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E le c tr ic Ra il w a y
SECTION
OF THE
^
O M M E R C Ia T
I ^
y
i M
N
O
i r ^
T O liC L E .
Copyrighted in 1919 according to Act of Congress,by W IL L IA M B .D A N A C O M P A N Y , In office of Librarian of Congress, W ashington, D .C
Vol. 109.
N E W Y O R K , N O V E M B E R 15, 1919.
No. 2838.
"STOCK AND BONDS.”— Under these words are shown—
‘ ‘ S l o c k . ’ ’ — Tho amount of stock a u t h o r i z e d Immediately follows tho word
“stock,” and against this is the par value of single - ares. For example,
The Electric Railway Section, issued twice a year, on the last Saturday “ Stock, $200,000 ($100),” means stock, total issue authorized by charter
In March and September, is furnished w i t h o u t e x t r a c h a r g e to every annual or by Act of Legislature, $200,000, divided Into shares of $100 each; f. p.
subscriber of the Commercial & Financial Chronicle.
following the amount given as outstanding means "full paid.
The Railway and Industrial Section, issued twice a year on the last
“Pref.” means “ preferred stock.” “ Pref. 6% cum.” means preferred
Saturday of April and October, is also furnished w i t h o u t e x t r a c h a r g e to stock entitled to dividends of 6% per annum, such dividends if not paid
every annual Chronicle subscriber.
accumulating, all dividends due and unpaid to be paid in full for each
The Railway Earnings Section, issued monthly, containing the sworn and every year before the common stock receives anything.
Pref. 6%
returns of earnings and expenses of the steam railways of the United States non-cum.” means simply that the stock is entitled to 6% per annum If
filed each month with the Inter-State Commerce Commission, is likewise
earned, but that If unearned in any year the dividend for that year will
furnished w i t h o u t e x t r a c h a r g e to every annual Chronicle subscriber.
not be paid subsequently. “ Div.” means dividend. The last dividend
The State and City Section, issued semi-annually on the third Saturday
^
of June and December, is als» furnished w i t h o u t e x t r a c h a r g e to every annual paid is shown under the column headed ‘ ‘ M a t u r i t y . ’
“ Bonds.” — " Mort.,” “ mtge.” or “M .” means mortgage. “Consol.” or
subscriber of the Chronicle.
“
con.
M
.”
means
consolidated
mortgage.
“
Gen.
M
.”
means^general
The Bank and Quotation Section, Issued monthly, is also furnished
mortgage. “ Ref. M .” means refunding mortgage. “ Coll, tr.” means
w i t h o u t e x t r a c h a r g e to every annual subscriber of tho Chronicle.
The Bankers’ Convention Section, issued yearly, giving tho detailed collateral trust. The amount next following is the total authorized
proceedings of the annual convention of the American Bankers’ Associa amount that can be Issued under the mortgage. Tho denominations In
tion, is likewise furnished w i t h o u t e x t r a c h a r g e to Chronicle subscribers.
which tho bonds are issued usually follow in parentheses. The word
Terms for the Chronicle, Including the six supplements above named, “ gold” is usually spelled out, but In some Instances is contracted to "g ..”
are Ten Dollars per annum within the United States, $13.50 (which in while "cur.’’ .means currency.
cludes postage) in Europe, and $11.50 in Canada.
“ Conv.” means convertible into stock. "S . f.” means sinking fund,
File covers for the Chronicle are sold at 80 c e n t s each (which includes "c .” means coupon; “c*” means coupon but may be registered as to prin
postage). File covers for S u p p l e m e n t s can bo had at same price.
cipal; “r” means fully registered (no coupons); “r*” means registered,
CHICAGO OFFICE.— 39 South La Salle Street.
convertible into coupon bonds; “ c*&r*” moans rogisterablo in either form
LONDON OFFICE.— Edwards & Smith, 1 Drapers’ Gardens, E. C.
and convertible from registered to coupon or the reverse; and "c*&r" moans
that registered certificates without coupons as well as coupon bonds are
W ILLIA M
B.
D A N A
C O M PA N Y ,
P u b lis h e r s .
outstanding. The letters "p .m .” mean per mile, so $15,000 p.m. means
Front, Pine and Depeyster Streets, New York.
that the issue of bonds fs restricted to $15,000 for each mile of track.
“ Guar.” moans guaranteed, and "guar. p. & i. (end.)” means guaranteed
as to principal ar.d interest,’ the guaranty being endorsed on each bond.
[T h is is t h e is s u e o f t h i s p u b l ic a t io n w h ic h s h o u ld
"R ed ." means redeemable. "Trus.” or "tr.” means trustee of the morth a v e a p p e a r e d S e p t . 2 7 , b u t w h ic h h a s b e e n d e la y e d gago.
T A X EXEMPTION.— Where there is a provision in bond or mortgage
u n t i l n o w o n a c c o u n t o f t h e s tr ik e a n d lo c k o u t in t h e
p r in tin g tr a d e s.
N e c e s s a r ily , a s t h e m a tte r h a d b e e n which would seem to make the interest free from the Federal income tax,
we indicate the fact in black-faced letters— tf, meaning tax-free. The
p r e p a r e d f o r is s u e a t t h e e n d o f S e p te m b e r , t h e b o o k Federal Act approved Oct. 3 1917 provides, however, that only ono normal
c o n t a i n s n o i n f o r m a t io n o r re c o r d o f e v e n ts o f a la t e r 2% income tax shall be deducted at the source and that all further Federal
d a t e t h a n t h a t — in o t h e r w o r d s , t h e n e w s a n d d e v e lo p income taxes shall be met by tho recipient of the income. See terms of Act
in V. 105, p. 1373. Where there is no tax covenant we insert the letters
m e n t s o f O c t o b e r a n d N o v e m b e r f in d n o p la c e in i t .
ntf, meaning n o t tax-free, tff means free from normal Federal Income
T h e n e x t n u m b e r o f t h e E le c t r ic R a ilw a y S e c t io n w ill tax up to 4 % . Where we have no knowledge other than that tho company
a p p e a r a t t h e e n d o f e it h e r M a r c h or A p r il 1920.]
has assumed or is paying the tax. we insert the letters cpt, which means
that c o m p a n y p a y s t a x , a t l e a s t f o r t h e p r e s e n t
Until tho courts havo passed
both upon the various features of the tax and the effect of the several tax
clauses
In
tho
bonds
and
mortgages.
R
is
impossible
to give more definite
M A P S A P P E A R IN G I N
T H IS ISSU E .
information.
“ DATE.”__The date of issue on the face of the bonds is indicated
For the purpose of showing in a graphic way the
the word ‘ ‘Dale."
location of their lines, a few of the more important under
“ INTEREST.”— Under this heading is given the rate per cent yearly
systems described in this issue of the “ Electric Rail of the interest payable on the bonds or (if guaranteed) of the dividend
payable on the stock: also the months when the Interest or dividend is
way Section” are accompanied by maps. The fol payable; thus “ 6 J-J” means 6% per annum payable January and July;
lowing furnishes a list of these maps in the current correspondingly "F -A ” is used to mean February and August: "M -8 "
means March and September, and so on; while "Q-J” means quarterly
number, together with the pages on which they beginning in January, and “ Q-F” quarterly beginning in February. (The
day when the interest payment is due can generally be determined by
appear.
L IS T OF M A PS.
Page. noticing when the loans mature, the day of the month there given being
in most cases the same as for one of the interest dates.) “ S.-a.” means
semi-annual.
“ ROAD.”'—The word "track” means in street railway parlance all
tracks, whether main tine, siding, switch or second track. “Rails are
80-lb. girder” means that each rail weighs 80 pounds to the yard, “k.w.”
means kilowatts and “b.p.” means horsepower, “k.v.a.” means kilo-voltamperes. “ P-A-Y-E cars” means pay-as-you-enter or prepayment cars.
"Exts.. add’ns and impts.” means extensions, additions and Improve
ments. “ Auth.” means authority or authorized. “ Oth. ir.c.” means
other Income. “Cal. year” means calendar year.
E X P L A N A T IO N S OF T E R M S A N D
A B B R E V IA
REFERENCES TO “ CHRONICLE.”— This supplement Is expressly
intended for use in connection with the investment news and official reports
T IO N S U SE D .
published from week to week in the “Chronicle.” Frequent reference Is
The following is an explanation of the terms and therefore made to the volume and page of tho "Chroniclo” (as V. 109, p.
000), where fuller Information may be found. Following also each state
abbreviations used on succeeding pages in the pre ment is given a reference to the latest news item in tho "Chronicle” re
the company. As every such Item contains a reference to tho
sentation of the statements of the different com specting
la^t preceding item, the reader can run back at pleasure. Annual reports
are in black-faced figures.
panies:
E
l e c t r ic
R
a ilw a y
S
e c t io n
.
Detroit United Railway System----------39
Georgia Light, Power & Railways-------------------------------67
Illinois Traction System______________________________ 20
Public Service Corporation of New Jersey-------- 80 and 81
United Light & Railways Cc__________________________ 60
E lectric
R
ailways.
SECURITIES AND REPORTS
T h is is one of our six Sections or Su pplem en ts.
In using the series it is to be remembered that they are in ter-d ep endent
publication s, com plete only as a w hole.
I f utilized together, and with the fresh item s of news the “ Chroniole” oontains from
w eek to w eek, the investor will have all the inform ation he needs in seeking a safe and remunerative lodgm ent for his m o n e y .
A full In dex showing where each com p an y will be found is given in the closing pages of the book .
A K R O N , O H IO .
NORTHERN OHIO ELECTRIC C O R PORATION .— A holding co.
Incwp. In New York on Oct. 18 1916 and owns over 99% of the common
■took o f the Northern Ohio Trac. & Lt. Co. Also controls the Kent Water
& Light Co.
C A PIT A L IZA T IO N .— 75.000 s h a r e s o f common stock (no p a r value)
S8.000.000 6% cum. p r e f . stock ( p a r $100); p r e f . a s to a s s e t s a n d diva.;
B a ila b le at 105 a n d d l v s . ; divs. p a y a b l e Q.-M .
Dividends on p r e f . stock,
were b e g u n Mar. 1 1917.
Hodenpyl, Hardy & C o., Inc., N . Y .. and E. W . Clark & C o., Phlla.,
under whose direct supervision and management the properties are oper
ated, brought out the $6,000,000 preL stock in Oct. 1916 on the basis o f
10 shares o f pref and 5 shares common stock for $1,000
E A R N IN G S.— Of constituent companies for calendar years:
Year—
Gross
Expenses.
Net.
Charges.
Surplus.
1918
..... $7,293,811 $ t .814,012 $2,479,768 $1,773,637 $706,131
1917
.
6.469,035
4,024,275
2,444,760
1,522,919
921,841
Latest Earnings.— For 7 mos. end. July 31:
1919
__ $5,116,186 $3,377,160 $1,739,026 $1,154,030 $584,995
1918
__ 4,100,334
2,642,169
1,458,166
998,505
459,661
— V.104, p. 1703; V. 106, p. 396, 1127; V. 107, p. 501; V. 109, p. 888.
N orth ern O hio T raction & L ight Co.
Over 99% o f the com. stock is owned by the Northern Ohio Electric Corp
O R GAN IZATION .— Incorp. in Ohio In Dec. 1902 as successor to the
Northern Ohio Traction Co., having exchanged its securities for the com
mon and pref. stock o f the latter per terms in V. 75. p. 733. In 1906
acquired control o f the Oanton-Akron Consol. R y., ana guarantees that
company’s $2,500,000 consol. 5s, prin. and int. V. 83. p. 435, 849. Also
owns entire capital stock o f Akron Wadsworth & Western Trac. Co. and
guarantees its bonds prin. and int. Common stock listed on N . Y . Stock
Exchange in March 1909.
franchises.— The electric light and power properties are operated under
rights without specified limit as to duration. City railway franchises expire
as follows: Akron, 1924; Canton, 1928; Massillon, 1932. 55% of the Inter
urban trackage is on private right-of-way or subject to franchises without
time limit; franchises for remaining lnterurban mileage expire from 1919
t o 1931.
'
' On Oct 19 1915 the Ohio Supreme Court held that the franchise granted
for an indefinite period by the Stark County Commissioners in 1892 (cover
ing about 4)4 miles between Canton and Massillon outside the city limits)
was not perpetual as claimed by the company—see V. 101. p. 1371. The
company appealed to the U- 8 Supreme Court, and on Jan 28 1918 a de
cision In its favor was rendered. V. 106, p. 608.
In Oct. 1917 renewed for 5 years a contract for lighting city of Akron.
Shareholders Jan. 24 1914 sanctioned Increase in auth. amount of pref.
stock to $5,000,000 for financing further additions, extensions, &c. V. 98.
p. 74. On Oct. 2 1916 auth. amount o f pref. stock was further Increased
to $10,000,000. V. 103, p. 1302.
Fares.— In Sept. 1917 filed a new schedule o f lnterurban passenger rates
with the Ohio P. U. Commission, raising the rates generally to 2c. a mile.
V. 105, p. 998. In Sept. 1918 was auth. by the Ohio P. U. Comm, to
Increase lnterurban fares to 2 >4 cents per mile where no local franchises
conflicted. On M ay 31 1919 an ordinance increasing fares from 5 to 6
cents was submitted to the people of Akron and defeated by a vote of about
five to one. V. 108, p. 2241, 2330.
In April 1919 applied to the Ohio P. IT. Comm, for auth. to issue $5,
995.000 ref. bonds ($3,000,000 to bear int. at 4% and balance at 5% )
and $713,000 1st mtge. 5s. V. 108, p. 1 6 1 7 . ___
i In June 1919 brought out an issue o f $4,600,000 7-yr. 6% gold bonds to
provide for the payment o f $2,995,000 1st M . 5s which matured on July 1
1919 and to reimburse the co. for construction expenditures. In connec
tion with this financing, $1,450,000 7% secured serial bonds were called
for payment July 10 1919. V. 108, p. 2433.
Interest. Outstanding. M aturity.
STOCK AND BOND3—
Dale.
______
8ee text
See text
Stock com, S10,000.000(S100)-----Q-J
$5,433,000 Oct.T9, 1M
Pref $10.000.000($100)6%cum----4 610.000 Aug 11956
1st Hen A ref. mtge. g. ($100. 1916 5 g F-A
Int. payaole In N. Y. or Cleveland.
$500, $1,000, &c.).c*&r*.
3.220,000 Jan 11933
Northern Ohio Traction & 1903 4A5 g J-J
Light 1st consol ($1,000). Int. at Oit. Sav. Ik Tr. C o.. Cleve., Trustee,
or at First N at. Bank. New York.
gold. *7,500.000------c*.tf
5 «*
See text July 1 1933
Ak Wads & West mortgage, 1906
$500,000 guar ($1.000' - - t f 1
Secured bonds see text ($100,1 1919 6 g J-D 1 4,600,000 June 1 1926
$500 & $1,000) g___ c * --tf (Bankers Trust Co., N. Y .. Trustee.
' Stock.— Of the common stock, $9,100,090 is outstanding, in addition to
which $899,910 has been subscribed for but not yet issued. The pre
ferred stock is redeemable, all or part, at 110 and div. on any div. date. Is
pref. as to div. and assets and has full voting power. V. 92. p. 956; V.
95. p. 43; V. 97. p. 1116.
Bonds.— Additional 1st lien and ref. bonds may be Issued (a) par for par,
for refunding or acquiring the $9,632,000 underlying bonds; (b) for 85%
of cost of new construction, additions, betterments and extensions and
(c) for 85% of cost or replacement value of additional properties, under
conservative restrictions. The bonds are secured by mortgage on entire
property, subject to underlying lien3, and by deposit of $4,000 of 5« and
are pledged as security for the $4,600,000 7-yr. 6% bonds. Redeomablo as
a whole, or in part, on any int. date at 105 and interest. The mtge. pro
vides for a maintenance and depreciation fund of 20% of gross earnings for
maint. and replacements, or for additions and bettermouts, against which
no bonds may be issued; also provides for an insurance reserve for damage
claims, &c.. of 4% of gross earnings until $100,000 is reached, at which
figure the fund is to be maintained. Trustees are New York Trust Co..
N. Y ., and Citizens Savs. & Trust Co., Cleveland. V. 103, p. 1210. Of
the Northern Ohio Trac. & Lt. consols $996,000 are 5s, all outstanding;
the rest 4s. The 7-yr. 6% bonds are secured by a pledge of $5,750,000 1st
lien A ref. 5s. Additional 7-yr. bonds may be issued from time to time
under certain conditions upon the deposit of cash or the pledge of 1st lien
A ref. 5s in the ratio of 125%. Red.,'all or in part at any time upon 30 days’
notice. V. 108, p. 2433.
On Jan. 24 1914 stockholders approved action of directors in providing
for the payment of Federal income tax upon the various issues of the com
pany’s bonds.
CANTON-AKRON CONSOLIDATED RAILWAY.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Consol M $2,500,000. gold.f 1908 5 g J-J
$856,000 Jan 1 1933
guar p & I by North OhioUnt. at Citizens Sav. & Trust Co.. Cleveland.
Trac Sc Light ($1,000) c*.tf i Trustee, or First Nat. Bank. New York.
Oanton-Akron 1st mortgage,/ 1902
5 g M-S
1.145.0C0 Mar 1 1922
*2.000.000, g i* 1 .000)cV tf!Im . at Columbia Tr.Co.. N. Y. Tru.tee
Oanton-Massillon 1st mortf 1900
6 g M-N
840.000 May 1 1920
$1,000,000. g ($1,000; . -tf( Interest at Cleveland Trust (Jo.. Trustee, or
[ at Guaranty Trust Co.. New York
1st M Can & N P. *1.000.0001 1903 5 g F-A
565,000 Feb 11923
gold ($1,000)-----------c*_tf l Int. at Am. Ln. & Tr. Co.. Boston, Trustee.
Bonds.— Of the *2.500.000 consolidated bonds. $1,243,000 are pledged
under N. O. T. & L. 1st & ref. mtge., and $290,000 are reserved for extons,
and Imp. at 85% of cost. S. Reed Anthony, Boston, is also trustee. V. 91.
p. 1628, 1765. Neither Issue is subject ta caM. The Canton-New Phila
delphia bonds may be called as a whole at 105 and Int. on 3 mos.’ notice.
Dividends.— Pref. stock was Issued in 1911 and dividends of 1)4% quar.
are regularly paid. Dividends on com. were begun In 1906 by the declara
tion of 2 % , payable in quar. installments of )4% from June 15 1906.
V. 82. p. 1213. ln 1907 2% was again declared, payable In quar. in
stallments from June 15 1807. Inl908, June. X % :S e p t.. H % ;D oc.. X % .
In 1909. 1 « % . In 1910. 2 X %• In 1911, 3 )4 % . In l5l2. 4 )4 % . In
1913 to 1916, 5% per annum. In 1917. March, 1)4% ; May, 1)4% : Aug.,
1H % : Nov.. 1 )4 % - Practically all of the common stock being owned by
the Northern Ohio Electric Corp., dividends are a* laager reported.
PLANT.— Line extends from Cleveland through Akron, Canton, Mas
sillon and New Philadelphia to Uhrlcbsvllle in Tuscarawas County, with
branches to Ravenna (via Kent), co Wadsworth (via Barberton) and to
East Greenville from Massillon. Oa Dec. 31 1918 operated 248.91 miles of
track, and operated 5 miles ander trackage rights affording an entrance into
Cleveland. Owns Lakeside Park ln Akron aad Meyers Lake Park in
Canton. Also owns 1,011 acres of coal land in Noble County. Ralls,
70 to 114-lb., standard gauge. 81 lnterurban, 2SS city and S7 miscel
laneous cars. Does the exclusive commercial electric light and power
business in Akron and supplies energy, directly or indirectly, to 9 other
communities. 3 generating stations with an aggregate Installed capacity
of 72,500 k.w.; 17 sub-statians. A 4-story affice building and passenger
terminal in Akron was npened May 1 191$.
REPORT.— For calendar years:
Calendar
Gross
Net Interest, Frcf. Die. Com.Dit. Balance.
Year—
Earnings. Earnings. Tares, etc
(6% ). (5%). Surplus.
1918--.......... $7,224,142 $2,478,45# $1.475,338 $3<)S.75i *637.006 $57,S8f
1917............. 6,389.609 2,456.938 1,27«.»8»
299.19# 477,752 412,129
OFFICERS.— Pres., B. O. Cobb, N. Y .; Y .-P .. T. A . Kenney. N. Y.
V.-P. A Gen. Mgr., A. O. Blinn; Sec.. Chas. H. Lahr; Asst. See. & Asst.
Treas., S. E. Wolff and Gen. Sprague Jr.; Gen. And., G. B. Dobbin.—
V. 108. p. 1061, 1617, 2241, 2330, 2433, 252$; T. 199, p. *71, 477.
A L B A N Y , N. Y .
UNITED TRACTION COMPANY.
Entire stock (except 4 shares) Is owned by The Delaware A Hucfcion Oo.
V. 81, p . 1552; V. 82, p. 169. The D. & II. also owns the entire stook of th*
Troy & New England R R . and the Ptattsburg Traction Co. and a half
Interest in the Schenectady R y .. the New York State Rys. owning other half.
O R G A N I Z A T I O N . — Chartered Dec. 30 1899 as a consolidation of the
A lb a n y R y. (chartered In 1850). the Watervllet Turnpike & R R . (chartered
in 1862) and the Troy City Ry. (chartered ln 1850). See V. 69. p. 1137,
1300; V, 70, p. 77. Operates under leases to the constituent companies,
the Troy & Conoos R U „ Lansingburgh & Cohere R R ., Waterford A Cohoes
R R ., Cohoes Ry. and the Capitol R y. Owns 97% of the stock or the
Hudson Valley R y . , 71% of the Waterford & Cohoes R R ., 80% of the
Forest Park Ry. and all the capital stock of the Capitol R y.. Cohoes R y.
and Great Western Turnpike Road.
The Cohoes City Ry. was sold at foreclosure In 1904 and reorganized as
Cohoes R y. Co., with $129,000 stock and *84.000 bonds; all of the stock
and bonds are deposited with the Central Trust Co. of New York as security
for bonds o f the Albany Ry.
Acquisition of Hudson Valley.— In Dec. 1906 acquired a majority of the
stock and bonds of the Hudson Valley R y. Co. and increased its own stock
from $5,000,000 to $12,590,900 to finance the purchase. V. M u P
Franchises perpetual except that of the Capitol Ry. (a short line on the
outskirts of Albany), which expires in 1951.
Traffic Agreements.— Has trarric agreements with the Albany Southern
R R ., Schenectady Ry. and Hudson Valley R y. by which cars of the firstnamed road are run into Albany from Rensselaer, cars of the Schenectady
R y. into Albany, Troy and Watervllet, and cars o f the Hudson Valley Ry
into Troy from Waterrord and in Albany.
*
Electric power is furnished under contract by Adirondack El. Pow Corp
Strike— Settlement— Wages.— In June 1918 a strike of the c o .’s employees
was terminated by G ort. intervention, the men compromising on a wage
increase of 6)4 cents per hoar. Y . 106, p . 2451; T . 197, p. 505. On JuW
31 1919 the men accepted a sliding wage scale rahroaattT* tn Jnly 1 1919.
thereby averting a threatened strike. Y. 109, p. 67$.
In Aug. 1918 was auth. by the N. Y . P. S. Cnmm. to increase fares in
Albany, Troy, Rensselaer and other places from 5 to C cents and to 12
cents for some of the longer rides. See V. 107. p. 697.
Neither the company’s 4)4% debentures, due May 1 1919 nor tho
Watervllet Turnpike A KB. 1st and 2d natgs. 5s had been retired to S«ot. 24
1919.STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity.
StCK-k (par $1 00L f 12.500,999------- 4 J-J
$12,500,000
See text
Debentures. $1,250,000, gold 1901
4 X g M -N ' ' 456,000 May f 1919
(*1.000)......................r-ntf Int. at National Commercial Bank, Albany.
Cons mtge, $0,500,000, geld 1904
4)4 g J-D
2.020.000 June 1 2004
($1.000)....................... c* tf Int. at Central Trust Co., N. Y .. Truotee.
Albany Ry cons M ($509,000/ 1890
5 g J-J
428.000 Jan 1 1930
gold ($1.000)......... -c*_ntf Int. at Central Trust Co., N. Y .. trustee.
Albany Ry gen M $759,000 1897
5 g J-D
498.000 June 1 1947
gold------------------------------ tf Int. at Central Trust Co., N. Y ., trustee.
Watervllet Turnpike A RR— 1889
8 M-N
350.000 May 1 1919
1st M guar...................ntf Boston Safe Dep. A Tr. Co.. Trustee.
2d M , p A Int guar___ ntf
1890
6 M-N
150.000 May 1 1919
Metropolitan Trust Co.. N. Y., Trustee.
Troy City 1st oon M . gold. 1892
5 g A-O
2.000.000 Ort 1 1942
$2.000.000................... !**;r Int. paid by Trustee. Csntral Trust Co.,N.Y.
Bonds.— Of the consol, mtge. of 1904, $3,889,099 Is reserved to retire prior
liens. Noig*. fd. and bonds are not subj. to call. Directors may fix rate of
Int. on uniwued bonds bat not oxccedlng 5% ; present lssneisat4X%- Tha
debs, may be called on aay Int. date on 3 mas. notice at “a 5% int. rate for
the unexplrod term as calculated In staadard lat. tables.” Y. 73. p. 1113.
^k®AU>*ny By. Keaeral mortgage of 1897 was for $750,090. of whlcb
,000 w u reserved, but consolidation made reservation inoperative.
The Troy City leased roads Include Troy A Cohoes, stock $50,000. diva,
under lease, 7% ; Lansingburg 3c Cohoes, stock. $15,005; dlvs. under lease.
7 % . The Waterford A Cohoes RB. $25,005 stack receives 7% yearly
under leave.
DIVIDENDS.— First quar. div.. I X % . was paid May 11900; same rate
continued up to and incl Nev. 1905. For year 1906/6X% was paid. On
Dec. 31 1906 stock was Increased from $5,000,000 to/* 12.500.000 and dlvs
made semi-annual (J.-J.) and 4% was paid in 1957, 2 % Jan. 1 199$ and
2% each six months thereafter to and in d . 1913. In 1914, 2 % . Nnnn
since.
ROAD.— Operates
miles o f first main lino track and operates in
all 112.04 miles of track, o f which 94.35 miles owned, connecting Albany.
Troy, Cohoes, Rensselaer. Watervllet. Lanslngburg. Green Island, W ater
ford, &c. Rails, 47 to 141-lb. Girder aad T . Standard gauge, n a s 485
cars.
EARNINGS.— For cal. years:
Year—
Gross.
Net.
Other Inc. Chts ATac.
Deficit.
1918.....................$2,530,057 $318,610 $190,745 *612.120 def.$132,745
341.959
161,483
693.798 dof. 95.356
1917.................... 2,458,848
1916_____
2.444.058
409,669
155.627
577.783 dof. 12.495
OFFICERS.— Pres.. L. F. Loree. N. Y .; Y .-P .. W. H. Williams. N. Y .;
V.-P., H. B. Weatherwax. Albany: Y.-P. A Asst, to Pres.. W. B. Schofield;
Sec., F. M . Olyphant; Aud., D. L. Waters, Albany; Treas O. A. Hoag;
Comp., W . E. Eppler, N. Y.; Gen. M gr.. A. Jl. Reynolds, Albany. Princi
pal office, Albany.— V . 107, p . 503, 607,1188: V. 108, p . 1270; Y. 109, p.5f3.
63.159
N ov., 1919.]
ELECTRIC RAILWAYS
3
(1) Hudson Valley Railway.
E A R N IN G S.— Years ending Dec. 31:
In Dec. 1906 the United Traction Co. of Albany acquired control through
Cal. Year—
Gross.
Net.aft.Tax. Bond Int.
Surplus.
purchase of a majority of the capital stock.
1918...........................................$104,268
$30,465
$16,250
$14,215
ORGANIZATION.— Incorp. Aug. 14 1901 as a consolidation of the 1917........................................... 83,397
28,650
15,000
13.650
Glens Falls Sandy Hill to Fort Edward Street Ry., Warren County Ry.t
R O A D .— Operates 11 miles of street railway connecting Hocking, Albla
Stillwater & Mechanicvllle Street Ry.. Greenwich to Schuylemrille Street and HIteman. 60 and 70-lb. T rail; standard gauge.
Ry.. Saratoga Traction Co. and Saratoga Northern Ry., the capital stock
OFFICERS.— Pres.. Albert L. Fowle; V .-P ., Merle R . Walker; Sec.,
of these roads being exchanged for stock in the new company. V. 73, p.391. M . A. Day, all of 61 Broadway, N. Y . City; Treas. to Gen. M gr., Ralph
Owns all the stock ($200,000) and all the bonds ($200,000) of the North W. Boyer, Albla.— V. 103, p. 939; V. 105, p. 496.
River Ry., a road operated in Saratoga by this co. Franchises perpetual.
Financial Readjustment.— A readjustment of the company’s finances was
A L L E N T O W N , PA.
effected in 1906 without foreclosure as per plan In V. 82. p. 100, 1040. In
LEHIGH POWER SECURITIES C O R PORATION .
March 1906 $2,600,000 5% non-cum. pref. stock was created to provide for
O RGAN IZATION .— Incorp. July 19 1917 in Del. and has acquired,
the convertible features of the debenture "B ” bonds. V. 82. p. 751.
Traffic Agreements.— Has traffic agreements with the United Trac. Co., (o) All the stock o f the Lehigh Navigation Electric Co. (formerly con
and Greenwich to Johnsonville Ry., by which cars of the Hudson Valley trolled by the Lehigh Coal to Navigation C o., which see In V. 105. p . 7201,
Ry. Co. are run over the lines of the United Trac. Co. from Waterford and through such acquisition control of the Harwood Electric Co. and other
to Troy and also In Albany, and cars of this company are run over the subsidiaries; (b) a substantial majority of both classes of stock of the Lehigh
Valley Transit Co., and through such acquisition control of the Lehigh
Greenwich to Johnsonville at Thomson. N. Y .
Valley Light & Power Co.; (c) approximately all the pref. and com. stocks
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
o f companies formerly controlled by the Northern Central Co. The con
Common. $3,000,000, par $ 1 0 0 ____
_______
$2,978,300 ............. ..
trolled companies supply electric light and power to 31 cities and towns;
Preferred ($2,600,000 (s e e l____
______ _
See text
__________
gas service to 13 cities and towns, and have charter rights in 70 townships;
text). 5 % non-cumulatlve./
_
17 townships are served by interurban railways. Franchises generally. In
First consolidated mortgage/ 1901
6 g J-J
2,222,000 July 1 1961 the
opinion o f counsel, are free from burdensome restrictions, and a very
$4,000,000 (denomination!Interest at Manufacturers' Nat. Bk., Troy.
substantial part of them is perpetual. For full description o f properties,
$1,000 gold)_________ c*tf IMay be called at 110 to lnt. on any lnt. date
Deb "A ” Income. $700.000.. 1906
5g
474,000 Jan 1 1951 &c., see V. 105, p. 498, and Lehigh Valley Transit Co. below. See also
105, p. 290 and 818.
Deb “B” Income. $2,500,000. 1906
2g
2,500.000 Jan 1 1951 V.Lehigh
Navigation Electric Co. Bonds.— In connection with the acquisition
Underlying Liens—
. _
f control o f this co. by the Lehigh Power Securities C o., the mortgage of
G FS H& F E 1st M (no opt) 1 1891 8 3-J
100.000
Pastdueothe
Lehigh Navigation Electric Co. was closed, the Lehigh Coal to Navi
($500 and $1,000) gold...c/Oentral Trust Co.. New York. Trustee,
gation Co. retaining ownership of the $3,000,060 Series “ A ” bonds issued
do
2d M ($500) gold.c/ 1893
6 J-J
50,000
past due
lint, at Merchants Nat. Bank. Glens Falls, thereunder, but giving the Securities Corp. an option on the purchase of
do
3d M ($150,000)ntf
1901 6 A-O
82.000 April 1 1921 the same running to 1921.
STOCK A N D BONDS.— Date.
Interest. Outstanding. Maturity.
IMay be called at 100.
•
Stock 605,000 shs (no par v a l ) _ ------------------- 305.000 s h s __________
Still to Metb first mortgage../ 1893 6 A-O
47,500
pastdue.
\Bankers Trust Co., New York. Trustee,
Secured gold notes, 550,000,-1 1917
6 g F-A
See text Aug 1 1927
000($100.S500&$l,000)c*tf fln t. in N . Y. Guar. Tr. C o.. N . Y ., trustee.
do
do
soasol m tge-.l 1898
6 A-O
202,500
past due.
Bonds of Controlled Companies in Hands of Public as of June 30 1917—
$250.000_________________ /Glens Falls Trust Co., Glen* Falls, Trustee.
Northern Central Croup— Date.
Interest. Outstanding.
Maturity.
Bonds.— Of the $4,000,000 M . of 1901, $482,000 are set aside for prior liens
and $1,290.000 have been deposited as coll, for temporary loans. The deb. Northumb. Co. Gas & El. C o.—
**B” bonds were conv. Into pref. stock at par te March 1 1917. Int. on
1st M . s. f. bds., call. 1051 1911
5 g M-S
$1,139,000 Sept 1 1948
any lnt. date______ ____/ Int. at office of Henry to West, Phila.
the deb. " A " and " B " bonds is neither cumulative aor obligatory. No lnt.
has keen paid oa either elass. The G. F. 8 . H. to F. E. 1st M . fell due Hagerstown L. & H. Co. of)
1912 5 g F-A
291,000 Aug 1 1962
Wash. Co. 1st M . call atfln t. at office of El. Bond to Sh. C o., N . Y. O,
July 1 1911. but was extended and is now past Ome: 2d M . fell due July 1
1913. Both Issues ef Stillwater & Mechanicvllle heads fell due April 1 1913.
at 103 any int. date_______
1912 5 g F-A
775,000 Aug 1 1962
WARNINGS—
Operating
„
Other Charges * Balance, Nor Cent Gas Co 1st to Ref
$4,000,000, call at 105 any Int. at office of El. Bond to Sh. C o.. N . Y . O .
Tear ending—
1 Kerennes.
Net.
Interne.
Taxes.
Deficit.
int. date_________________
See. 31 191*........... *1,136,964 $234,890
$5,705 $358,959 $118,364
400,000 Feb 11939
f.985 341,737
13,239 Williamsport Gas Co 1st M . . f 1899 5 g F-A
•ee. 31 1917............ 1,825,015 323,412
(Interest at Girard Trust C o., Phila.
ROAD.— Mala Hne extends from Troy northward along the Hudson Columbia to Montour El. Co.—
through the villages and towns of Waterford, Mechanicvllle, Stillwater,
1st M call 105 any int date/ 1913 5 g F-A
577,200 Feb 11943
Bchuylerville, Thomson, Fort Edward. Sandy HIM, Glens Falls and Cald
2d M call 105 any int date.! 1913 5 g F-A
567,400 Feb 1 1943
well to Warrensburg. The Saratoga Division, which branches off the
lin t, at office of El. Bond &Sh. C o., N . Y . O.
main line at Mechanicvllle, provides a line from Troy to Round Lake. Other Issues___________
5 g var
20.300
1922-32
Ballston Spa and Saratoga, with a branch from Saratoga Springs to Glens
Lehigh Navigation Electric Group—
Falls, which branch was completed In June 1903. There Is also a branch Leh N El Co ($10,000,000) 1st M :
line from Saratoga Springs to Kaydeross Park on Saratoga Lake and an
6 J-J
“ A " call 107 H any int date. 1913
3,000,000 July 1 1943
other from Thomson to Greenwich. Total first track, 116.09 miles; second
6 J-J
•‘B "call at 100 any int date. 1913
950,000 July 1 1943
track, 12.01 ra.; sidings, $.75 m.; making a total of 136.85 miles of track, Harwood Electric Co.—
of which 124. S miles are owned. Ralls. T, girder and grooved, 48 to 141
5 J-J
1st M call 107K any int) 1909
____
.
751,700
July 1 1939
lbs. Standard gauge: 70% on private right of way. Operates 125 cars
d a t e __________________ /Interest at Girard Trust C o., Philadelphia.
including 3 freight and 24 service cars. Company swas Kaydeross Park at
1st to Ref M ($10,000,000)1 1912
6 M-S
2,181.000 Mar 1 1943
■aratoga Lake, and Ondawa Park, between Greenwich and Thomson. ’
callable at 107H_______ /Interest at Girard Trust C o., Philadelphia.
5 J-J
25,000 Dec 15 1920
OFFICERS.— Same as for United Traction Oo.— V. 89, p. 286; V 108 Stroudsburg El L & P 1st M — -----Schuylkill Gas to El 1st M .................
6 A-O
106.300 April 1 1943
p. 1274.
______
Hazelton Steam H ’tlng C o l -----5 M -N
3,000 Nov 1 1929
ALBANY SOUTHERN RR.— Third rail, except in cities.
1st M callable at 100_____ /Int. at Hazleton (Pa.) National Bank.
ORGANIZATION.— Incorporated In New York Sept. 14 1909 and Is a
Lehigh Valley Transit Oroup— See Lebigb Valley Transit Co. below.
reorganization of the Albany to Hudson RR. Co. sold tinder foreclosure on
Voting Trustees for Stock.— Irving W . Bonbright, Bonbrlght & C o., Tnc.;
Sept. 8 1909 (per plan V. 89. s . 223). On Sept. 18 1909 merged Albany to George H. Frazier. Brown Bros, to C o.; S. Z. Mitchell, Pres. Elec. BondA
Grcenbush Bridge Co. V. 89, p. 720. Franchises are perpetual. Does a Share C o.; Lewis E. Pierson, Chairman o f Bd. of Irving Nat. Bank, N . Y .;
passenger, freight and express business and supplies light and power S. D. Warriner, Pres. Lehigh Coal & Nav. C o.; O. M . Dahl, V.-P. Cnoite
along route.
*
Nat. Bank, N . Y .; Alexander J. Hemphill, Chairman Guaranty Tr. C o..
In June 1918 was auth. by the N. Y. I1. S. Comm, to issue $2 151 990 N. Y .; Thomas Newhall, Edw. B. Smith & Co.; Daniel E. Pomeroy, V.-P.
1st Hsf. M . 30-rcar 6 % bonds, $1,451,000 to be used to exchange a ’like Bankers Trust C o.. N. Y .. and William West. Henry to West. Phiia.
amount of 1st M . 5% bonds and $700,000 to b« pledged as security for
Notes.— Over $18,000,000 notes have been subscribed for. The terms of
9550,800 3-year notes, the proceeds of the notes being used to reimburse subscription provide that 40% bo paid upon allotment and the remainder as
the treasury, to discharge floating debt outstanding, and for proposed new called by the co. on written notice of at least 20 days, the subsequent In
•oinstruction work amounting to $190,683. V. 109. p. 2449
In March stallments to be at least 30 days apart, and no one o f said installments to
1019 we were informed that the $550,000 notes had been issued $700 000 be for more than 10% of the amount subscribed. Subscribers have the
1st Ref. *s being pledged thereunder.
right to anticipate all or any part, of their subscriptions at any time. As a
Fares.— In Nov. 1918 the P. S. Comm. auth. a new schedule of rates result of calls for payment and of payments in anticipation of future calls
effective Dee. 1 1918, providing for a one-way rate of 2 lA cents per mile
he amount of notes outstanding as o f July 1 1919 was $16,640,400. The
round trip rates to be double the one-way fares.
Electric Bond to Share Co. will deliver to each subscriber 4 shares or the
Securities Corp. stock with each $1,000 o f notes when subscriptions have
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Gommon $1,375,000 ($108).................................
$1,375,000
maturity. been paid in full. The stock may be deposited in a voting trust.
The collateral for the notes Includes (a) the entire capital stock o f the
Pref $2,100,000 5% »-« ($100)-----F-A
2,029,000 Aug"riT « %
First mortgage J1,580,0001 1909
5 g M-S
1,421,000 Sept 1 ’19^9 Lehigh Navigation Electric C o.; (ft) a substantial majority o f the stock of
the Lehigh Valley Transit Co.; (c) the bulk of the outstanding stock Issues
gold ($1,000)..............c* t f [Bankers Trust C o.. New York. Trustee
of the Northern Central Gas C o., Columbia & Montour Electric C o., and
First Ref Mtge $3,000,000 1918
6 g M-S See text
Mar 11948
Northumberland Co. Gas to Elec. C o., as shown in V. 105, p . 818. It Is
gold ($1,000)...................../Empire Trust Co., New York, Trustee
Three-year note*. $560,808 1918
7 g M-S
550,000 Mar 11921 expected that the corporation from time to time will sell part or the securities
deposited under such trust agreement, the proceeds to be used for the pur
gold ($1,000)------- ----------- /Brooklyn Trust Os., New York, Trustee
chase, redemption and cancellation or the notes, by purchase at the lowest
Bonds.— Recording tax paid, making them tax-exempt in New York Sink
fond or 1H % ef bonds authorized from 1917 to 1921: 1922 to 1928. 2 % : price, or at 101% and lnt., by lot. Notes are red., all or part, on any lnt.
1929 to 1938. 3 % . $79,000 in sink, fund Sept. 1 1919
Callable as a date at 101 and lnt. Pennsylvania 4 mills tax refunded. V. 105, p. 818 498.
EARNINGS.— Of combined properties for 12 mos. ended M ay 31 1919
whole at 106 and lnt. en any int. day. V. 89, p. 1140. Of the 1st Ref.
(inter-group charges eliminated): Gross from oper., $9,389,767; other in
8s. $700,000 hare been issued and are pledged under the 3 -year 7% notes
Notes.— 'The 3-year 7% notes are secured by a deposit of $700,000 1st come, $75,208: total, $9,464,975: oper. exp., taxes, maint., to depletion
charges, $6,398,836; net, $3,066,139; int. and disc., $1,450,206; balance,
Ref. «s.
Proportion of earnings, incl. interest, accruing to Lehigh
DIVIDENDS.— Initial semi-annual dlv. on prof., 1\4%, paid Feb 1 $1,615,933.
Power Securities Corp. on the basis of securities owned, $1,466,699.
1911. Aug.,
none since.
’
Property, A c.— Generating plants have a present capacity of 99,297 k. w.
REPORT.— Tor year ending Dec. 31:
448 miles high-voltage transmission lines (over 11,000 volts); gasholder
Fiscal
Cross
Net (after
Interest.
Balance.
capacity. 1,266,500 cu. ft.; 167 miles gas mains; 221 miles street and inter
Year—
Earnings.
Taxes).
Mentals, A c. Survlus
urban railway lines.
1918.........................................$652,872
$151,287
$105,156
$46 052
Management.— The company is under the management o f the Electric
1917......................................... <£4.655
J29.378
101.596
27/782
Bond to Share Co.
1916---------------------------------- 529,814
142,524
99,595
42,929
OFFICERS.— Pres., E. K. nail; V.-Ps., G. E. Claflin, W m. Darbee.
ROAD.— Operated by third-rail system from Albany via Rensselaer to P. B. Sawyer and E. W . Hill; Treas., W m. Reiser; Sec., E. P. Summerson.—•
Hudson. Comprises 3/ miles of main line and 9 miles of sidings with 2 V. 106, p. 611; V. 107, p. 402; V. 108, p. 268.
additional miles of overhead trolley road in Hudson. Total, 61 miles of
Lehigh Valley T ransit Co.
track. In Feb. 1900 made contract giving It privilege to enter Albanv over
Control.— In July 1917 the Lehigh Power Securities Corp., which see
the tracks of the United Traction or Albany. Double-tracking of road be above, acquired a substantia! majority of both classes of this company’*
tween Rensselaer and KInderhook Lake completed In 1910. Operates 19 stock on the basis of $28 per share of com. and $48 per share of pref. stock.
•assenger ears, 6 freight and 2 express cars, 2 express trailers, 2 snow-plows V. 105. p. 606.
and 2 electric locomotives. Ralls 70 and 88 -lb. steel; standard gauge
ORGANIZATION.— Incorp. In Pa. on N ov. 3 1905 and Is a reorganiza
AJso owns a large amusement park at Kinderhesk Lake.
tion under foreclosure of the Lehigh Valley Traction C o., the Philadel
OFFICERS.— Pres., William Loeb Jr.; V.-F., Richard Sutro; Sec and phia to Lehigh Valley Traction C o., the Allentown to 81attngton and th*
Treas.. Irvin W. Day; V.-P. and Gen. Mgr., James E. Ilewes.— V ’ 103
Ooplay Egypt to Ironton Street R y „ as per plan in V . 79. p. 733. 1462.
p. 575: T. 105. p. 714; ▼. 106. p. 2449; V . 107, p. 80; V. 108, p. 169.
In Oct. 1911 purchased the Montgomery Trac. Co. (V . 93. p. 940) all of
whose bonds and stock are deposited under the Lehigh Valley Transit’ ref. to
Imp.
mtte. of 1910: reconstruction of M ont. Trac. completed Dec. 12 1912.
A L B IA , IO W A .
cutting down running time between Allentown and Philadelphia (City Hall)
from 4H to 2H hours. An 8-mile cut-off on this division was completed In
ALBIA LIGHT & RAILWAY CO.
1914 and the running time between Allentown and 69th St. Terminal
ORGANIZATION.— Incoro. In Delaware June 1916 as a reorganization Philadelphia.
Is now 1 hour and 68 minutes.
of the Southern Iowa R. to Light Co. as per plan In V. 103. p. 939 . Does
In April 1913 purchased controlling Interest in stock of Easton Consoli
the light, heat, power, railway and gas business of Albla, Hocking Illte- dated
Electric
(V. 96. p. 1022). On June 20 1913 shareholders author
nan and community, serving a population of 12,800. Also supplies’power ized an lasue ofCo.
notes to pay for the purchase. V . 96. p. 1489.
for the operation of 12 miles of the Centreville & Albla Ry. Co. New power 1772. Also has collateral
half
Interest In Norristown Transit C o. Franchises perpet.
■nits and 22 miles of transmission lines were placed In operation March 15
On Dec. 31 1915 purchased the franchises and property of the Quailer1918, with contracts to furnish power for 4 large csal mines and the mining town
Trac. Co. (fonuerly leased) for the sum of $1 and the concellation of
•wmmonities located at these mines. Franchises expire In 1942.
Its Indebtedness, all of which was owned by the Lehigh Vail. Transit Co.
STOCK AND BONDS—
Dote.
Interest. Outstanding. Maturity
Under agreement made In July 1907 the Lehigh Valley Transit has Its
Com stock $400,000 ($100)...................................
$400 000 .
Philadelphia terminal in the Philadelphia Rapid Transit station at Chestnut
Pf 6 % non-cum$100,000 ($10)..........
Q— F
100.000
See'text
Hill. Y. 85. p. 99. Late In 1912 made a contract for express service with
1st M $500,000 gold ($1,000/ 1916
5 K J-J
350,000
1941
Adams Express Co. In 1918, however, upon the taking over o f the express
and$100)________ c&r.cptllnt. at Empire Trust Co.. N. Y .. trustee.
companies by the Federal G ovt., this express service was discontinued.
Bonds.— Of the bonds reported outstanding, $180,000 were Issued to cover V. 108, p. 375. Conducts through freight service between Allentown and
new extensions. Remaining bonds are for extensions and additions. No Philadelphia.
sinking fund and not subject to call.
Light and Power.— In March 1913 the Lehigh Valley Light to Power
Dividends.— Quarterly dlvs. of 1M % on pref. stock were paid from Aug. Co. was organized as a consolidation of the Allentown Electric Light to
1 1917 to and incl. May 1918. None since.
Power Co. and numerous smaller companies all previously owned by
4
ELECTRIC RAILWAYS
the Transit Company. Stock authorized, $850,000 (par $100): out
standing, $491,100, all owned by the Transit Co.
Does entire lighting
and power business In Allentown, Bethlehem. South Bethlehem, Slating
ton, Catasauqua. Emaus and adjacent territory; power Is also wholesaled
to Macungie and to several municipalities along the Transit Co.'s line,
Including Ooopersburg, Sellersvllle, Souderton and North Wales. In
Aug. 1913 the company closed a contract to supply electricity to the Phil
adelphia Suburban Gas & Elec. C o., a subsidiary of the Amor. Gas Co.
V . 97, p. 521. Also has numerous municipal street-lighting contracts.
Franchises, with one minor exception, are perpetual.
Rates.— In M ay 1918 filed with the Penn. P. U. Comm, a new fare sched
ule, effective June 1 1918, providing for increases in local and limited
passenger fares on the Philadelphia and Slatington divisions, and increases
m all commutation rates on all divisions. V. 106. p. 2123. In July 191s
filed a new tariff, effective July 20 1918, providing for increases in all
class rates and an increased minimum charge. V . 107, p. 291. In Sept. 1918
filed jointly with the Phila. Western R y. a tariff increasing fares to 6 cents
and creating several new zones. V. 107, p. 1101.
Owns the following stocks:
. tup. Stock
Name of Company—
Owned. Tot. issue
Lehigh Valley Light & Power Co. (common)................... *491.100 *191,100
Allentown Bridge C o............................................................. 292-100
292.100
RittersvIIle Hotel C o____- _____ _ —
100,000 100.000
Easton Consolidated Electric Co. (50% paid)...............
Norristown Transit C o------------------------------------------------ J2,000
24.000
Miscellaneous stocks------- --------- - _ -------- - - - ---------------- 10.200 160.000
Leases Beth. & Nazar. Pass. Ry. for 999 years at 5% on stock and bonds.
— BONDS—
----------_ .
- ■ Outstanding. Maturity
Interest.
STOCK AND
Date.
$2,997,350 ...................
Common. $3,000,000, par $ 5 0 - -------- -- 4.979,687
See text
Pref, $5,000,000, par $50— 1 -----Q-F
[Vol . 109
C o.. Phila., or at company's office. They are guar. p. Sc f. by endorsement
by the Easton Consol. Elec. A sinking fund of $5,000 D. a. commenced
Junel 1908; $59,000 have been retired. Bonds are subject to call at 105 and
Int. V. 83. p. 323; V. 104. p. 2553.
REPORT.— For calendar years.
_ ,
Calendar Qross Earn. Net Inc. Net Inc. Total E. Bond Int. Dies. Balance,
Year— — Railway Dept.— Ed.Ill.Co. Con.El. Tax.,die. Paid. Surplus.
1916.............$653,262 $206,160 $18,803 $224,963 $67,545 $60,000 $97,418
1915............ 534.644 133.029 19.833 152.862 67.806 60.000 25.056
1914............ 475.611 126.907 24.057 150,964 67,577 69.950 13.437
Latest Earnings.— The surplus earnings of the Easton C onsolidate Elec
tric Co. for the year ending Nov. 30 1918 wore $101,756 as against $159,700
for the year ending N ov. 30 1917.
, „ .
ROAD.— Emoraces practically the entire street railway system of Easton
and West Easton, Pa., and Phlllpsburg, N . J,. with lines from Easton to
Bethlehem, South Bethlehem. Nazareth, and Phllllpsburg, N. J.
total track, 54.389 miles, all standard gauge; operates through cars front
Easton to Bethlehem, South Bethlehem and Allentown. 93 passenger
and 12 service cars.
__ „
_ _
OFFICERS.— Pres.. H. R- Fehr. Allentown, Pa.: Vice-P.. S. H
Hackett; Sec. & Treas., F. A' Hazzard; Asst. Sec. A Asst. Treas., S. H.
Sargent.— V. 97. p. 53. 301. 311; V. 98. p. 838: V. 99. p- 1300.
ALLENTOWN & READING TRACTION CO.— A trolley road.
ORGANIZATION.— Incorporated April 25 1898 and leased the Allentown & Reading Electric Street Ry. for 290 years from June 4 1898. On
Fob. 6 1902 leased for 290 years the Kutztown A Floetwood Street R y.
Controls the Kutztown Light. Heat A Power Co. Connects with Unitea
Traction Oo. tracks from Reading, ebus forming a through line from Allen
town to Reading.
Notice of an increase in fare from 5 to 6 cents, except between Reading
F ir s ? ' mortgage. $5.00o!oo6l 1905
4-5 g M-S 4.994,000 Dec 1 1935 and Rosedaie, effective Jan. 1 1918, was filed with the P. S. Comm, in
gold ($1.000).................ctf/Guaranty Trust C o., New York, Trustee. Dec, 1917.
Receivership Denied.— On Aug. 11 1919 Judge Wagner denied the applica
Consol, mtge. $7,500,000.1 1905
4 -5 g J -D
354 000 Dec 1 1935
tion of the stockholders of the Kutztown & Fleetwood Ry. Co. for a receiver
gold ($1.000)__________ tf (Commercial Trust C o., Phila.. Trustee.
R ef A Imp mtge $15,000,0001 1910
5 g J-D
5.115.000 June 1 1980 for the Allentown A Reading Traction Co. The action against the co. was
gold ($500 and $1,000) c*tf (Lehigh Valley Trust C o.. Allentown. Trustee started in 1913. V. 109. p. 675.
STOCK AND BONUS.
Date
Interest. Outstanding.
Maturity.
150.000 5% guar
Beth. & Nazar St Ry Stock---- --------------$250,000 - - - - - - - - - 150.000 M ay 1 1929 Stock. $750,000 (rar $50>_.......................................
Bonds ($150.000)_______ t f ____
5 M -N
150.000 Feb 1 1942 Allent A Kutz 1st M $250.0001 1900 5 g J-J
$250,000 July 1 1930
5 F-A
Norristown Transit Co. 1st M - ____
g.
$100.$500 A Sl.OOO.cptfInterest as Fidelity Trust Co. Phila., trustee
15.000 Oct 1 1929
So Beth E L Co 1st M call at 1 ____
5%
First M Kutztown A Fleetw d\ 1902 5 g J-J
200.000 Jan 1 1932
105 at any int date_______ J
218.000 July 1 1942
$200,000, guar p A L _ -c p t j
„„„ _ . ,
Allentown Bridge 1st M ($500 ( 1912
5 J-J
300,000 July 1 1932
A $1,000) call at 105 any!Guar. p . A i. by Lehigh Valley Transit Co. First consol mtge. $750.0001 1902 5 g J-J
g ($500 A $1,000) c A r .c p t /I n t . at Integ. T it. Ins. A T r. Oo. Phila..true.
int. date__________ c*».tf lint, at cols office or Brown Bros.& Co..Phila.
5 M -N
163,000 M ay 1 1937
Lehigh Val L A P mortgage/ 1913
5 g A-O
604.500 April 1 1943 Second consol mtge $300,0001 1907
($500 A S I.000)___ cAr.tf(Berks County Trust C o., Reading, trustee.
$2,000,000 ($1,000, $500 AtLohigh Valley Trust C o.. Allentown,Trustee.
tends.— Of the $750,000 of new consols, $450,000 are reserved to retire
$100) gold - ________ c * tf(ln t. at co’sofficeor Brown Bros. & C o., Phil.
Coll trust bonds. $925,0001 1913
6 g J-J
924.259 July 1 1923 prior Hens. They are subject to call at par since July 1 1917; no sinking
___
($1.000.$500,$100) gc’ n tf/In t. at Girard Trust C o.. Phila.. Trustee, fund. The first mortgage bonds are redeemable at par
EARNINGS.— For year ending June 30 1916, gross, $183,825: net,
5 M -N
34.000
See text
Equip trust "Her A " .............t f -----$86,401; other income, $14,463; Int., rentals, A c., $77,682; surp., $23,182.
Equip trust “ Ser B “ _________ _____
5 J-J
^0.000
See
ROAD.—Operates 39.60 miles main line. 7.50 miles sidings—total,
Equip trust “ Ser C ” _________ _____
5 J-J
160,000
See text
fonds.— Of the $5,000,000 first mtge..
$2,770,000bear 4% Interestand47.10 miles; 43 cars.
„
OFFICERS.— Pres., n . B. Ahren*. Reading; V .-P .. W. D . Mnbn; S ec..
are all out, and $2,224,000 are 5s. Int. at the company's office and Brown
Bros & C o., Phila. The 1st M . bonds are redeemable on any int. date, the 9. K. Hoffman. Hamburg; Treas.. Geo. B Shaffer. Reading' Supt , W . J.
4s at 105 and the 5s at 110. Of the consols. $2,500,000 Is were outstanding, Bear, Kutztown.— V. 81, p. 1492; V. 82, p. 216; V. 109, p. 675.
but $2,146,000 have been exchanged for ref. & impt. bonds. Int. on consol,
bonds is payable at office o f company or Brown Bros. & C o., Phila. These
ALLIANCE, OHIO.
bonds are not subject to call. Of the $15,000,000 ref. & impt. bonds
STARK ELECTRIC R R .— An electric railroad.
$5 000.000 are reserved to retire 1st M . bonds: $548,000 for consol, mtge.
ORGANIZATION.— Incorporated In Ohio and Is a consolidation In Deo.
bonds ($354,000 to take up bonds shown in table and rest for bonds previ
ously taken up): $3,334,000 for improvements and $600,000 are deposited 1902 of the Alliance Electric Ry. and the Stark Electric Ry
Rate Increases.— In Juno 191S was authorized by the Cltv Council to
with the U. S. Housing Corp.; $548,000 are in treasury. Bonds are red. at
105 and int. on or before June 1 1920, and 110 and int. thereafter. V. 92. charge a 6-cent fare: rate for tickets was increased from 25 for SI to 20 for
p . 187; V. 04, p. 698, 982: V. 95. p. 750. Int. is payablo at office of com $1. V. 106. p. 2561. In Julv 1918 was authorized by the Ohio I*. U.
pany or Brown Bros. & C o., Phila. Bonds are listed on the Phila. Stock Comm, to Increase passenger fares, effective Aug. 1 1918. V. 107, p. 403.
Exchange. The coll, trust notes o f 1923 are redeemable at par and int. on In July 1918 applied for authority to increase freight ratos by 25% . V.
107, P- 83. This application has been granted.
STOCK AND BONDS.
Date.
Interest. Outstanding.
Maturity.
an^quip.^tnast “ Series A " are payablo $4,250 semi-annually, “ Series B ”
Stock. $1,500,000 ($100)...................
Q-J
$1,250,000
Seo text
$5,000 semi-annually, and “ Series C ” $10,000 semi-annually.
5 g J-J
866.000 Jan. 11928
Lehigh Valley Lt. & P. bonds are subject to call on any int. date at 105 First mtge, $1,000,000, gold/ 1903
($1,000) sinking fund, call-iCitizens' Sav. A Tr. C o., Cleveland, trustee.
and Interest. V. 97, p. 365.
able at 105----------------- c t f l ln t . a t United Bank A Hav. O o., Cleveland.
Dividends.— Initial div. on pref.. 1% paid Nov 10 1911
In 1912,
Bonds.— Sinking fund of 1% per annum from Jan. 1 1911 to Jan. 1 1915
1913 and 1914, 2 % . In 1915.33$% . In 1916 and 1917, 5% . In 1918,
F eb., 1 K % - None since. V. 106, p . 2123; V. 108, p. 268. Total ac and 2% per annum thereafter. $134,000 have been retired.
Dividends.— Firstdlv., % % , paid July 1908: H % paid auar. to and lncl.
cumulated dividends, 22% .
E A R N IN G S.— For years ending N ov. 30 (1918 report in V. 108, p. 375): Jan. 1916. In April 1916. 1% ; same rate quar. to aud lncl. Apr. 1917; none
Fiscal
Operating
Net aft it Other Int.,Amort. Preferred
Balance, since. In April 1010 also a stock dividend of 25%. V. 90. p. 448. 700.
EARNINGS.— For years ending Dec. 31:
Year— Revenues. Taxes, Ac. Income. D isc..A c. Dividends.
Surplus.
Surplus
Year—
Gross.
Net.
Int.fi. Taxes
Dies.
1917-18..$3,320,145 $886,525 $142,835 $681,104 ------------------- $348,256
$50,766
None.
$119,560
$68,793
1916-17.. 2 875,074 1,034.654 144,756 725,873 (5%)S248.983 204,555 1918. .................$494,161
75.291
156,476
68,685
_____
12.500
1915-16. 2 471 872 1 104.087 145,210 780,820 (5% ) 248,983 219,494 1917---------------- 396,185
ROAD.— Operates 34 miles of track from Canton to Salem. Including
1914-15.. 2 058 875 1,018.887 136.145 831,645 (3 H ) 174,288 119.100
R O A D .— Oporates 163 65 miles of railway, of which 151.47 miles owned Alliance City lines. Standard gauge. 67 and 70-lb. T rails and 70 and
and 12.18 miles leased. The road connects Allentown, Bethlehem, South 90-lb. girder rails. Total mileage. Including double track, 36 miles. An
Bethlehem. Heliertown, Nazareth, Siegfried. Northampton, Coplay, Cata- extension from Alliance to Marlborough and New Baltimore and eventually
ea'>oua. Egypt. Emaus. Macungie, Slatmgton, Quakertown, Perkasie, Lans- to Akron Is to be constructed: lino partly graded.
OFFICERS.— Pres., W . II. Purcell; V .-P ., Claus Greve: Sec., E. S.
daie Norristown, Ambler and Phila. 80, 95 and 105-lb. T and 96 and 116-lb.
girder rails. Owns a large amusement park about midway between Allen Cook: Treas., S. L. Sturgeon; Aud.. O. K. Ayers Gen. M gr., F. L. Mowry.
town and Bethlehem. Owns 188 passenger cars. 14 freight and 37 service — V. 102, p. 977; V. 104, p. 2553: V. 106, p. 2561; V. 107. p. 83, 403.
cars. A 2,650-foot bridge between Allentown and South Allentown was
built by the controlled Allentown Bridge Co. (auth. stock $300,000) and
A M S T E R D A M , N. Y ,
was formally opened N ov. 14 1913. See V. 9 7 . p. 1426. 1428; V . 98. p. 154
FONDA JOHNSTOWN & QLOVERSVILLE RAILROAD CO.—
OFFICERS.— Chmn. o f Board, Col. II. C. Trexler: Pres., Harrison R. Steam
and electric road. See statement In "Railway A Industrial Sec.”
Fehr- V .-P ., E. M . Young; Y.-P. & Gen. M gr., H. H. Patterson; Sec. A
Treas., Chas. N. Wagner: Aud., W . L. Davis.— V. 106, p. 2123; V. 107, p.
A N D E R S O N , IN D.
291, 1101; V . 108, p. 268, 375.
.
UNION TRACTION CO. OF INDIANA.— A trolley road.
(1) Easton C onsolidated Electric.
O
R
G
A
N
IZA
TIO
N
.—
lncorp.
on May 13 1912 as a consolidation of the
In April 1913 the Lenigh Valley Transit Co. acquired a controlling In
old Union Traction Co. of Indiana (lncorp. May 28 1903) and the Indiana
terest in the stock and has since acquired all stock except (24) directors
Union Trac. Co. (lncorp. June 9 1903), per plan In V »4, p. 1119, 1186: V.
shares. V. 96, p. 1021.
Dividend payments were: July 1900, 3 )4 % on $10 paid In; Sept. 1901 95, p. 819: and as a result of which capital was materially reduced. The
and March and Sept. 1902. 3% on $15 paid In; March 1903 (paia In July) legality of the consolidation was uphold In a declston Uy the Supreme
and Sept. 1903 , 4% on $16 paid In. In Dec. 1905 declared a dividend of Court of Indiana In the fall o f 1916. The Indiana Union Traction Co.
$2 50 and at same time called an assessment o f $5 per share on the stock; had previously acquired the Indiana Northern Traction Co. (V. 81, p.
the dividend was credited on the assessment, making the stock 50% pain In. 1848). Muncle A Union City Traction Co. (V. 83. p . 96) and Muncle
V . 81. D. 1791. Cash dividends resumed in Oct. 1906 with the payment of Hartf. A Ft. W. Ry. (V. 82. p. 805. 869. 1041). The latter company wae
2 )4 % . V. 83. p.687: 2)4% again paid April 1 1807 and 2)4% Oct. 1 1907; leased to the Indiana Union Trac. at a rental (In addition to operating
then dividends were passed until N ov. 1911. when 2% was paid. In 1912 exp., Int. on bonds, A c.), equivalent to 6% on Mun. Hartf. A Ft. W . By.
and 1913,4% : In 1914, M ay. 2 % . Beginning with June 1914 began paying $500,000 cum. pref. stock: V. 83. P. 96. Theoid Union Trac. Co. of Indiana
1-3 o f 1% monthly (V. 99. p. 300). Dividends no longer reported, as was a consolidation of the Union Trac. C o. of Indiana (lncorp. in June 1899).
and the Indianapolis Northern Trac. Co. (lncorp. In April 1902). Leasee
entire stock Is owned by Lehigh Valley Transit Co.
OR G A N IZA TIO N .— Consolidation by stock ownership of the Easton the Broad Ripple Natatorlum Co. and owns $2,000 of Its 5% bonds.
A l s o o w n s t h e $ 1 0 0 ,0 0 0 1st M . 6 s o u t s t a n d i n g a n d $49,500 o f t h e $50,000
Transit C o., the Edison Illuminating Co. of Easton, and the Phllllpsburg
(N . J.) Horse Car R R . Co. (name changed to Phllllpsburg Transit C o.). s t o c k o f t h e T r a c t i o n L i g h t A P o w e r C o . a n d a o n e - f o u r t h I n t e r e s t In t h e
Incorporated In New Jersey March 11 1899. Owns all the stock of the U n i t e d T r a c t i o n s C o a l C o . , w h ic h o w n s a n d le a s e s v a l u a b l e c o a l l a n d s t o
In su re th e c o . a n a d e q u a te c o a l s u p p ly .
(S e e S h ir le y R e a l t y O o . o f I n d
Penn. M otor Co.
,
•
Consolidation of Subsidiaries.— On Jan. 3 1908 the (old) Easton Transit I n V. 104, p. 1805.)
The Indianapolis Northern Traction assumed payment of the prln. and
C o ., the Easton & Bethlehem Transit C o., the Easton Palmer & Bethlehem
Street Ry. and the Northampton Central Street R y. were merged Into the int. of half ($200,000) of the bonds of the Broad Ripple Traction C o. (see
_
________
(new) Easton Transit Co. (V. 85, p. 1461) and In 1909 the Easton & South under Indianapolis).
Leases Indianapolis Newcastle & East. Trac. Co. for 99 years from Oct. 25
Bethlehem Trans. Co. was also merged Into the (new) Easton Transit Co.
1912. Lease modified on Aug. 21 1914 and com. A pref. stocks of the
Stock. $2,150,000; all owned by Easton Consolidated Klee.
For decision of the Northampton County Court at Easton. Pa., on Dec. [nd. New. A K. Trac. Oo. formerly held were transferred In satisfaction
28 1914 favorable to the Edison Illuminating Co. (a subsidiary), see Lehigh of obligations incurred In leasing that company and acquiring that stock,
and in building the Muncie-Newcastle line, and in consideration of further
Valley Transit Co. In V. 100. p. 140.
8TOCK AND BONDS.— The collateral trust 5s were In Jan. 1900 Hated advances for improving power facilities for that lino, a total o f about
$521,000 (V. 100. p. 975). Lease again modified as or June 30 1916 lb
o s the Philadelphia Stock Exchange.
Date.
Interest. Outstanding. Maturity. connection with the leaso of the Muncle A Portland Traction Co. to the
Stock $1,500,000 (par $ 5 0 )-.Stock (50% paid in)all owned b y L . V .T .C o . Ind. Newc. A Eastern Trac. C o., which see bolow.
Fares.— In Dec. 1917 the Tnd. P. S. Coinm. denied the co. an increase
Collateral trust $1,300,000 g( 1899
5 g M-N $1,237,000 M ay 1 1949
In fare from 5 to 7 cents on the Broad Ripple lino beyond Fairfield Ave. a n d
($1,000 aud $500)____c*tf(Incerest at Girard Trust C o.. Phila., trustee
Pennsylvania M otor Co 1st I 1891
6 A-O
60.000 Apr 1 1911 increases to 6 cents on tho local lines In Anderson. Muncie, Marlon a n d
mort. (cannot be called >tfl Lack. Tr. & S a /eD ep .O o.. Scranton, trustee Elwood, but permitted it to Increase tho rato for mileage books on Its lines
Eas Palmer & Beth 1st mtgei 1919 6 J-J
200.000 Jan 1 1939 to 2 cents per mile, commutation tickets to 1 H cents per mile (from 1 M
cents) and school passengers to 1 1-5 cents a milo. Effective June 10 1918,
gold $200.000__________ t f H I. s M tg. & T r. C o., N Y . trustee
EasASo Beth Tr 1st M $500.-f 1906
5 g J-J
417.000 July 1 1936 was auth. by tho Ind. P. S. Comm, to increase fares from 2 to 2H cents per
mile for the duration of the war. V. 106. p. 2346. Early in 1918 was
000 guar gold ($ 1,000) c*tf(Girard Trust C o.. Philadelphia, trustee.
Bonds— The c^Il. bonds have no s. f. and are not subject to call. Of the auth. to Increase freight rates. In July 1918 applied to the Inter-State
total of $1,300,000, $60,000 Is reserved to retire the Penn. M otor bonds. Commerce Comm, for authority to increase rates on both one-way and
$2,090 in treas. and $1.000 reserved for small amt. o f outstanding scrip of round-trip tickets and to increase class and commodity rates by 25% .
Ed. III. Co. Issue is secured by pledge of $2,150,000 stock (entire Issue) of V. 107, p. 83. On Jan. 10 1919 was auth. by tho Ind. P. S. Comm, to
(new) Easton Transit C o.. 12.317 snares (entire i9sue) of Edison Ilium, increase fnterurban rates from 2)4 to 2 % cents per mile, effective till Juno 30
stock and 2.400 shares (the entire lssue> or Penn Motor stock
Int. on 1919. V. 108, p. 172. Compare V. 108, p. 81. In Sept. 1919, however,we
a-aston & So. Beth. Transit bonds Is payable at office o f Edw. B. Smith & were informed that the increased rates had been extended.
Nov., 1919. J
ELECTRIC RAILWAYS
-
Refinancing.— On June 14 1919 the Ind. P. S. Comm, approved the exten
A N N I S T O N ,
A L A .
sion °f $4,623,000 1st gen. M 5s duo July 1 1919 to July 1 1922 at 6 % (comANNISTON ELECTRIC & O A S CO.
„
^
nare V. 103. p. 2434) and of $1,200,000 Ind. New Castle & Eastern Trac.
Merged In March 1915 with the Alabama Power C o., a subsidiary of tha
Co 6 % bonds due June 1 1919 to June 1 1922 at 6 % . Both Issues of ex Alabama Trac.. Lt. & Pow. C o., for statement of which see our “ R y. m
tended bonds are red. at 101H and Int. on any int. date. The Comm, also Industrial Section.”
_______ _____ _______
approved the extension of $328,000 Marlon City By. 6s due May 1 1919 to
Riay 1 1922 at 6 % . V. 108. p. 2630.
.
^
A S B U R Y
P A R K ,
N .
J .
The co. also issued $150,000 3-yr. promissory notes dated July 1 1919 to
ATLANTIC COAST ELECTRIC RY — Trolley.
replace a similar issue due on that date. The new notes are secured
ORGAN IZATION .— Inconporated in New Jersey on Dec. 8 1905 as suc
by $40,000 par value of the co's stock, $18,017 com. stock of Shirley Realty
Co. and $25,000 1st Mtge. 6s of 1928 of United Traction, Light & Power Co. cessor to the Atlantic Coast Electric Railroad C o., sold under foreclosure o f
the general mortgage of the latter. Leases the Seashore Electric R y. of
V. 108, p. 2630.
Asbury Park until June 6 1937 at $10,000 per year and owns $150,000 of tha
STOCK AND BONDS.
D a te .
In terest.
O u tstanding.
M a tu r ity
$200,000 total capital stock of that company (making net rental *2,500).
and owns all of the stock of the West End & Long Branch Ry. and of the
- - - - ------- Sa-OOO’OOO ----- — •—
Common, $5.000.000------------ -------1st prof. $1,000,000.5% c u m .____
A-O
1.000.000
8 ee taxi Asbury Park & Sea Girt R R .; the former is leased from Aug. 3 1896 until
3d pref. $3,000,000 (see t e x t ) .-----J-J 10
3.000,000
See text July 17 1945 at a nominal rental, and the latter for 99 years at 6% on stock
Ind Un Trkctlon let M *5.-1 1903 5 g A-O
1.620.000 July 1 1933 from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. are owned.
000 000 (SI 000) gold., tf fInterest at Girard Trust Co.. Phlla.. trustee. Also entire stock ($100,000) of the Atlantic Coast Eloctric Light C o., whick
Onlon’T rC o of ind IstgenMl
1899 6 g J-J
$4,623,000 July 1 1922 supplies the electric lights of Asbury Park. Allenhurst. Belmar. O c » a
Beach. Como and Spring Lake. The Seacoast Trac. Co. (capital $100,000).
N 750Y»
1922 running from Belmar to Spring Lake. 2 miles, has been leased to the Atlantic
Coast Elec. Ry. for 99 years; its stock and bonds are owned. Franchise in
O lS S a ™ ! rJ im I S A m M') 1897 T O * - I f S
D « 'V i 9 2 7 Belmar expires In 1947; In Asbury Park In 1937; In Long Branch, some ex
*250 000 b f sub to call 105./Interest at Guar. Trust & Safe Deposit Co pire in 1945 and others are perpetual; in Ocean Township, perpetual; In Sea
Girt, expire In 1926 and 1 9 5 6 ; franchises of Seacoast Trac Co. are perpetual.
(*500 and SI 000)
__ c*J Philadelphia, trustee.
Decision.— On Dec. 1 1916 the Supreme Court at Trenton set aside an
Marton ORy Is t M *400.000 1895
6 g M-N
328.000 May 1 1922
.min /«1 rrnm
ctf (Eauitable Trust Co., New York, trustee.
order of the Board of P. U. Comm, requiring the company to give transfers
tnd?ana(K>l isNorth* Trac 1st 1902
5^J -J
5 000,000 July 1 1932 In Asbury Park and Bradley Beach, holding that the utility board cannot
violate a contract between the company and the city by imposing addi
mtge *5.000.000 g ($1.000)]Equitable Trust Co.. New York, trustee.
tional burdens or lowering rates, unless the company consents. The case
lntilnraD^ o r th ^ a c risatCLU^e ( 1903 5 g A-O
500.000 Oct 11933 is now pending in the U. S. Supreme Court. V. 106, p. 2755.
$ 6(K) 000 gold ($100. $500 Interest at Trenton (N. J.) Trust & Safe
Fares.— In Dec. 1918 the N . J. P. U. Comm., in acting upon the com
and *1.000) guar
-.c * tfl Deport Co., trustee.
pany’s application for a 7-cent fare, auth. an increase in fares from 5 to 6
cents. V. 107, p. 2187.
,
„ .,
,.
, , . ..
“
dow
H65
i f jj
i l l s
Br m i
STOCK AND BUN DS—
Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($100)............................... - - - $1,000,000
See
Mg a p s
r a s * °
r
w
-* ’ s a & s ’t e v i a
First mortgage gold $1,000 \ 1895
5 M -N
800.000 M ay
1945
kS S gold ($1 000)
Int. at Fidelity Trust Co.. Phlla.. trustee.
000_____
_ _ ntf IInt. at Columbia Trust C o.. N. Y .. Trustee.
Broi^RIppleNatatorlum1stM \ -----5 MS
33.000 Mar 1 1931
General mortgage $1,000,0001 1906
5 g J-J
1,000.000 July 1 1945
Guar, by Un.Tr.Co.of Ind.) Int. at Security Tr. Co., Indianap., trustee.
gold ($1,000)_________c tf /Interest at Central Trust C o., N.Y.,Trustee.
5
200,000
-----
st0CX __Diva on 2d pref. stock are cum. from 1 % semi-annually Id Seashore Electric Ry stock________
Seashore Electric Ry first! 1892
6 g J-J
200,000 Jan. 1 1920
1913. scaling upward to 3% semi-annually in July 1918 and thereafter
mortgage $200,000.........tf/In t. at N . Y . Trust Co., N. Y .
nond , __Of the Ind. U. Trac. bonds of 1903. $3,380,000 were reserved Atlantic Coast Electric Light f ____
5 J-D
201,000 June 11945
for extens and lmpts.. but under terms of consolidation agreement of 1912
first mortgage $500.000Unt. at Asbury Park & Ocean Grove Bank.
these bonds have been canceled. $496.000 are held allve In the sinking fund.
gold__________________ ntf l Asb. Pk. Morton Tr. C o.. N .Y ., Trustee.
oinking fund 1 H% per annum or outstanding bonds, became operative Neptune Electric C o_________ _____
6%
36.000
——
on July 1 1904. Fund is to he invested in the bonds at not above 105 and
Bonds.— Of the $1,000,000 1st 5s, $200,000 arereserved to retire a like
tnt.. and bonds may bo drawn at 105 and int. on any Int. date. §}£3,000 amount of Seashore Ry. 6s. The latter are subject to call at 105. They
rrnlon Trac. Co. of Ind. Gen. M. bonds are in treasury. Including $150,000 fell due originally in Jan. 1917, but were extended to Jan. 1 1919, and again
nlodgod to secure the collateral trust notes: remaining bonds are reserved to Jan. 1 1920. Entire bonds ($50,000) and stock ($100,000) of the Asbury
?or underlying bonds. See V. 71 p .1013. They originally bore interest Park & Sea Girt and entire bonds ond stock of the Seacoast Traction Co.
at 5% and matured July 1 1919, but have been extended to July 1 1922 at
each) are deposited under the new general mortgage.
6 %. Bonds are listed on the Philadelphia Stock Exchange.. The Indiana ($100,000
Dividends.— In 1906 and 1907, 6 % . In 1908 to 1916, 3% , none since.
Northern Traction bonds aro subject to call at 105 and interest on six
R O A D .— Belt line in Asbury Park, 5.85 miles; Asbury Park to Pleasure
weeks’ notice. They are guaranteed, principal and interest, by Indiana Bay and North Long Branch, 14.60 miles; Asbury Park to Manasquan.
Union Traction Co. V. 82, p. 805. The Muncie Hartford & Fort Wayne 14.16 miles: total track, 36.08 miles. Connects at Pleasure Bay with the
bonds can bo called Jan. 1 1925, or after, at par. A sinking fund on those New York ft Long Branch Steamboat Co.
bonds of 2M % of gross earnings per annum began July 1 190o. See V . 80,
RE PO RT.— Years ending Dec. 31:
n, 1059. $84,000 have been retired. The Muncie & Union City bonds
1918.
1917.
1916.
1915.
1914.
1913.
are subject to call at 105 and guar., iirin. and int., by Indiana Union Trac Gross earnings..$406,967 $424,934 $420,708 $409 007 $428,763 $437,856
tion. The Marion City first mtge. bonds originally matured May 1 191o, Oper. expenses..x393,517 373,711 273,299 255.872 248,953 236,783
but were extended to May 1 1919, and again to May 1 1922. The collateral
trust notes were issued to refund a like amount of Anderson Elec. St. Ky.
Net earnings.. $13,450 $51,224 $147,409 $153,135 $179,810 $201,073
bonds which matured in 1912. They fell due July 1 1917, but were ex
x Incl. taxes.
tended to July 1 1919. and again to July 1 1922.
In 1917 tnisc. income $20,891 fixed charges. $107,685: deficit. $35,570.
OFFICERS.— Pres., S. F. Hazelrigg; Sec. & Treas. G. B. Cade.— V. 81
D iv id e n d s. — 5% was paid on first pref. stock to April 1914.
None since
p. 1435, 1722; V. 106, p. 2755; V. 107. p. 801, 2187.
Diva, on second pref. stock have not been paid since July 1912.
REPORT.— For cal. year, inel. Muncie-Portland line:
Calendar
Grass
Net (.after
Other
Bond
Sinking Balance,
A S H T A B U L A ,
O H I O .
Year— Earnings.
Taxes).
Income. Int., <fee. Fund.
Deficit.
ASHTABULA RAPID TRANSIT CO.
1918.........$3,198,821
$823,424 $21,627 $880,048 $63,546 $98,543
In Feb. 1907 control of this road was acquired by L. A. Robison, Pres,
1917......... 3,066.467
900,268
16,531 874,657
59,791
17,649
Passengers carried in 1918, 16,597,199, against 19.683.276 In 1917.
of the Penn, ft Ohio R y.. and associates.
ORGANIZATION — Chartered Oct. 7 1890.
ROAD.— Owns the following lines: Muncle-Andersou-Indianapoii*,
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
50 H miles; Anderson-Marion-Wabash, 5314 miles; Alexandria-Elwood, Stock. $500,000 ...........- .................... - .............
$500,000 — .............
Tipton, 20 miles; Indlanapolls-Kokomo-Logansport, 80 miles; Kokomo
1st mtge, $75,000. gold! 1891 6 g J-J
75.000 July 1 1921
Peru, 1914 miles; Muncie-Unlon City. 33 miles; Andersou-MIddletown.
($1 0 0 0 ) ___________ c*ftr j Int. at Central Trust C o.. Trustee. N. Y . O.
914 miles; also 10 miles of city lines In Anderson; 14 44 miles In Marion; 2d mtge. $500.000.................(1 9 0 7
5 M-S
307.000 Sept 15 1927
16 miles In Muncie, and 4 miles in Elwood; total, 272 miles of interurbao
(Citizens S. &. T . C o., Cleveland, trustee.
and 4414 miles of city lines. Also leases Muncie-Uartford City-Bluffton
Bonds.— *75.000 2d mtge. bonds are reserved for prior liens. 1st M .
line, 42 miles; Indlanapolis-Newcastle-Muncie line, 6214 miles, and Muncie bonds originally matured July 1 1911 but were extended 10 years to July 1
Portland line, 32 miles; grand total, 453 miles. Through cars are run be
tween Indianapolis and Fort Wayne In conjunction with the Fort Wayne & 1921.
EARNINGS.— Years ending Dec. 31:
Nor. Ind. Trac. Co. Provides package freight service between Indianapplis
Cal. Years—
Gross.
Net.
Taxes.
Interest. Bal., Surp.
and Muncle and Indianapolis-and Logansport and Peru, and to all other 1917 ................. $104,242
$22,270
$6,898
$23,866 def.$8.494
points on the system. Operates through freight service between In 1 9 1 6 -.............- 100.195
32,720
6.751
23.217
2.753
dianapolis and Fort Wayne. By contract until Nov. 1933 cars are run 1915— ................. 80,711
22,733
.......
.......
......... over tracks of Indianapolis Street Ry. In Indianapolis. Carries express
K iH D .— Operates 5 miles of track on 5H miles of street.
matter per contract with Wells, Fargo Express Co.
A large central
OFFICERS.— Pres. & Treas., L. A. Robison, Cleveland; Sec., J. W .
Dower station, with necessary storage batteries at Anderson, operated on
« three-phase system, with 19 sub-stations, likewise equipped with storage Coltman, Cleveland, O.; Supt., R obert Hughes. Ashtabula.— V. 98. p . 761
batteries, operates entire system.
PENNSYLVANIA & OHIO R Y .— A trolley road.
The same interests control the Ashtabula Rapid Transit Co.
EQUIPMENT.— Jan. 1 1919, 95 city cars, 53 suburban, 93 lnterurban
Sale.— The company's property was to have been sold at receiver’s sale
80 freight and 89 service cars; total, 360.
Sept. 8 1919. For further particulars, see V. 109, p. 776.
OFFICERS.— Pres., A. W . Brady, Anderson; V .-P.. Philip Matter, onReceivership.—
Ou June 16 1917 Judge Roberts of the Common Pleas
Marion- Sec. & Treas., Wm. H. Forse Jr.. Anderson: Gen. Mgr., H. A. Court at Conneaut.
O., appointed Supt. Palmer Wardman receiver, on
Nicholl. General offices, Anderson, Ind.— V. 105, p. 499: V. 106, p. 87, application of the Citizens'
Savings St Trust C o., mortgage trustee. Press
1681. 2346; V. 107, p. 83; V. 108, p. 81, 172, 974, 2434, 2630.
dispatches stated that “ the action came about through efforts of Conneaut
stockholders to defer the payment of interest now due.” V. 104, p . 2553.
(1) Indianapolis Newcastle & Eastern Traction Co.
ORGANIZATION.— Incorporated March 17 1898
Leased to Union Traction Co. of Indiana on Oct. 25 1912 for 999 years
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
The lease provides for the payment of all taxes. Interest on bonds, a sum Stock
($100). $1,600,006 auth. ...........................
$1,300,000 -----------aoulvalent to 5% on the pref. stock, and a definite annual payment o(
First
mtge,
$600,000,
gold.!
1901
5
g
M-S
600.000
Mar
151921
i f 050 on the com. stock. A further amount, up to $10,420 a year. Is
$500 each_____________ c * jln t. at Citizens’ Sav. & Tr. C o., Clev., Trus.
navable under certain conditions. Compare V. 100, p. 975.
Jefferson
Division
($500),!
1902
5
g
M-S
100,000
Mar
15 1922
v Leases the Muncie & Portland Traction Co. for 999 years from June 30
$100.000_________________(Int. at Citizens’ Sav. St Tr. C o., Clev. Trus.
1916; see terms below.
EARNINGS.— For calendar year 1917, gross S116.027; net, $20,759.
ORGANIZATION.— Incorp. In Indiana on June 10 1912 as successor to
ROAD.— Owns and operates the Conneaut city Hue, 3 mllee. and has
the Indlanapells Newcastle & Toledo Elec. Ry.. sold at foreclosure. Has built westward from Conneaut to Kingsville & Ashtabula, 13 miles, and
hrivate right-or-way minimum width 66 ft., except In corporate limits, south from Ashtabula to Jeffersoa, 10 miles; total, 28 miles.
OFFICERS.— Receiver, Palmer Wardman; Pres.. L. A. Robison, Pitts
where shortest franchise expires Apr. 7 1933. Under favorable contract
with Ind. Trac. & Term. Co. extending to 1933, operates through city Into burgh; Sec & Treas.. W. B. Morris. Pittsburgh. Office at Ashtabula.—
Indianapolis lnterurban terminal.
V. 82, p. 929, 987; V. 104, p. 2553; V. 109, p. 776.
Bond Extension.— See under United Traction Co. above and V.108,p.2629.
STOCK AND BONDS—
D a te .
In terest.
O utstanding.
M a tu r ity
A T L A N T A .
G A .
---- ------Sfdd.OOO See text.
Common $500,000 ($100)-------------QEORQIA RAILW AY & POWER CO.
Pref $500,900 5% cum ($ 1 0 0 ) .------------500,000 See text.
ORGANIZATION.— Incorp. in Georgia on Ocb. 16 1911 to take over
First mtge $1,600,000 gold! 1912 6 g J-D
1.200.000 June 1 1922 the following properties (V. 93, p. 1191, 1725):
jl_000_______________c’ tf/Int. at Fidelity Trust Co., Phlla.. Trustee, Atlanta Hydro-Elec. Power Co.
IInter-State Power Co.
Savannah River Power Co.
Bonds.— Remaining 1st M . bonds may be Issued upon fulfilment of Atlanta Water & Elec. Power Co.
.
ISouth Carolina Power Co.
certain covenants for 7 5 % of cost of extensions, lmpts.. betterments or ac- Georgia Power Co.
In June 1916 purchased the Gainesville R y. St Power C o. (see p. 45 of
aulsltlon of unencumbered properties. Red. as a whole (but not less) on any
Int. date on 8 weeks' notice at 10114 and int. V. 94, p. 1695. No sink. fund. “ El. Ry. Section” for M ay 1916) for about $189,000. V. 103. p. 144.
In Jan. 1917 the company acquired all the Interests of the Franklin Light Sc
Originally matured June 1 1919, but have been extended to June 1 1922.
Pow . C o.. Broad Riv. Pow. Co. and the J. B. McCrary Co. at Hartwell. Ga.
ROAD.— Included In Union Traction Co of Indiana.— V 94, p 1.565.
Also leases the Georgia Railway Sc Electric Co. (see below).
1626, 1695; V. 96, p. 135; V. 100, p. 982; V. 102, p. 2341; V. 108, p. 2629.
In July 1917 issued $2,500,000 6% collateral gold notes to provide In
part for improvements and new construction estimated to cost $4,830,000.
(a)
The Muncie & Portland Traction.— A trolley road.
See V. 105. p. 606; V. 106, p. 1569; V. 108, p. 2022.
ORGANIZATION.— Incorporated July 1905 In Indiana. Franchises In
On Aug. 14 1918 was auth. by the R R . Comm, to increase light and power
cities and towns 50 years; in counties perpetual.
rates effective Sept. 1 1918. On April 2 1919 the R R . Comm. auth. a
i,ease — Was leased as of June 30 1916 for 999 years to the Indianapolis charge of 6 cents for passenger fares except such fares as are fixed by con
Newcastle & Eastern Trac. Co. In connection therewith the co.’s capital tract between the company and the cities of Decatur and College Park.
ization was changed from $1,000,000 stock, all of one class, to $500,000 In April 1919 the City Council of Decatur, Ga., denied the company’s
©referred and $500,000 common. The lease provides for the payment of petition to have the 5-cent cash fare contract suspended and to permit the
nil taxes, a sum equal to 5 % on the pref. stock, a definite annual payment company to charge a 6-cent fare. V. 108, P- 1721.
„ „„„
i t $4,530 and the payment of a further amount up to $17,3<0 a year con
In Aug. 1919 applied to the R R . Comm, for auth. to issue $489,000
1st & ref 5s to reimburse the treasury for additions and extensions. In
tingent upon certain conditions.
OFFICERS.— Pres., K. B. Ball; V.-P., W. O. Ball. Sec.. G. A Ball- Sept. 1919 the co. was auth. to guarantee the payment of $132,231 equip,
Treas., F. C. Ball, all or Muncie. Ind.: Asst Sec.. W. H Forse■Jr., Ander- trust notes (10% to mature annually) proceeds to be applied to the purchase
of 15 centre-entrance cars. V 109. p. 11798 Compare V. 109, p. 981.
®n, Ind.— V. 82, p. 1438; V. 102, p. 2342; V. lOo, p. 103/. 1901.
ELECTRIC RAILWAYS
6
Outstanding.
M a tu r ity .
In terest.
STOCK AND BONDS—
D a te.
$15,000,000
Common, $15,000,000 ($100)...........
See text
2,000,000
1st pf$2,000,000 0% cum($100)____
"Q -j"
10.000.000
2d pf$10,000.000 4%n-c($100)____
__
14,529.500 Apr 1 1954
s T a'- o
1st A ref mtge $30,000,000 g) 1914_
Int. at Fidelity Tr. Co., PhUa., Trustee^
See
sinking fund* — c* 7
.......................
" text
1.400.000 Jan 1 1943
Atlan Wat & El P 1st M l 1903
5 J-J
(closed) g ($l,(K )0)--c*cpt/Int. at Columbia Trust C o.. N . Y ., Trustee.
Collateral gold notes $2,500.-1 1917
6 g F-A
2,500.000 Feb 1 1920
000 (51.000)................... tf/lnterest at Drexel A C o.. Phlla.. trustee.
Stock.— After the 2d pref. and common stocks have both received 4%
per annum for 3 successive years, the 2d pref. stock becomes com. stock.
Bonds.— Of tne $30,000,000 First and Refunding Mtge. bonds, $1,367.
000 are reserved to retire prior liens, $3,334,000 are to be pledged as
and when issued on account o f additions as security for the collateral
gold notes, and balance is for future additions. &c., under pro
tective restrictions. Subject to call at 102)4 and interest to April 1
1 923, and thereafter at 105 and int. after 56 days’ notice. Bonds are
o allable for sinking fund at same rates and dates. Annual sinking fund
payments are as follows: 1919 to 1924, $75,000; 1925 to 1928, $100,000;
1929 to 1953. $125,000. Coupon bonds $1,000 or £205 15s. 3d. and $500
or £102 17s. 7d. Of the $1,100,000 outstanding Blue Ridge Elec. Co. 1st
mtge. bonds, due July 1 1940, $863,500 were stamped and purchased by
the Georgia R y. & Power Co. as per agreement made by Georgia Power Co.
dated Oct. 1 1916. Remaining bonds were called for payment July 1
1917 at par and interest. Both Savannah River Power mortgages were also
called for payment in 1917. The Atlanta Water Sc Elec. Power bonds are
sub), to call at 105. The Issue was originally for $1,500,000 but has been
closed at $1,400,000. Sk. fd. Jan. 1 1908 to Jan. 1 1917, incl., $5,000 per
ann.; thereafter until maturity, $10,000 per ann. See V. 102, p. 1540.
$89,000 in sink. fd . Collateral notes of 1917 are to be seemed by deposit of
$3,334,000 1st Sc Ref. M . bonds. Callable at par and int. in amounts not
less than $500,000. They are free of any tax other than inheritance tax,
which the company may be required to withhold.
D i v i d e n d s . — An initial dir. of $ 4 70 per share was paid Jan. 20 1913 on the
1st pref. stock, covering the 9 2-5 months since it was issued (March 1912).
In Jan. 1917 paid 3% on account o f accumulations (24% ). Has since
paid 4% additional on account o f accumulations. Regular quar. divs.
•f 1)4% beginning April 1917 to Oct. 1 1918.
R E PO RT.— Of combined properties (1917 report In V. 106, p . 1569):
C a le n d a r
G ross
N e t (a fte r
O th er
I n t ., R e n ta ls,
B a la n c e ,
Y ea r—
E a r n in g s .
T a x e s ).
In com e.
S k . F d s _ .,A c .
S u r p lu s .
-------- j 2 984,565
$160,775 $2,527,792 $617,548
1918....................$8,836,535
189,271
2,485,242
619,626
2,915,697
1917-................. 7,807,039
120.359
2.383,681.
813.607
_______________________
3,076,929
____
1910...................
0.985.709
Pasneigevs carried (on city system) in 1918, 85,481,204, against 72,076,
392 l » 1917.
P R O P E R T Y .— Total miles single track, 248.376. Standard gauge.
70 , 80 and 9 9 -lb. rails. Owns water power sites In Northeastern Georgia
capable o f an ultimate development o f over 577,900 h. p.; present develop
ment. 160,800 h. p. Transmission and distributing lines aggregate 676.85
miles. The Interurban line from Atlanta to Stone M tn. was completed In
Nov. 1913. The hydro-elec, plant at Tallulah Falls was placed in operation
April 1 1914. The sixth and last unit o f 12,000 k. w. o f this development
was pat into eperation in March 1919.
OFFICERS.— Chair, o f Board, H. M . Atkinson: Pres., P. S. Arkwright;
▼,-P. * Gen. M gr., G. W . Brine; V.-P. & Mgr. Rys., W. II. Glenn; Sec.,
W . H. Wright: Treas., I. S. Mitchell Jr.; Aud., H. Flynn, all of Atlanta.
— Y. 108, p. 683, 784, 1721, 2022; V. 109, p. 887, 981, 1179.
(1) G eorgia R ailway Sc Electric Co.
Lease.— On Jan. 30 1912 the stockholders of the Georgia R y. At Elec. Co.
approved the 999-year lease from Jan. 1 1912 to the Georgia R y. Sc Power
Co., which provides that the latter company guarantee all the fixed charges
and divs. on pref. stock and divs. o f 8 % on com. stock, the holder of each
$100 com. having received, as additional consideration for the lease, $3.12)4
In 1st pref. aad $125 in 2d pref. stock o f Georgia R y. At Power C o., V. 94,
p. 982. 1119. The shares o f the Atlanta Gas Light Co. and of the Atlanta
Northern R y. are not included In the premises demised under the lease,
but the lessor assigned and transferred to the lessee, for and during the term
at the lease, the income arising from any and all o f the said shares.
O R GAN IZATION .— Incorp. in Georgia on Jan. 28 1902, and on April 1
1902 took over the Atlanta Ry. Ak Power C o., the Atlanta Rap. Tran C o.,
the Georgia Electric Light Co. and the Atlanta Steam Co. Franchise
for the greater part perpetual; others 50 years from August 1899. Com
prises the street railway, electric-light, gas, power and steam-heating
interests e f Atlanta and Fulton County. By terms o f the ordinance per
mitting consolidation, the company paid the city of Atlanta $50,000 in
cash, and agreed to pay a tax on gross receipts of 1 % for first 3 years. 2 %
for the next 20 years and 3% thereafter. V. 74 , p. 397, 727. In Oct. 1902
both pref. and com . stock were listed on Boston Stock Xxch. Y. 75, p. 849.
They are also listed on the Louisville Exchange.
In June 1903 acquired the entire capital stock ($600,000 6 % pref. ami
$1,014,625 com.) o f the Atlanta Gas Light C o., comprising the gas business
of Atlanta and vicinity, by exchange of stock, $ for $. V. <6 , p, 1406.
The gas company, however, maintains a separate organization. Also owns
entire capital stock o f the Atlanta Northern Ry.
,
„ ,
In Aug. 1919 applied to the R R . Comm, for auth. to issue $105,000 Ref.
At I last. 5 s, to bo used in part payment o f cost o f additions and extensions
already made. V. 109, p. 981.
O utstanding.
M a tu r ity .
In terest.
STOCK AND BONDS—
D a te .
See text
$8,514,600
Ooramoi ($100)__________________
2.400.000
See text
Preferred 5% no*-cumul*tive\____
$2,400,000 (par $100).........J
4.971.000 Jaa 1 1940
6 K J-J
8ef Sc imp mtge $20,000,0001 1909
gold ($1.000)_____’____’_c*flnt. at Amer. Trust Co., Boston, Trustee
5 g J-J
5.710.000 Jan 1 1932
First cons mtge $11,000,000 1902
gold sink fund ($1,000)--C* Int. at Old Colony Trust Co., Boston, Trus.
0 g J-J
225.000 July 1 1930
Atlanta Street Railroad first 1890
mortgage gold (par $1,000) Int. payable In N. Y . at Fourth Nat. Bank.
Central Trust Co.. N. Y ., Trustee.
___
_______
_____
__ ____
1899
5 g J-J
1,875,000 Jan 1 1939
•A
tl Cons
St Ry
1st consM$2,5*0,000 g($1.000each) -.c 'U n t . payable in N. Y . at N . Y. Truet Co. and
I at Marc. Tr. & Dep. Co. of Balt., Trustee.
Georgia Elec Light Co 1st MJ 1900
5 g J-J
1,350.000 July 1 1930
$2,000,000, gold, subject to( Interest at Old Colony Trust Co., Boston,
call at 105---------------------c* I Trustee.
,
Atlanta Gas-Light Co, 1st M f 1897
5 R J-D
L150.000 June 1 1947
$1,150,000, g ($1.000)-.c* Interest at New York Trust Co.. Trustee, or
(Bank of Scotland. London, Eng.
Bonds.— Of the $11,000,000 Georgia Railway Sc Electric Company bonds
(closed mtge.) of 1902. $3,450,000 are reserved to retire underling liens;
balance has been retired. Red. on any int. date at 110 and int. A
tinking fund became operative in 1907 which retires $10,000 of bonds
each year from 1907 to 1911 . inclusive; $25,000 per annum from 1912 to
1916, inclusive, and $50,000 per annum thereafter. See V. 74, p. 629, 727.
A sinking fund of $6 60 per $1,000 bond on the Atlanta Gae Lt. Co. bonds
la operative; $267,000 bonds in fund. Atl. Consol. St. Ry. bonds are red.
as a whole at 107)4. but $25,000 in Jan. of each year for alnking fund at
at 105. Of the ref. Sc impt. mtge. bonds. $11,230,000 are reserved to retire
prior liens (Including the $400,000 Atlanta Sc Northern bonds) and re
mainder for extensions and improvements up to 75% of actual cost. Bonds
are subject to call on 50 days' notice at 105 and Int.; a linking fund of
1% of bonds out began in 1910. $287,000 retired by sinking fund.
Dividends.— Dividends are now paid under lease (see above). For record
of dividends paid prior to lease, see this section for January 1917.
EARNINGS.— Included in report of Georgia Ry. Sc Power Co. above.
ROAD.— Owns 212.673 miles of track (single-track bails). 70, 80 and
90-lb. rails. 329 passenger and 33 other cars. 2 power stations.
OFFICERS.— Pres.. Frcnk E. Block: V.-P., T . K. Glenn: 8ec. Sc Treas,.
W. H. Wright.— V. 106, p. 710; Y. 107, p. 401; V, 109. p, 981,
(a)
Atlanta Northern Railway Co.— A trolley road.
ORGANIZATION.— Entire stock is owned by the Georgia Railway &
Electric Co., which guarantees the bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. M aturity.
Stock, $100.000-.....................................................
$100,000 ...................
First mortgage $400,000 guar I 1904
5 g J-J
400,000 July 1 1951
($500 and $1,000) go!d--C*/Int. at Old Colony Tr. Co.. Boston. Trustee.
Bonds.— Are guar., p. At L, by end., by the Qa. Ry. Sc Elec. Co. Are sub
ject to call on any int. date at 110 and lut. A sink, fund of $5,000 per ann.
began in 1909; $64,500 bonds are held alive in sink. fund.V. 79. p. 680.
.if
[V o l . 109.
EARNINGS.— For years ending Dec. 31:
Year—
Gross.
Net.
Taxes. Int.. A c. Balance.
1918.................................... $184,567 $52,283 $5,539 $28,795 sur.17.94R
1917.................................... 141,537 33,220 5.430
28,385 def.
595
1916.................................... 126,207 27,932 5.528
27.503 def. 5.09R
ROAD.— Operates 18 miles of track from Atlanta to Marietta, 15.2 miles,
which are owned and mostly on private right of way. Has arrangements
with Ga. Ry.
El. Co. for terminals and trackage rights into the city of
Atlanta. Standard gauge; 7 cars. Commenced operation July 17 1905.
—V. 79. p . 6 8 0 . _________ ____________
Sc
A T L A N T I C
C I T Y ,
N .
J .
ATLANTIC CITY & SHORE CO.
ORGANIZATION.— Incorporated in 1909 In Delaware. Owns 2,995 of
the 3,000 shares of the Atlantic <Sc Suburban Ry. Co. stock and a majorityof ths stocks of the Central Passenger Ry. Co. ($40,000 bonds) and Atlantic
City Shore
Co. Also owns all of the $591,100 outstanding 1st mtge.
bonds of Atlantic
Suburban Ry.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock. $1,000,000...................................................
$995,500 ---------------Coll trust, $591,100.............tf 1910
4%
591.100
See text
The collateral trust 4s are secured by $591,100 Atl.
Sub. 1st mtge.
bonds and 2,995 out of 3.000 shares of stock of that company. They fall
due Feb. 1 1928 or Feb. 1 1940.
„
OFFICERS.— Pres., Harry E. Kohn; Sec., L. R. Isenthal; Treas..
I. L. Stone.
(1) Atlantic City & Shore RR.— An electric road.
Default— Receiver.— Int. due Dec. 1 1915 was defaulted, due largely to
loeses caused by jitney buses. Judge Clarence L. Cole was appointed re
ceiver, but on June 9 1919 was succeeded by A. J. Purinton. The following
bondholders' committee was organized: Geo. Burnham Jr., Frank H. Bach
man, Tilghman Johnson and John D. Mcllhenny. V. 101, p. 1884.
ORGANIZATION.— Incorporated in New Jersey Oct. 21 1905 with a
perpetual charter. Leases Atlantic City
Ocean City RR.— see terms
below— and owns $218,500 of the common stock of the Atlantic City
Ocean City Company, which holds all the stock and bonds of the Atlantic
City & Ocean City RR. V .85. p. 158. Cent. Pass. Ry. Is operated under
traffic agreement.
Contract with West Jersey A Sea Shore RR.— An agreement has been
entered into with the West Jersey A Sea Shore Bit. by which the
Atlantic Ave. line of the latter road, running from Atlantic City to Longpbrt. 8)4 miles, is operated bv this company.
_ _
..
Fare Increases.— On Nov. 5 1917 the Bd. of P. U.Comm. of N. J. auth.
the co. to raise the round-trip fare between Ocean City and Atlantic City
from 50 to 60 cents, or double the existing one-way fare. In May 1918
was auth. to increase the fares between Atlantic City and Plensantyille
2 cents and to increase rates in all other rones affected 1 cent for every rare
collected, the sale of strip tickets at 6 for 60 cents to be contim id. Y . 106»
p. 2122; V. 107, p. 290. On Nov. 1 1918 was auth. by the N. J. P. U.
Comm, to increase fares from 5 to 6 conts as a war measure, which may be
rescinded when conditions again become normal. V. 107, p. 183*. Com
pare V. 107. p. 179, 801.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock. $1,000,000 ($100).....................................
$1,000,000 --------- - - -
1st mtge
coll trust deed! 1905
5 g J-D
950,000 Dec 1 1945
$1,000,000 ($1,000) g .c H f/ln t. at Girard Trust Co.. Phila., Trustee.
Bonds.— No sinking fund, but can be called at any time at 110 and int.
ROAD.— Operates 47.45 miles of track in and around Atlantic City, in
cluding a road through Pleasantville. Llnwood and Somers Point, to Ocean
City, the latter two points being connected by 2 miles of trestle aad bridge
owned by the Atlantic City A Ocean City RR.
EARNINGS.— For cal. year 1917, gross, $548,669; net, $104,074; other
income. $4,675; rents, &c., $112,416; bal., deficit, $3,668.
OFFICERS.— Pres., I. H. Silverraaa; V.-P., Charles Evans; S ec.,J .M .
Campbell: Treas., 1. L. Stone: Gen. Supt.. A. J. Purinton.— V. 101. p .
1806, 1884; V. 106, p. 2122, 2343; V. 107, p. 179,801,1836; V. 100. p.9Sl.
(*) Atlantic City & Ocean City Company.
The Atlantic City A Ocean City Company was organized in Delaware
and owns the entire ($180,000) stock and all the ($180,000) bonds of the
Atlantic City A Ocean City RR., and has pledged them as security for the
collateral trust bonds below. Of the common stock of the Atlantic Citv A
Ocean City Company, $218,500 is owned by the Atl. City * Shore RR. The
latter leases the Atl. City A Ocean City RR. for 999 years, the rental bein* $19,500 per annum, and an additional contingent sura equal to 33 1-3%
of the net surplus, but not to exceed $25,000 per annum.
STOCK AND BONDS—
Data.
Interest.
Outstanding. Maturity.
_______
$220,000 ___________
Common, $3.50,000__________ _____
Pref 5% non-cum $250,000
____
_______
175,000 ___________
Collateral trust gold $500,-1 1907
5 M -3
350,000 Mar 1 1947
000 redeemable 110 * inttf (Girard Trust Co., Philadelphia, Trustee.
Stock.— The pref. stock is redeemable at par.
ROAD.— The Atlantic City A Ocean City RR. owns 2.61 miles of road
from Somers Point, across Great Egg Harbor Bay. on bridge and trestles,
to Ocean City. Rails, 85 ibs. V. 85. p. 158; V. $7. p. 105.
OFFICERS.— Pres., Penrose Fleisher; Sec., J. M . Campbell; Treas..
Ityin L. Stone.
(2) Atlantic 5c Suburban Ry.
ORGANIZATION.— Incorporated in New Jersey Dec. 7 1908 as a re
organization of the Atlantic City A Suburban Traction Co., sold under fore
closure of 1st mtge. V. 87. p. 1237, 1532.
8TOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock, $750,000 ($50).............................................
$150,000 ...................
First mortgage, $650,0001 1909
4 g F-A
591,100 Aug 1 1929
($1,000)____________ c*tf lint, at Cambridge Tr. Co., Chester, Pa., Tr.
Prior lien M , $100,000, g u a r l-----5%
100,000 Feb 1 1925
p A i, by A C A S Co— tf I
Bonds.— Bonds have no sinking fund. V. 87, p. 1237.
EARNINGS.— For calendar year 1918, gross (all sources), $91,157; net.
after oper. exp. and fixed charges, def., $10,105. In 1917, gross, $84,536i
net, $22,155; other income, $3,036; int., taxos, &c., $37,812; loss, $12,621.
ROAD.— Operates 16.13 miles of track from Atlantic City to Pleasantville, Somers Point and Absecon. Standard gauge, 80-lb. T rail.
OFFICERS.— Pres., Harry E. Kohn: Sec., J. M . Campbell; Treas..
Irvin L. Stone.— V. 87. p, 1299. 1532; V. 88. p. 881: V. 90. p. 1424.
Sc
RR. Sc
Sc
Sc
Sc
Sc
A U G U S T A ,
A U O U ST A -A IK E N
RY.
G A .
5c E L E C . C O R P O R A T I O N .
ORGANIZATION.— Chartered In March 1906 under laws of South
Carolina aa Augusta A Columbia Ry. Co.; name changed to above in April'
1911 and is a consolidation of the following companies:
Augusta-Alkes Ry. & Elec. Co.
I Augusta Ry. A Elec. Co.
Augusta A Aiken Ry. Co.
I North Augusta Elec. A Impt. Co
Owns and operates entire railway systems of Augusta, Qa., and North
Augusta, 8. C .. and a line from Augusta to Aiken, S. C. Also furnishes
entire electric light and power service in Augusta and its suburbs and own*
valuable real estate in central part of Augusta. Railway fra n ch ise InAugusta expires 1989; electric-lighting fra nchise runs until 1939 or longer.
Interurban division is on private right of way. V. 92. p. 1177. Also own*"
the $500,000 com. stock of Georgla-Carolina Pow. Co., incorp. in So. Caro,
to construct the hydro-elec, plant on Savannah River, which was placed In
operation Feb. 6 1914 with an Initial Installation of 14.000 h. p.. ultimate
capacity about 28.000 h. p. Operation of this plant wae taken over by the
Angusta-Aiken Ry. & El. Corp. on July 1 1914. The company guaranteesprin. and int. and sink, fund on the Ga.-Carollna Pow. Co. 1st M.5s.
Early in the fall of 1916 disposed of its holdings in the North Augusta Hotel
Co. and North Augusta Land Co.
On June 23 1915 the stockholders authorized an Increase In the 6% cum.
pref. stock from $1,500,000 to $2,250,000. the new stock being issued in
exchange for the $750.0*0 pref. stock of the Georgla-Carolina Invest. Co.
(a holding co. formerly controlling the Ga.-Oaro. Power Co.), which has
been dissolved. V. 100. p. 1830, V 101. p. 283.
„„
„ _
F a r e s .— On Mar. 1 1918 Increased fares from Augusta to Aiken, 8. O..
from 25 cents to 40 cents, with the approval of the S. O. UR. Commission,
but subsequently reduced to 35 cents. In Sept. 1918 applied to the Georgln.
RR. Comm, for auth. to Increase fares In Augusta from 5 cents to 10 cents,,
but was granted authority to raise fares to only 0 cents.
Nov.. 1910. j
7
ELECTRIC RAILWAYS
Holders of Co. s Is/ M . 5s To Forego Interest.— la M ay 1919 the
•a. proposed to holders o f the 5% Sink. Ed. bonds, due 1935, in order to
secure necessary funds for construction, replacements and floating debt.
Shat thoy defer the interest on this issue for three years by funding their
iMupons in*, a 5-year interest-bearing note at 5% and until such notes
■sature on June 1 1924, to waive tho operation o f the sinking fund. This
•lan was declared operative in August 1919. Provision is made in the
deposit agreement that until the 5% Coupon Gold notes have boen paid off,
•• dividends shall be declared by the company on either class of stock. Y
109, p. 107*.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common $2,250,000 ($ 100)_______ ________
$2,250,000
Pref 8 % cum $2,250,*## ($ 1 0 0 )-----Q-M
2.250,000
See text.
First mtg $7.50*.000 *old( 1910 * g J-D
2.891.000 Dec 11935
($ 1 ,0 0 0 )............_c**r*tf(C en tra l Trust C o., New York, Trustee.
Augusta Ry A Blac 1st M * 1900 5 g J-D
89S.000 June 1 1940
$1,000,000 ($1,000) -c * n t f/ln t. at Mer. ~
°
•a-Caro Pow 1 st M $5,000.-]
000 g ($500 and $1,000) — r 1912 5 J-J
2,750,000 July 11952
S u a r ________________c »tf ICentral Trust C o.. New York. Trustee.
Bonds.— Of the $7,500,000 1st mtge. bonds, $233,000 are in treasury
a*d $129,00* in sinking fund (not included in amount reported outstand**g) (see text above regarding suspension o f sinking fund operations):
$896.000 are reserved to retire Aug. Ry. A Elec, bonds and balance is for
additions. &c. Subj. to call as a whole (or in part for smk. fd.) at 105 and
uit. on any int. day on 30 days’ notice. Interest is payable at Redmond
Sc C o., New York. Sinking fund began in 1916, providing for payment of
$25,000 per ann. 1st 5 years, increasing to $40,000, $50,000 and $65,000
for each successive period o f 5 years until maturity o f bond 3 .
V. 92, p.
1177. Augusta Ry. Sc Elec, bonds can be called in 10, 20 or 30 years from
•date at 105 and int. on 6 months' notice; sinking fund o f H o f 1 % began
June 1 1905 for 15 years, 1 % for next 1 0 years and 2 % or remaining 10
years. $104,000 (not incl. in amount outstanding) was held in sinking fund
July 1 1919.
The Ga.-Care. Pow. bonds are subject to call as a whole, or in part, for
sinking fund at 105 and int. $39,000 are held by A .-A . R y. & Elec. Corp.
and $28,000 are held by trustee for sinking fund (not incl. in amount
reported as outstanding). Sinking fund began in 1918 and will be sufficient
retire all the bonds at maturity. They are guar., p ., f. Sc s. f., by
Augusta-Aikea Ry. & Elec. Corp. Y. 95, p. 179.
Dividends.— Initial dividend on preferred— I H % — paid Dec. 30 1911.
same rate quarterly to and loci. June 1914. None since.
REPORT.— For years ending Dec. 31. (1918 report ia ▼. 10*. p. 472.)
Int. on
Calendar
Gross (All Net after Int. on Co.Sub.Co.Bds. Other Balance
Year—
Sources).Taxes.
Bonds.
Ac.
Int.,A c. Surplus.
$10,555 $1,799
1918............ $1,023,831 x$368,286 $190,262 $165,670
1917
925.524
402.424
193.189 137.500
9.781 61.954
* After deducting $90,000 reserved for special depreciation, incl.
obsolescence. In 1917 a similar reservation of $50,000 was appropriated
<*ut of the surplus.
ROAD.— Owns and operates 56.9 miles o f track, of which 31.4 miles
are city lines and 25.5 miles lnterurban between Augusta and Aiken 60
to 100-Ib. T rails. Standard gauge. Owns Lake View Park on Lake
Ol instead.
OFFICERS.— Pres.. F. Q. Brown: V .-P ., J. H Pardee and J. K. Choate:
fee. and Treas., D. II. Thomas; A/grs., J. G. White Afgt. Corp.— Y. 106
p . 1343. 291*. 2117; V. 107, p. 1194; V . 108, p. 2240; Y. 109. p. 472, 1*79;
gation with respect to the track area was to repair and not to re-pave. In
Feb. 1916 the same court again hold that co. is required merely to keep
Its tracks In repair.
In June 1914 the Maryland Court of Appeals, reversing the lower Court,
held that the State Roads Commission cannot recover from the electric
railway companies the cost of changing and re-locating tracks In building
the system o f State highways. V. 98. p. 1995.
Wage Increases.— V. 106, p. 1345, 2759; V. 107, p. 292.
Fares.— In Aug. 1918 the co. announced that, effective Oct. 1 191S.
fares in Baltimore and suburbs would be increased from 5 cents to 6 cents.
V. 107, p. 907. 1386. Compare V. 107, p. 403. In Jan. 1919 the 6 -cent
fare was approved by the Maryland'P. S. Comm, and will remain in effect
until Jan. 1 1920. Half-fares for children have been increased from X
cents to 4 cents. V. 108. p. 172. On M ay 22 1919 the co. applied to the
M d. P. S. Comm, for auth. to increase fares to 7 cents cash or 4 ticketi fer
25 cents. V. 108. p. 2242. On June 5 1919 this petition was denied by the
P. S. Oomm. V. 108, p. 2434 but see Y. 109, p. 889.
STOCK AND BONDS—
Date.
Interest, outstanding. Die.or Mat.
Common, $35,000,000 ($50)............ 4 Q-J 15 $20,461,200
See text
Prof, cum, $14,000,000 ($50).........
4 J-D
23,000
Juue '1*
Inc mtge. g. $14,000,000,(1899
4 g J-D
13.977.000
1949
cum, Maryland Tr C o.i Payable at option of co. after March 1 1949.
Trus ($1,000)______ c * n tflln t. at Alex. Brown Sc Sons, Baltimore.
let con mtge. g, $38,000,000] 1899
4 g M-S
28,450,000 Mar 1 1949
($1,000); Continental Tr (Interest at Alex. Brown Sc Sons. Baltimore.
Co, Baltimore, Trus__c*tfj
Income fdg bonds ($100, $500/ 1906
5 * J-D
3.920.000 June 1 1936
Sc $1,000), $3,920,000. .ctf(M aryland Trust C o.. Trustee.
Gold notes. $2,750,000 ($1.-1 1916
5 F-A
1.222.000 Feb. 1 1921
000) red, all or part, at 101{Int. at Alex. Brown Sc Sons, Baltimore.
& int. on 30 days notlcec*tf(Safe Deposit & T r. C o.. Balt., Trustee.
Oonv gold notes. $5,750,000/ 1917 5 A 6 % F-A $4,528,000 Aug 15 1928
($100, $500. $1.000)____c*(In t. at Alex. Browh & Sons. Baltimore.
UNDERLYING SECURITIES.
Baltimore Tract— 1st mtge;f 1889 5 M -N
1,500.000 Nov 1 192*
($500,000) Trustee Mercan] Interest at Merchants’-Mechanics' First
tile Tr Sc Deposit C o .c n t f f Nat. Bank, Baltimore.
N B Div 1st ($1,000) 5s. g;f 1892
5 g J-D
1.750,000 June 1 1942
TrusM>rTr&DepCo.cntf (Int. at Merch.-M ech. First Nat. Bk. Balt.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Div.or Mai.
City A Suburban Ry Bonds— f 1892
5 g J-D
$3,000,000 June 1 1922
1st mtge. g ($1,000)____t flln t . at Alex. Brown Sc Sons. Baltimore.
[Safe Deposit Sc Trust C o., Balt., Trustee.
Lake Roland Elevated— Ut\
1892 5 g M-S
1.000,000 Sept 11942
consol
mortgage,
gold] Interest at Alex. Brown Sc Sons, Baltimore.
($1.000)__________ c ’ Jcr tf l Baltimore Trust C o.. Trustee.
Central Ry— Consol mortgager 1892 5 g M -N
700,000 M ay 1 1932
$700,000. gold ($1.000)n tf]In t. at Merch.-Mech. First Nat. Bk., Balt.
[Mercantile Tr. Sc Dep. Co. of Balt., Trustee.
Ext and imp 1st mtge.i
1897 5 g M-S
600,000 Mar 1 1932
*600,000, * ($1.000)-ntfiBaltim ore Trust C o., Baltimore. Trustee.
[Int. at Merch.-Mech.First Nat. Bk., Balt
Stack.— The preferred stock reported above as outstanding is all that
ramains of the original lasne of $14,000,000. the rest having been converted
into income bonds. Authorized amount o f common stock was increased
from $24,000,000 to $35,000,000 in Sept. 1917 to provide for conversion
feature o f notes of 1917. Common stock listed on Baltimore and Phila
delphia Stock Exchanges. V. 96, p. 1631; V. 97, p. 667.
Bonds.— Of the $38,000,000 of 1st consol, bonds $29,450,000 have been
A U S T I N ,
T E X .
Isaued (of which $3.000.00') are in treasury); $8,550,009 set aside to retire un
A U S T I N S T R E E T R Y . — A tro lley r o a d .
derlying securities $23,000 income mtge. 4s are held by trustee to retire
ORGAN IZATION .— Incorporated In Texas on Jan. 3 1911 as successor the outstanding pref. stock. Income funding bonds are red. on any int.
date at par and accrued int. $48,320 are held by trustees. Ail bonds are
ce the Austin Electric Ry. Franchise expires in 1942.
listed on Balt. Stock Exchange and the 1st Consol. 4s and $14,000,00*
STOCK AND BONDS—
Dale.
Interest: Outstanding. Maturity
Income 4s are listed on the Phiia. Stock Exchange. $8,000 Central Ry.
Common $750,000 ($100)-------------- ------------$560,000 See text.
1st cons. 5s are in U. Rys. & El. C o.’s treasury.
Prof $500,000 ($100) 6 % n c . ...............................
250.000 See text.
In Feb. 191* issued $2,750,000 5% 5-yr. notes to retire the $500,000 Balt.
First & ref mtg $1,500,0001 1911 5 g J-J
786.000 Jan 1 1936 Catonsville
c Ellfcott's Mills 1st M . 5s due July 1 1916 and the Sl.OOJ.OOO
gold ($1.000>----------- c * tf/I n t . at Equitable Trust C o .. N . Y .. trustee 5% coll. tr. S
due June 1 1910, called for payment Mar. 13 1916. and to
Bondi— $814,000 1st Sc ref. bonds are reserved for additions, Ac
They provide for notes
certain
capital impts. during the 5 years following. No new
are subject to call on any int. date at 1 0 2 Annual sinking fund of 2 % mtj^e. can he created
upon present property during life of notes without
« f bonds out began in 1915. V. 92, p. 1S5; V. 93, p. 1461. $97,000 (not giving notes equal security
with bonds issued under such new mtge
V.
(■eluded in amount reported outstanding) in sinking fund Sept. 1 1919
102,
p.
523,
610.
$1,528,000
had been exchanged for conv. 5% gold attaa
Dividends.— Prior to 1915 paid 6 % on pref. and 4% on commoa stock
due Aug. 15 1922 as of Aug. 31 1919.
No later Information.
Convertible Notes.— Convertible at the option of the holder Into com. stock
EARNING S.— For years ending Dec. 31:
at $30 per share within one year after Aug. 15 1919, at $33 during tke next
Year—
Gross.
Ne'. Int.ATaxj Sink.Fd. Deprec.
Balance
and at $36 thereafter until Feb. 15 1922. $3,000,000 bearing 6 % Int.
1*18............... $273,184 $96,696 $64,327 $15,720 $23,748 def $7 099 year
were Issued for new equipment, extensions. &c., stockholders being given
1917- ........... 257,363 97,712 59,536
15,720
17!654
sur 4.802 preferential subscription rights; remaining $2,750,000, boaring Int. at 5%
ItO A D .—Operates 23.1 miles o f track. 55 and 72-lb. rails- 42 cars
exchange, par for par. for the 5% 5-year gold notes due Feb. 1 1921.
O F F IC E R S — Pres., W. J. Joneg V.-P., F.H. Watriss; Sec D A . for
See V. 105. p. 820. 910, 1523. $1,528,000 bad been so exchanged up to
Bush, Austin, Tex.; Asst. Sec., G. P. Gannett, Augusta. M e.; Treas. Aug.
31 1918. Redeemable (subject to the right of conversion) at par and
IE. P. Wilmot: Asst. Treas., G. E. Macombec, Augusta. M e.— V 93 n int. on
30 days' notice. Safe Deposit & Trust C o.. Baltimore, trustee.
626. 1461, 1531.
_______ ’
D IVIDEN DS.— Dividends of >4of 1% were paid In June 1899 and 2 V4% .
In Dec. 1899, and 2% each six months after that to and including Dec. 1903,
A Y E R ,
M A S S .
on both the income bonds and the pref. stock, the payment on the stock
(but not on the bonds) being subject to a deduction of \i of 1 % for taxes.
LOWELL & FITCHBURQ STREET R Y .— A trolley road.
In 1913 VV. W. Sargent. President o f the Fitchburg & Leominster Street None thereafter until June 1911. coupons being funded. On June 1 1911
paid 2 % on both Income bonds and pref. stock and 2 % has been paid each
Cty., and associates acauired control.
5 months since. On com. 1st div. — 114 % —paid Mav 1912: Nov . 1 t4 %
ORGANIZATION.— Incorporated in Massachusetts in 1903.
STOCK AND BONDS— Date.
Interest.
Outstanding. Maturity. In 1913 and to and incl. Jan. 1919 at the rate of 4% per annum. April 191*
Stock $275,000 ($100)
------$275,000 In 1917, 6% div. postponed (V. 108, p. 1391). None since.
ROAD.— Miles of track, 415; serviceable cars, 1,999; gauge, 5 ft. 4)4 In.
First mtge (see text) gold/ 1906 5 g J-J
275.000 Jan 1 1926
Rails, 70-lb. T and 9-in. and l24J4-lb. girder. Capacity of (3) generating
($1,000) no sinking fu n d ._ (Subject to call at 105 and interest.
Bonds.— First mtge. was originally for $1,000,000. but has been closed stations, 34,755 k. w. (an additional 20,000 k. w. unit is being installed*
capacity of (7) sub-stations, 45.200 k. w.
REPORT for the year ending Dec. 31 1918 in V. 108, p. 1513, 192»:
**Dividends'.— In 1916. 2% ; 1917. 6% .
EARNINGS.— For years ending Dec. 31:
1918.
1917.
1916.
19io.
Cal. Year— Gross. Net.aft.Tax. Other Inc. Int.
Dividends. Surplus. Car miles run.................. 32,569.906 33.705,804 31,397.513 29,522,10*
Revenue passengers____ 226.834.528 212.893.619 199,158,285 181,744,02*
.19 7.............$99,384 $31,002
$1,778
$13,750
(6%)$16.500 $1530
1916-........... 58.278
20.472
1.764
13.750 (2% ) 5.500
2 986 Transfers......................... 81,879,968 83.430,701 81.771.297 75,807.25*
ROAD.— Operates 14 miles between North Chelmsford, a suburb i f Operating revenues------- $11,929,701 $10,560,837 $9,914,051 $9,028,144
5,267,395
4,567,950 4,142,699
Lowell, and the village of Ayer, with a spur running from North Chelms Operating expenses------- 6,839.822
Depreciation___________
596.485
528,042
495.702
410.54$
ford to West ford; connects at North Chelmsford with Bay State St. Ry
1,160,452
1.079,723
994,840
924,534
«nd at Ayer with Fitchburg Sc Leominster St. R y. Has 11 passenger Taxes, licenses, &c-------ears, 1 snow plow and 2 other cars.
$3,332,942 $3,685,676 $3,855,559 $3,550,363
Net oper. incom e..
OFFICERS.— Pres., W. W. Sargent: V .-P .. O. F Baker; Sec. Jc Treas
83.061
Other income_______
96.101
r . N. Wallis, all o f Fitchburg, Mass.
92.000
8.33X
B A L T I M O R E ,
M D .
Street railways of Baltimore pay a park tax of from 1% to 9% of gross receipts
from lines within City Limits, except on turnpikes and private rights of way. and
are required to pave, between tracks and two feet on each side.
UNITED R A I L W A Y S * ELECTRIC CO. OF BALTIM ORE.— Trolley.
ORGAN IZATION .— Incorporated at Annapolis March 4 1899- com
prises through consolidations the following passenger railways in B a lt i
m o r e City and Baltimore. Anne Arundel and Howard counties. Marylandf lu n t r a l Railway lCo.
!n
Baltimore O a t o u s v il l e Sc ElllC O ttS Central
Mills Passenger RR.
Gwynn’s Falls Railway o f Baltimore
City.
Baltimore City Passenger Ry. Co.
Maryland Traction.
Baltimore Consolidated Ily. Co.
Plmitco & Pikesville R R .
Baltimore & Curtis Bay Ry.
■Balt. GardensviUe Sc Belair Elec. Ry. Shore Line Electric Ry.
Baltimore Sc Northern Elec R y. Co. Walbrook Gwynn-Oak Sc Powhatan
Also owns all the stock, and holds a lease of the Baltimore Sparrow*
point Sc Chesapeake Ry. Co.
Allied Company.— In Aug. 1906 the Maryland E lec.R y., which had agreed
to provide funds for needed Improvements and acquisitions of the United
Ry. Sc Elec. C o., was consolidated with the Bait. Sc Annapolis Short Line,
thus forming the Maryland Elec. Rys. See statement of that co. below.
Power Contract.— In Fob. 1911 entered into a 15-year contract with Pennavlvanla Water Sc Power Co. for supplying power in conjunction with
United Railways Co. for operation o f cars. V. 92, p. 467.
Favorable Tax Decision.— On June 29 1909 the Court o f Appeals of Mary
land held that the park tax o f 9% on gross earnings o f lines within city
limits was intended to be in lieu of all other taxes, and that no further tai
on the intangible property can be levied without express legislative author
Ity. The easements in 14 miles of turnpikes in annexed districts were held
to be taxable. V. 89. p. 44.
In April 1913 Judge Bond in the City Court at Baltimore decided that the
■company must pay cost of repaving streets between tracks and 2 ft. on
either side. See V. 96, p. 1090. On Aug. 5 1913, the Court of Appeals of
Siaryland reve'sed the rullug and unanimously held that company's obli
Int. on income bds.(4% )
Preferred divs. (4%) —
Common divs. (4% ) —
$3,416,003
$2,524,271
559.080
920
818.448
S3.78; .777
$2,34'r,l 11
559.0SC
920
818,443
$3,947,559
$2,280,355
559.0S0
920
818,448
$3,558.69#
$2,180,24*
559.080
92*
818.44*
Surplus..................... xdef$486,716
$56,218
$288,756
N ,n ,
x T h e total surplus Dec. 31 1918. after deducting $105,035 income t i l
excess profits taxes, year 1917; $15,000 contribution to Red Cross war fan*;
and $97,866 misc. items (net), was $362,370.
OFFICERS.— Chairman of the board, Thomas A. Cross; Pres., C . D.
Emmons; V .-P ., J. Pembroke Thom; V.-P. & Gen. M gr., James R . Pratt;
Sec.. William Early; Treas.. J. T. Staub; Aud., N. E. Stubbs.— Y.1*X » .
1391. 1513. 1929, 2242, 2434. 2630; V. 109. p. 172. 889.
(1)
Baltimore Sparrows Point & Chesapeake Ry.
ORGANIZATION.— In Jan. 1903 was leased for 999 years to the Un.
Rys. A Electric Co. of Baltimore, which guarantees the bonds below, both
as to principal and Interest, and also owns all of the stock. See V. 79, p.
2643. Has 33.541 m. of single track, including a line 22 miles long connecting
Baltimore with the Bothlohem Steel Works at Sparrows’ Point, and extend
ing beyond along the shore of Chesapeake Bay, where summer resorts have
been established.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock. $2.000.000.......................................
$ 4 0 0 000
* 2-0°0.000.
1903
4 4 g F-A 2.000!000 F'eb 1 1953
($1,000) guaranteed, prln-] Fidelity Trust C o., llaitlmore, Trustee.
Dal ®nd Interest — .c * tf IInterest at Alex. Brown & Sons, Baltimore.
RE PO RT.— Operations Included in United Rys. A Elec. V. 80. p. 221.
o n « i lU!5'?^ei ^ let^ orpe & Elkrldge Ry.
— Incorp. on Dec. 26 1905 in Maryland. Stock.
<1100,000; outstanding. $10,000. Has made a $300,000 mtg. (n tf) to Fidelity
Trust Co. of Baltimore, trustee, 20-year 6% bonds, prln. and Int., payable
at Alexander Brown 9c Sons, Balt..; not guar, by United Rys. Sc Elec. Co,
tfone out. Owns 3.051 miles of road, which Is operated by United Rys. Sc
Elec. C o.— V. 87. p. 513.
[V o l . 109
ELECTRIC RAILWAYS
8
T H E M A R YLA N D ELEC T R IC RAILW AYS CO.
ORGAN IZATION .— In 1900 the charter of the Maryland Elec. R y. was
acquired by Interests friendly to the United Rys. A Elec, for the purpose,
among others, of uslug that company to finance the needi of the United Rys.
& Elec. Oo. for additional property, and charter amended by Legislature In
1900 to adapt It to that purpose. In Aug. 1900 was consolidated with the
Baltimore & Annapolis Short Line, which latter line has since been electri
fied. The Maryland Electric Rys. thea acquired car-barn sites, terminals.
&c.. and is erecting buildings, constructing extensions, purchasing equip
ment, A c., which is leased to the United Ry. A Electric Oo. for an annual
rental of 0% upon the actual cost of the property. At maturity of the
$8,000,000 bonds of The Maryland Elec. Rys.. the United obligates Itself
to purchase the property so leased at a sum sufficient to retire the bonds
See plan in fud in V. 83. p 150. There is no guaranty endorsed on bonds
but the terms are such that rental will be more than sufficient to pay inter6 8 t.
Stock listed on Baltimore Stock Exchange in Feb. 1908.
STOCK AND BONDS— Date.
Interest. Outstanding
Maturity
Stock $1 200 000 (850)
________
______ $1,164,000 July ’08.1%
Start mtge. 8 8 (K>0OOiLgoldl 1906
5 g A-O
4.916.000 Oct 1 19$1
($1,000), sinking fundc*tfjM ercantile Tr. A DeP- C o., Balt.. Trustee.
Baltimore Sc Annapolis first f 1900
5 g F-A
1,000,000 Aug 1 1946
mortgage. $1.000,000__ t f( Fidelity Trust C o.. Baltimore, Trustee.
(Interest at Alex. Brown & Sons. Baltimore.
Bonds.— A sinking fund of 114% on Maryland Elec Ry 1st mtge. bonds
out began Mar. 30 1910. 8808.000 (inch in amount outstanding) held In
gen. sink, fund Sept. 1 1919. Bonds are redeemable at 110 and int. on any
Int. date upon 90 days’ notice. Int. payable at office of Alex. Brown &
Sons. See V. 83, p. 818. 970.
Dividends.— First dividend (1 )4% ) was paid in Jan. 1907 and 2% was
paid July 1 1907. In 1908. Jan.. 1% : July. 1% : none since.
ROAD.— Operates 25 3 miles or track from Baltimore to Annapolis which
has been converted to electricity. The co. a Iso owns a good deal of track
age which has been built for and leased to the United Rvs. Sc Elec. Co.
OFFICERS.— Chairman of board, John Wilson Brown; Pres., J. N.
Shannahan; V.-P., T . C. Cherry; Sec. A Treas., Austin McLanahan; Gen.
M gr., C. D. Porter; Aud. & Asst. Treas., G. S. Storrs.— V. 98, p. I60S.
1694. 1767; V. 105. p. 1419.
______________
B A N G O R ,
M E .
BANG O R R A ILW A Y & ELEC T R IC CO.
O RGAN IZATION .— Incorp. Feb. 16 1905 in Maine and Is a consolida
tion of the Bangor Orono A Old Town R y ., Bangor Hampden A Winterport Ry.. Public Works C o.. Old Town Electric C o., Brewer Water Co.
and Penobscot Water A Power Co. On Feb. 1 1907 purchased the Bangor
St Northern R R . V. 82, p. 333. Owns the entire capital stock of the
Bangor Power C o., the Orono Water Co. and (with the exception of one
share) of the Bar Harbor & Union River Power Co. Owns and operates
the electric railway lines in Bangor and Brewer and the lines connecting
Bangor, with Brewer, Hampden, Old Town, Charleston and inter
mediate towns. Also the entire electric lighting and power business of
Bangor, Old Town, M ilford. Bradley, East Corinth, Orono, Brewer.
Hampden, Veazie, Kenduskeag anil Orrington, with the exception of the
municipal lighting in Bangor, and furnishes the water supply to Veazie,
Old Town. Stillwater, Milford and Brewer, in addition to the above the
company, through its controlled companies, does the entiro electric lighting
and power business in Ellsworth, Blue Hill, Bar Harbor, Seal Harbor, etc.
Also furnishes the water supply to Ellsworth aud Orono. Population
served estimated at 65.000 (incl. controlled cos.).
.
.
Franchises. Franchise for about 8 miles of track in Bangor expires in
1937; franchise covering operation of 2 miles of track in the city of Brewer
expires in 1940. All others are perpetual.
_^ .
fares.— In Dec. 1918 was auth. to. increase fares from 5 to 6 cents as an
emergency measure. V. 107, p. 22, 87.
,
...
The co. has been auth. to issue 36 promissory 6 % notes, each for 81,466
dated Apr. 23 1919, maturing in monthly installments and secured by a car
trust mtge. V. 108. p. 2628.
8 TOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity
$2,000,000
See text
Common, $2,000,000 (8100).............
Q-E
1.500,000 July’ 19.1M
Pref $1,500.000 7% cum($ 1 0 0 )-----7QJ
2,000,000 July 1 1935
1st cons M , geld. $2,000,000.1 1905
5 g J-J.
($500. $i,000)_______ c* tfiGuaranty Trust C o.. New York, trustee
Pub Wks Co. 1st,gold.$600.-1
1899 5 g A-O
599.000April 11929
000 ($500. $1,000)-- c*n tf (in t. at Old Colony Trust Co Boston, Trus
Bar HarA Un R PowOo 1st A\ 1907
o M-S
606.000 Sept 1 1935
ref.$ 2 .0 0 0 .0 0 0 ($ 1 . 0 0 0 )c*tf/Commercial Trust Co. Phila.. Trustee.
Bar Harbor Electric Light Col
1901 4>4 M-N
100.000 May 1 1921
1st M $100,000 ($500) c n tf/ln t. at Portland Nat. Bank, Portland. Me
Bangor Power Oo, 1st rntge.i
1911 See text
1.361.000 Sept 1 1931
$2,500,000 (SI,000) — c*tf/Central Union 3 rust C o.. N. Y . trustee.
Orono Water t’ o, first m ort-f 1905 4)4 J-J
60,000 July 1 1 9 -5
gage. 860,000 gold, not/Int. at Portland (M e.) Nat. Bank. Union
subject to call ($.501)) _ m t f ( Safe D ap.* T r. C o.. Portland. Me. Trtw
Car trust certifs., $52.776____1919
6%
See text
See text
Bonds.— The first oonsol. bonds are secured by deposit o f all the stocks
(except 1 share of prof.) and 8386.000 1st A ref. mtge. bonds of the Bar
Harbor A Union River Power Co. They are subject to call on 60 days
notice at 107)4 and interest on any interest date. Interest at office or
trustee. New York, or Eastern 'Trust A Banking C o., Bangor. See
particulars, bonds, property, A c ., V. 87, p. 1009. 'Tim Public
SS;
bonds are not subject to call; V. 80, p. 2456. $1,000 retired. $1.018.0^j>
Bar Harbor & Union RWer Power Co. bonds have beon Issuod of whiUi
$386,000 are deposited under Bangor R y. & Elec. 1st cons. M ., $16,000 are
held In special funds by that company and $(.06,000 in hands of the pub
lic. Of the remainder, $100,000 aro reserved to retire the Bar Harbor
Electric Light bonds and $892,000 for extensions. &c.* at Ho ;c
Thev »re sruar.. p. & 1.. by Bangor Ry & Elec. Oo. and are
to
call at 107)4 A int. on any int. date on 60 days’ notice. Int. at trustee or
Merrill Tr. C o., Bangor; also at J. A W . Sellgman A C o.. N . Y . Trusteeo
Bar Harbor Elec. Light Co. bonds is Union Safe Depoelt A Trust Co
Portland, Me. Of Bangor Pow. Co 1st M . bonds. *750.000 Series A (ah
o u t), bore Int. at 4% to Sept. 1 1916; bear 4 )4 % to Sept. 1 1 9 2 1 * 6 ,e there
after to maturity. Series B. 81.750.000 auth. (inf.. 5 % ). $611,000 Issued
and outstanding, and $1,139,000 reserved for extensions betterments Ac.
at 85% o f cost of same. Int. payable at office of trustee and at pfnee In
Bangor. Subj. to call at 105 A int. on any int. date on 60 days notice
N o s. f. Both series assumed by Bangor Ry. A El. Co.
D i v i d e n d s — 5% per annum p 3 ld on the o l d stock (all of one class) from
Oct. 1 1905 to Oct. 1909, when 1)4 % (quar.) was paid, which rate was com
tlnued to Oct. 1910. In 1911. 7% . In 1911 stock was Increased »nd new
pref. stock was created, on which 1
been Pnld qui^- from Jan 1912
to and incl. July 1919. On common initial dividend o f ! *4■%wasP^.M.;M a y l
1914 and )4% quar. to and incl. Aug. 1918; N ov. 1918 div. omitted (V
107, p. 1848). None since.
__
RE PO RT.— For years ending Juno 30:
Balance,
Calendar
Gross
Net (after Interest, Pref.Div.
Sur. or lief
Year—
Earnings. Taxes).
&c.
(7 % ).
1918-19 ................. .8980.653 $345,295
8243,822 $105,000 def. $3,52
1917-18___________ 910,855 371,355
234,007
105.000 sur. 32,348
Revenue passengers carried in calendar year 1918, 6,927,854, transier
and non-revenue passengers, 571,512. In 1917, revenue pass., 7,001,884;
transfer and non-revenue passengers, 579,426.
„ „
ROAD.— Operates 66.11 miles o f single-track equivalent. Ralls. 4.
to 90-Ib. girder and T standard gauge. 59 pass, and 22 freight cars, 3 gravel
cars, 7 snow-plows, 1 sprinkler and 6 misc. 3 hydro-electric plants with
12,260 k.w. (of which 1,525 k.w. can bo operated either by steam or water)
capacity and 1 steam station developing GOO k.w.
OFFICERS.— Pres., E . C. Ryder; V .-P., Frank Silllman Jr.; V.-P. A
Gen. M gr., E. M . Graham: Clerk A Treas., Howard Corning; Aud., C. A
Pearson. Jr. Under management of E. W. Clark A Co.— V. 106. p. 497
1460; V. 107, p. 801, 1747, 2287; V. 108, p. 2628
Fare Decision— In Nov. 1914. the Vermont Supreme Court held that the
Barre & Montpelier Trac. & Pow. Co. is obliged to maintain a fare n o tto
exceed 5 cents within the city limits of Barre and Montpelier and give
transfers so long as the franchise is in force. V. 99. p. 1528.
STOCK AND BONDS.
Dale.
Interest. Outstanding.
Maturity.
Common $1,000,000 ($100)......................... - .............. $1,000,000 - - - - - - - - - Pref $3,810,000 ($100) cum...............
6%
1,337.000 July 19 1H
1st refund mtge $2,500,0001 1914 5 g A-O
479.400 Oct. 1 1944
($100 A $1,000)__ c*Ar*tf\Int. at Ames. Trust C o., Boston. Trustee.
Barre A Montp Trac 1st M gf 1897
5 g M-N
100,000 Nov 1 1937
$100,000 ($500 eacn). n otiln t. at American T r. C o., Boston, trustee.
subject to ca ll_______ tfc * (
_________
.
Consolidated Lighting C o_________ 5 J-J
700.000 Jan
1 1920
Vermont Power A Ltg C o_________ 5 M-S
400.000 Mar 1 1927
Oorry-Deavitt-Frost El C o............... 6 M-S
115,000 Mar 1 1930
Waterbury Light A Power C o . ____
5 M -N
94.000
See text
Stock.— $2,473,800 pref. stock is reserved for conversion or 1 st ref.
mortgage bonds. Tax-free in Massachusetts.
Bonds.— The above bonds of light and power companies are assumed
by the Montpelier A Barre Light A Power Co. $250,000 of the 1st ref.
bonds became convertible at holders’ option Into pref. stock at par ot M ar. 1
1916. As of Aug. 1 1918 $27,600 had been so converted. $2o7,000 addi
tional bonds will become convertible into pref. stock at par on Mar. 1 1921.
Red. as a whole at 105 and int. on any int. date on 4 weeks notice. $1,149,
000 bonds are reserved to retire underlying bonds and $844,000 for
additions and improvements at 75% of cost.
$205,000 Consol.
Ltg. Co. bonds and $97,000 Vermont Power A Ltg. Co. bonds are held in
sinking funds (incl. in amts, reported outstand.). The Waterbury Lt. A
P. Co. bonds mature $0,000 yearly to N ov. 1 1921; then $7,000 yearly to
Nov. 1 1931. The Barre A Montpelier Trac. 1st M . 5s originally fell due
Nov. 1 1917 but were extended for 20 years.
. . _ ,
Dividends.— A div. of $2 50 was paid on the pref. stock Apr. l 1913,
covering the 5 months from date of organization on Nov. 12 191- to April 12
1913: $1 50 paid July 15 1913 and $1 50 quar. since to and incl. July 1919.
EARNINGS.— For years ending Dec. 31:
. _ ,
.. , . . n .
Dec. 31 Yrs.— Gross Earns.
Tot. Net Inc. Int. A Rents. B al.forD iv.
1918 ............. ........
?
$205,079
*112.891
$02,187
1917 ......... ............ 401.237
203.755
104,109
99.645
PRO PE R TY.— Power plants have an aggregate capacity of about 14,77*5
h.p., and 4 , 0 0 0 h.p. in addition is available by contract; 1 1 *4>*0 h.p. Is
waterpower. The steam plants, under normal conditions, are held largely
as a reserve; 130 miles of i |
about 4,000 h.p. capacity,
owns 9.75 miles of track '
Gauge 4 ft. 8 ) 6 In.
_ _ _ . a
OFFICERS.—Oh. of Bd. o f Directors, C. H. Tenney; Pres , H. T. Sands.
1st V.-P., A. B. Tennev; Clerk, H. P. Wood: Treas., E. A. Bradley; Asst.
Treas.. I. S Hall; Aud., H. A Gidnev
Under management of Charles
H. Tenney A C o.. Boston.— V, 104. p 2015; V. 105, p. 1999.
B A T O N
R O U G E ,
L A .
BATON ROUGE ELECTRIC CO.
,
. . . .
ORGANIZATION. Ac.— Organized in Louisiana; does entire electric
railway, electric-lighting, power and gas business In Baton Rouge. Ran*
way franchise expires 1940; gas 1942, electric-lighting and power, 1988.
V. 8 8 . p 881.
STOCK AND BONDS.
Date.
Interest. Outstanding.
Maturity.
$300,000 June'19.4%
Common, $500,000 ($100)...................................
Pref. $250,000 ($100) 6 % ........
J-D
200,000 June'19.3%
1st mortgage, $750,000. gold!
1909 5 F-A
500,500 Feb 1 1939
($500 and $ l,0 0 0 )--.c V tf I Int. at Old Colony Trust Co. Boston .trustee
Gold coupon notes, $300,000,\ 1918 6 J-J
150,000 Jan 1 1920
($500 A $1.000)...................jInt. at Old Colony Tr. Oo., Bost.,
trustee.
Stock.— Div. on pref. Is cumulative from June 1912. Redeemable at 110.
Bonds.— $7,000 bonds, not lnd. In amount outstanding, aro In treasury of
company; remaining bonds may be Issued at not oo exceed 80% of cost of
additions and Improvements. May be called, in whole (or in part for sink,
fund) at 105 and int. on any Int. day. Sinking fund of 1% per ann. of
bonds out began Feb. 1 1914. $25,500 canceled
The 2-vnarnotesare
callable as a whole at par and Int. on 30 days’ notice. $3,000 are held
in treasury.
Dividends.— On pref., 3% s.-a. from Dec. 1911 to and Incl. June 1919-.
Initial div. of 2% on com. naid Dec. 1915. In 1916. 7% . In 1917, 8 % .
In 1918, 8 % ; in 1919, June 3% .
EARNING S.— For 12 months ending June 30:
Year—
Gross. Net,after Taxes. Interest. Sink.Fund. Surplus
1919 ....................$314,115
$i26,711
$42,107
...........
$84,604
119,280
39,272
...........
80,008
1918 ______ _____ 245,509
ROAD.— Operates 6.23 miles of track In form of a single bolt through
Baton Rouee: 9 cars: standard gauge. Power station capacity, 1.500 k.w.
OFFICERS.— Pres., Harry H. Hunt; V.-Ps., Edw. Godchaux, Samuel
Weis; Sec., Alvah K. Todd; Treas., Henry I). Sawyer; Gen. Mgrs., Stone A
Webster M gt. Assn.; M gr., I. Maxwell Stover.— V. 101. p. 1806; V. 104, p.
1488.
________
________
B E A U M O N T ,
T E X .
PASTFPN T F V A 8 PI FCTKMC CO
ORGANIZATION.— Incorp. in Texas In July 191S as a consolidation o f
tho Jefferson County Traction Co., Beaumont Elec. Light A Power C o.,
Port Arthur Light A Power Co. anil Beaumont Traction Co., all of whose
stocks had been owned by tho Eastern Texas Electric Co. (of M e.), a hold
ing company. V. 107. p. 695. Does tho entiro electric light and power busi
ness in Beaumont and Port Arthur, the entire electric railway business in
Boamont and operates an interurban electric railway between Beaumont
and Port Arthur, a distance of 20 miles. Light anil power franchises in
Beaumont expire in 1963; in Port Arthur in 1943; railway franchise In
Beaumont expires in 1901; interurban railway almost entirely on private
right of way.
In Aug. 1918 issued $750,000 3-yr. 7% notes to retiro $500,000 3-vt.
5% notes maturing Dec. 1 1018 (called for payment at par and int. Oct. Id
1918 at State Street Trust C o., Boston) and to reduco floating debt Incurred
for additions and extensions. V. 107, p. 905.
,
Fares.— In Dec. 1918 a petition was presented to tho City Council or
Beaumont requesting it to rescind tho 6 -cont faro which had been granted
the company on Nov 6 1918. V. 107, p. 2476.
STOCKS AND BONDS.— Date.
Interest. Outstanding. Maturity.
5
$ t, 4 0 0 ,0 0 () July'19, 2)4
Common, $1,400,000 ($100)......
Pref cum $1,450,000 ($100)_
BJ-J
1,400,000 July’ 19. 3%
1st mortgage gold ($500 and/
1912 5 g M -N
1,410,500 N ov 1 1942
$1,000)_________ c*A r*tf. tint. at State St. Tr. C o., Boston, trustee.
Coupon notes $1,000,000 gold/ 1918
7 g F-A
750,000 Aug. 1 1921
($100. $500 A $l.0 00).c*tf\ ln t. at State St. Tr. C o., Boston, Trustee.
Beaumont Traction 1st M tge/
1903 5 g A-O
270,000 April 1 1943
$600,000 (call at 105)__ tf \Xnfc. at Interstate Tr. A Bank. Co., Trustee.
Stock.— Pref. stock Is callable at 110. $50,000 held In trust for benefit
of company (in addition to amount shown above).
Bonds.— Authorized amount of bonds not limited. Additional bonds may
be Issued for 75% of cost of acquisitions, impts., add'ns, Ac., under rertam
restrictions. Callable as a whole (or in part for sk. fd.) at 105 and int.
Coupon bonds In denomination of $1,000 and $500 and registered bonds of
$5,000 and multiples. V. 95, n. 1745. $15,000 In sinking fund canceled
and $270,000 are reserved to retire tho Beaumont Trac. 1st M . 5s. Sinking
fund of 1% of bonds out, payable Nov. 1. The 3-year coupon notes are
redeemable as a whole on 30 days’ notice at 101 and int. prior to Aug- 1
1920 and at 100 and int. thereafter. No further bonds may do issued during
the life of these notes unless the proceeds are applied to the retirement of
notes. V. 107, p. 905. $330,000 Beau. Trac. 1st M . bonds are held by
tho Eastern Texas Elec. Co. lied, all or in part at 105 and int.
Dividends.— 6 % is being paid on pref. stock. Initial div.— 2% — on old
Maine corp, was paid in July 1916. In 1917 and 1918, 5% ; in 1919, 5%«
EARNINGS.— For 12 months ending June 30:
,
Year—
Gross. Net(aft.Tax) Oth.Inc. Interest. Sink.Fund. Surplus.
1919 ........$1,244,435 $477,487
$8,275 $156,172
...........
1918______ 1,018,129
455,891
21,105
135,602
--------341,393
PROPERTY AND PLANTS.— Combined capacity of power stations
B A R R E ,
V T .
at Beaumont and Pori Arthur, 0,500 k.w.; power Is also supplied to Port
M O N TPE LIE R A BARRE LIGHT & P O W E R C O .
Arthur Trac. Co. Capacity of Ice plant at Port Arthur. 75 tons per day.
O RGAN IZATION .— Incorp. in Mass, on N ov. 12 1912 and owns 91% Miles of equivalent single track, 29.8; trackage. 2.04, standard gauge.
of the stock of the Barro A Montpelier Trae. A Power Co. \lso owns 39 pass., 4 trailers and 5 other ears. Tho 2 0 -mile electric railway between
all the stock of the Consolidated Lighting Oo.. Vermont Power A Ltg. Oo., Beaumont and Port Arthur was formally opened on Dec. 15 1913. * . 9 i.
Molly's Falls Elec. Lt. A Pow.
and Waterbury Lt. A Pow. Oo.; also
assets o f Oorry-Deavitt-Frost r.iee. Co. Supplies electric light, heat and ^ O F F IC E R S .— Pros., Marshall M . Phinney: Sec., Geo. A. Peirce: Treas..
power in Barre and Montpelier and in practically all o f Washington County, H. B. Sawyer; Gen. Mgrs., Stone A Webster Mgt. Assn.; M gr., A. »
Townsend.— V. 107, p. 695, 905, 1192.2476; V. 109, p. 1079itci
Vt. Franchises are perpetual.
Not., 1919.]
ELECTRIC RAILWAYS
B E N T O N
H A R B O R .
M I C H .
B EN TO N H ARB OR-ST. JO E R A ILW A Y & L IG H T CO.
9
B I R M I N G H A M ,
A L A .
B I R M I N G H A M R Y . L I G H T & POWER.
Controlled by the American Cities Co. (see under “ New Orleans” ), which
owns 89.62% of the common and 79.35% of the preferred Rtock.
Receiver.— On Jan. 23 1919 Judge Grubb of the Federal Court appointed
Lee J. C. Bradley receiver for this company and the Birmingham Tide
water Co. upon petition of the American Cities Co. V. 108. p. 377.
Committee for 6 % Notes.— Chairman, Thos. J. Walsh; Morris K. Parker.
E. W. Rollins, Harris Stetson, Geo. Taylor: Sec.. Miss D. Earl, 43 Exchange
Place, N. Y . City. Depositary, Equitable Trust C o., N . Y . Deposits
have been called for. V. 108, p. 1059.
ORUANIZ a ITUN.— Consolidation on June 13 1901 of the Birmingham
Gas C o., the Consolidated Electric Light Co. and the Birmingham R y.,
Light A Power Co. Owus and operates the entire street railway, gas,
electric-light and power and steam hast business of Birmingham and all the
principal near-by cities and towns, including Brighton. Bessemer. Boyles an
Irondale; an in-erurban line about 12 miles of which Is in operation, from
East Lake to Ensley and Pratt City: does the city lighting in Birmingham,
Bessemer and Brighton. Franchises covering gas, electric-Ught and power
business and street railway lines are, with some unimportant exceptions,
stated to be perpetual. Has a contract with the Alabama Power Co. by
which the latter furnishes electricity for operating the railways and also for
light and power service In Birmingham. Under this contract the company's
steam station Is held as a reserve plant. V. 98, p. 1691.
In April 1917 acquired the stock of the Blrmingham-Tidewater Ry. In
consideration of the guaranty of that company’s bond issue, principal and
Interest. V. 104, p. 1590
Fares.— In July 1918 the voters of Birmingham defeated a provision
authorizing the co. to charge a 6 -cent fare. V. 107. p. 905. On Aug. 23
1919, however, the City Commission auth. the co. to increase fares to 6 cts.,
effective Sept. 4 1919. This increase is temporary and may be modified
by the City Commission at any time. V. 109, p. 981.
Wage Contract for Three Years from Sept. 1 1919.— See V. 109, p. 1179.
Up to time of going to press the $1,200,000 2-year notes due Apr. 1 1919
had not been retired.
STOCK AND BONDS— Dale.
Interest. Outstanding.
Maturity.
Common ($100), $3,900.000-...........
J-D
$3,900,000
See text.
Pref($100), $3,500,000 6 % c u m ____
J-D
3.500,000 Dec 17. 3%
BIDDEFORD & SACO R R .— A trolley road.
Birmingham Ry A El 1st M g[ 1894 5 g J J
849,000 July 2 1924
ORGANIZATION.— incorporated Feb. 19 1887.
$1,250,000 ($1.000)____c * /ln t. at Central Trust C o.. N . Y . BlrmingNot subject to call.
I ham Tr. A Sav. C o.. Birmingham. Trus.
STOCK AND BONDS
Date.
Interest. Outstanding. Maturity
Gen M . ref. $10,000,000.1 1904
4 <4 g A-O $8,720,000 April 1 1954
Stock ($50) $100.000.........................
A-O
$100,000 Apr T 9 .5 %
gold ($1.000)__________ c*( Int. at Comtnercial-Gerraania Tr. A Sav.Bk.,
1st mort $300,000 ($1,000) ( 1900
1 g J-D
150.000 June 1 1940
I New Orl.. Trus., or at N .Y . Tr. (Jo. N .Y .
gold c*. No s f but can be/ interest at Fidelity Trust C o.. Portland
Ref A exten M $25,000,000/ 1907
6 g M-N
4.711,000 May 1 1957
called In 19 20.................t f t Me , trustee.
($1,000) gold sink, fund.c*/Interest at Old Colony Trust C o.. Boston,
Dividends.— During years end. June 30: 1906, 4% ; 1907-09, 5% : 1910.
Not subject to call.
I Trustee, and N. Y. agency of company.
744% (changed tos.-a.): 1911 and 1912. 5% : 1913 and 1914. 6 %: 1915, 8 % :
6 A-O
1.200.000 Apr 1 1919
1916; 10% and special div. of 20% on Aug. 1 1916. In 1917. 10%. In Notes $2,000,000 ($1.000)- ,c » 1917
Bonds.— Of the uew $25,000,000 bonds, $9,580,000 are reserved for prior
1918. 10%. In 1919, April. 5% .
Ileus, $1,200,000 for the cost of new power house if first lien on same, and
EARN INGS.— For calendar years:
Year—
Gross.
Net.
Int., A c. Dividends. Surplus. $9,486,000 for 80% of the cost of additions if the net earnings are 114
times the Int. on all bonds outstanding, lucl. those to be Issued, and provided
1918.......................... $86,815
$20,655
$9,820
$10,000
$835
1 0 % of gross earnings have been expended for maintenance within previous
24,661
8,446
10.000
6,215
1917.......................... 85,417
ROAD.— Operates 8 miles o f track between Saco. Blddeford and Old 12 months. The directors may make the rate of int on succeeding install
ments not to exceed 6 % . Sinking fund of (4 of 1% of bonds out began
Orchard Beacn.
In Sept. 1919 $46,000 was held by trustee for sinking
OFFICERS.— President, C. H. Prescott, Blddeford; Secretary and Sept. 1 1918.
fund. Bonds purchased to be held alive and interest thereon reinvested.
Treasurer, E . F. Lord.— V. 70, p. 1048; V, 73, p . 494.
For details of bonds, property, A c., see V. 87. p. 1603. Of the gen. M . of
1904. no more bonds can be issued. Sinking fund of !4 of 1% of bonds out
begins Aug. 1 1924. The bonds are sub. to call at 105 A int. on any Int.
SCRANTON & BINGHAMTON RY.
day on 60 days notice.
For 1st 5s of 1894 $12,500 per ann. is pay. Into
Receivership— Default.— In June 1918 V.-P. R. W. Day and director a sinking fund; $413.000 have been canceled. The 2-year notes are red. at
O. R. Bedford o f the Binghamton Ry. were appointed receivers of the 10014 and Int. on 30 days' notice. Interest payable in New York. Re
Scranton A Binghamton Ry. upon application of Binghamton R y., due to maining notes are reserved for exts., improvements, Ac. V. 104. p. 1144.
tho S. & B. R y .’s inability to meet the Interest due Juno 1 1918 on the Up to Get. 1 1919, these had not been retired.
$2,900,000 6 % bonds due in 1960. V. 106, p. 2451.
Dividends.— First div. on prer. stock, of 3% . paid In Jan. 1902, and 3%
Committee for S. A B. 6 s.— Chairman, G. Tracy Rogers; F. W. Wollor- s.-a. thereafter to and incl. Dec. 1914: in June 191.5, none; Dec , 3% . In
ton, William L. Foster, 4V. L. Oonnoll, F. L. Fuller and G. R. Bedford
June 1916, 3% and 1% on acct of arrears; Dec., 3% ; June 1917, 3% and
Wilkes-Barre, attorney. V. 107, p. 182.
’ 1% on account of arrears; Dec., 3% ; none since. On com. stock in 1903.
ORGAN IZATION .— Ineorp. in Delaware Oct. 15 1910. Owns entire 3 % ; in 1904, 4% ; in 1905, 4% : in 1906, 5% ; in 1907 and 1908. none; 1909.
Stock of the Scranton & Binghamton RR. and has assumed Its bonds
2% ; 1910. 5% ; 1911. 7% ; 1912, 8 %; 1913 and 1914, 6 % : none since.
The Scranton* Binghamton RR. owns 99% of the stock of the Bingham
REPORT.—
Gross
Net after
Interest and
Surp.,for
ton R y., the entire stock o( Scranton & Binghamton Traction Co a con Year—
Earns.
Taxes.
Oth. deductions, renew .Ac.
trolling Interest in the Nortnern Electric R y. and over one-half of the bonds 1918.......... - ..............$3,742,865
$1,094,445
$838,486
$255,958
of the Northern Electric Street R y. (whose stock Is owned by the Northern 1917........................... 3.655,894
1,306.441
830.088
476.3.53
ROAD.— Operates over 150 81 m. of single track in cities of Birmingham.
Electric Ry.). The Northern Electric Street Ry. Is leased for 900 years
from July 1 1910 to the Scranton & Binghamton Traction C o., which has Bessemer and in Jefferson County. It is reported that the co. will build
assumed the former's bonded debt.
a line connecting Vinesville and Fairfield. Standard gauge. All but 26
Fares.— In Sopt. 1918 filod with the Penna. P. S. Comm, a new tariff miles 70 to 100-lb. T girder rails. Owns 250 passenger. 58 freight and 25
Increasing fares in zonos In and out o f Scranton, the minimum charge In miscellaneous cars. Total, 333.
Scranton being advanced from 6 to 8 cents. V. 107. p. 1102.
OFFICERS.— Pres. A Gen. M gr., J. S. Pevear, Birmingham; V .-P ., Lee
C. Bradley: Sec. A Treas.. J. P. Ross: Asst. Sec. A Asst. Treas.. N. H.
STOCK AN D BONDS— Date.
Interest. Ou standing. Maturity
Hawkins.— V. 104. p. 1488. 1590. 1700; V. 106, p. 818, 2559; V. 107, p.
Stock $6.000.000...............- - - - ............................
$6,000,000 . . . . .
Scran. & Bing RR $10,000.0001 1910
6 J-D
2.900,000 June 1 I960 500, 905; V. 108, p. 377, 1059; V. 109, p. 981, 1179.
g($1.000. $500* $100).-c* l Int. at Anthracite S. Bk.. Wilkes-Barre trus
Birm ingham -Tidewater Railway Co.
Northern Elec St Ry $1,200.-1 1907
5 J-D
1,200.000 June 1 1957
Receiver Appointed.— See Birmingham R y., Lt. A Power Co. above.
000 ($500 and $1.000)--C*/Tnt. at Anthracite S. Bk.. Wilkes-Barre trus
ORGANIZATION.— A reorganization in 1917 of the Birmingham Ensley
Bonds.— Scranton & Binghamton R R . bonds are callable since Juno 1 A Bessemer RR. as per plan No. 1 in V. 101, p. 1013. T te company's
1915 at 105 and int. Northern Elec. St. Ry. bonds are red. at 105 and Int
$325,000 stock was transferred to the Birmingham Ry.. Lt. A Power Co. in
Sinking fund of $10,000 per annum began Dec. 1 1912.
consideration o f the latter's guaranty of the payment of prin. and int. o f
EARNINGS.— Of the combined properties for 12 mos. ending June 30 this company's bonds.
1 9 1 7 , gross. $1,009,614; net, $374,717.
In 1916, gross. $886,742; net
$348,116.
ROAD.— 46 miles In operation between Scranton and Montrose, with a
branch to Lake Winola. The road as projected will extend to Bl'neham- the Fidelity Trust Co.. Baltimore. Deposits have been called for.
tonl N. Y .— V. 100. p. 1833; V. 106. p. 2451; V. 107. p. 182. 1102.
Fare Increase.— See Birmingham R y., Lt. A Power Co. above.
( 1 ) Binghamton Railway C o.— A trolley road.
BONDS—
Dale.
Interest. Outstanding.
Maturity.
The Scranton & Binghamton RR. owns 99% of the stock.
First mtge $4,000,000 gold! 1916
5 g J-J
$1,500,000 Jan 1 1946
Receiver Appointed.— On Oct. 8 1918 Judge Geo. W . Ray In the U S
($500 and $ l ,000)---------c *fln t. at Empire Trust C o.. N. Y ., trustee.
The bonds are red. on any int. date at 101 and Int. They are guar.,
Dist. Court in Albany appointed William G. Phelps receiver for the’eo"
p. A L, by the Blrm. R y.. Lt. A Power Co. V. 104. p. 1700.
V. 107, p. 1481.
R OAD.— Owns and operates 19 102 miles of 1st main track. 12.145 miles
ORGANIZATION.—-Is a consolidation Sept. 30 1901 of the Binghamton
R R . Co. (chartered Aug. 11 1892 as a consolidation of all street railways In 2d main track. 0.805 miles sidings. A c., 0.676 miles misc.; total, 32.788
city) and the Bing. Lestershlre & Union R R . Principal franchises granted miles. 85-lb. steel rails; standard gauge. Has 25 P-A-Y-E steel coaches.
26 dump cars, 8 misc. cars and 1 ten-ton crane. V. 104, p. 1700; V. 109.
by special Acts o f Legislature, and are perpetual and practlcallv exclusive
7Fares.— In Jan. 1919 Judge Ray In tho IT. S. Dist. Court at Binghamton
p. 981.
_____________________
Issued an order permitting the receiver to ask the P. S. Comm, for auth
to incroaso fares to 6 cents V. 108, p. 377.
B L U F F T O N ,
I N D .
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity
M A R I O N & B L U F F T O N T R A C T I O N C O . — A trolley road.
Stock. $1,160,000 ($100) — . . . . . .
4 F-A
$978,995
See text
O R 0A N IZA T IO N .— Incorp. in Indiana June 1914 as a reorganization
Rlaghamton RR Oo mtgel 1893 5 g J-J
482.000
See text
of the old Marion Bluffton A Eastern Trac. C o., sold under foreclosure in
$900,000.8 ($1,000)--C*tf lInt. at Metropol. Tr. C o., N. Y ., Trustee
Feb. 1914. The old company was placed in receivership as a result o f
Bing Lest & Un 1st M $250.-[1895
5 g J-D
147.000 June 1 1925 a head-on collision on July 7 1912 in which four persons were killed and 60
000 gold, principal andj Interest at Metropolitan Trust, New York or more injured (V. 95. p. 297).
Interest guar----------------tff Binghamton Trust C o.. Trustee.
Fares.— In M ay 1918 was auth. by the Indiana P. S. Comm, to increase
Bing Ry 1st consol mtge. $2.-1 1901
5 g M -N
1.745.000 Nov 1 1931 fares from 2 to 2 14 cents per mile, mileage books to be sold on a basis of
500.000
gold ($1,000) c*tf(In t. at Fidelity Trust C o.. Buffalo, Trustee 2 cts. per mile and commutation books at 1.56 cents a mile. V. 106. p. 2345.
( or Seaboard National Bank, New York ’
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity
Equip trust cert.if ($90.000). . 1915
6 F-A
54 000
See text
Stock $216,000 ($100)----------- -----------------$216,000
^
Receiver's certificates $75,000- 1918
6%
30.000 . .
1st M gold $504,000 ($l,000)j 1914
5 g J-J
504.000 July i 193*
Bends.— The bonds or 1893 mature $5,000 yearly 1910 to 1917; $l(T 6 6 o
Sink. fd. 1% per annum. ) Int. at Fletcher Sav.A Tr. Co . Indianan Tr
yearly from Sept. 1 1918 to 1922 and balance Sept. 1 1923. Of the Bing
EARNING S.— For cal. year 1915. gross, $111,254; net. $35,304.”
’
hamton R y. 1st consol, mtge., enough are reserved to retire underlying
HOAI).— Operates 32 miles of track between Marion, where connection
bonds and the remainder for acquisitions, extens., A c., under careful is made with Union Irac. Oo. of Indiana lines and Ind. Rys. <fc Lifcht Co
restrictions. They are subject to call at 110 and int. Exempt from N. Y . and Bluffton, Ind.. connecting there with Fort Wayne A Northern Indiana
State, county and municipal personal property taxes. See V. 73 p 1312’ Trac. and Union Trac. Co. of Indiana. Standard gauge. 70-lb T rail
V. 78. p. 701; V. 8 8 , p. 748. The equipment trust certificates of 1915
OFFICERS. Pres., James W Sale; V .-P .t Ahram Simmon- Sec A Act
mature $5,000 somi-annually. They are secured by 20 double-truck cars
ing Gen. M gr., James S. Clark; Treas., J. S. Gilliland.— V. 106, p.’ 2345.
costing $118,503.
Dividends.— 2% was paid Jan. 31 1902; 2% Mar. 3 1903; 2% April 11
BLUFFTON OENEVA & CEL.INA TRACTION CO.— This road,
1904 and 2% April 10 1905. A scrip dividend o f 20% was paid April 18 consisting or 19 miles of track on private right of way between Bluffton
1905. In 1906 to 1910 Inch, 2 H % yearly. In 1911. Sept., 3 % . In 1912 and Geneva through Vera Cruz and Linn Grove, was sold at receiver'*
and 1913, 4% . In 1914. Feb , 2% . None since.
sale on Oct. 13 1917 to Thos. Fllnn for $118,000. At last accounts th«
ROAD.— Operates 49.25 miles o f track. Connects Binghamton with dismantling of the line was under way.
Johnson City, Hooper, Endicott, Union and Port Dickinson. Standard
gauge. 60-Ib. to 103-lb. T and girder rail; 75 motor cars and 27 trail cars.
B O I S E
C I T Y ,
I D A H O .
EARNINGS.— For year ending Dec. 31:
Year—
Gross.
Net.
Int. A Taxes.
Surplus
B O IS E V A L L E Y T R A C T IO N CO.
Controlled through stock ownership by the Idaho Power Co. (V. 104. p.
1918..................................... $648,243
$125,324
S186.039 def$00,715
148', ail of whose common stock except direators’ shares is in turn owned by
1917..................................... 705.030
242.925
160.953
81,972
1916........................
051.527
244.872
142.337
102,535 the National Securities Corp. (V. 100, p. 1673. 2010). The Trac. Oo. own*
r'O F F IO E R S.— Pres., F. L. Fuller; V .-P ., R. W . Day; Sec., W . H. in fee all the railway property of the old Idaho R y.. Lt. A Power Oo. except
the Boise RR. C o., Ltd. (now the Boise R y., V. 105, p. 715). There
Hecox; Treas., E. M . White. Office. Binghamton. N. Y .— V. 100. P
remains outstanding against the property the following issue of bonds:
980; V. 106. p. 2122; V. 107, p. 1481; V. 108, p. 377; V. 109. p. 1079.
ORGANIZATION.— Incorporated In Michigan in Jan. 190ft and Is a con
solldatlon of the Benton Harbor & St. Joseph Electric R y. A Light Oo
and the St. Joseph River Traction Oo.
Fares.— In Sept. 1919 was auth. by the Mich. HR. Comm, to increase
fares on the interurban lines to 2
cents per mile. V. 109, p. 1079
STOCK ANO BONDS.
Dale.
Interest. Outstanding. Maturity
Common ($100).........................................................
$800,000 . .
Preferred, $400,000 ( $ 1 0 0 ) . . . -----ft F-A
400.000
See text
Refund mtge *2.500,000 gold/ 1909
5 g M-N
499.500 N ov 1 1939
($500 and $1.000)..........c Interest at Columbia Tr. Co . Louisv., trust
1st cous M . $1.000 000, gold 1906
5 g M-N
825,000 Nov 1 1935
($500 and $1.000)............. c Int. at Columbia Tr. C o., Louisv.. trustee
B H & 8 J Ei Ry
. & L 1st M ,/ 1900
5 g M-S
114.000 Sept 11920
$200,000, gold ($1,000) — lint, at Con. & Com. Tr. & Sav. Bit., Chi., tr.
Hands.—Of the $1,000,000 1st consolidated bonds, $114,000 are re
served to retire prior liens.
They are subject to call on any iut. day at
105. The bds. of the old co. after 1910 have a sk. fd. of $10,000 per anu,
but bonds cannot be called. See V. 71, p 1208: V. 72, p. 282. Of the ref
bonds, $1,006,090 are reserved for prior liens.
Dividends.— Pref. divs. at rate of 6 % per annum are being paid.
EARN ING S.— For years ending June 30:
June 30
Oper.
Net (after Other Interest, Pf.Divs. Balance
Year—
Revenues.
Taxes).Income. Rents.Ac. (6 % ).
Surplus.
$131,330
$592 S84.53S $24,000 $23,385
1918-19________ $269,688
1917-18............... 508,566
118,955
240
90,189 24,000
5,006
R O A D .—Operates 10.36 miles of single track in St. Joseph and Benton
Harbor, with extensions of 25 miles through Eau Claire to Dowagiac and
11.33 miles to Watervllet: also operates 4.73 miles second track. 5.7 miies
sidings, A c .. and 3 miles of leased line, making total mileage operated, 60.12
miles. 60, 70 and 73-lb. girder and T rails. 44 passenger and 34 other cars.
OFFICERS.— Pres.. O. K. Mlnary. Benton Harbor. Mich.; V.-P.. Hen
ning Chambers, Louisville, K y.; Sec., L. W . Botts, Louisville.— V. 109,
P. 1079.
________^ __________
BIDDEFORD, ME.
BINGHAMTON, N. Y.
[V ol . 109.
ELECTRIC RAILWAYS
1 0
BONDS—
Date. Interest. Outstanding. Maturity.
Boise & Int 1st M $5,000.0001 1906 5 g A-O
$1,020,000
1946
g ($1,000)8 f&sub to call.c&r jlnt. at Colonial Trust Co., Pittsb.. Trustee.
ROAD.— 69 miles single track equivalent of interurban lines and 11 miles
of city lines; total, 80 miles.
B O S T O N ,
M A S S .
BOSTON ELEVATED RAILWAY.
,
ORGANIZATION.— Charter granted In 1897 provides for an extensive
system of free transfers.
„
,
. ,
On April 29 1903 leased from the Old Colony Street Ry. (now merged In
the Bay State 8t. Ry.) aU that company's tracks In the city of Boston,
amounting to 23.753 miles. The lease Is for 99 years and provides that
besides paying taxes the Elevated Co. will pay 6)4% of replacement value
(appraised at $353,979. less the rental of certain short pieces of track
appraised at $13,866) of the property leased as of date Feb. 16 1903. and
4% on th cost of all additions and betterments.
Lease of TVest End.— The West End Street Ry. is leased until June 10 1922.
Consolidation with West End Street Ry.— In July 1911 Massachusetts
Legislature passed an Act (signed by the Governor on July 21 1911) super
seding that approved May 28 1908 (V. 84. p. 917. 1342). permitting the
consolidation of Boston Kiev, and West Ead 8t. Ry. at the expiration tr
the present lease, on June 10 1922 . 8% cum. 1st pref. stock of Boet. Elev
(having the ordinary voting powers, but not “ entitled to participate m any
Increase or issue of new stock, com. or pref.” ), to be issued, $ for $. for West
End pref. and 7% cum. (or 8% If arbitrators so decide)2d prel. (having
all voting powers without exception) for com. stock of West End. After
the issue of the new pref. shares no other stock to be Issued "prior or «vjual
to such 1st pref. and 2d pref. stock without the consent of two-thirds of the
holders of such stocks, respectively.” The Act also provided that the Street
Ry. forthwith sell to the Elevated Co. all unused real estate, the proceeds
not exceeding $ 1 ,500,000 to be Invested as a special trust fund and to accum
ulate until June 10 1922. Thereafter the annual income thereof shall be
applied to cancellation of 2d pref. stock. When all the 2d pref. has been
retired then said fund shall be applied by the Elevated Ry. Co. to any
purpose for which stock and bonds can legally be issued. See terms or Act
In V . 93. p. 344. Shareholders of both the Boston Elev. and Wert End 8t.
Ry. approved the Act; the former on Aug. 24 1911 and the latter on Sept. $
1911. V. 93, p. 664. Holders of Wert End com. and pref. stock may on
or before June 10 1922 exchange their stock at par for Elevated Ry. common
After June 10 1922 holders of Boat. Elev. 1st or 2d pref. may exchange
their stock for an equal amount at par of Bost. Elev. common.
On Sept. 6 1911. In a suit brought to test the constitutionality of the
Merger Act, Judge Colt in U. S. District Court sustained the demurrer of
the Wert End St. Ry. and dismissed tbe suit to prevent the merger. V . 95.
p. 618. New suit brought by » West End shareholder In France on Dec. 31
E.d s . ™ . E ,.
d r t . i o n ,,
the Tremont St. subway in Boston. See terms under West End Street R y.
On Dec. 24 1904 the East Boston tunnel (trader Boston Harbor) was
leased by the Boston Elevated Ry. until June 10 1922 for a rental of J4 of 1%
of earnings of all linos owned, leased or operated. The company also col
lected a toll of lc. per person, which went to the city, but tolls were abol
ished Feb. 8 1916 by an Act permitting the city to assume them each year
by act of the City Council appropriating sum sufficient to cover int. and
skg. fd. requirements for the year. The tunnel was opened Dec. 30 1904.
It extends from the main land to East Boeton, 1.4 miles, and cost $3,500.000.
On June 28 1902 Wasnlngton 8treet Subway Dill became a law. The city
constructed a tunnel for elevated trains and leased same to tbe Boston
Elevated Ry. for 25 years at an annual rental of 4)4% of total cost of constructlon, which was $7,901,700 net. V 88. P. 98. Proposition was ratified
by voters at Dec. 1902 election. V. 75, p. 28, 496. 1316: V. 77, p. 2097.
V. 82. p. 217. The Washington Street tunnel began operation Nov. 30
1908 * V. 87 p. 1477.
In’June 1906 the Mass. Legislature passed a law permitting the Boston
Elev. to construct two subways in Cambridge, and to Issue stock or bonds to
meet the cost. At the end of 20 years the city of Cambridge Is to have the
right to purchase these subways by paying their cost plus 7 % iut., less divi
dends. V. 83, p. 93. On Jan. 4 1912 the first through train was run in the
new subway: it was opened for public travel Mar. 23 1912. V. 94. d . 1185.
New Construction of Subways and Old Contracts Extended.— In July 1911
Mass. Legislature passed an Act (accepted by the city and Boston Elev.
in Sent. 1911) providing for the construction by the city of three addition?
subways, viz., Dorchester Tunnel, Boylston St. Subway and East Boston
Tunnel extensions, and the extension of all existing contracts until July 1
1936. the date to which contracts for new lines are to run. Annual rental
after expiration of old contracts to be as follows: Tremont 8t. Subway
(see under West End) , 4)4 % on net cost; East Boston tunnel (now expiring
June 10 1922). 4)4% on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring Nov. 30 1933). 414% on net cost. Annual rental for new lines:
Cambridge connection, for fust 20 years. 4 J4% on net cost; thereafter 4)4%
on net coat: Dorchester and Boylston tunnels and East Boston tunnel exrektion 4 H % on net cost. The Act also provides that all contract* are to
cSStaue after July 1 1936 until terminated"by a two-years' notice by either
nartv. The various new leases and extensions of old leases wers signed by
tbe parties thereto on Dec. 7 1911. V . 93, p. 1785.
The new Boylston St. rapid transit subway on which work was begun
M m 8 1912 was opened for traffic Oct. 3 1914 from the Tremont St. sub
way ‘ near Charles St., and the Public Gardens, westward toward Brook
line 1H miles. The subway cost the city about $4,500,000 (V. 99. p.1213).
The extension of the East Boston Tunnel, on which construction was begun
Nov. 29 1912, was opened March 18 1916, permitting an 18-m in111eachwhile
from Central Square, Cambridge, to Maverick Square. East
mated expenditure on this project, $2,400,000. V. 102. p.
lion of the Dorchestor Tunnel, which is an extension of tbo Cambridge subwav was begun on May 30 1912. The operation of cars to the Broadway
Station In South Boston was begun on Dec. 15 1917. and_th° completed
tunnel to Andrew Square wa3 opened for traffic on July 1 1918. On
April 4 1915 trains Degan operating to Washington Station, just east of the
Summer and Winter stations of the Washington Street TunneK and on
Dec. 3 1916 to South Station Under, at Dewey 8q. and South Terataal
RR. station. Cost of this tunnel without equipment la estimated at up-
plan, and pay $ 6 a share com. dlvs.; (11) State has option of taking over the
road by assuming liabilities, and paying in cash an amount equal to that
paid in by the stockholders; also State may take over West End St. R y. if
latter has already been merged into Boston Elevated, the West End pur
chase price to be an amount in cash equal to amount paid In by com. stocitholders of West End plus par value or the pref. stock.
Report of Mayor's Committee.— V. 108. p. 876.
Report of Trustees for 6 Mos. end. Dec. 31 1918.— See V. 108. p. 67SRoport for 11 months ending M ay 31 1919 was In V. 109. p. 67, 170.
Trustees.— The following have been appointed trustees under the
“ Public Operation A ct” : Chairman, James F. Jackson. Samuel L. l owers,
Winthrop Coffin, John F. Stevens and Stanley R . Miller (Sec.). V. 106,
p. 2755: V. 107. p. 80. 1836. 2374: V. 108. p. 70. 377. 479.
Decision.— On July 22 1919 Judge Pierce of the Mass. Supreme Court
refused to issue a temporary injunction restraining the State Treasurer
from paying $4 ,0 0 0 ,0 0 0 to the trustees to meet a deficit In the company s«
operating expenses as provided for in the above Act. V. 109, p. 379.
Compare V. 108. p. 377. 682.
,
„
_
.
"Control A ct" Upheld.— On April 3 1919 the Mass. Supreme Court In a*
•pinion submitted to the State Senate held that the Act above deswibetf
Is constitutional. The Senate requested the opinion In order to obtain
a decision from the court as to the constitutionality of two bills then pend
ing. both of which provided for a rate of fare less than the ‘cost or furnishing
service, tho deficit to be made up by direct taxation. The court held that
it is within the constitutional power of the Legislature to pass such legiaDeficit of Co', for 1918-19 Assessed upon Municipalities.— The total defitit
of the system for the year ending Juno 30 1919 amounted to $3.980.1o2,
plus $59,622 int. on the bonds of the Commonwealth, making a total of
$4,039,774 to be assessed upon cities and towns. Of this
tax
payers of Boston will be obliged to pay $2,905,931, or over 71% or th*
total deficit. V. 109. p. 774. A bill in equity has been filed In the Suprem*
Court. Boston, seeking to have the above assessment upon that city de
clared illegal. V. 109, p. 774.
.
a „ tt
« seo
New Equipment— Investment in Properly 1911-1916.——Bee_V. 104. p. 862^
In June 1918 the Mass. P. S. Comm, approved the purchase of 2 0 0 centre•ntrance motor cars and 100 trailer cars. V . 106. p. 2449: V. 108, p. Ib04.
Fare Increase.— In July 1918 a fare increase from 5 cents to 7 cents. erre«h
tive Aug. 1 1918, was announced. V. 107, p- 180, 290, 400, 500. 0 »
Dec. 1 1918 it again became necessary to raise the fares and an 8 -cent rare
was therefore put into effect. V. 107, p. 2097, 2288. 2374. In July 191*
fares were raised to 10 cents. V. 109. P- 67, 170.
Zone System Suggested.— V. 109. p. 887, _ 1Q ..
Relief from Subway Rentals and Taxes Asked.— In Dec. 1 9 1 8 the'trustees
petitioned the Legislature to relieve the co. from paying subway rentals
and taxes, in order that additional money may be provided for the mainte
nance and rehabilitation of tho system. V. 107 P - 2374. A bill Providing
for tho sale of tho Cambridge subway was killed by tho Legislature on June II
1919. V. 109. p. 171; compare V. 108. P- 678. A now bill, however, pro
viding for this sale was presented to the Legislature on July 7 1919. V. iuy.
P In March 1919 issued $3,000,000 5-year 7% debentures, prococds being
used to fund floating debt and for additions and betterments. Compare
V 108 p 972
'strike.— On July 17 1919 the men struck, demanding an eight-hour day
and 73H cents per hour where thoy formerly recoivod 48 cents per hour.
V. 109. p. 269. The strike ended July 21 1919. when the men wero awarde*
an eight-hour day and an increase in wages o f approximately 1 2 cent*
Pe8 TOCK a 'n d 9BONDS—
Date. Interest.Outstanding. Maturity.
Quar
*23.879.400
fee text.
Stock. $23,950,000 ($100).................
Pref stock. 7% cum ($100)...................................
3,000,000
Sco text.
Debentures, gold__ c& r.n tf? 1905 4 g M -N
8,500.000 M ay 1 1935
\Oid Colony Trust C o.. Boston. Registrar.
$4,800,000 Oct 1 1937
Debentures.gold_____c& r.n tf 1907 4)4 A-O
D ebentures.gold.._c*& r*.ntf 1911 4)4 M -N
£J0V 1
Debentures, gold— c*& r*.n tf 1912 5 J-D
8,288.000 Dec 11943
Loans and billspayable Dec. 31 1918.....................- 5,143.100
Debentures.................................1919
7%
3.000,000 Mar. 1 1924
Stock.— The pref. stock outstanding will be subject to the 1st and 2d pref.
stock, to be issued in exchange for the pref. and com. stock of the West
End St. R y., upon consolidation in 1922. It is proposed that stock shall
be subject to retirement at 105 and divs. and in liquidation recoivo 105 and
dlvs. V. 106. p. 2344. Listed on Boston Stock Exch. V. 107. p. 400.
Bonds.— The coupon bonds are In denominations of $500 and $1.00*
(except 1911 Issue, which are for $1,000 only), and registered bonds o f all
Issues are In denominations of $1,000. $5,000. $10,000 and $50,000.
In Dec. 1908 the Massachusetts Railroad Commission sanctioned
$6,650,000 additional stock (raising stock to $19,950,000) at $110 per share,
to defray the cost o f the Cambridge subway and for the construction of the
East Cambridge and West End elevated lines. V. 87, p. 1662; V. 8 8 , D.
1372. In Dec. 1912 increased its stock from $19,950,000 to $23,950.00?
and offered stockholders the right to subscribe for new stock at $105 per
share. V. 95. p. 1272; V. 96. p. 61.
.
Dividends.— iHrst dlv., 2 )4 % , was paid Aug. 15 1898. In 1899, 5 )4 % :
In 1900 . 4 )4 % : In 1901. 5 )2 % ; in 1902 to 1913 Inclusive. 6 % vearly; In
1914 rate was reduced and In Feb. 2% was paid. In July 1914 It was de
cided to pay dividends quarterly (V. 99. p. 341) and in Aug. 1)4% was paid;
N ov.. 1 )4 % . In 1915, 5 )4 % . In 1916, 5 % . In 1917, Fob.. 1 ) 4 % : M ay,
)4 % ; Aug.. 1 )4 % : Nov. dlv. passed (V. 105, p. 1897). Under public con
trol an initial dlv. of $2 0*1 1-16 on pref. was paid In Jan. 1919. In July
1919 $3 50 was paid. On common an initial div. of $2 50 was paid in Jan.
1919. In April, July and Oct. 1919 $1 25 was paid. See under “ Fublie
Management and Operation” above and V. 107, p. 2187, 2288; V. 108..
P’ REPO RT.— Report of Boeton Elevated R y. for year ending Dec. 31
1918. in V 108, p. 1604. Fiscal year changed in 1917 by Legislature to end
-------- Years ending-------- & Mos. end. Year end.
Dec. 31 '18. Dec. 31 ’ 17. Dec. 31 '16. June 30 16.
Revenue miles run......... 53,021.816 69.455,693 29,835.503 58.572.30$
Revenue pass, ca rried ..348,665.700 381,017.338 189.415.158 363.477.041
$
Earnings—
$_
9,444,521 18,126,247
Passenger-------------- — 20.337,460 19,008.052
560.725
725.824
353.359
Mails, rents, adv., & c ..
639,505
19,733,876
9.797.880 18.686.972
T o t a l....... 20,976,965
6.606,976
6.186,752
3,167,154
Net e a r n in g s ............... 2 ,9 §2’™o
94.256
84,531
43.764
85.728
Misc. Interest, &c.........
6,271,283
3,210,918
6.701.332
T o ta l.......- - ................' 3,066.595
®eC'
**EvereU E?eva°ted°Eitension.— The Everett elevated extension and bridge
In connection therewith were opened on Mar. 15 1919.
. n
t
Damages by Noise.— In Aug. 1902 Judge Mason, In the Supwlor Court
at Boston, held that the company is liable for damages from noise closed
by tbe operation of trains. V. 75. p. 496. ThU was affirmed April 1903
by Massachusetts Supreme Court. V. 76. p. 809. __
, 1Q1o the
867.196
438,970
1.011.729
928.600
Public Management and Operation— Service at Cost.— On^June 3 1918 the Int! on*West End d e b t..
536.871
290.136
§46,204
§§4.106
shareholders of the company and the West E
n
d
d
ffi
1 Taxes, West E n d . . . . . .
343.813
159.794
Taxes,
Boston
elevated.
371,312
326,397
the Act providing for public operation with service a t c o s t a n d a fixed
158,801
82.786
rate of return on the company’s common stock (compare V. lU2 . p. zuio, Taxes on earnings--------. r 0v s ? i
184.687
93,292
V. 104, p. 2450). A certificate accepting the Act and c^dence that Rental of subway------- 1.453,166
726,580
Dlvs. on West End stock
1,494,089 1,483,857
$3,000,000 new preferred stock had been subscribed forjby the stock
9 ,1 8 0
4,590
9,t80
7 ?'q§2
holders as provided therein were filed with the.1State Secretary later in Dlvs. on Som. Horse R y.
69.825
35,249
,,0 0 ,3 1 2
71,366
the month
V. 106. p. 2227. 2344. 2755. The Act went into effect Mlscell. lease rentals.
1,064,625
531,719
1.120,787 1.087,041
July 1 1918 and provides substantially as follows: (1) Road to be managed Int.onBos.El.fund.debt
65,053
33,094
fcy five trustees, appointed by the Governor; (2) Period of public operation, Int. on unfunded d e b t..
181.369
qrr’ roo
355.568
178.032
356.639
10 years or longer, at option of Commonwealth; (3) Trustees have power to Wash'ton St. tunnel rent
68.057
35,480
76,322
71,366
regulate fares and transfer privileges, and determine character and extont East Boston tunnel rent
28,357
49,400
do
do
ext. rent
100,715
99.608
of service; (4) Company to raise $3,000,000 by sale of pref. ®£.ock at not
71,008
35,525
Cambr’ge Connec. rent.
71,124
{1.105
207.515
101.361
Boylston St. subw. rent.
215,527
2 i 9 'oqo
13,846
4,649
Miscellaneous_________
22,343
1-.2J9
invs .
/ Vo anu com. u iv s . at rate oi
a t.narti iui iuok
next 2 years and $ 6 during balance o f period o f public operation; the nrst
Total
deductions
6.053,302
5.553,777
2,803,657
5,497.562
payment Is to be made 6 mos. after commencement o f public operation; (o>
Trustees shall adopt a schedule o f 8 different grades o f fares, o f which 4 shall Tl-dance sur or def ' d'e f 2 986 706 sur.717.506 sur.407,201 sr. 1,203,770
_ @ 2 3 5 (3)4)835,779 (3)716,382 (6)1,193,970
be below and 4 above rate o f fare first established; schedule shall be incrcaseu Dividends . ’.
whenever fare is changed, so that there shall always bo not less than 4 grades
Surplus or d eficit..d ef.3 ,644,941 def.118.273 def.309.121
sur.9.80#
above and 4 below the existing fare (see “ Fares” below). (7) Whenever in
* 2 )$ % on common; 2.04 1-16 on preferred.
come is insufficient to meet cost o f service, the reserve fund shall be drawn
n; if more than sufficient, excess shall be transferred to the reserve fund;
Road Dec. 31 1918 (“ R” Stands for Rapid Transit Track.)
Miles.
If on last day o f June 1919 or on last day o f any Sept., D ec., March or
Miles.
e thereafter, reserve fund exceeds by 30% or more original amount, and Main 1st track (16.801 “ R ” )248.9750 Owned by West End.............425.462
Income during preceding 3 mos. exceeded cost o f service, next lower grade Main 2d track (16.580 “ R ” ) 214.3230 Leases,trkge..&c.(43.281 “ R ") .109.40a
o f fare shall be adopted: if reserve fund is less than 70% o f original am t., anti Sidings. &c. (9.897 “ R " ) — 71.5640
during preceding 3 mos. income was less than cost o f service, next higher
grade or fare shall be adopted. Fare shall continue to be decreased or in
creased if reserve fund Is above or below said limits; (9) If reserve fund Is
w S i U ' S f ' l w ^ W f o 1w i ! o n » .
insufficient to meet deficiency In cost o f service. State shall make up the
deficit and assess same upon cities and towns in which the co. operates; u i i s was ali th bv the M a i s P s .C o m m . to purchaso 200 centre-entrance
(10) At end o f period o f public management and operation, road reverts to m o & r^ rT a S i I % ^ s o f t ii e f r a l i ^ ? “ p e . V . 106. P- 2449; V . 108. P. 1604board o f directors, who may continue to operate same on service-at-cost
176,903
E
loo'orf
3 o v .. 1919. j
E L E C T R IC
R A IL W A Y S
11
OFFICERS.— Pres.. J. Henry Neal; V.-P.. Charles S. Sergeant; Treas..
E A R N IN G S .— For year ending D ec. 31 1918. gross. $970 571; net,
Henry L. Wilson; Gen, Aud., C. K. Reed.— V. 108. p. 479 578 678
after taxes. $144,048; interest, & c.. $156,302; d e f., $12,253.
082. 876, 972, 1059. 1390, 1510. 1604, 1935. 2021. 2527; V .1 0 9 p. 67
R O A D .— ow n s 95.904 rniitto of tract iu N ew ton. Waltham, W ater
72. 170. 171. 269. 370. 774. 887, 982.
' P
’ town.
N atick. W ellesley, Framingham. H opkinton. N eedham . W estboro.
Companies Controlled by Boston Elevated Railway Co.
Sberburn, W ayland, Belm ont and Ashland, connecting with the W orcester
Consolidated Street R y ., the B oston Elevated R y. (at 4 points), & c.
(1) West End Street Railway.— A trolley road.
Forms a link in a through line from Boston to W orcester. Also owns 32.356
ORGANIZATION.— Leased to Boston Elevated Ry. until June 10 1922 miles o f track, leases 0.7.45 mile; total, 33.101 miles, extending from Arling
at 7% on common and18% on preferred in addition to the payment of ton Heights (terminus o f Boston Elev. system ) through Lexington and Bed
aijd other charges. Elevated assumed possession Jan. 1 ford to Billerica, where cars go through to Lowell without change, and also
1898. See terms In V. 65. p. 1223. Consolidation authorized with the to the Sullivan Square, Charlestown, station o f the Boston E lev. R y .. with
Boston Elevated Ry. See particulars under latter company.
branches to Waltham and to C oncord. T otal track ow ned. 128.254 m iles.
In Dec. 1896 leased the right to use the Tremont Street subway at 414 % 264 pass, and 14 work cars; 26 snow plows. 60 to 75-lb. T . and 95-lb.
of its net cost, stated approximately as $5,786,000 in Sept. 1898. when the girder rails.— V . 107. p . 1004; V . 108, p. 2 123: V . 109. p . 270. 8S8 .
third and last section was opened. Lease has been extended to July 1 1936
EASTERN MASSACHUSETTS STREET RAILWAY COMPANY.
Cost on which rental based Dec 31 1918. $4,344,613. Entirelength is
O R G A N IZ A T IO N , &c.— Incorporated early in 1919 in M ass, pursuant
1 2-3 miles, with a trackage of about 5 miles. See V. 63 p 1065 1117
V. 67, p. 528. 8ee Bost. Elev. for extension of contract and new construin’ to terms o f the “ Special A c t " respecting the B ay State Street R y . [as
On Apr. 2 1917 11,694 shares additional common stock were sold at auc described below] and has acquired substantially all the assets o f that
com p any, including the leases o f the Boston & Chelsea R R . C o ., ths B oston
tion in 8 lots at prices ranging from 51 M to 52)4- V. p 104 1389
In Jan. 1918 the Mass. P. S. Comm. auth. the issue of $375,000 bonds & Revere Electric St. R y . C o ., the E ast M iddlesex St. R y . C o ., the W in-
nisimmet R R . C o ., which see under separate headings below . Thn stock*
and bonds o f these companies are to remain undisturbed. T he other issues
remaining undisturbed are $1,177,000 6 % equipment notes o f the B ay
State Street R y ., due 1919 to 1927, and $64,000 first m tge. bonds nf thn
Peoples Street R y . due June 1 1923. Various underlying liens wsr# ex
tended at higher interest rates and these appear below.
note for one year.
Sale.— On April 21 1919 the property o f the B ay State Street R y . (except
On June 19 1919 the Mass. P. S. Comm, approved an Issue of $1 581 000 the R hode Island and N ew Hampshire lines) was sold at foreclosure
bonds to run not more than 30 years and to bear int. at not exceeding’7% to Arthur I. Glidden, in behalf o f the reorganization managers fo r $3,••0.00$
per annum. Proceeds were to be used to retire a like amount of 5% d e b e n preparatory to reorganization as the Eastern M assachusetts St. R y. Sain
tures due Aug. 1 1919. V. 108. p. 2529. Compare V. 108. p. 24§4 No was confirm ed April 26 1919. V . 108, p . 1721, 1822. On M a y 31 1919 thn
satisfactory bids having been received,for the above issue of bonds, the co. property was conveyed to the Eastern Massashusetts Street Railway On.
borrowed on short time notes funds to provide for the payment of the dehnn-1
Wage Award by National War Labor Board.— V . 109, p . 676.
T r u s t e e s i n C o n t r o l . — On June 1 1919 the fiv e public trustees appointed
turos due Aug. 1 1919. V. 109. p. 889. The 30-year bonds will be sold
-at a later date, we are informed.
b y the G overnor took executive control. V . 108, p . 2122.
T he purchase o f the $2,500,000 (see o fferin g in V . 108, p , 973). serial
STOCK AND BONDS—
Date.
O ^ ta n d in g .
M aturity,
bonds o f this com pany, issuable under the plan and also $ 1 ,000,000 nf thn
Com stock ($50) $14.029.850...........
$14,029,850 O c t -19.3 U cash
subscriptions offered to the stockholders was underwritten b y L ee,
Preferred ($50) $6.400.000.............
6.400.000 July T 9. 4% H igginson
& C o.
5% bonds of 1914........................1914
2.600.000 Mar 1 1944
S p e cia l A c t.— (1) Provides that the com pany shall be managed fnr
Bonds ($1,000) ........................ 1917
2.700.000 Feb 1 1922
10
years
b
y
5 trustees to be appointed b y the G overnor o f M assachusetts
Bonds ($1.000)............ c*_ntf 1902
5 -709.000 Aug 1 1932
The trustees appointed for the first 5 years are:
Bonds ($700.000)..-c&r.ntf 1908
, Z 29-200 Jan 1 1923
Bonds ($1,000)............ c&r.ntf 1910
1.604.000 July 1 1930 H om er Loring, Chairman; Arthur G . W adleigh, Fred. J . Crowlny,
- Earle P . Charlton,
Bonds-------------------------------ntf 1912
600.000 Nov 1 1932 Isaac Sprague,
Bonds _______
. . . . . 1916
(2) Gives to the trustees absolute power to fix rates and fares (fires frost
1
May 1 1936 the jurisdiction o f the P . S. Commission or any other authority) so as tn
Bonds ($1.000).......... c*&r.ntf 1917
Au8 1 1920
incom e sufficient to pay all costs o f operation (including taxes,
Bonds_______________________ 1917
.
?«I>t 1 1947 produce
Bonds ($1.000)--------------c*&r_ 1918
m aintenance and depreciation) and a return on the investment sufficient
Note.......................................
1919
375 000 Fe* 1 10“>4 to cover all interest requirements, the stated dividends on the preferred
Bonds'— interest on alfissues is payableat American Trust Co Boston0 stocks and 6 % per annum on the com m on stock o f the new com p any.
except on the 6-year bonds o f 1918 and the 3-year bonds o f 1916 and 1 Q1 7 ' Fares increased b y trustees from 7 to 10 cents on July 11919. V. 10$. p. 72.
which is payable at Old Colony Trust C o., Boston.
‘
Based upon the P . S. Comm ission's appraisal o f $40,282,340 as o f A u g. 31
OFFICERS.— Pres.. Joseph B. Russell; Treas.. Parkman Dexter — 1916, plus subsequent additions, the property valuation will b s abou t
$46,000,000, 6 % on which, or $2,760,000, is approxim ately ths perm itted
V. 107. p . *03; V. 108. p. 880. 2434. 2529; V. 109. p. 889. 982
0Xlcr*
initial annual return on the investment.
(2) Somerville Horse RR.
(3) Pledges the credit o f the State fo r paym ent o f principal s f s e t ex
Owns 8.03 miles o f track. Leased to West End Street R y. for SO iso ceeding $1,000,000 new Serial M tge. bonds maturing within Id years
yearly— 6 % on $153,000 stock. Dividends are payable M . & N . in Boston. from date; $2,500,000 o f those had to be and were sold imm ediately so as
to produce $2,500,000 cash, v iz., (a) $2,000,000 reserved for future additions
and improvem ents; ( 6) $500,000 as a reserve fund.
BOSTON SUBURBAN ELECTRIC COMPANIES.—A trolley system
A n additional $1,000,000 cash had to be realized from sale o f sth sr new
ORGAN IZATION .— This company is a voluntary association "formed in
securities for rehabilitation, &c. This m ade a total o f $3,500.0M new cask
Nov. 1901 on the same lines as the Mass. Electric Companies
Con
trols through stock ownership the Middlesex & Boston Street Rv rinin as a prerequisite.
In the M arch 29 1919 issue o f this publication the reader will find history
which the Natick & Cochituate St. R y., the Westboro & Hopkin St Rv
the Newton & Bos. St. R y.. the Newton St. R y. and the Lex. & Boston S t’ o f the Massachusetts Eloctric Companies and the B ay State Street R ailw ay,
R y. have been merged). In 1902 purchased Norumbega Park and Lexine! the predecessors, and the plan o f reorganization in condensed form . A *
ton Park. In 1908 Massachusetts R R . Comm, sustained action lncreasino extended outline o f the plan appeared in the M arch 8 , M arch 15 and March.
29 1919 numbers o f the “ C hronicle.” M odification in V . 108. p. 139$.
fares on several of the subsidiary lines from 5 to 6 cents. V 87 n 3 4 5
U pon com pletion o f reorganization the com pany will be capitalized ap
Has acquired freight rights in several o f the towns along its lines. ’
ately as follows:
S T O C K .— Shares have no par value, but in case o f liquidation the nre- proxim
STO C K A N D BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tw r itg .
ferred
shareholders
will
be
entitled
to
$100
persbare,
with
accrued
divid^nd^
C om m on (see text) par $ 1 0 0 - . ____ _________
$7,232,750 ___________
Mixa pnmmnn
narHHnaHmr nro no fa
__ UlVlueiKlS.
l s t p r e f cum ($100)_____ ____________
6 F -A 15
854,670
— ...
S k .fd stk $3,239,000 c u m ($ 1 0 0 )-----6 F-A 15
3.239,000
See text
6 F-A 1
2,998,500 _____ ______
P rof B stock cum ($100).................. .
one share of common Jointly. Listed on Boston"Stock"Kxch ^^Anr^iqrvf A
djus stock cum ($100).......................
5 A-O 1
8,719,000 ............ .........
On May 22 1913 the stockholders authorized the cancellation of thn ‘39 3 H7
ef M bonds $ 5 .-/ 1919 6 %
2.500,000 S»e text
•hares of cum. prof, stock outstanding and the issue or notes in place of 6 % Serial R
($1,000)_______ c* (0 1 d C olon y Trust C o .. Boston, T rustee
«in e, hold^havlng the option of taking cash or notes for their stock. 4 000.000
J4 % R e f M bonds....................1919
4 H J-J 1
14,956,000 Jan 1 1 9 4 *
5 % :R e f M jb on d s..................... . . 1 9 1 9
5 J-J 1
2,870,409 Jam 1 1 9 4 *
Fare Increase.— See Middlesex & Boston Street Ry..below
6 % 'R e f M b o n d s . ................ . . 1 9 1 8
6 M -S
971,4283ept 1* 1927
Date. Interest. Outstanding. ’ Maturity.
Option W arrants_____________
See text below
Common stock....................................................... 50,296 sh.
3-year
notes__________________
See
text
6
%
3,150,000
1922
Preferred stock, $4 per sh. cum------Q-J
31.203 sh
See'text''
B ay State St R y equip n o t e s ..
1917 6 g F -A
1,177,000 See text
Coupon notes, $2,000,000/ 1909 4 J-D
$1,100,800
D ^ i i qi q
♦Lynn & B oston 1st mtge, g .)
1894 5 g J-D
3,723,000 D ec 1 1924
($100. $500 and $ 1 ,0 0 0)... IInterest at Boiton Safe Deposit & Trust Co
$5,379,000 ($1,000) c ^ .n t f /I n t . at Old C olon y T r. C o ., B oston, Trustee.
Demand and time loans.............................................85.000
H G & D 1st m tge..............n t f 1899
6%
35,000x9ept 1 192*
Not**.— The 1909 notes are not specially secured, but are slmplVobllgi* M
y stic Valley St R y g ......... ...............
6%
60.000xJan 1 19 2 9
S ^ r 'c S t i n ^ M O s l e " - B
/ -
i V
j . f39SD” C1'“ * ° f “
” ”
*“
State Control Adopted.—cqi
See non
Boston Elev.
Ry. above; also
V. 106 n 2451
T - t., i „ i m o i
r or vu I * ‘ .VP* P* 4401.
♦Lowell Lawrence & Haverhill 1893
5 g J-D
607,000 June 1 192*
1st mtge, $1,900,000, gold, Subj. to call for the sink, fund at 105 * int.
$1,000....................... c*.ntf, Int. at American Trust Co., Boston. Trustee.
People’s St Ry, West New 1898
5 J-J
64,000 Jau 1 192*
bury 1st M, assumed..ntf Interest at State Street Trust Co.. Beaton
♦Brockton (Consol) St Ry 1st 1894
5 g A-O
689,000 Oct 1 1924
mort, $750,000, gold— ntf Int. at State Tr. Co., callable at 19* & int.
Boston Milton & Brockton 1899
6 J-J
100.000x.lan 1 1929
1st mtge, $100,000------ntf Int. at Internat. Tr. Co., Boston, Trustee.
N Bedford M ’dleboro & Brock 1900
5 g J-J
325.000xJa* 1 1929
1st M , $325,000 ($1,000), Int. at American Tr. Co., Boston. Trustee.
gold_________
ntf,
Prov & Taunton St Ry 1st g 1898
6 g M-S
150,000x3ept 1 192*
($1,000),auth ,$200.000 -ntf American Trust Co., Boston, Trustee.
period—
In c. from Securities.
Exp. A Int.
Divs
Sum
6 F-A
335.000xFeb 1 1929
Y e r . end. Doc. 31 1918...........$87,882
$85,367
s o 51 5 So Shore & Bos St Ry 1st M 1899
__________
___ Int. at American Trust Co., Boston, Trustee.
($1,000),
g,_________
$1,000,000-ntf
Year end. Dec. 31 1917 - - — -114.952
59,194
31*203
24 556
* These issues have the option of extension for 5 years from date of
OFFICERS.— Pres.. Adams D. Claflln: V.-P., Sydney Harwood- Treas*”
Ohas. W. Smith; Sec.. A. A. Ballantine; Asst. Treas., G M Cox — V ?02' maturity at 6 % . the Lynn & Boston 1st 5s to Dec. 1 1929, the Low. Law.
p, 152; V. 103. p. 60.1209; V. 104. p. 2640; V. 105. p. 2542; V 106. p". 818’ & Haverhill 1st 5s to June 1 1928 and the Brockton St. Ry. 1st 5s te Oct.
1 1929. These bonds if extended will be red. as gold bonds on any int.
(i) Middlesex & Boston Street Ry.— Trolley.
date at 103 and int. up to and incl. int. date 2 years prior to new maturity
ORGAN IZATION.— Organized in 1907 and took over the South Middie- date and thereafter at 101 and int.
,ex Street R y .. sold at receivers'sale July 1 1907. and has since acqu lrS
x These issues have been extended to the dates here given in accordance
Ind merged the Westborough & Hopkinton St. Ry.. the Natick & Cochlto
with plan. The extended issues, which in all cases formerly bore 5% int..
ite St. Ry. (V. 87. p. 1420) the Newton St. R y/(In to which wtltham St
now boar 6% with the exception of the Now Bedford Middleboro & Brock
ton St. Ry. 1st 5s which continued at the old int. rate. These issues with
Ry. had been merged, and which had acquired Commonwealth Ave St Rv
»nd Wellesley & Boston St. R y.). V 89,.p. 778, and the Newton & Boston the exception of the last mentioned are call, at 103, and during the 5 years
St. By. (V. 89. p. 993). On Slay 9 1912 Mass. R R . Commission granted preceding maturity at 101 and int. The N. B. M ’dieboro & Brockton 1st
are callable at par.
Bemission to absorb by consolidation the Lexington & Boston 8t R v and 5s Stock.—
All classes of stock have full voting rights, except that ths com.
**94$52^131° StOCk lD exchant?e $ for * for 8tock of absorbed Company;
stock has no voting rights until Jan. 1 1921. nor thereafter at any time
Fares.— In Aug. 1917 the co. accepted for a trial period of 6 months a when $5 of dlvs. upon the Adjust. Stk. are in default. Common stock is
modifiod faro schedule establishing 6, 7 and 8 cent fare units. These rates issuable under the plan to the amount permitted by the Special Act as
proving insufficient to meet its needs, the co. on Mar. 18 1918 filed a new determined by Reorganization Manager and for any further amounts
schedule with the Mass. P. S. Comm., effective July l 1918 eliminating found necessary by the Reorg. Managers for other purposes. The 1st
6-cent fares and strip tickets of 20 for $1 20 and establishing a 1-cent charge pref. stock and the sink. fd. stock are cum., ranking equally and pro rata
for transfers from a 7-cent to an 8-cent line, free transfers to be issued for divs. and in liquidation, and preferred as to dividends, and also as to
from an 8-cent to a 7-cent line. Compare V. 99, p. 1366. In July 1919 par and accrued dividends in liquidation, over the Pref. B stock, the
the co. filed a faro schedule with the P. S. Comm, which if effective will Adjust, stock and the com. stock. Issue of 1st pref. stock is not limited
put the system practically on a 10-cent fare basis. For details of now and- may be called all or in part (when drawn by lot.) on any div. date at
Schedule soo V. 109, p. 270. See also V. 109. p. 888.
ne
120 and divs. Any subsequent issue of this stock shall be entitled to such
The co. has applied to the Mass. P. S. Comm, for auth. to issue $25 000 divs. as shall be fixod at time of issue thereof. Stock of this issue in addition
7% equip, notes to bo dated April 1919 and to mature $2,500 each Ju’lv 1 to the amount shown as outstanding may be issued (a) in exchange, $ for $.
from 1919 to 1928, incl. V. 108. p. 2123.
JU 7 1 for Bay State Ry. bank loans and coupon notes whose holders may choose
1st pref. in preference to sink, fund stock; (b) $ for $ for Bay Stats claims
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
not otherwise provided for; (c) compensation of committees. &c. The sk.
Stock. $1.987.000...................................................
$1,987,000 In T7 1 « %
First and ref‘ M , $5,000,000 1912
4 ^ g J -J
1.483.000 Jan * 1 1932 fd. 6% stock is call, all or in part on aiv. day at par and int. in order of series
gold ($1.000)..................... c Int. at Boston Safe Dep. & Tr. Co., trustee. Numbers 1 to 21, inclusive, by a sinking fund to which the company is to
each year, beginning Feb. 1 1920, an amount equal to the series duo
Lex & Bost 1st M . $500,000. 1900
414 g A-O
500.000 July 11920
15 of such year, before declaring any dividends on or making any
g ($1,000), callable 105..C * Interest at Beacon Trust Co., Boston, trustee
purchase of any Pref. B stock, Adjust, stock of com. stock. The shares
Current liabilities Dec. 31*1918.................................
313.789 . .
to be redeemed shall be determined by lot in case funds are not available
Bonds.— Remaining first and refunding bonds are reserved for additions
for the payment of any series in its entirety. Of the sink. fd. stock $1,
extension and improvements. Callable on any interest date on 30 days
notice as follows: Jan. 1 1917 to July 1 1921. Inclusive, at 107H and int.: 425,000, including all of the first six series and part each of series 7 to 15.
Jan. 1 1922 to July 1 1926. Inclusive, at 105 and int.; Jan. 1 1927 to were allocated to bank loans and divided among the bank creditors in pro
portion to their claims. Series 1 to 14 are for $150,000 each. The rsm aiaJuly 1 1931. Inclusive, at 102H and Int. V. 94. p. 351.
notice°It l02aH'OC V 8n9' p I068
° D aay ,nterest date
60 days
r o a d .— Companies owned and controlled operate in the aggregate ahmit
131 miles of track from Needham on the south to Lowell on the^orth and
connecting at five points with the tracks of the Boston Elevated R y ' At
Westboro connection is made with the Worcester Consolidated
Dividends.— First of $1 on preferred paid April 1902: also $1 Julv 1902
and $1 Oct. 1902. In 1903. $4: In 1904, $2 501 in 1905 $ 2 -in 1906 *2 7 5
in 1907. $3. Jan.. April and July 1908 dlv. passed. In Oct 1908 dlvs’
resumed, and paid 75 cents. In 1909, $3. In 1910 to 1913 incl *4
Tn
H>14. $350. In 1915. $3. In 1916. $3. In Jan. 1917 Soi - Anril" 50c
None since. Arrears of dividends. $23 00.
' 0UC“ AprU- 50c'
REPORT.— For years ending Dec. 31:
E L E C T R IC
12
tag $1,814,000 o f this stock being the remainder o f Series 7 to 15. and all
o f series 16 to 2 1 . were allocated to the cou pon notes in the
of ^. „
m aturity o f the notes, beginning with * 57.000 o f the 7th
« i o 1918
m aturity, and increasing gradually to $ 202 ,000. ^
i
, hus, figures
21st series, for the 1932 m aturity. As a m atter o f convenience these
havo been prepared on the assumption that the o p t io n t o t a K e 1 st prei
R A IL W A Y S
[Vol . 109.
Outstanding. Maturity.
S T O C K A N D B O N D S—
Date.
Interest
$297,700 See text
Stock ($100). $300,000— . — — 10
100.000 Jan 1 1922
Plain bonds, int kiiar (end) - - 1902
4 J-J
__
, h
Interest at Old C olon y Trust C o .. B oston.
T he lessee in the lease agreed to stam p both issues o f the 1bonds with a
guaranty o f the interest— principal is not guaranteed. V. 67. P-
^ R G a' n IZ A T K J N .— ^OwnV 2^.08 miles o f main track
Leased to the
Lynn ft Boston (subsequently the B ay S ta teS t. R y .. now tho E x t e r n - l a ..St. R y .) for 999 years from 1880 at $3,000 per annum . Capital stoc
“ t> o n 'ltn y dl” ' “ ay at I/O and Int? T ^ a M o f tbe
is $50,000; par $50.
______
N E W P O R T & F A L L R IV E R S T R E E T R Y —
.
O R G A N IZ A T IO N .— Organized by special A ct on F eb. 23 ^ 9 8 . July 1
unless -ill the divs. on the A djust, stock in such year, if an y, are paid in
1900 consolidated with N ew port St. R y . Has also consolidated wIbetween
com stock and ( 2 ) shall be less b y at least 2 % than the rate o f the divs.
port Illuminating C o. Embraces 21.74 m . o f M i n t r a ^ I n and between
on the com ’, stock which in such year are paid in com . stock, unless all^he
N ewport and Fall River, also electric lighting. W a 8 J ^ ^ n°rvYU foston ft
divs. on the com . stock m such y ea r. if any. arei paid in com . s to ck . i
r<w a {]inot titnrk- is nreforred over the com . stock. Call, all or in part ao for 99 years to the Old C olon y St. R y . (since m erged In the Boston ft
dS A d tat*, on any d iv! S
The rate o f the divs. which in any year are N orthern, subsequently known as the B ay State St. R y.)
6
% per annum and int. on bonds. In Sept. 1919 wo were Informed that
paid in com . stock shall be less b y at least 2 % than the rate o f ™
Xli
the receiver for tho former Bay Stato St. R y . was operating
Ajl®
on the com . stock which in such year are paid in com . s t o c k u n l e ^ all
trustees o f the Eastern M ass. St. R y . C o. having
i n ^ e b 1902
divs nn the com stock in such year, if any, are paid in com . stock, stock
o f this Issue in addition to the am ount shown above as outstanding, could lease. T ho M ass. Elec. Companies disposed o f lfc« t e M j n g s i i , b. 1
In O ct. 1915 Issued $.50,000 additional stock and $123,000 bonds in ac
be issued in exchange, par for par. for c'»lm s agaiM t
W ectoic
cordance with lease to Bay State 8 t. R y .
nn Aue 1 1 9 l«
Companies participating in the plan other than claims in respect ot securi
T he co 's $240,000 1st m tge. 5 % bonds which ™ ^ u rod on A ug. 1 1 J 1 8
y.
‘ ‘ ^ T - T h r a l f r ^ m t g e . 6s mature $50,000 each Jan 1 1920 and were purchased for the account o f the receiver o t Bay State Strec
S T O C K . B O N D S . E T C .— Date.
Interest.
1091 and $300 000 1922-1929, incl. These bonds are issued under the co s.
R rfunding jSPtee. which will cover substantially all the pronerties subject S tock, par $ 1 0 0 ....................................
J-J
, 1 '2 o «'n o n J u l T l 1954
Consol m ortgage. $1,000,000,1 1904 4 H J-J
stee ^
to less than $ 10 ,000,000 underlying bonds »n d u n d lst^ b e d s ^ i t i r a .
gold ($1.000)............c * ft r t f Int. at A m . Trust C o .. B oston T r u s t s
T he int. on the Serial 6s is a charge ahead o f the int. on approxim ately
Newport Illuminating C o 2 d ) ------ , 8 g
T n r k T n is te e
25
$18 900 000 R ef. A ftge. bonds issued under the same m tge.
Call, at lu o
m ortgage, g o l d ................t f [Central T rust C o .. N ew Y o r k . T ruw ae.
on any i n t ° date on 60 days' notice. T he 4 * % ref m tge. bonds are red.
Bonds.— Remaining consol, m tge. bonds are reserved to retire prl
at 10.5 and int. on any int. day up to and mcl July 111943. at 104 and int.
in 1944, at 103 and int. in 1945. at 102 in 1946. at 101 m 194 /. Xno 5 /0 N ot redeemable. V . 79. p. 213. 501. 1462.
ref m tge. bonds are red. at 110 and int. on any int. day up to and incl.
B O ST O N & W O R C E S T E R E L E C T R IC C O M P A N IE S .
O R G A N IZ A T IO N .— This Is a voluntary association organlited una;er a
July 1 1938. at 109 and int. in 1939 , at 108 to 1940. 107 in 1 9 « . 100 n
1042 105 in 1943 104 in 1944, 103 in 1945. 102 in 1946, 101 in 1947. . i n 0 trust agreement dated D ec. 29 1902. Its p r o ^ t y TOnsisto o f t h e r a 6 % r'ef. m tge. bonds are red. at 103 and int. on any int. date up to and incl. tire com m on stock, $60,000 preferred stock. $181,200 First M K R
ten d s and $165,000 "n otes payable” o f tho Boston £ W ofeestor S tiw t
R y . It has issued 33,936 4 % cum ulative prof, shares and 34.614 M m m on
s* ?»
H . i T o T a m t a
S
f e
Plan A * M o . (to
shares, no par value, and $90,000 “ notes payable.
In <case
in
ref. mtge! serial bonds! ang installment or interest f m B O b U t i t
FI1. ,
to June 30 1921 may be extended at the option o f the company i f there is no pref. shares receive $100 each before the participation o f
available income as defined in the plan for the
a fJ^theT lose Jan. 1905 was listed on Boston Stock E xchange. Si°P^_T?£z!nCnnd 6 000
so extended plus 20 % o f its amount, shall be payable 60 days alter m o o s e
present am ount b y the issue in July 1906 o f 6'29RrSlVir0S
breo f the first pfriod ending June 30 or Dec. 31 in vM iavaihibU tinconu - a sd e, p ref., which was offered to shareholders at $105 for a b lock o f on P
fined in the plan shall have accrued for the V n y v ^ l thereof. but in no event ferred plus one com m on share.
____ _
. . .. .
_ iRfiftilater than Dec. 31 1925. In the meantime the total sum M payable stwil
R E P O R T .— For years ending June 30 (191 <-18 rop9rtJ”_Y2,l?^’ Q',rnlus '
Divs. on
Other
Total
Preferred Bxwmses Surplus
hptir interest nay able semi-annually at the rate o f 6 % p . a. isotn me saia 0111 Fiscal
Income.
Income. Dividends. % Taxes, or Deficit.
w Z T n d W a i d i n v e s t thereon shall be payable upon W ^ n ta U o n c J the Year— B.AW.Stk.
1917-18-.$25,313
$19,044
$44,357
*23-938
d i f ' 3 149
coupon for the installment o f ref. mtge. ^ ^ d i n t .
bonds
1 916-17-. 50,625
16.906
67.531
67.872
2.808
dof. 3.14y
Additional ref. m tge. bonds other than the rer. m tge. serial oonus,
1915-16— 75.937
15,636
91.573
84,840
1.773
sur 4 ,9 W
and the other bonds issuable under the plan, m ay be issued to an amount
M t exceeding at par value 6 0% o f the cost o f future adds, and im p ts.. but
D IV ID E N D S .— First dtv. on pref. stock. $ 2 . paid Ju‘ y .LafSt VJi 1015
only 0 when the annual net earnings available for the paym ent o f mtorest
•90S. incl.. $4; In 1909. $2; in 1§10. Jan.. * 1
11 •-“ ? n0^, 19^ ^
on the ref m tge. bonds are at least 154 times the interest charges on all Incl.. $2. In 1916. $2 50. In 1917. $2. In 1918. Jan .^ $1. N on e since.
O F F IC E R S .— Free.. William M . Butler: V .-P .. A. E. Childs. 8« t o ..J .^ ref mtge bonds outstanding and applied for and on all prior lien issues.
This n e T e A n iA s p r o .4 s io n m .y b y the firm o f Lee. f t e m s o n & C o. B acon; T reas., A . E . Stone.— (V . 105. P- 1305, 1308; V . 107, p . 1579,1666.1
as now or hereafter constituted, Harris, Forbes & C o ., I n c ., or its sue
B o sto n ft W o rce s te r S treet R y .— Trolley
M
1Qf)|
O R G A N IZ A T IO N .— Incorporated In Massachusetts on N ov.^15 19U1^
S ^ r and the firm o f W illiam A . Read & C o as now or hereafter con
Owns the Framingham Union Street K y.. Ta
stituted be waived in respect o f any issue m ade before Jan. 1 1929. In Franchise perpetual.
the discretion o f the R eorg. M grs. tho ref. mtge. m ay provide that it shall Ingham Southterough ft M arlborough Street R y . and the M arlteroug
ft Framingham St. R y. In M arch 1907 Mass R R . Comm ission granted
not be foreclosed for a period o f 10 years, and in such event a General M tge.
shall bo created subject to the ref. m tge. and covering the same properties right to d o an express and freight business over entire line.
On Feb. 21 1911 M ass. R R . Cntnm. auth an Issue o f $ . W ,200 6 % cum .
and s o u rin g prin. and int. o f all ref. m tge. bonds other than ref. mtge.
($100) pref stock (auth. by stockholders Feb. 2 1911). o f whl^ch $ 297 .ouu
Serial bond;?, and in the discretion o f the R eorg. M grs- the int. p r p r i n .o r
both o f tho ref. m tge. Serial bonds. Interest on the ref. m tge. Serial was used to retire like amount o f com m on Issued In 1910 (V . 90, p 025) ana
te n d s so far as secured b y this General M tge m ay be accorded priorIty remainder to fund floating d eb t. V. 92. p. 394. 525. 659. 724
.
In N ov. 1912 made a contract with the Boston Elevated R r . for t m
thereunder over any other obligation secured thereby, but subjoct to this
exception all obligations secured b y said General M tge. shall be equally operation o f express cars over that com pany's tracks to the rrelgnt express
secured thereby. Tho said General M tge. shall bo subject to fn ^ -losu r
terminal on Harrison Ave
. „
^
1
Rates.— In 1909 single-fare unit raised from 5c. to 6c. On. ^Oct. 1 l J l f
adopted, with the approval o f tho M ass. P . S. C om m ., a schedule based
at The B ay S t a t T s ^ ^ y ^ e o u ip - notes were issued to provide, in u a r D o r
tho paym ent o f 200 now sem i-conv. P -A -Y -E cars, costing SI .631.000. on a rate o f 2 cents .a mile with a minimum o f 6 cents for a single faro- v •
105, p. 1308. In July 1918 fares were increased to 2 '^ c . per mile; m ini,
N otes are due $131,000 annually A ug. 1 1918 to 1926. inch, and S,129,000
m um charge o f 6 c. unchanged. Freight rates were also advanced 2 o /o .
A n " 1 1927 but callable on any int. date at 100 and int. on 6 W®1®‘{S
On N o v . 24 1916 there were Issued 600 additional shares pref. stock at
T h e $131,000 which fell due on A ug. 1 1918 ^ r e p u r c h a s e d b y tbe rece.ver
Interest at Old C olon y Trust C o ., trustee. V . 105, p . 9 0 8 ._ 9 h e $13l,UUP $100 and $60,000 1 st 4 H s at par for paying o ff floating debt incurred Tor
Improvements
and for equipm ent.
,
.
due Aug 1 1919 were paid and retired.
In M a y 1917 tho P . S. C om m . auth. the issue o f $270,000 additional pref.
N otes-— The 3-vr. notes will be issued b y trustees (to be known as Adjust.
Trustees) viz . Francis L. Higglnson. Jr.. E . Elmer Foye and W alter E. stock and $40,000 additional 1st M . bonds (not issued up to Sept. 12 1918).
Wage Award by National War Labor Board.— V . 108, p . 478, 682.
Haehnlen. or such other persons as shall bo agreed upon b y the Reerg.
S T O C K A N D BON DS—
Date. Interest.
Outstanding.
M aturity.
M grs and the com m ittee under the agreement o f N ov . 30 1917. •Mljust,.
Stock,
com ($100).....................................................
82.025.000 D oc' 17, 1 £
stock at the rate o f $250 o f A djust, stock for every $100 principal amount
M -S
„ 457.200 Sept 18. 3 %
Pref. $457,200 ($100) 8 % cu m ...........
o f notos wifi be delivered to the trustees, and will bo the exclusive source
Bost ft W or 1st mortgage. 52,-) 1903 4)4 g F-A
2,460.000 A iig 1 1 9 2 3
o f paym ent o f th e notes. This A djust, stock m ay be purchased b y holders
500.000. gold ($ 1.000)c * t f [Interest at American Trust C o . B os.. T rus.
o f “ option warrants" (see below ) upon paym ent therefor at the rat® o f* 3 6 ,
— 7%
60.000 Jan 1 1 9 2 2
S38 and $40 a share, respectively, during the first, second and tMrd 12 Fram So ft Marl 1 st m tg _ t f /(Interest
at American Trust i 'o .. B o s.. T ru s.
m onths follow ing the date o f the notes, with an adjustm ent o f interest
Notes payable July 1 1 9 1 8 ________________________
*245,000 -----------------and dividends
A ny paym ents b y option warrant holders, whether o f hit* O f which $165,000 is held by B. ft W . Electric Companies.
or o f prin m ay be made in notes at 9 0% o f their par value and int. , during
Bonds.— T he Fram . So. & M arl. 1st m tge. 7s were originally 5s and ma
tho first 12 m onths follow ing tho date o f tho notes, at 95%
on Jan. 1 1919, b ut were extended for 3 years at 7 % .
_
19 m onths and at 100 % during tho next 12 months in each case minus tured
Dividends.— On pref. 3 % semi-ann. from date o f issue to and incl.
anv distributions previously m ade on such notes. All payments ™^eived 1918.
N one since. On com . paid 3 % July 1904; also 3 % semi-ann. until
from Option W arrant holders m ay bo he.d b y the trustees pending the
m aturitv o f the notes, or. in their discretion, distributed pro rata on all D ec. 1908, when 1 )4 % was paid. In 1909. June, 1 )4 % ; in 1910, J^j1-.
n o t « f^outstanding A t the m aturity o f the notes all funds in the hands o f 1 H % : in 1911. D e c .. 1 % : in 1912, June, 1 )4 % : D e c ., 1 H % - l n
?he Trustee.? and all A djust, stock unsold shall bo divided pro rata among 2 ) 4 % . In 1914, 3 % . In 1915, 2 ) 4 % . In 1916. 3 % % . In 1917. June.
c ., 1 ) i % . N on e since.
tho holders o f tho notes, and the notes shall bo surrendered ;!nd cancelod. 1 M % :P ODReT
.’— For years ending June 30
T h e trustees m ay sell A djust, stock at such prico as they shall think proper
Common
Balance.
Int. A Pref.Divs.
Net
Fiscal
Total
to facilitate this distribution and for the paym ent o f their e x p e n se and
Dividends.
Surplus.
Taxes.
Years—
Revenue.
Revenue.
(6 % ).
com pensation. Upon all purchases o f A djust, stock b y Option Warrant
[1 k i)$25,312d f$15.085
$178,613
$27,432
$216,302
1
9
1
7
-1
8
.$
8
6
0
,2
7
7
holders and in all distributions o f A djust, stock, tho t r u s t y unless and
[2)4) 5 0.625
170.552
26.832
264,274
1 9 1 6 -1 7 . 806.180
until 75% o f tho A djust, stock originally held b y the trustees shall havo been
75.938
42.205
23.832
312.921
170,946
1 9 1 5 -1 6 - 801,254
purchased b y Option W arrant holders, m ay in their discretion deliver^in
) 2 « ) 55.6 8 8
68.128
23.8 3 2
307,671
170.025
1 9 1 4 -1 5 - 738.797
He” o f stock certificates, voting trust certificates, enablmg the trustees
55.688
4.977
167.362
23.832
251.859
Itf
OtfsS,**/ #
ZO 1
IUI .OUA
4*0*004
U '4
-♦Ion
1
9 1LO-l**3 -1 4 - 692.477
-portion
under to retain tho voting power for such period.
R O A D .— Owns and operates 83.619 miles o f track, a considerable
portion
Option Warrants.— Are treated as par value o f tho Adjust, stock securing over private right o f w av, between Boston and W orcester. Including
the 3 -yr. 6 % notes (see above) which stock they are given the right to
extension to N atick. R alls. 75-lb. Has 91 oars.— V . 104 . p .1 7 0 0 . 1»«'''•
b u y. T hey are to bo available for Issuance under the plan as follows.
V . 105, p. 290. 1305. 1308: V . 106. p . 85. 2755: V . 107. p . 290; V . 10».
F or sale to holders o f Massachusetts E lectric Companies pref.
_______
p . 478. 682.
shares and com m on shares............................................ ...... ..................... ’qqo'qab
PUBLIC SERVICE INVESTM ENT CO.
.
. . ....
F or other purposes o f the p lan -------- ---------------------J V i V i V m n * in d leased
O R G A N IZ A T IO N . & c.— Organized In M aine In 1909 to hold and to oe a '
R O A D , & c.— The old B ay State St. R y . owned 875.37 miles and leased
jn stocks, bonds, notes and other securities. On O ct. 30 1913 stock was
72.35 miles, a total o f 947.72 m . o f main lino; also owned a n d l o i m t u l
increased from $2 ,000,000 each o f pref. and com m on to $3 ,000,000 eacn.
2.130 passenger and 264 express cars. Power capacity 49
h .p .. and 52 generators, 29,755 k .w .; 11 turbines. 22 .500 h.p- & l o , t
• • V STOCK—
’
Authorised. Par. Div. Period. Outstand’a. Last Div.
O F F IC E R S .— V .-P . & Gen. M g r ., R . B . Stearns; Asst. Gen. M m ., C
o m m o n .....................$3,000,000 $100 .......... - - - - - * 2 , 500.000 S o e tM t.
Howard F. Fritch; C om p t.. Caleb S . Jack son; A sst. Treas. L o u is W .
Pref. 6 % cu m ......... . 3,000,000
100 Q u ar.-F ob.
2.500.000 A u g
In
W ellm an; A tt y .. Philip G . Carleton.— V . 108. P- 268. 480. 973, 1 72 1 .2 0 -2 ,
Stock.— Preferred stock Is redeemable at option o? com pany at liftV . 109, p. 72. 172, 676, 887.
„
.
. . „ .
,
Securities
Owned
[Stone
<
%
Webster
Properties)
Dec.
31
1918.
fa) B oston 3c C h elsea RR — Owns 4 37 miles o f main track. Leased
Blackstone Val. G. ft El..*5514,«50|Tam pa Electric Co
------ b$233.8W
t o Lynn ft Boston Street R y . C o. (subsequently tho Bay State Sr,, liy . anu Capo Breton Elec. C o ......... *500.000: Oalv Houston Elec. C o ------- *500.0»5i
now tho Eastern Mass. St. Iiy .) at $7,260 per annum, equal to 6 % on M - i . Jacksonville Traction C o . .* 3 5 0 .0 0 0 1N orthern Texas El C o
* 500.000
000 stock, payable A . & O.
Houghton C ounty E l. L . C o .*500.0001Pug. Sd. T r . L .& P ow .C o* 1.466.800
H oughtno C ounty T ra c. C o .*100.090 Key West Electric C o .......... " 222.000
‘ b'. B oston * R evere E lectric S treet R y .
'
.O R G A N IZ A T IO N .— Tncorp. June 24 1889. Owns 3 78 miles o f m ats
Colum bus Elec C o _________n115.000 Key West Electric C o --------- *374.100
track. Leased from July 1 1895 for 99 years to Lynn ft Boston (subs FI l’ a.H<j Flee. O o _____ _____ .0(X)I
quently the B ay State Street R y. and now the Eastern M ass. St. K y .i '
• C om m on stock, a Preferred stock, b Capital stock.
which guarantees interest on the $50,000 m tge. o f 1908 and dividends o
See statements o f these com panies (except tho Blackstone Valley
ft F ,l r C o and the H oughton C o. Elec. Light C o.) on subsequent pages.
$50,000 stock from July 1 1898 at 5 % per annum.
__ un uret. I -j -0 -lUar. since Aug. 1909 to and Including A u g .
S T O C K A N D B O N D S—
IQ io
On com
^ t d i v V l W % - F « h . 1 1910: A u g.. } H % Tn 1911.
Stock (par $100)....................................
5 J-J
$.50,000 See text
3 <'5,. Tn 1912. 3 14 % . In 1913 and 1914. 4 % . In 1915. F eh ., 2 % Boston ft Revere Elec St R y l 1908
5 g M -S
50.000 Sept 1 1928
$50,000 gold ($1.000)___c* [In t. at American Trust C o ., B oston. Trustee.
N one since
IN C O M E . Years
____ ending D ec. 31:
— N o sinking fund, but bonds m ay be called on any interest date
Pref .Divs. Com. Divs. Surplus or
Expenses
'Calmdar
Total
on six weeks’ notice.
Deficit. „
(2 % ).
(8 % ).
S: Tates.
Year—
Income.
sur$37.952
(c) East M id d lesex S treet R y .
. w
$150,000
$10,077
1
9
1
8
-................
$198,029
sur.25.049
O R G A N IZ A T IO N .— Owns 19.3.5 miles o f main track. Leased M a y 1
150.000
9,096
su r.24.285
1893 to Lynn ft Boston (subsequently the B ay State St. R.v. and now the 1917__________ 184,115
150.000
5.573
_ 1 7 9 .8 5 8
Eastern M ass. St. R y .) for 99 years at a rental till M a y 1 1896 o f $18,000 1916
\ i fR E G T O R g ——Henry G . Bradlee, Russell R o b b , Clbas. A. Htone.r
yearly in addition to fixed charges; then till M a y 1 1901 $24,000 yearly
and for remainder o f lease $30,000 yearly. Eight per cent divs. had beon
p a id , but on M a y 1 1901 were Increased to 10% .
3H)
(2H)>
19.
Date.
Bonds.
Interest. Outstanding. Maturity
Ii'vuiewts
Nov., 1919.]
E L E C T R IC
B R A T T L E B O R O ,
V T .
TWIN STATE OAS & ELECTRIC CO.
ORGANIZATION.— Incorporated In Connecticut on Aug. 28 1006 and
acquired the Brattleboro Street Ry., the Brattleboro Qaa Light Co., the
Dover Gaa Light Co.(V. 83. p. 562). the Bennington Electric Co. and the
Hooslck Falls lilumluatlng Co. In Oct. 1913 acquired the St. Johnsbury
Electric Co. and in April 1914 the Cascade Lt. Sc Power Co. and the Berlin
Elec. Co. Furnishes gas. electric light and power to Dover, N. H., and
Bennington and Brattleboro, Vt.; also electric light and power to Rochester,
Salmon Falls, Rolliasford, Somersworth, Berlin, Milan, Gorham and Hins
dale, N. H.; St. Jehnsbury, St. Johnsbury Center, Passumpsie, Danville,
West Danville, North Bennington, Bennington Centre. West Brattleboro
and Newfane, vt.; Berwick. North Berwick, South Berwick and Lebanon.
M e., and Hoosick Falls, N. Y .. and operates the Brattleboro 8t. Ry.
Pres., Samuel Insull, in a letter dated Mar. 25 1916, said, "all the principal
franchises were granted by the State Legislature and have been construed by
counsel as perpetual.” Control is held by the National Light, Heat Sc
Power Co., control of which was In turn acquired by the Middle West Utili
ties Co. in Oct. 1912. V. 95, p. 1750
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Common, $2,600,600. ( $ 1 0 0 ) .-----*1.250.000
Pref(5%cura)$2.500.000 (*100)-----5’Q-M*
1,500,000 June’18 I X
7 Q-J
Prior lien (7% cum) $1,000,000 — —
400,000 ...................
fig A-O
1st Sc ref M $10,000,000 goldl 1913
1,940.500 Oct 1 1953
(*1,000, *500 Sc * 100)c*cpt\Guaranty Trust Co.. N. Y .. Trustee.
1st ref M. $1,500,000 g (*5001 1906 4H A-O
794.000 Oct 1 1926
Sc *1,000)................ —c*tf (Int. at Columbia Trust Co.. N. Y ., Trustee
5-year debentures *325.000.- —
_ 5 _____
300,000
6 g J-J 28
300,000 Jan. 28 1919
Secured notes, $300,000 g’ ’1918
($100, $500 & $1,000) c*tf M etropolitan Trust C o .. N . Y ., Trustee.
5
105,000 Sept 1 1925
Dover Gas Light con mort 1905
gage, $500,000 ________ tf Union Safe D ep & Trust C o .. Trustee.
‘
5
66,000 Feb 2 1923
Brattleboro Gas L Co mtg.ntf 1903
Hooelck Falls _________
I l l u m l n a t ____
'g Col
J ____
- - - - , ..............
71,000
1935
*150.000______ _______ __ tf/C olu m b ia T ru stC o.. N . Y .. Trustee.
H ooslck Falls E lectric C o l - - - ------ -—
65.000
1930
*75,000_________________ t f (O ld C olon y Trust C o .. B oston. Trustee.
B ennington-W ater Power
------ - ---------------64,000 1923
&
Light C o * 100 .000- - - n t f American Loan Sc Trust C o ., Trustee.
Bennington W ater Power Sc. . . . . - - - - - - - 12.500
1929
Light C o *30.600_____ n t f (O ld C olon y Trust C o ., B oston, Trustee.
Bennington E lect C o * 1 7 5 .- 1 — - - — - — 80,500
1935
000
____________ t f (Colum bia Trust C o ., N . Y ., Trustee.
8t Johnsbury E l C o 1st M — t f 1909 5 M -S
80.000 M a r 1 1929
Cascade Light & Pow er C o ___ 1905
-----------40,000 A pril 1 1926
Cascade E lectric L igh t * 1 1921
———
13.500 A pr 1 1921
Pow er C o ................ ............... /U nion Safe D eposit & Trust C o .. Trustee.
— The prior lien 7% stock is red. all or in part on July 1 1920 at
105, 1921 at 104, 1922 at 103 and 1923 or thereafter at 1 01 X and divs.
Has equal voting pow er with both pref. and com . stock if any d iv. remains
unpaid for one year. Is prior in lien b oth as to assets and earnings to the
5 % pref. stock and the com . stock. V . 109, p . 79.
Bonds.— $1,158,000 1st & ref. 6s are reserved to retire underlying bonds.
Additional bonds m ay be Issued for im pts. and acquisitions at 80% o f cost,
provided net earns, are at least 1 X times the lnt. charges on all bonds ou t
standing, lncl. those to bo certified. 1st & ref. 5s are red. on or after O ct. 1
1923 at 105 and lnt. A depreciation reserve fund o f 5 % o f gross earns,
began D oc. 31 1918. V . 102, p . 1988.
N otes.— T h e notes o f 1918 are a direct obligation o f the co . and are
secured b y pledge o f 1st & R ef. M tge. 5s in an am ount 2 0% in excess of
the notes. R ed ., all or in part, at 100 and lnt. on any lnt. date. Interest
payable in N . Y . V . 106. p. 716.
Dividends.— 6 % yearly has been paid regularly on p ref. stock since 1907.
E A R N IN G S .— F or cal. year 1917 and years ending June 30:
Years—
Gross.
(.Net (after Tax.) Bond ln t.
Surplus
1 9 1 7 - .......................*714,745
$266,606
$152,986
*113,620
1916-17...................... 672,951
288,733
138.174
150.559
191 5 - 1 6 ................ 570,123
270.S01
139.942
130.859
R O A D , & c.— Operates 5 miles o f track in B rattleboro. Owns hy d ro
electric plants a t G orham , Brattleboro, B ennington, St. Johnsbury and
H oosick Falls and a steam turbine plant at D over.
O F F IC E R S .— Pres., Samuel Insull: V .-P r., II. L. Olds; S ec.,
H . B ech
tel: Treas., O . A . Forrest. G en. offices, B rattleboro, V t.— V. 95 d 1750
V . 98, p . 156: V . 102. p . 1988; V . 106j . 608, 716, 1037, 1127; V . 109, p . 79.
Stock.
n.
B R I S T O L ,
C O N N .
T H E B R IS T O L & P L A IN V IL L E T R A M W A Y C O .
O R G A N IZ A T IO N .— Incorp. Sept. 21 1893 in C on n . Franchises per
petual. R oad first opened A u g. 12 1895; m erged with B ristol E lectric C o.
M a r. 31 1897: steam heating plant installed In 1902; T erryville branch
opened In 1903, W oodland St. branch oponed in 1906: gas plant Installed
In 1906; underground system Installed in 1916. In addition to railway
service, furnishes electric light and power In B ristol, Forestville and T erry
ville; gas in B ristol, Forestville and Plainville, and steam heat in B ristol.
In August 1908 a stock dividend o f 5 0% was declared, increasing o u t
standing am ount to *375.000. V . 87. p . 96. 414.
In O ct. 1914 stock was increased from $375,000 to S562.500, new stock
being issued M a y 1 1915. In O ct. 1916 stock was further Increased to
*618.800, and stockholders were offered the right to subscribe for new
stock pro rata at par. V . 103, p . 1687.
STOCK A N D BONDS—
Date. Interest.
Outstanding. M aturity
S tock. *1.000.000 ( * 1 0 0 ) -----------------Q -F
$618,809 A u g ’ 19, 2%
1 st m ortgage $800,000. gold 1905 4 X g M -N
540,000 N o v 1 1946
($ 5 0 0 & $1,000)------------ n t f (Interest at B ristol N ational B ank. BristolSubject to call at p a r---------- ITreasurer o f State o f C on n ecticu t, Trustee
Dividends.— In 1S99 to 1909. in cl., 6 % per annum : 1910, 7 % : 1911 to
and Incl. A u g. 1919 8 % per annum.
E A R N IN G S .— For cal. years 1918 and 1917 and years ending June 30:
Railway
Railway
Gas <5k Elec. Interest
Year— . Gross.
N et.
N et.
A Taxes. Dividends. Surplus
1918—
$151,748 $43,186
$90,315
$04,744
$49,502
$19,252
1 9 1 7 ___ 148,512
50,170
85,640
54,489
49,502
35 234
1916- 1 7 -1 4 2 ,9 1 9
41.610
94,307
39,707
47(250
48 960
1915-16— 119,311
40,464
54,728
30.500
45.000
19.692
R O A D , A c .— Operates 13.74 miles o f track laid with 56,60 and 72-lb.
T -rall connecting B ristol with Forestville, Plainville, Lake C om pou nce and
Terryville. Standard gauge, 34 cars, 3 snow plow s and 1 work car
O F F IC E R S .— Chairman o f board. Chas. H . Tennev; Pres. A B T e n
ney; V .-P ., D . E . M anson: S ec.-Treas., M orris L . T iffan y, Bristol C onn
Asst. Treas., E . A . Bradley. General M anagers, Chas. H. T enn ey & C o .:
B oston. M ass.— V . 97, p . 1662; V . 98. p . 154, 1535; V. 103, p . 1687.
B R I S T O L ,
T E N N .
B R IS T O L T R A C T IO N C O .
In A ug. 1919, B . L . D ulaney, form er President o f the road, inform ed us
that all the rails o f the co . had been taken up and disposed o f and the co
liquidated. F or history see "E lectric R ailw ay Supplem ent’ ’ M arch 29 1919.
B R O O K L Y N ,
N .
Y .
B R O O K L Y N R A P ID T R A N S IT .
Receivership.— On D ec. 31 1918 Federal Judge Julius M . M a yer in the
U . S. D istrict C ourt appointed Lindley M . Garrison (form er Secretary o f
W ar) tem porary receiver (on Jan. 15 1919 m ade perm anent receiver.
V . 108, p . 267) o f the N ew Y ork M unicipal R R . C orp . and the N ew Y ork
C onsol. R R . C orp ., subsidiaries o f the co .— see below— upon application
o f the W estinghouso E lec. & M fg . C o ., holders o f claims aggregating
$46,462 for materials and supplies furnished the com p a n y. T h e receiver
ship becam e necessary because o f the com p a n y's inability to m eet interest
due Jan. 1 1919 on $57,735,000 at 7 % and 5 % notes and also obtain fresh
capital for necessary now construction and im provem ents. V . 108, p . 76.
On Jan. 6 1919 Judge Edwin Louis G arvin m the U . S. D istrict C ourt
denied tho application o f a stockholder to have an ancillary receiver ap
pointed. V. 108. p . 170. On Jan. 15.1919 Judge Julius M . M a yer in the
U . S. D istrict C ourt denied the application o f tho oity for the appointm ent
o f a co-receiver. V . 108, p . 267. On July 14 1919 the receivership was
extended to the B rooklyn Heights R R ., B rooklyn, Queens C ounty & Su
burban R R ., Nassau E lectric R y . and C oney Island & B klyn R R ., which
com panies em brace the entire surface lines in B k lyn ., thus bringing the
whole system under tho jurisdiction o f R eceiver Garrison. On A ug. 26
1919 the receivership o f the surface lines was m ade perm anent. The
extension o f the rocelvership was m ade on the petition o f tno Central Union
T ru st C o ., N . Y ., in its suit brought to foreclose the B . R . T . 1 st & Ref.
M .*48 o f 1902, tho Jan. & July 1 1919 interest on which has been defaulted.
F or further particulars see V . 109., p . 269.
13
R A IL W A Y S
Receiver’s Certificates.— On Jan. 22 1919 the receiver applied to the
U nited States D istrict C ourt for authority “ to borrow upon the credit
o f the receivership estate the requisite am ount o f m oney ($16,859,357— E d .]
to be em ployed for the ob jects and purposes herein set forth (see V . 108, p .
377 — E d .(” and “ If necessary, to issue receiver's certificates in order to
procure the said funds, in such an am ount, in such denom inations and
series, m aturing at such tim es, bearing such rate o f interest, and secured
b y such lien or liens as to the C ourt m ay seem b e s t." O f the $16,859,357
applied fo r the receiver was authorized to raise Im mediately $3,000,000.
the cou rt authorizing him to use as collateral the R e f. bonds in the com p a n y's
treasury; the remainder, it was understood, w ould be required within 12 or
15 m onths. T he purposes to which the $16,859,357 are to bo devoted were
set forth in full in V . 108, p. 377, 478. On M a y 29 1919 Judge M a yer
in the U . 8 . D lst. C ourt auth. the receiver to issue $20,000,000 o f receiver’s
certificates. V . 108. p . 2240. C om pare V . 108, p . 2020, 2122. T h e
Central U nion Trust C o. filed an appeal from this order (V . 108, p . 2329)
b u t on July 3 1919 it was affirm ed Dy the U . 8 . Circuit C ourt o f A ppeals.
T h e C ourt, how ever, m odified the order which m ade the certificates a lien
superior to that o f tho 1 st R ef. M . b y maintaining that m ortgage unim
paired. V . 109, p . 72, 476. On A ug. 12 1919 Judge M a yer auth. the
receiver to sell a t 95 and lnt. $18,000,000 o f B . R . T . roceiver s certificates.
T he decree im pounds 70% o f the earnings o f the B . R . T ., N . Y . M unicipal
R y . C orp . and N . Y . C onsol. R R . to provide for paym ent o f prln. and int.
o f these certificates. A t least $13,000,000 o f the proceeds are to be used to
purchase that am ount o f the certifs. o f indebtedness o f the receiver’s o f the
tw o last named com panies, which certifs. are to be pledged as part security
for the B . R . T . issue o f receiver's certifs. Tho B . R . T . certifs. are to be
know n as Series A and are red. at par and int. on any in t. date on and
after Feb. 1 1920 upon 30 days’ notice. The total auth. am ount o f this
series having the same security is $20,000,000. B eyond this am ount any
further issues o f B . R . T . receiver’s certifs. must either be subordinate in
lien to the $ 20,000,000 issue or must b e secured on different property.
T ho B . R . T . receiver's certifs. are superior in lien to (a) B . R . T . m tge. o f
O ct. 1 1895 as to any property in receiver’s hands; and to ( 6) B . R . T .
C onsol. & R ef. M . o f June 1 1918 (securing $29,000,000 bonds pledged to
secure B . R . T . notes) and are inferior in lien to (a) B . R . T . 1st R ef. M .
o f 1902 ($10,000,000 o f bonds secured b y which are pledged for B . R . T .
notes) as to any property in receiver’s hands; ( 6) Transit D evelopm ent C o .
certifs. o f indebtedness o f 1907 and indenture o f July 24 1918.
T he certificates o f the M unicipal and Consolidated C os. are superior in
lien to (a) the $57,735,000 M unicipal R y . C orp . 1st 5s (pledged under
B . R . T . notes); (6) tho m ortgage given b y the N . Y . C onsol. R R . C o. to
secure its guaranty o f said bonds; (c) $14,344,975 N . Y . C onsol. R R . C ert,
o f Indebtedness N o. 1, but is inferior in lien to tho First M tges. o f Kings
C ou n ty Elevated R R . o f 1899 and B rooklyn U nion E levated R R . o f 1899.
T he proceeds o f the B . R . T . certifs. will be used (1) to enable the receiver
o f N . Y . M unicipal R y . C orp . to carry ou t the obligations under the subway
contracts with the C ity o f New Y ork, to which purpose the proceeds o f n ot
less than $13,000,000 and not m ore than $15,000,000 o f certifs. will be
allocated, and (2) to enable the receiver o f B . R . T . to com plete the pow er
house and other im pts. to be used in connection with the operation o f the
new rapid transit Tines. T he proceeds o f the certifs. allocated to the
purposes o f N Y . M unicipal R y . C orp. will be invested in the jo in t certifs.
o f the receiver o f that co . and o f N . Y . C onsol. R R . C o ., which in turn
will be pledged to secure the certifs. o f the receiver o f B . R . T . F or the
security behind these receiver’s certifs. we refer the reader to V . 109, p .
675, 774 , where a description o f these certifs. in detail will also be found.
Power Bills o f Nassau Elec. RR. First Lien against That Property.— V . 109,
P- 1179.
,
.
Preliminary Report o f Receiver Presented Jan. 15 19.— See V . 108.p .2 6 3 ,373.
Preliminary Report to Court by Stone & Webster.— V . 109, p. 1079.
A s a result o f the appointm ent o f a receiver and the default in the p a y
m ent o f interest due Jan. 1 1919 on the $57,230,000 B . R . T . 3-year 7 %
secured notes due July 1921 and on the $505,000 B . R . T . 6-year 5 % se
cured notes due July 1 1918 and the default in the paym ent o f interest and
sinking fund on the $2,265,000 N . Y . M unicipal R y . C orp . 1st m tge. 5 %
sinking fun d bonds, Series A , due Jan. 1 1966, the follow ing com m ittee
was form ed to p rotect the holders o f the aforesaid issues: Central Union
T rust C o ., K uhn, L oeb & C o . and K idder, P ea b ody & C o .; S ec., Chas. E .
Sigler. 54 W all S t., N . Y . C ity . Depositary: C entral Union Trust C o ., 54
W all S t., N . Y . C ity . V . 108, p . 76.
.
Stockholders’ Committee.— A lbert H . W iggin. Chairm an; Charles A .
B o o d y , Frederick H . E cker, Seward Prosser, Galen L . Stone, Frederick
Strauss, E . B . Sweezy and Chellis A . A ustin, S ec., 115 B roadw ay, N . Y .
C ity . Depositaries: M ercantile T rust & D eposit C o ., N . Y . C ity , and
Peoples Trust C o ., B rooklyn , N . Y . V . 108, p . 76. D eposits have been
called fo r. V . 108, p . 377, 1164.
Tort Creditor's Committee.— Chairman, Samuel Seabury; John V . B ouvier,
Jr., R obert H . Ernest and Chas. Steckler. V. 108, p . 2240.
Default— Committees,
— D efault having occurred in the paym ent
the int. due A pril 1 1919 on the c o ’s. 50-yr. 5 % bonds dated O ct. 1 1895
the follow ing protective com m ittee was form ed:
Committee for
T. 50-yr. 5s.— Chairman, A lvin W . Krech; Julian D .
Fairchild, Ogden M ills; Sec., H enry P . Nash, 37 W all S t., N . Y .. C ity ;
Depositaries: E quitable Trust C o ., N . Y ., and K ings C ou n ty Trust C o .,
B klyn., N . Y . Deposits have been called for. Y . 109, p. 72.
The July 1 1919 int. on tho follow ing issues having been defaulted tho
com m ittee named below was form ed to protect the interests o f the holders:
C oney Island & B klyn. R R . 1st Cons. M . 50-yr. 4s o f 1898_____ $1,9S7,000
C onsol. M tge . 4 % 50-yr. gold bonds, dated D ec. 15 1904____ 2,125,000
B klyn. C ity & N ewtown R R . C o. C onsol. 1st M . 5s o f 1899____ 1,933,000
Committee.— A . E . H orr, D a vid II. Lanm an, J. H . W albridge; S ec.,
G . H . Thirkield. Depositary: B rooklyn Trust C o . D eposits had n ot been
called for up to about the m iddle o f July. V . 109, p . 72.
T he July 1 1919 int. also on the follow ing issues was n ot m et, b ut except
in tho case o f the B . R . T . R ef. 4s, the delay is spoken o f as tem porary
advantage being taken o f the three m onths’ grace allowed in the mtges.
Am ount Held
&c.
B. R.
B rooklyn R apid Transit 1st R ef. M . 4s o f 1902___________ __
$ 3 ^439^)071
Jam aica & Brooklyn R R . 1st M . 5s o f 1889.........................
^32 00 0
B rooklyn Queens C ounty & Suburban R y . 1st M . 5s__________
l -iod’n o o
Nassau Electric R R . C onsol. M . 4s o f 1898_______________
10'347'000
A tlantic A ve. R R . Im provem ent M . 5s o f 1894______ __
’“’ 20'000
T he rental due b y the B rooklyn Heights R R . C o. to the B rooklyn C ity
R R . C o ., due July 1, was paid, thus taking care o f the coupons on the latter
com p a n y’s $4,373,000 1st C onsol. 5s o f 1891. V . 109, p. 72. It was an
nounced in Sept. 1919 that the rental due O ct. 1 1919 would not be paid
because o f lack o f funds. T he B rooklyn Heights R R . is in default in the
aym ent o f the third installment o f the Federal incom e tax o f the B rooklyn
ity R R . C o ., amounting to $46,034. The B rooklyn Heights R R . C o .
under the terms o f the lease pays this tax as part o f the agreed rental*'
T he Brooklyn C ity R R . has paid this installment in order to avoid th e
penalties prescribed b y law.
rnmm iff no fnr TSTnssnif Klpr..
S
Ilrooklyn Trust C o .. B rooklyn , N . Y .. and Girard Trust C o
P h ila '
V . 109. p- 173.
Foreclosure Proceedings.— Proceedings have been instituted to foreclose
the B . It. T . con sol & R e f. M tg e . and also the m ortgage securing the
$60,000,000 bonds o f the N . Y . M unicipal fty . C o rp ., all the $29 000 000
o f tho form er and $57,735,000 o f tho latter being deposited asCollateral fo r
the B . It. T . secured notes. V . 108, p. 877. On July 30 1919 the E fiiiiu
able Trust C o. instituted foreclosure proceedings in the N . Y 'Federal C ourt
beeauso o f the c o ’s. failure to pay the int. duo April l 1919 on its
non m o
50-yr. 6 % bonds dated O ct. 1 1895. .V . 109, p 476
0 n A u^ T l ^ J
Judge M ayer ordered tho consolidation o f tho foreclosure a - '1 “ hi '
c r e d i t o r s ’ s u i t s a g a i n s t t h e B . It. T . a n d it s s u b s id ia r ie s
V 109 • \ V V
On M arch 6 1919 Judgo M ayer at the request o f the receive!-' revoked
a previous order authorizing the p aym ent o f int. on $3,850,000 current
bonded indebtedness, it having been ascertained that said int would
-eu a
gate $154,000 instead o f $40,000. V . 108, p . 972
On F eb. 15 1919 Judge M a yer in tho U. S. D istrict C ourt at N ew Y ork
auth. the receiver to a ccep t the award o f tho B oard o f Appraisers . 1' tho
)\ ar D epartm ent o f $1,428,063 for certain dock property owned
v the
N . \ . C onsol. R R . $6o0,000 o f this sum was applied to the ;i nun ’at o f
prin. and int. (in M arch 1919) o f tho 1st M tge. bonds o f the Sea B la , K v
Vr°*i no
" cre owned b y tho B rooklyn R apid Transit C o. C om pare
V . lUo, p. / oo.
„ ^ u^ ] ' ^ T I O N . — Organized Jan. 17 1896, per plan in "C h ron icle, 1
V. 60. p. 1145. to succeed to the property o f the old Long Island Traction
C om pany, foreclosed, a syndicate headed b j the late ex Governor Flow- r
having then bought con trol. Is not a railroad corporation, but wad or
ganized under the Business C orporation law or New York to hold the stocku
and bonds o f railroad com panies and to aid iu the construction and equip-
14
ELECTRIC RAILWAYS
[Vol . 109.
ment of railroads. On June 7 1917 Gov. Whitman signed the Thompson leased the B rooklyn Queens C ounty & Suburban R R . T h e lease was re
bill, making possible the consolidation of the holding company and Its newed year b y year, rental being fixed charges, taxes and organization ex
various subsidiaries into a single public utility corporation. V . 104, p .2342. penses. On July 1 1901 the B . Q . C . & S. began operating separately again.
ASSETS.— The following is a statement of the stocks and bonds owned On April 1 1899 the Heights C om pany temporarily leased the Nassau Elec
trie R R . Later permanent leases were m ade, but on June 301904. presuma
by the Brooklyn Rapid Transit system Dec. 31 1918.
bly In consequence o f a decision (V . 79, p . 102) com pelling the Issuance o f
Stocks*
transfers, the lease o f the Nassau Electric R R . was canceled.
Entire capital stock Brooklyn Heights RR. Co. (par). — — - *200,000
T h e B rooklyn Heights R R . in April 1899 leased for the period o f 999 years
Entire capital stock Bkln. Q’ns Co. & Suburban RR. Co. (par). 2.000.000 the Prospect Park & C oney Island R R ., the N ew Y ork & C oney Island R R .
Entire com. stock of the Nassau Electric RR. Co., par.---------- 8,600,000 and the Prospect Park A South B rooklyn R R ., but the leases o f these co m
63,943.75 shares out of 65.000 shares of the 4% cumulative pref.
panies were assigned in M arch 1907 to South B rooklyn R y.,w hich had been
stock of Nassau Elec. RR. Co., par----------------------------- - - — 6,394,375 acquired b y purchase in Feb. 1902. V . 74, p . 479. In July 1912, how ever,
47.859.85 shares out of 50.000 shares of the 5% non-cumulative
the South B rooklyn R y . acquired 495 out o f 500 shares o f P . P . A S o.
pref. stock of the New York Consolidated RR. Co., par---- - 4,785.985
134,308.31 shares out of 139,000 shares of the common stock
of the New York Consolidated RR. Co., par------------------------ 13,430,831
Entire stock of Coney Island & Gravesend Ry. Co., par— -----350,000 South Brooklyn Railway owns the double-track road extending from New
647.87 shares of Brooklyn Rapid Transit Co., par----------------64.841 York Bay, near 38th 8t., Brooklyn, to 38th St. near 9th Ave., Brooklyn,
Entire capital stock or South Brooklyn Ry., par---------500.000 and In June 1907 increased Its stock front $150,000 to $500,006.
9.800 shares out of 10.000 of the American Railway Traffic Co.
P u r c h a s e o f C o n e y I s l a n d A B r o o k l y n R R . — In Dec. 1913 the subsidiary
(owned by Transit Development Co.), par— ------------------980,000 Coney
Island & Gravesend Ry. received permission from the P. 8. Comm,
Entire capital stock of the Transit Development Co..par--------600,000
500 shares of the Bridge Operating Co., par---------------------------50.000 to purchase $2,637,000 of the $2,983,900 outstanding stock of the Coney
Island
A
Brooklyn RR. V. 96. p. 1020. 1088: V. 97. p. 1897.
2,000 shares of N . YTMunicipal Corn., par----- - - - - - - - -----200.000
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agree
925 shares out of 1,000 shares of N . Y . A Coney Isl. RR. Co___
100,000
500 shares out of 600 shares Pros. Park & South Bklyn.RR.Co_
50.000 ment with the city for operation of trolley cars over the new Williamsburg
Surface cars began to cross this
26,840 shares out of 29,839 shares Con. Isl. & Bklyn. RR-------- 2,686,500 Bridge. See V. 78. p. 2013 . 2386.
500 shares Bklyn. & North River RR. C o . . . -----------------------50,000 Bridge In Nov. 1904. V. 79, p. 2084. Later the Bridge Operating Co.
was
formed,
with
$100,000
capital
(of
which
one-half Is owned by the New
100 shares DeKalb Ave. A No. Bklyn. RR. Co-------- — — - —
10.000
25 shares Coney Island A Brooklyn Terminal Co--------------------2.500 York Rye. Company) to operate local service on the bridge. See V.79,
100 shares B’way Subway & Home Bor. Car Adv. Co-------------10.000 p. 620. Through elevated train service over the Willlamsburgh Bridge waa
8ept. 16 1908. On Aug. 31 1915 the contracts between the
27 shares Prospect Park and Coney Island RR. Co------------------2,700 Inaugurated
companies operating over the Willlamsburgh Bridge and the city, namely
Bond*.
*40.867.732 the Brooklyn Heights RR.. the Bridge Operating Co., the Coney Island A
•1st M 5% bonds Bklyn. Queens Co. & Sub. RR. (par)----------- J2.000.000
Brooklyn RR. and the New York Railways, as assignee or the New York
1st con M Bklyn. Q'ns Co. & Sub.(owned by Bklyn. H ts C o .)..
50,000 City Railways, were terminated by Bridge Comm. Kracke, but operations
•1st mortgage 5% bonds Brooklyn City RR. (par)------------------- 1.627.000 are being continued at the request of the city under temporary permits
•Refunding gold mtge. 4 % . Brooklyn City RR----------------------925.000 pending negotiations for a new contract. On Nov. 15 1912 the Appellaw
•Gold 6% bonds Brooklyn Rapid Transit— -------------------------30.000 Division of the Supreme Court, First Dept., affirmed the order of the I . S.
Ref mtg 4% bonds Brooklyn Rapid Transit C o . --------------------- 22,171.000 Commission reducing the fare charged ever the TTUlIanssburgh Bridge free*
Ref m tg4% bonds B. R .T . (owned by Nassau El. R R .)........... 1.761.000 3 to 2 cents, or three tiekets for 5 cents. Y. 96, p. 1462. 1471.
1.1*1.000
Consol mtg 4% bonds Nassau Elec RR-------------- ------- -----------D e c i s i o n i n S u i t A g a i n s t B r o o k l y n C i t y R R . — On June 8 1912 the Appellate
Consol mtg'4% bonds Sea Beach By. (see text above).............
650,000
Div. of N. Y . Supreme Court, 2d Dept., handed down a unanimous decision
Jamaica & Brooklyn mtge. bonds------------------------------------------- „
affirming,
to the extent of $1,740,258 principal (with Int. from March 3
N . Y . Municipal Ry. Corporation---------------------------------------- 57.735,000
1910, amounting to $1,610,680: total, $3,350,938), the Judgment awarded
13JW0
Coney Island A Brooklyn first consol, mortgage-----------------—
Coney Island A Brooklyn consol, mortgage---------------------------732,000 by the lower Court (V. 90. p.558; V. 80. p. 1174: V. 7 0 . p. 841) In the suit
Brooklyn City A Newtown mortgage-------------------------------------7.000 (begun In April 1900) of Brooklyn Heights RR. against the Brooklyn City
RH. to recover moneys which the Heights Co. claimed should have been
_________________________________________________________________________ J87.788.000
expended by tho lessor in fulfilment of the terms of the lease of Feb. 14 1893.
•The entire amount of B. Q. O. & Sub. RR. 1st 5s and Bklyn. City RR. but modified the judgment of the lower Court by excluding Interest, leaving
1st 5s: also 8125.000 out of the J925.000 B. C. RR. ref 4s hdd. and 825.0)0 the ameunt of the modified judgment $1,740,258. V. 94, p. 1505, 1625,
out of the 830.000 B . R . T . gold 5s and 8250.000 B. R . T . ref. mUe. 4s held. Both parties to the litigation then appealed to the Court of Appeals.
compose pfuaranty fund for performance of Brooklyn City HR. Co. s lease. Brooklyn City Ry. In July 1910 reduced its dividend to 2% quar., 54 of 1%
being retained quarterly and set aside in a special fund. V. 91, p. 93.
N e w Subwave and E x ten sion s .— An agreement was reached in Mav 1912
as to how the routes of the new dual subway system In lower Manhattan Oct. 23 1913 agreement of settlement was executed by the Brooklyn Heights
should be apportioned between the Interborough and Bklyn. Rapid Transit, RR. and the Brooklyn City RR. providing for the payment of $1,650,000,
and the Court of Appeals at Albany having on June 29 1912 afTlimed the of which $900,000 was paid in cash on Nov. 1 1913 and the balance was
decision of Justice filackmar (V. 94. p. 1057) holding to be constitutional payable In quarterly installments of $50,000 with int. at 5% (see annual
the terms of the proposed contracts with the Interborough and B. R. T ., report for year ending June 30 1914 in V. 99. p. 348). Payments, how
formal contracts were drawn up by the P. S. Comm, and were signed on ever. were anticipated and the last $200,000 was paid during the 6 months
Mar. 19 1913. V. 96. p. 862. See caption "Rapid Transit In New York ending Dec. 31 1915. In July 1917 the c*. resumed the payment of the
City" In V. 94, p. 1384, 1449. 1566: V. 95. p. 48. 111. 237. 1040: V. 68. full 10% dividend.
d . 63. 136. 488. 716, 864. The new subway lines, built and to be built
The Transit D e v e l o p m e n t C o . was organized In April 1903 under the
Jointly by the Brooklyn Rapid Transit and the city, are as follows:
Business Corporation Law, with $25,000 capital, and Is owned exclusively
(a) Subway line traversing the Borough of Manhattan from the Battery
In the Interest of the Brooklyn Rapid Transit Co. It is authorized to
to 69th St., mostly on Broadway, and connecting by tunnel under the East manufacture and sell power and to do general contracting work. On
River with eubway lines in Brooklyn, with rights over the Brooklyn. Man March 1 1907 special arrangement was made by which tho company furnishes
hattan. Williamsburg and Queenshoro bridges. The Board of Estimate In power and • ■
July 1915 decided to make the connection with the Queens lines by tunnel properties
under the river instead of overtheQueensboro Bridge.Com. V .lO l.p . 1554
ment. V. L_. _ _____ _____________ _ __ H I
Contract for tunnel awarded in Sept. 1916. V. 103. p. 1033. It is ex The Transit Development Co. In Dec. 1913 acquired a tract of about
pected to be completed early in 1920. Operation of the new Broadway 90 acres in the Gravesend section of Coney Island. V. 98, p. 72. The
Subway from Union Square, Manhattan, to Coney Island via the Canal requirement to supply a power-generating plant for the operation of rapid
Street subway and Fourth Avenue subway, Brooklyn, was begun on transit lines having been suspended by the city, arrangements have been
Sept. 4 1917. V. 105, p. 998, 1616. Operation of the Broadway Subway made with the Interborough Rapid Transit Co. and with the Transit De
In Manhattan from Times Square to Rector Street was begun Jan. o 1918 velopment Co. for purchasing power In Manhattan and Brooklyn, respec
(V. 106, p. 188) was extended from Times Square to 57th Street and tively. The Transit- Development Co. Is accordingly largely Increasing
7th Avenue on July 9 1919 (V. 109, p. 174) and to Lexington Avenue and its generating capacity.
__
60th Street on Sept. 1 1919 (V. 109, p. 982).
S p e c i a l F r a n c h i s e T a x S e t t l e m e n t s . — For decision allowing for obsolescense
(b) Centre St. loop, connecting the different bridges and extended through
In fixing special franchise tax, see V. 91, p. 1511. For settlement of taxes
Nassau and Broad Sts., Manhattan, to a connection with the lower East for years 1907-1912, Inclusive, see V. 102, p. 1162.
River tunnel and the 4th Ave. subway in Brooklyn, with extensions to
A d v e r t i s i n g . — On the expiration of Its contract with the Inter-City Oar
8 6 th 8t. and Coney Island.
Two tracks In the Centre St. loop were placed Advertising Co. on April 30 1915, the company decided to handle the adver
In operation Aug. 4 1913 (V. 97, p. 297) and the other two were placed In tising, vending and news privileges Itself, and on May 21 1915 the Broad
operation from time to time during the year 1914-15. ^ , e
* way Subway and Homo Boroughs Car Advertising Co. was Incorporated to
Sea Beach line was placed In operation May 1 1915 from Slxty-nrst street carry out the plan. V. 100. p. 1831and Third Avenue to Coney Island. The Fourth Avenue Subway was
Atlantic Ave. Franchise.— In Feb. 1910 Mayor Mltcbel refused to sign the
formally opened June 22 1915 to Sixty-fifth Street. The extension franchise for a line on Atlantic Ave., Insisting upon the payment of the
to 86th St. was placed In operation Jan. 15 1916. On June 24 1916 the franchise tax from which the co. wished to be absolved. Differences also
New Utrecht Ave elevated branch of the Fourth Ave. subway was placed arose over the Initial payment and the duration of the franchise
In operation as far as 62d St.: on July 29 1916 line was extended to 25tU (see V. 101. p. 772).
Ave. and to Coney Island connection on July 21 1917. Since early in
Favorable Decision.— On Oct. 2 1915 Supreme Court Justice Erlanger
1918 trains over both the West End and the Sea Beach lines are run from dismissed the city’s suit against the Brooklyn Queens County A Suburban
Times Square at 42d St. (on Sept. 1 1919 this service was extended to RR., seeking to collect $829,578 for the operation of the co.'s lines in Brook
lyn and over the Brooklyn and Queenshoro bridges, being 5% ($361,753)
Lexington Ave. and 60th St.) all the way to Coney Island.
(c) Subway line extending from 6th Ave. and 14th St.. Manhattan,
of the company's earnings during 1901 to 1907, plus a penalty of $467,258.
across Manhattan, under the East River, to North 7th St., Brooklyn, and on the ground that the city Is not entitled to more than its franchise reve
thence part subway and part elevated through the Eastern District by Met nues and bridge tolls.— Y . 161, p. 1271. This decision was affirmed by
ropolitan, Bushwick, Johnson and Wyckoff Aves. tojoin toe O v p r ^ Hills the Appellate Division, and on April 1 1*19 was sntained by the N. Y .
line. Contract for tunnel under East River was signed Feb. 29 1916. State Court of Appeals. Y. 108. p. 1816.
Wage Increases.— Y. 103, p. 843: Y. 105. p. 8271: Y. 167. p. 461.
,
Construction Is expected to be completed In 1920. V. 108. p. 74.
id) Subway lino In Brooklyn connecting Manhattan Bridge with the
Strike.— On Aug. 6 1919 tho carmen struck, demanding recognition ®*
their union, an Increase in wages to 75 cents per hour, and an eight-hour
Brighton Beach RR. Expected to be completed in Jan. 1920.
In addition to the above, the co. agreed to build several extensions day. The system was badly crippled for four days, tho men returning to
as well as third track and make additions and improvements to Its then work on Aug. 10 1919. after tho receiver had agreed to treat with the union,
providing it could show that 50% of the company's men were enrolled
members (V. 109. p. 577). Tho question of wages was settled by arbitration
tho men being awarded a flat Increase or 26% over tho then existing rato
schedules, retroactive to Aug. 10 1919 (Y. 109. p. 887, 981). Compare
stru ction to the city o f lines in the D ual R ap id Transit System under con
-tracts N os. 3 and 4 (including b oth the Interboro and B . R . T . sec
tio n s). now under construction, was originally estim ated at $lo4,2y 4 ,0 7J
(n ot Inch allowances for the expenses o f the P .S . C om m .) . and the total
cost o f construction and equipm ent to the B . R . T . at *65,000.000. but
because o f additions to the work and increased costs d.uo largely to war
conditions these amounts are being exceeded. The total cost or the whole
undertaking was estim ated at $330,000,000 but Is now expected to run up
t o abou t $400,000,000. On the B . R . T . system abou t 111 miles o f new
tra ck had been added up to Jan. 1919 to the 119 jniles to operation in
1913.
See under “ R apid Transit in N . Y . ’ in V . 1 0 6 , p . 296, 134o, 1795.
A s o f June 30 1919, the N . Y . M u n ic. R y . C orp. had expended in contribu
tion to city-ow ned lines $11,162,363 on account o f equip, o f city-ow jm d linos,
■812,791,309, and for add'ns, extens. & im pts. o f existing lines, $38,841,3JJ,
a total o f $62,795,071. T h e third track on the Fulton St. lino between
M anhattan Jet. and N ostrand A ve. was placed in operation D e c. 27 1915.
O n D ec. 23 1916 the entire third-tracking o f the B roadw ay E levated was
placed in operation between M a rcy A v e. and M anhattan Jet. Operation
o f the Liberty A v e. elevated extension was begun Sept. 25 1915. On M a y
27 1917 the elevated extension to Jam aica was placed in operation between
C ypress Hills and R ichm ond Hill. Operation o f the M etropolitan A ve.
trolley line extending from D r y H arbor R oad . Queens, to Jamaica A v e .,
was begun Sept. 25 1917. On July 2 1918 operation o f the Jamaica A ve.
elevated line from Greenwood A ve. to the terminus in Jam aica was begun.
T h e new C ulver rapid transit line was p u t into operation as far as Kings
H ighw ay on M arch 16 1919, and to A ve. X on M a y 10 1919. T h e connec
tion betw een this line and the C on ey Island Terminal is expected to be com
pleted b y D ec. 31 1919. V . 108. p . 2122. In D ec. 1918 the Comm ission
directed the preparation o f a final order fixing the status o f this lino as a
branch o f the Fourth A ve. Subway. See “ R apid Transit in N ew Y o r k ,”
V . 107, p . 2477.
,
See N . Y . M unicipal R y . C orp .— organized to carry out com pany s
agreem ent w ith city— on a subsequent page.
T h e Brooklyn C ity RR. C o. is held under a 999-year lease dated F eb. 14
11*93. guaranteeing all fixed chargee, organization expenses, taxes and 10%
d lv . on $12,000,000 o f stock (par $10). T h e lease Is nom inally to the B klyn.
H eights R R . C o ., but the B rooklyn R apid Transit C o . owns the entire cap
ita l stock o f the B rooklyn Heights C o . In 1898 the Heights C om pany
M o r tg a g e s o f C o n s titu e n t C o m p a n ie s to S e c u r e A d v a n c e s b y B r o o k ly n R a p id
T r a n s i t . — In May 1907 the New York State RR. Comm, consented to the
Sea Beach Ry., the Canarsie RR. and the South Brooklyn Ry. making
mortgages of $2,000,000, $2,000,000 and $4.000.000. respectively, to secure
certificates of Indebtedness issued , by those companies to the Brooklyn
Rapid Transit for moneys advanced for additions, betterments, Ac. In
June 1907 Brooklyn Union Elevated authorized a mtge. for $20,000,000
and the Nassau Electric for $5,000,000 for same purpose; but in July 1908
Public Service Commission denied application for the approval of these lat
ter two mortgages. 8ee particulars V . 87. p. 224. No bonds will be Issued
under any of these mtges., which are created simply to secure the certifi
cates of Indebtedness as Issued from time to time. The certificates cannot
be Issued at less than par and are deposited under the Brooklyn Rapid
Transit first rebinding mtge. V. 84. p. 1181. 1246. 1650F a r e s — T r a n s f e r C h a r g e s . A c . — On July 18 1919 P. 8. Commissioner
Lewis Nixon auth. the cempany to charge 2 cents for transfers on practi
cally all its surface car linos, effective Aug. 1 1919. The company had
applied for authority to cliargo 3 cents for transfers (Y. 109, p. 370, 477).
Compare "Electric Railway" Section of March 29 1919, pago 17, under
caption “ Fares.” See also Y. 109, p. 1179.
Proposed Consolidation. A c — Statement by P. S. Commissioner Nixon on
solution of the rapid transit problem In New York City, Is summarized
under caption “ Rapid Transit m N. Y . City in Y. 109, p. 578.
Wreck and Damage.— A wreck occurred on Nov. 1 1918 on the Brighton
Beach line, resulting in tho loss of nearly 100 lives and injury to more tha«
Increase.— On Jan. 3 1913 Increased Its auth. stock lVom $45,000,000
to $90,000,000. The new stock was issued from time to time up to July 1
1914. exclusively for the conversion of 4% bonds of 1902.
96, p. 01.
In Feb. 1917 applied to P. 8. Comm, for auth. to issue $299,543 addi
tional Brooklyn Queens County A Suburban RR. bonds. Op to March 27
1919 authority had not boon granted.
, .__. .... _ _ __ .
Suit Against City.— In Dec. 1918 the N. Y . Municipal Ry. Corp. and the
N. Y . Consolidated Ry. Co. brought suitagainst the city of Now York and
the P. S. Comm, to compel completion of the city transit system in accord
ance with the contract of March 19 1913. The plaintiffs alleged that, not-
N ov.. 1919.]
ELECTRIC RAILWAYS
15
withstanding tho elapse of 6 years since the execution of the dual contracts constituent companies and the $7,000,000 Brooklyn Rapid Transit 6s,
there remained unfinished and still to be constructed or completed 47 miles and the rest for improvements, additions and acquisitions, as needed
#f track out of a total of 115, and 19 miles of road out of a total of 41 of tho from time to time. The mortgage provides that a fund of $5,000,000
Hnes which the city assumed to construct by Jan. 1 1917 and which the in bonds or their proceeds be at all times at the disposal of the company
•o. agreed to equip and operate. For further details see V. 107, p. 2288.
for the purposes mentioned. See V. 74, p. 377. As this fund Is re
New Mortgage.— At a special meeting held May 23 1918, stockholder8 duced for any of the purposes authorized, more bonds may be authenticated
ratified tho creation of a new mortgage for $150,000,000 to take the place of by trustee and delivered to the company on its order. These bonds were
the present 1st & ref. mtge. of 1902, to which it is generally similar in convertible into stock, par for par, before July 1 1914, and $29,619,000 were
amount, character and scope. It was proposed to use the new bonds as so converted. They are subject to call on any interest day until the year
follows: (a) $7,000,000 for retirement of bonds issued under B. R. T. mort 2000 at 110 and interest; after that at par and interest. See listing applica
gage of Oct. 1 1895: (6) $53,033,000 for taking up, exchanging or retiring tions in V . 81. p. 1856. 1857, for list of securities pledged for the bonds; also
bonds of constituent cos.; (c) $27,621,000 to replace B. R. T. refunding 4s
8®*
W) $29,619,000 as collateral for loans; (e) $1,350,000 to reimburse the co. p*l92^ *?’Pl90 °n~86 V ‘ 82’ P’ 517' V ‘ 83' P' 1E22: V ’ 85, P* 1623:
for the cost of $625,000 Coney Island & Bklyn. RR. Co. cons. Mtge. bonds,
— Of the $7,000,000 50-year gold 5s of the Brooklyn Rapid Transit,
$•50,000 Sea Beach Ry. Go. Cans. Mtge. boads (these, however, were paid $3,800,000 went to stockholders for assessment. For description of prop
•ff in March 1919 with part ef the proceeds from the sale of some dock arty co^wed by the mortgage, see V. 62, p. 1138. See also V. 67. p. 904.
property), and $200,000 Bklya. City RR. Oe. 1st A Ref. Mtge. bonds;
Brooklyn City RR. mortgage of 1891 is for $6,000,000 and is a first lien
ff) $31,377,000 for aeqaisitions, additions and ianprevements. Interest rate on the old Brooklyn City road and a consolidated lien on the lines acquired
and redemption privilege Tot new bonds to bo fixed at time of issuance by consolidation in 1890. Of the $6,000,000 issued. $4,373,000 are In the
Such ef the bonds as may be determined by the cBrectors may be made hands of the public and the balance is held in the guaranty fund. The
bonds are subject to call.
convertible into the company’s stock. For farther details see Y. 106. d
ISOO, $227; V. 107, p. 703.
’ v
Stockholders of the Brooklyn City RR. July 10 1908 authorized a new
mortgage for $6,925,000 to provide for refunding. V. 82. p. 1437. These
Note Extension.— Because of adverse conditions existing at the time, the bands
are subject to call at 110 and interest.
ce. found itself unable to take up the $57,735,000 secured notes which
The total authorized issue of first consolidated mortgage gold 5s of the
matured July 1 1918. The eo. arranged for an advance from the War
Breeklya
Queens County A Suburban RR. is $4,500,000, of which $1,610.Finance Corp. of $17,320,500, er 30% of the face value of the maturing
reserved for extensions, on which they will be a first lien. Of the
notes, for a period of 3 years at 7% on the condition that holders of the •••
notes exchange at least 70% of their holdings for new 3-yoar 7% notes. The 52.884,000 outstanding, $2,255,000 in 1898 were endorsed with the guar
th® Brooklyn Heights RR. Co. as to prin. and Interest, and in Jan.
eo. accordingly offered the noteholders for each $1,000 note (a) $300 cash anty
provision was made for guaranteeing the remainder upon the paymen t
and $700 face amount of new 3-year 7% Secured Gold notes, or (6) $1,000
Both B. Q. C. A S. loans are subject to call frene 1916.
face amount of new notes. Holders of over 94% of the notes having ac •* $1® P *
The $550,000 Sea Beach Ry. 4% bonds due Sept. 1 1916 were taken up
cepted this offer, the plan was doclared operative July 16 1918. Up to
March 1 1919 holders cf $55,146,000 of notes had chosen option (a) and at maturity by the B. R. T. (retired In March 1919). V. 103. p. 843.
The B. B. A W . E. 1st 5s,, due April 1 1917, were also taken up by the
hclders of $2,084.000eptien {*). T. 106. p. 2648.2755; V. 107. p. 290.694. B.
R. T. at maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity. . T h e Nassau EL 1st cons. M . bonds are guar, (by end. on each bond)
0
/
Brooklyn Heights RR. Besides covering the mileage directly owned
Stock. $90,000,000 ( $ 1 0 0 ) - .- - -----Q-J
$74,455,159
See text
Receiver’s certifs Ser A $2*.-\ 1919
6 g F-A 1 18,000,000 Aug 1 1921 r t®7 J?r£ a *ien By a supplemental agreement upon the stock of the Coney
island A Gravesend Ry. and will become a direct lien on this line should ft
800.000 ($1,000) gold........./Callable at par aad int. after Feb. 1 1920.
Brook Rap Tr 1st ref mtge, 1902
...............4 g J -J‘
23,439.000 July 1 20«3 become merged in the Nassau Electric. Of the total of $15,000,000 bond ■
$150,000,000, gold- c*Artf Central Trust Co.. N. Y .. trustee. Coupon authorized the unissued remainder ($3,242,000) is for prior liens. See
bonds ($1,000); registered ($1,000. $5,000) listing application in V. 72. p. 342.
atge 1918
B R T con sol and ref
6%
See text
1928 . *a Dec. 1918 it was announced that the Brooklyn Union Elev. 4-5%
Donds and the Kings County Elev. 4% bonds would be guaranteed upon
$150,000,000....................... Cchineb.a Trust Oc., Trustee.
resentatlon on certain dates during the year of 1919 by the Brooklyn
B r o o k K a p T r a n g o ld m tg e .
1895
5 g A-O
/6.970.000 Oct 1 1945
[eights RR. Co. V. 107, p. 2475.
$7,000,000
r.........-_-C*ntf .d Int. at Central Tr. Co.. N . Y ., trustee
_________________
B K T securednotes $57,735,- 1918 7 g J-J
57,230.000 July 1 1921
Coney Island A Brooklyn Bonds.— Of the $10,000,000 bonds auth. by
000 ($100,8500A $l,000) g t f (Central Union Trast Co., N. Y ., Trustee. “ tg#.,
$4,000,000 are reserved for prior liens and $3,768,000 are reserved
Brooklyn City RR—
ror ext. and lmp9. No sinking fund, and bonds cannot be called.
Refund mtge, $6,925,000/ 1906
4 g F-A
X925.000 May 1 19M
MILEAGE.— The system Includes:
($1,000)___________ ntf(Long Island L & Tr Co, Bklyn, trustee.
1st consol M , $6,000.OOOntf 1891 5 J-J
1/4.373.000 July 1 1941
First
Second Sidings,
Total
Name—
Brooklyn Heights RR first? 1891 5 A-O
250,000 Apr 1 1941
Track.
Track.
A c.
Miles.
rooklyn Heights R R _____________ .. 3.156
mortgage. $250,000 ------tfjlnt.atPeople’s Tr. Co.. Brooklyn, trustee
1.851
0.198
5.205
rooklyn City RR ________________
Brooklyn Queens Co A Sub? 1894
5 g J-J
e l,500.000 July 1 1941
101.941
23.076 231.918
first M. $3,600,000 .n tf (Guar. Trust Co.. New York, trustee.
Bklyn. Queens Co. A Suburban RR. .. 29.712
28.987
3.223
61.922
First consol M , guar p A 11 1894
5 g M-N m2,834,000 July 1 1941 Nassau Electric RR______________ .. 69.323
67.564
7-507 144.394
(end). $4.500.000---ntflCentral Trust Co.. New York, trustee.
Coney Island A Gravesend Ry.___ - 3.950
3.188
.348
7.480
Jamaica & Brook RR first/ 1889 5 g J-J
/232.000 Jan 1 1930 South Brooklyn Railway __
.459
.459
4.468
5 386
mortgage, $240.000__ tfl Central Trust C o ., New York, trustee
Prospect Park A Coney Island RR” - 9.281
8.399
8.327
26.007
Coney
Island
A
Bklyn.
RR________
Brooklyn Union Kiev 1st M ,/ 1899 5 g F-A
15,967.000 Feb 1 1950
- 22.844
22.156
7.039
52.039
guar. $16,000.000...........tflln t. at Central Tr. Co.. N. Y .. trustee
New York Consolidated RR. an
New York Municipal Ry. Corp__ . 50.004
Kings Co Kiev first mtge,/ 1899 4 g F-A
7,000.000 Aug l 1949
49.974
41.703 141.681
$7.000,000(51,000),g(gu)ntflint, at Central Trust C o „ N . Y . trustee
Trackage on N . Y. A Brooklyn Brids
Nassau El RR Co cons M| 1898
4 g J-J
pl0,34^,000 Jan 1 1951
. 1,762
1.762
.231
3.765
bonds ($1.000).$15,000.- Guaranty Trust Co., N . Y , trustee Bonds
1.707
3.609
0 00 .......................c*Artf guar. by end. by Bklyn. Height RR
First mtge bonds (closed) tfl 1894 5 A-O
660.000 Aor 11944
. 1.741
1.741
.218
3.700
Hamilton Trust Co.. N. Y „ trustee
r. 22.434
22.386
20.002
67.822
Atlantic Ave. geo mortgage/ 1891
5 g A-O
c2,241.000 Aor 1 ioqi
gold (closed).............ntf/Brooklyn Trust Co., trustee. °
1831
-323.369 312.115 119.340 754-824
Atlantic Ave improvement,/ 1894 5 g J-J
220 000 Jan 110^4
— 5,032 cars. Closed cars, 1,779; open cars,
t
1J71:
gold (closed)...............tfiCentral Trust Co.. New York trustee
convertible, 667; semi-convertible, 893; miscellaneous, 522.
v,u Dec.
B. B. A W. E. general/ 1893
5 g A-O
trustee
'
On
„ 121,000 Oct
1 1933 14 1916 the P. S. Commission ordered the company to provide
bv not
gold, $121,000-----------tf (Franklin Trust Co N. Y ., trustee
later than Feb. 1 1918, 250 new surface cars of the centrtventrance Step
N Y Mun
Ry Corp '1st Mtge 1912
"
5 g J-J
n2.265,000 Jan *1 1966 less type, with seating capacity for 58. V. 103, p. 2340. The corn!
$100,000,000 ($1,000 and T r — , $500) gold............... c»Artf ^Trustee1 ° entral Trust Co-. New York pany protested and a re-hearing before the P. S. Comm. In Feb. 1918
resulted in a compromise agreement for the immediate purchase of 100
Coney Isl A Bklyn 1st consol . J898
4 8: J-J
si.987.000 July 1 1948
M $2,000,000 gold___ ntf M e r c a n t i l e Trust Co., New York, Trustee. large subway and elevated cars and 50 surface trailer cars and the con
version of 100 centre-entrance cars for multiple-unit operation, at a total
Consol mortgage $10,000, a! 904
*1.500.000 Jan 1 1955 2B?
Aha° , i 3•°^0; 00? ’ V. 106. p. *14. Proceedings to compel
000 gold ($1,000)___ c*tf M e r c a n t i l e Trust Co..
New York. Trustee. full compliance
with original order were adjourned until Oct. 1918 the
Bklyn City A Newtown I889
6 J-J
hi,993,608 July 1 1939
1st M $2.000.000__ ntf Mercantile Trust Co.. New York. Trustee
Fh°^LS
f
^
.
res^rvlrg
Inor
° ct1918 the Commission
the
co
s
application
for thelts
modification
postponement
of the orderdenied
On
Real estate mortgages__________
5%
409.562
Dec. 5 1918 Justice Russell Benedict in the Kings County, N. Y Supreme
Court issued upon application by tho N. Y . P . S . Commf. writs o ^ ^ !
R e n ta l p a y m e n ts in a d d itio n to p a y m e n t o f f i x e d c h a r g e s —
Brooklyn City R R . stock, $12,600 000, 10% Q.-J. 15. 999 y r s .J l.200.000 damus requiring the co. to purchase the 250 cars as specified in the ComProspect Park A Coney Island RR., yearly rental_____________
4 S.OO0 ?^SiSn0io Sa0rder’
*07, p ’ 2187- Compare V. 107, p. 1919. On Dec
Supreme Court Justice Russell Benedict granted the co. an exten
c Atlantic Avenue general mortgage 5s of 1931 were subject to call In 19 1918
to1Nov. 1 1919, by which time the co. must have the 250 cars in actual
1909#.out many of them (how many is not known) have been stamped, sion
operation. V. 107, p. 2375. In June 1919 the company placed an order
releasing them from the liability to call.
v f iog! p 476 .CarS
G’ BrU1 C0’ V - 108■ P- 2527
See L o
d The Central Trust Co. of New York was trustee of this mortgage until
Oct. 1903. when Colonial Trust Co. ( s i n c e consolidated with Trust Co, of
REPORT.— Annual report for 1917-18 will be found In V.107.P 691 703
A m e r i c a — latter being m e r g e d into Equitable Trust Co.) was substituted.
0 Not Including $2,880,000 held by Brooklyn Rapid Transit Co.
/ Not including $8,880 owned by B. R. T. Co.
7i Not including $7,000 held In treasury.
* Not Including $7.32.000 owned by B. R. T . Co.
1 Not Including $30,000 owned by B. R. T. Co.
Pat = L Carried............. - - - - - - - 771.0448.274 T C O .S l& O T 728.«5®567
m Not Including $50,000 owned by B. R. T. Co.
n Not including $57,735,000 owned by Brooklyn Rapid Transit Co
J29«
!
* 2 8 ’9? 2 ;” £
p Not Including $1,161.000 owned by B. R. T . Co.
511.908
s Not Including $13,000 held In treasury.
Expenses— *................. $33,273,330 $30,606,497 $29,504,019 $27,948,772
x Entire amount owned by Brooklyn Rapid Transit Co.
y Not including $1,627,000 owned by B. R .T .O o .
Maintenance of w a y ... $2,419,105 $2,480,439 $2,505,288 $2,485,421
Malnt1. of equipment...
2,921,824 2.632,885
t Not including $24,182,006 ewned by B. R. 1 . Oo. and constituent cos
2,496.349
2,508.370
of power plant
3,815.513 2,667,809
2.041,617
Stock.— In the reorganization of the Long Island Traction, the old $30 - Operation
1,725,308
of cars........... 10,946,396
8,044,547
7.583,622
000.000 stock paid an assessment of $10 per $100 share, the old stock bein’* Operation
6.942,972
Damages
A
legal
expense
1,563,971
1
,
194,715
1.040,685
peduced to $20,000,000. and $7,000,006 of 5% bonds being authorised
925,121
General expenses...........
924,928
811,023
768,991
against $3,000,000 of Long Island Traction. $64,840 stock in addition Freight
797,652
A mail expenses
311,798
280,100
to amount reported outstanding is held in treasury.
304,666
302,103
Amer. Ry, Traf. Co.exp.
221
288
100
6,961
Dividends.—
ids.— First div., 1% . paid April 1 1909; July, 1%; Oct.. 1%
In Taxes..-........................... 2,446,900
2.443,652
2,351.104
1.837.683
1910.
____ 4 Hj %
% ; In 1911 and 1912, 5% ; In 1913. Jan., 1 « % : Apr. 1
in
T o ta l.............
.--$25,350,656 $20,555,457 $19,092,521 $17 53i'M)i
increased rate to 1
IH %;
... same rate quar
.
__________________
July Increased1
te and Inch Jan. 1918. April Net earnings__________
, ___
1918 d iv. deferred (see V . 106, p . 1125, 1576).
N o cash dividends m av be Other Income_________
::: 7-509,724
m ii
1
paid during life o f 3-year notes.
9
«mTot*! Income. . - ------- $8,432,398 $10,358,769 $16,839 3 f l
I n t e r e s t o n B o n d s , Where P a y a b le . — Interest on the Brooklyn Ranld
6.246:715
5:644.074
§§I
Transit mortgage of 1902 Tor $150,000,000 and the two Elevated issues is Fixed charges ( n e t ) . . . . _8. O il,474
payable at the Central Trust Co.; on the Brooklyn City R R . refunding bonds
Surplus.....................
$420,924 '$4,112,054 ~$5.195 239 " x T f l T T ^
•t company’s office; on the Nassau Electric bonds. Including Atlantic Ave
,1? d e n d s .....................- .................... 3)2,233,659 (6)4.467.318 (6)1:467'111
nue and Weed End Issues, at the Central Tr. Co., N. Y .; on the Brooklyn
Balanco.......................
$420,924 $1,878,395 ~ $727,921 $T 1 4 4 sra
Queens County A Suburban mortgages and the Jamaica A Brooklyn first
OFFICERS.— Gen. Mgr. under Receiver Fred'U P
mortgage at the Brooklyn Trust Co., Bklyn. On the B. R. T. secured
notes of 1912 and on N. Y. Mun. Ry. Corp. 1st M. bonds at Central Trust
Oo. Int. on all Coney Isl. A Bklyn. bonds Is payable at Central Trust Oo
N. Y . On Bklyn. Heights RR. 1st M . at Peoples’ Trust Co., Bklyn.
g
S ec u r e d N o t e s . — T h e 1918 notes are secured b y pledge o f an equal am ount
e f First M ortgage 5s o f N ew Y ork M unicipal R y . C orp . and b v 529 800.000 C onsolidated A R efunding M tge. 10-year 6 % Bonds. T he in
denture also provides for the exchange o f the $10,000,000 B . R . T . R e f 4%
bonds pledged as security for the old issue for new 10-year 6 % C onsol A
R ef. bonds as soon as the R ef. 4s can bo released from the old Indenture
During the life o f the notes the co . m ay p ay no dividends upon its capital
stock In cash or in securities or scrip unless such securities or scrip shall rank
subsequent to rights o f noteholders. T he nates are red. all or in part on
any Int. date on 30 days' notice at a prem ium e f J* % for each 6 m os which
the notes m ay still have te run at the date o f redem ption. V. 106 n 2755
Listed on N ew Y ork Stock Bxehango. V . 108, p. 1510.
Mortgage f o r $150.000,000.— Stockholders authorized March 20 1902
first refunding 4 % gold convertible bonds for $160,000,000. $59,179 000
were reserved to retire bonds issued, or to be issued, under mortgagee of
K A P ,D T R A N S .T CO.
“ bove-
hold!
o f th8 N - Y - Municipal R y. Corn, (which
tion^ofVubw
the,its
£ 1i7
°£ New
York
‘a 1013 with
for the
uon or suDwaysara**?^^Jltb
. A c.) and guar,
bonds,
p. A
1.. jointly
B. operaR. T
N . Y . Municipal R y. Corp. uadcr Its conthw £ tf_haTa been leAsod and assigned to the New York Consoli
dated R R . For terms, see statement of N . Y, Municipal R y. Corp. below
[V ol . 109.
ELECTRIC RAILWAYS
16
Tho New York Consolidated in 1915 leased for 999 years the Nassau
Electric HR.'s terminal at Coney Island, the consideration being $236,000
upon delivery of b ase and $160 per annum from Aug. 1915 which the New
York Municipal Ry. Corp. was authorized to charge against the cost o*
construction under the dual system contracts. See V. 101.P-447. Con
tract for construction of new terminal was let In March 1916. T wo tracks
are in operation from Sheepshead Bay to Culver Terminal. It is believed
that the entire terminal will bo ready for use before the close of 1919, with
tho exception of the connection with the city-built Culver line. The latter
was put in operation as far as Kings Highway on March 16 1919, and to
Ave. X on M ay 10 1919. The connection with the Coney Island Terminal
is expected to be completed by Dec. 31 1919. V. 108, p. 2122. This line
will finally operate as a branch o f the Fourth Ave. Subway. V. 107, p. 2477.
Favorable Decision.— In April 1918 the Appellate Division of the Supreme
Court upheld tho decision of Supreme Court Justice Erlanger in April 1916,
holding that under the contract with the city, dated March 19 1913, the
company was relieved from the obligation of paying tolls for the operation
of cars over the Williamsburgh Bridge. V. 106, P- 15*6.
Division of Earnings witn C'i tp — As the New Vork Consolidated holds
under assignment and lease, all the rights acquired by the New i ork Munici
pal R y. Curp. In the latter's contracts with the city, all the earnings ac
crue to it. The division of earnings is on the following basis;
1. T o the company. $3,500,000, as representing the net earnings of the
previously existing railroads which went to form part of the new rapid
transit system. Out of this reservation the company pays interest charges
on capital investments prior to Mar. 19 1913 in the then existing railroads.
2. To the company, 6 % on Its new Investment in construction and equip
ment prior to the beginning o f permanent operation and thereafter interest
***3 . ^To the city , interest and
1%
sinking fund on its investment in cost of
C°4 . Any surplus remaining, after making provision for a moderate contin
gent reserve fund, is to be divided equally between the company and the
city. The company’s preferential payments are to be cumulative.
Results of Temporary Operations of Lines Under Contract with the City.
Year end.
Year end. Aug. 4 13 to
June 30 T9. June 30 T 8 . June 30 T9.
Total revenues............................ ..........tt^ 8 1 7 ’ 768
Total deductions--------------------------- .111,378,416 $8,296,955 $42,817,768
Company’s preferentials____________
5,886,201
5,166,^.01 26,613,63w
_________________ $17,264,617 $13,463,157 $69,431,400
Totai
Deficit in company’s preferentials__ $1,554,521
$405,751 $2,997,549
Interest paid by city on its cost of con
struction of property placed in op1n 101 op
eration plus sinking fund o f 1 % —
5,196,051
1,428,610 10,181,905
Total deficit
...............$6,750,572
$1,834,361 $13,179,454
Deficits in city’s charges during temporary operations to be a d d edto
the cost of construction of city-owned lines. Compare V. 106, p. 1348,1795,
V. 107, p. 703.
,
w
„
STOCK AND BONDS—
Date.
Inter*est.jOutstanding. Maturity
since5% ($1,000)--*---- t f l
™*
7 noo 000 A uk 1 1949
Kings County El 1st M , g old ,/ 1899
4 g: F-A.
7.000,000 YA Trustee
•7 non non itt onoi c*ntf Int. at Central Trust 0 0 ., w . 1 ., lrustee.
Bonds — Bonds of the Brooklyn Union and Kings County Elevated KR.
companies are guar. p. & i. by Bklyn. Heights R R .. guaranty to be stamped
? p T b o n d « upon presentation. In Feb. 1902 began stamplng bonds with
guaranty. Certain days each monthi are ■
Jo r
See
V. 106, p. 188. Both Issues are listed on N . Y. Stock itxcnange.
d t v i d f n n s __The first div.. o f 2% •on the old Bklyn. Union Elevated
R R ore? 8 t o ^ was paid June29 1901 ; in 1902and 1903.3% ;in 1 9 0 4 .3 4 %
jlM’blSi,.‘SJJ'o2,-
1.S « h
T n m ' 5 toBandinclJjS ly 1918
atPthe \ & e o ? W % per annum
lri Sept° and Dec. 1918 1H % Quar. was
paid on both classes o f stock. None since.
RnA n __Embraces 213 258 miles of rapid transit track, or which 67.822
enjoyed mutually with the Interborough Kapld rransit c ° ’
OFFICERS.— Pree.. John H . Hallock; V - P . & Treas. C ^ D . Men
Sec.. J. H. Bennington; Com p.. Howard Abel.— V . 103, P. 834.
(a) New York M unicipal R ailway C orporation .
Receiver Appointed.— See B . R . T . above.
y
in N
S 3 .p .. 27 1912 to
me
»io«U C T — in Celov.Krt
JSiTMS.SuSS'iK
ment between
fo^private* rather than public ownerRf,1? 8
The*lines to be constructed by the city are leased to
ship. V. 9o, p. »1»from Jan i ^giy and are operated
in^th^Kmnanv1,in connection with the previously existing railroads of the
by the company |n* c
enlarged and extended) as one system.
New York Cojwolidated R R . Oo. (“|t?ucted lines may be recaptured by the
J S
sinking ^u“ ^ g 7 ‘ 1LatIl ^ tc“ mkmiMion i^ provedT con tract with the Brook-
s S S
mfg&'ffA
S
5
a
S
s
|
s
#
s
to
all the construction work and acquiring all the equipment, or or requiring
the Consolidated Co. to do so on reasonable^ notice.
In August 1913 th- P. 8 . Commission granted authority to Issue 54UU.UUJ
additional stock, o f whlch$ 1 0 0 .0 0 0 was lMued in April 1 ® ^ ^ ^It.
1919 only $200,090 stock out. all owned by New York Consoimatui
In March 1918 the co. applied to P. S. (Jomm. fer auth. to
additional stock to relmbnrse the B. It. T . for
“ financing
counsel paid out hi connection with the dual subway system financing.
Still pending.
„ „ „
,
Default on Bond Int.— See B. R. T . above.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity
Stock, $2,000,000 ($100).................... All owned by N . Y O w ^ l . B B -— First mortgage. $100,000,000? 1912
5 g J-J
.000 Jan 11966
($1 000&$500), g-«*4tr.tf I Int. at Central Trus. C o.. N . Y .. Trustee.
Bonds.—^Guar., p. & i., by B. R. T . and N . Y . Consol. RR.$
were issued and pledged as security for B .R .T . secured notes. $2.^6-).000
of said notes were converted into bonds of this Issue. Right of conversion
terminated Jan. 1 1916. Semi-annual sinking fund began July 1 1918
(minimum. .3175%: maximum. >$%). Bonds are subject to call as a
whole, but not in part, except for sinking fund, at 107 VS on 90 days notice.
See V 101 P. 20(2. Listed on N . Y. Stock Exchange in Juuo 1916. V. 96.
p?360, 863’. 947. 1773; V. 101, p. 2072; V. 102. p. 2255; V. 108. P- 2123.
(2) Nassau Electric R ailroad.— A trolley road.
Receivership.— See B. R . T . above.
power Bills Made 1st Lien Against Properly.— See Y. 109, p. 1179.
ORGAN IZATION .— Chartered Mar. 13 1893 under the laws of New
York
ODened in July 1895 and in April 1896 leased the Atlantic Avenue
R R
&c P Asstated above, the Rapid Transit Co. owns or controls all
o f tiie $ 8 500 000 common stock of the Nassau Electric and $6,394,375
ut o the $6,500,000 preferred stock.
Was formerly leased for 999 years from April 1 1900 to Brooklyn Heights
Railroad, but, colnddently with a decision compelling the Issuance or
transfers from one leased line to another (V 79. p. 102). the lease was ter
minated on June 30 1904. For order requiring universal transfers, effective
June 1 1914. see ‘ ‘ Brooklyn Rapid Transit C o." further above.
For lease of Coney Island terminal to the N. Y. Consol. R B ., see remark*
under that company above and under Brooklyn R . T . Co. In V. 101. p.447.
Default.— See B. R. T. above.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
-----------$8,509,000
------------Common stock, $8,500,000-----------Preferred 4% cum, $6,509,000 ____
M-N
6,500,000
»ee text
Bonds.— For details see Rapid Transit statement above.
ROAD.— Embraces 144.394 miles of single track.
, ^ .
Atlantic Avenue RR. (now part of Nassau Electric) owned the double
track steam road (since converted to electricity) from Jamaica to Flatbush
Avenue Station In Brooklyn, 9VS miles (19 milos of track), which Is leased
for 99 years from June 1 1877 to the Long Island RR. Co., affording that
company entrance into the city of Brooklyn— rental, formerly a gweentage
of receipts, was changed In 1895 to $60,000 yearly. V. 61. p. 828.
gallon has arisen with Long Island RR. regarding the use or Atlantic
Avenue. See V. 74, p. 1139. In Oct. 1910 N .Y Court of Appeals decided
that the city had the right to tear up rails, but city has taken no action
looking to the exercise of the right.
lonfl
D IV ID E N D .— First div. on pref. under lease was paid Dec. 31 1900, 4 % .
1901 to 1907 lncl., 4% per annum; In 1908, N ov., 2% ; In 1909. N o v .2 % .
In 1910 and 1911.4%: In 1912, May, 2 % : Nov.. 2% reg and
of arrears. In 1913, M ay, 2% ; N ov., 4 % ; 1914 to 1917 m cl., 4 % . none since.
— V. 109. p. 173. 270, 8 8 8 . 1179.
(3) C oney Island & Brooklyn R R .
Receivership.— See B. R. T. above.
_
#
In Doc. 1913 the Coney Island & Gravesend R y. (subsidiary of the Bklyn.
Rap. Transit) received permission from the P. S. Comm to acquire -6.370
shares of the stock of this company. Coney Island & Gravesend Ry. owns
$2,637,000 and the B . R .T . $49,500 o f the co.’s stock. Bklyn. Rap. Ira n .
Co. owns $625,000 consol, mtge. bonds of 1904.
ORGANIZATION.— Chartered Dec. 10 1860. Cars commenced run
ning over the Brooklyn Bridge Feb. 15 1898. See V. 6 6 , p. 383.
Brooklyn City & Newtown was leased In Nov. 1897 for 9 9 9 years, in
1900 acquired all the stock of that company, but legal proceedings com
pleting merger with Coney Island & Brooklyn were not effected until 191U.
Default.— See B . R . T . above.
STOCK AND BONDS—
Dale.
Interest.
Outstanding. Last div. A c.
Stock. $3,500,000 (par $100).............
6 Q-M *2.083.000 Juno
18. H4
First consolidated mortgage! 1898 4 g J-J
*1,98/.000 July I 1948
$2,000,000, g old ...........n tf) Mercantile Trust C o.. New York. Trustee.
Consol mortgage.$10,000,000f 1904 4 g J-J
1/2,125.000 J^n 1 1955
gold ($1.000)...............c* tfl Mercantile Trust C o., New York Trustee.
Brooklyn City & Newtown I 1889
5 J-J
2 1,993 .000 July I 1939
first mort $2 .0 0 0 ,0 0 0 - . ntflM ercantlle Trust G °-. N .Y ., Trustee.
5%
288.062 ---------------- Real estate mortgages_______ _____
x Not including $13,000 held In treasury.
y Not Including $107,000 held In treasury.
* Not Including $7,000 owned by O. I. & B. R. R . Co.
xr v
Bond Interest.— Int. on all above bonds payable at Cent. Tr. O o., N . Y .
Bonds.— Of the $10,000,000 consol, mtge. bonds of 1904 auth. by mtge.,
$4.000,OOO are reserved for prior Hens and $3,768,000 are reserved for exts.
and impts.; $107,000 in treasury. No sinking fund and bonds cannot be
CalROAD.— First track. 22.844 miles; 2d track. 22.156 miles; tulsc. track.
7.039 miles; total oper.. 52.039 miles. 460 passenger and 26 service cars
D IV ID E N D S.— In 1895. 6 %; In 1896. 5% : In 1897. 6 %; In 1898. 8J4% j
V. 67, p. 955. In 1899 and 1900. 10%: in 1901. 1314%: In 1902. 1903 and
1904. 16%; In 1905. 10%: In 1906, 8 % ; hi 1907. Feb., 2 % . None there
after to Jan. 1914. when 6 % was paid. In 1915. Jan.. 6 % ; June 1W %
Dec., 3 % . In 1916 and 1917. 6 % . In 1918, M ar.. 1)4% : June, 1 )4 % .
None since.
OFFICERS.— V.-P. & Treas., C. D. Meneely; Sec., J. II. Bennington;
Comp. Howard Abel.— V. 98, p. 235. 303. 386; V. 99, p. 1214; V. 106.
p. 924; V. 109, p. 72, 270. 887.
(4) Prospect Park & C oney Island RR.
ORGANIZATION.— In Dec. 1915 the P. 3. Comm. auth. the South
Brooklyn Ry. (controlled by B. R . T .) to purchase at $200 per share the
1,76814 shares owned by the L 1 RR and the minority holdings frarai time
to time as offered. V.101. p.1464. Road had been operated under lease at an
annual rental of $45,000. In consideration of a guaranty by L. I. R R ..
annual Int. on the greater part of Prosp. Pk. & C. I .’s bonded debt was re
duced from 6 and 7% to 4 J4 %• See V. 56, p. 42: V. 62, p. 187. A llth o 2 d M .
6 s, $202,850 of incomo 6 s and $80,000 of 1st M . 6 s aro owned by L. I. KR .
STOCK AND BONDS—
Date.
Interest.
Outstanding
Maturity.
Stock. $100...............................................................
$250,000 ............... ..
Second mortgage, now
first? 1886 414 F-A
340.800 Feb 1 1926
160.000 Feb 11926
($1,000 each).................. c*&r\ 1886 6 F-A
Third mortgage, now second,/ 1891 414 g M-S
96.000 Mar 1 1931
gold ($1,000 each)____ c*&rl 1891 6 M-S
104.000 Mar 1 1931
Interest on above mortgages payable at office of Treasurer of Penn. R R ..
N. Y. City.
„„„
Income bonds, non-cum_____ 1880
6 M-N
250.000 M ay 1 1920 .
ROA D .— Embraces 9.281 miles of first track 8 .399 m. second track
8.327 m. sidings, &c.; total, 26.007 miles.
EARNING S.— Now included In those of B. R . T .— V. 101. p. 1371MANHATTAN BRIDQE THREE-CENT LINE.
ORGANIZATION.— Incorp. iu New York. Began operat'g In Sept. 12.
Franchise to operate from Flatbush Ave. (Brooklyn) to Manhattan ap
proved by the P. S. Comm, on Aug. 14 1912.— V . 94. p. 912; V . 95. P- 420.
For two decisions handed down by the Appellate Division of the Supremo
Court favorable to the co., see V. 97, p. 1733. See also V. 106, p. 1797.
STOCK.— Authorized, $1,008.800; outstanding. $468,000.
_
Dividends.— Initial quar. dividend o fl) 4 % paid Mar. 1 91 4 (V . 98. p.5231same rate quar. to aud incl. March 1916. None to June 1918, when H i %
was paid. Same rate has bjen paid regularly quar. since to and Incl.
Sept. 1919.
ROAD.— Operates 4.14 miles of track from Canal St. and Bowery.
N. Y ., over Manhattan Bridge, through Flatbush Ave. extension to Ful
ton St., Bklyn. 12 cars.
Vear end.
Gross
Net
Other Taxes.Rents, D M Balance.
June 30— Earnings Earnings. Income. Amort..Ac. dends.
S u r.oru ej.
1918-91___$153,111 $10,640 $3,513 $30,202
(5)$22,500 def. $8,549
1917-18-.- 134.426
46,118
2.624 24,940
( l t f ) 5.625 sur. 18.177
1916-17___ 134.741
42.409
1.655 20,146
sur.
23.918
Total surplus June 30 1918, $24,642. Passengers carried during 1917-18.
5,156,380. against 5,168,421 in 1916-17 and 4,908.477 In 1915-16.
OFFICERS.— Pres.. Fred'k W. Rowe; V.-Pres., Frederick D. Mackay
and Chas. J. Edwards; Sec., Walter Hammltt; Treas.. Ed. T . Horwlll.—
V. 96. p. 285. 1557. 1840; V. 97. p. 1733: V. 98. p. 523; V. 106. p. 1797.
VAN BRUNT STREET & ERIE BASIN R R .— A trolley road.
OR G A N IZA TIO N , &c.— Chartered Feb. 15 1861. In August 1919 the
T> S Comm, donied tho c o .’s application for auth. to Increase fares from
8 to 4 cents. V. 109, p. 677. Compare V. 108. p. 2331. Stock. $200,000. all
Issued: par. $10. Bonds, $75,1*00 1st muse, authorized; $31,000 out.
Track 2.32 miles, changed to electricity In 1898. 6 pass. cars. For year
endin'* June 30 1918, gross, $70,592; net, after taxes, $19,109; other lncome, $544; interest, &c., $1,950; surplus, $17,704.
OFFICERS — Pres.. John F. Murphy: V .-P.. D. W. Sullivan; Sec. and
Treas Wyllys Terry. Office, 264 Van Brunt St.. Brooklyn. N . Y .—
V. i08. P- 2331; V. 109. p. 677.
B U F F A L O , N. Y .
BUFFALO & LAKE ERIE TRACTION C O .— A trolley road.
Receivership.— On application or the New York Trust C o., mortgage
trustee Justice Brown in the Supreme Court at Buffalo on July 7 1915.
aimolnted Geo. Bullock receiver. V. 101, P- 129.
VDefault.— The company having defaulted on the Int. due N ov. 1 1912 on
the first and ref. M . 5% bonds (subsequent coupons also defaulted),
a protective committee requested the bondholders to deposit their bonds
with Equitable Trust C o.. 37 Wall St.. N. Y .. as depositary, or the Girard
Trust Co. of Phlla. as sub-depositary.
__
The aforesaid committee also drew up a plan of reorganization (see
V. 97. P- 297, but In Dec. 1913 the plan was abandoned.
E T O V ., 1 9 1 9 . ]
ELECTRIC RAILWAYS
17
Strike.— The strike begun on M ay 24 1916 was called off Sept. 1 1916.
ORGAN IZATION .— Incorporated In New York and Pennsylvania In
Dec. 1906 and Is a consolidation of the Hamburg Uy.. the Dunkirk Sc Fre- V. 103. p. 1031.
, donla UK., the Buffalo Dunkirk & Western B K „ the Lake Erie Electric
STOCK AND BONDS— Dale.
Interest. Outstanding.
Maturity.
Traction Oo. and the Erie Rapid Transit Co. Leases the Erie Electric Stock. $2,000,000 ($100)------- --------------------$547,200 ---------------Motor Oo. for 999 years, which company leases the Erie City Passenger Ry.
1st mtge $2,000,000. gold? 1904
5 g A-O 15
600.000 Oct 15 1934
for 999 years from Oct. 1 1888 and the Erie Reed Park Sc Lakeside Street
($1 000)
_____ c * -n tf? ln t. at Seaboard Nat. Bank, N. Y ., or at
R y. for 999 years from March 1 1901. In 1909 leased the Buffalo &
I Fidelity Trust Co.. Buffalo. Trustee.
Lack. Trac. Co. for 999 years. V. 8 8 , p. 1001. Also owns all the stock
BONDS.— No s. f., but from $50,000 to $100,000 bonds are subject to call
, of this companv, and guarantees the bonds. Also owns all stock ($750,000, at 110 and int. on any lnt. date upon 3 months’ notice. $1,400,000 bonds
all out) of the Dunkirk St. R y., which company has a franchise In Dunkirk reserved for future extensions and equipment.
and has built about 5 ntilos of track.
EARNING S.— For cal. year 1918, gross, $88,843; net, def. $8,663. In
The Niagara & Erie Power Co. Is controlled by the Buff. & Lake Erie
Trac. Co. and the Niagara Lockport Sc Ontario Power Co. Interests, and 1917. gross, $95,699.
ROAD.— Operates from Buffalo to Hamburg, East Hamburg and Or
Its bonds are guar., p ., 1. & sk. fd ., one-half each, by these two companies.
On July 17 1919 applied to the N. Y . P. S. Comm, for auth. to sell to the chard Park, 15)4 miles; also has a line from BufTalo through Gardenvllle
Niagara Lockport Sc Ontario Power Co. 480 shares of the Niagara & Erie and Ebenezer to Lien's Park, 5)4 miles. An extension to East Aurora.
Power Co.'s stock. The co. Is to transfer to the Niagara & Erie Power Co. 15 miles, is under construction, 5)4 miles completed. 60-lb. T and 80-lb.
a right of way for an electric transmission line from Athol Springs to Dun girder rail.
kirk. a distance of 34 miles. &c. V. 109, p. 887. Up to Aug. 19 1919 there
OFFICERS.— Pres.. Wm. J. Wheeler, Bklyn., N. Y .; V .-P ., A. S. MI11had been no further developments.
digg Bklyu.; Sec., D. K. Harrington, Orchard Park, N. Y .; Treas. & Gen.
M gr., N. A. Bundy. Buffalo.— V. 8 6 . p. 419; V. 103, p. 1031.
Application to Abandon Portion of Road.— On April 19 1918 the receiver
applied to the N. Y . P. S. Comm, for auth. to abandon the 28 milos of
line between Fredonia and the Pennsylvania State line, unless the company
BUFFALO & WILLIAMSVILLE ELECTRIC RY.
was permitted to increase faros. In December 1918 this petition was
ORGANIZATION.— Incorporated In New York July 1 1891. In M ay
-denied by the N. Y . P. S. Comm., which held that in the interest of the
public this line should not be abandoned. V. 108. p. 77. On Dec. 10 1918 1904 autb. capital was Increased from $75,000 to $3,500,000. and in July
was auth to abandon service on a part o f the road o f the Dunkirk St. Ry. 1904 new mtge. for $3,500,000 was made to provido extension to Rochester.
In May 1914 Batavia Traction Oo. purchased the tracks, rolling stock,
Co. (leased by the co.). provided the city be given security for the payment
property. See., of this company in Batava. V. 99, p. 269.
o f all taxes and assessments. V. 107, p. 2476.
The receiver has been authorized by the County Court at Erie, Pa., and
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Supreme Court at Buffalo, N. Y ., to issue $1,544,200 receiver’s certificates Stock ($3,500,000 authorized)------ ...............
$75,900 ---------------to provide funds for improvements and extensions, o f which $1,301,000 1st mtge. $3,580,000, gold! 1904
5 g J-J
168.500 July 1 1944
were issued and outstanding Sept. 1 1919.
($500 and $ l, 0 0 0 )-.c*& r*\lnt. at City Trust C o., Buffalo, Trustee.
Bonds.— Are subject to call on any interest date at 105.
Fare Decision.— In July 1918 the Penn. P. S. Comm, dismissed the com
plaints against a fare increase holding that an electric railway may Increase
EARN ING S.— For cal. year 1918, gross, $88,959. In 1917. gross,
Its fare beyond the 5 -cent limit specified in a franchise ordinance when it $95,699. In 1916, gross, $59,426 (operations suspended from June 1 to
Is necessary to do so to obtain enough revenue for operation and mainte Sept. 1 1916 on account of strike).
n 1915, gross, $86,377.
nance purposes. V. 107, p. 500.
ROAD.— 6.65 miles of track. Buffalo to Wllllamsvllle. Ralls 85-lb. T .
Rates__in July 1918 applied to the I.-S. C. Comm, for auth. to Increase
passenger rates to 3 cents per mile and freight rates 25% . V. 107, p. 81. Gauge 4 ft. 8)4 Inches.
OFFICERS.— President, L. L. Lewis Jr.; Sec. & Gen. M gr., Godfrey
The c o 's anolication for an Increase in class and commodity rates was
granted on Sept. 15 1918. Effective Jan. 27 1919, the New York P. S. Morgan; Treas., L. K. Warnick.— V. 99, p. 269.
Comm auth. the co. to increase interurban fares to 3 cents per mile, the
new rate to remain in effect until 6 months after the war. V. 108, p. 267.
IN T E R N A TIO N A L T R A C T IO N CO .
.
The United Gas Sc Electric Corp. (see statement o f company under New
York) owns over 60% of Internal. Trac. Co. com. stock. V. 94, p. 1383.
ORGAN IZATION .— Organized on Jan. 18 1899 under N. J. laws and
acquired all the electric railways connecting the cities of BufTalo Niagara
Falls. Lockport. North Tonawanda and Tonawanda, together with all the
street railway systems In all of said cities: also the electric railway connecting
the villages of Depew and Lancaster with Buffalo. It also acquired the
Canadian Electric Railway, traversing the entire length of the Queen Vic
toria Niagara Falls Park and connected It with the American system by the
acquisition of the steel arch bridge at Niagara Falls and the Suspension
Bridge between Queenstown and Lewiston, which bridges have been
equipped with trolley tracks. Owns entire stock and $4,984,500 bonds of
the International Ry. Co. Has traffic agreement with Niagara Gorge R R .
for the operation of cars over the latter's 8 -mlle line Contract runs to 1941.
In June 1917, purchased the Queenstown Coal Co. of East Brady, Pa., for
$150,000 in the Interest of the United Gas& Elec. Corp. V. 104. p. 2641.
In Dec. 1912 the Pub. Serv. Comm, approved the reorganization plan,
calling for exchange of old coll, trust 4s, $ for $. for new col. trust 4s of
Internat. Trac. Co. due July 1 1949, and limiting the Issue to $18,335.
0 0 0 instead of the $30,000,000 proposed.
V .96 . p. 63. The few remaining
bonds of 1890 which did not assent to plan were called lor payment on
July 1 1913 at 110 and lnt. V . 96. p. 1021.
New Preferred Stock.— On Oct. 16 1915 company filed an amendment to
Its charter permitting the consummation of the plan (V. 101. p. 527) for
retiring the $5,000,000 4% cum. pref. stock, with accumulated dlvs.
thereon (42%) by an Issue of new 7% cum. pref. stock, share for share.
$4,468,600 or the stock was so exchanged and In June 1916 the accumulated
dlvs. (42%) on the unexchanged stock were paid In cash. V. 102. p. 2188.
In April 1916 Issued $1,050,000 Serial 6 % secured gold notes to retire
floating debt and pay the accumulated dlvs. on the old 4% pref. stock un
exchanged.
New Line.—The P. S. Comm, has auth. the sale o f $3,870,000 Interna
tional Ry. ref. and impt. 5% bonds, of which $3,642,000 have been Issued,
to provide for the construction and equip, of the high-speed interurban line
from Buffalo through Tonawanda anil North Tonawanda to Niagara Falls.
16 miles, over private right o f way. V. 103, p. 1032; see also V. 107, p. 896.
Fares and Wages.— On Aug. 20 1918 the voters of Buffalo, by a vote
of 35,661 to 7.044. failed to approve the City Council's ordinance which
would have permitted a 6 -cent fare on the street railways of the city, despite
the fact that the company had increased the men’s wages only upon re
ceiving the permission of the City Council to raise the fares. In the mean
the National War Labor Board had awarded the men still higher
(owned, 15.88m.; leased, 22.76m ), 38.64 m. Sidings, &c. (owned, 6.47 m.; time
wages, this award being conditioned upon the company being granted an
leased, 4.01 m .). 10.48 m. Total track operated (owned, 121.04 m.; leased, increased
fare. The men demanded the War Labor Board rates regardless
•68.13 m .), 189.18 miles.
of the fact that the company had not been granted higher fares: the resulting
OFFICERS.—Receiver, Geo Bullock; Pres, (vacant); Gen. M gr., A R. strike, which lasted for 24 days, came to an end on Oct. 26 1918. when the
Myers; Treas. & Asst Sec., A. F. T ideswell .— V. 107. p. 81, 500, 694, 1191, City Council granted a temporary increase in fares pending final determina
2475; V. 108, p. 77, 267; V. 109, p. 887.
tion by the P. 8 . Comm. On the strength of this action the company
granted the War Labor Board wage rates. V. 107, p. 1837. 2097. In Jan.
( 1 ) B uffalo & Lackawanna T ra ction Co.
1919 the N . Y . P. S. Comm, dismissed the company’s petition for a 6 -cent
Receivership.— In Dec. 1918, upon application o f the City Trust Co. of fare in Buffalo. V. 108, p. 268. In Feb. 1919 it was reported that an
Buffalo, Harry Evers was appointed receiver for the co.; this action being agreement as to the physical valuation o f the company's property In Buffalo
the result o f a petition o f the Buffalo & Lake Erie Traction Co. for auth. to had been reached with the municipal authorities, the amount as of Dec. 31
abandon its lease o f the eo.’s line. V. 107, p. 2475.
1918, $22,792,759, being fixed as the basis of a permanent agreement,
Default.— On Dec. 1 1918 the Buffalo & Lake Erie Traction C o. defaulted whereby the city will establish control over the company's property similar
In the payment o f lnt. on the eo.’s $1,160,000 5% bonds. V. 107, p. 2475. to the plan in effect in Cleveland (which see under Cleveland Railway Co.
June 1 1919 lnt. is also in default.
on a subsequent page). Values o f intangibles claimed by the company are
ORGAN IZATION .— Incorporated in New York in June 1906 to furnish to be arbitrated, neither party being bound by the decision o f the arbitra
an entrance Into Buffalo for Buffalo & Lake Erie Trac. Co. In April 1909 tors. This agreement is subject to a referendum. Y. 108. p. 878, 2022.
was leased to Buffalo & Lake Erie Trac. for 999 years (but see above). On M ay 16 1919. however. Governor Smith vetoed the bill permitting the
Stock, $100,000 authorized, o f which $55,000 is outstanding and owned by cl tv and the company to agree upon a service-at-cost plan. V. 108. p. 2241.
Buff. & Lake Erie Trac. Co. Has universal transfers throughout the city Effective March 1 1919, the N. Y . P. 8 . Comm. auth. the company to in
crease its fares in Lockport to 6 cents, to remain in effect for one year and
o f Buffalo through contract with International R y. Co.
thereafter until further order of the Comm. V. 108, p. 878. In March
BONDS—
, Date. Interest. Outstanding. Maturity.
1919 the P. 8 . Comm, suspended the operation o f new rates on four of the
1st mtge, $1,500,000, goldf 1908
5 g J-D
$1,160,000 Dec 11928
company’s divisions, serving Lockport. Tonowanda. North Tonowanda and
($1,000), guaranteed--ctf lInterest at New York Trust C o.. TrusteeLa
Salle, until April 30 1919. V. 108. p. 1060. In M ay 1919 applied for
Bonds are subject to call at 110 and Int. They have no sink. fund. Re
to increase fares in Niagara Falls from 5 to 7 cents. V. 108. p.
maining bonds are reserved for betterments and extensions at 85% of cost. authority
2122.
Bonds guar. prin. and Int. by Buffalo & Lake Erie Trac. Co. V. 90. p. 235
Important Rate Decision.— See V. 109, p. 370.
ROAD.— 3.90 miles owned and .52 miles leased and used Jointly with
Interest Payments— Default. &c.— Because of a 24 days’ strike (V. 107. p.
Int. Rys. Co.; total. 4.42 miles. Began operating Dec. 22 1909.
1837) and a subsequent increase in wages the Nov. 1 1918 interest on the
O F F I C E R S .— Pres., M . D . Evans; V .-P ., P. C. Schutrum; Sec. & Treas.,
International Ry. Ref. Sc Impt. Mtge. bonds was not paid until Jan. 1919
F. Geo. Robinson.— V. 107, p. 2475.
(V. 108. P- 480). Compare V. 107. p. 1837. The M ay 1 1919 interest on
these bonds was paid, with interest thereon up to July 29 1919. V. 109. p.
B U F F A L O & D E P E W R Y . — A trolley r o a d .
477. The interest due Feb. 1 and Aug. 1 1919 on the 3-vear 6 % notes,
Receivership.— in Jan. 1919 it was reported that the co. was in the hands dated
Aug. 1 1917, was paid, together with interest at 6 % upon each of the
o f a receiver. V. 108, p. 170. No further information.
interest installments from its respective due date to and including
ORGAN IZATION .— Incorporated on April 27 1897. Wm. B. Cutter above
Sept. 2 1919. V. 109. p. 776.
of Buffalo. N. Y .. owns about three-fourths of the stock and the entire
The following committees have called for deposits;
$350,000 bonds.
Committee for Ref. & Impt. Mtge. 5s.— Chairman. Chas. W . Beall.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Francis E. Frothingham, Arthur Perry, Richard B. Young: Sec., Raymond
Stock. $350,000 ($100)............. ..........................- - - - $305,000 ........... ........
Spellman. 61 ^4way^^ST. Y . C ity. Depositary, Bankers Trust C o., N . Y .
Buff & D 1st M . $350,000------ 1901
5 J-J
350.000 Jan 11931
Committee for 6 % Serial Secured Notes.— Chairman, Geo. H. Reilly;
E A R N IN G S — For cal. year 1917, gross, $17,414; net. after taxes,
A. A. Jackson, R. M . Stinson; Sec., J. M . Johnson. Phiia. Depositary.
$13,671. In 1916, gross. $15,073; loss from operations, $10,724.
Girard Trust C » . Phiia. V. 108, p. 2122; V. 109, p. 270.
RO A D .— Operates a double-track road from Buffalo to Depew. 13.59
Committee for Collateral Trust 4s.— Chairman Elliott O. McDougaJl,
miles of track; 75-lb. rail; 5 cars.
Jacob Gould Schurman, Thos. Dewitt Cuyler. Thos. E. Mittem and A . F .
OFFICERS.— Pres., Wm. B. Cutter; Treas., R . A . Pilklngton; Sec.. Halstead, Sec.. 62 Cedar St., N . Y . City. Depositary, Guaranty Trust Co.
V. 108. p. 268, 1610.
Percy Eaton.— V. 79. p. 2695. ______
Buffalo Committee for C oll. Trust 4s.— Chairman H. T . Ramsdell, Wm. H .
BUFFALO SOUTHERN R Y. CO.— A trolley road.
Crosby, J. C. Dann, Charles R. Huntley, John H. Lascelles and L. P.
Receivership.— lnt. on bonds having been defaulted, N . A . Bundy was Williams, Sec., 284 Main St., Buffalo. N . Y . Depositary, Manufacturers
appointed receiver Sept. 26 1913.
& Traders National Bank, Buffalo. V. 108, p. 578.
The last-named committee has statod that if the deposit agreemmit
ORGAN IZATION .— Incorporated In New York on Aug. 26 1904 and Is
a consolidation of the Buffalo Hamburg & Aurora Ry. and the Buffalo of the committee headed by E. C. M cDougal is properly modified, all the
Gardenvllle Sc Ebenezer Ry. V. 79, p. 2146. Franchises perpetual. Has bonds in their [the Buffalo committee’s) hands will be immediately deposi
ted with said committee. V. 108. p. 578.
trackage rights In Buffalo over tracks of the International Traction Co.
G°Default on Sub'. Eo.'s Bonds.— See Buffalo & Lackawanna Trac. Co. below
The $148,000 Erie Elec. M otor Co. 1st mtge. and $102,000 2d mtge. bonds
due Jan. 1 1919 were retired at maturity; $250,000 Erie Elec. M otor Co.
1st Ref. 5s being Issued In connection therewith.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
................. $5,000,000
.................
Common, $5 ,0 0 0 .0 0 0 - --------................. 2.500,000 ...................
Prof, 5 % . $2,600,000, cum
from July 1909.-1906
. _____ N ov 1
_ 1936
__
5_ g M -N
73366,000
1 st and ref mtge. $ 1 2 ,0 0 0 ,< York
' Trust C o.. Trustee.
New
000 ^ gold ($ 1 ,0 0 0 ) - - - - c ’ tf Interest at N
5 g A-O
1,250,000 Apr 11941
Erie I$1 M 1st ref sink fund. 1901
'$ 1 ,2 5 0 ,0 0 0 . gold ($ 1 ,0 0 0 ). Interest at New York Trust C o., Trustee.
New York City.
Cannot be called----- -C*tf
Hamburg Ry 1st M , $750, 1906
4 g M -N
745,000 N ov 1 1926
0 0 0 , gold ($ 1 ,0 0 0 ) ...........tf Int. at Equitable Trust C o., N. Y ., Trustee.
5 g J-J
39.000 July 1 1952
Dun & Fred ref M . $100,000, 1902
gold ($100, $500 Sc $1,000) Fidelity Trust C o., Buffalo, Trustee.
Niagara & Erie Pow 1st M . 1911 5 J-J
522,000 Jan 11941
$1,250.000g($1.000)gu p&l Guaranty Trust O o „ New York. Trustee.
------1,301,000 __________
Receiver's certificates-------------------Bonds.—Of the $12,000,000 new bonds. $2,034,000 are reserved to take
up a like amt. of underlying liens. These new bonds are subj. to call on any
•Interest date at 110 and interest. The Erie Elec. M otor ref. bonds are
secured by deposit of entire stocks o f the Erie City Pass. R y. and the Erie
Reed Park & Lakeside St. Ry. A sink. fd. o f 1% ann. on these bds. began
Apr. 1 1906 and was increased to 1)4% In 1916. The Hamburg Ry.
■bonds are no longer subject to call. The Dunkirk & Fredonia refunding
mortgage bonds are subject to call on any Interest date at 103. The
Niagara & Erie 1st M . bonds are subj. to call, any or all, on any lnt. day
at 105. Sk. fd. from Jan. 1 1916. 1 1
of bonds auth. Bonds are guar.,
n.. 1. & sk. fd.. by Buff. & Lake Erie
and Nlag. Lockp. & Ont
' Power C o., one-half by each. V. (22 p . 530,
EARN IN G S.— For year end. June 30 1919, gross earnings, $2,189,466
■net, after taxes, $8 6 ,2 6 6 ; deficit, after deducting ail interest charges (inch
int. on Buff. & L. E. Trac. 5% bonds), &c., $523,597.
18
ELECTRIC RAILWAYS
[V o l . 109
Default— Sale of Collateral.— Default having been made on the payment of
R E PO RT.— For year ending Dec 31 (1917 report in V. 107, p. 398):
int. due Jan. 1 1919 on the coll, trust 4% bonds, tho Guaranty Trust Co., as
1918.
1917.
1916.
1915.
trustoo of this issue, has given notice that the collateral pledged thereunder Total income..................... $7,502,776 $8,255,279 $7,818,677 $6,839,974
will be sold at public auction. The collateral securities to be sold are fully Operating expenses______$5,912,848 $4,765,267 $4,030,282 $3,480,543
described in V. 108, p. 1721. The sale, originally set for M ay 28 1919, was T axes...................
531,023
637,890
535,156
425,484
postponed from time to time and had not taken place up to date of going to
press. On April 1 1919 the company defaulted on the payment o f $100,000
Operating income.........$1,058,905 $2,852,122 $3,253,210 $2,933,946
principal and also the interest on all o f the outstanding serial 6 % secured Int., rents, sink. fds.,&c.$2,213,163 $1,901,700 $1,862,709 $1,866,960
aotes dated April 1 1916. On July 16 1919 the $1,634,000 coll, trust 4s Renewals, &c., reserve.. $115,608
$293,323
$522,708
$396,582
pledged thereunder, were sold at public auction to tho protective committoo 7% pref. stock dividend.
78,200
312,802
312,452
38,657
*iee above— V. 108, p. 2122) for $300,000. V. 109. p. 270.
4% preferred dividends..
5,315
21,256
21,456
177,910
...........
STOCK AND BONDS—
Dale.
Interest. Outstanding. M aturity• Common dividends............................ (3%)300,000(414)425,000
$10,000,000
See text
Stock, common, $1 0,00 0,00 0.____
Balance, surplus..-def.$1,353,381
$23,041
$108,914
$153,837
' q-m
4.468.600 Mar '2 0 .1H
Pref 7% cum So.000.000...................
Earnings of International Traction Co. for cal. year 1918: Income from
Pref 4% cum________________ _____
631.400 Mar '20.1 %
Q-:M
16.399.000
July 1 1949 International R y. stock, $83,538; other income, $441,157 total Income,
Coll trust, $18,335.000.......... / 1912
4 J:J
...
.
$524,695; surplus applicable for note interest, none.
\Guaranty Trust C o., New York, Trustee.
ROAD, A c.— Length of line, 245.833 miles (owned. 220.990; leased,
Serial debenture notes, $500,-[1913
6 F-A
250,000
See text
000 ($1,000). g o ld ________ e iln t. at Chase Nat. Bank, N .Y .,o r Fidelity trackage, 6.647): total miles of track, lncl. second track, crossovers, sid
ings, Ac. , 436 miles.
Gauge, 4 ft. 8 ) 4 In. Rail (steel), 45 to 145 lbs.
l Trust Co. of Buffalo, Trustee.
Serial secured notes $1,050,-1 1916
6 A-O
850,000
See text 1.143 caw, of all classes. Including 955 passenger cars. Greater part of
electrical
energy
used
Is
purchased
from the Niagara Falls Power Co. and
000 ($1,000) gold___ c*cot\Central Trust C o.. New York. Trustee.
Coll trust gold notes, $5,000,-1 1917
6 g F-A
2.000,000 Aug 11920 Its allied eo.. the Buffalo General Electric Co.
000 ($1,000)____________c*( Int. at Bankers Tr. C o., N . Y .. Trustee.
OFFICERS of International Railway Co.— Pres., Edward G. Connette,
Bonds and Notes.— $18,335,000 coll, trust bonds were Issued, but $1,940,- V .-P ., E. J. Dickson; V.-P. & Gen. Counsel, Thomas Penney; Sec., N . N.
•00 have been re-acquired, o f which $1,634,000 are pledged as collateral t° Oille; Treas., P. C. Reinhardt; Aud. Charles A . Chavel.
OFFICERS o f International Traction Co.— Pres., E. G. Connette:
the Serial 6 % secured notes (but see under “ Default above). Tho deben
ture notes of 1913 mature $50,000 annually beginning Feb. 1 1914. $250- V.-Ps., Rodman E. Griscom and A. P. Forbes; Aud., Chas. A . Chavel.—
•00 have been retired. Callable at 100 & int. on any int. date. Tho notes V. 108, p. 1610, 1721, 2022, 2122, 2241, 2330; V. 109, p. 270, 577, 776, 8 8 8 .
•f 1916 are secured by $1,634,000 coll, trust 4% bonds due July 1 1949
feee under “ Default” above). They mature $100,000 annually on April 1
B U R L IN G T O N , IO W A .
from 1917 to 1925 Incl., and $150,000 on Apr. 1 1926, to be retired either
through earnings or by sale o f the pledged bonds at not less than 65.
BURLINOTON RA ILW A Y & L ia H Y CO.
$200,000 retired. Callable, all or part, at 101 and Int. on any int. date on
ORGANIZATION.— Inoorp. In 1912 in Delaware and acquired the Peo
30 days’ notice. Pennsylvania State tax refunded. V. 102, p. 1436. Coll, ple’s Gas A Elec. Co. and old Burlington Ry. A Light C o. Does entire
trust notos o f 1917 are callable at 100 ^ and int. on any int. date. Secured municipal and commercial electric-lighting and power business In Burling
hy deposit o f $2,667,000 Int. R y. Ref. & Impt. Mtge. 5% gold bonds. ton, Delta, Martlnsburg, Fremont, Mod lapolls, Wapello. What Cheer,
Co. pays normal Federal Income tax to not exceeding 4% . V. 105, p. 497. West Burlington, Sigourney, Hedrick, Thornburg, Winfield, Milton and
Dividends.— First dir. of 2% on old 4% pref. stock was
paid Fob. j1. 1913 Morning Sun, all In Iowa. Also owns steam-heating and gas plants.
wiia yarn
also an additional 4% on account of accumulated
Jul 2% and‘ 2% Railway franchises are perpetual, except for two suburban extensions of
ted divs.; July,
add’l. In 1914, Feb., 2% and 2% add’l; July.
« . In 1915. Feb., 2 % ; minor importance. Lighting franchises In Burlington expire in 1927.
r. 2 %
July, 2 % . In Oct. 1915 new 7% pref. stock was offered____________
In exchange _for
STOCKS AND BONDS— Date.
Interest. Outstanding Maturity
eld stock with accum. divs. thereon. All but $531,400 o f the atock was so C s a a o a , $3,000,000.............................................
$1,500,000 ...................
exchanged and in June 1916 the 42% accum. divs. on unexchanged stock Prefsrred $2,000,000 6 % cum ...........
6 J-J
1,000.000 ....................
were paid in cash. 4% was paid regularly on the old pref. stock to and inch First B ortfa m , $7,500,000, gl 1912
6 M-S
1.738.900 Mar 1 1932
April 1918; none since. New 7% pref. stock is cumulative from N ov. 15
($1,000) sinking fd __ c*t?J Int. at Eqult. T r. C o., N . Y ., Trustee.
1915, and a div. o f % % was paid thereon Jan. 15 1916; in March 1916 paid
Bonds.— R —saining bonds are for additions, bettsrmenta or extensions,
1H % and same rate quar. to and inch April l9 l8 . None since. Initial under certain restrictions, at 80% of cost. Callable at 105 and Int. on any
guar. div. on com.— 1J4%— paid June 30 1916; Sept. ,1% ; Dec., l f i % . Int. day cat 3 months* notice. Sinking fund of 5% of gross earnings began
Sa 1917, March, 1% ; June, 1% ; Oct., 1% . Jan. 1918 dividend passed.
July 1914. V. 9 5 . p. 678.
Franchises.— Nearly four-fifths o f the mileage In Buffalo, Including all the
EARNING S.— For years ending Dec. 31:
most important lines, is maintained, it is stated, under franchises in per1917.
1916.
1915.
1914.
1913.
etuity or upon property directly owned, only 47 miles o f minor trackag* Gross revenue.............$431,580 $427,285 $405,352 $400,818 $366,614
elng operated under franchises having less than 25 years [from 19161 to Net (after taxes)___ 176,124
186.703
182,508
182,373 177,349
run. The franchises o f the lines outside of Buffalo are either for various
ROAD.— Owns and operates about 23 miles of track In Burlington
long-term periods or are without time limit.
Consolidation of Constituent Companies.— On Feb. 20 1902 the Interna and Its suburbs. 6 6 to 85-lb. T rail. 62 passenger cars.
OFFICERS.— Pres., Geo. H. Hlgbee; V.-Ps., E. O. Walsh and M . A .
tional Railway Company was incorporated In New York with $10,120,500
stock, and In Aug. 1902 this was increased to $17,000,000, of which $16. Walsh; Sec. A Treas., J. W . Walsh; Gen. M gr., O. H. Walsh.— V. 108. p.
________
707,500 has been issued (all owned by the International Traction C o.), as a 2240.
consolidation of the following companies, whose shares had previously been
held by the Traction C o.; V. 74. p. 427.
B U R L IN G T O N , V T .
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue A
BURLINOTON T RACTION CO.
Lancaster had first been merged In the same).
Buffalo & Niagara Falla Electric Railway.
STOCK A N D BONDS—
Date. Interest. Outstanding. Maturity.
Buffalo & Lock port Railway (after Elmwood Ave. and Tonawanda Elec
•took. $200,000 (par $100)— -----Q-F
$200,000 N or. 18. 2 h
trie Railway had been merged).
JO-year bonds, $ 6 0 0 .0 0 0 ...tf 1912
6%
350.000
1942
Buffalo Tonawanda tc Niagara Falls Electric R R . Co.
Bonds.— The remaining $150,000 bonds can only be Issued with permis
sion of Public Service Commission.
Lockport & Olcott Railway.
Niagara Falls Sc Suspension Bridge Railway (after the Niagara Falls
Dividends.— Previou* to 1903 . 4% yearly. From 1903 to 1912. 6 %
Whirlpool A Northern R y. had been merged In It).
,
yearly. In 1912, 1913 and 1914. 8 % .
In 1915, Feb., 2 % ; M ay. 2 H % :
Niagara Falls Suspension Bridge Co.
and same rate quar. since to and lncl. N ov. 1918.
On July 1 1902 the International Ry. Co. acquired by purchase the
Year ending June 30— Qross.
Net.
Charges. Divs.
Surplus.
Niagara Falls Park Sc River R y .. the Clifton Suspension Bridge C o., the }» 1 7 -1 8 ...............................$153,947 $61,371 $17,500 $20,000 $23,871
Lewiston Connect. Bridge Co. and Queenston Heights Bridge C o. and In 1912-17 ............................... 152,261
61,434
17.500 20,000
23.934
Dec. 1912 merged the Electric City R y.
In April 1913 the Orosstown 1916- 16 ........................... 147.690 62.435
17,500 20,000
24.936
St. Ry. was also merged, thus leaving the International Railway Co. the sole
Latest Earnings.— 6 mos. ending Dec. 31 1918:
operating company and the International Trac. Co. the holding company.
6
mos. end. Dec. 31 1918..$77,639 $17,777 $8,750 $10,000 def.$973
Liens o f C onstituent and Owned Companies.
R O A D .— Owns 12 miles of track in city o f Burlington. Rails 60, 70
BONDS—
Date. Interest. Outstanding. Maturity.
and 75-lb. T . Owns 14 closed cars, 17 open cars, 2 convertible cars, 2 snow
Internet Ry ref Sc Imp mtgel 1912 5 g M -N $16,662,000 N ov 1 1962 plows, 1 sweeper.
$60,000,000, gold___ c*&rjBankers Trust C o., New York, Trustee.
OFFICERS.— Pres., Ellas Lyman; V .-P. A Treas., Jno. J. Flynn; Soc..
Buffalo Ry 1st con mtgef 1891
5 g F-A
5,000.000 Feb 1 1931
($1,000) $5.000,000,g, c*A r{ln t. at C o.’s ofTlce, Buff., E .W . Clark Sc C o.. O. W . Brownell.— V. 94. p. 1185; V. 109. p. 676. 981.
Phlla.. or Bankers Tr. C o., N . Y ., Trustee.
1892
5 J-J
60,000 July 1 1922
aTonawanda St R R 1st M
B U T LE R , PA.
(closed)__________________ Interest at company’s office, Buffalo.
BUTLER R AILW AYS CO.
6 A-O
40,000 April 1 1927
aTonawanda Electric R R 1st 1895
O RGAN IZATION .— Incorp. July 1 1917 In Penn, as successor to
m tge------------------------------- Intwest at company’s offloe, Buffalo.
5 g M -N
62.974.000 May 1 1932 the Butler Passenger R y., the City Division of the Pittsburgh A Butler
tCrosstown St Ry 1st mtge, g 1892
(the Interurban Division of which was sold under foreclosure M ay 9
(closed) gu p Sc I-----------c* Int. at Metropolitan Tr. C o., N. Y ., Trustee. Ry.
6 g J-D
673,000 Dec 1 1948 1917— see Pitts. Mars A Butler R y.. successor co., under Pittsburgh).
Buffalo Traction 1st mtge, 1898
The
property of the Butler Pass. Ry. was taken over by the holders of
(closed)_________________ Int. at Metropolitan Tr. C o.. N .Y ., Trustee. $500,000
1st mtge. 5% bonds due 1936 and reorganized.
_______________________
___ 1897 5 J-D
215.000 June 1 1927
Buffalo
Bellevue S
cLancaster
STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity.
mtge (redeemable at par). JInt. at Buffalo Trust C o., Buffalo.
$250,000 ............. ..
Buff Sc Nlag Falls Elec Ry—
1895 5 g J-J
750.000 July 1 1935 •tock $300,000 ($50)......................................... ........
.. 1918
5 g j-j
250,000 Jan 11948
. . .M
. . $750,000.
--------- gold.
..
-'interest at Bankers Trust C o., New York. First mortgage $300,000 gold
1st
5 g J-J
500,000 July 1 1938
($500 A $1,000)...c * A r .t f Int. payable at Butler Co. Trust C o., trustee.
Buffalo Sc Lockport 1st mtge, 1898
Butler, Pa.
gold. $500.000......... ............ Equitable Trust C o.. New York, Trustee.
5 g J-J >
800.000 July 1 1920
Bonds.— N ot subject to calf and no sink. fd.
Lockport Sc Olcott R y 1st 1900
mortgage (closed), gold Int. at Guaranty Tr. C o., N . Y ., Trus.: also
ROA D .— Operates 13.28 miles of track in Butler. Rail (girder, except
at Buffalo. Guar., p. & I., by Inter. Trac. 2)4 miles T ), 65-lbs. Gauge, 5 ft. 2 In.
($1.000)........................... c*
5 g J-J
300.000 Jan 1 1928
Niagara Falls Suspension 1897
OFFICERS.— Pres., Ferd. Reiber; V .-P ., J. V. Rltts; Sec.-Treas. and
Bridge, Clifton Suspension Toronto General Trusts Oorp.. Trustee.
Gen. M gr., R. E . Sprenkle,
_ _________
B rid g e __________________ Int. at American Exch. Nat. Bank, N . Y.
5 g A-O
125.000 Oct 1 1928
Lewiston Connecting Bridge 1898
BU TTE, M ONT.
Co, Queenston Heights' Toronto General Trusts Oorp., Trustee.
BUTTE ELECTRIC R A ILW A Y.— Trolley.
. _
Bridge C o________________ Int. at American Exch. Nat. Bank, N . Y.
This company was Incorporated In West Virginia In December 1899 as
6 J-J
518.000 July 1 1923
aNIag Falls Sc Susp Bridge Ry. 1893
aNlag Palls Whirlpool & No Ry 1894 6 J-J
'22,600 July 1 1923 successor o f the Butte Consolidated R y.. sold at foreclosure.
Interest due on Mar. 1 1916 was paid Sept. 1 1915 and subsequent cou
Real estate bonds and m o r t - j ____
6 M -N
250.000
*1919
pons due March 1 and Sent. 1 1915 and March 1 1916 were paid 6 months
gages____________________ \lnt. at Fargo A Cary Estate. Buffalo.
after
they became duo. Subsequent coupons paid when due up to and lncl.
Real estate bonds and m t g e s ..____
A-O
30,000
1921
Sept. 1918. Reports state that the March 1 1919 Int. was not paid when due.
a All owned by International Traction C o.
„
V.
108.
p. 1822.
i
5
Of this $350,000 owned by International Railway Co.
Strike Settlement— Wages.— In Aug. 1917 a strike on the c o .’s lines was
x No definite date set as to extension but allowed to remain for tho settled
by
the
adoption
of
a
new
wage scale o f 47 ft cents. 50 cents and
present.
5 3 > 4 cents per hour for men in the co. s employ for one, two or more years,
Bonds.— Of the International R y. refunding and Improvement bonds, respectively, representing an Increase o f 1 2 >4 % over former wages. Effec
$10.991,500 are reserved to retire prior lien bonds and $2,667,000 are pledged tive July 16 1918 an increase or 6 cents per hour was granted tho men as a
as security for the notes o f 1917; remaining bonds may be Issued only for temporary measure pending submission o f the wage question to the National
add’ns, lmpts., A c., with consent of t b « P . S. Comm. Coup, bonds In War Labor Board. V. 107. p. 694.
_ _ _
,
denom. of $1,000 and reg. bonds of $1,000 and multiples. Red. on any Int.
Fares.— In Aug. 1919 was auth. by the Montana P. S. Comm, to increase
date at 110 and Int. Int. payable at office or agency of the company In faros from 6 to 7 cents. V. 109, p. 676.
New York. Exempt from N. Y . State, county and municipal taxes. Sk.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
fd. began In 1912 and will provide by July 1 1949 sufficient funds to retire
M -N
$1,000,000 Oct 06, 2%
all except $641,000 of the outstanding underlying bonds to a total par value Stock. $1,000,000 (par $100)...........
U
t
M
.
$900,000.
gold.
$1.000/
1900
5
K M-S
900.000 Mar 1 1 9 #
of $12,641,500. The bonds are secured by a 1st M . on about 43 miles of
each________________c*cp t I Interest at W. A . Clark A Bro., Butte.
track (Incl. 15V4 m. In Buffalo) and by a mtge. on remaining property, subj.
Bonds
.—
May
be
called
for
payment
on
Mar.
1
1915,
or on any Interest
to divisional bonds. They will also be a 1st M . on the new line between
thereafter. Sinking fund of 10% par value of bonds began Mar. 1 1916.
Buffalo and Niagara Falls. V. 96, p. 62; V. 103, p. 1032. The Tonawanda dayDividends.
—
In
1905,
4%
;
In
1906.
M
ay.
2%
:
Oct..
2%
; none since.
Elec. R R . 1st 4s due originally on Apr. 1 1907. were extended as 4s to Apr. 1
EA R N ING S.— Years ending June 30:
, .
_ ,
1917 and in 1917 again extended to April 1 1927 at 6% . The Nlag. Falls
Year—
Gross. Net (aft. Taxes). Depr n.
Interest.
Balance.
Sc8uspen. Bdge. R y. bds. of 1893 and Nlag. Falls & YVnlrlpool Nor. bonds 1917-18.........$700,866
$132,523
$53,758
*44,667
*34.097
of 1894 given In the table above matured In 1903. but were acquired by the 1916-17 ......... 722,357
106,097
51.435
42.687
but.11.974
International Traction Co. and extended ten years, and then deposited with
1 5 - 1 6 .........650.037
100,686
53.288
« .4 5 9
«ur. 3.939
the Guaranty Trust Co. of New York as additional security under the 1 9 Passengers
carried In 1917-18, 16,237.664. against 16,138,657 In 1916-17
International Traction Co. collateral trust mortgage. These were again
extended, maturity now being July 1 1923 and bearing Interest at 6 % . All M ROALL— Operates 39.0857 miles of track. 56-60-80-85-90-lb. T rails.
the outstanding stock and $4,344,000 ref. A lmpt. 5s of the Intcrnat. Ry..
passenger and 4 work cars.
„
_
$60,000 Tonawanda St. R y. 1st ge, $40,000 bonas of Tonawanda Elec. R R ., • 1 OFFIOKRa.—
Pres.. W . A. Clark, Butte; V .-P ..W . A. Clark, Jr.; Sec. A
$518,000 bonds of the Niagara Falls A Suspension Bridge and $22,500 bonds
of the Niagara Falls Whirlpool A Northern are pledged as security for the Treas.. J. H. Anderson, 20 Exchange Place, N. V*.— V. 108, 1&22; V , 109,
p. 676.
International Traction collateral trust loan.
18.196;
S
Jfov..
19
ELECTRIC RAILWAYS
1 9 1 9 .1
C A L A I S ,
M E .
CALAIS STREET R A ILW A Y.— A trolley road
OR GA N IZA TION .— Stock. $50,000 com. and $50,000 pref.; first
mortgage. 1910 (n tf). 5s. J J. $100,000 due July 1 1930.
RE PO RT.— Calendar year 1918 and yoars ending Juno 30:
Fiscal Year—
Gross.
Net.
lnl.&Taz. Divs. Bal.,Sur.
$8,927
$5,996
$2,000
$930
Oaloudar year 1918......... $43,154
1 9 1 7 -1 8 ....................
41,926 8,905
6,072
2,500
333
1916-17____________
42.411 8,773
5.791
2.500
4S2
R OAD.— Calais Street Ry , lower wharf to upper bridge, Calais. 4 miles,
8 t. Stephen Electric Ry.. Mllltown. N. B., to 8 t. Stephen, N . B ., 3 miles;
total. 7 miles. The St. Stephen Electric Street Ry. Is a separate corpora
tion, but Is owned entirely by the Calais company. 9 cars.
OFFICERS.— Pres.. George A. Curran; Sec.. Treas. Sc Gen. Mgr.
Benjamin Y . Curran; Supt., O . F. Pray; all of Calais. Me.
C A N T O N ,
M A S S .
BLUE HILL STREET R A ILW A Y.— A trolley road.
New Control.— On N or. 1 1917 Michael A. Cavanaugh o f Roxbury, Mass.,
purchased the holdings o f Stone Sc Webster (former Managers).
To Suspend Operation.— In Sept. 1919 tho c o .’s officials were reported te
hare notified the Street R y. Comm, that the company would suspend ser
vice on Sopt. 30 1919 because “ the revenue Is insufficient to meet tho running
expenses.
,
,
.
Fares.— On Dec. 15 1918 the co. increased rates in one zone te 8 cents
and in 3 zones to 7 cents, fares in all other zones being raised 1 cent. Com
pare V. 107, p. 1836.
STOCK AND BONDS—
Dale. Interest. Outstanding. Maturity.
Stock. $300,000 ($100)--------- - - - ------$300,000 ...................
First mortgage. $500,000.
5 g A-O
250,000 Oct I 1923
gold
________________ \Int. at Old Colony Trust C o.. Boston. Trus.
Bonds.— Callable as a whole at 115 and Int. Non-taxable in Mass.
E A R N IN G S.— For years ending Dec. 31:
Year__
Gross.
Ezp.&Tazes.
Net.
In t.,& c.
Deficit.
1918
____$78,304
$82,381 dof.$4,077
$21,156
$25,233
1917............. ............ 88.474
81.518
6,956
21.498
14.542
ROAD.— Operates 19.7 miles of track from Mattapan, where connection
Is made with the Boston Elevated R y.. to Canton and Stoughton, at which
latter point it connects with the Bristol & Norfolk Street Ry. and the Bay
State Street Ry. Standard gauge. 24 cars and 2 snow plows. Franchise
erpetual. Power station capacity, 487 k.w.; also purchases power from
ay State Street Ry. Operates the Sharon & Norwood St. R R . for the
citizens of Sharon, for the cost of motorman, conductor and a given amount
S
^ O F F IC E R S .— Pres, and Gen. M gr., Michael A. Cavanaugh; V .-P. and
Treas.. Ray C. Cavanaugh: Clerk, James P. Dunn. Taunton. M ass.—
V. 196. p. 85; V. 107; p. 1836; V. 109. p. 1 7 1 .
C A P E
N .
J.
CAPE MAY DELAWARE BAY & SEWELL’ S POINT RAILROAD.
In Dec. 1917 the U. S. Navy took over the physical properties of this co.
and of tho Ocean St. Passenger R y.. extending from Capo M ay Point to
8 ewell’s Point, 7 miles, which had been sold for junk at receiver’s sale in
April 1917. V. 105. p. 1616. 2271. ^
C E D A R
R A P I D S ,
I O W A .
lated dividends up to April 1 1919. On 2d pref. paid 3% s.-a. from Sept.
1911 to March 1913. inclusive. None to April 1919, when 3% was paid.
EARNING S.— For years ending June 30:
Year—
Gross.
Ezp. & Tax.
Net.
Interest.
Surplus.
$293,427
$180,679
$84,350
$96,329
1918-19............$474,106
1917-18______ 385,498
240,309
145,189
79,775
65,414
1916-17 ........... 359.589
197,465
162,124
79.775
82,349
ROAD.— Will be 120 miles long, running north from Milwaukee to Cedarburg. where it forks, one branch extending to Sheboygan via Port Washing
ton and the other to Fond du Lac. Operates 69 miles of track, including
8 K miles In Milwaukee, between Milwaukee, Cedarburg and Sheboygan.
Is double-tracking the line between Milwaukee Sc Cedarburg, 10 miles
completed. Gauge, 4 ft. 8 Hi In. 70-lb. T rail.
OFFICERS.— Pres., Wm. A. Comstock; V.-P. and Gen. M an.. F. W.
Walker; Sec. and Treas., Henry A . Haigh.— V. 92, p. 725: V. 107, p. 82.
C E N T E R V I L L E ,
I O W A .
IOWA SOUTHERN UTILITIES CO.
Change in Control.— In M ay 1919 David G. Fisher & Co. of Davsapart,
la ., public utility engineers, purchased tho holdings of D. C. Bradley and
Frank S. Payne, Pres, and Treas.-Gen. M gr., respectively. The trans
action is said to have involved in the neighborhood of 5450,000 and the
formal transfer of control was made on M ay 15 1919. V . 108, p. 1940. 2245.
O R G AN IZATION .— Organised in Maine in 1905 as the Centerville Light
Sc Traction Co. Name changed to present title in 1916. In 1916 acqured
the property of the Centerville Albia & Southern R y. Owns and operates
without competition the street railways serving Centerville, and interurban,
passenger and freight electric railways extending from Centerville to Albia,
Iowa, with about 32 miles of interurban track. Has also acquired all the
property of tho Moulton Elec. C o., Leon Elec. C o., M t. Ayr Lt. Sc Pow.
C o., Lenox Elec. C o., Clearfield Elec. Co. and Blockton Lt. & Pow. C o.,
thus owning all the public utility properties serving more than 27 communi
ties, with an estimated population of 55,000, including Albia, Centerville,
M oulton, Moravia, Allerton, Leon, M t. Ayr, Clearfield and Lenox.
Franchises run beyond life of bonds and contain no burdensome restrictions.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Common stock $1.000,000-----$580,000 __________
Pref stock 7% $500.000........................................
360.000 ...................
Serial debenture mortgage
-----6%
190.000
Serially
1st M $2,500,000 sk fd goldf 1916
6 g A-O
957.000 Oct 1 1933
($100. $500 Sc $1,000) c * .tf{ln t. in N . Y . or Chicago. Central Trust Co.
redeem at 185 and interest l of Illinois, trustee.
Bonds assumed_______________
10,000 ________ _
Bonds.— A direct first mtge. upon the properties, tea., now owned and
hereafter acquired. Additional bonds may be issued up to 80% of cost of
permanent extens., &c., when net earnings are twice Int. charges on all
bonds outstanding, Including those proposed. A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, ls
provided. Sinking fund began March 1 1919, of 10% o f net earnings
for the previous year, but not less than 1)4% of the average amount of
1st M . bonds outstanding during the year to retire bonds or for permanent
Improvements. V. 104, p. 73. The debenture bonds are secured by mort
gage, subject to the first mortgage bonds.
EARNING S.— For years ending Dec. 31:
Cal. Yr. Gross.
Net, aft. Taxes. Bond,&c.,Int. Dividends. Surplus.
1918____$450,979
$124,953
$81,591
$25,200
$13,168
1917____ 375,019
109,120
61,747
24,500
22,87*
PROPERTIES.— A steam plant at Centerville with 240 miles o f hightension transmission lines; steam heating systems at Centerville and Leon;
a gas generating and distribution system at Centerville; a short street rail
way in Centerville, also electric railroads on private right-of-way connect
ing Centerville with Albia and Mystic, which do a freight and express busi
ness and are connected with transcontinental railway lines.
OFFICERS.— Pres., David G. Fisher; V .-P ., John C . Melners. Milw.;
Sec., L. C. Bernhard. M ilw.; Treas. Sc Gen. M gr., J. O. Johnson; And..
G. E. Peck.— V. 104, p. 73: V . 108. p. 1940. 2245.
IOWA RAILWAY & LIGHT CO.
O RGAN IZATION .— Is a re-lncorp. In 1912 of the Cedar Rapids Sc Iowa
City Ry. & Lt. Co. and has acquired the properties formerly owned by the
following companies:
Belle Plaine Elec. Co.
|Nevada (Iowa) Electric Co.
Boone Electric Co.
Perry Elec. Lt., Pow. Sc Heat Co.
Cedar Rap. & Iowa Cy. Ry. Sc Lt.Co Tama Sc Toledo Electric Power Co.
Marlon Light, Heat Sc Power Co.
Traer Elec. Co.
Marshalltown Lt.. Power Sc Ry. Co.
Owns and operates entire electric light and power properties in Cedar
Rapids, Marshalltown, Boone, Marion, Perry, Belle Plaine, Blairstown
Chelsea, Tama, Toledo and Nevada; and supplies more than 50 town*
through its high-tension lines; interurban road between Cedar Rapids and
C H A M B E R S B U R G ,
P A .
Iowa City and Cedar Rapids, Lisbon and Mount Vernon; the local street
CHAM BERSBUR G & G E T T Y S B U R G ELECTRIC R Y .
railways in Marshalltown and Boone; the gas plant in Marshalltown and
O RGAN IZATION .— Incorporated In Pennsylvania Dec. 4 1900.
tho heating properties in Cedar Rapids, Boone, Marion and Perry. Inter
urban road is on private right o f way. Also does a freight business, ex
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
changing freight with four steam roads.
Stock $225,000 ($50).............................................
$225,000 ...................
Contract with City.— For contract with City of Cedar Rapids for tho 1st mtge, $225,000 ($1,000),] 1903
5 M -N
225,000 M ay 1 1933
construction of a dam, &c., see V. 98, p. 235.
not red., no sink, fund_c * lln t. at Northampton Tr. C o.. Easton, Trust.
Also has a contract with the Iowa Electric C o. (V. 100. p. 2171) an allied
EARNING S.— For calendar years:
company, for the Interchange o f power.
Year—
Gross.
Net.
Oth. Inc. Int. & Taxes. Deficit.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity. 1918...................
$16,374
$11,165
$3
$12,447
$1,278
Com m on$3.000.000-------------------------i—
$1,700,000
Seetext
1917...................
38.653
9,073
232
11.733
2,428
Pref, $5,000,000. 7% c u m . . . , -----Q-M
3,670,454 S ep t.'l* .lJ i 1916................... 38,098
8,396
304
11,667
2,967
Oed Rap & Iowa City R
L f 1903 5 g J-D
189,000 June 1 1923
ROAD.— Operates 13.21 miles o f track between Chambersburg, Stof1st M $ 2 ,000,000gold ($1,-' Illinois Tr.
Sav. B k.. Chicago, co-trustee.
000)............................... c * tf
Int. at Harris Tr. & Sav. Bank. Chicago. ferstown. Fayetteville. Greenwood and M t. Union. 60 to 80-lb. T and
1st & ref mtge $10,000,000 gf 1912
5 M-S
5.460,000 Sept. 1 1932 girder rail. Gauge, 5 ft. 2)4 la.
($500 and $1,000)------ c*tfi Harris Tr. & Sav. Bank. Chicago, trustee.
OFFICERS.— Pres., M . C . Kennedy; Sec. and Treas., W . L. Ritchey
J-yoar coll notes $2,000,000) 1919 6 F-A 15
731,500 Aug 15 1921 Aud.. F. J. Fell Jr.; Supt., D . B . Fretz.— V. 105, p. 2271.
($500 and $ 1 .0 0 0 )-..c* .tf (Harris Trust & Sav. Bank. Chicago, trustee.
Bonds.— Of the remaining 1st & ref. bonds. $189,000 are reserved for prior
C H A M P A I G N ,
I L L .
lien, $950,000 are pledged as security for the 2-year notes and remaining
bonds are for extensions and additions at 80% o f cost for acquisitions
ILLINOIS TR A CT IO N CO. —(See Map on page 20 )
under certain restrictions. Subject to call on any interest date at 103 and
ORGANIZATION.— Incorporated in Maine on M ay 13 1904. On
Interest. Sinking fund 1% per annum o f bonds out. Mar. 1 1916 to 1921 Nov. 10 1913 Increased the auth. common stock from $10,000 000 to
1922 to 1926. 2% : 1927 to 1931, 3 % .
Sinking fund to be used for re $15,000,000, In order to acquire control of the allied Western Railways Sc
demption o f bonds or for extensions and betterments. V. 95, p. 750. Light Co. Two shares of Railway Sc Light com. were exchanged for one
Notes are callable in lots o f $100,000 or more on 30 days' notice at l o i ef Illinois Traction com ., $4,510,400 o f the $4,621,800 stock outstanding
and interest prior to August 15 1920 and at 100 H and interest there being so acquired. The pref. stock of the Railways Sc Light Co. remains
after. Interest is payable in New York or Chlacgo. Secured by outstanding. See V. 97. p. 1426.1604. Controls the following companies" Ige of $950,000 1st & Kef. Mtge. bonds, the notes being issued on the •Atchison R y ., Lt. Sc Power Co.
Jefferson City Bridge & Transit Ce.
Ls o f 77% o f the face value o f bonds pledged. Remaining notes may be Bloomington Decatur & Champ. RR •JefTerson City L t.. Ht. Sc Pow. Co.
Bloomington & Normal R y. Sc L t.C o. Madison County Light Sc Power Co.
Issued as add’l 1st & Ref. Mtge. bonds are pledged in the foregoing ratio.
On Ced. Rap.
Iowa City R y. & Lt. 1st M . a sinking fund began April •Cairo City Gas Co.
Mills County Power Co.
1 1908 and bonds are subject to call at 107)4 & int. See V. 77, p. 2279.
•Cairo Electric Sc Traction Co.
Montezuma El. L t., Pow. Sc Htg. Co.
Dividends.— 7% is being paid on pref. stock. On common, in 1911 to •Cairo Ry. Sc Light Co.
Montlcello Electric Light Co.
1914. 2% per annum. In 1915, 4% ; in 1916 and 1917 at the rate of 6 % •Cairo Sc St. Louis R y. Co
•Mound City Light £ Water Co,
per annum. In 1918, )4 o f 1% . Nonesince.
Central Lighting Co.
New Valley Junction Water Sc L t.C o .
EARN ING S.— Of combined properties year ending Dec. 31 1918, •Chicago Ottawa Sc Peoria R y. Co. •Northern Illinois Light & Trac. Co.
gross, $2,121,985; not, after oper. exp., taxes, maint. and renewals. $582. •Citizens'Ltg.Co., La Salle-Peru.
North Missouri Light & Power Co.
371; annual int. charge (inch notes), $312,991.
Citizens Pure Ice C o., Jacksonville, Omaha & Lincoln Ry. Sc Lt. Co.
ROA D .— Operates an interurban road 45)4 miles long on private right- Clinton (111.) Gas & Electric Co.
Oskaloosa Sc Buxton Elec. R y. C o.
of-way substantially 100 ft. wide between Cedar Rapids, Iowa City and Colfax Electric Light Co. Howa).
Oskaloosa Light & Fuel Co.
Lisbon: also local street railways in Marshalltown. Boone and Cedar Rapids. •Consumers Water & Light Co.
Oskaloosa Traction Sc Light Co.
42 passenger cars, 30 freight; misc., 8 ; total, 80 cars. Capacity o f power Danville Cham. Sc Dec. R y. Sc Lt.Co. Peoples’ Traction Co.
plants, 31.513 h. p. In the fall o f 1917 completed the installation of a Danville Sc Eastern Illinois R y.
Peoria Railway Co.
2,000 k .w . automatically controlled hydro-electric plant at Cedar Rapids Danville & Northern RR.
•Quincy Railway Co.
the first o f its kind to be put in operation.
Danville Sc Southeastern R y. Co.
St. Louis Electric Bridge Co.
OFFICERS.— Pres., William G. Dows; V.-P. Treas.,and Isaac B. Smith, DanTllle Street Railway & Light Co. St. Louis Electric Terminal R y.
V .-P ., John A . Reed; Sec., C.S. Woodward; Gen. M gr., S. C. Dows all Danville Urbana & Champaign Ry. St. Louis Springfield Sc Peoria R R .
Topeka Edison Co.
o f Cedar Rapids.— V. 103, p. 1508; V. 105, p. 716, 818; V . 106, p. 602; Decatur Railway Sc Light Co.
Des Moines Electric Co.
Topeka Railway Co.
____
V. 109, p. 776.
_
Des Moinee Sc Cent. Iowa Elec. Co. Topeka Railway & Light Co.
Galesburg Artificial Ice Co.
Urbana & Champaign Railway, Gas
C E D A R B U R G ,
W I S .
•Galesburg R y., Lighting Sc Power.
Sc Electric Co.
MILWAUKEE NORTHERN R Y .— An electric road.
Galva (111.) Electric Light Co.
Urbana Light, Heat & Power Co.
ORGAN IZATION .— Incorporated In Wisconsin in 1905. Operates In Illinois Central Traction Co.
•Wichita
R R . & Light Co.
terurban system entirely on private right-of-way. Franchise in Milwaukee Jacksonville Railway Sc Light C o. ,
expires Dec. 31 1934 and provides for 5-cent single fares and that 8 tickets
Companies marked with ‘ formerly comprised Western Rys. Sc L t. Sys.
be sold for a quarter within city limits. Port Washington franchise expires
In April 1907 obtained a 50-year franchise on certain streets of St. Louis
Jan. 2 1956. All others perpetual. Enters Sheboygan over tracks of She and was ako given authority by the U. S. Government to build a bridge
boygan Electric Co. under perpetual contract.
across the Mississippi River between Venice.Ill., and St. Louis, M o. This
Fare Increase.— In July 1918 increased rates from 8 tickets for 25 cents bridge was opened to traffic In N ov. 1910 and. with terminals In St. Louis,
to 6 tickets for 25 cents for the duration o f the war. V. 107. p. 82.
represents an Investment of over $6,000,000. V. 92. p. 259. On July 1
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity. m i began running express trains between 8 t. Louis Sc Peoria, 174 miles.
Stock, common, $ 1 ,0 0 0 ,0 0 0 -----------------$1,000,000 ___________ ? ! / uOD ^ ^wo Sx.°P&-^at Springfield and Lincoln— the running time being
1st pref., $400,000, 6 % cum.......................... ..
400,000 Apr '19.3 % 5H hours, or about 32 miles an hour (V. 93. d . 44). In Aug. 1911 the
2d pref, $600.000,6% non-cum------M-S
600,000
See text company opened offices in Chicago, with the purpose of securing freight
1st mtge $4,000,000 goldf 1911
5 A-O
1.687,000 Apr 11931 from points between Chicago and St. Louis, though company has as yet
($500 and $1 000).........c t f l ln t . at First Sav. & Tr. C o .. MIlw.. Trustee. no direct entrance into Chicago. V. 93. p.527.
Bonds.— Remaining bonds may be Issued only when net earnings are
Fare and, Rate Increases.— On Dec. 4 1916 the I.-S. C . Comm, approved a
twice int. charges, incl. bonds to be Issued, at not exceeding 7 5 % o f cost schedule of fare between St. Louis, M o., and Venice. Madison and Granite
o f extensions, additions, &c. Subject to call at 105 and Int. V. 92, p .725. City, III., which increased the average receipts per passenger from 5 to 7.2
Dividends.— Dividends o f 3% paid s.-a. on 1st pref. from Sept. 1911 to cents. In Jan. 1918 the Illinois P. S. Comm, authorized the company’s
Mar. 1914 (lncl.). None to Jan. 1916, when 1 )4 % was paid. In May 1916 subsidiaries to charge 2 cents a mile for passenger service, instead of the
and )4% each month thereafter to Oct. 1916. In Dec. 1916 paid 1 fixed rates within zones, effective Feb. 11 1918. In Sept. 1918 Judge
1 %.
In April 1917.3% , In 1918.6% . In April 1919 paid off all accumu English in the U. S. Dist. Court at Danville, 111., issued a permanent*in-
Sc
Sc
See
n
Sc
20
E L E C T R IC
[V ol . 109.
R A IL W A Y S
N
w
N
L
A
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o GalenA
'Rockford
Wlnneoago
Freeport'
C II I
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(IOWA)
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(IOWA)
GA
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£ Dixon
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(IOWA)
< / 'V 7°,
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(IOWA)
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Street Railway & Electric Light
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Street Railway, Electrio Light and Gas
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A
Electric Light and Gas
□
Electric Current Sold to Local Companies
2
T
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o
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Electric Light and Water
Electric Light, Gas and Heat
M A P O F TH E
ILLINOIS TRACTION SYSTEM
Ellsnjirth'y
' 8 Kuruka
S Watson
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8Ehrlich
l Yu mini la
Pimento! * r
Ashboro
FannsfsburgL Q
'JSALINE CITY
S Eel River
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Pittsburg ) Coal City
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T E R R E HALpnti
S p rin /llill L
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City Properties controlled
by the Illinois Traction Co.
&
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K tan c! \ \ 8 Compton
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TRANSMISSION 5 T . L O U I S /
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rRANtfORD
NEW LONDON
Haepi'ston
S7jRv»"(‘i"«"apte, *0a 4 West Union
< ® f ilG E ^ |v c « > 1 1 W e s t Melcherf
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Jackson
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S P R I N G F I E L D /C3
Woodsid?
Chatha
J A C K S O N V IL LE
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Barcc NGTONf
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Oxford
Chalterton
Independence
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w oo ° m £
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Henderson
t X P l_ A N A T I O N
Interurban Lines
Electric Light Transmission Lines
*
CHICAGO, OTTAWA & PEORIA RAILWAY
Interurban Railway and Transmission Service
Street Railway, Electric Light, Gas, Heat and Ice I
Street Railway, Electric Light, Gas and Ice
SHOWING CONNECTIONS WITH
CHICAGO a EASTERN ILLINOIS RAILROAD
CHICAGO, ROCK ISLAND a PACIFIC RAILWAY
T E R R IT O R Y IN ILLINOIS
T
U
C
K
Y
Nov., 1919.]
E L E C T R IC
R A IL W A Y S
21
Stock.— The pref. stock Is red. at 105 and accrued div. and la guar. p. A d.
(end.) by the Illinois Traction Oo. Tax exempt in C oan.. New Hamp
shire, Illinois, Ac.
Bonds.— Of the $3,500,000 1 st and gen. mtge. bonds. $600,000 are re
served for prior liens and $1,700,000 for extensions and Inapts. under careTul restrictions. Are guar. prln. and int. and s. f. by 111. Trac. C o. Int.
In N . Y . or Chicago. Callable as a whole or in part for s. f. at 102X and
Int. on any Int. date. Sink. fd. 1% of bonds out annually. 1912 to 1919:
2% 1920 to 1928. Of the bonds outstanding, $87,000 are In sink. fund.
V. 93 p 665 The R y .. Elec. A Heating C o. bonds are subject to call at
110 ana Int. Sink. fd .. $10,000 annually, began June 1908: $151,000 are
In sink.fund and Included In amount outstanding.
ROAD — Operates 19 miles of track In. around and between Bloom
ington and Normal. Ralls 70 and 72-lb. Has 32 pass, and 5 misc. cars.
Power station has 3.300 k. w. capacity.— V. 106, p. 2648: V . 109. p, 8 8 6 .
(4) Cairo Railway & Light Co.— A trolley road.
OR G A N IZA TIO N .— Incorp. on Oct. 5 1908 In Maine and purchased
all stock of the Cairo Elec. A Trac. C o., the Cairo City Gas C o. and the
Cairo A St. Louis R y. Co. The Cairo Elec. A Trac. was a consolidation of
the Egypt Electric Co. and the Cairo Electric Light A Power Co.
Rates.— See Illinois Traction Co., above.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
8 tock, com ., $1.000.000 ($100) Ail owned by Western Rys. A Light Oo.
Pref. stock $366,000_________ - ................................
$366,000 - -------------Cairo Ry A Lt M $1,000,000 gntf 1908 5 g J-D
850.000 Dec 1 1938
Debenture gold bonds--------------—
5%
j 1,500.000 Jan 1 1926 0 E A T 1st M . $300,000. gntf 11903 5 K J-D
150,000 June 1 1923
l
62,000 Apr 1 1927
($500 and *1 000)_______ c n tflln t. at Central Trust C o., Chic, Trustee.
Cairo City Gas Co $75,000 gold 1903
5 g J-D
75.000 June 1 1923
Western Railways A Light Co.—
Pf cura6% $3,500.000 ($100) . . . .
Q-J
3.169.000 See text
Bonds.— C. E. A T . bonds subj. to call on any Int. date aft. 10 yrs. at 105.
Debenture gold bonds— — t f - - - 5%
1.645,000
—
R OAD.— Operates 9 miles of track In Cairo, together with the electric
Utock.__Additional preferred stock canonly beIssued when net earnings
lighting and power plant. 22 cars. Furnishes city with 72 arc and 260
are eaual to 9% on preferred stock out and the amount proposed to bo Incandescent lights: also supplies 40 commercial arcs.— V . 8 8 . p. 293. 374.
Issued
Preferred stock Is listed on Montreal Stock Exchange.
(a) Cairo & St. Louis Ry.
•
Dividends__6% per annum is being paid on the preferred stock. First
Controlled by Cairo R y. A Light Co.
..
dlv nn com
paid May 15 1913: samo rate quar. to and incl. Feb.
ORGANIZATION.— Incorporated In Illinois Oct. 1908 to construct a
1918
M ay i 9 1 8 div. omitted (V. 106, p. 1231, 2228). Dividends have line from Cairo to East St. Louis. Has a 50-year franchise In Cairo, Mound
been’ paid on Western Rys. A Light pref. stock since organization.
City and Mounds.
„ .
„
_ „ .
, , , ..
REPORT — Of combined properties for calendar years (1918 report in
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
V. 108. p. 2428, 2423):
_______
$300,000 ---------------Stock, $300.000___________________
Gross Eartunas.—
1918.
1917.
1916.
1915.
First mtge. $250.000.g-cArtf/ 1908
5 g M -N
250.000 Nov 1 1938
_____ $4,740,079 $4,609,896 $3,993,836 $3,559,028
Interurban lines
\Portl’d (Me .)Tr.Co..Trus., AF.D.Luat.Portld
Citv lines
‘
— 3,351,256
3,198,056
3,110,811
2,871,035
Bonds.— Coupon bonds are in $1,000 pieces and registered In aay desired
Gas
................. - - 1.282,104
1.035,169
923,642
905,703 amount. Int. at Portland (M e.) Tr. Co. No s. f. and not subject to call.
Eloctric*
.............— 4,887,743
4,295,501
3,689,852
3,325,411
ROA D .— 11.46 miles of track completed and In operation; 10 cars; 1
Heat .w ater'A miscell..
999.821
902,248
848,307
526.818 eagine.— V. 8 8 . p. 293.
Total gross earnings..$15,261,003 $14,040,870 $12,566,447 $11,187,995
(5) C hicago Ottawa & Peoria Railway C o.
_
_
Oper exp. and taxel— 10,966,998
9,149,176
7,489,797
6,657,569
ORGANIZATION.— Bought outright in 1909 the Illinois Valley R y.
Operates largely on private right of way. Franchises in various towns
Net earnings_________ $4,294,005 $4,891,694 $5,076,650 $4,530,426 mature mostly after 1950.
. .
,
Interest on bonds, &c— $3,880,261 $3,719,541 $3,606,418 $3,268,607
Rate Increase.— In Aug. 1918 was auth. by the 111. P. U. Comm, to in
Pref dividends (6 % )—
437.370
432,750
428,130
428.130 crease freight rates 25% . V. 107, p. 603.
ar
Common dividends____(^ )9 2 ,4 8 0
(3)368,732 (3)367,584 (3)367,539
In April 1919 the company issued $406,000 pref .stock at par.
p“ re
Junction restraining the State of Illinois from interfering with the company
in the proposed increase of passenger rates above 2 cents per mile, with 3
cents per mile as the maximum charge. V. 107, p. 1287. On Dec. 26
1918 was authorized by the I.-S. C. Comm, to increase passenger rates to
not to exceed 3 cents per mile.
V. 107, p. 2476.On M ay 16 1918 the fol
lowing faro and rate revisions were authorized by the 111. P. U. Comm,
(a) 6-cent fare in Jacksonville and Cairo, with 20 tickets for $1: (6) Straight
5-cent fares in Danville. Decatur. Champaign, Urbana, Bloomington,
Quincy and Galesburg. In July 1919 cash fares in Quincy, 111., wore in
creased to 7 cents and aro to remain in effect until Doc. 31 1919. V. 109,
p. 370. Fares in Urbana. Champaign. Bloomington and Normal wore
raised to 7 cents effective Aug. 1 1919. V. 109. p. 477, 886. (c) In
creases per 1,000 cubic foet o f gas for the first 5.000 cubic feet consumed
monthly as follows: Decatur. 10 cents; Danville, 20 cents: Champaign,
Urbana and Galesburg. 25 cents. The M o. P. S. Comm. auth. an increase
in the charge for gas suppliod at Jefferson City, M o. V. 106. p. 2228. On
July 2 1918 the 111. P. U. Comm. auth. the Peoria Ry. to charge a straight
5-cent faro, and on June 7 1919 the same co. was auth. to charge a 6-cent
fare for a period of 1 year from that date. V. 108, p. 2650.
Subsidiary companies’ bonds in the hands of the public Aug. 1 1919
amounted to $54,105,500.
.
S T O C K AND B O N D S —
Date. Interest.
Outstanding. Last Divid
Common. *15.000.000 ($100)................................. $12,331,000 See text
Pref 6% cum $10,000,000(5100)
Q-J
f 7 .2 8 9 .5 0 0 Oct * 1 9 . ^
Total deductions____$4,410,111
$4,521,023 $4,399,132 $4,064,276
Surplus
................._.def$l 16.106
$370,671
$677,518
$466,150
From the balance as above in 1918 there was deducted $92,123 for bond
discount and $611,159 for depreciation resulting in a deficit of $819,388:
while in 1917 there was deducted $650,705 for depreciation and $82,140
for bond discount, loaving a deficit o f $362,173.
ROAD.— The taterurbaa lines comprise 625.61 miles o f track: city lines
comprise 270.22 miles of track: total of all Uses, 8 ' 5.83 miles. In 1912
entered into a contract with Wabash RR. for a physical connection and
general Interchange at Decatur. Has working agreement with all steam
roads In Its territory that can be of service, except the Pennsylvania and
N. Y. Central lines. Interurban linos have 197 passenger, 124 exprose,
1,085 freight cars and 34 raise, cars, and 35 locomotives: city lines have
425 motor cars and 201 others: 4 central power stations and 40 sub-stations
on interurban lines.
OFFICERS.— Pree.. W. B. McKinley. Champaign: V.-P. and Gen. M gr.,
FI. E. Ohubbuck. Peoria: V.-P. and Treos., Geo. M . Mattls ChampaignSoc., T. B. Macaulay, Montreal.— V. 106, p. 1231.2228, 2443, 2456, 2758:
V. 107, p. 1287, 1384,2476: V. 108. p. 2428, 2443, V. 109, p. 370, 477.
PROPERTIES CONTROLLED BY THE ILLINOIS TRACTION CO.
(1) Atchison Railway. Light A Power Co.
ORGAN IZATION .— Successor In 1895 of the Atchison Ry. Elec. L. & P
Co. Controls electric railway, lighting and gas properties o f Atchison.
STOCK AN D BONDS— D a t e .
In ter es t.
O u tsta n d in g .
M a tu r ity .
Stock. $1,500,000 ($100)....... ............
.................
$500,000
......... ..
Preferred----------------------------- -------6%
136,000 __________
First mtge $1.500,000.........tf 1910
5%
750.000 N ov
1935
Ronds.— Sinking fund, $5,000 per annum, payable N ov. 1 1915 to 1919
and $10,000 per annum thereafter; S24.000 held alive in fund Sept. 1 1919.
ROAD.— Operates 9.74 miles of track. 26 cars. Supplies city with
99 arc lights and 135 incandescent lamps: also 8 arcs for commercial
lighting; 2,782 electric and 2,279 gas meters In use.— V. 107. p. 1191.
(2) B loom ington D ecatur & Champaign RR.
ORGAN IZATION .— Incorporated in Illinois on N ov. 29 1910 as a con
solidation of the Chicago Bloomington A Decatur R y . and St. Louis Decatur
& Champaign Ry. Operates on private right o f way except through cities
and towns (8 miles) where t r a n c h i s e s extend to or beyond 1953.
STOCK AND BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
Common, $3,000,000________ _____
_______
$3,000,000 __________
Preferred 5% ($1,137.500).....................................
1.137.500 - .................
1 st* ref mtge, $15,000,000. g / 1910
5 g M -N
1,500,000 Nov 1 194C
($1,000 coup & $1,000 orj Interest at Illinois Trust & Savings Bank
mill tip reg.) gu pAi.c*Ar*tf t Chic.. Trustee, or Chase Nat. Bank, N . Y
General mortgage----------------i 1910
5 M-N
890,000 Nov 1 1940
(Central Trust Co. of Illinois, Trustee.
Stock.— Of the pref. stock, $912,500 Is Series " A " and 8225.000 is
Series “ B ."
In March 1916 issued $500,000 5% Ser. A pref. stock to retire a likr
amount o f General Mortgage bonds.
B o n d s . — Of the $13,500,000 "1st & ref." bonds reserved for various pur
poses, $6,750,000 are reserved fer acquisitions o f two connecting interurban
roads (Danville Urbana A Champaign and Illinois Central Trae.),$l .262,000
to redeem the general mtge. bonds, $472,060 to replace general ratge. bond*
Issued in the future and $5,016.000 for 80% o f cash cost ef additions and
Improvements. These $5,016,900 bonds, excepting $500,000 (issuable at
any time for 80% o f cost o f additions and improvements, with consent of
N. W . Halsey A Co.) can be issued enly when the preceding 12 months
gross earnings have equaled five times and net earnings 1 H times the inter
est charge on all bonds outstanding and those proposed to be Issued. Bonds
are unconditionally guar., p. A 1.. by Illinois Trac. C o. They are redeem
able at 105 on any int. date. V . 92, p. 259. Int. on general mtge. bonds Is
payable at office o f Merchants’ Bank of Canada. New York.
ROAD.— Owns and operates 106 miles of track (96 miles, main line; 10
miles sidings) extending from Bloomington through Decatur to Champaign
and Urbana. 60 and 70-lb. rails. Standard gauge, 248 cars and 6 loco
motives.— V. 102, p. 65.
(S)
Bloom ington & Normal Railway & Light Co.
ORGANIZATION.— Incorporated In Illinois on Feb. 23 1906 as a con
solidation of the Bloomington A Normal R y.. Electric A Heating Co. and
the Consumers Light A Heating Co. of Bloomington. Does all local street
railway and commercial electric light'and power business In Bloomington
and Normal and operates hot-water and steam-heating system In Bloom
ington. Principal railway franchise in Bloomington expires In 1929 In
this franchise city reserves right to purchase plant at an appraised value
plus 10% of same. Railway franchises in Normal that are not perpetual
expire In 1922. Principal lighting franchises are perpetual. Minor fran
chises In Bloomington ror lighting and for steam and hot water heating
expire In 1930 to 1935.
.
In Jan. 1917 the authorized capital stock was Increased from $1,650,000
to $1,900,000. V. 104. p. 255. In Dec. 1917 the Illinois P. U. Comm,
auth. the company to Issue $53,000 additional pref. stock and $ 6 6 ,0 0 0
bonds. Up to Sept. 1 1919 the bonds had not been issued.
Rates.— See Illinois Traction C o., above.
Maturity.
STOCK AND BONDS— Date
Interest. Outstanding.
Com stock, $1,200,000 ($100)...................... . . . .
S i.200,000
Pref. stock, $700,000, 6 % c u m -----Q-F
611,000
1st and gen mtge. $3,500,0001 1911
5 J-J
...... ..... . ......
1.200,000
Jan 1 1928
gold ($1,000).......... c*Artf(Illinois Trust A Sav. Bk., Chicago, Trustee
B A N R E A H 1st ratge.l 1902
5 « J-D
600.000 June 1 192i
$600,000 ($1,000) g .s f.c * t f /Int. at 111. Trust A Sav. B k.. Chic.. Trustee
V ’8 T o 6 jk AND BONDS— Date.
Interest. Outstanding. Maturity.
Com. stock— $1,540,000 outstand’g— All owned by Western Rys. & L t. C o.
Preferred stock cum ulative.-. - - . 6%
406,000 - — - - - - -
First cons and ref mtge, guar.f 1907 5 g J-D
$3,494,000 Dec 1 1937
$5 000 000 ($1.000)____tflCentral Trust Oo. of Illinois, Trustee.
IlllnolsVal 1st M ! $2.000.000j 1905 5jg M-S
1.070.000 Sept 1 1935
g ($500A $1,000) .guarc - t f (Int. at Irving Nat. Bank. N . Y . City.
Bonds.— Ch. Ott. A Peo. 1st M . bonds are guar., p. A I., by Western Rys.
A Lt. Co. $1.500,000 are reserved for prior liens. They are subject to call
on any int. day on 30 days’ notice at 105. Int. at Merchants’ Bank of Can
ada in N . Y . City. Illinois Valley bonds have a sinking fund or I X % per
annum of amount out; mtge. was originally $2 ,0 0 0 ,0 0 0 , but on merger with
Chic. Ott. A Peoria the $500,000 unissued was canceled; $430,000 held In
sinking fund. Bonds are guar., p. A 1., by Western Rys. A L t., Portland,
(M e.) Trust Co. is trustee. Are subject to call at 105.
. „ .
„
ROAD.— Operates from Princeton. 111., via Peru, La Salle. Utica, Ot
tawa. Marseilles, Seneca and Morris to Joliet, about 117 m ., with branches
from Spring Valley to Ladd and from Ottawa to Strentor, 16 m.: total,
about 123 m. Road from Morris to Joliet was placed In operation In Dec.
1911:108 cars; 3 locomotives.— V . 97, p. 594; V . 107, p. 603; V . 108, p. 267.
( 6 ) Consumers W ater & Light C o.
„
ORGANIZATION, A c.— Incorp. In Illinois In 1913 to succeed the Mar
seilles Water A Light Co. (successor In 1910 to the Consol. Wat. A Lt. Co.)
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
S ta ck ____________________________
______ _
$500,000 ---------------First & ref M $500.000......... - 1913
6 J-D
75,000 Dec 1 1938
Consol W A Lt bonds (n tf)...............- 5%
30.000 Dec 1925
(7) Danville Champaign & Decatur Ry. & Light C o.
ORGANIZATION.— Incorp. in Maine May 14 1913. Is a holding
company and controls substantially all the electric, gas. street railway
and public-heating systems in Danville, Decatur, Champaign and Urbana.
Franchises covering gas. electric and heating, with few exceptions, extend
many years beyond 1938. Street railway franchises expire at various dates
before 1938. the laws of 111. not permitting long-time street ry. franchisee.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Stock. $3.700.000 ($100)...........................- - - - - *3. 6 8 8 .000 ....................
Pref. 6 % cum, guar (S100)............ —
6 Q-M
730.000
See text
Cons A ref coll tr $15,000,000/ 1913
5 g M-S
3,841.000 Mar 1 1938
g c*Ar*. red at 104 and int,(In t. at Boston Safe Deposit A Trust Oo
guar prin and interest__ tf l Trustee. H. D . Heathfield also Trustee.
Stock.— Pref. stock is red. as a whole at 110 and div. Cumulative divs.
At the rato of 6 % and also $ 1 0 0 a share in the event of involuntary liquida
tion or dissolution (and $ 1 1 0 per share otherwise). are guar, by endorsement
by the Illinois Traction Co. V. 103. p. 406.
Bonds.— Secured by all the stocks and bonds of constituent companies,
namely $1,504,000 Dec. R y .A L t. Co. Consol. A Ref. 5s; $1,099,000 Urbana
A Champ. Consol. A Ref. debs.; $1,603,000 Danville St. R y. A Lt.
Oo. Consol.A Ref. 5s and $10,000 Urb. Lt. Ht. A Pow. Cons. A Ref. 5s.
There are $2,330,500 underlying bonds for payment of which a like
amount of cons. A ref. bonds is reserved. Remaining $12,660,500
may be issued for additions and improvements to constituent companies
under certain restrictions. They are guar. p. A I. by III. Trac. C o., as are
also sub. co. bonds deposited under this mtge. All future Issues of stocks
and bonds by constit. cos. must be pledged under above coll, trust Issue.
V. 96, p. 1422. Coupon bonds In denom. of $1,000; regls. bonds $1,000.
$5 ,0 0 0 , $ 1 0 ,0 0 0 or multiples of $ 1 ,0 0 0 .
Sinking fund will retire before maturity about 40% of total bonded debt.
Incl. underlying bonds: $125,000 (not incl.in amt. outstanding) In sink. fund.
EARNINGS.— Of constituent cos. for 12 mos. ending Dec. 31 1918.
gross, $2,539,121; net, $918,342; interest, $303,736: surplus, $614,606.
(a) Danville Street Railway & Light.
Controlled by Danville Champaign A Decatur R y. A Light Co.
ORGANIZATION.— Incorporated In Dec. 1899 as a consolidation of ail
the street railway, electric light, gas and steam-heating interests.
In Dec. 1917 the Illinois P. U. Comm. auth. the company to issue $129,*
0 0 0 additional bonds (not incl. in amount reported outstanding).
Rates.— See Illinois Traction Co., above.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
$1,438,000 ...................
Stock. $1,500,000 ($100)-............................. ........
Refunding mortgage, $700.-1 1900
5 g J-J
640.000 Jan 1 ’20-’25
gold ($1.000)------------ c* t f |Interest at N . W . Harris A Co.
Consol and ref debs. $7,500,-1 1913
5 M-S
1.603,000 Mar 1 1938
000 ___________________ t f /Central Trust C o. of III.. Trustee.
Bonds.— Ref. bonds are due $6,000 annually Jan. 1 1910 to 1924 inclusive
and remainder on Jan. 1 1925; $60,000 have been retired. Sinking fund of
$6,000 per year began Jan. 1 1910. bonds being drawn (at par and accrued
int.) in numerical order, beginning with No. 1 . Mortgage trustee Is the
Illinois Trust A Savings Bank, Chicago. V. 70. p. 125. Of the consol. A
ref. debs, of 1913, $1,400,000 are deposited under D. C. A D. Ry. A Lt. M .
$646,000 are reserved to replace underlying bonds and $5,454,000 for cost
of new property.
C O M PAN Y’S P R O PE R T Y .— The company owns the following: 1. Gas
works operated under special charter and a perpetual franchise. 2. An
electric-light plant Is operated under a 99-year franchise; also has dynamos
for furnishing power to street railway. 3. The entire street railway sys
tem of the city, 16.37 miles of track, nearly all laid In brick pavement,
running to three parks, the fair grounds, cemetery and railway depots and
National Soldiers’ Home. Equipped with 50. 60 and 70-lb. Johnson T rails
with 26 motor cars (General Electric) and 12 others. Furnishes electric
current at Westville, Georgetown, Rldgefarm, Indianola, Sidell and
1 Chrlsman.
22
E L E C T R IC
OFFICERS.— Same as those for Danville Urbana Sc Champaign Railway
Go.— V. 106, p. 85.
(b ) D e c a t u r R a ilw a y & L ig h t C o .
R A IL W A Y S
[V ol . 109.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Com stk, $1,000,000 ($100)_All owned or controlled by Illinois Trac. Co.
do
do
do
do
Pref stock, $150,000________ ;
Sk
fd gold bonds, $10,000,000 1913
.........................
6 g M-S
$1,597,500 Sept 1 1937
($500 & $1,000) red at 105 Interest at First National Bank, New York,
& int guar p & I and s f by
or the Central Trust Co. of Illinois. Trustee.
end by Illinois Trac Go .c*
Des Moines Elec 1st M $5,- 1908
5 M-N
2.731.000 Nov 11938
000,000 ($1,000) s f ____tfllnterest at American Trust C o., Boston.
Osk T Sc Lt Co bds $300,000? 1903
5 g J-J
219,000 Jan 1 1923
($1,000) gold sink fund..c* 11nt. at U. S. Mtge. Sc Trust C o.. N. Y ..Trus.
Bonds.— Additional sinking fund gold bonds can only be Issued for 80%
of the coat of Improvements, See., to the sub cos., and certain other restric
tions. Annual sinking fund of 1)4% of bonds out began Sept. 1914.
$37,000 (incl. in outstanding amount) held alive in maint. and renewal fund
Des Moines Elec. Co. 1st M . bonds are subject to call after Nov. 1 1914
at 105. Sinking fund. 1% of bonds N ov. 1 1914-21; 1)4% 1926-31; 2%
1931-37. Oskaloosa Trac. Sc Light bonds have sinking mnd of $5,000 te
be delivered to trustee annually. V. 98, p. 839, 1536.
Earnings.— Of sub. cos. of the Des M . Sc C. I . E. Co. for 12 mos. end,
Dec. 31 1918, gross, $1,333,528; net. $531,797; int., $184,618; surplus.
$347,179.
(12) Galesburg Railway, L ighting & Power Co.
ORGANIZATION.— Incorp.ln III. Sept. 10 1913 and took over the Gales
burg Ry. Sc Lt. Co., the Galesburg Gas <Sc Elec. Lt. C o., the Knoxville
Elec. Lt. Sc Pow. Co. and the Abingdon Lt. & Pow. Co.
Rates.— See Illinois Traction Co. above.
In M ay 1917 auth. capital stock was increased from $3,500,000 to
$4,000,000. In April 1919 the co. issued $350,000 Consol. Sc Ref. M tge.
bonds. Compare V. 108, p . 268.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock. $4,000,000 ($100)........................................... $3,474,300 ......................
Consol ref mtge, $5,000.0001 1916
5 g J-D
1,154.000 Oct 1 1934
($1,000) red at 105-_c*&rjlnt. at Merchants’ Bank of Canada. N. Y .
Galesb Ry & Lt 1st cons___ _____
__________
781,000 __________
Bonds.— Sufficient consol, ref. mtge. bonds'are reserved for prior liens
and remainder for additions, &c. Bonds are guar., p. Sc I., by Western
Rys. Sc Light Co. Sinking fund retires 1)4% o f bonds outstanding April I
each year and 1)4% of all underlying bonds not pledged under the consol,
ref. mtge. Up to Apr. 25 1919, $36,000 had been retired. The Old Colony
Trust C o., Boston, is trustee.— V. 104, p. 2117; V. 108, p. 268.
(1»)
Central T raction C o.— A trolley road.
ORGANIZATION.— Incorporated in Illinois in 1903 under general
railroad laws. Mostly private right o f way
On Apr. 1 1919 issued $245,000 pref. stock at par. Compare Y.108, p.268.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
$ 1 , 1 0 0 ,0 0 0 __________
Common stock $1,100.000_______
Preferred s t o c k _________
“
245 000
l8t^
tK0-,J,2>Or,O-O(K) 1*1.1 1903' 5 k J - D " '
1,469,000 D e c 'T 1933"
000) gold, g u a r ------- c*tf|Int. at Old Colony Tr. C o., Boston, trustee.
Temporary general raort . . . t f ------ 5 Sc 6
1,000,000 1929 Sc 1931
, ®?h“ s-T 'p re subject to call on any Interest date on 60 days’ notice at
10734 and int. Are guaranteed, p. Sc l „ by Illinois Traction Co. V. 82.
P - 804. A sinking fund of 10% of net earnings became operative Dec. I
*
no^ ° be I038 than 1% of bonris outstanding* $223,000 held in s.fd.
R O A D .—Operates 45.5 miles of track from Decatur to Springfield, with
an extension from Buffalo to Mechanlcsburg, 70-lb. rails. Has 12 pass.
^ ! r ? n . V , ca^?> 171 freight cars, 4 electric locomotives and 2 misc. cars.
OFFICERS.— Pres., W. B. McKInlev; Sec.. E. A. MacNutt; Treas.
Geo. M . Mattis; Gen. M gr., M . E. Chubbuck.— V. 84, p. 339; Y. 10*,».2ti*.
(14) Jacksonville Railway & L ight Co.
— Incorporated in Maine in Dec. 1905 and is a consolldation of the Jacksonville Ry. Co. and the Jacksonville Gas Light Sc
Coke Co. Franchise perpetual.
Rates. See Illinois Traction Co. above.
jSSPJESxr
DateInterest. Outstanding. Maturity
Com stock $500,000 ($100)__ _____
_______
$100,000 _____ ____ _
Pref stock $123,000 outstand’g— All" owned by Illinois Traction Co.
’ f V J l 9°e
5 g J-J
756.000 Jan 1 1931
I.
11*L’P9. ? * f ° ontr*l Trust O o „ Chicago. Trustee.
5 J^l
118.000 Jan 1 1931
Jacksonv Gas Light Sc C o k e ? -----° l Int • Merchants’ Loan Sc T r. C o., Chicago.
001180la. $118,000 are reserved for prior
l1®0* - ,
f u.?5ivp ’ f
by I'Unois Trac. C o. 2% of bonds out Is payable
annually to n staking fund. Are sub. to call on any int. date at 105. Int. at
£ ank . Canada. N . Y. $82,000 Jack. Gas L. Sc O. retired.
R O A D . Operates about 7.65 miles of track and also does electric lighting
1542^\L 97*p *1733 ‘ v ^ g Y f i s ' 14 m0tOr cars aud 9 others-— V. 95. p.
Controlled by Danville Champaign & Decatur R y. Sc Light Co.
ORGANIZATION.— Incorporated in Illinois in Dec. 1903. to take over
the property of the Decatur Traction Sc Electric C o., the Decatur Gas &
Electric Co. and the Decatur Steam Heating C o., owning all the street rail
way. gas and electric-lighting business and steam-heating plant in Decatur
and suburbs.
In Dec. 1917 the Illinois P. U. Comm, authorized the issuance o f $180,000
additional stock and $60,000 in bonds (incl. in amounts reported out
standing) .
Rates.— See Illinois Traction Co., above.
STOCK AN D BONDS—
Date.
Interest. Outstanding.
Maturity
$1,555,000 ...................
Stock. $1,555,000 ($100).......................................
Decatur Gas & Electric Col 1899 5 M -N
150,000See text
first mortgage_________ tf lint, at Merch. L. * Tr. C o., Chic., Trustee
Decatur Gas & Elec Co 2d M
1899 5 J-J
90.000 Jan 1 1930
$400,000($300.000reserved(Interest at Merchants’ Loan Sc Trust Co
for above ($1,000), gold tf I Chicago, Trustee.
Dec Trac Sc Elec 1st M $300.-1 1900 5 J-J
212.000 Jan 1 1921
000($500& $l,000each)c*tf/Int. at Illinois T r .* Sav. B k.. Chic., Trustee
Dec Ry & Lt Co 1st & cons M
1903 5 g J-D
743,000 Dec 1 1933
$1,300,000,g ($l,000)-c*tfflnt.O ldC ol.Tr.C o.,B os..Tr..& agencylnN .Y .
Dec Ry & Lt con & ref mtge! 1913
5%
1,504.000 Mar 1 1938
$7,500,000 (red at 105). tf/Central Trust Co o f 111., Trustee.
Bonds.— $1,225,000 Decatur Railway Sc Light Co. first and consols, are re
served to retire an equal amount o f prior liens as above. A sinking fund
o f 10% of the net earnings, or not less than 1% of outstanding bonds, is
to be Invested In the bonds. Amount outstanding includes $238,000 bonds
held in sinking fund. These bonds are subject to call at 107>4 and lnt
on any Interest date upon 60 days' notice. Of the Decatur Gas tc Electric
Co. 1st M . bonds. $15,000 must be redeemed on May 15 1910 at 105 and
a like amouut each year thereafter in numerical order. These bonds
are subject to call at 105 and interest. The second mtge. bonds of the
Decatur Gas & Electric Co. are redeemable at any time at 105 and lnt..
but there is no sinking fund on these bonds. Of the Dec. Ry. & Lt. consol.
Sc ref. bonds. $1.504,000 are deposited under the Danv. Champ. & Dec. Ry.
Sc Lt. consol. & ref. mtge. $1,225,000 are reserved to retire underlying
bonds and $4.821,000 tor new construction.
ROAD.— Operates about 15 miles standard-gauge road in Decatur and
suburbs; 60 Sc 72-Ib. T rails. 35 motor cars & 4 others.— V. 106, p. 85.
(c) Urbana & Champaign Railway, Gas & Electric C o.
Controlled by Danville Champaign Sc Decatur Ry. Sc Light Co.
ORGAN IZATION .— A consolidation In 1897 o f Urbana & Champaign
Electric Street, Champaign Electric Light Sc Power. Champaign Sc Urbana
Gas Light Sc Coke and West End Park companies. Owns perpetual gas
and steam charter. The underlying railroad charter is also perpetual.
Franchise in 1901 extended for 20 years.
Rates.— See Illinois Traction Co. above.
STOCK AN D BONDS— Date.
Interest. Outstanding. Maturity.
S tock,$836,000.......................................................
$836,000 ...............
Consol mortgage, $500,000? 1899
5 g J-J
$54,000 July 1 1929
($1,000. gold_______ c .n t fl l n t . at Portland T r. C o., Portland, Me.,Trus
U Sc C R y 5 & E consol and I 1913
5 M-S
1.099.000 Mar 1 1938
ref debs $4,000.000_____t f I Central Trust C o.. Chicago. Trustee.
Bonds.— The consol, mtge. bonds are subject to call on any int. day at 105
O f the U .& G . R y ., G.|&E. consol, and ref. d ebs.,$1,099,000 are deposited
under D . O. Sc D. R y. Sc L t. consol. & ref. M ., $354,000 are reserved
to retire other bonds and $2,572,000 for additions and improvements.
ROAD.— Operates 12.60 miles o f track In and between Champaign and
Vrfaana. Has 32 motor cars and 5 others.— Y. 105, p. 2544; Y. 109, p. 478.
(d) Urbana L igh t, Heat & Power Co.
Controls the electric lighting and steam-heating business o f Urbana.
Entire stock is owned by Illinois Traction Co.
Rates.— See Illinois Traction Co. above.
STOCK AN D BONDS— Date.
Interest. Outstanding.
Maturity.
Stock $185,000-..........................................................
$185,000 ...................
First mtge $50,000 ($ 5 0 0 ).ctf 1903 5 M -N
4,500
See text.
Second mortgage $200,000? 1909 5 J-D
$7,000
See text.
($1,000)_______________ tf (Central Tr. C o. of 111.. Trustee. Int. In Chic.
Consolidated and refunding! 1913
5%
10,000 Mar 1 1938
m ortgage______________tf/Central Trust Co. of Illinois, Trustee.
Bonds.— First mortgage bonds mature $2,000 to $4,500 annually on
M ay 1 until M ay 1 1920. $49,500 retired up to Sept. 1 1919. Of second
mtge., $13,500 are reserved for prior bonds and $94,500 are for new con
struction. Bonds mature on Mar. 1 yearly from 1918 to 1927. They
are guar, by Illinois Traction Co. V. 89, p. 167. The entire outstanding
amt. ($10,000) o f consol. Sc ref. bonds are deposited under Danv. Cham. Sc
Dec. R y. Sc Lt. mortgage.
^1w)n ’i eM.vr w ,1.9 ,,t y «L,Kht' Heat & Power Co.
O RGAN IZ N , &C.— Owns majority o f stock o f Jefferson City Bridge Sc
OFFICERS.— Pres., W . B . McKinley; Sec., E. A. M acNutt; Treas. Transit
Co. V. 97, p. 1666. Supplies gas and electricity to Jefferson City.
Geo. M . Mattis; Gen. M gr., H. E. Chubbuck.— Y. 105, p. 2462.
M o., and furnishes current for operation of the street railway. In Nov.
1915 made a 9-year contract with city Tor street lighting. Has $200,000
(8) Danville & Eastern Illinois Ry.
Stock, $125,000. Temporary bonds to the amount o f $50,000 (5% ) are common stock, $195 000 pref. stock, $200,000 1st M . 5% bonds (cp t) due
May 1925 and $189,000 1st Sc ref. bonds outstanding.
outstanding, due 1927.
(16) Madison C oun ty Light & Power Co.
(9) Danville & S outheastern R y. Co.
Is a consolidation in 1906 of the Kdwardsvllle Light Sc Power Co. and the
ORGAN IZATION .— Incorporated in Illinois on Jan. 14 1909.
Granite Clty-Venlce Electric Co. Supplies light and power to EdwardaSTOCK A N D BONDS—
Date
Interest.
Outstanding. Maturity
ville. Granite City, Carlinville, Madison, Venice, Woodriver, Worden,
S to c k _______________________All owned by Illinois Traction Co.
East Alton and several smaller towns; also electric current to Livingston
First mortgage $100,000 gold, 1 1909 5 g J-J
$60,000 July 11929 and Williamson, and furnishes gas to Carlinville. Two of the principal
($1,000)__________ c & r t f/ln t. at Central Trust C o., Chicago, trustee. franchises are perpetual; none expires earlier than 1956, except the easement
Bonds.— Subject to call at 105 and int. on any int. date. Guaranteed, under which the co. operates in Granite City, which expires in 1925. In
p. Sc L, by Illinois Traction Co.
Dec. 1912 increased its stock from $100,000 to $335,000. Common stock is
R OAD.— Operates 2.82 miles o f road fromlDanvllle City limits to Grape all owned or controlled by Illinois Traction Co.
Rates.— See Illinois Traction Co. above.
Creek coal district. 70-lb. rails.
OFFICERS.— Same as those for Illinois Central Traction Co.
8TOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common stock, $335,000_________
_________
$335,000
(10) Danville Urbana & Cham paign R y.
Preferred stock___________________
_________
38.000
ORGAN IZATION .— Incorporated in Illinois under the railroad law on 1st mtge $1,000,000 ($1,000)? 1906
5 g J-D
624,000 D e c ' 1*1938
July 28 1902. Owns the Danville Paxton Sc Northern R y. Mostly private
gold--------------------------c* tf ( Int. at agey. Merchants’ Bk. o f Canada,N.Y
right of way.
.
,
( Central Tr. Co. of Illinois, Chic., Trustee.
On N ov. 28 1917 the company issued $550,000 preferred stock.
Bonds.— Remaining bonds are for exts. and add'ns. Sink, fund of 1 )4 %
STOCK A N D BONDS—
Date. Interest.
Outstanding. Maturity. of bonds previously certified began Oct. 1 1916; bonds retired to be canceled
Common stock $250,000__________
_______
$250,000
------- -— Guar. p. Sc i. (end.) by Illinois Traction Co. Can bo called on four weeks’
----------550,000 - - - - - - - - - notice on any int. day at 105.
Preferred stock3550,000------- -------Earns. Cal. Yr. 1918.
1917.
1916.
1915.
1914.
1913
First mortgage $2,000,000(1903 5 g M-S
2.000.000 M ch. 11923
$258,646$219,191 $179,321 $154,234 $137 859
gold $1,000) guaranteed ( Interest at Agency o f Bank of Montreal ,N. Y . Gross earnings..$322,201
N etafter taxes..$114,083
$96,429 $85,599 $68,496
$64,173$57'(>10
c* t f ____________________ ( Northern Trust C o., Chicago, Trustee.
Bond int., d e c... 31,700
29,860 27,200
26,550
27,790 Not s’t a’d
Second mortgage $500,0001 1905 0 g J-J
42.000 See text.
Property.—-Reserve electric powerplants In Edwardsvllle and Carlinvillegold ($1,000) serial__ c* t fjln t . at Agency Merchants’ Bk. o f Can., N.Y.
General mortgage bonds_tf 1910
6%
700,000 N ov. 1930 a gas plant and gas-distributing system in the latter city; high-tension
Bonds.— The first 5s have no sink, fd., but aresubj. to call on any int. date transmission lines, sub-stations. See. The company purchases, under a
upon 90 days’ notice at 105 & int. The bonds are guar., p. Sc L, by end. by contract extending until 1947, electricity generated in the power station
Danv. St. Ry. Sc Lt. Co. and Urbana Sc Champaign R y., Gas & Elec. Co. at Venice, controlled by the Illinois Traction Co.
V. 81, p. 264. The 2d 6s mature $50,000 on Jan. 1 1908 and $50,000 each
(17) N orthern Illinois Light & T raction C o.— A trolley road.
Jan. 1 thereafter. The $5O,o0o due on Jan. 1 1908 and $50,000 due Jan. 1
ORGAN IZATION .— Incorporated In Illinois and was successor in July
1909, as well as $42,000 o f the $50,000 due Jan. 1 1911. were extended. 1903 to the Ottawa R y., Light Sc Power C o., sol under foreclosure.
Fran
$458,000 have been retired. They are subject to call at par on 30 days chise perpetual for lighting and until 1930 for railway. Has contract for
notice. Are guar., p. Sc 1., by 111. Trac. Co. Trustees are Montreal T r. Sc city lighting. Western Rys. & Light Co. owns all the stock.
Dep. Co. and Thos. Fyslie.
In Sept. 1913 increased stock from $250,000 to $750,000. V. 97, p .729 .
Rales.— See Illinois Traction Co. above.
ROAD.— Operates 76.16 miles of track over private right of way, con
necting the cities of Danville, Urbana and Champaign, with branches from
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturiu.
Danville to Georgetown and Ridge Farm; Danville to Gatlin and Ogden Com. stock, $750,000 ($100).................................
$-398,000 ............... ..
to Homer. 70-Ib. rails. Has 20 pass, cars, 23 express cars, 175 freight Preferred stock________ _____ _____
________
216.000 ...................
cars, 11 locomotives and 7 miscellaneous cars.
First mtge, $1,200,000, goldf 1903
5 g J-J
______ _______
*068,000
July 1_____
1923
($500 and $ l,0 0 0 )-.c * -.t f (Int. at American Tr. C o., Boston, Trustee.
OFFICERS.— Pres., W . B . McKinley; Sec., E. A . MacNutt: Treas.
6%
174,000
1938
eo. M . Mattis.— V . 83. p. 435; V. 84, p. 338; V. 88. p. 563; V. 106. p. 85. General M ($1.000,000).....................
•All but $265,000 of these bonds are guar., p. Sc 1., by endorsement, by
(11) Des M oines & Central Iowa Electric C o.— A holding company- Western Rys. & Light Co.
Bonds.— No sinking fund and bonds cannot be called. Remaining bonds
ORGAN IZATION .— Controls the Iowa subsidiary properties of the
Illinois Traction C o., which include the electric-light and power companies, are for 80% of cost of additions, extensions and new properties, under con
serving Des Moines, Oskaloosa. Colfax, New Valley Junction, New Sharon. servative restrictions.
Earnings.— For year ending Dec. 31 1918, gross, $461,888; net, after
Prairie City and Montezuma and the street railways In Oskaloosa. Con
trols the Des Moines Electric Co. and the Oskaloosa Traction Sc Light Co. taxes, $128,082. In 1917, gross, $213,821; not, after taxes, $72,474.
The bonds of this co. are secured by pledge of $614,000 gen. mtge. 6%
ROAD AND PLA N T.— Operates 6.5 miles of line, covering the principal
bonds of the Des Moines Elec. Co. (total out) and all the common and pref. streets of Ottawa, and runs out of the city to Ellis Park, a pleasure
stock of the same co. Also $166,000 gen. mtge. bonds and all the stock of resort on the Illinois River. Also has extensions from Ottawa to Chautau
the Oskaloosa Traction & Light Co. and bonds o f various other cos. in an qua Park. Equipment, 8 motor and 3 other cars. Also does entire elec
aggregate amount o f $249,000.
tric light and power business in Ottawa and wholesales power to local
ELECTRIC RAILWAYS
Nov., 1919. j
utility companies In La Salle, Utica, Seneca. Morris, and to the Chicago
Ottawa S
cPeoria Ry. At Marseilles owns a hydro-electric plant with steam
auxiliary, having a capacity of 8,000 h. p., and at La Salle has a 4,000 k. w.
turbine generator with auxiliaries.— V. 97, p. 729.
(18) Peoria Railway Co.— A trolley road
ORGANIZATION.— Incorporated under general railroad laws of Illinois
In 1906 and is successor to the Central Railway Co. Has acquired, owns
and controls all street railway lines in Psoria and outlying suburbs of Averyville, Peoria Heights and East Peoria. The entire stock la controlled by
the Illinois Traction Co. Franchises in Peoria expire in 1926 and those In
adjoining districts in 1924.
Favoraole Decision.— On Oct. 26 1911 the Illinois State Supreme Court
reversing the Circuit Court, held that the City Councils could not grant a
franchise to the Peoria Ry. Term. Co. over streets to which the Peoria Ry.
already held a franchise. V. 93. p. 1535.
Rales.— See Illinois Traction Co. above and V. 108, p. 2630.
STOCK AND BONDS— Date.
Interest.
Outstanding. M aturity.
Oom. stock. 81.010.000.......................................
$1,010,000 ...................
Preferred stock------- - - - - - - - - - - - ----------505,000 __________
First S
cref mtge. $3,600,000.1 1906 5 g F-A
2.459.000 See text.
gold ($1.000)...............c* t f l Interest payable In New York.
General mortgage.................tf 1909
5%
908.000
Feb 1926
Bonds.—Of the $3,600,000 first and ref. bonds, $291,000 are reserved
for additions and improvements at 75% of cost; $755,000 have been retired^
They are guaranteed, p. & I., by endorsement by the Illinois Traction Co.
The bonds are secured by a first mortgage upon all properties and ’ ranchises of the Peoria Railway Co. now owned or hereafter acquired. The
trustee is the Illinois Trust & Savings Bank, Chicago, 111. Remain
ing bonds mature on Feb. 1 as follows: $105,000 in 1920, $110,000 in
1921. $115,000 in 1922. *120.(WITin 1923. $125,000 in 1924. $130,000 in
1925, and the remaining $750,000 in 1926. They are subject to call on
any int. date at 105 and Int. See V. 83, p. 38. 436;V. 86, p. 42; V. 90,
^ ' r OAD.— Owns and operates 54 miles of standard-gauge track, 122 motor
cars, 23 other cars. Also owns valuable property near the centre of city and
considerable other real estate, including several amusement parks, estimated
•e be worth $500.000— V. 100, p. 902. 1079; V. 101, p. 213; V. 108, p. 2630.
(19) Quincy Railway Co.
ORGANIZATION.— Incorp. In Illinois in 1SR2 as successor to the Quincy
Horse Ry. Sc Carrying Co. V. 94. p. 1628.
Does entire (electric) street railway business In Quincy. Principal franehise is unlimited, granted In 1865, and exclusively for 50 years. Other
franchises mature from 1922 to 1937.
Rates.— See Illinois Traction Co., above.
STOCK AND BOND9—
Date.
Interest. Outstanding. M aturity.
Stock, $1.000,000.------------ - . . . .
.............
$1,000,000 ............... ..
Bonds, $ 1 .5 0 0 ,0 0 0 - - - - - - tf 1912
5%
599.000 Feb. 1 1932
Quincy Horse Ry. Sc O. Oof 1898
5%
*00.000 Oct 1 1923
($550.000)______________ lPortland Trust Co., Trustee.
The Quincy Horse Ry. & Carrying Co. $400,000 5% bonds originally
matured on Oct. 1 1918, but were extended for 5 years.
ROAD.— Operates 22.85 miles of track; 51 cars; 25 one-man cars were
delvered in September 1919.— V. 94, p. 1628.
(20) St. Louis Electric Bridge Co.
ORGANIZATION.— Incorporated in Jan. 1907. Owns a bridge from
Salisbury Street, St. Louis, to Venice, 111. In April 1909 company in
creased capital stock from $2,500 to $1,000,000. V. 88, p. 946. Stock all
owned by Illinois Traction. For franchise provisions, see V .85 p 100
Construction was started in Oct. 1907 and bridge was formally opened
on Nov. 101910. V .85, p. 100: V .88. p.946; V .9 1 .p . 1328
P
First mtge. gold (5%).auth.jJ3.50j9,000 ($1.000)tf;outstanding,$2,592.
000; date 1913; due Dec. 1 1929. E. Bentley Hamilton, Peoria, trustee
This mtge. replaced the old (temporary) mtge. of 1909. V. 98. p. 74.
(21) St. Louis Electric Terminal Railway Co.
Owns extensive freight and passenger terminal stations costing about
$5,000,000; also valuable real estate and a 50-year franchise giving the Illi
nois Traction an outlet in St. Louis. Also owns and operates city cars over
about 18 miles of street railway in Madison. Granite City and Venice
Fare Increase. — See under Illinois Traction Co.
STOCK AND BONDS— Date.
Interest. Outstanding
faturitv
Common. $1,000,000------------ All owned by Illinois Traction Co.
First mtge, $3,500,000, gold! 1909
4-5 F-A
1,724 000 D ec*f"l92«
($1.000). guar P & l— td ln t. at Merchants- Bk! of c S a M o n t^ l
Bonds.— First M. (temp.) bonds are subject to call at par on any Interest
day. No sinking fund. They are guar., p. Sc 1.. by Illinois Traction Co.
(22) St. Louis Springfield & Peoria RR.
ORGANIZATION j— Incorporated In Illinois Dec. 1 1909 as a consolida
tion of theSt. Louis <Sc Springfield Ry., the St. Louis Sc Staunton Ry., the
Tri-OItyj Trac. Co. and the St. Louis * Northeastern Ry. Operates on
private right of way except through cities and towns (about 17 miles) where
franchises extend to or beyond 1953. In 1911 acquired the Springfield
In 1912 acquired the Peoria Lincoln & Springf. Ry. Co., the Peoria Bloom
& Champaign Trac. Co., the Terminal Pow. Co. and the Springfield Sc
Northeastern Traction Co. (acquired Nov. 1 1913).
v 8
Has long-time contracts for use of bridge and terminals of St. Louis Elec
tric Bridge Co. and St. Louis Electric Terminal Ry.. enabling It to operate
directly into St. Louis.
In March 1916 Issued $1,000,000 Ser. " A ” 5% pref. stock to retire a like
amount of Gen. Mtge. bonds.
Fare Increase.— See Illinois Traction Co. abore.
STOCK AND BONDS—
Date. Interset. Outstanding. M aturity
Common $6,000,000 ($ 1 0 0 ) --...........................
$6,000,000
.................
Prof. $3,572,000 ($100) 5 % - - - - - - ......
3,572,000
.................
1st Sc ref mtge *15.000.000 g( 1909 i J-D
5.045.000 Dec 11939
($1,000 coup Sc $1,000 or j Illinois Trust Sc Sav Bk, Chicago, trustee
multiples reg.)
c*Ar*tfl Interest In New York. Chicago oVLondon.
St Louis & Springfield 1st M l 1903 5 g J-D
451,000 Dec 1 1933
($1,000) s f gold guMC^tf/Interest at City Trust Co.. Boston, trustee.
StLSp&PgenM $15.000,000tf - - - 5%
2,932.000 1939
Springfioltf
Northeastern r1?06.
58
145,000 Dec 1 1936
Traction 1st mtge $1,500, Int. at agency Merch. Bank of Can., N . Y .
000 ($1,000) gold...........c* iSS?trt ‘ T^ t° ° - of HHnoIs. Trustee.
Peoria Bloomington
Cham 1906 5 g M -N
280,005 Nov 1 1936
Trac 1st M $3,000,000 gold Int. at agency Merch. Bk. of Candaa, N. Y .
($1.000)....................... c * t f
Central Trust Co.. Chicago, Trustee.
Bonds.— Of the $9,955,000 1st A ref. bonds reserved for various purposes,
$145,000 are reserved for Springfield & Northeastern Traction Co. bonds,
$564,000 to retire prior liens, $2,932,000 to redeem a like amount of general
mortgage bonds and $6.481.000 for 80% of cash cost of additions and ex
tensions. The $6.337.000 and the $2,765,000 for redemption of gen. mtge.
Sc
Sc
the Interest charge on all bonds outstanding and those proposed to be issued.
Redeemable at 105 on any Int. date. Bonds are unconditionally guar.,
p.
I., by Illinois Trac. Co. _V. 90, p. 304; V. 95, p. 177. Are listed on
Chic. Stock Exch. St. Louis
Springfield 1st M . bonds are subj. to call
on any int. date on 60 days' notice at 107)4
Int. Are guar., p.
I., by
HI. Trac. Co.; $215,000 (not incl. in outstanding amount) held In s. f.
Peoria Bloom.
Cham. Tr. 1st M . bonds are guar., p.
i., by 111. Trac.
Oo. They are subject to call on any Interest date at 105 on 30 days’ notice.
ROAD.— Extends from Venice, opposite St. Louis, to Peoria and Bloom
ington , with branches from Staunton to Hillsboro. Trackage, 210.49 miles;
main track, 10.10 miles belt line, 0.29 miles second track, 23.06 miles of sid
ings and turnouts and 7.59 miles o f industrial tracks; total. 251.53 miles.
Standard gauge. Owns 64 passenger cars, 56 express cars, 488 freight cars
9 locomotives, 13 miscellaneous cars. V. 102. p. 68; V. 103. p. 1302.
&
Sc
Sc
Sc
Sc
Sc
(23) Topeka Railway & Light Co.
ORGAN IZATION .— Inooro. In Maine and owns the Topeka R y. Oo.
(soe below) and the Topeka Edison Co. (V. 92, p . 730). These own and
operate without competition the street railway, commercial electric light
and power and steam-heating properties In Topeka and Oakland, Kansas,
Population served (1915 Stato Census), about 50,000.
with
one minor exception, extend beyond Feb. 1 1933.
Franchises,
23
Interest. Outstanding.
M aturity.
STOCK AND BONDS—
Date.
................................. $1,500,000
............
Common stock___________________
------------584.000
...........
Preferred stock---------------------- -. -. . .
1,410.000 Feb. 1 193a
1st lien & ref M $7,500,000 g 1916 5 gF-A
($100, $500. $1.000,&c)c*&r* Int. in N. Y ., New York Trust C o.. Trustee
836,000 Sept. 1 1930
Topeka Edison Co mortgage 1905 5 J-J
_____ _____________
$1,250,000
.......................tf , Int. at Cont.&Comm.Tr.&S.B., Chic., Trus.
Topeka Ry mtge (see that co ). 1904
5 g J-J
1.085,000 Jan. 1 1930
Bonds.— The 1st lien and ret. bonds are secured by pledge of the entire
capital stocks and. excepting $1,889,000 underlying issues, all the bonds
of the subsidiary cos. $2,142,000 are reserved to acquire or retire under
lying bonds, and remaining $4,057,000 may be Issued to the extent of 80%
of cost of additions and impts. to the properties of the sub. cos., but only
when annual net earnings are IK times the annual int. charges, Incl. the
bonds proposed and all underlying bonds held by public. They are guar.,
p. & I., by the 111. Traction Co. and are red., all or part, on any int. date
at 105 and Int. Sinking fund began Aug. 1 1917 of 1)4% per ann. to
and Incl. 1929 and 1% thereafter of the total amount of bonds outstanding
(incl. underlying bonds), less amounts paid on account o f sink. fund, re
quirements of underlying mtges. (It Is estimated 32% of the $3,250,000
outstanding bonds will thus be retired Feb. 1 1933.) $40,000 in sinking
fund Aug. 1 1919. Bonds In fund are held alive. The Topeka Edison
Co. bonds have a sink, fund of $15,000 per ann., payable Dec. 15 $165,000
have been retired. Beginning with the 2-year period ending M ay 31 1918.
and during each 2-year period thereafter, there must be set aside for
maintenance and depreciation an amount averaging 12% o f the combined
annual gross earnings of the subsidiary cos. V. 104. p. 74.
EARNINGS.— Year ending Dec. 31 1918, gross, $918,821; net, after
taxes, $259,221; int., $158,359. In 1917 gross, $894,862; net, after taxes,
$328,772; int., $160,916.
.
PROPERTIES.— 39 miles o f electric street railway, largely 70 to 79- b.
Trails; 51 double and single-truck motor cars, 28 trailers; power plant, gen
erating capacity, 5,893 h.p.; 255 miles of power and light-distributing lines
and 8,300 meters; exhaust steam system for heating purposes: miscellaneous
real estate.— V . 104. D. 74.
(a) T opeka Railwav C o.— Controlled by Topeka Ry. S
c Light Co.
ORGANIZATION.— Incorp. under general railway taws of Kansas in
1892; In 1903 absorbed the Vinewood Park R y ., and made a new mtge. for
$1.250.000. On June 4 1993 obtained a new 30-year franchise, runaing from
that date, with the provision that $400,000 be expended within 3 years on
the system. Also has secured franchises in perpetuity ea county reads now
occupied, with privilege of hauling freight. City agrees never to reduce
rates to where company will earn less than 10% on stock. The city is to
receive 10% of earnings remaining after 10% has been earned. Upon exlration of franchise city has the right to acquire the property, but not
efore. V. 76, p. 866, 1302. On June 26 1916 authorized capital stock
was increased from $1,250,000 to $2,250,000. V. 103. p. 62.
In Dec. 1917 the Kansas P. U. Comm, granted auth. to issue $81,001
1st S
cref. mtge. bonds for the purpose of paying off outstanding obligations
and for extensions and betterments. Up to Sept. 1 1919 these had not
been issued.
„
.
„
F a res. — In Sept. 1919 was auth. to charge a 6-cent fare. Compare
V. 107, p. 1005.
STOCK AND BONDS— Date.
Interest. Outstanding. M aturity.
B
S tock. $2,259,000 ($100).....................
$1,250,000 f .p ..
1.085.000 Jan 1 1930
First mtge. $1,250,000. gold 1904 5 g J-J
($1.000)........................c* tf Int. at Cont.& Comm.Tr.ic S.B.,Chic..Trus.
See text.
Feb 1 1933
First Sc Refunding bonds------ 1916 5%
,New York Trust Co., Trustee.
Bonds.—Remaining bonds are reserved for 80% of cost of new power
house and for betterments and additions. Sobject to call at 105 and int.
$165,000 have been retired. A sinking fund began Jan. 1 1910. which is
sufficient to retire $15,000 per annum at 105 and interest. $120,000 bonds
of 1916 are deposited as collateral with the Topeka Ry. Sc Lt. Co.
EARNINGS.— For the year end. Dec. 31 1918, gross, $450,081; net,
$124,418; int., $61,000; surplus, $63,418. In 1917. gross. $457,781; net.
$164,211; int., $61,750; surplus, $102,461.
ROAD.—See Topeka Railway Sc Light Co. above.
OFFICERS.—Pres., W .B . McKinley. Champaign. 111.; V.-P. & Treas..
Geo. M. Mattis, Champaign; Sec., E. A. MacNutt, Montreal.—V. 90.
P..915, 978; V. 103. p. 62; V. 104. p. 74; V. 107. p. 1005;.V. 108. p. 380.
(3 4 ) Wichita Railroad & Light.—Trolley.
ORGANIZATION.—Chartered May
for 30 years. Street rail
way franchise expires 1933. In 1910 entered into a 20-year contract for
purchase of power from Kansas Gas & Elec. Co.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Oom stock, $1,500,000 ($100)..................................... $300,000 ..................
............
300.000
_____
Pref. stock ($100).............................
First mortgage, $300,000/ 1900
5 g A-O
309.000
Oct 1919
gold_____ c - . tf\Int. at Portland Tr. Co., Pertl'd, Me., Trus.
Ref.& cons.M., $1,500,000,g.tf. 1907 5 g A-O
1.193,000 Oct 1 1932'
Bonds.— 1st M. bonds are subject to call at 105 on 6 months' notice.
ROAD.—Owns 32 miles of trolley track in Wichita, Kan., Including
double-track bridge over the Arkansas River and extensions to wonderland
Park and Fair Grounds; 107 cars.—V. 93. p. 941, 1192.
1 1900
($1,000),
C H A R L E S T O N ,
S.
C .
CHARLESTON CONSOLIDATED RAILWAY & LIQHTINQ CO.
As of Dec. 31 1918 the United Gas Impt. Co. owned $1,400,000 common
and $449,650 pref. stock.
ORGANIZATION.
__________________ Incorporated in South Carolina on April 19 1910.
Leases for a period of 99 years from June 21 1910 the Charleston Cens. Ry.,
Gas Sc Elec. Oo. Lease guar. 6 % on pref. and 4% to July 1 1911. 5% to
Jan. 1 1913 and 6 % thereafter on com. stock; also Int. on outstanding
bonds of the Char. Cons. Ry., Gas Sc Elec.
Rates.— As a result of a compromise with the city, cheaper gas, electric
light and power rates were put Into effect Nov. 1 1912. V. 95. p. 1206
Application fo r Rate Increase.— On April 1 1918 was auth. by the City
Council to Increase gas rates from $1 to $1 10 per 1.000 cu. ft.
Fares.— On May 14 1918 the City Council rejected the co.'s application
for auth. to increase fares from 5 cents to 6 cents.
STOCK—
Par.
Authorized. Outstanding. Dividends.
Common------------------------------ $50 $1,500,000 $1,500,000
None
500.000
500,000
None.
Preferred............50
OFFICERS.— Pres., P. H. Gadsden; V.-P., Walton Clark; V .-P., Lewis
Lillie; V.-P. & Asst. Sec., O. M . Benedict; Sec., G. W. Curran; Treas., I.
W. Morris: Asst. Sec.-Treas., M . O. O. Tessier: Aud., Chas. J. Bendt
V. 96. p. 862; V. 105, p. 1522. 2093; V. 106. p. 2227; V. 108. p. 877.
(1) Charleston Consolidated Ry., Qai & Electric Co.
As of Dec. 31 1918 the United Gas Impt. Co. owned $1,322,300 common
and $457,900 prof, stock.
ORGANIZATION.— Organized Feb. 21 1899 as a consolidation of the
Charleston City Ry. and Charleston & Seashore RR. under Special Act of
So. Car. Legislature, granting perpetual charter and gas Sc elec, light powers
In Oct. 1912 sold to James Sottlle the Seashore division, Incl. wharf nronertles, ferryboats, the railroad line from M t. Pleasant to the Isle of Palms
with Its equipment, and the power house on Sullivan Island. Sale was auth’
by an Act of the Legislature approved Feb. 12 1913 and formal transfer
was made Mar. 15 1913. V. 96, p. 862. See Charleston-Isle of Palms
Traction Co. below.
Franchises are,perpetual. Also owns the capital stock of the Charleston
Gas Light Co. ($698,150) and the Charleston-Edison Light Sc Power Co
($100,000). and thus controls the whole field of light and transportation
in onarieston. v •
p. o80*
On March 18 1914 shareholders authorized the Issue of $500,000 new com
mon stock. V. 98, P -999. 610. On March 19 1919 auth. common stock
was increased by 30.000 shares (par $50). the stockholders having the right
to subscribe pro rata until April 19 1919. V. 108. p. 1390
In Sent. 1918 it was stated that the co. would expend from $700,000 to
$750,000 to double the capacity of the Charlotte Street electric generating
station and for other Impts., the additional power to be used in furthering
essential war work. It was further stated that the War Industries Board
woidd finance expenditures to the extent of $350,000. V. 107, p. 1191.
InMarch 1919 we were Informed that the work was then In progress.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock, com. $4,500,000 ($50)...........
Q-J
$4,500,000 Sm text.
Pref 6 % cum, $500,000 ($50)...........
Q-J
500.000 See text.
Ch,
f I m mt« 0i 1898
5 8 J-J
710.000 Jaa 1 1923
($1,000). $850,000 goldctf/Int. at Merc. Tr. Sc S. D. Co..Balt.
Consol mtge, gold. $2,500.-1 1899
5 g M-S
1.749.000 Mar 1 1999
000. coupon ($1,000)-.*tf/Interest at Baltimore Trust Co.. Trustee
Holders can also collect coupons at Carolina Savings Bank and People’s
National Bank, Charleston, if presented before the 10th of the month.
[V ol . 109
ELECTRIC RAILWAYS
24:
Bonds.— O f the consolidated 5s, $710,000 are reserved to retire a like
amount o f C ity U y. first 5s. Charleston C ity 1st 5s have a sink, fund of
not exceeding $7,350 per ann. for the purchase or redem ption o f said bonds
at 105 and interest.
Dividends.— See dividends guaranteed under lease a b ov e.
R O A D , & c.— Owns 37.51 miles o f electric road in Charleston. T he com
pany has consolidated Its tw o power stations; both railway and light and
power divisions are being operated from same station.
O F F IC E R S .— Pres., Philip H . Gadsden; V .-P ., T h eo. W . Passailaigue;
Sec. & Treas., Chas. J. Bandt: Asst. S ec.-T reas., M O . O . Tessier, all of
C harleston. Offices, N o . 141 M eeting S t., Charleston.— V . 108, p . 1390.
C H A R L E S T O N -IS L E O F PA LM S T R A C T I O N C O .
O R G A N IZ A T IO N .— Incorp in S. C . Jan. 9 1913 with auth. capital of
$1.000.000, to build railroads, steam or electric, street railways, & c..
operate steam boats, and to take over what was form erly the Seashore
division o f the Charleston C onsol. R y ., Gas & E l. C o . A lso does electric
lighting business.
R O A D , & c.— Owns 10 miles from M t . Pleasant (connecting b y ferry with
Charleston! to Sullivan’s Island and Isle o f Palms, a pleasure resort on
the A tlantic C oast, incl. land at Isle o f Palms. Terry, pow er house od
Sullivan's Island and sub-station at M ou nt Pleasant. & c. Owns and oper
atea 19 pass, and 3 freight cars and 2 ferry b oats.
O F F IC E R S .— Pres., James Sottile; V .-P . & G en. M g r ., I . B lank.—
V. 96. p . 201. 8 6 2 . ________ ___________
C H A R L E S T O N /
W E S T '
V I R G I N I A .
C H A R L E S T O N IN T E R U R B A N R R .
O R G A N IZ A T IO N .— incorp. in 1909 with $100,000 capital stock which
■was increased on N o v . 10 1914 to $1,500,000 in part for the purchase of
the Charleston Traction C o ., a line from St. A lb iu * to South Charleston
tak en over as o f that date, and in part as a stock dividend, all earnings since
incorporation having gone into extensions and betterm ents.
Lease.— Leases the Kanawha Valley Traction C o. (whose $500,000 capital
stock is owned by the.O hio Valley E lectric R y .) for 99 years from Jau 1
1910 at an annual rental beginning with $10,000 the first year and In
creasing t o $20.000 in 1916 and thereafter, and has assumed that com p a n y s
1st M . bonds
__
.
.
,
Franchise o f the Traction C o . in the city o f Charleston expires in 1954;
Interurban lines are operated alm ost entirely on private rights o f way
In M a r. 1919 issued $450,000 secured notes to refund a like am ount of
1-year 6 % notes due at that tim e. V . 108, p . 1164.
8TO O K A N D BONDS—
Date.
Interest. Outstanding. Maturity
S tock $1 500 000 iS100)
- _________ $1,500,000 See text.
Secured notes (S500 & $ 1 .000) 11919
6 g M -S 1 5 t 450.000 M ar 15 1922
cold
c*tS afe D eposit & Tru st C o ., B altim ore, Trus.
Kan V a f f r 1st M. $2,000.0001 1906
5 g J-J
1.100,000 Jan 1 1946
($1,000) g o l d c __________ t f lin t , at Fidelity Trust C o .. P hila.. Trustee
Bonds.— Paym ent o f prin. and int. o f the Kanawha Val. T ra c. C o . bonth
has been assumed b y the Charleston Interurban R R . $600,000 o f the
bonds have been deposited as security for the notes Issued b y the Charleston
Secured b y deposit o f $600,000 (assumed) Kanawha Valley T rac
tion C o. 1st M . b onds. R e d ., all or in p a rt, at 100)4 and in t. on any int.
d a te upon 60 d a ys’ notice.
E A R N IN G S — Gross.
Net {after B ond.& c.
Balance.
Cal. Year—
Earnings.
Taxes).
Interest.
Rental.
Surplus.
1018
$578,189
$234,995
$114,116
$20,000
$100,878
1917
418 855
176 215
9 5 523
20,000
60,691
m e : : : : : : : : : : 326.149
162.602
88.812
20.000
53,790
R O A D .— Operates 40.5 miles o f track between S t. Albans and Cabin
C reek. Line Is to be extended to M on tgom ery, about 10 miles further on.
70 80 and 100-lb. T and girder rail. Standard gauge. 40 passenger cars
(all o f P -A -Y -E ty p e ), 5 freight cars and 2 trailers. Power is obtained from
the Virginian Pow er C o . under long-term contract.
O F F IC E R S .— Pres.. W . A . M acC orkle; V .-P . & Sec., F . M . Staunton;
T reas., A . M . H ill— V. 105, p . 1208; V . 106, p. 1125; V . 108, p . 1164.
C H A R L O T T E ,
N .
C .
S O U T H E R N P U B L IC U T IL IT IE S C O .
f
„
. .
Allied with the Southern Power C o ., which see in our R ailw ay and In
dustrial” Section.
O R G A N IZ A T IO N .— Incorp. in July 1913 in M aine as a consolidation
Of the C harlotte Electric R y .. Charlotte Gas & E lectric C o. and Charlotte
Power C o. (these three form ing prior to Jan. 1 1911. the C harlotte Electric
R y ., Light & Power C o ., which com pany issued the bonds shown in the
table.— See "E lectric R y ." Sec for M a y 1915); Greenville (3 . O .) Gas A
E lectric Light & Power C o .; Greenville Traction C o .; Greenville CaroHna
Power C o .; Fries M fg . & Power C o ., W inston-Salem . N . C .; W inston-Salem
P ow er C o .; Anderson (S. C .) W ater. Light & P o w e r C o .. Chester■ (9 . C .)
p ow er C o ., Thom asville (N . C .) Power C o .. Greer (S. CO Light & Power
C o .. T hornton Light & Power C o ., (H ickory. N . C .) and C ity o f Reidsville
Light & Power Plant, Reidsville, N . C . The Charlotte E lec. R y . in M a y
1915. through an amendment to its charter, reduced its capital stock rrom
$1,250,000 to $1,000.
, , ,
Franchises with one m inor exception are either unlim ited in tim e or run
bep a r ^ Increased— In A ug. 1918 was auth. b y the N orth Carolina C orpora
tion C om m , to increase fares from 5 to 7 cents on lines in Charlotte anu
W inston-Salem . V . 107, p . 502. In Sept. 1918 the municipalities o f
Greenville and Anderson, S. C ., also auth. an increase in fares from 5 to 7
cents (or 4 tickets for 2 5 c), effective O ct. 1 1918.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $6,000,680 ($100)............- ..............................
$6,000,000
1st & ref M $30,000,000 g o ld ! 1913
5 g J-J
4,487.000 July 1 1943
($ l,0 0 0 .$ 5 .0 ® 0 .* c.)c* & r* .tf JInt. at Farm ers’ L . & T r. C o ., N Y . . Trustee
C h a r l^ r c ^ iy ^ L ^ & l1 1st M l 1899
5 g J-J
313.000 July 1 1929
$506,600 g ($1,000) sf c * n t f lin t , at M erc. T r. Sc D ep . C o..^Balt.,/Tru«tjw.
Char E lec R y , L & P r e f f c ext\ 1906
5 A -O
452,000 A pril 1 1936
M $2.600.000g ($ l,0 0 0 )c * t ffln t . at M erc. T r. Sc D ep. C o .. B alt..T rustee.
Fries M fg & P 1st M g old l 1900
5 g J-J
456.060 Jan 1 1940
($1,000) optional at 110___j l n t . at E quitable T r . C o .. N . Y . , trustee.
Anderson W ater L t & P C o . . --------------------249,500 -----------------W inston-Salem Power C o --------------------------54.000 — -----------Bonds o f Controlled. & c.. Cos.—
__
.
G reenv-C aro Power 1st M g l 1905
5 g M -N
265,000 M a y 1 1935
($1,000)
_____ ________ t f / l n t . at Old C olon y T r. C o .. B oston , trustee
Bonds.— O f the 1st and ref. bonds. $1,567,500 are reserved for prior liens;
remainder issuable for 7 0% o f cost o f extensions and acquisition o f other
properties. Redeemable In whole or In part at 105 and interest. The
Charlotte Electric R y .. Light
Power 1st M . bonds have a sinking fund.
operative July 1 1960, o f 1% o f bonds out: to be Invested in bends drawn
b v lot at 107)4 and int., if not obtainable at lower figure In open market;
$57,000 have been canceled. T he ref. and ext. m tge. bonds have a sinking
fund operative April 1907 o f 1 % o f bonds issued, for purchase o f bonds at
107)4 and in t.. If obtainable: otherwise, such investments as trustee deems
proper. V . 88. p . 1252. $33,000 have been retired. A sinking fu n d of
1 % on the Greenville-Carolina Power C o . bonds began M a y 1 1910.
E A R N IN G S .— F or years ending D ec. 31:
Year—
Gross. Net,aft.Taxes. Deprec. Bond Int. Bal.,Sur.
1 9 1 8 . . . ...................... $2,501,762 $851,046 $171,000 $316,860 $363,186
1917............................. 2,108.251
874.821
209.000
311,710 354.111
P R O P E R T Y .— Operates 70 miles o f street railway; 60, 70 and 90-ib. T
and girder rails; gauge. 4 ft . 8)4 In. Power and light primary linos aggrerating 1,644 miles and serving 16 com m unities; 2 gas plants, serving Charobte and Greenville with 87.5 miles e f mains; water plant serving Andersen
with 26 miles e f mains. Leases Savannah Power C o. s plant near Anderson;
cap acity. 3.000 h .p . T otal capacity o f plants operated, 24.000 h .p ., ef
which 19.000 h .p . is hydro-electric generation. Also has favorable co n
tract with Southern Power C o . for the purchase o f additional pow er.
O F F IC E R S — Pres. Z V . T aylor: V .-P . A V . Hvrrill:
W . O.
Parker: A sst. S ec., J. R . Cherry: T reas., E . C . M arshall: Gen. M g r., E . F.
T a ylor!— V . 97. p . 241 .18 0 ; V . 101. p . 1886; V . 104, p . 1046; V . 107. p . 502-
Sc
f
PIEDMONT & NORTHERN RV.
O R G A N IZ A T IO N .— Incorp. on Feb. 24 1911 in South C arolina, and on
or about July 1 1914 took over the properties o f the Piedm ont T raction C o .
and the Greenville Spartanburg & Anderson R y. C o. T he system as pro
jected is to extend from D urham , N . C ., to Greenwood. S. O , 320 m iles.
Power Is obtained from Southern Power C o ., which Is controlled b y the
same Interests.
Government Control.— This property cam e under Governm ent control
under the President’s proclam ation o f D ec. 28 1917. V. 105, p. 2509.
E . II. C oopm an was subsequently appointed Federal M anager and E . F
Parham . Federal Treasurer.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. M aturity.
Stock $15.au0.000 ($100)________
. . . . . . . . . $8,581,690
First m ortgage $ 50 ,000,000 1914
5 g J-J
'
36.000 July 1 1954
($1,000), g o ld ______ c* n t f In t. at Farmers’ Loan & Tr. C o ., N . Y ., trus.
1st M coll notes $8.500,060 1914
5 g J-J
6.286.900 July 1 1919
g (SI
..
. . . ..000 & S109). not inter Int. at Farmers’ Loan it T r. C o .. N . Y ., trus.
— $1,415,400 additional stock is held In treasury.
Bonds.— $10,000,000 are pledged as security for the $8,500,000 notes.
R ed. at option o f e o .. In whole or part, any int. date since July 1 1914 at
105 and int. O f the notes $500,000 are pledged as collateral and $1.713.100
are held in treasury: those reported outstanding, it is stated, have been
taken privately b y the subscribers to the road.
E A R N IN G S .— For cal. years (1917 report in V . 107, p . 78):
Cal.
Gross
Net {after
Other
Interest,
Balance,
Year—
Earnings.
Taxes).
Incom e.
A c.
Surplus.
$589,291
$8,360
$339,814
$257,836
1 9 1 7 --------- $1,523,674
1916
1.224.159
518.595
9,653
346,023
182,224
Passengers carried in 1917. 2,341,334; in 1916, 1,467,358; revenue tons
carried, 754,386 in 1917, against 717.296 in 1916.
R O A D .— Owns and operates 23)4 miles from C harlotte to G a ston ia ,
89.90 miles Spartanburg to G reenwood, S. O ., with branches from Belton
to Anderson, 11.30 miles, and from Belm ont Jet. to B elm ont, 3.19 miles
(opened M arch 1 1916). total mileage o f track operated, inch spurs and sid
ings and 10.50 miles operated under contract, 204.69. T w o arm y training
camps were located on the com p a n y’s lines during 1917— C am p Sevier,
5 miles north o f Greenville, S. C ., and C am p W adsw orth, 5 miles south o f
Spartansburg. Equipm ent consists o f 23 m otor-driven passenger cars; 16
trailers, 2 observation parlor cars, 8 baggage and express cars, 157 freight
cars, 3 street cars, 12 electric and 1 steam engine and 10 work cars.
O F F IC E R S .— Pres., J. B. D uke. N . Y .; V .-P ., W . S. Lee; V .-P . &
Gen. M g r., E . Thom ason; Sec., N . A . C ocke; A ud. & T reas.. T . L . B la ck ,
all o f C harlotte.— V . 105. p . 2366, 2453; V . 107, p . 78, 502, 1837.
Stock.
C H A R L O T T E S V I L L E ,
V A .
CHARLOTTESVILLE & ALBEMARLE RY.
O R G A N IZ A T IO N .— Organized in Virginia and form ed b y an agreement
o f consolidation dated N o v . 24 1913 between the Redland P ow er C orpora
tion and the Charlottesville & A lbem arle R y . A lighting and power com
pany with a short Interurban railway as an adjunct. Light and power fran
chises are perpetual; C ounty R y . franchises are perpetual, while city fran
chise expires In 1944.
Fare Increase.— On A pr. 16 1918 was auth. b y the V a. Corporation C om m ,
to eliminate the 6-for-a-quarter tickets and to increase children’s tickets
from 2)4 cents to 3 cents. V . 106, p . 1688.
STOCK AND BONDS—
Date.
Interest. Outstanding.
M aturity.
Com m on stock $500,000 ($ 100 ) ..................................
$500,000 J uno’ 1 9 .2 %
Pref stk 7 % cu m $ 2 00 ,00 0 ($1 0 0 )____
J -D
122.700 June T 9 .3 ) 4
First m ortgage $750,000 goldl 1915
6 g A-O
381.000 April 1 1943
1-000) -----------------------c* cp tfIn te re s t payable in B altim ore, M d .
Bonds.— Additional bonds m ay be Issued only for 8 5 % o f cost o f Im pts.
and exts. ana only when net earnings for the past 12 months are eauaJ to
twice the Interest charges on the bonds outstanding and those to be Issued.
A special depreciation and reserve fund Is provided out o f gross earnings
for m am t., Sec. $19,000 (not incl. in am ount outstanding) are held in
thetreasu ry. Red. at 105 and int. on 60 days’ notce . V . 100, p. 1436.
u w a e n a s .— 7 % per ann. is being paid on pref. stock . On com m on first
div- o f 2 % and 1% extra paid in June 1916. In D oc 1916 paid 2 ) 4 % .
In 1917, June, 2 ) 4 % ; D ec., 2 % . In 1918, D e c.. 1 % . In 1919, June. 2 % .
E A R N IN G S .— For years ending D ec. 31:
Year—
Gross.
Net.
Other Inc\
Chgs.
Pref. Div. Surplus.
1918-------$122,231
$53,203
$757
$32,031
$8,589
$13,340
60.279
264
29,236
1 9 }7 ---------120.120
8.589
22,719
1916---~ 114..819
63.600
495
28.072
8.589
27,434
R O A D .— M iles or track, 3.45: standard gauge. Rails, 83-lb. girder’and
o0-lb. T . 12 cars. 1 power station.
O F F IC E R S .— P res., N orm an James; V .-P ., John L . Livers; Sec. Sc
T rea s., W . R . M o rto n .— V . 103, p . 2428; V . 106, p . 606, 1688, 2289,
C H I C A G O .
I L L .
AURORA ELOIN & CHICAGO RR.— Third-rail electric and trolley.
Receivership.— On A ug. 9 1919 Judge E van A . E vans o f the U . S. Circuit
C ourt at Chicago appointed Joseph K . Choate receiver for the co . on appli
cation o f the General E lectric C o ., holder o f a bill for $3,216, which it
alleges it was unable to collect. T w o other creditors for smaller amounts
join ed in the petition. I t was also set forth in the petition that the co .
had defaulted on $38,650 gold bonds due the C ont. & C om m . Trust & Sav
ings Bank, C hicago, June 1 1919, and the interest due M arch 1 1919 on a
d ebt o f $45,713 owing a Cleveland bank. It also stated that $76,975
m tge. bonds had been defaulted. V . 109, p . 675.
O R G A N IZ A T IO N .— Is a consolidation in April 1906 o f the Aurora Elgin
Sc Chicago Railway, the Elgin Aurora Sc Southern T raction O o. and the
C ook C ounty & Southern R R . V . 82, p. 279. 691, 1155. Chartered in
Illinois under law applying to steam railroads. Pres. L . J. W olf. In a letter
dated M ay 20 1909 (V . 88 , p. 1618). stated that system is "In the main en
private right o f way or protected by 50-year franchises or grants without
lim it." Does freight and express as well as passenger business. V . 83,
p. 490. Has exclusive contract with the M etropolitan W est Side Elevated
to operate qyer its tracks.
Stockholders voted O ct. 18 1910 to purchase the C hic. W heaton Sc W est
ern R y .. which runs from W estrfhle to Geneva, a bt. 10 miles. V. 91. p .517
Fares.— On Feb. 1 1918 the 111. P . U . C om m . auth. an increase in fare o f
5 cents on the c o .’s lines between Aurora and C hicago and between Aurora
and B atavia, and a straight 5-cent fare within the city limits o f Aurora
and Elgin. V . 106, p. 714. On July 5 1918 fares in Aurora and Elgin were
increased to 6 cents. A t the same tim e lighting rates wero increased 2 5 % ,
power rates 33 1-3% and freight rates 2 5 % . V . 107, p . 905. In Sept. 1918
an increase o f 2 5% in passenger rates was auth. b y the I.-S . O. C om m .
V . 107, p . 1098. In Sept. 1919 applied for auth. to increase faros in Elgin
and A urora from 6 to 8 cents.
Interest Payments.— T he July 1 1918 interest on the $3,079,000 1st &
R ef. M . bonds was paid O ct. 15 1918. V . 107, p . 1579. C om pare V . 106,
p. 2648. T h e Jan. 1 1919 interest on these bonds has been deferred on a c
cou n t o f Increased operating expenses. T he m anagem ent has expressed
the b elief, how ever, that with a readjustm ent o f suburban rates the com
p a n y will be restored to its pre-war condition. V . 107, p . 2374. T he July 1
1919 int. on these bonds has also been deferred. V. 108, p . 2628. Tho
D ec. 1 1918 in t. on the $1,546,000 Elgin Aurora & Southern T raction C o .
1st M tg e . 5s is also in default and the holders o f the $1,219,000 3-year
7)4 % notes were notified that the M arch 1 1919 int. due thereon would not
b e paid. V . 108, p . 971. T he Int. duo A pr. 15 1919 on the $2,647,000 A . E .
6
R y . 1 st M . 5s o f 1901 was paid in July 1919, together w ith int. on the
deferred paym ent to July 5 1919. V . 109, p . 71. T he following com m ittee
has called for deposits o f the 1st & R ef. 5s and the 3-year notes:
for lsl & Ref. 5s and 3-Y ear
Tr. 7 )4 %
— C hairm an.
R M . Stinson; G eo. H . Stuart, Lewis B . W illiam s, W . T . G oodale, A . B .
Oonant; S ecy., A . E . Pfahler, 319 N orth Am erican B ld g ., Phila., Pa.
Depositaries; Girard T ru st C o ., P hila.; Internationa] Trust C o ., Boston;
C itizens’ Savings & T ru st C o ., C leveland, O . V . 108, p . 9 7 1 .2 0 2 1 .
F in a n cin g — In A u g. 1918 the co . created a new issue o f $1,219.000 3 -yr.
7 )4 % C oll. T rust notes dated S ept. 1 1918, secured b y 1st & R ef. M . bonds
at 75 and the W ar Finance C orp . agreed to loan the co . $219,000 provided:
(1) T h a t the m aturity o f the $1,546,000 outstanding Elgin Aurora & South
ern T ra ction C o . bonds be extended from June 1 1919 to Sept. 1 1921.
(2) T h a t the banks holding the c o .’s $237,500 unfunded notes subscribe for
$ 200,000 o f tho new 7 )4 % notes at par and accept the co . s unsecured notes
for the balance. (3) T hat the holders o f the $800,000 6 % C oll. T rust notes
m aturing Sept. 1 1918 exchange their notes, par for par, fo r the new 7 )4 %
notes. V . 107, p . 905. In M arch 1919 we wero Informed that this plan
o f financing had been carried o u t.
<5.
Committee
Coll.
Notes.
Noy., ’ 9 9.]
ELECTRIC RAILWAYS
Litigation.— On Jan. 23 1919 the co . brought suit in the U . S. D ist. Court
at C hicago against the 111. P . U . C om m ., seeking to enjoin the Comm ission
from enforcing its order fixing 2 cents per mile as the maximum faro.
V. 108, p. 478. On Feb. 6 1919 Judge Landis in the U . S. D istrict C ourt
at C hicago agreed to grant an injunction restraining the P. U . C om m ,
from enforcing the 2-cent fare limit, but in June 1919 ordered that the rate
o f fare be 2 cents per m ile for round-trip tickets. V. 108, p . 2329.
Strike.— V. 109. p . 476. 675. 774.
STO C K A N D BON DS—
Date.
Interest. Outsfd'g. D ie. A due date
C om m on. 53.10 ,000 ($100)..............
Q-J
$3,100,000 See text.
P ref $3,100,000($100) 6% c u m ____
Q-J
3,109,000 See text
First and refunding m ortgagef 1906
5 g J-J
3,079.000 July 1 1946
$15,000,000, gold ($1,000) (I n t . at C it. Sav. & T r. C o .. C lev e., and also
See text__________c* & r* tf 1 in N . Y . Trustee. N orth T r. C o ., Chic.
Coll trust notes.............................1918
7H%
1,219,000 Sept. 1 1921
A E & O Rv flr*t m ortgage! 1901 5 e A-O 15
2.527,000 A pr 15 1941
83,000,000 (81,000), g o ld iC o n t. & C om m . T r. & S a x .Ilk ..C h ic., Trus
cannot be called
____tf (Interest payable In Chicago and N ew York
Elgin Aurara A Sauthern first ( 1901
5 g J-D
1,548.000 Sept. 1 1921
m tgo., $2,000,000 (81 000) (In t. at C ont. & C om m . T r. & Sav. B k ., Chigold, sinking fu n d __ c * t f (.
cago, Trustee, and First N at. B k ., N .Y .C .
— Pref. stock was 5 % cum . until April 1 1909; since 6 % cum
— o r the $15,009,000 (originally $25,000,000. but rednced in 1910)
1st & ref'g bonds, $1,659,000 a rein trea s., $4.135,000 reserved for prior liens
and the balance for im provem ents, extensions aud self-supporting acqulsl
tions under rigid restrictions. T hey are not subject to call now. See V.
88 p . 1618. Collateral trust notes are secured by deposit o f $1.656,000 1st
and ref. m tge. 5 % bonds. On the Aurora Elgin
C hicago R y . bonds a
sinking fund o f 850,000 per ann. began on April 15 1911. See V . 74, p . 726.
$473 000 have been retired. T he E lgin Aurora
South, bonds originally
matured June 1 1916 but were extended to Juno 1 1919 and again to Sept. 1
1921; remaining $454,000 held in sinking fun d. V . 108, p . 2122.
.— First dividend on pref. —
% — paid July 1906 (V . 82. p.
1436). and the same amount quarterly up to and including April 1909.
July 1989 dividend increased to I H % and same am ount paid quar. to
A ug. 1 1915. Oct. 1915 d iv. om itted (V . 101, p. 1012) and none paid since
On com m on, first dividend— % % — O ct. 7 1907. In 1908 to 1913, incl.,
3 % vearlv. In 1914. Jan.. % % ; April, % % ; J u ly,
O ct. d iv . deferred
(V . 99, p. 894. 968). and none paid since.
R E P O R T .— For year ending D ec. 31 1918 (V . 109. p . 369):
•
Gross
N et (after Other
DeducBal.. Surp.
Year ending—
Earnings.
Taxes). Incom e, tions.
fo r Year.
D ec. 31 1918......... - 82,140,355 $262,672 $125 $516,706 def.$253,90S
D ec. 31 1 9 1 7 ........... 2.159,349
595,449
193
502.546
93.096
R O A D .— Operates from 5th A ve. station in C ity o f C hicago, over tracks
o f M etropolitan West Side Elev. road, to 52d A v e ., Chicago; thence on its
own lino to W heaton, with lines from W heaton to Elgin, ilatavia, Geneva
and Aurora; also from Elgin to Carpentersville, Dundee, St. Charles
Geneva. Yorkville and Bristol, and a line from W heaton through W est Chi
cago to Geneva
Total single track. 169 miles. Third rail, standard T ,
100 lbs.; track rails, 80 bs.; interurban and city lines, 6 0 -1 0 0 -lb .T and girder
rails; 142 passenger cars; 7 express cars; 6 snow plows and sweepers; 7 misc.
cars; 47 freight cars; total cars, 210.
O F F IC E R S .— Pres.. L . J. W olf, Cleveland; V .-P .. M . J . M andelbaum
V .-P . and Gen. M g r. (also Gen. M gr. for tho R eceiver); Edwin C . Faber,
"Wheaton, 111.; Sec. and Treas., II. C . Lang, Cleveland; Asst. Sec., A . Born;
A sst. Treas., H . J. M anning. Executive offices. Guardian B ld g., Cleve
land, O .— V. 108, p . 577, 682, 971, 2021, 2122, 2329, 2628; V . 109, p . 71,
369, 675, 774.
_______
Stock.
Bonds.
ft
ft
Dividends
lbi
C H IC A G O SU R F A C E LIN ES.
Under the title o f Chicago Surface Lines the properties o f the C hicag*
Railways Co and the Chicago C ity Railway C o. are now being operated
as a single system under the control o f a joint board o f operation in accord
ance with an agreement between the tw o companies and the unification
ordinance which became effective Feb. 1 1914. While under the terms of
this ordinance and the agreement the ownership o f the properties remain*
entirely separate and distinct, tho com bined earnings are divided upon an
agreed barns. For the two years ending Jan. 31 1916 the C hicago Railway*
C o. received as its share 59% o f the incom e remaining after the p a y
ment o f all operating expenses. Including taxes and maintenance, the other
41% o f the income going to the Chicago C ity R y. C o ., including the
Calumet & South Chicago R y. and the Southern Street R v ., and, begin
ning with Feb. 1 1916 and until the expiration o f its franchise in 1927, th*
Chicago Railways C o. will receive 6 0% o f the so-called "residue receipts,"
and the Chicago C ity R y. (including the Calum et
South Chicago and
the Southern Street R y .), 4 0 % . The plan provides for a 5-cent far*
throughout tho city on surface lines, also through routing o f cars from out
division o f the city to another. See details o f the ordinance and thr
agreement for unified operations under date o f Dec. 1 1913 in V . 93, p
1693. An order permitting the State A ttorney to file quo warranto p ro
ceedings to question the legality o f unification ordinance was denied in
March 1915
V. 100. p. 1078.
Statement Shoioing Shrinkage in Market Value o f Securities.— See V. 108,
p . 1822.
Ordinance to Unite Surface and Elevated Lines.— See remarks under
Chicago Elevated Railways.
ft
the
■ V O T H L ________ _______ „ ________
regardless o f the provisions o f the contract ordinances o f 1907 between the
C hicago C ity Council and the surface lines. Pursuant to this opinion a
decree was entered by the C ircuit C ourt o f C ook C ou n ty in fa vor o f the
C om m ., which was affirmed b y the III. Supreme C ourt. A n appeal taken
to tho U. S. Supreme C ourt is still pending.
Fares.— In N ov . 1918 the cos. applied for auth. to increase fares to 7
cents. On April 25 1919 the 111. P . U. C om m , denied this petition. V . 108,
p . 1822. The co. filed a new petition, how ever, and on A ug. 6 1919 the
C om m . auth. the co. to charge a 7-cent fare effective from A ug. 8 1919 to
F eb . 1 1920. V. 109, p . 577. Results o f increase, see V . 109 o 1179.
Strike— V. 109, p . 477, 577.
’ P
R E P O R T .— O f entire system for years ending Jan. 31:
Year ending
Gross
Operating
------- Of Which to------_Residue
. Jan. 31—
Earnings.
Expenses.
Rereints
N.Ri y., Chic. Rim..
Receipts. rhe*
C h ic.C
1918-19.........$34,710,098 $25,731.937
$ 8 ,9 7 8 ,1 6 1 S 3 .5 9 1 .2 6 4 $ 5,386,S 97
1917-18______ 35,114,633 23,101,696
1 2 ,0 1 2 ,9 3 7 4 .8 0 5 ,1 7 5
7 ,2 0 7 ,7 6 2
1916-17______ 34,789.636 21,743,523
1 3 ,0 4 6 ,1 1 3
5 .2 1 8 .4 4 5
7 .8 2 7,66 5
1915-16........... 31.690,761 21.041,356
1 0 .6 4 9 ,4 0 5 4 .3 6 6 ,2 5 6
6 ,2 8 3 .1 4 9
Board o f Operation.— Chairman Henry A . Blair. Leonard A . Busby
Charles O. Adsit, Wallace Heckm an, Harrison B . R iley , John M . Roach
Frank O. W etm ore.
.
Executive Committee.— Leonard A . B usby. Chairman: H enry A . Blair.
O F F IC E R S .— Pres., L . A. B usby: Sec. ft Asst. T reas., F . D . H offm an;
T reas., M . B . Orde; Gen. A u d ., Jno. J. D u ck.— V . 107 n 2187- V 108
p . 683, 1822, 1936, 2122; V . 109, p. 172. 270, 477, 577, 1179.
'
C H IC A G O C IT Y & C O N N E C T IN G R V S .— A collateral trust.
Ordinance to Unite Surface and Elevated Lines.— See “ C hicago Elevated
R y s ." below.
Formed in 1910 under a trust agreement, to take over the stock o f the
Chioage C ity R y ., together with the securities o f the Calum et ft South
C hicago R y ., the Southern Street Railway, the Ham m ond W hiting & East
C hicago R y. and the Chicago & W estern. These properties com prise ap
proxim ately 510 miles o f street railway In southern division o f Chicago
and vicinity. See outline o f plan in V . 90. p . 558, 625. Trustee. Chicag*
T itle & Trust C o.
On April 19 1913 the 111. Supreme C ourt affirmed the decision o f the
Superior Court o f C ook County In the suit brought by Clarence H . Venner
which hold valid the agreement dated Jan. 1 1910, creating the Chicago
C ity and Connecting R ys. Collateral Trust (V . 96, p. 1364, 1627). An
appeal was takes to the U . S. Supreme C ou rt, but in N o v . 1914 suit was
dismissed. See "C h ic. C ity R y .'1 in V . 99, p . 1527.
S T O C K A N D B O N D S — Date. Interest.
Outstanding.
Maturity
C om part certs 150,000 shares. — - s-a
150.000 shs.
See text.
Pref part certs 256.000 s h a r e s .____
s-a
250,000 shs.
See text.
C oll trust mtge $22,000,0001 1910 5 A-O
$21,351,000
Jan 1 1927
gold sinking fund c * & r * t f/I n t . at 1st T r.& S .B .C h ic., T ru s., or in N . Y.
Participation Certificates.— Preferred participation shares have no par
value but are entitled to preferential cum . divs. aggregating $4.50: also,
after com . partlc. shares shall have received $4 In any year, the remaining
surplus, not exceeding in any year $1,000,000, shall be paid ratably. % to
2 5
pref. and % to co m ., but in no case will the pref. certfs. be entitled to m ore
tbau S7 each per annum; also have preference upon distribution o f trust
fund to the am ount o f $100 each and accumulated dividends. Listed on
C hicago Stock Exchange. In D ec. 1918 the d iv. due on the p ref. p artic.
certs, was deferred. V. 108, p. 263, 267. N o t paid to Sept. 5 1919.
Bonds — Coupon bonds in denom . o f $1,000; registered bonds $1,000 or
multiples. A sink fund o f $105,000 o f bonds p. a. began M ar. 1 1915.
Bonds are redeem , fo r the s. f., or as a whole, at 105 and int. $649,000 re
deem ed as o f Sept. 1 1919. In case o f purchase o f property o f the C hicago
C ity R y b y C ity o f C hicago, or termination o f trust agreement » f Jan. 1
1910, then bonds are redeemable at par and accrued int. See V . 90, p. 558,
625. Bonds are ILsted on N . Y . and Chicago stock exchanges. V .94,p .1118
Stocks and Bonds Deposited to Secure the Coll. Tr. Bonds.
Stocks (par).
a Bonds (par)
N oa e
C hic. C ity R y ............. ................................ $16,971,900
-------------Calum et ft South Chicago R y ------------- *10.006,000
Southern Street R y ___________________ *2,460,000
---------- -Ham m ond W hiting ft East C hic. R y — *1,000,000
*1.000.000 1st 5»
Chicago & W estern____________________
*72,000
-------------T o t a l ....................................................... $30,443,900
$1,000,000
• Entire Issue.
.
_
_
a Under provisions o f the trust mortgage these respective issues o f bonds
each as an entirety may be converted into capital stock o f the respective
companies to an equal am ount.
Dividends.— On pref. part. ctfs. $2.25 per share was paid sem i-an.
from June 1910 to and incl. July 1914. In 1915. $2 50. In 1916, $1 75.
In 1917, Jan., $2 25 (V . 104. p. 72): July. $1 50. In 1918. Jan.. $1 50.
N on e since; V . 106, p . 2755; V . 108, p . 77. On com m on participating ctfs.
$1 per share was paid semi-annually from June 1910 to and including
July 1912. N one since.
R E P O R T .— F or calendar year 1918 (V . 108, p . 479):
C a l . ---------------- Incom e---------------Bond
Bond
Other D ivs. on Surp.
Y r.
Divs.
Other.
Gross.
Interest. Redemp. D ed. Part.Shs. In c.
$
$
S
$
$
$
$
$
1918.1,127,595 158,180 1.285,776 1,072,815 105.000 79.798
N one 28,163
1917.1.916.831 124.020 2.040,851 1,078,315 105,000 81.346 750.000 26,190
1916.1.979.751 120,918 2,100.669 1.087.209 105.000 71.935 812.500 24.022
Committee.— Chairman, Harrison B. R iley, S. M . Felton, James B . Forgan, John J. M itchell, Samuel Insull, John A . Spoor, B . E . Sunny. Frank
O. W etm ore and L . A . B usby
O F F IC E R S .— Sec. ft T reas.. W . W C raw ford; A u d .. W . W . H ill.—
V . 107, p . 1286; V . 10S, p . 77, 263, 267, 479, 1164; V . 109. p . 1079.
(1) C h ic a g o C ity R a ilw a y .— An electric road.
XTnifird Ovcratinn o f Surface Lines.— See "C h icag o Surface Lines” for
details o f unification ordinance under which the lines o f this com pany
are operated join tly with those o f the C hicago Railways C o . as a single sys
tem under the control o f a joint Board o f Operation. For plan to unite the
surface and elevated lines see “ Chicago Elevated R y s .”
O R G A N IZ A T IO N .— Incorporated in Feb. 1859. and has extensive sur
face road privileges in the south division o f C hicago. Has a contract ex
piring Jan. 31 1927 with the Com m onw ealth-Edison C o ., for the supply o f
its entire power requirements. The railway has abandoned its producing
__ ,
plants but retains its distributing plants.
New Ordinanres and Franchises.— On Feb. 4 1907 the C ity Council passed
ordinances providing for a settlement o f the franchise question. These
ordinances were approved at the city election on April 2 190/ ana form ally
accepted by the com pany's board o f directors on April 15 1907. Suit to
set aside franchise was dismissed In April 1912. V . 94. p. 1118- An ex
tended outline o f these ordinances, one to the Chicago C ity Railway C o .,
and covering the lines operated by that com pany, and the other to the Chi
cago R ys. C o ., and covering the lines o f the form er Chicago Onion Traction
C o. (now the Chicago Railways C o .), was given in V . 84, p. 1123. T he value
o f the tangible and intangible property o f the Chicago C ity R y. at date of
the ordlnanees was fixed at $21,006,000. T he city or any com pany au
thorised by it Is given the right on Feb. 1 or A ug. 1 o f any year, on six
m onths’ notice, to purchase the entire property o f the two system s, or either
of them, at their value at date o f ordinance, plus "th e cost of rehabilitation
and extensions, including fair allowances for construction, profit and
brokerage". But if the properties are acquired for operation by a pri
vate corporation, for its own profit, the purchase price is to be increased
20% — barring the case o f a private com pany which might be willing to
turn over to the citv all profits above 5% on the cost o f the Investment.
The companies are limited during their operation to an interest return
of 5 % upon the agreed value plus the cost o f rehabilitation and exten
sions. All net profits above this are to be divided on the basis o f 55%
to the city and 45% to the com panies, but a deficit In any year is to be
made good out o f the profits o f subsequent years. After April 15 1910 the
companies are required to set aside 6 % o f the gross receipts for m aintenance
and repairs and an additional 8 % o f the gross receipts to cover renewals
and depreciation. W hatever portion o f the tw o funds Is not used remains
In the funds and passes to the city or its licensee upon purchase. B ut if
the tw o funds are not sufficient for the purposes nam ed, the com panies
are obligated to supply additional funds. T he franchises granted b y the
ordinances run until F eb. 1 1927. Purchase price o f the property Jan. 31
1919. $53,741,634.
,
J
On Jan. 29 1912 C ity Council passed an ordinance providing for the ac
quisition bv Chicago C ity R y . o f city lines o f the Chicago ft Southern T ra c.
C o. V . 94, p. 349, 629. T h e latter was sold at foreclosure in F eb. 1912.
The lines outside the city were taken over b y the C hic. & Interurban R y .
Decision as to Regulation.— See “ C hicago Surface L in es."
P.
U . C om m , has auth. the co . to issue $2,000,000 additional bonds fo r
im pts., & c.
STOCK A N D BONDS—
Date.
Interest. Outstanding. LastDiv..&e.
Stock. $18,000,000 (S100).............. .. T e x tQ -M 3 0 $18,000,000 June’ 19, 1H
let m tge ($1,000) g - - c * & r * t f f 1907
5 g F-A
33.900.000 Feb 1 1927
(First Trust ft Sav. B k .. t’ hicago. Trustee.
Notes payable Jan 31 1919— ------------------1,700,000 ___________
donas.— There is no limit to the am ount o f bonds that m ay be issued
>under the a bove m ortgage. Under the C hicago city ordinance, in case o f
1purchase b y the city or its licensee, and only in such case, the bonds m ay be
called as a whole, for paym ent at par and in t.. on any int. date before ma
turity. V . 84. p. 1488. 1550. Bonds are listed on C hicago Stock Exchange
(V . 98. P- 386).
D IV ID E N D S .— In 1893, 2 4 % ; 1894-1900, 1 2 % : in 1901. 1 0 H % : in
1902-09, 9 % : in 1910. 1 6 % ; in 1911, 1 U 4 % ; In 1912. 1 1 % : In 1913. 1 0 )4 % .
in 1914, 9 % : in 1915, 8 % : in 1916, 9 1 * % : in 1917. 8 % and ?* % extra in
D ec. In 1918, M a r., 2 % ; June, 2 % ; S ept., 1 % : D ec. d iv . om itted .
(V . 107, p . 2475.) In 1919. M arch, U i % l June, \ M % . V . 108, p . 2628.
R O A D , Stc. (incl. Southern St. R y .) .— C om pany owns 332.37 miles o f
single track, all now operated by electricity. System covers the South Side
of C hicago, extending from the centre o f the business district south to 79th
Street and between the South Branch o f the C hicago R iver and the Lake
R E P O R T .— For 12 m onths ending Jan. 31 1919. see V . 108. p . 1157.
T he com bined results o f the "C h ica g o Surface Lines” under the U nifica
tion Ordinance, which went into effect F eb. 1 1914. were: Gross, $34,710,
09S: operating expenses, $25,731,937; residue receipts, $8,978,161.
Incom e Account Chicago City Railway.
1918-19.
1917-18.
1916-17.
Proportion o f residue receipts------------ *$3,591,264 *$4,805,175 *$5,218,445
Joint a cc’t exp. int. on ca p . inv. and
South St. R y . net earnings________ 3,580.614
3,661,806
3,616,023
N et earnings.................
$10,651
$1,143,369 $1,602,422
C ity 's proportion (5 5 % )...................
5,858
628,853
881.332
C om p any’s proportion (4 5 % ) ________
4,792
514,516
721,090
Interest on ca p ita l.x .............................. 2,668,657
2,623,510 2,558,167
Incom e from op era tion _____________$2,673,450
$3,138,026 $3,279,257
Other incom e_________________________ def.72,047
58.358
88,244
N et I n co m e _________________________ $2,601,404
$3,196,384 $3,367,501
Interest on b o n d s . . . ............ ....................$1,755,217
$1,695,000 $1,617,791
D ividen ds................................................... (5)900.000(8)1.575.000(9 1 0 1 665000
B alance....................................................def.$53,813 def.$73,615 sur.$81,710
* Representing 4 0 % o f residue receipts.
x T he “ interest on capital Investment” is that certified b y board or
supervising engineers, as provided b y the ordinance o f F eb. 11 1907.
O F F IC E R S .— Chairman E x. C o m ., and Pres. L . A . Busby; Vice
Pres., H . B . Flem ing; Sec. ft T reas., F. D . n offm a n n : A n d ., John
J. D u ck .— V . 107, p. 1286, 2475; V . 108, p . 1157. 1104, 1822, 2628.
26
ELECTRIC RAILWAYS
[V ol
109.
STOCK AND BONDS—
Date.
Interest. Outstanding. M aturity .
Stock *100,000___________________
_________ See text
__________
First
M
*10,000,000
g
(SI.-I
1916
5
g J-J
*4,060,000 July 1 1930
details o f Unification Ordinance o f 1914. under which the lines o f this com
000, *500 St *100)__ c*tf{interest payable In N . Y . or Chicago.
pany are operated jointly with those o f the Chicago Railways Co. as a sin
Gen'l M *1,500,000 gold.........1916
5%
460,000 Aug. 1 1930
gle system under the control of a joint board o f operation.
notes gold (*1.-J 1917
6 g J-J
127.500 See text
Ordinance Embodying Unified Operation of Surface and Elevated Lines.— Equipment
000 and $500)_________ c*(Int. at Chicago Northern Tr. Co., Trustee.
See Chicage Elevated Rys. on a subsequent page.
Hquip notes $500,000 ($500 Set 1919 6 g F-A 1
500,000 See text
ORGAN IZATION .— Is a consolidation formed In 1908 o f the Calumet
$1,000) .........................c*tf {Northern Trust Co., Chicago, Trustee.
Electric Street Ry. and South Chicago City R y. In accordance with the Serial gold notes $885,000/ 1917
6 g J-J
360.000 8 eo text
terms o f ordinance passed by the City Council Mar. 30 1908. Lines
(5100, $500, *l,0 0 0 )-.c*tfIC on t. Sc Comm. Tr. Sc Sav. Bk.. Chic., Trus.
are located in the south division o f the City o f Chicago. The ordinance Serial gold notes $385,000/ 1918 7 g J-D 15
260.000 See text
•rants franchises until Feb. 1 1927 and provides that the city is to receive
(*100, *500, *1,000)_.c*tf(C on t. St Comm. Tr. St Sav. Bk.. Chic., Trus.
o5% o f net receipt* after allowing for operating expenses, taxes and de Securod notes Ser “ A ” , soof 1919 6 g F-A 15
600,000 Aug 15 1*20
preciation and $% on present value, together with amounts expended for
text ($1,000) g ------------ c #tf (Central Trust Co. of Illinois, Chicago, Trust.
Improvements and extensions. Unification ordinance o f 1914 establishes
Stock.— The capital stock is in the nominal sum o f *100,000, which has
a 5-cent fare and universal transfers. City may purchase property on
Feb. 1 or Aug. 1 o f any year upon six months' notice for present value, been made the basis of the following participation certificates of no par
which is fixed at *5.000,000, plus amounts expended for improvements, value: (a) 50,000 Illinois part, certfs., bearing *5 dividends a year, cumu
additions and extensions, but only for municipal operation, where purchase lative, If earned, from Jan. 1 191*. the div. ou these certfs. having priority:
is made prior to Feb. 1 1927. with an addition o f 20% in price, city may (b) 58.000 Wisconsin part, certfs., bearing * 5 divs. a year, cumulative, if
earned, from Jan. 1 1918: (c) 62,000 common part, certfs., bearing such
also purchase for the purpose o f turning property over to other parties (if dividends
as may be earned and declared. The stock will be held by George
purchased for Chicago City Ry. only 12% additional need be paid), but
M
. Reynolds, Samuel Insull and R. Floyd Clinch as voting trustees. For
this additional sum need not be paid where these other parties agree to pay
over to the city all o f the profits above 5% on the purchase price. V. 80. basis of exchange of bonds of old co. for certificates, see V. 103, p. 664.
Bonds.— The 1st M . bonds are secured by a first lien on all the property
p. 12 A3. On Jan. 31 1919 certified value o f property and additions thereto owned
and by pledge as additional security of the entire capital stock o f the
was *11.142 014
Chicago & Milwaukee Electric Ry. of Wisconsin, which owa* the ter
STOCK AN D BONDS— * Date.
Interest. Outstanding. Maturity. minal faci’ iti ‘s in Milwaukee. *1,707,200 are pledged as security for the
Stock. $10,000,000 (*100).................
............. *10.000.000 __________
6 % and 7% secured note issues, remaining bonds may be issued at par far
First mortgage rehabilitation f 1908
5 g F-A
5.355,000 Feb 11927 not exceeding 85% of the cash cost o f betterments, &c. The mortgage pra(*1,000) gold, no s fc*& rtf lin t, at First Tr. Sc Sav. Bk.. Chic.. Trustee. vides for a maintenance, replacement & depreciation fund of 1 2 % o f annual
Notes payable. Jan. 31 1919..............................
600.000 ................... gross income for first five years, 14% for second 5 years, 16% for third
Bonds.— The Issue o f 1st mtge. bonds is Indeterminate, amount to be 5 years and 18% for the last 5 years, to be expended for maintenance,
limited to amount o f new work done on property. They are subject to &c., or for retirement of 1st mortgage bonds. The 1st mortgage bonds
call at any int. date before July 1 1912 at 105 and int.; thereafter only in are callable as a whole or part on any interest date at 105 and interest.
case city shall purchase property at par and int. on any int. date. N o s. fa. Continental & Commercial Trust St Savings Bank, Chicago, is trus
tee. V. 103, p . 1031. *240.000 Gan. M . bonds have been canceled and
EARN INGS.— For years ending Jan. 31:
*480,000 are in treasury. The equip, notes of 1917 mature *8,509 s.-a.
Year ending
*Int. onOther
Total
Bond
Dies.
Balance. July
1 1917 to Jan. 1 1927; secured by 15 steel passenger cars costing *20*.Jan. 31—
Capital. Income. Income. Interest.
Paid.
Surplus.
Redeemable all or in part at 100)4 ana int. on any int. date on 3#
1918-19............ *547.375 *11,438 *558.813 *292,938
*200.000 *65,875 000.
1917-18---------- 535,682 13,310 548,992
266.250
275,000
7,742 days’ notice. The equip, notes of 1919 mature *50,000 Aug. 1 1920 amd
* Representing company's proportion o f 40% o f Chicago Surface Lines' *25,000 each Feb. 1 and Aug. 1 thereafter to Aug. 1 1929. Rad. all ar
in part at any time on 30 days' notice, at 101 and Int. for all notes having
residue receipts pursuant to unification ordinance effective Feb. 1 1914.
over 5 years to run, and at 100)4 and int. for notes having less than 5 years
ROAD.— Owns and operates 125.75 miles o f track reaching South Chi to run. Secured by equip, at the rate of *100 of equip, for not in excess
cago, Pullman, West Pullman, Auburn Park, Burnside, Hegewisch and of $70 of notes issued. Int. in New York or Chicago. V. 109, p. *S7.
Manhattan Beach. Also extends from Jackson Park to 106th St. and the
The serial notes, dated July 1 1917, are due July 1 1920. *180,000 1-jrr.
Indiana State Line along Lake Shore and both sides o f Calumet River. notes were retired July 1 1918 and *360,000 July 1 1919. Int. payable
70, 75, 83 and 85-lb. rails.
in New York or Chicago. Call., all or part, upon 30 days' notice, tke
OFFICERS.— Pres., L. A. Busby: V .-P ., W . W . Crawford; Sec. Sc Treas., two-year notes at 1 0 0 )4 and int. and the three-year notes at 101 and int.
F. D. Hoffman; Aud., John J. Duck.— V. 100, p. 1831; V. 107. p. 1286.
for the first two years of their life and at 100)4 and Int. thereafter. They
are secured'by deposit of *940,000 C. N. S. & Mil. RR . 1st M . bonds.
(*) S outhern Street Railway C o.— A trolley road.
V. 105, p. 388. The serial notes of 1918 are due June 15 1921 and are
Unified Operation of Surface Lines.— See “ Chicago Surface Lines” for secured by $370,000 1st mtge. 5% bonds. *125,000 (unsecured) notes ef
details of Unification Ordinance o f 1914. under which the lines o f this com this issue were retired June 15 1919. Red., all or in part, at 100 and int.
pany are operated jointly with those of the Chicago Railways Co. as a sin on 30 days’ notico. Int. payable in N. Y. or Chicago. V. 107, p. 694.
gle system under the control o f a joint board o f operation.
The secured 6 % notes Ser. “ A ” are secured by $857,200 1st M . 5s. Addi
Ordinance Embodying Unified Operation of Surface and Elevated Lines.— tional notes may be issued under this indenture for one, two or three yeans
ie e Chicago Elevated Rys. on subsequent page.
at such rates of int. as may bo determined by the directors upon ths pledge
O RGAN IZATION .— Incorporated In Illinois as a reorganization of the o f 1st M . 5% bonds in the ratio of 142.857% or 1st M . 6 s in the ratio e f
Chicago General R y ., which was bid in at foreclsoure sale on Sept. 30 1907 125%. Series “ A ” are red. all or in part at 100 and int. on 30 days’ noMso.
Interest payable in New York or Chicago. V. 109, p. 887.
by the 8outhem Street Railway Co
V. 85. p 833.
Stock outstanding (par *100) *2,400,000. Bonds Issued under 1st mtge.
en(i- Dec- 31 1918 (incl. Chicago Sc Milwaukee Elecof 1909 were from time to time canceled and stock issued In exchange. No Ry.-Milwaukee City Lines),
gross, *2,899,975; not, after taxes, *867,585
1»onds now out.
fixed charges, *332.505; balance, *535.080. In 1917. gross, *1,751,373:
net, after taxes, $546,040; fixed charges, $266,580; balance. *279,169.
EARN ING S.— Included In statement o f Chicago City R y.
ROAD.— Included in Chicago City Ry.
.
* 9 -T ^ wns ana operates the electric railroad connecting Evans
111. aud Milwaukee, Wls.. with a branch line extending from Lake
OFFICERS.— Pres., L. A. Busby; V .-P .. W . W. Crawford: Sec. & Treas.. ton.
BlufT, 111., to Area 111., embracing 84.54 miles of road and 169.57 mile#
F. D. Hoffman; Aud., Jno. J. Duck— V. 91. p. 1631, 1712; V. 107, p. 1288. single
track equivalent. The principal communities served are Evanston,
(4)
Hammond W hitin g & East C hicago Railway C o.— A trolley road.Wilmette. Wlnnotka, Glencoe. Highland Park, Lake Forest. North ChlAH securities are owned by the Chicago City it Connecting Rys.
cago, Waukegan and Zion City, 111., and Kenosha. Racine and Milwaukee.
O RGAN IZATION .— Incorporated in Indiana in Jan. 1910 as successor Wis.; also Fort Sheridan and Great Lakes Naval Training Station. 1ft*
to Hammond Whiting & East Chicago Electric R y. Franchise expires In raotoT; combination, buffet, trailer, baggage and express cars, and 139
freight cars, 13 service cars, 43 misc. cars, 4 electric locomotives and 1 w o r k
19*4. Power is furnished by the Calumet & South Chicago R.v
•
Fares.— In Jan. 1919 the P. S. Comm, denied the co. authority to in- motor.
orease fares from 5 cents to 7 cents. On Aug. 29 1919, however, following
OFFICERS.—Ohalnnan of the Board. Samuel Insull: Pres., Britton I.
a strike o f the c o .’s men, the City Council auth. an increase in fares to Budd; V .-P ., R. Floyd Clinch: Sec.-Treas.. W . V. Griffin.—
7 cents, enabling the co. to raise the men’s wages. See under "Chicago T. 107. P. 401. 692, 694; V. 108. p. 972, 3120; V. 109/p. 887.
flhty St Connecting R y s.” in V. 109, p. 1079.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
C H IC A G O R A IL W A Y S CO.
Unified Operation of Surface Lines.—See "Chicago Surface Lines” for
Stock * 1 .0 0 0 . 0 0 0 (* 1 0 0 ) .........................................
* 1 ,0 0 0 . 0 0 0 ...................
First mtge. *5,000.000, gold/ 1910
5 g F-A
1,000,000 Feb 1 1930 details of Unification Ordinance of 1914. under which the lines of this
(*1.000) ................... c& rtf \Int. at First Trust Sc Sav. Bank, Chic..Trust. company are operated jointly with those of the Chicago City Ry. as a
single system under the control of a Joint board of operation. As to plan
Bonds.— Subject to call at 105 and int. E. K . Boisot is also trustee.
ROAD.— Owns 32.12 miles o f track, extending from State line between for unification of surface and elevated lines, see “ Chicago Elevated Rys.”
Ordinance Embodying Unified Operation of Surface and Elevated Lines__
Illinois and Indiana at 108th St., Chicago, to Whiting, East Chicago and
Hammond in Indiana, and operates in connection with Calumet & South See Chicago Elevated Rys. on a subsequent page.
ORGAN IZATION .— Incorp. in Illinois in Oct. 1903 and on Jan. 25 1908
Chicago Ry. to 63d St. and Madison Ave., in Chicago. Standard gauge;
80-lb. T rail.'
acquired at foreclosure sale the property of the old Chicago Union Traction
OFFICERS.— Pres., O. G. Talmadge; V .-P ., Chas. L. Lawrence; Sec. & comprising the lines of the North and West Chicago Street R R . The pur
Treas., F. D . Hoffman; Aud., W . W . Hill.— V. 79. p. 103.
chase was made under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85. p. 1269; see also p. 1576.
In Dec. 1912 purchased 6 miles or the Suburban R R . inside the city limit*
CHICAGO & INTERURBAN T RAC TION CO.
O RGAN IZATION .— Incorp. in Illinois Feb. 14 1912 to take over the (V. 95. p. 1402) and issued *22.554 bonds to cover cost.
property o f the Chicago & Southern Trac. Co. (sold at foreclosure) outside
Franchises.— On Feb. 5 1907 the City Council passed ordinances providing
the city limits, the lines within the city having been acquired by Chic. City for a settlement of the relations between the city and the street railway
R y. V. 94. p. 097.
companies. V. 84. p. 338, 390. The franchises granted by the ordinances
Fares.— In Aug. 1919 was auth. to charge 3 cents a mile between Chicage expire Feb. 11 1927 and were approved at the popular election held April 2
1907. On Oct. 10 1910 supplemental ordinance was passed expiring Feb.
and Kankakee. V. 109, p. 774.
covering lines of Chicago Consol. Trac. properties. V. 91. p. 1025
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity. 1927,
In the remarks concerning the Chicago City R y . on a preceding page of this
Stock. *1,000,000 (*100).......................................
* 1 ,0 0 0 , 0 0 0 ...................
First mtge. gold (*100, *500,7 1912
5 g J-J
1,350,000 Jan 1 1932 publication will be found a brief summary of the main terms, requirements
*1,000), no s f ________ c*tf\ ln t. at First Tr. Sc Sav. Bk.. Chic.. Trustee. and conditions of these ordinances. A very extended outline of the same
was printed In the “ Chronicle" of M ay 11 1907, pages 1123, 1124 and 1125.
Bonds.— The auth. amount o f 1st M . bonds is not limited. Bonds are to which the reader is referred for detailed information.
subject to call in whole or in part, beginning with lowest number, at 102
The ordinance for the Chicago Rys. Co. provides that the valuation of ths
<m any Interest day. There are also *378.000 bonds in treasury.
properties acquired shall be deemed and considered to be *29.000.000 (the
value fixed by a board of expert engineers acting for the city) plus *1,779.87*
BARN ING S.— For years ending Dec. 31:
for expenditures from the date of the valuation on June 30 1906 to Feb. 1
Year—
Gross.
Expenses.
Net.
Int.&Taxes. Surplus
H I S ................ *316.483
*239,119
*77,363
*92,914 d cf.*l5,580 1907. making total valuation of properties as recognized by ordinance
*30.779,875
as of Feb. 1 1907. With the expenditures already made, ths
1917-------------- 338.158
212.370
125,788
94.769
31.019
valuation o f road, equipment and franchises on Aug. 31 1919 was com
ROAD.— Consists o f 50 miles o f line between 119th St. and Vincennes puted
at
$90,884,119.
Road. Chicago, to Kankakee. 111. Standard gauge. 70-lb. T rails.
All expenditures Tor reconstruction and extensions are being made under
OFFICERS.— Pres. St M gr., O. G. Talmadge: Sec. & Treas.. W. W. the direct supervision of a board of supervising engineers headed by M r.
•Crawford.— T. 100. p. 1167; V. 104, p. 1387; V. 106, p. 1577; V. 109, p. 774. Blon J. Arnold, and the company Is required, under conservative restric
tions, to advance moneys for the construction of subways by the city.
CHICAGO NORTH SHORE & MILWAUKEE RR.
The expenditures for reconstruction and extensions. Including any contri
ORGAN IZATION .— Incorp. in 111. and on July 26 1916 acquired the butions for subways, after Feb. 1 1907 are to be added to the value of the
properties o f the Chicago & Milwaukee Electric R R ., sold at foreclosure properties recognized by the ordinance, together with 5% of such expendi
tures for brokerage. As compensation for Its services in construct!**
M ay 1 1916 (V. 102, p. 1718, 2077). V. 103, p. 664, 1687.
Franchises.— Owns right of way in Wisconsin as far as the city limits of the company will receive an additional 15% of all expenditures for recon
Milwaukee; franchise in Milwaukee expires Dec. 31 1934. Owns right of struction aud extensions, exclusive of amounts contributed for subways.
way in Illinois outside of corporate limits and to a considerable extent within The company agreed to lower and reconstruct the tunnels under the
corporate limits; the remainder is covered by municipal franchises, several Chicago River at Washington, La Salle and Van Buren streets.
being perpetual.
Right to Purchase by City.— Under the terms of the franchise, the company
Valuation.— In N ov. 1917 the Illinois P. U. Comm, determined the fair agreed to waive all rights under previous grants, and gave the city an
value of the co .’s physical property in Illinois to be not less than *5,100,000
option to purchase all of its property for municipal operation at any time
*l he original cost o f the property in both Illinois and Wisconsin as shown by
rlor to the expiration of the 2 0 -year franchise granted the company
the books was *13,91S,862, but the original cost or the Illinois section alone
y the ordinance. The price to be paid by the city to be *30,779,876.
could not be accurately ascertained. V. 105. p. 189*.
the valuation of the properties February 1 1907, as above mentioned,
In July 1917 issued *885,000 6% serial notes to reimburse the company plus all expenditures after that date for reconstruction, extensions and addi
for capital expenditures made or to be made subsequent to July 1 1916
tions to the properties, including any amounts advanced to the city for
In Aug. 1918 brought out an issue o f *385.000 7% serial notes, dated June the construction of subways in the downtown business district. In case
15 1918, to retire *180,000 6% serial notes which matured July l 1918 the property shall not be purchased, as above stated, prior to 1927.the
and to reimburse the co. for capital expenditures made or to be made sub expiration of the franchise, the city covenants that it will not then grant
sequent to April 1 1918. V. 107, p. 694.
a franchise to any other corporation for the operation of a competing system
On Sept. 8 1917 the III. P. U. Comm. auth. the co. to Increase the rate in the company s territory unless such other corporation shall purchase
*7 fare in Illinois to 2 cents per mile. On Oct. 18 1918 was auth. by the the property of the company at said price. The city also has the option
I.-S. O. Comm, to increase ticket fares from 2 to 2.5 cents per mile.
of requiring the company to sell its property to any other licensee corpora
In Aug. 1919 brought out *600,000 6% secured notes serios “ A ” and *500,- tion of the city, or or purchasing the property Itself for municipal ownership
*00 6%iequip. notes. V. 109, p. 887.
(with no requirement as to municipal operation). at any time during the
(S)
Calumet & S outh C hicago R y.— Electric.
Unified Operation of Surface Lines.— See “ Chicago Surface Lines" for
S
N o t ., 1919.]
ELECTRIC RAILWAYS
life o f the franchise; but In case o f such purchase by the city or a licensee,
the price to be paid shall be 20% more than the price above mentioned;
but the licensee shall not be required to pay the additional 20% If It shall
agree to pay over to the city all 'profits In excess of 5% on the Investment
In any event, (1) the purchase price must be paid In cash and the first
mortgage bonds of the company will attach to such cash as a first lien In
the event of such purchase; or (2) such purchase (If made within said 20
years), must be consummated expressly subject to the lien o f the 1st mtge.
bonds, but If made at the expiration o f said 20 years, the amount thereof
must also be paid In cash.
Compensation to City.— Provision Is made for special compensation
to the City o f Chicago, but this compensation Is payable only out of
the surplus earnings o f the company after paying or providing for all op
erating expenses. Including the charges for maintenance and depreciation
prescribed In the ordinance and 5% upon the valuation of the company's
property at which It may be purchased by the city for municipal operation,
as above stated. Of the surplus earnings so remaining, the City or Chicago
receives 55% and the company 45% . (See V. 99, p. 1831 for dispute with
city as to certain accounts).
Control by Trustees.— The trust Indenture securing the participation
certificates provides that until Aug. 1 1912 and to the full extent thereafter
which may be permitted by law until all o f the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall be electod by trustees, now consisting o f Messrs. Harrison
B. Riley, William C. Niblack, Abel Davis, Frank G. Gardner and Henry
J. Tansley, and provision is made in the trust deed securing the 1st M .
bonds for the appointment o f a permanent finance committee, now com
posed o f Messrs. Henry A. Blair, Seymour Morris and B. A. Eckhart of
Chicago.
Acquisition of Chicago Consolidated Traction Properties.— On Dec. 27 1910
Judge Grosscup confirmed the sale o f the Chic. Consol. Trac. Co. and Its
eight underlying companies on N or. 30 1910 to Andrew Cooke and the
■ale by the latter of all properties within the city limits to the Chicago Rail
ways Co. (V. 91, p. 945, 1253, 1511). pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4,021,982), like In tenor, amendatory
and supplemental to ordinance of Feb. 11 1907 (V . 91, p. 1025, 1159)
See reorganization plan, V. 90. p. 1613; V . 91, p. 37. The lines outside the
city were acquired Dy the County Traction C o. (now the Chicago & West
Towns R y .), which has no connection with the Chicago Railways Co.
On N ov. 1 1910 a deposit agreement was entered into by the holders of the
securities ot the Chicago Consolidated Traction and Its subsidiaries, pro
viding for the exchange of the said securities tor Chicago Rys. Co. Purchase
Money 4% to 5% bonds and Adjustment Income 4% bonds, both dated
Jan. 1 1911 and maturing Feb. 1 1927. For description of bonds and terms
of exchange, see V. 91. p. 1384. and compare V. 90, p. 1613; V. 91. p. 214.
Favorable Decision.— In Oct. 1913 the U. S. Circuit Court of Appeals
afTlrmed the decision of Judge Kohlsaat, dismissing the suit brought to have
the compromise franchise of 1907 annulled. V. 95, p. 1206.
Settlement of Yerkes Suit.— In April 1914 the company arranged a settle
ment o f the suit brought by the Yerkes estate on the guaranty o f the bonds
of the Chic. Consol. Trac. Co. by the Union Trac. Co. V. 98. p.1155.
Decision as to Regulation.— See "Chicago Surface Lines."
Wage Award by War Labor Hoard.— V. 107, p. 500.
The P. U. Comm, has auth. the oo. to issue $2,230,000 additional 1st M.
5% bonds for impts., &c. up to Sept. 30 1918 these had not yet been issued.
In Dec. 1918 applied to the 111. P. U. Comm, for auth. to Issue *1.995.414
o f 4% bonds. V. 108, p. 77.
STOCK AND BONDS—
Interest. Outstanding. Maturity.
Stock. $100.000.....................
---— See text. See text.
First mortgage
______
text).
_
[■ 1907 5 F-A
..................................
_ __ (see
$58,506,000
Feb 1 1927
($ 1 ,0 0 0 ) gold_____ c&r tf {ln t. at Harris Trust & Sav. Bk., Chic. Trus
I or at Harris, Forbes & C o., New York '
Consol mtge, gold-------------- tr 1907
5%
See text. Feb 11927
Bonds Covering City Lines of Former Chicago Consol. Traction
Porch-money M $8,000,000 gf 1910
5 J-J
4,073,000 Feb ’ 1 1927
($500 and $1.000)------c » t f illlinols Tr. A Sav. Bank, Chic., Trustee
Adjust Inc M $2,500,000 gold) 1910
4 g May
2,500.000 Feb 1 1927
($100&$500)(non-cum)c*tf ( Central Trust Co. of 111., Chicago. Trustee.
Stock.— The capital stock of the company, which Is issued in the nominal
amount o f 8100,000, has been made the subject of a trust agreement dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Rail
ways Co. awl Messrs. Adolphus O. Bartlett. Chauncey Keep Charles H
Hulburd, Albert A . Sprague and Charles G .Dawes, as depositaries and
Central Trust Co. o f New York as custodian. Under this agreement
the stock serves aa a basis for the issue of the participation certificates
representing In all 265,100 equal parts. Series 1 consists of 30,800 parts’
Sorlea 2 of 124.300 parts. Series 3 of 60,000 parts and Series 4 of 50 000 parts
Series 1, 2 and 3 are entitled. In the order of priority named, to cumulative
dividends of $8 for each part, beginning with year ending Aug. 1 1908 and in
the distribution of capital to $100 for each eald part. Series 4 is entitled
to any remaining profits or capital distributed. V. 85, p. 1269
Dividends on participation certificates Ser. 2 are limited to $4 ' on each cer
tificate so long as more than 50% of Series O bonds remain outstanding
and thereafter to $5 per certificate until the remainder of Series O bonds
have been redeemed. Series 2, however. Is entitled to unpaid accumulation
on account of its $8 per certificate (beginning with the year ending Aug. 1
1908), but only when earned, and after payment of all accumulations of
•hiking fund and of dividends on Series 1.
Bonds.— First mtge. bonds are Issued only to provide funds for rehabili
tation. extensions, Ac. They may be redeemed at par and accrued interest
on any interest day. The bonds have a first lien on the entire property
rights and franchisee of the company. The authorised Issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers. $39,000 are held in treasury and $2,812 000 of
treasury bends are pledged as collateral for bank loans. See full particu
lars of bonds, property, A c., in V. 86, p. 545; V. 88, p. 1436; 1619; V. 90.
p. 302; V. 93, p. 162. Bonds are listed on N . Y . Stock Exch. V. 103. p. 238.
The consolidated mortgage bonds consist of the following: Series A.
issued, $17,403,800. of which $1,006,000 are In the treasury and can be
Issued only for acquisition of additional property; Series B, $17,164,
475. and Series O, $636,336. Series O bonds have sinking fund of $250.
600 per annum. If earned, which began Aug. 1 1908, but cumulative until
paid. $1,196,000 Series A bonds have been retired. See particulars,
V. 88. p. 1223: V .93. p. 1724. Of ths remaining Series B. bonds, $228,000 are
In treasury- $3,363,664 Series O bonds have been retired by sinking fund
and cancellation. Bonds o f three series bore interest at 4% until Fob. 1
1612; thereafter 5% .
.
Purchase Money Mtge. bonds bore lnt. at 4% per ann. during first 5 yrs.
now 5% per ann. They are red. at par and lnt. on any lnt. date.
Adjustment Income Mtge. bonds are red. at par and lnt. on any lnt.date.
Interest Is payable only If earned and Is not cumulative. Payments of
4% each were mado on May 1 in 1913 to 1918, inclusive. No action taken
•n May 1 1919 interest. V. 108, P- 1390.
Interest on both purchase-money mortgage and adjustment Income
mortgages payable at company’s office or at agency o f company In Chicago.
D IV ID E N D .— An’ Initial dividend of $4 was paid N ov. 15 1908 on
Series 1 participation certificates. On Sept. 1 1909 $8 was paid on Series 1
certificates. None to Oct. 1912. when $6 was paid. In Feb. 1913, $6;
M ay. $6; July, $6; Aug., $4. In 1914, Feb., $4; Aug., $8, being full pay
ment of all arrears. Feb. 1915 div. of $4 was paid June 5 (V. 100, p. 1671).
The Aug. 1915 div. o f $4 was paid Sept. I 1915. In 1916. Aug., $8. In
1917, Aug., $8. In 1918, none (see V. 107, p. 82). None since.
In Feb.
1914 initial div. o f $2 per share was paid on Series 2.
In 1915, June $2.
In Feb. 1917, $2. None since.
R O A D .—Comprises 583.72 miles of track (Including 128 miles of the
former Chicago Consolidated Traction Lines).
EQU IPM EN T.— Operates 1,884 double-truck "P -A -Y -E ” passenger car.
R EPO RT.— The annual report for vear ending Jan. 31 1919 will be found
la V. 108. p. 1382. 1506. The combined results o f the “ Chicago Surface
Lines" for tho year were: Gross, $34,710,098; operating oxponsos. $25,731,$>37; residue receipts, $8,978,161.
Income Account for Years endino Jan. 31.
Share of
*Adjust- lnt., 5 % , Balance, ----- Of which to-----Res. Reels. ments. on Inv.
Divisible. City .55% . Co. 45%.
•18-’ 19.$5,386,897 Dr. 198,831 $4,501,961 $686,105 $377,358 $308,747
*17-'18. 7,207,762 Dr. 368,206 4.418,136 2,421,421 1,331.782 1,089,639
*16-'17- 7,827,668 Dr. 290,685 4,319,783 3,217,200 1.769,460 1,447,740
* Applicable to previous years.
27
Income Statement (Non-Partnership Account) for Years ending Jan. 31.
1919.
$308,747
4.501,960
109,924
1918.
$1,089,639
4,418,136
146.585
Gross income....................................... $4,920,632
Deduct—
Total interest on bonds______________$4,760,647
Interest on loans___________________
19,475
Sinking fund reserve accrued----------250,000
Federal income tax on int. coupons..
42,000
Corporation expend. & adjustments_
222,526
$5,654,360
$5,958,369
$4,765,584
-----------250,000
60,000
168,800
$4,746,786
-----------250,00®
30,00®
153,56$
Chicago Railways, 45 % .......................
5% on investment.................................
Miscellaneous interest______________
1917.
$1,447,740
4.319,783
190,846
Not income for interest, A c______dof.$374,017
$409,976
$778,015
OFFICERS.— Chairman of Board of Directors and Pres., Henry A. Blair;
Vice-Presidents, Seymour Morris and J. E. Wilkie: Sec., F. L. Hupp;
Troas., M . B. Ordo— V. 108. p. 77, 1382, 1390. 1506; V. 109. p. 172.
CHICAGO & WEST TOWNS RA ILW AY CO.
O RGAN IZATION .— Incorp. in Illinois in 1913 as a consolidation o f the
County Traction Co. and the Suburban R R . Serves the communities or
Oak Park, River Forest, M aywood, Cicero, Berwyn, Forest Park, Lyons,
Riverside, Brookfield, La Grange and others, having an estimated popula
tion of over 135,000. Franchises contain no burdensome restrictions and
extend beyond 1920. About 10.5 miles of track on private right-of-way.
F a r e s . — Effective Aug. 9 1919 was authorized to increase fares from 5 centr
within a village and 7 cents between villages, to 7 cents in the former cast
and 1 0 cents in the latter.
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g . M a t u r i t y .
Common, $1,000,000 ($100).................................
$1,000,000 ....................
Pref (cum), $1,000,000 ($ 1 0 0 )-----6%
1,000.000 ....................
First mortgage $1,000,000/ 1918
7 M -S
750,000 Sept 1 192©
($500 and $1,000) gold..c*lH arris Trust & Sav. Bank, Chicago, trustee.
Remaining bonds may be issued for 75% of exts. and enlargements
with certain restrictions. Callable on the 1st day of any month at 181
and int.
E A R N IN G S.— For years ending Dec. 31:
Calendar Years—
Gross.
Net after Taxes. Int., Ac. Lai.. Surp.
1918.................................
$594,773
$118,820
$50,488
$68,332
587,292
173,119
39,223
133,896
1917........................... ..
Road.— Owns 72.13 miles of track, of which about 5 miles leased fe r
operation by Chicago Rys. C o., and operates an additional 0.95 mile under
long-term least.
OFFICERS.— Pres., Willard M . McEwen; Sec. A Treas., Charles N .
Hebner.— V. 106, p. 1230; V. 107, p. 1384.
EVANSTON RA ILW A Y CO.
ORGANIZATION.— Incorp. Sept. 20 1913 In Illinois to take over the
lines In Evanston. 111., formerly owned by the County Traction C o. (now the
Chicago & West Towns Ry.)
Franchise.— The company was granted a new 20-year franchise.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock, $500,000 ($100).______________________
$500,000 - - - - - - - -
First mtge bonds, gold___ c */ 1913
6 g F-A............294,500
1933
Redeem at 103 and lnt____/In t. at Merch. Loan & Tr. C o..C hic., Trus.
General mortgage bonds--------- -----------------110,400 ---------------Bonds.— Sinking fund of 2% of outstanding bonds began 1917.
EARNINGS.— For years end.Dec. 31:
Year ending
Gross
Elxp., Taxes,
Net
Inter- Balance,
Dec. 31—
Earnings. Depr.,Ac. Earns.
est.
Surplus.
1918..................................$171,491
$130,661 $40,830 S24.479 $16,351
1917.................................. 174,207
121,344 52,863
21,895 30.968
ROAD.— Length of single track, 10.34 miles. 85-lb. rail. Gauge. 4 ft.
SH in.
OFFICERS.— Pres., Clement O. Smith, Milwaukee; V .-P ., J. P.
Pulliam, Milw.; Vice-Pros., & Gen. M gr., Charles F. Speed. Evanston;
Sec., Geo. J. Chaffee, Milwaukee; Treas., H. C. M ackay, Milwaukee.
C H IC A G O ELEV A TED R A IL W A Y S.— A voluntary association
similar to Massachusetts Electric Companies.
Unification of Surface and Elevated Lines and Construction of Subways. A t.
On Aug. 14 1918 the City Council passed a proposed ordinance for the
unification of surface and elevated lines and for the construction #f sub
ways, which was submitted to a referendum vote of the people on N ov. 5
1918 and rejected by them. V. 107, p. 1836. For digest o f this ordinance
see V. 107, p. 1292. The roads included were the Chicago Railways C e.,
Chicago City Railway C o.. Calumet & South Chicago R y. C o.. Souther*
Street Railway C o., Metropolitan West Side Elevated R R . C o., North
western Elevated R R . C o., South Side Elevated R R . Co. and the Unie*
Consolidated Elevated Railway Co. The ordinance provided for a
■orth and south subway system, an east and west subway system and
vast Improvements and extensions of surface and elevated lines; $70,
943,020 was tho city purchase price set for the elevated roads as of June
30 1916 with additions to or deductions from capital account to date of
effective date of ordinance. After the referendum rejection of the ordinance
the local Transportation Committee o f the Chicago City Council took up
the question of revising the ordinance and recommended a lease of the
traction properties and this is now being drawn for submission to a ref
erendum vote. V. 108, p. 1274.
On Apr. 19 1917 the 111. Supreme Court upheld the right of the State
Public Utilities Comm, to rogulate street car service in Chicago regardless
of the provisions of the contract ordinances of 1907, between the Chicago
City Council and the surface lines.
At midnight Nov. 2 1913 began through-routing north and south elevated
trains, using the Loop for that purpose, and established free transfer sta
tions between said trains and trains o f Metropolitan and Oak Park cos.
As the protect for uniting under one control the elevated railway and sur
face roads of Chicago was not carried out by July 1 1914. the Common
wealth Edison Co. purchased from the syndicate which underwrote the
pref. shares approximately 200,000 shares of Chic. El. com. stk. for about
$6 ,0 0 0 ,0 0 0 in accordance with the terms of an agreement said to have been
entered into in 1911.
Fares.— In Sept. 1918 applied to the 111. P. U. Comm, for auth. to iacrease fares from 5 cents to 7 cents. The Comm ., however, auth. the eo.
to charge only 6 cents, effective from N ov. 22 1918 to Dec. 31 1919. V.
107, p. 2008. Effective Aug. 8 1919, however, the Comm. auth. the ee.
to chargo an 8 cent faro in Chicago to continue until Feb. 1 1920. V . 10$.
p. 577. In Jan. 1919 Judge Baldwin in the Circuit Court at Chicag*
denied the petition of the municipal authorities for an injunction to restraia
the co. from charging a 6 -cent fare. V. 108, p. 377. Compare V . 107,
p. 2187.
ORGANIZATION.— Organized in 1911 to acquire stocks, bonds and
other securities of the Metropolitan West Side Elev. R y ., Northwestern
Elev. R R . and the South Side Elev. R R . ($21,202,312 being offered for the
$36,294,900 stock o f these companies— see offers in V. 92, p. 1498. All
the stocks have been turned in, a small remnant o f Northwest L pref. being
bought In August 1913; V. 97, p. 728); also, if it so elects, the stocks of the
Union Consol. Elev. R y ., Chicago & Oak Park Elev. Ry.. Chicago & Oak
Park Elev. RR. and Chicago & Elmhurst R y., which companies are con
trolled by the afore-mentioned companies. These roads operate about
196.22 miles of track.
In July 1914 the National City Bank offered the $14,000,000 gold notes
(V. 98, p. 1992). the proceeds of which, together with the sale of $ 7 ,000.000
10-yr. 6 % debentures and $12,500,000 bonds of the Northwestern Elev.
RR. were used to retire the $30,000,000 3-yr. notes which matured July 1
1914. and to provide working capital.
Decision.— On Apr. 24 1914 the Supreme Court affirmed the decision c*
Judge Scanlon o f the Circuit Court (V. 97, p. 1425) and dismissed the suit
of State Attorney Hoyne against the M et. West Side, South Side and Union
elevated railroad cos., alleging that they violated their State charter by is
suing watered stock.
Default, A c.— The July 1 1919 coupons on the $7,000,000 6 % debentures
were not paid when due. V. 109. p. 370. Anticipating the default (V. 109,
p. 370) mado on tho $1.3,626,000 2-yr. 5% secured notes (originally matured
in 1916 but wero extendod to July 1 1919 at 6 % ) due July 1 1919, the follow
ing protective committee was organized and has called for deposits. Fer
statement issued by the committee see V. 108. p. 2527.
.
Committee for Secured Gold Notes.— Charles E. Mitchell. Chairman^
Pros. National City C o., N. Y .; George M . Reynolds. IT os..Continent";
& Commercial National Bank of Chicago; John H. Mason, Pres. Com -
28
ELECTRIC RAILWAYS
[V o l . 109
LATEST EARNINGS.— See Joint statement under Chicago Elev. Ry«.
raercial Trust C o., Phila.; T . Hartley Given, Pres. Farmers' Deposit Na
No separate reports now made for the subsidiary companies.
tional Bank of Pittsburgh; R. Floyd Clinch, o f Crerar, Clinch & Co..
Dividends.—
An Initial div. of 1% was paid on pref. Oct. 18 1909 and 1%
Chicago, with K. W. Berry as Sec., 55 Wall St., N . Y . City. Depositaries:
National City Bank, N. Y ., and Continental & Commercial Trust & Savings quar. to April 1911; none thereafter to March 1912. when 2% was paid.
Divs.
not
now
reported,
as entire stock Is owned by Chicago Elevated Rys.
Bank, Chicago. V. 108. p. 2527.
R O A D .— Miles of single track: Owned 44 98 m.; operated under con
Strike— V. 109. p. 477.
tract,
16.51
m.;
total,
61.49
m. (of which 9.29 m. side track). Right of way
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity. is all owned in fee except at street crossings.
250.000 sns.....................
Common, 250.000 shares___
Under an operating agreement wltu one Chicago Milwaukee & at. Pau
160.000
shs.
See
text.
r
r o i, iou
.u w sshares.
ijs m , 6
o-/n
u u i . ____
Q -M
iu u . u v u ■ _
.
Pref.
16O.O0O
% ccum
Railway C o. made in 1907, this company's service was extended May 16
2-yr gold notes (closed issue)7 1914
6 g J-J
$14,000,000 July 1 1919 1908 to Evanston over the Evanston Division of the former road. Ser
r*i m m s$14,000.000..
u nnnnm
c* Illinois Trust Sc Sav. Bank, Chic., trustee. vice on new track elevation to eliminate grade crossings was commenced
($1,000).
7.000,000
Debentures $7,000,000 ($100 1914
------------- July 1 1924
,
6 g J-J
Jan. 6 1916 on this division. Extension to Wilmette opened April 1912.
and $ 1 ,0 0 0 ) . .................c*tf Int. at National City Bank, New York.
All track oper. (incl. loop), 66.21 miles. 80-lb. T . rails. 230 motor cars.
5 g F-A
1,435.000 See text.
Equip tr certfs gold Ser “ A " 1914
202 coaches and 4 miscellaneous cars.
550.000 See text.
do
do
Ser “ B " ____
OFFICERS.— Same as for Metropolitan West Side Elev. R y.— V 100,
guaranteed by endorsem't. Commercial Tr. Co. o f Phila.. Trustee.
p. 230, 399, 1079, 1350; V. 105, p. 2273; V. 107. p. 1004. 1288.
....................................................
1,300.000
....................
Notes payable______________
(a) Union Elevated Railroad.
. _
,
The
Stock.— Com. and pref. shares expressed at par value o f $100 each
Ordinance Embodying Unified Operation for Surface and Elevated Lines.—
pref. stock is redeemable at $ 1 0 0 and accrued dividends.
See Chicago Elevated Railways above.
.
Notes — Pending the formation o f a concrete plan for the unification of
Is used by all the Chicago elevated roads and is owned by Noriuwesteru
surface and elevated lines and appropriate municipal action In the matter, Elevated R R .; receives 44c. for each passenger carried, besides ail expenses
the holders o f $13,626,000 of the $14,000,000 5% notes due July 1 1916 for operating, repairs and taxes. Franchise expires in 1945.
consented to extending same to July 1 1919 (see above under “ Default, Ac. ’)
BONDS—
Date. Interest. Outstanding.
Maturity.
at 6 % interest, with a cash payment of $15 in respect of each $1,000 of lstM
.$5,000,000,g(T1.00())cpt 1895 5 K A-O
$4,472,000 Oct 1 1915
extended notes (to provide which the trustees borrowed $1,300,000. giving
Interest at Chase Nat. Bank, N. Y .,an d 111. Trust & Sav. Bank, Chicago.
their note therefor). In addition, the value of the security for the notes was
Bonds.— Of the $5,000,000 bonds Issued, $528,000 are deposited as se
materially increased and an agreement made with the Commonwealth
for the $12,500,000 Northwestern Elev. 5s.
Edison Co. whereby all claims for power supplied to the railroad cos. after curity
KOAO.— The loop is 2.12 miles In length, double-tracked (80-lb. rallsr
June 30 1916 and until maturity of the extended notes will be assigned to a aud
on Lake St. to Wabash Ave., to Van Buren St., to Fifth Ave.. to
trustee and will be paid only if and as other floating debt of sub. cos. (except Lakeruns
St. Road opened Oct. 10 1897. Trains of the C hicago* Oak lark.
■capital dobt) is not increased. In caso other collateral securities pledged for Metropolitan
West Side, Northwestern Elevated RR. and South Side
the extended notes shall upon sale prove insufficient to pay such extended
over the loop. Nortnwestern Elev. also owns .15 mile or double
notes in full, the said power claims then unpaid will be placed on a parity operate
track
from
connection
loop at Van Buren & State streets U> connection
with the extended notes. V. 102, p. 2341; V. 103, p. 578. The notes are with South Side El. Rwith
R ., which is leased to the latter.
V . 107. p. 1288now secured by pledge of substantially all of the stock o f the Northwestern
Elev. R y., the Met. West Side Elev. R y. and the South Side Elev. R R .,
(3) S outh Side Elev. R R .— (‘ -Alley Elevated” ).— An electric elevated
having a total par value of $36,292,500. and notes and claims against these
companies aggregating $1,070,000. Red. at par and int. on any int. date
ORGANIZATION.— Successor January 1897 to Chicago & South Side
on 30 days’ notice. Int. payable in N . Y . or Chicago. Int. at rate of 5%
R .T . R R . (foreclosed per plan V. 63. p. 1158). July 3 1 1900 the Appellate
has been paid on the unextended notes.
Court sustained the validity of the foreclosure (V. 71. p. 236). and on Feb.
|k,Deb. notes are red., ad or any part, when drawn by lot on any int. date 21 1902 that decision was concurred In by the State Supreme Court. V .74.
at 102H on 4 weeks' notice. V. 99, p. 195. The equip, trust as above is p. 477. Franchise expiree March 26 1938. Leasee the Chicago Junction
joint obligation of the Met. Northwestern and South Side Elev. cos. and not R R .. which see below,
_____
__
,
o f the Chicago Elev. Rys. The Ser. “ A *1 certifs. are due in s.-a. installments
Application for Higher Fares.— See Metrop. West Side Elev. R R . above.
from Feb. 1 1917 to Aug. 1 1926, $102,000 each Feb. 1 and $103,000 each
STOCK
AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Aug. 1. They are guar, by end. on each certif. by the Met. West Side E l., Stock. $10.231.400.............................
Q-M $10,231,400
------
Northwestern El. and the South Side El. V. 100, p. 5 3 . $615,000 retired.
mortgage. $8,000,000,1 1904
444 * J-J
8,000.000 July- 1 1924
Series “ B ” mature $110,090 semi-annually from Feb. 1 1927 to Feb. 1 1929. First
gold ($1,000)...............c* tf f Int. at 111. Tr. * Sav. Bank, C hic.. Trustee.
Dividends.— On pref., initial dlv.— 1>4%— paid Dec. 1 1911. In 1912 Equipment
trust cortfs.— See under Chicago Elevated Rys.
and 1913, 6 % . In 1914. March. 1 H % : June, 1 H %• None since.
Bonds.— Are subject to call at 105 and Interest.
__
_
R E PO RT.— For year ending June 30 1918. in V. 107, p. 2184:
Dividends.— See “ Electric Railway” Section for May 1916. Dividends
not now made public, as entire stock la owned by Chicago Elevated Rys.
Combined Earnings (Inter-Company Rentals Deducted).
REPO RT.— See joint statement under Chicago Elev. Rys. No separate
June 30
Cross
Net
Other
Interest,
DiviBalance.
__
.
Year—
Income. Earnings.
Income. Taxes. A c.
dends. Surplus. reports now made for subsidiary cos.
ROAD.— Owns elevated road In operation in Chicago upon a purchased
1917-18.$9,777,164 $4,549,187 $150,490 $3,322,858 $l,198.39o $1/8,423
1916-17. 9.289.913 4,465,427
151,589 3,249,996 1,176,345 190,675 right-of-way from Congress St. to Jackson Park and to Englewood. Elec
1915-16- 8,435,008 4.099.947
135.693 2.969.522 1,135,543 130,575 tricity was Introduced as motive power late In April 189S. Operates 430
motor cars, 52 coaches and 14 mlsc. cars. On 16.15 miles of structure has
Income Account of Chicago Elevated Rys. Collateral Trust.
total of 36.05 miles of single track main line inci. 6 30 m. leased. Also
Interest A Balance, a
Gross
-----------IncomeCalendar
9 99 miles of side-track, making total track 46.04 inilos.
Expenses. Surplus. has
Income.
Interest.
Year—
Dividends.
OFFICERS.— Same as for Metrop. West Side Elev. R y.— V . 93, p. 528;
$25,504
$1,362,179
$1,387,682
$190,981
1917...................... $1,196,702
V.
105,
p. 2273; V. 107, p. 1005.
1,248,674 123,801
1,372,475
_____
_
153,483
1,218,991
1
9 1 6 .......................
(a) C hicago Ju n ction RR.
6,417
1,146,213
1,152,630
1915......................i;027,045
125,585
ORGANIZATION.— Organized In the Interest of the South Side Elevated
OFFICERS.— Pres, o f constituent cos. Britton I Budd; Sec., W. V
RR. to build lines to connect that company's track with the Stock Yards.
Griffin: Com p., Edward A. Brion.
Only a nominal amount of stock has been Issued ($50,000), which Is held In
TRUSTEES.— William G. Beale and Samuel Insull.
.
E X E C U TIV E C O M M IT T E E .—Samuel lusull, W. A. Fox ana J. H. trust for the South Side Elevated In case that company should at any time
wish to absorb It. Is leased to the South Side Elevated for 50 years (with
Gulick
GOVERNING C O M M IT T E E .— Samuel Insull, Chairman; Gilbert E. right to purchase at cost within 20 years), rental being Interest on bonds,
Porter, Britton I. Budd, J. H. Gulick and W. A. Fox.— V. 108, p. 377, taxes. &c. Franchises are without limit.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
1274, 1721. 2527; V. 109, p. 269. 370. 477, 577.
S to c k ______________________ _____
________
See text.
__________
(1) M etropolitan West Side Elev. R .v ,-4 n electric road
1st mtge. $2,327,000, gold! 1905 4 g M-S
$2,327,000 Mch. 1 1945
Proposed Ordinance Embodying Unified Operation o f Surface and Elevated
($1,000), guar p & 1___ c*(Flrst Trust & Sav. Bank. Chicago. Trustee.
Lines.— See Chicago Elevated Railways above.
Bonds.—Are subject to call at 105 and Int. la eveut of consolidation with
O RGAN IZATION .— Organized in Illinois Jan 16 1899. Successor on South Side Elev., this Issue of bonds Is to be retired. V. 80, p. 871. Bonds
Feb. 3 1899 (per plan In V. 67, p. 126) to the Railroad Co. sold under fore are guar., p. * l.. by Chic. June. Rys. * Un. Stk. Yds. Co. See V. 82, p. 568.
ROAD.—Consists of an elevated road (from junction with South Side
closure on Jan. 4 1899. Franchise expires April 7 in 12.
" L " at 40th Street) to the Stock Yards, and a loop around the same, 3.75
STOCK AND BONDS—
Date.
Interest. Oitstand'g. Maturity .Ac. miles.
Was completed In May 1908.
$7,462,800 See text.
Common, $7.500.000_______________ _______
OFFICERS.— Pres., A. E. Rawson; V .-P ., H. K. Poronto: Sec.. Thorn
Pref, 5% non-c. $9,000 0 0 0 - . . .......
.............
8.707.500 See text.
hill Broome; Treas. & Asst. Sec., J. W . Austin; Aud., C. C. Chace.— V.
First mortgage, $10,000.000[ 1898
4 g F-A
1 0 .0 0 0 000 Aug 1 1938
87, p. 346.
($1,000), gold_______ c* tf ( Cent. Trust C o.. N . Y .,a n d f . Sherman, lr
i int. at Cent Trust C o.. N Y . and Chicago.
Ext mortgage. $5,000.OOOf 1901
4 g J-J
a5.000.000 July 1 1938
CHICAGO & OAK PARK ELEVATED RR.
($1,000). gold, red at lOoiNorthern Trust C o., Chicago. I rustee.
Ordinance Embodying Unified Operation of Surface and Elevated Lines.
on any Interest day on 4 ! Interest at company s office jn Chicago, or — Sec Chicago Elevated Rys. above.
weeks’ notice__ *_____c * t f l Central Trust C o.. New \ ork
Receivership.— On Nov. 13 1911 Judge Kohlsaat appointed Samuel
Eauipment trust certificates—See under Chicago Elevated Railways,
Insull receiver for the Railroad. V. 93. p. 1380. On Dec. 29 1911 re
a $567,000 Included in this amount is held by Chic Elev. Rys. coll, trust
ceiver was authorized to Issue $2,000,000 receiver's certificates for improve
The extension mortgage of 1901 covers the extension as a first lien, ments. V. 93, p. 1785. In Jan. 1912 Francis V. Dobbius of Rahway.
also 6 8 cars, a 3,500 h. d . engine and the new down-town termiual; the N. J.. was appointed receiver for the Railway Co. V. 94. p. 123.
bonds also cover the rest of the property as a second lien, subject to the
Foreclosure.—Judge Kohlsaat in the U. S. District Court at Chicago, on
$10,000,000 first mtge. V. 72, p. 1080; V. 75, p. 29; V. 8 6 , p. 1160.
July 17 1913, ordered the foreclosure sale of the railroad. The amount
Has guaranteed $498,000 bonds of Union Consolidated Elevated.
found to be due was $5,080,984. Up to Sept. 1 1919 road had not been sold.
LATEST EARN ING S.— See Joint statement under Chic. Elev. Rys.
Sale of Securities.— On June 20 1912 Gao. H. Church bid In for $256,000
No separate reports now made for the subsidiary companies.
the following securities formerly owned by the Chic. & Oak Park Kiev. Ry.l
D IV ID E N D S .— For dividend record see “ Electric Railway" Section for $859,000 Lake St. Elev. RR. 5% Inc. bonds; demand notes of Chic. A
M ay 1916. Dividends not now reported as all the stock Is owned by Oak Park Elev. RR. variously dated from April 23 1904 to June 15 1910.
aggregating $1,989,528; $5,850 Lake St. Elev. RR. Inc. bonds scrip. At
Chicago Elevated Rys.
Sheriff's sale In New York on Jan. 26 1912, Mr. Church bid lu for $2,000
ROAD.— From terminal station at 5th Ave. westerly about 644 miles, all title of the Ry. Co. In the foregoing bond and notes, also some $473,000
with branches: total length o f road (including Douglas 1 ark branch and additional notes of the Railroad C o., and in certificates for 91.651 17-40extension and Garfield Park branch). 23.83 miles. Miles o f single track, ihares of Chic. Sc Oak Park Elev. R R . V. 94. p. 1763.
owned, 46.98; under contract, 6.64; total operated, 53.62 miles or track,
The Chic. & Oak Park Elev. Ry. was Incorp. In New Jersey on April 22
exclusive of 7.64 miles of side tracks. Standard gauge. Right of way is 1904 to hold the securities of the Chicago & Oak Park Elevated Railroad
owned in fee. 284 motor cars, 283 coaches and 17 miscellaneous.
Co formerly the old Lake Street Elevated R R ., reorganized per plan In
On March 11 1905 the cars o f the Aurora Elgin & Chicago R y. began V. 77. p. 1874; V. 78. p. 1392. Northwestern Elevated owns 51% of stock.
operating over this company's lines to the 5th Ave. terminal under a tratric Franchise expires in 1930.
.
________ ___
agreement, the Met. West Side, in turn, securing the right to the territory
Application for Higher Fares.— See Metrop. West Side Elev. R R . above.
west of the 52d Ave. terminal on the Garfield Park line as far as the Des
STOCK
AND
BONDS—
Date.
Interest.
Outstanding.
Maturity,
Plaines River, about 3.3 miles of double track. V. 79, o . 1704.
— _____ _____ . . . . . . . . $10,000,000 __________
OFFICERS.— Chairman o f Board. Samuel Insull; Pres., B. I. Budd.
St E f fs't M .'$5,000,000. f 1893 5 J-J i m
4.432 000 July 1 1928
Sec. Sc Treas.. W . V. Griffin; Aud.. T . B. M cRae; Gon. M gr.. E. O. Noe. Lake
cuar bv N W El
____tfiC on t' & Comml. Trust & Sav. Bank, Chic.,
Office, 72 West Adams St., Chicago.— V, 107, p. 1004. 1287.
guar oy is
...............“ j and Gentrai T r. Co. or Illinois, Chic., trus.
Income mtge. $1,000.000.................
«%
...................
(2) Northwestern Elevated RR.
172.0OU ---------------Ordinance Embodying Unified Operation o f Surface and Elevated Lines.— Equipment n otes------- --------- -------- ------------See Chicago Elevated Railways above.
Receiver’s certfs, $ 2 ,0 0 0 .0 0 0 -------- - — -----1.206.000 ---- - -------- O R G A N IZA TIO N .—Incorp. In Illinois. Road was formally opened
Bonds — First mortgage bonds assenting to reorganization were stamped
for business on May 31 1900. V. 70, p. 1049. Franchises extend beyond
subiect to call at 105 and int. on any Interest date. The old Income bonds,
tbe maturity of the bonds.
In Sept. 1901 the Union Elevated R R . was acquired. The Chicago Ele with the exception of $128,600, are held In treasury of the railway company.
vated Rys. provided the cash to take up the $18,000,000 Northwestern
r o a d — Owns a double track elevated railway from Fifth Avenue and
Elevated 1st 4s which matured Sept. 1 1911.
Lake Street to 52d St. and Lake St., with spur down Market St. to Madison
On Aug. 21 1911 stockholders authorized $25,000,000 1st M . 5s (V. 93. Rf
Trains began running around the loop In Oet. 1897. Chicago Sc
p. 527). None o f these bonds sold at the time, but In July 1914 $12,500, Harlem forms an extension comprising 4 miles more of double track. Tota.
000 were sold (V. 98, p. 1920) to a syndicate of bankers and subsequently single track, 22.71 miles. 186 passenger cars; 4 miscellaneous cars.
disposed of by them.
REPORT.— For years ending June 30 ffir Railroad Co.
Application for Higher Fares.— See Metrop. W . S. Elev. R R . above.
Cross.
Net.
Other Inc. Charges.
Deficit.
Year__
1017 18
$949,753 $189,107
$4,304 $507,801 $314,390
STOCK AN D BONDS— Date.
Interest. Outstanding. Maturity.
.......................
938
288
259.122
4.496
484.221
220.603
Common stock, $5,000,000__ _____
_______
$4,946,400 ___________
?
....................... 873 267
222.310
4.198
449.967 223,459
M-S
4,944,400
See text.
Prefstk, 5% n-c. $15.000.000...........
240.288
4.362
433.845
189.195
1st M $25,000.0(10 red as af 1911
5 g M-S
12,500,000 Sept. 1 1941 1014^16 ....................... 843 682
R r 4
ot& I os
2 4 9 .2 2 4
3 .7 1 4
4 3 0 .7 4 9
1 7 7 .s u
whole at 102 & Int on 30{I1I. Tr. & Sav. B k., trustee, under mtge.
R E C E IV E R .— Samuel Insull.— V. 99, p. 1213; V. 105, p. 2271; V. 107.
days’ notice ($1,000) „c*tf ICentral Tr. C o.. N . Y .. trustee und. sup. M .
Equipment trust certificates o f 1914— See under Chicago Elevated Railways p. 1286.
______
The 1st M . bonds are an absolute first Hen, subj. only to the Union Elev.
UNION CONSOLIDATED ELEVATED RY
,
. T.
R R . 1st M . 5s; also secured by deposit o f $528,000 Union El. 5s. The re
Ordinance
Embodying
Unified
Operation of Surface and Elevated Lines.
maining $12,500,000 Northwestern bds. may bo issued only for cash cost of
_,
,
. .
.
betterments, extensions and add'ns acquired after July 1 1914 under certain }' — gee Chicago Elevated Rys. above.
OR G A N IZA TIO N .— Formed In 1896 and built from Union Elevated at
conditions. Sinking fund o f 1 % outstanding bonds payahlp annually
6th Ave. west to Market St.; thence to Metropolitan W. S. EL; total.
began Sept. 1 1919. $125,000 in sinking fund for purchase o f bonds.
No y ., 1919.]
E L E C T R IC
R A IL W A Y S
29
Franchise
1-5 mile of track: Is operated by the Metropolitan West Side El.
expires Oct. 7 1945.
On July 7 1914 Judge Wlndes In the Circuit Court held that State Attor
ney Hoyne should be prevented from proceeding against the company on
Che ground of overcapitalization. See Item under caption of “ Chicago
Elevated Rys." In V. 97, d . 1425. and also see V. 99. d . 199.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity
Stock............................................................... ........
$1,000,000 ............... ..
Series “ A " 1st mtge. gold,l 1898 5 g M-N
453,000 Nov 1 1938
gu p &1 by Met W SiELcpt fG. Sherman, V.-P. Cen. Tr. Co., N .Y ., Trust
Mortgage $1,000,000, o f which $500,000 series “ A .” V. 63, p. 1065
Of the $500,000 Series “A " bonds, $453,000 are outstanding (of which $46,
000 held by Chicago Rys. Coll. Trust); $45,000 are In treasury and $2,000
unissued.
OFFICERS.— Pres., Samuel Insull: V.-P.. Gilbert E. Porter: Sec. and
Treas., W . V. Griffin.— V. 99, p. 199: V. 107, p. 1288.
O RGAN IZATION .— Incorporated In Ohio on N ov. 3 1902 and Is a con
solidation of the Cincinnati & Eastern Electric R y ., the Rapid Hallway Co.
and the Suburban Traction Co. In July 1907 obtained authority to Issue
$1,000,000 pref. stock, of which $900,000 was In exchange for an equal
amount of 1st mtge. bonds dated 1903. V. 85, p. 221, 469. The 1903
bond issue was canceled. In 1908 a new mortgage made, as below.
Rate D e c isio n . — On Nov. 19 1915 the Ohio Supreme Court affirmed the
the decision of the Circuit Court of Hamilton County holding that the com
pany Is obliged to carry passengers for a 5-cent fare between Pleasant Ridge
and Kennedy Heights and the business section of the city.
Fares.— In Feb. 1918 the Ohio P. U. Comm. auth. the co. to increase
fares from 2 to 2)4 cents per mile. In July 1918 the receivers applied to
the County Commissioners of Hamilton County, O., for a revision of the
franchise granted bv the county so as to remove restrictions as to rates
of fare. V. 107, p. 291. 802.
Decision.— On Nov. 26 1917 the Court of Appeals at Cincinnati, reversing
the order of the Court of Common Pleas, held that the receivers have
no auth. to abandon the franchise between Cincinnati and Bethel as pro
C I N C I N N A T I .
O H I O .
posed. See V, 105, p. 2272
CINCINNATI & COLUMBUS TRACTION CO.—A trolley road.
Dismantlement of Subsidiary Co. Line.— At last accounts (July 1918) the
Sale— Dismantlement Authorized.— On Feb. 15 1919 the property was sold property of the Suburban Traction Co. was being dismantled and the rails,
at public auction for 3200,000 to the Union Sav. Bank & Trust Co., as trus &c., being sold for junk. V. 107, p. 402.
tee for the bondholders. V. 108, p. 1274. On April 17 1919 the purchaser
STOCK AND BONDS— D a te.
In terest.
O utstanding.
M a t u r it y .
applied to the Ohio P. U. Comm, for auth. to abandon and dismantle the Common, $2,500,000 ($100).................................
$2,500,000 ...................
entire line. V. 108, p. 1721. On Aug. 28 1919 was auth. by the Ohio Pref $1,000,000 ($100) 5 % ...................................
1,000.000
......... ........
P. U. Comm, to abandon the entire line with the exception o f that portion First mortgage. $1.650,000.f 1908
5 J-J
See text
1928
between Owensvillo and Norwood, which is to be retained in service indefi
gold __________________ tflln t. at Citizens’ Sav. Sc Tr. C o.. Clev.. True.
nitely. For further particulars, see V. 109, p. 981.
B<mds.— Only $122,500 of bonds were actually Issued, the remainder
Receivership.— The Union Sav. Bank & Trust Co. o f Cincinnati, trustee being used as collateral for loans, but on Feb. 7 1916 the Citizens'
of both mortgages, was on April 12 1913 appointed receiver ofcompanv, Savs & Trust Co., Cleveland, as trustee, sold at foreclosure $1,324,000
floods and Inability to meet maturing bond Issues being assigned as the of the bonds used as collateral to the holder of a 6 % promissory note fer
cause. V. 96, p. 1156. Interest on both mortgages Is In derault.
$1,300,000 dated June 12 1912.
„
O R G A N I Z A T I O N . — I n c o r p . J a n . 21 1903. F r a n c h is e s e x p i r e in 1930.
Earnings.— For the years ending Sept. 30 1918: Gross, $235,034; net
For decision of U . S. Supreme Court handed down on N ov. 11 1912. hold
(after taxes), def., $79,825; in 1917, gross, $287,745; net (after taxes),
Ing that the B. & O. Southwestern and the Norfolk & Western (steam) $4,081.
roads cannot be compelled to grant physical connection with the company,
ROAD.— Extends from Cincinnati to New Richmond, 22 miles; from
see V. 95. p. 1402
m
^ „
Cincinnati to Bethel. 33 miles (Including 9 miles jointly operated with New
Wage Award by National War Labor Board.— V. 107. d . 2097.
Richmond line). and from Cincinnati to Lebanon, 33 miles. Owned track
Fares.— In Dec. 1918 was auth. by the Ohio P. U. Comm, to increase age, incl. second, main, sidings. <5tc., 77 miles. Operated trackage, tncl.
fares to not exceeding 3 cents per mile. V. 107. p. 2375.
traffic arrangement In Cincinnati, 89 miles. Gauge, 5 ft. 214 In. Oars
STO CK AN D BON DS—
Date.
Interest. Outstanding. Maturity.
enter Cincinnati over the tracks of the Cincinnati Traction Co. 70-lb.
Common, $1,250,000 ($100).................................
$979,500 ................... and 97-lb. T rail.
P f 5% cum $1,250,000 ($100)---- -------925.500 ...................
OFFICERS.— Pres.. Geo. H. Worthington; V .-P ., J. M . Hutton; Sec ,
First mortgage, $800,000, / 1905
5 g J-J
600,000 July 1 1913 and Treas., J. F. Egolf.— V. 107, p. 291, 402, 802, 1101.
gold___________________ c*(Int. at Union Sav. Bk. & Tr. C o.. Cln..Trust.
Second mtge notes. $ 2 5 0 .0 0 0 /-----5%
148,000 Jan 1 1914
OHIO TRACTION CO.
1Int. at Union Sav. Bk. & Tr. C o.. Cincinnati
O RGAN IZATION .— Incorporated In Ohio on May 22 1905 and owns
Bonds.— The denominations of the first mortgage bonds are, respectively, practically the entire capital stock of the Cincinnati Traction Co. and
6 $50,000: 30 $5,000; 100 SI.000: and 100 $500.
They can be called at Cincinnati Car C o., besides an interest in the common and preferred
any time at par. Bonds originally matured July 1 1909 but were extended stock of the Cincinnati Dayton Sc Toledo Traction Co.
On July 6
for 2>4 years. V. 89. p. 102, 720. On Jan. 1 1912 they were again ex 1905 lease of the Cln. Sc Hamilton Trac. Co. was assigned to this company
tended 18 months. Second mtge. notes fell due July 1 1912 but were by the Cin. Interurban Co. and the latter company placed In liquidation.
extended for 18 months to Jan. 1 1914.
This company also acquired the property of the Traction Building C o.,
EA R N IN G S.— For 12 months ending Dec. 31 1918, gross, 3148,537; net which went into liquidation.
(deficit), $15,355. In 1917, gross, $150,571: net, $11,977.
STOCK—
D a te .
In terest.
O utstanding.
L a st D i v .
ROAD.— Operates 53 miles of track between Cincinnati and Hillsboro, Common. 510.000,000 ($100)______
Q-J
$8,655,000 See text.
put in complete operation In Feb 1906. Standard gauge, 70-1b. T rail
Pref, $10,000,000, 5% cum...............
Q-F
8.500.W0 See text.
OFFICERS.— Pres., H. H. Hoffman: V .-P .. C. J. Goldberg: Aud., First mtge, $2,500,000. gold,/ 1911
5g
2,500.000
153«
sinking fund ($1,000)......... (in t. at Fidelity Trust C o.. Phila.. Trustee.
H. E. Frost.— V. 107, p. 2375: V. 108, p. 267, 479, 1274, 1721; V. 109, p.931.
Notes $1,500.000 ($1.000)------ 1915
6 M-S
356.000 See text.
Stock.— Further issues of stock can only be made for acquirement of
CINCINNATI GEORGETOWN & PORTSMOUTH RR.
properties and additions to the present properties
ORGAN IZATION .— Formerly a narrow-gauge steam road, but now other
mtge. covers holdings of stock of the Cincinnati Traction
operated by both electricity and steam
Under Ohio law remains a steam Co.Bonds.—Flret
and
Cincinnati Car Co. owned and controlled by Ohio Trac. and all
road. Has no franchise limitations and Is located on private right-of-way. other property
and franchises exception Traction cos. ownership of stock in
In Sept. 1911 entered into a management agreement with the Felicity & Cincmnati Dayton
& Toledo Traction Co. Bonds are redeemable as a
Bethel RR. and the Ohio River & Columbus R R . (a steam road). V. 93, whole or in part for sinking
on any Int. date at 163 and Int
Sinking
». 796. On Jan. 1 1914. however, management changed and the Ohio fund provides for retirement fund
bonds at maturity. V. 92 p 726 Amount
liver & Columbus was again divorced from the other two roads. Has in sinking fund Jan. 15 1919.of$524,000,
The
notes
mature
Sent.
1
yearly
contracts to supply electric current for municipal distributing systems of as follows: 1916, $200,000; 1917 and 1918, $300,060; 1919 and 1620 $356
Georgetown and Bethel. Ohio.
000;
the
proportion
of
maturities
and
accrued
Int.
to
be
provided’
before
Fare Decision.— On Feb. 17 1914 the Ohio Supreme Court sustained the
are paid. lilt, payable at Penn. Co. for Ins. on Lives & Granting
right of this company and the Interurban Ry. & Terminal Co. to charge dlvs.
trustee. V 100. p. 1259. $1,150,000 retired.
10 cants from Cincinnati to California (Ohio) and Coney Island (Ohio), Annuities,
Dividends.— First div. on pref. stock— X H % — was paid Aug 1 1905;
both now forming nart or Clucinuatl
V. 98. p. 610
On Jan. 15 1918 the Inter-State Commerce Comm. auth. an increase of and same rate paid quar. to and Incl. Nov. 1915. The Feb. 1916 div was
deferred. See Pres. Schoepf’s letter In V. 102. p. 437. On Com first
15% in passenger fares.
STOCK A N D BONDS— Date.
Interest. Outstanding.
Maturity. div.— 1%— paid Nov. 1 1909. In 1910. Oct., 1% . In 19H July V%1% . In 1912. Jan., 1%; April. 1% ; July. 1 % ; O ct.. 1%
~ ; ~Dec..
Stock. $1,500,000:-. .............................................
$1,500,000 ................... Oct.,
1% . In 1913. April, 1% . None since.
1 st mtge. $1,000,000, gold/ 1902
5 g J-J
1,000,000 Jan 11932
EARNING S.—
Gross
Net
Fixed
($1.00 0).........i-------------- c*\lnt.at Union Sav. Bk.& Tr.,Ctn.,Tr..AlnN.Y
Income.
Income.
Charges.
Surplus.
Fel A Beth 1st M $100,000, g| 1905 5 g A-O
100,000 Oct 1 1935 Calendar Year—
19 18.................................
$272,438
$220,577
S179.000
($1,000). not callable _c*'In t at Union Sav. Bk. Sc T r.. Cln.. Trustee
xSU.577
751,225
699,545
197,000
ROAD.— Operates 53.7 miles from Cincinnati southeasterly to Bussel- 1917 .............................
502,545
x The revised franchise o f Aug. 23 1918 permits the Cincinnati Trac 'Co
vllle. Including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island
The Felicity & Bethel has 8.5 m of track between the points named In its to earn fixed sums which will become available to this company for int *
div. and sinking fund purposes. The amount actually earned by the Cin
title.
cinnati Trac. Co. in the year 1918 was short of the ordinance allowances by
OFFICERS.— Pres., A Treas.. Henry A. Halgh: V.-Pres., W. J. Thom
$170,511 and under the provisions of the ordinance this shortage must be
son; Sec., A. L. O. Henry; Gen. M gr.. A. H. Elfuer.— V. 106. p. 295.
made up from earnings of future years.
OFFICERS.— Pres.. W. Kesley Schoepf; 1st V .-P ., Chas. P. Taft: 2nd
CINCINNATI LAWRENCEBURG & AURORA ELECTRICSTREET
V.-P., Dana Stevens: 3rd V .-P . and Sec.. Walter A. Draper. Asst. Sec.
R R .— A trolley road.
Receivership.— The company having suffered damage from the 1913 flood. D. J. Downing: Treas., W . H. MacAlister; Aud., E. J. Boos: Gen. M gr ’
Judge Warner at Cincinnati on June 23 1913 appointed F. B. Shutts. of A. Benham.— V. 102, p. 437; V. 103, p. 579, 759; V. 104, p. 1593; V. 1071
Florida, receiver on application o f Pres. J. C . Hooven, who. it is stated, p. 803; V. 108, p. 873, 2630; V. 109, p. 776.
loaned the company $125,000. V. 96, p. 1839. On Dec. 28 1914 C. E.
(1) The Cincinnati Traction Co.
Hooven was appointed receiver upon the resignation o f F. B. Shutts.
ORGANIZATION.— Incorporated in Ohio on Feb. 19 1901 with an autb.
Subsequently Edgar Stark was appointed co-receiver.
capital stock of $2,000,060 (which, all except 11 shares, is ewaed by the
ORGANIZATION.— Incorporated in N ov. 1898.
Ohio Trac. C o.), to take over under lease the Cincinnati Street R y . C o.
Franchise.— In Doc. 1917 was granted a new 20-year franchise authorizing See V. 72. p. 391.
the co. to construct a new line within city limits in lieu o f a portion of its
Franchise Ordinance.— On Aug. 23 1918 the Cincinnati City Council
existing route, construction to begin within ono year from date of acceptance passed a revised franchise, which went Into effect upen Sept. 23 1918. The
of franchise ordinance. The franchise gives the co. the right to carry franchise was signed by the M ayor, and thereby became a law, it having
passengers, freight, express matter, baggage, packages and U. S. mail and been decided that the revised franchise weuld not be submitted to a referen
provides for 5-cont and 10-cent fares with half fare for children. After 10 dum vote. V. 107, p. 1191. The ordinance modifies the company's 56years the co. must pay the city $1,500 per annum. V. 106, p. 394.
year franchise granted in 1896 as permitted at the end of 20 and 35-year
Receiver's Certificates.— in Feb. 1918 applied for authority to Issue re periods and contains the following mani features: (a) City control over ser
ceiver’s certificates to cover cost of proposed improvements to reduce vice, extensions and all features of operation. ( 6 ) A sliding scale of fares
operating costs. SeeV. 106, p. 715. Auth. to issue these has been granted. based on the cost o f service with 5 cents as the initial fare with universal
Fares.— In Dec. 1918 the receivers petitioned the County Commissioners transfers, (c) Company is to establish a reserve fund of $400,000 through
to request the Ohio P. U. Comm, to examine the property and fix an surplus earnings. When the reserve fund reaches $650,000 an automatic
“ equitable rate o f fare,” this being made imperative, owing to a wage reduction of J4 cent in the rate of fare will take place. On the other hand,
award to the company’s men by the National War Labor Board. V. 108 if the reserve fund should be reduced to $250,000 the rate will automatically
increase J4 cent, (rf) A fixed return to the company on Its investment. ■
(e) When the rate of fare is 5 cents or less the company may retain 45%
of the surplus, the remaining 5 5 % going to the reserve fund: when the
15 1919 and no arrangements had boon mado for the payment o f same up rate is Increased to 514 cents the company’s share o f surplus will be reduced
to that time.
to 30% , and when 6 cents is reached the company may retain only 20% ;
STOCK AND BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
when the rate of fare exceeds 6 cents the entire surplus is to go to the
Common, $750,000------- ------- -----------------$750,000 __________
reserve. (/) Franchise tax o f $350,000 per annum to be paid t® the city.
Pref, 6% cum. $250,000.....................
Q-J
58.900 ____________ (o) City to have right to purchase the property either by condemnation or
First mortgage. $750,000----- / 1899
5 g J-J
750,000 July 1 1919 at the agreed valuation of $26,238,950. For further details see V. 107.
($1,000), gold.....................Unterest at Un. Sav. Bk. & Tr. C o., Cln., Tr. p. 802, 1003, 1287.
8TO C K .— Pref. stock was Issued for money assessed on capital stock.
Fares.— On Jan. 1 1919 the original 5-cent fare provided for under the
No Interest has been paid
above ordinance being found inadequate, the rate was increased to 5 1 4
E A R N IN G S.— For calendar years:
cents, and on April 1 1919 the rate was increased to 6 cents, being the next
Year—
Gross.
Net. Bond Int. Balance.
higher scale under the above franchise ordinance. V. 108, p. 1274. On
1 9 18.................................................$129,328 $21,005 $37,500 def.$16,495 July 1 1919 the 614-cent scale went into effect and on Oct. 1 1919 the fares
were increased to 7 cents. V. 109, p. 370 1179.
1 9 1 7 ................. ................................ 125,015 17,710
37,500 def.19,790
R OAD.— Operates 39.14 miles of track from Anderson's Ferry, at Cin
Ordinance Upheld.— On April 3 1919 Judge Frank R. Gusweiler in the
cinnati, to Aurora. Harrison and Lawrenceburg.
Superior Court at Cincinnati upheld the city franchise ordinance and refused
OFFICERS.— Receivers, O. E. Hooven and Edgar Stark.— V. 107, p. to grant an Injunction to enjoin the increases in fare rates. V. 108, p. 1511.
NOTES—
D a te .
In terest.
Outstanding.
M a t u r it y .
1099; V. 108, p. 77. 578.
______
Equip notes S e r "B " $360,000/ 1910
5 g J-J
$36,000 See text.
CINCINNATI MILFORD & BLANCHESTER TR AC TIO N CO.
gold ($1,000)................... c* lln t. at Fidelity Trust C o.. Phila.. Trustee.
O R G A N IZA TIO N .— Incorp. in Ohio on Oct. 24 1918 as successor to Equip notes. Series “ C ," l
1911 5 g J-J
44,000 See text.
the Cincinnati Milford & Loveland Traction (sold to the bondholders for
$220,000, gold ($1.000) .c*\Fidelity Trust C o.. Philadelphia, Trustee.
119.000 See text.
$136,000; for history see this publication for M ay 1918). The new company Equip notes. Series “ D ,” / 1912 5 g A-O
$340,000. gold ($1.000)-c*(Fidelity Trust C o.. Philadelphia. Trustee
has an auth. capital stock o f $400,000.— V. 107, p. 1836.
Equip notes Series “ E ” $200.-1 1914
5 g M-S
90.000
See text
INTERURBAN R Y . & TERMINAL CO.— A trolley road.
000 gold ($1,000) ____ c*l Fidelity Tr. C o., Phila.. trustee.
Receivership.— On Oct. 1 1914, on application of the Westinghonse Elec. Equipment notes Series “ F ” j 1917
5 g F-A
440.000 See text
& M fg. C o., a creditor for $2,500, Charles S. Thrasher o f Cleveland and
$550,000 gold___________ (Fidelity Trust C o., Philadelphia, trustee.
Oharlos M . Leslie of Cincinnati were appointed receivers. The Westing- Equip notes Series “ G -l" $ l,- f 1919
6 g A-O1,000.000
See text
house Co. charged that the company had defaulted in the payment of In
000,000 ($1,000) gold__ c*(Fifth-Third Nat. Bank, Cine., O., trustee.
terest on Its bonds and Is Insolvent. The company joined in the applica Equipment notes Series “ G-2” ) 1919 6 g A-O
250,000 See text
$250,000_________________ (Fifth-Third Nat. Bank, Cine., O., trustee
tion. See V. 99, p. 969. and 1052.
§
Balance,
E L E C T R IC
30
Series " B ” are a first mortgage on 100 new cars and mature $18,000
every six months from Jan. 1 1911 to 1920. inclusive. V. 91, p. 154.
Series " C ” notes are a first mortgage on 50 new cars. They mature
$11,000 half-yearly from Jan. 1 1912 to July 1 1921. ^ V. 93. p. 526. Seri**
" D ” are a 1st M . on 76 new cars and mature $17,000 half-yearly from Apr. 1
1913 to Oct. 1 1922. Incl. V . 95. p. 889. Series *‘E ’ ’ covers 60 new double
truck cars and mature $10,000 semi-annually from Aug. 31 1914 to ten . 29
1924. V. 98, p. 689. 999. Series “ F ” covers 100 new double truck care and
matures semi-annually $27,000 on Jan. 31 and $28,000 on July 31. Series
“ G -l” are a first mtgo. on 105 double-truck care and mature $50,000 semiann. from Oct. 1 1919 to April 1 1929. Series “ G-2” are a second mtgo. on
the same equipment and mature $25,000 semi-ann. each April and Oct. 1
to April 1924.
R E PO RT.— For years ending Dec. 31:
,
Years—
G ross.
Net,after Tax. Rentals.
Interest. Bal.,Surp.
1918....................$5,739,992 $1,626,946 $1,234,937 $69,639 a$222.370
1917 .................... 6,026,847
2,150.842
1,234,937
30.236 b885,669
1916
5,951,816
2,064.346
1,234,937
34,792
794,617
a This sum is $827,550 short of the amount allowed by th ordinance
for interest and sinking fund on $4,000,000 o f the impts. made to Dec. 31
1916, the return on the additional impts. to that date and the percentage
tax to the City o f Cincinnati. The deficiency becomes a cumulative charge
against the gross receipts o f future years, b This sum is sufficient to pay
the sums allowed by the ordinance for interest and sinking fund on $4,000,•00 o f the Impts. made to Dec. 31 1916 and the return on the additional
impts. made to that date, and is within $171,528 o f the sum due as percent
age tax to the city o f Cincinnati. The ordinance allows the deficit to be
earned in future years.
R OAD,— The Cincln. St. R y. comprises 227.78 miles of track In the city
•f Cincinnati, Ohio, extending also to adjoining suburbs. Gauge, 5 ft.
in
OFFICERS.— Chairman Executive Comm, and Pres., W . Kesley
Bchoepf: VIce-Pres., Dana Stevens; Vlce-Pres.. Walter A. Draper: Sec.,
» . J. Dewning; Treas., W . H. McAlister; Aud., E . J. Boos; Gen. M gr.,
A. Benham.— V. 108, p. 1164; V. 109, p. 370, 676, 1179.
(a) C incinn ati Street R ailway.— Electric.
Was leased on Feb. 21 1901 to the Cincinnati Traction Co. for the unex■lred term of the franchise granted by the City o f Cincinnati on Aug. 13
1896, and all successive renewals and extensions of the same. The rental Is
Intended to provide dividends o f 5H % for the first year, 5M % for the secend , 5H % for the third and 6 % for the fourth year and thereafter
V. 72.
p. 136. Franchises, It Is claimed by company, mature April 22 1946.
Favorable Tax Decision— In June 1915 the D. 8 . Circuit Court o r Appeals
at Cincinnati, reversing the lower court, held that the Government was
•bilged to return to the Cincinnati Street R y., Dayton A Western Ira c. Co.,
Columbus Newark A Zanesville Elec. R y ., Ft. Wayne Van Wert & Lima
Trac. Co. and Indiana Columbus A Eastern Trac. Co. about $100,000
collected from theae companies under the old Federal corporation tax law
The question at issue was whether these companies carried on business
within the meaning o f the law, having leased their properties to other cor
porations, and the only business done by them being to collect and pay out
the rentals under the leases. The Court held that they transacted business
•■ly Incidentally to that o f tho lessor companies. V. 101. p. 212.
Valuation.— See Cincinnati Trac. Co. above and In V. 103, p. 578.
Lease of “ L o o p — See Cincinnati Traction Co. above.
ORGAN IZATION .— Incorporated June 21 1880 and in 1896 purchased
M t. Adams A Eden Park and M t. Auburn roads.
S T O C K A N D BO N DS—
P ar.
In terest.
Outstanding. La st d i v ., Ac.
m ock, $20.000.000------- -------- $50
6 Q-J
$18,511,950 See text.
D iv id en d s.— To and Including April 1901, 5% per annum; July 1 and
« e t . 1 1901 and Jan. 1 and April 1 1902, 1.3125% each; July 1 1902. Oct. 1
1902, Jan. 1 1903 and Agril 1 1903, 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 1 1904, each 1.4375%; July 1904. 1 H % : Oct. 1904,
1 H % . Dividends since have been at the rate of 6 % per annum and will
so continue to the end of lease and its renewals.
O F F IC E R S . — Pres. B. L. Kllgour; V .-P .. Edward Goepper: Sec. A
Treas., A . J. Becht.— V. 106, p. 924; V. 107, p. 2097; V. 108, p. 1511.
(2) C incinn ati & Ham ilton T ra ctio n .— A trolley road.
ORGANIZATION.— This company was organized in Aug. 1902 as a
consolidation of the Mill Creek Valley Street Ry. and the HamiltonGlendale
A Cincinnati Traction. V. 75. p. 497. On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75. p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Interurban C o. placed
In liquidation. Rental, year end. Sept. 30 1903, $55,000, Increasing to
$100,000 for 1915-16 and thereafter.
^_ ,
.
...
On July 9 1914 Judge Sater In the U. S. Dist. Court at Columbus held
Invalid tho ordinance pawed by the City Council on Apr. 27 1914. providing
fnr a 5-cent Instead of a 10-cent fare from Cincinnati to Carthage and Hart
well (see V. 98. p. 1392). and granted an Injunction against its enforcement.
T . 92, p. 196.
STOCK.— Auth. and outstanding, common. $1,100,000; 5% cumulative
•ref., $1,100,000. Par of shares. $100. Dirs. payable Q.-J.
Dividends.— 5% per annum Is being paid on the pref. stock. The first
1 % quarterly
ROAD.— Owns and operates 36.67 miles of track from the "Z o o ” In Cin
cinnati to Hamilton and 15 miles from Cincinnati to Lockland. Gauge.
6 ft. 214 in.
Operates over tracks of Cincinnati Traction Co. from Zoo
to Fountain Square In Cincinnati.
OFFICERS.— Pres.. H. H. Hoffman: V .-P .. B. L. Kilgour; Sec. A
T i e a s .. A. J. Becht, all o f Cincinnati.— V. 99. p. 196; V. 106, p. 924.
C L E V E L A N D ,
O H I O .
The receivers of tho Municipal Traction Co. having been (Bscharged and
Ike debts o f that company provided for. the Cleveland R y. Co. on M ar. 1
1910 resumed possession of its lines under ordinance (see below) o f D ec.1909
T . 90. P- 626. The lease to Municipal Traction Co. was canceled of reemd.
Franchise Ordinance.— A new franchise ordinance (V. 89. p. 1667) was
passed In Dec. 1909 by the City Council, and acceptedl b y the raUway co
Based upon the valuation o f the co ■ property as fixed by Judge Tayler. rhe
ordinance grants franchisee to operate on existing roads to M ay 1 1934. sub
ject to the right o f the city to purchase the property. In M ay 1919 tholifo
•f the ordinance was extended for 10 years, from M ay 1 1934 to M ay 1
1 9 4 4 . y . 108, p. 2122.
In case o f purchase the city must pay the capital
•value o f said property, as fixed by Section 16 plus at the same time 10%
of so much of the capital value as is represented by capital stock, assum
ing and agreeing to pay, in addition thereto, all tho obligations, indebted■ess and liabilities o f the company, and all liens other than bonded debt
upon its property then existing, which bonded debt tho city shall provido
for by assumption, by payment or by taking tho property subject thereto,
as may be provided by law at the time. On and after Jan. 1 1918 tno
oity may designate a purchaser or licensee in place o f the city on pay
ment of same amount. On Feb. 17 1910 at a referendum election the
•lectors ratified the ordinance (V. 89, p. 1667; V. 90, p. 167, 502). On
July 10 1911 the City Council passed an ordinance amending that of Dec.
1909 providing, among other things, for additions to capital as required and
particularly for the Immediate expenditure o f $2,500,000 for impts., extent,
and eqnlpt. Ths ordinance also providedt hat ths right o f the city to pro
pose extan., bsttsrm'ts or Impts. shall terminate whenever the unexpired
term or any renewal thereof is less than 15 years, and also that during such
period ths company may operate at ths maximum rats o f fare and fix the
schedules subject to the police power o f the city. Provision is also made for
the use o f surplus earniagt during this 15-yr. period, either in the payment of
floating debt or ths creation of a s. f. to purchase securities and reduce
capital value. At a referendum election on N ov. 7 1911, the electors ratified
the ordinance amending that o f Dec. 1909.
Has franchise in Lakewood, expiring M ay 1 1034, which provides for a
3-cent fare within city limits and a 5-cent fare to Cleveland, and gives the
City of Lakewood the right to purchase the company’s linos within the
city, subject, however, to ths option of the city or Cleveland to purchase
the entire property o f the company.
Valuation.— Judge Tayler placed the value o f the physical property o f the
Cleveland Elec. R y. Co. at $17,511,856 and the franchise value at $3,615,
844; total, $21,127,700: agreed value o f property purchased from Forest
City R y. C o., $1,805,600; total valuation, $22,933,300. T o this is added
$1,158,300 Interest or rental accrued, making the entire “ capital value”
$24,091,600. The bonded debt o f $8,128,000 and floating Indebtedness
as of Jan. 1 1908, $1,288,000, or $9,416,000 In all. Is deducted, leaving
R A IL W A Y S
[V ol . 109
$14,675,600. The valuation is to be Increased for the purpose of fixing the
price at which the city or Its nominee may purchase the property by the
amount of future requirements, including cost of new pay-as-you-enter cars
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
Fares.— Fare to East Cleveland is same as city fare. Fare to other
suburbs 6 cents, or 11 tickets for 50 cents, according to contracts. The
company's schedules and routes are subject to the supervision of tho
city and the rates of fare to bo fixed so as to net a return of Interest as stated
above on the capital value of the property and permit of the maintenance at
all times of a so-called Interest fund of at least $500,000, V. 89. P. 1667.
When this amount falls to $300,000 this shall be prlma facie evidence o f
the necessity of raising the fare to the next higher rate. An experimental
fare of 3c., with lc . extra for transfers without rebate, was tried to see If
It would yield the auth. int. on capital val.— 5% on bonds, 6 % on floating
debt and capital stock. On June 1 1911 authorities ordered the fare re
duced to 3c. cash fare, lc . extra for transfer, but the latter to be rebated
when taken up. V. 92. p. 1498; V. 93, p. 1190. On 8 ept. 1 1914. however,
the one-cent charge for transfers with no rebate on surrender was restored,
as the interest fund had fallen below the $300,000 mark. V. 99, p. 608, 342.
On Dec. 15 1917 the Interest fund having again fallen below $300,000,
a cash fare of 4 cents and 3 tickets for 10 cents with a 1 -cent charge for
transfers with rebate was made effective. Beginning Dec. 26 1917, the
rebating of the transfer charge was discontinued. V. 105. p. 2455; V .106,
p. 85. In Apr. 1918 a new schedule of a 4-cent cash fare, 7 tickets for a
quarter and a 1-cent charge for transfers, with rebate, was put Into effect.
See V. 106. p. 1461. The Increase was upheld by tho Ohio Supreme Court.
V. 106, p. 1796. On Aug. 4 1918 rates were increased to 5 cents cash fare
and 5 tickets for 25 cents with a 1-cent charge for transfers without rebate,
as a result of an ordinance passed by the City Council on Aug. 3 1918 which
fixes 5 new faro schedules and provides for increased operating allowances.
(On July 1 rates were reduced to 11 tickets for 50 cents, with a 1-cent
charge for transfers. V. 108, p. 2433; V. 109, p. 172.] The fare schedules
aro as follows: (1) 6 cents cash fare, 9 tickets for 50 cents: (2) 5 cents cash
fare, 5 tickets for a quarter; (3) 5 cents cash fare, 11 tickets for 50 cents;
(4) 5 cents cash faro, 6 tickets for a quarter; (5) 4 cents cash fare, 5 tickets
for 20 cents. Each schedule provides for a 1-cent charge for transfors
without rebate. V. 107, p. 695; V. 108, p. 2433.
„
..
On Dec. 14 1912 the Council of Cleveland passed an ordinance giving the
company the right to transport freight within the city limits In Interurban
cars and to charge the interurban companies 25c. per car mile.
ORGANIZATION.— In 1908 changed name from the Cleveland Elec
tric Railway Co. (which had in 1903 taken over the Cleveland City R y ,)
to Cleveland Railway C o., and authorized new stock to the amount o f $35,
000,000. The old stock of Cleveland Electric R y. was given a valuation
of $55 per share, or $12,870,000 (having formerly been $23,400,000) and
was paid for In new stock Issued by Cleveland Railway at par ($100
valuation. The Forest City Ry. (which had first absorbed the Low Fare
R y.) was purchased for $1,805,600 stock of Cleveland R y .. the shares o f the
Forest City R y. being accepted at their par ($100) value.
On Jan. 2 1917 a board of arbitrators authorized the co. to enter Into an
18-year contract with the Cleveland Electric Illuminating Co. for the
purchase of power, which was accordingly done.
Wage Award by War Labor Board.— V. 107, p. 695.
„
,
Municipal Subway Commission.— On N ov. 19 1917 Mayor Davis ap
pointed a commission of five Cleveland men to take charge of the building
ef a municipal subway system. See V. 105, p. 2271; V. 109, p. 271, 477.
The ordinance providing for such action was held legal by tho Ohio Supreme
Court in April 1918. V. 106, p. 1688.
Insurance.— In Aug. 1919 tho company was reported to have taken out
an insurance policy for $ 1 0 , 1 1 0 ,0 0 0 against "riot and civil commotion.”
V. 109, p. 774.
In Mar. 1918 was auth. by tho Ohio P. U. Comm, to Issue $2,700,000
new stock (not reported in amount reported outstanding), of which 41,230,
000 will be used to pay floating debt and the remainder for Impts. V. 106,
p. 1230. Stockholders of record Mar. 1 1918 were offered the right to
subscribe for the new stock pro rata at par. V. 106, p. 607.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Stock ($100)...........................
Q-J
$28,723,200 Oct. 19.1 H
-----------------* -1 19fl
l)3l
First mortgage $35,000,000 gT 1911 5 M-S
" 5,495,000
Mch
($1,000) ------------------- c * tf IInterest In New York City or Cleveland.
Bonds.— Of tho first mortgage of 1911. $15,000,000 auth. may he Issued for
85% or cash cost of extensions, betterments, A c., and remaining bonds for
60% or such cash cost, when net earnings Tor previous 12 mos. shall have
equaled at least twice the lnt. charge. Including bonds proposed to be issued.
Bonds aro rod. on any lnt. date at 105 and lnt. on 90 days’ notice. Citi
zens’ Savings A Trust C o.. Cleveland, and Bankers Trust C o.. N . Y ..
trustees.
.
Dividends.— First div.— l \ i % — under new franchise ordinance of Dee.
1909 paid April 1910 aud 1M % quar. since to and lncl. October 1919.
R E PO RT.— For calendar year;
Calendar
Gross
Net
Other Int., Taxes &
Balance.
Year—
Earnings.
Earnings.
Income. 6 % Dividend.
Surplus.
1918............ $12,338,906 $3,587,090 $105,014 $2,715,914
$97(5,220
1917---------- 10,176,126
2,613,787
80,389 2,571,964
122,212
From the surpluses as above there was deducted $744,000 in 1918.
against $524,000 in 1917, for obsolete equipment written off, leaving a
surplus of $232,221 for 1918 and a deficit of $101,785 for 1917.
ROAD.— Operates 385.300 miles of single track, of which 360.192 miles
aro owned. Mostly 80, 95. 100, 103 and 141-lb. standard rails; 1.464 pas
senger care; 5 other revenue cars and 194 service cars.
OFFICERS.— Pres., J. J. Stanley; V .-P., J. H. Alexander; V .-P ., R. A.
narman; V.-P. A Gen. M gr., Geo. L. Radcliffe; Sec. & Treas., H. J. Davies;
Asst. Treas., W m. J. Mead: Aud., Thos. P. Kiifoyie.— V. 107. p. 1610,
2122, 2433; V. 109, p. 172, 270, 477, 774.
CLEVELAND SOUTHWESTERN & COLUMBUS RY.
ORGAN IZATION .— Incorporated In Ohio on March 4 1907 and Is a
consolidation of the Cleveland A Southwestern Traction C o., the Cleveland
Ashland A Mansfield Traction C o. and the Ohio Central Traction Co. For
terms of exchange see V. 83, p. 1590. Also owns the Norwalk Gas A
Electric Co.
In Jan. 1913 the Elyria Grafton A Southern R y. reduced its capital stock
from $100,000 to $1,000. and the Norwalk Gas A Elec. Co. from $125,000
to $1,250. In March 1913 the Cleveland Southw. A Col. reduced the
authorized amount of common stock from $7,500,000 to $4,236,000.
In Jan. 1917 accepted a 25-year franchise from tho City of Elyria, pro
viding for 20-mlnute city service and 6 tickets for 25c.
The Ohio P. S. Coram. has from time to time auth. the co. to Issue
$548,678 1st consol. M . 5s at not less than 85 to reimburse the co. for ex
penditures for Impts., &c., and to hypothecate them pending sale.
In June 1917 the Guardian Sav. & Trust Co. purchased $75,000 car trust
6 s issued against 8 new care, maturing $ 1 0 ,0 0 0 each year thereafter on
M ay 15 and N ov. 15 until retired.
Fare Increase.— On Aug. 15 1918 a new fare schedule wont Into effect
which provided for a straight rate of 3 cents a mile, an Increase of H cent
a mile. V. 107, p. 401. An Increase of 25% in class and commodity rates
has been applied for. V. 107, p. 82.
In Feb. 1919 the co. announced that as It was practically impossible to
refund the $127,000 Clev. Ber. Elyr. & Oberlin cons. M . 5s, duo Mar. 1
1919, it had arranged to extend same to Aug. 1 1920 at 5 % . A cash pay
ment of $28-33 on each $1,000 bond so extended was made, thus netting the
holders a return of 7% during the period of extension. V. 108, p. 1060.
Tho $95,000 1st M . 5s of the Ohio Central Traction Co., due June 1 1919.
were taken care o f In a similar manner; tho company arranging to extend tho
maturity of same to Aug. 1 1920 at 5% . A cash payment o f $23.33 was
mado, thus netting the holders a return of 7% during tho period of extension.
V . 108, p. 2241.
STOCK AND BONDS—
Date. Interest.
Outstanding. M aturity
Common $7,500,000 ($100)...................................
$4,236,000 ...................
Pref $2,500,000 5% cum ($ 100)............... - - - - 2.412.000
First general consol mortgagel 1907 5 A-O
945,000 April 1 1927
$ 1 0 .0 0 0 .0 0 0 ( i l , 0 0 0 )gc«A rcpt JInt. at Cleveland Tr. C o., Cleve,, Trustee.
Cleveland A Elyria first mort-f 1895 6 Q-F
200.000 Aug. 1 1920
gags on 18 miles ($500){Interest at Citizens’ Savings A Trust C o..
Subject to call----------- c p t l Cleveland, Trustee,
Elyria A Oberlin first mort-1 1897 6 F-A
100,000 Aug 1 1922
gags on 9 miles ($500) gold} Interest at Cleveland Trust C o., Trustee.
Clev B w V ^ yrA 'oberlln cons! 1899 5 g M-S
127.000 Aug. 1 1920
M $500,000 g ($1,000 each)}Interest at Cleveland Trust O o „ Trustee.
Subject to cal)._______ cp tj
N o t ., 1919.]
E L E C T R IC
STOCK AN D BONDS—
Date. Interest. Outstanding. Maturity.
Cleveland Elyria A Western! 1900 5 g F-A
#1.073,000 Aug. 1 1920
first mortgage $1,600,000 Int. at Cleve. Tr. C o., Cleve.. Trustee, or at
-Nat.
- Bank
- - o-f Commerce In N . Y .. May be
($1,000) gold______ cA rcpt
called at 100.
Elyria Grafton A Southern 1902 6 g J-J
100.000 Jan. 1 1922
Ry first mortgage guar Interest at Cleveland Trust C o.. Cleveland
anteed by C E A W ($100,
Trustee, and Equitable Trust C o., N. Y
000 ($1,000) gold____c*cpt
Can be called at par.
Norwalk _____
Gas A Electric.1first
900
6 A -0
110,000 April 1 1920
mtge, $110,000 ($500). g ./In t. at Guardian S. A Tr. C o.. Cleveland
Subject to call.............c o t l Trustee, or Chase National Bank. N. Y.
Cleveland
A Southwestern! 1903 5 g F-A
1,400,000 Feb 1 1923
first and consol mortgagellnt. at Guardian Sav. & Tr. C o.. Cleveland
$3,000,000($1.000)gcArcptl Trustee, or Equitable Trust C o., N . Y.
Ohio O Trac first mortgage! 1899 6 g J-D
95,000 Aug 1 1920
. closed ($1,000), goldc’ n tf/In t. N. Haven Tr. C o.. N . Hav., Conn.. Tr.
X)hlo Central Traction consol-f 1903
5 g M-S
305.000 Mar 1 1923
Idated mortgage
closed! Int. at Cleve. Tr. C o., Cleveland. Trustee, or
($500). g o l d -----------c * cp t( at National Bank of Commerce. N. Y.
Car trusts______________ 1917
6 M -N
60.000 See text
Bonds.— Of the $10,000,000 new bonds. $3,510,000 are reserved for prior
liens and $5,545,000 are for extensions, improvements, Ac. They are
subject to call after 10 years at 105 and accrued int. The Cleveland A
Southwestern bonds of 1903 are subject to call at 105 and int. #1,600,000
■af this issue are reserved to retire certain underlying bonds.
The Cleveland & Elyria 1st M . 6s of 1895 fell due M ay 1 1915. but were
extended to Aug. 1 1920. Callable any Int. date on 30 days' notice, as
follows: In 1917. 100?^: 1918. 100)4: 1919. 100 thereafter at par A Int.
Of the Cleveland Berea Elyria A Oberlin 5s dated March 1 1899. $300,000
remain In reserve for the retirement at or before maturity of the divisional
6s to a like amount. Those originally fell due on Mar. 1 1919, but have been
extended to Aug. 1 1920. The extended bonds are red. at par and int. on
any int. date. Of the $1,500,000 Cleveland Elyria A Western new
5s, $427,000 are reserved to retire prior liens. The Ohio Cent. Trac. Co
1st 5s originally matured on Juno 1 1919 but were extendod to Aug. 1 1920
The Ohio Central Trac. Co. consol, bonds may be called upon 30 days
notico at 105 and int. The Elyria A Oberlin 6s o f 1897 fell due Aug. 1
1917 but were extended to Aug. 1 1922.
EA R N IN G S.— For calendar years:
Year—
Gross.
Net (after Taxes).Int., &c.
Balance
1918 .... ....................$1,531,294
$300,806
$358,375
def.$57,569
1917............................. 1,407,768
276,177
340,995
def.' 64,817
469,803
332,284
sur.137.519
1916............................. 1,337,156
R OAD.— Operates 209 miles of track (of which 177 miles are on private
right of way) in and from Cleveland to Berea, Elyria. Oberlin. Norwalk,
Medina. Grafton. Wellington. North Amherst. Lorain. Creston, Chippewa'
Lake, Seville, Wooster. Llnndalo, Puritas Springs, Galion. Bucyrus, Crests
line, Mansfiold, Ashland. Nankin, Polk, West Salem, Lodi and Le Roy
60. 70 and 100-lb. rails. Standard gauge. Also does freight and express
business. Operates 66 passenger and 35 other cars; total, 101. Company
owns Puritas Springs and Seccalum Park and reaches Chippewa Lake.
Also owns and operates electric-lighting plant in Norwalk.
OFFICERS.— Pres., F. E. Myers; V.-P., L. J. Wolf; Sec. A Treas.
J. O. Wilson; Gen. M gr., E. F. Schneider; Auditor, M . E. McGraw!
General office, Garfield Bldg.. Cleveland.— V. 105, p. 180, 3S9, 1309
1617, 2455; T . 106, p. 607; V. 107, p. 82, 401; V. 108, p. 2241.
'
CLEVELAND PAINESVILLE & EASTERN RR.
ORGAN IZATION , Ac.— Incorporated in Ohio on April 25 1895. Road
completed in July 1908. Franchises expire from 1920 to 1935. in June
1906 acquired control of the Clev. Palnesv. A Ash. R R . V.82. p.1322, 1379
In 1913 purchased the United Light A Power Co. (stock Sion 0 0 0
bonds. #100.000).
'
Rate Increase.— L ^ e in 1917 was auth. by the Ohio P. U. Comm tc
Increase lighting and power rates.
Fare Increase.— In July 1918 was authorized by the Ohio P. U Comm
to increase passenger rates, effective Aug. 1 1918. V. 107, p. 401.
Wage Award by War Labor Board.— V. 109, p. 676.
Bond Extension.— On Sept. 16 1918 the company announced that be
cause o f abnormal financial conditions it would be practically imnnssihle
to refund at that ticna the $500,000 1st mtge. bonds and the $1 131 000 1st consol, mtgo. 5s duo Oct. 1 1918. The co., therefore arranged for
an extension o f the maturing issues to Oct. 1 1923 at 7% , extended bonds
are red. all or in part at 100 and interest on any interest date on 60 days'
notice. T. 108, p. 1274.
R A IL W A Y S
31
R OAD.— Operates 30 miles track between Palnesvllle and Ashtabula.
Put In full operation on July 30 1904 . 70-lb. T and girder rail used. Track
standard gauge. Connects at Palnesvllle with the Cleveland Palnesvllle A
Eastern RR. and at Ashtabula with the Pennsylvania A Ohio Ry.
OFFICERS.— Same as Cleveland Painesv. A East, above.— V. 9*.
p. 322; V. 98. p. 386; V. 104. p. 163, 256; V. 106. p. 2010: V. 107. p. 401.
CLEVELAND & EASTERN TRACTION CO.— A trolley road
ORGAN IZATION .— Incorporated In Ohio on May 18 1910 to succeed
the Cleveland A Eastern division (V. 90, p. 1613) of the Eastern Ohio Traotion Co. per plan In V. 89. p. 1541, 1596.
On M ay_ 3 1915
___ stockholders voted to amend the charter so as to permit
company to engage In electric light and power business. V. 100. p . 1509.
Fare Increase.— In July 1918 was authorized by the Ohio P. U. Comm. t«
Increase the mileage charge, effective Aug. 1 1918. V. 107, p. 401.
Wage Award by War Labor Board.— V. 109, p. 676.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common stock ($ 100)_______ _____
_______
$381,600
_____
Pref stock, 5% n-c ($1001 . - .................................
465.865 Apr. T8 1%
First mortgage. $763,200./ 1910
5 g J-J
763.200 July 1 1 932
gold ($1.000)__________ c* lln t. at Guardian 8av. A Tr. C o., Clev.. True.
Bonds.— Bonds subject to call, any or all, on any int. day, at 103 aad
Int.; began to draw int. Jan. 1 1912. V. 91, p. 336.
Dividends.—The first dlv. on the preferred stock— )4 % — was paid la
Nov. 1915. In 1916 and 1917. 3% each. In 1918, Jan. 1% ; April. 1% ;
none since.
E A R N IN G S.— For calendar years:
Year—
Gross. Net (aft. Taxes). Int.
Dividends. Surplus.
1 9 1 8 ....................$216,807
$67,017
$38,160
$9,317
$19,54*
1917
243,843
72,241
38,160
9,317
24,784
ROAD.— Operates 40 miles of track from Cleveland to Onardon, Rurtoa
and Mlddlefield. Ohio. Standard gauge. 60-lb. T rails.
OFFICERS.— Pres., H. P. McIntosh: V .-P .. Horatio Ford; Sec. and
Gen. M gr.. Robt. D. Beatty: Treas.. C . A. Taylor. Office. 708 Belmont
Bldg.. Cleveland, O.— V. 100. p. 1509; V. 101, p. 1627; V. 102. p. 4*T:
V. 106, p. 924; T. 107, p. 401; V. 109, p. 676.
CLEVELAND & CHAGRIN FALLS R Y . CO.
ORGA N IZA TIO N .— Incorporated in Ohio on Feb. 18 1910 to take ever
the Clev. A Chag. Div. of the East. Ohio Trac., sold Feb. 5 1910.
Receiver.— In July 1917 Judge Phillips in the Common Pleas Court at
Cleveland appointed Sec. A Gen. Mgr. Robert D. Beatty receiver on appli
cation of the Guardian Savings A Trust C o.. Cleveland. O.. mtge. trustee.
The trustee claimed that the road was unable to pay a judgment of $50,00#
awarded to a Mrs. Stroup for damages received on July 19 1915 when her
automobile was struck by one of the company's cars.
_ In Jan. 1918 capital stock was reduced from $300,000 (par $100) ta
$30,000 (par $10).
Wage Award by War Labor Board.— V. 109, p. 676.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturitu.
Stock. $30,000 ($10)..................................... ..........
$25,000
_______
Clev A Ch Falls 1st M$300.-/ 1910
6 g J-J
___________
251.900 Jan .1 1930
000 g ($100 A $ 5 0 0 )__ c*U nt. at Guar<yan Sav. A Tr. C o.. Clev . Trus.
Bonds.— Subj. to call any or all on any Int. date at 102)4 and Int.; $48,10#
are In treasury.
E A R N IN G S.— For calendar years:
Year—
Gross. Net (aft. Taxes). Int.
Surplus.
}918............................................. $95,568
$23,292
$15,114
$8,17*
1 9 1 7 --........................................ 85,411
16.484
15,114
.1,37*
.„ .w
R O A D .— Operates 12.01 miles of line between Cleveland and Chagria
Fall*. Standard gauge. 60 and 70-lb. T rail.
OFFICERS.— Gen. M gr., Robert D. Beatty; Pres., H. P. M clnt***:
A .-P., Horatio Ford: Sec. A Treas., C. A. Taylor.— V. 99, p. 1909; V. 1#6.
p. 715; V. 109. p. 676.
LAKE SHORE ELECTRIC R ~
ORGANIZATION.— The Lake Shore Electric Ry. was Incorporated aa
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain A Cleve
land R y., the Sandusky A Interurban Ry., the Sandusky Norwalk A South
ern Ry. and the Toledo Fremont A Norwalk RR
V. 73. p 784. About
half the road is built on private right of way. In Nov. 1917 the citv mt
Lorain granted a new franchise to the co. and its subsidiary, the Loraia
St. R R .. which was rejected on the ground that, the fare rate of six ticket*
25 cents was insufficient for profitable operation. On Mar. 22 1918 the
T :
* “ *<*• for
Lorain St. RR. obtained a new 25-year franchise which provides for a
straight 5-cent fare, and on Mar. 27 1918 a 25-year franchise was grant**
" & i
■ ! « * - 7-at« Morton
. v ° . -Trust
» ) o : o oCo.
o <NS TYK H
Interest
to the Lake Shore Elec. Ry.
Cleveland Trust C o., Clev.. Trustee.
Controls the Lorain Street RR. and the Sandusky Fremont A Souther*
Consol mort. (closed $1, i 1? 98 . X A " ° . „ !•131.000 Oct 1 1923
Ry.. which see below. Also controls the People's Light A Power Co and
631.000 ($1,000), g old.cp t Int. at Citizens' Sav. A Tr. C o.. Cleve.. the
Bellevue Illuminating A Power Co. On Aug. 1 1918 purchased 50%
.
„
.
.
Trustee, or Trust Co. of America. N. Y.
of the capital stock of the Ohio State Power Co. (The other 50% Is owne*
Bef^ n!l S xteaf,lon mt80. $5,-1 1908
5 g M -N
926.000 May 1 1948 by the Amer. Gas A Elec. Co. of N. Y .) In 1907 made contract to supply
000,000, gold($1.000)c*cpt] Int. at Clevel Trust C o., Cleveland Trustee* power to the ToledoFindlayA Fostoria and several other roads. V.85,p.l64S.
„
,
nn.
, l or company's agency in New York.
In 1910 charter was amended so as to transform the then existing 5%
Bonds.—-$o00,000 consols are reserved to retire underlying liens. The
pref. stock of $3,000,000 Into $1,000,000 6% cum. 1st pref. and $ 2
mtge.. originally for $2,000,000. was closed at $1,631,000 and the balance cum.
5% non-cum 2d pref. stock; V. 90. p. 698. At the same time
canceled. Ihe consols, originally matured Oct. 1 1918 and bore int. at 000.000
dividends on the old pref. stock (part of which had bee*
5% but were extended to Oct. 1 1923 at 7% . Of the refdg. and extension accumulated
Issued
later
the rest) were adjusted. V. 90, p. 1170, 1296'V 91 p 790.
bonds, #1,631.000 are reserved to retire prior lions, and $2,415,000 arc In Jan. 1915than
the articles of Incorporation were amended to enable the com
reserved for future extensions and impts., to be issued only when net pany
to
sell
and
puroosee
earnings for preceding 12 months have been not less than 25% in excess or in certain localities.distribute electricity for light, heat and other ^
v
interest charges on outstanding bonds, including those to be issued. $28,Ohio Utilities Comm, has from time to time authorized the comnanv
0#0 » r,° m the treasury. Subject to call M ay 1 1938 or on any interest to The
sell
additional
gen.
mtge.
bonds
aggregating
$428,000.
which
have
date thereafter at par and interest on 30 days' notice. The 1st mtge. been Issued and are held in treasury. On Feb. 10 1915 increased authorize*
bonds originally fell due April 1 1916 but were extonded to Oct. 1 1918, amount
of 1st pref stock from SI .000.000 to $1.500.000
r Zea
and again to Oct. 1 1923; in the latter case the int. rate was raised from
Fare Increase.— In July 1918 was authorized by the Ohio P. U Comm to
5% to 7%increase the mileage charge, effective Aug. 1 1918. V. 107, p. 402
'
R E PO RT.— For years ending Dec. 31 (excl. United Light A Power Co.)
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Calendar
Gross
Net
Other
Interest
Balance. Common. $4,500,000 (par $ 100)____
_____
$4,500,000
_
Year—
Earnings.
Earnings.
Income,
and Taxes.
Surplus.
1st pf$l,#00.000($100)6% c u m ____
Q-J
1.000.000 See text
I»1 8 ...................$510,455
$187,852
$10,858
$183,971
$14,738
2d pr S2,000.000(#100)5% n-c...............................
2.000.
000 N o dlv. yet.
1917................... 509,856
^ 212,447
8,000
169,656
50 791 First cons mtge, $4,000,000/ 1903
5 g J-J- „
1.690.000 Jan 1 192*
... — - t f ij T-r
. .
The results o f the United Light A Power C o. for 1918 were- Gross
($1,000). gold.............c*< Int. at Oltixens Sav. & Tr. C o., Cleveland.
#32.047: net, after taxes, $145,579. In 1917, gross, $29,251; net, after
Trustee, or Trust C o., of America. N . Y .
taxes, $9,233.
General mtge. $7,000 .#00 1903
5 g F-A
2.255,000 Feb 1193*
R O A D .— Owns road from Euclid, Ohio, to Palnesvllle and Falrport
($1,000), gold............. c * t f Int. at Citizens Sav. A T r. C o., Cleveland.
*4.02 mllas ("M ain L ine"), and uses Cleveland Electric R y. from Euclid
Trustee,
or
company's
agency In N . Y .
to Public Square. Cleveland, 10 miles; also owns "Shore Line,” extending Lorain A Cleveland 1st, gold
1897
6 g J-J
750.000 July 1 19*T
from Willoughby to Cleveland (St. Clair Ave. A 110th St.), 14.89 miles
($1,000). $1.000,000------tf Interest at Citizens' Sav. A Trust C *.
and uses the Cleveland Electric R y. C o.'s track from that point to the
Cleveland, or company’s agency In N . y !
Public Square, Cleveland, 5 miles. Total track operated (Including 4U T F A N 1st M $1,600,000 g
miles o f double), 46)4 miles. With the Cleve. Palnesv. A Ashtabula forms
guar ($500, $1 iOOG) —c* t?U n t°a t Union Trust C o . ^ ’^ o lt^ T n J tis 930
a continuous line from Cleveland to Ashtabula. 46 motor cars and 8 other
certifica te s. J 1917 6 J-J
140.800 See text
'
oars.
Power-house Is at Palnesvllle.
Car-houses at Willoughby and
$176,000-------------------------- /Guardian Savings A Trust C o., Clev., trw/st.
Nottingham.
Bonds.— Of the $4,000,000 first conaols, $2,250,000 are reserved to retire
OFFICERS.— Pres.,_E. W . Moore; V .-P ., F. H. Goff; V.-P. A Gen.
)r liens: $60,000 have been canceled; $4,000,000 of the gM wal mortgage
er cents are reserved to retire the first consols and $ 7 4 5 000 (of whir*.
8.000 have been certified by the trustee and are In tie a £ i^ ) tor n T m •Wns and lmpt*. at 80% of cost. Neither Issue is subj. to call. A sinJcino
». 676.
fund for the first consols, commenced Jan. 1 1909. retirine Sin nnn
(1)
Cleveland Palnesvllle & Ashtabula R R .— A trolley road E n
annum until 1914: from 1920 to 1922. to d .. $30,0M binds p e T a n i u ^ n f S
tirely over private right o f way, except through some of the villages 'where be
canceled^ The L A C . bonds are callable since July 11917 at nar^nd
franchises expire In 1927.
'
Int. The T . F. A N . bonds can be called at 110 and l i t ! on any iEt date
Default— Committee.— Jan. 1 1917 and subsequent Interest Is In default
npon
90 daysnotice.
A sinking fund on the T . F. A N . bonds of $10 00#
The following committee la asking deposits o f bonds with the Cleveland
Trust Co.: A. G. Tame. H. D . Mossick and J. A. House, all of Cleveland- P « *nnum commenced In 1905 and runs to 1909. to d .: from 1910 to 1914
V. 104. p. 256.
vjieveiana,
W o9,!? - * ™ '000 p ®
$ 3 0 3 W b o i d i 0w S e h i a
l„ O R G A N IZA TIO N .— Incorporated in Ohio In 1902.
$^7 600 each July ‘l1’ 1 1919' Th° * * trust certificates of 1917 mature
Fare Increase.— In July 1918 was authorized by the Ohio P. U Comm to
k
°ed
s
*re
*
fir81
Hen
on the division between
Increase the mileage charge, effective Aug. 1 1918. V. 107. n 401
'
P16
bcrxls are a first lien on the road between
m Wage Award by War Labor Board.— V. 109, p. 676.
"
'
Cleveland and Lorain; and the 1st consol, bonds a first Uen on all other
r;S T O C K AND BONDS—
Date.
Interest. Outstanding
Maturitu
lines and also a second mtge. on the divisions noted above.
$1,000,000
Stock, $1,000,000 ($100).......................................
Dividends.— Initial dlv. on 1st pref., 1 )4 % , paid Oct. 1 1910; same
First mortgage $1,000.0001 1902
5 g J-J
1,000.000 J u iy "i“ I«25 amount quarterly to and including April 1915. July 1915 dividend omitted
gold ($1,000)--------- c ’ .c p t /I n t , at Cleveland Trust C o.. Cleve Trustee
(V. 101. p. 47). None since.
Bonds.—No sinking fund and bonds cannot be called. See V 7 s n sao'
— ^ °r years ending Dec. 31. excluding Lorain Street R R .;
R E PO R T .— For years ending Dec. 31:
'
p ' a4y' a
Sandusky Fremont A Southern Ry. and light and power companies.
Years— Gross.
Net.
Other Inc. Int. A Taxes
Deficit. Vfor—
Gross.
Net(aft. Tax.) Olh.Inc.
Interest.
Surplus.
1918.............$162,794
$14,964.
$307
$78,434
$63,470
1918...........$1,734,660 * $172,860
...........
$343,503
S129,35r
1917............. 154,772
21,862
190
77,804
55,752 1917 ........... 1,419,750
.,465,026
______
3
3
4
,
5
7
7
1
3
0.449
1916............ 158,619
fc:53,461
219
78,047
24.364 1916 ........... 1.252,234 448,634
25.000
339,89Sjrf #133.732
O
ELECTRIC RAILWAYS
32
Passengers carried in 1918, 5,947,163; in 1917, 6,241,350.
Earnings for 1918 o f the People's Lt. & Pow . C o . were: Gross, $20,416;
net, after taxes, $5,049; and o f the Bellevue 111.
P ow . C o ., gross, $34,196;
net, after taxes, $11,787.
R O A D .— Operates 180 miles, extending from Cleveland to T oled o and
8andusky, and from Sandusky to N orw alk; also city lines in Sandusky;
standard gauge; 70 to 100-Ib. rails. Through line from C lev. to T oledo was
opened for business about Aug. 26 1902. In addition owns the Sandusky
Fretnont & Southern. 20 miles, and the Lorain Street R R „ 2t.77 miles,
making a total o f 216.77 miles. 114 passenger, 7 baggage, 52 work and
freight cars. T ota l, 173.
O F F IC E R S .— Pres.. E . W . M oore, Cleveland and N . Y .: V .-P s .. F . H.
G o ff and A . Lewenthal, Cleveland; V .-P ., Sec.-Treas. & G en. M g r., F . W .
C oen, Sandusky, O .; Asst. Sec. & A sst. Treas., M . E . W hite.— V . 104, p.
2118; V . 105, p . 2184, 2543; V . 106, p . 2116, 2345; V . 107, p . 402; V . 108, p
2123.
Sc
(11 Lorain Street R ailroad Co.— A trolley road.
O R G A N IZ A T IO N .— Incorporated In Ohio on A ug. 3 1906 and Is a con
eolidatlon o f the Lorain St Railway and the A von Beach A Southern R R
Entire stock owned b y the Lake Shore E lec. R y . Operates on private
right-of-w ay except three miles in Lorain and E lyria, on which franchises
run until M arch 1943.
S TO C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity
Stock $2,009,000 ($100)................ ..........................
$2,000,000 ------ - - -
Lorain St RR notes ($1,000.1 1915
6 Q-J................. 200,000 Jan 1 1920
$500 and $100)___________ (In t. at Citizens' Sav. & i r. C o .. C le v ., Trus
Lorain St Ru 1st M $750.0001 1899 5 g M -N
550.000 N ov 1 1949
gold ($1 000) .............. c * .t f Jlnt. at G uaranty Trust C o .. N . Y . , Trustee.
First consol intge $2,000,000/ 1900
5 g J-J
See text July 1 1936
Trust C o .. Cleveland
gold guar $1.000)____ c * .t f JInt. at Citizens’ Sav.
( Trustee, or A gency in New York.
— O f the $2,000,000 cons, bonds. $750,000 are reserved for prior
liens and $750,000 for extensions, & c. T h ey are guar., prin. and in t., by
endorsem ent by the Lake Shore E lectric R y . T he notes are secured by
$200,000 Lorain St. R v consol m tge. 5s (now a first lien) and $100,000 first
consol. 5s o f 1906
They are guar., p .
i. (end.) b y the Lake Shore Elec
R y . and are callable at par and int. on any Int. date on 15 days notice
C on v. Into 1st M . 5s upon a basis o f 9 2 or upon adjustm ent o f discount
and interest. The notes were issued to retire $200,000 Lorain St. Ry
bonds due Jan. 1 1915. T hey fell due originally in 1918 but were extended
for 2 years.
R E P O R T .— For calendar years:
.,
„
,
Cal. Yrs.— Grosslnc.
Exp. & Tax. N et Earns. Int.Paid
Surplus.
1 9 1 8 ............... -$288,980
$199,628
$89,353
$57,108
§32,244
1917__________ 218.716
149.415
69.300
;>4,50o
14,795
Passengers carried in 1918, 4,273,220; in 1917, 3,711,368.
R O A D .— Operates 24.77 miles o f track between E lyria. Lorain and
Beach Park. Standard gauge. 24 cars. V . 105. p . 21S4, 2543.
(2) T h e S a n d u sk y F rem on t & S o u t h e r n R y .
O R G A N IZ A T IO N .— Incorporated In Ohio In April 1906. Is operated
as part o f main line o f Lake Shore Electric R y . between Cleveland and
T oled o. Lake Shore E lec. R y . owns entire stock . Private right o f way.
8 T O C K A N D B O N D S—
Stock 42 000 000
____ — Owned b y the Lake Shore E lectric R y .—
First m ortgage. $2T(W0,000. f .1906
5 g J-J
$645,000 July 1 1936
gold ($1,000). guar___c ’ t f j l n t . at Citizens Sav.
Trust C o .. C leve.,
I Trustee, or at A gency in N ew Y ork.
Bonds.— Are guaranteed, prin. and Int., b y endorsem ent, by the Lake
Shore Elec. R y .: not subiect to call. See V . 83. p . 1099.
R E P O R T .— For calendar years;
Sc
Bonds.
Sc
Date. Interest. Outstanding. Maturity
Sc
Calendar
Y ea r —
Gross
In c o m e .
E x p en ses and
N et
T a xes.
E a r n in o s.
Interest
P a id .
Balance.
D eficit.
1915
..$ 1 1 1 ,0 7 1
$93,877
$17,193
$32,250 def.S15.057
1917-—
98.615
72.906
25.709
32.250
6,541
92,716
61,394
31.322
32,250
928
1916 _____
Passengers carried in 1918, 287,165; in 1917, 345,0S0.
R O A D .— Operates a line from Sandusky to Frem ont, 20 miles. 14 cars.
— V . 83. p . 97. 1099.
_________
C L I N T O N ,
CLINTON STREET R Y .
I O W A .
„ .
___
_
.
It
. _
O R G A N IZ A T IO N .— Incorp. In Iow a Feb. 4 1891. Under Its charter
the co . is auth. to conduct a street railway, light, power and heating busi
ness.
covering main street o f the city is perpetual; others
expire 1935 and 1938.
S T O C K A N D B O N D S—
St.nok *1 000 000 ($100)
________
$596,600 See text.
First nfor’t gage $400,000 gold 1 1906 5 g A -O
400.000 M ar 31 1926
($1 000)
- - -C*| Int. at Illinois T r. & Sav. B k.. C hic , Trustee
— Callable at 105 and int. on any int. date on 90 d ays’ notice. A
supplemental mortgage provides that beginning April 1 1918 a fund o f 2 %
o f the bonds outstanding or retired by this fund be established to be used
for renewals, betterm ents. & c., or for the purchase o f bonds up to 105
Franchise
Date. Interest. Outstanding. Maturity.
Bends.
811DivUUmds. — Paid1(6 % Pdivid*ends from 1907 to 1913, Incl. (except 5 % in
1912)
In 1913 the stockholders advanced a substantial sum for construc
tion . & c., and waived dividends while this sum was being paid out o f earn
ings; 541.400 was so paid in 1916.
E A R N IN G S — For year ending D ec. 31 1918. gross, S183.698; net, after
taxes. S67.43S. In 1917, gross, $182,415; net. after taxes. $70,236.
R O A D & c.— A bout 16 miles o f single track equivalent and 32 single truck
cars. Current is purchased from the Clinton Gas & Electric C o . Inter
urban cars 'rom Davenport enter to centre o f city over the com pany s
tracks under traffic agreement.
O F F IC E R S .— Pres.. C . II. Young: V .-P ., R . C . Langan- S ec.. A . L .
Schuyler; T reas., C . G .C oa n ; G en. M g r., Bernard Bohnsen.
V . 1 04,p.»62.
C O F F E Y V I L L E ,
Date. Interest. Outstanding. _ Maturity.
5 J-J
S P R I N G S ,
C O L .
C O L O R A D O S P R IN G S & IN T E R U R B A N R Y .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In A ug. 1902 as a c o n s o l i d a t i o n o f the
C o l o r a d o S p r in g s R a p id T r a n s i t R y . a n d the C o l o r a d o S p r in g s Sc S u b u r b a n
R y . E ffective June 8 1919, was auth. b y the C olo. P. U. C om m , to in
crease fares from 5 to 6 cents. V . 108. p. 2433. T he consolidated com pany
has issued $1,500,000 stock, o f which $500,000 pref. Bonds ($1,000, 5 %
M -S ., due Sept. 1932, Central Trust C o ., N . Y ., trustee) auth. and issued,
$1,500,000.
E A R N IN G S .— For cal. year 1918; gross. $367,476: net, after taxes.
$98,509. In 1917, gross, $380,443; uet, after taxes, 399.05S.
R O A D .— Owns 38 miles ot track.
O F F I C E R S . — P r e s .. D . H . R i c e ;
V .-P ., W . L e u n o x '
« e c .. W m . L lo y d :
T rea s., C . S. Cham berlin.— V . 70, p . 75, 175, 328; V . 108, p. 2433.
C O L U M B I A ,
S .
C .
C O LU M B IA R A ILW A Y . QAS & E L E C T R IC CO.
ORGAN IZATION .— Does the entire street railway, electric Ilghtlnvf.
power and gas business In Columbia, S. C .— Name changed from Columbia,
Electric Street R y.. Light Sc Power to the above on May 15 1911
V. 92.
p. 1374. Is a consolidation on July 1 i905 of the Columbia Electric St. Ry...
L t. & Pow. Co. and the Columbia Water Pow. Co
The first-mentioned'
was organized in So. Caro. Jan. 6 1892 and was a consolidation of the Colum
bia Elec. Sc Suburban Ry. Co. and the Congaree Gas Sc Electric r'o . A c
quired the Columbia Sc Eau Claire Electric Ry. Owns ail the stock and
bonds of the Columbia Gas Light C o., which Is also leased. Operates under
rights granted by State of So. Caro, (which owns the city streets) expiring
Dec. 16 1911. Gas franchises granted by State and city franchises covering
all departments are without limit of time.
In June 1912 acquired Parr Shoals Power Co. (stock $2,090.(100 c o m ., all
owned, and $300,000 pref.), which on May 30 1914 placed in operation its>
new hydro-electric station (present capacity 18,000 h.p.: ultimate capacity
30.000 h.p.) on the Broad River, near Alston, S. G ., 2 7 ) 4 miles northwest
of Columbia, supplying the requirements of the controlling co . (V. 95, p .
1122; V. 98 o. 154, 1844.)
A„
Fares.— Effective July 1 1919, the company put into effect a flat 7-cenb
cash fare, tickets being sold at 4 for 25 cents. V. 109, p. 477.
„ __
• T h e $ 1 0 0 ,0 0 0 C o l . C a n a l C o . 6 %
b u t w ere e x te n d e d fo r tw o yea rs.
b o n d s o r ig in a lly m a tu r e d J a n . 1 1 9 1 9
STOCK AND BONDS—
Date.
Interest.
Common. $2,000,000 ($100)....................... ..........
PreL.^S 1.000.000. 6% c u m .^ ____
Q-J
Outstanding.
Maturity.
$2,000,000 July’ 19 45%.
894.000 July 19. 145,
First m ortgager$77500.000.} 1911 5 J-J
2.685,000 July 1 1936gold ($1.000)...............c * tfiIn t. at c o .’s office or at Ohe-mical Nat. B k ..
IN. Y. Columbia Trust Co.. N. Y .. Trustee.
Parr Shoals P pfd stk $300,000 ___
7%
300.000
------Parr Shoals P 1st mtge. $3.-1 1912 5 g A-O
3.000.000 Apr 1 1952
000.000 ($1,000), goldc*tf'C olu m bia Trust C o.. Trustee.
,
Ool Canal Co mtg, $ 2 0 0 .0 0 0 tf___
6%
100.000 Jan. 1 1921
Bonds.— Of the outstanding first mtge. bonds of 1911. $68,000 are deposljjd to guar. int. ou Cana-’ ( n . 6s. Of unissued bonds, $200,000 are reserved
to retire Canal Co. boi 6a. t,nd $4,.497,000 for Improvements, additions, ac
quisitions. &c.. under certain restrictions. Bonds are subject to call on any
Int. date at 105 and Int. Since July 1 1912 an amount equal to 1% of bondsout must be expended for lmpts.. &c., against which no bonds may there
after be Issued, and since Dec. 15 1915 a further 1% for retirement o f
bonds. See V. 93. p. 229. Parr Shoals Power bonds are guaranteed,
p. Sc i., by end., by the Columbia R y.. Gas Sc Elec. Co. Sinking fund of
4$ of 1% semi-annually of bonds out from 1918 to Jan. 1 1052 incl. They
are subj. to call at 105 Sc int. on 60 days’ notice. Lit. payable In N. Y .
Dividends.— First div. on pref.— 3 % — paid July l 1906: Ian. 1907, 3 % .
None to July 1911, when accrued Ovs. were paid up In full: 1 4 % Paid'
qtiar. since to and including July 1919. Initial div. on common— 4£ % —
paid Oct. 1917. In 1918, Jan., 45%; July, 45%; Oct., 45%• In 1919.
Jan., 45%: July, 45%.
’
EARNING S.— For calendar years:
.
,
Year—
Gross.
*Net.
Interest. P ref.D ies. Com.Divs. Surplus.
1918............$1,562,152 $315,624 $239,321 $53,640 $40.000def$ 17,337
1917............. 1.176,658
420,553
159.025
51.768
5,000
204.760
* After deducting operating expenses, taxes, int. on Parr Shoals bonds
and divs. on Parr Shoals pref. stock.
R O A D . — O p e r a t e s 2 5 - 1 5 m ile s o r t r a c k : 5 0 c a r s .
w ith a t o t a l c a p a c i t y o f a b o u t 1 8 .0 0 0 h . p .
O w n s 2 p o w e r p la n ts
OFFICERS.— Pres. & Treas., E. W . Robertson: 1st V .-P ., Henry Par
sons; Sec.. It. Chariton Wright; Ocn. M gr., V. S. Wright.— V. 102, p. 975.
1060, 1625; V. 104, p. 14S9; V. 106, p. 924, 929; V. 109. p. 477.
COLUMBCJS, GA. .
CO LU M BU S E L EC TRIC CO .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a i n e o n F e b . 6 1 9 0 3 a n d o w n s a l l
t h e s t o c k o f t h e G a s L i g h t C o . o f C o l u m b u s ; t h e e n t ir e c o m m o n s t o c k
a n d $ 1 2 1 ,3 0 0 o f t h e p r e f . s t o c k ( o u t o f 3 3 5 0 .0 0 0 ) o f t h e C o l u m b u s P o w e r
C o . , a n d a ll t h e s t o c k o f t h e C o l u m b u s R R . C o . : a ls o g u a r a n t e e s t n e b o n d s
o f t h e C o lu m b u s P o w e r C o . a s t o p r in c ip a l, sin k in g fu n d a n d In te r e s t.
T h e a b o v e c o m p a n i e s d o t h e e n t ir e e le c t r ic r a i lw a y a n d l i g h t i n g , g a s a n d
p o w e r b u s in e s s o f C o l u m b u s a n d v i c i n i t y a n d t h e a d j o i n i n g t o w n s o f
P h o e n i x C i t y a n d G i r a r d , a n d a w h o le s a le p o w e r b u s in e s s in C o l u m b u s ,
N e w m a n , H o g a n s v ille , L a g r a n g e , L a n e t t e . T r im b le . G r a u tv t lle , M o r e la n d
a n d W e s t P o in t.
Franchises p e r p e t u a l . T h e fr e ig h t, lin e s a r e le a s e d t o t h e
S e a b o a r d A i r L i n e R y . f o r 5 0 y e a r s f r o m O c t . 1 7 1 9 0 1 a t a r e n ta l o f $ 7 , 5 0 0
per a n n .
$ 1 1 5 , 0 0 0 p r o f, s t o c k Is h e ld b y t h e P u b lic S e r v ic e I n v e s t m e n t C o .
I n J u ly 1 9 1 9 b r o u g h t o u t $ 1 ,7 5 0 ,0 0 0 3 -y e a r 6 % n o te s , p ro c e e d s b e in g u s e d
t o r e t ir e a n is s u e o f $ 1 , 5 0 0 , 0 0 0 6 % n o t e s d u e a t t h a t t i m e , a n d t o p r o v i d e
f o r t h e c o m p a n y ’ s f l o a t i n g i n d e b t e d n e s s , a m o u n t i n g t o $ 1 7 0 , 0 0 0 , in c u r r e d
fo r a d d it io n s a n d e x te n s io n s .
V . 108, p . 2629.
STO CK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
C o i n , S t . 5 0 0 . 0 0 0 ( $ 1 0 0 ) ............ - .....................................
$ 1 ,6 0 0 ,0 0 0
............................
P r e f , 6 % c u m , $ 1 . 5 0 0 . 0 0 0 ( 5 1 0 0 ) _____
J -J
1 ,2 0 0 .0 0 0 J u l y '1 9 .3 %
1 st c o l l M . $ 1 , 5 0 0 , 0 0 0 . g o ld I 1 9 0 3
5 g A -O
7 5 8 .8 0 8 A p ril 1 1 9 3 3
($ 1 0 0 0 ) ........................... o * n t C I n t . a t O l d C o l o n y T r . C o . . B o s t o n T r u s t e e .
3 -y e a r n o te s $ 2 ,5 0 0 ,0 0 0 g o ld / 1 9 1 9
6 g J -J 1
1 .7 5 0 .0 0 0 J u ly 1 1 9 2 2
( $ 1 0 0 . $ 5 0 0 Sc $ 1 , 0 0 0 ) _ c * t f \ I n t . a t C o m m o n w ’ t h T r C o . , B o s t o n , t r u s .
C o lu m b u s P o w 1 st M $ 4 ,0 0 8 .-1 1 9 0 6
5 g A -O
3 . 7 6 0 , 0 8 8 A p r il 1 1 9 3 6
0 0 0 g o l d g u a r __________ c * t f l L i t . a t C o m m o n w . T r . C o . , B o s t o n , t r u s t e e .
— T h e b o n d s o f t h e C o l u m b u s E l e c t r i c C o . a r e s u b j e c t t o c a ll a s a
w h o le a t 1 0 5 Sc i n t .
$ 5 3 , 0 0 0 a r e in t r e a s u r y .
A n “ Im p ro v e m e n t fu n d ” o f
2%
p e r a n n u m o f o u t s t a n d i n g b o n d s c o m m e n c e d In 1 9 8 5 .
T h e 2-y e » r
n o t e s a r e c a l l a b l e a s a w h o le o n a n y i n t . d a y o n 3 0 d a y ’ s n o t i c e a t 1 0 3 a n d
in t.
V . 105, p. 817.
T h e C o l u m b u s P o w e .- C o . b o n d s a r e c a l l a b l e a s a
w h o le (o r in p a r t f o r s in k in g f u n d ) a t 1 1 0 a n d i n t . o n a n y l u t . d a y .
A
sinking fund o f 1 % o f b o n d s o u t b e g a n A p r i l 1 1 9 1 2 . $ 2 4 0 , 0 0 0 p u r c h a s e d
fo r s in k in g fu n d a n d c a n c e le d .
B o n d s a r e g u a r ., p . Sc i . . a n d s . f . . b y
C o lu m b u s E le c tr ic C o .
— C a lla b le a s a w h o le a t 1 0 0 a n d in t . o n a n y in t. d a te u p o n 3 0 d a y s
n o tic e .
S h o u l d t h e c o m p a n y p l a c e a n y f u r t h e r lie n o r e n c u m b r a n c e o n
t h e p r o p o r t y , i t w ill s e c u r e t h i s is s u e o f n o t e s e q u a l l y .
T h e o u ts ta n d in g
a m o u n t o f f i r s t m t g e . c o l l , t r u s t b o n d s w i l l n o t b e in c r e a s e d u n le s s t h o
p r o c e e d s a r e u s e d t o r e t ir e n o t e s o f t h i s s e r ie s .
V . 108, p . 2629.
Dtmaends.— F i r s t d i v . o n p r e f . s t o c k . 3 % . w a s p a id J a n . 1 9 0 7 ; 3 % h a s
b e e n p a id s e m i -a n n u a l l y s in c e t o a n d I n c lu d in g J u l y 1 9 1 9 .
P R O P E R T Y . — 2 6 .3 m ile s o f e q u iv a le n t s in g le t r a c k , o f w h ic h 5 m il e s
le a s e d t o S e a b o a r d A ir L in e u n t il 1 9 5 2 .
4 8 c a r s ; 2 s t e a m lo c o m o t iv e s
( le a s e d t o S . A . L . R y . ) .
S ta n d a r d g a u g e .
C o n t r o ls h y d r o -e le c t r ic p la n t s
w it ti a c a p a c i t y o f 1 8 , 9 0 0 k . w . , a n d a s t e a m p l a n t o f 9 , 0 0 0 k . w . c a p a c i t y .
E A R N I N G S . — F o r 12 m o n th s e n d in g J u n e 3 0 :
June 3 0
Gross
Net. after
Interest
Sinking A
Balance.
Bonds.
Notes.
K A N .
O R G A ^ Z ^ T I O N AY Incorporated Sept. 28 1906 in Kansas. In D e c.
1916 was granted a perm it to d o business in Oklahom a. Franchises expire
1957. Road is on private right o f way except in C ofreyville, Independence,
Cherryvale and Parsons.
________
.
Fare Increase.— In Sept. 1918 was auth. b y the I .-S . C . C om m , to in
crease fares between Parsons and C offeyville. and N ow ata. O kla., and
interm ediate points to not to exceed 2.6 cents per m ile. V . 107, p. 11J4.
STOCK A N D BONDS—
$500,000 See text
S tock . $500,000
957,000 „ Jan 1 1937
First m tge, $1,000,000, g o ld / 1907
„ - ($1,000). sinking r u n d . . t f ( Warren (P a .) Trust c ° v T j ^ e e , 1091
6 A -O
100.000
Oct 1 19-1
Second m ortgage___________ t f 1911
Bonds.— 1st M . bond 9 are red. ann. b y lot at 105 and Interest since Jan.
1912, through a. f.; $43,000 have been retired. S. f. o f 10% o f net earnings
annually began in 1911. Int. at N at. C ity B k ., N . Y .; Com m ercial N at.
Bank. C h ic., and Tradesm en's N at. Bank. Phila. See V . 88. P- 100A
Dividends.— A div. o f 6 % was paid during the fiscal year end. June 30 13 .
E A R N IN G S .— For year ending D ec. 31 1917. gross, $382,059; net, after
taxes, $100,034; int. on b ond s, A c., $73,905; surplus, $26,129.
R O A D .— Operates 67 miles uf road, o f whlcti 944 in. In C offeyville, 7
miles in Independence and 504$ miles o f interurban road between O offeyville. Independence, Cherryvale and Parsons. 70-lb. T rails. Purchases
pow er from the Kansas Gas Sc E lec. C o.
O F F IC E R S .— Pres.. D H . Slggina. W arren. P a .: S ec.. H . A . Siggins;
T re a s.. Sam Q. Sm ith.— V . 105. p . 2544; V . 107, p . 1194. 2377.
C O L O R A D O
[V o l . 109
Year —
Earnings.
Taxes.
C h a rg es.
Impt. Fds.
Surplus.
1 9 1 9 ................. $ 1 , 1 9 9 , 8 9 9
$ 5 5 0 ,2 4 4
$ 3 5 6 ,0 7 5
................
$ 1 9 4 ,1 6 0
1 9 1 8 _________
1 ,1 7 8 .3 9 6
7 1 2 ,7 3 0
3 2 5 ,2 3 0
-------------3 8 7 ,5 0 0
O F F I C E R S . — P r e s .. H a r r y H . H u n t ; S e c . , A l v a h K . T o d d ; T r e a s . .
H e n r v B . S a w y e r ; G e n . M g r s . . S t o n e Sc W e b s t e r M g t . A s s n . , B o s t o n . —
V . 105, p . 817; V . 106, p . 395; V . 107, p . 1919; Y . 108. p . 2629.
COLUMBUS, IND.
IN D IA N A P O L IS C O L U M B U S & S O U T H E R N T R A C T IO N C O .
— I n D e c 1 9 1 2 w a s le a s e d f o r 9 9 9 y e a r s t o t h e I n t o r - S t a t e P u b l i c
S e r v ic e C o . , a s u b s id ia r y o f t h e M id d le W e s t U t ilit ie s C o . , a t a r e n ta l o f 5 %
o n t h e c a p i t a l s t o c k , o r $ 9 2 , 0 0 0 a y e a r a b o v e a ll t a x e s .
V . 95. p. 680.
See
I n t e r - S t a t e P u b li c S e r v i c e C o . In V . 9 5 , p . 1 7 4 5 ; V . 9 6 , p . 1 1 5 7 .
Lease.
O R G A N I Z A T I O N . — F o r m e r ly t h e I n d ia n a p o lis G r e e n w o - d & F r a n k lin
RR
w h ic h c o m p a n y w a s in c o r p o r a t e d In I n d i a n a In 1 * 9 5 .
N a m e changed
a s a l i o v e l n J a n . 1 9 0 3 . In S e p t . 1 9 1 2 I n c r e a s e d l t s a u t h . s t o c k to $ 1 , 8 4 0 , 0 0 0 .
S T O C K A N D B O N D S .—
Date.
Interest. Outstanding
Maturity.
S t o c k * 1 , 8 4 0 0 0 0 __________ _________ ____________________
$ 1 ,8 4 0 ,0 0 0
S ee t e x t
K i r .t
m o rtg a g e .
$ 1 ,0 0 0 .0 0 0 1 1 9 0 3
5 g F -A
< 1 3 2 .0 0 0 F e b
l 1925
g o l d ( $ 1 . 0 0 0 ) ____________c U f U n t . a t C o m m e r c i a l T r u s t C o . . P h ila . T r u s t .
Bonds.— C a n n o t b e c a llt x l. $ 6 8 , 0 0 0 a r e r e s e r v e d fo r e x t e o . a n d l m p t s .
a t n o t e x c e e d in g $ 1 5 ,0 0 0 p er m ile .
See V . 7 6 . p 6 5 4 ; V . 8 2 . p . 1212.
R O A D . — O p e r a te s 6 2 .3 8 m ile s o f tr a c k b e tw e e n In d ia n a p o lis . F r a n k lin
a n d C o l u m b u s a m i S e y m o u r , o f w h ic h 3 . 8 6 m il e s b e l o n g t o l n d . T r a c Sc T e r .
C o.
S ta n d a rd g a u g e .
6 0 -l b . T r a il.
M o s t ly p r iv a te r i g h t -o f -w a y .
It
c o n n e c t s w it h I n d i a n a p o l i s & L o u i s v i l l e E l e c . R y . . t h u s f o r m i n g a t h r o u g h *
lin e f r o m I n d i a n a p o l i s t o
L o u is v ille .
_
O F F I C E R S . — P r e s .. W m . G . r r w in : V . - P . . L . 1 . S w e e n e y : S e c . Sc T r e a s H u g h M i l l e r , a ll o f C o l u m b u s . I n d . — V . 8 6 . p . 4 2 1 ; V . 9 5 . p . 6 8 0 .
tfov., 1919.J
ELECTRIC RAILWAYS
C O L U M B U S ,
O H I O .
C OLU M BU S R A IL W A Y . PO W E R & L IG H T C O .
— In Jan. 1919 Messrs. E . W . Clark & C o .. P hlla.,
withdrew from the m anagem ent o f the co . In fa vor o f Colum bus Interests.
O R G A N IZ A T IO N .— lncorp. In Ohio N ov. 1913 to succeed the C olum
bus Traction C o. (lncorp. Dec. 26 1906 as successor to the Central M arket
St. H y.. sold under creditor's bill In Feb. 1906, subject to the $500,000
bonds) and took over the Columbus B y. C o. and th* Colum bus Edison C o.
as per plan In V. 96, p. 1839. The leases between these tw o cos. and the
Columbus Ky. & Lt. O o. were then canceled. The Colum bus L t., H t. A P.
C o. was acquired In Jan. 1915. See “ Elec. B y . Section” for Jan. 1915.
Owns and operates the city street railway system o f Columbus and su b
urban lines to Marble C liff and W esterville, ana the com m ercial electric light
and power systems o f the city and vicinity. Franchtses for 20 84 miles
o f railway are perpetual; others expire in 1919. 1926 and 1942. The fran
chises provide for 8 tickets for 25 cents and universal transfers. T w o of
the light and power franchises are perpetual; others expire ui 1928 and 1928.
In June 1917 a new franchise for 25 years was granted on the W ester
ville line, providing for a zone system with a sliding scale o f fares ranging
from 2^4 to 6c. per zone. (In July 1919 fares were Increased from 5V4 to 6c.
per zone. V . 109, P- 270.) The com pany is to be allowed to earn 6 % on
its then existing Investment (fixed at $350,000). and 8 % on future capital
Invested. The public m ay purchase the W esterville lino at an Increase o f
10% over the actual value at time o f purchase
— On M ar. 18 1918 the co. subm itted the results o f Its appraisal
(ordered In June 1915 In connection with light and power rates) to the
Ohio P U C om m ., placing a valuation o f $7,105,809 on the properties
used In electrical operation (except In railway and district heating). V.
106 p 1344
In M a y 1918 the engineers o f the Ohio P. U . C om m , placed
a reproductive value o f only $6,240,046 and a present value o f $5,725,963
upon the same p roperty. V . 106, p . 2345. T he physical property o f the
c o (exclusive o f allowance for going value, franchises and other intangible
values) has b een a p p ra ised at $ 2 o!) 58 680. V . 107. p . 1287.
F a res__On Feb 25 1918 the C ity Council o f C olum bus, O ., turned
dow n the c o ’s application for an increase in ticket fares to 6 tickets for
25 cents
T hey also ignored the c o .’s offer to surrender its present fran
chise in exchange for a new franchise giving to the city control o f the service,
extensions Impts. and betterm ’ ts. on a sliding scale o f fare that would pay
the cost o f service, such cost to include a reasonable return on the invest
ment
V 106 p. 1036. In Aug. 1918 the co. began charging a straight
Accent fare with a one-cent charge for transfers. On O ct. 27 1918 the
it n n ist C ourt held that the co. must adhere to its franchise obligations,
v ’ 107 p 1747
The co. appealed, but on April 14 1919 tho U . S. Supreme
C ourt affirm ed the decision or the Federal C ourt. V. 108. p. 1822. Com pare
V 108 P 77
In Jan. 1919, how ever, after the change in management,
the co ’went back to tho old rate o f 8 tickets for 25 cents, but applied to tho
C itv Council for auth. to charge a 5-cent cash fare with 6 tickets for 25
ronts and no transfers except on cash fares. On Aug. 13 1919 tho voters
Hnfnated an ordinance authorizing the co. to sell 6 tickets for 25 cents.
V 109 P 774. 837. Com pare V. 108. p. 1511, 1721, 1822.
— On Sept. 9 1918 a resolution was introduced in
the Colum bus C ity Council to requost the C apital Issuos C om m ittee's
approval o f a bond issue by the city , the proceeds o f which to be used
In acquiring the com pany’s properties. See V . 107, p . 1192.
In Jan 1916 $3,500,000 1st ref. & ext. sinking fund bonds were sold to
E VV Clark & C o ., Phlla., and Kissel, Kinnlcutt A C o ., N . Y ., to take up
SI 200 000 notes and $1,439,000 underlying liens on the power and light
oropertlm and provide for im provem ents, extensions, A c. V. 102. p. 521.
In March 1917 tht Ohio P. U. C om m . auth. the co . to issue $508,200
Series A prof, stock at par and $1,846,000 ext. & ref. M . 5 % bond* to reim
burse the treasury for impts made In 1916 and for new extensions (prin
cipally the construction o f a new central generating station, costing a p
proxim ately $1,000,000, o f which the first section was put Into operation
about M ar. 1 1918). V. 104. p. 951: V. 105. p. 606.
— On July 2 1918 carmen who had struck on June 30 1918 for
higher pay and shorter hours and the reinstatement o f union carm en who
had been discharged, returned to work, agreeing to subm it the controversy to
she N ational W ar Labor Board. V . 107, p .8 2 . Seealso V . 109, p. 981. 1079.
In July 1918 Issued $3,000,000 2-year 7 % notes, part o f the proceeds
being used to pay o ff $677,000 1-yr. notes due A ug. 1 1918 and the re
mainder for im pts., &c. V . 107, p . 1287.
ST O C K A N D O N 0 9 —
Date.
Interest
Outstanding
Maturity.
$6,041,230 N o v ’ 17. t k
C om m on, $8.080,000---------------------------------13.000 A pr ’ 18. 1%
Prior pref stock $ 3 ,'4 5 ,0 0 0 .-- - - —
4%
1,634.918 A pr '18. 1 H
“ A ” pref, $1,720,000 ........................................ — 4,188,125 F e b ’ 18 .I K
“ B“ pref. $4.200.1)00...............
............. O ct 1 1940
5 g A-O
4 500.000
1st ref A ext sink fd M $25, 1915
000.000 g ($1.000)- . - c * t f Int. a t E . W . Clark & C o ., Phila., or office of
co . at C olum bus. Girard Trust C o ..
Phlla., Trustee.
General M ortgage..................................
6%
2,700.000 .....................
Cent M »r lsi mtge. S500.1HI0.1 1902
5 g J-J
325 000 Jan 1 1022
gold ($1.000)______ c V n t f f Interest at N . Y . Trust O o ., N . Y ., Trustee
Col St By 1st. $3,000,000, f 1892
5 g J-J
3,000.000 July 1 1932
gold ($ 1 .0 0 0 )______ c * . n t f ( In t.a tco.’s o ffice A E .W Clark & C o . Phlla.
IC olum bla-K nlck. Trust C o .. N. Y ., Trustee.
Crosstown 1st m tge. g old .f 1893
5 g J-D
572.000 June l 1933
($1,000) $572,000 . . c * . n t f jC olum bla-K nlck. Trust C o ., N . Y ., Trustee.
Ool By 1st consol mtxe, $7.-| 1899
4 Q-J
3 132.000 O ct l 1939
000.000 ($1,000). g. c * .n t f ( Interest at Union Savings Bank & Trust C o
Bonds are redeemable since | o f Cincinnati, Trustee, at E . W . Clark A
Oct I 1914 at 105 and Int. I C o .. Philadelphia, or at com p a n y’s office.
2 -vr secured notes gold $3,000,
2.125.000 July 1 1920
44 000 .............................................. 1918 . . 7 % ,
— The prior pref. 4 % stock is Issuaole only In exchange for the
*3 145.000 Columbus B y. C o. 4 % bonds and Is exchangeable any time
nrl'or to O ct. 1 1924 into 1st ref. and ext. sink. fd. 5 % bonds on the basis
nf $850 o f bonds for $1,000 o f stock. As o f Sept. 1 1919 $13,000 stock had
been Issued in exchange for Colum bus B y . bonds.
nonds.— O f tho First R efunding and Extension sinking fund bonds,
$6 659.000 are reserved for underlying liens, $1,175,000 are pledged as
security for the 2-year notes, and the balance is reserved for im prove
ments extensions, A c ., at 8 5 % o f cash cost or fair valuation, which
ever is lass, under certain restrictions. C allable at 105 and interest on
anv interest date on 60 d a ys’ notice. Penn. State tax refunded on 60 d a y ’s
notice. Sinking fund o f 1% per annum o f bonds outstanding begins
O ct. 1 1920. T he $2,700,000 gen. M tge. 6s are pledged as collateral under
fho 2-yoar notes due July 1 1920. Central M arket bonds are redeem able at
anv tlmo at 110 Si int. on 60 d a ys’ notice. Sinking fund o f 5 % or gross earn
ings began in 1907. $194,000 held in sinking fun d. T ho Crosstown St. B y.
mtge was for $2,000,000 but was closed at $572,000. Int. payable at
fjoiiim bus and K W . Clark A C o ., Phlla. Colum bus B y . C o. m tge. hat
been closed. $3,428,000 bonds were Issued thereunder, o f which $283,000
wore canceled. $13,000 had been exchanged for 4 % prior pref. stock to
Sent 1 1919- Are callable at 105 and int. on any Interest date.
— The $2,500,000 notes are secured b y a pledge o f $1,175,000 1st
ref. & ext. sk. fd. m tge. 5 % bonds and $2,700,000 gen. m tge. 6 % bonds,
f 148 000 notes are in the treasury. A ny additional ref. A ext. bonds cer
tified must b 3 substituted under this pledge for gen. m tge. bonds.
— An initial dlv. o f 1)4 % was paid on the Series “ A " pref. stock
Anril 1 1914: same rate quar. to and incl. A pr. 1918; none since. On Series
••B" initial dlv. of 1 M % paid In M ay 1914 and same rate quar. since to and
lncl Feb 1918. N one since. On prior prer. Initial d lv. or 1% was paid In
O c t’ 1915' same rate quar. to and Incl. Apr. 1918; none since. On com m on,
initial d lv. o f 114 % was paid in M ay 1914 and same rate quar. to and incl.
N ov. 1917. FobT 1918 d iv. passed (V . 106, p . 498 ). N one since.
R E P O R T .— For years ending D oc. 31 (1918 report In V . 108, p . 573).
1918.
1917.
1916.
1915.
Rovonuo passengers. . . 54.455,621 67,498,715 66,650,414 61,062,066
.
.
11,131,350
15,737.432
15.924.643
15,154.460
Transfer passengers.
_______
T otal passongers_____ 65,586,971 83.236.147 82,575,057 76,216,526
K ilow att hours sold------ 69,825,731 56,391.893 40,772,239 31,020,852
27,942
21.257
25,081
N um ber o f cu sto m e rs..
29,975
Railway oper. revenues. $2,119,163 $2,287,097 $2,248,918 $2,039,383
1,737,089
1.073.792
1,288,482
Power, light, hoat, A c . .
2,145.322
T otal gross revenues. $1,264,486 $4,024,186 $3,537,400 $3,113,175
N et, after taxes_________ 51_.151.417 $1,080,257 $1,432,275 $1,266,738
$558,589
$516,373
$476,281
$695,457
Interest, A c ------------------520
520
520
Prior prof, stock ( 4 % ) . .
98,691
75,978
76,218
98,094
Pref. divs. Series “ A ” . .
209,145
209,155
209,170
209,155
Pref. divs. Series " B ” __
(5)300.765 (5)302.106
C om m on dividends---- --------------(3^4)226,542
New Management.
valuation.
'City'Purchase Proposal.
Strike.
Stock.
Notes.
Dividends.
Bal. for renew .,depr.,A c.
$148,191 dof.$13,210
$329,229
33
R O A D , A O .— 149.34 miles single track, including 14.21 miles operated
under con tract. 349 passenger, 2 freight and 53 other cars. 5 steam
power stations with 40,560 k. w. capacity.
O F F IC E R S .— Pres., Chas. S. K urtz; V .-P ., Samuel Ungerleider; V .-P .
A T reas., N orm an M c D . Crawford; Sec. A A u d ., P. V. B urlngton; A sst.
Sec. A Asst. A u d ., Herbert M . Burlngton; General S upt., C . C . Slater.—
V . 107, p . 1287, 1747, 1919, 2475; V. 108, p . 77, 267. 378, 573, 878, 1511,
1610, 1721, 1822; V . 109, p . 270. 774, 887, 981, 1079.
^
O H IO E L E C T R IC R A IL W A Y C O . ____ , _
O R G A N IZ A T IO N — Inoorp. M ay 16 1907 In O hio. On Aug. 31 1907
purchased the Lima A T oledo Traction C o ., which owned the line from Lima
to T o le d o , and leased the Lima Elec. B y. A L t. O o . (this oo. being pur
chased on D ec. 31 1909). which operates In the city o f Lim a, and the Ft.
W ayne Van W ert A Lima T ra c.. with a line from Lim a. O .. to F t. W ayne.
Ind. Also acquired by lease the Indiana C o l. A East. T ra c., which com
pany assigned to it the leasee o f C o l. Newark A Zanesville Elec. B y . and
D ayton A W w tera T rac
On Feb. 1 1908 purchased the Cine. Northern
T rac. (subsequently dissolved) and acquired from that com pany lt.« lease
o f C ine. D a y . A T o l. T rac. (sold under foreclosure June 30 1917), now under
control o f and operated b y Cincinnati A D ayton T ra c. C o. (which see).
Including city lines in Zanesville, Newark, Lima and other points, operat
ing mileage is 533.04 miles extending from Zanesville on the east via Newark
to C olum bus (including line from Colum bus to Orient and Buckeye Lake
and Newark to Granville branches), thence through Springfield to D ayton,
where connection is made with tho Cincinnati A D ayton T rac. C o ., and
from D a yton to Union C ity , where connection is m ade with Union T raction
C o. o f Indiana for M uncie, Anderson and Indianapolis, In d ., and from
D a yton to R ichm ond, Ind., where connection is m ade with T . H. L A E .
T raction to Indianapolis, extending north from Springfield through Urbana
and Bellefontaine to Lim a, and from Lima to D efiance; to T oled o, O ., and
F t. W ayne Ind. Electric light and power business is conducted in cities o f
Zanesville, Lima and W est Alexandria and steam heating plant in Lim a.
In May 191J was granted autnorlty to issue
,o<JU,OOU zu uitge. ooad s,
provided $5,000,000 o f outstanding stock was retired. This was accord
ingly done. V. 98 o. 1365. IK40’ V. 97 # P .2 9 J .
N ew Lease.— See F t. W ayne Van W ert A Lim a T rac. C o. on subsequent
Pafn July 1917 the Ohio P . U . C om m , authorized the issue o f $100,000
equipm ent notes, the proceeds to be used to pay in part for 4 m otor ex
press cars, 10 flat cars and 16 box cars.
.
_ „
Fare Increase.— In July 1918 was auth. b y the Ohio P . S. C om m , to
increase passenger fares effective A ug. 1 1918. V . 107, p . 402. In O ct. 1918
the l.-S . C . C om m . auth. an increase to 2 H cents per mile between points
on the c o .’s lines. V . 107, p. 1385. E ffective A ug. 15 1918 was auth. to
raise freight rates 2 5 % . Com pare V . 106, p . 2649.
S T O C K A N D B O N D S—
Date. Interest.
Outstanding. M aturity.
C om m on, $8,000,000 ($100)....................................
$8,000,000 .....................
Preferred, $6,000,000 5 % non
„
„
_
. __.
- - - T- .
________
3.000.000
See text,
cum ($100)
4.200.000 Jan 1 1930
1st A ref. m tge. $15,000,000 1910 5 g J-J
gold ($ 1 .0 0 0 )................ c * t f Int. at Fidelity Trust C o ., Phlla.. Trustee.
2,927.200 June 1 1941
2nd A gen mtge $5,000,000. 1913 6 g J-D
g ($100) ($500) ($1.000)- t f Int. at Fidelity Trust C o .. Phlla.. Trustee.
M -u notes Series " A
„ ” a
. ..... . 1 9 1 0 5 g J-J
16.000
See text.
Equip
$160,
000 gold ($1.000)_____ c* tfJ In t. at Fidelity Trust C o ., Phlla.. Trustee.
Equip notes Series “ B '$130,-1
1911 5 gJ-J
26.000
Seetext.
000 gold ($1.000)_____ c » t f [ I n t . at Fidelity Trust O o .. Phila., Trustee.
Equip note* S eries’ ’O ’ ’ $120.-(
1912 5 gJ-D
36.000
Seetext.
000 gold ($1.000)......... c * t f l i n t , at Fidelity Trust C o ., P hila.. Trustee.
Equip note* Series'■D’ ’ $100.-1 1914
5 g M -S
45.000
882»teT:**
000 gold ($ 1 ,0 0 0 )........... t f 'I n t . at Fidelity Trust C o .. P hlla.. Trustee.
Equip notea “ E " $130,000/
1917 6 g J-J
110.000
Seetext.
($1,000) g ___________ c * t f f l n t . a t Fidelity Trust C o ., P hila.. Trustee,
Stock.— Preferred is red. at l0 5 on 30 d a y s 'n o tice .
Ronds.— $3.250.000 1st A ref. bonds are reserved to retire prior liens
($1,250,000 bond* o f Lima E l. R y . A Lt. O o. and $2,000,000 bonds of
Ft. W ayne Van Wert A Lima T ra c. O o.) and $7,550,000 for additions,
betterment*, A c.
Entire issue is subject to call on any Interest day
at 105 and Interest on 53 days’ notice.
N o singing fund.
T he
2nd A gen. mtge. Issue Is subj. to call on any Int. date for paym ent In cash
or for substitution o f 1st A ref. m tge. bonds o f 1910 exchangeable at par
on 8 weeks' notice. Bond* to be delivered for purpose* of Im pts.. as ap
proved b y Public Service Comm ission o f Ohio or other governmental
authority. N o sinking fund. Int. on 2d gen. m tge. bonds not paid on
m aturing dates D e c .(7)1, 1918 and June 11919. M tge. covers all properties
and leasehold estate, subj. to underlying lien. Series “ A ” equip, notes m a
ture $8,000 semi-ann. com m encing Jan. 1 1911. Series “ B “ equip, notes are
1st M . on 26 cars. T hey mature sem i-ann.($7,000 Jan. 1 and $6,000 July 1)
from Jan. 1 1912 to July 1 1921, Incl. Series “ C " equip, notes are 1st m tge.
on 43 cars and mature $6,000 semi-ann. beginning D ec. 1 1912. Series * D
equip, notes mature $5,000 semi-annually beginning Sept. 1 1914. Series
" E " equip, notes are divided into Series " E 1" and Series ‘ ‘E 2 ," amounting
to $100,000 and $30,000. respectively, the form er having priority. T hey
mature $5,000 s.-a. until Jan. 1 1928, when $15,000 Is payable ^.-a. to
m aturity. All Issues o f equip, notes are guar., p. A i., b y end. o f Ohio El. R y .
E A R N IN G S .— F or years ending D ec. 31:
„ , ,
„ , „ ,
Cal Year—
Net.
Inl.& Tax. Rentals. B al-.Def.
*1918............... $4,098,088 $1,197,415 $14,577 $714,092 $ 837,532 $339,632
1917
. . 4i379,772 1,478,564
9,271 691,607 1,027,593 231,367
* 1918 figures d o not include that part o f the system between D ayton
and Cincinnati; now operated b y the Cincinnati A D ayton T rac. O o.
E Q U IP M E N T .— 187 passenger cars, 13 trailers, 91 freight and express,
55 work cars, 8 snow plow s, 7 miscellaneous cars.
O F F IC E R S .— Pres.. W . Kesley Schoepf; V .-P ., Dana Stevens; Sec. A
Treas. F. A . Healy: Gen. M g r., H . G . Gilpin. General offices. Interurban
B ld g ., Springfield, O .— V . 105, p . 1898; V . 106, p . 929, 2649, 2758; V . 107,
p . 83. 402, 604, 1385. 1580; V . 108, p. 1165; V . 109, p . 776, 982.
(1) C o lu m b u s I n te ru r b a n T e rm in a l C o .
Entire stock owned by Ohio E lec. R y .. which guar bonds.
O R G A N IZ A T IO N .— lncorp. In Ohio on M ay 24 1910. Owns a n l
operate* sines Jan. 1 1912 passenger and freight terminal stations In O olum b.
ST O C K A N D B O N D S—
Date. Interest.
Outstanding.
Maturity.
Stock $10,000 ($ 1 0 0 )...........- ...................................
$1,000 .....................
First m tge $1,000,000 gold l 1910 5 g J-D
433,000 June 1 1935
($500) guar d A 1 _____c * t f IInt. at OIL Tr. A Sav. B k .. C olum bus. T ru st.
Ronds.— Remaining boml* reserved for acquisition o f additional real
«state. additions, im pts., A c. N ot subject to call.
O F F IC E R S .— Pres., Dana Stevens; V .-P ., J. H. Sundraaker; Secretary
A T reas.. F. A. Healy — V. 92. p 1564; V . 93. p. 1532. 1599.
(2) T h e I n d ia n a C o lu m b u s & E astern T r a c t io n C o .— 4 trolley road.
Leased to th# Onlo Electric Rv Aug 31 1907 Latter com pany gu* %ntees Interest on bonds and 5 % divs. on pref. stock (in Sept. 1919 we were
Informed that those divs. had been deferred) and owns entire com m on stock.
O R G A N IZ A T IO N .— Incorporated In Obio on April 14 1906 aud bas a c
quired the D ayt m Springfield A Urbaaa Elec. R y .. the Columbus London
A Springfield R y .. the Colum bus G rove C ity A Southwestern B y ., the
Urbana Bellefontaine A Northern B y ., the Springfield A Western R y ., the
Dayton A Northern T raction O o. and about 12 miles o f the D ayton A
M uncie Traction C o ., extending from Greenville to Union C ity on the
Indlana-Ohlo State line. Has also acquired the Colum bus A Lake M ichigan
K B ., a steam road operating between Lima and D efiance, which has been
converted Into electricity.
Leases the Dayton A Western Traction O o. and the Colum bus N ewark A
Zanesville Elec. R y ., which latter com pany had previously absorbed the
Columbus Buckeye Lake A Newark T raction O o. and the Zanesville R y. L t.
A Power O o. These leases were assigned to the Ohio Elec. R y. Aug. 31 1907.
The new general and refunding m ortgage bonds were listed on the Phila
delphia Stock Exchange In February 1907. V . 84. p. 339. See description
of bonds, property. A c ., In V. 83. p. 37.
Favorable Tar D ecision.— See remarks under Cincinnati Street R y.
STOCK AND BONDS—
Date. Interest.Outstanding.
Maturity.
C om m on. $3,025,000 ($100)....................................
$3,025,000
.......... Preferred. $1,000,000 ( $ 1 0 0 ) . . ____
5%
1,000.000
See text.
Gen and ref mtge (see text)! 1906 5 g M -N 6.650.000 M a y
1 1926
gold ($ 1 .0 0 0 )_________ c * t f f ln t . at Pa.C o.for Tns.onL.AG A .,P h!la..T rus.
Ool Lon A Spg 1st m tge. t l . - i 1900 5 g A-O
500.000 O ct 1 1920
500.000. g o ld ($ l ,0 0 0 )c » n t f/ln » at N . Y . Trust C o .. New Y ork . Trustee.
Day Spg A Urb 1st nn s«.\ 1898 5 g M -N
750.000 N ov 1 1928
$750,000. gold ($1.000)n t f (Interest at N .Y Trust C o .. N Y .. Trustee.
Bonds.— T he gen and rei. mtge was originally for $ 12 ,000,000 but auth.
am ount has been reduced to $10,000,000. O f the remaining bonds $250 000 are treas. bonds deposited with trustee and are available for extens. A
Impts. when net earns, are equal to 1 M times Int. charges on bonds out
$203,228 ana to be Issued; $1,250,000 are held to retire the underlying llensgiven
Gross.
Oth.Inc.
34
ELECTRIC RAILWAYS
i» table abore. The reznalniag $2,100,000 are reserved for future better
menu. Improvements and extensions, and can only be Issued as follows
$1,100,000 when net Income Is equal to I H times ln». charges on all bonds.
Including those to be Issued, and $1,000,000 when net Is equal to twice lot.
eharges, Incl. Int. on bonds to be Issued. These bonds are subject to call la
whole, but not In part, at 105 and Int. The Columbus London & Spring
field bonds may be called at 110 and Int. A sinking fund on these bondOf 5% of gross earnings began with year ending Sept 3# 1606. See V 71.
p. 963. $228,000 In sink, fund Sept. 1 1919.
The Day. Springfield & Urbana bonds are subj. to call at 110 and int. A sink, fund of 5 % of gross
earnings began In 1903. $206,000 In sinking fund Sept. 1 1919.
ROAD.— Columbus to Orient, Columbus through Springfield to Day
ton, Dayton to Union City and Richmond. Ind., Springfield to Lima
through Lima to Defiance, O. Total miles of track (electric) owned. 277.If ;
leased, 139.87; total. 417.02. Standard gauge. 5 power houses. 231 cars,
OFFICERS.— Pres., Dana Stevens; V.-P., J. H. Sundmaker; Sec. and
Treas., F. A. Healy; Asst. Sec. 3c Asst. Treas.. J. M . Pogue.— V. 85. p.
600; V. 86. p. 721: V. 87. p. 37.
[V o l . 109
R O A D .— 61.63 miles o f electric track from F t. W ayne via N ew Haven,
M onroeville, Van W ert, M lddlepolnt, Delphos and Ellda to Lim a. C om
m enced com plete operation N ov. 15 1905. Connects at Ft. W ayne with
* • Ft. W ayne A N or. Ind Trac- and at Lima with the Ohio Elec. R y .,
•na forme part o f through line from Ft. W ayne to T oled o, D ayton and
Colum bus. Standard gauge. 70-lb. T rails
O F F IC E R S .— Pres., W alter A . Draper; V .-P ., Joseph N icholson; Sec.
and T reas.. F. A . H ealy.— V. 82, p. 691. 804; V. 83. p. 37.
C IN C IN N A T I & D A Y T O N T R A C T IO N C O .
Organization.— Incorp. April 26 1918 with $1,250,000 auth. capital stock,
as successor to the Cincinnati D ayton & T oled o Traction C o ., whose
proper tie* were sold at foreclosure on June 30 1917 to the com m ittee for the
$2,700,000 C . D . Sc T . 1st cons. 5s for $400,000. subject to $2,300,000
underlying m ortgages. Holders o f abou t $250,000 undeposited bonds will
receir# about $148 for each $1,000 bond in settlem ent.
Has been anth. to issue $4,500,000 20-year 5 % bonds to cover present
and future needs and provide for retirement o f underlying bonds. V . 106,
p. 2122. C om pare V . 106, p. 1461.
Management.— On July 1 1918 the operation and m anagem ent o f the
line was placed in the hands o f the Warren Bicknell C o . o f Cleveland, O.
V. 106, p. 2756.
Committee for C. D. A T. \st Cons. 5s.— L eo J. Van L ahr, James M .
H utto®, C lande A shbrook. Edgar Frlediander and O tto Armleder. De
positary, P rovident Sav. Bank A Trust C o ., C incinnati. For statem ent by
com m ittee, eee Y. 162. p. 436. See also V. 102. p. 800.
Committee far Cine. A
Elec, 1st 6s.— W . S H ayden and E . V . Hale,
with Gardner A bb ott. Sec., 1215 W illiamson B ld g.. C leveland. Deposi
tary. Citlsens Sav. A T r. C o .. Cleveland. C om m ittee arranged to ad
vance as a loan to depositing bondholders the amount o f the unpaid coupon*.
Committee for S. O. T. Co. ls( Cons. 5s.— Chairman, R . M . Stinson;
Livingston E . Jones and Edward E . N ew m an. Sec. Depositaries: C leve
land Trust C o . and Girard Trust C o . The M a y 1 1918 interest was not
paid when due. V . 106. p. 2228: V . 107. n. 291. N o later inform ation.
Foreclosure Proceedings.— T he Cine. A H am . E lec. 1st m tge. 6s being is
default o f prin. and int. from July 1 1918, tho trustee has brought suit la
foreclosure join tly with tho trustee o f tho overlapping m tge. securing the
Southern Ohio T rac. 1st cons. 5s. In Sept. 1919 the suit was pending ia
the Butler C ounty. Ohio, C ourts. V . 109, p . 1179.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity•
.............
Stock. $1.256.000............
$1,250,000
1938
1st A R ef Con*. M fg e ............1918. " 5 %
(7)
(a) D a y to n & W estern T r a c t io n .— T rolley road.
O R G A N IZ A T IO N .— Incorporated on June 26 1898. W as teased on June
I t 1906 to Ind. Oolum . A East. (V . 82. p. 1437). For term s, see below.
Favorable Tax Decision.— See remarks under Cincinnati Street R y.
STOCK—
Dig. Period. Outstand'g. Last Dividend.
C om m on, $900,000 ($ 1 0 0 )___________
Q-J
$672,500
See text.
Q -M *50.900
See text.
Pref $850,000 ($100) 5 % cu m ..............
Dividends.— Lease taking effect June 15 1906 provided for 5 % per annum
on pref. stock and 5 % on com . stock In 1906 and 1907. 514% In 1908 and
6 % thereafter, but under m odified lease dated Feb. 7 1916 the p aym ent on
the com . stock was reduced to 3 % . Earnings In excess o f the required
rental payments and $10,000 per annum for additions and betterm ents are
to be paid to the com m on stockholders up to an additional 3 % per ann. for
1st 5 years. Beginning with the 6th year, the operating com pany Is en
titled to receive. If earned, before paying the additional 3 % on the com .
stock, $10,000 per annum as com pensation for operations. A s p a r t o f the
agreement, the Ohio Electric R y . surrendered $75,000 D a yt. A W . co m . stk.
R O A D .— D a yton . O ., to R ichm ond. In d ., with branch from N ew Westvllle to New Paris, 39.54 miles. At Richm ond connection Is m ade with
Terre Haute Ind. * East. T ra c.. m aking possible the operation o f through
cars from Indianapolis, via D a y ton , to C olum bus, a distance o f 194 miles
O F F IC E R S .— Pres, and Treas., Valentine Winters; V .-P s., Clara Win"
ters and Katherine G . L oy; Sec., R . R . D ickey; Asst. Sec., Russell H—
Pom pert, all o f D a y ton . V . 82, p . 1437; V . 83, p . 36, 94, 379.
1.350.000
May .1 ____
1920
SoH 'h.£r?
T rac l*t con sf 1900
5 g M -N
.....____________
$2,000,600 ($1,000), goldc*} Int. at Cleveland Trust C o .. Trustee, or at
(b) C o lu m b u s N ew ark & Z a n e s v ille E le c tr ic R y. C o .— A trolley road.
xr
.
IStandard Trust C o .. N ew York.
O R G A N IZ A T IO N .— Incorporated In Ohio on July 2 1992, and In April
K,ec 1,4 * (* 5 0 0 )/ 1898
6 g J-J
400.000 July 1 1918
1904 absorbed the Newark 9c Granville 8treet R y. In June 1906 acquired
$586,000. net subj to c a l l ., lin t , at C lt. Sav. A T r. C o ., C leve., Trustee.
the Columbus Buckeye Lake & Newark Traction C o ., the preferred share
T r,tctloa
1896 5 g J-J
250.000 M ay 1 1920
holders being given $500,000 In pref. stock for their holdings. Also took
($1,066). Int guar----------c*\ ln t. at Finance C o o f P enn.. Phlla., Trustee.
over the Zanesv. R y. Light A Power C o. and was then leased on June 23
& Llndenwald El Tran) 1901 5 g J-D
2S0.000 July 1 1922
1906 to the Indiana C olum . Sc East. T rac. C o . for length o f franchise and
f $259,000. g ($1.-/In te re st at Cleveland Trust C o .. Trustee
renewals thereof. Rental Is Interest on bonds, an amount equal to 6 % on
006). Int gnar....... .......... c *f
the preferred stock and $500 for organisation expenses. V . 33, p. 625.
5 g J-D
56.000 July 1 1922
Private right o f way from Newark to Zanesville; franchises on other lines Mlam A Gjwm l*t jnmr ($ 5 0 .-/ 1901
000). gold ($1,000)2____ c ’ llnterest at Cincinnati Trust C o .. Trustee
expire 1925 to 1928. Entire com m on stock Is owned by Ohio Elec. R y . C o
Bonds.— Sana o f the underlying Issues is subject to call
Favorable Tax Decision — See remarks under Cincinnati 8treet R y
O ' the $2,600,000 South. Ohio T raction bonds. $650,000 are reserved to
S T O C K A N D B O N D S—
Dale. Interest.
Outstanding. Maturity
retire Cln. A Ham. Electric bonds and D avton Traction bonds
Issue
C om m on. $1,525,000 ($100)....................................
$1,525,000 ................ ..
listed on Philadelphia Stock Exchange. T he D ayton Traction f* matured
P f. 6 % cu m . $500,000 ( 5100)............ 6 Q-J
500,000 See text.
originally
on
July
1
1916.
but
were
extended
to
M
a
y
1
1920.
T
h
eO
ln
. A
1st mtge, $2,000,000, gold ! 1904 6 g M -8
1.250.000 M cb 1 1924
(sc™ abovo) ^St
<*U0
* 1918 had not been paid up to Sept. 191#
($1,000) .........................c * t f I Int. at Colum bia T r. C o ., N . Y ., trustee.
Gen & ref m tge. gold. $B,-\ 1906 5 g VI-N
1.211,000 M ay l 1926
, .T J*
* pln d . ® Iec- T ran, and M iam lsb. A Germ , bonds originally
250,000 ($1.000)........ c ' t f / l n t . at Girard Trust C o .. Phlla., Trustee.
C B L & N 1st m tge. $1,500.- 1901 5 g M -N
1,243.000 N ov 1 1921 ten aue D ec. l 1911, but arrangements were made at that time to extend
u*™
v »3. p .1 3 8 6 . 1387. Annual sinking fund o f 5% on
000. gold ($ 1.0 00 )--- c*tf| In t. at C olum bia T r. C o ., N . Y .. trustee.
I L l * 1? . . . bonds began Dec. 1 1906. Increasing 1% each year up to 1911.
Zanesville R y , Lt A Pow 1st/ 1902 6 c M -S
750.000 M ar 1 1924 *57.000
in sinking fund M ay 1 1918.
cons m ortgage. $1,000.000{ Tnt. at Cent. T r. A 8 . D . C o .. C in e.. Trustee
R O A D .—Owns *1.07 miles o f electric track, connecting Cincinnati with
($500, 51.000). g o ld —c * t f l or Trust- C o. o f America, New York
,n?I' Germantown, M t. Healthy and C ollege Hill branches and the
Zanesv Elec 1st m tge, $300,-1 1899 7 g F-A
250.009 Feb 1 1924
Carries freight and express.
000, gold, subject to call) Interest at International Trust C o .. Boston,
— IT®*-. J. M . H utton; V .-P ., O. Armleder; Sec., Claude
after 1903. $1,000 ea ch c n tf! Trustee.
T iT ;T " Lea
Van Lahr. Under management o f the Warren
— O f the $6,250,000 gen. A ref. bonds, $3,493,000 are reserved to
retire prior liens and $1.546.000 for betterments and extensions. T hey are Bicknell C o ., C leve., O .— Y. 106. p . 2756; V . 107. p . 291; V . 109, p. 1179.
rubject to call after 5 years at 105 and Int. Under terms o f this m tg e., none
(T H E ) C O LU M B U S D E L A W A R E & M A R IO N E L E C T R IC C O .
" f the $750,000 1st mtge. bonds unissued can now be Issued. T h e entire
Issus o f C ol. N ew. A Zanesv. 1st 5s can be called at 110 and Int. on any Int. n r n n ^ r ? i ^ r V i . T r V ^ ln ° hl° Jun® 14 >917 to take over the
date. V. 80, p. 1234. T he C ol. Buck. L. A New. bonds are subject to nn
11 fi o i 7 C k J” *’.’18 Uf‘ l» war® * M arion R y .. sold under foreclosure
call on any Int. date at 110 and Int. on 3 m onths' notice. Zanesville R y .. fwhich V n w i * ! ; ' - - ■
'®ct4t0 underlying m ortgages aggregating $1,533,000
L t. A Power bonds fell due Oct. 1 1912 but were extended to M ar 1 19?4
Tneh w m v . iu
k ".0'
by thn O. D . A M Elec. C o . the rights
$250,000 reserved to retire underlying bond s. T he Zanesv. E lec. 1st 7s
♦b t ,.n* n,either enlarged nor dim inished). Owns and
were originally -1s and fell due F eb. 1 1919, but were extended to F eb . 1
s*atlon electric Itehtand power business in M arion, the
1924 at 7 % . V . 108. p . 1165.
P n h im h iiVan in M a n on *nd Delaware, and the interurban railroad between
Also furnishes electricity to the vllR O A D .— Operates 95.85 miles o f track from Colum bus to Zanesville, la w l nf^Ui-r,2,i\Wlkn* ^ r" Marion
Radnor; Greencam p and Caledonia. Over 76% o f ths
Including the city lines In Zanesville. Newark and Granville and a branch
trac^ k . on Private right o f way. Has entranco to centre of
to Buckeye Lake. Operates lighting and power plants In Zanesville. Colum bus over
tracks o f tho C ol. R y ., P . A L. C o ., 4.09 miles.
Standard gange; 60 and 70-lb. T rail and 90-lb. girder. Also owns am use
franchises contain no burdensome restrictions.
ment park on Buckeye Lake. Owns and operates Its Hebron power plant
S T O C K—A -N-D- -B-O- N
with Its own natural gas.
-D
—S Date.
Interest. Outstanding. Maturity.
$700 000
O F F IC E R S .— Pres., Dana Stevens; V .-P .. J. H . Sundmaker; Sec. and C om m on $1,000,000 ($100)..........................................
Q -J............
6 50 BOO .....................
T reas., F. A . H ealy.— V . 87. p. 37: V. 95. p. 47. 890. 1039; V . 106. p. 924. JTer 7 % £*21" *1,900.000 ( $ 1 0 0 ) - . First A Refunding M tge $7.-1 1917
5%
1 341 000 ~TfiinV 1937
(3) Lima E lectric R a ilw a y A L ig h t .— A trolley road.
500.000 ($ 1,0 00 )............... c f Cleveland T n ist O o .. T n,*tee
J " ne 19J7
Acquired by purchase by Ohio Electric R y . D ec. 31 1909.
C J ? & M B le c R R . 1,4 m tge{ 1901
5 g M -N
290.000’ M a y 1 1921
$ 1,0 00 ,0 0 0 gold ( $ l,0 6 0 ).c * lln t . at Cleveland Trust C o ., C leve. T m sO R G A N IZ A T IO N .— T he com pany Is a consolidation com pleted A ug. 1
1900 o f the Lima R y . (Incorporated N ov. 5 1896) and the Lima Electric
OOf)"Sept* 1^1934
Light A Power C o . Was leased July l 1905 to the Lima A T oled o T raction, C ol N or R y P ow A Equip. 1st! 1904’ ^ S ^ M - S *
M (closod) gold ($1,000)— c (I n t. at Guaranty Trust C o!, N. V * . trustee.
which lease was assigned to Ohio Electric R y . A ug. 31 1907.
5 g J-J
30 000 Tulv 1 1 9 2 4
8TO C K A N D BON DS—
Date.
Interest. Outstanding. Maturity. M arion R y, L A I» 1st m tge/ 1904
$300,000 gold ($1,000)—c * l Int. at Guaranty Trust C o N Y trustee
Stock, $5,000 ( $ 1 0 0 ) ...............................................
$5,000 .................
Pref. stock Is non-taxable In Onto. N . Y .. NT II. and Conn ‘ lied all or
2d c n.(now ls t jm t g .$850,000,/ 1902
5 g A-O
350,000 Apr 1 1925
part,
at $115 and d lvs. Additional p rof, stock cannot be Issued without
gold ($ 1 ,0 0 0 )_________c ’ t f l l n t . at Fidelity Trust C o ., B uffalo, Trustee.
Lima Elec R y A Light, ref/ 1905
5 g M -S
900.000 Sept 1 1925 the consent o f the m ajority o f the prof, stock, unless the net oarnings avail
able for d ivs. theroon are double the requirements on the prof stock Issued
mortgage. S1.25O.OO0. g . t f l l n * . at Girard T r. O n .. Phlla.. P a .. Trustee
— The bonds o f 1902 are a Hen on the electric-light and heating o f 7 5 ™ Po T r*ef ^ t n c k -* havln* Pr,orltv can be aut.h. except with consent
* nt. as well as on the railway. C aanot be called before m aturity. $350.Bonds. .$510,000 o f the First A R ef. M . bonds aro reserved to retir*
refunding bonds are reserved to retire prior liens.
underlying bonds. Additional bonds m ay bo Issued Tor 80% o f the actual
R O A D .— Owns 10.91 miles o f track, aleo a steam-heating plant (franchise cost
or additional properties and permanent extensions, additions im prove
perpetual, operated In connection with the electric-lighting plan t). Con
ments or betterm ents, but only under certain conditions
Sinkinn fund of
tract ordinance for city lighting expires April 1919.
1% o f outstanding bonds annually begins Jan. 1 1020. ’ R ed at 102 and
O F F IC E R S .— Pres., Dana Stevens; V .-P s.. J. T1. Sundm aker; Sec. & int. on any int. date upon 30 days notice. Int. is also payable at Bankers
T reas., F. A. H ealy. Springfield. O h io.— V. $1. p. 155, 1100.
Trust C o .. N . Y . C ity . Sinking fund retires $5,000 Col N or R y Pow A
'
(4)
P ort W av n e V an W ert 8k Lim a T r a c t io n C o .— A trolley road E qu ip. 1st 5s annually on Jan. 1.
O R G A N IZ A T IO N .— On M ar. 1 1906 was leased, until expiration o f fran
E A R N IN G S . Operating
Operating
— A n n . require, for— Bat forDev.
chises and renewals thereof, to Lima A T oledo Traction C o ., which guaran
Year ending—
Rerenue.
Income.
Bd ,A c ..Int. Pref Div Coni Stk Ac
teed the Interest. V . 82, p . 691. Lease was assigned to Ohio Electric R y. June 30 1919— $747,976
x$179,14I
$98,258
$45 500
z$35 383
Aug 31 1907. T he latter com pany owns all the com m on stock. Incorpor
June 30 1 9 1 8 -.. 621,460
163.120
98,815
45 500
18 805
•ted In Indiana and O hio. Road Is entirely on private right-of-w ay excep
Jure 30 1917— 566,039
194.935
112.285
*45.500
37 15*
la towns, where It has 25 or 50-year franchises.
♦Pref. stock outstanding only since July 2 1917, but shown h e re 'fo r
Fnrornble Tax Decision.— Sea remarks under Cincinnati Street R y.
com parison, x After depreciation.
New Lease.— On D ec. 11 1916 a new lease was entered into botween the
R O A D , A c .— 53 miles o f single track equivalent; 28 city and 8 Interurban
com pany and the Ohio E lectric R y . C o ., canceling the previous lease. This passouger cars. 4 com bination Interurban passenger and baggage cars.
lease provides rental paym ents as follows; (1) int. on m ortgage Indebtedness; 1 freight and express cars, 4 freight box car trailors. 18 fla t, dum p and work
(2) $500 per annum payable semi-ann. for organization expenses; (3) $12,500 cars, and 2 m otor snow plows. Has a com plete electric distribution system
per year to be set aside for additions and betterm ents, provided same is In M arion and a steam power station at Stratford, capacity 2.800 k .w ..
earned. Such earnings shall be arrived at on the follow ing basis: Gross and one at M arion, capacity 1.750 k.w .
revenue less operating expenses, bond in t., $500 per annum for maintenance
O F F IC E R S .— Pres.. Eli M . W est: Sec., Treas. A A n d ., W . II. D avid
o f organization. The balance to be considered net earnings. A s stated son; V .-P . A Gen. M g r.. A. F . Van Delnse.— V . 104. p. 2641; V . 105 d 72.
above, $12,500 per annum is to be set aside for additions and betterm ents. 180. 1898; V . 106. p. 715.
v
In case the net earnings shall exceed this am ount, which is accum ulative,
such excess am ount up to an additional $12,500 shall bo paid as dividends to
COLUMBUS NEW ALBANY & JOHNSTOWN TRACTION CO.— A
the pref. stockholders o f the com pany. Should there still bo an excess after trolley road.
the paym ent o f this additional dividend, such excess shall bo divided equally
O R G A N IZ A T IO N .— Incorporated In Ohio on M a y 4 1899. In M a y
between the Ohio E lectric R y . C o. and the pref. stockholders. T he prin 1905 canceled old mtge. for $200,000 and made the new mortgage In table
V . 80 p. 2399
Franchise* are for 25 years
cipal consideration o f this lease was the return to tho com pany for cancella below
tion o f $500,000 par value o f its pref. and $500,000 o f its com m on stock,
On Feb. 15 1919 a decrease o f capital stock from $600,000 to $575,006
which arrangement has been carried out.
was effected, the pref. stock being reduced from $200,000 authorized and
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. outstanding to $175,000. C om pare V . 108, p. 784.
Common, $500,000 ($100)__ _____
- ......... $500,000 ....... ...........
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity.
Pref. $500,000, 5% n-c ($100)____
.............
500.000 ................... C om m on. $400,000 ($ 1 0 0 ) ......................................
$400,000 .....................
First mtge, $2,000,000, gold/ 1905
5 _g J-J _
1.470.000 July 1 1930 Preferred. 6 % cum . $ 1 7 5 .0 0 0 /.............................
175.000 .....................
Ham.
Underlying Issues
Bonds.
C
Bt/nds.
guaranteed ($1.000)----- c*Unt. at Fidelity Trust Co..’ Phlla., 'Trustee
Bonds.—-Of the $2,000,000 bonds, $530,000 are reserved for extensions
and Improvements. V. 82, p. 691. Are not subject to call.
m tge, $4.50.000. gold / 1905
5 g J-J
N one. Jan 1 1925
($500 and $1.000)_____ n t flP r o v . Sav. Bank A T r C o .. C in e.. Trustee.
First
Nov., 1919. |
RE PO RT.— For year emllnK Juue 30 1919, gross, $105,664: net profits,
$20,510; taxes and tnlsc., $5,118: net gain from operation. $15,392.
R O A l).—Operates 8.8 miles of track from Columbus to Gahanna, includ
ing perpetual lease of 2.7 miles of tracks of the Columbus Ry. as terminal,
gauge. 5 ft. 2 in.; 65-lb. T rail.— V. 92. p. 1032, 1498; V. 108, p. 784.
SCIOTO VALLEY TRACTION CO.— Third rail.
O R G A N I Z A T I O N . — Incorporated In Ohio with a perpetual charter in
1904. Built us private right of war. Franchises extend beyond maturity
Of 1st mtge bonds. In 1908 canceled $2,000,009 rnlgu. of 1903 and mads
new mtge for $4,000,000, which see below. Stockholders voted Sept. 22
1908. authorizing $500,000 new 5% first preferred stock, which ranks
ahead of old preferred stock (V. 87. p. 481 and 615).
In Apr 1916 the Ohio P. U. Comm. auth. the issuance of the remaining
$200,000 5% 1st pref. stock to acquire the entire stock of the Columbus
Depot Co., which was incorporated in 1912 In the interest of the company
to build a terminal In Columbus. V. 102 p. 1626.
In Jan. 1917 the co. leased from the State of Ohio for 25 years at an annual
rental of $6,000 the bed of the old canal feeder from Lockbourne to
Main St. about 11 milee. for a new entrauce Into Columbus
Rate Increase.— On Aug. 20 1918 was auth. by the Ohio P. S. Comm,
to Increase freight rates 25%.
STO CK
A N D
BONDS—
D a te .
In ter es t.
Common. $1 600.060 ($100)------------------- - - - -
1st pref, $600,000. 5%* cum-----------QJ
Pref. SI.2 0 0 ,6 0 0 . 5% c u m ) -----Q-J
O u tsta n d in g .
M itu ritg ,
Gross.
Net.
Int. ta t..A c. Pref. D ies. Surplus.
1918-19______ $943,637
$302,119
$136,488
$84,616
$81,014
1917-18 ........... 1,009,750
337.292
128.071
84.465
124.756
1910-17................ 510.682
199,713
108.387
83.009
8.317
1915-16 - - .......... 474.453
213.801
101.975
76 396
35.430
Rev. pass, carried In 1918-19, 1.693.661, agst. 1.797,504 in 1917-18.
R OAD.—Operates 72 miles of track from Columbus to Lancaster and
from Columbus to Chlllloothe. Is operated by third rail system. Standard
gauge. 70 lb. T rail. Within city limits of Coluuibua, company operates
over tracks of Columbus R y.. Pow. A Lt. Co. under nper. agreement.
OFFICERS.— Pres, and M gr., Frank A. Davis; V.-Pres and Treas J
Edwin R. Sharp, Sec. A. O. Moorhau*. Supt.. O Skinner — V. 87. p. 481.
615, 679; V. 91, p. 871; V. 102, p. 1437, 1626; V. 107. p. 83.
C O N C O R D , N. H.
CONCORD STREET RAILW AY.— A trolley road extending from the
central wards of Concord to Penacook. Comprised 12.71 miles of track.
In June 1901 control passed to the Boeton & Maine UK., and In 1903 the
New Hampshire Legislature authorized the Concord & Montreal RR.
which is leased to the Boston & Maine. *'0 purchase the property and to
Issue stock and bonds to pay therefor.
C O O P E R S T O W N , N. Y .
SOUTHERN NEW YORK POWER & RAILW AY C O R P O R A T IO N .
ORGAN IZATION .— Incorp. In New York In July 1909 as the Otsego &
Herkimer R R ., succeeding the Oneonta & Mohawk Valley RR (V. 89
p. 41U. Name changed to above in July 1916. In 1917 acquired controi
of the Colliers Light. Heat A Power C o., Deposit Electric C o., Hartwick
Power Co. and Southern New York Power Co.
In addition to operating an electric Interurban railroad the co. serves
electric light, heat and power In 24 cities and towns with a population In
excess of 50.000. The railroad franchise Is perpetual and others are per
petual or extend beyond the maturity of the bonds.
Valuation.— In 1918 the property, after deducting over $1,000,000 for
depreciation, plus recent construction, was appraised at $2,430,000.
In May 1918 was auth. by the N. Y . P. S. Comm, to execute a mtge.
to the Equitable Trust C o.. N. Y .. as trustee, to secure $5,000,000 6%
10-year 1st M. bonds and has Issued thereunder $952,000 bonds which were
exchanged for $1,085.000 outstanding bonds o f the old issue. Has auth. to
Issue $48,000 add'l upon acquisition or a like amount o f capital stock of the
Southern New York Power Co. Proceeds received by the latter are to be
used in the acquisition of bonds of the Deposit Electric Co. Remaining
bonds to be issued from time to time for acquisitions and extensions.
V. 106. p. 1578. 2230.
.
The pref. stock was brought out In Feb. 1918 at par with a bonus of
20% lb common stock. V. 106, p. 715, 822.
Rates.— In July 1918 applied to the I.-S. C. Comm, for auth. to Increase
class and commodity rates 25% . In Jan._ 1919 the N. Y . P. S. Comm, fixed
the maximum fare on the co. s lines outside o f Oneonta at 4 cents per mile
for cash and ticket fares and 344 cent* for mileage book rates. V. 108. p.
270.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common $774,900 ($100).....................................
$774,900 __________
pref cum $500,000 ($ 1 0 0 )-..- . . . .
7 Q-J
500,000 Apr T8. 14*
First Mortgage $ 5 .0 0 0 .0 0 0 /-----6%
952.000
_________
($100. $500 A $1,000)-c* tf lint, at Equitable Trust Co., N. Y ., Trustee.
Slock.—Of the pref. stock reported ouWtanding. $125,000 Is held bv the
Equitable Trust Co. of N. Y ., which ha* agreed to waive all divs. thereon
and al*o not to sell any part of it until earnings equal to 2 ttme< the div.
requirements on the total amount outstanding. If *ucb earnings do not
accrue before Jan. 1 1923 the trust co. agrees to surrender this stock to the
co. for cancellation, without receiving any compensation therefor. Addi
tional pref. stock may be Lsued only when net earnings applicable to pref.
divs. are at least twice the pref. stock div. requirements . Pref. stock is
free of normal Federal Income tax and is tax exempt In N . Y . State. V.
106. P- 822.
Bonds.— Call, at 105 on any int. date. Tax-exempt in N . Y ., tax re
funded In Pa., and normal Federal Income tax o f 4% paid by co. V.
108. P. 2123.
EARN INGS.— For years end. June 30 (incl. So. N. Y . Pow. C o.):
June SO Years—
Gross.
Net. (aft. Taxes). Bond Int. Bal., Sur.
1917-18...................... $100,029
$100,363
$56,650
$43,713
1916-17...................... 354,292
103,178
56.650
46,528
ROA D .— Operates 62.04 miles main and 4.63 miles second track. 150
miles being on private right o f way, between Oneonta. Cooperstown, Rich
field Springs and Mohawk, from which point It operates over the N. Y.
State Rvs. to Dtica. 15.10 miles, and to Herkimer. 1.40 miles. Total
operated. 83.17 miles. Rails 60 to 70 lbs.; 22 passenger and 5 freight cars:
1 locomotive; 4 snow plows; 2 service and 28 other cars. Has a 2,500 k.w.
hydro-electric power plant, a combined 500 k.w. hydro-electric and steam
plant and 2 steam plants with a combined capacity of 1.750 k.w. An addi
tional 750 k.w. steam turbine has been ordered. Also owns 70 miles of
transmission lines. A new transmission line from Colliers to Walton and
Deposit Is planned which would enable the co. to shut down the 250 k.w.
steam plant at Walton.
OFFICERS.— Pres.. Jos. B. Mayer: V.-P. Sc Gen. M gr.. C . L. Stone:
Sec.. James L. do Rossot: Treasj. H. R. Skirving.— V. 106, p. 2230;
Y. 107, p. 83, 1921; V. 108, p. 270, 1512, 2123.
C O R N I N G , N. Y .
CORNINO & PAINTED POST STREET R Y .— A trolley road.
OR G A N IZA TIO N .— Incorporated Dec. 11. 1894. Commenced opera
tion Nov. 1 1895. Control changed hands In 1904. V. 80. p. 162.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Stock. $100.000(8100)...................
------SlOO.OOO 1905-06.4%
1st
$ 1 0 0 ,0 0 0 ------ 1806
5 J-J
100,000 Jan 1 1936
The bonds fell due originally In 1916 but were extended for 20 years.
EAR N ING S.— For cal. years:
Gross
Net (after Other
Interest,
Balance,
Year—
Earnings.
Taxes).
Income. Rents. A c.
Surplus.
1918.....................$77,684
$26,820 $2,374
$12,922
$16,271
1917 ..................... 73,712
26,645
875
10,703
16.81$
ROAD.— Own* 5.9 milee of track from Corning to Painted Poet; 21 cars.
OFFICERS.— Pres., F. D. Underwood; V.-P. & Treas., David Bosmaa;
Sec.. J. E. Packer, New York: Compt., A. L. Sorensen.— V. 80. p. 62.
C O R T L A N D , N. Y.
THE CORTLAND COUNTY T R A C T IO N — Trolley.
ORGANIZATION .— 1* a reorganization oa June i t l»01 of the Cortland
& Homer Traction, sold at forecloeure on Apr. 23 1901. In June 1905 ab
sorbed the Cortland Sc Homer Electric Co., previously controlled. Fur
nishes light to the cities of Homer and Cortland and to the public. Carries
coal and freight as well as passengers.
STOCK AND BONDS—
D a te .
In ter es t.
O u ts ta n d in g .
M a tu r ity .
Stock, com. $320,000 ($100).................................
$320,000 ............. ..
f 1901
4 g A-O
1*0.000 April 1 1921
First mtge. $180,000 ($500). ICounty Sav. bk. & Tr. Co., Scranton. Pa..
gold___________________ e*( Trustee. Int. at co.'s office. No sink. fd.
Can be called on • months' notice.
1905
5 gF-A
320.000 Aug 1 1935
!
5*0.609 Qct. T9 14*
1.206.006 Oct. T9,14*
1st $morW.' $4 ,0 0 6 boo'.' gold 1908
5 M-S
1.488 000 Sept l 1923
($1 000)
__ c * tf lint, at Harris Tr. A 8av. Bk.,Chic.. Trustee.
Bonds — Additional 1st M bonds can only be Issued for 75% of cash ex
pendltures and for permanent extensions and addition* to property, and
only when net earnings are twice the int charge on outstanding bonds and
those to be issued. Bonds have a sinking fund of 1% per ann. on bonds out
1913 to 1917; thereafter 2% per ann. $142,000 have been retired. They are
not subject to call. See particulars, bonds, property. A c., in V. 87, p 679.
Dividends.— Dividends on old Issue of pref. stock were to accrue from
Oct 1 1905 but amounts due Jan. 1 1906 and April 1 1909 were relinquished
by shareholders, and let div (14*%) was paid July 1906 and 14*% Oci.
1 9 0 6 (V. 82. p. 1440): in 1907 and since, 5% per annum.
On Oct. 15 1918
and again on Apr. 15 1919 divs. o f 1 % (payable in U . S. Liberty Loan 44* %
bonds) were paid on the common stock.
EARN IN G S.— For 12 months ending June 30:
Year—
35
ELECTRIC RAILWAYS
Interset at Empire Tr. Co.. N. Y., Trustee.
1907
5 J-D
105.000 June 1 1957
Int. at Equitable Tr. Co.. N. Y .. Trustee.
B o n d s . — Of the $500,600 Issue of 1905. $180,000 are reserved to retire
prior liens. They are subject to call at 105.
ROAD.— Operates 16.18 miles of track (not Including sidings and turn
outs) between Cortland, Uoiuur, Little York and Preble, and between
Cortland and MeOrawvlli# Has 33 oar*.
EARNINGS.— For fiscal year ending Dec. 31 1918, net. from operation,
$22,451; other income (lighting dept.), $24,110; bond, A c., Int., taxes,
$37,762; surplus, $8,799.
OFFICERS.— Pres., Edwin Duffey; V.-Ps., D. W . Van Hoesen and
E. H. Brewer; Treas. ScCGen.
V. 81, p. 507.
O V IMgr.,
N G TG.
O NH., Garrison.—
KY.
CINCINNATI NEWPORT & COVINOTON LIGHT & TRACTION
CO.— A trolley road.
ORGANIZATION.— Incorporated under the law* of Nsw Jersey on
March 11 1902 and purchased all the stock of the Union Light. Heat Sc
Power Co. of Covington aud of the Cincinnati Newport Sl Covington R ail
w a y.
Y. 74. p. 576. The latter was organized In 1892 to buy up aud con
solidate all the roads on the Kentucky side of the river oppositeCincinnati.
Least.— The Union Lt.. Ht A Power Co. and the Cine Newp 4 Cov.
Ry. (both controlled through stock ownership by th# Cine. Newp Sl Cov.
Lt. A Tr.) were leased from Apr. 1 1907 to Columbia Gas Sc Electric Co.
(Incorporated In Ohio) for 45 years. Th* lessee guarantees interest on
bouds and 4 44 % per annum on preferred stock. On common , dl videoda are
to be 3% for first year. Increasing 44% each year until 6% la reached, which
Is to be the rate thereafter. See V. 84, p. 449, 930. also terms In V 84. p.
1489 under Columbia G»* * Electric. Under agreement ratified In luly
1915 the exts. and add’ns to Union Lt., Ht. A P. Co.’s property are to be
paid for by the Issue of new 50-year 5% bonds (see below) Instead of by
sale of stock of th# Cincinnati company as provided under the old aaraement. V. 101, p. 694. The co. will lease jointly with the Western Unlo*
Telegraph Co. for a period of from 20 to 30 years, the Dixie Terminal Bldgs,
upon their completion.
Ths controlled Cincinnati Covington Sc Crlanger St. Ry., which was lneorp. Sept. 1899 with $256,000 stock (shares $50). to build an extension te
Erlanger. 7 M milee (about 3 miles completed) has also been leased to the
Columbia Oas Sc Electric.
In 1914 the Licking River Bridge Co. Issued $185,000 1st M bonds te
cover cost ef the 11th St. bridge between Covington and Newport, which
was completed April 1 1915.
F ranchise D e c isio n s. — On Oct. 19 1914 and Nov. 17 1915 Judge Cochran
in the U. S. District Court held that the franchise granted by the City
of Covington In 1882 to the South Covington A Cincinnati street Ry.
was In effect perpetual. See V. 99. p. 1214. On Jan. 5 1915 ths U. S.
Supreme Court declared void, as an unlawful Interference with Inter
State commerce, the eection of the Covington street railway ordinance
relating to overcrowding. 8ee details in V. 100, p. 139. In Nov. 1916
th* voters of Newport rejected the 20-year franchise granted by the city
In July 1916. On Sept. 28 1917 Mayor Pucbta approved a franchise granted
by the City Council of Cincinnati which in the case of so-called ‘'temporary”
Covington and Newport routes, the former remained in force until Jan. 1
1919 and the latter continues until 24 mos. after ordinance takes effect.
In the case of other routes the grant will remain in force for 25 years after
the date the ordinance takes effect. For terms see V. 105, p. 1617.
On Nov. 19 1917 Federal Judge A. M. Cochran Issued a temporary In
junction restraining the agents or employee# of the city of Newport from
Interfering with the operation of the So. Cov. Sc Cln. St. Ry. and from
tearing up any more tracks. Those which had been torn up were at once
replaced d.v th* co. and operations resumed. Th* trouble arose out of
the franchise litigation between the co. and the city. In Aug. 1918 the
Covington Board of Commissioners adopted a resolution offering to enter
Into a new contract with the co. whereby fares may be Increased from
5 to 6 cents. V. 107, p. 905. Up to Sept 1 1919 this had not been done.
On Apr. 15 1918 a (fecision was handed down In the U. 8. Supreme Court
In favor of the So. Cov. Sc Cln. St. Ry. Co., In the action brought by the
city of Covington to oust the co. from Its streets. V. 106. p. 1688.
STOCK AND BONDS—
D a te .
In terest.
O utstanding.
M a tu rity.
Common, $ ’ 900.000 ($106).............
Q-J
$5,000,000 July 19. 1H
Pref. 4 44 % non cum, $5.-)
•00 .•90 ($100)...................../ -----444 Q-J
4.509.000 July 19. 144
U nd erlyin g Bonds —
So OovAOIe eons M $560,000/ 1892
6 8 J-J
150.000 Jan. 1 1932
gold ($509. $1.900)----------ICovington Sav Bank A Tr. Co.. Trustee.
Cincinnati N ew port A Corington —
1st consol mtge. gold, $3.i / 1892
5 g J-J
2.850.000 July 1 1922
000.009 ($ 1.000) — c» A r.. i Farmer*' Loan Sc Tr. Co. of N. Y .. Trustee.
2d mortgage. Sl.009.900, gf 1S96
5 g J-J
869.000 July 1 1922
($1,000 each).................... clFarmer*' Loan A Truet Co.. N . Y .. Trustee.
U n ion Ligh t, H eat A Power C o .—
.,
f 1901
4 g M-N See text
May 1 1920
1st mtge (closed). gold ($100,1 Int. at Nat. Bank of Commerce. N . Y .: First
$500 A $1.000)------— cAr( National Bank. Cincinnati, or at Liberty
I National Bank. Covington.
2-yr 1st M note* $1,560,900/ 1918 6 g F-A15
1.560.900 Feb 15 1920
($100. $500 & $1,000) g.jlnt. at Cent Tr. Co.. Cln., Trustee, or at
guar----------------------------t f . l Bankers Trust Co.. N. Y.
New mtge ($5.000.000)........... 1915
5%
314,300
1965
Guaranteed Bands—
Licking River Br Co 1st Ml 1914
5 M-S
185.000
1939
$183,000 guar (see text) s f/
B ands. — Of the Hrst consolidated bonds of 1892 of the C. N . A O. Ry..
$150 000 are deposited with the trustee to retire underlying mortgage
hoods. The perpetual charters of constituent companies are kept alive,
snd their capital stocks are deposited with the trustee a* collateral for tbo
first console. Interest on those bonds Is payable at the National F.s...k of
Commerce. New York. First National Rank. Cincinnati, and Liberty Nat.
Bank. Covington. The Union Light, Heat A Power Co. notes were Issued
to refund a like amount or 1st M . 4% bonds due May 1 1918 which were
extended to May 1 1920 and deposited under the notes. The notes are
callable, all or In part, on any Int. date upon 30 days' notice at 100 and int.
The Columbia Gas A Elec. Co. guar., p. & 1., the 1st M . bonds of the Unioe
Lt., Ht. & Pow. Co. and the notes secured thereby. V. 106, p. 827. Addi
tional U. L. H. A P. Co. bonds of 1915 may be Issued for add'ns and better
ments; the Col. Gas A Elec. Co. guarantees a sink, fund to retire all bonds
at or before maturity. V. 101. p. 694. Licking River bonds are guaran
teed by Columbia Gas A Elec. Co. and the South Covington A Cin.St. Ry
DIVIDENDS.— On pref. 444% is being paid (144% quar.). On com
mon stock first div. of 4* % was paid July 16 1907 and 4* % Oct. 15 1907. In
1908 3 M %; In 1909. 34*%.; In 1910. 44* %; In 1911. 44*%.; In 1912,54*% .
In 1913, 54*%; in 1914 and since. 6% per annum.
ROAD.—-Connects Cincinnati, Covington, Newport. Bellevue. Dayton.
Clifton, Southgate. Fort Thomas. Fort Mitchell. West Covington aid
Ludlow. Total In operation, 68 miles; laid with 80-lb. Johnston giril sr
snd 72-lb. " T ” rails.
OFFICERS.— Pres., James M . Hutton; V.-P., Louis J. Hauck; Sec A
Treas., George M. Abbott.— V. 105, p. 1617; V. 106, p. 821. 924. 16*1.
V. 107. p. 905. 1099.
DALLAS, TEXAS.
DALLAS
[V ol . 109
ELECTRIC RAILWAYS
36
R A IL W A Y
CO.
ORGAN IZATION .— Tncorp. In Texas on Sept. 22 1917 to take over and
operate the electric railway properties formerly owned by the Dallas Elec.
Lt. & Pow. Co. (see Dallas Electric Co. in this Section for Sept. 1917) under
the “ service-at-cost ' franchise approved by the citizens of Dallas at an
election held April 3 1917. Formal acceptance of the franchise was filed
Sept. 27.1917. V. 105. p. 1419. The lighting properties of the Dallas
Electric Lt. & Pow. Co. were taken over by the Dallas Power A Light Co.,
which see below.
The company leases with the right to purchase for $2,000,000. the Oak
Cliff lines of the Northern Texas Traction Co. at an annual rental increasing
from $115,000 for the first three years to $150,000 the seventh year and
thereafter.
„
.
On Sept. 30 1917 purchased the Dallas Interurban Terminal Associa
tion, which has a modern fireproof eight-story passenger terminal and
office building in the business district of Dallas, and assumed Its notes.
The terminal facilities have been leased for 20 years to the three interuroan
lines entering Dallas. The terminal was opened for service Sept. 1 1916.
Franchise.— The franchise permit* a return of 7% on the property value,
fixed at $7,561,749. and provides for: (a) an interurban not less than 30
miles in length, from some outside point into Dallas, work to be begun
within six months from the time of operation under the ordinance, and line
to be put in actual service within 13 months from that date unless prevented
by causes which could not have been reasonably anticipated; (&) an Inter
urban not less than 30 miles in length from some outside point into Dallas,
work to begin within six months from the time when the gross earnings or
the lines east, of the Trinity River, excluding interurban*, shall bear the
same proportion to the then property value as did the gross earnings to
property value in 1913: (c) an expenditure of $1,000,009 ini altering, re
constructing, rearranging and improving the properties orig nally put in
operation by the company, the city to receive $200,000 damages for failure
to comply with the agreement (see program of improvements, Ac., in
V. 105. p. 2271); (d) Fares— (1) cash fare 5c. 22 tickets fo r $ l: (2) cash fare
5c., 6 tickets for 25c.; (3) cash fare 5c., 7 tickets for 25c.; (4) cash fare 5c.,
8 tickets for 25c.; said schedules to be applied as follows; Whenever after
paying or providing for the return on property value, the repair, mainten
ance and depreciation reserve and the accident reserve are not loss than
normal and the surplus reserve exceeds normal by 50% , the fares shall be
reduced to the next lower schedule than the one then in force, and if after
operating six months the surplus reserve exceeds normal by 30% , the fares
shall again be reduced to the next lower schedule, and further reductions
shall be made at six months intervals until the surplus reserve shall amount
to less than 10% in excess o f normal. Whenever the surplus reserve is
reduced to one-half of normal. the grantee may at six months intervals
put in force the next higher schedule than the one then In force until the
surplus reserve equals 90% o f normal. Children under 12 and students
antler 17 years of age, shall be carried for half-fare. For further details
see V. 105, p. 1419.
Wanes.— On Feb. 1 1918 increased the wages of trainmen by 2 cents per
hour. In addition to this increase the men are to receive % of whatever
sum they may save out of an annual appropriation o f 414% o f gross re
ceipts for accidents. See also V. 109, p. 1079.
STOCK AND BONDS—
Date.
Interest. Outstanding.
M itunty.
Common, $2,250,000 ($100)..................................... $2,250,000
...............
Preferred $500,000 7% ($100)............................... ..
500.000
Dallas Elec Term M notes/ 1916
6 J-J
750,000 Jan 21 1921
$l,000.000($500A$l,000)c*.(Int. at State St. Tr. C o.. Boston, Trustee.
Unsecured n o te s ..................... 1917
6%
2,600,000 April 1 1922
Slock.— Pref. stock is entitled to 7% non-cum. divs. up to Sept. 30 1920,
and to 7% cum. divs. thereafter. Red. at 110 and divs. on 60 day notice.
Notes.— The Dallas Term. M . notes have been assumed by the Dallas
R y. Co. Red. as a whole at any time at 101 and int.
EARN ING S.— For cal. year 1918, gross. $1,732,298; net, $218,838. In
1917, gross, $1,331,095; net, $289,025.
ROAD.— Owns and operates 69.2 miles of track In the city of Dallas and
suburbs In addition to the leased Oak Cliff lines. 237 cars. Standard gauge.
OFFICERS.— Chairman o f Board. C. W . Hobson; Pres., J. F. Strick
land; V .-P ’s., J. C. Duke. C. E. Calder and Richard Meriwether; Sec.Treas., J. B. Walker; Gen. M gr., R. Meriwether.— V. 105, p. 1419, 1522,
1617, 1707, 2271; V. 108, p. 1274, 2241; V. 109, p. 1079.
OFFICERS.— Pres.. J. F. Strickland; V.-Ps., W . B. Head, II. P.
Gibney and E. W. Hill; V.-P. A Gen. M gr.. Fred. M . Lege. Jr.; Sec. A
Treas., C. E. Calder; Asst. Soc.-Treas., J. C. Thompson and C. L. Cox.
Management.— Operations are supervised by Electric Bond A Share Co.
— V. 106. p. 824: V. 108. p. 2332; V. 109, p. 175. 274, 479. 984.
TEXAS ELECTRIC RAILWAY.
O R G A N IZA TIO N .— Incorp. In Texas July 5 1916 and Is a consolida
tion of the Texas Traction Co. and Southern Traction Co. (see V. 104, p.
562. 660), comprising a modern, high-speed electric Interurban railway sys
tem serving * number of cities and towus In Texas, in and adjacent to the
'Black Waxy Belt " Including Dallas, Waco, Denison. Sherman. Corsi
cana. W.«xahachle and McKinney. Also owns and operates the local
street railway systems In all of theae cities except Dallas. Present estimated
population connected and served, 325.000. Leasee for 20 y««rs from Dec.
17 1915 the terminal facilities of the Dallas R y. Interurban lines are
located on private right-of-way; city franchises are satisfactory, and, in the
opinion of counsol. with two unimportant exceptions, extend well beyond
1947. Enters Dallas over tracks of the Dallas Railway Co. under long-term
contract.
Fare Increase.— In Nov. 1917 the company announced an increase in
passenger rates from about 2 44 eonts to about 2 4 cents per mile to cover
Federal taxed and Increased costs of operation.
Strike.— A strike begun Mar. 1 1918 was called off on M ay 9 1918, the
men returning to work under old conditions. V. 106, p. 2230.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
.......... .
Com stock $6,000,000 ($100).................................. $ 6 ,0 0 0 ,0 0 0
1st pf 7% cum $l.500,000($100)_______
Q-J
700.000 July 19.1 H
2d pref stock $3.000.000($100) . . .
Q-F
3.0 0)0 00 A u g ,19.154
1st & ref Mtge gold ($500 A\ 1917 5 g J-J
5.571.000 Jau 1 1947
$1.000).......................c ’ n t f/ Harris Trust & Sar. Bank Chicago, Trus.
Oouv debentures $3,000,0001 1917 6 g J-J
1,257,000 Jan 1 1942
($1,000 and $ 5 0 0 )
c*A r/ln t. at St. Louis Un. Tr. <)o., trus., or N. Y .
Texas Traction 1st M sink fdl 1907 5 g J-J
1.253.000 Jan 1 1937
$3,000,000 ($1,000)gc*Artl 1Int. at Old Colony Trust C o.. Boston. Trus.
Den A Sher rirat mortgage,/ 1902
5 J-J
149 000 July 1 1927
$360,000 ($1.000)___ c*tf ( Int. at Illinois Tr. A Sav. Bk.. Chic.. Trus.
Preferred Stock.— Remaining 1st pref. stock is held In treasury. Red. on
any div. date after Jan. I 1922 at 107)4 and div on 30 days' notice. The 2d
pref. stock Is callable on any div. date on 30 days’ notice at 1074 and div.
Bonds.— Additional 1st A ref. bonds may bo Issued for only 75% of the
cost of extensions, Ac., provided net earnings are twice the total annual
interest charge, including bond* applied for. In addlt'on to ordinary re*erves for personal Injuries and damages, $75,000 bonds are provided usable
for this sole purpose. Provision Is aLso made for refunding underlying bonds
A special trust fund for malnt and renewals Is provided out of gross earn
ings as follow*: 1917. 11%; 1918. 12%. 1919. 13%: 1920, 14%; 1921 and
thereafter. 15%. Any part not so used may be expend -I for exts.. A c.,
or for the redemption of any outstanding bonds. Beginning Apr. 1 1921
and yearly thereafter, cash equal to 1% of the 1st A ref. 5* and underlying
bonds outatandlng on the previous Dec 31, less amount of payments
to underlying sink. fds. duringjpreceding year, shall be deposited, usable for
exteas., A c., against which no 1st A ref. 5s shall be issued, or for the retire
ment of 1st A ref. or underlying bonds. The 1st A ref. 5s are red. on any
Int date up to and Incl. Jan 1 1942 at 105 and Int.: thereafter at 102 4 and
Int. Of the amount reported outstanding $52,000 are hold In treasury.
Interest Is payable in Chicago and New York. See offering in V. 106, p.
397. The debs, are callable Jan. 1 1922 and any lot. date thereafter on
JO days notice at 102 4 and Int.; convertible on and after Jan. 1 1922 Into
'
'<™t pref. stock, par for par, with adjustment of Int and divs.
The Texas Traction 1st 6s can be called at 110 A accrued Interest
on any int. date upon 30 days’ notice. $560,000 (not incl. in amouht
reported outstanding) are deposited under 1st A ref. mtge. of the Texas
Electric Railway Co. A sinking fund of 5% of gross earnings began
. t 1 *®12’ l.0 he used In the purchase of bonds; $349,000 held In
sink, fund not Incl. In amount outstanding above. Den A Sher. 1st M .
bonds_ are subject to call since July 1 1917 at 105 and interest on four
weeks notice
A sinking fund began July 1 1905 of 2% per annum of
P 2P .,.0Ut 4 1 .1 1913. whon amount payable became 3% per annum until
1917; fro™ 1918 to 1922. incl., 4% per annum: 1923 to 1926, incl., 5% per
SPP.P.P?' 3132,000 In sinking fund, not Incl. In amount outstanding above:
$3,000 canceled: $2,000 in treasury and $24,000 held by trustee (not incl.
In amount reported outstanding).
Dividends.— Divs. on the first pref. stock were begun Oct. 1 1917.
DALLAS PO W ER & L IG H T CO.
Dividends of 1)4 7o quarterly on the 2d prof, stock were begun Nov. 1 1917.
ORGAN IZATION .— Incorp. in Texas on Sept. 22 1917 to take over and
EARNINGS for years ending Dec. 31:
operate the light and power properties of the Dallas Electric Light A Power
—
dross.
Net (aft. lazes).
Interest.
Bal. surplus.
Co. formerly’ controlled by Dallas Electric Co. (See this section for Sept. 1918.....................$2,381,475
$915,217
$167,397
$177,820
1917) under the franchise approved by the citizens of Dallas at an election
990,636
474,788
515.848
held April 3 1917 and formally accepted on Sept. 27 1917. The railway 1917..................... 2,138,268
— Dwns and operates Interurban linos between Dallas and Deni
properties of the Dallas Elec. L. A P. Co. were taken over by the Dallas
son, ‘ 9.64 m.; Dallas and Waco, 96.52 m.; Dallas and Corsicana, 59.47 m.
Ity. C o., which .see above. V. 105, p. 1423.
_ „
Does substantially all the electric light an d power business in Dallas, (incl. 2d main track, sidings and turnouts, 15.42 m .); local lines in Sherman.
Denison, McKmney, Waco, Corsicana and Waxahachie, Tex., incl. sidings,
serving a population of about 140.000.
„„„ „„„ ,
Franchise.— T h e fr a n c h is e p r o v i d e s f o r a n e x p e n d it u r e o f $2,000,000 In Ac., 35.05 m.; total, 280.66 m. (incl. 9.98 m. of track, being entranco into
Dallas, leased). Gauge 4 ft. 8 4 in. 70-80-lb. " T ” rail. 63 interurban pas
a l t e r i n g , r e c o n s t r u c t i n g a n d r e a r r a n g in g a n d i m p r o v i n g t h e d i s t r i b u t i n g
senger, 65 city passenger, 16 express and baggage and 44 work, Ac., cars;
s y s t e m s , p o w e r p la n t s a n d p r o p e r t ie s a n d In m a k i n g a d d it i o n s a n d e x t e n
total,
188; 14 sub-stations. Leases generating plant to Tox. Pow. A Lt. Co.
s i o n s . $1,000,000 t o b e e x p e n d e d w it h in 18 m o n t h s a f t e r S e p t . 30 1917.
a n d $1,000,000 w it h in t h e s u c c e e d i n g 42 m o n t h s .
F u r t h e r p r o v i s io n s cf from which it purchases power under contract, expiring at same time as leaso.
OFFICERS.— Pres., J. F. Strickland; V .-P., C. E. Calder; V.-P. A Gen.
t h e f r a n c h is e a r e (1 ) a d e f i n i t e ‘ ‘ p r o p e r t y v a l u e ” o n w h ic h t h e c o . Is a u t h o - M gr., Burr Martin; V.-P. A Treas., H. I. Gahagan; Sec., Jas. P. Griffin;
Ized t o earn 8 % p er a n n u m .
T h i s a u t h . r a t e o f r e t u r n is I n c r e a s e d a u t o m a t
Aud., J. A. Wright.— V. 106. p. 2230; V. 108, p. 581.
i c a l l y b y s p e c i f i e d p e r c e n t a g e s i f a n d w h e n t h e m a x i m u m r a t e f o r l ig h t i n g
is r e d u c e d , a n d c o n v e r s e l y is d e c r e a s e d i f , u n d e r c e r t a in c o n d i t i o n s , t h e
m a x i m u m r a t e f o r l ig h t i n g Is i n c r e a s e d .
(2) T h e a g r e e d ‘ ‘p r o p e r t y v a l u e "
o n S e n t . 3 0 1 9 1 7 w a s p l a c e d a t a p p r o x i m a t e l y $4,850,000 p lu s a ll s u b s e q u e n t
a d m i t t e d a d d it i o n s a n d i m p r o v e m e n t s , t h e r e w a s o n J u l y 15 1919 a ‘ ‘ p r o p
e r t y v a l u e " o f a b o u t $6,200,000.
(3) T h e r a t e s f o r s e r v ic e a r e u n d e r t h e
j u r i s d i c t i o n o f t h e c i t y a u t h o r i t ie s , b u t t h e m a x i m u m l ig h t i n g r a t e c a n n o t
r e m a in l o w e r t h a n 6 c e n t s p e r k . w . h o u r u n le s s t h e c o . is e a r n in g t h e fu ll
r a t e o f r e t u r n o n t h e ‘ ‘ p r o p e r t y v a l u e ” a n d in a d d i t i o n is m a i n t a in in g o u t o f
e a r n in g s :
( a ) A “ s u r p lu s r e s e r v e ” o f 8 % o n t h e " p r o p e r t y v a l u e ” ; (5 ) A n
“ a c c i d e n t r e s e r v e ” o f 2 4 % o f t h e g r o s s r e c e ip t s ; (c ) A “ m a i n t e n a n c e a n d
d e p r e c ia t io n r e s e r v e ” o f 6 % o f t h e “ p r o p e r t y v a lu e .”
(4) T h e t e r m o r t h e
fr a n c h is e is t e n y e a r s f r o m A p r i l 3 1917, a n d c o n t in u e s t h e r e a f t e r u n le s s
a n d u n t il t h e c i t y o r it s lic e n s e e s h a ll p u r c h a s e t h e p r o p e r t y , in w h ic h e v e n t
t h e c i t y s h a ll p a y t h e c o . a t le a s t 105% . o r t h e c i t y 's lic e n s e e a t le a s t 110%
o f t h e th e n “ p r o p e r ty v a lu e .”
(5 ) P r o v is io n fo r a r b itra tio n o f d is p u te d
m a tte rs b etw een th e c it y a n d th e c o m p a n y .
D A N B U R Y , CONN.
DANBURY & BETHEL STREET R Y,
New Control.— In Sept. 1917 Stephen Crute, New York, and associates
acquired control. V 105. p. 1208.
Receiver.— On Oct. 30 1917 Judge James K Walsh, of Greenwich, was
appointed receiver of the company on application of A. II Flint holder of
a $1.000 note, overdue. V. 105. p. 1801. Judge Walsh was superseded by
Atty. J. Moss Ives, of Danbury, in Dec. 1917. V. 105. p. 2272.
Committee for 1*1 A Ref. 5s .— Chairman John McCarthy, Danbury.
Conn; Chas. E. Graham, New Haven, Conn., aud P. Le Roy Harwood.
New London, Conn.— V. 106, p. 498.
ORGA N IZA TIO N .— Incorp. May 7 1886 under the laws of Connecticut.
a perpetual special charter, the only street car company serving th*
On June 30 1919 the co. was auth. by the Mayor and the City Comm, Has of
Danbury aud town of Bethel. Its lines also extend to the Danbury
of Dallas to issue not more than $1,500,000 7% cum. pref. stock and $5. city
Fair Grounds and the pleasure resort of Lake Kenosla.
000,000 6% 30-yr. mtge. bonds. The co. in July 1919 issued at par 51,
STOCK AND BONDS—
Date.
Interest. Outstanding. Last D iv..A c
000.000 o f the pref. stock (this was offered to the co’s. employees and
J-J
$320,000 Jan ‘ 12. 2%
patrons— V. 109. p. 984) and $4,500,000 o f the bonds, the proceeds being Stock, $623,000 (par $25).................
339.500 May 1 1M3
used to pay off $1,000,000 1st mtge. 7% notes due Fob. 1 1920 (V. 109, First A ref m ice $600.0001 1913 5 g M-N
($507 and *1.000) o • f__..*|Int. at American Trust Oo.. Bos . Tru-uee.
P- 479) and $4,000,000 6% unsecured notes duo April 1 1922. leaving avail
100.0(H) May l 1936
able for corporate purposes $220,000. The $500,000 unissued bonds were Consol mtge, $300,000. gold/ 1908 5 g M N
($500 and $1.000)____. . . .lin t at American Trust Co., Boston, Trustee.
placed in the treasury o f the co. Y. 109.. p. 274. Compare V. 109. p. 175.
Debenture
bonds.
$75,000,
1908
6
M
-8
63,000 Mar 1 1918
STOCK AND BONDS—
Date.
Interest. Oiitstandina.
Maturity
($1,000 and $500) . ....C l i n t at City National Bank of Danbury.
Com stock $2,000,000 ($100)______
______ $2,000,000 ...........................
Debenture bonds. $150.000.. 1911
6 J-J
OOO Jan 1 1921
Pref. stock $1,500,000 cum...............
7%
1,000.000 ................... Receivers' ctfs $60.000_______ _____
7%
55.000 ___________
1st M Ser “ A ” $5,000,0001 1919
6 g J-J 1
4.500.000 July 11949
Bonds.—
The
1908
debs,
are
red.
at
105
on
any
Int.
date
after due no
($5Q0 A $1,000) goldc *r*tf/OId Colony Trust C o., Boston, Trustoo.
tice. Up to Sept. 1 1919 no action had been taken towards the retirement
Bonds.— Are issuable in series maturing not earlier than July 1 1919• or extension of this Issue, the mattor ‘ ‘automatically remaining in abey
nor later than July 1 1962. and bearing such rates of Int. and red. upon such ance.” Of the 1911 dobonturos, $75,000 aro reservod for like amount of
terms as may be determined by the board o f directors. Additional bonds
of 1908. Of the 5s of 1913. $100,000 aro reserved to retire a
may be issued to the extent or 80% of the cost o f exts., bottermonts and dobenturos
like amount of consol. 5s and $150,000 for retirement of the two debenture
impts. under certain conditions. Otherwise the authorized issue is not
limited as to amount. The series “ A ” bonds are red. all or in part on 30 issues.
Dividends.— In 1896-97. 4 % : In 1 8 9 7 98. 4 % : In 1898-99. 2% ; In 1899
days’ notice at 1074 and int. up to and incl. July 1 1924; 106 4 and int. 1900. 1 4 % : In 1900-01, 1 4 %; In 11)01-02, 3% ; In 1902-03. 3% ; In
through July 1 1929: 105>4 and int. through July 1 1934; 104)4 and int. 1903-04. 1 4 % ; 1907 to 1911. 4 % aun.; In 1912. Jan., 2% . none since.
through July 1 1939: 103 and Int. through July 1 1948; 101 and int. there
ROA D .— Trolley road In Danbury, and from Danbury to Bethel, and to
after. $500,000 are held In the treasury.
Annual sinking and impt.
fund beginning 1924 o f 1 )4 % o f the total amount o f bonds issued. Int. Lake Kenosla. 15.031 miles In all sidings. A c.. 1.011 miles, total. 16.075
miles. 42 passenger and 7 other car*. Standard gauge.
is payable In Boston and New York.
REPO RT.— For cal. years;
_
. _
_ .
EARN S.— Cal. Years—
1918.
1917.
1916.
1915.
dross.
Net.
Int. A Taxes.
Balance
Gross earnings.................*$1,434,367 *$1,267,922 $1,143,065 $1,030,317
1
9
18__________
________
$128,878
$159
$11,194
dcr.$11.035
Net earnings...................
*696.369
*678,708
609.705
544.475
i9 i7 . : .............: : : : : : : : : 141.653
1 9 .1 6 5
3 7 .3 7 1
der. is.387
i y i 8 ......................... : : : : : 1 6 5 .3 2 1
3 7 .9 3 5
6 0 .2 3 4
der. 1 2 .2 9 9
* The present co. began operations Oct. 1 1917.
OFFICERS.— Pres A Oen. Man.. 8tephen Crute, New York; Sec. A
PROPERTY.—Power station capacity. 24.500 h, p. Has over 357
Treas.,
George
H.
Kllnzing,
Danbury
.-j—V.
106,
p.
498,
715.
mFes of distributing lines and over 24,837 connections with customers.
Not .
1919. J
37
ELECTRIC RAILWAYS
D A Y T O N , OHIO.
CITY RAILW AY CO.— A trollev road.
ORGAN ISATION .—Chartered May 12 1893. I« a consolidation or the
Dayton Street UR., the Dayton A Soldiers' Home R R .. the Filth Street
BR. Franchiser run for 50 years from Feb. 8 1892 and Apr" 19 1893.
STOCK — 82.400,000 (5100) com. auth.and Issued and $300,000 ($10w
■i)% pref. ttuih. aud issued. Rond Issues have been paid off.
Dividends.—6% per annum U being paid on pref. Ou common. In 1900
tc 1903. Incl.. 6% ; also 10 2-3% ($250,000 In new stock at par or In cash),
declared Nov. 1903, paid Jau. 1 1904; In 1904, 0% : In 1903. f l « % ; 1900 to
1910. Inclusive. 7% per aim.; In Feb. 1907 paid a special dlv. of 5%
(V. 83. p 1590); In 1911. 7% . and In April 1911 a special dir. o f $9 09 1-11
(V 92, p. 1178); In 1912. Jan.. 1 X % . In March 1912 began paying dlvs.
Q -M Instead of Q.-J., and on March 31 paid IM % : June. 2% ; Sept.. 2%;
Dec 2 %
in 1<)13. 8%
In 1014. 7»A%. In 1916 6%
In 1016
<6)4%. In 1917. 7% . In 1918. 6% . In 1919. M ar.. 1)4% ; June. 1)4% .
EARNINGS.— For calendar years:
Twelve Months— Gross.
Net.
Int. & Taxes.
Surplus.
1917........................ $777,443
$209,449
$74,452
$134,997
1916........................ 766,311
305,124
54.551
250,573
K < '\ D — Controls and operates In all 35 948 miles oi tract, namely. Third
Street Line, Fifth Street Line, Green Line, Kaznmer Ave. Line and Daytoo
A Soldier's Home Line Gauge 4 ft. 8)4 In.; rails 70 and 80 lb. T and
70 and 90 lb girder, operating 42 G. E. 67 and 50 G. E. s00 motor equip
ments, 133 pass, cars, 3 sprinklers, 3 snow cars, 2 sand cars, 3 flat cars
and 1 work car.
OFFICERS.— Pres., E. D. Grimes; 1st V .-P ., G. G. Shaw; 2d V.-P.,
V. Winters; 3d V.-P., G. H. Gorman; Soc., M . Hall: Asst. Sec.. J. S. Mo.Malion- Gen. M gr., T. E. Howell. Main office, 511-514 Mutual Home
Rldg., Dayton.— V. 92. p. 1178. 1564; V . 99. p. 1909; V. 100. p. 53. 1256.
DAYTON COVINQTON & PIOUA TR A C T IO N .— A trolley road.
ORGAN IZATION .—This was formerly known as the Dayton A Troy
Traction, but name changed to the above In Aug. 1901. The D. A T
Traction was Incorporated In Ohio in Jan. 1900 to build a street railway
from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Plqua, about 38 miles. Company acquire* j ih
right to use the tracks of the People's R y. In entering city of Dayton.
STOCK AND BONDS— Date.
interest. Outstanding. Maturw.
Stock auth. $600,000 ($100) ...............................
$600,000 ..................
Pref. 5% n-c. $550,000 (5 1 0 0 )...........................
550.000 ...............
First mortgage. $550,000. gf 1902 5 g A-O
490.000 April 1 1922
($1.000)....................c* n tflln t. at Old Colony Tr. Co., Boston. Trustee
Second mortgage. $60,000. n t f -----6 g M-S
60.000 Sept 1 1919
Bonds.— $60,000 1st mtge. bonds are reserved for extensions and lm
provernonts; 2d mtge. bond* are subject to call on any lnt. date at 105.
EARN INGS.— For years ending June 30:
Year—
Gross.
Net, aft. Taxes. Interest.
Surplus.
1917-18.........................3169,860
$40,199
$29,925
$10,274
1916-17_____________ 166.890
49,016
30.324
18.692
ROAD.— Total track 38 tulles. Standard gauge. 70 lb. T . 80 and 90lb. girder rails. 11 passenger cars, 2 express cars and 7 other cars.
OFFICERS.— Pros., D. Dwyer: V.-P. & Gen. M gr., T . Russell Robin
son; Supt., T . J. Brennan.— V. 77. p. 146.
EA R N ING S.— For year ending June 30 1917. gross, $23,637: oper exp.,
♦20.778; net.$2.859; taxes, $6,386; def.. after taxes. $3,527. In 1915-16,
gross, $27,068; oper. exp., $20,355; net, $6,713; taxes. $2,783: net. after
taxes. $3,930.
RO A D — Operatw 18 miles of track from Delaware to Magnetic Springs
and Richwood.
OFFICERS.—Pres, and Treas., Chas. J. Finger; V .-P ., C. Magee Jr.,
Pitts.; Sec., Chas. J. Fifer, Richwood. O.— V. 108, p. 1164, 1822.
D E N V E R , C OL.
THE DENVER TRAMWAY SYSTEM.
(1) Denver & Northwestern R y.— A bolding company.
ORGAN IZATION . Ac.— In Mar. 1913 a syndicate beaded by Boettcher.
Porter A Co. of Denver acquired a controlling Interest through purchase of
the stock (about $1,600,000) hold by Maraden J. Perry of Providence,
this purchase making Its total holdings about a 75% lnt. V. 96. p- 863.
This company, since the plan In V.9S. p. 1156. went Into effect., h simply
a noldlug company, practically Its only asset being the $9,000,000 common
stock of the Denver Tramway C o., which 1« pledged as security for the $6.
000,000 1st A Coll, bond* of this co., and Its only liability being $6,000,000
of Its capital stock outstanding In the bands of the public, the payment of
its bonds having been assumed by the Denver Tramway Co.
STOCK AND BONDS.— Dale. Interest. Outstanding.
Maturity
Stock $6,000,000 ($100).....................
Q-J 10
$3,000,000
See text
First aud collateral mtge (assumed by Denv. Tram. C o.— see below).
Slock.— $900 is In the treasury.
Dividends.— Prior to July 1909 dividends were at rate of 6% per annum.
In July 1909 quar. dlv. was Increased to 2% and same amount paid quar
terly to July 1913. In Oct. 1913 rate was reduced and 1% was paid
(V. 97. p. 1115). Sams rate quar. to and Incl. April 1915. In July
1915 rate was further reduced to V4 of 1% . Oct. 1915 dividend omitted.
V. 101 p. 1188, 1370. None since.
R E PO RT.— Or Denver Tramway System for fiscal year ending Dec. 31
(Inter-co. transactions eliminated). Report for 1917 in V. 106. p. 2444.
Fiscal
Gross
Net tafter
Other
Deducbalance.
Year— Earnings.
Taxes. A c.).
Income.
tinns.
Surplus.
1917.........$3,419,468
$1,150,352
S19.818
$968,617
$201,553
1916 ..... 3.275.877
1.384.661
21.234
981.162
424.733
OFFICERS.— V.-P., 8. M . Perry; Gen. M gr.. F. W. Hlld: Sec.. H. S.
Robertson; Treas., H. J. Alexander; Aud., W . A. D oty. V. 106, p. 2345.
(2) . Denver Tramway C o.— Operating Company.
The Denver & Northwestern Ry. owns $9,791,700 o f the common stock.
ORGA N IZA TIO N .— Incorp. March 30 1914 In Colorado as successor
to the Denver City Tramway C o., which had previously absorbed the Den
ver Tramway Power Co. and the Denver Tramway Terminal* Co. Owns
entire $500,000 stock of the Oonaoltdatcd Securities A Investing Co. (lneorp. on the same date to succeed the Denver Realty C o.. Boulevard Real
Estate Co. and Denver Excursion C o .). which In turn owns all the outstand
ing stock and bonds of the Denver A Inter-Mountain RR. See plan of re
organization under “ Denver A Northwestern R y.” In V. 98. p. 1156.
Franchises.—Operates within the city of Denver under a general franchise
granted Fob. 5 18»5. Also under a 20-yr. grant voted by tax-paying electors
DAYTON St TR O Y ELECTRIC R Y .— A trolley road.
'
of the city In May 1906, which authorizes it to maintain three-rail tracks,
ORGAN IZATION .— Incorp. 1900. Is built on both public and private gauges 3 ft. 6 In. and 4 ft. 8)4 In., over all Ite present lines within the city
right of way. Completed In Dec. 1901 • In Doc. 1916 received a 20-year and permits the construction of certain viaducts aud extensions. See de
extension or its franchise in Plqua. Ralls, 70-lb. T . Power house located cision In V. 84. p. 220. Under decision of the U. S. Circuit Court of Ap
at Tippecanoe City, Ohio. Stock. $500,000 ($100) com. autb. and Issued peal on Nov. i f 1912 the franchise of 1885 was held valid, the Court de
and $800,000 ($100) 5% cum. pref. autb.; $647,800 Issued. No bonds ciding that In view of the franchise of 1906 It was unnecessary to pass upon
contemplated. In May 1902 took over Miami Valley Ry. under 99-year the duration of the older franchise at that time
The company claims that
lease at a rental of $9,600 per annum, which Is applicable to stock of its franchise Is perpetual. Soe decision In V. 95. p 1472.
$300.000. mortgage having been canceled.
.
Valuation.— In connection with fare hearings the co., in N ov. 1918,
Dividends.— On the pref. stock 5% per annum Is being paid. On com.. placed the reproduction cost of Its properties at $26,772,888, as o f Dec. 31
Jan. 1 1904. 2% ; In 1905. 6% ; In 1906, 6% ; In 1907. 2% ; In 1908, none; in 1917. The P. U. Comrn.’s valuation of the same properties (in this case
1909. 6% ; In 1910. 6% ; In 1911. 5% ; In 1912. M ar., 1)4% . In 19i3, Sept.. “ going value” and items for gravel beds and water rights included la the
1 )4 %; Dec., 1 )* % : In 1914. June. 1)4% ; In 1915, D ec., 1)4% ; In 1916
co.’s figure were not taken into account) fixed the reproduction cost at
and 1917, 5% each. None since.
$19,495,374.
EARN INGS.— For years ending Dec. 31:
Fare Increases.— On Sept. 6 191S the Denver City Council passed an
Year—
Gross.
Net.
Deduct'ns. Dividends. Surplus. ordinance auth. the co. to charge a 6-cent fare on city lines. V. 107, p.
1918 ................. $359,932
$96,731
$40,503
$32,390
$23,838 1003. On Sept. 12 1918 the Col. P. U. Com. auth. the co. to put into ef
319.458
107.704
37.524
57.386
13.266 fect a 6-cent fare beginning Sept. 15 1918. An increase of 3 cents in the
1917 ..............
1916..................... 316.122
139.822
59.930
57.372
22.520 one-way and 8-cents In the round-trip fares on the Interurban lines to
ROAD.— Owns equivalent of 32.68 miles of single track between Dayton Golden and Leyden was also authorized. V. 107, p. 1192. As a result
and Troy
Leases 14.25 miles between Troy and Plqua (Incl. 3.31 m. local of a wage award made by tho Nat'I War Labor Board to the co.'s employees
lines In Plqua); total operated. 46.93 m.
the co. asked for a 7-cent fare with a 1-cent charge for transfers, this
OFFICERS.— Pres., H. P. Clegg; Sec., L. C. Clegg; Treas. A Gen. M gr., petition being granted by the Col. P. U. Comm, on Dec. 17 191S. V. 107,
R. A. Crume; Aud., F. Sprague. General office, Tippecanoe City. Ohio. p. 2376. Compare V. 107, p. 2097. On Dee. 23 1918, however, the
— V. 95. p. 1744; V. 99, p. 48; V. 102. p. 152.
city petitioned the Comm, for a rehearing on the 7-cent fare. V. 103.
p. 77. On Jan. 15 1919 the Comm, suspended tho 7-cent rate with a 1
DAYTON SPRINQFIELD & XENIA SOUTHERN R Y .— Trolley.
cent charge for transfers. V. 108. P- 378. On June 30 1919 the City
ORGAN IZATION .— Incorporated In 1909 as successor to the Dayton k
Council repealed tho ordinance passed Sept. 6 1918 allowing the co. to
Xenia Transit C o., sold at foreclosure. Stock, auth. and outstanding. charge a 6-cont fare. The 5-cent fare was restored July 5 1919. V. 109,
2 0 0 .000 com. and $300,000 pref.
Par $100. 1st M. auth. and Issued. p. 172. Because of tho decreased fare, the co. on July 7 reduced wages to
500,000.
Earnings for year endlnir June 30 1915. gross. $178,884; net. the pre-war scale, which resulted In a throe-day strike. This was settled
$35,620. No later statement furnished.
bv the city agreeing to pass an ordinance restoring the 6-cent fare in two
KOAD.— Owns and operates about 24 miles o f track from Dayton to weeks (V. 109, p. 477). An election is to be held on Oct. 22 1919. at which
Xenia and from Dayton to Beaverton. On Dec. 1 1917 operations between time the servlce-at-cost plan of the Citizens’ Committee (see V. 108, p.
Beaverton and Spring Valley, 11)4 miles, having proven unprofitable, 2329; V. 109, p. 775) is to be considered. V. 109. p. 270. 477, 1079.
wero discontinued and that portion of the line was subsequently dis
Report of Citizens' Committee Recommending Service at Cost.— See V.
mantled. Pres., C. J. Fernedlng; V.-P., T . A. Ferneding; Sec. A Treas., 108, p. 2329.
II. L- Ferdeding, all of Dayton.— V. 89. p. 285; V. 105, p. 2272.
Wage Award by National War Labor Board.— V . 107, p . 1977.
In March 1919 the company announced its inability, caused by abnormal
OAKWOOD STREET RAILW AY CO.— A trolley road.
conditions, to take ud or refund the $2,000,000 1st M . 5s of the Denver
ORGANIZATION.— Incorporated July 22 1870 In Ohio. Franchise ex City Tramway Co. duo April 1 1919. The co. therefore arranged for an
pires 1941
In Oct. 1909 the Ohio Supremo Court held the franchise valid extension of these bonds at 6% to April l 1924. The extended issue is
over the objections of the City Solicitor. Stock auth. and outstanding. redeemable as a whole at 102)4 on any Interest date. V. 108, p. 1060.
«500 000 (par $100). No bonds. Operates 8 miles of track In Dayton and
The $2,500,000 conv. 6% bonds of the co. due April 1 1919 wore ex
suburbs and leases (from Jan. 1 1916) tbe Oakwood R R .'s line In Oakwood changed for an issue of 3-year 7% coll, trust notes due April l 1922.
•illaire: totAl miles operated, 10.5 Standard gauge. Pres. A Treas.,
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
________ ; V.-P., H. P. Clegg; Sec. A Gen. M gr., Henry Gebh&rt.
_________ $10,000,000 ___________
Common stock $10.000,000________
iffoY Dayton.— V. 100. p. 1438.
^
Pref «tk $3,000,000 (7% cum )_____
. . ______ Her text
________
Coll trust notes gold_________ 1919
7%
2,500,000 Apr. 1 1922
D E C A T U R , IN D I A N A .
b ea r A N W Ry l»t A coll M ( 1902 5 g M-N
493,100 May 1 ly32
it $6,000,000 ($500 andllnt. at Bankers
Trust C o., NewYork.
FORT WAYNE & DECATUR TRACTION CO.
ORGAN IZATION .— Incorp. on June 1 1916 to succeed the FortWayne &
$1,000 (assumed)______c*[ trustee; also office of co. in Denver.
Snrlngfleld R y., bought in at receiver's sale on Dec. 2 1916 (see V. 101. p.
■ Red at 105 and lnt. on 90 days' notice.
i>lJ4 ) On June 23 1916 the Indiana P. S Comm, approved the purchase. Den City Tr Co 1st A ref M ( 1908
5 g M -N
11.502,900 Nov 11933
$25,090,000 K ($500 andjlnt. at Bankers Trust C o.. New York.
* Fares.— In Jan. 1918 was auth. by the I.-S. C. Comm, to Increase
nassenger fares 15%. In Jan. 1919 applied to the Ind. P. S. Comm, for
$1,000) sinking fu n d -.c*tf
trustee, and In Denver.
Deny City Tram purchase [ 1899 6 1 A-O
2.000.000 Apr 1 1924
auth to increase fares from 2)4 to 2)4 cents per mile. V. 108. p. 480.
money mtge g S2.000.000j lnt at Central Trust C o.. N Y .. trustee.
a STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity
($500 and $1,000)____c * tf[ and in Denver (see text above).
stock $150,000 ($100).......................................
$150,000 ........... ........
1.167.000 Oct 1 1933
Plrst mortgage $200,000 gold! 1916
6%
160.000 June 1 1926 Dear Cons Tram cons mtgel 1893 6 < A-O
$4,000,000 gold_______ n tf)In t.a tB k rsT r.C o..N .Y .tru stee A In Denver
($1 000)
- - - - - - - - - - - Jlnt. at Tri-State L. A Tr.Co..Ft.W ayno.trus
E ARNINGS.— For years ending Dec. 31:
Denv Tr Pow 1st Imp! rutgef 1903 5 g A-O
910.000 Apr 1 1923
r'ni Years—
Gross.
Net, aft. Taxes. Interest.
Balance.
$1,500,000 g ($1,000) guar] lnt. at Internat. T r. C o.. Denver, trustee.
principal and Interest__ t fl or Guaranty Trust Co New York.
10Vq
.........$57,303
$9,607
$9,360
sur. $247
in , 7 ................................ 53.249
3.772
8,020
def.4.248
Denv Tr Term 1st mtge $ l ,- f 1910 5 g M-S
1,093.000
See text
*R O A Y )'— Operates 21.6 miles between Decatur and Ft. Waye. Total
500.000 g ($100 A $1.000)(Interest at Bankers Trust C o.. N . Y .. trusguar prln A ln t_______ c*tf [ toe. and In Denver.
irack, 23.7 miles. 70-lb. T rail; gauge. 4 ft. 8)4 in.— V. 108. p. 480.
Stock.— $9,791,700 common owned by Denver A Northwestern Ry. and
$750,000 ts held for conversion of Denv. Tramway conv. bonds, the remain
D ELAW AR E, OHIO.
ing $250,000 being set aside for expenses of organising I)*nvw Tr. C o.
Bonds.— Of the bonds reported outstanding as above, $1,375,050 Denver
COLUMBUS MAGNETIC SPRINGS & NORTHERN R Y .
Receiver__On Aug. 24 1918 the Common Pleas Court o f Delaware City Tramway 1st A ref 5« and $18,000 Denver Tramway Terminals 1st
■County, Ohio, appointed Pres, aud Treas. Chas. J. Finger receiver for the 5s are owned by tho Denver Tramway Company. Of the Denver A
Northwestern first and collateral mortgage bonds, $5,503,000 have been
C°Abandonment Auth vised.— Tho co. was auth. by the Ohio P. U. Comm, to exchanged for Denver City Tramway first and refunding 5s, and $900
.abandon its lino operating from Delaware through Magnetic Springs on are in treasury of Denver Tramway Co. (not included in amount re
ported outstanding). Of tho Denver Consolidated Tramway first consoli
— T?ie property of the company was sold on April 22 1919 to Fishel dated 5s, $163,000 have boon canceled and $2,670,000 havo been exchanged
A Marks Co. Cleveland, under a decree of foreclosure to satisfy tho first for Denver City Tramway 1st A Ref. 5s. The Denver City Tramway
mtire dated Nov. 1 1903. tho price being $88,133 (two-thirds o f tho ap C o., prior to tho sale of its properties, executed a mtge. upon all Its physical
properties (other than those formerly belonging to the Denver A North
praised valuo). V. 108. p. 1822. Compare V. 108. p. 1164.
ORGAN IZATION .— Incorporated In OnlO on Oct. 15 1906. and U> a western R y. Co.) junior to tho lion of its First A Ref. S. F. Mtge. (originally
consolidation of the Delaware A Magnetic Springs Ry and the Rlchwood matured Apr. 1 1919 and bore int. at 5% , but were extended to Apr. 1 1924
& Magnetic Springs Rv
Private right of way except In City o f Richwood. at 6% ) as additional security for tho [$6,000,000] First A Collat. bonds of the
Denv. A Northw. C o., tho payment of which Northwestern bonds the Denv.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Tramway Co. has assumed. Denver City Tr. Co. 1st A Ref. bouds are
Common. $200,000 ($100).....................................
*!?,?, £ $ ...................
red. at 105 A lnt. after 1913 up to Nov. I 1923; thereafter at 102
A Int.
Pref 0% n-c. $200 000--------- -----------------100.000 ---------------•C M S A N 1st M $400,000. Rf 1906
5 g M-N
250.000 Nov 1 1931 on 60 days’ notice. Sinking fund of 1% of bonds out began Nov. 1 1914
($1 000) cannot be called .(Interest at Colonial Trust C o.. Pittsburgh, until and Incl. Nov. 1 19213; thereafter 2% of bonds out; $860,500 retired
through sinking fund. The Denver Tramway Power Co. 1st Impt. Mtge.
and no slnklnt fu n d -.c « t fl Trustee.
f
38
E L E C T R IC
bonds are sub), to call any Int. date at 105 and int., sinking fund o f $5 0 ,0 0 0
dot annum, to retire bonds at 105 and Int.. commenced in 1908. and $560,
000 hare been retired. Int. payable In New York and Denver. The re
main in* Denv. Tram. Term. Oo. bonds are for irapt*. They matur
$60,000 annually Sept. I 1916 to 1940. Red. as a whole on any Int. day
at 105 * int. on 80 days' notice. V. 98. p. 1156. $240,000 retired
RE PO RT.— Of Denver Tramway Co. (1917 report In V. 106, p. 2444):
One 31 Year—
Gross Netiaft. I'ac. A c.) Oth. Inc Or due. Bal.,Sur
1917 ---- -------- ------ $3,279,576 $1,143,474 $2,412 $968,617 $177,269
1918 ................... . 3.118.920
1.356.897 3.182
981.182
378.917
ROAD AND EQUIPM ENT.— Including the Denver & Inter-Mountain
B R . owns 250.40 miles of electric track, of which there are 210.43 miles of
city lines and 39 97 miles o f Intarurban lines; games. 3 ft 6 In. and 4 ft
8!-$ in
252 motor passenger cars, 141 trailers. 153 freight and 79 raise
cars: total. 625 cars. All freight equipment leased to Denver & Inter
Mountain RR Co. Capacity of central generating plant. 19.200 k. w
sub-stations, 2 o f 1,500 k. w. each. 2 of 1,000 k. w. and 1 of 900 k. w.
O F F IC E R S . — Chairman o f Board. O. Boettcher: V .-P., 9. M . Perry
Gen. M gr., F. W . Hild; Sec., H. S. Robertson; Treas., H. J. Alexander.
A u d .,W m .A . Doty.— V. 108. p. 2329: V. 109. p. 172.270.477.775. 1079.
(3) Denver & Inter-M ountain R R .—Operating Company.
The Consolidated Securities A Invest. Co. owns all the stock and notes.
ORGAN IZATION .— Incorporated in Colorado about Oct. 29 1907 as
Inter-Mountain Ry., but on April 2 1909 changed name to present title
Private right of way. Franchises in Denver and Oolden are perpetual
Has freight traffic agreements with Denver Tramway Co. and arrange
m enu for Interchange of transfers on Denver City lines; also contract for
use of Tramway Co 's tracks In enteritis Denver.
Fare Increase.— On June 22 1918 filed with the Col. P. U. Comm, a
new tariff providing for a fare Increase from 2 H cents to 3 cents a mile
and an increase o f 10% In commutation rates.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
8tock. $1,000 000 C$1 0 0 ) . . ...................................
$1,000,000 .................
1st mtge notes__________ ______ _
5%
500,000
1938
The notes were issued in lieu of $500,000 1st M . 5s due 1938, which
were canceled and cremated N ov. 1 1917.
R O A D , &C.— Inch in Denver Tramway Co.— V. 107, p. 82.
R A IL W A Y S
[V o l . 109
$100,000 due Oct. 1 1919. The debentures of 1916 are callable on any Int.
date up to and Incl. Mar. 1 1921 at 102>4 and Int.; thereafter at 101 and int.
R E PO R T .— For year ending Dec 31 1918, gross. $1,715,337; net
after taxes. $293,619.
ROAD.— Operates 88.96 miles o f track. 35 to 129-lb. rails. 153 pas
senger, 32 service cars and 14 passenger trailers.
OFFICERS — Pres., Emil G. Schmidt; Sec.. O. H. Bernd; Treas.. F. M .
Harris; Asst. Sec. A Asst. Treas., H. A. Dow.— V. 106, p. 2450, 2559; V.
107. p. 401, 802, 1287, 2376; V. 108, p. 268, 878; V. 109, p. 775, 981.
INTER-URBAN RAILW AY CO.— A trolley road.
O RGAN IZATION .— Incorporated In Iowa to construct a system o f
(nterurban road* connecting with Des Moines. The Des Moines City R y.
Oo. guarantees the bond*, principal and Intereet
The location of Camp Dodge 11 milt* outside of Dee Moines made It
necessary for the company to extend its Perry line about 2
miles and to
provide additional terminal facilities. Double-tracking of the lino to the
camp was completed April 1 1918. Civilians pay 25 cents and soldier*
15 cents on this line.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
_______
$1,160,000 ...................
Itock. $1,200,000 ($100)...................
l«t mortgage. *lnklng fund, 1901
5 g A-O
1.160.000 April 1 1921
gold ($1,000), guaranteed Copt. A Comm. Tr A S a». Bk., Chic., Trus.
p. A 1. by Des Molnea City Int. at Harris, Forbes A Oo.. Now York, and
Harris Trust A Saving* Bank. Chicago.
Ry —
----------- -- — c * _ n t f
Debentures. $350 0OO ($1.000 1913
6 J-J
250.000 Jan I 1923
aad $500), - ________n
___________
tf Int at Harris Tr A Sav Bk . Chic. Trustee
Bonds —Other bond* may be iasued for acquisitions and extensions at
not over $0% of cost and at not over $16,200 per mile for new road but only
when net earning* equal l u times all lut charge* on bonds out and those to
bo Iasued
Bond* are «ubj. to call at 105 ana int
A sinking fund of 5%
of bal. of aahual net earn*., after payment of ail charge* became operative
April 1 1906. and bonds so purchased are to be kept ailvefir purposes of tha
fund; $26,000 is held to sinking fund Included In amt.outstanding above
Debenture* are red on any Int. date at 101 and Int.
EARNINGS. — For year ending Dec. 31 1917. gron*. $760,392: net,
after taxes. $119,638.
.
ROAD.— Operate* 82.8 miles of track (Incl siding*) connecting Des
D iS E n y P A .
M lines and Colfax. De* Moines and Perry, with branch to Woodward.
WESTMORELAND COUNTY RAILW AY CO.
Standard gauge: 60 and 70-lb. T rail. 12 pass. cars. 4 pass, coaches,
O RGAN IZATION .— Incorporated In Pennsylvania on Dec. 27 1904. Is 7 electric engines. 5 express. 3 caboose. 87 freight and 19 service cars. Cars
a consolidation of the Bradenville 5c Derrjr Street Ry. and the Blairsvllle & enter Des Moines over tracks of Des Moines City Ry.
Derry Street Ry.
OFFICERS.— Same as for Des Molue* City R y.— V. 74, p. 680
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock. $500,000 ($50) - ...........................................
$.500.000 .................
First mortgage. $250,000. gf 1905
6 g M-S
207.900 Mar 1 1931.
D E T R O IT , M IC H .
($100)_________________ c*\Int. at East End Sav. & Tr. C o., Pitts.. Trus
Car trusts................................. 1915
M-S
6 600 See text
DETROIT UNITED RAILWAY.— (.See Map page 39 ) — Trolley.
Bonds.— No sinking fund and bonds are not subject to call. Of the
ORGANIZATION.— Incorporated in Michigan Dec. 31 1900 and took
amount reported outstanding $42,100 are held In treasury.
over franchise* and properties of the Detroit Citizens’ Street Ry , the De
The car trust* mature $600 ».-a.. March and Sept. 15. $5,400 retired.
troit Electric Ry.. the Detroit Ft Wayne A Belle Die and the Detroit Sub
EAR N IN G S.— For years ending Dec. 31:
V. 72. p. 44 .183. Embraces all the street railway IInos in Detroit.
Cal.Yr. Gross.
Net.
Oth. Inc. Interest. Taxes. Misc.Ded. Surplus. urban.
Later absorbed by purchase the Detroit A Northwestern Ry . which le
1918--.560.09t $29,895
$775
$11,875
$2,978 $21,191
$3,626 known
as the Orchard Lake division, the Detroit A Pontiac Ry . known
1 9 1 7 -.. 53,387 25.737
1.913
12.786
616
9.000
5,248
to the Pontiac division, the Wyandotte A Detroit River Ry known as the
Passengers carried in 1918, 1,201.889, against 1,056,113 In 1917.
Wyandotte division, and the Detroit A Flint, formerly the Detroit RocbesR O A D .—Operate* 7 mile* of track.
ter Romeo A Lake Orion Ry.. and known a* the Flint division.
O FFinE R S — Pres.. John R Potter; V.-P*., F. Wra. Rudeil and J. A
Own* entire capital stock of the Detroit A Port Huron Shore Lino (Rapid
McComb; Sec. & Treas., H. 3. Calvert, all o f Pittsburgh; Supt., S. F. „Railway
System): Sandwich Windsor A Amherstburg Ry. (acquired In
Schwerdt, Derry.— V. 82, p. 50.
^bg. 1901): Detroit Monroe A Toledo Short Line Ry. (acquired in Feb.
1906) and the Detroit Jackson A Chicago Ry. The last-named Is a re
organization of the Detroit Ypsllantl Ann Arbor A Jackson Ry., the Jaek•on Ann Arbor A Detroit Ry. and the Detroit Plymouth A Northviile Ry..
DBS MOINES C ITY RAILW AY C O .— A trolley road.
Receivers A p p o in te d . — In Dec. 1918 Judge Martin A. Wade in the U. S. which were acquired in Jan. 1907. Also owns the entire capital stock of
Detroit Almout A Northern R R .. which It leases for 50 year* from 1915.
D ist. Court, upon the co .’s application, named Homer A. Miller, and Emil the
ana guarantees and assumes Its bonds as a direct obligation, by endorsem't.
G. Schmidt <Pres.) to act as joint receivers o f the co. V. 107. p. 2376.
In Aug 1901 purchased 180 shares (all) of the stock of the City Electric
On Aug. 18 1919 Judge Wade auth. the receivers to Issue receiver’s certifs. Ry_
and the People'* Electric Light plant of Windsor, Ont
t o p iy $100,000 back pay demanded by striking employees. V. 109, p.
— On May 22 1916, Pres J. O Hutchins wrote: “ Certain of
775, 981.
franchise* in Detroit have expired during the past several years. These
In March 1911 N . W . Harris of Chicago acquired practically all the the
franchise*, which relate to about 15% of the total mileage. have not been
stock not previously owned by him of the Des Moines City R y. Co. and renewed,
but the Detroit United Ry. continues to operate these tine# in
of its allied corporation, the Inter-Urban Ry. Co. V. 92. p. 794.
question as heretofore, having made agreements with the city authorities
ORGAN IZATION .— A consolidation in 1893 of the Des Moines St. RR
'
or
!??»!
°
* / are (but *ee remarks below) and extension* or Its lines. These
Oo. and the De* Moines Suburban Ry. Oo. 1* authorized to carry freight
have created what may bo called an indeterminate franchise,
. Franchise.— A new 25-year franchise was granted at an election on Nov. 29 conditions
which the management anticipates will continue in force a* heretofore so
1915 which places entire control of service In the hands of a commission long
as
the
co.
furnishes Its present efficient service at existing low average
(one member appointed by city and the other by the co.) and provides for
k d o w .) For decisions relating to Fort St. franchise sen V. 95.
arbitration when the commission cannot agree. Also provides for 6 tickets p. 890: V. ^
98. p. 917. 1558.
f or 25 eta . half-fare for children under 12 and 20 tickets for 50 cts. for high
Appraisal of Company s Property.— InO ct. 191.5 Prof. Mortimer E. Cooley
school students. In June 1918 the sale o f 6-for-a-quarter tickets was
a report of hi* appraisal of the company s property, which fixed the
suspended for the duration o f the war In order to provide for increased riled
value
t h e one-fare tone on Jan. 1 191.5 at $29,714,079. or less deprecia
wages o f carmen. V. 106, p. 2559: V. 107, p. 401. The city, when em- tion, atla
$23,608,665; physical value of entire *y*tam $48,400,764. with depowere 1 to do so. may purchase the property on 6 mos.’ notlco on the basis 0 c«0 . COn^I<
4*ar1. $43.0.51.682, The value of all fran hlse* was pi iced at
o f a $5,000,000 valuation as o f Aug. 1 1915. For further details, see
value of D. U. Ry. system. $ >6.181.165. or loss depfec..
V. 101, p. 1885. The franchise also provided for rehabilitation and now Io0.81o.083. Total
V. 101. p. 1464. Compare V. 100. p. 139. 308.
construction, the major portion of which has already been aoeinplished.
City
Purchase
Plan
Dfeated.— V. 101. p 1553
R e f i n a n c i n g . — A new General A Refuudlng Mtge. was created In 1916
to carr.» >ut the term* of the above franchise and provide for future capita1
City Purchase Again Brought Up.— In July 1918 the Detroit Street R R .
expenditures. Owners of the $2,202,000 5% Rer. M. bonds of 1901 de Comm, reopened negotiations with the co. for the purchase of Its properties
posited with the committee formed upon default o f Int due Apr. 1 1918 upon somo agreeable basis'. V. 107. p. 181; V. 108, p. 378. On Feb. 12'
on said bond* (V. 100. p. 1348) w*re given the opportunity to (1) exchange 1919 the co. declined the city's offer to purchase the system within the
certificate* of deposit for new bond*. $ for $. and receive a bonus of 5% 5-cent faro zone for $29,653,936. V. 108. p. 781. The co. a few day*
($50) in cash with adjustment of Int. In ca*h or (2) receive payment In full later made a counter proposal that the city lease the street railway proper
In cash. The committee waived all default* under the Ref. M . (V. 100 ties of the co. at an annual rental of $2,010,000. This was rejected by
p . 1348) and consented to the d!*charge of the receiver (V. 101. p. 130)
the city officials and the Street Ry. Comm. V. 108. p. 878. On March 10
V. 102. p. 712. All but $54,000 of the $2,413,000 Ref. M . bonds outstand
1919 an agreement was reached between the co. and the city officials for
tng have been acquired and deposited under the Gen. A Ref. Mtge.
the sale of the co.'s properties to the city at a compromise price of $31
Guarantors the Inter-Urban Rv Oo. 1st M bond* p Sc i 8«* below
500.000. This agreement providedfor the payment of $15 000 000 in cash,
New Preferred Stock.— On May 15 1918 stockholders voted to increase the remainder to be paid on a partial payment basis. V. 108 p 1164.
the auth. capital stock from $3,000,000 common and $250,000 6% On April 7 1919. however, this proposition was submitted to tho pooplo for
non-cum. pref. stock to $3,000,000 common and $1,500,000 7% cum. prof
ratification and dofeatod by a vote of 70,271 to 63,883. V. 108 p 1511.
stock. The new prof, stock carries the same voting powers as the common
Report by Engineers to Board of Street Ry. Comm. See V. 108
929
stock and Ls cum. from M ay 1 1918 and callable, ad or In part, on any div.
Back Taxes Paid. —V. 97, p. 443. 1115.
'
date at 107 \4 and divs. V. 106, p. 2010.
Fare Decision.— The United States Supreme Court on Doc. 11 1910 up
Fares.— In F eb.1919 Judge VVado In the Federal Court refused to auth. held the c o .’s right to charge extra fares for transporting pa*»e'ngers bovond
she co.'s receivers to increase the rate o f fare. The court held that if th* old city limit* into territory which ha* *lnce been brought within the
the co .’ s earnings are not sufficient to meet the fixed charges provided for city as at present extended: also held the co. need not sell reduced rate
In the franchise, the service must be adjusted to the Income. V. 10.8, p. 878. "workingmen * hour" ticket* In the annexed territory
The o^ople were to vote on an increase in fares at a special election to have
Fares.— On Dec. 2 1917 tho company began charging a straight 5
been Me d oa Sept. 22 1919. V. 109, p. 775, 981.
cent fare, thus abrogating the 7 and 8-tickots-for-2.5-cts. agreement
entered into with the city on Aug. 8 1913 (see V. 97. p. 44?1), The
Interest. Outstanding.
Maturity
STUCK AND BONDS—
Date.
...................................... $1,055,000.. . higher rate of fare applies on all city lines except tho Sherman, Four
Common $3,000,000 ( $ 1 0 0 ) . . ____
...........
250,000
................ teenth. Croistown and Harper lines, where the old rate* of g for 25c. and
P ref., 7% cum.. $1.500.000...................
Dus Moines Street RR 1st M .f 1889
8g A O
81.000 Oct. 1 1919 6 for 25c. continue under a franchise with 7 year* to run. By wav of re
prisal. the City Council on Dec. 4 1917 (u) adopted a resolution directing
(See text)
gold ($1,000 each)------- n tfj..
the company to pay a rental of $10,000 a day for the use of streets on which
iOont .AComm .Tr .ASav .Bk . ,Chic..trustee
Des Molnea City Ry refund'g f 1901
S i 1 -0
29,000 Aorll 1 192) franchise* have expired; (6) rescinded permission to operate skip—top on
mtge
$3,000,000. gold IInt. at Hand*. Forbes 3c C o.. N. Y.; also practically all city line*: (c) recalled the resolution under which the co had
rerouted many lines downtown; (d) placed a fund of $35,000 at the disposal
Harrl* Tr. k 3. Bk.. Chic. Trustee. Ill Tr
($1.000)................... c * .n t f(
of the Municipal Railway Commission to employ engineers to determine
A Sav. Bk and Wm H FTenkle of Chic
whether the Increase i* Justified, and (e) Instructed the Corporation Counsel
Des Moines Cltv Ry Gen Sc I 1916
,6 J-J
4.735.000 Jan 11936
to ascertain whether the co. has any right to operate freight and Interurban
Ref M . $15,000,000, gold
Harris Tr. A Savs Bk.. Chicago. Trustee
cars
within the city of Detroit. V. 105, p. 2365. At the beginning of
($500 and $1.000)___ c * _ .i
Interest at New York and Chicago.
Debentures
($2,000,000)
.......
........................goldf
..
1916
6 g M-S
1.100.000 Mar 11926 Aug. 1918 fares were Increased to 6 cents, or 10 tickets for 5 5 cents. V.
1071 p. 603. On Aug. 9 1918, however, the Detroit Common Council
($1,000)----------------- c*ntf\Int. at III. Tr. A 3. Bk.. Chicago, trusts)
passed an ordinance fixing 5 cts. or 6 rides for 25 cts., with free transfer*, as
Receiver’s certificates________ _____
_______
See text
__________
Bonds.—$160.1)00 Gen. & Raf M bonds of I9l6>re reserved to retire no a reasonable charge on the co.’s lines. A restraining writ was applied for by
deriving liens. An additional $762,000 bond* may b» Issued for the full the co. but Judge Tuttle in the U. 8. DLst. Court refused to hear the plea.
amount expended for construction reconstruction and rehabilitation, or for Tho co. appealed to the U. 8. Supremo Court and iu Sept. 1918 Justice
William R Day rendored a docLsion denying tho c o 's petition for an order
permanent exts.. enlargements and adds.; remaining $9 343.000 bonds m o
to prevent tho Citv of Detroit from enforcing its 5-cotit faro ordinance.
only be issued for 80% of expend, for perm ext*., enlargements and addns
under conservative restriction*
Bonds are red. on any Int. dateatlO." V. 107. p. 1192. Compare V. 107, p. 1003. On Sept. 24 1918 tho c o .’s
motion for a dissolution of the injunction restraining it from violating the
and Int. Mtge provides for an annual expenditure, beginning wlob 1920
above ordinance was denied by Judgo Dingoman In tho Circuit Court at
of 20% of gross earnings for malnt.. repair* and renewals fur ext*
Detroit. V. 107, p. 1287. On Jan. 13 1919 tho United States Supreme
and addn«. for which no bonds may be Issued, or for the purchase or retire
Court set aside the decisions of the lower courts and upheld the co. In the
ment of outstanding bonds. V. 102, p. 975. Of the 52.413 000 ref. mtge
bond* of 1901 outstanding. $2,359,000 have been acquired and deposited controversy. The Supremo Court held that tho lower courts erred In not
hearing the case on Its merits. V. 108, p .268 .
,
undsr th» gen. A ref. M .. leaving $54,000 In the hands of the public
On Aug. 27 1918 was auth. by tho L-S. C. Comm, to increaso Inter
Ref M . bond* can be called on any Interest date at 106 and lut. S'nk
fund $10,000 yearly on April 1 from 1906 to 1910, $1.5.000 from 1911 to urban passenger fares by from 25 to 50%. The new rate Is 2 cent* per
mile plus a 5-cent fare In Detroit. All mileage and reduced ticket* will bo
1915 and $25,000 from 1916 to 1920. The Do* Moines .Street RR. 1st M
6s were due $25,000 annually from Oct. 1 1914 to Oct. 1 1913 Incl. and eliminated except school tickets and children's rates. V. 107, p. 905.
5
DES MOINES, IOWA.
.Nov., 1919.]
E L E C T R IC
R A IL W A Y S
39
M AP OF THE
DETROIT UNITED R A IL W A Y S Y S T E M
I N C L U D IN G
NO
DETROIT & PORT HURON SHORE LINE RY.
s V
'88'®
(K A P IB K A IL W A Y SYSTEM )
S A N D W IC H , W IN D S O R & A M H E R S T B C R G I tT .
\ \ C ro sw e
T H E W IN D S O R & T E C U M S E H E L E C T R IC R Y . CO.
D E T R O IT , M O N R O E & T O L E D O S H O R T L I N E R Y .
D E T R O IT , JA C K S O N & CH IC A G O R Y .
D E T R O IT , A L M O N T & N O R T H E R N R . R .
N/
.
.rnado;
^
.Blaine
J v
\ «b
Atkins
Sv-\__0_______Melvin _
wrn Cl
per£
\
Sarnia
PORT!
voca
\
^
S
FnstoriaJ3 \
rt Huron
“ o
\
alt Co.
T
Mt. Salem
\ \
B u rn sc^
/
E m m ett
W ales.
Otter^Cakey
Lamb.
Ottisville
Martin
Berville
A ttica
Carlton vi
Idlewildw'f^
Sammervillen^C
ST. CLAIR C ^;
The OaklamL^jj
^Col.IronjWks^
irysvill©
ig Island
ir Road
Dryden
TRUNK
>enox
H unter Creelt
Flint R iver Jc.
M ctam ora'
F L IN T Y r^ N .
Leprr^rd'
V 4 $ ^ M ntghts
1
Otterburn r /
\
/
Grand Blanc
<p Swartz C reek
J ? / Crape Farm
5 Washington
•Stony Creek
;«O C HESTER
Hamliusu
W. Utica
DulTleld
TRUNK
Fenton
Gaines
•C . '
ENI
S
S im p le Club
Inglesid
m
i , .
fy e ffe r s o n Beach
^\L\Anse C reuse
Davisbui*
Linden
Z \ 0 _L A
Oairview
I
li
pi
p ! L a s e Pt.
N. ftu*ining
.Oak G rore
.M ilford
ARM lNCTOrty M
_ UjA.
Fovvlervflle
\
\WTixonr?^~-^.
New, Hudson y
GV
' J
5
/
R S ®
Ap-WALKERVILLE
WINDSOR
X T - —t>Ma id stone
~r^
>
/ n OBTHVILLC.
X
Howell
C h ils m X
PettysvilleS
H am burg J c j r = *
./H a m
F iu ok u ev p 'V *
fs
W
Dearborn
Inkster
/ \ J - RQue7T ^ ^
•Whitmore Lake
(Gregory
WAYN
\Sheldon y
Den tobs S & y
WYANDOTTE
/
B
/*
K V/
» 2mm
2 5s J5c / $Ji. \ ;■ %'."V-v ■ ",,—&
G ibraluu'i'
Stockbridge
------ C
A :}
\Q
•
Muuitk
Chelsea
Urania
Roots
F redonia 0
Milair
.Francisco
fv y \
■^rGrassM
^ ^ L e o n i^
./?Linchester
Jchigan C enter q
La Salirfj
B rooklyn
Tecuinseh
Woodstocl
Blissfield \
P a lm y r y ^ ^ r ^ X
^
Jerome.
/ & sex
* \ ^ Z /C e n te r
'Riveri
xou ge!
Ecorsl
T O L E D O
*\
\
------» »
40
E L E C T R IC
L,ab0J Board.—V.
107. p. 501, 1977.
Oo Feb. o 1017 authorized amount o f stock was Increaaed from $12,500.,t0 S15.000.000 and the $2,500,000 new itock was offered pro rata to
•tockbolders o f reconi Feb. 18 1917 at par. V. 104. p. 163. 559.
whI1^ « fell
n ' idue
? i lMay
l ssu^51,?;VI00>900
- tr- notos
refund
S3.500.000
notes
which
1918 and to co"
reimburse
thetoco.
for advances
mado
to
rerund underlying bonds and for capital expenditures. V. 106. p. 1126.
noo
—
Date.
Interest. Outstanding.
Maturity.
Stock $15,000,000 ($100) -------------Q-M
$15,000,000 Sept 19 2 %
1
1
*35-<»0. 000 / 1902
4H * J-J 14.555.000 Jm
1 1932
gold ($1,000)-----------c*cpt(Guaranty Trust C o., N. Y .. Trustee. Int
r ,.,, *__ _
..
. , „ ___ I at Agency Bank o f Montreal
no* ? S4.500.000/ 1918
7 g A-O 1 4.500.000 April 1 1923
($1,000) gold------...c * .tflC e n tr a l Tr. C o..N .Y..trustee. Int. In N .Y .
listed on the N .Y .. Montreal Detroit and Cleve. Stock Exchanges.
the S25.000.000 first consolidated mortgage bonds authorized
»7.10o,000 are reserved to retire underlying liens. $50,000 are with trust
company for conversion and $3,290,000 are held In treasury. Callable at
105 and interest on any Interest date on 60 days’ notice. See V. 73, p. 1111 •
V. 103, p. 320. Listed on N. Y. Stock Exchange. The collateral trust
notes are secured by a deposit o f $9,000,000 par value of stocks and bonds
o f constituent companies. No additional Detroit United Ry. 4V4% cons
M
° 'us can be issued except for refunding purposes, nor can the constit
uent companies, whose shares are pledged under these notes. Increase their
DOhde I debt while any of these notes remain outstanding. Notes are red
wh9,e or ln amounts o f not less than $500,000 on 30 days’ notice at
101 and int. to April 1 1922; thereafter at 100M and int. V. 106. p. 1126
D etroit Electric.
„ „„
Date. Interest.
Outstanding.
Maturity
Detroit Ry 1st M . g ($1,000)
1895 5 g J-D
$1,450,000
1919-1924
on 56.34 m iles............c*Ar(Interest at Cleveland Tr. Co.. Trustee.
.First mortgage bonds of the Detroit Ry numbered 1 to 600 raa
tore in order of numbers at $.50,000 per annum, beginning Dec. 1 1912
numbers 601 M d above mature Dec. 1 192-1. $350,000 have been retired
, .
. Detroit Fort W ayne & Belle Isle
1 s i non? g0 d ’ *1-200.22?U » 9 8
5 g A-O
$1,200,000 April 1 1927
$1,000) . . ...................c«Ar(New York Trust C o.. Trustee. Subject to
'■ ? +
Interest at Kean. Tav.or
Detroit
. .
^
° D 60 daT8' nOt,C0’
8c N orthwettern
Rv.
Date.
Interest.Outstanding. Maturity
i i rtV??0 '000,
*855.000 Mav i m il
($100. $1.000)............. c*\Inteirest at Union Trust Co.. Detroit. Trust.
P v * '• ? y Detrolt United Ry. by end. and are sub
Ject to call at 10o and Int. on 60 days' notice. See V . 73. p. 494.
. .
Detroit & P ontiac Ry.
11*% '?•£& **•• *500.°0°. gold ( 1897
5g F A
$500,000 Feb 11922
($1,000) ---------------------- c*{Wa*hlngton Trust C o.. N. Y ., Trustee.
___
.
,.
llnterest at People’s State Bank. Detroit.
lrt*i
*0ld <*L000).( 1901
4V< g J-D
600.000 June I 1926
$J.100.000
------c*A r‘ lnt. at Washington Tr. Co . N. Y .. Trustee
— $500,000 consolidated mtge. 4V<% bonds are reserved to retire
like amount of 1st mtge. bonds. Bonds are subject to call at 105 and Inter
est on 60 days notice after June 1 1911. Principal and interest of both
tasues guaranteed by Detroit UnPed by endorsement.
Detroit & Fll it Railway.
The Detroit * Flint Ry. wa» organized to acquire the Detroit Rochester
Romeo A I^ke Orion, together with the Nor. Det. Elec. Ry. and the Det
Utica A Romeo Ry. The consol. M . is a 1st lien on these last two pron'tlea
„
Date.
Interest. Outstanding.
Maturity
D R R * L O
mtge. (1 9 0 0
5 g J-D
$1,100,000 Jnne 1 1920
sinkingrund. goltl ($1,000).(Int. at Cont. A Comm. Tr. & Sav. Bank.
$1.500.000; unissued bonds j Chicago, Trustee; also Guaranty Trust Co
have been canceled____ c*l New York.
Detroit * £ llnt lrt conso1 M -i 1901
5 g F-A
1.400.000 Aug 11921
g $3,000 000 ($1.000)__e*llnt at T r. Oo. of America. N Y .. Trustee
the consolidated mtge.. $1,100,000 are reserved to retire
bonds of,ike amount of the D. R R. A I^ke O. Ry and $.500,000 have been
canceled. Consolidated bonds are subject to cal! at 100 and Interest
on 60 days notice. Both Issues arc guaranteed by the Detroit United
fornl ° L f uaTaaty ,n v - 78 P 1300: as "additional collateral
security on the Flint bonds 1st consol 4t*% bonds of the Detroit United
are deposited. $ for $. with the Guaranty Trust Co. of New York, and would
be available In the event of default ou the Detroit A Flint bonds.
R E PO R T . — Annual report for 1918 was In Y. 108. p. 677.
Bonds.
Bonds —OT
Detroit United Ry.. Rapid Ry. Sys.. Sandw. Wind. & Amber,tb Ry..
Det. Monroe (k To!. Sh. Line Ry. and Det. lack. & Chic.
_
1918.
1917.
1916.
1915.
Revenue passengers------319,813,176 356,208.429 335,599.802 275,576,409
Transfer passengers------ 103.608,353 119,962,125 119,899,335 98,541,214
Gross earnings...............$19,014,018 $17,427,940 $16,036,669 $13,235,551
Operating expenses------ 14.758,339 13.259,791 11,215,802
9,331,804
Net earns, from oper. $4,255,679
Inc. from other sources.
449,735
$4,168,149
411.737
$4,820,867
351,335
$3,903,747
286,815
Inc. from all sources.. $4,705,414 $4,579,886 $.5,172,202 $4,190,562
Interest and taxes------- $2,610,830
$2,404,355 $2,291,410 $2,229,801
Dividends
-------- -(8 % )1 ,200,000(7 Ji)1118750(6M)843.750(6%)750.000
Deprecla n charged o f f ..
600,000
800,000
800,000
750,000
Reserve for taxes--------150,000
150,000
...........
Total deductions------$4,560,830 $4,473,106 $3,935,160 $3,729,801
Surplus income-----------$144,584
$106,781 $1,237,042
$460,761
D IV ID E N D S.— First dividend of \% on Detroit United stock was paid
March
1
1901
and
1%
quarterly
thereafter
until
Aug.
1
1905.
when
rate
irna raktw tn t W 07. am-,rtai-lw (A.
« io/ir t i /or
r
fv WUV| ,uvli
, flv
_____
awa.v
March, 1917, 1 H % - In June 1917 to and tncl.’ Sept."191972%.
ROAD.— On Dec. 31 1918 operated 915.4624 miles of track, as follows
Detroit United, Including Wyandotte A Detroit River R y.. Detroit A
Northwestern. D etroit* Pontiac. Detroit A Flint, 538.5677mlle«; Detroit A
Port Huron Shore Line. 138.2268 mllce Sandwich Windsor A Amherstburg
R y . 45.3118 nollee; Detroit Monroe k Toledo Short Line. 82.8393 mile*, De
fcrnlt .IfU'trMnn Ar Phlpif h Rv 11H ^1AQ mlUi Poffa 7*7 vt s ..i ni.iw .f
zo2 freight ana cumiracuun care, at one care, iuosxprews ca n , 2 (J mis
cellaneous care. 4 locomotives, 4.551 motors and 3,771 trucks. There are
seven power houses, with a combined capacity of 62.050 h. p ., 2 storage
batteries, with a combined capacity of 4,500 amperes and 19 sub-stations
with a combined capacity o f 21,750 k. w.
a OFFICERS.— Chairman of the Bd.. J . O. Hutchins, Detroit; Pres. &
Gen. Mgr.. F. W. Brooks. Detroit; V.-Ps., E. W. Moore, Cleveland, and
* ’ -U Ferguson. Montreal: V.-P. A Treas., Allen F. Edwards. Detroit; Sec..
A. L . Peters Detroit; Asst. Sec., Miss Emma Heiso. General offices,
Detroit.— V. 107. p. 1287. 200.8. 2097. 2289; V. 10.8, p.
268. 378, 5 /8 . 677, 784, 878, 1060. 1164, 1511, 2433; V. 109, p. 172, 577.
(1) Detroit A Port H uron Shore Line R y.— A trolley road.
Kottre outstanding capital stock is now owned by the Detroit United Ry.
£ ’— ^Incorporated In May 1900. Is a consolidation of
t ie Rapid Railway C o., the Detroit Mt. Clemens i Marine City Ry. (the
P
? f {>h0 Mt: Clemens A Lakeside Traction Co. and
t v Detroit A RivetLS^CIalr R v .). the Port Huron St. Clair A Marine City
R v °«r pv-.? 1! ? * * f !‘ n.t0u K,vw ,,,ank Road Co. and the City
l L F T --S[ P2 2
n<!W comiMmv owns the capital stock ol
each road
Ths eopsoUdated company operates all the tracks In Mt. Clem
I [ ur ? ? • *Pd the through rout* from Detroit to Port Huron
1st mtge. $2.500 000 ($1,000) (1 9 0 0
5 g J-J
2:497.000 jV n T I o S O
cannot be called, gold.c»Ar| Union Trust Co.. Detroit, Trustee.
___
lint, at American Exch. Nat. Bank N T
_
.
_
..
.Bonds.— Remaining $3,000 1st M . bonds are set aside to retire the bond,
of the Port Huron St. Clair A MarineOicf R y. V. 98. p. 1693: V. 99 p 119
R A IL W A Y S
[V ol . 109.
R n M n o _ Port H uron s t - Clair & Marine City Railway.
£LP8—
„
Da,e•
Interest. Outstanding.
Maturity.
' ($600
f i A ^and
^ " $1.0001
* ! * ^ * -300’000
IT19.00 Trust
-n 5 C o.. Detroit,
„
$3,000
Mar 1 1920...
/Union
Trustee,
rr
rSmalP “ * *297-009 bonds have been canceled: $1,000 ln Detroit
United R y. treasury as of Sept. 1 1919.
Detroit & Lake St. Clair Ry. Co.
R nivnu__
i.i
mAMnn/<
tJ, Date.
Interest. Outstanding.
Maturity.
1 f« ?
’ *400-000- *o!d 1900
5 g A-O
$390,000 April I 1920
($1,000)
. . . ...........c * /ln t. at Union Trust C o., Detroit. Trustee.
a- i
w
r
'd*.
guaranteed. principal and Interest, by the Detroit
8ihoTr*.VlnS Rr-. the Rapid Railway Co. and the Detroit Mt.
O ^ e n e * Marine City Rv. They are not subject to call. Of the $390,000
reported outstanding. $100,000 were held by the Det. Unit. Sept. 1 1919.
ROAD.— Total Det. k Port Huron System. 138.2268 miles.
,nclu<l«l la report of Detroit United Ry.— V. 77. p .
« , V. M , p. 338.
(*> Sandwich W indsor St Amherstberg R y.— Trolley.
— Incorporated under special charter from Province.
™ Ontario. Owns entire capital stock ($100,000) of the Windsor A Tecunaleh Electric Ry Entire stock of Sand. Winds. A Amb. Is owned by Det. Un
Negotiations for Sale Off.— V. 109, p. 174.
STOCK AND BONDS— Dale.
Interest. Outstanding.
Maturity.
Stock. $350,000 ($100).........................................
$207,000 ............... ...
Consol Mtge goid. $600,000? 1902
4 Vi g J-D
600,000 Dec 1 1922R"I<1 ($1,000)--------------- c* (National Trust C o.. Ltd , Toronto, Trustee.
w,nd * Tec El. $300,000.1 1907
5 g M-S 2
189.000 Sept 2 192?
gold ($1,000) ( t i p i L .c*/N ational Trust C o.. Ltd.. Toronto. Trustee.
* Amh. bonds are subj. to call after Dec 1 1912 at 105$110 000 of the bonds were In the Detroit United Ry. treasury Sept, 1 1919.
Winflsor * Tecum bond* are guar., p. A !.. by Sami Windsor A Amherstb.
Ry . They are redeemable since 8ept. 2 1917 at 105 and int. on 60 days~
notice. Interest on both mortgages Is payable at company's office.
5.9
A ? •— °Prrates 45.3118 miles of track In and between Windsor, Walkorville. Sandwich and Amherstherg. Including ORv Rv of Windsor (2.52
miles), operated under lease.— V. 75. p. 1303, 1400; V. 109. p. 174.
rP.eLr. ° J 4?.?IV,0* * Toledo Short l ine Ry.
? R
— Incorporated in Michigan on Dec. 11 1902.
In Feb 1906 wntlre woclt wv- acjutrerl hv Det Unit Ry. V 82 p 392.
crwise6p a s s e n g e r ^ a t c s \ o p e r ^ i n l l o S' C° mm- f0r aUth> t0
3tlc\O^ L (MWV000®O.NDS~
DaUIntere3tMalurit^
' V
M
*3.000,000A 1903
*3.000:000 Jan'‘ l ' 1933
gold ($1,000).
...........c*/Unlon Trust C o., Detroit, Trustee.
are no^ iiub?ect*to calk T*b ® ,n NflW York’ No ,lukln«
«nd bond*
? f road frorn Toledo to Detroit and 4 miles of
™ ?
nk
N or. $ t904. At Tolodo conuectlon le made with the Lake Shore Electric Ry. for Cleveland
Is of
yrfih1 n p ^ if°Mt-rUr i 0? ’ ° ? pr!>
v2o,?.rli?ht ° r war: "tandard gauge laid with
70-lb. T rails. Total track, 82.8393 miles. V. 107, p. 82; V. 108, p. 480
(4)
Detroit Jackson A C hicago Ry.
rr 9*'r,>^ V IZA T ' ON
A
co organized In Mich. In 1907 by Detroit
* n Arbor
° n ^ A Det. n™"
th? .9etKYpsl1’
Annk Arl>or
* J a ck
.. the
Jack. Ann
Ry and
the Det. Plym
Northrllle
Rv.R ynavirTo
therefor $1 236 0O0
En'lre *tock owned by Detroit United Rv
*
Fares.— On Mar. 21 1919 Judge Hosmer in the Circuit Court at Dotroit
ordered farts on the c o .’s lines betwoon Dotroit and Jackson roducod to the
pro-war basis of about l k cents per mile. V. 108. p. 1274
Tlio $60 OOttYpsiianti & Saline 1st M . 6s which matured July 1 1919 were retired on
therewith.*60'000 ° f th° C° ’ 8 lst conso1’ mtg0’ 58 poln« issu°d In connection
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock ($100).......................
First consol mtge. $4,000,000
060.000 Feb V i §37
($ 1 ,0 0 0 ), gold................ c* Int. at Security Trust2On.,
Detroit Trustee
1st cons M Det Y A ArAJack
1901 5 g F-A
1.610.000 Fih 1 19%
$2.600,000($500.$ 1,000)gc*
^
L
o
*
A
TraM
Oo
Detroit.
Trustee
Det Yps A Ann Ar ctins 1st M 1899 8 g F-A
330.000 Feb l 1924
$1,000,000. g ($500 A * 1 .- Int. at Union Trust C o.. Detroit. Trustee.
0 0 0 ) sinking fund annually
° Pt YP" A Ann Arhor A Jackson first consols cannot bo coll.vl
Tra‘ sS rro 0nUnSeprt T l ^ l 9° Utetandlngl ^ 6’5° ° ™ r° ln ^ e*D etoU United
of Det Jack. & Chic, are subject to call on anv Interest
la j at 105 and Int, Ouar., p. Si I., by the Detroit United Rya^ enoTnrh
.ends are r « ^ e . l to retire bonded debt of the Det Yp* Vnn A rV r A U c l.
PriiZ , ’ A?" V10 amount reported outstanding, $ 1 ,1 7 4 0 0 0 wore
on Sopt. 1 1919 in tho Detroit United treasury.
* ' H,uuu we
Y i^Vm U)
<V><™ tlou fr,,m Detroit (through Wayne and
4( f f f i
which
------- i
Total track. H0 5168 m llw /
70 and 75-ib. T girder. Does a freight business.— V. 108. p. 1274. Ralls
(•) Detroit Almont & Northern RR.
M °hlea^NI7U
“ teh'o'Sn,
f ^ )r/5i‘ nlZ0d iln,,er ^he Denwa' Railroad Laws o f
m 1915 *° *'“
DM‘
W-
b y ^ e DetdmUrU niS l ^ d “ T iT V ™ * dlrwt oblV tlon'^bv IndorsemcntY.
Ine orVen^a
,n th 0 0vont (>t any new issue of refundildllriM ^ n
tld\ be,I1K
,,n thH Dot. Un. Ry. or Its subSsirn ^ 'n ^ t!ir itv r V
c ent n.ew. wnds for tho retirement of the above
.ty w R,hI’ on arld after Fob 1 1925 at 103 and Int
Re
but not U,)r« c l i l b6 % r a t 0 ° f InU,roHt as f ixod bF th« director? when Issued
^r? rn R^moo, through Almont to Irnlay OItv. ahoub
10 miles, built on private right of wav: 70-lb. rails.— V. 101, p. 130.
D I X O N , ILL
ILLINOIS NORTHERN UTILITIES CO.
A industrial 3 ^ ' „ ^ l d J l 6 Wo8t U tlllU o 3
^hlch see In our "Railway
ORGANIZATION.— Organized under the laws of Illinois Julv 31 I916»
fn io/110!? ? n * 1 on of the Illinois Northern Utilities Co. (lncorpy In April
1912). Tri-County Light A Power Co. (V. 97. p. 660). and the Freeport
Railway A Light Co. (see this Section for May 1916). V. 103 p 496.
?£S r «f*nfi™ ia'lde f
c Pro 1*'rt,l<w ,n the westorn haif or the northert»
XrMnrthlln M
2
territory serve-, by the Public Service ( ’ orp.
of Northern Illinois Also operates street railways In Sterling and Dixon and
an interurban Ine between the two cities, total 1st track. 18.51 miles and
9 miles or track In Froeport. Franchises in Freeport expire March 1 1923
Has traffic arrangement for 50 years with the Rockronl A Interurban Ry
Go . allowlttg cars of that company to enter Freeport.
In March 1918 the 111. P. U. Comm. auth. tho co. to Increase gas ratal
15 cents gross per 1 ,0 0 0 cu. ft.
In July 1918 was auth. by Uio Illinois P. U. Comm, to issuo $150,000lst
bonds and $112,000 7% collateral notos. Up to Scot
1919 $/0.000 of tho bonds had boon Issued.
,
1
p
STOCK AND BONDS— Date.
Interest.
Outstanding.
Maturitu
Common «tock_____________ _____
_______
$ 4 (535 non
First pref stock 6 % cum........................
Q-F
2.’749.'300A*ug."’V o"l> i
Second preferred »to<!k____________
.......
250 000
Flmt and ref M gold...........tf 1912
5 g A-O
4.767',000 A p f T l9 5 7
Underlying Bonds—
De Kalb County Gas______________
5%
199.500
5%
249.500
Sterling Oas A Electric______ ________
Miscellaneous Issues________ ______
_________
83,000
Freeport Ry Lf A P 1st mtgef 1903
5 g M -N
286,000
SeeText
$350,000 g ($1.000).........c*\Cont. A Comm. Tr. A Sav. Bk.. Chic., trus..
Freep Ry A l . t mtge $2.0,K),-( 1910
5 M -N
140,000 Nov I 1934
ooo * •*'OO
v
,000) lin t. atOont. A Comm. Tr. A S. B., Oh .trui
Stock.— In addition to amounts reported outstanding, $365,000 common
and $192,000 first preferred stock are In treasury.
N ov., 1919.]
E L E C T R IC
B o n d s .— T h e l i t & r e f . M . b o n d s o f 1 9 1 2 a r e r e d . a t 1 0 5 .
A d d itio n a l
• m o u n t s m a y b e la m e d ( a ) $ 1 ,2 6 8 ,0 0 0 t o r e f u n d u n d e r l y i n g b o n d s . (6 ) In
e x c h a n g e , p a r fo r p a r , fo r m o r t g a g e d e b t e x is tin g a t t im e o f a c q u is it io n o f
p r o p e r t i e s a c q u i r e d In t h e f u t u r e ; ( e ) f o r e x p e n d i t u r e s m a d e In a c q u i r i n g
fu tu r e p r o p e r ty to e x te n t o f 7 5 % o r c o s t th e r e o f.
V . 94. p . 1383; V . 95.
p . 1123.
I n t . o n F\ R . L . A P . b o n d s la p a y a b l e a t o f f i c e s o f C o n t . Sc C o m m . T r u s t
8c H a v . H a n k , C h i c a g o .
A r e s u b j. t o c a ll b y l o t a t 1 0 5 & I n t .: S 6 4 .0 0 0 h a r e
b e e n r e tir e d .
M a t u r i t y o f b o n d s Is a s f o l l o w s : $ 5 , 0 0 0 d u e M a y 1 i n e a c h o f
t h e y e a r s 1 9 1 0 . 1 9 1 2 a n d 1 9 1 3 a n d $ 5 ,0 0 0 a n n u a lly fr o m 1 9 1 5 t o 1921 l o c i . ,
t h e r e m a i n d e r In 1 9 2 2 .
O f t h e F r e e p . R y . 9c L t . b o n d s , $ 3 5 0 , 0 0 0 a r e
r e s e r v e d fo r p r io r lie n s .
T h e y a r e s u b je c t t o c a ll a t 1 0 2 *4 o n 3 0 d a y s '
n o tic e fr o m 191 5 .
S in k in g f u n d b e g a n in 1 9 1 5 ; m a y b e u s e d f o r l m p t s . , A c .
V . 91, p. 716.
D iv id e n d s .— O n p r e f ., 1 * 4 % q u a r . p a id N o v . 1 9 1 2 t o a n d I n c l. A u g . 1 9 1 9 .
E A R N I N G S . — O f I llin o is N o r t h e r n U tilitie s C o . a n d S t e r lin g , D ix o n A
E a s t e r n E l e c t r i c R y . f o r 5 m o s . e n d i n g D e c . 3 1 1 9 1 6 (s e e r e p o r t In V . 1 0 4 ,
p . 2 2 3 1 ): G r o s s . $ 5 3 6 ,1 5 7 ; n e t . $ 2 2 7 ,6 3 8 : In te r e s t, r e n t a ls . A c . . $ 1 2 3 ,0 5 4 ;
p r e f . d l v s ., $ 4 2 ,2 4 0 ; s u r p lu s , $ 6 3 ,3 4 4 .
N o la t e r s t a t e m e n t p u b lis h e d .
O F F I C E R S — P r e s .. S a m u e l I n s t ill;
V .-P ., E
1)
A le x a n d e r ;
S ec. A
T r o a s ., J o h n H . G u lic k ; A s s t . S e c . A A s s t . T r e a s .. O . E . M c C o r m ic k ; A u d .
L . E . J a c o b s o n .— V . 1 0 4 . p . 2 2 3 1 : V . 1 0 6 , p . 1 0 3 6 . 1 1 3 2 , 1 5 8 2 , 2 7 5 7 .
DOYLISTOWN, PA.
PHILADELPHIA & EASTON ELECTRIC RY. CO.— A trolley road.
Receivership.— On April 5 1912 Judge Ryan In Buoks County Court ap
pointed A. 11. Htckler (Pres, of Oo.) and Godfrey SchmldheUer of Phlla
receivers. V 94, p. 599, 1057.
ORGANIZATION.— Organized In 1907 as successor to the Philadelphia
A Easton Ry. (formerly the Doylestown A Easton Street Ry.). sold at
trustee's sale May 31 1907.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maiuritu
Common. $285,000 ($50)_________
_______
$258,800
Pref, $365,600, 5% nou-cum .____
_______
353,800
lit M, S1.000.060 ($1.000./ 1907
5 g M -8
911.000 Sep’t" 1*1027
Sf00 and $100). gold...c*lin t, at Girard Trait Co., Phlla.. Trustee
SU-ck .— Preferred shares have no voting power.
B on d s. — Notiub. to call and aoutnk.fd. Int.wai4% to Sept.' l l ; now 6 % .
EARNINGS.— For year ending Dec. 31 1918, gross, $129,682; net
$31,549. In 1917, gross, $118,052; net. $32,425.
ROAD.— Operates 32 miles of road between Doylestown and Easton
Operates 8 cars.
OFFICERS.— Pres.. A. H. Stckler, Phlla.; V.-P., Amos Johnson; 8ec
W. 8 . Chambers, Doylestown; Treas., H. G. Rush. Lancaster.— V. 15 n
47B- V. 94. p. 699. 1057._________
_________
v
DU BOIS, PA.
DU BOIS ELECTRIC flt TRACTION CO.— In Nov. 1916 control was
acquired by the Keystone Utilities Co., which see under Scranton. Pa.
ORGANIZATION.— lncorp. In New Jersey on Nov. 18 1901 as the A m rIcan Town Light Co. and name changed later aa above. Owns all of the
etock of the Du Bole Elec. Co. and the Du Bols Trac. Co. V. 76, p. 972.
Franchises for both street railway and electric-lighting are perpetual and
exclusive.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
$292,500 ...........
Stock. $300,000 ($100).........................................
Oollat trust mtge, $300,000/ 1902
5 g M-N
280,500 May 1 1932
($500), gold...........__c*ntfllnt. at Columbia Trust Co., N. Y .. Trustee
Bonds.— No sinking fund, but subject to call at any time at 105 and Int.
EARNINGS.— For years ending Dec. 31:
Calendar Years— Gross. Exp. A Taxes.
Net.
Interest.
Surplus
1918
.................... $163,638
$137,265
$26,373
$14,590
$11,783
1917 ................... 149,945
112.240
37,705
14.025
231680
OFFICERS.— Pros., Daniel J. Dailey; V . - P . , E. T. Hartigan- S e c &
Treas., John Marsman.— V . 89, p. 1667; V. 103, p. 2340.
’
'
DUBUQUE, IO W A.
D U BU Q U E
E L E C T R IC
C O ,
O R G A N I Z A T I O N . — O r g a n iz e d in D e la w a r e J u n e 3 1 9 1 6 a n d a c q u ir e d
th e U n io n E lo c t r ic C o . . o f D u b u q u e , (s e e “ E l o c .R y .” S e c t io n fo r M a y 1 9 1 6 )
D o e s t h e e n t i r e e l e c t r i c l i g h t i n g , p o w e r a n d s t r e e t r a i l w a v b u s i n e s s In D u
b u q u e an d v ic in ity .
O w n s E a s t D u b u q u e E le c . C o ., s e r v in g E a s t D u b u q u e
111
A ls o s e lls p o w e r t o t h e E a s te r n I o w a L ig h t & P o w e r C o . s e r v in g 8
c o m m u n itie s * w it h in s a s y t r a n s m is s io n d is t a n c e o f D u b u q u e .
STO CK AN D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu ritu
C o r n stock $ 2 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) . ______
______________
S 6 K 2 OOO
P r e f 6 % c u m $ 2 . 0 0 0 . 0 0 0 ( $ 1 0 0 ) --------Q -M
8 0 0 .0 0 0
'" s ^ V e x t
1 s t M $ 6 ,0 0 0 ,0 0 0 ( $ 5 0 0 A $ 1 ,-J 1 9 1 6
5 J -D
2 .4 3 3 0 0 0 J u n e 1 1925
0 0 0 ) r e d a t 101 A i n t o n l l n t
a t C h ic a g o
or N ew
Y r k . C e n tra )
6 0 d a y s ' n o t i c e ----------------c p t l
T r u s t C o ., o f I llin o is , T r u s te e
S t o c k . — P r e f . s t o c k Ls c a l l a b l e a t l l O a n d d l v s . a u d h a s e q u a l v o t i n g p o w e r
w ith c o m m o n .
V . 103. p . 410.
B o n d s .— S o c u r o d b y a n a b s o l u t e f i r s t a n d o n l y m o r t g a g e o u a ll t h e c o ’s
p r o p e r t ie s , r ig h ts a n d fr a n c h is e s .
A d d 'l b o n d s m a y b e is s u e d f o r o n ly 8 0 %
o f c o s t o f p e r m a n e n t a d d 'n s a n d lm p t s . a n d t h e n o n ly w h e n n e t e a r n s , f o r
p r e c e d i n g 12 m o n t h s h a v e b e e u a t l e a s t 1 *4 t i m e * t h e i n t . o u b o n d s o u t
s ta n d in g a n d th o s e t o b o is s u e d .
S in k in g f u n d fr o m J u n e 1 1 9 1 7
10% of
ross e a r n s ., e it h e r t o p u r c h a s e b o n d s o r c a ll t h e m a t 101 a n d In t. o r fo r
in j i t s . . A c .
V . 103, p . 410.
D iv id e n d s o n p r e f . s t o c k h a v e b e e n p a id r e g u la r ly f r o m d a t e o f o r g a n l z a t ’n .
E a r n in g s — Y e a r e n d in g —
J u ly 31 1 9 1 9 .
M a r . 31 1 9 18. M a r . 31 1917.
$ 7 0 9 ,5 3 2
$ 6 4 1 ,7 2 5
$ 6 1 4 ,4 0 1
G r o s s ........................................................
N e t , a f t e r t a x e s ..............................
1 9 2 ,3 0 6
2 0 3 ,5 3 0
2 2 4 ,4 6 6
f
P R O P E R T Y . — P o w e r s t a t io n w it h 9 .5 0 0 k . w . g e n e r a t in g
c a p a c it y ;
a b o u t 2 2 0 m i l e s o f t r a n s m i s s i o n a n d d i s t r i b u t i n g l i n e s ; 2 0 .7 m i l e s o f t r a c k
In c i t v a n d s u b u r b s , s u b s t a n t i a l l y a l l 7 0 - l b . r a i l ; 9 0 c a r s .
O F F I C E R S .— P r e s .. I . C . E ls t o n . J r .. C h ic a g o : V . - P . . H . B . M a y n a r d
D u b u q u e . l a . ; G e n . M g r .. O . I I . S im o n d s .— V . 1 0 3 . p . 4 1 0 .
DULUTH,
M IN N .
D U L U T H -S U P E R IO R
T R A C T I O N .— T r o lle y .
O R G A N I Z A T I O N . — I n c o r p o r a t e d i n C o n n e c t i c u t In 1 8 9 7 .
O w n s e n tir e
s t o c k o f th e D u lu t h S tr e e t R y . . th e L a k e s id e S t r e e t R y a n d t h e S u p e r io r
R a p id T r a n s it .
T h e c o r p o r a t e e x i s t e n c e o f t h e D u l u t h S t r e e t R y . Is m a i n
t a l u e d , b u t a ll o f Its s t o c k * $ 2 ,0 0 0 ,0 0 0 a u t h o r i z e d , 1 1 . 8 0 0 . 0 0 0 o u t s t a n d i n g )
Is h e l d b y t h e D u l u t h - S u p e r i o r T r a c t i o n .
T h is la tte r c o m p a n y h a s n o
bon ded d eb t.
T h e D u lu th S t r e e t R y . w a s o r g a n is e d u n d e r A c t o f M in n e
s o ta a p p r o v o d N o v . 17 1881 a n d p o s s e s s e s “ a n e x c lu s iv e f r a n c h is e " w h ic h
r u n s u n til 1 9 3 1 .
S e e d e c i s i o n w i t h r e g a r d t o f r a n c h i s e e In S u p e r i o r
In V . 8 0 . p . 1 9 1 1 .
O n D e c . 1 8 1 9 1 8 t h e c o m p a n y s u r r e n d e r e d Its f r a n c h is e
t o o p e r a t e in S u p e r i o r ; t h e s y s t e m n o w b e i n g o p e r a t e d o n t h o i n d e t e r m i n a t e
p e r m it b a s is u n d e r w h ic h t h e S t a t e , I n s te a d o f c it y o f f ic i a ls , h a s ju r is d ic t io n
o v e r th e c o m p a n y .
V . 107, p . 2476.
O n S e p t . 1 1 9 1 7 th e D u lu th 8 t. R y .
a c q u ir e d t h e 3 H - m il e lin e o f t h e P a r k P o in t T r a c . C o . o f D u lu t h , M in n .
V.
105, p . 180.
T h e D u lu t h -S u p e r io r B r id g e b o t w e e n D u lu t h . M in n ., a u d S u -
R A IL W A Y S
41
Bonds.— The mtge. of 1900 covers all the mileage of the Duluth Street Ry.
the property of the Lakeside St. Ry. and of the Superior Rapid Transit
haring first been conveyed to the Duluth St. Rv. The gen. mtge. bonds are
subj. to call on any int. day at 105 and Int. $272,000 are held In treasury and
$169,000 have been canceled. Remaining Bonds may be Issued for addi
tions, extensions, Ac., under conservative restrictions. They are guar.,
p. A 1., by Duluth-Superior Trac. Co. Sinking fund of 2*4% per annum of
bonds out began May 1913. Exempt from personal tax in Minnesota.
V. 90, p. 1296; V. 91. p. 276: V. 92, p. 186; V. 104, p. 1044.
Dividends.—On the pref. stock 4% p. a. ls being paid. On com., 1st dlv.
— 1%— Oct. 1909. Same amount quar. to and Incl. July 1910; In Oct.
1910. 114%. Same amount quar. to and Incl. April 1913. In July 1913
reduoed to 1% (V. 96. p. 1772); same amount quar. to and Incl. Jan. 1915.
April dlv. omitted (V. 100. p. 900); payment* changed to semi-annual
b i.sis and a dlv. of 1% paid July 1915 (V. 100, p. 1437) None to Oct. 1
1917, when 1% was paid. Same rate quarterly to and incl. Oct. 1 1918.
None since.
REPORT.— For calendar years (1917 report In V. 106. p. 1681):
Calendar Gross
Net (.after Int. A Pref.Dies. Common
Balance.
Years. Earnings. Deprec.)
Taxes.
(4% ).
Dividends.
Sur.orD ef.
1918___$1,686,485 $392,803 $273,746 $60,000 (3%)$105.000 def.$45,943
1 9 1 7 ... 1,644,387 582,116 296,319 60,000 (2%) 70,000 sur.155,797
In 1918 carried 33,088,747 revenue passengers and 5,782,778 transfer
passengers, against 32,196,521 revenue and 5,239,439 transfer passengers
In 1917.
ROAD.— The system embraces about 104.01 miles of track and Includes
all the lines In Duluth and Superior. 153 passenger and 22 other cars.
OFFICERS.—Chairman of the Board, A. E. Ames; Pres., A. M . Robert
son; V.-P., Edmund Zacher; V.-P. A Gen. Mgr., Herbert Warren; 8ec. A
Treas., S. L. Reichert.— V. 106, p. 1688; V. 107. p. 2476; V. 108. p. 1060.
E AST LIVE R PO O L, O H IO .
STEUBENVILLE EAST LIVERPOOL & BEAVER VALLEY TRAC
TION CO.
ORGANIZATION.— lncorp. In Ohio and Penna. on Nov. 1 1917 as a
merger of the East Liverpool Trac. A Lt. Co., the Steubenville A East
Liverpool Ry. A Lt. Co. and the Ohio River Passenger Ry. For history
of merged companies see this Section for January 1918.
Fare Increase.— In Jan. 1919 tho I.-S. C. Comm. auth. a single-trip fare
of 10 cents and a commutation fare of 14 rides for $1 between East Liver
pool, O., and Chester. W . Va., and dismissed a complaint against these
rates. V. 108, p. 481.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Common. $2,000,000 ($100).................................... $2,000,000 ......................
Pref 5% cum $2,600,000 ($1 0 0)...............- .............. 2.600.000 ................. ..
First mtge $3,000,000, gold/ 1917
5 g M -N
1.600.000 Nov 1 1947
($1.000)________________c\Int. at Comm'l Trust Co., Phlla., Trustee.
----------100.000 ---------------6 months notes_____________ 1919
Bonds.— Redeemable at 105 and Int. after Nov. 1 1922. $117,000 of
tho bonds reported outstanding are pledged to secure $100,000 six months'
notes. V. 109. p. 1180.
ROAD.— Owns and operates 100.69 miles of track between Vanport, Pa.,
and Steubenville, O., and in Steubenville. East Liverpool and Weilsvllle,
O., and Chester, W. Va. Also operates In Intervening towns, and operates
a through line between Steubenville and Beaver. Pa. 80 cars.
OFFICERS.— Pres., C. A. Smith. Chester, W. Va.; Gen. Mgr.. R. J.
McElravy. Chester. W. Va.; Sec. A Treas., Geo. H. Faulk. East Liverpool.
— V. 108, p. 481; V, 109, p. 1186.
E A S T O N , PA.
NORTHAMPTON TRACTION CO.
ORGANIZATION.— lncorp. In Penn. Oct. 3 1902 as a consolidation of
(be Easton A Nazareth Ry. and Easton Tatamy A Bangor Street Ry.
Own* practically all the stock ($1,250,000) of the Northampton Easton A
Washington Trac. Co. (see that company below). Franchises perpetual.
In the latter part of 1915 absorbed the Bangor & Portland Ry. operating
8*4 miles between the points named, and issued $137,000 additional ref. A
cons, bond* to erfect the merger. V. 102. p. 345.
Rates.— In Sept. 1918 Increased local fares from 6 cents to
cents.
Advances were also made in freight rates. V. 107. p. 1004.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock, $500,000 ($50)....................
.............
$500,000 __________
First mortgage $400,000
\ 1903
$ g J-J
349.500 Jan 1 1933
gold_________________ c*tf/Int. at Northampton Tr. Oo.(Easton). Trus.
5%
437.000 Jao 1 1942
Ref & cons mtge____________ 1912
Bonds.— A sink, fund of 10% of net earns. Is nowoper. on Northampton
Trac. 1st M. bonds, but bonds cannot be called.
EARNINGS.—Combined earnings of Northampton Trac. Co. and
Northampton-East. & Wash. Trac. for years ending Dec. 31:
Cal. Year—■
Gross.
Net.aft.Tax. Charges.
Surplus.
1918___________ _______ ____ $226,883
$72,579
$26,950
$45,629
93,012
44.300
48,712
1917_______ ________________ 216,215
ROAD.— Operates 33 ?4 mi lea of track from Easton to Tatamy. Nazareth.
Bangor and Portland, chiefly on private right-of-way. Standard gauge.
65 . 70 and 80-lb. steel rail.
OFFICERS.— Pres.. David King; Treas.. Wm. L. Doyle; Gen. Mgr..
W . O. Hay.— V. 92. p. 726: V. 94. p. 1384; V. 102. p. 345.
(1) Northampton-Easton & Washington Traction Co.
ORGANIZATION.— lncorp. In 1910 In New Jersey and la controlled
by the Northampton'Trac. Co. (see above).
Fare Increase.— On Mar. 11 1918 the Board of P. U. Comm. auth. the co.
to increase its fares from 5 to 6 cents, and in Dec. 1918 a further increase
to 7 cents was authorized. V. 106, p. 1127: V. 107, p. 2188.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturitu.
Stock $1,250,000 ($100).........................................
$1,250,000 ____
1st M
(cl *od)
g ($100./ 1910
5%
539.000 May 1950
$500. $ 1.0 0 0)------■ f c*tf(Bankers Trust Co., Nsw York, Trustee.
Refund A consol mortgage/ 1912
5%
200.000 Jan. 1 1942
$ 1 .0 0 0 .0 0 0 ..----------------- (Easton Trust Co., Trustee.
Bonds.— Northamp.-East. A Wash. Trac. bond* are callable, in whole or
bi part, from May 1 1915 until 1925 at 110; thereafter uutll 1935 at
107*4; thereafter until maturity at 105 and Int. Mtge. la closed. Sink,
fund 1% annually of arge. amount of all bonds out from 1915 to 1925: 1 *4 %
to 1940 and 2% thereafter. Bonda are unconditionally guar., p. A !..
by Northampton Trac. Co. (V. 92. p. 726). Int. payable in N. Y. City.
There are deposited to secure the Northamp.-East. A Wash 1st M. 5s
the following bonds of the Northampton Traction Co.: $44,000 1st M ..
$100,000 2d M. (entire Issue) and $81,500 gen. M. (entire Issue).
ROAD.— 17 miles of track from Phillipsburg. N. J.. to Washington N .J .
— V. 105. p. 1802; V. 102, p. 1127; V. 107, p. 604, 2188.
E A S T ST. LO U IS, ILL.
THE EAST ST. LOUIS & SUBURBAN CO.
REORGANIZATION. AO.— As per plan In “ Chronicle" of Dec 20
1913. p 1822. this company was Incorporated Jan. 7 1914 In Delawaro to
succeed the vld East St. I^ouls A Suburban Co. of N J.In Oct 1914 auth
capital of the latter waa reduced from $14,000,000 to $1,000,000, consisting
of $60,000 pref etock and $940,000 com. stock. See V 100 p 474
*
Own* all the outstanding capital stocks (with the exception' of directors
erlor, Wls., 1* used by the railway but Is a separate corporation, anu *h»res) and bonds as stated of the following companies. The amount*
as Issued 1st Mtge. bonds for $650,000 and 2d Mtgo. bonds for $300,000 pledged with the 8t. Louie Union Trust Co. as collateral for the East St
Louts A Suburban Oo. coll, trust bonds are also shown.
— see bridge Items. V. 63, p. 3 10. 504.
F r a n c h i s e D e c i s i o n . — On May 23 1914 Judge Cant In th« 8tate District
—------ —Stock------------------------- Bonds------------Owned.
Pledged.
Owned
Pledaed
Court handed down a decision favorahle to the company In the suit brought
by the city of Duluth to cancel the franchise granted to the Duluth Street East St. L. A Sub. Ry. O o ..$3,850,000 $3,824,300 * 4 .000.000 $ 3 ,834,000
Ry. on Nov. 17 1881 (V. 98. p. 1694).and this decision was affirmed by the ft I 8i ' ?
yirV0D--r,-1-806.600 1.889,000 1.799.000
Minnesota Suprems Court on Jan. 29 1915. V. 100, p. 473.
5 i8 S iLEl.
ri.W»
R&
600'000 499.600 760 000
600.000
600.000
St. L. A Bellev.
Ry.
C0o0..*
750 0A0
F a r e s . — On Jan. 11918 reduced fares on Morgan Park line from 10c. to 5c.
1.100.000 733.660
76U'000
760.000
On Sept. 16 1918 the Duluth Stroet Ry. applied to the Duluth City Council East St. L.Lt. A Power C o ..
Alton
Gran.
A
8f
L.
Tr.
Oo.
3.189.000
...............
27*4'n00
...............
for an increase In street car fares. V. 107, p. 1192. Up to Sept. 1 1919
do
10-year notes____
______ ______
inn 000
no hearing on this matter had boon held.
Alton Gaa A Electric Co____
699.000 ...............
’
...............
D e c i s i o n . — On June 12 1916 the Wise. RR. Comm, rescinded Its order
do
10-year notes.......................................I "
90,666 I I I I I II I
of Nov. 1912 requiring the Duluth St. Ry. to establish a rate of 6 tickets
Three companies own and operate all electric railway lines In East St.
for 25c. on Its Superior lines. In addition to the 6-cont cash fare In force.
Ujuto and Alton and Interurban lines to Belleville. Edwardsvllle. OollineS T O C K A N l) B O N D S —
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Yllie, CaservlU®, O Fallon, Maryville, Lebanon. Brooklyn. Venice, Mad!Common, $3,500,000 ($100).............
Q-J
$3,500,000 Oct. 18. 1% •on.
Granite City and Alton, and the only electric line across the Eads
Pref 4% cum,$l,600,000($100) - - - r
0 c t - 19- 1 \
Bridge, connecting East St. Louis with St. Louis. Oars are operated over
Duluth St Rv M. $2.600.000.( 1900 6 g MAN
2,500.000 May 1 1930
this
bridge
under a 50-year exclusive contract expiring In 1952- Through
gold ($1.000).............. c* tf lin t, at Cent. Trust C o., N. Y ., Trustee
arrangement with Illinois Traction Co. the Interurban cars from Alton are
Dul St Ry gen M $2,500,000./ 1910
6 M-N
1.272.000 May 1 1930
Into their terminal In St. Louis. Alao do entire electric lighting and
gold ($1,000) sk fd_.c*cpt\lnt. at Central Tr. C o.. N. Y .. Trustee. run
power business In East 8t. Louis and the electric, gas and steam heating
S to c k . — Both com. and pre^ are listed on N . Y . Stock Exch. V. 90. p. 84$.
business In Alton. A large coal business ls also carried on.
E
E L E C T R IC
42
F r a n c h i s e s In E a s t S t . T . o n i s . E d w a r d s v i l l e . C o l l i n s v i l l e a n d B e l l e v i l l e
e x p i r e in 1 9 4 7 , 1 9 4 8 a n d 1 9 5 2 ; L e b a n o n a n d O ’ F a l l o n In 1 9 2 2 .
T h e A lto n
r a i l w a y , e l e c t r i c l i g h t a n d p o w e r f r a n c h i s e s e x p i r e in 1 9 4 8 ; t h e A l t o n g a s
a n d s t e a m -h e a t in g fr a n c h is e s a r e p e r p e t u a l; G r a n it e C it y a n d ^ Ia d is o n
fr a n c h is e s e x p ir e in 1 9 2 5 ; V e n ic e in 1 9 2 0 ; B r o o k l y n in 1 9 2 1 .
T h e in t e r u r b a n
l i n e t o A l t o n , o u t s i d e o f c i t y l i m i t s , is n e a r l y a l l o n p r i v a t e r i g h t o f w a y .
C o u n t y fr a n c h is e s c o v e r i n g r e m a in in g s u b u r b a n lin e s e x p ir e fr o m 1 9 2 0 t o
1948.
E le c t r i c li g h t a n d p o w e r fr a n c h is e in E a s t S t . L o u is e x p ir e s 2 0 0 7 .
W a g e A w a rd , b y W a r L a b o r B o a r d .— V . 1 0 7 , p . 6 9 5 ; V . 1 0 9 , p . 6 7 6 , 8 8 7 .
F a r e s .— In D e c . 19 1 7 t h e A lt o n G r a n it e & S t . L o u is T r a c . C o . a p p lie d to
t h e I .- S . C . C o m m , f o r p e r m is s io n t o in c r e a s e it s r o u n d t r ip fa r e f r o m A lt e a
t o S t. L o u is fr o m 9 0 c . t o $ 1 .
In J u n e 1918 th e A . G . & S t. L . T r a c . C o .
w a s a u t h . t o I n c r e a s e fa r e s f r o m 5 t o 7 c e n t s o n it s lin o s in G r a n it e C i t y a n a
A lto n .
V . 106, p . 2561.
A 7 -c e n t fa r e w a s in a u g u r a te d o n th e c o n n e c t in g
lin e b e t w e e n th e s e t w o p o in t s o n A u g . 9 1 9 1 8 .
V . 107, p . 695.
In S e p t.
191 8 th e A . G . C . ft S t. L . T r a c . C o . w a s a u th . t o ch a rg e 254 ce n ts p er
m ile p lu s M is s o u r i R iv e r b r id g e fa r e s .
T h e c o . ’s a p p lic a t io n h a d c a lle d
fo r 3 c e n t s p e r m ile .
V . 1 0 7 , p . 1 1 9 2 . E ffe c t iv e N o v . 10 1 9 1 8 , w as a u th .
b y t h e 111. P . S . C o m m , t o c h a r g e 3 c e n t s p e r m i l e o n I n t e r u r b a n l i n e s .
V . 107, p . 1837.
„
I n J u n e 1 9 1 8 t h e E a s t S t . L . & S u b . R y . a p p l i e d t o t h e 111. P . U . C o m m ,
f o r a u t h . t o c h a r g e a 7 -c e n t fa r e w it h a 1 -c e n t c h a r g e f o r tr a n s fe r s a n d t e
r a is e fa r e s b e t w e e n S t . L o u is a n d E a s t S t . L o u is f r o m 10 t o 12 c e n t s .
In
S e p t . 1 9 1 8 t h e l . - S . C . C o m m . a u t h . t h e c o . t o in c r e a s e f ir e s r o m 10 c a n ts
t o 11 c e n t s b e t w e e n S t . L o u i s a n d E a s t S t . L o u i s , I I I . , a n d n e a j b y p o i n t s l a
I l l i n o i s . V . 1 0 7 , p . 1 1 9 2 . I n J u l y 1 9 1 8 w a s a u t h . b y t h e 111. I . U . C o m m
t o c h a r g e 2 c e n t s p e r m il e f o r t ic k e t fa r e s a n d 3 c e n t s p e r m ile f o r c a s h fa r e *
V . 1 0 7 , p . 4 0 1 . A u t h . t o c h a r g e a 6 - c e n t f a r e In E a s t S t . L o u i s w a s g r a n t e d
b y t h e C o m m ., e f f e c t i v e A u g . 10 1 9 1 8 , p e n d in g a n o t h e r h e a r in g o n th e
7 -c e n t fa r e . V . 1 0 7 . p . 6 9 5 .
I n M a y 1 9 1 8 t n e E a s t S t . L o u i s R y . a p p l i e d t o t h e 111. P . U . C o m m , f o r
a u t h . t o Is s u e S 2 1 0 .3 0 0 a d d i t io n a l s t o c k a n d $ 1 4 8 ,0 0 0 1 s t c o n s . M . b o n d s .
D e fa u lt.— In A u g . 1 9 1 8 h o ld e r s o f t h e A . G . ft S t. L . T r a c . C o . 1st c o n s o l,
m t g e . b o n d s d u e A u g . 1 1 9 4 4 w e r e n o t ifie d t h a t t h e c o . w a s u n a b le t o m e e t
t h e A u g . 1 1 9 1 8 in t . d u e t h e r e o n b e c a u s e o f in c r e a s e d o p e r a t in g c o s t s a n d
w e r e u r g e d t o w it h h o ld a c t io n u n t il t h e e f f e c t s o f fa r e in c r e a s e s r e c e n t ly
g ra n ted are k n o w n . V . 107, p . 6 0 3 , 6 9 5 .
F in a n c in g .— O n D e c . 2 8 1 9 1 8 t h e h o ld e r s o f t h e $ 2 ,0 9 4 ,0 0 0 5 -y r . 6 %
c o n v . b o n d s , d u e J a n . 1 1 9 1 9 , w e r e o ffe r e d t h e p r iv ile g e o f e x c h a n g in g th e ir
h o ld in g s o f s a id is s u e f o r n e w 7 % c o n v . b o n d s , d a t e d J a n . 1 1 9 1 9 a n d d u e
J a n . 1 1 9 2 1 . s i m i l a r in o t h e r r e s p e c t s t o t h e 5 - y r . 6 s , a t a c a s h d i s c o u n t o f
7 % . V . 1 0 8 , p . 7 7 . U n d e r d a t e o f M a r . 21 1 9 1 9 w e w e r e i n f o r m e d t h a t a
la r g e p e r c e n t a g e h a d b e e n s o e x c h a n g e d a n d w e h a v e t h e r e fo r e e lim in a t e d
t h e o l d is s u e f r o m t h e f o l l o w i n g t a b le .
I n S e p t . 1 9 1 9 a p p l i e d t o t h e 111. P . U . C o m m , f o r a u t h . t o r e i s s u e n o t e s t o
p a y o f f p a r t o f t h e c o ’s . o r ig in a l d e b t in t h e a m o u n t o f $ 4 0 0 ,0 0 0 . V . 1 0 9 ,
p . 981.
O u tsta n d in g .
M a tu rity
STO CK A N D BO N D S—
Date. Interest.
6 .# 0 8 .0 6 0
- .....................
O o a i r a o i . $ 1 0 , 0 0 0 , 8 0 0 ( $ 1 0 0 ) .......................................... S ee tex t
_______________
F i r s t p r o f , 6 % c u m _____________ ________
___________
* ,0 0 0 ,0 0 0 F e b ’ 1 8 .5 * %
P r e f e r r e d $ 8 , 8 0 0 , 0 0 0 ( $ 1 0 0 ) 1 .......................................
5 % c u m ___________________ — I
2 ,0 9 4 ,0 0 0
J a n 1 1921
C on vert
bonds
$ 3 ,0 0 0 ,0 0 0 / 1 9 1 9
7 J -J
( $ 1 0 0 . $ 5 0 0 Sc $ 1 , 0 0 0 ) . c * t f \ P e n n a . C o . f o r I n s . o n L . f t O r . A n n . . P h i l a . . t r .
C o lU tlM & i t r u « t u i o r i g a g * $ 0 . j 1 0 8 2
6 * A O
8 .8 1 )# .9 0 8 A p r il 1 1 9 3 2
0 0 0 .8 0 0 g o ld ( $ 1 .0 0 0 ) . c * t f ( I n t e r e s t a t S t . L o u is U s l o a T r C o . T r u s t e e .
1
o r a t E . W . C la r k ft C o . P h ila d e lp h ia .
E S t L ft S u b R y im p t d e b s l 1 9 1 *
6 J -D
5 5 .8 0 0
See te x t
$ 1 1 1 . 0 0 0 ( $ 1 . 0 0 0 ) _____ c * . t f J I n t . a t o f f i c e o f c o m p a n y l a E a s t S t L o u i s .
A G f t S t L o u i s T r a c C o 1 s t '1 9 8 4
5 g F -A
2 .5 0 0 .0 0 0 A u g 1 1944
c o n s o l M . $ 3 ,0 0 0 ,0 0 0 g o ld T at a t I llin o is S t a t e T r < • . E a st S t L «u la
.................. ........... e * t f l
T r n e te o , o r a t N a tio n a l C it y B a n k . N
Y
($ 1 0 0 0 ;
A lt o n R y ft I liu m r ir s t m t g e l
1895
5 g A -O
2 5 0 .6 0 0 O c t . 1 1933
$ 2 5 0 , 0 6 0 ft ( $ 1 . 0 0 0 ) . - e U f l I n t . a t B a n k e r s T r . C e . , N . Y . t r u s t e e
A lt o n K y G a s ft K le c t r lo C e f
1899
S r A O
2 5 6 .8 6 6 O c t . 1 1 9 8 9
m tg e
$ 5 0 # .0 0 0
( $ 1 .0 8 0 ) i lu t . a t E q u ita b le T r . C o .. N . Y . , tru s te e .
g o ld (c lo s e d )
________ c * n t f |
N o s la k in g fu n d ; b o n d * c a n n o t he c a lle d .
E a s t S t L L t ft P o w 1st M f 1 9 1 6
6 S J D
1 .0 9 2 ,0 0 0 J u n * 1 194 0
g , g u a r p ft 1 ($ 1 ,6 0 0 ) c * t f ( I n t . a t M e r c a n t ile T r . C o .. S i. L e n U T r u s t e e ,
l
C h a s e N a t . B k ., N . Y . , a n d a t c o .’a o ffic e .
S to c k .— T h e S % c u m . p r e f . m a y b e e x c h a n g e d a t a n y t in ts f o r 6 0 % o f
6 % cu m . p ref and 6 0 % co m . stock .
T h e * % p re f. ta k e s p r e c e d e n c e b o th
a s t o d iv id e n d s a n d a s se ts o v e r t b s 6 % p r e f a n d th o c o m m o n s t o c k
V.
9 7 . p . 1822; V . 98 , p. 304, 155.
R e m a in in g $ 4 ,0 0 0 ,0 0 0 c o m m o n s t o c k re
s e r v e d fo r c o n v e r s io n o f 5 % p r e f. s t o c k a n d c o n v e r t ib le b o n d s .
B o n d s .— C o l l , t r u s t b o n d s a r e r e d e e m a b le o n a n y I n t. d a y a t 1 6 6 a n d
In t. o n 4 w e e k ’s n o t ic e .
See V . 76, p . 382.
T h e c o n v . 7 s a re c o n v e r t ib le
in to a n eq u a l a m o u n t o f 6 %
c u m . p r e f . s t o c k a n d In a d d i t i o n 3 3 1 - 3 %
In c o m m o n s t o c k .
T h e E a s t S t. L o u is & 8 u b . R y . I m p r o v e m e n t d e b e n
t u r e s m a t u r e 8 1 0 ,0 0 0 e a c h J u n e a n d D e c . t o D e c . 1 9 2 1 .
$ 1 0 5 ,0 0 0 h a v e
b e e n is s u e d , o f w h ic h $ 5 0 ,0 0 0 h a v e b e e n r e t ir e d .
$ 5 0 0 ,0 0 0 o f t h e A lt o n
G r a n it e & S t . L o u is T r a c t io n f ir s t c o n s o ls a r e r e s e r v e d f o r p r io r lie n s .
T h e y a r e a ls o a lie n o n p r o p e r t y o f A lt o n G a s & E le c t r ic C o . , w h ic h w a s
o w n e d b y th e A lt o n G r a n it e & S t. L o u is T r a c t io n C o ., w h e n th e m t g e .
w as m ade.
$ 5 6 6 ,0 0 0 o f t h e b o n d s h a v e b e e n a s s u m e d b y t h e A lt o n G a s
& E le c tr ic C o .
N o s in k in g fu n d s , b u t b o n d s a r e s u b je c t t o c a ll o n a n y
I n t . d a t a a t 1 1 0 a n d l u t . u p o n 91) d a y * n o t l c u .
T h a A lt o n R y . f t I liu m . 1st
M .
6s o r ig in a lly m a tu r e d O c t . 1 1 9 1 6 , b u t w e re e x te n d e d to O c t o b e r I
1939.
E a s t S t . L o u is L ig h t ft P o w e r b o n d s a re g u a r a n t e e d , p r in c i
p a l a n d I n t e r e s t b y e n d . , b.v E a s t S t . L o u i s f t S u b . C o . ; c a l l a b l e a t 1 8 6 a n d
I n t. o n a n y in t. d a t e o n 3 0 d a y s ’ n o t ic e .
A u t h . is s u e u n li m it e d , b u t a d d i
t io n a l b o n d * a r e I s s u a b le o n l y f o r 8 0 % o f t h e c o s t o f a d d n s a n d im p ’ t s , a n d
t h e n o n l y w h e n n e t e a r n in g s a r e a t le a s t 1 4 t im e s in t . c h a r g e o n b o n d s
o u t a s w e ll a s t h o s e t o b e is s u e d .
D i v i d e n d s .— 6 % p e r a n n u m w a s p a i d q u a r t e r l y o n o ld p r e f . f r o m Its I s s u e
M a y 1 1 9 0 * u p t o a n d In c lu d in g F e b . 1 9 1 4 .
O n n ew p r e f. 1st d lv .— 1 W % —
w a s p a id M a y 1 9 1 4 ; A u g
1 54 % ; N o v . , 1 5 4 % .
I n 1 9 1 6 . F e b . . _1 \ i % : in
M a y r a t e w a s r e d u c e d t o X % ( V . 1 0 0 , p . 1 4 3 7 ) ;; s a m e r a t e q u a r t e r l y t o a n d
ln c l. F e b . 1 9 1 8 .
N o n e s in c e .
E A R N I N G S o f o p e r a t in g c o m p a n ie s fo r 12 m o n t h * e n d in g J u n e 3 0 :
Y ea r—
G ross.
N e t,a f t.T a x . I n t .. & c .
P r e f.D iv s .
S u r p lu s .
1 9 1 8 - 1 9 ......................$ 4 , 3 7 0 , 0 9 5
$ 8 7 1 ,0 3 3
*827 019
* 1 4 ,0 1 4
1 9 1 7 - 1 8 ..................... 3 , 8 6 3 , 9 1 8
1 ,0 5 3 ,0 1 8
8 0 1 ,6 1 8
-------------2 5 1 ,4 0 0
R O A D .
& c .— O p e r a t e s 1 9 0 m ile * o f s in g l e -t r a c k ,
o f w h ic h 4 m ile s
o p e r a t e d u n d e r le a s e .
H a s 1 8 2 p a s s e n g e r c a r s . 4 e x p r e s s c a r s 8 2 9 fr* U h *
c a r s . 21 w o r k c a r s a n d 3 s n o w s w e e o e r s . 2 e le c t r c a n d 2 < t « « lo c o m o t iv e s .
P a s s e n g e r s c a r r ie d in 1 9 1 8 , r e v e n u e , 4 0 ,3 9 8 ,8 4 7 ; t r a n s fe r a n d o t h e r s , 7 ,
8 3 1 ,8 0 5 ; in 1 9 1 7 , r e v e n u e , 4 0 ,8 1 8 ,3 1 9 : tr a n s fe r a n d o t h e r s
8 .2 3 6 ,2 9 5 .
H a s 2 p o w e r s t a t i o n s w it h 1 5 ,6 0 0 k .w . c a p a c i t y . H a s 9 5 m ile * o f h ig h - t e n s i o n
t r a n s m i s s i o n lin e**.
A N o h a s c o n t r a c t s f o r p o w e r w it h M is s is s ip p i K iv e r
f o w e r C o . a n d U n io n E le c . L ig h t & P o w e r C o .
F F I C E R S .— I V e s ., C . M . C la r k ;
c k : T r e a s .. T
W . G re g o ry : A sst.
m a n a g e m e n t o f E . W . C la r k & C o .
695. 1003. 1192, 1837; V . 108, p . 77,
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la t h e la t t e r p a r t o f 1 9 1 2 p u r c h a s e d t h e E r ie T r a c t i o n C o . a n d t h e M e a d v l l l e ft C a m b r i d g e S p r i n g * S t r e e t R y .
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c o m m it t e e , G . W . Y o r k , o f O tis & C o . , C le v e la n d , C h a ir m a n .
STO CK A N D BON DS—
D a te .
In ter es t.
U u ts ta iu tin g .
M a tu rity .
C o m m o n $ 1 . 0 0 0 . 0 0 0 ( $ 5 0 ) ............... ........................................... $ 1 , 0 0 0 , 0 0 0
...............................
P r e f $ 5 0 0 , 0 0 0 ( $ 5 0 ) 5 % n o n - c ..................................................
5 0 0 .0 0 0
......................
F ir s t
m orrgage
$ 1 ,2 5 0 ,0 0 0 /
1911 5 g M - 8
6 5 0 ,0 0 0 M c h 1 1941
g o ld
( $ 1 0 0 0 ) .....................c * t f l T u t. a t C e n t r a l T r u s t C o . . N
Y ., tru ste e .
P e o p le s In c a n d e a c e n t L ig h t,
1900
5%
1 5 0 .0 0 0 D e c
1 1920
C o 1 st m t g e ............... .............. t f D e l a . C o . T r . S a f e D e p . f t T i t l e I u * . C o . . t r u s .
1st M ( E r ie D l v ) S 1 .5 0 0 .0 0 0 t f
1912 5 J -D
2 5 0 .0 0 0 S e p t 1 1 9 1 7
2 d M (E r ie D l v ) $ 3 0 5 ,0 0 0
tf
1912 S ee tex t
3 0 5 ,0 0 0 S e p t 1 19 4 7
E r l* T r a c (E r ie D lv ) $ 5 0 0 ,0 0 0 /
1 9 0 7 5 g J -J
5 0 0 .0 0 0 J u ly 1 1 9 2 9
g o l d ______
________ _
c ' t f l l n t a t S e c u r S a v . ft T r . C o . . E r ie , T r u s t e e .
C o l l a t t r u s t n o t e s S 1 6 5 .O 0 O f
1913 6 M -S
1 6 5 ,0 0 0 M a r 1 1 9 1 9
($ 1 0 0 $ 5 0 0 . $ 1 ,0 0 0 )
. c t f i In t. a t th e S e c . S a v . ft T r G o
E r ie . T r u s .
E q u i p m e n t n o t e s $ 6 0 0 0 0 ____J
1917 6
F -A
4 0 ,0 0 0
S ee te x t
1 2 r le T r u s t C o ., E r ie , tr u s te e .
Nov., 1919.]
E L E C T R IC
Bonds.— O f t h e f i r s t m o r t g a g e o f 1 9 1 1 , $ 1 5 0 , 0 0 0 a r e r e s e r v e d t o r e t i r e
p r io r lie n s , r e m a in in g b o n d s a r e f o r im p r o v e m e n t s , e x t e n s io n s a n d a c q u is i
tio n s u n d e r c e r ta in r e s tr ic tio n s .
T a x - e x e m p t in P e n n s y l v a n i a .
S u b je c t
t o c a ll o n a n y In te re st d a t e a t 1 0 5 a n d in t e r e s t .
A n n u a l s in k in g fu n d
o f 1% o f bon d s ou t began N o v . 1 1914.
B o n d * r e tir e d t o b e k e p t a liv e
V . 92, p. 1033. 1436
O f t h e $ 1 .5 0 0 .0 0 0 1st M . E r ie D i v . b o n d s . $ 5 0 0 ,0 0 0
a r e r e s e r v e d t o r e t i r e t h e E r i e T r a c . b o n d s a n d $ 5 5 0 , 0 0 0 T or e x t e n s i o n s a n d
b e t t e r m e n t * a n d $ 2 0 0 ,0 0 0 a r e in t r e a s u r y .
Sink fund, 1 % a n n u a l l y c o m
m e n c e d A p r il 1 9 1 7 .
I n t . a t E r ie T r u s t C o . , E r ie , t r u s t e e .
T h e 2d M
b o n d s b e a r 2 % In t. th e fir s t y e a r , a d v a n c in g 1 % y e a r ly t o 5 % . I n t . J .- D . a t
C o lo n ia l T r u s t C o ., P itts b u r g h , tr u s te e .
T h e E r ie T r a c t io n b o n d s h a v e a
sinking fund of $ 2 0 f o r e v e r y $ 1 , 0 0 0 f i r s t m t g e . b o n d , w h i c h b e g a n J u l y 1
1 9 1 7 ( d e u o m . $ 1 ,0 0 0 , $ 5 ,0 0 0 a n d $ 1 0 ,0 0 0 ) .
T h e c o lla t e r a l tru st n o te s a re
s e c u r e d b y d e p o s it o f $ 2 0 0 ,0 0 0 p u r c h a s e -m o n e y m o r t g a g e b o n d s .
They
o r ig in a lly m a tu r e d o n M a r c h 1 1 9 1 8 , b u t w e re e x te n d e d fo r o n e y e a r .
See
a b o v e u n d e r “ S a le o f C o l l a t e r a l . ”
T h e e q u ip m e n t n o t e s m a t u r e $ 1 0 ,0 0 0
y e a rly A u g . 1 1918 to 1923.
R O A D . — O p e r a t e s 1 0 . 3 m i l e s o f t r a c k In M e a d v i l l e , 1 5 . 7 m i l e s b e t w e e n
M e a d v llle a n a L ln e s v ille , in c lu d in g a 2 -m ile e x te n s io n t o C o n n e a u t I jt k e
a n d 4 0 .2 m ile s b e t w e e n M e a d v il le a n d E r ie .
S i d i n g s , 3 .1 m i l e s .
T ota l
t r a c k , 6 9 .4 m ile s .
G a u g e . 4 f t . 8 4 4 In .
7 0 a n d 8 5 - l b . g i r d e r a n d T r a il
4 6 c a r s (p a s s e n g e r 2 8 , fr e ig h t a n d e x p r e s s , 9 , w o r k 2 , 1 s n o w -p lo w , 2 sn ow s w e e p e rs ).
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Calendar
G ross
N et
Dies. Interest. A c , Surplus or
Year—
Earnings. Earnings.
1918
....................................... $ 3 5 8 , 5 2 1
1 9 1 7 ____________
3 2 8 ,5 0 9
2 9 6 ,5 6 4
1 9 1 6 ..................................
$ 4 3 ,9 5 9
3 9 .4 9 8
8 4 .3 2 4
Rec'd.
Taxes,
$ 1 3 1 ,0 1 6
1 0 .1 7 1
1 2 6 .7 9 3
4 9 ,7 7 7
1 1 7 ,4 7 8
Deficit.
d e f.$ 8 7 .0 5 7
d e f . 7 7 .1 2 4
s u r . 1 6 .6 2 3
O F F I C E R S .— P r e s ., F . F . C u r t z e ; V .- P . & G e n . M g r . . C h a r le s M .
H a t c h ; S e c .. A . O . C h a p in ; T r e a s ., A . A . C u lb e r t s o n .
G e n e ra l o ffic e
E r ie , P a .— V . 9 8 . p . 7 4 , 2 3 7 , 124 6 : V . 1 0 5 , p . 4 9 9 .
E SC A N A B A , M IC H .
ESCANAH A
T R A C T IO N
C O .
,
O R G A N I Z A T I O N . — R e o r g a n i z a t i o n in A u g . 1 9 0 9 o r E s c a n a b a E l e c t r i c
S t. R y . and E scan aba P ow er C o .
C o n t r o ls th e E s c a n a b a P u lp & P a p e r
C o.
D o e s e l e c t r i c li g h t a n d p o w e r b u s in e s s in E s c a n a b a . G l a d s t o n e a n d
W e lls . M ic h .
Is a llo w e d t o c a r r y fr e ig h t .
STOt’ K AND PONDS—
Date.
Interest.
Outstanding.
Maturity
C o m m o n s t o c k $ 2 0 0 . 0 0 0 ----------- ---------------------------------$ 2 0 0 ,0 0 0
_______________
P r e f s t o c k $ 5 0 0 . 0 0 0 _____________ ___________________- ..............
5 0 0 ,0 0 0
_______________
1st A ref u ttg t $ 6 0 0 ,0 0 0 g o l d )
1 9 0 9 ------------- 5 J - J
5 4 0 .0 0 0
S e e te x t
( $ 1 ,0 0 0 )
..
..
c * c n t l i n t , a t F ir s t S a v . & T r u s t C o . M il w a u k e e .
S econ d m tg e
$ 2 0 0 ,0 0 0 g o l d / 1 9 0 9
5 g A -O
2 0 0 .0 0 0 J a n . 1 1934
( $ 1 0 0 & S I .0 0 0 ) c * A r . c p t { M l c h i g a n T r u s t C o . . G r a n d R a p i d s , T r u s t e e .
R e d . a t 1 0 3 a n d I n t e r e s t . _ l i n t , a t F ir s t T r u s t C o . , M i l w a u k e e .
Bonds.— 1 s t & r e f . b o n d s m a t u r e $ 1 0 , 0 0 0 a n n u a l l y f r o m 1 9 1 4 t o 1 9 3 3 ,
f n c ! . . r e m a i n d e r in 1 9 3 4 .
$ 6 0 ,0 0 0 h a v e b e e n r e t ir e d .
T h e y a r e s u b je c t t o
c a ll a t 103 a n d In t o n a n y in t. d a t e .
M ic h ig a n T r u s t C o . , G r a n d R a p id s
ru stee.
V . 92, p . 1564; V . 103. p . 4 0 6 .
E A R N I N G S .— F o r yea rs
G ross.
Y ear—
1 9 1 8 ................ ............ S i 7 4 . 4 2 1
1 9 1 7 ................... _____ 1 8 3 . 2 5 1
1 9 1 6 .................. _____ 1 4 2 . 1 4 1
♦ E a r n in g s f r o m E s c a n a b a
R O
u rban
la n t
.4 0 0
S
A D .— O w n s a n d
ro a d t o G la d s to n
c a p a c i t y . 7 .9 0 0
a d d itio n a l h .p .,
e n d in g D e c . 3 1 :
N e t.
• O th . I n c .
$ 5 6 ,5 1 8
$ 1 0 ,0 0 0
9 8 ,6 3 1
5 .0 0 0
7 7 .0 2 3
1 8 .6 1 4
P u lp & P a p e r C o .
In ter es t.
$ 3 6 ,5 8 9
3 8 ,0 9 7
3 8 .8 5 7
S u r p lu s .
$ 2 9 ,9 2 9
6 5 .5 3 4
5 6 ,7 7 9
o p e r a t e s s t r e e t r a i l w a y In E s c a n a b a a n d a n I n t e r
e , w h i c h w a s p l a c e d in o p e r a t i o n in J u l y 1 9 1 0 . P o w e r
h .p .
A new d a m o n E s c a n a b a R iv e r , p r o v id in g
w a s c o m p le te d J a n . 1 1 9 1 6 .
O F F I C E R S — P r e s ., J R . S ta c k V .- P .. J . O . K ir k p a t r ic k ; S e c . * G e n .
M g r ., P . L . U t l e y ; T r e a s ., M . N . S m it h , a ll o f E s c a n a b a .— V . 1 0 3 , p . 5 7 g .
EUREKA, CAL.
H U M R O I .D T T R A N S I T C O .
O R G A N I Z A T I O N — I n c n r p o r a t e d In C a l i f o r n i a J u l y 3 1 1 9 0 3 .
F a r e I n c r e a s e .— In S e p t . 1 9 1 8 w a s a u t h . b y t h e N e v . R R . C o m m
In cre a se fa r e s t o 6 c e n ts .
V . 107, p . 1287.
to
STOCK A N D BON DS—
D a te .
In ter es t.
O u tsta n d in g .
Maturity
S t o c k * 1 . 0 0 0 . ( 0 © ( $ 1 0 0 ) .................................................. ...
$500 000
l i t m t g e $ 1 . 0 0 0 .()(M ( $ 1 , 0 0 0 ) )
_ J I A -O
1 7 2 > 0 0 O ct 1 1934
g o l d --------------- ----------c A r . n t l ( U n i o n T r u s t C o . o f S a n F r a n
T ru * t* w
B on d * a r e n o t « u b j . t o c a ll
A *k f d . o f 2 % o f b o n d * o u t b ^ g a n O c t
1010.
I n a d d i t io n t o a m o u n t r e p o r t e d o u t s t a n d i n g . $ 4 8 ,0 0 0 o f b o n d s a r e p le d g e d
a s c o lla t e r a l fo r a $ 2 0 ,0 0 0 n o t e t o t h e F ir s t N a t i o n a l B a n k o f E u r e k a a n d a
$ 4 ,0 0 0 n o t e t o VVm . B u t t e r w o r t h .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
C a l. Y e a r —
G ross.
N e t ( a fte r T a x es) . D e d u c tio n s .
D e fic it
1 9 1 8 ................- ............................ $ 8 9 , 2 8 5
d »f$ 4 9 5
$ 1 4 ,2 6 1
$ 1 4 ,7 5 7
1 9 1 7 ................................................ 8 1 , 6 4 3
1 3 .4 8 1
1 5 ,9 1 2
2 ,4 3 1
1 9 1 6 . - - - ..................... .............. 7 8 , 1 8 1
3 ,8 7 0
1 4 ,5 1 3
1 0 .6 4 3
R ° £ £ v ™ C ° m PFIse s 1 2 m il e s o f t r a c k In c i t y o f E u r e k a . 1 5 - 6 0 - l b . T r a il s .
O F F I C E R S .— P r e s ., W m . B u t t e r w o r t h : V . - P . . L lo y d B a ld w in ; S e c . a n d
T r e a s ., H o r a c e R . H u d s o n ; M g r ., J . W . H a le .— V . 1 0 7 , p . 1 2 8 7 .
E V A N SV IL L E ,
IND.
E V A N S V I L L E & O H I O V A L L E Y R A I L W A Y C O . —I n c o r p . in I n d i a n a
In D e c . 1 9 1 8 a n d a c q u i r e d o n F e b . 2 0 1 9 1 9 t h e p r o p e r t i e s o f t h e E v a n s v i l l e
R a i l w a y s C o . (T o r h i s t o r y s e e t h i s p u b l i c a t i o n f o r S e p t . 1 9 1 8 ) . i n a c c o r d a n c e
w i t h t h e p l a n o f r e o r g a n i z a t i o n s e t f o r t h in d e t a i l i n V . 1 0 7 , p . 2 2 8 9 ; w i t h
t h e e x c e p t io n t h a t t h e p la n a s r e v is e d b y t h e I n d . P . S . C o m m , p r o v id e d
f o r th o is s u a n c e o f o n l y $ 3 0 0 ,0 0 0 c o m . s t o c k a n d $ 2 0 0 ,0 0 0 p r e f . s t o c k , in
s t e a d o f $ 1 ,0 0 0 ,0 0 0 c o m . a n d $ 5 0 0 ,0 0 0 p r e f. a s o r ig in a ll y p la n n e d .
The
c o . h a s a c q u ir e d th e s t o c k s o f t h o H e n d e r s o n T r a c t io n C o . a n d th e O w e n b o r o C i t y R R . C o . , b o t h o f w h ic h h a d b e e n o w n e d b y t h e E v a n s v ille R y s .
C o - . a n d h a s a ls o a c q u ir e d in f e e t h e E v a n s v i l l e H e n d e r s o n & O w e n s b o r o
R y . C o . , w h ic h o p e r a t e s a lin e b e t w e e n E v a n s v ille , I n d ., a n d H e n d e r s o n ,
jr y jre I n c r e a s e . — I n S e p t . 1 9 1 8 w a s a u t h . b y t h e I . - S . C . C o m m , t o I n
c r e a s e fa r e s b e tw e e n E v a n s v i lle , I n d ., a n d H e n d e r s o n , K y . , a n d in t e r m e
d ia te p o in t s n o t e x c e e d in g 1 0 % .
V . 107. p . 1192.
O n A p r il 5 19 1 9 t h e c o . . w it h t h e a u t h . o f t h e I n d . P . S . C o m m ., file d
t w o d e e d s o f t r u s t : ( 1 ) f o r $ 7 5 0 ,0 0 0 is s u e d t o s e c u r e a g e n . m t g e . o n 3 0 - y e a r
ln c o m o b o n d s ; t r u s t e e . M e r c a n t ile T r u s t & S a v . B a n k , a n d (2 ) f o r $ 1 ,2 0 0 ,
0 0 0 , s e c u r i n g a n is s u e o f 3 0 - y e a r 5 % 1 s t A R e f . M t g e . g o l d b o n d s , A m e r i c a n
T ru st & S a v . B a n k , tru stee. V . 1 0 8 . p . 1610.
S T O C K A N D B O N D S .—
D a le.
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ..................................................... ■
$ 3 0 0 ,0 0 0
6%
p r e f . $ 5 0 0 , 0 0 0 n - c u m ( $ 1 0 0 ) ...................
2 0 0 .0 0 0
1 s t M $ 2 0 0 , 0 0 0 s k f d g o l d -------- / 1 9 1 9
6 J -J
_________________
„1 1 9 4 9
S
ee tex t Jan
\ C o n t. & C o m m . T r . & S . B k ., C h ic ., tru s te e .
1 st & R e f $ 1 ,2 0 0 ,0 0 0 c a lla b le /
1 9 1 9 5 J -J
7 5 0 .0 0 0 J a n 1 1 9 4 9
a t l 0 2 H o n a n y I n t , d a t e - . 1A m . T r . A S a v . B k . , E v a n s v i l l e , t r u s t e e
G en eral M tg e In com e b o n d s/
1919 seo te x t
7 5 0 ,0 0 0 J a n 1 1 9 4 9
$ 7 5 0 , 0 0 0 ..........................................r l M e r c a n t i l e C o m m ’ l B k . , E v a n s v . , t r u s t e e .
C o lla t t r u s t n o t e s $ 3 0 0 ,0 0 0 /
1918 6 J -D
5 2 ,9 0 0 D e c 1 1 9 2 9
c a l l a b l e a t p a r ________________ ( M e r c a n t l l e - C o m m ’ l B a n k , E v a n s v . , t r u s t e e .
B o n d s .— N o n e o f t h e 1 s t M t g e . b o n d s h a v e b e e n is s u e d .
S in k , fu n d o f
$ 2 , 5 0 0 p e r a n n u m s t a r t s In 1 9 2 9 a n d c o n t i n u e s f o r 1 0 y e a r s , a n d t h e r e a f t e r
t h e s k . f d . r e t ir e s $ 5 ,0 0 0 p e r a n n u m .
C a lla b le a t 1 0 3 d u r in g th e 1 st 10
y e a r s ; 1 0 2 d u r in g th e 2 d 10 y e a r s , a n d 101 d u r in g th e 3 d 10 y e a r s .
S h o u ld
n o 1 st M t g e . b o n d s b e is s u e d , th e n t h e s in k in g fu n d p r o v id e d f o r th e ir
r e t ir e m e n t w ill b e a p p lie d t o t h e 1 s t A R e f . b o n d s .
T h e g e n . m t g e . in c o m e
b o n d s d r a w in t . a t n o t t o e x c e e d 5 % p e r a n n u m a n d o n ly w h e n e a r n e d .
I n t . n o t c u m u la tiv e .
N o t e s . — In addition to the amount reported outstanding, $97,100 have
been issued and are held in the treasury.
E A R N I N G S .— O f E v a n s v ille R a ilw a y s C o . f o r c a l. y e a r 1 9 1 8 ( n o t tn c l.
H e n d . T r a c . a n d O w e n s b o r o C i t y R R ) , g r o s s , $ 3 3 0 ,7 4 3 ; n e t . a ft e r t a x e s .
$ 6 7 , 9 5 5 ; In 1 9 1 7 . g r o s s . $ 2 9 1 , 2 1 2 ; n e t , a r t e r t a x e s , $ 8 0 , 3 7 8 .
R O A D .— O p e r a te s b e tw e e n M t . V e r n o n , E v a n s v ille , H e n d e r s o n , R ic h
la n d a n d G r a n d v ie w .
O p e r a t e s 7 0 .6 8 m ile s o f t r a c k , o f w h ic h 5 6 m ile s
a r e o w n e d in fe e , 7 .2 2 m ile s a r e le a s e d , 7 .4 6 m ile s t r a c k a g e r ig h t s .
H as
4 .3 2 m ile s o f s id in g s ; t o t a l m ile a g e 7 5 m ile s .
7 0 -lb . T -r a il.
G a u g e 4 ft.
g u In ch es.
_
„
O F F I C E R S .— C h a ir m a n . A . F . I la r g e s ; P r e s ., W . H . M c C u r d y V .-P
W
A . K o c h ; V .- P . A G e n . M g r .. W . A . C a r s o n ; S e c . A T r e a s ., C . H . B a t-
R A IL W A Y S
43
(1 ) H e n d e r s o n T r a c t i o n . — S tr e e t r a ilw a y .
A c q u i r e d b y E v a n s v i lle R y s . ( s u c c e e d e d in 1 9 1 9 b y E v a n s v i l l e A
V a l l e y R y . C o . ) in A p r i l 1 9 1 3 .
V . 96, p . 1488.
O h l©
O R G A N I Z A T I O N .— I n c o r p . In K e n t u c k y F e b . 2 2 1 9 0 7 a s a s u c c e s s o
to th e H e n d e r s o n C it y R y ., s o ld a t fo r e c lo s u r e o n F e b . 18 1 9 0 7 .
F r u n c h is
o r ig in a lly e x t e n d e d t o 1 9 3 6 .
In 1 9 1 8 , h o w e v e r , a n e w 2 0 -y e a r fr a n c h is e
w a s g r a n t e d t h e c o . w h ic h p r o v id e s f o r a 7 -c e n t c a s h fa r e o r 4 t ic k e t s f o r
25 cen ts.
STO C K A N D BO N D S—
D a te .
In terest.
O u ts ta n d in g
M a tu r ity .
S t o c k . $ 1 5 0 , 0 0 0 ( $ 1 0 0 ) __________ ________
______________
$ 1 4 9 ,8 0 0
................... _ _
F ir s t
m ortg a g e,
$ 1 5 0 ,0 0 0 / 1 9 0 7
5 g A -O
1 0 5 ,0 0 0 A p r . 15 1 9 2 7
( $ 1 ,0 0 0 . $ 5 0 0 . $ 1 0 0 ) g o l d t » In t a t O h io B k g . A T r u s t C o . , H e n < le r * o n .T r
B o n d s . - $ 1 3 3 , 0 0 0 b o n d * I s s u e d b u t $ 2 8 , 0 0 0 h e l d In t r e a s u r y .
R e m a in in g
$ 1 7 ,0 0 0 a r e r e s e r v e d f o r e x t e n s io n * a n d I m p r o v e m e n t s .
S u b je c t t o c a ll o n
A p r il 15
192 2 at 1 0 5
N o s ln k in e fu n d
E A R N I N G S . — F o r c a l. y e a r 1 9 1 8 , g r o s s , $ 3 9 ,7 3 5 ; n e t , $ 9 ,0 1 4 ; in 1 9 1 7 .
g r o s s , $ 3 4 ,0 9 8 ; n e t , $ 1 0 ,0 9 9 .
R O A D .— O p e r a te s 6 m ile s o f s t r e e t r a ilw a y .
V . 90, p . 1363.
(2 ) O w e n s b o r o C it y R a il r o a d .— S tr e e t r a ilw a y .
A c q u ir e d b y E v a n s v i lle R y s . (s u c c e e d e d in 1 9 1 9 b y E v a n s v i lle &
V a lle y R y . C o . ) in A p r il 1 9 1 3 .
V . 96, p . 1488.
O h ie
O R G A N I Z A T I O N . — C h a r t e r e d In 1 8 8 6 .
F r a n c h is e r u n s t ill 1 9 3 6 a n d
g rire * e x r l u M iv p r i r h t * t o o p e r a t e « t r * e t r n f l w a v In 4&fri c i t y
. A r r a n g e m e n t s w e r e m a d e in N o v . 1 9 1 7 t h r o u g h w h i c h t h e h o l d e r s o f t h e
$ 2 0 0 ,0 0 0 6 % G e n . M t g e . b o n d s w il l f o r e g o t h e ir in t e r e s t f o r t h e n e x t t h r e e
y e a r s , t h e $ 3 6 ,0 0 0 s o s a v e d t o b e u s e d in i m p r o v i n g t h e s y s t e m .
STO CK A N D BO N D S—
D a te .
In ter es t.
O u ts ta n d in g
M a tu rity .
C o m m o n . $ 7 5 , 0 0 0 ( p a r $ 5 0 ) .................................... - ..............
$ 7 5 ,0 0 0 f .i > ......................
1st
m t g e ..
$ 2 0 0 ,0 0 0 ,
g o ld ] 1902
5 g J -J
2 0 0 ,0 0 0 fa n
1 1932
( $ 1 ,0 0 0 ). c A r , n o t r e d . . t f /I n t e r e s t a t L o u is v ille T r u s t C o .
T ru stee.
G e n e r a l m o r t g a g e . $ 2 0 0 . O O O tfj 1 9 1 0
6 M N
2 0 0 .0 0 0 M a v 1 1 9 3 3
„ . „
\ A m e r T r . A S a v . C o .. E v a n s v .. I n d .. T r u s t e e
E A R N I N G S . — F o r c a l. y e a r 1 9 1 8 , g r o s s , $ 8 2 ,3 7 8 ; n e t , $ 1 7 ,0 6 2 : in 1 9 1 7 .
g r o s s . $ 7 4 ,1 3 9 ; n e t . $ 2 5 ,0 3 2 .
*
R O A D . — o w n s 12 ■, m i l e s o f s t r e e t r a i l w a y In O w e n s b o r o a n d s u b u r b s ;
Mi a n d 7 0 - l b . r a i l ; 3 0 m o t o r c a r s , d o u b l e W e s t . , 6 8 G . E . 8 0 0 ; 7 t r a i l e r s ,
25 10 to n a n d 5 2 5 -to n c o a l c a r s .
P ow er b ou se 6 0 0 k . w . c a p a c ity .
V . 90:
________
p . 1364: V . 105. p . 2273.
E V A N S V IL L E S U B U R B A N & N E W B U R G H R Y .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in I n d i a n a In D e c . 1 8 8 8 . w i t h a p e r
p e tu a l c h a r te r .
P a s s , b u s in e s s h a u le d b y e le c t r i c it y a n d fr e ig h t b y s t e a m .
D o e s a c a r - l o t fr e ig h t a n d e x p r e s s b u s in e s s .
H a s p r iv a t e r ig h t -o f-w a y .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k . $ 5 0 0 , 0 0 0 ( 5 1 0 0 ) ....................................................................
$ 3 0 7 ,4 0 0
..
V
1st m o r t g a g e . $ 5 0 0 ,0 0 0 . g o l d f 1 9 0 4
5 g J -J
4 7 7 .5 0 0 J u ly 1 1934
( $ 5 0 0 a n d * 1 , 0 0 0 ) _____ c * t f ( I n t e r e s t a t E v a n s v i l l e T r u s t A S a v . O o .
I
T ru stee, o r N a t B an k o f C om m erce, V Y .
B o n d s .— A s in k in g fu n d o f $ 2 ,5 0 0 p e r a n n u m c o m m e n c e d J u ly l 1 9 1 0
w h ic h w ill r e t ir e b o n d * a t 1 0 5 .
A ll o r a n y
p a rt o f b o n d s r e d e e m a b le
a fte r i 5 y e a r* a t 105
$ 2 2 ,5 0 0 h a v e b e e n r e r ir e l
V 96 p
1365.
E A R N I N G S .— F o r y e a r 1 9 1 8 , g r o s s , $ 2 4 0 ,2 1 7 : n e t , a ft e r t a x e s , $ 5 6 ,2 4 8 .
I n 1 9 1 7 , g r o s s , $ 1 9 4 ,2 9 0 ; n e t , a ft e r t a x e s , $ 6 5 ,2 6 5 .
R O A D . — O p e r a t e * Af> m i l e s o f t r a c k f r o m E v a u e v i l l e t o N e w b u r g h , w i t h
1 b r a n c h o f f t h e m a in lin e t h r o u g h S t e v e n s S t a t io n a n d C h a n d le r t o B o o n r t lje - h » * a t « o 5 m ile s o f a i d e - t r a c k : t o t a l . 3 0 m ile *
7 0 -lb T r a il s
O F F I C E R S .— P r e s . & G e n . M g r ., G u s M u h u lh a u s e n ; V .- P . A T r e a s ..
C h a s . W . C o o k ; S e c ., J a s . E . C o x .— V . 8 3 , p . 2 7 1 ; V . 9 6 , p . 1 3 6 5 .
F A IR M O N T ,
W. VA.
MONONOAHELA VALLEY TRACTION CO.
O R G A N I Z A T I O N — O r g a n i z e d In W . V a . o n M a y 1 8 1 9 1 2 .
Is a c o n
s o lid a tio n o f F a ir m o n t A C la r k s b u r g T r a c . C o . . F a ir m o n t A N o r t h e r n
T r a c . C o . a n d C la r k s b u r g & W e s t o n E le c . R y .
O n D e c . 1 1 9 1 5 a c q u ir e d
th e F a ir m o n t G a s C o .
V . 101, p . 1465.
O n A p r il 1 1 9 1 7 a b s o r b e d b y
m e r g e r th e F a ir m o n t & M a n n in g t o n T r a c . C o . , fo r m e r ly c o n t r o lle d , t h a t
c o . s $ 6 0 0 ,0 0 0 5 % p r e f . m o r t g a g e b o n d s d a t e d J a n . 1 1 9 0 6 (a ll o w n e d b y
M o n o n g a h e la C o .) b e in g c a n c e le d .
O n J u n e 3 0 1 9 1 7 a c q u ir e d c o n t r o l o f
th e K a n a w h a , T r a c . A E le c . C o . (n o w k n o w n a s th e P a r k e r s b u r g -M a r ie t t a
D iv is io n ) w h ic h s e e u n d e r
P a r k e r s b u r g . W . V a . . ” t h r o u g h o w n e r s h ip o f
a p p r o x im a t e ly 9 6 % o f it s s t o c k . V . 1 0 5 , p . 2 9 0 . T h e c o . h a s s in c e a c q u i r e d
a ll t h e o u t s t a n d i n g c e m m o n a n d p r e f . s t o c k o f t h a t c o . O w n s a ll t h e s t o c k o f
r , a l r ™ ° ^ R y : I , r o d , , c t s . O o f P - i ‘ " c o r p . In W . V a . i n M a y 1 9 1 8 t o b u i l d a
$ 5 ,5 0 0 ,0 0 0 c o k e o v e n p la n t a n d a n I n d u s tr ia l c i t y t o c o s t $ 7 5 0 ,0 0 0 .
V 106
p. 2450.
O w n s a n d o p e r a t e s a s y s t e m o f e l e c t r i c r a il w a y s In W . V a . a n d O h i o
e x c e e d in g 1 8 0 m ile s o f t r a c k : a ls o e le c t r i c li g h t in g a n d g a s p la n t s a n d c o a l
m in in g
p r o p e r tie s .
F r a n c h is e s
In
F a ir m o n t
are
p e r p e tu a l.
In
oth er
c it ie s a n d t o w n * e x t e n d f o r 5 0 y e a r s , t h e s h o r t e s t e x p ir in g in 1 9 5 2 .
In ter
u r b a n lin e * o n p r iv a t e r ig h t o f w a y .
F r a n c h is e s o v e r c o u n t y r o a d s a n d
b r id g e s in M a r l o n a n d H a r r is o n c o u n t i e s a r e p e r p e t u a l .
R a te I n c r e a s e .— E f f e c t i v e A p r il 1 1 9 1 8 , w a s a u t h . b y t h e W . V a . P . 8 .
C o m m , t o in c r e a s e r a t e s o n t h e in t e r u r b a n lin e s o f t h e F a ir m o n t - C i a r k s b u r g
D iv is io n a n a v e r a g e o f 2 0 % .
I n S e p t . 1 9 1 8 is s u e d $ 5 ,5 0 0 ,0 0 0 5 -y e a r 7 % g e n . m t g e . b o n d s t o r e t ir e
$ 2 ,8 2 9 ,0 0 0 1 -y e a r n o t e s d u e F e b . 1 1 9 1 9 (c a lle d f o r p a y m e n t o n O c t . 7
I n J u n e 1 9 1 9 a n is s u e o f $ 2 ,0 0 0 ,0 0 0 1 -y e a r 6 % n o t e s w a s b r o u g h t o u t
p r o c e e d s b e in g a p p lie d t o c o m p le t io n o f p a y m e n t s o n p o w e r p la n t . im D ts *
a d d i t i o n s . A c . V . 1 0 8 . p . 2330.2629.
pts”
v
’
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 2 , 0 0 0 , 0 0 0 ( $ 2 5 ) ......................
Q -J
$8,279,637 O c t
P r e f . 6 % c u m . $ 4 , 0 0 0 . 0 0 0 ( 1 2 5 ) ______
6 y -J
3,358.602 July'19,1
F lr s i k r e f M . $ 1 5 , 0 0 0 , 0 0 0 . g l 1 9 1 2
5 J -D
4 .2 .0 ,1 ) 1 1 0 J u u e 1 1 9 4 2
( $ 5 0 0 A $ 1 ,0 0 0 >
c * A r * t r f F id e lit y T r C o . . B a il
T ru *
Tnt In N
V
G e n m t g e $ 1 5 ,0 0 0 ,0 0 0 ($ 1 0 0 , \ 1 9 1 8 7 g J -J
5 5 0 0 0 0 0 J u l r 1 1Q9 3
$ 5 0 0 a n d $ 1 .0 0 0 ) g c t f f /C e n t r a l U n io n T r u s t C o o f N
Y
T n i S
O n e -y e a r
n o te s
S 3 .0 0 0 .0 0 0 1
1 9 1 9 6 g Q -S
2.0 0 0 .0 0 0 J u n e 1 1 0 9 0
„ ( $ 1 ,0 0 0 a n d $ 5 ,0 0 0 ) g - . c / F i d e l i t y T r u s t C o . . B a l t i m o r e M d
T r i S
F a lr m A D la r k a b l* i M , $ 2 . (
1 »0 3 5 a A -O
A 5 0 0 QOU T > c t ' l i r a
5 0 0 ,0 0 0 g i $ 1 .0 0 0 ) - - C * n t f f I n t a t G u a r a n t y T ru s t" C o
N
Y
T ru stee
,
P r e f . s t o c k 1* c o n v e r t i b l e I n t o c o m m o n s t o c k , s h a r e f o r s h a r e . I n
J u n e 1 9 1 7 t h e a u t h . c a p it a l * t o c k w m in c r e a s e d f r o m * 9 5 0 0 0 0 0 c o m
and
M 0 0 0 .0 0 0 p r e f. t o I l i W o o O
c o r n , a n d $ 4 .0 0 0 .0 0 0
't h ^ p a r v a l u e
•>f t h e s h a r e * w a s c h a n g e d f r o m $ 1 0 0 t o $ 2 5 e a c h , a n d 6 % p r e f . s t o c k w a s
le s i i e d i n p l a c e o f t h e 5 % s t o c k , t h e p r e f e r r e d s h a r e h o l d e r s b e i n g g i v e n t h e
r ig h t t o c o n v e r t t h e ir s t o c k i n t o 6 % s t o c k o n t h e b a * l* o f 3 9 - 2 5 V h a £ s o f
6 % s t o c k (p a r $ 2 5 ) f o r e a c h s h a r e o f 5 % s t o c k (p a r $ 1 0 0 ).
V . 105. p . 290.
A p p lic a t io n h a s b e e n m a d e t o lis t b o t h t h e c o m . a n d p r e f. s t o c k s o n t h o
w . Y . o t o c K iL x c n a n g e .
18 \ M
H
Bonds.— Of the 1st (A ref.) bonds. $2,500,000 are reserved to retire prior
lieas, S5,o00,000 aro deposited under the gen. mtge. and $2,250 000 are
for add ns and ext s under certain restrictions. Red. at 105 and int on
n 4 y 6 -ntv d S I ° n ° , % n « e r t IT® 1 1 9 2 2 V T a £ reI , m d - i n ''* ■
S ee V . 102. p
1346, \ . 9 4 , p . 1508.
T h e g e n . m tg e . b o n d s a re s e c u r e d b y p le d g e o f
a p p r o x . 9 9 % o f th e c o m . a n d 9 3 % o f th e p r e f. s t o c k o f th e K a n f w h f
T r a c t io n A E le c t r ic C o a n d $ 5 ,5 0 0 ,0 0 0 1 st A r e f. m t g « T b o n d s
A s t^ n h ex
1 st A r e f . b o n d s a r e I s s u e d t h e y a ls o w ill b e p le d g e d u n d e r t h e g ^ n e r M
m o r tg a g e a n d n o a d d itio n a l K a n a w h a T r a c . A E le c . 1st A r e f m t le b o n d s
m a y b e is s u e d ( e x c e p t f o r r e f u n d in g u n d e r ly i n g b o n d s ) u n ^
p le d g e d
u n d er th e gen era l m o rtg a g e .
$ 6 0 0 ,0 0 0 e s c r o w b o n d s a r e S u a b l e f o r t h e
p u r p o s e o f a c q u ir in g c e r ta in c o a l p r o p e r t ie s a lr e a d y c o n t r a c t e d fo r
The
r e m a in d e r m a y b e is s u e d f o r 7 5 % o r t h e c a s h c o s t o f . t c .
u n d e r c e r t a in c o n d it io n s .
A d e p le t io n c h a r g e o f 2 0 c e n ts p e r g r o s s t o n o f
c o a l m i n e d a n d 3 c e n t s p e r 1 . 0 0 0 c u . f t . o f n a t u r a l g a s s o l d is U ) b e b . c l u d £ l
m i X s e H ? ? S >e m ^ i o n h<T * m o u , l t 8 t o . b e p a i d i n t o a s i n k i n g f u n d f o r t h e
p u rch a se o r re d e m p tio n o f g e n . m tg e . b o n u s .
T he co
a ls o c o v e n a n t s t o
e x p e n d o r r e s e r v e a n n u a lly fo r d e p r e c . A m a in t a r a m % ! ? t o 2 0 %
of
X h e l t O O o’ h ^ T s
" h 15J % ? f * L o s s e a r n i n Ks f r o m t h e
o f e le r t r i c i t y .
T ^ J k s ^ U c e
u i V . n H ri ^ S t e w
a s t 0 I’.r ir! c l P ;|1R ed - a” or p art on
V
107 n
1004 ‘ F Mr m« d
' P a y a b l e In N e w Y o r k o r B a l t i m o r e ,
. t in s
In t ■ T
( J a fk s b u r g 1 st m t g e . b o n d s s u b je c t t o c a ll
*
H u tec! ? n P h ila d e lp h ia S t o c k E x c h a n g e .
n d H i t f n n a i r w , in>Lrt b r
o f ,t h o 1 - y e a r n o t e s t h e c o . m a y n o t i s s u e a n y
hP
b o n d s ( V . 1 0 7 . p . 1 0 0 4 . 1 2 8 7 ) b e y o n d $ 6 0 0 ,0 0 0
? h ^ « I^fnta b 0 t l l e r e u n d r a \ e x c e p t f o r t h e p u r p o s e o f r e t i r i n g o r p u r c h a s i n g
I ) o o t n s : n ° r > ssu o a n y o b l i g a t i o n s H n d e r a n y f u t u r e m o r t g a g e , o r I n c u r
a n y d e b t o t h e r t h a n n o t e s o r a c c o u n t s p a y a b l e c r e a t e d In t h e r e g u l a r o p e r a t in n 0 f ‘ ^ b u s i n e s s .
R o d . a ll o r In p a r t a n y t i m e u p o n 3 0 d a y s ’ n o t i c e
1 0 0 a n d in t
V
108. p . 2620.
[Vol. 109
ELECTRIC RAILWAYS
41
Dividends.— 5 % was paid on the pref. stock to June 30 1917, when the
d iv . rate was changed to 6 % . Same rate has been paid quar. since to
and incl. J uly 1919. See remarks a bove. Initial dividend on com m on
— 2 % — paid Jan. 1913; July 1913, 1 H % ; O ct.. 1 3 * % . In 1914, M ar.
1 3 * % : July, 1 3 * % . In 1915, none. In 1916, 4%. In Jan. 1917 paid
1 % cash and an extra dividend o f 6 % in com m on stock; A p ril, 1 >1 % ;
Ju ly. 134% regular, and In A ug. an extra dividend o f 1 34% : O ct., 134% .
In 1918, 5 % . N one since.
E A R N IN G S .— For year ending D e c. 31 (1918 report in V. 108, p . 2625):
Year—
Gross.
Exp. A Taxes.
Net.
Fixed Chgs. Surplus.
1 9 1 8 .................... $3,787,328 $2,613,660 $1,173,669 $581,865 $591,804
1 9 1 7 .................... 3.046,769
1,639,381
1.407.388 454.026
953,362
T otal surplus D ec. 31 1918 after deducting pref. d ivs., $200,477: com .
d iv s., $413,831; d iv . on m inority pref. stock or K . T . & E . C o ., $2,349.
and $7,769 for adjustm ents, was $288,342.
R O A D .— Operates (exclusive o f Kanawha T raction Sc E lectric C o.
which see under “ Parkersburg, W . V a .“ ) street railways In Fairm ont.
W . V a ., and in Clarksburg. W . V a ., and an Interurban line o f 25 miles
connecting the tw o with various small branch lines; also lines from Fair
m ont to Fairview, 14 m .; Clarksburg to B ridgeport. 7 .6m .; Fairm ont to
M annington, 17 miles, and Clarksburg to W eston, 24 m : total track in
op eration, 116.57 miles. An extension from O 'N eil to W o lf Summit,
2 H miles, was placed in operation on July 12 1917. Standard gauge.
80 and 85-lb. T rail. T he c o .’s new steam pow er plant, which Is
located abou t 4 miles north o f Fairm ont, W . V a., w ill, it is estimated, cost
abou t $3,000,000 and will have an ultimate capacity o f 50,000 k .w .; initial
installation. 20,000 k .w . Present plant has 5.000 k .w . capacity. Initial
installation was to have been ready for operation on April 1 1919.
O F F IC E R S .— Chairman o f B oard , Jas. O. W atson; Pros., G . M . Alex
ander; V .-P .. Smith H ood; Sec. A T reas.. W alton M iller; Gen. M g r., E . B.
M oore; A u d .. O . F. Lough.— V . 107. p . 1287, 2009. 2290; V . 108, p . 480.
973, 2330. 2629. 2625.
________ ______________
F A R G O ,
N O R T H
F I S H K I L L - O N - T H E - H U D S O N ,
N .
Y .
F IS H K IL L E L E C T R IC R A IL W A Y C O .— A trolley road.
Leases the Citizens' St. R R ., L A P .. at a rental o f $8,255 per annum.
Fare Increase.— On July 25 1918 was auth. b y the N . Y . P . S. C om m , to
Increase fares from 5 to 6 cents. V . 107, p . 501.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity.
Stock $50 000 ______________ _____
________
$50,000 __________
First m ortgage, $50,000_____ 1895
6 J-J
50.000
July 192.e
E A R N IN G S .— For year ending D e c. 31 1916. gross, $56,130; net. after
tax es. $13,621; other Income, $32; ln t., rentals. See.. $12,000; sur., $1,653
R O A D .— Owns 434 and lease* 3 miles. T ota l. 734 miles.
O F F I C E R S . — Pres.. John T . Smith; V .-P , W T C onklin; S e c.. W . H
outhard; T reas., G . W . Patterson.— V .107, p. 501.
MASS.
FITCHBURO & LEOMINSTER STREET RY.
„
_
v
In April 1905 absorbed the Leominster Shirley Sc Ayer Street Ry through
exchange of stock, share for »hare. V. 80, p. 1478
In Sept. 1907 Mass
RR. Commission sanctioned Increase In stock from $450,000 to $700,000
new stock to be issued at 110. Company then petitioned Commission t
aUow stock to be Issued at 100 (V. 85. p. 722) but In Sept. 1908 Cornmis
elori denied application
V 87. p 812.
, .
Rato.— In Oct. 1918 filed with the Mass. P. S. Comm, a local and joint
class freight rate and minimum tariff, increasing rates by about 2o%.
STOCK, BONDS, Ac.—
Date.
Interest. Outstanding.
Maturity
tSStJ f f i a S f f i w r a w i -k > - \ n M
w S ®
L r s <V r i „ . « v t i 6 o ; 6 * f F « ! ‘
gold ($1,000)__________ c*(Int. at Boston Safe Dep. & Tr. Co., Trustee
K
'
(Guar, p & I. by Fitch. Sc Leom. Street Ry
Dividends.— For many yean up to and lncl. 1900-01. 8% ! since, 6% p. a
ROAD.— Owns 4151 miles of track. Road extends to Leominster
Lunenburg, Shirley and Ayer. 31 closed passenger cars, 24 open passenger
cars, 3 express cars and 5 snow plows.
EARNINGS.— For years ending Dec. 31:
^
„
,
C a l . Yr. G r o s s . N e t . a f t . T a x . O t h e r I n c .
|nL
SuJ < P ^ n
1917 $402,180
$87,436
$1,372
$59,468
$2/.000
$2,340
1916 . . 346,573
95.566
1.805
57.767
27,000
12.604
OFFICERS.— Pres.. Supt. and Purch. Agent. W. W. Sargent: V.-P.
H I Wallace; Clerk and Counsel, O. F. Baker; Treas., R. N. Wallis, all of
Fitchburg.— V. 87. p. 812; V. 103, p. 2238: V. 104. p. 663.
F O R T
D O D G E ,
I O W A .
FORT DODOE DES MOINES & SOUTHERN R R — See “ Railroad and
Industrial" section.
______
F O R T
S C O T T ,
K A N .
THE FORT SCOTT HAS & ELECTRIC CO.
April 1918 we were Informed that this company was in
the hands of a receiver. No later information.
O R G A N I Z A T I O N .— Incorporated In Kansas In 1900 and Is successor
to the Fort Scott Electric Light A Power Co., Citizens Electric Street Ry
Fort 8cott Steam Heating Co. and Fort Scott Gas Co. F r a n c h i s e expires
April 23 1922.
,
STOCK AND BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
R e c e i v e r . — In
ls^m^gagTsllojOOO'gold') 1903
5' V a -O
’ lisoonoi April'V1922
1 ($500) .sinking fund _c*ntf lint, at Chicago Title A , L^nLF0 '' TrUiltee
Ref mtge $300,000 ($500) ntf I -----5%
rV,7u‘ Yfn
ilnt. at Vandeventer Tr. Co., St. Louis. Mo
Bonds.— Of the 1st M. bonds, $50,000 have been retired. Sinking fund
began Apr 1 1998 as follows In 1908 and 1909, $3,500 per ann ; In 1010 and
1911 $4,000 per ann.; In 1912 and 1913. $4,500 per ann.; In 1914 and 1915
$6,000 per ann.; In 1916 and 1917. $7,000 per anu.; and from 1918 to 1921
Incl . $10,000 per annum.
ROAD.— 9 miles of track In Fort Scott.— V. 77, p. 1294.
F O R T
S M I T H ,
A R K .
FORT SMITH LIOHT A TRACTION CO
Standard Gas & Elec. Co., a holding company under the control anc
management of H M Bvlleshy S
c Co Chicago ill., owns $949,900 com
$798,700 pref. Rtock, $150,000 1st M. bonds and $100,000 2d mtge. 5s of the
company. As of Dec. 31 1918 the company had outstanding $955,666
promissory notes, of which $844,666 were held by the Standard Gas A El. Co
ORGAN 1Z.ATION.— Incorporated in Arkansas ou April<13 1903 as a con
solidation of the Ft. Smith-Van Buren Light A Transit Co. and the Ft. Smltl
Trac., Lt. A Pow. Co. Owns all physical property, contracts, rights and
franchises of Van Buren Fuel St Light Co. (now dissolved). Does the entirr
electric light, gas and street railway business of the city, and the electric
light and gas business of Van Buren- operates an Interurban line hetweet
Ft. Smith and Van Buren. In 1917 contracted to supply electricity *
two public service corporations which supply towns, villages and cos.'
mine* to the south and east of Fort Smith. Street railway, gas and electrio
light f r a n c h i s e s in Ft. Smith expire in 1955. Gas and electric light f r a t v
chists in Van Buren expire in 1957; street railway in 1962.
Calendar Year
D A K O T A .
N O R T H E R N S T A T E S P O W E R C O .— FA R G O -M O O R H E A D D I
V IS IO N (S T R E E T R A IL W A Y ).
O R G A N IZ A T IO N — Fargo A M oorhead Street R y . was incorporated
July 19 1902 in N orth D akota. In April 1916 N orthern States Power
C o . acquired all o f the physical p roperty. See V. 102, p. 1441, 1543. In
June 1912 new 25-year franchises were granted in Fargo. M oorhead and
D ilw orth . Operates In Fargo, N . D ., and M oorhead, M in n ., and an
Interurban to D ilw orth. M in n ., a total o f 15.584 m iles. Standard gauge.
70-lb. T rail. General Managers, H . M . B yllesby * C o ., C hicago, 111.
V . 105, p . 2099; V . 107, p. 604.
F I T C H B U R G ,
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
$950,000 ................. -■
Common, $1,500,000 ($100).....................................
Pret $5,000 000 ($100) 7% cum____
Q-J 15
1.410,000
See teal
First mortgage tfe.000.000 g( 1911
Sg M-S
2,483.500 Mar 1 1936
sf ($500 and $1.000)____c*(Int. at Illinois Trust Sc Having* Bank, Chic..
I Trustee, or at agency of eo in N Y or Bos,
Second mortgage $1,000,000. \ 1918
5 M-S
400,000 Sept 1 1921
jlnt. at Cont.ACom.Tr.A S.Bk., Chic., trus.
Stock and Bonds.— Pref. stock Is reu at any tune after 3 years from issue
at 110 and accrued div. Remaining 1st M. bonds can only be Issued tor
75% of coal of additions. Improvements and extensions under certain re
st,rlcilons. See V. 92, p. 956
8ubj. t-o call as a whole or in part on any
lnt day at 105 and lnt. Cash sink. fd. ol 1% yearly 1914 and 1915, 1 3* %
yearly 1916 to 1918, 2% yearly 1919 to 1923 and such ratable amounts
thereafter as by July 1 1935 will make total sk. fd. 40% of bonds certified
V. 92, p. 956. $216,500 have been retired.
,
D ivid en d s .— Prel Is cum. from Jan. 1 1912.
1st div. on pref.— 1)4%—
paid April 15 1910; July. 1H % : Oct. .1 )4 % and 1J4 % quar.to and Includ
ing April 1913; none since.
EARNINGS.— For years ending Dec. 31:
_ ,
—
1918................................ $693,981
$230,930
$206,296
sur.$24,634
1917................................ 508,670
154,266
181,912
duf. 27,640
ROAD.— Owns and operates 31 miles of track on 12 miles ot streets in
Pt. Smith and suburbs. Standard gauge, 60-Ib and 80-lb. T rail. 41 cars.
Owns a park of HO acres. Also gas works for distributing natural and arti
ficial gas (artificial gas plant is held in reserve) with 78 miles of mains, and
electric power and lighting plant— generating capacity. 8,600 horse-power
and pole line of about 165 miles.
OFFICERS.— Pres., A . S Huey: V.-P.. H. M. Byllesby: Vlce-Pres. &
Mgr., D. C, Green; Sec., Aud. & Treas., R. E. Ballard; Gen. Mgrs., H. M.
Byllesby & Co., Chicago.— V. 107, p. 1747; V. 108, p. 170, 2433.
Gross. Net. aft. Tax. Ini.Chgs.(Net) Balance.
F O R T
W A Y N E ,
I N D .
F T . W A Y N E & N O R T H E R N IN D IA N A TR ,AC. C O .— A trolley road .
Controlled by same Interests as the Ohio Electric R y . and the Terre
Haute Indlanapolli A Rastern
Receivership.— On Feb. 10 1919 Pres. R o b t. M . Feustel was appointed
receiver for the com pany upon application o f the E vans Coal C o . V . 108,
Reorganization Plan.— T he bondholders’ com m ittee for the F ort W ayno &
W abash Val. T rac. 5s. P . M . Chandler, Chairman, has announced a plan
o f reorganization dated A ug. 18 1919, which m ay bo declared operative
when approved b y 7 5% o f the Ft. W ayno Sc W abash Val. T rac. 5 % bonds.
T he plan provides for the form ation o f a new com pany which will acquire
the property o f the com pany, excluding such division or divisions as the
com m ittee m ay hereafter determine. The capitalization o f the new com
pany (excluding securities reserved) will consist o f the following:
$4,679,450 1st & R ef. 5s, dated Jan. 1 1920, due Jan. 1 1950. Authorized
issue m ay b e limited or unlim ited as the com m ittee m ay deter
mine.
4,807,750 3 -6% (non-cum .) adjustm ent m tge. bonds dated Jan. 1 1920.
A u th ., $ 6 ,000,000. In t. payable semi-ann. if earned (non-cum .)
but no int. shall bo paid until after Jan. 1 1920, and no int. shall
be paid unless earned in excess o f proper prior charges; and for
the year 1920, b ut not thereafter, in excess also o f the sum o f
$300,000. Tho int. rate shall not exceed, for 1920, 3 % per ann.;
for 1921, 3 % : 1922, 4 % ; 1923, 5 % : 1924 and oach year there
after, 6 % . The holders will be entitled to representation on the
board after 1923 if the int. is not earned and paid for a period o f
_
t:vL° years- R ed ., all or in part, at par and int. on any int. date.
2.202,250 7 % pref. stock: auth., $5,000,000. P ref. a. & d. (non -cum .).
2; 212.250 com m on stock: authorized, $ 5 ,000,000.
l h e above securities will be distributed as per the follow ing table:
_ ,
„
Securities—
New First Adjust.
Ref. 5s. Mtge. 5s.
A
7% Pref.
Stock.
Common
Slock.
$225,000 Laray. St. R y. Ist 6s “ o t' yet in
" plan
'
-N
(see note)$29,000 Ft. W ayne T r. 1st 4 s.-N o default; to remain undisturbed
$57,000 F t.W a yn eP ow .lst 5s.-N o default; to remain undisturbed
$400,000 F t.W ayne M arion &
Bluffton T rac. C o. 1st os -N o default; to remain undlsturbodT o $6,966,000 Ft. W ayne & $3,483,000 $3,483,000
W abash Valley 1st M . 5s
(50% )
................
T o $275,000 Wabash River
1^7?500
137,500
1st M . 5s________________
(50% )
T o $849,000 L a fayette” &
$212,250
212,250
$212,256
A
Logansport 1st M . 5 s . . .
(2 5% )
(2 5 % )
(2 5% )
T o $3,000,000 Ft. W ayno &
360,000
750.000 1,890,000
N or. Indiana Gen. M . 5s.
(25% )
(6 3 % )
(l2%)
T o $2,500,000 Pref. s t o c k ..
225.000
100,000 1,600.000
(6 4 % )
(9 % )
(4 % )
T o $4,000.000 C om m on s t o c i _________
........... . . l [0)400,000
R es. for undisturbed bcls.(100% )486,700
Res. for issue b y com m ittee
or treasury o f new com pany
320,550
287,750
192,250
297.750
T otal present auth. I s s u e ..$5,000,000 $5,000,000 $2,500,000 $2,500,000
Note.— The Lafayette St. R y . division is subject to an underyling m tge.
to secure $225,000 o f L afayette St. R y . C o. 1st M . 6s. T h e holders o f
these bonds are not givon any recognition in the above table o f distribution.
A com m ittee has boon form ed to represent tne interest o f thoso bondholders
and an offer has been m ade to that com m ittee on behalf o f tho Wabash
Valley com m ittee, b ut this proposition has boen rojectod. T ho com m ittee
shall nave full power to agroo upon any com prom ise, Including pow er to use
any o f the now securities available for the purpose either to bring to tho
Lafayette St. R y. bondholders into the reorganization or for securing from
them a release o f all claims.
Unless 75% or m ore o f each o f the above bond issuos agroo to Join in tho
reorganization, the com m ittee m ay eliminate said division from tho reorgani
zation; In case any division Is not taken into tho reorganization, tho securi
ties exchangeable for the bonds thereon shall be applicable to reorganization
purposes and if not so used shall be placed in tho treasury o f tho new com
pany available for corporate purpose. A dotailod outline o f tho above pli>n
appeared in V . 109, p . 775, to which wo refer the reader for further particu
lars. In A ug. 1919 it was stated that the receiver would shortly a p p ly f ° r
an order o f sale. V . 109, p . 775.
O R O A N I7.A T IO N ,— lncorp . in Indiana on Feb. 13 1911 to take over the
Ft W ayne A Wabash Valley T ra c. O o. per plan In V. 92. p 394. 594.
The Ft. Wayne A Wabash Valley T raction (5o. had previously acquired
through consolidation or purchaie the following com panies.
Ft. W ayne Marion A Blufftou T r.G o. Lafayette Street R y.
Ft. W ayne El. Lt. A Bower C o .
'
~
. o.
Logansport
Railway O
Ft. W ayne A Southvv. T ra c. C o .
Logans. R ocb . A N or. T ra c. C o .
Ft. W ayne Traction C o.
W abash-Logansport T raction O o.
Lafayette A Logansport T ra c. C o .
W abash River T raction C o.
Also controls F ort W ayne Power C o .. Carroll Electric Light C o. and
Wabash Valley Utility C o. Owns a one-fourth Interest In the U n it e d
TraCtlonsCoal C o. which owns and leases valuable coal lands to Insure tho
com pany an adequate supoly o f coal (soe Shirley Realty C o . o f Indiana in
V. 104, p. 1805).
Furnishes electric light In Ft. W ayne, Roanoke and Delphi; municipal
franchises extend to 1835 and 1998. except in Ft. W ayne, which lor more
than H ot street railway are perpetual, the baianco being lor outlying exten
sion* and extending to 1937. Lighting franchiser In Ft. W extends to 1935.
Default.— Int. due Sept. 1 1917 on $1,059,000 1st A ref. 5 % bonds and
$1,164,000 6 % collateral notes o f the Ft. YVayno & N or. Incl. T rac. C o .,
and on the $6,966,000 Ft. W ayno Si Wabash Valley 5s was defaulted. T ho
holders o f the 6 % collateral notes have surrendered same and takon tho com
p any's $1,941,000 1st & ref. 5 % bonds which wore plodgod as collateral.
T he com pany having given notlco that it would dofault on tho paym ent o f
int. due June 1 1919 on the L afayette St. R y . 1st M . 534s, the follow ing
com m ittee was form ed (V . 108, p. 2329):
Committee for Lafayette St. Ry. 1st Mtge. 53*s.— Dlm ner Beebor, W arren
G . G riffith, and W alter Haehnlen. D epositary: Roal Estate T rust A o .,
V . 108, p. 2329.
Foreclosure Suit.— On D ec. 5 1917 the Central T r. C o ., as trustee, brought
foreclosure suit against the co . because o f default on Sept. 1 1917 Int- on
1st A ref. 5s and 6 % co d . notes.
Committee fo r Notes.— G eo. W„ D avison. James C . B rady, n e n ry Sander
son; 8 oc., Chas. E . Sigler, 54 Wall S t., N . Y .; depositary. Central T rust
C o . o f N ew Y ork.
Nov., 1919. j
45
ELECTRIC RAILWAYS
Committee for Ft. Wayne A N or. Indiana Trac. 1st A Ref. 5s. Pref. and
Common Stockholders and Holders o f Dividend Certificates.— W m . A . Tucker
Thas. H. M urray. J. Levering Jones. Jay C ooke, Randal M organ, Henry
Sanderson. Depository. Central Trust C o ., New York.
Committee for Ft. Wayne A Wab. Val. Trac. 5s.— P. M . Chandler. Chair
man; E . W . Clark, C . S. G ray, John M . Irwin, A . A . Jackson, John H.
M ason, C . S. W . Packard, R . Lancaster Williams; Sec., J. K . Trim ble,
Franklin Bank B ldg., Phila. Depositories, Comm ercial Trust C o ., P hila.,
and Fidolity Titlo & Trust C o ., Pittsburgh, Pa. V . 105, p. 1419. In
A ug. 1919 $6,063,000 o f the $6,966,000 outstanding bonds o f this issue had
been deposited with the com m ittee. V . 109, p. 775.
Committee for Lafayette A Logansport 1st Mtge. os.— Rowland C om ly,
Chairman; C ol. Sheldon Potter, W in. B . Whelen and Edw. V. Kane,
all of Philadelphia. Depositary: T he Logan Trust C o ., Phila. V . 105.
p. 1522; V. 106, p. 296.
Fare Increases.— On Jan. 15 1918 was auth. b y the I.-S . O . C om m , to
Increase its pas-enger fares 1 5 % . On M ar. 4 1918 was auth. b y the Ind.
p . a C om m , to put into effect, for the duration o f the war, a straight
5-cent fare.
In Jan. 1919 applied to the Indiana P. S. C om m , for auth.
to charge a straight 6-cent fare in Foi;t W ayne, Logansport, Lafayette,
W abash and Peru and to increase interurban rates from 2 4 to 2 4 cents
per mile. V . 108, p. 378. T he increase from 2 4 cents to 2 % cents per
mile in interurban rates became effective in the latter part o f April 1919.
On M a y 1 1919 the Ind. P. S. C om m , denied the com p any’s application for
a 6-cent faro in the above-nam ed cities. This denial continues in force
until Jan 1 1920, after which the Comm ission will issue a final order, based
on reports which the com pany is required to m ake to the cities and the
Comm ission every 3 m onths, and other considerations. V . 108, p . 1221,
1936.
S T O C K 4.N D BON DS—
Date.
Interest. Outstanding.
Maturity
O m m on. $4,000,000 ($100).........................- - - - - - - *4.000.000 .....................
Stock.— T he pref. stock Is redeemable at 110. V . 94, p. 1449. B oth
classes o f stock are listed on the Boston Stock E xchange.
ootids.— O f tue soil, trust Ponds, $2,500,000 are reserved to retire N orth
.■an Texas Traction 1st M . bonds; $250,000 have been retired. C oupon
bonds are in denom . o f $1,000; registered bonds, $1,000, $5,000 and
$10,000. Callable as a whole or In part, for sink. fd. only, at 105 and Int. on
any int. date.
o f 1% o f bonds out began N ov. 1 1911. Bonds
are secured by deposit o f all the stock o f the N orth. Texas T rac. C o . V. 90,
p. 373, 1239. The Northern Texas Traction C o . bonds are subject to call
as a whole on any Interest day at 105 and Interest.
D I V I D E N D S .— First dlv. on pref. (1 % ) paid M arch 1 1906 and 2 %
8ept. I 1906; since, 0 % per annum. First dividend on com m on stock,
2 % , paid Sept. 1 1909; in 1910, 5 4 % : In 1911 and 1912. 6 % ; in 1913
6 4 % : in 1914. 7 % ; in 1915. 4*4°^: In 1916 and 1917, 4 % . In 1918,
6 % . In 19 19 , M arch, 1 % ; Juno, 1 % ; Sept., 2 % .
,,
_
„„
K A R N 1 N G 6 .— (Jf conjoined companies for 12 m onths ending June 30:
Sinkingfund
Year— Gross
Nettnft.Taz.) Oth lnc. Interest. Sink.Fds. Survhis.
1918-19 $2,927,397 $983,627 $115,000 $300,506
............
$798,121
---------1.109.815
1917- 18 3,078.818
1,331,553
86.250 307,987
R O A D .— Subsidiary companies operate 162.7 miles o f track, standard
gauge: 236 passenger, 30 trail and 16 other cars. In July 1916 com pleted
an 1,800 ft. viaduct over the steam roads entering Union D epot in Dallas.
Power station has capacity o f 10,800 k. w .; also purchases pow er from the
Dallas Power A Light C o .
,,
,
_
_
,
_ ,
O F F IC E R S .— P res., Marshall M . Phinney; Sec., George A . Peirce;
Treas. Henry B. Sawyer; Gen. Mtrrs., Stone A W ebster M-tt. A ssn., B os
ton .— V . 102, p. 154; V. 104, p . 1899; V . 106, p . 396, 818, 2346.
F O S T O R I A ,
O H I O .
FOSTORIA & FREMONT RAILWAY CO.
. . . . .
O R G A N IZ A T IO N .— lucorp. In Ohio in 1909. Ownership Is largely
represented by Interests Identified with the Lake Shore Electric R y . C o .
D ividend s c r i p _____________ ____ _
. . . . . . . . abt./o.OOO
. . . . -----Western Ohio R y. C o. Besides passenger business, does a freight and
1st x ref mtge $15,000,000. tf 1911
5 M -S
3 ,000X 00 M ar 1 1931 and
F t W A W Val Tr 1st cons M i 1904
5 g M-S
6,960.000 M ar 1 1934 express business and handles coal for use by Ohio State Power C o. at
Fremont.
$7 500 000 g ($1,000) _ c * t f/ Int. at Comm ercial T r. C o .. P hila., trustee
Fares.— In July 1918 was auth. b y the Ohio P . S. C om m , to increase
Series “ A " ( $ 1 . 0 0 0 ) - - __________
5 F-A
16.000
See text passenger fares to 3-cents per m ile. V . 107,, p . 401. C om pare V . 107.
p. 82.
Series ”B ” ($1,000 e a c h l . t f -----5 M -S
8.000
See ter
Date.
Interest. Outstanding.
Maturity.
Series *‘C ”
--------------- ------34,000
Seetext S T O C K A N D B O N D S —
$200,000 - ...................
WaOasti Klv Tr Co 1st rntgei
1901 5 g F-A
275,000 Aug 1 1W3) Coin stock, $200,000 ($100)....................................
Pref stock $200,000 ( $ 1 0 0 ) - - - ----------------200.000
See text
$350 000 ($1,000) g .- * n t f l t n t at N . Haven T r. C o ., N H aven, trustee
5 A-O
200.000 O ct 1 1930
Ft W ayne Tr mtge $1,500.- 1899
4 g A-O
29.000 O ct 1 1939 First m tge $250,000 ($1,000)1 1910
go ld _____________________c*| ln t. at Cleveland (O .) Trust C o ., trustee.
000 cold (SI 0 00 (____ c* t f lin t , at Guard. Tr. C o ., C leveland, Trustee
Bonds.— Normal Federal Income tax paid at source.
Lafayette Street Ry Ht m tge) 1893
5 4 J-D
225.000 June 1 1923
Dividends.— Paid a dividend o f 3 % on pref. stock in Jan. 1913. In 1917.
($1 000 each) $ 225 .>XK)e* tf 1tut. at Real Estate T r. C o .. Phila., Trustee
c ., 6 % . In 1918, D o c ., 3 % .
Lair A Log Tr 1st M $1,0 00 .-/ 1906
5 g J D
849.000 June 1 1936 D eH
A K N IN U S .— For year* ending Jnne 30:
000 g ($1 1)00) gu p A lc* tf lin t , at Guar. T r. A S. D C o .. Phila , Trustee
12 Months—
Net. after Taxes. Int.
Dcpr.Rcs’ ve. Surplus
t W M A B 1st M $100,000) 1905
5 g J J
400.000 July 1 1936
$28,121
$7,574
$1,221
$19,326
eold ($1,000) guar p A I. t f f l n t . at Guar. T r. A 8 . D . C o .Phila., trustee 1918- 19..................... $87,484
32,927
8,370
1,221
23.336
67.700 N ov 1 1937 1917-18................ ........ 75,859
Ft W Power C o m tge..........t f / 1 9 0 7 5 M -N
R O A D , A O .— 21.38 miles o f electric interurban railway on private right1Int. at Guar. T r. A S. D C o .PhUa.. trustee
Bridge bonds_________________ ______
________
25,600
-------------- of-w ay, connecting Fostoria and Frem ont. Forms the connecting link
Paving b o n d s . - . - __- - - - - - - - - - - - ------99,792
- - - - - - - between the Western Ohio R y., T oledo Fostoria A Findlay R y . and L ake
Shore Electric R y ., all o f which use the line under traffic con tracts.
Sue k
noth stocks are listed on Phila Stock E xch.
v 94. p 826.
O F F IC E R S .— P res., F . D . Carpenter, Lim a, Ohio.— V. 107. p. 82. 40.
Bonds.— O f the 1st A ref. M ., $8,807,000 are reserved to retire underlying
bonds and remainder for acquisitions, extensions and additions. Sub
je ct to call as a whole on any interest day at 105 and Int In addition
F O X B O R O ,
M A S S .
to bonds not (si above there are $3,500 lost bonds o f the Loganspt Ry out
NORFOLK & BRISTOL STREET RY.
standing, due Sept. 1 1929. For liens o f various Issues see V. 105. p. 1103
O R G A N IZ A T IO N .— Incorporated In Massachusetts In N ovem ber 1901.
T he Ft. W . A W . V. consols o f 1904 are not subject to call before m aturity
— On Aug. 19 1915 the M ass. P . S. C om m , granted per
T hey are listed on Phila. Stock E xch. The W ab. R iv. T rac. C o. 5s o f 1901
are subject to call at any time at 105 A int. Lafayette A Logansport 1st mission to increase the fares from 5 to 6 cents or 18 tickets for $1 SeeV. 101. p. 694: V. 103. p. 1031. In June 1918 the co . notified the M ass.
M . is closed; no more bonds can be Issued.
The Lafayette St. Ry 1st M . 6s were extended for 10 years to June 1 P. S. C om m , o f a faro increase from 6 to 7c. with 15 tickets for $1. effective
June 29 1918. In N o v . 1918 notified the P . S. Coram . o f its intention to
1923 si 5 4 % Interest
,
T he Penn. C o. for Insur. on Lives A Granting Annuities is trustee o f increase fares from 7 to 8 cents and to make a corresponding increase in
let. W . A N . I. T rac. car trusts. Series “ A ” mature $2,000 each Feb. and com m utation rates. V . 107, p . 1837.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
$3,000 each Aug. to Feb. 1923. Series " B ” mature $1,000 s.-a. to M arch 15
1923. Tri-State Loan A Trust C o ., F t. W ayne, trustee Series " C , " which Stock, $200,000 ($100).............................................
$200 000 .....................
mature $2,000 M arch, June, Sept, and D ec. 1.
1st m tge. $200,000 ($ 1 .0 0 0 ).I 1908
5 g J-J
189 000 July 1 1928
X.
sink. fd . Rad at 1 0 5 --IIn t. at American Trust C o . B oston, Trustee
IholdeuUs. — <>u pret., 1
Vo >iuar.. rnim organization to Sept. 1912. Io
— $11,000 first m tge. bonds in addition to those reported out
M ay 1913 a scrip dlv. o f 3 % was paid, covering divs. payable D ec. 1912
standing are hold in sinking fund.
and Mar. 1913. See statement In V. 96, p. 1422. N one since.
E A R N IN G S .— F or 12 m os. end. D ec. 31 1918. gross, $95,157: net. d e f..
R O A D .— Operates 220.33 miles main track connecting F ort W avne,
H untington, Wabash, Peru, Logansport, Delhi, L afayette and B luffton; after taxes, $7,182: bond int. A sink. fund. $12,000; loss for year, $19,182.
R O A D .— Own* 21.739 mtlaa o f track between N orw ood. M ansfield mid
also local lines in Fort W ayne, W abash, Peru, Logansport and L afayette.
A t Logansport, Peru, W abash and Bluffton connection is made for Indianap W rentham: 21 passenger cars, 3 unow plows and 2 se-vtca cars.
O F F IC E R S .— Pres., Lawrence A .F ord; T reas., R .E lm er Townsend; Gen.
olis over tracks o f Indiana Union Traction C o. In M a y 1906 began through'
servico botwoen Fort W ayne and Indianapolis over tracks o f Union T raction M g r ..M . A . C avanaugh.— V. 101. p .6 9 4 ; V . 106, p . 2450; V . 107. p . 1837.
C o. o f Indiana. See V . 82, p. 1101. Rails, 60, 70, 72, 80 and 90-lb. Owns
2 power houses and 4 pleasure parks. Owns 180 passenger cars and 60
F R E S N O ,
C A L .
other cars.
.
.
„
_
SAN JOAQUIN LIGHT A POWER CORP.
R E P O R T .— For calondar years ending D ec. 31:
O
R
G
A
N
IZ
A
T
IO
N
.—
Incorporated
In
California
on July 1 9 .1910as a con Calendar
Gross
Expenses
N et
Balance.
soli ration o f the San Joaquin Light A Power C o ., the Power T raoslt A Light
Year—
Revenues,
and la ze s. Revenues. Interest.
Sur. or D ef.
C o . (Bakersfield) and the M erced Fall* Gas A Electric O o. Absorbed tne
1918.................. $2,076,301 $1,812,607 $263,694 $579,482 def.$315,788 Selma Water W orks, M adera Water W orks, M adera L t. A Pow . C o ., Lem 19 17 .................. 2,020,349
1.488.9S7
539,362
583,019 def. 43,657
more Lt. A Power C orp. and Bakersfield Gas A Elec. L t. C o . con trol t
1916.................. 1.777,686
1,161,786,, 615.900
584,274 sur. 31,626
stock ownership the T ide R iver C o ., having plants on the T ul e
Latest Earnings.— For 12 m os. end. M a y 31 1919, gross revenue, $2,245, through
River, C al. T he M idland Counties Public Service C orporation (V . 98.
771: not, after taxes, $348,315.
1849), controlled In same Interest, purchases all o f Its power from the
O F F IC E R S .— Chairman o f B oard, J. Levering Jones; Pres., R obert M . p.
Joaquin Light A Power C orporation. In Feb. 1919 it was reported
Feustel; V -.P ., Treas. A Sec., H . E . Vorderm ark, Ft. W ayne; Asst. Sec., San
the M idland Counties Public Service C orp . would consolidate with the
H. J. Alkor, Phila.— V . 105, p. 2272: V . 106, p. 295, 1126; V . 107, p . 1192; that
San
Joaquin
Light A Power C orporation in the near future. V. 108, p .
V. 108, p. 378, 784, 1221, 1936, 2329; V . 109, p. 775.
880. Franchises in cities are perpetual; outside o f cities, with tw o excep
tions, extend beyond 1950. A bou t one-half the total length o f transmis
sion linos is on private right o f way. Supplies electricity for lighting,
F O R T
W O R T H ,
T E X A S .
power and pum ping purposes throughout the San Joaquin V alley, including
the cities o f M erced, M adera, Fresno, Selma, H anford, Bakersfield
N O R T H E R N T E X A S E L E C T R IC C O .— A holding com p a n y.
Sanger, Dinuba and about 50 towns and small cities; population served,
O f the com m on stock, $500,000 is owned by Pub. Servico in vest. C o .
about 250.000. Distributes gas in Bakersfield, Kern, M erced and Selma;
O R G A N IS A T IO N .— incorporated In \laine N ov. 16 1905 and owns the operates a street railway system in Bakersfield and Kern and furnishes
entire stock and participating bonds o f the Northern Texas Traction C o .. water for dom estic purposes in Selma and M adera.
which does all the electric railway business in Fort W orth and operates an
Rate Increases.— On April 22 1918 was auth. b v the C al. R R . C om m , to
Interurban line between that city and Dallas, 36 miles, and the capita! put into effect a new schedule o f power and lighting rates. On M a y 28
etock of the Tarrant C ounty Traction C o. (name changed from Ft W V th
1918 was auth. to put into effect a surcharge o f 1 0 % . In Feb. 1919 auth.
Southern Traction C o. In 1914). which operates a line between Fort W orth to add a surcharge o f 15% to all bills was granted b y the C alif. R R . C om m .
and Cleburne, T ex .. 31 miles. It Is proposed to extend the line from V 108, p. 685.
Cleburne to Denton, the rights o f the Hort W orth-Deuton Interurban C o.
In Aug. 1918 was auth. b y the C al. R R . C om m , to issue and sell at not
having been acquired. V. 99, p .1 2 1 , 122. Also owns the capital-stock of less than 90 $113,000 series “ C ” 6 % 1st A ref. m tge. bonds, proceeds to be
the Arlington Light A Power C o ., which does the electric light and power. deposited and expended for acquisition o f p rop erty. V . 107, p . 611.
Ice and water business In Arlington, T ex.
Enters Dallas over Its own These have since been issued.
In Sept. 1918 was auth. b y the C al. R R .
tracks. See V 89 p. 411. Has leased for 20 years from Dec. 17 1915 the C om m , to use the proceeds from the sale o f $202,761 series “ C ” 6 % bonds
terminal facilities o f the Dallas Interurban Terminal Assn, which see under to finance construction expenditures. V . 107, p. 1102. In O ct. 1918
Dallas Railway C o. on a preceding page. In 1917 leased (with the right applied to the C alif. R R . C om m , for auth. to sell S118.449 Series “ C ” 6 %
to purchase for $2,000,000) the Oak C liff line to the Dallas R y. at an annual bonds to reimburse the treasury for capital expenditures. V . 107, p 1485
rental or $115,000 for first 3 years. $120,000 for fourth year, $125,000 for In N ov. 1918 was auth. to use the proceeds o f $112,551 Series “ C " bonds to
fifth year, $135,000 for sixth year and $150,000 thereafter.
finance capital expenditures. V. 107. p. 2015.
Franchises of Northern Texas Trac. C o. In Fort W orth expire In 1973: In
In M a y 1919 the co . issued $1,000,000 Series “ B " 6 % co n v . debentures,
Dallas in 1937; others about 1950; has private right-of-w ay outside of proceeds being used to reimburse the co . for exts. and im pts. m ade subse
cities. Tarrant County Traction C om pany in Fort W orth and Cleburne quent to Jan. 1 1917. V . 108, p. 2123, 2242, 2529Bxuire In 1936; between those cities has private right-of-w ay except In
ST O C K A N O B O N D S —
Date.
Interest.
Outstanding. M aturity
towns A c.. In which cases Its rights expire in 1961. V. 92, p. 1243. Road
m on $15,000,000 ( $ 1 0 0 ) . . ........ ..... ........... $11,000,000
was com pleted In Aug. 1912 and began operation In Sept. 1912. Franchise Com
Pref. $ 10 .00 0 .0 0 0 r$ in 0 )6 % cu m .___
Q — M '5
6 500 non S e p t"19 i 4
In Arlington expires In 1949.
1.000,000 M a y 1 1927
Ou Feb. 24 1913 Increased auth. pref. stock from $4,500,000 to $5,000. C on v debs gold Series A f 1917 6 g M -N
$4,500,000
($1.000)„
c
*
t
f
1919
6
g
M
-N
l .OO&OOO M a y 1 1929
000 and the com . from $2,500,000 to $5,000,000 (V . 96. p. 488, 654), and
Series B ................ ................... (Int. payable in Los Angeles or N ow Y ork.
holders o f both classes o f stock wore given the right to subscribe for $650,000
1st A Ref m tge $25,000,000 Ki 1910 .-6 F A
8.535.000 \u« 1 1950
new com m on stock at par. V. 96, t>- 790
($1,000) .Ink fu n d L c* A r * t}/B o u lt. T r. C o .. N . Y . ires. InL ?n N v !
Id Sept. 1917 received franchises for the construction o f additional track
1905 5 J-D
2 588 000 June 1 1945
age and terminal facilities to handle the heavy traffic incident to the array San Joaquin L A P Co l«t M
$3 0 O q .0 O 0 «f($ l.0 O 0 )c*n tf(R ed eem a b le at 110 and luterw *.
activities o f Cam p Bowie, near Fort W orth; work was begun in N o v . 1917.
San Joaquin Power Oo
n t f ------ 5 %
25.000
1942
An expenditure of $100,000. it is stated. Is luvolved.
73.000 Jane 1 1933
In N ov. 1917 the co. announced an Increase In passenger rates from about Fewer Trans A Lt M $2,500-1 1903 5 g J-D
000
gold
($1
000)
.
------tf/M
e
rca
n
tile
Trust
C
o
.,
San
Francisco,
trustee
2 4 cents to abou t 2 X cents per mile to cover Federal taxes and increased
B rtw rftoM k 1? ,,rn Flee Ry { 1901 5 g J-J
41 000 July 1 1931
costs of operation.
$250,000 gold ($1,000) n tf) Union Trust C o .. 8an Francisco, trustee,
STOCK AND BONDS—
Date.
Interest. Outstanding.Last Die A c
of Stoc*.—-Capital stock cannot be Increased without assent o f three-fourth*
C om m on $5,000,000 ($100)..............
QM
*3.150.000 Sept. 19 2 %
stock o f both clasaen
Pref 6 % n-c $5,000,000 ( $ 1 0 0 ) -----M AS
4.000,001) S jp t. 19.3%
Lst A ref bonds o f 1910 reported outstanding, $1.500,000
Ooil trust M $10,000,000goldl 1910 6 g J-J
3,510.000 Jan
11940
($1,388,000 held by public. 522.000 repurchase'! by the co. and $90,000
sink fond (see text)c»A r* t f ' Int. at Com m onw ealth Tr. C o. Bust.. Trust
held alive In sink, fund) are Series A 6s: $799,000 are Series B. bearim 5 % .
N o Tex Trac 1st M $2,600,000 [ 1903 5 g J-J
2.500,000 Jan 1 1933 and $2,125,000 ire Series B, bearing 6 % . and $4,202,000 (o f which $50,000
($1 0(F)) gold — no sinking) Int. at Citizens’ Sav. A T r. C o .. C le v ., Trus
certified but not sold) are Series C 6s (V . 100. p. 7384. $2 831.000 First
fund ............................. c * t f l or at Chase N at. B ank, N ew York.
A R efunding M . bonds are reserved to retire prior liens (Incl. $191,000
P r e f . 6 % ( c u m ) , $ 4 . 0 0 0 . 0 0 0 ( $ 1 0 0 ) ------
Q -M
2 .5 0 0 .0 0 0
S e e te x i
Gross.
Fare Increases.
Bonds.
held In or for sinking funds) and remaining $ 1 3 ,4 9 3 ,0 0 0 bonds m ayb e
Issued at not exceeding 6 % int. for add'ns, im p ts.. A c ., at 7 5 % of cost
under certain restrictions. Series A callable at 102 44. others at 105.
Tax exempt in California.
First and refunding mortgage contains
sinking fund provisions calling for payments of $145 ,00 0 annually
(to be used partly for betterments and additions and partly for re
demption of bonds, Series A bonds having preference over other series)
from 1915-1919; $150,000 annually from 1920-1924 and ranging there
after from 2 4 4 % annually of bonds out from August 1925-1929, lncl.,
to 4 4 4 % annually from August 1945-1949, inclusive.
V. 9 1 , p. 1332.
B y a supplementary mortgage, holders of Series B 5s were permitted
to exchango them for Series B fis upon paym ent o f $100 per bond up to
M a y 31 1917. The debentures are redeemable, all or part. Series A at any
tim e prior to M a y 1 1922 and Series B prior to M a y 1 1924 at 102 and int.
and thereafter at 101 and int. Under the trust agreement the co. covenants
that no further underlying bonds are to be issued; that no further mtgo.
than existed at M a y 1 1917 be made; that debentures outstanding and float
ing debt will not at any time exceed $ 4 ,8 0 0 ,0 0 0 . and that no dividend*
be paid stockholders in excess of present rate when floating debt exceed*
$300 ,00 0
Provision for conversion into 6 % cumulative preferred atock
will bo m ade.
Security Trust & Savings B ank, trustee. V . 104, p. 1903;
V . 108. p. 2529.
. ,,
O f the $ 2 ,588,000 San Joaatiin Lo. & P o w .C o . 1st 5s, $6,000 are held
by co. for sink. fd. purposes and $3 7 ,0 0 0 alive in sink. fd. $ 72,000 Power
Transit & Light C o. 5s in addition to the am ount reported outstanding
are held alive in sink. fd . $ 82,000 Bakersfield & Kern Elec. R y. 1st 5s are
held in sink, fund (in addition to those reported as outstanding).
.— Paid 4 4 4 % on pref. stock in 1912, In 1913. 6 % ; in 1914, 3 % ;
■one to June 1917, when 1 44 % was paid; 1 44 % quar. since.
R E P O R T .— For calendar years (1918 report in V . 109, p. 1178):
Dividends
Calendar
Year—
Cross
Income.
Expenses
Net
Taxes. Income.
Charges
(Net).
Balance.
Surplus
1 9 1 8 .......................$ 2 ,658,854
$ 1 ,4 9 2 ,5 5 6 $ 1 ,1 6 6 ,2 9 9 $685 ,96 2 $480 ,33 7
1 9 1 7 ...................... 2.1 3 4 .1 6 7
8 9 5 .6 .6
1,238.531 548,924
689.607
P R O P E R T Y .— The co. owns power plants with 67.2 1 0 h .p .; operate*
740 miles of high-tension transmission lines. 33 sub-stations and 2 .6 0 5 mil. s
of distributing lines. On April 24 1919 construction work was begun on a
new $ 2 ,5 0 0 ,0 0 0 power plant on the San Joaquin River, near Auberry, Cal.
The plant is expected to be completed within a year. V . 108. p. 1826.
Reservoir capacity, 5 1 ,0 0 0 acre feet. 90 miles of gas mains. Operates
10.51 miles street railway track in Bakersfield, supplemented b y auto
mobile bus lines in outlying territory.
O F F IC E R S . — Pres.. YV G . Kerckhorf: V .-P .s , A . C . Balch and Ben. R .
M eyer; V .-P . & Sec., L . M . Farnham; Treas. & C om p ., A . E . Peat; G en.
M g r ., A . G . W ishon.— V . 108 p . 685. 8 80, 1826, 2123, 2242, 2529' V 109,
p . 1178.
F R E S N O T R A C T I O N C O .— A trolley road.
In 1910 Southern Pacific assumed control and owns all the stock except
directors' shares.
O R G A N I Z A T I O N .— Incorp. in C al. Sept. 22 1903. Leases the Fresno
C ity R y.
Purchases power from San Joaquin Lt.
Power C o.
In D ec. 1916 the C al. R R . C om m . auth. the co. to sell $49,597 bonds for
exts (not lncl in amounts reported outstanding).
— In Sent. 1918 was auth. by the C alif. R R . C om m , to increase
fares from 5 to 6 cents and comm utation rates by 1 0 % .
V . 107, p. 1192.
STO C K A N D BON DS—
Date.
Interest. Outstanding. Maturity
tock $ 5 .0 0 0 ,0 0 0 ..( $ 1 0 0 ) ................................................. $5 .0 0 6 000 ----------- --------First mortgage, $5,009.0001 1904
5 J-J
69 9 .0 0 0 July 1 1944
1.000). gold_______ c n t f ) I n t . at Union Trust C o .. San Fran., Trustee
&
Fares.
8
gmds of LeasedCompany—
.
8
Fresno C ity Ry first m tgef 1902
g J-J
7 0 ,0 0 0 Jan
1 1922
$150 ,00 0 gold ($1,000) c * tflU n io n Trust C o .. San Francisco. Trustee.
Bonds.— Fresno Trac. 1st M bouds have a sinking fund commencing In
1909 of $2,500 per annum for fir»t 5 years and Increasing $2,500 per annum
for each 5-year period thereafter to $17,500 per annum from 1939 to 1943
Fresno City bond* have a sinking fund of $3,000 per annum for first two
years. $5,000 per annum for next five years and $7,500 per annum for
n e x t 10 years, which began Jan. 1 1905.
Bonds cannot be called.
In
terest payable in New York and San Francisco.
C O M B IN E D E A R N IN G S .— ln cl. Fresno C ity R y .:
Cal.
Years—
Gross
Earnings.
Net (after
Taxes).
Other
Income.
Interest,
Rentals. A c.
Balance.
Deficit
1918.......................$240 ,30 6
$17,438
$22,952
$ 109 ,99 0
$69,600
3 2.014
27 530
110.083
50.539
( 9 1 7 .................. .. 235.640
KO \ D .— Mileage operated (incl. 8 .14 miles leased from Fresno City Ky )
45.0 1 3 miles. Also owns 8,51 mile* of *lngle-track operated oy Southern
Pacific C o . Standard-gauge. 75-Ib. " T " rail
31 electric motor passenger
work cars;
trailers, and
electric locom otive.
O F F IC E R S .— Pres., YV. F. Herrin. San Francisco: V .- P .. Paul Shoup,
Sec. A A u d .. H . A . Oulloden, Loa Ange'es; Gen. M g r .. F . W . W ebster;
Fresno; T reas., M . S. W ad e, Los Angeles.— V . 78, p. 1222; V . 107, p. 1192.
3
[Vol. 109.
ELECTRIC RAILWAYS
46
2
1
G A D S D E N ,
A L A .
ALAB AM A C IT Y G A D SD E N & A T T A L L A R Y .
,
O R G A N I Z A T I O N .— Incorporated under a special charter from the State
• f Alabama
Operate*, beside* *treet railway, a light plant, an ice plant
and a coal yard.
ST O C K A N D BO N D S—
Date. Interest. Outstanding. Maturity,
M ortgt»ge° ’°$300,c2Sl * " gold J 1906
s V M -N *
* 2 9 8 .000 N o t ' Y j 1038
($1 000)
___________ t f llnterest at Trust C o . of A m e r.. N . Y . , Truat
Bonds — The" unissued bonds are reserved for further additions at 9 0 %
Of cost. 8uhject to call on any Interest date at 105 and Interest.
R O A D .— Operates 11 miles of track, connecting the points named in the
title. Standard gauge.
and 70-lb . T rail.
O F F IC E R S .— Pres., E .T . Schuler. Gadsden. A la .; V .-P re s.. G . H .
Schuler, Jacksonville, F la.— V . 8 3 . p. 817.
40
G A L V E S T O N ,
T E X A S .
O A L v F S T O N -H O U S 1 ON E L E C T R IC C O — A holding com pany.
O R G A N I Z A T I O N .— Incorp. In Maine on M ay 8 1907.
Controls
through ownership of stock the Galveston Electric C o . and the Houston
Elec C o. which companies do the entire electric railway and part of the
electric lighting and power business In Galveston and the entire ele trie
railway business In Houston.
Also owns stock of G alv.-H ou s. Elec Ry .
an lnternrban road between Galveston and H ouston, ;>0 tulles, and guar
antees It* bonds, p . I and s f.
exp.re in O a;vesion In 19M l In
H ouston, 1935. The interurban Is on private right-of-w ay. $o00.00()
com stock 1s owned bv Public Service Investment Co
— In Sept. 1918 the Houston Electric C o ., a subsidiary, was auth.
by the C ity Council to increase fares from 5 to 6 cents, the new rate to be
tpeivly temporary and to be terminated by the C ity Council any time it
sees fit.
At a ro/Vrondurn held in N o v . 1918, however, the ordinance
authorizing the co. to increase fares from 5 to 6 cents was defeated by a vote
o f 3 .160 to 2 .111.
V. 107, p. 1919. The co. thereupon filed a suit hold
ing that the C om m , had no auth. to delegate its rate-making powers to
the people and that the referendum election on the 6-cent fare ordinance
was therefore illegal.
In Feb. 1919 a decision adverse to the co. was
handed down and the 5-cent fare restored. V . 108, p. 683. This decision
was upheld by the Court of Civil Appeals at G alveston, T e x ., on M arch 20
1919.
V . 108, p. 1274.
, ,
In July 1919 tho newly installed C ity C om m , of G alveston. T e x ., repealed
the ordinance, auth. the Galveston Electric C o . to charge a 6-cent fare,
which had been enacted but recently. V . 109. p. 172.
In M arch 1919 issued $ 1 ,50 0 .0 0 0 3-year 7 % notes, proceeds to be applied
to the retirement of the entire floating debt and other requirements. V .
1 0 8 . p 1165.
STOCK AN D BONDS—
See text
M -S 15 $3 98 8 .0 0 0
Common $5,00 0 ,0 0 0 ( $ 1 0 0 ) -. . . . .
M -S 15
3.000 000
Sept. 19 3 %
Prt* $4 .0 0 0 .0 0 0 % cum ( $ 1 0 0 ) ____
M ay l 1940
5 g Vf-N 1.297 000
Ga.lv Electric 1st M $ 2 .5 0 0 .-[ 1905
0 00 gold ($1.0 0 0 )____ c*tf|Int. at Old Colony Tru*t C o .. Boston Trus1 tee. or at eom psnv'* agency In New York.
O aly-H oua HI R y 1st M $ $ .-! 1909
g A-O
2 .8 4 3 ,5 0 0
O ct 1 1954
g guar_____ c * * r t f / l n t . at Old Colony Tr <'o . Boev
Trustee
B o w klec Co Int M $3,500.-1 1900
5
F A
1.7 8 6 .0 0 0
Aug 1 1925
OOO r $1 060) *K fd
at Internal. Truat Co
Rost
Trustee
Gen m tge b o n d s _______________ 1919
7%
See text M ar 1 1922
Secured
notes
$3 ,0 0 0 ,0 0 0 ? 1919
7 g M -S
1 .5 0 0 .0 0 0 M ar 1 1922
($500 & $1,000) g ____ c * t f /T h e C o m m ’w’ th Trust C o ., B oston, trustee.
Franchises
Tares.
Date. Interest. Outstanding Last Die.Ac
8
000.000
6
ft
Stock.
Oaleeston Electric Co.— Of
— Pref. I* callable at 120 and accum . d ir .
*r« listed on Boeton Stock Exchange
Both pref. and com .
the bunds, $ 1 ,0 2 6 ,0 0 0 reserved for additions
and Impts. at 8 0 % of cost and 5177,000 have been canceled
of I 44% of bonds certified began July 1 1906. Callable as a whole or In
part for sinking fund on any Int. date at 110 and int. on 30 day*' notice.
9 e V . 81. p 975.
O f the remaining bonds. $ 2 8 ,0 0 0 are
held in trust for benefit of companv and $ 2 ,0 0 0 ,0 0 0 are reserved for
acquisition* and Improvements; $123 ,00 0 have been canceled
D enom .:
coupon. $500 and $1,000, registered. $1,000 and $5,0 0 0 . Subject to call
oxi any Interest day in whole, or in part for sinking fund, at 105 and Int.
of 1 % of bonds to 1944; thereafter 1 4 4 % .
First five pay
ment* waivable.
Bond* are guar., prin., Int. and sinking fund, by G a lv .Hou*. Elec C o
See V 00 p 607.
— Entire issue, but not any part, can be called on
any Int. date at 107)4 and int.
of 1 44 % of bonds^outstandlng, payable on Aug. 1 each year. See
74. p. 680. $714 ,00 0 of bonds
outstanding was held by this fund on June 30 1019.
— Are a lien on all the property o f the three operating
co s., subj. to underlying 1st m tge. bonds. $ 1 ,8 0 0 ,0 0 0 ; the entire outstand
ing amount are pledged under the 3-year 7 % notes.
— Are a direct obligation o f co. and are secured by pledge o f $ 1 ,
8 00,000 Gen. M tg e . 7 % bonds of the three operating ■companies. No
additional underlying 1st m tge. bonds m ay be issued while any of_the.se
notes are outstanding. Additional notes m ay be Issued only if each ^1 .000
note is secured by $ 1 ,2 0 0 , o f Gen. M tg e. bonds. Red. as a whole, any time,
on 30 days' notice at 102 and int. prior to M a r. 1 1920: at 101 and int.
thereafter to M a r. 1 1921. and at 10044 and int. thereafter to m aturity;
In t. payable in N . Y . and Chicago.
.
„„
.
D I V I D E N D S .— On common i , % s em ia n n . from Sept 1909 to and
lncl. M a r. 1912. amount then increased and paid 2 % in Sept. 1912
In
Mar. 1913 Increaaed to 2 4 4 % , In Sept, to 3 % and in Mar 1914 to
%:
Sept.. 3 1 4 % . In 1915. Mar . 3 H % . Sept, lfllftd lv . omitted (V 101 p 8 4 5 .)
E A R N I N G S — O f the combined companies for 12 mos ending Juno 30.
—
1919...............$2,924,018
$802 ,49 0
$378,815
- ................
$423,675
829.413
342.882
..................
4 8 6 ,531
1918_______ 2.385.354
H O A D .— Operates 162.6 miles single track; standard gauge; 262 passen
ger, 16 trailers and 37 other cars. Bower stations have capac. of 6.5 8 2 k.w .
O F F IC E R S .— Pres., Marshall M . Phinney; Sec., Geo. A . Peirce; T reas.,
Henry B . Sawyer; Gen. M g rs.. Stone & YVebster M g t . Assn.— V . 107, p .
1100, 1195, 1482; V. 108, p. 1165. 1274; V . 109, p . 172, 1079.
Asinkingfund
Galveston-Houston Electric Ry.—
Sinking fund
Houston Electric Co.
Sinkingfund
V.
notGen. Mtge. Bonds.
Notes.
314
Year
Gross. Net (aft. Taxes). Interest. SinkingFunds. Surplus.
G A R Y ,
I N D .
G A R Y S T R F E T R A IL W A Y C O R P O R A T IO N .
.
.
,
O R G A N I Z A T I O N .— Incorp. in Feb. 1918 In V a ., per reorganization plan
in V . 106, p . 1230. Owns the entire $ 365 ,00 0 common stock of the Gary
Street R y. (incorp. in Indiana. Sept. 26 1017), the operating com pany, suc
cessor to the Gary & Interurban R y . and East Chicago R y . C o ., sold at fore
closure Sept. 18 1917. Yr. 105, p .’ l3 0 9 .
—
— A contract dated Sept. 6
1917, as amended, provides that in consideration of $50,000 in cash, and
Its guaranty or the int. on the 20-year debentures for a period or five years
from Oct. 1 1917 (which guaranty is secured by deposit of $125,000 1st M .
bonds of the Calum et Electric C o ., being one-half of the present outstand
ing issue), the Calum et Electric C o. shall have an option for five years to
redeem or pay at par and int. all of said debentures and thereupon to re
ceive all or the common stock of the corporation. The Electric C o. is
further to have a renewal for five years of its contract for the furnishing
of power to tho properties, and. in the meantim e, will control the manage
m ent through a voting trust agreement under which all of the common
stock of the corporation Is to be deposited with three voting trustees, of
whom one shall be a representative of the old Gary & Interurban R y.
bondholders and the other two of the C alum et Electric C o.
In case the
Electric C o. shall not redeem all of the debentures on or before Oct 1 1922,
or In case it shall default on its guaranty of the payment of int. thereon,
then the common stock of the corporation shall be distributed ratably
among the bondholders of the voting trust certificates.
[The Calumet Electric C o. Is an Indiana corp. and secures all its elec
tric power from the Public Service C o. of Northern Illinois, selling and
distributing the same in the Ham m ond, YY’ hiting and Gary district'll
— In Aug. 1918 applied to the Ind. I’ . 8. C om m , for auth. to
charge a 6-cent fare in and between G arv, East Chicago and Hammond
and an 8-cent fare in certain other localities. V . 107. p. 8 02.
In Jan.
1919 tho C om m , denied ttlis application.
V. 108. p. 268.
Upon consummation of the reorganization plan, the following securities
will be outstanding (sanctioned by Ind. P. S. Com m ission);
S T O C K A N D B O N D S .—
Com m on $800,000 ($100). __ __
$800,000
Pref % non-cum $72,50 0 (1 1 0 0 )____
72.500
.—
Pref % non-cu $ 3 6 5 ,0 0 0 ($ 1 0 0 )......................... ............
365.000 ..................First M tge bonds $ 2 .5 0 0 .0 0 0 f 1917
5 g A -O
375.000 Oct 1 1 9 3 7
($100, $500 and $ 1 .0 0 0 )___ (Central Trust C o . of 111. and W m . T . A b b o tt,
( trustees.
Debentures $800 ,00 0
gold I 1917
5 g A -O
800.000 O ct 1 1 9 3 7
($100. $500 and $ 1 , 0 0 0 ) . . . /
— Preferred stock of both cos. Is limited to the auth. amounts
mentioned above.
Both Issues are red. as a whole at par on 30 days’ no
tice.
Dividends on the common stock of the Gary Street R y. C orp. of
Va. are limited by voting trust to $10,000 per annum.
— All the common stock (except directors’ shares) Is held
under a voting trust agreement for 5 years to O ct. 1 1922. Trustees are
M ortim er N . Buckner. Frank J. Baker and Charles YV. Chase.
— Remaining 1st M . bonds may be issued for additions, ext’ ns and
im pts. for not over 8 5 % of cash cost of same, and for repaving and track
renewals necessitated by public orders, for not more than 9 0 % of the cash
cost of same. Callable at 105.
— Int. on debs, is guar, during life of voting trust agreement
by endorsement by the Calum et Electric C o ., said guaranty being secured
by pledge of $125,000 of that c o .’s 1st M . bonds,
Red. at par and int.
on 30 days’ notice
The co. covenants, among other things, not to permit
any lien upon the property ahead or the debentures except the First M tg e..
and to expend or set asido annually for maintenance and to offset deprecia
tion 1 4 % of gross earnings— Divs. on com. stock of the
are restricted by voting
trust agreement to $
per annum.
—
30—
E A R N IN G S —
311918.
31 1917.
1916-17.
1015-16.
Gross earnings------ $385,579
$181,333
$318,171
$215,027
N e t. after taxes
01,012
42,954
4 1.417
27.669
R O A D .— Operates 22 milos In G ary and between Gary and H am m ond,
In d ., and a 10-mile line between Gary and Indiana Harbor, Ind.
O F F IC E R S .— Pres., Frank J. Baker, Chicago: V .-P .. C has. W . Chase,
G ary, Ind.; Sec., R. M . Scheldt. G arv, Ind.; T reas., L. E . W oodw ard,
G ary, Ind .— V . 108, p. 715. V . 107, p. 802; V . 108, p , 268.
Contract with Calumet Electric Co. Guaranty.
Fares.
Date.
Interest. Outstanding. Maturity.
Ga6
ry Street tig
6
Stock.
Voting Trust.
Bonds.
Debentures.
Dividends.
10,000
Yr. End.
Dec.
Corp.
6XIos. End.
Yrs. end. June
Dec.
A
OARY
V A L P A R A IS O R R .
,
O R G A N I Z A T I O N .— Incorporated In Indiana on N o v . 19 1917 with
authorized capital stock of $10,000 to operate the lines of the Gary Connect
ing Rys. and the Valparaiso & Northern R y ., which were sold under fore
closure Sept. 18 1917.
,
E A R N I N G S .— For year ending D oc. 31 1918. gross, $88,885 ; not. after
taxes. $3,140.
R O A D .— Extends from Chesterton through W oodvllle Jet. to Valparaiso.
12 miles, and from W oodville Jet. to Valparaiso. 16 miles (see a bove). Total
mileage operated 28 miles.
. .,
_
T _
O F F IC E R S .— Pros., Chas. W . Chase: See.. R . M . Scheldt; T reas., L . E .
W oodward; all o f G ary. In d .— V. 105, p. 2272; V . 106. p. 295.
•
G E N E V A ,
N .
Y .
O F.NEVA SE N E C A P A L L S A A U B U R N R A I L R O A D C O .. IN C .
O R G A N I Z A T I O N .— Incorp May
as *uooes*or or the Geneva A
Auburn Ry "old at foreclosure March 14 1913
Public Serv Commission
authorized the sale of $524,000 bonds at not less than 85
V 97 p 298
The Public Service Commission In M ay 1915 auth the Issue of $3< 150
6 % serial note* maturing within 6 year*, the proceeds to he u«ed for
additions, improvements. A c
,
The Public Serv. C om m , authorized the company to revise the schedule of
fares and put a new fare zone Into effect as of N ov. 1 1916. holding that the
com pany's revenues were not sufficient to yield a fair return on the property
Investment.
28 1913
Nov., 191'j .j
E L E C T R I C R A IL W A Y S
8 t S O»200A0 0 ° ®ONDS-
D“ “ -
»
" J
„
S
°
<>0........... | f ! t
lo r n * .
f
Ouutandlng.
M a t*,it,
j & 8 » Juiy i i943
&
S
B
47
w s s ia r s ,? •.•a-ssss-
\ r a r s i3 8
.outwi from M tktnoy O ltj to Sh«nand'>&Ji and purchased 2 <100 of the S onn
shares of the eapltal stock. On Jan 24 1901 leae-dthe
mll<v») for 9 9 9 years(Incorporated \ug 1 1900)
^
s f .s » .* s & a ssn?isa-„jj“
j®
Plan of Reorganization.— See Schuylkill R y. Co. above
■* $^i , 0 0a
s s a ^ g , /;p ; ^
0 ' ...........................
»
APsir,%
i h Sarcj t,' 7 q I , J * T. C o.. Trustee. Pbila.
5K 1893
4 g M -N
150 000 Nov 1 1993
$150.00#, g u a r d by
G I R A R D , PA.
Schuy
Ikill
T
r
a
c
tio
n
(
_ ru\\£OB* " I<JU,t- T>* T T
Philadelphia.
C L E V E LA N D & E RIE R A IL W A Y C O .
1901
4W g,
V ew cousol m t g e . e e c f _____
1991
105.000 July 1 1951
ORGANIZATION.— Incorporated In June lono
i«
» „
text
($1,000),
g—
c*/Int«reet
at
Fidelity
Fidelity Trust Co Phila.. Trustee.
neaut A Erl* Traction C o., sold at foreclosure
Owns ViiC<th^°It t0i ° OI1f Pow«-hou8V'mo“ ig a i» ::“ ^
bonds and laatxw the Conneaut & Erie Traction Ct of n h i ^ l f i 0? 411(1 inf^udx-— T he 1st M. boada of 1893 may be purchased for sink.'fund at
1.99 miles of track
Franchises are for 999 y ears '
° h ' Wh,ch ° " n8
***
p v annum b«?an April 1 lA9g
In Jon#
if
trustee brought soft for an accounting or net profit* from oparat'on
8 . S ° S A« T BOND3D“ “ '* “ "»•
'o -S S S ^ i" « * « .
<ucl?nart th'2-iSIf“ “ d*r thi?
a? d
for the payment or $ 1 0 .0 o« or
nart thereof as can be determined to be due. with interest for each
W ^ S a J R . 5 July
i'T Whlch.
neJ: pror1u
earned.mtge.
In‘ accordance
Income bonds $500,000 ($2501 1909
500 000 JnlV ?
Z . with t™e%iukrlfu12|
■ fhnd 190r>
provlnlons.
Auth.
amountw<w«
of consol,
wae $ 9 .
“ 0 **™>.............................lin t, at Fidelity Trust Oo. PhlU ^tn.Htee
b 2 S £ * ^ « a ^ ° i ? : h hm
H,OMd W“ h 5105.000 ou t. O f the out* “ aJinV
r L* l5 * tr* V ury- Subject to call at 105 and Interest
Bonds.— Remaining Tlrst mortgage bonds are reserved for extensions
1st M. Lakeside Ry, g,
S r * is- j £ s
s u
iw
j£
^ s i
sirutno fund o f 1% at bonds out became operative Aug 1 1907.
“
■ '“
■ '" “
i m
. N o i» s s .
EARN ING S.— For years ending Dec. 3 l:
(Irons
Net
Other
Int.,Taxes
D ew A Balance
r— Earnings Eaminas. Income. A Rentals.
Replace
Deficit
1918...........$161,509 $23,382
$1,328
$38,389
P
1917........... 145.606
31.744
1.120
38.752
........... $13,679
co
5.888
Pass carried during year end. Dec. 31 1918, 714.256; In '19*17'838 301
G L O V E R SV ILLE, N. Y .
_ 11UAD —<>»n» 31.29 miles of track
Uparatm Detweou Couneaiit ji'nrt
ErG
F
F
M
r
3
f
t
U
*6;
n
5
re
'w
'.h
8
»-no
6
other
cars.
d
elre2lc?o\dJS
e
N
*S*L(L
m ^ t&la
, a KRailway
t0 n C R SV
,VlfIndustrial”
E, R R - C OSection.
.-H team and
ctjwic roaa.— See statement
and
O F F IC E R S .— Pres.. O K. Wlllock. Pittsburgh V - P
H R
r i =k
Erie, Pa.; Treas.. J. R. McDonald. Erie, Pa.; Sec.. J. M 'Smith Olrar^'
Pa.; M gr.. J. M . Smith. Girard Pa.
amith. Girard.
G R A N D R A PID S, M IC H .
C O M M O N W E A L T H P O W E R . R A IL W A Y & L IG H T C O .
G IR A R D V IL L E , PA.
S C H U Y L K IL L R A IL W A Y CO
Reorganization Plan.— On Juno 10 1918 the following plan o f reorcanH,
lion was presented to the holders of the $640 000 1st Consol
Powell Evans, Phila who is the owner and holder personally o f a substan:
lial majority o f the Consol. 5% bonds and o f various amounts o f the other
Issues included in the plan. The plan is subject to the deH*loT, „>
otb«r
In the c o .’8 pending litigation concerning its obligation to nav Srhnitwii
f r ? c Co 1st M. 5s and the effect of an adverse S
thertln
p™ !
tailed outline of the plan see V. 107, p. 1920. The provisions
» r ?ir de*
<«) The lease of tfie Schuylkill County Ry. to re g a in In e f f e c t ''
m
v,1
iTuf
r
?
chuv
HI1
K
v'
Coto
Purfhase
from
me
the
entire
Schuylkill County Ry. Co. stock (which I own) sublcot n n l » t « t 2 issue
,ue of
of
pledge o f the stock as security for the income^bonds.1Tsee b e W primary
(r) Holders o f $640,000 Consol. 5% bonds to return to the ™ e„
(waiving their rights therein until this is done) 25% of their par rahie*^ 7
gether with all unpaid Interest. &c., said one-fourth o f said h,,nH« IUe’ *?*
i z w a a s 11ho,a,h" t
«•
t h ? plani* oua11-00 lQ v » to. p. IPS. i44#.
. 7MVn
n* amalgamating
F‘,b. 19 1910 to
carry pas
out
for
certain
eiectrie
railway emcerons^
enterprises in
In Michigan^
S
( r*mfjulight,
iZ tv, power
U *and, street
rauway
_____Mlchitfan.
•
Hi rough (jlitplf
stock nvwuwchltt
ownership *Via
the following companies
^
'T
■om
‘ W
,T" i1'’
o £----■
£ d /Vr
TVC
C oISaginaw-Bay City Railway Co.
Grend
Rapid*
Ry.
a Rapid*
Rv.
(Grand Rapid* Holland & Obic Ry
M ££fc ‘ul
co.
Springfield i O.) Lt . Ht. & Pow. Co.
UlafaHpus Railway Co.
lUnion
Railway. Gas & Electric Co.
Maoist** Railway Co.
,
d i?
constituent com ptnln had outstanding in hands of
OaP MaS ir & l-V S 0 b0ndJ and *>5.403.400 preferred stock.
*
iii b M b L l n u i J !
‘ -lulred (tbrough exeliauge of new stock
Rv Gm *
r ®8, pw
*h* oatstandiug capital stock of the Union
vJa t h / ? . ,
a*d th* RprlagfUld (O.) Llgbt Co (V 98 d 1298Y
“ t in
1^ a
a coal
e ^ mine
min! rInyrLogan
C o- C o..J^
1917
th rolqu
m ^ r Inter'
W.y V
a. purchased
V 105 n aflOfi
t •»tMP «„ im v
purchased coal land* In Illlnoli.
’ P' bU6‘ Later in 1917
take” * r ? o f th if$8*047 n^elL Un,lble' ,becau se" f “ bnorraal conditions, to
I n & K n d ^ l i r t o t l o I i l 'e S l l l y 0 £ l L “ \ , rS i S f | ty ^ n d 2 '7 < j ) ci S t ' “ ‘
Pri^ iP ^ L .
Existing Bonds {Consols Reduced as Aforesnirii
t
$760,000 underlying 1st & 2d M bonds on svstern
Interest.
375,000 Schuylkill County r “ C o 1st M bonds Pr° Per........... S;T3.025
4S0’000 75% o f outstanding $640,000 5% C o n s o f.'b S n d ii:::;: ^OOO
$1,615,000 Total bonds secured by Mtge
avtoi > .
. ~ —~—
$32,000 Existing Car Trust Certificate, prlndpaWwith^intaS^.*78,778
..
, due in installments ($4,000 semi-ann ) ( Uh lnterest>
for^ »
o ^ tto ^ ^ ^ T O ^ 1»llw jyiStem ^te“ •nt■
. a t e r s iii , i s . * x r s s M A s s y; K£ y'r ^J °v‘ b°uds
L s “asDta f,sinking
ir *
fund, but annually not less than *
required
2 s ,S P S K ?
w
» i 5 K i'” i™ A ( S S lrntj%
on_r.V-f ?orld,bo2d!„
$25 5-year
in cash,7%
representing
2‘u % " d ^ o J n t on
tbe new <L
bonds;
(6) $700aPd
in new
7^* bonds
bonds. sT?'
$17 50 (i\ cash, repre-
T r S f ” r s ¥ £ ‘ 9 > v sjsn s7 h s&
iL «
delivery of the new bonds was begun SeDt 23 191ft
v
iron refumipd. In M&r‘ 1919 We were ,nformtd ^
* « o ffb e cld'iss^e had
In June 1919 brought out an issue or $750,000 secured serial 6<P note
(e) The Schuylkill Ry. Co. to issue $~60fffinn'MLTJ>7,---- v — ---$5,000
$150,000 to retire Income
tU "
8T * ' sC
? ila '
"t e s t
3ecured conv bonds $8,°47,000f 1918
7 M -N
8 047 000 M a v i iq m
($50 $100, $500 & $ 1,000). {Bankers Trust Co. New York trustel92*
Secured serial notes $2,000,-1 1919
7 g M -N 1 9 nnn rox\ ’ tr,us, ee;
000($100,$500&$l,q00)g c*/D etroit Trust Co. DetreU Mich T n S t .
Secured serial notes $750.0001 1919
6 e J-D
17 ko'o o o o ' -riIAte*'
($100, $500 & $1,000) g I . c* / B rookl yn "D-usPCo., N w S
One-year secured notes g ......... 1918
7%
‘ 5.950.000 N ov 1I q i #
Scrip
: : : : : : : : : ............................. i .o m .soi Feb. 1 1 9 2 "
Stock.— Preferred stock is redeemable at 105 and accrued dividends 25
Bonds.— Bonds are secured by $11,249 000 com iinriTnf tii5ividends.
Power
Co. and are convertible into un equal am“ un[ or nrff I\£°LnSV“ ,r8
to me Tat 7^ I fa b o v e ? fora'll m ysaid d a 'i S . ^ g a ^ theVC t0 be SO,d T W with com.
stock in the amount of 30% of face valnon f
stock at oar.
bo subject to reduction as provided In clause r hereof th
pany- *nd to
Notes.— The soemwl coHoi a or
bands converted.
(h) Any net profits distributable after taxes lnti>pf>ct -i,
j
.w
•harges stated fii clauses d and / above ruainteiiancerC^ ChnrKe* »fnd otl/Sr
to be distributed to holders of fnoome'bonds on a r f e V ,i '„ a' C bccn Plid wntil they have received 6% (without anv arroar*
Percenta8? Dasla
prior to anv net profits being distributed to stockholders ° r cumuIatlTe>
(t) Provisions hereunder to apply to various i Z r i t u
a u
.
•ther than 1st and 2d M . prior liens and Car T r u i r f , “. c
d hi!r?In
of their last Interest or dividend periods prior to J a n l S o i R 1? . ^ 0™,
U) Upon consummation of all the provisions I and il|1SI2t,i ^ ccti ,reljrto release to the company all other interest held bv me in J ih im hereto are
and In every other cap acitv-leavin g^h e compa.®? on t h e 'b a 'K b ^ v e
described, with only nominal current obligations with the above
% « i ! K W X . rf7^
s s u s s r a s .r g i s
j , i X nu “ a s
19?8 dlviS L d
? „ l nd S
/ K
0' ' m l - Fcb’
Condensed Earnings Statement for Years ending Dec. 31.
1916.
Earnings on sub. company stocks__ $l}?7(f 818
$°'250 775
$2,866,667
Interest, &c., earnings______________
823|665
790.355
592.062
Gross earnings...................................$2,000,484
$3,041,130 $3,458,729
Deduct—
Expenses and taxes_______
* oiq ior
$189,924
$151,080
I n t e r e s t c h a r g e s _________
811 1 8 «
672,649
626.975
Amortization of debt discount...........
20 9 nn
28,932
28,932
Dividends on preferred s t o c k . . . ; ; ; ; I,077!l80
1.077.010
1.019.170
Balance for common stock divs '
1----8tor5i?<$40(L00() S
D8Z - ^
/nterM<*
replacement and depreciation.._’def$l26,277
$1,072,615 $1,632,572
Combined Earnings of Subsidiary Companies Year end. June 30.
y u T r ^ p ti M
S I iT m F o r e s t
Year—
Gross.
Net (aft Tax ) T n i % l
Surplus.
Income bonds......................... 1 9 1 3
5 J-J
lm n n n i .'„ 7
1918-19...$23,904,157 $8 118 577 S6 346?&i Pref. Dirs.
$695,247
Car Trust C e r t ific a t e s .-;::.: . . . .
.......
32’nnn J
1 1944
1 9P1R
7 -1
fi^ li.'ie s $1,077,180
flp8P...R T20.789:999
v
__mi, T o &. S' S S“
«iv*u,iuo
1,0/7.210
33/,210
B on d s.-O f tb« remaining first consol, bonds. $760.0<hi »re rwervwi'tc
retire tbe nndvrlyiiut Huns In statement below and *50 OOO are In treavnrv°
ates electric railways scrWmMOO citfra’and'tn" 1 C° mpt nn^ 4 ° 'v,rls and oper'
track;
revenue
nass
carr
?l
and
tovV
nsT
Wltb
903
miles
of
single
$ 4 000 semUannualfy. &t Par and interest- The Car Trust Ctfs. mature
electric light^n^p^'wer c X a n i e s ! e & ei ^ J^ le 3 0 >919' 103,465.405
«i?«A^ n .lI^KS,T Por y ^?T.£n? ,n* Jl!no 30 >016, gross, $265 402' net during the year ended Jmm 30 ^ 9 19^of* 4 4 7
J >Z; ’ 13•37'?
2 1 h.ydroHfl&BoP’d rf j l o S 9'
1
a
taXCS’ 5101 •440: misc- deductions; electric plants and 2 0 st.o,.n,
OFFICERS — PriM , Powell Evans, Phila.; Sec. A Treas., J. A McKee
Phila. Gen. M gr., W. S. Leib, Pottsville.— V. 107. p. 292; V. 108, p. 1 9 2 0 ! June 30 1919 of 3 m T i o n/J\* 10 citns, with sales during the year ei
n w o v D o *L123.112,900 cubic feet; miles of gas mains. 956.14.
ill Schuvlklll T raction C o.— A trolley road.
m 9 3 ° ^ n >RATION.— C hartered Sept. 26 1892, In perpetuity, under the B C C o b b Rfe c ^ T r J ^ V E v.H^ r? y: V : P s - c - M - Clark, Phila. and
Pearson
Jr Phila
Hekma; Asst. Sec. & Asst. Treas., C. A.
ioo^m
°nnn'ttrcb
1887. Road openbd June 1 1893. On
Jan. 0 1893 leased for 999 years the Mahanoy City Shenandoah Glrardvllle V. 108.
107- P- 905. 1090. U t t ;
! r ^o„b r r„ M „ s „
All assenting Consols, together with all stock (if any) held bv the denoaitors of Consols, to be deposited with the Commonwealth Title in «n r»n ?2*.
Trust Co. of Philadelphia, as depositary. V. 107 d 10M “ Insurance &
G R G A N IZA TIG N .-U icorporated in Pennsylvania on July 20 1903 and
purchased the property o f the Schuylkill Traction Co and the i , v J h.
Ry. Co. V. 80,p. 1729. Leases the Schuylkill County Ry. o 0
Lakeside
Fares. In July 1918 the Penn. P. S. Comm, sustained tii« PAmniaini
•f the Borough o f Ashland against the company’s Increase in f ires from
r o t e / V.n i07.npM29228 1917 ^
theC° to ^ ^ t h e S d W S S
*
<
— Schuylkill Traction Division. 2 2 « miles of track tw in nine .
d ^ « Sa v ao th,KM*' twrou,th Aehland. Holmesvllle to Glrardvllle °or"*ing
v. Y ’ 9“ * branch runulnc through Lost Creek to Shenandoah and thf
to MaiSeville, ollberton and M ahano/C ity
l ^ ^ i d e Dlv.
Z
S
L
Total. 28 miles. 80 and 70-lb. T ra il
Extemdont o f V i
S ^ a n d 0? 08**1 and <'h*ru’nl obtained. Operate* 61 motor cart 4 work
sara and 2 snow sweepers.— V. 80. p. 1729.
*
(^ n1, 4 worJt
E L E C T R IC
48
(1) M ichigan Railway.
ORGANIZATION.— Incorp. July 22 1909 as the Michigan A Chicago
R v. and on Mar. 21 1914 changed its name to Michigan R y. On Jan 1
1916 leased for 999 years the Mich. United Rys. (formwly leased to Mich.
United Traction C o.). Owns entire cap. stock o f the Michigan R R . Co.,
which leases the Grand Rapids Holland A Chicago Ry.
STOCK.— Has an auth. issue o f $6,000,000 com. stock, of which $4.392
000 is outstanding (all owned by the Commonwealth Pow. Ry. A Lt. C o.).
O r g a n i z a t i o n 1— Incorp. April 17 1919 in Michigan and acquired the
railway properties formerly owned by the Michigan Railway (for history see
'•Electric Railway” Section o f March 29 1919). Leases for 999 years from
Jan 1 1916 the Grand Rapids Holland A Chicago Ry.
.
Parcs — In April 1919 the Battle Creek City Comm, rescinded the 6-cent
fare which had been in offect for about a year and 5-cent fares have been
restored. V. 108, p. 1721.
8TOCK AN D BONDS—
Dale.
Interest. Outstanding.
Maturity.
Common stock $5,000,000--------s " V /v
a ’Ynn’nnn lW a V T iow
1st M bds $10,000,000 ($100, 11919
6 i M -N
v’^ v n i h T p fv w r
$.500 and $1,000) gold.c*.tf/E quitable Tr Co, N . Y .^ M ic h ^ f r . Co tr
General
mtge
^
total
of jiu.uuu.uuu,
$10 000 000
Bonds —
The$4,000,000
first mtge.gold
bonds1919
have an authorized
total or
•hu
In series bearing different rates o f interest, but not to
r^ eed
annum*11 In additfon to the $4,500,000 outstanding. $500,000
maj^btf issued^mder certain conditions; the remaining $5,000 000 may be
S S L tn fn n ttn exceed 75% o f actual and reasonable expenditures made
after M ay 1 1919 for additions, extensions, &c.. under certain restrictions.
Sinking fund will retire semi-annually. $50,000 o fJopnda o f this issue, either
by purchase in the open market or by redemption at 101 and int. A general
r e se ro fu n d is also provided under which the company must either expend
annualiyor ideposit In cash with the New York trustee an amount equal to
not less than 20% of its gross earnings, to be expended for maintenance,
repairs? replacements and renewals, for the purchase or retirement of bonds
o f this issue, or for extensions, enlargements and additions. Such expendi
tures for extensions, enlargements and additions shall not bo used as a
basis for the issuance o f bonds, except as the general reserve fund is reim
bursed to the extent of moneys used or wl th d r a w n wYm? th*
Dendituros. This fund is distinct from and has no connection with the
sinking fund
Callable at 101 and int. at any time on 45 days notice
lntk lis%fayable in*Nb lY at Tax-exempt in Michigan. The gen mtge ^s
junior in lien in every respect to the first mtge. V. 168. P. J022. The
$4,000,000 bonds of this issue shown as outstanding are pledged under the
Commonwealth Power Ry. & Lt. C o.’s serial notes of 1919.
R O A D __Owns and operates an Interurban electric railway 48.96 miles
lon” °ex“ endVng7romFl&T through 8 *«lu.w to Bay ^ity wfth branch to
Frankenmuth; one from Allegan to Battle Creek. 444)2
high-speed interurban line. 58.01 miles.
^2™, 9 m 4 . l]?
l
Kalamazoo. Construction on this line
!???• ,! i i 4RJLd
service was begun May 17 1915. Leases
Michigan United Rys.. 258.90
Jr and J . F Collin.: Sec.. J. W . OlendenlnK: Tree,., A. O .Brar nfrira.
Kalamazoo, Mich.— V. loY. p. 291. 697, 1004; V. 108, p. 1721. 1823. 2022.
(b; Michigan United R y s .-A third rail and troUey system. Leassd to
Michigan R y. Co. for 999 years from Jan. 1 19lb.
on<MaT^*>190^UMk^v^^tYH^Mictilgan TracUon^Co.^the^'ichlgan Traction
LTnH8 r
The
l
r
v
i
vu
&.
o? Jackson haST*^ths'r&h't^to purchase the Jackson Consolidated
i n ^ ^ t o t h lveCrfiaff l - ,cent fare d ^ i ^ n R a n w a y V ‘ 108, P‘ 2° 23'
Compare V. 108, p. 1721, under Michigan Railway.
STOCK AND BONDS—
Dote.
Interest, ^uumnding.
Common. $6.000,000 ($ 1 0 0 )-_ -----""w q
i nOft OOO
S©« text
Pref $1,000,000 ($100) 6% cu
1.000 000 M See t o t
M ichigan Trac Ext l i t nitgei
7
1903
®
ifflo o o ( « 1 , 0 0 0 ) | u a w
000) t o l d --. 7 4 J“ ) “ ,io<.0° .°r .loTdT,.lR
J*
» 0
1 00 4
l i S
vj y
Tm atee
w
"fi * M - N
U T r u
790.000 May 1 1934
. .
S o , YorK.
reserved Tor prior liens a n d i ? 7er gee also V. 87. p. 167. 285: V. 88.
S
pU lj4C37. t0Bonda*are?isted In London
V M
The Jackson Consol
Trac. Co. bonds are subject ^
Ringing fund of 5% of gross earnOn the Michigan Traction Cojxmd*
lat no(°to e‘ Ceed 110.
S s T r e ^ i n ^ i n k l n g fund on Aug. 31'1919 and are not included In
‘ *1The^Jacks?)n"Jt° Ba111e Creek bonds are subject to call In any amount
after 10 years at 105 and Interest. V 75 P 1t*tI hr idendi — 6% is bslng paid on
? ^ o „ ratelv
RE PO RT.— Earnings ars no onger
‘ grekk. Klk,atnazoo
ROAD.— Operatss allcity line. In - ^ J ^ ^ . B a t t l e Creek and Kala
and Lansing and Interurban lines be
Johns Lansing andOwosso
mazoo.
and
between
“ °.n
J^Y'^Volf
i L s . total ln
operated
260.93Opm
and
from
Jackson
to ^
Grass
Lake
and w on i.»a
fjov 1909
Through service between Ja c k n
'j
n11,*1 Rv lines under traffU
Z Z Z S f& S S S liS fiS & S X . v S e . , , 1m : V. 108. p. 2023.
&nu'p*„n.a g*S£t8S?JSS5&
Leased to Michigan RR. for 999 yoars fr°™
*0 —•■“ •
' \ 1^lu®. 1004 and Is a re-
r J S iW W
remainder on private:right, of way.
STOCK AND BONDS—
Date.
Interest. Oulsjandmg. Maturity.
Common $500,000.....................................................
s'JAsOO ...................
BpTrnfgef*Grand Canids' Hof ? 1966
J
i ' f
Bondi.— A sinking fund is provided of $5,000 per *°nn™ ^ . ^ s t 5 year
$10,000 per annum for second 5 years, $15,000 year1y for tbir<l 5 I
n/ifi n«r annum for fourth 5 vostro. Bondi trf not subject ^
^
^ H O A li.— O pw .t^ 76.48 m. of tr»clc fromOrwid1Rapid, ttiroufb•
•
s s
s s s ,1
t s s £ s r s u r i S 5 . ps ' » i S k S n o ^ 0
S
2 d ANp ^ W a 'r K « s w
i 'E
(which has since been merged with this company). the
$ f f l ss
Bockford (IUJ A
TntoruriVan Ry Co., the Peoria Light Co., and the Evansville Light Co..
Intoruroan y
1501- also all the stock and bonds of the Janesville
Jrwtinn Co ($125 000 stock. $50,000 bonds), and all the stock ($497,500)
rrfundlM &n<£ ($382,000) of the De Kalb-Bycamore St
T ^ t o flo On Dec. 11 1916 the stockholders voted to
dtaSlii ?hs E n v o i s Light Co?, which owned the entire IS.000,000 oom-
mon stock*aad*$Tfi0.OOoSthe preferred stock of th. Public Utilltls. Co.
[V o l . 109.
R A IL W A Y S
The latter was Incorp. in June 1912 and merged the Evarwvllle A Southera Ind Trac. (see -E lec. Ry. Sec.” of May 1912). Evansville Gas A Elec.
Lt Co and Evansv Pub. Serv Co. On Oct 14 1912 Circuit Judge Wi
liam Blakey sustained the demurrer of the Public Utilities Co in a suit
brought to dissolve the company, holding that the consolidation was Id ac
cordance with the statutes (V. 95, p. 1040). and In Dec 1912 he dismissed
the suit. V. 95. p. 1747. The Union Ry. Gas A Elec. Co. owns $2,100,000
• % cum. pref. and all the $5,000,000 com. stock of the Cent. Illinois Lt. Co.
(V. 99. p. 1132) which was Incorp. in April 1913. In March 1917 Cent.All.
Light <Yo. Increased its auth. cap. stock from $5,500,006 to $20,000,000. The
Ualon Ry., Gas A Elec, sub cos. own and operate street railway properties
la Springfield and Rockford. III., Evansville, Ind.. and Janesville. W k , and
Interurban line# from Roclrford to Freeport and Belvidere, 111., through
Beloit. Wle.. to Janeevllle. Win., from De Kalb to Sycamore. III., andTrom
KransTllle to Princeton and Patoka, Ind.; also gas, electric and steam
heating properties In Peoria, Springfield and Pekin. 111., and Evansville.
Ind.; electric light and power and steam heat in De Kalb and Sycamore,
111 and electric properties In numerous other cities and towns In Illinois.
.— In Dec. 1918 ticket fares on the Rockford A
Interurban Ry. wore increased to 2.6 per mile and cash fares to d cents
per mile. V. 107, p. 2477. In Sept. 1919 the same company was auth. by
the Illinois P. U. Comm, to charge a 6-cent faro in Rockford. V. 109, p.982.
The $3,000,000 5% notes due April 1 1919, were retired at maturity, and
the company Vissued/0in connection therewith $1,500,000 6% notes datod
Jan. 1 1919 and due Jau. 1 1922. V 108. P- 1391.
STOCK AND BONDS—
$6,000,000
See text
Common $6,000,000 ($100)-----------8 Q-J
5.250.000 Oct. T9 114
Q-J*
Pref $12.000,000cum ($100)— -----3
990.000
July
1 1938
J-J
Collateral trust mtge. goldf 1909
- - - . _ - „ hllo -r-,
($500 and $1,000) ....c*_tflC om m erc!al Trust Co.. Phlla nT r''«««^
Gold n o t e s .............................. 1919
6%
1.500.000 Jan 1 1922
.—
„ _
3.076.000 June 1 1933
Springfield RyALt coll tr M f 1903
$5,600,000 g ($1,000) c * _tf t Fidelity and Columbia Tr. ^.^Loulsv..trus^
Springfield Con Ry consol ( 1893
5* J D
7510,f^.0 ^ " . . L 1933
mtg $760.000g($ 1.000) c.tflO olum bU Trust C o.. Louisville. Trustee.
Rockford A Interurban Ry. Co.—
_
,
r
, ino<>
Rockford
Inter($500
Urban-f
1902 at
* tA
'P xNat.
r » n
l 15^
Conlst mtge.A gold
andilnterest
First
Bk
.N 0^
. Y 0..o r at
atC
on
$1,600) $3,000,000-C*_ntf I ttnen. A Com. T r. A Sav Bk., Ohic..trus.
543.000
May
1.1923
Rockford A Freeport first | 1903 _ 6 g M ;N
$760,000. gold.
gu| Int. at Con A Com. Tr. A Sav. Bk.. Chicago
mtge. $760,000.
*
p A 1 ( $».0OOA$500)c*..ntf
1 --------Trustee.
QBel A Janesville 1st f 1905 ' * g A-O
976,(HM) Oct 11930
mtge g ($1,000) ■ f --C*_tf( Int. at Cont. * Com. Tr. A Sav. Bk^ Chic..
Trustee, or First Nat. Bank. New York.
D e K tlb -Syca m o re A Interurban Trac. Co.—
. „„„
, non
De Kalb-Sycamore Electric I 1907
J-D ^
6.000
1922
first mortgage________ n tf lin t, at Cont. A Com. T r. A 8 . Bk., C hic.. Tr
C e n t r a l I l l i n o i s L i g h t C o .—
„„„ _
,
Peoria
A Elec. Co. 1st
1903 58 J-J
2.5()0.000
Jan 11923
•aria Gas Jt
1st M. I
f 1903
2.500.000 Jan
1 1
$ 3 .6 0 0 .0 0 0 f ($1,000) .c * tf (Banken Trust C o.. New York Trustee,
$2.1
eat 111 Lt 1st A ref M $15.-1 1913 5 « A-O
4.410^000 April 1 1943
Gent
---------- ($100.
------- $500.
1
Bankers Trust C o.. New York, Trustee.
000.000
000) ..................
----- c*l
Sub. Co. Fare Increase
Date. Interest. Outstanding. Maturity.
Springfield Ry. A Light Co
T u b lic
i sJ'P
U tilitie s C o .—
Public Utilities Co 1st A Ref ( 1919 6 g J-J
3,000.000 Jan 1 1929
Mtge $15,000,000 ($100.(Bankers Trust C o.. N . Y ., Trustee.
$500 A $1,000) g o ld ...c * t f l
„„„„„ , ,
„„
6 J-J
2,527 300 July 19, 3%
Puh Util pref $j.(All).iMHJ c u m . ___
Evansville El Ry 1st mtgel 1901 4 f M-N
1,200.000 May 1 1921
$1,200,000 g ($1,000) - c ‘ tflIn t. at Farmers’ L. A Tr Do.. N. Y. timstew
Evansv A Prince 1st mtge| 1963
5 c A-O
280.000 April 1 1923
$400,000 gold($l,000)s4nk-( Int. at Olt. Sav. A Tr. C o.. Cleve. Trustee.
lng fund__ _______ cAr tf l or at First National Bank New York.
Evansv Gas A El Lt 1st A raff 1902
6 J-D
1.180.000 June 1 1932
mortgage $1,250,000 gold! Int. at Cont. A Com. Tr & Sav. Bk.. Chic.,
($1.000).....................c* .tfl Trustee, or at First Nat. Bk.. New York.
Stock.— Pref. stock is subject to call at 105 and accrued dividends.
Bonds.— The Union Ry., Gas A Klee. coll, trust rntge. Is secured by de
posit of practically all stocks (com A pref.) of subsidiary cos. Additional
bonds may be Issued only under rigid restrictions (V HU p 228). Interest
Is payable at Hodenpyl. Hardy A C o .. N Y . , a n d E . W <Mark A C o .. Phlla.
Bond* redeemable at par A Int. on 60 days' notice. They are convertible
Into pref. stock at par. V. 89. p. 226: v. 93. p. 628. The 3-year notes
are secured hv bond* of the U Ry O A K Co ind underlying companies,
aggregating $2,250,000. Interest payable at office or agency of company
ln New York. Banken Trust C o.. N. Y ., trustee. Additional notes may
be Issued with certain restrictions. See V. 102, p. 1541.
.
Springfield Railway <ft Light Securities.— Of the Springfield Railway A
Light collateral tru*t mortgage of 1903. $75,000 are referred for addi
tions and Improrements to constituent companies and $750,000 for prior
linns. The bond* are subject to call on 60 days' notice at 107 U and
int. Interest I* payable at Columbia Trust Co.. Louisville, and at llodenpyl. Hardy A Co.. Inc., N Y . and E W. Clark A C o.. Phlla. lut on
Springfield Consol Ry. bond* Is payable at Fidelity and Columbia Trust
cos.. Louisville, and at Hodenpyl, Hardy A C o., Inc.. N. Y
R o c k fo r d A
I n t e r u r b a n R y . S e c u r i t i e s . — Sinking f u n d o n Rockford A
Inter-Urban bond* of 5% of gross receipt* commenced in 1908 $356.
666 of bond* In add'n to those reported outstanding above are held In the
sluk. fd. Add'l bond* can be Issued for extensions and Improvements at
85% of cost. The entire issue is subject to call at 105 aud luterest
The
Rockford A Freeport bond* are atisumed prin A int... by the Rockford A
inter-Urban Railway Co. $82,000 are held In sink fund. A sinking fund
equal to 5% of gross earning* began in 1910
Bond* are subject to call
at l6.5 and Interest. V 78. p 1276
A s i n k i n g f u n d on the Rockford
Beloit A Janesville bond* began In 1915 of 2% of gross earning* of that
division. They are subject to call at 102 H and Interest The* are guar
anteed, p. A I , by the Rookf. A Inter-Urban *24.000 In g. f. Scspt. 1 1919.
D e K a l b - S y c a m o r e E l e c t r i c . . $125,000 ln sinking fund.
C e n t r a l I l l i n o i s L ig h t C o S e c u r i t i e s . — Peoria Ga* A Electric bonds are sub
ject to call at 105 and Int. Int. thareon Is payable at Hodenpyl. Hardy A
Oo.. Inc.. N Y. Smtfno fund of 6 % of gross earning* began Jan 1 1010Sfnkina fond mav be used by company for .ddl'tiu - •>> orup.>rty against
which no bonds have boon Issued. Central Illinois Light bonds are rod. at
105 and accrued int. on 60 days’ notice. Of the remaining b mds $2,500,000
are reserved to retire Peoria Gas A Electric 1st M . 5s, while remainder are
reserved for acquisition of new property, additions, irnpts., A c., under cer
tain restrictions (V. 99. p. 1132). S i n k i n g f u n d of
of 1% n. a. bogan
April 1 1917 of total amount of bonds of this issue outstanding and all
underlying Issues for the purchase of these bonds (or call at 105) or for ac
quisitions, im pts..’ Ac. V. 99, p. 1132.
P u b l i c U t i l i t i e s C o . S e c u r i t i e s . — $2,660,000 1st A Ref. M . bonds are
reserved to retire a like amount of underlying bonds. Additional bonds
mav be issued In series, at different rates of Interest not exceeding 6 % per
annum, to reimburse the co. for 75% of cost of add ns ext s. A c., under
certain restrictions. A general reserve fund Is provided for under which
the co must expend or deposit In this fund in each cal. year beginning
1919 an amount, equivalent to 20% of gross earnings derived from the
railway properties. 15% from the electric light and power, and 12% from
the gas and steam heating properties and of all other Income, to be expended
for maintenance, renewals, ext’s. A c., and the purchase and cancellation
o f bonds of this Issue or underlying bonds. Rea. at 102 and Int. on any
Int. date to and Incl. Jan. 1 1924 and thereafter at 101 and Int. V. 108.
n 269 379 The Evansville Oas A Eloctric Light Co. must call at 105
and2 int. $10,000 annually on June 1 1913 to 1922 Inclusive, nnd $15,000
on June 1 1923 to 1932 inclusive: $70,000 have been retired. They are
subject to call at 105 and Interest. The Evansville A Princeton first 5s
have a s i n k i n g f u n d of $10,000 per annum which began Feb. 1 1908 said
fund to be invested in the bonus at 105, beginning with No. I. $70,000
have been redeemed. Whole issue of these bonds may be called at any
time at 110 and Int. L. W. Prior or Cleveland Is co-trustee of this mortgage.
Evansville Elec. R y. bonds cannot be called.
Ditidends.— First dlv.. I ^ . on pref paid Oct. 1909 and same amount
auar. sine* to and Including Oct. 1919
First dlv on ooin.— 1% — paid
April 1 1918; July 1 . 1 %; Oct.. 1 %. In 1914. Jan.. 1%
Com. Pow. Ry.
A Lt Oo. owns practically all the stock and dlvs. no longer made public.
EARNINGS.— For calendar years:
, Q„ ,
12 Afo5 —
O ross.
O per. R i p .
N e t.
F ix e d C h q s. B a l., S u r.
1918
$1,753,398
$532,865
1.6241612
839.873
5.758.378 $4,259,057
3.291.893 $2,286,263
‘2!464!485
‘‘
1917I"........ $6,515,321
NOV., 19 9.J
E L E C T R I C R A IL W A Y S
49
SALES.— Cal. year 1918, 1,989,784,000 cu. ft. Miles o f mains, 537.
ROAD.— Rockford A Interurba,n operates 36.28 ra. of trolley In Rock
ford. 15 miles between Rockford and Boividere; also 30 miles between Rock
OFFICERS.— Pres., B. O. Cobb, N . Y .; V.-Ps., W . H. Barthold and
ford and Freeport, and 35 miles between Rockford, 111., and Beloit and T . A . Kenney; Sec., F. G. Sutherland; Treas., A . fi. Simoneau.— V. 102,
Janesville, Wis.: also a 6.39-mlle extension to Camp Grant. Total, p. 613, 890; V. 106, p. 402, 1039; V. 108, p. 84.
123.07 miles. Springfield Gas & Elec. Co. operates 43.94 miles in Spring
field. Janesville Traction Co. operates 6.52 miles in Janesville, Wis., and
(7) Consumers' Power Co.
De Kalb-Sycamore & Interurban Traction, 8 miles, connection De Kalb and
AU the coum uo stock is owned by Oom. Pow.. R y. A L t. Co.
Sycamore, 111. Public Utilities Co. operaces about 69 miles in Evansville
ORGANIZATION.— Iacorp. In Mains la 1910. and In Nov. 1914 merged
;and between Evansville, Princeton and Patoka, Ind.
the following 11 companies (previously controlled by stock ownership)
OFFICERS.— Pres., G. E. Hardy; V.-Ps., O. M . Clark and B. C. Cobb; Common w. Power C o ..Grand Raplds-Muskagon Pownr Co.. Grand Rapids
•Sec. & Treas.. Jacob Hekma. New York.— V. 104, p. 2343; V. 106, p. 608; Edison Co. Flint Elec. Oo.. Saginaw Power Oo.. Bay Olfcj Power Co..
V. 108, p. 1391.
Pontiac Power Oo , Ooasemsrt’ Power Oo. (Mich.), Economy Power Co..
(3) Springfield (O.) Light, Heat & Power Co.
An Sable Elertrlc Oo aad Central Power Oo.
Practically entire Com. stock is owned by Com. Pow., Ry. A Lt Co.
This merger made tho Consumers' Power Co. (of Maine) an operating
ORGANIZATION.— Incorporated in Ohio in Sept. 1908.
Franchises company Instead of a holding company and on July 20 1915 it was granted
a certificate of authority to do business in Michigan. V. 99. p. 1528, 1597;
•extend beyond maturity of bonds.
V. 101, p. 369. At the same time the RR. Comm, approved the then
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity. outstanding issues of common and preferred stocks and 1st lien and ref.
•Common stock ($1,000.000)......................... ........
$1,000,000 __________ 5% bonds and authorized the company to Issue additional bonds from time
Preferred stock ($1,000.000).................................
493,700 ................... to time upon procurement or retirement of the underlying bonds shown In
Spring Lt, i l k P gen A ref M f 1913
U -O
730.000 April 1 1933
V. 101. p. 369.
, ,
„
$5,000,000 ($1,000). Red{ Int. at N. Y. and London. Mich. Truet theIntable.
Jan. 1916 acquired the Cadillac Water A Lt. Co. and the electric
at 105 and interest..c*ntf l Co., Grand Rapids. Trustee.
property of the Manistee Power A Light Co.
Springfield Light. Heat * [ 1909
5 F-A
642.000 Feb 1 1929
In Aug. 1917 the authorized capital stock was Increased from $12,000,000
Power first mortgage... t f lint, at State 8ar. Bk. A Tr.O o..O ol..O ., Tr. common and $10,000,000 preferred to $20,000,000 of each class.
Bond*.— Sufficient gen. and ref. bonds are reserved to retire at or before
In Dec. 1918 the co. called for redemption on Jan. 17 1919 at 1004$ and
maturity the outstanding 1st M bonds. Remainder for extensions, en- Int. the $4,000,000 2-yr. 0% secured notes, due July 1 1919; the $5,334,000
Qargements and additions at 85% of cost with oertain restrictions. See 1st lien A ref. bonds pledged thereunder being offered for sale. V. 107.
V . 102. p 135$. $108,000 first mortgage bonds In sinking fund.
p. 2379.
EARNINGS.— Year ending Dec. 31:
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
12 M os.— Gross.
Oper. Exp.
Net.
Chgs. A Tax. Surplus. Common $20,000,000 ($100)................................. $11,250,000
$365,369
$246,507
$115,356
$131,151
1918............. $611,876
Pref $2 0 ,0 0 0 ,0 0 0 ($ 1 0 0 ) 6 % c u m -----Q-J
10.098.900 Oct *19,1^
1 9 1 7 " : : : . : 499!542
343.959
, 122.162
98.637
56|946 1st lien and ref M . $35,000, 1911
____
5 g_ J J
22,254.000 Jan. 1 193.
—V. 100. p. 1923; V. 102. p. 6l4. 810. 1352; V. 106. p. 403.
000, gold ($1.000)------c*tf Int. at Harris Tr. A Sav. Bk.. Chicago.
Trustee, or Harris, Forbes A Co., N . Y .
(4) Grand Rapids Ry.— Trolley.
5 J-D
1.078 000 Dec 1 1924
AH tho common and $500,000 pref. stock and the $1,200,000 gen. A Comm Pow 1st M, $4,000. 1904
ref. mtgo. 6% bonds are owned by Com. Pow., Ry. & Light Co.
0 0 0 g sink fd ($1.000).«*tf lat. at First Trust A 6av Bk.. Chic. Trustee
5 M-8
549,000 Mar 1 1931
ORGANIZATION, AO.— Iacorp. In Michigan In April 1900 as a suc Grd Rap-Musk Pow 1st M 1906
$7,500,000. gold............ tf lot. at 1st Tr.AS.B., Chic or istN B.JM.Y
cessor company to the Consolidated St. Ry. Owns and operates the satire
■ I. W
___________________
5 M-S
132 000 Sept 1 1925
A Lt 1st M .$**).- 1905
street railway system of Grand Rapids and vicinity. Franchises expire in Cadillac
000 ($500 A $1.000). .e*tf I Int. at Mich. Tr. Co.. Grd Rap.. Trustee
1921 and In 1929.
Stock.— Pref. stack Vs red. oa aad after Jan. 1 1920 at 105 and aocr. dlv.
Fares.— On June 3 1918 appUed to the City Commission for authority
Bonds.— Of 1st A ref. boads. sufnedeat are reserved to retire underlying
*o Increase fares from 5 cents to 6 cents, and In 8ept. 1918 this petition
was supplemented by a request for a 7-cent fare. On Dec. 4 1918 the co. bonds, and remainder Is reserved under certain restrictions for extensions
was auth. by the Comm, to charge 6 cents. V. 107, p. 2289. See also aad add'ns at 60% of ooat. SubJ. to call any lat. day at 105 A Int. Sink,
fund of 1% p. a. of boads out becaa Jan. 1 1915. V. 92. p. 465. 520. 1453.
In May 1919 issued $2,500,000 1st M . 6% bonds In connection with the Up to Sept. 1 1919 no boads were held In sinking fund.
refunding of an issue of $3,700,000 1st M . 5s due June 1 1919. V.108.P.2122.
Dividends on pref. have beaa paid regularly since organization.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity
EARNINGS.— For 12 mos. ending June 30:
Year—
Oross. Exp.ATaxes.
Net.
Charges. Bal.. Surp.
Stock com $2,000,000 $100).................................
$2,000,000
Sae tsxt
1918-19...............$7,451,957 $47544,237 $2,907,720 $1,564,566 $1,442,154
Pref $2.000.000cum 5 % ($100)
- - - - Q-F
2.000.000 NovT8. I k
First mortgage $4,500.000(
1919 6 g J-D
2,500,000 June 1 1924 1917-18.............. 6,072,647 3,507,139 2.565,508 1,125,261 1,440,247
$500 and $1,000) g...........c*jMlchigan Trust Co., Grand Rapids, and
PROPERTY.— Owas aad operates stectric light and power proper
( Bankers Trust Co., N. Y ., Trustee
ties In Grand Rapids, Kalamazoo. Jackson. Flint, Saginaw. Bay City.
Gen MtgeSl ,200,000 g.................. 1919 g 6%
$1,200,000 June 1 1924
Battle Creek. Muskegon, Cadillac. Owuano, Manistee. Marshall.
Bonds.— Of the remaining 1st mtge. bonds $1,200,000 may bo issued Pontiac.
Albion. Charlotte, Grand Ledge, Allegan, and a number of Intermediate
against the present property under certain conditions and $800,000 may cities
towns. Hydro-electric plants have about 101.000 h. p and steam
bo issued for 75% of the cost of permanent extensions, Ac., under certain plantsand
103.000 b. p. capacity. Total generating capacity about
restrictions. Red. as a whole at 101 and int. on 4 woeks’ notice. Int. 204.000about
h.
p.
payable in N. Y. City or Grand Rapids, Mich. Tax-exempt in Michigan
OFFICERS.— Pres., B. O. Cobb. New York: V.-P.. E. W. Clark. Phila.!
V. 108, p. 2122.
The gen. mtge. bonds are all pledged as security for the $750,000 secured V.-P., Geo. E. Hardy. N. Y .; Treas. A Sec., Jacob Hekma. N. Y .— V. 104,
p. 2552; V. 105, p. 610, 1100, 1208: V, 106. p. 399; V. 107, p. 699, 2379.
serial 6% notes of tho Commonwealth Power Ry. & Lt. Co. V. 108 p 2433
Dividends.— 5% was regularly paid on pref. stock to and lncl. Nov.' 1918'
(8) M anistee Railway C o.
REPORT.— For years ending Dec. 31:
Incorp. In Mich. In March 1913. Successor to Manistee Lt. A Trac.
Year—
Gross.
Net (aft. Tax.). Charges.
Pref.Die.
Surplus
Co.,
sold at foreclosurs in 1912. The Manistee Pow. A Lt. Co. then took
1918......... $1,278,348
$257,861
$233,087
$100,000 def $75 226 over the
and electric properties but in Jan. 1916 these were respectively
1917......... 1.303,860
393,684
218,215
100 000
75 469 acquired gas
by the Michigan Light Co. and the Consumers' Power Co.
KOAl), AO —2a.48 miles double and 10 5 I miles single rrack: total slu'vi.
the street railway business In Manistee and Filer City. Franchise
track equivalent, 67.45 miles. 155 passenger, 15 trailers and 23 misc’ *0 Does
rears from 1904.
and service cars. 2 pleasure parks, Ac. Power Is obtained from Consumers
Fare Increase.— In May 1918 fares were Increased to 10 cents, with
Power Co. under satisfactory long-time contract.
commutation tickets at 3 for 25 cents and 7 for 50 cents.
OFFICERS.— Pro
nd Gen Mgr . B. S Kanchett; V.-P.. B. O. Cobb
Stock.—The company's entire $100,000 capital stock and $60,000 1st
flee. & Treas., L. .1. Do Lamarter. Office, Grand Rapids. M ic h __V 106 mtge.
5s. due 1943. are owned by the Com. Pow., Ry. A Light Co.
p. 395, 499; V. 107, p. 2289; V. 108, p. 2122, 2433; V. 109. p. 887.
ROAD.— Operates 7.41 miles of track. Gauge 4 ft. 8H In. 35 to 100
<6> Saginaw-Bay City Railway Co.
b. T and 85-lb. girder rails. Operates a 50-acre park on Lake Michigan.
Entire stock (except directors' shares) Is owned by Oom.Pow-.Ry.ALt.Co
OFFICERS.— Pres., C. J. Holmes; V.-P ., W . H. Barthold; Sec., J. W .
OROAN1ZA.TI°1N.— TtiLi company Is a consolidation of the 8agina» Glendenning; Treas., A. J. Bray.— V. 88, p. 158; V. 106, p. 2229.
Valiev Traction Co. and railway dept, of the Bay Olty Traction A Elec Oo
Fare Increase.— In July 1918 was authorized to charge a 6-cent fare
in Saginaw, this franchise, however, was revocable and in April 1919 the
UNITED LIGHT & RAI LWAYS CO.— (See Map. page 50 )
people of Saginaw voted it down. V. 108, p. 1276.
ORGANIZATION.— Incorporated In Maine In July 1910, per plan In
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
V. 91, p. 90. Own* over 98% of the common stocks, over 22 4$% of the
Stock. $2,600.000___________ Ail owned by Commonw Pr Ry. & Lt. Co
pref. stocks and over 29%
of bonds and notes of the following companies:
iV /O <
First and refunding mortgage! 1910
5 M-S
$1,559,000 Mar 1 1935 Cadillac (Mich.) Gas Light Oo.
La Porte (Ind.) Gas A Elec Co.
$5,000,000 ($ 1.000)
(Michigan Trust Co., Grand Rapids. Trustee
Chattanooga (Tenn.) Gas Oo.
Mason City A Clear Lake (la .) R R .
Saginaw Val Tr 1st M. $850.-1 1899
5 * F-A
610 000 Feb 11920 Cedar Rapids (la.) Gas Co.
Ottumwa (la.) Gas Co.
000. a ($1,000 each) _c*ntf lint. at Boston Safe Dep. A Tr. Go.. Trustee Cedar Rapids A Marion City Ry. Co. People's Gas A Elec. C o.. Mason O 'y.
Bonds.— Of the 1st A ref. bonds. $850,000 are reserved to retire Sag. Val
Fort Dodge (la.) Gas A Electric Co. Trl-Clty Railway A Light Co.
Trac bonds; remainder for 85% of cast of additions, Ac. Red on any Int
Grand Rapids Grand Haven A Mus
date on 60 days' notice at 105 and Int. Int. at Hodenpyl. Hardy A Oo.
kegon (Mich.) Ry. Oo
New York
The Grand Rapids-Grand Haven A Muskegon Ry. was acquired in Jan
A sinking fund of $8,500 per annum on Sag. Val. Trac. bonds begins Feb. 1 1912: V. 94. p. 209. The Tri-City Ry. A Light Co. was taken over in June
1907 and runs for 6 years, arter which $17,000 per annum Is payable, said 1912; V. 94. p. 769. The Cedar Rapids A Marion City Ry. Co. was
fund to be Invested in the bonds at not above 107k and Int. Sinking fund acquired In July 1912.
held on Sept. 1 1919 $234,000 of bonds.
In Feb 1913 purchased the People's Gas A Electric Co. and the Mason
ROAD.— Operates about 64 miles of street railway track In Saginaw and Olty A Clear Lake RR
In 1913 also acquired the Iowa A Illinois Ry
Bay City (ncl. Interurban line between the two citlea.
and the Iowa A 111. Ry. Term. C o., but In Jan. 1916 these two cos. were
OFFICERS.— Pres B. O. Cobb; V.-Ps., H. T. Wlckes. J E. Davidsoa consolidated with the Davenport A Muscatine Ry. (forming the CUuton
and J. A. Cleveland: See.. J. W . Glendentng: Treas.. A. J. Bray: Asst. Sec. Davenport A Muscatine Ry.) under the management of the Tri-City Ry
A Asst. Treas., S. E. Wolff.— V. 95, p. 481; V. 107. p. 502; V. 108, p. 1276. A Light Oo.
’
(6) Michigan Light Co.
OPERATIONS.— Doe* entire gas business In Davenport. Cedar Rapids
All the common stock la now owned by Com. Pow.. Ry. A Light Oo.
(supplying also suburb* of Marion and Kenwood Park and Intervening
ORGANIZATION.— Incorp. In Mich. In 1914 and took over and con territory). Ft. Dodge Iowa City. Mason City. Bettendorf, Ottumwa and
Muscatine. la ; Cadillac Mich U Porte, Ind.. Rock Island Moline.
solidated the following companies;
East Moline. Milan, Silvia and Watertown. 111.; and Chattani>oga Tenn •
Jackson Gas Co..
IFlint Gas Oo..
IBar Olty Gas Oo.
entire electric-light and power business In Davenport. Ft Dodg'e Iowa
Pontiac Light Vo.,
ISaginaw City Gas Oo.. Iltalamaioo Gas Oo
City. Mason City and Muscatine. Ia.; Rock Island. Moline and East
As of Jan. 1 1910 acquired gas property of the Manistee Pow. A Lt Oo
Moline. 111., and La Porte. Ind. Has hot water and steam-hearlns system
Does entire gas business in Jackson, Saginaw, Kalamazoo, Bay City
Flint Pontiac, Manistee, Birmingham and Royal Oak. Mich.
’ In Davenport and Mason City, la., and La Porte. Ind. Oprrate* street
in Feb 1910 Issued $1,125,000 1st A ref. VI bonds to retire $857,000 raUways In Cedar Rapids, Marion. Mason Olty. Muscatine and Davenport
Saginaw Olty Gas Oo bon>ls due May 1 1016 and to reimburse t.he eo In la., and Rock Island, Moltns and East Moline. III.; Interurban railways
part for permanent oxts.. Ac., made. In Dec. 1918 an additional $700 000 are operated between Cedar Rapids and Marion, la. Mason City and
Clear Lake, la.; Davenport and Clinton, la ; Davenport and Muscatine
of these bonds was Issued. V. 108, p. 84.
la.: Davenport la. and Rock Island. Moltne and East Moline 111 Grand
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common stock--------------. . . ---- . . .
--------- . . . $3,175,900
' Rapids Grand Haven and Muskegon. Mich. In all. 65 communities with
V £ ? pul“ 7',?J,,> C8t,ra*t*!d
,575.000 are served. Franchises expire rrom
Profsrrod <5%
7# cum
*
ulative.....
Q-J
2.753 700 Oct '19* I k
1 st A ref M guid ($1,000. rr19.18 m® M '9,
2.582.000 Mar 1 1946 1 9 3 2 10 1960: approtlm* toly 73% ar® Indeterminate or extend beyond
$500 and $100).............. c* Union Trust Oo., Detroit Trustee
II)'500',000 8% ? ond Oecmtxl Gold Notes, series
Bay City Gas 1st M . $500,000 1900 5 g J-D
367.500 June 1 1920 ••a1" A '
m a t u r i n g
Jan. 1 1918 and to reimburse
g ($500 A $1.000)----- c*tf (Interest at New York Trust Oo. Trustee ♦
the treasury Tor additions extensions and Improvements. V 1 0 5 n 2 1 8 5
Flint Gas Oo 1st M . $500,000 1904
5 U -N
4M ,500 Nov 11924
m Aug. 1918 Issued $1 250.000 7% series “ B " n o t is t o provide for or
($500 A $1.000)___ c*ntf
H lc.h „Tr' ° ° "
Rap., Trustee
reimburse the co. for additions, extensions and impts., or for acquisition
Jackson Gas Co mtge. $350, 1897
5 A-O
$40,000 April 1 1937 of
new property. V. 107. p. 605.
0 0 0 gold ($1.000)__ e*ntf Illinois Trust A Sav. Bank OhlV.P Trustee
,lS8Ue.cl *500,000 1st A ref. mtge. 5% bonds, proceeds o f
Kal Gas Oo 1st M. $450,400 1 1?°°»
.r ’l 388.000 Jan 11920 which will partially reimburse the co. for exts., add’ns. and Impts., Including
($1,000).................... e*ntf
Mlch.Tras» Co., Ord Rap., Trustee
Pontiac Light Oo consol sstgs i 1?02. * ^
Station^
y
1
”
08°
p &2 1 2 ^ ° k vr- turbo-gonerator in the Moline Power
179 °<X> J u 1 1927
$230,000 . g ($1.000)..«*tf Int. at Mich. Trust Oo
.............
...........
. Qrd ....
Rap Trent*
Fares.— In Dec. 1918 a 6-cent fare franchise was favorably acted upon at
Bends.—*1.7M.000 1st A ref.M . bond* are reserved to retire prior lies* a city
election o f Cedar Rapids. V. 107. p. 2478. In Aug. 1919 was auth.
Additional boads mar be Issued for 75% of cask cost of per ms scat ext*
the 111 P U Comm, to charge a straight 7-cent fare in Illinois cities.
S
JS
tsJi , undsr
UIFJte conservative
l "lists V Vw 1
rnmsi ■«->
Ac.,
restrictiens.
Red. at 105 A Int. on any let date by
Aug. 1919 tiie City Council of Davenport, la., passed an ordinance raising
on M............................
days' eatlee; tax-exempt m Michm u i. v» -lp
. ms,
p. 813.
oie. 890
xvo Bay Olty In
2. p
fares to 7 cents.
Kalanasoo, ~
' and' Flint
’
and Jackson bonds are red. at 110 A let.
Int. Kalamasoo.
Pontiac
£7?,n,^®r Agencies.— Stock transfer agencies are maintained In New York,
Issues are red. at 105 A tut. Int. on Jackson Gas Oo. bonds Is nayable at <
la Chicago and In Grand Rapid*. See V 97. p. 1358
Hodenpyl. Hardy A Co.. N. Y.
STOCK AND BONDS.—
Date.
Outstanding Maturity.
Dividends on pref. have been paid regularly since organization.
Interest
Common $12,500,000 ($100)
Q-J
$6,877,900 Oct 19.1%
EARNINGS.— For 12 mos. ending Dec. 31:
1st pref $12,500,000 ($100")]
Year— Gross.
Oper. Expenses.
Net.
Chgs. A Tax
Surplus
6% cum.............................
cum_________________ C
( ____
0%
Q-J
10.112.600 Oct ’ 19.1)4
1918— -$2,822,595
$2,274,942
$547,053
$362,526
$185 127 First
" ref" mt*e gold
"" (SlOO.f" 1912
r«t A
5 g J-D
9.096,400 June 1 1932
1917— . 2.393,411
1.740.350
559,004
249.226
403.829
$500 A $1,000)___ c*Ar_tf (New York Trust Co., N. Y ., Trustee.
50
ELECTRIC RAILWAYS
UNITED LIGHT AND RAILWAYS COMPANY .
ASSOCIATED COMPANIES
KEY TO PROPERTIES
Q
Gas (only)
Electric (only)
Gas and Electric
^
Gas, Electric and Railways
3
Interurban Railways and Terminals
Gas and Railways
(Street and Interurban)
[VOL. 109
S o Y .y
1919. J
ELECTRIC RAILWAYS
51
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
-Oonv debentures gold t$100.l IVlb
6 g M -N
$1 000.000 N ot I 1926
$500. $1 .000. A c) _c*A r*tf 1Ini. at New York T r C o N Y .. trustee
N otes (closed) $1,000, *5oo 1915
6 g J-J
1.500 non, Jan 1 1920
A *100) gold*............ .. . _c*\Interest at New York Trust C o ., trustee.
Secured notrs.srr “ A ” (%100c.J 1917 6 ft M -N
1.500.000 M ay I 1920
$500 A 1,000c*) g o ld __ tf 1Int. at New York Trust d o .. New York.
•Secured notes, ser. “ B " (*100/ 1918
7 g A-O
1.500.000 A pr 1 1923
$500 A $ 1 .000)------------- c * tf U n t . at New York Trust C o .. N. Y ., Trustee.
Chattanooga Oae first nitgei 1907 5 J-J
502 (Hit) Jan 1 1927
$1,500,000 < ( $ 1 . 0 0 0 ) l ot. at C on. A C om . T r A Say » k . . C hic.
I Trustee, or First N a t. Bank, New York
People's Gas A El Gen M tg e j 1900
6 A-O
370,000 April 1 1931
$500.000.................. ...........tf 1 Int. at Central T r. C o .. C hicago. Trustee
o f steamers for M ilwaukee, which are In operation all the year round. T otal
track, 56 54 mile*, of which 4.22 m. In Grand Rapids and 3.43 m In Mus
kegon ar* operated under favorable trackage agreement with the Grand
Rapids R y. and the Mutkegon Trac A Ltg. C o . 70-lb. T rail
O pn -ites
21 passenger, 12 express and 8 work cars. A lso does a freight business
— V . 100. p . 901, 1672: V . 107, 0. 82, 291.
(1) The Tri-C ity R ailw ay A L igh t C o .
In June 1912 control was acquired by the United Light A R ys. O o .
T rl-C lty R y. A Lt. com . stockholders received In exchange for their shire*
$31 16 2-3 cash. $16 60 2 3 United Rys 0 % 1st pref. and $12 .50 2d pref
3 % stock .— V. 94, p. 768. The United L t. A R ys. C o . owns $8 915 QOO
com m on and $173,800 preferred stock.
O R G A N IZ A T IO N .— Incorporated in C onnecticut M arch 3 1906 add
owns all the stock, except directors shares, o f the following companies
TiH.fMtw
) . l l . . « /Oo. of l,y«a
Vfolina.D.wtb
..I--- 1 »r»_
For securities corering rail wav properties tee separate, companies delate
Trt-Olty lRailway
Iowa.
M oline-R ock IIsland
M fg . ,CP«*uiwo
o.
Stock.— First pref. stock is redeemable at 105 and accrued d ivs. The Trl-Clty Ry Co. of Illinois.
People's Light C o.
2d pref. stock was conv. Into 1st pref. or com . stock, share for share, in 1915. Moline Rock Island A East. Tr. Co. Clinton Davenp. A M uscat. R y. C o .
C om . Is only stock with voting power. V. 91, p. 96, 519; V. 92. p. 1110; V. Moline E. Moline A Watert. Ry.Oo. Muscatine Lighting C o.
95. p. 421. $306,000 additional com . stock Is held in treasury. $480,500 of People's Power Co.
W atchtow erA Cam pbells' Its. Pk.O o.
the outstanding Chatt. Gas C o. pref. stock Is owned b y the United Light & Iowa City Light A Power Co.
Railways C o.
Controls all gas plants, electric-lighting companies and street railway
B'init.'i — Int on first and ref. m tg. bonds is payable at o ffice o f trustee lines In the cities of Davenport. Iowa City, Muscatine. Bettendorf and
or Continental A Commercial Trust A Savings Hank. Chicago
M ortim er
Rockingham. la., and Rock l*land. Moline. East M >line and other small-r
N . Buckner is co-trustee
$6 000.000 bonds (not Included In am ount out towns In Illinois, and an Interurban connecting Muscatine. Davenport and
standing above) are deposited as security for 0% notes and *207.200 are ,o Clluton. Population served, approximately 177.000. Railway franchises
treasury
Additional hond* may be issued for refunding underlying bonds extend to 1930, 1935 and 19.51. electric franchises to 1935 and 1943 and
and for 75% of par value of preferred stocks o f underlying com panies re
gas fra n ch ises to 1929. 1933 and 1913.
IWW' ana
deem ed or purchased. 75% of c>*t o f betterm ents. Improvements and addi
In Jan. 1916 the properties of the Iowa A Mlnofc Ry. and Iowa A Illinois
tions, and ror 75% o f coat o f additional property, under certain restrictions
Terminal Ry. companies (formerly owned by the United Light A Rys Oo )
Redeem able ax a whole or in part on any Int. day at 102 4 and int on 60 were acquired and merged with the Davenport A Muscatine Ry forming
d a y s ’ notice. A depreciation fund o f 2 % on all bonds out becam e operative the Clinton Davenport A Muscatine Ry. All of the $1,063 000 1st M
in 1917
See description o f bonds in V. 102. p. 1898. Chattanooga Gas bonds or the Iowa A Illinois Ry. outstanding have been acquired bv the
C o. bond* have a sinking fund o f $15,000 per annum Trout 1912 to 1926
Tri-City Railway A Light Co.
Inclusive, on first $500,000 bond* and 2 % additional on any further bonds
W age In crea ses. — V. 106, p. 2758; V. 109, p. 578.
issued. Subject to call at 105 and Int. V. 84, p 805. $6,000 o f bond*
F a res. — In Sept. 1918 the Illinois P. U. Commission suspended until
reported outstanding owned by United Light A Railways C o.
Jan. 29 1919 a proposed advance in street railway fares in Moline East
T he $1,500,000 note* o f 1915 are secured by deposit o f $2,000,000 1st Moline, Rock Island, Silvis and Milan. V. 107, p. 1288. See also V 109
A ref. 5*. due 1932. They are red. at 101 and Int. on 4 weeks' notice. p. 578. Effective Aug. 8 1919 was auth. by the P. U. Comm to charge
T he bond secured note*. Series “ A ” o f 1917. are secured by $2 000.000 a 7-cent fare. V. 109. p. 777.
cnarge
<133 1 -3% ) 1st A ref. os. Series " B " o f 1918 are secured b y 1st A ref.
STOCK AND BONDS—
Date. Interest. Outstanding.
Maturity
59 In like ratio.
Additional bonds o f these or subsequent series m ay
.......... — .$9,000,000
See text *
b e certified only upon deposit o f additional 1st & ref. 5s in the same Common $9,000,000 ($100) . - ...........
6
Q-J
3.000.000 Oct? 19 |4
ratio. Subsequent series may not mature earlier than M av 1 1920. nor Pref $3,000.0000% cum ($100)-------7.446.000 April l' 1923
later than Nov 1 1927. Proceeds from sale of additional notes mav be Coll trust first lien mortgage! 1900 5 g A-O
$9,000,000 s f . . . . cArtf Int. at N. Y. Trust Co.. N. Y T w u *
used for additions, A c., and for acquisitions. N otes outstanding at any
5 g J-J
10 059.000 July 11910
'one time not to exceed $5,000,000. O o. will pay normal Federal incom e 1st A ref mtge $20,000,000 1910
fo ld ....................... c*Ar*tf IInt. at Central Trust Oo.. N. Y. Trustee
tax not In exces* of 2 % ; Pa. 4-mill tax refunded. Series “ A " notes red.,
Tri-City
Railway
1st
M
.
.
.
t
f
1902
<
M-S
54.000 Sept 11922
all or part, at 1001$ and Int. on 4 week's notice. V. 105. p. 2185. Series
1912 5 M-S
409.000 Sept 1 1932
“ B " are redeemebl s, all or in part, on any interest date on four weeks' notice Iowa City Light A Power
refunding mortgage ($1,- Interest at Continental A CommT Trust A
at 101 and int. prior to Oct. 1 1920, at 100.(4 and int. thereafter to Oct. 1
000.000 ($1.000).........c*tf
Sar. Bank. Chicago. Trustee.
1922. and thereafter at 100 and int. V. 107, p. 605.
6 M-N
226 500
See text
Debentures — The direct obligation o f the co
N o m ortgage m ay be cre Iowa City G m A Electric Ut/ 1909
mortgage $400.000____ tf Int. at Chic. Tr. A Sar. Bank. Trustee
ated lunlor to the 1st A ref M without equally necurlng the deb*
At no
Stock.— Pref. stock li redeemable at 120 and aeoum. dlvs. As* v 827
time shall there be outstanding debs In excee* o f 75% o f the total o f « %
pref stock outstanding
No further deb* may be Issued unices earns, P- 1213. Listed on Montreal, Toronto and Louisville Stock Exchanges.
available for Interest charges are 3 times the requirement* cm ths d «b
Bonds.—Of the $9,000,000 coll, trust bond*. $ l .600.000 bar* bean retired
then outstanding lncl. those applied for as well u the Int. upon any un by vtnk rd. SubJ to call on any Int. date at 105 and Int A sinking fund
secured debt
They are callable, all or part, upon 4 w eek*'notice to N ov l •f $50.000 per aim. from Jan. 1 1908 to 1913; $130,000 for succeeding 5 years
1921 at 1*12 *nd Int , and thereafter at 101 and Int. C onvertible upon 10 then $250,000 per ann. to maturity. Coupon bond* ar* in denomination
d ays' n olle* from N ov. 1 1918 to N o v . 1 1923 lncl. Into 6 % pref «tork of $ 1.00*1 and r*«»*S*r*d bond* In $1,000. $5,000 or $10,000 and multiples.
at the rate o f $1,125 par valu* for each $1,000 par value d eb .
P a. (State They are listed <M N Y. Stock Exchange. Of the 1st A ref. bond* «uftax refunded. V. 103. p. 2079flcient are referred for prior ll«ns, and remainder for $5% of oust of ad
M aintenance and Depreciation Fund.— T he co . must set aside yearly not dition* and Improvement*. Subject to nail at 105 and Int. on aav lat date.
lea* than 1 2 4 % o f Its gross earnings, any part o f which not actually ex Slotting fund of 1 4 % of bond* out begin* Fsb. 1 1934. V. 93 d 1465.
pended In any calendar year for m alnt., A c ., to be used for extension* ad $6 863.000 of outetandlng 1st k ref. bond* are owned by tin Lt A K n <'o
ditions A c ., against which no additional bonds m ay be Issued
Of the $.54,000 Tri City Ry l.t M. 5*. United Light A Rys Co. own* Sfy 000
Of the Iowa City Lt A Pow Oo. bond*. $J58.50« ars r W v “ l i retlre
Dividends o f 1 4 % hare been paid quar. on 1st pref. since O ct. 1910 to
lncl O ct. 1919. Ths secon ^ p rsf. received H % quar. from O ct. 1910 prior H«h and $344,500 for new eon-truetlon at $5% of eort™ AlI the out!
The Iowa City
to July 1915. Was then converted Into 1st pref. and com . stk As to stock standing bonds are owned by Trl-Olty Ry. A Light Oo
Gas A Elec, bond* n**tur# serially $4,000 to $*.A00 annually rrom May 1
d lv. on com m e V 94. p 1250
Diva, o f 1% on com . were £ I ld
1912 to May 1 1927 and $13.5.000 in 1*25. SubJ. to nail at 105 and Int
from April 1913 up to and la d . July 1914. N one to O ct. 1916 when I f
was paid same rate quarterly since to and lncl. O ct. 1919.
A stock dlvl- on anv int date. Additional bonds mar be issued fer 80% of oout of erl
dond o f 1 % . payable In com m on stock, was paid Aoril 1 1Q14 in a.<ifilrinn tensions and betterment*. $1,500 owned by Un. Lt. A Ry. Co
tDisidends.— First dlv on pref.. 1 4 % . paid July 1906 and I U VL nnar
to the regular dividend o f 1% paid on the same date
V. 98. p. 525
since to and Including Oct 1919.
A dividend ef f% waa paid on th#<comR E P O R T .— Report Tor calendar year 1918 in V. 109, p. 587. 673.
_
„
Combined Earnings of Subsidiary Companies.
Dec. 31 Year— Gross Exp. A Tax. Wet.
Int. <%r
Surplus
} ? } § ------------------- $9 015,559 $6,415,106 $2,600,453 $1,681,910 $918 543
1917....................... 7 ,(05,269
5,046,908 2,658,361
1,494.688 1,163.673
Income Account, United Light <t Railways Co. for Years ending Dec. 31.
1918.
1917.
_ „
„
1918. '
1917,
Earns, on stks.
Interest on
or sub. c o s . $910,975 $1,150,369
bonds
and
Other in com e- 1,104,196
904,525
notes............. $801,500
$703,050
Preferred divi
T o ta l---------- $2,015,171 $2,054,894
dends ..........
607,386
605,557
Exps. & ta x es.
157,904
147,273
T otal d e d u c t .$ l,408,886 $1,308,607
Net earns------$1,857,267 $1,907,621 B al., surplus. $448,382 $599,014
Operating Statistics.—Years ended Feb. 28:
M. cu ft of gas sold
L388.637 M68.911
L712.916
L887.502
K .w .h . elec, energy sold 97,194.997 113,704,865 136.162,761 162 274 312
Revenue passengers:
'
'
Urban railways........... 32,374.537 36,736.577 43.192.796 43,694,321
Interurban railways..
1,712,646 1.847,864
1,835,748
1.754,132
PRO PERTY.— Electric light and power is furnished from 19 central
stations with a total generating capacity of 103.650 h. p. of which 6 450
h .P -•* pur«'liaswlHuiter power; 155 miles or high-tension transmission lines,
2*695 milo* of distributing linos, sub-stiitions, Jcc. G&s is sunnlifvl from
11 stations with TO miles (3-inch equiv.) of n , mains;&annua^al« are m
exc**» of 1 000 000 00) cu. ft. The companies combined have over 59.000
g.as and over 38 000 electric customers The street and interurban railways
havo a total mileage of single track of 276.51 miles.
y
OFFICERS.— Pres.. Frank T. Hulswit. Chicago; V.-Ps
Richard
Schaddeleo. Grand Rapids; J.F. Porter, Kansas City, Mo .1 B J Denman
Davonport; C. M. Hurd and T .J . Weber, both ol' Grand Ranid’s Sec l ’
H. Heinke. Grand Rapids; Treas.. C. M. Hurd. Grand Rapids; Oon Mgr
Richard Schaddolee; General office, Portland, Me.; executive office’
Chicago; operating headquarters. Grand Rapids; operating headauarters
for Iowa district, Davenport. Iowa— V. 106, p. 1789. 1SC4- V 107 n
p. 286, 605. 1838. 2478; V. 108, p. 481. 1611, 2153; V 109? p 587. 67$.
(1 ) Grand Rapids Grand Haven A Muskegon Ry.— Electric road
Third-rail system
Kntirv »toek owned by United Light A By* Co.
ORGANISATION — Incorporated In Michigan on March 6 1899 Own*
and aperaisw an electric road on feneod right of way. connectto-i the three
cities named In the title, a distance of 4l mile*. Franchise* in all town*
through which It pas«c« extend to I9JO otherwise private right of wav
Rates.— In July 1918 applied to the I.-S. C. Comm, for auth to Increase
class rates from points on the line to Milwaukee. Wise by 25%
in
July 1918 filed suit in the U. S. Dist. Court at Grand Rapids seeking to
enjoin the State from enforcing the law fixing the maximum rate for Interurbins In Michigan at 2 cents a mile. V. 107, p. 291. In Dec 1918
Judge C. W. Sessions, in the U. 8 . District Court at Grand Rapids Mich
held valid the Michigan 2-rent fare law thus preventing the company rrom
collecting 3 cents per mile. V. 108, p. 78. In May 1919 the Michigan
Legislature passed a b ll increasing passenger rates on steam and electric
interurban roads from 2 to 2(4 cents and 3 cents per mile. See "United
Lt. A Rys. C o.," V. 108, p. 2123.
8TOOK VNI) BONDS— Dale.
Interest. Outstanding. Maturity
Stock. $1.300.000 ($100)---------------- ............... $1,200,000 .
1st mtg* $ 1 ..500.000 ($ 1 ,000)1 1901
5 f J-J
1.500.000 July 'f l M i
gold.................. . . . . _e*tf ’ Int at Guaranty Tru*t Co.. N. Y Tru*to*
Stock — Entire stock, except director*' share*. deposited under United
Light A Ry* Co !*t and ref min*.
Bonds.— The Interest on outstanding bond* was guaranteed for 6 yean
by the Security Investment Co. of Pittsburgh. See V. 7fl, n 479. $2 000
of outstanding bond* held hy United Light A Railway* Co.
ROAD —Extend* from Grand Rapid* In a north westerly direction to
Muskegon, with a branch to Spring Lak« and Grand Haven. Connect* at
Grand Haven with Goodrich Line of steamers for Chicago and Crosby Line
mon stock Jan. 1 1916 (practically alt of thl* stock i* owned bv United Light
A Ry. Oo. and previous disbursement* were no* made nubile) »nd
to and incl. April 1918. In 1919, Jan., 1%; April, 1%; July? 1% . q
ROAD.—Operates over 170 mile* of standard gaug* track, connecting the
cities of Clinton and Davenport. Iowa, and Rock Island. Violin* and Fast
Moline. III.; Including an extension to Muneatln* placed In operation in
1912 and city lines In Muscatine. 80-lb. girder and 60 to 75 lb. T rill.
OFFICERS.— Pres., B. J. Denman. Davenport; V.-P.. Richard Schadde.
Ioe, Grand Rapids; V.-P.. H. E. Weeks; Treas.. Frank T. IIulswit Sec
H. E. Littig.— V. 108. p. 78; V. 109, p. 578, 777.
Huiswit. Sec.,
(«) Cedar Rapids & Marion City Ry.
ORGANIZATION.— tncorp May 1891 In Iowa. Franchise In Cedar
Rapids expires 1941 and indeterminate on interurban. The United iT
A Rys. Co. owns $584,801 stock and $184,000 bonds.
500
Fares.— At a city election of Cedar Rapids held on Dec 17 1918 the m
was auth. to increase fares to 6 cents.
15,10 tne 00•
STOCK AND BONDS—
Date.
Interest. Outstanding
Stock $1,000,000 ($100)........................... ...........
S6WIOOO' *ta,uritV’
First mtge $250,000 ($1,000)/ 1891
6 J-J
1*4 000 July* 1*1*657
c ntf' int at Amer. Tr. Oo.. B ™ T n . J 1931
b° nd' ' * “ , 00° * "
, ™ * u r7 “
0 .5 2 \ “ p 7 £ 7 o '.^
all. 28-90 miles. Rails. 45. 00 and 80-lb. T
a *<”
* »
a r.
•‘dings. 3.17; total of
(4)
Mason City & Clear Lakh Railroad C*.— A trailer m.d
In reb. 1913 the United Light A Ry*. Co. a c q u i r s d S r ^ ’
ORGANIZATION. ETO.— A trolley road. Operated *lnd i.,i
Own* right of way 3.3 feet wide from Me»>* Oltyto Clear
18?i7 *
Length of line within and between the two cltU* ls'sm
H ^ d l.^
freight coming over Minn. A St. Louts, Chic. R. I. A Pac Ohleaen
^ s n ^ r j i s r 1^
^ iw 'iis s s is s ? .
■ S ,(5o5SS“ K.D! - . . . D7 ;
General mortgage $2,500.0001 1912
6 g J-D *"
aia onn Tn'„V
gold ($1,000) ---------c*tflint atF Irv^r A l h v . l i " ' . ^ ^ , 1” 3*
Brtn'1,''Ti?ern’llnin* ,bond* *re for "^tensions and betterment* at 7 set ~r
eo*t. providing annual net earning* are 1»<( time* Int eh*r« mJa
?f
to be lrnued). Red at 10.5 and Int on any Int day
flnk ff. r?£<
t*
per annum began June 1 1913 to provide fSr S^Btlon. e n d * ^ '1 ° f 2%
Co ^ ? ? M . ‘ p. °1764ndS’ , 8 ’5° ° ° r OUt*t* ntlln«&nd.°S'w52db?U?L?B^?.
O R E K N
B A T ,
W I S .
WISCONSIN SECURITIES C O .- A holding company
ORGANIZATION.— Incorp. 1« Wisconsin on Dec 1^10,1 .n , ,
ly a financing company V 94 n «{ >,
r\bnV;„i ..r, 191.1 an'1 ,9 P«reOo. AIw own. the $1.50.000 outstanding
£ ,fL q" rvGas Light Co. (V. 100. p. 738) and a Urgr^hlra^^l00.h°f
Sheboygan
Lt. A Pow Co.. Which Site under “ La Cra£S w k " ‘rlVl* W,1^ nsi” H y s
all the »tock of the Manitowoc IWis.) A Northirn
*f'9 ’tired
an electric railway between Manitowoc and
Go . operating
V 104 n. 75. 51*o ow” thr C dSmet S^rrlL o
,?bout 10 mi'escontrols the Marine Securlti«j Co ^whlrh
of ° n w” ' W1«-- »nd
Dnr Dock A Ship Building Co. V. '{07 n^no^” 8 the Baltirnore (Md.)
“a
aswiSLi.*
■*»*
ELECTRIC RAILWAYS
52
Sheboygan Gas Light Co . —
C o m m o n , $ 2 5 0 , 0 0 0 ____________( $ 1 5 0 ,0 0 0 o u t — A l l o w n e d b y W i s e . S e c u r . C o . )
F ir s t m o r t g a g e $ 2 5 0 , 0 0 0 g o ld 1 1 9 0 1
5 g J -J
2 5 0 .0 0 0 J u ly 1 1 9 3 1
( $ 1 , 0 0 0 A $ 5 0 0 ) ________ c * t f i l n t a t U n io n T r u s t C o . D e t r o i t . T r u s te e
N otes .— T h e n o t e s a r e s e c u r e d b y p l e d g e o f $ 1 0 5 , 0 0 0 W i s e . P . S . C o .
1 s t A r e f . 5 s . $ 6 0 , 0 0 0 S h e b o y g a n G a s L i g h t C o . n o t e s , $ 1 5 0 ,0 0 0 M a r i n e
S e c . C o . 7 % p r e f. s t o c k . $ 7 ,0 0 0 G r e e n B a y G a s A E le c . C o . 5 % b o n d s a n d
$ 4 8 ,0 0 0 U . S . 2 d c o n v . 4 X %
L ib e r ty L o a n b o n d s .
C a lla b le o n a n y in t .
d a t e o n 4 0 d a y s ' n o tic e a t 1 0 4 a n d in t . u p t o a n d in c l. J u ly 1 1 9 1 9 ; 1 0 3 a n d
In t. to J u ly 1 1 9 2 0 ; 10 2 a n d in t. to J u ly 1 1 9 2 1 ; 10 1 a n d in t. to J u ly 1 1 9 2 2 ,
a n d 1 0 0 a n d i n t . th e r e a fte r . V . 1 0 7 , p . 5 0 3 .
O F F I C E R S .— P r e s ., C le m e n t C . S m it h ; V . - P s . , H o w a r d G r e e n e a n d
L u d lin g t o n P a t to n ; S e c ., H o w a r d G r e e n e ; T r e a s ., I I . C . M a c k a y ; A s s t . S e c .
& A s s t . T r e a s . , W m . M . C h e s t e r .— V . 9 4 , p . 6 3 2 ; V . 1 0 0 , p . 1 9 2 4 ; V . 1 0 4 ,
p . 75; V . 107, p . 503.
(1 ) W i s c o n s i n
P u b lic S e r v ic e C o .
O R G A N I Z A T I O N . — I n c o r p . In W i s c o n s i n In J a n . 1 9 1 2 a s r e o r g a n i z a t i o n
an d m erger o f th e G reen B a y T r a c t . C o . an d N o r th e r n H y d r o -E le c . C o .
O w n s a n d o p e r a t e s e n t ir e c i t y a n d In te r u r b a n r a i l w a y s y s t e m ( e x c e p t a b o u t
1 . 6 6 m . o f t r a c k ) c e n t e r i n g a t G r e e n B a y . a n d f u r n is h e s g a s . e l e c t r ic lig h t a n d
.p o w e r to G r e e n B a y a n d s u b u r b s .
O n J a n . 1 1 9 1 4 t h e e n t ir e p r o p e r t y o f
t h e G r e e n B a y G a s A E le c t r i c C o . a n d t h e M i n a h a n E l e c t r i c C o . w a s p u r
chased.
F o r p a r tic u la r s o f G r e e n B a y G a s A E l. C o . , se e V . 8 2 , p . 5 7 3 . 6 3 1 ,
and V . 8 6 . p . 172.
S t r e e t r a i lw a y franchise la p e r p e t u a l a n d e x c l u s i v e .
STO C K A N D BONDS—
Date.
Interest. Outstanding. M aturity
.. .......................$ 1 , 0 0 0 , 0 0 0
...............................
C o m m o n . $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ...................
P r e f . $ 6 0 0 , 0 0 0 6 % c u m ( $ 1 0 0 ) ..........
.........................
6 0 0 .0 0 0
................ ...........
1st m t g e . A r e f. $ 1 5 ,0 0 0 .0 0 0 1 1 9 1 2
5 g J -J
2 .4 3 8 .0 0 0 J a n . 1 1 9 42
g o ld ( $ 1 . 0 0 0 ) ____________c * t f ) I n t . a t W i s c o n s i n T r . C o . . M i l w a u k e e , t r u s .
G r e e n B a y G A E 1st A r e f \ I ( 1 9 0 5
5 g M -N
4 3 7 .0 0 0 M a y 1 1 9 3 5
$ 7 5 0 , 0 0 0 . < ( $ 1 . 0 0 0 ) _____ c * l I n t . a t W i s c o n s i n T r . C o . . M i l w a u k e e , t r u s .
Bonds.— W i s e . P u b . S e r v . b o n d s a r e s u b ) , t o c a ll o n a n y I n t , d a y a t 1 0 5
a n d in t.
R e m a i n i n g b o n d s a r e f o r a c q u i s i t i o n s a n d t o r e t ir e u n d e r ly i n g
b o n d s u n d e r c e r t a in r e s t r i c t i o n s .
See V . 9 4 . p . 1 6 9 7 .
Sinking fund o f 2 %
o n b o n d s o u t s t a n d i n g b e g a n in 1 9 1 7
T h e G r e e n B a y G a s A E le c t r ic
b o n d s a r e s u b j e c t t o c a ll a t 1 0 5 u n t il 1 9 2 4 : t h e r e a f t e r a t p a r ; $ 6 5 , 0 0 0 h a v e
b e e n p a id a n d c a n c e l e d .
$ 2 2 8 ,0 0 0 a r e p le d g e d a s a d d itio n a l s e c u r it y u n d e r
th e W is e . P . S . C o . 1st M . A r e f. b o n d s .
E A R N I N G S . — O f c o m b in e d p r o p e r tie s fo r 1 2 m o s . e n d in g D o c . 3 1 :
Year —
Gross.
N et (after tax.)
Interest. Bal., Surplus.
1 9 1 8 ............. .. .......................$ 7 2 2 ,4 1 2
'
$ 2 0 6 ,0 5 0
$ 1 6 1 ,9 6 7
$ 4 4 ,0 8 3
1 9 1 7 . . . .............................. 6 1 5 , 9 3 6
2 3 9 .8 5 6
1 6 0 ,6 0 7
7 9 ,2 4 9
R O A D . A c . — O w n s a n d o p e r a t e s a ll lin e s in t h e c i t y o f G r e e n B a y : a l s o
a l in e f r o m G r e e n B a y t o E a s t D e P e r e , a n d b r a n c h t o D u c k C r e e k a n d a
lin e fr o m G r e e n B a y t o W e s t D e P e r e . L i t t l e R a p id s , W r ig h ts t o w n a n d
K a u k a u n a ; t o t a l , 4 3 .0 1 m ile s o f t r a c k .
7 0 a n d 8 5 - l b . “ T ” a n d g ir d e r r a i l ;
2 3 m o to r cars.
G a s m e t e r s , 4 , 3 0 0 , e l e c t r ic m e t e r s , 4 , 5 3 1 .
O F F I C E R S .— P r e s ., C le m e n t O . S m it h . M ilw a u k e e ; V . - P s . , C . R . P h e n .c i e . G r e e n B a y . a n d J . P . P u l l i a m . M i l w a u k e e ; S e c . A T r e a s .. H o w a r d
G r e e n e , M i l w a u k e e ; G e n . M g r . . J . P . P u l l i a m . M i l w a u k e e .— V . 9 4 . p . 1 6 9 7 .
GREENFIELD, MASS.
M ASSACH USETTS
C O N S O L ID A T E D
.
R A IL W A Y S .
O R G A N I Z A T I O N . — O r g a n i z e d In B o s t o n o n N o v . 1 6 1 9 1 1 a s t h e M a s s a
c h u s e tts N o rth e rn R y s .
In M a y 1 9 1 3 n a m e w a s c h a n g e d t o t h e M a s s a
c h u s e tts C o n s o lid a te d R a ilw a y s .
Is a v o l u n t a r y a s s o c i a t i o n m a n a g e d b y
a board o f sev en tru ste e s.
V . 93 . p. 1462. 1599. 1787.
C o n t r o ls th r o u g h
■ t o o k o w n e r s h ip t h e f o llo w i n g c o m p a n i e s :
C o n c o r d M a y n a r d A H u d s o n S t . R y . IM ille r s R iv e r S tr e e t R y . (p r o p o s e d ).
C o n n e c tic u t V a lle y S tr e e t R y .
I N o r th e r n M a s s a c h u s e tts S tre e t R y .
T h e s y s t e m c o m p r is e s 1 1 4 m ile s o f r o a d , s e r v i n g 2 0 c it ie s a n d t o w n s la
C e n tra l an d N o rth e rn M a s s a c h u s e tts .
B o t h p a sse n g e r a n d e x p re ss s e r v ic e
a re p r o v id e d .
R i g h t s o f w a y h a v e b e e n p a r t l y s e c u r e d o n t h e p r o p o s e d lin e
fr o m O r a n g e to M ille r s F a lls .
_
Shares—
Outstanding.
Last D ie.
See text
C o m m o n $ 1 , 6 4 0 , 3 0 0 ( $ 1 0 0 ) ....................................................... $ 1 , 6 1 9 , 9 0 0
P r e f $ 1 , 1 0 0 , 0 0 0 ( $ 1 0 0 ) c u m (s e e t e x t ) Q - F ..................
7 0 4 .6 0 0
S ee te x t
S T O C K . — A d d i t i o n a l p r e f . s h a r e s o n l y t o b e Is s u e d w h e n n e t e a r n in g s ror
1 2 m o s . e n d in g n o t m o r e t h a n 1 8 0 d a y s p r io r t o d a t e o f Issu e s h a ll h a v e b e e r
I X tim e s a m o u n t n e c essa ry to p a y d lv . o n sh a re s o u t a n d a p p lie d f * r .
D l v s . o n p r e f . a r e 5 % t o N o v . 1 1 9 1 4 . I n c l .; 5 X . % t o N o v . 1 1 9 1 7 .. I n c l .,
a n d 6 % th e re a fte r .
In c a s e o f li q u i d a t i o n p r e f. is e n t i t l e d Co $ 1 1 0 p e r s h a r e
u p to N o v . 1 1 9 1 4 . $ 115 to N o v . 1 1 9 17 an d $ 1 2 0 th e re a fte r . V . 9 3 . p . 1 5 9 9
Dividends . — O n p r e f . , 1 9 1 2 t o 1 9 1 4 , 5 % p e r a n n u m . In 1 9 1 5 a n d 1 9 1 6
5 X % F ob . 1917 d lv . p a sse d .
O n com m on a d iv . o f X %
w a s P a id
O c t. 15 1 9 1 3 .
„
„
, _ .
_ .
E A R N IN G S .
Gross
ExN et
Note
Pref.Div. Balance
Year ending— ■
Incom e, penses. Incom e. Interest. ( 5 X % ) • Deficit.
D e c . 31
1 9 1 7 _____$ 6 , 4 2 8
$ 3 ,5 4 3
$ 2 ,8 8 6
$ 1 6 ,5 3 0
$ 9 ,6 8 8 $ 2 3 ,3 3 3
D e c . 31
1 9 1 6 _____ 2 0 . 4 3 9
1 3 .9 6 3
6 .4 7 6
3 8 .7 5 3
3 2 ,2 7 7
J u n e 3 0 1 9 1 6 _____
7 .2 1 6
1 1 . 9 7 9 d e f 1 .7 6 3
................
3 8 ,7 5 3
4 3 .5 1 6
Combined Earnings o f Subsidiary Companies.
Year ending— Gross.
N et.
Int. A T azes. Pf.D iv Com Div. Surplus.
D e c . 3 1 1 9 1 7 -$ 5 8 7 .0 5 6
$ 1 3 5 ,1 2 4
$ 1 2 5 ,8 9 2
$ 9 ,4 5 0
None
d e f.$ 2 1 8
D e c . 31
1 9 1 6 . 5 1 8 .3 5 9
1 4 9 .1 2 2
1 1 6 .0 2 8
1 6 .2 0 0
1 4 .3 9 6
2 .4 9 8
J u n e 3 0 1 9 1 6 . 5 2 9 .4 8 4
1 4 8 .6 7 6
1 1 6 .5 0 8
1 6 .2 0 0
3 .7 4 7
1 2 .2 2 1
O F F I C E R S . — S e c . A T r e a s ., D . P A b e r c r o m b i e J r .; G r e e n f i e l d . M a s s . —
V . 9 7 . p . 3 6 5 , 95 1; V . 100. p . 1168. 16 71 ; V . 104. p . 1702 V . 106. p . 2 0 1 1 .
(1 ) C o n n e c t i c u t V a lle y S t r e e t R y .— T r o lle y .
T h e M a s s . C o n s o l.
R y s . ow n s 4 .9 9 6 sh a re s o f th e c o m m o n s t o c k .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In 1 8 9 9 .
C om m enced Jan. 22 19 00 .
I s a c o n s o li d a t i o n o n A p r i l 1 1 9 0 5 o f t h e N o r t h a m p t o n A A m h e r s t S t r e e t
R y . , t h e O r e e n r ie ld A T u r n e r 's F a lls S t r e e t R y . a n d t h e G r e e n fi e l d D e e r f i e l d
& N o r t h a m p t o n S t r e e t R y . . a s p e r p la n In V . 8 0 . P- 1 1 1 1 .
I n M a y 1 9 1 5 t h e G o v e r n o r o f M a s s , s ig n e d a b ill a u t h o r i z i n g t h e N o r t h e r n
M ass
St
R y . to a b so rb th e c o m p a n y
b y c o n s o lid a tio n o r p u r c h a se
^ 'A?dh(nitv^ti?dperate Motor Vehicles Granted .—
O n Juno 19 1 9 1 9 w as a u th .
b y t h e M a s s . P . S . C o m m , t o a c q u ir e a n d o p e r a t e p a sse n g e r m o t o r v e h ic le s
b e t w e e n G r e e n f i e ld a n d M o n t a g u e . V . 1 0 8 , p . 2 5 2 8 .
Rates.— I n S e p t . 1 9 1 8 file d w it h t h e M a s s . P . S . C o m m , a t a r i f f , e f f e c t i v e
N o v . 4 1 9 1 8 , u n d e r w h ic h t h e s y s t e m
w a s d iv id e d in to 4 7 z o n e s , ea ch
a p p r o x i m a t i n g 1 m i l e l o n g , t h e r a t e o f f a r e t o b e 3 c e n t s In e a c h z o n e , w it h
a 6 -c e n t m in im u m c h a rg e .
V . 107, p. 1099.
In O c t . 1 9 1 8 f ile d w it h t h e
M a s s . P . S . C o m m , a lo c a l a n d j o i n t c l a s s f r e i g h t r a t e a n d m i n i m u m t a r i f f
in c r e a sin g r a t e s b y a b o u t 2 5 % .
STOCK A N D BONDS—
Date.
Interest. Outstanding. M a tu riy .
S t o c k , c o m . $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) ...................................................
$ 5 0 0 ,0 0 0 D e c 1 6 . 1 %
P r e f . $ 1 2 0 . 0 0 0 ( 6 % c u m ) ( $ 1 0 0 ) --------M -S
\ 2 0 .0 0 0 a
C o n n e c t i c u t V a lle y S t R y I s t / 1 9 0 0
5 g M S
1 2 0 .0 0 0 S e p t. 1 1 9 2 0
m o r t g o ld ( $ 1 , 0 0 0 ) . . e » n t f l i n t , a t O l d C o l o n y T r u s t C o . B o s t o n . T r u s t
N o r t h a m A A m b 1st m t g e . / 1 9 0 0
5 g M -S
1 8 0 .0 0 0 ' e p t . 1 1 9 2 0
$ 1 8 0 ,0 0 0 g ( $ 1 .0 0 0 ) ..c n t f ] I n t . a t O ld C o lo n y T r u s t C o . . B o s t o n . T r u s t .
G r e e n f i e ld D e e r f ie l d A N o r t h / 1 9 0 3
5 g J -J
1 5 0 .0 0 0 J u ly 1 1 9 2 3
fir s t m o r t , $ 1 5 0 , 0 0 0 . g o l d ! I n t . a t M e r c a n t i l e T r u s t C o . . B o s t o n . T r u s t .
$ 1 , 0 0 0 a n d $ 5 0 0 ) . . c * n t f I N o s i n k i n g fu n d a n d b o n d s c a n n o t b e c a lle d
G r e e n A T u r n f a l l « c o n 8 m $ 1 3 0 . -1 1 9 0 .3
S g J D
1 3 0 ,0 0 0 J u n e 1 19 23
0 0 0 g ( $ 5 0 0 . $ 1 ,0 0 0 ) c * n t f 1 In te r e st a t B e a c o n T r u s t C o . . B o s t o n , T r u s
N o t e s p a y a b l e D e c . 3 1 1 9 1 7 . . _____
__________
3 0 0 .0 0 0
--------------------- ;
Bcmds.— T h e N o r t h a m p t o n A A m h e r s t b o n d s a r e s u b j e c t t o c a ll a t 1 0 5
o n 4 w e e k s ' u o t l c e . as a r e t h e b o n d s o f t h e C o n n e c t i c u t V a l l e y S t r e e t R y .
T h e $ 1 2 0 , 0 0 0 C o n n e c t i c u t V a lle y b o n d s w e r e Issu e d u n d e r t h e fir s t m t g e o f
t h e N n r t h a m p . A A m h S t R y . . w h ic h w a s o r i g i n a l l y d r a w n -f o r $ 3 0 0 , 0 0 0 .
Dividends .— O n p r e f . , 3 % s e m l - a n n . s i n c e S e p t . 1 9 1 0 t o a n d In c l. M a r c h
1 9 1 8 (p a id M a y 1 1 9 1 8 ) .
O n c o m . . In 1 9 0 6 ( y e a r e n d . S e p t . 3 0 ) , 2 % ; in
1 9 0 7 . 2 % ; in 1 9 1 2 , 1 % ; In 1 9 1 3 . 2 X % : in 1 9 1 4 . 3 % .
In 1 9 1 5 , F e b .. H %
M a y , H % : A u g . . *A%.
In D e c . 1 9 1 6 . 1 % .
E A R N I N G S . — F o r c a le n d a r y e a r 1 9 1 6 a n d y e a r s e n d i n g J u n e 3 0 .
Year —
Gross.
N et. Int. A T azes. Pref .D lv. Com. Dio. Surplus.
1 9 1 6 ........................... $ 2 4 0 , 3 2 0
$ 6 4 ,1 7 1
$ 4 6 ,2 3 3
$ 7 ,2 0 0
$ 4 ,9 9 6
$ 5 ,7 4 2
1 9 1 5 - 1 8 ................. 2 3 5 , 6 1 9
6 2 .8 2 0
4 7 ,9 7 2
7 ,2 0 0
3 ,7 4 7
3 .9 0 1
1 9 1 4 - 1 5 ................. 2 4 2 , 6 3 3
7 7 ,5 1 5
5 1 ,7 3 3
7 .2 0 0
1 4 ,9 8 8
3 .5 9 4
Latest Earnings .— F o r c a l . y e a r 1 9 1 7 . g r o s s . $ 2 5 2 , 5 6 9 ; n o t . a f t e r t a x e s .
$ 4 9 .3 9 t .
R o A D . — O w n s a n d o p e r a t e s 4 7 . 0 5 4 m i l e s o f t r a c k b o t w o e n M i l l e r 's F a l ls
T u r m e r 's F a l l s , G r e e n f i e l d , N o r t h a m p t o n a n d A m h e r s t .
41 p a s s e n g e r
c a r s . ? s n o w p l o w s . 5 o t h e r c a r s a n d 1 3 1 e l e c t r ic m o t o r s .
O F F I C E R S . — P r e s .. O . W
F la z e lt o n ; V . - P
A G en
M g r ., D . P . A b e r
c r o m b i e J r .; T r e a s . , I I . A . C r a n e ; S u p t . , J . A . T a g g a r t . — V . 9 8 , p . 1 3 9 2 ;
V . 100, p . 1167; V . 106, p . 2010; V . 107, p . 1099; V . 108, p. 2528-
[V o l . 109
(2) Northern M assachusetts Street R y.— The Massachusetts C onsol.
Rys. owns all the common stock ($350,000).
ORGA N IZA TIO N .— Incorp. In MasN. on July 1 1894 as the Athol A
Orange Street Ry. Name changed to above on May 1 1913. In Jan. 1913
purchased the property and franchises of the Templeton Street Ry. and on
Mar. 1 1913 alisorbed the Gardner Westminster A Fitchburg Street R y.
As a result of these acquisitions, stock was Increased from $71,500, all of
one class, to $500,000. or which $150,000 Is 6% cum. pref. stock.
The Governor of Mass. In May 1915 signed a bill authorizing the com
pany to absorb the Connecticut Valley St. Ry. by consolidation or pur
chase. V. 100. p. 1833.
R ates. — In M ay 1918 was auth. by the Mass. P. S. Comm, to eliminate
the 5-cent faro limit and to adopt zones of about 1 mile in length with a fare
of 5 cents for the first 3 zones or fraction thereof and 2 cents for each addi
tional zone. V. 106, p. 2011. In Oct. 1918 filed with the Mass. P. S.
Comm, a local and joint class freight rate and minimum tariff, increasing
rates by about 25% . V. 107, p. 1482.
STOCKS AND BONDS— D a te.
In terest.
O utstanding.
M a tu rity.
Common $350.000.............................................. .
$350,000 In'14-'15.2 X
Pref 6% cum $150.000...................__
Q-F
150.000
See text
1st A ref M $500,000 ($1,000 / 1913
5 K M -N
315.000 May 11943
red 1on 4 X % Int baa _c*tflln t. at American Trust C o.. Boston. Trustee.
Gard Westm A Fitchburg 1st I 1900
5 F-A
185.000 Feb 11920
mtge ($1,000) gold. .c* n tf l Int. at Old Colony T r. C o., Boston. Trustee.
Notes payable Dec. 31 1917.. . . . .
_________
300,000 ---------------B on ds. — Of the $500,000 1st A ref. bonds. $185,000 are reserved to
retire an equivalent amount of underlying bonds. No sinking fund.
D ividends. — The Aug. 1917 dlv. of l x % on the pref. stock was deferred.
None since.
,
year
Gross
N et
In t. A
P r e f.
C om . B alance,
ending —
E a rn in g s. E a rn in g s.
T a xes.
D iv s . D iv s.
D eficit.
$2,716
Dec. 31 1916............ $226,356 $60,517 $54,233 $9,000
June 30 1916............ 216.510
60,766
52.137
9.000
371
June 30 1915........... 201.494 59,925
52.139
9.000 $8,750
9.964
Latest E a rn in g s. — For cal. year 1917, gross, $236,423; net. after taxes.
$39,691.
ROAD.— 47.7 miles of track.— V. 108. p. 2011; V. 107, p. 1482.
( 3 ) C oncord Maynard & Hudson Street Ry. — A trolley road.
The
Mass. Consol. Rys. owns 2,319 shares of the stock.
ORGANIZATION.— Organized In Massachusetts Mar. 27 1901. Ac
quired Concord A Clinton St. Ry. Feb. 1 1902. On Aug. 25 1911 acquired
Lowell Acton A Maynard St. Ry. V. 93. p. 1786. Fran ch ises perpetual.
STOCK AND BONDS— D a te.
In terest. O utstanding.
M a tu r ity .
Stock $235,000 ($ 1 0 0 ) ...................
.................
$235,000 See earnings
1st mortgage $250,000 g o ld ..7 1902
5 g J-J
230.000 July
1922
($1,000) ...................c& rn tfllnt. at Amer. Trust C o., Boston, Trustee.
Notes payable Dec. 31 1917______
_________
85.000 __________
ROAD.— Owns 19 miles of track between Concord. Maynard. Acton.
Stow and Hudson. At Concord connects with Lexington A Boston, and
at Hudson with Worcester Consol, and Boston A Worcester.
Y ea r en d in g —
G ross.
N et.
I n t .A T a x e s . D ividends. S u rplus.
Dec. 31 1916.............$81,683
$24,434
$15,562
$9,400 def.$528
June 30 1916............. 77.354
25.090
16.399
.........
8.691
June 30 1915............. 76.517
26,759
17.315
9,400
44
Latest E a rn in g s. — Cal. year 1917. gross, $78,596; net, after taxes, $4,769.
(4) Millers River Street Ry.
Rights of way have been partly socured on this company s proposed Una
between Millers Falls and Orange.
G R E E N S B O R O , N . C.
N O R T H C A R O L I N A P U B L IC S E R V I C E CO.
ORGANIZATION.— Chartered In North Carolina In 1909. Purchased
the Greensboro Elec. Co. and Greensboro Gas Co., the electric light plant
of the High Point Elec. Power Co. and the street railway system In High
Point. In 1913 built gas plant and distributing system in High Point.
In 1911 acquired majority of the stock of Salisbury A Sponcor Ry. C o.,
which company It also leases for 50 years. V .93 .P - 1324. Does entire gas.
electrlc-llght and power and street railway business of Greensboro (and Its
suburbs of Proximity. Revolution. White Oak and Pomona). .Salisbury,
Spencer, East Spencer and High Point and street railway business o f
Concord. In 1910 fra n ch ises had the following number of years to run:
Greensboro, 28 years; High Point. 59 years, Salisbury, Spencer, East Spen
cer and Concord. 60 years; also has a 30-year fra n ch ise In Guilford Coum y
and township
Changes in Stock. — Shareholders on M ay 15 1917 voted to reduce the
$3,322,900 common stock to $1,500,000 by the exchange, pro rata of
$500,000 pref. stock authorized for the purpose, said pref. stock to bear
4% dlv. the rirst year. 5% the second year and 6% thereafter. Holders
or each 100 shares of existing stock received in exchange 15 shares (plus frac
tion) of new pref. and 45 shares (plus fraction) of common stock. As o f
M ar. 11919 about 95% of the stock had been exchanged. This action will
result In considerable saving In State and Federal taxes.
Kate In crea ses. — Has been authorized by the Commissioners In the City of
Greensboro to abolish all reducod-rato tickets and establish a straight,5-cent
fare. The N. C. Corp. Comm. auth. the co. to increase fares to 7 cents
with 4 tickets for 25 cents, effective Dec. 1918, and to increase its charge
for gas in Greensboro 25c. per 1,000 cu. ft. V. 108, p. 269.
Daate.
Interest. O utstanding.
STOCK AND BONDS—
D
te.
Interest.
M a tu r ity .
. . . .
_ . . . . . . . . Outstanding
Common $1 500 0^0 ($100).............
See text
. . . .
Preferred $1,000,000 ($100)_______
See text
See text
Greensb El Co 1st M gold I 1902
5 g A-O
$170,500
($500 A $1.000)...........ctf/In t at Eqult. Tr. Oo7. N. V " trustee.
Greensb El Co rof A Imptl 1905 6 K A O
30.500 June
1930
M ($500 A $1.000)----- ctf/In t. at Bankers'Tr. Co.. N V trustee.
First Aref.m .$3,500,000(100./ 1909
5 A-O
2.126 900 Apr 11934
$500 and $1,000). c*Ar» tfl Int. at Equitable Trust C o., N V., trustee.
Sallsb A Span Ry 1st M gold/ 1905 5 g M-N
831.000 May 1 1945
$1,000,000 ($1.000)._c*tf{ Int. at Mich. Trust C o.. Grand Rapids.
„
.
.
.
.
.
I
tr u s te e , o r E q u it a b le T r u s t C o . . N . Y .
B on ds .— Or the 1st & ref. mtKe., $201,000 are reserve*! to retire Ilk®
amount of mortgage bonds of Oreensboro Klee. Go. and $1,172 100 are re
served for future impts and acquisitions under proper limit;utons V 88.
P; 1128: V. 104. p. 2343: $17,500 canceled for account of sinking fund,
$193,000 held Jn treasury and $17,500 in sk. fd. SubJ. to call on any
Int. date at 105 and int. Sinking fund of 1% per annum of gross Income.
July 1915 to 1919: 1 X % July 1920-1924. and 2% 1925 to maturity. The
remaining $108,000 Salisbury A Spencer Ry. bonds are reserved for future
extensions and Impts. $61,000 are held in treasury.
Are guar., p. A L.
by the North Carolina Public Service Co. Redeemable at 105 and Int.
on 6 months' notice.
EARNINGS.— For years ending March 31:
F isca l Y ear —
Gross.
N et a fter T axes.
Interest.
B a t., S u rp .
$124,762
$296,522
$171,760
1918-19...................$739,929
99,082
1917-18 . . . ............6 41,2 70
207,574 _ _ 168,492.
Passengers carried during year ending March 3t 1918. 3,818,623. against
3.930.827 in 1916-17.
ROAD.— Owns 27.41 miles of track. 60 and 70-lb. T and 90-lb. girder
rails. Standard gauge. 39 cars. 15 new “ Safety One M an" cars were
Installed in 1917. Connecting extensions between the various cities
are proposed. Electric plants capacity 2.800 horse power (also purchases
power from Southern Power C o.); 166 miles transmission lines. Gas plants
capacity 820,000 cu. ft. per day. 68 miles of mains; electric light customers,
5,232: power, 340; gas, 3,849; total. 9,421.
„
. _
OFFICERS.— Pres., O. B. Hole; V .-P.. Wescott Roberson; Sec. A Treas .
L. H. Hole Jr.; Gen. M gr., R. J. Hole.— V. 108, p. 269. 2635.
.
G U L F P O R T , M ISS.
QULFPORT & MISSISSIPPI COAST TRACTION CO.
ORGANIZATION.— Incorporated In Mississippi In 1905. Purchased
the Biloxi Electric Ry. A Power Co. and the Gulfport Development Co.
In 1907 Increased auth. stock from $1,000,000 to $2,000,000.
STOCK AND BONDS— D a te .
I n terest. O utstand ing.
M a tu r ity .
Stock $2,000,000 ($100).........................................
$1,000,000
.. .....
1st mort $1,000,000
gold/ 1905 6 g A-O
1.000,000 Sept 30 1935
($ 1 ,0 0 0 )...........................t flln t. at Hibernia BU. A T r O o ^ N . OH Trus
2d M gold ($1.000)_____ c t f ) 1907 6 g J-J
692.000 July 1 1932
i Hibernia Bank A Trust C o.. Trustee.
Bll. El. R y . A P 1st mt.ge..g./ 1903
0 g J-J ,
IP .4*) Jan 1 1924
($100 $500 A $1.000)__ tf Int. at Hibernia Bk. A Tr <'o.. N"w Orleans
Interest coupon debentures../__ _
6 A-O
130,200 April 1 1927
(in t. at First Nat. Bank, Gulfport.
N ov., 19:9.|
ELECTRIC' RAILWAYS
B o n d s .— T h e b o n d s o f 1 9 0 5 a r e s u b j e c t t o c a l l o n O c t . 1 In a n y y e a r a t
1 0 5 ; n o s in k in g fu n d .
I n t e r e s t o n 2 d m o r t . Is p a y a b l e a t F i r s t N a t . B a n k .
G u lfp o r t,
b o n d s h a v e n o s . f. a n d a re n o t s u b je c t t o c a ll.
T h e B ilo x i
E le c t r i c R a ilw a y & P o w e r b o n d s a r e s u b je c t t o c a ll a t 1 0 6 a n d in t e r e s t .
E A R N I N G S . — F o r y e a r e n d in g J u n e 3 0 1 9 1 8 , g r o s s . $ 2 8 3 ,3 6 1 ; n e t ,
$ 5 9 ,4 9 3 ; t a x e s , $ 1 5 ,2 0 7 ; i n t ., $ 9 8 ,9 1 3 ; d e f ic it , $ 5 4 ,5 4 9 .
In 1 9 1 7 . grass,
$ 2 6 9 ,7 3 6 : n e t , $ 1 0 4 ,2 6 7 .
R O A D — Operates 13 miles o f track from G ulfport to Biloxi and 11 miles
from G ulfport to Pass Christian; also 6 miles o f track In Biloxi: total, 30 m .
O F F I C E R S .— P r e s ., W . T . S t e w a r t : V . - P . , J o s . V a n C lo o s t e r ; S e c ., J . O
S im p s o n ; T r e a s .. P . A . S t llw e ll; G e n . M g r . , W . F . G o r e n f lo . a ll o f G u lf p o r t .
— V. 8 3 , p . 9 5 ; V . 1 0 5 . p . 2 9 0 .
H A G E R S T O W N , MD.
T H E HAOERSTOW N & FR ED ER IC K R Y. CO.
O R G A N I Z A T I O N . — I n c o r p . A p r . 7 1 9 1 3 In M a r y l a n d a s a c o n s o lid a
t io n o f th e F r e d e r ic k R R . . F r e d e r ic k G a s & E l. C o . , M y e r s v l lle & C a t o c tin R y . , H a g e r s to w n R y . , H a g e r s t o w n & B o o n s b o r o R R . . H a g e r s t o w n &
M y e r s v llle R R .. H a g e r s to w n & N o r t h e r n R R . a n d F r e d e r ic k & H a g e r s to w n
P o w e r C o . V . 96 p 9 4 7 , 1 422.
In 1914 p u rch a se d p r o p e r tie s o f th e F ro s tb u r g I liu m . & M fg . C o .
I n 1 9 1 6 a c q u ir e d c o n t r o l o f t h e P o t o m a c L t . &
P ow
C o . , M a r t in s b u r g . W . V a .
(V. 1 0 4 . p . 1 6 3 . ) Franchises a r e p e r
p e t u a l o r e x t e n d a t le a s t 1 5 y e a r s b e y o n d life o f b o n d s .
On N ov
3 0 191 7 a c q u ir e d c o n t r o l o f th e C h a m b e r s b u r g G r e e n c a s tle &
W a r n ok b o r o S t r e e t R y . C o . w h i c h s e e b e l o w , a n d i s s u e d $ 3 0 0 , 0 0 0 c o l l a t e r a l
t r u s t 5 % g o l d n o t e s In c o n n e c t i o n t h e r e w i t h .
V . 105, p . 2365O n M a y 19 1 9 1 9 t h e s t o c k o f th e N o r t h e r n V ir g in ia P o w e r C o . w a s p u r
c h a s e d b y in te r e s ts o p e r a t in g t h e H a g e r s t o w n & F r e d e r ic k R y . C o . , E . L .
C o b le n t z , P r e s , o f th e I I . & F . R y ., w a s m a d e P r e s id e n t o f th e P o w e r C o .
T h e o r g a n iz a t io n o f th e
& F . R y . C o . w ill o p e r a t e t h e p r o p e r t y o f th e
N o r t h e r n V ir g in ia P o w e r C o .
I t is s t a t e d t h a t t h e t r a n s m is s io n lin e s o f th e
c o . w ill b e c o n n e c t e d w it h t h o s e o f t h e N o r t h e r n V ir g in ia P o w e r C o . a t
M a r t in s b u r g .
C om p a re V . 108, p . 2022.
O n M a y 7 1 9 1 7 th e s h a r e h o ld e r s u n a n im o u s ly a p p r o v e d t h e p la n p r e
s e n te d b y th e v o t in g tr u s te e s p r o v id in g (a ) fo r th e r e t ir e m e n t o f th e th e n
e x is t in g $ 1 ,2 2 5 ,0 0 0 5 % c o n v e r t i b le a d ju s t m e n t b o n d s , $ 6 3 5 ,0 0 0 7 % c u m
p r e f . s t o c k a n d $ 2 , 0 0 0 ,0 0 0 c o m . s t o c k : ( 6 ) i s s u a n c e In l i e u t h e r e o f o f $ 6 0 0 , 0 0 0
1 0 -y e a r 6 % n o t e s . $ 8 4 2 ,5 0 0 6 % c u m . p r e f . a n d $ 1 ,5 1 2 ,9 5 0 n e w c o m . s t o c k .
T h e v o t in g t r u s t. F r a n k A . F u r s t, H e n r y H o ls a p e l a n d W illia m H . M c C a r d e ll, t r u s te e s , w a s d is s o lv e d .
T h is p la n w a s c o n s u m m a t e d o n M a y 9 1 9 1 7 .
F a r e s .— In J u ly 1 9 1 8 in c r e a s e d z o n e fa r e s f r o m 5 t o 7 c e n t s .
n.
STO CK AN D BO N D S—
D a te.
In terest.
O u tstanding.
M a tu r ity .
C o m m o n $ 2 , 0 0 0 , 0 0 0 ( $ 5 0 ) .....................................................
$ 1 ,5 1 2 ,9 5 0
............................
---------------8 4 2 ,5 0 0
_______________
P r e f e r r e d 6 % c u m u l a t l v e ( $ 5 0 ) --------1st * r e f M $ 1 0 .0 0 0 ,0 0 0 ($ 1 0 0 A 1 9 1 4
(Ig A -O
1 .3 4 7 ,0 0 0 A p r 1 19 4 4
$ 5 0 0 A $ 1 ,0 0 0 ) g s f . c . c p t l F i d e l i t y T r . C o . , B a l t . . T r .
I n t .p a y .ln B a lt .
H a g e r * M y e r s K y 3 1 2 5 .0 0 0 .
1904
5%
1 2 0 .0 0 0 J u ly
11921
H a g e r s & B o o r is h R y 1 st M J
1902
5 F -A
1 1 0 ,0 0 0 F o b
1 1922
$ 1 2 0 , 0 0 0 ( $ 5 0 0 * $ 1 ,0 0 0 ) c * l I n t . a t M a r y l a n d S . A T r . C o . ,
H a g erstow n .
Hagers *- Nor
1st* mtge 1 9 0 8
”
"RR
"
•
5 g F -A
2 0 0 .0 0 0 M a r 1 1927
$200,000 gold ($1,000. $500 I n t . a t M a r y l a n d S . * T r . C o . . H a g e r s t o w n .
T r u s t e e . W m . J e n n in g s .
and $ 100) .....................-,c *
Fred * Middletown 1st mtge 1 9 0 5
5 g J -J
1 2 6 .0 0 0 D e c
1 1935
$250,000 gold ($1,000)___c F i d e l i t y T r u s t C o . . B a l t i m o r e , T r u s t e e .
Fred Gas & Klee 1st M $200. 1 9 0 4
5 J -J
1 7 9 .0 0 0 J u ly
11929
000 g ($500*$1,000) g.p*l I n t e r e s t a t W e s t E n d T r u s t C o . , P h i l a d e l
p h ia , T r u s t e e .
by Fred R R. not sub to call
Monocacy Valley Ry first 1 9 0 8
5%
3 0 ,0 0 0
1925
mortgage________________ S t e i n e r S c h l e y * L e o n a r d W a e s c h e o f F r e d
e r ic k , M d . , T r u s te e s .
F r o s t b u r g III & M f g 1 s t M
1899
5 J -J
5 0 .0 0 0
J u ly 1 1 929
3 0 - y e a r b o n d s --------------------------l i n t , a t F i r s t N a t . B a n k . F r o s t b u r g . M d
C o lla t e r a l g o ld n o te s $ 3 0 0 ,0 0 0 c 19 1 7
5 M -S
280 000
S ept 1 1932
N o t e s ...
............................ 1 9 1 7
6%
6 0 0 .0 0 0
1927
S t o c k .— T h e p r e f . s t o c k Is r e d e e m a b l e a t p a r a n d dividends.
B o n d s . — O f t h e n ew $ 1 0 ,0 0 0 ,0 0 0 r n t g e ., $ 8 1 5 ,0 0 0 a r e r r w -r v o d t o r e t ir e
p r io r lie n s a n d r e m a in d e r f o r a d d i t io n s , im p t s ., & c ., u n d e r c e r t a in r e
s tr ic tio n s (V . 9 8 , p . 16 9 4 ; V . 1 0 4 , p . 1 6 3 ).
R e s e r v e d b o n d s w h e n is s u e d t o
b e a r I n t . a t r a t e o r r a t e s n o t e x c e e d i n g 6 % o r le s s t h a n 4 % .
S in k in g fu n d
b e g in n in g O c t . 1 1 9 1 9 . p a y a b l e s e m l-a n n .; till O c t . 1 1 9 2 6 . 1 % o f 1st & r e f.
6 s a n d p r io r H en s; 1 9 2 7 -1 9 3 4 . 2 % ; 1 9 3 5 -1 9 4 4 . 3 % . R e d . a t 1 0 5 a n d In t
o n a n y in t . d a t e .
T a x r e f u n d in P a .
T h e H a g e rsto w n & B o o n e s b o r o R y
b d s. a re red a t p a r. H a g e rs. & N o r . R R . b d s . a re
s u b j.t o c a ll a ft . 1917
F re d . & M id d . b o n d s a re r e d . a t 105 o n a n y in t.
d a te. F red . G as * E l
b i n d s a re g u a r ., p . & I ., b y F r e d e r ic k R R
E A R N I N G S .— F o r y e a r s e n d in g
—
D ec. 31:
Gross.
1 9 1 8 ....................................................... $ 7 1 8 , 6 3 2
19
7 .................................. - ................. 6 0 4 . 7 1 1
1 9 1 6 .......... .............................................. 5 3 0 , 5 0 5
M et. D e d u c tion s.
$ 2 4 7 ,2 4 4
2 4 6 .6 8 8
2 2 4 ,5 5 6
Surplus
$ 2 0 8 ,9 4 3
1 8 4 ,7 6 6
1 6 5 .8 1 9
$ 3 8 ,3 0 1
6 1 ,9 2 2
5 8 ,7 3 7
. R O A D . — O p e r a t e s s t r e e t r a i l w a y s In c i t i e s o f H a g e r s t o w n a n d F r e d e r i c k
M d . . a n d a n In te r u r b a n r a ilw a y e x te n d in g fr o m F r e d e r ic k t o H a g e r s to w n ,
w it h e x t e n s io n s fr o m F r e d e r ic k t o T h u r m o n t . M d . , a ls o fr o m H a g e r s to w n to
S h a d y O r o v e . P a . , a n d w i t h b r a n c h lin e s t o B o o n s b o r o a n d t o J e f f e r s o n . M d .
M ile a g e o p e r a t e d a g g r e g a te s 8 7 .5 m ile s .
T h e c o n tr o lle d C h a m b e r s b u r g
G r e e n c a s t l e * W a y n e s b o r o S t r e e t R y . o p e r a t e s 31 m i l e s o f t r a c k f r o m B l u e
R id g e S u m m it t o C h a m b e r s b u r g .
T h e e x te n s io n fr o m C h a m b e r s b u r g to
R e d B r id g e P a r k w a s le a s e d t o t h e C h a m b e r s b u r g * S h lp p e n b u r g R y . o f
C h a m b e r -s h o r e . P a .
O F F I C E R S .— P r o s ., E m o r y L . C o b le n t z , F r e d e r ic k , M d . ; V . - P s . , H e n r y
H o lz a p fe r , H a g e r s t o w n , a n d F . H o w a r d W a r fie ld , B a lt im o r e ; S e c ., M . P .
M o ll e r , H a g e r s to w n ; T r e a s ., T h o m a s H . H a lle r . F r e d e r ic k : G e n . M g r ..
M . A . P o o le r .— V . 1 0 2 , p . 1 8 1 1 : V . 1 0 4 . p . 1 6 3 , 1 8 6 3 , 2 0 1 0 ; V . 1 0 5 , p . 3 8 9 ,
909, 2365; V . 106. p . 2757; V . 108, p . 2022.
’ P
(a )
C h am bersbu rg
G r e e n c a s t le
&
W ayn esboro
N ov
3 0 191 7 th e H a g e r s to w n & F r e d e r ic k R y
a c q u ir e d
O R G A N I Z A T I O N .— I n c o r p o r a t e d in P e n n s y lv a n ia o n
o w n s a n e le c t r ic -lig h t p la n t ; c a p it a l, $ 5 0 ,0 0 0 .
STO C K A N D BO N D S—
D a te.
C o m m o n $ 3 0 0 . 0 0 0 -----------------------------------P r e f e r r e d $ .3 0 0 , 0 0 0 n o n - c u m . . . . . .
In terest.
S treet
c o n t r o l.
J u n e 17
Outstanding.
---------------__________
$ 3 0 0 ,0 0 0
3 0 0 .0 0 0
Ry —
1901;
M a tu rity
_______________
First mortgage $300,000 gold 1903
5 g J-J
300,000 JulyT l933
($100 and $500)...........c*tf Interest at Chambersburg Trust Co., Trtutee
Second mortgage $300.000 1907
5 * A-O
299.500 Oct 1 1937
($100 and $500) go!d..c*tf Int. at Chambersburg Trust Co.. Trustee.
1st----ref-----------------------mtge $ 1 ,000,000 ($100
------- 1910
5 A-O
193.900 Apr 1 1940
and $500)_____________ tfUnt. at Chambersburg Trust Co.. Trustee.
Bon/s.— First mtge. bonds nave no sink. fd. ana are not subj. to call.
2d mtge. bonds are subj. to call on any Int. period at 105. No sink. fund.
Remaining 1st ref. bonds are reserved to take up underlying bonds and for
extensions and Improvements.
EARNINGS.— Years ending Doc. 31;
Year—
Gross.
N et.
Other In c.
Deduct'ns. Surplus.
1918...................... $222,665
$78,7.34
$3,650
$60,969
$21,415
1917
................ 176,667
78,297
2.363
57 595
23,065
ROAD —See Hagerstown * Frederick Ry. above.
OFFICERS.— Pres.. Emery L. Coblentz; V.-P., W. L. Minick: S e c . ,
D. N. Benedict: Treas., J. P. Shank; Asst. Treas. & Div. Mgr., R. D.
Sefton; Gen Mgr., M . A. Pooler; Gen. Aud., R. E. Town. V. 90, p.
236; V. 92. p. 186; V. 105. p. 38S.
H A M PTON, VA.
NEWPORT NEWS & HAMPTON RY.. OAS & ELECTRIC CO.
Allen & Peck, Inc., of Syracuse, acquired control of the common stock
In June 1916 at $30 per share.
About 10.500 shares of the common stock
have been placed In a voting trust for 5 years (to 1921). Voting trustees
are: Moreau Delano, New York; B. Howell Griswold Jr., Baltlmore.'aud
O. Loomis Allen. Syracuse.
ORGANIZATION.— This company was organized In 1914 as the consoli
dation of the Newp. News & Old Pt. Ry. & Elec. Co., Citizens* Ry. Light
* Power Co., Hampton Roads Traction Co., Newport News Gas Co. and
th* Hampton Phoebus * Fort Monroe Oas Corporation and provides rail
way, gas and electric light and power facilities for the Virginia Peninsula.
Franchises — For electric light and power, perpetual; Tor street railways
practically none expires before 1944. Oas franchises In Newport News are
perpetual, subject to right of purchase or property by city (for 6 months in
1927); In Hampton, gas franchise expires In 1936. Interurban lines largely
on private right of way
,
.
The Hampton & Langley Field Ry. was Incorp. In Virginia In Feb. 1917
with $25,000 capital (increased In Oct. 1917 to SIOO.OO*), to build a line
53
3.1 milos long between the points named. The line will be built, and opera
ted under tr-afTSc agreement by the Newport News & Hampton Ry.. Gas *
Electric Co.
In Augus 1917 the authorized capital stock was Increased from $1,125,
000 common and $1,250,000 6% cum. pref. stock to $2,000,000 commoD
and $2 000.000 7% cum. p-er. stock. In Dec. 1317 the $1,000,000 6%
pref. stock outstanding was exchanged for $850,000 7% pref and $150 000
com. stock. The pref. stockholders have agreed to take $250,000 addi
tional pref. stock at par, to be issued for construction requirements, $6,900
ol th's stock had been issued to Dec. 8 1917. V. 105. p 2272.
STOCK AND BONDS—
Date Interest.
Outstanding
Maturity.
Common $2 000,000...............................................
$1.275.000 May *18 5%
Preferred $2,000,000 7% cum--------7 J-J
856.900 See text.
1st* ref M $7.500.000 *($1001 1914 5 g J-J
3.734.000 Jan 1 1944
$500 * $1,000)______ c* tf |Maryland Trust Oo. of Baltimore. Trustee.
Newport Mens it Old Pt. Ru. <t El.—
First mortgage $900,000 gold ( 1898 5 g M-N
900,000 Nov 1 1938
($1,000 each)...............c* tflInterest at Alex. Brown & Sons. Balt.. Md.
General mtge $4,000,000 gold | 1901 5 g M-S
44.000 Mar 11941
($1,000 each)................ _c*(Int. at Alex. Brown* Sons. Baltimore. M d..
I or at company s agency In New York.
First mtge Citizens* Ry L * Pi
1900 5 g M-N
69.00b May 1 1940
$800,000 ($1,000) gold..c*j Maryland Trust Co., Baltimore. Trustee.
Guaranteed prlti * Int___ [Interest at Alex. Brown* Sons, Baltimore.
Hampton Roads Trac 1st M .. 1905
4 44 J-J
68 000 JaD 1 1930
Bands.— Of the first and ref. bonds, $1,081,000 are reserved for prior liens
as above.$3,000 are In treasury and the remaining $2,682,000 are for Impts.
* ext* Bonds subl to call at 105 & Int. on any Int. day upon one month’s
notice. Int. payable at Alexander Brown & Sons, Baltimore, or company’s
agency In N. Y. Tbs Maryland Tr. Co.. Balt.. Is trustee of both the first
and general mortgages of the Newport News & Old Point Railway &
Electric. The Newport News & Ola Point bonds of 1898 are subject to
call at 110 on any Interest day at 60 days notice. The Citizens’ Railway
Light & Power Oo. bonds are subject to call at 110 on any Interest day on
80 days' notice. Remaining Newport News & Old Point Ry. & El. gen.
M. 5s, Citisens' Ry. L. & P. 1st M. 5s and Hampton Roads Trac. 1st M .
444s are deposited under the Newport News & Hampton Ry., Gas & Elec.
1st & ref. M.
Dividends.— Dlvs. have been paid regularly on pref. stock. A div of
3% on the common stock was paid July 1 1916; in 1917, May, 5% ; in 1918,
May, 5% .
EARNINGS.— For year ending Dec. 31:
Calendar
Gross
Net (after
Other
Interest,
Balance.
Year—
Earnings.
Tates).
Income.
Rents A c.
Surplus
1 9 1 8 .............$2,168,486
$611,034
$8,399
$255,306
$364,127
1917 _______ 1,357,308
5 40,284
2,917
255,918
287,284
Latest Earnings.— For 6 months ending June 30:
$341,064
$1,915
$139,798
$203,181
1919 ............. $1,321,845
1918 ......
944,849
269,194
3,954
122,410
150,738
PROPERTY.— Owns and opo-ates 48.59 miles of tracts. Power plant
with 10.300 k w. capacity; 2 gas plants; electric-lighting system.
OFFICERS.— Pres.. J. N. Shannahan: Vlce-Pres. & Gen. Mgr.. E F.
Peck; Treas., Wm. Stewart; Sec., Richard M . Booker, all of Hampton.
Peck-Shanahan-Cherry, Inc., operate the road.— V. 105. p. 716. 812. 998.
2272; V. 106, p. 602, 1231, 2117: V. 107, p. 1101, 1837; V. 108, p. 1512.
HANOVJSK, PA.
HANOVER & McSHERRYSTOWN STREET RAILWAY CO.
In Nov. 1916 control was acaulred by the Keystone Utilities Co., which
see under Scranton, Pa. Operated by United Service Co.
ORGANIZATION.— Incorp. In Penna. In 1892. Its charter runs Tor
999 years. Owns all the ($100,000) stock of the Hanover Light Heat &
Power Oo.
Fares.— In September 1918 Increased fares to 6 cents.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $200,000 ($ 5 0 )................... .......................
$135,000 1918, 10%
First mtg $500,000 g ($1,000) 1 1908
5 g J-D
400.000 June 1 1928
subject to call at 1 05..c*tf (Interest at York Trust Co.. York. Pa.. Trus.
Bands.— Of remaining bonds $100,000 are reserved for extensions. &c.
Dividends.— In July 1894. 244%; In 1895. Jan.. 2 44; 1897-1902 records
lost. 1903 and 1904 none. In 1905. Jan.. 6 % . In 1906 aud 1907. none;
Jan. 1908 to Jan. 1913. bid., 6% per annum. In July 1913 50% stock
div. paid: Jan. 1914 (reg.), 4 % ; July, 2 % . In 1915, Jan., 3% . In Dec.
1917, 9% ; in 1918, 10%.
EARNINGS.— For calendar years:
Year—
Gross. Net,aft.Tax. Bond Int.,&c.
Balance.
1918.................................... $71,175
$38,274
$20,260
sur.$18,014
1917..................................... 122,890
41,407
20,399
sur. 21,008
ROAD.— Owns 11.6 miles of track In and between Hanover. McStierrystown. Llttlestown and Oonewago Ohapel. Standard gauge. 65-lb. T and
girder rails
OFFICERS.— Pres., F. B. Atherton; V.-P., E. H. Ramsbothan; Sec. *
Treas., J. J. Grace.— V. 100, p. 1257; V. 103, p. 2340.
H A R R IS B U R G , PA.
HARRISBURG RAILWAYS.
ORGANIZATION.— Incorp. In Penn, on Nov. 29 1912 and merged
the Central Pennsylvania Traction Co. (see “ Electric Railway” Section of
Sept. 1912) and Its subsidiaries. V. 96. p. 202.
Strike.— On July 16 1916 the company's men went out on strike and
operation* were hampered for about four weeks, but early In Sept. 1916,
Pres. Musser reported that service and receipt* were back to normal
Fares.— In Sept. 1918 filed with the Penn. P. S. Comm, a new tariff
providing for a 6-cent fare effective Oct. 1 1918. V. 107. p. 1192.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
O nCommon $3.000.000............... ............
............
$.3,000,000
Pref 6% cum $2.100.000-------------See text
2.100.000 Oct’17 1 %
First * ref. mtge $10,000.0001 1912
6 J-D
3.169.900
1963
($1,000 and $500).........tf (Harrisburg Trust Co.. Trustee.
Citizen*' Passenge# first mtge! 1894
6 g M-N
75.000 May 1 1924
$75,000 gold - - - - - - ......... 1Int. at Cora’w’th Guar. Tr. Co.. Harrisburg.
STOCK— Pref. «tock was cum. at 5% until Jan. 1 1915: since. 6 % .
Dividends.— 344% was paid on oref. stock In 1913. In 1914. 5 %
In
1915, April. 2 44%: Oct.. 1% . In 1916. April. 1>4%. In 1917. April .144 % ;
Oct .1 % . None since.
* 0’
EARNINGS.— For calendar years:
_ . .
_ Total
Net
Int.,Rents., Pref. Balance,
Period—
Earnings Earnings. Tai&Depr. Dies. Surplus.
Calendar year 1918........ $1,302,604 $555,208 $542,486
None $12,722
Calendar year 1917--------- 1,191,099 581,684 489.285 $57,750 34.649
Calendar year 1916 _1 033.802 569,264 4S9.991
31,500 47,773
ROAD.— Owns 12.47 miles and leases 61.04 miles of line. Total op
erated, 73.51 miles.
r
OFFICERS.— Pres. & Gen. Mgr.. F. B. Musser, Harrisburg; Sec., John
O’Connell. Office. Harrisburg.— V. 96, p. 209; V. 98, p. 155; V. 101 d
1013, 1272; V. 104, p. 1591; V. 107. p. 1192.
'
' P
VALLEY RAH.WAYS.
ORGANIZATION.— Incorporated In Pennsylvania In July 1912 and In
fep*- 1912. after Increasing its stock from $10,000 to $2,500,000 (of which
$500,000 is 6% cum. pref.), purchased control of the Valley Traction Co
lpturn controlled the Harrisburg* Mechanlcsburg Elec. Ry.. White
Hill & Mechanlcsburg Pass. Ry.. Carlisle * Mechanlcsburg St. Ry.. West
Falrvlew * Marysville Elec. St. Rys., Harrisburg * Riverton St. Ry„
Falrvlew * Riverton Ry and the United Electric Co
Fares. On Sept. 11 1919 the Penna. P. S. Comm, handed down a decision
sustaining the 7-cent fare charged by the co. V. 109 p 1181
Valuation.— See V. 109. d . 1181.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $2,000,000 ( $ 1 0 0 ) ..____
_____
$2 006006
Pref cum $500,000 ($ 100) .................
6%
000 ...................
Collateral trujit $1 700 060 tf 1912
5%
l.OOOioOO Aug‘ 3'l952
Valley Triw 1st M $700 0001 !9 ° 3
5 g A-O
700 000 Oct 1 1933
gold ($100 & $500) ..c *n tf tint, at Farmers' Tr. Co.. Carlisle. Pa.. Trus.
Bcmds.— Remaining coll trust bond* ($700,000) are reserved to retire
prior liens. Valley Traction bond* are subject to call at 110. A sinkino
DBr »nnura commenced Oct. 1 1908
EARNINGS.— For year ending Dec. 31 1918. gross, $378,843: net, after
tax,?*'A l 23 ’ L63' In 1917- 8toss, $329,809; net. after taxes. $133,813.
f*OAD;—Operates 44 mllee of road from Harrisburg to Marysville and
to Carlisle.
OFFICERS.— Pres. * Gen. Mgr., O. H. Bishop, Lemoyne. Pa.; Sec. *
Treas.. O. M . Davidson. General offices. Lemoyne.— V, 109, p. 1181.
ELECTRIC RAILWAYS
[V
o l
.
109
(1) Lehigh Traction Co.— A trolley road.
ORGANIZATION —Chartered Nov. 7 1892. F r a n c h i s e perpetual.
Owns, controls and leases for 999 years at an anuual rental of $1 each the
Hazleton A .Suburban Electric Ry.. capital $30,000. Hazleton A South
aid* Electric Ry.. capital $75,000: Hazleton A North Side Electric Ry..
eapltal $75,000. The $140,000 certificate# of indebtedness and $922,200
of Lehigh Traction stock are deposited as security for the Wilkes-Barre Sc
Hazleton RR. bond" of 1901.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
_______
$ 1,000 000
............. atoek $ 1 J)00.000 ($ 100) __________
First mortgage $500,000 gold) 1893
5 g J-D
500.000 June I 1923
($100. $500, $1.000)----- c*|MarkIe Bkg. A Tr. Co., Hazleton. Trustee.
140 000
- - ___
Certificates of Indebtedness_ - Hazle Park bonds, $50.(MM)___ 1895 5 g A-O
60.000
1925
Eon 1p trust ctr*. Series A ___ 1915
F-A
36 000
1925
Th# equipment trust certificate# cover 10 steel cars and mature $3,000
seml-ann. Penua. Oo. for Ins. on Lives A Granting Annuities. Phila., Pa.,
Is trustee.
ROAD.— Operates 20 mile* of track, new 90-lb. steel T rails, oak ties, well
ballasted. Road extends from Hazleton to West Hazleton, to Yorktown
(connecting with Pennsylvania RR. and Lehigh Valley RR.), to McAdoo
(south) and Mllnesvllle. Latimer Mines and Freeland (north).
(1) Massachusetts Northeastern Street Ry. „
.
„
All the stock of this company is owned by the New Hampshire Elec. Rye
OFFICERS.— Pres., A. Markle; V.-P., O. B. Houck; Sec. and Treas.
ORGANIZATION.— A Mass, corporation. Owns and operates a loca1 N. C. Yost; Gen. Mgr.. O. B. Houck.— V. 99. p. 984. 1598. 1673.
and interurban railway In Northeastern Maas, and Southeastern N. H
(2) Wilkes-Barre & Hazleton Ry.— A trolley, steam and third-rail road
Maintains a through service between Haverhill I^wrence Lowell Nashua
ORGANIZATION.— Chartered Dec. 13 1899 under General Railroad
Amesbury and Newburyport. Power la purchased from the Rockingham
Law
Act of April 4 1888. State of Pennsylvania. The Wilkes Barre A
County Lt ft Pow. Co under a contract extending beyond July 1 1934
Hazleton RR. own* the entire stock and bond".
F a r e s . — On Nov. 1 1916 was authorized by the P. S. Comm, to Increase
single cash fares from 5 to 6 cts. and the price on ticket books by 20%.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
On July 1 1918. however, was auth. to go back to the 5-cent fare and Stock *1.500,000 full paid___ _____
_
.
*1.500,000
........... adopt a" zone system under which fare sections were divided into two zones First mortgage $1.500.000T 1901
5 g M-N
1.500.000 May 1 1951
with a minimum cash fare of 5 cts. for each zone or portion thereof; tickets,
gold-------------------------------- (Interest at Guaranty Trust Co., N. Y .. Trus,.
good for certain hours of the day, being sold at the rate of 10 for 75 cts. On K<juip trust ctfs. Series A ___ 1915
F-A
48.000
1925
Dec. 12 1918 was authorized by the I.-3. C. Commission to increase
The equipment trust certificates cover 10 new steel cars and mature
commutation rates over certain lines. Compare V. 107, p. 602. In $4,000 aaml-ann. Petina. Co. for Ins. on Lives A Granting Annuities,
Sept. 1918 filed with the Mass. P. S. Comm, a new tarifr effective Phila., Pa., Is trustee.
Oct. 14 1918, increasing fares from 5 cents to 6 cents. V. 106, p. 1192.
Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses
In Nov. 1918 again filed a new tariff, effective Nov. 14 1918. increasing forROAD.—
terminals 1 mil# Lehigh Traction Co. track at Hazleton and 3 miles
fares from 6 to 7 cents. V. 107. p. 1920. In April 1919 the company filed VVIIkee-Barre
Terminal RR Co. track at Wilkes-Barre, total. 31 miles.
a still higher tariff, effective May 23 1919, increasing single cash fares to
,n operation May 1 190(4. Ralls. 95 lbs.
10 cents. On May 21 1919 the I.-S. C. Comm, approved an increase in
OFFICERS.— IT*#.. Alvari Markle: V.-P.and Gen. Mgr.. O. B. Houck;
local fares. V. 108, p. 2123.
Sec. and Treas., N. C. Yost.
Outstanding. Maturity
STOCK AND BONDS— Date.
Interest.
(a) Wilkes-Barre Terminal RR.
$1.500,000 ...................
Common stock ($100)------- ------------------- Entire stock and bonds owned by W. B. A Hazleton RR
665 000 ...................
Pref 6% cum ($100)..........................
6%
_ J-J
807 000 July 1 1934
5c
First and ref M $2,000,000 1914
ORGANIZATION.— Incorporated on Oct. 9 1903
Stock authorized
($1,000) gold...................c* Int at Amer Tr. Co., Bouton. Trustee
and outstanding, $35,000 (par $50). Bonds authorized. $600,000 (cAr);
5 g J-D
230.000 Dec 1 1920.
Citizens' Elec St Ry 1ft M 1900
Date 1905; due Oct. 1 1945. Int. (5 g. A-O) payable In New York.
Beacon
Trust
Co..
Bos
too
Trustee.
$230,000 gold..................
_
W. B. Ter. RR. June, and Wilkes-Barre.
5 « A-O
03.000 Oct 11919
Amesbury A Hampton 1st M 1899
T; gauge, 4 ft. $44 In. Pres.. O. J. Klrschner; Sec.-Treae..
gold $ 100,000 ($1.000)------ lnt. at Beacon Tr. Co., Boston. Trust**
N. C. Yost.
Bonds.— The 1st A ref 5s of 1914 ars red at 110 and Int. on anv Int date
uO 43 davs' notice. Of the remainder of these bond* auth $293,000 are
reserved for prior liens and $900,000 reserved for cost of additions and
xxbijjbxva, m u n i .
Impts under certain restriction* (V. 100, p 55).
THE HELENA LIGHT A RAI LWAY CO.— Trolley, electric light and
EARNINGS.— For year ending Dec. 31 1918. gross, $782,204; net, after power,
gas
light
and
fuel.
taxes. $87,710. In 1917, gross. $850,823; net, after taxes, $114,270.
ROAD Ac.— Owns and operate* about 12(1 miles of single track (HO mile* __ORGANIZATION.— Incorporated In Connecticut In Sept. 1905 am sueManor to tna K«lrna Light k Traction Oo. V. 81. d 104J. Controls the
In Mass and 4(1 in New Hampshire), extending ew«» and west from Haver
uas Llyht k ('’oka Oo.; comorl-*** tha <!ity'« «ntliv itr©«t railway,
hill Mass, entering on the east Newburyport. Merrlmac Salisbury and
*nc*
llcht plant*, f'rmnchittin expire April 4 192ft
Amesbury.’ Mas*., and Plaletow and Newton, N H . and on lh« west *
Decision.— The Montana 3up. Court In Feb 1913 held th*t city could
Lawrence Methuen and IJracut. Mass., and Salem Pelham and Hudson
®* .if08 ,an ordinance which required the company to light It* tracks
N H. Enter*Lowell and Naebua under trackage rights. Owus and eper
the city limit* without expense to rh» cltv —««• V 06 ,, 1403
atea local lines in Newburyport and Amesbury Connects with the Pay witFbln
a res.
In July 1918 applied to the Montana Utilities Comm for auth.
State St Ry. Mancheeter A Nashua St Ry and the Exster Hamntnn to increase
fares from 5 cents to 10 cents. Up to Sept. 1919 this had not
A Amesbury St. Ry. Also owns a large amusement park on Canoblr Lak* been granted
In Salem. N. H. 80 open and 49 sloeed cars and 25 work car* and snow
UTOCK AND!BONDS—
Dais.
Interest. Outstanding
Maturity'
1161 OOd Feb 18 1%
5,<<TFFICERS.— Pres., D. A. Belden; V.-P. A Treas., F. E. Webster; V.-P. Common $900,000 ________
Preferred $600,000 SV, cum . T. .
5 Q-F
:474 0(10 Nov 18 1 2
A Gen. Mgr., Ralph D. Hood.— V. 108. p. 1511. 1721, 2123.
1005
5 g M-8
1.041.000 Sept I 1925
(2) Dover Somersworth & Rochester St. Ry.
gold (* I BOO)
c*nnt at Columbia Tr. Oo.. N. Y., Trustee
All the stock and $220,000 bond* owned by New Hampshire Elec. Rys
— The 1st M. bonds are sub], to call at 105 and Int.; $219,000 are
reserved
for
extern,
and
Impts
at
35%
of
cost,
and
$56 000 in addition to
ORGANIZATION.— Chartered under the laws of New Hampshire. Is
amount reported ouutan lbi? are in treasury
A sinking fund of 1 ti 'Z pur
a consolidation of the Union Elec. Ry. and the Rochester St Ry.
ann. of bonds out commenced June 1 1908 and was Increased to 2 « %
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
per annum lu«« 1 1916; eald fund tobe used In retirement of bond* at not
Stock $375 000 ($100)-------------------------------$375,000 ------------higher than 105 and Int.
V 81. p 15.40 *|H2.0OO have been retired.
Find mtge g *300.000 (* !.-[ 1901
5 g J-J
^ «*e text July-1 1921
D i v i d e n d s . —- 5 % P e r a n n u m in q u a r t e r l y I n s t a l l m e n t s w a s p a i d o n p r e f .
000); hds cannot be called) Int. at A m *. Tr. Co.. Boston. Trustee
1'
IP.L8 '
N o n e s in c e .
F ir s t d lv . o n c o m ., 1 % , p a id
Bands— All the bond* sweep* $74.0*0 are ewned by New Hampshire r v ^ V3 t\0 ^t o9 n0 e3 TtnCT
, V o ta0 0 r ’c/3 % ’r i n 1 9 0 9 . 3 % .
In 1910, 4 % .
In 1911 a n d
Elec. Rys. Co. Sink fund of *5.000 per ann began In 1904
N
o
n
e
s
i
n
c
e
1
1
9
1
3
’
5
%
‘
I
n
1
9
1
6
a
n
d
1
9
1
7,
In F e b - 191S ’ 1 % EARNINGS.— For cal. year 1918, gross. $112,414: net, after taxes.
$15 107
In 1917, gross, $118,379; net, after taxes, $17,972. In 1916,
EARNINGS.—
G ross
Net (after
In ter es t,
B a la n c e ,
C a le n d a r Y e a r —
E a r n in g s
gross, $116,161; net, after taxes, $22,748.
Tares).
A c.
S u r. o r D e f.
1918..................................... $315,114
$19,072
$52,150
ROAD.— Owns and opera!** about 21 mils* of line.
Uef. $3,078
1917..................................... 346,836
124,697
78,212
sur. 46,485
OFFICERS.— Same as for Massachusetts Northeastern 8t. Ry.
ROAD.— Operates 22 25 mile# of track.
OFFICERS.— Pros., P. o . Oossler: V.-Ps., J. H. Pardee, A. Coppell.
R. B. Marchant and O. W. McConnell: Sec. A Treas., T. W. Moffat;
H A Z L E T O N , PA.
Asst. Sec. H. B. Brown (all of New York), and Asst. Sec. A Asst. Treas..
A. .
Helena. Operated under the general management of . 1. 0.
WILKES-BARRE A HAZLETON RR.
Mgt. Oorp.f New York City.— V. 91, p. 1095; V. 9ft n 1422
ORGANIZATION.— Incorporated In New Jersey May 1901 and acquired White
V. 106, p. 1035: V. 107, p. 181.
p'
the entire ($1 500.000) capital stock and ($1,500,000) bonds of the Wilkes
Barre A Hazleton Ralhrav Co. (Pennsylvania Incorporation) and deposited
ths same together with $140,000 ttottrs issue) of the Lehigh Traction Co.'s
H O L Y O K E , MASS.
5% certificate* of Indebted news and $922,200 of the $1,000,000 stock of
HOLYOKE STREET RA IL WAY.— Trolley.
the 1e.hlgh Traction Co. a* security for the Wilkes Barre A Hazleton Rail
road Co tswue of first collateral true* mortgage 5% gold bonds. V 72
ORGANIZATION.— Incnrp in Mass. June 11 1884. Leases the Mt.
p 1281 ' Franchise! are 999 years in and around Hazleton and psrpetua
Torn fnclln#) RR. until Tunc 1 1922 at 6% per annum on the $100 000 stock’
In
1907 purchased th# Hampshire Street Ry (previously loused) V S.q"
‘Znds.— Thl\Ur*\5 i9H interss* on the collateral trust astge
p 40. In Aug. 1907 purchased thr Ambers* A Sunderland Street Ry (V ,85*
Of 1901 due Mar 15 1951 was not paid whan due
In lieu of waylug the p
294).
interest bomi holders were requested to surrender their coupons due l»t II derland . giving a through connection from Holyoke to Amherst and Sun
1914 to Nor 15 1918, and is return th# company issue,l non-InlecwChewrln/
Fares.— On Feb. 17 1918 was auth. by the Mass. Public Service Comm to
Certificates for the coupon* as they hewmie due
V •*» P
Jh*
default wne th# result of a ssrfke of the employees of ih# Lehigh Tract on Increase fare for long hauls to 10c. In Dec. 1918 the oo.’s petition for a
contraction of Its tone system which would have Increased its revenues by
Co n subsidiary. ^ he interest due May lo 1914 was paid Jwu 15 1916
$235,743 was rejected by the P. S. Comm, and a tariff Increasing the revenue
and that dim Nov. 15 1914 was paid Nov. 20 1916. A supplemental agree
by not more than $145,393 was authorized instead. V. 107, p. 2470.
ment, dated Feb. 15 1918. was made between the company and the bond
UTOCK—
Date.
Interest. Outstanding .Uaiority ,%c.
holders by which the remaining unpaid past-due coupons were extended Tor
a further period of five years, or a total of ei*ht yf*an» from th« onto on Hook ($100*..................................
J-J
*1.342.000
See text.
R A-O
850.000 April I 1935
which thev ortrinally fell due. Coupons affected are those for May 15 Ftn.t morigags. $2,500,000,1 1915
gold $ 1,0 0 0)---. . . c* ’ lnt at Sprlngf Safe Dep ft Tr Oo. Trustee
1915. Nov. 15 1915, May 15 1916 and Nov. 15 1916- 1917. 1918 and May
Deb bds ($300 . $1,000)c* ntf 1399
5 A-O
85.000 Oct. 1 1920
1919 interest paid when due.
Debenture bonds..
ntf 1903
5 A-O
J65.000 April 1 1923
STO CK AN D BONDS—
D a te.
In te re st.
Outstanding. Maturity
Leased line rental Mt Tom RR
Com non $2,500,000 ($100).............
............
$2.500000 .................
stock 6 % .........................................
6
100.000 ...................
Pref 4% non cum $700.000________
_______
145 800
----- - - Ronds —$350,000 1st M bonds sre reserved to retire the debenture bonds,
Collateral trust mortgage $2,-1 1901 5 g M-N 15 1,900 000 May 15 1951 remainder
Issuable
for
additions
and
Impts
under
certain
restrictions. Red.
500.000 gold ($1.000)
e*JInt at Guaranty Trust Co , N Y Trustee
Collateral trust mortgage $ 1 1 9 0 5 5 g A-O
1.227.000 Oct 1 19*5 at 107 and Int. on stid after April 1 1930 V 100 p 932
Interest
on
debenture
bonds
parable
at
Holyoke
National
Bank.
500.000 gold ($1.000)___ cllnt. at Guaranty Truet Co.. N. Y Trus'e*
I H e i H e n d t . — From 139? to 1915, Incl
8 % yearly
In 1 9 1 6 R '%
In
B o n d s and .Stork.— Of the authorised Useie of $2.300.000 coll. trust bonds of
1901 $800 000 are reserved to rewtrs all bonds of th# Lehigh T-aetion Co. A Jan. 1 9 1 7 . 3 % : July. 1 ) 4 % . In 1 9 1 8 , Jan. 1 H % ; July d l v . o m i t t e d
(
V
.
'
1
0
7
,
p
.
2
9
1
)
.
N
o
n
e
s
i
n
e
n
.
sinking fund of $20,000 per annum which began June 1 1008, Is to be in
vented in the collateral truet bonds or In bonds purchasable by saving,
ROAD,— Has 72.31 mile* of track. Including Mt. Tom (incline) R k ,
banks in New York State. See V 72. p 1281 V 78. p 289. The collateral
4,900 feet long, and connecting with the tVoronocn Street Rv to Westfield,
trust bonds of 1905 have a sinking fund of $10,000 per annum, which began Vii.as., with Springfield At. Ry. to Springfield. Mass and with Northamp
in 1910 Bonds can be called at 110
Preferred stock can at option of ton St Ry. to Northampton. Afass. and direct to Chicopee.Chicopee Falls,
ttouth Hadley, Amherst and Sunderland. Passenger cars. 141; other ser
company be changed at any time Into the bond* of the company, at par
vice car*. 27: snow plows 13- other vehicles. 7: electric motors. 269
■aid bonds to bear not leas than 5 % . or may be red. at par In cash.
EARNINGS.— For cal. years (Incl. allied companies):
EARNINGS.— For years end. Dec. 31;
Cal. Year—
Gross.
Net. Int..Tax..Ac. Dividends.
Sal., Sur3
Year— Gross.
Net.
Taxes.
Int.
Res. A Depr. Deficit.
1918 ...............$706,281 *120.528 $117,755
None sur.$2,77
1918 ---$570,248 $222,660
$16,753 *189,218 $115,841
$99,152
1917 ......... 510,127 227,447
16,244 189,792
110.588
89.177
1917'............... 717.538 159.720
119.001
(4 ^ ) 40.260 sur. 459
OFFICERS.— Pres.. A. Markle; V.-P. A Geo. Mgr.. O. B Houck.
OFFICERS.— Pres. A Gen. Mgr., Louis D. Pelllsler; Sec. A Treas.
Sec N C Yost; Asst. Sec., A. Markle Jr.; Treas., Wm. H. Remick.— 8 D. Nevln; Asst. Gen. Mgr., Geo. E. Pelllsler: And.. G. F. Dlnneen,
all of Holyoke.— V. 107. p. 1384. 2008. 2376. 2470; V 109
V . 83. p. 1292; V. 87. p. 679; V. 93. p. 1539.
H A VE R H ILL, MASS.
NEW HAMPSHIRE ELECTRIC RYS.
ORO. ANIZATION.— A voluntary association succeeding the New TTamp
shire Traction Oo. on Aug 24 1905. Owns all the stock of the fo'Iowin,
ompanies: In New Hampshire. Dov.. Somersworth i Rochester 3t Ry
Co.; Rockingham County Light A Power Co.; Newmarket Electrjc Co
(V. 103 p. 499); Granite State Land Co.; In Maine. Kittery Electric Light
Co.; in Mass., Mass. Northeastern St. Ry. Co. Also owns all the bonds of
the Dover Somersworth Sc Rochester St. Ry. (except $74,000), of the
Amesury & Hampton St. Ry. (except $47,000) and or the Citizens’ Elec
St. Ry. (except $230,000).
STOCK—
Date.
Interest. Outstanding.
Last Div
Common $4,000,000 ($100)-.............
-----—
$3,900,200 - - - - - - - - - Pref 4% n-c, $4,000,000 ($ 1 0 0 )-----JJJ
3,399.500 July 17. 1%
DIVIDENDS.— Company paid 1% each 6 moe. on pref from July 1908
to and Inel. Jan. 1910.; July 1910 to Jan. 1912.
July '912 U>
July 1915, 2% s.-a. In July 1916, 2% . In 1917. 3 % . None since
OFFICERS.— Pres.. D. A. Belden, Haverhill: V.-P.. M . N. Buckner,
New York: Sec. and Treae.. F. J. Horne. New York.— V. 103. p. 493.
N
o v .
1919.]
E L E C T R IC
H O U G H T O N ,
H O U G H TO N
C O U N TY
C O .— T r o lle y
road.
O R G A N I Z A T I O N .— O r g a n i z e d In 1 9 0 8 a n d t o o k o v e r H o u g h t o n C o u n t y
S t r e e t R y . , w h i c h la t t e r c o m p a n y w a s i n c o r p o r a t e d In 1 8 9 9 .
D o e s a n e le c
t r i c r a i l w a y b u s i n e s s In H o u g h t o n a n d K e w e e n a w c o u n t i e s , M i c h . , c o n n e c t
in g t h e c it i e s a n d t o w n s o f H o u g h t o n . H a n c o c k , L a u r iu m , R e d J a c k e t .
L a k e L in d e n a n d H u b b e ll, a n d t h e m in in g lo c a t io n s o f Q u in c y
O s c e o la .
W o lv e r in e , A llo u e s , A h m e o k a n d M o h a w k .
F r a n c h is e s o n p u b lic s t r e e t s
e x p i r e In 1 9 2 9 , 1 9 3 0 , 1 9 3 2 , 1 9 3 3 a n d 1 9 3 3 .
L a r g e ly o n p r iv a te r ig h t o f w a y .
$ 1 0 0 ,0 0 0 c o m m o n s t o c k o w n e d b y P u b lic S e r v ic e I n v e s t m e n t O o .
F a r e s .— I n J a n . 1 9 1 9 t h e V i l l a g e C o u n c i l o f H o u g h t o n v o t e d
t h e c o . t o I n c r e a s e its fa r e s fr o m 5 t o 6 c e n t s . V . 1 0 8 , p . 4 8 0 .
t o p e r m it
STO CK A N D BON DS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 7 5 0 , 0 0 0 ( $ 1 0 0 ) ----------------------------$ 7 5 0 ,0 0 0
R esta rt.
P r e f 6 % c u m * 5 0 0 . 0 0 0 ( $ 1 0 0 ) ................
A -O
2 0 7 .2 0 0 A p r T 9 3 %
1 st c o n s o l n it r e * 1 .6 0 0 .0 0 0 f 1 9 0 8
5 g J -J
7 0 6 .5 0 0 J a n
1 'l 9 3 ?
($ 5 0 0 a n d 8 1 ,0 0 0 ) g o l d . . t f l i n t , a t O ld C o l o n y T r u s t ( ’ o . . B o s t o n , T r u s t
H ough O o St R y m k # 8 7 5 0 .1 9 0 0
5 g J -J
2 5 2 .0 0 0 J u l y 1 1920
0 0 0 ($ 1 ,0 0 0 ) a s s u m e d .c * t f / I n t . a t B o s t o n S a fe D e p . & T r . C o . , T r u s t e e .
S t o c k a n d B o n d s — P r e f . s t o c k is r e d e e m a b l e a t 1 1 0 .
$268 000 con sol
m t g e . b o n d s r e s e r v e d f o r p r i o r l i e n s ; $ 2 4 . $ 0 0 a r e In t r e a s . ; $ 4 1 7 , 0 0 0 f o r f u
t u r e a d d it io n s a t 8 0 % o f c o s t ; $ 9 7 ,0 0 0 o w n e d b y c o m p a n y ; t b e v a re s u b
j e c t t o c a ll a s a w h o le o r in p a r t a t a n y t im e f o r s in k in g f u n d a t 1 0 5 a n d in t .
S i n k i n g f u n d 1 4$ % o f o u t s t a n d i n g b o n d s . $ 9 0 , 0 0 0 h a v e b e e n c a n c e l e d .
The
H o u g h t o n C o u n t y S t r e e t R y . b o n d s c a n b e c a l l e d a s w h o l e o r In p a r t a t
1 0 5 a n d in t . a t a n y tim e .
V . 87, p . 614.
$ 4 9 8 ,0 0 0 h a v e b e e n c a n c e le d .
D i v i d e n d s .— O n p r o f . 3 % s . - a . f r o m O c t . 1 9 0 8 t o A p r . 1 9 1 9 i n c i .
On
com m on . 2 % O ct. 1909.
In 1 9 1 0 , A p r il, 2 ) 4 % a n d s a m e a m o u n t s -a
t o a n d I n c lu d in g A p r il 1 9 1 4 .
N o n e s in c e .
E A R N I N G S .— F o r 12 m o n th s e n d in g J u n e 3 0 :
Y ear—
d ross.
N e K a f t .T a x .)
In t.
S k .F d . S p e c .R * *
1 9 1 9 ........................... $ 3 0 4 , 3 7 4
$ 9 1 ,1 2 7
$ 4 8 ,9 1 7
............. ...
$ 2 4 ,3 7 0
1 9 1 8 ................— - 3 3 7 . 4 7 7
1 1 8 .1 5 0
4 9 ,6 7 9
.................
2 4 j)4 8
S u r p lu s
$17 840
4 4 !4 2 3
R O A D .— M ile s o f s in g le t r a c k e q u iv a le n t , 3 2 .1 5 ; 3 9 c a r s .
S ta n d a rd
gauge.
P o w e r s t a t io n c a p a c i t y , 1 ,0 0 0 k .w .
A ls o p u r c h a s e s p o w e r fr o m
H o u g h t o n C o u n t y E le c t r ic L ig h t C o .
O F F I C E R S .— P r e s .,
H ou gh ton , a n d F red k ,
T r e a s .. H e n r y B . S a w
S to n e A W e b s te r M g t .
H a r r y T . E d g a r , B o s t o n ; V .-P s ., F . J . B a w d e n
P , R o y c e , B o s t o n ; S e c ., A lv a h K . T o d d
B o sto n 1
y e r , B o s t o n ; M g r ., E . L . M illik e n ; G e ii. M g r s ’
A s s n ., B o s t o n .— V . 1 0 6 , p . 3 9 5 ; V . 1 0 8 . p . 4 8 0 . '
IN D IA N A P O L IS ,
TERRH
H AU TE
IN D IA N A P O L IS
&
T R A C T IO N .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In I n d i a n a o n M a r c h 2 3 1 9 0 7 a n d
a c q u ir e d b y p u r c h a s e (1 ) I n d ia n a p o lis A E a s te r n R y . ; (2 ) I n d ia n a p o lis
C o a l T r a c t io n ; (3 ) In d ia n a p o lis A W e s te r n T r a c t io n , a n d (4 ) R ic h m o n d
S tre e t & In te ru rh a n R y .
O n M a r c h 2 5 1 9 0 7 le a s e d t h e T e r r e H a u t e T r a c t i o n & L ig h t C o . f o r 999
y e a r s (s e e t e r m s u n d e r t h a t c o m p a n y b e l o w ) , a n d in A p r i l 1 9 0 7 le a s e d fo r
9 9 9 y e a r s th e In d ia n a p o lis & N o r t h w e s t e r n T r a c t io n a n d th e I n d ia n a p o lis A
M a r t in s v i lle R a p id T r a n s it (s e e t e r m s u n d e r r e s p e c t i v e c o m p a n ie s !
T h e c o m p a n y o w n s $ 1 ,0 0 0 ,0 0 0 p a r o f t h e c o m m o n s t o c k o f t h e I n d ia n a n • is S t . R y . C o . ( i n c o r p o r a t e d 1 9 1 9 ) .
O w n s a o n e - h a l f in t e r e s t in t h e
U n it e d T r a c t io n C o a l C o ., in s u r in g t h e c o m p a n y a n a d e q u a t e c o a l s u n n lv
B e e S h ir le y R e a l t y C o . o f I n d ia n a in V . 1 0 4 , p . 1 8 0 5
P P y ’
w v ° , , . n 1 'W . 1 G * 1* ■ " “ • d r ,,r 9 9 9 y e a r s t h e I n d i a n a p o l i s C r a w f o r d s v l l l e A
D a n v i l l e E l e c R y ( rcm t e r m s u n d e r l a t t e r c o m p a n y b e l o w ) .
V 94 n 1 £ « 7
F r a n c h i s e s . — I n a l e t t e r t o b a n k e r s In M a y 1 9 1 0 , P r e s i d e n t o f t h e c o m
p a n y s a i d : • T h e g r e a t m a j o r i t y o f t h e f r a n c h i s e s u n d e r w h i c h t h s e v s t e m L.
o p e r a t e d e x t e n d w e ll b e y o n d t h e li f e o f t h e s e b o n d s f i s t A r e f m t r e l
Th«
F r a n c h i s e * In t h e c i t y o f I n d i a n a p o l i s e x p i r e In 1 9 3 3 "
m t g e .L
The
O n M a y 1 1 9 1 8 p u r c h a s e d t h e s t o c k o f t h e W e s t I n d i a n a U t illt t A s r n
w h ic h o p e r a t e s lig h t in g p la n ts a t W e s t T e r r e H a u t e a n d B r a z il I n d
°
”
F r e i g h t R a t e s .— O n M a y 2 3 1 9 1 8 t h e a p p l i c a t i o n o f t h i s c o f o r 'i n c r e a s e d
fr o g ilt r a te s w a s a p p r o v e d b y th e I .- S . C . C o m m is s io n .
O n M a y 12 1919
fr e ig h t r a te s w e r e in c r e a s e d t o p r a c t ic a lly th e s a m e a s th e s te a m r o a d s
F a res.
O n S e p t, o 1918 th e c o . w a s a u th . b y th e I .-S . C . C o m m
t o in
c r e a s e f a r e s b e t w e e n p o i n t s o n it s li n e s in I n d i a n a a n d I l l i n o i s t o i b a s is o f
2 H e . p e r m ile .
I n O c t . 1 9 1 8 t h e I n d . P . S . C o m m a u t h a s t r a i g h t 5^ f a ? e
in T e r r e H a u t e . V . 1 0 7 . p . 1 6 7 0 .
O n J a n . 13 1919 th e In d
P S
C om m
a u t h . a n in c r e a s e in p a s s e n g e r f a r e s t o 2 M c e n t s p e r m i l e
O n A la v 28 1919
w a s a u t h . t o i n c r e a s e p a s s e n g e r f a r e s in I l l i n o i s t o 2 U c e n t s d o r m i l e
p h S C°6 o m m U n n r i ° . c a i m s i n m i? aSo l n I n d i ,?.n a p o l i s w a s d e n i e d b y P t h e I n d !
L
, . ^ L i 11 8 , T h e 0 P m m - d i r e c t e d t h e s e c u r i t y h o l d e r s o f
r
i8 ov o ' u “
" " '
* «
• »
C 0~
K S * 2%
K
? « W
D “ “ ,n U ™ ‘
‘S S u o s S I
P r e f e r r e d * 1 2 . 5 0 0 . 0 0 0 ( $ 1 0 0 ) _______I
....................
9 100 0 0 0
' S e e ‘ te x t
l 8 f f o l d « T o n n i mf ? $ 8 , 0 0 0 . 0 0 0 1 1 9 1 0
r a y 6 .5 0 0 .0 0 0 A p r il 1 1 9 4 5
,
^
ln ^
‘ f id e li t y T r u s t O o .. P h lla ., T r u s te e
In d ia n a p o lis A
E a stern
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S h o u ld c o m . a t a n y
t im e p a y 6 % . p r e f. w ill p a y t h e s a m e .
V . 90, p . 1555.
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a . 't h ^ e a f t e r : b o n d ,
a c q u ir e d fo r s. f. t o b e a liv e a n d In t. a d e d t o s . f. V . 9 0 . n 1491
(T h o n a v m e n t o f th e $ 1 * 6 .6 7 5 d u o F o b . 1 1 9 1 9 , w a s d e fe r r e d .
f c o t p a id to S e p t 3
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r e tir e t h e I n d . & G r e e n fie ld 1st 5 s , * 9 2 .0 0 0 h a v e b e e n c a n c e le d b y s in k , fu n d
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th a n 106 a n d In t.
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V . 1 0 4 . p . 1 8 0 1 ; V . 1 0 6 , p . 9 3 0 , 1 2 3 1 , 1 9 0 1 , 2 6 5 0 ; V . 1 0 7 , p . 1 8 2 , 1 6 7 0 ';
V . 108. p . 80. 1722. 2630.
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s a tio n e x p e n s e s .
V . 84. p
750.
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t r ic C o . a n d th e T e r r e H a u te E le c t r ic T r a c t io n C o .
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V . 84. p . 869.
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[Vol . 109.
ELECTRIC RAILWAYS
B R O A D R I P P L E T R A C T I O N .— A tr o lle y r o a d .
B o n d s .— O f r e m a i n i n g f i r s t m t g e . b o n d s , $ 1 , 0 0 0 , 0 0 0 a r e f o r e x t e n s i o n s
« n d $ 5 0 0 ,0 0 0 t o b e Issu e d o n ly u n d e r c e r t a in c o n d it io n s .
S u b j. t o c a ll m
O R G A N I Z A T I O N .— O r g a n iz e d a s s u c c e s s o r to th e In d ia n a p o lis & B r o a d
a w h o l e b u t n o t In p a r t a t 1 0 2 1 4 a n d i n t . o n a n y I n t . d a y .
S in k in g fu n d o f
R ip p le T r a n s it C o . , * o ld a t fo r e c lo s u r e J u ly
1899.
T h e I n d ia n a p o lis
3 0 .0 0 0
p o r a n n u m o n I n i t i a l $ 1 , 0 0 0 , 0 0 0 b o n d s o u t c o m m e n c e d M a r c h 1 1 8 1 3 S t r e e t R y . o w n s a b o u t 7 5 % o f s t o c k , b u t o r g a n i z a t i o n Is s e p a r a t e .
R oad
W h e n a d d ' l b o n d s a r e i s s u e d f u n d s h a l l b e i n c r e a s e d b y s u c h a m o u n t a s w il l
is j o i n t l y o p e r a t e d b y t h e U n i o n T r a c t i o n C o . o f I n d i a n a a n d t h e I n d i a n a p
r e t i r e 2 -3 o f s u c h a d d 'I b o n d s I s s u e d .
$ 7 8 ,0 0 0 h e ld a li v e In s in k in g fu n d
o lis S tr e e t R a ilw a y .
S ep tem b er 1 1919.
STO C K A N D B O N D S—
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M aturity,
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E A R N I N G S .— P o r c a l e n d a r y e a r s :
M t g $ 4 0 0 , 0 0 0 * ( $ 1 , 0 0 0 ) c * n t f . / 1 8 9 9 ................5 f c J - J
4 0 0 .0 0 0 J u ly 1 1 9 3 3
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G r o s s . N e t a f t .T a x .O t h .I n c . D e d u c . S i n k .F d .
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N o s . f. a n d b u n d s c a n n o t
1 9 1 7 . .......................... 2 5 9 , 9 3 2
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R O A D .— O p e r a te s 4 4 .8 7 m ile s o f r o a d b e tw e e n I n d ia n a p o lis a n d G r a w U n i o n T r . C o . o f I n d . ) g u a r a n t e e s p . A I. o f h a l f ($ 2 0 0 .0 0 0 1 o f t h e b o n d s .
fo r d s v llle .
S ta n d a rd g a u g e .
7 0 a n d 8 5 -lb . T r a ils .
A n e x te n s io n fr o m
ROAD.— 7)4 miles of track from Indianapolis to Broad Ripple Park.
C r a w fo r d s v llle to w e s te rn b o u n d a r y o f I n d ia n a e a s t o f O lt y o f D a n v ille ,
O F F I C E R S .— P r e s ., R o b e r t I T o d d ; S e c . A T r e a s ., J o s . A . M c G o w a n .
l u d . . Is p r o p o s e d .
— V . 6 9 . p . 1 8 0 ; V . 7 3 . p . 1 3 7 , 18 3 ; V . 7 8 . p . 1 1 6 7 .
O F F I C E R S . — P r e s ., J o h n J . A p p e l ; V . - P . . R o b e r t I . T o d d ; S e c . A T r e a s ..
■Jos. A . M c G o w a n ; G e n . M g r . . R o b t . I . T o d d .
V . 94, p . 1449. 1565, 1695.
INDIANAPOLIS & CINCINNATI TRACTION CO.
IN D IA N A P O L IS S T R E E T R A I L W A Y C O .—
T h e T e r r e H a u te I n d ia n a p o lis A E a s te r n T r a c t io n G o . o w n s th e $ 1 ,0 0 0 ,■000 c o m . s t o c k .
O R G A N I Z A T I O N .— I n c o r p . in I n d ia n a o n J u n e 3 0 1 9 1 9 .
I s c o n s o lid a
t i o n o f t h e o ld I n d i a n a p o l is S t r e e t R y . C o . a n d t h e I n d i a n a p o l is T r a c t i o n &
T e r m in a l C o .
(F o r s e p a r a te h is t o r y o f e a c h o f th e s e c o s . u p t o tim e o f
c o n s o l i d a t i o n s e e t h e " E l e c t r i c R a i l w a y S u p p l e m e n t ” o f M a r c h 2 9 1 9 1 9 .)
T h e c o n s o lid a t io n w a s e f f e c t e d a s p e r p la n In V . 1 0 8 , p . 2 3 2 9 s u b je c t t o
c o n d it io n s s t ip u la t e d b y t h e I n d . P . S . C o m m , a s o u t lin e d in V . 1 0 9 ,
p . 172.
O n A u g . 2 9 1 9 1 9 t h e F e d e r a l C o u r t a p p r o v e d t h is c o n s o lid a t io n
a n d d is m is s e d t h e s u it b r o u g h t b y c e r t a in m in o r i t y s t o c k h o ld e r s a g a in s t
sam e.
V . 109, p . 982.
. . . .
In t e r u r b a n r a ilw a y s e n te r th e c i t y u n d e r a g r e e m e n ts b y w h ic h t h e y p a y
3 c e n t s p e r p a s s e n g e r f o r a ll p a s s e n g e r s c a r r ie d in t h e c i t y li m it s a n d a n
a d d i t io n a l 1 c e n t f o r t h o s e u s in g t h e t e r m in a l s t a t io n .
V . 81. p. 264.
G u a r a n t e e s th e ($ 4 0 0 ,0 0 0 ) b o n d s o f B r o a d R i p p l e T r a c t i o n C o . , a n d o w n s
7 5 % o f it s s t o c k .
I n t e r e s t P a y m e n ts .— I n t . a m o u n t i n g t o $ 1 2 5 ,0 0 0 d u e A p r i l 1 1 9 1 9 o n t h e
I n d . T r a c . & T e r m . 1 st 5 s w a s p a id S e p t . 2 2 1 9 1 9 .
T h e $ 1 2 0 ,0 0 0 In t.
d u e J a n . 1 1 9 1 9 o n th e I n d . S tr e e t R y . g e n . m t g e . 4 s w a s p a id J u ly 1 1 9 1 9 .
T h e in t . o n t h is is s u e d u e J u ly 1 1 9 1 9 , h o w o v e r , h a d n o t b e e n p a id t o
S e p t. 18 1919.
V . 109, p . 676.
F a r e s — D e c i s i o n .— O n N o r . 1 5 1 9 1 7 t h e I n d . T r . & T e r m . C o
a p p lie d
t o th e P . S . C o m m , fo r a u t h . t o e s ta b lis h a u n ifo r m 5 -c e n t fa r e b y a b o lis h in g
t h e r a te o f 2 5 tic k e ts fo r $1 o r 6 fo r 2 5 c e n t s .
O n D o c . 13 1 9 1 7 t h e C o m m ,
h a n d e d d o w n th e d o c is io n t h a t it h a d n o ju r is d ic t io n in t h e m a t t e r .
On
J a n . 2 191 8 th e M a r io n C o u n t y C ir c u it C o u r t s u sta in e d th e d e m u r r e r o f
th e C o m m .
O n J u ly 3 0 1 9 1 8 th e S ta te S u p r e m e C o u r t r e v e r s e d th e d e c is io n
o f th e C ir c u it C o u r t , r u lin g t h a t t h e P . S . C o m m , h a d p o w e r t o a c t , a n d
d ir e c t e d t h e C o m m is s io n t o t a k e u p th e c o . ’s p e t it io n .
V . 107, p . 696.
C om p a re V . 106, p . 189, 2649.
O n D e c . 2 8 1918 th e In d . P . S. C o m m ,
a u t h . t h e c o . t o c h a r g e a s t r a i g h t 5 - c o n t f a r e u n t i l 1 0 0 d a y s a f t e r p e a c e is
s ig n e d .
S u it w a s b r o u g h t a g a in s t t h e I n d . T r . & T e r m . C o ., t h e I n d ia n
a p o lis S tr e e t R y . a n d th e I n d . P . S . C o m m , to e n jo in th e c o . s fr o m c o lle c t
in g th e s tr a ig h t 5 -c o n t fa r e b e c a u s e o f th e fr a n c h is e a g r e e m e n t p r o v id in g
fo r tic k e ts a t 6 fo r 2 5 c e n ts .
V . 108, p . 973.
In A u g . 1 9 1 9 th e c o . a p p lie d
t o th o P . S . C o m m , fo r a u t h . t o c h a r g e 1 c e n t f o r tr a n s fe r s .
V . 109, p . 676.
STO C K A N D BO N D S—
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I n ter es t.
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1 1933
m o r t g a g e $ 6 ,0 0 0 ,0 0 0 g o l d ] I n t e r e s t a t G u a r . T r u s t & S a fo D o p o s i t C o .,
P h ila d e lp h ia , T r u s t e e .
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$ 1 2 5 , 0 0 0 ( $ 1 . 0 0 0 ) ..................... / P a . C o . f o r I n s . o n L . & G . A n n . , P h i l . . t r u s t .
I n t e r e s t o n C it iz e n s ’ c o n s o ls a t F o u r t h S tr e e t N a t . B a n k , P h ila d e lp h ia .
S t o c k .— P r e f e r r e d s t o c k i s p r o f , a s t o a s s e t s a n d d i v s .
I t is s t a t e d t h a t
t h e c o m m o n s t o c k w ill b e a ll o w e d n o v o t i n g p o w e r u n le s s t h e p r e f . d iv s .
a r e p a id in f u ll .
B o n d s .— T h e c o n s . m t g e . b o n d s a r e l i m i t e d t o a n a u t h . i s s u e o f $ 1 5 , 0 0 0 ,
0 0 0 u p t o A p r il 7 1 9 3 3 , a f t e r w h ic h , t h e a u t h . a m o u n t m a y b e in c r e a s e d t o
$ 2 5 ,0 0 0 ,0 0 0 , in c l. t h e d iv is io n a l b o n d s , i f a n y , t h e n o u t s t a n d in g , a n d
s u c h e x c e s s o f $ 1 0 ,0 0 0 ,0 0 0 b o n d s m a y b e a r s u c h r a t e o f in t e r e s t , n o t e x
c e e d in g 6 % p . a ., a n d b e u s e d fo r a n y p r o p e r c o r p o r a t e o b je c t s a n d p u r
p o s e s o f th e c o n s o lid a te d c o .
T h e $ 1 5 ,0 0 0 ,0 0 0 n o w a u t h o r iz e d w ill b e a r
i n t . a t n o t e x c e e d in g " 6 % a n d s h a ll b e is s u e d o n l y f o r a d d n s . a n d b e t t e r
m e n t s t o a n d e x t s ., a c q u is it i o n s a n d r e p la c e m e n t s o f lin e s o f s t r e e t r a il r o a d
w h ic h b e c o m e a p a r t o f th e s tr e e t r a ilr o a d s y s t e m o f th e c o n s o lid a t e d c o m
p a n y in I n d ia n a p o lis a n d it s v i c in it y .
B o n d s s h a ll o n l y b o is s u e d t o t h e
a m o u n t o f p a r v a lu e o f b o n d s o f t h e t h r e e d iv is io n a l is s u e s w h ic h h a v e b e e n
o r s h a ll b e t a k e n u p a n d c a n c e le d b y s in k in g fu n d p a y m e n t s , s o t h a t a t n o
t im e w h ile a n y o f d iv is io n a l b o n d s a r e o u t s t a n d in g (u n le s s t h e ir p r e s e n t
d a t e s o f m a t u r it y s h a ll b e e x t e n d e d ) , s h a ll t h e a g g r e g a t e a m o u n t o f [n e w
a n d o ld ] b o n d s s e c u r e d b y m o r t g a g e s o n t h e p r o p e r t y e x c e e d $ 1 5 ,0 0 0 ,0 0 0 .
B u t n o t w i t h s t a n d i n g t h e f o r e g o i n g , p r o v i s i o n m a y b e m a d e in t h o m o r t g a g e
f o r t h e is s u a n c e o f b o n d s t o r e fu n d t h e e x is t in g m o r t g a g o in d e b t e d n e s s , o r
a n y p a r t t h e r e o f [a t m a t u r it y ].
A ll b o n d s is s u e d f o r r e f u n d in g s h a ll b e
s u b je c t t o b e ta k e n u p a n d c a n c e le d b y t h e s in k in g fu n d p r o v is io n s w h ic h
w e r e a p p l i c a b l e t o t h e r e f u n d e d b o n d s in t h e i r o r i g i n a l f o r m , a n d w h e n s o
t a k e n u p a n d c a n c e le d , o r ig in a l b o n d s m a y b e is s u e d in s u b s t i t u t io n t h e r e
f o r , w h ic h , o r t h e p r o c e e d s t h e r e o f, s h a ll b e u s e d o n l y f o r p e r m a n e n t im p t s a n d b e tterm en ts.
P r o v is io n m a y b e m a d e in s a id m o r t g a g e t h a t t h e m a
t u r it y o f a n y o u t s t a n d in g b o n d s w h ic h b e c o m e d u e o n o r b e fo r e A p r il 7
1 9 3 3 m a y b e e x te n d e d t o s u c h d a t e a s m a y b e d e t e r m in e d b y th e B o a r d a t
n o t e x c e e d in g 6 % in te r e s t i f p e r m it t e d b y la w .
T h o l i e n o f t h e s e v e r a l u n d e r l y i n g m o r t g a g e s is c o n f i n e d t o t h o p r o p e r t y
a n d in te r e s ts u p o n w h ic h e a c h w a s a lie n p r io r t o c o n s o lid a t io n a n d d o e s
n o t e x te n d t o a n y o t h e r p r o p e r t y o f th e c o n s o lid a t e d c o m p a n y , e x c e p t as
" g e n e r a l d e b t s ,” w it h o u t p r io r it y , a ft e r s a tis fy in g o f th e m o r t g a g o h e n s
th e re o n .
,
, , ,
,.
,
T h e I n d . T r a c . A T e r m , b o n d s h a v o a s in k in g fu n d w h ic h p r o v id e s fo r
t h e p a y m e n t a n n u a lly o f 1 1 -5 % o f b o n d s o u t s t a n d in g .
See V . 76, p . 1085.
B o n d s m a y b e d r a w n fo r s in k in g fu n d a t 1 0 2 )4 a n d in t . a n d a r e s u b j. t o
c a ll a t t h a t p r ic e .
See V . 8 1 . p . 2 6 4 .
T h e In d . S t. R y . b o n d s h a v e a
s in k in g f u n d s u ffic ie n t t o r e d e e m a t m a t u r it y t h e g r e a t e r p a r t o f t h e e n tir e
is s u e .
T h o d iv is io n a l b o n d s in t h o s in k in g fu n d s a t t h o t im e o f c o n s o lid a
t io n w e re c a n c e le d s o t h a t t h e y c o u ld n o lo n g e r d r a w in te r e s t a n d p a y m o n t s
t o t h e s in k in g fu n d s s u s p e n d e d u n til 1 9 2 3 .
A ll f u t u r e s in k in g f u n d p a y
m e n ts a r e t o b o a p p lie d t o th o c a n c e lla t io n o f b o n d s .
E q u ip m e n t c e r t ifi
c a t e s S e r ie s " B ” m a t u r e $ 5 ,0 0 0 o n J a n . 1 a n d J u ly 1 in e a c h y e a r u n t il
p a i d in f u l l .
$ 8 5 ,0 0 0 h a v e b e e n r e t ir e d .
T h e y co v e r p u rch ase o f 25 new
cars.
S e r ie s " C ” m a t u r e $ 5 ,0 0 0 o n M a r c h 1 a n d S e p t . 1 e a c h y e a r u n t il
p a i d in f u l l .
T h e y co v e r 25 n ew cars.
$ 6 0 ,0 0 0 h a v e b e e n r e t ir e d .
S e r ie s
’ D ” m a t u r e $ 5 ,0 0 0 o n J u n e 1 a n d D e c . 1 e a c h y e a r u n t il p a id .
C overs
25 n ew cars.
$ 5 5 ,0 0 0 h a v e b e e n r e t ir e d .
S e r ie s " E " m a t u r e $ 6 ,0 0 0 o r
$ 7 ,0 0 0 o n J u n e 1 a n d D e c . 1 e a c h y e a r .
T h e y co v e r 25 cars.
$ 3 1 ,0 0 0 h a v e
b o e n r e tir e d .
B o n d s a r e lis t e d o n P h ila . S t o c k E x c h a n g e .
V . 6 9 ,p .8 5 1 .
E A R N I N G S . — O f I n d . T r a c . & T e r m . C o . a n d I n d . S t . R y . C o . w ill b e
f o u n d in " E l e c t r i c R y . S u p p ." o f M a r c h 2 9 1 9 1 9 .
R O A D . — O p e r a t e s 1 4 1 .6 4 m ile s o f t r a c k a n d o w n s 9 - s t o r y o f f i c e a n d
t e r m i n a l b u i l d i n g , t r a i n - s h e d s a n d 3 f r e i g h t d e p o t s c e n t r a l l y l o c a t e d In
I n d ia n a p o lis : a ls o r e a l e s t a t e o n w h ic h s a m e a r e c o n s t r u c t e d .
T h is te r
m i n a l is u s e d b y a l l i n t e r u r b a n r o a d s ( 1 3 i n n u m b e r ) e n t e r i n g I n d i a n a p o l i s .
A n e w f r e i g h t t e r m in a l is t o b e e r e c t e d .
O w n s e le c tr ic a l a n d s t e a m e q u ip
m e n t o f 7 ,0 0 0 k .w . c a p a c it y .
O w n s 5 4 2 d o u b le t r u c k s , 1 8 2 s in g le t r u c k
p a s s e n g e r a n d 1 2 0 s e r v ic e c a r s .
O F F I C E R S .— C h a ir m a n o f t h e B o a r d , H e n r y J a m e s o n ; P r o s . & G e n .
M g r ., R o b t . I . T o d d ; V .- P ., H e n r y O . T h o m s o n : S e c. & T r e a s ., J o s e p h A .
M c G o w a n : A s s t . S e c . & T r e a s ., W m . F . M llh o lla n d .— V . 1 0 8 ,
p . 2241,
:2 3 2 9 , 2 6 2 9 ; V . 1 0 9 , p . 1 7 2 , 6 7 6 , 9 8 2 .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in I n d i a n a o n N o v . 1 7 1 9 1 0 a s s u c
c e s s o r t o t h e old I n d i a n a p o l i s A C i n c i n n a t i T r a c . C o . , s o l d a t f o r e c l o s u r e
N o v . 10 1 9 1 0 .
V . 91. p . 1385. 1025.
„
.
w
I n 1 9 1 1 a c q u ir e d t h e I n d ia n a p o lis A S o u t h e a s t e r n T r a c . C o . (a ll o f w h o s e
o o m . a n d $ 3 0 , 0 0 0 1 s t M . b o n d s t h e old I n d i a n a p o l i s A C i n c i n n a t i T r a c . C o .
h a d o w n e d a n d t o w h ic h c o m p a n y t h e I n d . A S o u t h e a s t e r n w a s le a s e d ) a n d
c a n c e le d Its o o m . s t o c k .
V. 92. p. 881. 950.
P r i v a t e r i g h t o f w a y e x c e p t In
c it ie s a n d t o w n s .
C o u n t y franchises p e r p e t u a l .
Franchises In c i t i e s a n d
t o w n s a r e f o r 5 0 y e a r s ( t h e o l d e s t b e i n g d a t e d 1 9 0 4 ) , e x c e p t In I n d i a n a p o l i s ,
w h i c h is f o r 3 4 y e a r s f r o m 1 9 0 0 .
H a s c o n t r a c t w ith I n d ia n a p o lis T r a c t io n
A T e r m in a l C o . fo r 31 y e a r s a llo w in g its c a r s t o e n te r I n d ia n a p o lis .
I n N o v . 1 9 1 2 t h e I . A O . L ig h t A P o w e r C o . w a s i n c o r p o r a t e d w ith
n o m i n a l ( $ 9 0 0 ) c a p i t a l s t o c k in t h e I n t e r e s t o f t h e T r a c t i o n C o . t o f u r n i s h
lig h t a n d p o w e r t o t h e c o m m u n it i e s a lo a g t h e c o m p a n y 's r o u t e .
In F e b . 1 9 1 3 th e l . A O . E le c t r ic R R . w a s I n c o r p . w ith $ 1 0 ,0 0 0 c a p it a l
s t o c k . t o e x t e n d t h e T r a c t io n C o . ’ s lin e s f r o m R u s h v ille t o C in c i n n a t i b y w a y
o f B r o o k v t lle . I n d ., a n d H a r r is o n . O .
It m a y la t e r b e m e r g e d w ith th e
O la c iu n a t l H a r r is o n A I n d ia n a p o lis T r a c t io n C o .
I n A p r il 1 9 1 3 a c q u ir e d c o n t r o l o f th e C in c i n n a t i A W e s t w o o d R R . . a
n a r r o w -g a u g e r o a d e x te n d in g fr o m
W e s t w o o d , o n t h e b o u n d a r y lin e o f
C in c i n n a t i, t o B r ig h t o n , w ith in t h e c i t y
5 1 -3 m il e s
V
96. p. 1297.
O n J a n . 19 1918 w as a u th . b y th o In d ia n a P
U . C o m m , to In crease
p a s s e n g e r fa r e s fr o m 2 t o 2 )4 c e n ts p e r m ile , a n d , e ffe c t iv e J a n . 10 1 9 1 9 ,
t o I n c r e a s e r a t e s t o 2 54 c e n t s p e r m i l e .
P a y m e n ts in S c r i p .— O n O c t . 1 1 9 1 8 $ 1 5 ,0 0 0 o f d iv s . o n I n d . A S o u t h e a s t
e r n p r e f . s t o c k b e i n g u n p a i d , t h e c o . I s s u e d In lie u t h e r e o f a li k e a m o u n t
6 % c t fs . o f in d e b t e d n e s s , d u e t w o y e a r s a ft e r th e c lo s e o f th o w a r .
On
J a n . 1 1 9 1 9 $ 6 0 , 0 0 0 a d d i t i o n a l 6 % c t f s '. o f i n d e b t e d n e s s w e r e i s s u e d t o p a y
t h e $ 6 0 ,0 0 0 o f b o n d in t e r e s t d u e o n t h a t d a t e .
T h e s e c t f s . m a t u r e ..o n
Jan. 1 1921.
V . 108. p . 784.
O u tsta n d in g .
M a tu rity .
STO C K A N D B O N D S—
D a te.
In ter es t.
...........................
$ 2 ,0 0 0 ,0 0 0
C o m m o n $ 2 . 0 0 0 . 0 0 0 _____________ ________
___________
1 .0 0 0 .0 0 0 In 1 9 1 2 . 1 %
P r e f $ 1 , 0 0 0 , 0 0 0 ( s e e t e x t ) .........................
J -J
1 .4 0 0 .0 0 0 J u ly
1 1 9 4__
0
F ir s t m t g e $ 4 ,8 5 0 ,0 0 0 ( $ l . - \ 1 9 1 0
* J -J
.
0 0 0 ) g o l d ( s e e t e x t ) _______ c * | I n t e r e s t a t C e n t r a l T r u s t C o . . N
Y . T ru s.
I A S E p f s t k $ 6 0 0 , 0 0 0 ( $ 1 0 0 ) _____
A -O
6 0 0 .0 0 0 In 1 9 1 7 5 %
I n d A S E 1st M $ 1 ,0 0 0 .0 0 0 1
1905
5 * J -J
6 8 6 .0 0 0 J u ly I 1 9 3 5
o l d ( $ 1 . 0 0 0 ) __________________ ) l n t . a t F a r m e r s ' L o a n A T r O o . , N Y . T r u s .
S h e lb y v A S o u th e a s t l s t f 190 2
5 g J -J
114 0 0 0 Isn
1 1932
M $ 5 0 0 ,0 0 0 g ($ 1 .0 0 0 ) s f - . / I n t . a t O . A O . T r . A S a v . B k . , C h i c a g o , t r u s .
C e r tific a te s o f in d e b t e d n e s s .. . . . .
6%
7 5 ,0 0 0
S ee tex t
Stock.— I n d . A C l u . T r a c . p r e f . is e n t i t l e d t o n o n - c u m d i v s o f 2 % u n t i l
J u ly 1 1 9 1 1 . t h e n I n c r e a s in g 1 % y e a r ly t o J u ly l 1 9 1 3 . t h e r e a f t e r 5 % p e r
aanum .
I n d . A S . E . p r e f . Is r e d e e m a b l e a t i 0 5 a n d a c c r u e d d i v . o n a n y
1 9d3 i3v i d e n d d a t e .
See V . 81. p . 1375.
Bonds.— I n d . A O I n . T r a c . 1 s t M is d i v i d e d I n t o t h r e e c l a s s e s . A . B a n d O .
C l a s s A . $ 1 , 3 0 0 , 0 0 0 , a ll o u t : C l a s s B , $ 2 0 0 , 0 0 0 . n o n e I s s u e d ; a n d C l a s s O ,
$ 3 , 3 5 0 , 0 0 0 ( o f w h i c h $ 1 0 0 , 0 0 0 o u t s t ’ g ) , r e s e r v e d f o r e x t e u s . , I m p r o v e m 't s ,
A c.
E n t i r e s e r i e s o f b o n d s o f e a c h c l a s s is s u b j e c t t o c a l l o n o r a f t e r J u l y 1
191 3 a t 105 a n d in t.
A s t o p r io r it y o f d iffe r e n t s e r ie s , s e e V
92. p 956.
O f t h e $ 1 , 0 0 0 , 0 0 0 I n d . A S . E . b o n d s , $ 4 1 4 , 0 0 0 Is r e s e r v e d f o r p r i o r l i e n s
T h e y a r e s u b je c t t o c a ll o n a n y in t . d a t e a t 1 0 5 a n d in t .
O f th e In d S h e lb y .
A S . E . b o n d s , t h e e n t ir e Issu e m a y b e c a lle d o n a n y In t d a t e a t 1 10.
A
sinking fund o n t h e s e b o n d * o f $ 1 0 , 0 0 0 p e r a n n u m b e g a n J a n . 1 1 9 0 8 . f o r
w h ic h b o n d * c a n b e c a lle d a t 1 0 5 . b e g in n in g w it h lo w e s t n u m b e r .
$ 8 6 ,0 0 0
S
h * D I i J d r n d i r ^ O 1i
p r e f.
p a id
In
1911.
1 H % ;
In
1912.
1% .
E A R N I N G S — F o r fis c a l y e a r e n d in g D e c . 3 1 1 9 1 8 ,
g r o s s , $ 5 3 2 ,1 1 3 ;
n e t , $ 1 4 2 ,6 2 6 : o t h e r I n c o m e . $ 3 ,7 3 0 ; in t e r e s t , t a x e s a n d d iv i d e n d s o n
I.
A S . E . p r e f . , $ 1 6 0 , 3 9 7 ( $ 7 5 , 0 0 0 o f t h i s a m o u n t w a s p a i d in s c r i p — ( s e e
a b o v e u n d e r " P a y m e n t s in s c r i p " ) ; d e f i c i t f o r y e a r , $ 3 6 ,7 6 4 .
R O A D . — O p e r a t e s 5 8 m ile s o f t r a c k f r o m I n d i a n a p o l is v ia R u s h v ll le t o
C o n n e r s v ille a n d 4 9 m ile s o f t r a c k f r o m I n d i a n a p o l is v ia S h e lb v v ill e t o
G reen sh u rg .
T o t a l , 1 05 m ile s o f t r a c k .
A n e x te n s io n fr o m
R u s h v llle
v i a H a r r i s o n . O . , t o C i n c i n n a t i is p r o p o s e d .
6 0 a n d 7 0 - lb . T r a ils .
20 p a s
sen ger ca rs a n d 4 exp ress ca rs.
O F F I C E R S . — P r e s ., C h a s . L . H e n r y , I n d i a n a p o l is ; V . - P , T . F . R o s e .
M u n c le ; S e c ., J o h n J A o p e l, I n d ia n a p o lis : T r e a s . J o h n F W ild
I n d ia n
a p o lis .
O ffic e , I n d ia n a p o lis .— V . 1 0 6 . p . 3 9 5 ; V . 1 0 8 , p . 1 7 1 , 7 8 4 .
IRONWOOD, MICH.
IRONWOOD & BESSEHER RAILW AY & LIGHT CO.
I n J a n . 1 9 1 7 t h e L . E . M y e r s C o . o f C h i c a g o . I I I ., p u r c h a s e d c o n t r o l .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in W i s c o n s in in 1 9 1 0 a s t h e G o g e b i c
A I r o n C o u n t i e s R y . A L i g h t C o . , t h e p r e s e n t n a m e b e i n g a s s u m e d in F o b .
1911.
O w n s 6 0 % o f s t o c k o f A s h la n d L t ., P o w . A S t . R y . C o .
C o n t r o ls
e le c , li g h t , p o w e r A s t r e e t r a il w a y b u s in e s s in A s h la n d , I r o n w o o d , B e s s e m e r ,
W a k e f ie ld , H u r le y a n d G li e ; t h o g a s b u s in e s s in A s h la n d , a n d t h o w a t e r
s u p p l y In I r o n w o o d . I l u r l e v a n d G i l e .
A ls o o w n s s o m e o f th e m o s t v a lu a b le
n a t u r a l w a t e r p o w e r s In w l a c o n s l n .
Franchises In I r o n w o o d a n d B e s s e m e r
e x p i r e In 1 9 1 1 .
In W la c o n s ln o p e r a t e * u n d e r I n d e te r m in a te fr a n c h is e .
I n J a n . 1 9 1 3 I n c r e a s e d R * a u t h p r e f s t o c k f r o m 4 2 0 0 . 0 0 0 t o $ 4 0 0 . OOO
In D e c . 1 9 1 8 t h e c o . b r o u g h t o u t $ 2 1 7 ,0 0 0 1 s t m t g o . 5 s , p r o c e e d s to b e
u s e d t o r e i m b u r s e t h e c o f o r • x p n n d l t u r c s m u d ' In t h e c o n s t r u c t i o n o f t h e
S u p e r io r F a lls w a t e r p o w e r p la n t . V . 1 0 7 , p . 2 4 7 6 .
I n M a y 1 9 1 9 is s u e d
$ 2 9 1 ,0 0 0 3 - y e a r 7 % n o t e s , p r o c e e d s b e in g u s e d t o r e im b u r s e t h o c o . fo r
e x p e n d it u r e s m a d e in t h e c o n s t r u c t i o n o f t h e S u p e r i o r F a lls w a t e r p o w e r
p la n t. V . 108, p . 2 1 2 2 .
In S e p t. 1919 th e A s h . L t ., P . A S t. R y . p u t o u t
a n is s u e o f $ 9 8 ,7 0 0 3 - y e a r 7 % c o l l , n o t e s S e r . " A , " p r o c e e d s b e i n g u s e d t o
r e im b u r s e t h e c o . f o r e x p e n d it u r e s m a d e f o r a d d ’ n s a n d b e t t e r m e n t s .
V . 109. p . 1079.
M a tu rity
D a te .
I n ter es t.
O u tsta n d in g
STO CK AN D BON DS—
$ 5 0 9 ,0 0 0
C o m m o n $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) ____
See te x t
Q -M
397 000
S ee te x t
P r e f $ 4 0 0 ,0 0 0 ($ 1 0 0 ) 7 % c u m
5 F -4
1 .5 7 3 .0 9 0
F o b 1 1 9 .3 6
F lr a t m t g e $ 2 ,5 0 0 ,0 0 0 g o l d ) 1 9 1 1
• in k f u n d ' t i 0 9 9 ' . . c « t f ' T n f a t A m e r i c a n T r u s t (
B m nn T ru st*".
C o l l1a9t 1e 9r a l n7 o gt e A
s -O
( s e e t e x t2 9 4g . 0 0 0 A p r i l 1 1 9 2 2
($ 1 0 0 . $ 5 0 0 A $ l,0 0 0 ) c * t fj
A s ti L.t 1’ A. S t R y l a i m t g o l 1 9 0 9
5 g J -J
720 000
Jan 1 1939
$ 1 ,0 0 0 ,0 0 0
g o ld
($ 1 .0 0 0 ) { I n t a t C h ic a g o S a v . B k
v Tr C o
T ru stee
P on n ta x re fu n d . " A r t f l
'T . e v e r e t f T h o m o e o n o f f , b i c
C o T ru stee.
A s h L t . P A S t R y c o ll n o te s ] 1 9 1 9
7 g F -A 1
9 6 ,7 0 0 A u g 1 1 9 2 2
S e r ie s “ A " ($ 1 0 0 , $ 5 0 0 a n d V C o n t. A C o m m . T r u s t A S a v in g s B a n k ,
$ 1 , 0 0 0 ) _______________ c * A r * t f J
C h ic a g o , T r u s te e .
H oads — R e m a in in g I r o n w o o d A B e s se m e r l* t M
b o n d s m s v b e Issu ed
fo r 7 5 % o f c o s t o f n e w p r o p e r t y u n d e r c e r t a in r e s t r ic t io n s .
R e d . a l l o r In
p a r t o n a n y In t. d a t o a t 101 a n d in t. fo r s in k in g fu n d .
S in k in g fu n d p r o
v id in g fo r r e tir e m e n t o f 1 % o f o u t s t a n d in g b o n d s a t n o t o r e v s im g 101 a n d
in t . b e g a n w ith y e a r e n d in g F e b . 1 1 9 1 6 .
$ 3 9 2 ,0 0 0 a r e p le d g o d a s s o c u r lt y
f o r t h e $ 2 9 1 ,0 0 0 7 % n o t e s .
A s h la n d L t ., P o w e r A S t r e e t R y . b o n d s a r e
s u b je c t t o c a ll o n a n y in t . d a t e a t 1 0 4 .
S in k in g fu n d o f 1 % o f b o n d s o u t
b e g a n in 1 9 1 2 .
See V . 101. p . 450.
$ 1 2 9 ,0 0 0 a r e p le d g e d u n d e r t h o c o . s
3 -y e a r c o ll, n o te s S er. A .
. . .
. . . .
, ..
.
. .
.
N o t e s .— A u t h o r i z e d I s s u e Is l i m i t e d b y t h e r e s t r i c t i o n s o f t h e t r u s t d e e d .
A r e s e c u r e d b y p le d g e o f 1 s t M . 5 s in t h e r a t io o f 1 3 3 1 - 3 % ($ 3 9 2 ,0 0 0 ).
R e d ., a ll o r in p a r t , o n a n y in t . d a t o a t 1 0 0 a n d in t . o n 3 0 d a y s n o t ic e .
V . 108. p . 2122.
T h e A s h . L t . , P . A S t . R y . c o l l , n o t o s S e r ie s " A .
are
s e c u r e d b y $ 1 2 9 ,0 0 0 1 s t M . 5 s o f t h a t c o . . b e in g in t h e r a t io o f 1 3 3 1 -3 $
o f b o n d s fo r e a ch $ 1 0 0 o f n o te s o u ts ta n d in g .
A d d it io n a l n o te s m a y b a
is s u e d f r o m t im e t o t im e p r o v id in g s a p a e a r e s e c u r o d b y 1 s t M . 5 s in t n e
s a m e r a tio .
R e d . , a l l o r i n p a r t , a t 1 0 0 a n d i n t . o n a n y i n t . d a t o u p o n JO
d a y s ’ n o tic e .
V . 1 0 9 , p . 1 0 /9 .
ELECTRIC RAILWAYS
Nov., 59 9j
57
STO C K A N D BON DS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ................................................
$ 1 ,0 0 0 ,0 0 0
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F ir s t m t g e $ 2 ,5 0 0 ,0 0 0 g o l d ) 1 9 1 2
5 A -O
1 ,0 5 5 .0 0 0 A p r il 1 1 9 2 2
year—
A
($ 1 0 0 , $ 5 0 0 , $ 1 .0 0 0 ) s f .c * t f [ C h i c a g o S a v in g s B a n k & T r u s t C o . , T r u s t e e .
1916.................$290,197
$128,900
$261,297
$75,610
$85,687
B o n d s .— R e m a i n i n g b o n d s a r e t o r I m D t s . . a d d ' n s a n d e x t e n s . u n d e r c e r
1915................. 268.362
111.387
156.975
67.584
89.391
ta in r e s t r ic t io n s .
S u b j e c t t o c a l l a s a w h o l e ( o r In p a r t f o r s i n k i n g f u n d ) o n
L a te s t E a r n in g s .— F o r y e a r e n d in g M a r . 31 1 9 1 9 , g r o s s , 5 1 9 3 ,8 8 8 : n e t ,
a n y In te re st d a te a t 105 a n d In t.
S in k in g fu n d o r 2 % o f b o n d s o u t b e g a n
a ft o r t a x e s a n d r e n t a l, $ 2 2 0 ,4 7 1 .
I n 1 9 1 8 , g r o s s , $ 4 0 6 ,2 2 1 ; n e t , a ft e r
F eb. 1 1914.
I n t e r e s t In C h i c a g o a n d a t N e w Y o r k o f f i c e o f P . W . B r o o k s
t a x e s a n d r e n t a l, $ 1 3 4 ,2 9 8 .
St C o . . I n c .
See V . 94 , p . 1566.
E A R N I N G S .— F o r 12 m o n th s e n d in g D e c . 3 1 :
R O A D .— O w n s 15 m ile s o f s t r e e t r a ilw a y s e r v in g B e s s e m e r , I r o n w o o d
Y ear—
G ross.
E xn . A T axes.
N e t.
In ter es t.
S u r p lu s .
H u r le y a n d G ile : w a t e r -p o w e r s ite s c a p a b le o f 5 ,0 0 0 h .p . d e v e lo p m e n t , l o
1 9 1 7 ...........................$ 3 2 5 , 4 9 2
$ 2 0 8 ,6 3 8
$ 1 1 6 ,8 5 4
$ 4 4 ,4 9 0
$ 7 2 ,3 6 4
c a t e d o n t h e B a d a n d W h i t e r iv e r s ; 3 d e v e lo p e d h y d r o - e le c t r i c p la n t s o f
1 9 1 6 ........................... 3 0 9 . 7 2 3
1 9 2 .2 5 1
1 1 7 .4 7 2
4 4 .4 9 0
7 2 .9 8 2
5 ,4 0 0
h .p . a t S u p e r io r , M o ll e n a n d S a x o n F a lls ; 2 s t e a m p la n t s a t I r o n w o o d
1 9 1 5 ........................... 2 7 9 , 7 8 5
1 9 3 .2 7 1
8 6 .5 1 4
4 5 .4 8 5
4 1 ,0 2 9
a n d B e s s e m e r , 1 4 0 m ile s t r a n s m is s io n lin e s .
In S e p t. 1917 c o n s tru ctio n
R O A D . - ^ O w n s 14 m i l e s o f t r a c k .
S ta n d a rd g a u g e .
18 p a ssen ger c a r s .
w o r k o n a $ 1 0 0 ,0 0 0 1 ,2 0 0 -h .p . p la n t w a s b e g u n b y A s n . L . P . & S t . R y . C o
— V . 108, p . 1060. 1390, 2241; V . 109, p . 173, 371.
O F F I C E R S . — I 'r e a . L . E . M y e r s ; V . - P . , L . N . B o l s e n ; S e c . St T r e a s . ,
W m . If. P . W e s t o n .
O f f i c e , 53 W . J a c k s o n B l v d . , C h i c a g o , 111.— V. 104.
p . 452, 764; V . 107, p . 2476; V. 108, p . 2122.
J A C K S O N R A IL W A Y & L IG H T C O .
D i v i d e n d s .— 7 % p e r a n n u m In b e i n g p a id o n p r e f e r r e d ( I n c r e a s e d In 1 9 1 6
fro m 6 % p er a n n u m ).
8 % Is b e i n g p a i d o n c o m m o n s t o c k .
Gross.
Exv.
faxes.
Net.
Bond Ini.
Surplus.
JACKSON, TENN.
ISHPEMING, MICH.
M IC H IG A N
O AS
W e s t U t ilit ie s C o .
&
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by
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In
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on
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1906
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to
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above F eb
14 1 9 1 7 .
T h e c o m p a n y a c q u ir e d , e ffe c t iv e J a n . 1 1 9 1 7 , th e
C o n s t a n t i n e H y d r a u l i c C o . , T h r e e R i v e r s L i g h t St P o w e r C o . . T h r e e R i v e r s
G a s C o . M i l l i n g St P o w e r C o . , a n d t h e M a r q u e t t e C o u n t y G a s St E l e c . C o .
(e x c lu d in g th e s tr e e t r a ilw a y , w h ic h s e e b e lo w ).
O u tsta n d in g .
M a tu rity .
STO CK A N D BO N D S—
D a te .
In ter es t.
$ 5 0 0 ,0 0 0
--------------C o m m o n $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) -------- -----------4 0 0 ,0 0 0
.........................
P r e f c u m $ 4 0 0 ,0 0 0 ( $ 1 0 0 ) - . - - - - - 6%
5 7 9 ,1 0 0
J a n ________
1 1932
F ir s t & r e f $ 3 ,0 0 0 ,0 0 0 ($ 1 0 0 .) 1 9 1 7
5 g J -J
$ 5 0 0 $ 1 0 0 0 ) g o l d ____c * . t f ) C e n t r a l T r u s t C o . o f I l l i n o i s , C h i c a g o , t r u s t e e .
M C o G St E l 1 s t M $ 1 , 0 0 0 . - 1 1 9 1 0
6 g J -J
3 9 5 .0 0 0
Jan 1 1930
0 0 0 ( $ 1 , 0 0 0 ) g o l d _____c * . t f ( F i r s t T r u s t & S a v . B a n k , C h i c a g o , t r u s t e e .
H ough C o G as
&C o k e
C o l 1906
5 g F -A
7 7 ,0 0 0
S ee tex t.
$ 3 5 0 ,0 0 0 ($ 1 ,0 0 0 ) g . . c * . t f C e n t r a l T r u s t C o . o f I lli n o is , C h i c ., t r u s t e e .
- - y d r' a u" l i c
1905
5 g A -O
2 2 8 ,0 0 0 A p r 1 1 9 2 5
C o n s ta n tin e
H
Co
$ 2 5 0 ,0 0 0 ($ 1 ,0 0 0 ) g o l d . c . t f C e n t r a l T r u s t C o . o f I lli n o is , C h i c . , t r u s t e e .
1907
5 g A -O
5 9 ,0 0 0
O ct 1 1936
T h r e e R iv e r s G a s C o $ 7 5 ,0 0 0
( $ 5 0 0 ) .................. — --------- c * . t f D e t r o i t T r u s t C o . . D e t r o i t . M i c h . , t r u s t e e .
B o n d s . — T h e 1 s t St r e f . 5 s a r e s e c u r e d , in a d d i t i o n t o t h e i r l i e n o n t h e
p r o p e r t y , b y p le d g e o f e n t ir e c a p it a l s t o c k (w it h e x c e p t io n o f d ir e c t o r s '
s h a re s) o f th e M a r q u e t t e C o u n t y E le c . R y . C o .
S u ffic ie n t a re re s e r v e d to
r e t ir e p r io r lie n s a n d t h e b a l a n c e f o r c o r p o r a t e p u r p o s e s . A r e c a l l a b l e a t
1 0 2 y i St i n t . o n o r b e f o r e J a n . 1 1 9 2 7 a n d a t 1 0 1 & i n t . f r o m J a n . 1 1 9 2 7 t o
J a n . 1 1931 o n th r e e w e e k s ' n o t ic e .
O f t h e $ 3 9 5 ,0 0 0 M a r q u e t t e C o u n t y
G a s & E le c . C o . 1 st 6s r e p o r te d o u t s t a n d in g . $ 1 3 9 0 0 0 h a v e b e e n a s s u m e d
b y t h e M a r q u e t t e C o u n t y K le e . R y . C o . (s e e b o l o w ) , w h ic h h a s a c q u ir e d
a n d o w n s a p a r t o r t h e p r o p e r t y u p o n w h i c h t h e m o r t g a g e Is a l i e n .
S in k in g
fu n d o f 1 % fr o m 1913 to 1915 a n d 2 % th e r e a fte r .
A r e c a lla b le a t 105 o n
a n y In t. d a t e .
T h e H o u g h t o n C o u n t y G a s St C o k e C o . 1 s t 6 s a r e d u e s e r i
a ll y o n F e b . 1 a s fo ll o w s : 1 9 2 0 -2 4 , $ 5 ,0 0 0 p e r a n n .: 1 9 2 5 -2 9 , $ 6 ,0 0 0 p e r a n n .:
In 1 9 3 0 , $ 1 0 , 0 0 0 , a n d I n 1 9 3 1 t h e r e m a i n d e r .
T h e 1st M . 5s o f th e C o n
s ta n tin e H y d r a u lic C o . a r e s u b je c t t o c a ll a t 1 0 5 .
T h e 1st M . 5 s o f th e
T h r e e R iv e r s G a s C o . a r e c a lla b le a t 1 0 5 o n a n y in t . d a t e .
O F F I C E R S — P r e s ., L . E . M y e r s ; V . - P . , G . W . H a m ilt o n ; S e c ., E . V .
G r a h a m ; T r e a s . , O . E . M c C o r m i c k , C h i c a g o , 111.
C h ie f o p e r a t in g o f f ic e
7 2 W o s t A d a m s S t . , C h i c a g o , 111.
G e n e ra l o ffic e , I s h p e m fn g , M ic h .
(a ) T h e M a r q u e t t e C o u n t y E l e c t r i c R y . C o . — O r g a n iz e d w it h $ 2 5 ,0 0 0
c a p i t a l s t o c k ( a l l o f w h i c h , w i t h t h e e x c e p t i o n o f d i r e c t o r s ' s h a r e s . Is o w n e d
b y t h e M i c h i g a n G a s St E l e c . C o . )
P r o p e r t y l e a s e d t o t h e M i c h i g a n G a s St
E l e c . C o . u n d e r g e n e r a l c o n t r a c t w h ic h p r o v i d e s f o r p a y m e n t o f b o n d In
t e r e s t. o p e r a t in g e x p e n s e s a n d u p k e e p ,
rh e c o m p a n y has assu m ed $ 1 3 9 .
0 0 0 o f t h e 1 s t M . b o n d s o f t h e M a r q u e t t e C o u n t y G a s St E l . C o .
ITHACA, N. Y.
ITHACA TRACTION CORPORATION.
I n J a n . 1 9 1 8 F o r d , B a c o n Sc D a v i s , N . Y . C i t y , a c q u i r e d a s u b s t a n t i a l
I n t e r e s t in t h e C e n t r a l N . Y . S o u t h e r n
R R . C o r p ., w h ic h c o n t r o ls th e
Ith a c a T r a c tio n C o r p o r a tio n .
O R G A N I Z A T I O N . — I n c o r p . In N . Y . M a r . 3 0 1 9 1 4 a s s u c c e s s o r o f t h e
I t h a c a S tr e e t R y . s o ld a t fo r e c lo s u r e u n d e r b o n d h o ld e r s ' r e o r g a n iz a t io n p la n .
T h e n e w c o Is c o n t r o l l e d b y t h e C e n t r a l N
Y . S ou th ern R R . C o r p
a n a l
lie d s t e a m r o a d , b y o w n e r s h i p o r a ll t h e ( $ 4 0 0 ,0 0 0 ) o u t s t a n d i n g s t o c k a n d a ll
( $ 4 8 8 , 0 0 0 ) o u t s t a n d i n g 1 s t Sc r e f . b o n d s .
T h e C e n tra l N . Y . S o u th e rn R R .
C o r p . Is a r e o r g a n i z a t i o n o f t h e N e w Y o r k A u b u r n St l> a n s i n * R R . a n d is
c a p it a liz e d as f o ll o w s : C o m m o n s t o c k , a u t h ., $ 1 ,2 7 5 ,0 0 0 ; o u t s t a n d in g
$ 3 7 5 ,0 0 0 . P r e f. s t o c k , a u t h . a n d o u t s t a n d i n g . $ 7 2 5 .0 0 0 :a n d 1 st a n d c o l l ,
tru st 5s d u e 1 9 6 1 .
A u t h . $ 4 ,0 0 0 ,0 0 0 : o u t . . $ 1 ,0 0 0 ,0 0 0 .
( V . 9 9 , p . 5 3 8 .)
Fare Increase.— I n D e c . 1 9 1 7 t h e N . Y . P . S . C o m m . a u t h . t h e c o . t o
in c r e a s e it s fa r e s t o 6 c e n t s .
O n N o v . 14 1918 th e P . S . C o m m , g ra n te d
a u th . t o c h a r g e a 7 -c o n t fa r e w ith th e u n d e r s t a n d in g t h a t t h e o r d e r m a y b e
r e o p e n e d w h e n it a p p e a r s t h a t t h e r e a s o n s fo r a llo w in g t h e in c r e a s e n o
lo n g e r e x is t.
T h e c o . h a d a p p lie d fo r a 1 0 -c e n t fa r o .
V . 107, p . 2008.
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu r ity .
C a p i t a l s t o c k . $ 1 . 0 0 0 , 0 0 0 .....................................................
* $ 4 0 0 ,0 0 0
................ .....
1s t * r e f M $ 2 , 0 0 0 , 0 0 0 , g . r e d 1 1 9 1 4
5 A -O
* 4 8 8 .0 0 0 A p r
1 1964
a n y In t d a t e a t n a r & l n t c * t f lC o lu m b i a T r u s t
C o ., N . Y .. tru ste e .
I t h a c a S t r e e t R a il w a y 1st M l
1 8 9 2 6 J -J
1 7 5 .0 0 0 J u ly 1 1 9 2 2
$ 1 7 5 ,0 0 0
_______
tfl
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F a n n e r s L o a n St T r C o . . N .
2 n d M $ 7 5 , 0 0 0 ...................... t f . _
1894 6 J -J
7 5 .0 0 0 J u ly 1 1 9 2 2
C a y u g a L a k e E l R y 1st M . t f
1894 6 J -D
2 5 ,0 0 0 J u n e 1 1 9 2 2
» A ll o w n e d b y th e C e n t r a l N . Y . S o u th e r n R R . C o r p .
Bonds.—
O f t h e 1 s t 3c r e f . m t g e . 5 s , $ 4 8 8 , 0 0 0 a r e I s s u e d a n d a r e a l l o w n e d
b y th e C e n t. N . Y . S o.
R e m a in in g b o n d s a re r e s o r v e d fo r fu t u r e r e q u ir e
m e n t s . I n c lu d in g t h e r e t i r e m e n t o f t h e t h r e e u n d e r l y i n g p r i o r lie n a s a b o v e
E A R N I N G S .— F o r y o a r s e n d in g D e c . 3 1 :
Oper'g
Net (.after ■ Other
Bond
Dec. 3 1
Year—
Revenue.
ToxeO.
1 9 1 8 ....................... $ 2 2 4 , 6 6 4 d f . S 8 . 8 4 7
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4 2 ,3 5 3
Incom e. Interest.
$ 1 ,1 0 2
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S u r p lu s .
d e f.$ 5 2 ,7 9 7
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su r.
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R O A D . — O w n s a n d o p o r a t o s 1 1 .4 7 m ile s o f t r a c k .
an d 3 oth er cars.
R a ils , 8 0 -lb . " T . ”
O R G A N I Z A T I O N . — I n c o r p o r a t e d in T e n n e s s e e In J u l y 1 9 0 6 , a n d Is s u c
c e s s o r t o t h e J a c k s o n St S u b u r b a n S t r e e t R a i l r o a d C o .
F r a n c h is e s e x p ir e
in 1 9 6 3 .
A ls o o w n s a p a rk o f 15 a c r e s .
D o e s lig h t in g a n d p o w e r b u s in e s s
in a d d i t io n t o s t r e e t r a ilw a y .
In ter es t.
O u tsta n d in g .
M a tu rity .
D a te .
STO C K A N D B O N D S—
Q -F
$ 3 0 0 ,0 0 0
................... ...
C o m m o n $ 4 5 0 ,0 0 0 ( $ 1 0 0 ) - —
.............
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......................... P r e f e r r e d 6 % c u m _____________
_e $
............
.............
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5 g J -J
4 9 4 .0 0 0
J a n 1 1937
F ir s t m t g
6 0 0 , ....................
0 0 0 ($ 1 ,0
0 0 )1 1
N o s f.
R e d e e m a t 1 0 5 . - C / F i d e l i t y 3c C o l u m b i a T r . C o . , L o u i s v i l l e , T r .
S t o c k a n d B o n d s . — $ 1 5 0 , 0 0 0 c o m . a n d $ 1 0 6 , 0 0 0 b d s . a r e h e l d in t r e a s u r y .
E A R N I N G S . — F o r c a l. y e a r 1 9 1 8 , g r o s s , $ 1 4 2 ,5 9 1 : n e t , $ 4 0 ,0 4 7 .
In
1 9 1 7 , g r o s s , $ 1 2 6 ,9 1 7 : n e t , $ 4 5 ,5 3 0 .
R O A D . — O p e r a t e s 7 H m ile s o f t r a c k .
7 2 a n d 5 0 -lb . T r a ils .
O F F I C E R S . — P r e s . , O . E . C l a g g e t t : V . - P . 3c G e n . M g r . , S . S . B u s h ;
S e c . , G e o . W . L e w i s ; T r e a s . , F i d e l i t y 3c C o l u m b i a T r u s t C o . , a l l o f L o u i s
v ille . K y .— V . 8 3 . p . 9 5 .
_
JACKSONVILLE, FLA.
JACKSONVILLE TRACTION CO.— Trolley.
O R G A N I Z A T I O N . — I s a r e - l n c o r p o r a t l o n In M a s s . In M a r c h 1 9 1 1 ( V . 9 2 .
p . 8 8 1 ) o f th e J a c k s o n v ille E le c . C o . , w h ic h w a s a c o n s o lid a t io n o f t h e J a c k *
■ o n v llle S t . R y . C o . , th e M a in S t. R R C o . a n d th e J a c k s o n v ille E le c . L t . C o S to c k o f o ld c o m p a n y w a s e x c h a n g e d , sh a re fo r s h a r e , fo r s t o c k o f n ew c o m
D o e s e n tir e e le c t r ic r a ilw a y b u s
pany.
R a i l w a y f r a n c h i s e e x p i r e s in 1 9 3 2 .
i n e s s In J a c k s o n v i l l e .
$ 3 5 0 , 0 0 0 c o m . s t o c k is h e l d b y P u b S e r v . I n v e s t . C o .
O n F e b . 2 8 1 9 1 4 s h a r e h o ld e r s a u t h o r iz e d $ 5 0 0 ,0 0 0 a d d it io n a l p r e f. a n d
$ 5 0 0 ,0 0 0 a d d it io n a l c o m m o n , m a k in g $ 1 ,0 0 0 ,0 0 0 p r e f. a n d S I . 5 0 0 .0 0 0
com m on .
V. 98. p
763. 690. 611.
T h e c o . b e in g u n a b le t o r e fin a n c e t h e $ 7 5 0 ,0 0 0 6 % n o t e s d u e M a r . 1 1 9 1 9 .
t h e fo llo w in g
p r o te c tiv e c o m m itte e
w as fo r m e d
a n d h a s is s u e d a c a lf
fo r th e d e p o s it o f th e s e n o te s .
A s u ffic ie n t m a jo r it y o f t h e n o t e h o ld e r s
h a v e a s s e n t e d t o t h o d e p o s it a g r e e m e n t t o in s u r e t h e s u c c e s s o f t h is m e a s u r e .
V . 108, p . 1275.
,
„
, ,
C o m m ittee f o r 1 - Y e a r 6 %
N o t e s .— A lla n F o r b e s , S te d m a n
B u ttr ic k .
O r r in G . W o o d . E d w in 8 . W e b s t e r .
D e p o s ita r y , S ta te S treet T r u s t C o ..
B oston , M ass. V . 108, p . 1275.
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) ...................
..........
$ 1 ,0 0 0 ,0 0 0
See tex t
P r e f 6 % c u m $ 1 . 0 0 0 , 0 0 0 ( $ 1 0 0 ) _____
6 Q -F
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(e x t
F ir s t c o n s o l m t g e $ 5 ,0 0 0 .0 0 0 1
1911
5 M -S
8 2 9 0 0 0 M a r . 1 1931
( $ 5 0 0 a n d $ 1 . 0 0 0 ) _____ c * t f ( I n t . a t S t a t e S t r e e t T r u s t C o . , B o s t o n . T r u s .
Jackson v
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2 -y e a r c o u p o n n o te * $ 1 ,0 0 0 .-)
1917
6 M -S
7 5 0 .0 0 0
M ar 1 1916
0 0 0 g ( $ 5 0 0 St $ 1 , 0 0 0 )
,c * ) I n t . a t S ta te S t. T r u s t C o . B o s to n , T ru ste e
N o t e s p a y a b l e J u n e 3 0 1 9 1 9 . . _____
______________
2 9 8 ,0 0 0
_______________
S t o c k . — 1 1 0 0 ,0 0 0 c o m m o n s t o c k n o t r e p o r t e d o u t s t a n d i n g h e l d i n t r e a s u r y .
N o n - t a x a b l e in M a s s a c h u s e t t s .
B o n d s .— O f th e l i t c o n s o l, b o n d s . $ 1 ,2 4 5 ,0 0 0 a r e r e s e r v e d t o r e t ir e J a c k
s o n v ille E le c . 1st M . a n d $ 2 ,7 8 0 ,0 0 0 a re fo r a d d it io n s a n d I m p r o v e
m en ts a t 8 0 % o f c o s t.
S u b j e c t t o c a l l o n a n y i n t . d a t e a s a w h o l e o r in p a r i
f o r s i n k i n g f u n d a t 10.5 a n d i n t .
F u t u r e is s u e s o f th e s e b o n d s m a y b e a r
In te r e st a t a lo w e r r a te th a n 5 % i f s o d e t e r m in e d b y t h e d ir e c t o r s .
S in k in g
fu n d , 1 % p er a n n u m o f b o n d s o u t b eg a n M a r . 1 1 917. V . 9 2 , p . 1564.
$ 2 0 , 5 0 0 in s i n k i n g f u n d c a n c e l e d a n d $ 1 6 9 , 0 0 0 I n t r e a s u r y .
J a c k s o n v ille
E le c . C o . b o n d s a re s u b je c t t o c a ll a s a w h o le a t 1 0 5 a n d I n te re st o n a n y
In terest d a te .
A sin k in g f u n d o f 1 % a n n u a lly o f b o n d s o u t c o m m e n c e d
M a y 1 1 9 0 7 , w h ic h m a y 6 c u s e d f o r e x t e n s io n s a n d im p r o v e m e n t s o r in
p u rch ase o f b on d *.
$ 5 ,0 0 0 b o n d s h a v e b e e n c a n c e le d .
T h e co u p o n n otes
a r e c a lla b le a s a w h o le a t 1 0 0 a n d in t e r e s t o n 3 0 d a y s ' n o t ic e .
D iv id e n d s .— P a id I M % q u a r . o n p r e f . t o M a y 1 9 1 5 ' In A u g . ’ 1 5 p a i d % %
a n d s a m e r a t e q u a r . t o a n d I n c l. N o v . 1 9 1 6 . F e b . 1 9 1 7 d l v . p a s s e d . ( V . 1 0 4 .
p . 3 6 1 ) . N o n e s in c e . O n o ld E le c tr ic C o . c o m . 6 % a n n . f r o m A u g . 1 1 9 0 5 t o
A u g . 1 1 9 1 0 . w h e n r a te w a* in c r e a s e d t o 7 % a n d s a m e a m o u n t p a id t o
F eb. 1911.
O n n e w T r a c tio n C o . c o m . in it ia l d i v . —
— pai d i n M a y
1 9 1 1 : s a m e r a te q u a r t o a n d in c lu d in g N o v
1914.
N o n e s in c e .
E A R N I N G S .— F o r 12 m o n th s e n d in g J u n e 3 0 :
Y ea r—
G ross.
N e t (a ft. T a x .)
In ter es t. S k . , A c ., F d s .
S u r p lu s .
1 9 1 9 ___________ $ 1 , 0 2 5 , 6 0 1
$ 1 5 2 ,2 6 5
$ 1 7 7 ,1 3 9
................ d e f . $ 2 4 , 8 7 4
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R O A D . — O p e r a t e * 6 4 .1 m ile s o f e q u i v a l e n t s in g l e t r a c k . H a s 1 1 9 c a r s .
G a u g e 5 fe e t.
P o w e r p la n t c a p a c it y . 2 .4 0 0 k . w .
O F F I C E R S . — P r e s ., G e o . J . B a ld w in . N e w
Y o r k : V .-P s .. C h a s
P.
W a lla c e a n d H a rry H . H u n t; T r e a s .. H e n ry B . S a w y e r ; C le r k ., A lv a h K .
T o d d : M g r .. H a r d y O r o o m . J a c k s o n v i l l e , F l a . : G e n
\ t g r s . 'b . o n e 3t W e b
s te r M g t . A s s n ., B o s t o n . V . 1 0 4 , p . 9 5 2 , 1 7 0 2 ; V . 1 0 8 , p . 1 2 7 5 .
JAMESTOWN, N. Y.
Y.
JA M E STO W N
STR E E T
R A I L W A Y .— T r o lle y .
O R G A N I Z A T I O N .— I n c o r p o r a t e d O c t . 18 1 8 8 3 .
STO C K A N D BO N D S—
D a te .
In ter es t.
O
S t o c k $ 2 5 0 , 0 0 0 ( p a r $ .5 0 ) .........................................................
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( $ 1 , 0 0 0 ) ............... - ....................c * l i n t , a t G u a r a n t y T r u
C u r r e n t l i a b i l i t i e s D e c . 3 1 1 9 1 7 _____
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F r a n c h is e r u n s t ill 1 9 8 2 u tsta n d in g .
M a tu rity $ 2 .5 0 .0 0 0
............................
3 0 0 .0 0 0
Jan 2 1923
st C o . N . Y .. T ru ste e .
1 ,5 8 3 .3 5 2
________________
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ear—
G ross.
N e t.
O th .I n c .
1 9 1 8 ...................... $ 1 4 4 , 9 1 3
$ 3 2 ,1 8 6
$ 2 8 ,3 6 8
1 9 1 7 ...................... 4 4 2 . 4 3 5
6 6 ,1 8 2
2 7 ,3 2 3
C h g s .A T a z e s .
B a la n c e „
$ 1 2 4 ,7 4 5
d e f.S 6 4 ,2 0 O
1 2 1 ,3 2 2
d e f.2 7 8 7 6
R O A D . — O w n s 2 6 .5 4 .5 m i l e s o f t r a c k , 6 1 c a r s , 2 s w e e p e r s .
O w n s 2 9 m o to r cars
O F F I C E R S . — P r e s . . A . N . B r o a d h e a d ; S e c . St T r e a s . , S . B . B r o a d h e a d ; G e n . M g r . . G . E . M a l t b y , a ll o f J a m e s t o w n .
O F F I C E R S . — P r o s . , R . B . W i l l i a m s , I t h a c a , N . Y . ; 1 s t V . - P . , 3c G e n .
C o n n . . C h a s . E . H o t c h k i s s , 3 4 N a s s a u S t . , N . Y . ; 2 d V . - P . 3c G e n . M g r . ,
C H A U T A U Q U A T R A C T I O N C O . —A t r o ll e y r o a d .
J.
C . N e l s o n , S y r a c u s e ; S e c . 3c T r e a s . , S . C . S t i v e r s , N . Y . — V . 1 0 7 , p . 2 0 0 S .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In N e w Y o r k o n M a r c h 7 1 9 0 3
I*
c o n tr o lle d b y th e * a m e In te re sts a s th e J a m e s to w n S tr e e t R y .
JACKSON, MISS.
JA C K SO N
L IG H T
&
T R A C T IO N
CO .
S a l e .— O n J u n e 2 4 1 9 1 9 t h e c o . ' s p r o p e r t y w a s s o l d t o
th e A m e r ic a n
P u b l i c U t ilit ie s C o . , f o r t h o n o m in a l s u m o f $ 5 ,0 0 0 . s u b je c t t o a ll lie n s . 3cc.
W o a r e in fo r m e d t h a t “ t h e c i t y a u t h o r it ie s h a v e g r a n t e d t h e n e w o w n e r s
e m in e n t ly s a t is fa c t o r y fr a n c h is e s u n d e r w h ic h t h o n e t e a r n in g s w ill w it h o u t
d o u b t b e la r g e ly in c r e a s e d ."
C om p are Y . 109, p . 371 an d V . 108, p . 2241,
1390, 1080.
D e fa u lt.— I n t . d u o A p r il 1 1 9 1 9 o n
lo w in g c o m m it t e e w a s fo r m e d :
t h e 1 st M . 5 s b e in g u n p a id , th e fo l
C o m m it t e e f o r 1 st M . 5 s . — C h a i r m a n , W m . T . B a c o n ; L a w r e n c e M .
S y m in a s , A r t h u r C . A ll y n , C r a w fo r d L iv in g s t o n ; S e c ., R o y K . T h o m a s , c a r e
C h i c a g o S a v . B a n k 3c T r u s t C o .
D e p o s i t a r y , C h i c a g o S a v . B a n k 3c T r u s t
C o . , C h i c a g o , 111, V . 1 0 8 , p . 2 2 4 1 .
O R G A N I Z A T I O N . — I n c o r p . In M i s s . In M a y 1 9 1 2 t o c o m b i n e l o c a l g a s
• lo c tr lc lig h t a n d p o w e r a n d s t r e e t r a ilw a y p r o p e r t la s .
H a s c o n tr a c t fo r
c i t y e le c t r ic lig h t in g r u n n in g to A p r il 1 9 2 3 .
F r a n c h is e s e x t e n d b e y o n d
A p r il 1 1 922.
I n S e p t . 1 9 1 9 t h o c o m p a n y p u t o u t $ 1 2 5 ,0 0 0 a d d it io n a l 1 s t m t g e . 5 s
( in c lu d e d in a m o u n t o u t s t a n d i n g ), p r o c e e d s b e in g u s e d f o r n e w c o n s t r u c
t i o n , St c .
STO C K A N D BO N D S—
Date.
Interest. Outstanding.
M aturity.
8 t o e k $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) __________ ________
_______
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_
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6 0 0 .0 0 0 A ~ p r iiT 1 9 3 4
( * 1 ,0 0 0 )
..
. . . .
c f In t a t T itle G u a r. & T r . C o .. N . Y ..T r u s t e e
C u r r e n t l i a b i l i t i e s D e c . 3 1 1 9 1 7 _____
__________
6 9 1 ,4 5 5
B o n d s .— N o s in k in g f u n d a n d a r e n o t s u b j e c t t o c a l l . ’
E A R N I N G S .— F o r
y e a r e n d in g
.
J 9 J 8 -------------------- - - - 5 1 3 2 , 2 6 5
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-----------1 .0 1 6
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D eficit.
$ 6 1 ,5 7 6
4 8 .2 8 5
R O A D .— O p e r a t e s 2 6 . 7 3 m i l e s o f t r a c k f r o m L a k e w o o d , w h e r e c o n n e c
t i o n Is m a d e w i t h t h e J a m e s t o w n S t . R y . . t o M a y v i l l e , t h e r e c o n n e c t i n g
w ith t h e P e n n s y lv a n ia R R . , a n d t o W e s t fie l d . N . Y .,c o n n e c t i n g t h e r e w it h
t h e L a k e S h o r e St M i c h . S o . a n d t h e N Y . C h i c a g o Sc S t . L o u i s R y . . an d >
fr o m W e s tfie ld t o B a r c e lo n a -o u -L a k e E r ie .
S t a n d a r d g a u g e ; S O -lb . T r a i l ^ O F F I C E R S .— P r e s ., A . N . B r o a d h e a d ; V . - P . , W m . B r o a d h e a d ; T r e a s - ,
4 B . B r o a d h e a d ; S e c ., W . R . R e y n o ld s ; M g r ., G e o . E . M a lt b y ;
JERSEY CITY, N. J.
P U B L IC S E R V IC E C O R P O R A T IO N .
S ee s ta tem en t a n d m a p u n d er "N e w a r k . N . J ."
58
ELECTRIC RAILWAYS
JOHNSTOWN, PA.
JO H N STO W N
T R A C T IO N
C O .— A
tr o lle y r o a d .
O R G A N I Z A T I O N . — I n c o r p . in P e n n s y lv a n ia o n F e b . 2 4 1 9 1 0 .
W as
I n c o r p o r a t e d o r ig in a lly t o t a k e a le a s e fo r 18 y e a r s fr o m J a n . 5 1 9 1 0 o f t h e
J o h n s t o w n P a s s. R y . fr o m t h e A m e r ic a n R y s . ( P h il a .) .
In J a n . 1914 th e
J o h n s to w n P ass. R y . a n d th e J o h n s to w n T r a c . C o . w ere m e rg e d u n d e r th e
t i t l e o f t h e J o h n s t o w n T r a c t i o n C o . , t h e A m e r i c a n R y s . C o . h a v i n g s o l d it s
In te re sts.
F r a n c h is e s p e r p e t u a l.
H o ld e r s o f t h e J o h n s t o w n c o lla t e r a l 5 s o f A m e r . R y s . h a d th e p r iv ile g
(u n til J a n . 15 1 9 1 4 ) o f e x c h a n g in g th e ir b o n d s f o r t h e n e w 1st A r e f. 5s o
t h is c o m p a n y (s e e A m e r ic a n R a ilw a y s u n d e r “ P h il a d e l p h i a " ) ; p r a c t ic a ll y
a ll a v a ile d o f t h e p r iv ile g o .
ST O C K A N I) B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 . 0 0 0 , 0 0 0 p a r $ 5 0 ................................................
* 8 7 5 .0 0 0
............................
...........................
P f * 1 . 0 0 0 . 0 0 0 7 % c u m ( S 1 0 0 ) .............................................
1 .0 0 0 .0 0 0
F ir s t A r e f M * 5 .0 0 0 ,0 0 0 » f l
1913 5 * J -J
2 .0 0 0 .0 0 0 J u ly 1 194 3
($ 5 0 0 . $ 1 ,0 0 0 ) g o l d _ _ c * n t f / L o g a n T r u s t C o . , P h ila d e lp h ia , T r u s t e e .
J o h n s P a s s R y c o n M . $ 8 0 0 .0 0 0 1
1899 4 g J -D
3 9 9 .0 0 0
D e c 1 1929
g (S 1 .0 0 0 )r e d a n y l n t d a y c * t f j I n t . a t G u a r a n t y T r . C o . . N . Y . . T r u s t e e .
J o h n s P a s s R y r e f M $ 2 ,0 0 0 .-1
1901 4 * J -D
1 .6 0 1 .0 0 0
D e c 1 1931
0 0 0 g o l d ( $ 1 . 0 0 0 ) ____ c * n t f ) I n t e r e s t a t J o h n s t o w n T r u s t . C o . . T r u s t e e .
B o n d s .— O f t h e f i r s t & r e f . m t g e . * 2 . 0 0 0 . 0 0 0 a r e r e s e r v e d t o r e t i r e J o h n s
t o w n P a s s. R y . 4 s ; th e r e m a in d e r ($ 1 ,0 0 0 ,0 0 0 ) r e s e r v e d fo r fu t u r e e x t e n
s io n s . A c .
R e d a t 102 a n d in t .
S in k in g f u n d o f 1 % a n n u a ll y b e g a n O c t . 1
1917.
O f t h e J o h n s t o w n P a s s m t g e . o f 1 9 0 1 , e n t i r e is s u e m a y b e c a ll e d
a t a n y tim e a t 105 u p o n s ix w e e k s ' n o t ic e .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ear—
G ross.
N e t (a ft. T a x .). B on d In t.
S u r p lu s .
1 9 1 7 .....................................................* 8 0 2 . 2 8 7
* 3 0 3 ,6 5 7
* 1 8 0 .9 7 1
.
* 1 2 2 ,6 8 6
1 9 1 6 ..................................................... 7 7 2 . 2 1 9
3 6 0 .4 2 4
1 8 0 .0 0 0
1 8 0 .4 2 4
R O A D , A C .— O w n s a n d o p e r a te s u n d e r p e r p e tu a l c h a r te r a n d fr a n c h is e
th e e n tir e s tr e e t r a ilw a y s y s te m o f J o h n s t o w n , P a ., a n d v i c in it y .
T ota l
t r a c k a g e , 4 3 m ile s .
O F F I C E R S .— P r e s ., E . M . d u P o n t .— V . 9 8 , p . 1 5 5 ; V . 1 0 9 , p . 1 0 7 9 .
J O L IE T
&
EASTERN
JOLIET, ILL.
T R A C T IO N
E A R N I N G S .— F o r y e a r e n d in g J u n e 3 0 1 9 1 9 , g r o s s , $ 7 4 ,2 7 9 :1 9 1 8 , g r o s s ,
* 6 1 ,5 0 7 : in 1 9 1 6 - 1 7 , g r o s s , * 6 6 ,0 5 5 : in 1 9 1 5 - 1 6 , g r o s s , $ 6 0 ,3 2 7 .
R O A D . — T o t a l l e n g t h o f a ll t r a c k . 2 5 m il e s , e x t e n d i n g f r o m J o l i e t t o
C h ic a g o H e ig h ts .
6 0 -I b T r a il; s t a n d a r d g a u g e .
O F F I C E R S .— P r e s ., J o y M o r t o n , C h ic .; V .- P ., R o b t . T . K e ll y . J o lie t ;
S e c ., E . H
S te a r n s . C h ic .; T r e a s ., D a n ie l P a te r k in . C h ic .; G e n . M g r ..
F . O . E c k m a n n , J o lie t .— V . 9 9 , p . 1 8 3 2 ; V . 1 0 7 , p . 1 3 8 5 .
A U R O R A P L A IN F IE L D & J O L IE T R Y ,
T h i s is t h e d i v i s i o n o f t h e f o r m e r J o l i e t A S o u t h e r n T r a c t i o n , e x t e n d i n g
f r o m J o l i e t r o A u r o r a . 2 0 m i l e s , a n d 2 m i l e s o f t r a c k In J o l i e t , p u r c h a s e d b y
t h e b o n d h o l d e r s ' c o m m i t t e e a t f o r e c l o s u r e s a l e In F e b
1914
I t Is b e i n g
o p e r a t e d fo r th e b e n e fit o f th e b o n d h o ld e r s .
T o t a l re v e n u e s fo r th e y e a r
e n d e d J u n e 3 0 1 9 1 9 . $ 1 1 7 ,8 9 2 ; n e t , $ 2 2 ,3 2 5 .
F o r th e d iv is io n o f th e o ld
J o lie t A S o u t h e r n T r a e . C o . , e x t e n d in g fr o m J o lie t t o C h ic a g o H e ig h t* ,
se e J o lie t & E a s te r n T r a c t io n C o . a b o v e .
P r e s ., F . K . S h r a d e r , C h ic a g o ;
G e n . M g r ., R . A . M o o r e .
B L O O M I N G T O N P O N T I A C & J O L I E T E L E C . R Y .— A tr o lle y r o a d
O R G A N I Z A T I O N . — I n c o r p o r a t e d in 1 9 0 3 .
P r iv a t e r ig h t o f w a y e x c e p t
c it ie s , w h e r e fr a n c h is e s ru n 5 0 y e a r s .
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
* 9 5 ,5 0 0
................... ...
S t o c k * 2 . 5 0 0 . 0 0 0 ( $ 1 0 0 ) ........................................................
F ir s t m o r t g a g e $ 2 ,5 0 0 ,0 0 0 g ( 1 9 0 5
5 g M -S
3 0 0 300 S ept 1 1935
($ 1 0 ). $ 5 0 0 a n d $ 1 ,0 0 0 ) .. (I n t. a t C o n t A C o m m . T r A S . B ., C h lc .,T r .
I n t o n b o n d s Is g u a r , f r o m M a r . 1 1 9 1 6 b y t h e P u b . S e r v C o . o f N o r III
E A R N I N G S .— F o r y e a r e n d in g D e c . 3 1 1 9 1 6 . g r o s s . $ 2 5 ,7 5 6 ; n e t (a ft e r
ta x e s o f * 1 ,6 8 0 ) . lo s s , $ 1 ,2 0 1 .
In 1 9 1 5 , g r o s s , * 2 4 .4 4 1 ; n e t , (a ft e r ta x e s
o f * 1 ,6 9 8 ), lo s s , $ 6 1 .
O F F I C E R S .— P r e s ., F r a n k J . B a k e r ; V . - P . , C h a s . A . M u n r o e : S e c .Paul D
S e x t o n ; T r e a s .. J o h n H . G u ll c k . a ll o f 7 2 W . A d a m s S t . . C h i c a g o
ill.
O f f i c e a t P o n t i a c . 111.— V . 8 5 . p . 1 0 0 4 : V . 9 0 . p . 2 3 5 ; V . 9 6 , p . 6 5 t .
KANSAS CITY, MO.
K AN SAS
C IT Y
R A IL W A Y S .
O R G A N I Z A T I O N . — O r g a n iz e d u n d e r M is s o u r i la w s J u n e 6 1 9 1 4 a n d
o n F e b . 15 1 9 1 6 t o o k o v e r t h e p r o p e r t i e s o f t h e M e t r o p o l i t a n S t r e e t R y . .
K a n s a s C it y E le v a t e d R y . a n d K a n s a s C i t y A W e s t p o r t B e lt R y . in a c
c o r d a n c e w it h th e p la n o f r e o r g a n iz a t io n o f t h e K a n s a s C i t y R y . A L fg ir
C o . in V . 1 0 1 , p
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O w n * a n d o p e r a t e s e n tir e s tr e e t r a il
w a y s y s t e m s e r v in g K a n s a s C i t y a n d I n d e p e n d e n c e , M o . , K a n s a s C it y a n d
R o s e d a le , K a n ., a n d J a c k s o n C o u n t y , M o . ; p o p u la t io n s e r v e d , o v e r 4 2 5 ,0 0 0
F r a n c h is e O r d in a n c e . A c . — T h e
e x c lu s iv e
3 0 -y o a r
fr a n c h is e g r a in e d
b y K a n s a s C i t y J u l y 7 1 9 1 4 f i x e d t h e c a p i t a l v a l u e o f t h e p r o p e r t y in
M is s o u r i a t * 2 5 .6 4 8 .8 0 6 . p lu s c a n it a l a d d it io n * a ft e r J u n e I 1 9 1 3 .
(V a l
u a t i o n p l a c e d o n p r o p e r t i e s In M i s s o u r i a n d K a n s a s a s o f J u n o 3 0 , 1 9 1 9 ,
* 3 6 .2 3 1 ,1 3 0 ).
O n th e M is s o u r i c a p it a l v a lu e , * 3 0 .2 5 6 ,6 4 6 , th e c o m p a n y
r e c e iv e s 6 % c u m u la t i v e , a n y b a la n c e o f M in s o u r i e a r n in g s , a ft e r t h e a p p li
c a t io n o f * 6 ,1 4 8 ,8 0 7 o f s u r p lu s e a r n in g s t o a d d it io n s a n d e x t e n s io n s , t o b e
c r e d it e d tw o -t h ir d s t o th e c it y a n d o n e -t h ir d t o th e c o m p a n y .
T h e c ity
h a v i n g n o in t e r e s t in K a n s a s e a r n i n g s , t h e i n c o m e f r o m o p e r a t i o n o f t h e
K a n s a s p r o p e r t y b e lo n g s e n tir e ly t o th e c o m p a n y .
N o t le s s th a n 1 6 %
o r g r o s s e a r n in g s m u s t b o a p p l ie d t o m u in t ., r e n e w a ls , d e p r e c 'n , A c . , a n d
n o t le s s t h a n 4 % t o d a m a g e c l a i m s .
F a r e s (u n le s s r e d u c e d a t e x p e n s e o f
c i t y 's s h a r e o f s u r p l u s i n c o m e ) a r e f ix e d a t 5 c e n t s f o r a d u l t s a n d 2> 4 c e n t s
f o r c h ild r e n b e tw e e n 8 a n d 12 (b u t s e e b e l o w ) .
T h e c i t y h a s th e r ig h t t o
p u r c h a s e t h o p r o p e r t y in M i s s o u r i a t o r b e f o r e t h e e n d o f t h e 3 0 - y e a r p e r i o d
o n t h e b a s is o f a fo r e s a id v a lu a t io n a n d s u b s e q u e n t a d d i t io n s .
O p e r a tio n
o f th e p r o p e r t ie s t o b e u n d e r t h e s u p e r v is io n o f a B o a r d o f C o n t r o l, c o n
s is tin g o f P h ilip J . K e a ly f o r th e R a ilw a y s C o . a n d R o b e r t P . W o o d s fo r
th e c it y .
C i t y a l s o n o m i n a t e s 5 o f t h e 11 d i r e c t o r s .
S e e fr a n c h is e o r d in
a n c e in d e t a il in V . 9 9 . p . 1 9 6 , a n d a ls o V . 9 9 , p . 1 1 9 .
F r e i g h t S e r v i c e .— O p e r a t e s a n o x p r e s s a n d f r e i g h t s e r v i c e b e t w e e n K a n s a s
C ity a n d In d e p e n d e n ce , M o ., a n d D o d s o n , M o .
S e e a ls o V . 1 0 7 , p . 9 0 5 .
W a g e I n c r e a s e .— V . 1 0 7 . p . 4 0 2 , 1 8 3 7 .
F ares,
— On June 2
1918 w as a u th . b y th e M o . P . S . C o m m , to
in c r e a s e fa re s fr o m 5 c e n t s t o 6 c e n ts , e ffe c t iv e J u ly 15 1 9 1 8 fo r o n e y e a r .
O n S e p t . 7 1 9 1 8 C h i e f J u s t i c e B o n d in t h e M i s s o u r i S u p r e m o C o u r t o v e r
r u le d t h o a c t io n o f C ir c u i t J u d g e J o h n G . S la te (w h o r e fu s e d t o p e r m it th e
c o . t o f il e a s u p e r s e d e a s b o n d in t h e 6 - c e n t f a r e c a s e , t h u s g i v in g t h e c i t y a
5 - c e n t fa r o .) a n d a u t h . t h e c o . t o c o n t in u e c h a r g in g a 6 -c e n t fa r o , p e n d in g
fin a l d e c is io n b y t h e S t a t e S u p r e m e C o u r t .
V . 107, p . 1192.
T h is d e c is io n
w a s h a n d e d d o w n o n D e c . 3 1 1 9 1 8 a n d u p h e ld th e r u lin g o f t h e M o . P . S .
C om m .
V . 108. p . 171.
T h e c it y h a s a p p e a le d t o th e U . S . S u p re m e
C o u rt.
V . 108. p .1 7 1 .
O n J u l y 11 1 9 1 9 t h e M o . P . S . C o m m . a u t h . t h e
c o ; t o c o n t in u e t h e 6 -c e n t fa r e , p e n d in g in v e s t ig a t io n b y t h e C o m m , o f th e
c o 's . a p p l ic a t io n f o r a u t h . t o c h a r g e a 1 0 - c e n t f a r e w it h t ic k e t s a t 2 f o r 1 5
cen ts.
V . 109, p . 270.
O n A u g . 4 1919 th e M o . P . S . C o m m . a u th . th e
c o . t o in c r e a s e fa r e s fr o m 6 t o 8 c e n t s , t ic k e t s t o b o s o ld a t 2 fo r 15 c o n t s ,
7 f o r 5 0 c e n t s a n d 5 0 f o r * 3 5 0 , th e s e r a t e s t o c o n t in u e in e f f e c t f o r o n e y e a r
fr o m A u g . 2 0 1 9 1 9 .
V . 109, p. 577.
C om p are V . 109, p . 270.
The
c o m p a n y , b e in g u n a b le t o p a y its m e n th e in c r e a s e d w a g e s a w a r d e d b y th e
W a r L a b o r B o a r d , f i l e d s u i t in t h e U . S . D i s t r i c t C o u r t a s k i n g i t t o c o n s t r u e
t h e o r d e r o f t h e B o a r d a n d d e t e r m in e w h e th e r o r n o t th e c o m p a n y w a s r e
q u ir e d t o p a y th e in c r e a s e d w a g e s o n t h e 6 -c o n t fa r o .
T h e C o u r t d e c id e d
t h a t t h e c o m p a n y w a s n o t o b li g a t e d t o p a y t h e in c r e a s e d w a g e s u n le s s th e
S t a t e g r a n t e d t h e c o m p a n y a h ig h e r fa r e .
T h e c o m p a n y th e r e u p o n a p p lie d
t o t h e M o . P . S . C o m m ., a s k in g a u t h . t o c h a r g e a n 8 -c o n t fa r e in o r d e r t o
m eet th e a w ard o f th e W a r L a b o r B oa rd .
T h e S ta te o p p o s e d t h is a c t io n
a n d s a m e w a s n o t g r a n t e d b y th e M is s o u r i P u b lic S e r v ic e C o m m is s io n
(b u t se e a b o v e ).
D e s p it e th e d e c is io n o f t h e U . S . D is t r ic t C o u r t , t h e W a r
L a b o r B o a r d u n d e r t o o k t o r e q u ir e th e c o m p a n y t o p a y th o a d v a n c e d w a g e s ,
w it h o u t r e g a r d t o in c r e a s e d fa r e s .
T h is th e c o m p a n y re fu s e d t o d o .
In
109
t h e m e a n t im e t h o o l d e m p lo y e e s h a d g o n e o n s t r ik e , a n d in M a r c h 1 9 1 9
w a s o p e r a t in g w ith lo y a l e m p lo y e e s a n d n o w m e n w h o w e r e b e in g p a id t h «
w a g e s p a id b y t h o c o m p a n y p r io r t o t h e W a r L a b o r B o a r d ’s a w a r d . V . 1 0 8 ,
p . 1390.
O n A p r i l 1 0 1 9 1 9 t h o K a n s a s P . U . C o r a m . d e c i d e d t h a t f a r e s in
K a n s a s C i t y , K a n ., a r e t o c o n t in u e a t 5 c e n t s , w h ile t r ip s a c r o s s t h e S ta ts
lin e , w ill c o s t 6 c e n t s .
V . 108, p . 1610.
In M a y 1919 F ed era l J u d g s
J o h n C . P o llo c k a p p o in t e d A . L . B e rg e r o f K a n s a s C it y , K a n ., a n d F r a n k
H a g e r m a n o f K a n s a s C it y , M o ., a s a r b itr a to r s t o a d ju s t t h o fa r e a n d o th e r
d is p u te s b e t w e e n th e c o . a n d t h o c it y o f K a n s a s C it y , K a n .
T h e K ansas
P.
U . C o m m , a g r e e d t o th e a r b it r a t io n p la n .
J u d g e P o llo c k r e t a in s t h s
r ig h t t o m o d ify th e fin d in g s o f t h e a r b itr a to r s i f h o s o d e sir e s.
T h o c ity
h a s b o u n d it s e lf t o a d o p t s u c h o r d in a n c e s a s m a y b e n e c e s s a r y t o e n fo r c s
t h e fin d in g s o f t h e a r b it r a t o r s .
V . 108, p . 2022.
I n D e c . 1 9 1 7 is s u e d S I . 0 0 0 .0 9 0 6 % 2 - y e a r c o l l , n o t e * f o r e x p e n d i t u r e s
a l r “ a d jr m a d e o r t o b e m a d e f o r i m p r o v e m e n t s , e x t e n s i o n s A c .
I n P e o . 1 9 1 8 t h e M o . P . S . C o m m . a u t h . th e c o . t o Issu e * 1 ,1 5 1 .8 3 0 a d d i
t io n a l c a p it a l s t o c k , r e p r e s e n tin g im p r o v e m e n t s m a d e s in c e M a y 1 1 9 1 5 .
U p t o J u n e 3 0 1 9 1 9 t h is h a d n o t b e e n is s u e d .
I n J u ly 1 9 1 8 is s u e d * 7 ,7 5 0 ,0 0 0 3 -y e a r c o l l . 7 % n o t e s t o r e t ir e t h e $ 6 ,
2 5 9 ,0 0 0
3 - y e a r n o t e s d u e J u ly 1 1 9 1 8 , a n d t o p a y in p a r t f o r i m p r o v e m e n t s ,
e x te n s io n s , A c .
V . 107, p . 181.
O n A u g . 2 7 1 9 1 9 , E a s t e r n b a n k e r s lo a n e d t h e c o . $ 1 ,0 0 0 ,0 0 0 o n th a
p erson al en d orsem en t o f J. O gden A rm ou r.
A s s u r a n c e s o f fu r t h e r fin a n c ia l
a s s is t a n c e , in t h e e x t e n s io n o f t h o $ 1 ,0 0 0 ,0 0 0 s h o r t -t e r m n o t e s d u e D o c . 1 ,
1 9 1 9 a ls o w e r e in c lu d e d in t h e n e g o t ia t io n s .
V . 109, p . 982.
I n t e r e s t P a y m e n t s .— T h o J u l y 1 1 9 1 9 i n t . o n t h o c o ’ s . 1 s t a n d 2 n d m t g e .
b o n d s w a s p a id A u g . 2 8 1 9 1 9 . V . 1 0 9 , p . 9 8 2 .
C om p are V . 109, p . 173.
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