asldand, Wis., to Portland and Wallula Junction,
dividends tnus received by the State are applied to her bonds issued to Ore., 2,134 miles; Duluth to Northern Pacific Junction (*2 interest), 24
Ijhe North Carolina Railroad.
miles; 13 small branches, 206 miles. Total owned, 2,363 miles. Leases
—St. Paul & Northern Pacific, Brainerd to St. Paul, and branches, 176
N orth H u d so n C ou n ty.—S e e “ M i s c e l l a n e o u s C o m p a n i e s . ”
miles; trackage—St. Paul Minneapolis & Manitoba, St. Paul to Minneap-




M a y , 1891.j

BAILKOAB

STOCKS AND

103

BONDS.

, ■
.-~.t.. -y ,
........ , . :....„-■■¡a
Subscribers w i ll confer a great fa v o r by g iv in g im m ed iate notice o f a n y error discovered in tbese T a bles.
Bonds—Princi*
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
Par
of
For explanation of column headings, &c., see notes of
Stocks—Last
Dividend.
Whom.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
North, o f New Jersey—3d M.,now 1st(f or$700,000).o
21
Northern Pacific—Common stock.............................
Preferred stock (8 per cent, not cumulative)........
1st M. and Id. gr. Missouri Div., dr’n at par.c*&r 205
1st M. and Id. gr. P. d’ Or. Div., drawn at par. c*&r 225
Gen.lstM . Id. gr., g., $25,000'p. m.,dr. atllOc*&r! 2.146
Gen. 2dm ort., g.,land grant, s. f.,dr’n atll0.c*& r 2.146
Gen. 3d mortgage, sinking fund, not dr’n, g. .c*&r. 2.146
Dividend certificates, ext’d in ’88, red. after 1892
James Riv. Yal. RR. 1st M., gold, guar., s. f — e* '6 4
39
Coeur d’Alene 1st mortgage, gold......................c*
49
Gen. M., $25,000 p. m., g., guar., sink. fund, .c*
Spokane & Palouse 1st M., gold, guar., s. f .......c* 110
Duluth & Manitoba 1st M., gold, guar., s. f ...... c* 110
96
Dakota extension 1st mortgage, gold, guar., s.f.
17
Helena & Red Mountain 1st M., g., guar., s. f. .c*
No. Pac. & Montana 1st M., g.,gu.s.f.not dr’n.c*<fcr 225
88
Cent. Wash. RR. 1st mort., g., guar., sink. fd.c*&r
Consol mortgage for $160,000,000, gold.......c*&r 3,163
Seattle Lake S. & East. 1st M., g., $25,000 p. m.c* 218
Northern Pac. Ter. Co.—1st M.,g.,dr’n aft.’92 at 110c*
Northern Railway ( Oat.)—1st M., int. guar., gold .. 149
Consol. M. for $21,000,000, g., 1st M.on 197 m.c*&r 386
66
Norwich < Worcester—Pref. stock, 8 p. c. rental—
&
66
1st M., principal and int. guar, by N. Y. & N. E.c*
Ogdensbwrg&Lake Ohamp.—Consol. M. (now 1st M.) 118
Income bonds, not cumulative......................... .
Guaranteed debenture bonds................................ r
Ogdensb TransitCo.lst M. (Cent.Vt.& Ogdens.,gu.)
10
Saratoga & St. Law. 1st M.. for $200,000, guar, .r
Ohio < Mississippi—Stock ($4,030,000 is prer)........ 628
6
1st consolidated mort. ($3,445,000 are sink.fd.)c* 393

1887 $100&c.
100
100
1879 100 &c.
1879 100 &c.
1881 l , 000&c
1883 l.OOO&c
1887 l , 000&c
1888 500 &c.
1886
1,000
1886
500
1,000
1888
1886
1,000
1886
1,000
1887
1,000
1887
1,000
1888 l.OOO&c
1888 l , 000&c
1890 l , 000&c
1,000
1886
1883
1,000
1,000
1877
1888
1,000
100
1,000
1877
1880 500 &c.
1880 100 &c.
1888
ié è ’9
1868

6

J. & J. Jer. City, Hud’n Co. Bk. July 1, 1917

Ï'
6

N. Y., Mills Building.
Q .-J .
M. & N.
do
do
M. & S.
do
do
do
do
J. & J.
A. & O.
do
do
J. & D.
do
do
do
J. & J.
do
do
J. & J.
do
M. & S.
do
do
A. & O.
do
do
M. & N.
do
do
do
do
J. & J.
do
do
J. & D.
do
M. & S.
do
M. & S.
do
do
do
do
M. & S.
do
do
J. & D.
F. & A. N. Y., Union Trust Co.
J. & J. N. Y., Winslow, L. & Co.
J. & J. N.Y., So.Pac.Co.,23Br’d
do
do
A. & O.
J. & J. Boston, Second Nat. Bk.
M. & S. Boston, N. E. Trust Co.
Boston, Office.
A. & O.
A. & O.
St. Albans, Vt.
J. & J.
F. & A.
(?)
J. & D.
Ogdensburg, N. Y.

6

6
6
6
6
6
6
6
6
6
6
6
6
6

100.000

100

1,000

olis, 12 m iles; Chicago St. Paul Minneapolis & Omaha, Superior to West
Superior, 4 m iles; Minneapolis Union terminals, 3 m iles; other lines,
3 miles. The Northern Pacific also operates the following roads and
guarantees a certain rental, sufficient to pay interest and sinking funds:
From
To
Miles.
James River Valley............... Jamestown, Dak. ..Oakes, Dak........... 64
Duluth & Manitoba.................Winnipeg Jc., Minn.Grand Forks, Dak.110
“
“
“
Dak. Div..Grand Forks, Dak..Int’lB ’ndary,Dak. 97
Spokane & Palouse................. Marshall Jc., Wash.Genesee, Idaho... 104
H e le n a * Red Mountain.... Helena, Mont............ Rimini, Mont........ 17
f Clough J., Mont......Marysville, Mont. 12
Jefferson Jc., Mont.Calvin, Mont........ 30
■r
v
_ c
I Missoula, Mont....... Grantsdale, Mont. 50
Northern Pac. & Montana... ■ x)rumm0nd, Mont. .Rurnsey, Mont__ 32
<
Canyon House........ into Jefferson Co.. 45
[Otherlines............................................... 27
Coeur d’Alene R. & N. Co........ Old Mission, Idaho.Mullan. Idaho— 39
Central Washington................ Cheney, W ash.........N.W.into Linc’nCo 88
Other branch lines formerly under Oregon & Trans-Continental Trust
deed 503 miles. Grand total June 30,1890, 3,778 miles.
An important operating contract with Wisconsin Central was made in
May, 1889, giving Northern Pacific a route to Milwaukee and Chicago,
with terminals. This contract was subsequently altered to a lease to
run 99 years from April 1, 1890. The Wisconsin Central Company
(which see) has a total mileage of 867 miles.
In July, 1890, leased the Seattle Lake Shore & Eastern, under con­
struction to a connection with the Canadian Pacific at the Canadian
boundary. The road has mileage about completed, including branches,
of 237 miles. See that company.
On August 18,1890, the Northern Pacific & Manitoba was acquired
under contract dated July 1,1890. The road extends from Pembina,
No. Dak., to Portage Junction (3 miles from Winnipeg), 68 miles, and
has branches to Portage La Prairie, 52 miles, and to Brandon, 145
miles ; total, 265 miles.
In March, 1891, a director of this company purchased in his own name
the Oregon & Washington Territory RR., having a mileage constructed
and to be constructed of 209 miles. See V. 52, p. 391.
O r g a n i z a t i o n .— This company was chartered by act of Congress July
2,1864. The road opened, 450 miles, to Bismarck, was foreclosed Aug.
12,1875, and reorganized September 29,1875. The Chicago & Northern
Pacific, with its large terminals at Chicago, is subleased from the Wis­
consin Central and interest on its bonds guaranteed. See that com­
pany.
S t o c k s a n d B o n d s .— The preferred stock has a preference for 8 per
cent in each year if earned, but is not cumulative. The common stock
then takes 8 per cent, and after that both share alike. The preferred
stock’s claim on net income is subject to expenditures for new equip­
ment. Preferred stock is received in payment for company’s lands east
o f Missouri River at par, and the proceeds of the land sold go to its re­
tirement. The preferred stock has thus been reduced iron* $51,000,000
to the present figure. The back surplus due the preferred stock by way
o f dividends amounted on June 30,1890, to $2,844,429, invested in con­
solidated bonds of the par value of $3,347,000.
Dividends on preferred stock—In 1883, H im ; from 1884 to 1889 in­
clusive, nil; in 1890, 4 per cent ; in 1891, January 1 5 ,1 ; April 1 5 ,1 ;
July 15,1.
Price of common stock—In 1880, 20®36; m 1881, 32%®51; in 1882,
28%'®5438; in 1883, 23ie®531 in 1884,14-027 ; in 1885, 15®31%:
8;
in 1886, 22®313s; in 1887, 20®345g; in 1888, 19V®29% ; in 1889,
25®3638; i n ’90, 16%®391 ; in 1891, to May 22 inclusive, 21 *s@30.
2
Price of preferred stock—In 1880, 3938®671 in 1881, 641
a;
s®881 ;
8
in 1882, 66%®1003g ; in 1883,49%®905s; in 1884, 37%®5758; in 1885,
361s ® 6538; in 1 8 8 6 ,5 3 ^ 6 6 1 2 ; in 1887, 413g®63i2 ; in 1888,42%®
6 4 ; in 1889, 58:1
2'®78'7 in 1890, 55®8 6 ; in 1891, to May 22 in­
8;
clusive, 63is®74.
Besides the outstanding debt March 31,1891, $2,914,000 bonds were
held by the trustee of the sinking fund.
The numbers of bonds recently called for payment will be found in
C h r o n i c l e . See V. 52, p. 80,321, 391,795.
The general first mortgage bonds are a first lien on the main line and on
the lands, except as to that part subject to the two divisional mortgages
and the land east of the Missouri River, which is subject to the preferred
stock. Central Trust Co., of New York, is trustee. Sinking fund of 1
per cent per annum of the total amount of bonds issued (the proceeds
o f land sales being included as part of the one per cent) began in 1886,
and the bonds may be drawn at 110. In 1889 a similar sinking fund
began for the 2d mortgage bonds.
KTlie 3d mortgage (see abstract, V. 47, n. 21) has an accumulating
sinking fund to begin in 1894 equal to 1 per cent of entire issue yearly
for purchase of bonds at 105 per cent, or for their redemption at
maturity, but no bonds can be drawn. See abstract of Duluth & Mani­
toba Extension mortgage in V. 45, p. 273.
The Northern Pacific & Montana and the Cœur d’Alene Railway &
Navigation Co. bonds are issued at $25,000 a mile; the James River
Valley and the Duluth & Manitoba at $15,000 a mile ; the Spokane &
Paloiise at $16,000 a mile ; the Helena & Red Mountain, a round sum ;
all the rest at $20,000 a mile.
All the issues of leased line bonds given in the table, except the Cœur
d ’Alene 1st 6s of 1886,the NorthernPacific & Montana bonds and the
Seattle Lake Shore & Eastern 6s may be drawn and redeemed at 105




$560,000
49,000,000
36,729,994
13368.000 ^
A4,711,000
19.626.000
11.280.000
663.500
963.000
360.000
878.000
1.766.000
1.650.000
1.451.000
400.000
5.381.000
1.750.000
40,930,000
5.450.000
3,000,000
5.156.000
4.751.000
2,620,300
400.000
3.500.000
999,750
350.000
759.500
24,092,692
6.501.000

g.
g.
g.
gg*•
g.
g.
g.
g.
g.
g.

July 15,1891
May 1, 1919
Sept. 1, 1919
Jan. 1, 1921
Dec. 1, 1933
Dec. 1, 1937
Jan. 1, 1907
Jan. 1, 1936
Sept. 1, 1916
Oct. 1, 1938
May 1, 1936
July 1, 1936
June 1, 1937
Mch. 1, 1937
Sept. 1, 1938
Sept. 1, 1938
Dec. 1, 1989
Aug. 1, 1931
Jan. 1, 1933
Jan. 1, 1907
Oct. 1, 1938
Jan. 5, 1891
Mch. 1, 1897
Apr. 1, 1920
April, 1920
April, 1920
Aug. 1, 1909
June 1, 1919

J. & J. N. Y., Union Trust Co. Jan. 1, 1898

(certain amounts per year), under sinking fund provisions, which in
most eases commence ten years after the date of issue of the respective
bonds.
This company guarantees the bonds of the Seattle Lake Shore & East­
ern by endorsement; see that company.
The consolidated mortgage for $160,000,000 was issued according to
plan in C h r o n i c l e , V. 49, p. 373. It covers, subject to prior liens, tho
main line and branch, 2,134 miles, a one-half undivided interest in 24
miles more, and all the land grant except that east of the Missouri
River, which is subject to the preferred stock. In addition to this th©
bonds at present outstanding are a first lien on 1,017 miles of
branches. About $7,000,000 consols have been issued for new terminals
and equipment and about 270 miles of branches, for which additional
consols will be issued and on which the mortgage will have a nrst nen,
are under construction.
(See full abstract of mortgage—trustee,
Farmers’ Loan & Trust Co.—in V. 50, p. 279.)
L a n d s .—The land grant of the company was 12,800 acres per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30,1890, were estimated to be about 46,824,960
acres, of which about 39,441,687 remained unsold.
For the fiscal year 1889-90 net land sales (less sales of previous years
canceled) were 278,322 acres for $1,405,678. Total sales, including
town lots, &c., were $1,913,846; net cash receipts for year, $1,471,375.
Total amount of deferred payments (notes) against land sales on Jan.
1, 1891, was $5,650,722, of which $443,981 was applicable to the re­
tirement of preferred stock, $2,451,389 to Missouri Division and
to Pend d’ Oreille Division bonds and $2,755,352 to the first mort.bonds.
E a r n i n g s .— For nine months ending March 31,1891, net earnings, in­
cluding Wisconsin Central lines, were $9,698,759, against $7,251,642
without Wisconsin Central in 1889-90; total net income, including in­
come from investments, $10,545,005, against $7,613,642; rentals, in­
terest and other charges accrued, $9,089,086(including Wisconsin Cen­
tral rental), against $6,243,180; surplus, $1,455,919, against $1,370,462. See article V. 52, p. 698.
From July 1,1890, to March 31,1891, (9 months), gross earnings on
4,237 miles were $19,447,680, against $16,792,255 on 3,651 miles in
1889-90; net, $8,232,635, against $7,251,642.
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 534,
539. See also articles in V. 51, p. 262, 515.
1886-87.
1887-88.
1888-89.
1889-90.
Mileage, June 30
3,102
3,337
3,465
3,778
Earnings—
$
$
$
$
Passenger ...............
3,269,703
4,577,898
5,824,163 6,167,702
Freight.....................
8,730,547 10,426,244 12,877,838 15,600,320
Mail, express, & c....
789,197
842,186
1,005,467
842,481
T ota l..................
Operating expenses.

12,789,447 15,846,328 19,707,468 22,610,503
7,173,020 9,266,884 12,185,944 13,463,746

Net earnings............
Per ct. exp. to earn’ s

5,616,427
56‘09

Receipts—
Net earnings............
Frominvestm’ts, &c.

1886-87.
$
5,616,427
474,366

6,579,444
58-48

7,521,524
61-83

9,146,757
59'54

1888-89.
$
7,521,524
532,325

1889-90.
*
9,146,757
1,341,172

INCOME ACCOUNT.

T o ta l.................

T iish'ii'r'K P'm pvt tst—

Interest on bonds...
Rentals.....................
Guarantees...............
Sinking funds..........
Def. on Wis. Central.
Dividends (3 p. c.)...
M iscellaneous.......

1887-88.
$
6,579,444
548,537

6,090,793

7,127,981

8,053,849 10,487,929

4,456,536
752,757
696,650
112,698
............
............
6,445

4,703,955
782,359
881,072
224,095
............
............
17,813

4,917,833
1,159,263
1,060,738
343,309
............
............
91,228

5,115,752
1,424,021
1,333,008
301,918
144,630
1,112,732
108,1 08
7

T ota l..................
6,025,086 6,609,294 7,572,371
9,540,77»
B»1 ’ «'‘ .surplus....
65,707
518,687
481,478
947,15»
—(V. 50, p. 37,139,187,275, 279, 314, 590,622, 644,735; V. 51, p. 21,
84,114,142, 239, 241, 262, 494, 515, 534, 538, 539, 680, 721; V. 52*
p 8 0 .2 1 9 ,2 8 0 ,3 2 1 391,571,643,698,795.)
,
“ Nortli'eriTPacific T e rm in a l C om p an y.—Owns terminal faoili*
ties on the Willamette River, Oregon, at Portland, East Portland and
Albina, comprising lands 270 acres, trackage 24 miles, buildings 39»
dock frontage 7,904 feet. They are leased for fifty years from January
1,1883, jointly and severally to the Northern Pacific Railroad, the Ore*
gon Railway & Navigation Company and the Oregon & California Rail«
road, with a guaranteed rental sufficient to pay interest, sinking fund
and taxes. The sinking fund begins in 1893, and is to be sufficient to
retire the bonds by maturity, bonds being drawn at 110 and interest
The stock of $3,000,000 is owned by said three companies (40 per cent
by Oregon Railway & Navigation Company, 40 per cent by Northern
Pacific and 20 per cent by Oregon & Califomia Railroad), and held by
Central Trust Company of New York, to be delivered after payments to
the sinking fund, which is to cancel the bonds
" o r t n e r n R a ilw a y C o.[(C aliforn ia).—This was a consolida­
tion in May, 1888. Owns.390 miles of railroad, leased for 99 years from

104
INVESTORS’
SUPPLEMENT.
[Y ol.
l ii.




Ma y , 1891.J

BAILROAD

STOCKS AND

BONDS.

1051

Subscribers w i l l con fer a great fa v o r b y g iv in g Im m ed ia te notice o f any error discovered In these T a b les.
....................... ..........
......... . " 1
-----------------------Bonds—PrinclINTEREST OR DIVIDENDS.
pal,When Due.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Sto<ks—Last
Par
of
For explanation of column headings, &o., see notes o f
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.

Ohio A Mississippi—( Continued.)—
1st consolidated mort., sterling, s. f. not dr n .. .o
2d cons. mort. (cum. sink, fund), no drawing., o
Spring. Div. (Sp. & 111. S. E.) 1st M.($3,000,000)c
1st general mortgage (for $ 1 6 ,0 0 0 ,0 0 0 ).........c
Equip. Tr.,2 series, 10 per ct. dm. yearly at 100.c
Ohio < Northwestern—1st mort., $12,000 per m ile..
&
2d mortgage, $6,000 per mile.........................
Ohio River—1st mortgage, gold, $12,000 per mile.c
Gen. M. gold (for $3,000,000) 1st on 40 miles, .el
Ravenswood Spencer & Glen.lstM., gold,guar.c
Ohio Southern—1st mort. ($15,000 p. m.) gold— o
General mortgage, gold (for $2,800,000)........—
®
Ohio Valley,Ky.—Gen. consol. M. ($20,000 p. m.).c
Old Colony—Stock authorized, $15,000,000..........o
Bonds (not mortgage).......---------------------Bonds
do
($2,000,000 F.«fcA.,Aug.’97)c*r
Bonds
do
..................... ---- *-2
,....... ......... «
Bonds for Framingham & Lowell bonds.. . . . . . . -o
Bonds not mort. ($750,000 ’84, due July, 1904).r
New Bedford RR. 1st mortgage. . . . . . . . ............... 0
Boston Clin. F. & N. B. mortgage bonds............. e
Omaha & St. Louis—1st mortgage, gold................ c
2d mortgage ($4,000 per mile) gold. . . . . . . . Funded interest certificates, redeemable at 100.
Orange Belt—lstM.,g.,$5,000p.m.red.aft.l891.c*&r
Orange-Keysville—1st mort., $15,000 per m. gold
Oregon < Cai.—lstM .,g.($30,000p.m.jdr’nat lOO.c*
&
Oregon Pacific—1st M.,1. g., s. f.,g.,$25,000 p.m.c < r
fe

393
393
222
103
103
169
209
33
132
Ï08

58
125
145
145
Ï53
555

1868
1871
1874
1883
87&90
1886
1886
1886
1887
1890
1881
1889
1888
1874
75-6-7
1882
1884
84-’8 8
1874
1880
1887
1890
1891
1887
1889
1887
1880

£200
1,000
1,000
1,000

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

1,000
1,000

1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

$112,000
3,362,000
2.009.000
3.858.000
444.000
1.233.000
552.000
2 ,000,000
2.428.000
300.000
2.100.000
2.482.000
2.163.000
12,367,100
1.692.000
3.600.000
200.000

498.000
3.650.000
400.000
1.912.000
2.717.000
580.000
271,700
700.000
(?)
16,654,000
10,000,000

Jan. 1, 1898
London.
J. & J.
A. & O. N Y., Union Trust Co. Apr. 1, 1911
Nov. 1, 1905
do
do
M. & N.
June 1, 1932
do
do
J. & D.
10 p. c. yearly.
S
Various N. Y., Kidder, P. « s Co.
July 1, 193«
In default.
J. & J.
Apr. 1, 1 9 2 «
None paid.
A. & O.
J. & D. N. Y., Central Trust Co. June 1, 1936
Apr. I f 1937
do
do
A. & O.
Aug. 1, 1 9 2 «
do
do
F. & A,
J. & D. N. Y., Corbin Bank’g Co. June 1, 1921
May 1, 1921
do
do
M. & N.
July 1, 1938
New York.
J. & J
Jan. 1, 1891
Boston, Office,
J. & J.
Mch. 1, 1894
do
M. & S.
1895-’96-’97
do
Various
Dec. 1, 1897
do
J. & D.
Apr. 1, 1904
do
A. & O.
1904 <s 1938
S
do
J. « s J.
S
July 1, 1894
do
J. < J.
fc
J. & J. Boston, N. E. Trust Co. Jan. 1, 1 9 1 «
& J. Int. funded till Jan.,’93 Jan. 1, 1937
May 1, 1 9 4 «
New York,
& D.
Jan. 1, 193T
do
& J.
Jan. 1, 1907
« s J.
S
Nov. 1, 191«
M. « s N.
S
6
« s J. N. Y., South. Pacific Co. July 1, 1927
S
5 g.
Apr., ’90, coup, last pd. Oct. 1, 1 9 0 «
« s O,
S
6 g.

6 g.
7
7
5
6
6
5
5 g.
5 g6 g.
6 g.
4 g.
5 g.
3*2
7
6
4*2
4*2
4
7
5
4 g.
5 g.
5
5 g.

Ohio V a l i e v . — Completed from Evansville, Ky., to Princeton on th e
July 1,1888, to the Southern Pacific Company, the lessee Pay™ gtoed Chesapeake Ohio < Southwestern, 99 miles; branches. 11 miles; total, 110
fe
charges and betterments. The statement dated Feb. 28, 1890, to tne | miles. In 1891 this company’ s stock was purchased by the Chesapeake
Ohio < Southwestern, which will guarantee the bonds. (See V. 52, p .
fc
c i p R a f s t o S Æ S $2Î , & 0,000; issued $!2,896,000, aU but 3 2 1 7 1 8 ) Of the old fives due in 1926 only $100,000 are outstanding.
S199 300 being owned by Southern Pacific Co. The consolidated 5s of The stock is $2,163,000; par, $100; oar liens, $113,421.
1888’’ issued^nderm ortgage for $21,000,000, are a first lien on 197
From Jan. 1 to Feb. 28, 1891 (2 months), gross1earnings were $50,098 against $32,363 in 1890; net, $22,246, against $8,126.
.
° I n yla r 1889-90 gross earnings were $210,140; net, $65^55 (agmnsti
<847 946 in 1888-89); interest on bonds, car trusts, etc., $12,792, rentals,.
in 1889. ( V . 50, p. 377, 391, 393.)
Itc ; $18!725 rbalance, $33,938. (V. 51, p. 6 0 7 ; V. 52, p. 321, 718.)
N o r w i c h As W o r c e s t e r .—Owns from Norwich, Conn., to Worces­
Old C olony (M a s s .)—Owns from Boston to Provincetown, Mass,,.
ter Mass 59 miles ; branch, Norwich to Allyn s Point, 7 miles ; total, 120 miles; lines to Kingston, Plymouth, Somerset Junction, New Bed­
6«mUel? Leased to New York & New England RR. for 100 years from ford, Lowell and Fitchburg, Mass., and to Newport, R. I., 249 miles, and
February 1,1869 ; rental is 8 per cent on preferred stock. Common numerous branches 113 miles in all; total owned, 48 2 m iles; lea ses- Bos­
f t o K |6,600. Notes payable, $300,000. In 1886-87, gross receipts, ton < Providence Railroad, Boston to Providence,44 miles, andbranche»
fc
$781,979 ; net, $293,108 ; payments for rentals, $40,220, interest, $27,- 24 m iles; other lines, 14 m iles; total owned and leased, 576 miles.
165 ; surplus over 8 per cent dividends, $17,900.
In 1888 a lease of Boston < Providence Road was made for 99 years.
fc
O ffd e n s b u r g Ac L a b e C h a m p la in .—Owns from Rouse’s Point, An increase of stock from $12,000,000 to $15,000,000 was authorized b y
N. Y., to Ogdensburg, N. Y., 118 miles ; leases for 99 years Saratoga & stockholders in November, 1889, to pay for new connections, etc.
Dividends since 1876—I n 1877 and 1878, 6 per cent; in 1879, n il; in St Lawrence RR., 9 miles. On June 1,1886, a perpetual lease of this
road was made to the Central Vermont RR. Co., the lessee to Pay mter- 1880 and 1881, 6; in 1 8 8 2 ,6 ^ ; from 1883 to January, 1891, both in­
ant mi thp. bonds The Offdensburg Transit bonds are guaranteed by clusive, at the rate of 7 per cent yearly.
,
.
tMs°comp any and the Celtral Vermont. Stock $3,077,000 (par, $100),
F r o m J u l y 1,1890, to March 31,1891 (9 months), gross earaings
were $6,123,670, against $5,845,081 in 1889-90; net, $1,568,43^
of which $1,612,500 is owned by Central Vermont.
.
From July 1 to March 31, 1891 (9 months), gross earnings were against $1,645,021; surplus over charges, $521,718, against $797,885.
$608,499. against $571,507 in 1889-90 ;. net, $176,323, against $187,Year now ends June 30. Report for 1889-90 was in V. 51, p. 382. In
505 : deficit under charges, $14,705, against surplus of $9,988.
the following the figures for 1889-90 are for the year ending June 3 0 In year ending March 31,1890, gross e a r n in g s were $838,632, net, all others for years ending September 30.
$265,988; surplus over interest charges, $30,222. In 1888-89 gross
INCOME ACCOUNT.
1888-89.
1889-90.
earnings $764,998 ; net, $241,097 ; s u r p lu s over charges, $5,479. (V.
1886-87. 1887-88.
5O ^ p 76*707; V. 51, p. 240, 788 1 V. 52, p. 322, 762.)
Receipts—
$
Gross earnings................ 4,865.571 6,322,628 7,726,312 8,020,29«
Ohio Sc M ississip p i.—Owns from Cincinnati, O., to East St. Louis1,684,961 1,995,036 2,059,85«
Ill., 339 miles; Louisville branch, North Vernon to Jeffersonville, lad., Net earnings.................... 1,332,576
135,72*
132,766
94,090
95,215
53* miles: the Springfield Division, Beardstown to Shawneetown, 111., Other receipts..................
228 miles; New Albany & Eastern, Watson to New Albany, Ind., 7 miles;
Total income............. 1,427,791 1,779,051 2,127,802 2,195,578total 628 miles. Organized November 21,1867, after foreclosure sale.
Disbursements—
$
Thé terms of preference in the preferred stock certificates were given
584 ,6 0 «
560,995
265,559
16,134
in the Supplement of May 2 5 , 1889, and previous issues. In Novem­ Rentals p a id ........-...........
658,67«
672,133
636,368
597,897
Interest on debt...............
ber 1890, the English shareholders appointed a committee to call m Dividends (7 per cent)---830,655
844,683
802,763
788,616
the common and preferred shares and to issue certificates therefor to the
64,019
107,615
74,361
25,144
holders and to protect generally their interests. See V. 51, p. b8i, 7ib. Improvement account...
Of the general mortgage of 1883 $12,142,000 is reserved to exchange
Total disbursements . . . 1,427,791 1,779,051 2,127,802 2,195,57«
for old bonds as they mature. Cyrus C. Hines, of Indiana, and Union —(V 50, p. 207, 622; V. 51, p. 172, 344, 3 8 2 , 458, 646, 681; V. 52, p*
Trust Company, of New York, are mortgage trustees.
239,718.)
■ . .
From July 1,1890, to March 31,1891 (9 mos.), gross earnings were
O m aha Ac St. L o u is .—Owns road from Council Bluffs, la., to Pat$*162,102, against $3,232,131 in 1889-90 ; net, $894,452, against
tonsburg, Mo., 144 miles. This company was formed m 1887 as suc­
cessor to the Omaha Division of the St. Louis Kansas City < N orther»
fc
IlMKdyeàr ends June 30. Report for 1889-90 in V. 51, p. 536.
(Wabash), sold in foreclosure. Preferred 6 per cent stock, non-ciunularINCOME ACCOUNT.
tive, $2,220,500; common stock, $2,313,000 deposited m trust till June*
1888-89.
1889-90. 1,1893; par, both, $100. Five coupons, including the coupon due Jan­
1887-88.
1886-87.
uary 1,1891, were funded into 5 per cent bonds, due 1937, but redeem­
$
$
4,214,747 able at option of company, the new bonds being secured by the cou3,955,165
3,977,559
Gross earnings....... 3,988,433
1,302,274 pons deposited in trust. (See V. 52, p. 81, 391.) See abstract of first
1,019,804
1,244,142
Net earnings........... 1,337,953
mortgage. V. 45. p. 213; full statement in Y. 44, p. 812.
Disbursements—
1,054,245
1,047,671
1,042,530
From July 1,1890, to March31,1891 (9 months), gross earnings wereInterest on debt---- 1,024,716
69,000 $405,135, against $460,635 in 1889-90. In fiscal year 1889-90 « 0 8 »
65,000
61,000
Sinking fund... — 57,000
96,600 were $615,775; net, $129,686; interest on first mortgage, $108,68080,377
29,931
Miscellaneous.............................
—(V. 50, p. 275, 452, 622, 875; V. 51, p. 7 8 6 ; V. 52, p. 81, 391.)
nw oi
1.081.716
1.133.461
1,193,048 1,219,845
Oregon Sc C aliforn ia.—From Portland, Ore., to Cahfornia Statu*
B a la n c f....... ".V.V.sar.256,237 sur.110,681 def.173,244 sur.82,329 line, 3?5 m iles; Albany Junction to Lebanon, 12 miles; West Side D ivi­
_ (V . 51, p. 303, 456. 5 36,681, 715, 786.)
sion. Portland to Corvallis, 97 miles; Woodburnto Cobiirg, Ore.3 0 miles*
O b lo Ac N o r t h w e s t e r n .—Cincinnati, O., to Portsmouth, O., 103 Total, 555 miles. Of the old sixes due July 1,1921, $82,000 are yeti
miles and branches, 26 miles. Sold in foreclosure March 13,1890, and out. The land grant was about 4,000,000 acres, part of which is eov eredi
purchased by the Investment Co. of Philadelphia, which owns a ma­ bv the mortgage, proceeds of land sales going to redeem bonds dr awm
jority of the bonds. In May, 1891, it was proposed to 18S^® f ^ > ^ .0 0 0 at par, unless purchasable lower. Trustee of mortgage. Union Trust.
common stock to retire first mortgage bonds at par and interest, and Company, New York. In 1890 net land sales subject to mortgage were*
<B594 000 preferred stock for prior liens, receivers certificates, «fee. 20,495 acres for $101,078 ; cash receipts, $33,711.
Reorganized in 1887 per plan in C h r o n i c l e , V, 44, p. 118.370. The
In* 1890 gross earnings ware $227,813 ; net over expenses and taxes,
road is leased to the Southern Pacific Company for 40 years from Janu­
$13,744.—(V. 48, p. 38, 68 ; V. 50, p. 276, 353, 392.)
ary 1,1887, the lessee guaranteeing interest on the bonds, and the lessor­
O blo R i v e r . —Owns Wheeling, W. Va., to Point Pleasant, W. Va., receiving any net profit and being chargedwith any deficit after pay­
168 miles, and Huntingdon, W. Va., 40 miles; total, 209 miles. The ment of charges and betterments. The Pacific Improvement Company
Ravenswood Spencer & Glenville is building a line m the:interest of tins owns the bulk of its $19,000,000 stock,
company from Ravenswood, W. Va.. to a connection with the West Vir­ cent preferred. In 1890 gross earnings on 474 miles were $1,927,889,
ginia & Pittsburg Railway at Glenville, and its 1 s t:mortimge bonds for net, $^96,8^0 (against $806,804 in 1889); total net meome m cludm g
§400,000 are guaranteed principal and interest. The stock authorized is interest received, $595,760; fixed charges, $855,190; deficit tor year*.
$6 000 000—outstanding $5,915,400; par, $100; car trusts, $143,896.
$259,439, against surplus of $142,187 in 1889, the loiss m 189'
* From January 1 to March 31,1891 (3 months) gross earnings were due to exceptional causes, storms, etc.—(V, 48, p. 828, V. o i, p. a iu .)
$134,557, against $131,018 in 1890; net, $41,495, against $49,212. _
* In 1890 gross earnings, $680,972; net, $315,013 ; interest, $221,400; ■ Oregon Pacific.—Projected from Yaquina, on Yaquina Bay, Ore.^
f ’3^
taxes etc., $38,520; surplus, $55,093. In 1889 gross, $589,770, net, to easlern boundary of the State, about 600
$289,471; surplus over interest and taxes, $51,476. George W. Thomp­ near summit of Cascade Mountains, are completed and in^operation , 3«*
miles more are finished, and 40 miles are ready for the
son, President, Parkersburg, W. Va. (V. 50, p. 7 6 9 ; V. 51, p. 416, 680.)
000 acres are covered by first mortgage,, also ^ ® ®
9.u>pment. FarmO hio S o u t h e r n .—Own Springfield, O., toWellston, 118 miles, and ers’ Loan < Trust Company, trustee of the mortgage. Se© abstract on
fc
branches, 22 miles. Stock authorized, $5,500,000; outstanding, $3,- same in V. 49, p. 240. Stock is $30,000 per irnle. Default was made
840 000—par $100. General mortgage of 1889 is to the Central Trust
«inft October 1 1890 and Mr. T. E. Hogg, the President, wasCompany) as trustee. Gross earnings in 1889, $525,657 ; n®^$^41,n o q . surplus over charges (interest $142,800, taxes, «fee., $23,408), S
I
York. (Y. 47, p.K ; V. 48, p. 452, 662 ; Y. 51,€ 7i SugS»?M 1,e"
218
p. 458, 609.) rt’
§75 021. Alfred Sully, President. (V. 50, p. 72.)




1 0 6

ENVESTOitS’
---------

SUPPLEMENT.
WWAAiiLuam, Xl

fvou

l h;

Subscribers w ill confer a great favor tby g iv in g im m ed ia te notice o f a n y error discovered In these T a b les.
RAILROADS.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
$or explanation o i column headings, &c., see notes of
of J Par
When
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable Where Payable, and by Stocks—Last
Whom.
Dividend.

Oregon, Railway & Navigation—Stock...................
$100 $24,000,000
1^
Q .-J . Boston, Office, Equit.Bld
1st mort. bonds, gold, sink. fd. (drawn at 100) c
1879
1,000
5.311.000
6 g. J. & J N.Y., Un.Tr.Co.&Bost’n
Consol, mortgage, gold, $25,000 per mile........ c&r
1885
1,000 12.983.000
5 g. J. & D
do
do
Collateral trust, gold, redeemable at 105.......... c*
1889
1,000
4.000.
000
M. & S,
do
do
Oregon Short Line & U. Nor.—Or. Short. L. 1st M.,g. 610 1882
1,000 14.931.000
F. & A, N.Y., Un.Tr.Co.&Bost’n
Utah Southern 1st mortgage, currency................
1871
424.000
& J
do
do
Utah So. mort., S. Lake to Juab (for $1,950,000)' c Ï05 1879
ï,Ôôo
1.526.000
J. &
do
do
Utah South. Extension., 1st M., Juab to Frisco.c 138 1879
1,000
1.950.000
& J
do
do
Utah. & Northern 1st mort., $12,000 per mile el 462 1878
1,000
4.995.000
& J
do
do
•Consol. M.,guar., $15,000 p. m.,s. f.not dr’n.g.c
466 1886
1,000
1.865.000
& J
do
do
Equipment bonds ($35,000 payable yearly)..
1887
1,000
214.000
& O
do
do
Idaho Central 1st mort. Nampa to Boise City c
" Ï9 1887
1,000
143.000
& J,
do
do
onsol. M. (1st on 201 miles) gold, red. at 105. c; 1,456 1889
1,000 10.476.000
& o.
do
do
ollateral trust, gold (redeemable at 105) guar.c*
1889 500 &c. 12.500.000
M. & S.
do
do
Oregon & Washington Ter.—1st mortgage................
”56
1.142.000
J. & J. N. Y., Farm. L. & Tr. Co.
Oswego < Rome—1st mortgage, guar..........................
6
28 1865
1,000
350.000
M. & N. N. Y., Gr. Cent. Depot.
7
2d mortgage, gold, guaranteed by R. W. & 6 .. .c*
28 1891 i 1,000
400.000
5 g. F. & A.
do
do
Oswego < Syracuse—Stock, 9 p. c. guar., D. L. & W.
&
35
50
1,320,400
F. & A N. Y., Del. L. & W. RR.
412
Consol, mortgage (guar. D. L. & W .)...,............
1876
1,000
438.000
7
M. & S'
do
do
Construction M., guar. prin. &int.(for$i,000,000)
35 1883
1,000
668.000
5
M. .& N' N. Y., Farm. L. & Tr. Co.
Owensboro < Nashville—1st mortgage, gold..........c*
6
88 1881
1,000
2.000.
000
M. & N‘
New York.
Pacific Short Line—Nebraska West. 1st mortgage. 130 1689
1,000
2.600.000
S * J. & J' N.Y., Manhattan Tr. Co.
Panam a—Stock............................................................^ 48
100
7,000,000
2
Var. ' N. Y., Of., 15 Broad St.
General mortgage, sterling.................................... c
48 1867
£200
2.989.000
7 g. A. & O. N.Y., 15 Br’d St.& Lond.
Sinking fund subsidy mort.,gold, drawn at 100.c*
48 1880
1,000
2.404.000
6 g. M. & N. N. Y., Of., 15 Broad St.
Paterson < Hud.—Stk.,8 p.c.perp.rent.N.Y.L.E.&W.
£
15
50
630,000
4
J. & J.
New York.
Valley—1st mort., gold, $12,000 per mile., c*
90 1890
1,000
1.080.000
5 g. A. & O. N.Y., Mercantile Tr. Co.

g

Apr. 1, 1891
July 1, 1909
June 1, 1925
Sept. 1, 1919
Feb. 1, 1922
July 1, 1891
July 1, 1909
July 1, 1909
July 1, 1908
July 1, 1926
Apr.l, yearly.
Jan. 1, 1917
Apr. 1, 1919
Sept. 1, 1919
May 1, 1915
May 1, 1915
Feb., 1891
1907
May, 1923
Nov. 1, 1931
July 1, 1929
Mch. 27,1891
Oct. 1, 1897
Nov. 1, 1910
Jan. 2, 1891
Oct. 1, 1920

Oregon R a ilw a y & N av ig a tion .—M a i n L i n e — East Portland,
+!*,e
a?.d sec„oad mortgage bonds, both of which are endorsed
©re., to Huntington, Ore., 401 m iles; branches 628 miles; total oper­ wi+h Q
ated January 1,1891,1,029 miles. Ocean line between San Francisoo with the j^uarahty of the Rome Watertown & Ogdensbur«1 Stock is
common, $225,000; preferred, $75,000; par, $ 10«
**'
apd Portland, 670 miles.
Leased for 99 years from January 1,1887, to the Oregon Short Line &
O s w e g o & S y r a c u s e .—Owns from Oswego, N. Y., to Syracuse N
Utah Northern RR., rental being 6 per cent per annum on stock and in­ Y., 35 miles. Leased m 1868 during length of charter and renewal
terest on its bonds. This lease (see abstract V. 45, p. 539) is guaranteed
tbe Delaware -Lackawanna & Western Railroad Company for
by the Union Pacific. In 1889 the Oregon Short Line Co. purchased a 9 per cent per year on $1,320,400 stock and interest on bonds
majority of the stock.
v m WF n85 ? r ® ,& N a s h v ille .—Owns from Owensboro, Kv. toAdairThere is a sinking fund of $60,000 per year, plus interest on bonds v}Pe>py., 84 miles; Mud River Branch, 4 miles. Onerated bv t ™ S
canceled for sinking fund (making $96,880 in all in year 1888-89) for ville & Nashville Railroad, which owns $1,014,000 of the $1 156 518
the bonds issued in 1879, to buy bonds at or below 110, or else draw stock (par, $100) and $1,200,000 of the first mortgage bonds_all these
toem at par on January 1, bonds so paid being canceled. The Farmers’ ?889S
qcn^
St ° f then st° ck ^ n g Pledged under its t S deeds In
Loan & Trust Co. is trustee of the 1st and the consolidated mortgages
1889-90 surplus over fixed charges $42,136, against $31,148 in 1888-89.
The collateral trust issued in 1890 (trustee American Loan & Trust 1
Liwe^Completed from Sioux City to ONeill, Neb.,
Company of Boston) provides for the issue of $25,000,000 bonds. The
Pacific Improvement Company, with a
entire issue (but not less) may be redeemed on seven months’ notice at afmi
n S r 000,000, had the contract for building the^iine from
105 and interest. See abstract of mortgage and of the mortgages se­ Sioux City to Ogden, a distance of 960 miles. The road was bein0 built
,
curing the bonds pledged in V. 51, p. 243.
f ^ m thh
„re^ ^ 0rp0?a4e titles- Y1ZV
Nebraska &
Dividends since 1876—In 1879, 2 per cent; in 1880, 8 and 10 scrip; from r the Missouri River westerly to the WyomingWestern, ^ te n ffin g
line 390 mile«** thA
in 1881 and 1882, 8 ; in 1883, 10; in 1884,
in 1885, 4 ^ ; in 1886
ak^v^?AI1’i lTi0Sf w y°m mg to the Utah°line, 460 miles;’ and
7 ; in 1887 and 1888, 6 ; inl889, 7 (1 per cent being extra out of assets) toe
Lake.VaUey & Eastern, extending into Utah to Ogden, 110 miles
in 1890, 6; In 1891, January, H 2; April, 1^.
These several companies were eventually to be merged into one—the
From January 1 to March 31 in 1891 (3 months), gross earnings of Pacidc Short Line. The road is to be sold in foreclosure within a short
railroads were $1,232,088, against $652,049 in 1890; net, $340 268
i e r s were
against deficit of $166,154. In 1889 gross, $4,576,136; net,$1,575 351: 3 s to tlio financial condition rof vthe propertyappointed and the5 reJort
>
issued in Ar>rii i sqi wo.a
rental received $2,414,960; loss to lessee after deducting credits and
V.e52,pV571.)P'
* «R S V S S i
lTp!
adding loss on Water lines ($17,570), etc., $744,422. In 1890 gross § i o ; ‘ 8
$4,954,711; net, $908,336; rental received $2,556,593 ; other expenses
P a d u c a h T e n n e s s e e & A la b a m a .—In operation from Paducah
met by lessee (loss on water lines $70,517, interest on Northern Pacific
Terminal bonds $55,415, etc.) $140,933; loss to lessee, $1,789.190 —(V
49 mU6S’ and t0 be bailt t0 Sheffield, Ala.’,
50 p. 70, 706, 771, 910; V. 51, p. 243.)
’
1
Oregon Short Line & U tah N orth ern .—Owns road from JfmuarvTsa ls ^ ^ T u f o 1 1 k 0-^ n^ ° Manama, 48 miles. Opened through
1
1
inn5'«
subsidy bonds are secured by a pledge of the
Granger, Wyoming, to Huntington, Oregon, 542 m iles; branch Sho­ «um cf
H
shone to Ketchum, Idaho, 70 m iles; Ogden to McCammon, Idaho 110 r n m 2 n f ° a » S ! U subsidy payable to the U. S. of Colombia by toe
m iles; Pocatello to Silver Bow, Montana, 256 m iles; Lehi Junction to and P
S4Ul' oon ^nf ?hA d Si^e uam°,ve ^ outstanding $249,000 of the 7s
|a
Tintic, Utah, 54 miles; Ogden, Utah, to Frisco, 275 miles; sundrv ana $4ix,000 of the 6s are held by the sinking fund of the 7s of 1867
branches, 114 miles (of which 40 miles narrow gauge); total 1 421 In June, 1881, most of the stock was sold to parties interested in the De
miles. Also leases and controls the Ore: R. & Nav. Co., whioh see’ above Lesseps Panama Canal Co. The report for 1890 was in Chronicle, V.
^ -s h o w in g n e tm c o m e o f $922,500, against $937,300in 1889,
This company was formed in 1889 by a consolidation of the Oregon W
Short Line, the Utah Northern and other lines. It is controlled by the and a surplus over charges of $348,873, against $384,150. Dividends
Union Pacific Railway Co, which operates it under a traffic agreement 1880
18T L T i 78’ 12 per 13L> in 18Q *3 tu
* xn 1881, 34 26; in 1882, d o ?q : in 1883 oent; • in 1879* 11ft;* fn
12^4.
Oregon Railway & Navigation stook for $13,940,700 is owned $12 500.000 being depositedas security for the collateral trust bonds of 1885, 10; in 1886 and 1887, nil; in 1888, 2 6 ; in 1889 9* in 18*90
March 27, 3*%; Dec. 16, Us; in 1891, March 27, 2. (V. 50, p 482* V*
*.
1889. There is a sinking fund for this issue, but not less than the Oj 9p. 5 o9 .)
u
* *
whole amount can be called for payment, and that only at 105 The
Union Pacific guarantees both principal and interest of the collateral
P a t e r s o n & H u d s o n .-O w n s from Weehawken, N. J., to PatersOfl.
trust bonds, and on January 1, 1891, held $4,631,000 of them in its of « is f n n ^ 63. The road was leased in perpetuity in 1852 at a rental
treasury, together with $1,811,000 consolidated 5s. Trustee is Ameri­
.T ™ “
“ * H ew Vw *
Erie 4
can Loan & Trust Co. of Boston. See mortgage abstract, V. 51 p 243 W «!tem £
The consolidated mortgage due 1919 (trustee, American Loan & Trust
Company) is a first lien on 201 miles and a second on 1,255 miles Suf­
ficient bonds are reserved to retire prior bonds when due, and the total
ague on the road in operation is not to exceed, including prior liens
$25,000 per mile. Bonds may be issued for extensions at $25 000 per
T P « Company i t New
mile (unless a majority of the bondholders object) and additional amounts
for terminals and second track, but not exceeding in the aggregate
P e n n s y l v a n ia .—(See M a p )— ine of R oad—The Pennsylvania ™
L
000 per mile of double track. The issue is redeemable (but only as a
whole) on any coupon day at 105 and interest. There will be a sinidnofund when earnings suffice, but for this no bonds can be drawn The
Union Pacific guarantees interest on this issue under a traffic agreement;
See abstract o f mortgage V. 51, p. 242.
Erie Division 546; United Railroads of New Jersey and b r a n c h e s ^
total operated, New York to Pittsburg, with branches 2 434ncnes’ 448>
road^as“uatea April 13,1846. ~ The Harrisburg the Pennsylvania Raill
3 atedAmUA f Si ^ f i ^ f ? ? artiei' of Portsmouth Mount Jov
From Jan. l t o March 31, in 1891 (3 mos.) gross earnings were $1 793 - *
914, against $1,380,321 in 1890; net, $712,489, against $285 052
’ mainlineter 18 8t^ operated under a lease, though forming part o f the
Report for 1890 was in V. 52, p. 679, showing the follow ing:
The Pennsylvania C o m p a n y was organized in 1870 a.q an anTiiia™
INCOME ACCOUNT.
corporation to control all the lines wesl o f Pittsburg & Erie, the Penm
1889.
sylvania Railroad Company holding all its stock.
1890.
1,397
1,464.
P ° nds.—The Pennsylvania Railroad stock has been in$
from time to time, cluefly by the sale of stook at par to stock­
$
. 6,512,345
7,488,031 holders, for tbo purpose o f raising capital for new acquisitions, etc
. 2,628,665
In March, 1890, $20,000,000 new stock was authorized bv stock­
2,334,047
449,452
884,165 holders for improvements and additions as required, and the President’s
remarks on tins policy were given in Y. 50, p. 392. Of this $20 000 OOO
. 3,078,117
3,218,212 stock, towards one-half has been issued and is included in th e a m o Z t
outstanding m the table above. See Chronicle, Y. 50 d 622 801
JHsbursementsDividends since 1 8 7 0 -In 1871,1872, 1873 and 1874 1 0 ncr ^nt.
. 1,834,879
2,577,412
each year; m 1875 and 1876,8 per cent each year; in 1877 4 -^n 187^
Sinking fund...................... ; .....................
15,423
201,110
Loss on leased lines (Ore. Ry & Nav. system))
736,206
1,789,190 2; m 1879, 4 ^ ; in 1880, 6 and 1 per cent in scrip; in 1881 8- in 1889
Miscellaneous.................................... .
201,811
47,182 8 ^ ; in 1883, 8 ^ ; in 1884, 7 ; in 1885 and in 1886 5 in i 887^ i • fn
29 I ^ I n l l o i V ^ v SSn3 ^ t h ly ; in »1890’ Ma7 29^ 3 per cen t; No™
. 2,788,319
4,614,894
189l!r (See Y ^ T p . 718J ’^ 8CriP*
sur.289,798 def.1,396,682 convertible iuto’ stock till August l , C
,242, 243 ; V. 52, p. 679.) Price)—to l^ S o f lS ^ O T ^ ^ f ^ i g S l^
F O s w e g o & R o m e . —Owns from Richland, N. Y., to Oswego N. Y
29 miles. Leased in perpetuity to the Rome Watertown & Ogdensburg
4738®| 2; in 1891,’to May 22, t o c l S ? 4 9 ^ ® ! l ’ 50* ® * 6 5
561
Railroad, and operated by the New York Central; annual rental is interThis company owns $10,890,9*0 stook of the Philldelphia Wilmington




»07
BONDS.
AN D
STOCKS
RAILKO Al)
, 1891.1
y

Ma




INVESTORS’

1 0 8

SUPPLEMENT

[Y ol. M L

Subscribers w i ll confer a great fa v or b y g iv in g Im m ed iate notice o f any error discovered In tbese T a bles.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
of
For explanation o f column headings, &c., see notes of
Par
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Pennsylvania—Stock....................................................
Gen mort., $ & £ , coup, int., J. & J., reg. A. & O.
Consol, mortgage, sink, fund, not drawn...............
Consol, mort., coupon int. M&S., reg. Q—M., gold
Bonds (P. W. & B. stock as collat.) 8. f., not d r n .r
Navy Yard mort. (extended 20 years in 1881).. .r
Collateral trust loan, gold (s. f. ^ p. c.) not dr’n.c*
Penn. Car Trust (in series payable i )0 yearly)___
Equip.Tr. (ser. “ A” to “ H,’’payable oné-íenth y’rly)
Equip. Tr. gold loan b’ds (s. f. 5 p.c.) not dr’n .. .c*
Mortgage and ground rents payable.....................
Pennsylvania Company—Stock..................................
Bonds, sec. by P. Ft. W. & C. stock (s. f.dr’n at 105.r
Bonds, g., sec. by pl’ge & guar. (s. f. not dr’n)c*&r
Pennsylvania Northwestern—Stock........................
Bell’s Gap 1st mortgage, Bells Mills to Lloyds.c*
Extension 1 st mortgage..................................... c*
Consol, mort. (for $550,000) s. fund not dr’n.c*
Clearfield & Jefferson lstm ortgage....................c*
Penn. & N. W. gen. mortgage for $1,660,000.....
Pennsylvania Poughkeepsie < Boston—1st M., g. .c*
&
2d mortgage for $500,000, gold..............................
Pensacola < Atlantic—
6
1st M., gold (s. f. dr’n at 110), guar, by L. & N. .c*
2d mortgage (2d on lands)....................................c*
Land grant bonds— ................................................
P eoria <& Bureau Val.—Stk., 8 p. c. rent’l C. R.I.&P.
1st mort., gold (Peoria Div., Pekin to Mattoon) c*
1st m. (Evansv.Div., Mattoon to Evansville,) g.c*
Second mortgage, g o ld .........................................o*

1867
1873
1879
57Ï 1881
1876
1883
1881-4
1886-9
1889

455
455

63
8
26
26
37
63
73
73
160
160
47
110
135
238

1877
1881
1873
1875
1883
1886
1890
1889
1890
1881
1888
1884
1880
1880
1886

$50 123,082,050 3 see rem
1,000 19,997,820
6
1,000 27,480,020
6
1,000
4,998,000
5 g.
1,000
4
7,915,000
5,000
5
1,000,000
1,000
9,900,000
41
2g.
1,000
5
2,325,000
1,000
4
5,900,000
1,000
2,932,000
4 g.
3,084,286
50 20,000,000
1,000
1,543,000
6
1,000 19,467,000
4*2g.
50
1,660,000
2^2
500
180,500
7
1,000
88,000
6
50Ó &c.
158,500
6
500 &c.
1,000,000
6
1,000
233,000
5
1,000
1,500,000
6 g1,000
160,000
6 g.
1,000
1.000
1,000
100
100
1,000
1,000
1,000

& Baltimore Railroad, and the four per cent bonds of 1921 are purchased
yearly, if obtainable at not over par, -with the surplus proceeds of Phila­
delphia Wilmington & Baltimore dividends.
Interest on general mortgage 6s of 1867 is payable on coupon bonds
January 1 and July 1; on registered bonds, April 1 and October 1. In ­
terest on consolidated 6s o f 1873 is payable on coupon dollar bonds
On June 15 and December 15 ; on coupon sterling bonds, January 1 and
July 1 ; on registered bonds quarterly, March 15, &c. Interest on
consolidated 5s of 1879 is payable on coupon bonds March 1 and Sep­
tember 1 ; on registered bonds, quarterly, March 1, &c.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
The equipment trust bonds of 1889 have a sinking fund of 5 per cent
yearly, and if bonds cannot be bought at par the sum is to be invested
m new equipment to be subject to thè trust.
O p e r a t i o n s , F i n a n c e s , & c . —The total cost to the Pennsylvania Rail­
road Company of the stocks and bonds of other companies held in its
treasury was, up to January 1,1891, $113,183,734 (par value of the
came, $150,993,328), most of which is represented on the other side of
the balance sheet by issues of Pennsylvania Railroad stock and bonds
and other debit items ; the balance to credit of “ profit and loss ” was
$22,017,793.
Its guaranteed securities are bought up by the Pennsylvania Railroad
Company with 1 per cent of the net income yearly, and $7,125,050 so
urchased were held on January 1,1891. The sinking fund for consols
anuary 1, 1891, held—Consols, $1,771,980; real estate mortgages,
$2,093,900; cash, $29,813.
From January 1 to March 31, 1891 (3 months), gross earnings on
lines east of Pittsburg and Erie were $15,270,501, against $15,464,117
in 1890; net, $4,323,614, against $4,348,448 in 1890. For same
periods on lines west of Pittsburg and Erie gross earnings in 1891
showed a decrease of $861,368 compared with 1890 and the net earn­
ings a decrease of $304,513.
The report for 1890 was in the C h r o n i c l e , V. 52, p. 371, 389, 392. A
summary of the total business of 1889, compared with previous years,
is shown in the following :
EARNINGS ON ALL LINES BOTH EAST AND WEST OP PITTSBURG & ERIE.
1888.
1889.
1890.
Gross earnings.................... $116,509,293 $122,917,337 $133,521,623
Operating expenses............
80,737,336
83,811,128
92,003,365

J

Net earnings................ $35,771,957
$39,106,209
$41,518,258
The income account has been as follows, the “ net income ” given in
the first line being the amount of income after deducting interest pay­
ments.
INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.

Net income Penn. RR. Div’n
Net loss or gain on N. J. Div.
Loss on Pitts. & Erie D iv ...
Balance.......... ................
From this balance deduct—
Advances to Penn. Co........
Payments to trust fund.......
Consol, mortgage redeemed.
AUegh.Val.RR.Co.—Defic’y.
Penn. Canal on acc’t of int.
Am.SS.Co.-To meetint.guar
Extraordinary expenses___
Balance to credit of income
Dividends.............................
To credit of profit and loss.
Bal.in set’m’t of claims, &c.
Expenses of floods June,’89.

1888.
$
9,979,299
—160,501
9,637

1889.
$
10,870,351
+138,712
16,316

1890.
$
11,030,401
+396,885
1,644

9,809,161

10,992,747

11,425,642

87,433
324,800
160,179
188,510
45,000
1,530,913

93,498
324,800
119,005

1,020,000
71,121
324,800
100,730
90,000
1,161,547

1,632,024

2,768,198
2,336,835
2,169,327
7,040,963
8,655,912
9,256,315
(5) 5,327,270 (5) 5,327,270(512)6,241,873
1,713,693
—93,272
............

3,328,642
+119,370
—2,609,325

3,014,442
............
1,064,704

Balance......................... .
1,620,421
838,687
1,949,738
Bal. profit and loss Dec. 31.
19,229,369
20,068,055
22,017,794
—(V. 50, p. 139, 276, 314, 335, 3 4 8 , 354, 392, 452, 561, 590, 622, 771,
801, 904; V. 51, p. 876; V. 52, p. 322, 371, 3 8 9 , 3 9 2 , 479, 498, 681.)
P e n n s y l v a n ia C o m p a n y .—
The Pennsylvania Company is a cor­
poration chartered by the Pennsylvania Legislature, April 7,1870, dis­
tinct from the Pennsylvania Railroad, and it operates all the leased
lines west of Pittsburg. Its stock and $2,500,000 4 ^ per cents are
owned by the Pennsylvania Railroad Company. Besides the bonds
given above as outstanding $1,657,000 of 6s and $533,000 of 4^8 are
held in the sinking fund.
The registered bonds are secured by deposit of $4,000,000 of Pitts­
burg Fort Wayne & Chicago special stock. The gold bonds of 1921 are
secured by a deposit in trust of the leases of the Pittsburg Fort Wayne
& Chicago and the Cleveland & Pittsburg railroads and are also guar­
anteed by the Pennsylvania Railroad Company, the trustees of the
mortgage being Wistar Morris, John P. Green and Henry D. Welsh.
The whole number of miles operated or controlled by this company is
3,496. The income account has shown the following results after pay­




3,000,000
360,000
925,000
1.500.000
8.380.000
1.287.000
1,470,000
2,088,000

M. & N. Philadelphia, Office.
Various Phila. Office & London.
Various Phila. Office & London.
Various Philadelphia. Office.
J. & J.'Phila.,Pa.Co.for Ins.&c.
J. & J. Phila., Pa.Co.for Ins.&c.
J. & D. Phila.,Provid’tL.&T.Co.
Quar’ly.
do
do
Q.—F. Phila., S. Dep. & Ins. Co.
M. & S..Phila., Gir’d Life &c. Co.

May 29, 1891
July 1, 1910
June 15,1905
Dec. 1, 1919
July 1, 1921
Jan. 1, 1901
Jung 1, 1913
1891 to 1894
1891 to 1899
Sept. 1, 1914

.......
Q.—J.
J. & J.
J. & J.
J. & J.
F. & A.
A. & 0.
J. & J.
J. & J.
J. & J.
J. & J.

For 1883
July 5, 1907
July 1, 1921
Jan. 2, 1891
July 1, 1893
Aug. 1, 1905
Apr. 1, 1913
Jan. 1, 1927
Jan. 1, 1930
Jan. 1, 1939
Jan. 1, 1910

Pittsburg, Co.’s Office.
Phila., Tr. S. D. & I. Co.
N. Y., Nat’l City Bank.
Phila., Guar. Trust Co.
Phila., 105 S. Fourth St.
do
do
Phila., Guar. Trust Co.
do
do
do
do
July,’90, coup, last paid
do
do

6 g- F. & A. N. Y., 20 William Street. Aug. 1, 1921
do
do
Feb. 1, 1928
6
F. & A.
do
do
Apr. 1, 1894
6
A. & O.
4
F. & A. N.Y. ,Ch.R.I. & Pac. RR. Feb., 1891
6 g- J. & J. N. Y., Central Trust Co. Jan. 1, 1920
do
do
Sept. 1, 1920
6 g. M. & S.
do
do
Nov. 1, 1926
5 g. M. & N.

ment of all charges: deficit in 1884 of $710,220; deficit in 1885 o f
$1,094,671: deficit in 1886 of $200,674; in 1887, net profit, $675,516;
m 1888, loss, $74,891; in 1889, net profit, $727,802; in 1890, net
profit, $1,081,958. (V. 50, p. 590.)
P en n sy lv an ia &. N orth w estern .—Owns Bellwood, Pa., to
Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total, 63
miles. A consolidation January 1, 1890, of the Bells Gap and Clear­
field & Jefferson roads. Before consolidation Clearfield & Jefferson
paid a dividend of 2*2 per cent, and Bells Gap paid: In 1882,15 scrip;
fn 1883, 6 ; in 1 8 8 4,3 ; in 1885 to 1888, inclusive, 5 ; in 1889. 2ta.
Since consolidation dividends have been—in 1890, 5 per cent; in 1891,.
Jan. 2, 2ia. Of the $1,660,000 general mortgage bonds authorized, suf­
ficient are held to retire the prior issues, when due. Five per cent car
trusts due 1891 to 1900, $473,000. In April, 1891, it was voted to in­
crease the stock from $1,660,000 to $2,000,OoO, for double tracking, AcGross earnings in 1890, $809,042; net, $250,388; surplus over
interest, $144,320. E. J. Berwind, Pres’t, Philadelphia.—(Y. 50, p. 37 >
P en n sy lv an ia Poughkeepsie & B o sto n .—Owns from Slatington, Pa., to New Jersey and New York State line, about 73 miles. Con­
nects with lines running to the Poughkeepsie Bridge. Completed in
November, 1889. Trustee of 1st mortgage o f 1889 is the Holland Trust
Co. Interest was defaulted January 1, 1891. and in February, H. HKingston, of Easton, Pa., was made receiver. There are car trusts pay­
able at the Atlantic Trust Co., New York City. Stock is $2,000,000;
par, $50. President, W. W. Gibbs, Philadelphia; Vice-President, Gen.
J. W. Husted, New York v
City. (V. 50, p. 353, 423; V. 51, p. 609 ; V.
52, p. 351.)
P en sacola & A tla n tic .—Pensacola, Fla., to River Junction, Fla.,
160 miles. Operated by Louisville & Nashville. Stock, $3,000,000 (par
$100), $1,556,300 of which, and $1,000,000 first mortgage bonds, all
the seconds and $925,000 land grant bonds were on June 30,1890, held
by Louisville & Nashville, the first mortgage bonds and $1,550,000
stock being pledged under its 10-40 mortgage; 1 1 -1 0 per cent of first
mortgage bonds may be drawn annually at 110. Land grant unsold
June 30, 1890, 1,421,920 acres; sales in 1889-90, 33,054 acres for
$33,395. In year ending June 30,1890, gross earnings were $368,839;
net, $21,687; deficit for year under interest, &c., $178,835, against
$209,671 in 1888-89.
Peoria & B u reau V a lley.—Owns from Bureau Junction to Peo­
ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
P eoria D ecatur A E v a n sv ille .—(See Map Evansville d Terre
h
H aute.)—Owns from Pekin to Evansville, 235 miles; branch, 6 miles;
leases, Pekin, HI., to Peoria, 111., 10 miles; through Decatur, 3 miles;
total, 254 miles. This road is a consolidation of the Pekin Lincoln &
Decatur Railroad and the Decatur Mattoon & Southern and the Grayville & Mattoon. It is operated in harmony with the Evansville & Terre'
Haute. The 1st mortgage bondholders have the right to cast ten votesfor each of their bonds at stockholders’ meetings. Fiscal year now
ends June 30. Last report in V. 51, p. 679. In 1889-90 gross earningswere $778,912 (against $740,587 in 1888-89); net, $322,451; interest
on bonds, $269,820; other nterest, $16,371; rentals, $28,500; cartrusts redeemed, $33,000; deficit for year, $25,240; due Evansville
& Terre Haute, $168,255. (V. 50, p. 107; V. 51, p. 570. 679.)
P eoria & E astern .—Owns from Pekin HI., to Indianapolis, Ind.,
202 miles, and has a lien of $5,000,000 on Springfield Division,'In­
dianapolis to Springfield, 140 miles. This road is operated by Cleveland
Cincinnati Chicago & St. Louis.
The Ohio Indiana & Western was sold in foreclosure February 20,.
1890, and reorganized per plan in C h r o n i c l e , V. 49, p. 616. Its suc­
cessor, the Peoria & Eastern, is leased till April 1,1940, to the Cleve­
land Cincinnati Chicago & St. Louis, which guarantees the interest, but
not the principal, of the first consols, and owns one-half the $10,000,000
stock, par $100. If the Peoria & Eastern’s earnings added to the net in­
come (up to $200,000) over operating expenses of the Springfield Divi­
sion of the Ohio Indiana & Western exceed the sums necessary to
pay the Peoria & Eastern’s fixed charges and to reimburse the Big Four
for all advances up to that time, the surplus is to go to the second con­
solidated incomes, and then if a surplus remains this is to go to the
Peoria & Eastern itseif. The consolidated mortgage of 1890 covers, be­
sides the road owned, the $5,000,000 purchase money lien on the Springfield Division. See abstracts of the consolidated mortgage and of the
consolidated income mortgage in V. 51, p. 246, and of Ohio Indiana &
Western mortgage, V. 47, p. 201. From Jan. 1 to March 31,1891 (5
months), gross earnings were $366,970, against $383,342 in 1890; net,
$79,619, against $97,377. (V. 50, p. 72,314,423, 801,834; V. 51, p. 246.)
P eoria & P ekin U n io n .—Owns from Pekin to Peoria, 10 mile^ on
each side of niinois R iver; total operated 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria RR.
companies, and they pay a rental for the use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Receipts in
1888, $412,433; net, $176,110; surplus over interest and charges,
$11,355. In 1889, gross, $453,643; net, $200,009; surplus, $36,938.
P e r k i o m e n .—Owns from Perkidinen Junction, Pa., to Emaus Junc­
tion, Pa., 39 miles. Stock subscription, $38,040. Reorganized in 1887.
There was due Philadelphia & Reading RR. November 30,1888, on loan
account, $781,120; on current accoutft, $148,830. In year ending November 30,1889, gross earnings were $220,613; net, $73,945; deficit
under interest, $22,284, against $40,785 in 1887-88.

BONDS.
AND
STOCKS
RAILROAD



n

o

INVESTORS’

SUPPLEMENT.

[VOL.

L II.

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T a b les.
_________________ RAILROADS.________________
Bonds—Princi­
INTEREST OR DIVIDENDS.
Tor explanation of column headings, &c., see notes Miles Date Size, or
pal,When Due,
Amount
of
of
Par
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstandins Cent. Payable
Whom.
Dividend.
Peoria < Bastern—Ind. Bl. & W. 1st mort., pref..c&r
6
Ohio Indiana & Western 1st mort., pref., gold c*
. Consol, mort. for $10,000,000, interest guar ’ c*
2d consol, mortgage, income, non-cumulative. . c
Peoria < Pekin Union—1st mortgage, gold
£
c
2d mortgage, gold (issued for incomes) ............c
Perkiom en—1st M., ser. I (1st l’n) gu. by P.&R g c*
1st M., ser. 2 (2d l’n) g., guar, by P. & R. (end.).c*
Petersburg—Stock.................................................
Guar. pref. stock, 3 per cent, lien prior to mortg
1st mort. (payable $25,000, due yearly Jan. l)e&r
Mort. bonds, class A ,$200,000 reserved for 1st M
Mortgage bonds, class B ..........................
Philadelphia &Baltimore Central—Stock..........
Gen.M. (Newlst M.)for $2,500,000,$1,075,0004i/s
Phila. (6 Brie—Sunb. & E. 1st mort. (ext. in ’77) c&r
Gen. M., g.,guar.by Pa.RR.($5,263,000 g., 5s).c&r
General mortgage, gold, guar................ . .
r
Phila. Germ. < ChestnutH ill—1st M., gu. by Pa. RR.r
6
Phila. Germ. &Norrist’n—St’k 12p.c.rent.,P.&R.RR.
Phila. H arrisburg < Potomac—1st M. for $2,000,000
S
Philadelphia < Reading—Stock
6
1st mortgage, $ and £ ........ ........ ..................... "0
Mortgage loans o f 1844,1848 and 1 8 4 9 c
Mortgage loan of 1857 convertible......
'c
Mortgage loan of 1868............
"0
Consol, mort. ($8,162,000 are gold 6sj. . ............. c
Impr’tM ., g.,s.f. drawn at 100. See Y. 48, p .2 60.c

202
342
202
202
20
20
38
38
59
59
59
59
79
’ 79
40
287
287
7
29

1879 $100&c. $ 1,000,000
7
J. & J. N. Y., Drexel, M. & Co.
1888 500 &c.
500.000
Q .-J .
do
do
1890
1,000
8.103.000
1»; A. & O.
do
do
1890
1,000
4.000.
000 4
April 1 N. Y., when earned.
1881
1,000
1.495.000
6 g. Q .-F . N. Y., Central Trust Co.
1,000
1881
1.499.000
4%g. M. & N.
do
do
1887 100 &c.
800.000
5 g- Q .-J . Phila., Pa. Co. Ins. on L,
1888
1,000
1.450.000
Q .-J .
do
do
100
960,800
! gRichmond,
100
323,500
1*2 J. & J.
do
1869 500 &c.
180,000
8
J. & J. Richm’d & Petersb’g,Va
1881
693.000
5
J. & J.
do
do
1881
800.000
6
A. & O.
do
do
50
2,495,650
1881
1,000
2.075.000 4% & 5 M. & N. Phila., Penn. RR. Co.
1857
1,000
976.000
7
A. & O. Phila., Penn. RR. Co.
1869
1,000 13.943.000 5 g.& 6 g. See rem.' Phil., Pa. RR. & London,
1869
1,000
4.755.000
4 g- A. & O. Phila., Penn. RR. Co.
1883
1,000
1.000.
000 4*2 M. & N. Phila., Penn. RR. Office.
50
2,231,900
3
Q.—M. Phila., Treasurer of Co.
1890
(?)
5 g"50 39,488,362
1843 $ & £
1,512,700
" 6 * J. & J. 1
Philadelphia & London.
1844-9 1,000
954.000
6
J. & J. Phila., Of., 227 S. 4th St.
1857 500 &c.
79,000
4*2 J. & J.
do
do
1868
1,000
2.700.000
7
A. & O.
do
do
1871 200 &c. 18.811.000 6 g. & 7 J. & D.
do
do
1873
1,000
9.364.000
6 g. A. & O.
do
do

Jan. 1, 1900
Apr. 1, 1939
Apr. 1, 1940
Apr. 1, 1990
Feb. 1, 1921
Feb. 1, 1921
Jan. 1, 1918
Jan. 1, 1918
May 1, 1891
Jan. 1, 1891
Jan., 1892-’98
July 1, 1926
Oct. 1, 1926
Nov. 1, 1911
Oct. 1, 1897
July 1, 1920
July 1, 1920
May 1, 1913
Dec., 1890
1915
July, 1910
July, 1910
July, 1910
Oct. 1, 1893
June 1, 1911
Oct. 1, 1897

P e t e r s b iir g-.-.Own8 Petersburg, Va., to Garysburg. N C 59 miles •
8’t°
rents Garysburg to Weldon (Seaboard & R oanoke),! m ites? total! 61 1stock ck and B onds.—The dividends paid on Philadelphia & Reading
from 1870
were
TeorganiZbd in 1877 without foreclosure From Tnlv l i rqo I 2 te per cent was to 1875, inclusive,since. 10 per cent each year; in 187t>
paid and nothing
» S S
. n S gj£ York—In 1879, 6 0@ 78; in 1 8 8 0 ,13i2@ 723g • in
i
»3 0 1 ,Bdb in 1889-90 ; net, $140,505, against $130 228 Tn venr ATidiTiff
4@
2;
30> 1890, gross earnings were $498^918 net, $18^7,455* su g X881’ 59 ® 7 ^ t; ln l 882, 463 651 in 1883, 46i4@61i8; in 1884/16%
plus over charges and dividend on preferred stock, $56,519 Dividends ® 6058;.™ 1885,13@ 26; in 1886,18%®73% ; in 1887, 34@71% ; in 1888&
on common stock m 1889, 2 per cent ; in 1891, May 1, 3 (V. 50, p 3 1 2 .) tactalive5 2 8 3 8 J 1 ' 36®50: “ 1890’ 261 48%; in 1891, to May f t
4®
P h i l a d e l p h i a & B a lt im o r e C e n tr a l.—Philadelnhia, to West­
chester^ 2 6 miles; Westchester Junction to Octoraro, Md. 46 miles*
Company guarantees $2,000,000 bonds of the Philadelphia Harris­
PMadSnhi^wflmtafft!2illr^ an Tf™1 ® ’ tÌ 0^ 1 operated, 79 miles. Thè
18
tae « 2 4 Q5 «
r
m
* Bal ti m°re Railroad holds practically all burg & Potomac—which see.
The consolidated 5s o f 1882 are payable at par at any time.
1889 90 nèt earning W
W
S
road as part of Its system. In
The general, and first, second and third preference income mortgages
$4,328 in 1888^9 g ’ *156’391 ; 8urPlu8 over charges, $5,677, against
(trustee of all, p ennsylvama Company for Insurance on Lives, etc f of
Philadelphia) cover m addition to the 327 mites o f road owned the title
FOTmerf^SuuhiiVt * F
r
b
f
s,uubury to Erie, 287 miles* to teased lines (mostly teased for 999 years) all real estate, rolling stock
road for 999 vears
?eased to Pennsylvania Railroaa io r9 9 9 years, and actual net receipts are paid as rental The o-en- and vessels of the company, $8,000,000 Philadelphia & Reading Coal &
ter^T on the 6^ i f natenTei J,, tlVl P£nnsylvania & ci Tho pnnnatri Iron Company stock, as well as the real estate of that companv. and
by <
xeresx on xn.6 os is pRicl J. dT on the 5 nor eftnts A Railroad, and the in- subject to a mortgage to Philadelphia & Reading Railroad Company
vama Railroad Company owned December 31 1890 S3 501 800 com
18a lt0/ k ™ °fber coal and iron companies amounting
74,
mon and $2 400,000 preferred stock and $ 4;i4 3 ,0 0 0 gfnèral m u r S e f® f 7^ 4& 975* ™ n ab,st^a ? of th? general mortgage was in the Chroni7
bonds, and the city of Philadelphia (sinking fund) $2 250 000 common
and of the preference income mortgages in V. 47 d*
.
141 and 142. The third preference convertible bonds were issued in exchange for the old convertible 7 per cents. They are stamped with an
makmg
convertible at option of holder into
$9 3 ? 28a^ S t ^ ° ^ 9rvSo31’ 1l ^ (3 months), gross earnings were agreement V. 50, p. them Of the Coal & Iron Company’s bonds common
^
stock. See
276.
as given
T h èren orfta? i I X
r a l i l 1,8905« 6! ^ 09’385’ against$264,090. in the table above, $765,000 are held by the sinking fund
8
'
in^s %5 ? 1^ 787«1 ìS q i q
^>.CM5’ X’ 52’ p* 278’ showed gross earnIn February, 1889, the first and second preference bonds received full
interest, but the third preference bonds received only 2% per cent In
cent on preferred stock, $322,356. S
1(v! 5 0 , ^ 2 ^ ? v ° 5 2 ^ .S2 7 8 J ^
( ic r ir iiin t o iv n Sc C h cK tn u t H i l l . —In Philadel- 1890 only % of 1 per cent was paid on the first incomes, and in Feb.
1891, no interest was paid on any of the incomes. See V. 52, p. 124. Net
? m f 7 r ^ S e™ rom ^ a v T 0 ^ ’ teased for 30S'years to the Chestnut earnings are defined in the income mortgages as the profits of the rail­
!
°
,?u? eet“ Railway, to Pennsyl­
run, / mues. rrom May 1,1883, 1 “ C
road company for each fiscal year ending November 30, derived from
vania Raiteoad Company, which guarantees 4 ^ per cent on the b 3
all sources, after paying operating expenses, taxes and existing rentals,
the1
sib^OOO^tockXnarP «^n?yly f’Illa RaBroad 1890. $999,750 of
xne $ i ,uuu,ijuu sto ck (par, $50). Gross earnmsrs an owns $240 407*net, guarantees and interest charges (but not fixed charges of the same sort
subsequently created);- also, after deducting expenses of “ renewing
over expenses and taxes, $62,317 (against $677382); i n t e r e s t " ® ^ ? ’
replacing and repairing its said property and premises, including such
T T b ili id e lp l iia G e r m a n t o w n & N o r r is t o w n .—Philadelphia
,
Pa., to Norristown, Pa., i 7 miles; Germantown Branch 3 mites P lv’ reasonable improvements thereof and additions thereto as shall be nec®yS 47 f02 5 6 ? Saf6’ proper and economical operation of the same.”
o f ^269 623 a n d ^ flta o
Railroad for 999 years at a rental
° ^ ? ™ 8VFI1 A?1CES’ &c- dn the flrst two months of the fiscal
1
.7
01 ¡pzt>y,t>z3 ana $8,000 yearly for organization expenses. Dividends of
12 per cent per annum are paid regularly. Stock, $2,246,000—par $50 year 1887-88 the strike prevailed, and earnings were greatly reduced.
The annual charges coming before dividends on stock were as follows
T.I^Ili,,,a d P1,r l,I a H a r r is b u r g & P o t o m a c .—Owns from Harris- by the report of 1889-90:
,
ÌlX+n’nr.o’ ’ i*® Shippensburg, on the Western Maryland Railroad 40 mites
$8 004 200
Rentals and interest both companies................................
^ t ì i e PhHadélnhia6^ pXnd-m Api?-’ if891, andleased for 999 years Annual payment for car trusts..................................................
’722’nnft
p 383, 459 ; V 1P
2?p. 1 2 ? 643 )g>WhlCh ^uarantees
bonds. (V. 51, $23,948,000 of first preference bonds @ 5 per cen t.. / ........ 1 197’400
$16,176,000 of second preference bonds ® 5 per cent
’ s o s ’s o a
P h i l a d e l p h i a & R e a d i n g .—(See Mapi—Line of R oati—rtwna $18,590,000 of third preference bonds @ 5 per cent.............
929*500
mam line, Philadelphia to Mount Carbon Pa 98
8
owned, 229 miles; leased lines, 549 mites; ?èads"controlted’ 231 mUrae
Total of all charges preceding stock.................................. $11 661 900
total operated November, 1890,1,106 miles
eu, ^31 mues,
From Dec. 1,1890, to April 30,1891 (5 months), gross earnings o f
the railroad company were $8,030,844, against $7,721,047 in 1889-90 *
net, $3,289,938, against $2,950,842; surplus over charges and improve­
ments, $156,577, against deficit of $234,999. The Coal & Iron ComPaay o same period had net earnings of $135,805, against $77,444
ia
89-90; deficit under charges a,nd. improvements, $651,121, against
Pbilad®lPbla & Reading Company
was «marterea A pru 4,1833. Itleases anumberof roadsinPenURvivania- $617,329. Total result for both companies was deficit under charges
also, the North Pennsylvania Railroad and Delaware & BountTBrnnir'
52189681 ° f $494’544’ agaill8t deficit o f $852,328.
a
Philadelphia to New York, ™ c o n t r X R e a S
io
November 3 0;
p.
t e h ? S ? r f y i n j l S ? y6arend8NOVembOT 3°- The annual ®l®®tioI ooT1 5 s^ o ye?:r edds the following • the report for 1889-90 in V. 52, ^
98,120,122, showed
EARNINGS AND EXPENSES.
1883MaDÌ Tune’ i
W e appoillted and held possession tiU May,
1887-88.
1888-89.
1889-901
Railroad—
$
$
$
-nia^ February, 1886, the Drexel-Morgan syndicate was formed and the Passenger traffic...............
3,407,290
-3,639,546
3,898,261
Coal traffic.........................
9,478,760
8,954,004
9,305,536
the Merchandise traffic..........
5,621,296
5,938,976
7,210,380
Miscellaneous....................
952,183
420,448
448,480*
mail............
62,017
65,640
T i S l f r w l S *1892 S n l United States stks. & bds.,
5“ psi
71,830'
Income from
Morgan, John Wanamaker, Austin Corbin, till August 1
from steam colliers, &c.
1,293,791
1,518,761
1,231,96»
S
e S
f 8^ a th fp h if?d e?^ CerS °Xf th.e 2d Mmiday inJanua? ? 7
perndssiOT to extend it«
®ipM5 autb?nties granted the company
Total earn’gs RR. Co..
20,815,337
20,537,375
22,166,450*
and Market street« V h f ÌIX®
el®
vated railroad ten blocks to Twelfth
Operating expenses.........
11,165,999
12,396,706
13.901,188aSd th^R eatofg w’il^iaranteeX h if-e8timated 1« cost about $8,500,000
C o m p n f t o t h a !^
^
800^ . 5 2,p
5 I
bi°n)d8870f.
6
Net earnings RR. Co..
9,649,338
8,140,669
8,265,262'
Net earnings C. & I. Co___
28,652
df.147,850
df.151,158
Total net both Co’s___
9,677,990
7,992,819
3,114,104
Deduct—
Rentals RR. Co..................
2,882,582
2,842,319
2,830,744
Interest RR. Co..................
4,516,433
4,085,139
4,351,312
Interest Coal & Iron C o...
834,872
826,523
822,126
invested in it November 30) 1890 (as per S S e e sh?et? $72 617 301




Total deductions........
8,233,887
7,753,981
8,(004,182
Balance, both companies. sur.1,444,103 sur.238,838
sur.109,922
The following table shows traffic and joint earnings for eight years,
excluding the business under Central Railroad of New Jersey lease:

I ll
BONDS.
AND
STOCKS
BAILKOAD
Mat , 1891.]



113

INVESTOUS’

SUPPLEMENT.

[V ol, LU

Subscribers w i l l con fer a great fa v o r by g iv in g Im m ediate notlee o f any error discovered In these T a bles.
RAILROADS.
Bonds—Prin of*
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due^
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Philadelphia A Reading—( Continued.)—
Consol. M. o f 1882, stamped (payable at notice) ,C
1882 $500&c. $5,767,042
M. & N. Phila., Of., 227 S. 4th St, May 1, 1922:
General mortgage, gold ($100,000,000)........ c*&r 327 1888 l , 000&c 38,104,658
I g‘
J.
do
do
Jan.
1st pref. income mort., not cum. ($24,400,000) c* 327 1888
i g- J. & 1 % per ct. paid in 1890 Jan. 1, 19581,000
23,971,000
19582d pref. income mort., not cum. ($22,500,000)..c* 327 1888
£ g Feb. 1 5 p. ct. paid. Feb,, 1889 Jan. 1, 1958
< Feb.
1,000
16,176,326
1,
5 g> Feb. 1
3d pref. inc. M., not cum. ($5,255,000 conyert.).c* 327 1888
1,000 18,681,567
2*2 p. ct. paid Feb., 1889 Jan. 1; 1958Deferred incomes (coming after stock)..
7,670,427
i gIrredeemable.
Car tru st, Series A, $100,000 due each F. & A .c*
1883
l",000
500.000
6
F. & A. Phila., Union Trust Co. $200,000 y’rly
Car trust, Series B, $51,000 due each M. & S .. e*
1884
1,000
357.000
6
M. & S.
do
do
102.000 y’rly
Car trust, Series C, $30,000 due Q.—M . . . .
c*
1887
1,000
810.000
5
Q .-M . Phila., Fidelity Tr. Co. 120.000 y’rly.
Car trust, Series D, $75,000 due Q.—F
c*
1890
1,000
2,544,000
5 g. Q.—F. Phila., Prov’t Life & Tr. 300.000 y’r ly
Equipment notes for $3,000,000..
1891
Mortgages on real estate....................................
2,175,075
P. & R. Coal & I. purchase money & real estate M
’72-"’84 500 &c. 12,230,106 5, 6 & 7 Various Phila., Of., 227 S. 4th St. 1892 to 1904
Fhxla. &Reading Term.—1st M.for $8,500,000,g. ,gu
1891
(Î)
New Y o r k ..
1841
5 g. Quar.
P m la.A Trenton—Stock 10 p. c. rental, Penn. RR.
39
T oo
1,259,100
2*2
Q .-J . Phila., Company’s Office Apr. 10,1891:
Philadelphia Wilmington &Baltimore,—Stock
50 11,819,350
3
J. & J. Phila., 233 S. Fourth St. Jan. 1, 1891
Plain bonds.......................
r
1872-4 1,000
700.000
6
A. & O.
do
do
Oct. 1, 1892*:
Plain bonds, s. fund $16,000 yearly, not"drawn, .r
1875
1,000
800.000
6
A. & O. Phil.Of.; Bost. ,Ki d.Peab Apr. 1, 1900Plain bonds, s. fund $20,000 yearly, not drawn, .r
1880
1,000
1,000,000
5
J. & D.
do
do
June, 1910
Fl8Jn bonds............................................
p
1887
1,000
1, 000,000
4
A. & O.
do
do
April, 1917
Plain bonds................................................................r
1,000
1887
1, 000,000
4
M. & N. Phila., 233 S. Fourth St. Nov. 1, 1922Piedmont A Cumberland—1st" mortgage, gold__ c*
1,000
29 1886
650.000
5 g. F. & A. New York & Baltimore. Aug. 1, 1911
Pm e Greek—1st mortgage, guar. prm. and int....... r
1,000
75 1883
3.500.000
J. & D. Phila., P. & R. RR. Co. Dec. 1, 1932:
Pittsburg Akron A IF.—1st M. for $3,630,000, g., c* 105 1890
£ g1,000
2.450.000
5 g . A. & O.
New York.
Apr. 1, 1948
Pittsburg Cincinnati Chicago A St. Louis—F ret.......
100 21,852,346
N.Y.,Farmers’ L’n & Tr. May 15,1891
Chic. & Gt. East. 1st M. (Chic, to Logansport)..c* 1Ï7 1863-5 1,000
223.000
7
Various N. Y., Union Trust Co. 1893 & 1895Col.& Ind. Cent. IstM. (Colum. tolnd. &br.).o* 208 1864
1,000
2.631.000
7
J. & J.
do
do
Nov., 1904:
1,000
208 1864
780.000
M. & N.
7
do
do
Nov., 1904
1,000
93 1865
715.000
7
A. & O.
do
do
Dec., 1905
1,000 15,131,000
5 g- A. & O.
do
do
Oct. 1, 1932
Col. & Indianapolis Central 2d mortgage....... c* 580 1883
1,000
37 1866
552.000
7
J. & J.
do
do
July 1, 1895
Union & Logansp’tlstM .(U ’nCitytoLogans.)c*
lie. St. L. < Pitts, cons. M. ($22,000,000).......... 0*
fe
Cincinnati EARNINGS OP RAILROAD AND COAL fc
TRAFFIC ANDRichmond &'Chios go 1st mortgage.. . < IRON COMPANIES. preferred to receive $66 66 new preferred and $33 34 new common forr
each $100 share of old stock; Chicago St. Louis & Pittsburg old com­
Coal carried
Coal from
(tons o f Merchandise lands o f 0. A Cross re­ Net e'm ings mon to be exchanged for new common share for share; Jeffersonville
carried one I. Co., tons ceipts both o f both com­ Madison & Indianapolis Railroad stock to receive $50 new preferred
2240 lbs.),
mile.
and $50 new common in exchange for each $100 old stock. New com­
panies.
one mile.
2240 lbs. companies.
mon stock for $4,600,000 will be given for accumulated and unpaid
1882- 3. 713,984,492 305,871,807
6,074,131 $40,045,615 $11,855,181 dividends on the first preferred stock of the Pittsburg Cincinnati & St:
Louis Railway.
1883- 4. 588,980,525 319,279,871
5,672,684 37,009,753
8,950,554
On May 23,1891,
1884- 5. 665,018,573 359,526,194
6,040,178 34,343,501
7,926,304 and $22,231,000 of there was outstanding $19,552,420 common stock
preferred.
1885- 727,179,462 398,862,487
6.
6,209,202 35,683,096
7,335,603
The preferred stock is “ non-«imulative and entitled to a dividend
1886- 7. 835,308,697 444,614,423
6,901,497 41,188,737 12,430,054
of 4 per cent per annum out o r the net earnings as declared by the1887- 8. 848,257,474 435,904,463
6,732,486 39,638,990 9,677,988
the right after 3 per cent has been declared on the1888- 9. 879,717,468 485,690,228
6,614,127 38,355,601
7,992,819 Board, with an additional 1 per cent, making 5 per cent in all.” *
common to
1889- 90 976,587,989 591,379,912
7,338,472 41,096.224
8,114,104 After 5 per cent has been declared in any year on both common and pre­
—
-JT. uu, v . Cl,
X.M xoo, ZOO, 2 / 0, 3U2, 402, 484,010, 061, ferred, the two stocks share equally.
1,
590, 706, 904 ; V. 51, p. 21,142,172, 207. 276, 345,383,459,538, 609,
Dividends on preferred: In 1891, May 15,1 per cent.
681, 748; V. 52, p. 9 8 , 1 2 0 ,1 2 2 ,2 0 4 ,3 5 1 ,4 7 9 ,4 9 9 ,5 7 1 ,6 4 3 ,6 8 1 ,
Price
796.)
’ clusive, of common stock: In 1890, 12® 14; in 1891, to May 22 in­
12V®1838.
P h ila d e lp h ia Sc R ea d in g T e r m in a l.—This is the company
Price of preferred stock: In 1890, 5 0@ 55; in 1891, to May 22 in­
which will build an elevated railway in Philadelphia to carry the Phila­ clusive, 48®6478. The Pennsylvania Railroad Company (Jan. 1,1891),.
delphia & Reading Railroad into the heart of the city at Twelfth and owns $6,144,000 Chicago St. Louis & Pittsburg consols.
Market streets. The Reading will guarantee its bonds, principal and
A consolidated mortgage for $75,000,000 (Farmers’ Loan & Trust Co..
interest. See V. 52, p. 391. Capital stock, $8,500,000. (V. 51, p. 876; of New York and W. N. Jackson trustees) has been executed, $37,V. 52, p. 391, 643.)
190,000 bonds secured by it being reserved for the prior hens.
P h ila d e lp h ia Sc T r e n t o n .—Owns from Kensington, Pa., to MorThere are $65,000 Cincinnati Richmond & Chicago matured 2d mort­
nsville, Pa., 26 miles, and Tioga Branch, 1 mile; leases Trenton Bridge gage bonds and $797,315 of 4 and 5 per cent car trusts outstanding.
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
From January 1 to April 30 in 1891 gross earnings showed a decrease
miles ; total owned and leased, 39 miles. On December 1,1871, it was of $400,999 and net a decrease of $36,405 over 1890.
leased with the United Companies of New Jersey for 999 years to the
On the lines operated directly (including in 1890 the 55 miles oper­
Pennsylvania Railroad, at 10 per cent on stock, and is operated as a ated jointly with the Lake Erie & Western, but excluding in both years part of its New York division. In 1888 gross earnings were $3,847,440 ; the St. Louis Vandalia & Terre Haute) results have been as follows.
net, $2,125,627.
See Pennsylvania RR. report in Chronicle , V. 52, p. 394.
P h ila d e lp h ia W ilm in g t o n Sc R a ltlm o re.—Mileage as follows:
1889.
1890.
1,329
1,393
Philadelphia Wilmington & Baltimore Railroad, 133 miles ; Philadelphia M ileage..,...................................................
& Baltimore Central, 80 miles ; Delaware Railroad, 100 miles ; Queen Gross earnings.............................................$16,423,269
$18,079,618
Anne & Kent Railroad, 26 miles ; Delaware & Chesapeake, 54 miles * Operating expenses.................................... 12,336,616
13,445,724,
Cambridge & Seaford Railroad, 27 miles ; Delaware Maryland & Virginia
Railroad, 98 miles ; total operated, 518 miles. Owns practically ail the
Leaving net earnings........................... $4,086,653
$4,633,894
stock of the Philadelphia & Baltimore Central, and in'May, 1891, it was Rentals of leased roads and interest on
proposed that P should assume certain obligations of the Delaware
funded debt for same period.................. 3,579,771
4,015,237
Maryland & Virginia. See V. 52, p. 499.
From 1868 to 1887, inclusive, dividends of 8 per cent were paid- in
B alance................ ,.................u...........
$506,882
$618,657
(?)
56,317
1888 and 1889,7; in 1890,6; in January, 1891,3. In April 1881 Add profit from St. L. Van. & T. H..........
nearly the whole stock was purchased by Pennsylvania Railroad Com­
pany, $10,890,950 of it being now held by that company.
Surp. applicable to div. on pref. stock.
............
$674,974
In year ending October 31,1890, gross earnings on 518 miles were —(V. 49, p. 789, 825; V. 50, p. 107, 276; V. 50, p. 559, 801, 835, 875:
$6,820,377 ; net, $1,570,202, against $1,471,224 in 1888-89; surplus V. 51, p. 241, 715. 829; V. 52, p. 204, 394, 609, 643.)
over fixed charges, $1,020,772; dividends (6 per cent), $709,161; V. 52,
P ittsb u rg Cleveland Sc T o led o .—f See Map of Pittsburg A West­
P ied m o n t Sc C u m berlan d.—Road extends from Piedmont West ern.)—From Newcastle Junction, Pa., to Akron, O., 77 miles. Stock.,
Va., to Cumberland, Md., 29 miles. It connects the West Virginia Cen­ $3,000,000 (par $50), of which Baltimore & Ohio Railroad owns $1,505,tral & Pittsburg RR., by which it is operated, with the Pennsylvania 000. Leased in July, 1884, for 99 years to Pittsburg & Western. The
RR. system, and has a traffic contract guaranteeing 5 per cent of gross Baltimore & Ohio guarantees interest on the Pittsburg Cleveland & To­
earnings to and from this road over the Pennsylvania Railroad which ledo bonds (see terms in V. 39, p. 607.)
In year ending March 31,1891, deficit under interest, $67,830, against
owns $200,000 of the $650,000 stock (par $50). In 1888 ’ gross
$98,662; net, $39,464. H. G. Davis, President.
’ ^
’ $27,997 in 1889-90. (V. 52, p. 795.)
P ittsb u rg Sc C on n ellsville.—Owns from Pittsburg, Pa., to Mt.
. P ittsb u rg A k ro n Sc W e ste rn .—Under construction from Carev
to Akron, O., 109 miles. To be consolidated with the Cleveland & Savage Junction, Md., 147 miles; branches, 4 miles; leased lines, 22
Western, Delphos to Carey, 56 miles, forming a line 165 miles in length miles; total, 173 miles. Leased for 50 years from January 1,1876 (re­
eonnectmg at Akron with the Pittsburg & Western. Trustee of thé newable forever), to the Baltimore & Ohio Railroad, which guarantees
mortgage is the American Loan & Trust Co. Stock authorized $4 230 - the consolidated mortgage of 1876 and in 1884 issued its bonds for $10,000 ; outstanding, $2,500,900 ; par, $100. (V. 50, p. 314, 8 3 5 - V 51 000,000, secured by pledge of the above second consolidated mortgage..
p. 459,910.)
* ’
’ Stock is $1,944,400; par, $50. In year ending September 30. 1890,.
P ittsb u rg C in cin n ati Chicago Sc St. I/o u is.—f-S Map.)— gross earnings of Pittsburg division Baltimore & Ohio were $3,069,055;
'ee
Owns Pittsburg, Penn., via Columbus, O., to Chicago, 111., 504 niues • net, $1,123,626; loss to lessee, $95,761.
Rendcomb Junction (near Cincinnati) to Anoka Junction, Ind 169
P ittsb u rg F o rt W a y n e Sc C hicago.—Owns from Pittsburg,
miles ; Logansport, Ind., to Illinois State Line, 60 miles ; Bradford Pa., to Chicago, 111., and branch, 470 miles. Made default October 1,.
Junction, O., to Indianapolis, Ind., 104 miles ; Indianapolis to Jefferson- 1857, and again in 1859, and was foreclosed October 24,1861, and reor­
ville (opposite Louisville, Ky.), 109 miles; branches, 138 miles ; total ganized under this title Feb. 26, 1862. From July 1, 1869, the com­
owned, 1,085 miles.
pany leased all its road in perpetuity to the Penn. RR. at a rental equiva­
Leases: Chartiers Railway, 23 miles ; Little Miami and dependencies. lent to interest, sinking fund of debt and 7 per cent on $19,714,286
Cincinnati, O., to Springfield, O., 84 miles, and Columbus, O., via Dav- stock, which was increased at that time from $11,500,000. The les­
ton, to Richmond, Ind., 112 miles ; Pittsburg Wheeling & Kentuckv 28 sees are to keep the road in repair and also pay taxes, expenses, <xc.
miles; also has a joint interest with Terre Haute & Indianapolis in the The rental and interest charge is about $3,146,053 per year, and the
St. Louis Vandalia & Terre Haute, Indiana State Line to East St. Louis. profit to lessees has been large. The road is now operated by the
158 miles ; total leased, 406 miles. Trackage : Lake Erie & Western, Pennsylvania Company. The Pittsburg Fort Wayne & Chicago leases Indianapolis to Kokomo, Ind., 55 miles. Grand total, 1,546 miles
the Newcastle & Beaver Valley, 15 miles, and the Massillon & Cleve­
O r g a n i z a t i o n , &c.—This company was formed in 1890 by consolida­ land RR<, 12 miles, both operated by the Pennsylvania RR.
tion <PJr term,s ^ 50, p. 875) of the Chicago St. Louis & Pittsburg,
J
The first mortgage bonds are in six series, lettered A to F inclusive, o f
ïi16 £?i[& son Madison & Indianapoiis, the Cincinnati & Richmond and $875,000 each series, the interest on “ A” series being payable January
F
tn6 Pittsburg Cincinnati & St. Louis. For history of constituent com- and July; o n “ B” it is February and August; on “ C” it is March and
pames see S u p p l e m e n t s prior to September, 1890. Controlled bv the September; on “ D” it is April and October; on “ E” it is May and
Pennsylvania Co. through ownership of stock.
November, and on “ F” it is June & December. The second mortgage isS t o c k a n d B o n d s .— The stock authorized is : Common. $45.000 000 • also in six series of $860,000 each, lettered G to M inclusive (J omitted),.
preferred, $30,000,000 ; par, $100. There were to be issued in the and the interest is payable January and July on “ G” series; February
consolidation about $23,000,000 of preferred stock and $21,000 000 of and August on “ H” ; March and September on “ I” ; April and October
common stock, in exchange for the stock of the constituent companies on “ K’T; May and November on “ L,” and June and December on
on the following basis : Pittsburg Cincinnati & St. Louis Railway first “ M.” Lessee pays $104,100 yearly to sinking fund, and if bonds
and second prèf. and common to receive of new preferred $100 for two cannot be purchased, funds accumulate. Of the above 1st mortgageshares ($50 each) of old stock ; Chicago St. Louis & Pittsburg Railroad bonds, $1,871,500, and of the second mortgage $2,304,000, and $1,582,—

i




May , 1891.]

RAILROAD

STOCKS

AN D

BONDS.

113

Subscribers w ill confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In these T a b le s.
Bond«—
Princi­
INTEREST OR DIVIDENDS.
INI
RAILROADS.
pal, When Due.
Miles Date Size, or
Amount Rate per
Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Pittsburg Cincinnati Chicago & St. L itiis.—( Con.)
Jeft’nvilleMad.&In.lstM. (s.f.$15,000dr’n at 110)o 159
2d mortgage........................................................... c 159
1
. Holliday’ s Cove Railroad 1st mortgage................c
Steub. & IndL, 1st mortgage, extended in 1884...r 125
Pitts. C. & St. L., 1st consol, mortgage............. c&r 199
Pitts. Cin. Chic. & St. L. eonsol. M., Series A, g. .o* 1,085
78
Pittsb. d eve. < Toledo—1st M., gold, int. guar. B.&O..
&
Pittsburg < conneilsmlle—1st mortgage............... ... 149
E
149
Consol, mort., guar. B. & O. (s.f.£7,200 per year)..
2d consolidated mortgage, gold (pledged)............. 149
Piltsb.Ft. Wayne < Chic.—Stock, 7 p. ct. guar. Pa. RR. 470
6
Guaranteed special improvement stock................ 470
Istmortgage series A to F i 8ink. fu n d o U mula; $ 468
468
3d mortgage. . . . G . \ tive- not drawn c I 468
8
Pittsburg Junction—1st" mortgage, gold.................c*
Pittsburg té Lake Erie—Stock................... .................
7Ï
1st mortgage, gold, coupon.....................................
71
2d mortgage for $2,000,000 (series A), gold.......c
Pittsburg McK. & Tough.—Cons, stock, guar. P&L.E.
62
1st mortgage, guar, by P. & L. E. and L. S. & M. S..
62
2d mortgage, for $1,750,000....................................
92
McKeesport & Bellevernon, 1st mortgage............
63
Pittsb. Painesville< Fairport—1st M., gold, int. gu.c*
£
Terminal mort., interest guar, by Pittsb. & West.
Pitts. Shenango < Lake E.—1st M.for $3,000,000 g.C" 154
é
70
Pittsburg Virginia < charleston—1st mortgage, gold
b
Pittsburg & Western—1st M., Pitts. Newcasfle & L. E.
1st mortgage, gold, for $10,000,000..................... c 226
226
2d mortgage for $2,000,000, gold................
JFoxburg Bridge Co. 1st mortgage, guar—

1866 $1,000
1,000
1870
1,000
1863
1,000
1864
1,000
1868
1,000
1890
1882
1,000
1868
¿200
1876
1885 100 &C.
100
100
1871
1862 500 &c.
1862 500 &c.
1862 500 &c.
1,000
1882
50
1,000
1878
1,000
1889
50
1884
1,000
1882
1,000
1884
1,000
1888
1,000
1886
1,000
1889
1,000
1890
1,000
1882
1878 500 &c.
1,000
1887
1,000
1891
1882

543 cash, were held in the sinking funds January 1,1891. The special
improvement stock is issued to Pennsylvania RR. for improvements,
&c., under article 16 of lease, which provides that the lessor may issue
special bonds or stock. See V. 50, p. 139.
I
In 1889 gross earnings were $10,862,899; net income, $3,901,661;
profit to lessee, $756,811. In 1890 gross, $12,020,934; net, $4,061,100;
profit to lessee, $915,047.—(V. 48, p. 7 6 2 ; V. 50, p. 139, 7 3 4 ; V. 52, p.
4=98.)
Pittsburg; J u n ctio n .—Owns 8 miles of tracks (including sidings,
<&c.) at Pittsburg, Penn., connecting the Balt. & Ohio and the Pittsburg
< Western, which companies in 1882 agreeed to pay the Pittsburg
fc
Junction $2 for each car passing over its road, and guaranteed (separ­
ately) a minimum of $240,000 per annum till April 27, 1922. Any
payments to make up this minimum, however, are to be in the nature
o f advances, to be repaid with interest. In 1889 gross earnings $212,8 8 8 ; net, $151,600; surplus over charges and dividend on preferred
stock $7,602. Common stock is $960,000; preferred, $480,000; par
$50. Dividends paid as earned; 7 per cent paid on preferred stock in
1888 and 1889.
P ittsb u rg Sc Lake E rie.—Owns from Pittsburg, Pa., to Youngs­
town, O., 68 m iles; branch line to Newcastle, Pa., 3 m iles; total owned,
71 miles; leases the Pittsburg McKeesport & Youghiogheny RR.,
Pittsburg to New Haven, Pa., 57 m iles; McKeesport to Belle vernon,
28 miles; with branches, 8 miles; total operated, 164 miles. Oper­
ated in the interest of Lake Shore & Michigan Southern, which owns
$2,675,696 stock. Dividends 1884 to January, 1891. inclusive,
6 per cent yearly. In 1889, gross earnings (including Pittsburg Mc­
Keesport & Youghiogheny), $3,251,895; net, $847,490. In 1890gross,
$4,010,587; net, $947,889; interest, $197,997; rental to Pitts. McK. &
Y., $429,228 ; one half profit on Pitts. McK. & Y. paid to Lake Shore &
Michigan Southern, $106,134; dividends, $212,250; surplus, $2,278.
John Newell, President, Chicago, 111. (V. 50, p. 7 2 ,1 7 4 ; V. 52, p. 679.)
P ittsb u rg M c K e e s p o r t Sc Y o u g h io g h en y .—Owns from Pitts­
burg to New Haven, Pa., 57 m iles; McKeesport to Bellevemon, 28 miles;
branches, 8 m iles; total, 93 miles. Road opened November, 1883, and
leased to Pittsburg & Lake Erie Railroad for 99 years. Rental is 6
per cent on the stock, principal and interest of the bonds being guaran­
teed by Pittsburg & Lake Erie an'd Lake Shore & Michigan Southern com­
panies, the guarantees being endorsed on the share certificates and bonds.
Profits to lessees in 1890, $212,269, of which one-half was payable to
the Lake Shore & Michigan Southern.—(V. 52. p. 126.)
P ittsb u rg P ainesville Sc F a irp o rt.—Owns from Fairport, O.,
•to Youngstown, O., 63 miles. October 7,1886, leased to the Pittsburg
& Western the 52 miles fr*m Fairport to Niles, and in 1887 the re­
mainder bf the road was leased in perpetuity to the Trumbull & Mahon­
ing, which is controlled by Pittsburg & Western, rental being commuted
in advance. Operated at cost, but interest of bonds is guaranteed.
Common stock, $800,000; preferred, $250,000; par, $50. In year end­
ing March 31,1891, gross earnings were $293,578; net, $61,440; deficit
under charges, $4,978, against surplus of $36,143 in 1889-90. (V. 52, p.
795.)
P ittsb u rg Shenango Sc L a k e E rie .—(See M ap.)—Owns from
Butler, Pa., to Girard, Pa., on Lake Erie, 107 miles; branches to Hill­
iard, etc., 26 miles; other branches, 21 miles; total operated, 154 miles.
Reorganized in October, 1890, after consolidation with the Pittsburg
Butler & Shenango, the Shenango & Allegheny, Erie Shenango & Pitts­
burg and the Northeastern Ohio. To retire the old bonds of the con­
solidated lines and to build the extension (just completed) from Green­
ville to Girard, on Lake Erie, $2,600,000 bonds have been issued;
$400,000 are reserved by the mortgage for equipment and the comple­
tion o f the line to Conneaut Harbor, a distance of 10 miles. The re­
ce iv e r was discharged May 1,1891.
From January 1 to March 31, in 1891 (3 months), gross earnings were
$62,144, against $58,122 in 1890; net, $20,303, against $24,372.
In 1890 gross earnings on 83 miles were $262,293, against $239,138
;in 1889; net, $103,746, against $89,290. Stock, $3,000,000; par, $50.
—(V. 49, p. 617; V. 50, p. 771; V. 52, p. 81, 322, 715.)
P ittsb u rg V irg in ia Sc C harleston.—From South Pittsburg, Pa.,
to Uniontown, &c., Pa., 75 miles. The stock is $1,805,200 (par, $50),
-of which $1,538,100 is owned by the Pennsylvania Railroad, which
pays net earnings as rental, and the bonds are all pledged under its col­
lateral trust of 1883. In 1890, gross, $1,029,314; net $332,483,
. against $307,957 in 1889.
P ittsb u rg Sc W e ste rn .—Owns from Alleghany City, Pa., to New
■Castle. Pa., 64 miles; Callery Junction to Mount Jewett, 139 miles,
. (of which 124 miles narrow gauge); branches, 9 miles; total owned, 212
miles. Leases for 99 years Pittsburg Cleveland & Toledo, New Castle
Junction, Pa., to Valley Junction, O., 77 miles, and the Pittsburg
Painesville & Fairport Railroad, Niles to Fairport, in Ohio, 54 miles,
and Windsor branch, 9 m iles; and uses 26 miles of Cleveland Akron
& Columbus; Akron, O., to Orville, O .; also owns entire stock of Trum­
bull & Mahoning Railroad, Hazleton to Niles, O., 15 miles; and of Pitts­
burg Northern, 4 miles; total operated, 398 miles.
Sold in foreclosure June 8,1 88 7 ; new company organized June 25 acording to plan in C h r o n i c l e , V. 44, p. 370. In February, 1891, the
altimore & Ohio bought $6,050,000 common stock, and on the com­
pletion of its Akron & Chicago Junction line it will use the road




$2,507,000
1,995,000
120,000
3,000,000
6,863,000
6,818,000
2,400,000
4,000,000
6,567,880
10,000,000
19,714,286
14,401,141
5,250,000
5,160,000
2,000,000
1,440,000
4,000,000
2,000,000
1,000,000
4,000,000
2,250,000
900,000
600,000
1,000,000
250,000
2,600,000
3,000,000
219,000
9,700,000
(1)
100,000

A. & O. N. Y., Farm. L. & Tr. Co.
7
do
do
J. & J.
7
P. & A. Phila., Penn. RR. Office.
6
J. & J. N. Y., Nat’l City Bank.
5
F. & A. Phila., Penn. RR. Office.
7
4 k g. A. & O. Farmers’ Loan & Tr. Co.
New York.
6 g. A. & O.
J. & J. Baltimore, B. & O. RR.
7
6 g. J. & J. Lond’n, J. S.Morgan &Co
New York Agency.
5 g. F. & A.
1%
Q .-J . N. Y., Winslow, L. &Co.
do
do
1%
Q.-^J.
do
do
Various
7
do
do
Various
7
do
do
A. & O.
7
fc
6 g. J. < J. N. Y., Third Nat. Bank.
J, & J. Pittsburg, Co.’s Office.
3
do
do
6 g. J. & J.
5 g- A. & O. N. Y., Security & Tr. Co.
J. & J. ;N. Y., Union Trust Co.
3
do
do
J. & J.
6
do
do
J. & J.
6
J. & J. Pittsb’ g, Fidelity Tr.Co.
6
5 g. J. & J. N. Y., Mercantile Tr. Co.
do
do
J. & J.
5
5 g. A. & O. 1st coup, due Oct., 1891
A. & O. Philadelphia, Penn. RR.
5 1
J. & D. Allegheny,Pa.,1 stN.Bk.
7
4 g. J. & J. N. Y., Drexel, M. & Co.
New York City.
5 g. M. & N.
M. & S. N. Y., Union Trust Co.
6

Oct. 1, 1906
July 1, 1910
Feb. 1, 1893
Jan. 1, 1914
Aug. 1, 1900
Oct. 1, 1940
Oct. 1, 1922
July, 1898
Jan. 1, 1926
Feb. 1, 1925
Apr. 8, 1891
Apr. 1, 1891
July 1, 1912
July 1, 1912
July 1, 1912
Jnly 1, 1922
Jan. 27,1891
Jan. 1, 1928
Jan. 1, 1928
Jan. 1, 1891
July 1, 1932
July 1, 1934
July 1, 1918
July 1, 1916
July, 1916
Oct. 1, 1940
Sept. 1, 1912
June 1, 1898
July 1, 1917
May 1, 1941
Sept. 1, 1902

as part of a through route to Chicago. The Baltimore & Ohio assumes
$1,250,000 of floating debt and will fund the same into second mort­
gage bonds, of which $2,000,000 have been authorized for doubletracking, etc. This mortgage will be a first lien on the company’s prop­
erty in Ohio. See V. 52, p. 238, 499, 762.
Stock, common, $7,000,000, and preferred, $5,000,000, 5 per cent
non-cumulative; both in $50 shares. Voting power of stockw ill be ex­
ercised till January 1,1892, by J. Pierponf Morgan, J. L. Welsh and
------------ . For abstract of mortgage (trustee, Mercantile Trust Com­
pany) see V. 45, p. 439. Leased lines are operated at cost and interest
on bonds advanced if necessary.
In addition to the above indebtedness there were outstanding Febru­
ary 28,1890, $81,000 of old Pittsburg & Western first mortgage bonds,
due 1900, real estate mortgages for $188,500; car trusts, $427,682.
Guarantees interest on $1,250,000 Painesville & Fairport bonds (see
that company).
Wi
.
. ,. ..
,
For year ending March. 31,1891, gross earnings of the three roads,
were $2,207,015; net, $718,579; surplus over charges, $30,744, against
$197,843 in 1889-90. Vice-President, Anthony J. Thomas, New York.
—(V. 49, p. 471, 7 3 3 ; V. 52, p. 238, 280, 499, 762, 795, 796.)
P ittsb u rg Y o u n g sto w n Sc A sh ta b u la .—Owns Kenwood, Pa.,
to Wampum Junction, Pa., 13 miles; Lawrence Junction, Pa., to Asbr
tabula, O., 80 miles; Niles to Alliance Junction, O., 25 miles; Canfield
Branch, 1 m ile; total operated, 119 miles. A consolidation of the Ash­
tabula & Pittsburg and other roads in 1887. Leased from December 12,
1887, to Pennsylvania Company, rental being net earnings. Stock out­
standing—Common, $1,333,342, and preferred, $1,700,000; both in $50
shares. Dividends on preferred stock at rate of 7 per cent yearly since
1887; on common, in September, 1890, 2 k per cent. Bonds of 1887
(trustee, Farmers’ Loan & Trust Company) are reserved to retire divi­
sional bonds. A sinking fund of 1 per cent purchases bonds of 1887 at
par, otherwise payments lapse.
From January 1 to March 31, 1891 (3 months), gross earnings were
$165,282, against $301,371 in 1890; net, $34,456, against $105,819
in 1889-90. In 1890 gross earnings, $1,376,264; net, $511,818; interest
on bonds, $189,800; additions and improvements, $43,979 ¡ dividends
(2k per cent on common 7 on preferred), $152,024; surplus, $126,016.
P o rt J ervis M o n ticello Sc N ew Y o r k .—Owns from PortJervis
N. Y., to Monticello, N. Y., 24 miles, and Huguenot to Summitville, 18
miles. Was sold in foreclosure July 16,1875, and again in November,
1886, and reorganized. Stock, $409,100; par, $100. In year ending
June 30, 1890, gross earnings were $47,485; net, $5,034; interest,
$21,840; taxes, $4,953; deficit, $21,759. (V. 48, p. 3720
P o rt R o y a l Sc A u g u sta .—Owns from Port Royal, S. C., to Augus­
ta, Ga., 112 miles. Formerly Port Royal RR., sold in foreclosure June
6,1878. The Georgia RR. was endorser on $500,000 of the old bonds.
The stock is $750,000, par $100, and in June, 1881, Central Georgia
obtained control of the company. The first mortgage bonds are $250,000, redeemable at 105; both firsts and seconds also have sinking funds.
In year ending June 30,1890, gross earnings were $329,519; net,
$40,350; surplus over interest and sinking fund, $2,630. Gross earn­
ings in 1888-89, $295,799; net, $43,504. (V. 45, p. 696.)
P o rt R o y a l Sc W e ste rn C arolin a.—Owns Augusta, Ga., to
Spartanburg, S. C., Laurens to Greenville, S. C., and McCormick to
Anderson, S. C., 229 miles. A consolidation in 1886 of the Augusta
& Knoxville, &c. Common stock of $1,234,000 and 6 per cent noncumulative preferred stock $184,000—
-par of shares $100. The mort­
gage is for $2,500,000. Central RR. of Georgia owns $1,578,000 o f the
above bonds, $694,000 common stock and all the preferred. In year
ending June 30,1890, gross earnings, $380,291, against $357,946 in
1888-89; net, $9,703.
P o rtla n d Sc O gdensburg.—Owns Portland, Me., to Scotts Mills,
108 miles. In June, 1886, after foreclosure this company was reorga­
nized as the Portland & Ogdensburg Railway. The city of Portland owns
$2,200,500 and the Boston & Maine $395,200 of the $4,237,036 stock
(par, $100). Leased from August 30,1888 for 999 years to Marne Cen­
tral for interest on bonds and 1 per cent on stock till August 30,1891,
and 2 per cent thereafter. The consolidated mortgage (Boston Safe De­
posit & Trust Company, trustee) was issued in 1888 to extend the road
to a connection with the St. Johnsbury & Lake Champlain, $800,000
being reserved to pay off first mortgage, and bonds being guaranteed,
principal and interest, by Maine Central.—(V. 47, p. 50,161, 278.)
P o rtla n d Sc R o c h e s t e r .—Owns from Portland, Me, to Rochester,
N. H., 53 miles. By a settlement in 1881 all the old stock and bonds
were converted into the stock of the new company, of which the Boston
& Maine owns $482,000. Dividends since 1883: In 1884 and 1885, 4 per
cent; in 1886, 5; in 1887, 1888, and 1889, 6 per cent; in 1890, 6 ; in
1891, Jan. 15, 3. In year ending Sept. 30, 1890, gross earnmgs, $235,871; net, $55,500; surplus over 6 per cent dividend, $19,976, against
$2,048 in 1888-89.
P o r t l a n d Saco Sc P o r t s m o u t h .—Portland, Me., to Portsmouth,
N. H., 51 miles. It was leased May 4,1871, in perpetuity to the Eastern
Railroad, Mass, (now merged in Boston & Maine), at 10 per cent on
stock. Lease rental changed May 21,1877, and now 6 per cent.
P o rtla n d Sc W illa m e tte V a lle y .—Line of road from Portland,
Ore., to Dundee, 28 miles, and branches 3 miles, all narrow gauge.
Connects with Oregon Railroad, with which it has a freight contract for
15 years. Bonds payable at 105. Stock, $150,000.
jisli

114




INTESTOKS’

SUPPLEMENT.

[Y ol . L i i r

May , 1891.]

RAILROAD

STOCKS AND

115

BONDS.

Subscribers w i ll confer a great fa v o r by g iv in g im m ed ia te notlee o f any error discovered in fhese T a bles.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation o f column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page o f tables.

Pittsburg Youngstown A Ashtabula—Common stock
Preferred stock.................................. .......................
Lawrence Railroad 1st mortgage....................... c
Ashtabula & Pittsburg 1st mortgage................. c*
Consol, mort. (for $4,000,000) s. f. 1 p. c., not dr.c
Port Jervis Monticello A V. F.—1st M. ($10,000 p.m.)
PortRoyal AAugus.—1st M. and 2d M. ,end.byCen. Ga.
General mortgage income bonds, gold................ c*
Port Royal A West Carolina—Augusta & Knox. M.c*
Consolidated mortgage, redeemable at 110.......c*
Portland A Ogdensb.—1st M., g., int. guar. M. Cent.c
Consol, mort.,$20,000p. m., guar. (Maine Cent.).c
Portland A Rochester—Stock ($600,000)...................
Portland Saco A Portsmouth—Stock (gua r, by rental)
Portland A Willamette Val.—1st M., g., red.atl05.c*
Portsmouth A Dover—Stock, 6 p. c. guar. East. Mass.
Potomac Valley—1st mortgage for $2,000,000........
Prescott A Arizona Central—1st M., g., sink, fund.c
2d mortgage, incomes paid 2 per ct. Jan. 1,1891
Providence A Springf.—IstM . (end. by CityProv.)c*
Providence A Worcester— Stock (10 per cent rental).
1st mortgage............................... , ........................c*
Quincy Omaha A Kansas City—Pref. 1st mortgage.
1st mortgage.............................................................
Raleigh A Augusta—1st mortgage, funding.......... c*
Raleigh A Oaston—1st mortgage............................... c
Reading A Columbia—1st mortgage (extended)..c"
2d mortgage, coupon (extended in 1884)............ <
Debentures................................................................c
Lancaster & Reading 1st mortgage.....................c

119
119
14
62
119
112
112
68
229
60
108
53
51
30
11
'7 3
73
23
51
51
134
134
98
97
40
40
" Ï5

1865
1878
1887
1887
’78-’ 82
1878
1880
1887
1870
1888
1886
1891
1886
1886
1872
1877
1887
1887
1886
1873
1862
1864
1877
1873

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

$1,333,342
1.700.000
310.000
1.500.000
1.562.000
364.000
362.000
1.500.000
630.000
2.143.000
800.000
1.008.000
592,070
1.500.000
400.000
769.000
m

775.000
775.000

500.000
3.500.000
1.250.000
250.000
1,489,240
1 , 000,000
1,000,000
650.000
350.000
1, 000,000
350.000

2Lj
3*2
7
6
5

I e-

M.
F.
F.
M.

N. Y., Farm. L. & Tr. Co.
S.
do
do
A. N. Y., Winslow, L. & Co.
A. ¡Phila.; Fidelity Tr. Co.
.
N. •N Y., Farm. L. & Tr. Co.
I New York Agency.
J. N. Y. Security & Tr. Co.
do
do
J.
J. N. Y. Security & Tr. Co.
N. N. Y., Mer. Nat. Bank.
J. Portland, Me.,Cent. RR.
Boston, Agency.
N.
Portland.
Boston, East’n RR. Co.
N .Y., Farm. L. & Tr. Co.
Portsmouth, Treasurer.

&
&
&
&
&
&
? g&
3
&
3
&
&
I s&
5
&
6 g.
&
6
&
7
Q .-M .
2^2
A. & O.
6
J. & D.
5
3, 4 ,5 J. & D.
J. & J.
6
J. & J.
8
M. & S.
5
J. & D.
5
6
J. & J.
7
6
7
6

J.
J.
J.
M.
J.
M.

&
&
&
&

N. Y., Oflice, 42 Wall St.
do
do
Providence, Am.N at.Bk.
Providence, Office.
Prov.,R.I.Hosp.&Tr.Co.
N. Y., JohnPaton & Co.
• do
do
Balt.&Phil. Mech.N.Bk.
Balt.& Phil. Mech.N.Bk.
Phila., Phil.&Read. RR,
do
do
Phila., Phil.&Read. RR,

Sept. 25,1890
Mch. 28,1891
Aug. 1, 1895
Aug. 1, 1908
Nov. 1, 1927
Dec. 1, 1927
1898 & 1899
Jan. 1, 1899
July 1, 1900
May 1, 1937
July 1, 1900
Nov. 1, 1908
Jan. 15,1891
Jan. 15,1891
Jan. 1, 1906
Jan. 1, 1891
Jan. 1, 1941
Jan. 2, 1916
Jan. 2, 1916
July 1, 1892
Mch. 30,1891
Oct. 1, 1897
Dec. 1, 1917
Dec. 1, 1917
Jan., 1926
Jan. 1, 1898
Mch. 1, 1912
June 1, 1904
Dec. 1, 1917
July 1, 1893

P o rtsm o u th & D«wer.—Portsmouth, N. H., to Dover, N. H., 10 I R ic h m o n d & D a n v ille .—(See Map Richmond A West Point Ter
miles. Opened February 1, 1874, and leased for 50 years to Eastern mined.)—The main line owned is from Richmond, Va., to Danville, Va.,
New Hampshire at 6 per cent per annum on the stock. Operated now 140 miles, with branches, 12 miles; the system proper is 751 miles.
For details see Richmond & West Point Terminal Company.
by Boston & Maine. Frank Jones, President, Portsmouth, N. H.
In February, 1887, the Richmond & Danville stock was mostly ex­
changed for Terminal in the proportion of four shares of Terminal for
P o rtsm o u th G re a t F a lls & C on w ay .—(See Boston A M aine.)
one of Richmond & Danville. The stock is $5,000,000 (par $100), of
P o to m a c V a lle y .—This company, controlled by the Western Mary­ which $4,976,100 is owned by Richmond & West Point Terminal, and
la n d has executed a mortgage for $2,000,000, the proceeds of which pledged under its collateral trust and preferred stock agreement.
w ill be used in the construction of the proposed line from Porters Sta­
Dividends since 1876—In 1881, 5 per cent; in 1882, 7; in 1887, 3; in
tion, York County, through the city of York to Chickies, on the 1888, 5; in 1889,10; in 1890,10; in 1891, January, 5.
Philadelphia & Reading’s Columbia branch. (V. 52, p. 121.)
Of the consolidated mortgage bonds of 1936 $10,720,000 were
Prescott &. A rizon a C entral.—Owns from Seligman, on the reserved to retire the consolidated mortgage 6s of 1915
Atlantic & Pacific Railroad, to Prescott, Arizona, 73 miles. Stock, and the debentures. Of the Oxford & Clarkesville 6s, due 1937,
264,000
have principal and interest, and $480,000 interest only, guar$1,200,000. Central Trust Company of New York is mortgage trustee,
liv e per cent o f net earnings each year accumulates, as a sinking fund; , .teed by Richmond & Danville. In 1889 endorsed the bonds of the
Georgia Company. There are $111,000 Clarkesville & North Carolina
bonds purchased, not drawn, at 110. Application to New York Stock
Exchange was given in full in C h r o n i c l e , V. 48, p. 223. In 1890 gross 6s (is. & N.), guaranteed, due November, 1937. The Washington Ohio
earnings were $134,594; net, $88,269. In 1889, gross, $128,508; net, & Western 1st mortgage bonds are guaranteed as to principal and
$83,315; surplus over interest ($62,000) and taxes, $13,806. T. S. interest by endorsement; $100,000 of the $1,250,000 are reserved to
take up Clark County bonds. The earnings of the Washington Ohio &
Bullock, President, 42 Wall Street.—(V. 48, p. 222, 223.)
Western for year ending Feb. 28,1891, were : Gross, $150,605; net,
Providence & Springfield.—Providence, R. I., to Pascoag, 23 $47,647. In 1890 the Richmond & Danville issued $6,000,000 bonds
miles. Stock is $517,450 (par, $100), a majority of which was acquired jointly with the East Tennessee Virginia & Georgia. (See East Tenn­
in July. 1890, in interest of the New York & New England, and road essee.) Danville & New River bonds for $1,050,000 are guaranteed.
Due from Atlanta & Charlotte Air Line for betterments to June30,1890,
leased to that company for 99 years from October 1 at 6 per cent on
stock. See V. 51, p. 458. Bonds for $1,000,000 are to be issued to re­ $1,183,846, from other leased lines $4,109,097. Bills and accounts
tire existing indebtedness, when due, and for extensions. They will be payable and miscellaneous liabilities June 30, 1890, amounted to
guaranteed by the New York & New England RR. and the city of Provi­ $2,474,690.
|
.
From July 1 to Dec. 31, 1890(6 months), gross earnings were $3,
dence. In year ending Sept. 30, 1889, gross, $126,942; net, $39,725;
258,495, against $3,021,580 in 1889; net $1,456,689, agst. $1,216,383surplus over fixed charges, $3,772. (V. 51, p. 458.)
Year ends June 30. Report for year 1889-90 was m C h r o n i c l e , V.
Providence & W o rce ste r.—Owns from Providence, R. I., to 52, p. 163, showing earnings for the system proper (751 miles) as follows.
Worcester, Mass., 44 miles; branches, 7 m iles; total operated, 51 miles.
1889-90.
In May, 1888, arranged to lease road to the New York Providence &
Boston Railroad, for 99 years at 10 per cent per annum on the stock, Gross earnings, including interest on investments................ $5>600,712
— ....................................... 3 , l l i , 4 o i
and road turned over in June, 1889, extra dividends of 10 per cent being Operating expenses.. 1........
paid June 29,1889. In 1889-90, gross earnings, $1,523,514; total net
Npit (‘amines
................................................... $2,489,261
income, $612,090; surplus over charges and 10 per cent dividends,
Leases, fixed charges, sinking funds and taxes...................... 1,738,397
$108,685. (V. 48, p. 829; V. 51, p. 681.)
Q u in c y O m a h a & K a n sa s City.—Quincy to Trenton, HI., 134
miles. This company is successor to the Quincy Missouri & Pacific sold
in foreclosure and reorganized. The stock is $1,489,240 (par $100). In
1890 gross earnings were $254,628; net, $79,602. In 1889, gross, $250,400; net, $74,627. From Jan. 1 to March 31,1891 (3mos.),grossearnings
were $62,519, against $55,485 in 1890; net, $20,144, against $13,788.
R a le ig h & A u g u sta .—Owns from Raleigh, N. C., to Hamlet, N. C.,
98 m iles; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 10
miles; Cameron to Carthage, 12 miles; total, 130 miles. Formerly
Chatham Railroad; now controlled by Raleigh & Gaston (which owns
most of the stock and bonds) and so by Seaboard & Roanoke. Stock is
$873,000; par, $100. In year ending September 30,1889, gross earn­
ings, $262,743; net, $94,001; surplus (including other receipts) over
fixed charges, $45,444; 1887-8, gross, $241,987; net, $88,978.
R a le ig h & G aston.—Owns from Raleigh to Weldon, N. C., 98 miles
and Louisburg branch, 10 miles. Controls Raleigh & Augusta RR., 108
miles, and has large interest in Durham & Northern RR., Durham to
Henderson, N. C., 42 miles; and with Seaboard & Roanoke controls
Carolina Central; also controls Georgia Carolina & Northern and
jointly guarantees the bonds. Seaboard & Roanoke owns $742,200 of
the Raleigh & Gaston $1,500,000 stock; par, $100. Semi-annual divi­
dends are paid at National Farmers’ & Planters’ Bank, Baltimore, April
1 and Oct. 1. Dividends in 1889,6 per cent; in 1890,6; in 1891, April 1,3.
From July 1 to December 31,1889 (6 months), gross earnings were
$260,546; net, $124,068. Gross earnings year ending September 30,
1889, $490,348; net, $213,804; surplus (including other receipts) over
fixed charges, $194,417; dividend of 5 per cent, $75,000. (Y. 52, p. 530.)
R e a d in g & C olu m b ia .—Owns from Columbia to Sinking Springs,
Pa., 40 m iles; branches, 16 m iles; Lancaster & Reading RR., leased, 15
m iles; operates Marietta Junction to Chickies, 6 m iles; total operated,
77 miles. Stock, $958,268; par, $50. The road is controlled and oper­
ated by the Philadelphia & Reading (which holds the above debentures),
but accounts kept separate. In year ending November 30,1889, gross
earnings were $304,097; net over operating expenses, $36,161, against
. $66,786 in 1887-88.
R en sselaer & Saratoga.—Owns Troy to Ballston, N. Y., 26 miles;
Whitehall, N. Y., to Vermont line, 7 miles; Eagle Bridge to Rutland,
Vt., 62 miles; Saratoga to Whitehall, 39 miles; branch, 3 miles; total
owned, 137 miles. Leases: Albany to Waterford Junction, 12 miles;
Saratoga to Schenectady, 22 m iles; Fort Edward to Caldwell, 14 miles;
other branches, 10 miles; total leased, 58 miles; total operated, 195
miles. Leased in perpetuity March 1,1871, to the Delaware & Hudson
Canal Company, which owns $1,600,000 stock; rental, 8 per cent on the
stock and interest on the bonds. Stock, authorized, $10,000,000.
From July 1,1890, to March 31,1891, gross earnings were $1,969,040, against $1,935,065 in 1889-90; net, $747,526, against $860,623;
•deficit under charges, $73,696, against surplus of $$55,768. In 188990 gross earnings, $2,629,547; net, $1,127,564, agamst $915,157 in
1888-89. (V. 48, p. 222; Y. 49, p. 174, 826; Y. 50, p. 245, 707; V. 51, p.
207, 6 8 1 ; V. 52, p. 280, 762.)




Surplus........................ : . . . ..................................................... $750,863
In the year 1889-90 the gross earnings of all the auxiliary lines
(2,572 miles) were $7,595,467; net, $1,943,288; deficit under charges,
$676,507, against $491,178 in 1888-89 (V. 49, p. 7 5 9 , 789; V. 50, p.
314, 452; V. 51, p. 172, 908; V. 52, p. 1 6 3 , 204, 351, 390.)
R ic h m o n d Fredericksburg; & P o to m a c ,—Owns from Rich­
mond, Va., to Quantico, 79 miles; James River branch, 3 miles ¡ leases
Quantico to Junction, 2 miles. There are $83,363 7 per cent debt certi­
ficates due July, 1899, and $53,512 5 per cent certificates due m 1901
and 1902. In December, 1889, the consolidated mortgage for $2,000,000
was authorized to provide for prior bonds maturing, for extensions,
double-track, &c. Dividends of 7 per cent paid on common stock and
dividend obligations in 1888 and 1889; on January 2,1890, 3 l July 1,
3*2; in 1891, January 2, 3*2. In year ending June 30, 1890, gross
earnings were $709,613; net, $269,369; interest and guaranteed divi­
dends, $79,177; dividends, $144,820; surplus, $45,373. In calendar
year 1890 gross earnings, $735,082; net, $289,354, agamst $237,342 in
1889. (V. 49, p. 826; V. 50, p. 312, 520, 904; Vol. 52, p. 39.)
R ic h m o n d N lch olasvllle Irv in e & B eatty v ille .—Line of
road—Versailles, Ky., to Beattyville at the Three Forks of the Kentucky
River, 97 miles. Forty miles are completed and in operation ana the
remainder under construction. It is authorized to bmld to the Kentucky
border. Bonds issued as the work is done. In March, 1890, stockholders
of the Louisville N. Albany & Chicago voted to reject an agreement that
had been made to guarantee this company’ s boiids- See V -50,
770. President, Major J. W. Stine. (V. 50, p..484, 770; V. 51, p. 609.)
R ic h m o n d & Petersburg.—Owns from Richmond to Petersburg,
Va., 23 miles. James River branch, 4 miles._ The consolidated* mort­
gage of 1890 provides for outstanding obligations, double-tracking, &c.
Dividends since 1883—In 1884,1885 and 1886, 5 per cent; m 1887,
6 ; in 1888,1889 and 1890, 7 ; in 1891, January 3, 3*2.
From July 1,1890, to March 31,1891 (9 mos.), gross earnings were
$236,777, against $232,286 in 1889-90; net, $67,819, against $68,051.
Fiscal year now ends June 30.. In year 1889 90 gross earnings v, ere
$325,305; net, $100,822; total net income, $117,989; surplus ever
charges and 7 per cent dividend, $19,751. In 1888-9 gross, $280,C5 7 ;
net, $72,724.—(V. 50, p. 312; V. 51, p. 143.)
R ic h m o n d & W e st P o in t T e rm in a l R a ilw a y & W a r e ­
h ou se Co.—(See Map.)—The mileage controlled and operated is about
8,558 miles (including water lines) as follow s:
R i c h m o n d & D a n v i l l e S y s t e m .— Richmond & Danville and Pied­
mont Railroad, branches, &c., 220 miles; Richmond York River &
Chesapeake Railroad, 39 m iles; North Carolina Railroad, 223 m iles;
Atlanta & Charlotte Air Line Railway, 269 miles; total system proper
751 miles. Leases: Northwestern North Carolina, 100 m ues;
Virginia Midland Railway, 355 miles; Washington Ohio & Western
Railroad, 50 miles; Western North Carolina Railroad, 302 m iles; Char­
lotte Columbia & Augusta Railroad and leased lines, 363 miles; Colum­
bia & Greenville Railroad, leased lines ana branches, 296 m iles; Rich-

116
US VESTORSE
SUPPLEMENT.
\_V Lll.
ou




May , 1891.]

RAILROAD

STOCKS

AND

BONDS.

i l r

Subscribers w i l l confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In these T a bles.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Size, or
pal,When Due.
Amount Rate per When
For explanation o f column headings, &c., see notes of
Of
Par
Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Rensselaer A Sara.—Stock,8p.c.guar.Del.&Hud.Can 195
1st mortgage, consolidated.............................. c*<fcr
79
Richmond A Danville—Con. M.,g. ,Rich. toDanv. &brs. 152
Debenture mortgage bonds, Income cumulative.. 152
Consol. M. g. ($15,000 p.m.)$ or & ($14,500,000)c* 152
Equipment Trust bonds, gold, s.f., drawn at lOO.e*
Northwestern, N. C., 1st M. ($15,000 p. m.) g. gu.c i ’o ó
Richmond York River & Chesapeake, 1st m ortg..
38
2d mortgage, Richmond to West Point, Ya........
38
Stock, guaranteed 6 per cent................................
Wash.Oh.& West. 1st M.,guar.,Alexan.to R. HilLcI
50
Income mortgage...............................I.................
50
Oxford & Clarksville 1st mort., $15,000 p. m. . .c
50
Danville&W est. IstM . f o r $15,0 0 0 p .m .,g ....:.c
70
Rich. Fred. A Pot.—St’k,com. ($1,071,100 div.oblig.)
Stock, guar. 7 p. c., except $19,300 guar. 6 p. c . .
Convert, bonds, $129,150 5s,due 1901,6s&7s,1895
Coup, bonds ($48,687 are 5s, pay. J & J in London) ^ 79 1
Consol, mortgage for $2,000,000, gold..........c*&r
79
RUh. N ichol.Irv. A B .—IstM. ($25,000p.m.) gold.c*
Richmond A Petersburg—Stock...................................
23
Consolidated mortgage ($50,000 are 7s)...............
23
Consolidated mortgage for $1,000,000, gold___c*
27
Richmond A West Point Terminal R. A W. Co.—Stock
Pref. 5 p. c. stk., cumulative, subject to call at 110
Collat. trust bonds, gold, subject to call at 105...
Consol, collateral trust, subject to call at 100. .c*
Rio Qrande June.—1st M. for $2,000,000, g. guar.c*
62
Rio Qrande Southern—1st M., $25,000p.m., g. ,c*&r
Rio Qrande Western—Preferred stock...................
1st trust mortgage, gold.......................................c* 427

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

4
$8,831,900
J. & J. N.Y., Del. & H.Canal Co. Jan. 2, 1891
M. & N.
2,000,000
7
do
do
May 1, 1921
5,996,000
6 g- J. & J. N. Y., Office, 80 B’way. Jan. 1, 1915 ~
3,238,000
6
A. & O.
do
do
Apr. 1, 1927
3,240,000
do
do
Oct. 1, 1936 5 g» A. & 0.
1,348,000
do
do
5 g. M. & S.
Sept. 1, 1909'
1,500,000
6 g. A. & O.
do
do
Apr. 1, 1938
400,000
J. & J.
8
do
do
Jan. 1, 1894
M. & N.
500,000
6
do
do
Nov. 1, 1906
J. & J.
497,000
3
do
do
Jan. 2, 1891
1884
F. & A.
1,250,000
4
do
do
Feb. 1, 1924
1884
625,000
6
None paid.
1924
1887
1,000
744,000
6 g. M. & N. N. Y., Office, 80 B’way. Nov. 1, 193T
1891
1,000
1,052,000
5 g. A. & O.
do
do
Oct. 1, 1936100
2,228,200
3% J. & J. Phila. & Richmond.
Jan. 1, 1891
100
500,400
3*2 M. & N.
Richmond.
Nov. 1, 1890“
1856
144,520 5, 6 ,7 J. & J.
do
do
July’95&1901
58&70
349,687 5 g. & 6 M. & N. Phila.,Town, Whel; Rich
1901
1890
1,000
500,000
4 1 A. & O. New York or Richmond. Apr. 1, 1940”
2g.
1889 ■ 1,000
1,000,000
6 g. J. & J. N. Y., Bk. of NO. Amer. July 1, 1910
100
1,000,000
Richmond, Office.
3% J. & J.
Jan. 3, 1891
1875 500 &c.
400,000
6 & 7 M. & N.
do
do
May 1, 1915*
1,000
1890
300,000
New York City.
4 1 A. & O.
2g.
Apr. 1, 1940”
100 70,000,000
100
5,000,000
2^2 J. & J. N. Y., Office, 80 B’way. Jan. 10,1891
1,000
5,500,000
do
do
1887
Feb. 1, 189T
6 g. F. & A.
1,000 11,065,000
1889
do
do
Mch. 1, 1914
5 g. M. & S.
1,000
1889
1,850,000
5 g- J. & D. N. Y., Maitland, P.& Co. Deo. 1, 1 9 3 0
1,000
1890
1,150,000
5 g- J. & J. N. Y., Maitland, Phelps July 1, 1 9 4 6
100
6,250,000
Q.—F. N. Y.,office,32 NassauSt. May 1, 1891
li4
1889 l,000&c 13,749,000
4 g. J. & J. N. Y., State Trust Co. July 1, 1 9 3 0
%
1871
1874
1882
1886
1889
1888
1873
1880

mond & Mecklenburg Railroad, 31 miles; Georgia Pacific Railway, 567
miles; Statesville & Western, 20 m iles; Oxford & Henderson, 13 miles;
Oxford & Clarksville, 50 miles; Northeastern RR. of Georgia, 40 miles;
Clarksville & North Carolina, 7 miles. Controls by ownership of stock,
operating separately: Asheville & Spartanburg, 70 miles; Elberton
Air Line, 51 m iles; other lines, 58 m iles; total auxiliary system, 2,572
m iles; total Richmond & Danville system June 30,1890, 3123 miles.
Since acquired, 74 m iles; total, November 30,1890, 3,197 miles.
E ast T ennessee V irginia & Georgia System .— (See East Ten­
nessee Virginia & Georgia for details).—Total East Tennessee system,
including Alabama Great Southern, Cincinnati New Orleans & Texas
Pacific, etc., 2,500 milesj
Central R ailroad of Georgia .—(See that company) 2,361 miles.
W ater L ines.—Ocean Steamship Company, 300 miles, and Baltimore
Ches. & Rich. S. B., 200 miles—500 miles.
In February, 1891, an arrangement was made with the Pennsylvania
RR. Co. for through trains from New York to Atlanta and New Or­
leans. See V. 52, p. 322.
Organization , E tc.—Incorporated by an act of the Legislature of
Virginia of March 8,1880, and in November, 1886, purchased a large
majority of the Richmond & Danville Railroad stock, $5,000,000 of pre­
ferred Terminal stock being issued, secured by the deposit in trust of
25,000 shares of Richmond & Danville stock. The Central Georgia
Railroad & Banking Company is controlled by the Georgia Company,
whose entire stock is owned by the Terminal Company, and in March,
1891, it was leased to the Georgia Pacific to ensure closer relations.
An interest in the Balt. & Ohio was secured in 1890. (See V. 50, p. 874.)
In December, 1890, the following persons entered the directory Jays
Gould, Russell Sage, Geo. J. Goulcf, Abram S. Hewitt and R. T. Wilson.
Stocks and B onds.—The preferred stock may be called for redemption
at 110. It is secured, as stated above, by deposit in trust of $2,500,100
Richmond & Danville stock.
Dividends on preferred stock—In 1887,2*2 per cent; in 1888, 5; in
1889, 5 ; in January, 1890, 2*2; in July, 2*2; in 1891, Jan. 10, 2*2.
Price o f common stock—In 1881,122® 174*2; in 1882, 23®263; in
1883, 21®39; in 1884, 12®32; in 1885,183s®43i4; in 1886, 27*4®
77J ; in 1887, 2038®53; in 1888, 19®29%; in 1889,19%® 27%; in
4
1890, 131
2®28 j4 ; in 1891, to May 22 inclusive, 151
2®191 Preferred
2.
in 1887, 43®871 in 1888,55® 87%; in 1889, 76® 84%; in 1890, 60*2®
2;
8712; in 1891, to May 22 inclusive, 67J
2®761
2.
The securities owned free from any lien on Nov. 30,1890, were as fol­
low s:
Bonds.
Stoclcs.
$100,000
Baltimore & O. com ...
$400,000 E. Tenn. Va. & Ga. Ext
195.000
Blue Ridge & Atl. pref.
250,000 Oxford & Hend. 1st M
160.000
fc
E. Tenn.Va. & Ga. com. 5,880,000 Rich. < Mecklenb. 2ds
300.000
Do
1st pref.
500,000 Statesville & West. 1st
299.000
Do
2d pref. 2,311,000 Blue Ridge R R ........
893.000
Oxford & Hend. com ..
325,000 State of Georgia 312s
1,844
Rich. & W. P. Ter. com.
888,640 Other issues.............
Statesville & Western.
500,000
Totalbonds............ $1,948,844
Virginia Midland com.
954,233
118,112
Otherissues..................

E a r n i n g s . —Forthe year ending June 3 0 ,1 8 9 0 , the earnings of the linear
controlled (8 ,3 1 2 miles) w ere $ 4 1 ,3 6 1 ,0 9 5 , against $ 3 5 ,5 9 6 ,9 8 3 on 7 , 8 1 7 '
miles in 1 8 8 8 - 8 9 ; net, $ 1 3 ,1 3 2 ,9 0 3 , against $ 1 1 ,6 9 9 ,5 1 2 ; surplus ov e r­
charges, $ 2 , 4 9 5 ,7 1 7 , against $ 2 ,2 6 5 ,0 6 7 .
The annual report for year ending November 3 0 , 1 8 9 0 , was given a t length in V. 5 1 , p. 8 2 8 , 8 7 8 ; see also page 8 5 ? ,
INCOME ACCOUNT YE AR ENDING NOVEMBER 3 0 , 1 8 9 0 .

T // P
? nn —
pp
Expenses—
Divs. Rich. & Dan........ $497,810 Int. 6 per cent Col. Trust $330,006
Divs. E. T. 1st pref.......
448,320 Int. 5 per cent Col. Trust 412,656
Divs. Cent, RR. of Ga..
328,800 Interest on Ga. Co. 5 per
Int. E. T. 1st mortgage.
7,500
28,106*
cent Col. Trust...........
141,000 Divs. on pref. stock......
Various coupons............
249,847
Interest and discount..
118,025
Gen. and legal expenses
74,476
T ota l........................... $1,423,430
T ota l........................... $1,213,099Net for year.....................................................................$210,336
—(V. 49, p. 115, 374, 471, 7 8 8 , 8 6 2 ; V. 50, p. 245, 771, 834; V. 51, p.
788, 8 2 8 , 853, 8 7 8 , 877; V. 52, p. 280, 322, 462.)
R io Grande J u n ctio n .—Owns standard-gauge road, completede
in September, 1890, from Rifle Creek, Col., on the Colorado Midland
and the Denver & Rio Grande, to a connectioil with the Rio Grande*
Western at Grand Junction, 62 miles. This is a connecting link in the*
standard-gauge route which was opened in November, 1890, over thee
roads above named, between Ogden and Denver and Colorado SpringsLeased jointly by Colorado Midland and Denver & Rio Grande, which,
companies guarantee the bonds, principal and interest. Concerningbonds see V. 51, p. 830. Stock is $2,000,000; par, $100. (V. 51, p829, 830; V. 52, p. 204.)
R io Grande Southern.—(See Map Denver A Rio Qrande.)—Unde*construction from Dallas, Coi., on the Denver & Rio Grande, southerly
to Durango, 164 miles, narrow gauge; completed from Ridgeway tu
Telluride, 45 miles, and from Durango, northerly, 5 miles; road to be
completed in 1891. This road is built in the interest of the Denver &
Rio Grande, with whose narrow-gauge lines it will connect. Mortgage
(trustee, Central Trust Company of New York) is for $5,000,000 at
$25,000 per mile. (See V. 51, p. 143; V. 52, p. 322.)
R io Grande W e ste rn .—( See Map.) —Line of R oad—Owns Ogden
Utah, to Crevasse, Cel., 310 miles; Bingham Junction to Alta, 18 miles»
Bingham J unction to Bingham, 16 miles; Pleasant Valley J unction to coa£
mines, 18 miles: Sevier branch, 60 miles; other branches, 5 miles; total
owned, 427 miles. Leases Crevasse to Grand Junction, 18 miles.
Total operated, 445 miles. The Rio Grande Junction Road, 64 miles, ,
opened in November, 1890, affords a through connection of standardt
gauge to the Denver & Rio Grande and the Colorado Midland.—(SeeV. 51, p. 680.)
This company was formed in June, 1889, pursuant to the plan o f
March, 1889, for widening gauge and retiring old securities with new“
issues. See V. 48, p. 429. See abstract of mortgage (Central Trust Co.»,
trustee) in V. 49, p. 237, and statement to New York Stock Exchangein full in V. 50, p. 73. Common stock is $7,500,000; preferred stock,
authorized, $7,500,000; outstanding, $6,250,000; par, $100. Preferred
stock is entitled to 5 per cent dividend, non-cumulative, then common)
stock to 5 per cent, after which both classes of stock share equally.
The preferred stock was increased from $5,000,000 to $6,250,000 iu
April, 1891, the new stock being taken by stockholders at $65 per
share. The proceeds of this issue will be applied to new equipment»
constructing new line over Soldier Summit Pass, etc. See V- 52, p. 4 9 9 Dividends on preferred stock—A dividend of 2% per cent in preferred
stock was paid February 1,1891, and the first quarterly cash dividendof 1*4 per cent May 1, 1891. See oflicial statement on declaration off
this dividend in V. 52, p. 499.
Price of common stock—In 1890, 15®247e ; iu 1891, to May 2 2
inclusive, 23®44.
Price of preferred stock—ha 1890, 40®55; in 1891, to May 2 2
inclusive, 551
4®74%.
From July 1, 1890, to March 31,1891 (9 mos.), gross earnings were*
$1,725,739 against $1,172,397 in 1889-90; net, $675,542 against.
$416,441. Mileage, 386 miles, against 369.
From July 1, 1890, to January 31, 1891 (7 months) net earnings*
were $579,593; taxes, insurance, etc., less other income, $19,379»
rentals and interest on bonds for 7 months, $310,566; balance for~
stock $249,643. See V. 52, p. 499.
Fiscal year ends June 3 0 . Statement for 1 8 8 9 -9 0 was in C h r o n i c l e ».
V. 5 1 , p. 2 7 5 .




.

Total stocks........... $12,126,985 Tot. of bonds and st’.ks.$14,075,829
The 6 per cent trust bonds of 1887 may be redeemed on notice at any
timfl at 105 (see abstract of mortgage, V. 45, p. 575). They are a first
lien on the following securities:
Rich. & Dan. stock... $1,760,900 West. N .C .co n so ls.... $1,325,000
do
2d m o rt.... 4,110,000
E. T. Va. & Ga. 1st pref 6 , 000,000
1,000,000
Col. & Green, com—
1,000
Total par value....... $17,296,900
do • do p r e f...
3,100,000
Va. Midland stock—
The consol, collateral trust 5 per cent mortgage of 1889 is for $24,300,000 (trustee. Central Trust Co.); $4,000,000 being reserved to retire
(if deemed advisable) $5,000,000 preferred stock apd $5,500,000 for
the collateral trust bonds of 1887. The sinking fund of 2 per cent begins
February 1,1898, bonds to be drawn if not purchasable at par, and
bonds may be redeemed at par at any time on one month’s notice.
(See abstract of mortgage in C h r o n i c l e , V. 49, p. 115.)
The 5s are a second lien on the securities pledged for the 6 per cent
bonds and on $2,500,100 Richmond & Danville stock,pledged for the
preferred stock, and a first lien on the following:
$315,000
Georgia Co’y stock---- $11,990,000 N’east.RR. of Ga. g’n.M.
120,000
do
do stock.
Char.C.& Aug.RR.st’k. 1,300,000
300.000
Va. Midland Ry. stock.
470,000 Rich.& Meck.RR.stock
708,100
Western N C.RR.,com. 3,160,000 Rich.& Dan. RR.stock.
1 8 8 8 -8 9 .
1889r90do
do
pref. 3,160,000 Ga. Co. 5 p.c. col. trust. 3.447.000
$
Ga. Pacific Ry. stock.. 4,370,000 E.Tenn. V a. &Ga. 1 st p f. 2,283,200 Gross earnings..............
1,421,431
1,622,284.
do
do
2dpf. 4.225.000
do do incomemort. 1,397,000
Total net income......................................... I ,. 473,743
520,686
Ash. & Spart.RR.2dM.
215,000 Central RR. & Banking
Deduct—
220.000
Co. of Ga. stock........
do
do
stock. 1,040,000
Interest on bonds .......................................................... 3 5 8 ,2 9 4
3 9 3 ,5 0 6
Wash. O .& W .RR.inc..
625,000
Rental and
36,090
11,146
do
do
stock.
1,500,000
Total
$ 40,845,300 miscellaneous................................
In 1890 the company guaranteed $6,000,000 Cincinnati Extension Surplus.................
79,359
116,046
bonds, issued jointly by Richmond & Danville and East Tennessee, Vir­
ginia & Georgia and secured by deposit of the stock purchased in ob­ —(V. 49, p. 23,115, 208, 580; V. 50, p. 73,276, 422, 577, 801; V. 51, p 207, 275. 680, 788 ; V 52, p. 126, 499, 574.
taining control of the “ Erlanger” roads.

118
IN V E S T O R S ’
SU PPLE M E N T .
[Yol. Lir.




Ma y , 1891. J

KAILEOAU

ÖTOCKS

AND

BONUS.

119

Subscribers w i ll confer a great fa v o r by g iv in g im m ed iate notice o f any error discovered in these Tables.
Bonos—Princi­
BÏ EBfiC'
BKËB E
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount , Rate per When Where Payable, and by pal, When Due.
Stocks—Last
Par
of
For explanation o f column headings, &c., see notes of
Whom.
Dividend.
Road. Bonds Value. Outstanding . Cent. Payable
on first page of tables.

Roanoke < South.—1st M., g., $15,000 p.m.,ser. A. .c*
£
Roch. d Genesee Val.—Stock, 6% rentalN. Y.L.E.&W.
k
Rock Island di Peoria—Stock........ .................. .
: 1st mortgage...........................................................r
¿Consolidated 1st mortgage........................... ......... r
Rome Watertown di Ogdensburg—Stock.....................
1st M.,Wat. & R.,Róme to Cape Yin., s.f., not dr’n.c*
1st M., Wat.4 Ogd. « sNor’d, s. f. (2d M. on 95 m .).
to
S
2d mortgage (3d mortgage on 95 miles)............. c*
Consol, mort. (extended July, 1882, at 5 p. o.)..c*
Syracuse Northern 1st mortgage (gold)..... . . . .c*
Oswego Bridge 1st mortgage.. . . , — ...................
, Syracuse Phoenix & Oswego 1st mortgage............
Norwood « s Montreal 1st mortgage, gold...............
S
R. W. & Og. Term. RR. Co. 1st mortgage, guar..c*
Utica&Bl. Riv. st’k,7p.c.perpet. gu.hyR.W .&0.
Black River & Morristown 1st mortgage . . . . . .c
Clayton & Theresa 1st mortgage.......................c
Consol. M., Utica to Ogdens, «»branch, g., guar.c*
Rutland—Stock, preferred................... . — ............General mortgage (8 per cent, reduced to 6)...... c
2d mortgage in exchange for equipm’t bonds, «fee..c
Saginaw Valley < St. Louis—1st mortgage............ c
6
St. Johnsbury & Lake Champlain—IstM ............c«fcr
, Consolidated mortgage (for $1,000,000).............
Bonds for $2,500,000....................................... . —

18
113
91
113
97
190
190
409
45
18
13
14
150
36
16
150
120
120
120
36
120
120
120

1889

$1,000
100

1878
1885

25,000
5,000
100
100 &c.
500 &e.
1,000
1,000
1,000

1855
1881
1872
1874
1871
1885
1885
1886
1,000
1888
100
’ 68-71
1874 500 &c.
1873 500 &c.
1890
1,000
100
1872- 100 &c.
1878 100 &c.
1872
1,000
1,000
1880
1884
i;ooo

R o a n o k e & Sou th ern .—In operation from Winston-Salem, N. C.,
via Walnut Cove, on Cape Fear & Yadkin Valley Railroad to Martins­
ville, Va., 60 miles. Under construction from Martinsville to Roanoke,
Va., 62 miles—to be completed in December, 1891. Projected also
southerly to South Carolina State line. The first mortgage (trustee
Mercantile Trust <s Deposit Co., of Baltimore) is in three series, each
S
series having a first lien on one division of the road and a second lien
on the other two divisions that are under the mortgage. Series “ A ”
bonds are a first mortgage on road from Winston-Salem, N. C. to Mar­
tinsville, Va., 60 miles; series “ B ” on road from Martinsville to
Roanoke, 62 miles; series “ C ” on projected line to South Carolina
State line, about 58 miles. Capital stock authorized $8,000,000; out­
standing $974,000; par of shares, $100.
R och ester & Genesee V a lle y .—Owns from Avon to Rochester,
N. Y., 18 miles. Leased July 1,1871, in perpetuity, to Erie Railway.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
R o c k Is la n d & P e oria.—Owns from Rock Island, 111., to Peoria,
111., 91 m iles; Rock Island <sMercer County Railroad, 22 m iles; total,
S
113 miles. The Peoria <sRock Island was sold in foreclosure April 4,
S
1877, to the bondholders. In the year ending June 30,1890, gross
earnings, partly estimated, were $633,096; net, $168,142. President,
R. R. Cable.
, '
R o m e W a te r to w n & O gdensburg.—(See Map New York Cen­
tral & Hudson River R ailroad.)—Owns from near Niagara Falls to
-Massena Springs, N. Y., 299 miles, less 28 miles, Richland to East
Oswego, leased from the Oswego <sRome RR.; Richland to Rome.41 miles;
S
branches to Cape Vincent, Ogdensburg, Pulaski, Fulton, etc., 109 miles;
total owned, 421 miles. Leases Utica <sBlack River Railroad, Utica to
S
Ogdensburg, and Clayton branch, 150 m iles; Oswego <sRome Railroad
S
as above, 28 m iles; Carthage Watertown <sSaekett’s Harbor Railroad,
5
Carthage to Sackett’s Harbor, 30 m iles; trackage—to Niagara Falls, 2
m iles; Fulton to East Oswego (New York Ontario <sWestern Railway),
S
12 m iles; total leased, 222 miles. Total operated, 643 miles.
In March, 1891, leased during the full term of its corporate existence
and renewals thereof to the New York Central <s Hudson River RR.
S
Co., which assumes the debt and guarantees 5 per cent on the stock.
The stockholders received a stock dividend of 20 per cent. For wording
of guaranty see V. 52, p. 463. Stock authorized $10,000,000.
The Utica <Ss,Black River is leased in perpetuity, interest on bonds and
7 per cent on stock being guaranteed. The consolidated mortgage
bonds o f 1890 are guaranteed, principal and interest, by the Rome
Watertown & Ogdensburg. See V. 50, p. 771.
Dividends from 1887 to February, 1891, both inclusive, at rate of 6
per cent yearly; March, 20 per cent.in stock; in May and thereafter 5
per cent per annum guaranteed.
From July 1, 1890, to March 31 (9 months), gross earnings were
$2,804,258, against $2,945,259 in 1889-90; net, $1,218,106, against
$1,333,139. Surplus over charges, $473,187, against $587,366 in 1889.
Fiscal year now ends June 30. Report for 1889-90 in V. 52, p. 39.
Earnings were as follow s:
1889-90.
1888-89.
$
$
3,904,966
3,387,333
1,444,086
1,696,028
Deduct—
1,054,623
1,050,454
359,502
. 328,068
1,414,125
.1,378,522
281,903
65,564
—(V. 49, p. 236, 690; V. 50, p. 36, 174, 276, 632, 707; V. 51, p. 207,
241, 681; V. 52, p. 3 9 , 322, 463, 498, 796.)
R u t l a n d . —Owns from Bellow’s Falls, Vt., to Burlington, Vt., 120
miles. This road has been through many changes. Re-leased for
999 years from January 1,1891, to the Central Vermont for $345,000
per year in gold, and taxes, the Rutland to furnish $500,000 at 5 per
cent for equipment and improvements. The 5^per cent seconds are a
Urst mortgage on rolling stock and personal property. A consolidated
mortgage for $3,500,000 is to be issued to provide for the retirement of
prior liens, when due, and for equipment and improvements. See V. 52,
p. 239. The Delaware < Hudson owns $3,000,000 of the preferred
fc
and $1,000,000 of the $2,480,600 common stock (par $100); but the
Central of Vermont has the option of purchasing at any time a con­
trolling-interest. Dividends on preferred stock since 1880—In 1881,
Ha per cent; in 1882, 2 ; in 1884 and 1 8 8 5,1 ; in 1886 and 1887, l ^ ;
in 1 8 8 8 ,1 ; in 1889,1*2; in 1890, January, 1 ; July, 1; Dec. 31, 1. (V.
51, p. 910; V. 52, p. 41, 239.)
S a g in a w V a lle y & St. L o u is .—Owns from Ithaca to Pains, Mich.,
36 miles, and leases Alma to St. Louis and Pains to Saginaw, 9 miles ;
total, 45 miles. Opened January, 1873. Stock authorized, $300.000 ;
outstanding, $264,804 ; par, $100. In 1890, gross, $103,706 ; net, $49,385; rentals, $7,000; interest, $35,680; surplus, $6,705. Deficit under
interest in 1889, $3,369. In July, 1879, management was transferred
to the Detroit Lansing & Northern. (V. 50, p. 703.)
St. J oh n sb u ry & L ake C h am p lain .—Owns from Lunenberg,
Vt., to Maquan Bay, on Lake Champlain, 120 miles, and branch from
North Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
the Portland & Ogdensburg, Vermont Division, and was reorganized un­
der present title in 1880. Preferred stock, $1,298,500; common stock,
$2,550,090. In September, 1890, $2,500,000 of 4 per cent bonds




$802,000
555,200
1,500,000
150,000
450,000
7,668,100
417,800
1,021,500
1,000,000
6,989,000
500,000
100,000
175,000
130,000
325,000
1,103,000
500,000
200,000
1,300,000
4,539,100
1,500;000
1,500,000
446,000
628,000
41,000
m

6 g3
2^3
10
6
Vs
*
6
7
7
5
7
6
6
5 g.
5
3*2
7
7
4 g.
1
6
5
8
6 g.
5
4

J. « s J. Balt., Merc. Tr. « s Dep.
S
S
J. « s J. N.Y.,by N.Y.L.E.«SsW.Co
S
J. « s J. N. Y., Com Exch. Bank.
S
J. « s J.
S
do
do
J. & J.
do
do
Q .-F . N.Y.,Grand Cent. Depot
M. « s S.
S
do
do
J. < D.
fc
do
do
J. « s j .
S
do
do
A. « s O.
S
do
do
J. & J.
do
do
F. « s A.
S
do
do
F. « s A.
S
do
do
do
A. & O.
do
do
do
M. « s N.
S
do
do
M. « s S.
S
do
do
J. « s J.
S
• do
do
J. « s J.
S
do
do
J. « s J.
S
Rutland, Clem. Nat. Bk.
M. & N. Bos.,Globe NatBk.&Rut
do
do
F. « s A.
S
M. « s N. Boston, Second Nat. Bk.
S
Boston, Am. L. <SsTr. Co.
A. « s O.
S
Boston.
Q .-J .

>M3M
T P "n c q iiflf
O " ua n
Jan. 1. 1919
Jan. 1, 1891
Jan. 1, 1891
Jan. 1, 1900
Jan. 1, 1925
May 15,1891
Sept. 1, 1910
Dec. 1, 1891
Jan. 1, 1892
July 1, 1922
July 1, 1901
Feb. 1, 1915;
Feb. 1, 1915
Apr. 1, 1916
May 1, 1918
Sept., 1890
Jan. 1, 1894
July 1, 1898
July 1, 1922
Dec. 31,1890
Nov. 1, 1902
Aug. 1, 1898
May 1, 1902
Oct. 1, 1910
Apr. 1, 1914

were authorized to fund floating debt, which on June 30, 1889
amounted to $1,045,233. Operated by Boston <s Maine. In year end­
S
ing June 30,1889, gross earnings were $364,342; deficit from opera­
tions, $101,361. (V. 51, p. 345.)
St. Joseph & G rand Isla n d .—(See Map o f Union P acific.)—
L ine of R oad—St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kan­
sas City & Omaha Railroad, Stromsburg to Alma, 151 miles, and McCool
Junction to Kansas City <s Omaha Junction, 44 miles; total, 447 miles.
S
This company was organized in June, 1885, as successor of the St.
Joseph <sWestern, sold in foreclosure, and includes also the Hastings <s
S
S
Grand Island Railroad and the bridge at St. Joseph. Tbe road is oper­
ated by the Union Pacific, which owns $2,301,500 of the $4,600,000
stock (par, $100), and guarantees the interest on the first mortgage
bonds. Kansas City & Omaha bonds have interest guaranteed by St.
Joseph <s Grand- Island and Union Pacific under a perpetual agreement
S
for operating the road. The Union Pacific owns $1,182,500 bonds and
$1,725,375 of the $4,438,100 stock of the Kansas City <s Omaha,
S
and St. Joseph & Grand Island owns $413,000 of the bonds and
$1,822,500 stock.
From January 1 to March 31, 1891 (3 months), gross earnings on
4 i6 miles were $167,143, against $375,631; net, $29,673, against
$157,095. In 1890 gross earnings, including K. C. <s Omaha, $1,253,S
592; net, $355,454; total net income (including amount received from
Union Pacific under traffic agreement, etc.), $447,538; interest on
bonds, $420,000 ; corporate expenses, $2,196; due K. C. < Omaha
fc
under traffic agreement, $83,125; deficit for year, $57,783. In 1889,.
gross, $1,267,658 ; net, $460,204; total net income (including amount
paid by U. P. under traffic agreement, etc.), $444,232; surplus over
charges, $22,160; due Kansas City & Omaha on traffic agreement,
$60,214; balance, deficit, $38,054. (V. 51, p. 570.)
St. L o u is A lto n & Springfield.—Owns Bates, 111., to Alton, 111.,
87 miles. Uses Wabash track to Springfield, 13 miles, but road to be
built to that point. In October, 1890, Joseph Dickson of St. Louis w as
appointed receiver, and in December he was permitted to issue $300,000 of 6 per cent receiver’s certificates, payable in one year. See
V. 51, p. 830. Reorganization is proposed. First mortgage bonds
for $1,200,000 and 2d mortgage bonds for $300,000 are outstanding as
collateral. Stock authorized, $1,500,000; par, $100. Trustee of mort­
gage, Farmers’ Loan <sTrust Company. (V. 50, p. 632, 669; V. 51, pS
570,830.)
St. L o u is A lto n & Terre H a u te .—(«See M ap).—Proprietary line,
East St. Louis to Belleville, 14 miles. Leases: Belleville & Southern
Illinois RR., Belleville to Du Quoin, 111., 57 miles; Belleville & Eldorado
RR., from Du Quoin to Eldorado, 50 miles; Belleville & Carondelet R R.,
from Belleville to East Carondelet, 17 miles; St. Louis Southern, Pinck­
ney ville to Carbondale, 111., 31 miles; Carbondale <s Shawneetown,
S
Carbondale to Marion, 17 miles; Chicago St. Louis <s Paducah, Marion
S
to Paducah, and branch, 53 miles; total operated, 239 miles.
In addition company owned main line from East St. Louis, 111., t o
Terre Haute, Ind., 189 miles, and branch to Alton, 4 miles, which were
leased to the Cleveland Cincinnati Chicago <s St. Louis and which in
S
October, 1890, were sold to that company for $10,000,000 of 4 per cent
100-year gold bonds. See V. 51, p. 52,114, 383, 494. The company
retains the terminals, etc., which it has been using for the last tw enty
years.
The sale of the main line did not affect the status of this company’s
securities. Of the $10,000,000 bonds received, $250,000 were placed
in a sinking fund for the issue itself (bonds to be purchased, not drawn,,
at or under 105), and $7,000,000 are reserved to retire the bonds ma­
turing in 1894. Of the $2,750,000 bonds immediately at the disposal of
the company, $2,500,000 were offered to the holders of the preferred
stock, being sufficient to retire all but $800,000 thereof, at the rate of
$150 in bonds for $100 of stock. To May 22, 1891, $812,600 of pre­
ferred stock had been retired in this way, leaving $1,528,000 bonds
in the company’s treasury. See V. 52, p. 42, 81, 351,499.
Interest on 1st mortgage, series “ A,” is paid January and July; series
“ B,” April and Odtober; on 2d mortgage, series “ C,” February and
August; series “ D,” May and November.
H ollers of the St. Louis Alton <sTerre Haute 7 per cent bonds have
S
the right at stockholders’ meetings to cast 10 votes for each of their
$1,000 bonds.
The Belleville & Southern Illinois is leased to this company for 999
years from October 1,1866. Lease rental 40 per cent of gross earnings
up to $7,000 per mile (except on coal, <Ssc.), 30 per cent above $7,000
and up to $14,000 per mile, and 20 per cent on any excess of $14,000
per mile. Interest on bonds and sinking fund of $5,000 per year guar­
anteed by lessees.
Common stock of Belleville & Southern niinois is $430,000 and pre­
ferred $1,275,000, and dividends on preferred stock since 1-880 have
been—4 ^ in 1881; 5 ^ in 1882; 03* in 1883; 5*a in 1884; 5 in 1885; 5
in 1886; 6% in 1887; 6% in 1888 and 1889; in 1890, May 4 ; N o v .,4 V
The Belleville & Carondelet is leased for 983 years from June, 1883, at
a rental of $30,000 per year, which is a guarantee of interest on thebonds, the stock of $500,000 being owned by the St. Louis Alton &
Terre Haute.
The Belleville & Eldorado is leased for 985 years from July 1,1880,.
at a rental of 30 per cent of the gross earnings, but $15,400 per year'
guaranteed. Stock, $1,000,000; par, $100. The St. Louis Southern!
Railroad (including Carbondale <sShawneetown) is leased for 980 years1
S
for 30 per cent of gross earnings, minimum to be $32,000, and interest
on bonds being guaranteed to that extent. The Chicago St. Louis &

130




INTESTOJEtS’ SUPPLEMENT,

[V

o l.

LH ,

Mat , 1891.]

R ATT/RO AD
.

STOCKS

AND

BONDS.

131

Subscribers w i ll confer a great fa v o r by g iv in g im m ediate notice o f a n y error discovered in these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate perl When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. IPayable
Road. Bonds Value.
on first page of tables.

St. Joseph < Grand I,—1st M.,g.,int.guar. by U.P.c*
6
2d mortgage, Income, gold................................... c*
Kan. C. & O. RR. IstM. ($15,000p.m. )g.,int.gu.c*&r
St. Louis Alton &Spring.—1st M., g. ($12,000 p. m.)c*
2d mortgage, gold.....................................................
St. Louis Alton d Terre Haute—Pf. stock(7 cum.),con.
r
1st M.(ser. A.& B., each$l,100,000) ,s.f..not dr’n.c*
2d mort.,pref. (series C & D,each $1,400,000) .c*
2d mortgage, incomes............................. - ......... o'
Dividend bonds, income (see V. 48, p. 389)........
Belle. & So. 111.—IstM . (int.guar.) s.f.,n ot dr’n.c*
Belleville & Carondelet, 1st M . , B e l l e . toE.Caron.c*
Belleville & El Dorado—1st (int’ est guaranteed) c
2d mortgage..................... .................................. o'
St. Louis Southern—1st mort., gold, int. guar.. .c'

252
252
196
.87
207
207
207
56
16
50
50
31
31
17
53
53
161

1885 $1,000 $6,998,000
1.679.000
1,000
1885
2,735,500
1887 500 &c.
1,000 As collateral
1887
As collateral
1889
Too 1.655,800
2.200.000
1,000
1862
2,800,000
1,000
1862
1.700.000
1,000
1862
1.357.000
1,000
1881
1.030.000
1,000
1866
485.000
1,000
1883
220.000
1,000
1880
330.000
1,000
1880
550.000
1,000
1886
525.000
1,000
1886
250.000
1,000
1887
1,000,000
1,000
1887
1,000,000
1,000
1887
4,000,000
1886 500 &c

6
5
5
5
6
1
7
7
7

g.
g.
g.
g-

6

8
6

7

6

4
5
4
5
5
4

gg.
g.
gg.

N. N. Y., Central Trust Co, May 1, 1925
July 1, 1925
J. Last paid July 1887.
J. N. Y., Central Trust Co, Jan. 1, 1927
1918
New York.
S.
June 1, 1909’
Jan. 10, 1889
July 1, 1894
Seerem. N.Y., U. S. Trust Co.
July 1, 1894
do
do
See rem.
July 1, 1894
do
do
M. & N.
After Jan. ,’94
June 1
A. & O. N. Y., State Trust Co. Oct. 1, 1899
June 1, 1923
do
do
J. & D.
July 1, 1910
do
do
J. & J.
Aug. 1, 1920
do
do
F. & A.
Sept. 1, 1931
do
do
M. & S.
Sept. 1, 1931
do
do
M. & S.
Mch. 1, 1932
do
do
M. & S.
Sept. 1, 1917
do
do
M. & S.
Sept. 1, 1917
do
do
M. & S.
J. & J. N. Y., Farm. L. & Tr. Co Jan. 1, 1931

M.
J.
J.
M.

&
&
&
&

St. L. d San Fran.—See Atchison T. & S. Fe system
k

Paducah Road is leased for 978 years from Mareh, 1888, at 30 per cent j From Jan. 1 to April 30,1891 (4 mos.), gross earnings on 1,227 miles,,
'
,
of gross earnings, with guarantee of principal, and rental to pay first i were $1,287,187, against $1,178,764 in 1890. the receiver were as fo l­
Earnings of the road while in the hands of
mortgage interest. (V. 47, p. 801.) The first mortgage bonds on this lows, large expenditures for iron Dridges, steel rails, &c., being include*
road are redeemable after September 1,1892, at 105.
I
Of the $2,200,000 Series A and B bonds given in the table above as in operating expenses. (See V. 52, p. 322.)
/—
Year ending Dec. 31.-^
outstanding, $1,024,500 on January 1,1891, were held alive in the
Inc. or Deo.
1889.
1890.
sinking fund. Bondholders are not entitled to receive anything for
$
$
$
principal or interest until all arrears of dividend upon the preferred
Inc. 225,85T
4,102,142
stock and other prior legal claims shall have been adjusted, and a sur- Gross ea rn in g s............... 3,876.285
lus o f annual earnings reached which will be applicable to such divv
Inc. 1,554,897
Operating expenses........ 3,289,226
4,844,124
end bonds. See V. 48, p. 389. The preferred stock has a prior right to
a cumulative dividend of 7 per cent before any is declared on comm on
Net earnings............... 587,058 def.741,981
Dec. 1,329,040'
and the arrears accrued to Jan. 1,1891, amounted to 37ft per cent, or
$944,163. - The preferred stock is also convertible into common at par.
* Betterments and extraordinary expenses (included in pperating ex­
Common stock is $2,300,000; par, $100.
, . i
penses above) were $1,464,902 in 1890, against $363,506 in 1889.
Dividends on preferred stock since 1876.—In 1878,2 per cent; in 1881,
—(V
452, 520, 561, 875,.
3 and 55 in bonds; from 1882 to 1885, inclusive, 7; in 1886, 2 ^ ; in l887, 904; V. 50 p. 72.107,139, 207, 245, 276, 314, 353,121, 322, 643, 796.)
51, p. 21,114, 207,570, 609, 830; V. 52, p.
nil; in 1 888,lf t ; in 1889,1.
From Jan. 1 to March 31, 1891 (3 months), gross earnings were
St. L o u is V a n d a lla & Terre H a u te .—(See Map Pittsburg Cinr
$339,800, against $285,429 in 1890; net, $135,826, agamst $124,344.
cinnati Chicago < St. Louis.)—Owns from East St. Louis to luiaua»&
The annual report for 1890 was in V. 52, p. 717.
State line, 158 miles. Road opened July 1, 1870. Leased to thoTerr©*
Haute & Indianapolis RR. (for account of itself and the Pittsburg Cincin­
GENERAL FINANCIAL RESULTS.
nati Chicago & St. Louis RR.) at a rental of 30 per cent of gross earn­
1889.
1890.
1888.
1887.
ings. In 1889-90 it was agreed that in future the profits and losses
$
$
$
$
from operating this road should be divided between the lessees in the
Gross earnings....................... . 962,480 949,307 1,110,426 1,336,910 proportion of five-sevenths to the Pittsburg Cin. Chic. & St. Louis anal
461,748 527,767
400,796
Net earnings........................... . 441,401
two sevenths to the Terre Haute & Indianapolis. In 1890 a general
332,095 362,149
Rentals paid............. .............. . 255,883 249,936
settlement of old accounts was mad© with, tli© Terre^ Haute < Indian­
fc
129,653 165,618 apolis, under which this company received $*287,157 in cash and 5 pear
Net revenue..................... . 185,518 150,860
452,729 *440,412 centnotesfor $657,665, payable $25,000 monthly from August 1.1890.
Add rental o f main line, etc. . 452,437 452,540
In July, 1887, suit was brought by the lessor company to declare
582,382 606,030 the lease void, but Judge Gresham decided in favor of its validity,,
Total net receipts........... . 637,957 603,400
and the case has been appealed to theU. S. Supreme Court. _A decnjDeduct^469,000 469,000 ion is hoped for during the October, 1891, session. The first
Interest on funded debt........ . 469,000 469,000
94,078 146,996 mortgage and $1,600,000 of second mortgage bonds are guaranteed by
69,182
New equipment, taxes, & c.. . 169,962
the lessees, and also by the Pittsburg Cincinnati Chicago & St. Loui».
563,078 615,996 RR. Stock, $2,379,358 common and $1,544,700 of 7 per cent cumular. 638,961 538,182
Total deductions.............
19,304 df.9,966 tive p ref.; par $100. The Terre Haute & Indianapolis owns $326,000
65,218
Balance............................. .def.1,005
preferred and $500,000 common stock, and the Pennsylvania RR. hold»
$837,000 preferred and $225,000 2d mort. convertible 7s. In April,.
* Including interest on C. C. C. & St. Louis bonds in 1890.
1891, there was applied to the payment of all the accumulated divi­
—(V. 48, p. 372, 389, 3 9 7 , 855; V. 50, p. 4 8 2 , 632, 801; V. 51, p. 52 dends on the preferred stock up to Dec. 31,1878, the sum of $4.7,010.
114, 38é,459, 494; V. 52, p. 42, 81, 351, 499, 7 1 7 .)
Last annual report was in C h r o n ic l e , Y, 52, p. 278. In year
ending Oct. 31, 1890, gross earnings were $1,833,301; rental to StSt. L o u is A rkan sas & T e x a s.— e e St . L o u is So u t h w e s t e r n .
«S
Louis Vandalia & Terre Haute, $549,990; less charges, $370,4.59, leav­
St. L o u is Sc C airo.—Owns Cairo to East St. Louis and branch, 161 ing surplus, $179,531, against $148,585 in 1888-89. In 1885-6 profit tomiles. The former Cairo & St. Louis made default April 1,1874, and lessee was $23,687; in 1886-7 profit $117,821; in 87-8 profit $11,983?
was sold in foreclosure July, 1881. Stock is $6,500,000. In January, in ’88-9, $56,987; in 1889-90 profit $100,466. (V. 48, p. 68,126 ; V.
1886, a lease was negotiated till January 1,1931, to the Mobile & Ohio 50. p. 2 4 2 ;V . 52, p .2 7 8 .)
Railroad on the basis of a rental of 25 per cent (’• o p) of the gross
St. P a u l & D u lu th .—Owns from St. Paul, Minn., to Duluth, Minn.r
revenue of the whole line, Mobile to St. Louis, this rental being guaran­ 155 miles; branches to Clocquet, Grantsburg and Sandstone, 28 milest.
teed by the lessee to amount to $165,000 per year.
® ?5rJo o f leases—Stillwater & St. Paul Railroad, 13 miles; Minneapolis & Duluth*
n^1 Q
30.1890, gross, $727,095; net, $159,939 (against $144,487 m 1888-89); Railroad, 13 miles; Taylor’s F a lls * Lake Superior, 21 miles; Duluth
rental to St. Louis & Cairo, $172,127. See V. 51, p. 830.
Short Line, Thompson to Duluth, 18 m iles; total, 247 miles. Between*
North Pacific Junction & Duluth, 24 miles, the road is owned jo m tly
St. L o u is & C h icago.—Se e N o r t h & So u t h o f I l l in o is .
with the Northern Pacific.
,
. . . .
.
,, _
The Lak© Superior & Mississippi Railroad was sold in foreclosure M a y
,
St. L o u is Ir o n M o u n ta in ds Sou th ern ,—S e e M is s o u r i P a c if ic
1 1877, and this company organized June 27. The preferred stock
Sy st e m .
lands at par. Three
common stock
St. L o u is & San F ra n c isc o .—Se e A t c h is o n T o p e k a & Sa n t a received in payment for share of preferred has shares of Preferred stoolc:
have one vote, and each
one vote.
F e Sy s t e m .
has a prior right to 7 per cent; then common to receive 6 per cent.
St. L o u i s Sou th w estern .—Road extends from Bird’s Point, Mo.,
Dividends on common stock: In 1887, 3 and 15 in common stock; in*
opposite Cairo, 111., to Texarkana, Tex., 418 miles, and thence by 1888 and since, nil. Dividends on preferred since 1880: In 1881, 10»
the Texas road to Gatesville, 305 miles; total, main line, 723 miles stock; in 1882, 3^2 in cash; in 1883,7; in 1884,,3^¡and 7 in preferred
branches, Mt. Pleasant to Sherman, 110 miles; Tyler to Lufkin (narrow. stock; from 1885 to 1888, 7 ; in 1889, 5 V , Jan. 16,1890, 2 ^ ; Sept. 1,4*
auge), 89 miles: Corsicana to Hillsboro, Tex., 42 miles; Commerce to in 1891, March 2, 2*2. The second mortgage covers the right to lease*
ort Worth, 97 miles; Lewisville, Ark., to Shreveport, La., 60 miles; lines, but not the land grant.
...............^-s. „ „
,__, __
Altheimer to Little Rock, Ark., 43 miles; Malden, Mo., to Delta, 51
The company has a land grant, of which 1,068,855 acres remained n ik
miles ; other branches. 12 miles ; total, May, 1891,1,227 miles.
sold June 30,1890, and 65,441 acres of the Taylor’s Falls branch.
This company is successor to the St. Louis Arkansas & Texas, whose
From July 1,1890, to March 31,1891 (9months), gross earnings wer©*
road was sold in foreclosure in October, 1890, the same property having $1,168,114, against $1,067,422 in 1889-90; net, $429,674, agamst $338,been previously foreclosed in 1885-86. See plan of reorganization m 916.
C h r o n ic l e , V. 50, pp. 141 and 561. In May, 1891, the receiver of old
Fiscal year ends June 30. Report for 1889-90 was in Y 51, p. 536.
company was discharged and new securities were issued by the Central
Earnings have been as follow s:
1889-90.
Trust Company. See V. 52, p. 796.
T . „ ..
looo-Ot/.
The organization consists of three corporations.—the St. Louis Soutn$
western Railway Co., the St. Louis Southwestern Railway Co. of Texas Gross earnings.................................. —................... 1,406,865
1,410,527
and the Tyler Southeastern.
,
ag'.'
. Total net income................ ....................................
415,56$
402,178
The first mortgage certificates are issued against a like aggregate
Disbursements—
01_ Q1.
amount of first mortgage bonds secured upon these lines at a rate not
258,915Rentals, interest, e t c ...,.......................................
exceeding $16,500 per mile, and the second mortgage certificates
134,117
Dividends............................................ - .......- •— - 295,040 ___________
against second mortgage bonds at $8,250 per mile.
Of the first mortgage certificates, $500,000 may be reserved for
T o t a l....................................
513,851
393,032
a period not exceeding five years. The new incomes will receive from
Balance from RR. operations.................... def.$111,673 sur.$22,534
January 1,1891, such interest, payable semi-annually, not exceeding 4
ll i ,o 9 b
luz.aagper cent per annum, as can be paid out of net earnings of the railways Receipts from stumpage and lands...................
Soring the preceding fiscal year, after payment of operating expenses,
B a la n c e .................. . . d L . / . ........................ def.$77 sur.$215,362
repairs, renewals, replacements, taxes, insurance and interest on prior
liens. The issue of these certificates may be increased up to $10,000,- -(V . 48, p. 129, 4 6 0 , 609,829; Y. 51, p. 241, 275, 536.)
000, subject to restrictions provided in the mortgages as to their issue
S t. P a u l M in n e a p o lis & M a n it o b a .—See Great N orthern »
and application of the proceeds.

S

f




122




INVESTORS’ SUPPLEMENT.

[Voi* LU.

Ma y ,

1891.]

RAILROAD

STOCKS

AN D

1 3 3

BONDS.

Subscribers w i l l con fer a great fa v o r by g iv in g Im m ed iate notice o f any error discovered In tbesefT ab les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
pal,^When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
4For explanation of column headings, &c., see notes of
of
Par
Outstanding Cent. Payable
Whom.
Dividend.
on first page of tables.
Road. Bonds Value.

"■ t. Louis Southwestern—Common stock....................
S
Preferred stock (5 per cent non-cumulative)........
lstm ort. cert. ($20,000,000), $16,500 p. m., g..c*
2d M.income cert., for $10,000,000,non-cum.,g.c*
St. Louis Van. <t T erreS .—1st M., s.f. guar, not dr.c* 158
2d mort., sink, fund, not dr’n ($1,600,000 guar.) .c* 158
St. Paul < Duluth—Common stock
£
» ....................
Preferred 7 per cent stock and scrip......................
1st mortgage....................• .............. ................. c* 167
.....
2d mortgage........... . ................. ...... ............ . . . . c* 167
21
Taylor’s Palls & Lake Sup., 1st M. gu., s. f. not dr.c*
25
Duluth Short L. IstM , guar.,cum.,s.f. not dr’n.e*
Stillwater & St. Paul 1st mort., g. (not guar)........
12
St. Paul Minn. < Manitoba—See Great Northern—
&
St. Paul dtNo.Pacific—Stock ($10,000,000) authoriz’d 184
Western RR. Minn. 1st M. RR. covered by gen. M. 60*2
General mortg., guar., land gr. ($10,000,000).c*&r 218
San Ant. < Aransas Pass—1st M., g., red. at 110.c* 152
£
1st M., exten., gold ($12,000 p. m.) red. at 110.c* 372
1st M. for $9,000,000, gold, $15,000 per mile, .c* 115
2d M., g., income for 5 years, $8,000 per mile___ 639
Rolling stock lease warrants...................................
iSandusky Mansfield < Newark—Re-organized stock Ï16
£
lstM.,int. gu. under lease byB.& O.and Cent.O.. .c* 116

1891
1891
1867
1868
1881
1887
1884
1886
1870
1877
1883
1885
1886
1888
1888
1869

$100 $16,500,000
100 20 , 000,000
1,000 19,500,000
8, 000,000
500 &C.
7
1.899.000
1,000
7
2.600.000
1,000
& 15 st
100
4,660,207 3
5,376,910
100
2ia :
5
1, 000,000
1,000
5
2, 000,000
1,000
6
210,000
1,000
5
500,000
1,000
7
262,500
100
1,000
1,000
1,000

1,000
1,000
1,000

” 50
1,000

St. P a u l Sc N orthern P acific.—Line of R oad—Brainerd to
Minneapolis, 139 miles, and branches to St. Paul, &e., 79 miles; total,
218 miles. Owns terminals in Minneapolis on 20 acres, and owns in all
some 400 acres about St. Paul and Minneapolis. The land grant (197,388
acres unsold March 1,1890,) is between Brainerd and Sauk Rapids; pro­
ceeds of lands are first applied to purchase of Western Minneapolis
bonds, then to general mortgage at 120 or under. The road, with its
terminal property, is leased for 999 .years to the Northern Pacific, at a
net rental equal to 40 per cent of the gross receipts, but any surplus
over 6 per cent on stock is divided equally between lessor and lessee.
The bonds are guaranteed by Northern Pacific. Interest on coupon
bonds is payable F. & A.; on registered bonds, Q.—F. The stock is
placed in trust with the Farmers’ Loan & Trust Company, but power to
vote is in the Northern Pacific Company; “ beneficial certificates,” en­
titling holders to dividends, are issued. Of the stock $3,752,500 is
owned byNorthern Pacific. Dividends from 1883 to May, 1890, inclusive,
per cent per annum. In year ending June 30,1890, gross earnings
were $2,052,099; rental from Northern Pacific, $740,652; other rentals,
A c., $161,274; total net income, $901,926, from which paid interest,
&c., $538,803; dividends, $330,000; total payments, $868,803; surplus,
#33,123.—(V. 49, p. 23, 540; V. 51, p. 5 3 5 .)
San A n to n io A A ran sas P a ss.—(See Map) —Owns from Kerrville
to Aransas Bay, Texas, 221 miles; Kenedy-to Houston, 176 miles;
Yoakum to Lexington, 88 m iles; Skidmore to Alice, 43 m iles; Shiner to
Lockhart, 55 miles; branches to Corpus Christi, Rockport, &c., 63
m iles; total, 646 miles. Company was unable to meet July, 1890, in­
terest, and on July 14, B. F. Yoakum, Vice-President, and J. S. Mc­
Namara were appointed receivers. See V. 51, p. 21, 85, 207. For the
report to the bondholders on the condition of the property, see V. 51,
p. 345. The reorganization committee is F. P. Olcott, Joseph Wharton,
Henry Budge, E. P. Swenson, A. S. Heidelbach, J..Kennedy Tod and
Fred. Cromwell. Their plan of reorganization was published in March,
1891 (see V. 52, p. 464), and provides as follows :
The whole property shall be acquired by foreclosure or otherwise,
and the following new securities created covering all the property:
1. First mortgage five per cent fifty-year gold bonds of
$1,000 each, Carrying interest from July 1st, 1891:
Issue limited to ...................................... $16,800,000-$21,000 p. m.
Reserved for extension to Llano and
Austin and for additional rolling
stock as required........ I.......................
2,100,000

6.250.000
438,000
7.985.000
1.750.000
4.473.000
1.725.000
5.112.000
1.046.000
1,068,832
2.300.000

M.
J.
J.
M.

&
&
&
&

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

&
&
&
&
&
&

N. N. Y., Central Trust Co.
J. After ’90, when earned.
J. N. Y., Central Trust Co.
do
do
N.
N. Y., Of., 32 Nassau St.
do
do
S.
do
do
A.
do
do
O.
do
do
J.
do
do
S.
do
do
D.

Nov.
Nov.
Jan.
May
July
Mch.
Aug.
Oct.
Jan.
Sept.
Dee.

1.
1,
1,
1,
5,
2,
1,
1,
1,
1,
1,

1989
1989
1897
1898
1887
1891
1931
1917
1914
1916
1900

N. Y., Office, 35 Wall St.
N. Y., Winslow, L. & Co.
do
do
Jah.,1890, coup, lastpd.
Jan.,1890, coup, lastpd.
Apr.,1890, coup.last pd.
None paid.

May
May
Feb.
Jan.
July
Oct.
Oct.

1,
1,
1,
1,
1,
1,
1,

1891
1907
1923
1916
1926
1938
1913

Q .-F .
1*2
M. & N.
7
6 g. Various
J. & J.
J. & J.
A. & O.
A. & O.

7

Feb. 1. MossN. Bk., Sand’ky,0. Feb. 1, 1891
J. & J. N. Y., Union Trust Co. Jan. 1. 1909

From July 1,1890, to April 30, 1891 (10 months), gross earnings
were $675,532, against $604,100; net, $218,445, against $173,777; sur­
plus over charges, $45,355, against $5,798. In year ending June 30,
1890, gross earnings were $755,293; net, $253,510; interest, taxes and
sinking fund, $251,778; surplus, $1,732. J. F. Burgin, President, San
Francisco. (V. 48, p. 800; V. 5 l, p. 2 05.)
S avan n ah A m ericu s A M o n tg o m e ry .—(See Map.)—Owns
from Omaha, Ga., on the Chattahoochee River, easterly, 190 miles, to
Lyons, where connection is made with the Savannah & Western (Cen-.
tral of Georgia system), forming a direot line to Savannah, Ga. An
extension is in progress from Omaha to Montgomery, Ala. See V. 52,
p. 322, 535. Under a traffic contract with the Savannah & Western,
through trains run via this line from Savannah to Birmingham. Ala.
This was formerly the Americus Preston & Lumpkin. Of the 1st
mortgage bonds $100,000 are a first lien on 38 miles; the others oover
extensions, being a second lien on the 38 miles. The new consol,
mortgage is for $4,100,000 (Mercantile Trust Company of Baltimore,
trustee). Stock authorized is $5,000,000; outstanding, $152,783; par
$100. Car trusts and notes $290,481, bearing 7 per cent interest and
due yearly 1891 to 1898, payable $2,611 monthly.
From July 1,1890, to March 31,1891 (9 months), gross earnings on
190 miles were $380,926, against $165,848 on 175 miles in 1889-90;
net, $168,207, against $82,196. In year ending June 30,1890, gross
earnings were $240,260; net, $111,642; surplus over fixed charges,
$44,874.—(V. 48, p. 369, 764; V. 52, p. 322, 535, 796.)
S a v a n n a h F l o r i d a A W e s t e r n .—Owns from Savannah, Ga., to
Chattahoochee, Fla., 258 miles; 3 branches to Bainbridge, &c., 15 miles.
Dupont to Gainesville, 118 miles; Thomasville to Albany. 58 m iles;
Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to Jackson­
ville, 75 miles; Fort White, Fla., to Lake City, Fla., 20 miles;»total, 569
miles. In January, 1888, control was purchased of the Brunswick &
Western Road, Brunswick to Albany, 171 miles, with bonds as above,
the first mortgage bonds being guaranteed. In 1890 a controlling
interest in the Alabama Midland was acquired by the Plant Investment
Co., which controls the system. See Alabama Midland; also, Y. 51, p.
50. The Metropolitan Trust Co., of N. Y., is trustee of the mortgages.
The- Savannah Florida & Western stock is $6,403,400 (par $100) and
dividends have been: In 1881, 9 ^ per cent; in 1882, 6*2 ; in 1883, 7 ; in
1884, 4 ; in 1887,1% ; in 1889, 4. In 1889 gross earnings were $2,954,624; net (after payment of about $100,000 for extraordinary expendi­
tures) $564,306; surplus over fixed charges, $116,562. In 1888 gross
earnings, $2,853,030; net, $669,302; surplus overcharges, $260,773.
H. B. Plant, President, New York. (V. 51, p. 50; Y. 52, p. 761.)
S avan n ah A W e ste rn .—Owns from Birmingham, Ala. (connee
tionw ith Kansas City Fort Scott & Memphis), to Americus, Ga., 222
m iles; Columbus to Greenville (narrow gauge), 50 m iles; Opelika to
Roanoke, 37 m iles; Eufaula to Ozark, 60 miles; Meldrim to Lyons, 58
m iles; total, 428 miles.
In May, 1891, the Chattanooga Rome & Columbus (which see) was
purchased for $400,000 consolidated 5s, the Savannah & Western guar­
anteeing $2,240,000 bonds. This acquisition adds 176 miles to the
above mileage. See V. 52, p. 761.
This was a consolidation m August, 1888, of the Columbus & Western
and other roads. Road belongs to the Central of Georgia system. Stock
is $3,000,760 (par $100), all owned by the Central of Georgia. The
consolidated mortgage (trustee, Central Trust Company, New York) is
for nominally $18,000,000, of which $1,560,000 held in trust for prior
liens; abstract of mortgage in V. 49, p. 240; principal and interest is
guaranteed by Central Railroad & Banking Company of Georgia. In
1889-90 gross earnings on 386 miles were $889,362; net, $208,086.
against $87,485 in 1888-89. President, Gen. E. P. Alexander, Savan­
nah, Ga.—(V. 47, p. 218; V. 48, p. 729; V. 51, p. 910.)
S ch u y lk ill V a lle y .—Owns from Palo Alto to Reevesdale, Pa., 11
m iles; branches, 8 ; total, 19 miles. Leased to Philadelphia & Reading
Railroad for 999 years from Sept. 1,1861, at 5 per cent on stock. Has
no bonded debt.
Scioto V alley A N ew E n g la n d .—See Norfolk & W estern.

Present issue for the purposes of this reorganization___ $14,700,000
2 . Five per cent non-cumulative preferred stock. . ............ $5,250,000
$. Common stock, par value $100 per share.......................
$5,250,000
Assenting security holders will receive (1) for old first mortgage 6 per
•cent bonds, with July, 1890, and subsequent coupons attached, new
first mortgage 5 per cent gold bonds, $1,000; new 5 per cent preferred
«took, $150, and new common stock, $150. (2) For each old first mort­
gage 5 per cent bond, October, 1890, and all subsequent coupons
•attached, new first mortgage 5 per cent bonds, $850; new preferred
stock, $120; new common stock, $120. (3) For each old $1,000 second
mortgage bonds, all coupons attached, new first mortgage 5 per cent
bonds, $225; new 5 per cent preferred stock, $250; new common
stock, $250. (4) For each share of old stock (in the hands of the public)
#100 in new stock.
Each holder of $2,000 old firsts may subscribe to a cash fund created
to liquidate cash requirements for $850 of said fund, for which he will
receive $1,000 new firsts, $350 new preferred and $350 new common.
The stock of the reorganized company is to be transferred to voting
trustees in exchange for beneficiary certificates, the committee being
named as trustees for three years from July 1,1891. Securities are
•depositedwith the Central Trust Company of New York in exchange
for the Trust Company’s engraved receipts.
On April 10,1891, the committee controlled the unfunded debt of the
•company (including liens upon the road, branches, terminals and roll­
ing stock claimed to be prior to the mortgages), the capital stock, the
income bonds and a majority of each issue o f the first mortgage bonds.
Abstract of 1886 mortgage given in V. 45, p. 372. Stock issued, $5,•000,000. From January 1 to November 30,1890 (11 months), gross
S e a b o a r d A R o a n o k e . —Owns Portsmouth, Va., to Weldon and
earnings on 510 miles were $1,564,684, against $1,266,690 on 413 miles
in 1889- (V. 49, p. 23,174, 236, 270, 511, 690; V. 50, p. 107; V. 51, p. branch,N. C., 81 miles; leases Roanoke & T. R. Railroad, 29 miles.
Also has a controlling interest in the Raleigh & Gaston Railroad, 109
21, 85, 143, 207, 276, 345, 383, 538, 571, 788; V. 52, p. 204, 464, 499,
miles, and thus in the Raleigh & Augusta Air Line, 107 miles, and Caro­
.574.)
lina Central, 269 m iles; also controls Pittsboro Railroad, 11 miles, and
Sandusky M ansfield A N ew ark ¿—Owns from Sandusky, O., to Carthage Railroad,. 11 m iles; total of all, 618 miles. Of the stock, $1,Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti­ 058,700 is common, $200,000 is 1st preferred 7 per cent guaranteed, and
more & Ohio, Feb. 23,1880, till Dec. 1,1926, with option to the Balt. & $44,200 is 2d pref. guaranteed. The debentures above are to be included
•Ohio Co. to renew for terms of 20 years each. It is operated as Lake in any 2d mortgage issued. After August 1,1916, they are payable at
Erie division of the Baltimore & Ohio system. Rental is $201,850. In will as a whole, or in 10 per cent instalments. _ Semi-annual dividends
1888- 89, gross, $1,177,519; net, $283,177; profit to lessee, $58,041. Inof 5 per cent were paidr for several years, but in November, 1890, and
1889- 90 gross, $1,211,170; net, $271,397; profit to lessee, $47,162.
May, 1891, the dividend paid was 3 ^ per cent.
With Raleigh & Gaston guarantees the bonds of the Georgia Carolina
San Fran cisco A N orth Pacific.—Point Tiburon, Cal., to Ukiah, & Northern, which see.
■Cal.. 106 miles, and branches, 56 miles. Consolidation of various com­
In year ending June 30, 1890, gross earnings on road proper, 114
panies March 19,1889. Connects with San Francisco (6 miles) by com­ miles, $681,619; net, $275,267; other income, $90,349; total, $365,pany’s steamer. Bonds issued at $25,000 per mile; trustee, Mercantile 616; surplus over fixed charges, $235,154; from which paid dividends
Trust Company, New York; sinking fund, $25,000 per annum, and (10 per cent), $130,290; surplus over dividends, $104,864, against
bonds drawn (or purchased) at 110 and interest. [See abstract of the $132,618 in 1888-89. J. M. Robinson, President, Baltimore, Md. (V.
mortgage in V. 49, p. 241.] Capital stock, $6,000,000; no floating debt. 46, p. 539, 678, 827; V. 49, p. 435; V. 51, p. 344; V. 52, p. 350, 427.)




!2 4
IN V E S T O R S ’
SUPPLEM EN T.




BONDS.
ART)
STOCKS
RAILROAD
Ma t , 1391.]



126

INVESTORS’

SUPPLEMENT.

[V ol. LH.

Subscribers w i ll confer a great fa v o r by g iv in g Im m ediate notice o f a n y error discovered In tbese T a b les.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date
pal, When Due.
Amount
Fer explanation of column headings, &c., see notes of
of
Par
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent.
Payable
Whom.
Dividend.

San Fran. < No. Pac.—1st M.,g.($4,500,000)s.f.c*<fcr 162 1889
&
1,000
4,176,000
5 g- J. & J. N.Y.,46Wall,& Fr’nk’frt Jan. 1, 1919
Savannah Amerious & Montgomery—1st morts........
1885-6
500
250,000
7
J. & J. New York & Americus. 1905 & 1906
Consol. mort.,gold, $12,000 per mile,$4,100,000 c* 176 1839
1,000
2,100,000
6 g. J. & J. Baltimore & Americus. July 1, 1919
Savannah Florida < West.—At. & G. consol. mort.c* 347 1867 500 &c.
£
1,780,000
7
J. & J. N.Y.,H.B.Plant,&Savan July 1, 1897
So. Ga. & Flor., 1st Ms., end by State of Georgia.e*
58 1869
1,000
464,000
7
M. & N.
do
do
May 1, 1899
2d mortgage, gold................................................. c
58 1869
1,000
200,000
do
do
7 g. M. & N.
May 1, 1899
: Sav.Fla. & West.,consol.M.for $6,500,000, g.e*«fcr 545 1884
1,000
4,056,000
6 g. A. & O.
do
do
Apr. 1, 1934
■ Monticello extension bonds........ .............................
290,400
6
A. & O.
do
do
Apr. 1, 1899
Brunswick & West. 1st M., guar, by S. F. & W .. . c* Ï7 Ï 1888 50Ó&C.
3,000,000
4 g. J. & J. N.Y.,12 W.23d St.& Sav. Jan. l ' 1938
Income bonds, non-eumulative............................
1888
1,000
3,000,000
5
None paid.
Irredeemable.
Savannah & Western—Gelumbus & West’n 1st M..c* Ì58 1881
1,000
800,000
6
J. & J. N.Y., Security & Tr. Co. Jan. 1, 1911
Columbus & Rome lstm ortgage........ .................c*
50 1884
1,000
200,000
6
J. & J.
do
do
Jan., 1914
; 1st consol, mort.. gold ($18,000 per mile), guar.c* 427 1889
1,000
6,395,000
do
do
5 g- M. & S.
Mch. 1, 1929
Schuylkill (6 Lehigh—1st mortgage........ ...................
600,000
4*2 M. & N.
Scioto Valley & N. Eng.—1st mortgage..................c* 3.31 1889
1,000 » 5,000,000
M. & N. N. Y.,Central Tr. & Phil Nov. 1, 1989
SeaboarddtRoanoke—St’k ($244,200 ispf. gu. 7p.c.) 1 81
100
1,302,900 3*2 com. M. & N. Balt., Farm.& Plant. Bk. May 1, 1891
\ Debentures, redeem, at will after July 31,1916.r
1886 100 &e.
690,000
6
F. & A.
Portsmouth, Va.
Aft. July,1916
0* "81 1886
1st mortgage for $2,500,000................
1,000
650,000
- 5
J. & J. N.Y., Baltimore & Phila. July 1, 1926
Seattle Lake S. < East.—1st M., g., $25,000 p. m.c* 218 1886
£
1,000
5,450,000
6 g. F. & A. N. Y., Union Trust Co. Aug. 1, 1931
Shamo/ctn Sunbury dt Lewisburg—1st mort___c*<fcr
31 1882
1,000
3,000,000
M. & N. Phila., Phil. &Read.RR. May 1, 1912
5
2d m ortgage....................... .................... J___ ___ e*
31 1890
1,000
1,000,000
6 g. J. & J.
do
do
July 1, 1925
Shamokin Val. < Pottsville—Stock, guar, by Nor. C.
£
29
50
869,450
3
F. & A. Phila., Penn. RR. Co. Feb. 1, 1891
1st mortgage, gold, on road and lands................ c
28 1871 500 &c.
2,000,000
7 g. J. & J.
do
do
July L 1901
Shore Line ( <onn.)—St’k, T^p.c.rent.N.Y.N.H.&H.
49
100
1,000,000
314 J. & J. N. H., Nat. N. H. Bank. Jari. 9, 1891
¿ 1 s t mortgage..................... .......................................
49 1880 l.OOO&c
200,000
4*2 M. & S.
do
do
March, 1910
^Shreveport < Houston—1st, g., guar, by H. E. &W.T.
£
40 1881
1,000
400,000
6 g. J. & J.
Interest in default.
July 1, 1914

; Seattle L ake Shore Sc E a ste rn .—Owns from Seattle to Sallal
Prairie and branches, 75 m iles; Spokane Falls to Davenport, 50 m iles;
Snohomish Junction to a connection with the Canadian Pacific at the
international boundary line, 116 miles; total, 237 miles. In July, 1890,
the Northern Pacific purchased about $3,000,000 of the $3,174,600
stock and guaranteed by endorsement both principal and interest of
the bonds.
From July 1,1890, to December 31,1890 (6 months), gross earnings
on 100 miles were $241,729; net, $78,822. In year 1889-90, on 90
miles, gross, $364,347; net, $155,420; fixed charges, $159,875; deficit,
$4,454.-(V . 50, p 314; V. 51, p. 114, 498.)
S h a m o k in Sunbury Sc L ew isb u rg .—Line from Shamokin to
West Milton, Pa., with iron bridge over Susquehanna, 31 miles. Leased
to Philadelphia & Reading till July 20, 2883, and used for coal traffic
northward. In 1890 stock was increased to $2,000,000 and new 2d
mortgage was issued. The old 2ds of 1884 have been eacneled. Stock,
$2,000,000; par, $50. (Y. 51, p. 21,)
S h a m o k in V alley Sc P o ttsv ille .—Line of road, Sunbury, Pa., to
Mt. Carmel, Pa., and branch, 30 miles. Leased February 27, 1863, for
999 years to the Northern Central Railway Co., with a guarantee of
taxes, interest on the bonds and 6 per cent on the $869,450 stock (par
$50), of which $619,400 is owned by the Northern Central. Pennsyl­
vania RR. owns $605,000 7 per cqnts. Gross earnings for 1889, $403,242; net, $213,559. Gross earnings for 1888, $409,677; net, $195,636.
George B. Roberts, President, Philadelphia.
Shore L in e (C o n n ).—Owns New Haven, Conn., to New London,
Conn., 49 miles. Leased to New York & New Haven RR. Co. in perpet­
uity November 1,1870, at $100,000 net per annum. Dividends usually
3*4 or 3*2 per oent in January and 4 per cent in July. Operations and
earnings are included in the reports of the lessee.
Shreveport Sc H o u s to n .—From Shreveport, La., to Logansport,
La., 40 miles; connects with Houston East & West Texas Road, forming
with that a narrow gauge line of 230 miles from Shreveport to Houston.
Mr. M. E. Howe was appointed receiver January 1,1890, and sale un­
der foreclosure took place on June 2,1890. (Y. 50, p. 353, 875.)
Silver Springs Ocala Sc G u lf.—Projected from Palatka, Fla., to
Point Pinellos on Tampa Bay, about 250 miles, and completed to Homosassa, 50 miles, with brauch, 9 miles. Stock, $2,500,000, par $100.
There is a land grant of 13,840 acres per mile, of which the mortgage
covers 4,000 acres per mile. Thomas C. Hoge, President, 56 Wall St.
Siou x City Sc N orth ern .—(See M ap)—'Owns road, completed in
February, 1890, from Sioux City northerly to Garretson, So. Dak., 96 miles.
At Garretson connection is made with the Great Northern, with which
there is a traffic contract for thirty years. The road forms part of the
Great Northern’s through route from Sioux City to Duluth, a distance of
435 miles. The mortgage (trustee, Manhattan Trust Company) is
limited by supplemental deed to $1,920,000. the amount now out­
standing. Stock authorized, $10,000,000; outstanding, $1,440,000.
From Jan. 1 to March 31, 1891 (3 months), gross earnings were
$103,058; net, $44,602. In 1890 gross, $310,046; net, $133,648. (V:
50, p. 276, 353; V. 51, p. 416, 459.)
Sou th B o u n d .—Under construction from Savannah, Ga., to
Columbia, S. C., 140 miles. The Savannah Construction Company,
with a capital of $737,000, is building the road and hopes to have it
completed in 1891. Mr. B. A. Denmark, of Savannah, Ga.,is President
o f the construction company. The mortgage is for $2,250,000; trustee,
Mercantile Trust & Deposit Co. of Baltimore.
South C aro lin a.—Owns from Charleston to Augusta, S. C., 137
miles; branches to Columbia, 68 miles, and to Canujen, 38 miles; exten­
sion, 4 males; total main line and branches, 247 miles. The Carolina
Cumberland Gap & Chicago Railroad, from Aiken to Edgefield, 25
miles, and the Columbia Newberry & Laurens Railroad, from Columbia
tò Clinton, 64 miles, are operated under a temporary arrangement
of the receiver of this road, making 335 miles operated.
Sold in foreclosure July 28,1881, and on Jan. 1, 1889, the company
defaulted again. Foreclosure suit under first mortgage is pending, and
plan of reorganization was given in V. 49, p. 174, but some flrstmortgage
bondholders opposed this, and in October, 1889, D. H. Chamberlain was
appointed receiver. There are also $178,000 old 5 per cent first mortgage
extended bonds, payable 1892, and $8,000 7s, due 1907, in addition to
’those above. In February, 1891, the Receiver paid to date interest on
all bonds having a lien prior to that of first consols and thè coupons
due April 1,1890, on the first consols. (See V. 52, p. 41.) The stock is
$4,204,160; par, $100; car trusts, $74,434, due December, 1893.
From July 1 to March 31.1891 (9 months), gross earnings on 313
miles were $1,378,812, against $1,161,651 in 1889-90 on 247 miles ;
net $530,460, against $389,543.
Review of operations for year ending June 30, 1890, was in the
C h r o n ic l e , V. 51, p. 223.
INCOME ACCOUNT.

1886-7.
$
Gross earnings...........1,131,203
Oper. exp. and taxes.. 894,832

1887-88.
$
1,256,587
853,141

Net earnings........ 236,371
403,446
—(Y. 50, p. 669, 741 ; V. 51, p. 207, 223, 416,




South Pacific Coast (N a rro w -g a u g e).—Owns from Alameda
to Santa Cruz, 77 miles; branches, 27 miles; total, 104 miles. The road is
leased for 55 years from July 1,1887, to the Southern Pacific Company,
which company guarantees the bonds and owns all but $7,000 of the
stock. Trustee of mortgage is Farmers’ Loan & Trust Company. The
stock is $6,000,000; par, $100. In 1890 gross, $1,105,543; net, $294,574; surplus over charges, etc., $18,704.—(V. 49, p. 540.)
Southern Central (N. Y ) .—Owns from North Fair Haven, N. Y .,
to Pennsylvania State Line, 114 miles, and branch 2 miles. The Lehigh
Valley leased this road from January 1,1887, for 975 years, without
any guaranty of interest. There are $90,000 of 7 per cent prior bonds
due in 1899. Six coupons from August 1,1886, inclusive, were funded
into income bonds. Stock, $1,774,950; par, $100. In 1890 gross
earnings were $510,962; net, $82,412; in 1889, gross, $457,163:
net, $63,381. Thomas C. Platt, President.—(V. 51, p. 715.)
Southern Pacific C O M P A N Y .—(See Map)—This corporation
was organized August 14,1884, under the laws of the State of Kentucky.
It has acquired a trans-Continental system of railroads, with a steam ship lines from New Orleans to New York, etc. On Jan. 1,1891, it had
proprietary lines in its Atlantic system aggregating 1,742 miles; in its
Pacific system, 2,396 miles; total proprietary lines, 4,138 miles; leased
lines (other than proprietary lines) in Pacific system, 2,088 miles; total
railroad lines, 6,226 miles.
The leased lines other than the proprietary lines are: The Central
Pacific, the Oregon & California and the California Pacific railroads.
The terms on which these roads are operated are stated under the head
of each company respectively.
The proprietary lines, with a total mortgage indebtedness Jan. 1,
1891, of $115,718,167, are all practically owned—only $2,220,802 out
of their total stock o f $149,964,752 not being held on Jan. 1,1891—by
the Southern Pacific Co. Five of the proprietary companies as below
designated are operated (for 99 years from April 1,1885), under the
so-called omnibus lease, under which the Southern Pacific Company
agrees to maintain the roads, to pay all fixed and other charges, includ­
ing interest on bonds and floating debt, and to divide the total net
profits from operating said roads, after making these payments, among
the several parties to the lease, the Southern Pacific Company to receive
10 per cent of such profits, and each of the other five companies the
percentage indicated below.
Proprietary lines operated under omnibus lease: Southern Pacific o f
California, receiving 44 per oent of net profits; Southern Pacific of Ari­
zona, 10 per cen t; Southern Pacific of New Mexico, 6 per cen t; Moran’s Louisiana &Texas, 23 per cent; Louisiana & Western, 7 per cent.
roprietary lines not operated under omnibus lease; South Pacific
Coast, Northern Railway, Northern California, Texas & New Orleans,,
Galveston Harris. & Sai* Antonio, Gulf Western & Texas, N. Y. Texas
& Mexican. For further information respecting these companies, see
separate statement for each.
Stock authorized, $150,000,000. See V. 48, p. 428.
Price of stock.—In 1886, 301
4@41:i2; in 1887, 29%@36%; in 1888,19
'3>271 in 1889, 21i2®37h3; in 1890, 22*2®373 in 1891, to March 20,
a;
4!
inclusive, 23@3112.
From January 1 to March 31, 1891 (3 months), gross earnings on
the whole system were $10,875,000, against $9,693,543 in 1890; net,
$3,499,833, against $1,950,436.
The annual report for 1 8 9 0 was given at length in C h r o n i c l e V .
5 2 , p. 7 1 6 , 7 1 9 . Earnings of the whole system, including steamship
lines, were as below given in 1 8 8 9 and 1 8 9 0 . The profits accruing to.
the Southern Pacific in 1 8 9 0 under the omnibus lease was $ 2 4 5 ,9 9 9 .
1889.
1890.
Average mileage operated.................... ....... 5,990
6,053
$
$
Gross earnings........................................ .......46,467,963
48,352,504
Operating expenses............................... .......30,406,427
31,155,103

f

Earnings over operating expenses....... .......16,061,536
Trackage and rentals............................. .......
521,952

17,197,401
509,606

T ota l.............*............... ....................
Deduct—
Taxes........................................................
Betterments and additions....................
Interest on bonded debt........ ...............
Rentals, &c.................................... .........

.......16,583,488

17,707,007

....... 1,218,510
.......
436,508
.......10,472,892
....... 3,109,381

1,234,298
265,625
10,259,819
3,569,551

Total................................................... .......15,237,291

15,329,293

Surplus............................................... ....... 1,346,197

*2,377,713

* Of the surplus here shown for 1890 there was due proprietary com ­
panies for earnings remaining after payment o f operating expenses,
taxes and charges, the following amounts: To proprietary companies
1888-89.
1889-90. under omnibus lease, $2,213,998; to other proprietary companies,
$632,201; due from Cal. & Oregon, $259,429; balance, $209,057. Bal­
$
1,279^692
1,420,762 ance to credit of income account January 1,1891, $24,582,214.
1,009,497
973,989 —(V. 51, p. 172; V. 52, p. 571, 702, 7 1 6 , 719.)
Southern Pacific o f A rizo n a .—This is the connecting line m
270,195
446,773 the Southern Pacific of California, extending from Yuma to N<‘ ->
910; V. 52. p. 41.)
Mexico boundary, 384 miles. The stock is $19,995,000, all but $2,400.

1W
BON DS.
AND
STO CK S
R A IL R O A D
May, 188lJ



138

INVESTORS* SUPPLEMENT,

|VoL. m i ,

Subscribers w i ll confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In tbese T a b les.
RAILROADS.
Bonds—Prinei INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due,
Amount Rate per
For explanation of column headings, &c., see notes of
Par
of
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.

Silver Sj). Ocala <t Qulf—ls t,l. gr.g.($15,000p.m.)c*
50 1888 $1,000 $3,000,000
Sioux City < Northern—1st mortgage, gold.......... c*
&
1,000
96 1890
1,920,000
South Bound—1st mortgage for $15,000 per m ile..
1891
South Carolina—1st mortgage, sterling loan........... 247 1868 Various
83,092
1st consol, mortgage (for $5,000,000)................... 247 1881
1,000
4,883,000
2d consol, mortgage.............................................. c* 247 1881
1,000
1,130,000
Income mortgage bonds (not cumulative)........ c* 247 1881
1,000
2,538,000
South Florida—1st mort.,gold, ($12,000 per mile) .c* 189 1885
1,000
2,256,000
So. (¿No. Alabama—lstM.,s.f.not dr’n; guar.byL.&N. 189 1873
£200
4,496,920
2dmort. bonds, s. f. $20,000 (owned by L. & N.). 189 1880
1,000
2,000,000
Consol, mortgage (for $10,000,000), gold, guar.c* 189 1886
1,000
2,971,000
S. Pacific <oast—1 stM., g., guar. (s. f. begins 1912)c 104 1887
1,000
5,500,000
South Pennsylvania—Stock (for $20,000,000)........
1,499,900
Southern Central (N. Y .)—Consol, mort. convert... c 114 1882 200 &c.
3,300,000
Funded coupons consol, m ortgage........................
1887
475,740
Southern Pacific COMPANY—Stock($150,000,000) 5,931
100 116,074,890
,8outh.Pac.of Arizona—IstM ., ser. A&B,g., guar.c<fcr 384 ’79-’80 1,000 10,000,000
So.Pac.(G al.)—IstM., g., series A ) land grant... c*
ì 1875 500 &c. 13,564,500
Series B, gold............................( sink’g fund..c*
11875 500 &o.
4,795,000
1,042 (1876 500 &e.
Series C & D, gold..................... j not subject..c*
8,609,000
Series E & F, g o ld .................... J to call........c*
J 1882 500 &c.
5,415,000
So. Pac. Branch 1st mort. sinking fund in 1897 , 93 1887
3,578,000
General mortgage, gold (for $38,000,000)_ c*&r 1,373 1888
_
1,00® 10,542,000
45 1875 500 &c.
Stockton & Copperopolis 1st M., g. (guar, by C.P.)
500,000
Southern Pacific o f New Mexico—1st mort. gold.c&r 167 1881
1,000
4,180,000
Southwestern ( Oa.)—Stock, 7 p. c., guar. Cent. G a .. 333
100
5,147,500
Southwest Pennsylvania—Stock............................. .
89
50
1,499,900
1st M., sink, fund $5,000 yearly, not drawn.......r
89 1877
1,000
900,000
being held by Southern Pacific Co. The bonds consist of series A, $6,000,000, due 1909, and Series B, $4,000,000, due 1910. Operated under
lease to Southern Pacific Co., the lessee paying all charges and also 12
per cent of the net profits of the whole Southern Pacific system.
From January 1 to March 31 (3 months) gross earnings In 1891 were
$483,275, against $478,766; net, $135,826, against $159,352.
In 1890 gross earnings were $2,000,594; net, $685,933; deficit under
eharges, $25,276; net profit due the company under the lease, $245,999.
Southern Pacific (o f C alifo rn ia).—f.See Map.)—Line op R oad .
—This is the title of a consolidation May 4, 1888, of several lines in
California, including the company of the same name, which had been
formed by a consolidation October 12,1870. The total mileage com­
pleted at the close of 1890 was 1,562, of which 242*5 miles were leased
to and operated by the Atlantic & Pacific RR. Co. Balance leased to the
Southern Pacific Co., which owns most of the stock, the lessee paying
the interest, fixed charges, betterments and additions, and $1,340,350
per cent of the surplus income of all the roads operated under the
“ omnibus lease.”
Stock and B onds.—The authorized stock is $90,000,000, par $100, of
which $61,821.900 is outstanding, all but $1,340,350 being held by the
Southern Pacific Company. The first mortgage bonds o f the several
series are all equally secured. They are bemg gradually retired with
proceeds of land sales, &c. They are not subject to call. There is also
a sinking fund of $100,000 per year. The new mortgage for $38,000,000 is dated August 25,1888, to cover old line and new roads acquired;
trustee, Central Trust Company. In April, 1891, it was a first lien on
469 miles. See mortgage abstract, Y. 49, p. 509.
Land Ghant.—The land grant was 12,840 acres per mile, and proceeds
of sales go to retire bonds. The total lands unsold January 1,1891,
were estimated at 7,250,000 acres, but a large proportion of this is bar­
ren and useless for agricultural purposes without irrigation. In 1890
the net sales were 96,758 acres, for $594,210; interest on deferred
payments, $155,302; land notes outstanding January 1,1891, $3,006,From January 1 to March 31 (3 months) gross earnings were $1,892,433 in 1891, against $1,819,562 in 1890; net, $611,038 in 1891,
against $433,819 in 1890.
m 1890 gross earnings of both divisions were $8,696,786; net,
$3,251,639; adding rental ($436,266) received from Atlantic & Pacific
RR., total net income, $3,687,905; surplus over charges, $689,839; net
profit due the company as per omnibus lease, $2,082,399. (V. 52, p.643.)
Southern Pacific o f N e w M e x ic o .—Owns Arizona State Line to
Rio Grande bridge, 167 miles. Operated under lease by Southern Pacific
Company, the lessee paying all charges and 6 per cent of net profits of
the whole Southern Pacific system. Stock, $6,888,800 (par $100), all
but $2,500 being held by Southern Pacific Company. Sinking fund
March 1,1891, $209,958, invested in Gulf Har. & San Antonio and So.
Pacific of California bonds. From January 1 to March 31, 1891 (3
months), gross earnings were $250,556, against $240,117; net $107,964, against $81,790. Gross earnings in 1890, $1,030,951; net,
$452,363; surplus over charges, $164,837; net profit due company
under lease, $147,599.
Sou th w est P e n n sy lv an ia .—Greensburg, Pa., to Fairchance, Pa.,
44 miles, and branches, 60 miles; total, 105 miles. Opened April 1,1873,
and leased to Pennsylvania Railroad, which operates it at cost, pay­
ing net earnings as rental. Pennsylvania Railroad owns $1,057,250
o f stock and $600,000 of bonds. An increase of stock from $1,000,000
to $3,000,000 was authorized in November, 1889. In 1890 gross earn­
ings were $1,051,340; net earnings, $431,369; surplus over interest
and 10 per cent dividends, $218,104. (Y. 49, p. 654.)
Sou th w estern (G a.)—Owns Macon, Ga., to Eufaula, 144 miles, and
branches to Columbus, &c., 189 miles. Leased in perpetuity August 1,
1869, to the Central Railroad of Georgia, which assumes the liabilities
and guarantees 7 per cent on the stock. In year ending June 30,1890.
gross earnings were $1,269,847; net, $276,932.
Spokane F a lls Sc N orth ern .—Owns from Spokane Falls, Wash­
ington, to Little Dalles on Columbia River, 127 miles. Completed in
August, 1890. Extensions projected. Mortgage covers entire property.
Manhattan Trust Company, New York, trustee of mortgage. Stock
authorized and outstanding, $2,500,000; par, $100. Treasurer, Alfred
C. Chapin, 192 Broadway, New York City.—(V. 48, p. 369; V. 49, p. 301.)
Spuyten D u y v il Sc F o r t M o rris.—Road is 6 miles in length and
connects the New York Central & Hudson with the New York & Harlem.
Leased to New York Central November 1,1871, till December 31,1970.
Rental is 8 per cent on capital stock of $989,000.
State Line & S u lliva n .—Owns from Monroeton, Pa., to Berenice,
Pa., 25 miles, and operates extension to Lopez, 4 miles. Stock, $990 0J0 (par, $50.) The mortgage covers 5,000 acres coal lands. Road
leased till 1934 to the Pennsylvania & New York Canal & Railroad
Company; rental, $40,000 per annum.
Staten Is la n d .—Clifton to Tottenville, 13 miles. Capital stock
originally $210,000, par $15 per share, but being bought by investors
for $65 a share this is now taken as par value, and whole amount as
$910,000. Leased to Staten Island Rapid Transit Co. for 99 years from
July 31,1884, at $80,600 per annum, which pays $4 per share on stock
Interest on bonds and organization expenses.




6 g. J. & J. New York, 56 Wall St. July 1, 1918=
5 g- J. & J. N.Y., Manhattan Tr. Co. Jan. 1, 1920
5
6
6
6
6
6
6
5
4

g- J. & J.
g. A. & O.
J. & J.
Yearly.
g. J. & J.
M. & N.
gg. A. & O.
g. F. & A.
g- J. & J.

5
4

F. & A.
F. & A.

6 g.
6 g6 g6 g.
6 g.
6 g5 g.
5 g.
6 g.
312
5
7

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

&
&
&
&
&
&
&
&
&
&
&
&

J.
O.
0.
O.
0.
O.
O.
J.
J.
D.
S.
A.

London.
On demand.
Coup’n Apr., 1890, paid. Oct. 1, 1920*
Last paid July, 1888. Jan. 1, 1931
Jan. 1, 1931
Jan. 1, 1915
London, Baring Bros. May 1, 1903
N. Y., 20 William St.
Apr. 1, 1910
do
do
Aug. 1, 1936:
N. Y., S. Pac., 23 Br’d St. July 1, 1937
(?)

Feb. 1, 1922
1897

N.Y..S. Pac.. 23 Br’d St.
N .Y ..S .P ac..23B r’dSt.
do
do
do
do
do
do
do
do
do
do
do
do
New York, 23 Broad St.
Savannah and Macon.
Phila., 233 S. Fourth St.
do
do

Meh., 1909-10Apr. 1, 1905Oct. 1, 1905
Oct. 1, 1906
Apr. 1, 1912'
Apr. 1, 1937
Oct. 1, 1938
Jan. 1, 1905
Jan. 1, 1911
June 1, 1891
Mar. 31, 1891
Feb. 1, 191T

Staten Isla n d R a p id T ra n sit R R .—Owns line of road around*
the Staten Island shore, east and north sides, from Vanderbilt Landing(junction with the Staten Island Railway) to a point opposite Elizabeth
port, N. J.; total owned 10 miles; leases Staten Island Railway, 13 milest
total operated 23 miles. It has a 99 years’ lease of the Staten Island
Railway and controls the ferries to New York City. The bridge over the
Kills at Elizabethport was completed in 1890, and since July 1.
1890 the entire freight traffic of the Baltimore & Ohio RR. Co. to and*
from New York has been handled by this company. See V. 51, p. 718..
The Baltimore & Ohio guarantees the 2d mortgage bonds of this com­
pany, and owns a majority of its stock of $500,000 (par $100). The
Income bonds are held by the Baltimore & Ohio and the Staten Island
Rapid Transit companies, one-half each.
From July 1, 1890, to March 31, 1891 (9 months), gross earnings
were $752,421, against $674,184 in 1889-90; net, $241,793, against
$197,200. For nine months ending March 31, 1891, surplus over­
charges was $24,249, against deficit of $19,032 in 1889-90.
Fiscal year now ends June 30. In year ending June 30,1890, gross
earnings were $944,419; net, $295,980; deficit under fixed charges,
$2,904. In year ending September 30,1888, gross earnings were $907,759; net, $305,162; surplus over interest, taxes, rentals, &c., $25,180.
—(V. 49, p. 145, 617, 688, 789; V. 50, p. 207, 622; V. 51, p. 172, 609 £
V. 52, p, 239, 707.)
Suburban R a p id T r a n sit.—Owns bridge across the Harlem
River, New York City, and has road in operation to near 176th Street,-.
N. Y., 2^2 miles. On May 27,1891, the Manhattan Elevated stockhold­
ers met to consider a proposition to absorb this company. See V. 52,
p. 642. Stock issued September 30,1889, $641,865; no bonds at that
date, but loans and bills payable $953,634. In year ending Septem­
ber 30,1890, gross earnings were $212,846 (against $166,387 in 1888
and 1889); net, $45,448; surplus over taxes, $26,169, against $22,096 in 1888-89. (V. 49, p. 857; V. 51, p. 681; Y. 52, p. 238.)
Su m m it B ra n c h (P a .)—This company’s business is almost
entirely in mining coal; it leases the Lykens Valley RR., Millersburg
to Williamstown, Pa., 20 miles, and has a small branch of its own to
Summit Mines, % of a mile. Operated by the Northern Central under
contract. Pennsylvania RR. owns $2,190,100 stock and $480,000 bonds.
From January 1 to April 30,1891 (4 months), gross earnings were
$405,893, against $258,237 in 1890; net, $36,100, against deficit,.
$34,611. Including Lykens Valley net was $32,893, against deficit,
$49,052.
In 1889 gross earnings were $1,191,142; net, $66,450; deficit under
charges, $14,049. In 1890 gross, $1,123,754; net loss, $20,769; deficit
under charges. $101,199. (V. 46, p. 173, 228; V. 50, p. 230.)
S u n b u r y H a z le t o n Sc W iU s e s b a r r e .—Sunbury to Tomhicken,
Pa., 43 miles. Foreclosed March, 1878. Of 1st mortgage $1,000,000
is series A. Stock ($1,000,000) and $182,000 lsts (series B) and $488,600 incomes are owned by the Pennsylvania RR., which pays net earn­
ings as rental. Sinking fund for 1st mortgage now draws about $9,500
bonds yearly at par. Gross earnings m 1890, $547,106; net over
expenses and taxes, $257,199, against $225,392 in 1889; surplus over
fixed charges, $115,099; dividends (6 per cent), $60,000. J. N. Du
Barry, President, Philadelphia. (V. 48, p. 763; V. 50, p. 702; V. 52, p...
761.)
Sunbnry Sc L e w lsto w n .—Selinsgrove Junction to I.ewistownJPa.,
43 miles. Leased for 99 years from July 1,1876, to Pennsylvania Rail­
road for contingent interest in net earnings, which in 1886 wer®
$123,536; in 1887, $156,709; in 1888, $123,619; in 1889,$180,270; in.
1890, $235,449.
Suspension B ridge Sc Erie JTuncton.—East Buffalo Junction
to Niagara Falls and Suspension Bridge, 23 miles; Lockport & Buffalo
Railroad leased, 14 miles; total operated, 37 miles. Road opened Janu­
ary, 1871. It is leased to New York Lake Erie & Western Railroad Com»
pany at 30 per cent of gross receipts, which are guaranteed to be not
less than interest on bonds, $70,000 per annum. Lessees own $203,000
of the stock ($500,000).
Syracuse B in g h a m to n Sc N ew Y o r k .—Owns from Geddes, N.
Y., to Binghamton, N. Y., 81 miles. Chartered as Syracuse & Bingham­
ton, and opened October 18,1854; foreclosed and reorganized April 30,.
1857, and controlled by Delaware Lackawanna & Western. From July
1,1890, to March 31,1891 (9 months), gross earnings were $624,319,.
against $645,829 in 1889-90 ; net $282,201, against $290,808; surplus
over charges, $152,268, against $155,446. In year 1889-90, gross,
$856,594; net, $411,282; charges, $180,267; dividends (8 per cent),
$200,000; balance, $31,015—(V. 49, p. 174, 617, 789; V. 51, p. 345; V.
52, p. 280, 707.)
Syracuse Geneva Sc C orn in g.—Owns from Coming, N. Y., to
Geneva, N. Y., 58 miles, and Penn Yan to Dresden, 6 miles; total, 64
miles. This road was opened December 10,1877, and is leased to the
Fall Brook Coal Company at a rental of 33 per cent of its gross earn­
ings. Stock is $1,325,000 (par $100), of which New York Central &
Hudson River owns $662,600, besides $113,000 7 per cent bonds. In
1889-90 gross earnings were $636,906; net, $104,697; rental to Syra­
cuse Geneva & Coming, $212,302; taxes, $10,153; deficit to lessee,.
$117,757. (V. 49, p. 579.)
Syracuse O ntario Sc N ew Y o r k .—Owns from Syracuse, N. Y., to*
Earlville, N. Y., 45 miles. The road was twice sold in foreclosure and'
reorganised under present name in 1883. The West Shore acquired con-

129
BONDS.
STOCKS AND
K A1LB0AD
Mat . 1891.]



130




IN V'ESTOKS’

SUPPLEMENT.

[VOL. LII.

131
BONDS.
AN D
STOCKS
RAILROAD
1891.]
,
t

Ma




13 »

INVESTORS’

SUPPLEMENT,

[V ol. U I ,

Subscribers w i ll confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In tbese T a b le s.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,^When Due.
Amount
Par
For explanation of column headings, &c., see notes of
of
When Where Payable, and by Slocks—Last
on first page of tables.
Road. Bonds Value. Outstanding R ç ^ P er Payable
Whom.
Dividend.
Spokane Falls < Northern—1st M.,$20,000p.m.,g.c* 127
6
Bpuyten Duyvil rfP’t Mor.-Stock,8 \>.c.gu. N.Y.Cent.
6
Slate Line < Sullivan—1st mortgage.....................c*
t
25
Staten Island—1st mortgage..'....................................
13
StatenIsl. Bap. Tran.—1st M., $ or £, s. f. notdr’n.c* All,
2d mortgage endorsed by B. & O., gold............ c&r
Incomes, gold (non-cumulative)........................
Suburban Rapid Transit—Stock ($6,600,000)_
_
1st mortgage bonds (for $6,600,000)................
Summit Branch (Pa.)—Stock................................
20
1st mortgage, sinking fund, not drawn.............
20
Sunb’ryHaste, a- Wilkesb.—
1st, Ser. A &B.,dr. at lOO.c
43
2d mortgage, income...................................... c&r
43
Sunbury < Lewistown—Stock.....................................
e
43
1st mortgage........................................................... o*
43
Suspension Bridge < Erie Junction—1st M.gu.byErie
t:
23
Syracuse Binghamton < New York—Stock................
6
81
81
Consol. M. (prin. andint. guar, by D.L.&W.).c*&r
57
Syracuse Geneva & Coming—lstM .,s.f.dr’natpar.c
57
2d mortgage............................................................. c
Syracuse Ont. dtNew Yoi'kr— mort.for $1,100,000
1st
45
45
2d mortgage, income...............................................
45
Mortgage for $350,000..........................................
133
Tennessee Midland—1st mort., g., $20,000 p. m ..c'
133
2d mortgage, income non-cum. ($10,000 p. m) .c
Terre Haute < Indianapolis—Stock.......................... c
£
1st mortgage (provided for by consol, mort.) .c&r i"l4
114
Consol, mortgage for $2,200,000..........................
¡Notes issued to St. L. Vandalia & Terre H aute..
" 4Ó
Ind. & L. Mich. 1st mort., guar., $12,000 p, m. .c

$1,000 $2,540,000
100
989.000
1879 100 &c.
300.000
1,000
300.000
1873
1,000
1883
1,000,000
1886. 1,000
2.500.000
1,000
1885
4.500.000
641,865
1,000
1886
'1 0)
50
4,010,350
1874
1,000
1.148.000
1878 100 &c.
1.185.000
1.350.000
1878 100 &c.
50
600.000
500
1876
500.000
1,000
1870
1,000,000
100
2.500.000
1,000
1876
1.966.000
1875 100 &c,
820,800
1,000
1879
600.000
1,000
1883
900.000
1883
500.000

1889

1887
1888
1873
1885
1890
1889

1,000
1,000
50
1,000
1,000
25,000
1,000

*2,604,000
1.064.000
1,988,150
1.600.000
600.000
407,665
480,000

&
&
&
&
&
&

J.
J.
J.
O.
O.
J.

N. Y., Chase Nat. Bank.
N. Y., Gr’d Cent. Depot.
N. Y., Umon Trust Co.
N. Y., foot Whitehall St.
N. Y., foot Whitehall S t
do
do
do
do

July 1, 1939
Jan., 1891
Jan. 1, 1899
Apr. 1, 1893
Jan. 1, 1913
Jan. 1, 1926
Jan. 1, 1946

M. & N.
P. & A.
J. & J.
M. & N.
M. & N.
A. & O.
J. & J.
J. & J.
Q .-F .
A. & O.
M. & N.
M. & S.
J. & D.

Phila., 233 S. Fourth St.
do
do
Philadelphia, Penn. RR.
do
do
Phila., Guar. T. & D. Co.
do
do
N. Y. Lake Erie & West.
N. Y., D. L. & W. RR. Co.
do
do
N. Y., Farm. L. & Tr. Co.
N. Y., Gr’d Cent. Depot.

1936
Feb. 16,1876
Jan. 1, 1904
May 1, 1928
May 1, 1938
Apr. 1, 1891
July 1, 1896
July 1, 1900
May, 1891
O ct 1, 1906
Nov. 15,1905
Mch. 1, 1909
1933
1983

& N.
New York Agency.
& J.
When earned.
& A. N. Y., Farm. L. & Tr. Co.
& O.
do
do
& J.
do
do
(1)
& S. N. Y., Central Trust Co.

Nov. 1 .1937
Jan. 1, ly3 8
Feb. 1, 1891
April, 1893
July 1, 1925
$25,000m’thly
Sept. 1, 1939

2 s6
7
t g.
5 g6 g.

’* '
6
3
7
5& 6
6
4
7
7
2
7
7
5
6
6
4
5 g.
6
3
7
5
5
5 g.

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

trol of the property. It is proposed to issue $350,000 4 percents. Stock
The Texas & Pacific was built under act of Congress of March 31
authorized, $750,000; outstanding, $446,000—par, $100. In year end­ 1871, and other acts in 1872 to 1874, and the laws of Texas.
ing September 30,1890, gross earnings were $117,134, net, $9,639;
In 1888 the company was reorganized pursuant to the plan in V. 43,
«deficit under charges, $44,360, against $46,762 in 1888-89.
p. 164 and V. 45, p. 401, without having the Court confirm the sale in
foreclosure made in November, 1887.
Tennessee M id la n d .—In operation since July 1,1889, from Mem­
At the reorganization a land trust was formed. See in this S u p p l e ­
phis, Tenn., to Perryville, on the Tennessee River, 135 miles (of which
2 are leased), and under construction Perryville to Nashville, 92 miles. m e n t under the title Texas Pacific Land Trust in “ Miscellaneous
Projected to Virginia State line (515 miles in all) on a maximum grade Companies.”
Trustee of first mortgage of 1888 is Fidelity Insurance Trust & Safe
Of one per cent. Local aid to the extent of $600,000 was secured
Deposit Co., of Philadelphia; of second mortgage of 1888 Mercantile
between Memphis and Nashville. See V. 51, p. 830.
Trust Co., of New York. Unless full interest is paid on income bonds after
From July 1 to March 31, in 1891 (9 months), gross earnings were
March 1,1892, one-third the income bondholders may request the trus­
$169,086, against $157,435 in 1890 ; net, $54,564, against $48,181.
In year ending June 30,1890, gross earnings were $204,883; net, tee to take possession of the road and run it, not by a receiver or under
$59,721. Stock authorized, $25,000 per m ile; outstanding, $3,144,000; foreclosure proceedings, but simply in their interest, assuming all obli­
par, $100. Trustee of first mortgage, Central Trust Company, New gations. (See mortgage abstracts, C h r o n i c l e , V. 47, p. 82.) There are
York. President, John Overton, Jr.—(V. 49, p. 227; V. 51, p. 830, 90 8 .) also a Texas school loan of $150,000, for which $167,000 consolidated
5s are reserved and $99,000 old bonds unredeemed.
T erre H a u te & In d ia n a p o lis.—Owns from Indianapolis to Illi­
Stock authorized, $50,000,000; outstanding, $38,710,900, of whioh
nois State line, 79 miles, with coal branches, 41 miles; total, 120 miles. Missouri Pacific on July 1,1890, owned $6,525,000.
¿Oases Terre Haute & Logansport RR., 183 miles; St. Louis Vandalia &
Price of stock since May 9,1888, (new stock)—In 18 8 8,187s®26% ;
Terre Haute, 158 miles; Indiana & Lake Michigan RR., South Bend, in 1889, 171
2®23; in 1890, 12®241 in 1891, to May 22 inclusive,
3;
Ind., to St. Joseph Harbor, Mich., 40 miles; total, 501 miles. Company 1278®16:l4.
leases the St. Louis Vandalia & Terre Haute Road on joint account
From January 1 to May 14, 1891, gross earnings were $2,360,842,
w ith the Pittsburg Cincinnati Chic. & St. L. RR., at 30 per cent of gross against $2,452,797 in 1899.
warnings, but guarantees the 1st and 2d mortgage bonds. In 1890 a
Annual report for 1890 was in the C h r o n i c l e , V.*52, p. 461, and gave
;eneral settlement was made with the St. Louis Vandalia & Terre Haute extended remarks upon the operations of the road.
or amounts due that company, by the payment of $287,157 in cash and
INCOME ACCOUNT.
$657,665 in notes, payable $25,000 monthly, beginning with August 1,
1890.
1888.
1889.
1890. This company owns $500,000 common and $326,000 preferred
Receipts—
$
$
$
«took of the St. Louis Vandal. & T. Haute. The Indiana & Lake Michigan
6,374,386
6,917,802
7,327,711
is leased for 99 years and its bonds guaranteed, principal and interest.
In year ending October 31, 1890, gross earnings, $1,213,619; net
.1,302,717
1,671,744
1,467,006
warnings and other receipts, $419,477, against $330,643 in 1888-89;
. 130,936
178,909
151,156
Interest and 6 per cent dividends, $261,289; loss on Terre Haute &
Logansport and Indiana & Lake Michigan was $18,011; surplus,
1,618,162
.1,433,653
1,850,653
$140,175, against $42,460 in 1888-89. Dividends since 1876 have been:
Deduct—
In 1877, 6 per cent; from 1878 to 1884, inclusive, 8 ; from 1885 to Rentals and sundries.
109,665
94,978
February, 1891, both inclusive, at the rate of 6 per cent per annum. Interest on debt..........
1,279,490
1,279,490
—(V. 50, p. 275.)
Surplus for year..................
461,498
243,694
T erre H a u te & L o ga n sp ort.—Owns from South Bend, Ind., to
Rockville, Ind., 160 miles; leased Rockville to Terre Haute, 22 miles; New equipment and real estate
174,164
390,383
total operated, 183 miles. Formerly Logansport Crawfordsville & South­
287,334 def.146,689
western, which was sold in foreclosure September 10,1879, and reor­ —(W 5oTp?'3*50;' V.''51,' p 681; V. 52, p, 121, 461.)
".
ganized under present name. Leased by Terre Haute & Indianapolis
Thlrd|A ven u e.—See “ Miscellaneous Securities.”
RR. for 99 years from December, 1879, at 25 per cent of gross earnings,
And first mortgage bonds guaranteed by that company. Stock, $500,T i o g a . —State line junction, N. Y., to Hoytville, Pa., 61 miles, and
<>00; par $50. Rental in 1888-89, $142,284; loss to lessee, $26,894; Blossburg, Pa., to Morris’ Run, Pa., 3 miles, of whioh is leased Elmira
rental in 1889-90, $148,538; loss to lessee, $1,766.
State Line Railroad, State line New York to Northern Central Railway
Terre H a u te & P e o ria .—( See Map.)—Road operated from Terre Junction, 7 m iles; and Arnot & Pine Creek Railroad, Arnot Junction to
Hate, Ind., via Decatur, to Peoria, 111., 173 miles, of which 144 miles are Hoytville, Pa., 12 miles. Controlled by New York Lake Erie & Western.
ow ned and 29 miles is by trackage over other roads. Formed in Janu­ In year ending June 30,1890, gross earnings were $297,791; net, $67,ary, 1887, as successor of the Illinois Midland. Stock is $2,160,000 pre­ 923; interest, $50,475; rentals, &o., $20,953; deficit, $3,505. The stock
ferred 6 per cent non-cumulative and $3,240,000 common; par, $100. is $391,200 common and $189,700 preferred; par, $50.
The bonds were issued to nay off receiver’s certificates and to furnish
Toledo A n n A rb or & N orth M ic h ig a n .—(See Map.)—Owns
money for steel rails, equipments, &c. In year ending March 31,1890, from Toledo, O., to Copemish, 276 miles, ana branch to Macon Stone
gross earnings were $323,776; net, $94,096; interest, $90,000; surplus, Quarry, 3 miles; total owned, 279 miles. Leases Frankfort & South­
$4,096. In calendar year 1890, gross $352,098; net, $92,392; surplus eastern Railroad, Copemish to Lake Michigan, 23 miles. Total operated,
«over interest, $2,392. C. W. Fairbanks, President, Indianapolis, Ind, 302 miles. It is proposed to build an extension 140 miles in length
V. 52, p. 121.
from Marion to Mackinaw. See V. 52, p. 641.
Capital stock is $5,300,000; par, $100; car trust debt, $224,T e x a s C entral.—Line of road from Ross, in McLennan County, to
Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 miles. 445. The first mortgage of 1881 covers the Southern Division, formerly
Is controlled in Houston & Texas Central interests, but accounts are called the Toledo Ann Arbor & Grand Trunk Railroad, and the mortgage
kept separate. The authorized stock is $1,000,000; total issued, $200,- of 1884 covers road between Ann Arbor and St. Louis, Mich. Under
265, of which Houston & Texas Central holds $50,000; Morgan Com the consolidated mortgage of 1890 (trustee, Farn ers’ Loan & Trust
pany, $75,000; directors, $5,300. Defaulted in interest in 1885, and de Company), sufficient bonds are reserved to replace di visional securities
•cree o f sale was entered April 12, 1887. The sale, which was delayed when due, and the remainder are to be issued for impr ovements and new
by an appeal, took place April 22,1891. In 1890, gross, $304,527; de­ road, total issue to be at $21,000 per mile of present road and $18,000
ficit under operating expenses and taxes, $38,874, against net of $20, per mile of new lines, with $500,000 for terminals, &o., but limited to
$10,000,000 in all. (See V. 50, p. 423.)
1248 in 1889.—(V. 48, p. 160; V. 52, p. 165,204, 499, 609, 681.)
From January 1 to
months), gross earnings on 286
T ex a s & N ew Orleans (o f 1 8 7 4 ).—Houston, Tex., to Orange miles were $243,237, March 31,1891 (3 in 1890; net, $103,540, against
against $282,084
Sabine River), 104 miles; and Sabine City to Rockland, 104 miles: $106,865 in 1890; surplus over fixed charges, $16,040, against $22,864.
otal, 208 miles. Belongs to the Huntington Southern Pacific system!
Fiscal year ends Deo. 31. Report for 1890 was in V. 52, p. 641.
together with the Louisiana Western. This was a reorganization, 1874,
1887.
1888.
1889.
1890.
o f the old Texas & New Orleans Railroad. The stock, is $5,000,000, and Average mileage..................... .
234
250
. 286
All but $2,500 of it is owned by the Southern Pacific. In addition to
$
$
$
Above bonds there are $431,232 Texas School bonds. Subsidy lands Gross earnings.................... 535,752
687,579
1,014,307 1,127,208
Jan. 1,1891, were 730,220 acres; other lands 114,481 acres.
433,392
Oper’g expenses and taxes.342,606
686.205
728,921
From January 1 to March 31,1891 (3 months), gross earnings were
$360,067, against $465,750 in 1890; net, $125,094, against $191,636.
254,187
328,102
398,287
Net earnings....................
Gross earnings in 1889 were $1,747,805; net, $707,222. In 1890 Interest on debt.................. 193,146
236,800
340,200
294,800
184,800
gross, $1,871,818; net, $879,747; surplus over charges, $562,865.
4,160
Miscellaneous............................. —
T ex a s & ¡Pacific.—f See Map.)—Owns: Eastern Division—From
Texarkana to Fort Worth, via Whitesboro, 244 miles; Texarkana Junc­
17,387
33,302
53,927
Surplus for year............... 8,346
tion to Fort Worth, via Marshall, 248 miles; Marshall to Shreveport,
James M.
New York. (V. 50,
40 miles; total eastern division, 532 miles. Rio Grande Division—Fort 423, 5 5 8 ; V.Ashley, President, 150 Broadway, 165, 428, 6 4 1 , 796.) p.
51, p. 143, 459, 715, 753; V. 52, p.
Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso (joint
Toled o C olu m bu s & C in cin n ati.—Owns from Toledo to Kenton,
track), 92 miles; Gordon Branch to coalmines, 3 miles; total Rio
Grande Division, 619 miles. New Orleans Division—Formerly (New Or- O., 72 miles, and in progress, via Marysville, to Columbus, O. This was
I-Mins Pacific Railroad)—Shreveport to New Orleans, and Baton Rouge the Toledo Columbus & Southern, foreclosed October 16,1888. Stock,
$2,400,000 ; par, $100.
brancn, 346 miles. Total of all, 1,497 miles.

f

t




May , 1891.]




KAILKOAD STOCKS AND BONDS,

133

134

INVESTORS»

SUPPLEMENT.

[V ol. LU.

Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f any error discovered In tbese T a b les.
Bends—Princi­
INTEREST OR DIVIDENDS.
RAILROADS.
j
pal,^When Due.
Miles Date Size, or
Amount Rate «*¡er When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent.’ Payable
Dividend.
Road. Bonds Value.
on first page o f tables.
Whom.
Terre Haute <t Logansp.—IstM ., guar, by T.H.&Ind.
$500,000
93 1879 $1,000
1,000
1st M. on Logans, to South Bend (2d on 93m.)gu.
65 1883
1,000,000
1,000
Terre Haute &Peoria—1st mortgage, gold............. c 144 1887
1,800,000
1,000
Texas Central—1st mortgage, gold ........................ c* 177 1879
2,145,000
52 1881
1,000
N. E. Div. mortgage, gold (2d on 177 miles)___c*
1,254,000
1,000
General mortgage (pledged).................................c* 228 1884
2,286,000
1,000
Texas < New Orleans o f ’74—1st mort. land gr.c*<fcr 104 1875
6
1,620,000
1,000
2,075,000
Sabine Division, 1st mortgage, gold...............c*&r 104 1882
100
1883
Debentures.................................................................
584,000
100 38,710,900
Texas & Pacific—New stock, $50,000,000................ 1,497
1,000
1st M „ gold (Eastern Div.), s. f. red. at 100___c* 524 1875
3,784,000
1,000 21,049,000
1st Consol. mort. for $25,000,000, gold............. c* 1,497 1888
1,000 23,227,000
2d consol. M., income,non-cum. ($25,000,000) ,g.c* 1,497 1888
46 1852 500 &c.
239,500
Tioga, HR.—1st M., due 1882 and extended, gold_
_
1,000
46 1876
125,000
Tiiird-rail m ortgage.................................................
46 1875
1,000
265,000
Extension bonds.................................................... .
7 1875 500 &c.
160,000
Elmira State Line Railroad 1st mortgage, guar..
. 100
6,200,000
Toledo Ann Arbor < North Michigan—Stock............
6
1,000
'63 1881
Tol. A. A. & Gr.Tr. (South Div.) 1st mortg., gold.
1,260,000
1,000
Tol. A. A. & N. M. 1st M. g.,A.A.to St.Louis,Mich. 106 1884
2,120,000
21 1886
1,000
400,000
Tol. A . A. & Mt. Pleasant 1st mortgage, gold..c*
1,000
63 1886
1,260,000
Tol. A- A. & Cadillac 1st mortgage, gold.......... c*
1,000
1,400,000
Consol mortgage for $10,000,0O0, gold............. c* 256 1890
1889
800,000
Toledo Col. < C'inn.—1st mort., gold(for$2,500,000)
£
100
4,849,000
Toledo < Ohio Central—Stock.....................................
6
100
3,705,000
Preferred stock..........................................................
1,000
3,000,000
3.97 1885
1st mortgage, gold, interest guaranteed...............
’85,7,8
409,444
Car trusis, Series 1, 2 and 3 ....................................
650,000
Toledo <t Ohio Central Extens.—Mar. Mineral 1st M .. "45 1885 10Ó' &c.
1,000
850,000
60 1888
Consol, mortgage, gold, for $1,500,000............. c*
1,000
230 1887
4,800,000'
Tol. PeoHa < West.—1st M., new (for $5.000,000) .c*
6
135,000Scrip for coupons in 1888 (payable at w ill)......... 230 1888 Various

g.
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J. N. Y., Farm. L. & Tr. Co.
J.
do
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S. N. Y., Union Trust Co.
N. Last paid Növ., 1884.
N. Last paid Nov., 1884.
N.
None paid.
A. N. Y., S. Pac., 23 Br’dSt.
S.
do
do
do
do
J.

Jan. 1, 1910
Jan. Í, 1913
Mch. 1, 1937
Nov. 1, 1909
May 1, 1911
Nov. 1, 1934
Aug. 1, 1905
Mch. 1, 1912
Dec., 1893

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Phil. ,Newbold’s Son&Co
N.
N. N. Y., N. Y. L. E. & W.
O. Elmira, ChemungCo.Bk.
O.
do
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Mch.
June
Dec.
Nov.
Nov.
Oct.
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N. Y., Farm. L. & Tr. Co. Jan. 1, 1921
N. Y., Central Trust Co. May 1, 1924
N. Y., Office, 150 B’way. Sept. 1, 1916
Mch. 30,1917
do
do
N. Y., Farm. L. & Tr. Co. Jan. 1, 1940
N. Y., Central Trust Co. July 1, 1939
N. Y., Central Trust Co. May 1, 1891
Apr. 15,1891
do
do
Q.—J.
July 1, 1935
J. & J.
do
do
By installm’ts.
Various
M. & N. N. Y., Coffin & Stanton. May 1, 1915
M. & N.
do
do
Nov. 1, 1938
July 1, 1917
New York,
J. & J.
April. N. Y., Farm. L. & Tr. Co. « Apr. 1, 1893
1
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The common stock is $9,231,000. The preferred 4 per cent stock of
$5,305,000is a coupon stock, non-cumulative, and without voting power.
The bonds are for $20,000 per mile, and have a first lien on all rolling
stock and the terminal property at Toledo and East St. Louis. They
are redeemable at 105 and interest upon six months’ notice, but not less
than the whole issue can be called for payment. Abstract of mort­
gage (American Loan & Trust Company of New Yorx and Joseph E.
McDonald, trustees) in V. 45, p. 403. ^ From July 1, 1890, to April 30,
1891 (10 months), gross earnings were $1,340,570, against $1,191,334.
i 1 1889-90. In year ending June 30, 1890, gross earnings were
.!
■ ,460,050; net over expenses and taxes, $470,352. New York office,
4 WaU Street. (V. 50, p. 861, 835; V. 51, p. 241.)
T oled o Sa gin a w Sc M u sk eg o n .—From Muskegon, Mich., to Ash­
ley, Mich., 96 miles, connecting with the Toledo Ann Arbor & North
Michigan. On August 1,1888, the Grand Trunk of Canada purchased
the $1,600,000 stock and above bonds were issued having a traffic guar­
antee from that road and the Chicago & Grand Trunk. In 1890 gross
earnings were $110,552; net, $19,127; interest, $78,000.
T o n a w a n d a V alley Sc C uba.—Owns from Attica, N. Y., to Cuba,
N. Y., 60 miles, of wbioh only 30 miles, Attica to Sandusky, is operated.
Stock is $587,100. Receiver was appointed in 1884, and road sold in
foreclosure January 19,1891. Concerning suit against New York Lake
Erie & Western, see V. 51, p. 569, under heading Bradford Eldred &
Cuba. Gross earnings in 1889-90, $12,915; deficit, $6,096. (V. 48, p.
562; V. 52, p. 165.)
Traverse City.—Owns Walton Junction, Mich., to Traverse City,
Mich., 26 miles. Leased to Grand Rapids & Indiana till January 1,
1933; rental, net earnings, which are guaranteed to be not less than
interest on first mortgage. There are also $190,000 of 5 per cent in­
comes due January 1,1933. Stock, $205,000; par, $100. In 1890 gross
earnings were $45,449; net, $5,232; interest, $7,500; loss $2,268
against surplus of $16 in 1889.
T u cson Globe Sc N orthern A r izo n a .—Projected and under con­
struction from Tucson, Ariz., on Southern Pacific RR., to Globe, 110
miles, with branch to coal fields, 20 m. Mortgage is for $20,000 per m.
U lster Sc D ela w a re .—Owns from Rondout (Hudson River), N. Y.»
to Stamford, N. Y., 74 miles; branch to Hobart, 4 miles; total, 78 milesIn 1890 parties interested in the New York Central and Delaware &
Hudson came into control. An extension from Hobart to Oneonta is
INCOME ACCOUNT.
under the
Delaware &
1886-87.
1887-88.
1888-89.
1889-90. proposed $3,000,000;charter of the $1,664,100; Otsego RR. Stock au­
thorized,
outstanding,
par, $100. Finances
$
$
$
$
consolidated mortgage issued to retire old 7 per
Gross earnings................... 961,407 1,167,576 1,163,817 1,388,749 readjusted in 1888 andconsols unissued is reserved for future extensions.
cents. The balance of
Net earnings....................... 288,804
360,827 *345,022 t576,399
From January 1 to March 31,1891 (3 months), gross earnings were
Deduct—
$60,977, against $58,095 in 1890; net, $16,940, against $16,351.
Interest on bonds............... 150,000
150,000
150,000
150,000
In year ending June 30,1890, the gross earnings were $360,068; net,
Other interest, &c...............
4,986
16,070
437
555 $138,351; surplus over charges, $51,916. (V. 51, p. 172, 241.)
Balanee of rentals.............
12,217
13,979
7,668
9,842
U n ited N ew Jersey R a ilro a d Sc Canal Co.—(See map Penn­
Construction and equipm’t.................
33,213
16,805
75,211
of roads in
Applied to car trusts..........
23,067
147,565
119,592
105,306 sylvania It. R.) Controls an important system Philadelphia,Northern
New Jersey, having a line from New York to
another
D ividends............................ ....................................................
92,625 from Perth Amboy to Camden, opposite Philadelphia, and branches to
Long Branch, Berkeley, etc., N. J., and to Manunka Chunk, Pa. Total
Total.................................. 190,270
360,827
294,502 433,539 mileage 447 miles. The principal lines owned directly are from Jersey
Balance, surplns................
98,534
......... ..
50,520 122,014 City to Trenton, 56 miles, and from Camden to South Amboy, 61 m iles;
9 branches, 29 m iles; total (owned directly) 146 miles. Also owns the
* Including other income, $497.
t Including other income, $9,914. Delaware & Raritan Canal, 66 miles. Among the lines leased are the
Philadelphia & Trenton and the Belvidere Delaware—
which see.
—(V. 49, p. 3 7 2 ; V. 51, p. 303, 4 1 5 , 457; Y. 52, p. 165, 351, 498.)
Leased in May, 1871, to the Pennsylvania Railroad for 999 years, at
T o led o Sc O blo Central E x te n sio n .—f See Map.)—This com­ a rental of 10 per cent on the stock, besides interest on bonds. Penn­
pany secured control of Marietta Columbus & Northern, Marietta to sylvania Railroad owns $1,350,000 stock.
Joy, Ohio, 41 m iles; branch to Stewart, 4 miles. Extension in progress
The general mortgage of April 20,1871, is for $20,000,000 (trustee,
from Joy to a connection with the Toledo & Ohio Central at Newton, 15 Fidelity Insurance Trust & Safe Dep. Co. of Philadelphia), and secures
miles. Total mileage, 60 miles. Consolidated mortgage issued for equally all the bonds in the table, though issued at different dates. The
above extension and for equipment and $650,000 held in escrow to 6 per cent bonds due in 1894 were merely plain bonds until secured by
pav off the Marietta Columbus & Northern 1st mortgage at maturity. tins indenture.
.
Of' these bonds $300,000 (Nos. 1 to 300) have interest guaranteed by
In 1890 gross earnings were $18,938,897; net, including income from
the Toledo & Ohio Central (main line). Stock is $1,500,000; par, $100. investments, $5,134,976, against $5,040,798 in 1889. Net loss: in 1881,
In 1890 gross earnings, $109,312; net, $58,036. In 1889 gross, $95,- $302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536;
90 5 ; net, $47,697.
in 1885, $159,496; in 1886, $179,016; in 1887, $227,991; in 1888,
T oled o P eoria Sc W e ste rn .—Owns from Indiana State line $160,501. Net profit in 1889, $138,712; in 1890, $396,885. Sinking
to Warsaw, 111., 220 milps; branch, La Harpe to Iowa, 111., 10 miles; funds December 31,1890, held securities of par value of $4,002,000.
trackage to Pebria and to Burlington, la., 17 miles; total operated,
U n io n Pacific R a ilw a y .—( See Map.)—L ines of R oad .—Main
247 miles. This was formerly the Toledo Peoria & Warsaw, then the line (former Union Pacific R.R.) Council Bluffs to Ogden and branches,
Toledo Peoria & Western, and was leased to Wabash; sold in foreclos­ 1 038 miles; former Kansas Pacific Railway, Kansas City to Denver,
ure October 29, 1886. Stock, $4,500,000; par of shares, $100. 643 miles, and Leavenworth to Lawrence, 34 m iles; former Denver
Abstract of mortgage (Charles Moran, Thomas Denny and Cornelius B. Pacific Railway, Denver to Cheyenne, 106 m iles; total owned, 1,822
Gold, trustees) V. 45, p. 242. The company funded part of coupons in miles.
,
1888 in 4 per cent scrip certificates due April 1,1893, but redeemable
The “ Union Pacific System” on January 1,1891, was made up of
at option of the company.
the following lines :—
From July 1,1890, to March 31,1891 (9 months), gross earnings were
Miles.
Miles.
$705,289, against $714,425 in 1889-90, net, $186,913, against $171,009. Union Pacific..........................1,822 *Kansas City & Otaaha.......... 193
In year ending June 30, 1890, gross earnings were $938,830; net, Denv. Leadville & Gun’s’n ... 324 *Un’n Pac. Denver & Gulf... 945
$192,799; surplus over interest, $429. In 1888-89 deficit under Kansas Central...................... 165 *Ft. Worth & Denver City___ 469
interesV&c., $16,884.—(V. 49, p. 5 0 3 ; V. 51, p. 303, 4 5 6 . )
Omaha & Republican Yal— 482 *U. P. Lincoln & Colorado... 225
T oled o St. L o u is Sc K a n sa s City.—PYom Toledo to East *Oregon S. L. & Utah Nor......1,421 Six small roads....................... 269
St. Louis, 451 miles. In June, 1890, the work of standard gauging *Ore. R. & N. Co.’ s, rail lines. 1,029
252
Total “ Un. Pac. Sys.” .. .7,598
the road was completed. This company was formed June 1 2 ,1886( *St. Joseph & Grand Isl’d—
*These properties, having securities of their own held by the public,
by consolidation, and it took all the main line of the Toledo Cincinnati
are separately described in this S u p p l e m e n t .
A St. Louis narrow-gauge road, foreclosed December 30,1885.

From July 1, 1890 to March 31,1891 (9 months), gross earnings on
72 miles were $238,490, against $213,135 on 46 miles in 1889-90; net,
$89,239, against $103,725. In year ending June 30,1890, gross earn­
ings were $294,320; net, $137,997; rentals, etc., paid, $8,018. Steven­
son Burke, President. (V. 49, p. 374»)
T oled o & Ohio C entral.—(.See Map)—Owns from Toledo, O to
.N
Corning, 184 miles, including 12 miles leased; Thurston to Columbus,
29 miles, including 5 miles leased; total owned, 197 miles. Leases also,
Corning to Jacksonville, 10 m iles; Glouster to Carrington, 11 m iles;
total leased, 38 m iles; total operated, 235 miles.
This company was formed after sale in foreclosure of the Ohio Central
main line on Anril 15, 1885. In October, 1890, a large interest in the
Kanawha & Michigan (which see) was acquired, and in February, 1891,
it was agreed to guarantee its bonds, principal and interest. See Y. 51,
p. 457; V. 52, p. 165,351. The preferred stock outstanding is $3,705,000;
common, $4,070,600; par both, $100. Common stock was increased in
February, 1891, from $1,849,000 to $4,849,000, but $778,400 of this is
in the company’ s treasury. The preferred is entitled to 5 per cent noncumulative, then common to 5 per cent, then preferred to 2 per cent,
then common to 2 per cent, after which both share equally.
Dividends on common: 1 in 1891, May 1 ,1 per cent.
Dividends on preferred in 1890, April 1, l ^ per cen t; June 30 ,1 per
cent;, October 1 , 1'J* per cent; in 1891, January 15, l ^ ; April 15, l ^ .
Price of common stock: In 1886, 26@ 381 ; in 1887, 2 0® 35; in 1888,
2
23® 35; in 1889, 30®40; in 1890, 42%®68is; in 1891, to May 22
inclusive, 45®61.
Price of preferred stock: Iu 1886, 461 6312 ; in 1887, 40® 581 ; in
4@
2
1888, 35®56; in 1889, 50®73i2; in 1890, 6 8 ^ 9 5 ; in 1891, to May
22 inclusive, 80®88.
The first mortgage is for $5,000,000, but no more than $3,000.000 can
be issued except by consent of three-fourths of thepresent bondholders.
The bonds have their interest guaranteed by the Columbus & Hocking
Valley Railroad Company and the stock of Columbus & Hocking Valley
Company was offered in 'exchange for Toledo & O . * *Central stock on
T
terms noted in V. 40, p. 597.
From July 1,1890, to March 31,1891 (9 months), gross earnings were
$1,154,459, against $1,013,929 in 1889-90; net, $389,547, against
$424,094.
.
Fiscal year ends June 30; report 1889-90 in Chuonicle, Y. 51, p. 415.




185

JfehéhaTisfl

N YakimiX
.

!

.vnee r È T f e a HELEN*

MAP OF THE

‘UNION PACIFIC
R A ILW A Y

1891.J

KAILROAD

STOCKS

A im

BONDS.

AN D ITS CONNECTIONS.




\

136

INVESTORS’

SUPPLEMENT.

[\ou

L iï.

Subscribers w ill confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In tbese T a b les.
[Bonds—PrinciINTEREST OR DIVIDENDS.
RAILROADS.
'pal,When Due.
Miles Date Size, or
Par
of
For explanation of column headings, &c., see notes of
Outstanding! ate Per When Where Payable, and byj Stocks—Last
Whom.
Dividend.
Road. Bonds Value. outstanding j Cen£ p ayabie
on first page of tables.
Toledo St. L. d Kansas O —1st M., g. (red. at 105)c* 451
k
96
Toledo Saginaw < Muskegon—1st mortgage, gold ..
&
60
Tonawanaa Valley < Cuba—1st mortgage................
&
26
Traverse City RB.—1st mortgage...............................
10
Tucson Globe & N. A r —1st M., g. s. f. (red. at 110)c*
Ulster ie Delaware—Consol. M. tor $2,000,000, g..c*
78
United N. J. RR. < Canal Co.—Stock, 10 p. c. guar..
6
G e n e r a l ster. loan, s. f. $36,920 yr. not dr.,g.c
do do do $36,000 yr. not dr.,g.c
Mortgage
of 1871 cur. loan, s. f. $40,000 yr. not dr’n .r
.c
(now 1st loans of 1901, gold................
mort.) se­ loan of 1908, gold............................. r H fÿ
a.
cures all loan of 1923, gold..............................r co «
.c&r «
equally.. / loan of 1929, gold..................
Union Pacific—Stock
1st mortgage, Omaha to near Ogden, 1,035 miles 1.035
2d mortgage, currency (Government subsidy)___ 1.035
3d M. on road (2d on land) g.,$<fc£,s.f.not dr’n.c&r 1.035
4
Omaha bridge bonds (s. f. drawn at 110) .......c*<fer
4
Renewal (sinking fund, not drawn) .............c
Collateral trust bonds, gold, s. f. drawn at 105.c*
Collateral trust bonds of 1883, gold, s. f. not dr’n
Denver L’dv. & Gun. collat. trust ($3.250,000).. c* 325
JEquip. bonds Series A, ijo due yearly in Oct— c*
Do
Series B, ljo due yearly in April—
Do
Series C, tio due yearly in October.
«Kansas Fac. Eastern Div. IstM ., $16,000 per mile 140
Middle Div. 1st mortgage, $16,000 per mile, g. 253
2d mortgage (to U. S. Gov.) on 394 m. W.Mo.R. 394
Denver Ex. 1st M., 1. gr. 2,102,000 acres..c*«fcr 236
427
Income bonds....................................................... c
675
Cons. M. fo r$30,000,000,1. gr. gold, not dr’n. .0

1886 $1,000
1,000
1888
1,000
1881
1,000
1883
1887 500 &c.
1,000
1888
100
£200
1869
200
1871
1,000
1871
73-’76 1,000
1,000
1878
1,000
1883
1,000
1889
100
1866-9 1,000
1,000
1866-9
1,000
1874
£200
1871
1,000
1885
1,000
1879
1,000
1883
1,000
1889
1,000
1887
1,000
1888
1,000
1890
1,000
1865
1,000
1866
1865-7
1,000
1869
50 &c.
1866
1,000
1879

$9,000,000
1.560.000
500.000
250.000
165.000
1,342,600
21,240,400
1.846.000
1.800.000
2,000,000
5.669.000
841.000
1.824.000
6.020.000
60,868,500
27.229.000
27,236,512
6.300.000
887.000
589.000
3.983.000
5.072.000
2.065.000
502.000
1.474.000
389.000
2.240.000
4.063.000
6.303.000
5.887.000
41,500
12.570.000

Î*

6
3
7 g.
5 g212
6 g6 g.
6
6 g! gi4 '

s*

8
l g*
g gi g'
5 g.
4l2g
5
5
5
6 g.

I e'
6 g.

J. «fe D. N. Y., Bk. of No. Amer.
J. «fe J. N. Y., Office, 271 B’ way.
M. «fe S. Last paid March, 1884.
J. < J. N. Y., Winslow, L. < Co.
fc
&
J. «fe J.1Bos.,Am.L.«feTr.Co; Lon
J. «fe D.l N. Y., Central Trust Co.
Q.—J. Phila. and N.Y., Offices.!
fc
M. < S. Lond’n, J. S. Morgan < Co
fc
do
do
M. «fe S.
A. < O. Philadelphia, Penn. RR.
fe
do
do
M. «fe S.
do
do
M. «fe S.
do
do
F. «fe A.
do
do
M. «fe S.
fe
Q .- J . N. Y., TJn. Trust < Bost.
do
do
J. «fe J.
J. «fe J. U.S. Treas., at maturity.
M. «fe S. N. Y., Un. Trust < Bost.
fe
fe
A. «& O. London < N. Y., Un. Tr.
A. «& O. N. Y., Union Trust Co.
do
do
J. «fe J.
J. «fe D. Boston, N. Eng. Tr. Co.
M. < N. N. Y., Un. Trust < Bost.
fc
fe
A. «fe O.
do
do
A. «& O.
do
do
do
do
A. < O.
&
F. < A.
fc
J. < D. N. Y., Union Trust Co,
&

June 1, 1916
July 1, 1918
Sept. 1, 1932
Jan. 1, 1933
July 1, 1917
June 1, 1928
Apr. 10,1891
Mch. 1, 1894
Moh. 1, 1894
Oct. 1, 1894
Mch. 1, 1901
Sept. 1, 1908
Feb. 1, 1923
Sept. 1, 1929
Apr. 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1893
Apr. 1, 1896
Oct. 1, 1915
July 1, 190®
Deo. 1, 1907
Nor. 1, 1918
lio yearly Oct.
f io yearly Apr.
f io yearly Oct.
Aug. 1, 1895
June 1, 1896
1895 to 1897
M. «fe N. N.Y.,Lond’n < FrankPt. May 1; 1899
fe
M. «fe S. N. Y., Bk. of Commerce. July 1, 1916
M. «fe N. N. Y., Un. Trust < Bost. May 1, 1919
fe

Also controls the Central Branch Union Pacific and leased lines i388 tracts was estimated at $1,310,000. On January 1,1891, the Union
miles) which are operated by the Missouri Partflc under an agreement Pacific lands unsold were 3,047,000 acres, estimated at $2,369,000; the
ydth Union Pacific for twenty-five years from 1885. The Union Pacific Kansas Pacific lands unsold, 3,161,000 acres, estimated at $10,084,000,
:«dso owns jointly with other companies the Leavenworth Topeka < this last including 2,102,000 acres, valued at $5,340,000, covered by the
fe
•Southwestern, 47 miles; Manhattan Alma & Burlingame, 56 miles; Denver Extension mortgage.
The Kansas Pacific lands, from the 380th mile westward, are covered
^Montana Union, 72 miles; grand total of all lines, including one-half
first by the Denver Extension mortgage (covering 394th to 639th mile),
Hines operated jointly, 8,073 miles.
and an the lands of the Kansas Pacific by the consoUdated mortgage.
Organization , «fee.—This company, the Union Pacific Railway, was
form ed by a consolidation, January 24,1880, of the Union Pacific Rail­
Operations , F inances , «fee.—The com pan y has extended rapidly and
ro a d and the Kansas Pacific and Denver Pacific, made under authority built and acquired m uch new m ileage.
«of the acts of Congress of July 1,1862, and July 2,1864. The Union
On December 31,1890, the gross floating debt (including bUls paya­
-Pacific Railroad was chartered by Act of Congress of July 1,1862, ble, coupons due January 1, etc.,) was $21,418,094 (against $20,161,613
■which gave the company a land grant of 12,800 acres per mile, esti­ on December 31,1889) from which deduct cash $433,801; company’ s
m ated at a total of 12,083,227 acres, and a subsidy in United States stock and bonds, $355,447; bills and accounts receivable, including ad­
Sbonds of $27,236,512 on 1,033 miles of road.
vances to branch lines on current account, $13,753,903; balance net
In 1886 a lease of the Oregon Railway < Navigation RR. to the Ore­ floating debt, $6,874,941, against $4,489,563 December 31,1889.
fc
g o n Short Line, guaranteed by Union Pacific, was negotiated (see V. 48,
On Union Pacific proper (7,668 miles) from Jan. 1 to March 31,1891.
3 261), and in 1889 the .Oregon Short Line purchased a majority of the (3 months), gross earnings were $8,884,869, against $8,516,743 in 1890
p.
«Oregon Railway < Navigation stock.
fc
(on 7,561 miles); net, $2,695,902, against $2,057,577.
In November, 1890, there was a change in the management of the
On entire system (8,144miles) from January 1 to March 31 (3 months(,
Union Pacific, Mr. Sidney Dillon replacing Mr. Adams in the Presi­ gross earnings were $9,167,386 in 1891, against $8,957,109 on 8,042
d en cy and Messrs. Jay Gould, Russell Sage, H. B. Hyde and A. E. Orr miles in i890; net, $2,702,832, against $2,156,348.
(becoming directors. See V. 51, p. 748.
The report for 1890 was in the Chronicle, V. 52, p. 678; see also ar­
Ar to the debt of the Pacific railroads to the United States Govern­ ticle on p. 659.
ment, a decision of the United States Supreme Court settled the point
The following shows the earnings of each division and of the “ Union
*hat the payment of interest on the loans was not obligatory on the Pacific System“ ’ and also the grand total for all lines operated:
-companies till the principal of the bonds became due. Afterwards
--Earnings,1890.
-Earnings,1889.■Congress passed the Thurman Act, May 7,1878, which, for the Union
Gross.
Net. .
Net.
Gross.
Pacific, provided that 25 per cent of the net earnings, after deducting
$
$
$
$
interest on the first mortgage bonds and construction and equipment Oregon S. L. < U. N........ 6,512,345 2,811,481 7,488,031 2,522,301
&
-expenditures should be paid annually to the Government as follow s: Oregon Ry. «feNav. Co___ 4,576,136 1,692,339 4,954,711 1,018,68«
First—Applied directly to interest account, one-half of Government Union Pac. Denver < Gulf 4,595,095 1,162,148 5,783,136 1,776,053
■earnings and 5 per cent of net earnings, after deducting interest on St. Joseph < Grand fc
355,454
460,203 1,253,592
fe
Isl’d. 1,267,658
first mortgage bonds. Second—To be placed in the sinking fund—the All other lines.................22,718,367 9,026,678 23,569,778 8,032,793
ether half of the Government earnings and so much of $850,000 as
m ay be necessary to make all the payments by the company equal 25
*Total Un. Pac. Sys.” .39,669,600
■per cent of its net earnings. On January 1,1891, tne sinking fund, in­ Cent. Br.“and leased fines. 854,960 15,152,849 43,049,248 13,705,287
250,417 974,472
198,843
vested in RR. and U. S. bonds, (par value) was $9,368,400, and the pre­
*2 Roads jointly owned.. 416,503 def. 82,768
514,482 def. 1,855
mium paid on bonds and cash uninvested was $1,737,092; total, $11,105,492. The debt to the United States at that date was thus stated:
t Grand total of all.......40,941,063 15,320,498 44,538,202 13,902,27*
(Principal, $27,236,512; interest accrued and not paid, $817,095; inter­
est paid by United States, $36,397,185; repaid by Union Pacific, $12,* Average mileage 7,562 in 1890, against 7,389 in 1899. i Average
■999,510; balance of interest paid by United States, $23,397,675.
Stock and B onds.—The capital stock issued and outstanding is $60,- mileage 8,038 in 1890, against 7,867 m 1889.
On the “ Union Pacific System” proper, operations were as follow s:
«868,500, having been increased about $10,000,000 since the consolida­
OPERATIONS AND FISCAL RESULTS
tion in 1880.
B M __■
Dividends since 1879—In 1880, 6 per cent; in 1881, 6 %; m 1882, 7;
1889.
1890.
-In 1 8 8 3,7 ; in 1884, 38}; none since.
i . ____
7,389
7,562
Price of stock—In 1880, 80®113%; in 1881,1051 131% ; m l8 8 2 , Average miles operated..............................
e®
Operations—
-9 8 :l4® 119%; in 1883,7018® 104%; in 1884,28®84%; in 1885,41®62%; Passengers carried one mile................... 355,822,732
399,664,486
4n 1886, 44 j4® 681 ; in 1887,44® 63% ; in 1888,48®66i2; in 1889, 56*$ Rate per passenger per mile........ . .............
4
2-414 cts.
2-336cts.
<®71%; in 1890, 40@687r ; in 1891, to May 22 inclusive, 4158® 52 *2.
Tons carried 1 m’e, not incl. Co.’s fre’ht. 1,950,241,673
2,115,988,741
: There are $18,000 Leavenworth branch 7 per cent bonds due January, Rate p. ton p. mile, not incl. Co.’ s fre’ht.
1-405 cts.
1-381cts.
1896, and $4,000 Denver Pacific bonds.
The Union Pacific collateral trust 6s are limited to 80 per cent of the
39,669,600
43,049,248
follow ing bonds: Omaha < Republican Valley RR., $935,000; Colorado Gross earnings (as above).......................
fe
Operating expenses and ta x e s ...............
26,013,551
. 30,811,164
-Central RR. bonds, $1,895,000; Utah Northern RR., $2,149,000; total,
*4,979,000. The collateral trust 5s of 1883 are secured by the following Net earnings.......................................... .
13,656,049
12,238,084
bond s: Colorado Central RR., $1,268,000; Utah < Northern RR., $2,- Per cent of oper. expenses to earnings..
fe
65-58
.
71-57
027,000; Omaha < Republican Valley Railroad, $622,000; Omaha <
fe
&
The company’s income account, including results on all lines oper­
Republican Valley Railway, $1,961,000; Utah Southern RR. extension,
ated, was as below :
*85,000; total, $5,963,000.
The Union Pacific guarantees either as to principal and interest, or as
INCOME ACCOUNT.
■to interest only, certain securities of the following companies, full in­
1889.
1890.
formation concerning which will be found under their respective heads :
Oregon Short Line < Utah Northern; Oregon Railway < Navigation N r t S f e i s . . . . . . ..................... 1............
fc
fe
13,656,049
12,238,084
(through guaranty of lease); St. Joseph < Grand Island; Union Pacific Central Branch Un. Pac. net earnings..
fe
163,554
115,989
Denver < Gulf, and Union Pacific Lincoln < Colorado.
fc
&
Investments outside of system...............
482,180
606,539
The outstanding bonds of Kansas Pacific above are given less the Interest on K. P. consol, bonds repaid..
...............
381,300
«mounts of each class held by the trustees of the consolidated mortgage. Miscellaneous.......: ...........-......... - ...........
145,855
93,946
The consolidated mortgage trustees are Jay Gould and Russell Sage,
«n d they held in trust on January 1, 1891, the following bonds of the
Total receipts.....................................
14,447,638
13,435,856
Kansas Pacific, making $6,786,850 in all, viz.: Leavenworth Branch,
Disbursements—
______
___ _ tAk
*582,000; income (unsubordinated) bonds, $241,200; income (subordi­ Interest on bonds.....................................
9,333,949
9,604,496
nated) bonds, $3,992,650; Cheyenne Branch, Denver Pacific, bonds, $1,- Sinking fun ds............................................
907,982
1,064,489
971,000. They also held $1,980,500 of the stocks and $3,160,000 of Dividends on Oregon Ry. < Nav. stock..
fe
1,095,114
651,820
bonds of companies controlled by the Union Pacific.
Discount and interest...............................
292,950
731,184
I n April, 1891, it was voted to authorize the directors to issue a col­ Discount on bonds sold, «fee.....................
169,321
65,714
lateral trust mortgage to pay the floating debt or for any other purpose. Loss on roads operated jointly...............
96,042
15,007
This trust mortgage, it is said, will be for $25,000,000, but not more Miscellaneous..................
82,506
flhan $10,000,000 will be issued at present. It is intended to make it a Profit and loss............. ............... -.............
339,003
147,045
lien upon the Kansas Pacific main line, upon the bonds held by the
Kansas Pacific trustees, upon $7,137,000 Union Pacific Denver < Gulf
fe
Total disbursements..........................
12,316,867
12,657,172
-consolidated 5 per cent bonds held in the treasury, etc., eto. See V. 52, Surplus.......................................................
2,130,771
778,686
p. 681.
.
United States requirements.......... .........
1,155,007
1,053,723
L and Grant .—The proceeds of land sales on the Union Pacific mam
line are applicable to the sinking fund mortgage 8 per cent bonds. On Balance............. .......................... - ............ Sur. 975,764
Def. 275,037
the Kansas Pacific the cash income from land belongs to to the consoli­
dated and the Denver Extension mortgage. On January 1,1891, the —(Y. 50, p. 107, 140,173,174, 276, 392, 423, 606, 6 2 0 , 622, 6 2 3 , 80«.
company had in cash and in land contracts from the Union Pacific Y. 51, p. 142,143, 348, 459, 538, 681, 748, 786, 830; V. 52, p. 4 1 ,8 *
grant the sum of $6,162,095, and the interest to accrue on land con­ 121, 126, 428, 535, 659, 6 7 8 , 681.)




137

Y

RAILROAD STOCKS AND

RONDS.,

W

Ouray

*

/
M A P OK TH E

UN IO N

PACIFIC, DENVER
AND

GULF R A I L W A Y

CO.

AN D ITS CONNECTIONS.




138

INVESTORS’

SUPPLEMENT,

[V ol, LU.

Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f any error discovered in these T a b les.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Union Pacific Denver d Gulf—Stock for $36,000,000
k
Colorado Central 1st mort., $15,000 per m........ c
Denver Marshall & Boulder 1st mortgage.............
Denv. Tex. & Ft. Worth 1st M. ($20,000 p.m.)g.c*
Denver Texas & Gulf 1st M. ($20,000 p. m .). .c&r
ConsoL mortgage, gold, subjeot to call at 1 0 5 ..c*
Ft. Worth «SsDenv. City 1st M., g., $18,000p. m.c*
U.Pac.Lin.dkCol—1st M., g., gu. ($20,000p. m.).c*
Utica Qhen.dkSusq. Val.—Stoct,6 p.c.gu. by D.L.&W.
Utica Clinton d Bingh'ton—1st M., guar. D. & H .. .c
k
Talley (N. T.)—Stock, 5 p. c. guar, by D. L. & W ...
1st mortgage (for $500,000)....................................
Talley (Ohio)—1st mortgage, Cleve. to Canton.. .c*
; Consol, mort. g. (for $4,000,000) s.f.,notdr’n.c*&r
Talley (Tirginid)—1st mortgage............................. c
Termont d Mass.—Stock, 6 p. c. guar, by Fitchburg
k
Bonds, not mortgage (guar, by Fitchburg RR.) .c*
Termont Talley o f 1871—Stock..................................
1st M., with $50O,OOO Su. Co. RR. stock as col..c*
Ticks. Shrevep. d Pacific—Prior lien mort., gold, .c*
k
1st mortgage, gold................................................ c*
3dM. and 1st M. on land, g., for $2,500,000..c*
Inc. bds., non-cum. (there are also $127,000 old 6s)
Ta. MicU’d—St’ck($4,524,233 owned by R.&W.P.T.)
Mort., 1st ser., 1st M Alex.to Gordonsv.&br.,97m.
i.
2d series, 1st mort., Chariot, to Lynch., 6Ô m .).
3d series, 2d lien oh 60 miles; 3d on 97 m iles...
4th series, 4 per cent till March 1,1901.............
5th séries, 1st on 115 miles..................................

328
30
165
138
824
450
225
97
31
12
12
59
91
62
59
50
24
189
189
189
97
157
157
157
272

$100 $31,151,700
1,000
1879
4,701,000
1,000
1886
226,000
1,000
1887
1,449,000
1887 l , 000&c
1,256,000
1890
1,000 14,852,000
1,000
1881
7,958,000
1,000
4,479,000
1888
100
4,000,000
1,000
1889
800,000
750,000
1881
400,000
1879 10Ó &c.
1,600,000
1,000
1881
1,499,000
1881
1,000
750,000
100
3,193,000
1883
1,000
1,000,000
50
1,000,000
1,000
1880
800,000
1885
1,000
1,323,000
1,000
1881
4,000,000
1886
1,000
2,147,303
1887
494,860
100
6,000,000
1881 100 &c.
600,000
1881 100 &c.
1,900,000
1881 100 &c.
1,100,000
1881 100 &c.
950,000
1881 100 &c.
1,775,000

U n io n Pacific D enver & G u lf.—( See Map.)—This company’s
road extends from Wendover, Wy., to Cheyenne, Wy., 125 miles; Denver
to Pueblo, Col., 124 miles; Tridiaad, Col., to Texas State Line, Tex., 127
miles; La Salle, Col., to Julesburg, 151 miles; branches (77 miles of
which narrow gauge), 309 miles; total, 836 miles; trackage, Denver &
Bio Grande, Pueblo to Trinidad, 92 miles, and branches, 16 miles; con­
trols Fort Worth & Denver City RR., Texline, Texas, to Fort Worth, 455
miles, and Pan-handle Railroad, 15 miles, making a grand total in sys­
tem of 1,414 miles. This is a consolidation of the Denver Texas & Fort
Worth and several Union Pacific lines. See Y. 49, p. 720.
The amount of consolidated mortgage 5s stated in the table to be out­
standing is that reported by the N. Y. Stock Exchange to have been
issued prior to May 22,1891. The Union Pacific report for 1890 gave
total outstanding January 1,1891, as $13,845,000, of which the Union
Pacific Company held $7,180,000, and the company itself $1,035,000.
In addition to these consols there were also outstanding on the same
date $8,188,000 of old divisional bonds (exchangeable at certain rate
for consols), of which $4,697,000 Colorado Central 7s, and $248,000 of
other issues were owned by the Union Pacific Company, a considerable
portion'of them having been pledged under its trust deeds.
The company’ s annual interest charge on account of its $22,033,000
bonds outstanding January 1,1891, and on account of the Fort Worth
& Denver City 6s, amounted to about $1,674.000, but of this $51,750
was on bonds held by the company itself, about $701,000 on bonds held
by the Union Pacific and $181,300 was for interest on bonds whose
first coupon matures November 1,1891, these last being certain Denver
Texas & Fòrt Worth 5s and the consols exchanged for the same.
The consolidated mortgage of ¿890 provides for bonds at $25,000 per
mile o t single and $35,000 per mile of double-track of completed rail­
way (and for further amounts on the pledging with the trustee of cer­
tain securities), sufficient bonds being reserved to retire the divisional
bonds at or before maturity. There is no sinking fund for the consols,
but the Whole issue as an entirety is subject to call for payment at 105
on any interest day after six weeks’ notice. These bonds are indorsed
with the Union Pacific’s guaranty of interest. See abstract of mort­
gage in V. 51, p. 244.
. Capital stock authorized is $36,000,000, of which $31,313,847 had
been issued on January 1,1891, $13,250,847 of this being owned by the
Union Pacific Company and $3,406,800 by the company itself. In ad­
dition thè stock of constituent companies outstanding on January 1,
1891, amounted to $2,523,245. In tne table above is given the amount
o f stock as reported outstanding by the N. Y. Stock Exchange on May
22,1891. The company holds in its treasury $7,766,000 of the capital
stock of $9,275,000 of the Fort Worth & Denver City Railway Co.
, From Jan. 1 to March 31,1891 (3 mos.), gross earnings were $1,149,425
against $i;i96,819 in 1890; net, $172,355, against $325,653.
Report for 1890 was in Y. 52, p. 679, as follows :
EARNINGS, EXPENSES AND CHARGES.

Average miles operated....................
.
Gross earnings............... .
Net earnings. .
..........
DeductsInterest oh bonds— .................
Reptal of track................................
Discount and interest and miscellaneous.

1889.
1,383
$
Ì ,595,096
986,530

1890.
1,396
$
5,783,136
1,606,077

1,112,673

1,247,568
148,353
104,641

109,072

1,500,562
1,221,745
’ def.235,2Ì5
sur.105,515
—(vTsOj.p.'lSS, 197,484, 590; V. 51, p. 143,193, 244; V. 52, p. 6 7 ».)
' IJn l o it P a d tie L in coln & C olorad o.—Owns from Salma to
junction with the Kansas Pac. By. at Oakley, Kan., 225 miles. The bonds
areigu&r&nteed by Union Pac., by endorsement; trustee of mortgage is
the American Loan & Trust Co., of Boston; sinking fund of % o f 1 per
cent yearly, but bonds Cannot be drawn. Union Pacific owns all the
*stock except what is held by certain counties in Kansas. In 1890 gross
eam lngs, $194,019; net over taxes, <& $48,326 (against $57,679 in
c.,
1889) ¡ traffic guaranty, $ 119,093 ; total net income, $167,420; inter­
est, $228,968, and sinking fund, $30,053; balance, deficit, $86,601
against $68,842 in 1889. (V. 47, p. 490,803.)
r I
Utica C henango & Susquehanna V alley.—Owns from Utica,
N. Y., to Greene, N. Y., 75 m iles; branch to Richfield Springs, 22 miles:
total, 97 miles; Road opened October, 1872. Leased to Delaware
Lackawanna <sWestern at 6 per eent on stock. Has no bonded debt.
S
I U tica C linton & B in g h a m to n .—Owns from Utica, N. Y., to
RiandaUville, N. Y., 31 miles. Leased during continuance of charter
and renewals thereof to Delaware <s Hudson Canal Company, which
S
pays .rental of $61,500 per annum. Operated by the New York Ontario
& Western! The street lines owned by the company are leased to Utica
B M i L i n e Street Railroad Company for $15,000 per annum. Gross
.earnings of this road, and Rome & Clinton 13 miles (reported together
M New York Ontario & Western), in 1889-90, were $236,689; net
by
$62,647; loss to lessee, $12,353. Capital stock, $849,285 (par $100)!
o f which city o f Utica holds $200,000, with interest guaranteed 5 per
cent.
I
jf
V a lle y '(N . X .) R a ilr o a d .—Owns from Binghamton, N. Y., to
¡State Line of Pennsylvania, 12 miles. Opened October, 1871. Leased to
Delaware Lackawanna & Western at 8 per cent per annum on stock.
<$750,000; par, $100), which was reduced in 1882 to 5 per cent, the
lessee assuming the interest on bonds
Total




7
5
5 g5 g.
5 g.
6 g.
5 g.
3
5
2^2
5
7
6 g.
6
3
5
3
5
6 g.
6 g.
4-5 g.
4

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

« s J.
S
« s D.
S
« s N.
S
« s O.
S
« s D.
S
& D.
« s O.
S
« s N.
S
& J.
« s J.
S
& A.
« s D.
S
& S.
< o.
fc
« s o.
S
« s N.
S
« s J.
S
« s o.
S
« s N.
S
« s J.
S
« s J.
S

6
6
6
4-5
5

M.
M.
M.
M.
M.

«s
S
«s
S
«s
S
«s
S
«s
S

N. Y., Un. Trust <s Bost.
S
do
do
do
do
do
do
do
do
do
do
do
do
N. Y., Del. L. <s W. RR.
S
N. Y., Security <sTr. Co.
S
N. Y., Del. Lack. <sWest.
S
do
do
N. Y., Mercantile Tr. Co.
do
do
N. Y., Merc. Tr. «SsBalt.
Bost., 53 Devonshire St.
Boston, Fitchburg RR.
Bellows Falls.
Boston, S. Dep. <sTr.Co.
S
N. Y., Central Trust Co.
N. Y., Farm. L. <sTr. Co.
S
N. Y., Central Trust Co.

S. N. Y., R. <sD., 80 B’ way.
S
do
do
8.
do
do
8.
do
do
S.
do
do

s.

July 1, 1909
June 1, 1916
Nov. Ì , 1937
Apr. 1, 1937
Dec. 1, 1939
Dec. 1, 1921
Apr. IÜ 1918
Nov. 1, 1890
July 1, 1939
Jan., 1891
Aug. 1, 1911
June 15,1906
Sept. 1, 1921
Oct. 1, 1921
Apr. 8, 1891
May 1, 1903
Jan. 1, 1891
Oct. 1, 1910
Nov. 1, 1915
Jan. 1, 1920
Jan. 1, 1916
Mch.
Mch.
Mch.
Mch.
Mch.

1,
1,
1,
1,
1,

1906
1911
1916
1921
1926

V alley (O h io ).—Owns from Cleveland, O., to Valley Junction, 0.,75
miles, and 16 miles of small branches. Of the consolidated mortgage
$1,600,000 is held in trust to retire the first mortgage when due. This
mortgage is a first lien on the Cleveland terminal property. A sinking
fund sufficient to retire whole issue at maturity begins September 1,
1891 ; no drawings. Capital, $1,261,973 ; par, $50. Control acquired
in 1889 by the Baltimore & Ohio Railroad Company. Earnings in 1890,
$779,267; net, $262,436, against $192,329 in 1889. V. 50, p.70.)
V alley (V irg in ia ).—Owns from Harrisonburg to Lexington, Va., 62
miles. By this and connecting lines under Baltimore <s Ohio control,
S
thé distance from Lexington is 243 miles to Baltimore and 217 miles to
Wasnington. The' Baltimore & Ohio owns $1,020,000 stock and the
City of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839
(par, $100). In years 1889-90 gross earnings were $126,299 ; net, $27,100; deficit under interest, $18,100, against $10,187 in 1888-89.
V erm on t & M assach u setts.—Line of road, Fitchburg to Green­
field, Mass., 56 miles ; branch, 3 miles. The road is leased to the Fitch­
burg RR. for 999 years at 6 per cent on stock. The lessee to September
30,1889, had invested $1,491,435 in improvements for this road.
V e rm o n t V a lley o f 1 8 7 1 .—Owns from Bellows Falls to Brattleboro, Vt., 24 miles ; and by ownership of stock the Sullivan County RR
from Bellows Falls to Windsor, Vt., 26 miles ; total, 50 miles. Controlled
in the interest of the Connecticut River RR. The N. Y. N. H. & Hart,
owns $249,700 stock. The Sullivan County RR. stock of $500,000 is
deposited as additional security for the above mortgage bonds. Divi­
dends since 1880 have been : In 1881, 4*2 per cent; in 1882, 4 ; from
1883 to January, 1891, both inclusive, at the rate of 6 per cent yearly.
In 1890 gross earnings, $192,629 ; net, $75,133, agst $80,191 in 1889.
V ick sb u rg Shreveport & P acific.—(See Map Cincinnati New
Orleans d Texas Pacific.)—From Delta, La., on Mississippi River, to
k
Shreveport, 170 miles, and extension to Texas State Line, 18 miles
(the latter leased to Texas <s Pacific); total, 188 miles. The old Vicks­
S
burg Shreveport & Pacific Road was sold in foreclosure December 1,
1879, and reorganized under present title. The stock is $1,601,500 (par
$100), of which the Alabama New Orleans & Texas Pacific Junction
Railroad Company holds a majority, and also $3,692,000 of the 1st
mortgage and $965,500 3d mortgage bonds. Till 1891 the 3d mortgage
bonds carried 3 per cent, then 4 per cent till 1894, and thereafter 5 per
cent. Net proceeds of land sales go to payment of interest on these
bonds if necessary, otherwise to sinking fund ; no bonds drawn (see V.
43, p. 104). Lands unsold June 30,1890, w ere268,869 acres. Trustees
ot prior lien mortgage and of 3d mortgage, Cent, Trust Co. of 1st mort.,
Farmers’ Loan & Trust Co. Car trusts Aug. 30,1890. $125,997 ; cou­
pons due and unpaid, 1st mortgage, $553,800 ; 3d mortgage, $114,213.
From July 1,1890, to Mch. 31,1891 (9 months), gross earnings were
$516,591, against $532,697 in 1889-90; net, $152,000, against $150,000.
The annual report for 1888-89 was in V. 49, p. 299. In year ending
June 30, 1889, gross receipts were $592,603 ; net, $131,135 ;! deficit
under interest, $267,003 ; in 1889-90 gross, $639,753 ; net, $122,994 ;
deficit under interest, $270,974. (V. 49, p. 2 9 9 ; V. 51, p. 303.)
V irg in ia M id la n d .—f See Map o f Richmond d West Point Terminal.)
k
—L ine of R oad .—From Alexandria to Gordonsville, 88 toiles ; Warrenton Branch, 9 miles ; Charlottesville to Lynchburg, 60 miles ; Lynch­
burg to Danville, 66 miles ; Pittsville Branch, 9 miles ; Manassas Junotion to Harrisonburg, 114 miles (of which 51 miles leased to Baltimore
& Ohio); small branches, 9 miles ; total owned, 348 miles. Leases: Char­
lottesville & Rapidan Railroad, Orange Court House to Charlottesville,
28 miles ; Franklin & Pittsylvania Railroad (3 feet), Pittsville to Rocky
Mountain, 30 miles ; total leased, 58 miles. Total owned and leased,
406 miles, of which 51 miles» Strasburg Junction to Harrisonburg, is
leased to the Baltimore & Ohio (in perpetuity at B.& O.’ s option for
$89,250 yearly), and 9 miles to Chesa, & O., leaving 346 miles operated;
The Washington City Virginia Midland & Great Southern was sold
December 20,1880, and reorganized as Virginia Midland.
Ip April, 1886, a lease of this road was made to the Richmond <sDan­
S
ville on the basis of a payment of the fixed charges and the payment by
the lessee of any balance of net earnings to the Virginia Midland Com­
pany. The lessee may if it chooses advance the money for interest on
the six series Of prior bonds, if earnings are insufficient, but guarantees
positively the general mortgage interest. The Richmond & West Point
Terminal Company owns $4,524,233 stock, most of which is deposited
as security for its collateral trust deeds.
The fourth series bonds carried 3 per cent interest till March 1,1891,
and will bear 4 per cent till March 1,1901 ; thereafter 5.
Of the $12,500,000 general mortgage bonds of 1886. $7,635,000 were
held to retire the serial bonds, also enough for the incomes. See ab­
stract of mortgage, V. 47, p. 23. Part of the general mortgage bonds
bear the endorsed guarantee in gold as to principal and interest of the
Richmond & Danville. The unstamped bonds are currency bonds, but
may be stamped payable in gold on a payment of 2^ per cent.
Shorn July 1 toD ee. 31,1890 (6 ms.), gross earnings were $1,260,117,
against $1,192,528 in 1889 ; net, $480,437, against $460,364.
Earnings for the years ending September 30 (except 1889-90, when
year ended June 30) were :
Sur. over
Miles. Gross receipts. Netreceipts. Charges.
$
$
1,635,667
41,392
1886- 8 7 .................. ...
355
583,929
1887- 88......................
355
1,800,426
700,602
32,172
1889-90..........................
355
21,951
2,274,383
719,219

May , .1891.]

RAILKOAD

STOCKS

AND

BONDS.

139

Subscribers w ill confer a great fa v or b y g iv in g im m ed ia te notice o f any error discovered in these T a b les
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due
RAILROADS.
Amount Rate per When Where Payable, and by Slocks—Last
For explanation of column Leadings, &c., see notes
Outstanding Cent. Payable
Dividend.
Whom.
on first page of tables.
& S. N. Y. ,R. &D., 80 B’dway. Mch. 1, 1931
5
$1,310,000
Virginia Midland—( Concluded)—6th series.. . . . - - & N. N. Y., Central Trust Co. May 1, 1936
5
2.456.000
Gen. mort., int. guar, by R. & D., $12,500,000.c
May 1, 1936
do
do
& N.
2.419.000
5 g.
General mort., prin. and int. guar, (endorsed)gold
& J. Phila. Tr. & Safe Depos. July 1, 1913
6
430,400
Charlotev.&Rapid, (l’sed) IstM., s. f.,dr’n at 100.C*
(?)
5.000.
000 (?)
Virginia < Truckee—Stock........ ................----- --&
J. & J. N. Y., Bk.of Commerce July 1, 1895
6.000.
000 7
Wabash RR.—St. L. K. C. & No. 1st mort. (North Mo.)
Sept. 1, 1895
M. & S.
do
do
7
3,000,000
St. L. K. C. & No. 2d mort., real estate andrailway
Oct. 1, 1908
do
do
1,000,000
6 g- A. & O.
St. Charles Bridge 1st mortgage..................... c~
Oct. 1, 1903
A. & O.
do
do
7
388.500
July 1, 1908
2d mortgage........................ - - - - - - - ....... - ...........
J. & J.
do
do
6
626,000
fit. Louis Council Bluffs & Omaha 1st m ortgage..
May 1, 1903
M. & N.
do
do
7
100,000
Boone Co. & Booneville 1st mortgage, int. guar..
6 to 8 F. & A. Boston,Bank Redemp’n Aug. 1, 1903
304.500
Brunswick & Chillicotlie 1st mortgage, int. guar.
M. & N. N. Y., Central Trust Co.May 1, 1939
5 g.
22,581,000
Wabash 1st M., g., s. f., not dr. ($34,000,000)... .c
Feb. 1, 1939
F. & A.
do
do
14.000.
000
2d mortgage, gold....................... - - - - ■•- -* •- - - - -c
30.000.
000 I * J. & J. N. Y., Company’s Office. July 1, 1939
Deb.mort.,inc.,non-cum.,ser. A & B, red. at par
J. & J. N.Y.,Of.,5VanderbiltAv Aug. 1, 1917
7
250.000
Aug. 1, 1917
Walkill Valley—1st m ortgage..................................
J. & J.
do
do
7
330.000
1891
750.000
3^2 J. & J. Boston, Bost. & Alb.RR. Jan. 3,1891
Ware Bivcr—Stock,7 p.c.rentalguar. 999yrs.B.&Al.
April,
1.800.000
3ia A. & O. N. Y., Del. L. & W. RR. Oct. 15, 1900
Warren (N. J.)—Stock,1 p. c. perp., guar. D. L.& W
7
A. & O.
do
do
7
750.000
Mch. 1, 1905
2d mortgage, now 1st..........................................
M. & S.
do
do
7
600.000
1st consol, mortgage..................... - ........1
■ »
540.000
6 g. J. & D. Baltimore, B. & O. RR. June 1, 1913
Wash. City d:Pt. Lookout—1st M.bonds, g., Alex.br. s.f
2,134,850 3*a scrip M. & S. Phila., Of., 233 S. 4th St. Mar. 16,1891
West Jersey—Stock, $122,250 is 6 p. c. ‘ ‘special” ..
Jan., 1896
J. & J.
do
do
6
1,000,000
1st M., cum.sink. fd.$12,500 yearly, not drawn.ff
Oct., 1899
A. & O.
do
do
7
1,000,000
Nov. 1, 1909
1st consolidated mortgage.................................... e
M. & N.
do
do
6
750.000
1912 & 1925
\
Consolidatedmortgage...........
do
do
4 & 5 F. & A.
200.000
Dec., 1898
■
Ocean City RR. and Salem RR. bonds............... c
J. & D.
do
do
. 7
200,000
May 1, 1912
Swedesboro Railroad bonds..................................
M. & N.
do
do
6
90.000
Woodstown & Swedesboro 1st mortgage........... c
M. & S. Phila., Of., 233 S. 4th St. Sept. 15,1890
2
904,850
West Jersey < Atlantic—Stock.......- - - - - — r VAX’ ' 'i
&
M. & S. Phila., Fidelity I. T. Co. Sept. 1, 1910
6
190,000
1st M. Newfieldto Atlan. C., 33 m., dr’n at lOO.c&r
J. & J. Phila., Penn. RR. Office, July 1, 1910
6
80.000
Pleasantville & Ocean City 1st mortgage.......c&r
W a b a s h R a ilr o a d .—(See Map.)—Owns and operates an extended ¿ f 4*“
................ ........................ ....................... $396,491
system of roads, which may easily be seen on the accompanying map, as Track,' bridge rentals, traffic association expenses, &c..........
442,590
follows, viz.:
New York & Pacific Car Trust interest, one month................
12,392
OWNED EAST OF MISSISSIPPI RIVER. OWNED WEST OF MISSISSIPPI RIVER. Interest on bonds and rentals of leased lines.......................... 2,652,820
Miles. Dividends on preferred debenture mortgage b on d s........ —
210,000
Miles.
St. Louis to near Kansas City. 275
Toledo, O., to East Hannibal,
11
Total........................... ............................................................$3,714,293
Camp Pt. and Elvaston, 111. 536 St. L. Levee to Ferguson, Mo.
131
$237,792
Decatur, 111., to E. St. Louis.. 110 Moberly to Ottumwa, Mo—
Salisbury to Glasgow, Mo—
15 Net surplus.
Juno, near Chicago to Effing­
p. 71,139, 392 ; V.
p.
ham and Altamont, 111........ 216 LEASED WEST OF MISSISSIPPI RIVER. —(V 50, 680, 748, 830, 877; 50, 52, 792 ; V. 51, p. 303, 348, 38 1 , 385 *
V.
p. 82, 499.)
Streator to Fairbury...............
31 Brunswick to Pattonsb’g,Mo. 80 94, 571,
Centraliato Colum bia,M o...
21
W a l l k i l l V a lle y .—Owns from Montgomery to Kingston, N. Y., 33
Edwardsville to Edwardsmiles. Stock, $330,000 (par $100). In year ending June 30, 1890,
ville Crossing, 111................
8
Tot. own’ d&leas’ dW. of Miss. 533 t o s s earnings were $145,241 ; net, $24,424 ; interest, $17,500 ; taxes,
Delrey.near Detroit, to Butler 110
5,292 ; surplus, $1,632. Ashbel Green, President.
LEASED EAST OF MISSISSIPPI RIVER.
Tot. cov’r’d b y lst& deb. M .1,639
Eel River RR., Butler to LoW a r e R i v e r . —Palmer, Mass., to Winchendon, Mass., 49 miles. It
TRACKAGE, ETC.
gansport, Ind...................... 94
leased for 999 years to the Boston AAlbany Railroad a t a rental o f
123
Laketon June, to Chicago—
per cent per mmim. J. A. Rumrill, President, Springfield, Mass.
Total covered by 2d mort. 1,106 8 short pieces into Quincy, 83
W a r r e n « N . J . —Line of road, New Hampton Junction to Delaware
Detroit, &c...........................
70 Bridge, N. A 18% miles. The road is leased in perpetuity to Delaware
Operat’d for Purchasing Com
6 Lackawanna & Western at 7 per cent on stock and bonds,
Maysv.to Pittsfield (leased)..
The following is a statement of
w » « liln o -to n C itv Sc P o i n t M iook ou t.—Hyattsvillo, McL, to
lines owned and leased west of the
Grand total operated..........1,921 Shepherd, Mc 13 miles. Leased in perpetuity to the Baltimore & Ohio
lL,
Mississippi and of trackage, &e.
for $36,000 gold per annum, being interest on debt (assumed by Balti
H istory , Organization , &c.—The WabashSt. Louis & Pacific, which more & Ohio) and $3,600 for sinking fund ; no drawings. The stock
was a consolidation in 1879 of the Wabash Railway mid the St. Louis authorized is-$2,540,000 ; paid in, $1,000,000.
Kansas City & Northern, was sold in foreclosure m 1889, this company
W e s t J e r s e y .—Main line and branches—Camden to Cape May,
being organized on July 12,1889. For outline of reorganization plan Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 182 miles ; West Jersey
see I nvestors’ Supplement up to J anuary, 1889.
t v n & Atlantic Railroad, 40 unies ; total, 222 miles operated.
The Boone Co. & Booneville RR. is leased till M a y , 1 9 7 3 .^ e Bruns
ainTrinp- fund of $12,500 yearly for bonds of 1896 is inv os ted m company’sbonds and bonds of the Pennsylvania system, and $709,100 were
S0lM ^ d e X s atayc Î lslS ^ -In 1881,4; from 1.882 to 1884 mclusive, 3 and
o serin: from 1885 to 1887, inclusive, 6; in 1888, 6 ^ ; u. 1889, 7 , in
1890,Starch 15, 3*2 ; September 15, 3 4 ; in 1891, March 16, 3 ^ m scrip.
The scrip issued as dividend in March, 1891, does not bear interest,
but is redeemable in cash and is convertible into stock at par.
From January 1 to March 31, 1891 (3 months), gross earmngs were
$276,963, against$266,187 in 1890; net, $26,946 agamst $42 352
Thé annual report for 1890 was published in the Chronicle , V. 52,
STOCKS AND BONDS.—The capital stock is $52,000,000, of which
. 533. Income account has been as follows, the earnings including
$24,000,000 is preferred, having a preference of 7 per cent per annum
those of leased lines :
non-cumulative, and $28,000,000 is com m on: nar both, $100. Ab­
INCOME ACCOUNT.
stracts of the mortgages were’ published in the Chronicle, V. 49, pp.
1890.
1889.
1887.
1888.
270-273. The first mortgage covers lines both east and west of the
$
$
$
$
Mississippi, and enough bonds are retained *o_ retire>the pnorbens on
1,526,169 1,633,745
1,556,033
roads w est; but the second mortgage- covers only lines east of the nver. Gross earnings..............1,469,215
522,917
455,072
Total net income........ 513,815
529,250
Of the debenture mortgage bonds
respect to interest payments only) and $26,500,000 series B. The series
Deduct—
m
248,933
251,23;
A” bonds received^ per cent interest m January, 1890, and 3 m July, in Interest, rentals, & c... 312,149
289,407
Dirtdends . . .’. .
(6 )8 9 ,¿2 (612)138,082 (7)148,217 (7)148,217
^ Price^of new common stock—In 1890, Si8'a))-5‘ in 1891, to May
,
Balance, surplus ....... 112,524
101,761
57,922
123,463
2 priceUofV ne8w®pr1
eferred-In 1890, 15® 31^; in 1891, to May 22 --(V. 46, p. 191, 509; Y. 48, p . 52 6; Y. 50, p. 3 5 0 ; V. 52, p. 533.)
>
inclusive, 167s®2378.
Tersev & A tla n tic .—Owns Newfleld,N. J., to Atlantic City
Operations, E arnings, & c —The annual interest charge on the first N. J., 33 miles; PleasantviUe & Ocean City RR., 7 miles; total, 40 miles.
and second mortgages will be about $2,615,000, and the debentures Opened June 17,1880, and operated by West Jersey RR. on a joint
call for $1,800,000 per year when earned (but not cumulative), making traffic agreement and 25 per cent of gross receipts on West Jersey from
the charges ahead of preferred stock about $4,415,000.
.
traffic o f this road to be applied to any deficit m
From July 1,1890, to March 31,1891 (9 months), gross earningi were sinking fund for bonds purchasable at 105, or drawn at 100, if over 105.
$ 9,947,19l f against $10,437,783 in 1889-90; net earnings, $2,719,340, In 1888 net earnings were $82,787; m 1889, $43,573. In 1890 net
earnings were $43,043; interest, etc., $18,914; dividends, $40,342.—
^ ^ c a l y la r lffis June 30. Report for 1889-90 at length in Chronicle —(V. 50, p. 313.)
V. 51, p. 381, 385.
W e st Shore.—(See Map New York Central a Hudscm Biver.)—!,me
of road from Weehawken, N. J., opposite New York City, to Buffalo,
OPERATIONS AND FISCAL RESULTS.
N. Y., with branches to Albany City and Rochester City, about 448 miles
1889-90.
1888-89.
in all. This company was organized in December, 1885, as successor to
1 .Q O
U
Average mileage............. ......................
. 01'M 4n , ,
149,183,000 the New York West Shore & Buffalo, sold in foreclosure.
Passengers carried one mile...................
152,404,045
Leased in 1885 for 475 years to the New
Central &
2-130 cts nanv and all earnings, &c., included in York company sHudson ComRate per passenger per m ile.. . ...............
2 0 5 0 cts.
that
report. The
1,430,197,332
Freight (tons) carried one mile............ 1,094,717,o09
is owned
Central
0-647 cts §10j000,000 of stock company’ s by the New Yorkprincipal Companym
Rate per ton per mile.............................
0-756 ets.
consideration of that
guarantee of the
and mterest
of the $50,000,000 of new bonds. The mortgage is made to the Union
$13,352,872
Gross earnings........................ - ..............
$12,590,482
Trust Company as trustee, and covers the hne of road, Weebawken to
Expenses—
__
Q. „
448 miles in all, and also the terminals at Wee­
$1,729,231 Ruffalo with branches,of all the stockandbondsoftoeTernunal.com .
Maintenance of w ay...............................
^2,0 0 /,yu»
2,651,758 hawken by ownership of the New York Central & Hudson is absolute as
2,607,790
Motive power.
panv The guarantee
1,175,18"
989,584
Maintenance of cars.............
4,117,04' to interest and principal and is endorsed on each bond. See abstract of
4,208,914
Transportation and general.
mortgage in V. 42, p. 176.
.
W e s t V irg in ia Central Sc P ittsb u rg .—A coal and railroad
$9,673,221
$9,814,236
Total.
in
$3,679,651 company in West Virginia in the upper Potomac region—the Elk Garden
Net earnings.........................................
$2,776,246
Field. Owns road
operation from junction near
72-44 Coal Virginia, to Elkins, Randolph County, West Virginia, Piedmont,
Per cent oper. expenses to earnings../ / yo
West
84= milesit
yvra-nbhps to Mineville. Elk Garden, Ac., 17 miles. Leases Piedmont < .
fe
INCOME ACCOUNT, 1889-90.
K b e r i a n d Railroad, Piedmont to Cumberland, 30 miles; total oper­
Net earnings........
................................................................. $3,272’ 434 a t ic 131 miles. Owns 32,244 acres of coal and lumber lands covered
Received from rent of tracks, &c...............................................
nv the first mortgage and has mineral rights on 5,407 acres more. In
January^ l^ lfS o c k h o ld e r s voted to authorize the issue of $500,000
Total........... .............. ....... ........................*............................ $3,952,085

leased for 99 years (See that company)
J H J H I nr ac_
Stockholders voted on November 25, 1890, to construct or ac
uuire a road from Montpelier, Ind., to a junction with the Chicago
& Western Indiana at Hammond, near Chicago, and to issue $3,50<h000
bonds thereon. In March, 1891, it was decided to defer carrying out
this plan until the earnings of the company justify the expenditure




140
IN Y E S T O K S ’
SU PPLE M E N T .




S '

Ma y , 1891.]

RAILROAD

STOCKS

AND

BONDS.

141

Subscribers w i l l confer a great fa v o r by g iv in g im m ed ia te notice o f any error discovered in tbese T a b les.
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount
Stocks—Last
When
Par
of
For explanation of column headings, &c., see notes of
Outstanding Rate per Payable Where Payable, and by
Dividend.
Whom.
Cent.
Road. Bonds Value.
on first page o f tables.

West Shore—1st mortgage, guar. byN.Y.C.&Hud.c&r
West Virginia Central & Pittsburg—Stock................
1st mortgage, gold ($25,000 per mile)................ c*
West Virginia < Pitts.—IstM ., s. f. not drawn, g . . .cx
6
West’n (Ala.)—
‘Con. M.,g.,gu.by C.Ga. andGa.RR.c*
Western Maryland—1st & 2dpref. M’s (1st M. end’d)
:3d mortgage,-endorsed by City of Baltimore........
4?.1. mort., m return for G
-rth
1
A
J OCity ofnBaltimore stock..
rr D H n
irviA o
■il
P
*City loan........ ........................................................
Balt. & Harrisb. RR.; prior morts. see remarks.
1st M. west. Ext., gu.by indors. ($16,000 p. m) .c*
Balt. & Cun&b. Val., 1st mortgages (see remarks)
Western N. T. < Pennsylvaniar—
£
Stock ($30,000,000)
Warren & Franklin 1st mortgage...........
2d mortgage (1st on equipment, etc.), gold... . .c
2d mortgage, deb., ine., non-cum., red. at option,
income serip, convert., redeemable at option..
Non-eon vert, income scrip.....................................
West. No. Car.—1st con. M., now IstM ., gold,guar.c
2d consolidated mortgage ($15,000 per mile). . . .
Western Pennsylvania—1st mort., Blairs, to Butler.
1st mortgage, Pittsb. Br., Freeport to Allegheny
ConsoL M. for $5,000,000, g., guar, by Pa. RR..C
Wheeling < Lake Erie—Common stock
&
Preferred stock, 6 per cent, not cumulative........
1st mortgage, gold................................. *............ c

448
103
138
90
90
90
90
32
15
34
670
50
630
630

287
287
60
28
98
187

4
J. & J. N. Y., Gr’d Cent. Depot. Jan. 1, 2361
1885 l , 000&c $50,000,000
Baltimore, Co.’s Office. Mch. 20,1891
1
5,500,000
100
2,500,000
6 g. J. & J. N.Y., J. H. Davis,&Balt. July 1, 1911
1,000
1881
3,000,000
1890
1,000
5 g. A. & O. N. Y., Farm. L. & Tr. Co. Apr. 1, 1990
1,543,000
4 1 A. & O. N. Y. Seeurity & Tr. Co. Oct. 1, 1918
2g.
1,000
1888
1890 & 1895
6
222,000
J. & J.
’ 58-’68 500 &c.
J. & J. Balt., N. Mechanics’ Bk. Jan., 1900
6
875,000
1870 500 &c.
Jan. 1, 1902
do
do
1,000,000
6
J. & J.
1872
Jan. 1, 1927
1,704,000
do
do
314 J. & J.
1887
July 1, 1925
4
J. & J.
684,000
do
do
207,000 5 & 6 Various Baltimore, Co.’s Office. 1892,’95 & ’99
’ 72-’79
Nov. 1, 1936
do
do
483,000
1,000
5 g- M. & N.
1886
May 1, 1938
do
do
240.000
1,000
5 g. M. & N.
1888
July,1929&’31
J. & J.
6
do
do
351,300
’ 79-’81
Too 19,928,000
F. & A. N. Y., Office, 35 Wall St. Feb. 1, 1896
800,000
7
1865 500 &c.
8.950,000
1,000
1887
5 g- J. & J. N. Y., Bk. o f New York. Jan. 1, 1937
1,000 19,498,333 3g.or5sc. A. & O. Paid 2*2 serip Apr., ’ 91. Oct. 1, 1927
1887
After 20 years
A. & O.
None paid.
732,000
5
Var.
After 20 years
A. & O.
None paid.
5
Var.
2,509,413
1907
390,367
3,637,000
1884
1,000
6 g- J. & J. N. Y., 80 Broadway. , July 1, 1914
A. & O.
Oct., 1914
6
4,110,000
1884
1,000
A. & O. Philadelphia, Penn. RR. Apr. 1, 1893
6
790,000
1863 500 &C.
Jan. 1, 1896
do
do
J. & J.
435,000
6
1865 100 &c.
do
do
June 1, 1926
3.000.
000 4 g- J. & D.
1,000
1888
5.000.
000
100
4,500,000
100
1H Q.—F. N. Y., Office, 40 Wall St. May 15,1891
3,000,000
1,000
1886
5 g. A. & O. N. Y., Central Trust Co. Oct. 1, 1926

«took held in the treasury and $1,100,000 bonds for the extension of
the road. Y. 52, p. 204. Extensions also projected to Pittsburg on the
north and the Chesapeake & Ohio Railway on the south. An important
traffic agreement was made with the Baltimore & Ohio in May, 1891.

per cent may be paid, but after 3 per cent has been paid on second
mortgage bonds, the stock and seconds share alike. The scrip issued
for interest bears 5 per cent interest, non-cumulative, payable only if
earned, is secured by the coupons placed in trust therefor, and is due
20 years from date, but redeemable at option. It is convertible into in­
come debentures, also non-cumulative, and payable at option. Trustee
of first mortgage. Mercantile Trust Company, of New Y ork; o f second
mortgage, Fidelity Trust & Safe Deposit Company, of Philadelphia.
(See mortgage abstracts, Chronicle , V. 47, p. 109.)
Second mortgage coupons due in 1888,1889,1890 and April, 1891,
were paid in scrip. Due on new equipment April 1,1891, $1,217,399;
bond and mortgage real estate, $353,904.
In addition to the stock outstanding there is $10,269,556 in the com­
pany’ s treasury, $10,000,000 of which can be disposed of only by unanmous consent of stockholders present at a meeting duly advertised.
From July 1, 1890, to March 31, 1891 (9 months), gross earnings
were $2,695,721, against $2,732,133 in 1889-90; net, $849,151, against
$703,487; surplus over charges, $400,995, against $214,233. In year
ending June 30,1890, surplus over chargeswas $301,258 against $126,876 in 1888-89.—(V. 49, p. 236,826; V. 50, p. 1 0 5 , 353, 834 ,8 7 5 ; V.
51, p. 240, 348, 571, 788 ; V. 52, p. 80, 322.)
W e ste rn N orth C arolin a.—("See Map o f Richmond < West Poin
&
Terminal)—Owns from Salisbury, N. C., to Paint Rock, Tennessee State
line, 185 miles; Asheville to Tomotia, 117 miles; total, 302 miles.
Under construction Tomotia to Murphy. In May, 1886, leased to the
Richmond & Danville for $134,980—interest on bonds. Stock, $4,000,000 common and $4,000,000 preferred. The 2d consolidated mort­
gage for $4,110,000 and $1,325,000 of the 1st consols are deposited to
secure the 1887 collateral trust of Richmond & West Point Terminal,
while $3,160,000 common and $3,160,000 preferred stock are de­
posited under its collateral trust of 1889; $850,000 of 1st consols are
reserved to retire the 7 per cents.
From July 1 to December 31,1890 (6 months), gross earnings were
$510,012, against $427,350 in 1889; net, $175,297, against $99,143.
In 1889-90 gross earnings, $889,938; net, $233,952; surplus over
charges, $7,177, the charges here not including $278,250 interest on
bonds held by Richmond & West Point Terminal, nor $99,691 interest
on open accounts. In 1888-89 gross, $801,074; net, $109,485.
June 30,1890, there was due other companies, $1,775,826.
W e ste rn P e n n sy lv a n ia .—Owns from Bolivar to Alleghany City,
Pa., 77 miles; branches to Butler and Winfield Furnace, 29 miles;
total, 106 miles. Leased to the Pennsylvania RR. for 50 years in 1883 i
rental, net earnings. The lessee, owns $1,753,350 of the $1,775,000
stock (par, $50), and guarantees the consolidated mortgage bonds o f
1888; $1,225,000 bonds are reserved for prior bonds. Gross earnings
in 1889, $1,577,541; net. $627,191; gross in 1890, $1,883,192; net,
$844,116; surplus over interest and 6 per cent dividends, $544,116.
Dividends have been—In 1885, 6 per cen t; in 1886, 9 ; in 1887, 3 ; in.
1888, 6 ; in 1889, 6 ; in 1890, 6 ; in 1891, April, 3.
W h e e lin g & L ake E rie.—Owns Toledo, O., to Bowerston, O.,
174 miles, and branch to Huron, O., 12 miles; Wheeling D ivision,.
Bowerston to Martin’s Ferry, opposite Wheeling, 42 m iles; Steubenville
branch, 14 m iles; Toledo Belt, 5 miles, and coal branches, 8 miles.
Total, 255 miles. Will enter Wheeling by new Union Bridge to be com­
pleted in July, 1891.
Sold in foreclosure April 23, 1886, and reorganized in July, 1886,
with stock of $3,600,000 ($100 shares), which in March, 1888, was
made preferred 6 per cent non-oumulative. In December, 1889,
$3,500,000 common stock was issued to provide means for new con­
struction, and this was afterwards authorized to be raised to $6,000,000.
On April 15,1891, stockholders voted to increase the preferred stock
from $3,600,000 to $4,500,000.
Dividends on preferred stock—From April, 1888, to February, 1891,
both inclusive, at the rate of 4 per cent per annum; in May, 1891,
(at rate of 5 per cent per annum).
The improvement and extension mortgage of 1889 for $1,900,000 (of
which $500,000 is reserved to retire the Toledo Belt bonds) covers,
subject to prior liens, all the property of the company, and is a first lien
upon the extension to BeUaire and upon the Steubenville branch.
From July 1 to March 31,1891 (8 months), gross earnings on 237 miles
were $889,398, against $746,221 on 187 miles in 1889-90; net, $341,01 63, against $298,472.
Annual report for 1889-90 was in C hronicle , V. 51, page 568.
1887-88.
1888-89. 1889-90
$
$
$
Gross earnings......................................
818,352
870,495 1,047,419
Net earnings.........................................
241,835
302,158 398,088
Interest paid.........................................
145,322
150,066
187,500
Dividends paid on preferred stock... (2) 70,268(4) 144,866 (4) 144,000

^DivMejKls—In 1889,1 per cen t; in 1890, March, 1; 1891, March 20,1.
From January 1 to April 30, 1891 (4 months), gross earnings
were $357,441, agst. $269,495 In 1890; net, $119,873, against $90,077.
In 1890 net profits (coal and railroad) were $266,320; surplus over
fixed charges, $101,325. In 1889, net profits on oeal sales, $105,017;
net from railroad, $109,567; total net revenue, $214,584 ¡interest paid
122,414; surplus, $92,170. H. G. Davis, Baltimore, President—(V.
6, p. 4 8 0 , 610; Y. 48, p. 129; V. 50. p. 878 ; V. 52, p. 126, 204, 796.)
W e s t V i r g i n i a & P it t s b u r g .—(See Map Baltimore & Ohio.)—
L ink of R o a d —
Clarksburg, West Va., on the Baltimore & Ohio, to
function Cherry and Ganley rivers, and from Weston to Braxton Court
House, West Va., about 175 miles. In operation from Clarksburg via
Weston to Buckhannon, 40 miles, and balance under construction.
Leased for 999 years for 37*2 per cent of gross earnings to the Balt. &
Oirio, which guarantees any interest on the honds not met by rental.
Bee V. 51, p. 718. In 1905 and at end of every ten years thereafter
rental may be altered by arbitration. The first mortgage for $4,000,000 (trustee, Mercantile Trust Company of Baltimore) covers besides
the road and its equipment 134,842 acres of timber, coal and mineral
lands in West Virginia. Bonds for $1,000,000 are reserved for branches,
•etc. There is a sinking fund, but the bonds cannot be called. Stock)
■$3,400,000; par, $100. Pres’t, J. N. Camden.—(V. 50, p. 351, 482,726 ;
V. 51, p. 718.,
W e ste rn A la b a m a .—L ine of R oad —Selma to West Point, 138
miles. Sold May 10,1875, in foreclosure and purchased iointly by the
Oeorgia Railroad and Central Railroad of Georgia.. In 1890gross
•earnings were $566,070; net, $200,841; surplus over fixed charges,
$99,420, against $22,647 in 1888-89. Stock, $3,000,000 (par, $100), of
which Central of Georgia and Georgia Railroad each owns $1,500,000.
W e ste rn M a ry la n d .—L ine of R oad—Baltimore to Williamsport,
Md., 90 miles. Leases—Baltimore & Cumberland Valley Railroad and
extension, Edgemont to Shippensburg, Pa., 34 m iles; Baltimore & Har­
risburg Railroad, Emory Grove, Md., to Ortanna, Pa., 59 m iles; western
extension, Ortanna to Fairfield, 4 miles, and operated branches, 19
m iles; total, 206 miles. The Baltimore & Harrisburg, which was leased
in November, 1886, for 99 years, is practically owned.
.
The Baltimore & Cumberland Railroad and Railway are leased for in­
terest on $121,300 bonds, due July 1,1929, and the Baltimore & Cum­
berland Railroad extension till November 1,1931, at $32,700 per an­
num, equal to 6 per cent interest on $230,000 bonds, due July 1,1931,
and 7 per cent on $270,000 stoek.
Concerning the projected lines, see annual report m V. 51, p. 875.
In January, 1891, the Potomac Valley filed a mortgage for $2,000,000.
fiee V. 52, p. 121.
■
The stock is $684,700; par, $50. The company has been largely as­
sisted by the city of Baltimore, which owns $200,000 of its stock, and
•prior to March 28,1891, had paid out by way 9f interest on the company’ s guaranteed loans and on its own bonds issued against tne company’ s mortgages deposited with it as collateral, the sum, it is stated, of
$2,801,222 m excess of amounts repaid by the company. The first
mortgage, for $43,500, due in 1890, is overdue.
Of the issue of $690,000 Baltimore & Harrisburg bpnds, $207,000 are
held in trust to p a yoff prior mortgages, as follow s: Bachman Valley
first 5s, due April 1,1892, $45,000; Hanover Junction H. & G. first 6s,
due January 1,1895, $42,000; Baltimore & Hanover first 6s, due Janu­
a ry 1,1899, $120,000.
In addition to the bonds in the table the company is said to be respon­
sible for $226,530 six per cent funded coupon certificates, for a Hillen
.¡Station 8 per cent loan of $200,000, and for Western Maryland Termi­
nal 7s to the amount of $131,163. The floating debt on April 1,1891,
was $522,770, consisting of notes and bank discounts, and the total
past-due interest paid by the city of Baltimore, $2,801,222. Total in­
debtedness, $9,947,086; fixed charges, $536,325. Sinking funds Octo­
ber 1, 1890, 208,602.
Fiscal year ends September 30. in 1888-89, gross earnings were
*773.468; net, $255,726; betterments, $101,218; in 1889-90, gross,
$812,055; net, $277,871; betterments, $65,684.—(V. 48, p. 490; V. 49,
p. 270; V. 51, p. 21, 52, 875.)
W e ste rn N ew York: Sc P e n n sy lv a n ia .—Owns Buffalo to. Em­
porium, Pa., 121 m iles; Buffalo to Oil City, Pa., 136 m iles; Oil City to
■Clean, 116 m iles; branches, 261 m iles; total owned, 634 miles; track­
age, 6 m iles; total operated, 640 miles.
This company was organized November 22,1887, as successor to the
Buffalo New York & Philadelphia (a consolidation of 1883), which
became embarrassed in 1884 and was sold in foreclosure September 15,
Balance, surplus...............................
26,245
7,226
- 66,588
1887. The plan of reorganization was in the Chronicle, V. 42, p. 242.
First mortgage bonds are reserved to pay the Warren & Franklin bonds —(V. 50, p. 71,197, 910; V. 51, p.344, 5 6 8 , 910; V .52,p. 204,428, 762.)
W ilm in g to n C olu m b ia & A u g u sta .—Owns from Wilmington»
* The second mortgage bonds are a second lien on the railroad and first N. C., to Columbia, S. C., 189 miles. Leases jointly with Northeastern
on terminals, coal and equipment, subject to lease of terminals and South Carolina Railroad, the Central Railroad of South Carolina, Lane,
eamoment to first mortgage bondholders if foreclosed.” Till January, S. C., to Sumter, S. C., 38 miles. Total operated, 227 miles. An exten­
1898 they bear interest at the rate of 3 per cent, but till 1893 interest sion is projected from Fayetteville to Rowland, N. C., 41 miles.
Sold m foreclosure October, 1879, and reorganized. Dividends of 6
■mav be paid wholly or partly in scrip as follow s: 1 per cent cash. 4
*orip; l^ c a s h ,3 scrip; 2 cash,2 scrip; 2*scash, 1 scrip; o r5 p ercen tif per cent yearly have been paid since 1881.
In June, 1885, the road and property of this company were leased for
paid all in scrip; after 1898 the rate is 4 per cent cash and, if earned, 7

f




143

INVESTORS’

SUPPLEMENT.

rvoL.

lu .

Subscribers w i ll confer a great fa v o r by g iv in g im m ediate notice o f a n y error discovered in tbese T a b les.
Bonds—Princi­
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent.
Whom.
Dividend.
Wheeling £ Rake Erie—( Concluded.)—
1st M. Wheel., Div., $ & £ (2d on 187 miles)... c*
Toledo Belt Railway 1st mortgage, gold, guar__
Exten. and Impr. mort. for $1,900,000, g., $ & £.c*
Wilm. Colum. £Aug.—Stock, 6 p. c., guar.Wil. & Wei.
1st mortgage................................... ........................ c
Wilmington £ North,—1st M., 20-40’s ($1,000,000) r.
Wilmington £ Weldon—Stock.....................................
Certificates of indebtedness, non- cum., incom e...
Sinking fd. bds., g., provided for by geh’l mort.c*
Gen’l mort. for $4,000,000 ($12,000 per mile). .c*
Special Trust certificates................................
Winona '£ South W.—1st M., $18,500 p. m., gold..c*
Wisconsin Cent. Co.—Chippewa Falls & West. 1st M.
Wisconsin & Minnesota 1st mortgage....................
Minn. St. Croix & Wisconsin, 1st mortgage..........
Terminal mortgage notes.....................................
Improvement mortgage notes............................
Wisconsin Central Co. 1st M. for$12,000,000,g.c*
Income M., non-cum., gold, for $9,000,000.. .c*
Central Car Co. Equipm’t, leases and contracts.
Chicago Wis. & Minn, (leased)—1st mort., gold.c*
Income,bonds, 6 per cent, cumulative..... ........ .
Wis. Cent. R. R.—Consol. M.,1st series,gold... .c&r
Consol. M., 2d series, ineome(not cum.)gold.c*&r
Worcester Nashua £ Rochester- Stock.......................
Worcester & Nashua RR. bonds.___c*
do f
do
do .......c*
Wor. Nashua & Roch. RR. bonds.___c*
do
do
do . . . . .'o*
g Nash. & Roch. Ist mort, bonds..........c*
Zanes. £ Ohio River—1st M., gold, $25,000 p. m..o*J

50
6

ÌÓ
54

All.
All.
122
! 384
384
94
46
46
46
46
94
80

1888
1888
1889

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

$1,500,000
500,000
1,400,000
960,000
1880
1,600,000
1887
500,000
3,000,000
2,500,000
936,000
1885
2,954,000
380,000
l ’ ÒOO
1888
555,000
1874
1,000
150,000
1880
810,000
1884
180,000
1885
400,000
1886
215,000
1,000 11,032,000
1887
1,000
1887
7,793,000
2,943,642
1885
1,000
2,860,000
1885
1,040,000
.1879 50Ó" &c.
1,594,500
1879 500 &c.
12,000
100
3,099,800
1873 500 &c.
250,000
1875 l.OOO&c
385,000
1,000
1886
150.000
1890
80,000
1874 50Ó &c.
565,000
1886 100 &c,J 2,000,000

99 years to the Wilmington & Weldon, the lessee to pay all interest and
fixed charges and 6 per cent dividend on the stock, payable semi-annu­
ally in January and July. In year ending June 30,1890, gross earnings
w ere$944,476; net, $296,335; total net (adding other income), $332,039;
paid interest, $96,000; dividend, $57,600; taxes, &c., $23,837; balance
to Wilmington & Weldon $154,601. In 1888-89, gross, $840,114; net,
$204,596.—(V. 47. p. 8 0 1 ; V. 52, p. 39.)
W ilm in g to n & N orth ern .—Owns from Wilmington, Del., to
Highs Junction, Pa., 71 m iles; branches, 17 m iles; total owned 88
miles; trackage, 4 m iles; total operated, 92 miles. Organized January
18,1877, as successor to the Wilmington & Reading Railroad; sold in
foreclosure December 4,1876. Of the mortgage for $1,000,000, only
$500,000 can be issued on present mileage. Stock authorized, $1,500,000; outstanding, $1,278,050; par $50. Gross earnings in 1889,
$412,790; net earnings, $74,043; surplus over charges, $49,043. In
1890 gross, $439,191; net over expenses and taxes, $77,944; surplus
over fixed charges, $52,944.
W ilm in g t o n & W e ld o n .—Owns Wilmington to Weldon, N. C.
162 m iles; Dranches—Tarboro, 16 miles; Scotland Neck (Halifax to
Kinston) 86 miles; Fayetteville (including Midland of N. C., 93 miles;
Nashville, 19 m iles; Clinton, 13 m iles; other, 3 m iles; total owned,
392 miles. Operates Albemarle & Raleigh RR., Tarboro to Plymouth.
54 miles: Florence RR.. 27 miles; Manchester & Augusta. 16 miles.
Leases Wilmington Columbia & Augusta, 189 miles; Central South Car­
olina (jointly with Northeastern South Carolina RR., 38 miles; has
$653,510 invested in the Norfolk & Carolina RR., 110 m iles; total of
all, 826 miles.
Leased November, 1872, to Wilmington Columbia & Augusta RR.
for 99 years. The lessees made default December, 1877, and the
lease was surrendered April 13, 1878. In June, 1885, this company
leased for 99 years the Wilmington Columbia & Augusta (which see).
An increase of stock has been authorized to such an amount as may
be necessary to complete certain extensions. (See Y. 51, p. 348, 876.)
There was June 30,1890, $1,467,401 to the credit of the sinking fund.
The certificates of indebtedness, $2,500,000, were distributed to stock­
holders in January, 1887, as a scrip dividend. There were also June
30,1890, $437,149 new equipment notes.
Dividends since 1877—Froml878 to 1881, inclusive, 3 per cent; in
1882 and 1883, 6 ; in 1884 and since at rate of 8 per cent per annum.
Fiscal year ends June 30. In 1889-90, on 362 miles, including Mid­
land of North Carolina, gross earnings were $1,350,853; net, $669,716;
total net (including W. C. & A. lease account, etc.), $943,993; paid in­
terest, $441,947; dividends, $200,000; balance, $302,046. In 1888-89
gross, $1,224,044; net, $532,872. (V, 47, p. 8 0 1 ; Y. 50, p. 312; V.
51, p. 348, 876; V. 52, p. 39.)
W in o n a & S o u th w estern .—Road projected from Winona,
Minn., to Omaha, Neb., 375 miles ; completed from Winona to Osage,
about 100 miles. The reorganization plan of the Green Bay Winona &
St.'Paul provides for a traffic arrangement with this road. Trustee of
mortgage (for $6,950,000) Farmers’ Loan & Trust Company. Stock,
$7,500,000. There is $
(?)
of scrip, interest paid A & O by J.
Walker & Sons, par value $500. (See V. 51, p. 172.)
W is c o n s in Central C om p an y.—(SeeMap.)—Owns junction near
St. Paul to Abbottsford, Wis., 157 m iles; branch to Bessemer, 34 miles;
other branches to Eau Claire, &c., 12 miles; spurs, 31 miles. Leases
Chicago Wisconsin < Minnesota, Chicago to Schleisingerville, 112 miles,
fe
and spurs, 8 miles; trackage to Chicago, Minneapolis, &c., 26 miles;
Total, 380 m iles; controls Wisconsin Central Railroad, owning from
Menasha to Ashland, 252 miles; Stevens Point to Portage City, 71
miles; branches and spurs, 62 m iles; and leasing Milwaukee & Lake
Winnebago, Neenah to Schlesingerville, 64 miles, and spur 2 miles;
Packwaukee to Montello, 8 miles; trackage, Milwaukee to Rugby Junc­
tion, etc., 28 miles. Total Wisconsin Central Railroad, 487 miles. Grand
total, 867 miles.
Organization , E tc.—Organized J u n e,1887, to gather into a single
corporation the Wisconsin Central Associated Lines. Nearly all the se­
curities of the Wisconsin Central Railroad are now owned, except
$1,594,500 of its first series and a few of its second series bonds.
In 1889 a traffic contract was made with the Northern Pacific, and on
April 1,1890 this was altered to a 99-year lease, under which the North.
Pacific agrees to pay all operating expenses and taxes, the Wisconsin
Co. furnishing the equipment. As rental the Wisconsin Co. receives
35 per cent of the gross earnings of that part of the road lying north of
the junction with the Milwaukee & Lake Winnebago and 3 7 ^ per cent
o f the gross earnings of the Milwaukee & Lake Winnebago and the Chi­
cago Wisconsin & Minnesota. If operating expenses are less than 59
per cent of gross earnings, the saving is to be divided between the lessor
and the lessee. The lessee assumes all operating contracts, but the Wis­
consin Company is to pay all rentals accruing under such contracts, ex­
cept the rentals due the Chicago & Northern Pacific and the Chicago
Milwaukee & St. Paul, which rentals are to be met by the lessee. Once
in five or ten years an alteration in the percentages is permitted by
arbitration.—(See V. 51, p. 713.)
. . . .
.
,
,
..
,
The Chicago & Northern Pacific (which see) was leased on May 1,
1890, for 99 years, the lease being then assumed by the Northern
P&oific«
The Chicago Wisconsin & Minnesota, from Schleisingerville to Chicago
A Northern Pacific terminals in Cook County, 111., 122 miles, is leasedm
perpetuity. Rental is 3 7 ^ per cent of gross earnings, less its propor




5
5
5
3
6
5
4
7
7
•5
6
6
7
7
6
8
8
5
5
6

g- J. & J. N.Y., Cent.Tr.Co.& Lon.
g- M. & S. N. Y., Central Trust Co.
do
do
g. F. & A.
J. & J.
Wilmington, N. C.
J. & D. New York & Baltimore.
J & D. Co.’s Office, Wilm., Del.
J & J. Wilm., N.C., Co.’s Office.
A. & O.
do
do
g. J. & J. N.Y.,Balt. and Wilming,
J. & J.
do
do
M. & N.
Wilmington, N. C.
g. A. & 0. N. Y., J. Walker & Sons.
M. & N.
Boston.
A. & 0.
do
M. & N.
do
F. & A.
do
M. & S.
do
g. J. & J. N.Y.,36 Wall St.& Lond.
No coupons paid.
g. A. & 0.
M. & S.

5 g. J. & J.
7 g. J. & J.
3
J. & J.
A. & O.
5
5
F. & A.
4
J. & J.
4
J. & J.
A. & O.
5
6 g. F. & A.

July 1, 1928
Paft each year
Feb. 1, 1930*
Jan. 10,1891
June10,1910
1907-1927
Jan. 15,1891
Irredeemable.
1896
1935
At Co.’ s option
Apr. 1, 1928
1904
Apr. 1, 1910
May 1, 1915
F o b .1,1895
Sept. l l r1906July 1, 1937
July 1, 1937
1894-1899
New York, 36 Wall St. Mch. 1, 1916
Mch. 1, 1916
Jan. 1, 1909
Boston, 50 State St.
Jan. 1, 1909
Jan. 3, 1891
Worcester, Offlc.
Apr. 1, 1893
Boston, Globé Nat. Bk.
do
do
Feb. 1, 1895
do
do
July 1, 1906
do
do
Jan. 1, 1930
do
do
Apr. 1, 1894
Last paid Feb. 1,1889. Feb. 1, 1916

tion of terminal charges ; but surplus rental over $350,000 yearly is
divided equally with lessee.
The Milwaukee & Lake Winnebago Railroad, from Neenah to Schlei­
singerville, is leased to the Wisconsin Central Railroad for 99 years;
the rental is 37*3 per cent of gross earnings up to $175,000 per year,,
all surplus to go equally to lessor and lessee.
Stocks and B onds .—Besides the bonds in table there are Minnesota
transfer mortgage notes, $70,000; Penokee 1st 5s, $30,000; St. Paul &
St. Croix Falls 1st mort. 6s, $90,000. The preferred stock (6 per cent
cumulative) is $3,000,000; common stock, $12,000,000. The first mort.
bonds of 1887 and (subject to these) the incomes cover all the company’s
interest now or hereafter acquired in any of the lines which at the time
of the making of the mortgage were operated in the Wisconsin Central
system, whether owned or leased. They therefore cover all the securi­
ties of said companies held by the Wisconsin Central. Trustees o f mort­
gages, Charles L. Colby and Colgate Hoyt, of New York, and Edwin H.
Abbot, of Cambridge, Mass. It is proposed to issue debentures in order
to fund the equipment notes, etc. (See V. 51, p.714.)
The Wisconsin Central Railroad had a land grant of 838,628 acres, of
which to June 30,1890, 250,000 acres had been sold for $700,203, and
2,626 town lots and 42 blocks, for $125,597, receipts from pine stumpage to that date being $962,261.
E arnings and F inances .—Since the Wisconsin Central (Company
owns practically all the securities of the Wisconsin Central Railroad,
the entire earnings of both companies go into the Wisconsin Company’s
treasury, from them being paid the total charges of both companies,,
representing about $1,669,385. The Chicago & Northern Pacific being
sub-leased to the Northern Pacific its earnings are not included in the
tabulated statement for the year given below, they having no relation
to this company’s finances. In the monthly earnings, however, as re­
ported by the Northern Pacific Railroad Company, its earnings are in­
cluded, consequently making them useless in determining the earning
capacity of this company. See full explanation in V. 51, p. 748.
Fiscal year ends June 30. Report for 1889-90 was in Ch ronicle , Y .
51, p. 713. In the tables below the first gives results of the entire
system; the second the results of the Wisconsin Central Company.
WISCONSIN CENTRAL SYSTEM.
EARNINGS AND EXPENSES FOR TEARS ENDING JUNE 30.
1889-90.
1888-89.
867
829
Miles operated June 30.
Gross earnings......................................................3,957,818
Operating expenses and taxes............................2,807,941

4,780,344
3,125,044

1,149,877
Net earnings......................
WISCONSIN CENTRAL COMPANY.

1,655,300

INCOME ACCOUNT FOR YEARS ENDING JUNE 30.

1888-89.
Receipts—
$
Net earnings.......................................................... 574,982
Interest and commissions, &c............................. 467,720
Rental from Northern Pacific R R ......................................

1889-90.
$
517,722
649,407
217,761

T ota l....................................
1,042,702
Disbursements—
Interest on bonds.................................................. 527,787
Rentals of railroads.....................
292,650
Taxes, terminal charges, &c............................... 242,195

1,384,890
617,842
500,241
237,125

Total.........................................- ....................1,062,638
1,355,208
Balance
..................................................... df. 19,936
sur.29,682
—(V. 49, p. 23, 6 1 3 , 857; V. 50, p. 107,140, 314, 484, 834; V. 51, p646, 7 1 3 , 748 ; V. 52, p. 126.)
W o rcester N ashua & R o ch ester.—Owns from Worcester to
Nashua and Nashua to Rochester, 94 miles. Consolidation 1883, of
Worcester & Nashua and Nashua & Rochester.
In October, 1885, a lease of this property for 50 years, from January
1,1886, was made to the Boston & Maine Railroad Company at a ren­
tal of $250,000 and taxes. The mortgage of 1879 secures equally on
the road from Worcester to Nashua the debentures of 1873 and 1875,
and all the other bonds, including the Nashua & Rochester 1st
mortgage bonds of 1874. For 1888-9 rental $250,000; net over all
fixed charges, $161,453; paid dividend of 6 per cent, $183,846; deficit
charged to profit and loss, $22,393. Balance of profit and loss June
30,1889, $259,817. Dividends since 1883 have been: In 1 8 8 4 ,1 ^ ; in
1885', 3 and 17 stock; in 1 8 8 6 ,3 ; in 1887 and since at rate of 6 per
cent yearly. (V. 52, p. 204.)
Zan esville & Ohio R iv e r .—Owns from Zanesville, O., to Harmar, on the Ohio River, opposite Marietta, about 80 miles, including
branches, three miles. Whole line put in operation on September 15,
1888. Stock, $2,000,000. Mercantile Trust Company, New York,,
trustee of mortgage.
In August, 1889, interest was defaulted on the bonds, and a reorgan­
ization plan has been proposed under which there will be issued $2,o0o,000 flrstmortgage SO-yearA^ per cents, $1,000,000 non-cumulntive 5 per
cent preferred stock and $2,000,000 common stock. Foreclosure suit in
progress. See V. 50. p. 1 4 0 —(V. 49, p. 178, 236 V. 50, p. 140, 353.1

143
BONDS.
AND
STOCKS
RAILROAD



144

INVESTORS’

SUPPLEMENT.

[V ol . LH.

Subscribers w i l l con fer a great fa v o r b y g iv in g im m ed iate notice o f any error discovered In these T a b le ..
MISCELLANEOUS.
Bonds—PrinefrINTEREST OR DIVIDENDS.
Date Size, or
Amount
For explanation of column headings, &c., see notes on of
pal,When Due.
Par
Rate Per When
first page of tables.
Bonds Value. Outstanding Cent. Payable Where Payable, and by Stocks—Last
Whom.
Dividend..

M IS C E L L A N E O U S .
Adams Express—Stock.................................
American Bell Telephone—Stock ($20,000,ÖÖÖauthorized)'
Debentures, subject to call at 110..........
c&r
American Coal (Maryland)—Stock...
............
American Cotton Oil—St’k $10,198,600 ispf.6 p.c. nön-'cüm
Debentures for $5,000,000, subject to call at 110, g c*
American Express—Stock.............
American Sugar Refining—Stock, $25,Ö0Ö",ÖÖÖ is pref'
1st mortgage for $10,000,000................ ............
' '
American Tel < Cable—Stock, guar. 5 p.c. byWest. Union
6
American Tobacco Co.—Preferred stock, 8 p. c. non-cum
Brunswick Company—Stock....................... .
Cahaba Coal Mining—Stock.......... ......................................
1st mortgage, sinkingfund/drawn at l ib ’.""." V.""'.c\fcr
Cameron Iron < Coal Co.—1st mortgage
&
Canton Company—Stock..................
..........
C entrals South American Telegraphy-Stock.
1!!
Construction certificates, redeemable in stock.........
Chesapeake dt Delaware Canal—1st M.(extended in 1886)r
Chicago Gas Trust Co.’s receipts of equitable interest...
8 ? as Uight & Coke 1st mortgage, gold, guar.. .c
J

$100
100
1888 500 &c.
25
100
1890
1,000
100
100
1,000
100
100
100
100
1886
1,000
1888

Too

100
1890
100
1886 500 &c.
100
1874
500
1874
500
Equitable Gas Light & Fuel 1st mort., guaranteed.. . .c* 1885
1,000
consumers Gas 1st mort.,guar, principal and interest.c 1886
1,000
Chicago Gas Light & Coke 1st mortgage, gold, guar.. .c 1887
1,000

A d a m s E x p ress.—No reports.
«JO .— .Dividends—In
pei
f.r ?S®îî B e l l T e le p h o n e C o .—Dividends—In 1881, 6 per
a\18?if>o1ib - 8?2 ’ 12 ’ in 1884’ 15 > fro“ 11885 t0 1887, inefus
; ln 1
to 1888>18 ! m 1889,18 ; in 1890, January 15, 3 ; April 15, 3;
6 e ^ r a ; October 15, 3 ; in 1891, Jan. 15, 3; April 15, 3.
« o £or?nni?ers °* Tan. 27, 1891, had the privilege of subscribing to
A t
$2,500,000 new ow oim iueu -a.pr.il r, JLBU
stock issued April 1,1891l.
oiiafn^+ioo
company had 240,412 miles of wire in use
against 193,213 miles in January, 1890.
The annual report for 1890 was in C h r o n i c l e , V. 52, p. 532.
INCOME ACCOUNT.

1887.

Other receipts.
Disbursements—

1888.

1889.

1890.

3,453,028 3.865,119 4.044,704 4,375.291
2,210,597 2,414,206 2,658,738 2,869,418
27,011
22,258
3,150
2,237,608 2,436,464 2,661,888 2,869,418

Depreciation reserve.......

1,176,252 1,192,152 1,238,913 1,463,913
392,084
597,726
600,000
750,000
132,616
646,586
700,000
655,505

Surplus.

1,700,952 2,436,464 2,538,913 2,869,418
536,656
122,975

A m erican C oal.—There are mortgage bonds for $200,000. The
annual statement for 1889 in V. 50, p. 275, gave the following information: Income, 1889, $760,802; total expenses and interest to March,
1890, $651,853; balance, $108,948, against $103,034 in 1888; divi­
dends (6 per cent), $90,000; surplus, $18,948. (V. 50, p. 275.)
A m erican Cotton O il.—This company was incorporated Oct.
12.1889, under the laws of the State or New Jersey, to succeed the
American Cotton Oil Trust, of which it is a reorganization. The Trust
certificates were exchanged for new shares in the proportion of one
share of Trust certificates for 50 per cent thereof in new common
stock ana 25 per cent thereof in new preferred stock, thereby reducing
lle ca to ta lfzM o n
per cent, or $10,546,928 in amount. On April 14,
1891, the certificates of the Trust which had not assented to the reor­
ganization amounted to $506,828. See statement to N. Y. Stock Ex­
change, giving balance sheet, etc., in V. 52, p. 763.
On April 1, iS 91, the company, through its ownership of American
Cotton Oil Trust certificates, had a 98-8 per cent interest in the followm g properties, all of which were free from mortgage lien : 75 crude oil
mills, 16 refineries, 5 lard plants, 7 soap factories, 19 cotton ginneries,
5 cotton presses and 8 fertilizer factories; in all 135 properties (of
which 33 not active) in sixteen States.
There are fifteen directors, among whom are Edward D. Adams, N.
K. Fair bank, Hon. Garret A. Hobart, John H. Inman, Emanuel
Lehman, George A. Morrison, and R. T. Wilson. See official statements
in V. 51, p. 344 and 645 ; V. 52, p. 763.
The preferred stock is 6 p. ct., non-cumulative. It is secured by deposit
of $41,678,400 certificates of the American Cotton Oil Trust, and is
subject to call at any time at 105. Preferred stock for $4,801,400 and
common stock for $854,900 (additional to the amount given in the
table above as outstanding) is in the company’s treasury. Of the pre­
ferred stock so held the company has bound itself not to issue an
amount equal at par to the amount of outstanding debentures.
The debentures were issued in the reorganization to pay floating debt
and to provide working capital. They are subject to call at 110, on two
months’ notice. No mortgage lien can be placed upon the property
without the written consent of the holders of 80 per cent of these dehentures. The Cotton Oil Trust paid one dividend of 1 per cent August

$12,000,000
15.000.
000
2,000,000
1.500.000
30,435,700
4.000.
000
18.000.
000
50.000.
000
(?)
14.000.
000
10.000.
000
5.000.
000
1.400.000
750,000
1.000.000
3,746,800
4,808,600
1,000,000
2,602,950
25,000,000
2.100.000
2.500.000
2,000,000
3.832.000
7.650.000

2
3
7
3

Q.—M. New York, 59 Broadw’y
Q.—J. Boston, Comp’y’s Office.
F. & A,
do
do
M. & S, N. Y., Office, 1 B’dway.

June 2, 1891
Apr. 15, 1891'
Aug. 1, 189»
Mch. 10,1891

Q.—F. N. Y., Winslow, L. & Co. Nov. 1, 1900»
J. & J, N.Y.jCo.’s Of., 65 B’way July 1, 1891
J. & J. N. Y., Central Trust Co Jan., 1911
Q .-M . N. Y., West. Union Tel, Dec. 1, 1 8 9 »
1^
2
Q.—F. N. Y., Farm. L. & Tr. Co, May 1, 1891
1*4
Company’s Office.
Feb. 25, 18907 g. J. & J, N. Y., Farm. L. & Tr. Co. Jan. 1, 1907
In default.
1928
1%
Q.—J. N. Y., Office, 37 Wall St. Apr. 8, 1891
5
do
do
See remarks.
5
J. & J. Phila.,Of.,528Walnut St July 1, 1916
1
Q.—J.
Chicago, Office.
Oct. 30,1890
6 g. M. & N. N.Y..Cent. Tr.& Lond’n. Nov. 1, 1904
fe
6 g. J. < D.
do
do
Dec. 1, 1904
« S- J. & J. N. Y.,Cent. Tr. & Chic. Of. July 1, 1905
J. & D. Chicago, Union Nat.
£ g - J. & J. N. Y., Central Trust Bk. Dec. 1, 19 3 »
5 gCo. July 1, 1937

is

throl
11??®®

li1 run“ ng o ^ e r, seven being in or near New Y ork.
™ ?® st0Ii( th.® others m Por tland, St. Louis and New OrL „eflnei i .® have a capacity of about 30,000 barrels o f
r 8
S s » ? r ,a ^ iJ M o a P a e it y o f 1,275,000tons per annum. Ther® ??fd 5J,0S 975»°00 tons in 1890 (against 464,790 tons by com,t
?sss
oq® Tni8t)» about 863,000 tons in 1889 and 988,000 tons in
shou ldM u lf.ll?A O n°dftth™ et profltof the Trust from refining in 1890
The company has eight competitors, four be™lplu? 1on®1 1 San Francisco and one each in Boston and
’
1
have a total daily capacity of about 15,000 barrels,
l 529
W lio 1
1
United States in 1890 was estimated at
tons, in 1888 at 1,457,264tons.
f ^ i + i ^ A18? 0, Jh® courts decided that the North River Company had
M ^ h i p r ^ hy its alliance with the Sugar Refining Company,
^“ “ tt Wito thereupon agreed to reorganize the Trust. Kidder, Peabody
took part in the readjustment of affairs, and after some litigation
r?°^anization was effected, under the present title, according to
f.A »n ico n EONICL?T
PThe receivers appointed in NovemAT?0’ weir® discharged January 10, 1891. The directors for ther w n ir^re H- 9- Havemeyer, T. A. Havemeyer, F. O. Matthiessen,
UeOvC- Magoun, J. E. Searles, Jr., Wm. Dick and J. B. Thomas.
_ -J;+e capital stock is $50,000,000, consisting of $25,000,000 o f 7 per
cumulative preferred stock and $25,000,000 of common stock.
o ® l«gedfor Central Trust Co. receipts at the rate of $50
ex^
Pjeterred and $50 common for each $100 certificate represented by such,
receipt. In addition 5 per cent in cash was distributed. To provide fo r
™iure contingencies, bonds to an amount not exceeding $ 10,000,000.
6 per cent interest, secured by a mortgage on active refineries,
nave Deen authorized, to he used only as occasion shall require.
c°mpletion of the plan, it is estimated that the company com°P®rations with cash assets and investments exceeding $9,U U OO, with the power to raise upon mortgage $10,000,000 addiU ’U
tional if required. See statement of assets in C hronicle , Y. 51, p. 609.
. 5 m dcuds—'October, 1887, to July, 1890, Inclusive, 2*2 per cent quarteriy. Cctober dividend was deferred on account of reorganization.
r , -Refining Company’s temporary certificates for common
stock—In 1891 to May 22, 57l2@92i4.
85®95 ° f temP°rary certificates for preferred—In 1891 to May 22,
New York office, H 7 Wall Street.—(Y. 50, p. 245, 423, 736, 905; V.
120P535’)143, 241’ 276’ 346, 538’ 609’ 646’ 681 ’ 788>877 i V - 52> P-

h^+in e r lSa n T e le g r a p h & C a b le C o m p a n y .—Owns two cablesbetween Sennon Cove, England, and Dover Bay, Nova Scotia. Cables
leased to Western Union till 1932, with a guaranty of 5 per cent per an­
num on the stock issued—$14,000,000.

i o n ?ie ij CaJ! T o b a c c o C o m p a n y .—This company was organized in
under the laws of the State of New Jersey, for the purpose of buymg, manufacturing and selling tobacco in all its forms. It is the owner
ot the real estate, tobacco factories, patents, &c., formerly belonging to
W. Duke Sons & Co., The Kinney Tobacco Company»,
Kimball & Co. and Goodwin & Co. Its assets in June.
Y,erfLvahmd at $26,825,000. In April, 1891, the tobacco factories
of the Marburg Brothers and G. W. Gail & Ax, of Baltimore, were pur­
chased, the terms of the sale being reported as two-fifths cash, and the
rest m common stock of the American Company. The Farmers’ L oan
j * , ™ ® Company holds in trust the entire issue of common stock
m b m s m and one half the $10,000,000 preferred until the first day
of September, 1891, unless by the terms of the agreement under which,
it is held, or by the unanimous consent of the parties thereto, the
time for such deposit be sooner terminated. Preferred stock listed in
September, 1890. See application in Chro nicle , V. 51, p. 349. Dividends on preferred: From August 1,1890, to May 1,1891, 2 per cent
quarterly. (Y. 52, p. 641.)
B r u n s w i c k C o m p a n y .—Owns real estate and water front in the
lo 8 7 t
city
vicinity, valued January 1,1890,
Price of Trust certificates—In 1886, 30-®70i2; in 1887, 231
4/@64L>- 365;of Brunswick, Ga., and: of local companies (hotels, horse at $2,324,also stocks and bonds
railroads^
in 1888, 25'®5778; in 1889, 2 7 ^ 6 1 ^ ; in 1 890,13@34i2.
^ ’
Tc-)?,0,Lpar value of $632,150, cash value $332,150. Total liabilities
Price of common stock in 1891, to May 22 inclusive, 157«'®29
April 30,1890, $18,436. In 1890 company purchased $100,000 of its
Price of preferred in 1891 to May 22, inclusive,
own stock at from 29 to 32. (V. 50, p. 834.)
Fiscal year ends August 31. Annual meeting of stockholders on the
first Thursday of November.
. U a h a b a C o a l M in in g .—Owns 12,380 acres of coal and iron lands
On April 1,1891 (the new securities having been issued), the com­ in Bibb County, Alabama, with six mines in operation; also 16 miles of
pany had cash assets to the amount of $3,559,501—consisting of cash standard gauge railroad, fully equipped, connecting its mines and
$224,843, and advances for purchases of seed, etc. (these advances mining town, Blocton, with the Alabama Great Southern and Louis­
bearing interest), $3,334,658. Its floating liabilities at the same date ville & NashviHe railroads. The application to the Stock Exchange
amounted to $877,832, including interest accrued, while its surplus was for the listing of the above securities was given in full in Ch ro nicle .
< «7 ,d2o.
p o
V. 47, p. 441. In 1890-91 net profit was $173,577.
Net earnings before the deduction of interest on floating debt, expenses
C a m e r o n I r o n & C o a l C o m p a n y .—This company was organ­
of New York office, etc. (these expenses amounting to $2,731,893 durl 88® to June 30,1890), were for year ending Mav 31 ized in 1886. The lands and property are near Emporium, Pa., and
formerly belonged to the Cameron Coal Company. Stock, $3,000 000 ;
1887,$2,448,226; for 1887-88, $2,459,152; for 15 months ending August
31.1889, $1,835,795; for ten months ending June 30,1890, $169 §62 par, $100. In December, 1889, default having been made on interest
The falling off in the last period is ascribed to hostile legislation and payments, Mr. E. M. Parrott was appointed receiver. Plan of reorgan­
ization (in V. 50, p. 450) provides for $3,000,000 new stock, one-half,
other complications, which it is expected will hereafter be avoided
—(V. 49. p. 433, 538, 578, 6 1 5, 653, 689, 760; V. 50, p. 275, 351.'450 preferred, and $500,000 5 per cent bonds.—(V. 50, p. 204, 450.)
589; V. 51, p. 20, 276, 344, 645, 753, 909 ; V. 52, p. 641, 761, 763.)
’
C a n t o n ( I m p r a v e m e n t ) C o m p a n y ( B a l t i m o r e ) .—The capital
A m erican E x p ress.—Dividends of 6 percent yearly have been stock, by changes made subsequent to the original issue, became praotically only $16 25 par per share. The Union Railroad sinking fund of
paid since 1879.
$918,703 remains the property of Canton Company, and is held by theA m erican Sugar R efin in g .—This new Jersey corporation be­
at maturity. In 1890 and
came in January, 1891, the owner of all the property theretofore trustee till bonds have been paid off considerable sum devoted 1891 a ll
to purbelonging to the Sugar Refining Company, or so called Sugar Trust debts having been paid, there was a 824; V. 50, p. 71,174.)
oaase of company's stock. (V. 49, p.




M

ay

,

1891.]

MISCELLANEOUS

STOCKS

AN D

BONDS.

i t s

Subscriber« w i l l confer a great fa v or by g iv in g im m ed ia te notice o f any error discovered in these T a b les.
Bo nds—Princi­
INI'EREST OR DIVIDENDS.
MISCELLANEOUS.
Date Size, or
Amount Rate Per When Where Payable, and by pal,Wehn Due.
Stocks—Last
Par
For explanation of column headings, &c., see notes on of
Outstanding Cent. Payable
Whom.
Dividend.
Bonds Value.
first page of tables.

Chicago Junction Railways & Union Stock Yards—Stock..
Preferred, 6 per cent cumulative........ ..............................
Collateral trust bonds, gold, $ or £ ................................c*
Claflin (H. B.) Company—Common stock............................
1st pref. 5 per cent cum. ($819,100 is convertible)........
2d pref. 6 per cent cum. ($771,900 is convertible)..........
Colorado Coal rf Inwi^-Stock..................................................
1st consol, mart., gold, accum. sink, fund, not drawn.c*
Col. Coal & Iron Developm’t Co. IstM ., guar.,red.at 105.
Colorado Fuel— Stock, for $5,000,000.................................
Generalmort. gold, for $1,200,000, s. f. red. at 110.. c*
Columbus < Hock. Coal*Iron Co.—Stock, $500,000 is pref­
t
is t M., g. (13,351 acres I’ d, min’s & b’d’gs) s.f. not dr’n.c*
Commercial Cable—Stock ($10,000,000)...............................
Debentures (£480,000) payable $40,000 per annum....
Comstock Tunnel—Income, non-cum., for $3,000,000...c*
Consolidated Electric Light—Stock...................................... Debenture bonds, sinking fund................... ....................c
Consolidation Coal of Maryland—
Stock...............................
1 st mort., consolidated, convertible into stock at pa r..c
Consolidated Oas (N. Y .) —Stock............................................
¡Knickerbocker Gaslight, 1st mortgage, sinking fund.c*
Metropolitan Gaslight Co., 1st mortgage..................... o'
Debentures for $3,000,000............................................... r

189Ò

1880
1889
1889
1887
1889

1872
1878
1881
1888

$6,500,000
N. Y., Office, 45 B’ way.
213
6.500.000
J. & J.
3
do
do
10,000,000
J. & J. N.Y., Cent. Tr.; London.
i g- Q.—:F. N. Y ., Office — Church St
3.203.400
Q.—F.
2,910,200
do
do
111
Q.—F.
2.886.400
do
do
1*2
10,000,000
- 6 g. F. & A. N. Y. Office, Milis B’ ldg.
3.499.000
J. & J.
do
do
5
300.000
N. Y., Office, 18 B’way.
ib'o
4.195.000
1*2
700.000
1,000
6 g. M. & N. N. Y., Atlantic Trust Co.
100
5.200.000 2*2 on pf.
992.000
1,000
6 g. J. & J. N. Y., Merch. Ex. Bank.
100
7.716.000
Q .-J . New York, 1 Broadway.
1%
6
£320,000
M. & N. N. Y., Office, 115 B’way.
50Ó &c. $1,908,000
4 g.
100
2.500.000
Q .-J . N.Y.,Co.’sOf.,32 Nassau
1^4
J. & J. N.Y., AmJSxeh. Nat.Bk.
6
163,100
N. Y.,C o.’ sO£, 71 B’way.
2
T o o 10,250,000
do
do
J. & J.
6
1,000
1.100.000
100 35,430,060
2^2 J. & D. N. Y., Offiee, 4 Irving PL
do
do
J. & D.
6
1,000
587.000
F. & A. N. Y., Farm. L. & Tr. Co.
6
500 &c.
658.000
N. Y., Office, 4 Irving PL
M. & N.
1,000
5
1,500,000
$100
100
1,000
100
100
100
100
1,000

^Central & South A m erican T eleg ra p h .—Line from Vera Cruz,
Mexico, to Chorrilloa, Peru, -with branches, 3,100 miles of cable and 335
•miles of land lines. Completed November, 1882. Connects at Lima
with West Coast Telegraph Company of America, having 1,700 miles of
cable to Valparaiso, and at Vera Cruz with Mexican Telegraph Com­
pany. Stock was increased to $4,808,000 in March, 1890, by the pay­
ment of a stock dividend of 20 per cent. In April, 1890, it was an­
nounced that the company would lay a line of its own to Valparaiso,
about 1,650 miles, and to meet the cost would issue $1,000,000 5 per cent
construction certificates, redeemable with full paid stock at par within
three years of completion of cable, at discretion of directors. _With this
in view an increase of stock to $6,000,000 has been authorized. (See
V. 50, p. 518.) Dividends—In 1885 and 1886,4 per cen t; in 1887,6 per
•cent; from 1888 to April, 1891, both inclusive, at rate of 7 per cent
per annum. In 1889 gross earnings were $683,043; net, $542,372,
against $403,707 in 1888. James A. Scrymser, President, New York.
—(V. 46, p. 804; V. 47, p. 8 0 1 ; V. 50, p. 314, 518.)
Chicago G as.—A company called the Chicago Gas Trust Company
was incorporated in Illinois in 1887 to acquire gas properties in Chi­
cago. In April, 1890, its name was changed to the Chicago Gas Com­
pany, and in April, 1891, the stockholders deemed it expedient to sur­
render their charter to the State, the courts of Illinois having decided
that the holding of stocks in constituent companies was illegal. The
Fidelity Insurance Trust & Safe Deposit, which holds in trust all the
securities formerly belonging to the old company, will issue to the
holders of Chicago Gas certificates, trust certificates for an equitable
interest in said securities.
These certificates, which represent all the property that the Chicago
Gas certificates ever represented, certify that the holder is entitled to
b is ratable proportion of the ownership in all the stocks held by the
Fidelity Company (subject to the lien of the bonds), and has the right to
receive the dividends thereon and to vote the same as he may choose.
Messrs. E. C. Benedict, E. J. Jersmanowski and Walton Ferguson have
been appointed attorneys and agents for the individual property-own­
ers, to act for them in all matters pertaining to the management of the
property.
The Chicago Gas Company owned $14,887,625 of the $14,984,200
stock of the companies whose bonds are given in the table above, and
this stock was deposited in trust for the benefit and security of the
shareholders of the Chicago Gas Trust Company, and for the security
of the holders of the mortgage bonds that were then, or might there­
after, be issued by any of said companies. Through its interest
in said companies it also controlled all but $15,800 of the $1,750,OOO stock of four smaller companies, which have outstanding
«the following bonds: Lake Gas Company, $300,000 1st mortgage
<
6s; Hyde Park Gas Co., $200,000 1st mortgage 6s; and Illinois Light
Heat & Power Co., $200,000 1st mortgage 7s 4 these last being guaran­
teed by the People’s Company, but not by the Trust.
Dividends—In 1889, 4 per cent; in 1890, March, 1; July, 1; October
SO, 1 ; none since.
Price of stock—In 1888, 29%®44; in 1889, 34® 62; in 1890 32®65 ;
in 1891 to May 22, inclusive, 34@5358.
In 1890 gross earnings were $3,832,000; operating expenses, $1,443,000; net earnings, $2,389,000; interest on bonds, $1,035,000 ;
•surplus, $1,354,000, or 5'52 per cent on the stock; dividends paid,
$750,000; balance (surplus), $604,000. During the year 1890 $2,378,•000 was expended from earnings for extensions of the plant and for
improvements. The output for January, February and March, 1891, is
said to have increased 18 per cent over 1890, and in May, 1891, the
•company was reported to have on hand about $750,000 in cash.
Sales of gas by constituent companies: In 1890 were 3,144,346 thou­
sand cubic fe e t; in 1889, were 2,846,062; in 1888, were 2,665,743; in
1887, were 2,660,236. See application in full to New York Stock E x­
change for listing the above securities in C h r o n i c l e , V. 47, p. 746. (V.
50, p. 352,422,451,487, 770,800, 904; 7. 51, p. 193, 240, 6 45,680;
V. 52, p. 121,164, 203, 570, 718.)
Chicago J u n ctio n R a ilw a y s Sc U n io n Stock Y a rd s.—This
company, incorporated in 1890 under the laws of the State of New
Jersey, has purchased 98 per cent of the stock of the Union Stock Yard
& Transit Company of Chicago, which latter company owns the entire
stock of the Chicago & Indiana State Line Railroad Company. The
property thus controlled is all situated in Chicago, and consists of 470
acres of land (with one mile of water front) containing warehouses,
sheds and pens (to accommodate 25,000 head of cattle, 160,000 hogs,
etc.); also 130 miles of steel-tracked railway, connecting with all the
railroads entering the city. The preferred stock is 6 per cent
(cumulative), and in case of liquidation will have priority over the
common stock as to all assets. The collateral trust bonds are seoured
by deposit with the Central Trust Company, trustee of over 90 per cent
ofjthe stock of the Union Stock Yard & Transit Company. For full par­
ticulars see advertisement in the C h r o n i c l e of July 19,1890, and Y.
52, p. 203. The directors of the company include, with others, Messrs.
Chauncey M. Depew, John Quincy Adams and Edward J. Phelps.
From January 1 to February 28,1891 (2 month) s, gross earnings were
$498,924, against $438,017 in 1890; net, $337,423, against
d§324,889. In 1890 gross earnings were $2,853,476; net, $1,904,388.
In 1889, gross, $2,451,038; net, $1,495,329. (V. 50, p. 64, 8 6 ; Y. 52,
p. 203, 204, 238.)
C laflln (H . R .) C om pany.—Incorporated under the laws of New
Jersey in May, 1890, to carry on the mercantile business of the firm of
H. B. Claflin & Co., of New York City, Mr. John Claflin agreeing to hold
$3,000,000 stock and to remain President of the company till May,
1895, if agreeable to stockholders. Preferred stocks have preference
both as to principal and dividends. Holders of $1,000,000 first pre­




Jan. 10,
Jan. 10,
July 1,
May 1,
May 1,
May 1,

1891
1891
1915
1891
1891
1891

Feb. 1, 1900
Jan. 1, 1909
Sept. 15,1890
Oct. 1, 1919
Feb. 2, 1891
Jan. 1, 1917
Apr. 1, 1891
1891 to 1900
Sept. 1, 1919
Odi. 1, 1890
1892-1895
Jan. 31, 1891
Jan. 1, 1897
Dec. 15, 1890
June 1, 1898
Aug. 1, 1901
May 1, 1908

ferred and $1,000,000 second preferred had the option, prior to May
7,1892, of surrendering their certificates and receiving therefor onehalf the number of shares in com. stock and one-half in the same class of
pre Cerred stock as surrendered. The company’s premises have a frontage
of 375 feet on Worth Street, and with all appurtenances are valued at
$2,000,000, its total assets January 1,1891, including merchandise,
accounts receivable, eto., being put at $14,118,175. The profits for last
six months of 1890 were about $500,000, which, after paying full divi­
dends on the preferred and 4 per cent on the common stock, left about
6 per cent to surplus reserve fund. Profits applicable to dividends
were: In 1886, $692,000; in 1887, $766,000; in 1888, $706,000; in
1889, $784,000. (V. 52, p. 350, 351.) Dividends: On preferred stoeks
full dividends to date. On common stock in January, 1891, 4 per ce n t;
in May (dividends then changed to quarterly), 2.
Colorado Coal Sc Ir o n .—('See Map.;—This company, with head­
quarters at Colorado Springs, Col., is a large owner of coal and iron
property in Colorado and of land and town sites around South Pueblo.
Stock is non assessable. The Development Company’ s bonds (guar­
anteed) cover real estate in Pueblo, Col.
An abstract of the report of 1890 was in V. 52, p. 426.
EARNINGS AND EXPENSES.

----------- 1889.----------- « ,---------- 1890.----------- i
5
Gross
Net
Gross
Net
Earnings. Earnings. Earnings. Earnings.
$
$
$
$
Coal and coke department.1,028,279
104,387 1,201,965
248,734
Iron and steel department.229,935 loss 15,2311,351,751 loss 13,321
Real estate department___
26,359
3,897
30,059
10,770
Miscellaneous earnings___
15,843
15,843
185,715
185,715
Total............................... 1,300,416

108,896 2,769,490

INCOME ACCOUNT.

1888.
$
Total net, incl. inc. from investm’ts, &c. 300,149
Interest on bonds.................................... 209,940
10,402
Interest, discount, exchange, &c........
Taxes and insurance...............................
5,305
Items to profits and loss.........................

1889.
8
123,377
209,940
17,057
44,108
45,089

431,898
1890.
9

„

500,625
209,940
5,258
34,076
11,365

316,194
260,639
Total................................ .................. 225,647
239,986
74,502 df. 192,817
Surplus......................................................
In the real estate department the earnings are wholly from rentals o f
houses, lands, &c., containing no receipts from land sales. The land
sales in 1889 realized $2,002,193 (terms being, cash $209,921, on time
$445,707, securities at value taken $1,399,100), against $128,341 in
1888. The sales in 1889 include the sale to the Development ( ompany
for $1,561,666, mostly paid for in securities. E. J. Berwind, President.
Office in New York, 35 Wall Street. (V. 48, p. 189, 3 9 8 , 462; V. 49, p.
690, 824; V. 50, p. 352, 4 5 0 , 4 8 3 . 519; V. 52, p. 426.)
Colorado F u e l.—This company controls 22,188 acres of coal lands
in different parts of Colorado, 20,912 acres being owned, 720 acres
leased and 556 acres partially paid for under contract for purchase.
Total capacity of mines put at 6,000 tons of coal and 150 tons coke per
day. For statement to New York Stock Exchange see C h r o n i c l e , V .
49, p. 864. Dividends—In 1889, l ^ per cent; in 1890, March, June and
September, 1*2 each.
From July 1,1890, to February 28,1891 (8 months), net earnings were
$210,535,against $206,770. In 1889-90 total net earnings were $305,906, against $230,673 in 1888-89. J. C. Osgood, President. New York
office, 18 Broadway. (V. 49, p. 857, 864.)
C olu m bu s & H o c k in g Coal Sc Ir o n C om p an y.—Organized at
Columbus, O., January 2 6 ,1883, and owns large coal and iron proper­
ties, with extensive works thereon, in Ohio, a full description of which
was published in the C h r o n i c l e of February 26,1887, V. 44, p. 278.
The Central Trust Company of New York is trustee of the mortgage.
After May 1,1888, two cents on every ton of coal from the mortgaged
premises goes to a sinking fund; bonds tendered may be purchased at
not above 105. Car trust notes June 30,1890, $105,300.1n 1890 issued
$500,000 of 5 per cent non-cumulative preferred stock ; par, $100. See
V. 5 0 ,p.589, 833. Dividends on preferred: In 1891, February 2 ,2*3
per cent.
From March 31 to June 30, 1890 (three months), net earnings were
$48,185; surplus over charges, $30,155, against $5,635 in 1889. In
fiscal year ending March 31,1890, gross earnings were $988.590: net,
$121,225 (against $109,774 in 1888-89); surplus over interest, taxes
and improvements, $27,603. President. Henry H. Adams. New York
office, 80 Broadway. (Y. 50, p. 37, 589,735,833; V. 51, p. 416; V. 52, p
570, 643.)
C om m ercial Cable C om p an y.—This is popularly known as the
Maokay-Bennett Cable Company, owning two cables from Nova Scotia
to Ireland; one from Ireland to Havre, France; one from Ireland to
Bristol, England; also one from Nova Scotia to New York and one to
Rockport, Mass., &c. In September, 1887, the stock was raised to $6,000,000, and in October, 1888, to $10,000,000, of which sufficient is re­
served to redeem the debentures, &c. Dividends—In 1889,1*2 per cent;
in 1890, 6 per cent; in January, 1891,1% ; April, 1%. In 1889 gross
earnings (approximate) were $1,789,387; net, $1,089,379 (agaim*
$638,135 in 1888); interest, $140,256; sinking fund, $200,000; surplus.
$749,123. Mr. J. W. Mackay, President; Mr. A. B. Chandler, second
Vice-President.—(V. 49, p. 403; V. 50, p. 71, 706,735.)

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147

MISCELLANEOUS STOCKS AND BONDS

(subscribers w i l l confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tbese T a b les.
Bonds—Princi INTEREST OR DIVIDENDS.
MISCELLANEOUS.
pal,When Due.
Date Size, or
Amöunt
Rate per When Where payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes on of
Dividend.
Whom.
Bonds Value. Outstanding Cent. Payable
first page of tables.

Delaware Division Canal—1st M.(ext’d20 years in 1878).c
Denver Gita Gable—1st mortgage, gold........................ c*&r
Denver Tramway—1st mortgage, gold..................................
Consol, mortgage, gold, for $2,000,000..................... c*&r
Detroit Mac .< Marquette Lana Go.—M. (ine.) red. at 100.r
&
Distilling < Cattle Feeding^........ ..........................................
&
Edison Electric Illuminating—Stock.....................................
Certificates convertible into stock (See remarks)............
1st M.for $5,000,000,convert.,g.,red. at 110 aft’r 1899 ..c*
Edison General Electric—Stock for $15,000,000..................
Equitable Gas Light Co. o f New York—S tock .....................
Bonds..........1............... ................... ......................................
Certificates of indebtedness, redeemable in 1891...........
Erie Telephone < Telegraph....................................................
£
Gold d Stock Tel.—Stock,rental guar.6 p.c.99 yrs.W.U.Tel..
k
Bonds, not mortgage.........................................- -'.............. c
Illinois Steel—Stock......................................... .....................
Debentures, subject to call at 105, convertible into stock
Internavi Ocean Telegraph—Stock, 6 p. c. 99 yrs.,W.Union.
Iron Steamboat Company—Stock..........................................
Bonds............................. . . .................... - - - ............. - •
Laclede Gas Light—Stock ($2,500,000 is pref.5 p.c.cum.). .c
1st mortgage, gold............................................................c

1858
1888
1888
1890
1881

1890

1886

1890
1881
1889

$800,000
6
J. & J.
3,313,000
6 g- J. & J.
498,000
6 g- J. & J.
c
1,219,000
6 g- J. S J.
7
A. & O.
3,653,000
31,501,600 *2 Of 1 M’ntlily
1
4,467,800
Q.—F.
223,390
Q .-J .
2,000,000
1,000
5 g. M. & S.
2
Q .-F .
100 13,000,000
2
4,000,000
100
Q.—J.
F. & A.
6
1,000,000
1,000
J. & D.
6
750,000
1,000
Q .-F .
1
4,800,000
100
5,000,000
100
Q .-J .
1*2
M. & N.
500,000
6
500
100 18,639,700 5 stock F. & A.
J. & J.
6,200,000
5
1,000
3,000,000
100
Q .-J .
1*2
2
2,000,000
100
J. & J.
6
500
500,000
100 10,000,000 2*2 on pf.
100 &c. 10,000,000
5 g- Q .-F .
$1,000
1,000
1,000
1,000
1,000
100
100

July 1, 1898
Jan. 1, 1908
July 1, 1908
Jan. 1, 1910
Oct. 1, 1911
June 1, 1891
Peoria, 111.
N. Y., Office, 16 Br’d St. May 1, 1891
Co’s option*
do
do
Mch. 1, 1910
do
do
N. Y., Office, 44 WaU St. May 1, 1891
N. Y., Office, 340 3d Av. April 15,1891
N. Y., Central Trust Co. Aug. 1, 1899
N. Y., Office, 340 3d Av. June 1, 1896
Co.’s Of., Lowell, Mass. May 18,1891
N. Y., West. Union Tel. Apr., 1891
do
do
May 1, 1895
N.Y. jMetropolitanTr. Co Feb. 19, 1891
N. Y., John Paton & Co. Jan. 1, 1910
N. Y., West. Union Tel. Apr., 1891
N. Y., Pier 1, North Riv. Oct. 20,1890
N. Y., First Nat. Bank. July 1, 1901
Apr. 1, 1890
St. Louis, Office.
N.Y.,H.B. Hollins; St.L. May 1, 1919
Phila., 226 So. Third St.
N. Y., Taintor & Holt.
Denver.
New York City.

C om stock T u n n e l.—Owns the Sutro Tunnel on Comstock Lode York Stock Exchange in V. 50, p. 906. Stock was increased to $4,500,for facilitating gold and silver mining operations. The property was 000 February, 1891. Dividends from 1885 to May, 1891, both in­
foreclosed January 14,1889, and this company formed in September, clusive at rate of 1 per cent quarterly. In January, 1891, an extra
1889, with 2,000,000 shares of $2 each, making $4,000,000 capital, dividend of 5 per cent was paid in certificates convertible into stock
against $20,000,000 of the old Sutro Tunnel Company. The company whenever the company increases its stock, or redeemable in cash at
has contracts with 23 mining companies for monthly payments of roy­ the option of the company. These certificates will receive same
alty at the rate of 4 per cent on the bullion yield at market price m dividends as the stock. In 1890 gross, $488,595; net, $229,079,
gold. The reorganization plan provides that one-half the surplus in­ against $124,032 in 1889. Annual report for 1890 was in V. 52, p.
come above interest shall be applied to purchase of the bonds if ob- 202. Spencer Trask, President. (V. 50, p. 7 1 ,77 1 ,9 0 6 ; V. 52, p. 126,
tamable at or below 75, and m March, 1891, about $90,000 was de- 2 0 2 .)
voted to this purpose, thus reducing the funded debt by $231,000, the
E d iso n General E lectric.—Organized in April, 1889, and owns
bonds being purchased at about 40. See V. 52, p. 571. In March, 1891, stock of sub-companies as follow s: Edison Electric Light, $1,400,000,
coupons of May and Nov., 1890, were paid, the income from royalties out of total issue of $1,500,000; six manufacturing companies’ entire
having been previously withheld owing to litigation. After paying the stock, $2,390,000 (see V. 50, p. 244); Sprague Electric Railway &
May, 1891, coupon there was left about $100,000 in the treasury. For Motor, $1,392,000, out of total issue of $1,400,000. The Edison Elec­
eleven months ending August 31, 1890 (first fiscal period), gross earn­ tric Light Company owns all the Edison patents for incandescent elec­
ings were $231,287; net, $152,087. The average receipts during three tric lighting in North and South America. It grants exclusive licenses
years ending September 1,1889, were $276,915 per year, and average for specified territory to local companies, and on October 31,1889, it
expenses of operating, $83,337 per year.—(V. 49, p. 178, 471, 580; V. held $1,749,573 of stocks and bonds of different companies acquired for
5ofp. 37,174, 622; V. 51, p. 5 3 7 , 608; V. 52, p. 427, 462, 571.)
such licenses. See detailed statement in Chronicle, V. 50, p. 244 and
Consolidated Electric L ig h t.—The property of this company in report for 1889-90 in V. 52, p. 163. In January, 1891, it was voted to
New York & Pittsburg is leased to the Westmghouse Electric Company increase the capital stock from $12,000,000 to $15,000,000. Divi­
for $150,000 per annum and one cent royalty on every incandescent dends—In 1890, January, 2 per cent; April, 2; July, 2; October, 2 ; m
electric lamp manufactured by the lessee. For statement made to New 1891, Feb., 2; May, 2. For year ending October 31,1890, profits, not
York Stock Exchange on listing stock, see Chronicle , Y. 48, p. 428. including those of the Edison Electric Light Co., were $2,098,116;
In 1890 stock paid 4% per cent.—(V. 48, p. 420, 428; Y . 49, p. 434.)
general expenses, $206,679; dividends. $665,314; surplus, $1,126,123,
C onsolidated Gas o f N ew Y o r k . - This company was organized President, Henry Villard.—(V. 50, p. 244, 245, 525, 771, 904, 910; V.
November 11, 1884, under chapter 367, laws of New York, 1884. The 51, 875; V. 52, p. 1 6 3 ,1 6 4 , 204, 498, 762.)
companies merged in it were the New York Gaslight, the Municipal Gas­
E qu itable Gas L ig h t Co. o f N ew York;.—Incorporated March
light, the Metropolitan Gaslight, the Manhattan Gaslight, the Knicker­ 9,1882. Owns three blocks between Thirty-ninth and Forty-second
bocker Gaslight and the Harlem Gaslight. The total stock was $39,- Streets, First Avenue and East River; also 32 lots between Fifty078,000, of which $3,647,940 was reserved for working capital and for eighth and Fifty-ninth Streets and Tenth and Eleventh avenues, and
indebtedness o f old companies. (V. 46, p. 418, 537.)
four lots southeast corner Eleventh Avenue and Fifty-ninth Street.
C on solidation C oal.—Annual report for 1890 was in V. 52, p. 390- Total assets January 1,1889, $6,185,870, including mains about 114
miles; gas works valued at $2,501,952; real estate at $1,190,922. In
The gross receipts from mines, railroads, rents.
1889.
1890.
&c?(including value of stock of coal on hand).$2,339,645 $2,583,092 1888-89 $1,000,000 new stock was issued. Dividends—In 1886, 5 ^ per
cen t; in 1887 and since 8 per cent yearly. (V. 48, p. 129.)
Net receipts..................................... - .................... $407,996
$468,456
Erie T elegraph Sc T elep hon e C o.—This company owns 65 per
The interest and sinking fund in 1890 took $181,739; balance, sur­
cent of the Cleveland Telephone Co., 70 per cent of the Northwestern
plus. $286,716. Baltimore & Ohio Railroad owns $3,810,000 stock.
Telephone Exchange Co., and 70 per eent of the Southwestern Tele­
This company guarantees also $1,000,000 bonds of the Cumberland
& Pennsylvania Railroad, which it owns, and assumes $55,000 of the graph & Telephone Co., operating in the States'of Ohio, Minnesota,
Union Mining Company’s bonds. Dividends since 1880—For 1881, 2 North and South Dakota, Texas and Arkansas, under licenses from the
per cen t; for 1882 and 1883, n il; for 1884 and 1 8 8 5,1 ; for 1886, %; American Bell Telephone Co. On March 1, 1891, it had 13,376 sub­
for 1887, 1*2 ; for 1888, 2* ; for 1889, 2 ; in 1890, 2; in 1891, January scribers, and exchange offices in 50 cities or villages. The company
4
has about 2,000 miles of wire under ground in the cities of Cleveland,
31, 2 per cent.—(V. 50, p. 3 1 3 ; V. 52, p. 390.)
St. Paul and Minneapolis. Stock, $5,000,000, of which $200,000 is in
D elaw are D iv isio n C an a l.—Owns canal leased to Lehigh Coal the treasury. Par value of shares, $100. No bonds or indebtedness of
& Navigation Co. at interest on bonds and 4 per cent a year on stock any description.
.....
(payable February 15 and August 15). 30,486 shares have been con­
Dividends have been—In 1883 (6 months) 1*4 per cent; m 1884, 2*2 ;
verted into Lehigh Coal & Navigation stock, leaving only 2,181 shares 1885, J'a; 1886, 2 ^ ; 1887, 2 ^ ; 1888, 4 ; 1889, 3%; 1 890,4; m 1891,
unconvertible. Interest on bonds is guaranteed.
February 16, 1; May 18,1. Transfer office, Lowell, Mass.
x
D enver City Cable.—Owns an extensive system of cable lines in
For the year ending March 31,1891, the three companies controlled
Denver, Col., and has the exclusive right to operate horse railways in report gross income o f $791,063; gross expenses, including dividends
that city till 1902. Mileage ow ned: Cable lines, 25 miles single track; paid, $765,617; surplus, $25,446. For the same period the proportion
horse car lines, 47 miles single track; total owned and operated May of dividends received from these companies by the Erie Tel. & Tel. Co.
1, 1891, 72 miles.
Stock authorized, $3,000,000; outstanding, was $208,469; dividends paid by the Erie Tel. & Tel. Co. (4 per cent)
$2,770,000; par $100. See application to New York Stock Exchange $192,000; surplus, $16,469.
at length in Chronicle , V. 50, p. 487.
G old Sc Stock T elegraph C o.—Operated by Western Union
. D enver T r a m w a y .—Owns 18 miles of cable road and 35 miles of Telegraph Company by contract for 99 years from January 1,1882, at
electric railway in the city of Denver, Col. Full abstract of the consol­ 6 per cent per annum on stock and bonds.
idated mortgage was in the Ch ronicle , V. 52, p. 354. (V. 52, p. 350,
I l l i n o i s S teel.—This company was formed May 1,1889, by consol­
352.)
idation of the Joliet Steel, Union Steel and North Chicago Rolling Mill
D etroit M ackin ac Sc M arquette L an d G rant B o n d s.—Owns companies. It owns 19 furnace stacks and in 1890 received 3,642,660
about 1,300,000 acres of land in Northern Michigan, along the line of tons of raw material, and turned out 720,000 tons of pig iron, 36,000
the Detroit Mackinac & Marquette RR., which road was sold in fore­ tons of speigel, 733,000 tons of ingots, 509,000 tons of rails, 204,500
closure October 20,1886. The land grant bonds retained their lien tons of rods, beams, merchants’ steel and iron, etc. _ Stock is to be
upon the lands covered by their mortgage. The bondholders received raised to $50,000,000 in order to increase the capacity of the works.
a bonus of 35 per cent in common stock of the Duluth South Shore & Dividends: In 1890 paid 7 per cent; in 1891, Feb. 19, 5 p. c. m stock.
Atlantic RR. Co. in March, 1888. Lands are free from taxation till
In tern a tio n a l Ocean Telegraph Co.—The Western Union
1895. James McMillan, Detroit, President. (V. 46, p. 320, 573.)
Company operates the line by contract for 99 years from January 1,
D istillin g Sc Cattle Feedin g.—This company, incorporated un­ 1882, paying 6 per cent per year on stock, of which it owns $1,623,100
der the laws of the State of Illinois, owns distilleries as follow s: In
Ir o n Steam boat Co .'■■■Property consists of seven iron steamboats.
Illinois, 27 (of these 6 in Chicago and 14 in Peoria); Ohio, 16 (of these Dividends since 1880—In 1881, 5 per cen t; in 1882 to 1884 inclusive,
8 in Cincinnati); Indiana, 11; Missouri, 7 ; Wisconsin, 2 ; Minnesota, 1; nil; in 1885 and 188 6,3 ; in 1887, 2*2 ; in 1888, n il; in 1889, 2 ; in
Kentucky, 7 ; Nebraska, 2 ; Iowa, 1; New York, 2; California, 2 ; total 1890, 2. In year ending September 30,1889, gross recepts were $325,distilleries, 78. Also one alchohol works in Illinois and 3 in Iowa. 185; net $65,420; surplus over interest, $37,130, against $1,402 in
Stock listen on New York Stock Exchange in September, 1890. Divi­
dends, which had previously been *8 per cent monthly, were in June, 1887-88.
Laclede Gas L ig h t.—This St. Louis company was incorporated in
1890, increased to % per cent monthly, in October to 3g per cent, in
November to ^ per cent, the dividends from December, 1890, to June 1857; in 1889 it came into control of all the other gas companies in St.
Louis, through ownership of their securities. In December, 1890, the
1891, inclusive, being at that rate.
Report for 1890-91 was in V. 52, p 641. For the fiscal year ending Supreme Court of Missouri held valid the contract (running till 1916)
March 31, 1891, the earnings from operating plants were $1,944,265; with the City of St. Louis as to the price of gas.—See V. 51.
from contracts, $106,159; from rentals, $5,550; from interest, $37,- p. 875. In May, 1891, stockholders authorized the purchase of
783; total earnings, $2,093,759; expenses paid, $469,731; monthly all the rival electric companies in St. Louis. Preferred stock
dividends $1,298,255; surplus for year $325,771; cash and cash is 5 per cent cumulative. The Central Trust Co. is trustee under
assets on hand April 1,1891, $2,069,079. President, J. B. Greenhut, the mortgage. See application to New York Stock Exchange in full in
Chronicle , V. 49, p. 657. H. B. HolUns & Co.. New York, fiscal
Peoria, HI. (V. 51, p. 345, 425; V. 52, p. 641.)
agents.—(V. 50, p.. 71, 451, 590, 706,771, 801,910; V. 51, p. 537; V. 52,
E d iso n E lectric Illu m in a tin g .—Listed on New York Stock p. 321, 498, 718.)
Exchange May, 1889. In 1890, to extend its business in New York
L eh ig h Coal Sc N av ig a tion .—Owns canal from Coalport to Eas­
City, the $2,000,000 convertible bonds (convertible into stock during
years 1892 to 1895 inclusive) were issued. See application to New ton, Penn., 48 miles, and Teases Delaware Division Canal, 60 miles.




148




INVESTORS’

SUPPLEMENT.

V ol .

lu

.

Mat , 1891.]

MISCELLANEOUS

STOCKS AN D

BONDS-

149

Subscribers w i ll confer a great fa v o r by g iv in g Im m ed iate notice o f any error discovered In these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
MISCELLANEOUS.
pal,^When Due.
Date Size, or
Amount Rate Per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes on
Outstanding Cent. Payable
Dividend.
Whom.
Bonds Value.
first page of tables.
Lehigh Coal < Navigation—Stock..............— ...............
£
IstM ., canal, 6,030acres coal and76m. L. & S. R R — r
1st mort., Leh. & Sus. RR. Mauch Chunk to Easton— r
2d M. on Can. Coal & RR. and 1st M. Nant. RR., 26 m. .c*
Cons. 3d M. Canal, Coal & 122 m. RR.; 2d M. 26 m. R R ..
Greenwood, 2d on 1,254 acres coal land (ext’nded,’77). .r
General mortgage for $15,000,000, gold.......................-r
Lehigh a Wilkem're Coal—Leh.Coal&Nav.M.,g., assumed.
Lehigh Coal & Navigation mort.convert, gold,assumed..
Sterling loan, sinking fund, drawn at 100.......................c
Consol, mort. ($6,116,000 income held by Cent. N. J.).c
Sundry real estate mortgages........ — - - ....................0
5s of 1912, cumulative sinking fund (not drawn) . . . . . . . c
Income “ B ” bonds, not cumulative, held by Cent. N.J.
Madison Square Garden—1st mortgage, gold..................c
Maryland Coal—Stock.................................v - •- i&i............ :
1st M., drawn at 100 (s. f. has retired $110,000) — . .c
MaxwellLd. Or.—Pr’r lienbds.g.,red.atlOO (orllOatm at.)c
Metropolitan Tel. dkTeleg. C o—1st M., g.,s.f. (notdr’n) .c&r
Mexican Telegraph—Stock............................................ ' • « »
Minneapolis Street B y —1st mort., redeem, yearly at 105.
Mortgage, 1883..................................................... - ........
1st consol, mortgage, gold............................................c <
fcr
Minnesota Iron Co.—S tock .............................................----Morris Canal—Stock, consol., 4 p.c. gu. 99 yrs. by Leh. V.
Preferred stock, 10 p.c. guar. 999 yrs. by Lehigh Valley
1st mortgage........................................................................c

1864
1867
1867
1871
1872
1884
1867
1869
1874
1875
1888
1889
1888
1888
1880
1889

76-’85

$50 $14,315,700
5,000,000
Various
2,000,000
Various
1.843.000
500 &c.
2.466.000
1,000
643.000
1,000
2.785.000
1,000
500.000
500 &c.
658.000
500 &c.
1.110.000
£200
1,000 11,500,000
235,646
2.872.000
1,000
2.353.000
1.250.000
l ’ ÓÒ
’O
4.200.000
100
140.000
1,000
2.500.000
500
2,000,000
1,000
2,000,000
100
391.000
100
600.000
3.093.000
l ’ ÒO
O
14,000,000
100
1.025.000
100
1.175.000
100
1,000,000
1,000

Also owns Lehigh & Susquehanna Railroad, Phiffipsburg, N. J., to Union
Junction, Pa., 105 miles, with branches, 56 miles, and leases for 999
years Nesquehoning Valley Railroad, 17 miles; Trescow Railroad, 7
miles; other lines, 17 miles; total, 202 miles; but all these roads are leased
for 999 years from 1871 to Central of New Jersey Railroad, rental be
ing 33 % per cent of gross earnings, with a minimum rental of $1,414,
400.
The Central Railroad of New Jersey assumed (m purchase of equip?
ment) $2,310,000 of the gold loan due 1897, and the Lehigh & Wilkesbarre Coal Company assumed $500,000 of the gold loan due 1897 and
$660,500 (all) of the convertible gold loan due 1894, additional to
amounts in table above. The general mortgage of 1884 (trustee, Fidel­
ity Insurance Company of Philadelphia) covers, subject to prior bonds,
7,460 acres coal land, 48 miles canal and 161 miles railroad, estimated
in 1884 as together worth $25,278,000; bonds are reserved to retire all
prior issues not assumed by other companies. Securities owned by com­
pany are putin balance sheet as equal to $3,876,806.
Dividends since 1880—In 1881, 2 per cen t; in 1882, 4 ; in 1883, 5*2 ;
in 1884, 6 ; in 1885, 5*2 ; in 1886, 4 *2 ; in 1 8 8 7,4 ; in 1888, 4 * ; in 1889,
2
5 ; in 1890, June, 2 ^ ; December, 2 ^ ; in 1891, May 25, 2^.
Report for 1890 was in Chronicle , V. 52, p. 320.
1888.
1889.
1890.
Beceipts—
$
$
$
,
From railroads and Nesque. Tunnel... 1,804,783 1,816,436 1,766,174
Canals.............................
43,201
48,494
45,518
Net profit on Lehigh Coal....................... 358,968
204,563
148,049
Royalty on coal mined, &c.....................
46,712
83,771
105,308
Total receipts.................................... 2,253,664 2,153,264 2,065,049
Interest, rentals, taxes, &c.................... 1,182,749 1,161,096 1,140,121
Balance of earnings......................... 1,070,915
Less sink. fd. of 10 p. c. p. ton on coal.
92,101
Less deprec’n on coal iinprov’m’ts, &c. 282,002

992,168
118,242
105,911

924,928
99,150
107,533

Total...................................................... 374,103
Surplus for year....................................... 696,812
Balance to credit of div’dfu nd Jan. 1. 646,745

224,153
768,015
766,691

206,683
718,445
893,513

Total................................................. ..1,343,557 1,534,706 1,611,758
Dividends............................................(4^)576,866 (5)641,193 (5)714,484
Balance to credit of div’d fund Dec.31. 766,691
893,513
897,274
—(V. 48, p. 2 4 9 ; V, 49, p. 530; V. 50, p. 2 7 4 ; V. 52, p. 320.)
L e h ig h & W lllc e s h a r r e C o a l.—This company is controlled by
the Central RR. of New Jersey through ownership of a majority of the
stock ; also owns $6,116,000of the consolidated mortgage bonds, which
receive interest if earned, and $2,353,000 of the income bonds. Stock is
$9,225,000; past due coupons of consols held by Central New Jersey,
$3,630,107. A sinking fund for the redemption at maturity of the
bonds due 1912 is provided from sales of surface lands and from pay­
ment of 10 cents for each ton of coal mined on property included in
the first lien.
, ,
--¿»'dll
The annual report for 1890 was in V. 52, p. 533, and showed total
receipts of $8,516,716; net over operating expenses, $827,913, (agst.
$1,446,192 in 1889); interest, bills payable, sinking fund charges,
$963,134; balance, deficit, $135,220. Included in operating expenses
in 1890 was $116,191 for disasters at collieries. (V. 48, p. 2 9 0 , 562,
800; V. 50, p. 3 1 2 , 589; V. 52, p. 5 3 3 , 680.)
M a d iso n Square G arden.—Owns in fee the block of land in New
York City bounded by Madison and Fourth avenues and 26th and 27th
streets, together with building thereon, containing theatre, amphi­
theatre, etc. Stock, $2,000,000. There is a second mortgage for
$750,000.
M a ryla n d Coal Co.—Controls 6,000 acres of land in Alleghany
and Garrett countids, Md. In 1890 produced 357,117 tons of coal,
against $268,438 in 1889. In 1890 net earnings over expenses
and taxes were $96,304. In 1890 company purchased and canceled
$200,000 of its stock. Dividends: In 1890 (December 15) paid 1*2 per
cent—first dividend since 1876. (V. 51, p. 645; V. 52, p. 23 8 .)
M a x w e ll L a n d G rant C om pan y.—Owns 1,714,764 acres in
Colorado and New Mexico containing coal, timber and land fit for
razing and agricultural purposes. (See map in Supplem ent of March,
889, and prior issues.) The estate is traversed by the Atchison Topeka
& Santa Fe Railroad from north to south, and the U. P. Denver & Gulf
Railroad. The prior lien bonds are authorized for $3,000,000, payable
at 110 at maturity, or redeemable at par from proceeds of land sales.
The income mortgage (£1,000,000) bonds are deposited as collateral
security for the first mortgage bonds. Stock, £950,000. The manage­
ment of the property, until the date when all prior lien bonds will be
paid off, is placed in the hands of a board of trustees. In 1890 land
sales 18,409 acres, for $151,938. In 1889, sales 26,399 acres, for about
$170,818. Assets in land and cattle estimated at $14,020,000. Presi­
dent Board of Trustees, R. V. Martinsen, 46 Broadway, N. Y. See ad­
vertisement in Ch ronicle of March 3,1888. (V. 52, p. 463.)
M etro p olita n T elep hon e & T elegraph C om p an y.—This
company has exclusive rights under a perpetual license from the Bell
Telephone Company to the business of furnishing telephone service
within the city of New York and its suburbs, its territory having a
radius of 33 miles from the City Hall in all directions. Its stock is con­
trolled by the American Bell Telephone Company. A sinking fund of

?




May 25,1891
July 1, 1914
Feb. 1, 1897
Dec. 15,18 9 7
June 1, 1911
Feb. 1, 1892"
May 1, 1924
Dec. 15,1897"
Sept. 1, 1894
May 1, 189»
June 1, 1900

M. & N. Philadelphia, Office,
do
do
Q .-J .
do
do
Q .-F .
do
do
J. & D.
J. & D.
do
do
do
do
F. & A.
7
do
do
4 12g. Q.—F.
6 g. J. & D. Phila., L. Coal & Nav. Co,
do
do
M. & S.
6 g.
M. & N. New York and London,
6
Q .-M .
do
do
7
New York and London,
6
M. & N.
do
do
5

Nov. 1, 1912

5 g- M. & N.
1*2
M. & N.
7
6 g. J. & J.
5 g. M. & N.
Q .-J .
2*2
M. & N.
7
M. & N.
6
5 g. J.15 &J.
Q .-J .
1*3
F. & A.
2
F. & A.
5
A. & O.
7

Nov. 1, 1 9 1 »
Dec. 1 5 ,1890»
Nov. 1, 1 8 9 »
Jan. 1, 1 9 1 »
May 1, 1918
Apr. 8, 189A
Nov. 1, 1 9 1 »
Nov. 1, 1913
Jan. 15, 1919Apr. 1, 1891
Feb., 1891
Feb., 1891
Apr. 1, 1 9 0 »

2^2
4^2
6

N. Y., Merc. Trust Co.
New York, 35 B’dway.
do
do
N. Y., Lond. & Ams’dam.
N. Y., 18 Cortlandt St.
N. Y., Office, 37 Wall St.
N. Y., Farm. L. & Tr. Co.
do
do
do
do
N. Y., Mills Building.
Leh. Val.RR. Co., Phila.
do
do
do
do

one per cent purchases bonds, if possible, at 110, otherwise to be in­
vested in other securities. Trustee of mortgage is Mercantile Trust
Company. Western Union Telegraph Company owns $800,000 of the$3,000,000 stock (par, $100.) Dividends o f at least 8 per cent per an­
num (payable quarterly, January,) have been paid since 1882. (V. 51,.
p. 494.)
M exican T e le g r a p h .—Company organized in 1878 under laws o r
New York State. Has a cable from Galveston to Tampico and Yera Cruz,.
738 m iles; land line, Yera Cruz to Mexico City, 267 miles. Has exclus­
ive right for 50 years for all foreign telegrams to Mexico, except tele­
grams to and from a neutral zone on the United States border 156 mile»
wide, between the Gulf and Pacific Ocean. Stock was increased to$2,000,000 in February, 1890.
,
Dividends—In 1882 to 1886, inclusive, 8 per cent yearly; from 1887
to April, 1891, both inclusive, at rate of 10 per cent per annum.
Companv owns 1.362 shares of the Central & South American Telegraph
Co. G r o s s earnings in 1889, $370,102; net, $299,871, against $253,578in 1888. J. A. Scrymser, President, New York. (V. 50, p. 71, 245.)
M in n esota Ir o n Co.—Owns about 14,270 acres of land and s ix
iron mines in St. Louis and Lake counties, Minnesota. Owns also $500,000 stock, $400,000 1st mortgage bonds and $3,500,000 6 per-cent
income certificates of Duluth & Iron Range RR. Co. First dividend,,
l i « per cent, paid July 1,1890. October 1 paid 1*2 per cen t; in 1891,.
Jan. 2 , 1*2 per cent; April 1 , 1*2. Offices, Mills Building, New Y ork,
and Chicago.
M in n ea p o lis Street R a ilw a y .—(See Map.)—'This company ha»
the exclusive right till July 1,1923, of operating street railways m the
eity of* Minneapolis. It has in operation 87 miles-of track, and own®
real estate valued at $1,100,000, and equipment valued at $1,000,000,
all of which property is covered by the mortgage of 1890. (See fu ll
abstract of deed in C h r o n i c l e , V. 52, p. 356.) The bonds are shortlyto be listed on the N. Y. Stock Exchange. The company has the
right to run its cars by cable, electricity, horse power or otherwise.
It owns the entire stock of the Minneapolis Lyndale & Minnetonka
Railway Company, which joined in making the mortgage, and on w hose
property the mortgage is a first lien. On December 9th, 1890, the new
electric road was opened for travel between the cities of St. Paul and
Minneapolis. The Minneapolis Street Railway Co. receives one-half o f
the earnings of this road by virtue of its ownership of the portion o f
the line situated within the city limits of Minneapolis.
From January 1 to May 14, 1891 (4*2 months), gross earnings were?
$317,234. From January 1 to February 28, 1891 (2 months), gross
earnings were $132,874; net, $48,000, against $12,106 in 1890; inter­
est accrued, $36,441; surplus, $11,558.
- -J&
OK/_
J. Kennedy Tod & Co., fiscal agents, New York City.—(V. 52, p. 350,
356, 534, 642.)
M o rris C a n a l.—Leased April, 1871, to Lehigh Valley RR. for 999
years. The lessees assume bonds and scrip, and pay 10 per cent p er
annum on preferred stock and 4 per cent on consolidated stock. In
1889 the Lehigh Valley ceased operating the canal, which will hereafter
be used for water supply, (-see V. 48, p. 100,159.)
N ation al C ordage.—Organized under the laws of the State of New
Jersey for the importation of hemp and the manufacture and sale of
cordage. It has acquired in fee the cordage properties of L. Waterbury
& Co., of Brooklyn, N. Y., the Elizabethport Cordage Company of New
Jersey, the Xenia Twine & Cordage Company of Ohio, J. Rinek’ s Son»
of Easton, Pa., the Akron Twine & Cordage Company of Ohio, William
Wall’s Sons and the Tucker & Carter Cordage Company, both of Brook­
lyn. In April, 1891, it was reported that the Sewell & Day Cordage
Company of Boston had been acquired for cash. See V. 52, p. 642.
In addition it leases the properties of the Viotoria Cordage Company
of Dayton, K y„ of H. R. Lewis & Co., of Philadelphia, and Randall,
Goodale & Co., oFBoston. The preferred stock is 8 per cent cumula­
tive, and has preference as to principal as well dividends. No mort­
gage or bonded debt can be created except with the consent of 80 p e r
cent of the preferred stock. See Y. 52, p. 204, 279. Dividends o a
common stock : (In 1891, May 1,4. Dividends on preferred: In 1891,
2 per cent quarterly. President, James M. Waterbury. New York of—
fice, 132 Front Street. (V. 52, p. 204, 279, 642.)
N a t io n a l L e a d T r u s t .—This organization controls a majority 0f
the stock of thirty-one different companies, including three smelter»
and one refinery for tlie production of pig lead. The stock so controlled
is in the hands of the following trustees: S. Beymer, L. A. Cole,
R. R. Colgate, A. T. Goshorn, F. W. Rockwell, D. B. Shipman, A. P.
Thompson, W. H. Thompson and W. P. Thompson. The report of Presi­
dent W. P. Thompson for the year ending January 31,1891, (C h r o n ­
i c l e , V. 52, p. 237) gave the Trust’s assets as follow s: Plant, $17,992,989; other investments, $459,235 ; net working capital, $5,765,414 ?
other net assets, $1,142,486; total, $25,360,124, against $22,361J)0Q
on Jan. 31,1890. Net earnings in year 1890-91 were $2,028,552. First
dividend (50 cents per share) payable April 15,1891; July 15, J of 1.
2
Price of certificates—In 1889, 17® 35; in 1890 14is@24L2; in 1891,.
to May 22, inclusive, 17x
8'g)21:ls. (V. 50, p. 206; V. 52, p. 237.)
N ation al Linseed O il.—This company, incorporated i n - 1899
under the laws of Illinois, has acquired all the property of the Linseed
Oil Trust, consisting of the real estate, machinery, patents, etc., of 52"
oil works situated in 42 cities of the United States, includingChicago, St. Louis, Minneapolis, etc. Its product is both linseed oil and oil
cake-used f or stock food and fertilizer—and it is said to employ in th »
manufacture of these from 60 to 70 per cent of the country’s annual
crop (of ten to thirteen million bushels) of flaxseed. In year ending
June 30,1890, net earnings were $1,201,405, or equal to 6*67 per cenx

150

INVESTORS»

[V ol. U I .

SUPPLEMENT.

Subscribers w i ll confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In tbese T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
MISCELLANEOUS.
pal,When Due.
Date Size, or
Amount Rate Per When Where Payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes on of
Dividend.
Whom.
Bonds Value. Outstanding Cent. Payable
first page of tables.
National Cordage—Common stock...................................
Preferred, 8 per cent, cumulative.................................
National Lead Trust—Certificates.................................. .
National Linseed Oil—Stock...................... , .....................
National Starch—Common Stook......................................
1st preference stock, cumulative, 8 per cent...............
2d preference stock, cumulative, 12 per cent.............
1890
1st mortgage, gold................ ..........................................
New Central Coal—Stock.................................... . . . . . ........
New England Telephone < Telegraph—Stook....................
£
Bonds, 1st and 2d Series, each $500,000.........................c ' 89-’90
Bonds, 3d Series, subject to call after April 1,1901,at 102 1891
New England T er—1st M., $800,000, g., drawn at 110. .c 1889
N. F. Mutual Tel.—Mutual Un. Tel. IstM ., g.,gu.,notdr’n .c 1881
N. T. < Perrg Coal Iron Co.—Stook........ .......... ....... . . . . .
£
1st mortgage, gold, sinking fund—not subject to call, .c 189Ò
N. T. a Texas Land (Limited)—Stock........ .....................
North American—Stock for $50,000,000................................|
North Hudson County ( Street) B'y—Cons. M. ($3,000,000) c*. •1888
Northwest Equipment—Stock........ .......... .............................
Northwestern lei.—Stock, 4 rising to 6 p.c., guar. West.UnJ
1st mort., sink, fund, bonds not drawn, interest guar.c*i 1874
Oregon Improvement Co.—Stock, com m on ........................ .
Preferred stock, 7 per cent, non-cumulative....................
IstM ., g.,s.f. 1 p.c. yrlv.,red.atlO O ifnotpurch.atl06.c 1880
Consol, mortgage for $15,000,000......
c*. 1889
Pacific Mail Steamship—Stook........................... ..................
Pennsylvania Coal—S tock ................................................----I
Peoria Water—I s t M., g., red. aft. Nov. 1,1899, at 105.c*. 1889

4
$100 $10,000,000
5.000.
000 2
100
50 c.
89.447.600
1
Too 18,000,000
1
5.000. 000
100
3.000.
000 4
100
6
2.500.000
100
1,000
4.500.000
6 g.
100
5.000.
000
75 c.
100 10.394.600
1.000.
000 6
1,000
6
500.000
1,000
5 g.
700.000
1,000
6 g.
1.978.000
1,000
3.000.
000
100
600.000
1,000
1.500.000
50
f e
100 38,642,500
s’
1,000
1.800.000
100
3.000.
000 1*2
208
50
2.500.000
7
500
1.180.000
100
7.000.
000 1
100
3V
M
5.000.
000 6 g.
1,000
5
5.991.000
1,000
1
100 20,000,000
5.000.
000 4
50
1.039.000
1,000
6 g.

N. Y., 132 Front Street.
do
do
N. Y., Office, 1 B’dway.
Chicago. Office.
N. Y. Office 298 South St.
do
do
do
do
N.Y.,ChaseNationalBk.
New York Office.
Boston, 50 Pearl St.
Boston.Bank of Repub.
do
do
N. Y., Farm. L. & Tr. Co,
N. Y., West. Union Tel.
New York, 2 Wall St.
do
do
N. Y.,J. S. Wetmore2W all

May 1, 1891
May 1, 1891
July 15.1891
May 1, 1891
Mch. 14.1891
May 1, 1891
Jan. 2, 1891
May 1, 1920
Feb. 4,1891
May 15.1891
Apr. ’ 99-1900
Apr. 1, 1906
Feb. 1, 1909
May 1, 1911
Feb. 10,1888
May 1, 1920
(Î)

J. & J Hoboken,N.J. IstN.Bk.
Q.—F. N. Y., Office, 36 Wall St.
J. & J N. Y., West. Un. Tel. Co.
do
do
J. & J
N. Y;, Mills Building,
do
do
M. & S.
J. & D N. Y., Farm. L &. Tr. Co.
do
do
A. & O

1, 1928
1, 1891
1, 1891
1, 1904
1, 1890
2, 1890
1, 1910
1, 1939
15,1887
1, 1891
1, 1919

M. & N.
0 .-F .
Q .-J .
Q .-F .
Q .-M .
M. & N.
J. & J.
M. & N.
Q .-F .
A. & O.
A. & O
F. & A
M. & N
M. & N

July
May
Jan.
Jan.
Aug.
Sept.
Dec.
Oct.
Sept,
Q.—F. New York, 1 Broadway. May
M. & N, N. Y., Atlantic Tr. Co. Nov.

N orth w est E q u ip m e n t.—Owns railroad equipment costing $3»*
on stock. Stock listed in New York in September, 1890. Dividend
in 1890 2 per cen t; in 1891, Feb. 1 ,1 ; May 1,1. President, Alexander 000,000, leased to the Northern Pacific Railroad. The rental is 7 per
cent per annum on the cost of the equipment and 10 per cent yearly to
Euston, Chicago, 111. See full statement in Ch ronicle , V. 51, p. 348.
the sinking fund. October 1, 1898, when the lease terminates, the
N ation al Starch .—Incorporated in February, 1890, under the laws Equipment Company will be paid out of this sinking fund the original
o f Kentucky, and owns properties capable of producing from 230 to 240 cost of the equipment, which will then become the property o f the
million prounds of starch yearly. The nineteen concerns which it ab­ lessee. See statement to New York Stock Exchange in full in Ch r o n i ­
sorbed were located in the States of New York, Ohio, Indiana, Illinois, c le , V. 50, p. 73. Stock paid in February, 1890,
per c e n t; in May,
Iowa and Kansas. The preference stocks have preference as to princi­ lLj; in August, 1^2; in November, IV , in 1891, February, 2»s; May, I V
pal as well as dividends. The bonds were issued at a rate not exceed­
N orth w estern T eleg ra p h .—Owns 8,000 miles of wire and is
ing 75 per cent of the company’ s real estate, and the bonds and the pref­ leased to Western Union for 99 years, with guaranteed dividends, rising
erence stocks together represent tangible, real and personal property
per cent a year to 6 in 1897" and afterward. The bond interest is
purchased on a cash basis. The good will of the concerns, &c., is repre­ guaranteed.
sented by the common stock. The original owners in selling their
O regon Im p ro vem e n t C om p an y .—This company controls the
property to the company contracted not to manufacture starch or glu­
cose independently of this company for a term of five years. Dividends Pacific Coast Steamship Company (owning $1,985,000 of its $2,000,000
on preferred stock have been paid in full to date; common stock paid stock) and operates five steamship lines running between San Fran­
in 1891, March 14,1 per cent. Hiram Duryea, President. New York cisco, Portland, Victoria, Sitka, Fort Bragg, San Diego, &c. Also owns
all the securities of the Columbia & Puget Sound Railroad (narrow
office, 298 South Street.
auge), Seattle to Frankton, Wash., and branches, 43 m iles; and the
N ew Central Coal (M d .).—The annual report for 1890, in V. 52,
acme Coast Railway, Port Harford, Cal., to LosAleros, 76 miles. It
p. 202, showed net profits for year of $47,082, against $6,108 in 1889; is also to own entirely the Seattle & Northern R’y, the Port Townsend
and balance to credit of profit and loss December 31,1890, of $248,654, Southern RR. under construction from Port Townsend to Olympia,Wash.,
against $213,321 December 31,1889. Dividends since 1880—In 1881, 111 miles; the Olympia & Chehalis Valley Ry., Olympia to Tenino, Wash,,
U per ce n t; in 1882 and 1883, n il; in 1 8 8 4,1 ; in 1885, n il; from 1886 ington, 15 miles. The total amount advanced to these latter com­
to 1888 inclusive, 1 per cent yearly; in 1891,1. (V. 50, p. 2 4 3 ; V. 52, panies to October, 1890, was about $1,200,000, and in consideration
p. 2 0 2 .)
therefor the Oregon Improvement receives in addition to their stock
N ew E n g la n d T elep hon e 6c T eleg ra p h .—This company does a land subsidies valued at $3,000,000 to $5,000,000; about $500,000 o f
telephone business in Maine, New Hampshire, Vermont and Massachu­ these lands have been sold. (See V. 51, p. 570,747.) Company also has
setts under license from the American Bell Telephone Co. On January some 3,688 acres coal land between Cascade Mountain and Puget Sound.
Default was made in Deo. 1890, on 1st mort. coupons, and Joseph
1,1890, it had 17,275 subscribers and exchange offices in 91 cities or
villages. Stock $12,000,000, of which, on January 1,1890, $1,605,000 Simon was appointed receiver. A change in the management fol­
was in the treasury. The bonds were issued for improvements, placing lowed, Mr. W. H. Starbuek became President, the receiver was dis­
charged, and the overdue coupons were paid. See V. 52, p. 351.
the wires underground, etc.
In February, 1891, $4,000,000 consols were offered to stockholders
Dividends—In 1886 and since at rate of 3 ^ per cent per annum,
three dividends yearly being for 75 cents, and one (paid February 15, at 70. It is said that the first mortgage bonds are soon to be called for
in 1891) for $1-25. In 1889 gross earnings were $1,255,570; net, redemption. In April, 1891, the company gave notice that it was pre­
pared, as per circular of November, 1890, to receive its pref. stock in
$298,265, against $270,727 in 1888.
N ew E n g la n d T e rm in a l C om p an y.—A transportation line from exchange for consolidated mortgage 5 per cent bonds on the basis o f
Wilson’s Pomt, Bridgeport or other points on Long Island Sound to New 105 ana accrued dividend for its preferred stock and 90 and accrued
York. The mortgage covers all the property of the company, including interest for the consolidated mortgage bonds. See V. 52, p. 321, 643,
™
real estate and dock property in New York. The New York & New Eng­ and references below.
Of the 1st mortgage bonds given in table as outstanding, $486,000
land and the Housatonic Railroad by endorsement guarantee interest
and the payment of $15,000 annually from 1890 to 1899, inclusive, for are in the «inking fund, but draw interest. Under the consolidated
sinking fund, and $48,000,1900 to 1909, inclusive. Stock, $200,000 j mortgage for $15,000,000 (trustee, Farmers’ Loan & Trust Co.), bonds
are reserved to retire the preferred stock and the first mortgage bonds
par, $100.
not in the sinking fund. See V. 49, p. 540.
$
N ew Y o r k m u tu a l T eleg ra p h .—Successor to the Mutual Union
Dividends on preferred stock (issued in 1888)—In 1888, 3 kj; in 1889
Telegraph Company. The stock carries dividends of 6 per cent per an­ and since, at rate of 7 per cent yearly. On common—In 1883,7*a; ia
num under a lease for 99 years from February 15, 1883, to Western 1888,1*2; in 1889, 4 ^ ; in 1890, in February, May and August, each 1
Union Telegraph. The Western Union gives its collateral, trust bonds per cen t; in November passed the dividend. See V. 51, p. 570.
in exchange at par for the stock and bonds of this company.
From January 1 to March 31,1891 (3 months), gross earnings were
N ew Y o r k 6c Perry Coal 6c Ir o n C om p an y.—Owns 640 acres, $919,988, against $953,870 in 1890; net, $136,891, against $49,425.
Fiscal year ends November 30. Report for 1888-89 was in V. 50, p.
controls 800 acres and leases 430 acres of coal and iron land in Hocking
Valley region at Shawnee, Perry County, O. Has five coal mines and 481.
EARNINGS OF ALL DEPARTMENTS.
-w o blast furnaces. The assets, as per balance sheet on Jan. 22,1891,
were $3,791,823. For full statement to New York Stock Exchange on
Departments—
Gross earnings. Net earnings.
Tan. 22,1891, see V. 52, p. 206. Dividends—In 1887, 4 ^ per cent; in Pacific Coast Steamship Company.—
1888,1. (V. ¿8, p. 39.) Office, 2 Wall Street, N. Y. (V. 52, p. 204,206.
$142,530
Company’ s own vessels...............- ...........$1,561,419
268,199
Oregon Improvement Co.’s vessels........ 1,448,947
N ew Y o r k 6c T ex a s L a n d .—This company took the lands granted
86,319
to the International and Houston & Great Northern railroads, about Pacific Coast Railway............
185,376
172,244
382,258
5,000,000 acres. On June 30,1888, had 2,287,497 acres unsold. There Columbia & Puget Sound Railroad............
82,068
is $980,000 of land scrip receivable for lands at 75 per cent of its face.
Coal department...........................................
650,122
34,205
133,532
N orth A m erican C om p an y.—This company was organized in Wharf, steam colliers, etc............................
Loss 62,337
.......
1890 under the laws of the State of New Jersey as the successor to the General expenses----- -------- -------- -—
Oregon & Trans-Continental Company in liquidation. It purchased
$723,228
Total 1889............................................... $4,361,659
all the assets of the Oregon & Trans-Continental, among which were in­
733,842
Total 1890................................................................ .
cluded on July 1,1890, Northern Pacific common stock, $21,015,100;
preferred stock, $12,743,000; consolidated 5s, $1,900,000; consolidated
$10,614
Increase.............. - ...........................
............
5s, 50 per cent paid, $2,152,078. There was a considerable floating debt;
but in November, 1890, this was largely reduced, as were also the securi­ —(V. 50, p. 139, 4 8 1 , 525; V. 51, p. 570, 715, 747, 788; V. 52, p. 81»
121,165, 238,321, 351, 428,643.)
ties owned, see V. 51, p. 680.
'
„
, ,
On December 5,1890, the assets were reported as follow s: Marketa
Pacific M a il Steam sh ip .—The trans-Continental railroads give
ble securities at current quotations and cash on hand, $4,275,575; bills
receivable, amply secured by collateral, $1,100,389; other assets, cash to this steamship company a guaranty of $75,000 minimum per month
Value, $2,625,036; •total assets, $8,000,000. Liabilities—Bills payable, for space taken in its steamers, in consideration of the maintenance of
time loans secured by collateral showing 38 73-100 margin, $1,928,456; agreed rates. In March, 1891, Congress passed a subsidy law, which, it
is said will bring this company a considerable income. See V. 52,p.391.
balance of assets, $6,071.544. See V. 51, p. 830.
Dividends since 1880—In 1884,3% per cent; in 1885, 5 ; in 1886, lH ;
The company was to operate in two special fields—one that of railroad
financiering; the other that of promoting electric light and power enter­ in 1887,1; in 1888 and since, nil.
Fiscal year ends April 30; report for 1889-90 was in V. 50, p. 768.
prises It was expected to have close affiliation with certain electric com­
1886-87.
1887-88. 1888-89. 1889-90.
panies. See V. 50, p. 875. Authorized capital, $50,000,000, of which
$
$
$
$
only $40,000,000 is issued at present, this having been exchanged, share
807,012
777,435 683,488
for share, for stock of the Oregon & Trans-Continental. Price of stock Atlantic lines...................... 766,080
in 1890, 7 ® 4 7 ^ ; in 1891, to May 22, inclusive, 11%® 1914. (V. 50, p. Panama lines .................... 1,368,882 1,778,275 2,006,894 2,186,352
Trans-Pacific line.............. 1,282,317 1,334,384 1,201,580 942,143
875 ; V. 51, p. 52, 207, 241, 680, 715, 788. 830.)
101,334
101,633
100,267 103,000
N orth H u d so n County (Street) H a llw a y .—Owns 32 miles of Subsidies
70,904
16,712
32,138
17,094
street railway and elevated cable lines, operated by steam and horse Interest and dividends.......
M s S n e o u s ™ ..............
43’,854
40’,532
42,743 133,591
power, in Hoboken, N. J., and vicinity. Has outstanding $625,000 of
6 per cents due January, 1914, for which a like amount of consols is
Total
......................... 3,633,371 4,078,547 4,161,057 4,065,668
reserved. Remainder of consolidated 5s can oniy be used for exten­
3,337,833 3,638-510 3,666,162 3,555,118
sions or new property. Stock, $477,400. In 1890 gross earnings E xp en ses!..................
were $641,005; net over operating expenses, $211,184; dividends, 8
295,533
440,428
494,895 510,550
Net earnings.......... .
pfer cent.




f

Ma y , 1891.J




MISCELLANEOUS

STOCKS

AN D

BONDS.

151

INVESTORS’

1& 2

SUPPLEMENT.

[V ol .

LU.

Subscribers w i ll confer a great fa v o r by g iv in g Im m ed iate notice o f a n y error discovered In these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
MISCELLANEOUS.
pal,When Duei
Date Size, or
Amount Rate Per When Where Payable, and by ¡Stocks—Last
Par
o r explanation of column headings, &c., see notes on of
Outstanding Cent. Payable
Whom.
Dividend.
Bonds Value.
first page of tables.
Philadelphia Company—(Natural Gas) Stock.....................
1st mortgage, sinking fund $250,000 yearly,not drawn, o*
Postal Telegraph table Co.—Stock.........................................
Poughkeepsie Bridge—lstm ort., gold...............................c*
Proctor A Gamble—Stock ($2,250,000 is 8 p. c. preferred)
Pullman Palace Car—Stock....................................................
Bonds, 4th series.................................. ...............................
.Quicksilver Mining—Common stock.....................................
Preferred 7 per cent stock, not cumulative.....................
St. Louis Merchants' Bridge A Ter.—1st M., for $3,500,000
Southern A Atlantic Telegraph—Stock (guar. 5 per cent) ..
Southern Colton Oil—Stock....................................................
Sterling Iron A B’y.—Mort. bonds, ine.,7 p. c., series “ B.” .c
Plain income bonds, 6 per cent.........................................o
Sterling Mountain R’y.—1st mort. income, 7 p. c. guar.
Stnn. Coal I. A BB. Co.—Stock. ($1,000,000 is pf. 8% cum.)
(Pracy City 1st and 2d mortgages.......................................
Consolidated mortgage.....................................................
.■South Pittsburg Purchase, 1st m ortgage........................
Alice Furnace Co., Alabama, 1st mortgage..................o*
Pratt Coal & Iron Co., Ala., 1st M., s. f., not drawn. ...c*
Birmingham. Ala., Div., con.M., g., s. f. 1%, not d’rn..c*
Tennessee Div. bds, gold, s.f. 1* % yearly, not dr’n .. .c*
2
Terminal Railroad Association—First mort., gold ......... c*
.St. Louis Bridge & Tun. KR. 1st pref. stock, guaranteed.
2d preferred stock, guaranteed......................................
1st mortgage................................................................. c*
Tunnel Railroad of St. Louis, stock, guaranteed...........

Pittsburg,820 Penn Av.
2
$7,500,000
J. & D. N. Y. City, Merc. Tr. Co.
6
480,000
10,000,000
5,000,000
1,000
6 g. F. & A. Aug., ’ 90, coup, last pd.
1886
4,500,000 2 on pfd. Q .-J . N.Y., A. M. Kidder & Co.
100
Q-—F. N. Y., Farm. L. & Tr. Co.
2
100 25,000,000
do
do
A. & O.
820,000
8
1,000
1872
40 c.
5,708,700
100
N. Y., Of., 20 Nassau St.
4,291,300
100
1*4
.......
5
(1)
1890
948,875
25
2*3 A. & O. N. Y., West. Union Tel.
Philadelphia, Office.
4
4,000,000
100
Feb. 1 N. Y., Office, 45 Wm. St.
1
418,000
1880 500 &c.
Feb. 1
495,575
1,000
1876
N. Y., Office, 45 Wm. St.
1
475,674
1,000
1881
100 10,000,000 4 on pfd. J. & J. N. Y., Kountze Bros.
New York City.
A. & O.
6
170,200
1879 200 ! &c.
M. & N. N. Y., Mechanics’ Bank.
6
36,000
1,000
1881
do
do
F. & A.
6
123,000
1882- i;o o o
do
do
A. & O.
300,000
7
1,000
1882
do
do
M. & N.
705,000
7
1,000
1883
3.460.000
1,000
6 g. J. & J. N. Y. Hanover Nat. B’k
1887
N.Y.,4th National B ank
1.400.000
1,000
6 g. A. & O.
1887
4*ag. A. & O. N. Y., Central Trust Co.
7,000,000
1,000
1889
J. & J. N. Y., Drexel, M. & Co.
3
2,490,000
100
do
do
3,000,000
1*3 J. & J.
100
5;ooo;ooo
7 g- A. & O. New York and London.
1,000
1879
J. & J. N. Y., Drexel, M. & Co.
3
1,250,000

1888

$50
1,000

No balance sheet is given in the annual report. J. B. Houston, Presi­
dent. (V. 49, p. 207, 341; V. 50, p. 590, 7 6 8 , 771; V. 51, p. 172, 207,
.646, 721; V. 52, p. 391.)
P en n sy lv an ia C oal.—Dividends since 1880—In 1881,15 per cen t;
from 1882 to 1890 inclusive, at rate of 16 per cent yearly; in 1891, Feb­
ruary 2, 4 per cent; May 1, 4.
P eoria W a te r .—Owns water works at Peoria, 111., purchased from
>the city in 1889, on the agreement that they should be enlarged and
improved. See full statement with description of property in Chron­
ic l e , V. 52, p. 535. The mortgage is for $2,000,000, and of the bonds
vemaining unissued $295,000 are held to retire a like amount of city
w a ter bonds. Stock, $1,000,000; par, $100.
P h ila d e lp h ia C om p an y.—In 1887 the Chartiers Company was
leased for 99 years at a rental which is now 24‘8 per cent of Philadel­
ph ia Company’s net earnings monthly. The Philadelphia Company
.controls the natural gas production about Pittsburg and vicinity,
ow ning or leasing 40,582 acres gas territory and 697 miles of pipes.
In year ending March 31,1891, gross earnings were $2,873.339; net,
^51,148,163; surplus over dividends (6 per cent), $698,163. On March
3 1 ,18 9 1 , there was due for construction $528,0^0, payable $30,000
monthly. Geo. Westinghouse, Jr., President, Pittsburg, Pa. The Jan­
uary, 1891, dividend was passed.—(Y. 48, p. 6 8 7 ; V. 49, p. 617; Y. 50,
®. 174.)
P o sta l Telegraph Cable.—This company is successor to the
Postal Telegraph Company and Postal Telegraph & Cable Company.
T h e old bonds took new stock for 35 per cent of their face, and the old
«toek 5 per cent of its amount in new. Foreclosure suit begun by Farm­
ers’ Loan & Trust Company November, 1885, and sale took place Janu­
a ry 15,1886. Stock increased in 1890 to $10,000,000 for franchises, ex­
tensions, &c. A. B. Chandler, President, New York. (V. 48, p. 533; V.
bO, p. 423, 703; V. 52, p. 239.)
Pou gh keep sie B rid ge Co.—Owns a railroad bridge across the
Hudson River at Poughkeepsie, with approaches, 3*2 m iles; completed
in December, 1888. Operated by Central New England & Western
<<which see), forming through line from Campbell Hall, N. Y., to Hart­
ford, Conn. The Dutchess County Railroad, to be built in 1891, from
Poughkeepsie to Hopewell, 11 miles, will connect the bridge with
the New York & New England system. In division of earnings with
other roads the Bridge Company is allowed a constructive
¡mileage of 40 miles. In January, 1891, the bondholders were
asked to fund their interest for two yeais into 5 per cent
■debentures, redeemable in ten years, these debentures to take
preference of the floating debt of $420,000. This was agreed to
by holders of $3,300,000 of bonds, and it is therefcr® proposed to
«carry out the plan. Coupons due Feb. 1,1891, were not paid. See V.
$2, p. 121,165, 201, 239, 351, 609. In March, 1891, the company was
authorized by the N. Y. Legislature to issue $5,000,000 of preferred
stock. Capital stock, $5,000,000 (par value, $100) $4,250,000
■of which is held by Delaware & New England, which company owns
also the entire stock of the Central New England & Western. Abstract
•of first mortgage (Mercantile Trust Company, trustee) in V. 45, p. 275.
New York office, 115 Broadway. John S. Wilson, President. (V. 49, p.
<854; V. 50, p. 275; V. 51, p. 457, 876; V. 52, p. 121,165, 204, 239, 351,
-499, 609, 796.)
P u llm a n ’ s P alace Car Co.—The stock has been increased from
4ime to time to provide new capital, as wanted. In January, 1889,
purchased control of the Union Palace Car Company.
Dividends since 1876—From 1877 to 1880 inclusive, 8 per cent; from
1881 to 1883 inclusive, 9*2; from 1884 to May, 1891, both inclusive, at
th e rate of 8 per cent yearly.
Fiscal year ends July 31. Report for 1889-90 was in Chronicle, V.
51, p. 535.
INCOME ACCOUNT.

«
1887-88.
1888-89. 1889-90.
Bevenue^$
$
$
■Earnings (leased lines included).......... 6,259,371 6,825,955 7,473,136
Patent royalties, manuf. profits, & c... 1,250,383 1,477,341 1,387,825
Total revenue.....................

7,509,754 8,303,296 8,860,961

Operattn^expenses............................... 2,506,584 3,070,779 3,274,605
Paid other sleeping-car associations... 1,045,398
920,906 1,022,625
Coupon interest on bonds........ ............ 132,450
79,527
........
Dividends on capital stock................... 1,510,890 1,795,638 2,000,000
Repairs of cars in excess of mileage... 198,870
84,915
100,000
Contingency account............................. 100,000
100,000
100,000
Total disbursements....................... 5,494,192 6,051,765 6,462,830
Net result.............................................. -.2,015,562 2,251,531 2,398,131
— (Y. 51, p. 494, 5 3 5 , 570,719.)
¡Q u ic k s ilv e r M in in g .—Owns quicksilver mines at New Almaden»
Cal. The preferred stock is entitled to 7 per cent per annum, noncumulative, and any surplus goes to the common and preferred equally.
Fiscal year ends April 30. For year 1889-90 net income applicable to
dividends was $195,928, against $131,624 in 1888-89.
Dividends—On common, m 1881, 2*4 per cen t; in 1882, % ; nothing
since. On preferred—In 1881, 9*4; in 1882, 6 ; in 1883, n il; in 1884,
8 ; in 1885, n il; in 1886, 2% ; in 1887, 3 ; in 1888, 6% ; in 1889, 3 ; in
1890, February, 3, 1*3 ; May 1,1*2; August 1, l*a; in 1891, Jan. 2,
l* s ; June 2,1*4. (V. 47, p. 4 9 ; Y. 49, p. 50.)




Oct. 15, 1890
Dec. 1, 1898
Aug. 1, 1936
Apr. 15,1891
May 15,1891
Aug. 15,1892
May, 1882
June 2, 1891
1930
April, 1891
Aug., 1889
Apr. 1, 1894
Oct. 1, 1896
July 7, 1895
Jan. 15, 1891
Apr. 15,1894
Nov. 1, 1901
Feb. 1, 1902
1892-1902
Nov. 1, 1903
Jan. 1, 1917
Jan. 1, 1917
Oct. 1, 1939
Jan., 1891
Jan., 1891
Apr. 1. 1928
Jan. 1, 1891

» liv e r B u llio n Certificates. — The silver bullion certificates
dealt in on the N. Y. Stock Exchange represent each 1,000 ounces of
fine silver bullion deposited with the Mercantile Safe Deposit Co. of New
York City. They are subject to a storage charge of one oent per day per
1,000 ounces. On May 25,1891, the Safe Deposit Company reported
in its possession in trust for outstanding certificates 5,219,591 ounces
of silver bullion.
Southern C otton OH.—This company is organized under the laws
o f the State of New Jersey, and owns eight crushing mills in as many
cities of the South with an aggregate capacity of 1,600 tons of seed
per d a y; also owns 6 refineries, etc. In 1889 paid 12 per cent. See
statement to New York Stock Exchange in full m Chro nicle , V. 49, p.
404. President Henrv C. Butcher.—(V. 49. p. 403, 404.)
Southern 8c A tla n tic .—Lines leased to Western Union and stock
guaranteed by the rental, 5 per cent per annum.
Sterling Ir o n 8c B a ilw a y .—The property of this company, in
Orange County, N. Y. (and a few acres in Rockland), consists o f 25,000
acres of land, with furnaces, &c., having a capacity of 15,000 tons of
pig iron per year and 7*2 miles of railroads, houses, &c. The company
endorses the $471,674 bonds of the Sterling Mountain Railway. Stock
is $2,300,000—par, $50, New York office, 45 William Street, New York.
Sugar Refineries—Sugar T r u s t.—See A m erican S ugar R efin ­
ing

Co m pany .

Tennessee Coal Ir o n 8c B a ilr o a d C om p an y.—(See Map.)—
This company owns blast furnaces, coal mines, iron mines, foundries,
&c., and coal and iron lands in Tennessee and Alabama. The total area
of mineral lands and rights owned by the company is 208,323 acres, of
which 81,998 acres are in Alabama and 126,425 acres are in Tennessee.
Of the latter 58,135‘5 lie in Cocke and Green counties, in the eastern
portion of the State on the borders of North Carolina. See a full state­
ment of the property in V. 44, p. 245. For changes in the directory
in January, 1891, see V. 52, p. 41.
An offer by an English syndicate to buy the company’s Tennessee
property was rejected in May, 1891. See V. 52, p. 643, 718.
The two main bond issues, known as the Birmingham Division and
the Tennessee Division bonds, are each a lien on their own prop­
erty, as described in the mortgage, and a second lien on the property o f
the other division. Of the Tennessee Division bonds given above as
outstanding, $78,000 are held alive in the sinking fund. The Tracy City
1st and 2d mortgage 6s and the consolidated 6s due in 1901 are all ex­
changeable at par for bonds of the Nashville Chattanooga & St. Louis
Railway Company held by the Central Trust Company.
The total funded debt January 31,1891, was $6,136,200, and sinking
funds held at same date amounted to $948,355, leaving net debt $5,187,845.
Dividends—On common in 1887,1 per cent, and none since. On pre­
ferred in 1889, 8 per cent; in 1890, January 1, 2% ; the remainingIJ k
per cent being taken by State as tax under law now repealed.—(See V.
50, p. 72); in August, 1890, 4 ; in 1891, Jan. 15, 4.
From January 1, 1891, to April 30, 1891 (4 months), net earnings,
partly estimated, were $194,700, against $339,700 in 1889; surplus
over interest, &c., $50,700, against $196,700.
Fiscal year ends January 31. See annual report for 1890-91 in
Chronicle , V. 52, p. 679.
OPERATIONS AND EARNINGS.

1887-88.
Tons.
1,168,364
. 329,987
, 109,160
. 107,750
$
, 626,975
Interest on bonds---- 263,748
14,531
Misceli, interest, &c..
. 98,300

1888-89.
Tons.
1,375,577
456,605
200,750
126,271
$
666,092
322,291
14,406
40,000

1889-90.
Tons.
1,619,020
509,906
264,648
124,574
$
781,300
351,484
22,243
80,000

1890-91.
Tons.
1,583,170
498,014
260,378
109,508
$
663,890
355,956
18,033
80,000

453,727
453,989
. 376,579
376,697
227,573
209,901
. 250,396
289,395
—(V. 48, p. 463, 5 2 6 ; V. 49, p. 403, 690; V. 50, p. 72, 276, 353, 6 2 0 ,
6 2 8 , 905; V. 51, p. 777; V. 52, p. 41, 571, 609, 643, 6 7 9 , 718.)
T erm in al H R . A sso cia tio n o f St. L o u is.—This company ac­
quired October 10,1889, the lease of the St. Louis Bridge and o f the
Tunnel RR. of St. Louis, and purchased the properties of the Union
Depot Company of St. Louis, and of the Union Railway & Transit Com­
panies and Terminal Railroads of 8t. Louis and East St. Louis. It is
composed of the following proprietary lines, which are the sole owners:
The Cleveland Cincinnati Chicago & St. Louis, Louisville & Nashville,
St. Louis Iron Mountain & Southern, Ohio & Mississippi, Missouri Pa­
cific and Wabash. Capital stock, $1,441,200.
The leases of the Bridge and the Tunnel are for the terms o f their cor­
porate existence, and were made July 1,1881, to the Missouri Paciflo
and the Wabash, bv which companies they were assigned to the present
association. Under the lease the lessee guarantees 6 per cent on the
Bridge Company’s $2,490,000 first preferred stock, 3 per cent on its
$3,000,000 second preferred stock and 6 per cent on the Tunnel Com­
p a n y ’ s $1,250,000 common stock. The Bridge Company’s $2,500,000
common stock was held by the Mercantile Trust Co., with power to vote
on it. .
The mortgage of 1889 (trustee, Central Trust Company) is for $7,000,000 bonds, of which $5,000,000 were paid for the properties and $2,000,000 reserved for enlargements, etc. In 1889 gross earnings were

Ma t , 1891.]

MISCELLANEOUS STOCKS AND

1S 3

BONDS.

Subscribers w i ll confer a great fa v o r by g iv in g Im m ed iate notice o f any error discovered In these T a b les.
Bonds- PrinciINTEREST OR DIVIDENDS.
MISCELLANEOU S.
pal, When Due.
Date Size, or
Amount Bate per When Where Payable, and by Stocks—Last
Par
For Appianatimi of column headings, &o., see notes on of
Outstanding Cent. Payable
Dividend.
Whom.
Bonds Value.
first page of tables.

Texas Pac. Land Trust—'"Certificates of propriety int’st” .
Third Avenue By. (N. T.)—IstM . for $5,000,000, gold c
Thomson-Rouston Electric—Com. st’k ($10,000,000 auth.).
Preferred stock (7 per cent, cumulative).......- - - - - - .........
Collat. trust bds, gold, red. at 105 after July, 1899... .c"
"Union Fewy—1st M., gold, red. at 110 after Hov. 1,1895.
United States Express—Stock..................................................
Wells, Fargo < Co. Express—Stock.........................................
6
Western Union Telegraph—Stock.. . . . . . . . . . . . . . . . . . . . . . . . . .
Realest. bds.,g., (lien on W.U.Bldg., N.Y.C.)s.f.(not.dr.).
Debentures (if drawn, surrender is optional).. . . . . . . c& r
Debentures, sinking fund 1 per cent, drawn at 100— c
Collateral Trust bonds........ .........- - - - - - - ---------- - - - - *c
Wheeling Bridge & Ter. Bu —1st M. fo r $2,000,000 g d ..c
Whitebreast FueL-Stock, ($2,000,000 authorized.)........
Gen. M., (now lst)g., s. f., $30,000, drawn at 110..c*&r
Iowa & 111. Coal 1st M., gold, guar., s. f., red. at 110. .c

1887
1889
1890

1872
1875
1875
1888
1889
1888
1890

$8,761,731
J. & J. N.Y.,Farmers’ L.&Tr.Co
3.500.000
Boston,
i g6 , 000,000
25
do
& J.
4.000.
000 3^2
25
& J. N. Y., Holland Trust Co.
500.000
1,000
5 gNew York City.
M .& N.
2.200.000
lOO&c
i g- M. & N. N. Y., Office, 49 B’ way.
100 10,000,000
4
J. & J. N. Y., Office, 63 B’way.
6.250.000
100
Q .-J . N. Y., Office, 195 B’way.
1^4
100 86,199,852
1.285.000
7 g. M. & N. N. Y., Union Trust Co.
1,000
M. & N. N. Y., Treasurer’s Office.
7
4.920.000
1,000
850,986
£100 &c
6 g- M. & S. London,Morton,R.& Co.
J. & J. N. Y., Office, 195 B’way.
5
8.128.000
1,000
1.000.
000 6 g. J. & D. Bank of N. Y. & Boston.
1,000
1,300,000
1 % See rem. N. Y., Office, 18 B’way.
100
540.000
1,000
6 g- J. & D. N. Y., Atlantic Trust Co.
do
do
600.000
6 g. J. & J.
1,000
$100
1,000

July, 193V
May 15, 189X
Jan. 1, 1891
July 1, 19 1 »
Nov. 1, 1920
May 16, 1891
Jan. 15, 1891
Apr. 15, 1891.
May l , 1902
May 1, 1900
Mch. 1, 1900
Jan. 1, 193»
Dec. 1, 193»
Mch. 16,1891
June 1, 1908
June 1, 1920

Nine months ending March 31.—
*
1890-91.
1889-90,
Partly est.
Actual.
$5,229,753
Net revenue................................................$5,570,075
Deduct—
$668,424
Interest on bonds.. . . . . .................... — • $651,949
T exas Pacifie L and T r u s t.—The certificates of this Trust repre­
60,008
60,000
sent the ownership of the lands formerly belonging to the Texas & Pa­ Sinking fund......................................
cific Railway. The trustees of the land trust are Messrs. Charles J.
$4,501,32»
Balance of profits................................$4,858,126
Canda, Simeon J. Drake and William Strauss, of New York, and the
lands received consisted of 3,450,642 acres and also $899,731 secured Dividends................................... (4^sp.c). 3,878,610 (3l4p.c.) 3,232,200'
by purchasers’ contracts. On January 1,1891, there remained to the
$1,269,12»
trust 3,341,162 acres of land, $447,067 deferred payments and $222,- Surplus for 9 months..........- ......... ; ......... $979,516
President Green, in his annual report for 1887-88, made explanations158 bills receivable. In 1890 there were sold 63,852 acres and 45 town
lots for $184,879. Rentals received from grazing lands, $17,019. See as to the nominal surplus of the company, which on March 31.
1891, was about $11,321,137. (See Ch ronicle , V. 47. p, 440.)
description of lands in V. 47, p. 344.
Fiscal year ends June 30 ; report for 1889-90 was In V. 51, p. 492.
T h ird A venue R a ilw a y , N. Y .—This company owns a street
iving balance sheet, &c.
1889-90.
1888-89.
1887-88.
horse railway from Park Row, New York City, via Third Avenue, to the
Harlem River, etc., 14 miles. It is proposed to operate the road by
$
$
$
19,711,164 20,783,194 22,387,02»
cable, and on April 15,1891, stockholders authorized the issuing of
.14,640,592 14,565,153 15,074,304.
$4,000,000 2d mortgage bonds to meet the expense of laying the cable.
The work is under way, and is expected to be completed by May 1,
6,218,041
7,312,7255,070,572
1892. Paid dividends of 11 per cent in 1889 and of 12 per cent in
1890. Dividends are payable May and November. In year ending June
Disbursements—
4,043,950 4,309,520 4,956,008
30.1890, gross earnings were $1,647,781; net, $508,029; surplus over
755,686
490,258
875,135oharges, $264,575; dividends (12 per cent), $240,000; surplus, $24,39,982
40,00»
40,000
For sinking funds.
575. (V. 51, p. 571, 681; V. 52, p. 609.)

$1,741,914; net, $912,938. In 1890 gross earnings were $1.929,322;
net, $1,123,306; total net, including rentals received, $1,236,866 ¡ rent­
als paid, $680.202; interest, $236,226; improvements, $47,109; sur­
plus for year, $>273,328. (V. 50, p. 276, 3 5 1 ; V. 52, p. 6 8 0 0

T h o m so n -H o u sto n E lectric.—This is a Connecticut corpora
tion engaged at Lynn, Mass., in the manufacture of electric lamps,
dynamos, outfits for electric railways, etc. On January 1,1891, it had
about 150 lines of electric railways, 87,000 arc lights and over 600,000
Incandescent lights in use or under contract. Preferred stock is 7 per
cent, cumulative. First dividend (4 per cent) was paid on common
stock in February, 1891; May 15, 4 per cent was paid. In September,
1890, 60,000 shares common stock (par $25) were sold to stockholders
at $50 per share. Preferred stock was increased in 1890 from $1,000,000 to $4,000,000.
. j
,
i
Series “ A,” “ B,” “ C ” and “ D ” trust certificates sold on the market
were issued’ to represent interests in certain stocks and bonds of local
companies, and are entitled to the proceeds of the sale of the same
when made. They are not a liability of the company, but represent
distributions to its stockholders who have either been given the privi­
lege of buying them at less than their value, or, as in the case of series
“ D.” have received them as a dividend outright.
Floating debt Feb. 1,1891, $2,678,446; stock, $10,000,000; surplus,
$6,022,533; guarantee account, etc., $204,124; assets, $18,905,106.
Fiscal year ends February 1. Annual report for 1890-91, with bal­
ance sheet, was published at length in V. 52, p. 608. The “ earnings”
for 1889-90 as given below embrace the transactions of the Boston
office only. It is said the transactions of the branch offices would in­
crease these operations about 25 per cent. The profits as here given
are those shown by the company’s balance sheet before deducting divi­
dends The “ expenses, including interest, taxes, etc.,” are merely the
difference resulting from subtracting these profits from the earnings of
the Boston office.
mom*.
1890-91.
$
$
Earnings............................................................... 8,222,789
10,617,661
7,525,778
Expenses, including interest, taxes, etc.......... 6,913,614
Profits, applicable to dividends.................. 1,309,175
—(Y. 51, p. 346, 459, 771, 877; Y. 52, p. 322, 6 07.)

3,091,883

U n io n F erry .—This company operates five ferry lines between
New York and Brooklyn. Capital stock is $3,000,000. The mortgage
covers all the company’s property, including 19 ferry-boats, real
estate, etc. President, George W. Quintard.
U n ited *tates E x press.—In September, 1887, the stock was in­
creased $3,000,000, raising it to $10,000,000, and the Baltimore & Ohio
Express was purchased. Dividends since 1880—From 1881 to 1887
inclusive, 4 per cent; in 1888,5; in 1889, 5. In May, 1890,2; in Nov., 2;
in 1891, May, 2. Dividends will hereafter be paid semi-annually in
May and November.
W e lls , F argo E x press.—No annual reports or information. In
March, 1888, this company bought out the Erie Express of the New
York Lake Erie & Western Railroad Company. Dividends of 8 p?r cent
yearly have been paid for many years. (V. 46, p. 371: V. 48, p 172.)
W estern U n io n T eleg ra p h .—On January 19,1881, was dated
the grand consolidation, in which the Western Union raised its stock to
$80,000,000. giving par, or $15,000,000, for the stock and bonds of the
American Union, 60 per cent for old Atlantic & Pacific stock in new
Western Union, and a stock distribution of 48 per cent to Western
Union shareholders.
In April, 1886, the quarterly dividend was paid in scrip, and no more
dividends were paid till July, 1887, when cash dividends were resumed
at 1 per cent, afterwards increased to 1*4 per cent quarterly.
In January, 189% an extra dividend of 3* of one per cent was paid.
The collateral trust bonds of 1888 (trustee of deed. Mercantile Trust
Company) are issued to retire an equal amount of stock and bonds of
various telegraph and cable companies for the interest or dividends on
which the western Union Company is liable, these when so retired to
be held as security for the new bonds.
PriGe o f stock—In 1881, 77 (ex-certificates) ®1377s; in 1882, 76*8
<©9338; in 1883, 71
in 1884, 49@781 ; in 1885, 53%®813s; in
8
1886, 6Qis@80!3; in 1887, 67*2@8178; in 1888, 703s®86%; in 1889,
8 1°8®88%; in 1890,71% © 87; in 1891, to May 22, inclusive, 76@83.
The statement for the quarter ending March 31.1890 (partly esti­
mated) was in V. 52, p. 428. Added to the actual figures for the six
months ending December 31, the results for the nine months compare
with the actual figures for same period in 1889-00 as follow s!




. 4,574,208
. 496,364
. 7,002,185
. 496,364

5,105,188
1,112,853
7,498,489
1,112,553

5,871,148
1,441,582:
8,611,402:
1,441,582

8,611,402 10,052,984
) 7,498,549
The following table shows the property and business of the company
at different periods:
Miles of Miles of No. of
Profits.
Year. Poles&C’ bl’s. Wire. Offices. Messages. Receipts.
1866-67.. 46,270 85,291 2,565 5,879,282 $6,568,925 $2,624,91»
7,138,737 2,227,965
1869-70.. 54,109 112,191 3,972
9,157,646
1879-80.. 85,645 233,534 9,077 29,215,509 12,782,894 5,833,937
1889-90..183.917 678,997 19,382 55,878,762 22,387,029 7,312,725
—(V. 49, p. 53, 4 6 9 , 789; V. 50, p. 205, 245, 390, 392, 835; V. 51, p .
348, 4 9 2 , 830; V. 52, p. 164, 428.)
W h e e lin g B rid ge & T e r m in a l.—The company is constructing
a railway bridge between Wheeling, West Va., and Martin’s Ferry, Ohio.
W h iteb re a st F u e l.—Owns 2,797 acres and leases in perpetuity
980 acres coal land at Cleveland, in Lucas County, and at Marysvilleand Swan. Marion County, Iowa. Also owns 10,500 acres coal land
iu Bureau County. 111., and leases for 17 years the property
of the Iowa and Illinois Coal Company (19,804 acres coal and 360 acre»
surface) and guarantees its bonds. Organized as Whitebreast Coal
Mining Co. January 16, 1876; reorganized as Whitebreast Coal Co.
April 30,1886, and under present title July 2,1887. 8ee application t©1
New York Stock Exchange in full, Ch ronicle , V. 45, p. 676. The Iowa.
Illinois Coal Co.’s bonds are guaranteed as to both principal and
interest. They are redeemable $20,000 yearly at 110, and on June l r
1907, the whole issue may be paid at same rate.
Dividends which previous to 1891 had been paid quarterly—February
15, etc.—will hereafter be paid semi-annually, April 1 and October 1,
From July 1, 1890, to March 31, 1891, (9 months), net earning»
$117,806, against $115,101 in 1889-90.
In year ending June 30, 1890, gross earnings were $851,882; nptj,.
$183,284 (against $164.950 in 1888-89); surplus over interest, sinking
fund ($50,000) and dividends (7 per cent), $19,910. President, J. C. OSgood, 18 Broadway, New York.
________
NEW YORK AND BROOKLYN TRUST COMPANIES.
(See Chronicle , Voi. 52, p. 165.)
Companies.

Surplus &
D ividends .
Undiv’ed
Profits
Period. ’89. ’ 90. Last Paid.
Par Amount. Jan. 1,’91
Capital .

$
$
NU. Nil. Mch.,’88. 3
100 1,000,000 219,507
100 500,000 990,474 Q .-J . 10 12 Apr., ’91. 8
100 1,000,000 1,281,585 Ö .-J . 12 16 Apr., ’91. 4
100 1,000,000 4,507,357 Bi-mon 25 35 May, ’91. 5*
New.
100 500,000 250,000
25 1,000,000 3,656,293 Q.—F. 25 25*’ May, ’91. 56 Jan., ’91. 3
100 1,000,000 469,158 J. & J.
10 May, ’91. 2 *»
100 500.000 607,057 Q.—F.
3 May, ’91, 3
Kings County. 100 500.000 319,896
Knickerbock’r 100 750.000 271,909
9 Apr., ’91. 2
500.000 225,515 Q .-J . é
Long I. L.&Tr. 100
Manhattan ... 30 1,000,000 161,910
8 J a n .,’91. 5
2,000,000 1,421,020 J.’ & J . 8
Mercantile___ 100
6 Jan., ’91. 3
Metropolitan. 100 1,000,000 716,936 Semi-a. 6
6 Feb., ’91. 8
105,771
Nassau............ 100 500,000
N.Y.Lf. I.&Tr. 100 1,000,000 2,172,708 J. & D. 25 25 Dec., ’90.101
New.
N. Y. Sec. & Tr. 100 1,000,000 669,844
__ 3 May, ’91. 4 =
People’s.......... 100 1,000,000 587,676
New.
. ... ....
RTEst. L.& T. 100 500,000 250,000
New.
State............... 100 1,000,000 602,809
5 Jan., ’91. 21»
Title Gu. & Tr. 100 2,000,000 441,293 J. & J.
U n ion ............ 100 1,000,000 6,752,023 Q .-J . 20 20 A p r.,’91. 5
United States. 100 2,000,000 7,644,294 J. & J. 25 25 Jan., ’S l.lä ^
New.
....
W ashington.. 100 500.000 294.649 ....

Amer. L. & Tr.
A tlantic.........
B rooklyn .......
Central..........
Continental. .
Farm. L. & Tr.
Franklin........

134

BAN K , GAS, INSURANCE AND HORSE RAILROAD STOCKS.
NEW YORK CITY BANKS.

NEW YORK CITY FIRE INSURANCE COMPANIES.

Capital .

Companies.

Surplus
D ividends .
at latest
Par Amount,. ' dates, t Period. 1889.1890.
Latest

$
$
000
2,001,800 J. & J.
America*.... 100 3.000.
000
2.019.600 M. & N.
Am. E xch ... 100 5.000.
74.000
Bk.ofDep’sit 100 300.000
Bowery* — 100 250.000 483.100 J. & J.
000
1,678,800 J. & J.
Broadw ay.. 25 1.000.
Butch’s’ &Dr 25 300.000 303.600 J. & J.
5,100
Canal St.*... 100 100.000
C entral.. Si. 100 2,000,000 558.700 J. & J.
100 500.000 979.900 J. & J.
Chase..........
Chatham ... 25 450.000 781.200 Q .-J .
Chemical_ 100 300.000 6,483,900 Bi-m’ly.
_
Citizens’ ___ 25 600.000 433.100 J. & J.
C ity .......... 100 1,000,000 2.429.500 M. & N.
51.200
Clinton*___ 100 300.000
Columbia*.. 100 200.000 114.100
94.000
200,000
Columbus...
3.517.500 J. & J.
000
Commerce.. 100 5.000.
312.200 J. & J.
000
Continental. 100 1.000.
Corn Exch.* 100 1,000,000 1.666.400 F. & A.
East River.. 25 250.000 143.300 J. & J.
27.200
East Side*.. 25 100.000
11th Ward*. 25 100,000 183.100 J. & J.
71.000
Emp. State*. 100 250.000
Fifth........... 100 150.000 305,000 J. & j\
Fifth Ave*.. 100 100.000 798.100
F irst. . . . . . . . 100 500.000 6.757.600 Q.—J.
Fourth........ 100 3.200.000 1.746.400 J. & J.
68,800
14th Street* 100 100.000
Gallatin —
50 1,000,000 1,522,300 A. & O.
22,100
Gansevoort* 50 200,000
Garfield..
5Ö 200,000 353.300
Germ’nAm.* 75 750.000 272.700 F. & A.
Germ’n Ex.* 100 200.000 516.900 May.
Germania*.. 100 200,000 480.700 M. & N.
Greenwich*. 25 200,000 143.700 M. & N.
73.200
Hamilton*.. 100 150.000
9,300
Harlem*..... 100 100.000
1,900
100,000
H’ rl’m R iv.*
Hanover i ... iòti 1,000,000 1,652,700 J. & J.
97,500 M. & N.
H om e*........ 100 100,000
Hud River* 100 200,000 132.600
fc
Imp.& Trad. 100 1.500.000 5,135,000 J. < J.
6,700
Inter-State.. 100 200,000
Ir v in g ........ 50 500.000 314.700 J. & J.
Leather Mfr. 100 600.000 570,500 J. & J.
99,000
Lenox Hill*. 100
Lincoln...... 100 300.000 356, 400
34, 400 J. & J.
Madis’n Sq.* 100 455.700
Manhattan * 50 2.050.000 1,478, ,500 F. & A,
Mkt & Fult. 100 750.000 758, ,400 J. & J;
Mechanics’ . 25 2,000,000 1,981, ,700
Mech. & Tr * 25 537,400 205! ,700
Mercantile.. 100 1,000,000 988! ,900
Merchants’ . 50 2,000,000 935, ,500
Meroh. E x.. 50 600.000 140, ,800
& D,
Metropolis*. 100 300.000 603, ,400
& J,
Mt. Morris*. 100 100.000 311, ,100
Murr’y Hill* 50 100,000 329, ,000 Q .-J .
7, 100
200,000
Mutual*___
Nassau* . . . . 100 500.000 232, 600 M. & N.
73, 000
N. Amst’m*. 100 250.000
New York.. 100 2 , 000,000 1,891, ,100 J. & J,
N. Y. County 100 200.000 568, 500 J. & J.
N. Y. N. Ex. 100 300.000 142, 300 F. & A.
N inth. . . . . . . 100 750.000 265, ,700 J. & J.
41, ,400
NIne’thW ’d* 100 100.000
N. America. 70 700.000 554, ,600 J. & J.
fc
Oriental* ... 25 300.000 404, 500 J. < J.
Pacific* ___ 50 422.700 422, ,600 Q .-F .
P ark........... 100 2,000,000 2,649, 000 J. & J.
People’ s* ... 25 200.000 307, 400 J. & J.
P h e n ix ....... 20 1,000,000 570, 800 J. & J.
Prod. Exch.* 100 1,000,000 246, 800 A. & O.
Republic ... 100 1.500.000 993, ,100 J. & J.
20,500
River Side*. 100 100,000
St. Nicholas* 100 500.000 108, 600 J. &
Seaboard... 100 500.000 172, 800 J. &
Second........ 100 300.000 369, 600 J. &
75, 300 J. &
Seventh ___ 100 300.000
Shoe & L’thr 100 500.000 267, 700 J. &
376, 000 J. &
S ix th .......... 100 200.000
Southern... 100 1,000,000 107, 200
100,000
State*...___
2,400
State of N.Y* 100 1. 200.000 489, 100 M. & N.
12,500 J. & J.
T h ird .......... 100 1, 000,000
Tradesmens’ 40 750.000 118, 100 J. & J.
76, 300
Twe’f.Ward* 100 200.000
7,,100
23d Ward*.. 100 100,000
98, ,400
Union Sq.*.. 100 200,000
U. States___ 100 500.000 530, ,500 Q.—J.
W estern___ 100 3,500,000 308, ,400
West Side... 100 200.000 236! ,600 J . ' & X

Capital .
Companies.

Jan.,’91. 4
May, ’91. 3*3
12
16
8

12
16
8

7
6
12
150
7
15

7
10
12
150
7
15

6

6

8
7
10
8

8
7
11
8

Jan. ,’91. 6
Jan.,’91. 8
Jan.,’91. 4
Jan.,’91. 3*2
Jan.,’91. 5
Apr.,’91. 4
May.’91.25
Jan.,’91. 3*2
May,’ 91,10
A p r.’91. 3
Jan.,’91. 3
Jan.,’91.
Jan.,’91.
Feb.,’91.
Jan.,’91.

4
4
6
4

Jan.,’91. 4
Jan.,’ 91. 3
Apr.,’91.25
Jan.,’91. 3*s

100

100

10

12

Apr.,’91. 6

6
12
10
6

6
12
10
6

Feb.,’91. 3
May,’91.12
May ’91 5
May ’91. 3

7

[VOL. L i. I

7

Jan.,’91. 3*2
May ’91. 3
14

14

Jan.,’91. 7

8
10

8
10

Par. Amount.

A llia n ce... . 1,000
American., t 50
Bow ery. . . . . 25
Broadw ay. . 25
Citizens’ ... t 20
Com’nw’lth t 100
Continental. 100
E agle.......... 40
Empire City. 100
Exchange... 30
Farragut___ 50
Fire Ass’n .. t 100
German Am. 100
Germania... 50
G lobe.......... 50
Greenwich.. 25
Hamilton. . . 15
H anover___ 50
H om e.......... 100
Kings Co___ 30
Lafayette... 20
Liberty ___ 50
Man.&Build. 80
Nassau..___ 100
National___ 50
Niagara....... 100
North River. 50
Pacific......... 25
People’s....... 100
Peter Cooper 50
Phenix........ 20
Rutgers’ . . . . 50
Standard___ 25
Stuyvesant. 50
Unit’d States 25
Westchest’r . 25
Wmsb’g City 10

Net
Surplus,
Jan. 1,
1891.*

D ividends .
1888. 1889. 1890.

$
$
200,000
48,396
400,000 406,533 10
300,000
37,466 10
200,000 215,150 12
300,000 295,557 6*2
66,272
500,000
1,000,000 1,602,620 12-45
300,000 697,871 10
200,000
71,763 6*2
17,304 7
200,010
200,000 102,405 10
59,841 6
300,000
1,000,000 2,296,558 20
1,000,000 879,214 10
200,000
80,674 10
200,000 390,828 10
150,000
55,028 8
1,000,000 546,263 10
3,000,000 1,494,595 10
150,000 171,633 16
21,214 7
150,000
58,572
800,000
200,000
83,535 6
200,000 219,532 10
200,000
44,249 8
500,000 435,511 10
350,000
45,136 8
200,000 295,099 12
12,882 8
200,000
150,000 192,982 12
1,000,000 653,704
200,000 127,127 10
200,000 105,050 7
200,000
49,097 6
250,000 250,179 11
300.000 460,662 10
250.000 680,461 20

10
9
10
6*2
6
14
10
6
7
10
10
20
10
10
10
6
10
10
12
6
6
10
8
10
6
12
6
12
6
10
7
7
12
10
20

Last Paid.

Jan.,’91. 3
Jan.,’91. 5
Jan., '91. 3
Feb.,’91. 6
Jan.,’91. 3*s
Jan.,’ 91. 3
14
Jan.,’91. 7
12*2 Apr., ’91. 5
6
Jan.,’ 91. 3
3*2 Feb.,’90. 3*2
10
Jan.,’91. 5
10
Mar.,*90.10
20
Jan.,’91.10
10
Jan.,’91. 5
8
Jan.,’91. 4
10
Jan.,’91. 5
Jan.,’91. 3
6
10
Jan.,’91. 5
Jan.,’91. 5
10
12
Jan.,’ 91. 6
Jan.,’91. 4
6
Jan.,’91. 2*2
Apr., *91. 1*2
6
Jan.,’91. 5
10
Jan.,’91. 4
10
Jan.,’91. 5
Apr.,’91. 3
6
12
Jân.,’ 91. 6
Jan.,’91. 3
6
Jan.,’91. 6
12
10
Jan.,’91. 5
10
7
Jan.,’91. 3*2
6*2 Jan.,’91. 3
Jan. i’91« 5
11
Feb.,'91. 5
10
Jan.,’91.10
20

10
6
11
6*2

Jan.,’91. 4
Jan.,’91. 5

7
7
8
8
8
8
10
10
6*2 6
7
7
6
6
10
10
6
6
16
16
8

Feb. ’91.
Jan., ’87.
Feb. ’ 91.
Jan., ’91.
Jan., ’ »1.
Jan.! ’91.
Jan., ’91.
Jan., ’91.
Jan., ’91.
Dec. ’90.
Jan., ’91.
Apr. ,’91.

3
3
3*2
4
4
4
3
3*3
3
5
3
4

May ’91. 4

* Over all liabilities, including re-insurance, capital and scrip.
t Surplus includes sorip.
NEW YORK AND BROOKLYN HORSE RAILROADS.
R ailroads .
(See earnings in
Y. 51 ,p . 788.)

Dividends and Interest.
Par.
$

Amount.
$

Rate.*
’ 89. ’90.

Date.
t

50 1,000,000 Q.—J. 6
Atlantic Av. (B’klyn) st’k
6 Apr’91,1 **
1st mortgage...............
140,500 M. & N. 7
7 May 1. ’94
5
General mortgage___ 1,000 759.000 A. & O. 5
5 Oct., 1909
4
100 900.000 J. & J. 1*2 1*2 Jan.,’91,\
HBleecker Street-Stock
3
1st mortgage............... 1,000 700,000 J. & J. 7
7 Jan., 1900
3*2 ffB’way &7th Av.—Stock
100 2,100,000 Q.—J. 4
8 Ap.’91,2*s
3
1st mortgage............... 1,000 1,500,000 J. & D. 5
5 June,1904
6
6
3
2d mortgage............... 1,00© 500,000 J. & J. 5
5 July, 1914
10
10
5
B ’ w’ySurf.-IstM.,guar 1,000 1,125,000 J. & J. 5
5
1924
8
8
2
2d M., int. as rental. 1,000 1,000,000 J. & J. 5
5
1905
8
5
9
So. Ferry RR. IstM.gu. 1,000 350,000 A. & 0 . 5
5
1919
10
10
5
100 525,000 Q .-F . 2
Broadway (Brooklyn)...
6*2 May,’91,2
6
6
3
1st mortgage............... 1,000 250,000 J. & J. 5
5 Co’s optf*B
5
3
5
1st M., Yates Av. guar 1,000 100,000 J. & J. 5
do
5
7
4
8
10 6,000,000 Q.—J. 8
Brooklyn City—Stock...
8 Apr. ,’91,2
1st mortgage............... 1,000 800,000 J. & J. 5
5 Jan., 1892
6
6 Jan.,’ 91. 3
Gen. M., red. in 1916 . 1,000
1941
(?)
6
6*2 Jan.,’91. 3*2
B’klyn Crosst’n 1st M. 1,000 200,000 J. & J. 5
5 July, 1908
10
10 Jan.,’91. 5
Bushw. Av. 1st & 2d M. 1,000 564,000 J. & J. 6
6 Jan., 1892
6
6 Jan.,’91. 3
Gr. St. & Newt’n 1st M 1,000 200,000 F. & A. 5
5
1906
8
8 Jan.,’91. 4
100 1,000,000
Brooklyn City & Newt’n
Nil. 1 May,’ 91,1
8
8 Jan. ,’91. 6
Consolidated mort---- 1,000 1,000,000 J. & J. 5
5 July, 1939
3 Jan.,’91. 3
100 600,000 Q.—J. 7*4 7*4 Apr’91,1 %
Central Crosst’n—Stook.
1st mortgage............... 1,000 250,000 M. & N. 6
6 Nov., 1922
M ay,’91. 3
100 1,800,000 Q .-J . Nil. 4 Apr.,’91,1
Cent. Park. N. & E. Riv.
July,’90. 2*2
Consol, mortgage....... 1,000 1,200,000 J. & D. 7
7 Dec., 1902
July,’ 89. 3
100 650,000 Q .-J . 7
tChristopher & 10th S t..
7*2 Apr.,’91,2
1st mort., 5s, 6s & 7 s .. 1,000 180,000 A. & O. 7&e 7&c Oct., 1898
100 500,000
Coney Island^ Brooklyn
Nil. Nil. A g.’ 88,2*a
1st mortgage............... 1,000 300,000 J. & J. 5
5 Janl,1904
8
8
Apr.,’91. 2
Certificate of indebt..
146,000 J. & J. 6
6 Jan., 1910
2 Jan.,’91. 2*2 D. D. E. B. & Bat.—Stock
100 1,200,000 Q.uar. 4
8 May, ’91,2
iti’
12 Jan.,’91. 6
1st mortgage............... 500 &c 840,000 J. & D. 7
7 June,1893
100 1,200,000 F. & A. 6
Certificate of indebt..
6 Feb., 1914
100 1,000,000 Q .-J .
Eighth Avenue—Stock..
* These are not National banks.
6 % 9 Apr.,’91,2
100 1,000,000 F. & A. 6
Scrip..............................
t May 4,1891, for National banks and Mch. 21,1891, for State banks.
6 Feb., 1914
100 748,000 Q .-F . 12 15 May,’91 ,4
42d & Gr. St. Ferry—St’k
NEW YORK AND BROOKLYN GAS COMPANIES.
1st mortgage............... 1,000 236,000 A. & 0 . 7
7 Apr., 1893
100 2.500.000
42d St. Man. & St. N. Av.
NiL Nil.
Dividends and Interest.
1st mortgage............... 1,000 1.200.000 M. & S. 6
6 Mch.,1910
Par. Amount. Period.
G as Companies.
2d mortgage incom e.. 1,000 1,525,000 J. & J. 6
6 Jan., 1915
’ 89. ’90.
*Date.
100 1,050,000
H. W. St.&Pav.F’y—St’k
Nil. NU. Feb.,’86,2
500 500,000 J. & J. 7
1st mortgage...............
7 July, 1894
7 Nov. 1890.3*2 Ninth Avenue—Stoek...
Brooklyn G.-L.—Stk. $25 $2,000,000 Various 7
100 800,000
NU. NiL Nov.,’ 87,2
4 Jan.,1891.2*2 Second Avenue—Stock..
20 1,200,000 Various 4
Citizens’ G.-L. (B’kln)
100 1,862,000 Q .-J . Nil. 4 Apr. ,’91 ,1
5
250,000 A. & O. 5
1895-1905
Bonds..................... 1,000
1,000 1,600,000 M. & N. 5
1st mortgage........ .
5 Nov., 1909
5 Dec.15’90.2*2
Consolidated—Stock. 100 35,430,060 J. & D. 5
Debentures.................. 1,000 150,000 J. & J. 5
5 Jan., 1909
5
May, 1908
Debenture bonds.. 1,000 1,500,000 M. & N. 5
100 1,500,000 Quar. 6
Sixth Avenue—Stock...
8 Apr’91.2*a
Aug.. 1901
&
6
950,000 F. < A. 6
Metropol’n—1st M. 1,000
1st mortgage............... 1,000 500,000 J. & J. 7
7 July, 1891
8 Apr.,1891.2
8
Equitable—Stock.. .. 100 4,000,000 Q .-J .
100 2,000,000 M. & N. 11 12 May ’91, 6
Third Avenue—Stock...
1899
6
Bonds.... . . . . . . . . . . 1,000 1,000,000 F. & A. 6
1st mortgage............... 1,000 3,500,000 J. & J. 5
5 J’y 1,1937
Fulton Munlc.—Stk.. 100 3,000,000 Q .-J . 10 10 Apr.,1891.2*2 Twenty-third St.—Stock
100 600,000 Q.—F. 10 10 M’y’91,2*a
300,000 J. & J. 6
1899
6
Bonds, red. at 100.
1st m ortgage............. 1,000 250,000 M. & N. 7
7 May, 1893
6 Jan.,1891.3
Metrop. (B’kln)—Stk. ioti 1,000,000 J. & J. 6
Debentures.................. 1,000 150,000 J. & J. 5
5 Jan., 1906
4*2 Jan.,1891.2*2
Mutual (N. Y.)—Stk. 100 3,500,000 J. & J. 4
B’way, 1st M., guar... 1,000 375,000 J. & J. 5
5
1924
6
1902
1st M., red. at 100. 1,000 1,500,000 M. & N. 6
6
6 Apr.,1891.1*2
25 1,000,000 Q.—J.
Nassau (B’kln)—Stk.
* The figures in these columns represent for stock the rate per cent o f
700,000 M. & N. 5
5 Nov. 1890.2*2
Scrip...................... Var’ s
6 M ar.l5’91.1*2 dividends, for bonds the rate per cent of interest per anmim
10 1,000,000 Q .-M . 6
People’s, (B’kln)--Stk.
May, 1907
368,000 M. & N. 5
5
t This column shows last dividend on stocks, and maturity of bonds»
Bonds, red. at 100. 1,000
94,000 A. & O. 6
6
Apr., 1919
B o n d s............ .'.... Var’ s
|Leased to Twenty-third Street.
|
3,369,000 Q .-M . 4*2 5 June 1891.1*4
Standard, pref.—Stk. 100
t In June, 1890, leased to Central Crosstown at 8 per cent per annum
8
8 Apr.,1891.2
50 1,000,000 Q.—J.
Williamsburg___. . . .
6
1900
1 Leased in 1890 to Houston West Street & Pavonia Ferry at 10 per.
T
Bonds,.................... 1,000 1,000,000 A. & O. 6
* T his colum n shows last dividend on stocks, and m aturity o f bonis.
cent per annum.




10
8
6
7

10
8
6
7

Jan., ’91,
Jan., 91.
Feb 91.
Jan.,'’91.
Jan., 91.
Jan., 91.
Jan., 91.
May, 91.
Jan., 91.
Jan., 91.
Jan., 91.
Apr., 91.
Jan., 91.

1SS

BAILROAD EABNINGS.

Ma t , 1891. J

MONTHLY EARNINGS OF PRINCIPAL
Jan.

F eb.

M a r c h . A p r il.

M ay.

Ju n e.

J u ly .

RAILROADS.
A ug.

S e p t.

O c t.

Not.

D ec.

T o t a l.

.

.

.

$
$
$
$
f
8
1
$
$
*
$
i
$
A la b a m a G r e a t S o u th e rn —
158,420 1,549,293
153.344
1688................................................ (296 m .).. 136,749 128,707! 127,662 116,067 115,248 111,345 120,912 122,786 118,866 139,207
197,059 1,901.888
180,757
160,800 145,420. 154,634 138,526 136,371 139,294 143,360 155,238 160,846 189,564
1889 ............................ 1............. (2 9 6 m .)..
182,221 1,965,963
179,567
1 8 6 0 ..
.................................(295 m .).. 177,353 150,073 148,226 146,935 160,186 147,767 145,446 170,304 172,712 185,173
159,665 148,199 154,837; 150,099
1891 .............................................(295 m .)..
A tc h is o n T o p e k a & S a n ta F e —
.707.772 1,730,636 1.910,094 1,939,972 1,995,459 2,039,3o0 2.306.000 2,393,834 2,543,072 2.843,651 2,525,184 2,532.332 26,467,356
1888a.........................(6,432 to 7,112 m .)..
1889a . , .....................................(7,112 m .).. ,979,175 1,864,983 1,954,872 2,287,111 2,248,466 2,094,199 2.052,138 2,492,451 2,691,550 3,040,758 2,741,978 2,688,785 28.1 ’6,456
1890a...........................................(7,109 m .).. 2.279,162 2,221,313 2.625.142.2.641.818 3,305,713 2,523,543 2,549,455 2,894,09) 3,137,049 3,358,882 3,072,880 2,932,445 33,241,999
*2716574
1 8 9 1 ..
. . ..........................(7,114 m .).. 2,473,848 2,217,129 2.573.818
B a lt im o r e db O h i o 1888...........................(1,744 to 1.886 m .).. 1,464,769 1,481,643 1,572,152 1,569,516 1,769,184 1,702,489 1,657,555 1,955,450 1,764,684 1,853,541 1,599,965 1,705,326 20,156.274
1889
.............................. (1,843 m .).. 1,606,319 1,452,737 1,721.843 1,632,135 1,748,318 1,803,187 1,906,611 2,133,784 2,079,237 2,252,482 1,900,419 2.130,893 22,427,093
1,924,758 1,720,716 1,992,207 1.994.482 1,993,545 1,894,216 2,050,949 2,379,716 2,215,727 2,236,207 2,001,253 2,013,163 24,416,939
1890 ..................................... (1,863 to 1,934m .)..
1891
............................. (1,934 m .).. 1,893,414 1,731,112 1.832,860 ♦189208a
B a l t . & O h io S o u t h w e s t e r n —
187,236 2,050,534
150,193
1888
................................ (2 8 1 m .).. 170,900 170,908 165,534 150,032 160,580 154,268 182,708 194,866 196,773 181,637
203.967 2,177,958
203,228
1889 ....................
(2 8 1 m .).. 179,905 161,145 162,332 153,407 155,891 159.582 161,824 212,379 199,960 220,211
193,254 2,334,445
191,856
IS9 0 ................................................ (2 8 1 m .).. 188,521 180,539 200,115 176,022 176,320 169,406 194,086 212,707 221,541 219,555
1 8 9 1 ..
. .........
(2 8 1 m .!.. 185,006 170,374 185,722 *183,633
B u r l. C e d a r R a p id s d b N ò r th ’ n 268,19? 2,848,075
305,853
1888
............................. (1,046 m .).. 208.245 221,014 209,597 198,176 194,501 222,148 198,849 215,206 280,433 330,856
268,997 2,980,542
282,040
205,628 216,128 228,259 199,603 217,716 210,267 217,729 282,745 298,909 358,521
1889
...................................... (1,046 m .).
306,104 8,303.982
318,245
216,183 271.994 270,834 206.689 231,855 209,427 237,166 285,096 362,889 387,470
1890 ................ ........ ............... (1,040 m .)..
251,734 265,851 305.571 254,267
1 8 9 1 ..
. ; ...
(1,046 m .).
C a n a d ia n P a c ific —
1,218,737 1,130,947 1,848,700 1,328,964 1,146,441 13,195,536
801.205 837.994 968,523 1.034.587 1,010,085 1.180,996 1,188,355
1888
.........
(4,476 to 4.795
m .)..
897,928 844,046 1,128,623 1,137,427 1,100,099 1,255,361 1,375,528 1,121,755 1,483,407 1,620,976 1,473,695 1,265,801 15,030,660
1889 ..................................... (4.795 to 4.957m .)..
.............(4,957 to 5.564 m .).. 1,034,122 916,257,1,233,960 1,320,489 1,319,423 1,356,503 1,489,446 1,494,121 1,607,715 1,766,447 1,734,490 1,548.491 16,851,459
1890
1,365,221 1,338,494 1,510,039 *1597000
1891
........................................(5,564 m ,}..
C e n tr a l o f N e w J e r s e y —
977,212 13,177,471
1888
...................
1827 m .).. 835,505 930,391 906,502 1,006,325 1,003,143 1,074,180 1,256,251 1,369,315 1,328,212 1,315,868 1,174,567
1889..................................(627 to 652 m .).. 1,044,918 843.608 900,688 980,234 1,080,021 1,190,930 1,312,597 1,369,036 1.186,281 1,305,160 1,172.311 1,111,607 13,497,394
893,974 821,702 906,607 1,079,709 1,163,820 1,196,206 1,317,759 1,295,534 ,237,244 1,342,977 1,231,292 1,176,897 13,663,726
1890 ......................................................... (652m .)..
1891.. ..................
(652 m .).. 1,089,190 943,294 1,019,341
C e n tr a l R R . db B k g . C o . ojT G a.—
797,399
750,365 7.392,905
679,658 634,756 562,955 477,537 449,032 465,761 499,003 528,783 646,361 901,295
1888
....................... (1,097 to 1,220m .)..
828,974
878.492 8,058 741
1889
............. (1,220 to 1,254 m .).. 690,695 658,807 605,609 499,217 466,593 506,739 581,801 570,779 852,064 918.978
873,907 8,708,176
876,730
878,96- 715,408 639,285 552,502 535,152 555,182 595,957 674,652 873,048 942,386
1890
.........................(1,276 to 1,312m .)..
812,164 760,768 724,999
1 8 9 1 ..
. .......
(1,812 m .).
C h e s a p e a k e db O h i o 418,604 5,123,931
440,000
420,431 381,919 425,593 388,276 420,404 395,218 442,327 478,610 445,728 473,821
1888
...........................................(754m .).,
569,681
555,508 6.149,998
1889
.................. (754 to 931 m .)., 442,737 42 \659 439,007 407,777 474,602 407,996 585,437 638,874 581,267 623,235
639,627 7,719,564
680,346
618,917 577,066 571.524 594,402 640,997 605,041 643,663 728,000 714,247 705,734
....... I ...................... (9 31m .)..
1 8 6 0 ..
654,663 623,075 665,660 *658,086
C h ic a g o B u r lin g to n db Q u in c y 2,190,599 2,445.840 2.325.22b 1,807.783 3,037,977 3,423,932 2,838,567 2,774,048 29.742,700
1888 .......................... (6,121 to 6.345 m .). 2,143.093 2,117,773 ,517,588 2,131.341
1889 . . . ...................(6,341 to 6,520 m .). 1,916,205 2,412,332 2,657,998 2.513,759 2,613,751 2,694,060 2,671,746 1,236,718 3,180,677 3,464,594 2,967,678 8,199,778 84,067.017
(6,520 m .). 2,717,408 2,589,410 3,160,747 2,742,084 2,986,792 2,740,583 2,721,399 1,016,229 3,244,468 3,523,053 2,872,081 2,815,732 35,130,586
1890 .........................
1891.. ....................
(6,497 m .). 2,329,830 2,237,904 2,489,279
C h ic a g o & E a s te r n I llin o is —
249,511 2,719,660
249.705
1888.........................................
(436m .) . 205,369 208,315 205.970 187,251 212,359 205,294 206,797 259,233 246,750 283,102
242,355 2,679,583
241,057
216,846 214.310 207,360 218,969 184,838 186,029 209,843 252,494 242,332 263,075
1889..............................................(434 m .)..
329,572 c3,297,589
273,792
I 8 6 0 * ......... ............................ . ;.(486 m .).. 227,287 219,814 263,755 261,812 237,694 244,598 273,903 292,521 300,012 338,461
1891*;...........................................(4 3 6 m .).. 296,227 272.608 326,381 289,941
C h ic a g o M ilw a u k e e db S t . P a u l.—
1,767,064 2,001,329 1,924,565 2,078.677 2,478,167 2,942,491 2,615,260 2,274,481 24,867,731
1.577.062 5,670 m .)..
1,452,047
1888
........................................................................(5,621 to 1,930,889 1.825,699
1889
............................. (5,678 m.) 1,655,910 1,676,608 2,019,89 1,819,531 1,929,768 2,007,204 1,977,398 2,212,692 2,550,195 2,951,840 2,737,877 2,361,799 25,900,219
1890
............ (5,678 to 5,657
.. 1,794,411 1,798,146 2,077,754 1,998,966 2,000,254 1.949,876 2,149,068 2,322,689 2,714,628 2,905,771 2,650,986 2,453,280 26,810,829
1891;.............. .......................... (5,703 m .).. 1,946,196 1,878,993 2,131,393 2,105,560
C h ic a g o db N o r t h w e s t e r n 1888 ..........................(4,208t o 4,250 m .).. 1.571,289 1,676,493 1,897,532 ,954,885 2,090,253 2,286,974 2,149,666 2,295,291 2,714,274 2,972,265 2,283.424 1,940,627 25,832,973
1.613.245 1,500,879 1,893,414 1,837,256 2,144,942 2,061,054 2.267,573 2,575,104 2,555,590 2,979,807 2,513,452 2,182,964 20,185,280
1889
........................................(4,250 m .)..
1,855,767 1.758.062 1,910,316 2,208,927 2,308,625 2,220,480 2,466,740 2,680,151 3,036,516 2,948,516 2,546,672 2,190,175 28,163,367
1890
........................................................................(4,250 to 4,258 m .)..
1,893,407 1,707,841 2,029,078 3,023,432
........................................(4,258 m .)..
1891
C h ic . S t . P a u l M in n . db O m a h a —
615,790
457,576 6,416,320
324,888 438,927 500,341 496,246 472,176 561,689 550,630 605,507 650,802 741,748
583,539 6 .4 2 2 ,6 «
668.937
188*’.v ..................................... ..(1 ,3 9 4 m .).. 366,«34 429,173 532.525 450,584 481,441 478,734 507,594 570,160 588,597 758,726
.
579,984 6,854,521
677,727
488,806 451,975 528,917 538,075 514,657 483,233 539,926 596,173 691,910 763,137
3090 ...........................................(1,894 m .)..
1891............................................ (1,394 m .).. 485,736 457,246 550,411 570,650
C in c in n a ti N . O . db T e x a s P a c .—
319,497 3,624,490
300,539
277.627 278,281 290,593 273,667 300,867 296,224 323,407 312,804 321,154 329,780
1888
.................................(888 m .).
378,909 3,937,637
378,500
1889
....
(336 m .).. 319,378 263,257 302,813 285,944 294,418 282,817 328,076 366,091 333,516 383,874
881,7i0 4,447,857
382,762
1890
.................................(336 m .) . 358,691 327,696 321,499 353,400 391,477 367,352 340,191 404,401 405,355 413,290
1891 .............
(336 m .).. 353,549 331,702 347,302 343,422
W h o le E r la n g e r S y s t e m 730,283 7,148,562
700,967
536,574 528,306 580,402 575,264 571,012 677,241
1888......................................... (1,140 m .).. 582,743 565,996 575.941 523,20'
816,390
848,753 8,136,274
1889........................................ (1,140 m .).. 691,462 595,980 635,367 562,254 577,566 569,762 623,051 682,600 706,062 827,028
824,639 8,965,140
806,787
775,593 672.058 658,373 693,959 778,089 720,699 651,473 760,399 778,646 844,475
........... .............(1,140 m .).
1890
1891
..........................(1.140 m .) . 735,915 671,252 698.419 668,718
O o lu m b u s H o c k . V a l. db T o le d o 220,503 2,893,970
253,634
1888 ..............................................(825 m .).. 204,305 189,370 182,335 200,942 257,686 251,462 248,155 283,078 296,326 305,574
198,781 2,524,655
244,390
1889
.................................(325 m .).. 199,476 174,112 174,185 160,654 196,753 197,481 219,581 253,630 243,976 261,634
260,072 e3,088,900
304,691
1890
.................................(325 m .).. 164,411 163,C16 212,744 256,11- 257,033 238,991 271,081 280,001 307,800 340,598
209,277 178,170 226,440 *253,008
1891 ................................................(327 m .).
D e n v e r db R io G r a n d e 615,328 7,668,654
666,860
1888
.......... (1,462to 1 ,4 6 7 m .).. 586,437 514,701 541,846 576,161 657,089 678,480 671,977 705,700 721,272 732,803
697,717 8,046,606
765,875
572,592 497,077 679,608 581,046 647,792 696,206 724,092 713,835 754,543 810,220
1889
............(1,481 to 1,517 m .)..
833,831 8,875,786
813,866
1890
.
(1,499 m .).. 606,491 528,128 606,584 636,493 756,548 756,608 810,017 819,448 836,079 872,189
651.627 556.215 605,213 *603,300
1861............................ (1,575 to 1,637 m .).
B a s t T e n n . V a . db G a .—
497,741 5,615,907
517,569
469,444 462,514 444,667 416,674 423.898 438,397 456.594 470,874 466,628 550,967
1888
..... .(1,098to 1,140 m .)..
638,220 0,413.751
624,188
661,661
1889
(1,140 m .).. 510,641 513,828 509.960 430,158 415,817 472,771 494.411 535,074 577,021
691,715 7,491,382
658,070
655,693 571,572 583.960 538,761 592,244 568.357 613,010 653,066 660,854 704,080
1890
........».(1 ,131 to 1,359 m .) .
1891 .......................................... (1,359 m .).. 692,891 579,018 587,915
E liz a b e th . L e x . db B ig S a n d y 74,499
89,481 1,008,689
87,232
77,208
75,333
94,785
93,328
93,337
87,800
66,637
75,634
93,314
1888................................................(139 m .)
62.93S
69,389
64,0U
56,991
77,392
58,792
67,879
815,830
69,409
65,452
74.359
80,208
1 8 8 9 ..
. ------------------ ----------------------------------------(139 m .).. 69,015
54,642
66,892
60,711
67,607
61,116
63,679
62,670
810,330
76,318
78,067
58.998
74,077
85,554
1890................................................(189 m .)..
48,510 *52,927 *55,831
60.741
1 8 9 1 ..
.................................(139 m .j..
F lin t db P e r e M a r q u e t t e 205,597 2,403,075
193,050
1888
................................................(863 194,396 m 190,585 208,474 224,537 218,545 186,855 195,659 197,283 182,504 204,990
to 379
.)..
210.30" 2,370.133
187,430
202,062 171,507 236,565 201,628 199,335 176,272 193,864 193,702 189.122 208,278
1889 ............................................(879 m .)..
249,441 2,923,575
21',699
228,111 252,454 294,270 274,325 247,456 225,240 224,481 225,024 232,131 254,942
1890
.............................. (635 m .)..
253,965 226,336 286,794 *257,562
1891.............................................(625 m .)..
'1 1 . C e n t.—111. L in ed b S o . D iv .—
1,076,375 1,063,084 1,037,330 955,230 1,076,361 1,054,444 1.039,849 1.150,968 1,157,630 1,382,073 1,330,232 1,330,071 13,660,245
1888
...........(2,355 to 2,553 m .)..
1889
........... (2,767 to 2,875 m .).. 1,254,865 1,226,895 1,217,990 1,097,947 1,259,013 1,201,686 1,230,103 1,304,912 1.467,850 1,680,082 1,651,712 1,561,487 16,114,342
1890
.............................(2,875 m .).. 1,355,421 1,270,418 1,301,908 ,235,973 1,308,898 1,123,260 *1254165 *1410484 *1503168 *1716471 ♦1.075,501 *1,681,958 16,837,625
1891*.......................................... (2,875 m .).. 1,485,080 ,431,296 1,452,439 1,358,003
I o w a C e n t r a l122,230 1.379,834
125,871
98,272 107.954 124,312 103,191 103,030 106,620 104,429 115,344 126,081 141,900
1888................................................ (510 m .)..
146,409 1,526,238
143,833
92,495 107,80"
109,416 109,755 138,497 144,018 171,511
1 8 8 6 ..
;.
....(5 0 9 m .).. 116,661 128,656 117,180
155,002 1,688,070
152,852
122.939 136 522 138,821 110,099 127,452 114,177 126,581 150,252 172,932 180,447
1890
.................................(497 m .).
1891
................................ (497 m .).. 127,341 146.059 152,684 *130,408
L a k e E r ie db W e s t e r n 199,170 2,167,780
185,412
145,407 149,470 152.347 151,220 157,968 166,672 179,289 234,031 225,646 221,157
1888 ................................ (548 to 589 m .)..
227,092 2,517,601
206,805
186,451 202,321 207,358 184.643 186,097 180,876 209,024 263,189 321,500 232,143
1889
................................(589 m .)..
279,044 3,181,29?
246,041
242.715 211.358 252,508 229,056 225,280 202,114 249,339 298,149 281,427 280,682
1890..................................(589 to 722 m .j..
251.998 226,885 253,454 *229,801
1861...........................................................(722m .)..
L o u is v ille db N a s h v ille —
1888............................ (1,973 to 2,181 m .).. 1,306,817 1,280,395 1,261,202 1,204,415 1,316,324 1,366,790 1,333,432 1,345,927 1,394,834 1,437,054 1,341,787 1,454,222 16,043,199
1889..........................(2,176 to 2,181 m .).. 1,398,*47 1,346,528 1,476,378 1,315,853 - ,382,680 1,371,855 1,448,495 1,637,277 1,615,419 ,708.496 1,595,416 1,654,053 18.011,297
1890
...........(2,196 to 2.216 m .).. 1.571.327 1,496.846 1,518,177 1,478,007 1,577,216 1,485,274 1,545,182 1,706,939 1,665,728 1,788,920 1,075,766 1,651,839 19,161,221
1891
..........
(2,344 m .).. 1,590,515 1,529,781 1,552,039 *1492080
s L o u is v ille N e w A lb . db C h ic ;—
188,121 2,292.781
147,057 152,887 162,699 173,955 186,736 194,678 202,431 226,814 234,895 229,139
193,339
1888
........................................... (587m .)..
230,723 2,495,828
209,390
1889
(587m .).. 177,420 170,427 176,269 186,396 198,398 2 «1,727 214,930 247,152 240,003 243,080
1890 ............
...(5 3 7 m .).. 169,260 168,785 196,689 200,138 214,966 231,424 240,657 245,669 262,095 '256,852 *231,981 **21,690 «2,630,132
192,469 189,545 218,805 *207,862
1891
.
(537 m .).
M e m p h is db C h a r le s t o n 189,481 1,583,549
157.940 144,618 124,616 120,967 120,547 107,636 115,136 122,573 104,001 129,810
146,224
1888 ...............
(330 m .)..
184,102 1,729,164
162,520 162.516 143,448 111,556 118,539 112,122 125,514 146,255 188,725 157,710
166,097
1869...........................................................(330m .)..
167,669
182,457 1,849,390
(330m .).. 172,514 145,3o5 135,231 140,807 143,051 128,367 112,585 168,543 102,450 160,411
1890
157,193 138,350 129,600
1891
........................................... 1330m .).'.
M e x ic a n C e n tr a l—
491,013 5,774,382
512,042 482,164 550,286 487,899 510,978 370,752 505,507 498,631 388.791 499.368
470,302
1888«.......................... (1,236 to 1,397 m .)..
570,086
631,768 6.337,220
516,672 457,906 564,075 527,670 564,668 485,912 473,598 498,384 478,520 568,364
1889«.......................... (1,397 to 1,537 m .)..
594,091
631,050 6,425,694
587,015 569,56'
573,315 ol5,264 524,244 439,050 451,503 476,000 490,131 574,383
1890e......................................................(1,527m .)..
1891 ..............................
(1,527 m .).. 583,770 538,129 558.010 *591,627
M ilw a u k e e L a k e S . db W e s t .—
190,161 2,836,788
131,5)5 145.443 166,436 192,037 246,028 299,467 297,792 817,102 290,738 310,106
249,948
........................... (592 to 6 5 1 m .)..
1818
252,949 3,474,667
296,984
181,640 190,194 246,999 251,284 319,062 324,174 351,518 381,881 334,375 343,604
1 8 8 9 ... ......................................... (6 5 1 m .)..
282,073
234,661 3,848,508
1890 .............................................. (692 m .).. 226.716 224,289 260,407 294,075 377,504 378,380 330,327 391,722 403.632 408,719
.(699 m .).. I *207,318 *209,580 *-36,148 *222,624
1891

* Approximate figures.
a Includes whole system (excepting St. Louis & San Francisco) and lines half owned.
c Embracing corrections found necessary after monthly totals had been published.
« Figures are given in Mexican eurrenoy.




156

INYESTOES’

SUPPLEMENT.

[V

ol.

L II.

M ONTHLY EAR NIN G S OF PRINCIPAL RAILROADS— (Concluded).
Jan.

F eb .

M arch . A p ril.

M ay.

June.

J u ly .

Aug.

Sept.

O ct.

.

.

{M in n e a p o lis <& 8 t . L o u is —
$
*
$
$
$
$
$
$
I
$
1888
............................................ (351m .)..
86,600 109,234 100,161
102.416 103,601
114 .40Ì 109,031
100,181 12-.957 143,340
1889
............................................(363m .)..
83.390
93,172 109,536
93.537 107.800 103,045 120.474 127.715 145,04 182.228
1890
........................................... (363m .)..
104,785 101.270 130,111 109,0 <3 105,20»
99,489 124,32« 122,997 152,820 170,362
1891
............................................(363m .)..
109,700 112,379 139,137 *124,824
M o b ile <& O h i o 1888...........................................................(687m .)..
202,210 215,992 203.588 174.192 210.408 194,46 - 170,282 192,779 181,779 261,641
1 8 8 » .............................................. (687 m .).. 284,);03 277,05 » 257,052 197.348 243,579 2 )6.807 207,000 224.76
239.101 295 ,5rtl
1800......................
(687 m .)..
291,637 247.300 2 *5,396 254,113 290 ,08» 258,000 *257,193 2 (1,933 28^,607 322,233
1 8 0 1 ..
............................................(687m *.)..
321,691 *284,495 *287,540 *280,565
M a s h v llle C h a tt. <fc S t . L o u i s 1 8 8 8 ................................ (627 to 650 m .)..
270,806 248.885 257,133 232,263 252.797 22°,181 262.584 272,185 271.179 282,621
1880...........................
(652 m .)..
293,080 275.627 290.039 258,288 287.892 259,175 209.209 328.040 : 00 .21-4 309.511
1800
.......... . ? ! . . . . ......... (.652 m .)..
808.58b 279,315 271,102 277,144 298.050 275,36 ' 341,167 355,6
350 ,167
1801
.......................
(652 m .) . 357,713 292,523 306,995 299,387
M . V . C e n tr a l & H a d . K i v .1888....... ..................(1.447 to l,42o m .).. 2 .716.704 2,586,483 2 ,849,609 2 .748.777 2 ,824.844 2,896,216 2 ,850.191 3 .273.771 3 ,366,100 3 .175,796
1880........................................ .(1,420 m .)., 2 ,710.150 2.461,730 2,861,599 2 .742.874 2 ,802.851 3 .U 1.443 .951.919 3 , 400.984 3.392.298 3 .436.316
1800............................ (1,420 to 1,465 in .).. 2 ,928.406 2.703,853 2.946,5 2 ; 3 .022.979 3 ,128.004 S,007,O 7 3,004,827 2 .843,522 3 ,215 ,- 8 « 3 ,270,919
y
1891 ...................................... (1,4' 5 m .).. 3 ,007,852 2,732,996 3 ,001,430 3 ,020,393
M ew Y o r k L a k e E r ie <S W e s t .—
c
1888
............................... (1,632 m .),. 1.890.183 2,048 ,2 '0 2 ,130,419 2 ,112.6 )0 3 .332,879 2,283,194 2 .378.769 2 ,440.76 b 2,378,790 2,562,316
1889
......................................... (1,682m .)..4,201 1,711.177 2 , 113,101 1.953.738 2, 182,500 2 ,311,604 2 .S38.440 2,778.7 «'( 2,526,259 2,8 0».002
1,9 ¿
1890
......................................... (1,632m ,.).. ,7«5 2,1 56,487 2 .242,480 2 ,345,757 2 ,407,070 2,420,790 2,504,124 2.798.6 K 2,569,708 2,712 ,7 .8
2 155
................
(1,632 m .).. 2 , 172,2 .0 2 ,054,403 2 ,291 ,i 8 u
1891
M ew Y o r k & M ew E n g la n d —
1888
.................................(490 m .).. 391.539 886 ,9 )8 378 .4*0 410.325 424.439 450,079 464.991 510 ,30501,128 526,447
1889
........... .................... (490 m .)..
412.571 385,713 422,804 422,113 476,024 479 »80 492,06
5 (7 , 44.
510.924 53 ,340
1800
(,490m .).. 434 ,40 . 399,005 452,266 481,852 515,033 514 ,83 ; 52e,90 - 5 . 0 ,7 :0
502,784 678,917
1801
.................................(490 m .).. 440,040 417,781 481 ,04» 494 ,92 ;
M ew Y o r k S u s « . & W e s t .—
1888..............
(157 m .)..
119,527 116,864 106.154 106,381
96.471 113,039 123.287 140,05
130,445 136,184
1 889 .. ....................
(157 m .)..
103,24 ;
91.020
81,470
98.479 110,520 116,l >-0 140,301
145.80 .'
123,274 134,512
1 8 9 0 .;....................................................... (167m .) ..
( 5 ,9 ): 102,722 122,005 144,471 150,054 149,799 147,812 145,716 1( 8,228
104.466
1801.......................................................... (157m .)..
115,088 101,535 100,302 1* 6,933
M o r id lk & W e s t e r n 1888................................................ (554 m .).
380,801 350,768 416,342 896,512 408 ,7 (8
370,764 407.286 432 ,92 - 480,21t- 467,776
1880.................................. (501 to 638 m .)..
3 »8,065 403.019 443,285 417 .»00 420,511 435,904 457,709 517,524 488.053 578.314
1800
................ (638 to i,033 m .)..
657,(20 574 .32 - 049,297 692.036 539,771 5 - 4,031 568,170 584 ,83 ) 507 ,89 - 604.470
1601.................................. ........ (I,u 7 7 m .)..
694,750 626 , 43b
703,277
M o rth e rn C e n t r a l1888
..................................(877 m .).. 452,441 454,751 426,081 486,614 528.996 551,260 502.345 600 ,20.' 568,205 5 «6,840
1889
................................. (377 m .).. 464 ,74» 435,191 471.200 425,171 502,437 416,550 5 *3,004 5- 8 .08« 663.555 630 834
1890............
(377 m .).. 559,118 494,682 558.373 556 ,94 r 530,072 54 -, »52 579,-90 553,60608,278 590,306
............ 1.................. (377 m .).. 495 ,5 '’ 1
1801
637 ,3 (5
M o rth e rn P a c ific —
1888............................(8#77 to 3,498 m .)..
703,607 936,096 1.207,176 1 ,444,868 1,537.289 1 .010.137 1.603,585 1,665,291 1.711.875 2 ,‘ 60,656
1 8 8 9 ..
. . ......... (3,447 to 3,514 m .).. 1,183,398 1, 193,159 1,626,994 1,653,418 1,633.186 1.797. 77 1.925.394 2.091 ,47 1 8 .125,201 2 ,085.102
1890
........................................................................(.3,590.90» 4,089m m 1.923.073 1.064,771 1,930 ,4(4 2,0 ¡ 5.816 2 , 120,66b 2,50»,3 ,2 2 .922,820
1,177.400 1.282 to 1 .670,5 .)..
1801....................................................... (4,237 m ,752 ,13» 1,469,081 1,777,046 *1904608
1.)..
O h io <S M is s is s ip p i—
c
1888.........................
(623 m .).. 304.827 290.678 292,920 270,079 293,701 280 313 275.591 379 .i a
396,602 884,378
1880................................................ (623 m .).. 318,922 289.2b5 309,563 208,459 313.070 200.523 311,078 412 ,00 .
396,-94
414.H
87
1800
........
(623 m .).. 319.768 303,36 - 354 ,70» 314.650 362,001 305 ,9b5 32 «,4 i 0 411 ,1c« 392 ,30« 896 ,4*-8
1801
............................... (623 m .).
328,213 305 ,9)4 3 *0,427 *310,307
O re g o n R a ilw a y dc > a v . C o .—
(752t o 8 5 6 m .).. 272 ,? 98 445.247 558,733 478,053 507.550 530.697 528,094 563 211
1888............................
633.089 731,719
1880............................ ,..(8 7 4 to 950 m .).. 2 ( 4,995 2 5 <,43o 339.465 325,760 374.027 404.828 404 ,***; 885,95
458.109 54«,855
1 8 9 ti....... ........... .................... (1,029 m .).
126,240 222,603 . 03,137 355,220 420 353 438.734 404.549 456 22 * 527.681 605,840
5
1891*...........................................(1,050 m .).. 473,857 347 ,3(0 410,982
P e n n s y lv a n ia —
(A ll lin es east o f P ittsburg & B rie)—
1888 ........................(+2,346 to 2,369 m .).. 4 .193,981 4 379,454 4 .526.562 4 ,650,046 5.087,760 5 ,080.402 4 ,822.412 5 .390.93 •,285,497 5 . 146.158
>
1880 .......................... (2,360 to 2,390 m .).. 4 .528,746 4 ,421,15b 4 ,796,136 5 .( 32.870 5,294,810 3 ,931.020 5 ,2* 1,674 5.9 3.90 i.4V»'7Sa 5 , - 57,772
1890 ..........................................(2 .3 9 0 m .).. 5 ,142,311 4 .051,0 9 ' 5 .470, 15 5 ,019,857 5 ,703.033 5,172,004 0 ,37*
*
5,930,855 5,700,339 6 , 192,101
1 8 0 1 ..
. .......................... (2,435 m .).. 5 ,312,47b 4 ,730,320 5 ,218,706
R ic h m o n d & D a n v ille s y s t e m 1888
............ (2,609 to 2.633 m .)..
831,640 807,171 828,095 734.117 741,845 678,079 738,742 834 ,04 '
875,732 1,080,-84
1889 ......... ................,2,863 to 3,604 m .)..
»20.217 801,870 01 ;.' 5 » 834.655 860.791 » 11.724 93' ,2 .3 992,13
.048,119 1,205.440
1800
(3,"51 m .).. * 11.4037 *1063400 *1060895 *»45.300 1.O 1 .40O 923.040 1 , 021,580 1, 13,011 *114530 * 127»l»U
O
1 8 9 1 * ...........
(3,140 m .) . 1, 161,300 1, 111,325
1 ,066,275
C h a r lo tte C o l. A A u g u s ta —
1888 .........................................(373 m .)..
84,257
92.359
( 8.002
58.042
67.595
71 ,40.
62,158 104,411
57,470
49 ,7 '4
1880..............
.(893 m .)..
a ,999
76.331
83.566
- 9 ,0*:
60, (78
59,247
75 . 17*
71.-24
53 .2 v5
91,475
1690 ......................................... (393 m .).
85 .0(0
84,514
71 , - 7 ;
86 ,8 -0
01,747
64,879
54,202
75,8 ti
*77,300 *95,550
1801»
(393 m .)..
8 b,8 U
0
88,700
b6 ,öu0
78 ,8t 0
C o lu m b ia A G r e e n v ille —
69 ,82 »
57,864
1888
....................................... (296m .)..
57,960
86,897
42.427
40.06
35,884
37.776
32,557
75.710
..
(296 in .;..
1889
68,067
75,226
74,383
43,304
63.578
8(. 5 o
56.03
42.169
41.025
( 7.750
1890
............................. (80s m .)..
8-.8 68
05,70
»1 412
64 .tt*
53,795
50,202
51,631
44.881
*07,000 *00.850
1 8 0 1 « ..................................... (298 in .)..
88.050
93,400
78 , 1-50
V ir g in ia M id la n d —
1 8 8 » ..................................................... (355m .)..
133,209 129,014 133,803 144^43 150.232 151,079 154.92 « 171,811
108,425 183,: 56
1880.......................................................(355m .)..
144,302 132.902 170,7 (9 170^18 185,420 100,059 2« 0.2 44 192,22205 .80 ; 210.815
1890 ...........................................(855 m .).. 100,256 165,30b 103.027 190.648 1 - 3, 38 181,102 190.832 213 ,»7
*209,500 *21«,6»0
175,300 160,700 104,600 187,. 0 C
189 * ....................................... (3 5 5 m .)..
W e s te r n N o rth C a r o lin a 1888...................................................... (290 m .)..
50.674
56,891
62.853
48 ,94»
55,72 H 69 600
46,961
42,573
56,657
62,724
1880.........................
(28? m .) .
72,467
71,723
80,639
02 , 1-8
05 ,3 »»
73.0 6
79,415
69.1 6
71 .7-8
76 ,2 »»
1890 ..................................................... (292 in .)..
73,644
71,151
81,172
82.051
72.075
85 ,45» * 0,- 0 -- *»£>, li 0
67,181
82 ,3 du
1891 .........................................(296 in.)
83 .35 J
90,100
R o m e W a t e r t o w n & O gd ’ b u r g —
213,198 224.058 251.661 251,507 201,617 297,226 300 ,39 - 353,362 324.129 822.349
1 8 6 « ...,....................................................(643in .;..
1880..........................................................(648m .;..
252,312 203.923 267.305 261,308 272,936 201,379 3 (3.4 3 391 ,9*5
82.822 355,741
201.141
1 8 0 0 ..
. ......................................................................(6287,806 340.676 334.505 307,450 320,»03 340,943 386,-55 3 0 .9 W ;-,5 - ,235
<3 in .)..
4
1801
.
(643 in .).. 310,985 287 ,3.-9
820 ,6 t7
B t. L . A lt o n & T , H . B ra n c h e s—
78,840
74.487
77,668
65,104
1888
........................ .................... (203 to 242 m .).
64,541
60,311
78.308
97,694
70,349
«7,679
80 ,2b.
78,008
1889
...........................................(242in .)..
78,043 101,1-8 110 905 125,480
85,316
84.-51
72.358
81,839
9
9 -. 9 -0
89,004
1800
........................................... «242m .;.. ,440
97,062 101,774
95.233 109,623 120,653 131,260 140,271
113,735 lib, 96» 109,u
1801
...
(242 in .;.
97 * 196, ¿70
B t. 1 o u is A r k a n s a s & T e x a s 214,470 220, 10b 202,121
1888
...... . . . .( 1,162 to 1,171 m .)..
172.782 209,065 223,131 219, 13 » 271.783 287,32 « 374 .72265.80
249,5 1 241 ,1 6 ; 2 )7,2 9 232.930 235,892 204,732 3 '8 .M
1889
............ (1,177 to 1,227 m .)..
08 8» 0 ,4»0 515.644
>
1800«.......................................... (1,2 ;7 in .;.. 304,712 297.470 2 ( 6 ,3 ,4 252,652 377,538 205.09 » 3 o-',177 357,642 877,883 49d,4 tV
1891«.......................................... (1,227 m .) .. 340,302 Si 1,031 327,145 2 >1,3U
9
B t. L o u is & » a v F r a n c is c o —
390.920 396,108 446,435 390,483 402.800 494,002 454,880 537.468 577,799 600,686
1888
.......... (1,212 to 1,329 m .)..
420.237 401.135 435,349 423. 14» 434,541 431,350 500,577 578,901 5 - 2.581 857.150
1889
...................................... 1.32»m .)..
448,774 480,383 488 ,82 - 463.450 543,017 47»,818 £55,473 607,443 625,931 711,324
1800.
........................................(1,329 m .;..
>
489,035 471,278
1801...................................................... (l,i>29m .;..
*521,973
B t* t'a u l & D u lu th —
92,581 104,561 182.443 150,966 181,595 165,635 170,704 169,995
64,511
81.871
1888 ..............................(230to 2 4 9 m .)..
60.119
72.234
83 . 14*
1 8 8 9 ..
........................................... (247m .;..
» 5,201 104,474 1( 0,707 122,154 131,2»4 139,540 K 0 .9 J0
77 ,35 * 112,;18
87 243
105.012 130,040 111,153 140,964 138.094 164,000 173,013
1800......................................
(247 m .)..
00 ,70 u
95,140 108,471
1891
.......................
(250 m .;..
B t. P a u l M in n . A M a n ito b a .—
0 810,359 743.455 765,124 825,268 780.995 805 .31 * 972,672
1888*..........................(2 ,6 5 1 to 9 ,0 0 m .).. 482,421 552,012 736.7V
1889«...................................................... (8.0O1 .)..
m 394,117 382,237 642.552 665.098 020.180 593.597 030,699 645.182 959,078 1.240,155
1890*........................
(3,010 m .;.. 500,283 445.014 678,591 747,48- 758,990 755,440 746,328 720.874 1,007,399 1,3 ¿ , 8*3
9
7,*78 789,485
1891* ........................................ (3,010 m .;.. 654,857 534,288 7i>
S o u th e r n P a cific C o .—
1888
.......... (6.576 to 5,931 m .).. 3,240.765 3 ,402,791 3 .892.890 3 ,867 .80 : 3 ,864.297 3.721.714 3 ,739,659 4 .151,623 4.074.8 .1 4,528,751
4
1889
.......... (6,046 to 6,052 m .).. 3 .514.772 3,148,623 3 .452 .1'29 3 .728,051 3 ,751,971 •.604,7 8 4 ,020.134 4,210 .41 4 ,624,1 6
3 138.414 2 .079,952 3 .552,032 3 ,- 50 .56» 4 ,154,-57 3 ,895,742 4 ,079 ,51» 4 .483,770 4, 765,860 4,9 8,310
1800
........................................(6,052m ..;..
1691 .......................................... (6,226 m .;. 3 ,853,191 3 312,360 3 ,70b,440
T e x a s A P a c ific —
540.075 463,068 521,169 438,056 472,005 454,246 472,927 485,477 526,490 685,115
I808.......................................................(1.407 m .)..
I860......................
(1,497 m .).. 529,705 450,603 500,332 501,130 4 - 0,632 447,'-77 490,425 537.233 581,591 814,105
650,931 544,426 504,457 ¡■
25.081 502.004 467,160 514 ,9)4 574,817 688,088 861,495
1890
........................................(1,497 m .;..
614,089 507,5 » 505,454 *520,254
1801 ........... . . . .........................(1,497 m .;..
U n io n P a c ific —
1888
.............. (4,705 to 5,101 m .).. 1,727,832 1.917.938 2 ,513,108 2,539,243 2 .312.191 2 .483.268 2 .544.064 2 ,068,795 2 .740,397 3.033,814
1880..........................(4,816 to 5,180 m .;.. 1,018.108 1.745.758 2. 111.604 2 .153.V 3 ,341,715 2 ,508.239 2 .716 .57 - 3 ,014, 13» 2.9 »8,523 3 .831,820
88
1 8 0 0 ..
.......... ,6,667 to 7,561 w .).. 2 ,427,536 2 ,603,62V 3 ,485 ,5-5 3 ,547,729 4 ,043,4 L 3 ,793.862 8 .887.362 3 ,- 73,014 3 ,940,064 4 .308,092
6
1801...............
....(7 ,6 6 8 m .).. 3,025,792 2 ,082 ,21» 3 ,176,05»
W is c o n s in C e n tr a l—
, 5
228,012 255,472 294.458 286,523 303,017 310,221 327,006 385,644 391,422 428,713
1 8 8 8 ..
. ......................................... (818m .)..
256,684 - (828
1889
........................................................................ 234,531 m 332 ,4*7 290,301 311.290 323,202 371,061 440,53 t 429.708 459.400
.).
325,579 328,614 396.983 394.207 455,469 *446,298 483,730 502,351 508,170 537,001
1890 ......... ...................... (828 to 867 m .)..
1801.
.....
(867 m .).. 371,720 326,502 406.576 *395,540
• Approxim ate figures.

+ And 66 m iles o f oanai.

* Figures Include railroad only, not th e water routes.

T Ineluding fo r tb e fu ll year Seloto V a lley D ivision and M aryland A W ashington (Shenandoah V a lley) D ivision,
b $253,283 has been deducted for the tim e beiog from th e earnings, account o f m ail service claim ed by eom pany.
Em bracing corrections found necessary after m onthly totals




had been published.

N ov .

D ec.

T o t a l.

t

$

140.600
154.762
155^00

110.42= 1,354.56(P
126.330 1,447.937'
134,274 1,510,844

277,445
28M 4D
=•344,785

312,498 2,606,282’
322,326 3,054.144
*347,752 c3,441,944

261,571
203,980
828,*27

285,125 3,125,280
309,205 S,5i '6,725
347,202 3,784,684V

2,994,242
3,113,415
8,090,531

3,000,85! 35,283,584
2,»’81,531 36,056,598
3,0-3,05« »6,256,641

2,260.298
2,479.171
2,514,425

2,141,80 27,009,3582,187,861 27,5 ¡2,023
2,377,635 29,301,700’

459,54«
491.34«
5(6.715

429,869
473,206
482,779

5.340,004
5,650,504
6,029,125»

120,600
139.34
145,119

128.694
124,236
130,048

1,445.901
1.402,466
1,592,088»

427,6: 6
527.819
770.454

409,727 4,890,590
505,454 5.5V-7.128

488,114
528.151
6 6,i41

409.538 6,203,894
500.220 6,069,957
483,400 6.e0>, 79=r

601,018 T8^78,290^

1.898,612 1.481,523 18,060,104
2,220,731 1.001,375 21,741,801
2,599,311 2,281,279 ¿4,402,751
291,588
301,8«8
328,«0;

401,122 3,868,984
357,385 4.0-0,089»
330,525 4,139,958»

615,273
455, 20
558.55

525,534 6,379.797
470,038 4.688.496»
512,781 4,9)4,71»

¡8 t72,07T
(1 514 •45-

1,136,».,.
*1,2 ».125 *1,
93,495
86,872
«96,300

89,774
81.706
*81,7»0

913,76=;
8H-.82&»
C^'ö*,*430 ■

77,712
9 ;.4 3 *97,100

71,930
79, : ()0
*75,980

640,625
769,081
0060,986»

154,512
191.444
*204,050

148,3(1 1,824,673>
10- .501 2,1-9.201
*193,950 02,341,974»

67,249
71,888
♦79.870

63,036
72,002
*79.100

291.231
321,871
300,011

267,368 3,358,104301,041 3.50-, 1 0-'
804,4,17 3,945,102:

82,108
106,623
123.578

108,422
949,307:
104. 87 1.110,4261*25.426 1,836,910-

863.974
8 7.1280972,601.

821
454
437
546,7 Æ
56-sT*«
627,i d
118 487
125.788
142,304

88.590
80.905
115,430

1,524.918
1,301,9(6»
1,494,224

940,357
1,221.806
1,376,649

858,129 9,281,834
730,6 2 1 8. 33,693
974.943.10,135,870»

4,170,715
4.120.053
4,307,270

3,977,893 46,690,614
8.702,884 .6,343,208
4,ul0,6»5 4» ,201,» 95>

650,287
760,261
720,431

658,871 6,374,386
810,469 8,91 7.803
712,766 7,327,710-

2,723.240 2,511.673 30,195.521
2,8 -9 408 2.784,708 31 ,070, 1*2
3,993,124 3,449,574 543040248
344,243
419 ,6*6
457,745

277,635 3,839,566
855,688 4,2(7,0 7
430,107 5,206,114