Full text of Commercial and Financial Chronicle : November 26, 1887 : Investors' Supplement, Vol. 45, No. 1170 [Copy 1]

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USTo^exnLlDez?

X L V.

VOLUME

WILLIAM
102

The Investors* Supplement

R

DANA

WILLIAM

1887.

26,

&

CO.,

STh’EKT,

PUBLISHERS,

NKW

YORK.

is issued once in two months,

viz., on

January, March, May, July, -September and November, and one copy

of each issue is fur¬
sold to subscribers of

subscriber of the CHRONICLE.
Extra copies are
CHRONICLE at 50 cents each, or to others than subscribers at $1 per copy.

nished to

the

the last Saturday of

every

Entered aoootdlntf to Act




of Congress in the year 1*87.

by Wu.liam B. Dana & CO., in the office of the Librarian of Congress. Washington, D. CJ

JANNEY,

CHRYSTIE
BANKERS

Nos. 2j
01

cou.

cedar

&

Nassau Street,

25

general banking business.
Receive deposits subject to check at -sight.
Allow interest on daily balances.
Deal in United States Government and railroad bonds, and State, County and
Make collection of drafts, note?, dividends and coupons throughout the United
Render statements of current accounts monthly.

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Give
And

a

42
IN

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INVESTMENT SECURITIES.
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:

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1873.

ESTABLISHED

Pine Street.Com¬

Co., publishers of the
mercial ck Financial Chronicle.

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Bank.

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when desired.

FLOYD,

REFERENCES

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Municipal securities.
States and Canada.

of bullion, and make liberal advances on same

special attention to consignments
invite correspondence.

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YORK.

NEW

st.

185.

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OF

THE

Commercial & Financial Chronicle.
[Entered according to act of Congress, in

YOL.

the year 1387. by Wm. B. Dana & Co., in the office of the Librarian of Congress, Washington, D. C.]

NEW

45.

YORK,

NOVEMBER

SUPPLEMENT.

INVESTORS’

Now that stock

42
44
46

speculation has revived on our Exchange,
greater confidence in values is felt, bonds are also
absorbing more attention.
The desire of course, as
always, is to find some bonds which, while affording a
reasonable assurance of the safety of principal and inter¬
est, can yet be purchased at prices which seem low along¬
side of the quotations ruling for the best class of bonds—
those of known merits and established reputation.
Low and high are merely relative terms, and neither
the one nor the other possesses any significance except in
comparison with the current range of quotations. It does
not follow that because a security is selling at a low figure
as compared with another security similar in kind that there,
fore it is cheap or a good purchase.
On the contrary, the
higher-priced bond might prove much the better investment.
But these are matters for judgment or discretion which
every investor may be expected to settle in his own way.
We have brought together in the present case, and give at
the end of this article, a list of all interest-paying bonds
selling on the New York Exchange at or below certain
fixed but arbitrary prices.
With this list before him the
investor has only to cast his eye over it, and when a bond
strikes his fancy look up the facts with regard to it, and
the company issuing it, in the pages of the Investors’

48

Supplement and the Chronicle.

The Supplement is published ou the last Saturday of every other
month—viz., January, March, May, July, September and November;
Mid one copy of each issue is furnished, without extra charge, to all
regular subscribers of the Commercial and Financial Chronicle.
Additional copies of any issue are sold to subscribers at 50 cents each,
and to persons not subscribers at $1 each. No subscriptions are taken
for the Investors’ Supplement apart from the Chronicle
Annual

subscription price to the Chronicle, including the Investors’ Supple¬
is $10 20.
WILLIAM

B.

DANA

102

&

CO., Publishers,

William Street, New York.

RAILROAD MAPS IN THE SUPPLEMENT.
The railroad maps now published in the Supplement
include the

following roads.

Map.
Alabama Great Southern.
Atoliison Topeka & Santa

-

See Cincinnati N. O. & T. P

Fe

:

Atlantic & Pacific. See Atchison Topeka & Santa Fe
Baltimore & Ohio
Buffalo Rochester & Pittsburg
Canadian Pacific
California Southern. See Atchisou Topeka & Santa Fe
Central RR. & Bauking Co. of Georgia
Central RR. of New Jeisey
Central Pacific, See Southern Pacific
Charleston Cincinnati & Chicago

Page.
40
16 and 17
16
19
22
24
16

Chesapeake & Ohio. See Newport News & Mississippi Valley
Chesapeake Ohio & Southwestern. See Newport News & Miss. Val..
Chicago Milwaukee & St. Paul
Chicago & Northwestern
Chicago St. Paul Minn. & Omaha. See Chicago & Northwestern
Cincinnati Indianapolis St. Louis & Chicago
Cincinnati Jackson & Mackinaw
Cincinnati New Orleans & Texas Pacific
Cincinnati Washington & Balt. See Baltimore & Ohio
.

Colorado Midland
Delaware Lackawanna & Western
Denver & Rio Grande
Detroit Bay City & Alpena

26
27
106
29

78
73
32

34
34
37

39
40

19

49

Duluth South Shore & Atlantic

Dubuque & Sioux City. See Illinois Central
57
East Tennessee Virginia & Georgia
51
Elizabeth. Lexington & Big Sandy. See Newport News & Miss. Val.. 78
Fort Worth & Denver City
53
Galveston Harrisburg & San Antonio. See Southern Pacific
106
Grand Rapids & Indiana. See Pennsylvania RR
90
G ilf Colorado & Santa Fe
55
Houston & Texas Central. See Southern Pacific
106
Illinois Central
International & Great Northern.
Jacksonville Tampa & Key West

57
See Missouri Pacific

& Western
& N ishville
New Albany <fc Chicago
Now Orleans & Texas

Memphis & Charlestou.

Newport News <fc Miss. Valley

Norfolk & Western
Northern Pacific

51

71
73
73

75

& Nashville
V

See Union Paeittc

Philadelphia & Erie. See Penn RR
Pittsburg Cleveland & Toledo. See Baltimore & Ohio
Pittsburg Cincinnati & St. Louis. See Peim. RR
Pittsburg Ft. Wayne & Chicago. See Penn. RR
Pittsburg & Western
Richmond & West Point Terminal
Rome Watertown & Ogdensburg

See Norfolk & Western

8t. Louis & San Francisco
St. Louis Arkansas & Texas
Bt. Paul Minneapolis & Manitoba

Sheffield & Birmingham Coal Iron & Railway Company
Southern Pacific
Toledo Ann Arbor & North Mieli
Toledo St. Louis <& Kansas City
Texas & Pacific. See Missouri Pacific
Union Pacific
Vicksburg & Meridian. See Cinn. New Orleans <fe Texas Pacific
Western New- York & Pennsylvania
Wisconsin Central




65
78

81
-83
85

87
88

Pennsylvania

Bhenandoah Valley.

62
65

68

Ohio tte North western
Ohio River

Orange Belt
Oregon Short Line.

78

67

See East Tenn. Va. & Ga

Milwaukee & Northern....
Missouri Kansas & Texas. See Missouri Pacific
Missouri Pacific
Mobile & Ohio
Nashville Chattanooga & St. Louis. See Louisville

73

59

Kentucky Central. See Newport News & Miss. Valley

Lake Erie
Louisville
Louisville
Louisville

1887.

BONDS AT RELATIVELY LOW PRICES.

TERMS:

ment,

26,

112

90
90
19
90
90
93
95

97

81

101
99

102
104

and

The limits
7 per

we

have fixed

are

cent bonds; par, or 100,

110 in the

in the

case

case

of 6 and

of five per cent
cent bonds. At

bonds, and 90 in the case of 4^- and 4 per
110 a 6 per cent bond yields
(without regard to the loss of
premium at maturity) nearly 5£ per cent on the invest¬
ment, and a 7 per cent bond over 6^ per cent—in either
case a rate of return considerably above what can
be got
at the present time on first-class, not to speak of gilt-edged,
bonds.
Hence, when an issue sells at or below the price
taken, an inquiry into its standing and prospects is well worth
making by the investor, in order to determine what the
reasons are that account for the relatively low quotation, and
whether these reasons are sufficient to impair the value of
the security as an investment. As showing the price com¬
manded by some of the best of 6 per cents, we may men.
tion that tbe Chicago Rock Island & Pacific Gs of 1917
stand at 131 bid; the New York Lackawanna & Western
1st 6s of 1921 are quoted at 12G, and the Chicago St. Paul
Minneapolis & Omaha consol 6s of 1930 at 120. Among
cents, the Chicago & Northwest, consols of 1915
139; the Pittsburg Fort Wayne & Chicago lsts of

7 per

bring
1912

141^@143; the New York Central & Hudson lsts of 1903
135; the Morris & Essex lsts of 1914 at 139, and the Rens
110 selaer &
Saratoga lsts of 1921 at 140@ 141.
73
112
As to taking 100 for the limit on five per cents, any.
40
116
118 thing below that figure of course indicates a yield above
106
108

2

INVESTORS’

SUPPLEMENT.

[Vol. XLV.

As compared with the number of six and large mileage, and its char^gs seem to have been brought
seven per cents of prime
character and established merit, well within the limit of earnings. Before reorganization
five per cents of the same class are relatively f«-w.
The the charges stood at $2,221,800 per annum; in 1886-7
reason is obvious.
Time is an essential element in estab¬ they were only $1,349,775.
In the calendar year 1884
lishing merit, and it is only a few years since it h?s been net earnings (above expenses, biu not above taxes,)
possible to 1 orrow at that rate, so that most of the five per were $1,793 573, in 1885 they were $.2,183,781 and
cents have only a short record, which in many cases mili¬ in 1886 $2,510,660.
In the current year to September
there
been
a
30
lias
further
increase of $648,971.
tates against their attaining a very high premium.
Hence
More¬
the
pre.-ent net earnings would seem to amount to about
over, hardly had it been demonstrated that the railroads
double
the charges.
could negotiate loans at 5 per cent than the larger and
The Chesapeake & Ohio extended bonds are perhaps the
more
prominent companies found that they could borrow
on even better terms, and
hence many of the recent and lowest priced among interest-paying fours, and sell at
newer issues bear
only 4J and 4 per cent interest. Still, if about 66. The company was recently p .t in receiver’s
a
gaugn is wanted as to the price a five per cent bond may hands, but the coupons on these bonds were paid Novem¬
The bonds are simply the old Chesapeake & Ohio
attain with most all the conditions in its favor, one has ber 1.
only to look at the Chicago St. Louis & New Orleans class “B” bonds, with interest reduced from 6 to 4 per
(Illinois Central Southern line) fives of 1951, which are cent and the principal extended lOu years. As forming
selling at 116, or the 4th mortgage bonds of ihe Erie the eastern end of Mr. Huntington’s combination of roads
extended to 1920, which stand at about the same figure, between the Atlantic seaboard and the Mississippi Valley,
the position of the Chesapeake & Ohio is good; but the com¬
the Long IsLnd 5s of 1931 stand at 112@113.
With reference to the 4 per cent and 4£ per cent bonds, pany is hampered in having to make large annual payments
issues at those rates are confined to companies of .excellent on account of principal and interest of car trusts, and by its
credit or else to reorganized companies that have had to floating debt.
With these sources of embarrassment re
reduce interest after reorganization.
Ninety seems a fair moved, doubtless the property, would do much better.
There are some other prominent 4 per cents which must
limit to take on these, for a four per cent bond at that
figure will yield 4-44 per cent, while allowance for the be judged by the same criterion, except in those cases
•discount to be made up at maturity of course greatly where a guarantee of another company constitutes the
increases the yield.
Moreover, there are one or two gilt- main element of strength.^ Thus there are the Mexi¬
edged fours that sell some twenty points above our arbi. can Central bonds, the Atlantic & Pacitics, the Ken.
trary figure. Thus the New York New Haven & Hart* tuoky Centrals and the Beech Creek firsts.
ford 4s of 1903 command’ about 110 and the Illinois Cen¬
Among five per cent bonds selling below par there is quite
a
tral 4s of 1951 108@109.
variety to choose from, though some of them are bonds
of
new companies which have not yet had time to establish
Having made these explanations as to our purpose in
preparing a list of what, in the sense taken, we class as their position. There are the fives of the East Tennessee
low-priced bonds, it may be well to make some brief Company, the funded coupon bonds of the Erie and the
remarks concerning one or two special issues about which second mortgage bonds of the Canada Southern.
The
two
attract
attention
because
of
the
latter
the public is not yet fully informed.
improved position
There are the 4s of
of
ti
unk
line
the reorganized New York Chicago. & St. Louis, just
properties. The condition of the East
Tennessee
can be
ascertained from the report for the
listed on our Exchange.
We published the company’s
application in full in the Chronicle of last Saturday, and fiscal year ended June 30, published in the Chronicle of
in this a number of interesting facts bearing on the last Saturday.
When we come to the six per cents below 110 the
character of the bonds and the position of the company
are brought together.
The total issue is $20,000,000, and variety is even greater. We have not the space to
these constitute the first and only lien on the property. enumerate any great number of them, but some of the
Hence the annual charge is $800,000.
The new company Louisville & Nashvil.’e bonds perhaps will attract atten.
did not come into possession of the property till the 1st of tion—the collateral trusts and ten-forties for instance,
October, 1887; but for the twelve months preceding, gross which in addition to mortgages on the property are secured
earnings were $4,569,591 and net over taxes and rentals, by the distinct pledge of specified stccks and bonds in
$1,035,236. The net have been made up after deducting which the Louisville & Nashville is interested. Among
the securities pledged for the collateral trusts is a majority
some considerable expenditures for betterments, but even
of the stock of the Nashville Chattanooga & St. Louis—a
on that basis there is
an excess of over $200,000 above
the require nents for interest on the new bonds.
Consid¬ road which is doing remarkably well just at the moment.
ering this fact, and also that the bonds are a first mort Usually, however, it is very difficult to estimate the value
of such collateral.
The prior bonds of the Texas & Pacific
gage on a trunk line between Buffalo and Chicago, iheir
position would seem a strong one. It is undeniable, how¬ (namely the 1st mortgage on the Eastern Division) may also
The company is about to be reorganized
ever, that the position of the old bonds at the time of deserve notice.
their issue appeared equally strong.
Still there are some on a basis which it is supposed will make certain the pay*
important differences.
Then the road was in an unfin. ment of interest on 25 millions of what are called
The old Galveston Harrisburg & San
ished condition, and large annual payments were required class “ A” bonds.
for equipment and car trusts.
Now these latter no longer Antonio lsts and 2ds, occupying a somewhat analogous
exist, and the property has been greatly improved. The position, also come within our limit.
Below will be found the list, complete so far as recent
floating debt also has been extinguished, and the company
remains under the control of Lake Shore, which holds a prices could be obtained, and it will be noticed that the
line has not been strictly drawn, ' some bonds being
majority of the stock.
The Denver & Rio Grande is another company lately included whose prices are a trifle above the limit fixed.
reorganized which has 4 per cent bond* out. Here, how¬ There is nothing particularly abstruse or complicated about
ever, the bonds are not a positive first mortgage (there this grouping of -bonds, but on the contrary it is a mere
being $6,382,500 of underlying bonds) and the selling bringing together of the relatively low-priced bonds for
price is about 79. But the Donver & Rio Grande has a the observation of investors.

five per cent.




November,

INVESTORS’

1887.]

6 AND 7

Interest IPri’eN’v.21
Period. i Bid. Ask.

AT OR BELOW 110.

PER CENT BONDS

Note.—Bonds are all 6s, except

those marked Is.
Pri’e N’v.21

Interest
Period. |

Description of Bond.

Bid. Ask.
106

1024. A. A O
A. AO.!
110
Cedar Rapids Iowa Falls A N., 1st, g
1920 A.
A O.i
Central Pacific, mortgage of 1886, g
1936 A. A 0.1-...,. 103
98
1908 A. A O.
Chesapeake & Ohio, series “A,” g
Mortgage, g
1911 F. A A.! 103% 90
1911 A. A O.i 105
Chesapeake Ohio A Sothwest, 1st, g
Chicago & Alton—Missouri River Bridge, 1st. 1912 J. A J.! 105
Cleveland Columbus Cin. A Ind., gen., g
1934 F. A A.; 99 100
Colorado Coal & Iron, 1st, cons., g
1900 J.
104
A J
1916L J. A
Columbia & Greenville, 1st, g
75
D.
Brooklyn Elevated, 1st, g ...
Burlington Cedar Rapids A Northern-

South Park A Pacific., 1st, 7s, g.

.1913.
1902
.1926
\1923.
1921
.1910.
.1905.
.1911.
.1923
.1931
.1900.
1906
.1919.

J. A J. 1108
M. A S.
[

Denver

.

Evansville A Indianapolis, cons. 1st.,
Evansville A Terre Haute—Mt. Vernoi

Henderson Bridge, 1st, g.
Indiana Bloomington A West.,

Indianapolis Decatur A

1st pref. (7s;
Spring., 1st (7s), g..

Louisville A Nashville—C'ec.
New Orleans

A Mobile, 2d

Pensacola Division, g
So. A No. Ala., sinking

fund

Collateral trust bonds, g
Pensacola A Atlantic, 1st, g

Metropolitan Elevated, 2d...
Milwaukee A

North.—Extension, 1st

Minneapolis A St. Louis—Iowa Ex.,
2d mortgage (7s)

1st ('

no
97

;J. A J. 103%

.

A
A
A
A
F. A

A.
J.
F.
J.

A. A

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

A
A
A
A
A
A
A
A

O.
D. !
A.
D.
A.
O.
S.
J.
O.
N.
8.
J.
S.
J.
J.
S.
0.

101

83

83%
no
110

99 *2 104%
96% 97
108% 109
no
101

108
79
91
105
110
96
103
105

Missouri Kansas A Texas, c
General, g
Missouri Pacific, 1st, cons., g

.1925.
.1907.
.1930.
98
A
.1930:
A
1920.
1910. A. A
.1922. Q.-M. 108% 109
92
1921. F A A
.1916. A. A O. 91% 92
87
1909. M. A S.
103%
1924 J. A J. 102
107%
1899 M. A N.
1913 J. A D. 106%107
109
1909. i J. A D.
100
1890 !J. A J.
85%
1922 iJ. A J.
108%
904-6. F A A. 108
J. A D. 81
32%
110%
1920. M. A N. 108
107
1927
Q.-J.
1920 J. A J. 106%
1911 M. A N.i 84% 85
107%
1901 J. A J. 106
105
1926. M. A N.l 99
107
1908. M. A N.j 102
1969. J. A D. 101
104%
1922. M. AN 103
1908 J. A JJ 90
A J.!
110
1897. J.
M. A S.! 108
......

......

1920.j

......

Mutual Union Telegraph,
Nashville Chattanooga A
New York Lake E.
2d consols, g

1st, g

sinking fund, g...
St. Louis, 2d

A W., reorg., 1st lien, g..

Collateral trust, g
Buffalo A Southwestern, g
New York A Manhattan Beach, 1st (7s)
New York Ontario A Western, 1st., g
Norfolk A Western, imp. and extern, g

1914
1934. |F. A M.
A.

Dividend scrip, extended
James River Valley, 1st, g..

Spokane A Palouse, 1st, g
Helena A Red Mount., 1st, g
Duluth A Manitoba, 1st, g
Helena B. Val. A Butte, 1st, g
Northern Pacific Terminal, 1st, g
Ohio Southern, 1st, g

Oregon Improvement, 1st, g
Oregon Railway A Navigation, 1st, g
Oregon A Trans continental, g
Peoria Deo. A Evansv.—Evansv. Div., 1st
Peoria A Pekin Union, 1st, g

Pittsburg Cleveland A Toledo, 1st, g
Richmond A West Point Terminal, trust, g
San Antonio A Aransas Pass, 1st, g
1st, g
:
St. Joseph A Grand Island, 1st, g
St. Louis Alton A Terre Haute, 2d

2d, incomes (7s)




pref.

96

|101% 104
1924
j Q.
1933.'A. A O. 98 % 99
1907. j J. A J. 1101
1936. ;J. A J.j
110

Adjustment (7s>, g

tirade g
Northern Pacific, 2d mortgage,

1936. M. A N.l
1937. M. A 8. 103
1936 J. A J.j.103%
1937. M. A N.’101%
1933 J. A J.,102
1921. J. A D. 105
1910. J. A I).| 96%
1909. J. A J.jllO%
1922. M. A N. 93%
1920. iM. A 8.1
1921.1 Q.—F. j 110
1922. A. A O.jl0719
86
1897. F. A A.
1916. J A J.l

...

Birmingham Div., 1st. cons., g
Texas A New Orleans—Sab. Div., g
Texas A Pacific, 1st, E. D., g
Toledo Ann Arbor A North Mich., 1st, g
Toledo Ann Arbor A Grand Trunk, 1st,
Toledo St. Louis A Kan. City, 1st, gold
Union Pacific, collateral trust
Kansas Pacific, 1st, consol., g
Central Branch U P. (7s), g
Atchison Col. A Pae., 1st
Atchison Jewel Co. A W., 1st

M.
F.
1897. M.
1895 J.
1916 J.
1910. A.
1916. M.
1898. M.
1920. A.
1931. J.
1911. J.
1st. 1902. F.
1917. J.
1912.! M.
1905. M.
1924. M.
g...l921. J.
1916. J.
1908. J.
M.
M.

1936.
1S92

1919.!

1895.]

1905.
1905

1922
1909.

Oregon Short Line, 1st, g
Utah Sotliern, gen. (7s) ..
Utah Southern, extern, 1st (7s)

1909.

1921

Valley of Ohio, consolidated
Wabash Western—St. Charles Bridge, 1st
5 PER CENT BONDS

1908

A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A

N.
A.
N.
D.
J.
O.
S.
N.
O.
J.
J.
A.
J.
S.
S.
N.
J.
I).
J.
N.
A N.

97%

106
108

98
.....

A. A

70

108
100

80
100
107
89
100

85

90
102

94%
106

100%
104%
104
100
99

q-*;F. A A.
A
J. A
M. A

no

97%
60

Q.-F.
J.

98

109
109
109

J.|

102%
100%

93

J.! 91
S.j
O.1 100

......

94

104%

AT OR BELOW 100.

iPfi’cN’v.21
Interest

Descku'tion of Bond.

Period.
1913. M. A
..1934 A. A
Cedar Rapids Iowa Falls A Northern, g.. ..1921. A. A
M. A
Canada Southern, 2d
.1937 M. A
Central RR. A Bank of Georgia, collat., g ..
.1936 J. A
Chicago A Indiana Coal, 1st
1910 J. A
Chicago Milwaukee A St. Paul, II. AD
..1926 J. A
Chicago A Missouri River Div
A. A
Chicago St. Louis A Pittsburg, 1st, cons., g....1932.
f 1936 J. A
..1931 M. A
Columbus Hocking Valley A Tol., cons., g.
East Tennessee Virginia A Ga., 1st, cons., g.. .1956. M. A
'.1931 M. A
.1924 M. A
Grand Rapids A Indiana, gen
.1937 M. A
Louisville A Nashville, inort., br., g
'.1907. F. A
.1934 J. A
Minnesota A Northwestern, 1st, g
.1920 J. A
Missouri Kansas A Texas, gen., g
.1969. J. A
if. 1937 J. A
.1932 J. A
Ohio A Mississippi, gen. mort
1925. J. A
Oregon Railway A Navigation, consol., g...
.1927. M. A
Peoria Decatur A Evansville, 2d mort., g..
.1931 A. A
8t. Louis A Iron Mountain, gen., g
.1935. J. A
'Toledo A Ohio Central, 1st, g
.1907. J. A
Union Pacific, col. trust, g
.1936 M. A
Virginia Midland, gen. mort
.1926. A. A

Boston Hoosae Tunnel

A Western, deb.

Wheeling A Lake Erie, 1st, g
4 AND 4*2

Bid.

S.
O.
O.
8.

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

98
97%
97%
92
99

92^8

98%

99

96
99
98
95

8.

N.
N.
8.
N.
A.
J.
D.
I>.
J.
D.
D.
N.
0.
J.
D.
N.
O.

Ask.

74

96-%

96%
93%
100

99% 101
94

70%

98
100

72

89%
92

87%
98%

99%

72

74

91%
94%

92%

95
79

95%
81

97%

PER CENT BONDS AT OR BELOW 90.

Note.— Bonds are all

4s, except where marked 4%£.

104%
102%
107

110%
94
106

88%
92

02
98%
(7s)..1894. F. A A.
109%
1894. M. A N.l 102 103
1926. J. A J.
1925. M. A N. 98

St. Louis Arkansas A Texas, 1st, g
St. Louis A Iron Mountain, 1st (7s)
2d (7s), g
St. Louis A San Francisco, equip. (7s), g
Kansas City A Southwest, 1st, g
Fort Smith A Van Buren Bridge, 1st, g
St. Louis Kan. A Southw., 1st, g
St. Louis Vandalia A Terre Haute, 2d (7s)
South Carolina, 1st
2d
Southern Pacific of New Mexico, 1st, g
Tennessee Coal A Iron—Southern PitUb.,

103
no
80
92
106

......

Morgan’s Louisiana A Texas,

3

SUPPLEMENT.

Pri’e N’v. 21
Interest
Period. Bid. Ask.

Atlantic A Pacific, 1st, g
Beech Creek, 1st, g

1937.
1936.

.

1986

Chesapeake A Ohio, extended, g

1936

Denver A Rio Grande, 1st, cons., g

Kentucky Central, new mort., g
Mexican Central, mort. assented, g
Mobile A Ohio—St. Louis A Cairo, quar., g
New York

Chicago A 8t. Louis, lst,.g

New York Susquehanna A
Omaha A St. Louis, lst,g

Peoria A Pekin Union,

..

J.
J.
M.
J.
J.

A
A
A
A
A

J.
J.
N.
J.
J.

80
65

78%

83%
67
79

87%

a j.
1987 ;j.
J.

72
70

74
71
74

1937.

86%

86%

1911
1931

A J.
J. A J.
A. A 0.

West., 2d (4%s), g..l937. iF. A A.

2d (4%s), g

82%

1937. ;J.
1921. M.

79

A J.

77%

78%

A N.

70

75

STOCK AND

BOND TABLES.
NOTES.

expressly intended to be used in connection with the information concerning investment matters published from week to
week in the Chronicles—to which an index is furnished in the remarks on each page. Annual reports are in black-faced
figures.
These tables

The

are

following will give explanations of eaoh of the columns of the tables below:

Description.— Railroads leased are sometimes given under the lessee’s Dame. Abbreviations used are: M. for “mortgage;” s. f. for “sinking fund ”
1. gr. for “land grant;” r. for “registered;” e. for “coupon;” c.* for “coupon but may be registered;” c. A r. for7, coupon and
registered;” br
for “branch;” guar, for “guaranteed;” en i. for “endorsed.”
Date of Bonds.—The date of issue is referred to in this column.
Miles of Road — Opposite stocks, this means the miles of road operated; opposite bonds, the miles covered by the
mortgage.
Size or Par Value.—'These figures are dollars, showing the denominations or par value. The figures “100, Ac.,”
signify $100 and larger.
Rate Per Cent. The interest per annum is given for bonds, but the per cent of last dividend for stocks; g means gold; x. extra; s. stock or
scrip.
-

When "

T

T

T—

**

c-

p- *

171“ *

“

°

“

1

‘'—”

~

-

~~

“

-

-

-

Bonds

when the last dividend

was

paid

on stocks.

UNITED

STATES

4781881
Author¬

DESCRIPTION.

izing

4s of 1907, coup, and reg., incl. refund,
4^8 of 1891, coupon and registered
3 per cents, Navy Pension fund
Currency 6s, reg., $2,362,000 due Jan.,

certfs.
1895

.

Act.

Size

or

par
value.

BONDS.
I NTEREST.

Amount

outstanding.
Nov. 1,

When

Rate.

*87.

Where payable
whom.

pay’ble

1870 & ’71
1870 & ’71

$50Ac. $732,447,550 4, coin.
50Ac. 230,544,600 4*2, coin.
50&c.
July 1868
14,000,000 3, coin.
6
J’y’62A’64 lOOO&c.
64,623,512

U. S.

[

due.

Treasury & Sub Treas.
do
do
U. S.

1

Principal—When

and by

July 1,1907
Sept. 1, 1891

do
do

Treasury.

1895-6-7-8-9

All the Government bonds except the currency sixes are redeemable ! in “lawful money,” and mature as follows: $3,002,000 in 1895
in coin, the sort of coin not being specified. The fours and four and a $8,000,000 in 1896, $9,712,000 in 1897, $29,904,952 in 1898
and
halfs are issued in bonds of $50, $100, $500 and $1,000, both coupon I $14,004,560 in 1899. The interest on registered bonds is mailed
by
and registered issues, and the registered bonds also in pieces of $5,000, check directly to the holders or to any address
requested by the regia$10,000, $20,000 and $50,000. The United States currency sixes are all teied holders.

registered, issued in pieces of $1,000, $5,000 and $10,000,

are

payable

STATE

Subscribers will confer

a

SECURITIES.

great favor by giving immediate notice ot any error discovered in these Tables.

DESCRIPTION.

Date of
Bonds.

Size or
par
Value.

Alabama—Substitution bonds (A) ($7,000,000).
Substitute b’ds for RR. (B) ($596,000)

1876
$100Ac.
1876
100 Ac.
do
for Ala. A Cliatt. (C) ($1,000,000)
1876
100 Ac.
1880
Funding “obligates” (tax-rec’ble 10-20 yrs.).
Arkansas—Funding bonds of 1869 and 1870.. 1869 to ’70
1,000
1870
Funding Bonds 1870 (Holford)
1,000
Levee bonds (or warrants)
1871
100 Ac.
Old debt, including interest to 1884
1838 to’39
1,000
To Memphis A Little Rock Railroad
1869
1,000
To Little Rock & Fort Smith Railroad
1870
1,000
To Little Rock, Pine Bluffs & N. Orleans RR..
1870
1,000
To Miss., Ouachita & Red River Railroad
1870
1,000
1870
To Arkansas Central Railroad
1,000
1873
500 Ac.
California— Pended debt bonds of 1873
Connecticut— Bonds. 10-20 year
1877
? Coup.
i,ooo
New bonds (sink, fd.) not taxable— > or reg.
1883
1,000
1884
New bonds, reg.
do
do
1,000
NewT bonds, coup, or reg
1885
1,000
Bonds registered (redeem at will)
1887
1,000
Delaware— Refund’g bds., ser. “A,” “ B” A “C”
1881
1,000
1885
Bonds, redeemable after June 1, 1895
School bonds
1872
500 Ac.
Dist.of Columbia— Perm’t imp’t, gold, coup
Permanent improvement bonds, coupon
1873
100 Ac.
Bds for fund’g (Act June 10, ’79) coup, or reg.
1879
100 Ac.
Fund, b’ds (U.S.guar.,Acts June,’74A Feb.,’75)
1874
50 Ac.
Market stock, registered and coupon
187?.
50 Ac.
Water stock bonds, coupon
1871 to ’73
1,000
Wash, fund’g, gld,($618,100 are M.AN.,1902).
1872
100 Ac.
Florida—State bonds
1871
100
Gold bonds
1873
100 Ac.
1870
Georgia— Quar. g. bds., act of Sept. 15, 1870...
1,000
1872
500 Ac.
Bonds, act of Jan. 18, ’72
Bonds to fund coupons on endorsed bonds...
1876
1,000
Bonds exchanged for endorsed RR. bonds—
1877
1,000
1885
Funding bonds, coup. Act Dec. 23, ’84
1,000
State University Bonds
1882
&
’83
,r
1885
Indiana—Temporary loan
School fund bonds (non-negotiable)
1867 to ’73
Kansas—B’ds for State purp. £ $574,500
held C 1864 to ’75 100 Ac.
> in State fds— \ 1866 to ’69
Military loan
1884
Kenhicky— Bonds, gold
1,000
1866
1,000
Military bonds
....

....

....

....

....

....

1.255,000

1,268,000

1,986,773
2,575,063
1,200,000
1,000,000
1,200,000
600,000

2,698,000
1,030.000
500,000
1,000,000

3

625,000

4

1,600,800
280,100
787,300
2,098,000
307,500
542,000

2,141,000
3,392,000
254,000
2,025,000

3,904,783
824,500
206,000

1873, leaving-only $334,000 in private hands.

Assessed valuations and rate of tax per $1,000 have been :
Years.
Real Estate.
Personal.
Tax Rate.
1884
$654,990,072
$166,614,631
$4*52
1885
688,311,102
171,201,282
5‘44
1886
664,50',568
151,937,132
5-60

789,980,601

165,475,238
6*03
Connecticut.—The debt of Connecticut was all created originally for
war purposes.
Assessed valuation and tax rate per $1,000 have been :
Tax Rate.

$1-25

2-00
1836
1-25
The assessed valuation of real estate is about 70 per cent of the true value.
—(Vol. 44, p. 808.)
Delaware.—These |refundiug bonds issued July, 1881, take up out¬

standing debt.




Series “A”

are

4
6
6 g.
7
5
3-65
7
7
6 g.
7
6 g.
7 g.
7
7
6

616,200
943,400
14,033,600
.145,050
375,000

ue

$349,977,339
349,177,597
349,725,773

3ia

120,000
156,750
3,166,900

real estate and personalty was $152,920,115 in 1881-82, $158,518;157
inl8S3-84 and $172,528,933 in 1885-86; tax rate $6 per $1,000.
Arkansas.— The State Supreme Court decided Levee bonds of 1869
and 1870 invalid ; nor are the Ilolfordor the Railroad Aid bonds
recog¬
nized by the State. The State is in default for interest.
In Jan., 1883,
a decision was made by the U. S. Circuit Court, substantially holding
the railroad companies responsible fOr the State bonds issued to them,
but this was reversed and the case appealed to U. S. Supreme Court.
The following are ottieial assessments and tax rate per $1,000:
Real Estate.
Personal;
Tax Rate.
1834
$31,649,415
$50,403,842
$7
1885
' 82,273,095
*
52,133,530
4
1836 (one county missing)..
53,775,852
85,531,485
5
—(V. 44. p. 421.)
California.—The State holds in trust for School and University funds

Real Est. & Personal.

3^
3^

1,740,000
1,000,000

in 1900,
franted
to that
railroad,
500,000
1,200,000
The 10-10’s
of 1880,
may
bo called
at partoafter
1890. acres.
The assessed
valuation
of

Years.
1884.
1835

6
7
7
7
7
7
6 g.
5

1,350,000

Alabama.—The “A” bonds bear 5 per cent after 1896. Alabama
& Chattanooga endorsed bonds were exchanged for $1,000,000 of
the new bonds, Class C. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “State obligations.”
Analysis of the
debt and funding of 18 76 was given in the Chronicle, V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. A Cliatt.
RR. under act of Feb. 11, 1870, the State gave the lien on the lands

$2,364,000 bonds of

4
5
4
6
6
6
7

539,000
953,000
954,000

$160,000, redeemable 1886; series “B,”

4i«
7
3 A 3ia
6
7
7

500,000

4

174,000

6

Principal—When

When

Rate.

$6,747,900

....

....

INTEREST.

Amount

Outstanding

Where

J.
J.
J.
J.
J.

A
A
A
A

J.
J.
J.
J.
A J.
*.

A
A
A
A
A
A
A
A
A
A
A
A
A
A
A

J.
J.
A
A.
A.
A.
4.

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

Due.

Whom.

Payable
-

Payable and by

N. Y., Am. Exch. Nat.Bk.
do
do
do •
do

July 1,1906
July 1,1906
July 1,1906
Jan. 1, 1900

Montgomery.

1899
1900
1900
1860
1899
1900
1900
1900

■

J.
J.
O.

0
O.
O.
O.
J.
N.
J.
J.
0.
N.
J.
D.

April, 1900

Sacramento, Treasury.

1893-94

Hartford, Treasury.

do
do
do
do
do
do
do
do
Pliila., Plilla. Nat. Bank.
do
do

Mayl, 1897
Jan., 1903
Jan. 1,1903
Oot. 1,1910
'

.

May 1,1897
1891, 1901
June 1,1905

Jan. 1, 1901
J. A J. Wash, or N. Y., U. S. Treas.
July 1, 1891
J. A J.
do
do
July 1, 1891
J. A J.
do
do
July 1, 1899
F. A A.
do
do
Aug. 1, 1924
J. A J.
do
do
July 26,1892
J. A J.
do
do
Oct. 1,1901 & ’03
J. A J.
do
do
1892 A 1902
Jan.
N. Y.,Park Bk. A Tallahassee
Jan. 1, 1901
J. A J.
do
do r
Jan. 1,1903
Oct. 1, 1890
Q..-J. N. Y., Fourth National Bk.
J. A J.
do
do
May 1,1892
J. A J.
do
do
July 1, 1896
J. A J.
do
do
Jan. 1, 1889
J. A J.
New York A Atlanta.
July 1, 1915
Various
do
do
1932-33-34-35.
N. Y., Winslow, L. A Co.
April 1, ’92 4’95
Various
do
do
J. A J.
N. Y., First Nat. Bank.
1887 to ’95
J. A J.
do
do
1887 to ’99
J. A D.
New York City.
1905
J. A J.
1896
Frankfort, Ky.
„

.

.

.

'

$300,000, redeemable July, 1886 to 1891; series “C.” $165,000. redeem¬
able July, 1891 to 1901. In addition to above, $33,000 is due Delaware
College. There is no State tax levied, nor assessments made.
District ot Columbia.—The interest and sinking fund on the 3-65
bonds are provided for by Congress, and the amount is limited to
$15,000,000. Real and personal estate, Ac.. assessed as follows: 1884,
real estate, $90,496,331; personal, $L0,937,413; tax rate, $L5 per$L,000,
1885, real estate, $93,491,891; personal, $12,715,686; tax rate, $15;
1886, real estate, $96,054,301; personal, $L2,532,997; tax rate, $15.
Florida.—The sinking funds hold $218,800 of above bonds, and the
school, Ac., funds held $625,500 more, leaving outstanding $430,700.
Coupons of all bonds are receivable for taxes. Real and personal property
assessed in 1883, $55,008,560, tax rate $4 per $1,000; in 1884, $60,042655; tax rate $4. Assessment in 1886, $76,611,409; tax rate, $1. - ‘
Georgia.—The constitutional amendment in 1877 declared void

issues of bonds and railroad endorsements.
of 1885 were sold to take up other bonds maturing
Tax rate, 3^2 mills. Assessed valuations have been:
Years.
Real Estate.
Personalty.

several

$174,452,761
179.946,059

1886 (tot.valuat’ns)

■

$120,432,609

The -fie p.e.

bonds,

in 1-)85 and L886.
Railroads.

$22,183,901

119,200,739

23,000,294

—-$329,189,505

—*

Indiana.—There are also outstanding $340,000 5 per cent bonds
due 1901, held by Purdue University; $60,000 State University bonds
held by Treasurer, and about $18,000 miscellaneous issues of bonds.
Valuation in 1885, $793,526,079,
Valuation in 1886, $794,696,597.
Total debt Oct. 3L, 1886, was $6,006,608.

Kansas.-Kansas has but

bonds

was

about

614; in 1837, 1,500,000.
have been:
Years.
1885.
1S86

a

smallStatsdebt, but the Issue of

$19,397,851 Jan. 1, 1887.

municipal

Populatiou in 1834,

The valuations (about oue-half of true
Real A Personai

Property.

$247,371,645

Rate of Tax
per $1,000.

1,135,value)
Total

Debt.
$-;•••
830,oOG

$.
277,113,323
4 10
,310,596.636
Kentucky.—Against the bonds as above the sinking fund held
$711,150, Sept., ’87. Valuation in 1884, $377,888,542; inl8$5. personal,
$96,838,919; real estate, $293,939,044; total valuation, $390,827,963,

Subscribers will confer a

0

SEC U KITIES.

STATE

November, 1887.1

Immediate notice of any error discovered in

great flavor by giving

these Tables.

INTEREST.
Size

Date of
Bonds.

DESCRIPTION.

Louisiana—Relief of State Treasury and miscel.
Bonds in aid of various railroads
Bonds to Boeuf & Crocodile Navigation Co...
do
to Mississippi A Mexican Gulf Canal..
do
school, held by 8t. Treasurer
do
to N. Orleans, Mobile A Chatt. RR
do
to N. Orleans, Mobile & Texas RR
N. O. Mob. & Texas RR. bonds, end. by State
Consolidated funded bonds(stamped 4 per ct.)
“Baby” bonds, threes
) Coup.
Jfawe—Bounty loan bonds
Municipal war debt assumed
S or reg.
Maryland—Baltimore A Ohio Railroad, sterling
Chesapeake & Ohio Canal, sterling

Amount

outstanding.

$40,100
175,000

$500

1853

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

1870
1869
1857
1870
1871
1869
1874
1880
1864
1*68
1838
1838

80,000
260,000

48,000
70,000
2,500,000

462831 88811
Railroads and canals
Eastern Shore Railroad
Baltimore & Susquehanna
Baltimore A Susquehanna

Railroad
Railroad
Annapolis A Elkridge Railroad

Defense redemption loan
Deaf and Dumb Asylum Loan

Treasury relief loan, 10-15 years

Exchange loan of 1886

Massachusetts— BountyFund Loan
do
do sterling
War Loan, sterling

Troy A Greenfield Railroad loan,

sterling.....

home ..
do
do
sterling,
sterling,
do
do
dollar bonds
do
do
do
do
do
Southern Vermont Railroad Loan
Boston, Hartford A Erie Railroad, sterling.
Harbor Land Improvement (5-20s)...
Danvers Lunatic Hospital
do

do
do
do
do

.

Lunatic Hospital, Worcester
New State Prisons, sterling

Michigan—War Bounty Bonus
Minnesota—Adjustment bonds, (10-30, red. ’92)
Missouri—Consolidated bonds
University and Lunatic Asylum bonds
Penitentiary indemnity
i
State Bank stock refunding
Bonds to North Missouri Railroad
Bonds to Cairo & Fulton Railroad
Bonds to Platte County Railroad
Bonds to Iron Mountain Railroad
Pacific Railroad of Missouri

Funding bonds

5-20 years
Hannibal & St. Joseph Railroad,
do

renewal
Bebraska— Bonds (act Feb. 14,1877) coupon...
New Hampshire—War loan, coupon bonds
Municipal war loan
Loan of 1879 for refunding

Prison loan
New Jersey—War loan bonds,
taxable
do
do

tax free

New York—
(
Canal debt, {
reg.

Under Art. 7, Sec 3, of Constock, Institution.

Niagara Park Loan bonds

*u

1886, personal,

1,000

875,000

1,000

100 Ac.

500*

Ac
100 Ac.

1838-47
1839

1837
1839
1839
1882
1870 A ’74
1878
1886
1864
500 Ac
1864
£100 Ac
£200
1869
1858 to ’61 £200 Ac
1861 to’63 500 Ac.
1871
200 Ac.
£500
1875
1873 to ’74
1,000
1875
1,000
1877
10,000
1860
5,000
£200
1868 to’69
1874 A ’76
1,000
1874 A ’77
1,000
1875-’76
1,000
1875
£500
1865
1,000
1881
1,000
1868
1,000
1872
1,000
1874
1854 to ’58
1857 to ’59
1859 to ’60
1854 to’59
1853 to ’59
1874
18861874
1877
1864
1872
1879
1879
1863
1864
1875
1873
1874
1885

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

11,966,450
1,437,000
2,330,000
2,827,000
1,784,444
2,263,333
309,485
31,069

3,000,000
125,000

500,000

1,845,589
4.379.500
4,022,649
1,005,419
5,537,104
1.366.500

3,618,242
1,506,182
300,000

1,300,000

370,000
200,000
3,618,729
300,000
1,500,000
1,100,000
1,299,355
231,000
3,965,000
2,483,000
185,000
24,000
80,000
863,000
246,000
428,000

1,190,000
1,474,000
617.000

2,278,000
659,000

1,000

449,267
150,000

100 &c.

2,206,100

1,000
1,000

400,000
56,000
802,900

1.000

100
100
100
100
100

<fec.
<fec.
Ac.
Ac.
Ac.

1,000

593,400

473,000
4.269,950
1,998,000
800,000

$351,519,622.

Louisiana.—The Constitutional amendment passed Dec., 1879*
for a new bond in place of consols of 1874. bearing 2 per cent
provided
for 5 years, 3 per cent for 15 years and 4 per cent afterwards. In
June, 1882, a constitutional amendment passed the Legislature and

confirmed at the election iu April, 1884, giving new bonds at 4 per
cent after Jan. 1, 1335, and doing away with the provision of 3 per cent
was

the

lor fifteen years. There is considerable overdue interest of
years
1874 to 1880, inclusive. The constitution of 1879
the power
taxation to 6 mills on the valuation, of which only 3 mills may be ap¬

limits

of

propriated for interest on the debt; in 1834 1 ^ mills sufficed to pay 2
per cent, but for 1885 a rate of 27e was made on a total taxable valuation
of $212,725,566.
A suit by the State of New Hampshire against
Louisiana as assignee of her bonds, was decided iu favor of Louisiana by
the U. S. 8upreme Court.
Maine.—The debt January 1, 1887, was $5,157,000. The sinking
fond $2,110,390.
Tax rate for 1880, $5*0 > per $1,009 of valuation
of 1870; 1881-82, $4-50; 1883-84, $ POO; 1835-6, $3-75 ou valuation
of 1881.

Maryland.—The State has largely assisted canals and

railroads, and

holds $5,302,286 of stocks and bonds ranked as productive;
also holds $23,126,034 iu unproductive securities,

the State
which includes

The State ex¬
$25,371,966 on account of Chesapeake A Ohio Canal.
changes the “Defense Loan” at par for new certificates of indebtedness,
bearing interest at 3-65 per ceut, redeemable iu 15 years. Assessed val¬
uation, Ac., have been:
Years.
1883

'

Real A Personal. Tax per $1,000.

$166,089,380

469,593,225
473,452,144
476,829,611

1884

1835
1886.

-(V. 43, p.

$L’87^
1-87^

1-8 7*2

217.)

Massachusetts.—The funded debt, Jan. 1,

1387, was $31,429,680;

sinking funds were $18,964,4 L2. The Hoosac tunnel and connections
cost the State heavily.
The loan to Boston Hartford A Erie Railroad
was secured by “Berdell” mortgage bonds, afterwards exchange! for
N. Y. A N. E. RR. second mortgage bonds, and these bonds were sold
in 1885 at 90.
Assessed valuation, tax-rate, Ac., have been :
Real
Personal
Total
Sinking
Estate.
Years.
Funds.
Property.
Debt.
J. $1,189,524,370 $312,858,614 $32,511,680 $16,944,263
1833
1,226,111,297 835,601,175
31,423,680 16,836,672
the

...

.....

1884

1,258,452,712

829,339,811

payable and by
whom.

Payable

6

'

I

lg-

5
3
6
6
3 •65
6
6
3
5 g5 g5 g5 g5 g5 g.
5 g5 g5 g5 g5 g5 g5 g5 g5 g5 g7

4ifl
6
6
6
6
6
6
6
6
6
6

3*2
6
8
6
6
5
5
6
6
6 g
6 g
6 g

2^

Balt., Farm. A Merch. Bk.

Q.—J.

A. A O.

Quart’y
Q.-J.
A. A O.
A J.
J. A J.
J. A J
J. A J
M. A N.
M. AN.
J. A J
A. A O
Various
J. A J.
J. A J.
J. A J
J. A J
M. A 8.
A. A O.
J. A J.
J. A J.

j.

Prin cipal—When
due.

do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do

Jan., 1914
1887 and 1914
June 1,1889
Oct. 1, 1889
Jau. 1, 1889
Jan. 1, 1889
1890

April 1, 1890
April 1, 1890
Jan. 1, 1899

Jan.I,1889
Jan. 1, 1893
1920

do
do

Boston, Treasury.

London, Baring Bros,
do
do
Boston, Treasury
do
do

May 1, 1894
May 1, 1894

July 1, 1889

Apl., 1888 to ’90
April, 1891 to ’94
July, 1891
Jan. 1, 1895
1894

July 1, 1895
Sept. 1, 1897
April 1,1890

do
do

do
do

July 1, 1910
April, 1911

1890
Jan. 1,1890

Boston, Treasury.
London, Baring Bros,
do
do

July, 1893
1872 to 1906
Jan. 1, 1890
1899
1897

Jan. 1,1900
London, Baring Bros.
Sept. 1, 1896
Boston, Treasury.
J’yl,’94-Sep 1,’97
Boston, Treasury,
M’yl’95-Sepl,’96
do
do
Jan. 1, 1895
London, Baring Bros. A Co.
N. Y., Am. Exchange Bank.
May 1,1890
1911
N. Y. City, First Nat. Bk.
Jan. 1, 1888
N. Y., Bank of Commerce.

Various
Various
J. A J
M. A N
J. A J.
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
A. A O.
N.Y., Kountze Bro9.
Concord or Boston,
M. A 8.
do
do
J. A J.
J. A J. Bost.,Nat.Bk.Commonw’ltli
do
do
A J.
J. A J.
Jersey City and Trenton,
do
do
J. A J.
A O. N. Y., Manhattan Co. Bank,
do
do
A J.
do
do
A. A O.
J. A J.

personal property, 1882, $810,000,000,
’83/tax rate, per $1,000,
$2-04; in ’86, $P27.

450.000; in

Minnesota.—All the old State bonds

July 1, 1892

April 1, 1895

April 1, 1894
1887 to ’88
1887 and ’89
1889 to ’90
1887 to ’89
1887 and ’89

July, 1894 A ’95
Jan. 1, 1911
1894-o-6

April 1, 1897
Sept, 1, 1889
Jan., ’92 to 1905
July 1, 1889-’92
Jan., 1888 to '91
Jan., 1888 to ’96
Jan.,’97 to 1902
Oct., 1893
Julv 1, 1891
Oct. 1, 1892

$100,000

yearly

and in 1886 and 1887, $945,-

$1-82; in '84, $riO*5 ; in ’85,
formerly held by the permanent

school fund have been redeemed or exchanged for 4^s. Minnesotarefused for some years to recognize the “ State Railroad Bonds”
to the amount of $2,275,000, but a proposed compromise with the
holders was provided for in 1881, and was carried out by
the 4^2 per cent bonds. Taxable valuations and State tax per
have been:

of 1858,

the issue of
$1,000

Personal.
Tax Rat®.
$P80
$78,549,269

Real Estate.
$255,910,090

Years.

80,298,879

307,859,774

80,300,000

310,781,118
380,000.000

1886

83,000,000

1*30
1*80
1-30

Missouri.—The tax rate is $1*00 per $1,000. Bonds maturing are
met by sinking fund.
Total State debt Jan. 1, 1887, was $14,180,000,

including school fund and University certificates, $3,653,000.
The
Hannibal A St. Joseph RR. paid the State $3,000,000 for its debt, but
the State refused on Jan. 1, 1882, to pay the coupons on its own $3,000,000 of bonds. Litigation between the State and company ensued, re¬
sulting in a judgment against the company for $476,049, as due the State
on May 11. 1833; an appeal to the U. S. Supremo Court is yet pending.
The following is a statement of the assessed property in this State ou
June 1,1883, 1884 and 1835:
1884.

1885.

$495,293,007

$518,803,118

1883.

$443,144,455

Real estate

Personal property
Railroad property, Ac.
Total

$656,250,413

Nebraska.—The State school fund
ation of real estate, personal, railroad,

and tax rate per

186,425,373
44,564,997

173,345,191
39,760,767

$1,000, have been :

181,133.128
46,444,835

$726,283,378
$746,381,081
holds $326,267. Assessed valu¬
Ac. (33*3 per cent of true value,

Years.
1884
1886

Valuation.
$126,615,886
133,418,700
143,932,570
160,506,266

Tax Rate.
$7-69^
7‘72^

7*62is
....

Hampshire was created for war
issued to cities and towns,
Total valuation in 1883
31,423,680 17,731,725 $227,914,643; in 1884, $231,340,088; in 1886, $238,166,855; tax rate
31.423,680 18,182,672 for State purposes nearly $2’00 on $1,000 of valuation.

1,237,993,399 827,043.710
1,340,493,673 839,409,214
31,429,680 18,964,412
Michigan.—The debt is practically extinguished, as the sinking fund
has sufficient assets to pay the bonds. Equalized valuation of real and




Where

When

J. & J.
$12,000
Various
6
108,000
J. A J.
8
80,000 Amounts not
fundable, .
7*30 M. A 8.
260,000
Various
48,000 per report of ”
’
J. A J.
70,000 Jan. 1,18S7.
A. A O. 2,500,000
8
875,000
8
7(4) J. A *J. N.Y., Winslow, Lanier A Co
New Orleans.
2, 4,3 .T. A J.
J. A D.
Boston, Suffolk Bank.
6
A. A O.
6
Augusta and Boston.
J. A J.
London, Baring Bros,
do
do
J. A J.

269,000
298,435
62,605

$95,654,572; real estato, $293,204,320; in 1887.

ersonal, $132,929,103; real estate,

Rate.

Value.

explanation see notes on fire • page of tables.

For

or

par

New If ampslilre.—Thedebtof New
purposes. The Municipal loan of 1872 was
the proceeds to be applied to their war debts.

New Jersey.—The debt was created
of real and personal property (taxable)

for war purpose0. Valuation
was $573,256,203 in 1 ->80.

6

INVESTORS’
Subscribers will confer

a

Date of
Bonds.

Size

North Carolina—Fund, b’ds (coups.tax-rec’ble).
Old bonds not funded
Bonds to North Carolina RR
fundable
Bonds for N. C. RR. issue (tax receivable ops.)
RR. bondBnot fundable (Chatham and W.AT.)

"

Value.

1879

outstanding.

$50 &c.

Penitentiary bonds, act Aug. 24, 1868...

1,000
1,000

....

1879
....

1868

Special tax bonds (in 3 classes)

....

Ohio—Registered loan of 1881

r.

New 3% loan ($250,000 due yearly after ’89).
Pennsylvania—Reg. bonds, tax fr. (red’ble ’92).
Registered bonds, tax free, 15-25 years..
Loan of February, 1882 (registered)

1,000

1,000

44,000

1,000

11,366,000

....

600,000
2,740,000
6,502,000

....

100 Ac.
1877
1879
100 Ac.
1882
50 Ac.
do
do
in ten series
1882
50 Ac.
1872
Agricultural College land scrip
Rhode Island—War bonds
1863
1,000
War bonds
1864
1,000
South Carolina—State House stock and bonds.. 1853 to ’54
1,000
1866
50 Ae.
Funding bonds and stock
Blue Ridge Railroad bonds
1854
1,000
1868
Funding Dills receivable
1,000
1868
1,000
Payment of interest
1863
500 Ac.
Funding bank bills
Conversion bonds and stocx
1869
500 Ac.
1878
Deficiency bonds A stock (act 1878)
Consol, bonds and stock (Brown)
1874
500 Ac.
Tennessee— Funding bonds, act of 1873
1874
1,000
Bonds registered, act of 1873
Various.
1,000
Held by E. T. University (not to be funded)..
1,000
500 Ac.
1882
Compromise bonds (act of May 20, 1882) ....
Settlement bonds, act of Marcn 20, 1883
100 Ac.
do
do
5 A 6 per cents.
1883
100 Ac.
1872
Texas—Funding State debt fact May 2, 1871)...
Frontier def’se, gold, act Aug.5,’70(red’ble f91)
1871
1,000
Revenue deficiency bonds, act Dec. 2, 1871..
1872
1,000
Bonds, act Mar., 1874 (for paying float’g debt)
1874
1,000
1876
1,000
Redemption of debt, act Aug. 6, ’76
1879
100 Ac.
Bonds, act April 21,1879
Bonds issued to School Fund
1867
Firflumo—Old bonds,
fundable
1851 to ’66 500 Ac.
Old bonds sterling 2;1 fundable
£100 Ac
1851
Consol, (act Mar. 71) coup, tax receivable
100 Ac.
1871
do
do
100 Ac.
18*1
reg., conv. into ooup...
do
100 Ac.
1872
(act 1872) “Peeler,’" cp. not rec’ble..
do
do
“ Peeler,” reg. and certifs .
1*72
Deferred certificates (W. Va.)
1871
Various
1879
1C-40s, act March 28, ’79, coup, and reg
do
do
1879
sterling
“
Riddleb’r” b’ds, acts Feb.14,’82. ANov.29,’84
100 Ac.
1882

1,8 48,400
6,861,100
1,249,600
500,000

....

614,000
732,000

154,114

26,650

*

182-34.

52,000
13,000

128,000

36,500

44,200
418,941

....

6,138,995

(

a. onn non

397,000

....

....

.

.

.

2,014,000

10,932,400

1,038,000

67,000
499,000
467,000
288,000

1,647,000
1,068,900
82,168

.

....

1,759,425
629,090

13.019.000

1,212,910
365,000

532,684
12,691,530
6,890,300
219.800

....

2,872,320

$565,500,687 in 1885; $554,828,114 in 1884; $548,495,069 in 1883.

State school tax, $2 50 per $1,000.
New York.—The financial condition of the State has been fortified by
the payment of all debt except as above. The sinking funds October,
1886, amounted to $5,051,073.
The new Capitol building lias cost
the State thus far $17,863,401, paid for by taxation. Valuations and
State tax rate per $1,000 in 1886 and for three years previous were:
Real estate.
Personal.
State tax.
1880

$2,315,400,526
$322,468,712
$3*50
2,669,L73,311
2*57^
345,418,361
1885
2.762,348,000
332,383,239
2-96
1886
2,899,899,062
324,783,281
2‘95
North Carolina.—Interest was paid up to January 1882 on the
bonds issued to No. Car. RR., as the State holds $3,000,200 stock and re¬
bonds

-..

The

4
6
6
6
6
6
6
4
3
5
4

202,000

2,593,000
1,180,000

100 Ac.

1881

Rate.

$3,068,486
2,040,600

500 Ac.

....

86321 88183.$,0517 1834652.
,

INTEREST.

Amount

or

par

notes on first page of tables

ceives dividends thereon.

[Vol. XL>

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
For explanation see

SUPPLEMENT

old North Carolina RR. construction

3hj A 4
3^ A 4
6
6
6
6
6
6
6
6
6
6
6
6

When

Where

Payable

Payable and by

....

0.
0
J.
J.
A.
A.
A.
A.

A
A
A
A
A
A
A
A
.

.

.

.

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

due.

Whom.

J. A J. N. Y., Nat. Bk. of Republic.
Various Cps. since July ’68 unpaid.
Various Raleigh, Srate Treasury.
A. A O. N. Y. Nat. Bk of Republic.
A.
A.
J.
J.
F.
F.
F.
F.

Prinoinal—When

Cps. since July’68 unpaid.

Coup, of Jan.’69Asince unp.
Cps. A A 0*69 A Ap ’70 unp.
N. Y., American Exeh. B’k.
N. Y., Nat Bk. of Republic.
Phila., Farm. A Mech B’k.
do
do
do

do
do
do

1909
1868 to ’98
1884 to ’85

April 1, 1919
1868 to ’98
Oct., 1898
1893 to ’99

July 1, 1888
July l,’89-’99

Feb. 1, 1902
Aug. 1. 1904

Feb. 1. 1912
Autr. 1, ’88 to ’92
Feb. 1, 1922

Harrisburg, Treasury.

A J. Providence, R.I.H. A T. Co.
July 1, 1893
A A.
do
do
Aug. 1, 1894
A J. Columbia, State Treasury.
1871 A ’81
A J. Columbia and New York. J’ly 1,1887 to »97
g.
A J.
g.
Columbia, Treasury.
J’ly 1,1875 to '79
A O. Columbia and New York.
g.
July 1, 1888
A
O.
do
do
g.
July 1, 1888
J.
A
do
J.
do
g.
July 1, 1889
do
do
g- J. A J.
July 1, 1882
J. A J.
do
do
July, 1888
J. A J. N. Y., National Park Bank.
July l, 1893
J. A J.
<
6
July 1, 1914
) 5A6 J. A J.
1892, ’98, 1900
6
J. A J.
Nashville, Treasurer.
Various.
3, 4, 5, 6 J. A J. New York, Cont’l Bauk.
Jan.1,1912
3
J. A J.
Nashville.
July 1, 1913
5 A 6
J. A J.
do
July 1, 1913
6
Various
State Treasury.
1891
7 g. M. A S. New York, Bank of N. Y.
1911
7 g. J. A J.
do
do
1892
7 g. J. A J.
do
do
March 1, 1904
6 g. J. A J. New York A State Treasury.
July 1, 1906
5
J. A D.
do
do
July 1, 1909
6
State Treasury.
Matured.
6
J. A J.
1886 to ’95
5
J. A J.
1886
6
J. A J.
1905
6
J. A J.
1905
6
J. A J.
6
J, & J.
6
J. A J.
Contingent
3 to 5
J. A J.
1919
J. A J.
3 to 5
1919
3
J. A J.
Richmond, Treasury.
July 1, 1932
....

„

Tennessee.—A funding law was passed (actof May 20, ’82) without
clause, aud giving new bouds at 60 per cent
principal and interest of old, the new bearing 3 per cent in 1882,
S3, 4 per cent in 1884 and 1885, 5 per cent in 1886 and 1887, and 6 per
the tax-receivable coupon

of the

cent 1888 to 1912.
Exchanges were made in New York July, 1883,
and $3,224,351 of these compromise bonds were issued.
The Legisla¬
ture of 1833 repealed this law and passed a new one
adjusting the debt
on the basis of new bonds at 50 per cent of the face value or
old, a id

bearing 3

per cent interest; the old State debt proper of $2,118,000 was
made an exception, and new 5 and 6 per cent bouds were issued for that
at the face value.
The compromise bonds of 18»2, 3, 4, 5 aud 6 per
cent bonds are fundable into the new settlement 3s. at five sixths of
the face and interest, up to and inclusive of July, 1833. columns—thus
$1,000 compromise bonds receive $858’33 iu new 3s, and interest since
July, 1883, paid in cash. All the settlement bonds are redeemable at
option of the State after July 1,1888. Assessed valuations and tax rate
per $1,000 have been as follows :
Real estate.
Other property. Railroad prop’ty. Tax rate.

exchangeable for the new 6s, due 1919 (see V. 35. p. 132). aud
many holders have already so exchanged. The funding law of March 4.
1879, provided for funding old ante-war bonds at 40 per cent of the face
$195,383,568
$26,546,245
value; “ New ” railroad bonds recognized as valid at 25 per cent; fund¬
$
$2*00
195.753,414
26,884,459
3*'0
31,547,209
ing bonds of 1866 and 1868 at 15 per cent. Nothing for overdue cou¬
1884..... 200,212,900
26,631,284
34,350,170
3*00
pons. Coupons of the new bonds are receivable for taxes. The term
tor funding ended; but has been continued till March.,
201,097,500
25,651,803
31,547,582
300
1889. If
all were funded the new 4 per cents would be $3,589,511.
200,118,265
24,790,914
31,547,582
300
Special
Texas.—The old high-rate bonds were \redeemed and lower interest
tax bonds were ignored; also bonds to Chatham RR., 1868, $1,030,000,
and to Williauiston & Tarb. RR., $150,000, and for Penitentiary under bonds issued. Assessed valuations and rate of tax per $! ,000 have been:
Real estate. *
Personaltv.
acts of 1868. The special tax bonds are in 3 classes, class 1. bearing Years.
Total val’ation. Tax rate
the coupon of April 1809and since; class 2 of Oct. ’69; class 3 of Apl ’70.
$250,157,904
$169,767,572
$419,925,476
$3
In Juue, ’fc7, U.S. Circuit Court decided the suit of special-tax bondhold298.959,253
228,578,137
527,537,390
3
347.846,953
255,213,964
603,060.917
holders, and the case goes to the U. S. Supreme Court, and in ’87 Messrs.
3
37 s,890,594
Morton, Bliss A Co. were negotiating a settlement on the basis of a new
245,121,395
621,011,9*9
3-75
4 per cent bond.
395,211,678
235,313.445
630,525,123
3 75
bonds
two-thirds
fundable
and
Assessed valuation of real estate is about 60 per cent of true value.
the
Virginia.—The old
sterling
bouds carry coupons from July 1869, except the years 1872-3-4. The
Valuations and tax rate per $1,000 have been:
consols, of 1871 carry coupons of Jan. 1875 and since. The 10-40s carry
Years.
Real estate.
Total val’ation.Tax 59 $1,000
Personalty.
Jan. 1881 and since; but the consol, and 10-40 coupons being tax1881....
$104,742,911
$62,995,728
$167,738,639
$2-80
receivable,
these bonds are generally sold with matured coupons
1882....
108,988,184
2-50
71,389,341
180,377,525
olf.
The first funding law of March, 1871, allowed holders of
1883....
124,135,377
2*50
77,087,346
201,222,723
bonds to fund two-thirds of their debt into new 6 per cent bonds, bear¬
1885....
126,955,679
2-50
82,613,417
209,569,096
ing coupons receivable for taxes, and receiving for the other one-third
1886....
121,618,200
2-50
81,134,122
202,75*2,652
of their principal a “ deferred certificate,” to be charged to West Virginia.
—(V. 44, p. 744; V. 45, p. 53.)
The act of 1872 repealed the tax-receivable clause of tlie law, and the
Oliio.—Ohio had a State debt of only $3,341,665 in September, 188 7 bonds issued under it were called “ Peelers.” The McCulloch law of
but large local debts, amount ng in 1887 to $53,528,38.’, against $25,
March 28, 1879, authorized the 10-40 year bonds, bearing 3. per cent
957,588 in 1875; this increase being mainly in city debts. Valuations in for 10 years, 4 per cent for 20 years and 5 per cent for 10
Ohio have been ;is follows :
years, coupons tax-receivable. In February, 1882, the Riddleberger
Real estate.
Real estate.
Personalty.
Personalty. law for re-adjusting the debt and the laws familiarly known as
1866. $663,647,542 $442,561,379
$542,207,121 “Coupon killers,” were passed (see V. 34, p. 88. The Riddleberger
1880. 1,102,049,931 456,166,034
1884. 1,145,475,210 528,298,871 act provided for the issue of new bonds, dated July
1, 1882,
1881. 1,101,457,383 485,750,196
1885. 1,160,165,882 509,913.986 into which all others could be funded at specified rates below par, varying
1882. 1,116,681,655 518,229,079 i 1886. 1,173.106,705 515,569,463 from 47 to 31 on the different classes. This law was also amended
—Statetax rate per $l,000for’86-87, $2-99.
(V. 43, p. 775.)
and all bonds offered for funding after Jan., 1885, were required to
Pennsylvania.— Revenue is raised principally from corporations. carry the coupon of that date. 'The Supreme Court of the United
Taxes are levied on persona! property. The rate per $1,' 00 in 1836 States held (V. 36, p. 285), that the law requiring the validity of the
was $3.
Sinking fund, Nov., 1886, was $10,180,746, including $1,305,- coupons to be established before a State court did not impair the contract
814 in U. S. govts. Any coupon bonds may be changed to registered. making.them receivable for taxes, and was therefore constitutional, but
the question was again before the U. 8. Supreme Court in April, ’85, when
Real estate valuation in 1884, $1,600,000,000.
Khodc Inland.—The debt was all created for war purposes. In that Court held that a tender of coupons in payment of taxes was suffi¬
cient for the property owner.
(See also V. 42, p. 188.)
January, IS"?, the net debt, less sinking fund, was $772,000. The
A movement was begun in 1885 to procure an adjustment of the
State valuation of real property up to 1887 was $328,530,559; tax rate.
“Deferred” bonds or certificates by the Legislature of \Wst Virginia
$1 20 on #1,000.
and the holders of some. $*,o00,000 deposited their bonds with the
South Carolina.—The funding law of Dee. 23, ’73, provided for Farmers’ Loan A Tr.
Co., and the certificates of that Co. were listed at
50 J.H.
scaling down the old debt riv
1 tt ll l.
Jl lit* C
percent.
The
consols were again “ re¬ the Stock Exchange.
>.
'!
adjusted ” in 1879. rl he
lie several acts were passe*
In May, 1887, the negotiations with English bondholders for a settle¬
passed Dec. 3, 1873, Dec. 24,
1878, Dec. 24, 1879, and February, 1*80.
In July, 1887, there ment failed, though liberal concessions were offered by the bondholders.
were green consols not
A ssessed valuations have been as follows:
yet'exchanged, $826,171, less ;amount invalid,
$631,373. The old issues yet fundable on .1 ;ly 1, 1887, were $454,149. Years.
Real Estate.
Tax Rate.
Toral.
Personalty.
Valuations and rate of tax per$1.00w have been:
i 1882.... $232,386,357
$4-00
$77,666,765
$310,053,121
Years.
Real < stati
Railroads.
Tax rate.
4-00
Personalty.
1883.... 236,368,227
318,157.937
81,789,710
$77,609,666
$ 41.785,768
4-00
$13.76 ",400
1*84....
328.*OhO )0
$5,00
239,826,0.)0
83,974.040
are

,

1881-85...

1885-86...




J

U1U

87,131,400
87,559,538
86,114,852

UCUl

48,249.939
46.90-4.7o5

42,836,2*8

15.227,96 4
15,263,366
15,521,0 41

5* 0
5’50
5‘25

1885....
1v 86....

256,916,140
57,607,935

84,834.270

83,152,971
—(V. 43, p. 432,446; V 44, p. 451, 495, 52

341.800.410
340,760,906

4-00
4-00

r

■■■
■
=“
immediate notice of any error discovered in these Tables.

======

-

—

7

SECURITIES.

CITY

November, 1887.)

Subscribers will confer a great favor by giving

INTEREST.
Date of

DESCRIPTION.

Size

bouds.

Albany, N. I'.—Purchase
City improvement.
Washington Park

Congress Hall Block..

New Post Oiiice site
Water debt <$400,000 due
New City Hall
:....

1900-3, are 7s)

South Pearl Street bonds
Bonds loaned to Albany A Susquehanna

RR..

Atlanta, Ga — Bonds for streets, floating debt...
Bonds for A. L. Railroad and State House
Bonds for West. RR. and floating debt
Bonds, 1st and 2d series, waterworks
Redemption bonds
:
do

-

Bonds to fund floating debt

Capitol bonds
Redemption bonds
Auyiista, Ga.—Boiuls for

—

various purposes

Baltimore—Consolidated loan of 1890
Water loan, reg. stock, red. at will after 1916
Fundiug loan, reg. stock, tax free
Consolidated bounty loan
Exempt bounty loan
.'
Public parks (Druid Kill)
Park improvement loan
Patterson Park extension
Five million loan to Baltimore A Ohio RR
New City Hall
Paving loan
Funding loan

Railroad
Jones’ Falls ($957,000 are 5sA$390,000 3*65s)
Western Maryland
do
Water loan

...

($263,000 only are 6s)
Harford Run improvement loan
Western Maryland RR. loan

do
do
Endorsements for Western Maryland
do
do
Union Railroad

1866
1870-’71
1870-’82
1874
1874-’80
1882
1882
1865
1867-72
1869-’70
1870 A ’72
1874
1877
1881
1879
1884
1886
Various.
Various.
1877
1878
1863
I860

1860
1863

do

(F.AA. and M.AS)..

Railroad refunded
Boston—<1ty debt and Charlestown
City debt registered
do
do
do
do

do

City debt
Suffolk County Court House

;

.

1,000
500 Ac.

349,000

1,000

400,000

500 Ac,

318,000

1,000

427,000
77,500
120.500

500 Ac,

1,000

335,000
55,000
141,000
2,256,000
7,306,546

1,000
Ac.
Ac.

Ac.
Ac.
Ac.
Ac.
Ac.
Ac,

5,000.000
1,000,000

2,211,068
410,353
555,566

185,723
200,000

1853
1870-’74
1881
1870
1872
1872-’S4
1885
1874
1880-4
1882
1887
m

-

m.

m

m

1861
1869
1871-’72

Ac.
Ac.
Ao.
Ac.
Ac.
Ac.

100
100
100
100
100
100

5,000.000
1,500,000
700,000

m

^

_

... m

600,000
684,000

l,7o0,000
875,000
117,000

m

1,000

50,000

500 Ao.

50,000

1,000

100,000
500,000

500 Ac.

1,000

1,000,000

50" Ao

925,000
180,500

Various.
Various.
Various.
Various.
Various.

137,000

425,000
oD4,oUU

>

382.850
1864 to’80
1878-’82
1879
188 5
1885
1835
Various.
1-87

1,000

9.060,500

9,848,009
m

m

m

m

450,000

^

m

m

m

1,391.000
109,000
947,000
230,000
800,000
100,000

....

West Koximry
Burnt district, sterling loan

£100 Ac
1873
1869
£100 Ac
Consolidated street improvein’t, sterling loan.
1887
1,000
Park bonds
1,000
Mystic water debt, assumed, part renewed.. 1862 to ’^6
1867 to’76
Cochituate Water loan, 6 per cent
1875 A’78
5 per cent
do
do
1878
4 per cent
do
do
1872
£100 Ac
do
do
Sterling
1875-’7G
do
5 per cent gold
do
1879
do
do
4^
do
1879-’80
do
4
do
do
1883-84-85
4 per cent
do
do
1884-85-37
do
do
per cent
1837
3 per cent
do
do
1861
1,000
Brooklyn—Brooklyn local improvement loan...
1856
1,000
Mount Prospect Square loan
1865
1,000
Soldiers’ aid fund loan
1866
1,000
Gowauus canal improvement loan, local....
1865
1,000
Bushwick avenue
do
do
do ....
1863
1,000
SouthSeventh st.
do
do
do
1868 A ’69
1,000
Fourth avenue
do
do
do
1867
1,000
Wallabout Bay
do
do
1870
1,000
New York Bridge loan, registered and coupon
187o-’83
1,000
Bonds for N. Y. A Brooklyn Bridge, cp. or reg.
i860
to’73
1,000
Prospect Park loan, reg. A coup
1
800
to
*7?
1.000
Prospect Park loan
.....
•

___

4*2

Where pavable
whom.

Due.

and by
’

A. Boston, Merchants Bank. Feb.. 1888 to *91
1887 to 1900
New York.
S
1910-’21
New York and Albany.
N.
N N Y., Merchants’ Nat. Bk.
May l, 1904
1894 to 1912
do
do
A.
July 1,1905 to’10
do
do
J.
Nov. 1, 1888 '
Albany.
1895-’97
M. A N. N. Y., Del. A Hud. Canal Co
J. A J.. 1892
New York, Park Bank.
J. A J.
J. A J., 1890
do
do
J. A J.
Jan. 1, 1902
do
do
I. A J.
Jan. 1, 1904
J. A J. New York, Fourth N. Bank.
Jan. 1, 1897
J. A J.
Atlanta or New York.
do
do
1911-1915
Various
New York, Park Bank.
Jan., 1888-1896
J. A J.
Jan. 1, 1914
New York and Atlanta.
J. A J.
do
do
J. A J.
July 1, 1916
1887 to 1915
Various
Augusta, Treasury.

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

6 A 7
6
5
5
6
6
6
6
4
6
6
4
6
6

4
4

A
A
A
A
A
A
_

.

_

Q.—J.

Balto., Farm. A Plau. Bank.

M. A N. Balto., Nat.
do
M. A N.
do
M. A S.
do
M. A S.
do
Q.— M.
do
Cv.
J

Mechanics’ Bk.
do
do
do
do

do

•

t

n

Q.-J.
Q.-J.

M. A N.

1,947,274
3,552,000
268,000
686,000

1,828,000
575,000
200,000
213,000
90,000
394,000
15,000
68,000

75,000
174,000
72,000

Balto., Farm. A Plan. Bauk.
do

do

Balto., Nat. Mechanics’ Bk.
Balto., Farm. A Plan. Bauk.

July 1, 1890
July 1, 1916
After July, 1916
Sept. 1, 1893
Sept. 1, 1893
Sept. 1, 1890
Jan. 1, 1895
1920
Jan. 1, 1890
1900 and 1902
Af*er Nov. 1,1920

3
5

3i*

3^
6
5
4
5 g.
5 g.

3*2
3
7
6
7
7
7
7
6 A 7
7
7

1,217.000

Albany,—The loau to Alb. A Susquehanna is secured by first mort¬

gage. l’tie valuation of Albany City in 1886 was: Rea) estate, $60,728,720; personal. .*86,154,270; tax rate per $L,000, $1$ 40.
Valuation in
1885—Real estate, $60,3b 1,215; personal, $6,044 250; tax rate, $20 60.

was $2,223,000.
As¬
sessed value of real estate lu 1835, $21,02 1,370; personal, $7,889,269;
tax rate per $1,000, $15
In 1836 real estate, $23,820,524; personal,
$7,679,489; tax rate, $15. copulation, 37,409 in 1880; 21,789 in
1870.

7
6

After Jan. 1,

Balto., Farm. A Plan. Bank.

1920

Boston, Treasurer’s Office.
A. A O.
Various
A. A O.
A. AO.
M. A N.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J
J. A J.
J. A J.
J. A J.
J. A J

Jan.

1, 1927

Balto., N.Mechanics’ Buux. Jau. 1, ’90 A 1900
Jan. 1, 1895
Baltimore, Franklin Bauk.
1892
Boston, Merchants’ N. B’k.
do
do
Nov., 1887 to 1891
Jan. 1, 1894
do
do
do
do
July 1, 1905
Jau. 1, 1894
do
do
do
do
April 1, 1899
1897 A 1902
City Treasury.
1898
do
Jan. to Oct. 1891
do
do
J ul v 1, 1888 to’99
1891 A 1902
do
1902 to 1920
do
1887 to ’97
Boston, Treasurer’s Office.
1887-1914
ao
do
do
do
Oct., 1.889
1896 to 1916
do
do
3 895 to 1916
do
do
1895 to 19 j6
do
do
V ariouR.
do
do
do
do
April 1, 1937
1888 to 1891
do
do

Various
Various
A. A O.
Various
A. A O. London, Baring Brothers.
do
J. A J.
J. A J. Boston, Treasurer’s Office.
do
do
Various
do
do
Various
do
do
Various
do
do
A. A O.
A. A O. London, Baring Brothers

4l2g. A. A O.
4 g.
4

do

do

July 1. 1925

314

3,000,000
9,245,237 4, 5, 6, 7

8,019,000

J.

J. A J.
J. A J.
J. A J.
* Various
M. A N.
J. A J.
J. A J.
J. A J.
A. A O.
412 A 5 M. A S
Various
6
A.. A O.
6
J. A J.
5
6
Various
l
6
4
J. A J.
Various
6
4
Various
41fig. A. A O.
Various
3^3

3*4 to 6

13,000
588,000

A

6
6
7
4
6
6
6 6 A 7

900,000
789,000

4,897,000

J.

.D4

7
5 g.
5 fir*

.

Population, 90,758 in 1880; 69,422 in 1870.
Atlanta,—The total bonded debt Jan. 1 1887,

Payable

8
7
8
7
8
5
6
6

4,997,604
2,834,585

....

_

-

When

July 1, 1900
800,000
Q.-J.
Jan. 1, 1902
J. A J. Balto., N. Mechanics’ Bank
1,000,000
do
do
April 9, 1900
2,027,000 3-65.5A6 Q.-F.
do
do
1900
3
100,000
q.-f.
do
do
July 1, 1894,1922
5,000,000 4, 5 A6 J. A J.

100 Ac.
100
100 Ac.
100

m

1872
1885
1874
1875
-1869
1869

Bangor, Me — City debt proper
Refunding bonds
Municipal loan
Water loan bonds, coup. (Act Feb. 22, 1875).
European A North American Railroad
Bangor A Piscataquis Railroad

do

1,000

100
100
LOO
100
100
100
100
100

6
7

418,000
1,058,000 4, 5, 6, 7
7
115,000
6 A 7
1,089,000
145,000
4
62,000
6
858,000

1,000
•

Rate.

$127,000

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

RR

Bath,Me.—Fund, debt ($78,000are5s,’97, J.AJ.)
Knox A Lincoln RR.. for stock and coupons
Androscoggin RR. (guar, by Maine Cent RR..
Knox A Lincoln Railroad ($23,750 each year)

outstanding.

value.

Forexplanations see notes on first page of tables.

Principal—When

Amount

or

par

do
do
do
do
do

do
do
do
do
do

Brooklyn.
do
do

do
do
do
do
do
do

do
do
do

April. 1893
July, 1899
1917 A 1937
1887 to 1916
1897 to 1908

1907-1908
1908

Oct., 1902
1905-1908
1909
1909-1912
1913-1917
1914-1917

April, 1917

^

.

.

§

<u

:3

1891
1887
Jan. 1, 1888 to’94

July 1, 1888 to 90
1887 to ’90
188 7 to ’90
1887 to’89

6
CD

July 1, 1888
£3

,

& aj +3
Q

hM .3

0

sonal, $2,858,797; tax rate per $1,000, $22 50.
1-30, 18,829 in 187o.

Batli, Me.—The city holds a first mortgage on

1899-1924
1905 to 1928
1924
1915 to ’24

Popuiacm...

:a

the Androscoggin read

for tue debt, and first, second and third mortg’es ou the Knox A Lincoln
for its nroportion of $895,000 out of a total of $2,395.0 >0 .ou.l- issued by
several cities in aid of the latter road. There are also $14,000 6s outstand¬

ing in addition to those above. Tax valuation in 1886-37: Real estate,
$2,356,415; personal, $3,3 *0,195; tax rate per $1,00 ». $21. Tax val¬
uation, 1885-86—real estate, $2,857,870; personal, $3,341,930. Tax
rate, $24 per $1,000; 1884-85, $2,821,515 real estate and $4,095,820
personal; rate, $25.

Augusta.—Of tliis debt, $600,000 was issued for railroads, and balenlargement, water works, Ac. Sinking funds, Jau. 1, 1885,
Boston.—The population of Boston in 1880 was 362,839; in 1870,
$330,000. Taxable valuation in 1885: Real estate, $« 1,463,310; per¬ 250,526. against 177,840 in 1860. The gross debt on May i, 1887, was
sonal, $5,088,430; tax rate, $16 25 per $1,000. Population in 1870, $46,799,963, and the total sinking funds, Ac., applicable to it $19,971,by U. 8. Census, L5.389; n 1880, 21,891.
811, leaving the net debt $23,828,151. The law of April 17, 1885,
Baltimore.—The Balt. & Ohio RR pays interest on $5,000,000. limited the taxation in Boston for city purposes t > $9 on the average
Water loan is paid by income of water works, and Publio Park by City valuation of five rears preceding, to which is added the ta< for city debt
Up to Jan. 1, 1887, the debt was not to be over
Passenger Railway, and against a total debt of $34,955,290 the city is and for State purposes
chargeable with interest on only $18,698,722, and holds productive 2^ per cent of assessed valuation, and after that date 2 per cent
assets, including the sinking funds, equivalent to $12,869,848, leaving Assessed valuation on May 1 for four years has been:
on Dec. 31, 18->6, only $5,828,875 debt over interest-bearing assets.
Net Debt.
Tax
Personal
Real
There are also held $5,789,000 of unproductive securities. Pop mtion Years.
Deo. 31.
Rate.
Estate.
Estate.
in 1870,267,354; 'n L880, 332,313. In Jan., 1887, the city issued the 1884
$24,766,064
$L7 00
$194,526,058
$188,130,600
12 30
3*4 per cent bands to pay off West. Maryland debt.
24,700,014
Assessed 1885
189,605,600
490,973,400
12 10
25,8^2,395
valuation, near me full cash value, and tax rate have beeu;
193.086.500
1886
517,495,200
13 40
Total
Rate of Tax 1887
200,454,600
Personal
Real
547,170,300
Years.
Valuation.
Estate.
Property.
per $1,000.
Brooklyn.—The whole city debt was as follows Jan. 1,1886 and *87.
...3881
$248,803,232
15 00
$189,91 >,494
$58,889,739
Jau. I, 1887.
Jan. 1. 1886.
..4881
249,651,699
16 00
58,135,586
191,516,113
$26,077,543
Permanent debt
$26,264,543
1885..-.
253,913.271
16
00
59,496,377
195,416,
10,893,500
11,645,500
Water loan.
..6881
256,240,655
17 00
1,640,000
Debt payable from assessments
2,618,000
-<Vol. 43, p. 693, 738.)
2,000,000
3.000,000
Tax certificates
Bangor, Me.—'The loans to Eu. A No. Am. R. R. to Bangor A Pis. R.
R. are secured oy first mortgages on those roads, and interest fuL^ paid
Gross debt
$43,528,043
$4 ,011,042
from the earnings
The valuations (uear full varne) in 1386 were: Real Less sinking fund
7,121,271
<.,980,210
4fltate, $6,693,650; personal, $2,831,765.
Municipal property, inNet debt.
$36,106,772
$33 ,624,803
•luding water works, $810,000. In 1887, real estate, $6,770,998; per¬
ance tor canal




INVESTORS’

8
Subscribers will confer

a

Size

Date of
Bonds.

Brooklyn—( Continued i—
Permanent water loan

Sewerage fund bonds, continuous, local
Assessment fund bonds, continuous, local

outstanding.

1857 to ’75
Various.

$1000

$10,893,500
72,000

Various.

1,000

1,000

Various.
1884
1884
1884
1883
1870 to’86
1870 to’86
1880 to’86
1864
1863
1870 to ’76
1873-’74

Temporary tax certificates

*.

in 1894)

Buffalo, A. r.—Funded debt bonds
*

Cambridge, Mass.—City bonds
City bonds

1,018,000
1,000,000
887,305
549,000

....

....

....

1,000Ac
1,000Ac
l,000Ac
1,000

4
3 to 7

....

150,000
347,000
689,000

5
5 g.
6
6

265.000

4

500 Ac.

1,000

Charleston, S. O.—Fire loan bonds, coupon
Conversion bonds, to redeem past-due debt...
do
do
do
do

coup, or reg

Chelsea, Mass— Sinking fund bonds
Bonds

1866

.

.

.

....

....

1878
1879

.

_

.

_

m

Funded debt, coup
do
notes
Water loan, coup

as

«

m

m

....

1,000

.

....

1,000

Water loan
Water loan

100. Ac.
500 Ac.

1882

(refunding)
Sewerage bonds

1880

do
do

r

1,000
improvement bonds
1,000
Municipal bonds
500 Ac.
Municipal and School bonds
188i
Municipal bonds (refunding loan)
1865 to ’80 500 Ac.
Cook County debt
1868
1,000
Cincinnati- B’ds for erection of a WorkhouseX
1869
Bonds for W ater Works
C3
1,000
1863
Bonds for Common School purposes
1,000
P
1855
Bonds to O. &M. RR. to purchase whf. prop. .N
1,000
Bonds for ext. and impr. Water W..C, D. AE 1847 to’50 500 Ac.
Bonds for funding floating debt
AAA2 1847 to ’48 500 Ac.
1867-’68
Bonds for new Hospital
8AS2
1,000
1853
Bonds for fimding floating debt
1,000
L
1851-’53
Extension and improve. Water Works.. .K AF
1,000
1858
Bonds to purchase Orp’n Asyl. grds. for park.O
1,000
River

■

—

1869
1,000
1.869
1,000
1869
1,000
1871-’72
1,000
1871
1,000
500 Ac.
1872
1876
500
Ac.
are gold 6s)
1878 & ’79
1,000
1874
1,000
1875
1,000
1875
D1
1,000
1879
U2
1,000
1876
S3

4,941.500
250,000
150,000
98,000
194,000
397,000
171,500
750,000
60,000
175,000

131,000
150,000
150,000

Bonds for sewerage
R
Bonds for improving Gilbert avenue
U
Bonds to build Eggleston avenue sewer....B3
Bonds for Water Work purposes
C5
General improvement
W2

do

do

Floating debt bonds, coupon
Park improvement

Water-works bonds
Bonds for McLean Ave.

sewer

Hospital bonds
University
H2
1876 to ’83 Various
Street improvement bonds, short
1,000
Consol, s. f. bonds, 30-50 yrs. (Act Apl. 9, ’80, 1880 & ’81

Assessment bonds
Work House and Infirmary

U3AU4

100 Ac.
1881
Deficiency loan (redeemable after 1891)
Deficiency and pavement bonds (10-20 yr.) .. 1885-’86.
Cleveland—Vi ater works ($200,000 are 6 p. ct.). 1872 to ’84
1,000

Fundeddebt
Lake View, Wade aud Monumental parks
Canal and canal lock ($11,000 are Os)

....

Sohool

General bonds, various purposes
Viaduct (mostly F. A A., A. & O.
Elevated Roadway

and J. & D.)

Special bonds
Kingsbury and Pearl Street Bridges
Dts Moines, Iowa—2d renewed j udgment bonds
Funding bonds, redeemable 1878
Warrant funding bonds
Detroit,Mich.—For Water W.Co., on city’s credit
Public Building stock (Citv Hall) bonds

300,000
600,000

1872 to’84
1,000
1872 to’87
1,000
1874 to’87
1,000
1871
1,000
1885-86
1,000
1873 to’78
1836
1,000
Various.
1884-5-6
1,000
1885
1,000
1878
1,000
1886
1855 to ’81 500, Ac.
1863 to’73

200,000
175,000
50,000

76,000
884,067

2,067,000
64,706

79,000
500,000
2,473,000

1,775,000

1,823,000
322,000
275,000
35,000
250,000
2.138,000
335,000
572,300
225,000
228,000
175,000

22'<,000
1,451,000

...

Population in 1870, 396,099, against 566,663 in 1880.
and tax rate per $1,000 have been:

Valuation o)

property
Years.

Real.

Personal.

$311,308,060
336,221,357

$L9,375,702

339,922,812

22,049,310
14,217,276

Rate.

$19 00
26 50

362,138,5(3
21,685,597
The debt of Kings County, separate from the debt of Brooklyn, n
about $4,000,000, of which the city is responsible foi iv 0tlis.
Buffalo.—Valuations and tax per $1,000 have been:
Years.
Real estate.
Personalty. Tax Rate.
$93,167,090
$16 27
$3,796,675
16 44
1864
96,341,455
8.459,735
17 21
99,912,470
8,461,675
17 27
113,963,945
8,405,225
Buffalo also pays 77-100 of Erie county debt. Coupon bonds are exchange
able for registered. The interest on different bonds is 3^. 4, 4^, 5, 6
and 7. Population, 202,818 in 1885; 154,766 in 1880; 117,714 in 1870.

Cambridge^ Maw.—The sinking funds, Nov. 30, 1886, amounted to
$1,299,188, and net debt to $2,208,311. The investments are nearly all
city bonds at par and stamped “not negotiable. Valuation, 1885,
real estate $42,588,300; personal $12,758,255 ; total, $55,346,555; tax
rate, $155.
Valuationiu ’86, $44,u55,200 real estate and $14,490,470
personal; total, $59,415,670; tax rate, $1 50 per $100. Population,
52,669 in ’80; 39,634 in ’70.
Charleston, S. C.—The bonds of Charleston are mostly held within
in

the State of South Carolina. Conversion bonds of 1878 and 1879 are issued
in exchange for city stock. Valuations and tax rate per $1,000 have been:
Years.
Real Estate.
Personal Prop.
Tax Rate.

$16,246,865
16,753,760
16,933,565

$3,186,216
8,138.153

$20 00

20 00

7,809,212

—Population, 49,984 in 1880; 48,956 in 1870.
Chelsea, Mass.—Sinking fund, Jan. 1, 1887, $365,712, which in¬
cluded $2f 4,000 of the above sinking fund bonds, and net debt, Si,296.087. Valuationiu 1886, real estate, $16,530,850, and personal, $2,275,812; total, $18,806,662; tax rate, $17 80. Population 21,782-in 1880;
16,547 in 1870; 24,347 in 1884.




6
6
6
7
3*65
7

4^
4

7
6
7
4
4*2 to 7
7 3-10
7 3-10
6
6
6
6
7 3-10
6
6
6
7 3-10
7 3-10
7 3-10
7
7
7 3-10

8,191,000
4,825,000 6g. or 7*3
6 A 7
2,260,500
7
995,000
7
65,000

■

ioo

1882

100.000

357.500

do
‘3 m 2
do
g
do
*
do
do
do
do
Buffalo and New York.
do
do
do
do
,

.

9‘Jj^g

Various
Various
J. A J.
A. A O. Boston, Bank Redemption
J. A J.
Boston, Tremont Bank.
J. A J. Boston, Bank Redemption
do
J. A J.
do
do
do
do
do
Various
do
do
do
'
do
do
do
J. A J.
Charleston, Treasury
A. A O.
do
do
A. A O.
do
J. A J.
....

.

.

.

.

....

July 1.’88 to 1900
April 1, 1889
Jan. 1, 1893
1890 to ’96

July, 1903-4-5
1895 A 1905
Nov. 1. 1896
April, 1888 to ’97

1894-’98-1910
1906 and 1911
1890
1888 to 1897

Oct., 1898
July 1, 1909

April 1, 1888

....

Various
Various
F. A A
J. A J.
J. A J.
J. A J.
J. A J.
J. A J;
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
M. A N.
J. A D.
J. A D.
J. A J.
M. A N.
A. A O.
M. A N.
Various
J. A J.
Various
M. A S.
M. A 8.
M. A S.
A. A O.
F. A A.
J. A D.
J. A J.
M. A N.
Various
M. A N.
J. A ' J.

1887 to 1916
3 years from date.
3 years from date*
3 years from date.
1887 to 1905
1924
1924
1893
1887 to 1926
June, 1888 to 1909

1887 to 1908

....

412

1,042,000

r

Brooklyn. 1 'GJ'tii

....

6

96,000

458,000
2,608,000
186,000
2,176,000

J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.

.

512

489,500

Due.

Whom.

Payable

-

5,000
997,000

132,000
3,490,000
333,000
1,675,000

....

....

Cincinnati Southern RR
do
do
($2,890,000

7
7
6
4

100,000

1,000
500,Ac.

Chicago— W ater loan

312

109,500
3,414,100
363,800

.

100 Ac.

'

»

6
4 A 5

500.000

.

Principal—When

Payable and by

....

3*2

25,000
1,161,000
336,500
218,000
92,800

'

.

3^2 to 7
3 A 4*a

100,000

....

....

4
4

3^ A 4

500 Ac.
500 Ac.

1868 to ’77

3*2
3*2 A 4
3ifl

200,000
5.059,936
2.628,382
416,*. 08

1,000

$12,500 are 5s)

3 to 7

Where

When

Rate.

2,350,000

57546688118 1
do
do
do
do
Water loan
do
(only
do

INTEREST.

Amount

or

par
Value.

for explanations see notes on first page of tables

water works bonds
Tax loan bonds

[Vol. XLV.

great favor by giving immediate notice of any error discovered In tbese Tables.

DESCRIPTION.

Certificates of indebtedness
Bonds to pay arrears to county
Arrearage bonds, reg. (redeem,
Award bonds for lands taken

SUPPLEMENT.

Boston, N. Bk. Redemption Aug. 1, 1891 to ’95
Sept. 1,1889-1890
Boston, N. Bk. Redemption
Aug. 1, 1897
N. Y., Am. Ex. Nat. Bank.
1897 A ’98
do
do
July 1, ’88 to ’95
do
do
July 1, 1902
do
do
July. 1888 to’95
do
do
July 1, 1900
do
do
July 1, 1904
do
do
July, 1890 to’95
do
do
July, 1895 A ’96
.

.

do
do
N. Y.,

do
do

Jan. 1, 1888 to ’99

Metropolitan Bank.

N.Y., Am. Exch. Nat. Bank.
do
do
do

do
do
do

Pkila., Bk. of

North Amer.

do

do

N. Y

,

1889

Jan., 1890

Am. Exch. Nat. Bank.
do

April 1,1901
May 1, 1887-’92
June, 1888
Nov., 1890
April, 1895
May, 1897
1897 A 1898

do

Jan., 1900
Phila., Bk. of North Amer. June A Oct., 1900
Cincinnati.
Mar., 1888A 1908
N. Y., Am. Exch. Nat. Bk.
8ept., 1899
do
do
Sept., 1899
do
do
Oct., 1899
do
do
Aug., 1897
do
Dec. 1, 1891
do
do
do
July 1, 1902
do
do
May 1, 1906
-

do

do

1902-1908-1909

Cincinnati.

May 15,1904

1890
N. Y., Am Exch. Nat. B’k.
Cincinnati.
F. A A.
7
Aug.,’90 A’95
M. A N. N.Y., Am. Exch. Nat. Bank
5 A 6
May 1889-1909
7
M. A N.
Cincinnati.
May 1, 1906
F. A A.
7
Aug. 1, 1897
Cincinnati.
1887 to ’95
5 A 7
Various
4 A 5
1930 A 1931
Various N. Y., Am. Exch. Nat. Bk.
4 A 5
Various
1889 A 1890
Cincinnati.
4 A 6
J. A J.
July 1, 1887 to 92
4
J. A D. N. Y., Am. Exch. Nat. Bk.
June l, 1901
1905
4
Various
1892 A 1903
3*65 to 7 Various N. Y., Am. Exch. Nat. Bk.
do
do
1887 to’97
4, 5, 6, 7 Various
do
do
1887 to’92
6 A 7
Various
do
do
Various
1894 to ’98
6 A 7
do
7
A. A O.
do
1888
do
do
Various
1888-1895
4-412
do
do
1893 A 1907
5, 6 A 7 Various
do
do
4
1902-3
Various
do
do
1887-’95
4, 5,7 Various
do
do
1899-1902
4, 4ig, 5 Various
N. Y., Coffin A Stanton
4 *2
J. A J.
1905, payable ’90
do
do
7
J. A D.
July, 1888, or’98
do
do
M. A N.
412
1906,red.at option
N. Y., First Nat. Bank.
1887 to 1906
4 to 7
Various
7
do
do
Various
Apr. 1,1888 to’93

Chicago,—The city debt is limited to 5 per cent of the Illinois Stat e

valuation. Total funded debt January 1, 1887, was $12,583, 500, but
of this $3,955,000 was on account of the Water Works, which yield an
income ranch above the interest charge on the debt
Sinking fund in

1887

was

$341,037.

Valuations as follows:

Personal. Tax per $1,000.
Real Estate.
884
$35 48
$L03,606.743
$31,720,237
36*81
1 *85.
107.146.881
32.311.411
1386.
122,930.123
35,516.009
• 887
130,474,379 28,068.196
The assessed value of real estate is about one-third of its true value.
Population in 1870 was 298,977, and in 1880,503,185. The South Park,
West Chicago uark and Lincoln Park loans are not debts of the city
but of distinct corporations.
Cincinnati.—In addition to the bonds as stated above, city holds
$1,274,000 of Cin. South, bonds in sinking funds aud $474,473 Street
Improvement bonds. In 1870 the population was 216,239, against
fears.

255,139 in 1880. The following table from the books of the Auditor
Hamilton County, Ohio, exhibits the assessed valuation of the city
Cincinnati in the year 1860
Real
Years.
Estate.
1860
$61,620,904
1870
78,736,482

124.625,370
127,454,100
129,378,370

and 1870, and from 1884 to 1888:
Personal
Estate

Total
Valuation.

$31,411,912

$93,032,716
136,107.236
169,534,192
170,086.963
171,950,031
174,000,000

57,370,754
41,908,822
42,632,868
42,571,661

of
of

Tax per

$1,000
$17 45
31
25
26
25

60
56
86
44

1888.
The city owns the stock of the Cincinnati Southern Railroad, leased as
per terms, V. 33, p. 281, and with the waterworks and other property
and bonds held for investment, has assets put at $36,554,631.

Cleveland.—The sewer, street iraprovem’ts and street opening

bonds

special localimprovemeuts, and redeemed bv assessments on the
property benefited. Population,, 160,146 in 1880; 92,829 in 1870.

are

for

Assessed valuation, tax rate, lebt and sinking funds have been*
Years. Real A Personalty. Tax $ 1.000. General Debt. |]3pecial

L884

1885
1386

$85,978,005
83,285,845
91.):

$14*29
14*35
I.?*!'.

$6,386,000
6,917,000
8,015,000

Debt.
$375,800
708,000
695,900

9

SECURITIES

CITY

1887.]

November,

by giving immediate notice of any error discovered In these

Subscribers will confer a great favor

Tables.

INTEREST.
»

Date of

DESCRIPTION.
por explanations

see notes on first page of tables.

Detroit, Mich yan -

(Continued) —

pphlie sewer bouds ($35,000 are
Rends for purchase Belle Isle
Bonds for Bridge
Public Improvement
TLTorlrAf

6s)

hOTlds

bonds

Elizabeth, N. J—Improvement
Funded debt bonds
School House bonds
Market House bonds

Consolidated improvement bouds
Funded assessment bonds

Tax arrearage bonds
flew Adjustment bonds and
rie (Penn.)—Water bonds

57648811

Improvement bonds
Consolidated bonds...

scrip

.

do

do

Evansville, Indiana— Series A,
Series B,
Series C,

-

flew Water Works loan
fall River, Mass.—City notes

City

fund, debt loan.
do
do
do

do

bonds

do
do
do
do
do

1872 to’86
1879
1886
1886
1880
1871 to ’74
1870 to’75
1872 to ’73
1865 to’66
1875-’76
1877
1876
1882
1869 to’73
1869 to’73
1874 to ’78
1887
1887
1887
1887
1887
m

m

mm

•

•

•

5,000

rooo
1,000
1,000
1,000
1,000
1,000
1,000

(sewer)

•

....

do
do
do

....

fitchburg, Mass— City bonds
Water loan
do
do

-

registered

ffaIvesion, Tex— Limited
do
do

debt bds. (sk’g fd. 2 %)

62,000
5.7,700
250,000
675,000
350,000
720,000
400,000
311,000
45,000

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

1,000

600,000

1,000

450,000

Galveston County bouds, G. C. A S. F.
Hartford, Conn—Water bonds
City bonds (IT. P. AF. RR.)
Funded debt

Capitol bouds

Hartford town debts
do

do
do

RR —

war

floating debt

1872

City bonds

1877-’79

School bonds
Water bonds

Improvement bonds ...1
City Hall and Engine House bonds
Holyoke, Mass—City notes
City bonds, sinking fund
do
do

Water loan

Railroad loan

:

($60,000 are J. & J.).

do

B
C
D

do
do
Purchase-money bonds—Southern

Park

Jersey City— Water loan bonds, mostly coupon
Wafer loan liondspnostly coupon

1

Water loan

Forty-year bonds
Improvement bonds
Morgan stTeet dock
Funded debt bonds
Old Jersey City bonds, coupon
Hudson City bonds
Bergen school loan bonds
Bergen street improvement bonds
do
bounty loan
Assessment funding bonds
Temporary loan
Bonds to fund floating debt. Ac., coup, or reg.
Bonds to pay

maturing bonds, Ac

City of Jersey City loan

Kansas Citg, Mo— Renewal

bonds

Funding bonds

1864-’65

1,000

1864-’70
1868-’70
1869
1865
1875-’76

Various

1884
1875 to *81
1873

ous

....

1,000

271,000
250,000
226,500
155,000
500,000
300,000
300,000
300,000
200,000
109,500
984,000

3,329,000
200,000
517,000

5,299,500
125,000
500.000

41,000
900,000
975,000
1,353,000
600,000

1,000.000
....

“

•

•

•

which is
1880,

Des IHoiiies, la.—Assessed value of property $11,500,000,
about 20 per cent of true value.
Population in 1870,12,035: in
22,400: in 1837 (estimated), about 45,000. Sinking fund Sapt,
amounted to $40,000.

1887,

Detroit, Ulicli.—There are also $10,000 House of Correction bonds
due 1803. Assets in sinking fund July 1, 1885, $838,238; net city debt,
$12,201. The population in 1870 was 70,577; in ’80, 118,340; in 1883,
130,000.
The value of waterworks is about
$3,500,000. against
a debt
of $1,451,000 September, 1885.
The water works bonds
are issued on a pledge of the city credit, and $75,000 per year collected
in taxes to
pay interest on them.
Population in 1886 about 175,000.
Valuations (based on true value) and tax rate have been :
Years.

Real Estate.

Personal.

Total.

Tax Rate

$110,721,995
$11-44
$27,928,880
116,249,945
10*77
28,713.300
10-82
133,448,580
33,427,589
100,020,991
Elizabeth*
JuiidbaUcl>ll«
N. J,—Default
iv«
was made in interest February 1, 1879
uoiauj
Suits on bonds are pending.
Old unadjusted bonds and loans are
$2,592,739. Total bonded and Uniting debt July 15 1885, $4,264,640. A proposition to issue 4 per cent bonds at 50 per cent or the face
value of old bonds was made, and a consider idle amount of the
new bonds have been issued.
The Mercantile Trust Company In New
York acts as the agent. Assessed valuations and tax rate per $1,000
have been as follows: In 1882, $12,182,035, rate, $ 120; in 1883, $12,471,115, rate, $26-40; in 1884, $12,341,735, rate, $20-00; in 1885, $12,
465,760, rate $26-40; in 1886, $12,628,710, rate, $27-20. Population
880, 28.229; in 1870, 20,832; estimated in 18-6 to be 32,600. (V. 44,

$82,793,115
87,536,645
•

p. 211.)

Evansville, Ind.—There was default in payment of interest from
In 1887 the old debt was nearly all funded into the several

April, 1883.

issues of bonds above given.
Years.
Roal Estate.

Personalty.

$13,527,090

$6,519,820

13,666,645
6,632,895
17,273.340
—
6.239,810
15.184.693
-(V. 43. p. 607; V. 44, p. 335 ; V. 45, p 112.)




Tax.
$10 On
10 00
16

6623

558,000
100,000
150,000

400,000

....

Debt.

$1651.000
1,651,000

2.145,0:0

do
do
do

do
do
do

July 1, 1912
July 1, 1912
Nov., 1887 to ’92

City Treasury.

J. A J. Boston, Merchants’ Bank
July 1, 1893
do
do
July 1, 1891
J. A J.
do
do
July 1, 1905-1906
J. A J.
1898 A 1903
A. A O. Galveston, City Treasury.
1893-1909
do
M. A S.
1920-1925
New York or Galveston.
J. A D.
1902
J. A J. N. Y., Bank of New York.
1890-1906
Various
City Treasury.
Jan. 1, 1891
Suffolk Bank, Boston.
J. A J.
Jan. 1, 1893
J. A J.
City Treasury.
Jan. 1, 1897
do
J. & J.
10 to 25 years
Town Treasury.
J. A J.
do
J. A J.
$10,000 yearly
do
Jan., 1900
J. A J.
1888 to 1905
Various First Nat. Bank, Hoboken
Oct. 1. 1892
do
do
A. A O.
1892 to 1894
do
do
Various
1890 to 1903
do
do
Various
1898 to 1901
do
do
Various
1902 to 1910
do
do
Various
1887 to 1889
Various
City Treasury.
Oct. 1,1889
do
A. A O.
Jan. 1, 1900
do
J. A J.
do
Jan.AApr.l,
A. A O.
Jan. 1, 1889
Jan.
City Treasury.
Jan. 1, 1897
N. Y., Winslow, L. A Co.
J. A J.
do
do
July 1, 1893
J. A J.
do
do
July 1, 1893
J. A J.
do
do
J. A J.
July 1, 1894
do
do
July 1, 1895
J. A J.
Jan. 1, 1899
do
do
J. A J.
J. A J. N. Y., Merch. Ex. N. Bank. Jan., 1889 to 1909
1899 to 1913
do
do
Various
Feb. 1, 1913
do
do
Julv 1. 1913
do
do
J. A J.
1891-1892-1906
do
do
Various
June 8, 1900
do
do
J. A J.
May 1, 1897
do
do
M. A N.
1889-1890
do
do
Various
1889 A 1900
do
do
Various
do
Jan., ’98 to 1900
do
J. A J.
do
do
July. 1889
J. A J.
1889
do
do
Various
1905-19*
do
do
Various
Demand.
Feb. 1, 1909
F. A A. N. Y., Merch. Ex. Nat. B’k.
1910-1911
do
do
Various
1904
New York. NintlTNat. Bank 1895 to’98 A 1901
do
do
May 1, 1893
.

.

3*2 A 4

119,500
43,750
91,500
636,000
75,000
203,000

l.OOOAo
1,000Ac

Y., Winslow, L. A Co.

May 1, 1908-1909

203,000
159.000

0

N.

to
to
to
to

....

60,000

1,000

1893
1893
1898
1907
Jau. 1, 1912
Jan. 1, 1912
1889
1889
1894
1897

....

6
6

300,000

500 Ac.
500 Ao.

July 1, 1912

Mercantile Trust Co.

1891
do
Various
F. A A.
Aug. 1, 1894
Boston, Revere Bank.
M. A N. Boston, Bank Redemption.
May 1, 1895
do
do
May 1, 1-95
1896-’97-’98
do
do
May 1, 1905
M. A N.
City Treasury.
Bostou. Bank Redemption. Feb. 1, 1900-1909
Nov. 1, 1892-1906
do
do
M. A N.
do
do
F. A A.
Aug. 1, 1899-1905

6
5 g.
5 & 6

1,000.000
1,250,000

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

1879 to ’81
lJ-82 to ’95
1882 to ’93
1882 to ’86
1885 to ’96
1907
1836

do
do
do
do
do
do
Now York.
do
do
do

3^8, 4, 6 Various

887,000

1872
1,000
1871 to ’74 500 Ac.
1870
1,000
1872
1,000

1880-’l

6

500,000

500 Ac.
Various.
1878-’81
1,000
1880-’82
1,000
L871-’74
1874
1,000
1872
1,000
1873
1,000
500
1869 to ’70
1877
1,000
1873
1,000
1874
1,000
1874
1,000
1875
1,000
500
1874
1852 to ’77
1,000
1,000
1869 to ’73

1879

4

417,000

....

1,000
1,000
1,000

Vari

4*2

6
6
6

....

Indianapolis— Bonds to railroads
Bonds to Un. RR. Tr. Stock Yard (mortgage).
Loan bonds, series A
do
do
do

1882

1865-’81

4
5

3?6

100 Ac.
100 Ac.

Jan., 1911
Dec,1916

City Treasury.

Various

7

125,000
500,000
450,000
550,000
200,000

1877-8-9

1899

do
do
do

Aug. 1,1888-1892

Various
J. A J.
T. A J.
J. A J.
J. A J.
J. A J.
J. A J.

4

300,000
100,000
85,000
510,100
818,400

do
do
do

7

5 A 6

1,000
1,000
1,000

N.Y., First National Bank. 1892 to’97, A 1906

Various
Various
Various
Various
A. A O.
J. A D.
M. A N.
J. A J. N. Y.,

261,860

400,000

1864-’79

Hoboken, N. J.—Bonds

1,000
1,000

A.
A.
J.
D.

7
7
7
7
7
7
7
4
7

100,000

1,000

1876
1868
1872
1879-’80
1863

torailroads.10-25

1,000
1,000

&
A
A
A

4

233,000

1873
1871
1875
1883-8
,

3*2
3^

196,000
(?)

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

....

Water loan

F.
F.
J.
J.

due.

pavable and by
whom.

payable

4

764,000
260,000

....

....

Rate.

100,000
30,000
370,000
26,000
850,000
435,000
48,000
41,000

....

Where

When

$191,500 3^,6 A 7

$1,^00

Principal—When

.

outstanding.

Large.
LOOOAc

•

- - -

-

Amount

Size or
par
value.

bonds.

8
5
6
5 & 6
6
6
6

4^
6
6
6 & 7
7
6 A 7

5, 6, 7
5 & 6
5 A 6
3 to 5
6
6
7
6
6

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

7
7
7

5*3
6
5 it 6
6

390,000

6, 7 & S

250,000

8

....

Jan. 1,
in 1870.

Fall River, mass.—''Thesinkingfunusamountedto$861,339
1887.
Population in 1885, 56,363; 43.961 in 1330; 26,766
Valuation in 1385, $43,815,275.

Fitchburg, mass.—Population 12.270 in

183); 11.260 in 1370.

Assessed valuation of real estate (about cash value) in
675; personalty, $3,071,836; tax rate, 18"2 > oer $ 1,000;

$3,320,075; personal, $3,125,313; tax rate, $17-10.
Galveston, Texas.—Assessed value of real and

1386, $3,422,-

in 1337, real,

personal property,

1836, $21,043,509; tax rate per $1,000, $15 00. 1885, valuation, $18, 583,196; tax Tate $15-00. In April, 1882, the Galveston County 10 per
cent bonds, were called in and 6 per cents issued instead.
Population
in 1870, 13,812; in 1830. 22,248; 1836, estimated, 42,000.

Hartford, Conn.—Total city debt, April 1, 1387, $2,734,332; net,
$1,910,172; net town debts, Oct. 1. 1887,
$1,191,346.
Assessed valuation in 1836, $45,700,000; in 1835, $45,898,365. Population, 42,553 in 1880; 37,743 in 1870.
Hoboken, N. J.—The total debt May, 1887, was $1,279,137. As¬
sessed valuations in 1884: Personal, $1,343,941; real estate, $14,672,700; tax rate per $L,000, $23*50; population, 35,000. Assessed v ilna¬
tions in 1886-7 : Personal, $1,414,005 ; real estate, $15,326,709; tax
after deducting resources,

rate, $27-00.

Holyoke, mass.—Bonds all coupon, but can

be registered. Total net
20. Valu¬
21,915 in

debt, $764,500. Valuation, 1885, $16,135,525; tax rate, $17
ation in 1887, $1 S.122,580;'tax rate. $17 00.
Population,
1830; 10,733 in 1870; 33,000 111 1887.

Indianapolis.—The School Board is a distinct organizat’n and levies
own tax ($2 20 for 1884), which is included in tax rates.
There
Population, 75.056
are a few other small issues amounting to $50,000.
in 1880; 8.244 in 1870.
Valuation and tax per $1,000 have been:
its

Years.
1883....

Real Estate.

Personaltv.

Total.

Tax.

$11-20
$53,128,150
$13,792,290
$39,335,860
12-20
54.041,600
13,891,65 J
40,149,950
1884....
Jersey City.—One m the mam causes oj past trouDle in jersey City
finances has been the failure to collect back assessments and the large
amount of railroad property exempt from taxation, hut these matters
are being remedied and RR. property is hearing a share of the taxation.

INVESTORS’

io
Subwcrlberw will confer

a

Kansas

Date of
Bonds.

Lawrence, Mass.—Sewer loan
Funded debt
do
Water loan

'

Long Inland City— General bonds
bonds

81

Louisville, Ky.—Water works
For improvement of streets
For municipal improvement
Re-constructing street
Public buildings and institutions

Mississippi River Railroad bonds.
Endorsement Memphis & Little Rock RR
Compromise bonds, coupon (Flippen)
New compromise bondc
Milwaukee, Wis.— Re-adjustment bonds
General city bonds
do
do
(not liable to be called in)
do

Bridge bonds
Water bonds, coupon
do
registered
do
coupon
Waterworks refunding

Minneapolis, Minn.—City oonds
City bonds
do
($36(1,000 due 1912 are red.
do

Mobile—Funding bonds
Nashville. Term.—Various city bonds

Municipal Bridge bonds

i*8*57
1877
1883
1861
1871
1876
1885-6

1882-’83

.

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

1,000
1,000
Large.

Large.
1,000
1,000
Large.
1,000
Large.
1,000
500 &c.

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

1,000
1,000
1,000

6

-1

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

So
rH

2,400,000

500 &c.

77,500
182,000
98,000
285,000

1,000
1,000

1,000

61,000

321,000
899,000
608,000
255,000
610.500
422,000
2,105,000

5, 6,7
4-4*2
4-4*2

1,095 000

200,000
450,000
550,000

4 to 5
6
5
6
7

580,000

4*s, 5, 7

2,250,000
1,395,600

1,000

Where

i Payable

Principal—When
Payable and by

Due. ‘

Whom.

J.
J.

&

J. New Y >rk, Ninth Nat.Rank
do'
do

5

1,114,000
97,000

lected by the State. Population in 1880, 120,722. against 82,516 in ’70;
In 1885 by the State census population was 155,300. Taxable valua¬
tions and tax rate per $1,000 have been ;
Years.
Real Estate.
Personal Prop.
Tax Rate.

$58,287,892
$4,664,390
$29 40
61,571,512
4,564,683
32 80
1886
61,^94,739
4,985.200
29 40
The value of railro ad property, not included above, is about $25,000,000, which is subject to a tax rate of L per cent for city purposes.
Kansas City,' Mo.-In 1885 assessed valuation was $11,678,520
and tax rate 1-A mills. In 1886 real estate valuation was $36,833,550;
personal, &c , $9,553,240; tax rate per $1,000, $14 00.

Lawrence, Mass.—1Total debt. $1,764,000. Sinking funds. $325,534.

Tax valuation in ’85, $27,144,050; tax rate, 16*60; in ’86, $27,165,590;
tax late, 10*40.
Pop., in 1884 45,000; 39.151 in ’^0: 28.921 in ’70.
juong Island City.—The interest on $514,500 of the general bonds
Is payable from taxation, and on $397,000 from water rents.
The tax
or revenue bonds issued iu each year are chargeable on the uncollected
tdxes and water routs of a previous year. Thp issessod valuation iu
1885 was $7,299,170 on real estate and only $37,500 on personal
property; the rate of tax was $10 40 per $1,090. For state purpose's
the valuation was increased to $10,009,000.
Real valuation about

Population. 25,( 00.

Louisville.—Tlie funded debt, Jan. 1, 1887. exclusive of loans paya¬
ble uy railroads, was $9,352,000, against $9,616,000 Jan. 1, 1886. The
sinking funds on Jan, i, 1887, amounted to $4,373,831. Population by
Census of 1870 was 100.753, against 123,758 in 1880. The following
figures give the assessed property valuation: 1881, $68,753,770; 1882,

$70,029,724, of which $52,269,684 was realty.
In 1883 valuation
$66,118,534. tax r-te per $ 1,000, $21 00, in 1884, $63,0*27,077, tax
rate, $21 00; in t 885, $62,703,461, tax rate $24 80; in 1886, valuation,
$64,405,515; tax rate, $20 40.
Lowell, Iff ass.—All the notes held by savings banks. Total debt
Deo. 31, 1886. $<,161,400, of which $1,837.0 *0 was on account of
waterworks; sinking funds, $887,269, $517.991 being for water loans.
Population 59,475 in 1880; 40,928 in 1870; 75,000 iu 1884. Assessed

232,000

-

4*2

100.000

5
4
4
3 *2 & 6
5
6
7
4

13 *.000

3*2-6

126,000
158,000
363,000
100,000

340,000
150,000

1895
1850 &’97
1905

*&"j.

J.

J.

& J.

July, 1904
1887 to 1894
1891-95
Oct. 1. ’60. to 1906
in

1896-1897
1923

July 1, 1903
1891, ’92 & 1903
1889

July, 1898
June, 1901
1888 A 1903
1888 to 1898
Oct. 1, 1898
1889
1894 A 1901
1911

May 1, 1920
Sept., 1891
July, 1901 A 1903
1893
1887 to 1894
1891 and 1892
Nov. 1, 1892
18*57 to 1903

Dec,,1887 to 1911
1890
10 peret. annually
10 per ct annually
1890
1890-1917
185*0-1897

188‘-1893
Nov., 1887-1906
1888 to 1911

July 1, 1890 &’95
1892-’97-190?-’07

July 1, 1911
1873 to 1902
1873 to 1900

M. & N.
J.
J.

Nov., 1900

*&

J.
& J.

J. A D.
J. & J.
& D.
A J.
A J.
& J.
& J.
J. A J.
J. A J.
Various
Various
Various
Various
J. A J.
Various
A. A O.

Various

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

A.
A.
A.
A.
A.

&
&
A
A
&
A. A

instalments.

1889 to 1903
1839-1897

Memphis.

Charleston, 8. C.

July. 1872

N. Y., Nat. Park Bank.
do
do
Mil.& N. Y., Morton B. & Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do *
do
New York, Nat. Park Bank.
do
do
do
do
do
do
New York and Mobile.
New York and Nashville.
N. Y., Chemical Nat. Bauk.
do
do

1907
1913
June 1, 1891
Jan. 1. 1901
June 1. 1896

Newark, City Treasury.
do

do

do
do
do

do
do
do

7
J. ’& J. Newark, Nat. State Bank.
400,000
5 & 6
Various
1,200,000
do
do
do
2,450,000 4,4*2 to 7 M. A 8.
do
7
3,497,000
Various
do
do
7
F. A A.
do
476,000
do

Collections in 1886 were better than in 1865 by about $150,000, and
the eitj* also received $2-0.000 from taxes on railroad property col¬




I When

& J.
Lawrence or Boston,
Various
Boston, Tremont Bank.
J. & D.
150,000
Lawrence, Mass,
A.
O.
do
1,300,000
do ’
Various
N. Y. City & L. I. Ci-y.
911.500
Various
438.500
do
do
Various
N. Y., Bank of America.
698,000
Various
190,000
Louisville.
J. & J.
New York City.
1,500,000
J. & J.
N. Y., Bank of America,
600,000
Various
519,000
do
do
Various New York, U. 8. Nat. Bank
17,000
J. & J. Louisville, City Treasurer
81,000
J. & D.
N. Y., Bank of America
423,000
l.t>9 2,000
Various
do
do
Various Louisville and New York,
159,000
A. <fc O.
do
133,000
do
ft 4,000
J. A D.
do
do
7
Various
do
513,000
do
5
N. Y., N.V. Bk. of Republic.
500,000
5
M. «fe N.
N. Y., Bank of America.
1,000.000
7
N. Y., U. 8. Nat. Bank.
M. & 8.
481,000
7
J. & J. N. Y., Continental Nat. Bk.
350,000
6
Various New York and Louisville.
333,000
469,300 4 to 6k) Various
City Treasury.
4
M. & N
Boston,
200,000
4
M. <fe N.
do
120,000
4
Various
do
382.500
537,000 3'a to 60 in Various
City Treasury.
6
M. A N.
1,300.000
Boston.
4
176.500
Various
City Treasury,
4
Various
do
77,000
6
Various
100/100
City Treasury.
1,219,000 3 *2 to 6 J. A J.
Boston, Bank Republic,
5 & 6
595.000
Various
do
do
3bj
&
4
Various
57,000
CityTreas’ry & Bk. Repub.
do
246,000 3 8i & 4 Various
do
4 & 6
Various
310,000
City Treasury A Boston.
6
J. & J.
Suffolk Bank, Boston.
200,000
4 & 6
J. & J.
400,000
City Treasury,
4
J. & J.
do
60,000

459.000

1,000

Public school bonds
1868 to ’86
1,000
Clinton Hill bonds, coup. & reg. (8. fd. 3 p. c.).
1875
1,000
Corpora te bonds, coup, or reg.(act Apr. 21/76) 1878-’80
1,000
Bewer and improvement bonds (local liens).
’71-’79-’-6
1,000
Aqueduct Board bonds($2,490,000due in ’92) 1867-’86
1,000
Tax arrearage bonds
l877-’78
1,000
do
do
1879 to’85
1,000
do
1886
do
1885
Funded debt bon Is
1886
Annexation bonds, reg
1,000
1886
City tax
1875-87
Various.
New Bedford, Mass.—City improve, (part s. f.).
1876
Water bouds
1,000
1867 to ’76
do
1,000
do
1872-’74
1,000
1884
do
5,000
1881 ’*<7
1 .OOP
Bewer nnrl RH4go bonds (part sinking fund)..
.

8
7
5
4
6
4
6
6 & 7
5 & 6
6
6
4
7
7
8
6
7
7
6
6
6

248,000
60,000
300,000

500 &c.

1872
1,000
1872
10,000
1883-’86 ’7
1883-’84
l’ooo
1870 to ’75
1871 to’81
1902). 1881 to ’85
1,000
l886-’87 !
1,000
1881
500
I
c" 1870 to’81 100 &c.
1885
1,000
c*

Waterworks($50,000 due yearly after 1907)c*
Newark—War bds.,tlout’g debt, <tee. (s.fd. of ’64)

$25,000.00*».

Rate.

$142,500

1885
1884
$500<tec
1862 to ’75 5000&C.
1881 to ‘85 10,000
1873-’75
500 <fcc
Various.
Various,
1883-’86
500
1859 to’67
1,000
1866 to ’67
1,000
1883
500 &c
1873
1,000
1871 to ’73
1,000
to
1853
’69
1,000
1868
1,000
1871
1,000
1868 & ’73
1,000

Public school and school houses
Sewer bonds
do
Elizabeth <fe P. Railroad
Wharf property
’54/62,3,8
1869
Jail bords
For old liabilities
1871 to’74
do
do
1868
do
do
1886
do
do
1880
(half are 10-40 and half 20-40)
1871
Louisville, New Albany & St. L. Air Line RR
Road bed, Louisv. ,Cin. & Lex. RR
1871 to ’73
City bonds payable by Louisv. & Nash. RR... 1851 to’63
Lowell, Mass.—City notes (various purposes)... 1862 to’84
1882
Bridge notes
1882
Bridge bonds
Sewer bonds
1882 & ’83
Water notes
1871 to’85
Water bonds
1870
Sewer notes
1883 & 84
1883
Bridge notes
1870-’3-’5
Lynn, Mass— Water notes
Water bonds
Various
Funded debt
Various
SchooLHouses
Various
1884
Engin^fbuse and sewer bonds
1869-’85
Manchester^A". H.—City bonds
floater bonds ($100,000 each year)
1872-’74
do
do
do
1872-’74
1881
Bridge bonds
1867 to’68
Memphis, Tenn —School and paving bonds
Post bonds
1867, ’8, ’9
1870
Funding loan, gold

do

outstanding.

1875

Railroad bonds
School bonds

or revenue

INTEREST.

Amount

-

Floating debt bonds

Tax

Size or
par
Value.

notes on first page of tables

City, Mo.—(Continued.)

|Vol. XLV.

great favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.
For explanations see

SUPP LEMEN T

O.
O.
O.
O.
O.

July 1,1905&1906
July 1, 190z
Jan. 1, 1902
•Tau. 1,190*2
1903 & .1906-’07
1903-1904
1888-1905
1893-19021906 to 1915
1916 A 1917
Jan. 1, 1906
1887 to 1903
Oct. 1. 1905
1907-1915
1891 A 1896
1887 to 1892
Jul v 1, 1895
1909 & 1910
1893 A 1906-’09
189’to 1909
1887 & 1888

1889-95

July 1. 1896
1895
1906
1906
1891 to 1910

City Treasury.
do
do
do
do
do

<>.

1900
1888
1888
Get.
1H3S

to

1904

to 1909
to 1909
1, 1894
to 1906

valuation; in *887, real estate, $41,322,791; personal, $15,426,159
tax ra e, $ 5 70.
'
Lynn, Mass.—Valuation 1887, real estate, $24,491,lib; personal,
$6 279,206; tax rate, $18*80; In 188 t, $27,548,581; tax rate, $18*40.
Population. 28.233 in 1870: about 15,000 iu 1883.
Manchester, IV. H.—Valuation In 1845, $21,137,101; tax rate,
$17 50 per $1,000.
Valuation in 1887, $21,90 >,476; tax rate. $17.
The net proceeds from the waterworks more than moots the annual
interest

charge

Population, 32,630 iu 1880; 23,536 in 1870.

Memphis., Tenn.—The city

was

in default for iuterest after .Tan. 1,

1873. The Legislature passed a bill, January, 1879, repealing the city’s
charter, and the “ Taxing District of Shelby County” was organized.
Under the act of Tenn. March 3. 1833. new compromise bonds arc issued,
per cent till 1889, and 6 der cent thereafter.
The total debt
when funded will be nearly $3,000,000.
In 1881 valuation of real and

bearing 4

personal property, $13,499,325: tax rate, $23 50. Population in 1870,
10,226; in 1880, 33.592; in 1334, 62,335.
Milwaukee. Wis.—The city cannot issue debt beyond 5 per ct. of its
average assesseu valuation of real and personal property for five years. In
1884 valuation was $74,951.750; in 1335 real estate, $61,41 >,9 21 and per¬
sonal, $17,415,415; in 1836, $3*2,641,743. Sinking funds are provided,
and ail old issues except the goner il bonds due 1896 may be called in
and paid bv sinking fund; holders were misled as this was not stated

Population, 71,110 in 1370; in 1885 (estimate l). LOO.000.
Minneapolis, Minn.—Total debt March 1, ’87, $3,739,000; sinking

in the bonds.

fund. $232,738; rax valuation in 1886-87, $33,008,956 real estate and
$16,532,906 person d—total, $99,591,762; tax rate, $L7 1 * to 819 00
in 18*5, $77,500,000; in 1884, $74,308,711: tax rate 1835, $20 00.
Population,46,337 in 1880: 160,000 (estimated) in 133<
Mobile.—Valuation oi real and personal property in 1383. $15,350,7.33; in 1831,$13,573,347. in 1985, $13,763,822. Population 35,000 in
.

1995: 3l.2‘»7 in 1330; 3*2.034 in 1370.

Nashville, Tenn.—Total bonded indebtedness Sept., 1337. was
.

$2,070,000; assessed valuation of all property m 1887 was 8*27,214,459;
fax rate per $1,000, $15; in 1331 valuation was $15,249,575.
Popula¬
tion, 43,350 in ’30 ; 25,865 in 1870.
Newark.—The bonds in the first line in the table are payable out of

CITY

November, 1887.]

11

SECURITIES.

Subscribers will confer a great favor by glvlug in mediate notice ol any error

discovered In these Tables,

INTEREST.
Date of
Bonds.

DESCRIPTION.
For explanations see

notes on lirst page of tables.

Size

or

par
Value.

Principal—When

Amount

|

When

outstanding.

Where

payable j

due.

payable and by
Whom.

!

I
Sew Brunswick, N. J.—
let & 2d inert, water works bonds
Water b’ds. of ’64,’73,’74 ($10,000 only are

Us)

Citvimprovement bonds
Sinking fund bonds

do"

do

do
do

■

1*67-69
1864-1374
1*73
1881-02
1882-S5

1885-86

$....

do

do

178,500
47,500
47,000
52,000

500
500
500

Commissioners of streets and sewers
1871
Sew Haven, Conn—Sewerage
1877
City bonds (10-20 bonds)
1883
Sewerage bds. (pay’le $L5,000 y’rly from ’95).
1854 to ’84
Sew Orleans—Consolidated debt

$180,000

1,000
1,000
1,000

1,000
1,000
Consolidated debt, extended
1883
Ten year certificates to fund coupons
1,000
Railroad debt (all extended except $28,000).. 1854-75
1869
Seven per cent funding loan of 1869
1870
Seven per cent funding loan of 1870
1857
Jefferson City (debtassumed) extend’d
1875
Premium bonds (in exchange)
1869
Water Works ($70,400 extended)
1857 to ’73
Other old bonds ($305,500 extended)
1867 to’ri6 l.ooo&c
Sewlon, Mass.—City bonds and notes
100
1869-’70
New Yorh— Accumulated debt bonds, city
100
1869-’70
Accumulated debt bonds, county
500
1884
Armory bonds
I.

109,500
484,100
369,000
499,000
150,000

150,000
1,651,000
2,649,900

2,127,360
397,000

567,750
375,750

41,500
7,504,820
82,400

218356.781
Assessment bonds

Assessment fund stock
Additional new Croton Aqueduct
Croton water stock
Additional Croton water stock

stock

Additional water stock, red’m’ble after 1913.
Additional Water stock

Croton water main stock
Croton Reservoir bonds

Central Park fund stock
do

do

City Cemetery stock
City improvement stock

(cons., $687,803 red. aft.’96)
City impr. stock (cons, st’k), cp., exeli. for reg.
do

do

City Lunatic Asylum stock
•City parks improvement fund stock

Consolidated stock, county, coup., ex. for reg.

do
city,
do
do
dock bonds
do
do
city pks. impr. fd. st’k, do..
do
red. aft. 1908. cp. ex. for rg.
do
city, coupon exeli. for reg..
do
city, (A)
do
county (A A B)
do
city (B & C)
do
city (D E A F>
do
city
K L & M)
do
city
do
consol, st’k (Riker’s Isl’d)..
do
(Harlem Rive Bridge).. ..
Dock bonds
Consol, stock (Metropolitan Museum of Art)..
Fire Department stock
Gansevoort Market cons, stock, rev. bonds...
Market stock
Museums of Art and Natural History stock.
N. Y. City bds.for const.of bridge ov.HarlemR.
N. Y. Bridge bonds
do do i onsol. stock, redeem, after ’96
do do $500,0U0af.'96,$1,421,900 af 1900.
do do $750,000 at 1903, $416,666 af. 1905.
Ninth District Courthouse bonds
Normal school fuud stock
N. Y. Co. Courthouse st’k, Nos. 1, 3, 4 & 5 —
New York County repairs to buildings stock..
N. Y. and Westchester Co. improvement bonds
Public school building fuud stock
School House bonds
Street improvement bonds
8oldiers’ bouuty fuud bonds
do
do
No. 3
Soldiers’ bounty fund red.bonds,No. 2
Tax relief bonds, No. 2, coup. exch. for reg—
Third District Court-house bonds
Water stock of 1870
Debt of annexed territory of Westchester Co.
..

C(*is.stock, Improvement

Morningside Park..

1884 to’87
1868 to’83
1872 to’77
1847 to ’52
1871 to’87
1883 to’34
1885-7
1871 to’81
1866
1856 to ’58
1865 to ’71
1869
1869 to ’78
1876 to ’80
1874
1869 to’70
1871 to’80
1871 & ’72
1871 & ’72
187L
1872
1878
1874-’75
1872 to ’74!
1874
1874
1876-’77
1877 to ’84
1880
1884
1886
1870 to’84
1884
1869-’70
1887
1867 to’69
1873 to’81
1879 to ’84
1869 to’75
1876
1876 to’80
1880 to ’83
1871
1871 A ’72
1862 to ’82
1870
1871
1871 to’74
1384-’85
1869 & ’70
1864
1865
1865
1870
1874 to ’77
1872
1887

500
500
500
100
500
500
500
500
100
100
100
100
500
500
500
100
500
500
500
500
500
500
500

500

500
500
500
500
500
500
500
500
500
100
500
100
500
500
100
500
500
500
500
500
100
500
500

378,100
415,200

5 & 6
321,400
5,759,000 3*2 to 6, 7
445.000
3, 3*2
3, 3*2
15,447.000
5,196,000 4,5, 6 A 7

1,766,600
75,000

6
5 & 6
6
7

7,977.515

5,6 & 7

701,419

5 & 6

820.000

6 g.
6 & 7

700,000

4,799,000
8,885,500
4,252,500

5, 6 & 7

1,000,000
862,000

6,900,000
1,564,000
2,455,000
1,630.200
6,324,700
1,858,349
941,135

6

5

4

2,800,000
180,000

1,300,000
11,553,000
25,000
521,953
170,000
296,000
958,000
499,500

3

6

500,00C

1,921.900
1,166,6' 6
300,000
200,000

6 g.
6 g.
6 g.
6 g.
5 g.
6 g.
& 7
7
7
& 6
& 5
4
3
3
to 7
3
6
3
& 7

4, 5 A 6

3,4 & 5
6

1,500,090

6
5
4 A 5
7
6

1,496,000 4,5,6 A7
6
20,600
30,000
636.000

500

500
100
100
100
100
500
500
500
500
500

....

1,300,000
1,200,000
1,172,000
3,368,000
1,393,950 4,5,6 & 7
1,331.300 5, 6 & 7

20,000
674.300

802,845
606,900

2,009,000
745,890
376,600
3,000,000
398,000
475,000

690,900
50,t>03

N.j

1892-1904
M. A
N. Y., Ninth Nat. Bank.
1887-1900
M. & N.! V Bruus’k Nat. Bank, N. J.
1887-92
do
J. A J.i
do
Sept. 1, 1991-1902
M. A S.|
1902-1 <03
do
F MA S !
1995-1906
di
6
J. & J.
1894-1898
do
M. & N.
7
1898-1906
do
M. & N.
6
Oct. 1. ’91A1901
A. A O.
7
City Treasurer.
do
July 2, 1887-’97
j. & J.!
5
1895 to 1904
do
F. & A. I
3**
1892 to 1934
New Orleans.
5, 6, 7 J. A J.i
1892 to 1923
do
J. & J.
6
Jan. 1. 1893
do
J. & J.
6
1894 to 1923
do
Various
6
1894 A 1922
do
M. & S.
6 & 7
1895 A 1922
do
J. & D.
6 & 7
1922 A 1923
do
6
Various
When drawn.
do
5
1899 A 1923
do
J. A J
5 & 6
1892 to 1923
do
6 to 10
1887 to 1914
City Treasury.
3*2 to 6*3 Various
Nov., 1888
M. & N.
7
Nov., 1888
M. & N.
7
Aug. 15. ’94,1904
M. & N.
3
Nov. 1.1889 to ’92
M. A N.
3, 3ifl
1903 A 1910
M. A N.
7
6 & 7
7
5
6

6
6
3
6
6
7
7
7
5 & 6
6 47
7
3
-

O

M. & N.
M.
A.
A.
M.

&
A
4
&

Pi

N.
O.
O.
N.

0
©

Nov.

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

July 1, 1898
1895
Aug. 1, 1888
Nov. 1,1889A ’92
June 1,

N.l
N.
N.
N
N
N
J.
J.
J.
J.
N.
N.
N.
D.
D.
N.
N.
N.
N.
N.
N.
N.
N.
N.
N.
N.
N.
N.
N.

1,1900-1906

Aug. 1, 1907

©5

Q.-F. j
Q.-F.
Q.-F.

M.
M.
M.
M.

Aug. 1, 1900
Fob. 1, 1890
1891, ’99 A 1904
Oot. 1, 1933
Oet.l, 1904, *5A 7

0

Q.-F.

1900 A 1926
Nov. 1, 1896

©2

Aug. 1, 1889

4->

CH

1901-1904

O

July 1. 1901
July 1.1901
July 1, L901
Jan. 1, 1902
Nov. 1, 1896
Nov. 1, 1928

.A

aP*

M

«

Nov. 1,1894
Deo. 1, 1896
Dec. 1, 1896

a*

Its

May 1,1916, A20

0

1

Nov.
S3
O

Nov. 1, 1906 A ’7
Nov. 1,1901-1917
Nov. 1,1905
Nov. 1,1899
Nov. 1, 1907 A ’3

cc

%

& 0*

a ®

May 1,1894 A’97
May 1, 1903
Nov. 1,1891
Nov. 1, 1905
May 1, 1926
May 1, 1926
May 1, 1928
Nov. 1,1890

M rH

o'g

Q.-F.

W

M. & N.
M. & N.
M. & N.
M. A N.
M A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
Various
M. A N.

1/89, ’97’99

Aug., 1894
Nov. 1, 1910

O

03>H

Nov.

©4-1

1,1891

Nov. 1, 1888-'98
Nov. 1, 1888
Dec. 1, 1891
Nov. 1,1891

a®

*A

Aug. 15, 1894
Nov. 1, 1888

Nov., l888-’90

©

<8
a

1

l

Nov. 1,1895-’97
Nov. 1,1891
Nov. 1,1890
Nov. 1,1890
Nov. 1,1902
1888 to 2147
Nor. 1, 1908

the sinking fund of 1864, which amounted Dec. 31, 1886, to $550,471; in’85, $123,929,268; tax rate $25*40; in ’86, $127,7 5.353, tax rate
20; in 1836-7, $; 25,096,250. tax rate $20 20. A scheme for settling
public school bonds out of public school fund, $488,265: Clinton Hill $20
bonds b3' sinkimr fund $263,560. The total amount in the sinking funds the debt by a bond premium drawing plan is in practice, aud drawings
take
on Dec. 31, 1886, was $2,622,063.
place Jan.31, Apr. 15, July 31 aud Oct. 15 Popul’u in ’-<0, 216.090.
The Aqueduct bonds are not a direct
liability of the city of Newark. Real and personal property have beeu
Newton^ mass.—Sinking funds, Jan. 1, ’87, $237 973. In 1884
assessed at about two-thirds of true value as follows : 1884. real estate,
valuation $27,»14.561: tax rate per $1,000. $14*40.
Valuation in 1886
$72,456,775; personal, $18,524,775: tax rate per $1,000. $20 30; 1885, $ 11,016,930; tax rate, $14 40 per $1 009. Valuation in 1837, $32,293,real estate, $74,189,110; personal, $18,730,160; tax rare, $19 30. Popu¬ 657; tax rate, $15*80. Popula. 19,759 iu’85; 16,991 in’30. 12,325 in ’70.
lation in 1870, 105,059, against 136,508 in 1880, and 155,000 in 1835.
New York City —The total debt of New York, January 1.1337. was
New Bedford, mass.—Population, 35,000 in 1886; 21,320 in $125,982,736; the amount of sinking funds, $41,205,470. Tiie follow¬
1870. As.M-sscd valuations in 18 -6 were $16,7 8,900 real estate and ing statement shows the details of funded debt aud the amount in the
$15,4l6,0e6 personalty; tax rate, $16 per $l,000.
city sinking fuud at the dates named:
New Brunswick, N. J.—There are also $50 600 7s and $14.90)
Jan. 1, 1887
Description.
Jan. 1, 1885.
Jan. 1, 1886.
$126,371,138
$125,475,240
$12 >,932,736
5s, due 18s8. The fiscal year ends March 3
On M »rch 31. 1887, the Total funded debt
valuation of real estate taxable was $4,062,455 ; personal. $1,325,85d; Sinking fuud
34,823,735
36,113,814
41,205,470
tax rate, $4*14 per $1,00 *.
The assessed
third of the true value of real property.

valuations are only about ono
The siuking funds March 31,
1887, amounted to $102,590. The city finances are now under able and
conservative man igement, and the actual net debt is decreasing.
On
April.l the statement was as follows for three years; In 1885, net debt
less cash and sinking funds, $1,561,100; in 188.1, $1,526,134 ; in 1887,
$1,508,882.
New Haven, Conn.—Bond funds, $134,784.
The city made a
special loan of $75,o00 to the New Haven A Derby RR., and guaranteed
$225,000 <>f its 2d mort. bonds. Popula. in 1870, 50,840; in 1880, 62,b82.
Assessed valuat’n (about 80 percent of value), tax rate per $1,000, Ac.,
have been:
Real Estate.
1884. ...$36,293,114

Years.

Skg.Fds.Ac
$714,000
42,(100,009
16.000,000
11 00
*18,000 $114,078
43.500,000
17,500,000
11 00
799,000
134,734
New Orleans.-Total debt June 30,
1887, was $16,862,034
in June,
lbV2, a law was passed
to issue
cent
new 6 per
40 year bonds for all old bonds other than
premiums; the extended
bonds run till
1923, but are redeemable after 1395. Certificates were
issued for overdue
coupons to Jan. 1, 1883, and though made for ten
years the certificates are payable at option.
The assessed valuation of
property, real A pers’al, in ’84, $114,581,744; tax rat© per $1,000, $-0-00;




Personaltv.

$14,271,224

Rate of Tax. Tot. D’bt.

$ L l 00

Net funded debt.....
Revenue bonds

Total net debt

$92,047,403
2,358,825

$89,361,426
3,670,525

$34,777,266
5,613,368

$91,406,228

$93,031,951

$90,395,634

9 42,292
ation.rate

The population of New York, by the U. S. Census, in 1870 was
,
and 1,206,299 in ’80. Jan. 1, ’65, and since Jan.,’72, the val
of taxation, and net funded debt at end of_year have been as follows:
«ei JLmui,
Tax p $ 1,000
P eraonal
R-al
Deo. 31 *
Statr. City.
Estate.
Years.
Estate.
34 86 $24 04
$3 5,973,597
1865
$427,360,384 $181,423,471
95,407.154
5 *20 23 81
306,949,422
797,143,665
6 65
21 35
114,979 970
272,481,181
18741....
881,547,995
7 27 22 13
116,773,721
217,300,154
883,643,5 45
6 51
2149
119,81 ’,310
218,626,178
892,423.165
3 78 22 72
117,700,742
206,028,160
895,063,933
3 56
21 94
113.418,403
197,532,075
900,855,700
109.425,414
3 43 22 37
175,934,955
1870
91s, 13. ,330
106,066,240
3 12 22 13
201,194,037
1880
942,571,690
3 60 22 60
102,618,301
209,212,899
1831
976.735.199
>—22 50—"
109,383,483
198,272,582
18-2.... ..1,035,203,816
22 90
95,529,909
197,546,495
1883
1.079,130,669
*
t Annexed t vne included.
Less sinking fund

SUPPLEMENT.

INVESTORS’

12

Subscribers will confer a great favor

LVol. XLV.

by giving immediate notice of any error discovered In theie Tables.
INTEREST.

Date of
Bonds.

For

outstanding.

1870-’84

$100

$860,200

188l-’86

100
100
500
100

660,000
290,800
37.500

explanations see notes on first page of tables.

Norfolk, Va.— Coupon bonds
Coupon bonds of 1881

1872-’73
paving, coup
1887
Coupon oonds
1871
Coupon bds., water (a rnort. on water works)..
1877
Norwich, Conn.—Sinking fund bonds of 1877...
1868 A ’80
Water loan ($150,000, 1898)
Trust and

1875
1878
1883
1859-’86
1871
1869-’82

Court House

Sinking fd bds of 1878 ($100,000 water loan).
Funding
Paterson,N.J.—School bds ($6,000 are 4 *28, AAO)
Funded debt bonds
Sewer b’ds ($130,000areM. AS. A$90,5005s).
War bounty bonds
Renewal bonds, “B,” “C,” “D,” “E” and “F”.

546688113-457

Philadelphia— Consolidated city loan
Bonds for railroad stock subsidy subscript’ns

for water works
for bridges
for park and Centennial
do
for war and bounty purposes
do
do
municipal, school, sewer, &c
Guaranteed debt, gas loans
Four per cent loan (“H” to “ Y”)
Peoria. Ills.—School loan
War loan
Water loan
Peoria & Rock Island Railroad
Pittsburg—Water exten. loan Icoup. or reg.)....
Water loan, reg
Funded debt and other municipal bonds
do
do

1864-’65

.

1877-’86
1855
1855 to ’71
1859 to ’70
1868 to ’70
1862 to 65
1860 to ’70

1879

.

do
do
Notes and certificates of

500
500
500
500
500
50 Ac.
50 &c.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
25 &c.

1369
1871
1872

—

100
25
500
100
100
100

200,000
164,000
150,000
125.000

61,000
70.000

393.500
291.500
251,000
2,217,220
564.500

6.401.800
3,836,000
8,403,200
11,706,500
16,241,100
3.500.500
6.498.800
53.500
42,000
450,000

&c.
Ac.
Ac.
Ac.
Ac
Ac,

300,000

1,226,525
2,178,698
1,480,000
3,739,100
541,000

1,000

416,000
1,200,000

1,000
500 Ac.

851,000

1,000

727,000

lOOOAe.
lOOOAe.
lOOOAe.
lOOOAe.

1,000
£100
lOOOAe.

Large.
1,000
Various

300,000
2,028,000
1,972,000
1,500,000
483,000
1,397.250
600,000
596,000
500,000
31,938
2,63.8,858
1,179,700

1,178,000
lOOOAe.
Various

276,000
132,000
750,000
585,000

1000&C.

3,182,000

1,000

410,000
100,000
150,000

1,000
5,000

5,000

615,150

Ac,
Ac.
Ac.

52,600

59.500
54,100

Ac.

105,852

deposits

St.Louis—Renewal bonds ($l00,000only are7s.) 1863 to’79 Various
1880
Renewal bonds
do
1882-83-85

4,566,000
1,014,000

1837
do
1858 to ’75 Various
General purposes
1868
Tower Grove Park bonds (gold)
1,000
1858 to’75
1,000
Sewer oonds ($336,000 are gold bonds)
New water work bonds (gold)
'. 1870 to’72 1,000
1874
Refunding water pipe, special tax, gold
1858-74
Floating debt ($900,OOo are gold)
1875
1,000
Real estate ($50,000 are gold an 1 $25,000 5s)
500
1872
Bridge approachbouds (gold)
1885
Bonds for St. L. Gas Light Co., judgin’t.iJ or $
1,000
1868
1,000
St. Louis County bonds—County Jail
1.000
1872
do
do
General purposes, gold
1875
do
do
Park bonds, coup.,[gold
1,000
1881
8t. Joseph, Mo.—Funding bonds
1833
Funding bonds

4,415.000

913,o00

642,000
340,000

1,086,000
1,700,000

l‘,600

Real
Estate.

Years.

$1,119,761,597
1,168,443,137

6
5
8
5
5 A 8
5
5 A 6
7
5
4

800.000

1,830,000
465,000
461,000
950,000
500,000
600,000

1,900,000
811,550
902,000

Personal
Estate.

Tax p $1,000
State A City

Net Debt,
Dee. 31*

$218,536,746
202.673.866

$22 50
24 00

$94,406,228
93,031,951
90,395,034

22 60
1,203,941,065
217,027.221
1,254,491,849
253,148,814
21 60
Less sinking fund.
The Legislature passed a law in 1885 that the indebtedness should
not exceed 10 per cent of the assessed value of real estate, and this 10
per cent was construed by the Court of Common Pleas (General Term)
to Include the bonds in the. sinking fund as apart of the debt.
(V. 43, p.
41; V. 44, p. 204 ; V. 45, p. 86, 541.)
*

When

Pay’ble

Where

Payable and by

Principal—When
Due.

Whom.

Various

Norfolk and Baltimore,

A. AO.
A. A O.
M. A S.

dodo
do
do
Norfolk.
New York and Norfolk.

1894 to 1914
1911, 1916

Apr.. ’92, July,’93
Sept. 1. 1917
M. AN.
1901,1914 A1915
A. AO Boston, Nat. Bkof Republic
April 1. 1907

Various Norwich, Thames Nat. B’k
1898 A1910
do
do
Jan. 1,1905
J. A J.
A. AO.
do
do
April 1, 1908
A. AO.
Oct. 1, 1913
do
do
J.
AD.
1887-1904
4*2 A 7
City Hall, by Treasurer,
do
do
J. AD.
1887 to 1900
7
do
1887-1902
do
5,6,7 Various
J. A D.
do
do
1887 to 1900
7
do
do
1901-1907
4,4*2 A 6 Various
1887 to 1906
6
J. A J. Philadelphia, by Treasurer.
6
J. A J.
do
do
6
J. A J.
do
do
> 1887 to 1903
J. A J.
do
do
6
J. A J.
do
6
do
1887 to 1905
do
J. A J.
do
6
J. A J.
do
do
6
1899 to 1905
do
6
J. A J.
do
1887 to 1904
do
do
4
Various N. Y., Mercantile Nat. Bk. Nov.1,’87 to 1898
7
Mar. 1, 1902A’03
M. A N.
do
do
4h
do
do
1888-’89-1901
5, 6 g., 7 Various
New York.
7
J. A J.
July 1, 1888
1893 to ’98
A. A O. Phila., Townsend, W. A Co.
7
1908
do
6
J. A J.
do
1893 to 1912
Various Pittsburg and New York.
6 A 7
1913
J. A J. New York, B’k of America.
4 A 5
1912-1913
5
Pittsb’rg and Philadelphia.
Dee. 1,1915
4
J. A D.
Pittsburg, Treasurer.
6
M. A N. Bos., MaverickN.Bk.orPtld Nov., 1887, ’88
do
do
6
J. A J.
July 1, 1897
do
M. A S.
do
6
Sept. 1, 1907
1887 to 1897
m’ntlilv
Boston and Portland.
6
4
J. A J.
July 1, 1912
J. A J.
Providence.
5
Jan., 1893
A
J.
5 A 6 g. J.
Boston, Prov. and London.
July, 1900
5 A 6 g. J. A J. N. Y., N. City Bank, A Prov.
July, 1900
do
5 g. J. A J.
do
July 1, 1906
N. Y., Boat, or London.
3*3 f M. A S.
Sept. 1, 1916
5 g- J. A J. London, Morton, Rose A Co
July 1, 1895
June 1. 1899
J. A D.
Providence,
4^
do
J. A J.
5
July 1,’99 A 1900
1892
do
J. A J.
7
Various
Boston and Providence.
4*2
May 1, 1888-89
J. A J., 1887-1914
6
J. A J.
Richmond, Treasurer,
1904-1911
do
do
8
J. A J.
do
do
5
J. A J.
July, 1914-’20
1920
4
1888 to 1903
N. Y., Union Trust Co.
J. AJ.
7
Feb. 1. 1893
7 F. A A. New York and Rochester,
1887 to 1902
Various
do
do
7
Jan. 1, 1903
J. A J.
N. Y., Union Trust Co.
7
Jan. 1, 1905
do
J. A J.
7
4
F. A A.
do
Aug. 1. 1912
do
j: A J.
3
1890, redeem.’87
1887 to 1911
4 A 5
8emi-an
City Treasury,
do
1888 to 1899
6
J. A J.
1891
do
F A A.
6
1902
do
M. A 8.
6
On call.
do'
3-65
1888 to ’99
6 A 7
Various N.Y., Bk. Repub. A Bk.Com.
1900
N. Y., Nat. Bk. of Commerce
5
1902-’03-’05
do
4
do
1907
do
do
3*2
Various N.Y., Bk. Com. A Bk.Repub. May, 1888 to 1906
6
6 g. F. A A. N. Y., Nat. Bk. of Republic.
Aug., 1898
1888 to ’95
6 A 6 g. Various N.Y., Nat. Bk. of Commerce
18s0 A 1892
6 g. Various New York and St. Louis,
do
do
0 g. M. A N.
July 1, 1894
1888 and 1894
New York or London,
1895
M. A* N.
do
do
Dec, 10, 1892
T. A D. N. Y., Nat. B’k Commerce.
June 1, 1905
New York and London.
J. A D.
M. A S. N. Y., Nat. B’k Commerce,
7
Sept, 1, 1888
do
do
6 g. J. A D.
June, 1892
A. A O.
do
do
April 1,1905
F. A A. N. Y., Nat. Bk. Commerce,
Aug. 1, 1901
do
F. A A.
do
6
Aug. 1, 1903

184-675.

4.282.500

500 Ac.

50
100
100
100

Rate.

640.000
160,000

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

100,000
1868 to’74

1878
1845 to’72
1863
Compromise railroad bonds (coup, and reg.)..
Funded debt improvement bonds, cp. A reg . 1882-’83
1885
Improv. bonds coup.or reg.(Act of May 9,’79).
Portland, Me.—Loan to Atl. A St. Lawrence RR. 1869-’70
1872
Loan to Portland & Rochester Railroad
1872
do
Portland A Ogdensburg
1...
1867-79
Municipal—proper
1887
Funding loan (redeemable July, 1902)
1863
Providence, R. 1.— Recruiting and bounty bonds
1872
Water loan bonds, gold, coupon
1874
do
do
registered
1876
do
do
do
1836
do
do
gold coupon
1875
City Hall & sewer loan b’ds, sterling, cp. or reg
1879
do
loan of 1879
1879
Public improvement loan, registered
1872
Prov. & Springfield RR. bonds, guaranteed...
1877 A ’79
New High School Building certificates
Rich,mond, Fa .—Bonds, reg. ,($118,000 are co up.)
Bonds, reg. and coup. ($213,500 are coup.)...
New fives, 10-34 years, registered
Bonds
1872
Rochester, N.Y.—Vo Genesee Valley Railroad ..
To Roch. A State L. and R. N. A P. Railroads. 1872 to ’74
1872 to’75
For various city improvements
1873 to’76
Water works loan, coupon and registered
1875
Funding loan
1882
Consol loan
1885
Local improvement funding loan

Hockland, Me.—Municipal bonds
Railroad loan ($20,000 payable yearly)

Amount

Size or
par
Value.

DESCRIPTION.

-oii2*
2 s-

ii'iowinir table the assessed value of real estate is near

Years.
1884
1885...;
1886
1887
1888
Assessed valuations of

Real Estate.

$373,728,105
587,749,828
601,001,971
61S 059.9»7

its cash value:

Personalty.
$9,884,578

10,035,600
10,307,644
10.619 325

Tax Rate.

$18 50
18 50
18 50
18 50

644,063,374
3,149,665
......
property for 1887 were: Full city property,
$569,587,035; suburban property, $40,203,885; farm property, $18,*
888,392. Tax rate, $18 50.
Population, 1870, 674,022, against 847,*
.

170 in 1880.

Peoria, Ill.—Total debt, - $670,500 Dec. 31, 1886. Population,
(estimated), 45,000.
Pittsburg.—Total
debt
31,
1887,
was $13,206,823; net,
Jan.
Years.
Real Estate.
Personalty. Tax Rate. $11,165,576.
The assessed valuation in 1881 was: Real property;
$9,776,197
$1,722,492
$20 $105,404,720; personal,
$1,838,258; tax rate, 1884, $16 per $1,000
10,086.898
1,494,483
20 Valuation of real estate only
in 1885, $108,530,608; personal, $3,000,000;
12,307,131
1,899,550
18 tax rate, $13. Total valuation
iu 1886-87 about $130,000,000; tax
11,963,450
1,739,630
18 rate $14. Valuation of real estate in 1887-8, $132,266,000; personal,
1,642.820
18 $2,464,000;
12,094,205
tax rate, $18. Population, 156,389 in 1880; 86,076 in
—Population by U. S. Census in 1870, 19,229 ; in 1880, 21,966.
1870, and on July 1, 1887 (estimated), 205,000.
Norwich, Conn.—The valuations and fax rate per $1,000 are:
Portland) ITIe.—The sinking fund and available assets March 31,
Real
Personal
Rate of
1887, were $147,627, not including $1,350,000 _P. A Og. RR. bonds.
Years.
Estate.
Property.
Tax.
The city is protected bv mortgages on Atlantic A St. Lawrence Railroad.
$7,505,514
$2,630,956
$9 00 Population in 1880, 33,810; 1870, 31,413; 1887 (est.), 40,000. The as¬
7.024,571
2,459,352
9 00 sessed valuations, tax rate, Ac., have been :
7,694,226
2,388,506
9 00
Real
Personal Rate of Tax
Total
Sinking
7.539,329
9 50
2,381,600
Years.
Estate.
Property, per $1,000.
Debt. Funds, Ac.*
$20,431,300 $12,598,720 $20 00 $1,371,000 $133,840
—Sinking fund, May, 1887, $65,613 ; population, 21,145 in 1880; 16,- 1883-84
653 in 1870.
106,408
12,014,435
20 50
4,286,000
20,794,300
21,208,000
11.759,525
21 00
4,285,500
162,986
Paterson, N. J.—Finances are apparently in a sound condition
21,571,000
3,942,500
11,862,200
21 00
147,623
The assessed valuations, tax rate per $1,000, Ac., have been:
These do not include the sinking funds for railroad loans:
Personal tv.
Tax Rate.
Years.
Real Estate.
Debt.
$18,521,342
$3,876,075
$1,168,500
$25 00
Providence, It. I.—The principal debt of Providenee lias been cre¬
19,205,501
3.816,500
25 00
1,168.500 ated since ’72 for water works, sewerage, the City Hall and Brook Street
19,549,111
1,165,000 Improvement. The sinking fund for bonds due m 1893 is $333,367;
3,891,115
25 00
3,913,863
25 00
20.467,176
1,167,000 1S95-99, $719,564; 1899-1900, $141,178; 1900-06-16. water loan, $452,275.
—Population, 51,031 in 1880; 33,579 in 1870.
Population, 1870. 68,904; 1885, 118,070.
The laws of Rhode
Philadelphia.—Jan. 1,’87, the funded debt was$59,369,620. In the Island now limit the debts of towns to 3 n. c. of their assessed valuation.

Norfolk, Va.—The assessed valuations and tax rate per $1,000 are:




29.259 in 1880; 22,849 in 1870; in 1886

.

*

.

November,

Subscribers will confer a great

13

SECURITIES

CITY

1887. |

favor by giving immediate notice of any error

discovered in these Tables.

INTEREST.

DESCRIPTION.
For explanations see notes on

11883467545367..

SI. Paul,

Bonds

Date of

8ize or

Amount

Bonds.

par

outstanding.

Value.

first page of tables.

Minn— Bonds

do
do
do

Rate.

1881-85
1870 to’85
1868 to’81
1864 to ’78
1860 to ’79
1886
1882-4-5
Various.
1868-9
1878
1858
1864
1865
1870
1874
1872 to’75
1871 to’73
1874
1875 to’76
1873-74
1876
1879
1883

$81,000
901,600

$1,000
1,000
500&C.
Various
Various

468,000

1,000
1,000Ac

523,747
263,125
425,000
1,500.000

Mass.—City debt

Feb.,’81 & Jan., ’83).

Water loan

100 Ac.
100 Ac.

559,500
375,000

Francisco— Bonds of 1858, coupon (gold)..
Central Pacific Railroad, coupon (gold)
Western Pacific Railroad,
ao
do
School bonds
School bonds
Park improvement bonds
Hospital bonds
House of Correction bonds
City Hall construction
Montgomery Ave (special tax)
Dupont St. (special) (Act March 4, 1876)
Savannah, Qa— Compromise bonds of 1879
Compromise bonds of 1883
Somerville, Mass— City debt

San

1,000

398.500

81

m--

500
500
500
500
500
500
500
500
500

100 Ac.
100 Ac.
Various.

mm

Large.
Large.
1,000
1,000
1,000

Water loan

Railroad loan

Toledo, 0.—General

-

Water

Sewer debt (all registered)
Water debt, reg
-

Years.

m

‘

1893)
$1,521,900 r.)

'•

Real

Personal

Tax per

Property.

$1,000.
$14 50
14 50
14 50
14 00
14 50

$31,722,000
30,S54,400
31,314,600
32,281,500
34,021,720

285,000
200,000

475,000

210,000
150,000
407,500

m

™

48,000
63,000

1,200,000

140,000
976,000
296,000
432,000

ra

1,943,400
785,000

475,000

500 Ac.

AssetsiuSink.
Funds, &c.

9,890,688
9,568,188
9,685,817

9,767,616

$1,681,400

1,843,785
1,438,328
1,701,985
1,815,811

Richmond) Va- In 1S86-7 real estate valuation, $33,517,807 ;
personal, $14,575,848: tax rate per $1,000, $1*1. In 1885, real estate,

§32,347303; personal, $13,751,666; tax rate, $14. Population, 63,600
in 1880; 51,038 in 1870.
Rochester.—Total funded debt, $5,309,000 July, 1887. The bonds
of Genesee Valley RR. loan, $132,000, are provided for by net receipts
from a lease of said road to Erie Railway. Population, 89,366 in 1880;
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60
per ct.

of true value), rate
Real

Personal

Property.

Estate.

Years.

of tax, Ac., have been:

Tax per $1,000

in old Wards.

Total
Debt.

$5,354,000
27-65
5,284,000
32 22
5,399,000
30-98
2,389,050
5,459,000
3,345,000
15-22
5.309,000
4,529,000
16-45
In 1886 real estate valued at 80 p.c. Populationin 1887 about 125,000.
Rockland. Hie.—Valuat’n of real and personal estate, 1885, about
$3,900,000; tax rate, $26 per $1,000; 1886 valuations, $3,788,780; tax
rate, $22 50 per $1,000. Population, 7,599 in 1881; 7,074 in 1870.
St. Joseph, Mo.—Population in 1880, 32.431; in 1870, 19,565; in
1887, estimated 60,000. A compromise of the debt was made in new 4
per cent bonds, which are given for the full principal and interest of
old bonds. June 30,1887, there were in addition to bonds given above
$26,650 small issues and unpaid coupons. The net debt in August,
1887, was $1,740,200.
The assessed valuations (in 1887 one-ha’f of actual valuation) and
tax rate per $1,000 for three years were as below :
Real estate.
Personal.
Tax rate.
$7,586,650
$3,678,193
$23
3,700,22 2
22
7,873,150
1887
15,000,000
21
St. Louis.—Population by the United States census in 1870 was
310,864, against 350,518 in 1880. The city and county-were merged
by law in 1877 and city assumed the county bonds. A claim of the
St Louis Gaslight Company for gas furnished, amounting in all to
about $882,000, with interest to March 31, 1882, was decided against
the city in 1880 and paid. $548,000 renewal bon ds, due 1900,are redeem¬
able in 1890: $913,000, due 1902-1905, are redeemable 1892-1895. Of
the bonds as given above, $2,348,000, maturing in 1888, will be red. emed
with proceeds of the $4,415.00 j bonds of 1837.
In addition to the bonds
ae given in above table, there ate the following: $10,000 Hospital, 6s,
due in 1888; $44,000 Harbor, 6s, due 1838; $55,000 Catondelet
indebtedness 6.*, due 1895, and $100,000 Fire De,.t., 6s, due 1895.

$36,166,200

37.270,850
38,563,020
72,171,975
72,860,900

$1,817,200
1,778,100

aud tax rate have been:
Rate of tax per $ l ,000.—.
Old
Bonded
New
Years.
Property.
Limits.
Limits.
Debt.
1884
$211,480,710
$5 00
$17 50
$22,105,000
1885
5 00
17 50
207,526,000
22,016,000
1886
214,427,690
5 00
22,942,000
17 50
216,778,670
5 00
17 50
22,105,000
~(V. 44, p. 586; V. 45, p. 26.)
St. Paul, Minn.—Population in 1870 was 22,300; in 1880, 41,498
In 1887 the local estimate of population is 148,047. Assessed valua¬
tions of taxable property aud tax rate have been:
Assessed valuation of property
Real Estate
and Personal

Years.

Real Estate.

Personal
Property.

$31,000,000 $12,000,000
14,263,565
47,000,000
50,512,212
14,291,946

Rate of Tax
per $1,000.

$24 50
16 00
19 50

68,539,570
15,584,481
17 50
Valuation of real estate is about one-haif of true value.
—(V. 44, p. 473.)

1836

:




'

_____

....

7 g.
5
5

348,500

1,000.000

$9,941,188

Due.

Whom.

A J. San.F.A N.Y.,Laidlaw A Co.
N. Y., Eugene Kelly A Co.
Q—F.
do
do
Q. J.

J.

1896
Feb. 1, 1909

July 1, 1913
1887 to 1896
1887 to 1906
18S7 to 1889

1,170,000 4, 5,5^,6 Various Boston, Nat. Security Bank
do
do
335,000 4, 5, 5^2 Various

I883-’84
1861 to ’83 500 Ac.
1870 to’86 500 Ac.

Total
Debt.

Pay’ble

4
5
6
7
8

1,579,000
919,000
3,304,000

*73,’74A79

J-870 to ’85

Estate.
$90,143,400
91,642,100
92,887,400
97.975,900
99,754,010

100,000

....

1870

WoodvilleRailroad, coupon

works ($3,000 only 6s)

m

1874-’77

bonds

Bridge bonds (redeemable after
Worcester, M.—City, ($521,500 c.,

a?,

1875 to’86

fund city bonds, coup

Floating debt refun ling

Toledo A

ez

174,000

,

Springfield, Mass— City notes
City b onds
Water loan ($200,000 are 6 per cents)

99,000

Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.

Principal—Win n

Payable, and by

1907 to 1912
Various N. Y. Am. Exch’ge Nat. Bk.
1897 to 1915
do
do
Various
18S8to 1904
do
do
Various
1887 to 1903
do
do
Various
1893 to 1904
do
do
Various
1916
do
do
4^
1912 to 1915
do
do
Various
4 A 5
Jan., 1888 to 1895
City Treasury.
4, 5 A 6 Various
do
do
Apl. 1,18S8-1898
6
A. A O.
July 1, 1904
do
do
5
J. A J.
Jan. 1, 1888
6 g. J. A J. San F.AN.Y,, Laidlaw A Co.
do
do
July 1, 1894
7 g. J. A J.
May 1, 1895
do
do
7 g. M. A N.
June 1,1890
do
do
7 g. J. A D.
July 1, 1894
d#
do
6 g. J A J.
1897 A 1904
do
do
6 g. J. A J.
Nov. 1, 1891
do
do
6 g- M. A N.
do
do
July 1, 1894
7 g. J. A J.
1899
do
do
6 g.

1
8
2
3
34738811 881
Waterworks coups, (acts

Salem.

Where

When

Total

Debt.

$2,328,010

3,027,140
3,815.640
4,521,057

655.300

Salem.
1887-1890
Various Boston, First National B’k.
do
do
A. A O.
Apl. 1,’94, to 1905
6
1887 to 1893
do
do
A. A 0.
1888 to 1913
4
Various N. Y., Imp. A Trad. N. Bk.
1889-1892
do
do
Various
6
do
do
May, 1900
M. A N.
1893 to 1899
do
do
Various
6
Oct., 1913
do
do
A. A O.
4, 5 A 6 Various C.Treas.ABost. Mclits.’ Bk. Jan. 1, ’88 to 1905
1899 to 1905
do
do
4, 412, 5 Various
Jan. 1, ’88 to 1915
do
do
312,4.5,6 Various

412

Various

6
A 7
7
to 8
A 8
7*3
A 8
5

Salem) Mass.—In addition to the debt as above given there were
Dec., 1886, $96,936 trust funds, pa: able on demand. The sinking
funds Feb., 1887, were $431,470, mostly consisting of City of Salem
bonds.
Population, 27.563 in 1880; 24,117 in 1870. Tux valuation,
1882, $25,528,242; tax rate, $15 50. In 1883 valuation, $25,614,115;
tax rate, $16.
In 1884 valuation, $25,360,772; rate of tax, $17 50. In
1885 real estate valuation, $12,831,300; personal, Ac., $12,234,830;
total, $25,066,130; tax rate, $16 50. In 1886 valuation of real estate,
$13,283,500; personal, $12,937,024; total, $26,220,523; tax rate, $15 50;
tax rate in 1837, $L6 00.

in

Sau Francisco.—Population. 233,959 in 1880; 149,473, in 1870. The
Montgomery Avenue and Dimont Street bonds are special issues charge¬
able only on the assessment of property benetitteu, and suits were in
progress October, 1»84, to determine their legal status. Sinking funds
raised annually amount to over $238,000, the amount on hand June 30,
1886, being $901,933. The assessments for four years and tax rate (per
$100) are given below. The following valuations are made by the city
and county, the valuations by the State being different, but the tax rate

below includes that for State purposes :

1881-85

1885-86

Realty.
$155,834,879
151,894,908
158,723,269
161,495,888
171,416,426

Total

Personalty.
$66,598,521
50,267,099
62,272,534
59,013,672
56,192,922

Savannah. Ga.—Default was made on interest Nov.

Tax Rate.
$18 05

18 02**
16 97^
15 75
15 95

.

1,1876, inconse¬

quence of yellow fever and nou-colleotion of taxes. The compromise
gave new 5 per cent bonds for the face of old bonds; and for
up
to Feb. 1, 1879, 58 per cent of the face value iu similar bonds. Assessed
value of real estate and tax rate each year have been as follows:
In 1881, $10,500,000, $25; 1882, $10,650,000, $30; 1883, $10,900,000,

interest

$30; in 1884, $12,500,oOO, $30; in 1885, $13,000,000. $2L 25; iu
$13,400,000, $21 25: in 1887, $13,700,000, $21 25. Population in
28,235, agaiust 30,709 in 1880.

Somerville, Mass.—Total debt, Jan. 1, 1887,

1886,
1870,

$1,525,000; sinking

$23,162,200; In 1883,
$25,907,700; in 1886,
$26,003,200. Tax rate in 1885 and 1886, $15 40.
Except $140,000
5s in $1,000 pieces and $399,000 4s, all bonds are in $2,000 to $50,000
pieces. Population 24,933 iu 1880; 14,685 in 1870.
Springfield) Mass.—Total funded debt, Jan., 1837, $1,451,000;
fund, $581,052.
Property valuation iu 1882,
$23,812,900; in 1884, $24,331,100; in 1885,

$119,734. The railroad debt falls due $20,000 each year.
Population in 1885, 38,000; 1870, 26,703. Tax valuation aud rates

cash assets,
have been:
Years.

1882

Personal

Real Estate.

$23,795,920
25,084,420
25,676,800

26,201,150
26,969,800
27,638,760
—Valuation of real estate is about 67 per
1834
1885
1386

property.

$8,935,850
9,198,258
9.260,459
8,792,666
8,827,966
9,143,442
cent of true valuo.

Tax rate
per

$1,000.

12 50
12 50
12 50

14 00

12 80
12 80

Toledo.—Total debt, Jan., 1837, was $3,188,484. Of this the debt
payable by special assessments was $150,009 Iu aldition to bonds
as given above, there are $29,000 6s, due 1891
aud ’92, and $3,000 5s,
due iu 1883, 1895 and 1905, aud $50,000 4s., due iu 1907. Taxable
valuation or real estate, 1885, $21,733,240; personal, $3,157,060;
total valuatior, $29,930,300; tax rate, $28 per $1,000. Valuation, 1886,
real estate, $22,179,770; personal, $8,118,620; total valuation, $30,293,390; tax rate, $28. Population, 50.137 in 1880; 31,584 in 1870.

Worcester, Mass.—Total funded debt, Jan. 1, 1837, $3,506,700.
$1,296,883, including $369,846 in sinking fund.
Population, 68.383 in 1885, 58,291 in 1880, 41,105 iu 1870. Tax valu¬
ation in 1882, $45,504,512; tax rate, $17 40 per $1,003
Tu 1883,
$48,570,335; tax rate, $17 20. Tn 1834, $50,773,475; tax rate, $16 60.
In 1885, $52,714,910; tax rate, $18. In 1886, $51,566,389; tax rate, $18.
Cash assets Dec. 1, 1836,

INVESTORS’

14
Subscribers

favo** by giving

will confer a ijreat

DESCRIPTION.
For

explanation of column
on

first page

headings, Ac., see notes
of tables.

Albany <£

c

Susquehanna—Stock

1st

mortgage
Albany City loan (sinking fund, 1 per ct. yearly).
Consol, mort. (guar. D. A H. endorsed on bonds)..
A llegheny Valley—Stock
•.
General mortgage (Riv. Div.)
Bonds to State Pa. (endorsed) 2d mort.. East
1st mort., East’n Extern, guar, by Pa. RR

Funding income bonds,

ext.

with traffic guarantee

Amador Branch— 1st mortgage
Asheville <t Spartanburg— 1st mortgage, gold
Atchison Col. <k Pacific—1st mort., guar
Atchison Jewell Co. & West.—1st M., guar. C.B.U.
Atchison Topeka <& Santa Fe—Stock
1st

mortgage, gold,

c

P.

($15,000 p. m.)

Date

290
209
142
142
142
259
132
110
110
259
27
71
254
34

-

1882
1H84
1878
1886

1863
1865
1876

2,526

27
66

1869
1870
1873
1880
1880
1830
1881
1887
1887
1872
1875

282
282

1875
1875
1878

470

($7,500 p. m.)

S. F. bonds, plain
Coliat. trust sink,
Coliat. trust sink,

....

property(fc10,ui)0,000)...T..

Mort. bonds on Chic,
Wiohita <te Southwest., 1st M.,gold
Kans. City Top. & W. 1st M.,
do
do
income bds.

]

gold I

Pueblo A Ark. Valley, 1st M.,gold I
iJ
Pueb. A A. V., 1st (A 2d onl48 m.

)• Guar.rental.

Size,-or

Amount

Par

Outstanding

Value.

$7,12S000
2,232,000
1,714,000

£100
£100

$1,000

134,000

£100

3,500,000
998,000
1,000.000
8,488,000
2,166,500
4,000,000
2,3)0,000
10,000,000
9,723.100

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

1866
1870
1871
1874
1877
1885
1879
1879

Land grant mortgage, gold,
Consol, bonds, gold, ($7,500 p. m.)
Coliat. trus bonds (drawn at 101)

(redeemable at 101)
fundjbonds (drawn at 100)..c&r
fund bds. (drawn at 105)
Collateral trust bonds., gold (V. 44, p. 245).. ..c&r

lm*nedlate notice of any
error discovered in these
INTEREST OR DIVIDENDS.

of
Road. Ronds

233

debentures

Ala. N. 0. Texas<& Pacific June— 1st
2d debentures
Ala. Ot. South’n.— 1st mortgage
Debentures, gold

Miles
of

[Vol. XLV.

SUPPLEMENT.

„

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

675,000

1,000
1,000

500.000

4,070,000

1,000
1,000

542,000

75,000,000
7,041,000
2,426,500

100
500 Ac.
500 Ac.
500 Ac.

108,500

1,007,000
3,519,000
4,687,000

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

12,142,000

6,500,000

100 Ac.

(?)
412,000
854,000

1,000
1,000

200,000

1,633,000
1,942,000

1,000
1.000

Where

Rate per

When

Cent.

Payable

6
6
6 g.
6 g.

3*2
7
6

6 g,

A 7

Tables.

Payable, and by
Whom.

London.
do
D.
J. N. Y.,Farmers’ L.
London.
A.

A
A
A
A
A
A
A

J. N. Y.,B’k
J. N.Y.,Del.
do
N.
do
O.

7*30 J. A J.
5
Jan’ary
A. A O.
7.
A. A O.
7
J/ A J.
6
6 g- A. A O.
6
Q.-F.
6
Q.-F.

-

Stocks—Last
Dividend.

April 1, 1907
June 1, 1907

A. A O.

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

Bond s—Prino

pal, When Due.

A T. Co

of Commerce.
A Hud.Can.Co
do
do

Jan. 1, 1903
Aug. 15, 1906
July 1, 1887
July, 1888
1895-’97

April 1. 1906

Y., Winslow, L. A Co. March 1, 1896
Harrisburg, Treasury. 100,000 y’rly

N.

6
5 g.

Philadelphia or London April 1, 19I0
Oct. 1. 1894
Pittsburg, Co.’s Office.
N. Y., Cent. Pacific RR. Jan. 1. 1907
N. Y. Company’s Office. April 1, 1925
May 1, 1905
N.Y., Un. Pac.RR.Office
May 1, 1905
N.Y.,Un.Pac. RR office.
Nov.
15, 1387
Boston, N. Y. A Chic.
Q.-F.
July 1, 1899
J. A J. Boston, North Nat. Bk.
Oct. 1, 1900
do
do
A. A O.
April 1, 1903
do
do
A. A O.
April 1,1909
A. A O. Boston, Boston Nat. B’k.
Sept. 1. 1920
do
do
M. A S.
Oct. 1. 1920
A. A O. Bost. Safe Dep. ATr. Co.
Deo. 1, 1911
Boston, Co.’s Office.
J. A D.
Feb. 1, 1937
do
do
F. A A.

7
7
7
7
7

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

1%
7 g.
7 g.
7 g.
5
5

4*3

g.
g.
g.
g.
g.

A
A
A
A
A
A

A.
J. Boston,
J. Boston,
do
S.

J. Bost., N.
do
J.

North Nat. Bk.

Everett N. Bk.
do

Bk. of N. Am’a
do

July 1, 1902
July 1, 1905
Mar. 1, 1906
July 1, 1905
July 1, 1905

Fe.—(See Maps.)— Live of Road.—
lines of road operated on Deo.
V. 4 4, p. 586. Tne totals 0? the
Vicksburg
A Meridian, 142 miles; Vicksburg Shreveport A Pacific, 189 miles; N.O. diff rent systems are as follows: Atchison, 1,8)5 50 miles; Southern
A North Eastern, 195 miles; and Spanish Fort R’y. near New Orleans, 13 Kausas, 63030 miles—total, both systems, 2,526 miles; Chicago Kan¬
miles. It also controls the Cincinnati New Orleans & Texas Pacific sas A Western, 401-23 miles; Sonora, 350 19 miles ; roads owned jo ntly
Railway Co. (lessee of the Cincinnati Southern Railway). The manage¬ with other companies (one-half of 192*08 miles), 96*94 miles: total,
ment of the company is the same as that of the Alabama Great Southern 3,373*26 miles. The results on all these systems (except the Chicago
Kansas A Western, under construction in 1886) are included in the
RR. In 8ept., 1887, the appointment of a receiver for this company
Atchison T<>p.*,ka A Santa Fe report. In addition to t.h^ above. The
was proposed by the stockholders in London. The preferred or “A” shares
Atchison Company owns exclusively the Gulf Colorado A Santa Fe RR ,
are £1,500,000, having a preference for 6 per cent dividends and cumu¬
Atchison Topeka

A Santa

Sc Pacific Junction (Limited.).—(See
Map Cinn. N.O. dkT.P.)—This is an English Co. controlling the

complete detailed statement of the
31, 1886, was given in the Chronicle,

£2,500,000; par value of all
redeemable any time at 115,
on six .months’ notice.
The company holds the following securities, viz.:
Cin. N. O. & Texas Pacific $532,000 stock; Vicksburg & Meridian,

847*30 miles, an 1 is p irt own sr of the
miles, and the Atlantic A Pacific RR.,
these throe roads are, however, kept entirely

Alabama N. O. Texas

lative, and the deferred or “B” shares
shares £10 each. The first debentures are

3d mortgage,
stock; of Vicksb.
and $1,594,and $4,320,and $200,<>00
(V. 45, p. 52,

$245,000 1st mortgage, $105,000 2d mortgage, $416,500
$1,464,300 preferred stock and $363,000 common

Shrevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes
000 stock; of N. O. A North Eastern $4,900,000 1st mort.
000 stock; N. O. Spanish Fort AL. RR. $300,000 1st mort.
oom. stock. Report for 1886 iu Chronicle, V. 45, p. 52.
436.)

O. dt T. P.)—From
leased, Wauliatchie
The Alabama A
Chattanooga RR. madedefault Jan. 1,1871, and road was sold under fore¬
closure Jan. 22, 1877. Present company organized Nov. 30, 1877, and is
controlled by an English company of the same title. The lands were
conveyed in full settlement to the holders of the $2,000,000 of Alabama
State bonds. These lands (about 550,000 acres) are held by trustees.
(V. 30, p. 117.) The debentures are made exchangeable for auy mort¬
gage bonds that may be created subsequent to the debentures.
Capital
stock—common, $7,830,000, and preferred 6 per cent, $3,330,350.
Gross earnings in 1885, $1,076,188; net, $128,140.
Gross in 1886,
Alabama Great Southern.—(See Map Cinn. N.
Wauhatchie, Tenn., to Meridian, Miss., 290 miles;
to Chattanooga, 5 miles
total operated, 295 miles.

A

California Southern RR.. 210*61
917*75 miles. The op radons of
distiuct fr »m those of the
other systems and aro not given in the Atchison’s reports. Tne roads
may be summarized as follows:
Operated directly (Atoh'.son To »eka A
Santa Fe aud Southern Kansas), 2,526 miles; operited indirectly, 847
miles; owned and partly owued, but operited by separ ite com >anie.s,
1,975*66 miles- graud total, 5,319 miles. (8juce Jan 1,1887, over 800
miles of new road have been completed.) The California Southern gives
through route to the Pacific coast at San Diego, via the Atlantic A
Pacific RR. The Gulf C »1. A Santa Fe road was bought in April. 1888.
Organization, Leases, Ac.—The A. T. A S. Fe. Co. was incorporated
March 3, 1863, and includes the Atchison A Topeka RR.. incorporated
Feb. 11,1859. The land grant was received by Act of Kansas Feb. 9,
1864.
The
The main line of 471 miles was opened Dec. 23, 1872.
whole system outside of the main line is nominally under different cor¬
porations, of which the ownership is vested in the A. T. AS. F., and the
roads also leased to that Co., and interest on the bonds usually paid as
a

rental.

The Southern Kansas

and the Sonora systems are

but are controlled by ownership of the
In Aug., 1884, an agreement was

stock.

not leased,

made for the control of the Mojave
for traffic over theSoutuern
Atlantic A P lOitlc 1st mortgage
and the bonds guaranteed onethe Atohiso i and Sau Fraaeiaoo
Atl. A Pac. and 8t. L. A San Fran, in this Supplement.

Divisiou of the Southern Pacific and a right
Pacific to San Francisco. In 1886 the
hondi Merest was reduced to 4 per oent
half each, severally but not jointly, by

(V. 42, p. 727).
Albany Sc Susquehanna.—Road owned from Albany, N. Y., to companies. See
Binghamton, N.Y., 142 miles; branches operatedDuanesburg Junction,
In April, 1886, the G. C. A S. F. was purchased by the Atchison Com¬
N. Y„ to Schenectady, 14 nuies; Cobleskill, N. Y., to Cherry Valley, 21
pany by the exchange of G. C. A S: F. stock for Atchison stook, $3,000,miles; operates Lackawanna A Susquehanna RR;, 22 miles; Ease Glen- 000 in ail. See official circular, V, 42, p. 630.
ville to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity
Tuo fiscal year ends December 31.
from Feb.. 1870, to Delaware A Hudsou Canal Co.; rental, 7 per cent
Stock and Bonds—The stook has been Increased rapidly to present
on stock and interest on bonds.
Additions and betterments charged to
lessors, and cost made part of investment. Tlte consol, mort. is for $10,- figures for the acquisition of the auxiliary lines and by way of stook
In August, 1887,
there was offored to stockholders
000,000, of which $3,000,000 are 7 per cents, currency; the principal of dividends.
the 6s. is also payable in “lawful money,” but the interest in gold. Gross $10,009,000 new stock at par, raising the whole stock to $75,000,009
earnings in 1885-86, $2,841,409; net, $1,202,770; surplus to lessee after as above when all issued. Dividends have been—in 1879, 3 percent;
in 1880, 8*2 ; in 1881, 6 cash and 50 stock; in 1882 and thereafter 6 per
all payments, $259,760. (V. 43, p. 580; V. 45, p. 180, 614.)
ceut regularly paid.
The range in prices of stock in Boston was—
Allegheny Valley.—Owns from Pittsburg, to Oil City, Pa., 132 in 1381, 92154*4*, in 1382. 7878®96*8; in 1883, 73a>36*4; in 1384,
miles; branches—Red Bank, Pa., to Driftwood, 110 miles; others, 17 59*2^80; in 1835, 63*4®89l2; in 1886, 7978«100; in 1837, to Nov.
miles; total operated, 259 miles.
The company became embarrassed 18, incl., 90*«/fcll978.
In 1874 and compromised with its creditors.
It still falls short
Such bonds as arc hold in the company’s treasury, or leased line bonds
of earning interest liabilities. Of the income bonds the Pennsylvania
held as collateral for any of its own bonds given above, are not included
Tne land grant bonds rcoeive the
RR., Northern Central and Philadelphia A Erie hold $6,087,000, the in the above amounts outstanding.
interest on which was paid altogether in bond scrip. The coupons of proceeds of land sales in payment of Interest, and principal.
The sinking fund 5 per cent bonds due Sept. 1, 1920, are plain bonds
guaranteed bonds held by the Pennsylvania Railroad for advances
amount to $5,232,710.
In L886 the charges for mortgage interest and (not mortgage) ami partly see ired by deposit of $630,0 >0 plain
car trust payments were $1,115,604, income bonds nil; deficit in net
of Kansas City Topeka A Western RR. sinking fund is 1 per cent p,*r
earnings, $432,38 4. In May, 188 4, receivers were appointed at the annum, with which bonds are dr iwn at 101.
instance of the Penn, aud other railroads as plaintiffs.
The 4*2 per cents due October, L920, have $ 4,650.009 of the 6 per
From January l to Sent. 30 iu L887 (9 months) gross eirniugs were
cent mortgage bonds of the Rio Gr. Mex. A Pac. and $500,000 of the
$1,483,551. against $1,321,710 in 1886; net, $55 4,657, against $476.2 L7.
RioGr. A El Paso roads as seourity, the sink. fd. being 1*2 P- ct per an¬
In 1885 gross earnings were $1,780,133; net, $671,134.
In 1836, num, rising to 3*2 by 1910. with which bonds are b >uglitord *awn at par;
gross, $1,812,729; net, $681,230: interest, $1,115,60 4; deficit, $432,33 4.
registered bonds for $5,000 issued for coupon bonds, aud are not re¬

$1,215,195; net, $276,798.

bonds

—

(V. 43, p.546; V. 44, p. 21,

612.)

Leased till
month. Stock, $675,Iu 1886 gross
earnings $39,448; net, $13,124. Lelaud Stanford, Pres’t, Sau Francisco.
Asheville Sc Spartanburg—(See Map Richmmd
Danville).—
From Spartanburg, S. C., to Asheville, S. C., 71 miles.
Formerly
Spartanburg A Asheville; sold in foreclosure April. 1881, and reor¬
ganized. Stock $1,050,000. In 1883 the mortgage for $500,090 was,
made to bmid the 18 miles to Asheville; in 1885 a. new mortgage for
$500,000 was authorized. Controlled by Richmond A Danville. Gross
earnings in 188 4-5. $28,572; deficit, $4,611. Gross earnings iu 1885-6,

Amador Branch.—Galt, Cal., to lone, Cal., 27 miles.
Nov. 1, 1890, to Cent. Pacific; rental $3,500 per
000. Earning* iu 1885, $31,243 gross and $12,705 net
•

$29,5t3; deficit, $5,527.

Washington
Logan to
Ball City. Kan., 2 4 miles; Yuma,

Atchison Colorado Sc Pacific.—Waterville, Kan., to
Kan., 20 miies; Green leaf, Kan., to Logan. Kan., 155 miles;

Lenora, Kan.. 25 miles; Downs,

Kan., to

road

Kan., to Warwick. 31 miles; total. 254 miles.
The
forms an exten¬
sion of the Union Pacific Central Branch, by which the bonds are guaran¬
teed and the road is controlled, and the whole system is

virtually owned

by Union Pacific, but operated by Mo. Pac. Stock. $1,522,400,
U. P. and C. P. own $920,300. Rental is $25 4,370 per annum.

of which

Atchison Jewell Co. A West.—Jamestown, Kan., to Burr
Kan., 34 miles. Under same auspices and control as Atchison
A Pacific. Stock, $202,800, of which Union Pacitio owns $105,000.
tal is $34,090 Der annum.




Oak,

Colorado
Ren¬

deemable till after coupons.
The 6 per cent bonds due Dec. 1, 1911,
bonds of a number of the proprietary or
oyer $ 15,000 per mile, deposited in
deemed at 105 by the sinking fund, which
1891 and 2 per cent thereafter.

have as

security 1st or 2d more,

controlled railroads, at not
trust as collateral; they are re¬
is 1 per cent per annum till
The 5 per cent bonds, due April 1. 1909, are secured by
Mex.
A So. Pac. 1st mort. 7s.
Tiie collateral trust bonds of 1837 are direct bon is of the Atonison,
oompany, against which are depodted in trust the bonds of branch lines
constructed in California and Colorado, riot exceeding $25,099 per
Boston Safe Deposit A Trust
Compauy is trustee. Seo circular
mil
in V. 4 4, p. 245.
Tne b mds of $10,000,000 on Chicago pr >pcrty arc secured on ter¬
minals, Ac., in that city.
Interest on the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaran¬
teed; those bonds are at $20,00,0 per mile, of which $5,00 ) per mile are
owned by the A. T. A S. F. Co.
Tiie Calforui t Southern 1st mortg bonds are guarantee t (by en torseiueut on the bonds) as per rhe agreement of reorganization for that
companv made in X835. The first coupon on flic income hoods was
paid September. 1887. Sinking fund of $25,900 per year retires the
first mortgage bon Is at 112.
The Wichita A Western, Wichita to Collison, Kail , 100 miles, is ownc t
joinrly with the St Louis A San Fran., hut bonds are not guaranteed.
The Leav. Top. A So RR. bonds at 4 per cent are guaranteed one-ha!
by the A. T. AS. Fe, andoue-half by the Union Pacific.
*.

EAILEOAD

November, 1887. J

STOCKS

AKD

BONDS

15

Subscribers will confer a great favor by giving Immediate notice of any error discovered in these Tables.
DESCRIPTION.

For

-

first page

of tables.

Atch.Top. <£ S.Fe—( Continued.)—
gan. City Emporia & S..lst mort
1
(
Cow. Sum. A Ft. Smith, 1st mort
i G’rantee J
Marion A McPherson, 1st mort
[ rental, j
Florence El Dor. & W., 1st M., gold.. J
L
Wichira A Western—1st mortgage coup

64
92
93
26
45
46
372
262
210

Leav.Top.&S.W.—lstm.^guar.byAt.&^byUn.P.
N. Mexico & So. Pac.—1st M.t gold, guar, rental..
Sonora, 1st mort., gold, interest guaranteed

Cal. So., gold, guar.by A.T.AS.F. (drawn at 112).

1879
1879
1879
1877
1884
1882
1877
1880
1886
1386
1886
1886
1m87
1879
1880
1880
1881
1886
1886
1886

Income bonds
450
450

Chic. Kan. & West., 1st, gold, guar, by A.T.& S. F.
do
inc. bds.. non-cum.($7,000 p. in.) c*
Chic. Santa Fe A Cal., 1st mort., gold, guar c'&r
Southern Kansas—K.C. Law. & So., 1st mortgage
So. Kansas & West.—1st mort., (drawn at 110).

.

.

•

135
139
18
42
350

County RR.—1st mortgage
Ottawa & Burlington RR.—lstmortg
S. Kan.(Gulf Divis.)—1st. g’ld.guar.by A. T.AS.F.
Income bonds (not cumulative) $1,000 per mile)
Southern Kansas in Texas, 1st mort., gold, guar..
269
Atlanta <* Charlotte.—Stock (guar. 5 p. ct. by rental)
2651s
Newpref. mort
265*3
Mortgage bonds
Income bonds, registered (not cumulative)
80
Atlanta dt West Point—StocK
Debenture certificates
325
Atlantic & Northwest— 1st M., g.; guar
*c\fcr
927
Atlantic<£ Pac.—A.& P. guar, trust bonds, gold
640
Incomebds., non-eum’tive, W. D. ($18,750 p. m.).
1st RR. A land gr. bonds on Cent. A Mo. Divisions
112
1st land grant bonds on Central Div. cumulative
112
Income bonds, Cent. Div.,non-cum. ($18,750p.m.)
Sumner

....

....

....

1877
1877
1880

....

1,000
1,000

798,000
713,000
775,000

1,000
1,000

761,000
1,380.000

1,000
1.000
1,000
1,000

4,425,000
4.050,000

100 Ace.
100 Ac.

l.OOOAo
500 Ac.

1,000
1,000

1,000
1,000

1,000
50 Ac.
500 Are.
500 Ac.

1,000

245. The roads covered by these bonds are about 900 miles of branch

lilies in Kansas constructed in 1886 and 1887.
The Chicago Sanra Fe & California Railroad is the company in Illinois
and Iowa forming the connecting line from Kansas City to Chicago,
about 4 50 miles-Kansas City to Fort Madison, la., on Miss. River,
about 200 miles, then to Pekin, Ill., about 160 miles, aud then over Chi¬
cago & St. Louis (purchased) 90 miles. Its bonds, ($35,00u per mile) are

guaranteed by the Atchison, and are a first lien on all but 90 miles, on

which there is a prior mortg. of $1,500,000, for which bonds of this ii-sue
are held to retit e them at maturity.
Trustee of mo: tgage is Boston Safe
Deposit A Trust» o. of Boston. See V. 44, p. 148.
lie Southern Kansas Gulf Division and the Southern Kansas in
Texas first mortgage bonds were issued as per circulars in V’. 42,
p. 462, V. 43, p. 431.
The bonds are guaranteed, principal and

The Gulf Division bonds

the road from Arkansas City south through Indian Territory
towards Denison, and also the branch from Kiowa on the Kansas
cover

border southerly to Wolf Creek and the Texas border (in the Panhandle).
The SouthHi n Kansas Railroad in Texas was organized to build that part
of the line in Texas, and on both lines the bonds are at $16,000 per mile,
guaranteen by Atchison. The income bonds issued by the So. Kansas
Gulf Division are at the rate of $4,000 per mile and not issued till these
two divisions are completed.
Land Grant.—The lands are practically sold out. Land sales in 1886,
347,322 acres for $*448,889, being an average of $2 44 per acre; assets

Dec. 31,1886, $1,343,817 contracts and interest on contracts, and 1,391

yet unsold.

Operations, Finances, Ac.—The connection with the Atlantic A
Pacific took effect for business in October, 1883, and the through
line to San Francisco by use of the Southern Pacific lines Oct. 1. 1884.
In Nov., 1885, the Cal. Southern was completed, giving a through route

$13,634,-

174,against $11,052,675 in 1886: net, $6,2 -2,374, against $5,10.'v 80.
The report for 1886 was in the Chronicle, V. 44, pp. 5^3 aud 586.
Earnings and operations and income account were as follows, these

statistics embracing the Atchison Topeka A Santa ..Fe aud Southern
Kansas systems combined, but nothing of the Sonora, Atlantic A Pacitio,
or roads owned jointly, although the interest on
Sonora bonds is
deducted here:
OPERATIONS AND FISCAL RESULTS.

Miles operated

Operations—
Passengers carried
Rate

one

per passenger per

Freight (tons) carried

Rate per ton per mile

mile
mile

one

1886.

2,397

2,526

149,999.427
2*593 cts.

176.810,489
2*277 cis.

mile.634,711,316

607,753,550

687,399,093

$
3,583,018
11,946,453

$
3,889,411
10,873,621
808,363
15,571.395

Lit

express, Ao
Total gross earnings

1885.

135,412,096
2*618 cts.

Earnings—
Passenger
Freight
Mai

Ib84.

2,374

1*882 ets.

.

762,412
.

....

Operating expenses—

Maintenance of way, Ao
Maintenance of equipment....
•

•

•

Transportation expenses
Miscellaneous
Taxes

Total operating expenses
ses

Net earnings..
P. ct. of op. expenses to earns..
IS..

16.291,883

2,861,236

1*789 ets.

.

1*615 cts.

$
4,026.005
11,100.967
857.335

15,984,307

1,461,896

2,230,291
1,409,732

3,560,610

3,777,357

1,395,719
4,128,349

670,856
421,378

388..193
459,194

492,956

8,975,976
7,315,907

8,314,967
7,256,428

8.013.911

55*09

53*40

53*89

1881.
$7,315,967
$7,315,907

1885.
$7,256,428

1886.
$7,370,166

28,488
142,014
188,281

28,012
146,743
180,188

$7,674,690

$7,6:4,371

$8,198,o73

$37,093
1,812,544
866,655
188,281

$25,500
1,980,664
854,9.30

2.186,767
410,129

7,370,396

INCOME ACCOUNT.

Receipts—

Net earnings

Rentals, dividends, &c

Other receipts*
From land grant trusts
Total Income

Disbursements—
Rentals paid
*
Int.on Ar.T.AS. F.andSo. K.bds
Interest paid as rental
Interest on land bonds
Interest on Sonora bonds
Int

on

Leav. To A So. W. bonds.

Dividends
Rate of dividend
oinking funds
Paid

to orlmr

roads..

Miscellaneous

33,785
-

62 -,859

170,03

>

1*0,188

$20.40 '
2,004.679
829,499
170,633

283,500

233,500

3,414,786

3,738 478

27.r 00

3,414,736
(6
269,716

(6)
299,525

241,677

46,093

(6)

311,340
73,227

25,000
Total disbursements
$67830,707
$7,110,186
$7.4597356
Balance, surplus
$843,983
$504,185
$739,317
Includes not land receipts Southern Kansas Railway Co., sundry
profits, and balance of general interest account.




1,700,000

1,232.200

1887
1880

to the Pacific coast by the Atlantic, A Pacific road.
From Jan. 1 to sept.,30 in 1887 (9 mos.). gross earnings were

(?)

4,250.000
750,000
1,232,200

500
100

guaranteed by the latter company, and these, with the income bonds at
$7,000 per mile, were issued as per the circulars in V. 43, p. 59 , V. 44,

acres

500,000
3,920,000
(?)
500,000

£100 Ac

1871
1882

*

2,106,000
3,5i*5,000
12,2')0,('00
6,100,000
15,000,000
2,940,000
1,6^9,000
212.000

1.000
100 Ace.
100 Acc.
100 Acc.
100

The Chicago Kansas A Western stock ($10,000 per mile) is held by the
A. T. & S. Fe, and the first mortgage bonds, at $14,000 per mile, are

interest, by the Atchison Topeka A Santa Fe.

$532,000

1881

1871

Outstanding

$1,000
1,000

....

....

p.

Amount

of

explanation of column headings, &c., see note8
on

INTEREST OR

Date Size, or
of
par
Road. Bonds Value.

Miles

6,6*0,000
17,610.009

12,000,000
1,189,905
796,629

2,100,000

Rate per
Cent.

7 g.
7
7 g.
7 g.
6
4 g.

When

Pay’ble
J. & J.
A. & 0.
A. A O.
A. & O.
J. A J
J. & J.
A. A O.
J. A J.
J. & J.
M. A 8.
J. A D.

DIVIDENDS.

Where

Bonds—Princi¬

pal,When Due.

Payable, and by Stocks—Last
Whom.

Dividend.

Boston, North Nat. Bk. July 1, 1909
do
do
do
do
Boston. Nat. B.N.Amer.
do
do

Oet. 1, 1909
Oct. 1, 1909
Aug. 1, 1907
Jan. 1,1914

Boston, Am.L’nA Tr.Co.
Boston, Everett Nat.Bk.
Boston, Nat. Revere Bk.

July 1, 1912
April 1, 1909
Jan. 1, 1910
Boston and New York. Jan
1, 1926
March 1, 1926
June 1, 1926
Boston, Offioe of Co.
e
do
do
May 1
Jnnel, 1926
5 8- J A J. N. Y., Hanover Nat. Bk. Jan. 1, 1937
6
A. A O. Boston, Nat. Union Bk. Apr. 1, 1909
7 g.
7 g.
6
6
5 8-

7
7
6
5 g.
6
5 g.

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

J.
M.
A.
M.

A J.
A S.
A O.
A S.

do
do
do
do
do
do
do
do
do
do
M. A S.
do
do
M. A 8. N.Y. Central Trust Co.
A. A O.
do
do
J. A J.
do
do
A. A O.
do
do
J. A J. Atlanta, Ga., atTreas’y.
J A J
do
do
j! a j‘. Lond.,Baring Rros.ACo.
J. A J. N. Y., Mercau’ Trust Co.
A. A O.
Boston.
M. A N.
New York.
At Mat.
do
J. A D.
Boston.

Jan. 1,

1910

Sept. 1, 1910
April 1. 1909
Sept, 1,1926
1926

Sept. 1,1926
Srpt. 7, 1887
April 1, 1897
Jan. 1, 1907

April 1, 1900
July 15, 1887
1891
Jan. 1, 1937
Jan. 1, 1937
Oct. 1, 1910
Nov. 1, 1891

Nov., 1901
1922

June 1,

! (V. 43, p. 102, 125, 15 2, 162. 244, 274, 333, 431, 451. 546. 571, 578,
633, 671, 718, 738, 773; V. 44, p. 21, 59, 60, 148, 245, 382, 400, 466,
551,564, 583,585, 58tt, 627; V. 45, p. 52, 142, 180, 271, 310, 400, 472,

564, 612.)

Atlanta Sc Charlotte Air Ijine.—Owns from Charlotte, N. C., to
Atlanta, Ga., 269 miles. The Richmond A Atlanta Air-Liue was sold
under foreclosure Dec. 5, 1876, and the existing corporation was formed
Feb. 27, 1877. On March 26, 1881, rue road wras leased to the Rich¬
mond & Danville at a rental of $462,000 per year, equal to the interest
on debt and 5 per cent on stock;
if gross earnings of A. A C. A. L.
exceed $1,5‘>0.000, dividends to be 6 per cent; and if they exceed
$2,500,000, 7 per cent.
Atlanta Sc West Point.—Owns from East Point, Ga.,

to

West

Point, Ga., 80 miles; leased, 6*3 miles; total operated, 36*3 miles. In
April, 1881, a controlling interest iu the stock was purchased for the
Central Georgia, and a stock dividend of 100 per cent was afterward
declared in debenture certificates. Gross earn’s in 1886-87. $394,640: net,
$160,586; surplus over dividends and iuterest, $12,724; iu 1885-86,
gross, $397,259; net, $138,001.
(V. 45, p. 142.)
A tlantic Sc Nortluvest.—Line in progress aoross the
State of.
Maine as connection of the Canadian Pacific. Bonds negotiated in
Loudon May, 1887.
The Dominion Government grants a subsidy
for 20 years at $186,000, and Canadian Pacific guarantees the balance
of the interest, £28,013 per year.
(V. 44, p. 652.)

Atlantic Sc Pacific.—This corporation was chartered by Act of Con¬
gress July 27,1866. The Western division is from Isleta, near Albuquer¬

At Top. At Santa Fe, to Big Colorado River, 560 miles, with
Gallup Junction branch, 4 nrles. At Big Colorado River it meets the
line to Molave, Cal. (242 miles), leased by this Co. in 1881 from the
Southern Pacific of Cal. The Cal. Southern gives a through route to
San Diego on the Pacific coast. It leases also A. A P. Junotion to
AibuquoiqueN M.. 13 miles; total opera*od. 819 m. Also the Central
Division is finished from Seneca, Mo., to Sapulpa in the Indian Ter¬
ritory. 112 miles, aud operated by the St. Louis & San Francisco Rail¬
que, on

way

Co.

By the “ tripartite” agreement of Jan. 31, 1830, the Atcli. Topeka &
8. F. and the St. Louis As 3. F. guaranteed 25 per cent of the gross earn¬
ings over their lines to pay coupons, and large advances were made to
the A. A P. by both those companies. In Oct, 1886, the plan was made
to exchange the A. As P. litvt mort. bonds for the uev^50 year 4 per cent
bonds due iu 1937, guaranteed severally (but not jointly) bv the two
companies, each company guaranteeing one-half of each bond. (See
V. 43, p. 571, 559, 607.)
Stock authorized is $100,000,000, and
issued$64,810,300 (par $100), of which $51,302,600 is owned ny the At.
T.'As S. F. and the St. Louis As S. F. companies equally, and deposited
in trust tor thirty years. The stock is classed thus: Western Div., com.
stock, $4 1,750,000; Cent, and Mo. divs., com stock, $s,665,300; prof.,
$11,395,0 >0. Tin1, old pref. stock has no preference over the A. & P.
Western Division stock. An estimate of the income bond status and
prospects was in V. 45, p 3l0.
The Southern Pacific sold the 242 miles of road from Mojave to The
Needles, on the Colorado River, to the A. Ac P. Company for $7,271,100, payable in A. Ac P. 1st mortgage bonds, issued on said 242 miles,
to amount of $ 5,059.2 H> and $1,211,850 in cash.
Until clear title
to this piece of ro id is given, the A. Ac P. takes possession and pays
6 per cent per annum on the $7,271,000. The same negotiarion gave
aright by contract to run through trains to San Francisco over the
Southern and Central Pacitio lines on payment of rental either on a
mileage basis or at 3 per cent per annum ou $40,000 per mile. See V. 39,
p. 208; V. 40, p. 50.
The land grant claimed under the old A. Ac P. charter of July, ’66, is
25,600 acres per mile in Territories and 12,800 acres in States.
On
the West. Div. upards of 14,000,000 aer-s in New Mexico and Arizona
have been earned by construction, and in the Indian Territory 2,600,000
acres more, the best of these lauds being well adapted for grazing.
The
proceeds of sales of the company’s lands have so far been applied to pay¬
ment of interest on A. Ac P. bonds or the lands have been p edged and
conveyed in trust to the Atchison and San Francisco companies, and
nearly 6,060.000 acres have been so disposed of. F.»r sta’e nont as to
land sales. Aco., up to Jan. 1.1887. see Chronicle, V. 44. p. 751. A
map of the land grant was published in the CfiR »niolk, V. 36. p. 468.
Gross earnings m 1836 were $1,624,649; defied:; under operating ex¬
penses, $4i,3 4; received frmu A. T. A S. F. RR. Co. aud St. L. Ac S. F.
R’y Co., to be repaiif, $295,000.
No annual report since L381 lias been published. . (V. 43. p. 48. 216,
458, 503, 571, 607; V. 44, p. 21, 22, 148, 544, 751; V. 45, p. 340,
368, 612.)
Atlantic Sc St. Lawrence,—Owns from Portland, Me., to Island
Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk
of Canada, to which leased for 999 years, August 5, 1853, at a rental
equal to bond interest and 6 per cent on stock. The bonds for $541,
COO to city of Portland are provided for by accumulations of sinking
fund. The Grand Trunk RR. owns the 2d and 3d mortgage bonds,
$2,213,000. The stock of $5,484,000 is mostly £, with dividends pay¬
able in London. Gross earnings in 1885-86, $1,002,884; net, $255,814.

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AND CONNECTIONS.

[Vol




Subscribers will confer a great favor

For explanation
on

of column headings, Ac., see notes
first page

by giving immediate notice

of tables.

Date
Size, or
Par
of
Road. Bonds Value.

Miles
of

151
Atlantic dk St. Lawrence.—Stock
53
Augusta dk Savannah—Stock
80
Bald Eagle Valley—Gen’lmort.,(s. f. $4,000 per yr.>
1,733
Baltimore dk Ohio—Stock
Preferred stock
Loan due in 1880, extended
Loan, 1853, extended in 1885
do
1870 .sterling, £800,000, sink, fund
Baltimore loan, 1855-’90, sink, fund

Sterling mortgage,

sinking fund

Sterling mortgage, sinking fund
Purchase of Connells v. RR (payable $40,000 y’ly)

Loan,ster.,(8.f. £7,500) (B.O. ACh.bds collat’l)
Bonds (Parkersburg Branch bonds collateral) —

41 i
421

263
104

Bonds to State of Maryland

Equipment loan ($2,500,000) gold
c.
Sterling mortgage on Philadelphia Branch..
Bonds, gold (Pittsb. A Conuellsville b’ds collat’l).
Mott, on Schuylkill R. East Side RR., gold (guar.)
Consolidated mortgage (for $28,009,000)
Baltimore dk Potomac—1st M (tunnel) gold, s. f. 1 p. C.
1st mort., road, gold, coupon, s. f. 1 per cent
2d mortgage, income, road and tunnel, reg

Beech Creek- 1st mortgage, gold
Car trust 1 an
Belleville dk El Dorado— lst(int. guar. St.L.A.AT.H.)
2d mortgage
Belleville
South. 7//.—1st M. (int. & s. f. guar.)
Bells Oap. —Stock

150

1*3
90
92
129
52
52
56
25

mortgage

Extension 1st mortgage
Consol, mort. (for $550,000)
BelvidereDel—1st mort. due 1877,

[Vol. xlv

.

of any error discovered in tbese Tables.
Bonds—Print ipal.When Due.
Payable, aud by Stocks—Last
Whom.
Dividend.

INTEREST OR DIVIDENDS.

DESCRIPTION.

1st

S UPPLEME N T

INVESTORS

18

extended, truar.

64

$100
100
1880

Amount

Outstanding

Rate per

When

Cent.

Payable

M. A S. London and Portland.
Savannah.
J. A D.
6
J. A J. Phila. .F.Ins.Tr. AS. Dep.
4
M. A N.
Baltimore, Office.
do
do
3
J. A J.
do
do
4
J. A J.
do
do
4
A. A O.
6 g.
M. A S. Lond’n.BaringBros ACo
J. A J.
6
Baltimore, Office.
6 g. M. A 8. London, J.S. Morgan ACo
6 g- M. A N. London, LS.MorganACo
Baltimore, Office.
J. A J.
6
5 g- J. A D. Loncl., Baring Bros. ACo.
A. A O. Balt. AN.Y..D. M ACo.
6
J. A J.
Baltimore, Office.
6
4i* g. J. A J. Balt., Merc. Trust Co.
4i* g. A. A O. London, Brown,S. ACo.
New York Agency.
5 g. F. A A.
5 g. J. A D. Philadelphia, Agency".
5
6 g. J. A J. London or Baltimore.
Baltimore.
6 g- A. A O.
do
J. A J.
6
4 g- J. A J. N. Y., Gr’d Cent. Depot.
5
J. A J. N. Y. St. L.A.AT. H. RR.
7
do
do
F. A A.
6
A. A O. N.Y.St. L.A.AT. H. RR.
8
5
J. A J Phil.,Cassatt.Town. ACo
7
do
F. A A
6
A. A 0
0
6
J. A D. Philadelphia. Pa. RR.
3

$5,484,000
1,032,200

1,000

380,000

100
100

14,792,566
5,000,000

182-34576.

3i*

578,000

1853
1870
1855
1872
1874
1875
1877
1879
1878
1887
1883
1885
1886
1887
1871
1871
1875
1886
1887
1880
1880
1866

£100
£200

£200

1,000

1,6*00
£200

1,000
1,000
.

Angnsta Sc Savannah.—Owns from Milieu to Augusta,
Lea^ed to Central of Georgia for £/3,000 per annum

•

.

•

1,000
1,000
1,000

1,000
f

“

—

1,000

1873
1875
1883
1877

miles.

1,710,000
1,709,275
2,575,000
6,937,109
8,141,771
520,000
7,744,000

-

1.000

Ga., 53

Has no

bonded debt.

Where

3,000,000
366.000

2,000,000
11,616,000
10,000,000
4,500,000
(?)
1,500,000
3,000,000
2,000,000

5,000,000
300,000

....

220,000
330,000

1,041,000
550,000
250,000
100,000
189,000

....

1.000,000

1883-84.

of

Total
grain,
kinds
Livestock
Lumber

all
bush

tons,
tons,

1884-85.

Sept., 1887
June, 1887
Jan.

1, 1910

May l, 1887
July, 1887
At will.
Oct. 1, 1936
Mar. 1, 1895
1890
Mch. 1, 1902

May. 1910
1888-1900
June 1, 1927

April 1,1919
July 1 1888
10 p. c. yearly
April l, 1933
Feb. 1, 1925
Dec. 1, 1925

July 1, 1911
April 1,1911
Jan. 1, 1915

July 1, 1936

$37,500p.ann.
July, 1, 1910
Aug. 1, 1920
Oct. 1, 1896
Jan. 1, 1887
July 1, 1938
Aug. 1, 1059
April 1, 1119
1902

1885-86.

1886-87.

11,553,052 13,048,258 13,718,428 12,977,035
82,187
67,890
70,220
43 220
107,398
92,831
86,560
76,103

Eagle Valley.—Owns from Vail Station, Pa., to Lockhaven
miles; branch, Milesburg, Pa., to Bellefonte. Pa., 21* miles Through merchandiseEast and West
tons.
2,275,252 2,333,147 2,731,119 3,537,207
Snowshoe to Sugar Camp, 261s miles; total operated. 80 miles. Opened
December 7, 1804, and leased to Pennsylvania Railroad Company for 99.
Iu 1836-87 the net balance over all charges wa9 $36,258, which was
Bald

Pa., 51

years.

Rental, 40 per cent
$163,150; net, $231,719
is $935,000 (par $50),
fn 1886 paid 10 per

The branch is the property of the lessors.

of gross earnings.
Gross earnings in $1885,
Gross in 1886, $103,529; net, $208,427.
Stock
and dividends are paid according to earnings,
cent.

Baltimore Sc Ohio-(See Mop).—Line of Road—The B.AO. system
embraces roads in Md., Va., Penn., Ohio, fna. and Ill., which are clearly
shown on the accompanying map. By means of the Cincinnati
ton A Bait, via Parkersburg, the road has a direct route to Cincinnati.
The B. at O. mileage is: Main stem, Baltimore to Wheeling, 379 miles,
and branches. 272 miles, total, 051 miles; Washington Branch, Relay to

Washing¬

Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg,
104 miles; Central Ohio division, Bellaire to Columbus, 137 miles; Lake
Erie division, Newark to Sandusky, 110 miles; Chicago division, Chicago
Junction to Chicago, 271 miles; Pittsburg division, Cumberland to

Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling
& Pittsburg division, Glenwood to Wheeling, 60 miles; Straitsville divi¬
sion, Newark to Shawnee, 43 miles; Philadelphia Division, 99 miles;

Lauderhurg Branch, 20 miles; total operated, 1,783 miles. The Balti¬
more & Ohio Philadelpnia branch, connecting with the Balt. & Philadel.
RR., makes a line from Balt, to Phila., and thence via the Schuylkill Val.
& East Side RR. to a connection with the Phila. A Read, lines to Bound
Brook, N. J. Thence the proposed route to Staten Island, as noted in
Chronicle, V. 41, p. 611.

Leases, Ac.—The corporation was chartered in Mary¬
land Feb. 28, 1827, and in Virginia March 8, 1827. First section opened
May 21, 1830. The company was assisted by loans from the City of
Baltimore. The relations with the auxiliary branches and leased roads
are complex, but the B. & O. virtually owns nearly all of these east of
the Ohio River, and the total charges for rentals and guarantees are
moderate. The B. & O. Telegraph Co. was operated at a loss, but
its eaming8, expenses, &c., have not been reported, aud after tbe
change of ^management the telegraphic stock owned by the B. & O.
Railroad Co. was sold out to Western Uni ui for $5,009,0 0 Western
Union stock at par and a rental of $6(*,C00 per year for fllty years.
The B. A O. Express was sold in Sept., 1887, to the U. S. Express Co.
The B. A O. Railway Co. had a nominal surplus to credit of income
account Sept. 30, 1887, of $48,083,720.
Organization,

pref. stock carries 6 per cent dividends only.
The common stock has paid-in 1877, 8 per cent; in 1878, 8 in stock; in
1879, 4 stork and 4 cash; 1880, 9; in 1881, 1882, 1883, 1884 and 1885,
10; in 1880 8. Range in prices of common stock in Baltimore in 1881
was L83@210; in’82, 1903202; in ’83, 192^3205 ; in’84, 1673199;
in ’85, lOOVaTSS; in ’86,150 3>191; in ’67 to Sept. 10, inch, 1203>180.
The Baltimore
A Ohio direct bonds of
1879 on Parkersburg
Branch are secured by deposit of mortgage on that road. The sterling
mortgage of 1883 is made to William F. Burns, John Gregg and T. Har¬
rison Garrett, trustees, ami secured also by pledge of £1,000,000 1st
mort. bonds of the Balt. A Phila. RR. (Md. State line to Phila.)
The
bonds of 1877, due 1927, are secured by the mortgage bonds of the B.
O. A Chic, roads deposited as collateral. The B. & O. bonds of 1885 are
secured by $10,000,000 2d consol, bonds of Pittsburg & Connellsville
RR., deposited with Union Trust Co. of N. Y. as trustee. The bonds of
the Schuylkill Val. A East Side RR. are guaranteed by B. A O.; the
Pennsylvania Co. for Insurance on Lives, Ac., is the trustee.
The general purpose aud certain details of the consolidated mort¬
gage of 1887 for $28,000,000 were in V. 45, p. 368.
Stocks and Bonds—The

Operations, Finances, Ac.—The syndicate transaction in September.
1887, by which $5,090,000 of consol 5 per cent bonds and $5,000,000
of prel. stock were negotiated to pay off floating debt, aud the execu¬
tive control of the road was changed, was reported in the Chronicle, V.
45, p. 304, 368.

Fiscal year ends Sept. 30. The annual report for the fiscal year end¬
ing Sept. 30. 1887, was in the Chronicle of Nov. 26, but gave no par¬
ticular information concerning the company’s financial affairs or the
events tl at led up to tbe syndicate negotiation.
The general traffic in four years past is shown by the following table
of tonnage carried:

Coal and coke carried—
Ou main stem (tons)...
Of which for Co.’s use
On Pittsburg Div
On Trans-Ohio Divs
...

Total

Carried to Baltimore—
Flour
Wheat

Corn...,




bbls.

hush.

...bush.

1883-84.

3,268,521
439,912
2,157,696
966,458

1884-85.

3,487,170
443,544
2,003,982
909,594

6,392,675

6,400,746

1883-84.

1884-85.

717,258
6,415,550
3.472,940

766,163

3.383.859
8.383.859

1885-86.

1886-87.

3,673,488
489,361
2,427,238
1,329,681

4,209,477
553,114
2,137,227
1,168,859

7,430,367 7,878,603
1885-86.

1886-87.

752,150
3,137,159
9,474,275

1,274 542

6,600,027
5,223,770

carried to surplus.
The gross and net earnings of the main stem and its branches and of the
other divisions for the last fiscal year, as compared with 1885-36, were:

/—Earnings, 1835-86.—« —Earnings, 1886-87.—,
Gross.
Net.
Gross.
Net.
c

$9,846,613 $4,026,366 $11,201,343 $4,343,343

Main stem, etc

Washington Branch...
Parkersburg Branch...
Central Ohio Division.

325,320
663,044

231,506
161,347.

380,400
670,^30

291,561
83,957

1,270,476
1,013,014

478.52 1
309,711

1,283,526
1,030,463

2,098,568
2,430,035
446,259
114,767

269,916
812,421
13,450
15,246

2,070,031
81,122
2, >99,074 1,004,164
465,610 def 18,930

Totals
$18,422,437 $6,386,694
Results on all lines in five years have been:

$20,659,036 $6,538,904

Lake Erie Division..

..

Chicago Division
Pittsburg Division
Wheeling and Pitt. Div.
Philadelphia Division.
New’k Somerset A St’le

Years.

214,291

530,368
291,864

718,741 def. 76,220

35,208

183,010

Gross Earnings.

Operating Expenses.

$19,739,837

$11,034,014=55 89 p. o.
11,676,307=60 07 “

2,575

Net Earnings.

19,436,607
16,616,642
10,973,585 = 66 03 “
18,422,437
12.035,743 = 63*33 “
14.120.161=38 34 “
20,659,035
-(V. 43, p. 190, 244, 387, 458, 593, 605, 635, 671; V. 44,
400, 433; V. 45, p. 13, 52, 112, 178, 30 4, 368, 473, 509, 641,

$8,705,823
7,760,300
5,613,057
6.386,695
6,538,904

89, 343,
664.)

p

Baltimore Sc Potomac.—Owns from Baltimore. Md., to Soutli
End Long Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49
miles ; total, 92 miles—including tunnel in City of Baltimore. The road
is controlled by the Pennsylvania Railroad Co., and first mortgage bonds

guaranteed by Pennsylvania and Northern Central.
Capital stock,
$3,553,250. Iu 1885, gross earnings, $1,335,844; net earnings, $512,647; interest charge, $283,762; surplus $228,885. Li 1885, gross earnimrs. $l,3i3,'*91; net, $534,340; interest charge, $297,181; surplus,
$257,359., Income bonds wholly held by Penn. RR. Co. From Jan. 1 to
Sept 30. 4887 (9 months), gross earnings were $1,063,905, against
$986,129 in 1886; net, $395,598, against $392,896.
Shore, PaT, to Gazzam, 104 miles! branches
Philiipsburg, to mines, Ac., 25 miles; total, 129 miles. This is suc¬
cessor to the Beecli Creek Clearfield A S. W.
This company was firmed
on reorganization in 1886 witli the above mortgage bonds and $1,300,000
of preferred st »ck and $3,700,000 common shares $50 each.
In Jan.
and July, 1887, paid dividends of 21* per cent on pref. stock. In 1886
gross earniiurs were $179,116; net, $ie3,442.
Win. A. Wallace, Clear¬
field, Pa., President. (V. 44, p. 362, 459; V. 45, p. 13, 203.)
Beecli Creek.—Jersey"

to

Belleville Sc El Dorado.—An extension of Belleville A So. Illinois,
from Du Quoin to El Dorado, 52 miles, and leased to St. L. Alton A Terre
Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
15 per cent on all above that amount.
Rental received for 1884,

$15,171; for 1885, $15,463; for 1886, $15,707.

Belleville & Southern Illinois.— Owns

Duquoin, Ill., 56 miles. It was leased Oct.

Stock, $1,000,000.

from Belleville, Ill., to

1,1866,totheSt. Louis Alton A

Terre Haute Railroad Co. Lease rental 40 percent of gross earnings
up to $7,000 per mile (except on coal, Ac.), 30 per cent above $7,000
up to $14,000 per mile, and 20 per cent ou any excess of $14,000 per
Rental forl8S4, $158,799 ; for 1885, $157,917 ; for 1886, $166,108. In¬
terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees
Common stock, $130,000; pref. 8 per cent stock, $1,275,000, non-cumulative. Dividends on preferred stock past four yrears have been—5 in

and
mile.

1886; 5 in 1885; 5Lj in 1884; 6*4 in 1883; 51*

in 1832; 4** in 1831.

Bells Gap.—Bell wood,'Pa., to Irvona, Pa., 26 miles. Gross earnings
in 1834-5, $116,036; net, $78,830; interest paid, $34,479; dividends,

surplus, $27,851. Gross earnings in 1885-86, $160,232; net,
Of the consol, mortgage $350,000 is reserved to retire prior
issues. Stock was increased in 1883 to $550,000. Chas. F. Berwind,
Pres., Philadelphia.
Belvidere Delaware.—Owns from Trenton, N. J., to Manunka
Chunk, N. J., 67 miles; Mill ham Cut-off, 1 mile, Flemington RR., 12
miles; total operated, 80 miles. Leased to United Companies, and trans¬
ferred to Pennsylvania RR. March 7, 1876, by which operated as their
/Belvidere Division, and net earnings paid over as rental. In Feb., 1835,
the Flemington RR. Co. was merged in this. The 1st mort. and new 4
p.c.bonds are guaranteed by the Unite l Co’s. In 1833 netoarnings were
$467,670 and interest payments $269,713. In 1886, net. $154,252; int.,
$263,311. Capital stock, $1,150,000; par of shares, $50.—(V. 43, p.578.)
$16,500;

$78,239.

Bennington Sc Rutland.—Owns from Rutland to Bennington,
Vt., 57 miles; branch, No. Bennington to New York State Line, 2 miles ;
total, 59 miles.
Chartered as West. Vermont in 1845, and consolidate

d




Subscribers will confer a great

[Vol. xi,y.

notice of any error discovered in tbese Tables.

favor by giving Immediate

explanation of column headings, &c., see
on first page of tables^

Belvidere Del.-(ConVd)— Cons, mortgage
Consol, mort., reg„ guar, by Un. Co’s A

FlftmlTigt^yn RR. M. hds
.
Bennington A Rutland—1st mortgage

Date Size, or
Miles
Par
of
of
Road. Bonds Value.

notes

of 1876..
Pa. RR...

67
67
12
59
22
384

Amount

Outstanding

1,250,000
250,000
475,000
600,000
20,000,000
5,000,000
2,000,000

1,000
1,000

When

Whom.

Payable

Boston A Albany—Stock
Plain bonds, coupon or registered
Loan of 1S75, coup, or reg
Bonds issued to State for its stock
Boston Concord A Montreal—Old pref. stock, guar..
Com. and new pf. stock (new pf. stock is $540,400)

Sinking fund bonds ($624,000)
Consolidated mortgage bonds (for
Improvement mortgage bonds

1872

1858
1873

100
100
100 &o.
200 &c.

1881

1,000

186
186

166
166
717

Boston A Lowell—Stock T.
Bonds

!

Bonds

Improvement bonds.

Boston A N. Y. Air-Line—Stock,

100

620,000
250,000
500,000

54
50
68

pref. (guaranteed)

c*

100

500 &c.

1880

1,000

500,000

100

4,000,000
500.000

$1,000,000 authorized (par $50), and $502,000 issued. In 1885-6 gross
earnings, $205,922; net. $39.393; interest, $33,250; deficit, $2,857.
Gross earaings in 1835-7 were $198,763; net, $24,651; deficit under
interesr, $8,599.
Connecticut State Line to West Stock

bridge. Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, &c.,

omitted.
from Boston, Mass., to Albany, N. Y.j

quarterly dividend due in Oct. is usually

Boston Sc Albany.—Owns
202 miles; numerous branches,

tota1
formed (Dec., 1867)

103 miles; leased lines, 84 miles ;

The Boston & Albany was

by the consolidation of the Boston & Worcester and the Western rail¬
roads. The five per cent bonds of 1882 were issued to the State of
Massachusetts in exchange for 24,115 shares of B. & A. stock held by
the State, and in September, 1883, out of this stock a stock dividend of
10 per cent was made to stockholders. In 188 G another 313 per cent of
stock was given to stockholders.
From October 1 to Sept. 30 in 1886-7 (9 mos.) gross earnings were
$8,925,742, against $>*,298,730 in 1885-6 ; net, $3,067,395, against
$2,985,259; surplus over fixed charges, $1,811,209, against $1,747,676.
Fiscal year ends Sept. 30; report for 1887 was in V. 45, p. 611.
Passenger

Miles.
384
384
384
384

Mileage.

Freight (ton)
Mileage.

Div.
Net
Receipts.* p. ct.
$3,148,713 $2,362,836
8
7,637,982 2,344,305 *8
8,298,733 2,488,345
8
8,925,744 2,552,108
8
Gross
Receipts.

374,347,455
398,862,058
177,787,439 390,464,378
191,813,184 406,030,750
Net receipts include income from rents, &c.
-(V. 43, p. 22, 163, 514, 578 ; V. 44, p. 212, 586;
167.402,441
167,097,784

*

V. 45, p. 180, 572,

611,614.)

Concord Sc Montreal. — Owns from Concord, N. H., to
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton
Junction. 53 miles; Wing Road to Mt. Washington, 20 miles; leased
Boston

Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
In June, 1884, leased to Boston & Lowell. Of the sink, fund bonds due

in 1889, there are outstanding in the hands of other parties, $202,000, on
which interest is paid; the trustees holding $306,000 and the corporation
holding $116,000 on which no iut. is paid. Fiscal year ends March 31.
—

(V. 44, p. 525.)

Boston Sc Lowell.—Owns from
Salem & Lowell, 17 miles; Lowell

2,983,500

100

1873

purchase branches, coupon or registered

from

226,900
200,000
100,000
7,000,000
3,500,000
926,000

1873-4
1885

to Harlem Extension iu 1870. Since Sept. 10,1877, the Vermont division
(as above) operated by the reorganized Bennington & Rutland.
Stock

Years.

6 & 7
6

750,000

583

1st mortgage
Boston A Providence—Stock

operated 389 miles.

*6*

202,000

1.947.400
500,000
5.329.400
999,500
500,000

bonds

and for this reason the

2**

200,000

Salem & Lowell, bonds
Nashua & Lowell
do
Do
Boston A Maine—Stock
Bonds, coupon and registered

Berkshire.—Owns

2
7
6
5

Boston to Lowell, 27 in.; branches

-

A Lawrence, 12 miles; others. 22

miles; Middlesex Central, 20 miles; leased—Nashua A Lowell, 15 miles;
Stony Brook RR., 13 miles; Wilton RR., 15 miles; Peterborough Rail¬
road, 10 miles; Manchester & Keene RR., 29 miles;
Central Mass., 44
miles; total leaseo, 126miles; total owned and leased, 224 miles. Also
operates B. Con. A Mon.. 187 miles; No. of N. Hamp.. 83 miles, and Con¬
cord & Claremont, N. H., 90 miles; total in 1885-86, 717 miles.
In June, 1884, a lease of the North, of New Hamp. and the Bost. Con.
A Montreal railroads was made, and control of those roads was then as¬
sumed.
In March, 1887, the Northern lease was held void, and the

3*9
7
7
6
5

-

413
4
6
6
6
5
5
7
4
2
5
6
7

Jan.

1, 1916

Sept., 1925-27.
Jan. 1, 1916

Nov. 1, 1897

Q.-J. Stockbridge, Treasurer. July 1, 1887
Boston, Office. Sept. 30, 1887
Q.-J.

1\

3,858,000
800,000
1,000,000

1872
1875
1876
1879
1883
1885

Bonds

Bonds to

1,000
1,000

1875
1882

$2,000,000)....

Bonds
Bonds

100
100

Dividend.

J. & J. Treasurer. Trenton,N.J.
Various Philadelphia, Pa., RR.
J. & J. Treasurer, Trenton,N.J.
N. Y., Union Trust Co.
M. A N.

7
4
6
7

$1,200,000

1876
$1,000
1885-7
1,000
1876
1877

Rate per
Cent.

pal,When Due.
Where Payable, and by
8tocks—Last

183-7465. $39,*80.-(V

Berkshire—Stock

Bonds
Lowell A Lawr.,

Bonds -Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

SUPPLEMENT.

INVESTORS’

20

do

Feb.

A
&
&
A

A.
J.

0.

do
do

N.

Boston, Office.

J. A
A. A
J. A
J. A
A. &
M. &
J. A
J. A
M. &
M. A
A. &
a; &

J.
O.
J.
3.
O.
S.
J.
J.
N.
S.
O.
0.

Boston, Office.

F.
J.
A.
M.

m

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

»

m

&
&
&
A
&
A
&

.’i’,

Jan
1889
1893

do
do

do
do

1911

Boston, at Office.
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do

1, 1892

July 1. 1895
April 1, 1902
Nov. 21, 1887

July 1, 1887
April 1, 1892
March 1,1895
July 1, 1896
July 1, 1899
May 1, 1903
Sept. 1, 1905
Oct. 1, 1897
Oct. 1, 1898

.

1S91
1900
Nov. 15,1887

m

N.
Boston, at Office.
do
do
J.
Jan.,1893&94
1905
A.
O. N.Y., N.Y. N. H & H. Co. Oct., 1, 1887
do
do
A.
Aug. 1, 1905
Nov. 1, 1887
N.
Boston, at Office.
do
do
J.
July 1, 1893

ter railroads for 50 years from Jan. 1. 18S6. were confirmed by vote of
stockholders. In June, 1837, a lease of the Manchester A Lawrence
road was made for 50 years, and a lease of the Boston & Lowell for 99
years was also made, including the lines

controlled under lease by that

company—the Boston Concord A

Montreal, the Connecticut A Passump¬

sic, Ac.
The fiscal year ends Sept. 30.

Annual report in V. 43, p. 717.

INCOME ACCOUNT.

Receipts—
earnings
Net earnings.

Gross

Rentals, interest, Ac

Total income.
Disbursements—
Rentals paid
Interest on debt
Dividends
Eastern (under lease)

Total disbursements

-(V. 43, p. 607, 717; V. 44, p.

1855-86.
$7,253,881
$ .’,c 00,472

$2,350,553

$2,790,281

$!,225,526

(8 p.

Balance surplus

1884-95.
$6,232,096
$3,07109)
279,463

266,424
c.)_ 560,0( 0

289,809

-

$ ,365,117

255,440
(O^p. c.) 665,000

158,603

469,724

$2,210,553

$2,‘,55,281

$35,000
184,369,458, 544, 807 ; V. 45, p. 538
$140,000

612.)

Boston Sc New York

Air Line.—Owns from New Haven,

Conn.,

WillimantiCf Conn., 50 miles; leased, Turnerville to Colchester, 4
miles; total operated, 54 miles. Formerly the New Haven Middletown
A Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& Hartf.
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
interest on the bonds; the common stock is $834,900.
to

Boston Sc Providence.—Owns from
R. I., 44 miles; branches, 20 miles; leased,

Boston, Mass., to Providenoe

Attleborough to North Attle¬

borough. 4 miles; total operated, 68 miles. In November, 1887, the
directors authorized $2,000,000 bonds to pay floating debt, and agreed
to a lease for 99 year
to Old Colony RR. at 10 per cent yearly
on
stock aud a bonus of $1,300,000 cash on execution of lease
(subject to the necessary legislation and the ratification by stockhold¬
ers).
Notes outstanding Sept., 1887, were $760,000.
In year ending
Sept. 3o, 1887, gross income was $1,905,495; not, $470,863; surplus
over interest and dividend (10 per cent), $48,873
In 1885-86, gross,
$1,784,305; net,
43. p. 605 ; V 45, p.433, 612,627,
641, 672.)
Bradford Bordell Sc Kinzua—(3:foot gauge)—Mileage from
Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City,
2 miles; Rew City toEldred, 12 miles; Simpson to Smethport, 10miles;
In Nov.. 1885,
total, 39 miles. Stock is $500,000, par of shares, $100.
bondholders subscribed 5 per cent on their bonds to resume payments.
Gross earnings in 1885, $71,897 ; net, $19,775.
Gross earnings In
1836. $74,130; net, $10,226, John J. Carter, Titusville, Pa., Pres’t.
Bradford Eldred Sc Cuba.—Owns

from Eldred, Pa., to Bolivar

Little
bonds
begun
company resumed possession.
1885, .and
In June, 18w7, the Connecticut A Passumpsic Road was leased and a
lease of the B. A L. and all its branches to the Boston A Maine was $28,526 certificates authorized. Gross earnings in 1894-85, $42,856;
effected by vote of stockholders on June 21, and in Oct., 1887. the lines def. $1,393; def. under interest, taxes, etc., $36,010; gross in 1835-88
$45,824; deficit, $10,963; interest, $33,600; total deficit, $11,563.,
passed to the Boston A Mai: e management.
The company had $920,000 notes
ings, etc., have been as follows:

outstanding Sept. 30. 1886.

Total income

Operating expenses
Net income
Disbursements—
Taxes
Rents
Interest

.

Total disbursements
Balance
Dividends, 6 per cent

Surplus
—(V. 43. p. 190, 174, 579, 773 ; V. 44, p.
45, p. 512, 538.

Earn¬

1884-85.

1885-86.

$4,037,439

$4,628,380

2,623,434

3,184,470

$1,414,005

$1,443,910'

$163,204

$170,175

702,543
263,282

71-,508
253,084

$1,129,029
$284,976

$1,141,828

251,151

290,133

$302,0s7

$33,825
$11,954
59,369, 458, 544, 751, 807; V.

Boston
Sc Maine.—Owns from Boston. Mass., to Portland
Me., 115 miles; branches, 11 miles; leased—Boston to New Hamp. State
line 41 miles; N. Hamp. State line to Maine State line 16 miles; Maine
State line to Portland .31 miles; Conway Junction to North Conwav73
miles; Worcester, Mass., to Rochester, N. H., 94 miles; numerous short
branches, 187 miles; total operated Sept. 30, 18.86. including East¬
ern, 584 miles, less 3 miles leased.
In March. 1883, voted to lease
the Eastern RR. of Massachusetts, but after litigation the lease was held
to bo invalid and a new one was made in December, 1884, on the oasis
stated under title of the “ Eastern” in this Supplement.
In Dec., 1885,
leases of the Worcester Nashua & Rochester and the Portlaud& Roches¬


i


and Wellsville, N. Y., and branch to Ricliburg, and Cuba to
Genesee, 54 miles. Stock, $480,009. There are also 2d mortgage
for $60,000, 6s, which were due June 1, 1885.
Foreclosure suit
in February, 1885. Tims. C. Platt app fluted receiver in Oct.,

1886, $90,243. K. G. Taylor, President.
Brooklyn Elevated.—Line of road from Fulton Ferry and Urooklyn Bridge via Broadway, «fcc., to East New York, 63* miles. This
is the Brooklyn Elevated Railroad organized May 29, 1881, as succes
sor to the Brooklyn Elevated Railway sold in foreclosure May 12,1884.
The capital stock is $5,000,000; the second mortgage bears 3 percent
interest till July, 1888 and 5 per cent thereafter.
After 1888, if net
earnings suffice, a sinking fund of one per cent will purchase 2d mort¬
gage bonds at 90, and after 1889 a like sinking fund will purchase let
mortgage bonds at 105 —no bonds drawn. The balance sheet of Sept. 0,
1887, was in V. 45, p. 538.
From October 1 to Sept. 30, in 1836-7 (12 mos.) gross earnings were
$520,519 ; net, $229,440; deficiency under charges. $22,491.
annual report to State Commissioner for year ending Sept. JV
The

Total deficit to Sept. 30,

1886. gave gross

earnings $518,480; net, $139,108;

total payments,

$203,772; net deficit, $64,312. Henry W. Putnam, President.—(V.
p. 693; V. 44, p. 212, 654; V. 45, p. 212, 512, 538, 673.)

4J»

67 miles;
Long
tne
sola
cumulative. R
October, I®'*'*
at 25 per cent of the net earnings of the whole Long Island RR. system*
including its leased lines. No rental has been reported as paid* and ao
public reports are issued. L. I. RR. guarantees iuterest on $7oO,U9u
of the bonds, and both principal and iuterest on $250,000. Daniel Lord,
Brooklyn &

Montauk.—Brooklyn to Eastport, L. I.,

Fresh Pond Junction, 1 mile; to Rockawaj, 6 miles,
total, 77 miles.
This was first the South Side Railroad of
Tslaml, which was foreclosed Sept. 16, 1874, and reorganized as
Southern of Long Island. On June 3. 1879, the property was again
in foreclosure of the second mortgage, and this company organizes
The preferred stock has a preference of 7 per cent, not
is leased to the Long Island Railroad for 50 years, from
branches

to

President F. B. Lord, Secretary.

Now York City.

(V. 44,p. 808.)J

November,

Subscribers will confer a great
rFor

INTEREST OR DIVIDENDS.

of

Bradford Bordell dk Rinzua—1st mortgage
Bradford Eldred dk Cuba—1st mort
Brooklyn Elevated—1st mort., gold
c*
2d mortgage, 5 per cent after July, 1888, gold.c *
Brooklyn dk ALontauk—Stock ($1,100,000 is pref.)

^pirstmort., guaranteed by Long Island RR—c *
do
do
int. guar by L. I. R. R
Brunswick dk Western—1st mortgage, gold
Buff.Brad.<6 Fitts— Gen.M.Jincl. 10,000 ac. I’d) —
Buffalo New York dk Erie—Stock
First mortgage

•

R. A P.
B. A P.

Buffalo dk
"

A P. 1st more...

Inoome mortgage

in 3 series...

Southwestern.—Stock (one-half of it pref.)

First mortgage
Iowa

Ced.

....

171
26
142
140
108
258

1st M., gold, guar

Consol. 1st mort A collat. trust, gold, coup. A reg.
Cairo Vincennes dk Chic. —J st M. bds., gold (Wabash)

California Pacific—1st mort., gold (ext’d’d at 4*2)
2d mort., eud. by Cent. Pao
3d, mort. guar, by Cal. Pac.($1,000,000are3s) ...

Camden dk Atlantic—Stock ($880,650 of
let mortgage (extended 20 years in

....

67
67

it pref.)—

1873)

extended In 1870
Consol, mortgage (thirty years)
Camden dk Burlington Co.—1st mortgage

369
73
55
177
All
266
114
114
114
78
78

2d mortgage,

Brunswick Sc Western.—From

31

Amount

1885

1,000

1,250,000

100

2,000,000

1,000

250,000
750.000

1881

....

....

2,500,000

500AO.
1,000

1883
....

580,000

950,000
2,380,000
1,300,000
3,681,000

100

....

1876
1881
1882
1881
Var’s

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

1,000
1,000
1,000

943,666
1,500,000
5,500,000
6,500,000
584,000
825,000
1,905,000

l,000Ac

4,716,000

....

....

1877
1876
1879
1880
1881
1884
1881
1867
1871
1875
....

1853
1854
1881
1867

1,000
100
lOOAc.

1,000
1,000
1,000

3,857,000
2,250,000
1,600,000

500
50

3.000.000

1,000

5
7
6
5
5
5

497,000

500Ae

350.000

8. N. Y., Corbin Banx’g Co.
do
do
S.
None ever paid.
J.
J. N. Y. L Erie A W. RR.
D. N. Y. L. Erie A W. RR.
do
do
D.
A. N. Y., Union Trust Co.
do
do
A D.
do
do
Gallatin Bank.
Various

Mar.
Mar. 1. 1911
Jan. 1, 1913
Jan. 1, 1896

.

$1,915,462, against $1,302,014 in 1885-86; net, $547,v74, against
$334,04?; surplus over interest, taxes and rentals, $172,764, against
deficit of $14,871.
The income accounts of the R. A P. for the years ending Sept. 30 were as
follows:

Receipts—
Crossearnings
Net income (including miscellaneous)

....

1885-6.

1884-5.
$1,216,680

$1,299,362

$336,707

*390,357

348,272
117,166

352,106
56,128

Disbu rse men's—

Interest
Rental and miscellaneous

$465,438
def. $128,731

Balance

Walston H. Brown, N. Y

,

$408,234
$17,877

def.

President.

-(V. 43, p. 218, 369, 398, 579. 608, 634, 738;
402, 781 ; V. 45. p. 25, 240, 373, 400, 538, 613,

V 44, p. 212, 309, 392,
673.)

Buffalo A: Southwestern.— Owns from Buffalo to Jamestown,
N. Y., 67 miles.
Formerly’ the Buffalo A Jamestown; reorganized
in 1877, after foreclosure. In Julyr, 1880, leased to New York Lake
Erie A Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed! Rental in 1885-86, $90,831.
When earn¬

ings have been sufficient a small

dividend has been paid on pre!. stock.

.

A D. N. Y.,

g.

g.

J.

g.
g.

on

350,000

N. Y., 1st Nat.

J.

A J.

pref

A. A O.

7 g.
6
6
6

J.

A J.

l‘, 1*911

Junel, 1887
Dec. 1, 1916
Feb. 1, 1921
Dec. 1, 1922
1921
Various.

Bank.

Central Trust Co. June 1. 1906
do
Sept. 1, 1909
Oot. 1, 1920
do

do
do
do
do
Last paid,

1. 1921

Oct.

do
do

April 1,1934
Oct. 1, 1931
Jan., ’84
N. Y., Eugene Kelly A Co Jan. 1, 1912
N.Y.,80. Pac. RR. Office Jan. 1, 1891
do
do
July, 1905
Oct. 1, 1887
Camden, Co.’s Office.
Phila., Farm. A M. B’k. March. 1893

A. A O.

A J.
F. A A.

J.

1. 1904

Oct.

do
do
do
do
Phila.. Penn. RR. Co.

What the effects of the

three months.

1, 1915

July

Oct., 1885
July 1, 1908

.

M. A S.
A. A O.
A. A 0.
A. A O.

July 1, 1911
1897

Inter-State Commerce law will,

only be surmised, but we should

for four years as follows :

In November, 1887, a new mortgage for $10,000,000 was authorized,
of which $6,600,000 should be reserved for prior bonds.
From Oct. 1, 1886, to Sept. 30. 1887 (12 months), gross earnings were

.

.

J.

Pittsburg.—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles.
Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out¬
standing bonds, $40,600 a year. Capital stock, $2,286,400.
Buffalo New %ork Sc Erie.—Owns from Buffalo, N. Y., to Cor¬
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the N. Y. Lake Erie & West. Co.
Rental,
$238,100—viz., 7 per cent on stock and bonds and $5,000 for organiza¬
tion expenses. Dividends and interest paid directly by the lessees.
Buffalo Rochester Sc Pittsburg Railway.—(See Map.) Owns
from Rochester, N. Y., to Clayville, Pa., 229 miles; Buffalo Branch from
Ashford to Buffalo, 48 miles; other branches, 17 miles; total, 294 miles.
This company was formed in March., 1887. as successor of the Roch¬
ester .v PitTsburg and the Pittsburg A Stare Line RR., which were fore¬
closed in Ocr. 1885 and purchased by Mr. A. Iselin
That portion of the road lying in Pennsylvania was known as the Pitts.
& State Line RR. Co. The consolidation of the companies in New York
and Pennsylvania was delayed by litigation till March, 1887.
The preferred stock of the consolidated company is $6,000,000 (en¬
titled to 6 per cent dividends, non-cumulative), and common stock,
$6,000,000.

.

A

be on the earnings can
crease.”
From Jan. 1 to Aug.

Buffalo Bradford Sc

.

J.

Columbus, Ga. Tills was formerly the Bruns¬
wick A Albany; the present company has $3,500,000 stock. Gross earn¬
ings in 1886, *326.216; net, $46,819. In 1885, gross, $283,129; net,
$20,719. E. W. Kinsley, President, N. Y. City.- (V. 45, p. 512.)

and 83 miles projected to

A
A
A
A
A
A
A

4bj g. J. A J.
6 g- J. A J.
J. A J.
3 A 6

1,257,100 2
490,000

1,000
1,000

Brunswick to Albany, 171 miles,

6 A 7
2
6 g.

Stocks—Vast
Dividend.

June 1, 1932
Jan. 1, 1932
Oct. 1, 1924

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

7
6
6
6

478,000
810,000

1,000

Whom.

A D. Bradf’d, Pa., Co.’s Office
A J. Last paid July*, 18*4.
A O. N. Y., Cent. Trust Co.
do
A J.

J.
J.
A.
J.

6 g.
5
5 g.
7

pal,When Due.

Payable, and by

Where

Payable

6
6
6 g.
3-5

$498,000
500,000
3,500,000

$500
1,000
1,000

When

Rate per
Cent.

Outstanding

1882
1881
1884

1,039
t

City A Western, 1st mortgage, guar
Rap". I F.A N.W., 1st M., g., guar.,red.aft.’90
do

41
54
6*9
6*9
77
77

....

Equipment bonds (car trust)

mortgage bonds, gold
Burlington 0. Rapids dk Northern—Stock
1st

Date
Size, or
Par
of
of
Road. Bonds Value.

Miles

headings,
Ac., see notes
on first page
tables.

Buffalo Rochester dk Pittsburg.—R
R. A P. Consol, mortgage

discovered in these Tables.
Bonds—Princi

favor by giving immediate notice of any error

DESCRIPTION.

explanation of column

21

BONDS.

AND

STOCKS

RAILROAD

1867.]

anticipate a de¬

31 in 1887 (8 mos.), gross earnings were

$1,812.-

$379,275, agst $381,606 in 1886,
report in V. 44, p. 619, gave net income, Ac.

268, against $1,721,803 in 1886; net,
For 1886 the

annual

FISCAL

Miles

operated
Earnings—
Passenger
Freight
Mail, express, Ac

...

Tot. gross earnings
Oper exp. and taxes
Net earnings
P.c. op. ex. to

earn’s.

RESULTS.

1883.

1884.

1885.

1886.

713
$
654,746
2,117,949
90,859

990

$
666,622
2,024,175
105,362

990
$
691,174
2,284,542

2,863.554
1,968,177

2,796,459
1,917,769

117,797
3,093,513
2,189,543

895.377
68*7

878,690
68’5

903,970
70*77

1,039
$
662,485
2,141,646
129,178
2,933,309
2,132,404
800.906
72’70

INCOME ACCOUNT.

1883.

Other

receipts

Total income
r>/n/ii/t* <?/>

Interest

on

1886.

895,378
48,596

$
903,970
83,798

$
800,905
63,252

943,974

909,798

987,768

864,157

debt

521,232

573,663

742,275

749,898

89,942

68,778

294,904
44,802

10,774
28,617

70,794

41,925
25,056

950,880
681,832
880,050
def.6,906sur.227,966 sur. 107.718
516, 745; V. 44, p. 90, 184, 494, 619.)

Tot. disbursem’ts

-(V. 43, p.

1885.

to

Const’n&improvem’t
Equipment
Other expenditures..
Balance

1884.

$
878.690
31,108

$

Receipts—
Net earnings

3,042
45,605
8.278

8)6,823
sur.57, i->4

Cairo Vincennes Sc Chicago.—Cairo to Tilton, III., 258 miles;
branch, St. Francisville to Vincennes, 8.; total, 266 miles. This was a
consolidation of tue Cairo A Vincennes, Danville & S. W. and St. Franclsvillo A Lawrence roads, forming the Cairo Division of the Wabash St.
Louis*A Pacific. The latter company issued its own bonds secured on
this road 'or $3,857,000, and after default the road was surrendered
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Tracy,

April 27, 1885. In July, 1887, a decree was entered by* consent releas¬
ing this road from liability* on all Wabash claims. Receiver’s certificates
for $666,1**7 have boon issued. From Jan. 1 to Sept. 30, 1887 (9 mos.),

earnings were $557,884, against $470,430 in 1886; net, $181,314,
against $106,18v). In the year ending April 30, 1887, gross earnings
were $710,66 .; net, $161,263.
(V. 43, p.479; V. 44, p.494; V. 45, p*

gross

214, 614.)
California Pacific.—Owns from

Vallejo, Cal., to Sacramento, Cal.,

branches—Vallejo Junction to Vallejo, 2 miles; Adelaide to
Calistoga, 35 miles; Davis to Knight’s Landing, 19 miles; total oper¬
ated, 115 miles. Leased for 29 years, from July 1, 1876, to Central Pac.
Rental, $600,000 per annum, and three fourths of net earnings when
61 miles;

Burlington Cedar Rapids Sc Northern.—Ou Jan. 1 *87, oper¬
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, Ta., to Postville, la., 94 miles; Mus¬ in excess of that amount. Capital stock, $12,000,000. In 1886, gross
catine, la to Riverside, la., 31 miles; Vinton, la., to Holland, Ta.t 48 earnings were $1,233,641; net, $i!74,082.
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Camden Sc Atlantic.—Owns from Camden, N. J., to Atlantic
Division, 81 miles; Decorali Division, 23 miles; Iowa Falls Division, City*, 60 miles; Atlantic City to Longport, 7 miles; Phil. Marl. A
430 miles; Waverly Division, 6 miles; total operated, 1,039 miles. The Med.
RR.; Haddonfield to Medford, 12 miles; total operated, 79 miles.
former company* was organ ized as the Burlington Cedar Rapids A
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com.
Minn., June 30, 1868. Defaulted Nov. 1, 1873. Property sold under if more than 7. From Jan. 1 to Sept. 30, 1887 (9 mos.), gross earnings on
foreclosure June 22,1876, and this company was formed byr the pur¬ main lino and branches were $572,782, against $500,640 in 1886 ; net,
chasers. In May*, 1885, a decision was obtained by: the holders of old $155,932, against $136,788.
equipment and 2d mortgage bonds of 1874, in the case of Simmons
Ou main line and branches in 1885, gross earnings were $561,347; net,
against this company, holding those bonds to be good against the road, $134,143. Hi 1886, gross, $599,690, net, $129,775; other income,
and giving defendants the right to redeem the property* on payment
$20,802, total, $150,578; deduct interest, rentals, Ac., $38,968; sur¬
of amount tound to be due, which is about $1,600,000.
The ease is plus, $51,610. (V. 44, p. 494.)
pending.
Bonds of the Cedar Rapids Iowa Falls A Northwestern road are en
Camden A Burlington County.—Owns from Camden, N. J.,
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem- to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount
able at 105 after Oct. 1, 1890. Of the 5 per cents $825,000 are reserved
Holly*, 7 miles; total, 30 miles. Leased to Camden A Amboy Railroad
to retire the 6 per cents.
The company* guarantees the above bonds Co., and now operated by the Pennsy lvania Railroad Company, lessees
mentioned, and also guarantees $150,000 of Minncap. & St. Louis bonds. of United Railroad A Canal Company’s lines. Lease rental, $44,415.
In April, 1884, for tlie purpose of issuing additional bonds for exten
being 6 per cent on stock and bonds, and $500 for organization ex¬
sions, the limit bf authorized capital stock was raised to $30,600,000. penses. Capital stock $381,925 and funded debt $350,000. Dividends
The consolidated bonds arc dated April 1,1884, and issued at $15,000 per iu January and July*. Gross earnings in 1886, $216,055; net, $63,632.
mile to build new road, and secured by first mortgage bonds on the
Canada Southern.—Line of Road—Main line from International
roads built, deposited with the trustee of this mortgage.
The roads
thus built to Dec. 31, 1885, were the Cedar Rapids A Clinton. 82 miles, Bridge to Windsor, Out., 226 m.; branch, Amlierstburg to Essex Centre,
$1,200,000 bonds; Chicago Decorah A Minnesota, 23 miles, $348,000 16 miles; Fort Erie Br., 17 miles; Oil Springs Br., 3 linles; St. Thomas,
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and Ont., to Court right, Out., 63 miles; Erie A Niagara, 31; Sarnia Chatham A
Erie, 7; Canada Southern Bridge A Ferry*, 4; Toledo Canada Southern A
Dakota Division, 386 miles. $3,063,000 bonds
Detroit, 56, and Michigan Midland A Canada, 15; total of all lines
The annual report for 1886 said: “ The earnings of this railway* for
the current year did not equal the previous year, on account of de¬ operated, 436 miles, of which 105 miles are nominally owned by proprie¬
creased tonnage in through business, and lower rates on both through tary companies under separate organizations.
The Canada Southern Railway Company was chartered in Canada
and local business. The business of 1887 has opened fairly* for the first
,




23




INVESTORS’

SUPPLEMENT.

|Vol. zlv,

November,

Subscribers will

confer a great favor by giving Immediate notice of any error

DESCRIPTION.

ciiTerDlanation of column headings, Ac., see notes
on

Canada,

first page

of tables.

Sauthem—Stock

Miles
Date
of
of
Road. Bonds
436
404
404

-

lftmort., interest guar, by N.-Y. C. & Hud. Riv..
2d mortgage, coup, or reg
Canadian Pacific-Stock (guar. 3 p. c. div. till ’93). 4,464
rjwiftda Central RR. 1st & 2d mort. bonds
•

N. S. RR..
(redeemable at 110)..
Cv Fear'd Tad. Yal.—1stM.,ser.A $10,0( 0 p.m c*Ar.
Carolina Central—1st mortgage, gold, coup, or reg.
2d mort., gold, income, reg., non cumulative
mort.. gold, income, reg., non cumulative
Carson <t Colorado—1st mortgage. Series “A /
^Second Division mort., “ Series “B.”
Catavissa Common stock
^Preferred stock ($2,200,000 is ol I pref.)
due on Q. M. O. & O. and

Quebec Prov.

f*nd mortgage bonds, gold
iHtmort. debent. sterling

Mortgage

2d mort.

•

•

....

2,856
150

242
242
158
158

43*2
98
98
93
34
61
100

bonds

Susquehanna—Stock
Cedar Falls & Minn.—Bonds on 2d div.. sink. I’d...
central Branch Onion Pac, tic—1st-mort-., gold —
’'Funded interest bonds (coupons held in trust). ..
dt

•

«...

v

fuivuaa

discovered in these Tables.

Bonds—Ph-incl -

INTEREST OR DIVIDENDS.

'

r

33

BONDS

STOCKS AND

RAILROAD

1887,)

....

100
730
620

(Government subsidy)

Central R. R. & Bank, Ga.—Stock
funeral mort. “tripartite” bonds,
0*
Collateral trust bonds, gold, redeem. at,110 .. c*
Certificates of debt (for dividend)
c*
Ocean SS. Co., guar.. 1st mortgage
Central Iowa— 1st mortgage
n«bt certificates, issued for overdue coupons—
"

•

•

•

•

....

....

189
....

124
89
97

gold, Eastern Division
I1L Division, 1st mortgage ($16,000 p. m.)
1st mort. on branches ($12,000 per mile)
let mortgage,

Si ze, or

Amount

Par

Outstanding

Value.

Rate per

When

Cent.

Payable

Ik

$15,000,000
13.858,441
5,100,000
1,000Ac
100
65,000,000
1,823,333
7,000,000
$100
1,000

1878
1883
....

5

5

lk
5 A 6

....

....

....

5
5 g.
5 g.
6 g
« g.
0 g6 g.
6
6

....

3,527,000
34.998,633
1,500,000
2,<"00,000
1,200,000
1,500,000
2,250,000
510,000
1,159,500
3,200,000

500 Ac.
£100 Ac

1881
1885
18s6
1881
1881
1881
1881
1883

$1,000
1,000
1,000
1.000

1,000
1,000
50
50

188*2
1870
....

1866
1866
1879
’66-7-8

500 Ac.

1,300,000

100
500Ae.

589,110
1,377,000

1,000
1,000

1,600,000

6
7

4k

630,000
1,600,000

1.000
100

1872
1887
1881
1882

1,000
1,000

7,500,000
5,000,000
5,000,<t00

100

4.600,000

1,000

1879
1880
1882
1882
1882

500AC.
500 Ac.
1,000

987,000
3,700,000

....

3k

230,500

1,000
1,000

,

-

629,000
619,000
612,000
127,000

7
6
7 g.
6
4
7
5 g.
6
6
7
7
6 g.
6
6

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

pal.When Due,

Where Payable, and by
Whom.

Stocks—Last
Dividend.

N. Y., Grand Cen. Dep. Aug. 15, 1887
Jan. 1, 1908
N. Y.. Union Trust Co.
Mar. 1, 1913
do
do
N. Y. Office. 59 Wall St Aug. 17, 1887
1899 A 1910
Montreal.
do
Mar. 4, 1902
Montreal ,N. Y. orLondon Oct. 1, 1931

London, Baring B. A Co. July 1, 1915
N.Y., Farm. L.A Tr. Co. Juue1,1916
N.Y., Farmers’L. A T.Co. Mch. 31, 2000
New York, Office.
July 1, 1915
do
do
July 1, 1910
July, 1911
July 1, 1913

Philadelphia Co.’s office Nov. 18, 1887
Feb. 1, 1902
Phila., Phila.A Read.Co.
Feb. 1, 1C01
do
do
F. A A.
J. A J. New York, 44 South st
July 1, 1887
Jan. 2, 1907
J. A J. N. Y., J. Ken. To l A Co
M. A N. N. Y., 195 Broadway,
May 1, 1895
do
do
M. A N.
May 1, 1895
U.S. Treas., at maturity
1896, ’97, ’98
June 22, 1887
J. A D.
Savannah, Ga.
J. A J. N.Y.Nat.City Bk.,ASav. Jan. 1, 1893
New York.
M. AN.
May 1, 1937
After 1891
J. A J.
Savannah, Ga.
Jan. I, 1892
New York.
J. A J.
J. A J. Last paid July, 1886.
July 15. 1899
3 mos. notice.
A. A O. No interest ever paid.
A. A O. Last paid April, 1884
April 1, 1912
1924
A. A O. Last paid April, 1884
1912
Last paid April, 1884
A. A O.
M. A N.

....

Defaulted, and receiver placed in possession April 5, 1876. Sold in fore¬
and the main line opened Nov. 15, 1873. Default closure
May 31, 1880, for $1,200,000. In ’85-86, gross earns, $477,484;
forming the existing company was
$151,752; in ’86-7, gro-s, $500,266; net, $183,773 surplus over
completed in 1878. Interest on the 1st mort. is guaranteed by the New net,
Ac $39,190. Wilmington Bridge bonds, $215,000, at 7 per cent,
York Central Railroad Co. for 20 years; but the principal is not guar¬ interest,
are guaranteed by this Co. and the Wil. Col. & Aug., and interest paid.
anteed. In Nov.. 1882, a close contract was made with the Michigan
The stock of $1,200,000 was placed for five years from Nov. 1, 1879, in
Central for 21 years from Jan. 1, 1883, providing for the operation
the hands of the reorg. committee, but is now all issued to 2d mortgage
of the Canada Southern by the Michigan Central, also for the placing of
bondholders.
the total earnings of both roads in a common treasury, out of which is to
Carson Sc Colorado.—(3 foot gauge.)—From Mound House Nev., to
be paid, first, the operating expenses of botn roads; second, the fixed
Candelaria, Nev., 158 miles; Junction, Nev., to Keeler, Cal., 141 miles ;
charges of both; third, the division of the remainder between the two, total 299 miles. Road follows the
valleys along eastern side of Sierra
In the rate of two-thi ds to the Michigan Central and one-third to the
Nevada Mountains and may eventually join Southern Pacific at Mojave.
Canada Southern. In i 886 the surplus to C. S. was $407,335; lor 6 mos.
II. M. Yerington,
1887, surplus $170.ui0. For latest reports of earnings see Michigan Stock, $6,380,040 authorized; $2,760,000 issued.
Pres’t, Carson. Nev.
Central. (V. 43, p. 23, V. 44, p. 21,581; V. 45, p. 5,25.)
Catawlssa.—Owns from Tauianend, Pa., to Williamsport, Pa., 94
Canadian Pacific. —(See Map.)—The whole road extends from
Montreal to Vancouver on the Pacific coast in British Columbia. miles; branch, Summit Station to Silver Brook, 4 miles ; total operated,
98 miles.
Leased from Nov. 1, 1872, for 999 years to Philadelphia A
Feb. 28, 1868,
waa

made, and a reorganization

,

2,906 miles.

There are. branches and auxiliary

liues owned of 925

miles, and 821 miles of leased lines, making the whole system 4,651
miles, of which 187 miles were not quite finished on Jan. 1, 1887. fSee
details in Chronicle, V. 44, p. 658.) The road was opened throughout
the first of July, 1886.
In Nov., 1883, leases were made of the Ontario A Quebec system, in¬

cluding the Credit Valley Railway and Toronto Grey and Bruce, about
with bridge facilities at Montreal, and in 1886 least d
Atlantic & Northwest ( ee that company).
590 miles in all,

charter

This company was incorporated February 18, 1881. under a
from the Dominion of Canada. The company had an important con
tract in its charter, receiving from the Government $25,000,000 iu cash

aa a

«■

subsidy, also 25,000,000 acres of

land, all to be fit for settlement.

The Gov’t also conveyed to the company, free of all cost, 713 miles of
road. The eo. also acquired 449 miles of road and branches from Montreal
vestto Callcndar, subject to $5,423,333 in lien&on those roads.
In Nov., 1883, the Dominion Government gave a guarantee of 3 per
cent dividends per annum for ten years on $65,000,000 of stock.

By final agreements with the Dominion Government, in April, 1886, a
settlement was made discharging all the company’s obligations
The
Canadian Pacific Railway Co., through Baring Bros., of London, sold
$20,000,000 of bonds, the proceeds of which were applied to paying off
apart of the indebtedness of tlie company to the Government, while the
balance of $9,000,**) j was liquidated by transferring 6,793,014
land belonging to the original grant of 25,000,000
Of the l..nd grant bonds there are outstanding only the above

amount,

amounting to $1.land bonds, which
The lands in possession of the company are about
Tlie bonds are receivable for lands and may be

against which are deferred payments on lands sold,
2.3,538. The Government al-o holds $1,000,000 of

are

acres of

to be canceled.

14,959,718 acres.
paid oil'at 110.
From Jan. 1 to Sept. 30, 1887 (9 mos.), giossearn’s were $7,°04,468,
against $7,036,786 in 188 :; net, $2,096,901, against $2,507,058.
Theamuiiil report for 1886 was published atlengtli in the Chronicle.,
V. 44, p.652, 655. The following*is a comparative statement of earn¬
ings and expenses for the last twro years:
1886.
4.464

18^5.

4.338

Miles operated

Passenger mileage

..

Bate per passenger per mile
Freight (tons) mileage
Rite per ton per mile

Eaminqs—

Passenger

Freight
Mall, expies3 and miscellaneous
Total earnings

Operating

v

earnings

150,466,149
2'10 cts.

2-45 cts.
406,822,166
1 *20 cts.

555,458,159

$2,859,223

$3,170,714

1T0 cts.

4,881,866

627,404

6,112,380
798,710

$8,368,493

$10,0-1,804

5,143,276

6,378,317

$3,225,217
61’46

$3,703,487

expenses

Net earnings
Per cent of oper. expenses to
Net

116,702,980

earnings...
INCOME ACCOUNT FOR

6326

1886.

$3,703,486
3,068,042

Fixed charges
:
Surplus
-(V.44, P 59,184, 308, 343, 433, 525, 620, 652, 655 ; V.

239, 400.)

$635,444
45, p. 52,

Cape Fear Sc Yadkin Valley.—Iu operation from Fayetteville, N
C., to Bennettsville, 8. C., 57 miles; Fayetteville, N. C.t to Belew’s
Creek. N. C.. 120 m.; Factory branch, 10 m ; total, 18 7 miles. Road is
projected some 250 miles additional, and is iu course of constructlon by the North State Improvement Co., which Co. holds $750,000
2d mort. income bonds.
The total stock is $798,925, of which $741,900
*as outstanding April
1, 1887. From April 1 to Sept, 30. in IS-87 (6
kms.), gross earrings were $126,17L against $101,400 in 1886; net,

took32*5’ against $41,016. Ft r fiscal year 188o-.*7 gross earnings were
$236,066; net, $111,585; suiplus over rentals and interest, $46,797.
Carolina Central.—Owms from Wilmington, N. C., to

f

Rutlierfordton,

267 miles. Formerly Wilmington Char A Rutherford, chartered in
existing company after foreclosure May 3, 1873

4oo5. Succeeded by




$8,000 a year for
Seven per

Susquehanna.—Owms from Susquehanna River to
Leased in perpetuity to Dela. Lack. A West, at
a rental of $54,600 a year. Dividends on capital, 9 per eent per annum.
Cedar Falls Sc Minnesota.—Owns from Waterloo, la., to Minn.
State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
from January 1, 1867, at $1,500 per mile as a minimum and a con¬
tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
and of 30 per cent or any excess over $7,500 per mile. The Dub. & S. C.
(carrying this road) was acquired by Ill Central iu 1887. Capital stock,
$1,580,500. Operations are included in Illinois Central reports. The
minimum rental is $113,370 per annum. J. S. Kennedy, President, N. Y.
Central Branch Union Pacific.—(See Man Mo. Pac.)—Owns from
Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col A
Pac. 254 miles ; Atch. J. Co. A W., 34 miles; total operated, 388 miles.
Cayuga

Sc

Ithaca, N. Y., 34 miles.

The Un. Pac. Cent. Branch was formerly' the Atchison A Pike’s Peak RR.,
and was one of the roads embraced in the act of Congress incorporating
the Union Pacific RR.
The stock is $1,000,000, or which the Union
Pacific owns $858,700. The company received a Government subsidy
of $1,600,000. Default on interest was made May 1, 1873, but uo fore¬
closure took place. It is operated as a part of the Missouri Pacific

system under a 25 years lease, made Sept., 1885, by which the net earn¬
ings are paid to Union Pacific as rental. In 1886 gross earnings were
$1,705,763; net income, $748,357; charges, $471,355; dividends,
$10u,000; surplus, $177,002. For 1885 gross earnings were $1,855,840: net,

surplus $98,333. In

$591,000; total fixed charges, $513,136;

October, 1885- 5 per cent dividend paid. In 1886 paid 10 per cent.
Central RR.A Banking Co. of Georgia.-(See Map )—Savan¬
nah, Ga., to Atlanta, Ga., 295 in.; branch, Gordon to Milledgeville, 17
m. leased—Augusta & Savannah, 53 miles; Eatonton Branch Railroad,
22 miles; Southwestern Railroad and branches, 320 miles; total opera¬

ted, 706 miles; also takes net
separate

OPERATIONS AND FISCAL RESULTS.

Rental, 30 per cent of gross earnings and

Reading.

company expeuses. Funded debt is also assumed by lessees.
oent is guaranteed on the preferred stocks.
(V 43, p. 387.)

results of 440 miles more operated by

companies. Iu 1886 leased the Mobile A

Girard RR., 84 miles,

from June 1.
In 1881 the lease of the Georgia RR. for 99 years
wTas taken iu tlie iuterestof this company and the Louisville A Nashville,
which operate it on joint account. The company owns
a
est in 840 miles of connecting lines and the Ocean Steamship Co. of
8avannali.
This company and the Georgia RR. Co. are joint owners
the Western RK. of Alabama, 138 mih s, purchased at foreclosure sale
in April, 1875.
Total mileage of system,
bonds were issued jointly by this company^, the Macon
the Southwestern.
The certificates of debt of 1881 are in the nature
of guaranteed stock aud are payable at option after
collateral trust bonds (Central Trust Co. of New York, true ee) were
issued in 1887; see Y. 45, p. 242, abstract of deed and securities

also

large inter¬
of

2,377.

The “ tri-partite”
& Western and
July', 1891. The

de¬

posited.

From Sept. 1, 1837, to Sept. 30, 1887 (1
$780,134, against $583,457 in 1885 86;

785.
The fiscal year
633.

ends August 31; the report for 1886 was

Income

Expenses
Net income

Int., rentals and div..

Surplus
*

1884-85.

in Y. 43, p.
1885-86.

1882-83.

1883-84.

$4,977,807

$4,659,082

2,950,115

2,851.455

2,211,615

1,922,057

$2,027,692

$1,80^,627

$1,699,792

$1,994,934

*1,982,517

1,848,491

$3,911,407 $3,916,991

1,776.369 1,913,842
$45,175 Def.$40,864 Def.$76,577 Sur. 81,092

Dividend in 1882-83, 3

1886, 6 p. c.
-(V. 43. p. 607,

month), gross earnings were

net, $364,23L, against $248,-

percent; in 1883-84, 6; in 1884-5, 5 p. o.; in

622, 633; V. 44, p. 59, 134,

653, 631; V. 45, p. 84, 166,

178, 210, 242, 271, 400.)
Central Iowa.—Owns from Albia, la., to North wood, la., 189
miles; Oskaloosa to I »wa Junction. 184 miles; Grinnell A Montezuma
Branch, 14 miles; Story City Branch, 35 miles; Newberg Branch, 27

Belmond Branch, 22 miles; Newton Branch, 28 miles; leased,
Manly Junction to Lyle, 20 miles, aud tracks at Mississippi River, 3
miles; trackage, I wa Junction, 111., to Peoria, I I., 3 miles; leases to
B. C. R. A N. RR. Co., Manly Junction to Northwood, 12 miles; total

miles;

MAP OF THE

CANADIAN PACIFIC

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November,

Subscribers will confer a

S^r^mTanation
of column headings, &c., see notes
ror
y
on

first page of tables.

Iowa—(Continued) Consolidated rnort., gold (for $6,748,000)
Car

trust

Size, or

certificates

par

Value.

$1,000

I L884

499

'

1,000

2,0 0,000

100

18.563.200

1,000
1,000

20.352.200
5,000,000
1,300,000

1,000

4.'00,000

1,000

5,000,000
780,000
2,704,250
1,942,000
1,000.000
68,000,000
25,883,000

500&c.

1,009
50
1.000

1,090

,

Savannah-Gen. M., $1,500,000,gole.
Charlotte Columbia cC- Augusta— 1st rnort. consol.,.

191 i 1869
191
1872

2d mortgage

100

1,000
1,000
1,000

1,000
m

m,

m

m

4,070,000
12,290 090
3.285,000
6,000,000
2,500,000
1,081.900
2,000,000
500,000

1,000
1,000
100 &c.

1,090
1.000
500 &c.

1,000

as follows:
1886.

1885.

1884.

$1,307,371 $1,305,931
$323,894
$153,503
trusts,&c
563,687
630,000
Balance
Def. $57,198 Def. $239,792 Dof. $477,COO
_(V. 43, p. 216. 458, 634, 671 ; V.44,p. 117,21 1,551, 633, 712 ; V. 45,
p. 142, 239, 303, 304. 373, 400, 437, 538, 641, 672.)
Central Massachusetts.—This company was organized Nov.
10,1683, by the bondholders who purchased the Massachusetts Central
at foreclosure sole Sept. 1, 1883.
Road completed and in operation
Dec. 1, 1887, from Boston to Northampton, Mass., 104 miles.
Exten8i(U to llolyohe to he completed in 1888.
In Sept., 1886, a lease
was made to the Boston & Lowell for the term of 99 years on the
basis of .a rental of 20 per cent of gross ea nings up to $1,000,000, ami
per cent on earning.'* above that amount, but with a guarantee of sutlicieid r"utnl to pay interest —(V. 43, p. 274-, 3G7,508. 579; V. 45, p. 642.)
Central of Mew Jersey.—(See Map)-Owns 269 miles, leases 264
miles and operates 116 miles ; total, 648 miles, not including the
“Switch-back,” 18 miles. The principal leased lines in Pennsylvania
are the Lehigh & Susquehanna and the Lehigh & Lackawanna, with
their branches, &c. Under the lease of 1883 to Philadelphia & Reading
$1,448,259
$409,800
466,998

$1,414,400
till 1893, and
placed in the
Coal
Company’s stock is held by Central of New Jersey, and of the
$11,500*000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held
by Central of New Jersey and receive interest after all other bonds
are satisfied.
The entire capital of the American Dock Sc Improvement
Company" is owned by the railroad company, and the right exists to
purchase the bonds by lot at 110. On Feb. I, 1885. default was made in
payment of mortgage coupons, the P. Sc R. Co., lessee, having defaulted
in payment of the rental.
On June 1, 1883, the road was leased for 99 years to the Phila. &
Reading RR. Co. at 6 per cent on stock and interest on bonds, but a
decision was rendered in Feb., 168 \ holding this lease void and on Oct.
15,18*6, Messrs. J. 8. Kennedy and Joseph S. Harris were appointed re
the minimum rental of Lehigh & Susquehanna wa«* made
and maximum $1,728,700 till 1888; then * $1,885,800
after that $2,043,000. In Feb., 1877, the property was
hauls of a receiver. A majority of the Lehigh Sc Wilkesbarre

eeivers, and resumed possession Jan. 1, 1887.
In June, 1887, a plan for complete readjustment of the debt was pro¬
posed, under wliicli the gold mortgage for an authorized amount of
See abstract of mortgage V. 45, p. 402.
$50,000,100 was issued,
Tie full statement of tlie company’s proposal to each class of debt,
with status. Ac., was given m V. 44, p. 714, 716.
From Jan. : to Sep 30 in 1887 (9 mosjgross earnings were $8,626,374,
again-t $7,729,723 ill 18*6; net $4,il3,446, against $3,249,887.
.

ending Nov. 30,1884,1885 and 1886, the P. Sc R. Co., lessee,
receipts, net, fixed charges, iucludmg 6 per cent guaran¬
this road as follows:
1883-4.
1884-5
1885-86.
Gross earnings
$10,441,095
$10,300,466
$10,690,719
Expenses
5,995,114
5,699,200
6,000,013
In the years

reported

gross

teed dividend, on

Net earnings

5 Fixed charges ...
\ DivPds (if paid)..
„

1,113,792

$4,601,266
$4,825,851

"1,113,792

$4,690,706
$1,847,000

$5,920,212

$5,939,643

$5,960,792

$4,445,980
$4,806,420

1,113,792

Deficit for the year
$1,338,377
$1,474,231
$1,270,086
~(V. 44, p. 21, 275, 362, 466, 525, 544, 620, 71G 714, 716, 781, 80S ; V,
45, p. 25, 112n 13. 135, 166, 271, 304, 402, 509, 572, 613.)
Central

Oliio.-s^wns from Bellaire, Oliio, to

*37 miles. Charttffed in 1847 and opened
1865. Leased to the Baltimore & Ohio, for

Columbus, Ohio

in 1854. Reorganized in
20 years, Nov. 11, 1866;

the lease was
of 20
& Deposit
for $2,850,000 at 4*2 per cent, running till

per cent of gross earnings.
Feb. 23, 1880,
«xtended to Dec. 1, 1926, with the option of renewing for terms
years perpetually". The consol, mortgage (Mercanti e Trust

rental, 35

Company of Balt., trustee ) is
193n;

tne

Baltimore &

Ohio Company received

$1,000,0(0 of tliese

improvements on the Central Ohio. In 1885-86 gross
$1,270,476; net, $478,523; surplus over rental, $33,857.
between Newark & Columbus (33 miles) is owned jointly
rtttsb. Cin. & St. Louis RR. Co. (V. 43, p. 102.)
bond for




1,970,000

1.000

receiver.

Gross earnings
Net earnings
Int. on bonus, car

6,080,000
25,883.000
2.735,000

6,000,000
5,809,000
687,000

Chartered as Central RR. of Iowa and opened in
1871. Reorganized under present title June 18, 1879, after foreclosure
sale under first mortgage.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre¬
ferred. $1,078,300. First pref. has prior right to 7 per cent (non-cum.);
then 2d pref. entitled to 7 per cent.
in October, 1884, default was made in payment of interest.
In May,
1887, a new plan of reorganization wa* made. See V. 44, p. 653. Foredosuie sale was made on «ept. 17, 1887, of the Eastern Division and
brunches to James Thompson of New York for the Reorganization Com¬
INCOME ACCOUNT.

284,000

1,000
1,000
1,000

operated, 513 miles.

mittee; the mam line was sold Nov. 9 to same parties.
In Dee., 1886, Mr. Ethelbert L. Dudley was appointed
The fiscal year ends Dec. 31. The income account was

$4,430,000
7,245,988

74

Charleston <&

Amount.

Outstanding

50S009

Massachusetts—Stock i$3,852,088 is P'ef.) . 124
Mortgage bonds coup, interest guar
c* 648 ] 1886
Centred of Nero Jersey- Stock
1887
General mortgage, gold, coup. (& reg. Q.- J.) ... "74 1869
1st mortgage bonds
; 1872
Bomba (convertible Nov., 1875 to 1877)
’*97 ! 1874
Consolidated mortgage.
-------- •
: 1881
Am Dock&Imu.Co, new M. bds., guar. C. ot Is. J.
1883
Debenture bds.I conv. into stock till 1907
137
Central Ohio—Stock ($391,700 of this is pref.)
137
1st mortgage bonds.
137
1836
Consol. 1st uiortg. (for $1,850,000), gold
c 1,340
Central Pacific—Stock
742 ! 1865-8
1st rnort., gold, (2 sinking funds, $50,000 each)..
50 | 1864
Califor. State aid, gold (s. fund, $50,000) extend.
146
j 1870
1stm.S. Joaq’n Val. Br., gld (s.f. $50.000)
742
U S. Loan, (2d lien on certain terms' .
158 ! 1869
West. Pac., 1st m., 8. f., (inch $111,000 reserved)
1869
123
West. Pac., Government lien
152 ! 1868
Cal.<tO., 1st M.,g.,gu.(to be ext. till lots at 5 p.c.)
141
1872
Cai Sc Oregon cent. Pac., mortgage s. f
20
1870
Ban Fran O. & A., 1st M. (s. f. $100,000)
1870
Land grant 1st mortgage bonds
1886
423
1st rnort. Sc land gran', 50-year, gold, bds , s.f.. .. o
1878
Income bds.($6,000,000).skg.fd., 10 p.c.perann’m
18*5 I 1883
Central of Vermont— Cons. RR. 1st mortgage
j 1887
Char. Ctnn. <£ Ch icayo-1st M., g.. ($25,000 p. m )
11 5 i 1*86

Central

<U*

these Tables.

bonus—irTimii -

INTEREST OR DIVIDENDS.

Miles i Date
of
i
of
Road. Bonds

central

BONDS.

immediate notice ot any error discovered in

great favor by giving

DESCRIPTION.

AND

STOCKS

RAILROAD

1887. J

earnings.
The road
with the

Rate per
Cent.

When

Where

& D.

J.

5

A. Sc O.

payable, and by Slocks—Last
Dividend.

Whom.

Payable

s«

pal, When Due.

sa

coups,

pd. to June,’88

B >ston Co.’s

Office.

Juue

1, 1924

1906

Oct. 1,

l*v
5 g.
7
7
7
5
6
3
6

Sc J.
Sc A.
M. Sc N.

J.

F.

Q.-J.

New York, Agency".
do
do
do
do
do
do
do
do
do
do

J. & J.
M. Sc N.
J. Sc J. Balt., at B. Sc O. office.
do
do
M. & 8.
do
do
4ha g. M. Sc S.
F. & A. N. Y. Sc Sau Francisco.
3
N. Y., So. Pac RR.
6 g. J. Sc J.
do
do
7 g. J. & J.
do
do
6 g. A. & 0.
U. S. Treasurv.
I. Sc J.
6
6 g. J. <fe J. N.Y., So Pac.Co., Office
U. 8. Treasurv.
6
6 g. J. & J. N.Y., *o Pac.Co.. Office.
New York A London.
6 g. J. <fc J.
J. & J. N.Y., So Pac.Co., Office.
8
do
do
6 g. A. & O.
A. Sc O. N. Y. Sc Sau Francisco.
G g.
N. Y. and San Fran.
8 g. M. Sc N.
5
J. & J. Bust..Am. Lom&Tr.Oo.
B >st. Safi1 I). & T. Co.
5 g.
Q-J7 g. J. Sc J. Charleston & New York.
J. & J. N.Y , Fir>t National Bk
7
do
do
A. Sc O.
7
....

1987

1,

July

1890
1, 1902

Feb. 1,
Nov.

July 1.

July 1,
May 1,

1899
1921
1908

V" 30, 1887
Sept., 1890
Sepr. 1, 1930
Feb. 1, 1884

Jul

1995 to ’98
July 1, 1888
Oct. 1, 1900
1895 to ’98
July 1, 1899

1899
1, 1888

Jan.
Jan.

1, 1892
July 1, 1890
Oct.
1, 1890
Oct. 1, 1936
May i, 1888
July 1. 1913
Julv 1, 1947
Jan. 1. 1936
Jail. 1, 1895
Jan. 1, 1910

total operated and accounted for Jan. 1, 1887, 1,340 miles. In connec¬
tion with the Union Pacific, the Central Pacific forms a continuous
line from San Francisco, Cal., to Council Bluffs, la. (1,918 miles), whioli
was

opened May 10, 1869.

The Cal. & Oregon line is being extended

northward to a junction with Oregon & Cal. at the State line.
In March, 1885, the Central Pacific lines were leased to the Southern
Pacific Company, and the previous lease of the Southern Pacific Railroad
to Cent. Pacific was relinguished to the same company. The Cent Pacitio
receives all its net surplus im*ome above annual charges of every sort and
betterments, and a minimum rental of $l,2u0,000 and a maximum of

$3,600,000 (payable annually on Mayr 1), is provided for by the lease,
but this rental is first applicable to the p lyment of Central Pacific
floating debt, if any. and no dividends have since been paid on Central
Pacific stock. Tue total floating debt Dec. 31, 1886, was $3,276,101.
(See abstract of lease, V. 40, p. 480.)
The Charter, Leases, &c.—The C. P. was a consolidation (Aug. 22,
1870) of the Central Pacific (organized Oct. 8, 1864), California A
Oregon, San Francisco & Oakland, San Francisco & Alameda and San
Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
U. S. bond subsidies and lands to the Pacific railroads; the act of July,
1864, made the lien of the Government subject to that of the first mort¬
gage

bonds, but authorized the Government to

withhold one-half the

transportation on its account, and also to receive 5 per oent
of the net earnings; the “Thurman” act of May 8, 1878, directed that
the other one-lialf of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearl v to
the Government forthe sinking fund of its debt or as much thereof as
shall make the 5 per cent of net earnings, plus the whole transportation
account, equal 25 per cent of the whole net earnings for the year. The
leases are numerous aud mostly" for short dates, an l the terms of eaeh
charges for

iu brief were stated in the Chronicle, V. 37, p. 47.
A consolidation with Oregon & Cal. RR. by an exchange oa stock
been made.
(See O. A C. in this Supple ik^t.)
Stock and Bonds—The following dividend* on Central Pacitio

has

stock

paid, viz.; In 1877, 8 per cent; 1880, 6 per cent; 1881, 6 ; 1S82, 6 ;
1883, 6 ; and in 1884, 3 per cent. Prices of stock since 1879 have been:

were

in 1881. 80hj®l0278; in 1882, 82%a971s; in 1883T;
30@67%; in ’85,26»s®49; iu ’->6, 3s®51; in 1887, to
Nov. 18, inel., 2*1e®4338. Most of the issues of bonds have sinking funds,
as seen in the table above, and these sinking funds are invested mainly
in the bonds ot other Huntington lines and accumulate; the bouds
The sinking funds amounted Jan. 1, 1887, to $9,543,are not called iu.
In 1880,63®971e;
to 61®88; in 1884.

The land grant bonds are retired with proceeds of land sales. In
Oct., 18-6, the land grant and mortgage 50-year bonds (\V. E. Brown
and
Frank 8. Domy, trustees) were created for an
authorized
amount of $16,000,00u, to take up the $ V 00,000 of 2d M. laud bonds
and for other purposes. (Sec V. 45, p. 179, 241.)
023.

The Land Grant.—The

total land granted the Central Pacific

and the

California & Oregon companies was a limit 12,000,000 acres, of which
about 2,240,0 i0 acres had been sold to Dee. 31, *83C
In 1886, 284,6 IS acres wer sold for $292,624 mid $367,614 c tsh was received by
the Land Department.
L ind contracts on naud J tu. 1, 1887, $1,116,t58.

Operations, Finances, &c.—The Central Pacific Railroad had a strict
monopoly" of business iu the territory" occupied by it, and for many years
The C. P. stock after paying dividends
was able to control the traffic.
for a few years ceased to pay after February, 1884. In 1885 the road
was lease •. as above, to the So. Pacific at a net rental guaranteed of
$1,200,000 per year, subject to the debts due the lessee company.
No dividends have yet been paid since the le»se, and Dec. 31, 1886,
the net deb" yen due from the Cent. Pac. to the So. Pac. < o. was $922,036. The Central |Paciflc balance sheet of that date gave the following
iie ns of floating debr, viz: Southern Pacific Co., $822,036; trustees

$986,995.
United
States, $1,969,725—net flo itmg debt, $1,306,375.
From Jan. 1 to Aug. 31 in 1887 (8 mo nths', gross earnings on 1,408
miles were $8,516,688, against $7,633,255 on 1,317 miles in 1986; not,
$4,043,8 >9, against $4,041,648 in 1886; surplus over interest, rentals.
&c.. $2 t7.983 in 1»87.
The annual report for 1886 showed gross earui.igs $i 5,206,137; net
profit due Central Pacific Railroad un ler the lease $ i ,324.998.
(V. 43, p. 73, 217, 244, 745; V. 44, p. 59, 118, 148, 490.459, 553,781,

grant mortgage. $1,413,361; sinking fund suspense,
Assets, including case, *951,247 a id $7*6.992 due from the
of lan l

782; V, 45. p. 52. 142.

166, 178, 179, 211, 340. 4 >0,

472. 613.)

Central of Vermont.-This company- was organized in April,
1813. under a charter from Verm'lit. It has no road of its own, bu

t

operates a large mileage under lea*e. The Consolidated RR.
mont was organized July l, 1884, embracing the former Vermont Cen¬
tral aud Verm nt & Canada properties, and was then leased to the. Cen¬
tral Vermont. The stock of the Consolidated Vermont is $750 000 pre¬
6 per
ferred
cent and *300,009 common.
The stock of the
Central
un ler lease
Vermont is $1,009,000. an 1 it operates
the
following roads: Consol. RR. of Vt.—Windsor to Rouse’s
Point, 158 miles; Essex Juuc. to B i ling on, 8; Swanton June, to

of Ver¬

Provin e Line. lURnilmd RR.—B dlows Falls
Addison RR.—Leicester June, to Ticonderoga.

to Burlington, 120 ;
16; Morr real A Vt.

Junction—Province Line to St. Johns, 26: 8. S fe Cliatnbly RR. — S. 8. Sc
(’. June, to Waterloo, 41 ; Ogd. Sc Lalo Champlain KR.—Rouse’s Point
to O.gdeusburg, 118; Now Lon Ion Sc Northern
RR.—Bnattleboro to




INVESTOK’

SUPLEMNT.
[Vol.
xlv.




Subscriber* will confer a

great favor by giving

explanation of column headings, Ac., see
on first page of tables.

immediate notice of any error discovered in tbese

notes

Date
Miles
of
of
Road. Bonds

Tables.

815,e>ori

Amount

Outstanding

Value.

1865
1883
1887
1871
1887
1878
1878
1878
1878

$.

-

. .

46881
Chesapeake <£ Nashville -1st mortgage
Chesapeake & Ohio— Purch. money funding

....

22
23
35
428
503
428
428

bonds...

1st mortgage, gold, series “A”
do “B”
do
do
do
do
do
ext’d at 4 per ct
do
funding scrip
2d mortgage, cur. (interest in stock or cash)
1st mortgage, gold, of 1911, Peninsula Extension
1st mort., gold, of 1922 on extern (for $3,000,000)

428
75
....

Equipment trust bonds

....

353
351
186

Ohes. Ohio <& Southwest—1st M., gold ($19,000 p. m )
2d mortgage ($11,000 per mile)
Paducah A Elizabetht’n, 1st M. ($300,000 are 8s)

$2,000,000

....

64

Bonds, not mortgage
Chicago <£ Alton—Common stock
Preferred st’ek (7 o. c. y’rly not cumulative)

Gen. mortgage, sterling, for £900,000
1st mortgage
Joliet A Chicago, 7 per cent, stock
8t. Louis Jacksonville A Chic., 1st mortgage
1st M. end. by Chic. A Alton
do
do
do
do
2d M. endorsed by C. A A..
do
do
2d mortgage (convertible)
La. A Mo., 1st M. ($439,100 assumed by C. A A.)
do
2d M. (iut.guar. C. A A.)
do
guar. nref. stock
Bonds for K.C.St.L.A C. (1st mort. as collateral).

Rate per
Cent.

When

Where

nonets—Prinol

Payable, and by

pal,When Due*
Stocks—Last

Payable

Whom.

J. A J.
J. A J.
M. A S.
A. A O.
F. A A.
J. A J.
A. A 0.
M. A N.
M. A N.

New York, 1st Nat. Bk
New York Agency.
New York.

Jan.

Philadelphia, Penn R.R.

Oct.

Dividend.

'

j

Charlotte Columbia & Augusta—(Continued)—
Columbia A Augusta 1st mortgage
Consol, mortg., gold (for $3,000,000)
Chattanooga Rome <& Col.—1st mortgage, gold
Ohartiers—1st mortgage

Equipment trust bonds for
Cheshire—StocK, preferred

[V oi.. XLV.

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

SUPPLEMENT

INVESTORS’

98

....

850
850
322
220
38
150
37
37
150
101
101

j

1878
1881
1882
Var.
1881
1881
1877
1882
....

'76-’78
.

.

.

.

....

1873

1862
....

(?)
500,000
875,000

1,000

1,000

100 Ac.
100 Ac.

100 Ac.

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

100
500 Ac.
100
100

1,000
1,000

100

1864
1864
1868
1868
1870
1877

1,000
1,000

187*

1.000

....

16‘2

Nil.

1,000
1,000

1,000

975,000

"q

10.106,189
2,000,000
142,000

1,209.000
6,070,000
2,768,230
500,000

666,000
2,100,000
80O.000

14,110,800
3,479,500
4.379,850

2,383,000
1,500,000
2,365,000
564,000

100

329,100
2.492.000

tees

i

6 g.
6 g.
4 g-

5,670,000

188,000
44,000
1,785,000
300,000

B attleboro A Whitehall UR.—Brattleboro to Lon¬
donderry, 36; Mootpelier A White River RR.—M mtpelier to Barre, 7;
Missisquoi A Black River RR.—Eastmans to Bolton Centre, 10; total,

56 gg-

2,279,000
2,000,000
9,330.000

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

New London, 121;

7
6 g5 g7

$189,500

1,000

6-g.
« g/

6
6 g.
6
6 A 8
6
3
6
2
2
6 g.
7
7
7
7
7
7
7

3^
6 s.

1937

1,
Aug. 15.
N.Y Office,Mills B’ldiug July 1,
do
do
July 1,
2;i May coup. pd. in scrip July 1,
N.Y., Company’s Office. J ily 1,
New York Office.

*J.

N. Y. Company’s Office.
A
do
do
A. A O.
do
do
J. A D.
do
do
Various
F. A A. N. Y., 52 Exch’ge Place.
do
do
F. A A.
do
do
F. A A.
do
do
J. A J.
J. A J.
Keene, N. H.. Office.
J. A J.
Boston, Office.
Q. -M. N. Y., John Paton A Co.
do
do
Q.—M.
J. A J. Lond’n,J.S. Morgan ACo.
J. A J. N. Y., John Paton A Co.
N. Y. U. S. Trust Co.
Q.-J.
A. A 0. N. Y., John Paton ACo.
do
do
A. A 0.
do
do
J. A J.
do
do
J. A J.
do
do
F. A A.
do
do
M. A N.
do
do
F. A A.
do
do
M. A N.

J.

1, 1890
July 1, 1933

$700,000 bonds for a grain elevator,

1901
1937
1898
1908
1908
1986

July 1, 1918
Jan. 1, I9ii
June 1, 1922
Various.
Feb. 1, 19H
Feb. 1, 1911
Feb. 1. 1907

Yearly to 1892
July 1, 1887
July 1,’96&’98
Dec.
Dec.

1, 1887
1, 1887
July 1, 1903

Jan., 1893
Oct.,

1887

April. 1894
April 1. 1894
July, 1898

July, 1898
Aug., 1900
Nov. 1, 1900
Dec. 1,

1887

Mav

1903

1.

but in case of paying them will

take the elevator.
In May, ’85, the company paid in cash one-half
due and the same in Nov.. ’85 and '36, but paid only

of the coupon falling

one-third in.cash m
1886, and again in May, 1837—the balance of each coupon was
$4,481,607; net earnings, $I,31S;675; May,
in scrip.
int., $609,637; real estate purchased, $9,- paid
In August, 1836. Mr. Huntington issued a circular proposing that the
669; balance, $86,835.-(V. 43, p. 274,308; V. 44, p. 433; V. 45, p. 51-'.)
B ” bon is should have interest reduced to 4 per cent and the principal
Charleston Cincinnati Sc Chicago.—(See Map.) —This road as extended to 19.86. tlie holders receiving a bonus of 25 ner cent in New¬
projected is being built by the Mass. A S.mtb. Con. Co. from Charleston, port News A Miss. Valley Co’s stock; the holders of currency bonds
S. C., through the States of South Carolina, North Carolina. Tennessee.
were also asked to surrender their bonds iu exchange for 125 per cent

672 miles.
In 1886-7 gross earnings,
rentals and taxes, $612,532 ;

“

Virginia and Keutucky, to Ashland, on
tween Rutherfordton, N. C., and Black

the Ohio River; 45 miles be¬

in said stock.

(See V. 43, p. 152 and 514.1

Station, S. C., on the R. A D.
O.i Oct. 2-b 1887, W. (J. Wickha u, the Vice-President, was appointed
Air Line, were completed and put in operation on April 13, 1887, and receiver of the company on a suit by Mr. Huntington.
(See V. 45, p,
105 miles between Black’s Station, S. C., and Camdtn, S. C., are now 572.)
under construction, to be completed by Jan. 1, 1883. On Aug. 2, 1887,
From J.tu. 1 to Sept. 30, 1887 (9 months), gross earnings were $3,274,.
the company voted to take up and cancel the bonds issued under a 879, against $3,025,285 in 1-86; net, $1,022,797, against $916,135.
Tfie annual report for 1836 was in ttie Chronicle, V. 41, p. 465.
mortgage dated Oct. 1, 1886, and to issue the above bonds, covering
the whole line of road from Charleston to the Ohio River. The coun¬
Earnings and expenses have been as follows since 1884 :
*
ties, towns and townships through which the road runs have already Years.
Gross Earnings. Op’g Expenses. Net Earn’gs.
voted aid to the amount of about $1,509,090, payable in tlieir 6 and
$3,538,604
$2,499,744
$1,038,860
7 per cent bonds, in exchange for an equal amount of stock. These sub¬
1885
3,361,235
2,465,812
895,423
scriptions are payable as the road is completed. General offices of the
4,096,018
2,977,208
1,118.840
company, 45 Broadway, New York.—(V. 45, p. 613.)
-(V. 43, p. 22, 152, 514, 671, 746 ; V. 44, p. 90, 91, 344, 465, 551, 781,
Charleston Sc Savannah.—Owns trom Savannah, Ga., to Charles¬ 808; V. 45, p. 54, 142, 509, 572, 613, 641, 672.)
ton Junction, S. C., 104 miles; operates—Ashley River branches, 4 miles;
Chesapeake Ohio Sc South western.—(See Map of Newport News
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was
(£ Mississippi Valley.- Owns from Elizabethtown, Ky., via. Paducah, to
first the Chari. & Sav. RR.; reorganized in 1866 under name of Savan¬
Memphis, Term., 352 miles; leased, Cecilian branch of Louisville &
nah A Charleston, and opened March, 1870.
Sold in foreclosure June Nashville,
47 miles. Total operated, 398 miles. In Feb., 1886, leased
present
company
$500,000.
addi¬
7,1880. and
organized. Stock,
In
to the Newport News A Mississippi Valley Company for fifty years. The
tion to the gen. mort. bends, there are $1,000,000 1st pref. income 7s
and $1,000,000 2d pref. income 7s. Earnings, gross in 1885, $153,799 ; company purchased the Memphis Paducah A Northern—Paducah to
Memphis—and the Paducah A Elizabethtown, subject to the $500,000
net, $85,216. In 1886, gross, $482,895; not, $72,418. H. B. Riant
mortgage on the latter, and leased in perpetuity the Ceciliau Branch of
President. New York.
Louisville A Nashville, from Louisville to Cecilian Junction, for $60,000
Charlotte Columbia Sc Augu *ta. — Owns
from Charlotte, per annum, with option of purchasing it for $1,900,000. Stock—Com¬
N. C., to Augusta, Ga., 191 miles.
Leases Atl. Tenn. & O. ( RR., mon, $6,030,600, and preferred, $3,696,000.
Charlotte to Statesville, 44 miles ; Cheraw A Chester, 29 miles;
From Jan. 1 to Sept. 30 iu 1887 (9 months), gross earnings were fl,and Chester & Lenoir, 109 miles. The < larlotte Col. A Aug. was a consoli¬ 366,677, against $1,186,030; net, $544,703, against $417,684.
dation (July 9,1869) of the Charlotte A South Carolina and the Columbia
The annual reports have shown:
1884.
1885.
1886.
& Augusta. The road has been under the control and management of
the Richmond & Danville since 1878, and in May, 1886, was leased to Gross earnings.
...$1,571,155 $1,713,326 $1,717,909
said company. None of the new consol, bonds had been issued to Nov.
Net earnings
$339,951
$502,531 $656,525
15,1887. Gross earnings in 1885-86, $785,759; net, $257,767; deficit
Interest, rentals, taxes, Ac
634,920
674,620
621,180
after all interest and rentals, $1,551. In 1884-85, gross earnings, $826,967; net, $364,010; surplus overall charges, $99,385. Stock, $2,578,000.
Balance, deficit
$281,229
$132,389 df. $18,095
-(V. 43, p. 718.)
-(V. 44, p. 90, 204, 344, 750.)
Char tiers.—Owns from Mansfield, Pa., to Washington, Pa., 23 m.
Sold under foreclosure, and reorganized in 1867. Leased for 99 years
Cheshire.—Owns from South Ashburnham, Mass., to Bellows
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
Falls, Vt., 54 miles; leased, Monadnock Railroad, Wmckendon to
rental is net earnings. Gross earnings in 1886, $217,044; net earnings, Peterboro, N IL, 16 miles; and 10 miles Vermont A Mass; total80
$121,978; in 1885, gross earnings, $137,234: net, $45,556. Capital miles; but the Monadnock, 16 miles, is not included in the Cheshire
stock, $647,850. First dividend, 2Uj per cent, was paid March 1, 1887.
earnings, leaving 64 miles operated.
$51,000 rental paid to Vt. &
Chattanooga Rome Sc Columbus.—Owns from Rome to Cedar- Mass, for leased portion of road. Capital stock—common, $53,300, and
preferred, $2,100,000. In year ending Sept. 30, ls87, gross receipts
stone, 22 miles; in progress, Chattanooga to'Carrollton, 140 miles in
were $670,830 ;
net, $219,490; deficit after payment of interest and
all. This company is successor to the Rome & Carrollton RR. There
6 percent dividends, $5,511.
In 1885-86, gross $628,0'2; net, $234,*
are 6 per ceut income bonds, noil-cumulative, for $1,400,000, and stock,
$2,800,000. Of the 1st mortgage bonds $150,000 are held to retire that 439 ; surplus over Interest, rentals and 5 per cent dividend on pref.
amount of Rome A Carrollton prior bonds outstanding. J. C. Clem¬ stock $29,711. against $45,410 in 1884-85 over a 3 per ceut dividend.
ents, President.

Chesapeake Sc Nashville.—Road owned from Gallatin to Seott,ville, Tenn., 36 miles, and branch, Gallatin to Hartsvllle, 12 mi;es. For
the construction of the Northern Division, from Seoitsville to a point
near Danville, Ky.t about 10J miles, blocks of $10,000 were offered to
stockholders Feb. 10, 1887, by a circular of Eugene Zimmermann, the
President.

Chesapeake Sc Ohio.—(See Map of Newport News d- Mississippi
Valley.)— Owns from Newport News, Va., to Big Sandy River,JW. Va., 502
miles; Newort News to Phoebus, 8 m.; total owned, 5LI m.; operates

Consolidation of Virginia Central and Covington & Ohio,
through March 1,1873. The present company was organ¬

onlv 502 m.

and opened

-(V. 45, p. 672.)
Cliicago & Alton.—Line of Road—Joliet to East St.
(main), 244 miles; Branches—To Coal City, 30 miles;
Washington A Lac’n, 80 miles; Roodhouse to Louisiana, 38
Upper Alton line, 8 miles. Total owned. 400 miles.
to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
to Cedar City, 101 miles; Kansas City to Mexico, 162 miles.
leased, 450 miles. Total operated, Dec. 31,1886, 849 miles.
Organization, Leases, Stocks and Bonds.—Chartered as the
A Miss., Feb. 27, 1847; reorganized under act of Jan. 21,1857, as
Chic. Alton St. A Louis, and under act of Feb. 16, 1861, the

Louis
Dwight to
miles;
Leased—Chicago
Total
Chic.
present
sold under fore¬

succeeded to the property, which was
Chesapeake & Ohio, which was corporation
in the following year and transferred to new organization in
The Elizabethtown Lexington A closure
October, 1862.
Chicago and St. Louis were connected by the present
Big Sandy Railroad connects on the west with the C. & O., and extends line in 186 4. The annual meeting is held the first Monday in April.
to Lexington, Ky.
The Joliet A Chicago is leased from January 1,
1864, for tne
In June, 1886. this road was leased to the Newport News A Miss. Val¬
Rental, /
term of its charter, and forms part of the main line.
ley RR. Co. for 250 years, the lease being an operating agreement with¬
per ceut on stock.
The St. Louis Jacksonville A Chicago was
out obligation on the lessee to pay interest if earnings are deficient.
leased in perpetuity from April 30, 1868, at a rental equal to 40 nor
The stocks including scrip outstanding were as follows Sep;. 30,
cent of gross earnings uiitil the amount reached $700,000, with a mini*.
1887: Common, $15,9.6,138; preferred stock—first, $3,447,800; second.
$240,000 a year, and the company in 1884 was merged witn
niuiu of
$11,594,000. The second mortgage currency bonds receive interest in
Chicago A Alton and its stock exchanged for C. A A. stock. (See V. oo.
cash, if the earnings are sufficient, but “all interest not paid in cash
p. 455.) The Louisiana A Mo. River RR. is leased for 1,000 years. Rental,
to be paid in 2d pref. stock.”
The holders of first mortgage “B” bonds 35
per cent of gross earnings, but interest guaranteed on second morir
cannot foreclose till six successive coupons are iu default; the series
“A” bonds, secured under the same mortgage, have no legal preference gage bonds and $329,100 pref. stock; the other pref. stock is $1,0HV
ifiOO and common‘$2,272,700; net rental in 1886, $186,279: surplus
by it over the *• B” bonds. The mortgage bonds of 1882 for $3,000,000 above charges, $35,261, applied to lloating debt; floating debt uupaiu
are secured on road from Newport News to old Point Comfort, Va., and
terminal works ; and on a branch to be built in West Va. from Scary January 1. 1887,$128',357. The Kansas City St. Louis A Chicago 8
Creek to the Ohio River.
(See an abstract of the terms of mortgages i i leased to the Chicago A Alton company in perpetuity from Non cm
her
V. 45, p. 54.)
First preferred stock has prior right to 7 per cent from held1, 1877. at a rental of 35 per cent of gross earnings. The bonds are
by U S. Trust Company as security for the Chicago A Aiiou
surplus; then 2d pref. to receive 6 per cent. The dies. A Ohio guaran¬

ized in July,

1878, as successor of the

sold under foreclosure




April 2, 1878.

November,

RAILROAD

IBS'7.]

STOCKS AND

'4

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r

5

is
,o

'go
na

Dal
lie.
as

ent
)T€r

in
ent

the
7
as

or

MAP OF

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tb

18,
il,

CHARLESTON, CINCINNATI

rt0.-

AND

CHICAGO

08

ud
is

RAILROAD AND

v.01*

are

lton




CONNECTIONS.

Dublin

CtK’hiau

BONDS.

29

30

INVESTORS’

Mibacriber* will confer

a

DESCRIPTION.
first page

Vol. XLV.

great favor by giving immediate notice of any error discovered In these Tables.

For explanation ot column Ueadings, dec., see
on

S CTPPLEMENT.

note8

of tables.

Miles
Date
of
of
Road. Bonds

INTEREST

Size,

or
Par

Value.

Amount

Outstanding

Rate per
Cent.

Bonds—Princi¬

OR DIVIDENDS.

pal,^When Due.
When
Where Payable, and by
Slocks—Last
Whom.
Payable
Dividend.

Chicago dt Alton—(Continued)—
Preferred stock, K. C. St. L. &
Common stock
do

0., guar. C. & A...'.

$100

Mississippi Riv. Bridge st’k (7p. c. guar, by C &A.)
C. 6c A. bonds on Miss. Riv. Bridge, 1st mort., gold
Chicago dc Atlantic—1st mort., gold, $ or &
2d mortgage (for $5,000,000)

Chicago Burlington <6 Northern.—Stock
1st mort. (redeemable at

1877
1881
1883

....

249
249
360
360
....

c*

8. fund bonds (St. L. R. I. & Chic. mort. eollat.)..c
Quincy Alton 6c St. L. (leased), 1st mortgage
c
Burl.A Mo. Riv., 1st on r’d <fe400.000 acres land).c
do
1st M. oonv. bonds, (5th 6c 6tli series)
B in.&Mo. consol. M. 1. gr. (s.f. $180,000)
do
Omaha 6c S. W\, 1st M., gu. (drawn at 100)
Burl. & Mo. bonds, 8. f. for Atcli. 6c Neb. RR. stock

Nebraska Railway consol, mort., guar

1,000

1886

100
500 &c.

1386

1,00 »
100

....

100
96

1,000

1,000
1,000

1,000
1,000
•

1864
1872

....

33

1875
1887
1869
1870
1870
1870
1876
1876
1863
’69’70
1878
1871
1880
1877

....

45
70
48
40
270
46
281
40
628
49
....

133

•

•

12,000,000

500 <fee.

545,500
1,076.000
890.500
720,000

1,000
500&c.

1,000
1,000

-

1,000
1,000
1,000

1886, 150® 162; m 1*87 to Sept. 16, inclusive, 155®164. Common In
1881, 127®156; in 1882, 127*2®145*2; in 1883, 128®137*4; in 1884,
118® L40*4; in 1885, 128®140; in 1886, 138® 146; in 1887 to Sept. 16,
inclusive, 143® 155.
Dividends were as follows: prior to the current year : In 1877, both
stocks, 7*2; in 1878, both 7; in 1879, preferred 7, common 6; in 1880.
pref. 7, com. 6*a; in 1881 both 8; in 1882 both 8 ; in 1883 both 8; iu
1864, botn 10; in 1885 and in 1886, both 8, the periods being changed
from semi-annual to quarterly in May, 1884.

Operations and Finances.—The Chicago & Alton road has been par¬
ticularly strong in having a large local business between Chicago and
8t. Louis, so that it was less dependent on through business, which is
done at competitive rates.
Its leased lines are as completely controlled
as if owned, and the system is compact.
From Jau. 1 to July 31 in 1887 (7 months) gross earnings were
$4,782,572, agaiust $4,237,491; net, $2,052,212, against $1,732,661.
Operations, earnings, <fcc., have been as follows for four years past.
Fiscal year ends Dec. 31. Annual report for 1886 was in V. 44, p. 307.
INCOME ACCOUNT.

Net earnings
Other receipts
Total

Disbursements—
Rentals paid
<3 mstruo’n,equip.,&o
Interest on debt
Dividends

Miscellaneous

1884.

1885.

$

$

$
3,380,322

3,713,578

284,773
3,998,351
$
1,208,277

3,575,484

1,194,184

278,818
3,854,302
$
823,565
292,221
770,683
1,646,840

86.963

88.263

740,759
700,544

1886

$

3,409,684

272,845

282.654

3,653,167
$

3,632,338

1,409,750

$
701,777
254,134
836,381
1,407,224

93.854

102.116

.

704.473

380,702839,307

Total disbursem’ts
3,93u,4^<
3,621,0/2
3,428,u80
3,3oi,uo^j
Balance, surplus
232,730
67,624
225,081
390.706
-(V. 44, p. 275, 307, 327; V. 45, p. 25, 304.)
Chicago Sc Atlantic.—Opened May 14, 1883, from Marion, 0.,on
line of N. Y. Pa. 6c O., to Hammond, Ind., 249 miles, and thence over
the Chicago 6c West. Ind. to Chicago, 19 miles. Built as a
connecting line
for N. Y. P. 6c O. and N. Y. L. E. 6c W., and both these companies
guaran¬
teed the gross earnings on business over their roads to and from the
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,u00,000. of wliich $9,000,000 was deposited with H. J. Jewett (then President

of N. Y. L. E. & W.), in trust to hold and vote on it. On Nov.
1,1884, the
on 1st mort. bonds was defaulted.
The 2d mortgage bonds
were largely pledged for N. Y. Lake E. 6c W. loans,
partly to Grant 6c
Ward. In Feb., 1886, suit was brought by the Farmers’ L. & T. Co. to
foreclose the first mortgage. In May, 1886, Mr. Jas. H. Benedict was
elected President.
An outline of proposed foreclosure and arrange¬
ment with Erie was in Chronicle or viarch 19,1887, V. 44, p.
369, by
which arrangement the new issue of bonds will be $12,000,o00 at 4
per
cent gol.i, guaranteed by N. V. L. E. & W., and $1<K),000 only of stock
to be held by ttiat company; there will also be $10,000,000 of 5
per
cent non-cumulative income bonds.
(V. 43, p. 131, 217, 308, 333; V. 44,
p. 21, 173, 343, 369.)

interest due

Chicago

Burlington Sc Northern.—Owns

rrom

840,000

Oregon, Ill.,

4,170,550
224,500

12,853,000
669.000

3,347.000
385,000

N. Y.,

Nov. 1,

John Paton &Co.

Chic., Ill. Tr. <fe Sav. Bk.
Chic., Treasurer’s Office
O. N. Y., John Paton & Co.

A. 6c'
M. & N.
F. & A.

Last paid May 1,
None

1887

May 1, 1888

....

In 1886
Oot. 1, 1912
Nov. 1, 1920

1884

Aug. 1,1923

paid.

5‘" A.'&'o. N.Y.&Bost., Mer. N.

6
2
7
4 & 5
4
4
5

2,325,000

1.000
50 &c.
500 &c.
600 &c.

Q.-F.

7
6
6 g.
6 g.

373,000

1,000&c

1878 issued to build this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
•ent be more than sufficient to
pay bond iuterest and 7 per cent on
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3, 1877, at a rental equal to 7 per
cent on $300,000 stock and 6 per cent on $700,000 bonds.
The Chic. & Alton preferred stock has prior rignt to a non-cumulative
dividend not exceeding 7 per ct. from net earnings, and (after payment
•f 7 on common) also shares with common in any surplus.
Prices of
stock have been as follows: Preferred in 1881, 140® 153; in 1882,
130® 146; in 1883, 140®150; in 1884, 142®152; in 1885, 147®155; in

1883.

2,500,000
9,000,000
9,000,000
2,000,000
76,390.505
13,986,000
12,302,000
7,968,000
4,300,000

9,000,157
391,000
653,000
547,500

•

1,00 a
1,000
1,000

of

Receipts

1*3
3*2

665,000
6,500,000

1,000

1873
1879
1882
1881
1883
1860

....

Quincy 6c Warsaw. 1st mort

1,000

....

....

Deoenture bonds for Han. A St. Jo. stock
c*
North Cross R. R. 2d. M (now 1st), g.,s.f.,$50,000
Trust mortgage (Burlington to Peoria)
0
Plain bonds
c*
Sink fd. bonds (for Albia Knoxv. & D. M. roadh.c
Nematrka extension siuk’g f’d b’as
c<kr
Dixon Peoria 6c Hannibal. 1st
c*
Ottawa Oswego 6c Fox River, 1st
c*
Illinois Grand Trunk, 1st mort
c*

$1,750,000
271,700
300,000

105)
Ten-year debentures ($2,250,000)
Chicago Burlington <£ Quincy—Stock.
4,036
Consolidated mortgage (for $30,000,000)
825
c*
Trust mort. Iowa, dr. at 100 & 105 (s.f. 1 *2 p.c.).c«fcr
730
Bonds Denver extern,d awn at luO (s.f. 1 p. c.).c
Bonds forBur & S.W., drawn at 100 (s. f. 1 p. c.) ..c

bonds

....

....

J. & D.

Q.—M.

4 g.

7
7
5
4
8
8
8
8
5
5
7
8“
6
8
4
7

J. &
A. &
F. 6c
M. &
M. &
J. &
A. <fe
J. &
J. &
M. &
J. &
J. &
A. &
J. &
A. &
F. &
A &
J. &
J. &
J. 6c
J. &
A. &

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

O
J.
J.
D.
J.
O.

Bk. April 1, 1926
Dec. 1, 1898
Dec. 15,1887
July 1, 1903
Oct. 1, 1919
Feb. 1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
N.Y., N. Bk. of Com’roe. Oct. 1, 1890
Jau. 1, 1896
Boston, Co.’s office.
do
do
June 1, 1895
N. Y. and Boston.
May 1, 1927
N.Y..N. Bk. of Com’rce. July 1, 1889
New York and Boston.
July 1, 1900
Boston, C. B. & Q Office Oct. 1, 1890
N.Y.,Farmers* L.&T.Co. July 1, 1890
Oct. 1, 1901
Boston, Co.’s Office.
N.Y.,Farmers’ L.& T.Co. Feb. 1, 1896
N.Y.ife Boat.,Co.’s Office. Oot. 1, 1893
do
do
Boston and New York.
N. Y., Bk. of Commerce.
do
do
do
ao
do
do
do
do
Frankfort.

do

do

1889

do

do
do
do
do

July 1, 1918
Jupe I, 1896
Jan. 1, 1910

do
do
do

Oot.

& 1894

1, 1896

C. B. & Q* iu 1883) across Missouri to St. Joseph. The mileage reported
at the close of 1886 was 4,036, of which 122 miles were leased or oper¬
ated with other companies.
In addition to this the company con¬
trols and largely owns the St. Louis Keokuk & N. W. road, 181*2 miles;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 miles ; the St. Joseph & Des Moines, 50
miles; and a half-interest with Wabash in the Humeston 6c Shenandoah,
113 miles. The allied road to St. Paulis tbe Chic. Bur. & Northern. In

September, 1887, the Denver Utah A Pacific (narrow gange), 43 miles,
Denver to Lyons, Col., was purchased.
Organization, <fcc.—TlieC. B. dc Q. was a consolidation in 1856 of the
Chic. & Aurora and the Cent. Military Track railroads, and purchased
in 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation in January, 1875, of the
Chicago Burlington 6c Quincy in Illinois and the Burlington & Missouri
River in Iowa."
I11 1880 the Burlington & Missouri in Nebraska
The leased lines are practically owned and there
was
absorbed.
is no charge for rentals in the iucoine account, except as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate. In
In August, 1885, the agreement was made with the Chic. Bur. & No.
for 'he line to St. Paul, and the Chic. B. <& Q. owns $3,000,000 of the
stock of that comp my; see circular In V. 41, p. 160. The fiscal year
ends Dec. 31. Annual election in April.
Stocks and Bonos.—The stock has been rapidly increased for the

acquisition of new lines, and in 1380 a distribution of 20 per cent in
made. Dividends have been: In 1877, 9 per cent; in
1878, 10bj; in 1879,8; in 1880, 9*4 cash and 20 stock; in 1881, in
1882, in 1883, in 1884, iu 1885 and in 183 S 8 paid. The prices of stock
have been: In 1881, 133*s®182*2; in 1882, 120*3® 141; in 1833,-115%,®
1293s; in 1884. 107® 1273*: In 1885, 115*2®133*2; in 1836, L23%®
141; in 1887 to Nov. 18, inclusive, 1237s®156.
The C. B. & Q. ou many of its branch Hues gave a traffic guarantee of
40 to 50 per cent, which was used in purchasing their bonds. The
Kansas City St. Joseph & Council Bluffs and branches was purchased
(254 miles), and the Chic. Burl. & Q. stock issued therefor at $125 per
share, taking the St. Jo. stock at $72 50 per share. Enough of the C. B.
& Q. consolidated mortgage is reserved to take up prior debts. The
bonds of 1876 are secured by mortgage bonds of like amount on St.
stock was

Louis Rock Island 6c Chicago road deposited with trustees. The collateral
trust Nebraska extension bonds of’87 (New Eng’d Tr. Co., of Mass., trus¬
tee,) are issued at $20,000 per mile for single track and $ L0,0o0 per mile
additional for second track. See abstract of in >rtg. in V. 45. p. 441.
The several sinking funds amounted Deo. 31, 1836, to $1 &,062,035,
as forovvs: For land grant bonds, Burlington & Mo. River RR. (Iowa),
$6,375,568; 4 and 5 per cents, Iowa Division, $1, L93,0->5 5 per cents
for Albia Know. & Des M. RR., $215,764; 5 per cents for8t. L. R. t. &
C. RR., $62 f,833; l per cents of 1922 (Denver extension). $4-15,353; 4
per eeuts of 1921 (Bur. <fc S. W. Rv.). $238,214; B. & Mo. River RR. in
Nebraska 6 per cents of 1918, $2,265,724; B. iV Mo. River i
Nebraska
4 per cents of 1910 (A. & N. RR.), $542,043; Republican Valley RR. 6
percents of 1919, $118,51 q Lincoln & N. W. RR. 7 percents of 1910,

$47,933.

Many of the bonds are redeemable (may be drawn) before maturity at

various prices, plus accrued interest, as above stated iu tue table. The
Bur. 6c Mo. iu Nebraska 6s, due 1918, are redeemable at 100, but this
for the “ exempt” bonds applies only after 190-b
Land Grant.—In Iowa only 12,000 acres remain unsold, and the con¬
tracts outstanding Dee. 31, ’86, were for $427,680, principal and Inter¬
est. In Nebraska the net sales for the year 1886 were 10,947 acres,
for $69,269. Contracts on hand, $1,829,849; unsold lands, 81,000
acres, estimated at $4 per acre, $324,000.
Operations and Finances.—The Chicago Burlington & Quinoy Rail¬
road has been one of the most profitable in the counirv, as its numerous
branches tributary to the main line were built into choice agricultural

territory, where they enjoyed a monopoly of the local business at full
The company gives no full traffic statistics iu its report, and the
mileage of freight ana passengers is not known; hut corn is the most

to St. Paul, Minn., 348 miles, and tracK from Fulton to Savanna,
Ill; total
360 miles. The road was completed Aug., 1886, under

rates.

160).

1887 (9mos.) grossearn’gs were$20,290,935
against $19,326,363 in 1886; net, $9,056,176, against $9,135,676.
The annual report for 1886 was published iu the Chronicle, V. 44,
Comparative statistics for four years are as follows:

Chicago B. & Q.
as per circular of August 1, 1885 (In Chronicle, V. 41, p.
The Chic. B. & Q. and Chic. & Iowa give a traffic guarantee for
twenty yeais of one-half of their net earnings derived from business to
and from the C. B. & N., to be not less than $100,000
per year, for the
auspices,

purchase
of C. B. & N. bonds at 105; and after 1896 the
be retired at 105.

bonds may all
Any 2 1 mort. issued must be limited to $10,000 per
mile, and shall provide tbar, out of the bonds issued thereunuer, an
amount equal t > the principal of tbe debentures then
outsianding
shall be reserved and applied only to their
payment. From Jau. 1 to
■Sept 30 in 1887 (9 months) gross earnings were *1,786,413; net earn¬
ings, $447,766. (V. 43, p. 125, 217, 308, 334, 516,619; V.45, p. 210, 4360
Chicago Burlington Sc t^uincy.—Line of Road.—1Tim C. B. &
one of the most complex railroad systems in the U. 8.
It has a net¬
work of lines iu HI.. Iowa and Neb.
The main line extends from Chic.
HI-, to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
miles, and from Pacific Junction to Denver, Col., 577
miles,making the
distauee from Chicago to Denver 1,057 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used
jointly with K. C. St, Jo. & C.
B.), making the C. B. & Q line, Chicago to Council Bluff's. 498 miles.
The Extens. to Denver was opened Mav, 1882. Besides numerous
local
roads the company also has its liue iu Illinois to East St.
Louis, and to
Quincy, connecting with the Hannibal Sc St. Joseph road (purchased by

Q. Is




important article carried.
From Jan. 1 to Sept. 30 in

1883.

1884.

1885.

1886.

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

3,224

3,369

3,534

3,914

98

98

operated..

3,322

3,467

Total

122

113

4,036

3,647

FISCAL RE8ULTS.

Warnings—
Passenger
Freight..
Mail, express. &o

1883.
$

5,285,839
19,514,161

1,310,369

1884.

1885.

$
5,339,866

$

1886.
$

5,633,261
5,286,407
18.514.432 19,565,854 19,367,935
1,629,315
1,727,212
1,704,161

Total gro=»8 earnings
Oper. exp. & taxes..

26,110.369

13,496,479

25,483,613
14,090,745

26,550,425
14,405,763

26,723,408
14.491,693T

Net earnings

12,613,890

11,392,863

12,150,657

12,236,725

P.C. of op.ex. to earn

51-7

55-3

54*25

54*22

November, 1887

RAILROAD

J

Subscribers will confer a

great favor b y giving

Chicago

first page

immediate notice of anj error discovered in these Tables.

Miles Date
Size, or
of
Par
of
Road. Bonds Value.

notes

explanation of column headings, &c., see
on

of tables.

Burlington dk Quincy—(Continued)—

148
146
72
274

Repub. Valley RR. (drawn at 100) s. f., $14,OOO.o
Atchison A Nebraska. 1st mortgage
Lincoln & No’w’n RR. bds (drawn at 100) s. f. 1 p.o.
Kansas City St. Jo. & C. Bl., mortgage
Chicago dk Canada Southern— 1st mort., gold

Chic. Detroit dk Canada Or. Trunk Junction—1st
Chic, dk East. III.—Stock
1st M.. coup. (s. f. $20,000 after ’85)
Consol, mort., gold (for $6,000,000)

Collateral trust bonds
C. A E. Ill. Extension, 1st mortgage
Dan. A Grape Creek RR.—1st mortgage
Strawn A Ind. State Line bonds, guar
Chicago dk Or. Trunk—1st M., $ A A ($556,000
2d mort
Northwest. Grand Trunk, 1st mort
Chicago dk Oreat Western—1st mort., gold
2d mort, for $4,000,000
Chicago dk Indiana Goal—1st mortgage

67
59
246

M.

*

res’d)

s

1879
1878
1880
1877
1872
1864

1st M.,Ia.&Dak.Ext.($15,000 p.m.)
1st mortgage (Prairie du Chien)
2d mortgage (Prairie du Chien)

tS.fi
a *

Milwaukee A Western

....

lOOAc.

1,000

208

1884

1,000

15
7

1881
1880

3,000
1,000

330
330
66
10

1880
1882
1880
1886

$100 Ac

1,435

8

lOOAc.

1877

....

....

1886
1870
1375

145
80
24

S

370
230
49
126
234
195
195
....

500 Ao.

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

2,683,000
2,000,000
131,000
121,000
150,000
5,444,000
6,000,000
556,000
4,000,000
(D
3,689,000
1,750,000
400,000

....

Rate per

When

Cent.

Payable

J.
Boston, Co.’s Offloe.X
do
do
8.
do
do
J.
do
do
J.
O.
J.
London, England.
A S. N. Y., Central Trust Co.
A D. New York, 4th Nat. Bk.
A 0. N. Y., Central Trust Co.

J. A D. New York, 4th Nat. Bk.
M. A N. Boston, Globe Nat. Bk.

6 g.
5
6
5 g.
5
5
8
8

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

1875
1863
1867

1,000
1,000

11,470.000
5,264,000

1,000

1864
1869
1878
1868
1868
1861

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

3,198,000
123,000
541,000
3,505,000
3,674,000
1,241,000

1,000

215,000

7
7
7
7
7
7
8
7-3
7

Bonds—Prino:—

pal,When Due.
Stocks—Last
Dividend.

Whom.

6
6

7
7 g.
6
3
6

2**
3*«

....

Payable, and by

6g.

7

40,904,261
21,596,900

■

Where

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

6

7

100
100

....

A
A
A
A
A
A

Jan. 1, 1919
Mar. 1, 1908

Jan. 1, 1910
Jan. 1, 1907

April 1, 1902
July 1, 1884
Sept. 1, 188T
Deo. 1, 19Q7
Oot. 1,1934
Dec.

1, 1931
May 1, 1920

A J. New York and London. J&Qi I* 1900
do
do
Jan., 1922
A J.
A J. N.Y.. E.P.Beach.B’way. Jan. 1, 1910
June 1,1936
New York Officer
AD.
June 1,1936
AD.
Jan. 1, 1936
N. Y.. Met. Trust Co.
A J.
A J. N.Y., Farmers’ L. AT. Co. 1900 A 1901
1895
A O.
Oct. 14, 1887
A O.
New York, Office.
Oot. 14, 1887
do
do
A O.
do
do
A J.
July 1, 1905
1893
do
do
A J.
do
do
A J.
July,
do
do
A J.
1899
do
do
A J.
do
do
July 1, 1908
A J.
1898
do
do
A A.
1898
do
do
A A.
1891
do
do
A J.

^18 97

Capital stock, $1,428,000. This road is controlled by the Chicago
Burlington & Quincy, which owns the stock and bonds.
Chicago Milwaukee Sc St. Paul.—(Nee Map.)—Line of Road.—
The company operates a great consolidated system of railroads in Illinois,
Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the
miles.

1885.

1886.

$
$
$
$
12,613,890 11,392,868 12,150.657 12,236,725
324,180
566,769
592.432
615,342
1,595,788
1,129,591
985,796
846,771 accompanying map. The main through lines are from Chicago to Mil¬
14,533,858 13,089,228 13,728.885 13,698,838 waukee, 85 miles; Milwaukee to 8t. Paul and Minneapolis, via La Crosse,
341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (oppo¬
$
$
$
$
Prairie du Chien) to Chamberlain, Dak., on the Missouri River*. 442
144,506
139,604
187,171
153,215 site
miles;
Chicago, via Savanna, on the Mississippi River, to Council Buffs,
4,093,005
4,294,263
4,391,004
4,304,284
487 miles; Minneapolis to Aberdeen. Dak., 288 miles. On Dec 31,
5,566,580 6,110,572 6,110,722 la.,
5,566,484
1886, the mileage in Illinois was 313; in Wisconsin, 1,231; in Iowa, 1,511;
8
8
8
8
Minnesota, 1,117; in Missouri. 12; in Dakota, 1,114. Total miles oper¬
646,430
938,064
646,430
670,295 In
500.000
1,500,000
1,000,000 1,000,000 ated. 5,298. On Nov. 1, 1887, the line to Kansas City was opened.
Organization, Ac.—1The Milw. & St. Paul RR. Co. was organized May
Total disbursements 11,950,425 11,448,532 12,238,436 12,325,236,
1863, and embraced a numoer of other companies, including the Mil¬
Balance,surplus
2,583,433
1.640,696
1,490,449
1,373.602 5,
waukee & Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and
-(V. 44, p. 59, 90, 211, 343, 415, 432, 466, 518, 525; V. 45. p. 52, 210,
others. The Milwaukee & St. Paul afterward purchased the St. Paul A
373, 441, 575.)
;
Road and others, and built the line from Milwaukee to Chioago,
Chicago Sc Canada Southern.—Owns from Grosse Isle, Mich., to Chicago
and on February 11,1874, the company took its present name. The
Fayette, O.', 67 miles. On Nov. 1, 1879, it was transferred to the Lake The fiscal
year ends Dec. 31. The annual meeting is held early In June*.
Shore A Michigan So. It has a capital stock amounting to $2,667,400
Stocks and Bonds.—The preferred stock has a prior right over the
and a bonded debt of $2,541,000, and owes $2,223,051 overdue coupons.
Original cost, $5,176,557. It is a part of a projected line between Chi¬ common stock to a dividend of not over 7 p. c. from net earnings in
cago and Detroit River, but failed in 1873.
Gross earnings in 1885, each year, but if not earned it has no cumulative right. If a dividend
$40,974, def. under operating expenses, $19,601. Gross in 1886, $45,- was earned in any year and not paid, there might be a claim on future
Receipts—

Net earnings
Interest and exch
Net B. & M. I’d gr’t..
Total income
Disbursements—
Rentals paid
Interest on debt
Dividends
Bate of dividends...
Carried to sink’g f’d.
TransFd to ren’al f’d.
..

.

3.000,000

1,000

INCOME ACCOUNT.

1884.

$1,078,000
1.125,000
600,000
5,000,000
2,541,000
1,095,000
3,000,000

$1,000

116

...

Consolidated mortgage (for $35,000,000)
1st mort. ('Lacrosse Div.)
1st mort. (Ia. & M.)
1st mortgage (Minnesota Central)
1st mortgage (Iowa & Dakota)

Amount

Outstanding

100
100
100 Ao.

Chicago dk Iowa—1st A 2d morts. (1stIs $600,000).
1st A 2d mortgages C. R. & N
5,298
Chicago Milwaukee dk St. Paul—Com. stock
5,298
Preferred st’ek (7 p. c. y’rly, not cumulative)

1833

31

BONDs

AND

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

STOCKS

613; deficit under operating expenses

and taxes, $9,443. On October years for such dividend. After payment of 7 on pref. and 7 on com.,
both classes share pro rata. Dividends paid since 1873 have been as
follows (prior to ourrent year): In 1874, 7 on preferred paid In consol,
bonds; in 1875 no dividend; in 1876, 3*3 cash on preferred and 14 per
ceut in bonds; in 1877, 3*3 on preferred; in 1878, 10*2 on preferred; in
1879, 2*2 on common and 7 on preferred; in 1880,1881,1882. 1883 and
1884, 7 ou both; in 1885, 4 on common and 7 on preferred; in 1886, 5 on

23,1886, a suit in foreclosure was begun. (V. 43, p. 515.)
Chicago Detroit A Canada Grand Junction.—Owns from
Port Huron, Mich., to Detroit Junction, 59 miles.
Opened in 1859.
Leased to Grand Trunk of Canada. Earnings in 1886, $237,045 ; net,
$32,128; paid interest, $65,700, and dividends, semi-annually, each 2
per cent, $43,800; deficit, $77,371, advanced by lessees. Capital stock,
$1,095,000. There is also a 5 per cent bond for $691,141 issued to G.
T. RR. Co. The road is owned by the lessees.

Chicago Sc Eastern Illinois.—Owns from Dolton, Ill., to Dan¬
ville, Ill., 107*2 miles; Covington, Ind., to Coal Creek, Ind., 9 miles;
Danville to Sided's, 22 miles; leases, Dolton to Chicago (use of track C.
AW. I.), 16 miles; Wellington Junction to Cissna Park, 13 miles; Evans¬
ville Terre Haute & C. RR., Terre Haute to Danville, Ill., 55 miles; Otter
Creek to Brazil, Ind., 13 miles ; Danville, Ill., to Covington, Ind., use of
track, 13 miles; total operated, 246 miles.
The Chicago A East Illinois was chartered as Chicago Danville &
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos¬
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877.
Under tlie terms of leases the C. & E. 111. guarantees interest on $1,515,000 bonds of leased roads. There are $05,000 of 2d mort. incomes, due
1907, yet out
In April, 1887, a sale was made of nearly the whole stock of this com¬
pany at 110 to parties interested in the Chicago A Indiana Coal Rail¬
way (see V. 44, p. 458), and in Nov., 1887, a con.salidation was made
with the several branches, preparatory to a merger with the Chicago A

common

and 7 on preferred.
in prices ot stocks since

The range

843*: in 1879,7438

1877 have been: Pref. In 1878,64®

01023*: in 1880, 990124*8; in 1881,

1163*0140; in

1882,114*20144*4; *** 1883,1150122*4; in 1884, 95780119: in 1885,
1020125; in 1886, 11601253*; in 1887 to Nov. 18. Incl.. 1100127*4.
Common—In 1878. 27*3054^; in 1879, 3438082*8; in 1880, 66*30
1143*; in 1881, 101*30129*4; in 1882, 96*30128*4; in 1883, 913*®
108*3; in 1884, 58*4094*4; in 1885, 643*099; iu 1886, 82^8 099; in
1887 to Nov. 18, incl., 695s095.
An abstract of the terms of some of the principal mortgages was pub¬
lished in the Chronicle, V. 45, pp. 85, 114, 144 and 212.
Of the consolidated mortgage bonds of 1875, enough were reserved to
take up the prior bonds; these bonds may ho stamped and discharged
from the sinking fund provisions.
The Chicago & Pacific Western
Division bonds are issued at $20,000 per mile on new lines built or ac¬

quired.

The St. Paul A Chicago, the

Chicago A Milwaukee, the Consoli¬

dated and the Iowa A Minn. Div. bonds are convertible into preferred
stock. The terminal bonds issued in 1884 are secured by mortgage on
the terminal property in Chicago and Milwaukee, subject to
of the general mortgage on part of the track and
cities; but it covers also property quite detached which cost

the lien
terminals in these
about
June 30, 1887, gross income was $1,950,104
$3,000,000 acquired some time after the general mort. was made; also
net, $800,042; interest and rentals, $579,756; surplus, $220,285; divi¬
property to be acquired as needed to amount of $3,000,000 and
dends, 5^ per cent, $165,000; balance, $55,285; charges for new con¬ depot in Milwaukee costing $1,000,000. The Income bonds of 1886
struction and equipment. $606,711.
(V. 43. p. 102, 398, 430; V. 44,p. are for an authorized issue of $5,000,000, and are convertible into
433,458.553; V. 45, p. 142,304,340,472,508,642.)
common
stock, on notioe, 60 days after any dividend day. They
Chicago Sc Grand Trunk.-Line of road from Port Huron, Mich., have a sinking fund of 4 per cent, beginning in 1889, and may
to Chicago, 330*2 miles; also uses 4*3 miles of Chicago A West. Indiaua be drawn at 105. After ’88, if a majority or the bondholders so request,
and 4 miles Grand Trunk Junction RR.; total operated, 339 miles. This a 2d mortgage shall he made on the line, Chicago to Kansas City,
is a consolidation of roads between Port Huron and Chicago formed in- and a first on the Mo. River bridge and terminals in Kansas City.
April, 1880, under the control of the Gr. Trunk of Canada. It includes In addition to above bonds there are $89,000 Hastings A Dak. 7s, due
the fo rmer Port Huron A Lake Michigan and the Peninsula roads, sold in in 1902, and $35,000 Oshkosh A Miss. River 8s, due in 1891; also*
foreclosure. StocL, $6,600,000 in $100 shares. The Grand Trunk of $275,000 5 per cent real estate mortgages due in 1890 and 1894.
Canada gives a traffic guarantee of 30 per cent of gross earnings on
Operations, Finances, Ac.—The mileage and also the stock and debt
business to and from the Chicago & Grand Trunk Road. Gross earnings of this
company increased very rapidly in six years, the miles owned
from Jan. 1 to 8ep\ 30 in 1887 (9 months) were £518,500, against
being 2,359 on January 1, 1880, against 5,298 on January 1, ls87. and
£451,842 in 1886; net, £135,007, against £92,283. Gross earnings ror the stock and bonded debt, in round figures, $69,000,000 on J: nu iry 1,
1885. $2,681,220; net, $385,553. In 1886, gross earnings, $3,041,40-; 1880,
against $164,118,161 January 1, 1887. In June, 1887, *10,0J0,net, $685,349, all expended in payment of interest, rentals, Ac. (V. 000 new common stook was issued for new acquisitions, ext unions,
44, p. 400; V. 45. p. 52.)
Ac., of which $7,000,000 (12 per cent on their holling-t) was a:i tied to
Chicago Sc Great Western.—Owns a double-track road entering stockholders of record June 25, at $85 per share.
Chicago from the west, and terminating at Polk st., east of the Chicago
1887,
An article on the * aruings and traffic from Jan. 1 to June
River, with large terminal property. The interest bn 1st mort. bonds is was in the Chronicle, V. 45, p. 592.
guaranteed by the Wisconsin Central and its allied lines, which'enter
From Jan. I to Aug. 31 in 1887 (8 mos.), gross earnings v ere $15,Chicago over this road. Stock, $8,000,u00.
047,854, against $14,646,201 in 1886, and net earnings, $5,109.892,
Chicago Sc Indiana Coal.—Line of road, Brazil to La Crosse, Ind.» against $5,135,030.
145 miles. In May, 1887, leased 34 miles of the Chic. & West Mich,
The annual report for 1886 was in V. 44, p. 399. The st ti. tics in
Indiana Coal road.
For the vear ending

f

road, La Crosse to New Buffalo.

This company acquired at foreclos¬

detail

were

given in the Chronicle, as

follows;

OPERATIONS AND FISCAL RESULTS.
parties imer
eeted in the C. A I. C. mad purchased the stock of the C. A E. Ill. RR at
1883.
1884.
1885.
110. The stock ami orizid is $6,000,000 common and $4,000,000 pref., Miles operated
4,760
4,804
4,921
of which $2,197,800 com. and $1,465,200 pref. have been issued. Divi¬
Operations—
dend of 1*2 per ceut payable on pref. stock Dec., 1887. Gross earn¬ Passengers carried..
4,591.232
4,904,678 4,819,187
ings for year ending June 30, 1887, $381,372; net earnings, $174,870; Passenger mileage... 235,579,660 225,851,443 214,550,187
interest. $l4«,7s2; rental, $3,250; surplus. $24,888. H. H. Porter, Rate per pass. p. mile.
2#52 cts.
2 55 018.
2*56 cts.
President. (V. 43, p. 66, 516, 658; V. 44, p. 458, 494, 495.) ...
Freight (tons) moved.
5,661,667
6,023,016 6,482,869
Chicago Sc Iowa.- Owns from Aurora, Ill., to Foreston, Ill., 80 Freight (tons) mil’ge. 1176605032 1247737233 1337721453
1*39 cts.
1*29 cts.
1’28 ots.
miles; leased, Flagg Centre to Roskford. 24 miles; total operated, 104 Av. rate p. ton p. mile.

ure the former Chic. A Great




Southern, and in April, 1887,

1886.

5,298

5.481,400
234.414,700
' 2 cts.
7.- 85,072
1486509713
1 17 cts.

jevils Late

MAP OF THE

CHICAGO, MILWAUKEE

Carrington j

@ ST. PAUL RAILWAY

y-O-VV
'VPi"

^/pj

\tc*

"£>

^

/irope
Ca&,

PAC.

northern

*

,\ps

\Burne.s V.

CT

s>'

:<*n

and

rUlyndon^V Detroit

connections.

Du\

N. P.Jc.

oTelicrmyRapids
*X

/

-nsTsSv^adena

EDGELYCjJ

Ns'“

LalMoure'J
^.Ouke.si

^.0ncy

-V'-

^

ELLEN

^
o
HILLSVIEW^

% hafMem
[ T/
ColUiJLy ‘
DALE*

Frederick

^Ojj,

^ Westport
BOWDLE^J

^cReigstudt
Ic.Lo

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I

Uoi’se Ifead*^

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r—

a

I

o^au

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wLite Swati%.

>^=^1

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*

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#
fj REE VALLEY Schley1

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Claire

INVESTOR’

SUPLEMNT.

i

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Subscribers will confer a great

favor by giving Immediate notice

&c., see notes

Paul—(Coni’d)—

P.&C.lst M.(Riv. D.)$A£(conv.) \ Seepreced C
1st M.,Chic. A Mil. line....
S iugpage. *
Bonds on Lac’se ADav. Div., for Dav. &Nw. RR.
1st mort. on S. W. Div. Western Union RR
1st mort. on Chic. & Pac. Div., Chic, to Miss. Riv..
1st mort. on So. Minnesota Div. ($9,000,000) —
Land grant income bonds
1st M. on Hast. A Dak. Div.extens.($L5,000 p.m.)
1st M. on Ch. Cl. D. & M

St.

1st mort. on Wisconsin Valley RR
Prior mort.
do
1st mortgage, Mineral Point Division
1st mortgage Chic. A Lake Superior Div.,

IstM.Wis. A Minn. Div.

($20,000

p.

m.)

$5,000,000)
gold, assumed..

incomes
Dakota A Gt. Soutli’n, lrt, gold ($18,000 per in.).
do

130
85
185
212
119
419

;

....

417
372
107
142
68
230

Terminal mort., gold, coup, or reg.(for

Fargo & Southern, 1 st mortgage,

of
Road. Bonds.
of

107

1st M.,gold, on Chic. & Pac., W. Div., $20,000 p. m.
Chic. A Mo. Riv. Div., lstmortg., ($20,000 p. in.).
Income bonds convertible

Chicago & Northwestern—Common stock
Preferred st’ck (7 p. c. y’rly, not cumulative)

1,245
77

119

$

$

5,927,668
16,365,354
1.366,802

Passenger

Freight
Mail, express,&c

5,766,843
16.128,964
1,575,191

....

1876
1871
1872
1870-1
1871
1870

5,499,737
17,101,742
1,811,794

injuries and damages to
trackage, &c.

Other receipts
1.
164.707
Total income
10,046,494
Disbursements—
$
Interest on debt
5,373,925
Divs. on both stocks*
3.212.895
7 bot.i
Rate of dividend
....

Tot. disbursem’nts
Balance for year....
•These are the

ti

me

8,586,820
1,459,674

$

$

9,6111369
82,307

9,693,676
$

5,918,608
3,321.167

1,000

1.700,000
560.000

500 Ac.
500 Ac.

1,000
100 Ac,

1,000

1886.

$

6,096,573
2,391,039

144.654

7 both

7 & 4

7 & 5

8,490,612

9,294,169

1884.

1883.

$

$

1,008,624

without regard to the

1835.

$

Railroad,equipm’tAcl46,093,665 149,426,734 154,228,775

754,792
1,452,309
1,223,043
1,483,365 1,543,217
3,048,965
2,971,133 4,262,378
944,132
617,026
680,475
Total assets
154,022,017 156,936,049 162,858,497
Liabilities—
$
$
$
Stock, common
30,904,261 30,904,261 30,904,261
Stock, preferred
16,540,983 16,540,983 21,540,900
Funded debt
96,272,000 100,254,000 101,470,000
All other duos Aacc’ts
1,711,099
2,093,163
164,958
St’ks&b’ds own.,cost
BillsAacc’ts rec’able
Materials, fuel, Ac...
Cash on hand
Ill. & Iowa coal lands

1,161,980
1,550,232

1,228,283

1,146,059

~

Total

1886.

$

165,898,616

877,486
768,782

2,048,985
4,682.431
583.526

174,859,829

$
30,904,261
21,555,900

111,658,000
431,825

2,249,109

1,610,661

1,729,269

5,532,981

7,049,109

8,057,734

liabilities..154,022,017 156,936,049 162,858,497

174,859,829

Unpaid pay-rolls, Ac.
Land department...
Income account

1,732,687
1,781,907

5,079,080

472, 572, 60S, 635; V. 44, p. 22,117,149, 260,
83, 392, 399, 526, 681, 712, 751; V. 45, p. 85, 114, 144, 210, 212,

-(V. 43, p. 387, 399,
4

JO, 472, 592, 613.)..
Chicago Ac Northwestern.—(See Hap.)—Line of

g.

&

g.
g.

J.
A.

g•

J.
J.

7
7 g.
7
7

10,302,793
.$
6,241,093
3,053,076

1,516, L29

200,000

2.977.500

10,158,139

105,939
10,006,741
$

4,666,000
1,250,000

g.

12,651,000

5,661,690
17,358,294
1,698,419

when they were earned.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

Assets—

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

988.000

5
5
5
5
5
5
5
6
6
5

6

1,000

9,900,802

actual dividends paid in the year,

J.

6
6
6
7
7 A 5

3,000,000
7,432,000
1,437,000
6,265,000
6,576,000
1,669,000
1,106,500
2,840,000
1,360,000
4,755,000
24,540,000
2,049,000
2,000,000

500 Ac.

9,239.775
453,901

7

5

2,500,000
4,000,000

1%

1836.
$

1885.

1884.

$
9,881,787

6

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

3

INCOME ACCOUNT.

Receipts—
Net earnings

7 g.
7

22,323,170

t Including elevators, stock-yards, per¬
property, legal, insurance rent of cars,

1883.

Pay’ble

31,367,4.50

—

Includes renewal of track,

Cent.

100

earn’gs 23,659.824 23,470,993 24,413.273 24,713,403
$
$
$
$
Operating expenses2,641,977
2,551,327
2,339,635
2,548,609
Maint’nce of way*...
2,327,875
2,430,809
2,574,437
2,489,257
Maint’nce of equip’t.
8,675,045
8,646,132
8,102,668
Transp’rt’t’n exp’n’st 8,011,533
759,350
733,545
702,060
614,609
Taxes
150.658
156,017
140,329
114,029
Miscellaneous
Tot. operating expf 13,859,629 14,512.471 14,500,264 14,500,204
9,900,802 10,153,139
9,611,369
Net earnings
9,881,787
58-90
59-45
5905
5823
Pr. ct.op.ex. to earns
*

When

100

....

1865
1871

Rate per

2,393,000

.

Total gross

sonal

Outstanding

Value.

$3,804,500

1885.
$

1884.

1883.

par

1,101

.

Amount

1872 $500Ac.
1.000
1873
1879
1,000
1879
1,000
1880
1,000
1880
1,000
1880
1880-6
1,000
1880
1,000
1880
1,000
500
1879
1880
1,000
1881
1,000
1881
1,000
1,000
1881
1886
1,000
1886
1,000
1884
1,000
1883
1,000
1885
1886
1,000

4,ioi

776
Consol, sinking fund M
126
Madison extension, 1st mort., sinking fund, gold.
85
Chic. A Mil., 1st mortgage
25
Menominee River, 1st mort., guar
120
Menominee extension, 1st mortgage, gold
Gen. cons mort., gold, coup, orreg. ($48,000,000) 1,058
137
Winona & St. Peter, 2d mort., guar, by Chic. AN. W.
175
do
1st M. exten. gld,, land gr., s. f..
75
Iowa jVTdland, 1st mort., guar, by Chic. A N. W..

Earnings—

Size, or

Date

Miles

explanation of column headings,
on first page of tables.

Chicago Milw <£• St.

of any error discovered In these Tables.
INTEREST

DESCRIPTION.
For

33

BONDS.

AND

STOCKS

KAIL ROAD

1887.]

November,

275,
312,

7 g.
7 g.

2,549,500
12,343,000
1,592,000
4,079,500

7
7 g.
8

1,350,000

A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A

OR

Where

J. London and New York.
New York, Office.
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
Boston.
J.
New York, Office.
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
O.
do
do
J.

Stocks—Last
Dividend.

•Tan., 1902

1903
July 1, 1919
July 1, 1909
Jan. 1, 1910

Jan. 1,

Jan.

D. New York, Co.’s

do
do
do
do
do
do
do
do
do

Q.-F.
J.
J.
D.
D.
N.
D.
O.

do

Office.

1910

1.

Jan.
Jan.

1, 1890
1, 1910
July 1, 1920

July 1, 1920
1, 1909
July 1, 1910
July 1, 1921
July 1, 1921

Jan.

1, 1921

Jan.

July 1, 1926
July 1, 1916
July 1, 1914
Jan. 1, 1924

v

A. A O.

A
A
A
A
A
A
A. A

pal .When Due.

Payable and by
Whom.

Q.-M.
J.
J.
J.
J.
M.
J.

Bonds—Princi¬

DIVIDENDS.

Jan.
June

1895
1. 1916

25, 1887

Sopt. 22, 1887

do
do
do
do
do
do
do
do
do
do

Feb.

1,

1915

April 1,
July 1,
July 1,
June 1,
Deo. 1,

1911
1898
1906
1911
1902

Nov. 1, 1907
Dec. 1, 1916
i Oct. 1, 1900

8tociv and Bonds.—Of the common stock, $10,009,701 was held in
the company’s treasury on May 31. 1887. making the whole common
stock $41,374,866.
Preferred stock has prior right to 7 per
then common 7 per cent ; then preferred 3 per cent; then common 3;
then both qlasses share. Dividends since 1875 (prior to the

cent;

current

year) have been: In 1876, 2^ on preferred; in 1877, 3^ on preferred;
in 1878, 7 on pref. and 5 on com.; in 1879, 7 on pref. and 5 on com.;
In 1880. 7 on pref. and 6 on com.; in 1881, 7 on pref. and 6 on com.; in
1882, 7% on pref. and 7 on com.; in ’83 and ’84,7 on com. and 8 on pref.
in 1885,
ou com. and 7 ha on pref.; in 1886, 6 on com. and 7 on pref
Prices of stock since 1877 have been as follows: Common in 1878,
32Lj05514; in 1879, 49580941s; in 1880. 871s0l3O; in 1881, 1170136;
in 1882, 124015O3i; in 1883. II5140I IOI8; in 1884, 81^0124; in 1885,
8438011534; in 1886, 104\i@I20r*8; in 1887 to Nov. 18, inclusive,
10414012758- Pref. in 1878, 5934079^; in 1879, 767q01O8; in 1880,
10401461c; in 1881, 131%0l47ie: in 1882, 1360175; in 1983,1340
157; in 1884. 11701491c; in 1885, 119%013978; in 1886, 1350144;
in 1887, to Nov. 18, inclusive, 1373* 0153*4.
The sinking fund bonds of 1879 are secured by a deposit of mort.
bonds. 011 the new roads acquired at the rate of $15,000 per mile, and the
terms under which these are issued were published in V. 29, p. 277.
Of these bonds so far issued, $6,305,000 are 6s and the balance
5s.
There are several small issues of bonds in addition to those in
the table above, viz.: Beloit A Madison RR., $91,000. 7s, due Jan. 1,

$100,1898.
the Chicago

1888 ; Minnesota Valley RR., $150,000. 7s, due 1908 ; Plainview,
000. 7s, due 1908 ; Peninsula Railroad (Mic-h.), $152,000 7s, due
The $10,000,000 debenture bonds were issued to pay for
St. Paul Minneapolis A Omaha stock; the sinking fund for these bonds
is $200,000 per year from May, 1888, if they can be
I11 June, 1884. the new issue of $6,0u0,000 5 per cent debenture
was

authorized, of which $1,966,500 went

redeemed at 105.
bonds

for the purchase of Blair

roads and the balance to be used for improvements as required.
future mortgage on the property of the company owned at
bonds, shall include them.
The C. A N. W. exten. bonds of 1886 are direct bonds of the C.
W. Company, secured by the deposit in trust of the 1st mort.
roads constructed or acquired, at the rate of $20, 000 per mile.

Any

date of these

mortgage is

A N.

bonds of
The
for $20,000,000, and the Union Trust Co. of N. Y. is trustee.

In addition to bonds in above table there were live bou ts in the sink¬
ing fund amounting to $1,116,500 May 31, 1887.
Land Grant.—The lauds of the company have been acquired by the
purchase of the Winona A St. Peter and other roads that have been

consolidated. The Commissioners’report for 1886-87 showed that the
total consideration for the lands and lots sohl in that year amounted to

$687,637.

Net cash receipts were

HUIO

A IjIU Ott*LVJLUV^Lll'
statement of ULUOU.11UO
$689,589. The
amounts
tpOUOjOUUt

of sale in

secured to be paid to the company by outstanding contracts
al year showed a total of $1,269,702.
force at the end of the fiscal
TABLE OF LANDS UNSOLD FOR YEARS ENDING MAY 31.
Name of grant.
1885.
1884.

1886.

Minnesota

685,577

626,811

574,362

Michigan

461,847

443,296

420,429

1887.

373,819

379,299

297,708
299,041
303.165
Total
1,456.147
1,050.826
1,373,272
1,293,831
Oi’E rat ions, Finances, Ac.—The Chicago A Northwestern Railway
has pursued the policy of extending rapidly its lines in the far West.
The stock had not been much increased until the issue of new stock
for stocks of proprietary roads, and a large nominal surplus had been
rolled up, amounting to about $32,000,000 in May, 1886, of wluoli over
$21,000,009 was charged off in 1887. (See explanation of this in V.

308,723

Wisconsin

45, p

160.)

Road—The Chic.
roads and controls 1,339 miles 45,The latest annual report issued (1886-87) was in the Chronicle, V.
p. 177, showing the following:
of Fremont Elk. A Mo. Val.;
ROAD AND EQUIPMENT.
1883-87.
77ofWyom. Cent., ;ind!07 of Sioux City & Pac.; total controlled, 6,347m.
1885-36.
1834-85
1883-84.
The mileage is extensive, and is shown clearly in the accompanying
4,101
3,948
3,843
3,763
Tot. miles oper’d
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
735
698
672
639
Locomotives....
and this forms practically the southern boundary of the whole system,
507
485
481
449
Passeng.Ac.cars
the company having nothing to the south of that line, with the excep¬
22,091
20,513
20,103
20,1 >0
tion of a few insignificant branches. At the end of the fiscal year, May
Freight cars
559
516
470
435
31, 1887, the Clue. A Northwestern mileage was made up in the annual All other cars
OPERATIONS AND FISCAL RESULTS.
report as follows:Wisconsin Division, 549 miles; Galena Division, 400
1886-87.
1883-84
1884-85.
1885-86.
Operations—
miles; Iowa Division, 764 miles; No. Iowa Division, 385 miles; Madison
9,709,934
9,140,195
8,403,884
8,623,183
Division, 509 miles; Peninsula Division, 377 miles; Winona A St. Peter Pass’gers carr’d.
254,709,295
Division, 448 miles; Dakota Division, 566 miles; total, 4,101 miles. In Pass’ger mileage 256,386,389 231,090,788 239,150,020
2-29 cts.
2-36 cts.
2-38 cts.
2-40 cts.
July, 1884, the Blair roads, previously leased, were aoquired by purchase, R’te p.pass.p.m.
9,737,312
8,494,239
8 235 127
but the Sioux City A Pacific and Fremont Elkhorn A Missouri Valley (in¬
Fr’ght(tns) mv’d
8,453,991
1466,892,717
1754,598,596
cluding Wyoming Central) are operated separately (907 miles) and their Fr’ght (tus) m’gel350,173^773 1416,789,205
1-15 cts.
1-24 cts.
1-19 cts.
1-31 cts
earnings not included in those of C. A N.W., but separately stated in the Rate pr.ton p.m.
$
$
$
$
annual reports in the Chronicle oup. 130 of V. 43aud p. 178 of V. 45.
Earnings—
5,820,151
5,646,150
5,498,111
6,153,071
Organization, Ac.—The Chicago St Paul A Fond-du-Lac Railroad Passenger
19,329,484
17,503,244
16,917,391
17,677,866
which was a consolidation of several roads, was sold in foreclosure Freight
1.171.681
1,130,206
1.080.551
1,189.687
June 2, 1859, and the Chicago A Northwestern Railway was organized
Mail, express, Ac
26,321,316
as its successor.
24,279,000
In 1864 the company absorbed the Dixon Rock. A
23,502.056
Gross earn’s.
25,020,624
$
$
$
Kenosha, the Gal. A Chic. Union and the Peninsular RR. of Micliigan,
•$
Expenses—
3,227,245
2,951,88 ■
and has since absorbed by consolidation a large number of other roads,
2,939,253
3,590,!) 17
Maint’ce of way
2,212,289
2,048,6 3
2,193,224
2,418,297
including those which were operated as “proprietary roads.”
cars, Ac,
8.918.681
8,150,221
In December, 1882, a controlling interest was acquired in the stock of
7,970,502
8,429,121
fTausp. A uiiscel
712,125
690.928
702,452
the Chic. St. Paul Minneapolis A Omaha Co. by the purchase of 53,800 Taxes
672,621
shares of preferred and 93,200 shares of com. stock.
15,070,342
13,859,226
13,793,907
15,140,956
Total
In July. 1884, the leased lines in Iowa (Blair roads) were acquired
11,259,974
10,420,374
9,708,149
9,879,668
Net earnings
on the terms stated in the Supplement of June, 188-5, and prior issues.
5725
5706
58-69
60-51
P.c.
exp.
to
earn.
The fiscal year ends May 31. The annual meeting is held early in June.
& Northw. operates 4,101 miles of its own
of the Chic. St. P. Minn. A Om., 723 miles




.

“

...




November,

RAILKOAD

1887.]

Subscribers will

confer a great favor

DESCRIPTION.

by giving immediate notice
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.

Amount

•

For

headings, Ac., see notes
on first page of tables.

explanation of column

W.—(Con.)—N. W. Union, 1st M.,
Rochester A No. Minnesota, 1st mortgage
Chic. Mil. A N. W., construction bonds
Chicago A Tornah, lstmort., guar

Chic. dh y.

gold..

Madison. 1st rnort., guar
fd.bds.GstM. as collateral) ($15,000 p. m.)..
8. f. debenture bonds (for C. St. P. M. A O. stock).
Milwaukee A

62
24
141
154
80
•

mm*

•

•mm

sink.

Debenture bonds of 1909 (for $6,000,000)
C.A N.W. Exten. bds. ($20,000 per M.)
Ottumwa C.F.A St.P., 1st Mm
Des Moines A Minneapolis RR. lstmort.

cAr
gnar.($25,000 p.m.)

Bonds...
Eseanaba A Lake Superior RR., 1st rnort
Dakota Central RR., 1st rnort
do
1st M.. Southeast Div.

North.

(for $2,000,000).
Ill., 1st M. ($20,000 p. m.) guar. C.AN. W.

issues (see remarks)
Cedar Rapids A Missouri River,

Ot.hp.r small

do
do

Chicago Iowa

....

64
58
36
71
125
75

70
58
146
82

1st rnort

1st rnort

1st rnort

A Nebraska,

....

mortgage

Maple River 1st mortg
Fremont Elkborn A Mo.Val.,Consol.bonds
do
do
do
equipment bonds..
Mo.V.A Blair RR.Br’ge, 1st. red’ble aft.’93

Pacific, 1st mortgage
2d rnort. (Gov’t subsidy)
pref. stock
Ohicaao & Ohio River— 1st mort. (for $500,000)
Sioux City A
do
do

....

311
....

....

102
102
....

86

Income bonds, conv. (for $750,000)
1,384
Chicago Rock Islands Fac.—St’ck (for
636
coup,
or
1st mortgage,
reg
271
Chic.A Southw.. IstM.g. (g’d in cur. by C.R.I.AP.)
Exten. and eollat. bonds ($20,000 p.m.) <*p. or reg.
....

$50,000,000)

....

1872
1878
1882
1880
1880
1879
1883
1884
1886
1884
1882
1881
1882
1882

$500Ae

1885

1,000

1861
1863
1866
1863
1877
1883

Outstanding

$3,365,000
200,000

....

601,000

....

1,528,000
1,600,000
14,665,000

....

1,000
1,000

10,000,000

1,000Ac
1,000Ac
1,000Ac

3,869,000
11,852,' 00
1,600,000

1,000
1,000

600,000
720,000

1,000

1,007,000
2,000,000

....

....

500
500
500
500

1,500,000
700,000
582,000

2,332.000
129,000
402.500

....

1,000
....

....

1883
1868
1868
....

1886

1886
....

1877
1869
1884

....

500Ac.
500Ac.

7,725,000
360,000
1.000,000
1,628.000

1,628,320
169.000

....

lOOAo.
....

100

1,000Ac
100 Ao.

1,000

of any error discovered in these Tables.
Bonds— Prinoi.
INTEREST OR DIVIDENDS.

Rate per
Cent.
7 g7

6
6
6
5 A 6
5
5
4
5
7
6
6
6
5

493,000

Ae.
Ac.
Ac.
Ao.

35

AND BONDS

STOCKS

7
7
7
7
7
6
6
6
6
6

3*9

218,000
618,300
46,156,000

6 g.
6

12,100,000

6
7
5

5.000,000

14,960,000

1%

When

Payable

Where Payable,
Whom.

and by

A S. New York, Co.’s Office.
do
do
A S.
do
do
A N.
do
do
A N.
do
do
A S.
do
do
A O.
do
do
A N.
do
do
A N.
do
do
A A.
do
do
A 8.
do
do
A A.
do
do
A J.
do
do
A S.
do
do
A N.
do
do
A S.
do
do
do
do
F. A A.
do
do
F. A A.
do
do
M. A N.
do
do
F. A A.
do
do
J. A J.
do
do
A. A O.
do
do
do
do
J. A J.
do
do
J. A J.
J. A J. U.S. Treas., at maturity
A. A O. New York, Co.’s Office.
M. A N.
Boston, Treasury.
M. A N.
Q.-F. New York, Co.’8 Office.
do
do
J. A J.
do
do
M. A N.
do
do
J. A J.

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

pal,When Due
Stocks—Last
Dividend.

1917
Sept. 1, 1908
Nov. 1, 1905
Nov. 1, 1905
Sept. 1, 1905
Oot. 1, 1929
May 1, 1933
Nov. 1, 1909
Aug. 15, 1926
Mar. 1, 1909
Feb. 1, 1907
July 1, 1901
Sept. 1, 1907

June 1,

Nov.
Mar.

1, 1907
1, 1910

Aug. 1, 1891
Aug. 1, 1894
May

1, 1916

Aug. 15, 1892

July 1, 1897
Oct. 1, 1933
Jan. 1, 1923
Jan. 1, 1898
Jan. 1, 1898
Oot. 5, 1887

May

1, 1916

May 1, 1916
Nov. 1,

1887

July 1, 1917
Nov., 1899
July 1, 1934

foreclosed and pur¬
1880. The present
$50,000,000
$
Receipts—
the holders of
11,250,974
10,420,374
9,708,149
9,879,663
Net earnings....
$
$
$
$
Disbursements—
Stock and
Bonds.—Dividends have been paid as follows since
*28,567
1,568,704
Rentals paid....
5,136.198 1876, viz.: in 1877 and 1878, 8 per ceut; in 1879, 10; In 1880,
5,536,363
*5,064,534
4,527,235
Interest on debit
3,441,504 fc*s cash and 100 p. c. in stock; in 1881, 1882, 1883, 1884, 1885
3,444,504
*3,981,348
2,939,469
Dividends
and 1886, 7. Range of prices of stock was as follows since 1876, viz.: in
7
7
8
8
Rate on pref....
6
1877
82*2 3) 105*2; in 1878, 98^^122; in 1879, 1192)150*2; in 1880,
6
7
7
Rate on comm’n
to July, 1492)204; July to Dec. (new stock) 100*22)143; in 1881, 129
58,000
58,000
58,000
83,000
Miscellaneous
2)14858; in 1882, 1222140*4; in 1883,116*22)127*4: in 1884, 100*4®
1263*; in 1885. 1052132; in 1886, 120*8@131; in 1887, to Nov. 18,
Tot. disb’m’ts.
$9,118,408
$9,132,449 $9,033,867 $8,638,702 inclusive, 109 214078.
The road from Minneapolis west to the June, with Bur. C. R. A N. line
Balance. surplus
$761,260
$575,700 $1,381,507 $2,612,272
(205 miles) is built under the charter of the Wisconsin Minn. & Pac. Com¬
On absorption of Iowa leased lines, rentals ceased and interest and
pany issued by the old Territorial Legislature. The W. M. A P. Co. issues
dividend charges increased.
t Less credit items.
its bonds running for 50 years, bearing 6 per cent interest, at the rate of
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1884-85.
1885-86.
1886-87.
$20,000 per mile, of which $5,000 per mile is for equipment. These
bonds are deposited by Rock Island with the United States Trust Co.,
Assets—
$
$
$
and in lieu or them the Rook Island issues its own bonds for $15,000per
Chic. AN.W.—Road A equip. 127,053,870 127,101,024 ?
lfil 050 mile
of road, but bearing 5 per cent. The difference in interest as it accu¬
Other companies
do
35,539,234 36,628,824 $ *444,it>i,UDU mulates
invested in Rook Island bonds; these bonds may be
Bonds owned
360,242
934,482
'6,082,295 redeemedisatto1<>5be after
July 1, 1894. The St. Joseph & Iowa RR., AltaStocks owned
12,282,159 12,2-2,159 112,282.160 mont, Mo., to Rushville,
Mo., 64 miles, was. completed Jan., 1886, and
Land grant investments
1,221,000
714,000
230,000
in similar collateral trust bonds issued.
1,926,231
1,757,952 $960,000
Bills and accounts receivable
1,890,841
The authorized issue in 1886 of similar collateral trust bonds for $10,Materials, fuel, Ac
1,808,567
2,000,734
3,000,978 000,000
$L5,000 per mile single track, $5,000 for equipment and
2,932,848
4,214,030 $7,500 for(atsecond
Cash on hand
3.807,191
was for the construction of some 7oO miles
Trustees of sinking fund
1.934.004
4.239,170
4,320,175 under the name of track),
t he Chicago Kansas A Nebraska Railroad.
Total
J
$185,897,108 $183,759,528 $176,048,640
Stockholders of Sept. 29, 1837. had the right to take at par 1 0 j e*
Liabilities—
cent of their holdings in new stock-the total issue, $4,196,000, to be
$41,374,806 $41,374,866 |$41,374,806 used for extensions and improvements.
Stock, common
Stock, preferred
The fiscal year ends March 31.
22,325,454 22,325,454 J22,325,454
Annual report for 1836-7 in V. 44, p,
Stocks of propriet’rv roads,Ac
11,220,000 11,230,000
11674,183 712, also article on p. 731. The mileage, earnings, Ac., have been ad
97,384,500
Bonded debt
91,400,500 || 90,511,500
follows:
1883-84.
1885-86. 1886-87.
1884-85.
1,544,221
1,331,600
Divid’ds declared, not yet due
1,331,600
1,934,000
Sinking funds paid
4,239,175 4,320,175 Miles owned & oper..
1,384
1,384
1,384
1,384
Current bills, pay-rolls, &c
1,690,680
2,251,206
2,721,369 Earnings—
$
$
$
$
Uncollected coupons, &c
113,262
140,762 '
135,500 Passenger
3,313,443
3,023,88 4 3,127.258 3,097,91G
316,814 Freight
Rentals of roads in Iowa
31,044
8.056,316 8,144,142 7,713,659 8,037,453
Bonds unsold, Ao
537,000
37,000
37,000 Mail.expr’s, r’nts.Ao 1,165,750
1,038,835 1,163,431 1,183.681
Note of Consol. Coal Co
275,000
125,000
125,000 Total gross earns. 12.535,514 12,206,911
12,3i9,o50
Accrued interest not due
705,060
703,525
1,473,536 Operating expenses 7,298,002 7,160,324 12,004,348
7,166,893 7,5Q4,8(>9
Miscellaneous
120,000
120,000
5,237,.>12
2,954,246
3,194,071
714,104 Net earnings
5,046,587 4,837,455 4,814,241
Laud income account
Railroad income account
9,762.819 11.144.326 1[2,994.539 P.c.of op.ex.toearn.
58-22
58*65
59 70
60 92
INCOME ACCOUNT.
Total
$185,897,108 $188,759,529 $176,048,640
""* Includes
1883-4.
1884-5.
1885-6.
1886-7.
F. E. A M. V. consols and Wyoming Central RR. lsts owin d
and pledged as coll, for exten. 4s of 1886, $5,772,000; also, general con¬
Receipts—
$
$
$
$
sol, gold bonds, $37,000; consolidated sinking fund bonds, $115,000;
Net earnings
5,237,512 5,046,587 4,837,455 4,814,240
bonds of sundry proprietary roads, $156,295; Iron River Furnace From land dopartm’t
470,000
330,000
230.000
310,000
bonds, $2,000.
Total income
5,707,512 5,376,587
5,147.455
5,044,240
t Includes Chic. St. P. M. & O. stock, $10,315,659; F. E. A M. V. RR.
$
Disbursements—
$
$
$
stock, $1,966,500. Also owns C. A N. W. common stock, $10,007,416, Rent leased roads
301,121
301,121
301,995
303,762
and preferred, $2,284, but these items are included in the amounts given
1,002,350 1,094,750
1,213,250 1,320,667
Interest on debt
on other side of the account.
Dividends
2,937,186 2,937,186
2,937,186 2,937,186
X Including $10,007,416 common and $2,284 preferred stock in com
Rate per cent
7
7
7
7
pany’s treasury.
Add’n and imp. acc’t.
1,200,000
750,000
463,000
II Including live bonds in sinking funds, which amounted May 31,1887, Miscellaneous
177,784
196,344
164.784 ,
170,922
to $1,116,500.
5.618,441 5,279,401
5,080,215 4,731,537
Total disbursements.
IT See remarks in Chronicle regarding these items, p. 177.
67,240
311,703
89,071
97,186
—(V. 43, p. 49, 117, 130, 399; V. 44, p. 343, 621, 713; V. 45, p. 52, Balance, surplus....
159, 177, 340, 575.)
-(V. 43, p. 308, 766; V. 44, p. 60, 91, 308, 335, 495. 526, 712, 713,
Chicago & Ohio River.—Line of road from Sidells, Ill., to Olney, 731, 752; v. 45, p. 55, 166, 342, 400, 438, 472, 512, 613.)
86 miles. This Co. was organized in 1886 as successor or the Danville
Chicago Sc St. Louis.—Chicago to Pekin, Ill , 150 miles, and branch
Olney A Ohio River, foreclosed in Feb. 1886. An extension to the 2 miles. This is the title of the company organized in March, 1885, as
Ohio River is projected. Income bonds are convertible into stock for successor of the Chicago St. Louis A Western, which had been formed
live years from May 1, 1386. Gross earnings in 1885-86, $61,767 ; net, in Jan., 1884, as successor of the Chicago Pekin A Southwestern. Stock,
$8,133. In 1886-87, gross, $75,377; net over operating expenses and $3,000,000. Reported in 1887 to he going into Atchison’s Chicago line.
fixed charges, $1,639. Austin Corbin, President, New York City.-(V. Gross earnings in 1885, $292,798; net, $91,633; interest on bonds,
44, p. 21, 289, 308.)
$90,000. (V. 43, p. 773 ; V. 45, p. 672.)
Chicago Rock Island Sc Pacific.—Line of Road.—Owns from
Chicago St. Louis Sc Pittsburg.—The mileage is as follows :
Chicago to Council Bluffs, 500 miles; Davenport. Ia., to Atchison, Kan., Columbus, O., to Indianapolis, Ind., 187 miles; branches—Bradford June.,
B45; Atchison Junction to Leavenworth, Kan., 21-5; Washington, la., to 0.,to Chicago, Ill., 231 in.; Richmond, Ind., to Anoka June., Ind., 102 m.;
Knoxville, 77*5 'v South Englewood to South Chicago, 7*5;-Wilton to Logansport, Ind., to Illinois State Line, 61 m.; Indianapolis to Kokomo
Muscatine, 12-5; Newton to Munroe, 17; Des Moines to Indianola and (operated jointlv with Wab. St. L. A Pac.) 54 in.; total operated, 635 m.
Winterset, 47; Menlo to Guthrie Centre, 14-5; Atlantic to Audubon,
This is the reorganization (March 20, 1883,) of the Columbus Chicago
24*5; Atlantic to Griswold. 14-7; Avoca to Harlan, 11*8; Avoca to Car- A Indiana Central road, sold in foreclosure on Jan. 10, 1883.
The
son, 176; Mt. Zion to Keosauqua, 4-5 ; Wilton to Lime Kilns, 5. Leased:
C. C. A I. C. company was formed Feb. 12, 1868, by consolidation of
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles; the Col. A Ind. Ceil, and Chic. A Great East, railroad companies. After
Keokuk to Des Moines, 162. Total operated, April 1, 1887, 1,384 miles. default in 1875 and much litigation, a plan of settlement with the
The new mileage built and under construction was mentioned in V. 45, Penna. RR. was approved by a majority of bondholders in 1882 and
p. 613.
carried out. There was held by the Peima. RR. and the Penn. Co. a large
Organization—The Chicago A Rock Island RR. was chartered in amount of the 1st consol, mortgage and the stocks. The preferred
Illinois Feb. 7, 1851, and opened from Chicago to the Mississippi River stock is entitled to 6 per cent yearly if earned, and Is cumulative.
From Jan. 1 to Sept, 30,1887 (9 months), gross earuings were $4,220,July, 1854. The extension from the Miss, to the Mo. River was built
by the former Mississippi A Missouri RR. of Iowa, which was foreclosed 267,against $3,471,052 in 1886; net, $1,105,712, against $535,102.
under mortgage in 1866. The Illinois and Iowa roads were consolidated
The annual report of this company for the year 1886 was pub¬
August 22,1866, under the present title, and the main line was extended lished in the Chronicle, V. 44, p. 369, to which reference should be made.
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern
INCOME ACCOUNT.

1883-84.
$

1884-85
$

was

1885-86.
$

1886-87.

formerly the Chicago A

..

*




..

^

Southwestern, and was

chased by this company, and consolidated June,
Chic. R. I. A Pacific was a consolidation Juno 4, 1880, with
stock authorized, and a scrip dividend of 100 per cent to
Chic. R. I. A P. stock. The aunual election occurs in June.

great favor by

Subscribers will confer a

DESCRIPTION.

Chicago St. Louis <&

Date Size, or
of
par
of
Road. Bonds Value.

Miles

explanation of column headings,
on first page of tables.

Ac., see notes

rnortg

Chicago <£ St. Louis—1st

Piltsb.—Common stock

Preferred stock (6 per cent cumulative)
1st mortgage, cons'll, gold ($22,000,000)
.1st M. Chic. A G’t East. (Chic, to Logansport)
Col. A Indianapolis Central.
do
do
Union A Logansp’t (U’n City to Logansp’t)
Cinn. A Cliic. Air Line(Richm’d to Logans.)
do

2d M. Col. A Indianapolis Central
Chic. St. P. cC- Kan. City-1 et, g’ld, $20,000 p.
Chic. St. Paul Min’polis <& Omaha—Common

*

c*
stock..
m

150
635
635
580
117
208
93
107
208
142

A Lake Sh.,

Gen’l M. ($12,000 p.

mile)

Cincinnati Hamilton <&
Preferred stock

7s) sink,

Consol, mort. ($996,000 are

12

Mortgage bonds,

....

....

....

413
127
36
413
354
354
60

c*

gold

.

.

.

98
411
95
151

....

1875
1887
1873

1858
1867

Whom.

6

M. A S.

New York.

5 g.
7
7
7
7
7

A. A O. N. Y., Union Trust Co.
do
do
Various
do
do
J. A J.
do
do
A. A O.
do
do
F. A A.
do
do
M. A N.
J. A J. N.Y., R, T. Wilson A Co

o

334,800

....

125.000

6 g.
7
8
7
6 g.
6 g.
1
8
8
5
2

75,000

...

2,445,000
6,396.6 36

1,000
1,000

6,150,200

1,000

480,000

1,000

576,000
2,794,000

1,000
100
100

4,000,000

1,000

2,70i),000
2,000,000
1,800,000
10,000,000
1,151.000

500 Ac.

J.
M.

A
A
A
A
A
A
A
A
A

1883.
635

Miles of r’d operated

Operations—

FISCAL RESULTS.
1884.
635

1,228,701

$

Earnings—
Passenger

$

1,036,077
3,159,887

1,163,407
3,781,107
349,406

Total gross earns
Op expa. and taxes.

5,293,920
4,335,964

3,602,213

3,807,645

4,812,31'!
3,966,300

$957,956

$794,627

$759,951

$876,016

81*93

83 36

81*91

earnings
P.c.of op.ex. to earns.

Net

81*90

4.567,596

Interest
Other receipts

1883.

18S4.

1885.

$957,956
26,720

$79 1,627
1,972
78,073

$759,951

297

Total income....
Disbu rsem e ? i ts—
Rentals paid

$984,973

$874,672

Oet. 1, 1932
1893 &’95

Nov., 1904
Dee.. 1905

Aug. 1, 1890
Nov., 1904

July 1,1936
July 20,1887
June 1.

1930

May 1,
Jan. 1,
April 1,
Jan. 1,
July 1,
Jan. 1,

1918
1930

1919
1908
1908
1909

do
do
do
do
Treasurer’s Office.
do
do
do
do

6.

A, A
J. A J.

A J.

J.

7

Q—M.

lx4

A. A O. N. Y., D
do
F. A A.

7
7

May 1, 1887
April 1., 1887

Y., WinslowL. A Co.

N.

Q.—F.

Oct.. 1905
Jan. 1, 1937
Jan., 1903

5ept. 15, 1887
Oct., 1888

exel, M. A Co.

Feb.. 1897

do

RESULTS.

$759,951

•

operated

Freight
Oper’g exp. A txs.
Net earnings.
P.c. of op. ex. to earn.

$21,221

221,690

253.897

5,8L4,810

6,153,207

3,721,151

3,848,575

'2.093,659
63*99 r

*2,304,692

1885.
$

1886.

3.623,827

4.007,022

1,891,457

1,777,909
69*26

65*70

1884.

Receipts—

153.623

651,125
212,221

2,641,255

Total income....

2,592,857

$
35,564
1,222,371

Tot. disbursem’ts
Balance surplus

2,040,767

1,320,146

675,408
(6)

787,976
(7)
13,065

12,356

2,170,361
470,894

552,090

184, 263, 493;

62*54

$

2,304,692
741,065
73,959

3,119,710
$

117,009
1,337,956
675,108

12,524

$?624

*2,035,238

2,139,t»a7
979,719

763,651
V. 45, p.

492.)

Indiana.—Owns from Dolton and Ham¬

Western

Sc

$
62,982
1,334,324

49 H 74

770,476
(7)

V. 44, p.

2,093,659
721,995
33,235
2,848,389 *

1,777,909

547,777

Dish ursem ents—
Rentals paid
Interest on debt
Div. on pref. stock..
Rate of dividend ....
Loss on prop, roads.

Chicago

^$

$
1,891.457

Net earnings
Net from land grants
Other receipts

$876,015
1,074,121

1,413,218
4.466,734
273,315

INCOME ACCOUNT

1886.

$21,224

1886.

1,365
$

5,78 4,931

1883.

$876,015

1,079,241

4,132,530

5,51^,284

earnings

Tot. gross

1,318
$
1,430,711

200,778

Mail, express, Ao....

1885.

1,310
$
1,305,515
4,255,398

18S4.

1,280
$
1,470,558
3,843,948

Earnings—
Passenger

-

INCOME ACCOUNT.

Receipts—
Net earnings

,632

37

Miles

1,036,165
3,418,447
357,70 t

Freight
Mall, express, Ao....

4,396,840

1, 1915

'

1,186,779

$
1,134,689
2,902,433
359,718

Mar.

•

1883.

18^6.
635

1885.
635

1,035.448
1,061,091 44,970,677
48,146,452 48,891.744 46,840,896
2-30 cts
2*42 cts.
2 32 cts.
2 21 cts.
Rate « pass. $ mile
3,075,385
2,782,033
2,517,062 3,031,595 587,723,362
Fr’ght (tons) carried
Fr’ght (t’ns) mileage 526,622,269 484,716,894 612,653,872
0 59 cts.
Ave. rate $ ton $ m.
0-72 cts.
0-60 cts.
0’52 cts.
$

Passengers carried..
Passenger mileage

Dividend.

New York, Otfico
do
do
- do
do
do
do
do
do
do
do
do
do
do
do

J.
D.
N.
J.
0.
J.
J.
J.

FISCAL

OPERATIONS AND

pal,When P e.
Stocks—Last

N. N. Y., Drexel, M. A Co. Nov. 1, 1919
Dee. 1, 1932
do
do
Q. - M.
Boston.
Aug. 15, 1887
F. A A.
Sent. 1889
M. A 8. Bost.. Treasurers office.
July 1, 1891
N. Y. Union Trust Co.
J. A J.
Deo. 1, 1921
J. A D.

5, 6,7
4$3g.

461,000

1,000

J.
J.

1

(?)

i,uoo
1,000

J.
M.
J.
A.

6

800,000

6,080,000

....

J.

6 g.

3,000,000

1,000
1,000

g.

3
6

11,259,933

12,250,292

1,000
500 Ac.

100

....

Pay’ble

18,559,626

....

....

1869
1871
1881

....

(Junction) RR., 1st mort., guar
Cincinnati Indianan. St. Louis <t Chicago—Stock..
Ind. A Cin. of 1858, 1st mort
Indianapolis Cin. A Laf. mortgage
Cin. Ham. A I.

.

1880
1878
1880
1879
1878
1878
1879
1879
1882

Cent.

2,800, 00

100
100

....

When

780,000

....

1,000

1886

23

fund 1 p. c

....

1864

177
120
605

Dayton—Stock

....

....

Payable and by

Where

Rate per

17.479,850
13,442,000
223,000
2,631,000
715,000
108,500

1,000

1865

INTEREST OR DIVIDENDS.

8,022,441

....

....

1864

[VOL. XLV.

of any error discovered In tbese Tables.
Bonds—Prur i

$1,500,000

1,000

1883

....

1st mort. coup

Outstanding

100
100

1,365

Minneapolis East RR., 1st mort., guaranteed
Chicago<C West. Indiana— 1st mort (sinking fund).
General mortgage, gold, sinking fund
Chicago <£ West Michigan—Stock, new
1st mortgage, New Buff, to St. Jo

Amount

$1,000

1885

1,365

Preferred stock
Consol, mortgage ($15,000 per mile)
Chic. St. Paul A Minn., 1st mort., gold, coup
North Wisconsin, 1st mortgage
St. P. A Sioux City, mort., gold, for $7,000,000
St. Paul Stillwater A Tavlors’ Falls, 1st mort
Hudson A River Falls. 1st mort

Gr. Rap. Newaygo

giving immediate notice

'

For

SUPPLEMENT.

INVESTORS’

36

with a belt railroad and branches, with ware
Interest on debt..
houses, elevator, Ac., 48 miles of roads and 132 miles of track in all
Net C. C. A I. C. for
including 2d, 3d, 4th and siding track (of which 51 miles wore leased to
120,633
3 mos
95.789 the Belt R’y of Chicago), and about 100 acres of real estate. This
17,565
Miscellaneous
company leases its road for right of way into Chicago ami
facilities therein to the Wabash, the Gr. Trunk of Canada, the Chicago
$1,191,134
$1,118,030
$7; 9,914
$1,100,826
Total disb’rsm’ts
A East. Illinois, the Chic. & Ati. and Louisv. New Albany & Chicago
Balance
sur.$185,059def.$226,154 def.$353,079 def $315,119 roads; the annual rentals stipulated exceed the interest cliarg econsiderably. The stock is $5,000,000 and bonds are limited to $10,500,000;
52 5. 526, 653; V. 45, p 25, 239, 400, 538.)
$15,918

$21,224

663,363

1,079,602

mond, HU to Chicago,

terminal

-(V. 44, p. 369,

433,

Map of Minn. & Northbranches, Valeria
total, 142 miles;
under construction, Des Moines to St. Joseph, 155 mi’os ; atOelwoin,
oounects with the Minn. A Northwestern, and has a tratliccontract with
la. A Nebr. RR. was purchased in July, 1886, for $20,000
it. The Wis
per mile in bonds and $25,000 per mile in stock. Bonds are $ or £ (4s
lLjd=$l 00) and are authorized to the amnuut of $16,000,000 at the
rate of $20,000 per mile on road and $5,000 per mile for terrain
als in cities and for equipment; also, $8,000 per mile additional for
double track. They are redeemable at 105 and accrued interest. Trus¬
tees of mortgage are the Metro; olitan Trust Co., of New York, and
Robert H. Benson, of London. Capital stock ($25,000 per mile), $3,
500,000. Cross earnings for six months from July 1,1886, on 115 miles
were $138,965; net, $42,523; payment from old company, $25,000
surplus over interest charge , $10,023. R. T. Wilson, New York, Presi
Chicago St. Paul <fc Kansan City.—{See
western.)— Des Moines, la., to Oelwoin, la., 132 miles;
to coal mines and Wilsons to Cedar Falls, 10 miles;

.

dent.—(V. 43, p. 72; V.

44, 627; V. 45, p.

642.)

Omaha.—(See map Chicago
St. Paul, 196 miles;
South Stillwater
Branch, 14 miles;
Northern DivisionNorth Wisconsin Junction to Bayfield, 178 miles; Ashland Junction to
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Junotiou, 81 miles; Superior Junction to Duluth, 73 miles; total,
338 miles.
St. Paul A Sioux City Division—St. Paul to Sioux City, 269
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
to Salem, 98 miles; Luverne to Doon, 28 miles; total, 521 miles.
Nebraska Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca,
16 miles; Missouri River transfer, 2 miles; Norfolk Branch to Emerson,
46 miles; Wakefield to Ilartington, 34 miles; Wayac to Randolph, 22
miles; total, 245 miles. Total owned, 1,360 miles. Proprietary road, 5
miles. Total of all, 1,365 miles. This was a consolidation July, 1880, ol
the Chicago St. Paul & Minneapolis (formerly West Wisconsin), the North
Wisconsin, and the St. Paul A Sioux City.
Preferred stock has a prior right to non-cnmulative dividend of 7 pci
cent from net earnings; but common is never to receive more than G
paid on preferred. The Chic. St. Paul & Minneapolis 1st mort. is a 2d
the lands; the land mort. a 2d on road; but no foreclosure can be

Chicago St. Paul Minneapolis Sc
Northwestern.) Mileage: Eastern Div.—Elroy to
River Falls Branch, 25 miles; Stillwater Branch, 4 miles;
Branch 4 miles; Eau Claire Branch, 3 miles; Neillsville
St. Paul to Minneapolis, 10 miles; total, 256 miles.
A

on

had except by default on 1st mortgage.
In November, 1882, a controlling
for the Chicago & Northwestern
shares of common at an average price

interest in the stock was purchase !
Railway by the acquisition of 93,200
of 48‘40, and 53.800 shares of

preferred at an average

of 104*04—the total cost

being $10,503,959.
The land sales in
undisposed'of,

held as an asset of the Chic. A Northwestern Company.
Report for 1886 was in Chronicle, V. 44, p. 493.
1886 were 194,665 acres for $1,562,803, including lots; land contracts
and notes on hand Dec. 31, 1886, $3,093,892: lauds
647,197 acres. Earnings, Ac., were as follows;

wliicb stock is




redeemed at any time at 105 by a sinking
provided for by increased rentals to bo paid for that
purpose. See annual report V. 44, p. 780.
In 1886 revenue from
rentals, etc., was $700,928 ; interest,etc , $5 hi,784 ; surplus, $166,144.
-(V. 13, p. 22; V. 14, p. 751, 780.)
liable to be

the bonds are

fund, which is

Mlclilgau.—Owns from Lacrosse, Indiana, to
branches—Holland Junction to Allegan,
Cloud, 70 miles; Fruitport to Muskegon,
Piekaud’s Junction, 3 miles; Muskegon
Woodville to Muskegon River, 17 miles;
Junction to Big Rapids, 51 miles; White
miles; total operated, 413 miles. In
Coal RR., about 18 miles—La Cnsse to
^Organized as successors of Chicago A Mich. Lake Shore Jan. 1,1879, and
consolidated in Sept., 1881, with the Grand Haven road, 57 miles,
Muskegon to Allegan, and the Grand Rapids Newaygo & Lake Shore, 46
....
miles, from Grand Rapids to White Cloud.
. _
There are abo $24,000 ou’standing of Grand Rapids Newaygo A L.
Chicago SC

West

Pentwater, Mich., 209 miles;
23 miles; Holland to White
10 miles; Kirk’s Jimction to
to Port Sherman, G miles;
Mears to Hart, 3 miles; B. R.
River Junction to Baldwin, 20
1887 leased to Cliicag> & Ind.

S. 2d Div.

bonds.

Earnings, Ac.,

have been as

$

1880.

$

..1,550,098
364,874
7,559

468,977
2,217

348,788
4,072

370,482
9,261

372,433

471,194

352,860

379,743

222,085
215,257

$
224,030
123,004

225,024

437,342

347,084

378,779

..

$

$
..

..

—

1885.

$

1,39^,979

Disbursements—

-

1884.

$

1,297,301

..

Total
Balance

1883.

1,469,667

Receipts—
Net earnings..
Other receipts

follows:

disbursements...

..

217,024
184,506
401.530

def. 29,097

(V. 44, p. 525.)
Cincinnati Hamilton

snr.33,852 sur. 5,776

$

153,755
964

Dayton.—Owns from Cincinnati, O.,
Deshler, 9 miles; leased—Dayton
miles; Cincinnati Hamilton &
Indianapolis, Hamilton to Indianapolis, 99 miles; Cincinnati Richmoral A Chicago, Hamilton, O., to Indiana State line (and leased road),
44 miles; total operated, 351 miles; each lease reported separately.
In 1887 authority to issue $10,000,000 pref. stock was voted m June;
in Jan., 1887, the stockholders voted to issue $2,000,000 bonds and
$500,000 common stootr.
The bonds issued in 1887 are a second lien on the main line, 60 mi es,
and also cover the road from MoComb to Deshler, 9 miles, the
leases of the Dayton A Michigan and Cincinnati Richmond A Chicago
roads, ami $1,346,653 of debt claimed to be due from the Cincinnati

to Dayton, O.,
& Michigan,

&

60 miles and Me Comb to
Dayton to Toledo, 142

'

Hamilton A Ind.

RR. Co.

NOVSMBKR,




188?.]

RAILROAD STOCKS

AND BONDS.

37

INVESTORS’

38
Subscribers will coaler

a

explanation of column headings, Ac., see notes
on first page of tables.

Consol,

20
20
All.
175
56
263

2d M., guar., and funded coupons

gold sink, fund (for $10,000,000).c—r

mort

Cincinnati Lafayette A Chicago, 1st mort., gold ..
Cinn. Jackson dk. Mackinaw—1st, consol, m., g
c*
Cincinnati Van Wert A Mich., 1st mort
do
2d
do
M., inc., payable at option.
Cincinnati Lebanon dk North.— 1st m. (for $200,000)
Cincinnati dk Muskingum Valley—1st mortgage
Cincinnati JSew Orleans dk Texas Pacific— Stock
Cin. Richmond dk Chic.—1st mort., guar. C. H. AD..
Cin. Richmond dk Ft. IT.—1st mort., gold, guar
Cincinnati Sandusky dk. Cleveland—Stock
Preferred stock
1st mort, Saud. Dayt. A Cin. (redeemable at 100)
2d mortg. Cine.. Sandusky A Cleve
Cincinnati dk Springfield—let mortgage, guar
2d mortgage
OincinnatiW abash dk Michigan—Stock ($3,000,000)
Cincinnati Washington dk Ralt-Commou stock
Preferred stock.."
1st mort. gold (the 4*28 are guar, by B. AO)
2d mortgage, gold
Prior lien, gold
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., noil-cumulative, gold
2d income mort., non-cumulative
Baltimore Short Line mortgage
Cincinnati A Baltimore mortgage
Scioto A Hocking Valley mortgage

1862
1867
1886
1880
1871
1886
1881

37
148
336
36
91
190
190

1886
1870

1866
1867
1871
1872

....

48
48
165
281
281

1,000
1,000
100 Ac

1883
1883
1883
1883
1883
1883
1869

....

....

.

D. & M. dividends
Miscellaneous

132,015
6,185

Total

$2,968,227

50
50

428,850

538,000
1,1U0,000
2,000,000

....

....

1,000
1,000

651,000

gg.

g.

A D. N. Y., Drexel, M. A Co.
do
A J
do
Q.—F. N. Y., Central Trust Co.
M. A N. N. Y., Drexel, M. A Co.
M. A S.
do
do
J. A D. N.Y., Central Trust Co.
J. A J.
J.
J.

A J.
A J.

1852

1884-85.

1885-86.

$2,856,559
$1,813,899
'

3,033,000

g.

236,940

490,718
132,020

10.650

$2,673,577

5 g.

500.000

4*2g.

2,237,000
3,214,000
4,000.000
750,000
500,000
300,000

....

-

Owns from Cin. to Lafayette., Ind.. 174 miles; Lawrenceburg branch,
3 miles; Harrison branch. 7 miles; Fairland F. A M. Road, 38 miles;
and Cincinnati Lafayette A Chicago (leased), 76 miles; Vernon Green.
& Rush,, 44 miles; Kankakee & Seneca (one-half owned), 43 miles; Col.

Hope & Green., 26 miles; total operated, 411 miles.
This company was formerly the Indianapolis Cin. A Laf., which road
was sold in foreclosuie Feb. 2, 1880, ami this company organized.
The new 4 per cent mortgage for $10,000,000 (Central Trust Co. aud
Hervey Bates, trustees) will retire all other bonds as they fall due, and
leave a surplus of $1,000,000 for other purposes as needed. The sinking
fund for these bonds is 1 per cent yearly of the amount of outstanding
bonds; payments lapse when bonds cannot be purchased at 102*2 and
interest. In March, 1887, stockholder of recordon the 18th of that
month had the privilege of subscribing to $3,000,000 new stock at 65.
(V. 44, p. 275.)
From July 1 to Sept. 30 (3 mos.) in 1887 gross earnings were $707,105, against $695,636 in 1885-6; net, $285,867, against $283,193.
Fiscal year ends Juno 30; report for 1886-7 was in V. 45, p. 436, 438.
ACCOUNT.

1883-84.

1884-85.

1885-86.

1886-87.

$

$

$
2,526,934

986,872

$
2,752,892
1,052,296

624,234
210,000
(3 p. c.)
18,844

332,500
(4% p. c.)
15,582

2,498,539

earnings

Net earnings
Disbursements—
Interest on bouds....
Dividends
Rate of dividends.
Miscellaneous

903,190

2,595,859
935,678

626,233

624,482

..

5,254

29,045

643,267

Total disbureem’ts.
653,527
631,487
853,078
1,091,349
271,703
Balance, surplus
282,151
133,794
60,947
—(V. 43, p. 22, 73, 190, 368, 430, 431, 458, 515, 607; V. 44, p. 59, 90,
244, 275, 343, 494, 808; V. 45, p. 112, 271, 436, 437, 438, 509, 672.)
Cincinnati Jackson

Sc

Mackinaw.—(See Map.)—Owns from

Carlisle, O., north to Cecil, O., 127 miles; Allegan to Dundee, Mich., 133
miles; Cecil to Bryan, in Ohio. 19 miles; Dundee, Mich., to Toledo, O.,
23 miles; total operated Sept.. 30, 1887, 302 miles; aud has under con¬
struction from Bryan to Jackson, Mich., 61 miles; and small pioces. 7
miles. This Co. was formed Feb. 12, 1886, by consolidation of the Cin¬
cinnati Van Wert & Mich., RR., and the Jackson A Ohio RR., and in
18S7 put chased the Mich. A Ohio sold in foreclosure.
The bonds are issued at $10,060 per mile, covering also equipment
-vyhicli cost about $1,000,000, thus reducing the lieu on the road to near
$7,000 per mile. The authorized issue of 1st consol, bonds is $6,000,000; pref. stock 6 p. c.. non-cumulative, $7,350,000, and common stock,
$13,500,000, of which $10,850,765 common and $6,228,000 pref., were
outstanding Sept. 30, 1887. Of the 1st consol, mort, $1,200,000 will be

used to retire the

same

amount of Ciu. Van

Wert A Mich. 1st mort.

bonds, duo 1901, which are a tirst lien on 81*a miles (called the Central
Division) between Cecil, O., aud Greenville. O. See abstract of mort¬
gage (Central Trust Co. of New York, trustee) Vol. 45, p. 574.
A syndicate formed to build from Cecil, O., to Jackson, Mich., 83 miles,
receives for every $10,000 cash subscribed $8,000 in 1st mort. bonds,
$10,000 in pref. stock and $20,000 in common stock.

*^In

year ending Sept. 30, 1887, gross earnings ou average of 205
miles, $362,273; net over rentals and taxes, $122,590; surplus over
interest, $42,508; addrecehed from local aid, $23,892; total surplus,
$66,490. J. M. C. Marble, President, Van Wert, O.; George R. Shel¬
don, Vice-President, N. Y. City.-(V. 44, p. 808, 812; V. 45, p. 571, 574.)




Cinn., 4th Nat’l Bank.
Jan.,’86, cp. pd.Nov.,’86

Deo., 1892
'

Jan., 1892

Aug. 1, 1936
May 1, 1920
Mck., 1901
Dec. 1, 1936
.Tan. 1.

1901

1930
1906

Jam, 1901
5, 1893
July, 1895
June, 1921
May 1, 1884
Feb.

7^676^000 4*2gA 6g

1,000
1,000
1,000

"Cincinnati Indianapolis St. Louis & Chicago.—(See Map.) —

Gross

Dividend.

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

A
A
A
A
A
A
A
A

J. N.Y., Winslow, L. A Co.
D. N.YV, Winslow, L. A Co.
N.
Boston, Office.
do
do
N.
A. Boston, Nat. Revere Bk.
D.
Boston, Office.
N. Y., U. S. Trust Co.
O.
do
do
J.

Nov.

1, 1887

Aug. 1, 1900
Dec. 1, 1890
April 1, 1901
1902

5^811,100

1,000

Net surplus
$74,232
$141,789
$182,982
—(V.43,p. 131, 334, 487, 671, 718; V. 44, p. 59, 90, 148, 211,439, 526,
713.751.807; V. 45, p. 53, 210, 239, 333, 369, 437,472, 572,613, 672.)

INCOME

and by Stocks—Last

J.
J.

3-4
5
5
7
7
7

M.
J.
A.
F.

AN. N.Y.,Farm’s’ L.ATr. Co.
do
do
A J.
A O.
do
do
do
do
A A.
do
do
do
do
do do
J. A D.
J. A J. Cin., C. W. A B. Office.
M. A N. N.Y., Farm.Ln.A Tr.Co.

Nov. 1,
Nov. 1,

April 1,
Nov. 1,
Nov. 1,
Nov. 1,
Deo.

Jan.

1,
1,

May 1,

1931
1931
1893
1931
1931
1931
1904
1900
1896

Cincinnati Lebanon Sc Northern.—Ciucinnati, 0.,to Dodds, O.,
36 miles; branches, 2 miles; total, 38 miles. This Co. was formed, in
1885, as successor of the Cinn. Northern, sold in foreclosure. Stock is
$1,000,000. Gross earnings for 17 months to Dec. 31, 1886, $176,691:
uct, $45,969.—(V. 44, p. 243 )
Cincinnati New Orleans Sc Texas Pacific. * (See Map).—This is,
the company organized under the laws of Ohio Oct. 8, 1881, to operate
the Ciucinnati Southern, and 51 per ceut ofthestock is held by the
Eng¬
lish company, the Alabama New Orleans 5c Texas Pacific Junction
Co.,
Limited. The Cincinnati Southern road extends from Cincinnati to

Chattanooga, Tenn., 336 miles. The Ala. N. O. A T. P. also controls the

Vicks. A Mer., 142 miles; Vicks. Shrev. & Pac., 189 miles; N. O. A No.
East., 196 miles; and Spanish Fort RR., 13 miles. .See title in this
Supplement. The rental due the Cincinnati Southern is $812,000 per
year till 1886, then $912,000 till 1891, $1,012,000 till 1896, $1,102,000
till 1901, aud $1,262,000 till 1906. The annual report for 1886 in V.
44, p. 243, gave the following income account for three years :
1884.

Total earnings
Wot king expenses

$2,658,184
and taxes... 1,836,974

Net earnings for the year...
Rental

Surplus revenue
(V. 43, p. 125, 210, 774; V. 44,

—

'

Whom.

Payable

Bonds—Princi¬
pal,When Due.

12,893,200

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

$2,865,933
$1,841,271

$2,724,144

3,000,000
560,000
1.800,000
4,003,330

1,000
1,000

treasury had been used largely for loans, and preferred stock to an un¬
known amount had been issued and pledged by Ives & Co. The assets
of Ives & Co. were given in V. 45, p. :-33, showing .$4,689,600 of pre¬
ferred Cinn. Ilam. A Dayton stock and $4,665,904 of common. The
stock of the Day. A Mich, was sold to David Sintou and Thos. J. Emery.
From April 1 to Sept. 30 in 1887 (6 mos.) gross earnings were $1,712,536 against $1,508,035; net, $754,593, against $608,586; surplus
over interest and pr< f. stock dividends, $235,248, against $166,880.
No report for 1886-7 lias been issued.
Income account in the fiscal
years ending March 31 was as follow-, including all the roads operated :

236,940
503,266
132,017

100,000
1,500.000

100

per cent bonds; also to authorize the $10,000,000 pref. stock (see V. 44,
p. 808). The failure of II. S. Ives A Co., in August, 1887, placed the
affairs of this company in a complicated situation. The securities in its

1883-84.

5,019,000
857,000
948,000
1,588,000
1,200,000

i,26oa' 66

1,000
1,000

In June, 1887, a controlling interest in the stock of the Terre Haute &
was purchased; the stockholders voted to constructor
lease a line from Hamilton to Middletown, O., and issue $500,000 of 4*2

$3,042,461
receipts
Operating expenses and taxes.. $2,083,705
C. H. A D. div., com. and pref..
236,485
Interest
509,840

7
7
4
6
7
5
6
6
5
7
3
7
7
2
3
6
7
7
7

Where Payable,

When

2,043,100

....

..

1,000

100
100

....

.

Rate per
Cent.

$317,000
864,750

1000 Ac

....

....

Outstanding

1,000

....

1866
1871

Amount

$1,000

IndiaLapolis RK.

Gross

INTEREST OR DIVIDENDS.

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

Cinn. Indianap. St. Louis dk Chicago— (GonVd)—
Cin. A Ind., 1st mortgage.
do
v
Gen. 1st M.

[Vol XLV,

great favor by glviag immediate notice of any error discovered In tliese Tables.

DESCRIPTION.

For

SUPPLEMENT,

Cincinnati Richmond Sc
to Indiana State

$821,210
812,000

p.

$9,210
21.)

1885.

1886.

$2,681,546
1,710,535

$2,882,172

$971,011

$1,018,593

1,833,579

812,000

834.043

$159,011

$214,549

Chicago.—Owns from Hamilton, 0.t

Line, 37 miles; leased, Richmond, Ind., to Ohio Slate
Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866, aud
leased in perpetuity from Feb., 1869, to Cinn. Ham. & Dayton Co., this
Co. to receive all surplus after expenses and bond interest.
A 2d mort.
of $65,000 due 1889 is owned by C. H. A D. Capital stock, $382,600.
Cincinnati Richmond Sc Fort Wayne.—Owns from Rich
inond, Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years
to Grand Rapids & Indiana, the
rental being net earnings; in¬

terest is guaranteed by the lessees and by the Pennsylvania Company
aud Cincinnati Hamilton & Dayton Company, jointly. Gross earnings
In 1885, $383,585; net, $103,546; loss to guarantors, $68,116. Gross
in 1886, $225,690; loss to guarantors, $50,873. Capital stock, $1,709,192. Total advances by guarantors, $938,466.

Ciucinnati Sandusky Sc Cleveland.—Owns from Sandusky,
Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles;
leased, Columbus Springfield A Cincinnati, 44 miles; total operated, 214
miles, less the division between Springfield A Dayton, 24 miles, which Is
leased to the Clev. Col. Cinn. A Indianapolis. The preferred stosk
has a lieu by deposit of old bonds in trust.
There are also outstanding
$350,000 Sandusky City A Cleveland 1st mortgage bonds due June,
1887. In Arpil, 1881, a lease was made to the Indiana Bloom. A West¬
ern, but litigation ensued, aud the 1. B. A W. was sold in foreclosure.
The two companies are to be consolidated.
(V. 43, p. 49, 244, 309, 398,
458 ; V. 44, p. 90; V. 45, p, 613.)
Cincinnati Sc Springfield.—Operates from Cincinnati, Ohio, to
5 pringfield, Ohio, 80 miles, of which 32 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
6 Ind. Co., giving them a line into Cincinnati, and de pot accommoda*
tion. Lessees apply any excess over rentals to C. A S. stock.
Interest
is guaranteed on the tirst mortgage, one-half by the lessees and one-half
by L. Shore A Mich. Southern. Stock is $1,100,000. To January. 1887,
tne C. C. C. A I, had advanced $2,854,315.
Gross in 1885, $886,104;
net, $193,562 ; rentals, $167,322 ; inteiest, $185,570 ; other pa,\ ments,
$15,500; total, $366;,3i)2; deficit, $174,829
Gross earnings ill 1886,
$1,130,324; net, $116,001.
Cincinnati Wabash Sc Michigan Railway.—Owns from
Benton Harbor, Mich., to Anderson, Ind., 165 miles. Sold Nov. 5, 1879;
for account of bondholders.
New company organized April, 1880,
Total stock authorized, $3,000,000. Gross earnings for 1886, $389,139;
net, $98,404. Gross in 1885, $321,790; net, $58,655. J. H. Wade,
President, Cleveland, Ohio.—(V. 45, p. 341, 538.)
Cincinnati Washington Sc Baltimore.—(See Map of Balt, <M
Ohio.)—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
Belpre, 11 miles; Portsmouth to Ilamdeu, 55 m.; Blauchester to Millsboro, 22 m.; total, 281 m.
The Marietta A Cincinnati Co. was sold in foreclosure Dec. 9, 1882,
and re-organization was made Feb. 7, 1883, under this name.
Prior lien bonds-were issued for receiver’s certificates.

mortgage bonds, $1,250,000

Of the first

issued for the Ciucimiati A Baltimore
RR. stock, and bear 6 per cent, the balance bear 4*2 per cent and are
guaranteed by the Balt. A Ohio RR. Co. The income bondholders have
voting power. The annual report for 1886 had the following:
1885.
1886.
Earnings from—
1884.
Passengers
$533,797
$536,198
$461,412
Freight
1,079,861
1,019,277
1,242,693
Mail, express, Ac
233,916
238,249
224,581
were

,

Total earnings
Operating expenses and. taxes
Net earnings

$2,010,406

$1,854,308
1,408,371

$1,705,270
1,464,83.)

1,462,943

$445,937

$240,440

$547,463

November,




1887. J

RAILROAD

STOCKS AND

3»

BONDS.

MAP OP THE

CINCINNATI, JACKSON
AND

MACKINAW R. R.
AND ITS

CONNECTIONS.

RoanoKc*




INYESTOK’

SUPLEMNT.

November,

Snbscrlbers will confer a great favor

by giving Immediate notice of any error
Miles

explanation of column headings, &c., see note
on first page of tables.

144
144

4tli mortgage

m

Series “B”..

13
323
250
164
164

Oolebrookdale—1st mortgage
Colorado Central—1st mortgage, new
Colorado Midland—1st m., gold ($25,000 p. mile)c*
Columbia <£• Gt'cenville—Nevt mort.,g’ld,coup, or reg

40
71

c'

328
324
327

Valley <£ Toledo—Stock..

Consol, mortgage, gold (for $14,500,000)
Gen. M., g., on road <fc Hocking Coal & RR.

m

35
99
200
199
199

(now 1st)

Columbus Hocking

»

•

stock

2d mort gage
Columbia & Port Deposit—1st mortgage
Columbus
Ctnn. Midland—tat M., coupon

Par

Co...c

....

ioo
1864
1869
1874
1884
1878

1,000
1,000
1,000
1,000
m

m

1

$445,937

Total disbursements
Balance, deficit
_(V. 43, p. 308, 398; V. 44. p.

$720,667

$892,072
28,594

.

•

•

•

50
500

1,000
100

11,696,300

1,000
1,000
1,000
lOOAie.

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

1831
1884

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

7

6
13

6 g-

$693,583

$146,120

parties representing the Holland bondholders. The company was re¬
organized under this title in Jan., 1886. The 1st mort. bonds maybe
redeemed Jan 1, 1891, and of the gen. mort. sufficient are held to retire
the firsts and to ouild the Dresden Branch now in progress. Gross earn¬
ings in 1886, $542,915; net, $130,532; charges, $56,828. Gross in 1885,
$493,890 ; net, $88,001.
Repoit for 1886 in V. 44, p. 433. (V. 44, p.
275, 369, 433 ; V. 45, p. 341.)
Cleveland <fc Canton.—Line of road—Cleveland to Coshocton, O.,
115 miles; Canton to Slierrodsville, 43 miles; Oneida to Minerva, 3 miles;
total, 161 miles. The Connotton Valley Railroad was sold in foreclosure
May 9,1885, and this company was organized with an authorized capital
of $4,000,000 common and $8,000,000 preferred stock.
In May, ’87,
stockholders voted io negotiate a mortgage of $2,000,o00 to change the
gauge to standard, &c. The gross earnings for year ending June 30.1887,

$73,278; surplus over taxes and charges, $1,684.
From July 1 to Oct.
report to Dec. 31, 1886, V. 44, p. 120.

$3703 07; net,

See full
31. 1887 (4 months) gross earnings were
1886; net, $50,205, against $32,42-='. (V.

$138,976, against $135,521 in
43, p. 244, 487; V. 44, p. 120,
84, 271, 292.)
& Indianapolis,—Owns
miles; Gabon, O., to Indian¬

miles;

leased, Cincinnati & Springfield RR., 80 miles; Levering Station to
Mount Gilead, 2 miles; Ind. & St. Louis RR., Indianapolis to Terre
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to Terre Haute, 189
miles; Alton branch, 4 miles; total owned, leased and operated, 738
miles. This was a consolidation in April, 1868, embracing the C. C.
and the Bellefontaine roads; subsequently leased Cinn. & Spring.
and St. L. Al. <fc T. H. RR., and purchased Ind. & St. L. RR.
The company paid dividends prior to 1877, but alter

cfe ('.
RR.

that the

through freight and the heavy rentals paid
reduced the company’s income so that no further dividends were paid
until February, 1880. and none after that till February, 1883. Tu 1882
the company acquired control of the Indianapolis & St. Louis, and made
The sinking
a new lease of the St. Louis Alton & Terre Haute Railroad.
fund provision of consolidated bonds may be canceled at option of
large decline in rates for

C. C. C. «fc

$1,263,162,
surplus over interest, taxes, betterments, <fee.,$230,-

against $1,092,917;
548, against deficit of $316,714 in 1886.
The annual report for 1886 was in the Chronicle, V. 44, p. 368.
On the C. C. cfe I. C. proper, the results for four years were as fallows :
OPERATIONS AND FISCAL

77 Boston

& A.

& j.
& N.
& D.
(fe J.
& O.
-Mar.
& A.*
& S.
& J.
& J.

Inter’l Trust Co,

N. Y., U. S. Trust Co.
do
do
do
do
New York or London.
Now York.

Stocks—Last
Dividend.
Feb. 1,
Jan. 1,
Mar, 1,

1887
1926

July‘l,*

1917

1927

Feb. 1, 1883
Until 1899

May, 1899

N.Y.. Union Trust Co.

June 1,1914
Jan. 1, 1934
Oct. 1, 1898

Cleveland, Office.
S. Trust Co.

Aug. 1, 1893

N. Y., U.
do

do

Irregular.
Sept. 15, 1896
1938

N. Y., Union

Trust Co.

—M. N. Y., Farm. L. & T. Co.
do
do
cfe J.
do
do
<k N.
do
do
& J.
do
do
cfe J.
(fe D. Pliila., Phil. & R. Office.
(fe J. Boston, Treas.’s Office.
N. Y., Cent, Tr. Co.
(fe D.
(fe J. N.Y., First Nat. Bank,
do
do
(fe O.
F. (fe A.
Phila., Penn. RR.
J. (fe J.l N.Y., Farm’s’ L.&Tr.Co.

st’k
5 g.

1,213

&

Q

8,000,000

$694,488

RESULTS.
1885.
1884.

6
7
7
7
6
7 g.
6 g.
6 g.
6

1,378,000

$547,463
$693,175
408

Delaware, O., to Springfield, O., 50

7

F.
M.
J.
J.

1,000

$240,440
$693,275

N. Y., J. A. Horsey,
do
do
do
do

Q.

1,000

1886.

holders, and the bonds so stamped.
From Jan. 1 to Sept. ‘20. 1887 (9 months), gress earnings on
I. proper were $3,321,041, against $3,018,852 in 1886; net,

5

and by

J. & J.
M. »fe S.

J.
F.
J.
M.
7
7 or 6 g. J.
6 g. J.
7
A.
7 g.
7

Where Payable,
Whom.

2
7

(?)
500,000
1,096.000
2,2 0,000
1,609,000
401,000
600,000
4,701,000
6,250.000
2,000,000
1,000,000
1,882,000
2,000,000

When

■

pal,When Due.

Payable

*5*

2,000,000
11,246,971

....

1884

6 g.
5 g

(?)

500 &o.

1862
1867
1873
1'73
1868
1879
>336
1881
1881
1868

Rate per
Cent.

2,759,200
740,500
654,600

•

Cleveland Akron & Columbus Railway,—Owns from Hud¬
O., to Columbus, O., 144 miles. Default was made July, 1874, by
Cleveland Mount Vernon & Delaware. Sold in foreclosure in 1882 to

apolis, Ind., 203 miles;

700,000

500 &c.
500 &o.

1873
1876
18^8
1870

$‘274,730
$454,048
60, 90, 494, 781.)

211, 275, 100, 433, 621, 751; V. 45, p.
Cleveland Columbus Cincinnati
from Cleveland, O., to Columbus, O., 138

3,205,000

m

son,

were

4.007,000

50

1885.

Net earnings
DisbllV S€7HCHtS
Interest ou bonded debt
:...
Other interest and miscellaneous.

$4,000,000
260,000
1,040,000
9,800,000
(?)
14,991,600
231,000
3,000,000

500 <&o.
500 &c.

INCOME ACCOUNT.

1884.

Outstanding

$100

158
127
67
67

mortgage

do

m

Amount

Value.

1886
1837

391
202
390
390

Consolidated sinking fund mort. for $5,000,000..
Constr’n and equip’t income bonds, Series ’‘A”...
Do

8ize, or

161

for $3,000,000

Cleveland & Marietta.—Stock
Cleveland & Pittsburg—Guaranteed

Date
of

of
Road. Bonds

Cleveland Akron <6 Columbus—Stock
1st mortgage bonds, gold
c*
General mortgage, gold (for $1,800,000)
Cleveland <£ Canton.—Stock ($2,800,000 is pref.)...
Mortgage bon ’sfor $2,000,000
Cleveland Columbus Cincinnati <£ Ind.—Stock
.1st mortgage Bel. & Ind
do
C. C., C. & I. sinking fund
Cons, mortgage (sink, fund 1 p. c.)
General consol, mort., gold (for $12.000,000)
Cleveh Lor. & Wheel.—Cl. Tusc. Val. & W. 1st M.. ..
Cleveland <& Mahoning Valley—Stock
1st mortgage, extended
3dmortg. (now 2d)
New mortgage probably
Niles & New Lisbon, 1st

discovered In tbese Tables.
Bonds—Princi

INTEREST

DESCRIPTION.
For

41

BONDS.

AND

STOCKS

RAILROAD

1887.]

Jan.,

1890

1," 1887
Jan., 1892
Nov. 1, 1900
Jan. 1, 1913
Jan. 1, 1934
June 1, 1898
Dec.

July, 1909
1936

June 1,
Jan. 1,

1916

April 1, 1923
Feb. 1,
Jan. 1,

1893

1914
Aug. 19, 1885
M. & S. N. Y., Winslow, L. & Co. Sept. 1, 1931
June 1, 1904
do
do
J. (fe D.
©

V. 44. p. 21. 59, 184, 308,
142, 437, 572.
Cleveland Lorain Sc Wheeling.—Owns from Lorain, O., to
West Wheeliu „, O., 158 miles. Chartered as Lake Shore & Tuscarawas
Valley in 1870 and opened in 1873. Sold under foreclosure Jau. 26,
1875, and reorganized as Cleveland Tuscarawas Valley cfe Wheeling. In

-(V. 43, p. 22, 131, 309, 398, 579, 671;
357, 368, 526, 621, 751; V. 45, p 25, 84,

February, 1883, road sold and

reorganized as Cleveland Lorain &

Common stock is $1,000,000 and preferred $4,600,000. Tn
1885 gross earnings were $755,447; net, $212,111.
In 1886 gross
earnings, $314,357; net, $257,403; interest, $49,000; surplus, $J09,403. (V. 44, p. 653.)
Wheeling.

Cleveland Sc Mahoning Valley.—Owns from Cleveland, O.,
Sharon, Pa., 81 miles; Niles, O., to New Lisbon, O., and branches,
46 miles; total operated, 127 miles.
It was leased to Atlantic & Great
Western in perpetuity from October 1, 1861.
A new lease was
to the reorganized company, New York Penn. & Ohio, till Oct. 1, 196";
the rental is $412,180 per year. Dividends have been paid at irregular
periods and amount to about 11 per cent per annum. In Sept., 1887,
the is ue of new bonds was authorized to provide for the oiUs’auding
issues and to double-track the road from Cleveland to Youngstown.—(V.
45, p. 472.)
to

made

Cleveland Sc Marietta.—Operated from Marietta, O., to Canal
and branch, 99 miles, and 7 miles, Valley Junction to Canal
Dover, leased. The Clev. & Marietta was succ ssor to the M., Pittsb. &
Clev., foreclosed in 1377. The road was again foreclosed May 5, 1886,
Dover

reorganized, and $2,000,000 new stock was issued in June, 1887.
ending June 30, 1887, gross earnings were $.s00.617; net,
$63,103 ; surplus over interest ami rentals, $34,382. In 1885-6, gross,
G. H.
$293,862; net, $62,813. A. T. Wikoff, Pres’t , Cambridge, Ohio
Candee, Secretary ami Treas., 52 William St., N. Y.—(V. 43, p. 431; V.
and

In

year

44, p. 653.)

EE.)—Cleveland, O., to
O., to Now Phila., 31
miles; Yellow Creek to Bellairo, 43 miles; leased, Rochester to Pittsburg
(P. Ft. W. Sc C.), 26 miles; total operated, 226 miles. The property was
leased for 999 years from Dec. 1, 1871, to Penn. RR. Co., and lease trans¬
ferred to Penn. Co. May 1, 1872. Rental, 7 per cent on existing capital
and $10,000 per year for company expenses, the lessees assuming all lia¬
bilities. The terms of the lease were 10 per cent, but the old stock was
subsequently converted into a 7 per cent stock by an increase in amount.
The annual report for the year ending November 30, 1832, stated
that final settlement had been made with the Pennsylvania Railroad
Company in the matter of surplus assets remaining to this company, as
of tlie date of the lease, after closing its business, which surplus accrued
to the lessee by the terms of the supplementary agreement of November
30,1871. “The total amount transferred as authorized by the board
of directors is $202,291. This sum has been charged against construc¬
tion, meeting the old balance of net earnings—$390,138—credited to
Cleveland Sc Pittsburg.—(See Map
Rochester, Pa., 124 miles; branches—Bayard,

1880.”
ending November 30, 1886, the gross
$2,885,234, and the deficit to lessee after making a l
$161,432, against a deficit of $341,981 in 1885.
construction m the year
For the

year

receipts wore
payments was

Barto, Pa., 13
Philadelphia & Reading,
changes in bonds given

Colcbrookdale.—Owns from Pottstown, Pa., to

miles. Leased for 20 years from Jan. 1,1870, to
at 30 per cent of gross earnings, but proposed
in V. 45, p. 143. Gro«s earnings in
per cent rental), $16,658. Gross in

1885-36, $ >5,528; net earnings (30
1884-5, $44,90 > ; net (30 per cent),
$13,471. Capital stock, $297,215. (V. 45, p. 113.)
Operations—
Colorado Central—(See Map of Union Pacific)—Denver to Golden
Passenger mileage... 43,548,617 42,176,610 38,145,360 39,496,055
Rate $ pass. $ mile.
2*217 cts.
2*133 cts.
2*091 cts. 2*150 cts. 16 miles ; Golden to State line, 106 miles; D mver Junction to La Salle,
Freight (tons) mil’ge.408,436,350 397,678,278 428,691,881 423,545,587 15i miles; and narrow gauge line from Golden to Georgetown, 34
Av. rate 19 ton & mile
0*751 cts.
0*633 cts.
0*577 cts.
0*679$cts miles, and Forks Creek to Central City, 11 miles; leases line from
$
Colorado Junction to Wyoming State lino, 9 miles; total operated, 327
Earnings— ~
$
$
849,168
797,679
miles. Chartered in I860, and main line opened in 1870. It is owned by
Passenger
965,693
899,435 2,471,863
2,877,157 the Union Pacific. ‘ The new mortgage bond was issued to take up the
Freight
3,068,717 2,518,873
194,165
136,865
old 8 per ceut bonds, of which $87^000 arc yet out.
178,697
182,038
Mail, express, <fec..
Stock, $6,230,300.
3^4567407 3,920,49u Gross earnings in 1885, $1,320,765; net, $299,443; interest, $336,030;
Total gioss earn’gs.
4,213,107
3,600,346 2,812,182
2,699,361 deficit $36,586.
In 1886, gross earnings, $1,391,215; net, $414,112 ;
Oper. exp. & taxes...
3,143,526 2,875,853
interest,
1883.

391

Miles owned

1886.

391

391

391

..

1,069,581

Net earnings

644,225

724,493

1883.

$

Receipts—
Net earnings
Rentals ana interest
Miscellaneous
..

Total income....
Disbursements—
Interest on debt....
Dividends

Miscellaneous
Total disbursein’ts

Balance surplus.....
*

From the

1,069,581
129,497
165,531

$

$

,

644,225
213,032

724,493
211,396
13,805

1,221,129
263,626

1,364,609

949,694

857,257

1.484,755

507,453

602,540

659,385

702,810

102,633

79,896

2,133

705,173

739,281
117,976

704,943
*779,812

(2) 299,984
26,995
834,432
530,177

244,521

*

eaoh year, there was spent
$177,144; m 1886, $18*.418.

surplus as here given

tions to property; In 1885,




$

1886.

1885.

1884.

$336,030; surplus, $78,341.

1,221,129

INCOME ACCOUNT.

for addi¬

Map)—This standard gauge road has
completed from Colirido Springs to Newcastle, Colorado, 178
miles; road was opened fer op ration Sept. 1, 1887, to LeadviHe, 133
miles; branch to Aspen, 17 miles. At Colorado Springs connection is
made with Denver &c Pueblo over the Denver cfe Santa Fe road, which
Colorado Midland.—(See

beeu

of the Atchison Topeka &
is for $6,250,0 *0, being at
is $5,000,000. See abstract
or New York, trustee), in V. 45,
Hagerman, Colorado Springs, is the President.—(V.

has just been constructed in the interest
Sauta Fe. The mortgage upon the property
the rate of $25,000 a mile, and the stock
of mortgage (Central Trust Company

p.

540.

Mr. J. J.

45, p. 304, 509, 540.)

Colombia Sc Greenville (S.

C.)—(See Map of Rich. A Dan.)—The

l4i

company owns from Columbia to Green ville, S. C.,
miles; branches to
Abbeville and Anderson, 21m; total 164 miles. Also owns Laurens RR.,
31 miles and leases Blue Ridge RR., 32 m., and Spartanburg Union <fc
Col. RR.. 69 m. Total operated, 296 miles. The Greenville <fe Col. road
was sold in foreclosure April 15, 1830, and reorganization was made

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November,

18S7-1

Subscribers will eourer a

great favor by

DESCRIPTION.
For

explanation of column
on

first page

Ac., see notes
headings,
of tables.

Columb. Hocking Valley d Toledo—(Continued)—
Col. A H. V. 1st mortgage, sinking fund bonds..
Col. A H. V. 2d mortgage bonds...;
Columbus A Toledo, 1st & 2d mort. co non, s. f..
Ohio & W. Va., 1st M. (s. f. $15,000 begins in ’86)
Columbus Sptnngfield d Cincinnati—1st mort
Columbus d Western— 1st M. (end. by Cent. Ga.).c*
Columbus & Xenicv—Stock
1st mortgage

Concord—Stock
Concord & Claremont—Bonds
Concord & Portsmouth,—Stock,

Connecticut Central—1st mortgage, cp.
Connecticut & Passumpsic—Stock
Mortgage

orreg

bonds

121
121
118

85
45
60
55
55
172
71

147
110
37
37
22
80
7

78
60
38
38
82
52
24

2d mortgage, sinking fund, (guaranteed)
Cumberland Valley—Stock ($484,900 is preferred).

2d mortgages

Southern

Danbury

Pennsylvania, 1st mortgage,

dNorwalk—Stock.

1st and 2d mortgages

gold
.•

Consolidated mortgage
General mortgage
Dayton Ft. Wayned Ch.—IstM.($21,000 p.
Dajton A Ironton, 1st mortgage, gold

m.)

1867
1872

1.000

1,000

1880
1871
1881

1.000

....

1860
_

_

1874
1875
„

m

„

1873

1,000
1,000
50

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

Amount

Outstanding

1,584,000
1,000,000
800,000

1,786,200
302,000

1,500,000
500,000

100

2,370,000
991.000

50

500Ao.
....

36*2
155

1885

50
100 Ac.
....

7
6
5

6 g.

J.

7

212
6 g.
5
2
6
6
6 g.
6
6

1,250,000
720,000
803,500
392,000
1,777,850
270,500

212
8
7 g.

625,000
600,000

212

400,000
100,000

150,000

1,000

1,300,000

Deposit.—Owns from Columbia, Pa., to
Port Deposit, Md., 40 miles. Ceased to and operated by Pennsvlvania
RR. Co. Rental, net earnings. Rental in 1885, $33,150; in 1886. $51,$107. Capital stock, $497,100; funded debt, $1,882,000, and floating
debt

Port

Sc

(coupons), $1,004,290.

Columbus Sc

Cincinnati midland.-Lino of

road, Columbus,

in Nov., ’8 4. Stock, $2,000,000.
agreement with the Baltimore A
earnings in 1886, $320,259;
Cincinnati, Ohio. (V. 44, p. 495.)
Columbus Hocking Valley Sc Toledo.—Owns main line
from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26;
Logan to Straitsville, 13; Straits'e to Nelsonville, 17; others, 14; total,328.
This was a consolidation in July, 1881, of the Columbus & Hock¬
ing Valley, Columbus A Toledo, and Ohio A West Virginia. The stocks
of those companies were purchased and new consolidated stock for
$20,000,000 authorized; in August, 1885, a stock dividend of 13^8 per
cent was made, bringing the total outstanding up to $11,696,300. Of
the consolidated mortgage $6,500,000 was reserved to meet the prior
liens, and the “ Hocking Coal A RR.” joined in making these bonds. The
Central Trust Co. of New York is trustee. The general mortgage of 1884
covers the road, and is also a mortgage on the coal property of the
“Hocking Coal & RR. Co.,” whose stock is owned by the C. H. & T.
A combination was made in 1885 with the reorganized Ohio Central
by which the company will be under one management, as per the circu¬
lar in V. 40, p. 597, and the C. A H. V. guarantees the interest on the
T. & O. C. 1st mortgage bonds.
From Jan. 1 to June 30, in 1887 (6 months), gross earnings were
O., to Clinton Val., O., 71 m. Opened
The company has a 50-years traffic
Ohio andCiu. W. & Balt, companies. Gross
net, $112,795. Orland Smith. Pres.,

A

J. Bost., Intern’l Trust

Co.

Nov.

1, 1897
1, 1892
A 1905

1910
1, 1901

1,

1, 1911

10, 1337
1, 1890
1, 1887

1894
June, 1887
Oct, 1, 1895

1, 1887
April 1,1893
Aug. 1, 1887
Jan. 1, 1890
Jan. 1, 1911

Au*.

Oct. 1, 1887
1900-’l-’2-’3-’4
May 1, 1898

Sept. 1, 1915

1,1891
May 1. 1888
Oot., 1887

March

1904 A 1908
Mar. 1. 1900

Aug. 15, 1887
1890-92
1920
1925
Jan.

1,

1925

INCOME ACCOUNT.

under this name;

Columbia

Bost.AMancliester.N.H.

J. Bost., Treasurer’s office
J. Bost.AMancliester.N.H.
New York City.
O.
A. Bost.Safe Dep.A Tr.Co.
do
O.
do
A.
do
J.
do
J.
Q.-J. Boston, Springfield, Ac.
M. A 8. Phila., Penn. ftR. Office.
M. A N. Phila. F. I.T. AS.D. Co.
M. A S. N.Y., Green A Bateman.
M. A 8. N.Y., Consol.Coal Office
do
do
M. A N.
Q.—J. Phila. and Carlisle. Pa.
A. A O. Phila., T. A. Biddle A Co.
M. A S.
F. A A New York and Danbury
J. A J. Housatonio RR., Bri’pt
do
do
J. A J.
A. A O. N.Y., Bank of Republic.
A
A
A
A
A
A
A
A

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

7

350,000

100

preferred stock, $1,000,000; common stock. $1,000,000; par of shares $luO. A majority of the stock was held by the Rich
mond & West Pt. Terminal Co., and in May, ’86, this road was lease i to
the Rich. A Danville RR. Co. The gross earnings on all lines in 1884-85
were $724,316 ; net, $345,176; interest and rentals, $243,166; surplus .
$102,009. In 1885-6, gross earnings. $655.631; net, $214,833; interest
and rentals, $251,418; deficit, $36,585. (V. 43, p. 718.)

M. A S.
M. A N.

212

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

,

Q.-M.

2,500,000
1,500,000
400,000

1864
1383
1885
1866
1868

1,000

Various
M. A N.
M. A S.
J. A J.

312

400,000

Y., Win slow, L. A Co. Oct,
Jan.
do
do
1900
do
do
May
do
do
Bost.,3 Merchants’ Row Sept.
Jan.
N. Y., Nat. City B’k.
Columbus, O., Treasurer Sept.
N. Y., Am. Exch. N. B’k Sept.

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

350,000
325,000

1,000
1,000

Dividend.

Whom.

Payable

7
7
7
7
7
6
2
7
5
7

777,000
3,040,000

pal,^When Due.

Payable and by Slocks—Last

Where

When

Rate per
Cent.

$1,401,000

1870
1881

’70-’72
1880
1883

33

$500Ac.

’75-’80

36*2

....c*
o*
c*

discovered In these Tables
Bonds—Princi¬

INTEREST OR DIVIDENDS.

41
29

Massawippi st’k, guar, same div. as Conn. A Pass.
do
bonds, guar. bjr Conn. & Pass
Newport A Richford bonds, guar, by C. & P
Connecticut River—Stock
Connecting (Phila.)—1st mortgage
Coming Cowanesque d Antrim—Debenture bonds..
Covington d Macon— 1st M.t gold ($12,000 per in.).
Cumberland d Pennsylvania—1st mortgage
1st and

giviug immediate notice of any error

Date
Size, or
Miles
Pai
of
of
Road. Bonds Value.

guaranteed

43

STOCKS AND BONDS.

.RAILROAD

1883-84.
Gross

earnings

Net earnings
Disbursements—

$1,142,894
$476,190
$144,593

Rentals

1885-86.
1884-85.
$1,100,86 4 $1,071,963

1886-87.

$406,379

$452,573

$1,166,847
$479,475

$113,319

$112,532

$113,005

37,360

37,755

36,872

37,359

Improvements and re¬
served for imp’s, Ac.
Dividends, 10 per cent.

143,236
150,000

104,091

152,314

178,074

150,000

150,000

150,000

Total disbursem’ts.

$475,189

$405,165

$451,718

$478,438

Taxes on stock

Surplus
-IV. 43, p.

$1,001

210; v. 44, p. 652.)

Concord

Sc

$1,214

Claremont.—Owns from

$855

$1,037

Concord to Claremont,

Contoocookville to Hillsborough, N. H.,
BR., 18 miles; total operated,
lease to the Boston A Lowell

N. H., 56 miles; branch,
15 miles; leased—Peterboro A Hillsboro
89 miles. Capital stock. $412,400.
The
RR. having been held invalid, this road was

operated indepently after

(V. 45, p. 26).
Concord Sc Portsmouth.—Owns from Portsmouth, N.
The road was sold to first
Manchester N. H.. 4082 miles.

July 1,1887.

H., to

mort¬

1857, and leased to Concord RR. in 1862 for 99
$25,000 a-year, which gives 7 per cent a year to
present stockholders. There is no debt.
Connecticut Central.—Owns from East Hartford, Ct., to Massa¬
chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
miles; total operated, 28 miles. Leased to New York A New England RR.
for 15 years from Juno 1,1880, the rental to bo net earnings, but never
to exceed 6 per cent per year on stock. Capital stock, $448,500. Funded
debt, $325,000, all owned by New York A New England Railroad,
and ou suit for foreclosure by the lessee company it was held that they
Gross earnings in
must account to stockholders for the earnings.
1885-6, $81,912; net, $1,812; interest, $22,750; deficit, $20,938. (V.

gage bondholders in
years. Lease rental is

44, p.

275, 713.)

Connecticut Sc

Passumpsic.—Owns from White River Junction,

Massawippi Valley and branch
miles. The lease of Massawippi
Railroad is at 6 per cent on bonds and same dividends as are paid on
the stock of the lessee.
From January 1, 1887, this road was leased
to tlie Boston A Lowell for 99 years on a basis to pay C. A P.
stock 5 per cent per annum for ten years and 6 per cent thereafter.
INCOME ACCOUNT.
Gross earnings in 1885-86, $758,930; net, $286,981.
From July 1 to
Dec. 31, in 1886 (when B. A L. took control), gross earnings were
18b6.
1885.
1884.
1883.
$418,791; net, $193,795.—(V. 43, p. 308 : V. 44, p. 400.)
$
$
Receipts—
$
2,361,403
Connecticut River.—Owns from Springfield, Mass., to South Ver¬
2,3li,003
1,842,473
Gross earnings
2,779,382
978,010 non, Vt., 50 miles; branches, 6 miles; leased Aslmelot RR.. South
977,306
601,819
Net receipts
1,123,812
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles.
In year ending Sept. 30, 1886, net earnings were $270,213 ; in 1886-87,
Disbursements
946,925
88
4,56 4
866,060
$263,773. Pays regular dividends on stock and has no funded debt,
Int. on bds. A car tr.
866,060
42,832 but notes
61,586
56,814
payable, $450,000. (V. 43, p. 547; V. 45, p. 572.)
Int.
float'g debt..
35,725
22,581
22,902
22,277
22,628
Int. to Pa.RR.on l’se
Connecting
(Philadelphia).—Owns from Mantua Junction to
18,7.50
1,490
Miscellaneous
Frankford Junction, Pa., 7 miles.
A connecting link in Philadel¬
Operated by Pennsylvania Railroad.
phia to the West and South.
Rental, 6 per cent on capital stock ($1,278,300); and interest on funded
970,542
Tot. disburse’ts.
924,413
945,151
1,031,038 debt
($991,000). The bonds are issued in series ABC and D, maturing
Balance.;
sur.199,399 def. 343,332
sur. 6,764 def. 53,078 respectively in 1900-’l, ’2, ’3 and ’4.
-(V. 43, p. 452, 196; V. 44, p. 90, 117, 148, 211, 275, 400, 493; V. 45,
Corning Cowanesque Sc Antrim.—Owns from Coming, N. Y.»
to Antrim, Pa., 53 miles; branch, Lawrcnceville to Harrison Valley,
p. 292)
Pa., 32; total operated, 85 miles.
Consolidation (January, 1873)
Columbus Springfield Sc Cincinnati.—Owns from Columbus, of
the Blossburg A Corning RR. and the Wellsboro RR. June 1, 1874.
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky the Cowanesque Valley RR. was absorbed. These lines are leased to and
A Cleveland to Indiana Bloomington & Western, May 1, 1381, for 33i3
operated by the Fall Brook Coal Co., together with 7 miles owned.
paid—6 per cent on bonds, 6 per cent on common stock and 7
f the
this company
takes Rental
Ser
centexcess
over minimum,
earnings, with
if any,
guarantee
on 33i;} basis,
of
$80,000
as
of gross
minimum.
cent on preferred stock; dividends paid quarterly, Maroh 31, Ac.
one-fifth and Cincinnati Sandusky & Cleveland four-fifths.
Capital per
Stock—common, $1,500,000, and preferred, $500,000. The coal line of
Stock, $1,000,000, and bonds, $1,000,000.
Phila. A Reading and N. Y. Central is over the road of this company,
which jointly guarantees the bonds of the Pine Creek Railroad
Columbus Sc Western.—Owns from Opelika to Goodwater, Ala.
60 miles, and Columbus to Opelika, 29 miles—total 89 miles.
The Company. Earnings in 1885-86, $614,688; net, $202,208; rental
paid C. C. A A. RR., $150,000; surplus to lessee, $52,203. Earnings in
Savannah & Memphis RR. was foreclosed June 5, 1880, and this Com¬
pany organized.
Extension is in progress from Goodwater to Birming- 1884-85, $607,595; net, $179,195; rental paid C. C. A A., $150,000;
surplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
nam, Ala., 70 miles, which is expected to be completed in January,
1888.
The bonds are endorsed bv Cen. RR. of Georgia.
There are
Covington Sc Hacoii.—Line of road, Macon, Ga., to Athens, Ga.
also $260,000 bonds at 8 p. c. due Oct., 1890, int. A. and O. Gross
Katontou and Griffin, Ga., 102 miles (practically completed by Oct.
earnings in 1885-86. $173,207; net, $52,127. Gross in 1884-85, $173,- 1887). with other lines projected.
Bonds are issued at the rate of
442; net, $53,987. Stock, $1,750,000. W. G. Raoul, Pres't, Savannah. $12,000 per mile and capital stock $12,000 per mile. Douglass Green,
10 Wall Street, New York City, is President.
Columbus Sc Xenia.—Owns from Columbus, Ohio, to Xenia, Ohio,
Cumberland Sc Pennsylvania.-Owns from Cumberland, Md..
55 miles. Is operated as a division of the Little Miami, and is leased
for 99 years in connection with that road to the Pittsburg Cincinnati & to Piedmont, Md., and several branches, 55 miles. It is owned and
8t. Louis, which pays 8 per cent on stock and provides for the bonds. operated by Consolidation Coal Co., which guarantees second mortgage.
The lease is guaranteed by the Pennsylvania Railroad Company. The
Cumberland Valley.—Owns from Harrisburg, Pa., to Potomac
Columbus 6c Xenia pays 825 per cent dividend per annum.
River, Md., 82 miles; leased—Martinsburg A Potomac IiR., 12 miles;
DillsburgA Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
Concord.—Owns from Concord, N. II., to Nashua,N. H., 35 miles; 23 miles; controlled, Mont Alto RR., 18 miles, but accounts kept sep¬
Manchester A North Weare, 19 miles; Hookset Branch, 7 miles; leased—
arate ; total controlled and operated, 141 miles.
Owns or leases sev¬
Concord A Portsmouth, 41 miles; Suncook Valley, 20 miles; Nashua
eral factory roads, in all about 43 miles. The stock is owned in large
Acton A Boston, 20 miles; Manchester A Keene RR., 30 miles; total
part by Penn. RR.Co. Large advances have been made to branch roads.
operated, 172 miles. Fiscal year ends March 31. Annual report, in V.
Operations and earnings on the main line for four years past were;
44, p. 652. Income account was as follows:

$499,629.
The earnings of 1884 were greatly reduced by the miners’ strike in
the Hocking valley, lasting from June, 1884, to March, 1885. Annual
report for 1886 in V. 44, p. 493; income for three years was as follows:
$1,239,123

;

net,

—

on




Line, 110 miles; leased,
(Canada), 37 miles; total operated, 147

Vt., to Canada




INVESTOR’

SUPLEMNT.
[Vol.
xlv,

November,

KAILROAD

1887.]

Subscribers will

confer a great favor by

explanation of column headings,
on first page of tables.

Date
Size, or
Par
of
Road. Bonds. Value

Miles
of

&c., see notes

141
141
142
142

(S^guar.C.H.&D.)

Dayton <£ Michigan—Com. stock
Preferred stock, (8 percent, guar.
3d mortgage

Consol, mortgage, guar, by C.
Toledo Depot 2d mortgage
Dayton <t Union—1st mortgage,

C. H. & D.) —

H. & D

....

32

sinking fund
Dayton <k Western—1st M., guar. L. M. and C. & X.
Delaware—Stock
Mortgage bonds, convertible, guar. P. W. & B—
Delaware <k Bound Brook—-.Stock, guaranteed
Income

mortgage bonds

1st mortgage
2d mortgage debenture

....

41
100
85
31
27

bonds, reg

....

886

Delaware Lackawanna <& Western—Stock
288
Consol, mort., on roads & equipm’t, ($10,000,000)
Plain bonds (not mortgage)
44
Del. Maryland <£ Ya.—June. & Breakwater—1st M.
44
Juno. & Breakwater, 2d mortgage
19
Breakwater & Frankford, 1st mortgage, reg
35
Worcester Railroad, 1st mortgage, coupon
1,317
Denver <& Rio Grande—Stock ($45,500,000)
1,317
Pref. stock, 5 per ct., non-cum. ($28,000,000) —
295
....

1st mort.,

gold, sink, f’d

Consol, mortgage, gold (for $42,000,000)
c*
Denv.db R.Gr. West— 1st, g. ($16,000 p.m.),cp.or reg.
Coupon certificates (see V. 41, p. 273)
Denver South Park <£• Pac.—1st M. gold, sinking fd.
Consol, mort. gold ($17,000 per mile)
Dear. Tex. dc Ft. Worth—1st M. ($20,000 per rnileKe*
Denver Texas efi Gulf— 1st mortgage
Des Moines A Ft. Dodge— 1st mort., coup., guar —
1st mortgage, income, guaranteed by C. R. I. & P.
Mortgage on

extension, guaranteed by
Freight (ton)

Years.

1883
1884
1885

1886

Miles.
125
125
125
125

Mileage.
30,018.284
27,965,208

25,844,869

1,447
370
....

150
....

120
138
88
88
56

C. R. I. & P.

Gross

Net

Earnings.

Earnings.

$793,063

$223,044

$50
1871
1869
1881
1864
1879
1879
1864

50

1,000
1,000
....

1,000
1,000
1,000
25

....

1875
....

1875
1879

500 &c.
•

•

....

1870
1886
1881
1885
1876
1880
1887
1887
1874
1874
1881

•

....

....

50

....

1877
1872
1860
1879
1873
1876

•

....

1,000

$2,403,171
1,211,250
351,000
2,324,000
53,000
225,000
173,000
495,000

1,537,060
650,000
1,742,000
1,500,000
242,000
26,200,000
3.074,000
600,000
400,000

250,000
200,000

....

400.000

....

100
100
500&C.
500&C.

1,000
300

1,000
1,000
1.000

1,000
1,000
1.000
1,000

10

763,332

213,333

9*2

9h)

699.393
733,708

255.811

196,285

8
8

8
8

from Danbury, Conn., to Wilson
miles; branches to Ridgefield and
Hawleyville, together 10 miles; total operated, 36*2 miles. In July,
1886, a lease of this road was made to the Houeatonic for 99 years, the
lessee to pay interest and 5 per cent per annum on stock.
In 1385-86
net earnings were $92,510; in 1884-5, $80,129.
(V. 43, p. 334.)
Sc Chicago.—Road from

Outstanding

....

Div. p. ct.—
Pref. Com.

10

Amount

....

Daubury Sc Norwalk.—Owns
Point, South Norwalk, Conn., 20^

Dayton Fort JWuyne

discovered in tbese Tables.
Bond*—Princi¬

giving immediate notice of any error

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

45

BONDS

AND

STOCKS

Where

Rate per

When

Cent.

Payable
A.

1%
2
7
5
7
7
6

6 & 7
3
6
2
7
6

1%

2^

672.000

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

F. & A. Phila.,Guar.T.& S.D.Co.
M. & N.
Philadelphia.
Q.-J. N. Y., 26 Exchange PI.
do
do
M. & S.
do
do
J. Sc D.
J. & J.
Philadelphia.
do
F. & A.
do
J. Sc J.
do
A. & O.

Oltice, 47 Wm. St., N.Y.

...

g.

g.
g.

g.

g-

2hj
4

M. &
J. &
M. &
M. &
M. Sc
J. &
M. Sc
A. &
J. &
J. &
J. &

N. N. Y.
8.
8.
N.
J.
N.
O.
J.
J.
J.

N. Y., 4th
do

May, 1905
May 1, 1899
Oet. 29, 1887
Sept. 1, 1907
June, 1892
1890
1899
1898
1896

July

i2,1887

Nov. 1,
Jan. 1,

1900

1930
National Bk. Sept. 1, 1911
do

do
N.Y., London& Frankf’t
N. Y., Co.’s Agency.

N. Y., Mercantile Tr.Co.
N. Y. Co.’s Agency.
N. Y., Morton, B. & Co.

do
do

do
do

At will.

May 1, 1905
Jan. 1, 1921
Nov.

1. 1937

April 1937.
.Jan. 1, 1905
June 1, 1905
June 1, 1905

18,
the company’s income aocount for
years from the report in Chronicle, V. 44, p. 273.
1883.
1884.
1885.
1886.

Gross reo’ts,

in 1886,115®144; in 1887 to Nov.

$
all sources. 32,819,606

Operatmg expenses
Betterments
Total expenses
Not

Office, 47 Wm. st.
do

J.

86%®133ie; in 1885, 825g®12958;
incl., 12318 ^1391«.
The following is a synopsis of
four

Stocks—Last
Dividend.

Oct., 1887
& O. N. Y., Winslow, L. Sc Co
do
do
Oct., 1887
do
do
Oct., 1888
& 0.
Jan. 1, 1911
do
do
& J.
March 1, 1894
do
do
& S.
& D. N.Y., Am.Exch.Nat.Bk. Dec. 1, 1909
After 1910
& D.
& J. N.Y., Bank of America. Jan. 1, 1905
July 2, 1887
Sc J.
Dover, Co.’s Office.
& J. Phil., Fid. I.T.&.S.D. Co. July 1, 1895
Nov. 16, 1887
Philadelphia.

Q.-F.

7
7
4
4
4
4

7
4
6
5
7
6
5
5
4

Whom.

Q.-J.

38,000,000
23,650,000
6,382,500
25,175,000
6,900,000
(0
1,800,000
2,925,000
(0
3,000,000
1,200,000
1,200,000

pal,^When Due.

Payable, and by

receipts

...

$
$
$
31,311,992 31,091,677 32,342,865

23,093.048 23,008,147 23,220,572
1,072,816
385,033
443,182

24,954,433

164,029
24,105,864 23,393,180 23,‘‘63,754 25,118,402
8,653,742 7,918,'12 7,427,923 7,224,403
INCOME ACCOUNT.

Dayton.O.,to Iron-

1883.

.

1884.

1885.

1886.

Net receipts
8,653,742 7,918,813 7,427,023 7,224,403
Ironton road), arid projected
4,946,943 5,113,322 5,187,089 5,186,711
This company was form d in Interest anil rentals
D.cyton & Ironton and the Dayton
3,706,799 2,805,490 2,240,834 2,037,692
the Cinu. Hamilton & Dayton. Stockau- Balance, surplus
2,006,000 2,696,000 1,96^,000 1,834,000
thorized. $15,006,000. The bonds are for $5,500,000, authorized. F. Dividends
Rate of dividends
8
8.
7*2
7
B. Loomis, President, N. Y.
(V. 45, p. 13, 53.)
Dayton Sc IRichlgan.—Owns from Dayton, O., to Toledo, O., 141 Balance after divid’ds.. 1,610,799
709,490
275,834
203,692
miles. Leased May 1, 1863, in perpetuity to the Cincinnati Hamilton &
BALANCE
CLOSE
OF
EACH
YEAR.
GENERAL
AT
FISCAL
Dayton. Lease amended January 23,1870. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and 3*2 per
Assets1883.
1884.
1885.
1886.
cent on $1,003,300 common. Of the common stock only $1,003,300 is RR. buildings, equip$
$
$
$
guaranteed 3*2 by C. H. & D. Profit to lessee in 1883-84, $161,990;
m’t, coal lands, Ac.. 33,039,336 34,250,418 34,508,017 34,496,431
1884-85, $196,387; 1835-6, $215,219. The lessees held $1,399,273 of Stks&bds,own’d,cost
6,503,85 1 5,449,713 5,374,918 4,770,654
the common stock, but sold this in Juue, 1887. (V. 44, p. 751.)
Net cash & cur. aoc’ts
*147,987
*527,121
*357,562
*897,331
1.265,310 1.019,712
941,372 1,221,174
Dayton Sc Union.—Owns from Dodson, Ohio, to Union Cicy, Ind., Materials, fuel, &o...
32 miles; leased Dayton to Dodson, 15 miles; total opeiated, 47 miles.
Total
41,007,034 41,276,965 41,181,899 41,385,590
The Greenville Sc Miami RR. was sold out Oct. 30, 1862, ind re-organLiabilities—
ized as now Jan. 19, 1863. Operated by trustees since December 23, Stock
26,200,000 26,200,000 26,200,000 26,200,000
1871. Capital stock, $86,300.
In 1885-6 gross earnings were $163,- Funded debt
4,044,900 4,044,900 3,674.000 3,674,000
975; net, $63,410. In 1884-5 gross earnings, $135,140 ; net, $45,694.
Balances
439,560
Surplus account
10.322,574
11,032.065 11,307,899 11,511,590
Dayton Sc Western.—Owns from Dayton, O., to State Line, Ind.,
41,007,034 41,276,965 41,181,899 41,385,590
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami- Total liabilities
aml carried with that road in the general lease to the P. C. Sc St. L. The
Net balance between liabilities and assets.
lessees are virtual owners and are answerable for ail obligations.
-(V. 43, p. 580; V. 41, p. 149, 212, 273; V. 45, p. 212, 643.)
Delaware.—Owns from Delaware Junction (P. W. Sc B.), Del., to
Delaware JIarylaud Sc Virginia.—Consolidation June 1,1883,
Delmar (Mil. Line), 84 miles; branches, 16 miles; total operated. 100 of the Junction Sc Breakwater, the Breakwater Sc Frankford and the
miles. The Dorchester & Delaware and Queen Anne Sc K. railroads Worcester railroads. Road extends from Harrington to Rehoboth, Del.,
now operated by P. W. & B. RR.
The Delaware Railroad was opened 44 miles; Georgetown to Franklin City, Va., 54 miles; total, 98 miles.
1855-60, and is leased for 21 years from 1876 to the P. W. Sc B. In July, 1835, the company p;issed into control of the
Pliila. Wil. &
Co.; rental 30 per ceut of gross earnings, but stock must have 6 per Balt. RR and became part of the Penna. RR. system. Earnings for
cent.
Gross earnings 1885-86, $671,738 ; net, $201,522; interest and
1385-86, $149,357 ; not, $27,317; fixe l charges, $30,000.; def. $77,3 L7.
dividends, $130,734 ; surplus, $70,V17; 1884-85, gross, $844,117; net,
Denver Sc Rio Grande (3 feet.).—(See Man) -CLvns from Denver
$193,225 ; interest an 1 dividends, $130,734; surplus, $62,501.
City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
Delaware Sc Bomid Brook.—Owns from Bound Brook (Cent
Junction, to the western boundary of Colorado, where it conneots
of New Jersey) to Delaware River, 27 miles; branch, main line to
with the Denver Sc Rio Grande Western, to Salt Lake City and Ogden,
Trenton, 4 miles; total operated. 31 miles. In connection with Central
making the distance from Denver to Ogden 771 mile.-., and from Pueblo
of New Jersey and North Pennsylvania forms a line between New
to Ogden 651 miles. Branches run to Leadville, Dillon, Rial Cliff, Crested
Yoik and Philadelphia. In May, 1879, the property was leased for
Butte, Silver Cliff, Chaffee, Aspen,Ouray and Hot Spi ings; also from Pueb
990 years to the Philadelphia Sc Reading Railroad Company—the lessee
lo to Silverton, via Cuchara, Alamosa and Durango, with branches to El
paying interest and 8 per cent on stock after May, 1883. Gross earnings Moro, Espanola, Del Norte and Wagon Wheel Gap; total operated Dec.,
in 1885, $689,432; net, $381,916.
In 1886, gross, $736,110; net. $397,- 31, ’85, 1,317 miles. The standard gauge new road from Rock Creek to
829; rental $257,880; net profit to lessee, $139,949. (V. 44, p. 211.)
Aspen. 101 miles, was finished Nov. 1,1887, and with third rail on other
parts the total standard gauge Dec., 1887, exceeds 405 miles.
Delaware Lackawanna & Western.—(SeeMap).—This comp my
The former D. Sc R. G. Railway was foreclosed, under the old consoli¬
operates under lease an extended system of roads in New York, Penn¬
mortgage, July 12, 1886, and sold for $15,000,000. Reorganiza¬
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New dated
"York State line. 115 miles; branches—Scranton to Northumberland, tion was made under the title of Denver Sc Rio Grande Railroad Co.
Of the $42,000,600 consol, gold bds. (U. S.Tr. Co., trustee) authorized,
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. & $6,382,500 were reserved to retire the old bonds when due; $6,990,000
Western RR., 214 miles; Cayuga Sc Susquehanna
RR., 3 4 miles; retained for acquiring the Denver & Rio Grande Western or
Greene RR. 8 miles; Oswego Sc Syracuse Railroad, 35 miles; Utica to extend the Denver Sc Rio Grande to Ogden, and $5,525,800
Chenango A Susquehanna Valley RR., 97 miles; Valley RR., 12 miles; held in the treasury, to be issued for future capital requirements or the
controlled and operated—Syracuse Binghamton Sc New York, 81 miles; construction of branches, but only with the consent of preferred stock¬
leased lines in New Jersey—Chester RR., 10 miles; Morris Sc Essex, 118 holders. Of the $45,500,100 common stock, $7,500,000 to be held to
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 acquire the Den. Sc Rio Gr. West., or to build the line to Ogden, and $4,miles; Passaic Sc Del., 14 ; total operated, 886 miles; the Rome Sc Clin., 350,000 of prof, stock reserved for the same purpose. The rolling stock
is owned by the co upany; and after reorganization the total annual
13 miles, and Utica Clin. Sc Bing., 31 miles, were surrendered April, 1883.
In 1882 the important connection to Buffalo, the N. Y. Lack. & West, charge for interest on bonds was $1,349,775. The preferred stockholders
have the right till 1891 to elect two thirds of the directors, unless divi¬
was opened, and the road was leased by this company. The Lackawanna
dends ar 1 paid on of net earnings for tw > full years 01 the preferred
& Bloomsburg was consolidated with this company June 19, 1873.
stock, after which the directors shall he chosen by all the stockholders.
The Delaware Lackawanna & Western Railroad publishes no annual
From Jan. 1 to Sept. 30. 1887 (9 months), gross earnings were
report in pamphlet form but merely a circular showing income
against $4,750,697 in 1886; net, $2,317,018, against
account and balance sheet. The road was operated mainly as a coal $5,721,293,
$1,698,077,
earner and distributer till 1882, when the line from Binghamton to
Earnings, expenses, &c.. for four years were as follows, no earnings
Bufialo was built and leased to tae Delaware Lackawanna Sc Western,
and the company entered the field as a competitor of the trunk lines or expenses of the Utah leased lines being included in 1881 or 1885 :
1883.
1884.
1885.
1886.
between New York and Buffalo.
Miles oper. Dec. 31...
1,679
1,317
1,317
1,317
The Delaware Lackawanna A Westei n formerly paid 10 per cent on its
$
$
$
$
stock, but its numerous railroad leases became onerous, and in the dull
5,552,103 6,119,051 6,738,077
times. 1876 to 1880.no dividends were paid; in 1380 3 per cent was Total gross earnings.. 7,361,546
3,758,530 3,935,273 4.227,417
paid; in 1881. 6%; in 1882, 1883, and 1884, 8; in 1883, 73*; in 1886, 7. Operating expenses .. 4.743,111
Prices of stock yearly since 1870 have been; 1871, 102® 111 83; 1872, Net earnings
2,618,435
1,793,573 2,183,781
2,510,660
91®112L2; 1»73, 7912410G; 1874, 99®1123a; 1875, 106^® 123; 1876, Other receipts
114.531
34,40 L
67,227
46,740
64^2® 120^8; 1877, 3078®77 : 1878. 41 ®61.7a; 1879. 43®94; 1830, 68^
Total Income
2,732,966
1,827,974
2,251,007
2,557,400
® 11014; 1881, 107® 131; 1882, llG^SGSO^; 1883,111^131^, 188),

ton, 155 miles (the former Dayton x
miles from the main line to Fort Wayne.
June. 1887, by consolidation of the
& Chicago by the Ives party to




*

46




INVESTORS’

SUPPLEMENT.

[Vol. XLV.

November,

Subscribers will confer a

great favor by giving Immediate notice

explanation of column headings,
on first page of tables.

&c., see notes

Osceola & Southern—1st M.($6,000 p.m.)
Detroit Bay City d Alp— 1st.M., g. ($15,000 p. m.)..
Detroit Grand Haven & Milwaukee—Stock
~lst equipment mortgage, guar

Des Moines

Consolidated mortgage, guar
Detroit Hillsdale & S. TV—Stock
'Detroit Lansing & North— Stock, common
Preferred stock

1st mortgage
Ionia & Lansing, 1st mort., coup., may be reg —
Saginaw & West, mort., guar. ($15,000 per mile)..
1st M., Gr. R. L. & D., guar. ($20,0U0 per mile).c*

Dubuque d Sioux

City—Stock

1st mortgage, 2d division
Notes to retire 1st mortg.

(redeem, at pleasure)..
Duluth & Iron Range—1st mortgage

."1 .7

New moi tgage..

gold ($12,000 per mile)
Dunkirk Aliegh. Valley d Pittsourg—lst

cat

lst mortgage,

East Broad Top— lst mortgage,
East Pennsylvania—Stock

mort., gold

registered

lst mortgage
East Tennessee Virginia d Georgia—Common
1st preferred stock (5 per ct. non cum.)
26

preferred stock (5 per ct. non cum.)

1883.

$
317,752
246,234

59
32
53

143
43
....

97

....

90
90
90
30
36
36

1,429
1,429
1,123
c&r 1,123

552
242
....

1884.

1885.

$

$

1880
1883

$1,000
50

1,000

1878
1878

200 &o.
....

....

100
100
500 &c.

....

....

1877
1869
1883
1887
1864
1888
1887
1887

Amount

Outstanding

1,000
1,000

566,000
1,160,000
4,999,950

'

1887
1870
1870
1870
1873

1,000
1,000
1,000

50
100 tfcc.
100
100

1858
....

1886
1880
1870
1887

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

3^
7
8
6
5
1 1-10
7
5
5
5

1,750,000
(?)

12,000,000
10,000,000
4,000,000
2,000,000
1,000,000
200,000

1,000
1,000

....

6
6
2
3

586,000
295,000

....

1,000
1,000

$*■

1,500,000
2,000,000
3,200,000
1,350,000
1,825,600
2,510,000
2,487,000
770.000

Rate per
Cent.
7

$379,000
2,300,000

1,000

100
500 &c.

....

(

2,036,813

Ren’l of D.R.G.W. RR.
Taxes and miscellan’s

Ill
170
189
189
189
65
268
268
222

stock.

Consol, mort., gold (for $20,000,000)
Consol, mort., “Divisional” bonds, gold
c*
Old lst mortgage sinking fund bonds
lst ext. M., g, ($20,0P0 p. m.)for $15.000,000.c&r
Disbursemen Is—
Interest on debt

Date
Miles
Size, or
Par
of
of
Road. Bonds Value.

c&r

Duluth South Shore d Atlantic-Stock
Stock, pref., 6 per cent
2d mortgage
3d mortgage

of any error discovered in these Tables.
INTEREST OR DIVIDENDS.

DESCRIPTION.
For

47

BONDS

AND

STOCKS

RAILROAD

1887.]

J.
J.

A. & O.
J. & J.
F. & A.
F. & A.
J. & J.
J. & J.
J. & J.

11,000,000
18,500,000
11,869,540

4

5 g.
5 g.
7
5 ff.

J.

A.
A.

M.

bonds, $6,000 per mile.

( *520,928

&
&
&
&

do

Office.
Y., Comp’ys Agency.
N. Y.,

New York, Agency.
J.
D. N.Y., N.Y. Cent. & Hud.
do
do
O.
do
do
O.
J. Philadelp’a, Co.’s Office.
J. Phila., by P. & R. RR.
S.
Phila., P. & R. office.

Office, 10 Wall Street.
N. N. Y., Central
do
J.
do
J.
do
D.

Trust Co.

April, 1885, a receiver was appointed.
The road was sold in
(V. 44, p. 10, 308; V. 45, p. 672.)

RR.

$
677,697

1887.

&
&
&
&
&
&
&

Y., John Paton & Co.
do

& J.

....

M.
J.
J.
J.

In

Detroit Ray City Sc
Cent. RR., to Alpena, 105

Stocks—Last
Dividend.
1896
1913

Dec. 31, 1884
Nov. 14, 1918
New York &, London.
Nov. 15, 1913
do
do
N. Y., Farm. L. & Tr. Co July 5, 1887
Feb. 15, 1887
Boston.
do
Aug. 15, 1887
Jan. 1, 1907
Boston, 2d Nat. Bank.
July 1, 1889
do
do
July 1, 1913
do
do

A. & O.
A. & O. N.

1886.

572,364

Whom.

A. & 0. N.

J.
J.

4

3
7

Payable, and by

M. & 8.

J.
J.

500,000

Where

Last paid Jan. 1885.
& J.
& J. N. Y., Farm. L.& Tr. Co

A. & O.

5 g.
7 g.
7
7

1,714,950
495,900
27,500,000

3.106,000
3,123,000
1,000,000

When

Payable

Bonds—Princi¬

pal, When Due,

do
do
do

Sept. 1, 1927
Sept. 2, 1887
July, 1894
Oct.
Oot.

1888
1, 1937

1, 1937

1, 1937
June, 1890
Oct. 1, 1890
Oct. 1. 1890
July 1, 1903
July 19, 1887
Jan.

Mar.

1, 1888

Aug. 1, 1887
Nov.

July
July
June

1, 1956
1, 1930
1, 1900

i, 1937

Stock issued, $500,000;
foreclosure Novomber,

Alpena—(See Map).—From Alger, on Mich.

miles; Loon Lake Branch, 18 in,: Mud Lake
Branch, 20 m.; other branches 27 miles ; total road 170 miles. Has a
1,198,625
572,364
trallic contract from Mich. Central. The mileage operated in 1886 was
2,600,799
Total disbursements..
1,358,775 83 miles: the gross earnings were $242,061; net, $120,420. Stock author¬
1,678,643
132,167
Balance, surplus
ized is $2,000,000, issued $1,670,000. The mort. covers road and equip'fc
-(V. 43, p. 49, 73, 131, 487, 547, 608, 745 ; V. 44, p. 21, 59, 117, 211> at
$15,000 per mile. From Jan. 1 to Sept. 30 (9 mos.) in 1887 gross earn¬
244, 466, 586, 652, 653, 808; V. 45, p. 538, 613.)
ings were $366,373, against $160,666 in 1886; net, $167,764, against
Denver Sc Rio Grande Western (narrow gauge).—The mort¬ $86,478. (V, 43, p. 572; V. 44, p. 308,335, 343, 553, 621; V. 45, p. 85.)
gage covered lines in Utah Territory ot about 469 miles in all, of which
Detroit Grand Haven Sc Milwaukee.—Owns from Detroit*
there were completed to Jan., ’87,312 miles, Colorado State Line to Ogden,
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of
Ut., 312 miles, Bingham Junction to Alta, 18 miles; Bingham Junc¬ the Detroit & Milwaukee which wa^ sold in foreclosure Sept., 1878.
tion to Bingham, 18 miles; P. V. Junction to coal mines 19 miles; other
The bonds were guaranteed by the Great Western of Canada.
From,
coal mines, 3 miles—total, 370 miles. The stock issued on 469 miles is
225,213 )

...

Jan. 1 to Sept. 30, 1887 (9 mos.), gross earnings wrere £161,640 in 1887,
$7,500,000. About $1,000,000 bonds have been issued on road only par¬ against £187,209 In 1886; net, £44,796, against £55,975. Gross
tially completed. In August, 1884, W. H. Bancroft was appointed earnings in 1886, $1,244,033 ; net, $372,773. In 1885, gross, $1,154,receiver of the D. & R. G. W., but discharged in July, 1886.
Bondholders have generally accepted the proposal of August, 1885, 640; net, $314,860.
Detroit Hillsdale Sc Southwestern.—Owns from Ypsilantl,
viz., that the coupons from Sept. 1. 1886, to Sept. 1,1888, inclusive,
shall be paid one half in cash and the coupon of March, 1889, three- Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
fourths cash, full Interest being resumed with Sept., 1889. Scrip bearing in foreclosure Dec. 28, 1874, and this company organized by the bond¬
5 per cent is given for the coupons to 8ept., 1885, and for the portion holders. In Aug., 1881, leased in perpetuity to the Lake Shore & Mioh,
unpaid of those up to Sept., 1889, this scrip may be redeemed at com¬ Southern Co.; the rental is $54,000 per year-4 p. ct. (V. 43, p. 399.)

full, and no dividend on stock can be paid
is $414,000, but under
the plan it was to be $205,689 in 1886, $253,575 in 1887, $263,925 in
1888, $428,283 in 1889, and afterwards $414,000 on the bonds, and 5
per cent on the funding certificates amounting to $67,275 per year,
if all the certificates are then outstanding.
In April. 1886, an agreement was made to work harmoniously with
pany’s option by payment in

till it is redeemed.

The full interest on bonds

Detroit

Lansing

Sc

Northern.—Owns from

Grand

Trunk

June., Midi., to Howard City, Mich., 157 miles; branches—Stanton Juno,
to Big Rapids, Mich., 63 miles; Belding Branch, 1*2 miles; leased, Grand

miles; Lansing to No. Lansing, 1 mile;
miles; total operated, 268 miles. A con¬
solidation, April 11, 1871, of the Detroit Howell & Lansing, the Ionia
& Lansing and the Ionia Stanton & Northern railroads, under the name
the D. & R. G.
of Detroit Lansing & Lake Michigan RR., which was sold in foreclosure
The gross earnings for year 1886 w3re $1,057,093; net, $361,099. Dec. 14,1876, and new stock issued as above. In July, 1883, leased
Rental for rolling stock since July, 1886, has been out of the expenses. the Saginaw & Western and endorsed the bonds.
From Jan.1, to Sept. 30 in 1887 (9 mos.) gross earnings were $824,222,
In June, 1887, sfockholders had the privilege of subscribing at 95 for
against $747 263 in 1886 ; net, $226,539, against $225,978. (V. 43, p. new bonds of the Grand Rap. Lansing & Det. RR., 57 miles, Grand
73, 244, 634, 636; V. 44, p. 59, 60, 91, 211, 466.)
Ledge to Grand Rapids. (See Vol. 44, p. 713.)
Gross earn’s in 1885, $1,228,470; net, $457,199; int., $267,019: div’ds,
Denver South Park Sc Pacific (3 ft.)—(See Map of Union
Pacific).—Denver,Col., to Natlirop, 137 miles; Nathrop to Gunnison, 65 $175,700; surp., $14,480. Gross earn’s in 1886, $1,226,536; net, $498,miles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction, 717; int., $265,985; div’ds, $230,465; sur., $2,267. (V. 44, p. 585, 713.)
15 miles; Como to Keystone, 35 miles; Bear Creek Junction to Morrison,
Dubuque Sc Sioux City—Owns from Dubuque, Iowa, to Iowa
10 miles; Dickey to Leadville, 34 miles; Como to Mines, 4 miles; Falls, 143 miles. The former Dubuque & Pacific was foreclosed in I860,
Schwanders to Buena Vista, 4 miles; total, 322 miles. Stock owned by and present company organized. Leased to Illinois Central till Oct. 1,
Union Pacific is $6,135,100 out of $6,235,400, and consol, mort. bonds 1887, and in April, 1887, the stock was sold to Illinois Central, and the
$2,797,000. The U. P. operates the road, but has made no guaranty of the surplus in hand divided to stockholders. On Oct. 1,1887, the road was
stock or bonds; on May 1, ’87, the interest was defaulted, but paid in July. operated separately, and earnings not included in Illinois Central.
In 1886 grossearn’s, $1,246,538; def. on operations, $46,304; def. under In May, ’87, 5 p. c. in stock of Iowa Land & Loan Co. was paid to stock¬
interest, <fec., $347,804. In 1885 gross earn’s, $1,145,494; def., $16,129; holders. See V. 44, p. 21. (V. 45, p. 472.)
def. under interest, <fcc., $320,869. (V. 44, p. 586, 627, 657; V. 45, p. 25.)
Duluth & Iron Range,—Road from Duluth to Vermilion Lake,
Denver Texas Sc Fort Worth.—(-Sec Map of Ft. W. dt Den, O.)— and branch, 97 miles, ana under construction 30 miles to Chandler
Incorporated iu 1887 to build from Trinidad, Col., to a connection with Mine. Sold to a syndicate in 1887, and in Sept., 1887, a new mortgage
the Fort Worth «fe Denver at the Texas State line, 120 miles, and to was authorized for $3,500,000 to retire prior bonds, for Improvements,
lay a third rail over the Denv. & R. G. from Pueblo to Trinidad. Of and for extensions at $25,000 per mile. Metropolitan Trust Co. of N.
the first mortgage bonds $1,000,000 will be issued to provide for con¬ Y. is trustee of the mortgage. H. R. Bishop, 15 Broad Street, N. Y.,
struction and equipment on the D. <fc R. G. third rail lme Trinidad to President.
(V. 44, p. 653; V. 45, p. 472.)
Pueblo; $200,000 for terminals in Pueblo and Trinidad, and balance at
Duluth South Shore Sc Atlantic— (Sec Map).—This company
$20,000 per mile on new road. Capital stock authorized, $30,060,000;
at judicial sale October 20,1886, the Detroit Mackinac &
issued $5< 0,000. J. T. Granger, Treasurer, No. 1 Broadway, N. Y.
(V. purchased Railroad
and property running from St. Ignace on the Straits
Marquette
44, p. 499 ; V. 45, p. 642.
of Mackinac to Marquette, Mich., 152 miles, tor $1,010,000, and assumed
Denver Texas Sc Gulf,—(See Map of Ft. W. d Den. O.)— Denver to
obligations on such purchase whicli made the whole cost to the D. 8. S.
On March 18, 1886, & A! Company $3,040,000. The D. S. S. & A. Company in December,
Pueblo, 124 miles, and 13 miles branches.
the Denver &
New Orleans
road was sold and this company 1886. bought substantially all thepref. and com. stocks of the Marquette
organized. The company owns extensive terminal grounds in Houghton & Onton. RR. Co., operating 160 miles of railroad, and on
Denver and coal lauds at Frauceviile, which are covered by the Feb. 15, 1887, the railroad and property of the M. H. & O. Co. was leased
first mortgage.
The company has entered into a contract for in perpetuity to the D. S. S. & A. R’way Co. Forty-eight miles of new
consolidation with the Denver'Texas & Fort Worth RR. Co., now road have been constructed from a point near Ilendrie on the old D. M.
constructing, and with the Fort Worth & Denver city RR. Co., now ex¬ & M. east to Sault Ste Marie, where connection is made by bridge now
tending noith, which will form a completed through line from Denver lAug. 1, ’87,) nearly completed with the Canadian Pacific, and with the
to Fort Worth, about 800 miles. The stock issued is in hands of a trus¬ Grand Trunk when it reaches the Sault. The D. S. S. & A- line is under
tee, to be held till the road is built to the Ft. W. & D. C. RR. Jno. construction from a pojnt near Three Lakes on the M. 11. & O. RR. west¬
Evans, Pres’t, Denver. (V. 45, p. 642.)
ward through the Gogebic Iron region, to a junction with the Northern
Des Moines Sc Fort Dodge.—Owns from Des Moines to Fort Pacific 32 miles east of Duluth, Minn., about 180 miles, making a
Dodge, Iowa, 87 miles, with an extension 56 miles to Ruthven, con through line from the Straits of Mackinao to Duluth, of about 400 miles
necting with Chicago Mil. & St. Paul. First 87 miles originally a div¬ in length, and from the Sault to Duluth of about the same length. The
ision of the Des Moines Valley RR., built in 1870 and sold ou
in securities on the new road are $1,000,000 of first mort., five per cent,
1873. Common stock, $4,283,100; preferred, $763,500.
fifty-year gold b< nds, to be issued at the rate of $12,000 per mile (see
In November, 1886, an agreement was made for lease to the Chicago abstract of mortgage, V. 45, p. 274;; $12,0i0,C00 of com. stock and
Rock Island & Pacific, for 19 years at a rental of 30 per cent of the gross $10,Oi 0,000 ot pref. 6 p. c. non-cum. stock.
The D. M. & M. security holders ou the reorganization received D. S. 8.
earnings, with a guarantee of 4 per cent interest ou the 1st mortg. and
A. securities as follows: Each holder of $1,000 of 1>. M. & M. 1st mort.
extension bonds, and 2^ per cent per annum on the incomes, and road
bonds received 6623 p. c. thereof in the D. S. S. <fc A. 5 p. o. bonds and par
was delivered June 2, 1887.
In 1886, gross earnings were $339,610, net, $87,395; surplus over in D. 8. S. & A. pref. stock. Each holder of $1,000 of D. M. <fc M. income
int.,&c., $15,870. In 1885, gross earn’s were $382,420; net, $120,420. bonds received par thereof in D. S. S. & A. pref. stock. Each holder of
Charles E. Whitehead, Pres., 61 Wall St. (V. 43, p. 579,738; V. 44, p. D. M. & M. stock received 60 p. c. of his holdings in D. S. P. & A. com.
stock. Provision was made for the distribution of an amount of D.
117, 308, 494, 681, 751, 808.)
Des Moines Osceola Sc Southern. -Projected from Des Moines S. S. <fc A. com. stock equal to 35 per cent of their par value. Jas.
la., to Kansas City, Mo., 300 miles, of which 111 miles, Des Moines to McMillan, Detroit. President; C. 8. Brice, New York, Vice-President.
HSJM
Cainaville, Mo., is built. In Aug., ’84, consolidated with Wls. Ia. <fe Neb. -(V. 44, p. 275,713,751; V. 45, p. 142,274,600.)




Trunk June, to Detroit, 3
Alma to Howard City, 43

48




INYESTOES5. SUPPLEMENT

[Vol. XLT*




**W».

nr m i i.

INVESTOKS’

30
Subscribers will confer

a

on

Miles
Date
of
of
Road. Bonds

of column headings, &c.,see notes
first page of tables.

9570
112
285

East Tenn. Va.dk Ga — (Coni.)—Ala. Centrist, gd.,op.
Knoxville & Ohio, 1st mort., gold
East dk West Ala. -1st corns. M., gold ($15,000 p. m.).
Eastern (Mass.)—Stock
Preferred stock, 6 per cent
Essex HR. 1st mort. (extended for 5 years in ’86).
Certs, of indebt, part £ (£398,460 at $4*87)
c
Debenture bonds (for $900,000), for refund
Eastern (N. H.)—Stock
Eel River—Stock
Elizabeth. Lex.dkBig Sandy—1st mortg., gold
Elmira Cortland dk Northern—1st pref. M., jgold.c*
1st mort., gold
;
Elmira dk Lake Ontario—Stock
Sodus Bay & Southern 1st mortgage, gold
Elmira dk Williamsport—Stock, common
Preferred stock
1st mortgage bonds
Income bonds, 999 years to run
Erie dk Pittsburg—Stock
2d mort., convertible

....

....

16
94
110
120
120
98
34
77
77
77

'

100

81*2
100
100

Equipment bonds

....

114
54
40
135
146
144
25
55
55

Indianapolis—1st mort., E. & I. gold..

Terre Haute & Southeastern—1st mort
Ev. &, Ind. Cons.M. (for $2,500,000) gold, guar.c*
Evansville dk T. Haute— Stock
1st consol, mort., gold
c*
1st mort., Mt Vernon Branch, gold
Evansville Terre H. dk Chic.—1st M., gold, int. guar..
2d mortgage, gold

Dunkirk

1879

1885
1886
.

.

.

1886
....

Consol, mort. free of State tax (for $4,500*000)...
Eureka Springs—1st M., gold, coup, may be reg
European dk No. American—Stock, guar. 5 per ct—

Evansville dk

1851
1876
1867

Outstanding

$1,000
1,000
1,000

$L,000,000
2,000,000
1,709,000

....

100
100

....

1872
1884

1884

100

500,000

50
50

500,000
500,000
1,000,000
570,000
1,998,400

1860

1,000
500
50.
100&C.

1,000
1,000

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

325,000

....

100

....

1884
1879
1886

1,000
....

1,000
50

....

1881
1883
1870
1872

Allegheny Valley Sc Pittsburg. -Owns from Dun¬ by lessee

paid on pref. stock for two years.

(See V. 44,

p.

119.)

The trustee under the consolidated mortgage of 1886 and the 1st ex¬

tension mortgage of 1887 is the Central Trust Company of New York.

$7,325,000 consolidated bonds were reserved to retire prior bonds of
the Alabama Central RR. and the E. Tenn. Va. & Ga. RR.
From July 1 to Sept. 30 in 1887 (3 inos.), gross earnings (not includ¬
ing Knoxville & Ohio) were $1,249,808, against $1,003,270 in 1886;

net, $445.9 >5, against $393,156.
From July 1 to Sept. 30 in 1887 (3 mos.), gross earn’gs of Knox. & O.

$120,686, against $86,967 in 1886; net, $24,658, against $19,233.

The fiscal year

ends June 30.

The annual report for 1886-87

was

lclude thein
Eublished
the Chronicle,
V. 45. p. 671
and 674. The results do not
& Ohio.
operations
of the Knoxvjlie
INCOME ACCOUNT.

Receipts—
Total gross earnings
Net earnings
Disbursements—
Interest on debt
Dividend on 1st prof, stock
Other payments

1835-86.
$3,778,291
$1,260,744

1886-87.

*

$4,368,180
$1,354,489
$833,343
410,000

Total disbursem’ts

$1,273,313
$81,146
The Knoxville <fe Ohio gross earnings in 1886-7 were $408,517 and
net $152,719. —(V. 44, p. 90, 119, 149, 181, 211. 343, 494, 621, 751; V.
45, p. 53, 271, 272, 304, 400, 564, 613, 671, 674.)
Balance

sur.

East Sc We*t RR. Co. of Alabama.—Road will extend from
Gainesville, Ga., to Birmingham. Ala., and branches, 207 miles, of which
completed to June, 1887,112 miles; an extension of 93 miles is also con

templated. In August, 1887, the road was completed from Cartersvilie,
Ga., to Pell City, Ala , 128 miles. The above bonds were issued iu 1887
to take up $800,000 of prior first mortgage bonds and $500,000 of do
bentures outstanding. Stock (authorized). $2,000,000, issued at the rate
of $10,000 per mile of completed road.
From Deo. 1, 1886, to May 30,
1887 (6 months), gross earnings were $73,500; net earnings, $39,000;
surplus over interi st, $6,000.
E. F. Browning, Pres’t, 403 Broome
Street, N. Y. (V. 44, p. 621; V. 45, p. 211, 240, 573.)
Eastern (Mass.)—Owns from Bos,oii, Mass., to New Hampshire
State Line, 41 miles; branches—Salem to Marblehead, 4 miles; Bever
ley to Gloucester, 17 miles; Salisbury to Amesbury, 4 miles ; Revere
to East Boston, 3^ miles; Peabody to Wakefield, 8 miles;
Salem
to Lawrence, 20miles; others, 22 miles; leased—Eastern RR. of N. H., 16
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51
miles, Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 73
miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles.
In March, 1883, a lease of this road to the Boston <fe Maine was voted
for fifty-five years, but in November, 1884, this lease was decided to be
illegal In some respects, and a new one was negotiated for 54 years

from Oct. 1,1883, on the basis of combining the total earnings.paying
all charges, ami dividing the surplus income as follows : 1. To B. & M.,
$630,000 (9 per cent on its stock); to Eastern, $100,000 for sinking
fund; to B. & M., $70,000; to Eastern, $336,000; balance to bo spent




on

Whom.

J. & J. N.
J. & J.
J. & D.

Dividend.

Y., Central Trust Co
do
do
New York Office.

VI. & S.
M. & S.
M. & S.

Boston.
do
do
Boston and London.

M, & S.

Boston. Office.

4*2
2^4

J. & D.

5

A. & O.

July 1. 1918

July 1, 1925
Dec. 1. 1926
J uly 15, 1873

Sept. 1, 1887
Sept. 15,1891
Sept., 1906
Sept. 1, 1908

Boston, by Treasurer. June 15, 1887
1
Q.-M. Boston, by Treasurer. Aug. 15, 1884
6 g.
M. & S. N. Y., Mills Building.
Mar. 1, 1902
6 g. A.. & O. 115 B’way, New York. April 1, 1914
4 to 5 g. J. & J.
do
do
April 1, 1914
Baltimore, N. Cent. RR.
N. Y. Pa. RR. Agency.
5 g. J. & J
July 1, 1924
M. & N. Phila., Penn. R. R. Co.
Nov. 1, 1887
2*a
J. & J.
do
do
3*2
July 1, 1887
6
J. & J.
do
do
Jan. 1, 1910

91,800

685,000
2,485,000
500,000
2,500,000
699,000
260,000
1,001,000
3,000,000
2,900,000
375,000
775,000

A consolidation of the Dunkirk
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y.
Central & Hudson River Co., but accounts are kept separate. Capital,
$1 ,300,00<>. There is usually an annual deficit below the interest charge,
DUt the N. Y. Central & Hudson River Co. hold $2,920,000 of the securi¬
ties. Gross earnings in 1885-86. $227,494; deficit under operating
expenses, $8,847. Gross in 1884-5, $216,796 ; deficit, $6,769.
East Broad Top (Pa.)—Owns from Mount Union, Pa., to Robertsdale, Pa., 30 miles. A coal road, opened in 1874. The stock is $815,602,
In 1884-85 gross earnings were $89,070; net, $16,003. In L885-86,
gross. $96,066; net, $>,223.
East Pennsylvania.—Owns from Reading, Pa., to Allentown, Pa.
86 miles. It is leased for 999 years from May 1, 1869, to the Philadel’
phia & Reading RR., at a rental of 6 per cent per annum on the stockand interest on the bonds. Austin Corbin, President, Philadelphia.
East Tennessee Virginia Sc Georgia Rail way.—(See Map .)—
Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka, 44
m.; Cleveland to Selma, 264 m.; Selma to Lauderdale, 95 m.: Ooltewah
to Cohutta, 11 in.: Rome, Ga., to Macon, 159 m. (18 miles jointly with
Georgia Pacific); Macon to Brunswick, 190 in.; Cochran to Hawkinsville, 10 m.; total, 1,015 m.; operates Lauderdale to Meridian, 18 in.;
total owned and operated June 30,1887, 1,033 m. Controls the Knox¬
ville & Ohio road, 66 miles, the lines of the Memphis & Charleston RR.,
from Chattanooga to Memphis, Tenn.. 310 m., and the Florence and
Somerville branches, 20 in., in all 396 m., making a total of 1,429 miles.
This company, the E. T. Va. &Ga. Railway Co., was formed.in 1886 as
successor of the E. T. Va. & Ga. Railroad, which was sold in foreclosure
May 25,1886. The first preferred stock is entitled to a non-cutnulaiive
dividend of 5 per cent, and has “ the right for five years (till 1891) to
elect a majority of the Board of Directors of said company, unless be
fore that time the said company should pay out of its net earnings 5
per cent dividends on such preferred stock for two full successive years.”
In January, 1887, a sale was made of $6, >00,000 of the first pref.
stock to the Richmond & West Point Terminal Company thus giving
them control of the road for five years unless dividends of 5 per cent

were

750,000

1863
1865
1870
1868
1883

9 879,814
Nil.

1,000

....

....

194.400

1,250,000
1,500,000

....

6
6 g.
6 g3
3
4 ifl
6 g.

3,149,844

2,792,800
3.282,000

1,000
1,000

Rate per
When
Cent
Payable

4,997,600

492,500

1,000

....

1884

Amount

10O
100
100 <fcc.
500 &c.

....

Bonds—Princi¬
pal, When Due.
Where Payable, and by
Stocks—Last

INTERE8T OR DIVIDENDS.

Size or
Par
Value.

kirk, N. Y., to Oil City, Pa., 107 miles.

are

[Vol. XLV,

great favor by giving immediate notice of any error discovered In these Tables.

DESCRIPTION.
For explanation

SUPPLEMENT

.

1*
7
7
7
6 g.

2**
6 g.

7
6 g-

1^
6
6
6
6

g*
g.
gg.

Q.—M.

Oct.

1, 2862

Sept. 10,1887
Mar.
Oct.

O.
1.
O.
1,
J.
July 1,
A.
Feb. 1,
O. Bangor, Treas. Office.
Oct. 15,
J. N.Y.. Farm. L. & Tr. Co.
July 1,
do
S.
do
Sept. 1,
do
do
J.
Jan. 1,
Oct. 20,
Company’s Office.
Q.-J.
J. & J N.Y.,Farm. L’anA T.Co. July 1,
A. & 0.
do
do
April 1,
M. & N. N.Y.,Farm.L’an <fe T.Co.
May 1,
do
J. & J.
do
Jan. 1.

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

&
&
&
&
&
&
&
&

do
do
N. Y., Union Trust Co.
do
do
do
do
do
do
N. Y., MercantileTr. Co.

both properties pro-rata.

1890

1900
1898
1933

1887
1924
1909
1926
1887

1921
1923
1900
1902

Mortgage notes are $634,300,

secured by real estate.
Iu Nov., 1886, the company offered to issue preferred 6 per cent stock
in exchange for $3,150,000 of certificates of indebtedness, at par, thus
reducing those certificates to $10,000,000, to enable the company to
resume dividends on the common stock, according to the
agreement
under which the cer ideates were issued.
Tne annual report for the year ending Sept. 30, 1887, gives the
following result of operation with Bostou & Maine. Surplus income
divided, in accordance with the terms of the lease, as follows:
To Bos. & M. To Eastern.
Boston & Maine Railroad (9 p. o.)..
$630,000
$

Eastern Railroad,

sinking fund

Boston & M line Railroad (1 p. c.)
Eastern Railroad, balance

100,000

70,000

336.000
$436,000
-(V. 43, p. 579, 634, 671; V. 44, p. 149,184, 275; V. 45, p. 13.)
Eastern (N. H.)—Owns from Portsmouth, N. H., to 8eabrook
(Massachusetts State Liue), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oot. 1, 1878, for 60 years and two months at $22,500 per year, equal to
4^2 per cent per annum. Moody Currier, President, Manchester, N. H.
-(V. 45, p. 612,)
Eel River.—Owns from Logansport., Ind., to Butler, Ind., 94
miles. This was formerly the Detroit Eel River <fc Illinois Railroad,
sold under foreclosure July 6, 1877. A lease of the road from April
1. 1887, was made to Wabash & Western on the basin of 2 per cent
yearly on the s ock till 1892, then 2*2 till 1895 and 3 p. c. thereafter.
Total

Elizabethtown

:

$700,000

Lexington Sc Big Sandy,-(See Map of New¬

port News dk Mississippi Valley.)—Road owned Lexington to Junc¬
tion, near Deuton, 102 miles; A. C. & t. Junction to Big Sandy River,
7 miles; total owned 110 miles.
Leased Junction with A. C. & I. Co.,
near Denton to A. C. &I. June., 21 miles
West Side Big Sandy River to
Huntington, 9 miles; total operated, 139 miles. In November, 1887,
the road between Maysville and Ashland was taken in by consolidation.
From Feb. 1, 1886, this road was leased for 250 years t > the Newport
News & Miss. Valley Co. on the basis of payiug the annual net surplus,
if any. to tiiis company. Authorized capital is $5,000,000.
Amount
issued $3,509,695. From Jau. 1, 1887 to Sept. 30 (nine mouths), gross

earnings

were $794,484, against $676,152 in 1866; not, $276,908,
agaiust $235,178. For year 1886 gross earnings were $917,529; net,
$333,616; rentals and taxes, $48,266; interesr, $L96,920; surplus, $24,970.
(V. 44, p. 90, 343, 344; V. 45, p. 612.)
Elmira Cortland Sc Northern.— Elmira. N. Y.t to Hanastota, N.
Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to
De Ruyter, 20 miles, are leased for 499 years.
Organized May
11,1878, as successor of the Utica Ithaca & Elmira RR. Co., foreclosed
April 30, 1878. Again sold in foreclosure Feb., 1884, and re organized
as at present.
The 1st more, for $1,250,000 bears 3 p. ot. for 3 years, 4
p. ct. for 2 years, then 5 p.ct.
Stock is $2,000,000. Gross earnings in
1885-66, $369,265; net income, $29,931; interest, taxes, &c., $66,812;
def., $36,882. Austin Corbin, President, New York City.
Elmira Sc Lake Ontario.-Owns from Canandaigua, N. Y., to
Watkins, N. Y., 47 miies; to Chemung Junction, 17^ miles; Sodus
Point to Stanley. 34 miles—total, 98 miles. This company was a con¬
solidation in December, 1886, of the Elmira Jefferson & Canaidaigua,
the Sodus Bay & Southern and the Chemung Railr >ads, with st >ek and
bon Is as above.
It is leased at cost of operating to the Northern Cen¬

tral, which controls the stock.

Elmira Sc
tVllllamsnort.—Owns rroin Williamsport, Pa., to
Elmira, N. Y., 77 miles.
This company was reorganized under the
present name Feb. 29, 1860, aud leased to the Northern Central Rail¬
way for 999 years from May 1, 1863, at a rental of $151,500 per annum
after Jan. 1,1880. The dividends on the common stook are 5 percent
aud on the preferred 7 per cent., Gross earnings in 1884-5, $744,685 ;
net, $273,730; surplus to lessee, $95,372. Gross earnings in 1885-6,
$765,559; net $226,008; surplus to lessee, $47,818.
Erie Sc Pittsburg.—owns from New Castle, Pa., to Girard, Pa.,
82 miles; branch. Dock Jnuction to Erie Docks, 3 miles; leased—
Girard to Erie, 15 miles; total operated, 100 mdes. Road opened in 1865rt was leased to the Pennsylvania RR. for 999 years from March 1,
L870, at a rental of 7 per cent on stock and interest on the bonds,
and the lease was transferred to the Pennsylvania Co. The lease has
been quite unprofitable to the lessees; the deficiency pai l by them in
1881 was $233,522; in 1882, $207,651
in 1883. $260,071; in 1884,

$307,841; in 1885, $354,63 i; an i iu 1886, $225,794.
Eureka'Springs.—Road extenls from Seligman, Mo., to Eureka
Springs, Ark., 18 ba miles; projected to Harrison, Ark., 50 miles beyond.
The capital stock is $500,000. There are also $500,005 non-cumulative 6 per cent Income bonds. There is a traffic contract with St. Lulls
<fc San Francisco, by which 15 per cent of freight earnings and 10 per
cent of passenger earnings on business over that road are paid to this
company. R. C. Kerens, President, St. Louis, Mo.
(V. 45, p. 373.)
European Sc North American. — Owns from Bangor, Me.,
to Vauceboro (State Line), Me., 114 miles.
On Aug. 31, 1882, a lease
was made to the Maine Central for 99 years, for $125,000 per annum,
equal to 5 per cent per anuimi on the stock, and assuming the bonded
debt of $1,000,000, whioh is given under Maine Central.




Subscribers will confer a great

flavor by giving Immediate
Miles

explanation of column headings, Ac., see notes
on first page of tables.

38i*

Railway dk Nav — F. C. A W., 1st
Florida Transit—1st mortgage
Peninsular of Florida—1st mortgage

361
302
17
65
234
155
50
530
24
180
81
10
26
45
97
97
128
342
28
256
226
671
671
50

mort., gold

gold

Fernandina & Jacksonville
Florida Southern—1st mortgage, ($12,000 per mile)
Char. Har.Div.,lst,g. ,pay’le at 110, $ 10,000 p.in. c*

Fonda Johnstown dk Gloversville— 1st

mortgage

Consol, mortgage
tort Madison <& Northwestern—1st

mort., gold
Wayne dk Jackson—Pref. stock, (8 per cent) —

Fort
Common stock
Fort Wayne Cincinnati dk Louisville—Stock
Fort Worth dk Denv. City—1st M., gold

c*

Frederick dk Pennsylvania Line—1st mortgage
Galveston Harrisb.dk S.Antonio—1st mort, gold, 1. gr.

2d mortgage
Western Division, 1st mortgage, gold
do
do
2d mortgage
Galveston Houston dk Hend. of 1882—1st mort.,guar

Evansville Sc Indianapolis.—Owns

'74-’87
1,000
100 Ac.
1873
1875
1875
1883
1,000
-

-

•

^

.

1880
1868
1871
1882
1881
1876
1884
1883
1883
1885
1870
1880
1880

•

•

•

1,000
1,000

1,000
1,000
1,000
1,000
1,000
100 Ac.
100 Ac.
100 Ac.
100 Ac.
500Ac.

m

m

.

«

•

•

1881
1870
’71-’80
1880
1881
1881
1833

1,000

6.354,000

1,000

2,000,000

m

m

m

m

m

m

m

1,000
500 Ac.

3
the branch
Oct.,’85,
Evansville

reserved to meet prior liens.

Evansville & Terre
1 to Aug. 31 in 1887
$121,306 in 1836; Det,

Evansville Sc Terre Haute.— Owns from Evansville, Ind., to
Terre Haute, Ind., 109 miles; Ft. Branch to Mt. Vernon, 37 miles; New

Pittsburg branch, 10 miles; total operated, 156 miles. The Rockville
Extension, 23 miles additional, is leased to the Terre Haute A Logansport for 99 years from Nov. 1, 1879. Formerly the Evansville A Crawfordsville RR. Co. The 20 per cent stock dividend of 1834 was the dis¬
tribution of $500,000 which had been held for some time in the treasury.
The bonds fallingdue in Nov., 1887, were paid off or exchanged for con¬
solidated bonds at 116. Annual report for 1886-7 in V. 45, p. 537.
Gross earnings year ending Aug. 31, 1887. $831,771; net. $403,190;
surplus over all interest and dividends, $6,5^3.
In 1885-6, gross.
$764,157; net, $388,977. (V. 43, p. 458, 486; V. 45, p. 26, 53 7, 538.,
Evansville Terre Haute Sc Chicago.—Owns from Terre Haute
Junction, Ind., to Danville, Ill., 49 miles; leased, 6 miles; total operated,
55 miles. It uses 6 miles of the track of the Rockville Extension into
Terre Haute; also, leases the Indiana Block Coal road, 15 miles. On
April, 30, 1880, a lease to the Chicago A Eastern Illinois was made for
999 years; terms, $75,000 per annum and the assumption by the C. A E.
T. of all rentals and taxes paid by E. T. H. A C.
The bonded interest
reduced to 6 per cent and preferred stock
overdue coupons; common stock, $600,000.
dent, Terre Haute. Ind.
was

801.500
300,000

1,000
1,000
1,000

m

from Evansville, Ind., to

(V. 45, p. 26, 509.)

1,000,000
250,000
4,042,000
380,000
2,121,000
200,000
320,000
2,287,832
431,747
4,000,000
6,788,000
250,000
4,756,000
1,000,000
13,418,000

The consolidated bonds are guaranteed by the
Haute Co. Capital stock, $2,000,000.
From Jan,
(8 mos.) gross earnings were $153,697, against

$64,114, against $64,843.

300,000
1,000,000
2,808,000

500 Ac.

m

m

for $100,000 issued for

Josephus Collett, Presi¬

Rate per
Cent.

$7,000,000
2
13,794,600
3 to 4
5,000.000
7,790,600 4,41*5 67
5 A 7
391,000
3
186,300
6
57,300
5
1,400,000
3
6,500,000
6 g.
3,999,000

$100

Terre Haute, Ind. (via Worthington), 135 miles; branch to Lancaster,
m.; to Brazil, 12 in.; total, 150 miles.
In Oct., 1887, leased
Brazil to Saline City, 20 miles. This Co. was a consolidation in
of three corporations, viz.: the Evansville & Indianapolis, tlie
Wash. A Brazil and the Terre Haute & Southeastern railroads. Of the

consolidated mort. bonds, $1,260,000 are

Outstanding

....

...

sink, fund, guar.

Florida

Par

....

Marquette—Preferred stock
Reorganization mortgage, gold ($5,000,000)

Fla.Ry.A Nav., consol, mort.

notlee of any error discovered In these Tables.

Amount

Value.

370

Flint dk Pere

RR
Holly Wayne A Mon., 1st rnort.,

Size, or

Date
of

of
Road. Bonds

Fitchburg— Common stock
Preferred 4 per cent stock
Bonds to State of Mass. (3 p. ct. int. till 1891.)...
Bonds, coupons
Boston Barre & Gardner, 1st mortgage
do
2d mortgage
do
3d rnortg. (convertible into stock)
Best. Hoosac Tunnel A West, debenture bonds...
Flint & Holly

[Vol. XLV.

Bonds—Prinolpal, When Due.
Where Payable, and by Stocks—Last

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

SUPPLEMENT.

INVESTORS’

52

10
8
5
6
7
6
6
6
6
7
6
7

When

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

g-

g.

m

m

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

g.

A.

J.
A.

g.

A.

M.

Bostsn, Office.

do
do
do
do
J.
do
do
J.
S.
J. N. Y„ Mer. Ex. Nat. Bk.
do
do
0.
N. N.Y.. Merch. Nat. Bank.
do
do
J.
J. Last paid, Jan., 1885.
S. Last paid, March, 1885.
J. Last paid. Jan., 1835.

J.
J.

O.
J.
O.
O.
S.

Dividend.
Nov.

15, 1887

1937
1894 to 1907

April 1, 1893
July 1, 1895
July 1, 1895
Sept. 1, 1913

July 15, 1887
Oct. 1, 1920
May 1, 1888
Jan.

1, 1901
1922
1911
1906

April 1,
Mar. 1,
May 24,
Last paid, July, 1885.
July 1,
Last paid, Jan., 1885.
July 1,
Boston, Office.
July 1,
Oct. 1,
do
N. Y„ St. Nich. Nat. B’k. July 1,
do
do
May 1,
Last paid April, 1833.
April 1,
N Y.,Farmers’L.ATr.Co
Sept. 1,

1924
1923
1923
1925
1900
1921
1905
1887

....

m

6 g6
6 g.
7
5 g.
6
5

A
A
A
A
A
A
A

Boston, Office

N.
A.
O.
O.

Q.-J.
J.
J.

2\
m

Wnom.

Payable

A
A
A
A
A
A
A. -A

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

D. N. Y., Mercantile Tr. Co.
O. Pennsylvania RR. Co.
A. N.Y., South. Pacific Co.
do
do
D.
do
do
N.
do
do
J.
New York.
0.

Dec. 1, 1921
Oct. 1, 1900
Feb. 1, 1910
June 1, 1905

May 1, 1931
July 1, 1931
April 1, 1913

Florida Railway Sc
Navigation.—Miles owned in
Jacksonville to Chattahoochee, 209 miles, and branches from
hassee to St. Marks, 21 miles; and from Drifton to Monticello,
Fernandina south, 179 miles; Waldo to Cedar Keys, 72 miles;

1886:
Talla¬
4 m.;
Wild¬

wood to Leesburg, 23 miles;
Hart’s road to Jacksonville, 25 m.:
total, 532 miles. In June, 1887, opened the extension to Plant City,
In March, 18s4, the Florida
making a short route from Jacksonville.
Central A Western, Florida Transit A Peninsular, Fernandina A Jack¬
sonville and the Leesburg A Indian River railroads were consolidated
under this name. In Oct., 1885, a receiver (Mr. H. R. Duval) was ap¬

pointed for the whole property, and in November, 1837, sale was to
made, but was postponed to Feb., 1838.
B. S. Henning. Pros’t, N.
City. (V. 44, p. 494, 808; V. 45, p. 642.)

be
Y.

(Narrow-gauge).— Owns from Pa’atka, Fla.Tto
R iclieile to Leesburg to Brookville, 1<)6 in.; Bartow
to Charlotte Harbor, 81 m.: Leesburg to Astor, 50 in.; other Branches,
23 m ; total owned, 310 miles. Capital stock, $10,000 per mile. Tkere
are also $285,000 bonds of the St. John A Lake Eustis RR., 50 m., guar¬
anteed by this Co. Company has a State land grant of 13,840 acres per
mile. The proceeds of lamfsales go to purchase Charlotte Harbor Div.
bonds at 110. J. W. Candler, Pres., Boston.
Florida Southern

Gainesville, 50

Fonda

m.;

Johnstown

Sc

Gloversville.—Owns from Fonda to

Northville, 26 miles.
The stock is $300,000. Gross earnings in
1885-86, $163,664; net, $76,325; surplus over all charges and 10 per
cent dividend, $13,316.
Gross earnings in 1884-85, $160,324; net,
$68,563; surplus over charges and 98j per cent dividend, $3,384. W.
J. Heacock, President, Gloversvillc, N. Y.
Fort Madison & Northwestern.—Narrow gauge road from Fort
Madison, la., to Collett, la., about 45 miles. Stock, $425,600. Default
on bonds was made October, 1834, and on June 30, 1885, a receiver took
possession, and it was proposed to issue new bonds and make a reorgan¬
ization, but nothing was done and on order of sale in foreclosure is

Fitchburg.—Owns from Boston, Mass., to Fitchburg, Mass, (double
the U. 8. District Court. C. A Gilchrist, Receiver,
miles; from Greenfield to Massachusetts Stare line (double expected soon from
Iowa.
track). 44 miles; and B. Barre A Card. RR., Worcester to Winclien- Fort Madison,
don, 36 miles; branches—Charlestown, 1 mile; North Cambridge
Fort Wayne Sc Jackson.—Owns from Jackson, Mich., to Fort
to
Waltham, 8
miles; South Acton to Marlborough, 12 miles; Wayne, Ind, 97 miles. The former Fort Wayne Jackson A Saginaw made
Peterborough A Shirley, Ayer, Mass., to Greenville, 24 miles; Ashburn- default on its bonds and was sold in foreclosure Dec. 3, 1879. On Sept.
ham branch, 3 miles; leased ami operated—Vermont A Mass. RR.,
1,1882,leased perpetually'to Lake Shore A Mich. Southern at a rental of
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles; Troy $126,027, equal to 5^ per cent on the pref. stock, and after 1887 any
A Boston RR., Massachusetts State line to Troy, N. Y., 41 miles, and net
earnings over 8 percent on pref. stock to be paid as dividend on
branches, 5 m.; Boston IIoo*ac Tunnel A West., Mass. State line to Rot¬ c nnmon stock, but not exceeding 2 per cent a year.
terdam, 61 m., and branches, 26 in.; total to Sept. 30, 1886,"370 miles.
The present company was formed by consolidation in 1887 of the
Fort Worth Sc Denver City.—(See Map)—From Fort Worth, Tex.,
Fitchburg RR.. Troy A Greenfield RR. and the Hoosac Tunnel, the latter northwest, to Quanali, Tex., and .beyond, 245 miles; has been completed
purchased from the State of Massachusetts (See V. 41, p. 59.1 A con¬ to 106 miles west of Quanali, but not yet in operation. Stock, $20,000
tract for the purchase of the Troy A Boston railroad was also made of
value of shares, $100. Total stock author¬
which the terms were mentioned in V. 44, p. 544. The Hoosac Tunnel per mile, $6,400,000; par
ized, $20,000,000. Bonds were authorized at $25,000 per m. for the 200
Dock A Elevator Co. was taken in also for $1,512,500 of the Fitchburg
miles to near Quanah, but bey'ond that point to be issued at $16,000 p. in.,
stock, and the Boston Hoosac Tunnel A Western road was purchased making the whole road average $18,000 per mile. They'were actually
for $3,600,000 preferred stock and $2,000,000 common stock, subject
issue l at the first rate only to Harrold, 144 miles ; beyond at $16,00;)
to debenture bonds amounting to $1,400,000.
per mile. See abstract of mortgage, V. 45, p. 410.
Trustee of mortgage
The stock Nov. 15, 1887, was given as above and total funded debt
is the Mercantile Trust Company of New York
The road is under con¬
June 30,1887, $16,540,000. An approximate estimate of the compands struction to the
State line to form a .junction with the Denver Texas &
situation was in V. 45, p. 178, and the balance sheet ot June 30, 1887,
Fort Worth, and thereby constitute a throiurh line from Denver via Fort
on p. 401.
The fiscal year ends Sept. 30.
Worth to Galveston and New Orleans. Gross earnings year ending Oot.
-(V. 44, p. 59,119,148, 421, 434, 494, 544, 681; V. 45, p. 178, 239,400.) 31, 1886, $423,130; not, $175,074 ; fixed charges. $165,000 ; surplus,
Flint Sc Pere Marquette.—Owns from Monroe, Mich., to Lading
$10,074. From Nov. I, 1836, to Sept. 30, 1337 (11 months), gross earnton, Mich., 253 miles; branches—Bay City to East Saginaw, 12 mgs were $584,639, against $361,770 in 1835-6; net, $257,116, against
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch, *1>’8,326. Morgan .Tones, Pres., Fort Worth.—(V. 44, p. 60, 90, 184,
5 miles; Harrison branch,
30 miles; Manistee branch, 26 miles; oil, 308, 392, 400, 43 4, 499, 526, 551, 681, 80S; V. 45, p. 25, S5, 142,
Saginaw A Mount Pleasant Railroad, 15 miles; total operated, l66, 272, 342, 437, 440, 575, 642.)
362 miles.
The road was sold August 18, 1880, under the consol¬
idated mortgage, and reorganization was made. The common stock of
Frederick Sc Pennsylvania Line.—Owns from Kingsdale to
$3,500,000 lias no present right to vote or to receive dividends, and Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which
will be issued only after the preferred stockholders have received 7
pays interest on first mortgage. Preferred stock held by Pennsyl vania
per cent yearly dividends for five consecutive years.
The preferred RR., $461,000; common stock, $318,100 ; floating debt, (coupons, Ac.),
stock is not cumulative, and after 7 per cent per annum is paid on both $184,645. Gross earnings in 1886, $53,312; net, $1,975.
Charles E.
track), 50

classes of stock, the balance of income, if any, is to be divided ratably.
In 1886 the common stockholders took steps looking to the relief of
their stock from its onerous limitations, owing to tlie payment of divi¬
dends on the preferred stock at 7 per cent for a few years and then
at a reduced rate.
On Jan. 1. 1887, the land notes (principal and interest) on hand for
lands sold were $285,582, and lands yet unsold 89,044 acres.
The
total amount of cash collected in 188G was $173,818.. Annual report for
1886. in V. 44. p. 550. Earnings and operations for four years past were;
INCOME ACCOUNT.

18S3.

Total disbursem’ts.
Balance for the year.

1886.

2,If 0,771
649,669

•$
2,252,933
737,527

$
1,946,790
593,950

318,623
455,000

337,223
455,000

329,499
260,000
4,226

773.623

792,223

sur.

33,803 def. 54,696

-(V. 43, p. 49; V. 44, p. 117. 434, 526. 5 50;


P }


1885.

2,542,943
807,426

$
Gross earnings
Net earnings
Disbursenioits—
Interest on debt
Dividends
Miscellaneous

1884.

593.725
sur.

V. 45,

5,225
p.

613.)

$

*322,910
325,000
047,H1 o
1,759

sur.

Trail, President, Frederick City, Md.

Galveston Harrisburg Sc San

Antonio.—(See Map of

Southern

Pacific.)— Owns from Houston, Texas, to Sau Antonio, Texas, 217 miles
LaGrange Extension, 28 miles; Harrisburg to Pierce Junction, 8 miles;
leased, Harwood to Gonzales, 12 miles; total, 266 miles. Western Ex¬
tension, San Antonio to Rio Grande River, connecting with Southern
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten¬
sion, 661 miles. Grand total, 936 miles.
The capital stock outstanding on the whole road is $27,034,372.
1st mort. covers 256 miles of old road and 1,500,000 acres of land. It
has a sinking fund of 1 per cent, but it is optional with bondholders to
surrender their bonds, if drawn. There is also $207,162 Texas school
debt outstanding.
In June, 1881, a large interest in the stock was

The

bought by Southern Pacific parties. The mortgages on the MexicanPacific extension cover 636 miles of road, from San Antonio to El
Paso, and the Eagle Pass branch, 35 miles—671 in all.
On Fe6. 10, 1885, this property was leased for 99 years to the Southern
Pacific Company, the lessee agreeing to pay interest on the debt, anu
a further sum equal to 16 *4
per cent of the net profits on the whole
Southern Pacific system.

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SUPPLEMENT

INVESTORS’

Immediate notice of any error discovered in these Tables.

Subscribers will confer a great favor by giving:

on

first page

Miles

Geneva Ithaca A Sayre—1st M., (for $1,500,000)...r
Ithaca & Athens, 1st mort., s. f., gold
c

35
98
313
202
307

Georgia Midland A Gulf— 1st M. g,($15,000j?. m.) .c*

Georgia Pacific— 1st mort., $10,000 per mile
2d mort., income, cumulative ($15,000p. m.)....

Georgia Railroad A Banking Go.—Stock
Bonds, not mortgage
Bonds, not mortgage ($300,000 mature in 1922)..
Bonds, not mortgage
Grand Rapids A Indiana—Stock
let mort., land grant, gold (guar, by Pa. RR)./...
1st mort., gold, ($675,000 are land grant)

599
367
367
367
367
42
219
219

Gulf Colorado A Santa Fe—1st M., g. ($12,000 p.m.) 1,002
2d mortgage ($8,000 per mile), gold
1,002
Gulf A Ship Island— 1st mort.. gold
c*

295
292
292
15
53
54
54

Hannibal A St. Joseph—Common stock
Preferred stock (7 p. c. yearly, not cumulative).
Consolidated mort. (for $8,000,000)
Bonds Quincy & Palmyra RR

1883).

'38

Harrisburg A Potomac—1st mortgage, coupon

Hartford A Connecticut Western—Stock
1st mortgage
Housatonic—Stock
Preferred stock, 8 per cent, cumniative

Size, or

1885
1870
1886
1882
1883

Amount

Par

Outstanding

Value.

108
104
164
1

164

$750,000
600,000

$1,000
lOO&c.

1,470,000
3,173,000

1,000
1,000
1,000

3,901,000
4,200,000
100,000
2.300,000
200,000
4,985,081
3,934,000
1,441,000
2,700,000
3,217,000
750,000

100

1,000

Six per cent mortgage
Consol, mortgage for $13,000,000, coup, and reg.
Mortgage (gold/ on Muskegon Division
Green Bay Winona A St. Paul—1st mort. coup
Funded coupon bonds
2d mort. income bonds, reg.. non-cumulative

Bonds Kansas City & Cam. RR
Harrisb. Portsm’th ML Joy A Lane.—Stock
1st mor., registered (extended 30 years in

Date

of
of
Road. Bonds

headings, &c., see note8

of tables.

77&80

1,000

1887

1,000

1869
1869
1884
1884
1886
1881
1886
1881
1879
1885
1887

1,000
1,000
1,000

100

1.000

1,000
1,000

1,600,000

280,830
3,781,000
11,724,000
6,000,000
<?)'
9,168.700
5,083,024
6.643,000

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

1881

1,000

433,000
1867
1853
1874

50
500 &c.
100 &c.

1883

1,000

100

100
100

...»

1,076,000
1,182,550
700,000
507,200
2,550,200
610,000
820,000
1,180,000

109 in 1886. The annual report was
income account for two years were:

in V. 44, p. 750.

Gross earnings
Operating expenses
.......

......

Rental received from T. <Sc P. R. R
Total surplus
Taxes
Additions and betterments
Interest on bonded debt
Interest on State of Texas debt
Old claims
Total payments
Balance

1885.

$2,599,462

$3,199,077

2,322,423

1,704,970

$277,039

$1,494,107

54,900

54,900

$331,939

$1,549,007

51.771
83,168

1,402,886
27,44 3
20,546

$1,585,814.

def. $1,253,877

61,555
68,444
1,384,245
14,965
19.601

$1,548,810
sur.

$196

—(Y. 44, p. 344, 750.)
Galveston Houston Sc Henderson of 1882,—Owns from Gal¬
veston, Texas, to Houston, Texas, 50 miles.
The road was sold in fore¬
closure Dec. 1, 1871, and again Aug. 1, 1882. It is now leased for
99 years, to the International & Great Northern Railroad Company and
bonds guaranteed by that company.
Stock of the new company is
$1,000,000. In 1886 gross earnings were $401,031; expenses, $395,355;
net, $5,676; interest and taxes, $118,467.—(Y. 44, p. 400.)
Geneva Ithaca Sc Sayre.—Owns from Geneva, N. i., to Sayre,

Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles;
Hayt’s Corners branch (leased), 3 miles; total operated, 116 miles;
Organized October 2, 1876, as successor of the Geneva Ithaca &
Athens Railroad (sold in foreclosure September 2, 1876), which had
been formed by consolidation of the Geneva'& Ithaca and Ithaca &
Athens railroads, May 25,1874.
In 1880 absorbed the Cayuga & South.
RR., 37 miles. The com. stock is $1,275,000; pref., $400,000; preferred
stock is 8 per cent, cumulative. In year ending Sept. 30, 1887, gross
earnings were $124,454; net, $28,160; deficit under Interest, $60,754.
In 1885-86, gross, $412,128 ; net, $46,122; interest payments, $81,630;
deficit, $35,507.
Georgia midland Sc Gulf.—Road built from Columbus, Ga., to
McDonough, 98 miles. Stock, $12,000 per mile. N. Y. office, 7 Nassau St.
Georgia Pacific.—(Sec Map of Richmond A Danville.)—Atlanta,
Ga., to Starkville, Miss., 316 miles; Greenville, Miss., to Jolmsonville
and branch (N. G.). 52 miles; total, 368 miles.
The Georgia Pacific has
been built by Richmond & Danville Extension Company, and oper¬
ated in the R & D. system. TheR. & D. g(ves a traffic guarantee of 20
per cent on joint business to pay coupons if needed, but the coupons
may be held as a lien. The capital stock is $7,000,000. Interest on
income bonds is cumulative, but it is convertible into income bonds.
Gross earnings year ending Sept. 30, 1886, were $784,811 and net,
$221,042. There are $279,802 car trust notes. The annual report was
in V. 43, p. 745.—(V. 43, p. 334, 745 ; V. 44, p. 499.)
Georgia Railroad Sc Ranking Co.—Augusta, Ga., to Auanta,

Whom.

Payable

6
7 g.
6 g.
6
6

J.
J.
J.
J.
A.

7
6
5

T. & J.
J. & J.
J. & J.

&
&
&
&
&

J.
J.
J.
J.
O.

Dividend.

Phila., Company’s office.
do

Jan., 1910
July 1, 1890
July 1, 1926
Jan. 1, 1922
Oct. 1, 1923
Oct. 15, 1887
Jan. 1, 1890
’97,1910,1922
Jan. 1, 1922

do

N. Y„ Central Trust Co.
N. Y., Central Trust Co.
N. Y.,Metropol’nTr. Co.

Q.-J. Am.Ex.Bk., N.Y.,&Aug

g.
g.

g.

g.
g.
g.

&
&
&
&
&
&
&
&
&
A. &
J. &

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

do
do
do

do
do
do

...

....

7
7
6
5
5
6
6
8
7
6
6

J. N. Y., Winslow, L. & Co.
O.
do
do
do
do
N.
do
do
S.
do
do
J.
’
A. N.Y.Farmere L.&Tr.Co:
do
do
A.
None ever paid.
N,
j
J. N. Y.. Nat .City Bank.
do
do
O.
N. Y., Agency.
J.

Oct. 1, 1899
Oct. 1, 1899
Nov. 1, 1899

Sept: 1, 1924
July 1, 1926
Feb. 1, 1911
Aug. 1, 1906
May 1, 1911

July 1, 1909

Oct, 1, 1923

Jan.

1, 1927

....

3
5 &6
8
10

3i*
4
7

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

li*
5

&
&
&
&
&
&
&

A. N. Y., Company’s Office
S. N. Y., Bk.of No. America.
do
A.
do
do
do
J.
J.
Phila., Co.’s Office.
do
do
J.
J. Phila., Third Nat. Bk.

Feb. 15,1883
Mar. 1, 1911
Jan. 1, 1892
Jan. 1, 1892

July 10, 1887
July 1, 1913
Jan. 1, 1904
Dec. 1, 1882
July 1, 1903

....

J.

& J.

Hartford.

....

3

....

Bridgeport, Office.

: Jan. 10, 1887

INCOME ACCOUNT.

Earnings and

1886.

When

Rate per
Cent.

From January 1 to Sept. 30 in 1887 (9 mouths), gross earnings were
$2,385,558, against $1,920,582 in 1886; net, $380,337, against $240,-

Net

Bonds—Princi¬
pal,When Due,
Where Payable, and by Stocks—Last

INTEREST OR DIVIDENDS.

DESCRIPTION.

For explanation of column

[Yol. XLV.

.

earnings
earnings

Gross

Net
Total disbursemts...

1883.
$

1884.

1885.

1886.

$

$

$

2,361,605
640,098

2,116,299

2,098,127
760,593

533,070

567.602

1,946,143
603,715

613,720

744,413

-

746,406

Balance
sur. 107,02,8
sur. 46,118 def. 140,698 sur. 14,187
—(V. 43, p. 245, 398, 515, 634 ; V. 44, p. 22, 184, 235, 300, 434).
Green Bay Winona Sc St. Paul.—Owns from Green Bay. Wls.,
to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
1881 of the Green Bay & Minnesota, which company made default and
the road was sold March 12, 1881. Preferred stock is $2,000,000, and
entitled to 7 per cent when earned, and common stock $8,000,000,
both stocks $100 shares. On Feb. 1,1885, default was made on the first
mortgage interest, and the trustee of the mortgage took possession, and
in 1886 bondholders consented to fund the three overdue coupons and

resumed payment of interest on August 1.
For
earnings were $ 103,190: net, $33,043, ; taxes and inter¬
est, $102,586. In 1885-86, gross, $314,470; net, $39,052. Samuel Sloan,
President, New York. (V. 43, p. 96, 368.)
Gulf Colorado Sc Santa Fe.—(See Map)—Mileage as follows: Gal¬
veston to Gainesville, 420 miles;
Alvin to Houston, 24; Somerville to
Conroes, 71; Temple to Coleman and Bollinger, 196; Cleburne to Honey
Grove, 132; total, 833 miles. Road was sold and reorganized April 15,
the company
1884-85 gross

1879.
In July, 1885, the old second mortgage at $13,000 per mile was retired
and canceled and the new second mortg. at $8,000 per mile was issued.
In April, 1886, the stock of this company was exchanged for the stock
of the Atchison Topeka & Santa Fe RR. Co., and the two properties thus
consolidated. See V. 42, p. 630. An abstract of both mortgages was
given in V. 45, p. 241.
For the year 1885 the gross earnings were $1,916,96 1; net, $517,293.
For the year 1886 the earnings and income account were as follows on
an average mileage of 66 > miles operated:
Gross earnings, $2,556,461 ;

net, $672,858; other receipts, $236,282; total net, $909,141; interest,
$762,660; taxes, &o., $73,776—$836,436; surplus. $/2,7<>5. (V. 43, p.
23, 245, 399, 619; V. 44, p. 21, 204, 495, 526, 551, 553, 751; V. 45, p.
241, 342.)
Gulf Sc
west of

Ship Island.—This road is under construction 2hi miles

Mississippi City to a junction with the Memphis A Charleston
.just beyond the Mississippi line. The total length of the road, as pro¬
jected, is 350 miles, of which 60 miles from Middleton, Term., to Ponto¬
toc, Miss., is completed, and about 77 miles to connect with the New
Orleans & Northeastern at Hattiesburgh is expected to be finished by
Jauuary, 1888. The 1st mortgage is for an authorized amount of
$4‘20 *,090, issued at $12,000 per mile; the 2d mortgage bonds for
$2,800,000 are issued at $8,000 per mile.
Hannibal Sc St. Joseph.—Owns from Hannibal, Mo., to St. Josepn,
Mo., 206 miles; branches—Cameron to Kansas City 54 miles; St. Joseph
to Atchison, Kans..2i miles; Palmyra to Quincy III., 14 miles; total,
operated.
295 miles.
Ga., 171 miles; branches to Washington and Athens,60 miles; WarrenThe Bridge across the Missouri River at Kansas City is owned.
ton, Ga.,to Macon. Ga., 76 miles; total owned and operated, 307 miles. The
company received $3,000,000 in bonds from the State of Missouri,
The Western Railway of Alabama is controlled jointly with the Central
which loan was repaid in cash in June. 1881, but litigation followed*
RR. of Georgia, this company holding one-half the stock of $3,000,000.
The U. S. Circuit Court decided the further sum of $476,049 to be due
The Macon & Augusta RR., 76 miles, is owned by this company. The
the State, and the case is yet pending on appeal.
Port Royal 6c Augusta RR. is owned oue-tifth part by this company ;
In May, 1883, 90,000 shares of oommon stock and a large amount
the Atlanta & West Point thirty-five one hundredths by this company.
of preferred were sold to the C. B. & Q. RR. Co. at 45 for the oommon
In April, 1881, a lease for 99 years was made to W. M. Wadley and
and par for the preferred, payable in C. B & Q. 5 per cent bonds at par.
associates, for the Central of Georgia and the Louisville & Nashville
Preferred stock has prior right to a non-cumulative dividend of 7 per
railroads, at $600,000 per year, pry able semi-annually, and dividends
cent; then common to 7 ; then both share. Fiscal year ends Dec. 31.
are 2*2 percent quarterly; the deficit to these companies in 1884-85
Annual election occurs in November.
The income accounts have
the lease

$98,599.

In 1886-87 net income from all souroes
a surplus of $78,343 above all
charges, including 10 per cent dividends. Total surplus of RR. Co. Mar.
31,1887, $1,083.665; of Bank, $217,644.
Grand Rapids Sc Indiana.— (See Map of Pennsylvania RR.)—Owns
on

was

including bank, was $670,802, leaving
c

from Fort
22 miles;

Wayne Ind., to Mackinaw City, 367 miles; Manistee Branch,

Missaukee Branch, 8 miles; Osceola Branch, 7 miles; total
owned, 404 miles; leased and operated: Cm. Richmond & Fort Wayne
RR., 86 miles; Traverse City' Railroad, 26 miles; Bay View Little
Traverse & Mackinaw Railroad, 6 miles; Muskegon Grand Rapids &
Indiana RR., 77 miles—155 miles. Total, 599 miles.
The Grand Rapids & Indiana Railroad is operated in the interest
of the Pennsylvania Railroad Co., and $4,000,000 of the first
mortgage
bonds were guaranteed by that company, which buys the coupons each
year if any remain unpaid by the earnings. First mortgage bonds re¬
deemed by the sinking fund are replaced by 5 per cent bonds issued.
The bonds on the Muskegon Division have a traffic guarantee applicable
to their interest payment.
The Co. has a land grant, and sold in 1886 29,169 acres, for $268,200.
The lands unsold on Jan. 1, 1887, were 410,356 acres. The assets were
$326,412 bills receivable and cash with cashier $3.',085.
From Jan. I to Sept. 30, in 1887 (9 months), the
gross earnings of all
lines were $2,161,381, against $1,798,350 in 1886; net. $718,827,

against $591,014.

The income accounts for




r

years were as follows:

shown

surplus over all charges of $68,210 in 1886; a surplus of
1885; a surplus of $445,168 in 1884; a surplus of
$353,698 in 1883, aud a surplus of $39,810 in 1882 after paying
$330,395 for a 6i* per cent dividend on preferred stock. (V. 43, p.
a

$506,152 in
308.)

Harrisburg Portsmouth Mount Joy Sc Lancaster.—Owns

Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid¬
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
from

The property was leased to the Pennsylvania Railroad Co. for 999
years from Jan. 1, 1861, the rental being 7 per cent on the stock and
interest on the bonds. Operated as a part of main line of Pennsylva¬
nia Railroad.

Harrisburg Sc Potomac.—Owns from Bowmansdale to Shippens
burg, Pa., 32 miles; branch to mines, 51* miles; total operated, 371*
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
authorized, $1,800,000. Stock $379;165. Thomas W. Alii, President,
Boiling Springs, Pa.
Hartford Sc Connecticut Western.—Hartford, Conn., to Rhinecliff, N. Y., 108. Foreclosure suit was begun in 1880 against the former
Conn. West., and the State Treasurer took possession. On May 25,1881,
bondholders reorganized, and stock in new company issued for bonds.
In March, 1882, the purchase of the Rhinebeck A Connecticut Railroad
was made.
In August. 1887, Jas. W. Husted, of N. Y.. was elected
President, and this road was reported then as probably forming a part

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SUPPLEMENT,

INVESTORS’

56
Subscribers will confer a

great favor by giving

on

of column headings, Ac., see notes
first page

immediate notice of any error

of tables.

Housatonic—(Continued)—2d mort. bonds of 1869.
Bonds

—

...r
Rolling stock certificates
Housl. East <£ West Texas.—1st M., gld ($7,000 p. m.)
2d mort., land grant ($5,000 per mile)
Houston <£ Texas Cent.—1st M., (main) gold, l.gr.,8.1.
1st mort., 1. gr., West div. (Hempstead to Austin)
Consolidated mort.. reg

Date Size, or
Amount
Rate i>er
Par
of
Outstanding
Cenl
Road. Bonds Value.
Miles
of

74
74
74

192
192
345
119
58
464
58
522
64
64
64

gold,Waco AN’west (Bremond to Ross)
land grant, Main and Western Div.
Consol, mort., land grant, Waco A Northwest
Gen. mort., gold (for $18,500,000)
Huntingdon & Broad Top—1st mort., gold
2d mortgage, gold
3d mortgage consolidated
Scrip for interest 1st and 2d mortgages
Illinois Central—Stock
) 2,355
Leased line 4 per cent stock, guar
)
706
Mortgage bonds, sterling
706
Sterling bonds, (s. fd. £20,000 drawn yearly) ..c'
706
Mortgage, sterling
706
IstM.,

Consol, mort.,

o*
Mortgage bonds, gold
ooudssterl’g, (secured by Ch.S.L.AN.O.cous.)
Bonds, coup
mortgage on Ch. A Sp. RR

Trust

,

Bonds, reg., mortgage on Middle Div
Cnic.St Louis A N.O., 2d M. (N. O.J.A G. N.)....
1st mort
do
do
2d mort
do
do
do cons.M., gld. (for$18,000,000)
do
Illinois dc St. Louis— 1 st mortgage
Venice A Carondeiet mort., guar
of the loute to connect with the Poughkeepsie
rail route across the Hudson River. In year

(V. 44, p. 308 ;

Ronds—Princi¬

706

ill
131
224
567
567
567
19
6

5
5

Nil

,

4,305,000
416,000
367,500
1.497,000
121,181
40,000,000

1875
1874
1875
1886
1886
1886
1877
1881
1860
1877
1877
1881
1875
1880-2

100
£200
£200
£200

10,000,000
2,500,000

1,000
1,000

1,500.000

£200

1,000

5,000,000
1,600,000

1,000
1,000

1,483,000

1,000

1,398,000

3,900,000
1,000,000

2.196,000
968,000

1,000

80,000

1,000

15,030,000
200,000
300,000

500

1,000

Bridge and form an allending Sept. 30, 1887,

over In¬
charges,
V. 45, p. 166, 212, 239, 642.)

Housatonic.—Owns Bridgeport. Conn., to State

300,000

A. & 0.
A. & O.

Line, Mass., 74

miles; Brookfield June, to Danbury, 6 miles; leases—Berkshire Railroad,
22 miles; West Stookbridgc Railroad, 3 miles; Stoekbridgo & Pitts¬
field RR., 22 miles; Danbury A Norwalk RR., Danbury to Wilson, Conn.,
27 miles, and branches, 10 miles; total operated, 164'miles.
The pre¬
ferred 8 per cent cumulative stock was Issued in 1845 to pay for laying
the road with heavy iron, and in Oot, 1887, the stockholders voted to
settle past accumulative dividends by an issue of new 4 per cent noncuinulative stock for the old, together with ICO p r cent in the same
stock or a $100 bond, for the pxst-due dividends. Common stock to be

exchanged for the same new pref. on basis of three new for four old
shares. A consol. 5 per cent mortgage for $3,000,000 was authorized
to effect these changes, retire old debt, Ac.
There are also $150,000 6
per cent equipment bonds due Feb. 1,1888, and $70,000 5 per cent Dan¬
bury branch bonds due October 1, 1912. In Sept., 1886, the Housa¬
tonic leased the Danbury 6c Norwalk RR. for 99 years.
Fiscal ye r ends Sept. 30. Operations and earnings have been as fol‘

Is7g.

I*
8
6 g.

?g-

Z*
7

3^
2
6
5
5
4

g.
eg.

g3ia g.
3^2 g.
6
5

8
7
6
5 g.
8
6

& J.
A N.
& J.
A J.
A J.
A J.
A O.
A N.
A O.
A O.
A A.
A O.
A D.
M. A S.
J. A J.
A. A O.
A. A O.
J. A D.
J. A ,T.
J. A J.
J. A D.
J. A J.
F. A A.
A. A O.
M. A N.
J. A D.
T. A D.
J. A D.
Various

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

Surplus income

Last coup’n

1889
1898
Jan. 1, 1913

July 1, 1891
July 1, 1891
July 1. 1901
Oct. 1, 1913
May 1, 1912
April 1, 1925
Sept. 30,1890

Last paid Oct., 1884
Philadelphia, Office,

Feb.

do
do
do
do
do
do
N. Y.. 214 Broadway,
do
do
Loudon.

1.

1895

April 1, 1895
Dee. 1, 1889
Sept. 1, 1887
July 1, 1887
April 1. 1895
London,Morton R.A Co. April 1. 1903
do
do
New York. 214 B’dway.
N. Y., 214 Broadway

Dec. 1,
Jan. 1,
Jan. 1,

London,Morton R.A Co.
N. Y., 214 Broadway,

Jan.

1. 1898

Aug.

1, 1921

$62,394

40,697

$622,220

$570,979

(V. 43, p. 102. 131, 309.
653, 681, 751; V. 45, p. 437,

pd.May, ’86

paid July, 1865
paid July, 1885
paid July, 1885
Last paid Oct., 1864

Def. onint.forbond.d’t
-

April 1, 1910

Last
Last
Last

1,193,200

on

Dividend.

1910

do
do
do

do
do
do

bonded debt p’d

rnt.

pal,When Due.
Stocks—Last
July ,1, 1889

Bridgeport, Office,

1883.
Int. on floating debt..
Int. A prin. State debt.

Payable, and by
Whom.

& J.

J.

4

(?)
6,154,000
2,271,000
1,140,000
4,046,000

Where

Payable

6

200,000
1,344,000

Too

When

100.000

$300,000

1869 $500&c.
1885
500&C.
1880
-1881
1878
1,000
1883
1,000
1866
1,000
1870
1,000
1873
1,000
1872
1,000
1875
1,000
1881
1,000
500
1854
500
1857
1865
1,000

65,848.
Gross were
in 1885-86,
$348,964;
net, $93,975;
fross
earnings
$350,484;
net, $108,796;
surplussurplus
over
terest, &c., $55,027.

discovered in these Tables.

INTEREST OR DIVIDENDS.

DESCRIPTION.
For explanation

[VOL. XLY.

do
do

do
do
do
do
do

_

do
do

,

do

July 1, 1950

June

15, 1951

June 1, 1895
1900-’02

do

1886.

1865.

$86,130

39,888

$22,418
45,698

$201,718

$459,236

1,193,200

1951
1951

Oct. 1, 1890
Nov. 1, 1897
Dec. 1, 1907

St. Louis,

1684.

1905

$2,118
38,462
$650,177

$991,481
515, 547, 579, 746; V. 41, p. 22, 184, 526,
612.)

Huntingdon Sc Broad Top.—Owns from Huntingdon, Pa., to
Pa., 45 miles; branenes—Shoup’s Run, 9 miles; Six Mile
Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles;
total operated, 64 miles. This road was opened in July, 1656. The capi¬
tal stock is $1,369,050 common and $1,985,300 7 per ceut pref. stock.
In February, 1881, a dividend of 75 cents per share was paid ou pref.
stock, and in July, 1887, 2 per cent. Earnings in 1863, $424,494; net,
$196,651. In 1884, earnings, $333,560; net, $175,724. In 1865 gross
earnings $371,001; net, $191,709.
In 1836, gross, $379,375; net,
$222,736. (V. 44, p. 181.)
Mt. Dallas,

Illiuoi* Central.—(See Map.)—Line of

Road—On Dec. 31, 1886

mileage was: Main line—Chicago to Cairo, 365miles ; East Dubuque
Passenger Freight (ton)
Gross
Div. % to Centralia, 341 miles. Branches—Otto to Normal, III., 79 miles;
Net
Years.
Mileage.
Mileage. Earnings. Earnings. Rentals. Pref. Buckingham to Tracy, III., 10 miles : Kempton Junction to Kankaicee
1883-84.... 9,265,561 14,875,414 $676,7o9
$229,121 $74,095
8 June., Ill., 42 miles; Gilman to Springfield, 113 miles; Park Site to South
1884-85.... 8,835,567 14,890,424
249,632 . 74,102
645,859
5 Chicago, 5 miles; total iu Illinois, 953 miles. Southern Division—New
1885-86.... 9,890,020 17,296,373
690,016
240.610
74,100
6 Orleans, La., to Cairo, III., 548 miles; branenes: Durant. Miss., to Aber¬
1886-87....15,737,214 21,757,014 962,550
380,253 170.022
3 deen, Miss., 108 miles; Jackson to Parsons, Miss., 115 miles; Sehula to
Durant, Miss., 24 miles. Total owned, 1,747 miles. Leased—Dubuque
-(V. 43, p. 334: 774; V. 41, p. 661; V. 45. p. 53, 472, 672.)
to Iowa Falls, 143 miles; Iowa Falls to Sioux City, 183 miles; Waterloo
Total leased, 402 miles. Total
Houston East Sc West Texas.—Owns from Houston, Tex., to Minnesota State Line, 76 miles.
to Sabine River at Logansport, 192 miles, and connects t here with a line operated Dec. 31,1836, 2,089 miles. In Jan., 1837, took possession of the
to Shreveport, La.
(Narrow gauge, 3 feet.) The company had a Texas road Champaign to Havana, with branch from MontieellQ to Decatur,
130 miles, and the narrow-gauge road West Lebanon, Did., to Leroy,
land grant of 10,240 aeivs for each mile constructed and equipped.
Bonds issued to the extent of $7,000 per mile first mortgage amt $5,000 Ill., 76 miles, making total oporat. d after Jinuary, 1887, 2,355 miles.
Under construction : Chicago Madison A Northern, Freeport, Ill., to
per mile second mortgage, but the 2d mortgage bonds were not sold
Madison, Wis., and C.iicag > to Freeport, about 170 miles.
On Oct. 1,
and are held as collateral for the debt due Mr. Bremond, $750,000.
Stock authorized, $10,000,000 ; issued, $1,920,000.
In July, 1885, M. 1^87, t ic Dabuque A Sioux City anu Cedar Falls A Minn., and the Iowa
Falls A Sioux City, leased roads, were surrendered, and their earnings
G. Howe, Assistant Superintendent of the Houston A Texas Central,
was appointed receiver of this company.
Interest is in default, and no longer included iu the Illinois Central’s.
Organization, Leases, Ac.—This company was chartered in Decem¬
the proposition made to bondholders was in V. 44, p. 244. (V. 43 p.
ber, 1S50, and organized in March, 1851, and the whole road, 707
131, 547; V. 44, p. 244.)
miles, opened September, 1856.
The Illinois Central was one of the
Houston Sc Texas Central. (See map of Southern Pacific )—Owns first, and has been one of the most successful, of the land grant roads.
from Houston, Tex., to Red River City, Tex., 345 miles; branches The lauds granted were upon the condition that
the company
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to should pay to the State 7 per cent of gross earnings yearly in lieu of
Ross, Tex., 57 miles; total operated, 520 miles. Texas Central RR. taxes. The Springfield Division was acquired by a lease of theChicago
completed from Ross to Albany, 177 miles, with branch, Garrett to A Springfield (Gilman Clinton A Springrtel l foreclosed for 50 years,
Robert, 52 miles, is operated in connection with this road, but accounts but road is practically owned. The leased linos in Iowa were acquired
are separate.
The company has a land grant from the State of Texas in 18 37 by purchase of a controlling interest iu their stock. The
of 10,2 40 acres per mile, amounting to about 5,130,720 acres; but the company acquired a controlling interest iu the Chicago St. Louis A
lands are not ou the line of the road. Mr. Morgan, of the Louisiana New Orleans Railroad, to which it made large advances.
From July
Steamship Line, bought a controlling interest in the stock, and in 1, 1882, leased the Chicago St. Louis A New Orleans for 400 3Tears,
February, 1883, the Southern Pacific party purchased this interest at 4 per cent per annum ou stock and issued the above 4 per cent
($3,985,500 of the stock) with their purchase of the Morgan property. line stock, in exchange for tho-Chio. St. L. A N. O. stock. Fiscal year
Total stock is $7,726,900. The general mort. of 1881 for $18,500,000 ends Dee. 31.
Annual olection held in March.
is made to the Farmers’Loan A Trust Co. as trustee, which company
Stocks and Bonds—The 4 and 3 'a per cent bonds due in 1951 are uuder
holds $1,500,000 Income and Indemnity bonds and $1,149,000 consol, tlie old main line mortgage of 1874, and this company was the first to
mortgage bonds as security.
negotiate at par a 3 Lj per cent bond. On the Chic. St. L. A N. O. the lessee
The coupons due January 1, 1885, on first mort. bonds were not paid
guarantees the principal and interest of all the outstanding bonds prior
by the Co., but were partly purchased by the Southern Development. Co. to the 5 per cent bonds, and by an endorsement ou tlie latter bonds
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile,
guarantees the payment of the interest ou the same until the principal
covering 345 miles of road; it is also a first lien on ten sections of land is paid.
Of the first, mortgage bonds, $541,000 are a prior lien on
for each mile, or 2,20^,000 acres. The second mortgage at 8 per cent,
that portion of the road iu Tennessee. The trust bonds of 1886 are
is a second lien on 463 miles of road and also a first lien on six sections secured each onu by a deposit of a $1,000 bond of the Chic. St. L. A N.
of laud for each mile of road, being 1,777,920 acres in all.
O consol. 5 per cent mort. and tlie3r also have the agreement that they
In Nov., 1886, a formal sale of certain lands was made as required by
shall bo secured by any future mort. that may be issued ou the Ill. Cent,

lows:

the

leased

the grant.
(See V. 43, p. 514, 579.)
In February, 1885, B.G. Clark and Clias. Dillingham were appointed
receivers in a suit of the Southern Development Co. against the railroad,
and receivers’certificates were issued.
In January, 1886, foreclosure

proceedings were begun under the first mortgage, and the first mortgage
trustees were afterwaids put in possession of the property as receivers
with Mr. Dillingham.
The latest proposal for reorganization, Ac., was in V. 41. p. 653.
The following is the statement of gross earnings, operating expenses,
amounts

charged to renewals and betterments, and gross interest charges,
four years.

in each of the past

EARNINGS, EXPENSES AND CHARGES FROM 18S2 TO 1885 INCLUSIVE.
1884.
1885.
1886.
1683.
Gross earnings
$3,251,875 $2,547,817 $2,739,915 $3,0S0,7b6

Expenses—
Operat’g. incl’g taxes.$1,7 13,771
Extraordin’y rep’s, Ac
667,392
Equipment
95,398
Total

Net earnings




$2,526,562
$725,313

$1,578,190
519,699
92,221

$2,220,110
$327,737

$2,052,377
77,192 )

82,989 5
$2,212,559
$527,356

$2,311,205
78,834

$2,390,039
$690,757

lines.
The company issued $10,000,000 new
of June 1, 1887, the proceeds to be u**d
lines iu Iowa, for construction, Ac.

stock at par to stockholders
for acquisition of the leased

Dividends paid since 1870 (prior to current year) have been: In
10 per cent; iu 1872, 10; in 1873, 10; in 1874, 8; in 1875,
;
8; m 1877, 4; in 1878,6; in 1879. 6; iu 1880, 6; in
;
7 ; in 1883, 8 and 17 per cent in Chic. St. L. A N. O. stock,
for leased line certificates : in 1884, 10; in 1885, 8; in 1886, 7^.
of the stock yearly since 1870 have been: in 1871, 132

1871,

8 in 1876,
1881, 7 in 1882,
exchangeable
Prices
0139V, in
1872, 119<z>140; in 1873. 90 0126V iu 1874, 900103 V in 1875, 88^
0 106 V in 1876, 6078£103%; iu 1877, 40^079; in 1878, 7230 0 87; m
1879, 79 *4 01003*; in 1380, 99^0l273s; in 1881, 1240146V in 1862,
127%@1501a; iu 1883,124 0143 ; in 1884, 1100140; in 1885. 119^
0140; in 1886. 1300143 V in 1887 to Nov. 18, inolusive, 1140138.
Operations and Finances.—The Illinois Central for many years paid
10 per cent dividends, as tlie road drained a rich territory, of which it
was the only outlet to Chicago.
But the building of numerous bast and
west lines crossing its road cut into its business severeh'
The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property, and
the leased lines in Iowa by purchase of their stocks.

iu 1837

acquired




INVESTORS’

58
Subscribers will confer

a

SUPPLEMENT

great favor by giving immediate notice ol any error discovered In tbese Tables.

DESCRIPTION.

24881
For explanation of column headings, Ac.,
on first page of tables.

Miles Date
of
of
see notes
Road. Bonds

Indiana Bloomington dk West.—Stock
1st mort., preferred, coup, or reg
1st mortgage, coup., may be reg
Income

bonds, reg., convertible
$6,000,000
2d mortgage, coupon or reg/....
1st mortgage, gold, Eastern Division

__

Consol. Income bonds for

:

Sinking fund debentures

Indiana Illinois dk Iowa—Bonds
2d mortgage, reg

Indianapolis <6 SI Louis—1st mort., in 3 series
Mort for $2,000,000, gold, (end. by C. C. C. & I.).
Indianapolis dk Vincennes— 1st mortgage, guar
2d mortgage, guaranteed
Indianapolis <& Wabash—1st mort., gold

Iowa Falls dk Sioux City—Stock
1st mortgage. April 1, ’69
Ithaca Auburn dk West.—1st mort.(for $500.000)
2d mortgage, (income for 3 years)
Jacksonville Southeastern—1st mortgage
General mortgage
Jacksonville Tampa dk Key West—1st mortgage, gold

Jefferson (Pa.)—fat A 2dmorts. (Hawley Branch)..
1st mortgage (Susquehanna to Carbondale)

Jeffersonville Madison dk Indianapolis—Stock
Jeff., Mad. & Ind., 1st M. (s. f. $15,00o per year).

do
do
2d mort
Jersey City dk Bergen —1st mortgage
Joliet dk Northern'lndiana—1st mort., guar, by M. C.
Junction (Philadelphia) .—1st mort. (extended)
2d mortgage
Kanawha dk Ohio— 1st mort. ($10,000 p. in.)
Kansas Central—1st mortgage (for $3,200,000)

543
202
202
202
342
202
140
120
120
72
72
117
117
153

184
184

.

_

^

38

130*2
222
159
159
6
44

3-6

3*6
115
168

Rate per
Cent.

Outstanding

100 &c.
500 Ac.
100 Ac.

l.oooiooo

1,000

500 &c.

4,688^000
1.500j000

1,000

3.000,000

1,000
1,000

500,000
600,000
341,000
2,000,000

500

1,000
1,000

500 Ac.

1,000
1,000

100
500 Ac.
100 Ac.
100 Ac.

^

9

54
112

Value.

1,000

1,000
1,000

72,300

500,000

1,700,000
1,450,000
1,800,000

I1*

4,600,000
2,800,000

300, uOO

2,000,000

100

1866
1870
1873
1877
1882
1865
1886
1881

1,000
1,000

2,000,000
2,563,000
1,995,000

1,000

258,000

1,000

800,000
425,000

1**

265

,

265
265
265

R'd op’rat’dDec. 31.

Receipts—

1,928

$
13,064,743
6,629,472

Gross earnings
Net earnings

Interest, Ac

298,009
202,226

Miscellaneous

Total
Disbursements—

Rentals, incl. int.

1885.

2,066
$
12,190,833

2,066
$
12,621,264
6,062,321
5,994,635
188,967
270,627
121,206
65,966

Taxes
Construction acc’ts.
Add’t’l equip, aoc’t..
Miscellaneous

2,149

6,372,494

6,331,228

1,891,538
538,750

1,787,316
546,900

1,901,038
544,400

1,875,073
776,760

3,300,000
559,980
632,529

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

2,720,000
556,074
548,859

2,430,000
575,459
615,926

60,807

122,443

50,000

Total
6,972,797
6,234,566
6,331,178
6,395,661
Balance, surplus
156,910
137,928
50
8,593,
—(V. 43. p. 190, 245, 607, 671; V. 44, p. 118,149, 275, 291, 307, 310
343, 494, 526. 539, 653, 808 ; V. 45, p. 142, 509.)
Illinois Sc St. Ijouls.—Belleville to East St. Louis, Ill., 15 miles
branches to coal mines, 4 miles; total, 19 miles. Leases Venice A Caron.
RR., 6 miles, and guarantees the bonds. Capital stock of Ill. <te St. Louis
is $900,000 preferred and $617,000 common. In year ending June 30,
1887, gross earnings were $204,406 ; net, $98,247; surplus over all in¬
terest, $48,984 ; in 1885-6 gross were $222,975; net, $88,667; surplus
over all interest, $33,751.
Jos. W. Branch, President, St. Louis.
Indiana Bloomington Sc Western.—Owns from Indianapolis,
Ind., to Pekin, Ill., 202 miles, and Indianapolis to Springfield,
Ohio, 142 miles. Leased, Pekin to Peoria, 9 miles; Springfield to San¬
dusky, O., 130 miles; Cary, O., to Findlay, O., 16 miles; Springfield to
Columbus, 45 miles. Total operated, 543 miles. This was a consolida¬
tion in March, 1881, of the Ind. B. A W. and the Ohio Ind. & Pacific.
The Cincinnati Sandusky & Cleveland and branch was leased in April,

1881; but of this, 24 miles (Springfield, O., to Day toil) is leased to Cin¬
lease of the Indianapolis
The former Indianapolis
Oct. 1, 1874, and the road

cinnati A Springfield. In April, 1885, the
Decatur A Springfield road was given up.
Bloomington A Western Company defaulted
was sold in foreclosure Oct. 30, 1878.
In July, 1886, a receiver was appointed

for the I. B. & W..

as

the

company was held liable for a larger rental of the Cin. Sandusky & Clevelai d road than had been expected; but the U. S. Circuit Court sustained
the decision and ordered the rental to be naid, and iu Nov., 1886, a cir¬
cular was issued proposing a plan of foreclosure and reorganization.
(See V* 43, p. 579.) On March 28,1887, the road was sold at Indianap¬
olis and will be reorganized pursuant to the plan, but reorganization

delayed by legal formalities till January, 1888.
ending June 30, 1886, see ieport in V. 43, p. 546, gross
earnings $2,493,536; net, $839,783; disbursements, $919,497; deficit,
$79,714.—(V. 43, p. 23, 49, 102, 132, 216, 309, 398,458,515, 546,
579, 634; V. 44, p. 90, 184, 211, 434; V. 45, p. 369, 401, 672.)
Indiana Illinois Sc Iowa.—Completed and in operation from
Btreator. Ill., to Knox, Ind., 120 miles. Stock, $3,598,000. In year
ending June 30, 1887, gross earnings were $188,704; net, $*2,s93;
surplus over charges and improvements, $1,052.
Gross in 1885 6,
$123,089; net, $22,568. F. M. Drake, President, Centreville, Iowa.
Indianapolis Sc St. Louis.—Owns from Indianapolis to Tern
Haute, Ind., 72 miles; leased line, St. L. Al. & T. H. and branches.
193 miles; total operated, 265 miles. The old lease of the St. Louis
A. & T. H. was guaranteed by three other companies, and suit has been
pending as to the rental. The company was formerly controlled lA
was

For the year

Pennsylvania and Cleveland Columbus Ciu. A Ind. companies',
who jointly owned the stock of $600,000.
Interest had not been
paid on the second mortgage and equipment bonds since July, 1878
and on July 28,1882, the road was sold iu foreclosure for $1,396,00C
(subject to 1st mort.) and bought for Clew Col. Cin. & Ind. Co. and a
new company organized September, 1882, with J. H. Devereux as
the

President.

A

by which this
dianapolis

new

lease

was

made of the St. Louis Altou & Terre HauU

company and the Cleveland Columbus Cincinnati & In¬

are jointly

liable for the rent of $450,000 per year as a mini
mortgage bonds series “A” are J. A J.; series “B, ’
M. & 8.; series “C,” M. & N.; and the C. C. C. & I. RR. guarantees
$750,000 of them.
There has been a large deficit on the company’s operations after de
ducting the rental. Net earnings in 1886 were $441,513; rental paid,
$450,000; interest on bonds. $170,000; miscellaneous, $149,512 ; total,
$769,512; net loss to lessee iu 1886, $324,999; deficit in 1885, $560,
951. The road is only incidentally of advantage to its owners as a

mum.

Of the first

route to St. Louis.

Operations and earnings for five




years past were:

Jan. 1, 1900
April 1, 1909
April 1, 1019

A
A
A
A
A
A
A
A

O.
J.
J.
J.

J.
O.
J.
O.

Boston, at Office.
Sept. 1,1887
Y., Nat. Park Bank. Oct. 1. 1917
N.Y., Hanover Nat. Bk.
Deo., 1906
do
do
Jan. 1, 1907
N. Y., Am. Ex. Nat. Bk. July 1, 1910
do
do
July 1, 1912
N. Y. Mercan: Trust Co.
Jan. 1,1914
N.Y.,N.Y. L. E. A W. RR. 1889 A 1927
do
do
Jan. 1, 1889
N. Y., Farm. L. A T. Co.
May, 1881
ao
do
Oct. 1, 1906
do
do
July 1, 1910
Jan. 1, 1903
N. Y., Farm. L. A T. Co. July 10,1907
Phila., 233 So. 4th St
July 1. 1907
do
do
April 1, 1900
1 st coup, due Jan., ’89
Jan. 1, 1936Office, 195 Broadway.
April 1, 1911
N.

Passenge
Freight (ton)
Mileage.
Mileage.
21,008,318 202,985,772
20,963,061 196,667,532
22,494.880
20,596,678

21,017,157

207,672,278
216,121,867
177,844,516

Gross
Net
Earnings. Earnings..
$2,086,776 df.111,608
2,131,621
172,419
1,921,726
189,904
1,855,903
249,249
1,876,495
444.513

$
12,529,494 toIndianapolis Sc Vincennes. -Owns from Indianapolis, Ind.,
Vincennes, Ind., 117 miles; branch, Bushrod-to Dugger, 12 miles;
5,988.790 total, 129 miles. The Penn. Co. owns a controlling interest in the stock
313,343 and operates the road, advancing the deficiency to pay interest on the
102,121 bonds. The capital stock is $1,402,000; the debt due to Penn. Co. Deo.
31, 1886, was $1,513,007. In 1881 the net earnings were $10,260; in
6,404,254 1882, $19,850; in 1883, deficit, $11,031; in 1884, deficit, $9,570; in
1885, deficit, $5,847; in 1886, surplus, $26,298. Annual interest on

7,129,707

on

bds. of leased lines.
Int.on Ill. C. debt...
Div’ds on Ill. C.stk. A
leased line certs...

1886.

Q.—F.

A.
.

INCOME ACCOUNT.

1884.

Q.-M.

J.
A.
J..

Miles.
265

Dividend.

,

41*

727,000
1,348,000

pal,When Due.
Stocks—Last

July 1, 1921
A. A O. Last coup.paid Apr.,’86 April 1, 1909
J. A D.
Last paid June, ’86
June 1, 1921
F. A A.
1903
M. A N
New York Agency.
Nov. 15, 1887
M. A N.
do
do
Nov. 15,190&
Various N. Y.t Union Trust Co.
July 1, 1919
M. A N.
N. Y., U. S. Trust Co.
Nov. 1, 1912
F. A A. N. Y., Farm. L. A T. Co
Feb. 1, 1908
do
M. A N.
do
May 1, 1900
A. A O. N. Y., 1st Nat. Bank.
July 1, 1906

A.
J.
J.
J.

6
6
6

Where Payable, and by
Whom.

J. A J. N. Y., Corbin Bank’g Co
A. A O. Last coup.paid Apr.,’86

7
7
7
7

300.000

Years.

Pay’ble

A.AO.
J. A D.
J. A J.
J. A J.
J. A J.
6 g- J. A J.
4** A 7 J. A J.
7
J. A J.

1,566,000

1,000

When

7
7
7
6
6

400,000
498,090
300,000
879,000

1869

1,000

7
5 to 6
6
6
5 to 6
6 g6
6
6
7
6 g.
7
6
7 g-

3.500,000

1,000

1,000
1,000
1,000

Rojitfs—Princi¬

INTEREST OR DIVIDENDS.
Amount

$100 $10,000,800

1879
1879
1879
1881
1879
1881
1883
1882
1883
1869
1882
1867
1870
1876
1869
1876
1877
1880
1882
1884
1867

38i*
38i*

Size or
par

For 1886 the annual report in V. 44, p. 307, 310, showed that the
surplus over all charges (including construction and.equipm’t accounts)
and 8 per cent dividends was $8,593.
The profits of the whole line
are shown in the figures below:
1883.

fV0L XLV.

debt, $206,000.

Indianapolis Sc Wabash.—Owns from Decatur, Ill., to Indian¬
apolis, Ind.. 153 miles. This company is successor to the Indianapolis
Decitur & Springfield RR., sold in foreclosure May 25,1887. The fore¬
closure was made in New York under the 2d mort., and the old stock
was assessed $2 50 per share.
The new capital stock is $4,240,0C0.

-(V. 43, p. 718; V. 44, p. 184, 211, 362, 632; V. 45, p. 239, 272.)
Iowa Falls & Sioux City— (See Map of Illinois Central).—Owns
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
in 1870 and was leased to the Illinois Central for 20 years from Oct. 1,
1867, at a rental of 36 per cent of the gross earnings. The Illinois
Central had an option of continuing the lease after 1887 at same rental,,

the.property by purchase of the stock, and the Iowa
City distributed to the stockholders, assets amounting to
$1,759,500. For the eleven mouths ending Feb. 28, 1387, the total
rental was $213,998; receipts from sales of lauds, $326,316; the total
net income was $769,604, and all expenses, including dividends, $610,106; balance. $159,498. The contingent fund invested was $1,450,000.
Horace Williams. President, Clinton, la.
(V. 43, p. 6l>7; V. 44, p. 439.)
Ithaca Auburn Sc Western.—Owns from Freeville to Auburn,
N. Y., 38 miles. The New York & Oswego Midland RR., Western Exten¬
sion, was sold in foreclosure, and this company organized Sept. 20,
1876. The stock is $975,800
On April 1, 1883, was leased to South¬
ern Central of New York for the term of its charter, at a rental of 3313
per cent of gross earnings, with guarantee that rental shall equal 4 per
cent on fir.-t mortgage bonds. In Nov., 1886, leased to Lehigh Val'ey
RR. with So. Central. Foreclosure has been consented to by a majority
of bondholders in order to change the form of bonds to conforn to the
but acquired
Falls <fc Sioux

terms of the lease.

Jacksonville Southeastern.—Owns from Jacksonville to Cent-

ralia, Ill., 112 miles. This was the Jacksonville Northwestern & South¬
eastern RR., projected from Jacksonville to Mt. Vernon, 125 miles. Bonds
were issued at $20,000 per mile, amounting to $600,000.
In 1879 the
company was reorganized bv the bondholders under this name. Stock
$1,000,000. In year ending June 30, 1885 gross earnings were $158,703; net, $45,304; interest on bonds, $61,390: def., $16,085.
Gross
in 1885-6, $162,151; net, $57,780; interest on bonds, $70,242 ; deficit,
$12,463. W. S. Hook, Presid’t, Jacksonville, HI.
Jacksonville Tampa Sc Key West.—(See map)—Line of road
Jacksonville, Fla., to Sanford, 126 m.; Enterprise branch, 4*2 m. Deland
branch, 4m. Leased At. Coast St. Johns* I. R., Enterprise to Titus¬
ville, 37 in.; operates Jaeksonv. St. Aug. & Halifax, 37 m.; Sanford &
Lake Eustis RR., Sanford to Tavares, 29m.; total operated, 2371* m.
This road forms a link in the Atlantic Coast line running from Jackson¬
ville to Sanford. Florida, and via South Florida road to Tampa, whence
steamers run to Havana.
(See full statement as to location, etc., in
Chronicle V. 44, p. 681.) The road was opened March, 1886, and in
the year May 1, 1886, to May 1, 1887, the gross earnings on main line,
13do mile*, were $422,333 ; net, $1*24,114. The land grant is about
1,500,000 acres. The bonds mav be redeemed before maturity at 110
Stock is $2,600,000. N. Y. office, 10 Wall St.
(V. 44, p. 681; V. 45, p.
25, 53.)

miles.

Leased

in

perpetuity to the Erie Railway for $140,000 per
operated by the N. Y. Lake Erie & West. Capital
stock, $2,096,050. Samuel Hines, President. Scranton. Pa.
annum,

and

now

Jeffersonville Madison Sc Indianapolis.—(See M>p of Penn¬
sylvania RR.)0\\ns from Jeffersonville, Ind., to Indianapolin, Ind., 108
miles; branches—Madison, Ind., to Columbus, Ind., 45 miles; Colum¬
bus, Ind., to Sheibyville, Ind., 24 miles; Jeffersonville, Ind., to New
Albany, Ind., 6 miles; Slielby & Rush RR., 18 miles; Cambridge Ex¬
tension, 21 miles; total operated, 222 miles. The road was leased to
Pennsylvania Company from 1873, with,a guarantee of interest on
bonds and 7 per cent on stock. Lease was modified from January 1,
1880, the lessees to pay over all the net earnings of Hie .T. M. A I.
Co. The Pennsylvania Company owns $1,991,000 of
the stock. Divi¬
dends were at the rate of 7 per cent per annum till May, 1890. Earn¬
ings for two years past were as follows; 1886. gross earnings, $1,319,244; net, $357,775. 1885, gross' earnings $1,21",088; net, $291,166.
Jersey €lty Sc Bergen.—Owns from Jersey City to Bergen Point,
N. JM 6 miles. In 1885 gross earnings, $362,972; net, $115,377; int.,
dividend and sink’g fund, $55,000. In 1886. gross, $411,062; net,

November,




1887. J

EAILEOAD

STOCKS

AND

BONDS

59

60

INVESTOKS’

Subscribers will confer

a

For explanation of column headings, Ac.,
on first page of tables.

1886
1885
1877

10
174
45
389
389
160
202
26

Stock, preferred
1st M., land grant, sink- fund, coup, may he reg.
Mort. on branches, guar, (drawn at 110, flat).. c *
Kan A Mo. RR

Equipment bonds ($70,000 retired annually)
Ten-year coupon notes
Kans. O. Mem. dk Birm.—1st M. (drawn at 110)..c*
Kan. O. Spring, dk Mem.—1st M. (drawn at 110).o *
Plain bonds (red’ble at will at 105 and int.), guar
Memphis equipment bonds (guar, by K. C. S. A M.)
Current River RR., 1st mort., guar
Kentucky Central—Covington & Lex.,mort., extend
Maysville Division mortgage
'
New mortgage, gold
c "
KeokukdkDes Moines—1st M., int. guar. C. R. I. & P.
Keokuk dk Western—Note secured by mortgage
Kings County Elevated—1st mortgage, gold
0*
Kingston dk Pembroke— 1st mort
Lackawanna dk Pittsburg—Mortg. (for $2,000,000)

58,000

....

1879
’80-’84

1882

100 Ac.

250
282

....

1987

1,000
1,000

1884
1885
81
80
50
220
162
143

....

....

1887

1,000

1855

1.000

....

....

1887
1878

1,000
100 Ac.

1885
1882

134
....

1,000

.

m

m

mm

....

1,000
500 Ac.

1887
....

delphia & Reading and the Philadelphia Wilmington A Baltimore rail¬
Capital stock, $250,000. Net earn¬
ings in 1882-3, $123,919; in 1883-4, $130,731; in 1884-5, $95,865; in
1885-6, $131,212. Large dividends are paid according to receipts each
year. In 1881 paid 40 per cent, in 1885 20 per cent, in 1886 30 per
cent, and April, 1887, 25 per cent.
Kanawha Sc Ohio.—Corning, Ohio, to Charleston, W. Va., 115
miles, and to be extended to a point in Fayette Co., W. Va., in all 180
miles. The Ohio Cent. Riv. Div. defaulted on interest Sept,’83. and
was sold Oct. 22, ’85, and this company organized and above bonds
issued. Bonds and stock of old company were assessed. (See plan, V.
40. p. 356.) $200,000 of the total of $1,800,000 1st mort. bonds are re¬
served to retire the loan on the Point Pleasant Bridge, and $111,* 00 to
retire the Ohio Cent. Mineral Div. bonds.
Common stock author¬
ized $2,200,000; lstpref., $6,000,000; 2d pref., $4,000,000. Office, 2

(V. 43, p. 132;

Kansas Central.—Owns from Chic. R. I. A Pac. June, to Miltonvale, 166 miles; leased Leavenworth to Chic. R. I. & Pac. June 1 mileSold under foreclosure of first mortgage April 14, 1879.
Reorganized
April, 1879; on April 1, 1887, default was made. Gross earnings in
1885, $268,059; <lef. $46,575; def. under interest, Ac., $127,455. Gr 'SS
,

earnings in 1886, $217,673, def., $76,047; def. under interest, Ac.,
Stock, $1,348,000. Union Pacific holds $1,313,400 of the
stock and $1,325,000 bonds. (V. 44, p. 494; V. 45, p. 53.)
$159,404.

Kansas City Belt.—From Argentine to Washington Park, 10
mile*. Stock is $lOO,OJO. Owned one-half by Atchison Topeka A Santa

Fe, and one-quarter each by Kans. City Ft. Scott A Gulf and Chic. Mil.
a

terminal road at Kans. City.

Kansas City Clinton Sc Springfield.—Owns from Cedar Ju nc.
Kan., to Asli Grove, Mo., 164 miles, and branch Raynor Junction to

Pleasant Hill, Mo., 10 miles; total, 174 miles. Road was built in the
interest of K. C. Ft. S. A G. RR., which company guarantees the bonds.
In Jan., 1885, the Pleasant Hill A De Soto road, 45 miles, was purchased
from Atcli. Top. A S. Fe RR., the K. C. C. A S. Co. assuming the bonds.
Stock authorized, $2,500,000; issued, $1,775,410, of which a majority
is owned by the Kansas City Fort Scott & Gulf RR.
Kansas

City Fort

Scott Sc

Gulf.—Mileage is

as

to Carbon Centre

and Rich Hill, 28 miles; Fort Scott Junction to Springfield, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1886, 389 miles.
This company was organized April 1, 1879. as successor to the
Missouri River Fort Scott A Gulf, which was foreclosed Feb. 4, 1879.
In Nov., 1887, consolidation with the K. C. Springfield A Memphis
road was proposed as per circular in V. 45, p. 642.
The Branch line 7 percent bonds duo Sept. 1, 1910, are on the fol¬

lowing leased lines : Fort Scott Southeastern A Memphis, 103 miles, at
$15,000 per mile; Rich Hill Road, 28 miles, at $13,435 per mile ; Short
Creek A Joplin Road. 22 miles, at $14,209 per mile. These bonds are
guaranteed, principal and interest, anu have a sinking fund of 1 per
cent of whole issue annually, with which bonds are bought at 110 or, if
not offered, are drawn at 105; also the bonds of Memphis Kansas &
Colorado RR., 26 miles, at $15,000 per mile, without sinking fund, The
equipment bonds may be paid off at 105 on 60 days’ notice.
The Kansas City Clinton A Springfield bonds are guaranteed by Kans.
City Fort Scott A Gulf. (See V. 39, p. 234.)
In 1886 the K. C'. C. A S. failed to earn its interest by $52,000, which
was advanced by this company, but the gross earnings or the Kans. C.
Ft. S. & G. were increased $89,3 >4 by interchange of business with the
other road. The gross earnings from business interchanged with K. C.
S. & W. was $743,182.
The annual report for 1886 was in V. 44. p. 432, showing the following
earnings and income account for four years:
INCOME ACCOUNT.

1883.

Receipts—
Total gross earns
Net earnings

$
2,016,212
837,‘j63

Interest, Ac

1884.

$
2,422,443
1,014.75)

18S5.

$

6
5 g.
7 g.
2
4
7
7
5
6
6
5
6
6
6
5

5 A
7
4
5
6
5
6
6
6
6
6
6

-

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

1886.

.-$

A
A
A
A
A
A
A
A
A

Where

Dividend.

J.
Boston.
O. Boston, Merch’sNat.Bk.
O.
do
do
A.
Boston.
A.
do

July 1, 1916
Oct.

1, 1925
1, 1907
Aug. 15, 1887
Aug. 15, 1887
D. Bost., Nat. Webster Bk. June 1, 1908
S.
do
do
Sept. 1, 1910
A.
do
do
Aug. 1, 1922
do

D.

6
g.

Oct.

do

Dee. 1, 1893
1895
Mch. 1, 1927

May 1, 1923

May 1, 1894
Dec.

J. A J.
M. A S.

g.
g.

Last paid July, 1884
Last paid Oct., 1884

June, 1890
3906

July 1, 1987
Oct.

.

April 1, 1923
April 1, 1923
Jan.

Jan.

1, 1937

Aug. 15, 1887
Aug. 1, 1887

1885.

$

$

116,951

359,364

475,576

336,156

103,250
405,880

3
8

5
8

8

21,176

24,360
1,421

Miscellaneous

1922

1884.
$
102,661

Ft. Scott equip, bonds.

Sinking fund

1,

Sept., 1922
Jan. 1, 1912

J. A J. N. Y., Central Trust Co.
F. A A. N.Y.,Grand Cent.Offlce.
F. A A.
do
do

Dividends
Rate paid on com
Do
pref....

1, 1923

At will.
1325
1912

Jan’ary

5 g.
2
5

1, 1897
1927

J. A J. N. Y„ Am. Ex. Nat. Bk.
J. A J. N.Y.,R. P. Flower A Co.
A. A O. Last paid April, 1884

g-

$

384

Total disbursements.
767,450
Balance
sur. 70,218

1,046.213

-(V. 44, p. 184, 432; V. 45, p. 613,
Kansas

Payable, and by Stocks—Last
Whom.

1883.

to

pal;^When Due.

M. A S.
Boston.
M. A N. Boston. Nat. Union Bk.
M. A N.
J. AD.
A. A O.
Boston.
J. A D. Kentucky Central RR.
J. A J. N. Y.. Morton, B. A Co.
J. A J.
New York City.
A. A 0. N.Y., 13 William street.

„

def. 4,068
642 )

18S6.

4

22,300
3,805
964,461
sur.23,707

8
22,300

1,034,330
sur.31,991

City Memphis ^Birmingham.—Owns from Memphis

Birmingham, Ala., 251 miles; completeu in October, 1887. Three cor¬

porations in three States were consolidated under this name. Bonds for
$25,000 per mile are issued. The New England Trust Company is
rustee under the mortgage; abstract V.
45, p. 575.
The K. C.
Springfield A Memphis owiis half the stock and gives a traffic guaran¬
tee of 10 per cent of gross earniogs derived from business to and from
the hew road, to be applied first to the payment of any deficiency in the
interest, and second to retire the bonds. The bonds may be drawn or
bought at 110. (V. 43, p. 217; V. 44, p. 275 ; V. 45, p. 472, 575.)
Kansas City Springfield Sc Memphis.—This organization em¬
braces two corporations under the laws or Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis. Term., 282 miles.
Current River RR..from Willow Springs, Mo., to Cairo, 81 miles. In
Nov., 1887. consolidation proposed with K C. Ft. Scott A G. (See V. 45,
p. 643.) The K. C. F. Scott A G. appropriates 15 per cent of gross earn¬
ings on business to or from the new road to pay—first, auy deficiency
in the interest on bonds, and second to retire the principal at 110. Ab¬
stract of mortgage (N. England Tr. Co., trustee), V. 45. p. 575. Capi¬
tal stock, $5,264,500. The equipment bonds are retired 1-12 annually,
and all may be retired at 105 at any time. The Current River RR. bonds
are guaranteed and wrere issued as per circular in V. 44, p. 246.
The
report for 1886. in V. 44, p. 585, showed gross earnings of $1,569,708,
and net, $480,709; also, $131,475 traffic guarantee received.
(V. 44, p.
246, 585; V. 45, p 574,613,642.) -

Kentucky Central Railway.—Owns from Covington, Ky., to

Livingston, Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris,
Ky., to Maysville, Ky., 49 miles; Richmond to Stanford,.34 miles : total
operated, 253 miles. This was formerly the Kentucky Central Railroad,
which was sold in foreclosure April 23, 1887, and the present company
organized, with stock of $7,000,000. See abstract of morigage (Metro¬
politan Trust Company of New York, trustee), V. 45, p. 372.
The Company leased of the Louisv. A Nashville RR. its Richmond
branch for 99 years from Jan. 1,1883, for $24,000 per annum, with a
right to purchase at any time for $400,000. The stack is $6,600,000.
From January 1 to Sept 30, in 1887 (9 mouths) gross earnings were
$779,696. againstl$672,790 in 1886 ; net, $329,629, against $210,966.

follows:

Mainline—Kansas City to Baxter Springs, 160 miles; branches—Weir
City to Cherryvalle, 50 miles; Arcadia to Coal Mines. 2 miles'; Baxter

Springs to Webb City, 22 miles; Rich Hill Junction

11,840,000
5,920,000
49,198,400
533,500

100
100

1,340

It connects the Pennsylvania, the Phila¬

Double-tracked and used for

36,000
11,840,000

1,000

roads, coming into Philadelphia.

A St. Paul.

59,000

100
100

592
592
592

Nelson Robinson, Vice-President.

281,000

....

$102,384. Stock, $500,000. Dividends 7 per cent in 1886. C. B. Thurs¬
ton, President, Jersey City.
Joliet Sc Northern Indiana.—Owns from Joliet, Ill., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Central
main line. Road opened in 1854 and leased to the Mich. Cent. Above
issue of bonds definitely guaranteed was given as a compromise in
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8
per cent per annum.
Junction (Philadelphia).—Owns from Belmont, Pa., to Gray’s

Wall st., New York.
V. 45, p. 135.)

1,350,000
572,000
1,642,000
800,000

1,000

....

1883
1881
1882
1882

62
62

250.000

....

....

....

390,000
490,000
320,000
5,700,000
6,971,000
500,000
423,000
1,620,000
219,000
400,000
6,600,000
2,750;000

....

1883

Payable

2,247,000
2.795,000

1,000
1,000

.

When

Cent.

4,648,000
2,750,000

....

....

Income bonds

2d mortgage, gold
do
Income mort., not cumulative
Lake Erie dk Western—Common stock
Preferred stock, 6 percent (not cumulative)
1st mortgage, gold ($10,000 per mile)
Lake Shore dk Michigan Southern—Stock
Guaranteed 10 per cent stock

500

Rate per

3,192,000

*

.

do

Outstanding

$1,000,000

1883

Allegany Cent., 1st mort., gold, payable at 105...

Amount

$1,000
1,000

....

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Miles
Date Size, or
of
Par
of
see notes
Road. Bonds Value.

Kansas City Belt—1st mort., coup, (for $2,500,000)
Kansas City Clinton dk Spring. 1st M., gold, guar...
Pleasant Hill & D6 Soto, 1st mort., gold
Kansas City Fori Scott dk Gtilf—Stock, common

Ferry, Pa., about 4 miles

[Vol. XLV.

great favor by giving immediate notice of any error discovered In tbese Tables.

DESCRIPTION.

do

SUPPLEMENT

INCOME ACCOUNT.

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

Total disbursements
Balance

1884.

1835.

1886.

$922,107

$847,071

$318,487

$309,621

$920,693
$332,325

$62,074

$61,210
255,250

$55,045

69,853

33,529

256,880
50,402
$369,356
def. 50,869

$386,313

$88,574

def. 76,692 surt.’43,751

f Interest not deducted.

-<V. 43, p.634,746,774; V. 44, p. 211,369, 551, 653; V. 45, p. 112, 372,
373.)
Keokuk Sc Des Moines.—Owns from Keokuk, la., to Dos Moines,
la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
Moines Valley Eastern Div., sold in foreclosure October 17, 1873.
The property was leased for 45 years from Oct. 1, 1878, to the Chicago
Rock Island A Pac. RR. on the terms following : that the lessee pay 25 per
cent of the gross earnings to this company, but guarantee the interest
nor the principal) on the preTent bonds.
The stock is $1,524,600 of 8
per cent preferred and $2,600,400 of common, a majority of which is
held by the lessee. In the year 1885-86 gross earnings were $458,050,
and rental, at 25 per cent, $114,512, leaving $22,987 deficit on theiuterest

charge paid by lessee.

Keokuk Sc Western—Road owned from Alexandria, Mo., to Van

Wert, la., 143 miles; operates Keokuk to Alexandria, 5 miles; total,
148 miles; was formerly the Mo. Iowa A Neb., part of the Wabash sys¬
tem sold in foreclosure Aug. 19, 1886, and reorganized under this
title. Stock $4,000,000. A 6 per cent note secured by mortgage was

In Sept., 1887, the Centerville Moravia A

2,546,525

2,539.338

988,218

1,063,811
2,510

1,042,145
$
166,081

988,218

1,066,321
$

$267,304; net earnings, $85,707. F. T. Hughes, Pres’t, Keokuk,
la.; G. H. Candee, 52 William Street, N. Y., Vice-Pres’t. (V. 44, p. 808 ;
V. 45, p. 166, 304.)

201,123
76,212

213.078
109,625

177,236
214,187
111,477

Kings County Elevated.—Line of road on Fulton Street, Brook¬
lyn, to city limit'1, about 6 miles, of which 2 miles are built and remainder
ia progress. After litigation, and a decision by Court of Appeals in its

27,395

given, pt.vable at will.
Aibia road
tions under

From Dec. 1, 1886. (commencement of opera¬
reorganization), to Sept, 30, 18S7 (10 mos.). gross earnings
was

leaded.

were

Total income

Disbursements—
Interest on bonds
Leased lines interest..
K. C. 8. A M. proport’n.




837.668

$
173,203
184,003

25,099

$
162,546

1887.J

November,

Subscribers will confer a

great favor by giving

DESCRIPTION.
For

explanation of column
on

first page

headings, &c., see notes

of tables.

do
do

do
do

Date
Size, or
Par
of
Road. Bonds Value.

Consol. 2d mort., do. (for $25,000,000)
Lake Shore dividend bonds
3d mortgage

(C., P. & A. RR.)

864
864
864
864
258
95
88
62
37
58

per cent) coupon.
do
do

registered

coup. A reg.

registered bonds..

bonds
Det. Monroe & Tol., 1st mort., coup., guar
Kalamazoo & White Pigeon, 1st mortgage
Kalamazoo Allegan & Gr. Rapids, 1st mortgage...
Kal. Allegan & Gr. Rapids, stock, 6 p. c. guar
Jamestown & Franklin, 1st mortgage
Buffalo & Erie, mortgage

•

Franklin, 2d mortgage
Mahoning Coal, pref. stock, guar
do
1st mort. bonds guar..

Jamestown &

Lawrence—Stock

'

1st mortgage

Lehigh <6 Hudson River— 1st mortgage,
Warwick Valley, 1st mortgage

gold

—

2d mortgage

do

Lehigh <6 Lackaicanna— 1st

Immediate notice of any
error discovered in these
INTEREST OR DIVIDENDS.

Miles
of

Continued)—

Lake Shore <& Mich. Southern—(
Consoi. 1st mort., (sink, fund, 1

& 2d mortgages

Lehigh Talley—Stock ($106,300 is pref.)
1st mortgage, coupon and registered

2d mortgage, registered
Consol, mort., gold, $ & £ (s. fd. 2 p.c. y’ly) cp.
Easton & Amboy. 1st mort., guar.(for
Delano Land Company bonds, endorsed

A reg.
$6.00C,000)

Little Miami- -Stock, common
Street con. 1st M. bds (jointly with Cin.& Ind.RR.)
Renewal mortgage
Little Rock
Fort Smith—1st M., landgr. sink. fd...
Little Rock & Memphis—First mortgage, gold
c

•

•

1870 $1000 *
1870
1,000 5
1870
1,000
1873
1,000
1869
1,000
1867
1,000
500 Ac.
1868
1876
1,000
1869
1,000
1868
1,000
....

*

51
51
43
43
22
17
41
22
22
25
346
101
101

232
60
3.93
_

84
165
133

1,000

1869

1,000

18S4

Amount

Outstanding

840,000
610,000
298,000
500,000

2k

920,000

2,784,000
924,000
400,000

50

372,6 40

1,500,000
500,000
314,000

1879

500 Ac.
1.000

145,000

....

....

1864
1882
1875
1887

800,000
240.000
600.000

1,000

33,112,800
5,000,000

50

1,000
1,000

6,000,000

14,257,000
4,500,000

1,000

1,000
1,000

1.395,000

50

4,837,300

1,000

250,000

J. A D.
A. A 0.
A. A O.
A. A O.
F. A A.
J. A J.
J. A J.
A. A 0.
J. A J.
J. A D.
J. A J.
J. A J.

5
2
7
6
6
6
7

Q- J.

F. A A.

J.
A.
A.
J.

J.
O.
O.
D.

J. A D.
M. A 8.
J. A D.
M. A N.
J. A J.

Bonds—Princi¬

pal, When Due.
Stocks—Last
Dividend.

Payable, and by
Whom.

Coupons are paid by
Treasur’r at Gr’nd
Central Depot, N.
Y., and registered ^
interest by Union
Trust Company.

July 1, 1900
Julv 1, 1900
1887 to 1890
Dee. 1, 1903

April 1, 1899
Oot. 1, 1892
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1888
Oct.
1, 1887
Var.to J’ly,’97
June 1, 1894

July 1, 1887
July 1, 1934
Oct. 2. 1887
Pittsburg Office.
N. Y., Winslow, L. A Co. Aug., 1895
July 1, 1911
N. Y. Nat. Ex Bank.
1899
do
do
1911
do
do
Dec. 1. 1907
Philadelphia.
Oct. 15. 1887
Philadelphia, Office.
June, 1898
Reg. at office; ep.B’kN.A
N. Y. Union Tr.
do
do

Co.

Philadelphia, Office.
do
do
do

do
do
do

Sept., 1910

1898 A 1923
1920
Jan., 1892

Sept. 10, 1887
Cincinnati.
1894
J. Cinn., Lafayette Bank.
N. N. Y., Bank of America. Nov. 2, 1912
Jan. 1, 190N.Y.. Mercantile Co.
J.
Sept. 1, 1937
New Y"ork.
S.

Q.-M.

1,000

1,500,000
2.314,500

7

1,000

3,250,000

5 g.

offered for sale by Vermilye
$1,000,000. President, Jas. Jour(V. 41, p. 421; V. 45, p. 25, 60u.)
Kingston Sc Pembroke,—Owns from Kingston, Ontario, Canada,
to Renfrew on the Canadian Pacific RR., 104 miles; branches, 30 miles;
Bonds are redeemable on notice at 105 Offered in
total, 134 miles
New York, in 1887 by R P. Flower & Co. Stock, $4,500,000; par $50.
Gross earnings, lb86, $148,=>63; net, $48,348; fixed charges, $34,320 ;
surplus, $14,028. See full statement in V. 44, p. 402.
(V. 44, p. 302,

A
A
A
A

Q.—J.

lk
6
7
6
5
7
2
6
5

500 Ac.

favor, the work went on, and bonds were
&Co. in July, 1887. St uk paid in,
dan ; Treasurer, Jas. H. Frothingham.

Tables.

<> J.AJ.
1 Q--J.

5
7
7
7
7
7
7
8
3
7
7

50

1868
1870
1873
1880
1872

Payable

849.000

1,000
1,000

1381
1877

Cent.

24,692,000
1,356,000

1865
1881

....

When

7

1,000

Where

Rate per

<R1 <=; GQ1

....

1863
....

61

BONDS

RAILROAD STOCKS AND

J.
M.
T.
M.

A
A
A
A

^-6 mos. ended June 30.—*
1887.
1886.
$4,443,860 $6 9*1,734 $8,642,417

^-Quar. ended June 30.-n
1887.
1886.
Gross earnings
Oper. exp. A taxes.

$3,426,530

2,419,431
4,227,985 4,827,718
Net earnings
$1,281,925 $2,024,429 $2,703,749 $3,814,699
Other income
45,210
63,774
45,904
45,904
Total income
$1,327,829 $2,069,639 $2,749,653 $3,878,473
1,094,253
1.097,455
Charges
2,177,579 2.122,455
401,4 02.)
Surplus.
$233,576
$972,184
$572,074 $1,756,018
Lackawanna Sc Pittsburg.—A consolidation in April, 18S3. of
The annual report for 1886 was published in V. 44, p. 583. containing
the Allegany Central and the. Lackawanna & Pittsburg. Road operated
from Lackawanna Junction, New York, to Perkinsville, 41 miles; the tables below, showing the earnings and income account for a series
Swain’s to Nunda, 12 m.. and Glean to Angelica, 30 m.—total, 92 miles. of years:
ofekations and fiscal results.
The last-named line is 3 ft. gauge anil the others standard gauge. Stock
1883.
1884.
1885.
1S86.
$5,000,000, of which $1,500.000 is preferred. In 1884 Company became
embarrassed and in Dec., 1884, a receiver was appointed, and in Feb.. Miles operated
1,340
1,340
1,340
1,340
1886, wTas authorized to borrow $5* ,000. Earnings in 1885-6. $ 0,943;
Operations—
deficit, $17,859. Geo. I). Chapman, Pres’t and Receiver, New York. Pass’ger mileage.... 215,715,155 190,503,852 176,830.30,8 191,593,135
Rate p. pass. p. mile
2-196 cts.
2 058 cts.
2-098 cts.
2-170 cts.
Lake Erie & Western Railrort/7.—(See Map—Owns from San
dusky, O.. to Peoria. Ill., and brunch to Minster. 430 miles, and from Fr’glit (t’ns) mileage * 1,689,512 * 1,410,545 * 1,602,567 * 1,592.044
0-728 cts.
0-652 cts. 0’553 cts.
0-639 cts.
Indianapolis to Michigan City, 162 n iles ; total, 592 miles. This is the Av. rate p. ton p. m.
Earnings—
$
$
$
$
new company formed in 1887 alter foreclosure (oil Dec. 14, 1886,) of
4,736,088 4,133,729 3,639,375 4,020,550
the Lake Eiie A Western railway, which had been made ui> by a con¬ Passenger
12,480,094 9,358,817 9,031,417 10,329,625
solidation, Dec. 12,1879, of the Lafayette Bloomington & Miincie and Freight
1,297,474 1,351,033
1,462,713 1,509,280
the Lake Erie A Western. This company in March, 1887, purchased the Mail, exp., rents, Ac.
Indianapolis Peru A Chic, road, 162 miles (formerly part of Wabash).
The capitalization is at the rate of $10,0 0 per miie ol bonds, an l $20,- Total gross earnings 18,513,656 14,843,584 14,133,505 15,859,455
$
$
$
000 in common and $2o,000 in preferred stock per mile.
Operating Expenses—
$
2,095,492
1,532,252 1,614,777 2,014,044
From Feb. 1 to Aug.-31 (7 mos.) in 1887, gross earnings were $1,- Mamt’ce of way, Ao.
Maint. of equipment.
1,347,379 1,340,291
990,907 1,111,329
153,750, against $986,342 in 1886; net, $468,780. against *234,( 53.
Transports exp’nses
6,592,742 5,380,166 5,277,444 5,192,943
C. R. Cummings, Chicago, Pre>’t; C. 8. Brice, N. Y., Vice-Pres’t.
485.946
530,236
521,543
518,668
-(V. 43, p. 12, 49, 66, 132, 274, 431. 607, 634, 671, 746; V. 44, p. 22, Taxes
529,269
Miscellaneous t
792,476
588,231
668,398
90,118, 211, 401, 527, 553, 808 ; V. 45, p. 572.)
Lake Shore Sc Michigan Southern.—Line of Road—Buf¬
Total
9,133,521 9,287,537 9,731,622
11,001,853
falo, N. Y., to Chicago, Ill., 540 miles; branches owned, 324 miles. Other
Net earnings
7,511,803 5,710,063 4,845,968 6,127,833
lines owned as follows: Detroit Mon. A Toledo, 62 miles; Kalamazoo A
P.c.of op.ex.toear’gs
61*53
59 43
. 65 71
6136
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 160
miles. Roans leased are as follows: Kalamazoo Allegan A Gr. Rapids,
Three ciphers omitted.
58 miles; Jamestown A Franklin, 51 miles; Mahoning Coal R., 43 miles :
\ Includes damage and loss ot freight and baggage, personal injuries,
Detroit Hills. A Southwest., 65 miles; Fort Wayne A Jackson, 98 miles;
law expenses, rents payable and hire of cars.
total, 315 miles. Total road owned, leased and operated, 1,340 miles.
INCOME ACCOUNT.
Organization, Ac.—Tliis company was a consolidation of the Lake
1886.
1885.
1884.
1883.
Shore RR. and Michigan Southern A North. Indiana RR. May 27, 1869,
$
$
$
$
and the BuffaloA Erie RR. August 16, 1869. The consolidated line em¬
Receipts—
6,127,833
4,845,968
5,710,063
braces the former roads of the Cleveland A Toledo anil the Cleveland
7,511,803
Net earnings
110,752
Painesville A Ashtabula railroads.
The stocks of some of the railroads Interest, divid’s, Ac.
158,540
which entered into the consolidation forming the Lake Shore A Michigan
6,238,585
4,845,968
5,710,063
Southern road had been largely increased by stock distributions, and on
7,670,343
Total income....
the lines between Buffalo and Toledo the capital of several of the
Disbursements—
443,900
439,168
446,450
471,876
companies had been several times increased.
The roads leased Rentals paid
3,326,480
3,374,938
3,220.870
at fixed ri ntals are the Kal. Allegan A Grand Rapids, Jamestown Interest on debt
3,132,120
53,350
53,350
53,350
A Fianklin
and Mahoning Coal.
The Detroit Monroe A Tol. Dividends
53,350
250,000
250,000
Kalamazoo A White Pigeon and t lie Northern Ceniral of Michigan, are
Sinking fund
proprietary road* controlled by ownership of their stoJc. The Mahon¬
4,073,730
4,117,456
3,720,670
3,657,346
ing Coal RR. is leased and its'stock and bonds guaranteed. The New
Total disbursem’ts
2,164,855
728,512
1,989,393
York Chicago A St. Louis road is controlled by ownership of stock. The
4,012,997
Surpl us for div’d....
989,330
2,473,325
Chicago A Canada Southern is also operated by the Lake Shore A Michi¬ Dividends
3,957,320
(2)
2,144,605

..

*

gan

South.

$533,500 carries 10 per
following dividends
in 1873,4; in 1874, 3k: in
1875,2; in 1876.34; in 1877, 2; in 1878, 4; in 1879,6k; in 1880,
1881, 1882 and 1883, 8 per cent each year; in ’84, 7: in ’85 and ’86, nil.
The range in prices of stock since 1870 has been: In 1871, 85k®11614;
1872, 8340984; 1873, 57k®97%; 1874, 6778®8458; 1875, 514®
804; 1876, 484®085s; 1877, 45®733g; 1878, 578®713«: 1879, 67®
108; 1880, 95® 13958; 1881,112^1354; 1882, 98® 1204: in 1883,
92431144; in 1884, 594®1044: in 1*85, 504®894; iu 18s6, 764
31004; in 1887 to Nov. 18, inclusive, S9®9-;4.
The first consolidated mortgage bonds are redeemed each year by
$250,000 contributed to the sinking fund. The above bonds of all
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $4,000,000 Dec. 31, 1886.
Operations, Finances. Ac.—The annual reports of this company are
models of clearness In all the statistical matter. The road is greatly

8tocks and Bonds.—The guaranteed stock of
cent dividends.
The ordinary stock lias paid the
since 1870, viz.: In 1871,8; in 1872,8;

competitive points,' and its
and 124,800 shares of com
St. Louis Railroad (a con
$6,500,000 of Lake S. A Mich
S. 2il consul, mortgage bonds issued to pay for it, making an interest
charge of $456,890 per annum.
In 1886 the company sold $840,000 first consolidated mortgage
bonds to redeem old bonds falling due, and this ot of the consuls bear
only 5 per cent interest anil may'be redeemed by instalments on Oct.
1 each year till 1890.
For the quarter and six months ending June 30, 1S37, the report was
dependent

on

through traffic, or traffic from

business is injured by any cutting of rates.
in 1882, 140,500 shares preferred stock
mon stock of
the New York Chicago A
trolling interest) were purchased anil

as

follows:




Rate of

sur

Balance

(5)

(8)

dividends...

55,677 def.483,932 sur.

surplus, $292,522 was
vouchers, Ac., at end of 1885.
*From this

GENERAL BALANCE AT
1883.

728,512 sr*l,175,525

applied to reduction of

CLOSE OF EACH FISCAL
1884.

1885.

$

$

pay-rolls,

YEAR.

1886.

$
70,048,600 70,048,600
17,300,000 17,300,000 17,300.000 17,300,000
Equipment
R’l est. A office prop.
365,780
365,780
365,780
354,167
Ch. A Can.So.bds., Ac.
715,000
715,000
715,000
715,000
Stocks owned, cost..
9,414,477 12,012,839 12,195,068 12,113,700
Bonds owned, cost
1,554,030
933,080
645,400
674,400
1,421,342
1,454,942 1,461,147 1,525,859
Advances
Materials, fuel, Ac...
1,221.178
966,311
673,474
596,430
Cash on hand
218,682
235,795 2,559,928
317,320
Uncollected earnings
582,545 1,249,858 1,588,590 1,216,840
Total assets
102,940,272 105,265,092 105,228,854 107,104,924
Liabilities—
$
$
$
$
Stock
50,000,000 50,000,000 50,000,000 50,000,000
Bonds..
44,466,000 47,716,000 47,466,000 47,216,000
Dividends
1,016,005
26,675
26,674 1,016,005
Other liabilities
2,506,589 2,975,161
1,131,670
839,148
4,£51,678 4,547,256 6,604,510 8,033,771
Profit and loss
Total liabilities.. 102,940,272 105,265,092 105,228,854 107.104,924
-(V, 43, p. 6, 23, 245, 634, 774; V. 44. p. 6, 22, 276, 401, 583, 693,
$

Assets—

Railr’d, build’gs, Ac.

70,048,600 70,048,600

..

714; V. 45, p. 5,

25,304.)




RA1LKOAD STOCKS AND

1887. J

November,

Subscribers will confer a

2d

Miles Date
Size, or
Par
of
of
Bonds
Value.
Road.

&c., see notes

170

River <b Texas— 1st mortgage

„

mortgage
Schuylkill—Stock

Little
Long

m

.

c*

extension

....

95
156
164
10

c*

main

c*
c*

2d mortgage

Consol, mortgage, gold (for $5,000,000)
New York & Roekaway, guar. int. only
Smithtown & Port Jefferson mortg., guar
Newtown & Flushing, guar, principal and

19

3*9

int

■R;<piir»iTiPiTit certificates

m

Long Island Oily <& Flushing—1st M
c*
Income bonds (cumulative) ($350,000)
c*
Consol, mortgage for $1,250,000, gold
c*
27
Los Angeles <£ San Diego—1st M. (for $2,800,000>..
112
Louisiana Western—1st mortgage, gold
72
Louisv. Evansv. <& St. Louis— 1st mort. E. R. & E...
255
1st mortgage, gold, for $2,000,000 (2d on 72 M.).
255
2d mort., gold, for $3,000,000.1st coup, due ’87..
23
Hunt. Tell City & C. RR., 1st M., gold, guar
c*
1,612
Louisville dt Nashville— Stock
840

110

172

Mort. on Ev. Hen. & N., gold
Collat. Trust, 3d M., gold, (payable at 110)
10-40 Adj. M., gold, coup, or reg. (red’ble aft.
1st mortgage on New

Orleans & Mobile RR

1,000
500
500
500

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

1,000
1,000
1,000
100

1,000
1,000

1880
1863
1881

783
141

$1,871,500
1,106,000

2,487,850
10,000,000
175,000
1,121,500
268,905
3,430,000
250,000

1877
1868
1871
1872
1879
1882
1884
1880

1,000
1,000
1,000
£200
£200

1,000
1,000
1,000
1.000

m
900,000

333,000

Pledged.
933,000
7,070,000
3,500,000
2,015,360
2,330,000
9.684,000

5,000,000
5.000,000

3*a

J.

& J.

A. Sc O.

& J.

Q.-F.
M. & N.
M. & N.
F. & A.

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

556,000
2,240,000

2,000,000
3,000,000
300,000
30,000,000
12,202 000

J.

S7 g-

60,000
600,000
312,000
'

7
7
1
7
7
7

600,000
150,000

1,000

....

1,079

’94)

50
50
500
500
100 &o.

»

1881
1881
1887
1880
1881
1881
1886
1886
1887

46
392
130
83
135

Memphis & Ohio, 1st mort., sterling, guar
Memphis & Clarksville br.. 1st mort., sterling—

m

1860
1868
1878
1881
1871
1871
1871

105*1
10\
188

General mort., gold, coup, or reg. ($20,000,000).
Lebanon branch extension, Louisville loan
Lebanon-Knoxville extension mort. ($1,500,000)
Cecilian Branch, 1st mortgage, sinking fund
Consolidated 1st mortgage

m

1,000

....

Amount

Rate per When Where
Outstanding
Cent.
Payable

$500&c.

1876
1881

31
341

Island—Stock

1st mortgage,
1st mortgage,

discovered in these Tables.
Bonds—Princt*

INTEREST OR DIVIDENDS.

explanation of column headings,
on first page of tables.

Little Rock Miss.

immediate notice of any error

great favor by giving

DESCRIPTION.
For

63

BONDS

6 g.
2 to 6 g.
6 g.
3
6 g.
6
6
7
7
7
6 g.
6 g.
6 g.
6 g6 g.

Q.—J.
A. & O.
M. & S.
M. & N.

Last

pal,When Due.

Payable, and by
whom.

paid Jan., 1882.

Lastpaid April, 1882.
Philadelphia Office.

N.Y.,Corbin Bank’g Co.
do
do
do
do
do
do
do

do
do
do
do
do
do
do

Stocks—Last
Dividend.

1,

Jan.

1906

1911

July 8,
Nov. 1,
May 1,
Mav 7,
Aug. 1,
July 1,

1887
1887
1890
1898

1918
1931

April 1,1901
Sept., 1901
May 1, 1891

M. & N. N.Y., Corbin Bank’g Co.
do
do
Jan. 1
do
do
M. & N.
J. & J. N. Y., Central Paciflo.
J. & J. N.Y., South Pac. RR.
Boston.
J. & J.
do
A. & O. 5
do
A. & 0.
do
A. & O.
F. & A
N.Y.,50 Exchange PI.
do
do
J. & D.
do
do
A. & O.
do
do
M. <fe S.
do
do
M. & 8.
do
do
A. & O.
J. & D. London, Baring Bros.
do
ao
F. & A.
J. & D. N. Y., 50 Exchange pi.
do
do
Q.—Mar
do
do
M. & N.
do
do
J. & J.

May
May
May
July

1, 1911
1, 1931
1, 1937
1, 1910

July 1, 1921
July 1, 1921
1926

1936
Oct. 1,
Feb. 1,
June 1,
Oct. 15,
March 1,
Mar. 1,

1927
1882
1930
1893
1931
1907

April 1, 1898
June 1, 1901
Aug. 1, 1902
Dec. 1, 1919
Mar. 1, 1922
Nov. 1, 1924
Jan. 1, 1930

road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the DayJunction, Fa., to Youngstown, O., ton & West. (Dayton to Ind. State line) and the Rich. & Miami (State line
Cantield Junction to Coal Fields, O., 4 miles; total to Richmond), and on Feb. 4, 1865, purchased the road from Xenia to
operated, 22 miles. The Lawrence Railroad was leased June 27, 1869, Dayton; these three roads go to form the branch of 57 miles given
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earnings, above. The partnership agreement was dissolved Nov. 30, 1868, and a
with $45,000 per year guaranteed as a minimum. Lease has beentrans- contract made by
which the Col. & Xenia road, including its interest in
ferred to Pennsylvania Co., by which the road is now operated. Gross the above-named branches, was leased to the Little Miami for 99 years.
earnings in 1885, $166,236; net, $74,123; rental from Penn. RR. and
On December 1, 1869, the Little Miami, with all its branches, <ko.,
interest received, $67,159; payments, $82,199. Grossin 1886, $210,991; was leased to the Pittsburg Cincinnati & St. Louis Railroad Com¬
net, $78,007; rental and interest, $84,396, less to Pa. RR., $7,629.
pany for 99 years, renewable forever.
The Pennsylvania Railroad
is a party to the contract and guarantees its faithful execution.
Lehigh Sc Hudson River.—This road was opened from Grey Company
Road is now operated by Pittsburg Cin. & St. Louis Railway Co.
Lease
count, on Erie road, to Belvidere, N. J., 63 miles, August, 1882.
Con¬ rental is 8 per cent on $4,837,300, interest on debt and $5,000
per
solidation April, 1882. of the Lehigh & Hudson River and the Warwick
annum for Little Miami Company’s expenses of organization; the fulfil¬
Valley roads. In addition to above there are $65,000 Wayawanda 6 per ment of the lessor’s lease obligation is also stipulated. In 1886, rental,
cent bonds due 1900 and $52,000 Lehigh & Hudson River 2d 6s,
due 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and &e., received, $684,129; payments, $668,677; surplus, $15,452. In
1885 rental, &o., $697,787; payments, $664,677; surplus, $15,452;
bondholders agreed to fund four coupons July, 1885, to Jan., 1887, in¬
loss to

Lawrence.—Owns from Lawrence

18 miles; branch from

Coal &
on bonds, $84,674.
In 1884-85 gross earnings $173,007. net, $65,012;
deficit under interest, &c., $20,162. Grinnell Burt, Pres., Warwick, N.Y
Lehigh Sc Lackawanna.—Owns from Bethlehem, Pa., to Wind
Gap, Pa., 25 miles; thence, in connection with the Wind Gap & Dela¬

clusive. In Dee., 1885, a traffic contract was made with Lehigh
Nav. Co. In 1885-86 gross earnings, $209,294; net, $81,993; interest

Railrond. to Bangor, Pa., 32 miles. It is operated by tbe Central
Railroad of New Jersey under a special agreement. Opened in 1867.
Of the above bonds, $100,000 are a 1st mort., and $500,000
ware

mort.

Capital stock, $370,500.

$12,723.

Gross

In 1886, net, $13,860.

Lehigh Valley.—Owns from

2d
earnings in 1885, $62,076 ; net,

Phillipsburg (Pa. Lire), N. J., to

Audenried,

Wilke8barre, Pa., 104 miles; branches—Penn Haven, to
18 miles; Hazle Creek Bridge to Tomhicken (and branches), 32 miles;
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc¬
tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles;
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
Wilkesbarre, 10 miles; State Line & Bull. RR., Monroeton to Berwick,
24 miles; also owns the Easton & Amboy RR., Amboy, N. J., to
vania Line, 60 miles; total operated, 346 miles.
This is one of the most important of the coal roads
Dividends on the
ordinary stock have been as follows since 1870: In 1871, 1872.
1874 and 1875,10 per cent paid; in 1876, 9; in 1877, 5^; in 1878, 1879
and 1880, 4 ; in 1881, 5^; in 1882, 682; in 1883 and 1884, 8; in 1885, 6;
in 1886, 4. Prices of the common stock In Philadelphia since 1977 were
as follows:
In 1878, 32%®42i4; in 1879, 33^®55; in 1880, 46®57^;
in 1881, 5712®6414; in 1882. 58^67%: in 1883, 63®73i4; iu 1884. 57

Pennsyl¬

1873,

®717s; in'85,541ah#6114; in

1886,55*4®62; in 18»7 toNov.18,54^®57 3i.

ends November 30. The last annual report was in tne
Chronicle, V. 44, p. 117. It is one of the peculiarities of the company’s
annual report that no general balance sheet is given. The earnings,
expenses and income account for the fiscal years ending Nov. 30, were:
The fiscal year

1883-84.

Earnings—

5,669,236
2,106,469

8,948,207

8,556,917

5.246,073

4,888,998

8,744.756
5,293,816

889.496

Passenger, mail, express, &c
Total gross

earnings

Operating expenses
Net

$

6,079,542
1,617,236
860,139

6,295,282
1,763,429

Coal freight
Other freight.,

1885-86.

1884-85.

$

$

969,05 L

$3,702,134 $3,667,919 $3,450,940

earnings

INCOME ACCOUNT.

H oo 00

oo rfi

1884-85.
$

*~li2rl 2

3,667,919

Receipts—
Net earnings
Other receipts

and interest

Total net income
Disbursemen ts —

Interest

on

debt

General, taxes, float’g int., loss on
Morris Canal,
Dividends*

depreciations, &c.

Total disbursements

Balance, surplus
*

Little Miami.—Owns from

3,450,940




Smith.—Owns from Little Rock, Ark., to

In Dec., 1874,
laud grant,
sold in
$510,000.
and land

uotes, $411,876.
In March, 1887, the

proposal was accepted by stockholders to ex¬
change four shares of stock for three of the St. Louis Iron Mountain
& Southern, and the road thus passed to the Gould interest and an ex¬
tension was put under way from Van Buren to Fort Gibson, in the
Cherokee Nation, and this company was consolidated with others.
(V. 44, p. 551.) In 1886 gross earnings were $723,348; net, $77,978;
interest on bonds, taxes, &c., $270,708; balance, surplus, $116,539.
Annual report iu V. 44, p. 585.
(V. 43, p. 125, 334, 487 ; V. 44, p. 275,
308, 434, 494, 495, 551, 585; V. 45, p. 642.)
Little Rock Sc

Memphis.—Owns from Little Rock,

Ark., to a

poiut on Miss. River, opposite Memphis. The Memphis & Little Rock
road was fold in foreclosure in 1872, again iu 1877, and again in 1887.
The present company was organized Sept. 1, 1887 and ail the old
bonds were to be retired with the above new mortgage bonds, making
the annual interest charge $16 2.50b per annum. Under the title Mem¬
phis & Little Rock, in issues of the Supplement prior to Nov., 1887, an
account of the road is given.
R. K. Dow, President, Claremont, N. H.
—(V. 45, p. 401.)
Little Rock

Mississippi River Sc Texas.—Owns
City, 113 miles; Tripps to Warren, 53

Rock to Arkansas

from Little
miles; Rob

Micawber, 4 miles; total, 170 miles. This com¬
reorganization of the Little Rock Pine Bluff &, New Orleans
Railroad and the Mississippi Ouachita & Red River Railroad.
Both
those companies received land grants and State aid bonds, and this com¬
pany is involved with others as defendant in the suits by Arkansas State
bondholders. The coupons due Jan. 1, 1883, wrere not paid, and scrip
was offered to bondholders for two years' interest to be funded.
Fore closure suits were begun in Nov.. 1885, aud in Feb., 1886, E H. Win
Chester and John Reed were appointed receivers.
A now plan of reor¬
ganization was referred to in the Chronicle of Oct. 30, 1886, p. 515.*
The road was sold Dec. 15, 1886, and sold again Jan. 28, 1887, and pur¬
chased, as reported, in the interest of Jay Gould for the nominal price of
$1,800,000. (V. 43, p. 515, 607, 618, 738; V. 44, p, 22, 59,185, 277.)
Little Schuylkill.—Owns from Port Clinton to Tamanend, 28
miles; branches, 3 miles; total operated, 31 miles. The East Mahanoy RR., was leased Jan. 12,1863, for 99 years, and sub-leased to Pliila.
<fc Reading July 7, 1868. The Little Scbuykill Railroad is leased to the
Philadelphia & Reading Railroad for 9 3 years from July 7, 1868, at a
Roy Junction to
pany was a

fixed annual rental

$

4,400,263
$

2,057,207

2,059,541

473,355

2,372,242

650,385
1,660,234

4,902,804
37,474

4,370,160
30,103

4,061,735
40,251

4,940,278

732,344

651,046

pref. and 5 on
V. 45, p. 500.)

Cincinnati, O., to Springfield, O., 84

branch, Xenia, O., to Dayton, O., 16 miles; leased, Columbus A
Xenia RR., Xenia to Columbus, O., 55 miles; Dayton & West. RR., Dayton, O., to Indiana State Line, 38 miles: Ohio State Line to Riclim’d, Ind.,
4 miles; Cincin. Street Conn. RR., 2 miles; total operated, 198 miles. The
Little Miami Railroad proper extends from Cincinnati to Springfield, but
the portion between Xenia and Springfield is now operated as a branch ;
for the remainder of the main line, as given above, the Col. & Xenia
miles;

Little Rock Sc Fort

Fort Smith, 165 miles; branches, 5 miles; total, 170.
the property (then 100 miles), including the
was
foreclosure. There is outstanding funding coupon sciip for
The lands unsold Jan. 1, 1887, amounted to 609,981 acres,

Island.—Owns from Long Island City, N. Y., to Green
N? Y., 95 miles; branches, 82 miles; total owned, 177 miles.
4,101,986 Leased—Smithtown & Pt. Jefferson RR,, 19 0 miles; 8tewart RR. to Bethpage, 14*5; Stewart RR. to Hempstead, 1-8; New York & Roekaway
$
RR., 8 9; Brooklyn & Jamaica RR., 9*6; Newtown & Flushing RR.,
2,048,201 3*9; Brooklyn
Montauk, 67; N. Y. Brook. & Man. Beaeh RR. and
branches, 20*1; Hunter’s Point & So. Side RR., 1*5; Far Roekaway
682,093 branch, 9*4; L. 1. City & Flushing RR. 14; Wbitestone Br., 4: Woodside
1,331,531 Br., 3*9. Total leased and operated. 165 miles. The total of all the

co-T

pref. and 8 on com.; in 1885, 10 on
in 1886, 10 on pref. and 4 on com.—(V. 44, p 117;

In 1884, 10 on

com ;

1885-86.
$

lessee, $423,976.

Lons

port,

loads owmed and operated is 341*4 miles.
The Long Island Railroad went
1877, but m 1881 the company
The control of the company was sold to

into the hands of a receiver October,
resumed possession.
the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000.
In
Aucust, 1881, most of the holders of Smithtown & Port Jefferson
bonds and N. Y. & Roekaway bonds agreed to exchange their bonds for
the consolidated mortgage, bearing 5 per cent.
From Oct. 1, 1886, to June 30. 1887 (9 mos.), gross earnings were
$l,9i)l,089, against $1,814,151 in 1885-6; net, $682,235, against
$591,837; surplus over fixed charges, $273,655, against $203,611.
The financial information obtained Is from the statistics furnished the
State authorities.
Fiscal year ends

Sept. 30; for 1865-6 report was

in V. 43, p. 745

INVESTORS’

64

For explanation
on

of column headings, &o., see notes
first page of tables.

Louisville <6 Nashville-(Continued) 2d mortgage on New Orleans & Mobile RR
Bonds sec’d by pledge of 2d mort. S.& N.Ala.RR..
Pensacola Div., 1st mort., gold
Mobile Sc Montg. Div., 1st M., ($2,677,000)

Pensacola & Selma Div., 1st M., gold ($1,248,000)
Pensa. & Atl., m. gold, guar., $1,000,000 pledged.
Louis. Cin. & Lex., 1st mort.
do
2d mort.,coup., for $1,000,000
L. & N. mort. on L. C.& L., gold,$3,203,0 JO piagd
1st mort., gold, on branches, $15,000 per mile...
Car trust liens ($1,721 payable each month)
Henderson Bridge Co., 1st mort., gold
Louisville New Albany it Chicago—Stoeit
let mortgage, coup, or reg
Mort., gold, on Chic. Sc Iiul’polis Div.,coup, or reg
2d mortgage, gold, coup, or reg
Consolidated mortgage gold (for$L0,000,000)....
Louisv. N. 0. it Tex— 1st M , g., for $16,900.000..c^
2dmort. income bonds, cum. (payable at 105)..c *
Income bonds (not cumulative)

Maine neu tral—Stock
1st mortgage, consolidated
Collateral trust bonds for Mt. Desert Branch

Sinking fund 10-20 gold bonds
Bonds ($1,100,000 loan) A. Sc. K. RR..

1882-83.
Miles

351
Earnings and Expenses—
$
Passenger earnings
1,695,177
Fr< igbt earnings
71*,743
operated

Miscellaneous
Gross

Exj

enses

earnings

earnings
and taxes

271,169

2,685,089
1,683,814

Net earnings
Lease rentals
There

are

1880
1880
1881
1881
1880
1881
1881
1881
1867
1877
1881
1887
1882
1881

Long Island City Sc

....

.

Pledged.
2,000,000
2,850,000

100 Sec.

1,000
1,000
1,000
100

617
288
158
446
520
513
513

1880
1881
1883
1836
1886
1836
1884

....

21
527
304
41

....

1372
1883
1385

1860-1
1870
1868

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

1,000
20
100
100 &c.

600,000
3,603,300
4,176,400
694,000
599,000
-

....

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

1884-85.

1885-86.

354
$
1,759,597
720,6 30
276,005

354
$
1,807,346
727,623
291,069

342
$
1,878,447
798.817
317,508

2,756,232

2,826,478

2,994,772
1,795,252 1,872,325

896,727

1,031,226

1,122,447

287,698
190,876

297,559
207,922

304,063

312,335
mortgage, $238,000, 5s and 7s; time loans
(V. 43, p. 191, 745 ; V. 44, p. 212, 586; V. 45

Flushing.—Road from Long Island City to

Angeles Sc San Diego.—Florence to Santa Ana, Cal., 27
Leased to Cent. Pac., and rental in 1886 was $33,374.
Capital
stock, $570,800. Clias. Crocker, Pres., Sau Francisco.

Louisiana Western.—(See J lap of So. Pac )
Owns from Lafayette
La., to Orange, Texas, 112 miles, leases extension in Texas, 7 in.; total
112 miles. Leased and operated by the South. Pae. Co., being part of the
through line between New Orleans and Houston. From Jan. 1 to Sepn.
30, in 1887 (9 mos ), gross earnings were $607,836, against $169,257
in 1886; net, $288,049, against $236,958.
In 1886 gross earnings
were $644,689; net, $3 29,207.
Surplus over interest and all charges,
$163,559. Gross earnings for year 1885 were $627,317; net, $343,445.
StocK is $3,360,000.
(V. 43, p. 133, 163; V. 44, p. 344, 369, 620.)

Louisville Evansville Sc St. Louis.—Line of road. New Albany,
Ind , to Mt. Vernon, Ills., 182 miles; branches to Jasper A Gentry ville, 72
miles; trackage, Louisville, Ky , to New Albany, Ind., 6 m ; cotal oper¬
ated, 260 mites; opened Oct., 1882.
The road was formerly die
Louisville New Albany * St. Louis, foreclosed in 1878.
In Oct., 1881,
a consolidation was made with the Evansv. Rock port Sc Eastern, and the
900,000 of E. R. & E. 1st mortgage bonds stand as a prior lien on that
ivision. The foreclosure sale was made June 9, 1886. The plau of re¬
organization was in V. 41, p. 720, by which 1st mortgage bondholders
took new second mortgage bonds nearing no interest in 1886, 2 per
per cent in 1-187 and 18*8, 3 percent in le8 », 4 per cent in 1890, 5 per
centinlBH and 6 per cent thereafter, and a first mortgage of $2,000,000
.was issued as a prior lien.
T ie stock is $1,500,000 pref. 5 per eent, non©umulative, an 1 $3,500,000 common; the par of all shares is $100. The
Huntinburg Tell City & Cannellton RR. (24 mile?) bonds are guaran¬
teed by this C >. In 1885-6 gross earnings were $786,229; net, $213,Til 1834-85 gross earnings, $716,119; net, $142,224.
357.
(V. 43, p.
125, 274, 302, 431, 452; V. 45, p. 142, 304.)

Louisville Sc Nasliville.—(See Map.)—Line of Road.--Main
line—Louisville to Nashville, 185 miles; branches—Junction to Bardstown, Ky., 17; Junction to Livingston, Ky., 110; Livingston to Jel-

ioo, Ky., 61 ; Montgomery to Mobile, 179; New Orleans to Mobile. 141;
branch to Pontchartrain. 5; Paris, Tenn. to Memphis, 259; East St.
Louis, Ill., to Evansville, Ind., 161; June., 111., to Sliawneetown, Ill., 41,
Belleville, Ill., to O’Fallon, Ill., 6; Pensacola, Fla., to Pensacola Junction;
Fla., 44 : branch to Muscogee dock, 1; Louisville, Ky., to Newport. Ky.,
109; Junction to Lexington. 67; Louisville II. Cr. * W’port. (n. g.), 11;
Selma to Pineapple, Ala., 39; Henderson to Nashville, 135; Junction
to Providence, 16; Pensacola extension, 26 ; total owned, 1.612 miles;
leased and controlled—Junction to Glasgow, Ky., 10; Nashville to
Decatur, 119; Decatur to Montgomery, 183; Junction to Wetumpka, 6;
Junction to Shelby ville, 19; Louisville Transfer, 4; No. Div. Curnb. *
Ohio. 27; Lebanon to Greensburg, 31
ELkton to Guthrie. 11; total
leased and controlled, 410 miles; total operated June 30, 1887. 2,023
miles. After July 1, 1887, t:ie e irnings of 79 miles of the leased roads
ceased to b * included in L & N earnings, and the Birmingham Min ral
road. 11 miles, was absorbed, making total mileage operated O jr., 1887,

1,955 miles.

the Richmond Branch (leased to Kentucky Central). 34
miles, and the Cecillau Branch (leased to Ches. O. Sc So \V.), 46 miles,
and controls, by ownership of a majority of the stock, the Nashville
owns

miles: the Owensboro & Nashville, 88

miles; the Pensacola & Atlantic, 161 miles; the Nashville & Florence
RR., 56 miles ; Birmingham Mineral Railroad, 11 miles, and Henderson

Bridge and connecting track, 10 miles—total, 1,006 miles; also, as joint
Railroad
and its auxiliaries, 679 miles. Grand total of roads owned, leased and

lessees with the Central of Georgia, is interested in the Georgia

892,000
50,000
1,350,000

431,000
1,959,000
5,000,000
3,000,000
2,300,000
855,000
3,500,000
11,140,000
8,117,000
10,000,000

1,000

Los
miles.




Payable

Pledged.

1,000
1,000
1,000

282,466

Chattanooga A St. Louis RR., 600

When

Cent.

590.000

1,000
1,000

Great Neck, 14 miles; branches, 4*8 miles; total, 18 8 m. This is a reoranlzation of the Flushing & North Side road, foreclosed December 11,
880. The stock is $500,000; par, $100.
The income bonds are pay¬
able at will. $912,000 consolidated bonds are reserved to retire prior
lien bonds. The company is liable for $25,000 of New York & Flushing
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee
taking 60 per cent of gross earnings and $17,500 for fixed charges. In
1883-84 gross earnings were about $213,000, of which 40 per cent to
this company was $85,035; in 18S4-5, rental $116,537; in 1885-6,
Rental, $102,495. Austin Corbin, Pres., New York City.' (V. 45, p. 53.)

Also

Rate per

$1,000,000
1.960,000
3,500,000
3,000,000

1,000
1,000

also real estate

$200,000, at 6 per cent.
p. 142, 212.)

Outstanding

1,000

1883-84.

1,859,505

Amount

$1,000

1,001,275
209,059

Interest

141
189
208
208
45
180
104
185
175
175
175
86

55
18
109

Extension bonds, 1870, gold
Maine Central loan for $1,100,000

Bonds—Prinol-

INTEREST OR DIVIDENDS.

Miles Date
Size, or
of
Par
of
Road. Bonds Value.

Where Payable, and
Whom.

pal,When Due.
Stocks—Last
Dividend.

by
if

1st M., gold, on ■Southeast.* 8t.L.RR.,coup.orreg.
2d mort., gold, on Southeast. & St. Louis RR., cp.

Lykens Valley—Stock

[VOL. XLV.

Immediate notice of any error discovered in these Tables.

Subscribers will confer a great favor by giving
DESCRIPTION.

SUPPLEMENT

1,100,000
496,500

756,800

-

1

6
6
6
3
6
6
6
6
7
7
6

g.
g.
g.
g.

g.

5 g.

6
6 g.
6
6
6
6
4
5
6

g.
g.
g.
g.

2*2
3

5*7
5

Is6 g.
7

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

J. N. Y., 50 Exchange pi.
O. 'London, Baring Bros.
S. N. Y., 50 Exchange pi.
S.
do
do
S.
do
do
N.
do
do
8.
do
do
do
A.
do
J.
do
do
do
do
O.
N.
do
do
do
N.
do
O.
Philadelphia.
& S. N. Y., 50 Exchange pi.

&
&
&
&
&
&
&
&
&
&
*
&
&

Jan.

1, 1930
April 1, 1910
March 1, 1921
March 1, 1980
Mar. 1, 1920

May 1, 1931
Mar. 1,

1931

Aug., 1921
Jan. 1, 1897
Oct. 1, 1907
Nov. 1, 1931
May 1, 1937
Apr.l, 1889-89
Sept. 1, 1931

J.

& J. N.Y., Nat.Bk.Commerce
do
do
i». * A.
do
do
F. & A.
A. * O.
do
do

July 1, 1910
Aug. 1, 1911
Feb. 1, 1888

\f. * S. N. Y., R. T. Wilson & Co.
M. & 8.
do
do
M. & S.
do
do
New York, Treasurer.
Q.-J.
F. & A.
A. * O. Boston, 2d Nat. Bank.
J. & D. Bost., Am.Loan* Tr.Co.
F. & A Boston, 2d Nat. Bank.
do
do
M’nthly
A. & O.
do
do
J. & J.
do
do

Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934

Jan. 1, 1916

Oct.
Feb.

2, 1887

15, 1887
April 1, 1912

June 1, 1923
Feb. 1, 1905
1890 to 1891
Oct.. 1900

July, 1893

,

controlled by ownership of stock, June 30, 1387. wa? 3.707 mi'es. In
1887 arrangements were made for extension of a line which will coaneot
with the Clinch Valley Division of Noffolk & Western.

Organization, Leases, &c.—The Louisville & Nashville

was

chartered

March 2, 1850, and opened between Louisville and Nashville.November.
1859.
The liabilities for interest on the auxiliary roads are treated
mostly a? belonging directly to the Louisville Sc Nashv. Co. The South¬
east. & St. Louis RR.,btvhich was reorganized after foreclosure of the
St. Louis & Southeastern, Nov. 16, 1880, is leased to the Louisville Sc
Nashville for 49 years, and the L. Sc N. issues its bonds as above,
secured on the road, about 210 miles long in Indiana and Illinois,
There is also $999,500 of S. E. & St. L. stock. The fiscal year of L.
Sc N. ends June 30. Annual election is held early in October.

Stock and Bonds.—At the close of the fiscal year (June 30) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stock dividend of
100 per cent was made, raising the amount then to $18,133,513.
All the dividends paid since 1870 were as follows: In 1871, 7 per
cent; in 1872, 7 per cent; in 1873, 7 per cent; in 1877, l1^ per cent;
in 1878, 3 per cent; in 1879, 4; in 1880, 8, and 100 per eent in stoek ;
in 1881, 6; in 1882, 3; nothing since.
Prices of the stock from 1872
to date have been:
In
1873,
50®79; in 1874, 53®59; in 1875, 361e®40; in 1876, none; in 1877,
26®41; in 1878, 353)39; in 1879, 35®89^; in 1830, 77® 174 ; In 1881,
79 ® 110ifj; in 1882,46*2® 100%; in 1883,405e®58i«; in 1884, 22^ ®51%
in 1885, 22®51%; in 1836,3358®69; in 1887 to Nov. 18, incl., 541e®7014.
The general mortgage of 1880 is for $20,000,000, of which the bal¬
ance unissued is reserved to pay off prior liens, and the mortgage covers
840 miles of road subject to such liens. The Louisv. & Nashv. LebanonKnoxvilte bonds of 1881 cover 110 miles, subject to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. Sc Atlantio
is a separate company and the bonds are not a direct liability of the
L. & N. Co., but principal and interest are guaranteed by L. & N. A

sinking fund begins Feb., 1389. The P. & A. has issued to the L. * N.
$1,000,000 land grant bonds pledged for advances to the P. & A.
The third mortgage trust deed of 1882 is made to E. H. Green and
John A. Stewart as trustees, and has a sinking fund of 1 per cent
annually, the bonds being purchased or drawn ana paid off at 110. These
bonds are also redeemable at anjr time at 110, and are convertible into
stock. Tile bonds are secured by a 3d mortgage on the road and by
pledge of a large amount of stocks-and bonds (see V. 45. p. 475), the
par value of bonds being $9,633,000 and stocks $18,529,700 ; total,
$28,162,700.
The 10-10 Adjustment mortgage bonds were issued in 1834, and
cover 783 miles of main line and branches, subject to the prior liens,
and arc a second lien on the trust securities pledged under the trust
deed of 1882. See V. 39, p. 409.
The Henderson Bridge Co. bonds are not a liability of the L. & N. The
bridge is owned by a separate company, with a stock of $1,000,000, of
which the L. & N. Co. holds $501,000; the Bridge Co. is guaranteed
gross receipts of $200,000 per year by the several roads using it.
The mortgage bonds of 1887 on branches are issued at $15,000 per
mile.
U. 8. Trust Co. is trustee of the mortgage, and the lien covers the
Cumberland Valley Branch, the Ind. ALa. Sc Texas RR. and others.
(V.
44, p. 751.)
Operations, Finances, *c.—1The Louisville & Nashville system has
been developed in its present extensive-form since 1879; the 100 per
cent stock dividend was declared in 1880.
Tiie annual report for the year ending June 3h 1887. was published
in the Chronicle, V”. 45, p. 474, and gave full details of the year’s
operations. Tne surplus net income over annual charges was $1,832,253, and the advances to other roads during the year amounted to

advances to the old roads in the system
claim payable by these several com¬
panies. The balance of the advanoes was made to the Birmingham
Mineral Riilroad Co., Nashville Florence & Sheffield Railway Co.. Cum¬
$1,426,490.

Of ibis the

amounted to $97,527, which is a

berland
Valley Branch, Bardstown Extension, and Princeton
and amounted to $1,328,962, which was for new construction

Branch,

and is a
strictly capital expenditure. To reimburse capital account for expen¬
ditures, the Louisville <fe Nashville KR. Co. issued and sold $1,350,000
L. Sc N. RR. Co. first mortg. five per cent 50 year gold bonds, the mort¬
gage being at the rate of $15,000 per mile, and a first and only lien
on the Cumberland Valley Branch, the Prince-ton Branch and the exten¬
sion of the Bardstown Branch.
Of dividends President Norton remarks : “Although last year’s earn¬
ings have been very satisfactory, it was deemed best not to declare any
dividend, as the necessity for the extension of branches and for new
equipment to moot the requirements of-increased business m ide it
desirable to keep your comp uiv in a strong financial position.”
From July 1, 1887, to Sept. 30, 1887 (3 mos.) gross earniugs were $4,-

134,132, agst $3 707,471 lnl885-6; net, $1,6*0,427, agst $1,586.s*91.
Fiscal year ends June 30.
For 183’8-87 the report was in V. 45, p.
471, 474 for the
Louisville & Nashville proper
1833-31.
1384-85.
1885-86.
1836-37.
Total gross earns
$11,351,093 $13,936,347 $13,177,018 $15,080,584
Oper’g ex. (exc’.rax.)
8,823,782
8,182,255
8,213,295
9,047.052
Net

5,527,311

earnings

Per ct. of

ex.

to earn.

61*48

5,754,092
58*71

4,963,723
62*33

6,033,532
59*99




szi&x

INVESTORS’

SUPPLEMENT.

VOL. XLY.

Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables,
DESCRIPTION.
For

:sLS

Miles
Date Size, or
Amount
of
explanation of column headings, Ac., see notes
Par
of
on first page of tables.
Road. Bonds Value. Outstanding
•

INTEREST OR DIVIDENDS.
Rate per
Cent.

Where Payable, and by
Whom.
Payable
When

Bonds—Princi¬
pal,^When Due.

Stocks—Last
Dividend.

Maine Gtntral-(Continued)—

European & North American (Bangor loan)
Leeds A Farmington Railroad loan
Androscoggin Railroad, Bath City loan
Portland & Kennebec, consolidated mortgage

Manchester <t Lawrence—Stock
Manhattan (Elev.)—Consol, stock

1869

$500Ac.

$1,000,000

1871
1866

633,000

71

1865

100 Ac.
100 Ac.
100 &c.
100
100

26
32
18
18
14
14
42
120
120
112
156
156
50
90

Metropolitan Elevated. 1st mortgage
do

56
36
30

2d M. (guar, by Manhat’n).

N. Y. Elevated, 1st M. (payable at 105 after 1896)
do
Debentures. coup
Marietta Columbus dt N.—1st M.,gold,(Mar.Mineral)
Marietta dt North, Georgia— 1st M., gold, $7,000p.m.
2d mort. ($6,000 per mile)
New 1st mortgage, gold ($16,000 per mile)
c *

Marquette H. dt o.—Common stock
Pref. stock (6 per cent div. guar, by D. 8. S. A A
1st mort., M.AO., coup, (int.guar.
r. byD.
b:
S S.A A
M. H. & O. mortgage (int. guar, by D. S. S. A A.)
f Bonds for extension, Ac., guar
M. H. & O. 1st mortg. on Mar. & West., guar
Memphis dt Charleston—Stock
1st & 2d. mort. extension bonds, Ala. & Miss. Div.

330 |
181

2d

mortgage, extended
Consol.,gold ($1,400,000 lstm.

on 93m. in Tenn.)
292
General mortg., gold
292
Mexican Central (Mexico.)— 1st mort., reg., gold
1,340
Income bonds, conv., not cumulative, reg
.

Coupon notes for interest funded
Debentures (secured by collateral) (V. 39, p. 733)
Mexican National—IstM., new, gold ($9,000 p. m).
2d M., ser. “ A,” g., inc. aceum (for $17,175.600).c*
do., ser. “ B,” g inc. non-ac. (for $17,175.000)...r
,

....

.

1878
1879
1876
1886
1885
1881
1881
1887

1872
1878
1883
1885

1,000
1.000

1,000
1.000
lOOAo.
1.000

1,000
l.OeO
100
100
100 Ac.

1,000
1,000

1,000

1884
1885
1887
1887
1887

_

_

—

1,000
1,000

1,000
1,000
100, Ac.
1,000
1,000
500&C.
500Ac.

425,000
1,166,700
1,000,000

24,638,440
10,818,000
4.000,000
8,500,000
1,000,000
650,000
686,000
480,000
800,0G0

J.
J.

l*fl
6
6
7
5
6
6
6
6
4
3
8
6
6
6

2,378,670

3,278,456
1,427,500
576,200

25

1854
1867
1877
1884
1881

6
6
6
6
5

1,500,000
1,400,000
5,312,725
2,155,000
105,000
2,264,000
1,000,000
41,170,000
8,'734, <>00
3,825,570
2,500,000
11,500,000
12,165,000
12,165,000

g.
g.
g.
g.

& J. Bost., Merch’ts’Nat.Bk.
& J. Boston, 2d Nat. Bank.
do
do
Q.-J.
A. & 0.
do
do
M. & N. Manchester and Boston.
Q.-J. N. Y., Mercantile Tr.Co
J. & J.
do
do
M. & N.
do
do
J. & J.
do
do
M. & S.
do
do
M. & N. N.Y., Farmers’L.AT.Co
J. & J. N.Y.,Boody,MeLel.ACo.
J. & J.
do
J. & J.
do
•

•mm

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

7
7
7 g.
6 g.
4 g-

3
10
10
0 g.
6 g.
6 g.

J.
J.
J.
J.
J.

A.
D.
S.
D.
O.

1884-85.

Income from invest's

$
5,527,311
272,833

5,754.092
198,591

Total income

5,800,144

5,952.683

309,450

379,845

67,000

58,333

4,207,223

4,026.543

113,090
11,000

116,242

117,095

49,299
7,542

44,815
10,297

55,480

4,643,727
||692,495

4,681,137
3,832,253

Receipts—
Net earnings

Disbursements—
Taxes

Rentals
Interest on debt
Divid’son L. & N., N.
AD.andM. A M...

Georgia RR. deficit..
Miscellaneous

8,377

Total disbursements.

1885-86.

$
4,963.723

....

4,716,145

tl,116,337

207,807
5,171,530

6,513,390

Deficit

365,317

4,260,310

j

$164,692totobeberefunded,
refunded,included
includedm surplus.
{$42,012
surplus.
in

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

1883-84.
$

Assets—

Road,equipment, Ac.
Timber &quar. lands

67,776,064
688,024
Stocks owned
t6.904,853
Bonds owned
4,050,673
Stks&bds. held in tr’tlT 9,527,878
Bills A acc’ts. receiv.
1,922,803
Materials, fuel, Ac..
762,273
Cash onhand
297,316
So. A No. Ala. RR...
1,565,968
Nash. & Dec. RR
599,478
Other roads §
1,172,928
C. C. Baldwin acc’tj1,005,929
Binking fund
50,000
Profit and loss

1884-85.

$
67,930,874
689,941
2.005,590
4,249,861
9,527,878
1,771,487
726,624
404,714
1,733,805
603,250
1,567,793
850,809
50,000
2,479,344

Total assets
Liabilities—
Stock
Bonded debt*
Louisville bonds....
Debentures
Bills payable
Interest

96,324,187

Miscellaneous
June pay-rolls, Ac..
Profit andloss

34,933

499,435
34,774

1,236,152
2,067,565

1,060,168

96,324,187

94,591,970

Total liabilities..

$

30,000,000
57,530,712
850,000
529,800
3,599,266
475,759

1885-86.

1886-87.

$
68,433.991
598,746
1,298,347
4,435,098
9,527,878
1,935,654
926,262
303,976
2,071,723

$
68,936,040
434,816
1,708,981
6,262.598
9,527,878
l,w51,439
1,044,803
1,375,143
178,432
632,140
2,230.943
850,808

618,148
635,978

850,808
2,068,666

94,591,970

93.705,275
$
$
30,000,000 30,000.000
61,958,31*4 61,355,254
201,000
850,000

189i279

Rentals, insurance and taxes.
Interest

4R229
501,528
34,327

1,571,937

95,034,024
$
30,000,000
61,999,596
377,796

504,929
327,918
1,287,874
535.911

93,705,275

95,034,024

*

The bonds deposited in the $10,000,000 trust have been deducted here
t Includes $5,000,000 L. & N. stock unissued.
t An open account, the company claiming that Mr. Baldwin is indebted
to it in this sum

11 Less $8,633,000 bonds pledged and $3,070,960 included in cost of

road.

£ Including construction of new roads.
-(V. 44, p. 59,185, 308,434,458, 586, 713, 751; V. 45, p. 26, 239, 304,

on car

Total

Albany Sc Chicago—(Sec map)—Operates from

New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
miles; Howland Junction to Hammond, Ind., 160 miles; Bedford, Ind.,
to Switz City, 43 miles; Orleans. Ind.. to French Lick Spr., 17Lj
miles; total owned, 509 miles; leased—Hammond to Chicago, 20 miles;
Howland’s Junction to Indianapolis, 4 miles; New Albany to Louisville,
5 miles; total leased, 29 miles; total operated, 617 miles. A lease for
999 years with Chicago & Western Indiana at $127,000 per year gives
entrance to Chicago.
The Louisville New Albany A Chicago was opened in 1852 and sold
in foreclosure Dec. 27, 1872, and reorganized without any bonded debt.
In Aug., 1881, consolidated with Chicago A Ind. Air Line, and stock
Increased to $5,000,000, giving 15 per cent increase to stockholders of

record Aug. 31.

The consolidated bonus of 1886 were made for the authorized amount
Of $10,000,060, of which $5,300,000 was reserved for the prior first

mortgages, $3,000,000 used to exchange for 2d mortgage bonds of
1883 and general mortgage bonds of 1884 outstanding, and the balance
$1,700,000 used for building new road, for improvements, &c. In June,
1887, all the car trust certificates were i aid off.
Fiscal year ends Dec. 31. The annual report for 1886 was in Y.
44,
p. 584. Earnings, expenses and charges have been as follows :
1884.

Gross earnings

Operating

expenses

Net earnings




$1,564,436

1885.

1886.

1,365,144

$1,680,454
1,332,035

$1,919,189

$199,292

$348,418

$640,661

1,278,528

July.

1908

Nov. 1, 1899
Jan. 1. 1906
Mar. 1, 1916

May 1,1915
July 1, 1911
July 1, 1911
Jan. 1, 1937
In 1883

Aug. 15, 1887
June 1, 1892
Mar. 1, 1908
June 1, 1923

April 1, 1925

1884.

1885.

1886.

$369,300
213,823

$369,300

50,000

50,000

$461,538
223,869
50,000

trust bonds..

217,951

charges....

$633,123
$637,251
$735,407
$533,831
$288,832
$94,747
Percentage of operating ex.
87*26
79*27
66*62
William. Dowd, President, N. Y.
(V. 44, p. 59,90, 342, 403 , 553, 5 8 4,
621, 713; V. 45, p. 437.)
Louisville New Orleans Ac Texas— (See map)—Line of road
Memphis, Tenn., to New Orleans, La.. 456 miles; Leland to Huntington,
Miss., 22 miles; Washington Co. branch, 35 miles-total owned, 513
miles. Leased -Clinton to Port Hudson, La., 22 miles; total
operated,
534 miles. This road was built in the interest of the Huntington system
of roads, and forms the connecting link in that system across the

Continent from Norfolk to San Francisco. The income bonds are a first
mortgage on 750,000 acres of land in the Yazoo Delta. The first mort¬
gage bonds are issued at $30,000 per mile on the main line and $20,000'
per mile on the branch lines. The second mortgage bonds are “ in¬

comes,” receiving interest only when earned; but interest only begins
interest is cumulative, with iuterest
after Sept., 1888, these bonds may be
paid off at 105. The Union Trust Co. of New York is trustee of the 1st
and 2d mortgages, and Edward H. Pardee and Albert Crolius of a new
land grant income mortgage which has been executed to take up the
old income bonds; but none yet issued. From Jan. 1 to Sept. 30, in 1887
(9 months), gross earnings were $1,351,787, against $1,092,533 in 1886;
net, $312,665, against $2.0,601. Gross earnings for year 18^6, $1,803,785; net, $551,222. Gross earnings in 1885, $1,390,717; net earnings,
$3u0,711.
Mr. R. T. Wilson, Pres., N. Y.
(V. 44, p. 60, 185, 308, 434;
V. 45, p. 512.)
to run Sept. 1, 1888 ; unpaid
thereon at the rate of 5 per cent;

Lykens Valley.—Owns from Millersburg, Pa., to WilliamstowD,
miles; branch, 1 mile; total operated, 21 miles.
It is a
coal road leased and operated by the Northern Central Railroad since
July, 1880, and previously by the Summit Branch RR. The lease is for
999 years from March 1,1866, and the rental is $62,500 per annum.
Pa., 20

Maine Central.—Mileage as follows: Mainline, Portland to Ban¬
gor, Me., via Augusta, 136 6 miles ; branches, Cumberland Junction to

Skowliegan, 907 miles; Bath to Farmington, 71*2 miles;

Crowley's

Junction to Lewiston, 47 miles; total owned, 303*2 miles. Leasea—
Burnham Junction to Belfast, 33T miles; Newport Junction to Dexter,
14 miles ; Browser Junction to Bucksport, 18*1 miles ; Bangor
to Vance-

boro, 114*1 miles; Penobscot Switch to Mt. Desert Ferry, 41*7 miles;
total leased, 221 mil3S
Total operated, 527*2 miles.
This was a consolidation in 1862 of the Androscoggin A Kennebec
Railroad and the Penobscot A Kennebec. In August, 1873, the Port¬
land & Kennebec, Somerset A Kennebec and Leeds &
Farmington rail¬
roads were also consolidated with the Maine Central.
There are also $58,000 5 per cent debenture bonds due 1894 and
$20,000 Shore Line 6 per cents, due 1923. The annual report of the
company was published in V. 43, p. 773, for the fiscal year ending Sep¬
tember 30.
FI8CAL RESULTS.

1882-83.
Total gross

1883-84.

1884-85.

1885-86.

$2,835,494 $2,816,373 $2,839,779 $3,001,076
Expenses and taxes.
1,839,707
1,750,710
1,730,902
1,820,740

earnings

Net earnings

$995,787 $1,065,663 $1,108,877 $1,180,336

457,471,472,474.

Louisville New

do
do
do

Nov. 1, 1887
Oct. 1, 1887

J. N. Y.,W. H.Bro wn A Bros.
Jan. 1. 1915
J.
do
do
1915
J.
do
do
Jan. 1, 1915
J.
do
do
Jan. 1, 1924
J.
Boston, Office.
July 1, 1911
do
July 1
July 1, 1911
J. & J.
do
July 1, 1889
J. & D.
New York.
Deo. 1,1927
J. A D.
New York.
June 1, 1927
M. A S.
do
July 1, 1917
do
April 1
July 1, 1917

Interest

6,033,532
479,858

370,814
15,000)
4,085,706 |

4,637,806
11,356,890
f $32,338 to be refunded, included in surplus.

Balance, surplus

1886-87.
$

do
do
do

July, 1891

April 1, 1895

&
&
&
&
&

INCOME ACCOUNT.

1883-84.

Boston, N. Eng. Tr. Co.

Jan. 1, 1894
July, 1891

INCOME ACCOUNT

Receipts—
Net earnings
Other receipts
Total income....
Disb ursements—
Rentals paid
Interest on bonds...

1882-83

1883-84.

1884-85.

1885-86.

$995,787
29,121

$1,065,663
10,421

$1,108,877
7,828

$1,180,336
7,400

$1,024,908

$1,076,084

$1,116,705

$1,187,736

$182,958
644.146

$189,000
661,395

197,522

215,532

$189,000
701,767
215,541

$189,000
707,130
215,578

$1,106,308
$10,397

$1,111,708

Dividends

$1,024,626 $1,065,927
$282
$10,157
-(V. 43, p. 102, 217, 334, 458, 618, 773.)

Balance

$76,028

Manchester Ac Lawrence.—Owns from Manchester, N. H., to
Methuen (State Line), 22*4 miles;
leased, Methuen Branch of the
Boston A Maine Railroad, 33* miles; total operated, 26 miles. Road in
operation since 1849. Methuen branch is leased at a rental of $11,000
per annum.
Company lays claim to a two-fifths interest in the Man¬
chester A North Weare RR., which is operated by Concord RR.
In June, 1887, the M. A. L. voted to lease its road for 50 years to
Boston & Maine at a rental paying 10 per cent dividends. The fiscal
year ends March 31.
Gross earnings in 1885-86," $177,802, net, $100,069. In 1886-7, gross, $172,524 ; net, $100,691.
(V. 44, p. 807.)

Manhattan Elevated.—Road operated, 32*39 miles. This was a
corporation formed (Nov. 24,1875) to lease and operate the two elevated

railroads in New York

City.

Its capital stock was $13,000,000, and

,

November,




1887.]

RAILROAD

STOCKS

AND

BONDS

67




November,

explanation of column headings,

Mexican

first page of

tables.

Ac., see notes

Nat.—(Coni’d)—3d mort. deb. (income)

...

M., gd.

Tex as-Mex lean, Corpus Ch.S.D.A R.G.. 1st
do
1st mortgage, gold ($15,000 p.

Michigan

m.)

Central—Stock

Consolidated mortgage ($2,000,000 are 5s)
M. C. Michigan Air line mortgage. ....
Michigan Air Line 1st mort., assumed by M. C—
M. C. bonds, mort. on Grand River Valley RR. ..
Kal. A So. JRav., 1st and 2d morts., guar
Grand River Valley, stock, guar
Detroit A Bay City 1st en’d. and bridge

180-23. 185-6.
M. C. mort. on Detroit & Bay City Railroad
Jackson, Lansing A Saginaw, consol, mort
Jackson Lansing A Saginaw consol, mort

Middletown JJnionville & Water Cap—1st mortg.
do
2d mort. guar
do
Milvo. Lake Shore <£

ext.

1880
1881

161
165

1,502
270
103
10
84
39
84
145
145
236
298
13

.

$3,000,000)..

Ashland Division, 1st mortgage, gold
8t. Paul Eastern Grand Trunk, 1st, gold,
Funding notes

Miles Date Size, or
Par
of
of
Road. Bonds Value.

int.guar.

.

....

1872-3
1881

^

85
40
56

16
65

mile)

*126
174

1883
1835
1885
1887
1886
1882
1882
1884
1880
1884

1,000
1,000

1,500,000

100

491,200
424,000

....

1,000

There are large claims pending against the
to property on their lines, and many of these
Court of Appeals’ decision was against the

1883-4.

..$6,726,359

1884-i.

1885-6.

3,881,949

3.967,983

3,960,191

Net earnings.. ..$2,841,410
1,381,713
Interest and rentals.

$3,032,584

$3,466,024

..

979.000

1896 7.

$8,102,662
4,970,450

1,806,393

$3,132,212
1,554 080

Balance
..$1,459,697 $1,573,541
1,560,000
Deduct di vidends...
1,170,000

$1,659,6 11
1,560,000

$1,578,132
1,560,000

$13,541

$9 >,631

$18,132

..

Surplus

..

$289,697

numbeifof passengers carried on
the gross earnings, since the

The following is a statement of the
the elevated railioads in Now Yoik, and

completion of the roads :
Passengers,
Earnings.
1878-79.. 46,045,181
$3,526,825
1879 80.. 60,831,757

75,585,778

86,361.029
92.124.943

—(V. 43, p.

4,612,976
5,311,076
5,973,633

Passengers.
1883-84.. 96,702.620
1S84-85.. 103,354,729

115,109,591
1886-87..158,963,232

6.386.506
49, 459; V. 44, p. 173, 244,

673.)

Earnings.
$6,723,832
7,000,566
7,426,216
8,102,662

621, 654; V. 45, p.272, 204, 611,

Marietta Columbus Sc Nortliera.—Road from Marietta,
Athens. 25 miles; Big Run to Joy, 12 m.: branch to Stuart, 4 in.,

O., to

to lie

Formerly the Marietta Mineral road, and name changed (no
foreclosure). From Jan. 1 to June 30, 1887 (6 months), gross earnings
were $22,479; net, $11,768.
Gross earnings in 1886-87 were $71,353;
net, $39,991. W. I’. Cutler, Marietta, O., President.
built.

1,430,000

1,000

1,459.043

..

923,000
200,000
500,000
650,000
225,000

1,000

in
surrender of

$7,426,216

180,000

1,281,000
1,000,000

520,000
200,000
2,155,000

....

elevated roads for damage
are before the courts. The
Company in the Lahr and

$7,000,567

150,000

250,000
2,000,000
500.000

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

Wagner suits re erred to in V. 44, p. 173.
In 1880 the debentures of the New York Elevated were issued for
advances made by the Manhattan Co. for new equipment, new construc¬
tion, tax arrearages, Ac.
The stockholders of the Manhattan Elevated RR. had the privilege
July, 1880, of taking $000,000 stock and $000,000 bonds of the Subur¬
ban Railroad Co. on certain terms. See V. 43. p. 49.
The reports for year ending Sept. 30 have shown the following income:
Gross earnings
Operating expenses.

3,576,000
1 943,000
1,100,000

1.000

companies, viz : For Manhat¬
York, 120 per cent; for Metro¬

politan, 110 per cent.

710.000

5,000,000
4,350,000

the holders of stocks in the other

85 per cent in new stock; for New

1,900,000

1,000

was to pay the interest on the bonds of the two elevated roads
and certain dividends. The original lease of May 20, 1879, guaranteed
10 per cent per annum on the stocks, but this lease was amended
October, 1881, by agreements among the three companies, which wprf
supplemented by an agreement of Nov. 14, 1881, for the
the stocks of the other companies, and the issue of new stocks by the
Manhattan Company; but this was never accepted by the Metropolitan
stockholders, and, after litigation, it was decided against the Manhattan
In June, 1884, a new compromise agreement was made and afterward
ratified by the stockholders of the three companies by which all liabili¬
ties were assumed, and new stock was issued by the Manhattan Com¬

tan,

960,000
1,380,000
18,738,204
200.000

.....

1885

$7,040,000

1.000

1,000

1881
1881
1882
1884

Amount

Outstanding

10,000,000

it

pany to

notloe of any error discovered In tbese Tables.

1,000
1,000

loo
100

(cumulative)

Milwaukee <£ Northern—1st mortgage
1st mortg. on extension ($17,000 per

1,000

1.000

1871
1880
1866
1871

Equipment

Convert, debentures for $2,000,000 gold
Ontonagon, 1st M.. gold (redeemable at 105) —c
Milwaukee & Lake Winnebago— 1st mortgage, gold.

l,000Ac
1,000
100

....

1872
1870
1870
’79-86
’69-70

577
577
346

West—Common stock

Preferred stock
Consol, mort., gold
Income bonds (not cumulative)
Equipment bonds
Michigan Div., 1st mortg , gold (for

Income bonds, gold
Debentures, gold

69

BONDS.
INTEREST OR DIVIDENDS.

DESCRIPTION.
on

AND

great favor by giving immediate

Subscribers will confer a

For

STOCKS

RAILROAD

1887.

Rate per
Cent.
5
7 g.
6 g.
2

7 & 5
8
8
6
8

2*3
8
5
8
6
5 g5
3
6 g.
6
8
0 g.
6 g.
6 g7
6
5 g.
6 g.

6 g.
5 g.
6 g6
6

When

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

Where Payable,
Whom.

and by

& J.
& J.
& A. Grand Central Depot.
& N. N. Y., Union Trust Co.
A J.
no
do
do
A N.
do
do
& S.
do
& N.
do
do
& J.
do
do
do
A N.
do
do
A 8.
do
do
do
A S.
do
A S.
do
A N. N. Y., N. Y. Susq. AW.
do
AD.
do

New York.
J. A J.
M. A N. N.Y., N. Bk. of Com’rce
do
do
M. A N.
J. A J. N. Y., S. 8. Sands A Co.
J. A J. N. Y. Bk. of Commerce
M. A S. N. Y. Bk. of Commerce
J. A J. N. Y.. S. S. Sands A Co.
do
do
J. A D.
do
do
J. A J.
do
do
F. A A.
do
do
A. A O.
New York A Boston.
J. A J.
do
do
J. A J.
do
do
A. A O.
J. A I>. N. Y.,Mercli.Exch.N.Bk
do
do
J. A D.

Bond*—Princi¬

pal,When due.
Stocks—Last
Dividend.

July 1, 1901
July 1, 1921

Aug. 15, 1887
May 1,1902
1,1*90
Nov., 1890
Jan.

Sept., 1909
’89-90
July, 1887
May 1,1902-3
Mar. 1, 1931
Sept. 1, 1891
Sept. 1, 1891
Nov. 1,

1911

1896

July 15, 1887
May 1, 1921
May 1, 1911
1892

July 1, 1924
Mar. 1, 1925
Jan., 1, 1913
1887-8
1890-95
Feb. 1, 1907

April 1, 1896
July 1, 1912
July 1, 1912
April 1, 1904
June 1, 1913
June 1, 1917

by consent April 29, 1887. Of the consolidated mortgage, $1,400,000
are secured by the old Tennessee State iien for $1,736,906, assigned to a
trustee, and thus stand higher in value.
In Sept., 1883, a large block of the stock was obtained by parties inter¬
ested in the East Tennessee Virginia A Georgia RR.,
1885, this and enough more to make a majority was put
Trust Co. for the E. T. V. & G. Co , giving them control.

and in Sept.,

in the Central

earnings were $423,1386; net. $137,942, against $119,708.
For the year ending June 30, 1887. gross earnings were $1,643,513;
net. $148,022. and in 1885-86 $1,323,529 gross and $386,315 net.
-(V. 43, p. 190. 368. 398. 516. 578. 671; V. 44, p. 22, 149, 300. 551,
713 ; V. 45, p. 26. 180, 239, 272, 304, 437, 613.)
From

July 1 to Sept. 30 in 1887 (3 months), gross

483, against $335.51 s in

1887, the mileage

Mexican Central (Mexico).—In May,
was—
Main line from Mexico City north, to El Paso del Norte 1,225 miles,
106 miles on Tampico Division, 11 miles on Guanajuato Branch, and 16
miles on the Pacific Division, and a short branch, 7 miles, to stone quarry,
made a total of 1,365 miles. Other work in progress.
The company was incorporated Feb. 25,1880, under the
of Massachusetts, and byr transfer the company holds the charter from
the Mexican Government, granted Dec. 5, 1874. for a road from Mexico

general law

City to Leon, and by modification including lines to Paso del Norte.
Guadalajara and Laredo. The company also has other rights granted
by the State of Chihuahua.
The company had a subsidy from
the Mexican Government of $15,200 per mile on most of the lines,
payable in “ certificates of construction to be redeemed with 8 per cent
of all duties produced at the maritime and frontier custom-houses of
the Republic.”
In June, 1885, the Mexican Government stopped pay¬
ing all subsidies, but resumed July, 1886, on a basis of % of 1 per cent,
inen ased to 1 p. ct. Jan. 1, 1887, and after that 1 per cent every six
months, till July, 1890 the full 8 per cent is reache d The incomes are
convertible into stock at par. The stock is $35,000,000.
The above 10 per cent coupon notes are secured by deposit
and by an amount of Mex. Gov’t subsidy certificates

of coupons,

equal to the prin¬
cipal and int. of tlie coupon notes. The total amount of 1st mort. bonds
issued stood in May, 1887, at $43,670,000, and $2,500,000of these were

deposited as collateral for the debenture bonds.
Tn Dec., 1885, it was proposed to reduce the interest on 1st mortgage
bonds to 4 i er cent, with‘an agreement to pay the remaining 3
per cent in any year when earned, hilt not to be cumulative, and
nearly all the bondholders have assented to this arrangement and ex¬
changed tlieir 7 percent coupons for a sheet of 4 per cents. In July,
1886, and Jan., 1887, all coupons falling due were paid 8a in cash and

April, 1887,
fell due.
$3,434,219, against $2,690,771 in 1886; net, $1,498,336, against $844,137 (in
Mexican currency’).
The annual report for 1886 was in V. 44, p. 619, 625. showing gross
earnings of $3,857,705; net. $1,404,617, equal in U. S. money to $1,102,071: subsidy collections in 1880, $58,437. Total subsidy collections
from the beginning, $3,782,492, equal to $3,237,589 in U. S. money.
—(V. 43. p. 88, 162, 368. 547, 671, 74B. 766, 774 ; V. 44, p. 22, 149, 211,
216, 275, 308, ?43, 466, 619, 625, 681; V. 45, p. 53, 113, 437, 613.)
Mexican National Railroad (Mex.)—The road was completed
in assented 1st mortg. bonds in treasury of company.
In
casii payments were resumed on the bonds as coupons
From Jan. 1 to Sept. 30, 1887 (9 months), gross earnings were

Marietta Sc North Georgia.—This narrow-gauge road was com¬
pleted in the fall of 1886, from Marietta, Ga., to Murphy, N. C., 112
miles, and is project' d from Atlanta, Ga., to Knoxville, Tenn., 200
miles. Stock is $1,560,000. About $1,500,000 has been subscribed by

Acambaro to San Miguel. 76 miles; El Salto line, 42 miles; Manzanillo
including $275,000 bv the city of Knoxville; and to to Armeria. 29 miles; branches, 34 miles; total Southern Div., 454 miles*,
provide additional means required to finish and equip the road, and to total road finished, 933 miles, leaving a gap of 370 miles to be completed
retire nil the bonds heretofore issued, the company has mortgaged its to connect the Northern and Southern divisions. The Texas-Mexican
entire road, built and to be built, to the Central Trust Company of New belongs to this company and forms pare of its line, the Mexican Nat.
York, to secure first mortgage consolidated bonds for $4,500,000. After owning $1,196,000 of its bi nd°, and nearly its whole stock of $2,500,000;
1897 $15,000 yearly will be paid to a sinking fund for these bonds. The a’so an interest in $248,000 of the Corpus C. b’ds. The company received
whole amount of bonds heretofore issued was $1,166,000, the holders a subsidy* of $11,270 per mile of road, secured by 6 per cent of the
of which have the right to exchange for bonds of the new issue, and Government receipts from customs.
In July*, 1885, sub idy payments
more than"half of the holders have assented to the exchange,
Gross were suspended, but resumed on a graded scale in ’86. See V. 43, p. 103.
In Oct., 1886. a modified plan ot reorganization was made, by which
earnings in 1886-87 were $77,366; net, $40,203. R. M. Pulsifer, Presi¬
foreclosure took place May 23, 1887, and a new mortgage at $9,000 per
dent, Boston. (V. 43, p. £47, 578, 607.)
mile ($12,500,000) was placed on the whole road, most of this to be used
Marquette Hougliton Sc Ontonagon.—(See Jlap Duluth South to complete tlie gap of 370 miles, which is now in process of construc¬
Shore U'r A.)-Owns 4rom Marquette, Mich., to Houghton, 113 miles; tion. Bonds of this issue may be redeemed at par and accrued interest.
branches, 43 miles; total operated, 156 miles. Has a land grant of about The second mortg lire bonds are incomes, series “A” being cumula¬
80.000 acres. Business consists largely of transportation of iron ore.
tive (and the full interest being a char-re ahead of series *‘B” bonds,
In Oct., 1886, a controlling interest was purchased by a syndicate in which are non cumulative). Trustee? of 2d mortgage are J. A. Horsey
the interest of the Duluth South Shore & Atlantic RR., with which and
Lyman K. Bass. The stock is $33,350,000, and is placed in trust,
company a close contract was made under date of April 15, 1887, by leaving road in control of bondholders until interest has been paid for
which the I). S. S. A A. operates this road and agrees to pay the interest two consecutive y’ears on both classes of bonds.
(See V. 43, p. 598, and
on bonds and six per cent yearly on the pref. s ock as It stands above.
V. 44, CHRONICLE of March 19, 1887, p. V. of advts.)
The report for 1886-7 showed the following: Net income , $427,995.
From Jan. 1 to Sept. 30 in 18*37 (9 mos.), gross earnings were $1,283,Disbursements— Interest on debt, $305,552; dividends, $56,167; total 721. against $1,271,204 in 1886; net. $158 829, against $ 33,710.
disbursements. $362,019. Balance, surplus, $65,976. (V. 43, p. 547; -(V. 43, p. 88, 102, 245, 274, 309, 459, 598 ; V. 44, p. 275, 369, 401,
V.

interested parties,

44, p. 681; V. 45, p. 142.)
681; V. 45, p. 232.)
Memphis A: Charleston.—(See Map of East Tennessee Vir¬
MiclLJU^an Central.—Line of Road.—Main line—Kensington to
ginia d- Georaia).—Owns from Memphis to Stevenson, Ala., 272 miles;
□ranches—to'Somerville 14 miles, to Florence 6 miles; leased, Steven¬ Detroit. i;70 miles; and Windsor to Suspension Bridge (Can. So.). 226
son to Chattanooga, 40 miles ; total operated, 330 miles.
This road was miles; total main line, 496 miles. Branches owned and leased—Mich.
leased June 2, 18/7, to the East Tennessee Virginia A Georgia Rail¬ Air Line RR., 115; Jol. & No. Ind., 45; Grand River Valle.v, 84; Jack.
Lan.& Sag., 295; Kal. & So. Hav., 40 ; Dot. A Bay City, 152; Sag. Bay
road for twenty years from July 1, 1877, but this lease was vacated




INVESTORS’

7#
Subscribers will confer

a

DESCRIPTION.
first page

of tables.

Miles
Date Size, or
of
of
Par
Road. Bonds Value.
137

Mine Hill dk Schuylkill Haven—Stock
Mineral JEanpe^-Stock
1st mort., coup
1st mort., gold, on branch and extension.

17*«
12i«
4*2

Houghton extension, gold
Mortgage of October, 1886
Minneapolis dk Pacific—1st mortg., $15,000 p. mile
Minneapolis dk St. Z.—1st M., Min. to Merriam June.
1st mortgage, Merriam Junction to State Line
1st mortg., Minneapolis to White B. Lake, guar.
1st mortgage, gold, coup. (Al. Lea to Fort Do<
lodge)
Improv. and equip, m., 1st series, coup...
Mortgage on Southwestern extension
2d. bos., inc., 5 & lOyrs. (White Bear to Ft. Dodge)
1st mortgage, gold, Pacific Extension
Wis. Minn. A Pacific.—1st mortg
Minneapolis Sault Ste. Marie dk Atlantic—1st M., g
Minnesota dk Northwestern—1st M., g., $16,000 per n
Mississippi dk Tennessee—let mortgage, series “A”.
1st mortgage, series “ B,” (a second lien)
Missouri Kansas dk Texas—Stock

1st mortgage, gold (Tebo. A Neosho)
Consolidated mortgage, gold, on road and land...
2d m., income, exchangeable for genl. m. 5 per ct.'
Booneville Bridge
Ldge bonds,
L
gold, guar
General consol. M.,gold ($9,230,000 are 5s)
East Line A Red River
Hannibal A Central Missouri, 1st and 2d mort
tnternat. A Gt. North’n, 1st mort., gold
do
2d mortgage
do
Colorado Bridge bonds

,

261
27
93
15
102
360
53
172
92
205
250
460
100
100

$50
.

.

•

.

1873
1885
1886
18s6
1886
1877
1877
1877
1879
1882
1880
1880
1881
1884
1886
1884
1877
1877

1,565

1,000
500 Ac.
100 Ac.

1,000
1,000
500 Ac.
1,000
1,000

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

1,00.1
1,000
1,000
1,000
100

1,441
182
100
786
786

100
100 Ac.

1868
1,000
1870
1,000
1871-3
1,000
1876 500 Ac.
1873
1,000
1880-6
1,000
1880
1870
1,000
1879
1,000
1881
500 Ac.
1880
....

..

70
776
776
....

....

ANo.W., 64; Tol. Can. So. <teDet., 56; Can. So. Br. Co., 4; Mich. Mid.
A Can., 15; Canada So. branches, 99 ; Sarnia Chat. A Erie, 7; Erie A
Niagara, 31; total brauohes 1,006 miles; total operated, 1,502 miles
There

are

[Vol. XLV.

great favor by giving immediate notice of any error diicovered in tbese Tables.

For explanation of column headings, Ac., see notes
on

SUPPLEMENT

121 miles of second track and 569 miles of side tracks.

INTEREST OR DIVIDENDS.
.

Amount

Outstanding
$4,081,900
400,000

198,000
100,000
100,000
250,000
3>733,000
455,000
950.000
280,000

Rate per

Cent.

When

Payable

Where

Payable, and by
Whom.

Dividend.

A J. Phila.M.H. A S. H. R.Co.
3*«
Q.-J. N. Y., Winslow, L. A Co.
J. A D.
do
do
8
5
A. A O
Last paid April, 1887.
5
J. A J. N. Y., Winslow, L. A Co.
4
J. A J.
do
do
5
J. A J. N. Y., Am. Ex. Nat. Bk.
7 g. J. A J. N.Y., Bank of No. Am.
do
do
7 g. J. A D.
7 g. M. A N. N. Y., Cent. Nat. Bank.
7 g. J. A D. N. Y., Bank of No. Am.
6
J. A J.
do
do
do
do
7
J A D.
J. A J.
do
do
7
do
do
6 g. A. A 0.
6
A. A O.
do
do
5 g. J. A J. London A New York.
5 g. J. A J. N.Y.. J. G. King’s Sons.
A. A O. N. Y., Harriman A Co.
8
do
do
J. A J.
8
J.

1,015,000
2,000,000
636,000
500,000
1,382,000
3,080,000
4,000,000
9,106,000
977,000
1,003,000
46,405,000
2,067,000
347,000
14,843,000
756,500
844,000
26,510,000
347,000
667,000
7,954,000
7,054.000

6
7
7
6
7
5 A6
6
7
6
6

225,000

7

g.
g.
g.
g.
g.

g.
g.

J. A J. N.Y., Mercantile Tr.
J. A D.
do
do
F. A A.
do
do
A. A O.
do
do
M. A N.
do
do
J. A D.
do
do
J. A D.
do
do
M. A N.
do
do
M. A N.
do
do
M. A 8.
do
do
M. A N;
do
do

Stocks- Last

Co.

July 15, 1887
July 5, 1887
June, 1888
Oct.

1, 1915

Jan. 1, 1916
Oct. 1, 1926
Jan.
Jan.
June
Jan.
June

1,
1,
1,
1,
1,
July 1,
Dec. 1,

1936
1907
1927
1907
1909
1922
1910

1890

April 1,
Oct. 1,
July 1,
July 1,
April 1,
July 1,

Jan.,

1921
1934
1926
1934
1902
1902

i899

June, 1903
1904-1906

April 1, 1911
May 1, 1906
Deo. 1, 1920
1900

May 1, 1890
Nov. 1, 1919
1909

1920

Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles;
Eland June, to Wausau, 23 miles; Antigo to Malcolm, 11 miles; Monico
to Rhinelander, 16 miles: Clintonville to Oconto, 56 miles; branch to
mines, Ac., 36 miles; branches to Michigan mines, 4 miles; Waters-

meet branch, 5 miles; Ontonagon River branch, 6 miles; total, 577
Organization, Leases, &c.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The miles. This company was organized in 1876 as successor to the former
Detroit & Bay City road was foreclosed Feb. 12, 1881, and pur¬ company foreclosed in 1875. Preferred stock has a preference to the
chased for the Michigan Central, which leased it and put a mortg age extent of 7 per cent from net earnings. The debentures are convertible
on the road.
The other lines described above as leased are all held by into stock at par at any time within ten days after the date fixed for
the Michigan Central nominally under leases at fixed rentals, but are •payment of dividends on common stock. The equipment bonds are
practically owned. The land grant came from the Jackson Lansing & redeemable $30,000 per year at par; the funding notes $ LOO,.000 per
year; and the equipments of 1885 at $100,000 per year after 1890 ; the
Saginaw company as stated below.
In Nov., 1882, a close contract was made with Canada Southern for Ontonagon 1st mortgage $25,000 per year at par.
From January 1 to Juno 30 in 1887 (6 months) gross earnings were
working its road by the Michigan Central and for the division oi
net profits over all charges as follows—one-third to Canada South¬ $1,451,711, against $942,768 in 1*86; net, $616,832, against $421,472;
total net receipts, $619,131, against $440,205; balance over fixed
ern and two-thirds to Michigan Central; but the latter company is
entitled to an increase on this proportion as it diminishes its interest charges, $369,879, against $189,769.
The annual report for 1886 was in V. 44, p. 399.
Gross receipts in
charge by payment of bonds or otherwise.
1885, $1,374,807; net, $430,417; interest and rentals. $366,845. In
Stocks and Bonds—The Michigan Central stock has remained at the
1886, gross receipts were $2,353,982; net, $1,031,380; interest and
tame amount since 1873. Prior to 1873 it was
a regular 10 per cent
rentals,
$507,210. (V. 43, p. 162, 274, 334; V. 44, p. 60, 90, 185, 275,
•took. In 1872-73 paid 5 per cent and 4 in scrip, but afterward paid
308, 343, 399, 553 ; V. 45, p. 240.)
no dividend till 1878, and since then irregular amounts. Since 1870
.Milwaukee A Lake Winnebago.-Owns from Neenah to
dividends have been: In 1870-71, 10 per cent; 1871-72, 10; 1872-73,
6 and 4 in scrip; in 1878, 2; in 1879, 31?; in 1880, 8; in 1881, 6^; in Schleisingerville, Wis. Built in 1882 and leased for 99 years to Wiscon¬
sin Central at 37*2 per cent of gross earnings as rental; but after
1882, none paid; in 1883,5 ; in 1884. 3; in 18^5 and 1886, nil.
The range in prices of the stock has been as follows: In 1871,114® $175,000 per year is received the balance of net earnings is to be equally
126; in 1872, 113® 120; in 1873, 65 @111; in 1874, 68^95^; in divided. The $1,000,000 debentures were authorized to be issued as
1875, 53@8214; in 1876, 34«58@65i«; in 1877, 35W74:H, in 1878, required for improvements, and they are convertible on any coupon day
581«@75; in 1879, 73%@98; in 1880, 75® 130*8; in 1881, 84%® 120; into pref. stock; the lessee pays interest on them till 1894. Pref. stock,
in 1882, 77® 105: in 1883. 77®100*e; in 1884, 513t@94*2; in 1885, 6 per ct. cum., $780,000; com. stock, $520,000; par of shares, $100.
461a@79% ; in 1886, 61*fl®983i; in 1887 to Nov. 18, inclusive, 80@95*2Milwaukee A Northern—(See Map.)—Owns from Schwartzburg,
The Jackson Lansing & Saginaw e’ebt is assumed by Michigan Central,
Wis., io Champlain, 257 miles; branches—Menasha and Appleton to
which also pays $70,000 per year on the stock of- $2,000,000; the pro¬
Hillbert.Wis., 21 m.; Ellis June, to Menominee, 22 m ; total operated,
ceeds of J. L. & S. lands go to pay bonds, and in 1886 sales amounted 300 miles.
Uses Chicago M. A 8t. Paul track, 9 miles, into Milwaukee.
to 8,088 acres for $201,479 (including timber), leaving 304,146 acres Other lines in
progress June, 1887. See full statement in V. 44, p. 813.
unsold, and land notes on hand, $324,931.
The stock is $4,131,000. From Jan. 1 to June 30, in 1887 (6 inos.) gross
Operations, Finances, &C.—1The Mich. Central after 1873 becoming earnings were $441,403; net, $168,919; fixed charges, $96,900; surliable for heavy obligations on leased lines, the company suspended i lus, $72,019.
Gross earnings in 1886, $646,226; net, $232,085;
dividends. The road on through business is much affected by the com¬ fixed charges, $200,961; surplus, $31,124
(V.43, p. 368; V. 44, p. 244,
petition between Chicago and points eastward, and by the rates on 276. 781, 80*. 813; V. 45, p. 53. 613, 672.)
Mine Hill A Schuylkill Haven.—Owns from Schuylkill Haven,
through freights. It is operated under a close contract with Canada South¬
ern and the earnings of both loads are included in the statistics below.
Pa., to Locust Gap, Pa., with branches, 137*2 miles. Road was leased
The compaiative statement for six months ending June 30, June May 12,1864, to the Philadelphia a Reading Railroad Co. for 999 years
at a rental of $326,552 per year. There is no debt, and 8 per cent divi¬
being partially estimated in 1887, is as btlow.
1887.
1886.
dends are paid. Operations are Included in lessee’s returhe.
Gross earnings
$6,361,000
$5,436,000
Mineral Range.—Houghton, Mich., to Calumet, Mioh, 151*
Operating expenses and taxes
4,511,000
3,952,000 miles; branch, Franklin Station to Franklin, 2 miles;
total 17*s miles.
Per cent of opor. expenses to earnings
72-7
70 9
Dividends had been paid from the opening of the road, until the fall
of 1887. In 1886gro8s earnings were $81,244; net, $40,522; surplus
Net earnings
$1,850,000
$l,484,0i 0 over interest and dividends, $3,922. In 1885. gross earnings, $81,429;
Interest, rentals, Ac
1,276,000
1,290,000 net, $33,538. This road was uuder the H. S. Ives management, but in
August, 1887, anew board was elected, and the coupon of Oct. 1 on
Surplus
$574,000
$194.00 > the extension bonds was passed until an investigation could be had.
Canada Southern proportion
170,000
47,640 —(V. 43, p. 132; V. 45, p. 272, 538.)
Minneapolis A Pacific.—From Minneapolis northwest to Ran¬
Michigan Central proportion
$404,000
$146,360
som, Dakota, 228 miles.
Completed Dec., 1886; 7 4 miles further west
Dividend
(2^)374,764
in Dakota in progress. Owned in part by capitalists in Minneapolis,
and
mcome
certificates
for
$4,327,000 are held by the projectors and
Balance
Sur. $29,236
Sur $146,360
friends of the company. Bonds sold in New York in 1887 by Jno. H.
The annual report in V. 44, p. 583, gave the following:
Davie A Co,; they are limited to $12,500 per mile for road and $2,500
INCOME ACCOUNT.
per mile for equipment. Hon. W. D. Washburn, President, Minneapolis,
1884.
1883.
1885.
Minn. (V. 44, p. 204, 211, 213.)
1886.
Receipts—
$
$
$
$
Minneapolis A St. Louis.—Owns main line, Minneapolis to
Net earnings
4,268,129
2,699,945
3,891,149
2,692,791
Int. and dividends
67,701
45,190 Angus, Iowa, 259 miles; Pacific Division,Hopkins to Morton, 92 miles;
79,858
'72,216
Kalo Branch, 2 miles; Lake Park Branch, l1^ miles: total operated, 354*•
Total income
4,335,830
2,779,803
2,765,007
3,936,339 miles. Leases trackage from Minneapolis to St. Paul over St. Paul A
No. Pacific RR.; also owns from Minneapolis to White Bear, 12 miles,
Disbursem ents—
$
$
$
$
Rentals paid
184,310
184,310
184,310
184,310 which is leased to the St. Paul A Duluth RR.
The bonds of the $1,100,000 mort. (1877), numbered from 1,101 to
Interest on debt
2,249,106
2,39 2, 674
2,454,292
2,482,443
Can. So (t3 of net)..
611,571
20,448
8,679
407,335 1,400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar
Rap. A No. RR. The bonds on the 15 miles were issued by the Minneapolis
Total
3,044,987
2,659,050
2,675,432
2,984,319 A Duluth Railroad before it was absorbed by this company. Preferred
Surplus for div’ds...
1,290,843
120,753
952,020 stock of $8,000,000 is authorized and $4,000,000 issued; common stook,
89,575
Dividends
1,124,292
374,764 $9,000,000 autboiized and $6,000,000 issued; par of both $100 per
Rate of dividends
(6)
(2)
share. The projected Southwestern extension runs from Fort Dodge.
Balance
sur.166,551 sur.120,753
sur.89,575 sur.577,256 £a., towards Kansas City, Mo., 325 miles, with a branch to Council
Bluffs, 140 miles. R. R. Cable, President, Chicago.
*
The balance to credit of income account Dec 31,1886, was $1,494,124.
The Wis. Minn. A Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
—(V. 43, p. 6,23 ; V. 44, p. 6, 22, 583; V. 45, p. 5, 26.)
and Morton to Watertown June., 121 miles, is leased and operated by this
.

..

,

....

..

Middletown Unionvtlle &

Water

Gap.—Owns from Mid¬

dletown, N. Y., to Unionville, N. J. State Line, 13 miles.
Is controlled
byN. Y. Bus. A West, by ownership of stock. In 1886 extended first
mortgage bonds for 25 years at 5 per cent. Gross earnings in 1885-86.
$39,- 90; net, $16,171; def. under interest. Ac., $8,931. Gross in 1884-5,
$38,489; net, $12,791; deficit under interest, Ac., $14,303. Stock,
$149,850. (V. 43, p 162.)
Milwaukee Lake Shore A Western.—From Milwaukee, Wis.,
4io Ashland, Wis. 391 miles, of which 4 miles are leased; branches—




but theM. ASt. L.hasnoobligation forthebonds. Com. stock,
; pref., $3,080,000.
In 1886 gross earnings of Wise. Minn.
A Pac. were $228,186; net. $44,741; surplus over rental of equipment,
$30,790. Chas. F. Hatch. President, Minneapolis.
From Jan. 1 to Sept. 31 in 1887 (9 months), gross earnings of the M A
St. L. were $1,071,273, against $1,087,670 in 1886; net, $283,992,

company,

$2,055,000

against $318,676.
In 1886. gross earnings, $1,549,620; net, $494,700, rentals, Ac., re¬
ceived, $95,552; net income. $590,252; deduot rentals, $45,606, and
interest,$552,* 10, deficit $8,163. (V. 44, p. 495; V. 45, p. 303.)




Subscribers will confer a

great favor by giving

explanation of column headings, Ac., see notes
on first page of tables.

Date
Miles
of
of
Road. Bonds

1,483
Missouri Pacific—Stock
283
1st mortgage, gold (Pacific RR. of Mo.)
283
2d mortgage (s. f. $50,000 per annum)
Real estate (depot) bonds
299
3d mortgage
990
Consol. M., gold, for $30,000,000 (coup, or reg.)..
Collateral trust bonds, gold, for $15,000,000...c *
15 *3
Carondelet Branch, 1st mortgage
21
Leavenworth Atch. & N. W., 1st mort., guar
St. Louis A Lexington, 1st mort
80
her. ACaney Val.RR. lstM,g,gu.($10,000p.m.)c*
75

Verdigris Vail. Independence & W., 1st M.,g.,guar.
St. L. Iron Mt. A So., 1st mort., coupon
do
2d M.. gold, coup., may be reg
do
Ark. Branch, 1st mort., gold, land gr"
Cairo Ark.& T., 1st, gold, cp.or reg
do
do
Cairo & Fulton. 1st, g., on road & land..

210
310
99
71
304

do
Gen. consol. M. (for $32,036,000)
) llb5
do
do
supplemental, gold 5
Mobile db Birm.—1st, g.,guar. ($20,000 p. m.). ..c&r
36
Mobile db Dauphin Island— 1st mort., gold
85
Mobile db Oirard—2d mort., end. by Cent. Ga. RR..
3d mortg. bonds
iso
Mobile db Montg.—Stock
179
1st mort. bonds by L. & N. RR. Co
179
Bonds
528
Mobile db Ohio—Stock ($10,000,000)
472
1st mortgage, gold
55
1st

.

mortgage, extension, gold
inc. and s. f debentures,

1st pref.
2d
3d
4th

do

do
do

do
do
do

[VOL. XLV.

Immediate notice of any error discovered In tbLese Tables.
•Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

SUPPLEMENT.

INVESTORS’

7*

not cumulative

„

m

m

m

do

do
do

....

Size, or

Amount

Par

Outstanding

Value.

Rate per

When

Cent.

Payable

1%

$100 $45,000,000
1868
1871
1872

7,000,000
2,573,000

1,000
1.000
500 Ac.

800,000
3,828,000
14,714,000
5,000,000
245,000
190,000
650,000
800,000

1,000
1,000

1876

1880
1887
1,000
1873
1,000
1870
1,000
500 Ac
1880
1886
1,000
1886
1,000
1867
1,000
1872
1,000
1870
1,000
1872
1,000
1870
1,000
1881
1,000
1,000
’81 to’7
1887
1,000
1837
1,000
1869
1,000
1877
1,000
100
1881
1,000

1879
1883
1879
1879
1879
1879

750,000
4,000,000

6,000,000
2,500,000
1,450,000

7,428,000
10,353,000

6,243,000
3,000,000
1,500,000
261,000
800,000
2,950,800
2,689,000

1,000

261,000

100

5,320,600
7,000,000
1,000,000

1,000
1,000
....

....

....

Minneapolis Sault Ste. Marie Sc Atlantic.—Road fin-shed from
Minneapolis to Gagcn,Wis., 231 m.,and west from Sault Ste. Marie, 30 m.

Through line Minneapolis to Sault Ste. Marie to be completed by Jan.,
1888. Total length, as projected from Minneapolis to Sault Ste. Marie,
is 465 miles. The lirst mortgage bonds were issued in 1837 at $20,000
per mile, and out of the proceeds a sum was retained to pay coupons
up to July, 1889. (Abstract of mortg. V. 45, p. 243.) Common stock
authorized, $8,000,000; issued $2,426,000; 7 per ct. pref., $4,000,000;
issued $2,4;:6,000.
W. D. Washburn, Pro*., Minneapolis, V. 45, p. 166,
179,211, 243.
Minnesota Sc Northwestern.—Line of road from St. Paul, Minn.,
to Dubuque Iowa, 253 miles; Chicago, Ill., to I. C. June., Ill., 97 in.; Lyle
Branch, Hayfleld to Manley June, 47 m.: Waverly Branch, Sumner, la.,
to Hampton, la.. 63 m ; total 160 miles. The Chicago Div. was opened in
Aug., 1387, the 111. Cent, being used between Freeport and Dubuque.
Under construction, I. C. June, to Portage Curve, Ill., 52 miles. In Jan.,
1887, l ought the Dubuque A Dakota RR., Waverly, la., to Hampton, 41
miles, and Sumner to Waverly, 23 miles. At Oelwein connects with the
Ch. St. Paul A K. City RR.. and on Dec. 5,1887. stockholders vote outlie

of this
to the
St P. Iowa.
Thecom.
iuestion
of a sale
property
C. Cent.
A K. C. The
road stock
from
yle to Manley
June..
20 m.,
is leased
to the

issued is $6,316,700; pref. stock, 7 per cent non-< unmlative, $4,514,200. The first mortgage bonds are authorized at $16,000 per mile for
single track road; $4,000 per m. for terminals in largo cities and for
bridges over Miss and Mo. ri\ ers; ami $8,000 per mile fur double
Gross earnings from July 1 to Sept. 30, in 1887 (3 uios.), Were $458,180,

g.

g.
g.
g.

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

g.
g.
6 g.

8
4
3
6
6 A 8

4,748.000
1,850,000
600,000
900,000

....

-

’

6
7
8
7
6
5
6
7
5
5
5
7
7
7
7
7
5
5
5

Payable , and by

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

Dividend.

N. Y.,Mercantile Tr. Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A.
N. New York or London.
D. N. Y., Mercantile Tr. Co.
do
do
D.
do
do
J.
do
do
O.
do
do.
0.
Now York Agency.
J.

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

„

New York Agency
N.
J. N.Y., H.B. Hollins A Co.
do
do
D.
N. Y., L. A N. Office.
do
do
M. A N.
N. Y. A Louisville.
Various
.

Stocks—Last

Whom.

Q.-J.
F.
J.
M.
M.
M.
M.
A.

.

6 g.
6 g.
7
7
7
7

Where

pal. When due.

Oct. 1,1887
Aug., 1888
July, 1891
May 1, 1892
Nov., 1906
Nov., 1920
Jan. 1, 1917
Oct. 1, 1893

Oct. 1, 1889

Aug., 1920
July 1, ] 926
Feb.

1, 1926

Aug. 1, 1892
May 1, 1897
June 1, 1895
June 1, 1897
Jan. 1, 1891

April 1, 1931
April 1, 1931
Jan.1,1937

May 1, 1927
Jan. 1, 1889
June 1. 1897

May, 1887

May 1, 1931
1890 A 1900

— _

A D. N.Y. Farmers’ L’n A Tr.

Dec. 1, 1927

do
do
Q.—Jan
Yearly. Last pd.Sbjp.c., Aug.,’85
Last pd. 2 p. c. in 1881.

July 1, 1927

J.

....

....

....

{Redeemable

only by
sinking i’nd.

all road built and to be built ; of which a sufficient amount was
reserved to take up first consol, and prior bonds, and for the East Line
A Red River bonds.
In 1887 a compromise was made (V. 44, p. 276) by
which most of the income bond coupon scrip was retired with 5 per cent

on

general mortgage bonds. In S.*pt., 1887, an analysis of the general
mortgage showed: Reserved to retire underlying bonds on old road,
$18,535,000 sixes; issued on account of new road built or acquired,
$17,280,000 sixes; total sixes authorized to date, $35,815,000. Fives
issued for income bonds and scrip, $9,230,000; total genl. consols, out¬
standing* both 5 and 6 percents, $26,510,060. There has been some
confusion in regard to the number of bonds listed at the Stock Exchange
and the amount actually outstanding, since the numbers from 1 to
18,217 orlgina’ly reserved to retire prior liens, have been listed ever
since 1981; also the fives are listed in the same series of numbers with
the sixes, embracing the numbers from 18,218 to 28,217 inclusive.
The I. A G. N. guarantees $2,000,000 of Galveston
derson 1st mortgage 5 per cent bonds.
The M. K. A T. annual report for 1886, in Y. 44, p.

Houston A Hen¬

400, had the fol¬

lowing:
earnings and expenses.

Earnings from—
Mail, express and miscellaneous..

track.

1S84.

1885.

$1,691 596

$1,592,713

5,166,673

4,833,869
427,082

458,931

1836

$1,575,920
5,470,742
404,982

Total earnings
$7,317,250 $6,853,655 $7,451,644
4,228,754
4.347,246
4,055,101
against $149,901 in 1886; net, $150,535, against $63,376. For the Operating expenses
year 1886-87 gross earnings were $852.476; net, $245,679; rentals,
$2,970,004 $2,798,554 $3,222,890
etc.. $21,0-3; net receip.s, $266,703; surplus over accrued interest,
56-74
59-1
59-41
Ratio of expenses to earnings.
See
188
J-7
in
A.
B.
$36,532.
animal report for
V. 45, p. 303.
Stickuey,
ACCOUNT.
Pres., St. Paul, Miun.-(V. 43, p. 72, 162, 480, 516, 607; V. 44, p. 204 ;
V. 45, p. 55, 166, 303, 642.•
1886.
1885.
1884.
Receipts—
$2,970,004 $2,798,554 $3,222,890
Mississippi Sc Tennessee.—Owns from Grenada, Miss., to Mem¬
126,453
457,419
189,799
phis. Tenn., 100 miles. Capital stock, $825,455. Debt was consolidated Dividends, Ac.
as above in 1877.
A majority of ntock was sold in May, 1886, to E. H.
Harriman and others identified with the Ill. Central RIi. There lias been
Total net income
$3,427,423 $2,998,353 $3,349,343
Disbursements
delay at limes in the prompt payment of interest on series “ B ” bonds.
See annual report for l88‘-6 in Chronicle, V. 43, p. 773.
Interest on bonds
$2,439,618 $2,439,427 $2,483,363
Gross earnings in 1894-5, $489,549 ; in 1885-6, $125,718. Operating Taxes, rentals, Ac
479,661
310,646 *1,502,022
expenses in 1884-5, $363,704; in 1885-6, $328,360.
Net earnings in
18«4-5, $125,845 ; in 1^85-6. $97,358. Deficit for year after paying in¬
Total disbursements
$2,919,279 $2,750,073 $3,985,385
terest $32,555 in 1884-5, against $61,042 iu 1885-6.
(V. 43, p. 23, 634. Balance for year.
sur.$508.1448ur.$23S,2S0def.$636,042
773, 775; V. 44, p. 211, 212.)
This include i some adjustment of accounts with the I. A G. N.
Missouri Kansas Sc Texas,—(See Map Mo. Pac.)—Line of Road
-(V. 43, p. 162,431, 516, 619, 746, 766; V. 44, p. 90, 211, 276, 368,
—Hannibal, Mo., to Denison, Tex., 575 miles; branches, Dallas & Green¬
400, 495; V. 45, p. 16 5, 292, 341, 613.
ville ex; elision, 54 miles; Parsons, Kan., to Junction City, Kan., 157
Missouri Pacific.—(Bee Map.).—Line of Road.—Owns main line
miles; Denison, Tex., to Taylor, 258 miles; Whitcsboro to Henrietta,
Tex., 85 miles; Denison to Mineola, Tex., 103 miles; Denton, Tex., to from St. Louis, Mo., to Omaha, Neb., 494 miles; branches in Missouri,
Dallas, Tex., 37 miles; Echo, Tex., to Belton, 7 miles; Trinity to Ogden, 348 miles; other lines as follows: Kansas A Colorado Div., 125 miles;
Tex., 66 miles; coal branches, 8 miles; Jefferson, Tex., to McKinney, Council Grove Osage City A Ottawa Div., 90 m.; Topeka Salina A West,
Tex., 155 miles; Taylor Houston A Bastrop RR., 34 miles.
Total, ti’way, Kan., 70 m.; Salina Sterling A El Paso Div.—Geneseo to Hutch¬
1,539 miles. International A Great Northern, from Longview, Texas, inson, 41 m ; Kan. Neb. A Dak. DrV.—Ft. Scott to Topeka. Kan., 130 m.;
to Galvestou, Texas, 282 miles, of
liicli 50 miles leased from G. H. A Nevada A Mindeu R’way, 74 m.; Denver Mem. A At’. Div., 292 m.; St.
H., and Palestine, Texas, to Laredo, Texas, 415 miles; branches— Joseph Extension—Atchison, Kan., to St Joseph, Mo., 21m.; Lincoln
Extern A Neb. Southern, 79 in.; total operated Nuv., 1887, 1,950 miles.
Houston to Columbia, 50 miles; Phelps to Huntsville, 8 miles; Mineola
to Troupe, 44 miles; leased-Round Rock to Georgetown, 10 miles; The Ft. Scott Wichita A Western—Ft. Scott to Kiowa, Kan., and branch,
Eldorado to McPherson, Kan., is 306 miles. The St. L. Iron Mountain A
Henderson to Overton, 16 miles; total operated 825 miles.
Organization, History, Ac.—The M. K. A T. Company was organized So. mileage in Nov., 1887, was as follows: From St. Louis to Texarkana,
April, 1870, and embraces by consolidation the Union Pacific Southern Texas Line, 490 miles; branch lines, Mineral Point, Mo., to Potosi, Mo.,
Branch, the Tebo A Neosho and other minor companies. In 1874 the Han- 4 miles; Bismarck, Mo., to Belmont, Mo., 121 miles; Poplar Bluff, Mo.,
*lbal A Central Mo. was purchased. The company made default on its to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon. Ark., to Camden, Ark.,
consolidated bonds in Dec., 1873, and was operated by a Receiver from 34 miles; Knobel to Helena, 140 miles ; Newport to Cushman, 39
miles ; Neelyville to Doniphan, 20 miles; Adenville to Jackson, 16 miles;
Deo. 30,1874, to July 1,1876. when the Union Trust Company of New
York took possession. On Dec. 1, 1880, the company took possession Arkansas Valley Div., 113 miles; Warren Branch, 49 miles; total, 1,100
•f its property, paying the overdue coupons. The company had a laud miles.
By Dec., 1887, the mileage of Iron Mouutain and Mo. Pac. combined
erritory of 3,622,400 acres subject to the extinguishment of the will be as per circular in V. 45, p. 369.
Organization, Leases, Ac.—The Pacific RR. Co. (of Missouri) was
Indian title. The Booneville Bridge Company is a separate organiza¬
incorporated under charter dated March 12, 1849, and road opened to
tion, and earns interest and proportion for sinking fund.
Kansas
At a meeting of stockholders May 18,1881, a lease to the Mo. Pac. for
City in October, 1865. The company received a loan from the
•9 years was ratified on terms following: That the lessee operate the State of Missouri. The Pacific Railroad of Mo. was sold in foreclosure
road and pay the obligatory mortgage interest, paying over the balance Sept. 6, 1876. The present company was a consolidation in Aug., 1880,
to the Mo Kan. A Texas Co.
If there is a deficit in income the lessee embracing the Missouri Pacific and a number of minor roads.
The St. Louis Iron Mountain A Southern stock was taken up with
m%y advance money to pay interest, or else the Mo. Kan. A Texas can
Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
resume possession of its road.
The International A Great Northern Railroad was acquired by Mo. four shares of Iron Mountain, and the St. Louis A Iron M. stock i»
Kan. A Tex. in May, 1881, oy an exchange of two shares of Missouri held by Missouri Pacific.
Kansas A Texas stock for one of International A Great Northern,
Stock and Bonds.—Under the new regime the payment of dividends
and the Int. A Gt. N. stock is held in the treasury of the M. K. A T. The was begun on the present stock in 1880, in which year l1^ per cent was
Int A G. N. roads were sold in foreclosure. July 31 and Oct. 14,1879.
paid. Dividends since were as follows: in 1881, 6; in 1882, 6^; in
Stock and Bonds.—The stock has ranged as follows since 1877> 1883, 7; in 1884, 7; in 1885, 7; in 1886, 7.
The lstino.t. (Pac. of Mo.) bonds are to be extended for 50 years at 4
viz.: In 1878, 2-®71e; in 1879, 53s®35% ; in 1880, 28ie@49i4; in 1881.
847e®54 ; in 1882, 263s®42ig ; in 1883, 19^@3476; in 1884, 9V3>23i4; per cent.
The consolidated mortgage above is for $30,000,000—trustees John F.
in 1885, 1492®37%; in 1886,21a
in 1897, to Nov. 18, inch, 1733444.
The consol, mort. 7s, due 1904-6, had a sinking fund of 1 per cent a Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
year, beginning in 1874, but the sinking fund not having been earned ($15,290,000) is in the hands of trustees to redeem prior bonds as they
ont, it was reported in 1887 that bonds for all back years, including fall due.
For the payment for new lines acquired and to be acquired there was
interest might be called in for redemption.
The general consolidated mortgage of 1880, with supplemental mort¬ issued in 1886 $10,000,000 of new stock at par to old stockholders, and
gage in 1886 enlarging tbe amount to be issued, is at $20,000 per mile another $5,000,000 in 1887. Also tbe collateral trust bonde (Union
*

Srant which has been practically closed out; also a grant In the Indian







INVESTORS’

71
Subscribers will confer a great

on

of tables.

Miles Date Size, or
of
of
Par
Road. Bonds. Value.
81
45
38

Montgomery dt Eufaula—1st mortgage
Montgomery dt Florida—1st mortgage, gold

Montpelier dt Wells River—Stock
Morgan's La.dk Texas—Stock
1st mort., gold (N. O. to Morgan City)
1st mortgage, Alex. Extension, gold
2d mortgage

102
157
132
84
84

Convertible bonds
Gen. m. A 1st on Boonton Br. Ac. (guar. D.L. AW.)
Consol, mort. (for $25,000,000) guar. D. L. A W..

34
137

Moms dt Essex—Stock
1st mortgage, sinking fund

Special real estate mortgage

1879

$....
1,000

1886

1878
1880

1,000
1,000

....

1864
1866
Var’us
1871
1875
1882

15

50
500 Ac.
500 Ac.

1,000

1,000
1,000

•

•

•

1,000
100

•

’73-’80

Nashville Chattanooga dt 81. Louis—Stock
1st mort. (for $6,800,000), coup
2d mort
Bonds held by U. 8. Government
.11. C.A St. L., 1st M. on Fayette. & McM. bran<
1st mort. on Lebanon Branch...
do
do
for Jasper Branch
do
for Centreville Branch
do
for Tenn. Coal & Iron RR
Duck River RR., 2d mort., endorsed
Nashville dt Decatur—Stock, guar’d 6 p. c. by L. A N.
1st mort. guar. s. f
Matches Jackson dt Columbus.—1st mortgage—
—

Naugatuck—Stock
Bonds

r

Nesquchoning Valley—Stock

Nevada Central— 1st mort., gold (sink, f., $20,000)

600
340
321

m

25

1,000
1,000
1,000

....

....

m

1,000

1,000
1,000
1,000

Total

and miscellaneous...

earnings

■Operating expenses
Net

earnings

1833

.

.

l,000Ac
50

....

1879

1,000

}

1885.

1886.

$2,<'43,457 $2,004,578

$2,020,597

6,047,339
680,832

5,153,025
785,959

5,518,2L6
1,100,127

$8,777,028

$7,943,562

4,492,877

4.338,319

$8,645,020
5,238,723

$4,284,751

$3,605,243

$3,406,297

206,822

Dividends, Ac
Total net income
Disbursements.
Interest on bonds
Dividends paid
Date of dividend

792,835

1886

$4,398,078

$1,798,200
2,098,105

$1,822,727 $1,875,470
2,098,000 >
n
l
3,185,762
568,848 )

$4,767,129

775,030

Total disbursements
$4,*71,341 $4,489,575 $5,061,232
^Balance ft r year
def.$179,769 def.$91,497 def.*294,103
St. Louis Iron Mountain & Southern.—This company defaulted on
■Its interest in 1875 and finallv made a compromise with its bondholders.
There are yet outstanding $346,384 of old income bonds of the several
'issues, ana $73,000 of the Cairo A Fulton second mortgage bonds.
The Mercantile Trust Co., of New York, is trustee of the general
■consol, mortgage. The stock is nearly all held in the treasury of the
Missouri Pacific Railway Co., having been retired in May, 1881, by the
issue of three shares of Mo. Pac. stock for four of St. Louis A Iron
Mountain. The sales of land in Arkansas on which the Cairo & Fulton
bonds have a lien are given in the report for 1886 as 44,184 acres
at $2-88 per acre. Lands yet unsold, 886,157 acres.
The report for 1886 was published in the Chronicle, V. 44, p.368,
-400, and the income account was as follows:
INCOME ACCOUNT.

Receipts—
Net earnings
Other receipts
Total net income
Disbursemen (s—

interest

1884.
1885.
$3,464,599 $3,619,416
44,727
44,741
$3,509,326

1886.

$3,443,281
159,800

$3,664,157 $3,603,081

bonds

$2,206,854 $2,215,304 $2,214,131
397,522
350,144
554,093
Total disbursements
$2,760,947 $2,612,826 $2,564,275
Inrplus for year
$748,379 $1,051,331 $1,038,806
—(V 4 4. p.212, 244, 343,308,370, 399, 621,681, 808 ; V. 45, p. 240,
243, 369, 373, 538, 613, 642, 672.)
Mobile Ac Birmingham. -(Ste Map East Tenn. Ya. dt Ga.)—
on

6 g.
7
7
7
7
7

Taxes, br’ge, and car exp.,&o

Mobile to Marion June., Ala., on the East Tenn Va. A Ga. road, about
155 miles, in course of construction and about completed. Abstract
of mortgage V. 45, p. 274. (V. 44, p. 681,701; V. 45, p. 274.)
Mobile Ac Dauphin Island It It. Ac Harbor Co.—From Mobile
to Dauphin Island, Ala., 36 miles. This road is intended to form an out¬
let at deep water on tlie Gulf of Mexico for the railroads centering at

Mobile. Stock is $1,500,000. Robert Sewell, N. Y., President.
Mobile Ac Girard.—Owns from Columbus, Ga., to Troy, Ala,, 84
floiles. Common stock, $985,415; preferred stock, $278,967, and $3,980
Pike County stock. From Juno 1, 1886, this road was leased to the
Central of Georgia for 99 years at a guaranteed di\idend of l4per
cent per anuum. The 8 per cents may be exchanged tor 6s or will be
paid off. There are $19,000 3d mort. 6 per cents due 1897. In ’85-86

New York.
Boston.

....

*7*
3%

N.Y., Nat. City Bank.

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

A
A
A
A
A
A
A
A

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

1926

(?)

N.Y., So. Pac. Co.
do
N.

do

Y., Del., Lack Ac W.
do
do
do
do
do
do

July 1. 1909

do

Deo., 1884
April 1, 1918
July 1, 1920
July 1, 1887
Mayl, 1914
Aug. 1, 1891
Jan. 1,

ao

1900
Oct., 1901

do
do

June 1,1915

7
41a&5 j. a"j.
M. A N.
4^

N. Y.. Del. Lack. A W.
July 1, 1912
2d Nat. Bk., Nasbua.
Nov. 1, 1887
do
do
6 A 5 g. F. A A.
1893 A 1900
1
Q.-J. New York A Nashville. Oct. 10, 1887
J. A J. N.Y., Continental N.Bk. July 1, 1913
7
J. A J.
do
6
do
July 1, 1901
do
4
J. A D.
do
June 1, 1891
do
6
J. A J.
do
Jan. 1, 1917
do
do
J. A J.
6
Jan. 1, 1)17
do
1907 A 1923
J. A J.
do
6 A 8
do
J. A J.
6
do
Jan. 1, 1923
do
do
6
1909
J, A J.
M. A N.
do
Nov. 1, 1909
6
do
3
Nashville.
June 6, 1887
J. A D.
7
J. A J. N. Y., 50 Exoh. Place
July 1, 1900
N. Y. Bank of America.
10
1885
5
J. A J. New Haven, Ct., Treas. July 3, 1887
do
do
4
J. AD
June 1. 1913
M. A S. Philadelphia, Co.’s office Sept. 1, 1887
2i«
6 g. A. A O. Last paid April, 1884
Oct. 1, 1904

Ar^esia, Miss., to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen
Miss., 9 miles; total owned, 527 miles; total operated, 688 miles. In
July, 1885, the gauge was changed to standard, 4 feet 8 *2 inches, in
Dec., 1885, the lease of the St. Louis A Cairo RR. (161 miles) was taken
for 45 years at a rental, guaranteed to amount to $165,000 per year.
A default was made May 1, 1874, and two trustees and receivers took
possession May 8,1875, and the company was reorganized without fore¬
closure. The holders of debentures have one vote for each $100, and each
year they instruct the Farmers’ L. & T. Co., trustees, how to vote at
the stockholders’ meetings upon the majority of the stock of the Mobile A
Ohio Railroad Company, the power to vote uj an which is irrevocably
with the Farmers’ Loan &

Trust

Company, until the extinguishment

capital stock authorized by the charter is
$10,000,000, or 100,000 shares of $100 each, of which there have been
issued 53.206 shares. The debentures are secured by a deed of trust of the
land.about 1.143222 acres, and receive 7percent, if earned.
June 30,
1887, there were in the sinking fand $552,000 of the first debentures
The Car Trust debt is $532,000.
In August, 1881, 7 per cent was declared on 1st preferred incomes
and 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
first preferred incomes; in 1883, 3 per cent; in 1884,5 percent in
The

1885, 3*3 per cent.
Fiscal year ends June 30; the report
cle, V. 45. d. 640.

for 1886-87

was

in the Chroni¬

INCOME ACCOUNT.

1883-84.
Total miles
Gross

Taxes, rentals, Ac

J. A J.
M. A N.

2

$3,400,297
1,360,832

$4,.91,572

7

6

6 g-

of said debentures.

1884.
1885.
$4,284,750 $3,605,243

Receipts—

71,000

1,642.557
1,900,000
174,400
2,000,000
150,000
1,400,000
750,000

100

INCOME account.

'Net earnings

500,000

1,000

m

....

EARNINGS AND EXPENSES.

18*<4.

300,000
173,000
376,000

1,000

1870
m

6,300,000
1,000,000
500,000
480,000

....

....

1877
1877
1877
1882
1887
1881

m

300,000
6,668,531

....

mm

1873
1881

....

101
30
13
47
20
48
122
119
99
66
61
18
94

m

Trust Co. of N. Y.,Trustee) s(cured by mortgage bonds of new railroads
*t $12,000 or $15,000 per mile. The Leroy A Caney Valley Railroad, in
Kansas, 80 miles, is leased and bonds guaranteed by Missouri Pacific
as also the Verdigris Valley Independence A Western.
Operations, Finances, Ac.—The earnings and income account belov
are for the Missouri Pacific and its branches only (1,103 miles); for, not¬
withstanding the merger of St. Louis & Iron Mountain stock and lease oi
Missouri Kansas A Texas, the operations of all the roads have been
kept separate and are so reported.
The annual report of Mo. Pacific for 1886 was published in the Chron¬
icle, V. 44, p. 368.
The earnings, income account and balance sheet,
have been as follows:

Mail express

$1,560,000
675,000
800,000
5,000,000
5,000,000
1,477,000
15,000,000
5,000,000
2,999,000
284,000
4,991,000
6,557,000
1,025,000
2,220,000
800,000

50

+ m m

INTEREST OR DIVIDENDS.

Amount

....

Real estate terminal mort. (guar. D. L. A W)
Mashua dt Lowell—Stock

Earnings—
Passengers
Freight

Bonds—Princi¬
pal, When Due.
Rate per Whfn Where Payable, and by Slocks—Last
Outstanding
Cent.
Whom.
Dividend.
Payable
.

of column headings, Ac., see notes
first page

[VOL. ZLV.

favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.

For explanation

SUPPLEMENT.

operated.

earnings...

1884-85.

1835-86

1886-87.

527
527
$2,278,917 $2,101,025

$1,962,323

$2,431,381

$524,839

$547,726

$637,713

$482,400

$431,600

$180,800

38,636

128,863
26,730

Net income
$731,450
Disbursemen ts—
Tnt. on mort. bonds—$ 71,200
Interest, on incomes..
265,000
Rent to C. & St. L
Miscellaneous

Total disbursem’ts
$736,200
Balance
Def. $4,750

527

663

$482,400
$520,236
$636,393
Sur. $ 12,4c 9 Sur. $27,490 Sur. $1,320

-(V 45. p. 614, 640 )
Montgomery Ac Eufaula.—Montgomery to Eufaula, Ala., 80
miles. The road was foreclosed May l, 1879, bought by W. M. Wadley,
and the present company organized.
Operated under contract by

Georgia. Stock is $620,000. Dividend of 10 per cent paid
April. 1883.
Montgomery Ac Florida.—Owns from Montgomery, Ala., to
Live O tk, 45 miles, and in progress towards Chattahoncliie, Fla. This
was formerly the Montgomery Southern road, and was foreclosed in
May, 1886, and reorganized. C. W. Scofield, President, 44 Broadway.
Montpelier Ac Wells River.—Owns from Montpelier to Wells
River, Vt., 38 miles. Reorganized January, 1877.
D. R. Sortwell,
President, East Cambridge, Mass. Gross earnings in 1884-5, $92,814;
net, $17,774. Gross in 1885-6, $94,747; net, $8,262. Gro38 in 1886-7,
$95,112; deficit under expenses, $469. (V. 44, p. 717.)
Morgan’s Louisiana Ac Texas Railroad Ac Steamship Co.—
(See Map of So. Pac. Co.—The road owned is from New Orleans to CheCent. RR. of
in

neyville, 204 miles: branches, 55 in.; Cheneyville to Alexandra (under
track agreements, 24 m.; total, 283 miles. In Feb., 1883, the stock was
sold to the South. Pac. parties, and the South. Pac. Company held (Deo. 31,
1885) $4,062,700 out of the whole stock of $5,000,000. This company’s
property consisted of seventeen iron steamships plying between New

York and New Orleans and between Gulf ports, also wharves, ware¬
houses, and terminal facilities, besides the capital stock of rai.road and
other companies, including a majority interest in the capital stock of the
Houston & Texas Central Railway Co.. Ac.
There are also $251,716 of old New Orleaus Opelousas & G. W. bonds due 1889, assumed
by this company. In lb86 gross earnings were $4,138,525; net. $1,059,518. In 1885 gross earnings-were $4,232,018; net, $1,602,476. From
Jan. 1 to Sept. 30, 1837 (9 months), gross earnings were $2,954,828,

against $2,899,017 in 1886; net, $568,701, against $620,108.

p.

(V. 44,

341,434.)

M p of Del. L. dt W.—Owns from Hoboken, N.
J.,to Pnillipsbuig, N. J., 84 miles; branch, Denville, N. J., via Morris &
Morris Ac Essex.—(See

to Chester, 10 m.;
In 1868 this road
was leased in perpetuity to the Del. Lack. A W. RR.
The lessees assume
all liabilities of the Mor. A Essex RR. and pay 7 per cent per annum on
across earnings,$217,757; net, $59,185.
the capital stock, and they also agreed to pay 8 per cent in case the
(V. 43, p. 103, 398.)
Mobile Ac Montgomery—(See map Louisville dt Nashville) — Morris A Essex earns 10 per cent on its stock m any one year after the
Owns from Montgomery, Ala., to Mobile, Ala., 180 miles.
The year 1874. The Morns A Essex is important to the Delaware Lacka¬
old road wat. sold in foreclosure Nov. 16,1874, and purchased by bond¬ wanna & Western as a route with terminal facilities on New York Har¬
holders, who organized this company on a stock basis. The stock is owned bor, but the actual earnings on the road show a large annual deficit for
by the Louisv. & Nashv. RR. Co., which now operates it. The old mort the lesse e company after the payment of rental. The loss to lessee was
debt outstanding is about $230,000.
The Louisville & Nashville Co in’80. $1,012,416; in’81, $985,890; in’32. $941,550; in’8?, $1,104,218;
has issued $2,689,000 bonds secured on this road, $2,677,000 of which in ’84 about $1,100,000; in ’85 and ’86 about $900,000. (V. 45, p. 13.)
are pledged for the collateral trust bonds of that enmnanv.
Gross earn¬
Nashua Ac Lowell.—Owns from Lowell, Mass., to Nashua, N. B.
ings in 1885-6, $1,032,936; net, $246,011; mt. and taxes, $212 643- 15 miles. On Oct. 1, 1880, a lease for 99 years to the Boston & Lowell
'
’ was made. In 1887 lease was transferred to Boston A Maine RR. Co.,
inrplus, $33,367.
Mobile de Ohio.—(See Map.)—Owns from Mobile, Ala-., to Columbus which pays a rental of $73,000 (9 per cent on stock). The funded debt of
Ky., 472 miles, and extension (by Ken. & Tenn. l;R.) to Cairo 21 m- $300,000, principal and interest, is assumed by the lessee, and the lessor
leases St. L. & C. RR., Cairo to St. Louis, 152 miles, and track to Mil 1- holds the lessee’s notes for the same amount— $300,000. (V. 45, p. 143.)
etadt. 9 miles; branches—Arteeia, Miss, to Columbus Miss., 14 milesNashville Chattanooga Ac St. Louis.—(See Map of Louisville d




Essex Tunnel, to Hoboken, N. J., 34 m.; leased Dover
Newark A Bloom. RR., 4 m.; total operated, 132 miles.

November,




1887.]

RAILROAD STOCKS

AND BONDS

75

INVESTORS’

76

SUPPLEMENT.

[You XLV

.

groat favor by giving

Subscribers will confer a

explanation of column headings,
on first page of tables.

Newark Somerset dk

Ac., see notes

m

m

12
15
13
170
92
17

($300,000 are 4s)

36
78
_

^

c*

c*

:

Newport News dk Mississippi Valley—Stock
New’Orleans dk Out/— 1st consol, mort, gold
c*
New Orleans dk Northeastern— Prior lien mort., gold.
New York Brooklyn dk Man. Beach— Stock, common.

m

m

121
100
121

500 Ac.
100

1,000

700,000

1,000

3,000,000

m

mm

20
20
14
All.
150
m

1877
1885
1874

mm

1853
1873
1873
1884

1884 85.
1385-86.'
$
$
$
649,737
601,820
663,618
1,559,765 1,435,878 1,429,468
148,703
155,101
153,821
1883-84.

A

„

^

^

4-:

..

Net

earnings....

earnings

1,112,000
11,660,000
900,000
1,372,000

7
4 A 5

Total income

Disbursements—
Interest on debt A taxes.

Dividends

Improvements
Total

disbursements.

Balance, surplus

1883-84.

1884-85.

$
1,068,640
29,072

$
936,717
11,947

1,097,7: 2
$

948,664
$
682,273

106,077

58,401

662,320
266,802

1,035,799

62,513

GENERAL BALANCE AT END

1833-84.

..

1,000
1,000

l,0C0Ac

1886-87.

740,674

207,990

1886-87.

$
$
865,251 1,195,637
13,445
865,251 1,209,082
$
$
709,834
675,096
266,741

45,221

119,430

720,317 1,096,055

144,934

OF EACH FISCAL YEAR.
1885-86.
1831-85:

113,027

1886-87.

$
$
16,316,655 16,950,242 17,094,876 17,512,645
562,727
69,421
81,322
75,758
462,940
481,314
478,714
479,663
37,647
8,722
18,132
lb,067
80,364
62,461
67,961
54,129
188,919
250,436
277,372
294,8 4
Cash
311,088
300,217
264,408
375,211
Total
17,920,544 13,108,314 18,321,836 13.823,520
Liabilities
$
$
$
$
Capital stock
6,670,331 6,668,303 6,668,362 C.6 8,531
Bonded debt
8,903,000 8,998,000 9,200,000 9,207,000
Bills payable
591,499
467,268
288,047
604,4o2
Bal’cedue individ’ls, Ac.
97,348
42,947
31,092
61,299
Int’st coupons due July 1
287,970
290,905
296,905
247,630
Dividends
21,942
18,323
17,048
83,483
Pay-rolls, Ac
75,490
72,721
85,152
97,124
Int’st on b’de held by U. 8.
153,600
153,600
153,600
Miscellaneous
3,686
15,119
13,016
834
1,115,678 1,381,068 1,571,014 1,80*4,147
Protit and loss

Assets—
Road and equipment
Assets not available
Inv’tm’ts in st’ks A bonds
Bills receivable
Real estate.
Due from agents, Ac

$

650,000
500,000
798,000
4,000,000
89,428,300
6,450,000
30,000,000
9,733,333
7,850,000

£100Ac
100
500 Ac.

865,251 1,195,637
1885-86.

350,000

1,000.

INCOME ACCOUNT.

Net Receipts—
Net earnings
Miscellaneous receipts...

•

500 Ac.

1

936,717

4
6
6
7

1,000

$
725,961
1,894.715
153,572
2,240,719
2,188,109
2,774,243
2,372,086
A OAI DAO
1 OOO QKO
Oi.o A A it
1
ill 1
1,063,640

6 A 7
6
5
5

1*2

....

....

7
6
7
3
7

387,500

1,000
1,000

$

When

Where

Payable, and by

Payable

Whom.

M. A S.
M. A N.

N. Y. L. E. A W. RR.
N. Y., Union Trust Co.

....

1,500,000

EARNINGS AND EXPENSES.

-

200.000

7
7 g.

100
500 Ae.

Centreville
(leased), 48
m.; total, 600 miles.
A majority of the stock ($3,385,000) is owned by the Louisville A
Nashville RR. Company and pledged among the collaterals for the
trust loan of that eomnanv.
The company in Oct., 1886, resumed dividends at the rate of 1 per
cent quarterly.
From July 1 to Oet. 31 in 1887 (4 mos.), gross earnings were $1,066530, against $876,255 in 1886; net, $490,050, against $365,009; sur¬
plus over interest, taxes and improvements, $191,664, against $108,422.
Fiscal year ends June 30. The report for 1886-87 was in V. 45, p. 436.

Ac..

1,449,600

1,000

McMinnville Branch, 61 m.; Decherdto Fayetteville, 40 m.;
Branch, 47 m.: Tracy City Branch, 20 m.; Duck River RR.

Total gross

400,000

500AC.
600

Nashv.)— Owns from Chattanooga Tenn., to Hickman, Ky., 321 miles;
branches—Wartrace, Tenn., to Shelby ville, Tenn., 8 m.; Bridgeport, Ala.,
to Inman, Tenn., 25 m.; proprietary lines—Nashv. to Lebanon, 30 m.;

Mail, express, rents.

1,200,000
700,000

1,000

1886
1885

....

Freight

260,000

1,000
1,000

1872
1880

^oooiooo l coupon or reg'i

Passenger

2,460,000
1,300,000

1,000

'

e,

m

Earnings—

250,000
700,000
525,000

100

68

nrp.fftrrpd
...
N. Y. & Man. Beach RR.. 1st mortgage
c*
N.Y. B.AM.B., 1st consol, mort., gold
c*
N. Y. dk Canada—1st M., ster.,guar. D.A H. Can..C
1,443
New York Central dk Hudson River—Stock
Premium bonds (N. Y. Central) ext. 10 y’rs, ’83..
840
N. Y. C. A H., J $30,000,000 \
_A£J. (
n_
840
mortgage ... j
Debenture bonds (for $10,000,000),coup, or reg..
fttnp.lr

1,164,500

50

....

•

800,000

1,000

1869
1870
1879
1881
1886
1886
1880
1879
1869

Rate per
Cent.

$250,000

....

68A70

27

Outstanding

500 Ac.

....

sxmmm

Northern Extension
Bonds convertible into stock
New Jersey Junction— lstmortg., guar
c<fcr
New Jersey dk New York— 1st mort. (reorganization)
N. J. Southern—lei mort. (Int. guar, by N.Y.A L.B.)

mort., guar

m

m

Amount

$1,000

1871
1869
1877
1868

5
44

Newburg Dutchess dk Connecticut—Income bonds...
Newburg dk New York—1st mortgage
New Castle dk Beaver Valley—Stock
New Haven dk Derby—1st A 2d mortgages
New Haven dk Northampton—Stock
Mortgage bonds, coupon
Holyoke A W.,leased, 1st M.<$200,000 guar.)
Consol, sink, fund $15,000 per yr. A mort. bonds.

Consol, mortgage

discovered In tliese Tables.
ttonas—PrinoJ-

Immediate notice of any error

Date
Miles
Size, or
Par
of
of
Road. Bonds Value.

Straitsv., 0.—1st mortgage

Long Branch A Sea Shore. 1st
hew London Northern—Stock
2d mortgage

-=

.....

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

■

■

-

6 g.
0 g«

A J. N. Y.,Office N.Y.L.E. AW

J.

Newcastle, Penn.

Q.-J.

Various N. Haven, Mech. Bank.
New Haven.
do
do

....

J.

A
A
A
A
A
A

J.

pal, When due.
Stocks-Last
Dividend.
Nov. 1, 1889
Jane 1,1977
Jan. 1, 1889
Oct. 2, 1887
1888 & 1900

Oct., 1878
Jan., 1899

O. N.Hav.,N.Tradesm’s Bk Apr.1’91 A’98
do
do
O.
April, 1, 1909
do
do
O.
April, 1911
do
do
July 1, 1896
J.
Feb.
New York Agency.
1, 1986
F.
A.
M. A N. N.Y., Mercantile Tr. Co. May 1, 1910
July 15, 1899
J. A J. N. Y., 119 Liberty St.
Dec. 1, 1899
New York.
J. A D.
New London, Office.
Oct., 1887
Q.-J.
July, 1892
J. A D. N. Y., B’k of N. America
do
do
July, 1910
J. A J.

A.
A.
A.
J.

New York, Agency.
M. A N.
A. A O. N.Y.,Farm. L. A Tr. Co.

Nov. 1, 1926
Nov. 1, 1915

....

*2^3
7
5 g.
6 g.
1
5
7
6 g.
5

1885-86
J.

Jan.
Oct.

N.Y., Gr. Central Depot.
do
do
do
do
J. A J
J. A J. New York and London.
M. A S. N.Y., Gr. Centr’l Depot.

Jan. 1, 1903
Jan. 1, 1903

A J. N. Y., Corbin Bank’g Co
do
do
A. A O.
London, Baring Bros.
M. A N.

Q.-J.

M. A N.

1, 1897
1, 1935
May 1,1904
Oct. 15,1887
May 1,1893

Sept. 1, 1904

Nesquehoning Valley.—Owns from Nesquehoning Junction, Pa. ,
Tameuend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Langford,
Pa., 1 mile; total operated, 18 miles. Opened in 1870, and was leased
for 999 years to the Lehigh Coal A Navigation Co. at a leas© rental of
$130,000 per annum. In Se pt., 1884, the lease was modified so as to
pajr 5 per cent a year only, and the stock has been extended for 20
years, with a guarantee of 5 per cent per annum.
to

Central.—(Nee Map Union Pacific.)— Battle Mountain to
93 miles. Stock. $1,000,000. There arc $250,000 8 per cent
income bonds due 1905, which are held by the Union Pacific, as also
Nevada

Austin,

$.‘59,500 of the stock. Default was made Oet. 1, 1884, on the bonded
interest, receiver appointed Feb., 1885, and road sold June 21,1887. Re¬
organization pending. N. Y. Committee. Messrs. D. B. Hatch, ct at.
From Jan. 1 to Aug.
31 in 1887 (8 mos ), gross earnings were
$52,689, against $38,584; net, $19,348, against $5,576. Gross earnings
in 1885, $68,062; net, $$2,879; deficit under interest, Ac., $42,120.
Gross in 1886, $57,759; deficit. $2,924; deficit under interest, $47,624.
-(V. 44, p. 781; V. 45, p. 672.)
Newark Ac

Hudson.—Owns from Bergen

Junction to Newark,

J., 6 miles. Leased to New York Lake Erie A Western at a rental
of $33,000 per annum, which pays interest on bonds and 7 per cent
on the stock of $250,000.
Earnings in 1836, $65,518 gross and $17,818
net.' Cortlandt Parker, President, Newark, N. J.
N.

Newark Somerset Ac Straitsville.—Owns from Newark, O., to
Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky
Mausf. A Newark for 14 years from Jan. 1, 1872. Operated by the Balt.
A Ohio, which pays 30 per cent of gross earnings, and advances any

meet the interest on the debt. Capital
preferred, $218,200. Gross earnings in
1882-83, $164,781 ; net, $19,511; loss to lessee, $29,922. In 1833-84,
gross $168,532; net, $757; loss to lessee, $49,802.
In 1884-85, gross,
$113,430; deficit. $29,102; loss to lessee, $64,631. Tn 1885-86, gross,

additional amount necessary to
stock, common, $795,400, and

$214,291; net. $35,208.
Ncwburg Dutchess «fc Connecticut.—Owns from Dutchess JuneN. Y., to Millerton, N. Y., 59 miles.
The Dutchess A Col. RR. was sold
Aug. 5. 1876, and this company was organized Jan. 8, 1877, by the purcha8ing bondholders. In addition to above incomes, there are $150,000
1st mort. 7s, due in 1907.
In 1884-85, gross earnings $131,923;
net, $13,864; deficit under interest, Ac., $2,511.
In 1835-86, gross.
$143,418; not, $23,276. The common stock is $172,000 and preferred
stock $715,350. John S. Schultze, President, Matteawan, N. Y.
Newbur" Ac New York.-Owns from Vail’s Gate Junction to
Greenwood Junction, N* Y., 13 miles. Leased October 5, 1866, to Erie
RR.. at $17,500 per annum (being interest on the bonds),and operated
now by New York Lake Erie A Western.
Has no stock.
New Castle & Beaver Valley.—Owns from Homewood, Pa., to
New Castle, Pa., 15 miles. Road in operation since 1860.
Leased to
Pittsb. Ft. W. A Chic. RR. for 99 years at a rental of 40 per cent on gross
earnings. Lease transferred to Pennsylvania Company. There is no debt.
In 1879, 13 per cent dividends were paid; in 1880, 13 p. c.; in 1881, 24
p. c.; in 1882,14 p. c.; in 1883, 29 p. c; in 1384, 19 p. c.; in 1885,10 p. c.;
1886, 6 p. e. Gross earnings
672 ; gross in 1886, $207,214;

in

in 1885, $171,682; rental

received, $63,-

rental received, $32,855.
New Haveu Ac Derby.—Owns from New Haven, Conn., to Ansonla,
Conn., 13 miles. Capital stock is $446,600, cf which New Haven city
owns $200,000.
New Haven City guarantees the $225,000 second
mortgage bonds, and has a claim of about $300,000 for money ad¬
vanced. Negotiations have been pending between the company and the
city for an adjustment.
Gross earnings in 1834-5, $150,737; net,
$63,792. In 1885-86, gross, $162,678 ; net, $63,903. (V. 45, p. 84.)
New Haven Ac Northampton.—Operated from New Haven,
Conn., to North Adams, Mass.. 123 miles; branches—Northampton to
Williamsburg, 8 miles; j-annmuton Conn., to New Hart ford,Conn., 14
17,920,544 18,108,314 18,324,836
Total
miles; South Deerfield to Turner’s Falls, 10 miles; to Taiiffville, Conn.,
1 mile; leased—Holyoke A Westfield RR.. 14 miles; total, 170 miles.
-(V. 44, p. 118, 244, 370, 527, 653, 781: V. 45, p. 113, 239, 240, 369,
In April, 1881, a controlling interest in the stock was sold to New York
401, 136, 539, 672.)'.
New Haven A Hartford parties, and in June, 1887, the road was leased
Nashville Ac Decatnr.—{See Map Louisville & Nashville.)—Owns for 99
years to the N. Y. N. 11. A II. at 1 per cent on stock in 1887-88,
The road was rising to
from Nashville, Tenn., to Decatur, Ala., 122 miles.
1 per cent by 1889, an l thereafter remaining at 4 per cent. In
leased May 4, 1871, to the Louisv. A Nashv. RR. for 30 years from
1885-6, gross income, $812,509; not, $292,218; surplus. $10,384. (\.
July 1,1872, at a rental of 6 per cent per annum on the stock. The 43, p. 132; V. 45, p. 13.)
1 ^ssee assumed all the debt of the Nashville A Decatur Co. In 1835-86,
New Jer «ey Jit ctlou —Terminal road through Jersey City, Ho
gross earnings, $9-9.468; net, $399,670; int., taxes and dividends
boken and Weehawken, connecting the trunk lines terminating at those
$285,584; sur., $114,086. In 1834-85 gross, $1,061,956; net, $466, 168
points. Leased for 100 years from June 30, 1386, to the N. Y. Central
Natchez Jackson Ac Columbus.— Owns completed road from A II. R. RR. Co., which compauy guarantees tho bonds absolutely and
Natchez, Miss., to Jackson, Miss., 100 miles. Stock, $2,260,809. New owns the stock ($100,000) of "the company.
The mortgage is for
7 per cent bonds tor $600,000 authorized but very few issued; also a
$4,000,000. (V. 44, p. 731.)
new mortgage at 6 per cent, $12,500 per mile, has been executed to
New Jersey A; New York.—Owns from Erie Junction, N. J., to
retiio all prior li ns and provide for future requirements, but none yet
issued. 4 lie $174,000 are held for the company by a New York house. Stony Point, N. Y., 31 miles; Nanuet to New City, 5 miles. Leased—
Floating debt Dec. 31, 1886, $304,000.
Earnings for 1886, gross, Garnerville RR., 1 mile; total operated, 37 miles. The present com¬
pany was formed on reorganization after foreclosure in April 1880.
$184,326; net, $45,634. Earnings for 1885, $194,358; net, $60,923.
Stock outstanding, $1,440,800 common; $787,800 preferred. Control
Naugatuck.—Owns from Naugatuck Junction to Winsted, Conn.. of road is with preferred stock and first mortgage bonds till 6 per cent
564a miles; leased. Watertown A Waterbury RR., 4^ miles; total oper¬ dividends have been paid on preferred stock for three years. There are
ated, 66 miles, 5 miles of N. Y. N. H. Sc H. being used between Nauga¬ also $56,000 second mortgage 5 per cent bonds dee Jan. 1, 1936. Gro38
tuck Junction and Bridgeport. Leased for 99 years from April 1, 1887,
in 18*6, $185,406 ; expenses, $139,753 ; net earnings, $45,653.
to N. Y N. H. A IT. at $209,000 per year.
In 1885-86. gross, $704,336; earnings
V. L. Lary, President.
(V. 43, p. 215. 597, 753; V. 44, p. 621.)
net, $221,522. (V. 43, p. 718.)




-

18,'.23'520

KA1LKOAD STOCKS AND

1887.

November,

Sabieribera will

confer a great favor

DESCRIPTION.
VU.

Date
of
Road. Bonds

Miles
of

WiuniiA

VJJL

on

first page

Pref. stock, 5 per

of tables.

cent, non-cuaiulative

Istpref. stock, 5 per cent,

gold,

non-cumulative
fund
c
inort., income ..

1st mortgage,
sinking
Heio York dk Greenwood Lake.—1st
2d mort., income
Sew York dk Harlem—Common

stock

Preferred stock
Consol, mort., coup, or reg

Western.—Stock,
5 p.ct.
registered

H. Y. Lackawanna dk
guar.,
1st mortgage, coupon, may be
2d mort., guar, by Del. Lack. & West
H. Y. Lake Erie dk West.—Stock, common

1.56
156
132
214
200
200

years at

Dock Co., old mortgage

Long

mort.,

do

coup.,gold (for $7,500,000)

consolidated mortgage,

N. Y. L. E.
do
do
do

A W.

gold—

bonds.
reorganization 1st lieu b’ds, gold

do

do

funded coupon

gold
income bonds (non-cum.)
fund.coup.bds (redeem, at 105 A int.)
Collateral Tr. bonds, gold, red’ble at 110
Car trust bonds (only $600,000 are 6s)
Hew York dk Long Branch—Stock
2d consol, mort.,

--

Mortgage bonds

1887
1875
_____

1872
1880
1883

1847
1879
1853
1857
1858
1861
1863
1885
1870
1878
1878
1878
1878
1885
1882

4*2 p. ct)—
in 1880 at 5 per cent).

3d mort., gold (extended 40
4tli mort., gold, (extended

1st

523
523
523
513
40

1,678
1,678

Preferred stock
1st mortgage (extended in 1867 to 1897)
2d mortgage, gold (extended in 1879)
5th mortgage, convertible
Buffalo Branch Bonds

by giving Immediate notice

38

Size, or
Par
Value.

Massachusetts—1st mort. (for

....

1,000
500 Ac.

2,926,000
709,500

100 Ac.

182,600
3,000,000
4,500,000
16.890,000
3,705,977
2.500,000

1,000
1,000
1,000
500 Ac.
1.000
500 Ac.
300 Ac.

188*2

Payable

Map)—This is the com¬

formed under the laws of Connecticut to lease and operate all the
Huntington lines between Newport News, Va , and Memphis, Tenn. On
Jan. 1., 1887, the company owned $5,579,6 )0 Ches. Ohio A Southwest¬

stock. $l,055,5c0 Elizabethtown

Ohio

Lexington A Big Sandy RR. stock, and $1,723,000 Chesapeake A
bonds of 1918. Company leases the three roads mentioned, aggreating
1,040 miles, the former for 50 years and the latter two for 250 years,
agreeing to pay the expenses, interest and fixed charges so
as net

*

-

-

•

•

4 g.
7
7
4
4
7

1*4
6
5
m

m

•

•

•

•

•

Yearly.
M. A N.

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

5

6 g
6 A 5

m

3*2
5

1

m

m

8.
S.
O.
D.

J.

N.Y., 19 Cortlandt St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York and London
do
do

Oct. 1,

Jan.* 15,'i884
May 1,
Sept. 1,
Mar. 1,
Oct. 1,
June 1,
July 1,

N.

1897
1919
1923

1920
1888
1891
June, 1893
Oct. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
June 1, 1977
Deo. 1, 1969
Nov. 1, 1922

m

A. A O.
J. A D.

1921

July 1, 1887
July 1, 1887
May, 1900
Oct. 1, 1887
Jan. 1, 1921
Aug. 1, 1923

D.
0.
S.
S.
do
do
N.
D. Coupon of June,’86, off.
D. Last paid Dec. 1883.
D
New York A London.
N.

Central stock and 85 per cent on
1879, 250,000 shares ($25,000,000)

by Mr. W H.

Dividend.

Whom.

New York.
O.
A. New York, Co.’s Office.
do
do
8.
J. N.Y., Gr. Central Depot.
do
do
J.
do
do
N.
N. Y. by D. L. A W.
Q.-J.
do
do
J. A J.
do
do
F. A A.

m

m

•

•

pal,When Due.
Payable, and by Stocks—Last

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

6
7
5 g.
4 *flg.
5 g7
7
7
6 g.
7
7 g.
6 g.
6 g.
6

(?)

....

pany

preferred, and $3,442,000 common

Cent.

508,008
4,032,000
4,273.000
5,612,000
2,000,000
1,500,000

1,000

that company

ern

When

33,597,400

1,000

WTiere

Rate per

4,618^000

i;ooo

.

in the Supplement.)
Newport News Ac Uliss. Valley.—(See

Outstanding

of any
error discovered In tbese Tables.
Bonds—Princi'
INTEREST OR DIVIDENDS.

$100 $14,000,000
100
11,000,000
100
5,000,000
20,000,000
1,000
900,000
100 Ac.
1,800,000
100 Ac.
50
8,618,500
50
1,381,500
12,000,000
1,000
100
10,000,000
12,000,000
1,000
5,000.000
1,000
100
77,303,700
100
8,147.400
2,482,000
1,000
2,149,000
1,000

$2,750,000)..
New Jersey Southern.—The road extends from Poit Monmouth,
Bandy Hook, to Atco, 70 miles, with branch from Eatontown to Pt. Mon¬
mouth, 9 miles. The property was sold in foreclosure March 31,1879 (see
Chronicle, V. 28, p. 352), and the present company was organized July
25, 1879. The capital stock is $1,590,600. The property is subject to
$120,000 on the Tom’s River RR. and $200,000 on the Long Branch A
Sea Shore Railroad.
The bonds have interest guaranteed by the
New York A Long Branch Railroad by endorsement of the bonds, and
the Central of New Jersey agreed to assume those bonds. The road
is operated as a part of the Central New Jersey system.
Gross earn¬
ings in 1885 $138,574; net deficit, $80,340. Gross in 1886, $481,908;
deficit, $36,321
New London Northern.—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and
others. This road has been operated since Dec. 1, 1871, under lease to
the Central Vermont Railroad; the lease was for 20 years at $150,000
per.year, and $15,000 for each additional $100,000 of earnings over
$510,000 per year. In year ending Sept. 30, 1887, gross earnings were
Rental and interest received, $241,441;
$609,852; net, $189,246.
paid interest, &c., $98,697; dividend (6 per cent), $93,750; surplus,
$48,995.
New Orleans Ac Gulf.—The lino of the road is from New Orleans
south along the Mississippi River to Boliemi*. with a branch, making
68*s miles in all completed in 1887. The bonus were offered in London,
Nov., 1886, by Messrs. Satterthwait A Co. Capital stock authorized,
$300,000; issued, $240,700. (V. 43, p. 634; V. 45, p. 643.)
New Orleans <fc Northeastern.-Line of road from New Orleans,
La., to Meridian, Miss., 196 miles.
Stock is $5,000,000- This road be¬
longs to the'so-called “ Erlanger System,” and of the stock $4,:y20,c00
and $4,900,000 of the $5,000,000 first mortgage bonds are held by tlie
Ala. N. O. A Texas Pacific Junction Co. Gross earnings in 1886, $661,236; net, $105,611; deficit under interest, Ac., $246,785. (See title of

N. r. dk

Amount

77

BONDS.

1887-1892
Oct., 1886
1923

Y., 119 Liberty St.

the Hudson River stock. In Nov.,
sold to a syndicate of bankers

were

Vanderbilt at the price of 120,

and 100.000 shares sold
in 1886, 4. Prices of
89@10178;
1073a; in
112
12358@138;
1886,

afterwards.
Dividends of 8 per cent per annum had been paid since
1868, but in 1885 only 3^ per cent was paid, and
stock since 1870 Lave been: In 1871, 84i4@10388; in 1872,
in 1873, 7778<z> 106^2; in 1874, 9578®10558; In 1875, 100®
1^76. 96®117L2; in 1877, 85i4@109i4; 1878, 1033^115; in 1879,
@139; in 1880, 1223)15538; in 1881, 130H®155; in 1882,
in 1883, 111^3)12918: in 1884. 83^®122; in 1885, 81^@107i4; in

9834@11738; in 1887 to Nov. 18, 101^@1145a.
The debenture bonds of 1884 must be included in any new mortgage
issued prior to 1902.
Operations, Finances, Ac.—The New York Central A
Hudson
River RR. has an exceptionally rich local traffic, but the profits also
depend very much upon harmony among the trunk lines.
Tn Dec., 1885, a lease of the West Shore Railway was taken

for

at 4 per cent guaranteed, by N.
stock taken as consideration.
30, approximate returns were
—Quartcrended Sept 30 —.
Year ended Sept. 3o —.

475 years and the bonds of $50,000,000
Y. C. A Hud., and $10,000,000 West Shore
For the quarter and 3’ear ending Sept.
as follows:

1836.
1886-7.
1885-6.
$8,717,147 $35,259,000 $30,506,361

1887.

earnings. ...$9,512,000
Operating expenses 6,0S0,000

Gross

Net earnings...
First charges
Profit
Div. pd.,(l p. c.

4,877,675

22,405,500

18,610,377

$3,432,000

$3,839,472 $12,853 500 $11,895,984

1,926,886

7,773,500

7,245,885

$1,530,000

$1,912,586

$5,080,000

$4,650,099
3,577,132

1,902,000

894,000

qr.)

894,283

3,577,000

$1,072,967
63*55 in

plus
$636,000 $1,018,303 $1,503,000
percentage of operating expenses to earnings was
Dr86-7, against 61 in 1885-6.
Annual report for 1885-6 in Chronicle, V. 44, p. 58.
Sui
The

Net Income, Diviover exp., dends,

Year

ending Passenger

Freight (ton)

Sep.30. Mileage.
Mileage.
1883.429,385,561 2,200,896,780

Gross

Receipts. int.Arcnts. p. c.

Surplus

$33,770,722 $7,327,156 8 $179,024
28,148,667 4,069,759 8 *2,490,885
1885.438,397,774 2,137,824.205 24,429,441 2,176,342 3^*953,651
far
1886.476,128,729 2,414,266,463 30,506,362 4.650.100 4 1,072,968
earnings suffice, in the order of their priority, any surplus tip to 6 per
Deficit. In 1881-5 total deficit was $2,295,072.
cent to be divided to lessor companies, and the excess retained by the
lessee.
See annual report, with balance sheet, Ac., in V. 44, i>. 78 ». -(V. 43, p. 5, 23, 399, 74 5; V. 44, p. 22, 58, 212, 370; V. 45, p. 5, 26,
211, 456, 472.)
Registrar or stock, Metropolitan Trust Co., New York. Offices of Co.
No. 23 Broad st. and New Haven, Conn. -(V. 43, p. 547; V. 44, p. 90,
New York Chicago Ac St. Louis Rallimy.—Owns from Buffalo,
344, 466, 780; V. 4\ p. 211.)
N. Y., to Grand Crossing, Ill., 513 miles; least's in Buffalo 1^ miles;
Grand Crossing to Chicago 9 miles; total, 523 miles.
New York Brooklyn Ac Manhattan Beacli.—From Fresh
The former company was organized in 1881 and became known as
Pond Junction to Manhattan Beach, and branches to Bay Ridge and
Greenpoint, 20 mile-1. This was a consolidation Aug. 27, 1885, of the N. the •* Nickel Plate.” Sale in foreclosure took place May 19, 1887, and
tlie present company
Y. Bay Ridge & Jamaica RR., the N. Y. A Manhattan B. Railway Co.
was formed (see plan of reorganization V7.
and the L. I. City A Man. B. RR. Co. The railroads are leased for 99 44, p. 211) in September,
1887, by consolidation of compan’es
States traversed, and election of the following
years from 1885 to the Long Tsland RR- Co. at 35 per cent of gross in the several
W. K. Vanderbilt, Cornelius Vanderbilt, H.
earnings, but the rental guaranteed to be at least $95,980 in each year. board of director-:
McK Tvombly, J S. Kennedy. James A
Of the stock $650,000 is preferred for 5 per cent, but not cumulative.
Roosevelt, Charles Reed, F.
A. Mizener, 1). W. Corwin, J. II. Wado, F. 1’. Olcott, C. M, Depew and
-(V. 43, p. 125.)
New York Ac Canada.—Owns from Whitehall, N. Y., to Rouse’s Allyn Cox,
The first preferred stock has a 5 per cent preference,
Point, N. Y., 113 miles; branches: Ticomleroga, N. Y\, to Baldwin, non-cumulative and the preferred stock has next preference for 5 per
N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West cent, non-cumulative. A sinking fund of $10<),c;00 per year is pro¬
Chazy to Province line, 13 miles; total operated, 150 miles. The whole vided when the net earnings are $90o,000 or upwards, if bonds can he
line was completed Sept. 18, 1876. The road is leased and virtually bought at 10 i.
D. W. Caldwell. President. See abstract of mortgage
owned by the Delaware A Hudson Canal Company, which guarantees the
(Central Trust Company of New York, trustee). V. 45, p. 54 l.
bonds.
The stock is $4,000,000.
In year ending Sept. 30, 1837, gross
For the year ending Sept. 30, 18"7, the reports to tin: New York State
earnings were $828,970; net, $315,172; surplus over rentals and Commissioners sliowtd:
1885-86.
1886-87.
taxes, $47,082. In 1885-86, gross $772,664; net, $268,811; surplus,
1884.3S7,829,886 1,970,087,115

*

$32,305. (V. 45, p. 180, 614.) New York Central Ac Hudson,-Line of Road.—Owns from
New York City to Buffalo, N. Y., 442 miles; branches on New York
Central division, 307 miles;
total owned, 749 miles; lines leased—
West Shore RS., 426 miles, and branches, 22 miles; Troy A Green bush,
6 miles; Niagara Bridge A Canandaigua, 98 miles; Spuyten Duyvil A
Port Morris, 6 miles; New York A Harlem, 127 miles; Lake Mahopac, 7
miles; total, 694 miles; grand total, 1,443 miles. The second track
owned and leased is 873’miles; third track, 318 miles; fourth track,
299 miles; turnouts, 758 miles—making a total of 2,406 miles of track
owned by the company, and 1,282 miles leased, 3,688 miles in all.

RR., 104 miles, but reported sep¬
leased in Dec., 1885, for 475 years.
Organization, Ac. -Tins company was formed by a consolidation
of the New York Central and the Hudson River railroads Octobei
1,1869. The New York Central was a consolidation of several roads
under a special law of April 2, 1853. The Albany A Schenectady Rail¬
road, opened September 12, 1831, as the Mohawk A Hudson, was the
first railroad built in the State of New York. The Hudson River Rail¬
road was chartered May 12, 1846, and road opened October, 1851.
Stock and Bonds.—The famous scrip dividend of 80 per cent on the
capital stock of the New YTork Central was made in December, 1868.
and on the consolidation with the Hudson River road (Nov. 1, 1869) a
further dividend of 27 per cent was distributed on the New York
Also

operates the Dun. All. Val. A P*

arately.




The West Shore R’way was

Gross earnings

Net

earnings

Rentals, taxes, Ac. (no int. on

$3,595,169

$i,f 09,591

$1,177,352
415,066

$1,327,509

2,417,817

Operating expenses.

mortg ).

3,242,082

292,273

$762,286
$1,035,236
p. 60, 118, 211, 212, 244,
653, 811; V. 45, p. 53, 203,
240, 272, 292, 401,425, 541, 642, 613, 673, 676.)
New York Ac Greenwood Lake.—Owns from Jersey City, N. J.,
to Greenwood Lake, 46 miles; branches -- Ringwood Junction to
Ringwood, 2 miles; North Newark to Orange, N. J., 8 miles; total, 58
miles* This was the Montclair Railroad, opened in 1874.
It was sold
and reorganized as Montclair A Greenwood Lake, and again sold
October 12, 1878, and the present company organized. The New York
Lake Erie A Western purchased a controlling interest in the property
and now operate it. The holders of t he second mortgage bonds nave
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
fain
of thenet,
property.
Thepayments,
stock is $19,149. Gross earnings in
885,control
$188,474;
$21,514;
1886, $228,169; net, $8,239; payments, $17,895. Abram S. Hewitt,
Surplus

—(V. 43, p. 163, 334, 459, 60S, 774 ; V. 44,
276, 278, 308, 335, 344, 466, 495, 527, 621,

$100,000. Gross earnings in

President.




78

INVESTOR’

SUPLEMNT.
[Vol.

xlv.

November,

RAILROAD

1887.]

Subscribers will confer a great favor by giving
DESCRIPTION.
For

explanation of column headings, Ac., see notes
on first page of tables.

jf„ F. dt N. England—Stock
’

AND

STOCKS

70

BONDS.

Immediate notice of any error discovered In these Tables*

INTEREST OR DIVIDENDS.
Miles Date
Size, or
Amount
Where Payable, and
Rate per When
of
Par
of
Outstanding
Whom.
Cent.
Road. Bends. Value.
Payable
471

($20,000,000 auth’rized)

Preferred stock, 7 per cent cumulative
1st mortgage ($6,000,000 are 7s)
2d mortgage ($3,341,000 are 6s)
Notes and debts for terminal property
New fork New Haven dt Hartford—Stock
Mortgage bonds, (for $5.000,000)
r
HarlenfA Portchester, 1st mortgage guar—c&r
do
do
2d M., coup, or reg., guar..
if. Y. dt Northern—1st mort., gold
2d mort., gold, (income till Dec., 1891)
li etc York On.fari.n ft- Typ.sfp.rn—(Inmmon stock __ _
1st M., gold, for $4,000,000 (redeemable at 110)..
New York Penn. <£ Ohio—Prior lien bonds, gold,$A£
1st mort., gold (no foreclosure till 1895.) $ A A ..
2d mortgage, incomes. $ A £
3d mortgage, incomes, $ A £
if. F. Phila. dt Norfolk— 1st mortgage, gold
Inoome mortgage, non cumulative
if. Y. Prov. dt Boston— (Stonington)— Stock
First mortgage
1st mortgage (Stonington to New London)
N.Y. dt Rockaway Beacu— 1st mortgage, gold
c*
Ipc.nmc hnnds, nrm-cnmnl alive, reg
N Y.Susqueh.dt Western—1st mort., Midland of N. J.
Mortgage, gold, on Paterson Extension
New first mort., gold (2d M. on 72 miles)
c
New 2d M. ( $l,000,0u0 g"ld).3d M. on 72 miles..
N. Y. Tex dt Mex.—1st M.. gold, guar., $ or £
o *
Niagara Bridge dt Canandaigua—Stock
Norfolk Southern—1st mortgage, gold
2d mortgage, income (not cumulative)

....

321
321
....

263
123
12
12
54
54
417
320
432
432
432
432
112
....

82
50
12
16

...

73
...

134
134
92

100
75
75

$19,313,000

$....

....

1883
1873
1881
1887
1887
1884
1880
1880
1880
1880
1883
1883
....

1869
1881
1887
1887
1880
1881
1887
1887
1882
....

1880
1881

1,000
1,000
....

15,500,000
2,000,000

100

.

•

.

3ia

2*a

3,200,000

1,000

58,113,982
2,976,000

6g.

2,000,000

1,000,000
1,200,000

Ac.
Ac.
Ac.
Ac.

8,000.000

44,236,000
14,500,000
30,000,000
1,848,000
1,000,000

1,000

1,000
100

3,000,000
1,000,000

1,000

300,000

1,000
1,000
500 Ac.

1,000,000

1,000
1,000

900,000
1,000,000

York Lackawanna Sc Western.—(See Map of Del. Lacfc.
dt West.)— From Binghamton to Buffalo and International Bridge and
branches, 214 miles; built under the auspices of Del. Lack. A Western.

Opened Oct., 1882, and leased to Del. Lack. & West, for 99 years, with
a guaranty of the bonds and 5 per cent yearlv on the stock.
The latter
guaranty is written across the face of the certiff cates and signed by the I).
L. & W. officials. Kept. 30, 1886, owed D. L. & W. for advances $782,770.
City,

J.

A D.
....

....

Nov.

do
do
do

York, Office.
do

1,1887

Jan., 1905

Aug. 1,1902
1887-92

Oot. 1, 1887
June 1, 1903
1903
June 1,1911
Oct. 1, 1927
Dec. 1, 1927

New York
A S.
Sept. 1, 1914
A 8. London and New York. March 1,1895
do
do
A J.
July 1, 1905
do
do
AN.
May 1, 1910
do
do
AN.
May, 1915
A J. Phila., Penn.RR. Office. Jan. 1,1923
do
Oot. 1,1933
do
Q—Feb. N. Y., Central Trust Co. Nov. 10, 1887
do
J. A J.
do
July 1, 1899
do
do
A. A O.
April 1, 1901
M. A S. N.Y., Treasurer’s Office. Sept. 1, 1927

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

g.
g.
g.
gg.

....

2*a
7
4

A. A 0.
T. A D.
J. A J.
4*ag. F. A A.
4 g. A. A O.
A. A 0.
3
6 g. M. A S.
6
Yearly.

1,442,500

do
do
do
New
do

A D.

sg-

3,750,000
636,000

N.Y., Grand Cen. Depot.

A. A O.

3,500,000

500
100

New

6
7
5
5
6
6

J.

1,000,000
1,000,000
250,000

1,000
1,000
1,000

annually in April. All operations of the main road are included with
thosebf the N. Y. Central A Hudson.

* •

Q.-J.

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

•

Stocks—Last
Dividenu.

M. A N.

4
6 A 7
4
5 g.
4 g.

l,000Ac
1,000

New York Sc Harlem.—Owns from New York City to Chatham,
N. Y., 127 miles. From Chatham to Albany, 24 miles; the Bost. & Alb.,
RR. is used.
This company owns the Fourth Avenue street railroad
The property (except the horse railroad) was leased April 1, 1873, tor
401 years, to the N. Y. Central & Hudson River RR. at 8 per cent divi*
idends on the stock and the interest on the bonds. The Fourth ave. horse
railroad was retained, and extra dividends are paid but of its receipts

New York Lake Erie Sc Western.—Line of Road.—Jersey
N. J., to Dunkirk, N. Y., 4ti0 miles : branches—Piermont. 18 miles;

.

pal,^When Due.

by

Boston.
6 A 7
J. A J. Bos., Safe Dep.AT’stCo.
Boston.
4,361,000 3 to 5 A 6 F. A A.
Boston
4 A 5
Various
1,692,496

1,900,000
10,000,000

....

1876
1882
1882

.

Bonds—Princi¬

6
6 g.
5 g.

N.
N.

i, i910

Y., Nat. Park Bank.

April

N. Y., office of Co.

1911
Jan. 1, 1937
Feb. 1, 1937

Y., Nat. Park Bank.

New York, Park

Bank.

Apr. 1, 1912
Oot. 1, 1887
Y., Cent. RR. Office.
Int.fund. from Sep. 1,’84 Sept. 1, 1920
Jan. 1, 1970
N.Y.,So.P»c.Co.;L md’n
N.

OPERATIONS AND FISCAL RE8ULT8.

1882-83.
Operations*—
1883-84.
1884-85.
1885-86.
Passengers carried..
6,734,045
7,209,054
7,727,051
6,934,724
Passeuger mileage .. 247,147,117 235,105,058 250,635,115 256,137,487
Freight (tons) moved 13,610.623 16,219,598 14,959,970 18,668,239
Freight (tons) mil’ge 2306946892 2498888976 2381778927 2882311126
Figures of traffic do not include coal and supplies.
$
4,675,872
15,773,004
1,188,559

$
4,632,229

ham mgs—

Passenger
Freight
Mail, expr’s, rents, Ac.
Total gross earn’gs.

17,213,621
22.802.246

21,637,435

Operating expenses.

15,444,583

16.358.077

7,357,603

5,279,358

Net

earnings

956,396

$

3,986.793
13,813,249

4,393,812
16,894,908
1,134,530
1.211,326
18,934,572 22.500,040
14.347.516 16,388,638
6.111,408
4,587,056

69*52
6979
66*97
64*78
P. c. op. exp.to earn’s
The statement of profit and loss inc’udes numerous items, and refer¬
ence should be made to the table in V. 43, p. 669, of which the totals are
as follows for the years ending Sept. 30. 1883, 1884, 1885 and 1886:
1883.
1884.
1885.
1880.
Total income....
$8,234,463
$7,057,869
$6,356,983 $5,589,748
Total debits*....
6,968,978
7,055,606
6,966,691
7,043,258

Newburg, 19 miles: Buffalo. 60 miles: Erie International RR., 5 miles;
Rutherford to Ridgewood, 10 miles; leased—Montgomery & Erie RR.,
10 miles; Goshen & Deckertown, 12 miles; Newburg A New York,
13 miles; Paterson Newark. AN. Y., 11 miles; Hawley A Honesdale, 24
Surp.or deficit..
$1,265,485 def.$698,622df.$l,376,943 8ur.$14,611
miles; Jefferson RR., 37 miles; Buff. Brad. & Pittsburg and extension, 68
miles; Buff. N. Y. A Erie, 140 miles; Suspension Bridge & Erie Junction,
Includes full interest on 2d consols each year whether paid or not.
23 miles; Rochester & Genessee Valley, 18 miles; Avon Gen. & Mount
-(V. 43. p. 23, 132, 191, 245, 399, 648, 669, 671 ; V 44, p. 22, 90,
Morris, 18 miles; Pat. & Hud., 15 miles; Pat. & Ram., 15 miles; Lockport
A Buff., 15 miles; Buff. & Southw., 68 miles: controlled—Newark & Hud., 149, 212, 308, 369, 401,466, 551, 602, 681; V. 45, p. 26, 143, 211, 212,
8 miles; Weehawken N.\r. & Ft. Lee, 4 miles; Northern of N. J., 25 miles; 305, 43 .)
Middletown & Crawford, 11 miles; N. Y. Penn. A Ohio and branches, 573
New York Sc Long Branch,-This company was formed in 1881
miles; total operated, 1,678 miles.
by consolidation of several roads extending from Perth Amboy to
On May 1,1883, began to operate the New York Pennsylvania A Ohio Bay Head, 38 miles.
The Central RR. of New Jersey owns a ma¬
under lease, and on May 14, 1883, the Chicago A Atlantic road was jority of the stock, and under the reorganization $1,500,000 is held as
opened from Marion, Ohio (on the New York Pennsylvania & Ohio), to security for the new mortgage. In 1886 gross earnings were $602,552;
Chicago, 268 miles, and under control of N. Y. Lake Erie & West, gave a net, $129,099.
*

complete line from New York to Chicago; but in 1885, owing to dissen

Bloii8, this

broken.
Organization. Leases, Ac.—The New York & Erie RR. was chartered
April 24, 1832, and the State of New York loaned the company $3,000,000; the road was opened to Dunkirk April 22, 1851. The company
was

was reorganized under the name of Erie Railway
This Erie Railway was sold in foreclosure under the

Co. June 25, 1861.
second consolidated

New York Sc Massachusetts.—Owns from Poughkeepsie to
Boston Corners, 40 mi es, and projected to Chicopee, Mass
This road
embraces the former Pjughkeepoe Hartford A Boston, foreclosed in

1886, and is to be extended as a connection for the Poughkeepsie
Bridge. The bonds have not yet been issued.
G. P. Ptlton, President,

Poughkeepsie, N. Y.
New

York Sc New

England.—The mileage owned is

as

fol¬

The present company was organized and took low's: Boston to Hopewell Junction, 215 miles; Wicopee to Newburg, 3
The Long Dock Co. has stock of $800,000, all
Providence to Willimantic, 58 miles; branches—Newton, Mass.,
owned by the N. Y. L. E. A W.; its property consists of lands and lands miles;
to Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southunder water, about 577 acres, with piers, buildings, Ac.
bridge, Mass., 17 miles; Elmwood to Dedham, Mass., 1^miles; Charles
Stock and Bonds.—Preferred stock lias a prior right to 6 per cent Riv. to Ridge Hill, Mass., 2 miles; other branches, 1*2 miles; total owned,
(non-cumulativel from the net profits, “as declared by the board of di¬ 326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to Rock¬
rectors,” but the U. S. Supreme Court held in 1886 that this stock has ville, 4 miles; Springtield to E. Hartford, Ac., 34 miles; Norwich A Wor¬
no legal right to claim a dizidend, though net earnings are sufficient.
cester RR., 66 miles; total leased, 119 miles; also has running arrange¬
Prices of com. and pref. stock since June, 1878, have been as follows:
ments over 26 miles more. Total, 471 miles.
Controls Norwich A N. V.
Com.—In 1878, 7^W22^‘, in 1879, 21^0)49; in 1880, 30^51^; in 1881,
Steamer line.
39\®5278; in 1882,3314®43%; in 1883, 2678®4078; in 1884, 11WJS^;,
The former Boston Hartford A Erie Railroad became insolvent and was
in 1885, 914®2?78; in 1886, 22V</>383s; in 1887 to Nov. 18, inclusive
succeeded by this company, formed in 1873. In 1878-79 the company
241sa>3558. Pref.—In 1878,2113®38; in 1879, 37Hj®7818; in 1880, 47 acquired the Hartford Prov. A Fishkill RR. Since the completion of
®93V, In 1881, 80^961*; in 1882, 67'a>88H; in 1883,72®83; in 1884, the line to Fishkill on the Hudson in 1883, the through traffic rates
20®71; in 1885, 18®57; in 1886, 5u^a>8m>; in 1887 to Nov. 18, inclu¬ have been demoralized, and the N. Y. A New England has not yet
mortgage in 1878.

possession June 1,1878.

sive, 59 ®76.
The 1st

consol, funded coupon bonds are

dated mortgage.

secured by lien of consoli¬

On the second consolidated mortgage no foreclosure

take p'ace till six successive coupons .are in default, but all ot one
coupon must be paid before any part of a subsequent coupon is
paid. In 1883 the collat’l trust bonds were issued (the U. 8. Trust
can

Co. trustee; see V. 38, p. 509), and redeemable at 110 on three months’
notice; about $730,000 were so redeemed Nov., 1885. The 2d consol,
funded coupon bonds of 1885 were issued to fund three past due
ooupons and the coupon of June. 1886, and the coups, are deposited as
security. These bonds are redeemable at any time at 105 and accrued
interest. The Long Dock mort. for $7,500,000 was issued in 1885
($3,000,000 being reserved to meet the old bonds), and the bonds under
this mort. are payable at 110 from proceeds of laud sales.
Operations, Finances, Ac.—The company since its reorganization

in 1878 lias become

a

standard gauge

system.

The income account foi

several years showed a considerable surplus over fixed
1883-84 the income fell off largely, and there was a

charges, but in
deficit below the

interest requirements, and three coupons, June, 1884, to June, 1885,
on the 2d consol
bonds, were passed.
Some of the holders of car trust bonds have relinquished their right

to annual drawings
of principal, and 90 per cent of the holders agreed
to reduce their interest to 5
per cent, but other holders obtained a de¬
cision sustaining their original contract.

From October, 1886, to June 30, 1887 (9 months) goss earnings were
net, $5,518,296, against
$4,874,614; surplus over fixed charges $640,117, against a deficit of

$17,714,826, against $16,223,109 in 1885-86;
$17,064.

From October 1, 18:6, to Aug. 31, 1887 (11 months), gross

5vere

earnings
$22,026,699, against $20,260,171 in lb85-6; net, $6,467,137,

against $5,782,121.
The annual report for year ending Sept. 30, 1886,
Chronicle, V. 43, p. 648 and 669, had the following:




published in the

realized the full benetit of tint extension.
On January 1, 1884, Mr. C. P. Clark, the President, was appointed the
receiver, and so remained till Jar. 1, 1886, when the road was returned
to its owrners. For the car trust bonds 2d mortg. bonds were issued,
bearing 3 per cent to Feb. 1890, 5 per cent to Feb 1892 ami 6 for bal¬
ance or term.
In 1885 $2,000,000 of 7 p. c. cumulative preferred stock
at par taken by stockholders and others cleared off the floating debt.
Annual report for year ending Sept. 30, 1886, in V. 43, p. 70.

Operations, Ac., for four years past were :

INCOME ACCOUNT.

1884-85.

1883-84.

Total income
Disbursements—
Rentals paid
Interest on bonds*.
Iut. on floating debt.
Int.< >n car t r’si s A mis.
.

Tot’ldisb’ments.

1,243,339

428,122

1,010,704

1,278,800

88,903
916,273
10,113
82,103

130,132
933,221
28,769
32,041

66,235
964,6*29
94,269
9,507

1,097,397

1,124,166
def. 113,459

def 669,275

1886 87.

$
$
3,863,994 4,217,685

31,846

35,411

1,397,307

••••••

133.000

iiai*
*

Balance

1885-86.

3.288,946
987,231
23,473

3,337,901
396,276

Net earnings
Other receipts

7

$

$

Receipts—
Cross earnings

1,267,640- 1,269,159
11,160 sur.128,148

sur.

including iut. on Terminals aiulfull interest on bonds each year.
22, 119, 185, 276, 308, 3 44, 525, 551, 682; V. 45, p. 178, 305,
614, 673.)
New York New Haven Sc Hartford.—Owns from Harlem JuncN. Y., to Springtield, Mass., J23 miles; branches to New Britain, Middle*
—V. 44, p.

SUPPLEMENT,

INVESTORS’
"

"

'

'

"

'

'

'

80
'

'

Immediate notice of any error

great favoi by giving

explanation of column headings,
on first page of tables.

Date
Size, or
Par
of
Road. Bonds Value.

Miles
of

&c., see notes

Norfolk, Sou them— (Continued)—
2d mortgage debenture
Funded mt. bonds ($270,000 secured by coupons)
Norfolk <& Western— Common stock
Preferred (6 per cent) stock
General mortgag, gold (for $11,000,000)
1st M., gold, on New Riv. div, (coup, or reg.)
Improv. & Ext. inort., gold, ($8,000,000 author’d)

533
533
428
106
533
533
115

Car trust

Convertible debcnt’res (red’ble on 30 days’ notice)
Norfolk & Petersburg—2d ruort
South Side—1st pref. con. M. (ext. in ’85 and ’8G)
guar. Petersb’rg
do
2d
do
3d
do
do

Virginia & Tenn.—Enlarged mort. (extend’d in
do
do
4th mortgage

’84)

North Carolina—Stock, common
Preferred stock
Mortgage bonds
North Pacific Coast— 1st and 2d mortgages
1st mort. Non h Pacific Coast Extension Co
North Pennsylvania- -Stock, guar
2d mortgage
General mortgage bonds

81
133
133
133
214
214
223
223
223

76

1,000
1,000
1,000
500

1,000
1,000
200 &c.
200 &c.

^

^

^

150.000

Consol, mort., gold (for $1,836,000)
Northern (Cal.)—1st mortgage ($6,300,000), gold..
San Pablo & Tulare—1st mort. ($3.750,000)

500 &c.

50
500
500

149

1869
1869
1883
1877

1,000
1,000

47

1878

1.000

&Portchester RR., 12 miles;
Air Line and branch, 54

town audSuffield, 18 miles, leased—Harlem
Shore Line RR., 50 miles; Boston & New York

miles—total operated, 263
of the New York& New
The company uses
Y. City and pays a
large rent therefor. The company leases the Harlem River & Port¬
chester Railioad, and guarantees the bonds. In November, 1882, the
lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an¬
num on the preferred stock was made.
In Sept., 1882, the stock of the
Hart. & Conn. Val. road was purchased. In April, 1881, a controlling in¬
terest was bought in the N. naven & Northampton RR. In July, 1887,
it was voted to lease the New Canaan road, the Naugatuck, the New
Haven & Northampton and the Hartford tfe Connecticut Valley.
From October 1, 1886. to Sept. 30, 1887, gross earnings were $7,890,
209, against $7,601,946 in 1885-86. Fiscal year ends Sept. 30. Annual
miles. This was a consolidation July 24, 1872,
Haven and the Hartford & New Haven railroads.
the N. Y. 6c Har. RR. from Williamsbridge into N.

Gross earnings

Operating expenses
Net

earnings

4,399,750
1,500,000
4,169,500
1,200,000
899,350
820,000

1881
102
102

in V. 44, p. 58.
1883-4.

210,000
1,100,000

50

i'40

8

5, 6 & 8

3,000,000
1,000,000

m

322.000

694,000
3,964,000
1.023.000

1884-5.
$
6,895,824
4,449,288

7,601,946

2,232,245

2,446,536

2,826,126

422,992

425,668

442,876

5 & 6
6
5
8
3
3
8
6
^

™

n ra

2
7
7
3
6
8
8
6 g.
6 g6

Payable, and by
Whom.

A. & O. Int.fund. from

Sep. 1/84

Various
m

m

Bonds—Prinoi
pal,When Due.
Stocks—Laet
Dividend.
Oct. 1, 1921
1920 & 1921

mm

Jan". *i 5, *18 84

....

M. & N. N. Y. and Philadelphia.
May 1, i93i
do
do
A. & 0.
April l, 1932
do
do
Feb.
F. & A.
1, 1934
Dec. 1, 1924
do
do
G.-M.
do
do
June
M. & S.
1, 1957
do
do
Various.
M’ntbly
Jan.
Philadelphia Office.
J. & J.
15,1894
J. & J. N. Y. and Philadelphia. July 1, 1893
1888 to 1900
do
do
J. & J.
I828 to 1900
do
do
J. & J.
Jan. 1,’96-1900
do
do
J. & J.
June 30,1900
do
do
J. & J.
Mch. 1, 1900
do
do
J. & J.
Sept. 1, 1887
M. & 8.
Burlington, N. C.
do
do
Sept. 1, 1887
M. & S.
do
do
Nov., 1888
M. & N.
Nov. 1, 1901
M. & N.
Jan. 2. 1889
J. & J.
Philadelphia, Office. Nov. 25, 1887
Q.-F.
do
do
May 1, 1896
M. & N.
1903
do
do
J. & J.
do
do
Sept. 1, 1905
M. & S.
In 1884-5
....

M.
M.
J.
T.
A.

&
&
&
&
&

Charleston, Office.
S.
do
do
S.
J. N. Y., J»lin Paton & Co.
Southern Paeilic Co.
J.
do
do
O.

Sept, 1, 1899
Sept. 1, 1899
Jan. 1, 1933
Jan. 1,1907
April 1, 1908

second and third mortgages there
foreclose. The stock is—preferred
$10,000,000; common, $34,999,350. The deferred warrants Dec. 31.
’86, were $5,502,176. Bonds above are also secured on leasehold estates,
A lease to N. Y. Lake Erie 6c Western from May 1, 1883, was modi¬
fied from April 1, 1887. The rental is 32 per cent of all gross earnings
up to $6,000,000, and increased by 1-10 of 1 per cent on each $100,1U0 of gross earnings above $6,000,000 until the gross earnings are
$7,250,000, and then 3tsper eent of all earnings. But if 32 per cent
of the gross earnings should ever be less than a specified minimum sum
of $1,757,055 to be paid yearly, then the deficit is to be made up without
Interest out of the excess in any subsequent j'ear. Out of the rental paid,
the N. Y. P. & O. has to pay its interest and rentals, and a payment of
$260,346 a year to the car trust. See V. 45, p. 211, 614.
Earnings lor year ending Sept. 30, 1886, $6,161,107; net, $2,011,522;
rental to N. Y. P. & O., $2,001,101; surplus of N. Y. P. & O. after all pay¬
ments, $9,876. (V. 44, p. 342, 370: V. 45, p. 84, 143, ill, 614, 673.)
the mortgage is suspended. On the
Is no right to sue the company or to

1885-6.

$
6,887,259
4,655,044

mmm

503,000
395,300
990,000
1,000,000

100
100
500

1881

Payable

496,000

452,800

1,000
1,000

’67-’68

When

Cent.

m

1,000
1,000

1881
1882
1883
1884
1887
Var’s
1884
1868
1866
1866
1866
1854
1865

Where

Rate per

6
$250,000
6
345,000
7,000,000
22,000,000 3*a scrip.
6 g.
6,907,000
6 g.
2,000.000
6 g.
3,500,000
7 g.
1,500,000
5 g.
2,500,000
1,297,642
6
525,000

•

1st mortgage
2d mortgage

report for 18b5-fc6 was

Outstanding

100
100

88
56

by $1,200,000 stock
V.)—Stock

Canaan Road, 8

Amount

1881
$1,000
300
’80-’82

AcQustment inort., gold (red’ble after ’94 at 110).
1st M. Clinch Valley Div., gold (for $3,325,000)c*

miles; Stamford 6c New

discovered in these Tables.

INTEREST OR DIVIDENDS.

DESCRIPTION.

III

■■■■ ■■

~

'

Sabaerlberc will confer a

Bonds secured
Northeastern (S.

| V ol. XLV.

$

4,775,820

New York Philadelphia Sc Norfolk.—Operates from Delniar,
Del., to Cape Charles, Va., 95 miles, and King's Creek, Md., to Crisfield,
17 miles; total, 112 miles. Successor of the Peninsula RR. Co. of Va.,
Jan. 1, 1884, purchased the Eastern Shore (Md.) RR., Delmar to Crisfield, 38 miles. Capital stock, $1,714,375. There is also a 6 per cent
bottomry mortgage for $225,000 due in D87. From January 1 to

September 30 in 1887, gross earnings were $389,607, against $317,988
in 1886; net, $73,447, against $52,826.
Gross earnings in 1886 were
250,000 $125,906; net, $61,118: defi ic ut der all interest, $78,063. Gross in
250,000
250.052
1885, $313,148 ; net, $18,500; interest, $120,007. A. J. Cassatt, Pres.,
692,876 Philadelphia.
675,668
673,044
Total
2,133,250
New York Providence A: Boston.—Owns from Providence, R.
1,770,868
1,559,171
Surplus for dividends. ..
1,550,000 I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch,
1,550,000
1,550,000
Dividends paid
4^2 miles; operates also Pawtuxet branch roads, 5Lj miles; total oper¬
583,250 ated, 82 miles. Owns a n aiomy interest in the Providence & Stoning,
220,868
9,171
Balance
V. 45, p. 53, 84, 240, 673.) ton Steamship Line, which has a capital of $1,400,000. Gross earnings
r (V. 44, p. 58, 212, 495, 586, 653, 681, 782;
in 1885-86, $1,237,120, aga 11st $1,139,886 in 1884-85; net earnings,
New York Sc Northern.—Owns from 157th Street and 8th $376,073, against $378,370.
(V. 43, p. 745.)
Avenue, New York City (connecting with Metropolitan Elevated), to
New York Sc Rockaway Beach,-Owns from Glendale Junction
Brewsters, N. Y., and branch, 54 miles. The former New- York City
to Rockaway Beach. 10^ miles; leases trackage—Glendale Junction to
& Northt rn was sold in foieclosure Aug. 17, 1887, and this company
Long Island City, 6^ miles; Fresh Pond to Bushwiok. 28i miles; Woodwas organized with common stock of $3,000,000 and pref. 5 per cent
haven to Brooklyn, 6^ miles; total operated, 26*4 miles.
The stock is
stock of $6,000,000. The following directors were elected: A. Baylis,
$1,000,000. Under L. I. RR. contrt 1. Foreclosure sale of the N. Y.
D. E. H. 1>» liner, H. F. Dimock, J. B. Erliardt, G. J. Forrest, W. H. Hoi
Woodham & Rockaway road was made in June, 1887, and new securi¬
lister, A. Lichensteiu, J. J. McCook, A. Marcus, VV. Mertens, R. Randall, ties Issued as above. (V. 44, p. 713; V. 45, p. 13, 341; V. 45, p. 572).
G. W. Smith and G. L. Stone.
Joel B. Erliardt, President.
New York Susquehanna Sc Western.—Jersey City to Gravel
From Jan. 1 to June 30 in 1887 (6 months), gross earnings were
Place, 101 miles; Two Bridges, N. J..to Uuionville, N. Y.,21 miles; other
$265,015, against $249,371 in 1886; net, $35,722, against
deficit under fixed charges, $94,478, against $78,367.
(V. 43. p. 547 ; branches, 12 miles; leased— Uuionville. N. Y., to Middletown, N. Y., 14m.;
Lodi Br., 2m.; Penn. RR. trackage, 3m.; Passaic Br.. 3m.; total, 155m.
V. 44, p. 90, 211,235,370, 499, 586, 752; V. 45, p. 135,240,272,512,
The New Jersey Midland was sold in foreclosure Feb. 21, 1880, and
643.)
the Midland oi New Jersey was organized. The New York Susquehanna
New York Ontario Sc Western.—Owns from Oswego, N. Yr., & Western was a consolidation in June, 1881, of the Midland of New
branches to New Berlin, 22 miles; Jersey and other railroads. Stock common is $13,000,000;
to Cornwall, N. Y., 273 miles;
to Delhi, 17 miles; to Elleuville,8 miles; total owned, 320 miles; leases
(cumulative 6 per cent), $8,000,000. The New Jersey Midland junior
Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles. By con¬ securities were exchangeable into stock of this company on certain
tract has right over West Shore RR. from Cornwall to Wecliawken, 53
terms, and the exchanges up to Jan. 1, 1887, left $1,844,474 of the old
miles; total operated, 417 miles.
stock, income bonds and scrip not yet exchanged.
In May, 1886, made the agreement with the D. 6c II. Canal Co. for
I11 Dec., 1886, new 5 per ct. bonds were proposed, to exchange for the
operation of the U. C. & Bing, and the Rome 6c Clin, roads lor 30 years first mort. bonds and coupon scrip, and the exchange was generally ac¬

Disbursements—
Rentals paid
Interest on debt

-

$48,531;

preferred

percentage basis.

bondholders, making the debt as above given, though some few
York 6c Oswego Midland. Main line was opened cepted
holders are r< portid to have h Id out. (See annual report V. 44, p. 619.)
July, 1871. Default was made in 1873. The main line was sold in fore¬
From Jan. 1 to Aug. 31, 1887 (8 mos.), gross earnings were $8b7,closure Nov. 14, 1879.
Present company organized January 22, 1880. 140, against $696,474 in 1886; net, $389,645, against $290,615,
Of the $4,000,000 of 6 per cent first mortgage bonds $2,000,000 were
Income account has been as follows:
used to retire the preferred stock, of which $24,000 was outstanding
INCOME ACCOUNT.
1883.
1885.
1884.
1886.
Sept., 1887. By agreement with the new West Shore Co. in January,
1886, the N. Y. O. & W. took title to the road, Middleton to Cornwall,
$
$
Receipts—
$
and a right to run its trains over the West Shore from Cornwall to WeeTotal gross earnings
.1,038,656 1,034,208 1,092,355
hawken by payment of a fixed sum per mile for trackage.
Net earnings
:
400,665
416,521
474,835
From Oct. 1,188*?, to Aug, 31, 1887 (11 1110s.), gross earnings were
Other income
44,023
$1,323,821, acainst $1,360,952 in 1885-86; net, $201,268, against
501,309
$189,584.
416,521
474,835
Total
46 0,065
0.1 a

This was the New

$
1,129,441
457,286

ending Sept. 30, 1886, gross earnings were $1,492,851;
See annual report in V. 43, p. 606.
1, 1886, to June 30, 1887 (9 mos.). gross earnings weie

I11 the year

net, $221,999.
From Oct.

$990,249, against $1,069,964; in 1885-6; net, $154,599, against *161,716; deficit under charges, $34,801, against a surplus of $41,850. (V.
43, p. 606. 619; V. 44, p. 212, 276, 308, 434, 451, 654, 713; V. 45, p.
26, 143. 240. 272. 437, 673.)
New York Pennsylvania
N. Y., to Dayton, O., 388 miles;

Sc Oliio.—Owns from Salamanca,

branches—to Oil City, 34 miles; to
Silver Creek, O., 2 miles; total owned, 424 miles.
Leased lines—
CTeve.A Mahon. RR.,8i m.; Niles A Now Lisbon RR., 36 in.; other small
branches, 32 in.; total operated, 573 miles. Changed to standard gauge
June, 18§0.
Formerly Atlantic it Great Western Railway Sold’July
1, 1871, and leased to Erie on May 1.1874, but lease not carried out.
Again sold Jan. 6, 1680, and reorganized by a Loudon committee
of stock and bond holders. (8ee V. 30, p. 143.)
Five trustees exorcise the voting power of the new stock until the third
mort. bondholders receive 7 per cent interest in cash during three years.
The first mortgage bonds bear 7 per cent, whatever portion of this that
may not be earned to be payable in deferred warrants, to be capitalized
in bonds of the same class; payment of interest to become absolute not
later than July 1,1895, and until July 1, 1S95, the right to foreclose




Disbursements—
Interest on bonds
Rentals
Car trust obligieticns

382,500
•

411,000
25,000
83,192

*327,095
25,000
t

92,352

*327,765
29,500
155,919

382,500
519.192
439,147
513,184
17,565 df.102,671 sur. 35,388 df. 11,875
Half interest only paid on N. Y. Sus. 6c W. firsts and debentures,
t The car trusts accrued during the year amounted to $117,552, of
winch payment of $25,200 was deferred.
(V 43, p. 335, 368, 516, 672, 746; V. 44, p. 22, 149, 308, 619, 752;
45, p. 143, 211, 500.)
New York Texas Sc Mexican.- Line projected from Rosenberg

Total
Balance

disbursements..

sur.

*

V.

—

Junction, Texas, to

Brownsville, 350 miles. Completed

Rosenberg to
6s yet
oper¬

Victoria, 92 miles. Stock, $814,800. There are also $75,500
outstanding. In September, 1885, sold to So. Devel. Co. and is
ated by the So. Paeilic Co., which guarantees the 4 per cent
From Jan. 1 to St-pt. 30, in 1S&7 (9 mos.), cross earnings were
against $111,260 ; net, $13,354, against $376. In 1886 gro.-s
were $159,858; net, $9,006.
(V. 43, p. 133, 163; V. 44, p. 335,

bonds.

p.

45j 438.)

$125,200,
earnings
344; V.

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:!

Subscriber* will confer a great favor
DESCRIPTION.
For

SUPPLEMENT.

INVESTORS’

83

by giving Immediate notice of any error discovered In these Tables.
Bonds—Prinol
INTEREST
Miles

of
explanation of column headings, &c., see notes
Road.
on first page of tables.

Northern. N. II.—Stock
Northern Central—Stock
1st mortgage, State (Maryland) loan
2d mortgage, coupon
Consolidated mortgage, gold, coupon
Consolidated mortgage, gold, registered
Consol, gen. mort., gold, s. f., coup., £ or $
do
do
gold, coup. $CAD
do
do
gold, coup., E
2d general mort., “A,” coupon (sinking
do
do
“ B.” coupon
Union RR., 1st mortgage (assumed)
do
2d mortgage (assumed)

Date
of
Bonds

83
323
138
138
138
138
138

AAB

®

-

—

•

•

•

«

•

138
.%

m

26
Northern of New Jersey—Stock
21
1st mortgage, extended
21
2d mortgage
Northern Pacific—Fret. stock(8 p. c., not cum’tive). 2,807
2,807
Common stock
205
1st M. and Id. gr., Missouri Div., red. at par..c*<fcr
225
1st M. and Id. gr., P. d’Or. Div., red. at par..c *&r
Cons. 1st M. Id. g., gold, $25,000 p. m
c*&r 2,134
All
do
2d m., gold, land grant
©*&r
3d mort., gold (for $12,000,000)
Dividend certificates
Jas. Riv. Val. HR. 1st M., gold, guar., s. f
c*

Spokane A Palouse, 1st M., gold, guar., s. f
c*
Duluth A Manitoba, 1st M., gold, guar., s. f
c*
Helena A Red Mountain, 1st M., gd., guar., s. f..c*
Helena Boul. Val. A Butte, 1st M., gd., gu., s. f.c*
Drummond A Philipsburg, 1st M., gd., gu., s. f.c*
Northern. Pae. Ter.Co.—1st M., g. ($5,000,000) cp..

or
Par
Value.

$100

$3,030,692

50

7,150,000
1,500,000
1,126,000
2,599,000
205,000
2,366,000
2,000,000
1,220,000

m

m

m

m

m

....

....

to
in
perpetuity to the New York Central A Hudson at $60,000 per annum,
with right of lessee to commute by payment of a gross sum of $1,000,000.
Owns from Norfolk, Va., to Edenton, N. C., 73
miles. Capital stock, $1,000,000. The holders of 1st mort and deben¬
ture bonds funded their interest for five years, Sept, and Oct., 1884, to
March aud April, 1889, respectively.
Gross earnings in 1885, $206,310; net, $71,165; surplus over all payments, $6,953. Gross in 1886,
$210,200; net, $66,002; surplus over all payments, $11,038.
Norfolk Sc Western.—(See Map.)—Owns from Norfolk, Va.,to Pe
tersburg, Va,, 81 miles; Petersburg. Va., to Lynchburg, Va. 123 miles,
Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to Citv Point,
Va., 10 miles; Junction to Saltville, Va.. 10 miles; New River Division.
75 miles; coal mine branches, 8 miles; Cripple Creek extension, 23
miles; total operated Dec. 31, 1886, 533 miles.
The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor¬
folk A Petersburg, South 8ide and the Virginia & Tennessee roads, in all
of which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi A Ohio consolidated oonds was made
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881,
and was reorganized as the Norfolk & Western. Of the general mort¬
gage, enough is reserved to take up prior liens.
In May, 1887, the negotiations for sale of $2,500,000 bonds on the
Clinch Valley Division (connecting with Louisville A Nashville) and
$4,000,000 pref. stock were referred to in V. 44, p. 654. Abstract of
mortgage (Fidelity Ins. Trust A Safe D. Co. of Phila. Trustee.) in V. 45,
p. 541.
The management of the company

lias been active in extending and
improving the property, and in 1887 the above named line is in progress
to connect with the Louisville & Nashville.
From Jan. 1 to Sept. 30. in 1887 (9 mos.) gross earnings were $3,004,804, against $2,312,300 in 1886; net, $1,210,297, against $919,983 ;
surplus (including income from investments, etc.) over interest, $380,676, against $69,346.
The annual report for 1886 was published in the Chronicle, V. 44,
pp. 493, 496. The earnings and expenses for four years were:
1883.
503

1884.
503

Earnings—
Passenger
Freight
Mail, express, Ac..

$
485,805
2,181,711
145,260

$

2,025,087

Total gross eara’s.
Operating expenses.
Net

,

-

1886.
533
$
486,231

1885.
510
$

164,875

458,445
2,138,120
174,555

2,580,827
174,998

2,812,776
1,509,574

2,711,154
1,516.858

2,771,120
1,649,291

3,252,056
1,960,910

1,303,202

1,194,296

1,121,829

1,291,146

53*7

55*9

600

521,192

gg.
g.
g.

5
6
6 g.

(?)

138,000
200,000

6
7

*

Payable

Q.—J.

5

1,000,000

When

Where Payable, and by
Whom.

pal,When Due*

Stocks—Last *
Dividend.

Nov. 1, 1887

J. A D. Bost.,Conc’d or Leban’n
J. A J. Baltimore & Philadel.

41ug.
'

600,000

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

A
A
A
A

O.
J.
O.

J.

A J.

A O.
A J

July 15,1887
Iireaeemahle.
Baltimore A Philadel.
April 1, 1900
Baltimore,Treas. Office, July 1, 1900
do
July 1, 1900
London A Baltimore.
July 1, 1904
Baltimore, Treas. Office, July 1, 1904
do
April 1, 1925

Annapolis.

Baltimore,
do
do

A J.

A J.
A N. N.Y., London A Balt’re.
New York Office.
A J.
A J. J. City, Hudson Co. B’k.
do
A S.
do

Jan.
I Jan.
Jan.

37,786,199 lliiocert
49,00u,000
2,107,500
2,956,000
46,513,000

"6

m.’an.

6

M. A S.
J. A J.
A. A O.

6g.
6
6
6
6
6
0
6
6
5
6

20,000,000
(?)
4,640,821

963,000
688,000

•

1,650,000
400,000

600,000
516,000

3,000,000
2,000,000

gross,
765.

changed Feb. 1, 1883.

3
4
6
6
6
6
6
6

900,000

lien.

Norfolk. Name

Rate per
Cent.

2,785,000
1,000,000

•

Niagara Bridge Sc Canandaigua.—Owns from Canandaigua
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased
Norfolk Southern.—Formerly the Elizabeth City &

Amount

Outstanding

....

79

Northwestern Ohio—Stock

Size,

1865
500 Ac.
1868
1,000
1868
1,000
1874-5
1,000
1876-7
3,000
1885
1,000
1876
1,000
1876
1,000
500 Ae.
500 Ac.
100
100 Ac.
1878
100 Ac.
1869
100
100
500 Ac.
1879
1879
1,000
1881 1,000Ac
1883 l,000Ac
1887
1,000
500 Ac.
1883
1886
1,000
1886
1,000
1886
1,000
1887
1,000
1887
1,000
1887
1,000
1883
1,000

138

fund)

Miles operated....

[Vol. XLV.

•

*

*

g.

g.

.

g.
g.

g.
g.
g.

g.
"

•

.

J.
J.
M.
J.
M.
M.
J.
J.
*

*

“

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

(?)
July. 1888
March, 1889
Jan. 15, 1883
Dec. 1,1933

N.

Y., Mills Building,
do

do

May 1, 1919
Sept. 1, 1919
Jan. 1, 1921
Deo. 1,1933
1937
1888 A 1907

•

A
A
A
A
A
A
A
A

1, 1926
1, 1926
1, 1895
May 1, 1900

Jan.

1, 1936
May 1, 1936
July 1, 1936
March 1,1937
May 1, 1937
June 1, 1937
N.Y., Winslow, L. A Co. Jan. 1, 1933

"

earnings were $569,470; net, $164,916; in 1884-5
$570,058: not, $162,819; in 1885-86, gross, $558,633; net, $121,(V. 43, p. 717; V. 45, p. 401,)

In 1883-84 gross

Northern

(California).—Owns from West Oakland to Martinez, 31

miles; Benicia to Suisun, 16 miles; Woodland to Tehama, 101
leased, San Pablo & Tulare RR.-rMartinez to Tracy City, 47

miles;

miles;
total operated, 195 miles. Leased to the Central Pacific till Jan. 1,
1907, at a rental of $40,000 per month and guar, of principal and in¬
terest of bonds for Northern; and San Pablo & T. leased till 1908 for
$13,800 per month and guar, of princ. and int. of bonds. Moderate
dividends have been paid. The Northern stock is $6,190,500, and San
P. AT. stock $1,861,000.
Gross earnings in 1886 were $2,762,750;
net, $1,699,059.
W. V. Huntington, President, San Francisco.
Nortkern9 New Hampshire.—Owns from Concord, N. H., to Wes
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
miles; total, 83 miles. Operated by Boston & Maine under an agree¬
ment for one year from Nov. 1, 1887.
In 1886-7, net income from

was $210,275; dividends of 6 per cent,
The only liabilities are a guaranty of $500,000 Concord &
Claremoct Railroad bonds, of which the Northern RR. owns $200,500.
-(V. 43, p. 184; V. 44, p. 370, 544, 712; V. 45, p. 26, 612, 673.)

rental and interest account

$179,838.

Northern Central.—Owns from Baltimore, Md., to Sunbury,Pa.f
139 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokiii

Valley & Pcttsville RR., 28 miles; Elmira A Williamsport

Railroad, 78

22 miles; Elmira Jefferson
Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie A

miles; operated at cost—Chemung Railroad,

A
Western used 7 miles; total operated, 323 miles. This was a consolida¬
tion or several roads in Deo., 1854. The terms of the several leases will
be found under tbe names of the leased roads. In February, 1882, pur¬
chased at par the stock of Union Railroad in Baltimore,

$600,000,

practically making that road a part of the Northern Central property,
subject to its mortgages. The consolidated general mortgage (gold) oi
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
$2,366,000 are sterling or dollar, interest payable In London or Balti¬
more, and the balance are dollar bonds, interest in Baltimore.
Ten per cent in stock, in addition to tne regular dividend, was paid to
stockholders July 15, 1887.
From Jan. 1 to Sept.30 in 1887 (9 mos.) gross earnings were $4,679,189, against $4,006,834 in 1886; net, $1,725,105, against $1,379,654.
The business of the company depends to a considerable extent on
The fiscal year ends December 31, and the report for
coal traffic.
1886 was in the Chronicle, V. 44, p. 273.
Income account for four years was as follows:
INCOME ACCOUNT.

earnings

P.o. of op. ex. to earn

6029

INCOME ACCOUNT.

1884.

1883.

$
Net income

1,303,202

$
1,194,296

Disbursements—

$

$

Inter, on bonds, Ac..
Dividends
Miscellaneous

810,792
525,000

953,436

1885.
$

1886.
$

1,121,829

1,325,449
$

$

1,139,991

1,184,547

55,699

9,239

1,335,792
953,436
1,195,690
1,193,786
def.32,590 sur.240,860 def. 73,861 sur. 131,663
-(V. 43, p. 23, 132, 274, 399, 516, 635, 672, 718 ; V. 44, p. 22, 149, 212,
309,335,401, 434, 458, 482,493, 496,586, 654,751; V. 45, p. 113,

Total dlsbursem’ts.
Balance for year

178, 541, 614.)
North Carolina.—Owns from Goldsboro to Charlotte, N. C., 223 m.
The property was leased Sept. 11, 1871, to the Richmond A
Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
per cent are paid on the stock, of which the State of North Carolina

$3,000,000, and the dividends

Danville
holds
thus received by the State are applied to

her bonds issued to the North Carolina RR. Rental, Ac., in
$273,729; expenses, $24,322; balance, $249,407. Rental, etc.,

Receipts—
Gross

earnings

1884.

$
6,088,130

$

2,256,525

Net earnings
Other receipts

246,843

Total Income
Disbursements—

Rentals l’s’d lines, Ac*
Interest on debt t
Dividends (8 per ct,).
Miscellaneous

2,503,368
$
557,313
881,180
520,000
41,130

5,474,617
3,931,949

263,829
2,317,311
$
461,761

254.070

277,348

2,489,079
$

2,209,297

935,014

520,000

931,272
520,000

46,511

53,690

*

Northern of New

$

5,490,923
2,235,309

1,963,286
1,999,623
354,025
Balance, surplus...
503,745
Includes rent of roads and interest on equip,

-(V. 44 p. 83, 149, 273, 276, 401,

1886.
$

1885.

5,521,876
2,053,482

Tot. disbursements.

$

446.997

442,203

903,041

520,000
44,775

1,914,813
1,947,165
294,484
542,214
t Includes car trusts.

782.)

Jersey.—Owns from Bergen, N. J.,

to Spar-

kill, N. Y 21 miles; leased Sparkill to Nyack, 5 miles; total oper¬
ated, 26 miles. This road was opened October 1, 1859. By contraot
of April, 1869, it is operated by New York Lake Erie A Western at 35 per
,

cent of its gross

earnings.

It is understood the contract is

terminable

by either party on notice. Dividends are paid as earned on the rental.
Gross receipts in 1885-6 $322,216; net, after payment of charges, sink¬

1885-86, ing fund

in ’86-7,

1883.

and dividends, $262. Gross in 1885, $317,458 ; surplus over

(V 44, p. 118.)
Northern Pacific.—(See Map.)—Line of Road—On June 30. 1887,
the mileage was made up as follows : Main line—Ashland, Wis., to Wal*
lula Junction, Oregon, 1,739 miles; Duluth to Northern Pacific Junction,
24 miles; Portland to Tacoma, 143 miles; South Prairie branch, 10
miles; Pasco to east portal of tunnel, 174 miles; Tacoma to west
portal of tunnel, 78 miles; Switchback o^er Cascade Mountains, 7
miles: Payallup Junction'to Stuck Junction, 7 miles; Duluth to Supe¬
North Pennsylvania.—Owns from Philadelphia, Pa., to Bethlt
hem, Pa., 56 miles; branches—Jenkiut’n to Dela. River, 20 miles; Lans- rior, 7 miles; Spokane Falls A Idaho RR, 14 miles; owned, 2,202
dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total
miles. Leased and controlled—Braiuerd, to St. Paul aud branches, 14/
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are miles ; St. Paul to Minneapolis and branches 16 miles; Little Falls A Da¬
operated under contract. In May, 1879, was leased to Phila. A Reading kota RR., 88 miles; Nor. Pac. Fergus A Black Hills RR., 117 miles; Fargo
A Southwestern RR., 87 miles; Sau. Coop. A Turtle Mount. RR., 37 miles;
at 6”®7 p. c. on stock till 1883, and 8 per cent thereafter.
103 miles; Rooky Mount RR. of Montana,
Northeastern (S. C.)—Owns from Charleston. S. C., to Florence, Jamestown A Northern RR.,
52 miles; Helena A Jefferson Co. RR., 20 miles; James River Valley Ka,
S. C., 102 miles. Leased jointly, Lane. S. C., t« Sumter. S. C.. 38 mile*.
64 miles; Spokane A Palouse RR., 44 miles; Helena A Red Mountain
Total operated, 140 miles. This company has earned the interest on it*
I RR., 16 miles; Duluth A Manitoba RR., 110 miles; total leased ana
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
controlled June 30,1887, 901 miles; total owned, leased and controliea
was authorized, of which $1,142,000 to be held to retire debts of prior
$274,849; expenses, $24,660; balance, $250,189; div’s paid, $238,698.
North Pacific Coast.—Owns from Saucelito to Moscow Mills, Cal.,
branch to San Rafael, 2 miles; leased, San Ratael to San
73 miles
Quentin, 4 miles; and Duncan’s Mills to Ingram, 7 miles; total oper¬
ated, 86 miles. Stock, $2,500,000. Earnings in 1885. $289.557; net,
$54,998.




interest, dividends, Ae.. $12,303.




®

<5 ¥

-aS-'©?

tfk

CO)

^41 ww

K

1

Novembr,
187.

J

RAILOD
STOCK.S
AND

BONDS,

Subscribers will confer a great

Por explanation

first page

of tables.

Norwich <& Worcester—Stock

Bonds, coupon
Oadensburg dt Lake

Champlain—Stock, common

.

Sinking fund bonds
Mortgage Donds (redeemable July, 1890)
Consolidated mortgage (for $3,500,000)
Income bonds, not cumulative
general mortgage (for $16,000,000)
1st consolidated mort. ($3,445,000 are s. f.)
Consolidated mortgage, sterling, s. f
1st

„

sink. fund, mort

Spring. Div. (Sp.&Hl. S.E.) IstM. (for $3,000,000)
$12,000 per mile..

Ohio d Northwestern—lot mort.,
2d mort., $7,000 per mile

Old Oolony—Stock
Bonds (not mortgage) coupon
do
do
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds for

do
do
do

do
do
do
do

Date
of

Road.

Bonds

66
66
130

1877

118
118

1870
1877
1880
1880

624
393
393
393
222
103

p. m.)
-

and registered

209
132
132
70
476

$100
1,000
100

1,000
1,000
500 <fcc.
100 &c.
100
100

....

....

....

....

..

43
58
120

3.103 miles.
Thompson Junction, Minn., to Duluth, is
with the St. Paul & Duluth.
Organization.—This company was chartered by act of

2,1864, to build from Lake Superior to Puget

Outstanding

600,000

2,529,650
999,750

Payable

4
6
2
8
6
6
3 & 6

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

4,030.000

£200

112,000

1871
1874
1886

1,000

3,715,000
2,009,000

1886
1886
1887
1881
1881

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

1886

1,000

3,216,000
6,501,000

1,000

1,000
1,000

When

Cent.

20,063,670

1,000

100

Rate per

$2,604,400
400,000
3,077,000
380,000

1882
1868
1868

950,(00
512,000

2,000,000
1,030,000
2,100,000
2,100,000
1,050.000
11,364,600

1,692,000
500,000
1,100,000

2,000,000
200.000

56,000
498,000
750,000
491,500
400,000
1.912.000

3 *fl
5
7
6 g.
7
7
6
5
5 g.
5 g.
6
6
5 g.
7
6
6
6

4*2
5

4*2
4
7
7
5

&
&
&
&
&
&
&

Bonds—Princi¬

Congress July

Sound and Portland, Or.

in

River-in 1873. Thecompauy defaulted Jan.,
foreclosed August 12, 1875, and reorganized by
the bondholders’ committee Sept. 29, 1875. New preferred stock was
Issued at the rate of $1,400 for each $1,000 bond and overdue interest.
The company leases a number of branch roads named below, and

marck, on the Missouri
1874, and the road was

fuarantees a rental sufiicient to pay their mortgage
In Oct.,oi
the interest.
Union Pacific

See V. 45, p. 539.
8 per cent

Stocks and Bonds.—The preferred stock has a preference for
In each year if earned, but is not cumulative.
common
takes 8 per cent, and after that both share alike.
net income is subject to expenditures for new equipment.

stock then
The
The pref. stock claim on
Pref. stock is
received in payment for company’s lands east.of Missouri River at par,
and the proceeds of the lands sold go to the retirement of preferred stock.
Of the stock $6,233,00.> pref. and $14,075,100 of com. in Oct.,
1887,) was held by the “Ore. & Trans-Con. Co.” (See V. 45, p. 539 )
»
In Jan., 1883, a dividend in certificates of lDio per cent, amounting
to $4,t>67,490, was paid on the pref. stock, these certificates falling due
Jan., 1888; but in June. 1887, the company offered to fund these into a
5-20 6 per cent debenture bond, due 1892-1907.
Prices of preferred stock since’79 have been: In '80, 3938®6712: in
»81, 641b'®881s; in ’82, 66^3)10038; in ’83, 49M90% in ’84, 37kc§>5758;
in’85,361a©6538; in’t6, SSJgaeete; in ’87 to Nov. 18, lntl, 413s£6312.
Common stock: In’80, 203)36; in ’81, 323*351; in ’82, 28%@5438; in
’83
2318@5318; in 84. 14327; in ’85, 15@3U4; in ’86, 2233138; in

Where Payable,
Whom.

M.
J.
J.
J.

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

and taxes.

Net earnings
Per ct. of oper. exp. to earns

..

Mar.
June
Jan.
Jan.

1, 1876
1, 1932
1, 1898
1, 1898

April, 1911
Nov. 1, 1905

July 1, 1936
Cincinnati, 0.
April 1, 1926
N. Y. Central Trust Co. June 1, 1936
do
do
April 1, 1937
N.Y., Corbin Bank’g Co. June 1, 1921
do
June 1, 1921
New York.
July 1, 1926
July 1, 1887
Boston, Office.
March 1,1894
do
do
do
do
do
do
do
do
do
do
Boston. N. E. Trust Co.

June 1.1895

Sept. 1, 1896
Aug. 1. 1897
Dec. 1, 1897

April 1, 1891
April 1, 1904
July 1, 1904
1889 & ’90

July 1, 1894
Jan.

1,1910

1885-86.

1886-87.

$

6,196,301

6,156,264

$
7,173,020

5,037,848
55T6.

5,574,263

5,616,427

$
expenses

Dividend.

-

N. Y., Union Trust Co.
do
do
do
do
London.
N. Y. Union Trust Co.
do
do
N. Y., Merca’le Trust Co.

1884-85.

Operating

pal,When Due.
and by Stocks—Last

J. Boston, 2d National Bk. July 10, 1887
S. Boston, N. E. Trust Co. March 1, 1897
J.
Boston, Office.
July 10,1876
do
S.
Mar., 1890
do
J.
1897
do
O.
April 1,1920
do
O.
April, 1920

owned jointly

The land grant was 20 sections per mile in States and 40 sections
Territories. The road was opened 450 miles west from Duluth—to Bis¬

887, this company agreed to a lease jointly with
the Oregon Railway & Navigation Co.’s property.

Amount

1874
1,000
1875
1,000
1876
1,000
1877
1,000
1882
1,000
1886
1,000
1884
1,000
1884
1,000
’69-’70 500 &c.
1874
1,000
1.000
1880

....

do

Value.

....

....

do
do
do
do

Framingham & Lowell bonds

....

or

Par

....

....

Ohio River—1st mort., gold ($!2.c00 per mile—c*
General mort., gold (for $3,000,000)
c'
Ohio Southern—1st mort. ($15,000 per mile)
2d mort., income ($15,000 per mile)
Ohi7 Talley. —1 st mortg., guld ($15,000

Size,

Miles
of

616

Ohio dk Mississippi—Stock, common
Preferred stock (7 p. c. yearly, cumulative)

cons.

discovered In these Tables.

INTEREST OR DIVIDENDS.

of column headings, <fcc., see notes

on

[Vol, XLV.

favor by giving Immediate notice of any error

DESCRIPTION.

2d

SUPPLEMENT,

INVESTOKS’

84

560

52-48.

INCOME ACCOUNT.

1884-85.
Net

earnings
Adjustm’t of acc’ts & int. bal..

Dividends on investments
General interest account
Total
Disbursements—
Interest on funded debt
Rentals
Guarantee to branch roads
Contributions to sinking fund..
Miscellaneous

1886-87

$

$

5,037,848
24,553

5,574,263

147,359
21,310

19,938
243,319
52,578

5,616,427
12,938
374,549
86,879

5,231,070

5,890,098

6,090,793

4,123,949

4,339,091

4,456,536

670,748
673,650
55,633
39,774

752,757

581,144
352,15 4

50,376

27,341

5,139,111.

Total

1885-86.

$

5,778,899

696,650
112,698
6,445

6,025,056

Balance, surplus
91,959
111,199
65,707
—(V. 44, p. 60, 90, 149, 162,185,212, 309, 434, 540, 551, 701, 713,
752, 782, 808 ; V. 45, p. 26. 55, 166, 192, 203. 211, 264, 272, 273, 341,
368, 369, 370, 373, 4ul, 437, 438, 472, 509, 539, 572, 614, 64 >.)
Northern Pacific Terminal Co,—This company owns terminal
facilities on the Willamette River, Oregon, at Portland, East Portland
and Albina. They are leased for fifty years, jointly and severally, to
the Northern Pacific RR.. the Oregon Railway & Navigation Co. and the
♦87 to Nov. 1 8, in cl , 20 3345g.
The consol, first mortgage bonds are a first lien on the main line; and Oregon & California RR., with a guaranteed rental sufficient to pay
on all the lands of the company except those subject to the two divisional
interest, sinking-fund and taxes. The sinking fund begins in 1893 and
mortgages and those lands east of the Missouri River wliich are subject to is to be sufiicient to retire the bonds by maturity, which bonds may be
drawn at 110 and interest. The stock of $3,000,000 is owned bv said
the preferred stock. The issue of bonds is limited to $25,000 per mile
The proceeds of land sales can be applied to the payment of interest on three companies (40 per cent by. Ore. Railway & Navigation Co., 40 per
bonds, instead of principal, if the earnings of the road are insufficient. cent by Northern Pacific and 20 per cent by Oregon & California RR.),
Central Trust Co. of N. Y. is trustee. The bonds are received in pay¬ and held by Central Trust Co. of New York, to be delivered after pay¬
ment for lands at 110 and interest, and proceeds of land sold must be ments to the sinking fimd which is to cancel the bonds.
applied to redemption of these bonds at a price not exceeding 110 and
Northwestern Ohio,—Owns from Toledo Junction to Toledo, 0.,
interest. Sinking fund of one per cent per annum of the total amo -nt 80 miles, and leases 7 miles, from Mansfield to Toledo Junction. This
of bonds issued began in 1886. and the bonds may be drawn at 110, was a consolidation of the Toledo Tiffin & Eastern, the Mansfield ColdAfter 1888 a similar sinking fund begins for the 2d mortgage bonds. water & Lake Michigan and the Toledo & Woodville roads. Leased to
The 3d mortgage for $12,090,000 was authorized Nov., 1887. See V.
Pennsylvania Company at cost of operating. In 1886 gross earnings
45, p. 614. The total issue of the Missouri Division (Bismarck on Mo. $295,942; net, $72,469. In 1885 gross earnings, $269,510; net, $75,067.
Riv. to Yellowstone Riv. 205 miles) and Pend d’Oreille Division (June
Norwich Sc Worcester,—Owns from Norwich, Conn., to Wor¬
tion of Snake and Columbia rivers to Lake Pend d’Oreille 225 miles)
bonds was $6,480,300, against which are reserved a like amount of cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
the Northern Pacific first mortgage bonds; the proceeds of land sales total, 66 miles. Operated under temporary lease by N. Y. Si New Eng¬
land Railroad. In February, 1885, it was voted to reduce the rontal
ate applied to redemption of these divisional bonds ar par.
to 8 per cent. In the fiscal year ending Sept. 30. 1886, the gross receipts
The Janies River Valley bonds are on the road from Jamestown, Dak.,
were $748,659; net, $274,377; payments for rentals. $40,475; interest
to La Moure, 49 miles; it is leased to Northern Pacific for 999 years, and
the bonds are guaranteed. The bonds are redeemable at 105 after 1896. $24,157; dividends, $207,824; surplus, $21,921. (V. 43, p. 607.)
The Spokane & Palouse RR. extends from Marshall on the main line to
Ogdcusburg <fc LaKc Champlain,—Owns from Rouse’s Point,
Belmont, 43 miles. It is leased to the N. P. for 999 years, the N. P. pay¬ N. Y., to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles.
ing the interest and sinking fund requirements as rental The bonds are On June 1, 1886, a perpetual lease of this road was made to the Central
Vermont RR. Co., the lessee to pay interest on the bonds.
issued at $16,000 per mile, and aie redeemable at 105 after 1896.
Gross earnings 1885-6, $562,772; net. $223,415; surp. over int. charge,
The Duluth & Manitoba road, Winnipeg Junction, Minn., to E. Grand
Forks, 110 miles, is leased, with guaranteed rental to pay interest, and $12,362. In 1886-7, gross earnings $683,213; net, $229,200. (V. 43, p.
sinking fund beginning June 1. 1897, sufiicient to redeem thepiin- 22, 580. 719; V. 44, p. 212, 714, 808; V. 45, p. 272, 561.)
Ohio Sc Mississippi.—(Sec Map of Baltimore dt Ohio.)— Owns from
cipal by maturity; bonds drawn at 105. Trustees of mortgage, Farmers’
L an & Tnnst Co.
(See abstractof mortgage, Chronicle, V. 45, p. 273.) Cincinnati, Ohio, to East St, Louis, Ill.. 338 miles; Louisville branch,
Helena & Red Mt, Helena Boulder Valley & Butte aud Drummond & North Vernon to Jeffersonville, Ind., 53 miles; total Ohio & Miss, line,
Philipsburg 1st mort. bonds are guaranteed by Nor. Pacific and redeem¬ 391 miles; the Springfield Division, Beardstown to Sliawneetown, HI.,
able, the first after March, 1897. the second after May, 1897, aud the 225 miles; total operated, 616 miles. The Eastern and Western divis¬
ions were sold in foreclosure and the Ohio & Mississippi Co. formed by
third after Juno 1, 1897, by sinking fund drawings at 105.
Other roads leased .and guaranteed sufiicient earnings to pay interest, consolidation Nov. 21, 1667. The terms of preference in the preferred
.stock certificates read as follows :
are named under Oregon Trans Continental.
The preferred stock is to he and remain a first claim upon the pro¬
Lands.—The land grant of the company was 12,800 acres por mile in
States and 25,600 acres per mile in territories, and the lands earned by perty of the corporation, af;er its indebtedness, and the holder thereof
construetion to June 30, 1887, were estimated to be about 46,758,400 shall be entitled to receive fijoin the net earnings of the company 7 per
acres, of
which about 40,618,1)21 remained unsold.
The lands cent per annum, payable semi-annually, and to have such interest paid
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre¬ in full for each and every year before any payment of dividend upon
*
’
ferred stock, and that stock is received in payment therefor. The the common stoci*; and whenever the net earnings”
shall he more than sufficient to psy both s.tid interest of 7 per cent on
general mortgage bonds cover all the other lands, the divisional mort¬
gages having prior liens on their respective divisions. For the fiscal the preferred s ock in full, and 7 per cent dividend upon the common
year 1886 7 land sales were 310,355 acres for $1,052,796, including stock for the year in wliicu said net earnings are so applied,” then the
excess shad bejdivided equally, &c.
town lots.
Fiscal year ends June 30; report for 1886-87 in V. 45, p. 671.
From July 1 to Sept. 30, in 1887 (3 mos.), gross earnings were $3,910,,

“

“

37 2. against $3,699,057
Fiseal vear ends June

368, 370.
Miles

oper’d June 30..

Naming s—




1884-85.

1885-S6.

1886 8 7.

2,668
$

2,808

3,053

.

$

$

3,269.703

712,001

2,^97,218
8,189,614
643,695

11,234,119

11,730,527

12,789,447-

3,075,882
7,446,266

Passcnver

Freight
Mail, express, &c—

in 1886; net. $1,841,651, against $1,962,511.
30. Report for 1886-&7 was in V. 45, p. 192,

8,730.547

7fc9,197

Total gross

earnings

1836-87.

18-4-85.

18b 5- 6.

$3,645,467

$3,671,920

$3,988,433

$974,731

$1,074,212

$1,337,953

$1,024,900

$1,026,415

4! ,"00

53,000

$1,024,716

INCOME ACCOUNT.

Net

earnings

Disbursements—
Interest on debt

Sinking fund.
Total
Balance

.

$1,073,900
def.$99,169

57,000
$1,079,415 $1,081,716
def.$5,203sur.$256,237

a
Oft

m

0

■S
o
w

p

fc
<1
vi

w
o

o
Eh
CQ

I—I
*

M

ss




SUPPLEMENT.

INVESTORS’

86
Subscribers will confer a great

favor by giving immediate notice

on

first page

Omaha d St. Louis—1st

Miles
of

headings, Ac., see notes

144
34
451
451

c*

M.,gold.

Orange Belt—1st mort., gold, $5,000 per

mile

Oregon d California—1st M., gold ($20,000 p.m.)
2d mortgage, $10,000 per mile
Oregon Pacific—1st mort., land grant, gold

..

..

706
610
„

n

„

Value.

Convertible bonds

....

Construction M., guar. prin. A int. (for $1,000,000)
Owensboro d Nashville— 1st mortgage, gold
Collateral trust (4o0,000.)
PanamarStoeM
• General mortgage, sterling, (£697,800)

....

123
84
48
48

1,000

1,000

....

1.000
100

1879
1885
1882

1,000
1,000
1,000

1882
1865
1866
1866

1,000

.

„

1,000
1,000
50

1,320,400

1,000

438.000
668.000

m

1,000

2,000,000

5,000

80,000

100
£200

1,000

7,000,000
3,489.000
2,687,000

50

630,000
98,521,300

1,000

19,999,760

15

PennsyIvanxa—Stock
Ger.. M., Ph. to Pitts., coup., J. A J.; reg., A. A O.
State lien (pay’blein annual inst’lm’ts of $460,000)
Consol. M * coup. J. A D., A reg. Q.—M. (8. f. 1 p. c.)

....

....

1870

•

....

Consol, mortgage, gold
Bonds, reg. (P.W. A B. stock deposited as collat’l)
Collateraltrust loan (gold, coup., may be reg.) —
Car Trust certs, (in series payable iiotli yearly) ..
Navy Yard bonds reg. (extended 20 years in ’81)

.

571

....

•

•

1,522,071
27,482,930
4,998,000
8,174.000

•

1.000

1873
1879
1881
1883

1,000
•

•

•

•

1,000
1,000
1,000

....

....

Payable

25,000 p.m.

....

1867
1880

2,322

When

Cent.

107,000

1876
1883
1881
1883
m

Rate per

$2,717,000
320,009
9,020,000
2,610,000
24,000,000
5.547,000
8,593,000
14,931,000
40,000,000
10:063,000
350,000
152,000

100

48

Peoria........

Outstanding

1,000

35

Oswego d Syracuse—Stock, 9 per cent guar
Consol, mortgage (guar. D. L. A W.)

Amount

$1,000

m

497
28 ^

or

Par

1887
1887
1881
1883
1880

706

Oregon Railway d Naviqalion—Stock
Mort. bonds, gold, sink. fd. (drawn at 100)
c
Consol, mortgage, gold, $25,000 per mile
c&r
OregonShorlL — ist,gld.,int.gii.byU.P.($25,000p.m)
Oregond Trans-Continental—St’ck(for $50,000,000)
Trust bonds, gold (1st M. collateral) $20,000p.m..
Oiloego d Rome—1st mortgage guaranteed
Income mortgage bonds

Sinking fund subsidy, gold

Size,

Date
of

Road. Bonds

of tables.

Paris d DecaturSee Terre Haute A
Paterson d Hudson—Stock

of any error discovered in tbese Tables.
INTEREST OR DIVIDENDS.

DESCRIPTION.

For explanation of column

[Vol. XLV.

1875

4
6
6
7
6

g.
g.
g.
g.

1*2
6 g.
5 g.
6

1*2

Dividend.

Whom.

New York.
J
J. N. Y., Farmers’ L.AT.Co.
J. Last paid June, 1884.
Last paid Oct., 1884.
O.
O. New York and London.
New York Office.
*
Q.-J.
do
do
J. A J.
do
do
J. A D.
F. A A. N. Y. Union Trust Co.
A
A
&
A
A. A

J.
J.
J.
A.

Q.-J.

6 g.
7
7
7

M. A N. N.Y.,Farmers’L.A T.Co.
M. A N. N.Y.,Farmers’ L.AT.Co.
F. & A. N. Y., Central Trust Co-

4*3

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

7
5
6
6
2
7
6

g.
g
g.
g.

4
3
6
5
6
5
4

412g.

9,900,000
7,790,000

5.4

1,000,000

5

A
A
A
A
A
A
A. A
M. A

A. N.
S.
N.
N.
A.

J.
O.
N.

Bonds—Princi¬

pal,^W^en Due.
Where Payable, and by
Stocks—Last

Y.,Del\,L.
do

A W. RR.

Jan. 1, 1937
Jan. 1, 1907

July 1, 1921
April 1, 1933
Oct. 1, 1900
Oct. 1, 1887
July 1, 1909
June 1, 1925
Feb. 1, 1922
Oct. 15, 1883

May 1, 1922
May, 1915
Aug., 1891
2866

Aug., 1887
1907

do

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

May, 1923
Nov. 1, 1931
Aug. 1, 1883
July 1, 1885
’88 to’89 A’97
Nov. 1, 1910

New York.
July 2, 1887
Nov. 30, 1887
Philadelphia, Office.
1910
Q.-J. Philadelphia A London.
A. A O.
Annually.
Philadelphia, Office.
Q.—M. Philadelphia A London. June 15,1905

J. A J.
M. A N.

-

J.
J.
J.

A D.
A J.
A D.

Q’rt’rly
J.

do
do
do

do
do
do

Philadelpliia.

A J. Phil.,Pa., Co., for ins. Ac.

Dec. 1, 1919

July 1, 1921
June 1, 1913
1891-93
Jan. 1, 190L

Oregon Sc California.—From Portland, Or., to Ashland, 341
for $16,000,000 was authorized under niles;
Junction to Lebanon, 12 miles; West Side Division, Port¬
by which $12,784,000 was reserved land to Albany
Corvallis, 97 miles. Total finished, 451 miles; to be completed
to exchange for old bonds as they mature;
used
$2,216,000
in to a junction with Central Pacific at the California State line. The
paying overdue coupons and all other claims ; and $999,695 expended original Oregon & California was in default after 1873 and reorganized.
for new equipment and terminal facilities.
The land grant is about 4,000,000 acres.
From July 1 to Sept. 30, 1887 (3 mos.) gross earnings were $1,140,657,
In January, 1887, a modified plan of agreement for reorganization
against $1,106,792 in 1886; net, $452,798, agst $402,059—(V. 43, p. 73, with the Central Pacific was reported, of which the terms were given in
162, 275, 368, 459,487, 514. 548; V 44, p. 60, 185, 309; V. 45, p. 113, the Chronicle, V. 14, p. 118, 370.
539, 671.)
Gross earnings in 1886 were $971,792; net $221,184 ; other receipts,
Ohio Sc Northwestern.—(SeeMap.)— Road from Cincinnati, O., to $16,177; deficit under interest, sinking fund, etc., $368,574.
(V. 44, p.
Portsmouth, O., 103 miles, and branches 20 miles, and 71 miles more 118,370,654.)
under construction. The Cin. A Eastern, sold in foreclosure Jan. 5,1887,
Oregon Pacific.—Road in progress and 83 miles, from Albany to
was purchased i*y this company and changed to standard gauge.—V. 44,
Yaquina, on Yaquina Bay, completed. Land grant, over 900,000 acres,
p. 59.
The authorized 1st mortgage bonds are $2,000,000 at $12,000 and covered by first mortgage. In June. 1887, a syndicate was reported
per mile, and seconds $1,200,000 at $7,0<J0 per mile. Stock authorized, as having taken the balance of first mort. bonds to complete the road.
Stock is $30,000 per mile. T. E. Hogg, President. Corva'lis, Oregon.
$4,000,000; issued, $2,000,000. (V. 44, p. 421; V. 45, 673.)
Ohio River.—(Sec Map.)— Road extends from Wheeling, West Va., N. Y. Office, 45 William Street. (V. 44, p. 752 ; V. 45, p. 543.)
to Point Pleasant, West Vu., 169 miles, and in progress to Huntington,
Oregon Railway Sc Navigation.—Owns East Portland, Ore¬
West Va., 40 miles. The stock outstanding is $3,290,700. The out¬ gon to Wallula, W. T„ 211 miles; Walla Walla to Riparia, 56 miles;
standing bonded debt is equal to $16,3u8 per mile, of which $11,834 is Bolles Junction to Dayton, 13 miles; Patalia June, to Pomeroy, 30
let mort. and $4 921 general mort.,tlie annual int. charges being $815 40 miles ; Walla Walla to Milton. 13 miles; Pendleton to Centreville, 17
per mile.
In 1886 earnings on 90 miles were $197,970 gross and miles; Umatilla to Huntington, 217 miles; total owned, 557 miles.
$83,782 net, or $9 31 per mile. The road was completed to Point Pleasant Leases—Palouse Junction to Colfax, 89 miles; Coif jx to Moscow, 23
Jan. 8, 1887, but was not fully opened for business until March 27,1887.
miles; Colfax to Farmington, 27 miles.; Wallula to Walla Walla, 31
A comparative statement furnished by the company of the earnings for miles; Blue Mountain to Miltou, Ore., 7 miles; Cascade Railroad, 6
5 months from April 1 to August 31—for 1886 aifd 1887—is as follows
miles; total operated, Jan. 1, 1887. 746 miles. Ocean line between San
Inc. over ’86.
1887.
1886.
Francisco and Portland, 670.miles; Puget Sound lines, 275 miles;
The new general mortgage
the plan or reorganization,

Miles operated
Gross earnings

Operating expenses....

90

169

$84,620
$84,620

$156,962

51.166
^

87 7-10 pi r cent.
85
per cent.
48
per cent.

75,968

$80,994
$33,454
Net earnings
$33,454
....$63,125
Interest on 1st mortgages
Geo. W. Thompson, President, Parkersburg, W.

142

per

cent.

Gr

Va.

(V. 44, p. 434.)

Southern.—The road will extend from Springfield, Ohio,
to some point on the Ohio River. Length of road completed and in
operation Dec., 1886, Springfield, Ohio, to Wellston, with extensions
and branches, 148 miles.
Stock (par $100), $3,840,000. Gross earn¬
ings in 1886, $514,189; not, $174,987; interest paid, [$128,979.
Gross in 1885, $468,558, net, $173,182; interest on debt, $126,377;
surplus for year, $46,622, Alfred Sully, President.
Ohio

Ohio

Valley.—Projected Evansville. Ind., to Jack-mil, Tenn., 200

completed from Henderson, Ky., to Princeton on the Clies. Ohio &
Southwest rn, 70 m. P. G. Kelsey, President, Henderson, Ky.
Old Colony (Mass.)—Owns from Boston to Provlneetown, Mass.,
120 miles, lines to Kingston, Plymouth, Somerset Junction, New Bed¬
ford, Lowell and Fitchburg, Mass., and to Newport, R. I., 249
miles, and numerous branches 95 miles in all; total owned, 464
m.;

miles; leased—Fall River Railroad, 12 miles; total owned and le ised,
In March, 1883, consolidation with the Boston Clinton
476 miles.
Fitchburg & New Bedford was made.' In Nov., 1887, a lease of Bos¬
ton A Providence road was proposed for 99 years. Report for 1886-87
was in V. 45, p. 612.
Fiscal year ends Sept. 30 :
INCOME ACCOUNT

Receipts—
Gross earnings
Net earnings

1883-84.

1884-85.

1885-86.

$
4,191,872
1,296,503

$
4,251,186
1,281,056

$
4,528,032

68,998
1,365,501

79,334

1,369,390

1886-87.
*

4,865,571
1,332,576

1,302,929

95,215

Pisbursemen Is—
Rentals paid
Interest on debt

$
46,614
556,866

•$

89,931
1,392,860
$

45,594
551,424

32.694

16,131

582,53 4

Dividends

723,989

738.122

761,747

597,897
788,616

Other receipts
Total income....

Rate of dividend...

Improvem’t account

7

38,032

7

25,250

1,427,791
$

7

7

25,144
1,427,791

15,885

1 *36U,690< 1,392,860
1,365,501
-(V. 43,p.546; V. 45, p. 612.)
Omaha Sc St. Louls.-Owns road from Council Bluffs, la

Total disburse’ts.

,

to Pattons

burg, Mo., 143 miles. This company was formed in 1887 as successor to the
Omaha Division of the Sr. Louis K. C. A Nor. (Wabash), sold in foreclosure.
The old mort. bonds took new 4 per cents and pref. and com. stock, as
per V. 44, p. 713.
Pref. 6 per cent stock, non-cumulative, $2,220,500;
com. stock, $2,313,000, deposited in trust for three years.
See ab¬
stract of mortgage. V. 45, p. 213; full statement in V. 44, p. 812.
Office, 49 Wall Street, N. Y. Iu 1886-S7 gross earnings were $794,931;
net $169,451.
(V. 44, p. 713, 808, 809, 812, Vol. 45, p. 213.)
Orange Belt.—(See Map)—From Monroe, on the Jacksonville Tam¬

miles; total or water lines, 1,308 miles.
bonds $6,000,000 are reserved to take up the old mort.
bonds; there is a sinking fund of over $60,000 per year, aud if the
trustees cannot buy bonds at 110 they must draw them at par each year.
The Farmers’ Loan & Trust Co. is the trustee.
In March, 1881, a majority of the stock was sold to the Oregon TransCoutineutal Company, which still held, Oct., 1837, some $11,841,300.
Iu Anril., 1887, a lease for 99 years from Jan. 1, 1887, to The Oregon
Short Line RR., guaranteed by Union Pacific, was made on the basis
of 6 per cent per annum on the O. Ii. & N. Co.’s stock, and in Oct., 1887,
the Northern Pacific joined the U. P. as lessee.
(See terms Ac., V. 45,
p. 539.)
See abstract of lease, V. 45, p. 53u.
From July 1 to Sept. 30, in 1887 (3 mos ) gross earn’gswere $1,310,396,
against $1,437,968 in 1836; net, $606,867, agains" $682,537.
For the year ending June 30. 1886, the income account showed net
surplus of $11,979 over charges and 6 *2 per cent divi lends.
(V. 41, p. 60, 91. 141, 204, 212, 276, 309, 392, 434, 466, 551,621,752;
V. 45, p. 84, 211, 473, 539, 614.)

River lines, 363
Of the consol,

—

Iiine.—Road from Granger on the Union PaciflO
with the railroad of the Oregon
Railway A Navigation Co., at Huntington, Oregon, 541 miles, with Wood
River branch to Ketchum, 70 miles. Total, 6 LO miles. Interest on the
bonds is guaranteed by t'ie Union Pacific. The stock is $11,073,600.
Union Pacific owns a majority of the stock and $2,195,000 bonds. Tliis
company, in April, 1887, leased the Oregon Railway A Nav. Co.’s lines
for 99 years, agreeing to pay the interest on bonds and 6 per cent on
Oregon Short

(156 miles east of Ogden) to a junction

stock; the lease being guaranteed by Union Pacific.
Gross earnings in 1886, $1,912,107; net, $591,686; taxes, Ac., $87,310; balance, $507,376. For 1885 gross earnings were $1,833,190; net,
$557,959. (V. 43, p. 103, 217, 368,516, 635, 774; V. 4 4, p. 149,185.
Oregon Sc Traiis-Coiitinental.—Company organized under
laws of Oregon on June 27, 1881, and received from the “Villard

309.)
the
Pool”
assignment of the stock of the North. Pac. Railroad purchased by it.
The assets in Oct., 1887, included $11,841,300 stock of O. R. A Nav. Co.
$6,233,009 of N. Pac. pref. and $14,075,100 of N. Pac. common. (See
(V. 45, p. 539.) In Dec., 1885, the company arranged a new loan for
$1,050,000, at 5 per cent, for three years, secured by collaterals. The
an

balance of the unfunded debt, amounting to some $3,573,000, was car¬
ried on demand and short loans.
In August 1887, the company sold $2,000,000 (20,000) shares, as

re¬

ported, of O. R. A Nav. s^oek, and negotiated also $3,000,000 of the
bonds of that company which it had carried.
(See V. 45, p. 305.)
Total authorized capital is $50,000,000. The bonds may be redeemed
at 105; they are secured by deposit in trust of first mortg. bonds on
new branch railroads, at $20,000 per mile; also secured by traffic con¬
tracts with the Northern Pacific RR. Co. guaranteeing a minimum net
annual income of $1,400 per mile, being equal to 6 per cent per an¬
num on $20,000 per mile of bonded indebtedness, and a sinking fund
charge of one per cent. The roads thus mortgaged are: The No.

ifrgus

miles, $2,312,000;

fic,
A Black Hills RR. of Minn., 117
Falls A Dakota RR., of Minn., 83 m., $1,757,000; Jamestown A
ern RR. of Dakota, 102 ni., $2,050,000;
Fargo A Southwestern
Dakota, 87 m , $1,748,000; Sanborn Cooperstown A Turtle
RR., 37 m., $730,000; Rocky Mountain RR.. Montana,
in.,

Paci¬
Little

North¬
Mountain
pa & K. W. road, toCed. Hammock, 64 m. -.under contract to be completed
52
$4,034,to Point Pinellas, 150 m. in al>, by Jan., 1888. The bonds are 5-2(Js,
000; Helena A Jefferson County, 20 m., $102,000; total. 503 miles—
and may be redeemed after Jan., 1892. Tuey are guaranteed by the
at $20,000 per mile—$10,063,00 J in bonds. (V. 43, p. 162; V. 44. p. 118 ;
Orange Belt Investment Co., and are issued at $5,<>00 per mile. Bonds V. 45, p. 272, 305, 509, 539, 572.)
offered iu New York by Griswold A Gillette In 1887, whose circular
stated that the road passes through the most fertile lands of The
State of Florida, and the most thrifty orange belt of' the State. Captal stock, $5,000 per mile.
The bonds are guaranteed by the Orange
Belt Investment Company, which owns large mills at Longwood that
are earning over $10,000 a year net.




RR.i<-

Richland, N. Y.. to Oswego, N. Y.,
is leased to the Rome Waterits stock ($275,000 com. ana
$75,000 pref.) and 7 per cent, on guar, bonds, pref. stock being repre*
s sented by conv. bonds.
$62,100 of bonds due 1870 are yet outstanding
„

Oswego Sc Rome.—Owns from

R >ad opened Jan. 1, 1886. It
29 miles.
town A Ogdensburg RR. at 8 per cent on

SBATONCDKS.RAILOD.

1N8ovem7b.r],




88




ENYESTOBS’

SUPPLEMENT.

[Vol. XLV.

RAILROAD STOCKS

November, 1887. J

AND

BONDS

89

Subscribers will confer a great favor by giving immediate notice of any error discovered In these Tables.
DESCRIPTION.

explanation of column headings, &c., see notes
on

first page

of tables.

3,317

Pennsylvania Company—Stock

Reg. bonds, secured by P. Ft.W.& C. special stock
Bonds, gold, secured by pledge and guarantee....

Pennsylvania <& New York—1st rnort., guar
1st mortgage, guaranteed
Pennsylvania Schuylkill Valley—Stock
1st mortgage bouds, registered
Pensacola <G Atlantic—1st m. g, (guar, by L. & N.)..

*

Peoria <£ Bureau Valley—Stock:
Peoria Decatur <£ Evansville—Stock
1st rnort., gold (Pekin to Mattoon)
1st mortgage (Evansv. Div.)
p. D. & E. 2d mortgage, gold
Car Trusts (payable $13,000 per annum

....

105
105
142
1 i2
All.
47
254

....

79
79
27
287
287
40
287

Philadelphia iG Balt. Central—Stock
1st mortgage (for $2,500,000)
Westchester & Pliila., 1st mortgage
Philadelphia (G Erie—Stock, common

Preferred stock, special

SuuburyA E. (extended 20 years in ’77).

2d mortgage

-

1869
1881
1881

-•

iil.000

1,500,000

1,000
100

1,500,000
799,600

1,000

1,125,000

100

385,000
34,000
1,000,700
323,500
275,000
643,000
800,000

....

....

1881
1871

1857
1868

1.470,000
2,088,000
229,000

100
50

....

....

Payable

Whom.

4
6
7
7
5
6
4

J. & D. Philadelphia, Penn. RR.
'F. & A. N. Y., Comp’ys Agency.
F. & A. N. Y., Chic., R. I. A Pac.

i
!

50

2,495.650

1,000

1,000,000
1,100,000
7,975,000
2.400,000
976,000

100 Ac.
50
50

1,000
1,000

Sc Syracuse. -Owns from Oswego, N. Y., to Syracuse,

6 g.
6
5 g.
7
6 g.

J. & J.
M. & 8.
M. & N.
Various

4%g

M. & N.
A. 6c O.

6
6 g.
3
6
7
3
8
5

6

-

N.

interested in the De Lesseps Panama Canal Co. The report for 1886 was
In Chronicle, V. 44, p. 465, showing net income of $645,360, and a
surplus of $118,58 L over charges. (V. 44, p. 212, 465.)

Paterson Sc Hudson.—Owns from Jersey City, N. J., to PaterThe road was opened in 1834, and leased
ion, N. J., 15 miles.
In perpetuity September 9,1852, to the New York & Erie, at a rental of

$43,400 per year, and is operated by the New York Lake Erie & Western
Mpart of its main lino. J. S. Rogers, President. New York City.
Pennsylvania.—[See Map)—Line of Road—The Pennsylvania sys¬
tem embraces about 5,639 miles of railroad, including all east and west
of Pittsburg. At the close of 1886 the mileage operated east of Pitts
burg & Erie, on which earnings as reported were based, was divided as
follows: Pennsylvania Division and branches, 1,568; Philadelphia &
Erie Division, 287; United Railroads of N. J. and branches, 466; total
operated, New York to Pittsburg, with branches, 2,322.
Organization, Leases, Ac.—The charter of the Pennsylvania Rail¬
road was dated April 13, IS46, for a line from Harrisburg to Pittsburg.
The line from Harrisburg to Philadelphia was under other organizations,
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy A
Lancaster is still operated under a lease though forming part of the
main line. Road opened in 1854. The terms of the leases will be found
under the names of the respective leased roads.
The Pennsylvania Company was organized in 1870 as an auxiliary
corporation to control all the lines west of Pittsburg A Erie, and the
Pennsylvania RR. Co. holds all the stock of the Pennsylvania Company.
Stock and Bonds.—The Pennsylvania Railroad stock has been in¬
creased from time to time, eliietly by the sale of stock at par to stock¬
holders, for the purpose of raising capital for new acquisitions or better¬
ments. The dividends paid each year since 1870 have been—in 1871,
1872,1873 and 1874, 10 per cent each year; in 1875 and 1876,8 per
cent eaeli year; in 1877. 4; in 1878, 2;‘in 1879. 4hj; in 1880, 6 and 1
per cent in scrip; in 1881, 8; in 1882,
; in 1883, 8 hj; in 1881,7;
In 1885 and in 1886, 5.
The prices of the stock yearlv in Philadelphia since 1875 have been—
In’76, 45@58>%; in ’77, 24*8® 19; in ’78, 27*35 H ; in ’79, 32% *51% ;
In ’80, 48®674; in ’81,59V«'70ie; in’82. 53V«)65i4: in’83, 5618*61%;
in’84, 4914®61; in ’85, 45%*56%; in ’86, 513s*6014 ; in ’87 to Nov.
18, incl, 53% d> 0.
In March, 1881, the company purchased 217,819 shares of the Pliila
Wilm. A Balt RR., and the 4 per cent bonds secured by P. W. A B. stock
are purchased
yearly at not over nar with the surplus proceeds of Pli
of

subsidiary lines to the
«vc.

par

of interest.
deposit of mortgage

value of $12,500,000.

-The total cost to the Pennsylvania Rail¬

road Co. of the stocks and bonds of other companies
was, up to Dee. 31, 1886, $104,261,013 (par value
371,026, most of which is represented on the other

held in its treasury
of the same $137,side of the balance
sheet by issues of Penn. Railroad stock and bonds and other debit items,
the balance to credit of “ profit and loss” was $15,625,348.
A scheme to buy up the company’s guaranteed securities with 1 per
cent of the not income per year is in operation, and lie entire amount
Paid by the company into tlie Trust up to the end of 188o was $3,828,517.
There had been purchased for the fund securities of the par
value of $5,135,150, which yielded an interest of 6 83 per cent per
annum upon me, purchase pnee.
From Jan. 1 to Sept. 30, 1887 (9 mos.), gross earnings on lines east of
FTtsburg and Erie were $41,053,674, against $36,866,283 in 1886; net.
£14,123,655, against $12,971,832 in 1886. Surplus on lines west of
Pittsburg an<i Erie. $1,035,928 in 1887, against deficit of $92.43.6 in ’86
The report for 1886, was m the Chronicle, V. 44, pp. 307 and 31 i.
T,

with previous

summary of the total business of 1886, compared

years, is shown

Warnings

in the following :

on all lines

both

east and west of

1984.

oross earnings
expenses

fittsburg &

1885.

•

erie.

1886.

$92,994,549 $101,697,981
61,690,901
67,102,714
.Net earnings
$33,415,558
$31,3 )3,648
$34,595,207
ihe income account below embraces all
receipts and expenses of the
venusylyania
Railroad
proper, but not including the roads west of Pitts'Ug <fc Erie operated by the Pennsylvania Company. The account for
111
years 1884, 1885 and 18S6 was as follows:

operating




$97,8 49,875
64,434,317

Juue 1, 1890
June 1. 1900

1, 1935
Aug. 1, 1921
Aug., 1887
Deo.

N.

Q.-F.

Jan. 1, 1920
Sept. 1, 1920
Nov. 1, 1920

do
do
do

Feb.
Feb.

Y., Central Trust Co.
do

do

A D.

(?)

Norristown, Pa.
4o

June 1,

do

April

A J.
! J. & J.
A. & O.
J

.

July 3, 1887
Jan., 1888-’98

Petersburg, Va.
do

July 1, 1920
Oct. 1, 1926

|

3,000,000

1, 1921
1. 1921

191?
Nashua, Treasurer.
April LI, 1887
A. & 0. Boston, N. E. Trust Co. Oct. 1, 1897

J.

5
7

M. A N. Pliila. Company’s Office.
do
do
A. & 0.

7
7

A. & 0.
J. & J.

INCOME ACCOUNT OF

Philadelphia, Pa. RR.
Philadelphia, Pa. RR.
do

PENNSYLVANIA

.

Operations, Finances,

For 1883

July 5, 1907
July 1, 1921

Y,, Central Tr. Co.

1881.
the Delaware Lack. & West. RR. Co.
Net income Penn. RR. Division.$10,185,529
interest on bonds.
Net loss New Jersey Division
593,536
Owensboro Sc Nashville.—Owns from Owensboro, Kv., to Adair*
Balance
$9,591,993
ville, Ky., 84 miles. Controlled in 1879 by the Nashville Chattanooga From
this balance deduct :—
& St. Louis, and now operated by Louis. & Nash. RR., which owns a
Advances to Pennsylvania Co.
majority of the stock. Of the 1st M. bonds $1,000,000 are pledged for the
$........
($1,667,733).
collateral trust bonds.
Gross earnings for 1880-87, $204,263; net,
600,000
to trust fund
Payments
$63,549 ; deficit, under interest and taxes, $1,317. Gross in 1883-6, Consol,
277,460
mortg ige redeemed
$169,376; net, $35,678; deficit under interest and taxes, $15,498. Stock Allegheny
698,320
Val.
RR.—Deficiency
is $1,156,517.
Fred. A Penn. Line RR.
do
15,000
Panama.—Owns from Aspinwall to Panama, 48 miles.
Opened Am. 88. Co.—To meet int. guar.
through Jan.28, 1855. Of the general mortg. bonds $500,000 fall due in Settlement of balances under
five half-yearly payments beginning April, 1887, and balance in Oct,,
trunk liue pool in 1886.
1897.
The $2,687,000 subsidy bonds are secured by a pledge of the For destruction of property at
Bum of $225,000 annual subsidy payable to the U. S. of Colombia by
New Brunswick, N. J.
the company. In June, 1881, most of the stock was sold to parties
$i,»yo,7»u

bonds

Stocks— Laet
Dividend.

Pittsburgh, Co.’s Office.
Phila. Tr. S. D. & I. Co.
J. & J. N. Y., Nat. City Bank.
T. & D. Pliila., B’k N. America.
J. & D.
do
do

N. V., 35 miles. Leased in 1868 to
or 9 per cent per year on stock and

W. & B. dividends and not needed for the payment
The collateral trust loan of 1883 is secured by the

pal,When Due

Q.-J.

4%g.

1,500,000

l,287i000

500 Ac.

1877

Mortgage bonds, class B

Oswego

....

82

Cent.

Where Payable, and by

3,000,000

1,000
....

63

Guaranteed pref. stock, 6 per cent
let mort. bonds (payable $25,000 yearly)
Mortgage bonds, class A

When

e;ioo;ooo

1,000
1,000

1881
1881
1867
1873

20
20
38
38
11

Perkiomen—1st mortgage
Consol, mort., gold, guar. P. <k R., (sink, fund)
Peterborough (N. H.)—Stock
Bonds (not mort.), redeemable after 1882
Petersburg—Stock

100

Rate per

8,400,000

....

5

Peoria <& Pekin Union—1st mortgage, gold, coupon
Second mortgage, gold (issued for incomes)

1st mort.,

1,000
1,000

233

’

c

1883
1881

1880
1880
1886

1 10

Outstanding

$50 $20,000,000
1,000
2,177,000
1,000
13,217,000
1,000
1,500,000
1,000
1,500,000
50
4,970,000

....

Bonds—Princi¬

INTEREST OR DIVIDEND.
Amount

1877
1881
1866
1866

....

....

,

F,r

Date Size, or
Miles
of
of
Par
Road. Bonds Value.

1911
April 1, 189S

Oct.

do

1, 1897

July 1, 1888

RAILROAD COMPANY.

1886

1885

$8,153,685
159,497
$7,994,188
$1,000,639
58,621
324,830
701,576
15,000
90,000

$8,974,97©
179,010

$8,795,954
$067,093
69,895
324,800
698,39®
15,000
90,000

411,972
265,000

6,560.787

$5,803,522
4,738,892

$2,542,150
$6,253,904
4,738,892

(7)

(5)

(5)

Balance to credit of income....
Dividends
Rate of dividend

$8,001,213

Credit of profit and loss
Balance of old accounts, Ao

$1,440,426

Balance
Add profit and loss Jan. 1
Balance profit and loss Dec.

Nov. 1,

1,020.692

$110,734
13.613,184

31.$14,032,918

$^,190,666

$1,064,630
363,355

$701,27

>

14.032.918

$1,514,912
623,756

$S91,lo6
14,734.193

$14,734,193 $15,625,349

245, 352,368.431,516, 635, 774; V. 44, p. 149,
276. 288, 307. 312. 401, 466. 551,621, 681, 691, 809; V. 45, p. 1 3t
113, 143, 272, 437, 500, 572, 614.)
Pennsylvania Company.—The Pennsylvania Company is a cor¬
poration chartered by the Pennsylvania Legislature, April 7, 1870, dis¬
tinct from the Pennsylvania RR., and it operates all the leased lines west
of Pittsburg. Tlie Rtoclc is owned by the Pennsylvania RR.
—V. 43, p. 115. 132,

of Pittsb. Ft

The registered bonds are secured by deposit of $4,000,000
W. A Chic, special stock. Tlie gold bonds of 1921 are secured by a deposit
in trust of the leases of the Pitts. Ft. W. A Chic, and the Cleve. & Pitta,

railroads and

are

also

guaranteed by the Penna. RR. Co.

The trustee#

Edmund Smith and S. M. Felton. The
sinking fund is 1 per cent per annum if the bonds can be bought at par.
Tlie
whole number of miles operated or in any way controlled
by this company is 4,083. The income account of the company showed
net profits over all liabilities, including fixed charges, of $1,867,883 1®
18S2; $872,829 m 1883; deficit in 188 L of $710,220, deficit in 1885 of
$1,094,671; deficit in 1886 of $200,674.
Pennsylvania Sc New York: (Canal and Rail way).—Own*
from IVilkesbarre, Pa., to N. Y. L. E. A W. RR. near New Aork State
Line, 104 miles. Branches to mines, 23 miles. Operated in connection
with the Lehigh Valley Railroad as a northern outlet. Common stock,
$1,061,700, and preferred stock, $4,000,000. Gross earnings in 1885-80.,
$2,268,574; net, $662,383. Gross in 1884-85, $1,827,460; not. $325,040. ; 7 percentdiv. paid on pref. stock in ’85 and 8 in July, ’87.
Pennsylvania Schuylkill Valley.—Owns from Philadelphia to
New Boston, Pa.
101 miles, and Frazer to Pluenixville. 40% miles.
Tliis was formed in 1886 by the consolid ition of several companies, and
is controlled by tlie Pennsylvania RR. Co. The. bonds are owned by the
of the mort. are Wistar Morris,

Pennsylvania RR. and issued in pieces of $100,009, convertible into
There is a sinking fund of l per cent. Gross earnings in
1885, $360,482; operating expenses. $400,585. Gross in 1886, $532,143; net, $11,491. J. N. DuBarry, President.
Pensacola Sc Atlantic.—Pensacola, Fla., to River Junction, Fla.,
160 miles. Road completed Feb., 1883. Operated by Lou. 6c Nash, since
Jan.. 1885, and connects its system with tlie roa ls of Florida and So.Ga.
Stock, $3,000,000. In June, i.887, the company had acquired 1,800,000
of the 4.000,000 acres of land granted by the St a e of Florida. In 1886-7
22 *,358 acres were, sold for $156,562.
In addition to the bonds above
given there are $975,000 6 per cent land grant bouds issued to the
Louis 6c Nash., RR. Earnings for year ending June 30, 1886, $294,616
gross and $33,679 net; interest on bouds, $180,000; other interest,
$38,686; taxes, $19,539; construction, $19,950; deficit, $224,196.
Peoria Sc Bureau Valley.—Owns from Bureau Junction to Peo*
ria, Ill., 47 miles. The road was leased in perpetuity April 14, 1854, te
the Chicago 6c Rock Island Railroad at a rental of $125,000 per annum.
Peoria Decatur
Evansville.—Owns from Pekin to Evansville.
235 miles;
braneh-Stewartsville. I ml., to New Harmony, Ind.. 6
miles; leased, Pekin, Ill., to Peoria, Ill., 10 miles; through Decatur,
3 miles; total, 254 miles.
This road is a consolidation of the
Pekin Lincoln A Decatur RR. (formerly leased to the Wabash) and tlie
Decatur Mattoon A So. and the Gray ville 6c Mat. The road is operated
in harmony with the Evansville A Terre Haute.
In Dec., 1886, stock¬
holders voted to exchange the income bonds lor 5 per cent 2d mortgage
bonds, and the exchange was made in March, 1887. (See fill! statement
of tlie company and balance sheet in V. 44, p. 552.) Annual reporUfpr
1886 in V. 44^ p. 342.
Gross earnings in 1886, $814,744; net, $(#B,981 ; gross in 18^5, $736,984; net. $247,655.
From Jan. 1 to Aug. 31
in 1887 (8 mos.) gross earnings were $557,285, against $501, 488 in
1886; net, $262,34'*, against $235,276. (V. 43, p. 162. 275, 335, 368,
459,187, 635,766; V.44 p. 149, 212, 276, 309, 3 12, 552; V. 45, p. 26,
$1,00() bonds.




INVESTOR’

SUPLEMNT.
[Vol.
xlv.

STOCKS

RAILROAD

November, 1887. J

Subscribers will confer a great favor by giving
DESCRIPTION.

For explanation of
on

iirst page

of tables.

Philadelphia <k Erie.— (Continued.)
General M., g., guar by Pa.RRJ$5,263,000 rg. 5s)
Debenture bonds, reg. (redeemable at any time)..
Phila. QermanVn <6 Chestnut Hill—1st mort., guar
Philadelphia Germantown <6 Norristown—Stock. ...
Philadelphia Newtown t£ New York—Stock
Bonds, guar, by Phila. & Read., coup
Philadelphia dt Reading—Stock, common

•

•

•

•-

7
29
21
21

....

'

^

^

„

_

—

convertible, coupon
Scrip deben. and guar, bonds, currency
do

Scrip general mort. and Perkiomen, 6,
Deferred Income bonds
Deferred income scrip
Conv. adjustment scrip
Car trust certilioates

do
do
p. & R. Coal & I., purchase money mort.
do
debenture loan

50
50
100 Ac.
50
50
£500

1843
1843-9
1,000
500 Ao.
1857
1868
1,000
200 Ac.
1871
1874
1,000
1873
1,000
1876
1,000
500 Ac.
1882
500 Ac.
1883
100 Ac.
1868
100 Ac.
1873
10 Ac.
1877
90 Ac.
1877
50 Ac.
1882

...

sterling..

bonds...
3D

Philadelphia db Trenton—Stock

•

5 A 6 g. Various
F. A A.
M. A N.
4*3
3
Q.-M.

2,231,900
1,200,000

9,364,000
4,905,000
4,403,328
2,441.052
652.200

6,203.900

1,259,100

...

pal,When Due.
Stocks—Last
Dividend.

Philadelphia A London. July, 1, 1920
Philadelphia, Penn.RR. Feb. 1, 1915
Phila., Treasurer of Co.

2*3
3*2

A.'AO.
....

Phila,, 227 So. 4th St.

Philadelphia, Office.

do
do
J. A J.
London.
J. A J.
Philadelphia, Office.
J. A J.
do
do
do
A. A O.
do
do
do
g. or 7 J. A D.
7 A 6 g J. A J.
Last paid July, 1884
6 g. A. A O.
Philadelphia.
J. A D.
Last paid Dec., 1883
7
5 g. M. A N.
Last paid May, 1884
5 g- F. A A.
Last paid Feb., 1884
6
J. A J.
Last paid Jan., 1884
J. A J.
Last paid Jan. 1884
7
6
J. A J.
Last paid Jan., 1884
J. A J. Philadelphia A London.
6
6
Nothing ever paid.
6
Nothing ever paid.
6
J. A J.
Last paid Jan . 1884.
F. A A.
6
Philadelphia, Oil ice.
M. A S.
6
do
do
6 A 7
do
do
Various
M. A 8. Last paid March, 1884.
7

24,686,000

100

500 Ac.

6*

700,000

1,000

....

Bonds—Princl

May 1, 1913
1887

Si pt. 3,

’

39,474,911
638,850
967,200
1,499,500
74,500
2,700,000
18,811,000 6

557,569
1,794,510
24,673,400
894,690
2,110,730
1,400,000
822,000
12,261.000
1,117,000

....

....

1883
1883
1884
1872-4
1872

Rate per When Where Payable, and by
Whom.
Cent.
Payable

$1,000 $13,943,000
1,000
1,470,000
1,000
1,000,000

....

....

Amount

Value. Outstanding

....

1,013
Preferred stock
Mortgage loan, sterling, coupon
ao
dollars, coupon.
do
convertible, coupon
Mortgage loans, coupon
Consol, mort. ($8,162,000 are gold 6s) cp. or reg.
Gen. mort., gold, $ and £. cp.($5,000,000 are 7s).
Improvement mort., gold
Income mortgage, $
Consol. M, of '82, 1st ser., gold (for $80,000,000).
do •
2d series (for $80,000,000)

91

INTEREST OR DIVIDENDS.
or

Par

....

1,013

Debenture loan, coup

Size,

1869
1885
1883

287

BONDS.

immediate notice of any error discovered in these Tables.

Miles Date
of
of
Road. Bonds

column headings, Ac., see notes

AND

....

6
6
6
7

....

....

2*3

Q.-J.

Philadelphia, Office.

Oot. 1, 1897
Jan. 25,1876

July,
July,
July,
July,

Oot,

1876
1910
1910
1910

1, 1893

June, 1911
July 1, 1908
Oct. 1, 1897
Deo. 1, 1896
May 1, 1922
Feb. 1, 1933
July 1, 1893
Jan.

1, 1893

July, 1877-84
July, 1882-85
Irredeemable.
Irredeemable.
Jau.

1, 1888

1892 to 1894
1892
Oct. 10, 1887

1
Peoria 6c Pekin Union.—Owns from Pekin to Peoria, 10 miles
each side of Ill. River; total operated, 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Gross receipts
in 1886. $226,352; net, $48,365; detlcit under interest, rentals and
taxes, $23,977. A. L. Hopkins, President, New York.
on

Perkiomen.—Owns from Perkiomen Junction, Pa., to Emails
Junction, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. A Reading RR., and bonds guaranteed by the lessees; but
the property was surrendered in May, 1879. Stock subscription, $33,040. A proposed plan of reorganization pi ovules for cancelling present
debt and issuing a new mortgage for $2,250,000.
(8ee V. 45, p. 53.)
Net earnings in 1883-84, $99,2ol; in 1884-85, $121,537; in 18y5-80,

$89,775. Interest on debt, $115,476. (V. 44, p. 335 ; V. 45, p. 13, 473.)
Peterborough.—Owns from Wilton to Greenfield, N. H., 11 miles.
Completed Jan. 1, 1874. and leased by Nashua A Lowell Railroad
for 20 years from 1873 at 6 per cent on cost of the road. Edward
Spalding, President, Nashua, N. H.
Petersburg. —Petersburg, Va., to Weldon, N. C., 63 miles. In May
1877, a receiver was appointed, but steps were taken by second mort¬
gage bondholders to prevent a sale, and reorganization was made with
$323,500 preferred stock and $1,000,700 common stock. $440,000 Class
‘■A” bonds are still in bauds of Central Trust Co., of which $350,000 arc
reserved to retire old 1st mortgage 8s. From Oct. 1, 1886, to Sept.
30, 1887 (11 mos.) gross earnings were $348,345, against $359,665
in 1885-6; net, $118,553, against $161,003.
In 1885-86, gross earn¬
ings, $359,596; net, $160,934-(V. 43, p. 608.)
Philadelphia 6c Baltimore Central.—Philadelphia to West¬
chester, 26 miles; Westchester Junction to Octoraro Md., 46 miles;
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This
was a consolidation, Oct., 1881, of the Philadelphia A Baltimore Cen¬
tral and the Westchester & Philadelphia railroads. Of the new stock
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85.
net earnings, $181,799. In 1885-86, net earnings, $166,129; surplus
over chargee, $20,859.

Philadelphia 6c Erie.—Owns from Sunbury to Erie, 287 miles.
Formerly Sunbury A Erie RR. It was leased to Pennsylvania RR. for

999 years from Jan. 1, 1862, the lessees to pay 30 per cent of gross
eceipt as rental, but modified January 1, 1870, so that actual net

reoeipts

paid as rental. The general mortgage is guaranteed by the
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the
5 per cents A. & O. The unpaid coupons are held bv the lessee for ad¬
vances, and by terms of adjustment in Jan., 1885, made with the Penna.
Railroad Co. the P. & E. issued $1,500,000 debenture bonds at 4*2 per
cent, secured by the overdue coupons held as collateral.
From January 1 to Sept. 30, 1887 ( 9 mos.), gross earnings wore
$2,971,951, against $2,691,762 in 1886; net, $1,196,970, against $1,are

089,510.

*

Last report was in Chronicle, V. 44, p. 273, giving the following :
INCOME

Receipts-

ACCOUNT.

1883.
1884.
$4,108,843 $3,660,146
$1,488,020 $1,454,0x0
9,120
4,892

Gross earnings
Net earnings

Bents

Total income....

Total disbursem’ts

Surplus

$1,492,912
1,277,575
$215,337

1885.

$3,292,253
$1,292,880

8,47 L

$1,467,200 $1,301,351

1886.

$3,708,485
$1,465,953
10.836

1,250,218

1,187,713

$1,476,789
1,339.328

$216,982

$113,638

$137,461

“(V. 44, p. 273.)

Philadelphia Germantown 6c Chestnut Hill.—In Philadel¬

phia frounGermautown June., on Connecting Railway, to Chestnut Hill,
miles. From May 1, 1883, leased for 30 years to the Pennsylvania
BR. Co., which guarantees 4*3 per cent on the bonds. Gross earnings in

1885, $108,162; operating expenses, $116,405. Gross in 1886, $140,773; net, $7,464.
Philadelphia Germantown 6c Norristown.—Philadelphia,
"a., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; PlyMouth Railroad, 9 miles; total, 29 miles.
The property was leased
Nov. 10, 1870, to Philadelphia A Reading Railroad for 999 years at a
fental of $269,623 and $8,000 yearly for organization expenses. Divi¬
dends of 12 per cent per annum are regularly paid.

Philadelphia

Newtown 6c New York.—Owns from Erie Ave.*
Philadelphia, to Newtown, Pa., 21 miles. Capital stock, $1,200,000.
November 10, 1879, the Philadelphia A Reading Railroad purchased
12,012 shares (which gave control of the property), and guaranteed the
bonds; the

burg, and the Jersey Shore Pine Creek A Buffalo and other lines, form
the connecting roads to the N. Y. Cent. A H. at Geneva and Lyons, N. Y.
Organization, Leases, Ac.—The Philadelphia A Reading Company
was chartered April 4, 1833, to build from Philadelphia to Reading, and
on May 13, 1872, the Mount Carbon Railroad was merged and became
part of the main lino. Road opened Philadelphia to Pottsville in Jan.,
1842. The Pliiladelphia A Reading Co. leases a number of roads in
Pennsylvania, including the Catawissa, Chester Valley, Colebrookdale,
East Pennsylvania, Little Schuylkill, Mine Hill. Schuylkill Valley, Phila¬
delphia Germantown A Norristown, Philadelphia A Chester, and some
minor roads; also the North Pennsylvania Railroad and
Delaware
A Bound Brook, forming the line from Philadelphiato New York.
In
May, 1883, the Central of New Jersey was leased, including the leased
lines of that company in Pennsylvania, but after failure to jmytlie
icntal and

a

decision that the lease

Again in June, ’84, receivers were appointed.

Stock and Bonds.—The preferred stock is of small amount, and did
not receive any dividends after 1880. The dividends paid on Phila¬
delphia A Reading stock from 1870 to 1875, inclusive, were 10 per cent
each year; in 1876 2*3 per cent was paid and nothing since.
The range of P. A R. stock yearly m Philadelphia since 1875 has been;
in 1876, 18*2 o>55; in 1877, 10«>2014; in 1878, 1138®193i; in 1879,

1112®3758: in 1880, 6%^36^;iu 1881, 253s^37i4: in 1882, 23i«»
335g; in 1883,23*2<z>3012; in 1884, 8*2^30*4; in 1885,
iu 1886
9*2©27; in 1887, to Nov. 18, incl., 1714@)3534.
The bonds in the table above are arranged with the mortgage bonds

placed first, then the plain debentures, income bonds, scrip, Ac. The
of the general mortgage of 1874 hold the bonds of the Coal
A Iron Co., viz., $29,737,965 mort. of 1874 and the Phila. A Read. Co.
also holds the $10,000,000 mort. of tho Coal A Iron Co. dated 1876.
The Deferred Income bonds had a claim for 6 per cent interest only
after 6 per cent has been paid on the stock. The new consol, mortgage
dated in 1882. due in 1922, was issued in adjustment of certain liabili¬
trustees

ties.

In addition to the bonds above given there are real estate mort¬

gages of the P.
for $769,837.

A R. RR. Co. for $2,098,200 and of the Coal A Iron Co.

Operations, Finances, Ac.—The Philadelphia A Reading Co.

capital account in the purchase of new properties, and after paying 10
per cent dividends for some years ceased to pay after Jan., 1876.
In May, 1880, the company suspended payment, ami on May 24
receivers were appointed and" held possession till May, 1883. But in
June, 1884, the company again went into receivers' hands, partly owing
to the heavy charges on Central of N. J., while coal profits also declined.
In Feb., 1886, the Drexel-Morgan syndicate of bankers was formed,
with a proposed capital of $15,000,000, for tho purpose or effecting
reorganization.
(See Chronicle, V. 42, p. 216 and p. 394.) The plan of

organization approved by the “ reconstruction trustees ” representing
bondholders and the company, and by the syndicate, was published at
length in the chronicle of March 27, j 886, on p. 394, Ac., and after
the agreement with Mr. Goweu in Sept., 1886, under which Mr. A. Corbin
became President, the complete plan as modified was published in the
Chronicle of Dec. 18, on p. 747;’ (V. 43. p. 747).
From Dee. 1, 1886, to Sept. 30, 1887, (10 mos.), gross earnings of the
P. A R. R.R. were $17,580,243, against $15,843,116 in 1885-6; net,
$8,973,833, agst $6,407,821 in 1885-6. Including the Coal A Iron Co.,
the net earnings were $9,815,677 in 1886-7, agst $4,651,630 in 1885-6.
With the pioceeds of assessments on stock and bonds and the largely,
increased income in 1887, the trustees paid receivers’ certificates, float
ing debt, and began to pay overdue inteiest. See V. 45, p. 305.
The annual report for the year ending Nov. 30, 1886, was in V. 44, p.
89, and gave the income account as below, including the Central
of Now Jersey leased lines. From this report it appears that the floating
debt and “current liabilities ’’ of the P. A R. and the Coal A Iron cost
Nov. 30, 1886, were $29,779,273, against $25,070,177 the previous
year.au increase of $4,7< 9,096. The details of the P. A R. RR. Co.’s
unfunded debt wore as follows:

Nov. 30, ’86.

operated in

1885-86 earnings were

connection with the P. A R. system
deficit, $8,353.
expenses, $82,282;
$80,450; expenses, $86,629; deficit, $6,179.

of Road—Owns main line.
Philadelphia to Mount Carbon, Pa., 98 miles; branches owned, 228
nines; leased lines, 579 miles; roads controlled, 107 miles: total oper“ted ]n 1887 about
1,013 miles. These leased lines include the No. Penn
and Delaware A Bound Brook
roads, from Philadelphia to Bound
■Brook, N. J., and branch to Trenton. The Shamokin Sunhury A Lewis-




$6,7 24,805
2,835,370
5,342,743
8,219,8 L4
521,407
492,415
1,842,990
3-2,054

Bills payable and loans
Receivers’ certificates
Leased roads aipi canals—rentals

Wages, drawbacks. Ac
Taxes on stock and receipts—..

is

has

been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia A Reading Coal A Iron Co., became a large owner or
coal lands. Bet ween 1870 and 1876 tlieP. A R. increased heavily its

^Philadelphia 6c Reading.—Line

ad

lega 11 v valid, the Jer¬

The P. A R. RR. and the Iron Co. were in the hands of receivers from

May, 1880, to May, 1883.

Unpaid interest and dividends
Connecting loads
Account of current business

in

never

ls87. The fiscal year ends
early in January.
The Philadelphia A Reading Coal A Iron Company is a corporation
formed (Dec. 12, 1871) for the purpose of owning and workiug the ex¬
tensive coal properties of this company. The Phila. A Rcad.RR. Co. owns
all the stock ($8,000,000) of the Coal A Iron Company.

Earnings in 1884-85, $73,928,

r<

was

sey Central Road was given up Jan. 1,
November 30. The annual election is held

The Co 1

A

...

Nov. 30, '85.

$7,103,890
2,747,857
3 364,501
4,(94,427
474,271
454,356

1,400,971
592,350

$26,301,658
$20,83 .-.623
on Nov. 30, 1886, wore

Iron Co.’s fioatimr liabilities

$1,855,363, against $2,809,499 on Nov. 30, 1885.

SUPPLEMENT

INVESTORS’
Subscriber* will confer a

INTEREST OR DIVIDENDS.

1887
1872-4
1875
1880
1886
30
1883
1868
199
1873
199
1864
125
1864
33

• •••

•• •

m

m

Cumberland—1st mort

mort., guar
JWt*. C. dk St.L.—1st M., consol., reg.
Fhst Creek.—1st

2d consol, mortgage
1st mort., Steub. A Ind., extend,
Col. & Newark Division bonds

Holliday’s CoveRR. mortgage

and coup

in 1884, reg

bonds

Chicago—Stock, guar
Special improvement stock, guaranteed
1st mort. (series A to F) i Bonds all coupon, but
2d
do (series G to M) > may be made payable
3d mortgage
> to order.
Kttsburg Junction—1st M., gold
Pittsburg dk Lake Erie— Stock

Pittsburg Ft. Wayne dk

Pittsburg McK. dk Youghiogeny—Consol,
1st mortg., guar
2d inortg

stk., guar

Pittsburg d Western.—1st M.,g.(for
1st mortgage, Pitts. Brad. A Buff

.
•

•

•

•

62
62
70
120
103

$10,000,000). c‘

GROSS AND NET

r 1884-85.

$47,450,848 $44,643,966
34,054,314
32,015,069
$13,396,534 $12,628,897

ttross receipts
Gross expenses

ACCOUNT.

Deduct: For the Coal A Iron Co.:
Fall interest on all obligations other
those held by the Railroad Co

companies

100 Ac.
£200
100 Ac.
100
100
500 Ac.
500 Ac.
500 Ac.

....

than

50

....

50

1,000

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

1885-86.

$46,373,811
34,253,954

$12,119,857
1885-86.

$12,119,857
$62,895
30,653

15,804,595
984,684

$17,226,778

$10,882,827

$4,597,881 $4,762,970
133,245,275,368,399,431,459,516, 547,
22, 01, 89, 90, 185, 212, 244, 276,
544, 551, 586, 701, 714,752,782,
240, 272, 305, 341, 438, 473, 509,

division.
follows:
Philadelphia A
Baltimore Central, 79; Delaware RR., IOC ; Queen Anne & Kent RR..
S6; Delaware A Chesapeake, 55; Cambridge Cc Seaford RR., 27; Del.
Hd. A Va. RR., 98 miles ; total operated, 50b miles., Owns over half the
stock of the Phil. A Balt. Cent.
This road on the main route,

the income account was as

follows:

INCOME ACCOUNT.

1883-4.
$

1882-3.
$

earnings

..

et earnings
ile receipts

Total income

..

Hentals paid

..

Interest on debt
Thxes

Dividends, 8 peret...

.

Miscellaneous

1884-5.

,

Various
A. A O

J.

A J.

J. A J.

Phil’delphia, Co.'s Office July 1, 1887
Oct.

Dec.

1932

Aug. 1, 1900
April 1, 1913
Jan. 1, 1914

do

do
N. Y., Nat

1, 1892

April 1. 1900
June, 1910
Aug. 1, 19 U

Phila., Pa., RR. Office.

City Bank.
Phila., Pa. RR. Office.

Jan. 1,1890
Feb. 1,1893
Oct. 1, 1922

do
do
New York.

July, 1898
Balt., Balt. A Ohio RR.
Pittsb., First Nat. Bank Aug. 1, 1889
London. J.S. Morgan ACo Jan. 1, 1926
Feb. 1, 1925
New York Agency.
N. Y., Winslow, L. A Co. Oct. 4, 1887
Oct. 1, 1887
do
do
do
do
July 1, 1912
July 1, 1912
do
do
do
do
July 1. 1912
New York. 3d Nat’l Bk.
July, 1922
J uly, 1887
N. Y., Chemical Nat. Bk.
July 1, 1928
N. Y., Phila. A Pittsb.
Nov. 1, 1887
July 1, 1932
N.Y., Union Trust Co.
do
do
July 1, 1934

A J.
A J.

J.

A J. N.

4 g.

J. A J.
A. A 0.

6

April, 1917

do
do
do
do
do
do
do
do
New York.
Phila. P. A R. RR. Co.

J.
J.

A. A O.

Y.',Mercantile.Tr. Co. July 1,1916

April 1, 1912
July 1, 1917
April 1, 1911

Philadelphia.
Broad St.

New York, 3

Last

paid Oct., 1884.

local traffic. All classes of freight
products. The
112,038 tone.
also quite large. There was an in¬
The
rate received
compared with 5310 mills for the pre¬
increased, the result was an

1,261,427 in 1885, there being a gain in
local, and a loss iu through travel.”
The statistics of the report fur 1886 were iu V. 44, p. 342.
1383.

1885-6.

4,623,710
3,087,465

4,045,257
2,731,960

4,033,623
2,681,633

4,-52,596
3,130,690

Net earnings
P.c.of op.ex.to

1,536,275

1,313,297

1,351,990

1,621,906

Receipts—

Total income
Disbursements—
Rentals paid
Interest on fund, d’bt
Other interest
Int.on C.AM.Val.bds.
Loss on St. L. V. AT. H.
“
Cin.A Mus. V. RR.
Miscellaneous

Balance

Assets—

RR.,equipment, Ac..

Stocks owned, cost..
Bonds owned, cost ..

1,675,897
109,348
1,785,245

1,988,674

1,911,189

945,548

11,674

200,06 0

47,697
945,518
13,605

.

^

Stock,

1,313,297

1,351,990

$
1,621,906

432,897

4.624

423,531

4,835
378,330

1,946,191

1,741,452

1,735,744

2,059,777

$
830,881
646,990

$
931,518
646,990
133,104

$
856,315
714,490
231,216

$
849.920

646,990

589

105,000

105,000

178,615
52,500

82,534

33,011
42,003

60,917

10,418

27,883

183,850

preferred

14,172

1,725,784

333,993

sur.

Ind. Cent.
AT CLOSE Cl

B VCII FISCAL YEAR.

1883

1884.

1885.

$

$

$

20,798,277

1,085,967

1,085,967

20,318
1,107,502
474,337
317,725
64,639
232,415

2,508,000
5,929,200
12,617,000

1836.
$

20,870,740 20,965,392
1,085,967
1,035,967
23,750
23,750
23,750
16,021
38,17
21,744
951,613
1,036,391
1,119,287
330,697
339,995
292,014
322,045
276,131
258,918
64,639
64,639
64,639
119,300
428,482
396,124

20,605,107

$

Bonds
All other duesA acc’ts
Due Little Miami RR.
Due C. C. A I.C.RR..
Ciu. Street Conn.bds.
Miscellaneous

4.974

8,784

23,903,010

Total assets
LiabilitiesStock, common

1886.

1885.

401,132

GENERAL BALANCE

Materials, fuel, Ac...
Cash ou hand.
Cin/Str. Conn. Ry...
Profit A loss balance

386,631
200,000
47,686

$

Exclusive of Col. Chic. A

1,862,630
146,378

331,338

1834.

$

1,775,903
1,883,662
2,000,033
def.53,842 def. 147,210 < def. 40,159

Total

1,783,816

2,009,008
$
367,650

1883.

1,536,275

Not earnings
Rentals and interest
Net from l’sed roads.
Miscellaneous

1,855,178
133,496

$

65-87

66-43

INCOME ACCOUNT*

5,741,672

$

6753

66-77

eam’s

BetternTtsto l’s’d r’ds
Bills A accts. receiv..

122,373

1886.

1885.

1884.

Total gross earnings.
Op. exp. and taxes..

$

201,485
47,682
913,604
14,543

Various

Dividend.

Whom.

6
6
5 g5

6,004,761

235,329
211,778
48,234
943,604
150,133

A J.
A O.
A O.
A 0.
A D.
A A.
A D.
F. A A.
A. A O.
J. A J.
J. A J.
F. A A.
A. A O.
J. A J.
F. A A.
I. A J.
F. A A.
Q.-J.

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

Q.-J.

1^

5,678,588

$

1,574,501
1,591,542
disbursem’ts.. 1,639,078 1,538,653
434,507
319,647
450,016
146,167
fhlnnrr, surplus
V. 44, p. 185.)
Piedmont Sc Cumberland.—Road extends from Piedmont, West
Total

2,000,000

pal,When Due.
Payable, and by Stocks—Last

Payable

Q.—J.

7
7
7
6 g.
6
6 g-

5,820,323

$

Disbursements—

1\

10,776,800
5,250,000
5,160,000

*

Philadelphia to Baltimore, has been
profitable, paying regular dividends, 'With a considerable surplus. From
1868 dividends of 8 per cent on the stock have been paid each year. In
April, 1831, nearly the whole stock was purchased and is held by Penn.

Receipts—

6,292,000
10,000,000
19,714,286

Where

carried 1,321,432

MorBridge.
Railroad, 4

ross

326,600

When

the larger portion of which was in
show an increase, except ore, live-stock and agricultural
coke traffic shows an increase of about 57 per cent, or
The gain in the volume of coal was
crease in freight earnings of $711,122 42.
average
per ton per mile was 6-io mills as
vious ye tr; and while the average cost was
increased profit on this class of traffic. There were
passengers as compared with

Philadelphia Sc Trentou.-Owns from Kensington, Pa., to
rtsville, Pa., 26 miles and Tioga Branch, 1 mile; leased—Trenton
Gmneeting Railroad, 7 miles, and Frankford A Holmesburg
On Dee. 1, 1871, it was
stiles; total owned and leased, 39 miles.
leased with the United Companies of N, J. to the Penn. RR., at 10 per
cent on stock, and is operated as a part of its New York
Philadelphia Wilmington Sc Baltimore.—Mileage as
Philadelphia Wilmington A Baltimore RR., 122 miles;

For four years

6
7
7
5
7
6
6
7
6
6 g.
5 g•

800,000

-iV. 43, p. 23, 102, 103,131.
635,672, 719, 738, 747; V. 44, p.
389, 344, 401,434, 459. 4P.6, 927,
809; Vr. 15, p. 26, 54, 85, 143, 211,
c 39. 572, 600.)

XR. Co.

5

2.000,000
3,000,000
2,250,000
750,000
1,000,000
3 000,000
(?)

1,000

940,997

..

6
6
5

1,440,000
2,050,000

1,000

1878
1884
1882
1884
1886
1882
1887
1881

4

2,400,000
4,000,000

....

1871
1862
1862
1862
1881

4

120,000

1.000

1868
1859
1876
1885

1884-85.

$12,628,897
Railroad Co.—
Debit balance, profit and loss
$32,430
BUte tax on capital stock
18,893
AH rentals aud full interest due, inclu ling
dividends due on Cent, of N. J. stock
16,184,453
Bel receipts, both companies
From this deduct: For the

Deficit of both

1882

Cent.

....

briefly as follows:

INCOME

Outstanding

Rate per

$50 $11,819,350
1,000,000
1,000
700,000
1,000
800,000
1.000
1,000,000
650,000
1,000
3,500,000
1,000
6,863,000
1,000
2,500,000
1,000
3,000,000
1,000
134,000
1,000

RECEIPTS.

1883-84.

Net earnings
The income account was

414

Amount

....

....

•

•

70
70
65

c*

Fairport—1st m., gold
Charleston— 1st mortgage, gold

Pittsburg Painesmlle dk

m

78
149
10
149
149
468
468
468
468
468

bonds).

gold, coupon

m

•

•

Ffdtsb. Cleve. dk Toledo—1st inortg., gold, int. guar..
fittsb. dk Connellsvillc.—let mortgage
1st mortgage Turtle Creek division
Consol, mort.,guar. B. A O. (s. f. £7,200 pr. yr.)..
2d consol, inortg., gold (pledged for B.A O.

PittsD. Va. dk

Value.

506

Baltimore—Stock

•

1st mortgage,

Par

Road. Bonds

do
do
do

Piedmont dk

Size, or

Date
of

Miles
of

Ac., see notes

explanation of column headings,
on first page of tables.

Philadelphia Wilmington dk
Flain bonds, registered

discovered in these Tables.
Borah—Prinol-

immediate notice of any error

great favor by giving

DESCRIPTION.
Fm

[Vol. XLV.

'

24,060,720
$

2,508,000

1,692,961
847,360

5,929,200
12,617,000
1,451,050
845,826

262,500
50,989

262,500
447,144

24,211,263
$

23,879,426
$

2,508,000
5,929,200

2,508,000
5,929,200
12,617,000
2,013,724

12,617,000

845,826

845,290

262,500
38,018

262,500
37,298

1,680,136

..

—

connects the West Va. Central A
system, and has a traffic con¬
Stephen B. Elkins, President.
Pine Creek.—Stokesdale Junction to Newberry Junction, Pa., on the
Coming C. A A. Road, 75 miles. Formerly Jersey Shore Pine Creek A Bnit.
RR. It is operated by tlie Fall Brook Coal Co., and forms a connection
between Philadelphia A Reading lines and N. Y. Central, and bonds are
that guarantors
shall advance money for interest if needed and
Earanteed
by these companies
take 2d mortgage bonds for such advances. Stock $1,000,000. Stock
&md bonds were largely bold by Mr. W. H. Vanderbilt. Gross earnings in
1885, $538,326; net, $167,564 ; lent of road, $161,498; surplus, $6,066.
PIttsbnrg Cincinnati Sc St. Louis.—Owns from Pittsburg, Pa..
Columbus, Ohio, 193 uiles; branch to Cadiz, Ohio, 8 miles; total, 201
miles. This wr a a consolidation of several companies, May 1, 1868, inabiding th« Steubenville A Indiana and the Pan Handle roads. This com¬
pany is controlled by the Penn. Company, through the ownership of a
majority of its stock. The P. C. A St. L. also has leases of the Little Miami
■adits dependencies. Common stock, $2,508,000; first nref. $2,929,200;
second preferred, $3,000,000; par value of shares, $50. Authorized
amount of 1st mort. $10,000,000, of which $3,157,000 reserved.
The report for the year 1886 said: “The tonnage transported was
4*804,SS9 tons, against 4.066,386 tons in 1885, a gain of 798,503 tons,

T»., to Cumberland, Md., 30 miles. It
Pittsburg RR. with the Pennsylvania RR.
tract from the Pennsyl\ ania Railroad.

n




and the Coming C. A A., on the condi-

23,879,426
dOhw.)

23,908,010 24,060.720 24,214,268
V. 43, p. 245; V. 44, p. 342.)
Pittsburg Cleveland Sc Toledo.—(See Map of Baltimore
—From Newcastle Junction, Pa., to Akron, O., 77 miles.
Stock $3,0lnV
uOO, par $50. Leasediu July, 1884, for 99 years, to Pittsburg A Western,
which was controlled by Baltimore A Ohio, aud the Baltimore AO tup

Total liabilities
-(V. 42, p. 366, 547;
.

Company guarantees
39, p. 607.) In the

interest on the P. C.

A T. bonds (see terms in V.

ending June 30, 1886, gross earnings were
$132,462; interest, rentals, Ac., $260,802; deficit*
year

$403,825; net,
$128,340.
Pittsburg Sc Connellsvillc.—Owns from Pittsburg,
Mt. Savage June., Md., 147 miles; branch, 2 miles; leased
total, 171 miles. Leased to the Balt. A Ohio Railroad since

?*•>..

lines, 22 nines,
J^jKi'
1876. The city of.Baltimore trausfened its interest to the BaraRailroad for $1,000,000, and the consolidated sterling moregage was made and guaranteed by the Baltimore A Ohio, of
enough is reserved to retire the prior bonds. It is operated as m
Pittsburg Division of the Baltimore A Ohio RR. In 1884 the Balt.
Ohio issued its bonds for $10,000,000 secured by pledge of the above,
consolidated mortgage of the Pittsburg A Conuellsville RK. StocK,
$1,944,400. Iu 1885-86 gross earnings, $2,4.30,035; net were $842,
Pittsburg Fort Wayne Sc Chicago. Owns from Pittsburg*
to Chicago, Iu. 468 miles.
The company made default Oct. 1,
' • “r.
again in 1859„and was foreclosed Oct. 24, 1861, and reorganized unae
more

BASROTANILDCOSK.D

1N8ovum7be.],
.




is

SUPPLEMENT.

INVESTOKS’

04
Subscriber* will confer a great

of column headings, Ac., see notes
first page of tables.

on

INTEREST OR DIVIDENDS.
Miles
Date Size, or
Amount
Where Payable, and by
Rate per When
Par
of
of
Outstanding
Whom.
Cent.
Payable
Road. Bonds Value.

Pittsburg Youngstoion dk Ashtabula—

Ashtabula & Pittsburg, 1st rnort., coup, or reg...

Port Huron dk Northwestern—1st
Consolidated mortgage

mortgage

62
218
218
218
24
112
112

Equipment mortgage

Pori Jervis Monticelto dk N. Y.—Stock
Port Roy at dk Augusta—1st mortgage
2d mort., endorsed by Central Ga

68

Augusta & Knoxville mortgage
General mortgage income bonds, coup
Port Royal dk West Carolina- 1st mortgage
Portland dk Ogdensb — 1st mort., gold
Consol, mortgage (for $3,300,000)
Portland dk Rochester—Stock ($600,000)
Portland dk Willamette Valley—1st mort.,
Portsmouth <& Dorer—Stock
Portsmouth Ot. Falls dk Conway—Stock

....

$1,000

1878
1879
1882
1881

135,000
500,000

....

•

.

•

•

1878
1882
1880
1878

100 Ac.

250,000

100 Ac.

112,000
630,000
1,500,000

4870
1871

500 Ac.
100 Ac.

•

•

•

1,549,000

gold.

ioo
1886

11

73
73
73
73
23
51

Worcester—Stock

1877
1886
1886
1872

1,000
100
100
500 Ac.

1,000
1,000
1,000
100
100

108
97
40
40

(extendec

2d mortgage, coupon (extended in 1884)
Debentures
Lancaster A Reading, 1st mortgage
Bensselaer dk Saratoga—Stock
1st mortgage, consolidated (for $2,000,000)...

15
193
79

1886
1873
1862
1864
1877
1873
1871

•

-

•

1,000
1,000
lOOAo.
1.000

1,000
100 Ac.
100
1.000

On June 27, 1869, the company leased all ts
to the Penn. RR at a rental equivalent to interest,
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was
increased at that time from $11,500,000.
The lease was transferred
subsequently t o the Pennsylvania Company. The lessees are to keep
the road in repair and also pay taxes, expenses, Ac. The rental and
interest charge is about $3,126,000 per year, and the profit to lessees
had been large; in 1884 and 1885, however, there was a loss to lessee.
The Pitts. Ft. Wayne A Chic, leases the Newcastle A Beaver Val. and the
Lawrence roads, which in turn are leased again by the Pennsylvania Co
The first mortgage bonds are in six series lettered A to F, inclusive
of $875,000 each series, the interest on “A” series being pa3rable Jan.,
and July; on “B” it is Februa ry and August; on “C” it is March and
September ; on “D” it is April and October; on “E” it is May and Nov.,
and on “F” it is June and December. The second mortgage is also in
six seriesof $860.000each, lettered II to M inclusive (J omitted), and the
interest is payable Jan. and July on “G” series, Feb. and Aug. on “ II,”
March and Sept, on “ I,” April and Oct. on “ K,” May and Nov. on “ L,”
and June and Dec. on “M.” The bonds are coupon, but may be regis¬
this title Feb. 26, 1862.

road and property

590,800

Miles.

Years.

1882..
1883..
1884..

1885.

.

..

..

Passenger
Mileage.

468 140,057,682
468

127,520,075

468 110,639.940
468 131,613,104

1886.... 468 104,370,187

Freight (ton)
Mileage.

Gross

Earnings.

$4,368,465
3,747,519
2,907,465
9,2u4,314
2,411,45 L
8,237,156
3,083,012
9,129,340

991,907,501 $10,957,133
944,563,376
907,951,237

953,561.515
903,083,277

Available Div’d

Revenue,

10,965,656

p.

ct.
7
7
7
7
7

Pittsburg Junction.—From Monongahela River to Allegheny
River, Pittsburg, Pa., 4*4 miles, including side tracks and branches.
Built under auspices of B. A O. and Pittsburg A Western, which compa
nies made an agreement to pay $2 for each car, and guaranteed (separ¬
ately) a minimum of $240,000 per annum. In 1886 gross earnnigs
■were $176,000 and net $140,090. Common stock is $960,000.
Preferred
stock, $480,000. In 1886 7 per cent dividend was paid on the pre¬
ferred stock. (V. 44, p. 118.)
Pittsburg & Lake Erie.—Owns from Pittsburg, Pa. to Youngs
town, Ohio, 68 miles; branch line to Newcastle. Pa., 2 miles; total, 70
miles. Leased fr om Jan. 1,1884, for 99 years, the Pittsburg McKeesport
& Yougliiogheny RR , from Pittsburg to New Haven, Pa., 57 miles, with
brandies, 5 miles. Scrip certificates for $615,000, bearing 6 per cent
interest and payable at will, are also outstanding. This company is

managed in the interest of Lake Sh. A Mich. So..

The stock was put

in trust but the Vanaerbilt interest was allowed to vole and control the
road; see V. 45. p. 540. In ’86 gross earns., $1,376,861; net, $375,655.
Jno. Newell, Fres’t, Cleveland. O. (V. 44, p. 91, 544; V. 45, p. 540, 673.)

Pittsburg McKeesport 6c Yonghlogheny.—Owns from Pitts¬
burg to New Haven, Pa., 57 miles; branches, 8 miles; total, 65 miles.
Road opened Nov., 1883, and leased to Pittsb. A Lake Erie RR. for 99
years, 6 per cent on the $3,000,000 stock and principal and interest of
the bonds being guar, by P. A L. Erie and Lake Shore A M. So. Cos., the
guarantees being endorsed on the share certificates and bonds. Gross
earnings in 1885, $587,723; net, $320,270; paid interest and dividends,
$359,173; deficit, $38,903. Gross earnings in 1886 $641,838; net,
$367,042; paid interest and dividend, $360,380; surplus, $661. W. C.
Quincy, President, Pittsburg, Pa.
Pittsburg: Palnesville 6c Fairport.—Owns from Fairport. O.,
to Youngstown. O., 62 miles. Leased in Dec.. ’86 to the Pittsburg A
Western the 52 miles from Fairport to Niles. The Painesville A Youngs¬
town RR. Co. made default, and road was sold in foreclosure June 2,
1879, and reorganized. Sold again In foreclosure June 3,1886, for $4o0,000, and P. P. A F. Co. organized. Com. stock, $800,000;pref., $250,000
Pittsburg Virginia 6c Charleston.—From South Pittsburg, Pa.,
to Uniontown, Pa., 70 miles. The stock is $1,505,000. The bonds and.

f1,251,05o
are ownedDividends
Gross
nt the net,
stock$252,232.
by the Penn.RR.
earnings,
share
886, $629,104;
of $1 50 per
paid in

and
per cent April 4, 1887.
Pittsburg 6c Western.— (See Maf>)—Owns from Alleghany City.
Pa., to New castle. Pa., 6t miles; Callery June, to ML Jewett, 137 m ;
Duck Run Branch, 3 in.; Clarion Branch, 6 in.; other branches, 2 miles;
total. 212 miles. Leases P. C. A Tol., New Castle Junction, Pa., to Val¬
ley Junction, O., 77 miles, and uses 26 miles of Cl. Mt. V. 3s Del. RR.,
Akn>n.O., to Orville, v* ; total, 315 miles. Tins was a consolidation of
March and September, 1885,




City Bank.
Broadway.

Aug. 1, 1908

Oct. 1, 1899
Mar. 1, 1922

6
6
7

Last
Last

J. A J.
M. A N.

6

*6*

7

Jan., 1900
Nov., 1901

Boston, Office.
July
J. A J, N. Y., Farm. L. A Tr. Co. Jan.
J. A J.
Portsmoutn, Treas,
July
J. A J. Bost., Eastern RR. Co. July
J.
J.

A D.
A J.

do
New York
do

do

Agency.

do
J. A J. Providence,Am. Nat.Bk
J. A J.
Providence, Office.
A. A O. Providence R. I.H.T.Co.

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

8
5
56
7
4

1, 1899
1898
July 1, 1900
Jan. 1, 1899

July, 1886
15,1887
1, 190Q

A J.

....

2i*

paid Julv, 1887.
paid Nov., 1883.
Portland.

....

J.

Jan.

m9

....

41*

A
A
A
A
A
A
A
A

*J.
J. Phila..Pa..A Ral’gh,N.C.
S.
Phila., Co.’s Office.
do
do
D.
do
do
D.
do
do
J.
J. N. Y., Nat. B’k Com’rce.
N. iN.Y., Del. A H.Canal Co.

1, 1887

15, 1973

June 1, 1937
Jan. 1. 1916

1916

July 1, 1893
July 1, 1887
1897
Jan. , 1926
Jan. , 1898
Mcli. 1, 1912
June 1, 1904
Dec. 1, 1917

July 1, 1893
July 1, 1887
Nov.

,

1921

’81, and in ’83 Pitts. Brad. A Buffalo was
acquired. In July, 1884. leased the Pittsburg Cleveland A Toledo RR.,
making a line to Akron, O. Operated in the Baltimore A Ohio interest,
and went into receiver’s hands in March, 1885. Sold in foreclosure

several roads dated June 15,

York ; Secretary, H. D. Campbell, Pittsburg; Directors—James Callery,
J. W. Chalfant, William Semple. Allegheny; II. W. Oliver, Jr , Pitts¬
burg ; A. J. Thomas, C. H. Coster, A. II. Brock, New York.
The plan of reorganizat on (in the Chronicle, V. 44, p 370) pro¬
vided for the issue of a now 1st mort. gold for $10,000,000 at 4 per

cent, and $5,000,000 of pref. 5 per cent stock, and $7,000,000 common
stock.
(See abstract of mortgage Mercantile Trust Company of New
York, trustee, V. 45, p. 4 39. From July 1 to September 3o in 1837 (3
months), gross earnings were $557,259 ; net over expenses, rentals and
taxes, $159,636; surplus over mtore-t, $53 646. Iu 1884-85 gross earn¬

ings, $844,793 ; net, $230,175. In 1885-86, gross earnings, $1,091,463 ; net, $334,028. (V. 43, p. 399; V. 44,p. 370, 544, 752 ; V. 45, p.

Harbor, O., to

the gross
earnings

Y., 231 Broadway.

N. Y., Nat.
N. Y., 234

J.
A J.

A

J.
J.

6 8•
6 g.
3
3
7 g3
3

lng funds Jan. 1, 1887.

Oon8umuiated.
Operations and earnings for five years oast were as below; in
the net protits on leased lines are included, and in the net the
paid to the C. A P. road are deducted.

N.

A J.

J.

....

26,113,439,614.)

of the first part in writing.” * * *
It was proposed to change the terms of the lease so as to issue bonds
to the lessee instead of the special guaranteed stock, but this was not

Dividend.

....

•

7
6

tered payable to order. Of the 1st mortgage bonds, $1,633,500, and of
the 2dmortgage $1,949,500, and $823,767 cash, were held in the sink

The special improvement stock is issued to
Pennsylvania RR. for improvements, Ac., under article 16 of lease,
which provides that the lessee may issue special bonds or stock, and
says: “The said party of the second part shall guarantee the payment,
semi-annually or quarterly, thereon of such rate of interest as may be
agreed upon between the parties hereto, to be paid by the said party of
the second part to the holders thereof without deduction from the
rent hereinbefore reserved; and the said special stock, or bonds, or
other securities, shall be issued only in respect to improvements of and
additions to the said railway which, and estimates and specifications
of which, shall have been submitted to and approved by the said party

A A. Phil., Fid. I.T. AS.D.Co.
A O. N. Y., First Nat. Bans.
A S.
do
do
A A.

....

1,500.000
400,000
769,000
1,150,300
1,000,000
775,000
775,000
500,000
2,500,000
873,000
1,000.000
1,000.000
650,000
350,000
1,000,000
350,000
8,155,300
1,925.000

*

6

1.242,000

1877

F.
A.
M.
F.

Stocks—Last*

5

800,000
2,377,000

....

51
29

Bonds

Haleigh dk Augusta—Stock
1st mort., funding coup
Haleigh
Qaston—1st mortgage
Beading dk Columbia—1st mort, coup,

755,000
920,000

....

.

6
7
6
7

$1,500,000

......

•

60
94

Prescott dk Arizona—First
2d mortgage, incomes..
Providence dk

discovered in these Tables.

favor by giving: immediate notice of any error

DESCRIPTION.

For explanation

[Vol. XLY.

Pittsburg Youngstown 6c Ashtabula.—Owns from Ashtabula
125 miles.
In July, 1887, this orgauization was
made by consolidation of the Ashtabula A Pittsburg with the Niles &
Alliance, Lawrence A Newcastle and New Brighton roads, under the
above title.
(V. 45, p. 112.)
Port Huron 6c Northwestern.—Port Huron to East Saginaw,
91 miles; Saginaw Junction to Saud Beach, 58; Port Austin to Palms,
35 ; Port Huron to Almont, 34; total, 218 miles. In 1886gross earnings
were $315,985 ; net earnings, $101,662; interest payments, $141,811
,

Iu 1885 gross, $297,762 ; net, $84,283; interest payments, $140,574,
John P. Sanborn, President, Port Huron, Mich.
Port Jervis Mouticello 6c N. Y.—Owns from Port Jervis, N,
Y., to Monticeilo, N. Y., 24 miles. Was sold in foreclosure July 16,1375,
and again sold out in Nov., 1886,: and then reorganized under present
title. H. R. Low, Middletown, Prest. Gross earn’s iu 1884-85. $20,530.

1885-86, $10,720; net, $1,944. (V. 43, p. 309, 579.);
Royal 6c Augusta.—Owns from Port Royal, S. C., to Augus¬
ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta A Knoxville road,

net, $5,355. Gross in
Port

Augusta, Ga., to Greenwood, S. C., 68 miles, for 99 years, at 4 per cent
ou stock of $127,639, aud assuming the bonded debt.
Formerly Port
Royal Railroad. Defaulted Nov. 1, 1873, and receiver appointed May 9,
1875. Sold in foreclosure Juno 6,1878, and purchased for the bond¬
holders, who organized this company. The Georgia Railroad was en*
dorser

on

$500,000 of the old bonds.

The stock' is $750,000, and in
Central Georgia RR.

June, 1881, a controlling interest was purchased by
parties. Gross earnings in 1885-86, $452,113; net,
gr<»ss $412.1>'4 ; net, $58,148.
„
Port

Royal

6c AVest

$58,102. Iu 1884-85,

Carolina.—A com-olidation of several

roads m 1887 with common stock of $1,234,000 and pref. stock $184,000. See V. 45, p. 643.
Portland 6c Ogdensburg.—Owns from Portland Me., to Fabyans,
91 miles. It reaches the Vermont Division (now St. Johnsbury A Lake

Champlain) by using 14 miles of the Boston Coueord A Montreal RR.
and a 3-mile link of its own. In 1876 the company made default on the
1st mortgage interest and foreclosure proceedings were begun, but com¬
promise was made by giving notes for overdue coupons up to July, 1878.
The city of Portland owned a controlling interest in the stock, $1,052,186, and $1,356,000 of the cousol. bonds.
In March, 1834, a foreclosure suit was begun and receivers appointed.
In June, 1885, a decree of foreclosure was made, and a filial decree
filed Doc. 15, 1885, and apian of reorganization was stated iu V. 41, P.
In June, 1886, the new company was organized as the P. & 0.
421.
Rail way Company. Samuel J. Anderson, President. Portland, Me.
Gross earmngs in 1881-.s5 were $361,993; net, $99,157; gross in
1885-86, $361,376; net, $121,782. (V. 43, p. 211,672; V. 44, p. 119.)
Portland 6c Rochester.—Owns from Portland, Me., to Roches¬
ter, N. H., 53 miles. The old company was put in the bauds of •
Receiver February, 1877.
Foreclosure suit was begun, but a settle¬
ment was made iu 1881 by which all the old stock and bonds were con¬
verted into the stock of the new Co. In Nov., ’85, a lease to the Boston
A Maine was made for 50 years. Gross earns, iu 1885-6, $191,503; net,
$42,594. In 1834-5, gross, $181,900 ; net, $25,272 —(V. 43, p. 717.)
Portland Saco 6c Portsmouth.- Portland, Me., to Portsmouth,
N. H.,51 miles.
It was leased May 4, 1871, to the Eastern Railroad,
Mass., at 10 per cent on stock. Lease rental changed May 21, 1877,
and now 6 per cent. The Boston A Maine Railroad leased the Eastern
in 1884 with all its leased roads.
Portland 6c AVillamctte Valley.—Line of road from Portland,
Or., to Dundee, 28 hi miles, connecting with Oregonian Railroad, with
which it has a freight contract for 15 years. Bonds may be redeemed
.
at 105. Stock. $150,000.
Portsmouth 6c Dover.—Portsmouth, N. H., to Dover, N. H., it
miles. Oneued February 1, 1874, and leased for 50 years to Eastern
of New Hampshire at 6 per cent per annum on the stock. Operated
now bv Eastern (Moss.)
Frank Jones, President. Portsmouth, N. H.
Portsmouth Great Falls 6c Conway.—Owns from Conway
,

Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
in Massachusetts has made a lease of the road for 60 jmars from Deo. L
1878, with a guaranteed rental of $45,000 a year, which pays 4ki pe*

$1,000,000 bonds, and the stock is to receive the same divlaenaa
Total stock, $1,150,300, of which lessee*
$551,300.

cent on
as

the stock of the lessees.

own

IQ
©

BONDS.

RSAATIOLNCDKD

18NoveTm.br,




!j!i

INVESTORS’

06
Subscribers will confer a great

explanation of column headings, Ac., see notes
on first page of tables.

Richmond dt Alleghany—1st mortgage, gold
Second mortgage, gold
Richmond rf Danville— 3d mort. (consol, of 1867)..
General mort., gold (for $6,000,000)
Debenture mortgage bonds, cumulative
Consol, mort., gold ($15,000 per mile)
Piedmont branch, 1st mortgage
Northwestern, N. C., 1st mort., guar
Richmond York River A Ches., 1st mortgage
do
do
2d mortgage
do
do
Stock guar. 6 p. ct
Rich'd Fredericksburg <& Potomac—Bonds, ster
Dollar loan

I?'

Coupon bonds of 1890
Coupon bonds of 1901
Richmo'nd <& Petersburg—Stock

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.
252
252
141
141
....

....

48
29
38
38

1880
1881
1867
1874
1882
1886
1868
1873
1873
1880

....

4,000.000
617,500

lOOAc.
1.000

1,154,0.0
500,000

1.000

500,000

1,000

400,000
400,000
497,000
57,327
309,594
150,000
300,000
1,000,000
369,000

1,000
....

.. .

....

....

....

....

....

100
500 Ac.

....

100

40,000,000

100

5,000,000
7,637,000
552,200

....

1887

....

....

1878
1885
1885
1886

45

....

1855
1861
1872
1874
1871

1,000

1100
25,000
5,000
100 Ac.

1,000

$34,890.

plain, N. Y., 79 miles; Troy to Waterford Junction, N. Y.6 miles
Whitehall. N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell,
15 miles; total opeiated, 192
miles.
It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. leased the whole March 1, 1871, at a rental of 8 per
cent on the stock and int< rest on the bonds.
In the fiscal year end¬

ing Sept. 30, 1886, the payments by the lessee company for rentals were
$885,187, leaving a surplus of $14,891. From April 1 to Sept. 30 in
1887 (6 n os.) gross earnings were $1,380,356, against $1,308,119 in
1886; net, $7 59, 186,agaiiist $614,366; surplus over charges, $28,241,

(V. 43, p. 580; V. 45, p. 180, 614.)
Richmond Sc Alleghany.—Owns from Richmond to Clifton Forge,
23Q miles; lnanch to Lexington, 19 miles; dock connection, 1 mile;
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con¬
nection, 2 miles; total, 256 miles. The company was chartered Feb. 27,
1879, and acquired by purchase tne properties and franchises of the James
River A Kanawha Canal Co., and the Buchanan & Clifton Forge Railway
Co., including water rights on James River and terminals in Richmond;
the cost of these in stock and cash was $6,588,609.
The stock is $5,000,000, and car trust certificates for $376,003 are

against $91,529.

In May, 1883, default was made, and on June 23 receivers
appointed. Decree of sale expected in the fall of 1887.
The plan of reorganization as changed in March, 1,887, proposed that
the new securities be $6,000,000 5 per cent firsts; $5,000,000 pre¬
ferred stock, and $5,000,OOo common. In 1888 24 per cent interest
will be paid on the bonds and 5 thereafter. The present lstswill get
100 per cent in new ' rsts, 37 per cent in preferred stock and 30 per cr.
in common stock. The 2ds get 53% pe. cent in preferred stock and the
common stock gets 70 per cent in new common, having paid 10 per cent
assessment in all, including $2 10 already paid. Earnings from opera¬
tions for three years ending 8ept. 30 were:

outstanding.
were

1885-86.

1886-87.

earn’gs, inch rents, docks, Ac. $589,591

$597,018

$615,850

404,918

438.350

457,954

$184,673

$158,698

$157,896

1884-85.

Operating expensos
Net earnings

—(V. 44, p. 58, 119, 435, 495.)
Richmond Sc Danville.—(Sec Map.)—The main line is from Rich
mond, Va., to Danville, Va., 141 miles; branches, 12 miles; Danville,
Va., to Greensboro, N. C., 47 miles; Salem Junction, to Salem, 25 miles.
The whole system operated is given un .cr the R ^ \V. P. Terminal Co.
In April, l -sSo, the Virginia Midland RR. w .s leased for 99 years, and
the Columbia & Greenville, Charlotte Columbia & Augusta, and Western
North Carolina also leased for 99 years. The Piedmont RR. is virtually
owned and the Northwestern North Carolina also owned. The Rich.
York R.& Chesapeake is leased in perpetuity.
The Richmond & Danv.
Extension Co. was organized to build Georgia Pacific RR., and large
advances were made to it by the Rielin end A West Point Terminal Co.
In Nov., 1886, negotiations led to a sale of a large majority of the R. A
D. stock to the Terminal Company, which then became the principal
c irporution, and afterward, in Feb., 1887, exchanged its own stock for
the R. A D. sio-.-k in the proportion of fo r shares of Terminal for one of




1,500,000
150,000

A

A. A

s-

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

A
A
A
A
A
A
A
A
A

450,000

150,000
375,000

.

2^

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

10
6
6 g.
6 v.

7

leased, 15 miles; operates Marietta Junction to Cliickies; 6 miles; total
ouerated, 77 miles.
Stock, $958,268. The road is controlled and oper¬
ated by Philadelphia A Reading, but accounts kept separate. Default
was made in 1886-7 in the payment of interest on the debenture bonds
to the amount of $60,000. The first mort. 7 per cent bonds due 1882
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex¬
tended twenty years at 5 per cent. Gross earnings in 1884-85, $356,108; surplus, $76,362; 1885-86, gross, $382,358; surplus over interest,
&c., $66,965.
Rensselaer Sc Saratoga.—Owns from Albany to Lake Cham

A

F. A A.
J. A J.

500,000

Reading Sc Columbia.—Owns from Columbia to Sinking Springs,
Pa., 40 miles; branches, 16 miles; Lancaster A Reading Railroad,

A
&
A
A
A

3ia

Where

A
A
A
A
A
A
A
A
A
A
A

Payable, and by

Bonds—Princi.V

pal,When Due.

Stocks—Last

Whom.

Dividend.

J.
Last paid Jan., 1883.
N. Last paid Nov.. 1882.
N. N. Y., Central Trust Co.
do
do
J.
do
do
O.
do
do
O.
do
do
0.
Richmond.
O.
do
J.
do
N.
J.
London.
J.
J.
Richmond, Office.
J Phil..Townsend W.ACo.
N.
Richmond, Office.
J
Richmond, Office.
do
do
N.

6 g.
3

1.000

interest and dividends, $36,844.

g.

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

'2'^

1,000,000
6,457,000

R. 1., to

g-

8
6
3
6 & 7

1,000

total operated, 51 miles.
Notes outstanding are
$250,009. In 1885-86 gross earnings were
$1,245,711; net, $371,507. In 1884-85 gross, $1,077,166; net, $321,07. (V. 43, p. 607, 738; V. 45, p. 673.)
Raleigh Sc Augusta.—Owns from Raleigh, N. C., to Hamlet, N. C.,
98 miles; Hamlet to Gibson, 10 miles; leases Monteure to Pitisboro. 12
miles; total, 120 miles. Formerly Chatham Railroad, and is controlled
by Raleigh & Gaston. In 1886 bonds were issued to redeem preferred
stock. Gross earnings in 1885-6 were $220,015; net, $69,324.
Raleigh Sc Gaston.—From Raleigh to Weldon, N. C.. 98 miles
and Louisburg branch 10 miles. The stock is $1,500,000. In April, ’84,
3 perct. dividend paid, 3 in Oct., 1885, and 2 in April, ’86. John M. Rob¬
inson, Pres’t, Baltimore. Gross earnings for ti.-cal year ending Sept. 30,
1886, $467,142; net, $106,582; other receipts, $70,405; surplus over

gg.

5, 6,7

1,000

Worcester, Mass., 44 miles; branches, 7 miles;

Gross

7
6
6
6
6
5
8
6
8
6
3
5

6
7
7
5

In 1885-86, gross earnings, $102,563; net, $38,032;
Worcester.—Owns from Providence,

Payable

5,390,100
418,100
1,021,500

Providence Sc Springfield.— Providence, R. I., to Pascoag, 23
miles. It was proposed to extend the road to Springfield, Mass., 80 miles.
Stock is $516,850. In 1884-85, gross earnings, $92,700; net, $45,545;

Providence Sc

Cent.

100
100 Ac.
500 Ac.

Prescott A: Arizona Central.—Owns from Prescott Junction to
Prescott, Aiizonu, 73 m les. Central Trust Co. of N. Y. is mortgage trus¬
tee. T. S. Bullock, President, 42 Wall Street.

interest,

When

2,708,0 0

1875

25

Rate per

4,878,000

1,000
1,000
1,000

....

....

Syracuse Northern (gold)

$4,982,000

....

.

Outstanding

1,000

....

•

INTEREST OR DIVIDENDS.

Amount

$1,000

mmm

25
Consol, mortgage ($50,000 are 7s)
4,952
Richmond <£ West Pt. Ter. R. ct- TF. Co.—Stock
Preferred 5 per cent stock, cumulative ...
Collateral trust bonds, gold (payable at 105)
c*
18
Rochester <£ Oenesee Valley—Stock ...
Rochester <t Pittsburg—See Buffalo Ii. & P.
113
Rock Island <£ Peoria—Stock
91
1st mortgage
r
113
Cousol. 1st mortgage
r
22
Rome <£ Carrollton—1st mort., gold
25
Rome <£ Decatur—1st mort.. go.d ($15,000 p m.)...
656
Rome Watertown <£ Ogdensburg —Stock
97
1st sinking fund more, Wat. A R. (extended)
190
1st mort., sink, fund (2d mort. on 91 miles)
190
2d mort. (3d mort. on 91 miles)
409
Consol, mort., (extended July, 1882, at 5 per ct.).

interest, $36,163.

[Yol. XLV.

favor by giving Immediate notice of any error discovered In tliese Tables.

DESCRIPTION.

For

SUPPLEMENT.

N. Y., Central
do

July 1, 1920
May 1, 1916
May 1, 1890
1915

April 1, 1927
Oct. 1, 1936
1888
1902
Jan. 1, 1894
Nov. 1, 1900

July 1, 1887
1901

1895-’99-1902
1890
1901

July 5, 1887
May 1, 1915

July* 1,*

Trust Co.
do

N.Y.,hy N.Y L.E.AW.Co

1887

Feb. 1,1897

.

July 1, 1887

J. N. Y., Corn Exch. Bank.
July 1, 1887
do
do
Jan. 1,1900
J.
do
Jan. 1, 1925
do
J.
Jan. 1, 1916
N. Y., S. Borg A Co.
J.
Dec. 1,1926
D N.Y., Amer. L’n ATr. Co.
N. Y. Office, ft Pine St. Aug. 15,1887
J.
8. N. Y., Central Trust Co.
Sept. 1, 1910
Dec. 1, 1891
do
do
D.
Jan. 1, 1892
do
do
J.
do
do
O.
July 1, 1922
do
do
J.
July, 1901

Richmond A Danville. The R. & D. stock ($5,000,000) was thus taken
and held by the Terminal Co.
The total authorized issue of general mortgage bonds la $6,000,000,
of which part is reserved to take up prior liens and the Piedmont RR.
bonds. The interest on the Debenture bends was strictly cumulative and

they carry unpaid the coupon of Oct., 1883, and all since, making 24 per
cent April, 1887, and a proposal was made to the holders to issue
to them in exchange for these coupons 24 per cent in new’ consol, mort.
5 per cent gold bonds. Tlio consolidated gold mortgage of 1886 was
issued for an authorized amount of $11,220,000 to take up the geu. mort¬
gage bond->, the debentures and their overdue in rerest, and the North¬
western N. C. RR. bonds, guaranteed. Also further issues at $15,000 per
mile can be made to retire bonds of leased lines.
(See V. 43, p. 275.)
The annual report for the year ending Sept. 30, 1886, was published
in the Chronicle, V. 43, p. 717, containing the following:
1885-86.
- 1884-85.
1883-84.
Total receipts
$3,999,147
$4,012,028
$3,834,737
Operating expenses
2,121,553
2,231,486
2,218,977
Net

$1,890,475

receipts

INCOME ACCOUNT.

1885-6.
Net re venue for the year
Interest on debt, rentals,

1884-5.

$1,615,760
1883-4.

$1,890,475
&c... *1,467,658

$1,767,661
*1,483,097

$1,617,358
*1,470,908

$422,817

$284,564

$.36,450

Balance over all charges.
*
The int. charge on debent’s

-(V. 43, p.
335, 435.)

$1,767,661

is included hero in full, but it was not paid.
73, 163, 275, 516, 548, 635, 717, 738; V. 44, p. 185, 308,

Riclimond Fredericksburg Sc Potomac*—Owns from Riohrnond, Va., to Quantico, 82 miles. In November, 1881, there were
voted dividend certificates lor $755,039 to be issued to holders of com¬
mon stock (70 per cent on each share), to represent money spent on

the property out of earnings, and afterwards a similar issue on guaran
teed stock. The common stock is $1,030, 100; guaranteed stock, $500,400 (6 percent except $19.000guar. 7 per cent), and “dividend
tions’’ $1,066,500.
Dividends of 6^3 per cent paid on common stock
out of profits of 1887.
In year ending Sept. 30, 1886, gross earnings

obliga¬

were

$505,412;net, $233,876; interest, aud guaranteed dividend charges.
In 1836-87 gross earnings, $537,522; net, $170,366; in¬

$85,204.

guaranteed dividend, $83,269; surplus) $170,336. (V. 43, p.
‘
Richmond Sc Petersburg.—Owns from Richmond to Petersburg,
Va., 23 miles; branch, 2 miles; total, 25 miles. The road has earned
moderate dividends and the debt account is very small.
Tn 1885-86
gross earnings, $207,454; net, $95,598.
In 1884-85, gross, $192,650;
net, $95,168. V. 43, p. 717.)
Richmond Sc West Point Terminal Railway Sc Ware¬
house Co.—(Nee Hap.)—The mileage controlled and operated in Aug.,

terest and

670.)

1887, was as follows:

Piedmont
39 m.;
Uni¬

Richmond A Danville System.—Richmond & Danville and
RR. and branches, 208 miles: Riehm’d York River A dies. RR.,
Northwestern No. Carolina RR., 25 in.; No. Carolina RR. and State

versity RR., 232 m.: Atlanta A Charlotte Air Line R’way and branches,
288 m.; Virginia Midland R’way, 413 m.; Wash’n Ohio A West’ll RR.,
50 in.; Wes .’ii No. Car. RR., 290 in.; CliarL Col. A Aug. RR. and leased
lines 373 m.; Col. A Greenv RR., leased lines and branches, 296 m.;
Asheville A Spartanburg RR , 70 m.; Kuoxv. A Aug. RR., 16 m.; Rich.
A Mecklenburg RR., 31 m.; Georgia Pae. R’way, 382 in.; Northeastern
RR. of Georgia. 61 m ; total Rich. A Danv. system, 2,774 miles.
East Tennessee Virginia A Georgia System.—East Tenn. kk.,
Bristol to Chattan’ga, 242 miles; No. Car’na RR., Morristown to
43 5 m.; Knoxv. A O. RR.. Know, to Jellico, 65 5 in.; Ooltewali
Ll-5 m.; total East Tenn. Div., 362*5 miles; Cleveland to Selma,
m.;
Helma to Meridian. 113 in.; total Alabama Div., 377 miles; Atlanta Div..
Macon,
Rome to
158*5 m.; Brunswick Div., Macon to Brunswick (ana
Hawkinsvillo branch), 200 m.; total Georgia Div., 358*5 miles;

Unaka,
Cat-Off,
264
Mobfie

,o/o minis.

vjkaisi#

juuai, ua

all. iuiLLAut., -±,1,0*..

,

,

Legislature of Virginia
the Richmond®
of a majority.
lar^e major¬
purchased
ity of the R. A D. railroad stock, and a new board was elected, it was
voted in December to issue $5,000,000 of pref. Terminal stock, secum
by the deposit in trust of 25,000 shares of R. A D. stock; auJ>il^.r?rHa
the common stock was increased to $10,000,000. I11 Jan., 1887, $6,olMv
000 of the East Tenn. Va. A Ga. first pref. stock was bought, giving con¬
trol of that Co. for five years (unless 5 per cent dividends per annum
are paid on that stock for two years), and $1,760,900
of Richm.®
Danv. stock was taken. See ti ruis of this negotiation in \ . 44, p. a* •
This company was Incorporated by an act of the
of March 8, 1880.
It was the auxiliary corporation of
Danville RR. Co., controlling several stocks by ownership
In November, 1886, tlio Terminal Company
a

CThe*report
in March, 1887 (V. 44, p. 401), showed that the Richmond
Point. T;
R. A Wareh. Company then owned the following

A West.

r.

common
stock,,$6,500,^
1st pref.; $2,6U,050Ricu.

stocks, viz.: Of its own stock. $28,633 pref. and $3,579,600
(to be exchanged for Richmond A Danv. stock, of which $2,499,00}'
be pledged); also, $1,230,190 or Rich. A Danv. RR.

(*$6,000,000 pledge 1), of East Tenn.Va. A Ga.
A Danville Extension Co.; $24,800 of Am. Construction

Co.; $1-0,wu




98

INVESTORS’

Subscribers will confer

a

For explanation of column headings, Sec., see notes
first page

Rutland—Stock,

of tables.

Miles
Date
of
of
Road. Bonds
135

common

....

INTEREST OR DIVIDENDS.

Size,

or
Par
Value.

Amount

General mort. (8 per oent. reduced to 6)
Mew 2d mort. in exch. for equipment bonds, Ac.
Sacramento d Plaeerville -1st mortgage (8. V. HR.).
1st mortgage (8. & P. RR.)

120
120
•

•

•

48
36
120

Saginaw Valley & St. Louis.—1st mortg., coup
St. Johnsbury dL. Champlain— 1st M.,coup. or reg.

Consolidated mortgage (for $1,000,000)
St Joseph d Grand Island—Stock
1st mort., gold, interest guar. by U. P
2d mortgage, Income
Bonds on Kan. C. A Om. RR. ($15,000 per

•

....

252
252
135
76
381
381
207
207
207
207

mile)..

Jjouis Alton d Terre Haute—Stock
Pref. st’ek (7 cumulative)
1st mortgage (series A) sinking f’d.'
1st mortgage (series B) sinking f’d Coupon; or j
2d mortgage, preferred (series C).. may be re-1
2d mortgage,preferred (series D).. gistered by >
endorsem’t
2d mortgage, incomes
Dividend bonds, income not cumulative
Belleville A Carondelet, 1st mort
Cbio. St. Louis A Paducah, 1st mort., gold, guar..
2d mortgage, Income
Louis Arkansas d Texas—Stock

m

m

m

m

•

•

•

•

17
•

•

•

•

m

mmm

2d M. (income till ’89), gold, ($13,000 p. m.)..c

1,035
1,035
1,035

1st mort., guar., M. A O. (for $4,000,000) —
St. Louis d Chicago.—let mort., g. ($10,000 p. m.)
Louis d Hannibal—1st mortgage ($600,000).

144
161
50
85

I* Jj> Ai£* (E 16X8i8p IB’;

gOIU

J3* ill./.u

.

1872
1878
1855
1877
1872
1880
1884
1885
1885
1887

$100 Ac.
100 Ac.

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

1,000

1862
1862
1862
1862
1862
1881
1883

1887

100
100
100

1,000
500Ac.

1,000
1,000
500AO.

1886
1885
1886

....

common

and

100

1,000
1,000
1,000
500 Ac.

pal,When Due.

whom.

Stocks—Last
Dividend

500,000
10,428,400
13,715,000
9,529,000
2,600,000
1,400,000

-

500,000
370,000

....

J. A J.
A. A O.
F. A A.
M. A N.
M. A N.
June 1
J. AD.

6
6
5
4
6
7

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

Sc

Boston.

Aug. 1,1887

Nov. 1, 1902
1898
1875
1907
May 1, 1902
Oct. 1, 1910

April 1,1914

Y., Central Trust Co.
do
do

do
do

May 1, 1925
July 1, 1925
Jan. 1,1927

April, 1884
■

7
7
7
7
7
6
6
5 g.
5

for 1886-67 with it
V. 45, p. 112,643.)

Sacramento

N. Boat. Columbian N. Bk.
A.
do
do
J. N. Y. Central Pae. RR.
J.
do
do
N. Boston, C. Merriam, Tr.
O. Bost., Am. L. A Tr. Co.

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

2>*
•

A
A
A
A
A
A

g.
g.
g.
g.

g.

come

A
A
A
A
A
A

N. Y.,Office 34 NassauSt.
do
do
do
do
do
do
do
do
do
do
do
do
do
do

do
do
do

do

N. N. Y.; Central Trust Co.
A.
Mercantile Trust Co.
O. New York or London.
J. N. Y., Farmers’ L. A Tr.
J.
New York.
J.

account wai in V.

45,

p.

112.

May 1,1886
July, 1894
July, 1894
1894
1894
1894
Jan. 1, 1894
June 1, 1923
1917
1917

May 1, 1936
May 1, 1936
1921
Jan. 1, 1931

July 1, 1915
1936

(V. 43, p. T2,

r

Plaeerville.—Owns from Sacramento, Cal., to

8hingle Springs, Cal. 48 miles. This was a consolidation of the Sacra¬
mento Valley and the Folsom A Plaeerville
railroads, April 19, 1877,
Capital stock, $1,756,000. Leland Stanford,
President, San Francisco.
Saginaw Valley Sc St. Louis.—Owns from Ithaca to Pains, 36
miles, and leases Alma to St. Louis and Pains to Saginaw, 9 miles;
total,
45 miles.
Opened January, 1873. Capital stock, $264,804. In 1886,
earnings were $90,131; net, $7,848. In 1885, gross, $74,941;
net, $22,909; interest payments, Ac., $35,680. In July, 1879,
manage¬

gross

ment

was

transferred to the Detroit Lans. A No.

St.

Johnsbury Sc Lake Champlain.—Owns from Lunenburg
Vt., to Maquam Bay, on Lake Champlain, 120 miles, and branch
from
No. Concord, Vt., to East Haven, 11 miles;
total, 131 miles. This was
stocks; grand total. $45,076,804. Of these, $21,416,000 (in¬ the Portland A Ogdensburg, Vermont Division, and was
reorganized

common

cluding those inaiked with

a star) wrere deposited with the Central Trust
security for the $8,500,000 of its collateral trust bonds
outstanding; those bonds maybe redeemed on notice at any time at 105.
Bee abstract of mortgage, V. 45, p. 575.
The prices of common stock have been as follows: In 1881,122®
174^; in 1882, 23®263; in 1883, 21®39; in 1884, 12®32: in 1885.
183s®4314 ; in 1H86, 27 *4^77 *4 ; in 1887 to Nov. 18 incl., 203s@53.
Pref. in It87 to Nov. 18 incl., 43@87i*.
(V. 43, p. 487, 516, 609, 635,
719; V.44, p. 22, 91, 119, 149, 204, 212, 309, 343, 401, 435, 459, 752;
V. 45, p. 575.)

Co. of N. Y.

as

Rochester Sc Genesee Valley.—Owns from Avon to Rochester
N. Y., 18 miles. This road was leased July 1,1871, in
perpetuity, to
Erie Railway, and now operated by New York Lake Erie A Western.

Rental, $34,012.

James Brackett, President, Rochester, N. Y.

Rock. Island Sc Peoria.—Owns from Rock Island, Ill., to Peoria*
Ill., 91 miles; Rock Island A Mercer Co. RR., 22 miles; total, 213 miles.
The Peoria A Rock Island was sold in foreclosure April 4, 1877,
the bondholders becoming the purchasers.
In year ending June 30,
1887, gross earnings were $457,606 ; net, $164,633; surplus over 5 per
cent dividend, $47,683; paid for construction and
equipment, $33,528.
Gross in 1885-86, $495,867; net, $113,008; dividend
paid, 5 per cent.
Rome Sc Carrollton.—Road completed from Rome, Ga., to Cedar
town, 22 miles, and projected to Cairollton,Ga.,l40m. Stock, $600,000

(V. 45, p. 401.)

Rome Sc Decatur—Road in
progress from Rome, Ga., to Decatur,
Ala., 145 miies, of which 25 miles from Rome are finished.
It is
bonded at $15,000 per mile standard
gauge road. The bonds were
offered in New York by Grovesteen A Pell.
(V. 45, p. 341, 438, 573, 614.)

Rome Watertown Sc Ogdensburg.—(See
Map.)—From Niagara
Springs, 301 miles; Lewiston Junction to Lewiston, 31*
miles; Syracuse to Handy Creek, 44 miles; Richland to Rome, 41 miles;
Watertown Junction to Cape Vincent, 24
miles; DeKalb Junction to
Ogdensburg, 19 miles; Rochester to Windsor Beaoli, 7 miles; Syracuse
to Oswego, 36 miles; Utica to
Ogdensburg, 134 miles; Carthage to Sacketts Harbor, 30 miles; Theresa Junction to
Clayton, 16 miles; total,
656 miles. The Utica A Black River road and branches were leased in
April, 1886, the R. W. A O. guaranteeing fixed charges and 7 per cent
per annum on the stock.
The R. W. A O. was a consolidation
Oct., 1861, of the Watertown A
Rome and the Potsdam A Watertown railroads. The Lake Ontario
Shore
Palls to Massena

acquired January 15,1875; the Syracuse Northern, Aug.
The Oswego A Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds.
The Niagara Falls Branch road was
leased Nov. 1, 1881, at 7 per cent on its stock of
$250,000.
In April, 1886, the inoome bonds were offered an
exchange of 40 per
cent in the 5 per cent consol, mort.,
due 1922, and 60 per cent in stock,
and the bonds have been about all
exchanged.
From Oct. 1, 1886, to Sept. 30,1887,
gr oss earnings, including the
Blaok River, were $3,138,448,
against $2,806,965 in 1885 6; net,
$1,412,446, against $1,222,840.
Earnings, expenses and charges in 1885-6 and 1884-5 were as below,
including the Utica A Black River for six months in 1885-6:
was

1,1875.

Gross

Ronds—Princi¬

Where Payable, and by

Q.—J.;

5
5
3

923,000
2,300,000
2,468,400
875,000
689,000
1,400,000
1,400,000
1,700,000
1,357,000

1,000

Georgia, $3,168,300 Western North Carolina
$3,168,300 pref.; $100,000 Knoxville A Augusta RR.,

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

6g.

2,02?',000

1,000,000

A Greenville RR., $49,000 Dan. Mock. A So. W. RR.. $300,000 Rich¬
mond A Mecklenburg RR., $103,900 Rabun Gap Short Line, $3,133,980 Georgia Pac. Railroad, $1,500,000 Wash. O. A West.; and the fol¬
lowing bonds: $100,000 Knoxville A Augusta 1st mortgage 6 per cents,
$368,000 Spartanburg A Asheville 1st mortg. 6 per cents, *$1,325,000
Western North Carolina 1st consol, mortg. and *$4,110,000 2d mortg.,
*$1,603,553 Virginia Midland 6 per cent Incomes, $315,000 Northeast¬
ern of Georgia general mortg., *$1,778,155 Georgia Pacific 2d incomes,
and $299,000 Blue Ridge RR., $4,100 miscellaneous county and
township bonds, $625,000 Wash. O. A West. 6 per cent income bonds,
$50,000 Georgia Pacific equip, trust bonds. Total securities owned as
above, $10,577,808 bonds, $9,697,933 pref. stocks and $24,801,063

Railroad

F. A A.

6
5
10
6
8
6 g•
5

1,000
1,000

f1,302,400
RR.,*$1,000,000
Charlotte
Columbia
A Augusta
$3,577,333 Columbia
Virginia
Udland Railway
(of which
$3,100,000
pledged),

—

75 cts.

1,500,000
1,500,000
400,000
700,000
446,000
628,000
400,000

485,000

Northeastern Railroad of
RR.

4,000,000

1,000

....

1886
1886
1881

Payable

7,000,000
1,680,000

500 Ao.

....

Cent.

4,600,000

1,000
1,000

....

When

$2,480,600

....

....

Rate per

Outstanding

Stock, preferred

Joseph d St. Louis—Stock

[VOL. XLV.

great favor by giving immediate notice of any error discovered in these
Tables.

DESCRIITION.
on

SUPPLEMENT.

1885-6.

earnings

Net income
Interest and rentals

$2,406,793
$941,244
693,480

1884-5.

$1,702,732
$563,141
547,692

Surplus for year
$247,764
$15,449
Charles Parsons, N. Y., President.
-(V. 43, p. 217, 218,245,488, 635, 747; V. 44, p. 91,119, 244,
752;
V. 45, p. 113, 212, 240, 401, 509, 540.)
Rutland.—Owns from Bellow’s Falls, Vt., to
Burlington, Vt., 12o
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been
through many changes. It was leased to the Cent. Vermont in Dec.,1870,
for 20
years, but the lessee became insolvent, and finally a modification
of the lease was made, giving $250,000
per year as a minimum rental
and $8,000 for organization expenses. The 5
rer cent 2ds are a first
mortgage on rolling stock and personal property. The annual report




under this title in 1880.

Preferred stock, $1,298,500; common
stock,
$2,550,000. In March, 1884, voted to issue the consolidated bonds,
of
which $600,000 are reserved to take
up its first mortgage bonds.
Operated by Boston A Lowell as its Vermont Division, and all but $41,000 of the 5 per cent bonds issued are held
by that company.
St. Joseph Sc Grand Island.—(Sec
Map
of JJn. Pac.—Line of road.
St. Joseph, Mo., to Grand Island, Neb., 252 miles: Fairfield
to Alma, 85
miles, total, 338 m. This company was organized in June, 1885, as suc¬
cessor of the St. Joseph A
Western, sold in foreclosur e, and includes also
the Hastings A Grand Island RR. and the
bridge at St. Joseph. The
road is operated by the Union Pacific,
which company guarantees the
interest on the first mortgage bonds.
In Sep tember, 1886, it was
proposed to begin the construction of branch roads, with bonds
at $15,000 per mile, as per circular in V.
43, p. 399. In 1886 gross
earniugs were $1,169,425; net, $506,962; def. under interest, Ac., $9,172. James H. Benedict, President, New York. (V.
43, p. 24, 133.275,
399, 431, 460. 548; V. 44, p. 23, 60, 185, 300, 466, 527; V. 45, p.

113; V. 45, p. 614, 6.3.) St. Joseph Sc St. Louis.—St. Joseph, Mo., to No.
Lexington.
76 miles.
This was the successor to the St. Louis A St.

Mo.,
Joseph

Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
a lease of the road, but in July, 1886, the road
went back to its owners.
Winslow Judson, President, St. Joseph, Mo.
-(V. 43, p. 103 ; V. 44, p. 149; V. 45, p. 614.)

City A Northern had

St. Louis Alton Sc Terre Haute.—Owns from Torre
naute,
End., to East St. Louis, 193 miles; proprietary line, East St, Louis to
Belleville, 14; leased lines—Belleville A Southern Ill. RR., 57; Belleville
A Eldorado road, from Du Quoin to Eldorado.
50; Belleville A Caron¬
delet RR., from Belleville to East Carondelet,
17; St. Louis Southern,
Carbondale to Marion, 50; total, 381 miles. This
company was a reor-

fanization,
he Bellev. A
Feb.
the toTerre
Haute Alton
A years
St. Louis
RR.
So. 18,1861,
Illinois is of
leased
this company
for 999
from Oct.

1,1866, and the Bellev A Carondelet for 933 years from Jan., 1383, at
rental of $30,000 per year, which is a
guarantee of int. on the bonds;
the stock of $500,000 is owned by the St. Louis A. A T. H. The St. Louis
Southern RR. and leased lines, 50 miles, was leased in
Deo., 1886, for
30 per cent of gross earnings, miuimum to be
$32,000.
The main
line (St.L. Alton A T. H.) was leased Nov.
1, 1882, to the new Indianap.
A St. L.
Railway and the Cleve. Col. Cin. A Indianapolis jointly. Under
this new lease the rent guaranteed is $450,000, and that amount is all
that is to be paid unless the gross
earnings exceed $1,750,000 in any
year ending Oct. 31, and then 20 per cent is to be paid of the excess of
gross earnings over $1,750,000.
The Belleville Branch and Extension are operated
separately by this
company. The Belleville A Eldorado was leased for 985 years from
July 1,1880, at a rental of 30 per cent on the gross earns., but $15,400
per year guaranted. The Belleville A Carondelet is leased at $30,000
a

per annum.
The Chicago

St. Louis A Paducah road Is leased for 980 years at 30

Ser
iterest.
cent of gross earnings, with guarantee of rental to pay 1st mortgage

Dec. 31,1886, sinking fund held of the first
mortgage bonds $636,000
and $434,519 cash. The preferred stock has a
prior right to a cumula¬
tive dividend of 7 per cent before any is declared on common. It is
also convertible into common at par; but shall not receive
any dividend
as common stock for the time it was held as
preferred. In Jan., 1881,
the company declared 3 per cent in cash on the"
preferred stock and
afterward settled the remaining 55 per cent of accumulated dividends

by the issue of income bonds.
The annual report for 1886 was in V. 44,
p. 550.
The Cairo Short Line Division,
including the roads directly
by this company, made the following exhibit:

operated

EARNINGS. EXPENSES AND RENT OF LEASED LINES.

1883.

1884.

1885.

1886.

$832,468
8..
Oper. expen. and taxes..
425,635

$741,050
406,160

$766,316
397,347

$803,991
408,896

$406,833

$334,989
203,971

$368,969

$395,095
214,482

..

..

Net revenue

—(V. 43.

p.

203,381

$205,935
$131,018
$165,587
719; V. 44, p. 550, 752; V. 45, p. 166, 273.)
..

$180,613

November, 1887.]




RAILROAD

STOCKS

AND

BONDS

99

Subscribers will confer a great

notes

Date
Miles
Size, or
Par
of
of
Road. Bonds Value,

135
135
1 316

St. Louis Keokuk <& N. W.- 1st mortgage, gold
Income bonds
8t. Louis dt San Trancisco — Stock, common

1876
1876

Amount

Outstandiug

cumulative
gold, (laud grant)...

Equipment mortgage, gold
Mortgage on Mo. A Western RR., gold
Collateral trust bonds, gold
St. Louis Wichita & West, 1st mort, gold, guar...
Gen. M., gold, coup, or reg (a 2d M. on 293 miles)
Equipment Trust
Kansas C. & Soutliw.. IstM., gold ($12,000 p. in.).
St. L. Kan. & S. W.f 1st M., g. guar.($15,000 p. m.)
Ft. Smith & Van Bur.B’dge, 1st mort.. gold. guar.
St. Louis Salem A Arkansas—1st mort., guar
St. Louis Southern— 1st mortg., gold
2d mortg. income, non-cumulative
St. Louis Vandalia <£• Terre Haute—1st M. 8. f. guar.
2d mort., sink, fund ($1,600,000 guar.)

St. Paul dt Duluth—Preferred 7 p. c.
Common stock
1st mort. bonds, coup, or reg

stock A scrip.

Taylor’s Falls & Lake Sup., 1st mort., op.,guar—
Duluth Short Line, 1st mort., coup., guar

293
293
293
293
-

84
100
145
364
63
55

33
33
158
158
225
225
169
21
25

1868
1876
1876
1876
1880
1879
1880
1879
1881
1884
1886
1886
1885
1887
1886
18-6
1867
1868

1881
1884
1886

500
100
500
500

Ac.
Ac.

the Texas road to Gatesville,

Ac.

2,400,000
651,000

1,000
1,000
1,000

1.600
1,000
1.000
]

,660

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

1,000

305 miles; total, main line, 723

McNeil

branch, 115 miles; Tyler to Lufkin, in
940 miles. Branches and extensions are
opened in 1883. The road in Texas was
road
foreclosed December 1, 1885. llie Missouri A Arkansas Division was
sold on Feb. 27, 1886. The present organization, wnicn was formed in
1886 after the foreclosure of the Texas A St. Louis, consists of two
corporations, the one owning the road in Missouri and Arkansas and
the other the road in Texas. The stock issued by the Missouri and Ar¬
kansas Company was transferred to the Texas Company, which latter
has issued its own stock for the same. Till 1891 the control of the en¬
tire road is to be vested in the committee, and for this purpose the stock
is deposited with a trust company. For stock so deposited negotiable
certificates are issued, and designated as “stock trust certificates.”
In October, 1887, the cosolidation with the Little Rock andShreveport
to Magnolia, 7 miles; Sherman
Texas. 90 miles; total, Aug. ’87,
In progress. The
was

branches was

perfected.

1,090,000
1,224,000
2,000,000

and

Paw Junction to New Madrid, 6 miles;

500,000

2,766,500

St. Louis Arkansas & Texas.—(See Map.)—Road fmm Birds
Point, Mo., opposite Cairo, Ill., to Texarkana, Tex., 418 miles,

miles; branches, Paw

1,080,000
11,845,900
9,768,400
4,500,000
7,144.500

Ac.

1,000

bonds

The new companies issue six per cent 50-year first mortgage
to amount of $13,000 rer mile; six per cent 50-year second mortgage
bonds $13,01 0 per mile, the first coupon payable Aug. 1,
stock $13,000 per mile.
Bonds and stock on extensions are au¬
thorized at the same rate.
The first mortgages of the companies
in Missouri A Arkansas and in Texas are deposited with the Central
Trust Co.; the 2d morts. borli divisions are deposited with the Mercan¬
tile Trust Co., and each of these trust companies has issued against
these mortgages so held its coupon trust certificates for $1,000

Rate per

When

Cent.

Payable

7 g.
7

$1,620,000

$1,000
1,000

Preferred, 7 per cent, not cumulative

thence by

Bonds—Princi¬
pal/When Due.
Where Payable, and by
Stocks—Last

INTEREST OR DIVIDENDS.

explanation of column headings, Ac., see
on first page of tables.

1st preferred, 7 per cent, not
let mortgage (South Pacific),
2d mortgage bonds, A, gold
do
do
B, go;d
do
do
C, gold

[Vol. XLV.

notice oi any error discovered in these Tables.

favor by giving immediate

DESCRIPTION.
For

SUPPLEMENT

INVESTORS’

lOO

12,739,000
349,000
744,000
835,000

J.
J.

Jan.
Jan.

A J.
A J.

g.

g.

g.
g.

g.
g.

g.
g.

g.
0 g.
6 *.
5
4 g
5
7
7

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

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

184-56

1, 1906
31.

1887

Y., Office 15 Broad St Aug. 10, 1887
do
do
July, 1888
do
do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do
do
do
do

J
8.

Nov.
Nov.
Nov.
June

1. 1906

1,

1906

1.
1,

1906
1895

Aug. 1, 1919
Aug., 1920
Sept., 1919
July 1 1931

do

do
O.
J.
810,000
S. N. Y. Sc. L. A. AT. H.Cc.
550,000
do
do
8.
525,000
J. N. Y., Central Trust Co.
1,899,000
N. Y.. Third Nat. Bk.
N.
2.600.000
J. N. Y., Fourth Nat. Bk
3*2
5,376,970
do
do
6,000,000 3 A 15 st
F. A A. N.Y., Central Trust Co.
5
1,000,000
do
do
J. A J.
6
210,000
do
do
M. A S.
5
500,000

475,000

1, 1906

Oct.

2 *s

3*2
6
6
6
6
7
6
6
6
5 A 6
6
6

Dividend.

Whom.

-

A.A0.5p.c. ea.
Jan. 1, 1916
Sept. 1, 1916
April l. 1910
Jan.

1, 1937

Sept. 1, 1931
Sept. 1, 1931
Jan. 1,

1897

May 1, 1898

July 5, 1887
July 5, 1887
Aug. 1, 1931
Jan. 1, 1894
Sept. 1, 1916

The bonds are redeemable ou notice at 110. The stock
(Ark. City to Caldwell, Kan., 47 m.) is owned and
the bonds guaranteed.
In 1886 the St. Louis Salem A Arkansas road, 55 miles, was acquired,

mortgage bonds.

of ihe St. L. K. AS. W.

and its

bonds guaranteed.

Stocks and Bonds.—The first preferred stock has prior right to 7 per
cent (non-cumulative); then pref. entitled to 7 per cent; then common
entitled to 7; then all classes share in any surplus.
The terms of
the preference of the first preferred stock are stated in the certificates
as follows: “This stock is entitled to a dividend of 7 per cent per
annum

from net revenues from all sources
(remaining alter the payment of interest upon all
and by resolution of the company has priority of lien

derived by the company

each current year

liabilities)

*

*

*

dividend over any mortgage bond that may be
issued by the company subsequent to the creation of this stock.”
“Net Revenue” in this clause is defined by the company as meaning net

on

net revenues for such

re\ enue

remaining after the payment of interest on all

Dividends have been paid on
at 7 per cent per annum.
The range

liabilities.

first preferred stock in 1881 and since

of the stocks yearly since 1877 has been: First

preferred in

$1,829,058; net, $340,67o. (V. 43, p. 50, 103,
44, p. 91, 149, 459, 654, 681, 808; V. 45, p. 85,
211,512,540,643.673.)
St. Louis & Cairo.—This road extends from Cairo to East St. Louis,
152 miles, with a branch to High Prairie, 9 miles. The former Cairo A
8t. Louis made default April 1, 1874, and w as sold in foreclosure July,
1881. Stock is $6,500,000.
In Jan., 1886, a lease was negotiated for
45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per

1878(4 months), 5*2@11%; in 1879, 9%®78V in 1880. 603/100; in
1881, 903)115^; in 1882, 79%@106Ls; in 1883, 87@100V in 1884,
703/9612; in 1885, 79 399V, in 1886,97311812; in 1887 to Nov. 18, in¬
clusive, 1073120.
Preferred stock in 1878, II23514; in 1879, 4i8360i2; in 1880. 333
65; in 1881, 55®81%; in 1882, 43366^; in 1883,4035912; in 1884,
2412350; in 1885, 3034978; in 1886, 37123723s; in 1887 to Nov. 18,
fncliifive, 6112 384V
Common in 1878 (3 months;,
in 1879, 31$353; in 1880, 25H
348; in 1881,39355; in 1882, 3134078; in 1883. 20Va>36% ; in 1884,
1112329V in 1885, 17*23/241*; in 1886, 17336%; in 1887 to Nov. 19,
inclusive, 30344%.
The trust bonds of 1880 are secured by deposit of 7 per cent
mortgage bonds of the auxiliary roads constructed. The general
mortgage of 1881 (supplemented by that of June, 1882) for $30,000,000
is made to the U. 8. Trust Co. as trustee, and $17,261,000 reserved
to take up all prior debt.
This general moi tgage is a first lien on new
road, besides covering the mileage on which are the prior liens, and
$5,000,000 of 5 per cents issued under this mortgage in 1886 were for
the construction of 185 miles road, including the line from Fort Smith,

cent

Ark., to Texas.

1889; and

each,

entitling the holder of each class to the security of the mortgages on
both the Mo. A Ark. and the Texas divisions. These are the certificates
dealt in at the Stock Exchange. Abstract of mortgages, V. 45. p. 644.
In 1886 gross earns, weie

275, 459, 488, 608; V.

C5064o) of the gross revenue of the wThole
Louis, this rental being guaranteed by the lessee to

per year.

The issue ol $2,600,000 income

line, Mobile to St.
amount to $165,000

bonds waste be retired with

part of the $4,000,000 mortg. bonds, wThich are guaranteed by the M. &. O.
St. Louis Sc Chicago.—Owns from Springfield to Litchfield, Ill., 50
miles: to he extended in 1887 to Pekin, III., 10 a junction w ith the new
Atchison line, with which line it will work in close harmony. From
Litchfield to St Louis tiains run over tlie C. C. C.A I. Lacks under a
traffic agreement. The road is reported aR costing $14,000 per mile,
while the bonds are issued at $10,000 per mile. F. C. Hollins & Co.,

negotiated the bonds.
Hannibal.—Ow ns from Hannibal, Mo., to Gilmore, on
Wabash St. Louis A Pacific, 82 miles; nses 2L> miles Missouri Pacific
track; total operated, 84l. miles. This company is successor to the
former St. Louis Han & Keokuk, sold in foreclosure Dec. 8, 1885. The

N. Y.,

St. Louis A:

grincipal
New York,
ow ners
whowere
became
Mr. the
Johnpurchasers.
the estate
stock isof$1,000,600
Moses Taylor
I. Blair andThe
au¬
i

thorized and $452,000 issued.

operating expenses, $216,049;

Gross earnings in 1885,

$106,969;

deficit. $109,081. Gross earnings iu ’86

$121,367; net, $30,130; surplus over interest, $4,230; John I.
Blair, President.
St. Louis Keokuk Sc Northwestern.—Owns from Keokuk,
la., to St. Peters, 135 miles; leases Keokuk to Mt. Pleasant, 49 miles.
This road w as foreclosed October 19, 1887, and bought in the interest
of Chicago Burlington A Quincy.
(V. 44, p. 782 ; Y. 45, p. 473, 540.)
St. Louis Sc San Francisco.— (See map.)—Line of Road—This is
A considerable system of railroads, forming part of a through route to the
Pacific coast. The maiu liue is from St. Louis, Mo., to Seneca, 326 miles;
branches—Granby branch, 2 miles; Oronogo, Mo., to Galena, 18miles;
Girard to Joplin, Kan., 38 miles; Carbon Branch, 3 miles; Pierce City
to Halstead, Kan., 242 m.; Monett, Mo., to Paris, Tex., 301 m.; Springfi’d
to Chadwick, Mo., 35 nn; Springfield to Bolivar, Mo., 39 m.; Cuba Juuet’n
to Salem and branches, 54 m.; total owned, 929 miles; leat*ed, Beau¬
mont to Bluff City, Kan., 105 miles; total, 1,204 ini!os; the tracks of
the Atchison Topeka & Santa Fe are used from Wichita to Halstead, Kan¬
sas, 25 miles.
This company also operates the finished portion of the
Atlantic A Pacific road. Central Division, from Seneca. Mo., to Sapulpa,
in the Indian Territory. 112 miles; total operated, 1,316 miles.
Organization. Ac.—This company w as organized Sept. 20, 1876, a.*successor to the Atlantic A Pacific iu Mo. The latter embraced the South
Pacific RR. (originally the Southwest Branch of the Pacific RR. of Mo.,
chartered Dee. 25, 1852), which was consolidated with the Atlantic A
Pacific road Oct. 25, 1870. The Atlantic A Pacific road and lauds were
sold in foreclosure Sept. 8. ls76, and the St. Louis A 8an Francisco
were

became possessor of the property.
This company is jointly interested

in tlie Atlantic A Pacific RR. with

the Atch. Top. A Santa Fe, and guarantees one-half tlie 1st mortgage
bonds severally, net jointly.
In January, 1886, lo.ised for 99 years tlte Kansas City & Southwest¬

RR., from lieauim nt. Butler County. Kansas, to Calc, iu
County, 62 miles, at a rental guaranteed to pay the interest on

ern




Cowley
the 1st

*

The 8t. L. Kan A So. Western bonds are issued at $15,000 peT mile, and
are redeemable ai 110 on any interest day, at four weeks’ notice.
The Fort Smith A Van Buren Bridge bonds are guaranteed by the 8t.
L. A S. F. Co., and have a sinking fund of 5 per cent yearly after 18?9

to purchase the bonds at 105; they are redeemable also at 110 at co.’s
option. The land department assets wrere estimated Dec. 31, 1886, at
$771,531, including 138,756 acres of land valued at $3'6,604, 1,263

lots valued at
591 cash.

town

$35,890, $256,447 iu land contracts and $120,

Operations, Finances, Ac.—The St. Louis A San Francisco has been
of the successful reorganized railroads of the Southwest, and has

one

good progress in traffic and income, without very heavily increas¬
ing its annual interest charges.
The annual report for 1886 was in V. 44, p. 619, 622.

made

Receipts

Gross

INCOME

earnings

Total net income
Disbu rsemen Is—
hit., sink. fd. A1 cuts
Divs on 1st pf stock.
Rate of dividends..
miscellaneous

1886.
$

1884.

1885.

$

$

3,896,565
2,073,437

$
4,643,596
2,508,218

4,383,406
2,433,662

4,‘•74,628

24,376

14,836

19,782

159,619

2,09",813

2,523,054

2,453,144

2.811.951

1,343,436
315,000

1,826,203

1,751,215

315,000

315,000

1,950.323
315,000

-

Net earnings
Oilier receipts

ACCOUNT.

1883.

7

7

7
242

11,004

2,652.332

7

5,974

4,732

Total disbursem’ts
2,070,947
2,271,297
2,141,445
1,669,440
3s 1,609
540,‘;54
382,497
428,373
Balance, surplus...
-(V. 43 p. 24, 571. 579. 608; V. 44, p. 204, 435, 459, 466, 551, 604,
.

619, 622, 654; V. 45 p. 54.)
,

Pinckney ville, Ill to Carleases Carboudale A Shawneetown road to
operated, 501* miles.
This comp-ny was
successor to several others foreclosed.
On
for 980 years *»> the St. Louis Alt. A T. II., at
a rental of 30 per cent gross earnings, and a guarantee of interest on
1st mortgage bonds.
St. Louis Vandalia Sc Terre Haute.—Owns
from East St.
Louis to Indiana State line, 158 miles. Road opened July 1, 1870.
It is leased to the Terre Haute A Indianapolis Railroad at a remal
of 30 per cent of gross earnings.
In July, 1887, suit was ' rought by
Peun. RR., ownrr of a majority of the stock, to annul the b asel
For
the year ending October 31,1886, rental was $443,499, and charges were
$370,691, leaving a surplus of $72,>*08. In operating this road the loss
to lessee lias been m 1882-83, $115,399; In 1883-84, $71,549: in
profit $39,169; in 1885-ts profit $23,687. The annual report for
was published in the Chronicle, V. 44, p, 148.
The first mort
St." Louis Southern.—Owns road from

bondale, Ill., 33 miles, and
Marion, 17*2 miles; total
organized Aug. 3, 1886. as
Dec. 1, Is 86, made a h aso

,

•'n'

MAP OF THE

i

ST. LOUIS & SAN FRANCISCO

j

AND ITS CONNECTIONS.

RAILWAY

H,_ %. '‘v.

CONTINUATION
OF THE

ATLANTIC St PACIFIC




RAILROAD
AND CONNECTIONS.
Reduced Scute.

+

O^f

^■••HfS ■{ V~C

-

■*^?»/<«*',W«MTr*i*».f*'i

wv ‘ ■nWs?

v„-r

'*.<«i I*fi*•

r

h-~-**/ • i-’-nTTrnrTiTnimr'T^miwiMiiif

jrr nifrjTiftn




102
-

INVESTOR’

SUPLEMNT.

RAILROAD

November, 1887.]

Subscribers will confer a great favor
DESCRIPTION.
on

first page

St. Paul Minneapolis A

Date
of
Road. Bonds

2,611

Manitoba—Stock

76
656
656
473

grant sinking fund, gold

1862
1879
1879
1880
1883
1887
1882

Dak. Ext., 1st mort., gold ($12,000 per mile)
Consoi mort.,gold ($13,344,000 are 6s). cp. or reg. 2,201
280
1st M.,g., Montana Dlv. (for$25,000,000)...c*&r

Minneap. Un. RR.. 1st M., gold,guar.($3,000,000;
St. Paul A No.Pae —Stock ($10,000,000 authorized)
Gen. M., gold, Id. gr., coup, or reg. ($10,000,000)
Western RR., Minn., 1st mortgage, RR
San Antonio A Aransas Pass—1st mort., gold
1st M., Men. ex., g. ($12,000 p.m.), ied’rn at HO.o
Sandusky Mansfield A Newark—Re-organized stock
1st mortgage, new
,
Savannah Dublin A Western -1st m , $15,000 p. m.
Savannah Florida A West. -At. & G. consol, mort..
South Georgia & Florida, 1st and 2d mortgages...
Say. Fla. & W., 1st mortgage
Savannah Orifiln A N.Ala.—1st mortgage
SohenectadyA Duanesburg— 1st M., guar. D. & H .

Schuylkill Valley—Stock

'.
Scioto Valley— 1st mort. (s. fund $13,000 per year).
2d mortgage (sinking fund, $5,000 per year)
Consol, mortgage

1.52
152

Amount

Par

Outstanding

Value.

*60ifl
150
217
116
116
30
286
58
525
60
14
19
98
98
124

•

5

80

($244,800 is pref.)...*.

r

81

c*

Mortgage for $2,500,000

•

loo

•

1,000

1,000

1,000

1,000
50

....

1,000

1869

1886

....

1867

500 Ac.

1869
1884
1871
1874

1,000
1,000

....

1876
1879
1880
.

Equipment bonds

Seaboard A Roanoke—Stock
Debentures

•

l,000Ac
1,000

^

1,000
lOOAc.

50
500Ao.

1,000
1,000
....

m

....

1886
1886

100
100 Ac.

1,000

and $1,000,000 of second mort. bonds are guar, by the lessees and also
by the Pittsb. Cin. & St. L. RR. The stock is $2,379,358 common and
$1,544,700 pref. In 1884-85 gross earn’s were $1,372,648 ; net, $450,963. In 1885 6, gross, $1,478,330; net, $467,186. Thos. D. Messier, Pres.,
Pittsburg, Pa. <V. 44, p. 91, 148, 714 ;V. 45. p. 45, 85,113, 540.)
St, Paul Sc Duluth,—Line of Road.—St Paul, Minn.,to Duluth,
Minn., 155 miles; branch to Knife Falls, 6 miles; leased: Stillwater &
St. Paul RR., 13 miles; Minneapolis & Duluth RR., 13 miles; Taylor’s
Falls <fc Lake Superior, 21 miles; Grantsburg Branch, 17 miles; total,
225 miles. Between Northern Pacific Junction and Duluth, 24 miles,
the road is owned jointly with the Northern Pacific.
The Duluth Short Line road from Thomson to Duluth, 25 miles, is
leased to the St. Paul & Duluth, an 1 the bonds of $500,000 guaranteed.
This was the Lake Superior & Mississippi RR., opened August 1,
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875,
and road sold in foreclosure May 1, 1877, and this company organized

June 27. The preferred stock is received in payment for lands at par.
Three shares of common stock have one vote and each share of pre¬
ferred has one vote. Preferred stock has a prior right to 7 per cent;
then common to receive 6 per cent from net earnings.

Important propositions were voted on at annual meeting June 20,
1887. (See V. 44, p. 809.) A dividend of 3 per cent in cash and 15
per cent in common stock was paid on common stock in July, 1887.
The company has a land grant, of which 1,151,495 acres remained un¬
sold Dec. 31,1886, and 69,680 acres of the Taylor’s Falls Branch. In
’86 land and stumpage sales amounted to $163,057, anddef’d payments
(land accounts) Dec. 31, 1886, were $314,001. Gross earnings and
net income on railroad only, after deducting all fixed charges, wTere as
below, but in 1886 $568,315 and in 1885 $167,186 for ‘-improve¬
ments ” and “ betterments” was charged in oper. expenses, while in prior

improve’ts had bi en charged to “ cost of road and equipment.”
Gross earns. Net inc’me |
Gross earns. Net inc’me.
$50,249 1884
$732,630
$1,317,314 $398,091
1,109,840
261,246 11885
1,381,212
328,610
271,186 | 1886
1,328,527
1,558,085 def. 14,529
A summary of the report for the year ending June 30, 1887, was in V.
45, p. 3 41, showing total net receipts, including land sales, $975,359.
—(V. 44, p. 621,682, 714,717,753,809; V. 45, p. 85,143,341.)
St. Paul Minneapolis Sc Manitoba— (See Map).—Owns from St.
Paul, via Barnesvilie, to Emerson, 392 miles; Minneapolis to Gretna
Via Breckinridge, 413 m.; Minneapolis to Hinckley via St. Cloud, 132
m.; St. Cloud to Willmar, 55 m.; Elk River to Milaca, 32 m.; Botti¬
neau Branch, 39
m.; Sauk Centre to Eagle Bend, 36 miles; Fergus
Falls to Pelican Rapids. 22 miles; Crookston Junction to Minot, 231
miles; Shirley to St. Hilaire, 22 miles; Wayzata to Spring Park, 0
miles; Morris to Brown’s Valley, 47 miles; Breckenridge to Park River,
168 miles; Everest to Portland (via. Mayville). 50 miles; Ripon to Hope,
30 miles; Moorhead to Halstad, 34 miles; Tintah Junction to Ellendale, 104 miles; Rutland Junction to Aberdeen, 64 miles; Hutchinson
Junction to Hutchinson, 53 miles; small branches, 5 miles; total oper¬
ated June 30, 18*^7, 1,935 miles. Newlines not included in the foregoiog,
Minot to Great Falls, 5*0 miles; Evansville to Tintah Junction, 33 mi’es;
Benson to Watertown, 93 miles. Total mileage Nov. 1,1887,2,611 miles.
This
company was organized May 23, 1879, under the charter
of the St. Paul & Pacific Railroad, and embraced the St. Paul A Pacific
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red
River Valley Railroad, and the Red River A Manitoba Railroad. The
company had a land grant of 3,848,000 acres, and acquired the Min¬
neapolis & St. Cloud RR. grant, 476,864 acres. The proceeds of land
sales are reserved by the first mortgage trustees as a sinking fund for
the redemption of the bonds at or under 105 and interest, and bonds
are called in yearly so far as the funds are in hand.
The second mort¬
gage bonds do not cover the land.
The land sales for year ending June
30, 1887, were 62,632 acres for $407,115, and 181 town lots for $10,854. The net amount due on land contracts June 30,1887, was $191,894, beariDg 7 per cent interest; lands unsold, 2,690,435 acres.
linking fund June 30, 18-7, applicable to redemption of 1st mortgage
land gi ant bends was $' 63,264, of consolidated bonds, $20,624.
The Dakota Extension bonds are issued at $12,000 per mile. The
authorized amount of consolidated mortgage bonds is $50,000,000, of
which $19,426,000 were reserved to pay prior liens, and the balance
may be issued for new road at $15,000 per mile single track or $27,000
years

pal, When Due.,

Rate per

When

Cent.

Payable

Where Payable, and by
Whom.

Q.—F.

N.Y., 40 Wall St.

$100 $20,000,000
1,000
366,000
100 Ac.
4,991,000
1,000
8,000,000
1,000
5,676,000
1,000
23,444,000 41«

1883
1877
1885
1886

Bonds—Prim i-

INTEREST OR DIVIDENDS

Size, or

1328 m.;
1st mort. land
2d mort., gold

103

AND BONOS

by giving Immediate notice of any error discovered In tbese Tables.

Miles
of

of tables.

SI OCRS

I1*
7
7 g.
6 g.
6 g.
& 6 g.
4 g.
6 g.

Nov.

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

&
A
&
A
&
&
&

J.
do
do
J. New York and London.
O.
do
do
N.
N. Y., 40 Wall St.
J.
do
do
D.
do
do
J.
do
do

A.
J.
M.
500,000
J.
576,050
7
J.
1,294,000
7
A.
283,000
7
553.000
J.
7
82,000
M.
1,302,800 5 on com. M.
6
F.
690,000
5
J.
298,000

&
&
&
&
&
&
&
&
&
&
&

0.
J.
8.
J.
J.
O.
J.
N.
N.

7,000,000
2,150,000
5,000,000
6,300,000
438,000
1,750,000
2,598,000
1,068,832
2,300,000
450,000
1.730,500
664,000

2,188,000
500.000

l*s
6 g.
7
6 g.

6g.
3
7
6
7
7
6
7
6

Stocks—Last
Dividend.

1, 188T"

Julf,o1892

1, 190*
1910
July l, 1939
June 1, 198T
July 1, 1922;
Oct., 1887
Q.-J. N.Y., Winslow, L. & Co.
Feb. 1, 1929
F. & A.
do
do
M. & N.
do
do
May 1, 1907
J. & J. N.Y.,S.M.SwensonASon Jan. 1, 191®.
J. & J.
do
July 1, 192®
Moss N. Bk.,Sand’ky,0. Feb. 1, 1886
J. A* J. N. Y.. Union Trust Co.
Jan., 1909
J. & J.
Jan. 1,1916
Philadelphia, Pa.
J. & J. N.Y.,H.B.Plant,ASavan
July, 1897
M. & N.
do
do
May 1, 1890
do

Oct.

Nov. 1,

April 1, 1934

do

Savannah, Cent. RR.Bk

July 1. 189 k

Del. & Hud. Canal Co.

Sept. 1, 1924
July 13, 188T

Philadelphia, Office.
Last paid July, 1834.

Jan. 1, 1896
paid April, 1884. April 1, 1894
July 1. 1910
paid July, 1884.
N.Y., Winslow, L. & Co.
Balt.,Farm.&Plant. Bk. Nov. 1, 1887A.
Portsmouth, Va.
Aug., 1916
1926
J. New York, Balt. A Phila.
Last
Last

INCOME ACCOUNT.

Receipts—

1883-84.
$

1884-85.

1885-86.
$

Net earnings
Rev.from L’ndDep’t
Other receipts

4,327,478

$
4,266,237

418,270
214,434

131,292
66,284

Total income
Disbursements—
Interest on debt....
Dividends
Rate of dividend....

4,960,182

4,463,813'

....

Sinking fund
Irnp’ts & renewal fd.

$

1,949,690
1.600,000
8

413,270

$
1,980.200
1,300,000

3,483,084
350,114
171,116

4,004,314
$
1,999,820

.1,200,000

6*2

131,292

1886-87..
$

3,713,553'
415,782
514,447
4,643,782
$
2,170,409
1,200,000
6

6

350,114

381,545

415,782
600,000

4,386,191
3,549,934
3,411,492
Tot. disburse’ta..
4,349,505
454,380
257,591,
1,052,321
610,677
Balance, surplus....
-(V. 44, p. 402, 681; V. 45, p. 55,240, 257, 342, 471,510,512.)
St. Paul Sc Northern Pacific.—Line of road Brainerd to Minneap*
oils, 139 miles, and branches to St. Paul, 10 miles; total, 149 miles..

RR. Co.
completed July
The
terminal improvements at Minneapolis are on 20 acres in the business,
centre of the city, and for similar purposes in and about Minneapolis and

This company was incorporated in 1874 as the Western
of Minnesota; from Sauk Rapids to Minneapolis was
l, 1884. and from Minneapolis to 8t. Paul, February 1, 1886.
St. Paul, a total of 400 acres is owned.
The land grant of the
is located along the line of the road between
and about 210,000 acres remain unsold.
The laud proceeds

company

San Antonio Sc Aransas Pass.—Road extends from San
to Aransas Bay, Texas, 150 miles, and Gregory to Corpus

Antonia

Brainerd and Sauk Rapids,
are firsi
applicable to redemption of West. Minn, bonds, and then to the redemp*
tion of the Gen. Mort. bonds, if obtainable at 120. The road, with itsterminal property, is leased for 999 years to the Northern Pac. at a net
rental equal to 40 p. c. of the gross receipts, but the bonds are guaran¬
teed principal and Interest. The stock is placed in trust with Farmers*
L. & T Co., the power to vote being held by Northern Pacific Company;
but “beneficial certificates” entitling holders to dividends are issued.
The registered interest on the gen. mort. is pay aide quarterly—Feb..
May, Aug. and Nov. (V. 44, p. 22,90; V. 45, p. 401, 438.)
Christl, 13
Sau Antonio to Boorne, 32 m.—total

Kenedy to Cuero, 43 m.;
completed, 238 miles. Extensions are in progress.
The mortgage first given above covers the 150 miles from S in Antonio
to Aransis Bay. The bonds after that are issued at $12J>00 per mile on
new road completed.
The Farmers’ L. & Tr. Co., of N. Y., is tiustee of
both mortgages. Abstract of 1st mort. ou exten-ions in V. 45, p.372.
Capital stock issued, $2,617,200. In the thirteen months to March 1,
1887. on an average of 78 miles, gross earnings w*re $205,183; net,
$116,968; surplus over interest, $60,833. U. Lott, Pres’t and General
Manager. (V. 44, p. 495, 751, 809; V. 45, p. 372, 509, 512.)
Sandusky Mansfield Sc Newark.—Owns from Sandusky, O., to
Newark, O., 116 miles.
A consolidation of several roads in 1856.
Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
& Ohio, and new lease made February 23,1880, extending to December
1,1926, with option to the Balt. & Ohio Company to renew for terms
of 20 years each. Rental was $194,350 yearly
in 1884 and 1885; now $201,850 annually.
It
Erie division of the Baltimore & Ohio system.

till 1884; $199,350
is operated as Lake

In 1885-86, gross
1884-85, gross, $817,785; net, $119,919.
Savannah Dublin Sc Western.—Road in progress from Savan¬
nah to Amerious, Ga., and branch to Macon. 253 miles. Stock, $2,000K000, $15,000 per mile. A. B. Linderman, Philadelphia, President.
Savannah Florida Sc Western.—Owns from Savannah, Ga., to
Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to Bainbridge, 9 miles; extension to Savannah wharves, 1*70 miles; Junction
Branch, 4 miles; Dupont to Gainesville, 118 miles; Thomasville to
Albany, 58 miles; Waycross to Jacksonville, 75 miles; Fort White,
Fla., to Lake City, Fla, 20 miles; total, 545 miles.
This was a
consolidation in 1865 of
the Savannah Albany A Gulf Rail¬
road and the Atlantic & Gulf under the latter name.
The Atlan¬
tic & Gulf road was sold in foreclosure of the second mortgage
November 4, 1879, subject to the consolidated mortgage and
Sirinneapolis
mile doublefortrack.
The Minneapolis
Union stations
RR. is a and bridge over on
other prior liens amounting to about $2,465,000. The present compassenger
service including
the Miss River, and its stock of $1,000,000 is held in trust and is covered
ands has
capital stock
are paid as earned; in March, 1886, 3*2 per cent
and adividends
by the lien of the St. P. M. & M. consol, mortgage. The fifty-year 4 per Eany
cent bonds were issued for the extension from Dakota to Great Falls, paid; in March, 1887, 2 percent. The earnings in 1885 were $2,461,613
Montana, about 450 n lies. The bonds are limited to $25,000 per mile gross and $468,799 net; fixed chargee, $300,279; surplus, $164,356.
on ioad and equipment, (and $15,0U0 per mile for second track), and
En 1886 gross earnings, $2,557,817; net, $434,741; surplus over inter¬
the mortgage (Central Trust Company of New York, trustee) is for an
est, etc., $96,489. H. B. Plant. Pres., New York. (V. 44, p. 344.)
authorized amount of $25,000,000 to provide for future extensions an 1
Savannah Griffin Sc North Alabama. Owns from Griffin.
branches. (See abstract of mortgage in V. 45, p. 342.)
Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
Fiscal year ends June 30. Report for 1886-87 in V. 45, p. 471, 512
Railroad of Georgia. Capital stock, $1,011,245. In 1885-86 gross earn¬
1886-87.
1885-86.
1884-85.
1883-84.
ings $62,518 ; deficit, $3,083. In 1884-5, gross, $58,841; net, $6,244.
1.935
Miles
1,471
1,509
$1,013,014; net. $303,711; In

short line through

of $5,340,300, which is held in very few

operated.

1,397

-(V. 45, p. 54.)
Schenectady Sc Dnaneibars,-From Quaker Street Junction,
N. Y., to Schenectady, N. Y., 14 miles. Formerly Schenectady & Su»quehanna Railroad, and was foreclosed in 1873; reorganized and leased;

$

8,256,868
3,929,390

$
7,776,164
3,500,927

$

Gross earnings
Oper. exp. & taxes..

7,321,736
3,838,652

8,028,448
4,314,895

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

4,327,478
47*59

4,266,237
45 13

3,483,084
52*43

3,713,553 in perpetuity to the Delaware & Hudson Canal Company. Lease rental,
$30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
53*74




104




INVESTORS’

SUPPLEMENT.

[Vol. XLV.

RAILROAD

November, 1887. J

Subscribers will confer a great

Miles

explanation of column headings, Ac., see notes
on first page of tables.

Date
of
of
Road. Bonds

Seattle Lake S. db East.— 1st M., g., $25,000 per m..
Shamokin Sunbury <t Lewisburg—1st mort., coup.
2d mortgage
Shamokin Valley <& Pottsville—Stock, guar
1st mortgage, gold, on road and lands
Shenandoah Valley— 1st m (Hag. to Waynesbo.)—
General mort., gold
3d mortgage income bonds, registered, non cum..
Car truss certificates

Sheffield <& Birmingham—1st M.,g. ($15,000 p.m.)c&r
2d mort. ($10,000 per mill*)
Shore Line (Conn.) -Stock
1st mortgage
Shreveport dkHouston—1st, g. guar, by H. E. A W. T.
Silver Springs Ocaladk Qulf— 1st M, g, ($13,000 p.m.)
Somerset—1st mortgage, gold
South Garolinar— Stock
1st mortgage, sterling loan
1st consol, mortgage (for $5,000,000)
2d consol, mortgage
Income

mortgage bonds (not cumulative)

South Florida= 1st mort. ($12,000 per mile)
So. db No. Alamma— 1st M., endorsed by Alabama.

Sterling mort., s. fund, guar, by L. A N

2d mortgage bonds (owned by
New bonds (for $10,000,000)

L. A N.)

South Pacific Coast—Stock
South Pennsylvania—Stock (for $20,000,000)
1st mortgage (lor $20,000,000)
Southern Cent. (N. f.)—Consol, mort. convertible

Southern

AND

BONDS

40
31

*29
28
144
254
254

Size, or
Par
Value.

1886
1882
1884

Outstanding

$1,000
1,000

1,000

$1,000,0 0
1,000,000
500,000
869,450
2,000,000
2,270,000
3,994,000

1,000

1,590,000

1,000
50
500 &c.

187i

1,000

1880
1881
1883

Rate per
Cent.

lg'

20,109
1,350,000

When

90
50
50
40

‘*25
247
247
247
247
247
132
181
183
183

1886
1886

ii*4

1,000
1,000
100
lOOOAc.

1881
1885

1,000
1,000

1871

i868
1881
1881 j
1881
1885 !
1870 1
1873
1880
1887

1882

1,000,000
200,000
400,000

4

4*2
6 g.
6

300,000

100
100
Various

1,000

1,000
1,000
1,000
1,000
£200
1.000

450,000

lk'
1g-

4,204,160

149,036
4,717,000
1,130,000
2,538,000
1,572,000
391,000
4.620,110

6
6
6

§ «•

6 g.

2.000,000

1,000
1,000
200&C.
100

Schuylkill Valley.—Owns from Palo Alto to Reevesdale, Pa,
branches, 8; total, 19 miles. Leased to Phila. A Reading RR.
from Sept. 1, 1861, at 5 per cent on stock. Has no bonded debt.
Scioto Valley.—Owns from Columbus, O., to Petersburg, O., 131
miles. Stock is $2,093,350. Columns of 1st m. «ud cons m. due July 1,
’84, and of 2d m. due April, 1»84, were purchased in interest of Mr.
Huntington, and are held as liens.
In 1886 gross earnings w< re $6?3,234; deficit under operating
expenses, $9,321. In 1885,gross earnings were $546,286; net. $91,441; rents, taxes paid, Ac., $31,998; applicable to interest, $54,942.
Receiver (Jas. Robinson) was appointed in June, 1885, on a judgment
of C. P. Huntington for $639,305. Foreclosure is pending. (V. 45, p. 673.)

6 g.
6 g.

(?)

is*80

80

Pacific COMPANY— Stock ($100,0u0,000) 4,964

!

6
5

2,971,000
1,000,000
(?)
(?)
3,299,200
88,560,130

Seaboard & Roanoke.—Owns from Portsmouth, Va., to Weldon,
N. C.. 81 miles. Of the stock, $1,058,700 is common, $200,000 is 1st 7
per cent guar., and $44,200 is 2d guar. The debentures above are to be
included in any new mortg. Net earnings 1885-86. $188,375; 1886-87,
$273,550; surplus over dividends and interest, $101,653. J. M. Robin¬

Pres., Balt., Md.

Where Payable, and by

pal, When Doe,
Dividend.

F. A
M. A
F. &
F. A
J. &
J. &
A. A
Feb.

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

A, N. Y. Agency. 23 Broad.
N. Phila., Phil. A Read.RR.
A.
do
do
A. Philadelphia,Treasurer,
do
do
J.
J.
Last paid Jan., 1885.
O.
Last paid Oct., 1884.
1
None paid.
None paid.
A*J. N. Y. Office, 10 Wall.
do
A J.
do
& J. N. H., Nat. N. H. Bank,
& R.
do
do
& J.
New York.
N. Y., Agency.
A J.
A J.
London.

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

J.

Stocks—last

Wh10m.

Payable

<

*90

Bonds—Princi¬

INTEREST OR DIVIDENDS.
Amount

Y.,68 William street,

A J.

do

Yearly.

do

J. A J.
J. A J. N. Y., 50 Exchange PI.
M. A N. London, Baring Bros.
A. A O. N. Y.. 50 Exchange PI.
M. A N. N. Y., 50 Exchange pi.

F. A A

Aug. 1, 1931
May 1, 1912
Feb.

1, 1924

Aug. 2, 1887
July, 1901

Jan.

1, 1903

April 1, 1921
Jan.

1, 1923

Jan. 1, 1926
Jan. 1, 1926

July 8, 1887
March, 1910
July 1, 1914

July 1, 191*
July, 1891
1, 1883

Feb.
1887
Oct.
Jan.
Jan.
Jan.
Jan.

to 1888
1, 192#

1, 1931
1. 1931

1, 191*
1, 1890
May 1, 1903
1910

Feb. 1,

The annual report for 1886 was in the

11 miles;

son,

103

favor by giving immediate notice of any error discovered In these Tables.

DESCRIPTION.
Por

STOCKS

Chronicle, V. 44,

p.

1922

807.

INCOME ACCOUNT.

1883.
H&C- €>i f)i-S ——
Total gross earnings..
Total net income

1884.

1885.

1886.
^

1,151,840
358,427

1,120,06#

388,604

382,722

374,524

386,437

8,020

813

^
1,326,969
416,765

|||
1,233,292

449.894

Diahttr'fiPiYiP'H / o

Interest on debt
Miscellaneous
Total disbursem’ts..
Balance

2,472

452,366
def. 5,601

252

382,974
sur.

5,630

159,858

382,544
387,250
def. 24,117 def. 227,392

-(V. 44, p. 807.)
South Florida.—Owns from Sanford to Tampa, Fla., 115 miles;
Bartow Branch, 17 miles; operates Sanford to Oviedo, 17 miles, and
Pemberton Ferry Branch, 43 miles; total, 192 mile*.
The road ig
part of the Savannah Florida A Western system.
South

A

North Alabama.—{Sec

Map of

Louisville.

<£•

Nash¬

Seattle Lake Shore & Eastern.—New road in progress from
Beattie on Puget Sound to Walla Walla, 244 miles, of which 43 miles,
Beaitle to Squak, is completed. Bonds are coup, or reg. V. 43, p. 184,191.

ville.)— Owns from Decatur, Ala., to Montgomery, Ala., 182 miles
with a branch of 6 miles from Elmore to Wetumpka.
The road ig

Shamokin Sunbury Sc Lewisburg.—Line from Shamokin to
West Milton. Pa., with iron bridge over Susquehanna River at Sunbury,
31 miles; Felton to Boulder Creek, Col., 7m. The road was built by

majority of the stock and all of the second mortgage bonds, $2,000,000.
due 1910, which are pledged with the Uuion Trust Co. as
security for
the louisvilleA Naslivile bonds, dated June 1, 1880. 500,000 acres
of land in Alabama, largely mineral, nave been transferred to the
Louisville A Nashville Co. Common stock, $1,469,082; preferred stock,
$2,000,000. In 1884-85 gross earnings were $1,541,289; net, $537,481;
interest and taxes, $560,847; deficit. $23,365; due Louisville A Nashville
RR. Co., $1,733,805. In 1885-86 gross earnings, $1,469,089; net.
$430,509; inetre»t, taxes, Ac., $768,324; def.; $337,814. (V. 43,p. 218^
South Pacific Coast (Narrow-gauge).—Owns from Newark to
Junction (Felton), Cal, 45 m.; Campbell to New Almaden, Cal., 10m
leased—Alameda Point to Newark. 25 m.; Felton to Santa Cruz, 6 m.*
Felton to Boulder Creek, Cal., 7 miles; other branches. 5 in.; total, 98
ra.
In March, 1887, it was reported that tin*, road was sold to the
South. Pac. interest. Gross earniigs 1886, $870,157; net, $303,284.

Philadelphia A Reading, and opened in 1883 for its coal traffic north¬
ward. Stock. $1,000,000
Shamokin

Valley A 1'ottsvirie.—Line of road, Sunbury, Pa., to

Mt. Carmel, Pa., 27 miles; branch tc Lancaster Colliery, 2 miles total 29
miles. The road was leased February 27,1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
cent per annum on the stock.
Gross earnings for 1885, $) 22,227 ; net,

$63,318.

Gross earnings for 1886

to lessee, $14,279.

$381,612: net, $216,984; surplus

Geo. r. Roberts. President, Phila.

Sheffield A Birmingham

Mop.)

Coal, Iron A Railroad Co.—(See
Road about completed between Sheffield and Birmingham, Ala¬

bama, 90 miles. In Sept.. 1887, Sheffield A Birmingham Railroad was
consolidated with the A’abama
Tennessee Coal A Iron Co. The
new company owns the railroad, 70,000 acres of coal and iron lands in
Alabama and 60 acres of land in Sheffield. Five blast furnaces are in
course of c» nstruct on, having a capacity of 140 tons daily.
Stock is
$7,225,000 pref. and $1,000,000 of restricted common stock.
See

(omplete description of property, Ac., in V. 45, p. 441
E. W. Cole.
New York, office, 10 Wall Street
(V. 45, p. 441.»
Shenandoah Valley.—From Hagerstown, Md., to Waynesboro and

President, Ndshvi le.

thence to a connection with the Norfolk A Western road at Roanoke.
238 miles and branches 17 miles. A close contract for working and an
exchange of stock for Norfolk A Western stock, also a contract with Penn.
RR. for exchange of business was made in 1883.
In March, 1885,
Sydney F. Tvler was appointed receiver, and the April. 1885, Interest

controlled

by the Louisville A Nashville RR. Company, which

owns a

-(V. 45, p. 113.;
South Pennsylvania.—The line was in progress between Harrlsh.
A Pittsb., 225 miles, making a western extension of the Phila. A Ready¬
ing system.
In July, 1885. it was agreed that the Vanderbilt intere^
should be transferred to the Pennsylvania Company, and that com¬
pany offered $6,500,000 3 n. c. bonds of the Bedford A Bridgeport RR
guaranteed by the Penna. RR. Co. But the Attorney-General of Penn¬
sylvania brought a suit to enjoin the transfer, and this suit in Oct
1886, was decided by the Supreme Court of Pennsylvania against the
transfer to Pennsylvania Company. (V. 44, p. 23; V. 45, p. 85,113,143j
Southern Central (N. IT.)—Owns from North Fair Haven, N.Y
to Penrsylvania State Line, 114 miles. Leases the Ithaca Auburn A
Westerr, Freeville to Auuum, 38 miles; State Line to Savre, 2 rnilea
Total operated, 154 miles. The Lehigh Valley leased this road from Jam
1, 1887, for 975 \ ears, without any guaranty of interest, and it ig

defaulted. In June, 18&7, the plan of reorganization propost d was
44, p. 782, by which the differences between bondholders were set¬
tled, and the road was to be leased to the Norfolk A Western. There operated by the Pa. A N. Y. Canal Co. The consol. 5s are convertible
into stock at option of holders win n ten years, and $100,000 are held
was some delay in
cairying out the plan, and n Deo., 1887, the suit for
foreclosure is to be pushed on unle s the plan is carried out. The stock in trust to retire $90,000 of 7 per cent prior bonds due in 1899.
Sir
is $3,696,200, of which $3,057,100 Is held by the Norf A West. RR. Co. coupons ft om Aug. 1, 1880, inclusive were fun led into income bonds
From Jan. 1 to Sept. 30 in 1887 (9 mos.). gross earnings were $647,- Capital stock pani in is $1,774,850. In 1885-86, gross earnings were
776, against $533,331 in 1886; net, $108,689 in 1887, against $82,- $467,068; net, *51,452; m 1884-85, gross, $454,237; def., $37,048.—
248 in 1886; deficit under extraordinary repairs, $21,692, against a (V 44, p. 23.)
Southern Pacific COMPANY..—This corporation was organised
surplus of $66,517.
In 1886 gross earnings were $740,655; net, $79,276. (V. 44, p. 23, Aug. 14,1884, under the laws of the State of Kentucky.
It holds moat
of the stock of the Southern Eacific of California and the other railroada
150, 309, 495, 497, 680, 782 ; V. 45. p. 143, 401, 438, 473, 614, 613.)
Skore Line (Conn.)—Line of road, New Haven, Conn., to New connecting with it to New Orleans, and leases each of those roads* also
London, Conn., 50 miles. Leased to New York A New Haven RR. Co. in has a lease of the Central Pacific for 99 years. The last report had the
perpetuity Nov. 1, 1870, at $100,000 net per annum. Chartered as New following statement of the total stock of each of the said companies
Haven A New London RR.; sold in foreclosure and reorganized under owned by the Southern Pacific Co. Dec. 31, 1886, and the table also
shows the percentage of net profits of the whole system payable under
the lease to the several lessor companies.
ons and earnings are included in the reports of the lessee.
Shreveport A Houston.—From Shreveport, La., to Loganspurt,
Name of corporation.
Stock owned.
La., 40 miles; connects with Houstm East. A W. Texas road, forming So. Pac. RR. Co. of California
$43,997,900
$44,039,100
with that a narrow gauge line of 230 miles from Shreveport tollousSo. Pac. RR. Co. of Arizona
19,995,000
19,995.000
12
ton. E. L. Bremond, President.
So. Pac. RR. Co. of New Mexico
6,688,800
6,888,800
Silver Springs Ocala A Gulf.—This road is projected from Sil¬ Mor. L. A Texas RR. & SS. Co
4,062,700
5,000,000
ver Springe, Fla., to Point Pinellos on Tampa Bay, about 175
26,278,400
miles, Gal. Harris. A San An. Ry. Co
27,085,100
16
and completed to Dunellon, 34 miles. Capital stock, $1,500,000. There Texas A New Orleans Ry. Co
5.000,000
5,000,000
is a land grant of 13,840 acres per mile, of which the mortgage covers Louisiana Western RR. Co
3,360,000
3,360,000
4,000 acres per mile. The proceeds of land sales to the amount of Mexican International RR. Co
4 172,100
4,922,100
$100,00 go to retire the bon .s at 110 and accrued interest. Tlios. C. New York Texas A Mexican
598,000
814,800
Hoge, President, 56 Wall St.
Total
$114,152,900 $117,104,900
Somerset.—Oakland, Me., to Anson, Me., 25 miles. Capital stock Galv. Har. ASan Ant.,West. DiW, 6s.
l.llo.OOO
$379,050. In September, 1883, the bondholders took possession and
Total
stock
and
bonds
$115,262,900
reorganized the company. Gross earnings in 1885-86, $35,354 ; net.
$9,700. Givssiu 1884-85, $30,860; net, $5,864.
30, in 1887 (9 mos.), gross earnings on the whole
South Carolina.—Owns from Charleston to Augusta, S. C.. 137
system (5.097 milesi were $$26,376,729, against $23,329,159 in 1886
m.,
branches t> C dumi ia, 08 m., and to Camden, 38 m.; extension. 4 miles; (i,8^> miles); net, -..10,623,005, against $10,011,260;
adding rental*
total mam line and branches, 247 in. Default was made and the road
sold in foreclosure July 28, ’81, and the company was
reorganized.
There were on D. c. 31, 1886. $287,812 prior lien bonds, payable 1887
was

in V.

8resent title June 29,1864. Dividends 3*s in Jan. and 4 in July. Opera*

...

to 1892 in addition to those above.







INVESTOK’

SUPLEMNT.
'

[Vol.
xlv.

RAILROAD STOCKS AND BONDS.

November, 1887.]
Subscribers will confer

a

great favor by giving Immediate notice of any error discovered In
tbese Tables.

DESCRIPTION.

South. Pete, of Arizona—lstmort., gold,cp. or reg...
384
South. Pac.iCal.)—1st mort.,gold,laud gr., cp.orreg. 1,022

Monterey, 1st mortgage
Southern Pacific of N. Mexico—Mort., coup, or reg..
Southwestern (Ga.)—Stock, guarant’d 7 per annum
Southwest Pennsylvania—Stock

15
167
321
44

mortgage

....

Spuyten Buyvil <£ Port Morris— Stock

6

State Line <& Sullivan—1st M., cony, (red’ble aft.’88)
Staten Island— 1st mortgage
Staten Island Rapid Tran.—lstm., $ or £, cp.orreg.
2d mort. guar by B. & O. cp. or reg., gold
Incomes, gold (non cam.)

Sterling Mountain (N.T.)—1st in., income, guar ..c.
Stockton <& Copperopolis— 1st mort., (guar, by C. P.)
Suburban Rapid Transit—Stock ($(3,000,000)
1st mortgage bonds (for $6,600,000)

24
13
All.
....

....

45
....

....

Summit Branch (Pa.)—Stock
1st mortgage bonds
Sunb'ury Hazleton t£- Wilkesbarre— 1st mortgage—

20
20
43
43

2d mortgage..'.

Sunbury <£• Lewis town—1st mortgage
Suspension Bridge <t Erie Junction—Stock

43^
23
23
81
81
57

1st mortgage
Syracuse Binghamton dt N. T.—Stock
Consol, mortgage (guar. D. L. & W.)
Syracuse Geneva <£ Coming—1st mortgage

2d mortgage...

i*acuse Ontario <£ New York—1st mort
Syracuse
mortg., income (for $500,000).

.

m

•

•

„

43
•

•

819,200
962,000
989,000
200,000
300,000
1,000,000
2,500,000

5
7
4
7
7
6 g.
5 g.
6 g.
7
5

....

1877

1,000

....

1879
1873
1883
1886
1885
1881
1875
....

1886

100. &c.

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

64 L.8 65

....

(?) '
4,125,000
1,185,000
1,189,000
1,350,000
500,000
500,000
1,000,000
2,500,000
1,750,000

50

....

1874
1878
1878
1876

475,674
500,000

1,000

1,000
....

500

....

1870
1875
1876
1875
1879
1883
1883

1,000
100

1,000
100&C.
1,000
*

*

10,445,227 acres, but a large proportion of the lands is barren and
useless for agricultural purposes without irrigation. In 1886 the sales
were 313,634 acres for $887,393; land bonds
redeemed, $817,000;
land notes outstanding Dec. 31, 1886, $2,253,822.
From Jan. 1 to Aug. 31, 1887 (8 months), gross
earnings of Northern
Division were$1,127,580, against $980,449 in 1886; net, $519,823, ag’st
$478,531. From Jan. 1 to Aug. 31, 1887 (8 months), gross earnings
of Southern Division were
$2,671,124, against $2,079,502 in 1886; net,
$4,943,955;

897,000
600,000
•

*

000 per mile.
The series A, B, C and D mature in 1905-6, the serif s E
and F in 1912. The bonds are a
mortgage on the lands, and as proceeds
of lands come into the hands of the trustees, bonds are
purchased and
retired. There is also a sinking fund of $100,000 per year.
Land Grant.—The land grant was 12,840 acres per mile, and proceeds
of sales go to retire bonds. The total
grant is estimated to furnish

net,

Southern Pacific

of New Mexico.—Road extends from AriEl Paso, Texas, 167 miles.
Oper¬
ated under lev.se to Southern Pacific Company, the lessee
paying all
charges and 4 per cent of net profits (if any) of the whole So. Pacific
*ona State Line to the Rio Grande at

Bystem.

Stock, $6,888,800. From Jan. 1 to Aug. 31, 1887 (8 months),
earnings were $484,776, against $451,939 in 1886; net, $217.-

929, against $222,434 in 1886. Gross earnings in 1885 $683,249; sur¬
plus overcharges, $127,133.
Gross earnings in 1886, $667,196; net,
$310,131.—(V. 44, p. 370.)
South western (Ga.)—From Macon, Ga., to Eufaula, 144 miles;
has 177 miles of branches, the main one being from Fort
Valley to Col
Umbus, 71 m’ies. A lease was made Aug. 1,1869, to the Central RR.
Of Georgia which assumes the liabilities and
guarantees 7 per cent on
the stock, but 8 per cent is to be paid if 10 per cent is paid on Central
stock. In Ju.ie, 1881, $32 per share in 6 per cent debt certificates was
deolared by Central Georgia Railroad.
Southwest Pennsylvania.—Greensburg, Pa., to Faircbance, Pa.,
44 miles
Opened April 1, 1873, and leased to Pennsylvania Railroad
which operates it at cost, paying net earnings as rental.
In 1885
gross earning 5 were $562,920 and net efirnings, $249,438.
In 1886
gross, $756,139; net, $399,330.




3Ja

4 500,000

500 &c.

$15,000,000 and B, C, D and E each $5,000,000, the balance being in
series F; the bonds are issued at the rate of $40,300 per mile on
road and lands, except the Colorado Division, which is bonded at
$30,-

gross

Rate per When Where Payable, and
by
Cent.
Whom.
Payable

....

Southern Pacific (of California). (See Map.)—Task of Road.—
The road iu California is in two divisions—the North. Div. from San Fran,
to Tres Pinos, lOO1^ miles; Carnadero June, to San Miguel Junction, 126
miles; and leased line, Castroviile June, to Monterey, 15 miles; Santa
Cruz
RR., 26 miles;
Hillsdale
to
Almaden, 8
total
miles;
in Northern Division, 276 miles;—the Southern
Division, Huron
viaGoshen to Colorado Riw, 529 miles; Los Angeles via
Wilmington to
San Pedro, 25 miles; total South. Div., 553 miles; total South. Pacific in
Cal., 829 miles. At Goshen the Southern Div. meets the San Joaquin
Branch of the Cent. Pac., by which it reaches San Francisco and the
main line of Central Pacific. At Yuma, connects with its
closely affili¬
ated lines extending to Galveston and New Orleans.
The Colorado
Div. of 242 miles is leased and opera ed by iho Atl. & Pac. Railroad.
Organization, &c.—The Southern Pacific was a consolidation Oct. 12,
1870, of several lines in California. The Central Pacific KR. leased
the southern division, but in March, 1885. this lease was annulled and
the whole line was leased to the Southern Pacific
Company on the basis
of lessees paying all charges, and giving to this
company 26per cent
of the annual net profits of the whole S. P.
In October,
system.
1884, leased to the A. & P. the 242 miles of road extending from the
western terminus of the A. & P. to Mojave, and right of way
over the bal¬
ance of the line to San Frencisco, at a fixed rental.
(See terms of this
agreement in St. Louis & S. F. reportin Chronicle. V. 40, p. 594.)
Stock and Bonds.—The authorized stock is $90,000,000, of which
$45,994,800 has been issued and is held mostly by the So. Pacific Co.
The bonds above are in series A, B, C, D, E and F, of which A included

were

Outstanding

6 g.
6 g.
5
6 g.

*

The annual report for 3 886 (V. 45, p. 210), showed the net
earnings of
the whole system (4,847 miles and steamship lii.es> f» r the year to have
been $13,283,227, plus rentals of $5609 91, and interest. <fec., received,
$465,301; total. $14,309,218; dividends and interest on bonds, $8,7.34,810; rentals paid, $1,867,165; taxes, $888,t 23; interest on notes, &c.,
$330,191; betterments and additions, $560,85e; sinking fund, $1,196,771; payable to C P. KR., $1,324,99-; miscellaneous, $27,941; total
deduction ($14,951,355, less $822,7qJ9 due from lessor properties under
lease, $14,128,516; surplus, $180,622. (V.43,p. 103,218. 335,460, 608,
636,746; V.44, p. 344, 435, 527,654, 782; V. 45, p. 113, 210, 273, 369,
509, 643.)
Southern Pacific of Arizona.—This is the connecting line of the
South. Pacific of Cal., extending from Yuma to N. Mexico
boundary, 384
miles. The stock is $19,995,000. The bonds consist of Series A
$6,0<>0,000, due 1909, and Series B, $4,000,000, due 1910. Operated under lease
to Southern Pacific Co., the lessee paying all charges and also 12 per cent
of the net profits (if any) of the whole Southern Pacific system.
From January 1 to Aug. 31 iu 1887(8 monr'is),«rross
earnings were
$1,087,318, against $1,020,673 iu 1886; net. $473,861, against $470,761.
In 1885 the 'gross earnings were $1,564,702, and surplus over all
charges $148,029. Iu 1886 gross earnings were $1,525,221; net, $647,592.
(V. 44, p. 370.)

$920,906, against $614,380.
In 1886 gross earnings of both divisions
$1,879,939.

Amount

’79-’80 $1,000 $10,000,000
’75-’82 500 &c. 33,303,000
1880
1,000
250,000
1881
1,000
4,180,000
100
5,099,400
....

Ronds—Princi¬

INTEREST OR DIVIDENDS.

Miles
Date Size, or
For explanation of column headings, &c., see notes
of
of
Par
on first page of tables.
Road. Bonds Value.

1st

tor

900,000
(?)

J.

&

pal,When Due.
Stocks—Lost
Dividend.

J.

New York City.
Mar., 1909-10
N. Y., Mills Building. 1905-6 & 1912
do
do
April 1,1900
J. & J. N. Y., Company’s Office
Jan 1, 1911
J. & D. Savannah,Cent.RR. Bk.
Dec., 1887
M. & S. Phila. and
Greensburg. Sept., 1887
F. & A.
Philadelphia Office.
Feb., 1917
J. & J.
New York.
July, 1887
J. & J. N Y., Union Trust Co. Jan.
1, 1899
A. & O. S. Y., S. I. Rap. T. Co.
April 1,1893
A. & O. N. Y., Lond. & Glasgow. Jan.
1, 1913
J. & J.
New York.
Jan. 1, 1926
do
Jan. 1, 1946
Fob. 1. N. Y., Company’s Office. July 7. 1895
J. & J. N. Y., Central Pacific.
January. 1905
A. & 0.
A. & 0.

..

6
3
7
5
6
7
7
7
2
7
7
5
6
6

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

&
&
&
&
&

J.
N.
N.
<fe J.

Philadelphia, Penn. RR. May 1, 1928

A.
M.
M.
J.

&
&
&
&

N.Y.,Farmers’ L.& T.Co

N.
A.

Phila., 233 So. 4th St.
do

do

1936
Feb. 16, 1870
Jan. 1, 1904

do
do
May 1, 1938
Phila., Guar. T. & D. Co July 1, 1896
Yearly.
J. & J. N. Y. Lake Erie & West.
July 1, 1900
Q.—Mar N.Y..D. L.&W. RR. Co. Sept. 1, 1887

*

*

•

O.
N.
8.
D.

do

do

Oct. 1, 1906
Nov. 15, 1905
Mar. 1. 1909
1933

1983

•

Spuyten Duyvel Sc Port Morris.—Road is 6 miles in length and
connects the New York Central A Hudson with the New York &
Harlem.
Leased to New York Central November
1, 1871. Rental is 8 per cent on
capital stock of $989,000. Operations are included in lessee’s returns.
State Line Sc Sullivan.—Owns from
Monroeton, Pa., to Berenloe,
Pa., 25 miles. Originally organized as Sullivan fc Erie Coal & Railroad
Co., which was sold in foreclosure Oct. 14, 1874, and a new
company
formed Dec. 2,1874, under the present name. Stock,
$990,000 (par $50).
The mortgage covers 5,000 acres coal lauds. In
May, 1884, this road waa
leased to the Penn. <fe N. Y. Caual & RR. Co. for
fifty years, at $36,000
per annum for three years aud $40,000 afterwards.

Staten Island.—Local road

on

Staten

Island, Clifton to Totten-

vtlle, 13 miles. Road is operated iu connection with Staten Island
Ferry Company. Capital stock, $210,000, par $15 per share. Leased
to Staten Island Rapid Transit Co. for 99
yea.-s from July 31, 1884, at
$80,600 per

annum.
Dividends iu 1885 86, 26*66 percent.
Staten Island Rapid Transit RR.—This Co. was
incorporated
ander tne general law of New York State. The line of road is
around
the Staten Island shore, east and north sides, from Vanderbilt

Landing

(junction with the S. I. Railway) to

a poiut opposite Elizabothport, N.
It has a 99 years’ lease of the S. I.
Railway aud controls the Ferries
co N. Y. City.
In November, 1885, the agreement with Balt. & Ohio
was reported for
making the terminals of that RR. Co. at St.
by moans of a bridge over the Kills at Elizabetliport. The B.George
& o.
guarantees the 2d mort. bonds of this Co., and owns a
majority of Its
stock of $500,000. Tne income bon Is are held
by the B. & O. and 8. L,
R. T. cos., one-half each.
In year ending September 30,
1887, gross
t-arnings of ferries and railroad were $342,278: net, $2 '3,857;
surplus
over interest, taxes,
rentalp, Sic., $252. In 1885-86
railroad were $298,614; net, $76,863: deficit under intgross earnings on
erest, rentals. &o..
$111,979. (V. 43, p. 12; V. 44, p. 495; V. 45, p. 212, 643.)

J.

Sterling Mountain (N. Y.)—Road runs

from Sterlington on the
Erie Railway to Lakeville, 7 6 miles. Bonds
guaranteed by Sterling Iron
& Railway Co. Stock, $80,000.
Earnings in 1881-85, $26,017 gross
and $6,924 net; in 1884-85, $26,216
gross and $9,876 net.
Stockton Sc Copperopolis.—Present
company Is a consolidation,
made Nov. 17, 1877, of the Stockton &
Copperopolis and the Stockton &
Visalia. Line of road, Stockton to Milton and Peters to
Oakdale,Cal., 49
miles. Leased to Central Pacific Railroad
Company for thirty years
from December 30, 1874. By the terms of the
lease the lessee
agrees to
pay principal and interest of the bonds. Capital stock,
$234,500.

The

company previously made default July, 1874, and the $1,000,000 of
were exchanged for the
present issue guaranteed.
In 1885
gross earnings, $76,817; net, $33,063.
In 1886 gross earnings, $112.008; net, $30,58 L.
*
did bonds

Suburban Rapid Transit.—This
company has built a bridge
the Har em River, ST. Y* City, and is in
operation to 161st Street,
N. Y., 2^ miles. The lino as laid out is 14-90 miles
long. Little informs
tiou has yet been obtainable
concerning its finances. Iu July. 1880,
the Manhattan Elevate'! stockholders were offered
the
of
taking its stock and bonds, as follows: Each 100 shares ofprivilege
Manhattan
entitled to take 7 shares S. R T. Co., and 7-10 of
a $1,000 bond.
Samuel R. Filley, President, 40 Wall Street.
Summit Branch (Pa.)—This
company leases the Lykens Valley
RR., and it has a small branch of its own to Summit Mines,
\ of a mile!
The road is operated by the Northern Central under
contract. Trafflo is
almost exclusively coal. Gross receipts in
1886, includ. coal, $732,624;
net, $13,689. Gross iu 1885, $1,402,405; net,
across

$174,646;

interest, $83.195; net profit in 1885, $116,529. (V. 44, p. 185.)
Sunbury Hazleton Sc Wilkesbarre.—Sunbury to
Tomhioken,
Pa., 43 miles. Foreclosed March, 1878. Stock,
$1,000,000. The Penn.
Railroad has a large interest in it. Gross
earnings in 1885, $493,197:
net, $267,255. Gross in 1886, $425,361;
net, $195,538. J. N. Du
Barry, President, Philadelphia. - (V. 43, p. 275.)

Sunbury Sc Lewlstown.-Selinsgrove Junction to
Pa., 43 miles. Leased to Pennsylvania RR. for contingentLewistown.
interest in
earnings, which in 1884 were $105,855; in 1885,
in
$168,268;
$123,536. Stock, $600,000 and div’s of 6 per ct. a year have been 1880.
paid.
Suspension Bridge Sc Erie Junction.—East Buffalo
Junction
to Niagara Falls and Suspension
Bridge, 23 miles; Look. & Buff RR.
leased, 14 miles; total operated, 37 miles. Road
opened January, 1871
It is leased to New
net

of gross
annum.

York Lake Erie & Western Railroad
Co. at 30 per cent
are guaranteed to be not less than
$105,000 per
own all stock
except 297 shares.

receipts, which
Lessees

Syracuse Binghamton Sc New York. — Owns from
Geddes.
N. Y., to Binghampton, N. Y„ 81 miles. Chartered
as Syracuse &
BLm?
hamton and opened Oct. 23, 1854; foreclosed and
reorganized
April
30, 1857, and leased to Delaware Lackawanna
Western.
In 1885-80
gross earnings, $742,024 ; net. $307,418; interest.
$141,400; dividends
(6i« percent), $162,500. In 1884-85, gross, $692,761; net.
$275,329;int.
$141,400; div. (4 p. c.), $100,000; surplus, $33,929.—(V. 45,
p. 212.
Syracuse Geneva Sc Corning.—Owns from Corning, N.
Y., to
Geneva, N. Y.. 58 miles, and Penn Yan to
Dresden, 6 miles; total, 64
miles. This road was opened December
10, 1877, and is leased to
the Fall Brook Coal Co. at a rental of
3313 per cent of its gross earn¬
ings. Stock is $1,325,000. In 1884-85 gross earnings were

$671,69Q|

108




INVESTORS’

SUPPLEMENT.

[Vol. XLV.

MAP OF THE

TOLEDO, ANN ARBOR
AND

NORTH MICHIGAN
AIL WAY & CONNECTIONS.

November,

Subscribers will confer a great favor

Date
Miles
Size, or
Par
of
of
Road. Bonds Value.

explanation of column headings, Ac., see notes
on first page of tables.

Terre Haute <6 Indianapolis—Stock
Bonds of 1873 coupon & reg
Consol, mortgage

114

($1,988,150) —

1873
•

General mortgage, (pledged)
Texas <6 N. Orleans of ’74—1st mortg.
Sabine Division, 1st mortgage, gold

•

•

65
173
177
52
2 :8

105
104

landgr., coup

Debentures

524
524
524

Div.)
(E. Div.)

land)

.

52 i
336
*
1.487
General and terminal mortgage ($6,500,000)
54
Tioga RR.— 1st mortgage, due 1882 and
.
54
Consolidated mortgage
20
Extension bonds
7
Elmira State Line Railroad mortgage
61
Toledo Ann Arbor <& N. Mick.—1st (T. A. A. & G. T.)
106
1st mort., gold ($2,120,000)
55
Toledo Canada Southern <£ Detroit—Stock
196
Toledo <£* Ohio Central—1st mort. gold, interest guar
230

1st mort., gold, Rio Grande Division
New Orleans Pacific, 1st mortgage

extended

,

new

(for $5,000,000).c*

$163,611; rental, $223,897; taxes, $10,559;
$70,844. In 1885-6, gross, $638,921; net, $167,434;
loss to lessee, $45,540.
net,

discovered In these Tables,

1,600,000
(?)
500,000
500,000
1,000,000
1,800 000
2,145,000
1,254,000
2,28 >,000
1,620,000
2,075,000
584,000

•

50
1879
1883
1837
1879
1881
1884
1875
1882
1833

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

1,000
1,000
100

When

Rate per
Cent.

F. A A.
A. A O.

3
7

m

^

w

1885
1887

1,000
1,000
1,000

1,000
1,000
1,000
^

*

>

m

^

m —

m

•

m

1,000
1,000
.

m

m

m

1,000
1,000

deficit to lessee

rental, $212,974;

'

Whom.

Stocks—Last
Dividend.

N.Y.,Farmers’ L.&Tr.Co Aug. 10, 1887
do

do

1893

J. A J. N.Y.,Farmers’L &Tr.Co. Jau. 1, 1910
Jan. I, 1913
do
do
J. A J.
Mar. 1, 1937
M. A 8. N. Y., Union Trust Co
Nov. 1, 1909
A N.
.Last paid Nov, ’84.
May l, 1911
•i. A N.
Last paid Nov.,’8 4.
Nov. 1, 1934
Last paid Nov., ’84.
M. A N.
F. A A. N. Y., Company’s Office, Aug 1. 1905
March 1, 1912
do
do
M. & SL
1893
do
do
J. A J.

*6*
6

5 g.
7 g.

.

v7

te-

3,784,000

M.'&S.

9,316,000

J.

7,992,000
2,240,000
13,028,000
6,720,000
2,8 9,000

Payable, and by

5

34,173,600
1875
1875
1875
’79-’85
1880
1880
1884
1852
1876
1875
1875
1881
1884

Where

Payable

Bunas—Princl

pal,When Due,

?*•

A D.

July.

Last paid Sept.. 1885. Maroh 1,
June 1,
Last paid Dec., ’835.
New YorkA Pnilad’phia Jan. 1.

6

1,600,000

Feb.
A. Last paid Aug., 18 85
July
J. Last paid July, 1835
Oct.
Last paid Oct., 1885
O.
N. Phil.,Newbold Sons ACo Nov.
5
Nov.
N. N.Y., N. Y. L E A W.
7
Oct.
O. Elmira, Chemung Co.
7
Oct.
do
do
O.
7
J. N.Y.,Farmers’ L.ATr.Co Jan.
6 gMay
6 g. jM. A N. N. Y., Cent. Tru-t Co.

1.547,662
3,000,000

5 g.

239,500
125,000
265,000
160,000
1,260,000

4,50 >,000

1905
1905
1915

&
A
&
A
A
A
A. &
J. &

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

g g-

8*

I

1, 1930
1, 1920
1, 1905

1, 1915
1, 1896
1,
1,
1,
l,

1905

1895
1921
1924

....

J.
J.

A J. N. Y.. Central Trust Co.
New York Agency.
& J.

mortgage, “A” (subj *et to the

old niorta

July 1, 1935
July 1, 1917

and Texas lien, $3,951,*

000 in all), shall be made for $25,000,000, and a new 5 per cent
income second mortgage,
“ B,” for $25,000,000, noil-cumulative.
These were to be dis ributed to the holders of old bonds as stated
in V. 43, p. 164, except that holders of Lan l Incoon bonds took 60
per ee it in the new “B” bonds in addition t * the lands, but in Sept.,
1887, noti e of a change was given, viz.: The interest on new first

Syracuse Ontario Sc New York,—Owns from Syracuse, N. Y ,
Earlville, N. Y., 45 miles. The road was twice sold in foreclosure
ai d reorganized under present name in 1883.
The West Shore acquired
control of the property. Stock, $404,600. Earnings in 1885-86, gross, mortgage bonds shall begiu June 1, 1888, and the first coupon be pay¬
$88,505 ; deficiency under interest and taxes, $47,811. Ashbel Green, able Dec. 1, 1888. As compensation, the holders of each consolidated
President, N. Y.
8'x per ceDt mortgage bond on tlie Eastern Divisi >n rec. ive 115 35 per
cent in the n-*w first mortgage bonds, instead of 1L2 per cen t.
Holders
Terre Haute Sc Indianapolis,—Owns from Indianapolis to Illi¬
nois State Line. 79 m., with coal branches, 34 in.; total, 113 m. The road of each Vew Orleaus Pacific bond receive 6180 per cent in new first
was opened in 1852 (as Terre Haute A Richmond).
The company leases mortgage bonis, inst ad of 6 * per cent. The holders of the Rio Grande
and operates the Terre Haute A Logansport RR., also the St. Louis Division bonds receive 41 20 per ccut in new first mortgage bonds, inVandalia A Terre Haute Road on joint account with the Pittsb. Cm. & St. s’ea.1 of 40 per cent, as in said agreement orovided. The holders of
bonds
receive 25‘75 per cent
in new first mortgage
Louis RR., at 30 per cent of gross earnings, but guarantees the first and Terminal
second mort. bonds. rnJune, 1337, a controlling interest in the stock bonds, instead of 25 per cent.
The new stock will be $50,000,000 auth rized. and will be issued
was sold to H. S. Ives and others in the Cincinnati Hamilton A Da to a
interest. In 1885-6 gross earnings $1,053,090; net earnings and other share for share to old stockholders who oay the §10 per share cash
A land company was formed, and its stock issued to
receipts, $366,672; interest and 6 per cent dividends, $£ 46.289; loss assessment.
on T. H. A L. lease was $89,432.
In 1884-85 gross earnings, $1,060,631; holders of the land scrip and the income land mo tgare bonds as fol¬
income, $358,470; interest and 6 percent dividends, $231,289: loss on lows: Scrip holders 125 per cent for their scrip an 1 interest to July l,
1885.
Bondholders received par for tlieir bonds without any interest.
T. H. & Logansport lease, $76,634; betterments to T. H. A L. road,
The several divisions were sold in foreclosure Nov. 8 aud 10, 1887,
$45,202 ; surplus for year, $5,34 >. (V. 44, p. 714, 751; V. 45. p. 85 )
and purchased by the committee for a total of $15,00 »,0 0. See V. 45,
Terre Haute Sc Logansport.-Owns from South Bend, Indp. 643.
to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles.
the gross earnings were $5,826,401, and the net, $1,095,619.
Total operated, 182 miles.
Formerly Logansp. Crawfordsv. A Southw., InIu181885
<6, gross earnings were $6,042,305; ner, $>26,191 (V. 43, p. 12,
which was sold in foreclosure Sept. 10, 1879, and reorganized under
41, 73. 103, 125. 1 13. 16 L 191, 218. 275, 3 9, 369, 399, 400,432,
present name. Leased by Terre Haute & Indianapolis Railroad for 25 516,672; V. 44, p. 119, 150, 276, 309, 495,782; V. 45, p. 240,303.
per cent of gross earnings, and first mortgage bonds guaranteed »»v
401,611,613.)
that company. Rental in 1885-86, $119,759; loss to lessee, $89,482.
Rental in 1884-85, $108,562; loss to lessee, $121,836.
Tioga.— State line junction, N. Y., to Hoytville, Pa., 61 miles, and
Terre Haut^ Sc Peoria.—Road operated from Terre Haute, via Blossburg, Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
State Line Railroad, State line New York to Northern Central Rail¬
Decatur, to Peoria, 173 miles. This is the new company formed in Jau.,
1887, as successor of the Illinois Midland, sold in foieclosure Sept. 30, way Junction. 7 miles; and Arnot A Pine Creek RR., Arnot to HoytGross earmngs In
1886. That road embraced by consolidation the Peoiia At’auta A Dec¬ vilie. Pa.. 12 miles. Controlled by N. Y. L. E. A W
atur, Paris & Decatur and Puli'* A Terre Haute. The stock is $2,160,- 1885-86, $3 >3,454; net, $169,281; surplus over interest, rentals, Ac.,
000 pref. and $3,240,000 com. The bonds were issued to pay off receiv¬ $96,961. The stock is $391,200 com. and $189,700 pref.
Toledo Ann Arbor Sc Nortti Michigan. — (See Map )—Owrs
er’s certificates and to furnish money for steel rails, equipments, Ac.
In New York, Mr. Simon Borg and a-sociates were largely interested from Toledo, O., to Mt. Pleasant, Mich., 171 miles, which carries the
road into the heart of the lumber region of Michigan; and branches
In the property. (V. 43, p. 217, 431, 738 ; V. 44. p. 184, 495.)
to South Lyon and Macon Stone Quarry, 10 miles; total, 182 miles.
Texas Central.—Line of road from Ross, in McLennan Co., to
Capital stock is $4,010,000. The old first mortgage on 61 miles covers
Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 the Southern Division, formerly called the Tol. Ann Arbor A Grand
miles. Is controlled in Houston & Texas Central interests, by which Trunk Railroad. The annual report for 188 > was In V. 44, p. 584. Gross
eompany it is operated; but accounts are kept separate. The authorized earnings were $380,251 and net $158,156; interest charge, $145,600.
stock is $1,000,000; total issued, $130,200, of which II, A T. C. holds, James M. Ashley, President, 150 Broadway, N. Y. (V. 43, p. 608, 635 ;
$50,000; Morgan Co., $75,000; directors. $5,300. Defaulted in interest V. 44, p. 401, 527, 5 8 4.)
In 1885, and road was to be sold June 29, 1887, but delayed by an ap¬
Toledo Canada Southern Sc Detroit.—Toledo. Ohio, to Detroit
peal. (V. 44, p. 495.)
(G.T. Junction), Mich., 55 miles. Road opened September 1, 1873. Oper¬
Texas Sc New Orleans (of 1874).—Houston, Tex., to Orange ated
by Canada Southern.
The bonds were exchanged into Canada
(Sabine River), 104 miles; and Sabine City to Rockland, 104 miles: Southern first mortgage bonds at 70 per cent of face value.
total 203 miles. Belongs to the Huntington Southern Pacific system,
Toledo Sc Ohio Central.—Owns from Toledo, O., to Corning, 184
together with the Louisiana Western. This was a reorganization, 1874,
miles, including 12 m. leased; Hadley Junction to Columbus, 29 m, in¬
of the old Texas A New Orleans RR. The stock is $5,000,000, and
a controlling interest is owned by the Southern Pacific.
In addition to cluding 5 in. leased; Corning to JacKsonville, 12 m leased; total
This company was formed after sale in fore¬
above bonds, there are $467,336 Texas School bonds. From Jan. 1 to operated, 225 m.
closure of the Ohio Cent main line on April 15,’85.
The preferred
Sept. 30, in 1887 (9 mos.) gross earnings were $917,921, against $714,*
stock is $3,108,000 and common $1,592,<>00; the first mortgage
312 in 1836; uet, $425,526, against $303,307.
For year 1886 annual report was in V. 44, p. 620; gross earnings in is for $5,000,000, but no more than $3,000,000 can be issued
1885 were $1,017,618; net, $462,273. In 1886 gross earnings were except by consent of three-fourths of the present bondholders. Car
trust warrants were outstanding June 30, ’o7, to the amount of $744.$998,161; net, $482,136; surplus over charges, $114,989. C. P. Hunt¬ 988. The bonds have their interest guaranteed by the Col. A Hocking
ington, Prcs’t, New York. (V. 43, p. 133, 163; V. 44, p. 344. 370, 620.)
Valley RR. Co., and by an agreement with that company the stock of
Texas Sc Pacific.—(See Map Missouri Pacific.)—Eastern Division - Col. A H. V. was offered in exchange for three-fourths of the new stock
From Texarkana to Marshall and thence to Fort Worth, 253 miles; of Tol. A O. C., in the proportion oi one share of C. A II. V. for one of T.
Texarkana Junction to Whitcsboro, 239 miles; Marshall to Shreveport, A O. C. preferred, and one share of C. A H. V. for two shares of T. A O.,
40 miles; total eastern division, 532 miles.
Rio Grande Divis’on— C. common; the remaining one fourth of T. A O. C. stock, together with
Fort Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso(joint all that
acquired by C. A II. V. by the exchange, were deposited with
track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio trustees. Afterward the trustees, on the request of three-fourths of the
Grande division, 619 m.. New Orleans Division—(Formerly N. O. E’aci- C. H. V. A T. stockholders, divide l the T. A O. C. stocks as a dividend
fle RR.) Shreveport to N. O. and Baton Rouge Branch, 336 miles. on Nov. 17, 1885.
(See agreement iu V. 40, p.597.) From July 1 to
Total of all, 1,487 miles.
Sept. 30, 1887 (3 in -s ), gross earnings were $282,889, against $218,596
The Texas A Pacific was built under act of Congress of March 3, 1871, in 1886; net,
$91,708, against $53,013. The gross earnings for fiscal
and other acts in 1872 to ’74, and the laws of Texas. This company suc¬
year ending June 30, 1887, were $961,406; net over expenses and
ceeded to the right of the Memphis El Paso A Pacific Railroad and other
taxes, $288,303; surplus over interest and all charges, $98,532 (V.
companies.
A consolidation with
New Orleans Pacific, share 43, p. 24, 548; V. 44. p. 91, 210,341, 466, 682; V. 45, p. 240, 341, 572.)
for share, was voted in May, 1881.
From the State of Texas
Toledo Peoria Sc Western.—Road owned from Indiana State
the company received 10,240 acres of land per mile, and by building
line to Warsaw, TIL, 2z0 miles; branch. La Ilarpe to Iowa, Ill., 10 miles;
east of Fort Worth earned 4,931,702 acres, on which the income bonds
leased to lYoria and to Burlington. la., 17 miles; total operated,
are a lien, as also a 3d mortgage on the road east of Fort Worth.
The tracks
‘247 miles. This was formerly the Tol. Peoria A Warsaw, thou the Tol.
lands yet unsold at the time of last report, Dec. 31, 1884, -were
P. A Western, and as such was lease 1 to and virtu ally merged in the
3,893,794 acres. The railroad lands in Texas, however, do not lie adja¬
Wabash st. Louis A Pacific. After the Wabash default in July, 1884,
cent to the line of the roads owning them, but these are located in part
foreclosure proceedings were begun, and a sale was reached Oct. 29,
in e ounties along the Rio Grande division, 1,030.611 acres being in
1886. The reorganization plan gave to e tell of the old first mortgage
Tom Green Countj', and 1,303,380 acres in El Paso County.
stock; all other
The terminal bonds are a first mortgage on terminal property in New bondholders one new $1,000 bond and 10 shares new
stocks and bonds extinguished; stock. $1,‘>76,000. Abstract of mort¬
Orleans and at Gouldsborough; and on the Gordon coal mines.
In Dec., ’85, L. A. Sheldon and Joliu C. Brown were appointed receiv¬ gage (Charles Moran. Thomas Denny and Cornelius B. Gold, trust es)
V. 45. p. 242.
The accident at Cha'swoith, III., in August, 1887
ers.
The plan of reorganization formed by the junction of the two
by which 79 lives w.re lost, has caused many suits for damages against
committees provides that the old first mortgage due 1905 shall
this company. (V. 44, p. 309 ; V. 44,p 425 ; V. 45, p. 232, 24 2, 573.)
stand, and all others shall be foreclosed. A new 5 per cent first
to

'

•

1,487

Inoome and land mort., E. Div.. reg
Scrip for int.oninc.mort.(red’mable inst’kor

Tol. Peoria <£ West.—1st M

•

Amount

Outstanding

$1,401,880

$50
1,000
•

•

182
93

Terre Haute <f Logansport.—Stock
1st mortgage, guar, by Terre Haute & Ind’napolis
1st mortgage, extension (2d on 93 miles)
Terre Haute <£ Peoriar- 1st mortgage, gold
Texas Central—1st mortgage, gold
N. E. Div., mort.. gold (2d on 177 miles)

Texas <6 Pacific—Stock
1st mortgage, gold, coup. (E.
2d mort., oonsol., gold, coup.

by giving Immediate notice of any error

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

109

RAILROAD STOCKS AND BONDS

1837. ]







110

INVESTOR’

SUPLEMNT.

November,

RAILROAD

1887.1

STOCKS

AND

BONDS.

Ill

Subscribers will confer a great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For

explanation of column headings, &c., see notes
on

first page

Toledo 8t. L. & Kansas

Oity—Stook

Pref. 4 per ot. coupon

-

of tables.

stock, non-cumulative

gold (redeemable at 105)
c*
Tonawanda Valley <t Cuba—1st mort. ($500,000)..
jgt mortgage,

Trov dk Boston— 1st mortgage, consolidated
2a consol, mortgage (for $1,000,000)

Tyrone dk

Clearfield— Stock

1st mortgage
Ulster dk Delaware—1st mortgage
2d mortgage income bonds

United N. J. Rll.
Gold bonds

Miles
Date
8ize, or
of
of
Par
Road. Bonds Value.
451
451
451
60
35
53
64

r

....

74
....

443

Canal Companies—Stock

....

General mortg., gold and currency, coup
Uni tea Co.’s mortgage, sinking fund, registered.,

238
....

sterling loan mortgage, sinking fund

do
do
do
do
Joint Co.’s
do

do
do
do
dollar loan, mortgage

gold loan,

do

.

.

.

.

....

reg

plain bonds
consol, mort. (sink’g fund after 1880)

N. J. RR. & T. Co., 3d loan due State of N. J
Union Pacific—Stock
1st mortgage, gold, on road and equipment
2a mortgage currency

....

....

....

4,594

1,038
(Government subsidy).... 1,038

do
on road (2d on land), sink, fund.c&r 1,038
grant bonds
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
3d

Tjind

....

....

do
do
renewal
Collateral Trust bonds
Collateral trust Donds of 1883, gold
Kans. Pac.,cons. M..,g.(for $30,000,000),cp.orrg.
do

1st M.. g, cp., on

140m. west Mo. Riv.

•

•

•

•

•

•

■

•

....

140

....

1886
1881
1874
1878
—

1882
1875
1875
....

1883
1873
1871
1871

1871
1871
1878
1854
1862
1868
....

1866-9
1866-9
1874
1867-9
1871
1871
1879
1883
1879
1865

$100

Rate per When Where
Cent.
Payable

$12,250,000
4,805,000

*4

1,000
l,0i>0
1,000

9,000.000

6 g.
6
7
7

500,000
1,424.000
925,000
1,000,000
1,000, <>00
200,000

1,000
....

1,000
1,000
100 Sec.
100

1,400,000
21,342,400

1,000
1,000

1,312,000
5,669,000

2,000,000
1,846,000

....

....

1,800,000

....

....

154,000
841,000
866,000

....

5,000,000

....

....

100

1,000
1,000
....

1,000
£200

100,000
60,868,500

27,229.000
27.236,512

14,341,000
1,270,000
1,519,000
291.000

1,000
1.000

1,000

4,423.000
4,567.000
13,855.000

1.000

2,24(^000

Toledo St. Louis & Kansas City.—(See Map.)—From Toledo to

preferred stock is a coupon stock, noncuniulative, and without voting

power; the bonds may be pdd off at 105 on notice to the holders. Pro¬
vision has been made for the payment of iuterest till 1889 in case
earnings nre insufficient. All the securities aro yet hold in trust, except
$2,OOo.000 of the bonds. $4,805,000 pref stock and $2,500,000 com¬
mon stock.
See full statement as to this company in V. 43, p. 74; V. 44,
p. 754. Abstract of mortgage (American Loan & Trust Co. of N. Y
ami and Joseph E. McDonald, trustees), iu V. 45. p. 403.
The status of the Tol. Cin. & St. L »uis from time to time was given in
the Supplement up to Juue, 1886. The only stock or bond holders of
the Tol. Cin. &St. Louis who received anything for their holdings were
the first mortgage men, who took 150 in new pref. stock for Tol. Delnhos
&B. firsts and 100 in new prof, stock for St. Louis Division firsts.
(V.
13, p. 73. 369, 432,580, 634; V. 44, p. 459, 499, 714, 752, 754, 782,
809; V. 45, p. 26, 393, 403, 472 )
Tonawanda Valley Sc Cuba.—Owns from Attica, N. Y. to Cuba,
N. Y., CO miles. Stock $587,100. $113,000 of 1st mort. bonds were re¬
served to redeem same amount of 6 per cent bonds due 1910. Mr.
Bird W. Spencer was appointed receiver in 1884, and reorganization is
pending. Gross earnings in 1885-86 (8 mos., closed during rest of liscal
year) $10,»>24; deficit, $3,195. Gross in 1884-85, $18,694; def., $5,073;
other receipts, $2,929 ; net deficit, $2,143. (V. 44, p. 235.)

Troy Sc Boston.—Owns from Troy, N. Y., to Vermont State line, 35
miles; leased: Southern Vermont 5 miles; Troy & Bennington, 5 miles;
Vermont State line to North Adams, 6 miles; total operated, 53 miles.
Stock, $1,645,600. In addition to the above bonds there were out¬
standing Sept. 30, 1886, several smaller issues of bonds amounting to
$306,500. In January, 1887, an agreement of consolidation was made
with the Fitchburg of which the terms were given in V. 44, p. 544.
Earnings for three years past were: In 1883-84, gross, $483,561; n> t,
$192,539; In 1884-85, gross, $420,743; net, $192,724; in 1885-86, gross,
$475,206; net, $230,989. (V. 44, p. 59. 91, 119, 309, 421, 527,544, 551.)
Tyrone Sc Clearfield.—East Tyrone Pa., to Curwensville, Pa., 44
miles; branohes, 20 miles; total, 64 miles. This company was leased to
the Pennsylvania Railroad for 50 years in 1382. The bonds have a
sinking fund of $10,000 per year if they can be purchased at or below
par. Gross earnings in 1885, $551,000; net, $121,344.
Gross in 1886,
$484,142; net, $155,830. J. N. Du Barry, President, Philadelphia, Pa.
Ulster Sc Delaware.—Owns from Rondout (Hudson River), N. Y.;
to Stamford, N. Y., 74 miles; branch to Hobart, leaded, 4 miles ; total,
78 miles. This was the Rondout Sc Oswego in 1876, reorganized May 28,
1872, as New York Kingston Sc Syracuse, and again after foreclosure,
May 1, 1875, as Ulster & Delaware. The stock is $1,152,100. There
are also $50,000 real estate mortg. bonds. In 1884-35 the gross earnings
were $3 z5,837; net earnings $120,527.
In 1885-86, gross, $339,566;
net, $140,471. Thomas Cornell is President, Rondout, N. Y.
United New Jersey Railroad Sc Canal Co.—Lines of Road.—
New York to Philadelphia and branches, 135 miles; Camden to Amboy
and brancdies, 226 iniles; Trenton to Manunka Chunk and branches,
81 miles; total operated, 443 miles. Delaware Sc Raritan Canal, 66 miles.

in 1867 of the Delaware &

Raritan Canal Company, the Camden Sc Amboy Railroad, and the New
Jersey Railroad & Transportation Company. The United New Jersey
Railroad Sc Canal Companies were leased in May, 1871, to the Penn¬
sylvania Railroad for 999 years, at a rental of 10 per cent on the
stock, besides interest on bonds. The smaller leased roads were taken
With their several contracts. The lease has not been directly profitable
in cash receipts to the Pennsylvania Railroad, and the net loss in 1879
was $939,889; in 1880, $1,035,308; in 1881, $302,864 ; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496; in 1886.
$179,016; but the connection with New York was indispensable. Oper¬
ations and earnings are included in the Pennsylvania RR. report.
Union Pacific Railway.—(-See Map.)—Links of Road.—Main
line—Council Bluffs to Ogden and branches, 1,049 miles; other
branches—Kansas City to Denver. 643; Denver to Cheyenne, 106;
Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlled
and operated In the Union Pacfic system January, 1887—Omaha Sc
Repub. Valley RR., 289 miles; OmahaN. Sc Black Hills RR., 115: Color¬
ado Central RR., 327; Echo Sc Park City RR., 32; Utah & Northern RR.,
4ti6; Lawrence Sc Emporia RR.. 31; Junction City & Ft. Kearney, 88;
Solomon RR., 57; Salma Sc Soutliw’n. 35; Kan. Cen ,167; Den. Sc Boulder
Valley., 27; Golden Boulder & Car., 5; Oregon Short Line and branch,
611; Greeley Salt Lake & Pacific, 54; Denver South Park Sc Pacific. 322;
Salt Lake Sc Western, 57; Georgetown Breckenridge <fc Leadville, 8 miles;
Montana Railway, 9 miles; Denver & Middle Park, 4 miles; Denver
Marshall & Boulder, 27 miles; Laramie No. Park & Pae., 14 miles; Man¬
hattan Sc Blue Valley, 54 miles; Marysville <fc Blue Valley, 13 miles:
Balina Lincoln & Western, 35 miles; total thus controlled, 2,762 miles;
total operated in the U. P. system Jan. 1,1887, 4,594 miles.




Outstanding

100

Bt. Louis, 451 mUe8. On June 26. 1887, the road was made standard
gauge on the Toledo Division, 206 xoles, and the balance to E. St Louis
was to be made standard in the tall of 1887.
This company was formed
June 12, 18S6, by consolidation, and it took all the main line of the
Toledo Cin. & St. Louis narrow gauge road, foreclosed Dec. 30, 1885.
The present common stock and the lirst mortgage bonds were issued
for the purchase of the property, payment of receiver’s liabilities,
broadening the gauge, &c., &c., and $4,600 per mile of said mortgage
bonds were reserved for obtaining standard gauge equipment. The

This company was formed by a consolidation

INTEREST OR DIVIDENDS.
Amount

2%
5
7
7

2*3
4

6
6
6
6
6
6
6
6
6

g.
g.
g.
g.

1%
6 g.
6
8
7
8 g.

lg5
6 g.
6 g.

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

Bonds—Prind

pal,When Due.

Payable, and by Stocks—Last
Whom.

Dividend.

&
Sc
&
&
&
&
&
Sc
&

J. First coup.due July, ’88.
D. N. Y„ Bk. of N. Amer.
S.
New York Office.
J. N. Y., Nat. B’k of Com.
O.
do
do
D. Phila.. 233 South 4th.
J.
Philadelphia.
J. Rondout. Co.’s Office.
A.
New York.
Q.-J. Phila. and N. Y. Offices.
F. & A.
Philadelphia Office.
M. Sc S.
do
do
A. & O. Phila., Pennsylv’a RR.
M. Sc S.
London.
M. & 8.
do
F. & A. Phila., Penn. RR. Office.
M. & S.
do
J. Sc D.
Princeton, N. J.
M. Sc N.
Philadelphia Office.
A. Sc O. N. Y., B’k of Commerce.
Q.-J. New York and Boston.
J. Sc J.
do
do
J. & J. U.S. Treas., at maturity.
M. <fc S. New York and Boston.
A. & O.
do
do
A. & O. London Sc New York.
A. & 0.
J. <fe J. N. Y., Union Trust Co.
J. & D. Boston, N. Engl’d Tr.Co.
M. & N. N. Y.t 40 Wall Street.
F. & A.
do
do

June 1, 1916

Sept. 1, 1932
*

1924
1903

June, 18*7
Jan. 1, 1912

July 1, 1905
July 1, 1905
Oot. 10, 1887
Feb.
Mch.
Oct.
Mch.
Moh.
Feb.

1.

1923

1,
1,
1,
1,
1,
Sept. 1,
Jan. 1,

1901
1894
1894

Nov.

i;

1894
1888

1908
1889
1889

Overdue. '

April 1, 1884
1896 to 1899
1896 to 1899

Sept. 1, 1893
1888-’89

April, 1896
1896

July 1,
Dec. 1,
May 1,
Aug. 1,

19(81907
1919
1895

The Central Branch Union Pacific and leased lines
(388 miles) are
Derated by the Missouri Pacific under an agreement with Union Pacific
for twenty-five years from 1885, and not included in the
mileage oper
ated by Union Pacific. The U. P. also has large Interests In the 8t. Jos.
& West. RR., 251 miles; the Utah Central. 280 m.; Leavenworth
Topeka
& 8. W., 47 m.; Manhattan Alma Sc Burlingame, 56 m. and Nevada
Cen¬
tral, 93 m.; total, 738 miles, all of which are operated separately.
In 1886 a lease of the Oregou Railway A
Navigation Company to the
Oregon Short Line, guaranteed by Union Pacific was negotiated.
Organization, <fco.—This company, the Union Pacific Railway, was
formed by a consolidation, Jan. 24, 1880, of the Union Pacific RR. and
the Kansas Pae. and Denver Pae., made under
authority of the acts of
Congress of July 1, 1862 and July 2, 1864. The Union Pac. RR. was
chartered by Act of Caugress of July 1, 1862, which
gave the company a
land grant of 12,800 acres per mile, estimated at a total of
12,083,227
acres, and a subsidy in U. S.bonds of $27,236,512 on 1,033 miles of road.
The Kausas Pacific was organized as “ Leavenworth Pawnee &
West
era” in 1861; then changed to “ Union Pacific, Eastern
Division,” June
6, 1863, and to “Kansas Pacific” on March 3, 1869. The Pacifio Rail¬
road acts of 1862 and 1864 applied to this road, and
gave it a subsidy
of $6,303,000 and a land grant of about 6,000,000 acres.
The Denver Pacific—Denver to Cheyenne, 103 miles—was built
under
the charter of the Union Pacific, E. D. (Kan as
Pacific).

As to the debt of the Pacific railroads to the United States
Govern¬
ment a decision of the U. 8. Supreme Court settled the
point that the
payment of interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Aftei-wards
Congress passed
the Thurman Act, May 7,1878, which, for the Union
Paeitto, provided
that 25 per cent of the net earnings, after deducting interest on the

first mortgage bonds and construction and equipment
expenditures,
be paid annually to the Government as follows:
FirstApplied directly to interest account, one-half of Government earn¬
ings and 5 per cent of net earnings, after deducting interest on
first mortgage bonds.
Second—To be placed in the sinking fund—
the other half of the Government earnings and so much of
$850,000 aa
may he necessary to make all the payments by the company equal 25
per cent of its net earnings. On Dec. 31, 1886, this sink, fund invested
m U. 8. bonds (par value) was $5,526,100, and the
premium paid on
bonds and cash uninvested was $1,395,708; total, $6,921,809.
Stock and Bonds.—The capital stock issued and
outstanding Is
$60,868,500, having been increased about $10,000,000 since the consoli¬
dation iu 1880. Dividends since 1879 have been as follows: in 1880, 6
per cent; in 1881, 6%; in 1882, 7; in 1883, 7; in 1884, 3*3; none since.
The yearly range in prices of the stock has been—In 1880,
80@113%;
in 1881, 105!fl@131%; in 1882, 98^119%: in 1883.
70i«@104%; in
1884, 28@8458; in 1885,41@62%; in 1886,44%® 68%; in 1887 to Nov. 18,
incl., 44«r63%.
Of the Union Pacific collateral trust bonds, the first issue Is limited to
80 per cent of the following bonds: Omalia & Republican
Valley RR.,
$1,037,000; Colorado Central Railroad bonds, $2,105,000; Utah North¬
ern
Railroad, $2,387,000; total, $5,529,000.
The collateral trust
bonds of 1883 are secured by the following bonds: Colorado Central RR.
$1,397,000; Utah & Northern RR. $2,231,000; Omalia & Rep. Valley
RR. $684,000; Utah Southern RR. extension $93,000; Denver So. Park
& Pac., $1,799,000; total, $6,204,000.
The outstanding bonds of Kansas Pacific above are given less the
amounts of each class held by the trustees of the general mort.
Theoonsol. mortg. trustees are Jay Gould and Russell Sage, and
they held in
trust on Jan. 1, 1887, the following bonus or the Kansas Pacific,
making
$6,799,150 in all, viz.: Leavenworth Branch, $58 ',000; income (unsub¬
ordinated) bonds. $217,750; income (subordinated) bonds, $3,948,400;
Cheyenne Branch Den. Pac. bonds, $2,051,000. They also held $1,997,500 of the stocks and $3,160,000 of the bonds of other
companies
controlled by the Union Pacific.
Land Grant.—The proceeds of land sales on the Union Pacifio malD
line are applicable to the principal of the land grant bonds, and after
th.it to the siuking fund mortgage 8 per oent bonds. On the Kansas
Pacific the cash Income from land is applied to the general mortgage. On
Deo. 31 ’86. the company had in cash from the Un.'Paeific
grant the sum
of $4,912,906, and iu land contracts $9,095,341, which sums are
appli¬
cable first to the payment of the land graut bonds, and then to the
pay¬
ment of the 8 per cent sinking fund bonds due in 1893.
On Jan 1, 1887,
the U. Pae. lauds unsold were 3,175,507 acres, estimated at
$2,395,507;
the K. P. lands unsold, 3,*83,700 acres, estimated at
$11,608,763.
The sales in 1884, 1885 and 1886 were aa follows:
should

Union Pacific—
Acres sold
Amount

Average price
Kan. Pacific—
Acres sold
Amount

1884.

4,321.043
$6,517,773
$1 52

1885.

743,704
$1,223,227
$1 65

1886.

146,189
$179,103
$1 22

452,566

690,294

225,623

Average price

$1,917,876
$4 21%

$2,817,159
$108

$1,049,122
$4 68

TotalAcres sold
Amount

4,773,609

$8,435,649

1,433,999
$4,040,387

1,571,812
$1,228,225

The Kansas Pacific lands, from the 380th mile westward, are covered
first by the Denver Division mortgage, and all the lands of the Kan. Pac.

by the consol, mortgage.

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[Vol.
xly.

1887. J

November,

DESCRIPTION.
on

first page

Miles Date
Size, or
Par
of
of
Road. Bonds. Value.

of tables.

Pacific—( Continued)—
gold, 140th to

Union

393d mile,

Kansas Pac., 1st mort.,
do
2d M.(to U.S.Gov.) on 394m.W.
do 1st,394th to 639th m., l.g.,

Mo.R
3,000,000 ac
do
Income bds, coup., 3d M.on 427 miles
Utah Central—Stock
1st mortgage, gold
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Extern, 1st M., Juab to Frisco
Utah <6 Nevada—Stock
Utah <6 Northern.—1st mortgage
Utica dt Black River—Stock
Mortgage bonds
c
Black River & Morristown, 1st mortgage
c
Clayton & Theresa, 1st mortgage, guaranteed .. c
Ogdensburg & Morristown, 1st mortgage
..c
Utica Chenango <£ Susquehanna Valley—Stock
Utica Clinton <£• Binghamton—1st mortg
Valley (N. Y.)—Stock
1st mortgage
Valley

(Ohio)—1st mortgage,

Consol, mortgage
Valley (Va.)—1st

Clev. to Canton

gold (for $4,000,000)

mortgage

Vermont <£ Massachusetts—Stock
Bonds of 1883 (guaranteed by Fitchburg
Vermont Valley

Immediate notice of any
error discovered in these
INTEREST OR DIVIDENDS.

great tavor by giving

Subscribers will confer a

of 1871—Stock

c

.

RR.)...

253
394
245
427
280
3
105
138
37
462
180

1866
1865-7
1869
1866

87
36
16
10
97
31
12
12
59
76
113
59

1871
1874

•

•

•

'■

_

Miles

Finances, &c.—1The

1,000
1,000

1878

1,000

1,000

•

•

•

1,000

1883
....

’66-’7‘2

100
500 Ac.
....

....

1881
1879
1881
1881

•

1,000

1,000
100

....

1883

•

•

•

•

50

....

1,000

1880

Passengers

miscellaneous...

Total earnings

Operating expenses and taxes
Net earnings
Per cent of
*

183-456

TJn. Pacific)—From Ogden, Utah, to Frisco,
July 1, 1831, of the Utah Central, Utah

Extension. The road is controlled

through

ownership of stock by Union Pacific. For 1885 gross, $742,240 ; net,
$287,853; fixed charges, $340,924; deficit, $53,071. In 1886, gross,
$/71,800; net, $312,965; charges, $355,996 ; deficit, $43,031.
p. 203.)
Utah 6c Nevada.—Owns from Salt Lake City, U. T., to Terminus
U. T., 37 miles. The Utah Western made default January 1, 1878, and

(V. 45,

8,995,177
65-19

1885.

1886.

125.)

$

8,995,179

11,518,936

11,287,697

11,784,082

5,397,070
366,077

5.336,267
356,139
93,945
593,605

5,197,731

1,213,036
84,839

1,191,010
39,920
21,579

1,298.399

7,652,562

7,632,461
3,655,233
1,184,053

7,229,681
4,554,401

2,471,180

3,746,363

Expenditures—
Interest on bonds
Discount and interest

»fcc

591,540

Sinking fund, company’s bonds
Interest-auxiliary lines
Land taxes. *&c., Union Div
Loss on Leav. Top. & S. RR
Total expenditure

*Tlie diffeience

Utah Central—(Nee Map
280 miles. A consolidation
Southern and Utah Southern

309, 353, 366, 548, 608, 672, 733 ;
344, 413, 432, 435, 436, 586, 621,

62-32

1,113,600

surplus income

-(V. 43, p. 50. 161, 192, 245, 275,
V. 44, p. 22, 23, 60, 118, 149, 212,
782; V. 45, p. 53, 142, 203, 539.)

9,767,451

207,110

Total

F. & A.
J. <te D.
M. & S.
A. & O.
A. & O.
M. & N.
J. & J.
A. & O.

57 95

9,687,441
1,382,811
10,335

requirements...

J.
8.
J.
J.
J.
J.
N.
J.

10,789,175

Receipts—

Less—U. S.

&
&
&
&
<fc
&
&
&

17,608,619

$

Borplus income

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

16,157,721

INCOME ACCOUNT.

invest., prem.,

Sept. 1, 1899
July 1, 1916
Oct., 1884,
Jan. 1, 1890
July 1, 1909
July 1, 1909
(?)
July 1, 1908
New York, 40 Wall St.
Sept., 1887
N. Y., R. W. A O. Co.
Jan. 1, 1891
N. Y. Cent. Trust Co.
Jan. 1, 1894
do
do
do
July 1, 1898
do
Jan. 1, 1891
do
do
Nov. 1, 1887
N. Y., D. L. & W. RR.
Jan. 1, 1890
Utica, Oneida Nat. B’k.
During 1836
N. Y., D. L. &W.
do
do
Aug. 1, 1911
New York, Cent. Tr. Co. June 15, 1906
do
do
Sept. 1,1921
Oct. 1, 1921
Balt, and New York.
Oct. 7, 1887
Boston, Office.
Boston. Fitchburg RR. May 1, 1903
July 1, 1887
Bellows Falls.
Bost., Safe Dep. & Tr.Co Oct. 1, 1910

and the line of Northern Pacific, with branches to Butte
a connec¬
City and Anaconda Mines ; total, 466 miles. This
tion between the Northern Pacific at Garrison, Montana, and the
Pacific at Ogden. Stock $5,543,000, and 6 per cent
1884, and 1 per cent Jan , 1885. The road was built by Union

10,789.175
Net earnings
406,416
Income from investments
7,455
Miscellaneous land sales
66,474
Investments, premiums, &c
Received from trustees K. P. con.
249,416
mort. on account of interest
Profit aud loss

on

June 1, 1896
1895 to’97

Wall St.

26,603,796

5.809,018

1884.

Losses

800,000

& D. New York, 40

Stocks—Last
Dividend.

M. & N. N. Y., Lond. & Frankft.
M. & S. N. Y., Bk. of Commerce
Q.-J. New York, 40 Wall St.
do ,
do
J. & J.
do
do
J. & J.
do
do
J. & J.

( 0
7
3L>
7
7
7
5
3
6 ifc 7
5
5
7
6
6
3
5
3
5

Whom.

25,925,172

$

company’s freight.

Total income

1,000,000

J.

Payable, and by

25,657,290
14,868,115

6,070,897
17,092,927
2,493,466

earnimzs to expenses...

Not including

1886.

1,600,000
1,700,000
750,000
3,193,000
1,000,000

6 g.
6
6 g.
7
1
6 g.
7
7

Bonds—Princi*

pal,When Due

18,193,255
1,912,899

$

Earnings from—

Mail, express and

4,519

400,000

....

100, &c.

Where
Rate per When
Cent.
Payable

Tables*

4,594
$
6,<">96 237
18,588,744
1,918,8 L5

operated Deo. 31

Freight

1885.

555,860
5,543,000
2,223,000
1,107,000
500,000
200,000
143,000
4,000,000
790,000
750,000

100
500 &c.
500 &e.
500 &c.

....

Union Pactao has

1884.

4,225,000
1,000,000
1,950,000
1,950,000

....

24

4,476

6,303,000
6,242,000
109,200

50 &c.
100

made large earn
ings and until 1883 and 1884 operated its road at a low percentage of
expenses. The competition and reduction of rates by building of new
lines was the main cause for the decline in earnings. The company has
extended rapidly and built and acquired much new mileage, of which
the Utah Northern and Oregon Short Line are two of the most import
ant branches.
From Jan. 1 to Sept. 30, 1887 (9 mos.) gross earnings were $20,781,
843, against $18,83«',058 in 1886; net, $8,444,251, against $6,767,234
The annual report for 1886 was in the Chronicle, V. 44, p. 432, 43H
and the following figures were given for the whole sytem operated:
FISCAL RESULTS.
Operations,

$4,063,000

s*

_

1,000

...

50

1st mortgage

Amount

Outstanding

$1,000

1870
1879
1879

•

I VI

AND BONDS

STOCKS

BAILROAD

3,866,374
1,187,110
2,679,261

890,020
13 015

670,341
101.927

Nov.

($80,010) between these figures

59 i’,965

62,640
11,722

808,033

and the net earnings
this year to allow

3,

1880, and

$438,500 stock.
earnings in 1886, $83,420; net,
Utah 6c Northern—(See

$40,750.

Map Union

Pacific)—From Ogden, Utah,

to Garrison,

road forms
Union
dividend paid In
Pacific,
which owns $4,816,400 stock and $4,968,000 bonds. For the year 1885,
gross earnings, $1,910,555; net. $288,935. Tn 1886, gross. $2,050,439;
net, $459,418; interest, <fcc., $388,010; surplus. $72,959.—(V. 43, p.
Ogdensburg, N. Y., 134
30 miles; Clayton to
with leased lines
The company has
paid moderate dividends for a number of years. In April, 1886, the road
was leased in perpetuity to the Rome Watertown & Ogdensburg RR.
Co. at a rental guaranteed to pay fixed charges aud 7 per cent yearly
Utica

6c

Black River.—Utica,

N. Y., to

miles; Carthage to Sackett’s Harbor (leased),
Theresa, 16 miles; total, 180 miles. A consolidation
was made in March, ls86, embracing this mileage.

on

67,224

for the bondholders, and was foreclosed
this company organized. Union Pacific holds
Gross earnings in 1885. $58,588; net, $30,041. Gross

the road was held by trustees

the stock,

(V. 41, p. 276.)

Valley.—Owns from Utloa,

Utica Chenango 6c Susquehanna
N. Y., to Greene, N. Y., 75 miles;
to

total, 97
Western

branch Richfield Springs, 22 miles;
miles. Road opened October, 1872. Leased to Del. Lack. &
at 6 per cent on stock. Has no bonded debt.

Utica, N.Y., to
Clinton Railroad, 13
and leased to New
transferred to
N. Y. Ontario

Utica Clinton 6c Binghamton.—Owns from
Randallville, N. Y., 31 miles, aud leases Rome &
Total, 44 miles. Opened June 22, 1872,
miles.
York & Oswego Midland Railroad.
The lease was
the Delaware & Hudson Canal Co., and subsequently to
Western, which pays the rental of $70,500 p* r annum

for U. Cl & B.

The road whs operated by the Del.
earnim-s in 1834-85, $218,802;
$229,400; net, $105,660 Capital stock,
$849, 285, of which city of Utica holds $200,000, with interest guaran¬
teed 5 per cent, James I. Scollard, Pres., Clinton, N. Y.
aud $25,500 for Rome <v Clinton.
Lack. <fc West, till April 1, 1883.
Gross
net. $24,176. Gross in 1885-6,

from Binghamton, N. Y., to State
Opened October, 1871. Leased to
8 per cent per annum on stook,
A comparison of the condensed balance sheet for three years is as
which was reduced in 1882 to 5 per cent, the lessee assuming the interest
follows:
on bonds.
Samuel Sloan, President. New York City.
GENERAL BALANCE AT CLOSE OF EACH YEAR.
1886.
1885.
1884.
Valley (Ohio).—Owns from Cleveland, O., to Valley Junction, O.,
$
$
$
Assets
161.283.688 75 miles, and 20 miles of small branches. Of the consol, mortgage
Road, equipment, &c
158,918,607 159,293,919
35,529.187 $1,600,000 is held in trust to retire the first mortgage when due. The
39,233,527
Btocks and bonds owned, cost.. 37,499,325
755,750 consol, mortgage in a first lien on the Cleveland terminal property
680,891
Miscellaneous investments
620,640
Earnings in 1886, $628,45C;
5,697,670 Capital, $1,257,397, par $50.
3,415,280
4,797,936
Advances
2,889,218 net, $303,857. Earnings in 1835, $569,192; net, $261,446; surplus
1,683,432
Materials, fuel, Ac
1,220,612
1,351,190 over payments, $35,793. (V. 43, p. 572 ; V. 44, p. 527.)
Cash and cash resources
638,639
‘*522,480
Denver Extension sink’gfund.
407,000
Valley (Va.)—Owns from Harrisonburg to Lexington, Va., 62 miles.
68,818
70,440
Trust 5 per cent sinking fund
By
this and connecting lines under B. & O. control, the distance from
3,217,250
3,215,250
Bonds and stocks held in trust.
3,215,200
Lexington is 243 miles to Baltimore and 217 miles to Washington. The
18,599,519 Baltimore
18,159,290
Land department assets
& Ohio has a large interest iu its securities. In year ending
15,654,203
Sept. 30, 1837, gross earnings were $122,272; net, $43,369; 1885-86,
222,333,523 226,279,509 230,030,959 gross receipts. $125,667; net, $37,303. (V. 43, p. 608; V. 45, p. 673.)
Total
Labilities—
60,868,500
60,868,500
Vermont 6c Massachusetts.—Line of road, Fitchburg to Green¬
60,868,500
Stock
81,969,127 field, Mass., 56 miles; branch, 3 miles. The road is leased to the Fitch¬
81,957,682
84,173,285
Funded debt
33,539,512 burg RR. for 999 years at 6 per cent on stock. (V. 43, p. 636.)
33,539,512
United States subsidy bonds... 33,539,512
15,670,753
15,167,214
Aocrued int. oh subsidy bonds. 15,324,738
Vermont Valley of 1871.—Owns from Bellows Falls to BratJl,861,445
3,237,697
Floating debt
‘*758,493 tleboro, Vt., 24 miles, and by purchase of stock the Sullivan County
774,104
788,671
Interest accrued not due
13,827,456 RR. from Bellow^ Falls to Windsor, Vt., 26 miles; total, 50 miles. Con*
tl0,493,284
General income (profit and loss) t7,837,350
3,568,599 trolled in the interest of the Connecticut River RR. The Sullivan
2,976,634
2,383,029
ncome used for sinking fund..
19,828,519 County RR. stock is deposited as collateral security for the above
13,641,134
14,180,742
Land and trust income
Earnings, &c., for three years ending March 31, were; ,nd
mort. bonds.
Net
Divid d,
Gross
Freight (ton)
Passenger
Total liabilities
222,333,523 226,279,509 230,030,959
Earnings. Earnings. Per ot.

w

given above is

proper

accounted for by deductions made

comparisons.

—

t After deducting deficit of U. S.
accrued interest on U. S. bonds Feb.

t Not including
16,1885




916,704 due to U.

with
1, 1880, to date.
S. under Thurman Act, paid April
requirements, as compared

Valiev (N. Y.) Railroad.—Owns
line of Pennsylvania. 12
Delaware Lackawanna & Western at

Years.

miles.

Miles. Mileage.
4,555,171
50
4.246,085
50
4,559,950
50

Mileage.
20,864,921

20.199,299
26,093.466

$398,614

373.598
402 427

$113,784

110,74*
125,540

6

6
6

114

INVESTORS’

Subscribers will confer

a

DESCRIPTION.

Miles

Vicksburg dt Meridian—1st mortgage

140
140
140
189

2d mortgage
3d mortgage income (not cumulative)

Vicksb. Shrevep. <£ Pac.—Prior lien mort., gold—c*
1st mortgage, gold..
3d mort., and 1st mort. on land, gold
Income bonds

189
189

c*

c*

Tirginta Midland—Stock
Bonds, 1st series
2d
3d
4 th
5 th

[Vol. XLV.

great favor by giving .immediate notice of any error discovered in these Tables.

For explanation of column headings, Ac., see notes
of
on first page of tables.
Road.

do
do
do
do
do

SUPPLEMENT

Date

or
Par

of

Bonds

Value.

1881
1881
1881
1885
1881
1886

$1,000
1,000
500 Ac.

1,000
1.000

1,000

Too

354

series
series
series
series

6th8eries
Income mortgage bonds strictly cumulative
Gen’lmoit., int guar, by R. A D., $12,500,000.e*
Yirainia <£ Truckee—lstM.(pay’ble $100,000 a year)
Wabash St. Louis t£* Pacific—Stock, common
Preferred stock, 7 percent (not cumulative)
1st mort., gold (Chic. Div.)
1st mort., gold, Detroit Division
Wabash, 1st mort. (Toledo A Illinois)
do
1st mort. (Lake Erie Wab. A St. L.)
do
1st mort. (Great Western of 1859)
do
1st mort.
(Quincy A Toledo)
do
1st mort. (Ill. A So. Iowa) extended
do
2d mortgage (Toledo A Wabash)
do
2d mortgage (Wabash A Western)
do
2d mortgage (Great West, of 1859)
do
Consol. M., (on all but Dec. A E St.L.)..

347
52

262
112

.

75
267
180
33
29
75
167
180

490

Amount

Outstanding

Rate per
Cent.

Where Payable, and by
Whom.
payable

$1,000,000
1,100,000
1,920,000
1,323,000
4,000,000
1,064,*50
2,070,000
4,940,363
600,000
1,900,000
1,100,000
950,000
1,775,000
1,309,000
604,000

6
4 to 6
7
6 g*
6 g.
3-4-5 g.

A. A O.
M. A N.

*6*

'

1881
1881
1881
1881
1881
1881
1882
!836
1874

1,000
1,000
1,000

1890

l’oOO

1881
1853
1853
1863
1865
1862
1853
1858
1865
1867

1,000

6
6
3-4-5
5
4 A 5
6
5
10

3,717.0o0

200,000
(?)
(?)
4,509,000
2,052,000

1,000
1,000
1,000
1,009

T*
•6 g.

900,000
2,500,000
2,490.000

7
7
7

500,000
300,000

500 Ac.
250 Ac.
100 Ac.

1,000,000
1,500,000

1,000

2,500,000

1,000

2,610,000

7
6
7
7
7

7

c

When

5

Ala. N. O. Tex. A Pac. June. Co. The company was unable to earn full
Interest, and reorganization was made in 1881. Preferred stock. $1,940,ul2; common stock, $3,902,100. A receiver was appointed in 1~85 on
'“judgment obtained against it. and an outline of the proposed plan of
ittorgHui/.ation was given in the Chronicle, V. 44, p. 714, and modifica¬
tions in V. 45, p. 113. Annual report for year ending March 31, 1887,
in Chronicle of May 28, ls87, p. 080.
RECEIPTS AND EXPENDITURES FOR YEARS ENDING MARCH 31.

1883-4.
140

1884-5.
140

1885-6.
140

$190,215
300,026

Mail

$169,162
296,973

$164,818
307,609

9,307

Express

5,342
8,991

11,927
6,445

13,039
7,467

11,095

10,320

Miles road operated

Eaim^ngs—
Passenger
Freight
Miscellaneous
Total

Operating

$513,884
expenses

-

1886-7.
143

$155,903
345,268
13,10 >
10,303
7,191

394,061

$495,603
443,939

$503,30 4
426,498

$531,772
484,362

$119,823

$51,663

$76,806

$47,409

pal,^When Due.
Stocks— Last

Dividend.

N.Y.,Muller,Schall A Co. April 1, 1921
de
do
May 1, 1921

do
do
M. A N. N.Y., Farmers’L. AT.Co.
J. A J.
do
do
1st coupon duo Jan., 1888.

June 1, 1921
Nov. 1, 1915
Aug. 12, 1920

m.*a's. Balto., Mech.

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.

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

A
A
A
A
A
A
A

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

A
A
A
A
A
A
A
A
A

Nat.Bank.

8.
do
8.
do
8.
do
8,
do
S.
do
J.
Last paid July, 1884
N. N.Y., Central Trust Co.
Q.-F. San Fran., Bank of Cal.

A J. Last paid
J.
A.
A.
A.
N.
A.
N.
N.
N.

Q.-F.

Last
Last
Last
Last

Last
Last

Last
Last
Last

Last

paid
paid
paid
paid
paid
paid
paid
paid
paid
paid

Jan.

1, 191$

1, 1906
1, 1911
1, 1916
1, 1921
1, 1926
1, 1931
1, 1927
May 1, 1936
Aug. 1, 1886

luly 1,1885 July 1, 1910
Jan. 1, 1884 July 1, 1921
Aug. 1,1885 Aug. 1, 1890
Aug. 1, 18^5 Aug. 1, 1890
Aug., 1888
Aug. 1, 1885
Nov. 1, 1885 Nov. I, 1890
Aug. 1, 1^85 Aug. 1, 1912
Nov. 1, 1884 May 1. 1893
Nov. 1, 1884 May 1, 1893
Nov. 1, 1834 May 1, 1893
Nov. 1, 1884
Feb., 1907

.

Vicksburg Sc Meridian.—Line of Road.—Vicksburg to Meridian,
Miss., and branch, 143 miles. In Oct., 1885, the gauge was changed to the
standard 4 feet 8^ inches, and the transfer across the Mississippi at
'Vicksburg was completed. It is mainly owned and controlled by the

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Size,

G

sonburg to the B. A O. RR., an l a fifth lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
A Rapidan RR., and a fourth
lieu, between Charlottesville and Lynohourg; the sixth series is a first lien between Lynchburg and Danville,
Branch
Including Pittsville
and lease of Franklin A Pittsylvania RR.,
and a sixth lieu on lease of Charlottesville A Rapidan Railroad.
The income mortgage bonds were issued to retire 1st and 2d
preferred
stock; the interest is strictly cumulative, and secured hv tin* mortgage,
and inJiily, 1885, the coupon due July, 1884, was paid. These bonds
are exchangeable into the general
mortgage bonds hearing 5 p. c. inter¬
est, and guaranteed by the R chmon l A Danville RR. Co.
Of the general mortgage bonds of 1836, $7,635,009 are hold to retire
the serial bonds, also enough for the incomes.
Earnings for the years ending September 30 were:
Miles.
Gross receipts.
Operat’e: exp’ses. Net receipts.
1381-82
$1,491,921
$945,116
$546,804
....

1882-83
1x83-84
lg84-85
1885-86

....

....

....

....

....

354
354
354
354

1,664,204

New York Office, 2
P. 85.)

956,194
999,217
990.432

1,625.830
1,554,375

708,009
626,612
563.943

1,551,703
1,032,431
519,272
Wall St. (V. 43, p. 488 ; V. 44, p. 204, 681; V. 45,.

Virginia Sc Truckee.—Reno, Nev to Virginia, Nev., 52 miles.
are payable $100,000 per year.
Gross earnings in 1886
$702,891; net, $353,544; dividends, $270,000; interest and
bond payments, $303,170.
In 1885, gross. $599,149; net, $28 2,668;
interest paid, $47,500; dividends. $180,000; bonds redeemed,$100,000 ; deficit, $44,832. D. O. Mills, President.
.

Net earnings

Chargeable against

revenue

For taxes
For interest on bonds
For int. on current accounts.
For expenses of landdep’c...

Tot. paym’ts
Net defic it

$16,900
103,083

104.000

3,292
7,049

7,633
4,477

charg’ble to rev.$130,225

$133,660
$81,997

—(V. 43, p. 6116; V. 44,

p.

$17,550

$10,402
586, 680, 714; V. 45,

p.

$16,741
114,083
15,894
4,416

$18,2^5

$151,135

$161,899
$114,489

$74,329

125,033
14,232
4,298

54, 113.)

Vicksburg Shreveport Sc Pacific.—See Map Cincinnati Xciv
Orleaiis <k Texan Pacific. From Delta, La., on Mississippi River, to
Shreveport, 169 miles, and extension to Texas State Line. 2o miles
(the latter leased to Tex. & Pae.); total, 189 miles. The old Vicksburg
Shreveport A Paeiric road was sold in foreclosure Dee. 1, 18/9, ami
reorganized under present title. The stock was $3,000,000, hut was
reduced to $1,650,000, of which the Alabama
New
Orleans
A
Texas Pacific Junction Railroad Company
holds a majority, and
controls this company, also holding $3,69 ,000 of the 1st mortg. bonds
and $1,931,000 incomes.
In 1885 it was voted to issue the above prior
lien bonds lor improving the road boil, completing the transfer across
.

the Miss. River, Ac.
In 1886 the old income bonds of $2,500,000 and
the stock weie to he exchanged for 3d mortgage and land bonds (see
V. 43, p. 1(4), and this lias been partly effected/ Tne annual report
was in V. 45, p. 537.
In year ending June 3 », 1887, gross receipts
weie $564,317; net, $144,899; in 1885-6 gross $484,811; net,
$30,454.
-(V. 43, p. 104; V. 45, p. 5 37.)

Midland.—(Sec Map of Richmond <£ Danville.)—Line
Alexandria to Gordonsville, 88 miles; Warrenton
Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg
Virginia

OF

to

Road.

—

From

Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junction

to Harrisonburg, 114 miles (of which 49 miles leased to Balt. A Ohio;;
fYont Royal Branch, 1 mile; total owned, 347 miles. Leased. Orange
C. H. to Charlottesville, 28 miles; Pittsville to Rocky Mt., 30 miles;
total leased, 58 miles. Total owned and leased, 405 miles, of which 51
miles, 8trasburg Junction to Harrisonburg, is leased to the Balt. A Ohio,

leaving 354 miles operated.
The Washington City Virginia Midland A Great Southern was

a con¬

solidation (November, 1872) of the Orange Alexandria A Manassas and
Lynchburg A Danville railroads. The Orange Alexandria A Manassas
was a consolidation (June 1, 1867) of the Orange A Alexandria and the
Manassas Gap. The Washington City Virginia Midland A Great South¬

ern was

put into the hands of a receiver July 1, 1876, interest being in
was sold in foreclosure May 13, 1880, and after litigation
Virginia Midland, and bonds

default, and

sold again Deo. 20, 1880. Reorganized as
and stock issued as above.
In

April, 1886,

lease of this road was made to the Richmond A Dan¬
a payment or the fixe i charges and the payment
by the lessee of any balance of net earnings to the Va. Midland Co. Tue
lessee may if it cliooses advance the money for interest on the six
aeries of prior bonds if earnings are insullicient, but guarantees posi¬
tively the general mortgage nterest.
ville

on

a

the basis of

Of the above bonds, the first series is a first lien between Alexandria
and Gordonsville, including lease of Charlottesville A Rapidan Railroad
and the Warrenton Branch; tlie second series is a second lieu between
Alexandria and Gordonsville, including Warrenton Branch and lease of
Charlottesville and Rapidan RR.,and a first lieu between Charlottesville
and Lynchburg; the third series is a third lieu between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
A Rapidan KK., and a second lien between Charlottesville and Lynch¬
burg; the fourth series is a fourth lien between Alexandria and GordonsVibejncluding Warrenton Branch and lease of Charlottesville A Rapidan
RR., and a third lieu between Charlottesville and Lynchburg; the fifth
series is a lirst lien between Manassas Junction and Harrisonourg, in¬

cluding Front Royal Braneh and lease of road from Strasburg to Harris




The bon Is

were

Wabash St. Louts Sc Pacific.-^Tlie roads East of the Mississippi
River (operated by Receiver John McNulta, except the Detroit Division)
embrace the following pieces covered bv theseve'al mortgage: Toledo
A Illinois first mortgages—Toledo to Indiana State line, 75 miles; Toledo &

Wabash, second mortgages -Toledo to ludiaua 3 ate line, 75 miles; Lake
Erie Wabash A St. Louis, first mortgages—Ohio State lino to Illinoi- State
line, 166 milas; Wabash A Western, second mor>g ige, Ohto S'ato Uue
to Illinois State line, 166 miles: Great Western of ls5J, tir-t ami second
mortgage- Indiana State line to Meted si i and Naples. III., 180 miles;
Illinois A Southern Iowa. isrmotg<ge—Clayton to
Carthage, III., 29
miles; Quincy A To'ed >. 1st moitgage—Clayton to Meredosia, III, 33
miles; Decatur A. East Sr. L >uis, first mortgage -Decatur to E. Sr.Louis,
103 mile.-; Hannibal A Naples, 1st mrtgage-Hannibal* Mo., to Naples,
Ill., 50 miles ; Wab. St. L. A Pacific (Chicago Division), 1st mortgage—
Sneator, Ill., to Effingham and Altamout and Strawn to Chicago, 268
miles; Wab. Sr. L. A Pacific (Detroit Division), 1st mortgage—Detroit to
Butler, Ind., 114 miles. The total mileage operated is 956.
Organization. Leases, Ac.—The Wabash St. Louis a Pacific was
formed Nov. 7, 1879, by a consolidation of the Wabash and the St. Louis
Kansas City A Northern roads ami their branches. The. Wabash Com¬
pany had been organized Jan. 1, 1877, as successor of the Toledo Wab.
a West., which company was formed June 25, 1856, by a consolidation
of several companies, aud defaulted on its interest in 1875 and was fore¬
closed June 10, 1876. Tile St. Louis Kansas City A Northern was
formed in 1871 as successor of the North Missouri Railroad, which was
sold in foreclosure August 26, 1871.
In April, 1883, the VVabiSh St. Louis A Pacific was leased for 99 years
to the St. Louis A Iron Mountain (and thus to the Missouri Pacific), on
tlio general basis of paying over to the Wabash its net earnings each
year.
In May,

1884, Messrs. Solon Humphreys and Tlios. E. Tuft were
appointed receivers on the company’s <*wn application in view of the
prospective default June 1 outlie general mortgage bonds. Receivers*
certificates were Issued for about $1,400,000 and notes for $2,183,000,
to taae up notes endorsed by Messrs. Gould. Humphreys and others, but
these were finally taken up by leaving to the said endorsers the $2,700,000 of collateral trust bonds held by them as security
The plan of reorganization was published in the Chronicle, V. 40,
p. 571, and. as afterward modified, in V. 41, p. 300, providing for the
issue of $30,000,000 new debenture bonds, to he disposed of as there
stated ; also the following points were embraced iu the plan:
The whole p o terry to be foreclosed under the general and collateral
trust mortgages, an l upon receipt of the new debenture bonds, the hold¬
ers of gem ral
mortgage and collateral trust bond certificates to pay
two per cent In cash on the face of the new bonds, for which
they would
receive debenture bonds or scr ip.
vfter the formation of the new company, the Purchasing Committee
will oiler the. new stock to the stockholders of the Wabash St. Louis A
Pacific Railway Coiupauy, at the rate of eight dollars per share on pre¬
ferred, and six dollars per share on common stock, who, for the amount
so naid, will be entitled to debenture bondj, or scrip, dollar tor dollar,

addition to the snares in tne new company.
The bondholders-agree to take any stock and debenture bonds not
accepted by stockholders, upon the same terms, pro rata, the amount,
however, not to exceed five per cent on the face of their bonds.
The decree of foreclosure was made in January, 1836, and the road
sold April j6, 1886, to the purchasing committee, who were the only
b dders, the price for all the properties sold
being $ >25,000. (See
V. 42, p. 537.)
But there was some delay in the confirmation of
in

sale, the

floating

liabilities

about $4,000,000, and there

including

receivers’ debt, Ac., being
a large amount of over-

yet remained

November,

Subscribers will confer a

explanation of column
first pa ire

on

INTEREST OR DIVIDENDS.

headings, &c., see notes

of tables.

Wabash St. Louis £ Pacific—(Continued) —
Wabash, 1st mort., (Decatur AE. St. Louis)
do
Fund, debt bds. A sc, certs, (seeremarks.)
do
Mort., gold, sink. fd. $25,000 after ’82..
Hannibal & Naples, ist mortgage
XXJnhn

eh

WpJttP.ill.

—

RfOfik

Missouri)

8t. L. K. C. &No., 1st mort. (North
real estate & railway 2d mort....
do
do 1st A 2d M.on St. Char.Bridge,conp.orrg

8t. Louis Council Bluffs A Omaha—Stock
St. Louis Ottumwa A C. R.—1st mort
Des Moines A N’nrt'hwAflt.ern—1st inert _

Ware River—Stock (guaranteed)
Warren (N.J.)—Stock
2d mortgage, now 1st
1st consol, mortgage

Washington City <& Pi.
West

Jersey—Stock

discovered in these Tables.
Ronds—Princi¬

giving immediate notice of any error

great favor by

DESCRIPTION.
For

115

STOCKS AJSTD BONDS.

RAILROAD

1887.]

Lookout—1st M. bonds gold.

1st mortgage loan
1st
do
consolidated

Consolidated mortgage
..
Ocean City RR. bonds
West Jersey A Atlantic—1st mortgage
Pleasantville A Ocean City
West Shore—1st M.; guar, by N.Y.C.& Hud., cp., rg.

Miles
of
Road

109
V

-

«

50

Date
of

Size, oi-

Bonds

Value.

1869
1877

$1,000

1879
1879

1,000

1865
1874
1878

1,000
1,000
1,000

1875

1,000

Amount

Par

Rate per
Cent.

Outstanding

7
6 & 7
7 g.
7

$2,700,000
3.009,850
2,000,000
500,000

500 Ac

1,000

When

Payable

F.
F.
4.
J.

&
A
A
A

j Where

«...

42
42
115
49
18
18
18
12
186
38
63
128

34
....

448

....

1855
1870
1875
1873
....

1866
1869
1879
1880
....

1895

»

7
6,000,000
7
3,000,000
1,388.500 6 & 7
6
626,000
7
7

322,500
135,000
750,000

3**
3**

1,800,000

7
7
6
3
6
7

750,000
600,000
540,000

100
....

....

2,000,000
1,000,000
1,000,000

50

500&C.
500 &c.
500 Ac

6

748,500
100,000
400,000

1,000
100 &c.

6
6
6
4

80,000
50,000,000

1,000&C

g.

A.

&"o.

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

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

J.
J.
0.
O.
S.
D.
8.
J.
O.
N.
A.
S.

J.
J.

1886
1885
1884
1885

Stocks—Last
Dividend.

Aug., 1889
1, 1907
April 1, 1909
June 1, 1909
Feb.

„

„

„

of Commerce. July 1, 1895
do
Sept. 1, 1895

& J. N. Y., Bk.
do
M. A S.
do
A. & 0.

J.

-

100
50

Whom.

A. Last paid Aug. 1,
A. Last paid Aug. 1,
0. Last paid Oct. 1,
D. Last paid June 1,

(?
354
354

pal,When Due.

Payable, and by

1903-1908

do

Oct., 1895
July l. 1899
July, 1887
Boston, Bost. A Alb. RR
N.Y., Del., L. & W. RR. Oct., 1887
do
do
April 1, 1900
,

Bk'of Commerce.

March 1. 1905
do
do
1903
Baltimore,Balt. & O.RR.
Phila., Pa.RR.Co. Ottloe Sept. 15,1887
do
do
Jan., 1896
Oct., 1899
do
do
Nov., 1909
do
do
do
do
Aug., 1925
Phila., Fidelity I. T. Co. Sept. 1, 1910
Phila., Penn. RR. Office. July 1, 1910
Jan.

New York.

1, 2361

.

'

i

tlie prior mortgage liens. Tlie Committee of Reorganiza¬
tion in June, 1886, propos< d to the holders of all mortgages on the road
east of the Miss. River that their future interest, should be reduced to 5

due interest on

funded to 18b6, (see proposal in V 42,
p. 695). Some bondholders made opposition to this, and after litigation
the receiversTutt and Humphreys were removed by an order of Judge
Gresham, and Judge Thos. M. Cooley was appointed receiver of most of
the lines east of the Miss. River covered by the section'll mortgages. The
order made by Judges Brewer and Treat for the surrender of these lines
was in Vcl. 44, p. To.
The purchasing e »inmittee afterward took pos¬
session of the liues yet remaining in the Wabash system west of the
Mississippi Rive • and organized the Wabash & Western. Suits to fore¬
close the Ill. <te So. Iowa mort. and the Great Western of 1859, aiso the
consol, mort. of 1867, were begun in Jan., 1887.
The situation of Wabash in March, 1887, was substantially this: The
Purchasing Committee had bought the whole property at foreclosure
under the general and collateral trust mor gages, ■which were thereby
'extinguished, as also the stock. The Committee then held the property in
trust lor the l ormer holders of gen ral and collatera trust bonds and
for the stockholders who bad come into the plan and paid their assess¬
ments
In the meantime suits had been started to foreclose the prior
mortgages on some of the lines east of the Mississippi River, and most
of those lines were placed in the handsof a new receiver, Judge Cooley.
Thr Purchasing Committee organized the new Wabash Western to
include the lines yet in possession of the receivers west of the Missis¬
sippi Rivrr, and aifo expected to take or to operate by consent the De¬
troit Division, But er, Ind., to Detroit, and the Eel Rivir leased line.
Of the Detroit Division some of the bondholders in April, 1887, con¬
sented to fund back coupons aud take new bonds at 5 per cent for their
per

"

cent and overdue interest

old bonds.

From Jan. 1 to July 31, 1887 (7
the Mississippi were $3,689,304,

mos.), gross earnings of lines east

of

against $3,595,899 in 1886; net, $1,-

202,389, against $747,256.
Earnings, expenses, dec., for four years were as
being in 1883, 3,560; in 1884, 3,582; in 1885, 2,779,

below, the mileage
and in 1886, 2,198.

income account.

1883.

1884.

1885.

1886.

$
3,584,195
452,566

$

2,610,329

$

1,899.938

240,339

68,553

$
2,974,636
63,501

2,850,668

1,968,491

4,940,191

3,038.137

4,399,716

828,244

2,727,348

598,100

433,615

Total
5,544,169
Balance, after inter¬
est and rentals
df. 1,507,408

3,555,592

1,500,879

1,219,705

Receipts—
Net earnings
Other receipts

Total income....
Deduct—
Rentals paid
Interest on debt

$

$

$

1,144,453

df. 704,924

902,779

$

786,090

sur.467,612sur.l,818,432

-(V. 43, p. 21, 49. 50, 73. 104, 164, 192, 217, 218, 238, 309. 369, 400,
460, 4^8, 515, 516, 548, 580, 608, 636, 672, 719. 739, 766; V. 44, p. 10,
60, 119, 173, 185, 212, 235, 369, 344, 401, 435, 621, 654, 692, 714, 717,
782, 803; V. 45, p. 166, 403, 438, 473, 509, 540, 573, 6 43.)
Wabash

owned

Western,- The road

includes those parts of

the former Wabash 8t. Louis & Pacitlo west of the Mississippi River that
remained in the system when the purchasing committee took possession
in March, 1887: also certain lines east of the Mississippi that Judge
Cooley did n »t take. The total mileagi operated iu May, 1887, was re¬

ported by the Wabash Western as 995 miles, made up as follows: St.
Louis to Kansas City, 276 miles; Levee to Ferguson, 10 m.; Ceutralia
to Columbia, 22 iu.; Glasgow to Salisbury. 15 m.; Moberly to Coatesvllle,
On Nov. 21, 1887, a plan of settlement aud consolidation wras pub¬ 88 in.; Coatesvllle to Ottumwa, 43 m.; Brunswick to Chillicothe, 3 4 m.;
The track of the
lish*: d by the purchasing committee and the bondholders’ committee Pattons burg to Chillicothe, 42 m.: total, 534 miles.
which embraces the following salient p nuts.
Chicago A Rock Island road from Ottumwa to Gibbon, 37 miles, is also
used. Tne following roods are operated in addition: Des Moines & St.
1. Cash for all overdue coupons of me first mortgage and funded debt
bonds or scrip, except the Detroit Division, with interest on same to Louis (Des Moines co Albia), 67 miles; D.-s Moines & Northwestern (Des
Moines*to Fonla), 115 m.; Detroit Division, 113 m ; Eel River, 93 m.;
November l, i887, upon deposit of bonds under this agreement.
2. Bonds of The new first mortgage for overdue coupons of the second Champa'gn A Sidney, 11 m.; Attica A Covington, L4 m.; total. 415 m.
mortgages and funded debt bonds or scrip, and the Detroit Div., with Whole mileage operated, about 990 mil *s.
The bonds of St. L. Ottumw* A C. R. RR. and the Des M. A N. W. are
interest thereon to November 1, 1887, and for ove* due coupons on connot guaranteed, the roads being merely leased and operated by W. W.
8 ilidated mortgage, funded debt and scrip of same, and the Wabash
From Jan. 1 to June 30 in 1887 (6 tnos.) gross earnings were $2,927,mortgage sevens of 1879.
3. Foreclosure of the mortgages was deemed necessary for the 699; net, $994,593. (V. 44, p. 344, 370, 466, 713.)
organization of a now co npauy or companies, and the consolidation of
Ware River.—Palmer, Mass., to Winchendon, Mass., 49 miles. It
the company or companies so organized with the Wabash Western Rail¬
is leased for 999 years to the Boston & Albany Railroad at a rental of 7
way Company.
PROPOSED 8CIIEME OF

CONSOLIDATION, NOV.

1887.

per cent per annum. J. A. Rumrill, President, Springfield, Mass.
.4. The. creation of a new first mortgage by the Consolidated Company,
payable in fifty years from November 1,1887, bearing 5 per cent interest
Warren, N. J,—Line of road, New Hampton Junction to Delaware
in semi annual coup ms, principal and interest payable in gold
Into Bridge,
N. J., 18*4 miles. The road is leased to Delaware Lackawanna
this all tlie old first mortgage bonds, funded debt and scrip pertaining A Western at 7 per cent on stock and bonds. John I. Blair, President,
thereto, to be convertible to rh • amount of principal thereof.
Blairstown, N. J.
5. A new second mortgage upon the lines east of the Mississippi
River, payable fifty years from February 1, 1888, nearing 5 per cent
Washington City & Point Lookont.—Hyattsvllle, Md., to
interest in semi-annual coupons, principal and interest payable in gold. liepherd. Mil, 13 miles. This road was opened in 1873.
It is leased
Into Ibis the principal of the bonds of all of tue old second mortgages, to the Baltimore A Ohio for $36,000 gold pu- annum. The stock paid
the consolidated* of 1867 aud the sevens of 1879 to be convertible.
is
$1,000,000.
to
in
In 1381 it was proposed
exf,end the road and a

issue of $2,000,000
President.
new

Stocks and Bonds.—The old prof, stock had a prior right to 7 per
cent tnon-cumulative); then common to 7.
Prices of stock since 1879 have been: Common in 1880, 26*ii®48;
in 1881, 33*4*60; in 1882, 2358*39^; in 1883, 15*36*4; in 1884,
4*19%; in 1885, 2*15*3; in 1886 (pur. com. receipts), 12*2458: in
1887, to Nov. 18, inclusive, 13*8*223s.
Preferred in 1880, 51*4*8838;
in 1881. 64*4*96*4; in 1882, 45^8*71 Sg; in 1883. 29*8*57*$; in 1884.
9*32; in 1885, 6*8*25; in 1886 (pur. com. receipts) 23as*4178: in
18s7, to Nov. 18, inclusive, 23%*38*4.
First m oil gage ou St. Charles Bridge is for $1,000,000, and is 6 per
cent now, running absolutely till 1908.
The amount of funded debt bonds of 1877, due 1907 as above given
includes the scrip certificates for coupons funded and deposited in trust.
Which certificates amounted January 1, 1883, to $1,014,453, and are

exchangeable into the bonds. If not exchanged the certificates fail due
with the principal of the bonds from which coupons were cut.
The collateral trust bonds of 1883 were issued for lloating debt.
These bonds were guaranteed by the St. Louis Iron Mountain A
Southern RR. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $lo,000,000 totheSt. Louis Iron Mt. <fc Southern as
seeuritv *or this vuaramee
These ami the ventral ntortvave bonds
were to take new debentures under tlie plan of reorganization.
Operations, Finances, Ac.—The Wabash St.
its lines very widely in tlie years 1879 to 1882

Louis A Pacific extended

(under the presidency of
Mr. Solon Humphreys;, by the acquisition or branch and connecting
roads, and thereby assumed heavy liabilities. Although the earnings
Increased largely, the annual liabilities were still far in excess
of the net profits. The road was operated in close connection with the
Gould Southwestern system running into St. Louis, and tlie formal lease

to the St. Louis A Iron Mountain Company

placed the Wabash in com¬

plete
control of the Missouri Pacific prior to tne appointment of receivers
tor
the Wabash.




West

bonds was authorized, duo 1900.

Jersey.—Main line and

8. T. Suit,

branches—Camden to Cape May,

Bridgeton, Riddleton, Sea Isle, Ocean City, Ac., 159 miles; West Jersey
A Atlantic Railroad., 39 miles; total, 199 miles operated.
Iu August >887, 20 per ceut new stock was issued to stockholders, at
par, to provide acquisitions and improvements, and a fu ther issue was
made laier to consolidate several of the branch roads into the W. J. Co.
From Jan. I to Sept. 30, 18-7 (9 mos ), gross earnings were $1,167,153, against $1,077,141 in 18w6; net, $455,745, against
The annual report for 1886 was published in tlie Chronicle,

$418,849.
V. 44,

p.

494.

Income account for

four years (Including 1886) was as

follows:

INCOME ACCOUNT.

1884.
$

1883.

$

Receipts—
Total gross earninira
Net earninvs
Other receipts
Total income
Disbursements—

dentals oaid
Interest on West Jer. debt..
Net earn.of W.J.AA.RR.,Ac
Dividends
*
Kate of dividend

Total disbursements
Balance, surplus

-(V. 44, p. 494,

1885.

$

1886.
$

1,227,654 1,319,648 1,286,012 1,352,458
476.627
508,274
503,305
441,896
441,896
$

36,571
178,888
73,075
85,232

11,966

14,008

21,350

515,271
$
41,270

490,625

175,174

175,174

90,668
87,788

89,113

524,624
$
41,745
180,174
90,081
89,140

6 p. c.

6 p. c.

$
39,038
81.990
6 p. c.

6 p. c.

373,766

394.900

385,375

401,140

68.130

120,371

105,250

123,484

782; V. 45, p. 473. 614.)




116

INVESTOK’

SUPLEMNT.
[Vol.
xlv.

RAILROAD

1887.]

November,

Subscribers will confer a

great favor by giving immediate

for

explanation oflirst
column headings,
on

page

of tables.

&c., see notes

Virginia Central db Pittsburg—1st niort., gold.
Western (Ala.)—Western RR. bonds, before consol.c
2d M.,guar. by Cent, of Ga. and Ga. RR. & B.Co...c
Western db Atlantic (Ga)—Income bonds

Miles
of
Road.

West

Baltimore.

Western Maryland— 3d M., endorsed by
4th
do
endorsed by Baltin 'ore
Funded coupons
Baltimore A Harrisburg RR., M.(for $690,000)..
Western V. T. db
1st mortgage

Pennsylvania—Stock ($30,000,000)

($10,000,000), gold
2d M. (1st oa equip., etc.), $20,000,000, gold
Warren A Franklin, 1st mortgage
Western North, Carolina—1st mortgage, coup
Consol mortgage, coup, for $3.425,000
2d consol, mort., coup. ($15,000 p. m.)

Pennsylvania—1st mortgage
Branch
Registered bonds
White Water—Stock ($325,000 of it pref.)
Wheeling db Lake Erie— 1st M., gold ($3,000,000)..
Wilmington Columbia db Augusta—Stock
Western
1st

mortgage, Pittsburg

1st mortgage

Wilmington db
Wilmington db

Sinking fund

60

1881
1868
1870
1873
1870
1872

160
138
90
90
m

m

m

m

663
630
630
57
130
189
57
28
....

65
186
227
m

bonds, gold

Wisconsin

$1,100,000

1,000

340,000
1,171,000
311,000
875,000

1,000
500 Ac.
100
100

1st series
2d series, income (not cumulative)
Mort. Minn. St. Croix A Wis. RR
Penokee RR.—1st mort

West Jersey Sc Atlantic.— Newtield. N.
34 miles; Pleasantville A Ocean City RR.,

1881
1864
1863
1865
1883

1887, and 2*2
West

500 Ac.
100 Ac,

2,575,000
4,110,000
800,000
1,000,000

1,000

2,500.000

....

1880

1,000
....

m

m

m

m

100

1879
1879
1879
1884
1867

™

®

®

....

....

^

«

A

.

1,000
....

J., to Atlantic City, N. J.
7 miles; total, 41 miles

Weehawken, N. J., opposite N. Y.

City,

City, to Buffalo, N.Y., with branches to Albany City and Rochester
miles in all. This company was organized in December. 1885.
as successor to the N. Y. West Shore A Buffalo, sold in foreclosure.
Immediately on its organization the new West Shore Company issued

$10,00<>,000 of capital stock, and made an authorized issue of $50,000,000 of 4 per cent bonds.
A lease of the West Shore property to the New
the

for 475 years was

executed in compliance with

plan of reorganization. The $10,000,000 of stock is
Central Company in consideration of that

the New York

owned by
company’s

of new
Sirantee
of theisprincipal
the $55,000,000
bonds.
theinterest
Co., as trustee,
and covers
mortgage
made toand
Union of
Trust
e

875,000
275,000

5 g.

all,

the line of road. Weehawken to Buffalo with branches, 418 miles in
and also the terminals at Weehawken by ownership of all the stock and
bonds of the Terminal Company. The guarantee of the N. Y. Cent. A
Hudson is absolute as to interest and principal and is endorsed on each
bond. A review at much length of the status of the new West Shore
bonds was in the Chronicle, V\ 42, p. 176.

railroad company in
Elk Garden Coal Field.
November, 1884, in operation from Piedmont, W. Va., to Davis, W. Va.,
58miles; Branch, Shaw. W. Va., to Mineville, 2 miles; total, 60 miles.
Owns 32,244 acres of coal and iron lands covered by the first mortgage,
and has mineral rights on 5,407 acres more. In 1886, net from coal,
$34,031; from railroad, $52,329; miscellaneous, $884; total, $87,244;
interest, $66,000; surplus, $21,244.
In 1885, net profits on coat sales,
$48,872; net from railroad, $34,053; total revenue, $82,925; iuterest
paid, $66,000; surplus, $16,925. Stock, $5,500,000. H. G. Davis, Presi¬
dent; 8. B. Elkins, Vice-President; James G. Blaine, W. H. Barmirn,
West Va. Central Sc Pittsburg—A coal and
West Virginia in the upper Potomac region—the

2,788,000
960,000

1,600,000
1,278,050
2,500,000
936,000
1,336,000
(?)
(?)

J.

A. A O. N.

4. A O.

Q-J.
J.
J.
J.

Tuly 1, 1911

New York, Office.
Y., H B. HollinsACo.

Oct. 1. 1888
Oct. 1. 1890
Oct. *87 to ’90

do
do
Atlanta, Co.’s Office.

J. Balt.,N.
do
J.
do
A J.
A

Jan., 1900
Jan., 1902
Jan., 1902

Mechanics’ B’k
do
do

A

360,000

160; deficit under interest and 1^3 per cent dividend, $3,280.
Western Sc Atlantic.—Atlanta, Ga., to Chattanooga, Tenn., 138
miles. Built by State of Georgia and opened in 1850, and by an act of
October 24,1870, was leased to a company for twenty years at a monthly
rental of $25,000. In July, 1887, the lessee company put in a large
claim for betterments. Sec V. 45, p. 85.

Iflaryland.—Line of Road—Baltimore to Williamsport,

Md.,90 miles; Eimnitsburg Branch, 7 miles; Edgemont to Sliippensburg, Pa., 34 miles; total, 131 miles. rI he Baltimore A Harrisburg,
leased in^Nov., 1886, comprised 78*2 miles. The capital stock is $683,75u. lW company was largely assisted by the city of Baltimore, and
was unable to pay all its interest.
In 1886 the company proposed
that Baltimore city should pay off the $1,800,000 bonds embraced in the
first and second mortgages and take a mortgage on the railroad prop¬
erty as security; this was accepted by vote of the city, and on Jan,
1* 1887, a'l the said bonds were retired.
The Baltimore A Harrisburg RR. was formed by consolidation of
several small roads in 1886 and leased to the WTostern Maryland, which
also owns a large amount of the stock; of the issue of $690,000 bonds,
8415.000 are held iu trust to pay off prior mortgages The Western
Maryland operations for four years have been as follows:

do

do
do

A. A O.

J.
J.

A J.
A D.

4
7 g.
5

J.
J.
J.

A D.
A J. N. Y., Bost., Loud., Frank
N. Y. A London.
A J.

M.
J.
J.
M.
M.

A
A
A
A
A

*7

1.500,000

5

6

1, 1936
1, 1928

1, 1896
May 1, 1890
Jan. 1, 1911

Oct., 1914
April 1, 18# 3
Jan. 1, 1896
June 1, 1923
Oct. 1, 1926

New York, 2 Wall St.
Baltimore.
N. Y. and Baltimore.

N.
J.
J.
N.
S.

N.

July, 1887
June, 1910
Jan. 15, 1887
1896
1935

5 p. ct. yearly
1909
1909

Y., 36 Wall st.
do
do

N.Y.,Farmers’ L.AT.Co.

1

1914

1937

miles are leased. The

2 miles; total operated, 663 miles, of which 40
Swain’s Branch, owned 11 miles, is leased to L. A
This coinpauy was organized Nov. 22, 1887, as
falo New York A Philadelphia (a consolidation of
embarrassed iu 1S84 and was sold iu foreclosure

P. RR.
successor to the Buf¬

1883), which became
Sept. 15, 1887. The
plan of reorganization dated Feb., 1886 (sec V. 42, p. 242), provided
mortgage bonds for the
N. Y. A P. 2d mortgage,
for future use. Of the
underlying $6,073,000 bonds of the old company which were to he so

that there should bo issued $10,000,000 ttrst
several issues of old first mortgages and the B.
the balance for reorganization expenses and

provided for out of the $10,000,000 new lirst mortgage bonds, all but
$800,000 Warren A Franklin bonds are retired. Tnere were also $20,000,000 2d mort. bonds, to be issued for all other bonds on certain
terms; and $30,000,000 of new common stock. The old stock paid an
assessment of 8 per cent on the preferred and 12 per cent on the com¬
mon, each receiving the new 2d mortg. bonds for the assessment paid,
and share for share in the new stock. 2d mortg. bonds are a second

coal and equipment, subject
mort^., if foreclosed.” Till
Jan., 1893, they bear interest at the rate of 3 per cent, but till 1893
lien on the railroad and first. “ on terminals,
to lease of terminals and equipment to 1st

on a graded higher rate,
after 1898 the rate is 4 per
cent interest, non-cuinulative, payable only if earned, is secured by the coupons placed iu trust
therefor, and is exchangeable by the company for debentures with like
security. Trustees of 1st mort. are Carl Scliurz and 1. N. Seligman.
Iu the year ending Sept. 3), 1837. gross earnings were $2,716,388,
against $2,624,069 in 1886; net. $485,052, against $575,227. Of the
$485,052 net earnings shown for the last fiscal year, $475,542 were
interest may be paid wholly or partly in scrip
and if paid all iu scrip the rate is 5 per cent;
The scrip issued for interest nears 5 per
cent.

earned in the last 7 months.

Gioss for Oct., 1887. $257,000, against

$227,384 in 1886,
The annual report for the year ending Sept. 30, ’86, was in the Chron¬
icle, V. 44, p. 89, and contained the following income account.
1885-86.
1884--5.
Receipts—
1883-84.
$2,568,217
$2,335,514
Gross earnings
$2,614,774
$373,007
$154,«47
Net earnings
$526,933
55,853
.

Rentals and interest
Total income
Disbursements—

Interest on bonds,

iu¬

Jau.
Oct.
Feb.

Y.,Company’s Offioe.

5 g.
3
6

3,800,000
5,700,000
2,600,000

Other iuterest, Ac

1887. gross earnings were $162,529; nee, $163,911; surplus over
terest, $10,471. In 1885-86 gross earnings were $465,235; net, $165,-

J. N.

A

A O.

do
F. A A.
Raleiiili. N. C.
M. A N.
J. A J. N. Y., Central Trust. Co.
A. A O.
A. A O. Philadelphia, Penn. RR.
do
do
J. A J.
do
do
J. A D.

5
5
5
5

Alabama.—Line of Road—Selma to Opelika, Ala., 116
miles; branches, Opelika to WTest Point, 22 miles; total, 138 miles, of
which 50 miles is leased to Louisville & Nashville for $52,000 per
WTas a consolidation in 1870 of Montgomery & WTest Point and
annum.
Western of Alabama. Sold May 10, 1875, in foreclosure and purchased
jointly by the Georgia Railroad and Central Railroad of Georgia. The
old stock and income bonds were wiped out in the foreclosure, and the
property is represented by the bonded debt and $846,000 due each of the
above companies. There arc also $32,000 second mortgage 8s of Mont¬
gomery A West Point RR. duo May 1, 1888. In year ending Aug. 31,
Western

J.

*

and others, directors.

Western

A

Stocks—Last
Dividend.

Whom.

Payable
J.

pal.When Due.

Payable, and by

7
7
6
6
6
6
5

1,300,000
1886

about 448

York Central Company

1,000,000

800,000
850,000

1,000

September 15, 1887.

Shore.—Line of road from

6
8
8
10
6
6
6
5

Where

When

20,000,000 3g.or5sc. A.

1,000

operated by West Jersey Railroad on a
joint traffic agreement and 25 per cent of gross receipts on West
jersey from traffic of this road to be applied to any deficit in interest
and then as sinking fund for bonds purchasable at 105, or drawn if
over that.
In 1384 net earnings were $83,286: Stock is $744,500.
Two per cent dividend paid in July, 1884. three Jan. 1. 1885. two
September, 1885, two March 15. 1886, three December, 1886,2^ March,
Opened June 17, 1880, and

Rate per
Cent.

7,700,000

1,000
1.U00
1,000

....

1885

326
326
326
104
50

Outstanding

100

1888
1888
1865

_

$12,000,000)...
$J,000,000)
Central— Consol, mort., land grant, pref.

Amount

$1,000

87
222

Northern—Stock
Weldon—Stock

bonds, non cum (for

Income

Date
Size, or
Par
of
Bonds Value.

44

mortgage for $4,000,000
Wisconsin Cent. Go.—1st mort. (for
Gen.

notice of any error discovered in tbese Tables.
Bonds—PrinoiINTERE8T OR DIVIDENDS.

DESCRIPTION.
*

117

BON Ob.

AND

STOCKS

pd. A unpd.

42,300

57,924

$569,233

$512,771

$428,860

$1,275,935
130,751

$1,413,500

$1,410,380
206,234

312,783

$1,406,686
$1,7:6,283
$1,616,614
def.837,453 def. 1,243,512 def. 1,187,754
—(V. 43, p. 48.73, 102.131, 190, 244, 367, 546, 608.634, 635, 774; V. 44
p. 89, 184, 210, 276. 433, 551,652, 654, 681, 781, 807; V. 45, p 142,
271, 272, 369, 400, 573, 641.)
Total disbursements

Balance

Western North Carolina.—(See maj)
of Richmond db Dan¬
Rock, Tennessee
ville.)— Owns from Salisbury, N. C., to Faint
State
line,
190 miles; Asheville to Jarretts, 100 miles; total.
290 miles.
The road
was
financially embarrassed,
and was

purchased April 17, 1875, 1*3' commissioners for the State of North
Point Ter¬
minal Railway A Waichouse Co.
Tn May, 1886, it was leused to the R.
A D. Company.
In 1885-86 gross earnings, $523,740; net. $85,384;
deficit under charges, $53,340.
In 1884-85. gross, $468,507; net, $324.351; deficit under charges, $1,765. Stock. $4,600,000 common and
$4,000,000 pref. The second cons, mortg age for $4,110,000 is held by
the R. A I>. Ter. R. A W. Co., and also $1,325,000 of the 1st consols,
given above. $850,000 of same bonds are reserved to retire the Ists.
Western Pennsylvania.—The road runs from Bolivar to Alle
ghany City, Pa., 63^ miles; branch to Butler, Pa.. 21 railee; total, 84*a
miles.
Completed in 1865 and branch in 1870. a new lease to the
Pennsylvania Railroad for 30 years was made in 1883, and an issue of
$5,000,000 consolidated bonds was authorized. The Pennsvlvania Rail¬
road. lessee, owns $993,050 stock out of the total amount of $1,022,450
and $288,000 of branch bonds. Gross o irnings in 1885. $1,159,514 ;
net, $177,981.
Gross in 1886, $1 347.565; net, $307,542. In Doe.,
Carolina, and subsequently finished by the Richmond A West

1886, paid 3 p. c. div.
White Water.—Vain*,y Junction, O., to
miles. This was formerly the White Water

Cambridge City. Ind., 65
Valley, sold in foreclosure

under this title. Gross earnings iu 1886Elijah Smith, President.
1882-83
Wheeling & Lake Erie.— Toledo, 0.,to Bowerston. O., 174 miles,
12,876,711
1883-84
258,245 and branch to Huron, O., 12 miles. The road was sold in foreclosure
16,512,178
1 3,114,956
665.995
1884-85
14.602,158
11,670,486
619,217
232.135 April 23, 1886, and purchased l).y trustees of the reorganization com¬
1885 86
15,9 4 6,659
239,137 mittee. (See V. 42, p. 537.) New company organized in July. 1886,
10,378,19 4
6 1 7,56 1
with stock of $3,600,000, of which $3,513,400 issued to March 1, 1887.
-(V. 43, p. 369, 432, 636, 670, 738.)
In July, 1887. there was talk of issuing new stock and extending the
Western New York 6c Pcimsyivauia.—{Sec 'dap) - Owns: Buf- load to Wheeling. From Jan. 1 to Aug. 31 in 1-87 (8 mos.) gross earn
alo Division—Buffalo, N. Y., to Emporium, Pa., 121 miles., Larabees.
ings were $480,250, against $376,092 in lS^O: net, $138,017, against
Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y., to Oil $76,889. Gross earnings in 1886, $588,099; net, $129,113. Geo. J.
City, Pa., 138 ; Titusville, Pa., to Pioneer. Pa., 9 ; Mayville, N. Y., Forrest, President, 2 Wall St., N.Y. (V. 43, p. 50; V. 44, p. 118,149;
to Chautauqua,
N. Y.,' 3U> ; Oil City to New Castle, Pa., 86; Tryonville V. 45, p. 26, 85.)
to Union City. 16 miles. Rochester Division—Rochester, N. Y., to Hins¬
Wilmington Columbia Sc Augusta.—Owns from Wilmington,
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford. Pa., to
Klnzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR., N.'C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR,
..

Miles.
131
131
131
131




Passenger
Mileage.
16,201,680

Freight

Mileage.

Gross
Net
Earnings. Earnings.
$654,163 $254,175

May 2, 1878. and reorganized
87, $95,567;

deficit, $5,498.




118

INVESTOR’

SUPLEMNT.
[Vol.
xlv.

Subscribers will confer a great favor by giving

BONDS

AND

STOCKS

CANAL

November, i^87.J

immediate notice of any error

discovered in these Tables.

-

INTBREST OR

DESCRIPTION.
For explanation

of column headings, Ac., see notes

on

first page of tables.

Date
Miles
of
of
Road. Bonds

Size

or

Amount

Par

Outstanding

Value.

Rate per
Cent.

When

Bo nds—Princi¬

DIVIDENDS.

Where

pal, When Due,

Payable, and by Stocks—Last
Dividend.

Whom.

Payable

ft

51

Wisconsin & Minnesota— 1st mortgage
Income

122
94

Chic. Wis. A Minn.—lRt mort., gold
Worcester <£ Nashua <& Rochester—Stock
Bonds, mortgage
w Bonds, mortgage
Nashua A Roch., 1st mortgage
f W. N. &
K.—Mortgage

c*

c/
c;

cl

Zanesville & Ohio- 1st mort., gold ($25,000 p. mile)

....

....

48
....

....

1830

$310,000

$....

640,000
2,8* 0 000

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

....

1873
1875
1874

1886

1,000
100 Ac.

1879

1,000

....

3,099,800
250,000
400,000
575,000
337,000

(?)

CANALS.

14
14
14
184
184

llbtmarle A Chesapeake—Mortgage bonds
Chesapeake <£ Delaware—Stock
"let mortgage (extended in 1886)
Chesapeake <t Ohio—Stock
Maryland loan, sinking fund
Guaranteed sterling loan
"

184
184

Bonds having next preference

Repair bonds, Act 1878

Delaware Division— 1st M. (ext’d 20 yrs. in 1878)..
Delaware <& Hudson—Stock

registered
Debenture loan of 1894, coup and reg
1st M., coup. A reg., on Penn. Div. ($10,000,000)
Lehigh Coal <£ Navigation—Stock
Loan, conv., coup., gold (assumed L. A W. Coal Co)
1st mortgage, reg. (extended at 4*2)
1st mortgage,

1st mortgage,

1886
....

....

....

60

1858

148
148

1871

....

....

339
....

....

registered, railroad

.

.

.

100

.

1,000
1,000

1874
1877
....

1869
1864
1867

lOOOAc.
50
500 Ac.
Var.
Var.

1

ally in January and July. Iu 1884-85 net receipts were $3 12,534: the
surplus income over interest and dividends was $8-4,034; in lw85-80
net receipts were $176,478; surplus $22,872 over interest and dividends.
Wilmington Ac Northern.—Owns from Wilmington Del., to
Birdsboro, Pa., 64 miles; branches, 24 miles; total owned 87 miles;
trackage leased, 5 miles: total operated, 1)2 miles. This company
was organized Jan. IS, 1877, as successor to the Wilmington A Reading
RU. Co., which defaulted on its interest and was sold in foreclosure Doc.
4, 1876. Bonds amounting to $223,700 in small issues were outstand
iug, and a mortgage for $L.000,000 has been authorized to cancel these

for i nprovDinents Gross earnings in 1886, $384,237 ; net
earnings, $54,272; other receipts $1,680.
Paid interest, $12,570;
bonds redeemed, $2,400. (V. 45, p. 614.)
and to pay

from Wilmington to
miles; Scotland Neck

Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smithfield, 22 miles; total, 222 miles; also under construction branch from
Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil¬

mington Columbia & Augusta Railroad for 99 years. The lessees made
default December, 1877,'and the lease was surrendered April 13, 1878.
In June, 1885, this company took a lease for 99 years of the Wilming¬
ton Columbia A Augusta. (See that company above.)
The fiscal year
as follows:

ends Sept. 30.

Tiie income account for four years was

INCOME ACCOUNT.

1893-4.

1884-5.

188"-6.

26,073

$294,631
23,942

$373,141
29,937

$374,100
103,182

$2 6,053

$313,573

$403,078

$477,282

1892-3.

Receipts—
Net earnings
Other receipts
Total

$195,380

Dividends.
Total

«i

Balance, surplus.
-(V. 43, p. 636.)

$205,585

$10,463

J.

A J. N. Y.t Union Trust Co.
J. A D.
Philadelphia, Office,
do
do
J. A J.
J. A J.

Q- J

7
7
2
6 g.

5,000,000

4*2

2,000,000

6

July, 1916
1870
1890
1885

Bait., A. Brown A Sons.
London.

Q-J.

J. Balt., A. Brown A Sons.
J. Balt., Farm. A Meoh.Bk,
J.
Pliila., 226 So. 3d st.
Q-Meh. N. Y., Bk. of Commerce.
do
do
J. A J
A. A 0. N. Y. Office A Bk.of Com.
do
do
M. A S.
J. A D.
Philadelphia, Office.
do
do
M. A S.
do
do
Q-J.
do
do
Q-F.

J.
J.
J.

July 1, 1900

A
&
A

1898

July 1, 1896
Sept. 15, 188T
1891
1894

Sept. 1, 1917
Dec. 9, 1887
1894

July 1, 1914
1897

In July, 1887, a control of allied roads under one management through
the newly orgmized Wisconsin Central Gamp mg, aud new issue of
securities, was proposed, according to the terms given in V. 45, p. 54
In V. 14, p. 807, is an abstract of the annual report for 1886. For
four years the earnings, Ac., were:

1883
Gross

$1,447,798

earnings

Operating expenses...

973,732

957,745

Net

earnings
Rentals, carsorv., Ac..

$474,065
351,405

$471,330
319,650

Balance

$122,660

—(V. 43, p. 48, 309, 432; V. 44, n.
573.)

1835.

1884.

$1,429,075

..

18S6.

$1,461,001 $1,565,313

941,881

1,182,080

$519,123
310,406

$383,233
386,559

$151,679
$208,716 def. $3,326
682, 807, 809; V. 45, p. 26, 240.

-Owns from Abbotsford, Wis., to Chip¬
Falls, 54 miles. Leases Chic. Wis. & Minn. RR., Schleisingerville,
Wis., to Chicago, 122 miles, and branch 8 miles projected.
These
roais form the Chicago division of the Wisconsin Central, and enter
Chicago over the Chicago A Great Western.
Worcester Ac Nashua Ac Rochester,—Owns from Worcester to
Nashua and Nashua to Rochester, 94 miles. This consolidated company
was formed Deo. 1, 1883, by a merger of the Worcester A Nashua and it*
leased line, the Nashua A Rochester.
In October, 1885, a lease of this property for 50 years, from Jan. 1,
1886, was made to the Boston & Maine RR. Co. at a rental of $250,000
and taxes. A financial statement of Jan 1, 1887 was in V. 44, p. 91.
Wisconsin Ac Minnesota,

pewa

Zanesville Ac Ohio.—Line of road from Zanesville, O., to Ilarm&r,
the Ohio River, about 80 miles, of which part is yet under construc¬
tion. Tin* wiiole mortgage :s for $2,000,000 bonds authorized.
The
Mercantile Trust Co. of N. Y. is trustee of the mortgage
A sinking fund will come into operation in 1891, bonds being bought
in the open market at par and accrued interest; in lieu of this, funde
are invested.
on

CANALS.

q
$80,698
$79,365
$30,641
200,000
(8%)
124,914 (8%) 166,592 (8%) 166,592

(0%)

7

1*4

Albemarle

Disbursements —
Interest ....'

191CT

M. A S N. Yo"k, J. B Colgate. March 1,1916
J. A J
Worcester, Office.
July 9, 1887
A. A O. Boat., Globe Nat. Bank. April 1, 1893
Feb. 1, 1895
do
do
F. A A.
do
do
A. A O.
April 1, 1894
Jan. 1, 1906
do
do
J. A J.
Feb. 1, 1916
New York; Agency.
F. A A.

7

747,000

1,

6
3
5
5
5
4
6 g.

6
5
6
6
6

12,676,700

York, J. B. Colgate. Jan.

J.

5

1,699,500
493,000
800,000
24,500,000
5,549,000
4,829,000
5,000,000

1,000

of South Carolina, Lane, 3. C., to Sumter, S. C., 33 miles. Total oper¬
ated, 227 miles.
Road was sold iu foreclosure, October, 1870, for $860,500, aud com
pany reorganized under present style.
Iu June. 1885. the road and property of this company were leased for
99 years to the Wilmington A Weldon, the lessee to pay all interest and
fixed charges aud 6 per cent dividend on the stock, payable, semi-annu¬

Wilmington Ac Weldon.—Road extends
Weldon, N. (J.. 163 miles; branch to Tarboro, 17

500,000
2,079,213
2,602,950
3,851,593
2,000,000
4,375,000

50
500 Ac.
25
500 Ac.
500 Ac.
500 Ac.

A J. N.

7

$247,290
$71,283

$245,957
$157,121

$338,353
$138,929

Ac

Chesapeake.—Canal between Chesapeake Bay

and Albemarle Sound. N. O , 14 miles.
Gross earnings 1881-85, $70,000; surplus over interest, $5,000. Pres’t, Marshall Parks, Norfolk, Va.

to Chesapeake City. Md.
the Treasurer and an over-issue

Chesapeake Ac Delaware.—Delaware City

In July, 1836, a heavv defalcation by
of bonds was discovered, amounting to
was

$600,200, and in Sept., 1^86, it
proposed by the company to retire old bo >ds aud issue $2,602,950

new 5 per com bonds maturing in 1916, thus covering the over-issue.
(See V. 43, p. 367.) Iu the year ending May 31, 1887, gross receipts
were $199,212 and net $145,184 ; surplus, $14,805.
(V. 43, p. 22, 49.
367; V. 45, p. 52.)

of

Wisconsin Central Company.—(See Map.)—' his company was
organized m 1887 to control tiie operations of the Wisconsin Central
and its allied lines under one management. The ro.uls thus controlled
would l e as follows: Wisconsin Central, 3 i4 miles; Milwaukee A
Lake Winnebago, 65 miles; Penokee, 50 miles; Wisconsin A Minne¬
sota, 54 mdes; Chicago Wis. A Minn., 122 miles; Pack. A Mon-

tello, 7 miles; Minnesota St. Croix A Wisconsin, 110 miles; total, 752
miles. This company proposed to purchase, so far as possible, the secu¬
rities of the Wisconsin Central, Wisconsin & Minnesota, Penokee. and
Minnesota St. Croix & Wisconsin railroad companies. Against the
above m les of road, it issues its securities as follows: First mortgage

bonds, $12,000,000 at 5 per cent; income bonds, $9,000,000 at 5 per
cent, non cumulative; preferred stock. $3,000,000 at 6 per cent, cumu¬
lative; common stock, $12,000,000. It offered to the Wisconsin Cen¬
tral Railroad owners to exchange their bonds and stock on the terms
stated in V. 45, p. 24.
Central Railroad.—Owned on Dec. 31, 1886, the
main line aim branches Mcnaslia. to Ashland, 253 in.; Stevens Point
to Portage Citv, 71m; branches and spurs, 25 m.; total owned, 349 m.
Leased: from Neenah to SchleisingerviRe, 64 miles; Packwaukee to
Montello, 7 miles; operated under contract, Milwaukee to Sehleisingerville, 33 miles. Total operated. 450 miles.
Wisconsin

In

January, 1879, the Wisconsin Central Road was taken

possession of

trustees for bondholders, who still operate it.
There was a
land grant of 831,700 acres, of which 177.816 acres had be-n sold to
Dec. 31, 1886, for $554,687. Litigation is pending on $200,000 bonds
as to preferences claimed by one holder.
Interest on the second series is
payable J. and J., but dependent each time on the net earnings of the
half year ending six moyiths before. The stock of $2,000,000 preferred

by the

$9,435,500 common was deposited In trust with Stewart and Abbot,
Trustees, to be voted on until all interest should be earned and paid on
bonds. Trustees’ certificates for new stock (without voting power) have
been issued to the old stockholders, which oass as a delivery on sales.
The Milwaukee A Lake Winnebago RR from Neenah to Sclileisingerville, is leased for’99 years; the rental is 37*2 per cent of gross earnings
up to $175,000 per year, all surplus to go equally to lessor and lessee,
and the bonds ate issued subject to this lease.
From Milwaukee this
company makes use of Chic. Mil A 8t. Paul tracks 24 miles; an extension
from Schleisingerville to Chicago, 116 miles, is known as the Chic.Wis. &
Minn., and is a close connecfingline of the Wis. Central, though the latter
is not responsible for its obligations.
and




.

Chesapeake Ac Ohio.—This company was assisted with loans by the
to meet Its interest. In a
1881) declined to appoint a
receiver, but ordered the company to report at stated times its receipts
and payments.
Iu 1885, gross earnings were $135,929; expenses,
$184,bt>7. Iu 1886, gross earnings wore $94,138 ; expenses, $223,415.

State of Maryland. It has long been unable
suit against the company the Court (January,

Delaware

Division.—Leased to Lehigh Coal & Navigation Co. afc
cent a year on stock. 29,663 shares have
Coal & Navigation stock, leaving only

interest on bonds and 4 per
been converted into Lehigh

3,004 shares unconverted.
Delaware Ac Hudson.—The Delaware A Hudson Canal Co was
chartered April 7, 1823, and the canal from Rondout, N. Y., to Honesdale, Pa., was completed iu 1828. Tho company owns the

following

railroads, viz: Lackawanna A Susquehannah, Nineveh, N. Y., to Jeffer¬
Junction, Pa., 22 miles; Valley RR., Carbondale to Scranton, Pa.f
17 miles; Union RR., Green Ridge to Mill Creek. Pa., 17 miles; Ply¬
mouth A Wilkesbaire RR. and bridge, 3 miles; Gravity RR., Olyphant
to Flonesdale, 56 miles; total owned, 114 miles; track of Jefferson RR.
used by contract, 35 miles; total operated in Pennsylvania. 150 miles.
Phis company is among the largest miners and carriers of anthracite coal,
The stock was increased to $30,000,000 to pay off the bonds duo in
1 881 and 189L
Tin remaining $5,500,000 in treasury will be issued In
1891,to take upau equal amount of 7 per cent bonds. To shareholders of

son

May 24, 1883, there was

allotted 35,000 shares to be paid for at par.

To shareholders of Oct, 1, ’86, there were allotted 10.0 >0 shares.
The. annual report for 1886 in V. 44, p. 243, had the following:
The President, in commenting upon the result of operations in
which showed a trifle over 5 per cent on tiie stock savs: “ This result
is better than could h ive been reasonably anticipated, considering the

1886,

the

and
in the

low price at which coal ruled lor the larger part of
year,
could *.nly h ive been reached t»y tho exercise of strict economy
various branches of the company’s service. A very marked improve¬
ment also in tho business of the leased lines has ai led the geueral out¬
come, and the loss of $313,329 on these roads as reporto i for 1885
verv

has

heeu

reduced during the past year to

$21,694.

tho comparatively small sum o<

V

f

Subscribers will confer a

great favor by giving
itrn

explanation of column headings, &c., see
on first page of tables.

Lthigh Goal <6

notes

ao

103
103
103

Morris—Stock, consolidated
Pref rred stock
New mortgage (for $1,000,000)
Preferred stock scrip dividend

326

Pennsylvania—Stock

General mortg., interest guar'd by Penn. KR—
Mehuylkill Naviaation—Stock, common
Preferred stock
1st mortgage, extended
2d mortgage
Mortgage bonds, coup, (payable

of

Par
Value.

1867
1871
1872
1884

Extended, 1877..

General mortgage

Size, or

of

Navigation—(Continued)—
($2,810,000 assumed by other co’s.'

Consolidated mortgage loan
Greenwood 2d mortgage, reg.

326
108

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

Amount

Outstanding

by P. & R.)

1864

JiuqueAanna—Maryland loan, 2d mortgage

Busquehanna Canal, common bonds, 3d mort
do
pref. bonds, 1st mort

pref., 1st T. W. priority b’ds.
bonds of 1872, 4th mort..

*

*

*

*

1839
1859
1884
1884
1872

1884.

1883.

$
$
$
$
9,575,362 8,213,157 7,201,019 7,399,095
Canal tolls
52,403
47,240
51,551
58,410
Miscellaneous profits
287,038
486,929 ) 7q9 71fl
Roq «U'7
interest on investments...
257,541
284,464 5
’
'
892,804
Coal on hand (Dec. 31)
745,436
649,905 332,65
Railroad earnings in Penn.
694,941 841,66888,559
830,542
Receipts—
Bales of coal

Proflt

on

1,905

leased lines

Total
Disoursements—

;

11,808,244 10,755,136
$
$
-

9,393,162

$

9,265,637
$

745,436 . 892,804
619,905
4,549,480 3,975,297 4,239,907
592,803 873,517
557,500
1,455,805
826,987 767,151
Interest
1,321,941 1,198,885 1,032,768 1,069,067
Taxes and miscellaneous.
546,624
585,416
522,777
468,929
Boss on leased railroads
21,695
174,490
313,330
Balance
1.995,843 1.488,094 1,186,396 1,175,485
Total
11,808,244 i.O,7oo,136 a,393,162 9,265,687

Coal on hand Jan. 1
492,924
4,996,195
Mining coal
Goal transportation, &c...
811,873
Canal freight and expenses 1,642,844

EACH FISCAL YEAR.
1834.
1885.

GENERAL BALANCE AT CLOSE OF

1883.

Canal
Railroad and equipment..
Real estate
Mines and fixtures........

$

$

$

Assets-

6,339,210 6,339,210 6,339,210
6,957,188 6,463,684 7,134,018
9,035,163 9,325,365 9,628,325
2,796,329 2,792,417 2,795,576

1886

$

6,339,210
7,257,329
9,725,394
?,792,511

J. Sc D.
J. & D.
F. & A.

Philadelphia, Office.

1897
June 1,1911
1892
1924
Aug. 7, 1887

J.

1,000

1886

1885.

Dividend.,

*6

1,000,000
1,326,000

PROFIT AND LOSS.

Whom.

35o.
70o.
6
6
6
6
6
7
6
6
6
6
7

228,000
756,650
628,100

Comparative statistics for four years:

Payable, and by Stocks—Last

684,912
3,288,050
1,691,730
3,990,392
1,200,000

1,000
1,000
1,000

227,500

97,810
250,000

1,000

Where

2,934,000

103,164

4,501,200

500
500

When

Payable

2
5
7
7

4*2

&

J.

....

.

Pliila., 233 So. 4th St.

Philadelphia, Office.

.

Q. -M.
J. & J.
J. & J.
M. & N.
M. Sc N.
M. & N.
J. & J.
J. & J.
J. Sc J.
J. & J.
J. & J.

do
do
do
do
do

do
do
do
do
do

do

do

Aug. 7. 1887
April 1, 1906
Feb., 1889

July. 1910
Feb. 15, 1884
Feb. 15,1884

March, 1897
1882 to 1907
1895
May, 1880

May, 1913

do
do
Phila. and Baltimore.
do
do
do
do
do
do
do
do

May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902

r

-

:•

Bonds—Princi¬
pal,^When Due.

do
do
do
do
do
do
Q--F.
F. Sc A. Leh. Val. RR. Co., Pliila
do
do
F. Sc A.
do
do
A. Sc O.
do
do
F. & A.

1,025,000
1,174,000
1,000,000

’76-’85
1,000
1869 various.
50
1870
1,000
50
50

1863

6 g.
7
7

643,000
2,035 000

100
100

1870

-

Rate per
Cent.

$4,653,000
2,465,000

1,000
1,000

Improvement bonds
Boat and car loan, (payble by P. & R.)
)
Boat and car loan (
do
do

;

Tables.

ImmedJateJnotlce of [any error discovered in these

UoiXjjD

Canal. Bonds

Mort. loan. g.

do
do

[VOL. XLV.

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

SUPPLEMENT.

INVESTORS’

120

1884.

Disbursements—
General and legal expenses
Rent and taxes Nesquehoning Val.RR
Rent and taxes Delaware Div. Canal
Taxes
Interest account

Balance of earnings
Less sink. fd. of 10 p. o. p. ton on coal
Less depree’u on coal, impr* v’m’ts,&e.

$58,460
97,050

69,921
80,078
954,069

1885.

1886.

$59,454
73,081
61,965
80,039

$58,948

844,488

844,692

75,526

39,581
89,739

$1,159,578 $1,119,027 $1,108,486
$888,973 $965,649 $620,021
$93,559
$89,419
$80,717
76,026

$156,743
$732,230
$732,230

Total

8arplus for year

665,934

Balance to credit of div’d fd. Jau. 1.

86.869

$180,427

$685,222
679,936

$39,41.9
$530,602
633.943

$1,398,164 $1,365,158 $1,214,445
$570,408
$681,315
$718,228

Dividends
Rate of dividend

6

Balance to credit of div’d fund Dec.31

-

$679,936

6

$683,843

41$

$644,037

The annual report for 1886 in Chronicle, V. 44, p. 274, said:
The earnings of the Lehigh Sc Susquehanna RR. system increased
$78,304 06, and were larger than in any year before, with the exception
of 1883.
The chief gain was in freight and express earnings, and, while
the system of rai roads does not extend beyond Scranton, w* have been
able to get an increasing amount of Northern and Western business, as
well as to share in the increased volume of local freight trattio. so that
notwithsrand ng the steady decrease of freight rates for some years, our

earnings from this source have larg*dy increased, having averageItn
670,678
790,779
934,856 1,007,821 the four years 1875 to 1878 $278,324 09, in the four years 1879 to 1882,
1,022,938 1,022,938 1,022,938 1,022,938 $198,708 08, and in the four years 1833 to 1886, $729,579 51. The coal
520,164
tonnage also increased, being, with the exception of that or the year
New York & Canada RR.. 3,597,074 3,597,074 3,597,074 3,597,074
1883, the largest that has ever p issed over the road, and only falling
Cherry Yal. & Sharon RR.
300,000
300,000
300,000 300,000 3,994 tons below that of 1883. Our to al revenue for 1886 was $1,728,52,113
Meehan. «fc Ft. Edward RR
51,928
59,131
59,972 507, a decrease since last year of $253,168, which is more than ac¬
Snhen. <fe Meehan. RR
211,765
212,993 counted for by the lessened profit on coal, which was $261,003. The
211,280 -211,527
Coal on hand Dec. 31
745,436
892,804
649,905 332,652 disbursements show a decrease of +10.540, ant the remainder shows a
Advances to leased lines..
921,663 1,502,789
330,737 861,729 decrease of $245,627. From this remainder $89,418 has been deducted
Advances ou coal royalties
6* 8.724
698,125
720,055 756,040 for the coal sinking fund, an l two dividends, one of two aud one-half
Miscellaneous assets
3,944,549 3,372,061 2,740,040>'2,586,396 per cent and one of two per cent, amouioing together to $570,408, have
Telegraph and Car Co
69,410
43,035
43,035
14,735 been pai l, which drew on the dividend fund to the extent of $39,806.
Bnpplies,tools,&e.,on hand 1,466,143 1,611,254 1,185,028 1,135,412 The work of developing our coal lands has been pushed forward vigor¬
Cash and bills receivable.. 3,914,976 2.823.813 3,964,939 4,459,007 ously thr nigh the year, and the r ite of production of our mines can he
Total assets
43,213,038 41,8-13,804 41,656,642 42,461,213 fully maintained during the coming season. (V. 43, p.634; V. 44, p.
Liabilities—
$
$
$
+>
274; V. 45, p. 113.)
Stock
20,000,000 23,500,000 23,500,000 24,5c0,000
IMorris.—Leased April, 1871, to Lehigh Valley Railroad for 999
Bonds
18,763,000 15,378.000 15,378,000 15,378,000
812,002
694,392 years. The lessees assume bonds ami scrip, and pay 10 per cent per
Miscellaneous accounts... 2,444,732
778,072
2,005,306 2,187.732 1 966,640 1,888,821 annum ou pref. stock and 4 per cent on consol, stock.
Profit and loss

Coal-yard, barges, &c
Back. Sc Susquehanna RR.
Albany & Susq. RR

Total liabilities
*

These

43,213,038 41,843,804 41,656,642 42,461,213

Central Railroad of New Jersey

Schuylkill Navigation.—Leased from June 1, 1870, to Philadel¬
phia Sc Reading for 999 years. The unpaid rental by P. Sc R. to Deo.
al, 1886. was $1,287,993. The P. Sc R. has paid some of the cou¬
pons and purchased'Others, but in Dec., 1886, interest was not paid,
ant in March, 1887, the P. Sc R. tlnvat -ued to relinquish the canal
aud withdraw its boats. By assent of nearly all the holders, an adjust¬
ment of the debt has been made under the Pail. Sc R adiug re organiza¬
tion plan. The report for 1886 (V. 44, p. 210) gave a statement of the
company’s relations to the P. Sc K. co mpany and a history of its pros¬
perity in former years. The loss to the R ailing in 1885-86 was $477,614; loss in 1884-95, $444,292.
(V. 44, p. 752, 782, 809; V. 45, p. 143,

assumed (in purchase or equipment) $2,310,000 of the gold loan due
1897 and leases the Lehigh Sc Susquehanna Railroad. The Lehigh Sk
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897
And $771,000 (all) of the convertible gol loan due 1894.
Bonds matur¬
ing 1884 were extended till 1914 at 4^3. The modifications of lease
•Dder the new

arrangement with Central of New Jersey are referred to
The Board of Managers’ report lor 18»6 had the follow¬
receipts and disbursements:

in V. 45, p. 113.
ing statement of

Receipts—
From railroads and Nesque.

Total receipts




1884.

1885.

1886.

97,969

65,971

50,220

370,101

396,108

135,104

63,330

52,524

Tunnel. $1,458,200 $1,459,035 $1,464,381

Lehigh Canal, inol. water powers
Delaware Division Canal
Net profit on Lehigh Coal
Royalty on coal mined by lessees,
revenue from rents, &c., &c

which

guarantees interest on bonds. Earnings in 1886, $281,385; net, $79,537;
interest, $170,610; loss, $91,103. Earnings in 1885, $274,207; net,
$128,765; Interest, $175,350; def., $46,5S4.

$72,545; 6,500 shares Albany Sc Susquehanna RR,, $650,000; 16,078
shares Rensselaer Sc Saratoga RR., $1.007,80n; sundry stocks, $2 56,050.
—(V. 43, p. 163,'398, 635; V. 44, p. 184, 210, 2l2, 243. 335.)

Lehigh Coal Sc Navigation.—The

Pennsylvania..—Worked in interest of Pennsylvania RR.,

following: Sundry bonds,

miscellaneous assets include the

58,951

573.)

11,038 def. 1,995

Susquehanna.—Leased aud operated by Philadelphia & Reading
and half of net earnings. Under the
80,797 Reading plan, the stock andbond holders have generally absented to an
exchange of securities. Loss to Reading in 1885-6, $239,784; loss in

$2,048,551 $1,981,676 $1,728,507

Railroad for interest ou bonds

1884 5, $230,657.

(V. 44, p. 809j

November,

STOCKS

MISCELLANEOUS

1887.J

Subscribers will confer a

immediate notice of any error discovered in these

great favor by giving
i

DESCRIPTION.
For

&o., see notes on

explanation of column headings,
first page

of tables.

Express—Stock
American Bell Telephone— Stock
Amer. Tel. <& Gable—Stock, guar 5 by West. Union
American Goal (Maryland,)— Stock.
American Gotton Oil Trust—Certificates
American Express—Stock
Cameron Iron <£ Goal Go
Canton Company—Stock (44,300 shares)

...

1880

1887

—CN

9,802,100
14,000,000

3

1.500,000
4' ,720.?oo

2

18,000,000
3,000,000
719,875
4,006,600

3

consolidated, convertible.

10,000,000

1,000

3,499,000

100

4,700,000
1,000,000
6,000,000
10,250,000
2,444,500
35,430.060
291,000

1,000
1,000
100

658.000
100

j 1881

Land^Co.—Bonds (income)

Equitable Gas Light Co.—Stock.

Jonds.
B(
Cold (£ Stock Telegraph - Stock
Bonds
—
International Ocean Telegraph—Stock.
Iron Steamboat Company—Stock
Bonds

1,000
100
100

500

1881

500

Express.—No definite information.
American Bell Telephone Co.—See report for the year ending
Dec. 31, 1886. in Chronicle, V. 44, p 433.
In 1886 paid 16 percent
dividends, including an extra dividend oi 4 per cent. In 1887 an extra
dividen t of 4 per cent was paid Aug. 15. (V. 41, p. 433 )
Adams

American Coal.—There are mortgage bonds for
annual report for lstf6 gave the following information :

$444,839; total expenses and
-(V. 44, p. 274.)

3,000.000

$200,000. The
Income, 1886,

dividends, $442,857; balance, $1,981.

American Cotton Oil Trust.—This is a “Trust” formed to con¬
trol a large proportion of the cotton tseed oil mills of the United States.
The Board of Management consists of nine trustees, of whum three are
elected each year. The title deeds of the several properties owned are

651,000
500,000
4,550,000

3, <100,000
1,000,000
5,000,000
500,000
3,000,000
2,000,000
500,000

When

Payable
.-M.
.-J.

2

$12,000,000

100
100
25
100
100
100

Too
1872

Consolidated Gas (N.Y.)-8tock
BoDds, Municipal Gaslight Co
Bonds, Metropolitan Gaslight Co
Bonds, Knickerbocker Gaslight Co
Cumberland Goal <£ Iron— Stock
Detroit Mack. £ Marquette

Outstanding

Rate per
Cent.

$100

100
100
100

Consolidation Goal of Maryland—Staffs...
mortgage,

Amount

16*4

Central i£ South American Telegraph— Stock
Chartiers Valley Gas—Stock
Colorado Goal <£ Iron—Stock
1st consol, mortgage, gold
Columbus & Hocking Goal (6 Iron Go.— Stock
lstM.,g., s. f’d (on 13,351 acres I'd, mines & b’d’gs)
Commercial Gable—S:ock
1st

INTEREST OR DIVIDENDS.

Date
Size, or
Par
of
Bonds Value.

Adams

121

BONDS.

AND

Q'.-xM.

1*4
1

Q-F.

J.

<&

QQ-

l*n
2^

pal, When Due.

Company’s Office. Dec. 1, 1887
Boston. Compy’s Office. Oct. 15, 1887
N. V., West. Uniou Tel.
8ept. I, 1887
Mar. 10, 1887
N. Y., 1 Broadway.
New York Olfice.
Aug. 1. 1887
N. Y.,

Pittsburg.

Oct.. 1887
Oct. 27, 1887

Office.! Feb. 1, 1900

New York Office.

F.

<fc A. N.Y., Company’s

6 g.

J.

<fc J.iN. Y.. Central Trust Co.

o

7
6
6
6
7

July 1, 1887

Company’s Office.

Tg.
75c.
6

Stocks—Last
Dividend.

Where Payable, and by
Whom.

J. N. Y.,

-j.
-J.

Tables.
Bo ruls—Princi¬

1917

N.Y., Co.’s Office, 71 B y Jan. 28, 1887
Jan. 1, 1897
do
do
J. & J.
N.Y., Office,4 Irving PI. June 15, 1887
M. & *N. Farmers’ Loan & Tr. Co. May 1, 1888
do
do
Aug. 1, 1901
F. & A.
J. & D. N. Y., Company’s OlHoe. June 1, 1898
(?)
A. & O. N.Y., 19 Courtland St.
A. Ac O. N. Y
Metrop. Nat. Bk. Oct. 1, 1911
Oct. 15, 1887
New York Office.
Q.-J.
N. Y.. Mercantile Tr. Co.
N. Y., West. Union Tel.
Oct., 1887
1895
do
do
May
M. & N.
Oct,, 1887
Q.-J. N. Y./West. Union Tel
,

1^
6
1^

Q.-j.

Nov.

2k>
J.

6

& J. N. Y., First Nat.

Bank.

1S85
Less interest on bouds
Less interest, discount

...

and exchange....

Surplus
Increase iu 1886 over

Jau. I,

1885

1, 1887

July 1, 1901

1886

$209,940 $209,940
2.432
$212.-*72 $209,940
sur. $25,744 $133,321

$106,577

$64,840 $60,657
Royalties earned, included in opei*. expenses ...
In the real estate departm mt the earnings are wholly" from rentals of
houses, lauds, &c., containing no receipts from laud sales. (V. 44, p
400.)
CoJuinbug Sc Hockiug Coal Sc Iron Co,-Tne comnauy was
organized at Columbus, O., Jau. 26, 1883, and Its general ollices aro at
Columbus, O.; Mr. Pereival Farquhar,President. The N.Y. offiot- is at 10
Wall St.
Tue Central Trust Co. of N. Y. is trustee of the mortgage.
After May 1, 1888, two cents on every ton of coal from the mortgaged
premises goes to a siuk ng fund. Bonds tendered may lie purchased at
not above L05.
The company owns large coal and iron properties, with
extensive works thereon, iu Oldo, and a full description of these was

deposited with the trustees, who issue their trust certificates of $L00
each, and these are dealt in at the Exchanges. Up to the close of The
year end ng May 31, 1837, the net earnings were $2,439,720, and the
balance of unsold products at close of the year were $3,878,660; cash on
baud, $757,819. Dividends of 1 per cent quarterly for the ensuing published in the Chronicle of Fob. 26, 1887, V. 44, p. 278. The total
property and assets on Jan. 1, ’87, as per balance sheet, were $5,657,535.
year were declared, but in Oct., 1887, the company announced that
Tin gross earnings, operating expenses and not earnings of the oom¬
dividends would be suspended. Mr. J. V. Lewis resigned from the
presidency. N. Y. Office, 18 Broadway, N. Y.—(V. 45, p. 25, 538, 564.) pany from March 1, 1883, to April 1, 1887, were as follows:
Gross earn’gs.
Oper. Exp. Net earn’gs.
American Telegraph Sc Cable Co.—Owns two cables between
Date.
$
$
$
Bennou Cove, England, and Dover Bay, Nova Scotia. The stock of
March 1, ’83, to April i, ’84.. 1,667,282 10 1,527,747 79 139,534 3L
$20,000,000 was 70 per cent paid up, and in April* 1882, a pooling ar¬
8 >0,5s4 90
700,041 91 100,542 96
rangement was made with the other cable companies for 38 years, by April 1.’84, to April 1,’85..
1, No, to April 1, ’86.. 1,220,924 37 1,060,505 88 160,418 49
which this company receives 22kj per cent of combined revenues while April
April 1, ’86, to April 1, ’87.. 1,44 2,265 00 1,278,075 00 164,220 00
both its cables are working and 12 k» per eent if only one is working,
which percentages hold good for one year after any breaking of the -(V. 44, p. 278, 553.)
cables; if not repaired within that time the percentages are reduced
Commercial Cable Co.-This is popularly known as the Maokay
according to the time that the cables remain broken. Then this com¬
Bennett Cable Co.
In September, 1887, the stock was raised from
pany’s cables were leased to Western Union for 50 years, with a guar

$4,000,000 to $6,000,000.
the stock issued—$14,00 J.000.
Consolidated Gas of New York.—This company was organized
Cameron Iron Sc Coal Co.—This company" was organized by let¬
Nov. 11, 1884, under chapter 367, laws of New York, 1884. The com¬
ters patent of the State of Pa., and filed its certificate Dec. 7, 1886.
The lands and propel ty are near Emporium, Pa., and formerly belong d panies merge l in it were the New York Gaslight, the Municipal Gas¬
to the Cameron Coal Co.
Nicholas C. Miller, President, N. Y. See V. light,the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem
Gaslight The total stock was $39,078,000, of whioh $3,647,940 was
44, p. 117,149,184.
reserved for working capital and for indebtedness of old companies.
Canton Company (Balt.)—The capital stock, by changes made
Consolidation Coal.—Annual report for 1886 was in V. 44, p. 21(X.
subsequent to the original issue, became practically only $16 25 par
1886.
per share, and was reduced by purchase and cancellation to 44,300 The gross receipts from mines, railroads, rents,
1885.
lhares. A brief history of the company was given in V. 30, p. 117. The
&c (inel’g value of st’ok of coal on hand), were. $2,055,313 $2,039,427
oompany owned the stock of the Union RR. Co. and guaranteed its bonds, Tot. expen’s of every kind (excl. of int &sink. fd.,
but sold this stock ($600,000) to the Northern Central RR. in April.
but incl. steel rails & all extraordiu’ry outlays). 1,750,772
1,783,442
1882, for $594,000. The Union RR. siuking fund of $689,885 remained
Net receipts...
$255,985
$304,54)
the property" of Canton Co., but is held by the trustees till bonds have
The int. and sink. fd. in 1886 took $166,831; balance, surplus. $39,153
teen paid oil at maturity. The last of Canton Co. bonds were paid
Consolidated mortgage bonds are hold to retire old bonds. This oom¬
July, 18s6.
pany guarantees also 2d mortg. bonds of the Cumberland & Pennsyl¬
Central Sc South Am. Telegraph.—Line from Vera (h-iiz, Mexico, vania, and assumes $135,000 of the Union Mining Co.’s bonds. The
to Chorrillos, Peru, with branches, 3, luO miles of cable and 335 miles of total bonded debt on lamls and railroads is $2,417,500. (V. 44, p. 210.1
land lines.
Completed November, 1882. Connects at Lima with West
Detroit Mackinac Sc Marquette
Land Co.—Owns about
Coast Tel. Co. of America, having 1,700 miles of cable to Valparaiso,
and at Vera Cruz with Mexican Telegraph Co., Stock is $5,000,000; no 1,100,000 acres of laud in Northern Michigan, along the line of the D.
bonds. Surplus revenue Dec. 31, 1886, after providing for dividend, M & M. RR., which road was sold in fo eclosure Oct. 20, 1886. This
company was formed, and the land grant bonis retained their lien upon
$154,179. James A. Scrymser, Pres’t, N. Y. (V. 44, p. 274.)
the lands covered by their mortgage, and are entitled to 35 per cent in
Chartiers Valley Gas Co.—This company
owns upwards of new common stock of the Duluth South Shore & Atlantio RR. Co.
20,00j acres of la. ds in the counties of Allegheny, Washington and Lands are free from taxation. James McMillan, Detroit, President.
Westmoreland, Pa., for production of natural gas, and supplies the gas
Equitable Gas Eight Co.—Incorporated March 9, 1^82. Owns
in Pittsburg and Alleghany" cities.
See full statement in V. 44, p. three
bio. ks between 39 th aui 42d St-*., First Ave. an l East River; also
552. Jas. A. Chambers, Pivs’t; John H. Dalzell, Treis., Pittsburg. Pa.
32 lots between 58th an l 59th Sts and 10th and 11th Aves Total assets,
—(Vol. 44, p.,400 )
Jan. I, 1887, $3,128,242; mains about 79 miles; gas works valued at
Colorado Coal Sc Iron.—This company, with headquarters at Col¬ $2,032,520; real estate at $1,159,265. There were also Jan. 1, 1887,
R. M. CL
orado Springs, Col., was a consolidation Dec. 13,1879, of the Central $ o0,0 )0 certificates of Indebtedness. Olfice, 340 Tuird Ave
Colorado Improvement Co., the Colorado Coal Uc Steel Works and the Graham, President.
Boutneiu Colorado Coal & Iron Co. Stock is non-assessable. In Nov.,
International Oceau Telegraph Co.—The Western Union Co.
1887, a decision in regard to certain land titles was ma le in favor of operates the line oy contract for 99 yeais from Jan. 1, 1882, paying 6
this Co.
per cent per year on stock.
An abstract of the report of 1886 was in V. 44, p. 400, showing gross
Gold Sc Stock Telegraph Co.—Operated by West. Un. Tel Co. bv
and
income
below
earnings
net
as
stated.
contract for 99 years from Jau. 1, ’82, at 6 per oent per annum on stock

silty of 5 per cent per annum on

—1885.
Gross

-

*

Net

department

Coke department
Iron and steel dep’t
Iron mines dep’t
Real estate dep’t
Miscellaneous earn’gs....
Totals

and bonds.
Net

Earnings.

Earnings.

$757,460 $134,030 ) $1,197,270
322,427
110,077 )

$285,400

Earnings. Earnings.
Coal

■1886.
Gross

562,236 loss26,427
7,937 loss.2,096
24,651
7,059

r

4,729

$1,679,440

4,729

$227,373

690,086

654,346
loss.976

24,953
5,140

8,308

$1,917,449

$333,611

5,140

INCOME ACCOUNT.

Net earnings
Add income from investments, &c
Total




1885.

1886.

$227,373
10,743
$238,116

$333,611
8,650

$342,261

Iron Steamboat

Co.—Property consists of seven

iron steamboats.

Stock, $2,000,000. In year end¬
ing Sept 30, 1887, gross receipts were $365,868; net, $36,017; divi¬
dends, 2*2 per cent, (V. 43 p. 452; V. 43, p. 642.)
Lehigh Sc Wilkesbarre Coal.—This company was organized Feb.
6,1874. It is controlled by the Central RR. of New Jersey throngh
ownership of a majority of the stock, and the Central of New Jersey
owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
income bonds.
The L. & W. Coal Co. also assumes and counts as part of
its funded debt $747,50.) bonds due 1894, aud $500,000 bonds due 1897,
of the Lehigh Coal & Nav. Co. The company was in receiver’s hands
with Central of New Jersey, arid in March, 1882, the receiver was dis¬
charged and property returned to its stockholders. Mr. W. H. Tilling
hast, Pres’t, N. Y. City. The annual report for 1886 was in V. 44, p. 274,
-{V. 44, p. 274.)
Bonds

and. stock listed in June, 1882.

SUPPLEMENT

INVESTORS’

122

[Vol, XLV.

Subscriberse
will confer a greatl
favor by
giving immediatea
notice of any errorT
s
b
discovered in these

DESCRIPTION.
For

explanation of column headings, Ac., see notes on
page of tables.

Date
of
Bonds

first

Inc’rne bds,reg.(not cum.) $2,353,000
Marivosa Land A Mining— Stock
Preferred stock

1875

Bond
Mexican Telegraph—Stock
yew Central Coal—Stock
.V. Y. Mutual Telegraph—Stock, guaranteed 6 per
1st mortgage bonds, gold, guar, by West. Union
New York A Perry Coal A Iron Co.—Stock.
Kew York A. Texas Land (Limited)—Stock
Land scrip receivable 75 per cent for lands

cent

1881

'

Oregon Improvement Co.—Stock

held ins. f., but draw int.

1880

*

(for $10,000.000)
Poughkeepsie Bridge.— 1st mort., gold, for $5,000,000

Mariposa Laud Ac Minins;.—There are outstanding
lures, the balance being owned by company. Litigation
progress many years and notliing done on the estate.

1886

6
6 & 7
7

366.409
3,472,300
10,000,000

5, 6 & 7

1,000

7

100
100
25

161,000
1,434,400
5,000,000
2,500.000

1,000

5,000,000

100
50

3,000,000
1,500,000
1,006,< OJ
2,500,000
1,180,000
7,000,000
2,0 -0,< OJ
5,000,000
20,000,000

1

5,000,000

4
1

100

1,000
100
50
50'

J.

1,000

J.l

&

IsS t.

1878 under laws of

New York & Texas Land—This company took the lands granted
to the International and Houston A Great Northern railroads, about

given in settlement to the boldeis of con¬

June30,1887, had 2,303,971 acres unsold.

New York.

-Oregon Improvement Co.—This company owns $3,000,000 stock
A Transp. Co.; $575,000 stock of the Columbia A
Puget Sound RR.; $1,969,900 stock of the Pacific Coast 8. 8. Co.;
Floating debt Nov. 30, 1886, $70-<,230, and assets $685,219.
The
$2,000,600 pref. stock to pay for improvements, Ac , was issued .Time,
1887.
(See, V. 44, p. 654). For year endiug Nov. 30, L8S6, gross earn¬
ings, $2,934,618; net. $726,003,. From Dec 1, 18 <6, to Sept. 3o in
1887 (10 mos.). gross earnings were $ * 235,901, against $2,355.8- 5 in
1885-6 ; net, $8-9,455, against $578,459. (V. 43, p. 49, 191, 308, 459,
579,746; V. 41; p. 91, 212, 654, 752,809; V. 45, p. 53, 84, 211, 3o9,
Of the Seattle Coal

j

New Y'ork, Office.

J. & J. N. Y., Went. Un. Tel. Co.
M. A N.jNew York, 1st Nat. Bk.

Q—J.

8
J.
J.
J.

j

New York.

!

New York Office.

&
A

J.
J. N. Y. West. Un. Tel. Co.

A

J.;'

J. &

do

do

Q.—F.

!

N. Y., 1 Broadway.

....

6 g,

July 1, 1837
May 1, 1911
Oct. 31, 1887
Aug. 9,1887

July 1, 1887

Dec.

1, 1910

Sept. 15, 1887
Se

t. 1. 1887
Nov. 25, 1887

Pittsburg.

M’tlily

*6*

Oct., 1887
M’ch L, 1887

1, 1904
Sept. 15, 1883

jN.Y., Cjompauy’s Office.
Q— M.

1, 1876

Nov. 1, 1906

Jan.

D.!

..........

N.Y.Am. Excli. Nat. Bk.

New York City".

Q.—F.

Aug. 1, 1936

A A.

It has absorbed

a

u »me June 11,
number of different companies and controls a

large share of the natural gas production about Pittsburg and vicinity,
owning or leasing ip Get., 1887, 66,318 acres of gas territory and 494
miles of pipes. The company began to pay dividends in Oct., 1*85, and
lias since then paid 1 per cent monthly.
In September. 18s7, the acock
was raised $1,t oo,000 to above amount.
G< o. vV7e>tinghouse, Jr., Presi¬
dent, Pittsburg. (V. 44, p. 744; V. 45, p. 292, 438.)
Postal Telegraph Ac Cable—Of the stock $7,000,000 is out
standing,
held in trust, and balance remains
$12,000,u00 is
In
The
treasury.
Mr. J. W. Mackay is the President.
name
of
the
Postal
Telegraph Co.
was
1883.
changed
November,
(See V. 37, p. 564).
The Postal Telegraph Company -sold all its
property aud franchises to the Postal Telegraph A Cable Co., which was
organized under the laws of this State expressly for this purpose.
In May, 1885, receivers were appointed, aud a scheme for reorganiaa(ion of the Postal Telegraph A Cable Co. was proposed, as stated 111 V.
to, p. 626, 645, by which the company will have no bonded debt and
stock for $5,000,000 only. The present bonds will take new stook for
35 per cent- of their face, and the old stock will receive 5 per cent of its
amount in new
Foreclosure suit begun by Farmers’ Lorn & Trust
Co* Nov., 18*5, and sale took place Jau. 15, 1886, for a nominal price of
$280,000. See Y. 42, p. 94. (V. 43, p. 125.)

Poughkeepsie Bridge Co.—Chartered in 1871 to build a railroad
bridge a loss tue Hud-on River at Poughkeepsie. Active operat ousto
complete the work were begun in 1886, and contract made with Union
Bri ige Co., the bridge to be ready for traffic by Jun. 1, 188s. Capital
stock $5,00 ,000.
(Abstract of mortgage in vol. 45, p. 2 7L.) N. Y.
office, 15 Broad Street. (V. 45, p. 401, 473.)
Pullman Palace Car.—The stock has been increased from time to
time to provide new capital, as wanted, since the price, ruling above
par. gave a bouus to stockholders when subscribing for new stock;
an increase of 25 per cent, was voted at the
meeting iu Oct., 1887, and
is included in the amount outstanding above.
Fiscal year ends July, 31; report for 1886-7 was In V. 45, p. 538.
Revenue—

1884-85.

1895-86.

1886-87.

$
Earnings (leased lines included)
4,946,151
Patent royalties, manuf. profits, &c..
667,477

$
5,075,383
548,129

$
5,621,018
819,914

5,613,628

5,623,512

6,440,932

1,949,655

2,057,627

2,224,807

708,005

892,176

969,896

162,5 29
171,453

66,000
168,0 0

66,000
159,150

1,273,962

1,274,0:8

1,274,176

.

Total revenue
Disbursements—

Operating

expenses,

including legal,

general t.ax-H and insurance (leased
lint-s included)
...

Pawl other sleepng-ear

controlled

anil

associations
operated...

Rentals of leased lines
Coupon Interest on bonds
Dividends on capital S'oek

509.)
Pacific Mall Steamship.—The Pacific Railroads gave to the steam¬
ship company a monthly subsidy of $85,000 per month—this agree¬
ment terminable on 30 days’ notice after Nov., 1885, and such notice
was given in Feb., 1»m6, and the agreement stopped.
In October, 1887,
Mr. Geo. J. Gould was e.e» ted President in place of Mr. Henry Hart.
Prices of sto- k ye ally since 1*80 have been: Iu L88t>, 27 V® 62; in

Repairs of cars iu excess of mile ige
Coniingeuey account

JLS81,39®62*4; iu l8->2. 3.%®48%; in 1*83, 28®44%; in 18-4, 31®
57V; In 1885, 46V®TO; inlotoO, 45%®67; in 1887 to Nov. 18, inclus¬
ive, 3214o>53%.
Fiscal year ends April 30; report for 1886-7 was in V. 45, p. 680.

per uuuum,

EARNINGS.

1884-85

1885-86.

1886-87

$1,0.6,172

$957,*10

$766,080

1,848,781

1.603,536
1,534,272
166,414
217,906

1,368.88 L
1.282,317

$4,826,193 $4,479,939

$3,633,371

1,547,225
159,066

254,949

216,092

EXPENSES.

18*4-35..

$579,028
1,100,506
737,392
194,718

1885-86.

1886-87.

$608,065

$090,166

1,080.241
714,100

1,357,949
682,*21

149.490

413,185
184,309

457,367

435,8 38

170,191

171,064

$3,209,138

$3,179,454
$l,3u0,485

$3,337,838
Net earnings
$1,617,055
$295,533
No balance sheet to April 30, ’87, was given in the annual report:
-(V. 43, p. 368; V. 44, p. 212, 680; Y. 45, p. 240, 272, 473.)




Jan. 1, 1886

INCOME ACCOUNT.

Northwestern Telegraph.—This company owns 8,000 miles of
wire and is leased to Western Union for 99 years, with guaranteed divi¬
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in
1897 and afterward. The bond interest is guaranteed.

Total

1**1900
May *1,* *1888

June

Q.- J. |N. Y., Company’s Office.

1
3
6

—(V. 44, p. 527.)

Miscellaneous expenses.

do
do
do

Company, and after various changes took the present

N. Y. Ac Perry Coal Ac Iron Co.—This company was organized
nnder the laws oi New York iu June, 1885, as a reorganization of the
N. Y. A Stiaitsville C al A Iron Co.-, which was foreel sed. Tue assets,
as per balance sheet on June 20, 1887, were $3,476,46', and stock was
increased to $3.oOo,oOO. A full exhibit was published in the chron¬
ic lib.
(V. s4, p. 741; V. 45, p. 55, 8 4. Oihce, 52 Broadway, N. Y. xdty;
C. R. Griegs, President.

Agencies

Broadway,

ouly 15,00 0 | Philadelphia Company.—The company was incorporated by
has been in i special act in Pennsylvania. March 20, 1871, as the Empire Contract

protit and loss Doc. 31,1886, of $252,684. (V. 44, p. 274.)
New York Mutual Telegraph.—The Mutual Union Telegraph
Co. was organized under New York State laws. Stock was $600,000 and
afterward increased to $10,000,000. In Feb., 1883, a lease to Western
Union for 99 years was agreed to at l1^ per cent yearly dividends on
the stock and interest on the bonds. The organization was changed to
the New York Mutual Telegraph Company and the stock was reduced to
$2, 500,000, carrying dividends of 6 per cent per annum.

Atlantic Line
Panama Line
Transpacific Line
Australian Line.

Stocks—Last

Jan.

F.

New Central Coal (Md.)—The annual report for 1886. in V. 44, p.
274, showed net prouts for year of $7,818; and balance to credit of

Total.

pal,When Due,

Dividend.

M A N.1 N. Y., 135 Broad way.

2^

7,500,000
7,000,000
3,000,000
5,000,000

N. Y., 160
do
do
do

M. & N.

7

IV

Tampico and Vera
laud Line, Vera Cruz to Mexico City, 267 miles.
Has exclusive light for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the United States
bolder 156 miles wide, between the Gulf and Pacific Ocean
Company
owns 1,662 shares of the ( entral A South American Telegraph Co. Rev¬
enues iu ’-6, $221.001;
expenses, $59,290; dividends, 8 p. c., $114,
*752; surplus, $16,959; total surplus Dec. 31, 18s6, $o8.715
Cn.nit.al
*toca is $1,500,000. Jas. A. Soiymser, Prest., N. Y.
(V. 41, p. 274.)

-

Whom.

Q.—M.

250.000

738 miles;

Atlantic Line
Panama Line
Trans-Pacific Line
Australian Lmo
Subsidies aud other sources

Payable, and by

1899

4,400,000

Maryland Coal Co.—No ate reports.
Mexican Telegraph.—Company organized in
New York Stnte. Has a cable from Galveston to

1,725,000
593,211
11,500,000

100

•

let mortgage

acres, which were
vertible av.ri 2d mort. bonds.

Where

Payable

5,000,000

Too

-.

Philadelphia Company—(Natural Gas) Stock
Postal Telegraph A Cable Co.—Stock ($21,000,000)

5,000,000

When

Rate pei
Cent.

1,000

”50

Northwestern Telegraph—Stock
Bonds, interest guaranteed

•Cruz,

Outstanding

100AC
100
100

held by Cent. N.J.

Mortgage bonds
Maryland Coal—Stock

Prefei red stock
1st M., gold. sink. fd.. $309,000
Pacific Mail Steamship—Stock
Pennsylvania Coal—Stock

Amount

1,000

1875

of this held by Cent, of N. J.).

Sundry mortgages

or

Par
Value.

$8,700,000

.,Lehigh A Wilkesbarre Coal— Stock
Sterling loan
Mortgage loan6* ($110,000 are 7s)
Consol, mort. ($6,116,000

INTEREST OR DIVIDENDS.

Size,

Total disbursements

Not result

210,018

100,000

100,000

4,365,604

4,167,881
1,155,631

1,248,024

4,904,047
1,536,885

Quicksilver Mlulng.—The preferred stock is entitled to 7 per ct.
not cumulative, and any surplus goes to the common and
preferred equally. 8ee annual report for 1886-87 in V. 45, p. 83, allow¬
ing net income for the year of $178,448; (V. 43, p. 72 ; V. a5, p. 83,
509, 538.)
St. Louis Bridge Ac Tunnel Railroad.—The railroad and tunnel
sold under the moitgageof 1873, July 1, 1878. Foreclosure under
the first and second mortgages on the bridge was made Dec. 20, 1878.
were

Ou

July 1, 1881, the bridge and Tunnel Railroad

Pacifio and Wabash St. Louis &

were

leased to the Mo.

Pacific for the term of their cor¬

porate charters, on the terms following, viz.: Of the stock $2,490,000
preferred, by the terms of the lease, is guaranteed 6 per cent;
$3,000,000 second preferred is guaranteed 3 per ceut per annum.
The railroad stook of $1,250,000 is guaiauteed 6 per oent a year.
lirst

The whole annual charge for rentals is $670,000, one-half payable by
Missouri Paoitie and one-half by Wabash. The common stock was held

by the Loudon Reorganization Committee, and under the lease was
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon. In the year ending Dec. 31,1885, gross earnings were $1,542,879; fixed charges and guar, divi’ds, $873,522; surplus balance, $2,042.
In :8so gross earnings, $1,5 *4,212: net, $836,799; charges, $859,027;
deficit $22,2-8—caused by Southwest strike.
Sterling Iron Ac Railway.—The property of this company, in
Orange County N. Y., (and a few acres in Rockland) consists of 25,000
acres of laud, with furnaces, Ac., having a capacity of 15,000 tons of
pig iron per year, and 7*2 miles of railroad, houses, Ac. The oompany
endorses the $471,674 bouds of the Sterling Mountain Railway. -A- "
Humphreys, President, 45 William Street, N. Y.

November,

Subscribers will confer a great lavor

by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.

explanation of column headings, A:c.
page of tables.

see notes on

j Date

first!

of
I Bonds

Pullman Palace Gar—Stock
Bonds, 4th series

Bonds, debenture
Quicksilver Mining—Common

1872
1878

.

1879

Par

1880
1876

c*
c*

1883 (
1832
1837
1887

1885
(for $3,600,000)
United States Express—Stock
Wells, Fargo <& Company Express—Stock
Western Union Telegraph—Stock
1872
Real estate bonds, gold, sinking fund
1875
Bonds, coup, or reg., sinking fund 1 per cent
Sterling bonds, coupon (sinking fund 1 p. ct. per annum) 1875
2d mortgage

1,000

Cent.
2

Q.-M.

8

A. & O.

1%

”3*

l62ifi

418,000

7*

495,575

6

10

20,000,000
997,863
10,000,000

300,000;

3,460,000
1,400,000 ;
3,000,000 i
1,200,000 i
(?)
10,000,000
6,250,000 !
86,200,000 I
1,336,000 !
4,920,000'

1,000

100
100
100

1,000
1,000

£100Ao

Tunnel.—Tunnel on Comstock Lode for facilitating mining
operations. Receipts in 1885-6 $204,8: 9 ; expenses, $33,418 ; interest
vest$121,534.
paid, $13,964.
Receipts
1886-7
foreclosure
$266,553;
is pen-.iiug
in¬
Said,
Suitin for
expenses,the$76,715;
total claim
with inter, st, being over $2,000,000.—(V. 43, p. 191; V. 44, p. 91; V.

45, p. 84, 509.)

Co.—This company, organized iD 1881,

Stocks—Last

Payable and by
Whom.

N. Y., Farm
do
do

Dividend.

L. A T. Co.

Nov.

do
do

Aug. 15, 1887

Q.-F.
J.
J.

&
A
A. A
J. &
A. A

15, 1887
Aug. 15, 1892
Oct. 15, 1888
May, 1882

*J.

N. Y., Drexel, M. A Co.
J.
do
do
O. New York and London.
J. N. Y., Drexel. M. A Co.
O. N.Y., West. Union Tel.

July, 1887
July, 1887
April 1, 1928
July 1, 1887
Oct., 1887

New York.

Feb.

April 1, 1894
Oct. 1,1896
Jan. 1, 1891

London.
1
7
7
6 g.
6 g.

715.000

1,000
1,000

pal, When Due,

’

1,000

1,000

Where

When

! Payable

7
40o.

5,708,700
4,291.300
2,500,000
2,490,000
3,000,000
5,000,000
1,250,000
948,875
2,300,000

1188655--64732907..,

50
500 Ac.

Sntro

Tenn. Coal Iron & RR.
has acquired the properties of
States Coal Iron A Land Co., in

Rate per)

$100 ;$19,909.0003
820,000
1,000 I
1,000
955,000

1877

Birmingham, Ala., Div., consol, mort., gold
Tennessee Div. bonds, gold
United Lines Telegraph—Stock.
1st mortgage (subject to old lien of $300,000)

Outstanding

Value.

”25

(guar. 5 per cent.)..

Sutro Tunnel—Stock..............
Mortgage (no bonds)
Tennessee Coal Iron <£ RR. Go.— Stock...
Pratt Coal A Iron Co., 1st mortgage, Ala
Alice Furnace Co., 1st bonds

Amount

100
100
100
100

fund

Tunnel HR. of St. Louis, stock, guar
Southern <£ Atlantic Telegraph—Stock
Sterling Iron <t Railway— Stock
Mortgage bonds, income, series “B”
Plain income bonds

Bonds- Princi¬

INTEREST OR DIVIDENDS.

Size, or

100

stock
Preferred 7 per cent stock, not cumulative
St. Louis Bridge dt Tunnel EE.—Bridge stock, common
1st preferred stock, guar
2d preferred stock, guar
lsr mortgage, new, sinking

123

MISCELLANEOUS STOCKS AND BONDS

1887.]

N. Y. Fourth Nat. Bank
N. Y., Central Tr. Co.
M. AN.
A. & O.i N.Y., Nat. Park Bauk.
J. & J.iN.Y., Fourth Nat. Bank
A. & OJ
do
do

May 14,
Nov. 1,
April 1,
Jan. 1,
Jan. 1,

1887
1903
1902
1917
1917

”6*

3, 4,5
•

891,324

1
4
l

z*
6 g.

Q.-F.
J.

A J.

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

1915
1st coup, due July 1, ’87
Nov. 15, 1887
New York, Office.
New York, Office.
July 15,1887
Oct. 15, 1887
New Yorir, Office.
N. Y., Union Trust Co.
May 1, 1902
N. Y., Treasurer’s Office
May 1, 1900
London, Morton, R.ACo Maroh 1, 1900

Quarter ending Sept. 30

,

Actual, 1886.

Net revenue
Deduct—
Interest ou bonds

$1,157,898

:

$122,500

$123,470

20,000

Sinking fund

Estimated, 1887.
$1,400,000

143,470

20,000

142,500

the Sewanee Mining Co., the Southern Net income
,014,428
$1,257,500
Tenn., the Pratt Coal A Iron Co. in Ala¬ Less dividend
812,000
bama, and other valuable properties consisting of blast furnaces, coal
mines, iron mines, foundries, Ac., and large tracts of coal and iron lands Surplus for quarter
$1,014,428
$445,500
in Tenn. and Alabama.
See a full statement of the property in V. 44, p. Add surplus for June 30
4,309,833
7,002,185
245. Of the Birmingham Division bonds $1,000,000 are reserved to
retire priur issues at maturity. In December, le.86, stockholders of Surplus for Sept. 30
$5,324,261
$7,447,685
record on the 22d had the privilege oi subscribing for $1,000,000 Bir¬
Fscal year ends June 30; report for 1886-87 was m V. 45, p. 508.
mingham Division bouds at par, ex the July, 1887, coupon, and with
18 86-87.
1885-86.
1884-85.
a bonus of $3,000,000 in new stock, or 100 per cent on prior holdings.
The prior bonds on the Tenn. portion of the property are about all
Revenues for the year
$17,706,834 $16,298,639 $17,191,910

refun led into the above new issue of Tenn. Div. bonds,
From Jan. 1 to June 30, 1887 (6 months), net earnings were
-(V. 43, p. 431, 459. 548 ; V. 44, p. 91, 245, 204, 235, 245,

due 1917.
$322/ 00.

401, 499,

809; V. 45, p. 105, 273, 643.)
United States Express.—In Sept.,

1837, the stock was increased
$3,0u0,0un, rait-iug it to $lo,i 00,000, and the B. A O. Express was pur¬
chased. (See V. 45, p. 305, 341, 438 )
United
Lines
Telegraph.—This company was formed in
August, 1885. as successor to the Bankers’ A Merchants’ Tel., sold In
foreclosure July 31, 1885, subject to prior mort. of about $300,000. See
account of sale and list of property sold In Ciikonicle, V. 41, p. 122. In
Nov., 1886, C. P. Farrtll of N. Y. was appointed receiver of the B. A M.
property in Penn., and afterward appointed for N. J. and Conn.

The Bankers’ A Merchants’ was sold in foreclosure July 31, 1885
(see V. 41, p. 122), and the plan of reorganization embraced the
following points: The lormation of a successor company with a capi¬
tal stock of not more than $3,000,000. First mortgage by the new
company on all of the property under which not more than $1,200,000 of bonds are to he issued, with interest thereon at 6 per cent.
Second mortgage by the new company on all of the property under
whioh not mure than $3,600,000 of bonds are to be issued; the interest
on these second mortgage bonds, however, is not to begiu to run until
tile 1st of January, 1887, and then for the first two years only at 3 per
cent, for the next two years at 4 per cent, and thereafter at 5 per eeut.
The general mortgage bonds outstanding were to receive a new $500
bond for each $1,000 bond, being scaled one-half. The stock to receive
one new share in exchange for four old shares.
(See Investors’ Sup¬
plement of

Dec., 1886, anti prior issues, for further

information.)

operated under contract by* the Postal Telegr’h Co.
66, 164, 264, 387, 488, 546, 608, 693.)

The lines have been

-(V. 4J, p.
Western Union

Telegraph.—On the practical consolidation with

114,000,0U0.

In March, 1886, the company decided to pay the April dividend of l1^
percent in scrip, as per statement in V. 42, p. 339, and in March, 1887,
voted to issue $1,200,000 stock to take up this scrip, and new bouds
to retire tile slocks of several of the leased lines having guar, rentals.
In October, 1887, the Baltimore A Ohio Telegraph Co. was purchased
by the W. U. ($3,875,000 of its stock) for 50,000 shares of W. U. stock
and $60,000 per annum as rental for 50 years. The mileage of wire




for same quar. in 1886:

$4,999,325
495,072
39,992

$3,399,573

Total disbursements.

$5,534,389

$3,934,025

Balance of

$166,536 def. $14,169
$4,324,004
$4,157,469
def. 14,169
166,535

$1,344,929
$2,6 92,353
$4,309,835
2,692,353

$4,309,835

$7,002,188

profits
Surplus July 1 (begin’g of yr.)..
Balance of profits for year
Total nominal surplus June
30 (eud of year)

$4,324,004

39,991

$811,864
493,074
39,991

Sinking funds June 30, 1887, contained $364,693.
prices of stocks for a series of years has been: In 1881,
77@94; in 1882. 76i8 @93^s; in 1883, 71^
; in 1884, 49@78i«;
in 1885, 53^38138; in 1^86, eo^SSO^; in 1887, to Nov. 18, inch, 67**
3 8l7e.
The following statement shows the mileage of lines and wires, number
of offices, and traffic of the company, for each year from June 30, 1866,,
30, 1887:

37,380
46,270
50,183
52,099
54,109
56,032

Messages.

75,686 2,250
85,291 2,565
5,879,282
97,594 3,219
6,404,595
104,584 3,607
7,934,933
112,191 3,972
9,157,646
121,151 4,606 10,646,077
137,190 5,237 12,444,499

154,472

72,833

175,735
179,496

73,532
76,955
81,002

183,832
194,323
206,202

82.987
85 645

211,566
233,534

5,740 14,456,832
6,188 16,329,256
6,565 17,153,710
7,072 18,729.567
7,500 21,158,941
8,014 23,918,894

8,534 25.070,106
9,077 29.215,509

Receipts.
$
6,568,925
7,004,560
7,316,918

7,138,737
7,637,448

8,457,095
9,333,018
9,262,653
9,564,574
10,034,983
9,812,352
9,861,355
10,960,640

12,782,894
14.393,543

Profits.
$

2.624.919
2,641,710
2,748,801
2,227,965
2,532,661
2,790,233
2,757,963
2.506.920
3,229,157
3,399,509
3,140,127
3,551,543
4,800,440
5,833.937
5,908,279
7,118,070

327,171 10,737 32,500.000
374,368 12,068 38,8*2,-V7 17,114,165
432,726 12,917 41,181,177 19,40*.,J.>2 7,660,350
145,037 450.571 13.7(51 42,076,226 19,632,939 6,610,435
1 *84-85
147,500 462,283 14,184 42,096,583 17,706,833 5,700,924
.151,832 4*9,607 15,142 43,289,807 16 298.638 3,919,855
524,641 15,658 47,394,530 17,191,910 4,037.281
-(V. 43, p. 309, 458, 719; V. 44, p. 344, 495, 553, 752; V. 45, p. 369,
473, 508, 509, 643.)
-.

I

494,461

The range in

1S79-SC..

transferred by B. A O. to W. U. Tel. Co. was as follows: Ovvrnd, 52,603
nfiles; ie«.sed 1,504, controlled, 4,480. Number of offices taken over
about 1,0 o, 250 of which are not duplicated by the W. U.

30,18w7 (partly estimated),

Disbursements—
For dividends
For interest on bonds
For sinking fimds

62,033
65,757
71,585

The Mutual Uuion Telegraph made an opposition line, but in February,
1883, alease was agreed upou. The Western Union also leases the Amer
lean Cable, with a guarantee of 5 per ceiit per annum on its stock of

The statement for the
quarter ending Sept.
waa as follows, compared with the actual figures

Profits

.

dated the grand consolidation, in which the Western Union
raised its stock to $80,000,000, giving par. or $15,000,000. for the stock
and bonds of the American Union; 60 per cent for old Atlantic A Pacific
stock was given in new Western Union; and a stock distribution of 38
per cent to Western Union shareholders. An injunction was obtained
against the stock distribution and litigation ensued, and the stock div’d
was finally held to be legal by the N. Y. Court of Appeals in Oct., 1883.
was

1,273,125
499,592
203,061

$9,077,445
1,899,954
1,673,670
278,594
224,965

$12,005,910 $12,378,783 $13,154,628
$3,919,856
$4,037,282
$5,700,925

Total expenses

Miles of Miles of No. of
Year. Poles AC’bl’s. Wire. Offices.

was started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend
0fl7nercent to stockholders of record June 20, 1879. On Jan. 19,

opposition line

$8,510,658
1,892,347

$8,544,554
1,822,543
1,146,871
301,732
190,210
Equipment of offices and wires.

gen. expenses ..
Rentals of leased lines
Maintenance A reconstruction.
Taxes

to June

the Atlantic A Pacific in 18/8 the Western Unioii had a monopoly of tele¬
graphing business in the United States. In 1879 the American Union

1881,

Expenses—

Operating and

BANK, GAS, INSURANCE AND CITY RAILROAD STOCKS.

124

STOCK

BANK
Capital.
Companies.

Am. Exch.

Bk.ofDep’sit
Bowery....

Broadway..
Butch’s’ADr
Central
Chase
Chatham....
Chemical...

Citizens’....

City

Dividends.

Surplus

100
100
100
100
25
25
100
100
25
100
25
100

& J.
M. A N.

10
7

8
7

J. A
J. A
J. &
J. &
J. A

10
20
8

10
20
8
7
6
14
100
7
15

J.

3,000,000
5,000,000
300,000
250,000
1,000,000
300,000
2,000,000
500,000
450,000
300,000
600,000
1,000,000

J.
J.
J.
J.
J.

6

6
10
Q.-J.
Bi-m’ly. 100
J. A J.
7
M. & N. 15

Columbia*..
200,000
Commerce.. 100 5,000,000
J.‘*A*J.
Commercial.
300,000
Continental. ioo 1,000,000
300.100 J. & J.
GornExch.1'. 100 1,000,000 1,038,100 F. & A.
East River
11th Ward

.

Fifth
Fifth Ave*
First
Fourth
Fulton
Gallatin
Garfield
Germ’nAm.*
Germ’n Ex.*
Germania*..
Greenwich*.
Hanover....
....

....

Home*

Imp.& Trad.
Irving
Leather Mfr.
Lenox Hill’.
Lincoln
Madis’n 8q."
....

Manhattan *
Market
Mechanics'
Mech. A Tr*
.

Mercantile..

45,600
100,000
1,500,000 3,380,200 j.
232.900 J.
500,000
100! 600,000 500.900 J.
700
100,000
ioo 300,000 123.500
11.500 /.
100
200,000
50 2,050,000 1,051,100 F.
100
500,000 451.200 J.
25 2.000,000 1.446,300 J.
25
121.200 J.
200,000
00 1,000,000
540,200 J.
50 2,000,000
718,800 J.
100
50

10o,000
N. America*! 70
700,000
North Riv’r* 30
240,000
Oriental*.... 25
300,000
Pacific*.... 50
422,700
100 2,000,000
Park

People’s*...

25

J.
A.
J.
J.
J.
J.
J.
J.
J.
J.

100,000
500,000

100
100
500,000
100
300,000
100
300,000
100
500,000
Sixth
100
200,000
State of N.Y* 100 1,200,000
Third
100 1,000,000
Tradesmen’s 40 1,000,000
Twelf.Ward*
100,000
Union*
250,000
U. States
100
500,00(
Western
!
3,500,000
West Side*.. 100
200,000

Bt. Nicholas*
Seaboard..
Seventh W’d
Second
Shoe A L’thr
.

...

10
8
8
6

Aug.,’87.
July, ’o7.
July,’87.
July,’87.

40
8
7
10

Oct., ’87.10

5
4
4
3

A
'J. A
J. &
A. A
J. A

8
10
8
6
7

Aug.,’87

3

9
6
'7

Nov.,’87. 4
Nov.,’87. 3

14
8
10

July,’87. 7
July, ’©7. 4
July,’87. 5

July,’87. 312

8
6
r*

4

J.
J
J
O.
J.

127,200
86,600

3

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

165,000
241.300
71,800

409,800
21,100

6

6
8
10
9
8
10
6
3
6

Jail., 87.
Aug.,’87.
July,’87.
July,’87.
July,'87.
July,’87.
July,’87.
July, '87.
July, ’«7.
July, ’S7.

3
3»2
4
4
4
3
3*2
3
4
3

Oct.,’87. 4

luiy, ’87. 5
July,’87. 4
Aug.,’87. 3
July,’87. 3V

July, ’87. 4
5
2
4
5
3
Oct.,’87. 3

July,’87.
Nov.,’87.
July,’87.
July,’87.
July,’87.

8

8
10
6
7
6

July,’87. 3*2

6
5
6

July,'87. 3
July. ’87. 212
July,’87. 3

July,’87. 5
July,’87. 4

8
8
8
6
6

8
8

3*2
6

Jan., ’87. 4
Nov.,’87. 4

July,’87. 3
July,’87. 3

......

2,000,

493,400!

51,400!

Q.-i.
J.

A J.

8

Oct., ’87. 2

io

July,’87. 5

•

10

1887, for National

LOCAL GAS COMPANIES’ STOCKS AND

BONDS

The following is a List of the stocks aud bonds of gas companies in
York and Brooklyn, with details of interest, dividends, &c.
Quotations for these will be found in the Commercial and Financial
Chronicle each week.

New

Dividends and interest.

(Brooklyn)

Jersey City A Hoboken
Metropolitan Bonds
Mutual (N. Yd
Bonds
Nassau

(Brooklyn)

Scrip
People’s (Brooklyn)
Bonds, 7 per eeut
Bonds, 6 per cent
Williaiusburgh
Bonds

Metropolitan (Brooktyn)
Municipal Bonds
Fulton Municipal
Bonds

Equitable
Bonds




Amount.

25 2.000,0001
20 1,200,000

1,000

■§ !
!« 1
|

Period.

Various!

Various'

250,000 A. A 0.!

100 35430000-J. A

D.l

756,000 Qiuir. !
700.000 F. A A.i
100 3,500,000 J. A J.
1,000 1,509,000 M. A N.j
25 1,000,000 Various
Var’s.
700,000 51. A N.
10 1.000,000 Guar.
1.000
400,000 M. & N.
Var’s.!
100,000 A. A O'
50 1,000,000 Quar. \
1,000 1,000,000 A. A O.
100 1,000,OOC.J. A J.
1.0C0
750,000 M. A N.1
100 3,000,000
!
I 300,000 J. & J.
20

1,000

100

1.000

..

Nov. ’87. 4

1

2,000,000!

1>00.000!

F. A A.

Date.

July, 1887
1

iJ’e 15, ’87
2*2 Oct. 1.’87
3
1902
2
July, 1887
3
1

:

1902

*2 Oct. 1,’87

2L> Nov.

1, ’87

1*2 S’pt.15,’87
o

'

Last Paid.

[1886.

701,272 10

10
10
12
13
15
6*50
9

10

July,'87. 5
8
Jan., ’87. 4
12
July,’87. 6
12
Aug. ’87. 6
15
July,’87. TU
6*50 July, '87. 3
8
Aug.,’87. 4
10
10
July,’87. 5
21,219
Jan., ’87. 2
1,374,856 15*40 15*40 15*40 July, ’87.7*70
15
15
660,579 15
Oct.,’87. 71*
6
6
87,200 6
July,’87. 3i«
7
7
113,9 <54 7
Aug.,’87. 3i«
10
116,338 10
10
July,’87. 5
25.736 10
278,683 12
340,583 14
256,686 15
329,190 10
174,118 10
50,281 10

200,000
153,000
300,000
210,000
250,000
500,000

•

.....

1,000,000
300,000
200,000

200,010
200,000

•

•

.

_

•

_

29,632
65,736
2,344,273
638,083
122,073
465,811
25,716
119,483
540,903
1,413,795
81,393
277,382
184,0t5
94,004
64,755
47,402
187,338

200,000
204,000

1,000,000
1,000,000
200,000
200,000
200,000
150,000
1,000,000
3,000,000
400,000
200,010

8
14
10
10
30
3
10
10
10

none. none.

10
20
6
10
10
6
24.794TO
21,307 3
78,376 5
38,403 10
180,326 10
66,263 9
327,913 12
90,677 8
489,340 10
78,846 8

150,000
210,000

150,000
300,000
200,000
250,000
200,000
200,000
200,000
200,000

200,000
210,000

200,000
500,000
350,000
200,000
200,000
200,000
150,000
1,000,000
200,000
200,000

362,920 14

41,150! 10
62,617 10

214,760; 12
iio
167,242 11
145,257 7
10,5171 4
107,671 10
260,293 10
310,510 10
563.246 20

350,000
200,000
250,000
300,000
250,000

.

7
14
10
10
10
6
10
10
10
10
20
6

8
10
6
5
6
9

-

io
10
8
12
10
6
12
10
10
12
10
10
7
none.

9
10
10
20

8
15
10
10
10
6
10
10
10
3
10
20
6
8
7
8

July,’87. 3
July, ’87.10
July.’87. 5
July,’87. 5
July,’87. 5
Jan., ’87. 3
Jnlv,’87. 5
July,’87. 5
July,’87. 5

Jari., ’87. '3

Sept.,’87. 5
July, ’87.10
July,’87. 3

July,’87. 4

July,’87. 4
Oct.,’87. 2ij
Jan., ’85. 5
6
Jan., ’87.. 3
7
July, ’87. 3
10
July,’87. 5
10
July,’87. 5
8
July,’87. 4
12
July,’87. 5
8
Aug.,’87. 4
10
July,’87. 5
8
Oct., ’87. 4
12
July,’87. 6
10
July,’87. 31*
10
July,’87. 5
12
July,’87. 6
10
July, '87. 5
10
July,’87. 5
7
July,’87
2*50 Aug.,’86. 2ifl
10
July,’57. 3
10
July,’87. 5
10
Aug.,’87. 5
20
July,’87.10

Over all liabilities, including re-insurance, capital and scrip.
Surplus includes scrip.
(*) Brooklyn.

CITY HORSE

RAILROAD

STOCKS AND BONDS.
Dividends and interest.

Railroads.

Par.

Atlantic Avenue (Brooklyn)..
Bonds
Bleecker St. A Fult. F.—Stock.
1st mortgage

Amount.

$700,000 Q’rt’rly.

50

500.000

1,000
100

100 2,100.000 'Q.-J.
1,000' 1,500,000 J. A D.
1,000 500,000 J. A J.
100
525,000
250,000 Q.-J.
1,000

1st mortgage
2d mortgage

Broadway (Brooklyn)
1st mortgage

2d mortgage
Brooklyn City—Stock
1st mortgage
Brooklyn City A Newtown
1 st mortgage
Brooklyn Crosstown—Stock...
1st mortgage bonds

1,000

100.000

10 3,200,000

1,000

Q.-F.

800,000 J.

A J.

100 1.000.000

...

400,000
200,000 A. A

1,000
100

6.

400,000 J. A J.
500,000 Q.-F.

1,000
100

1 1,000
Central Crosstown—Stock.

Rate.

400,000 J. A J.
600,000 Q.-J.

100

#

2
Jan., 1887
5-7 1885 A ’94

1,000
.

July, 1887
July, 1900
Jan., 1886
June, 1904

3
5

5
1914
3
Oct., 1887
7
j'
1889
6
1889
2
Nov., 1887
5
Jan., 1902
1 Jfl
7
1890
4
Oct., 1887
7
1888
2
Nov., 1887
1902
6

13i
250,000 M. A N. 6
100 1,800.000 Q.-J.
1*2
1,000 1,200.000 J. A D. 7
1
100
Christopher A 10th St.—Stock.
650,000 Q.-F. 13,
Bonds
100,000 A. A 0. 7
1,000
3
500,000
Coney Island & Brooklyn
i
100
1,000
75,000 J. A T. 7
Consolidated
r 1,000 125,000 J. A J. 5
D. D. E. B. A Battery—Stock.. i
100 1,200,000 Q.-F. 2
1st mortgage, consol
'500 Ac
900,000 J. A D. 7
!

Cent. Park N. A E. Riv.—Stock
Consol, mortgage bonds
!

Date.

900,000 J. & J.
700.000 J. A J. 7

1,000

Broadway & 7th Ave.—Stock.

Period.

Oct., 1887
Nov., 1922
Apr., 1887
Dec. 1902
Nov., 1887
1898
Aug., 1884
1887
1903

Nov., 1887
June, 1893
100 1,200,000 P. A A. 6
Feb., 1914
100! i,ooo.O'n Q.-J. 1*2 Oct., 1887
1914
100! 1,000.000 F. A A. 6
100
748,000 Q. -F. 2*2 Nov., 1887
Apr., 1893
236.000 A. A 0. 7
1,000
100
170,000
2*2 Jan., 1886
1896
1,000
175,000 F. A A. 7
100
Feb., 1886
250,000 Q.-F. 2
500
500,000 J. A J. 7
July. 1894
2
Nov., 1887
100
800,000
100 1,862,000 1. A J. 5
Jan., 1887
1.000
Nov., 1909
400,000 M. A N. 5
May, 1888
1,000 1,050,000 M. A N. 7
2
100 1,500,000! O—F.
Nov., 1887
500.000 J. A J. 7
1,000
Juiy, 1890
100 2,000.000 Q.-F.
3
Nov., 1887
Jan., 1890
1,000 2,000.000 J. A J. 7
100
600,000 F. A A 2*2 Nov., 1887
May, 1893
1,000
250,000 [M. A N. 7
'

3*2 Nov. 1, ’87
3
5
2

\

.

1884. 1885.

$

$
400,000
200,000
300,000

..

July,’87. 3

b
10

8

*
These are not National banks,
t October 5,
banks and September 17, 1887, for 8tate banks.

Citizens’ Gas-Light
Bonds
Consolidated Gas

....

Nov,’87. 312
Oct., ’87. 5

7
8
8
8
6
7
6
7L,
6
16
8
Id

6
16

8

Brooklyn Gas-Light

.

July,’87. 4

Aug.,’87. 3

8
8
7
6
7
3
7

2,200
217.300 J.

Par.

..

Dividends.

1887.*

Amount.

...

.

7*2

Q.-F

J.

Gas Companies.

American!... 50
Amer. Exch. 100
25
Bowery
Broadway... 25
Brooklyn (J). 17
Citizens’
t 20
70
City
100
Clinton
Comm’nw’th 100
Continental t 100
40
Eagle
Empire City. 100
Exchange... 30
Farragut.... 50
Fire Ass’n... 100
17
Firemen’s...
German Am. 100
Germania... 50
Globe
50
25
Greenwich
Guardian.... 100
15
Hamilton..
Hanover
50
Home
100
Howard
40
Jefferson. .t 30
20
Kings Co.(t)
Kuick’bock’r 30
50
Lafayette (f)
Long Isl.(f) .t 50
Man. A Build. 100
Mech’nics’ (\) 50
Mercantile
50
Merchants’.. 50
Montauk(l).. 50
Nassau(t).... 50
National....
37*2
N.Y. Eq’table 35
N.Y. Fire.... LOO
50
Niagara
North River. 25
Pacific
25
Park
100
.-.
50
People’s
Peter Cooper 20
PhenixC).... 50
25
Rutgers’
50
Standard
too
Sterling
Stuyvesant.. 25
Unit’d States 25
Westchester.
10
W’msbg C.(f) 50
*

283,600

Republic.... TOO 1.500,000
River Side

Nov.,’87.15

6

319.400 J. A J.
92,700 J. A J
319.100 J. A J.

200,000

4

July,'87 31a
Nov.,’87. 5

2,300
7.800

20 1,000,000
Phenix
Prod. Exch.* 100 1,000,000

3*2
4

3
Oct.,’87. 3

6

14
9
10

109.900 F. & A.
262.700 J. & J.

....

6

July,’87.
Nov.,’87.
July,’87.
July,’87.
July,’87.

6>2 July,’87. 3

8
10
8
8
6

Merchants’.
Merch. Ex..
50 i 600,000
Metropolis *. 100 300,000
Mt. Morris*. 100
100,000
Murr’y Hill* 50 100,000 232.400 Q.-J.
147.400 M. & N.
Nassau*..... 100
500,000
New York ..100:2,000,000 1,496,500 J. & J.
N. Y. County 100
43,100 J. A J.
200,000

300,000
750,000
100,000

July.’87. 4
Nov., 87. 3*2

8*‘ July,*’877 4”

8~

& j.
A J.
& J.

&
A
&
&
&
&
A
130.300 J. &
388.100 J. &
143.700 J. &

Par.

”

139.300 J. A J.
25
250,000
25
120.100 J. & J.
100,000
100
150,000 211,100 J. A J.
604.500
100
100,000
40
100
500,000 5,430,700 Q.-J.
100 3,200,000 1,162,800 J. A J. 10*49
240.100 M. A N.
7
30
300,000
10
50 1,000,000 1,202,200 A. & O.
50
180.400 J. A J.
200,000
189.200 F. A A.
6
75
750,000
100
323.100
200,000
8
100
200,000 322.500 M. & N.
75.500 M. & N.
6
25
200,000
880,000 J. & J.
100 1,000,000
7

N. Y.N. Ex. 1001
Ninth
100
Ninth Ave *.1
Nme’thW’d*

Latest.

Period. 1885. 1886.

LIST.

Surplus,
Jan. 1,

Companies.

dates.t

STOCK

Net

Capital.

at latest

Par Amount.

America*..

INSURANCE

LIST.

[Vol. xly,

Scrip
Eighth Avenue—Stock
Scrip
42d A Grand St. Ferry—Stock.
1st mortgage
Grand St. A Newtown (Bk’lyn)
1st mortgage
Houst. W. St. A Pav. F’y—Stk.
1st mortgage
Ninth Avenue
Second Avenue—Stock

1908

3

Apr. 1, ’87

2

3

Oct. 24,’87
1899

3

iJ’ly 18,’87

1899
3*2
3 ~ Oct. 15, '87
6
1899
0
:Nov. 1. ’87
6
!
1900

Third Avenue—Stock
Bonds

Twenty-Third Street—Stock...
1st mortgage

*
This column shows last dividend
of bonds.

on

stocks, and date of

maturity

647654358888111186.

345673888 111
67

353645888 111

November,

RAILROAD

1887. j
MONTHLY
Jan.
$

Alabama Great Sonthcrn.883
(296 m.).
1884
(290 m.).

84,595
88,313
104.791
94,152
127.791

(296m.).
(296 m.).
(296 m.).
Atchison Topeka & Santa Fe—
(2,219 m.).
(2,259 to 2,340 m ).
r.
(2,875 to 2,396 m.).
(2,404 to 2,437 m.).
(2,445 to 2,874 m.).
Burlington Cedar Rap. Sc No.—
(690 to 713 m.).
1883.
(713 to 889 m.).
(938 to 990 m.).
1886
(990 to 1,006 m.).
(1,039 m.).
Central lowa(276 to 401 m.).
(401 to 490 ni.).

356447888111

86 104.

1,065,794
1,172,348
1,115,098
802,203
1,312,592
197,402

Chesapeake Sc Ohio-

Elizabeth. Lex. Sc Biff Sandy(139 m.)..
(139 m.)..
(139 m.)..

(139 m.;..
(139 m.)

1S86
1887

Chicago & Alton-

(849 m.)..
(849 m.)..
(849 m.;..
(849 m.)..
(849 m.).,

1385

Chicago Burlington Sc
(3,229
(3,322
1885
(3,467

(240 to 251 m.)
(251 m.)..
(251 m.)..
(247m.)..
(247 m.)..
.

Chicago Milwaukee Sc St. Paul.—
(4,520 to 4,700 m.)..
(4,760 to 4,804 m.)..
(4,804 to 4,932 m.).
1880
(4,932 to 5,131 m.)..
1887*
(5,201 to 5,400 m.).
Chicago & Northwestern—
1883
(3,580 to 3,761 m.).,
1884
(3,701 to 3.843 m.)..
(3,843 ra.)..
1880
(3.891 to 4,037 m.).,
1887
(4,037 to 4,194 m.).,
Chic. St. Paul Minn. Sc Omaha(1,150 to 1,280 m.).
(1,307 to 1,318 m.)..
(1,318 to 1,325 m.)..
1880
(1,339 m.)..
1887
(1,305 to 1,393 m.).
Cin. Ind. St. Louis Sc Chicago(342 m.)..

1837

.

(342
(342
(342 to 297
(297

m.)..

m.)..
m.)..
m.)..

Cincinnati N. O. Sc Texas Pac.—
(336 m.)..
(330 m.)..
(330 m.)
1880
(330 m.)..
(330 m.).
Clev. Col. Cin. Sc Ind.—
(391 m ).
.

(391m.)

.

(391 m.)..
(391 ra.)
(391 m.)..
.

Denver Sc Rio Grande1883
(1,315 to 1,679 m.).

1884(7
1885g
1880(7

(1,317 m.)..
0,317 m.)..

(1,317 m.)..

(1,317 m.).
East Tenn. Va. Sc Ga.—
(902 to 1,098 m.)..
1884
(1,098 m.)..
1887

(1,098 m.)
(1,093 m.)..
(1,098 m.;..
Flint Sc Pere Marquette1883
(347 to 301 m.)..
1884
(301 m.)..
1885
(301 m.)..
1880
(301 m.)..
1887*
(301 m.)..
Gulf Colorado & Santa Fe—
(482 to 534 m )..
.(530 m.)..
(530to 590 m.)..
1880
(025 to 729m.)..
1887*
(835 to 973 m.)..
Ill. Cent.—III. Line Sc So. Div.—
(1.498 to 1,520 m.)..
.(1,526 to 1,000 m.)..
(1,006 m.)..
1880
(1,606 to 1,953 m.)..
1887
(1,953 m.)..
Leased Lines in Iowa1883
(402 m.)..
1S84
(402 m.).
18S5
(402 m.)..
(402 m.)..
(402 m.)..
Indiana Bloom. Sc Western1883*
(084 m.)..
.

1880
1887

1884*/...
1885*/
1880*/

(532 m.)..
(532 m.).,
(532 m.)..
(532 m,)..

73,414
85,300
82,831

98,839
119,213

88,872
110,954

218,252
217,570

220,208

241,943!

82,593

80,387

113,702
86,247
82,9 >7

99,154
85.99
102,357

115,615
114,726
127,397:

110,014

98,419

130,288j
337,795!

195.989

232.522

195,970!

216,590
225,824

331,173
287,497

323,845
257,202
249,522

335,208
320,938

307,<93
361,925

322.799

385,832,

405,50m
3r>9,081

381,746
348.187
299,198
410,960
415,35M

47,540
50,403
55,*>88
65,743
78,581

56,629
57,040
49,929
03,128
84,704

50,022
53.050
52,761

63,435
74,850
58,050

75,831

07,411

95.840
98,930

91.028
10 *,050

000.878
007,281
591,617

731.503
730,944
608,393
715,100
817,041

880.550
8oM.9i>4

934,945 !
916,904 !

726,005

570.034
054,04w

046,730
652,001
591,091
595,585
021,01!)

755,825 '
777,414

1,011,021 2,396,58411,824,130
1,971,013 2,100,028 1,832,451
1,001,915 2,039,110 2,065,070
1,830,275 2.229,172 1.952 740
1,847,235 2,052,032 2,197,900

2,009,872
1,981,127
2,081,904
1.981,077
2,152,072

53,045

48,682
63.031
08,420

53,307
74,284
81,638

557,384
573,284
537,322
542,137
534,409

680,851 j

57.519

680,094
097.919

612.047

715,755!

j

138.80l1

112.209

139.583

125,425
127,034
135,883
155,900!

107,46
109,252

111,048
140,720
143,023
108,074

129.142

141,108

I

123,709;

108,547'
110.000;
135,557
151,034

247,112

93,7*4
007,508

008,070'
591,200
037,484
717,190

224,381;
209,735

280,214

144,143
123,577

128,379
112,309
120,510
115,133
155,416

110.812

134,285

107,508

120,093
128,392
114,05.',
141,250
107,209

1.972,271 2,033,514 2,023.181 1,829.285
1,467,097 1,317,004 1,788,720 1,948,030 1,985,768 1,919,902 1,949,545
1,517,397 1,345,490 2,081,071 1,927,204 1,875,231 1,805,4*9 1,893,1*70
1,445,174 1,503,901 2,033,014 1,703,890 1,707,009 2,004,222; 2.030,727
1,490,234; 1,521.972 2,212,087 1,979,001 1,800,00m 2,12'>,00U 1,810,485

1,357,622'1,311,395 2.095,292

1,754,379
1,822,105
1,770,829
1,720,017
1,839,334

1,502,418 1,504.100 1,700,940
1,512,080 1,479,803 1,986,542
1,328,107! 1,078,5u0 1.980,025
1,723,173 1,634,100 2,334,783
283,001
331,453
307,043
395,000
309,208

429,339
507.998
404.892
479,187
510,000

438,521
403,952
458,824
520,053
580,151

2.157,200 2,213,021
2,076 82911 99)5,275
1,932,750 1,997,079
1,947,902 2,118,448
2,102,149 2,100,217

449,584
513,349
478,152;
458,925!
582,790 j

190,071

201.150
221,186
228,209
234,712

185,72oj
188,230'

154,127

227.475

104,371

201,047;
199,715
205,194

190,079
200,293
252.848

233,273
222,292
243,870
272,258

311,583
277,759
287,001
285,733
314,280

315,789
302,995
250,015

373,304

292,520
288,415

314.322

463.702

457,535

430,302
405,341
404,903
545,050

347.580

548,580
390,873
491,463

323,241

312,522
320,392
311,894
341,386
390,283

395,308
427,747
552,285

193,141
197,822
180.999
193,831
202.743

220,484

444,333

400,514
470,508
490,211
550,601

400,700
472,523

400,900
•

205,195:

192,175|

2,502,773

145,021

*

135.400

101,011
164,701

2,170,918:20,110,368
2,060,299 25,483,012
2,829,975 20,550,427
2,308,431 26,728,408
140,040
132,985
164,005
170,375

1,059,257
1,540,115
1,078.942
1,785,971

2,150,913
2,218,998
2,880,250
2,250,241

23,059,822
23,470,998

20i).452

2,531,128
2,539,796
2,892,474
2,798,077
2,8 0,000

2,387,002
2,308,877
2,638,420
2,469,313

2,793,991

2,368,542

2,810,900

2,259,541
2,362,009

2,523,843
2.878,469

1,990,509

24,418.273

24,718,404

1,700,556 25,024,002
1,951,740 23,491,898
1.971,397 24,301,058
2,174,554 25,348.847

523,492
527,884
600,905

073,880

583,185

442,987

5,515,285

642,400
099,884

540,959
588,587

444,190
465,811

5,784,932
5,814,810

618,411

052,650

030,122

503,499

0,153,200

194,078

2 373,407

208,429

24)5,977

2,001,508

234,425

234,687
239,030
201,716

2,590,195

493,340

702,189

249, ,880
250,988
219,259

200,333
242,381
257,103
289,920
328,542

228,358

241,133

239,78?

226,702
222,929
259,751
209,153

230,451
238,185

242,797

250,900
278,691

256.310
309,91?

301,870
309,078
287,934
348,131
385,291

447,040
344.482
341,101
408,538
437,191

424,719 391,980
372,907
339,92
300,209 302,084
442.956 408,083
450,139 *413,558

374,045
320,301
329,395
374,124

709,825

078,170:

734,035

720,415
600,009
521.957 567.285
508,094 020,303
046,034 7o3,20Oi
753,551 *790,000

635,858
402,4591

610,082

099,003
476,356
502,734
014,639

311,784|

362,504
812,723

241.225

231,130
252,070
272,584

271,105
387,842

2.434,780

2,058,185
2,081,547
2,882,172
4.342,603
3,811,743

325,125
345,088
382,453

3,009.439
4,184,118

557,939

7,301,540
5,552,104

234,017
158,315
177,698
177,810

199,065 c2,542,943
171,844 2,252,988
177,591 1,940,790
193,509 2,160,77.3

184,950' 212,50? 241,771
131,052
185,271
211,001
110,103
139,430 150,903 211,103 304,773
*201,094
153,101, *101,358 *191,933 *178,703' *210,992
155,305' 175,220. 209,087- 234,898' 299,045 378,797

220,715
100,650

295,461
276,871
284.152
373,500!

153,550;
134,332

125,778
134,191
133,291
234,151
173,085

100,000
180,080

j

304,89?
307,810
274,476
320,398
415,370
206.322

179,343
161,100
109,733

223,708;
144,007
125,504
120,420

433,119!
551,003

278,037
298.824

331,046!
424,215

184,427:
172,853
151,702

179,730,
222,434:

329.249
304,811
441,798

203,805
174,328
155,09?
108,925

216,4431

204.863

172,199
107,754
179,155
221,409

103,452-

126,432,

772,792'

920,622 1,045,902 1.183,468

704,233

837,443'
840,891!
940,910;

702,403
727,059
704,007
793,075
877,015:

723,007
845,538
883,300

916,005
934,229
970,102
975,099 1,099,73'

106.305

154.678

166,472

201,906

130,040
130,780
142,095
120,519

127,718
1:44,110
123,655

129,480j

100,02))

217,574
173,671
107,544
190,934
197,999

122,774j
217,618
173,188

167,005
218,240.

1,078,544
1,112,719
1,1:18,385

243,004
*292,031
1,119,010
1,099.074
1,009,390
1,038,599

370,803
408,554
420,019

187,014
142,048
200,732
‘234,689

0,119,054

2,110,041
1,727,596
1.849,429

2,288,028

1,021,574 11,039,033
1,059,505 10,47-*,442
1,120,400 10,942,920
1,112,721 10,7/0,187

*1192932

120,349 1
157,603
149,080

210,842
184,807
107,288
178,708
190;033 203,893;
150,400 *172,898

319,713
228,851
242,800
257,522
250,765

292,905
245,220
242,401
253,303
2)3,408

Approximate figures.
Embracing corrections found necessary after monthly totals bad been published.
/ Not including rnd. Deo. & Sprtngf.
g Not including Utah lines.
h Including $135,000 traffic balances.




149,908

150.577

175,901
118,737

270,941
224,500
227,110
245,340
253,143

202,000
193,572
1887*/
243,511!
■228,281
Louisville Sc Nashville1883.
(2,028 to2,065 m.).. 1,118,735 1,014,807 1,140,340' 947,450 1, 062,348 1 090,706 1,124,770 1,251.127 1,334,179 1,504,465
(2,065m.).. 1,039,317 1,015,413 1,187,738 1,125,29111, 150,109 1 032,359 1,060,104 1,11 7,313 1,145,300 1,291,714
(2,005 to 2,023 m.).. 1,170,749 1,082,175 1,280,523 1,158,099 1, 101,403 1 030,578 1,057,332 1,078,790 1,148,214 1,203,409
(2,023 m.).. 1.050,680 1,050,103 1,101,950 909,2771], 038.894 l 121,192 1,259.774 1,200,507 1,258,192 l, 383,753
1887
(2,023 to 1,954 m.).. 1,228,093 1,170.453 1,328,230 1,178,320 |l, 254,930 l 200,149 1,320,603 1,309,561 1,437,90S * 1.530280
Memphis Sc Charleston1883
(330 m.)..
139,183
113,344
103,000
101,382
101,820*
80,388!
78,534
88,059
101,993
80,700!
(330 m.)..
111,010 112,881
111,925' 100,557; 101,023 117,705 105,471 114,063' 110,384 120,245
83,810
(330 m.)..
141,300
101,147
78.844
105,195
109,252
98,994'
81,721
95,824
133,795,
(330 m.)..
100,909
115,107
95,403
84,853
119,375! 120.680
100,231 115,171
90,287!
77,297'
1887
(330 m.)..
125,375
127,810
127,89 7
150,240
117,293 j 118,447
139,0871 156,499 *1/7,984
111,9)4
c

2,233,891
2,318,053
2,250,340

257,779
188,007
180,800
180,394
219,49?

156,967
130,703
127,329
123,260

178,702!

2,403, 459|2.647,908
2,027, 93212,340,'914
1,922, 235,2,552/324
2,328, 476! 2,740,150
•2,009, 794 2.853,642

2,742,480
2,083.597
2,858,258

8,000,00V

4,144,275
3,993,022
4,120,430
4,283,212

748,803
788,809
822,385
774,140
882,980

215,913
168.111
169.892
174,483
178,708

181,848!

1,851. 209 2,220 084
1,825, 348 2,201 241
1,760, 911 2,273, 278
1.971, 599 2,553 971
2,007, 89 * 2/ 59, .000

753,857
733,038
758,417

2,770,774

158,220
153,874!
109,714!
171,629

801,18'.

374,945

099,370
782,830
789.706
694,799

193,222
227,088
203,877

2,909,105
2,707,110
2,040,033
2,724,588
2,4 54,924

901,019

889,037
707,047
808,942

937,529

409,605
380,180
400,781
424,372

931,933
814,609
974,800
820,810:
950,897

188.932
100,290
196,256
182,686

8s819,010
8,709,275
7,993,m

89.858

394,434
455,593
412,289
309.311
379,424
411,380
394,380 456,6 L7
504,481 *550,335

847,439

I

749,220
092,712
703,920
737,121

58,051
71,228
68,29)

0,738,078

151,730'
133,637

208,801

68,574
70,252
70,932
72,519
90,674
95,802
109,707 *101,530

035,215

132,203
120.285
85,130
100,007
100,843

202.931

70,095

70,934

358,551

048,907!

148.400
121,676

248,142'
104,877
109,772:

713,103
702,027
700,407

284,680

421,359
504,179

150,180
124,959
85,708
135,788
180,183

113,553

51,530
65,584
57,732
80,840

345,300
270,079

572,983!

173,034
138,414
92,297
154,223
189,001

103,080

3,906,793
3,538,005
3,301,235
4,090,048

375,815,270,181

30m,097 307,430
3sS,£9 2 372,U311
410,328 *413,272!

2,482,824

020,018 678,781
494,230 h520,477
525,341
405,326
510,008
555,386
011,241! 077,241

171.395

118,360j

300,385
808,912
314,195
340,181

305,474
303,103

1,323,025

177,395

590,531
480,101
449,059

229,084
223,298
174,040
190,670
226,149!

85,480

1,807,372

128,978

203,093
205,706

294,490
335,741
374,448

237,517
217,000
108,812
203,161
229,081

103,003

127,497
126,737

142,044
124.254

122,373

190.313

204,032
309,324
330,013

233,300
218,759
158,108
201,677
233,440

204,934
112,159
154,082
157,774
144,197

1,392,587
1,448,258

211,204

359,273
300,049

164,954
189,589
129,572
157.849
173.500

120,824
131,012
102,143
120,779

117,441
118,297

122,190;
123,940 I
128,845:

241,145
220,260
245,523 247,953
255,268 *234,179

340,085
302,200:

283,157

121,942
131,512

157,0?8|

152,599
154,38L
147,943
133,305 i

131,513
149,950

8,093 514
2,933 309

249,507

304,401
294,113
257.285
281,588
331,298

793.761

2,840,771
2,790,450

244,117
200,847
230.482
237,453

200,380
232,007
270,458

272,322
291,519
270,098
277,376
302.706

782,749
959,948

281,207
288,415
260,909
3«)0,779

15.571,398

15,984,307

240,517

208,826
212,051

331,109
324.400
844,023
414,382

813,099
808,715
857,753
833.500

308,200
274,132
313,000
290,070

15,909,440

10,291,888

190,123

187,247:
195,084:
201,751

339.151

915.957

1,312,739
1,235,082
1,253,374
1,524,929

209,515
177,08?
213,631
214,384

224,937!

505.744

979,717
820,572

209,002

1,401,922
1,003,413
1,719,355

1,530,274

199,929’

208,208

003,370

189,058

184,041

349,503
316,204
319,008

t

1,071,889
1,165,102
115,700' 1.076,180
128,014 1,213,686

192,438
179,270i

193.067,

484,654

93,034
140,909

158,001
150,514
140,730
100,190

299,973
297,853

$

108,995
149,079

501,480

217,726

497,183

190,179

741,252

307,040
281,4l3i

Total.

-

217,707j

201.917
240,523

02,9-12'

|

200,357
281,10)

Dec.

495,020
409,130
476,229
499,087
592,339

191,098'

173.110
210,820
194,008

310,147
290,145

j

205,540

2.100,031
1,976,177
2,030,803
2,140,493
',249,484

442,878

.

141,250
122,080
172,544
199,108

83,172,

1.937,916 1,824,705 2.495 124
2,077,182 1,735,199 2,447,495
1,992,485:1,312.834 2,224,304
2,148.532 2.330,741 i 2.748.175
2,140,83 > j 2,167,801 2,382,103

1,359,199'1,257,040 2,043,730

180,792
143,850
152,094

1,501,370 1,506,201 +1001221

298,030
300,211
290,002
317,102
344.760

313,542;
268,775
338,154
355,490

55,498
45,949

427,885
324,032
422,487

137,803

1,452,906 1,362,983 1,549,834
1,391,319 1,513,046 1,742,000;
1,243,909 1,386,585 1,076,075
1,341,951 1,460,240 1,087,348

129,005
124,231
113,565
117,022
112,091

47,893
47,388
55,041
59,278
70,051

317.988

104,273

107,874
97,212
85,079
99,950
99,319

111,028;

108,838
123,688
98,637
131,878

124,072
153,792

201,103

295,500

170,318
203,444
195,995!
210,108!

104,428

102,282
109,751
80,739
97,459
93,924

273.241

191,782

97,750
121*, 017

$

$

112,503
109,734

115,120
121,898
88,777
108,494
94,301

201,169

339.521
371.701

$
96,380
95,270
90,523

100,480
122.760
92,152
95,003
90,838

245.457

286,875;

310.592

308,465
350,283
331,452

$
02,043
86,087
77,351

240,435
237,634

253,446
200,072

1,025,080
1,648,220
1.992,484
1,380,903
L,985,385

72,345
73,900
70,092
82,604
115,973

Nov.

Oct.

Sept.

209,100
235,216

218,094

040,835
557,841
072,509

68,011
88,345
117,008

Aug.

210,016
200,418
230,451
218,124
217,440

251,970
280,021

000.042

I
72,225
79.749

78,359
88,543
08,224
78.275
114,789

July.

208,672
221,573
239,385
211,355
210,788

292,910

640,380

June.

~$

$

89,015

RAILROADS.

PRINCIPAL

May.

96,157
97,303

135

1,033,534 1,415,514 1,278,154 1,314,913 1,261,085 1,325.710
1,107,020 1,404,056 1,306,000 1,343,362 1,254,029 1,301,639
1,064,748 1,340,135 1,297,825 1,184,080 1,218.772 1,181,784
1,057,407 1,309,352 1,261,479 1,198.1731J ,252,75411,303,110
1,230,463 1,702,028 1,684,353i 1,553,719! 1,541,870! i;534,902

Quincy-

to 3.322 m.)..
to3,467 m.)..
to 3,640 m.).
(3,640 to 4,030 m.).
(4,036 to 4,495 m.)..

Chicago & Eastern Illinois—

1886*
1887*

$

82,451
89,276
98,450
96,391
124,505

OF

! March. April.

252,913
217,349
272,309

223,719
177,563

(502 m.).
1502 m ).,
(502 m.)..
(502 m.).,
(502 m.).,

Feb.

187,001
201,964
202,537
207,548
195,933

213.863

(490 m.).,
(512 m.).
(512 m.).,

1887*

EARNINGS

EARN IN Gb

201,930
152,109
107,419
155,590

158,754
150,541
100,081

2,025,109
1.712,399
1,078,330

149,353

1,753,300

235,972
185,040
207,397
227,309

202,812

2,927,533

1,307,394
1,199,590
1,129,894
1,281,997

1,272,924
1,292,12?
1,104,212
1,278,905

14,169,257
13,002,447
13,072,044
13,998,290

150,749
174,634
158,933
177,797

1,299,425
1,428,682
1,339,849

154,207!
142,185!

15O,901j
175,4081

107,943 c2,302,023
234,259 c2,412,078
209,973 2,542,811

1.444,038

INVESTORS’

SUPPLEMENT.

MONTHLY EARNINGS OF PRINCIPAL

8648 11

Feb.

Jan.

Milwaukee Lake 8. & West.—
1888
1884
1886
1880
1887

(385 to 480 m.)
..(480 to 551 m.)
(561 to 573 m.)
..

335448881118435.7

.

Minneapolis & St. Louis—

(351 m.)
(351 m.)

1888
1884
1886
1880
1887

(351 m.)

Mobile & Ohio1886

(528 m.)..

1887a*

((587 m.).

.Nashville Chatt. & St. Louis1888
(550 m.).
1884
(580 m.).

853 1

(000 m.)

1887

Hew York Lake Erie & West.—

(1.022 m.).

1885 /

New York <fc New England1888
(384 m.).
.(384 m.).

1886.

(384 m.)

New York SHsq. «fc West.—
(144 m.)..
1884
(144 m.)..
(144 m.).
(144 m.)..

1880

(144 m.)..

Norfolk & West.—
(428 to 502 m.).

1883

68,107
64,055
70,605
81,050
84,590
200,487

213,020

279,305
409,846
(323 m.).

1880

Northern Paciflc—
(1,535 to 2,305 m.).
(2,449 to 2,453 m.).
(2,453 to 2,091 m.).

(2,895 to 3,082 m.).
Ohio & Mississippi—
1887

1886.

(010 m.).

1887

404,210
400,123
514,947

170,891

147,935
194,075

171,079
190,751
167,495
172,330
253,201

170,661
101,957

195,468

216,658

197,799

187,475
105,007
215,250
258,877

218,196
182,116
224,487
272,481

210,5«e
192,805
223,311

201,320
203,737
191,840

2,111,450
1,784,039
1,501,722
1.985,300

2,580,956
1.801,214
1,737,458
2,051.095

187.350

172,812

222,72(

140,036
108.785

147,700
178,139
241,071

1,690,909 1,548,474 2,055,988 2,057,547
1,495,541 1,727,434 1,015,304 1,569,508
1,568,523 1.469,012 1,4*1,014 1,451,9:33
1,793,221 1,741,35* 1,951,877 1.887.505
1,940,403 1,86 ■',122 2,098,955 2,000,573

98,341

87,054
86,781
85,294
87,20*
107,770

100,283

191,344
225,357
1V0.281
221,789
299,304

217,834
210,298
220,410
277,307
822,470

190,990
211,522
206,484
207,559 ,
322,691

205,603

203,610

202,430
192,827

183,809
191,767

235,701

228.126

321,814

3c4,2oO

398,013
389,049
430,901

402,564
4*3,300

454,749
450.010

477,848
454,917

400,147
514,022

411,397

447,230

513,500

495,070

416,635
410,219
432,530
554,464

68,505
74.382

488,990

■

328,158
520,085
509,904
594,240

302,145
300,301
274,180

231,023
207,879
274,430

295,219

311,028

1,823,508 23,888,705
1,570,385 20,363,320
1 -872,887 19.559,054
1,985,149 23,002,507
3,027.257
3,240,713
3,449,464

347.703

320,780

3,956,311

80,782
97,275
97,344

107,735

112,545

1.003,001
1,034,210
1,092,354
1,129,440

118,907

94,042
99,059
105,087
100,866
131,409

73,831
87,080

101,356
94,846
131,474

90,085
95,417
105,354
102,*17
131,023

219,188
185,824
210,476
250,280
334,704

201,711
228,406
250,196
287,407
385,0*2

331,210
287,201
288,495
270.01C
285,981
207,374
334.712
319,225
404,7*4 *897,752

271,177
244,810
270,030
337,708

232,854
247,103
207,337

2,812.775
2,711,152
2.771,121
3,252,058

477,510
411,723

510,427
451,376
502,027
008,028

476,811
504,754

519,795
534,011

472,944

510,825

474,805
483,594
493,150

442,269
5O7.0V.9
457,809

5,521,878
5.490,922
5,474,010

1,270,022
1,110,379
1,249,358
1,290,900

850,184
758,229
775,371
899,005

10,149,050
12,013,305

449,401
530,336

393,854

80,405

249.428

452,032

1,043,024 1,194.714 1,397,222
1.032,602 1,230,500 1,401,511
971,289 1,224,955 1,522,285
1,220,358 1,372,073 1,443,067
1,299,680 1,408,210 ♦1598842

378,100

409,911

4,189,380 4,061,750 4,303,000 4,150,871
4.002,027 4,150,309 4,207,173 3,900,174
3,635,374 3,704,890 3,890,409 3,735.038
3,901,855 3.802.01? 4,178,5*0 4,330,101
4,410,433
4,342,834 4.S05.U4O 4,911,858
3,851,771 3,988,788

4,130.950
3,989,085
3,085,105
4.356,077
4,654,370

4,775,380
4,617,894
3,950,3(H)
4,585,390
5.022,012

4,634,998
4.458,871
4,270,02*
4.674,052
5,000,56*

47,549
54.783
53,799
73,343

78,384
81,202
81,015
90,778
80,630

74,096
79,157
90,48 L
*77,^54

204,201

2.180,982
1,703,338
1,912,520
2,048,512

229,940

381,180

322,092

300,294

257,135

2,328,893
2,358,682
2,134,527
2,400,771

390,772
411,091

335,431

307,119

209,999
197,512
193,327

2,100,412
2,045,951
2,240.201

311.010

30*,119
297,924

270,198

319,379
312,750
275,4*0
298,035
290,102

205,000
190,001
181,488
213,769

2.013,134 2,411,140
2,104,375 1,807,857
1.835,604 1,980,048
2,239,877 2,2:14,856

470,443
353,709

316,882
300,470
288,904

200,801

213.200
205.024

270,148

800,090
282,202
281,799

380,372
341,591
305,759
390,097

235,246

215,422
239,050

060.412
789,940 829,657 850,223
563,903
978,950 1,441,514 1,2*7,*05 1,143,123 1,022,438
901,100 1,012,507 1,000,011
091,012 877,605
858,110
993,484 983,731 1,077,350 1,100,020
1,049,218
1,149,102 1,202,576
1,121,000
525,’. 28 1,030,079

358,985
014,103
553,582
480,330
571,421

2,206.042

310,092
254,420
309,743

103,037
105,826

78,511
82,278
90,331
87,310
107,171

289,240
2*4,637
278.839
300,080

1,549,020

129,720

339.965

89,189
97,017
100,096
97,841

70,974
71,704
91,09*
89,171
112,588

00,697
04,140

271,057
314,310

1,651,602
1,734,027
1,714,758

305,877
800,734

88,152
82,970
90,222
84.057

300,690
283,531

149,802
145,381
130,488
149,184

351.011

333,152

303,035
273,702
200,305
303,314
313,0iO

159,310
160,192

358,571
281,638

391,825
300,794
327,246
379,544

275,891
275,507
262,102
314,504
343,922

107,248

107,224

T
1,058,064
1,114,310
1,305,277
2,317,802

2,131,200 2,180,675
320,151
270,217
295,907
345,502
337,257

290,311
259,471
203,934
320,832
358,302

220,090
270,924
312,080

257,173

165,442

245,7:13

252.603

230,714

144,505

177,71u

174,919

237,711

280,062
253,332

174,350

250,271
212,459
223,590
234,410

123.330

184,052
249,401

245,681
243,047
230,420
260,934
298,771

101,854

185,902
160,669
158,045

101,435
188,107
165,3*1

1,283,016
1,490,394
1.371,024
1,551,480
1,701,182

150,911

156,584
143,006

200,104
200,819
180,737

195,202

210,495

95,215

176,053
149,527
171,555

134,464
129,323
109,892
155,027

149,772
154,407

107,139

200,499

107,790

75,529
87,588

132,994
204,799

172.410

123,727

166,152
1*9,405

108,245
101,283
104,494

121,304
118,677

103.943

Total.
.

320,214 *350,027 *332,123 *298,512

141,976
142,774
122,653
159,695

128.428

216,212
179,228
201,081
184,203
236,015

99,206
148,605
248,146

I

$

1
112,524
103,837
100,284
254,976

137,027
100,118
135.557
154,025

190,950

142,712
102,071

104,213

f
100,585
90,031
134,221
251,450

Dec.

Nov.

Oct.

124,850
138,004
132,276
120,*82
105,906

129.108

120,692
103,300 !

*
98.246

118,806
150,( H)4
131,331
118,394
100,08:1

184.845
185,275

109,151
144,018

218,44-1

Sept.

Aug.

142,293
151,016
138,883
118,7*8
113,459

147,429
153,94 7
151,060

107,548
90,491
113,102

t
88,236
90,89*
110,272

.

-

135,868
151,301
151,255
110,519
113,552

83,459
133,428
122,562
73,095
117,845

1,524.809
1,507,211
1,315,443
1.531,004
1.705,070

July.

$
*
!
93,297
90,037
91,047
95,034
90,5*3
97,383
108,480
111,570
98,43*
199,032
230,132
160,850
*210,008
*344,439
247,794 *232,203

03,435
73.214
78,308
72,179
74,209
100,532
97,079
*142,885 *158,554

197,388
180.992
184,980
185,519
242,094

RAILROADS—(Concluded).

June.

May.

f
79,851
100,357
100,771
149,138

*

$
01,928

229.255
218,907

Northern Central-

March. April.

[Vol. XLV.

334,313

354,880
357,152
344,019
305,608
307,74?
393,261
4tb,054 *408,753

270,033
301,901
325,054

4,875,348

4,473,479
3,950,937
3,071,539
4,347,218

11,349.699

12,829,552

4,250,150
283,076 3,702,959
312,904 3,070,015
i90,918 3,827,832

Pennsylvania—
1884

(+2,322 m.)

1887

Peoria Decatur

& Evansville-

(254 m.)..
(254 m.)..
(254 m.)..
(254 m.).
(254m.)..

1880
1887

Philadelphia & Reading—

(840 m.)..

Richmond & Danville-

\757 m.)..
(757 to 774 m.)..

1883
1884
1885
1880
1887

(774m.)..
(774 m.) .
(774 m.)..
Charlotte Col. & A ugusta—

(308 to 337 m.)..
(337 to 373 m.).
(373 m.)..

1883

1880
1887

49,622
04,590
61,275

47,993
57,354
55,532
60,487
01,^57

54,921

70,039

1880
1887

••

(138 m.)..
(138 m.)..

038 to 188 m.)..
(188 m.)..

1880
1887*

gt. Louis & San

Francisco(725 to .42
(770 to 815
(815
(815 to *77
<877 ro 1.190

m.)..

50,523

74,820

62^26

297,287
2*9,329
292,077
281,114
300,290

258,091
251,819
260,294
209,834
290,501

272,282

47,961
48,241
40.280
47,877

44,094
38,299
42,745
44,489
50,834

40,785
40,879

94,109
82,931
81,093
84,912
79.630

84,043

52,954

08,232
75,578
70,305

54,810
52,82*
53,802
51,089

88,021
59,767
09,020
78,527
50,148

43,092
45,728
39,481i
41.003!
30,649

37,308
36,037
35,017
29,316
27,503

28.148
30,974
24.052

137,766
13 <,302
120,770

128,433

05,370

71,077

95,591
71,928
70,311

89,017
00,873

82,160

207,409
317,181
301,09?
320,797

313,829

104,388'

113,823

123.580

125,825!

107,115
100,004
93,832
117,719

109.590
97.905
1U5.018

103,720

119,363
121,135
122.041
134,704

130,811
125,190
120,327
121,438!

20,090

27.557

26,167

29,212
33,805

35,083
33,010
42,308
49,537

31,054

37,972

21,760
33,8:14
37,273

45.837

40,083

55,483

56,807

128,766
182,157
99,790
93,0751

133,093
125,129
113,951

102,270

34.574

49,949
132,093

114,443
97,207
94.U07

102,990
71.892
05,525
58,202
5*, 181
73,924

280,990

m.)..

313,759!

m.)..

275.313

m.)..
m.)..

380,480

Minn. & Manitoba.—
(1,250 to 1,19 » m.)..
(1,327 to 1,471 m.)..
0,475 m.)..
(1,475 to 1.7(H) m.)..
(1,700 to 2,207 m.)..

493,148
452,570
402,125
405,539
459,250

95.742

UO.SIO, 138,752

63,566!

80,951

00,878j
73,038!

74,227
08,058

04,953;

00,410
74,477

01,187!

49,327

122,580

139,077
27.523
32,124

30,437
32,713'
57,334

101,73l!

31,755

25,039

131,313
118.993

121,908
137,008

23,201
29,629
35,102
44,028
59,901

73,575

03,27

Oj

282,000!

350.809

365,873
339,377
419,407

443,770,

457,584|

398,614! 740,113

*15,945
7*9,502
712,40*
010,756
080,057

728,207!

714,009
712,105
511,615
479,694

702,041

570,011
001,910
079,803

3v3,' 67
354,809

021,107!
4*9,542
433,402
5*0,510

013,0*0

362,292
337,387
381,172
322,901
305,397
331,0**
358,05* *471,800

1,570,714 29,511,580
334,640

303,704
371.270
305,998

429,834
429.179

425,510
425,721

306,710

421,974

348,132
340,148

82,021
84,55*
74,029
85,101

77,913
83,006
70,340
07,304

3,845,152
3,873,724
3,071,629

4,000,225
828.900

70,15*
88,102
70,919

05,570

08,050

54,803

737,890
688,321
605,550
010,594

140,777
131,300

175,800

185.205
170,20*
173,350
144,753
171,260
155,023
151,894 *151,200

176,107

1,080,193

107,595
152,939
164,014

147,046
122,715

118.443

149,890

115,014

13i»,501
137,087

123,270
120,513

132.6*1
125,521

133,797

37,879
41,327

37,547
37,854

46,241
42,879
47,*60
00,300
*70,900

96,753!
95,477

91,9*2

44,000
41,513
40,771:
52, to t

'

83,307
75,7(44

33,784

30,132
38,039

775,527
808,100

783,444

1.590,098
1,553,509
1,505,330
382,037
435,720
477,990
535,905

30,553
35,719
38,833

44,957
48,794
40,821

43,00*

49,1*9

55,990

03,795
142,427
120,405
120,170
113,807
129,971

141,793
113,230
123,389
127,230

141,408

131,522

130,249

137,258
131,564

104,557.

114,801;

132,762

117,568!

95,10*
112,0 0
113,732

55,500

71,714

44,596
52,817
07.183

58,207

80,732
02,191
75,309
78,695
90,790

82,040
75,509
*6,377
88,773
104,320

74,901
00,854
09,735
80,440

01,453
72,2-4
88,602

S32.408
741,150
760,316
803,991

370,100
512,75*

395,402
390,957
400,*24
450,74*

403,640

3,890,565

700.382
819,439
080,850

08,345j

60,007

72,000
81,501

44.399

37,240
39.575

48,217

42,105

74,108

270,101
359,111
315,924 j
40),207!
5i9,u50i

370,390
433,428
308,44) |
400,048
577,384

a*3,082
402,943
394,805
479,505
573,973

023,7271
005,17)0

032,148,
571,702,
525,009;
027,704

754,473 941,206
75*,587 1,014,802
747,57* 1,004,789
950,057
*19,799
847,8U0 1,061,933

847,003

3,*S1,639 2,948,059

2,625,889

2,51 *.122| 2,708,627

2.429,279;

550.3*7j
571,526
0il,344i

084,934!

..(.W-i to 4.CM n..).. 1,916,854 1,673,224 2.391.758 2.363.27? 2,351,013 2.273.593 2.491.O35! 2,447,402
2,099.898 41739453 2,375,899 2,417,710
(4,250 to 4,470 m.).. 1,531,094 1,540,754 1.965,497! 2,110,520
1.9*7.191 2.007.52*' 1.955.390 2,304,990 2,331,130
(4.470 to 4,519 m.).. 1,074,949 ',503,949 1.975.517
1.954.20* 2.113 440 2.211,44* 2.203.821 2,442,0c*! ,,5*7,731
(4,519 to 4,594 m.). 1.428,029! 1.035,141
1,737.353 1.075.914 2.571.305 2.342.15a 2.1 **.27' 2,500.82* 2,479, v?2 2,530.5*9

(4,594 m.).

Approximale figures.
+ And 00 miles of canal.
5 Including Central of N.J. from June 1, 1883,1
included in any of the years.
f Includes 08 per cent of earnings
fJi t 3*6 charged off by iir. Adams on assuming office.
a Includes St. Louis & Cairo.




2,297,043 30,300,199
2,315,503 30,972,101
2,592,529 2U,2:40,543

1,908,012

317,594
293,147

*

Danv
are not
v
t Aftc-

62,343
77,955

721,255
759,707
730,985
814,747

80,24?
98,019
88,737
73,410

87,43*
105,029
108,052

53,270!

2,929,016 3,011,482

57,055

04,849
5l,13n
03,400
41,846
*45,3o0

87,050

57,048
44,801
47,534

3,054,916
2,554,133
2,606,450
3,001,522

61,105

49,205

55,223

78,931

00,914
55,410
47,790
54.000
65,501!

3,333,217 3,531.430
2,870,451 2,940,541
2.*00,38* 2.878,370

4,428,210 50,379,008

35,023
30,*80
31,082
28,219
29,910

45,982
49,240

104,431

58,976
71,43-1
55,099
41,2*8

61,835
57,139
04,202
04,130

4,040,0*2 45,015,027

98.205!

95,745
80,534
98,177

100,150j

06,845
09,522
07,919
80,093
*80,907

73,659

3,840,510 51,083,244
3,709,32* 48,560,911

71,411
04,270
80,080
01,3*0
*09,000

101,758
90,095

93,162
97,201

4,447,547
4,359,174
4,737,351
4,989,521

58,780
48,070
50,259
51,573
00,703

90,953
81,725

289.150;

407,446
395,217
414,810
434,809

305,370

104,847

262,217
339,003
352,493
352,209
443,003

285,544!
397,035!

250,923
272,277
280,598

104,912

353,884
427,533
307,803
359,002
547,741

229,411!
322,805
300,822!

60 205

1,090.877 2,810,489 2,979,094 3,538,0:43
2,827,942 2,14*,704 2,707,792 3,299,015
2.377,424 2.428;294 2,041,*52 2,940,750
2 409,440 2,532.304 2,703,206 .2,808,209
l,?78,U81 1,775,912 1,824,057 2,055,704

70.618

302,7801

1880.
1887

50,509

48,297
51,881
47,945
50,921

352,414
350,129
300,502
392,514
304,378

50,040
72,343
53,714
44,383

(353 m.)..
(353 m.)..
(355 m.)..
1880
(355 m.)..
1887
(355 ni.)..
Western North Carolina(190 to 200 tti.)..
(200 to 274 m.)..
<274 m.)..
(274 to 290 m.)..
1880
1887
(290 m.)..
gt. L. Alt. & T. H. Main Line(1»5 m.)..
095 m.)..
(195 m.)..
1880
(195 m.)..
1887*
095 m.;..
gt. 1,. Alton & T. II. Brnuclies(121 to 138 m.).

188s!

51.207
03 114

58,081
59,188

329,248
333,755
309,890
340,513
303,401

(294 m.)..
(294 m.)..
(290m.)..
(290 m.)..
(290 m.)..

1884

1'".ClliC“

08,175
62,555
53,438

259,757
200,8*9
325,053
278,527
328,029

(573 m.).
(373 m.)..

Virginia Midland—

1884

59,710
69,742
59,791
57,248
78,882

1,720.616
2,855,673
2,343,973
2,177,972
1,670,821 1,518,250 1,759,584 1,751,844

80,494
03.508
08,576

Columbia & Greenville-

1880
1887*

3,712,215
3,420,733
3,075,700
3,549.475

(840 to 1,583 m.).. 1,008,775 1,453,802 1.009,241
(1,583 m.).. 2.195,801 2.002,342 2,188.144
(1,583 m.).. 1.840.300 1,794,045 1.919,502
(1,583 to 840 m.).. 2,055,584 1,949,242 2.290,118

18855
18805
1887

1880
1887»
gt. Paul

3,929.357
3,574,233
3,277,522
3,421,530

of

)

372,542
504,041

879,440

859,007
810,014

700,101

*

JLOuU )

4.043,590
4,3*3,400

4,874,027

8,389.095

8.314,197
7,521.138

7,427,330

25,925,171
20,003,797

2,331.431!

2.51.7, <93! -’,755,154
2.74',9'U:

1,278,345

027,250

2,480,*27| 2.049,214 2,414,238

.N Qv

'. V.

477.804
519.404

1452,017

1,484,069
1,323,920
1,209,713

»
tile C<*r II 111^9 v*

tllC L'UU.l tv

Pennsylvania & Ohio trom and

rvtQ

after May, is»o.

November,

INDEX.

1887.]

INDEX
With the

TO

NAMES

OF

1*7

RAILROADS.

changes which are constantly taking place in the titles of various railroad companies by reason of
foreclosures, consolidations, &c., it frequently occurs that much difficulty may be experienced in looking up the name of a
former company in the tables of the Supplement. To obviate this difficulty, and to facilitate reference to any name, whether
new or old, the following index has been prepared :
numerous

FORMER NAME.

WILL NOW

Alabama Central /.

RE FOUND UNDER—

East Tenn.Virginia A Georgia.

Allegany Central

Lackawanna A Pittsburg.

American Dock & Tmprovem’t Co...Central of New Jersey.
Androscoggin A Kennebec
Maine Central.
Atcliison A Nebraska
Chicago Burlington & Quincy.
Atchison A Pike’s Peak
Union Pacific, Central Branch.
Atlantic & Great Western
New York Pennsylvania A Ohio.
Atlantic A Gulf
Savannah Florida A Western.
Atlantic Mississippi A Ohio
Norfolk A Western.
Augusta A Knoxvihe
Port Iloyal A Augusta.
_

Baltimore Short-Line
Bay City & Saginaw
BeUefontaine & Indiana
Belleville ScCaroudelet
Beloit Sc Madison
Black River & Morristown
Boston Clin. Fitch. Sc New Bed
Boston Hartford Sc Erie

Brunswick Sc Albany
Buffalo & Erie
Buffalo Pittsburg Sc Western

Burlington Sc Missouri
Cairo Arkansas & Texas
Cairo A Fulton

Canada Central
Cape May Sc Millville
Cedar Rupids Sc Clinton
Cedar Rapids Iowa Falls Sc N. W
Ceaar Rtpids Sc Missouri River
Central Vermont
Charleston A Savannah

Chicago Clinton DulmqeAMinn
Chicago Derorah Sc Minn

Buffalo New York & Philadelphia.

Missouri Pacific.
Cent ral Pacific.
Atchison Topeka Sc Santa Fe.

United New .Jersey.

Canadian Pacific.
West Jersey.

.Burlington'Cedar Rapids Sc N.
Burlington Cedar Rapids Sc N.

Chicago Sc Northwestern.
Consolidated Vermont.

Savannah A Charleston.

Chic. St. Paul A Minn

Chic. St. Paul Minn. Sc Omaha.

Chicago A Southwestern....
Chicago A Springfield

Chieago Rock Island A Pacific.

Chicago St. Louis A New Orleans...Illinois Central.

East Tennessee A Georgia
East Tenn; ssee A Virginia
Easton A Amboy
Elizabeth City A Norfolk

Escanaba
Essex

A Lake

Superior

..—

Chicago Sc No. West.
Chic. A East Illinois.
Chicago & East. Illinois.
Chicago Milwaukee & St. Paul.

Dayton Fort Wayne A Chicago.

Wabash St. Louis A Pacific.
Union Pacific.
Chicago A No. West.

Fort Smith A Van Buren Bridge

Eel River.

Duluih South Shore & Atlantic.
.Detroit Grand Haven

A Milwaukee
Lake Shore & Michigan Southern.
Detroit Grand Haven A Milwaukee

Chicago Burlington A Quincy.

Chicago Milwaukee A St. Paul.
..St. Paul A Duluth.

East Tenn. Virginia A Georgia.
East Tenn. Virginia A Georgia.

Lehigh Valley.

Norfolk A Southern.

Chicago A Northwestern.
Eastern (Mass.)

Chicago Milwaukee A St. Paul.

Flint A Pere Marquette.
Atchison Topeka A Santa Fe.
Florida Railway A Navigation Co.
St. Louis A San Francisco.

Fremont Elkliorn A Missouri Val. ..Chicago A Northwestern.

Galena A Chicago Union
Chicago A Northwest.
Grand Rapids Newaygo A L. Shore. .Chicago A West
Michigan.
GranttRiver Valley
Michigan Central.
Great Western (Ill.)
Wabash St. Louis A Pacific.
Green Bay A Minnesota
Green Bay Winona A St. Paul.
Greenville A Columbia
Columbia A Greenville.

Hannibal A Central Missouri....
Hannibal A Naples

Harlem A Portcliester
Hastings A Dakota
Henderson Bridge Go
Holly Wayne A Monroe
Holyoke A Westfield:
Houston A Great Northern

Hudson A River Falls
Illinois Grand Trunk

Missouri Kansas A Texas.
Wabash St. Louis A Pacific.
New York New Haven A Hartford.

Chieago Milwaukee A St. Paul.

Louisville A Nashville.
Flint A Pere Marquette.
New naven A Northampton.
Missouri Kansas A Texas.
Chic. 8b. Paul Minneap. A Omaha.

Chicago Burlington A Quincy.

Hfinois Midland
Terre Haute A Peoria.
Hlmois A Southern Iowa
Wabash St. Louis A Paciflo.
Indiana A Illinois Central
Indianapolis Decatur A Springfield.
Indianapolis Bloom. A West. Exten.. Champaign Havana A Western.




Lake Shore

Michigan Southern
Chicago A Alton.

Georgia.

Lackawanna A Bloomsburg
Lafayette Bloomington A Muneio..
Lake Erie Wabash A St. Louis
Leavenworth Atchison A N’west...
Leavenworth Lawrence A Galv
Leeds A Farmington

Lehigh A Wilkesbarre Coal Co
Lexington A Southern
Lincoln A North western

.Delaware Lackawanna A Western.
.Lake Erie A Western.
.Wabash St. Louis A Pacific.
.Missouri Pacific.
.Kansas City Lawrence A Southern
.Maine Central.
.Central of New Jersey.
.Missouri Pacific.

.Ouicago Burlington A Quincy.

Long Dock Company

.New York Lake Erie A Western.
Louisiana A Missouri River
.Chicago A Alton.
Louisville Cincinnati A Lexington. .Louisville A Nashville.
Louisville N. Albany
St. Louis.. .Louisville Evansville A St. Louis.
Lowell A Lawrence
.Boston A Lowell

Lynchburg A Danville

.Virginia Mi Hand.

Macon A Augusta
Macon A Western
Manchester A Keene
Marietta A Cincinnati
Marietta Pittsburg A Cleve
Massachusetts Central

Georgia RR. A Banking Co.
Central Railroad A Bank. Co., Ga.
Boston A Lowell.
Cincinnati Wash. A Baltimore,
Cleveland A Marietta.
Central Massachusetts.
Connecticut A Passumpsic.
Louisville A Nashville.

Massawippi
Memphis A Ohio
Menominee River

Chicago A Northwest.
Manhattan Elevated.

Metropolitan Elevated
Michigan Air-Line

Michigan So. A North’ll Indiana
Middlesex Central.
Milwaukee A Madison
Milwaukee A Western
Minnesota Central
Minnesota Valley

Michigan Central.
Lake Shore A Michigan Southern.

..Boston A Lowell.

Chicago A Northwestern.
Chicago Milwaukee A St. Paul.
Chicago Milwaukee A St. Paul
Chicago A Northwest.
Missisquoi
Consolidated Vermont.
Mississippi Central
Chicago St. Louis A New Orleans.
Missouri River Fort Scott A Gulf ...Kansas City Fort Suott A Gulf.
Missouri River RR
Montclair
Mouticello A Port Jervis

Missouri Pacific.
New York A Greenwood Lake.
Port Jervis Mouticello A N. Y.

Nashua A Rochester
Newark A New York
New Bedford Railroad
New Jersey Midland

Worcester Nashua A Rochester.
Central of New Jersey.
Old Colony.

Michigan Central.

Evansville A Craw fords villo
Evansville A Terre Haute.
Evansville Henderson A Nashville..Louisville A Nashville.

Fargo A Southern
Flint A Holly
Florence El Dorado A W
Florida Central

Michigan Central.
Northern Pacific.

Illinois Central.

Cincinnati A Baltimore
Cincinnati Wash. Sc Baltimore.
Cincinnati A Indiana
Cin. Indianapolis St. Louis Sc Chie.
Cincinnati Lafayette A Chieago
.Cin. Indianapolis St. Louis A Chic.
Clayton A Theresa
Utica A Black River.
Cleveland Mt. Vernon Sc Delaware..Cleveland Akron A Columbus.
Cleveland l’ainesville & Ashtabula..Lake Shore A Michigan Southern.
Cleveland A Toledo
Lake Shore A Michigan Southern.
Columbia Sc Augusta..
Charlotte Columbia A Augusta.
Col. Chieago A Indiana Central
Chicago St. Louis Sc Pittsburg.
Columbus A Indiana Central
Chicago St. Louis A Httsburg.
Columbus <fc Indianapolis Central...Chicago St. Louis A Pittsburg.
Columbus A Toledo
Col. Hocking Valley & Toledo.
Connecticut Western
Hartford A Connecticut Western.
Covington A Lexington
Kentucky Central.

Detroit A Bay City
Detroit A Eel River
Detroit M 'ckim c Sc Marquette
Detroit Sc Milwaukee
Detroit Monroe A Toledo
Detroit Sc Pontiac
Dixon Peoria A Hannibal
Dubuque Southwestern....
Duluth Short Line...'.

Detroit Lansing A Northern.
Burlington Cedar Rapids A North’u,
Chicago Milwaukee A St. Paul.
Chicago A Northwest.
Chicago Milwaukee A St. Paul.
Chicago Rock Island A Pacific.

Kalamazoo Allegan A Gr. Rapids . .Lake Shore A Michigan Southern
Kalamazoo A Schoolcraft
.Lake Shore A Michigan Southern.
Kalamazoo A South Haven
.Michigan Central.
Kalamazoo A White Pigeon
.Lake Shore A Michigan Southern.
Kansas City A Cameron
.Hannibal A St. Joseph.
Kansas City A Eastern
.Missouri Pacific.
Kansas City Lawrence A So. Kaus. .At-bison Topeka A Santa Fe.
Kansas City St. Jor. A Council B... .Chicago Burlington A
Quincy.
Kansas City St. Louis A Chio
.Chicago A Alton.
Kansas City A Southwestern
.S^ Louis A San Francisco.
Kansas City Topeka A Western
.Atchison Topeka A Santa Fe.
Kansas A Nebraska
.St. Joseph A Grand Island.
Kansas Pacific
.Union Pacific.
Knoxville A Ohio
.East Tennessee Virginia A

Chicago low a & Nebraska
Chicago Sc Michigan Lake Shore
Chicago A Milwaukee
Chicago & Ohio River

Dakota Central
Danville A Grape Creek
Danville Sc Vincennes
Davenport A Northwest
Dayton A Ironton
Decatur A East St. Louis
Denver Pacific
Des Moines A Minneapolis

International A Great Northern
Ionia A Lansing
Iowa City A Western
Iowa A Dakota
Iowa Midland
Iowa A Minnesota
Iowa South. A Missouri North.

Utica Sc Black River.
Old Colony.
New York & NewEngland.
Brunswick & W* stern.
Lake Shore & Michigan Southern.

C. M. & Sr. Paul.
Burlington Cedar Rapids Sc N.
Chicago S-. Louis Sc Pittsburg.
Chicago A* Alton.
Chicago Sc Northwestern.
Chicago Sc West Michigan.
Chieago Sc Northwest.
Chicago A No tlnvestern.

Chicago A Great Eastern
Chicago Sc Illinois River

Cin. Indianapolis St. Louis A Chio.

Cin. Indianapolis St. Louis A Chio.
Jeffersonville Madison A Lnd.
Missouri Kansas A Texas.

Jackson Lansing A Saginaw
James River Valley
Jamestown A Franklin
Joliet A Chicago

Missouri Pacific.

California^ Oregon
California Southern
Camden Sc Amboy

WILL NOW BE FOUND UNDER—

Indianapolis Cin. A Lafayette
Indianapolis A Cincinnati
Indianapolis A Madison

Cincinnati Wash. Sc Baltimore.
Flint A Pere Marquette.*
Cleve. Columbus Cin. Sc Ind.
Sr. Louis Alton & iVrro Haute.
Chicago Sc Northwest.

Chieago Burlington Sc Quincy.
:

FORMER NAME.

:

New Jersey RR. A Transportat’n
New Mexico A So. Pacific
New Orleans Jackson A G. N
New Orleans A Mobile
New Orleans Pacific
Newtown A Flushing
New York Elevated
New York A Manhattan Beach
New York A Oswego Midland
New York A Roekaway
Niles A New Lisbon
Norfolk A Petersburg
North Missouri
North Wisconsin
Northern Cross
Northwestern North Carolina
Northwestern Union
Northwestern Virginia

New York Susquehanna A Western.
Co.United New Jersey RR. A Canal (3o
Atchison Topeka A Santa Fe.
Chieago St. Louis A New Orleans.
Louisville A Nashville.
Texas A Pacific.

Long Island.
Manhattan Elevated.
N. Y. Brooklyn A Man hat. Beach Oo
New York Ontario A Western.
Long Island.

Cleveland A

Mahoning Valley.

Norfolk A Western.

Wabash St. Louis A Pacific.
Chic. St. Paul Minn. A Omaha.

Chicago Burlington A Quiney.
Richmond A Danville.

Chicago A Northwest.
Baltimore A Ohio.

Oakland A Ottawa River
Ohio Central
Ohio St West Virginia
Oil City A Chicago
Oil Creek
Olean A Salamanca
Omaha A Southwestern

Detroit Gr. Haven A Milwaukee,
Toledo A Ohio Central.

Orange A Alexandria
Ottawa Oswego A Fox River

Virginia Midland.
Chieago Burlington A Quinoy.

Pacific of Missouri
Paducah A Elizabethtown
Paris A Decatur
Pekin Lincoln A Decatur
Peninsular (Mich.)
Peoria Pekiu A Jacksonville
Pittsburg A State Line

Missouri Pacific.

Pittsburg Titusville <v Buffalo
Pleasant Hill A De Soto
Port Huron A Lake Michigan
Portland A Kennebec
Port Royal
Prairie du Chieti
Pueblo A Arkansas Valley

Col. Hocking Valley A Toledo.
Buffalo New York A Philadelphia.
Buffalo New Yo k A
Buff-do New York A

hila^elphia.
Philadelphia.
Chicago Burlington A Quiney.

Chesapeake Ohio A Southwestern.
Terre Haute A Peoria.
Peoria Decatur A Evansville.

Chicago A Northwest.
Wabash St. Louis A Pacific.
Buff. Rochester A Pittsburg.
Buffalo New York A Philadelphia*
Atchison Topeka A Santa Fe.

Chicago A Lake Huron.
Maine Central.
Port Royal A Augusta
Chicago Milwaukee A St. Paul.

Atchison Topeka A Santa Fe.

INVESTORS’

138

Quincy Alton & 8t. Louis

Quincy &, Palmyra
Quincy & Toledo
Quincy & Warsaw

8t.
8t.
8t.
St.
8t.
8t
St.
St.
St.
St.
St.
St.
St.
St.

Joseph & Denver City
Joseph & Pacific
Joseph & Western

..

Chicago Burlington & Quincy.
Wabash St. Louis & Pacific?.

WELL NOW BE FOUND UNDER—

8outhem Minnesota

Georgia & Florida

Savannah Florida & Western.
Atckison Topeka & Santa Fe.

Hannibal & 8t. Joseph.

Southern Kansas

Chicago Burlington & Quincy.

Spokane & Palo use.
Stanstead 8. <& Chambly

Northern Pacific.
Consolidated Vermont.

Sunbury & Erie

Philadelphia & Erie.

.Chicago & Northwest.

Buffalo Rochester & Pittsburg.

Detroit Lansing & Northern.

St. Joseph & Grant Island.
St. Joseph & Grand Island.
St. Joseph & Grand Island.

Louis Iron Mount’n & Southern.Missouri Pacific.
Louis Jacksonville & Chicago
Chicago & Alton.
Louis Kansas & Arizona
Missouri Pacific.
Louis Kansas City & Northern...Wabash & Western.
Louis & Lexington
Missouri Pacific.
Louis Rock Island & C
Chicago Burlington & Quincy.
Louis & Southeastern
Louisville & Nashville.
Louis Wichita & Western
St. Louis & San Fran jisco.
Paul & Chicago
Chicago Milwaukee & St. Paul.
Milwaukee Lake 8h. & Western.
Paul & Eastern Grank Trunk
Paul & Pacific
St. Paul Minneapolis & Manitoba
St. Paul & Sioux City
Chic. St. Paul Minn. & Omaha.
St. Paul Stillwater & T. F
J
Chic. St. Paul Minn. & Omaha.
Salem & Lowell
Boston & Lowell.

Sandusky & Cleveland
Cincinnati Sand. & Cleveland.
Sandusky City & Indiana
..Cincinnati Sandusky & Cleveland.
Sandusky Dayton & Cincinnati
Cincinnati Sandusky & Cleveland.
San Francisco Oakland & Alameda.Central Pacific.
San Pablo & Tulare
Northern (California)
Savannah Albany & Gulf
Savannah Florida & Western.
Savannah & Charleston
Charleston & Savannah.
Schoolcraft <fc Three Rivers
Lake Shore & Michigan Southern.
Scioto & Hocking Valley
Cincinnati Wash. & Baltimore.
Sioux City & Dakota
Chicago Milwaukee & St. Paul.
Sioux City & Paciflo
Chicago & Northwestern.
Sioux City & St. Paul
Chic. St. Paul Minn. & Ohama.
Smithtown & Port Jefferson
Long Island.
South Paoific (Mo.)
St. Louis & San Francisco.
South Side, (L. I.)
Brooklyn & Montauk.
South Side (Va.)
Norfolk & Western.
....




LVol. xlv.

FORMER NAME.

Southern

Chicago Burlington & Quincy.

Republican Valley

Saginaw & Western

"

WILL NOW BE FOUND UNDER—

FORMER NAME.

Rochester & Northern Minnesota
Rochester & Pittsburg

SUPPLEMENT.

.

Steubenville & Indiana

Chicago Milwaukee <fc St. Paul.

Pittsburg C. & St. Louis.

Taylor’s Falls & Lake Superior.... St. Paul & Duluth.
..Missouri Kansas & Texas.

Tebo & Neosho
Terre Haute & Southeastern
Tevas & St. Louis
.*
Toledo Cincinnati & St. Louis

Toledo Delphos &
Toledo & Illinois
Toledo

Burlington

Evansville & Indianapolis.
St. Louis Arkansas & Texas.
Toledo St. Louis & Kansas City.

Toledo St. Louis & Kansas City.

Wabash St. Louis & Pacific.

Logansport & Burlington—Chicago St. Louis & Pittsburg.

Toledo Pporia & Warsaw
Toledo & Wabash

Wabash & Western.

.Wabash St. Louis & Paciflo.

Union

Northern Central.

Union & Logansport
Union & Titusville
Utah Southern

Buffalo New York &
Utah Central.

Vermont & Canada
Vermont Central
Vernon Greensburg

& Rushville
Virginia Central
-.
Virginia & Tennessee.

Chic. St. Louis & Pittsburg.

Philadelphia

Consolidated Vermont.
Consolidated Vermont.

Cincinnati Indianap. St. L. & Ohio,
Chesapeake & Ohio.
Norfolk & Western.

Waco & Northwestern
Wallkill Valley

Houston & Texas Central.

West Chester & Philadelphia
West Wisconsin
Western Minnesota
Western Paciflo
Western Union Railroad
Wichita & Southwestern
Winona & St. Peter
Wisconsin Minneapolis & Paciflo
Wisconsin Valley

.Philadelphia & Baltimore Central

Lehigh & Hudson River.
Washington City Va. Mid. & Gt So..Virginia Midland.
Chic. St. Paul Miuneap. & Omaha
St. Paul & Northern Pacific.
Central Pacific.

Chicago Milwaukee & St. Paul.
Atchison Topeka & Santa Fe.
Chicago & Northwest.
Minneapolis & St. Louis.
Chicago Milwaukee & St. PauL

im
VX

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SnwitiOi-TmskM’io

Nos.

NEW
Albany, N. ¥.,

State
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Street, cor. James.
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J.# Olatm of Securities

Interest Allowed

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Providence, B. I.t

General

Bought and Sold

on

Philadelphia,

Exchange Street.

Banking Business. Commission, and Carried

on

Margins.

Daily Balances.
Deposits Received Subject to Sight Checks.

132 South Third

;.

Boston,
St.20 Congress St.,
63 Federal St., \:.
60 State St.

-

5 & 7

Direct Private Wires to each; Office, and to

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CITY.

on

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.

YORK

Saratoga, Grand Union Hotel.

Transact

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Broad Street

16 & 18

Also to Board

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Worcester, Mass.,
415

Main St.

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of Trade, Chicago, by loop.

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