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OF THE
C
ommercial
&F
inancial
T
hronicle.
[Entered according to act of Congress, in the year 1887, by Wm. B. Dana & Co., ia the office of the Librarian of Congress, Washington, D. C.]
VOL.
45.
NEW
YORK, NOVEMBER 26, 1887.
li»
IN V E S T O R S ’
SU PPLE M E N T.
TERM S:
The Supplement is published on the last Saturday of every other
month—viz., January, March, May, July, September and November;
and 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 I nvestors’ Supple
ment, is $10 20.
W I L L I A M JB. D A N A & CO., P u b lish ers,
102 William, Street, Mew York.
RAILROAD MAPS IN THE SUPPLEMENT.
The railroad maps now published in the S u p p l e m e n t
include the following roads.
r.
PAGE.
Alabama Great Southern. See Cincinnati N. 0. & T. P ....................... 40
Atchison Topeka & Santa Fe.............................. .........................16 and 17
Atlantic & Pacific. See Atchison Topeka & Santa Fe.......................... 16
Baltimore & Ohio........................................................................................ 19
Bufialo Rochester & Pittsburg...................................
22
Canadian Pacific......................................................................................... 24
California Southern. See Atchison Topeka & Santa F e....................... 16
Central RR. * Banking Co. of Georgia................................................. 26
Central RR. of New Jersey......................................................................:± 27
Central Pacific. See Southern Pacific............... .......... ...........................lOd
Charleston Cincinnati & Chicago......................................
29
Chesapeake & Ohio. See Newport News & Mississippi Valley............ 78
Chesapeake Ohio & Southwestern. See Newport News & Miss. V al.. 78
Chicago Milwaukee & St. Paul............................................................... 32
Chicago & Northwestern............................................ . ......................... ” 34
Chicago St. Paul Minn. & Omaha. See Chicago & Northwestern....... 34
Cincinnati Indianapolis St. Louis & Chicago......................................... 37
Cincinnati Jackson & Mackinaw........................................
39
Cincinnati New Orleans & Texas Pacific....................... .......... ............ 40
Cincinnati Washington & Balt. See Baltimore & Ohio.....................1. 19
Colorado Midland....................................................................................... 42
Delaware Lackawanna & Western........................
44
Denver & Rio Grande...........................
46
Detroit Bay City & A lp en a ..........................................................
48
Duluth South Shore & Atlantic........................................................"
49
Dubuque & Sioux City. See Illinois Central...............................
57
East Tennessee Virginia & Georgia.................................................. .. 54
Elizabeth. Lexington & Big Sandy. See Newport News & Miss.’ V a i . 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 F e ............. ................................................... 55
Houston & Texas Central. See Southern Pacific.............. 1111111*"II106
Illinois Central...............................................................................................57
International & Great Northern. Nee Missouri Pacific . . . . . . . . .. .. 73
Jacksonville Tampa & Key West.......................................
’
59
Kentucky Central. See Newport News & Miss. Valley’ " " " " " ’ *” * 78
Lake Erie & W estern...................................................
¿2
Louisville & Nishville.................................................................................. 65
Louisville New Albany & Chicago.............................................................. 67
Louisville New Orleans & Texas................................................................ 68
Memphis & Charleston. See East Tenn. Va. & Ga.......51
Milwaukee & Northern................................. .................................... " . 7 1
Missouri Kansas & Texas. Nee Missouri Pacific
73
Missouri Pacific................................................................
73
Mobile & Ohio......................................................
75
Nashville Chattanooga & St. Louis. See Louisville"* Naa’l i v n i e 65
Newport News & Miss. Valley...................................................
78
Norfolk & Western................................................................. *
81
Northern Pacific......................
83
Ohio * Northwestern......................
85
Ohio River............................................................
g7
Orange B e lt ................................................................................................88
Oregon Short Line. See Union P a c i f i c . . ......................112
Pennsylvania.....................................
.
.................. 90
Philadelphia & Erie. See Penn R R ..... .................................................. 90
Pittsburg Cleveland & Toledo. Nee B altim ore* Ohio’ * .......... * ." " 19
Pittsburg Cincinnati & St. Louis. See Penn. R R ___
" 9 0
Pittsburg Ft. Wayne & Chicago. See Penn. RR
.......................... 90
Pittsburg & Western.......................................................
.... . .... ^
Richmond & West Point Terminal............... . " " ..................................... 95
Rome Watertown * Ogdensburg...........
97
Shenandoah Valley. Nee N orfolk* W estern" .................................... 81
St. Louis & San Francisco.................................. .........*........................ 101
St. Louis Arkansas & Texas.........................
99
St. Paul Minneapolis & Manitoba............................................................ 102
Sheffield & Birmingham Coal Iron & Rail way Company..................... 104
Southern Paciflo...................................................
106
Toledo Ann Arbor & North M ic h ............ .............................................. 108
Toledo St. Louis & Kansas City.................................
no
Texas & Pacific. Nee Missouri Pacific............. ...............................
73
Union Pacific...........................................
112
V icksburg* Meridian. See d n n . New Orleans & TexäiTPacifle."I I " ! 40
Western New York & Pennsylvania................................
..
116
Wisconsin Central.................
ns
BONDS A T R E LA T1VEL Y L O W PRICES.
Now that stock speculation has revived on our Exchange,
and 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 terras, 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.
W e 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. W ith 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 I n v e s to r s ’
S u p p l e m e n t and the C h r o n ic l e .
The limits we have fixed are 110 in the case of 6 and
7 per cent bonds; par, or 100, in the case of five per cent
bonds, and 90 in the case of 4^ and 4 per cent bonds. A t
110 a 6 per cent bond yields (without regard to the loss of
premium at maturity) nearly
per cent on the invest
ment, and a 7 per cent bond over
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. A s showing the price com
manded by some of the best of 6 per cents, we may men.
tion that the Chicago Rock Island & Pacific 6s of 1917
stand at 131 bid; the New York Lackawanna & Western
1st 6s of 1921 are quoted at 126, and the Chicago St. Paul
Minneapolis & Omaha consol 6s of 1930 at 120. Am ong
7 per cents, the Chicago & Northwest, consols of 1915 bring
139; the Pittsburg Fort Wayne & Chicago lsts of 1912
141-|@143; the New York Central & Hudson lsts of 1903
135; the Morris & Essex lsts of 1914 at 139, and the Rens
selaer & Saratoga lsts of 1921 at 140@141.
As to taking 100 for the limit on five per cents, any.
1 thing below that figure of course indicates a yield above
2
INVESTORS’
SUPPLEMENT.
five per cent. A s compared with the number of six and
seven per cents of prime character and established merit,
five per cents of the. same class are relatively ftw. The
reason is obvious. Time is an essential element in estab
lishing merit, and it is only a few years since it h?s been
possible to r orrow at that rate, so that most of the five per
cents have only a short record, which in many cases mili
tates against their attaining a very high premium. More
over, hardly had it been demonstrated that the railroads
could negotiate loans at 5 per cent than the larger and
more prominent companies found that they could borrow
on even better terms, and hence many of the recent and
newer issues bear only 4-| and 4 per cent interest. Still, if
■a gauge is wanted as to the price a five per cent bond may
attain with most all the conditions in its favor, one has
only to look at the Chicago St. Louis & New Orleans
¡(Illinois Central Southern line) fives of 1951, which are
selling at 116, or the 4th mortgage bonds of ihe Erie
extended to 1920, which stand at about the same figure,
the Long Island 5s of 1931 stand at 112@113.
W ith reference to the 4 per cent and 4^- per cent bonds,
issues at those rates are confined to companies of excellent
credit or else to reorganized companies that have had to
reduce interest after reorganization. Ninety seems a fair
limit to take on these, for a four per cent bond at that
figured will yield 4-44 per cent, while allowance for the
discount to be made up at maturity of course greatly
increases the yield. Moreover, there are one or two giltedged fours that sell some twenty points above our arbi.
trary figure. Thus the New York New Haven & Hart*
ford 4s of 1903 command about 110 and the Illinois Cen
tral 4s of 1951 108@109.
Having made these explanations as to our purpose in
preparing a list of what, in the sense taken, we class as
low-priced bonds, it may be well to make some brief
remarks concerning one or two special issues about which
the public is not yet fully informed. There are the 4s of
the reorganized New Y ork Chicago & St. Louis, just
listed on our Exchange. W e published the company’s
application in full in the C h r o n ic l e of last Saturday, and
in this a number of interesting facts bearing on the
character of the bonds and the position of the company
are brought together. The total issue is $20,000,000, and
these constitute the first and only lien on the property.
Hence the annual charge is $800,000. The new company
did not come into possession of the property till the 1st of
October, 1887; but for the twelve months preceding, gross
earnings were $4,569,591 and net over taxes and rentals
.$1,035,236. The net have been made up after deducting
some considerable expenditures for betternfents, but even
•on that basis there is an excess of over $200,000 above
the requirements for interest on the new bonds. Consid
ering this fact, and also that the bonds are a first mort
gage on a trunk line between Buffalo and Chicago, their
position would seem a strong one. It is undeniable, how
ever, that the position of the old bonds at the time of
their issue appeared equally strong. Still there are some
important differences.
Then the road was in an unfin.
ished condition, and large annual payments were required
for equipment and car trusts. Now these latter no longer
•exist, and the property has been greatly improved. The
floating debt also has been extinguished, and the company
remains under the control of Lake Shore, which holds a
majority of the stock.
The Denver & Rio Grande is another company lately
reorganized which has 4 per cent bonds out. Here, how
ever, the bonds are not a positive first mortgage (there
being $6,382,500 of underlying bonds) and the selling
price is about 79. But the Denver & Rio Grande has a
[Vol. XLY.
large mileage, and its char-gs seem to have been brought
well within the limit of earnings. Before reorganization
the charges stood at $2,221,800 per annum; in 1886-7
they were only $1,349,775. In the calendar year 1884
net earnings (above expenses, bun not above taxes,)
were $1,793 573, in 18S5 they were $2,183,781 and
m 1S86 $2,510,660. In the current year to September
30 there has been a further increase of $648,971. Hence
the present net earnings would seem to amount to about
double the charges.
The Chesapeake & Ohio extended bonds are perhaps the
lowest priced- among interest-paying fours, and sell at
about 66. The company was recently p-.t in receiver’s
hands, but the coupons on these bonds were paid Novem
ber 1. The bonds are simply the old Chesapeake & Ohio
class “B” bonds, with interest reduced from 6 to 4 per
cent and the principal extended 100 years. As forming
the eastern end of Mr. Huntington’s combination of roads
between the Atlantic seaboard and the Mississippi Valley,
the position of the Chesapeake & Ohio is good; but the com
pany is hampered in having to make large annual payments
on account of principal and interest of car trusts, and by its
floating debt. W ith thess sources of embarrassment re
moved, doubtless the property would do much better.
There are fome other prominent 4 per cents which must
be judged by the same criterion, except in those cases
where a guarantee of another company constitutes the
main element of strength. Thus there are the Mexi
can Central bonds, the Atlantic & Pacifies, the Ken.
tucky Centrals and the Beech Creek firsts.
Among five per cent bonds selling below par there is quite
a variety to choose from, though some of them are bonds
of new companies which have not yet had time to establish
their position. There are the fives of the East Tennessee
Company, the funded coupon bonds of the Erie and the
second mortgage bonds of the Canada Southern.
The
latter two attract attention because of the improved position
of tiunk line properties. The condition of the East
Tennessee can be ascertained from the report for the
fiscal year ended June 30, published in the C h r o n ic l e of
last Saturday.
When we come to the six per cents below 110 the
variety is even greater. W e have not the space to
enumerate any great number of them, but some of the
Louisville & Nashville bonds perhaps will attract atten.
tion— the collateral trusts and ten-forties for instance,
which in addition to mortgages on the property are secured
by the distinct pledge of specified stocks and bonds in
which the Louisville & Nashville is interested. Among
the securities pledged for the collateral trusts is a majority
of the stock of the Nashville Chattanooga & St. Louis— a
road which is doing remarkably well just at the moment.
Usually, however, it is very difficult to estimate the value
of such collateral. The prior bonds of the Texas & Pacific
(namely the 1st mortgage on the Eastern Division) may also
deserve notice. The company is about to be reorganized
on a basis which it is supposed will make certain the pay
ment of interest on 25 millions of what are called
class “ A ” bonds. The old Galveston Harrisburg & San
Antonio lsts and 2ds, occupying a somewhat analogous
position, also come within our limit.
Below will be found the list, complete so far as recent
prices could be obtained, and it will be noticed that the
line has not been strictly drawn, some bonds being
included whose prices are a trifle above the limit fixed.
There is nothing particularly abstruse or complicated about
this grouping of bonds, but on the contrary it is a mere
bringing together of the relatively low-priced bonds for
the observation of investors.
N ovem ber,
INVESTORS’
1887.]
6 AND 7 PER CENT BONDS AT OR BELOW 110
Note .—Bonds are all 6s, except those marked 7s.
D escription
of
B ond.
Brooklyn Elevated, let, g ....................... - ....... 1924.
Burlington Cedar Rapide & N orthernCedar Rapids Iowa Falls & N., 1st, g ........... 1920.
Central Pacific, mortgage of 1886, g................ 1936
Chesapeake & Ohio, senes “ A,” g ..................... 1908.
....
. . . . . . .iy iiMortffäffc»g ........................
Chesapeake Ohio & Sothwest, 1st, g . ..........1 9 1 1
Chicago & Alton—Missouri River Bndge, 1st. 1912.
Cleveland Columbus Cin. & Ind., gen., g ......... 1934.
Colorado Coal & Iron, 1st, cons., g ................... 1900
Columbia & Greenville, 1st, g ..... .................... 1916
Columbus Hocking Valley & Toledo, gen., g. ,1904.
Denver South Park & Pacific., 1st, 7s, g ..........1905.
Detroit Bay City & Alpena, 1st, g . . . . . . ........... 1913.
Elizabethtown Lexington & Big Sandy, g — 1902
Evansville & Indianapolis, cons. 1st., g .......... 1926
Evansville & Terre Haute—Mt. Vernon, 1st, g.1923.
Fort Worth & Denver City, 1st, g .................... 1921.
Galveston Harrisburg & San Antonio, 1st, g ..l9 1 0 .
2d (7s), g ....................... ....................................
Green Bay Winona & St. Paul, 1st................... 1911.
Gulf Colorado & Santa Fe, 2d, g ..................... 1923.
Henderson Bridge, 1st, g —
-|93JIndiana Bloomington & West., 1st pref. (7s).. 1900
Indianapolis Decatur & Spring., 1st (7s), g — 1906
Int. & Great Northern, 1st, g ............................ 1919
2d coup., g .................................. - .................... 1909.
Knoxville & Ohio, 1st, g ................................... i9 2 o.
Louisville & Nashville—Cec. Br. (7s)...............1907.
New Orleans & Mobile, 1st, g ..., — ............1930.
New Orleans & Mobile, 2d............................. 1930.
Pensacola Division, g ........ —........................ 1920
So. & No. Ala., sinking fu n d .........................1910
Collateral trust bonds, g ................................. 1922
Pensacola & Atlantic, 1st, g ..................-....... 1921
Louisville New Albany & Chicago, consol., g.,1916.
Manhattan Beach Improvement Co. (7s)........ 1909.
Memphis & Charleston, g e n .,g ......................... 1924
Metropolitan Elevated, 2 d ......... ....................1699
Milwaukee & North.—Extension, 1 s t..........1 9 1 3
Minneapolis & St. Louis—Iowa Ex., 1st (7s), g.1909
2d mortgage (7s).
....... - .......................... 1»90
Improvement and equipment— ...............- 1922
Missouri Kansas & Texas, consol. (7s), g. ...1904-6.
General, g ....................-— ............................ 1920.
Missouri Pacific, 1st, cons., g ............................ 1920.
Mobile & Ohio, 1st., extern, g . . . . ..................... 1927
Morgan’s Louisiana & Texas, 1st, g ..................1920
Mutual Union Telegraph, sinking fund, g .......1911
Nashville Chattanooga & St. Louis, 2d........... 1901
New Orleans & Gulf, 1st, g .............. .................1926.
New York Lake E. & W., reorg., 1st lien, g ....l9 0 8 ,
2d consols, ........................................................ 1969
Collateral trust, g .............................................1922
Buffalo & Southwestern, g ............
1908
New York & Manhattan Beach, 1st (7s).......... 1897
New York Ontario & Western, 1st., g ...............1914
Norfolk & Western, imp. and extern, g ........... 1934
AdjustmentPf7si, g ............................................1924
Northern Pacific, 2d mortgage, g ......................1933
Dividend scrip, extended.................................1907
James River Valley, 1st, g .............................1936
Spokane & Palouse, 1st, g ...............................1936
Helena & Red Mount., 1st, g........................... 1937
Duluth & Manitoba, 1st, g .............................. 1936
Helena B. Val. & Butte, 1st, g .......................1937
Northern Pacific Terminal, 1st, g ....................1 9 3 3
Ohio Southern, 1st, g...........................................1921
Oregon Improvement, 1st, g ..............................1910
Oregon Railway & Navigation, 1st, g ............... 1909
Oregon & Trans-Continental, g ...........................1922
Peoria Dec. & Evansv.—Evansv. Div., 1st— 1920
Peoria & Pekin Union, 1st, g .................
1921
Pittsburg Cleveland & Toledo, 1st, g ............... 1922
Richmond & West Point Terminal, trust, g — 1897
San Antonio & Aransas Pass, 1st, g ..................1916
1st, g
............................................................1926
St. Joseph & Grand Island, 1st, g ......................1925
St. Louis Alton & Terre Haute, 2d pref. (7s). .1894
2d, incomes (7 s )..............................................1894
3
SUPPLEMENT.
D escription
of
B ond.
Interest Pri’eN’v.21
Period. Bid. Ask.
.1936. M. & N. 97% 98
.1892 F. & A. 109
.1897. M. & N. 109
.1895. J. & D. 109
.1916 J. & J.
106
1910. A. & O.
108
A. & 0. ........ 106
1916. M. & S. 98
.1898. M. & N.
no
A. & O. ........ 110
.1920. A. & O.
97%
A. & O. ........ 103
.1931.
J.
&
J.
60
70
2d
.......
........
98
A. & O.
1911.
J.
&
J.
108
A. & O. ........ 90
.1902. F. & A. _- •: y 100
F. & A. 1 0 3 % ........
.1917. J. & J. 80
Birmingham Div., 1st, cons., g
85
A. & O. 105 ........
.1912. M. & S. 100
J. & J. 105 ........
Texas & Pacific, 1st, E. D., g. . ........................ .1905. M. & S. 107
F. & A. 99 100
.1924. M. & N. 89
90
J. & J. ........ 104
.1921. J. & J. 100 102
J. & D. ........ 75
.1916.
J.
&
D.
94%
M. & N. 77 ........
.1908. J. <fc J. 106
J. & J. 108 110
.1919. M. & N. 100%
M. & S. ........ 97
.1895. M. & N. 104%
J. & J. 1 0 3 % ........
.1905.
Q —F. 104
A. & O. 101 ........
.1905 Q .-F . 100 102%
83%
J. & D. 83
.1922.
F.
& A. 99 100%
F. & A. ........ 110
.1909. J. & J. 93
J. & D. ........ 110
.1909.
J.
& J. 91
94
F. & A. 99% 104%
.1921 M. & S.
104%
A. & O. 96% 97
.1908
A.
&
O.
100
M. & S. 108% 109
J. & J. 110 ........
5 PER CENT BONDS AT OR BELOW 100.
A. & O. 101 103
M. & N. 108 110
80
M. & S. 79
Pri’eN’v.21
92
J. & J. 91
Interest
D escription of B ond.
M. & S. 105 106
Period. Bid. Ask.
J. & J. 110 ........
98
J. & J. 96
Boston Hoosac Tunnel & Western, deb..........1913. M. & S.
98
M. & S. 103 ........ Burlington Cedar Rapids & No., col. trust, g ..l9 3 4 . A. & O.
97%
A. & O. 105 ........
Cedar Rapids Iowa Falls & Northern, g .......1921. A. & O.
97^2
Q .-M . 108% 109
Canada Southern, 2 d ................... - . .............1913 M. & S. 92
928g
F. & A. 92 ........ Central RR. & Bank of Georgia, collat., g ...... 1937 M. & N. QQ
A. & O. 91% 92
Chicago & Indiana Coal, 1 s t .............................1936. J. & J. 98% 99
M. & S. ........ 87
Chicago Milwaukee & St. Paul, H. & D .......... 1910. J. & J. 96 . . . .
J. & J. 102 103%
Chicago & Missouri River D iv.......................1926. J. & J.
99
M. & N. ........ 107% Chicago St. Louis & Pittsburg, 1st, cons., g.,.1 9 32 . A. & O. 98
J. & D. 106% 107
J.
&
D.
95
Cincinnati Jackson & Mackinaw, 1st, cons., g 1936
J. & D. ........ 109
Columbus Hocking Valley & ToL, cons., g.......1931 M. & S. ....... 74
J. & J. ........ 100
East Tennessee Virginia & Ga., 1st, cons., g . . .1956. M. & N. 96% 96%
J. & J. ........ 85% Galveston Har. & San An— West. Div., 1st, g.1931. M. & N. ....... 93*3
F & A. 108 108% Grand Rapids & Indiana, gen ......................... 1924 M. & S. .......100
82%
J. & D. 81
& Nashville, mort., br., g ................ 1937. M. & N. 99% 101
M. & N. 108 110% Louisville
98
Milwaukee Lake Shore & West., conv. deb., g.1907. F. & A. 94
Q .-J . ........ 107
& J. .......100
Minnesota
& Northwestern, 1st, g ................... 1934
J. & J. 1 0 6 % ........ Missouri Kansas & Texas, gen., g ...................1920
& D. 70% 72
M. & N. 84% 85
& D. 8 9 % ........
New York Lake Erie & Western, fund. coup.. 1969.
J. & J. 106 107% New York Susquehanna & West.,refunding, g.1937.
& J. ....... 92
M. & N. 99 105
& D. 8 7 % ........
Ohio
&
Mississippi,
gen.
m
o
r
t
..........................
1932
M. & N. 102 107
& D, 98% 99%
OregonRailway & Navigation, consol., g ...... 1925.
J. & D. 101 ........ Peoria Decatur & Evansville, 2d mort., g .......1927. M. & N. 72
74
M. & N. 103 104% St. Louis & Iron Mountain, gen., g ................... 1931. A. & O, 91% 92%
J. & J. 90 ........ Toledo & Ohio Central, 1st, g .............................1935. J. & J, 94% 95%
J. & J. . . . . . . 110
Union Pacific, col. trust, g .................................1907. J. & D. 95 .........
M. & S. 108 ........ Virginia
81
gen. mort..............................1936 M. & N, 79
F. & A. 96 ........ WheelingMidland,
& Lake Erie, 1st, g .............. ............. 1926 A. & O. 9 7 % ........
Q.—M. 101% 104
A. & O. 98% 99
4 AND 4% PER CENT BONDS AT OR BELOW 90.
J. & J. 101 ........
J. & J. ........ 110
Note .—Bonds are all 4s, except where marked 4%s.
M. & N. ........ 104%
M. & S. 103 ........
Pri’eN’v.21
J. & J. 1 0 3 % ........
Interest
D escription of B ond.
M. & N. 1 0 1 % ........
Period. Bid. Ask.
J. & J. 102 102%
J. & D. 105 107
J. & D. 9 6 % ........ Atlantic & Pacific, 1st, g ....................................1937. J. & J. 82% 83%
J. & J. 110% 110% Beech Creek, 1st, g ............ .............................. 1936. J. & J. 80 .........
67
Chesapeake & Ohio, extended, g ....................... 1986. M. & N. 65
M. & N. 93% 94
78% 79
Denver & Rio Grande, 1st, cons., g .................. 1936.
M. & S. ........ 106
....... 87%
Q .-F . 110 ........ Des Moines & Fort Dodge, 1st.......................... 1905.
72
74
A. & O. 1 0 7 % ........ Kentucky Central, new mort., g ....................... 1987.
70
71
88% Mexican Central, mort. assented, g ..................1911.
F. & A. 86
....... 74
Mobile & Ohio—St. Louis & Cairo, quar., g ... 1931
J. & J. ........ 92
ufe O. 86% 86%
New York Chioago & St. Louis, 1st, g .............. 1937.
J. & J. ........ 92
& A. ....... 79
98% New York Susquehanna & West., 2d (4%s), g..l937.
M. & N. 98
& J. 77% 78%
F. & A. ........ 109% Omaha & St. Louis, 1st, g . ............................... 1937.
75
Peoria & Pekin Union, 2d (4%s), g . . . ...............1921. M. & N. 70
M. & N. 102 103
Pri’e N’v.21
lliUil ÜÖu
Period. Bid. Ask.
2d (7s), ¡
St. Louis <!
N O TE S.
The*« tables are expressly intended to be used in connection with the information concerning investment matters published from week to
w eekin the Chronicle—to which an index is furnished in the remarks on each page. Annual reports are in black-faced figures.
The following will give explanations of each of the columns of the tables below:
.
.
. , „
T)psrrintion -Railroads leased are sometimes given under the lessee’s name. Abbreviations used a re: M. for “ mortgage;” s. f. for “ sinking fund;
Lgr. for “ land grant;” r. for “ registered?’ e. for “ coupon;” c.* for “ coupon but may be registered;” o. & r. forT‘ coupon and registered; br.
for “ branch;” guar, for “ guaranteed;” en t. for “ endorsed.”
Date o f Bonds.—The date of issue is referred to in this column.
.
.
_ . ..
,
Miles o f Road.—Opposite stocks, this means the miles of road operated; opposite bonds, the miles covered by the mortgage.
Rise or Par Fotoe.—These figures are dollars, showing the denominations or par value. The figures “ 100,
signify $100 and larger.
Hate Pet* Cent - The interest per annum is given for bonds, but the per cent of last dividend for stocks; g ineans gold; x, extra; s. stock or scrip.
When Payable.—J. & J. stands for Jan. & July; P. & A., Feb. & Aug.; M!. & 8., March & Sept.; A. & 0 ., April <te Oct.; M. & N., May & Nov.; J. & D.,
June & Dec • Q —J quarterly from January; Q.—F., quarterly from Feb.; Q.—M., quarterly from Maroh.
Bonds, principal wkm d u e; Stocks, last dividend.-The date ia this column shows the period when the principal falls due of bonds, but the time
when the last dividend was paid on stocks. ____________ _________________ j______________
UNITED
DESCRIPTION.
STATES
or
Amount
Author Size
par
outstanding.
izing Act. value.
Nov. 1, ’87.
BONDS.
INTEREST.
Rate.
4s o f 1907, coup, and reg., incl. refund, certfs. 1870 & ’71 $50&c. $732,447,550 4, coin.
50&C. 230,544,600 1*2, coin.
1870 & ’71
50&c.
14,000,000 3, coin,
July 1868
3 per cents, Navy Pension fund..................—
64,623,512
6
Currency 6s, reg., $2,362,000 due Jan., 1895 . J’y ’62&’64 1000&C.
ah thA OnvAmment bonds excent the currency sixes are redeemable
i n ^ S l ^ I ^ ^ i n not f f i s ^ i f l ^ THe fours and four and a
h k ^ are issued in bonds of $50, $100, $500 and $1,000, both coupon
M d r ^ t e w d issues, and the registered bonds also in pieces of $5,000,
»10.000. $20,000 and $50,000. The United States currency sixes are all
registered, issued in pieces of $1,000, $5,000 and $10,000, are payable
STATE
When
pay’ble
Where payable and by
whom.
Q —J. U. S. Treasury & Sub Treas.
do
do
Q —M.
do
do
J. & J.
U. S. Treasury.
J. & J.
Principal—When
due.
July 1,1907
Sept. 1,1891
1895-6-7-8-9
1in “ lawful money,” and mature as follows: $3,0O2,uuu m i » » d ,
$8,000,000 in 1896, $9,712,000 in 1897, $29,904,952 in 1898 and
I $14,004,560 in 1899. The interest on registered bonds is maaled by
check directly to the holders or to any address requested by the registeied holders,
|
SECURITIES.
Subscribers w ill confer a great favor by givin g im m ediate notice of any error discovered in tbese Tables.
DESCRIPTION.
Date of
Bonds.
Size or
Amount
par
Outstanding
Value.
Rate.
INTEREST.
Where Payable and by
When
Whom.
Payable
Principal—When
Due.
July 1,1906
4
J. & J. N. Y., Am. Exch. Nat.Bk.
$100&c. $6,747*,900
1876
Alabama—Substitution bonds (A) ($7,000,000).
July 1,1906
do
do
J. & J.
100 &o.
539,000
5
1876
Bubstitut’n b ’dsfor RR. (B) ($ 5 9 6 ,0 0 0 )........
July 1,1906
do
do
J.
&
J.
4
100
&c.
953,000
1876
do
for Ala. & Chatt. (C) ($1,000,000)
Jan. 1, 1900
_
Montgomery.
6
J. & J.
954,000
1880
Funding “ obligat’ns” (tax-rec’bie 10-20 yrs.).
1899
J.
&
J.
1,000
1.255.000
6
1869
to
’70
Arkansas—Funding bonds of 1869 and 1870..
1900
1,000
1,268,000
6
1870
Funding Bonds 1870 (Holford)..........................
1900
J.
&
J.
100
&o.
1,986,773
7
*
1871
Levee bonds (or warrants).................................
1860
J. & J.
2,575,063
6
Old debt, including interest to 1884................ 1838 to ’39 1,000
7
1899
1
ftfiQ
1
000
1,200
O
O
O
A.
&
O.
To Memphis & Little Rock Railroad................
1900
A. & O.
iiö ö ö
i ;oöö;ööö
7
1870
To Little Rock & Fort Smith Railroad............
1900
A. & O.
1,000
1,200,000
7
1870
To Little Rock, Pine Bluffs & N. Orleans R R ..
1900
A. & O.
1,000
600,000
7
1870
To Miss., Ouachita & Red River Railroad.......
April,
1900
A.
&
O.
1,000
1,350,000
7
1870
To Arkansas Central Railroad..........................
1893-94
Sacramento, Treasury.
50Ò &o.
2,698,000
1873
6 g. J. & J.
California—Funded debt bonds of 1873
M
a
y
l,
1897
Hartford,
Treasury.
M.
&
N.
5
1,000
1,030,000
1877
Connecticut—Bonds. 10-20 y e a r .......... 1
Jan., 1903
do
do
1,000
500,000
1883
3*2 J. & J.
New bonds (sink, id.) not taxable— 5
Jan.
1,1903
do
do
1,000,000
1,000
1884
3*2 J. & J.
New bonds, reg.
do
do
Oct. 1,1910
do
do
A. & O.
1,000
3
1,740,000
1885
New bonds, coup, or reg.........-.........................
May 1,1897
do
do
1,000
1,000,000
1887
3*2 M. & N.
Bonds registered, (redeem at will)............. .. J
1891,1901
Phila.,
Phila.
Nat.
Bank.
J.
&
J.
4
1,000
625,000
1881
Delaware.—Refund’g bds., ser. “ A,” “ B” & “ C
June 1,1905
do
do
J. & D.
4
120,000
1885
Bonds, redeemable after June 1 ,1895..........
Jan.
1, 1901
156,750
6
School b o n d s.......... ................. - ....... ................
July 1, 1891
3,166,900
500 &c.
1872
6 g. J. & J. Wash, or N. Y., U. S. Treas.
Cist.of Columbia-Perm’t imp’t,g old ,cou p ...
July
1,
1891
do
do
J.
&
J.
616,200
7
100
&c.
1873
Permanent improvement bonds, coupon.......
July 1, 1899
do
do
J. & J.
943,400
5
100 &c.
1879
Bds for fund’g (Act June 10, ’79) coup, or reg.
Aug.
1,
1924
do
do
F.
&
A.
14,033,600
3-65
50
&c.
1874
Fund, b’ds (U.S.guar.,Acts June,’74&Feb.,’75)
July 26,1892
do •
do
J. & J.
7
50 &o.
145,050
1872
Market stock, registered and coupon.............
Oct.
1,1901
& ’03
do
do
J.
&
J.
375,000
7
Water stock bonds, coupon............................... 1871 t o ’73 1,000
1892 & 1902
do
do
1,600,800
100 &c.
1872
6 g. J. & J.
Wash, fund’g, gld,($618,100 are M.&N.,1902)
Jan.
1,
1901
N.
Y.,Park
Bk.&
Tallahassee
Jan.
280,100
7
100
1871
Florida^-State bonds................................... - —
Jan. 1,1903
do
do
787,300
100 &c.
1873
6 g. J. & J.
Gold bonds...................................... .
1,000
2,098,000
1870
7 g. Q .-J . N. Y., Fourth National Bk. Oct. 1, 1890
Georgia—Quar. g. bds., act of Sept. 1 5 ,1 8 7 0 ...
May 1,1892
do
do
J. & J.
307,500
7
1872
500 &c.
Bonds, act of Jan. 18, ’7 2 ........................--—
July 1, 1896
do
do
J. & J.
542,000
7
1,000
1876
Bonds to fund coupons on endorsed bonds...
Jan. 1, 1889
do
do
J. & J.
6
2,141,000
1,000
1877
Bonds exchanged for endorsed RR. bonds...
July 1, 1915
New
York
&
Atlanta.
3,392,000
1,000
Funding bonds, coup. Act Dec. 2 3 ,’ 84........ .
1885
4*2 J. & J.
1932-33-34-35.
do
do
Various
254,000
7
1882 & ’83
April
1,.’92 & ’95
_
N. Y., Winslow, L. & Co.
2,025,000 3 & 3*2
1885
Indiana-^Temporary loan.........................
do
do
Various
3,904,783
6
1867 to ’73
School fund bonds (non-negotiable)........
1887
to ’95
J. & J. N. Y., First Nat. Bank.
824,500
7
Kansas—B’dsforStatepurp.l $574,500 held C 1864t o ’75 100 &0.
1887 to ’99
do
do
J. & J.
206,000
7
Military loan..................... > in State f’ds— l 1866 t o ’69
1905
New York City.
J. & D.
4
1884
500,000
1,000
Kentucky—Bonds, gold................................
1896
Frankfort, Ky.
J. & J
174,000
6
1866
l.ooo
Military bonds...........................................
$300,000,
redeemable
July,
1886
to
1891;
series
“
C,”
$165,000.
redeem
A la b a m a .—The “ A ” bonds bear 5 per cent after 1896. Alabama
& Chattanooga endorsed bonds were exchanged for $1,000,000 of able July, 1891 to 1901. In addition to above, $83,000 is due Delaware
College.
There
is
no
State
tax
levied,
nor
assessments
made.
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
D istrict o f C olu m b ia .—The interest and sinking fund on the 3-65
debt and funding of 1876 was given in the Chronicle, V. 24, p. 28. bonus are provided for by Congress, and the amount is limited to
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt. $15,000,000. Real and personal estate, &c.. assessed as follow s: 1884,
RR. under act of Feb. 11, 1870, the State gave the lien on the lands real estate, $90,496,331; personal, $10,987,443; tax rate, $15 per $1,000,
ranted to that railroad, 500,000 to 1,200,000 acres. The 10-40’s of 1880, 1885, real estate, $93,491,891; personal, $12,715,686; tax rate, $15;
ue in 1900, may be called at par after 1890. The assessed valuation of 1886, real estate, $96,054,301; personal, $12,532,997; tax rate, $15.
real estate and personalty was $152,920,115 in 1881-82, $158,518,157
F lo rid a .—The sinking funds hold $218,800 of above bonds, and the
inl883-84 and $172,528,933 in 1885-86; tax rate $6 per $1,000.
school, &c., funds held $625,500 more, leaving outstanding $430,700.
A rk a n sa s.—1
The State Supreme Court decided Levee bonds of 1869 Coupons of all bonds are receivable for taxes. Real and personal property
and 1870 Invalid; nor are the Holford or the Railroad Aid bonds recog assessed in 1883, $55,008,560, tax rate $4 per $1,000; in 1884, $60,042nized by the State. The State is in default for interest. In Jan., 1883, 655; tax rate $4. Assessment in 1836, $76,611,409; tax rate, $4.
a decision was made by the U. S. Circuit Court, substantially holding
G eorgia.—The constitutional amendment in 1877 declared void
the railroad companies responsible for the State bonds issued to them,
but thin was reversed and the case appealed to U. S. Supreme Court. several issues of bonds and railroad endorsements. The 4*2 p.o. bonds,
of
1885 were sold to take up other bonds maturing in 1385 and 1886.
The following are official assessments and tax rate per $1,000:
Real Estate.
Personal. Tax Rate. Tax rate, 3*2 mills. Assessed valuations have been:
Railroads.
Years.
Real Estate.
Personalty.
1884
$81,649,415
$50,403,842
$7
$22,183,901
$120,432,609
1884 ...................... $174,452,761
1885........................................ ' 82,273,095
52,133,530
4
23,000,294
1885!........................
179,946,059
119,200,739
1886 (one county missing).. 85,531,485
53,775,852
5
1886 (tot.valuat’ns) --------------------— $329,489,505—
—(V. 44, p. 421.)
C aliforn ia.—The State holds in trust for School and University funds
In d ia n a .—There are also outstanding $340,000 5 per cent bonds
$2,364,000 bonds of 1873, leaving only $334,000 in private hands. due 1901, held by Purdue University; $60,000 State University bonds
Assessed valuations and rate of tax per $1,000 have been:
held bv Treasurer, and about $1.8,000 miscellaneous issues of bonds.
Years.
Real Estate.
Personal. Tax Rate. Valuation in 1885, $793,526,079, Valuation in 1886, $794,696,597.
1884
$654,990,072
$166,614,631
$4-52 Total debt Oct. 31,1886, was $6,006,608.
1885................................... 688,311,102
171,201,282
5-44
K a n sa s.-Kansas has but a small State debt, buttheissueof municipal
1886
684,509,568
151,937,132
5-60
1 8 8 7 .................................... 789,980,601
165,475,238
6-08 bonds was about $19,397,851 Jan. I, 1887. Population in 1884, 1,135,614; in 1887, 1,500,000. The valuations (about one-half of true value)
C on necticut.—The debt of Connecticut was all created originally for have been:
■
_
, ,
war purposes. Assessed valuation and tax rate per $1,000 have been :
Real & PerRate of Tax
Total
Years.
Real Est. & Personal.
Tax Rate. Years.
sonai Property,
per $1,000.
Debt.
1884.........................................
$349,977,339
$1-25 1885 .................- ....................... $247,371,645
$ ........
$ .......
1885..........................................
349,177,597
2 0 0 1886 ........................................... 277,113,323
4 10
830,»00
1886.........................................
349,725,773
1-25 1887 ....................... .................. 310,596,686
.........
.........
The assessed valuation of real estate is about 70 per cent of the true value.
K e n tu c k y .—Against the bonds as above the sinking fund held
—(VoL 44, p. 808.)
$711,150,
Sept.,
’87.
Valuation
in
1884,
$377,888,542;
in
1885.
personal,
D ela w a re.—These ¡refunding bonds issued July, 1881, take up out
standing debt. Series “ A” are $160,000, redeemable 1886; series “ B,” $96,838,919; real estate, $293,989,044; total valuation, $390,827,963,
f
N ovem ber,
1887.1
5
STATE SECURITIES.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Date of
Bonds.
For explanation see notes on fire'- i-».ge of tables.
Louisiana—Relief of State Treasury and miscel.
Bonds in aid of various railroads............ -—
Bonds to Boeuf A Crocodile Navigation C o...
do to Mississippi A Mexican Gulf Canal..
do school, held by St. Treasurer...............
do to N. Orleans, Mobile A Chatt. RR.......
do to N. Orleans, Mobile & Texas R R ........
N. O. Mob. A Texas RR. bonds, end. by State
Consolidated funded bonds(stamped 4 per ct.)
"B aby” bonds, threes............... .........................
Maine—Bounty loan bonds.................. t Coup.
Municipal war debt assumed............S or reg.
Maryland—Baltimore & Ohio Railroad, sterling
Chesapeake A Ohio Canal, sterling............
Railroads and canals...................................
Eastern Shore Railroad...............................
Baltimore A Susquehanna Railroad..........
Baltimore & Susquehanna Railroad..........
Annapolis A Elkridge Railroad..................
Defense redemption loan.............................
Deaf and Dumb Asylum Loan...................
Treasury relief loan, 10-15 years...............
Exchange loan of 1886 ...............................
Massachusetts—Bounty Fund Loan..............
do
do sterling.......................
War Loan, sterling...........................—
Troy A Greenfield Railroad loan, sterling,
do
do
home .
do
do
sterling
do
do
sterling
do
do
dollar bonds
do
do
do
do
do
do
Southern Vermont Railroad Loan........
Boston, Hartford & Erie Railroad, sterling...
Harbor Land Improvement (5-20s)..................
Danvers Lunatic Hospital.................................
Lunatic Hospital, W o rc e s te r.................
New State Prisons, sterling...............................
Michigan—War Bounty Bonds......... — ------Minnesola—Adjustment bonds, (10-S0, red. ’92)
Missouri—Consolidated b on d s.............................
University and Lunatic Asylum bonds............
Penitentiary indemnity......................................
State Bank stock refunding...............................
Bonds to North Missouri Railroad.................. .
Bonds to Cairo & Fulton R a ilroa d .................
Bonds to Platte Countv Railroad.....................
Bonds to Iron Mountain Railroad........ ...........
Pacific Railroad of Missouri..........................
Funding bonds.....................................................
do
5-20 years....................................
Hannibal A St. Joseph Railroad, renewal.......
Nebraska—Bonds (act Feb. 14,1877) coupon...
Mew Hampshire—War loan, coupon bonds........
Municipal war loan..........................................
Loan of 1879 for refunding...............................
Prison loan................................... - ............—
Hew Jersey—War loan bonds, tax free.................
do
do
taxable............... .................
New York— (
'
■
Canal debt, { Under Art. 7, Sec 3, of Conreg. stock, (.stitution.
Niagara Park Loan bonds..............................
1853
'Ì87Ò
1869
1857
1870
1871
1869
1874
1880
1864
1S68
1838
1838
1838-47
1839
1837
1839
1839
1882
1870 & ’74
1878
1886
1864
1864
1869
1858 t o ’61
1861 t o ’63
1871
1875
1873 t o ’74
1875
1877
1860
1868 t o ’69
1874 & ’76
1874 & ’77
1875-’76
1875
1865
1881
1868
1872
1874
1854 to ’58
1857 t o ’59
1859 t o ’60
1854 t o ’59
1853 t o ’59
1874
1886
1874
1877
1864
1872
1879
1879
1863
1864
1875
1873
1874
1885
Amount
Size or
outstanding.
par
Value.
$500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac
500 Ac
100 Ac
500 Ac
£100 Ac
£200
£200 &c
500 &c
200 Ac,
£500
1,000
1,000
10,000
5.000
£200
1.000
1,000
1,000
£500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac
1,000
1,000
100 Ac
100 Ac
100 Ac
100 Ac
100 Ac,
1,000
$40,100
175.000
80,000
260.000
48.000
70.000
2.500.000
875.000
11,966,450
1.437.000
2.330.000
2.827.000
1,784,444
2,263,333
309,485
31,069
269.000
298,435
62,605
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
617,000
449,267
150,000
56,000
802,900
Rate.
D
S
INTEREST.
Where payable and by
When
whom.
Payable
6
6
8
7-30
6
8
8
8
7(4)
2, 4 ,3
6
6
5 g5 g.
5
5
3
6
6
3-65
6
6
3
5 g.
5 g.
5 g.
5 g.
5 g.
5 g5 g5 g5 g.
5 g.
5 g5 g.
5 g5 g.
5 g5 g.
7
4^2
6
6
6
6
6
6
6
6
6
6
3^
6
8
6
6
5
5
6
6
6 g.
6 g.
6 g.
2%
July, 1893
$12,000
f
J. & J.
1872 to 1906
108,000
Various
Jan. 1, 1890
80.000 Amounts not
J. & J.
1899
260.000 I fundable,
M. & S.
1897
48.000 per report of
Various
July 1,1910
70.000 Jan. 1,1887.
J. & J.
April, 1911
A. & O. 2,500,000
875.000 .
J a n " 1914
Winslow, Lanier & Co
J. A J. N.Y.,
Î
1887 and 1914
New Orleans.
J. & J.
June 1,1889
Boston, Suffolk Bank.
J. A D.
Oct. 1,1889
Augusta and Boston.
A. & O.
Jan. 1, 1889
London, Baring Bros,
J. & J.
Jan.
1, 1889
do
do
J. & J.
1890
Q.—J. Balt., Farm. A Merck. Bk.
April 1,1890
do
do
A. & O.
1890
do
do
Quart’y
Jan. 1,1890
do
do
Q.—J.
April 1,1890
do
do
A. & 0.
Jan. 1, 1899
do
do
J. A J.
Jan. 1,1889
do
do
J. & J.
Jan. 1,1893
do
do
J. A J.
1920
do
do
J. & JMay 1, 1894
Boston, Treasury.
M. AN.
May
1, 1894
London,
Baring
Bros,
M. AN.
July 1, 1889
do
do
J. A J.
Apl.7l888
to ’90
do
do
A. A O
April, 1891 to ’94
Boston, Treasury.
Various
July,
1891
London,
Baring
Bros,
J. A J.
Jan. 1, 1895
do
do
J. A J.
1894
Boston, Treasury
J. A J.
July 1, 1895
do
do
J. A J.
Sept.
1,1897
do
do
M. A S.
April 1,1890
do
do
A. A O.
Jan.
1,1900
London, Baring Bros.
J. A J.
Sept. 1,1896
Boston, Treasury.
J. A J.
J’y l,’94-Sepl,’97
Boston, Treasury,
Various
M’y l ’95-Sep 1,’96
do
do
Various
Jan. 1, 1895
J. A J. London, Baring Bros. A Co
May 1,1890
M. A N. N. Y., Am. Exchange Bank,
1911
J. A J. N. Y. City, First Nat. Bk.
Jan. 1,1888
N.
Y.,
Bank
of
Commerce.
J. A J.
July 1, 1892
do
do
J. A J.
April 1,1895
do
do
J. A J.
April 1,1894
do
do
J. A J.
1887 t o ’88
do
do
J. A J.
1887 and ’89
do
do
J. A J.
1889 to ’90
do
do
J. A J.
1887 to ’89
do
do
J. A J.
1887
and ’89
do
do
J. A J.
July, 1894 & *95
do
do
J. A J.
Jan.
1,1911
do
do
J. A J.
1894-0-6
do
do
J. A J.
April 1,1897
,Y., Kountze Bros.
A. A O.
Sept. 1, 1889
Concord or Boston,
M. A 8.
Jan., ’92 to 1905
do
do
J. A J.
J. A J. Bost. ,Nat.Bk. Commonw’lth July 1 , 1889-’92
Jan., 1888 t o '91
do
do
J. A J.
Jan., 1888 to ’96
J. A J. Jersey City and Trenton,
Jan., ’97 to 1902
do
do
J. A J.
Oct., 1893
N.
Y.,
Manhattan
Co.
Bank,
A. A O.
July 1, 1891
do
do
J. A J.
Oct.
1, 1892
do
do
A. A O.
$100,000 yearly
J. A J.
Principal—When
due.
In 1886, personal. $95,654,572; real estate, $293,204,320; in 1887.1 personal property, 1882, $810,000,000, and in 1886 and 1887, $945,ersonal, $132,929,103; real estate, $351,519,622.
I 450,000; in ’ 83. tax rate, per $1,000, $1-82; in ’84, $110*5; in ’ 85,
L o u i s i a n a .—The Constitutional amendment passed Dec., 1879» $2-04; in ’86, $1-27.
M in n eso ta .—All the old State bonds formerly held by the permanent
provided for a new bond in place of consols of 1874. bearing 2 per cent
for 5 years, 3 per cent for 15 years and 4 per cent afterwards. In school fund have been redeemed or exchanged for 4^8. Minnesota re
June, 1882, a constitutional amendment passed the Legislature and fused for some years to recognize the “ State Railroad Bonds of 1858,
was confirmed at the eleotion in April, 1884, giving new bonds at 4 per to the amount of $2,275,000, but a proposed compromise with the
cent after Jan. 1,1385, and doing away with the provision of 3 per cent holders was provided for in 1881, and was carried out by the issue of
for fifteen years. There is considerable overdue interest of the years the 4*2 per cent bonds. Taxable valuations and State tax per 951,000
1874 to 1880, inclusive. The constitution of 1879 limits the power of have been:
taxation to 6 mill a on the valuation, of which only 3 mills may be ap Years
Real Estate.
Personal.
Tax Rate.
propriated for interest on the debt; in 1884 lh j mills sufficed to pay 2 1883
$255,910,090
$78,549,269
$1’80
per cent, but for 1885 a rate of 2"s was made on a total taxable valuation 1884 .....................
. . . . 307,859,774
80,298,879
1*30
of $212,725,566. A suit by the State of New Hampshire against 1885 ........................
310,781,118
80,300.000
1*80
Louisiana as assignee of her bonds, was decided in favor of Louisiana by 1 8 8 6 !" ." " .'.'" .'" .* " .'.'......... 380*000.000
83,000,000
1-30
Che U. S. Supreme Court.
M isso u ri.—The tax rate is $ 4-00 per $1,000, Bonds maturing are
M a in e .—The debt January 1, 1887, was $5,157,000. The sinking
fund $2,110,390. Tax rate for 1880, $5-01 per $1,009 of valuation met by sinking fund. Total State debt Jhn. 1« 1887, was $14.180.000,
school fund and University certificates, $3,053,000. The
o f 1870; 1881-82, $4-50; 1883-84, $1-00; 1885-6, $3*75 on valuation including
Hannibal & St. Joseph RR. paid the State $3,000,000 for its debt, but
of 1881.
the State refused on Jan. 1,1882, to pay the coupons on its own $3,000,M a r y la n d .—The State has largely assisted canals and railroads, and 000 of bonds. Litigation between the State and company ensued, re
holds $5,302,286 of stocks and bonds ranked as productive; the State sulting in a ludgment against the company for $476,049, as due the State
also holds $28,126,034 in unproductive securities, which includes on May 11,1883; an appeal to the U. 8. Supreme Court is yet pending.
$25,371,966 on acoouut of Chesapeake A Ohio Canal. The State e x The following is a statement of the assessed property in this State on
changes the “ Defense Loan” at par for new certificates of indebtedness, June 1,1883,1884 and 1885:
bearing interest at 3-65 per cent, redeemable in 15 years. Assessed val
1883.
1884.
1885.
uation, Ac., have been:
$495,293,007
$518,803,118
Years,
Real & Personal. Tax per $1,000. Real estate....................$443,144,455
Personal
property---173,345,191
186,425,373
181,
1 8 8 3 ..................................................
$166,089,380
$l-87ifl Railroad property, Ac.
39,760,767
44,564,997
46,444,83ft
1 8 8 4 ......................................
469,593,225
D871*
1 8 8 5 ...............
473,452,144
..... T ota l.......................$656,250,413
$726,283,378
$746,381,081
1 8 8 6 .......................................................
476,829,611
187^
N e b r a s k a .—The State school fund holds $326,267. Assessed valu
—(V. 43, p. 217.)
M a s s a c h u s e t ts .—1
The funded debt, Jan. 1, 1887, was $31,429,680; ation of real estate, personal, railroad, Ac. (33*3 per cent of true value,
the sinking funds were $18,964,412. The Hoosac tunnel and connections and tax rate per $1,000, have been:
Valuation.
Tax Rate.
cost the State heavily. The loan to Boston Hartford A Erie Railroad Vftars
............... $126,615,886
$7-691a
was secured by “ Berdell” mortgage bonds, afterwards exchange 1 for 1«84
1885............................................
........................
133,418,700
7’7 2 ^
N. Y. & N. E. RR. second mortgage bonds, and these bonds were sold
........................................
............. 143,932,570
,
T62**
in 1885 at 90. Assessed valuation, tax-rate, &o., have been:
1887.I I I . . " r . " .................. 160,506,266
Real
Personal
Total
Sinking
Years.
Estate.
.Property.
Debt.
Funds.
N e w H a m p s h ir e .—'The debt of New Hampshire was created for war
1882
- . . . . $1,189,524,370 $312,858,614 $32,511,680 $16,944,263 purposes. The Municipal loan of 1872 was issued to cities and towns,
1 8 8 3 .......
. . . 1,226,111,297 835,601,175 31,423,680 16,836,672 the proceeds to be applied to their war debts. Total valuation in 1883
1884
*
1,258,452,712 829,339,811
31,423,680 17,731,725 $227,914,543; in 1884, $231,340,088; in 1886, $238,166,855; tax rate
1 8 8 5 ..............
1,287,993,899 827,043,710
31.423,680 18,182,672 for State purposes nearly $2*00 on $1,000 of valuation.
1886.'.’ ."".'.'.... 1,340,493,673 839,403,214
31,429,680 18,964,412
M ic h ig a n .—The debt is practically extinguished, as the sinking fund ' N e w J e r s e y .—The debt was created for war purpose0. Valuation
has sufficient assets to pay the bonds. Equalized valuation of real and of real and personal property (taxable) was $573,256,203 in 1886.
6
INVESTORS’
SUPPLEMENT
[V ol. X L V ,
Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f an y error discovered in tbese T a bles.
DESCRIPTION.
For explanation see notes on first page of tatoles.
Date of
Bonds.
North Carolina—Fund, b’ds (coups.tax-rec’ble).
1879
. ...
Old bonds not funded.........................................
Bonds to North Carolina R R , fundable..........
Bonds for N. C. RR. issue (tax receivable ops.)
1879
....
RR. bonds not fundable (Chatham and W.&T.)
Penitentiary bonds, act Aug. 24, 1868............
1868
Special tax bonds (m 3 classes).......... ..............
Ohio—Registered loan of 1881............................
1881
New 3% loan ($250,000 due yearly after ’ 89).
....
Pennsylvania—Reg. bonds, tax fr. (red’ble ’92).
1877
Registered bonds, tax free, 15-25 years........
1879
1882
Loan of February, 1882 (registered)...............
1882
do
do
m ten series.............
Agricultural College land scrip........................
1872
1863
Rhode Island—Vtax bonds.....................................
1864
War bonds....................................... ..................
South Carolina—State House stock and bonds.. 1853 t o ’54
1866
Funding bonds and stock..................................
1854
Blue Ridge Railroad bonds...............................
1868
Funding bills receivable..... ..............................
1868
Payment of interest............................................
1868
Funding bank bills....................................... .
1869
Conversion bopds and stocx.............................
1878
Deficiency bonds & stock (act 1 8 7 8 )...............
1874
Consol, bonds and stock (Brown)......................
1874
Tennessee^Funding bonds, act of 1873.............
Bonds registered, act of 1873............................ Various.
Held by E. T. University (not to be funded)..
1882
Compromise bonds (act of May 20, 1 8 8 2 )___
Settlement bonds, act of March 20, 1883........
Ì883
do
do
5 & 6 per cents.
1872
Terns—Funding State debt (act May 2 ,1 8 7 1 )...
1871
Frontier def’se, gold, act Aug.5,’70(red’ble ’91)
1872
Revenue deficiency bonds, act Dec. 2 ,1 87 1 ..
1874
Bonds, act Mar., 1874 (for paying float’g debt)
1876
Redemption of debt, act Aug. 6, ’76................
1879
Bonds, act April 21,1879..................................
1867
Bonds issued to School Fund............................
Virginia^-Old bonds, 23 fundable......................... 1851to ’ 66
1851
Old bonds sterling 2« fundable.........................
1871
Consol, (act M ar.’71) coup, tax receivable___
1871
do
do
reg., conv. into coup...
1872
do (act 1872) “ Peeler,’ ’ cp. not rec’ble..
1872
do
do
“ Peeler,” reg. and certifs .
1871
Deferred certificates (W. Va.)....... ..................
1879
1C-40S, act March 28, ’79, coup, and reg........
1879
do
do
sterlin g .........................
1882
“ Riddleb’r” b’ds, acts Feb.l4,’82,<SsNov.29,’84
Size or
Amount
par
outstanding.
Value.
Rate.
INTEREST.
When
Where Payable and by
Payable
Whom.
$50 &o. $3,068,486
4
J. «Ss J.
500 &c.
2,040,600
6
Various
1,000
202,000
6
Various
1,000
2,593,000
6
A. «Ss O.
1,000
1,180,000
6
1,000
* 44,000
6
A. «Ss 0.
1,000 11,366,000
6
A. «Ss O
100 &o.
600,000
4
J. «Ss J.
___
2,740,000
3
J. «Ss J.
100 &c.
6,502,000
5
F. «Ss A.
100 «Sso.
1,848,400
4
F. «Ss A.
50 «fec.
6,861,100 3 ^ «Ss 4 F. «Ss A.
50 &c.
1,249,600 3*2 «Ss 4 F. «Ss A.
....
500,000
6
....
1,000
614,000
6
J. «Ss J.
1,000
6
F. «Ss A.
732,000
1,000
154,114
6
J. «Ss J.
50 «Sso.
26,650
6 g. J. «Ss J.
1,000
52,000
6 g. J. «Ss J.
1,000
13,000
6 g. A. «Ss O.
1,000
128,000
6 g. A. «Ss O.
500 &C.
36,500
6 g. J. «Ss J.
500 &o.
44,200
6 g. J. «Ss J.
....
418,941
6
J. «Ss J.
500 «fec.
6,138,995
6
J. «Ss J.
1,000
J. «Ss J.
Ç 6
1,000
) 5<Ss 6 J. «Ss J.
1,000
397,000
6
J. «Ss J.
500 «fec. 2,014,000 3, 4, 5, 6 J. «Ss J.
100 «fec. 10,932,400
3
J. «Ss J.
100 &C.
1,038,000
5 «Ss 6 J. «Ss J.
67,000
6
Various
1,000
499,000
7 g. M. «Ss S.
1,000
467,000
7 g- J. «Ss J.
1,000
288,000
7 g. J. «Ss J.
1,000
1,647,000
6 g. J. «Ss J.
100 «fec.
1,068,900
5
J. «Ss D.
....
82,168
6
500 «fec.
1,759,425
6
J. «Ss J.
£100 «fec
629,090
5
J. «Ss J.
100 «fec. 13.019,000
6
J. «Ss J.
100 &c.
1,212,910
6
J. «Ss J.
100 «Sto.
365,000
6
J. «Ss J.
532,684
6
Various 12,691,530
6
J. «fe J.
■
6,890,300
3 to 5 J. «Ss J.
219,800
3 to 5 J. «Ss J.
100 «fec.
2,872,320
3
J. «Ss J.
Principal—When
due.
N. Y., Nat. Bk. of Republic.
1909
Cps. since July ’68 unpaid.
1868 to ’98
Raleigh, State Treasury.
1884 to ’85
N. Y. Nat. Bk of Republic. April 1, 1919
Cps. since Ju ly’68 unpaid.
1868 to ’98
Coup, of Jan.’69«fesince unp.
Oct., 1898
Cps. A <Ss0 ’69 & Ap ’ 70 unp.
1898 to ’99
N. Y., American Exoh. B’k.
July 1,1888
N. Y., Nat Bk. of Republic. July l , ’89-’99
Phila., Farm. <Ss Mech B’ k.
Feb. 1,1902
do
do
Aug. 1. 1904
do
do
Feb. 1.1912
do
do
Aug. 1, ’88 to ’ 92
Harrisburg, Treasury.
Feb. 1,1922
Providence, R.I.H. <Ss T. Co.
July 1,1893
do
do
Aug. 1,1894
Columbia, State Treasury.
1871 <Ss ’81
Columbia and New York. J’l y l , 1887 t o ’97
Columbia, Treasury.
J’ly 1,1875 t o ’79
Columbia and New York.
July 1,1888
do
do
July 1, 1888
do
do
July 1,1889
do
do
July 1,1882
do
do
July, 1888
N. Y., National Park Bank.
July 1, 1893
July 1,1914
1892, ’98,1900
Nashville, Treasurer.
Various.
New York, Cont’l Bank.
Jan. 1, 1912
Nashville.
July 1, 1913
do
July 1,1913
State Treasury.
1891
New York, Bank of N. Y.
1911
do
do
1892
do
do
March 1,1904
New York <SsState Treasury. July 1, 1906
do
do
July 1, 1909
State Treasury.
Matured.
1886 to ’95
1886
1905
1905
Richmond, Treasury.
Contingent
1919
1919
July 1,1932
. . . . .
*565,500,687 in 1885; $554,828,114 in 1884; $548.495,069 in 1883.
Tennessee.—A funding law was passed (act of May 20, ’ 82» without
State school tax, $2 50 per $1,000.
the tax-receivable coupon clause, and giving new bonds at 60 per cent
of
the principal and interest of old, the new bearing 3 per cent in 1882,
N ew Y o r k .—The financial condition of the State has been fortified by
the payment of all debt exoept as above. The sinking funds October, 83, 4 per cent in 1884 and 1885, 5 per cent in 1886 and 1887, and 6 per
cent
1888 to 1912. Exchanges were made in New York July, 1883,
1886, amounted to $5,051,073. The new Capitol building has cost
the State thus far $17,863,401, paid for by taxation. Valuations and 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
State tax rate per $1,000 in 1886 and for three years previous were:
Real estate.
Personal.
State tax. on the basis of new bonds at 50 per cent of the face value of old, a id
bearing
3 per cent interest; the old State debt proper of $2,118,000 was
1 8 8 0 ...............................$2,315,400,526
$322,468,712
$3*50
made an exception, and new 5 and 6 per cent bonds were issued for that
1884
.................... 2,669, L73,311
345,418,361
2-571fl
at the face value. The compromise bonds of 1882, 3, 4, 5 and 6 per
1885
........
2.762,348,000
332,383,239
2-96
cent bonds are fundable into the new settlement 3s, at five-sixths of
1886
....
2j899,899,062
324,783,281
2‘95
the face and interest, up to and inclusive of July, 1833, coupons—thus
N orth C arolin a.—Interest was paid up to January 1882 on the $1,000 compromise bonds receive $858'33 in new 3s, and interest since
bonds issued to No. Car. RR., as the State holds $3,000,200 stock and re July, 1883, paid in cash. All the settlement bonds are redeemable at
ceives dividends thereon. The old North Carolina RR. construction option of the State after July 1,1888. Assessed valuations and tax rate
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132), and per $1,000 have been as follow s:
many nolders have already so exchanged. The funding law of March 4.
Other property. Railroad prop’ty. Tax rate.
Real estate.
1879, provided for funding old ante-war bonds at 40 per cent of the face
$26,546,245
$2-00
$195,383,568
$
value; “ New ” railroad bonus recognized as valid at 25 per cen t; fund 1882
195,753,414
26,884,459
' 31,547,299
3t o
ing bonds of 1866 and 1868 at 15 per oent. Nothing for overdue cou 1883
26,631.284
34,350,170
1884
200,212,900
3-00
pons. Coupons of the new bonds are receivable for taxes. The term
300
201,097,500
25,651,808
31,547,582
for funding ended; but has been continued till March., 1889. If 1885
24,790,914
31,547,582
200,118,265
300
all were funded the new 4 per cents would be $3,589,511. Special 1886
T ex a s.—The old high-rate bonds were redeemed and lower interest
tax bonds were ignored; also bonds to Chatham RR., 1868, $1,030,000,
bonds
issued.
Assessed
valuations
and
rate
of
tax
per
$
l
,000
have
been:
and to Williamston <SsTarb. RR., $150,000, and for Penitentiary under
Total val’ation. Tax rate
Personalty.
Real estate.
acts of 1868. The speoial tax bonds are in 3 classes, class 1, bearing Years.
$169,767,572
$419,925,476
$3
..
$250,157,904
the coupon of April 1869 and since; class 2 of Oct. ’69; class 3 of Api ’70. 1882..
3
228,578,137
527,537,390
In June, ’87, U.S. Circuit Court decided tbe suit of special-tax bondhold- 1883.. .. 298,959,253
3
255,213,964
603,060.917
holders, and the case goes to the U. 8. Supreme Court, and in ’ 87 Messrs. 1884.. .. 347,846,953
3-75
621,011,989
..
375,890,594
245,121,395
1885..
Morton, Bliss & Co. were negotiating a settlement on the basis of a new
630,525,123
3 75
235,313,445
1886.. .. 395,211,678
4 per cent bond.
V i r g i n i a .—The old bonds two-thirds fundable and the sterling
Assessed valuation of real estate is about 60 per cent of true value.
bonds carry coupons from July 1869, exoept 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
Real estate.
Personalty. Total val’ation.Tax $1,000 Jan. 1881 and since; but the consol, and 10-40 coupons being taxYears.
$62,995,728
1 8 8 1.... $104,742,911
$167,738,639
$2-80
receivable, these bonds are generally sold with matured ooupons
1 8 8 2....
108,988,184
71,389,341
180,377,525
2-50
off.
The first funding law of March, 1871, allowed holders of
124,135,377
77,087,346
1 8 8 3....
201,222,723
2-50
bonds to fund two-thirds of their debt into new 6 per cent bonds, bear
126,955,679
1 8 8 5....
82,613,417
209,569,096
2-50
ing coupons receivable for taxes, and receiving for the other one-third
121,618,200
81,134,122
1 8 8 6 ....
202,752,652
2-50
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 the law, and the
O h io.—Ohio had a State debt of only $3,341,665 in September, 188 7 bonds issued under it were called “ Peelers.” The McCullooh law of
but large local debts, amounting in 1887 to $53,528,387, against $25, March 28,1879, authorized the 10-40 year bonds, bearing 3 per oent
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 lO
Ohio have been as follow s:
years, ooupons tax-receivable. In February, 1882, the Riddleberger
Real ostate.
Personalty.
Real estate.
Personalty. law for re-adjusting the debt and the laws familiarly known as
“ Coupon killers,” were passed (see V. 34, p. 88. The Riddleberger
1866. $663,647,542 $442,561,379 1883.
$1,131,058,750 $542,207,121
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 1886. 1,173,106,705 515,569,463 from 47 to 31 on the different classes. This law was also amended
and all bonds offered for funding after Jan., 1885, were required to
—State tax rate per $ l,0 0 0for’86-87, $2-90. (V. 43, p. 775.)
P e n n sy lv an ia .—Revenue is raised principally from corporations. carry the coupon of that date. The Supreme Court of the United
States
held (V. 36, p. 285), that the law requiring the validity of the
Taxes are levied on personal property. The rate per $1,000 in 1886
was $3. Sinking fund, Nov., 1886, was $10,180,746, including $5,305,- coupons to be established before a State court did not impair the contract
making
them receivable for taxes, and was therefore constitutional, but
814 in U. S. govts. Any coupon bonds may be changed to registered.
the question was again before the U. 8. Supreme Court in April, ’85, when
Real estate valuation in 1884, $1,600,000,000.
that Court held that a tender of coupons in payment of taxes was sulfiR h o d e Is la n d .—The debt was all created for war purposes. In i cient for the property owner. (See also V. 42, p. 188.)
January, 1887, 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, l “ Deferred” bonds or certificates by the Legislature of West Virginia
$1 20 on $1,000.
and the holders of some $-<,000,000 deposited their bonds with the
South C aro lin a.—The funding law of Dec. 23, ’73, provided for Farmers’ Loan & Tr. Co., and the certificates of that Co, were listed at
scaling down the old debt 50 percent. The consols were again “ re the Stock Exchange.
adjusted ” in 1879. The several acts were passed Dec. 3,1873, Dec. 24,
In May, 1887, the negotiations with English bondholders for a settle
1878, Deo. 24, 1879, and February, 1880. In July, 1887, there ment failed, though liberal concessions were offered by the bondholders.
were green consols not yet exchanged, $826,171, less amount invalid,
£ ssessed valuations have been as follows:
$631,373. The old issues yet fundable on July 1, 1887, were $454,149. Years.
Real Estate.
Personalty.
Total.
Tax Rate.
Valuations and rate of tax per $1,000 have been:
1882..
.. $232,386,357 $77.666,765
$310,053,122
$4-00
236,368,227
81,789,710
318,157,937
4-00
Tears.
Real estate.
Personalty.
Railroads.
Tax rate. ' 1 8 8 3....
1884..
.. 239,826,000
88,974,040
328,800,040
4-00
882-83... $77,609,666
$41,785,768
$13,767,400
$5-00
1885..
.. 256,916,140
84,884.270
341,800,410
4-00
883-84...
87,131,400
48,249,939
15,227,964
5*60
li-86. . . .
57,607,935
83,152,971
340,760,906
4-00
1884-85...
87,559,538
46,904.705
15,263,366
5’50
—(V. 43, p. 432,446; V 44, p. 451,495,527, 572, 627, 730; V. 45, p. 512.)
1885-86...
86,114,852
42,836,288
15,521,041
5-25
1
CITY SECURITIES.
November, 1887.]
> r-
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Date of
bonds.
For explanations see notes on first page of tables.
Albany, N. Y.—Purchase Congress Hall Block..
City improvement..............................................
Washington Park................................ .............
New Post Office s ite .........................................
Water debt <$400,000 due 1900-3, are 7s)......
New City Hall....................................................
South Pearl Street bon d s.................................
Bonds loaned to Albany <fe Susquehanna RR.
Atlanta, Oa.—Bonds for streets, floating d eb t..
Bonds for A. L. Railroad and State House___
Bonds for West. RR. and floating debt..
Bonds, 1st and 2d series, waterworks__
Redemption bonds......................... ..........
dO
................................. i .
Bonds to fund floating debt......................
Capitol bonds.............................................
Redemption bonds....................................
Augusta, On.—Bonds for various purposes
Baltimore—Consolidated loan of 1890....
Water loan, reg. stock, red. at will after 1916
Funding loan, reg. stock, tax free.................
Consolidated bounty loan......... ......................
Exempt bounty loan.......................................
Public parks (Druid Hiii).............................
Park improvement loan..................................
Patterson Park extension .............................
Five million loan to Baltimore & Ohio R R ..
New City Hall...................................................
Paving loan..................................................... .
Funding loan....................................................
Western Maryland Railroad............... ........
Jones’ Falls ($957,000 are 5s«fe$390,000 3’65s)
do
................................................
Water loan ($263,000 only are 6s)............
Harford Rim improvement lo a n ...............
Western Maryland RR. loan......................
do
do
.......................
Endorsements for Western Maryland RR
do
do Union Railroad............
Bangor, Me.—City debt p roper....................
Refunding bonds.......................................
Municipal loan............................................
Water loan bonds, coup. (Act Feb. 22, 1875).
European <fc North American Railroad..
Bangor & Piscataquis Railroad............... .........
Bath,Me.—Fund, debt ($78,000 are 5s,’97, J.&J.)
Knox & Lincoln RR.. for stock and coupons
Androscoggin RR. (guar, by Maine Cent. RR..
Knox & Lincoln Railroad ($23,750 each year)
do
do
(F.&A. and M.&S)
Railroad refunded............................................
Boston—nity debt and Charlestown.................
City debt registered....................................... .
ao
do
..........................................
do
............. .............................................
do
............................................ ...............
do
............................................................
City d e b t...........................................................
Suffolk County Court H ouse..........................
West Roxbury.......................................... ........
Burnt district, sterling loan............................
Consolidated street improvem’t, sterling loan.
Park bonds........................... ..........................
Mystic water debt, assumed, part renewed...
do
do
5 per c e n t .........
do
do
4 per cen t..........
do
do
Sterling.............
do
do
5 per cent gold.
do
do
4*a
do
do
do
4
do
do
do
4 per cent..........
do
do
3 ^ per cent.......
do
do
3 per cent.
Brooklyn—Brooklyn local improvement loan...
Mount Prospect Square loan.............................
Soldiers’ aid fund loan.......................................
Gowanus canal improvement loan, local........
Bushwick avenue
do
do
do .........
SouthSeventh st.
do
do
do ........
Fourth avenue
do
do
do
___
Wallabout Bay
do
do
.................
New York Bridge loan, registered and coupon
Bonds for N. Y. & Brooklyn Bridge, op. or reg.
Prospect Park loan, reg. & coup.........................
Prospect Park loan
A lb a n y .—The loan to AtLb.
gage
720;
1885
Population,
Size or
Amount
par outstanding.
value.
1866
1870-’71
1870-’82
1874
1874-’80
1882
1882
1865
1867-’72
1869-’70
1870 & ’72
1874
1877
1881
1879
1884
1886
Various.
Various.
1877
1878
1863
1865
1860
1863
$1,000
1,000
1,000
1,000
1,000
1,000
....
1,000
500 «fee.
1,000
500 &c.
1,000
500 «fee.
1,000
....
....
1,000
100 «fee.
100 &c.
LOO &e.
100 «fee.
100 &c.
100 &c.
100 &c.
100 «feo.
1853
1870-’74
1881
1870
1872
1872-’84
1885
1874
1880-4
1882
1887
100 «fee.
100 &c.
100 «feo.
100 «fee.
100 «fee.
100 &c.
....
100 «feo.
100
100 «fee.
100
....
....
1872
1,000
1885
500 «fee.
1874
1,000
1875
500 «fee.
1869
1,000
1869
Soil «feo.
......
Various.
Various.
1861
Various.
1869
Various.
1871-’72 Various.
....
1864 to ’80 1,000
1878-’82
....
1879
....
1885
....
1885
1885
....
Various.
....
1-87
....
....
1873
£100«fee
1869
£100«fco
1881
1,000
1862 t o ’ 86 1,000
1867 t o ’76
....
1875 <fe’ 78
....
1878
....
1872
■£100 «fee
1875-*7t>
....
1879
....
1879-’80
....
1883-84-85
....
1884-85-87
....
1837
....
1861
1,000
1856
1,000
1865
1,000
1866
1,000
1865
1,000
1863
1,000
1868 & ’69 1,000
1867
1,000
1870
1,000
1875-’83
1,000
1860 to ’73 1,000
1860 to ’72 1.000
339. 3 1 Q
Tn
t« «
100 -r
~
^
INTEREST.
When
Where payable and by
Payable
whom.
- -
inread
----------1----------------------- mortg’es on the Knox <feLincoln
for its proportion of $895,000 out of a total of $2,395.000 bonds 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 l886-»7: Real estate,
$2,856,445; personal, $3,3 i O,195; tax rate per $1,000. $24. Tax val
uation, 1885-86—real estate, $2.857,870; personal, $3,»41,830. Tax
rate, $24 per $1,000; 1884-85, $2,821,515 real estate and $4,095,820
personal; rate, $25.
^ B o s to n .—The population of Boston in 18 8 0 was 362,839; in 1870,
250,526, against 177,840 in 1860. The gross debt on May 1,1887, was
$46,799,963, and the total sinking funds, &o., applicable to it $19,971,8 U , ieaving the net debt $26,828,151. The law of April 17, 1885,
limited the taxation in Boston for city purposes to $9 on the average
valuation of five years preceding, to which is added the tax for city debt
and for State purposes. Up to Jan. 1,1887, the debt was not to be over
per cent of assessed valuation, and after that date 2 per cent
Assessed valuation on May 1 for four years has been:
Real
Personal
Tax
Net Debt.
Years.
Estate.
Estate.
Rate.
Deo. 31.
1884
.... $488,130,600
$194,526,058
$17 00
$24,766,064
1885 ............ 495,973,400
189.605.600
12 30
24,700,014
18 8 6
... 517,495,200
193,086,500
12 70
25,882,395
1887
.. 547,170,300
200.454.600
13 40
B r o o k ly n .—The whole city debt was as follows Jan. 1,1886 and *87.
Jan. 1,1886.
Jan. 1,1887.
Permanent d eb t......................................
$26,264,543
$26,077,543
Water loan.................................................
11,645,500
10,893,500
Debt payable from assessments............
2,618,000
1,640,000
Tax certificates................................
3,000,000
2,000,000
. . -
3*4 par cent bonds to pay off West. Maryland debt! Assessed
valuation, near the'full cash value, and tax rate have been:
Real
Personal
Total
Rate of Tax
Years.
Estate.
Property.
Valuation.
per $1,000.
1883
$189,91.-5,494
$58,889,738
$248,803,232
15 00
1884
191,516,113
58,135,586
249,651,699
16 00
1885
195,416,894
59,496,377
253,913,271
16 00
18 8 6...............................
.......... .
256,240,655
17 00
—(Vol. 43, p. 693, 738.)
B a n g o r , M e .—The loans to Eu. & No. Am. R. R. to Bangor & Pis. R.
R. are secured by first mortgages on those roads, and interest fuL v paid
d eb t...........................................
from the earnings The valuations (near full value) in 1886 were: Real LessGross
sinking fund......................
•state, $6,693,650; personal, $2,831,765. Municipal property, in
cluding water works, $810,000. In 1887, re»l estate, $6,770,998; perNet debt.......... ..................................
Principal—When
Due.
6
F. & A. Boston, Merchants’ Bank. Feb.. 1888 to »94
$127,000
M. <fe 8
418,000
7
New York.
1887 to 1900
1,058,000 4, 5, 6, 7 M. <fe N. New York and Albanv.
1910- ’21
M. <fe N. N Y., Merchants’ Nat.Bk.
7
115,000
May l, 1904
1,089,000
6 <fe 7 F. <fe A.
do
do
1894 to 1912
J. <fe J.
145,000
do
do
July 1,1905 t o ’ 10
4
62,000
Albanv.
Nov. 1, 1888
M. <fe N. N.
6
858,000
Del.ife Hud. Canal Co
1895-’97
J. <fe J. New York, Park Bank.
8
349,000
J. & J.. 1892
J. <fe J.
400,000
7
do
do
J. & J., 1890
J. <fe J.
318,000
8
do
do
Jan. 1, 1902
J. <fe J. New York, Fourth N. Bank.
7
427,000
Jan. 1,1904
J. <fe J.
77,500
8
Atlanta or New York.
Jan. 1,1897
Various
120,500
5
do
do
19111915
6
J. <fe J. New York, Park Bank.
335,000
Jan., 1888-1896
6
J. «& J. New York and Atlanta.
55,000
Jan. 1,1914
4ifl J. <fe J.
do
141,000
do
July 1, 1916
6 <&7 Various
2,256,000
Augusta, Treasury.
1887 to 1915
6
7,306,546
Q .-J . Balto., Farm. <fePlan. Bank.
July 1,1890
M. <fc N. Balto., Nat. Mechanics’ Bk.
5
5,000,000
July 1,1916
M. <fc N.
1,000,000
5
do
do
After July, 1916
6
M. «fe S.
2,211,068
do
do
Sept. 1, 1893
M. <fe S.
410,353
6
do
do
Sept. 1, 1893
Q.—M.
555,566
6
do
do
Sept. 1, 1890
0 ,— «
185,723
6
do
do
Jan. 1, 1895
4
200,000
1920
5,000,000
6
Q.—J. Balto., Farm. <fcPlan. Bank.
Jan. 1, 1890
1,500,000
6
do
do
Q.—J.
1900 and 1902
700,000
4
M. <fc N. Balto., Nat. Mechanics’ Bk. After Nov. 1,1920
800,000
6
Q .-J . Balto., Farm.«fePlan. Bank.
July 1,1900
1,000,000
6
J. «fe J. Balto., N. Mechanics’ Bank
Jan. 1,1902
2,027,000 3"65,5<fe6 Q.—F.
do
do
April 9,1900
100,000
3
do
do
Q.—F.
1900
5,000,000 4, 5<fe6 J. <& J.
do
do
July 1,1894,1922
600,000
4
J. «& J.
do
do
After Jan. 1,1920
4
681,000
July 1.1925
1,700,000
3^4 J. «& J. Balto., Farm. <fc Plan. Bank.
Jan. 1,1927
875,000
6
J. <fe J. Balto., N.Mechanics’ Bank. Jan. 1, »90 <&1900
117,000
6
J. <fe J. Baltimore, Franklin Bank.
Jan. 1, 1895
50,000
7
Various Boston, Merchants N. B’k.
1892
50,000
4
M. <fe N.
do
do
Nov.,1887 to 1891
100,000
6
do
do
J. <fe J.
Jan. 1,1894
500,000
6
do
do
J. <fe J.
July 1, 1905
1,000,000
6
do
do
J. <& J.
Jan. 1, 1894
925,000
6 & 7 A. «fe O.
do
do
April 1, 1899
180,500 4 1a <fc 5 M. <& S
City Treasury.
1897 & 1902
137,000
6
Various
do
1898
425,000
6
A. <fe O.
do
Jan. to Oct. 1891
i f-|J““ | , - C 6
do
J. <fe J.
July 1,1888 t o ’99
do
Various
t 6
1891 <&1902
382.850
4
do
J. <fe J.
1902 to 1920
9,060,500
6
Various Boston, Treasurer’s Offioe.
1887 to ’97
9,848,000
4
do
do
Various
1887-1914
450,000
do
do
4%g. A. <& 0.
Oct., 1889
1,391,000
31« Various
do
do
1896 to 1916
109,000
3H
do
do
1895 to 1916
947,000
3
Various
do
do
1895 to 19^6
230,000
5
do
do
Various
Various.
800,000
31 *
A. «fe O.
do
do
April 1, 1937
100,000
7
do
do
Various
1888 to 1891
4,997,604
5 g. A. & O. London, Baring BrothersApril. 1893
2,834,585
5 g. J. <fe J.
do
July, 1899
900,000
3 ^ J. <fc J. Boston, Treasurer’s Office.
1917 <&1937
789,000 3M to 6 Various
do
do
1887 to 1916
4,897,000
6
do
do
Various
1897 to 1908
13,000
5
do
do
Various
1907-1908
588,000
4
A. <& 0.
do
do
1908
1,947,274
5 g. A. <fc O. London, Baring Brothers
Oct., 1902
3,552,000
Boston. Treasurer’s Office.
5 g.
1905-1908
268,000
do
do
4*ag. A. <fe O.
1909
686,000
4 g. A. «fe O.
do
do
1909-1912
1,828,000
4
Various
do
do
19131917
575,000
do
do
3ia A. <& O.
1914- 1917
200,000
3
A. <feO.
do
do
April, 1917
213,000
7
M. <fe N.
Brooklyn.
V1
1891
90,000
6
J. <& J.
do
1887
394,000
7
J. <& J.
do
Jan. 1,1888 to ’ 94
15,000
J p fí
7
J. <fe J.
do
July 1,1888 to 90
68,000
7
J. «fe J.
do
1887 to ’90
75,000
7
J. «fe J.
do
1887 t o ’90
174,000
6 <fe 7 J. <fc J.
do
K SgSl
1887 t o ’89
O,.
72,000
7
J. <& J
do
July 1,1888
3,000,000
CDd 7
J. <fe J.
do
1899-1924
9,245,237 4, 5, 6, 7 J. <& J.
do
1905 to 1928
8,019,000
7
do
J. <fe J.
1924
0
1.217.000
6
do
J. «fe J
1915 t o ’24
A tla n ta .—The total bonded debt Jan. 1 1887, was $2,223.000. As
sessed value of real estate in 188£, $21,023,370; personal, $7,889,269;
tax rate per $1,000, $15. In 1886 real estate, $23,820,524; personal,
$7,679,489; tax rate, $15. population, 37,409 in 1880; 21,789 in
1870.
A u g u sta .—Of this debt, $600,000 was issued for railroads, and bal
ance for canal enlargement, water works, «fee. Sinking funds, Jan. 1,1885,
$330,000. Taxable valuation in 1885: Real estate, $11,468,310; per
sonal, $¿,088,130; tax rate, $16 25 per $1,000. Population in 1870,
by U. 8. Census, 15,389; n 1880, 21,891.
B a ltim o r e .—The Balt. <fc Ohio RR pays interest on $5,000,000.
Water loan is paid by mcome of water works, and Publio Park by City
Passenger Railway and. against a total dobtof $34,955,290 th.6 city is
chargeable with interest on only $18,698,722, and holds productive
assets, including the sinking funds, equivalent to $12,869,848, leaving
on Deo. 3 1 ,188b, only $5,828,875 debt over interest-bearing assets.
There are also held $5,789,000 of unproductive securities. Pop nation
in 1 8 7 0 .2f»7.154.? in 1
Rate.
$43,528,043
7,121,271
$4 ”,611,042
1,986)219
$36,406,772
$33 ,624,823
INVESTORS’
8
SUPPLEMENT.
[Voi. XLV,
Subscribers w ill eonfer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
DESCRIPTION.
f o r explanations see notes on first page of tables
Brooklyn—( Continued )—
Permanent water loan............................... . —
Sewerage fund bonds, continuous, local..........
Assessment fund bonds, continuous, lo c a l___
Temporary tax certificates..... ........................
Certificates of indebtedness...............................
Bonds to pay arrears to cou n ty .......................
Arrearage bonds, reg. (redeem, in 1894)........
Award bonds for lands taken............................
Buffalo, A. T.—Funded debt bonds.....................
water works bonds............................................
Tax loan bonds.....................................................
Cambridge, Mass.—City bonds.............................
City bonds............................................................
do
............................................................
do
............................................................
do
........................................................
do
.................................................... . . . . .
Water loan............... ................................. ..........
do
(only $12,500 are 5s).....................
do
............................................................
Charleston, 8. O.—Fire loan bonds, cou p on .......
Conversion bonds, to redeem past-due debt...
do
do
do
do
coup, or reg.........................
Chelsea, .Moss.—Sinking fund bonds....................
Bonds..............................................- ............... .
Funded debt, c o u p .........................................
do
notes...............................................
Water loan, coup..................... .........................
Chicago—W ater loan..............................................
Water loan.......................................................... .
Water loan (refunding).................................... .
Sewerage bonds..................................................
do
..................................................
do
.................................................
River improvement bonds...............................
Municipal bonds.................................................
Municipal and School bonds............................
Municipal bonds (refunding loa n )..................
Cook County debt....................................
Date of
Bonds.
Amount
Size or
outstanding.
par
Value.
Rate.
INTEREST.
When
Where Payable and by
Whom.
Payable
Principal—When
Due.
Brooklyn. *C! m
1887 to 1916
1857 to ’75 $1000 $10,893,500 3 to 7 J. <Sc J.
do
72,000
3 years from date.
1,000
3*2 J. & J.
Various.
'S COS è û
J.
&
J.
do
3 years from date.
1,018,000 3^2 & 4
1,000
Various.
£
do
1,000,000
3 years from date.
312 J. «Sc J.
J. <Sc J.
4
do
887,305
1887 to 1905
. .Tr
1884
J. «Sc J.
4
do
1924
549,000
g ç J k jg
1884
do
§
aß
1924
2,350,000 3*2 <Sc4 J. «Sc J.
1884
....
4
do
200,000
1893
1883
3 to 7 Various Buffalo and New York.
1887 to 1926
1870 t o ’86 l.OOO&c 5,059,936
do
do
June* 1888 to 1909
1870 to ’86 1,000«Sec 2,628,382 3 i2 to 7 Various
do
do
July 1, ’88 to 1900
416,-. 08 3 <Sc 412 J. «Sc J.
1880 t o ’86 l,000«Sce
A. <Sc O. Boston, Bank Redemption
5
April 1, 1889
100,000
1,000
1864
Jan. 1,1893
1,000
150,000
5 g. J. «Sc J. Boston, Tremont Bank.
1863
J.
<
S
c
J.
Boston,
Bank
Redemption
6
347,000
1890 t o ’96
1870 t o ’76 500 «&C.
J. <Sc J.
do
do
6
July, 1903-4-5
689,000
Ì873-’74 500 &c.
do
4
do
1895 «Sc 1905
265,000
do
do
Nov. 1. 1896
25,000
312
do
do
Various
April, 1888 to ’97
6
1,161,000
1868 to ’77 500 «¿0.
_
do
do
4 &5
1894-’98-1910
1,000
336,500
do
do
1906 and 1911
218,000
312
Charleston, Treasury
J. «Sc J.
1890
92,800
7
1866
do
A.. «Sc O.
1888 to 1897
500.000
7
do
Oct.,
1898
A.
«
S
c
O.
109,500
6
1878
do
July 1,1909
J. & J.
4
3,414,100
100 «fee.
1879
1887 to 1908
6
363,800
April 1, 1888
5,000
5^
Various Boston, N. Bk. Redemption Aug. 1,1891 to ’95
997,000
6
1,000
Sept. 1,1889-1890
96,000
4*2 Various
Aug. 1,1897
F. «Sc A. Boston, N. Bk. Redemption
6
100,000
1,000
1897 <Sc ’98
J. <Sc J. N. Y „ Am. Ex. Nat. Bank.
132,000
6
500,<Scc.
July
1, ’ 88 to ’95
do
J.
«
S
c
J.
do
3,490,000
7
1,000
July 1,1902
do
do
333,000
3-65 J. <Sc J.
10Ó, «fee.
1882
July.
1888 to ’95
do
do
J. «Sc J.
1,675,000
500 «See.
7
July 1,1900
do
do
489,500
4*2 J. <Sc J.
1880
July
1,1904
do
do
458,000
4
J. «Sc J.
July, 1890 to ’95
do
do
J. «Sc J.
2,608,000
1,000
7
July, 1895 <Sc ’96
do
do
J. <Sc J.
186,000
6
1,000
Jan. 1,1888 to ’99
do
do
J. «Sc J.
7
500 «See. 2,176,000
April 1,1901
do
do
4
J. & J.
1,042,000
188Ì
1865 t o ’80 500 «See. 4,941,500 412 to 7 M. <Sc N. N. Y., Metropolitan Bank. May 1 ,1887-’92
June, 1888
250,000 7 3-10 J. <Sc D. N.Y., Am. Exch. Nat. Bank.
1,000
1868
1889
do
do
150,000
7 3-10 J. <Sc D.
1,000
1869
Jan., 1890
do
do
98,000
J. <Sc J.
6
1,000
1863
Nov.,
1890
do
do
M.
<
S
c
N.
194,000
6
1,000
1855
April, 1895
A. <Sc 0. Pliila., Bk. of North Amer.
397,000
6
1847 to ’50 500 «Sec.
May,
1897
do
do
M.
<
S
c
N.
171,500
6
1847 t o ’48 500 «fee.
1897 <Sc 1898
750,000
7 3-10 Various N.Y , Am. Exch. Nat. Bank.
1,000
1867-’68
Jan., 1900
do
do
J. «Sc J.
60,000
6
1,000
j
1853
Various Pliila., Bk. of North Amer. June «Sc Oct., 1900
175,000
6
1,000
«* 1851-’53
Mar., 1888<Sc 1908
Cincinnati.
M. <Sc S.
131,000
6
1,000
1858
Sept., 1899
7 3-10 M. <Sc S. N. Y., Am. Exch. Nat. Bk.
150,000
1,000
1869
Sept., 1899
do
do
7 3-10 M. <Sc S.
150,000
1,000
1869
Oct., 1899
do
do
A.
<
S
c
O.
100.000
7
3-10
1,000
1869
Bonds to build Eggleston avenue sewer.
Aug., 1897
do
do
F. <Sc A.
300,000
. 7
1,000
1871-’72
Deo. 1,1891
do
do
J. «Sc D.
7
600,000
1,000
1871
July 1, 1902
do
do
7 3-10 J. <Sc J.
500 «fee. 8,191,000
1872
Cincinnati Southern R R ........
May 1, 1906
do
do
500 «See. 4,825,000 6g. or 7*3 M. <Sc N.
1876
do
do
($2,890,'
1902-1908-1909
do
do
2,260,500
6 «Sc 7 Various
1878 <Sc ’79 1,000
do
do
..............
May 15,1904
Cincinnati.
M. <Sc N.
7
995,000
i;o o o
1874
Floating debt bonds, coupon.
1890
J. «Sc J. N*. Y., Am Exch. Nat. B’k.
65,000
7
ljo o o
1875
Park improvement..................
Aug.,’90
<fe’95
Cincinnati.
F.
«
S
c
A.
7
200,000
1,000
1875
5 <Sc6 M. «Sc N. N.Y., Am. Exch. Nat. Bank May 1889-1909
175,000
1,000
2
1879
May
1,1906
Cincinnati.
M.
<
S
c
N.
7
50,000
Ì
1876
Aug. 1, 1897
F. <Sc A.
7
___
76,000
2
1887 t o ’95
Cincinnati.
5<Sc7 Various
884,067
1876 t o ’83 Various
Street improvement bonds, short.
4 <Sc5 Various N. Y., Am. Exch. Nat. Bk. 1930 <Sc 1931
2,067,000
, l880 «Sc ’ 81 1,000
1889
<Sc 1890
Various
4 <Sc 5
t
64,706
July 1,1887to 92
Cincinnati.
4 «Sc 6 J. <Sc J.
79,000
100
1882
Work House and Infirmary..............................
June
1,1901
N.
Y.,
Am.
Exch.
Nat.
Bk.
J. <Sc D.
4
500,000
1881
100 «Sec.
Deficiency loan (redeemable after 1891) —
1905
Various
4
2,473,000
Deficiency and pavement bonds (10-20 yr.) . 1885-’86.
1892
A
1903
N.
Y.,
Am.
Exch.
Nat.
Bk.
1,775,000 3*65 to 7 Various
Clevelands-Water works ($200,000 are 6 p. ct.) . 1872 t o ’ 84 1,000
1887t o ’97
do
do
1,923,000 4, 5, 6, 7 Various
Funded debt............... - ........................- ............ . 1872 t o ’ 84 1,000
1887
t
o
’92
do
do
6 <Sc 7 Various
322,000
yiew , Wade and Monumental parks . . . 1872 t o ’87 1,000
1894 to ’98
do
do
6<Sc 7 Various
275,000
n.mmi and canal lock ($11,000 are 6 s )............ . 1874 to ’ 87 1,000
1888
do
do
A. <Sc O.
7
35,000
1,000
1871
School....................................................... .........
1888-1895
do
do
250,000
4-4 in Various
1,000
General bonds, various purposes.................... . 1885-86
1893 «Sc 1907
do
do
2.138,000 5, 6 «Sc 7 Various
Viaduct (mostly F. & A., A. & O. and J. <Sc D. ) 1873 to ’78
1902-3
do
do
Various
4
335,000
1,000
1886
Elevated Roadway............................................
1887-’95
do
do
4, 5, 7 Various
572,300
Special bonds...................................................... . Various.
1899-1902
do
do
Various
4,
41«,
5
225,000
1,000
Kingsbury and Pearl Street Bridges............... . 1884-5-6
1905, payable ’ 90
N. Y., Coffin & Stanton
228,000
412 J. «Sc J
1885
ljo o o
Des Moines, Iowa—2d renewed judgment bond s
July, 1888, or ’98
do
do
J. «Sc D
7
175.000
1,000
1878
Funding bonds, redeemable 1878....................
1906,red.atoption
do
do
225,000
412 M. <Sc N
1886
Warrant funding bonds.................................... .
1887 to 1906
4 to 7 Various N. ¥., First Nat. Bank.
1,451,000
t 1855 t o ’81 500, «Sec
Apr. 1,1888 to ’93
do
do
7
Various
357.500
. 1863 to ’73
Public Building stock (City Hall) bonds.
C h icago.—The city debt is limited to 5 per oent of the Illinois Stat e
Population in 1870, 396,099, against 566,663 in 1880. Valuation o)
/aluation. Total funded debt January 1,1887, was $12,583, 500, but
property and tax rate per $1,000 have been:
Years.
Real.
Personal.
Rate. of this $3,955,000 was on account of the Water Works, which yield an
1885 ................................ $311,308,060
$19,375,702
$29 00 income much above the interost charge on the debt Sinking fund in
1886*.................................... 336,221,357
22,049,310
26 50 1887 was $341,037. Valuations as follow s:
Personal. Tax per $1,000.
Real Estate.
1887 ................................. 339,922,812
14,217,276
....... fears.
$31.720.237
$35 48
884 .................................. $105,606.743
1888.’ .................................... 362,138,563
21,685,597
.........
32,311.411
36-81
1-185
.................................
107.146.881
The debt of Kings County, separate from the debt of Brooklyn, if
35,516,009
.........
1886 .................................. 122,930.123
about $4,000,000, of which the city is responsible for I0.oths.
28,068,196
1887
.........................
130,474,379
B u f f a l o , —Valuations and tax per $1,000 have been:
The assessed value of real estate is about one-third of its true value.
Years.
Real estate.
Personalty. Tax Rate. Population in 1870 was 298,977, and in 1880,503,185. The South Park,
1883
...................................$93,167,090
$8,796,675
$16 27West Chicago Bark and Lincoln Park loans are not debts of the city
1884
.................................. 96,341,455
8,459,735
1644
of distinct corporations.
•
, ,
1885 ........
99,912,470
8,461,675
1721but
C in cin n ati.—In addition to the bonds as stated above, city holds
1886
................................. 113,963,945
8,405,225
1727$1 274,000 of Cin. South, bonds in sinking funds and $474,473 Street
Buftalo also pays 77-100 of Erie county debt. Coupon bonds are exchange Improvement bonds. In 1870 the population was 216,239, against
able for registered. The interest on different bonds is
4, 4*2, 5,6 255,139 in 1880. The following table from the books of the Auditor of
and 7. Population, 202,818 in 1885; 154,766 in 1880; 117,714 in 1870. Hamilton County, Ohio, exhibits the assessed valuation of the city of
C a m b rid g e * m a s s .—The sinking funds, Nov. 30,1886, amounted to Cincinnati in the year 1860 and 1870, and from 1884 to 1888:
Tax per
Total
$1,299,188, and net debt to $2,208,311. The investments are nearlyall
Personal
Real
$ 1.000
Valuation.
Estate
in city bonds at par and stamped “ not negotiable. Valuation, 1885, Years.
Estate.
$17 45
$93,032,716
$31,411,912
real estate $42,588.300; personal $12,758,255; total, $55,346,555; tax I860............. i $61,620,904
31 60
136,107.236
57,370,754
rate, $1 55. Valuationin ’86, $44,055,200 real estate and $14,490,470 1870................. 78,736,482
25 56
169,534,192
41,908,822
personal; total, $59,445,670; tax rate, $1 50 per $100. Population, 1884................ 124,625,370
26 86
170,086,968
42.632,868
52,669 in ’ 80; 39,634 in ’70.
1885.............. 127,454,100
25 44
171,950,031
42,571,661
1886...............
129,378,370
C h a r le s t o n . S. C .—The bonds of Charleston are mostly held within
174,000.000
the State of South Carolina. Conversion bonds of 1878 and 1879 are issued 1888
in exchange for city stock. Valuations and tax rate per $1,000 have been: The city owns the stock of the Cincinnati Southern Railroad, leased as
Years.
Real Estate.
Personal Prop. Tax Rate. 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.
1884
.................. .................. .................. $16,246,865
$3.186,216
$20 00
C leveland.—The sewer, street improvem’ts and street opening bonds
1885 .................................... 16,753,760
8,138,153
20 00
are
for
special
looalimprovements,
and redeemed bv assessments on the
1886 .................................... 16,933,565
7,809,212
......
property benefited. Population, 160,146 in 1880; 92,829 in 1870.
—Population, 49,984 in 1880; 48,956 in 1870.
Assessed
valuation,
tax
rate,
iebt
and
sinkins funds have been:
C h e ls e a , m a s s .—Sinking fund, Jan. 1, 1887, $365,712, which in
cluded $254,000 of the above sinking fund bonds, andnetdebt, $1,296.- years. Real & Personalty. Tax ^ 1,000. General Debt. |]3pecial Debt.
$14*20
$6,386,000
087. Valuationin 1886, real estate, $16,530,850, and personal, $2,275,- 1884 ........ $85,978,005
14*35
6,917,000
708,000
812; total, $18,806,662; tax rate, $17 80. Population, 21,782.in 1880; 1885 ........ 86,285,845
1086
91, ) ' , 1 ^
1215
8,015,000
695,900
18,547 in 1870; 24,347 in 1884.
N ovem ber,
1887.1
CITY
SECURITIES.
9
Subscribers w ill confer a great favor by giv in g im m ediate notice o f a n y error discovered in tbese T a bles.
INTEREST.
Principal —When
Date of
Size or
DESCRIPTION.
When
due.
Where payable and by
par
outstanding. Rate.
bonds.
payable
whom.
value.
For explanations see notes on first page of tables.
Detroit, Michigan -(Continued)—
Public sewer bonds ($35,000 are 6s)................ 1872 t o ’86
1879
Bonds for purchase Belle I s le ..........................
1886
1886
Public Im provem ent.........................................
1880
Elizabeth, N. J.—Improvement bonds................ 1871 to ’74
Funded’ debt bonds............................................. 1870 t o ’75
School House bonds............................................ 1872 t o ’73
Market House bonds.......................................... L865 to ’66
Consolidated improvement bonds..................... 1875-’76
1877
Funded assessment bonds..................................
1876
T«-x arrearage bonds..........................................
1882
New Adjustment bonds and scrip....................
rie (Penh.)—Water bonds.................................. 1869 t o ’73
Improvement bonds........................................... 1869 to ’ 73
Consolidated bonds.. .......................................... 1874 to ’78
1887
1887
Evansville, Indiana—Series A, fund, debt loan.
1887
1887
1887
New Water Works loan......................................
luU River, Mass.—City notes...............................
" City bonds...........................................................
1873
1871
1875
1883-8
do
registered........................................
0 alveston, Tex.—Limited debt bds. (sk’g fd. 2 %) 1877-8-9
Fitchburg, Mass.—City bonas...............................
Capitol bonds.............................•••••■••■...........
Hartford town debts to railroads_10-25..........
do
do
war..................................
do
floating debt..............................
(fity bonds............................................................
School bonds..... .................................................
Water bonds........................................................
improvement bonds...........................................
City Hall and Engine House bonds..................
Holyoke, Mass.—City notes..................................
City bonds, sinking fund....................................
Water loan
do
.....................................
Railroad loan do
($60,000 are J. & J.).
Indianapolis—Bonds to railroads.......................
Bonds to Un. RR. Tr. Stock Yard (mortgage).
Loan bonds, series A ..........................................
do
do B ....................................... ..
do
do C.................................... —
do
do D ..........................................
Purchase-money bonds—Southern Park..........
Jersey Oity—Water loan bonds, mostly coupon
Water loan bonds,mostly coupon....................
Water loan...........................................................
Forty-year bonds................................................
Improvement bonds............................................
Morgan street dock............................................
Funded debt bonds.............................................
Old Jersey City bonds, coupon..........................
Hudson City bonds............................. ................
Bergen school loan bonds..........................
Bergen street improvement b on d s..................
d<T bounty loan............................................
Assessment funding bonds................................
Temporary loan .................................................
Bonds to fund floating debt. Ac.. coup, or reg.
Bonds to pay maturing bonds, &c.....................
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 Ac.
1,000
100 &c.
100 &c.
500 &c.
1,000
1,000
1,000
1,000
Large.
lOOO&c.
1,000
1,000
1,000
1,000
1,000
1,000
Water loan '...........................................................
Galveston Countv bonds, G. C. A 8. F. R R —
Hartford, Conn —Water bonds.............................
City bonds (H. P. & F. RR.)...............................
$ 1 /0 0
....
5,000
x,ooo
1882
1865-’81
1876
1868
1872
1879-’80
1863
1864-’79
1872
1877-’79
Various.
1878-’81
1880-’82
1871-’74
1874
1872
1873
1869 to ’70
1877
1873
1874
1874
1875
1874
1852 to ’77
1869 to ’73
1872
1871 to ’74
1870
1872
1864-’65
1864-’70
1868-’70
1869
1865
1875~’76
1879
1880-’ l
1884
Kansas Oity, Mo.—Renewal bonds....................... 1875 to ’81
1873
Funding bonds.....................................................
1,000
1,000
1,000
1,000
100 Ac.
100 Ac.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &o.
500 &o.
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
500 Ac.
1,000
1,000
1,000
Various
l,000Ae
l.OOO&c
Various
1,000
....
$391,500 312,6 A 7 F. & A. N.Y., First National Bank. 1892to’97, A 1906
F. & A.
do
do
1899
4
100,000
do
do
Jan., 1911
30,000
312 J. & J.
J. & D.
do
do
Dec , 1916
370.000
3is
4
Aug. 1.1888-1892
26,000
Various
City Treasury.
1879 to ’81
850.000
7
Various
do
1882 to ’95
435,000
7
Various
do
1882 to ’93
48,000
7
Various
do
1882 to ’ 36
41,000
7
A. & O.
do
1885 to ’96
764,000
7
J. & D.
do
1907
260,000
7
M. & N.
do
1836
196,000
7
J. A J. N. Y,, Mercantile Trust Co.
July 1, 1912
4
(i)
Various
New York.
1889 to 1893
233,000
7
Various
do
1889 to 1893
7
62,000
do
J. & J.
1894 to 1898
527,700
7
T. & J.
do
1897 to 1907
4
250,000
J. & J. N. Y., Winslow, L. A Co.
Jan. 1, 1912
675,000
5
do
do
Jan. 1, 1912
350,000
412 J. & J.
do
do
J. & J.
July 1, 1912
720,000
4
do
do
July 1, 1912
J. & J.
400,000
6
City
Treasury.
Nov.,
1887 to ’92
Various
311,000 37e, 4 ,6
do
Various
1891
45,000
6
Boston,
Revere
Bank.
Aug.
1,1894
F.
&
A.
600,000
5 gMay 1,1895
450,000
5 & 6 M. & N. Boston, Bank Redemption,
do
do
May 1, lr9 5
100,000
4
do
do
1896-’97-’ 98
261,860
5&6
City Treasury.
May 1, 1905
125.000
37s M. & N.
Boston, Bank Redemption. Feb. 1,1900-1909
500.000
do
do
M. & N.
Nov. 1,1892-1906
450,000
6
do
do
Aug. 1,1899-1905
550,000
F. & A.
6
May 1,1908-1909
200,000
July 1,1893
400,000
J. & J. Boston, Merchants’ Bank
6
do
do
July 1,1891
300,000
J. & J.
6
do
do
J. & J.
July 1,1905-1906
100,000
6
1898 A 1903
85.000 312 & 4 A. & 0. Galveston, City Treasury.
1393-1909
do
510,100
M. & S.
8
1920-1925
818,400
J. & D. New York or Galveston.
5
1902
N.
Y.,
Bank
of
New
York.
417,000
J. & J.
6
1890-1906
City Treasury.
887,000
5 & 6 Various
Suffolk
Bank,
Boston.
Jan. 1, 1891
500,000
J. & J.
6
City Treasury.
Jan. 1, 1893
300,000
J. & J.
6
do
Jan. 1, 1897
1,000,000
J. & J.
6
Town Treasury.
10 to 25 years
1,250,000
41s J. & J.
do
$10,000 yearly
60,000
J. & J.
6
do
Jan., 1900
203,000
J. & J.
6
1888 to 1905
159,000
6 & 7 Various First Nat. Bank, Hoboken
do
do
Oct.
1.1892
119,500
A.
&
0.
7
1892 to 1894
do
do
43,750
6 & 7 Various
do
do
1890 to 1903
91,500 5, 6, 7 Various
do
do
1898 to 1901
636,000
5 & 6 Various
do
do
1902 to 1910
75,000
5 & 6 Various
City Treasury.
1887 to 1889
203,000
3 to 5 Various
Oot. 1,1889
do
271,000
A. & 0.
6
Jan. 1,1900
do
250,000
6
J. & J.
Jan.AApr.l,
do
226,500
A. & O.
7
City Treasury.
Jan. 1, 1889
155,000
Jan.
6
Jan. 1, 1897
500,000
J. & J. N. Y., Winslow, L. A Co.
6
July 1, 1893
do
do
300,000
7*3 J. & J.
July 1, 1893
do
do
300.000
7*3 J. A J.
July 1, 1894
do
do
300.000
7*3 J. A J.
200,000
do
do
July 1, 1895
7*3 J. A J.
Jan. 1, 1899
109,500
do
do
7*3 J. A J.
984,000
J. A J. N. Y., Merch. Ex. N. Bank. Jan., 1889 to 1909
6
1899 to 1913
do
do
3,329,000
Various
7
,
Feb. 1,1913
do
do
200,000
5
July
1,1913
do
do
517,000
J. A J.
7
1891-1892-1906
do
do
5,299,500
Various
7
June 8, 1900
do
do
125,000
J. A J.
7
May 1,1897
do
do
500.000
M. A N.
7
1889-1890
do
do
558,000
7
Various
1889 A 1900
do
do
100,000
Various
7
Jan., ’98 to 1900
do
do
150,000
J. A J.
7
July, 1889
400,000
do
do
J. A J.
7
1889
do
do
41,000
Various
7
1905-19’
900.000
do
do
7
Various
Demand.
975.000
5>2
Feb. 1,1909
1,353,000 "
6
f . & ' a . N. Y., Merch. Ex. Nat. B’k.
1910-191t
600,000
do
do
5 A 6 Various
1904
1,000.000
6
New York, Ninth'Nat. Bank 1895 to ’98 A 1901
390,000 6, 7 & 8
May
1,1893
250,000
do
do
....
8
.
lie s M o in es, l a . —Assessed value of property $11,500,000, which is
about 20 per cent of true value. Population in 1870,12,035; in 1880.
22,400: in 1887 (estimated), about 45,000. Sinking fund Sept, 1887,
amounted to $40,000.
D etro it, M ic b .—There are also $10,000 House of Correction bonds
due 1893. Assets in sinking fund July 1,1885, $838,238; net city debt,
$12,261. The population in 1870 was 79,577; i n ’80,116,340; in 1883,
130,000. The value of water works 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 i i 1836 about 175,000.
Valuations (based on true value) and tax rate have been:
Years.
Real Estate.
Personal.
Total.
Tax Rate
1834...........$82,793,115
$27,928,880
$110,721,995
$11*41'
1885
. 87,536,645
28,713.300
116,249,945
10*77
1886
100.020,991
33,427,589
133,448,580
10*82
E lizab eth , N. J .—Default was made in interest February 1,1879
Suits on bonds are pending. Old unadjusted bonds and loans are
$2,592,739. Total bonded and floating debt July 15 1885, $4,264,640. A proposition to issue 4 per oent bonds at 50 per cent of the face
value o f old bonds was made, and a considerable 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 lollows: In 1882, $12,182,035, rate, $ 1*20; 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 1836 to be 32,600. (V. 44,
p. 211.)
E v an sv ille) I n d .—There was default in payment of interest from
April, 1883. In 1887 the old debt was nearly all funded into the several
issues of bonds above given.
Years.
Real Estate.
Personalty.
Tax.
Debt.
1884
.......... $13,527,090
$6,519,820 $10 On
$1651.000
1885
........... 13,666,645
6,682,895
10 00
1,651,000
1886
.........*---------- 17,273,310----------'
1887
.......... 15,184,693
6.239,810
16 6623
2,145,000
- ( V . 43, p. 607; V. 44, p. 335 ; V. 45, p 112.)
P all i ll ver,” M ass.—1
The sinking funds amounted to $381,339 Jan. 1,
1837. Population in 1885, 56,363; 48.961 in 1880; 26,766 in 1870.
Valuation in 1885, $13,815,275.
Fitclib u rg, M a ss.—Population 12.270 in 188J; 11,260 in 1870.
Assessed valuation of real estate (about cash value) in 1388, $3,423,675; personalty, $3,071,836; tax rate, 18*2 >per $ t.000; in 1887, real,
$3,820,075; personal, $3,125,313; tax rate, $17*10.
Galveston) T e x a s.—Assessed value of real and personal property,
1886, $21,043,509; tax rate per $1.000, $15*00. 1885, valuation, $18, 588,196; tax rate $15*00. In April, 1882, the Galveston County 10 per
cent bonds, were called in and 6 per cents issued instead. Population
in 1870.13,87 2; in 1880. 22,218; 1886, estimated, 42,000.
H a r t f o r d , C on n .—Total city debt, April 1,1887, $2,734,882; net,
after deducting resources, $1,910,172; net town debts, Oct. 1, 1837,
$1,191,346. Assessed valuation in 1836, $15,700,000; in 1885, $45,898,365. Population, 42,553 in 1880; 37,743 in 1870.
H o b o k e n , N. JT.—The total debt May, 1887, was $1,279,187. 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 valua
tions in 1886-7: Person il, $1,414,005 p real estate, $15,326,700; tax
rate, $27*00.
H o ly o k e . M ass.—Bonds all coupon, but can be registered. Total net
debt, $764,500. Valuation, 1885, $16,135,525; tax rate, $17*20. Valu
ation in 1887, $18,122,580; tax rate. $17*00. Population, 21,915 in
1880; 10,733 in 1870; 33,000 in 1887.
In d ia n ap olis.—The School Board is a distinct organizat’n and levies
its own tax ($2 20 for 1884), which is included in tax rates. There
are a few other small issues amounting to $50,000. Ponulation, 75.056
in 1880; 8.244 in 1«70. Valuation and tax per $1,000 have been:
Years.
Real Estate.
Personalty.
Total.
Tax.
1883 ................. $39,335,860
$13,792,290
$53,128,150
$11*20
1884 ................. 40,149,950
13,891,65 0
54.041,600
12*20
Jersey C ity.—One oi the main causes o i past trouble in jersey City
finances has been the failure to collect back assessments and the large
amount of railroad property exempt from taxation, but these matters
are being remedied and RR. property is bearing a share of the taxation.
i o
INTESTO Rb’
SUPPLEMENT.
f"Völ . X L V .
Subscribers w ill confer a great favor by giv in g Im m ediate notice ol any error discovered In these Tables.
INTEREST.
Principal—When
Size or
Amount
Date of
DESCRIPTION.
Due.
par
outstanding. Rate.
When
Where Payable and by
Bonds.
Payable
Whom.
Value.
For explanations see notes on first page of tables
Kansas Oity, Mo.—f Continued.) —
Floating debt bonds........ - .................... - .........
Railroad bonds....................................................
School bonds...............................- - - ....................
Lawrence, Mass.—Sewer loan............... ........ —
Funded debt.................. .........................- .........
do
Water loan............................................................
Long Island Oity—General bonds.....................
Tax or revenue b o n d s ..............................- .......
Louisville, K y.—Water works...............................
For improvement of streets............. .
For municipal improvement............................ .
Re-constructing street.......................................
Public buildings and institutions.................. .
Public school and school houses.....................
Sewer bonds...................... .................................
do
.......................................................
Elizabeth <fe P. Railroad..................... .............
Wharf property................................................
Jail bonds...........................................................
For old liabilities...............................................
do
do
............................. ............—
do
do
.............................................
do
do (half are 10-40 and half 20-40
Louisville, New Albany & St. L. Air Line RR
Road bed, Louisv. ,Cin. & Lex. R R .................
1875
1885
$500<tec.
1884
1862 to ’75 5000&C.
1881 to ’85 10,000
l8 7 3 -’75 500 «fee.
Various. Various,
500
1883-’86
1859 to ’67 1,000
1866 t o ’67 1,000
500 &c.
1883
1,000
1873
1871 to ’73 1,000
1853 t o ’69 1,000
1,000
1868
1,000
1871
1868 <fe’73 1,000
’54,’62,3,8 1,000
1,000
1869
1871 t o ’74 1,000
1,000
1868
1886
1,000
1880
1.000
1871
1871 to ’73 1,000
1,000
1851 t o ’63
1862 t o ’ 84 Large.
Large.
1882
1,000
1882
1882 & ’83 1,000
1871 t o ’85 Large.
1,000
1870
1883 & 84
1883
1870-’3 -’5 Large.
1,000
Various
Various 500 <&o.
1,000
Various
1,000
1884
1869-’85
1872-’74 100 «fee.
1872-’74 100 &C.
100 &c.
1881
....
1867 t o ’68
1867, ’8, ’9 500 &c.
1,000
1870
Lowell, Mass.—City notes (various purposes)...
Bridge notes........................................................
Bridge bonds.......................................................
Sewer b o n d s.......................................................
Water notes.................. .................................... .
Water bonds....................................................... .
Sewer notes................................. ...................... .
Bridge notes............................... ....................... .
Lynn. Mass—Water notes.................................. .
Water bonds....................................................... .
Funded debt. , ....................................................
School Houses....................................................
Enginimfpuse and sewer bonds.......................
Manchester?N. R .—City bonds............................
(Pater bonds ($100,000 each year).................
do
do
do
.................
Bridge bonds.....................................................Memphis, Tenn.—School and pavin g bonds.......
Post bonds..........................................................
Funding loan, gold............................................
Mississippi River Railroad bonds..................
1,000
Ì857
Endorsement Memphis & Little Rock R R ....
1,000
1877
Compromise bonds, coupon (Flippen)............
1,000
1883
New compromise bonds....................................
500 <fec.
1861
Milwaukee, Wis.—Re-adjustment bonds............
1,000
1871
General oity bonds— .....................................
1,000
1876
do
do
(not liable to be called in
1885-6
do
do
..........................................
1,000
Bridge bonds....................................................- . 1882-’83
1872
1,000
Water bonds, coupon........................................
1872
10,000
do
register»«!...................................
do
co u p o n ...... ................................. . 1883-’86 ’7
1,000
Waterworks refunding ................................ . 1883-’84
Minneapolis, Minn.—City oonds....................... . 1870 to ’75
City bonds.......................................................... . 1«71 t o ’81
do
($366,000 due 1912 are red. 1902) . 1881 to ’85 1,000
1886-’87
1,000
do
.........- ..................................................
500
1881
Mobile—Funding bonds.......................................
Nashville. Tenn.—Various oity bonds............ c * 1870 to ’81 ! 100 «fee.
*
1885
1,000
Municipal Bridge bonds..........................
Waterworks($50,000 due yearly after I907)c
1 1,000
. 1868 t o ’86 , 1,000
Public school bonds.
1875 I 1,000
) 1878-’80 I 1,000
Sewer and improvement bonds (local liens). . ’71-’79-’86 1,000
j 1867-’86
1,000
. 1877-’78
1,000
Tax arrearage bonds..
.
1879
t
o
’85
1,000
do
do
1886
do
do ...
1885
Funded debt bonds__
1886
1,000
Annexation bonds, reg
1886
City ta x.......................
. 1875-87 Various.
1876
1,000
Water bonds,
. 1867 t o ’76 1,000
do
. 1872-’74
1,000
do
1884
5,000
do
. 1881 ’ 87
1.000
1895
J. <fe J. New Y jrk, Ninth Nat. Bank
$142,500
8
1890 & ’97
do
do
218,000
7
1905
60,000
.T. '& ' j .
5
July, 1901
Lawrence or Boston,
300,000
J. & J.
4
1887 to 1894
Various Boston, Tremont Bank.
6
459.000
1891-95
Lawrence, Maas.
J. & D.
4
150,000
Oct. 1 ,’90. to 1906
do
do
A. <fe O.
1,300,000
6
in instalments.
N. Y. City & L. I. Ci-y.
911,500
6 & 7 Various
1889 to 1903
do
do
433,500
5 & 6 ¡Various
18891897
Various N. Y., Bank of America.
6
698,000
1896-1897
Louisville.
Various
6
190.000
1923
New
York
City.
J. <fc J.
4
1,500,000
July 1, 1903
J. <fe J. N. Y., Bank of America,
600,000
1891, ’92 & 1903
do
do
Various
519,000
7
1889
Various New York, U. 8. Nat. Bank.
6
17,000
July, 1898
J. <fe J. Louisville, City Treasurer.
81,000
.Tune, 1901
J. <fe D. N. Y., Bank of America.
423,000
1888 & 1903
do
do
Various
1,691,000
1888 to 1898
Various Louisville and New York,
159,000
Oct. 1, 1898
do
do
A. «fc O.
6
133,000
1889
do
do
J. <fe D.
6
51,000
1894 <fe 1901
do
do
7
Various
513,000
1911
N. Y., Nat. Bk. of Republic.
500,000
5
May 1, 1920
M. & N. N. Y., Bank of America.
1,000,000
5
Sept., 1891
N. Y., U. 8. Nat. Bank.
& 8.
481.000
7
J. <fc J. N. Y., Continental Nat. Bk. July, 1901 & 1903
350,000
7
1893
New
York
and
Louisville.
Various
333,000
6
1887 to 1894
City Treasury.
469,300 4 to 6 's Various
1891
and 1892
Boston,
M.
&
N
200,000
4
Nov. 1,1892
do
M. <fe N.
4
120,000
1887
to 1903
do
4
382,500
Various
Dec.,1887 to 1911
City Treasury.
Various
537,000
1890
Boston.
M. <fe N.
1,300,000
6
10 per ct. annually
City Treasury,
176,500
4
Various
10 per ct- annually
do
4
77,000
Various
1890
City Treasury.
Various
6
100,000
18901917
Boston, Bank Republic,
1,219,000 3*2 to 6 J. & J
1890-1897
do
do
595.000
5 & 6 Various
18S°-1893
57,000 3*a&4 Various City Treas’ry & Bk. Repub.
Nov.. 1837-1906
do
do
246,000 3 8? <&4 Various
1883 to 1911
4 & 6 V arious City Treasury <&Boston.
310,000
July 1,1890 & ’ 95
Suffolk Bank, Boston.
6
200,000
J. «Ss J.
1892-’ 97-190?-’07
4 & 6 J. <fe J.
City Treasury,
400,000
July 1, 1911
do
J. <& J.
4
60,000
1873 to 1902
®
f
Memphis.
6
1873 to 1900
-eg
2o
1
Nov., 1900
M. & N.
S
*
|o
j
July, 1872
Charleston, 8. C.
<fc J
7
H
1
1907
<& J N. Y., Nat. Park Bank,
6
1913
do
do
3-4
2,400,000
June
1,1891
J. & D. M11.& N.Y., Morton B. & Co.
77,500
5
Jan. 1,1901
do
do
J. <fc J,
182,000
7
June
1,1896
do
do
J. <fe D,
98,000
7
J u ly l, 1905&1906
do
do
J. <fe J.
4
285,000
July
1,1902
do
do
J. & J.
4
61,000
Jan. 1,1902
do
do
J
321,000
7
Jan.
1,1902
do
& J
do
899,000
7
1903 & 1906-’07
do
do
J. & J
4
608,000
1903-1904
do
do
J. & J.
4
255,000
1888-1905
Various New York, Nat. Park Bank,
610,500
8
1893-1902
do
do
422,000 5, 6, 7 Various
1906
to 1915
do
do
Various
4-4
*2
2,1« >5,000
1916 & 1917
do
do
1,095 000
4-4*2 Various
Jan.
1,
1906
New
York
and
Mobile.
J.
<
&
J.
2,250,000 4 to 5
1887 to 1903
Various New York and Nashville.
6
1,395,600
Oct.
1.
1905N.
Y.,
Chemical
Nat.
Bank,
A. & O.
200,000
5
1907-1915
do
do
6
450,000
1891
&
1896
Newark,
City
Treasury,
Various
7
550,000
1887 to 1892
do
do
580,000 4*2, 5, 7
July 1, 1895
J. ’& J. Newark, Nat. State Bank.
7
400,000
1909 & 1910
do
do
5 & 6 Various
1,200,000
1893 & 1906-’09do
do
2,450,000 4,4*2 to 7 M. & 8.
189 Ito 1909
do
do
Various
3,497,000
7
1887 & 1888
do
do
F. <& A.
476,000
7
1889-’95
do
do
F. & A.
5
1,114,000
July 1,1896
do
do
97,000
4*2 J. & J.
1895
do
F. & A
do
232,000
5
1906
4
126,000
1906
4
158,000
1891 to 1910
City Treasury,
363,000 3*2 «Ss 6 A. & O.
1900
to 1904
do
A.
<
fe
O.
5
100,000
1888 to 1909
do
A. & O.
340,000
6
1888
to 1909
do
A.
<
fe
O
150,000
7
Oct. 1, 1894
do
A. & O
4
100.000
1888
to 1906
do
3*2-6 A. & O
13 *.000
Collections in 1886 were better than in 1885 by about $150,000, and
the city also received $220.000 from taxes on railroad property col
lected by the State. Population in 1880,120,722. against 82,546 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.
$4,664,390
$29 40
1883 .................................. $58,287,892
1884 ................................ 61,571,512
4,564,683
32 80
1886’. .................- ................ 61,894,739
4,985,200
29 40
The value of railroad property, not included above, is about $25,000,000, which is subject to a tax rate of L per cent for city purposes.
K a n s a s C ity , M o .- I n 1885 assessed valuation was $31,678,520
and tax rate 15 mills. In 1886 real estate valuation was $36,833,550;
personal, <fec., $9,553.240; tax rate per $1,000, $14 00.
L a w ren ce,M ass.—Total debt, $1,764,000. Sinkingfunds. $325,534.
Tax valuation in ’85, $27.144,050; tax rate, 16-60; in ’86, $27,165,590;
tax rate, 16-40. Pop., in 1884 45,000; 39.151 in ’30; 28,921 in ’ 70.
L o n g Is la n d C it y .—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 in each year are chargeable on the uncollected
tdxes and water rents of a previous year. The assessed valuation in
1885 was $7,299, L70 on real estate and only $37,500 on personal
property; the rate of tax was $40 40 per $1,000. For State purposes
the valuation was increased to $10,000,000. Real valuation about
$25,000,000. Population, 25,000.
L o u isv ille .—The funded debt, Jan. 1,1887, exclusive of loans paya
ble by railroads, was $9,352.000, against $9,616,000 Jan. 1,1886. The
sinking funds on Jan, 1,1887, amounted to $4,373,831. Population by
Census of 1870 wa3 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 rate per $ 1,000, $21 00, in 1884, $63,927,077, tax
rate, $2100; in 1885, $62,763,461, tax rate $24 80; in 1886, valuation,
$64,405,515; tax rate, $20 40.
L o w e ll, M a ss.—All the notes held by savings banks. Total debt
Deo. 31, 1886. $3,162,400, of which $1,837,030 was on account of
waterworks; sinking funds, $887,269, $517,994 being for water loans.
Population 59,475 in 1880; 40,928 in 1870; 75,000 in 1884. Assessed
valuation; in 1887, real estate, $41,322,794; personal, $15,426,459^
t&isi rate $ 5 70«
*
L y n n , M a s s .—Valuation 1887, real estate, $24,491,440; personal,.
$6.279,206; tax rate, $18-80; in 1884, $27,548,581; tax rate, $18-40.
Population, 28,233 in 1870; about 45,000 in 1883.
M anchester, N. H . —Valuation in 1835, $21,137,464; tax rate,
$17 50 per $1,000. Valuation in 1887, $21,90 ">,476: tax rate, $17.
The net proceeds from the waterworks more than meets the annual
interest charge Population, 32,630 in 1880; 23,536 in 1870.
M em p h is, T e n n .—The city was in default for interest after J an. 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 3,1883, new compromise bonds are issued,
bearing 4 per cent till 1889, and 6 dercent thereafter. The total debt
wtien funded will be nearly $3,000,000. In 1884 valuation of real and,;
personal property, $13,499,325; tax rate, $23 50. Population in 1870,
40,226; in 1880, 33,592; in 1884, 62,335.
M il wauk.ee, W i s .—The city cannot issue debt beyond 5 per ct. of its
average assessed valuation of real and personal property for five years. In
1884 valuation was $74,951.750; in l885real estate, $61,445,921 and per
sonal, $17,415,445; in 1886, $32,641,743. Sinking funds are provided,
and all old issues except th8 general bonds due 1896 may be called in
and paid by sinking fund; holders were misled as this was not stated
in the bonds. Population, 71,440 in 1870; in 1885 (estimated), 160,000.
M in n e a p o lis , M in n .—Total debt March 1 ,’ 87, $3,739,000; sinking
fund. $232,738; tax valuation in 1886-87, $33,008,856 real estate and
$16,582,906 personal—total, $99,591,762; tax rate, $L7 10 to $19 OO
in 1885, $77,500,000; in 1884, $74,308,711: tax rate 1885, $20 00.
Population, 46,887 in 1880; 160,000 (estimated) in 188a.
M o b ile .—Valuation oi real and personal property in 1883, $lo,3a0,738; in 1884, $13,578,347, in 1885, $13,763,822. Population 35,000 in
1885; 31.297 in 1880: 32.034 in 1870.
N ashville, T e n n .—Tot il bonded indebtedness Sept., 1837, was
$2,070,000; assessed valuation of all property in 1887 was +>27,214,459;
taxrateper $1,000, $15; in 1881 valuation was $15,219,575. Popula
tion, 43,350 i n ’ 80; 25,865 in 1870.
.
..
. n.
N ew a rk .—The bonds in the first line m the table are payable out of
No vem ber,
1887.]
CITY
SECUKITIES.
11
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f a n y error discovered in these T a bles.
INTEREST.
Principal—When
Date of
Size or
DESCRIPTION.
Amount
par outstanding.
due.
Bonds.
When
Where payable and by
Rate.
Value.
payable
Whom.
For explanations see notes on first page of tables.
New Brunswick, N. J,—
7
1867-69
$ ....
M. & N. N. Y., Ninth Nat. Bank.
$180.000
Water b’ds. of ’ 64,’ 73,’ 74 ($10,000 only are 6s) 1864--1874
178,500
6 & 7 M. <fe N. N Bruns’k Nat. Bank, N. J.
....
1S73
j. & J.
City improvement bonds....................................
47,500
7
do
500
Sinking fund bonds............................................. 1881-82
M. <& 8.
47,000
5
do
500
FM AS
do
52,000
6
do
do ............................................ 1882-85
500
di
do
do ............................................. 1885-86
6
J. & J.
109,500
....
Commissioners of streets and sewers..............
M. <fe N.
do
484,100
7
do
do
M. <fe N.
...............
360,000
6
do
1,000
New Haven, Conn.—Sewerage..............................
1871
A. <& O.
City Treasurer.
499,000
7
1,000
City bonds (10-20 b onds)..................................
1877
J. <fe J.
5
do
150,000
1,000
1883
Sewerage bds. (pay’le $15,000 y ’rly from ’95).
3ig F. & A.
do
150,000
New Orleans—Consolidated debt......................... 1854 to ’84 1,000
1,651,000 5, 6 ,7 J. <& J.
New Orleans.
Consolidated debt, extended............................
1,000
J. <fc J.
do
6
2,649,000
Ten year certificates to fund coupons.............
1883
J. & J.
2,127,360
do
6
Railroad debt (all extended except $28,000).. 1854-75
1,000
Various
do
397,000
6
Seven per cent funding loan of 1869...............
1869
do
567,750
6 & 7 M. & S.
Seven per cent funding loan of 1870...............
1870
....
do
375,750
6 & 7 J. & D.
Jefferson City (debtassumed) extend’d ...........
1857
Various
do
41,500
6
....
Premium bonds (in exchange)..........................
1875
do
7,504,820
5
....
1869
Water Works ($70,400 extended).....................
do
82,400
5 & 6 J. & J.
Other old bonds ($305,500 extended) ............. 1857 to ’73
do
378,100 6 to 10
Newton, Mass.—City bonds and notes.................. 1867 t o ’ 86 l.OOO&o
City Treasury.
415,200 31« to 61« Various
New York—Accumulated debt bonds, city.......... 1869-’70
100
M. <fe N. '
1,300,000
7
100
Accumulated debt bonds, county..................... 1869-’70
M. & N.
1,200,000
7
Armory bonds......................................................
1884
500
M. & N.
1,172,000
3
Assessment bonds........ ...................................... 1884 t o ’87
500
3,368,000 3, 31« M. & N.
Assessment fund stock....................................... 1868 t o ’ 83
500
1,393,650 4,5,6 & 7 M. & N.
Additional new Croton Aqueduct stock............ 1872 to ’77
500
O
1,331.300 5, 6 <fe7 M. <fc N.
Croton water stock............................................. 1847 to ’52
100
Q .-F .
321,400
5 &6
§•
Additional Croton water stock.......................... 1871 to ’87
500
5,759,000 3 i« to 6 ,7 M. & N.
O
Additional water stock, red’m’ble after 1913. 1883 t o ’84
500
445.000
3, 31« A. & O.
Additional Water stock......................................
1885-7
500 15,447.000
s
3, 31« A. & O.
©
Croton water main stock................................... 1871 t o ’81
500
5,196,000 4 ,5 ,6& 7 M. <& N.
1866
100
Croton Reservoir bonds.....................................
Q .-F .
20,000
-6
«3
Central Park fund stock..................................... 1856 t o ’58
100
Q .-F .
674,300
5 &6
SI
..................................... 1865 t o ’ 71
do
do
100
Q .-F .
1,766,600
6
dS
§M
City Cemetery stock...........................................
1869
100
M. & N.
75,000
7
City improvement stock..................................... 1869 t o ’78
500
7,977.515 5 ,6 & 7 M. <& N.
- *^.£3
do
do (cons., $687,803 red. aft.’96) 1876 to ’80
<Uao
500
5 & 6 M. & N.
701,419
City impr. stock (cons, st’k), cp., exoh. for reg.
1874
500
820,000
6 g. M. & N
City Lunatic Asylum stock................................ 1869 t o ’70
100
700,000
6 & 7 M. & N
w©
City parks improvement fund stock................ 1871 t o ’ 80
500
4,799,000 5 ,6 & 7 M. <fe N.
Consolidated stock, county, coup., ex. for reg. 1871 & ’72
500
8,885,500
6 g- J. «fe J.
strg
do
city,
do
1871 & ’ 72
500
4,252,500
6 g. J. «fe J.
do
dock bonds
do
1871
500
1,000,000
6 g. J. «fe J.
a«
do
city pks. impr. fd. st’k, do,.
1872
500
862,000
6 g. J. «fe J.
do
red. aft. 1908, op. ex. for rg.
1878
500
6,900,000
5 g- M. «fe N.
M,f
do
city, coupon exch. for reg.. 1874-’75
500
1,564,000
6 g. M. «fe N.
do
city, (A)................................ 1872 to ’74
500
2,455,000
6 & 7 M. <fc N.
■Ea
do
county (A & B)....................
1874
500
J. «fe D.
1,680,200
7
do
city (B & C).........................
1874
500
J. «fe D.
6,324,700
7
£■§
do
city (D E «fe F )..................... 1876-’77
500
1,858,349
5 & 6 M. «fe N.
0
do
city ( 6 K L & M)................ 1877 to ’84
500
4 & 5 M. <fc N.
941,135
«J
®«
do
city.......................................
1880
500
4
M. <& N.
2,800,000
do
consol, st’k (Riker’s Isl’d)..
1884
500
M. «fe N.
180,000
3
do
(HarlemRive Bridge).. ..
1886
500
1,300,000
M. «fe N.
3
Dock bonds ......................................................... 1870 to ’84
500 11,553,000 3 to 7 M. «fe N.
Consol, stock (Metropolitan Museum of Art)..
1884
500
M. «fe N.
25,000
3
Fire Department stock ..................................... 1869-’70
100
M. «fe N.
521,953
6
O'”
Gansevóort Market cons, stook, rev. bonds...
1887
500
170,000
M. A N.
3
Market stock......................................................... 1867 t o ’69
100
296,000 6 & 7 M. «fe N.
to
Museums of Art and Natural History stock. 1873 t o ’81
500
958,000 4 ,5 & 6 M. «fe N.
flOi
HH
N. Y. City bds.for const.of bridge ov.’HarlemR. 1879 to ’84
500
499,500 3 ,4 & 5 M. «fe N.
N. Y. Bridge bonds.............................. ......... . . . . 1869 t o ’ 75
100
M «fe N. i
1,500,000
6
u ’s
do do consol, stock, redeem, after ’96........
1876
500
500,006
M. «fe N.
6
do do $500,000 a f.’96,$1,421,900 af 1900. 1876 t o ’80
500
1,921,900
Q .-F .
5
jsfi-l
Do
do do $750,000 af 1903, $416,666 af. 1905. 1880 to ’83
500
4 & 5 M. «fe N.
1,166,606
Ninth District Courthouse bonds.....................
1871
500
300,000
Hr-I
M. <& N.
7
Normal school fund stock.................................. 1871 <&’72
500
M. «fe N.
4><m
200,000
6
N. Y. Co. Courthouse st’k, Nos. 1, 3, 4 & 5 __ 1862 to ’82
100
1,496,000 4,5 ,6 & 7 M. «fe N.
3®
' New York County repairs to buildings stock..
500
1870
20,600
6
M. «fe N.
N. Y. and Westchester Co. improvement bonds
500
1871
30,000
M. «fe N.
6
Public school building fund stock..................... 1871 t o ’74
500
636,000
M. «fe N.
6
m
Bchool House bonds ........................................... 1884-’ 85
500
802,845
M.
«fe N.
3
Street improvement bonds................................. 1869 & ’70
100
606,900
M. <& N.
6
Soldiers’ bounty fund bonds..............................
Ü
1864
100
2,000,000
M. «fe N.
6
do
do
No. 3 ....................
1865
100
745,800
M. <fc N.
7
Soldiers’ bounty fund red. bon ds, No. 2 .......... .
1865
100
376,600
M. «fe N.
7
(3
Tax relief bonds, No. 2, coup. exch. for reg__
1870
500
3,000,000
M. «fe N.
7
Third District Court-house bonds..................... 1874 to ’77
500
398,000
5 & 6 M. «fe N.
Water stock of 1870............ .............................
1872
500
475,000
1
6 & 7 M. «fe N.
Debt of annexed territory of Westchester Co.
500
690,000
1
7
Various
Cons.stock, Improvement Morningside Park..
1887
500
50,u00
M. <fc N.
3
l
1892-1904
1887-1900
1887-92
Sept. 1, 1901-1902
1902-1903
1905-1906
1894-1898
1898-1906
Oct. 1. ’91<fel901
July 2 , 1887-’97
1895 to 1904
1892 to 1934
1892 to 1923
Jan. 1. 1893
1894 to 1923
1894 <&1922
1895 «fe 1922
1922 «fe 1923
When drawn.
1899 <fe 1923
1892 to 1923
1887 to 1914
Nov., 1888
Nov., 1888
Aug. 15, ’94,1904
Nov. 1,1889 to ’ 92
1903 <&1910
Aug. 1, 1900
Feb. 1,1890
1891, ’ 99 <fe 1904
Oct. 1, 1933
O ct.l, 1904, ’ 5<& 7
Nov. 1,1900-1906
Aug. 1,1907
July 1, 1898
Juñe 1,1895
Aug. 1,1888
Nov. 1 ,1889«fe ’92
1900 <fc 1926
Nov. 1,1896
Aug. 1,1889
1901-1904
July 1. 1901
July 1.1901
July 1,1901
Jan. 1,1902
Nov. 1, 1896
Nov. 1,1928
Nov. 1,1894
Deo. 1,1896
Dec. 1,1896
May 1,1916, <fe26
Nov. 1,’89, ’97’99
Aug., 1894
Nov. 1, 1910
Nov. 1, 1906 <&’7
Nov. 1,1901-1917
Nov. 1,1905
Nov. 1,1899
Nov. 1, 1907 <fc *3
May 1,1894 <fe ’97
May 1,1903
Nov. 1,1891
Nov. 1, L905
May 1,1926
May 1,1926
May 1,1928
Nov. 1,1890
Nov. 1,1891
Nov. 1 , 1888-’98
Nov. 1,1888
Deo. 1,1891
Nov. 1,1891
Aug. 15,1894
Nov. 1,1888
Nov., 1888-’90
Nov. 1,1895-’97
Nov. 1,1891
Nov. 1,1890
Nov. 1,1890
Nov. 1,1902
1888 to 2147
Nov. 1,1908
tlie sinking fund of 1864, which amounted Deo. 31,1886, to $550,471; i n ’ 85, $123,929,268; tax rate $25-40; in ’ 86, $127,7 5,353, tax rate
ublic school bonds out of public school fund, $488.265: Clinton Hill $20 20; in 1886-7, $i25,096,250. tax rate $20 20. Ascheme for settling
onds by sinking fund $263,560. The total amount in the sinking funds the debt by a bond premium drawing plan is in practice, aud drawings
on Dec, 31, 1886,_was $2,622,063. The Aqueduct bonds are not a direct take place Jan.3l, Apr.15, July 31 and Oct.15 Popul’ u iu ’ 80,216.090.
liability of the city of Newark. Real and personal property have been
N e w to n , M a s s .—Sinking funds, Jan. I, ’87, $237.973. In 1884
assessed at about two-thirds of true value as follow s: 1884, real estate, valuation $27,814,561; 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, $31,016,930; tax rate, $14 40 per $1.030. Valuation in 1887, $32,293,real estate, $74,189,110; personal, $18,730,160; tax rate, $19 30. Popu 657; tax rate, $15"80. Popula. 19,759 in ’ 35; 16,991 in ’ 80, 13,825 in ’70.
lation in 1870, 105,059, against 136,508 in 1880, and 155,000 in 1835.
N e w York. City —The total debt of New York, January 1.1837, was
N ew B ed ford , M a ss.—Population, 35,000 in 1886; 21,320 in $125,982,736; the amount of sinking funds, $41,205,470. The follow
1870. Assessed valuations in 18-6 were $16,7*8,900 real estate and ing statement shows the details of funded debt and the amount in the
$15,416,696 personalty; tax rate, $16 per $ l,000.
city sinking fund at the dates named:
N ew B r u n s w ic k , N. J . -There are also $50.^>00 7s and $14.903
Description.
Jan. 1, 1885.
Jan. 1,1886.
Jan. 1,1887
5s, due 1888. The fiscal year ends March 3 <. On March 31, 1837, the Total funded debt......... $126,371,138
$125,475,240
$12:-,982,736
valuation of real estate taxable was $1,062,455 ; personal. $1,325,850; Sinking fund................. 34,823,735
36,113,814
41,205,470
tax rate, $4-14 per $1,003. The assessed valuations are only about one
third of the true value of real property. The sinking funds March 31,
Net funded debt....... $92,047,403
$89,361,426
$84,777,266
1887, amounted to $102,590. The city finances are now under able and Revenue bonds...............
2,358,825
3,670,525
5,618,368
•conservative management, and the actual net debt is decreasing. On
April 1 the statement was as follows for three years: In 1885, net debt
$93,031,951
$90,395,634
Total net debt.......... $9 4,406,228
Jess cash and sinking funds, $1,561,100; in 1883, $1,526,134; in 1887,
.'he population of New York, by the U. S. Census, in 1870 was 942,292 ,
The
$1,508,882.
d 1,206,299 in ’80. Jan. 1, ’ 65, and since Jan., ’72, the val ation,rate
and
N ew H a v e n , C o n n .—Bond funds, $134,784. The city made a of taxation, and net funded debt at end of year have been as follow s:
special loan of $75,u00 to the New Haven <&Derby RR., and guaranteed
T a x p $1,00 0
Real
Personal
Net Debt,
$225,000 of its 2d mort. bonds. Popula. in 1870,50,840; in 1880,62,882. Years.
State. City.
Estate.
Deo. 31*
Estate.
Assessed valuat’n (about 80 per cent of value), tax rate per $1,000, «fee., 1865...........$427,360,384 $181,423,471 34 96 $24 94
$35,973,597
.have been:
306,949,422
1872......... 797,143,665
5 20 23 81
95,467,154
Years. Real Estate. Personalty. Rate of Tax. Tot. D’bt. Skg.Fds &c. 1874t.. . . 881,547,995
6 65 21 35
272,481,181
114,979 970
1884....$36,293,114
$14,271,224
$1100
$714.000
.....1 8 7 5 ...... 883,643,545
217,300,154
7 27 22 13
116,773,721
1 8 8 5 .... 42,000,000
16,000,000
1100
1-19,000 $114,078 1876
892,428,165
6
51
21
49
218,626,178
119,81 ,310
1 8 8 6 .... 43,500,000
17,500,000
11 0 0
799,000
134,784 1877
206,028,160
895,063,933
3 78 22 72
117.700,742
3 56 21 94
N ew O r le a n s .- Total debt June 30, 1887, was $16,862,084 1878
900,855,700
197,532,075
113,418,403
.................. 91«, 1175,934,955
3 1,380
3 43 22 37
In June, 18»2, a law was passed to issue new 6 per cent 1879
109,4-25,414
3 12 22 18
201,194,037
-40 year bonds for all old bonds other than premiums; the extended 1880
942,571,690
106,066,240
3 60 22 60
209,212,899
bonds run till 1923, but are redeemable after 1895. Certificates were 1831......... 976,735.199
102,618,301
198,272,582
»22 50—
•issued for overdue coupons to Jan. 1, 1883, and though made for ten 18«2.......... 1,035,203,816
109,388,483
197,546,495
22 90
years the certificates are payable at option. The assessed valuation of 1883.......... 1.079,130,669
95,529,909
* Less sinking fund..
t Annexed towns included.
^property, real <fepero’al, in ’84, $114,581,744; tax rate per $1,000, $ :O-0O;
.
. . .
E
1 £
ESTVESTORS’
SUPPLEMENT.
LVo l . XLY.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
INTEREST.
Principal—When
Size or
Amount
Date of
DESCRIPTION.
Where Payable and by
I>ue.
outstanding. Rate.
When
par
Bonds.
Wnom.
Pay’ble
Value.
For explanations see notes on first page of tables.
Norfolk, To.—Coupon bonds.................................
Coupon bonds of 1881.......................... . . . . . . . . .
Trust and paving, coup— . ..............................
Coupon oonds....................................................
Coupon bds., water (a mort. on water works)..
Norwich, Conn.—Sinking fund bonds of 1877...
Water loan ($150,000, 1898)..............................
Court House......................................................v.
pinking fd bds of 1878 ($100,000 water loan).
Funding.................................................................
Paterson, If.J —Sobool bds ($6,000 are 4 ^s, A&O)
Funded debt bonds..............................................
Sewerb’ ds ($130,000areM. &S. &$90,5005s).
War bounty bonds................................................
Renewal bonds, “ B,” “ C,” “ D,” “ E” and “ F” .
Philadelphia—Consolidated city loan................
Bonds ior railroad stock subsidy subscript’ns
do for water works.............................
do for bridges......................................
do for park and Centennial...............
do for war and bounty purposes___
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 (coup, or reg.)----Water loan, reg..................................................
Funded debt and other municipal bonds........
Compromise railroad bonds (coup, and reg.)..
Funded debt improvement bonds, cp. & reg .
Improv. bonds coup.or reg. (Act of May 9,’79).
Portland, Me.—Loan to Atl. & St. Lawrence RR
Loan to Portland & Rochester Railroad........
do Portland & Ogdensburg......................
Municipal—prop er............................................
Funding loan (redeemable July, 1 9 0 2 ).........
1870-’84
1881-’ 86
1872-’73
1887
1871
1877
1868 & ’ 80
1875
1878
1883
1859-’ 86
1871
1869-’82
1864-’65
1877-’ 86
1855
1855 to ’71
1859 t o ’70
1868 t o ’70
1862 to 65
1860 to ’70
1879
$100
100
100
500
100
1,000
1,000
1,000
1,000
1,000
500
500
500
500
500
50 &0.
50 &C.
50 &C.
50 &c.
50 &c.
50 &c.
50 &c.
50 &c.
25 &c.
1868 t o ’74 100 &c.
25 &c.
1878
1845 t o ’72 500 &o.
100
&c.
1863
100 &o
1882-’83
100 &e.
1885
1,000
1869-’70
500 &c.
1872
1,000
1872
1867-79 500 &o.
1,000
1887
1000&C.
1863
lOOO&c.
1872
Water loan bonds, gold, coupon.......
lOOO&c.
1874
do
do
registered.,
lOOO&c.
1876
do
do
do
1,000
1836
do
do
gold coupon
£100
1875
1000&C.
1879
do
loan of 1879................
Large.
1879
Public improvement loan, registered___
1,000
1872
Prov. & Springfield RR. bonds, guaranteed...
New High School Building certificates.......... 1877 & ’79 Various
Richmond, Ya.—Bonds, reg.,($118,000 are coup.
Bonds, reg. and coup. ($213,500 are coup.)...
New fives, 10-34 years, registered..................
Bonds...................................................................
1,000
1872
Rochester, N. Y.—To Genesee Valley Railroad .
To Roch. & State L. and R. N. & P. Railroads 1872 to ’74 lOOO&c.
Various
1872
to
’75
For various city improvements.......................
Water works loan, coupon and registered— 1873 to ’76 lOOO&c.
1,000
1875
Funding loan......................................................
5,000
1882
Consol lo a n ......................................................
5,000
1885
Local improvement funding loan....................
50 &o.
Rockland, Me.—Municipal bonds.......................
100 &c.
1869
Railroad loan ($20,000 payable yearly).......
100 &e.
1871
do
............................. .......................
100
&c.
1872
do
Notes and certificates of deposits..................
1868 t o ’79 Various
1880
Renewal bonds............................
1882-83-85
do
..........................
1837
do
..........................
1858 to ’75 Various
General purposes.......................
1,000
1868
Tower Grove Park bonds (gold).
1858 t o ’75 1,000
1870 to ’72 1,000
New water work bonds (gold)..................
1874
Refunding water pipe, special tax, gold.
3,000
1858-74
Floating debt ($900,000 are g o ld ).........
1,000
1875
500
1872
Bridge approach bonds (gold).
1,000
1885
1,000
1868
St. Louis County bonds—County Jail,
L000
1872
do
do
• General purpos
1,000
187.5
do
do
Park bonds, coi
1881
81. Joseph,t JHo.—Funding bonds............
1883
Funding bonds.....................................
$860,200
660,000
290,800
37,500
640,000
160,000
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
100,000
4,282,500
300,000
1,226,525
2,178,698
1,480,000
3,739,100
544,000
416,000
1,200,000
851,000
727,000
300,000
2,028,000
1,972,000
1,500,000
483,000
1,397.250
600,000
596,000
500,000
31,938
2,638,858
1,179,700
1,178,000
276,000
132,000
750,000
585,000
3,182,000
410,000
100,000
150,000
615,150
52,600
59,500
54,100
105,852
4,566,000
1,024,000
913,000
4,415.000
642,000
340,000
1,086,000
1,700,000
800.000
1,830,000
465,000
461,000
950,000
500,000
600,000
1,900,000
811,550
902,000
1894 to 1914
Various Norfolk and Baltimore.
6
1911,1916
do
do
A. & 0 .
5
Apr.. ’92, July,’93
do
do
A. &O.
8
Norfolk.
Sept.
1, 1917
M. & 8.
5
5 & 8 M. & N. New York and Norfolk. 1901,1914 & 1915
A. & O. Boston, Nat. Bk of Republic April 1, 1907
5
1898 & 1910
5 & 6 Various Norwich, Thames Nat. B’k.
Jan. 1,1905
do
do
J. & J.
7
do
do
April 1,1908
A. & 0 .
5
do
do
Oct. 1,1913
A. &O.
4
1887-1904
4*2 & 7 J. & D. City Hall, by Treasurer.
J. & D.
do
do
1887 to 1900
7
do
do
1887-1902
5, 6 ,7 Various
do
do
J. & D.
1887 to 1900
7
do
do
1901-1907
4,4*2 & 6 Various
J. & J. Philadelphia, by Treasurer. 1887 to 1906
6
J.
&
J.
do
do
6
)
J. & J.
do
do
S 1887 to 1903
6
J. & J.
do
do
6
5
J. & J.
do
do
6
>
do
do
> 1887 to 1905
J. & J.
6
do
do
J. & J.
5
6
1899 to 1905
do
do
J. & J.
6
1887 to 1904
do
do
4
Various N. Y., Mercantile Nat. Bk. Nov.1,’87 to 1898
7
Mar. 1, 1902&’03
4*3 M. & N.
do
do
1888-’89-1901
do
do
5, 6 g., 7 Various
July 1, 1888
New York.
J. & J.
7
1893 to ’98
A. & O. Phila., Townsend, W. & Co.
7
1908
J. & J.
do
do
6
1893 to 1912
6 & 7 Various Pittsburg and New York.
1913
4 & 5 J. & J. New York, B’k of America.
1912-1913
Pittsb’rg and Philadelphia.
5
Dec. 1,1915
Pittsburg, Treasurer.
J. & D.
4
M. & N. Bos., Maverick N.Bk.orPtld Nov., 1887,’88
6
July 1, 1897
6
J. & J.
do
do
Sept. 1,1907
M. & S.
6
do
do
1887
to 1897
m’nthly
Boston and Portland.
6
July 1,1912
4
J. & J.
Jan., 1893
5
J. & J.
Providence.
July, 1900
5 & 6 g. J. & J. Boston, Prov. and London.
July, 1900
5 & 6 g. J. & J. N. Y., N. City Bank, & Prov.
July 1,1906
do
do
5 g. J. & J.
Sept. 1,1916
3 ^ g M. & S. N. Y., Bost. or London.
July 1,1895
5 g- J. & J. London, Morton, Rose & Co
June 1,1899
4*2 J. & D.
Providence.
July 1 ,’99 & 1900
do
J. & J.
5
1892
do
J. & J.
7
May 1, 1888-89
4*2 Various Boston and Providence.
J.& J., 1887-1914
Richmond, Treasurer.
J. & J.
6
1904-1911
do
do
J. & J.
8
July, 1914-’20
J. & J.
do
do
5
1920
4
1888 to 1903
N. Y., Union Trust Co.
J. & J.
7
Feb.
1,1893
New
York
and
Rochester.
F.
&
A.
7
1887 to 1902
do
do
Various
7
Jan.
1,1903
N.
Y.,
Union
Trust
Co.
J. & J.
7
Jan. 1,1905
do
J. & J.
7
Aug.
1.1912
do
F. & A.
4
1890, redeem.’87
do
J. & J.
3
1887 to 1911
City Treasury.
4 & 5 8emi-an
1888 to 1899
do
J. & J.
6
1891
F & A.
do
6
1902
M. & S.
do
6
On call.
do
3-65
1888 to ’ 99
6 & 7 Various N.Y., Bk. Repub. & Bk.Com.
1900
N. Y ., Nat. Bk. of Commerce
5
1902-’03-’05
do
do
4
1907
do
do
3%
Various N.Y., Bk. Com. & Bk.Repub. May,1888 tol906
6
Aug., 1898
6 g. F. & A. N.Y.,Nat. Bk. of Republic.
1888 to ’95
6 & 6 g. Various N.Y., Nat. Bk. of Commerce
18i*0 & 1892
6 g. Various New York and St. Louis.
July
1, 1894
do
do
6 g- M. & N.
1888 and 1894
New York or London.
6 g.
1895
do
do
5 & 6 M. & N.
6 g- J. & D. N. Y., Nat. B’k Commerce. Dec. 10,1892
June 1,1905
J. & D. New York and London.
4
Sept. 1,1888
M. & S. N. Y., Nat. B’k Commerce.
7
June, 1892
do
do
6 g. J. & D.
April
1,1905
A.
&
O.
do
do
6 g.
F. & A. N. Y., Nat. Bk. Commerce. Aug. 1,1901
4
j
Aug.
1,
1903
F.
&
A.
do
do
6
Net Debt,
Tax p $1,000
Real
Personal
Years.
Real Estate.
Personalty. Tax Rate.
Dec. 31 *
State & City.
Years.
Estate.
Estate.
$18 50
1884 ....................................... $573,728,105
$3,884,578
$94,406,228
$22
50
1884 .... $1,119,761,597 $218,536,746
18 50
10,035,600
93,031,951 1885 .................................... 587,749,828
24 00
1885 .......1,168,443,137
202.673.866
18 50
1886
....................................
601,001,971
10,307,644
90,395,631
22
60
1886 ...... 1,203,941,065 217,027.221
18 50
1887 ....................................... 61S 059.987
10.619-325
21 60
253,148,814
1887.......... 1,254,491.849
1888 ....................................... 644,063,374
3,149,665
.........
* Less sinking fund.
The Legislature passed a law in 1885 that the indebtedness should Assessed valuations of property for 1887 w ere: Full city property,
$569,587,035;
suburban
property,
$40,203,885;
farm
property,
$18,not exceed 10 per cent of the assessed value of real estate, and this 10
Population, 1870, 674,022, against 847,per cent was construed by the Court of Common Pleas (General Term) 888,392. Tax rate, $18 50.
to include the bonds in the sinking fund as a part of the debt. (V. 43, p.
1 P eoria, 111.—Total debt, $670,500 Dec. 31, 1886. Population,
41; V. 44, p. 204; V. 45, p. 86, 541.)
29.259 in 1880; 22,849 in 1870; in 1886 (estimated), 45,000.
N o rfo lk , V a.—The assessed valuations and tax rate per $1,000 are:
P ittsb u rg.—Total debt Jan. 31, 1887, was $13,206,823; net,
Years.
Real Estate.
Personalty. Tax Rate. $11,165,676. The assessed valuation in 1884 was: Real property;
18 8 3 ..........................................$9,776,197
$1,722,492
$20 *105,404,720; personal, only $1,838,258; tax rate, 1884, $16 pei $1,000
1884 .......................................... 10,086,898
1,494,483
20 Valuation of real estate in 1885, $108,530,608; personal, $3,000,000;
1885 .......................................... 12,307.131
1,899,550
18 tax rate, $13. Total valuation in 1886-67 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,
1886 .........................
1887 ..........................................12,094,205
1,642.820
18 $2,464,000; 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.
P o rtla n d . M e .—The sinking fund and available assets March 31,
N o r w ic h . C o n n .—The valuations and tax rate per $1,000 are:
Real
Personal
Rate of 1887, were $147,627, not including $1,350,000 P. & Og. RR. bonds.
The city is protected bv mortgages on Atlantic & St. Lawrence Railroad.
Years.
Estate.
Property.
Tax.
1884 ............................... $7,505,514
$2,630,956
$9 CO Population in 1880, 35,810; 1870, 31,413; 1887 (est.), 40,000. The as
2,459,352
900sessed valuations, tax rate, &c., have been :
1885 ............................... 7,624,571
Real
Personal Rate of Tax Total
Sinking
1886 ................................ 7,694,226
2,388,506
900
Estate.
Property, per $1,000.
Debt. Funds, &c.*
1887 ................................ 7,539,329
2,381,600
950 Years.
—Sinking fund, May, 1887, $65,613; population, 21,145 in 1880; 16,- 1883-84.. $20,431,300 $12,598,720 $20 00 $4,371,000 $133,846
----12,014,435
20 50
4,286,000
106,408
18848--------5 .. 20,794,300
653 in 1870.
11,759,525
2100
4,285,500
162,986
86.. 21,208,000
P a terso n , N. JT.—Finances are apparently in a sound condition 188511,862,200
21
0
0
3,942,500
147,626
188687.. 21,571,000
The assessed valuations, tax rate per $1,000, &c., have been:
* These do not include the sinking funds for railroad loans.
Years.
Real Estate.
Personalty. Tax Rate.
Debt.
Providence, R . I . —The principal debt of Providence has been cre
1883-84...............$18,521,342
$3,876,075
$25 00
$1,168,500
3,816,500
25 00
1,168,500 ated since ’72 for water works, sewerage, the City Hall and Brook Street
1884- 85.......... 19,205,501
1885- 86.......... 19,549,111
3,891,115
25 00
1,165,000 Improvement. The sinking fund for bonds due in 1893 is $333,367;
3,913,863
25 00
1,167,000 1895-99, $719,564; 1899-1900, $141,178; 1900-06-16, water loan, $452,1886- 87...... . 20,467,' 76
275. Population, 1870, 68,904; 1885, 118,070. The laws of Rhode
-Population, 51,031 in 1880; 33,579 in 1870.
P h ila d e lp h ia .—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.
CITY
N o v e m b e r , 1887. |
SECURITIES,
13
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f a n y error discovered in tbese T ables.
DESCRIPTION.
Date of
Bonds.
Size or
1881-85
1870 to ’85
1868 t o ’81
1864 t o ’78
1860 to ’79
1886
1882-4-5
Various.
1868-9
1878
1858
1864
1865
1870
1874
1872 t o ’75
1871 t o ’73
1874
1875 t o ’76
1873-74
1876
1879
1883
$1,000
1.000
500&C.
Various
Various
1,000
l.OOO&c
100 &c.
100 &c.
1,000
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
For explanations see notes on first page of tables.
Waterworks coups, (acts Feb.,’81 & Jan., ’83).
Ban Francisco— Bonds of 1858, coupon (gold)..
Central Pacific Railroad, coupon (gold)........
Western Pacific Railroad,
do
do ........
Park improvement bonds....................- ...........
Dupont St. (special)*(Act March 4,1876).......
Savannah, Oa.—Compromise bonds of 1879 —
Value.
100 &c.
100 &c.
Various.
Large.
Large.
1,000
1,000
1,000
Toledo, 0 .—General fund city bonds, coup........ 1875 t o ’ 86
1874-’ 77
1870
’73,’74&79
18S3-’84
Worcester,M—City,($521,500 c., $1,521,900 r.) 1861 to ’83 500 &c.
1870 t o ’86
Water debt,'reg. .7 ...... ..................................... J870 to ’85 500 &c.
Amount
outstanding.
INTEREST.
When
Where Payable, and by
Pay’ble
Whom.
4
$81,000
Various
5
901,600
Various
6
468.000
Various
7
523,747
Various
263,125
8
Various
425.000
1.500.000 4 & 5 Various
559.500 4, 5 & 6 Various
6
A. & O.
375.000
398.500
5
J. & J.
99.000
6 g. J. & J.
174.000
7 g. J. & J.
100.000
7 g. M. & N.
285.000
7 g. J. & D.
200.000
6 g. J & J.
475.000
6 g- J. & J.
210.000
6 g. M. & N.
150.000
7 g. J. & J.
407.500
....
6 g.
1.579.000
919.000
7 g. J. & J.
Q—F.
3.304.000
5
5
348.500
Q - J.
1.170.000 4, 5,51«,6 Various
335.000 4, 5, 51« Various
41«
Various
48.000
63.000
6
Various
1.200.000
6 & 7 A. & O.
140.000
7 > A. & O.
4 to 8 Various
976.000
6 & 8 Various
296.000
7 3 M. & N.
432.000
1 ,0 0 0 , 0 0 0
6 & 8 Various
475.000
5
A. & 0.
1,943,400 4, 5 & 6 Various
785.000 4, 413, 5 Various
655,300 Ji«, 4.5,6 Various
Total Assets in Sink.
Personal
Tax per
Real
Property.
$1,000.
Debt.
Funds, &c.
Years.
Estate.
$31,722,000
$14 50 $9,941,188 $1,681,400
1883..
.. $90,143,400
1450 9,890,638
1,843,785
18 8 4..
.. 91,642,10030,854,400
1450 9,568,188
1,438,328
1885..
.. 92,887,40031,314,600
9,685,817
1,701,985
32,281,500
14
00
18 8 6..
.. 97.975,900
1,815,811
1450 9,767,616
1 8 8 7..
.. 99,754,04034,021,720
R ich m o n d ) V a .—In 1886-7 real estate valuation, $33,517,807;
personal, $14,575,848: tax rate per $1,000, $14. In 1885, real estate,
$32,347,803; personal, $13,751,666; tax rate, $14. Population, 63,600
in 1880; 51,038 in 1870.
R och ester.—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 of tax, &c., have been:
Total
Real
Personal
Tax per $1,000
Debt.
Years.
Estate.
Property.
in old Wards.
$5,354,000
1 8 8 3 ..
.. $36,166,200 $1.817,200
27'65
32-22
5.284.000
1 8 8 4 ..
.. 37.270,850
1,778,100
30-98
5.399.000
1 8 8 5 ..
.. 38.563,020
2,389,050
1522
5.459.000
1 8 8 6 ..
.. 72,171,975
3,345,000
5.309.000
4,529,000
1645
1 8 8 7 .... 72,860,900
In 1886 real estate valued at 80 p.c. Populationin 1887 about 125,000.
R ock lan d* M e.—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. J osep h , M o .—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 iu August,
1887, was $1,740,200.
The assessed valuations (in 1887 one-half of actual valuation) and
tax rate per $1,000 for three years were as below :
Real estate.
Personal.
Tax rate.
$3,678,193
$23
1883 ......................................... $7,586,650
1884 ......................................... 7,873,150
3,700,222
22
1887..............................................................
15,000,000
21
St. L o u is.—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 is, 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
as given in above table, there are the follow ing: $10,000 Hospital, 6s,
due in 1888; $44,000 Harbor, 6s, due 1838; $55,000 Caiondelet
indebtedness 6s, due 1895, and $100,000 Fire De^t., 6s, due 1895.
Assessed valuation of property and tax rate have been:
Real Estate /—Rate of tax per $1,000.—.
and Personal
New
Old
Bonded
Years.
Property.
Limits.
Limits.
Debt.
1884
............... $211,480,710
$5 00
$17 50 $22,105,000
5 00
1750
22,016,000
1885 . . .................... 207,526,000
1886
.............. 214,427,690
5 00
1750
22,942,000
18 8 7
.............. 216,778,670
5 00
1750
22,105,000
—(V. 44, p. 586; V. 45, p. 26.)
St. P au l) M in n .—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 and tax rate have been:
Personal Rate of Tax
Total
Years.
Real Estate. Property,
per $1,000.
Debt.
1883
.............. $31,000,000 $12,000,000 $ 24 50
$2,328,040
1884
...........
47,000,000 14,263,565
16 00
3,027,140
1885
................ 50,512,212 14,291,946
19 50
3,815.640
1 8 8 6 ........................ 68,539,570 15,584,481
17 50
4,521,057
Valuation of real estate is about one-half of true value.
—(V. 44, p. 473.)
Rate.
Principal—Wilt n
Due.
N. Y. Am. Exch’ge Nat. Bk.
1907 to 1912
do
1897 to 1915
do
do
1888 to 1904
do
do
do
1887 to 1903
do
do
1893 to 1904
do
1916
do
do
do
1912 to 1915
City Treasury.
Jan., 1888 to 1895
do
Api. 1,1888-1888
do
do
July 1,1904
do
San F.&N.Y,, Laidlaw & Co.
Jan. 1, 1888
do
July 1, 1894
do
do
May 1. 1895
do
do
June1,1890
do
de
July 1, 1894
do
do
1897 à 1904
do
do
do
Nov. 1, 1891
do
do
July 1,1894
do
do
1899
San.F.& N.Y.,Laidlaw& Co.
1896
N. Y., Eugene Kelly & Co.
Feb. 1, 1909
do
do
July 1,1913
Boston, Nat. Security Bank
1887 to 1896
do
do
1887 to 1906
Salem.
1887 to 1889
Boston, First National B’k.
1887-1890
do
do
Api. 1, »94, to 1905
do
do
1887 to 1893
N. Y., Imp. & Trad. N. Bk.
1888 to 1913
do
do
1889-1892
do
do
May, 1900
do
do
1893 to 1899
do
do
Oct.. 1913
C.Treas.&Bost. Mchts.’ Bk. Jan. 1, ’88 to 1905
do
do
1899 to 1905
do
do
Jan. 1, ’88 to 1915
Salem) M a ss.—In addition to the debt as above given there were
in Dec., 1886, $96,936 trust funds, payable on demand. The sinking
funds Feb., 1887, were $431,470, mostly consisting of City of Salem
bi nds. Population, 27,563 in 1880; 24,117 in 1870. Tax 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, &c., $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.
San F ran cisco.—Population, 233,959 in 1880; 149,473, in 1870. The
Montgomery Avenue and Dupont Street bonds are special issues charge
able only on the assessment of property benefltted, and suits were in
progress October, la 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:
Realty.
Personalty.
Tax Rate.
$66.598,521
$18 05
188182 ...............$155,834,879
18828 3 ............... 151,894,908
50,267,099
18 021«
62,272,531
16971«
1883- 8 4 ........................ 158,723,269
18848 5 .............. 164,495,888
59,013,672
15 75
188.5-86....................... 171,416,426
56,192,922
15 95
Savan n ah . G a . - Default was made on interest Nov. 1,1876, inconse
quence of yellow fever and non-collection of taxes. The compromise
gave new 5 per cent bonds for the face of old bonds; and for interest up
to Feb. 1,1879, 58 per cent of the face value in 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,
$30; in 1884, $12,500,000, $30; in 1885, $13.000,000, $21 25; in 1886,
«13,400,000, $21 25; in 1887, $13,700,000, $21 25. Population in 1870,
28,235, against 30,709 in 1880.
Som erville) M a ss.—Total debt, Jan. 1, 1887, $1,525,000; «inking
fund, $584,052. Property valuation in 1882, $23,162,200; in 1883.
$23,812,900; in 1884, $24,331,100; in 1885, $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 in 1880; 14,685 in 1870.
Springfield) M a ss.—Total funded debt, Jan., 1887, $1,451,000;
cash assets, $149,734. The railroad debt falls due $20,000 each year.
Population in 1885, 38,000; 1870, 26,703. Tax valuation and rates
have been .Personal
Tax rate
Years.
Real Estate.
property.
per $1,000.
1 8 8 1 ...............
$8,935,850
12 50
1882 ...............
9,198,258
12 50
1883...............
25,676,800
9,260,459
12 50
1884...............
26,201,150
8,792,666
14 00
1885...............
26,969,800
8,827,966
12 80
1386...............
27,638,760
9,143,442
12 80
—Valuation of real estate is about 67 per cent of true value.
T o led o .—Total debt, Jan., 1887, was $3,188,484. Of this the debt
payable by special assessments was $150,003 Iu addition to bonds
as given above, there are $29,000 6s, due 1891 and *92, and $3,000 5s,
due iu 1888, 1895 and 1905, and $50,000 4s., due iu 1907. Taxable
valuation ol real estate, 1885, $21,733,240; personal, $8,157,060;
total valuation, $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.
W orcester) M a ss.—Total funded debt, Jan. 1, 1887, $3,506,700.
Cash assets Deo. 1,1836, $1,296,883, including $860,846 in sinking fund.
Population, 68.383 in 1885, 58,291 in 1880,41,105 in 1870. Tax valu
ation in 1882, $45,504.512; tax rate, $17 40 per $1,000 In 1883,
$48,570,335; tax rate, $17 20. In 1884, $50,773,475; tax rate, $16 60.
In 1885, $52,714,910; tax rate, $18. In 1886, $51,566,389; tax rate, $18.
14
INVESTORS’
SUPPLEMENT.
[Vol. XLV,
Subscribers w ill confer a great favor by g iv in g im m ediate notice of any error discovered in these T ables.
Bonds—Princi INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
Par
per When
of
For explanation of column headings, Ac., see notes of
Outstanding Rate
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
April
1, 1907
London.
A.
A
O.
£100
$7,128,000
6
1882
Ala. N. 0. Texas <6 Pacific Jun e—1st debentures... 233
June 1,1907
do
J. A D.
*100
2,232,000
6
1884
2d debentures.......... ................................................
Jan.
1, 1908
N.
Y.,
Farmers’
L.
A
T.
Co
T.
A
J.
$1,000
1,714,000
1878
6 gAla. Ot. South’n.—1st mortgage............................... c 290
Aug. 15,1906
London.
*100
134,000
6 g. F. A A.
1886
Debentures, gold ........................................................
July
1, 1887
N.
Y.,
B’k
of
Commerce.
J.
A
J.
$100
3,500,000
313
Albany A Susquehanna—S tock .................................. 209
July, 1888
J. A J'. N.Y.,Del. A Hud.Can.Co
1,000
998,000
7
1st mortgage.............................................................. 142 1863
1895-’97
M.
A
N.
do
do
6
1,000
1,000,000
Albany City loan (sinking fund, 1 per ct. yearly). 142 1865
April 1. 1906
do
do
1,000
8,488,000 6 g. A 7 A. A O.
Consol, mort. (guar. D. A H. endorsed on bonds).. 142 1876
....
50
2,166,500
259
Allegheny Valley—Stock...............................................
J. A J. N. Y., Winsiow, L. A Co. March 1,1896
7-30
1,000
4,000,000
1866
132
General mortgage (Riv. D iv.).................... . . . .
Jan’ary Harrisburg, Treasury. 100,000 y ’rly.
5
2,300,000
110 1870 100,000
Bonds to State Pa. (endorsed) 2d mort.. East ext
A. A O. Philadelphia or London April 1, 1910
7
1,000 10,000,000
110 1871
1st mort.. East’n Extern, guar, by Pa. R R ..........
Oct. 1. 1894
A.
A O. Pittsburg, Co.’s Office.
7
9,723,100
259 1874 100 Ac.
Funding income bonds, with traffic guarantee—
J. A J. N. Y., Cent. Pacific RR. Jan. 1. 1907
6
1,000
675,000
27 1877
Amador Branch—1st mortgage.................................
April
1, 1925
A.
A
O.
N.
Y.
Company’s
Office.
1,000
500.000
6 g.
71 1885
Asheville A Spartanburg—1st mortgage, gold........c
6
1,000
4,070,000
Q.—F. N.Y., Un. Pac.RR.Office May 1,1905
254 1879
Atchison Ool. A Pacific—1st mort., guar.................
May
1,1905
Q
.-F
.
N.Y.,Un.Pae.
RR
office.
6
542,000
1,000
34 1879
Atchison Jewell Oo. A West.—1st M., guar. C.B.U. P
Boston, N. Y. A Chic. Nov. 15, 1387
Q .-F .
100 75,000,000
1%
Atchison Topeka A Santa Fe—S tock ......................... . 2,526
7,041,000
7 g. J. A J. Boston, North Nat. Bk. July 1,1899
470 1869 500 Ac.
1st mortgage, gold, ($15,000 p. m.)......................
do
do
Oct. 1 , 190C
2,426,500
7 g. A. A O.
1870 500 Ac.
Land grant mortgage, gold, ($7,500 p. m .)., . —
April 1, 1903
do
do
108,500
500
Ac.
7 g. A. A O.
1873
Consol, bonds, gold, ($7,500 p. m .)..........................
April
1,1909
Boston,
Boston
Nat.
B’k.
A.
A
O.
5
1,007,000
1,000
1880
Coll at. trus-, bonds (drawn at 1 0 1 )...,.................. .
Sept. 1. 1920
do
do
M. A S.
1,000
5
3,519,000
1880
8. F. bonds, plain (redeemable at 101)...................
Oct.
1.
1920
Bost.
Safe
Dep.
A
Tr.
Co.
A.
A
0.
1,000
4,687,000
4
1
3
Collat. trust sink, fund^bonds (drawn at 100)..c<fer . . . . 1830
Dec. 1, 1911
J. A D. Boston, Co.’s Office.
6
1,000 12,142,000
1881
Collat. trust sink, fund bds. (drawn at 105)....... .
Feb.
L,
1937
do
do
F.
A
A.
6,500,000
5
g.
1887 100 Ac.
Collateral trust bonds., gold (V. 44, p. 245).. ..c&r
F. A A.
(?)
1887
Mort. bonds on Chic, property! ■BlO.oOO,000) —
412,000
1,000
7 g. J. A J. Boston, North Nat. Bk. July 1, 1902
1872
Wichita A Southwest., 1st M.,gold 1
J.
A J. Boston, Everett N. Bk. July 1, 1905
854,000
1,000
7
g.
1875
66
Kan8. City Top. A W. 1st M., gold I
Mar. 1, 1906
do
do
200,000
7 g. M. A S.
1875
do
do
income bds. ) Guar.reutal
J. A J. Bost., N. Bk. of N. Am’a July 1, 1905
1,633,000
1,000
7
g.
1875
2R2
Pueblo & Ark. Valley, 1st M.,gold I
July
1, 1905
do
do
1,000
1,942,000
7 g. J. A J.
Pueb. & A. V., 1st (A 2d on 148 m. J
l 282 1878
A tch iso n T o p ek a & Santa F e . - (See Maps.)—Line of R oad .—
A la b a m a N. O. T ex a s Ac Pacific J u n ctio n (L im ited ).—(Sec
A complete detailed statement of the lines of road operated on Deo.
Map Oinn. N.O.AT.P.)—T\Ab is an English Co. controlling the VicKSDurg 31,1886,
was given in the Chronicle, V. 44, p. 586. The totals of the
A Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N.u. diff-rent systems
are as follows: Atchison, 1,8 )5-50 miles; Southern
& North Eastern, 195 miles; and Spanish Fort R’y, near New Orleans, id Kansas, 630-30 miles—total,
systems, 2,526 miles; Chicago Kan
miles. It also controls the Cincinnati New Orleans & Texas Racine sas A Western, 401-23 miles; both
Sonora, 350-19 miles; roads owned j o ’ntly
Railway Co. (lessee of the Cincinnati Southern Railway). The manage with other companies (one-half
of
192-08 miles), 96-04 miles; total,
ment of the company is the same as that of the Alabama Great soutnem
miles. The results on all these systems (except the Chicago
RR. In Sept., 1887, the appointment of a receiver for this company 3,373-26
Kansas
&
Western,
under
construction
in 1886) are included in the
was proposed by the stockholders in London. The preferred or ‘ A snares
Atchison Topeka & Santa Fe report. In addition to the above, the
are *1,500,000, having a preference for 6 per cent dividends and cumu Atchison
Company
owns
exclusively
the
Gulf
Colorado A Santa Fe RR ,
lative, and the deferred or “ B” shares *2,500,000; par value of all 847-30 miles, ant is part owner of the California
Southern RR., 210-61
shares *1 0 each. The first debentures are redeemable any time at i i o , miles, and the Atlantic A Pacific RR., 917-75 miles.
op -rations of
on s ix ,months’ notice. The company holds the following securities, viz.: these three roads are, however, kept entirely distinct The
from those of the
Cin. N. O. & Texas Pacific $532,000 stock; Vicksburg & Meridian, other systems and are not given in the Atchison’s reports.
The road3
$245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage,
be summarized as follows: Ooerated directly (Atchison Tooeka A
$1,464,300 preferred stock and $363,000 common stock; of Vicksb. may
Fe and Southern Kansas), 2,526 miles; operated indirectly, 847
Shrevep. A Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,- Santa
owned and partly owned, but operated by separ ite com oanies,
000 stock; of N. O. A North Eastern $4,900,000 1st mort. and $4,320,- miles;
1,975-66 miles; grand total, 5,3 49 miles. (S'noe Jan. 1,1887, over 800
000 stock; N. O. Spanish Fort&L. RR. $300,000 1st mort. and $200,000 miles
of
new road have beenoompleted.) The California Southern gives
com. stock. Report for 1886 in Chronicle, V. 45, p. 52. (V. 4o, p. 5 A, a through
route to the Pacific coast at San Diego, via the Atlantic &
436.)
Pacific RR. The Gulf C >1. A Santa Fe road was bousrht in April. 1886.
A la b a m a Great S o u t h e r n .—(»See Map Oinn. N. O. A T .P .)—From
O
rganization , L eases, A c.—The A. T. & S. Fe. Co. was incorporated
Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatchie M aroh3,1863, and includes the Atchison & Topeka RR.. incorporated
to Chattanooga, 5 miles total operated, 295 miles. The Alabama & Feb. 11,1839. The land grant was received by Act of Kansas Feb. 9,
Chattanooga RR. madedefault Jan. 1,1871, and road was sold under fore 1864. The main line of 471 miles was opened Deo. 23, 1872. The
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is whole system outside of the main line is nominally under different cor
controlled by an English company of the same title. The lands were porations, of which the ownership is vested in the A. T. &S. F., and the
oonveyed in full settlement to the holders of the $2,000,000 of Alabama roads also leased to that Co., and interest on the bonds usually paid as
State bonds. These lands (about 550,000 aores) are held by trustees. rental. The Southern Kansas and the Sonora systems are not leased,
(V. 30, p. 117.) Tlie debentures are made exchangeable for any mort
are controlled by ownership of the stock.
gage bonds that may be created subsequent to the debentures. Capital but
In Aug., 1884, an agreement was made for the oontrol of the Mojave
stock—oommon, $7,830,000, and preferred 6 per cent, $3,330,3o0. Division
the Southern Pacific anda right for trafflo over the Soutnern
Gross earnings in 1885, $1,076,188; net. $L28,140. Gross in 1886, Pacific toofSan
Francisco. In 1886 the Atlantic A P mitto 1st mortgage
$1,215,195; net, $276,798. (V. 42, p. 7 2 7 ).
bondi-'terest was reduced to 4 per cent and the bonds guaranteed oneA lb a n y Ac Su squ eh an n a.—Road owned from Albany, N. Y., to half each, severally but not jointly, by the Atchison and San Francisoo
Binghamton, N.Y., 142 miles; branohes operatedDuanesburg Junction, companies. See Atl. A Pac. and St. L. & San Fran, in this Supplement .
In April, 188«, the G. C. A S. F. was purchased by the Atchison Com
N. i . , to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley, 21
miles; operates Lackawanna & Susquehanna RR., 22 miles; East Gien- pany by the exchange of G. C. & S. F. stock for Atchison stook, $3,000,ville to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity 000 in all. See official circular, V, 42, p. 630.
The fiscal year ends December 31.
from Feb., 1.870, to Delaware A Hudson Canal Co.; rental, 7 per cent
on stock and interest on bonds. Additions and betterments charged to
Stock and Bonds—The stook has been increased rapidly to present
lessors, and cost made part of investment. The consol, mort. is for $10,- figures for the acquisition of the auxiliary lines and by way of stock
000,000, of which $3,000,000 are 7 per cents, currency; the principal of dividends. In August, 1837, there was offered to stockholders
the 6s. is also payable in “ lawful money,” but the interest in gold. Gross $10,000,000 new stock at par, raising the whole stock to $75,000,000
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 Per ®®nt >
all payments, $259,760. (V. 43, p. 580; V. 45, p. 180, 614.)
in 1880, 84a; in 1881, 6 cash and 50 stock; in 1882 and thereafter 6 per
regularly paid. The range in prices of stook in Boston was
A lleg h en y V a lle y .—Owns from Pittsburg, to Oil City, Pa., 132 cent
1881, 92 a»154i4; in 1882. 78'78®9618; in 1883, 78®86i4; in 1384,
miles; branches—Red Bank, Pa., to Driftwood, 110 miles; others, 17 te
59ia®80;
in 1885. 631438913; in 1886, 79?8alOO; in 1887, to Nov.
miles; total operated, 259 miles. The company became embarrassed
incl., 90i8 ®11978.
,
. v
.
.
in 1874 and compromised with its creditors. It still falls short 18,
Such
bonds
as are held 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
RR., Northern Central and Philadelphia & Erie hold $6,087,000, the in
the above amounts outstanding. Tne land grant bonds receive the
interest on which was paid altogether in bond scrip. The coupons of proceeds
of land sales in payment of interest and principal.
guaranteed bonds held by the Pennsylvania Railroad for advances
The
sinking fund 5 per cent bonds due Sept. 1,1920, are plain bonds
amount to $5,232,710. In 1886 the charges for mortgage interest and (not mortgage)
and partly seoured by deposit of $630,0 >0 plain bonds
car trust payments were $1,115,604, income bonds nil; deficit in net
Kansas City Topeka A Western RR. sinking fund is 1 per cent per
earnings, $432,384. In May, 1884, receivers were appointed at the of
annum,
with
whioh
bonds are drawn at 101.
_____- „ ,,
„ _
instance of the Penn, and other railroads as plaintiffs.
The 413 per cents due October, 1920, have $4,6 iO.OOO of the 6 per
From January 1 to Sept. 30 in 1887 (9 months) gross earnings were cent
mortgage
bonds
of
the
Rio
Gr.
Mex.
&
Pac.
and
$o00,000
of
$1,483,551, against $1,321,710in 1886; net, $554,657, against $476.217. Rio Gr. A El Paso roads as seourity, the sink. fd. being l^s p ct. per the
an
In 1885 gross earnings were $1,780,133; net, $671,134. In 1886,
rising to 3*2 by 1910. with which bonds are b iught or drawn at par;
gross, $1,812,729; net, $681,230; interest, $1,115,604; deficit, $432,384. num,
registered
bonds
for
$5,000
issued
for
ooupon
bonds,
and
are
not
re
- (V. 43, p. 546; V. 44, p. 21, 612.)
deemable till after coupons.
, , _„ ,
The
6
per
cent
bonds
due
Dec.
1,1911,
have
as
security
1st
or
2d
mort.
A m a d o r B r a n c h .—Galt, Cal., to lone, Cal., 27 miles. Leased till
Nov. 1,1890, to Cent. Pacific; rental $3,500 per month. Stook, $675,- bonds of a number of the proprietary or controlled railroads, at not
000. Earnings in 1885, $31,243 gross and $12,705 net. In 1886 gross over $ 55,000 per mile, deposited in trust as collateral; they are re
earnings $39,448; net, $13,124. Leland Stanford, Pres’ t, San Francisco. deemed at 105 by the sinking fund, whioh is 1 per cent per annum till
1891 and 2 per cent thereafter.
A sh eville Ac Spartanburg—(See Map Richmond A Danville).—
The 5 per cent bonds, due April 1.1909, are secured by
Mex.
From Spartanburg, S. C., to Asheville, N. C., 71 miles. Formerly & 80. Pac. 1st mort. 7s.
„
, .
Spartanburg A Asheville; sold in foreclosure April, 1881, and reor
The collateral trust bonds of 1887 are direct bonds of the Atomson,
ganized. Stock $1,050,000. In 1883 the mortgage for $500,000 was, oompauy, against which are deposited in trust the bonds of branch lines
made to bund the 18 miles to Asheville; in 1885 a new mortgage for constructed in California and Colorado, not exceeding $25,000 per
$500,000 was authorized. Controlled by Richmond & Danville. Gross mtlo. Boston Safe Deposit & Trust Company is trustee. See circular
earnings in 1884-5, $28,572; deficit, $4,611. Gross earnings in 1885-6, in V. 44, p. 245.
$29,583; deficit, $5,527.
The bonds of $10,000,000 on Chicago property are secured on ter
&o., in that city.
A tch iso n Colorado Ac P acific.—Waterville, Kan., to Washington minals,
Interest on the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaran
Kan., 20 miles; Greenleaf, Kan., to Logan. Kan., 155 miles; Logan to teed
; those bonds are at $20,000 per mile, of which $5,000 per mile are
Lenora, Kan., 25 miles; Downs, Kan., to Ball City, Kan., 24 miles; Yuma,
bv the A. T. A S. F. Co.
Kan., to Warwick. 31 miles; total, 254 miles. The road forms an exten owned
The California Southern 1st mortg bonds are guarantee! (by endorse
sion of the Union Pacific Central Branch, by which the bonus are guara» • ment
on
bonds) as per the agreement of reorganizaiou for that
teed and the road is controlled, and the whole system is virtually owned companythe
made in 1835. The first coupon on the income bonds was
by Union Pacific, but operated by Mo. Pac. Stock, $1,522,400, of which paid September.
1887. Sinking fund of $25,oOO per year retires the
U. P. and C. P. own $920,300. Rental is $254,370 per annum.
first mortgage bon Is at 112.
The
Wichita
A
Western, Wichita to Collison, Kan , 100 miles, is owne 1
A tch ison J ew ell Co. Ac W e st.—Jamestown, Kan., to Burr Oak,
Kan., 34 miles. Under same auspices and control as Atchison Colorado ioinrly with the St. Louis A San Fran., but bonds are not guaranteed.
The
Leav.
Top.
A So RR. bonds at 4 per cent are guaranteed one-hal
A Paoiflo. Stock, $202,800, of which Union Paeiflo owns $105,000. Ren
by the A. T. AS. Fe, and one-half by the Union Pacific.
tal is $34,000 oer annum.
N o v e m be r , 1887.]
RAILROAD
STOCKS AND
BONDS.
15
Subscribers w ill confer a great favor by g iv in g im m ediate notice o i a n y error discovered in tbese Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
par
For explanation o f column headings, &c., see note8 of
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding Cent. Pay’ble
on first page of tables.
Whom.
Dividend.
Atch. Top. <6S.Fe—(Continued.)—
64 1879 $1,000
Kan. City Emporia & S..lst m ort.... ]
f
$532,000
J. & J. Boston, North Nat. Bk. July 1, 1909
92 1879
Cow. Sum.& Ft. Smith, 1st m ort.......( G’rantee J
1,000
798.000
A. & O.
do
do
Oct. 1, 1909
93 1879
1,000
Marion & McPherson, 1st mort........ [ rental. ]
713.000
A. & O.
do
do
Oct. 1, 1909
I e - A. & O. Boston,
26 1877
1,000
Florence El Dor. & W., 1st M., gold .. J
l
775.000
Nat. B.N.Amer. Aug. 1, 1907
45 1884
1,000
Wichita & Western—1st mortgage coup................
I 8' J. & J.
761.000
do
do
Jan. 1,1914
46 1882
Leav.Top.&S.W.—1st m.^guar.byAt.
byUn.P.
1,000
1.380.000
4 g. J. & J. Boston, Am.L’n& Tr.Co. •July 1, 1912
1,000
N. Mexico & So. Pac.—1st M „ gold, guar, rental.. 372 1877
4.425.000
A. & O. Boston, Everett Nat.Bk. April 1, 1909
I
e
'
Sonora, 1st mort., gold, interest guaranteed........ 262 1880
1.000
4.050.000
J. & J. Boston, Nat.Revere Bk. J a n .1, 1910
Cal. So., gold,guar.by A.T.&S.F. (drawn at 112). 210 1886
1,000
2.106.000
I e - J. & J. Boston and New York. Jan 1, 1926
1886
1,000
Income bonds..........................................................
3.505.000
6
M. & S.
March 1, 1926
Chic. Kan. & West., 1st, gold, guar, by A.T.& S. F. 450 1886 100 &c. 12,200,000
5 g. J. & D. Boston, Office of Co.
June 1, 1926
do
inc. bds. non-cum. ($7,000 p. m.) .c* 450 1886 100 &o.
6
6.100.000
May 1
do
do
June 1, 1926
1887 l.OOO&c 15.000.
Chic. Santa Fe & Cal., 1st mort., gold, guar.. c*<fcr
000
J & J. N. Y., Hanover Nat. Bk. Jan. 1, 1937
Southern Kansas—K.C. Law. & So., 1st mortgage Ì85 1879 500 &c.
i g - A. & 0. Boston, Nat. Union Bk. Apr. 1, 1909
2.940.000
So. Kansas & West.—1st mort., (drawn at 110). 139 1880
1,000
7
1.659.000
J. & J.
do
do
Jan. 1, 1910
18 1880
Sumner County RR.—1st m ortgage....................
1,000
212.000
M. & S.
7
do
do
Sept. 1, 1910
42 1881
Ottawa & Burlington RR.—1st mortg................
1.000
500.000
6
A. & O.
do
do
April 1. 1909
S. Kan.(Gulf Divis.)—1st, g’ld.guar.by A. T.&S.F. 350 1886 100 &c.
3.920.000
M. & S.
do
do
Sept. 1,1926
1886
100 &c.
Income bonds (not cumulative) $1,000 per mile)
I*"
do
do
(?)
1926
1886 100 &c.
Southern Kansas in Texas, 1st mort., gold, guar..
M. &" S.
do
do
(?)
Sept. 1,1926
269
Atlanta <&Charlotte—Stock (guar. 5 p. ct. by rental)
100
1.700.000
u - M. & S. N.Y. Central Trust Co. Sept. 7,1887
1,000
New pref. mort.......................................................... 2651s 1877
7
A. & 0.
500.000
do
do
April 1,1897
Mortgage bonds....................... ................................. 265*8 1877
1,000
4.250.000
J. & J.
7
do
do
Jan. 1, 1907
1880
Income bonds, registered (not cumulative). . . __
500
6
750.000
A. & O.
do
do
April 1,1900
Atlanta <6 West Point—Stock....................................... "80
100
3
1.232.200
J. & J. Atlanta, Ga., atTreas’y. July 15, 1887
Debenture certificates............................... .. ............
Ì881
6
1.232.200
J. & J.
do
do
1891
Atlantic <6Northwest.—1st M., g., guar.......... *c*&r 325
£100 &c
6.650.000
5 g. J. & J. Lond.,Baring Bros.&Co. Jan. 1, 1937
927 1887
Atlanticdt Pac.—A.& P. guar, trust bonds, g old ........
1,000 17,610,000
4 g. J. & J. N. Y., Mercan’ Trust Co. Jan. 1, 1937
Incomebds., non-cum’tive, W. D. ($18,750p. m.).
640 1880
50 &c. 12.000.
000 6
A. & O.
Boston.
Oct. 1, 1910
1871 500 &c.
1st RR. & land gr. bonds on Cent. & Mo. Divisions
1,189,905
M. & N.
6
New York,
Nov. 1, 1891
1st land grant bonds on Central Div.. cumulative 3.12 1871 500 &c.
796,629
6
At Mat.
do
Nov., 1901
Income bonds, Cent. Div.,non-cum. ($18,750 p. m.) 112 1882
1,000
2.100.000
6
J. & D.
Boston.
June 1, 1922
The Chicago Kansas & Western stock ($10,000 per mile) is held by the I (V. 43, p. 102, 125, 152, 162, 244, 274, 333, 431, 451, 546, 571, 578,
A. T. & S. Fe, and the first mortgage bonds, at $14,000 per mile, are 633, 671, 718, 733, 773; V. 44, p. 21, 59, 60, 148, 2 4 5 , 362, 400, 466,
guaranteed by the latter company, and, these, with the income bonds at 551,564, 5 8 3 ,5 8 5 , 5 8 6 , 627; V. 45, p. 52, 142, 180,271,340, 400, 472,
$7,000 per mile, were issued as per the’ circulars in V. 43, p. 59 , V. 44, 564, 612.1
>. 245. The roads covered by these bonds are about 900 miles of branoh
ines in Kansas constructed in 1886 and 1887.
A tlan ta Ac C harlotte A ir L in e .—Owns from Charlotte, N. C., to
The Chicago Santa Fe & California Railroad is the company in Illinois Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold
and Iowa forming the connecting line from Kansas City to Chicago, under foreclosure Dec. 5,1876, and the existing corporation was formed
about 450 miles—Kansas City to Fort Madison, Ta., on Miss. River, Feb. 27,1877. On March 26, 1881, tne road was leased to the Rich
about 200 miles, then to Pekin, 111., about 160 miles, and then over Chi mond & Danville at a rental of $462,000 per year, equal to the interest
cago & St. Louis (purchased) 90 miles. Its bonds, ($35,000 per mile) are on debt and 5 per cent on stock; if gross earnings of A. & C. A. L.
guaranteed by the Atchison, and are a first lien on all but 90 miles, on exceed $1,500,000, dividends to be 6 per ce n t; and if they exceed
which there is a prior mortg. of $1,500,000, for which bonds of this issue $2,500,000, 7 per cent.
are held to retire them at maturity. Trustee of mortgage is Boston Safe
Deposit Sr, Trust < o. of Boston. See V. 44, p. 148.
A tla n ta Sc W e st P o in t.—Owns from East Point, Ga., to West
The Southern Kansas Gulf Division nnd the Southern Kansas in Point, Ga., 80 miles; leased, 6*3 miles; total operated, 86^ miles. In
Texas first mortgage bonds were issuea as per circulars in V. 42, April, 1881, a controlling interest in the stock was purchased for the
p. 462, V. 43, p. 431. The bonds are guaranteed, principal and Central Georgia, and a stock dividend of 100 per cent was afterward
Interest, by the Atchison Topeka & Santa Fe. The Gulf Division bonds declared in debenture certificates. Gross eam’s in 1886-87, $394,640: net,
cover the road from Arkansas City south through Indian Territory $160,586; surplus over dividends and interest, $12,724; in 1885-86,
towards Denison, and also the branoh from Kiowa on the Kansas gross, $397,259; net, $138,001. (V. 45, p. 142.)
border southerly to Wolf Creek and the Texas border (in the Panhandle).
The Southern Kansas R iili oad in Texas was organized to build that part
A tlan tic Sc N orth w est.—Line in progress across the State o f
of the line in Texas, and on both lines the bonds are at $16,000 per mile,
guaranteed by Atchison. The income bonds issued by the So. Kansas Maine as connection of the Canadian Pacific. Bonds negotiated in
Gulf Division are at the rate of $4,000 per mile and not issued till these London May, 1887. The Dominion Government grants a subsidy
for 20 years at $186,000, and Canadian Pacific guarantees the balance
two divisions are completed.
L and G rant.—The lands are practically sold out. Land sales in 1886, of the interest, £28,013 per year. (V. 44, p. 652.)
347,322 acres for $348,839, being an average of $2 44 per acre; assets
A tla n tic Sc Pacific.—This corporation was chartered by Act of Con
Dec. 31,1886, $1,343,817 contracts and interest on contracts, and 1,391 gress
July 27,1866. The Western division is from Isleta, near Albuquer
acres yet unsold.
Operations , Finances, &c.—The connection with the Atlantic & que, on At Top. & Santa Fe, to Big Colorado River, 560 miles, with
Gallup
Junction branch, 4 miles. At Big Colorado River it meets the
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. line to Molave, Cal. (242 miles), leased by this Co. in 1884 from the
Southern
Pacific of Cal. The Cal. Southern gives a through route to
In Nov., 1885, the Cal. Southern was completed, giving a through route
San Diego on the Pacific coast. It leases also A. & P. Junction to
to the Pacific coast by the Atlantic & Pacific road.
Albuqueique
N. M., 13 miles; total operated, 819 m. Also the Central
From Jan. 1 to Sept. 30 in 1887 (9 mos.), gross earnings were $13,634,174, against $11,052,675 in 1886; net, $6,232,374, against $5,10.5,' 8 J. Division is finished from Seneca, Mo., to Sapulpa in the Indian Ter
ritory.
112
miles,
and operated by the St. Louis & San Francisco Rail
The report for 1886 was in the Chronicle, V. 44, pp. 583 and 586.
Earnings and operations and income account were as follows, these way Co.
By the “ tripartite’’ agreement of Jan. 31,1880, the Atch. Topeka &
statistics embracing the Atchison Topeka & Santa Fe and Southern
Kansas systems combined, but nothing of the Sonora, Atlantic & Pacitto, 8. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earn
or roads owned joifitiy, although the interest on Sonora bonds is ings over their lines to pay coupons, and large advances were made to
the A. & P. by both .those companies. In O ct, 1886, the plan was made
deducted here:
to exchange the A. & P. first mort. bonds for the new 50-year 4 per cent
operations and fiscal results.
b
inds due in 1937, guaranteed severally ibut not jointly) by the two
Is84.
1885.
1386.
companies, each comp m y guaranteeing one-half of each bond. (See
2,374
2,397
2,526
Miles operated...........................
Y.
43, p. 571, 559, 607.) Stock authorized is $100,000,000, and
Operations—
issued $64,810,300 (par $100), of which $51,302,600 is owned Dy the At.
Passengers carried one mile— 135,412,096 149,999,427 176,810,489 T.
& S. F. and the St. Louis & S. F. companies equally, and deposited
Rate per passenger per mile—
2-648 cts.
2-593 cts.
2-277 cts.
Freight (tons) carried onemile.634,711,316 607,753,550 687,399,093 in trust tor thirty years. The stock is classed thus: Western Div., com.
stock,
$41,750,000; Cent, and Mo. divs., com stock, $3,665,300; pref.,
Rate per ton per mile................
1-882 cts.
1-789 cts.
1-615 cts.
$11,395,0.)0. The old pref. stock has no preference over the A. & P.
Earnings—
$
$
$
Western
Division stock. An estimate of the income bond status and
Passenger..................................... 3,583,018
3,889,411
4,026,005
was in V. 45, p 3 40.
Freight.......................................... 11,946,453
10,873,621
11,100,967 prospects
The
Southern
sold the 242 miles of road from Mojave to The
Mai express, &o.......... i ............
762,412
808,363
857,335 Needles, on the Pacific
Colorado River, to the A. & P. Company for $7,271,Total gross earnings........ 16.291,883
15,984,307 100, payable in A. & P. 1st mortgage bouds, issued on said 242 miles,
15,571,395
Operating expenses—
to amount of $3,059,250 aud $1,211,850 in cash. Until clear title
Maintenance of way, <tec............ 2,861,236
2,186,767 to this piece of ro id is given, the A. & P. takes possession and pays
2,280,291
Maintenance of equipment___ 1,461,896
1,409,732
1,335,719 6 per cent per annum on the $7,271,000. The same negotiation gave
Transportation expenses............ 3,560,610
3,777,357
4,128,340 a right by contract to run through trains to San Francisco over the
Miscellaneous..........................
670,856
388,393
410,129 Southern and Central Pacific lines on payment of rental either on a
Taxes............................................
421,378
459,194
492,956 mileage basis or at 3 per cent per annum on $40,000 per mile. See V. 39,
Total operating expenses 8,975,976
8,613.911 p. 208; V. 40, p. 50.
8,314,967
The land grant claimed under the old A. & P. charter of July, *66, is
Net earnings................................ 7,315,907
7,256,428
7,370,396
P. ct. of op. expenses to earns..
55-09
53-89 25,600 acres per mile in Territories and 12,800 acres in States. On
53-40
the West. Div. upards of 14,000,000 acr.-s in New Mexico and Arizona
inco ME ACCOUNT.
have been earned by construction, and in the Indian Territory 2,600,000'
Receipts—
1884.
1885.
1886.
Net earnings................................ $7,315,907
$7,370,396 acres more, the best of these lands being well adapted for grazing. The
$7,256,428
Rentals, dividends, &o................
.33,785 proceeds of sales of the company’s lands have so far been applied to pay
28,488
28,012
Other receipts*.............................
142,014
149,743
62 <,859 ment of interest on A. & P. bonds or the lands have been p’ edged and
From land grant trusts..............
170,633 conveyed in trust to the Atchison and San Francisco companies, and188,281
180,188
6,000.000 acres have been so disposed of. For statement as to
Total income..................... . $7,674,690 $7,6:4,371
$8,198,673 nearly
land sales, &o., up to Jan. 1,1887, see Chronicle, Y. 44, p. 751. A
Disbursements—
map
of
the land grant was published in the Chronicle, V. 36, p. 468.
Rentals paid........................ •__
$37,093
$25,500
$20,401
Gross earnings m 1886 were $1,624,649; deflcic under operating ex
Int. on Ac.T.& 8. F.and So. K. bde 1,812,544
1,980,664
2,004,679 penses, $41,3>4; received from A. T. & S. F. RR. Co. and St. L. & S. F.
Interest paid as rental................
866,655
854,930
829,499 R’y Co., to be repaid, $295,000.
Interest on land bonds...............
188,281
180,188
170,633
No annual report since 1881 has been published. (V. 43, p. 48, 2 1 6 ,
Interest on Sonora bonds...........
283,500
283,500 458,
503, 571, 607; V. 44, p. 21, 22, 148, 544, 751; V. 45, p. 340,
Int. on Leav. To & So. W. bonds.
27.600 368, 612.)
Dividends..................................... 3,414,736
3,414,786
3,738.478
Rate of dividend..... ..................
(6
(6)
(6)
A tlan tic Sc St. L a w ren ce.—Owns from Portland, Me., to Island
Sinking funds J.............................
269,716
299,525
311,340 Pond,
Vt. (and branch), 151 miles, there connecting with Grand Trunk
Paid to other ro a d s ....................
241,677
73,227 of Canada,
46,093
to which leased for 999 years, August 5,1853, at a rental
Miscellaneous...............................
25,000
equal to bond interest and 6 per cent on stock. The bonds for $541,
Total disbursements..............$6,830,707
$7,110,186
$7,459,356 000 to city of Portland are provided for by accumulations of sinking
Balance, surplus.......................... $843,983
$504,185
$739,317 fund. The Grand Trunk RR. owns the 2d and 3d mortgage bonds,
* Includes net land receipts Southern Kansas Railway Co., sundry $2,213,000. The stock o f $5,484,000 is mostly £, with dividends pay
profits, and balance of general interest account.
able in London. Gross earnings in 1885-86, $1,002,884; net, $255,814.
i
INVESTOKS’
SUPPLEMENT.
[Vo l . x
l v
.
BONDS
STOCKS AND
RAILROAD
N ovember, 1887.J
18
INVESTORS
SUPPLEMENT.
[Y ol. XLY
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered In these T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
Par Outstanding
of
For explanation of -column headings, &c., see notes of
Stocks—Last
Whom.
on first page of tables.
Road. Bonds Value.
Cent. Payable
Dividend.
$100 $5,484,000
M. & S. London and Portland.
3
Atlantic <&St. Lawrence.—Stock................................. 151
Sept., 1887
100
Savannah.
Augusta & Savannah-Stock......................................
1,032,200
53
3ia J. & D.
June, 1887
1,000
380,000
Bald Eagle Valley—Gen’lmort.,(s. f. $4,000 per yr.>
80 1880
6
J. & J. Phila.,F.Ins.Tr.&S.Dep. Jan. 1, 1910
100 14,792,566
Baltimore <6 Ohio—Stock............................................. 1,783
4
Baltimore, Office.
M. & N.
May l, 1887
100
5,000,000
3
do
do
Preferred stock..........................................................
J. & J.
July, 1887
__
578,000
4
J. & J.
Loan due in 1880, extended....................................
do
do
At win.
1853
....
1,710,000
4
Loan, 1853, extended in 1885.................................
A. & O.
do
do
Oct. 1, 1936
....
1870
1.709,275
do 1870 .sterling, £800,000, sink, fu n d ..........
6 g. M. & S. Lond’n.BaringBros &Co Mar. 1, 1895
....
1855
2,575,000
6
J. & J.
Baltimore loan, 1855-90, sink, fu n d .....................
Baltimore, Office.
1890
£100
6,937,109
6 g. M. & 8. London, J.S.Morgan&Co Mch. 1, 1902
Sterling mortgage, sinking fund............................. 4 ÏÏ 1872
£200
8,141,771
Sterling mortgage, sinking fund............................ 421 1874
M.
&
N.
London,
i.S. Morgan&Co May. 1910
6 g.
1875
520,000
Purchase of Connellsv. BB (payable $40,000y’ly)
6
J. & J.
Baltimore, Office.
1888-1900
£200
7,744,000
Loan,ster.,(s.f.£7,500) (B.O. & Ch.bds collat’l)....... 263 1877
5 g- J. & D. Lond., Baring Bros.&Co. June 1,1927
1,000
104 1879
3,000,000
A. & O. Balt. & N.Y., D. M & Co. April 1,1919
6
Bonds (Parkersburg Branch bonds collateral)__
__
1878
366,000
6
J. & J.
Bonds to State of Maryland.....................................
Baltimore, Office.
July 1 1888
1,000
1887
2,000,000
Equipment loan ($2.500,000) g o l d ....................c.
4ia g- J. & J. Balt., Mere. Trust Co. 10 p. o. yearly
£200
1883
11,616,000
Sterling mortgage on Philadelphia Branch..........
4ia g. A. & O. London, Brown, S. <teCo. April 1,1933
1,000 10,000,000
5 g. F. & A.
New York Agency.
Bonds, gold (Pittsb. & Connellsville b’ds collat’l). iso 1885
Feb. 1,1925
1,000
1886
4,500,000
Moi t. on Schuylkill R. East Side RR., gold (guar.)
5 g. J. & D. Philadelphia-, Agency. Deo. 1, 1925
1887
5
Consoliiated mortgage (for $28,00<’,000) ............
(?)
1,000
1,500,000
Baltimore dt Potomac—1st M (tunnel) gold, s. f. 1 p. o.
6 g. J. & J. London or Baltimore. July 1, 1911
1*2 1871
1,000
90 1871
3,000,000
Baltimore.
1st mort., roäd, gold, coupon, s. f. 1 per c e n t.......
6 g. A. & 0.
April 1,1911
1,000
do
92 1875
2,000,000
J. & J.
6
2d. mortgage, income, road and tunnel, reg..........
Jan. 1, 1915
1,000
5,000,000
‘Beech Creek—1st mortgage, gold..... .......................... 129 1886
4 g- J. & J. N. Y., Gr’d Cent. Depot. July 1, 1936
1887
300,000
5
■Car trust le a n .........™....... .......... .........................
$37,500p.ahn.
....
52 1880
220,000
J. & J. N. Y. St. L.A.&T. H. RR. July, 1, 1910
Belleville <£El Dorado—Is t(int. guar. 8t.L.A.& T.H.)
7
....
52 1880
330,000
F. & A.
do
do
6
2d mortgage........ ...................... — - ........................
Aug. 1, 1920
1,000
56 1866
1,041,000
A. & O. N.Y.St. L.A.&T. H. RR. Oct. 1, 1896
Belleville <6 South. III.—IstM . (int. & s.f, guar.).......
8
....
25
550,000
5
Bells Gap.—Stock........ . . ; ....... ....................... ............
Jan. I, 1887
....
1873
250,000
J. & J Phil.,Cassatt,Town.&Co July 1, 1938
7
1st mortgage.......... ............................................... -I.
....
1875
100,000
F. & A
do
6
Extension 1st mortgage.................................. .
Aug. 1, 1059
....
1883
189.000
A. & O
6
Consol, mort. (for $550,000)............................ . . . . .
April 1, 1119
1.000
64 1877
1,000,000
Belvidere Del.—1st mort. due 1877, extended, guar.
6
J. & D. Philadelphia. Pa. RR.
1902
A u gu sta & S a v a n n a h .—Owns from Millen to Augusta, Ga., 53
1833^84. 1884-85. , 1885-86. 1886-87.
miles. Leased to Ceiitrai of Georgia for . 5,000, per annum Has no
Total grain, of all
bonded debt.
k in d s............... hush, 11,553,052 13,048,258 13,718,428 12,977,035
Live s t o c k ............. tons,
82,187
67,890
70,220
43 220
Bald. E agle V a lle y .—Owns from Vail Station, Pa., to Lockhayeii
Lumber....................tons,
107,398
86,560
92,831 '76,103
Pa., 51 miles; branch,-Milesburg, Pa., to Bellefonte. Pa., 2*3 miles Through
merchandise—
Snowshoe to Sugar Camp, 26^ miles; total operated. 80 miles. Opened
East and W est....tons. 2,275,252 2,333,147 2,731,119 3,537,207
December 7,1864, and leased to Pennsylvania Railroad Company for 99
In 1886-87 the. net balance over all charges was $36,258, whioh was
years. The branch is the property Of the lessors. . Rental, 40 per cent
of gross earnings. Gross earnings in $1885, $163,156; net, $231.719 carried to surplus.
The gross and net earnings of the main stem and its branches and of the
Gross in 1886, $103,529; net, $208,427. Stock is $935,000 (par $50),
land dividends, are paid according to earnings. In 1886 paid 10 per other divisions for the last fiscal year, as compared with 1385-36 were:
cent.
*—Earnings, 1885-86.-— — Earnings, 1886-87.-—
Gross.
Net.
Gross.
Net.
B altim o re & O h io —(See Map).—L ine of R oad—The B.& O. system Main stem, etc............. $9,846,613 $4,026,366 $11,201,348 $4.343 343
embraces roads in Md., Va., Penu., Ohio, Ina. and 111., which are clearly Washington B ranch...
325,329 234,506
380,400
291 561
shown on the accompanying map. Bv means of the Cincinnati Washing Parkersburg Braneh...
663,044 161,347.
676,830
88’ 957
ton & Balt, via Parkersburg, the road has a direct route to Cincinnati. Central Ohio Division. 1,270,476
478.52!
1,283,526 53 L368
The B. & O. mileage is: Main stem, Baltimore to Wheeling, 379 miles, Lake Erie Division.. ..
1,013,014
309,711
1,080,463 291,864
and branches, 272 miles, total, 651 miles; Washington Branch, Relay to Chicago Division......... 2,098,568
269,916
2,070,033
81,122
Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg, Pittsburg Division....... 2,430,085
842,421
2,599,074 1,004,264
104 miles; Qmitr.il Ohio division, Bellaire to Columbus, 137 miles; Lake Wheeling and Pitt. Div.
446,259
13,450
465,610 def 18,930
Erie division, Newark to Sandusky, 116 miles; Chicago division, Chicago Philadelphia Division.
114,767
15,246
718,741 def. 76,220
Junction.,to Chicago, 271 miles;, Pittsburg division, Cumberland to New’k Somerset & St’le
214,291
35,208
183,010
2,575
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling
& Pittsburg division, Glenwood to Wheeling, 66.miles; Straitsville divi
Totals..................... $18,422,437 $6,388,694 $20,659,036 $6,538,904
sion, Newark to. Shawnee, 43 miles; Philadelphia division, 99 miles;
Results on all lines in five years have been:
Lauderburg Branch, 20 miles; total operated, 1,783 miles. The Balti Years.
Gross Earnings.
Operating Expenses.
Net Earnings.
more & 0hio Philadelphia branch, connecting with the Balt. & Philadel. 1882- 83............
$19,739,837
$11,034,014=55-89 p. o.
$8,705,823
RR., makes a line from Baltl to Phila., and thence via the Schuylkill Val. 188384...
19,436,607
11,676,307=6007
«
7,760,300
& East Bide RR. to a connection with the Phila, & Read, lines to Bound 1884- 85........... 16.616,642
10,973,585=6603
“
5,643,057
Brook, N, J. , Thence the proposed route to Staten island, as noted in 1885- 8 6 ........... 18,422,437
12,035,743=65-33
“
6.386,695
Chronicle, V. 41, p. 611.
14.120.161—68 34 “
6,538,904
188687... 20,659,035
Organisation, Leases, &c.—The corporation was chartered in Mary - (V . 43, p. 190, 244, 387, 458, 5 9 3 , 6 0 5 , 635, 671; V. 44, p 89, 343,
land Feb. 28,1827, and in Virginia March 8,1827. First section opened 400, 433 ; V. 45, p. 13, 52, 112, 178, 304, 368, 473, 509, 641, 664.)
May 24, 1830. The company was assisted by loans from the City of
B altim ore & P o to m a c .—Owns from Baltimore. Md„ to South
Baltimore. The relations With the auxiliary branches and leased roads End
Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49
are complex, but the B. & O. virtually owns nearly all of these east of milesLong
: total, 92 miles—including tunnel in City of Baltimore. The road
the Ohio River, and the total oharges for rentals and guarantees are is controlled
by the Pennsylvania Railroad Co., and first mortgage bonds
moderate. The B. & O. Telegraph Co. was operated at a loss, but
uaranteed by Pennsylvania and Northern Central. Capital stock,
its earn ngs, expenses, &c., have not been reported, and after the
3,553,250.
1886, gross earnings, $1,335,844; net earnings; $512,change of .management the telegraphic stock owned by the B. & O. 647; interest In
charge, $283,762; surplus $228,885. In 1885, gross earn
Railroad Co. WR8 sold out to Western Union for $5,009.0 0 Western ings,. $1,323,091;
net, $554,540; interest charge, ,$297,181; surplus,
Union stock at par and a ,rental ¡of $60,009, per year for fifty years.
Income bonds wholly held by Penn. RR. Co. From Jan. 1 to
The B. & O. Express was.sold in {Sept., 1887, to the U. 8. Express Co. $257,359.
Sept
30,
1887
(9
months), gross earnings were $1,063,905, against
The B, & O. Railway Co. had a nominal surplus to credit of income $986,129 in 1886; net,
$395,598, against $392,896.
account 8ept, 30, 1887, of $48,083,720.
Creek.—Jersey Shore, Pa., to Gazzam, 104 miles! breaches
Stocks and B onds—The pref. stock carries 6 per cent dividends only. to Beecli
JETiillipsburg, to. mines, &o.,-25 miles; total, 129 miles. This is suc
The common stock has paid—in 1877, 8 per ceht; in 1878, 8 in stock; in cessor
to the Beech Creek Clearfield & S„ W. This company was formed
1879, 4 stock and 4 cash; 1880, 9; in 1881,1882, 1883, 1884 and 1885; on reorganization
1886 with the above mortgage bonds and $1,300,000
10; in 1886. 8. Range in priees of common stock in Baltimore in 1881 of preferred st ickinand
$3,700,000 common shares $50 each. In Jan.
was 183® 210;ti n ’ 82, I90®202; in ’8 3 ,192%®205 ; in ’84, 167®199; and July, 1887, paid dividends
of 2*a per cent on pref. stock. In L886
i n ’85, 166*2® 185; m ’ 86,150® 191; in ’ 87 to Sept. 16, inch, 120® 180. gross earnings were $379,116; net,
Wm. A. Wallace, Clear
The Baltimore ■& ,0hio direct , bonds .of 1879 on Parkersburg field, ^a., President. (V. 44, p. 362, $163,442.
459;: V. 45, p. 13, 203.) '
Branch are.secured by deposit of mortgage on that road. The sterling
imortgage of 1883 is made to William F. Burns, John Gregg and T. Har
B ellev ille & E l D orad o.—An extension of Belleville & So*Illinois,
rison Garrett, trustees, and secured also, by. pledge of £L,000,000 1st from Hu Quoin to El Dorado, 52 miles, and leased to St. L. Alton & I'erfe
Imart, bonds of the Balt. & Phila. RR. v^Ma. State line to Phila.) The Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, add
bonds of 1877, due 1927, are secured by the mortgage bonds of the B. 15 per cent on all above th a t. amount. Rental received for 1884,
O, & Chic, roads deposited as collateral. The B . & O. bonds of 1885 are $15,171; for 1885, $15,463; for 1886, $15,707. . Stock, $1,009,000.
Secured by $10,000,000 2d consol, bonds of, Pittsburg & Connellsville
B elleville & Southern Illin o is .—Owns from, Belleville, 111., to
RR., deposited with Union Trust Co. qf N. Y. as trustee. The bonds of
the Schuylkill Val. & East Side RR. are guaranteed by B. & 0 . ; the Duquoin, 111., 56 miles. It was leased Oct. 1,1866, to the St. Louis Alton &
Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings
Pennsylvania Co. for Insurance on Lives, Ac., is the trustee.
The general purpose and certain details of the consolidated mort- up to $7,000 per mile (except on coal, &e.), 30 per cent above $7,000 and
up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
gage o f 1887 for $28,000,000 were in V. 45, p. 368.
Rental fqrl884, $158,799; for 1885, $157,917; for 1886, $166,108. In
Operations, F inances, &c.—The syndicate transaction in September, terest on bonds, and sinking fund $5,000 per year, guaranteed by. lessees
1887, by which $5,000,Odo of consol 5 per cent bonds and $5,009,000 Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-eumuo f pref. stock were negotiated to pay off floating debt, and the execu lative. Dividends on preferred stock past four years have been—5 in
tive control of the road was changed, was reported in the Chronicle, V. 1886; 5 in 1885; 5 ^ in 1884; 6 ^ in 1883; 5 ^ in 1882q 4 1« in 1881.
45, p. 304, 368.
B ells G ap,—Bellwood, Pa., to Irvona, Pa., 26 miles. Gross earnings
Fiscal year ends Sept. 30. The annual report for the fiscal year end
ing Sept. 30,1887, was in the chronicle of Nov. 26, hut gave no par in 1864-5, $146,036; net, $78,830; interest paid, $34,479; dividends,
$16,500;
surplus, $27,851. Gross earnings in 1885-86, $160,252; net,
ticular information concerning the company’s financial affairs or the
$78,23b. Of the consol, mortgage $350,000 is reserved to retire prior
events that led up to the syndicate negotiation.
issues.
Stock
was increased in 1883 to $550,000. Chas. F. Berwind,
The general traffic in four years past is shown by the following table
Pres., Philadelphia.
of tonnage carried:
. B elvidere D e la w a re .—Owns from Trenton, N. J., to Manunka
Goal and coke carried—
1883-84. 1884-85.
1885-86.
1886-87.
On main stem (tons)... 3,268,521 3,487,170 3,673,488 4,209,477 Chunk, N. J., 67 miles; Miliham Cut-off, 1 mile, Flemington RR., 12
miles;
total operated, 80 miles. Leased to United Companies, and trans
Of which for Co.’s use
439,912
443,544
489,361
553,114
On Pittsburg Div. J___ 2,157,696 2,003,982 2,427,238 2,137,227 ferred to Pennsylvania RR. March 7,1876, by which operated as their
Belvidere
Division, and net earnings paid over as rental. In Feb., 1835,
On Trans-Ohio D ivs....
966,458
909,594 1,329,681 1,168,859
the Flemington RR. Co. was merged in this. The 1st mort. and new 4
p.c.bonds are guaranteed by the United Co’s. In 1885 net earnings were
Total.
6,392,675 6,400,746 7,430,367 7,878,603 $467,670 and interest payments $269,718. In 1886, net, $454,252; in t.,
$263,341. Capital stock, $1,150,000; par of shares, $50.—(V. 43, p. 578.)
Carried to Baltimore—
1883-84. 1884-85.
1885-86. 1886-87.
B en n in gton & R u tla n d .—Owns from Rutland to Bennington ,
Flour....................... hbls.
717,258
766,163
752,150 1,274,542
Wheat.....................hush. 6,415,550 3,383.859 3,437,159 6,600,027 Vt., 57 miles; branch, No. Bennington to New York State Line, 2 miles ;
Com ........................bush. 3.472,940 8,383,859 9,474,275 5,223,770 total, 59 miles. Chartered as West. Vermont in 1845, and consolidated
f
BONDS.
STOCKS AND
RAILROAD
]
N o y e m b k f , 1887
20
INVESTORS’
SUPPLEMENT.
[ V o l . XLV.
Subscriber» w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, Ac., see notes of
Par
of
When
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Bclvidere Del.—(Gont’d )—Cons, mortgage of 1876..
67 1876 $1,000 $1,200.000
7
J. A J. Treasurer. Trenton,N. J. Jan. 1, 1916
Consol. mort., reg„ guar, by Un. Co’s & Pa. R R ...
67 1885-7 1,000
1,250,000
4
Various Philadelphia, Pa., RR. Sept., 1925-27.
Flemington RR. M. bds
12 1876
1,000
250,000
6
J. A J. Treasurer, Tréntoh.N. J. Jan. 1, 1916
Bennington «6 Rutland—1st mortgage.......................
59 1877
1,000
475,000
7
M. A N. N. Y., Union Trust Co. Nov. 1, 1897
Berkshire—Stock............. ............ ............... ..............
22
100
600,000
1\
Q .-J . Stookbridge, Treasurer. July 1. 1887
Boston A Albany—Stock___ ________ . . . . . .
....... 384
100 20,000,000
2
Q. —J.
Boston, Office.
Sept. 30, 1887
Plain bonds, coupon or registered..................... .
1872
1,000
5,000,000
7
<fe A.
do
Feb. 1, 1892
__ 1875 1,000 2,000,000
Loan of 1875, coup, o rre g .......... .
6
J. A J.
do
July 1, 1895
....
Ronds issued to State for its stock............... .
1882
3,858,000
5
A. A O.
do
April
1, 1902
Boston Concord A Montreal—Old pref. stock, guar.. 186
100
800,000
21« M. A N.
Boston, Office.
Nov. 21, 1887
Com. and new pf. stock (newpf. stock is $540,400) 186
100
1,000,000
Sinking fund bonds ($624,000)...............................
1858 100 Ac.
202,000
è
J. A J.
Boston, Office.
Jan. 1,1889
Consolidated mortgage bonds (for $2,000,000)___ 166 1873 200 Ac.
1,947,400
6 A 7 A. A O.
do
do
1893
Improvement mortgage bonds................................ 166 1881
1,000
6
500,000
J. A J.
do
do
1911
Boston A Lowell—Stock................................ ............... 717
100
5,329,400
31« J. A J.
Boston,
at
Office.
July 1, 1887
Bonds................ ...................................................
1872
....
999,500
7
A. A O.
do
do
April 1, 1892
Bonds.............................................................. .
1875
500,000
7
M. A S.
do
do
Maroh 1,1895
Bonds...................................................... ....................
__ 1876
750,000
6
J. A J.
do
do
July 1, 1896
Bonds............... ...........................................................
1879
620,000
5
J. A J.
do
do
July 1, 1899
Bonds.....................................................-.-.¿¿.’. ‘. I .........
1883
250,000
41« M. A N.
do
do
May 1, 1903
Bonds.....................................................
1885
500,000
4
M. A S.
do
do
Sept. 1, 1905
Lowell A Lawr., bonds.,....................
200,000
6
A. A O.
do
do
Oct.
1, 1897
Salem A Lowell, bonds.................................
22ft Qi)0
6
A. A O.
do
do
Oct. 1, 1898
Nashua A Lowell....................................
200000
6
•
•
•
•
1691
Do
do
.............................. .I ...I !
5
....
1900
Boston A Maine—Stock..................................... . . ! " .
100
583
7,000.000
5
M. A N.
Boston, at Office.
Nov. 15,1887
Bonds, coupon and registered.........................
1873-4 500 Ac.
3,500,000
7
J. A J.
do
do
Jan.,1893 A 94
....
Improvement bonds..................................................
1885
926,000
4
F. A A.
1905
Boston A If. T. Air-Inne—Stock, pref. (guaranteed)
54
100
2,933,500
2
A. A O. N.Y..N.Y. N.H A H .Co. Oct., 1, 1887
1st mortgage...........................................................e*
50 1880
1,000
500,000
5
F. A A.
do
do
Aug.
1, 1905
Boston A Providence—Stock....................................
__
68
100
4,000,000
6
M. A N.
Boston, at Office.
Nov. 1, 1887
Bonds to purchase branches, coupon or registered .... 1873
....
500.000
J. A J.
do
do
July 1, 1893
7
fa Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division ter railroads for 50 years from Jan. 1, 1836. were confirmed by vote of
i S8
°Per»ted by the reorganized Bennington & Rutland. Stock stockholders. In June, 1837. a lease of the Manchester <& Lawrence
$1,000,000 authorized (par $50), and $502,000 issued. In 1885-6 gross road was made for 50 years, and a lease of the Boston A Lowell for 99
earnings, $205,922; net, $30.393; interest, $33.250; deficit, $2,857. years was also made, including the lines controlled under lease by that
Gross earuings in 1886-7 were $198,763; net, $24,651; deficit under company—the Boston Concord A Montreal, the Connecticut A Passumninterest, $8,599.
sio, AO.
*
The flsoal year ends Sept. 30. Annual report in V. 43, p. 717.
B e r k sh ir e .—Owns from Connecticut State Line to West Stock"
bridge. Mass., 22 miles. Leased in perpetuity to Housatonio Railroad
INCOME ACCOUNT.
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, &c.
Receipts—
1884-85.
1835-86.
and for this reason the quarterly dividend due in Oct. is usually omitted Gross earnings.............................
$6,232,096
$7,253,881
$2,071099
B o sto n Sc A lb a n y .—Owns from Boston, Mass., to Albany, N. Y.,’ Net earnings.................................
$ :\500,472
202 miles; numerous branches, 103 miles; leased lines, 84 miles; tota1 Rentals, interest, A c....................
279,463
289,809
operated 389 miles. The Boston A Albany was formed (Dec., 1867)
oy the consolidation of the Boston <&Worcester and the Western ran$2,350,553
Total income...........................
$2.790,281
Disbursements—
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 Rentals p a id ...............................
$ ’ ,225,526
$,3 65 ,1 1 7
266,424
the State, and in September, 1883, out of this stock a stock dividend of Interest on debt............................
255,440
10 per cent was made to stockholders. In 1886 another 3 U per cent of Dividends..................................... (8 p. c.) 560,000
O^ap. c.) 665,000
stock was given to stockholders.
158,603
Eastern (under lease)..................
469,724
1 to Sept. 30 in 1886-7 (9 mos.) gross earnings were
Total disbursements.
f g ,925,742, against $3,298,730 in 1885-6 ; net, $3,067,395, against
$2,210,553
$2,755,281
$2,985,259; surplus over fixed charges, $1,811,209, against $1,747,676. Balance surplus...............
$140,000
$35,000
Fiscal year ends Sept. 30; report for 1887 was in V. 45, p. 611.
44» P- 184, 369, 458, 544, 807; V. 45, p. 538
Fassenger Freight (ton)
Gross
Net
Div. 61J ) 43’ P‘ 607’ 7 1 7 ’
Tears. Miles.
Mileage.
Mileage.
Receipts. Receipts.* p. ct.
18834.. 384
167,402,441 374,347,455 $3,148,713 $2,362,836 8
B osto n Sc N ew Y o rk A ir L in e .—Owns from New Haven, Conn.,
1884- 5 .. 384 167,097,784 398,862,058 7,637,982. 2,344,305
8
to Willimantic, Conn., 50 miles; leased, Turaerville to Colchester, 4
1885- 6 .. 384 177,787,439 390,464,378 8,298,733 2,488,345
8
miles; total operated, 54 miles. Formerly the New Haven Middletown
1886- 7 .. 384 191,843,184 406,030,750 8,925,744 2,552,108
8
& Willimantio. A lease was made in Oct., 1882, to the N. Y.N.H. A Hartf.
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
* Net receipts include income from rents, «fee.
-<V .
22’ 163>514» 5 7 8 ; V. 44, p. 212, 586; V. 45, p. 180, 572, interest on the bonds; the common stock is $834,900.
o l 1, ol4 .)
B osto n Sc P rovidence,—Owns from Boston, Mass., to Providence
R. I., 44 miles; branches,20 miles; leased, Attleborough to North Attle
B o sto n Concord Sc M o n tr e a l.—Owns from Concord, N. H., tc borough. 4 miles; total operated, 68 miles. In November, 1887, the
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton directors authorized $2,000,000 bonds to pay floating debt, and agreed
Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased to a lease for 99 year- to Old Colony RR. at 10 per cent yearly
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
on 6tock and a bonus of $1,300,000 cash on execution of lease
. , o ™ 2 l 1884’ leased to Boston & Lowell. Of the sink, fund bonds due (subject to the necessary legislation and the ratification by stockhold
in 1889nthere are outstanding in the hands of other parties, $202,000 on ers’ . Notes outstanding Sept., 1887, were $760,000. In year ending
which interest is paid; the trustees holding $306,000 and the corporation Sept. SO, 1887, gross income was $1,905,495; net, $470,863; surplus
holding $116,000 on which no int. is paid. Fiscal year ends March 31. over interest and dividend (10 per eent), $48.873 In 1885-86, gross.
—(V. 44, p. 525.)
$1,784,805; net, $399,880.—(V. 43. p. 6 0 5 ; V 45, p.438, 612,627,
B o sto n Sc L o w e ll.—Owns from Boston to Lowell, 27 m.; branches- 641, 672.)
Salem A Lowell, 17 miles; Lowell A Lawrence, 12 miles; others 22
B radford B ordell Sc K in z n a —(3-foot gauge)—Mileage from
miles; Middlesex Central, 20 miles; leased—Nashua & Lowell, 15 miles • Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City,
Stony Brook RR., 13 miles; Wilton RR., 15 miles; Peterborough Rail 2 miles; Rew City to Eldred, 12 miles; Simpson to Smethport, 10 m iles;
road, 10 miles; Manchester & Keene RR., 29 miles; Central Mass. 44 total, 39 miles. Stock is $500,000, par of shares, $100. Iff Nov., 1885,
miles; total leased, 126 miles; total owned and leased, 224 miles. Also bondholders subscribed 5 per cent on their bonds to resume payments.
operatesB. Con. & Mon.. 187 miles; No. of N. Hamp., 83 miles, and Con Gross earnings in 1885, $71,897; net, $19,775. Gross earnings in
cord & Claremont, N. H., 90 miles; total in 1885-86, 717 miles.
1886, $74,130; net, $10,226, John J. Carter, Titusville, Pa., Pres’t.
In June, 1884, a lease of the North, of New Hamp. and the Bost. Con
B radford Eldred Sc C uba.—Owns from Eldred, Pa., to Bolivar
& Montreal railroads was made, and control of those roads was then as and Wellsville, N. Y., and branch to Richburg, and Cuba to Little
sumed. In March, 1887, the Northern lease was held void, and the Genesee, 54 miles. Stock, $480,000. There are also 2d mortgage bonds
company resumed possession.
for $60,000, 6s, which were due June 1, 1885. Foreclosure suit begun
In June, 1887, the Connecticut A Passumpsic Road was leased and a in February, 1885. Thus. C. Platt appointed receiver in Oct., L885, and
lease of the B. & L. and all its branches to the Boston & Maine was $28,526 certificates authorized. Gross earnings in 1884-85, $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 1885-86
passed to the Boston & Maine management.
$45,824; deficit, $10,963; interest, $33,600; total deficit, $44,563.
The company had $920,000 notes outstanding Sept. 30.1886. Earn Total deficit to Sept. 30,1886, $90,243. R. G. Taylor, President.
ings, etc,, have been as follow s:
B roo k ly n Elevated.—Line of road from Fulton Ferry and Brook
m+i i
1884-85.
1885-86.
Total income...................................................... $4,037,439
$4,628,386 lyn Bridge via Broadway, Ac., to East New York, 6% miles. This
Operating expenses......................................... 2,623,434
3^184,470 is the Brooklyn Elevated Railroad organized May 29, 1884, as sucoes
sor to the Brooklyn Elevated Railway sold in foreclosure May 12,1884.
The capital stock is $5,000,000; the second mortgage bears 3 per cent
Net income................................................. $1,414,005
$1,443,916
interest till July, 1888 and 5 per cent thereafter. After 1888, if net
Disbursements—
earnings suffice, a sinking fund of one per cent will purchase 2d mort
Taxes.................................................................
$163,204
$170,175 gage bonds at 90, and after 1889 a like sinking fund will purchase 1st
Kents.................................................................
702,543
71-,568 mortgage bonds at 105 —no bonds drawn. The balanoe sheet of Sept. 5,
Interest..................... .......................................
263,282
253,084 1887, was in V. 45, p. 538.
From October 1 to Sept, 30, in 1886-7 (12 mos.) gross earnings were
Total disbursements................................. $1,129,029
$1,141,828 $520,519; net, $229,440; deficiency under charges. $22,491.
Balance........................................
$284,976
$302,087
The
annual report to State Commissioner for year ending Sept. 30
Dividends, 6 per cent......................................
251,151
290,133 1886, gave gross earnings $518,480; net, $139,108; total payments,
$203,772;
net deficit, $64,312. Henry W. Putnam, President.—(Y. 43,
Surplus.................................................... ..
$33,825
$11,954
p. 693; Y. 44, p. 212, 654; V. 45, p. 212, 512, 538, 673.)
- ( V . 43. p. 190,174, 579, 7 7 3 ; V. 44, p. 59,369, 458, 544, 751, 807 • V
45, p. 512, 538.
B r o o k ly n Sc M o n ta u k .—Brooklyn to Eastport, L. I., 67 miles;
branches to Fresh Pond Junction, 1 mile; to Rockawaj, 9 m iles;
B o s t o n & M a in e .—Owns from Boston. Mass., to Portland total, 77 miles. This was first the South Side Railroad of Long
Me., 115 miles; branches, 11 miles; leased—Boston to Mew Hamp. State Island, which was foreclosed Sept. 16, 1874, and reorganized as the
hne 41 miles; N. Hamp. State line to Maine State line 16 miles; Maine Southern of Long Island. On June 3,1879, the property was again sold
State line to Portland 51 miles; Conway Junction to North Conway 73 in foreclosure of the second mortgage, and this company organized.
miles; Worcester, Mass., to Rochester, N. H., 94 m iles; numerous short The preferred stock has a preference of 7 per cent, not cumulative. It
branches, 187 miles; total operated Sept. 30, 1886, includingEast- is leased to the Long Island Railroad for 50 years, from October, 1879,
S ^ V 584 miles, less 3 miles leased. In March. 1883, voted to lease at 25 per cent of the net earnings of the whole Long Island RR. system,
the Eastern RR. of Massachusetts, but after litigation the lease was held including its leased lines. No rental has been reported as paid, and no
to be invalid and a new one was made in December, 1884, on the basis public reports are issued. L. I. RR. guarantees interest on $750,000
stated under title of the “ Eastern” in this Supplement. In Deo , 1885. of the bonds, and both principal and interest on $250,000. Daniel Lord,
leases of the Worcester Nashua A Rochester and the Portland A Roches- President F. B. Lord, Secretary, Now York City. (V. 44,p. 808.)
Novem ber,
1887.]
RAILROAD
STOCKS AND
BONDS.
2 1
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par
For explanation of column headings, Ac., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
41
Bradford Bordell dl Kinzua—1st m ortgage..........
54
Bradford Eidred dl Cuba—1st m ort-------- --------6-9
Brooklyn Elevated—1st mort., gold.. — . . — . . . c
6-9
2d mortgage, 5 per cent after July, 1888, gold.o
77
Brooklyn dl JfontauA:—Stock ($1,100.000 is pref.) ..
77
First mort., guaranteed by Long Island R R — o *
do do
int. guar, by L. I. R. R .....................
171
Brunswick <6 Western—1st mortgage, gold..............
26
Buff.Brad.d Pitts.—Gen.M.,(incl. 10,000 ao.I’d )....
142
Buffalo New York dl E ne—Stock.......................... .
140
firs t mortgage..........................................................
108
Buffalo Rochester <6 Pittsburg.—R A P. 1st mort..
258
R. & P. Consol, mortgage.......................................
R. A P. Income mortgage........................................
R. & P. Equipment bonds (car trust) in 3 series...
67
Buffalo dl Southwestern.—Stock (one-half of it pref. ‘
67
; 1st mortgage bonds, g o ld .........................'..J.........
1,039
Burlington C. Rapids dl Northern—Stock................
369
First mortgage............... .— . .................^...........
73
Iowa City & western, 1st mortgage, guar..........
55
Ced. Rap. I F.A N.W., 1st M., g., guar.,red.aft.’90
177
do
1st M., gold, guar.....................
All
Consol. 1st mort. & oollat. trust, gold, coup. A reg
Cairo Vincennes <6Chic. —1st M. bas., gold (Wabash) 266
114
California Pacific—1st mort., gold (ext’d’d at 4*2)
114
2d mort., end. by Cent. Pao
• 3d, mort. guar, by Cal. Pao.($1,000,000 a re3 s)... 114
78
Camden <6Atlantic—Stock ($880,650 of it pref.)...
78
1st mortgage (extended 2Ó years in 1 8 7 3 ).......
2d mortgage, extended in 1879..............................
Consol, mortgage (thirty years)...........................
31
Camden dl Burlington Co.—1st mortgage...............
1882
1881
1884
1885
1881
1883
1876
1881
1882
1881
Var’s
$500
1,000
1,000
1,000
100
1,000
500Ac.
1,000
10O
1,000
1,000
1,000
1,000
1,000
1877
1,000
100
1876 lOOAc.
1879
1,000
1880
1,000
1881
1,000
1884 l.OOOAc
1881
1,000
1867
1.000
1871
1,000
1875
500
50
1853
1,000
1854
1,000
1881
1.000
1867 500Ao-
B r u n s w ic k Sc W e ste rn .—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This 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. C ity.- (V. 45, p. 512.)
B u ffalo Bradford. Sc P ittsb u rg .—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie A Western for 499 years. Rental, 7 per cent on out
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo N ew Irork Sc B rie .—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.
B u ffalo R o ch ester Sc P ittsb u rg R a ilw a y .—(See Map.) Owns
from Rochester, N. Y., to Clay ville, 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 State Line RR., which were fore
closed in Oct. 1885 and pvrchased 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 delaj ed by litigation till March, 1887.
The prefeired stock of the consolidated company is $6,000,000 (en
titled to 6 per cent dividends, non-cumulative), and common stock,
$ 6,000,000.
In November, 1887, a new mortgage for $10,000,000 was authorized,
of which $6,000,000 should be reserved for prior bonds.
From Oct. 1, 1886, to Sept. 30.1887 (12 mouths), gross earnings were
$1,915,462, against $1,302,014} in 1885-86; net, $547,274, against
$334,048; surplus over interest, taxes and rentals, $172,764, against
deficit of $14,871.
The income accounts of the R. & P. for the years ending Sept. 30 were as
follow s:
Receipts—
1885-6.
1884-5.
$1,299,362
Cross earnings................................................ $1,216,680
Net income (including miscellaneous) . . . . $336,707
$390,357
Disbursements—
Interest...........................................................
348,272
352,106
Rental and miscellaneous............................
117,166
56,128
$465,438
$408,234
Balance................................................. def. $128,731
def. $17,877
Walston H. Brown, N. Y , President.
—(V. 43, p. 218, 369, 398, 579, 608, 634, 738; V. 44, p. 212, 309, 392,
402, 781; V. 45, p, 25, 240, 373, 400, 538, 613, 673.)
B u ffalo Sc S o u tliw estern .—Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 18&0, leased to New York Lake
Erie & Western for 99 vears—at 35 pot cent of gross earnings, bui
interest on bonds guaranteed. Rental in 1885-86, $90,831. When earn
ings have been sufficient a small dividend has been paid on pref. stock.
B u rlin g to n Cedar R a p id s Sc N orth ern .—On Jan. 1 ’87, oper
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division, 81 miles; Deoorah Division, 23 miles; Iowa Falls Division,
430 miles; Waverly Division, 6 miles; total operated, 1,039 miles. The
former company was organ ized as the Burlington Cedar Rapids A
Minn., June 30, 1868. Defaulted Nov. 1,1873. Property sold under
foreclosure June 22,1876, and this company was formed by the pur
chasers. In May, 1885, a decision was obtained by the holders of old
equipment and 2d mortgage bonds of 1874, in the case of Simmons
against this company, holding those bonds to be good against the road,
and giving defendants the right to redeem the property on payment
of amount found to be due, which is about $1,000,000. The case is
pending.
Bonds of the Cedar Rapids Iowa Falls & Northwestern road are en
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem
able at 105 after Oct. 1,1890. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneap. & St. Louis bonds.
In April, 1884, for the purpose of issuing additional bonds for exten
sions, the limit of authorized capital stock was raised to $30,000,000.
The consolidated bonds are dated April 1,1884, andissued at $15,000 per
mile to build new road, _and secured by first mortgage bonds on the
roads built, deposited with the trustee of this mortgage. Tbe roads
thus built to Deo. 31, 18e5, were the Cedar Rapids & Clinton, 82 miles,
$1,200,000bonds; Chicago Decorah & Minnesota, 23 miles, $348,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
Dakota Division, 386 miles, $3,063,000 bonds.
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
creased tonnage in through business, and lower rates on both through
a nd localbusiness. The business of$1887 has opened fairly for the first
$498.000
6
500,000
6
3,500,000
6 g.
1,250,000
3-5
2,000,000
250,000
6 g.
5
750,000
2,500,000
5 g580,000
7
950,000
3h»
7
2,380,000
6
1,300,000
6
3,681,000
478,000
6
810,000
6 A7
2
943,666
1.500.000
6 g.
5.500.000
6.500.000
5
584,000
7
825,000
6 g.
1,905,000
5 g.
4,716,000
5 g.
3,857,000
5g.
2,250,000
4*2 g.
1,600,000
6 g.
3 A 6
3.000.000
2
on
pref
1,257,100
490,000
7 g.
6
497,000
350,000
6
6
350.000
J.
J.
A.
J.
A
A
A
A
D. Bradf’d,Pa., Co.’s Office
J. Last paid July, 1884.
O. N. Y., Cent. Trust Co.
J.
do
M. A S.
M. A S.
J. A J.
J. A J.
J. A D.
J. A D.
F. A A.
J, A D.
....
Various
AD.
A S.
A O.
A 0.
A O.
A J.
A J.
A J.
A J.
A O.
A J.
A O.
A J.
A A.
1,
1,
1,
1,
1932
1932
1924
1915
N. Y., 1st Nat. Bank.
Mar. 1, 1911
Mar. 1. 1911
Jan. 1, 1913
Jan. 1, 1896
June 1, 1887
Deo. 1, 1916
Feb. 1, 1921
Dec. 1, 1922
1921
Various.
Oct., 1885
July 1, 1908
N. Y., Central Trust Co.
do
do
do
do
do
do
do
do
Last paid, Jan., ’84
N.Y.,Eugene Kelly A Co
N.Y., So. Pac. RR. Office
do
do
Camden, Co.’s Office.
Phila., Farm. A M. B’k.
do
do
do
do
Phila.. Penn. RR. Co.
June 1. 1906
Sept. 1, 1909
Oot. 1, 1920
Oct. 1. 1921
April 1,1934
Oot. 1, 1931
Jan. 1, 1912
Jan. 1, 1891
July, 1905
Oot. 1, 1887
March, 1893
Oot. 1, 1904
July 1, 1911
1897
N. Y., Corbin Banx’g Co.
d*
do
None ever paid.
N. Y. L Erie A W. RR.
N. Y. L. Erie A W. RR.
do
do
N. Y., Union Trust Co.
do
do
do
do
Gallatin Bank.
J. A J.
J.
M.
A.
A.
A.
J.
J.
J.
J.
A.
J.
A.
J.
F.
June
Jan.
Oct.
July
three months. What the effects of the Inter-State Commerce law w ill,
be on the earnings can only be surmised, but we should anticipate a de
crease.”
From Jan. 1 to Aug. 31 in 1887 (8 mos.), gross earnings were $1,812,268, against $1,721,803 in 1886; net, $379,275, agst $381,606 in 1886,
For 1886 the annual report in Y. 44, p. 619, gave net income, Ao.
for four years as follow s:
FISCAL KESÜLTS.
1885.
1886.
1884.
1883.
990
990
1,039
713
Miles operated.........
$
Earnings—
$
$
6 9 lfl74
666,922
662,485
654,746
Passenger.................
2,284,542
2,141,646
2.117,949
2,024,175
Freight......................
105,362
117,797
129,178
Mail, express, A c ....
90,859
Tot. gross earnings
Oper exp. and taxes
Net earnings.............
P.o. op. ex. to earn’s.
Receipts—
Net earnings.......
Other receipts___1.
Total income.........
Disbursements—
Interest on debt.......
Const’n A improvem’t
Equipment................
Other expenditures..
2,796,459
1,917,769
3,093,513
2,189,543
2,933,309
2,132,404
878,690
895,377
68-7
68-5
INCOME ACCOUNT.
1884.
1883.
$
$
878,690
895,378
48,596
31,108
903,970
70-77
800.906
72-70
1885.
$
903,970
83,798
1886.
$
800,905
63,252
943,974
909,798
987,768
864,157
521,232
89,942
294,904
44,802
573,663
68,778
10,774
28,617
742,275
70,794
41,925
25,056
749,898
3,042
45,605
8,278
2,863,554
1,968,177
8 J6,S23
880,050
681,832
950,880
Tot. disbursem’ts
def.6,906 sur.227,966 sur. 107,718 sur.57,iJ4
Balance.....................
-(V . 43, p. 516, 745; V. 44, p. 90 184,494, 6 1 9 .)
Cairo V incennes Sc C hicago.—Cairo to Tilton, 111., 258 miles;
branch, St. Franoisville to Vincennes, 8.; total, 266 miles. This was a
consolidation of the Cairo & Vincennes, Danville A 8. W. and St. Franois
ville & Lawrence roads, forming tbe Cairo Division of the Wabash St.
Louis & Pacific. The latter company issued its own bonds seoured on
this road tor $3,857,000, and after default the road was surrendered
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Traoy,
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,lt>7 have been issued. From Jan. 1 to Sept. 30,1887 (9 mos.),
gross earnings were $557,884, against $470,430 in 1886; net, $181,314,
against $106,189. 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, p214, 614.)
C alifornia Pacific.—Owns from Vallejo, Cal., to Sacramento, Cal.,
61 miles; branches—Vallejo Junction to Vallejo, 2 miles; Adelante 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
in excess of that amount. Capital stock, $12,000,000. In 1886, gross
earnings were $1,233,641; net, $374,082.
Cam den Sc A tla n tic.—Owns from Camden, N. J., to Atlantic
City, •60 miles; Atlantic City to Longport, 7 m iles; Phil. Marl. A
Med. RR.; Haddonfleldto Medford, 12 miles; total operated, 79 miles.
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com.
if more than 7. From Jan. 1 to Sept. 30,1887 (9 mos.), gross earnings on
main line and branches were $572,782, against $500,640 in 1886; net,
$155,932, against $136,788.
On main line and branches in 1885, gross earnings were $561,347; net,
$134.143. In 1886, gross, $599,090, net, $129,775; other income,
$20,802, total, $150,578; deduct interest, rentals, Ac., $98,968; sur
plus, $51,610. (V. 44, p. 4 9 4 .)
Cam den Sc B u rlin g to n C ou n ty.—Owns from Camden, N. J.,
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount
Holly, 7 miles; total, 30 miles. Leased tp Camden A Amboy Railroad
Co., and now operated by tbe Pennsylvania Railroad Company, lessees
of United Railroad A Canal Company’s lines. Lease rental, $44,415,
being 6 per cent on stock and bonds, and $500 for organization ex-penses. Capital stock $381,925 and funded debt $350,000. Dividends
in January and July. Gross earnings in 1886, $216,055; net, $63,632,
Canada Sou th ern .—Line of R oad—Main line from International
Bridge to Windsor, Ont., 226 m.; branch, Amherstburg to Essex Centre,
16 mil as ; Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thomas,
Ont., to Courtright, Ont., 63 miles; Erie A Niagara, 31; Sarnia Chatham A
Erie, 7; Canada Southern Bridge A Ferry, 4 ; Toledo Canada Southern A
Detroit, 56, and Michigan Midland A Canada, 15; total of all lines
operated, 436 miles, of which 105 miles are nominally owned by proprie
tary companies under separate organizations.
The Canada Southern Railway Company was chartered in Canada
22
INVESTORS’
SUPPLEMENT
\
[Y ol. XLV,
N ovem ber,
1887,]
RAILROAD
STOCKS AND
BONDS.
Subscribers w ill confer a rreat favor by g iv in g Im m ediate notice o f an y error discovered In these T a b les.
Bonds—Pi'lnci •
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Si ze, or
Amount Rate per When Where Payable, and by Stocks—Last
Par ! Outstanding
of
For explanation of column headings, &c., see notes of
Dividend.
whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Aug.
15, 1887
N.
Y.,
Grand
Cen.
Dep.
F.
&
A.
IH
$100 $15,000,000
Canada Southern—Stock... .
■■* : - VC" • 436
J. & J. N. Y., Union Trust Co. Jan. 1, 1908
5
1,000 13.858,441
1st mort., interest guar, by N. Y. C. & Hud. k iv .. 404 1878
Mar.
1, 1913
M.
&
S.
do
do
5
404 1883 l.OOO&o 5,100,000
2d mortgage, coup, or reg...... ynv;AoY
IH F. & A. N. Y. Office. 59 Wall St An g. 17, 1887
100 65,000,000
Canadian Pacific—Stock (guar. 3 p. o. div. till 93). 4,464
1899
&
1910
Montreal.
Various
5 & 6
1,823,333
Canada Central RR. 1st & 2d mort. bonds
..
Mar. 4, 1902
do
A. & O.
5
7,000,000
Quebec Piov. due on Q. M. O. & O. and N. S. K K ..
Montreal,N.
Y.orLoudon
Oct.
1,
1931
3,527,000
5 g. A. & O.
1881 500 &c
Dand mortgage bonds, gold (redeemable at 110)..
5 g. J. & J. London, Baring B. & Co. July 1, 1915
1885 £100&c 34.998.633
1st mort. debent, sterling........ .........................
June
1,
1916
1,500,000
6 g J. & D. N.Y., Farm. L.<fc Tr. Co.
Cp.FearcC Tad.Val —1stM.,eer.A$10,OCOp.m c &r. 150 1836 $1,000
2,<00,000
6 g- J. & J. N.Y., Farmers’L.& T.Co. Mch. 31, 2000
1,000
Carolina Central—1st mortgage, gold, coup, or leg. 242 1881
July 1, 1915
New York, Office.
6
g. J. & J.
1,200,000
1,000
1881
242
2d mort., gold, income, reg., non cumulative........
July 1, 1910
do
do
6 g. A. & O.
1,500,000
1.000
3d mort., gold, income, reg., non cumulative........ 10» 1881
July, 1911
J. & J.
6
2,250,000
1,000
Carson & Colorado—1st mortgage. Senes “ A , ......
lots 1881
July 1,1913
J. & J.
6
510,000
1,000
* ^ 5 1883
Second Division mort., “ Series “ B. •...............—
1,159,500
50
Catawissa—Common stock ........ — - -...............
3H M. & N. Philadelphia Co.’s office Nov. 18,1887
3,200,000
50
Preferred stock ($2,200,000 is oi 1 pref.)...............
Phila., Phila.& Read.Co. Feb. 1, 1902
6
230,500
1882
1st mortgage.......................... ....................................!
Feb. 1, 1909
do
do
F. & A.
7
1,300,000
1870 50Ò" &c.
Mortgage b on d s.........................................................
589,110
4H J. & J. New York, 44 South st. July 1, 1887
100
Cayuga <£•Susquehanna—S tock -.-..-- —
—
Jan.
2, 1907
N.
Y.,
J.
Ken.
To
i
&
Co.
J.
&
J.
7
1,377,000
1866 500&C.
Cedar Falls <&Minn.—Bonds on 2d div., sink. l a . . .
M. & N. N. Y., 195 Broadway. May 1, 1895
6
1,600,000
1,000
1866
Central Branch Union Pacific—1st mort., goia —
do
do
May
1,
1895
M.
&
N.
630,000
7 g.
1,000
1879
Funded interest bonds (coupons held m trust). ..
U.S. Treas., at maturity 1896,’97, ’98
6
1,600.000
2d mort. (Government subsidy)............................... 100 ’66-7-8 1.000
Savannah,
Ga.
June
22,
1887
J.
&
D.
4
7,500,000
100
730
Central JR. R. <&Bank, Qa.—Stock.............
J. & J. N.Y.Nat.City Bk.,&Sav. Jan. 1, 1893
5.000.
000 7
1,000
620 1872
General mort. “ tripartite” bonds,......••• “ *— ®
New
Kork.
May
1,1937
5.000.
000 5 g- M;. & N.
1,000
1887
Collateral trust bonds, gold, redeem, at 110 .. c
Savannah, Ga.
After 1891
6 ' J. & J.
4.600.000
100
1881
Certificates of debt (for dividend)....................... .
Jan. 1, 1892
New York.
J. & J.
6
987,000
1,000
1882
Ocean SS. Co., guar.. 1st mortgage..................... c
July
15,1899
Last
paid
July,
1886.
J.
&
J.
7
1
3,700,000
5Ó0&C.
Central lowar- 1st mortgage........... ------------------------ 189 1879 500
A. & O. No interest ever paid. 3 mos. notice.
7
629,000
&c.
1880
Debt certificates, issued for overdue coupons—
April
1, 1912
Last
paid
April,
1884
A.
&
O.
6
g.
I
619,000
1,000
1882
1st mortgage, gold, Eastern Division — - ............
1924
A. & 0. Last paid April, 1884
6
612,000
1,0 *0
1882
Til. Division, 1st mortgage ($16,000 p. m.)..........
1912
Last
paid
April,
1884
A.
&
O
6
1
127,000
1,000
1882
1st mort. on branches ($12,000 per mile)..............
and receiver placed in possession April 5,1876. Sold in fore
Feb 28 1868, and the main line opened Nov. 15, 1873. Default Defaulted.
closure May 31, 1880, for $1,200,000. In ’85-86, gross earns, $477,484;
was' made, and a reorganization forming the existing company was net
$151,752;
in ’86-7, gross, $500,266; net, $183,773 surplus over
completed in 1878. Interest on the 1st mort. is guaranteed by the New
&c , $39,190. Wilmington Bridge bonds, $215,000, at 7 per cent,
York Central Railroad Co. for 20 years; but the prmcipal 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 Npv, 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, oufcpf which isto
Carson
&
C
olorad
o.—(3
foot
gauge.)—From
Mound House Nev., to
be paid, first, the operating expenses of both 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-thirds to the Michigan Central and one-third to the Nevada
Mountains and may eventually join Southern Pacific at Mojave.
Canada Southern. Tn 1886 the surplus to C. S. was $107,335; for 6 mos. 8tock, $6,380,040
authorized; $2,760,000 issued. H. M. Yerington,
1887 surplus $170,< -00. For latest reports of earnings see Michigan
Pres’t,
Carson.
Nev.
Central. (V. 43, p. 23, V. 44, p. 21, 584; V. 45, p. 5,25 )
C
a
ta
w
ls
s
a
.—Owns
from Tamanend, Pa., to Williamsport, Pa,, 94
C anadian Pacific. -(S e e M a p .)-The whole road extends from
branch, Summit Station to Silver Brook, 4 miles; total operated,
Montreal to Vancouver on the Pacific coast in. British Columbia, miles;
98
miles.
Leased
from
1,1872, for 999 years to Philadelphia &
2 806 miles. There are branches and auxiliary lines owned of 925 Reading. Rental, 30 perNov.
cent of gross earnings and $8,000 a year for
the whole system 4,651
- — - —------ * -----------— »
company
expenses.
Funded
debt is also assumed by lessees. Seven per
___ued on Jan. 1, 1887. (See
road was opened throughout cent is guaranteed on the preferred stocks. (Y 43, p. 387.)
Cavno-a & Su sq u eh an n a.—Owns from Susquehanna River to
1*883,'leases were made of the Ontario & Quebec system, in Ithaca, N. Y., 34 miles. Leased in perpetuity to Dela. Lack. & West, at
cluding the Credit Valley Railway and Toronto Grey and Bruce, about a rental of $54,600 a year. Dividends on capital, 9 per cent per annum.
590 miles in all, with bridge facilities at Montreal, and in 1886 leased
Cedar F a lls & M in n e s o t a .—Owns from Waterloo,, la., tn Minn.
Atlantic & Northwest ( ee that company).
'
State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
This company was incorporated February 18, 1881. under a charter from January 1. 1867, at $1,500 per mile as a minimum and a con
from the Dominion of Canada. The company had an important oon tingent of 35 per cent of gross earnings from $3,500 to $7,500 pot mile
tract in its charter, receiving from the Government $25,000,000 in cash and of 30 per cent oi any excess over $7,500 per mile. The Dub. & S. O.
as a subsidy, also 25,000,000 acres of land, all to be fit for settlement- (carrying this road) was acquired by 111 Central in 1887. Capital stoek,
The Gov’ t also ^conveyed to the company, free of all cost, 713 miles of $1,586,500. Operations are included in Illinois Central reports. The
road The co. also acq uired 449 miles of road and branches from Montreal minimum rental Is $113,370 per annum. J. S„ Kennedy, President,; N. Y .
west to Callendar, subject to $5,423,333 in liens on those roads.
Central B ran ch U n io n Pacific.—(See Map Mo. PacJ^-Owna from
In Nov., 1883, the Dominion Government gave a guarantee of 3 per Atchison,
Kan., to Waterville, Kan., 100 miles; leased Atchison Col &
cent dividends per annum for ten years on $65,000,000 of stock. Pac.
254 miles ; Atch. J. Co. & W., 34 miles; total operated, 388 miles.
Bv final agreements with the Dominion Government, m April, 188b, a The Un.
Pac.
Cent. Branch was formerly the Atchison & Pike s Peak RR.,
settlement was made discharging all ihe company’s obligations The and was one of
the roads embraced in the act of Congress incorporating
Canadian Pacific Railway Co., through Baring Bros., of Eondon. sold the Union Pacific
RR. The stock is $1,000,000, of . which the Union
$20,000 000 of bonds, the proceeds of which were applied to paying on
owns $858,700. The company received a Government subsidy
apart of the indebtedness of the company to the Government, while the Pacific
of
$1,600,000.
Default
interest was made May 1,1873, but no fore
balance of $9,000,< 0 . was liquidated by transferring 6,793,014 acres of closure took place. It. isonoperated
as a part of the Missouri Pacific
land belonging to the original grant of 25,000,000
system
under
a
25
years
lease,
made Sept., 188o, b y wnioli tne netlearnOf the End grant bonds there are outstanding only the above amount, bugs are paid to Union Pacific as
rental.
In 1886 gross earnings- were
against which are deferred payments on lands sold, amounting to $1^- $1,705,763; net income, $748,357; charges,
$471,3 5 o ; dm dends,
2'3,538. The Government al o holds $1,000,000 of land bonds, which $100,000;
surplus,
$177,002.
For
1885
grosslearnings
*1.85o,are to be canceled. The lands in possession of the company are about 840; net, $591,000; total fixed charges, $513,136; surplus,were
$93,333. In
14,959,718 acres. The bonds are receivable for lands and may be October, 1885- 5 per cent dividend paid. In 1886 paid 10 per cent.
paid off at 110.
■■ .
_______ At.a
Central R R . & B a n k in g Co. ° f G eorgia.- ( See Map )—Savan
From Jan. 1 to Sept. 30, 1887 (9 mos.), gross eam ’ ei were, $7,904,468,
nah, G a , to Atlanta, Ga., 295 m.; branch, Gordon to MiUedgeviBe, 17
against 87,036,786 in 188 - ; net, $2,096,901, against $2,507,0o8.
The annual report for 1886 was published atlength in the Chronicle, m. leased—Augusta & Savannah, 53 miles; Eatonton Branch Railroad,
V. 44, p. 652, 655. The following is a comparative statement of earn 22 miles; Southwestern Railroad and branches, 320 miles; total opera
ted, 706 miles; also takes net rewrite o f f 440 milew more w e n r a t y ings and expenses for the last two years:
separate companies. In 1886 leased the Mobile & Girard RR., 84 miles,
OPERATIONS AND FISCAL RESULTS.
from June 1. In 1881 the lease of the Georgia RRv for 9 9 ,years
1886.
1885.
was taken in the interest of this company and the Louisville & Nashville,
4,464
which operate it on joint account. The company owns also a largointerMiles operated............................................
A>o3aar»
150,466,149 est in 840 miles of connecting lines and the Ocean Steamship Co. of
Pasiengerm ileage........................................................... 1u
2T0 cts.
Rate per passenger per mile.....................
2 '■*5 cts.
Savannah. This company and the Georgia RR. Co. are joint owners of
555,438,159 the Western RR. of Alabama, 138 miles, purchased at foreclosure sale
Freight (tons) m ileage.................................w 6 ,828,166
ITO cts.
»p,r ton
ten per
ner mile.
mile..... ......... .................
1 '■‘■OCtS.
in April, 1875. Total mileage of system, 2,377. The
Rate T
per
bonds were issued jointly by this company, the Macon & Western and
Earnings
850 223
¡13,170,714 the Southwestern. The certificates of debt n f 1881 are in the nature
6,112,380 of guaranteed stock and are payable at option after July^ 8 9 1 . The
798,710 collateral trust bonds (Central Trust Co. of New York, trus.ee) were
Mail, express and misceiianeous
.......
627,404
issued in 1887; see Y. 45, p. 242, abstract of deed and securities de$10,081,804
Total earnings.................................. .
6,378,317 P F rom 'Sent 1 1887, to Sept. 30,1887 (1 month), gross earnings were
Operating expenses .................................
5,i4d,27b
$78o!l34, against $583,457 in 1885-86; net, $364,231, against $248,$3,703,487
Net earnings .................................. ............ $3>
63
2
6
7*The fiscal year ends August 31; the report for 1886 was in V. 43, p.
Per cent of oper. expenses to earnings...
bi-4b
INCOME ACCOUNT FOR 1886.
633'
1882-83.
1883-84.
1884-85.
1885-86.
Net earnings.................................... .............................................nfl» n i l
SR4.977.807 $4,659,082 $3,911,407 $3,916,991
Fixed charges .............................................................................. 3,0b8,042
E xp o se s'.'.':;:::::::: 2:950,115
Surplus.....................................................................................
! 635’444
—(V. 44, p. 59,184, 308, 343, 433, 525, 620, 6 5 2 , 6 5 5 ; V. 45, p. 52,
239,400.)
_
. Cape^Fear
Iiy^eraMon fcornFayette^lle,^
Cape r e a r &
ac Y
l aaadxkiin
n
C., to Bennettsville, S. C., 57 miles; Fayetteville, N. 0-, to Belew s
Creek N. C., 120 m.; Factory branch, 10 m.; total, 187 mil
miles. Road is
additional, and is
la in course ®f
of construcconstruc
projected some 250 miles "additional,
ting b v the-North State Improvement Co., which Co. holds $750,000
2d mort. income bonds. The total stock is $798,925, of
$^41,900
was outstanding April 1, 1887* From ApriL 1 to S©pt. 30, in 1887 (
m os) gross earnings were $1-6,171 against $101,400in 1886; net,
$57.32tf, against $44,616. For fiscal year 1.886-87 gross eailfinOTq^ere
$236,066; net, $111,585; su rp lu s over rentals and interest, 5p4b,/9/.
C a r o lin a C e n tr a l.—Owns from Wilmington, N. C., to Rutherfordton,
N. G?267 miles. Formerly Wilmington Char & Rutherford, chartered in
1855! Succeeded by existing oompany after foreclosure May 3, 1873.
2,851.455
2,211,615
1,922,057
xr«+ 1npattia
Sfi2.027.692 $1,807,627 $1,699,792 $1,994,934
1,913,842
Int.^rentahfand div.. *1,982,517 1,848,491
1,776,369
Surplus.......................
$45,175 Def.$40,864 Def.$76,577 Sur. 81,092
* Dividend in 1882-83, 8 per cent ; in. 1883-84, 6; in 1884-5, 5 p, o.; in
- 8<8V6'463?P°607, 622, 6 3 3 ; V. 44, p. 59,184, 653, 681; V. 45, p. 84, 166,
178, 210, 242, 271, 400.)
Central Io w a .—Owns from Alhia, la., to Northwood, la., 189
mUes; Oskaloosa to I >wa Junction, 184 miles; Grinnell & Montezuma
Branch, 14 miles; Story City Branch, 3 d miles; Newberg Branch, 27
miles • Belmond Branch, 22 miles ; Newton Branch, 28 miles ; leased,
Manlv Junction to Lyle, 20 miles, and tracks at Mississippi River, 3
miles • tro.cka.ie, Iowa. Junction, 111., to Peoria, I I., 3 miles ; leases to
B C R & N RR. Co„ Manly Junction to Northwood, 12 miles; total
INVESTORS’ SUPPLEMENT.
RAILROAD
.N ovember, 1887. J
STOCKS
AND
2 »
BONDS.
Subscribers w ill confer a great favor by giv in g im m ediate notice oi any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Slocks—Last
Rate
per
When
Where
payable,
and
by
par
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.
Central Iowa—(Continued) —
Consolidated mort., gold (for $6,748,000)............. 499 1884 $1,000
Car trust certificates..........................................
74
Central Massachusetts-Stock ($3,852,088 is p ref.).
124 1886
1,000
Mortgage bond?, coup, interest guar.......— ...c *
100
Central o f New Jersey—Stock.........- ......................... 648
1887 500&C.
General mortgage, gold, coup. (& reg. Q.- J .)---74 1869
1,000
1st mortgage bonds...................................................
....
1872
1,000
Bonds (convertible Nov., 1875 to 1877).............
97 1874
1,000
Consolidated mortgage.........................................-•
1881
1,000
Am. Dock & Imp.Co. new M. bds., guar. C. of N. J. . . . .
. . . . 1883
1,000
Debenture bds.i conv. into stock till 1907.............
137
50
Central Ohio—Stock ($391,700 of this is pref.).......
137
1,000
1st mortgage bonds............................................. .
137
1836
1,000
Consol. 1st mortg. (for $2,850,000), g o ld .......... c
100
Central Pacific—Stock.................................................. 1,340
1st mort., gold, (2 sinking funds, $50,000 each).. 742 1865-8 1,000
50 1864
1,000
Califor. State aid, gold (s. fund, $50,000) extend.
146 1870
1,000
1st m.S. Joaq’n Val. Br., gld (s.f. $50,000).............
U. 8. Loan, (2d lien on certain terms)................. 742
158 1869
1,000
West. Pao., 1st m., s. f., (incl. $111,000 reserved)
West. Pac., Government lien................................... 123 1869
1,000
Cal.&O., lstM .,g.,gu.(to be ext. till 19 Is at5p.c.) 152 1868
141 1872
1,000
Cal. & Oregon Cent. Pac., mortgage s. f ..........
20 1870
1,000
San Fran. O. & A., 1st M. (s. f. $100,000).......
1870
1,000
Land grant 1st mortgage bonds.......................
423 1886
1,000
1st mort. & land grant, 50-year, gold, bds., s.f.
Income bds.($6,000,000), skg.fd.,10 p.c.perann’m
1878
1,000
185 1883 10Ó&C.
Central o f Yermont—Cons. RR. 1st mortgage........
1887
Char. Oinn. <&Chicago-1 s t M., g., ($25,000 p. m )
1,000
1,000
Charleston <&Savannah—Gen. M.., $1,500,000,gold. i 15 1986
191 1869 500 &c.
Charlotte Columbia & Augustar-lst mort. consol..
191 1872
1,000
2d mortgage...........................................................- operated, 513 miles. 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 was made. See ,V. 44, p. 653. Fore
closure sale was made on sept. 17,1887, of the Eastern Division and
branches to James Thompson of New York for the Reorganization Com
mittee; the mam line was sold Nov. 9 to same parties.
In Dec., 18b6, Mr. Ethelbert L. Dudley was appointed receiver.
The fiscal year ends Dec. 31. The income account was as follow s:
INCOME ACCOUNT.
1884.
1885.
1886.
$1,448,259
$1,307,371 $1,305,931
Gross earrings...................
$409,800
$323,894
$153,503
Net earnings......................
Int. on bonds, car trusts,&c
466,998
563,687
630,000
Balance............................... Def. $57,198 Def. $239,792 Det. $477,uOO
—(V. 43, p. 2 1 6 , 4 58,634,671; V. 44, p. 117,211, 551, 633, 712 ; V. 45,
p. 142, 239, 30 3 , 304, 373, 400, 437, 538, 641, 672.)
Central M assach u setts.—This company was organized Nov.
10,1883, by the bondholders who purchased the Massachusetts Central
at foreclosure sale Sept. 1, 1883. Road completed and in operation
Dee. 1,1887, from Boston to Northampton, Mass., 104 miles. Exten
sion to H olyote to be completed in 1888. In Sept., 1886, a lease
was made to the Boston & Lowell for the term of 99 years on the
basis of ka rental of 20 per cent of gross eat nings up to $1,000,000, and
per cent on earnings above that amount, but with a guarantee of suffi
cient «•«ntn.l to pay interest.—(V. 43, p. 274, 367,508,579; V. 45, p. 642.)
Central o f N ew Jersey.—(See Map) —Owns 269 miles, leases 264
miles and operates 116 m iles; total, 648 miles, not including the
*<Switch-back,” 18 miles. The principal leased lines in Pennsylvania
are the Lehigh & Susquehanna and the Lehigh & Lacxawanna, with
their branches, &c. Under the lease of 1883 to Philadelphia & Reading
the minimum rental of Lehigh & Susquehanna was made $1,414,400
and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and
after that $2,043,000. In Feb., 1877, the property was placed in the
haLds of a receiver. A majority of the Lehigh & Wilkesbarre 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 & Improvement
Company is owned by the railroad company, and the right exists to
purenase the bonds by lot at 110. On Feb. I, 1885, default was made in
payment of mortgage coupons, the P. & 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., 1683, holding this lease void and on Oct.
15,1886, Messrs. J. 8. Kennedy and Joseph 8. Harris were appointed re
ceivers, and resumed possession Jan. 1,1887.
In June, 1887, a plan for complete readjustment of the debt was pro
posed, under which the gold mortgage for an authorized amount of
$50,060,000 was issued. See abstract of mortgage V. 45, p. 402.
Tne full statemeut of the company’s proposal to each class of debt,
with status, &c„ was given in V.44, p. 714, 716.
From Jan. to Sep .30 in 1887 (9 mos.)gross eamiugs were $8,626,374,
again-1 $7,729,723 in 18s6; net $4,1.13,446, against $3,249,887.
Inthe years ending Nov. 30,1884,1885 and 1886, theP. &R. Co.,lessee,
reported gross receipts, net, fixed charges, including 6 per cent guaran
teed dividend, on this road as follow s:
1883-4.
1884-5.
1885-86.
$10,300,466
$10,690,719
Gross earnings...............$10,441,095
Expenses.........................
5,995,114
5,699,200
6,000,013
Net earnings.............
t „ id 5 Fixed charges ...
" e6B j Divi’ds (if paid)..
$4,445,980
$4,806,420
1,113,792
$4,601,266
$4,825,851
1,113,792
$4,690,706
$4,847,000
1,113,792
$5,920,212
$5,939,643
$5,960,792
Deficit for the year......... $1,474,231
$1,338,377
$1,270,086
—(V. 44, p. 21, 275, 362, 466, 525, 544,620, 7 1 /, 714, 716, 781, 808; V.
45, p. 25, 112,113,135, 166, 271, 304, 402, 509, 572, 613.)
C entral OliIo.-^Dwns from Bellaire, Ohio, to Columbus, Ohio
137 miles. CharfcOTea in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1,1926, with the option of renewing for terms of 20
years perpetually. The consol, mortgage (Meroanti'e T ru st* Deposit
t ompany of Balt., trustee ) is for $2,850,000 at 4*2 per cent, running till
1 9 3 o; the Baltimore & Ohio Company received $1,000,0C0 of tbese
bond for improvements on the Central Ohio. In 1885-86 gross earnings,
$1,270.476; net, $478,523; surplus over rental, $33,857. The road
between Newark & Columbus (33 miles) is owned jointly with the
Pittsb. Cin. & St. Louis RR. Co. (V. 43, p. 102.)
C entral P acific.—(See Map o f Southern Pacific.)—L ine op R oad —
—Main line—San Francisco, Cal., to Ogden, Utah, 883 miles,
branches, 408 miles; Stockton & Copperopolis Railroad, 49 miles;
$4,430,000
503,000
7,245,988
2,0 )0,000
18.563.200
20.352.200
5,000,000
1,300,000
4,000,000
5,000,000
780,000
2,704,250
1,842,000
1,000,000
68,000,000
25,883,000
284,000
6,080,000
25,883,000
2.735,000
1,970,000
6,000,000
5,800,000
687,000
4,070.000
12,200,000
3.285,000
6,000,000
2.500.000
1.081.000
2,000,000
500,000
i g-
J. & D. '•acoups, pd. to June,’ 88
5
A. & O.
l!a
5 g. J. & J.
7
F. & A.
7
M. & N.
7
Q .-J .
5
J. & J.
6
M. & N.
3
J. & J.
6
M. & S.
4 1« g. M. & S.
3
F. & A.
6 g. J. * J.
& J.
1 *• J.
6 g. A. & 0.
6
J. & J.
6 g. J. & J.
6
....
6 g. J. & J.
6 g. J. & J.
J. <fe J.
8
6 g. A. & 0.
6 g. A. & O.
8 g. M. & N.
5
J. & J.
5 g- Q - J .
7 g. J. & J.
J. & J.
7
A. * O.
7
June 1 , 1924
Boston Co.’s Office.
Oct. i , 1906
New York, Agency.
do
clo
do
do
do
do
do
do
do
do
Balt., at B. & O. office.
do
do
do
do
N. Y. & San Francisco.
N. Y., So. Pac. RR.
do
do
do
do
U. S. Treasurv.
N.Y., So Pac.Co., Office
U. S. Treasury.
N.Y., iso Pac.Co., Office.
New York & London.
N.Y., So Pac.Co., Office,
do
do
N. y. <fe San Francisco.
N. Y. and San Fran.
Bost.,Am. Loan&Tr.Co.
Bust. 8ate D. & T. Co.
Charleston & New York.
N.Y., First National Bk
do
do
Julv 1. 1987
Feb. 1, 1890
Nov. 1, 1902
Julv 1. 1899
Julv 1. 1921
Mav 1. 1908
July 30,1887
Sept., 1890
Sept. 1,1930
Feb. 1,1884
1895 to ’98
July 1, 1888
Oct. 1, 1900
1895 to ’ 98
July 1, 1899
1899
Jan. 1, 1888
Jan. 1, 1892
July 1, 1890
Oct. 1, 1890
Oct. 1, 1936
May 1, 1888
July 1, 1913
July 1, 1947
Jan. 1, 1936
Jan. 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), which
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 Paciflo Railroad
to Cent. Pacific was relinguished to the same company, The Cent. Paciflo
receives all its net surplus income above annual charges of every sort and
betterments, and a minimum rental of $l,2oO,000 and a maximum of
$3,600,000 (payable annually on May 1), is provided for by the lease,
but this rental is first applicable to the payment of Central Paciflo
floating debt, if any. and no dividends have since been paid on Central
Pacific stock. The total floating debt Deo. 31, 1886, was $3,276,101.
(See abstract of lease, V. 40, p. 480.)
The Charter , L eases, &c.—The C. P. was a consolidation (Aug. 22.
1870) of the Central Paciflo (organized Oct. 8, 1864), California &
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 Paciflo 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
charges for transportation on its account, and also to receive 5 per cent
of the net earnings; the “ Thurman” act of May 8, 1878, directed that
the other one-half of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearly to
the Government for the sinking fund of its debt or 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 and mostly for short dates, and the terms of each
in brief were stated in the Chronicle, V. 37, p. 47.
A consolidation with Oregon & Cal. RR. by an exchange of stook has
been made. (See O. & C. in this Supple vient.)
Stock and B onds—The following dividends on Central Pacific stook
were paid, viz.: In 1877, 8 per cent; 1880, 6 per c en t; 1881, 6 ; 1882, 6 ;
1883, 6 ; and in 1884, 3 per cent. Prices of stock since 1879 have been:
In 1880,63@971a; in 1881. 80te®10278 ; in 1882,8238@971s; in l8 8 3 ;
to61@88;in 1884, 30® 67% ; in ’85,261fld 4 9 ; in ’s6,3s® 51; in l3 3 7 ,t o
Nov. 18, incl., 28:i2®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 of other Huntington lines and accumulate; the bonds
are not called in. The sinking funds amounted Jan. 1,1887, to $9,543,023. The land grant bonds are retired with proceeds of land sales. In
Oct., 18i 6, the land grant and mortgage 50-year bonds (W. E. Brown
and Frank S. Douty, trustees) were created for an authorized
amount of $16,000,000, to take up the $ V 00,000 of 2d M. land bonds
and for other purposes. (See V. 45, p. 179, 241.)
The L and Grant .—The total land granted the Central Pacific and the
California & Oregon companies was about 12,000,000 acres, of which
about 2,240,OuO acres had been sold to Deo, 31, ¡83e In 1886, 284,6 16 acres wer - sold for $292,624 and $367,614 cish w a s received by
the Land Department. Land contracts on nand Jan. 1, 1887, $1,116,658.
Operations, F inances, &c.—The Central Paciflo Railroad had a strict
monopoly of business in the territory ocoupied by it, and for many years
was able to control the traffic. The C. P. stock after paying dividends
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 tse, and Dec. 31, 1886,
tbe net debt yet due from the Cent. Pac. to the So. Pac. i o. was $922,036. The Central ¡Pacific balance sheet of that date gave the following
ileajs of floating debt, v iz : Southern Pacific Co., $822,036; trustees
of lan 1 grant mortgage. $1,413,361; sinking fund suspense, $986,995.
Assets, including cash, $951,247 and $7)6,992 due from tbe United
States, $1,969,725—net floating debt, $1,306,375.
From Jan. l t o Aug. 31 in 1887 (8 mouths), gross earnings on 1,408
miles were $8,516,688, against $7,653,255 on 1,317 miles in 1886; net,
$4,043,8 )9, against $4,041,648 in 1886; surplus over interest, rentals,
&c.. $217,983 in 1887.
The annual report for 1886 showed gross earnings $15,206,137; 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, 400, 459, 553, 781,
782; V, 45, p.52, 142. 166, 178, 179, 241, 340, 4oO, 472. 613.)
Central o f V e rm o n t. -This company was organized in A pril,
18/3, under a charter from Vermont. It has no road of its own, bu t
operates a large mileage under lease. The Cousoliaated BR. of Ver
mont was organized July I, 1884, embracing the former Vermont Cen
tral and Vermont & Canada properties, and was then leased to the Cen
tral Vermont. The stock of the Consolidated Vermont is $750,000 p re
ferred 6 per cent and $300,000 oommon. The stock of the
Central Vermont is $1,000,000. a n l it operafes under lease
the following roads: Consol. RR. of Vt.—Windsor to Rouse’ s
Point, 158 miles; Essex June, to Burlington, 8 ; 8 wanton Juno, to
Province Line, 11; Rutlind RR.—Bellows Falls to Burlington, 120;
Addison RR.—Leicester June, to Ticonderoga, 16; Montreal <ft Vt.
Junction—Province Line to St. Johns, 26: S. S. <fc Chambly R R .—S. 3. &
O. June, to Waterloo, 4 i : Ogd. & Lake Champlain RR.—Rouse’s Point
to Ogdeusburg, 118; New Lon Ion <fc Northern RR.—Brattleboro to
—
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N o v e m b e r , 1887.]
RAILROAD
STOCKS
AND
BONDS.
37
28
INVESTORS’
SUPPLEMENT.
[V ol . XLV.
Subscribers w ill confer a great favor by g tr in g Im m ediate notice o f any error discovered In these T ables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due •
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Charlotte Columbia dk Augusta—(Continued)—
Columbia & Augusta 1st mortgage.........................
1865
$189,500
7
J. & J. New York, 1st Nat. Bk Jan. 1, 1890
Consol, mortg., gold (for $3,000,000).....................
l'.ÒOO
1883
NU.
J. & J.
York Agency.
July 1, 1933
£ g> M. & S. NewNew
Chattanooga Borne dk Col.—1st mortgage, gold........
1,000
*22 1887
(?)
York.
1937
Chartiers—1st mortgage.................................
1,000
23 1871
500.000
A. & O. Philadelphia, Penn R.R. Oct. 1, 1901
l *
Chesapeake dk Nashville —1st m ortgage___
1,000
35 1887
875.000
5 g. F. & A
New York Office.
Aug.
15, 1937
Chesapeake dk Ohio—Purch. money funding bonds... 428 1878
1,000
2.279.000
6 g. J. & J. N. Y Office,MUls B’lding July 1, 1898
1st mortgage, gold, series “ A” ..........................
1,000
503 1878
2,000,000
6 g. A. & O. o
do
do
July
1, 1908
do
do
do “ B” ..........................
9.330.000
428 1878 100 &c.
M. & N. % May coup. pd. in scrip July 1, 1908
$
g- M. & N. N.Y.,
do
do
do ext’d at 4 per c t .......... 428 1878 100 &0.
5.670.000
4 g.
Company’s
Office.
J
ily
1, 1986
do
funding scrip............................ ..
975.000
2d mortgage, cur. (interest in stock or cash).'___
428 187*8 lÓo&e. 10.106,189
J. &'*J. N. Y. Company’s Office, July 1, 1918
*6*
1st mortgage, gold, of 1911, Peninsula Extension
1,000
75 1881
2.000,000
6 g. A. & O.
do
do
Jan. 1, 1911
1st mort., gold, of 1922 on exten. (for $3,000,000)
1,000
1882
142.000
J. & D.
do
do
June 1, 1922
Equipment trust bonds.................................
1,000
Var.
1.209.000
I s ' Various
do
do
Various.
Ches. Ohio dk Southwest.—1st M., gold ($19,000 p. m ) 353 1881
1,000
6.070.000
F. & A. N. Y., 52 Exch’ge Place, Feb.
1, 1911
2d mortgage ($11,000 per m ile)............................
1,000
351 1881
2,768,230
I s - F. & A.
do
do
Feb.
1, 1911
Paducah & Elizabetht’n, 1st M. ($300,000 are 8s) 186 1877
1,000
500.000
6 & 8 F. & A,
do
do
Feb.
1,
1907
Equipment trust bonds for $2,000,000..................
1,000
1882
666.000
6
J. & J.
do
do
Yearly to 1892
Cheshire—Stock, preferred..................................
100
**64
2.100.000
3
J. & J. Keene, N. H., Office.
July
1,
1887
Bonds, not mortgage...........................................
’7*6-’78 500 &c.
800.000
J. & J.
6
Boston, Office.
July 1,’96&’98
Chicago dk A Iton—Common stock.................
100 14,110,800
850
2
Q .-M . N. Y., John Paton & Co. Dec. 1, 1887
Preferred st’ek (7 n. c. y ’rly not cum ulative)....... 850
100
3,479,500
2
Q.—M.
do
do
Dec. 1, 1887
Gen. mortgage, sterling, for £900,000.................. 322 1*87*3
1,000
4.379,850
J. & J. Lond’n,J.S.Morgan&Co. July 1, 1903
1st mortgage..............................................................
220 1862
1,000
2.383.000
? s - J. & J. N. Y., John Paton & Co. Jan., 1893
Joliet & Chicago, 7 per cent, stock.........................
100
38
1.500.000
1%
Q .-J .
N. Y. U. S. Trust Co.
Oct., 1887
St. Louis Jacksonville & Chic., 1st mortgage....... 150 1*864
1,000
2.365.000
7
A. & O. N. Y., John Paton & Co. April. 1894
do
do
1st M. end. by Chic.* Alton
1,000
37 1864
564.000
7
A. & 0.
do
do
April 1. 1894
do
do
2d M. endorsed by C. & A ..
1,000
37 1868
188.000
7
J. & J.
do
do
July, 1898
do
do
2d mortgage (convertible)
1,000
150 1868
44,000
7
J. & J.
do
do
July, 1898
La. & Mo., 1st M. ($439,100 assumed by C. & A.)
1,000
101 1870
1.785.000
7
F. & A.
do
do
Aug.,
1900
do
2d M. (int. guar. C. & A .)......................... 101 1877
1,000
300,000
7
M. & N.
do
do
Nov. 1, 1900
do
guar. pref. stock.....................................
100
329,100
3 ifl F. & A.
do
do
D
ec.
1,
1887
Bonds for K.O.St.L.* C. (1st mort. as collateral). i*6*2 187*8
1,000
2.492.000
6 g. M. & N.
do
do
May 1. 1903
New London, 121; B-attleboro & Whitehall RR.—Brattleboro to Lon tees $700,000 bonds for a grain elevator, but in case of paying them will
donderry, 36; Moutpelier & White River R R —M mtpelier to Barre, 7; take the elevator.
°
Missisquoi & Black River RR,—Eastmans to Bolton Centre, 10; total,
In May, ’85, the company paid in cash one-half of the coupon falling
672 mites.
due and the same in Nov.. ’85 and ’ 36, but paid only one-thira in cash in
In 1886-7 gross earnings, $4,481,607; net earnings, $1,318,675;
and again in May, 1837—the balance of each coupon was
rentals and taxes, $612,532; int., $609,637; real estate purchased, $9,- paid in scrip.
669; balance, $86,835.—(V. 43, p. 274,308; V. 44, p. 433; V. 45, p. 512.) ,<i,ri,^:u"4 8t’ ,183,6 Mr. Huntington issued a circular proposing that the
C harleston C in cin n ati 6c C h ica g o.—(See Map.)—This read as
. , , should have interest reduced to 4 per cent and the principal
projected is being built by the Mass. & South. Con. Co. from Charleston, extended to 1936. the holde s receiving a bonus of 25 per cent in New
B. C., through the States of South Carolina, North Carolina. Tennessee. port News & Miss. Valley Co’s stock; the holders of currency bonds
Virginia and Kentucky, to Ashland, on the Ohio River; 45 miles be were also asked to surrender their bonds in exchange for 125 per cent
tween Rutherfordton, N. C., and Black Station, S. C„ on the R. & D. in said stock. (See V. 43, p. 152 and 514.)
Air Line, were completed and put in operation on April 18,1887, and
O > Oct. 23,1887, W. C. Wickham, the Vice-President, was appointed
105 miles between Black’s Station, 8. C., and Camdtn, S. C., are now rev iv er of the company on a suit by Mr. Huntington. (See V. 45, p.
under construction, to be completed by Jan. 1,1888. On Aug. 2, 1887,
the company voted to take up and cancel the bonds issued under a nsvX
i
ov> aoo/ w muuiuay, giuss eaiiimiifB were
mortgage dated Oct. 1,1886, and to issue the above bonds, covering 879, against $3,025,285 in 1886; net, $1,022,797, against $9167135.
the whole line of road from Charleston to the Ohio River. The coun
The annual report for 1886 was in the Chronicle , V. 44, p. 465.
ties, towns and townships through which the road runs have already
Earnings and expenses have been as follows since 1884:
voted aid to the amount of about $1,500,0 JO, payable in their 6 and £®arsGross Eaxmings. Op’g Expenses. Net E am ’gs.
7 per cent bonds, in exchange for an equal amount of stock. These sub 1884..........................................$3,538,604
$2,499,744
$1,038.860
scriptions are payable as the road is completed. General offices of the 1 8 8 o ........................................ 3,361,235
2,465,812
895,423
company, 45 Broadway, New York.—(V. 15, p. 613.)
I p f ? . ............
4,096,048
2,977,208
1,118,840
C harleston 6c S a va n n ah .—Owns from Savannah, Ga., to Charles —(V. 43, p. 22, 152, 514, 671, 746 ; V. 44, p. 90, 91, 344, 4 6 5 , 551, 781,
ton Junction, S. C., 104 miles; operates—Ashley River branches, 4 miles; 808; V. 45, p. 54,142, 509, 572, 613, 641, 672.)
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was
O hio 6c S o u th w estern .—(See Map o f Newport News
first the Chari. & Sav. R R .; reorganized in 1866 under name of Savan dkChesapeake
Mississippi Valley.- Owns from Elizabethtown, Ky., via. Paducah, to
nah <fc Charleston, and opened March, 1870. Sold in foreclosure June Memphis, Tenn., 352 miles; leased, Cecilian branch of Louisville &
7 , 1880, and present company organized. Stock, $500,000. In addi Nashville, 47 miles. Total operated, 398 miles. In Feb., 1886, leased
tion to the gen. mort. bonis, there are $1,000,000 1st pref. income 7s to the Newport News & Mississippi Valley Company for fifty years. The
and $1,000,000 2d pref. income 7s. Earnings, gross in 1885, $153,799; company purchased the Memphis Paducah & Northern—Paducah to
net, $85,216. In 1886, gross, $482,895; net, $72,418. H. B. Plant Memphis—and the Paducah & Elizabethtown, subject to the $500,000
President. New York.
mortgage on the latter, and leased in perpetuity the Cecilian Branch of
C harlotte C olu m b ia 6c A u g u sta . — Owns from Charlotte, Louisville & Nashville, from Louisville to Cecilian Junction, for $60,000
N. C., to Augusta, Ga., 191 miles. Leases Atl. Tenn. & O. RR., per annum, with option of purchasing it for $1,000,000. Stock—Com
Charlotte to Statesville, 44 miles ; Cheraw & Chester, 29 miles; mon, $6,030,600, and preferred, $3,696,000.
and Chester & Lenoir, 109 miles. The Charlotte Col. & Aug. was a consoli
From Jan. 1 to Sept. 30 in 1887 (9 months), gross earnings were $1,dation (July 9,1869) of the Charlotte & South Carolina and the Columbia 366,677, against $1,186,030; net, $544,703, against $417,684.
The annual reports have shown:
& Augusta. The road has been under the control and management of
the Richmond & Danville since 1878, and in May, 1836, was leased to
1884.
1835.
1886.
said company. None of the new consol, bonds had been issued to Nov. Gross earnings.............
$1,571,155 $1,713,326 $1,717,909
15,1887. Gross earnings in 1885-86, $785,759; net, $257,767; deficit Net earnings........................................ $339,951
$502,531 $656,525
after all interest and rentals. $1,551. In 1884-85, gross earnings, $826,- Interest, rentals, taxes, &c...............
621,180
631,920
674,620
967; net, $364,010; surplus over all oharges, $99,385. Stock, $2,578,000.
—(V. 43, p. 718.)
Balance, deficit...........................
$281,229
$132,389 df. $18,095
C h artiers.—Owns from Mansfield, Pa., to Washington, Pa., 23 m.
Sold under foreclosure, and reorganized in 1867. Leased for 99 years - (V 44, p. 90, 2J4, 344, 7 5 0 .)
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
C h eshire.—Owns from South Ashbumham, Mass., to Bellows
rental is net earnings. Gross earnings in 1886, $217,044; net earnings Falls, Vt., 54 miles; leased, Monadnock Railroad, Wmohendon to
$121,978; in 1885, gross earnings, $137,234: net, $45,556. Capital Peterboro, N H., 16 miles; and 10 miles V erm ont* Mass; total 80
stock, $647,850. First dividend, 2*s per cent, was paid March 1,1887.
miles; but the Monadnock, 16 miles, is not included in the Cheshire
C hattanooga R o m e 6c C olu m b u s.—Owns from Rome to Cedar- earnings, leaving 64 miles operated. $51,000 rental paid to Vt. &
stone, 22 miles; in progress, Chattanooga to Carrollton, 140 miles in Mass, for leased portion of road. Capital stock—common, $53,300, and
all. This company is successor to the Rome & Carrollton RR. There preferred, $2,100,000. In year ending Sept. 30, 1887, gross receipts
are 6 per cent income bonds, non-cumul itive, for $1,400,000, and stock were $670,830 ; net, $219,490; deficit after payment of interest and
$2,800,000. Of the 1st mortgage bonds $150,000 are held to retire that 6 percent dividends, $5,511. In 1885-86, gross $628,072; net, $234,amount of Rome & Carrollton prior bonds outstanding. J. C Clem 439 ; surplus over interest, rentals and 5 per cent dividend on pref.
stock $29,711, against $45,410 in 1884-85 over a 3 per cent dividend.
ents, President.
Chesapeake 6c N ash v ille.—Road owned from Gallatin to Scotts- - ( V . 45, p. 672.)
ville, Tenn., 36 miles, and branch, Gallatin to Hartsville, 12 miies. For
Chicago 6c A lto n ,—L ine of R oad—Joliet to East St. Louis
the construction of the Northern Division, from Soottsville to a point (main), 244 miles; Branches—To Coal City, 30 mnes; Dwight to
near Danville, Ky., about 10 J miles, blocks of $10,000 were offered to Washington & Lac’n, 80 miles; Roodhouse to Louisiana, 38 miles;
stockholders Feb. 10,1887, by a circular of Eugene Zimmermann the Upper Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago
President.
to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total
Chesapeake 6c O h io .—(See Map o f Newport News dk Mississim
leased, 450 miles. Total operated, Dec. 31,1886, 849 miles.
valley.)—Owns from Newport News, Va., to Big Sandy River,?W Va 5u
miles; Newort News to Phoebus, 8 m.; total owned, 5 LI m.- operate
Organization, Leases, Stocks and B onds.—Chartered as the Chic.
only 502 m. Consolidation of Virginia Central and Covington & Ohii
& Miss., Feb. 27, 1847; reorganized under act of Jan. 21,1857, as
and opened through March 1,1873. The present company was orgai
Chic. Alton St. & Louis, and under act of Feb. 16, 1861, the present
izedin July, 1878, as successor of the Chesapeake & Ohio, whiohwa
corporation succeeded to the property, which was sold under fore
sold under foreclosure April 2,1878. The Elizabethtown Lexington , closure in the following year and transferred to new organization in
Big Sandy Railroad connects on the west with the C. & O., and extend
October, 1862. Chicago and St. Louis were connected by the present
to Lexington, Ky.
line in 1864. The annual meeting is held the first Monday in April.
In June, 1886, this road was leased to the Newport News & Miss. Va
The Joliet & Chicago is leased from January 1, 1864, for the
ley RR. Co. for 250 years, the lease being an operating agreement witi
term of its charter, and forms part of the main line. Rental, 7
out obligation on the lessee to pay interest if earnings'are deficient.
per cent on stock.
The St. Louis Jacksonville & Chicago was
The stocks including scrip outstanding were as follows Sep;. 3< leased in perpetuity from April 30, 1868, at a rental equal to 40 per
1887: Common, $15,9 J6.138; preferred stock—first, $8,447,800; secont
cent of gross earnings until the amount reached $700,000, with a mini
1,594,000. The second mortgage currency bonds receive interest i
mum of $240,000 a year, and the company in 1884 was merged with
cash, if the earnings are sufficient, but “ all interest not paid in cas
Chicago & Alton and its stock exchanged for C. & A. stock. (See V. 38,
to be paid in 2d pref. stock.” The holders of first mortgage “ B ” bond
p. 455.) The Louisiana <feMo. River RR. is leased for 1,000 years. Rental,
foreclose till six successive coupons are in default; the serit
35 per cent of gross earnings, but interest guaranteed on second mort
‘ ‘ -A- bonds, secured under the same mortgage, have no legal preferenc
gage bonds and $329,100pref. stock; the other pref. stock is $1,010,by it over the “ B” bonds. The mortgage bonds of 1882 for $3,000,00
000 and common $2,272,700; net rental in 1886, $186,279; surplus
are secured on road from Newport News to old Point Comfort, Va., an above charges, $35,261, applied to floating debt; floating debt unpaid
terminal works ; and on a branch to be built in West Va. from Scar January 1,1887, $128,337. The Kansas City St. Louis & Chicago is
Greek to the O bio River. (See an abstract of the terms of mortgages i
leased to the Chicago & Alton company in perpetuity from Novem
V. 45, P -54.) First preferred stock has prior right to 7 per cent fro:
ber 1,1877. at a rental of 35 per cent of gross earnings. The bonds are
surplus; then 2d pref. to receive 6 per cent. The Ches. & Ohio guarax held by IT S. Trust Company as security for the Chicago & Alton
N ovember, 1887.]
RAILROAD
STOCKS AND
BONDS
2»
30
INVESTORS’
S (JPPLEMENT.
V ol . XLV,
»ubmrriberM will confer a great favor by giv in g im m ediate notice o f any error discovered in these T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPT i()N.
pal,^When Due.
Miles Date Size, or
Amount
Par
When
of
Where Payable, and by Stocks—Last
For explanation of column Headings, esc., see note8 of
Rate per
Dividend.
Whom. —
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Chicago c6 Alton—(Continued) —
$100
Preferred stock, K. C. St. L. & C., guar. C. & A __
.................. - .......
Common stock
do
....
Mississippi Riv. Bridge st’k (7 p. c. guar, by C &A.)
1,000
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold
1877
1,000
Chicago <6 Atlantic—1st mort., gold, $ or £ .............. 249 1881
1,000
2d mortgage (for $5,000,000)..................................
249 1883
100
-Chicago burlington <t Northern.—Stock.................... 360
1st mort, (redeemable at 1 0 5 )................................. 360 1886 500 &c.
1,00 >
Ten-year debentures ($7,250,000)............... ..........
18a6
100
Chicago Burlington <t (¿iiihcy—Btock....................... 4,036
1,000
Consolidated mortgage (for $30,000,000)..........o* 825 1873
1,000
Trust mort. Iowa, dr."atl00& 105 (s.f. l*ap.c.).c<fcr 790 1879
1,000
1882
Bonds Denver extern, d awn at 1 0 (s.f. Ï p .c.).c
1,000
Bonds for Bur & S.W., drawn at 100 (s. f. Ip . c.)..c
1881
1,000
1883
Debenture bonds for Han. <&St. Jo. stock....... c*
North Cross R. R. 2d. M (now 1st), g.,s.f.,$50,000 100 1860
l',000
Trust mortgage (Burlington to Peoria)................c
96 1864
1,000
1872
Plain bonds .......................................................... c*
1,000
Sink fd. bonds (for Albia Knoxv. & D. M. roadb.c
33 1875
1887 1,000&e
Nebiaska extension siuk’g f’ d b’a s .................. c<fcr
Dixon Peoria A Hannibal, 1st..............................c*
45 1869 500 <fec.
1,000
70 1870
Ottawa Oswego & Fox River, 1st.......................c*
Illinois G ran i Trunk, 1st m ort........................... c*
43 1870 500&C.
1,000
Quincy & Warsaw. 1st mort................................. c*
40 1870
1,000
S. fund bonds (St. L. R. I. & Chic. mort, collât )..c 270 1876
1,000
Quincy Alton & St. L. (leased), 1st mortgage___c
46 1876
50 &c.
Burl.<fc Mo. Riv., 1st on r’d &400.000 acres land).c 281 1863
40 ’69-’70 500 &o.
do 1st M. couv. bonds, (5th & 6th series)___
Burl. <feMo. consol. M. 1. gr. (s.f. $180,000)............ 628 1878 600 &c.
1,000
do
Omaha & S.W., is t M., gu. (drawn at 100)
49 1871
1,000
1880
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
1,000
Nebraska Railway consol, mort., guar.................. 133 1877
bonds of 1878 issued to build this road, and a sinking fund of
.$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest 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 right to a non-cumulative
iividend not exceeding 7 per ct. from net earnings, and (after payment
#f 7 on common) also snares with common in any surplus. Prices of
stock have been as follows: Preferred in 1881, 140*153; in 18«2,
130® 146; in 1883,140@150; in I8c4, 142*152; in 1885,147*155; in
1886, 150® 162; in 1*87 to Sept. 16, inclusive, 155@164. Common in
1881, 127®156; in 1882, 127*3 * 14512; in 1883, 128®137*4; in 1884,
118® 140*4; in 1885, 128*140; in 1886, 138*146; in 1887 to 8ept. 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.
jpref. 7, com. 6 *2 ; in 1881 both 8 ; in 1882 both 8 ; in 1883 both 8 ; in
1884, both 10; in 1885 and in 1886, both 8, the periods being changed
from semi-annual to quarterly in May, 1884.
Operations and F inances.—The Chicago & Alton road has been par
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
From Jan. 1 to July 31 in 1887 (7 months) gross earnings were
$4,782,572, against $4,237,494; 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.
IN C O M E A C C O U N T .
1883.
1884.
1885.
1886
Receipts—
$
$
$
$
Net earnings.............
3,713,578 3,575,484 3,380,322 3,409,684
Other receipts..........
284,773
278,818
272,845
282,654
Total................
3,998,351
3,854,302
3,653,167 3 ,632,338
Disbursements—
$
$
$
$
Rentals pa id............
1,208,277
823,565
704.473
701,777
0 mstruo’n, equip.,&c
740,759
292,221
380,702
254,134
Interest on debt.......
700,544
770,683
839,307
836,381
Dividends..................
1,194,184
1,646,840
1,409,750 1,407,224
Miscellaneous...........
86.963
88.263
93.854
102 *1«
Total disbursem’ts 3,03»,/¿w 3,621,»72
3,428,086
3,3ox,v>»2
Balance, surplus
67,624
232,730
225,081
390,706
—(V. 44, p. 275, 3 0 7 , 327; V. 45, p. 25, 304.)
C b ic a g o & A t l a n t i c ,—Opened May 14,1883, from Marion, 0 .,on
line of X. Y. Pa. & O., to Hammond, Ind., 249 miles, and thenoe over
the Chicago & West. Ind. to Chicago, 19 miles. Built as a connecting line
for N. Y. P. & O. and N. Y. L. E. & 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,o00,000. ef which $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
interest due on 1st mort. bonds was defaulted. The 2d mortgage bonds
were largely pledged for N. Y. Lake E. <fe W. loans, partly to Grant &
Ward. In Feb., I 8s 6, 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 of vi arch 19,1887, V. 44, p. 369, by
whicli arrangement the new issue of bonds will be $ 12,000,o00 at A per
cent gold, guarameed by N. X. L. E. & W., and $1 »0,000 only of stock
to be held by tuat company; there will also be $ 10,000,000 of 5 per
cent no »-cumulative income bonds. (V. 43, p. 131,217, 308, 333; V. 44,
p. 21, 173, 343, 369.)
C h ic a g o B u r l i n g t o n & N o r t h e r n .—Owns from Oregon, III.,
to St. Paul, Minn., 348 miles, and track from Fulton to Savanna, 111; total
360 miles. The road was completed Aug., 188«, under Chicago B. & Q.
auspices, as per circular of August 1, 1885 (in Chkonicle, V. 41, p.
160). The Chic. B. & Q. and Chic. & Iowa give a traffic guarantee for
twenty yeai s 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
purchase of C. B. & N. bonds at 105; and after 1896 the bonds may all
be retired at 105. Any 2 i mort. issued must be limited to $10,000 per
mile, and shall provide that, out of the bonds issued tliereunuer, an
Amount equal t > the principal of the debentures then outs;auding
shall be reserved and applied only to their payment. From Jan. 1 to
Bept 30 in 1887 (9 months) gross earnings were 81,786, 413; net earn
ings, $447,766. (V 43, p. 125,217,308, 334,516,619; V.45,p. 210,436.*
C hicago B u rlin g to n dc tgm ncy. —L ine of R oad .—The C. B. &
Q. is on » of the most complex railroad systems iu the U. 8. It has a net
work of lines in 111., Iowa and Neb. The main line extends from Chic.
111., to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
•miles, and from Pacific Junction to Denver, Col., 577 miles,making the
distance 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 Bluffs, 498 miles.
The Extens. to Denver was opened May, 1882. Besides numerous local
¡.roads the company also has its line in Illinois to East St. Louis, and to
-Quincy, connecting with the Hannibal & St. Joseph road (purchased by
$1,750,000
1*2
271,700
3*2
300,000
7
665,000
6
6,500,000
6 g.
2,500,000
6 g.
9.000.
000
9.000.
000 5 * "
2,000,000
6
76,390.505
2
13,986,000
7
12,302,000
4&5
7,968,000
4
4,300,000
4
9,000,157
5
391,000
4 K
653,000
7
547,500
7
373,000
5
12,000,000
4
545,500
8
1,076.000
8
890.500
8
720,000
8
2,325,000
5
840,000
5
4,170,550
7
224,500
8
12,858,000
6
669,000
8
3,347.000
4
385,000
7
Q .-F . N. Y., John Paton & Co.
Chic., 111. Tr. & Sav. Bk.
Chic., Treasurer’s Office
A. <fc O. N. Y., John Paton & Co.
M. <fe N. Last paid May 1, 1884
None paid.
F. & A.
Nov. 1, 1887
May 1, 1886
In 1886
Oct. 1, 1912
Nov. 1, 1920
Aug. 1,1923
N.Y.&Bost., Mer. N. Bk.
do
do
Boston and New York.
N. Y., Bk. of Commerce.
do
do
do
do
do
do
do
do
Frankfort.
N.Y., N. Bk. of Com’rce.
Boston, Co.’s office.
do
do
N. Y. and Boston.
N.Y., N. Bk. of Com’rce.
New York and Boston.
Boston, C. B. & Q Office
N.Y.,Farmers' L.&T.Co.
Boston, Co.’s Office.
N.Y.,Farmers’ L.& T.Co.
N.Y.ife Bost.,Co’s Office.
do
do
do
do
do
do
do
do
do
do
April 1, 1926
Deo. 1, 1896
Dee. 15,1887
Juiv 1, 1903
Oct. 1, 1919
Feb. 1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
Oct. 1, 1890
Jan. 1, 1896
June 1, 1895
May 1, 1927
July 1, 1889
July 1, 1900
Oct. 1, 1890
July 1, 1890
Oct. 1, 1901
Feb. 1, 1896
Got. 1, 189Î3
1889 & 1894
July 1, 1918
June 1, 1896
Jan. 1, 1910
Oct. 1, 189Ì6
A. & 0.
J. & D.
Q.—M.
J. & J.
A. & O.
F. & A.
M. & S.
M. & N.
J. & J.
A. & O.
J. & J.
J. & D.
M. & N.
J. & J.
J. & J.
A. & O.
J. & J.
A. & O.
F. & A.
A &O
J. & J.
J. & J.
J. & D.
J. & J.
A.
0.
C. B. & Q- in 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*3 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 & Shenandoah,
*13 miles. The aided road to St. Paul is the Chic. Bur. & Northern. In
September, 1887, the Denver Utah <& Paciiic (narrow gange), 43 miles,
Denver to Lyons, Col., was purchased.
Organization, &c.—The C. B. * 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 & Quincy in Illinois and the Burlington & Missouri
River in Iowa." In 1880 the Burlington & Missouri in Nebraska
was absorbed. The leased lines are practically owned and there
is no charge for rentals in the income account, except as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate. In
In August, 1885, the agreement was made with the Chio. Bur. & No.
for rhe line to St. Paul, and the Chic. B. & Q. owns $3,000,000 of the
stock of that comp my; see circular in Y. 41, p. 160. The fiscal year
ends Deo. Si. Annual election in April.
Stocks and Bonks —The stock has been rapidly increased for the
acquisition of new lines, and in 1880 a distribution of 20 per cent in
stock was made. Dividends have been: In 1877, 9 per cent; in
1878,10*3; in 1879,8; in 1880, 9*4 cash and 20 stock; in 1881, in
1882, in 1883, in 1884. in 1885 and in 188 8 paid. The prices of stock
have been: In 1881,133*3*182*8; in 1882,120*3*141; in 1863,115%,®
1293s; in 1884, 107*127%: in 1885, 115*3*138*8; in 1836, 428%®
141; in 1887 to Nov. 18, inclu-ive, 1237s®156.
The C. B. & Q. on many of its branch lines 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. Enou#i of the C. B.
& Q. consolidated mortgage is reserved to take up prior debts. The
bonds of 1876 are secured by mortgage bonds (# like amount on St.
Louis Rock Island & Chicago road deposited with trustees. The collateral
trust Nebraska extension bonds o f ’ 87 (New Eng’d Tr. Co., of Mass., trus
tee,) are issued at $20,000 per mile for single track and $10,0 >0 per mile
additional for second tra 'k. See abstract of mirtg. in V. 45, p. 441.
The several sinking funds amounted Deo. 31, 1886, to $1 ¿,062,035,
as fol'ows: For land grant bonds, Burlington & Mo. River KR. (Iowa),
$ 6,375,568; 4 and 5 per cents. To wa Division, $1,198,085 5 percents
for Albia Knoxv. & Des M. RR., $215,764; 5 per cents forSt. L. R. I. &
O RR $624,833; 4 per cents of 1922 (Denver extension). $4 ¡5,358; 4
per cents of 1.921 (Bur. <fe S. W . Rv.), $238,214; B. & Mo. River RR. in
Nebraska 6 per cents of 1918, $2,265.724; B. <& Mo. River i Nebraska
4 per cents of 1910 (A. & N. RR.), $542,043; Republican Valley RR. 6
per cents of 1919, $118,51 <; Lincoln & N. W. RR. 7 per cents of 1910,
933.
Many of the bonds are redeemable (may be drawn) before maturity at
various prices, plus accrued interest, as above stated in tue table The
Bur. & Mo. in Nebraska 6s, due 1918, are redeemable at 100, but this
for the “ exempt” bonds applies only after 1908.
L and Grant .—In Iowa only 12,000 acres remain unsold, and the con
tracts outstanding Dec. 31, ’86, were for $127,680, princioal 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 F inances.—The Chicago Burlington & Quincy Rail
road has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. The company gives no full traffic statistics in its report, and the
mileage of freight and passengers is not known; but corn is the most
important article carried.
'«xlL iL '
From Jan. 1 to Sept 30 in 1887 (9mos.) grosseam gs were $20.290,935
against $19,326,863 in 1886; net, $9.056,176, against $9,135.676.
The anTina.1 report for 1886 was published in the Chronicle, V. 44,
(p. 432». Comparative statistics for four years are as follows:
1883.
1884.
1885.
1886.
Miles ow’d and leas’d
3,224
3,369
3,534
3,914
Miles oper’d jointly.
98
98
113
12?
Total operated..
3,322
3,467
3,647
4,036
F IS C A L R E S U L TS .
1886.
1885.
$
$
Warnings—
$
$
5,631,261
5,286,407
Passenger................
5,285,839
5,339,866
Freight!..................... 19,514,161 18,514,432 19,565,854 10,367,935
1,704,1«! 1,727,212
Mail, express, &o—
1,310,369
1,629,315
Total gro >s earnings 26,110.369 25.483,613 26,556,425 26,728,408
Oper. exp. & taxes.. 13,496,479 14,090,745 14,405,768 14.491,633
Net earnings.............
P.C. of op.ex. to earn
12,613,890 11,392,868 12,150,657 12,236,725
54*22
54*25
51*7
55-3
N o v e m b e r , lbb7.]
RAILROAD
STOCKS AJSrD
BOJSDS.
31
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princ:'.
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due,
Mlles Date Size, or
Amount Räte per When Where Payable, and by Stocks—Last
Par Outstanding
of
For explanation oi column headings, &c., see notes of
Dividend.
Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Chicago Burlington A Quincy—( Continued)—
6
J. &
Boston, Co.’s Office. If Jan. 1 1919
Repub. Valley RR. (drawn at 100) s.f., $14,OOO.o 148 1879 $ 1,000 $1,078,000
Mar. 1 , 1908
7
M. &
1.125.000
do
do
146 1878 lOO&c.
Atchison & Nebraska. 1st mortgage......... - - .........
Jan. 1, 1910
7
600,000
J. &
do
do
72 1880
Lincoln & No’w’n RR. bds (drawn at 100) s. f. 1 p.o.
Jan.
1, 1907
7
5.000.
000
J.
&
do
do
274 1877 1ÓÓ&C.
Kansas City St. Jo. & C. Bl., mortgage .................
A. &
April 1 1902
2.541.000
67 1872
1,000
Chicago A Canada Southern—1st mort., g old .. . . . . .
July
1, 1884
1.095.000
J.
&
London,
England.
Ï*
59 1864
100
Chic. Detroit A Canada Or. Trunk Junction—1st M.
M. &
3.000.
000 3
N. Y., Central Trust Co. Sept. 1. . 188 T
100
Chic. A Bast. III.—Stock.............. - - ............................. 246
6
Deo.
1, 1907
J. &
3.000.
000
New York, 4th Nat. Bk.
1st M.,coup. (s. f. $20,000 after ’8 5 )...................... 116 1877 100 &c.
N. Y., Central Trust Co. Oct. 1, 1934
2.683.000
6 g. A. &
208 1884
1,000
Consol, mdrt., gold (for $6,000,000).....................
2.000.
000
Collateral trust b o n d s ............................................
6*
J. & D. New York, 4th Nat. Bk. Deo. 1, 1931
131.000
" l o 188 i
i*,oöo
C. & E. m . Extension, 1st mortgage......................
6
M. & N. Boston, Globe Nat. Bk. May 1,1920
121.000
7 1880
1,000
Dan. & Grape Creek R R —1st m ortgage................
150.000
Strawn & Ind. State Line bonds, guar......... .
6'g.
& J. New York and London. Jan. 1, 1900
5.444.000
Chicago A Or. Trunks-1st M., $ & £ ($556,000 resrd) 330 188Ó Älöö& o
5
6, 000,000
& J.
Jan., 1922
do
do
1,000
2d m o r t .....,,....................... .......... .......................... 330 1882
e
& J. N.Y., E.P.BeaCh.B’way. Jan. 1, 1910
556.000
66 1880 500 Sco.
Northwest. Grand Trunk, 1st mort.......................
5
&D.
June
1,1936
4,000,000
New
York
Office.
1886
10
g.
1,000
Chicago A Great Western—1st mort., gold................
5
& D.
June 1,1936
1,000
(?)
2d mort-, for $4,000,000.................... .....................
&
J.
Jan.
1, 1936
5
N.
Y..
Met.
Trust
Co.
3.689.000
145
1886
1,000
Chicago A Indiana Coal—1st mortgage.............
& J. N.Y.,Farmers’ L.&T.Co. 1900 & 1901
8
1.750.000
80 1870
1,000
Chicago A Iowa—1st & 2d morts. (1st is $600,000).
1895
8
&
O.
400.000
24
1875
1st & 2d mortgages C. R. & N . ..............................
2%
Oct. 14, 1887
& O.
New York, Offloe.
Too 40,904,261
Chicago Milwaukee A St. Paul—Com. stock .......... 5.298
Oct. 14, 1887
do
31«
& o.
do
100 21,596,900
Preferred st’ck (7 p. c. y ’rly, not cumulative)........ 5.298
do
July 1, 1905
do
7
J.
11,470,000
1,435 1875
1,000
Consolidated mortgage (for $35,000,000)
do
1893
do
J,
7
5,26±,000
370 1863
1,000
1st mort, f Lacrosse Div.)
July, 1897
do
do
J.
7
3.198.000
230
1867
1,000
1st mort. (la. & M.) .......................
do
1894
do
J
7
123.000
49 1864
1,000
1st mortgage (Minnesota Central)
1899
do
do
7
J
541.000
126 1869
1,000
1st mortgage (Iowa & Dakota)....
July
1, 1908
do
do
J
7
3.505.000
234 1878
1,000
1st M.,Ia.&Dak.Ext. ($15,000 p.m.).. .
1898
do
do
&
A.
8
3.674.000
195
1,000
1868
1st mortgage (Prairie du Chien)........
1898
do
do
& A.
7*3
1.241.000
195 1868
1,000
2d mortgage (Prairie du Chien).........
do
do
& J.
7
1,000
215.000
1861
Milwaukee & Western..........................
miles. Capital stock, $1,428,000. This road is controlled by the Chicago
• INCOME ACCOUNT.
Burlington & Quincy, which owns the stock and bonds.
1886.
1884.
1885.
1833
$
$
$
C h ic a g o M ilw a u k e e Sc St. P a u l .—(See Map.)—L ine of R oad .—
$
Receipts—
12,613,890 11,392,868 12,150,657 12,236,725 The company operates a great consolidated system of railroads in Illinois,
Net earnings...........
592,432
615,342 Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the
566,769
324,180
Interest and exch .
985,796
846,771 accompanying map. The main through lines are from Chicago to Mil
1,129,591
1,595,788
Net B. & M. I’d gr’t.
14,533,858 13,089,228 13,728,885 13,698,838 waukee, 85 times; Milwaukee to St. Paul and Minneapolis, via La Crosse,
Total income.......
341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (oppo
$
$
$
Disbursements—
$
153,215 site Prairie du Chien) to Chamberlain, Dak., on the Missouri River, 442
139,604
187,171
144,506
Rentals paid...........
4,391,004 miles; Chicago, via Savanna, on the Mississippi River, to Council Buffs,
4,304,284
4,294,263
4,093,005
Interest on d e b t.. . .
6,110,722 la., 487 miles; Minneapolis to Aberdeen. Dak., 288 miles. On Dec 31,
6,110,572
5,566,484 5,566,580
Dividends................
1886, the mileage in Illinois was 313; in Wisconsin, 1,231: inlow a, 1,511;
8
8
8
8
Rate of dividends..
670,295 in Minnesota, 1,117; in Missouri, 12; in Dakota, 1,114. Total miles oper
646,430
938,064
646,430
Carried to sink’g f ’d
1,000,000 ated, 5,298. On Nov. 1,1887, the line to Kansas City was opened.
1,000,000
500,000
1,500,000
Transf’d to ren’a lf’d
Organization, &c.—The Milw. & St. Paul RR. Co. was organized May
Total disbursements 11,950,425 11,448,532 12,238,436 12,325,236
1,640.696
1,490,449
1,373.602 5,1863, and embraced a number of other companies, including the Mil
Balance,surplus......
2,583,433
—(V. 44, p. 59, 90, 211, 343, 415, 4 3 2 , 466, 518, 525 ; V. 45. p. 52, 210, waukee & Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and
otuers. The Milwaukee & St. Paul afterward purchased the St. Paul St
373, 441, 575.)
C hicago Sc Canada Sou th ern .—Owns from Grosse Isle, Mich., to Chicago Road and others, and built the line from Milwaukee to Chicago,
Fayette, O., 67 miles. On Nov. 1,1879, it was transferred to the Lake and on February 11,1874, the company took its present name. The
Shore & Michigan So. It has a capital stock amounting to $2,667,400 The fiscal year ends Dec. 31. The annual meeting is held early in June*
and a bonded debt of $2,541,000, and owes $2,223,051 overdue coupons.
Stocks and B onds.—The preferred stock has a prior right over the
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. o. 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 olaim on future
6 i3 ; deficit under operating expenses and taxes, $9,443. On October years for such dividend. After payment of 7 on pref. and 7 on com.,
23,1886, a suit in foreclosure was begun. (V. 43, p. 515.)
both classes share pro rata. Dividends paid since 1873 have been as
C hicago D etroit Sc Canada G rand J u n c tio n .—Owns from follows (prior to current year): In 1874, 7 on preferred paid In consol,
Port Huron. Mich., to Detroit Junction, 59 miles. Opened in 1859. bonds; in 1875 no dividend; in 1876, 3% cash on preferred and 14 per
Leased to Grand Trunk of Canada. Earnings in 1886, $237,045; net, cent in bonds; in 1877, 3% on preferred: in 1878,10% on preferred; in
$32,128; paid interest, $65,700, and dividends, semi-annually, each 2 1879, 2*2 on common and 7 on preferred; in 1880,1881,1882, 1883 and
per cent, $43,800; deficit, $77,371, advanced by lessees. Capital stock, 1884, 7 on both; in 1885, 4 on common and 7 on preferred; in 1886, 5 on
$1,095,000. There is also a 5 per cent bond for $691,14L issued to G. common and 7 on preferred.
The range in prices of stocks since 1877 have been: Pref. in 1878,64®
T. RR. Co. The road is owned by the lessees.
in 1879, 743s® 102%: in 1880, 99® 124%; in 1881, 116%®140; in
C hicago Sc E astern I llin o is .—Owns from Dolton, 111., to Dan 84%:
1882,114%®
in 1883,115® 122%; in 1884, 9578®119: in 1885,
ville, 111., 1074« miles; Covington, Ind., to Coal Creek, Ind.. 9 miles; 102® 125; in144%;
1886, 116® 125%; in 1887 to Nov. 18, inch. 110®127%.
Danville to Sideil’s, 22 miles; leases, Dolton to Chicago (use of track C. Common—In 1878.
27%®54%;
in 1879, 343s®82%; in 1880, 66%®
& W. I.), 16 miles; Wellington Junction to Cissna Park, 13 miles; Evans 114%; in 1881, 10112®129:14; in
1882, 96%®128%; in 1883. 9L%®
ville Terre Haute & C. RR., Terre Haute to Danville, 111., 55 miles; Otter 108%; in 1884, 58%®94%; in 1885,
64% ®99; in 1886, 821% ®99; in
Creek to Brazil, Ind., 13 miles ; Danville, 111., to Covington, Ind., use of
1887
to
Nov.
18,
incl.,
69%®95.
track, 13 miles; total operated, 246 miles.
An
abstract
of
the
terms
of
some
of
the
principal mortgages was pub
The Chicago & East Illinois was chartered as Chicago Danville &
in the Chronicle, Y. 45, pp. 85,114, 144 and 212.
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos lished
Of
the
consolidated
mortgage
bonds
of
1875,
enough were reserved to
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877. take up the prior bonds; these bonds may be stamped
and discharged
Under tlie terms of leases the C. & E. 111. guarantees interest on $1,515,- from the sinking fund provisions. The Chicago & Pacific
Western
000 bonds of leased roads. There are $65,OuO of 2d mort. incomes, due Division bonds are issued at $20,000 per mile on new lines built
or ac
1907, yet out.
quired.
The
St.
Paul
&
Chicago,
the
Chicago
&
Milwaukee,
the
Consoli
In April, 1887, a sale was made of nearly the whole stock of this com dated and the Iowa & Minn. Div. bonds are convertible into preferred
pany at 110 to parties interested in the Chicago & Indiana Coal Rail
The terminal bonds issued in 1884 are secured by mortgage on
way (see V. 44, p.458), and in Nov., 1887, a comsolidation was made stock.
terminal property in Chicago and Milwaukee, subject to the lien
with the several branches, preparatory to a merger with the Chicago & the
of the general mortgage on part of the track and terminals in these
Indiana Coal road.
it covers also property quite detached which cost about
For the year ending June 30, 1887, gross income was $1,950,104 cities; hut acquired
some time after the general mort. was marie; also
net, $8o0,042; interest and lentals. $579,756; surplus, $220,285; divi $3,000,000
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
$1,000,000. The Income bonds of 1886
struction and equipment, $606,711. tV. 43. p. 102, 3 9 8 ,4 3 0 ; V. 44, p. are for an authorizedcosting
issue of $5,000,000, and are convertible into
433,458, 553; V. 45, p. 142, 304, 340, 472, 5 0 8 , 642.)
common stock, on notice, 60 days after any dividend day. They
C hicago Sc G ran d T r u n k .—Line of road from Port Huron, Mich., have a sinking fund of 4 per cent, beginmug in 1889, and may
to Chicago, 330% miles; also uses 4 *2 miles of Chicago & West. Indiana be drawn at 105. After ’88. if a majority of the bondholders so request,
and 4 miles Grand Trunk Junction RR.; total operated, 339 miles. This a 2d mortgage shall be 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 & Dak. 7s, due
the fo rmer Port Huron & Lake Michigan and the Peninsula roads, sold in in 1902, and $35,000 Oshkosh & Miss. River 8s, due in 1891; also
foreclosure. Stock, $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, &c.—The mileage and also the stock and debt
business to and from the Chicago & Grand Trunk Road. Gross earnings
this company increased very rapidly in six years, the miles owned
from Jan. 1 to Sepk 30 in 1887 (9 months) were £518,500, against of
2,359 on January 1,1880, against 5,298 on January 1,1887, and
£451,842 in 1886; net, £135,007, against £92,283. Gross earnings for being
the
stock and bonded debt, in round figures, $69,000,000 on J nu iry 1,
1885, $2,6-*l,220; net, $385,553. In 1886, gross earnings, $3,041,40-; 1880,
against $164,118,161 January 1,1887. In June, 1887, *10,090,net, $685,349, all expended in payment of interest, rentals, &c. (V. 000
new common stock was issued for new acquisitions, extensions,
44, p. 400; V. 45. p. 52.)
&c., of which $7,000,000 (12 per cent on their holdings) was allotted to
Chicago Sc Great W estern^—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
An ariicle on the earnings and traffic from Jan. 1 to June 30, *.38 <r
River, with large terminal property. The interest on 1st mort. bonds is was
in
the
C
hronicle , V. 45, p. 592.
i
’
guaranteed by the Wisconsin Central and its allied lines, which enter
From Jan. l to Aug. 31 in 1887 (8 mos.), gross earnings wore $15,Chicago over this road. Stock, $8,0o0,u00.
047,854, against $14,646,201 in 1886, and net earnings, $5,109,892,
Chicago Sc In d ia n a C oa l.—Line of road, Brazil to La Crosse, Ind.> against $5,135,030.
. . .
™
145 miles. In May, 1«87, leased 34 miles of the Chic. & West Mich,
The annual report for 1886 was in V . 44, p.399. The slati tics in
road, La Crosse to New Buffalo. This company acquired at foreclos detail were given in the Chronicle, as follow s:
ure the former Chic. & Great Southern, and in April, 1887, parties inter
OPERATIONS AND FISCAL RESULTS.
y
ested in the C. & I. C. road purchased the stock of the C. & E. 111. RR at
1883.
1884.
1885.
1886.
110. The stock ami orizsd is $6,000,000 common and $4,000,000 pref., Miles opera ted .......
4,760
4,804
4,921
5,298
of which $2,197,800 com. and $1,465,200 pref. have been issued. Divi
dend of 1% per cent payable on pref. stock Deo., 1«87. Gross earn
ings ior year ending June 30,1887, $331,372; net earnings, $174,870;
interest. $14«,732; rental, $3,250; surplus. $24,888. H, H. Porter,
President. (V. 43, p. 66,516, 658; Y. 44, p. 458, 494, 495.)
Chicago Sc I o w a .—Owns from Aurora, 111., to Foreston, 111.. 80
miles; leased, Flagg Centre to Rockford. 24 miles; total operated, 104
INVESTORS’
SUPPLEMENT.
N ovember, 1887.]
RAILROAD
STOCKS
AND
BONDS.
33
Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In tliese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Dae.
Amount Rate per
For explanation of column headings, &c., see notes of
of
par Outstanding
When Where Payable and by Stocks—Last
Road. Bonds. Value.
on first page of tables.
Cent.
Pay’ble
Whom.
Dividend.
Chicago Milw <&St. Paul—( Cant’d)—
St. P.&C.lst M.(Riv. D.)$&£(conv.) ( Seepreced- f
1st M., Chic. & Mil. line.................. S ing page. )
Bonds on Lac’se &Dav. Div., for Day. & Nw. RR.
1st mort, on S. W. Div. Western Union R R ...........
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.& Dak. Div.extens.($15,000 p.m.)
1st M. on Ch. Cl. D. & M...........................................
1st mort, on Wisconsin Valley R R .........................
Prior mort.
do
........................
1st mortgage, Mineral Point Division....................
1st mortgage Chic. & Lake Superior Div................
IstM.Wis. & Minn. Div. ($20,000 p. m.)...............
1st M., gold, on Chic. & Pac.,W. Div., $20,000 p. m.
Chic. & Mo. Riv. Div., lstm ortg., ($20,000 p. m.).
Income bonds convertible........................................
Terminal mort., gold, coup. orreg.(for $5,000,000)
Fargo & Southern, 1st môrtgagë, gold, assumed..
do
incomes.........................................
Dakota & Gt. South'n, 1st, gold ($18,000 per m .).
Chicago dt Northwestern—Common stock................
Preferred st’ck (7 p. c. y ’rly, not cumulative)........
Consol, sinking fund M............................................
Madison extension, 1st mort., sinking fund, gold.
Chic. & Mil., 1st mortgage.......................................
Menominee River, 1st mort., guar..........................
Menominee extension, 1st mortgage, g o la ...........
Gen eons mort., gold, coup, orreg. ($48,000,000)
Winona & St. Peter, 2d mort., guar, by Chic.&N.W.
do
1st M. exten. gld., land gr., s. f ..
Iowa M’ dland, 1st mort., guar, by Chic. & N. W ..
1883.
1884.
Earnings—
$
$
Passenger.................. 5,927,668 5,766,843
Freight....................... 16,365,354 16.128,964
Mail, express, &o....... 1.366,802 1,575,191
130
85
185
212
119
419
417
372
107
107
142
68
230
1,245
77
___
119
....
4,101
4,101
776
126
85
25
120
1,058
137
175
75
1872 $500&c. $3,804,500
1.000
2,393,000
1873
2,500,000
1879
1,000
4,000,000
1879
1,000
3,000,000
1880
1,000
7,432,000
1880
1,000
1,437,000
1880
6,265,000
1880-6 1,000
1.000
6,576,000
1880
1,669,000
1880
1,000
1,106,500
1879
500
2,840,000
1880
1,000
1,360,000
1881
1,000
4,755,000
1881
1,000
1881
1,000 24,540,000
2,049,000
1886
1,000
2,000,000
1886
1,000
4,666,000
1884
1,000
1,250,000
1883
1,000
200,000
1885
1886
988,000
1,000
100 31,367,450
100 22,323,170
1865
1,000 12,654,000
2.977,500
1871 50Ö &c.
1.700,000
1,000
560,000
1876
2,549,500
1871 500 &c.
1872 500 &c. 12,343,000
1,592,000
1870-1 1,000
4,079,500
1871 100 &c.
1,350,000
1870
1,000
1885.
1886.
$
$
5,499,737 5,661,690
17,101,742 17,358,294
1,811,794 1,698,419
Total gross eam’gs 23,659.824 23,470.998 24.413.273 24,718,403
Operating expenses—
$
$
$
$
Maint’nce of w ay*... 2,548,609
2,339,635
2,551,327
2,641,977
Maint’nce of equip’t.
2,489.257 2,574,437 2,430,809
2,327,875
Transp’rt’t’n exp’n’st
8,011,533 8,102,668 8,646,132 8,675,045
Taxes..........................
614,609
702,060
733,545
759,350
Miscellaneous.........
114,029
140,329
150,658
156,017
Tot. operating exp. 13,859,629 14,512,471 14,560,264 14,560,264
9,900,802 10,158,139
Net earnings............. 9,881,787 9,611,369
Pr. ct.op.ex. to earns
58*23
59*05
59*45
58*90
* Includes renewal of track, t Including elevators, stock-yards, per
sonal injuries and damages to property, legal, insurance rent of cars,
trackage, &c.
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
Reciipts—
$
$
$
$
Net earnings............. 9,881,787 9,611,369 9,900,802 10,158,139
Other receipts..........
164,707
82,307
105,939
144.654
Total in co m e .... 10,046,494 9,693,676 10,006,741 10,302,793
Disbursements—
$
$
$
• $
Interest on debt....... 5v373,925
5,918,608 6.096,573 6,241,093
Divs. onboth stocks* 3,212,895 3,321,167 2,394,039 3,053,076
Rate of dividen d...,.
7 both
7 both
7 &4
7& 5
Tot. disbursem’nts 8,586,820 9,239,775 8,490,612
9,294,169
Balance for y e a r.... 1,459,674
453,901 1,516,129
1,008,624
•These are the actual dividends paid in the year, without regard to the
tl me when they were earned.
GENERAL BALANCE AT CLOSE OP EACH FISCAL YEAR.
1883.
1884.
1885.
1886.
^
^
^
sjj
Railroad,equipm’t& cl46,093,665 149,426,734 154,228,775 165,898,616
St’ks& b’ds own.,cost
1,161,980 1,228,283
754,792
877,486
Bills&acc’ts rec’able
1,550,232 1,146,059 1,452,309
768.782
Materials, fuel,& o...
1,223,043 1,483,365 1,543,217 2,048,985
Cash on hand............
3,048,965
2,971,133 4,262,378 4,682,434
111. & Iowa coal lands
944,132
680,475
617,026
583,526
Total assets............. 154,022,017 156,936,049 162,858,497 174,859,829
T/ijsh'if'it’i.P?
©
©
©
©
Stock, com mon......... 30,904,261 30,904,261 30,904,261 30,904,261
Stock, preferred....... 16,540,988 16,540,983 21,540,900 21,555,900
Funded d e b t ............ 96,272,000100,254,000 101,470,000 111,658,000
All other dues&acc’ts 1,711,099
2,093,163
164,958
434,825
Unpaid pay-rolls, &e. 1,732,687
1,610,661
1,729,269
2,249,109
Land department...
1,781,907
___. . .
...*......
............
Income account....... 5,079,030
5,532,981 7,049,109
8,057,734
Total liabilities.. 154,022,017 156,936,049 162,858,497 174,859,829
—(V. 43, p. 387, 399, 472, 572, 608, 635; V. 44, p. 22,117,149, 260, 275,
83, 392, 39 9 , 526, 681, 712, 751; V. 45, p. 85,114,144, 210, 212, 342,
400, 472, 592, 613.;S
•
C h ic a g o & N o r t h w e s t e r n .—( See Map.)—Line of R oad—The Chic.
& Northw. operates 4,101 miles of its own roads and controls 1,339 miles
of the Chic. St. P. Minn. & Om., 723 miles of Fremont Elk. & Mo. Val.;
77 of Wyom. Cent., and 107 of Sioux City & Pac.; total controlled, 6,347m.
The mileage is extensive, and is shown clearly in the accompanying
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
and this forms practically the southern boundary of the whole system,
the company having nothing to the south of that line, with the excep
tion of a few insignificant branches. At the end of the fiscal year, May
31, 1887, the Chic. & Northwestern mileage was made up in the annual
report as follows:Wisconsin Division, 549 miles; Galena Division, 400
miles; Iowa Division, 764 miles; No. Iowa Division, 385 miles; Madison
Division, 509 miles; Peninsula Division, 377 miles; Winona & St. Peter
Division, 448 miles; Dakota Division, 566 miles; total, 4,101 miles. In
July, 1884, the Blair roads, previously leased, were acquired by purchase,
but the Sioux City <fc Pacific and Fremont Elkhorn <fc Missouri Valley (in
cluding Wyoming Central; are operated separately (907 miles) and their
earnings not included in those of C. & N. W., but separately stated in the
annual reports in the Chronicle onp. 130 of V. 43 and p. 178 of V. 45.
Organization, &c.—The Chicago St Paul & Fond-du-Lac Railroad
which was a consolidation of several roads, was sold in foreclosure
June 2,1859, and the Chicago & Northwestern Railway was organized
as its successor. In 1864 the company absorbed the Dixon Rock. &
Kenosha, the Gal. & Chic. Union and the Peninsular RR. of Michigan,
and has since absorbed by consolidation a large number of other roads,
including those which were operated as “ proprietary roads.”
In December, 1882, a controlling interest was acquired in the stock of
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800
shares of preferred and 93,200 shares of com. stock.
In July, 1884, the leased lines in Iowa (Blair roads) were acquired
on the terms stated in the Supplement of June, 1885, and prior issues.
The fiscal year ends May 31. The annual meeting is held early in June.
7 g.
7
5
6
6
6
7
7 &5
6
6
7
5
5
5 g5 g5
5
5 g.
6 g.
6
5 g.
3
1%
7
7 g.
7
7
7 g.
7 g.
7
7 g.
8
J. & J. London and New York.
J. & J.
New York. Office.
J. & J.
do
J. & J.
do
J. & J.
do
J. & J.
do
J. & J.
do
do
J. & J.
do
J. & J.
do
J. & J.
do
do
J. & J.
Boston.
J. & J.
New York. Offlee.
J. & J.
do
J. & J.
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
do
do
J. & J.
do
do
J. & D. New York, Co.’s Office.
Q .-M .
do
do
Q.—F.
do
do
A. & O.
do
do
J. & J.
do
do
J. & J.
do
do
J. & D.
do
do
J. & D.
do
do
M. & N.
do
do
J. & D.
do
do
A. & O.
do
do
Jan., 1902
Jan. 1, 1903
July 1, 1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jan. 1, 1909
July 1, 1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
July 1, 1926
July 1, 1916
July 1, 1914
Jan. 1, 1924
1895
Jan. 1. 1916
June 25,1887
Sept. 22,1887
Feb. 1, 1915
April 1, 1911
July 1, 1898
July 1, 1906
June 1, 1911
Dec. 1, 1902
Nov. 1, 1907
Deo. 1, 1916
Oct. 1, 1900
Stock and B onds.—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 cent;
then common 7 per cent ; then preferred 3 per cent; then common 3 ;
then both classes share. Dividends since 1875 (prior to the current
year) have been: In 1876, 21a on preferred; in 1877, 3*fl 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, 6 ^ on com. and 7*a on pref.; in 1886, 6 on com. and 7 on pref
Prices of stock since 1877 have been as follow s: Common in 1878,
3213@55:i4; in 1879, 4958®94ia; in 1880. 87*8® 130; in 1 8 8 1.117®136;
In 1882,124®150%; in 1883. H 5%®140i8; in 1884, 8Ha® 124; in 1885,
84383115%; in 1886, 10414@12058; in 1887 to Nov. 18, inclusive,
10434®127s8. Pref. in 1878, 59%®791u; in 1879, 767a®108; in 1880,
104® 146*2; in 1881, 131*8®147*2; in 1882, 1363175; in 1883, 134®
157; in 1 884.11731491a; in 1885, 119%®13978; in 1886, 1 3 5 3 1 4 4 ;
in 1887, to Nov. 18, inclusive, 137%® 153%.
The sinking fund bonds of 1879 are secured by a deposit of mort.
bonds, on 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 & Madison RR., $91,000. 7s, due Jan. 1,
1888; Minnesota Valley RR., $150,000. 7s, due 1908 ; Plainview, $100,000, 7s, due 1908; Peninsula Railroad (Mich.). $152,000 7s, due 1898.
The $10,000,000 debenture bonds were issued to pay for the Chicago
St. Paul Minneapolis & Omaha stock; the sinking fund for these bonds
is $200,000 per year from May, 1888, if they can be redeemed at 105.
In June, 1884, the new issue of $6,000,000 5 per cent debenture bonds
was authorized, of which $1,966,500 went for the purchase of Blair
roads and the balance to be used for improvements as required. Any
future mortgage on the property of the company owned at date of these
bonds, shall include them.
The C. & N. W. exten. bonds of 1886 are direct bonds of the C. <&N.
W. Company, secured by the deposit in trust of the 1st mort. bonds of
roads constructed or acquired, at the rate of $20,000 per mile. The
mortgage is for $20,000,000, and the Union Trust Co. of N. Y. is trustee.
In addition to bonds in above table there were live bonds in the sink
ing fund amounting to $1,116,500 May 31,1887.
L and Grant .—The lands of the company have been acquired by the
purchase of the Winona & 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 sold in that year amounted to
$687,637. Net cash receipts were $689,589. The statement of amounts
secured to be paid to the company by outstanding contracts of sale in
force at the end of the fiscal year showed a total o f $1,269,702.
TABLE OF LANDS UNSOLD FOR YEARS ENDING MAY 31.
Name of grant.
1884.
1885.
1886.
1887.
626,811
574,362
373,819
Minnesota........ 685,577Michigan.......... 461,847
443,296
420,428
379,299
Wisconsin........ 308,723
303,165
299,041
297,708
Total.......... 1,456,147
1,373,272
1,293,831 s 1,050.826
Operations, F inances, &o.—The Chicago <fe 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 which over
$21,000.000 was charged off in 1887. (See explanation of this in V.
45, p 160.)
The latest annual report issued (1886-87) was in the Chronicle, V.
45, p. 177, showing the following :
ROAD AND EQUIPMENT.
Tot. miles oper’d
Locomotives___
Passeng,&o.cars
Freight ca rs ....
Allother cars..
1883-84.
3,763
639
449
20,100
435
1884-85.
3,843
672
481
20,103
470
1885-86.
3,948
698
485
20,513
546
OPERATIONS AND FISCAL RESULTS.
1886-87.
4,101
735
507
22,091
558
Operations—
1883-84.
1884-85.
1885-86. 1886-87.
Pass’gers carr’d.
8,623,483 8,403,884
9,140,195
9,709,934
Pass’germileage 256,386,389 231,090,788 239,150,020 254,709,295
R’te p.pass.p.m.
2*40 cts.
2*38 cts.
2*36 cts.
2*29 cts,
Fr’ght(tns) mv’d
8,453,994 8,235,127
8,494,239
9,737,312
Fr’ght (tns) m’gel350,173,773 1416,789,205 1466,892,717 1754,598,596
Rate pr .ton p.m.
1*31 cts
1*19 cts.
1*24 cts.
1*15 ots.
Earnings—
$
$
$
$
Passenger..........
6,153,071
5,498,111
5,646,150
5,820,151
Freight........ .
17,677,866
16,917,394
17,503,244 19,329,484
Mail, express,&o
1,189.687
1,086.551
1,130,206
1,171,681
Gro8searn’s.
25,020,024 23,502,056
24,279,600 26,321,316
Expenses—
$
$
$
$
Maint’ce of way
3,590,917
2,939,253
2,951,880
3,227,245
“
cars, &c
2,418,297
2,193,224
2,048,6.3
2,212,289
Transp. & miscel
8,429,121
7,970,502
8,156,221
8,918,681
672,621
690,928
702,452
712,125
Taxes.................
Total..............
15,140,956 13,793,907 13,859,226
15,070,342
Net earnings....
9,879,668
9,708,149
10,420,374
11,250,974
P.c. exp. to earn.
60*51
58*69
57*08
57*25
INYESTOKS’
SUPPLEMENT.
¡y ou
xlv.
N ovem ber,
1887.]
KAILKOAD
STOCKS AND
BONDS.
35
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered in these Tables.
DESCRIPTION.
Bonds—Prinoi.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par Outstanding
Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent. Payable
Dividend.
Whom.
62 1872 $500&e $3,365,000
Chic. <t N. W.—(Con.)—N. W. Union, 1st M., gold.
7 g. M. & S. New York. Co.’s Office. June 1, 1917
24 1878
Rochester & No. Minnesota, 1st mortgage..........
200,000
7
M. & S.
do
Sept. 1, 1908
141 1882
Chic. Mil. & N. W., construction bonds.................
601,000
6
M. & N.
do
Nov. 1, 1905
154 1880
Chicago & Tomah, 1st mort., guar.........................
1,528,000
6
M. & N.
do
Nov. 1, 1905
80 1880
Milwaukee & Madison. 1st mort., guar.................
1,600,000
6
1,000
M. & S.
do
do
Sept. 1, 1905
Sink. fd.bds.(lst M. as collateral) ($15,000 p. m .).
. . . . 1879
1,000 14,665,000
5 & 6 A. & O.
do
do
Oct. 1, 1929
8. f. debenture bonds (for C. St. P. M. & O. stock)
. . . . 1883 l,000&o 10,000,000
5
M. & N.
do
May 1, 1933
. . . . 1884 l,000&o
Debenture bonds of 1909 (for $6,000,000).......
3,869,000
5
M. & N.
do
do
Nov. 1, 1909
C.& N.W. Exten. bds. ($20,000 per M.)............ c&r . . . .
1886 l.OOO&c 11,852,000
4
F. & A.
do
Aug. 15, 1926
64 1884
Ottumwa C.F.& St.P., 1st M., guar.($25,000 p.m.)
1,600,000
5
1,000
M. & S.
do
Mar. 1, 1909
do
Des Moines & Minneapolis RR. 1st mort. Bonds..
58 1882
600,000
7
1,000
F. & A.
do
do
Feb. 1, 1907
36 1881
Escanaba & Lake Superior RR., 1st m ort...........
6
720,000
1,000
J. & J.
do
July 1, 1901
do
Dakota Central RR., 1st mort...............................
71 1882
1,007,000
6
M. & S.
do
Sept. 1, 1907
do
1st M.. Southeast Div. (for $2,000,000)
125 1882
2,000,000
6
m:. & n .
do
Nov. 1, 1907
North. IU., 1st M. ($20,000 p. m.) guar. C.&N. W
75 1885
1,500,000
5
1,000
M. & s.
do
do
Mar. 1, 1910
....
Other smaU issues (see remarks).......... .................
493,000
do
do
Cedar Rapids & Missouri River, 1st mort............
70 1861 500 &c.
700,000
7
F. & A.
do
Aug. 1, 1891
do
1st mort.............
58 1863 500 &c.
582,000
7
F. & A.
do
Aug. 1, 1894
do
1st mort.............
146 1866 500 &c.
2,332,000
7
M. & N.
do
May 1, 1916
Chicago Iowa & Nebraska, mortgage....................
82 1863 500 &c.
129,000
7
F. & A.
do
Aug. 15,1892
Maple River 1st mortg............................. ............
1877
402,500
7
J. & J.
do
do
July 1, 1897
Fremont Elkhom & Mo.Val.,Consol.bonds..........
è l i 1883
7,725,000
6
1,000
A. & O.
do
do
Oct. 1, 1933
do
do
do
equipment bonds.
....
360,000
6
do
do
Mo.V.&Blair RR.Br’ge, 1st, red’ble aft.’93..........
1883
1.000,000
6
J. & J.
do
do
Jan. 1, 1923
iÖ2 1868 500&C.
Sioux City & Pacific, 1st mortgage.......................
1,628,000
6
J. & J.
do
do
Jan. 1, 1893
do
2d mort. (Gov’t subsidy)...
102 1868 500&C.
1,628,320
6
J. & J. U.S. Treas., at maturity Jan. 1, 1898
do
pref. stock............................
169.000
....
3*9 A. & O. New York, Co.’s Office. Oct. 5, 1887
"86 1886 lOO&o.
Chicago <6 Ohio R iver—1st mort, (for $500,000)...
218,000
6 g - M. & N.
Boston, Treasury.
May 1, 1916
Income bonds, conv. (for $750,000).................... .
1386
618,300
6
M. & N.
May 1, 1916
Chicago Rock Islanddt Pac —-St’ck (for $50,000,000) 1,384
....
Too 46,156,000
Q.—F. New York, Co.’s Office. Nov. 1, 1887
1%
1st mortgage, coup, or reg...................................... 636 1877 l,000&o 12,100,000
6
J. & J.
do
do
July 1, 1917
Chic.& Southw.. IstM.g. (g*d in cur. by C.R.I.&P.) 271 1869 loo &C.
5.000,000
7
M. & N.
do
do
Nov., 1899
___ 1884
Exten. and coHat. bonds ($20,000 p.m.) cp. or re;
1,000 14,960,000
5
J. & J.
do
do
July 1, 1934
INCOME ACCOUNT.
was formerly the Chicago & Southwestern, and was foreclosed and p uv1883-84.
1884-85.
1885-86.
1886-87. ohased by this company, and consolidated June, 1880. The present
Receipts—
$
$
$
$
Chic. R. I. & Pacific was a consolidation June 4,1880, with $50,000,000
Net earnings....
9,879,668
9,708,149 10,420,374
11,250,974 stock authorized, and a scrip dividend of 100 per cent to the holders of
Disbursements—
$
$
$
Chic. R. I. & P. stock. The annual election occurs in June.
$
Rentals paid... .
1,568,704
*28,567
.............
Stock and B onds.—Dividends have been paid as follows since
Interest on debtt
4,527,235
*5,064,534 5,536,363
5,136,198 1876, viz.: in 1877 and 1878, 8 per cent; in 1879, 10; in 1880,
Dividends..........
2,939,469
*3,981,348 3,444,504
3,441,504 8*a cash and 100 p. c. in stock; in 1881. 1882, 1883, 1884, 1885
Rate on p r e f....
8
8
7
7
and 1886, 7. Range of prices of stock was as follows since 1876, viz.: in
Rate on comm’n
7
7
6
6
1877 82*3®105*s; in 1878, 983s®122; in 1879, 119®150*a; in 1880,
MisceUaneous ..
83,000
58,000
58,000
58,000 to July, 149®204; July to Dec. (new stock) 100*2® 143 ; in 1881,129
® 1483a; in 1882, 122@140*4; in 1883, 116*2®127*4: in 1884, 100*4®
Tot. disb’m’ts.
$9,118,408 $9,132,449 $9,038,867
$8,638,702 1 2 6 ^ ; in 1885. 105®132; in 1886, 120*s®131; in 1887, to N ov. 18,
Balance, surplus
$761,260
$575,700 $1,381,507
$2,612,272 inclusive, 109® 140’ s.
The road from Minneapolis west to the juno. with Bur. C. R. <fc N. line
* o n absorption of Iowa leased lines, rentals ceased and interest and (205
miles) is built under the charter of the Wisconsin Minn. & Pac. Com
dividend charges increased.
t Less credit items.
pany
issued by the old Territorial Legislature. The W. M. & P. Co. issues
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
Its bonds running for 50 years, bearing 6 per cent interest, at the rate of
1884-85.
1885-86.
1886-87.
$20,000
per mile, of which $5,000 per mile is for equipment. These
Assets—
are deposited by Rock Island with the United States Trust Co.,
Chic. & N.W. —Road & equip. 127,053,870 127,101,024 ï Tl44,16^,050 bonds
and
in
lieu
of them the Rook Island issues its own bonds for $15,000 per
36,628,824 j
Other companies
do
35,539,234
of road, but bearing 5 per cent. The difference in interest as it accu
934,482
Bonds owned..........................
360,242
'6,082,295 mile
mulates
is
be investee! in Rock Island bonds; these bonds may bo
12,282,159 1 12,282.160 redeemed atto105
Stocks owned..........................
12,282,159
after July 1, 1894.1 The St. Joseph & Iowa RR., AltaLand grant investments.......
1,221,000
714,000
230,000 mont, Mo., to Rushville,
Mo., 64 miles, was completed Jan., 1886, and
Bills and accounts receivable
1,890,841
1,926,281
1,757,952 $960,000 in similar collateral
trust bonds issued.
2,000,734
Materials, fuel, &o...............
1,808,567
3,000,978
The authorized issue in 1886 of similar collateral trust bonds for $10,Cash on hand........................
3,807,191
2,932,848
4,214,036 000,000
(at
$15,000
per
mile
single track, $5,000 for equipment and
Trustees of sinking fund___
1.934,004
4,239,176
4,320,175
$7,500 for second track), was for the construction of some 7oO miles
Total.................................... $185,897,108 $188,759,528 $176,048,646 under the name of the Chicago Kansas & Nebraska Railroad.
Liabilities—
Stockholders of Sept. 29,1887, had the right to take at par 1 0 ] ear
Stock, common........... ............ $41,374,866 $41,374,866 t$41,374,866 cent of their holdings in new stock—the total issue, $4,196,000, to be
22,325,454 22,325,454 122,325,454 used for extensions and improvements.
Stock, preferred......................
11,220,000
11,230,000
1)674,183
Stocks of propriet’ry roads,&o
The fiscal year ends March 31. Annual report for 1886-7 in V. 44, p.
91,460,500 II 90,511,500 97,384,500 712, also article on p. 731. The mileage, earnings, &c., have been as
Bonded debt............................
1,544,221
1,331,600
1,331,600 follows :
Divid’ds declared, not yet due
1.934,000
4,239,175
4,320,175
Sinking funds p a id ..................
1883-84.
1884-85.
1885-86. 1886-87.
1,690,680
2,251,206
2,721,369 Miles owned &oper..
Current bills, pay-rolls. &c___
1,384
1,384
1,384
1,384
113,262
Uncollected coupons, &o........
140,762
135,500
Earnings—
$
$
$
$
31,044
Rentals of roads m Iow a........
316,814 Passenger................
3,313,448
3,023,884
3,127,258 3,097,916
537.000
37,000 F reigh t...................
Bonds unsold, &o.....................
37,000
8,056,316
8,144,142
7,713,659 8,037,453
275.000
Note of Consol. Coal C o.........
125.000
125.000 Mail, expr’s, Pnts,&o
1,165,750
1,038,835
1,163,431 1,183,681
705,060
1,473,536
Accrued interest not d u e .......
703,525
Total gross earns. 12,535,514 12,206,911 12,004,348 12,3i9,050
Miscellaneous...........................
120.000
120.000
7,298,002
7,160,324 7,166,893
7,504,809
2,954,246
714,104 Operating expenses
Land income account.............
3,194,071
5,237,u 12 5,046,587 4,837,455
4,814,241
9.762,819
Railroad income account.......
11,144,326 1)2,994,539 Net e a rn in g s.......
58*22
58*65
5970
60 92
Total,
$185,897,108 $188,759,529 $176,048,646 P .c.of op.ex.to earn.
INCOME ACCOUNT.
* Includes F. E. & M. V. consols and Wyoming Central RR. lsts owned
and pledged as coll, for exten. 4s of 1886, $5,772,000; also, general con
1883-4.
1884-5.
1885-6.
1886-7.
sol, gold bonds, $37,000; consolidated sinking fund bonds, $115,000;
Receipts—
$
$
$
$
bonds of sundry proprietary roads, $156,295; Iron River Furnace Net earnings.............
5,237,512 5,046,587 4,837,455 4,814,240
bonds, $2,000.
From land departm’t
470,000
330,000
310,000
230.000
t Includes Chic. St. P. M. & O. stock, $10,315,659; F. E. <k M. V. RR.
Total income.......
5,707,512 5,376,587
5,147,455 5,044,240
stock, $1,966,500. Also owns C. <&N. W. common stock, $10,007,416,
Disbursements—
$
$
$
$
and preferred, $2,284, but these items are included in the amounts giyen Rent
leased roads ..
301,121
301,121
301,995
303,762
on other side of the account.
Interest
on
d
e
b
t.......
1,002,350
1,094,750
1,213,250
1,320,667
t Including $10,007,416 common and $2,284 preferred stock in com
Dividends..................
2,937,186 2,937,186 2,937,186 2,937,186
pany’s treasury.
Rate per cent.............
7
7
7
7
||Including live bonds in sinking funds, which amounted May 31,1887, Add’n
and
imp.
acc’t.
1,200,000
750,000
463,000
.....
to $1,116,500.
Miscellaneous..........
177,784
196,344
164.784
170,922:
1) See remarks in Chronicle regarding these items, p. 177.
5.618,441 5,279,401
5,080,215
4,732,537
—(V. 43, p. 49,117, 1 3 0 , 399; V. 44, p. 343, 621, 713; V. 45, p. 52, Total disbursements.
89,071
97,186
67,240
311,703:
Balance, surplus___
159, 1 7 7 , 340, 575.)
C hicago Sc Ohio R iv e r .—Line of road from Sjdells, 111., to Olney, —(Y. 43, p. 308, 766; V. 44, p. 60, 91, 308. 335, 495. 526, 7 1 2 , 713,
86 miles. This Co. was organized in 1886 as successor of the Danville 731, 752; V. 45, p. 55, 166, 342, 400, 438, 472, 512, 613.)
Olney & Ohio River, foreclosed in Feb. 1886. An extension to the
Chicago Sc St. L o u is.—Chicago to Pekin, 111, 150 miles, and branch
Ohio River is projected. Income bonds are convertible into stock for 2 miles. This is the title of the company organized in March, 1885, as
five years from May 1,1886. Gross earnings in 1885-86, $6t,767; net, successor of the Chicago St. Louis & Western, which had been formed
$8,133. In 1886-87, gross, $75,377; net over operating expenses and in Jan., 1884, as successor of the Chicago Pekin & Southwestern. Stock,
fixed charges, $1,639. Austin Corbin, President, New York City.—(V. $3,000,000. Reported in 1887 to be going into Atchison’s Chicago line.44, p. 21, 289, 308.)
Gross earnings in 1885, $292,798: net, $91,633; interest on bonds,C hicago R o c k Isla n d Sc P acific.—Line of R oad .—Owns from $90,000. (V. 43, p. 773; Y. 45, p. 672.)
Chicago to Council Bluffs, 500 miles; Davenport. Ia., to Atchison, Kan.,
C hicago St. L o u is Sc P ittsb u rg .—The mileage is as follows :
845; Atchison Junction to Leavenworth,Kan., 21-5; Washington, la., to Columbus, O., to Indianapolis, Ind., 187 miles; branches—Bradford June.,
Knoxville, 77*5; South Englewood to South Chicago, 7*5; Wilton to 0 .,to Chicago, 111., 231 in.; Richmond, Ind., to Anoka June., Ind., 102 m.;
Muscatine, 12-5; Newton to Munroe, 17; Des Moines to Indianola and Logansport, Ind., to Illinois State Line, 61 m.; Indianapolis to Kokomo
Winterset, 4 7 ; Menlo to Guthrie Centre, 14*5; Atlantic to Audubon, (operated jointly with Wab. St. L. & Pac.) 54 m.; total operated, 635 m.
24'5; Atlantic to Griswold. 14*7; Avoca to Harlan, 11*8; A voca to CarThis is the reorganization (March 20, 1883,) of the Columbus Chicago
son, 17 6; Mt. Zion to Keosauqua, 4*5; Wilton to Lime Kilns, 5. Leased: & Indiana Central road, sold in foreclosure on Jan. 10, 1883. The
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles; C. C. & I. C. company was formed Feb. 12,1868, by consolidation o f
Keokuk to Des Moines, 162. Total operated, April 1,1887,1,384 miles. the Col. & Ind. Cen. and Chic. & Great East, railroad companies. After
The new mileage built and under construction was mentioned in V. 45, default in 1875 and much litigation, a plan of settlement with the
p. 613.
Penna. RR. was approved by a majority of bondholders in 1882 and
Organization— The Chicago & Rock Island RR. was chartered in carried out. There was held by the Penna. RR. and the Penn. Co. a large
Illinois Feb. 7,1851, and opened from Chicago to the Mississippi River amount of the 1st consoL mortgage and the stocks. The preferred
July, 1854. The extension from the Miss, to the Mo. River was built stock is entitled to 6 per cent yearly if earned, and is cumulative.
by the former Mississippi & Missouri RR. of Iowa, which was foreclosed
From Jan. 1 to Sept, 30,1887 (9 months), gross earnings were $4,220,under mortgage in 1866. The Illinois and Iowa roads were consolidated 267,against $3,471,052 in 1886; net, $1,105,712, against $.535,102.
August 22,1866, under the present title, and the main line was extended
The annual report of this company for the year 1886 was pub
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern lished in the Chronicle, V. 44, p. 369, to which reference should be made.
36
INVESTORS’
SUPPLEMENT.
[V ol. XLV,
Subscribers w ill confer a great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
Miles Date Size, or
par
of
Pox explanation of column headings, Ac., see notes of
Road. Bonds Value.
on first page of tables.
150 1885 $1,000
Chicago dt St. Louis—1st mortg....................... - .......
100
635
Chicago St. Louis dt Pittsb.—Common stock.............
100
... .
Preferred stock (6 per cent cumulative)............... 635
1,000
1st mortgage, consol, gold ($22,000,000).............. 580 1883
117
1st M. Chic. A G’t East. (Chic, to Logansport)---do Col. A Indianapolis C en tral....................... 208 1864 1,000
93 1865
do Union A Logansp’t (U’n City to Logansp’t)
do Cinn. A Chic. Air Line(Richm’d to Logans.) 107
208 1864
2d M. Col. A Indianapolis Central.....................
1,000
Chic. St. P. dt Kan. C ity—1st, g’ld, $20,000 p m ..c* 142 1886
100
Chic. St. Paul Min’p olzs dt Omaha—Common stock.. 1,365
100
1,365
Preferred stock...........................................................
1.000
1880
Consol, mortgage ($15,000 per mile)......................
Chic. St. Paul A Minn., 1st mort., gold, coup........ 177 1878 500 Ac.
1,000
North Wisconsin, 1st mortgage............................... 120 1880
1,000
605 1879
St. P. A Sioux City, mort., gold, for $7,000,000—
23 1878
St. Paul Stillwater A Taylors’ Palls, 1st mort.......
12 1878
Hudson A River Falls. 1st mort..............................
1879
Minneapolis East RR., 1st mort., guaranteed.......
1,000
1879
Chicago dt West. Indiana—1st mort. (sinking fund).
1,000
1882
General mortgage, gold, sinking fund..................
Chicago dt West Michigan—Stock, n e w ..................... 413
1,000
1st mortgage, New Buff, to St. Jo......................... 127 1869
1,000
36 1871
Gr. Rap. Newaygo A Lake Sh., 1st mort. co u p ....
1,000
413
1881
Gen’l M. ($12,000 p. mile).......................................
100
354
Cincinnati Hamilton dt Dayton—Stock.....................
100
354
Preferred stock
•• ••
1,000
60 1875
Consol, mort. ($996,000 are 7s) sink, fund 1 p .o
1,000
1887
Mortgage bonds, gold .. ...................................... c*
1,000
98 1873
Cin. Ham. A I. (Junction) RR., 1st m ort.,gu ar....
.
,
100
411
CincinnatiIndianap. St. Louis dt Chicago—Stock..
95 1858 500 Ac.
Ind. A Cin. of 1858,1st mort..................................
1,000
1867
151
Indianapolis Cin. A Laf. m ortgage........................
Bonds—Prinoi
INTEREST OR DIVIDENDS.
pal,When Dr e.
Amount Rate
Stocks—Last
rabie
and
by
When
Where
Pa;
Outstanding Cen
Dividend.
wl íom.
Pay’ble
r
$1,500,000
8,022,441
17.479,850
13,442,000
223,000
2,631,000
715,000
108,500
780,000
2,800, n00
18,559,626
11,259,933
12,250,292
3,000,000
800,000
6,080,000
334,800
125.000
75,000
2,445,000
6,396.666
6,150,200
480.000
576,000
2,794,000
4,000,000
(?)
2,700,000
2,000,000
1,800,000
10,000,000
1,151.000
461000
6
M. & S.
New York.
Mar. 1, 1915
5 g- A. & o. N Y., Union Trust Co. Oct. 1, 1932
1893 A ’95
do
do
7
Various
Nov., 1904
do
do
7
J. & ,T.
Dec..
1905
do
do
7
A. A o.
Aug. 1, 1890
do
do
7
F. & A.
do
Nov.,
1904
do
M.
N.
7
5 g* J. & J. N. r .,R . t . Wilson A Co. July 1,1936
3
J. (fe J.
D.
J.
g- M. & N.
J. & J.
g. A. &, O.
J. A J.
J. & J.
J. <fe J.
g. M. & N.
g- 9* — M.
F. & A.
M. & S.
J.
<fe J.
8
5
J. (V D.
2 Q P.
1
Q. ?.
5 ,6 7 A. & O.
4*22. J. Sr ,T.
7
J. & J.
1 *4 Q M.
A. A O.
7
7
F. <fe A.
6
6
6
6
7
8
7
6
6
1
8
July 20,1887
June 1, 1930
May 1, 1918
Jan. 1, 1930
April 1, 1919
Jan. 1, 1908
July 1, 1908
Jan. 1, 1909
Nov. 1, 1919
Deo. 1, 1932
Aug. 15, 1887
Sept. 1889
July 1, 1891
Deo. 1,1921
N. Y., Winslow L. A Co. May 1, 1887
April 1., 1887
do
do
Oct., 1905
do
do
Jan. 1,1937
do
do
Jan., 1903
do
do
Sept. 15, 1887
Treasurer’s Office.
Oct., 1888
N. Y., D.exel, M. A Co.
Feb.. 1897
do
do
New York, Office
do
do
do
do
do
do
do
do
do
do
do
do
do
do
N. Y., Drexel, M. A Co.
do
do
Boston.
Bost.. Treasurer’s office.
N. Y. Union Trust Co.
FISCAL RESULTS.
OPERATIONS AND FISCAL RESULTS.
1886.
1884.
1885.
1883.
1886.
1885.
1884.
1883.
1,365
'files operated........
1,280
1,310
1,318
635
635
635
635
Miles of r’ d operated
Earnvngs—
$
$
$
Operations—
1,413,218
1,305,515
1,470,558
1,430,711
1,085,448 Passenger.
1,228,701
1,186,779
1,061,091
Passengers carried..
4,466,734
Freight
.
.
...................
3,843,948
4,132,530
4,255,398
48,146,452 48,891.744 46,840,896 44,970,677
Passenger mileage
273,315
253,897
200,778
221,690
2*30 cts. Mail, express, A c. . . .
2-42 cts.
2-32 cts.
2-21 cts.
Rate $) pass. $ mile
3,075,385
___ _________
2,782,033 2,517,062
3,031,595
Tot. gross earnings 5,515,284
5,784,931
5,814,810 6,153,267
Fr’ghf (tons)
carried
Fr’ght (t’ns) mile age 526,622,269 484,716,894 612,653,872 587,723,362
Oper’g exp. A txs.
3.721,151
3,848,575
3.623,827 4.007,022
0*59 cts. Net earnings........ .
Ave. rate ton $ m.
0*72 cts.
0*60 cts.
0*52 cts.
2,304,692
2,093,659
1,777,909
1,891,457
$
P.o. of op. ex. to earn.
62*54
69*26
63*99
65*70
Earnings—
$
$
$ __
1,036,165
Passenger....................
1,163,407 1,134,689
1,036,077
INCOME
ACCOUNT
3,448,447
Freight.........................
3,781,107 2,902,433
3,159,887
1884.
1885.
1886.
1883.
357,704
Mail,express, A c ....
349,406
359,718
371,632
Receipis$
$
$
$
1,777,909
2,093,659
2,304,692
1,891,457
651,125
721,995
741,065
Net
from
land
grants
547,777
4,842,316
4,567,596
5,293,920 4,396,840
Total gross earns
73,959
153.623
212.221
33,235
3,966,300 Other receipts..........
3,807,645
3,602,213
4,335,964
Op exps. and taxes.
2,848,889
3,119,716
Total incom e....
2,641,255
2,592,857
$876,016
$759,951
$957,956
$794,627
Net earnings.............
Disbursements—
$
81*91 Rentals paid.............
83 36
62,982
117,009
49,1.74
35,564
81*90
81*93
P.c.of op.ex.to earns.
1,334,324
1,337,956
1,320,146
Interest on debt.......
1,222,371
INCOME ACCOUNT.
675,408
675,408
787,976
Div.
on
pref.
stock..
770,476
1886.
1885.
1883.
* 1884.
Receipts—
Rate of dividend . . . .
(7)
(6)
(7)
$876,015 Loss
$759,951
$957,956
$794,627
Net earnings..........
12,524
& 4
13,065
on prop, roads.
12,356
26,720
1,972
Interest..................
2,139,397
2,085,238
2,170,361
2,040,767
Tot. disbursem’ts
297
78,073
Other receipts.......
979,719
763,651
470,894
552,090
Balance surplus.....
----$984,973
$874,672
$759,951
$876,015 —(V. 43, p. 244, 502; V. 44, p. 184, 263, 4 9 3 ; V. 45, p. 492.)
Total income___
Disbursements—
C hicago & W e ste rn In d ia n a .—Owns from Dolton and Ham
$21,224
$21,224
$21,224
$15.918
Rentals p a i d .......
111.. to Chicago, with a belt railroad and branches, with ware
1,074,121 mond.
1,079,241
1,079,602
663,363
Interest on debt..
houses, eievator, 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 were leased to
120,633
3 mos..................
Belt R’v of Chicago), ana about 400 acres of real estate. This
95.789 the
17,565
Miscellaneous.......
comnanvlea^es its road for right of way into Chicago and terminal
farflitieJ therein to the Wabash, the Gr. Trunk of Canada, the Chicago
Total disb’rsm’ts
$799,914 $1,100,826 $1,118,030 $1,191,134 a S
m n o T s % L Chic A Atl. and Louisv. New Albany A Chicago
Balance................. sur.$185,059def.$226,154 def.$358,079 def.$315,119 roads; the annual rentals stipulated exceed the mterest charg econsia—(V. 44, p. 3 6 9 , 433, 5 2 5 , 526, 653; V. 45, p. 25, 239, 400, 538.)
Chicago St. 'P aul & K a n sa s C ity.—(-See Map o f Minn, dt North
western.)—Des Moines,la., to Oelwein, la., 132 miles; branches, Valeria
to coal mines and Wilsons to Cedar Falls, 10 miles ; total, 142 miles ;
under coustruotion, Des Moines to St. Joseph, 155 miles ; at Oelwein, —(V. 43, p. 2 2 ; V. 44, p. 751, 7 80.)
connects with the Minn. A Northwestern, and ha3 a traffic contract with
rhi<>»<rn Sr "West M ic h ig a n .—Owns from Lacrosse, Indiana, to
it. The Wise. Ia. A Nebr. RR. was purchased in July, 1886, for $20,000 Penfrwater, Mich., 209 miles; branches—Holland Junotion to AUegan,
per mile in bonds and $25,000 per mile in stock. Bonds are $ or £ (4s. 23 mdes* Holland to White Cloud, 70 miles; Fruitport to Muskegon,
li^ d = $ l 00) and are authorized to the amount of $16,000,000 at the
miles* Kirk’ sJun ction to Pickand’s Junction, 3 miles; Muskegon
rate of $20,000 per mile on road and $5,000 per mile for termin to ^
Sherman 6 miles; Woodville to Muskegon River, 17 miles;
als in cities and for equipment; also, $8,000 per mile additional for Mefrs to H ^ T m U ^ s T B . R. Junction to Big Rapids, 51 miles; White
double track. They are redeemable at 105 and accrued interest. Trus River Tunction to Baldwin, 20 miles: total operated, 413 miles. In
tees of mortgage are the Metropolitan Trust Co., of New York, and 1887 l e S d t o Chicago A Ind. Coal RR., about 18 m iles-L a Crosse to
Robert H. Benson, of London. Capital stock ($25,000 per mile), $3,
500,000. Gross earnings for six months from July 1,1886, on 115 miles ^Organized as successors of Chicago A Mich. Lake Shore Jan-1,1879, and
were $138,965; net, $12,523; payment from old company, $25,000 „onaoiiii ntod in Sent 1881, with the Grand Haven road, 57 miles,
surplus over interest charge, $10.023. R. T. Wilson, New York, Presi Muskegon to Allegan, and the Grand Rapids Newaygo A Lake Shore, 46
den t—(V. 4 3 ,p. 72; V. 44, 627; V. 4 5 ,p. 642.)
rniiAg from Grand Rapids to White Cloud»
. _ __
« T
There are also $24,000 outstanding of Grand Rapids Newaygo A L .
Chlcauo S t. P a u l M in n ea p o lis Sc O m ah a. -(S ee map Chicago
A Northwestern.) Mileage; Eastern Div.—Elroy to St. Paul, 196 miles; S.ts
2d
—Div. bonds.
£,/> V»otto hooB ftQTrtMftWS .
River Falls Branch, 25 miles; Stillwater Branch, 4 miles; South Stillwater
1886.
1885.
1884.
Branch 4 miles; Eau Claire Branch, 3 miles; Neillsville Branch, 14 miles;
1883.
$
$
St. Paul to Minneapolis, 10 miles; total, 256 miles. Northern D ivision$
$
1,393,979
1,297,301
1,469,667
North Wisconsin Junction to Bayfield, 178 miles; Ashland Junction to
,550,098
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Receipts—
370,482
348,788
468,977
364,874
Junotion, 81 miles; Superior Junction to Duluth, 73 miles: total, Net earnings...
4,072
9,261
2,217
7,559
338 miles. St. Paul A Sioux City Division—St. Paul to Sioux City, 269 Other receipts
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El
379,743
352,869
471,194
more 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
372,433
to Salem, 98 miles; Luverne to Doon, 28 miles; total, 521 miles.
Disbursements—
225*024
224,080
222,085
Nebraska Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca, Interest on deb t ............... Tq Î’Vo«
153,755
123,004
215,257
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson, Dividends.............................. 184,506
46 miles; Wakefield to Hartington, 34 miles; Wayne to Randolph, 22
Total disbursements. . . . 401,530
437,342
347,084 378,779
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, of Balance!.^ ” - -. - ---def- 29,097 sur.33,852 sur. 5,776
964
the Chicago St. Paul A Minneapolis (fprmerly West Wisconsin), the North —(V. 44, p. 525.)
v,
_
Wisconsin, and the St. Paul A Sioux City.
....
, ._
H a m ilt o n Sc D a y t o n .—Owns from Cincinnati, O.,
Preferred stock lias a prior right to non-cumulative dividend of 7 per to ^ a v to n O t 6^ M tesan d^ fc Combto Deshler, 9 miles; leased—Dayton
cent from net earnings ; but common is never to receive more than is r S
Î
D a y t o to Toledo, 142! miles; Cincinnati Hamilton A
paid on preferred. The Chic. St. Paul A Minneapolis 1st mort, is a 2d rodiananofis Hamilton to Indianapolis, 99 miles; Cincinnati Rich
on the lands; the land mort, a 2d on road; but no foreclosure can be mond A Chicago, Hamilton, O., to Indiana State line (and leased road),
had except by default on 1st mortgage.
44 miles* total operated, 354 miles ; each lease reported separately.
In November, 1882, a controlling interest in the stock was purchased
rn 1887 authority to issue $10,000,000 pref. stock was voted in June;
for the Chicago A Northwestern Railway by the acquisition of 93,200 in J a i r i 8 8 7 the stookholders voted to issue $2,000,000 bonds and
shares of common at an average price of 48*40, and 53,800 shares of
preferred at an average of 104*04—the total cost being $10,503,959, ^^heij^dsTssued8in 1887 are a second lien on the main line, 60 mile3,
which stock is held as an asset of the Chic. A Northwestern Company.
also cover the road from MoComb to Deshler, 9mües, the
Report for 1886 was in Chronicle, V. 44, p. 493. The land sales in and
leases of the Dayton A Michigan and Cincinnati Richmond A Chicago
1886 were 194,665 acres for $1,562,803, including lots; land contracts roads, and $17366,653 of debt claimed to be due from the Cincinnati
and notes on hand Deo. 31, 1886, $3,093,892; lands undisposed |of,
Hamilton A Ind. RR. Co.
647,197 acres. Earnings, Ac., were as follows :
N ovember, 1887.1
RAILROAD STOCKS AND
BONDS.
37
38
INTE STO ÄS’
SUPPLE ME NT.
[V ol
XLV.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Prin c iINTEREST OR DIVIDENDS.
Miles
Amount Rate per When Where Payable, and by pal,When Due.
of
of
Par
Stocks—Last
Outstanding
Road. Bonds Value.
Whom.
Cent. Payable
Dividend.
on first page of tables.
Oinn. Indianap. St. Louis A Chicago—(Cont’d)—
Cin. & Ind., 1st mortgage.........................................
do
2d M., guar., and funded coupons___
Gen. 1st M. gold sink, fund (for $10,000,000) .c —r
Consol, mort............................................ .
............
Cincinnati Lafayette & Chicago, 1st mort., gold ..
Oinn. Jackson A Mackinaw—1st, consol, m., g __ c*
Cincinnati Van Wert & Mich., 1st mort.................
do
do
2d M., inc., payable at option.
Cincinnati Lebanon A North.—1st m. (for $200,000)
Cincinnati A Muskingum Valley—1st mortgage___
Cincinnati Hew Orleans A Texas Pacific—Stock.......
Cin. Richmond A Chic.—1st mort., guar. C. H. &D..
Cin. Richmond A Ft. IT.—1st mort., gold, guar.......
Cincinnati Sandusky A Cleveland—Stock................
Preferred stock...........................................................
1st mort, Sand. Dayt. & Cin. (redeemable at 100)
2d mortg. Cine., Sandusky & Cleve.........................
Cincinnati A Springfield—1st mortgage, guar........
2d mortgage............................. .................................
CincinnatiWabash A Michigan—Stock ($3,000,000)
Cincinnati Washington A Balt.—Common stock___
Preferred stock..........................................................
1st mort. gold (the 4^8 are guar, by B. & O)........
2d mortgage, gold.....................................................
Prior lien, g o ld .........................................................
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., non-cumulative, gold................
2d income mort., non-cumulative...........................
Baltimore Short Line mortgage...............................
Cincinnati & Baltimore mortgage.......... ...............
Scioto & Hocking Valley mortgage.......................
20
20
All.
175
56
263
1862 $1,000
1.000
1867
1886 1000 &c
1880
1,000
1871
1,000
1886
1,000
1881 100 &c
37
148
336
36
91
190
190
1886
1870
....
48
48
165
281
281
....
....
__
__
....
__
1866
1871
....
....
1866
1867
1871
1872
....
....
1883
1883
1883
1883
1883
1883
1869
....
1852
1,000
1,000
100
1,000
1,000
50
50
....
....
1,000
1,000
....
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
....
In June, 1887, a controlling interest in the stock of the Terre Haute &
Indianapolis HR. was purchased; the stockholders voted to construct or
lease a line from Hamilton to Middletown, O., and issue $500,000 of 4*2
per cent bonds; also to authorize the $10,000,000 pref. stock (see V. 44,
p. 808). The failure of H. S. Ives & Co., in August, 1887, placed the
affairs of this company in a complicated situation. The securities in its
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. 333, showing $4,689.600 of pre
ferred Cinn. Ham. & Dayton stock and $4,665,904 of common. The
stock of the Day. <&Mich, was sold to David Sinton 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 has been issued. Income account; in the fiscal
years ending March 31 was as follow.-, including all the roads operated :
1883-84.
1884-85.
1885-86.
Gross receipts
$3,042,461 $2,865,933 $2,856,559
Operating
expenses and taxes..
$2,083,705
$1,841,271
$1,813,899
n H.
rr &
p, D.
tv
a
a oc
C.
div., com. and pref..
236,485
236,940
236,940
Interest..........................................
509,840
503,266
490,718
132,015
D. & M. dividends..,...................
132,017
132,020
Miscellaneous...............................
6,185
10,650
Total................................. ....$ 2 ,9 6 8 ,2 27
$2,724,144
$2,673,577
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.)
1 C in cin n ati In d ia n a p o lis St. L o u is Sc C h ic a g o .—(See Map.) —
Owns from Cin. to Lafayette., Ind.. 174 miles; Lawrenceburg branch,
3 miles; Harrison branch. 7 miles; Fairland F. & M. Road, 38 miles;
and Cincinnati Lafayette & 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. & Laf., which road
was sold in foreclosure Feb. 2, 1880, and this company organized.
The new 4 per cent mortgage for $10,000,000 (Central Trust Co. and
Hervey Bates, trustees) will retire all other bonds as thev 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 1021a and
interest. In March, 1887, stockholders 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 June 30; report for 1886-7 was in V. 45, p. 436, 438.
INCOME ACCOUNT.
1883-84.
1884-85.
1885-86.
1886-87.
$
$
$
$
Gross earnings.........
2,498,589
2,595,859
2,526,934 2,752,892
903,190
935,678
986,872 1,052,296
Netearnings.............
Interest on bonds___
626,233
Dividends.......................................
Rate of dividends. ..
............
Miscellaneous............
5,254
624,482
............
............
29,045
624,234
210,000
(3 p. o.)
18,844
643,267
332,500
(4%p. o.)
15,582
$317,000
7
864,750
7
5,019,000
4 g.
857,000
6
948,000
7 g.
1.588.000
5 g1.200.000
6
1,200,100
6
100,000
5
1,500.000
7
3,000,000
3
560,000
7
1.800,000
7 g.
2
4,003,330
428,850
3
538,000
6
1,100,000
7
2,000,000
7
651,000
7
2,043,100
5,811,100
12,893,200
7.676.000 41ag& 6g
3.033.000
5 g500,000
4*2g.
2,237,000
3-4
3,214,000
5
4,000.000
5
750,000
7
500,000
7
300,000
7
J. & D.
J. & J
Q —F.
M. & N.
M. & S.
J. & D.
J. & J.
J. & J.
J. & J.
J.
J,
M.
M.
F.
J.
A.
J.
&
&
&
&
&
&
&
&
M.
J.
A.
F.
&
&
&
&
J.
D.
N.
N.
A.
D.
0.
J.
N. Y., Drexel, M. & Co. Dec., 1892
do
do
Jan., 1892
N. Y., Central Trust Co. Aug. 1,1936
N. Y., Drexel, M. & Co. May 1, 1920
do
do
Moh., 1901
N.Y., Central TruBt Co. Dec. 1, 1936
Jan. 1.1901
1930
Cinn., 4th Nat’l Bank.
1906
Jan.,’86, cp. pd.Nov.,’ 86 Jan., 1901
Feb. 5, 1833
N.Y., Winslow, L. & Co. July, 1895
N.Y., Winslow, L. & Co. June, 1921
Boston, Office.
May 1, 1884
do
do
Nov. 1, 1887
Boston, Nat. Revere Bk. Aug. 1, 1900
Boston, Office.
Dec. 1, 1890
N. Y., U. S. Trust Co. A p r ili, 1901
do
do
1902
N. N.Y.,Farm’s’ L.&Tr. Co.
do
do
J.
O.
do
do
do
do
A.
do
do
do
do
do
do
J. & D.
J. & J. Cin., C. W. & B. Office.
M. & N. N.Y., Farm.Ln.& Tr.Co.
Nov. 1,
Nov. 1,
April 1,
Nov. 1,
Nov. 1,
Nov. 1,
Deo. 1,
Jan. 1,,
May 1,
1931
1931
1893
1931
1931
1931
1904
1900
1896
C in cin n ati Leb an on Sc N orth ern .—Cincinnati, O., to Dodds, O.,
36 miles; branches, 2 m iles; 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;
net, $45,969.—(V. 44, p. 2 4 3 )
C incinnati N ew Orleans Sc T ex a s Pacific. - (See Map).—This is,
the company organized under the laws of Ohio Oct. 8,1881, to operate
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng
lish company, the Alabama New Orleans & Texas Paoiflo Junction Co.,
Limited. The Cincinnati Southern road extends from Cincinnati to
Chattanooga, Tenn., 336 miles. The Ala. N. O. & T. P. also controls the
Vicks. & Mer., 142 miles; Vicks. Shrev. & Pao., 189 miles; N. O. & 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, and $1,262,000 till 1906. The annual report for 1886 in V.
44, p. 243, gave tne following income account for three years:
1884.
1885.
1886,
Total earnings............................$2,658,184
$2,681,546
$2,882,172
Working expenses and taxes... 1,836,974
1,710,535
1,833,579
Net earnings for the year... $821.210
812,000
Rental......................................... .
$971,011
812,000
$1,048.593
834.043
Surplus revenue.........................
$9,210
$159,011
$214,549
—(V. 43* p. 125, 210, 774; V. 44, p. 21.)
C incinnati R ic h m o n d & C h icago.—Owns from Hamilton, O.,
to Indiana State Line, 37 miles; leased, Richmond, Ind., to Ohio State
Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866, and
leased in perpetuity from Feb., 1869, to Cinfi. 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. & D. Capital stock, $382,600.
C incinnati R ic h m o n d Sc F o rt W a y n e .—Owns from Rich
mond, Ind., to Adams, Ind., 86 miles; 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
and 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, $988,466.
C incinnati Sandusky Sc C le v e la n d .—Owns from Sandusky,
Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles;
leased, Columbus Springfield & Cincinnati, 44 miles; total operated, 214
miles, less the division between Springfield & Dayton, 24 miles, which, is
leased to the Clev. Col. Cinn. & Indianapolis. The preferred stock
has a lien by deposit of old bonds in trust. There are also outstanding
$350,000 Sandusky City & Cleveland 1st mortgage bonds due June,
1887. In Arpil, 1881, a lease was made to the Indiana Bloom. & West
ern, but litigation ensued, and the I. B. & 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.)
C incinnati 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. d n r
6 Ind. Co., giving them a line into Cincinnati, and depot accommoda»
tion. Lessees apply any excess over rentals to C. & S. stock. Interest
is guaranteed on the first mortgage, one-half by the lessees and one-half
by L. Shore & Mich. Southern. Stock is $1,100,000. To January. 1887
tne C. C. C. & I. had advanced $2,854,315. Gross in 1-885, $886,104;-.
net, $193,562 ; rentals, $167,322 ; interest, $185,570 ; other payments,
$15,500; total, $368,392; deficit, $174,829. Gross earnings in 1886,.
$1,130,324; net, $116,001.
C incinnati W a b a s h Sc M ich ig a n R a ilw a y .—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.)
C incinnati W a sh in g to n Sc R a ltim o re . —(See M ap o f B alt. A
O hio.)—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
Belpre, 11 miles; Portsmouth to Hamden, 55 m.; Blanchester to Millsboro, 22 m.; total, 281 m.
The Marietta & 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. Of the first
mortgage bonds, $1,250,000 were issued for the Cincinnati & Baltimore
RR. stock, and bear 6 per cent, the balance bear 4*2 per cent and are
guaranteed by the Balt. & Ohio RR. Co. The income bondholders have
voting power. The annual report for 1886 had the following:
Earnings from —
1884.
1885.
1886.
Passengers....................................... $536,198
$461,412
$533,797
Freight............................................. 1,079,861
1,019,277
1,242,693
Mail, express, &o............................
238,249
224,581
233,916
Total disbureem’ ts.
631,487
653,527
853,078
1,091,349
Balance,
surplus.......
271,703
282,151
133,794
60.947
/T
T AO
O -T
O IGA O
O
O
A
Add
e
rt R
one. tt a a _
_ ~ ^ 1 ~~
—(V.
43, p. O
22,
73,190,
368,
4 3O0A, 431,
458,
515,
607; V. 44, p.
59.’ 90
244, 275, 343, 494, 808; V. 45, p. 112, 271, 4 3 6 , 437, 4 3 8 , 509, 672.)
C incinnati J ack so n Sc M a c k in a w .—(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 l’oledo, O
23 miles; total operated Sept. 30,1887, 302 miles; and has under con
struction from Bryan to Jackson, Mich., 61 miles; and small pieces, 7
miles. This Co. was formed Feb. 12,1886, by consolidation of the Cin
cinnati Van Wert & Mich., RR., and the Jackson & Ohio RR., and in
1887 purchased the Mich. & Ohio sold in foreclosure.
The bonds are issued at $10,000 per mile, covering also equipment
which cost about $1,000,000, thus reducing the lien 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 Cin. Van Wert & Mich. 1st mort.
bonds, due 1901, which are a first lien on 8113 miles (called the Centrai
Division) between Cecil, O., and 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.
-5Jn year ending Sept. 30, 1887, gross earnings on average of 205
miles, $362,273; net over rentals and taxes, $122,590; surplus over
Total earnings.......................... $1,854,308 $1,705,270 $2,010,406
S u rest, $42,598; add received from local aid, $23,892; total surplus, Operating expenses and taxes___ 1,408,371 1,464,830
1,462,943
$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. 5 7 1 , 574 )
Netearnings,
$445,937
$240,440
$547,463
N o v e m b e r , 1887.]
KAILKOAD STOCKS AND
BONDS.
3 9
“4
INVESTORS’
SUPPLEMENT.
RAILROAD
N ovember, 1887,]
STOCKS AND
BONDS.
41
Subscribers w ill eoafer a great favor by g iv in g Im m ediate notice o f any error discovered in tbese T a bles.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal. When Due.
Amount
Rate
per
of
Where
Payable,
and
by
Stocks—Last
When
Par
For explanation of column headings, &c., see note of
Wnom.
Road. Bonds Value. Outstanding Cent.
Dividend.
Payable
on first page of tables.
Cleveland Akron d Columbus—Stock.........................
1st mortgage bonds, gold..................................... c*
General mortgage, gold (for $1,800,000).............
Cleveland d Canton.—Stock ($2,800,000 is pref.)..
Mortgage bonds for $2,000,000.............................
Cleveland Columbus Cincinnati d Ind.—Stock___
1st mortgage Bel. & Ind.........................................
do
C. C., C. & I. sinking fu n d..............
Cons, mortgage (sink, fund 1 p. c.).....................
General consol, mort., gold (for $12,000,000)...
Clevel. Lor. d Wheel.—Cl. Tusc. Val. & W. 1st M .. .
Cleveland d Mahoning Valley—Stock.......................
1st mortgage, extended...........................................
3d mortg. (now 2d)...................................................
New mongage probably for $3,000,000..............
Niles & New Lisbon, 1st mortgage.......................
Cleveland d Marietta.—Stock....................................
Cleveland d Pittsburg—Guaranteed stock..............
4th mortgage (now” 1st)..........................................
Consolidated sinking fund mort. for $5,000,000.
Constr’n and equip’ t income bonds, Series -‘A’ ’..
Do
do
Series “ B” .
Colebrookdale—1st mortgage....................................
Colorado Central—1st mortgage, new.......................
Colorad j Midland—1st m., gold ($25,000 p. mile)c*
Columbia d (Jreenville—New mort. ,g’id,coup, or reg
2d mortgage............... ................................... ..........
Columbia d Port Deposit—1st mortgage....................
Columbus d Cvnn. Midland—1st M., coupon....... c*
Columbus Hocking Valley d Toledo—Stock...............
Consol, mortgage, gold (for $14,500,000).............
Gen. M., g., on road & Hocking Coal & RR. Co.. .o
144
144
Ì6 Ì
391
202
390
390
....
158
127
67
67
35
99
200
199
199
13
323
250
164
164
40
71
328
324
327
1886
1887
1864
1869
1874
1884
1878
....
1873
1876
1888
1870
1862
1867
1873
1873
1868
1879
1886
1881
1881
1868
1884
1881
1884
$100 $4,000,000
l*fl
N. Y., J. A. Horsey.
260,000
500 &o.
do
do
6 g. J. & J.
1.040.000
500 &c.
5 g M. & S.
do
do
9.800.000
"5*
J. & J. Boston Inter’l Trust Co.
(?) „
2
F. & A. N. Y., U. 8. Trust Co.
Í00 14,991,600
231,000
7
J. & J.
1,000
do
do
3,000,000
7
M. & N.
1,000
do
do
4,007,000 7 or 6 g. J. & D. New York or London.
1,000
3,205,000
1,000
New York.
6 g. J. & J.
700,000
7
A. & O. N.Y.. Union Trust Co.
2,759,200
Q. -Mar.
50
Cleveland, Office.
(?)
740,500
500 &c.
7 g. F. & A. N. Y., U. S. Trust Co.
M. & S.
654,600
7
500 &o.
do
do
5
J. & J.
...
(?)
500,000
7
J. & J. N. Y., Union Trust Co.
500 &o.
2,000,000
Q.—M. N. Y., Farm. L. & T. Co.
50 11,246,971
IH
1,096.000
6
J. & J.
500
do
do
M. <fc N.
2,2 >0,000
7
1,000
do
do
J. & J.
1,669,000
7
1,000
do
do
J. <fe J,
401,000
7
do
do
1,000
J. & D. Phila., Phil. & R. Office.
600,000
6
lOO&c.
4,701,000
1,000
7 g. J. & J. Boston, Treas.’s Office.
6,250,000
N. Y., Cent. Tr. Co.
1,000
6 g. J. & D.
2,000,000
1,000
6 g. J. & J. N. Y., First Nat. Bank.
do
do
1,000,000
6
A. & O.
1,000
F. & A.
Phila., Penn. RR.
1,882,000
7
1,000
2,000,000
6
J. & J. N.Y., Farm’s’ L.&Tr.Co.
1,000
100 11,696,300 13% st’k
8,000,000
1,000
5 g- M. & S. N. Y., Winslow, L. & Co.
do
do
1,378,000
1,000
6 g. J. & D.
Feb. 1, 1887
Jan. 1, 1926
Mar. 1, 1927
July 1, 1917
Feb. 1, 1883
UntU 1899
May, 1899
Juné 1,1914
Jan. 1, 1934
Oct. 1, 1898
Irregular.
Aug. 1, 1893
Sept. 15,1896
1938
Jan., 1890
Dec. 1, 1887
Jan., 1892
Nov. 1, 1900
Jan. 1. 1913
Jan. 1, 1934
June 1, 1898
July, 1909
June” 1, 1936
Jan. 1, 1916
April 1, 1923
Feb. 1, 1893
Jan. 1, 1914
Aug. 19.1885
Sept. 1, 1931
June 1, 1904
- ( V . 43, p. 22,131, 309, 398, 579, 671; V. 44. p. 21. 59, 184, 308,
357, 3 6 8 , 526, 621, 751; V. 45, p. 25, 84,142, 437, 572.
C leveland L o ra in Sc W h e e lin g .—Owns from Lorain, O., to
$693,275
$693,175 West Wheeling, O., 158 miles. Chartered as Lake Shore & Tuscarawas
$692,07*2
Valley
in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
1,213
408
28,594
1875, and reorganized as Cleveland Tuscarawas Valley <fc Wheeling. In
February,
1883, road sold and reorganized as Cleveland Lorain &
Total disbursements................
$720,667
$694,488
$693,583
Balance, deficit............................... $274,730
$454,048
$146,120 Wheeling. Common stock is $ 1,000,000 and preferred $ 4,600,000. In
1885
gross
earnings were $755,447; net, $212,111. In 1886 gross
—(V. 43, p. 308, 398; V. 44. p. 60, 90, 494, 781.)
earnings, $814,357; net, $257,403; interest, $49,000; surplus, $¿08,C leveland A k ro n Sc C oln m b n s R a ilw a y .—Owns from Hud 403. (V. 44, p. 653.)
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by
C leveland Sc M a h o n in g V a lle y .—Owns from Cleveland, O.,
Cleveland Mount Vernon & Delaware. Sold in foreclosure in 1882 to
parties representing the Holland bondholders. The company was re- to Sharon, Pa., 81 miles; Niles, O., to New Lisbon, O,, and branches.
®rganized under this title in Jan., 1886. The 1st mort. bonds may be 46 miles; total operated, 127 miles. It was leased to Atlantic & Great
redeemed Jan 1,1891, and of the gen. mort. sufficient are held to retire Western in perpetuity from October 1,1861. A new lease was made
the firsts and to Duild the Dresden Branch now in progress. Gross earn to the reorganized company, New York Penn. & Ohio, till Oct. 1,1962;
ings in 1886, $542,915; net,$130,532; charges,$56,828. G rossinl885, the rental is $412,180 per year. Dividends have been paid at irregular
$493,890; net, $88,001. Repoit for 1886 in V. 44, p. 433. (V. 44, p. periods, and amount to about 11 per cent per annum. In Sept., 1887,
the issue of new bonds was authorized to provide for the outstanding
275, 369, 4 3 3 ; V. 45, p. 341.)
C levelan d & C an ton .—Line of road—Cleveland to Coshocton, O., issues and to double track the road from Cleveland to Youngstown.—(V.
115 miles; Canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles; 45, p. 472.)
total, 161 miles. The Connotton Valley Railroad was sold in foreclosure
C levelan d Sc M a rietta.—Operated from Marietta, O., to Canal
May 9,1885, and this company was organized with an authorized capital Dover and branch, 99 miles, and 7 miles, Valley Junotion to Canal
of $4,000,000 common and $8,000,000 preferred stock. In May, ’87, Dover, leased. The Clev. & Marietta was successor to the M., Pittsb. &
stockholders voted to negotiate a mortgage of $2,000,000 to change the Clev., foreclosed in 1877. The road was again foreclosed May 5,1886,
gauge to standard, &c. The gross earnings for year ending June 30,1887, and reorganized, and $2,000,000 new stock was issued in June, 1887.
were $370,007; net, $73,278; surplus over taxes and charges, $L,684. In year ending June 30, 1887, gross earnings were $300,617; net,
See full report to Dec. 31,1886, V. 44, p. 120. From jTuly 1 to Oct. $63,103; surplus over interest and rentals, $34.382. In 1885-6, gross,
31,1887 (4 months) gross earnings were $138,976, against $135,521 in $293,862; net, $62,813. A. T. Wikoff, Pres’t., Cambridge, Ohio G. H.
1886; net, $50,205, against $32,428. (V. 43, p. 244, 487; V. 44, p. 1 2 0 , Candee, Secretary and Treas., 52 William St., N. Y.—(V. 43, p. 431; V.
211, 275, 400, 433, 621, 751; V. 45, p. 84, 271, 292.)
44, p. 653.)
C leveland C oln m bn s C in cin n ati Sc In d ia n a p o lis.—Owns
C leveland & P ittsb u rg .—(See Map Penn.JLR.)—Cleveland, O., to
from Cleveland, O., to Columbus, O., 138 miles; Gallon, O., to Indian
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles; Rochester, Pa., 124 miles; branches—Bayard,W ., to New Phila., 31
miles;
Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to
Mount Gilead, 2 miles; Ina. & St. Louis RR., Indianapolis to Terre (P. Ft. W. & C.), 26 miles; total operated, 226 miles. The property was
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to Terre Haute, 189 leased for 999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans
miles; Alton branch, 4 miles; total owned, leased and operated, 738 ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
miles. This was a consolidation in April, 1868, embracing the C. C. & C. and $10,000 per year for company expenses, the lessees assuming all lia
and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR. 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.
and St. L. Al. & T. H. RR., and purchased Ind. & St. L. RR.
The company paid dividends prior to 1877, but after that the The annual report for the year ending November 30, 1882, stated
large decline in rates for through freight and the heavy rentals paid that final settlement had been made with the Pennsylvania Railroad
reduced the company’s income so that no further dividends were paid Company in the matter of surplus assets remaining to this company, as
until February, 1880, and none after that till February, 1883. In 1882 of the date of the lease, after closing its business, which surplus accrued,
the company acquired control of the Indianapolis & St. Louis, and made to the lessee by the terms of the supplementary agreement of November
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking 30,1871. “ The total amount transferred as authorized by the board
fund provision of consolidated bonds may be canceled at option of of directors is $202,291. This sum has been charged against construc
tion, meeting the old balance of net earnings—$390,138—credited to
holders, and the bonds so stamped.
From Jau. 1 to Sept. 30.1887 (9 months), gross earnings on C. C. C. & construction in the year 1880.”
I. proper were $3,321,041, against $3,018,852 in 1886; net, $1,263,162, For the year ending November 30,1886, the gross receipts were
against $1,092,91?; surplus over interest, taxes, betterments, &c., $230,- $2,885,234, and the deficit to lessee after making a 1 payments was
$161,482, against a deficit of $341,981 in 1885.
548, against deficit of $316,714 in 1886.
The annual report for 1886 was in the Chronicle, V. 44, p. 368.
C oleb rookdale.—Owns from Pottstown, Pa., to Barto, Pa., 13
On the C. C. & I. C. proper, the results for four years were as follows : miles. Leased for 20 years from Jan. 1,1870, to Philadelphia & Reading,
at
30 per cent of gross earnings, but proposed changes in bonds given
OPERATIONS AND FISCAL RESULTS.
in V. 45, p. 143. Gross earnings in 1885-86, $55,528; net earnings (30
1883.
1884.
1885.
1886.
per cent rental), $16,653. Gross in 1884-5, $44,905; net (30 per cent),
391
391
391
391
Miles owned...............
$13,471. Capital stock, $297,215. (V. 45, p. 113.)
Operations—
Passenger m ileage... 43,548,617 42,176,610 38,145,360 39,496,055
C olorado Central—(¿fee Map o f Union Pacific)—Denver to Golden
Rate $ pass. $ m ile. 2-217 cts.
2-133 cts. 2-091 cts.
2-150 cts.
Freight (tons) mil’ge.408,436,350 397,678,278 428,691,881 423,545,587 16 miles; Golden to State line, 106 miles; Djnver Junction to La Salle,
151 miles; aad narrow gauge line from Golden to Georgetown, 34
Av. rate $ ton $ mile 0-751 cts. 0*633 cts. 0"577 cts. 0-679 ots. miles,
and Forks Creek to Central City, 1 1 m iles; leases line from
Earnings—
$
$
$
$
Passenger...................
965,693
899,435
797,679
849,168 Colorado Junction to Wyoming State line, 9 miles; total operated, 327
miles.
Chartered in 1865, and main line opened in 1870. It is owned by
Freight.......................
3,068,717
2,518,873 2,471,863 2,877,157 the Union
Pacific. The new mortgage bond was issued to take up the
Mail, express, &o.. ..
178,697
182,038
186,865
194,165 old 8 per cent
bonds, of which $87,000 are yet out. Stock, $6,230,300.
Total gross eam ’gs. 4,213,107 3,600,346 3,456,407 3,920,490 Gross earnings in 1885, $1,320,765; net, $299,443; interest, $336,030;
Oper. exp. & ta xes...
3,143,526 2,875,853 2,812,182
2,699,361 deficit $36,536. In 1886, gross earnings, $1,391,215; net, $414,112 ;
Net earnings..............
1,069,581
724,493
644,225
1,221,129 interest, $336,030; surplus, $78,311.
INCOME ACCOUNT.
Colorado M id la n d .—(See Map)—This standard gauge road has
1883.
1884.
1885.
1886.
been completed from Colorado Springs- to Newcastle, Colo-ado, 178
S
(B
(D
$
miles; road was opened for operation Sept. 1,1887, to Leadville, 133
Net earnings............
1,069,581
724,493
644,225
1,221,129 miles; branch to aspen, 17 miles. At Colorado Springs connection is
Rentals ana interest
129,497
211,396
213,032
263,626 made with Denver <&Pueblo over the Denver & Santa Fe road, which
165,531
13,805
..............
............ has just been constructed in the interest of the Atchison Topeka &
Miscellaneous..........
Santa Fe. The mortgage upon the property is for $6,250,0 )0, being at
Total income . . .
1,364,609
949,694
857,257 1.484,755 the rate of $25.000 a mile, and the stock is $5,000,000. See abstract
Tì'ì.Qh'tit/*Sì*,niì/>'>)/ e—.
of mortgage (Central Trust Company of New York, trustee), in V. 45,
Interest on d e b t....
507,453
602,540
659,385
702,810 p. 540. Mr. J. J. Hagerman, Colorado Springs, is the President.—(V.
Dividends................. (2) 299,984
............................................................ 45, p. 304, 509, 540.)
Miscellaneous...........
26,995
102,633
79,896
2,133
C o lu m b ia Sc G r e e n v ille (S. C .)—(See Map o f Rich, d Dan.)—The
company owns from Columbia to Greenville, S. C., 143 miles; branches to
Total disbursem’ts
834,432
705,173
739,281
704,943
Balance surplus.......
530,177
244,521
*117,976
*779,812 Abbeville and Anderson, 2 1 m ; total 164 miles. Also owns Laurens RR..
31 miles and leases Blue Ridge RR., 32 m., and Spartanburg Union &
* From the surplus as here given each year, there was spent for addi Col.RR., 69 m. Total operated, 296 miles. The Greenville <&Col. road
was sold in foreclosure April 15, 1880, and reorganization was made
tions to property: In 1885, $177,144; in 1886, $188,418.
INCOME ACCOUNT.
1884.
$445,937
Net earnings....................................
Disbursements—
Interest on bonded debt..............
Other interest and miscellaneous.
1885.
$240,440
1886.
$547,463
INVESTORS’
SUPPLEMENT.
[Voij.
xlv,
N ovember, 1887.]
KAILROAD
STOCKS AND
BONDS.
43
Subscribers w ill eonfer a great favor by givin g im m ediate notice o f any error discovered In these fa b le s
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,^When Due.
Miles Date Size, or
Amount
per When Where Payable and by Slocks—Last
of
Pai
For explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Cent. Payabl®
Road. Bonds Value.
on first page of tables.
Columb. Hocking Valley A Toledo—(Continued)—
Col. & H. V. 1st mortgage, sinking fund bonds..
Col. <fc H. V. 2d mortgage bonds............................
Columbus & Toledo, 1st & 2d mort. eo pon, s. f ..
OMo & W. Va., 1st M. (s. f. $15,000 begins in ’ 86)
Columbus Springfield A Cincinnati—1st mort.......
Columbus A Western—1st M. (end. by Cent. Ga.).c*
Columbus <6Xenia—Stock...........................................
1st mortgage.........................*...................................
Concord—Stock................................ ............................
Concord A Claremont—Bonds.......................... . .........
Concord A Portsmouth,—Stock, guaranteed............
Connecticut Central—1st mortgage, cp. or reg...........
Connecticut A Passumpsic—Stock..............................
Mortgage bonds.........................................................
Massawippi st’k, guar, same div. as Conn. & Pass.
do
bonds, guar, by Conn. & Pass.............
Newport & Bickford bonds, guar, by C. & P ........
Connecticut Rivet— Stocif........................................... .
Connecting (Phila.)—1st mortgage....................----Corning Cowanesque A Antrim—Debenture bonds..
Covington A Macon—1st M., gold ($12,000 per m.).
Cumberland A Pennsylvania—1st mortgage............
2d mortgage, sinking fund, (guaranteed).. ............
Cumberland Valley—Stock($484,900is preferred).
1st and 2d mortgages...................................- - .........
Southern Pennsylvania, 1st mortgage, gold— ..
Danbury ANorwalk—Stock.— ................................. •
1st and 2d mortgages............................................c*
Consolidated mortgage..........................................c*
General mortgage...................................................c*
Dayton Ft. Wayne A Ch.—1st M.($21,0i>0 p. m .)------Dayton & Ironton, 1st mortgage, g old ..................
121 1867 $500&c. $1,401,000
777,000
121 1872
1.000
3.040,000
118 ’75-’80 1,000
1,584,000
1.000
85 1880
1,000,000
1,000
45. 1871
800,000
1,000
60 1881
1,786,200
50
55
302,000
1,000
55 1860
1,500,000
50
172
500,000
71 1874 500 &c.
350,000
41
100
325,000
29 1875 500 &c.
2,500,000
100
147
1,500,000
110 1873 100 &o.
400,000
100
37
400,000
1,000
37 1870
350,000
1,000
22 1881
2,370,000
100
80
991.000
1,000
7 1864
1,250,000
1,000
78 1883
720,000
1.000
60 1885
803,500
1,000
38 1866
392,000
1,000
38 1868
1,777,850
50
82
270,500
500&C.
52
625,000
24
600,000
50
36*3
400,000
33 >70-’72 100 &c.
100,000
1880
150,000
100
36*3 1883
155
1885
1,000
under this name; preferred stock, $1,000,000; common stock, $1,000,000; par of shares $100. A majority of the stock was held by the Rich •
mond & West Pt. Terminal Co., and in May, '86, this road was leased to
the Rich. & 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.)
1,300,000
7
7
7
7
7
6
2
7
5
7
313
7
213
7
213
6 g.
5
2
6
6
6 g.
6
6
2ïs
8
7 g.
2*3
7
6
5
A. & O. N. Y. .Winslow, L. & Co.
J. & J.
do
do
Various
do
do
M. & N.
do
do
M. & S. Bost.,3 Merchants’ Row
J. & J. N. Ÿ., Nat. City B’k.
Q .-M . Columbus, 0., Treasurer
M. & S. N. Y., Am. Exch. N. B’k
M. & N. Bost.&Manchester,N.H.
J. & J. Bost., Treasurer’s office
J. & J. Bost. ^Manchester ,N. H .
A. & 0.
New York City.
F. & A. Bost. Safe Dep. & Tr. Co.
A. & O.
do
F. & A.
do
J. & J.
do
J. & J.
do
Q.—J. Boston, Springfield, &o.
M. & S. Phila., Penn. RR. Office.
M. & N. Phila. F. I.T. &S. D. Co.
M. & S. N.Y., Green & Bateman.
M. & S. N.Y., Consol.Coal Office
M. & N.
do
do
Q.—J. Phila. and Carlisle. Pa.
A. & 0. Phila., T. A. Biddle & Co.
M. & S.
F. & A New York and Danbury
J. & J. Housatonic RR., Bri’pt
do
do
J. & J.
A. & O. N.Y., Bank of Republic.
Oct. 1, 1897
Jan. 1, 1892
1900 & 1905
May 1, 1910
Sept. 1, 1901
Jan. 1, 1911
Sept. 10,1887
Sept. 1,1890
Nov. 1, 1887
1894
June, 1887
Oct. 1, 1895
Aug. 1, 1887
April 1,1893
Aug. 1. 1887
Jan. 1, 1890
Jan. 1, 1911
Oct. 1, 1887
1900-’ l-’ 2-’3-’4
May 1, 1898
Sept. 1,1915
March 1,1891
May 1.1888
Oct., 1887
1904 & 1908
Mar. 1. 1900
Aug. 15, 1887
1890-92
1920
1925
6 g. J. & J. Bost., Intern’l Trust Co. Jan. 1, 1925
INCOME ACCOUNT.
1885-86.
1886-87.
1883-84.
1884-85.
Gross earnings.......... $1,142,894 $1,100,864 $1,071,963 $1,166,847
$452,573
$479,475
Net earnings____ . . . . . $476,190
$406,379
Disbursements—
$112,532
$113,005
Rentals.......................... $144,593
$113,319
36,872
37,359
Taxes on stock............
37,360
37,755
Improvements and re
152,314
178,074
served for imp’ s, &c.
143,236 104,091
150,000
150,000
Dividends, 10 per cent.
150,000
150,000
C olu m b ia Sc P o rt P e p o slt.—Owns from Columbia, Pa., to
Port Deposit, Md., 40 miles. Leased to and operated by Pennsvlvania
RR. Co. Rental, net earnings. Rental in 1885, $33,150; in 1886, $51,l07. Capital stock, $497,100; funded debt, $1,882,000, and floating
$451,718
$478,438
Total disbursem’ts.
$475,189 $405,165
ebt (coupons), $1,004,290.
$855
$1,037
Surplus..... ................
$1,001
$1,214
—(V. 43, p. 210; V. 44, p. 65 2 .)
C olu m b u s Sc C in cin n ati m id la n d . -Line of road, Columbus,
Concord Sc C la re m o n t.—Owns from Concord to Claremont,
O., to Clinton Val., O., 71 m. Opened in Nov., ’84. Stock, $2,000,000. N. H., 56 miles; branch, Oontoocookville to Hillsborough, N. H.,
The company has a 50-years traffic agreement with the Baltimore & 15 miles; leased—Peterboro & Hillsboro BR., 18 miles; total operated,
Ohio andCin. W. & Balt, companies. Gross earnings in 1886, $320,259; 89 miles. Capital stock, $412,400. The lease to the Boston & Lowell
net, $112,795. Orland Smith. Pres., Cincinnati, Ohio. (V. 44, p. 495.)
RR. having been held invalid, this road was operated indepently after
July 1,1887. (V. 45, p. 26).
C olu m b u s H o c k in g V a lle y Sc T o le d o .—Owns main line
Concord Sc P o rtsm o u th .—Owns from Portsmouth, N. H., to
from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26; Manchester N. H.. 40^2 miles.
The road was sold to first mort
Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 14; total,328. gage bondholders in 1857, and leased to Concord RR. in 1862 for 99
This was a consolidation in July, 1881, of the Columbus & Hock years. Lease rental is $25,000 a-year, which gives 7 per cent a year to
ing Valley, Columbus & Toledo, and Ohio & West Virginia. The stocks present stockholders. There is no debt.
of those companies were purchased and new consolidated stock for
Connecticut C entral.—Owns from East Hartford, Ct., to Massa
$20,000,000 authorized; in August, 1885, a stock dividend of 133s per
cent was made, bringing the total outstanding up to $11,696,300. Of chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
the consolidated mortgage $6,500,000 was reserved to meet the prior miles- total operated, 28 miles. Leased to New York & New England RR.
liens, and the “ Hocking Coal & RR.” joined in making these bonds. The for 15 years from June 1,1880, the rental to be net earnings, but never
Central Trust Co. ofNew Y orkis trustee. The general mortgage of 1884 to exceed 6 per cent per year on stock. Capital stock, $448,500. Funded
covers the road, and is also a mortgage on the coal property of the debt, $325,000, all owned by New York & New England Railroad,
and on suit for foreclosure by the lessee company it was held that they
“ Hooking Coal & RR. Co.,” whose stock is owned by the C. H. & T.
A combination was made in 1885 with the reorganized Ohio Central must account to stockholders for the earniugs. Gross earnings in
by which the company will be under one management, as per the circu 1885-6, $81,912; net, $1,812; interest, $22,750; deficit, $20,938. (V.
lar in V. 40, p. 597, and the C. & H. V. guarantees the interest on the 44, p. 275, 713.)
Connecticut Sc B assu m p sic.—Owns from White River Junction,
T. & O. C. 1st mortgage bonds.
«
From Jan. 1 to June 30, in 1887 (6 months), gross earnings were Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
$1,239,123; net, $499,629.
The earnings of 1834 were greatly reduced by the miners’ strike in Railroad is at 6 per cent on bonds and same dividends as are paid on
the Hocking Valley, lasting from June, 1884, to March, 1885. Annual the stock of the lessee. From January 1,1887, this road was leased
report for 1886 in V. 44, p. 493; income for three years was as follow s: to the Boston & Lowell for 99 years on a basis to pay C. & 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. & L. took control), gross earnings were
1883.
1881.
1885.
1886.
$418,791;
net, $193,795.—(V. 43, p. 3 0 8 : V. 44, p. 400.)
Receipts—
$
$
$
$
Connecticut R iv e r .—Owns from Springfield, Mass., to South Ver
1,842,473
2,311,003
2,361,403
Gross earnings........ 2,779,382
977,306
601,819
978,010 non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Net re ceip ts........... 1,123,812
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles.
Disbursements —
In year ending Sept. 30, 1886, net earnings were $270,213; in 1886-87,
866,060
866,060
881,564
946.925 $263,773. Pays regular dividends on stock and has no funded debt,
Int. on bds. & car tr.
42,832 but notes payable, $450,000. (V. 43, p. 547; V. 45, p. 572.)
56,814
61,586
35,725
Int. on float’g debt..
22,277
22,902
22,581
22,628
Int. to Pa.RR.on l’se
C onnecting ( Pliiladel pliia)•—Owns from Mantua Junction to
1,490
18,750
Miscellaneous........
Frankford Junction, Pa., 7 miles. A connecting fink in Philadel
phia to the West and South. Operated by Pennsylvania Railroad.
970,542
945,151
1,031,088 Rental, 6 per cent on capital stock ($1,278,300); and interest on funded
924,413
Tot. disburse’ts.
sur. 6,764 def. 53,078 debt ($991,000). The bonds are issued in series A B C and D, maturing
Balance.................... sur.199,399 def. 343,332
respectively in 1900-’l , ’2, ’3 and ’4.
—(V. 43, p. 452,196; V. 44, p. 90,117,148, 211, 275, 400, 4 9 3 ; V. 45,
C orning C ow anesque Sc A n trim .—Owns from Corning, N. Y.»
p. 292)
to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
C olu m b u s Springfield Sc C in cin n a ti.—Owns from Columbus, Pa., 32; total operated, 85 miles. Consolidation (January, 1873)
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky of the Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874,
& Cleveland to Indiana Bloomington & Western, May 1,1881, for 3313 the Cowanesoue Valley RR. was absorbed. These lines are leased to and
per cent of gross earnings, with guarantee of $80,000 as minimum. operated by the Fall Brook Coal Co., together with 7 miles owned.
Of the excess over minimum, if any, on 3313 basis, this company takes Rental paid—6 per cent on bonds, 6 per cent on common stock and 7
one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital per cent on preferred stock; dividends paid quarterly, Maroli 31, &o.
Stock—common, $1,500,000, and preferred, $500,000. The coal line of
stock, $1,000,000, and bonds, $1,000,000.
Phila. & Reading and N. Y. Central is over the road of this company ,
C o lu m b u s Sc W e ste rn .—Owns from Opelika to Goodwater, Ala. which jointly guarantees the bonds of the Pine Creek Railroad
60 miles, and Columbus to Opelika, 29 miles—total 89 miles. The Company. Earnings in 1885-86, $614,688; net, $202,208; rental
Savannah & Memphis RR. was foreclosed June 5,1880, and this Com- paid C. C. & A. RR., $150,000; surplus to lessee, $52,208. Earnings in
any organized. Extension is in progress from Goodwater to Birming- 1884-85, $607,595; net, $179,195; rental paid C. C. & A., $150,000;
am, Ala., 70 miles, which is expected to be completed in January, surplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
1888. The bonds are endorsed by Cen. RR. of Georgia. There are
C ov in gton & M a c o n ,—Line of road, Macon, Ga., to Athens, Ga.
also $260,000 bonds at 8 p. c. due Oct., 1890, int. A. and O. Gross Eatonton
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,
C olu m b u s Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio, 10 Wall Street, New York City, is President.
55 miles. Is operated as a division of the Little Miami, and is leased
C u m berlan d Sc P e n n sy lv a n ia .-O w ns from Cumberland, Md.,
for 99 years in connection with that road to the Pittsburg Cincinnati & to Piedmont, Md., and several branches, 55 miles. It is owned and
St. 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
C u m berlan d V a lle y .—Owns from Harrisburg, Pa., to Potomac
Columbus & Xenia pays 82s per cent dividend per annum.
River, Md., 82 miles; leased—Martinsburg & Potomac RR., 12 miles;
Dillsburg
& Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
C on co rd .—Owns from Concord, N. H., to Nashua,N. H., 35 miles;
Manchester & North Weare, 19 miles; Hookset Branch, 7 miles; leased— 23 mil ft«; controlled, Mont Alto RR., 18 miles, but accounts kept sep
arate
;
total
controlled and operated, 141 miles. Owns or leases sev
Concord & Portsmouth, 41 miles; Sunoook Valley, 20 miles; Nashua
Acton & Boston, 20 miles; Manchester & Keene RR., 30 miles; total eral factory roads, in all about 43 miles. The stock is owned in large
operated, 172 miles. Fiscal year ends March 31. Annual report, in V. part by Penn. RR.Co. Large advances have been made to branch roads.
Operations and earnings on the main line for four years past w ere:
44, p. 652. Inoome account was as follow s:
t
E
INVESTORS’
SUPPLEMENT.
[Vol. x l y .
N ovem ber,
1887.]
RAJLKOAD
STOCKS
AND
BONDS.
4 S
Subscribers w i l l confer a great fa v or b y g iv in g Im m ed iate n otice o f a n y error discovered In tbese T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds. Value
on first page of tables.___________
Dayton dkMichigan—Com. stock (31fl&uar.C.H.&D.) 141
Preferred stock, (8 percent, guar. C. H. & D .).... 141
142
3d mortgage.............
. _ TT „ _
142
Consol, mortgage, guar, by C. H. & u ........... —
Toledo Depot 2d mortgage ....................................
32
Dayton <£ Union—1st mortgage, sinking fund..........
Income mortgage bonds............. ............. ------------ •
41
Dayton & 'W estern-1st M., guar. L. M. and C. & X .
100
Delaware—Stock........................... - — - --—- -----85
Mortgage bonds, convertible, guar. P. W. & B —
31
Delaware <£Bound Brook—Stock, guaranteed.. . . . .
27
1st mortgage.........................- ....................................
2d mortgage debenture bonds, r e g . . . . ...................
886
Delaware Lackawanna dk Western—Stock.- -- ---- -Consol, mort., on roads & equipm’t, ($10,000,000) 288
Plain bonds (not mortgage).................- - — ------44
Del. Maryland dk Fa.—June. & Breakwater—1st M.
44
June. & Breakwater, 2d m ortgage.........................
19
Breakwater & Frankford, 1st mortgage, r e g .......
35
Worcester Railroad, 1st mortgage, coupon............
Denver dkBio arande—Stock ($45,500,000).....— 1.317
. Pref. stock, 5 per ct., non-cum. ($28,000,000)— 1.317
295
1st mort., gold, sink, f ’d ........ - -- -- - ...................
Consol, mortgage, gold (for $42,000,000)......... c 1,447
370
Dtnv.dk JB.Gr.We8t.—1st, g. ($16,000 p.m.),cp.or reg
Coupon certificates (see V. 41, p. 273) . . . . . . . . . . . .
Denver South Park <&Pac.—1st M. gold, sinking id. 150
Consol, mort. gold ($17,000 per mile)........•
120
Denv. Tex. dk Ft. Worth—1st M. ($20,000 per mile). c
138
Denver Texas dk Qulf—1st mortgage..........................
88
Des Moines dk Ft. Dodge—1st mort., coup., g u a r.....
88
1st mortgage, income, guaranteed by C. R. l. <» P.
56
Mortgage on extension, guaranteed by O. K. x. & p
1871
1869
1881
1864
1879
1879
1864
1875
1875
1879
1877
1872
1860
1879
1873
1876
....
1870
1886
1881
1885
1876
1880
1887
1887
1874
1874
1881
$2,403,171
1,211,250
351,000
2,324,000
53,000
225,000
1,000
173,000
1,000
495,000
1,000
1,537,060
25
650,000
500 &c.
1,742,000
1,500,000
242,000
50 26,200,000
3.074,000
600,000
1,000
400,000
250,000
200,000
400,000
1Ö0 38,000,000
100 23,650,000
6,382,500
500&C.
500&0. 25,175,000
6,900,000
1,000
300
(1)
1,800,000
1,000
2,925,000
1,000
1,000
(?)
3,000,000
1,000
1,200,000
1,000
1,200,000
1,000
672.000
1,000
$50
50
1,000
1,000
1%
2
7
5
7
7
6
6&7
3
6
2
7
6
1%
7
7
4
4
4
4
*2^
7 g.
4 g.
6 g.
5
7
6 g.
5
5 g.
4
2ia
4
A. & O. N. Y., Winslow, L. & Co Oot„ 1887
Oct., 1887
do
do
Q.—J.
Oct., 1888
A. & 0.
do
do
Jan. 1, 1911
J. & J.
do
do
March
1,1894
M. & S.
do
do
J. & D. N.Y., Am.Exch.Nat.Bk. Deo. 1, 1909
After 1910
J. & D.
J. & J. N.Y., Bank of America. Jan. 1, 1905
July 2, 1887
J. & J.
Dover, Co.’s Office.
J. & J. Phil., Fid. I.T.&.S.D. Co. July 1, 1895
Nov. 16, 1887
Q.—F.
Philadelphia.
F. & A. Phila.,Guar.TT& S.D.Co. May, 1905
May 1, 1899
M. & N.
Philadelphia.
Q.—J. N. Y., 26 Exchange PI. Oct. 29, 1887
Sept. 1,1907
M. & S.
do
do
June, 1892
J. & D.
do
do
1890
J. & J.
Philadelphia.
1899
F. & A.
do
1898
J. & J.
do
1896
A. & 0.
do
—
Office, 47 Wm. St., N.Y. July 12,1887
M. & N. N. Y. Office, 47 Wm. st. Nov. 1, 1900
Jan. 1, 1936
do
do
J. & J.
M. & S. N. Y., 4th National Bk. Sept. 1, 1911
At will.
M. & S.
do
do
M. & N. N.Y., London& Frankf’t May 1, 1905
Jan. 1, 1921
J. & J. N. Y., Co.’s Agency.
M. & N. N. Y., Mercantile Tr.Co. Nov. 1, 1937
A. & O. N. Y. Co.’s Agency.
April 1937.
J. & J. N. Y., Morton, B. & Co. Jan. 1, 1905
June 1, 1905
J. & J.
do
do
June 1, 1905
do
do
J. & J.
Net
. -Div. p. ot.— SeStalSS^; in 1885, 8258-312958; in 1886,115@144; in l8 87 toN ov. 18,
Gross
Freight (ton)
"■
Earnings. Earnings. Pref. Com. inol., 1238) @139%.
Mileage.
Miles.
Years.
The following is a synopsis of the company’s income account for
10
$223,044
10
$793,063
30,018,284
1883.................. 125
four
years
from
the
report
in
C
hronicle
,
V.
44,
p.
273.
9ia 9>a
768,332
213,338
27.965,208
1884.................. 125
J
1883.
1834.
1885.
1886.
8
255.811
8
699,393
25,844,869
1885..................125
$
$
$
$
196,285
8
8
733,708
1886.................. 125
Grossrec’ts, all sources. 32,819,606 31,311,992 31,091,677 32,342,865
to
Wilson
D an b u ry Sc N o r w a lk .—Owns from Danbury, Conn.
Ooerating expenses.... 23,093,048 23,008,147 23,220,572 24,954,433
Point, South Norwalk, Conn., 261a miles; branches to Ridgefield and Betterm ents................ 1,072,816
385,033
443,182
164,029
Hawleyville, together 10 miles; total operated, 36*2 miles. In July,
1886, a lease of this road was made to the Housatonic for 99 years, the
Total expenses........24,165,864 23,393,180 23,663,754 25,118,462
lessee to pay interest and 5 per cent per annum on stock. In 1885-86 Netreceipts..................... 8,653,742 7,918,812 7,427,923 7,224,403
net earnings were $92,510; in 1884-5, $80,129. (V. 43, p. 334.)
IN C O M E A C C O U N T.
D ayton F o rt W a y n e Sc C h icago.—Road from Dayton.O.,to Iron1886.
1883.
1884.
1885.
ton. 155 miles (the former Dayton sl Ironton road), and projected —— Net receipts..................... 8,653,742 7,918,813 7,427,923 7,224,403
miles from the main line to Fort Wayne. This company was foraaed in Interest and rentals---- 4,946,943 5,113,322 5,187,089 5,186,711
June, 1887, by consolidation of the Dayton & Ironton and the Dayton
& Chicago by the Ives party to the Cinu. Hamilton & Dayton. Stockau- Balance, surplus.............. 3,706,799 2,805,490 2,240,834 2,037,692
thorized, $15,000,000. The bonds are for $5,500,000, authorized. F. Dividends......................... 2,096,000 2,096,000 1,965,000 1,834,000
B. Loomis, President, N. Y. (V. 45, p. 13, 53.)
8
7 hi
Rate of divideLds........
8
_ _ _ 7_ _ _
D ayton Sc M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
709,490
275,834
203,692
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton & B a la n c e a f t e r divid’ds.. 1,610,799
Dayton. Lease amended January 23,1870. The rental is the interest
G E N E R A L B A L A N C E A T C LO S E O P E A C H F IS C A L T E A R .
and sinking fund of debt, and 8 per oent on preferred stock and 3*3 per
1884.
1885.
1886.
1883.
A OSfitQ-—
cent on $1,003,300 common. Of the common stock only $1,003,300 is
$
$
$
guaranteed 3 ^ by C. H. & D. Profit to lessee in 1883-84, $161,990; RR. buildings, equip 33,089,386 34,250,418
34,508,047
34,496,431
m’t, coal lands, &c..
1884-85; $196,387; 1885-6, $215,219. The lessees held $1,399,273 of
5,449,713
5,374,918
4,770,654
6,503,851
Stks&bds,own’d,cost
the common stock, but sold this in June, 1887. lV. 44, p. 7 5 1.)
*527,121
*357,562
*897,331
*147,987
D ayton Sc U n io n .—Owns from Dodson, Ohio, to Union City, Ind., Net cash & cur. aoo’ts
1,049,712
941,372
1,221,174
1,265,810
32 miles; leased Dayton to Dodson, 15 miles; total operated, 47 miles. Materials, fuel, & o... _
T otal................... 41,007,034 41,276,965 41,181,899 41,385,590
The Greenville & Mia,mi RR. was sold out Oct. 30,1862, ind re-organ
Liabilities—
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 $165,3,674,000
4,044,900 4,044,900 3,674,000
Funded debt.......... .
975; net, $63,410. In 1884-5 gross earnings, $135,140 ; net, $45,694.
Balances....................
439,560
D ayton Sc W e ste r n .—Owns from Dayton, O., to State Line, Ind., Surplus a ccou nt. . . . . 10,322,574 11,032,065 11,307,899 11,511,590
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami Total liabilities......... 41,007,034 41,276,965 41,181,899 41,385,590
an <1 carried with that road in the general lease to the P. C. & St. L. The
* Net balance between liabilities and assets.
lessees are virtual owners and are answerable for all obligations.
—(V. 43, p. 580; V. 44, p. 149, 212, 2 7 3 ; V. 45, p. 212, 643.)
D e la w a re .—Owns from Delaware Junction (P. W. & B.), Del., to
D e la w a r e M a r y la n d Sc V ir g in ia .—Consolidation June 1,1883,
Delmar (Md. Line), 84 miles; branches, 16 miles; total operated, 100
miles. The Dorchester & Delaware and Queen Anne & K. railroads of the Junction & Breakwater, the Breakwater & Frankford and the
Worcester
railroads. Road extends from Harrington to Rehoboth, Del.,
now operated by P. W. & B. RR. The Delaware Railroad was opened
1855-60, and is leased for 21 years from 1876 to the P. W. & B. 44 miles; Georgetown to Franklin City, Va., 54 miles; total, 98 miles.
C o.; rental 30 per cent of gross earnings, but stock must have 6 per In July, 1885, the company passed into control of the Phila. Wil. &
cent. Gross earnings 1885-86, $671,738; net, $201,522; interest and Balt. RR. and became part of the Penna. RR. system. Earnings for
dividends, $130,734; surplus, $70,547; 1884-85, gross, $644,117; net, 1885-86, $149,357; net, $27,317; fixed charges, $50,000; def. $77,317.
D e n v e r Sc B i o G r a n d e (3 fe e t.).—(-See Maw)-Owns from Denver
$193,225; interest and dividends, $130,734; surplus, $62,501.
D elaw are Sc B ou n d B r o o k .—Owns from Bound Brook (Cent City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
of New Jersey) to Delaware River, 27 miles; branch, main line to Junction, to the western boundary of Colorado, where it oonneots
Trenton, 4 miles; total operated, 31 miles. In connection with Central with the Denver & Rio Grande Western, to Salt Lake City and Ogden,
the distance from Denver to Ogden 771 miles, and from Pueblo
of New Jersey and North Pennsylvania forms a line between New
York and Philadelphia. In May, 1879, the property was leased for to Ogden 651 miles. Branches run to Leadville, Dillon, Red Cliff, Crested
990 years to the Philadelphia & Reading Railroad Company—the lessee Butte. Silver Cliff, Chaffee, Aspen,Ouray and Hot Springs; also from Pueb
paying interest and 8 per cent on stock after May, 1883. Gross earnings lo to Silverton, via Cuchara, Alamosa and Durango, with branches to El
in 1885, $689,432; net, $381,916. In 1886, gross, $736,110; net., $397,- Moro, Española, Del Norte and Wagon Wheel G ap; total operated Dec.,
31 ’ 86 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.’ 104 miles, was finished Nov. 1,1887, and with third rail on other
D ela w a re L a ck a w a n n a & W e ste rn .—(SeeMap).—This company parts the total standard gauge Dec., 1857, exceeds 400 miles.
operates under lease an extended system of roads in New York, Penn
The former D. & R. G. Railway was foreclosed under the old consoli
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New dated mortgage, July 12,1856, and sold for $15,000,000. Reorganiza
York State line. 115 miles; branches—Scranton to Northumberland, tion was made under the title of Denver & Rio Grande Railroad Co.
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
Of the $42,000,000 consol, gold bds. (U. S.Tr. Co., trustee) authorized,
to Keyser Valley, Pa., 5 miles; leased lines m New York—N. Y. Lack. & $6 382 500 were reserved to retire the old bonds when due; $6,900,000
Western RR., 214 miles; Cayuga & Susquehanna RR., 34 miles; retained for acquiring the Denver & Rio Grande Western or
Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica to extend the Denver & Rio Grande to Ogden, and $5,525,800
Chenango & 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 & 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 & Essex, 118 holders Of the $45,500,000 common stock, $7,500,000 to be held to
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 aoouire the Den. & Rio Gr. West., or to build the line to Ogden, and $4,miles; Passaio & Del., 14; total operated, 886 miles; the Rome & Clin., 350 000 of pref. stock reserved for the same purpose. The rolling stock
13 miles, and Utica Clin. & Bing., 31 miles, were surrendered April, 1883 is owned by the company; and after reorganization the total annual
In 1882 the important connection to Buffalo, the N. Y. Laok. & West charge for interest on bonds was $1,349,775. The preferred stockholders
was opened, and the road was leased by this company. The Lackawanna have the right till 1891 to elect two thirds of the directors, unless divi
& Bloomsburg was consolidated with this company June 19,1873
dends are paid out of net earnings for two full years on the preferred
The Delaware Lackawanna & Western Railroad publishes no annual stock after whioh the directors snail be chosen by all the stockholders.
report in pamphlet form but merely a circular showing income
From Jan. 1 to Sept. 30, 1887 (9 months), gross earnings were
account and balance sheet. The road was operated mainly as a coal $5,721,293, against $4,750,697 in 1886; net, $2,347,048, against
carrier and distributer till 1882, when the line from Binghamton to $1,698,077,
^
„
Buffalo was built and leased to the Delaware Lackawanna & Western,
Earnings, expenses, &e., for four years were as follows, no earnings
and the company entered the field as a competitor of the trunk lines or expenses of the Utah leased lines being included in 1884 or 1885:
1886.
1884.
1885.
between New York and Buffalo.
1883.
1,317
1,317
1,317
The Delaware Lackawanna & Western formerly paid 10 per cent on its Miles oper. Dec. 3 1 ...
1,679
stock, but its numerous railroad leases became onerous, and in the dull
$
$
$
$
6,119,054
6,738,077
5,552,103
times, 1876 to 1880, no dividends were paid; in 1880 3 per oent was Total gross earnings. 7,361,546
3,935,273
4.227,417
paid; in 1881. 63t; in 1882,1883, and 1884, 8 ; in 1885,7%; in 1886, 7. Operating expenses . 4,743.111
3,758,530
Prices of stock yearly since 1870 have been: 1871,102@1118i; 1872, Net earnings............... 2,618,435
2,510,660
1,793,573
2,183,781
91'@1121a; 1873, 798s@106; 1874. 99311238; 1875,1068*3123; 1876, Other
46,740
67,227
34,401
receipts............
114,531
648 j® 12038; 1877, 30V ® 77; 1878. 41@6178; 1879, 43@ 94; 1880, 688s
Total income............ 2,732,966
1,827,974 2,251,007 2,557,400
-@11014; 1 8 8 1,107@131; 1882,116ii@150J4; 1883,1118a@1318); 1881,
46
INVESTORS’
SUPPLEMENT.
[V ol. XLV,
N ovem ber,
E AIL ROAD
1887.]
STOCKS
AN D
47
PONDS
Subscribers w i ll confer a great favor by giv in g im m ediate notice o f any error discovered in tbese T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When D u e,
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
of
Par
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Des Moines Osceola <£ Southern^-1st M.($6,000 p.m.)
Detroit Bay City dk Alp.—IstM ., g. ($15,000p. m .)..
Detroit Grand JIaven dkMilwaukee—S tock ................
1st equipment mortgage, guar..............................
Consolidated mortgage, guar...................................
Detroit H illsdale dk S. Tr.—Stock..................................
Detroit Lansing dk 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. ($20,000 per mile).o*
Dubuque dk Sioux Oily—Stock......................................
1st mortgage, 2d division.........................................
Notes to retire 1st mortg. (redeem, at pleasure)..
Duluth dk Iron Range—1st mortgage........ ................
I ll
170
189
189
189
65
268
268
222
59
32
53
143
43
97
ilOW JLULUAInetti,Ü-.................................................. I
Duluth South Shore dk Atlantic—S tock ............
Stock, pref., 6 per cent.....................................
90
D unkirk AUegh. Valley dkPittsburg—1st mort., gold
90
2d mortgage....................... ..............................
90
3d mortgage......................................................
30
East Broad Top.—1st mortgage, registered...
36
East Pennsylvania—Stock.................................
36
1st mortgage....................................................
East Tennessee Virginia dk Georgia—Common stock. 1.429
1.429
1st preferred stock (5 per ct. non cum.).......
1.123
2d preferred stock (5 per ct. non cum.)........
1.123
552
Consol, mort., "Divisional” bonds, g old ........
242
Old 1st mortgage sinking fund bonds.............
1880
1883
1878
1878
1877
1869
1883
1887
1864
1888
1887
1887
1887
1870
1870
1870
1873
1858
—
1886
1880
1870
1887
$879,000
2,300,000
1,500,000
2,000,000
3,200,000
1,350,000
100
1,825,600
100
2,510,000
2,487,000
500 &c.
770.000
1,000
566,000
1,000
1,160,000
1,000
100
4,999,950
586,000
500 &c.
295,000
1,000
1,750,000
1,000
(1)
12,000,000
10,000,000
1,000
4,000,000
2,000,000
1,000
1,000,000
1,000
1,000
200,000
1,000
500,000
1,714,950
50
495,900
100 &c.
100 27.500.000
100 11,000,000
18.500.000
1,000 11,869,540
1,000
3.106,000
1,000
3,123,000
1.000
1,000,000
$1,000
50
1,000
200 &c.
A. & O.
N. Y., Office.
A. & O. N. Y., Comp’ys Agency.
1896
1913
Dec. 31, 1884
Nov. 14,1918
Nov. 15,1918
July 5, 1887
Feb. 15, 1887
Aug. 15, 1887
Jan. 1, 1907
July 1, 1889
July 1, 1913
Sept. 1, 1927
Sept. 2, 1887
July, 1894
1888
Oct. 1, 1937
Oct. 1, 1937
New York, Agency.
5 g. J. & J.
7 g. J. & D. N.Y., N.Y. Cent. & Hud.
A. & O.
do
do
7
A. & O.
do
do
7
4
J. & J. Philadelp’a, Co.’s Office.
J. & J. Phila., by P. & R. RR.
3
M. & S. Phila., P. & R. office.
7
Jan. 1, 1937
June, 1890
Oct. 1, 1890
Oct. 1, 1890
July 1, 1903
July 19, 1887
Mar. 1, 1888
7
6 g.
2
6
6
2
3
3^3
7 "
8
6
5
11-10
7
5
5
5
J. & J. Last paid Jan. 1885.
J. & J. N. Y., Farm. L.& Tr. Co
A.
A.
J.
F.
F.
J.
J.
J.
M.
A.
J.
4
5 g. M.
5 g. J.
J.
7
5 e. J.
& O.
& O.
& J.
& A.
& A.
& J.
& J.
& J.
& S.
& O.
& J.
....
New York & London.
do
do
N. Y., Farm. L. & Tr. Co
Boston.
do
Boston, 2d Nat. Bank.
do
do
do
do
N. Y., John Paton & Co.
do
do
Office, 10 Wall Street.
Aug. 1,1887
& N. N. Y., Central Trust Co. Nov. 1, 1956
July 1, 1930
do
do
& J.
July 1, 1900
do
do
& J.
June 1, 1937
do
do
& D.
1883.
$
2,036,813
317,752
246,234
1884.
$
SS6*
00
rH
RR. In April, 1885, a receiver was appointed. Stock issued, $500,000;
1886.
bonds, $6,000 per mile. The road was sold in foreclosure November,
$
( 677,697 1887. (V. 44, p. 10, 308; V. 45, p. 672.)
572,364
Ren’lo f D.R.G.W. RR.
D etroit R a y City Sc A lpen a—(See Map).—From Alger, on Mich.
\ *520,92*8 Cent. RR., to Alpena, 105 miles; Loon Lake Branch, 18 m,; Mud Lake
225,213 )
Taxes and miscellan’s
Branch, 20 m.; other branches 27 m iles; total road 170 miles. Has a
572,364 1,198,625 traffic contract from Mich. Central. The mileage operated in 1886 w as
2,600,799
Total disbursements..
1,678,643 1,358,775 83 miles: the gross earnings were $242,061; net, $120,420. Stock author
132,167
Balance, surplus . . .
—(V. 43, p. 49, 73,131, 487, 547, 608, 745 ; V. 44, p. 21, 59,117, 211* ized is $2,000,000, issued $1,670,000. The mort. covers road and equip’t
at $15,000 per mile. From Jan. 1 to Sept. 30 (9 mos.) in 1887 gross earn
244, 466, 586, 6 5 2, 653, 808; V. 45, p. 538, 613.)
were $366,373, against $160,666 in 1886; net, $167,764, against
D en ver Sc R io G rande W estern (n a r ro w gau ge).—The mort ings
$86,478.
(V. 43, p. 572; V. 44, p. 308,335, 343, 553,621; V. 45, p. 85.)
gage covered lines in Utah Territory of about 469 miles in all, of which
D
etroit
G rand H a v e n Sc M ilw a u k e e .—Owns from Detroit#
there were completed to Jan., '87,312 miles, Colorado State Line to Ogden,
Ut., 312 miles, Bingham Junction to Alta, 18 miles; Bingham Junc Mich., to Grand Haven, Mich., 189 miles. This is a reorganization o f
the
Detroit
& Milwaukee which- was sold in foreclosure Sept., 1878.
tion to Bingham, 18 miles; P. V. Junction to coal mines 19 miles; other
coal mines, 3 miles—total, 370 miles. The stock issued on 469 miles is The bonds were guaranteed by the Great Western of Canada. From,
Jan.
1
to
Sept.
30,1887 (9 mos.), gross earnings were £181,640 in 1887,
$7,500,000. About $1,000,000 bonds have been issued on road only par
tially completed. In August, 1884, W. H. Bancroft was appointed against £187,209 in 1886; net, £44,796, against £55,975. Gross
earnings in 1886, $1,244,033 ; net, $372,773. In 1885, gross, $1,154,receiver o f the D. & R. G. W., but discharged in July, 1886.
Bondholders have generally accepted the proposal of August, 1885, 640; net, $314,860.
viz., that the coupons from Sept. 1,1886, to Sept. 1,1888, inclusive,
D etroit H illsd a le Sc S o u tk w estern .—Owns from Ypsilanti,
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 Deo. 28,1874, and this company organized by the bond
5 per cent is given for the coupons to Sept., 188o, and for the portion holders. In Aug., 1881, leased in perpetuity to the Lake Shore & Mich,
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.)
pany’s option by payment in full, and no dividend on stock can be paid
D etroit L a n sin g Sc N orth ern .—Owns from Grand Trunk
till it is redeemed. The full interest on bonds is $414,000, but under
the plan it was to be $205,689 in 1886, $253,575 in 1887, $263,925 in Juno., Mich., to Howard City, Mich., 157 miles; branches—Stanton Juno,
to
Big Rapids, Mich., 63 miles; Belding Branch, Ha miles; leased, Grand
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, Trunk Juno, to Detroit, 3 miles; Lansing to No. Lansing, 1 mile;
Alma to Howard City, 43 miles; total operated, 268 miles. A con
if all the certificates are then outstanding.
In April. 1886, an agreement was made to work harmoniously with 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.
The gross earnings for year 1886 were $1,057,093; net, $361,099. of Detroit Lansing & Lake Michigan RR., which was sold in foreclosure
Rental for rolling stock since July, 1886, has been out of the expenses. Dec. 14,1876, and new stock issued as above. In July, 1883, leased
From J a n .l, to Sept. 30 in 1887 (9 mos.) gross earnings were $824,222, the Saginaw <fe Western and endorsed the bonds.
In June. 1887, stockholders 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.)
D enver South P a r k Sc Pacific (3 ft .)—(See Map o f TJnion
Grossearn’s in 1885, $1,228,470; net, $457,199; int., $267,019: div’ds,
Pacific).—Denver,Col., to Nathrop, 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. 5 8 5 , 713.)
15 miles; Como to Keystone, 35 miles; Bear Creek Junction to Morrison,
D u bu qu e Sc Siou x City—Owns from Dubuque, Iowa, to Iowa
10 miles; Dickey to Leadville, 34 miles; Como to Mines, 4 miles;
Schwanders to Buena Vista, 4 miles; total, 322 miles. Stock owned by Falls, 143 miles. The former Dubuque & Pacific was foreclosed in I860,
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
$2,797,000. The U. P. operates the road, but has made no guaranty of the 1887, and in April, 1887, the stock was sold to Illinois Central, and the
stock or bonds; on May 1, ’87, the interest was defaulted, but paid in July. surplus in hand divided to stockholders. On Oct. 1,1887, the road was
In 1886 grossearn’ s, $1,246,538; def. on operations, $46,304; def. under operated separately, and earnings not included in Illinois Central.
interest, &c., $347,804. In 1885grossearn’s, $1,145,494; d e l, $16,129; In May, ’ 87, 5 p. c. in stock of Iowa Land & Loan Co. was paid to stock
def. under interest, &c., $320,869. (V. 44, p. 586, 627, 657; V. 45, p. 25.) holders. See V. 44, p. 21. (V. 45, p. 472.)
D u lu th Sc Ir o n R a n g e .—Road from Duluth to Vermilion Lake,
D e n v e r T e x a s Sc F o r t W o r t h . —(See Map o f Ft. W. dk Den. 0 .)—
Incorporated in 1887 to build from Trinidad, Col., to a connection with and branch, 97 miles, and under construction 30? miles to Chandler
Mine.
Sold to a syndicate in 1887, and in Sept., 1887, a new mortgage
the Fort Worth & Denver at the Texas State line, 120 miles, and to
lay a third rail over the Denv. & R. G. from Pueblo to Trinidad. Of was authorized for $3,500,000 to retire prior bonds, for improvements,
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
struction and equipment on the D. & R. G. third rail line Trinidad to Y. is trustee of the mortgage. H. R. Bishop, 15 Broad Street, N. Y.,
Pueblo; $200,000 for terminals in Pueblo and Trinidad, and balance at President. (V. 44, p. 653; V. 45, p. 472.)
$20,000 per mile on new road. Capital stock authorized, $30,0()0,000;
D u lu th South Shore Sc A tla n tic—(See Map).—This company
issued $500,000. J. T. Granger, Treasurer, No. 1 Broadway, N. Y. (V. purcnased at judicial sale October 20,1886, the Detroit Mackinac es
Marquette Railroad and property running from St. Ignace on the Straits
44, p. 499; V. 45, p. 642.
D en ver T ex a s Sc G u lf.—(See Map o f Ft. W. dk Den. O.)—Denver to of Mackinac to Marquette, Mich., 152 miles, tor $1,010,000, and assumed
Pueblo, 124 miles, and 13 miles branches.
On March 18, 1886, obligations on such purchase which made the whole cost to the D. S. S.
the Denver & New Orleans road was sold and this company & A. Company $3,040,000. The D. S. S. & A. Company in December,
organized. The company owns extensive terminal grounds in 1886. bought substantially all the pref. and com. stocks of the Marquette
Denver and coal lands at Franceville, which are covered by the Houghton & Onton. RR. Co., operating 160 miles of railroad, and on
first mortgage. The company has entered into a contract for Feb. 15,1887, the railroad and property of the M. H. & O. Co. was leased
consolidation with the Denver Texas & Fort Worth RR. Co., now in perpetuity to the D. 8. S. & A. R’way Co. Forty-eight miles of new
constructing, and with the Fort Worth & Denver city RR. Co., now ex road have been constructed from a point near Hendrie on the old D. M.
tending north, which will form a completed through line from Denver & M. east to Sault Ste Marie, where connection is made by bridge now
to Fort Worth, about 800 miles. The stock issued is in hands of a trus i Aug. 1, ’ 87,) nearly completed with the Canadian Pacific, and with the
tee, to be held till the road is built to the Ft. W. & D. C. RR. Jno. Grand Trunk when it reaches the Sault. The D. S. S. & A. line is under
construction from a point near Three Lakes on the M. H. & O. RR. west
Evans, Pres’t, Denver. (V. 45, p. 642.)
ward through the Gogebic Iron region, to a junction wi|h the Northern
D es M oin es Sc F o rt D od ge.—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 Rutliven, con through line from the Straits of Mackinac to Duluth, of about 400 miles
nectmg 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 $4,000,000 of first mort., five per cent,
1873. Common stock, $4,283,100; preferred, $763,500.
fifty-year gold bends, 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;; $l2,0u0,C00 of com. stock and
Rock Island & Pacific, for 19 years at a rental of 30 per cent of the gross $10,0c0,000 ot pref. 6 p. c. non-cum. stock.
earnings, with a guarantee of 4 per cent interest on the 1st mortg. and
The D. M. & M. security holders on the reorganization received D. S. S.
extension bonds, and 2*2 per cent per annum on the incomes, and road & A. securities as follows: Each holder of $1,000 of D. M. & M. 1st mort.
was delivered June 2,1887.
bonds received 6623 p. c. thereof in the D. S. 8. & A. 5 p. e. bonds and par
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. & M. income
int.,&c., $15,870. In 1885, gross eam’s were $382,420; net, $120,420. bonds received par thereof in D. 8. S. & A. pref. stock. Each holder of
Charles E. Whitehead. Pres., 61 Wall St. (V. 43, p. 579,738; V. 44, p. D. M. & M. stock received 60 p. c. of his holdings in D. S. 8. & A. com.
117, 308, 494, 681, 751, 808.)
stock. Provision was made for the distribution of an amount of D.
D es M oin es Osceola Sc Sou th ern . -Projected from Des Moines 8. S. & A. com. stock equal to 35 per cent of their par value. Jas.
la., to Kansas City, Mo., 300 miles, of which 111 miles, Des Moines to McMillan, Detroit. President; C. S. Brice, New York, Vice-President.
Cainsville, Mo., is built. In Aug., ’84, consolidated with Wis. Ia. & Neb. — (V. 44, p. 275,713,751; V. 45, p. 142, 274, 600.)
Disbursements—
4$
INVESTORS'
SUPPLEMENT
[Vol. XLV*
BOOTS.
AND
STOCKS
.RAILROAD
N o v e m b e r , 1887.]
50
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
Subscribers w ill corner a great favor by givin g im m ediate notice o f a n y error discovered in these fa b le s .
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size or
pal, When Due.
Amount
For explanation of column headings, &c.,see notes
Par Outstanding
of
of
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent
Payable
Whom.
Dividend.
East Tenn. Va.& Oa.—(Oont.)—Ala. Centrist, gd.,op.
95 1879 $ 1,000 $ 1,000,000
6
I. & J. N. Y., Central Trust Co. July 1. 1918
Knoxville & Ohio, 1st mort., g o l d ____ _________
1,000
70 1885
2, 000,000
6 g. J. & J.
do
do
July 1, 1925
East dt West Ala. -1 s t cons. M.. gold (?15,000 p. m.). 112 1836
1,000
1.709.000
J. & D.
New York Office.
Deo. 1. 1926
Eastern (Mass.)—Stock................................................. 285
100
4,997,600
i gBoston.
July 15, 1873
Preferred stock, 6 per c e n t..............
100
3,149,844
1836
3
Yf.'&’s.
do
Sept.
1, 1887
Essex R R .lst morf. (extended for 5 years in’ ’86).
194.400
1851 100 &o.
4*3 M. & S.
do
Sept. 15,1891
Certs, of indebt, part & (£398,400 at $4-87).......c
9 879,814
1876 500 &c.
6 g. M. & S. Boston and London.
Sept.,
1906
Debenture bonds (for $900,000), for refund........
Nil.
1837
4h) M. & S.
Boston. Offloe.
Sept. 1, 1906
Eastern (N. H.)—Stock.................................................
Too
492,500
16
214 J. & D. Boston, by Treasurer. June 15, 1887
Eel River—Stock.....................t .............................. .
100
94
1
2,792,800
Q .-M . Boston, by Treasurer. Aug. 15, 1884
Elisabeth. Lex.<6Big Sandy—1st mortg., gold'........... 110 1872
1,000
3.282.000
6 g. M. & S. N. Y., Mills Building.
Mar. 1,1902
Elm ira Cortland dt Northern—1st pref. M.,lgold o* 120 1884
1,000
750.000
A . & O . 115 B’way, New York. April 1, 1914
6
g.
1st mort., gold....................... ............ .....................
1,000
120 1884
1.250.000 4 to 5 g. J. & J.
do
do
April
1, 1914
Elm ira dt Lake Ontario—Stock................. ...............1
100
93
1.500.000
Baltimore, N. Cent. RR.
Sodus Bay & Southern 1st mortgage, g o l d .......
1,000
31 1884
500.000
5 g. J. &” j N. Y. Pa. RR. Agenoy. July 1, "Î924
Elmira dt Williamsport—Stock, common............... 1.
50
77
500.000
2*a M. & N. Phila., Penn. R. R. Co. Nov. 1, 1887
Preferred stock.........................................................
50
77
500.000
3ia J. & J.
do
do
July 1, 1887
1st mortgage bonds......................................
1,000
77 1860
1, 000,000
6
r. & j .
do
do
Jan. 1, 1910
Income bonds, 999 years to run..............................
500
1863
570.000
A. & O.
5
do
do
Oot. 1, 2862
Erie dt Pittsburg'■
—Stock............................................... 100
50.
1,998,400
Q.—M. N. Y., Union Trust Co. Sept. 10,1887
1%
..1.
2d mort., convertible............... .
81ia 1865 100&C.
91,800
A. & O.
7
do
do
Mar. 1, 1890
Equipment b o n d s.............................................I ...
1,000
100 1870
685.000
A. & O.
7
do
do
Oot. 1, 1900
Consol, mort. free of State tax (for $4,500,000)... 100 1868
1,000
2.485.000
J. & J.
7
do
do
July
1, 1898
Eureka Springs—1st M., gold, coup, may be reg__
1883
500.000
F. & A. N. Yi, Mercantile Tr. Co. Feb. 1, 1933
European dtNo.Am erican—Stock, guar. 5 per c t___ i"l4
Too 2.500.000
A. & O. Bangor, Treas. Offloe. Oot. 15, 1887
2
\
g'
Evansville dt Indianapolis—1st mort., E. & I. gold..
1,000
54 1884
699.000
J. & J. N.Y.. Farm. L. & Tr. Co. July 1,1924
Terre Haute & Southeastern—1st mort.............. .
40 1879
260.000
? g' M. & S.
do
do
Sept. 1, 1909
Ev. & Ind. Cons. M. (for $2,500,000) gold, guar.c* 135 1886
1,000
1.001.000
J. & J.‘
do
do
6
g.
Jan. 1, 1926
Evansville dt T. Haute—Stock................ .................. .
50
146
3,000,000
Q
.-J
.
Company’s
Offloe.
H
i
Oot. 20, 1887
1st consol, mort., gold........................................o*
1,000
144 1881
2,900,000
6 g. J. & J N.Y.,Farm. L’an& T.Co. July 1, 1921
1st mort., Mt Vernon Branch, gold................... .
1,000
25 1883
375.000
do
do
6 g. A. & O.
April 1, 1923
Evansville Terre H. dt Ohic.—1st M., gold, ¿it. guar..
1,000
55 1870
775.000
6 g- M. & N. N.Y.,Farm.L’an & T.Co. May 1, 1900
2d mortgage, gold.....................................................
1,000
55 1872
325.000
6 g. J. & J.
do
do
Jan. 1, 1902
. D u nk irk : A lleg h en y V a lley dc Pittsburg« —Owns from Dun by lessee on both properties pro-rata. Mortgage notes are $684,300,
kirk, N. Y., to Oil City, Pa., 107 miles. A consolidation of the Dunkirk secured by real estate.
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y
In Nov., 1886, the company offered to issue preferred 6 per oent stock
Central & Hudson River Co., but accounts are kept separate. Capital, in exchange for $3,150,000 of certificates of indebtedness, at par, thus
$1,300,000. There is usually an annual deficit below the interest charge reducing those certificates to $10,000,000, to enable the company to
&
Hudson
River
Co.
hold
$2,920,000
of
the
seouribut the N. Y. Central
resume dividends on the common stook, according to the agreement
ties. Gross earnings in 1885-86. $227,494; deficit under operating under which the certificates were issued.
expenses, $8,847. Gross in 1884-5, $216,796; deficit, $6,769.
Tne annual report for the year ending Sept. 30, 1887, gives the
E a st B ro a d T o p (P a .)—Owns from Mount Union, Pa., to Roberts
result of operation with Boston & Maine. Surplus inoome
dale, Pa., 30 miles. A coal road, opened in 1874. The stock is $815,602, divided, in accordance with the terms of the lease, as follow s:
In 1884-85 gross earnings were $89,070; net, $16,003. In 1885-86
.c.
nr
. t, „
.
To Bos. &M. To Eastern.
gross, $96,066; net, $5,223.
Boston & Maine Railroad (9 p. o.).......................$630,000
$ .............
100,000
B ast P e n n sy lv a n ia .—Owns from Reading, Pa., to Allentown, Pa. Eastern Railroad, sinking fund..............................................
Boston
&
Maine
Railroad!
(1
p.
o
.
)
..
.
.
...................
70,000
36 miles. It is leased for 999 years from May 1,1869, to the Philadel
336,000
phia & Reading RR., at a rental of 6 per cent per annum on the stock' Eastern Railroad, balance......................................................
and interest on the bonds. Austin Corbin, President, Philadelphi a.
_totaJ„
..................................................$700,000
$436,000
B ast Tennessee V irg in ia Sc G eorgia Railway,—(See Map .)— - (V . 43, p. 5 /9, 634, 671; V. 44, p. 149,184, 275; V. 45,p,13.)
Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka, 44
E astern (N. H .) —Owns from Portsmouth, N. H., to Seabrook
m.; Cleveland to Selma, 264 m.; Selma to Lauderdale, 95 m.; Ooltewah (Massachusetts State Line), 16 miles. It was formerly leased for 99
to Cohutta, 11 m.; Rome, Ga., to Macon, 159 m. (18 miles jointly with years to the Eastern (Mass.) Railroad, and a new lease was made from
Georgia Pacific); Macon to Brunswick, 190 m.; Cochran to Hawkins Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
ville, 10 m .; total, 1,015 m .; operates Lauderdale to Meridian, 18 m.; 4ia per cent per annum. Moody Currier, President, Manchester, N. H.
total owned and operated J udo 30.1887, 1,033 m. Controls the Knox —(V. 45, p. 612,)
ville & Ohio road, 66 miles, the lines of the Memphis & Charleston RR.,
®®I R iv e r .—Owns from Logansport., Ind., to Butler, Irid., ¿4
from Chattanooga to Memphis, Tenn., 310 m., and the Florence and miles.
This was formerly the Detroit Eel River <fe Illinois Railroid,
Somerville branches, 20 m., in all 396 m., making a total of 1,429 miles.
under foreclosure July 6, 1877. A lease of the road from April
This company, the E. T. Va. & Ga. Railway Co., was formed in 1886 as I, 1887,
made to Wabash & Western on the basis of 2 per cent
successor of the E. T. Va. & Ga. Railroad, which was sold in foreclosure yearly onwas
the s ock till 1892, then 2 ^ till 1895 and 3 p. o. thereafter.
May 2 5 ,1886. The first preferred stock is entitled to a non-cumula-ive
E
liza
b
eth
to w n L ex in gton & B ig Sandy.—(gee Map o f New
dividend of 5 per oent, and has “ the right for five years (till 1891) to
elect a majority of the Board of Directors of said company, unless be port News <& M ississippi Valley.)—Road owned Lexington to Junc
tion,
near
Denton,
102 miles; A. C. & I. Junction to Big Sandy River,
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.” 7 miles; total owned 110 miles. Leased Junotion with A. C. & I. Co.,
near
Denton
to
A.
C.
&
I. Juno., 21 miles. West Side Big Sandy River to
In January, 1887, a sale was made of $6,500,000 of the first pref.
Stock to the Richmond & West Point Terminal Company thus giving Huntington, 9 miles; total operated, 139 miles. In November, 1837,
them control of the road for five years unless dividends of 5 per oent the road between Maysville and Ashland was taken in by consolidation.
From Feb. 1, 1886, this road was leased for 250 years to the Newport
are paid on pref. stock for two years. (See V. 44, p. 119.)
The trustee under the consolidated mortgage of 1886 and the 1st ex News & Miss. Valley Co. on the basis of paying the annual net surplus,
tension mortgage of 1887 is the Central Trust Company of New York. if any, to this company. Authorized capital is $5,000,000. Amount
$7,325,000 consolidated bonds were reserved to retire prior bonds of issued $3,509,695, From Jan. 1,1887 to Sept. 30 (nine months), gross
earnings were $794,484, against $676,152 in 1836; net, $276,908.
the Alabama Central RR. and the E. Tenn. Va. & Ga. RR.
From July 1 to Sept. 30 in 1887 (3 mos.), gross earnings (not includ against $235,178. For year 1836 gross earnings were $937,529; net,
$333,616;
rentals and taxes, $48,266; interest, $196,920; surplus, $24,ing Knoxville & Ohio) were $1,249,808, against $1,003,270 in 1886’
net, $445,955, against $393,156.
.
’ 970. (V. 44, p. 90, 343, 344; V. 45, p. 642.)
From July 1 to Sept. 30 in 1887 (3 mos.), gross earn’gs of Knox. & O.
E lm ira Cortland & N orthern.—Elmira. N. Y., to Canastota, N.
were $120,686, against $86,967 in 1886; net, $24,658, against $19,233. Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to
The fiscal year ends June 30. The annual report for 1886-87 was Do Ruyter, 20 miles, are leased for 499 years. Organized May
ublished in the Chronicle, V. 45. p. 671 and 674. The results do not I I , 1878, as successor of the Utica Ithaca & Elmira RR. Co., foreclosed
lolude the operations of the Knoxville & Ohio.
April 30,1878. Again sold in foreclosure Feb., 1884, and re-organized
as at present. The 1st mort. for $1,250,000 bears 3 p. ot. for 3 years, 4
INCOME ACCOUNT.
p. ct. for 2 years, then 5 p. ct. Stock is $2,000,000. Gross earnings in
R eceipts—
1885-86.
1886-87.
1885-36, $369,265; net income, $29,931; interest, taxes, &o„ $66,812;
Total gross earnings................................... $3,778,291
$4,363,180 def.,
$36,882. Austin Corbin. President, New York Citv.
$1,260,744
Net earnings............................................
$1,354,489
E lm ira Sc L ake O n t a r io .-Owns from Canandaigua, N. Y., to
Disbursements—
Watkins, N. Y., 47 miles; to Chemung Junction, 17^ miles; Sodus
Interest on debt..........................................
$833,343 Point
to Stanley, 34 miles—total, 98 miles. This company was a con
Dividend on 1st pref. stock......................
............
440,000 solidation
in December, 1836, of the Elmira Jefferson & Canandaigua,
Other payments..........................................
............
the
Sodus
Bay & Southern and the Chemung Railroads, with st ock and
Total disbursem’ts................................
17177171
..............................................
$1,273,313 bonis as above. Ii is leased at oost of operating to the Northern Cen
Balance.
............
sur. $81,146 tral, whioh controls the stock.
■.....................
The Knoxville & Ohio gross earninesin 1886-7 were $408,517 and
E lm ir a Sc W il lia m s p o r t .—Owns rrom Williamsport, Pa., to
net $152,719.—(V. 44, p. 90,11 9 ,1 4 9 ,18 4 . 2LI, 343, 494, 621, 751 • V Elmira, N. Y., 77 miles. This company was reorganized under the
4,5, p. 53, 271, 272, 304, 400, 564, 613, 6 7 1 , 674.)
present name Feb. 29,1860, and leased to the Northern Central Rail
B a s t & W e s t R R . C o. o f A la b a m a .—Road will extend from way for 999 years from May 1,1863, at a rental of $151,500 per annum
Gainesville, Ga., to Birmingham. Ala., and branches, 207 miles of which after Jan. 1,1880. The dividends on the common stook are 5 per cent
completed to June, 1887,112 miles; an extension of 93 miles is also con and on the preferred 7 per cent. Gross earnings in 1884-5, $744,635 ;
templated. In August, 1887, the road was completed from Cartersville net, $273,730; surplus to lessee, $95,372. Gross earnings in 1885-6,
Ga., to Pell City, Ala., 128 miles. The above bonds were issued in 1887 $765,559; net $226,008; surplus to lessee, $47,818.
to take up $800,000 of prior first mortgage bonds and $500,000 of de
Erie Sc P ittsb u rg.—owns from New Castle, Pa., to Girard, Pa.,
bentures outstanding. Stock (authorized). $2,000,000, issued at the rate 82 miles; branch, Dock Junotion to Erie Docks, 3 miles; leased—
o f $10,000 per mile of completed road. From Deo. 1, 1886, to May 30 Girard to Erie, 15 miles; total operated, 100 miles. Road opened in 18651887 (6 months), gross earnings were $73,500; net earnings, $39 000- It was leased to the Pennsylvania RR. for 999 years from March 1,
surplus over interest, $6,000. E. F. Browning, Pres’ t, 403 Broome 1870, at a rental of 7 per cent on stook and interest on the bonds,
Street, N. Y. (V. 44, p. 621; V. 45, p. 211, 240, 573.)
and the lease was transferred to the Pennsylvania Co. The lease has
E a s te r n ( H a s s .) —Owns from Bosu<m, Mass., to New Hampshire been quite unprofitable to the lessees; the deficiency paid by them in
State Line, 41 miles; branches—Salem to Marblehead, 4 miles ; Bever 1881 was $233,522; in 1882, $207,651: in 1883. $260,071; in 1884.
ley to Gloucester, 17 miles ; Salisbury to Amesbury, 4 miles ; Revere $307,841; in 1885, $354,633 ; an 1in 1886, $225,794.
to East Boston, 3ig miles; Peabody to Wakefield, 8 miles; Salem
E u r e k a ~ S p r in g s .—Road extends from Seligman, Mo., to Eureka
to Lawrence, 20 miles ; others, 22 miles; leased—Eastern RR. of N. H 16 Springs, Ark.. 18 *a miles; projected to Harrison, Ark., 50 miles beyond.
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth’ 51 The capital stook is $500,000. There are also $500,000 non-cumulamiles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway 73 tive 6 per cent income bonds. There is a traffic contract with St. Louis
miles; Wolfeboro Railroad, 12 miles; total operated, 285 rimes & San Francisco, by which 15 per cent of freight earnings and 10 per
In March, 1883, a lease of this road to the Boston & Maine was voted oent of passenger earnings on business over that road are paid to this
for fifty-five years, but in November, 1884, this lease was deoided to be company. R. C. Kerens, President, St. Louis, Mo. (V. 45, p. 373.)
illegal in some respects, and a new one was negotiated for 54 years
urop ean Sc N ortk A m e r ica n . — Owns from Bangor, Me.,
from Oct. 1,1883, on the basis of combining the total earnings.pavine toEVanceboro
(State Line), Me., 114 miles. On Aug. 31, 1882, a lease
aU charges, and dividing the surplus income as follows : 1. To B & M
was made to the Maine Central for 99 years, for $125,000 per annum,
$630,000(9 per cent on its stock) ; to Eastern, $100,000 for sinking equal
to 5 per oent per annum on the stook, and assuming the bonded
fund; to B. & M., $70,000; to Eastern, $336,000; balance to be spent debt of $1,000,000, whioh is given under Maine Central.
S
i
s
STOCKS
AND
BONDS.
yew-AIb^
<*n»as
.RAILROAD
N A
\
Arkansas Cy.
}Johnson V ,l
Green V3
arKana
X /
I
»
___5 #
Sharkey -
w
.Jc
MAP OF THE
Palestine
\X
/
A
N ovember, 1887.]
e
S
p W oody llle
bru^ 5
EAST TENNESSEE,
V IR GI N IA & GEORGIA
¿8t.Pnuici8 V.
RAILROAD & CONNECTIONS.
SutBtoaSh projected. or tri progress <
52
INVESTORS’ SUPPLEMENT.
[Vou XLV.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par Outstanding
of
For explanation of column headings, Ac., see notes of
Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Whom.
Cent. Payable
Dividend.
$100
370
Bonds to State of Mass. (3 p. ct. lnt. till 1891.)...
’74-’87
Bonds, cou pon s.........................................................
Boston Barre A Gardner, 1st m ortgage................. 38*8 1873
do
2d mortgage...................................
1875
do
3d mortg. (convertible into stock)
1875
Bost. Hoosac Tunnel A West, debenture bonds...
1883
Flint dt Pere Marquette—Preferred stock.................. 361
Reorganization mortgage, gold ($5,000,000)........
302 1880
Flint & Holly R R .......................................................
17 1868
Holly Wayne A Mon., 1st mort., sink, fund, guar.
65 1871
Florida Railway dt Nav.—F. C. A W., 1st mort.. gold 234 1882
Florida Transit—1st mortgage................................. 155 1881
Peninsular of Florida—1st m ortgage.....................
50 1876
Fla.Ry.A Nav., consol, mort. gold........................... 530 1884
Fernandina A Jacksonville.....................................
24 1883
Florida Southern- -1st mortgage, ($12,000 per mile) 180 1883
Char. Har. Div.,1st,g.,pay Teat 110, $10,00 Jp.m.c*
81 1885
Fonda Johnstown dt Gloversville—1st m ortgage.......
10 1870
Consol, mortgage.......................................................
26 1880
45 1880
to r t Madison dt Northwestern—1st mort., gold_____
Fort Wayne dt Jackson—Pref. stock, (8 per cent)___
97
. ...
Common stock.................................................. .■.......
97
128
Fort Wayne Oinciwnati dt Louisville—Stock.............
Fort Worth dt Dcnv. City—1st M., g old ....................e* 342 1881
28 1870
Frederick dt Pennsylvania Line—1st mortgage........
Galveston Harrisb.dt S.Antonio—1st mort, gold, 1. gr. 256 ’ 71-’80
2d mortgage............................................................... 226 1880
Western Division, 1st mortgage, gold.................. 671 1881
do
do
2d mortgage.......... 671 1881
Galveston Houston dt Send, o f 1882—1st mort.,guar
50 1833
$7,000,000
2
13,794,600
5,000.000 3 to 4
1,000
7,790,600 4,41fl5 67
100 Ac.
391,000
5*7
....
186,300
3
....
57,300
6
1,000
1,400,000
5
....
6,500,000
3
1,000
3,999,000
6 g.
500 &C.
300,000
10
1,000
1,000,000
81,000
2,808,000
5 g1,000
1,000,000
6
1,000
250,000
7
1,000
4,042,000
6 g.
1.000
380,000
6
100 &c.
2,121,000
6
100 Ao.
801,500
6 g.
100 Ao.
300,000
7
100 Ac.
200,000
6
500&C.
320,000
7 g.
....
2,287,832
2%
431,747
4,000,000
1,000
6,788,000
6 g.
500 Ac.
250,000
6
1,000
4,756,000
6 g1,000
1,000,000
7
1,000 13,418,000
5 g.
1,000
6,354,000
6
1,000
2,000,000
5
E v an sv ille Sc In d ia n a p o lis.—Owns from Evansville, Ind., to
Terre Haute, Ind. (via Worthington), 135 miles; branch to Lancaster, 3
m.; to Brazil, 12 m.; total, 150 miles. In Oct., 1887, leased the branch
Brazil to Saline :_ity, 20 miles. This Co. was a consolidation in Oct.,’ 85,
of three corporations, viz.: the Evansville & Indianapolis, the Evansville
Wash. A Brazil and the Terre Haute A Southeastern railroads. Of the
consolidated mort. bonds, $1,260,000 are reserved to meet prior liens.
The consolidated bonds are guaranteed by the Evansville & Terre
Haute Co. Capital stock, $2,000,000. From Jan, 1 to Aug. 3 L in 1887
(8 mos.) gross earnings were $153,697, agaiust $121,300 in 1836; net,
$64,114, against $64,843. (V. 45, p. 26, 509.)
E v a n sv ille dc Terre H a u t e .— 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 & Logans>ort for 99 years from Nov. 1, 1879. Formerly the Evansville A Crawordsville RR. Co. The 20 per cent stock dividend of 1884 was the dis
tribution of $500,000 which had been held for some time in the treasury.
The bor ds falling due 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, $6,583. In 1885-6, gross,
$764,157; net, $388,977. (V. 43, p. 458, 4 8 6 ; V. 45, p. 26, 5 3 7 . 538.)
E v a n sv ille Terre H a u te Sc C h ica g o.—Owns from Terre Haute
Junction, Ind., to Danville, 111., 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 & Eastern Illinois was made for
999 years; terms, $75,000 per annum and the assumption by the C. A E.
I. of all rentals and taxes paid by E. T. H. A C. The bonded interest
was reduced to 6 per cent and preferred stock for $100,000 issued for
overdue coupons; common stock, $600,000. Josephus Collett, Presi
dent, Terre Haute, Ind.
F itc h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass, (double
track), 50 miles; from Greenfield to Massachusetts State line (double
track). 44 miles; and B. Barre & Gard. RR., Worcester to Winohendon, 36 miles; branches—Charlestown, 1 mile; North Cambridge
to Waltham, 8 miles; South Acton to Marlborough, 12 miles;
Peterborough A Shirley, Ayer, Mass., to Greenville, 24 miles: Ashburnham branch, 3 miles; leased and operated—Vermont & Mass. RR.,
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles; Trov
& Boston RR., Massachusetts State line to Troy, N. Y., 41 miles, an'd
branches, 5 m.; Boston Hoo ao Tunnel A West., Mass. State line to Rot
terdam, 61 m., and branches, 26 m.; total to Sept. 30, 1886, 370 miles.
The present company was formed by conso.idatmn in 1887 of the
Fitchburg RR., Troy A Greenfield RR. and the Hoosac Tunnel, the latter
purchased from the State of Massachusetts (See V. 44, p. 59.1 A con
tract for the purchase of the Troy A Boston railroad was also made of
which the terms were mentioned in V. 44, p. 544. The Hoosac Tun >el
Dock & Elevator Co. was taken in also for $1,512,500 of the Fitchburg
stock, and the Boston Hoosac Tunnel & Western road was purchased
for $3,600,000 preferred stock and $2,000,000 common stock, subject
to debenture bonds amounting to $1,400,000.
The stock Nov. 15, 1887, was given as above and total funded debt
June 30,1887, $16,540,000. An approximate estimate of the company’s
situation was in V. 45, p. 178. and the balance sheet of June 30,1887,
on p. 401. The fiscal j ear 6nds Sept. 30.
—(V. 4 4 ,p. 59,11 9 ,1 4 8 ,42 1 , 434, 494, 544,681; V. 45, p. 178, 239,400.)
F lin t Sc Pere M arqu ette.—Owns from Monroe, Mich., to Luding
ton, Mich., 253 miles; branches—Bay City to East Saginaw, 12
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles;
Saginaw A Mount Pleasant Railroad, 15 miles; total operated,
362 miles. The road was sold August 18, 1880, under the consol
idated mortgage, and reorganization was made. The common stock of
$3,500,000 has no present right to vote or to receive dividends, and
will be issued only after the preferred stockholders have received 7
per cent yearly dividends for five consecutive years. The preferred
stock is not cumulative, and after 7 per cent per annum is paid on both
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 the 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 1886 was $173,818. Annual report for
1886, in V. 44. p. 550. Earnings and operations for four years past were:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
f
Gross earnings........
2,542,943
1,946,790
2,2527988
Net earnings............
807,426
737,527
598,950
Disbursements—
Interest on debt.......
318,623
337,223
329,499
Dividends.................
455,000
455,000
260,000
Miscellaneous...........
4,226
Total disbursem’ts.
773,623
792,223
593,725
BaJancefortheyear. sur. 33,803 def. 54,696 sur. 5,225
p. 117, 434, 526, 5 5 0 ; V. 45, p. 613.)
2,160,771
649,669
*322,910
325,000
647,910
sur. 1,759
M. A N
F. A A.
A. A O.
A.. A O.
J. A J.
J. A J.
M. A S.
J. A J.
A. A O.
M. A N.
J. A J.
J. A J.
M. A S.
J. A J.
Q.—J.
J. A J.
J. A J.
A. A O.
J. A J.
A. A O.
A. A O.
M. A S.
J. A
A. A
F. A
J. A
M. A
J. A
A. A
Boston, Office
Bosttn, Office.
do
do
do
do
do
do
N. Y., Mer. Ex. Nat. Bk.
do
do
N.Y., Meroh. Nat. Bank.
do
do
Last paid, Jan., 1835.
Last paid, March, 1885.
Last paid. Jan., 1835.
Last paid, July! 1885.
Last paid, Jan., 1885.
Boston, Office.
do
N. Y., St. Nioh. Nat. B’k.
do
do
Last paid April, 1833.
N Y.,Farmers’ L.ATr.Co
D. N. Y., Mercantile Tr. Co.
O. Pennsylvania RR. Co.
A. N.Y., South. Pacific Co.
do
do
D.
N.
do
do
do
do
J.
New York.
O.
NToVr 1ft" 1887
1937
1894 to 1907
April 1, 1893
July 1, 1895
July 1, 1895
Sept. 1, 1913
July 15,1887
Oct. 1, 1920
Mav 1, 1888
Jan. 1, 1901
April 1, 1922
Mar. 1, 1911
May 24, 1906
July 1, 1924
July 1, 1923
July 1, 1923
Oct. 1, 1925
July 1, 1900
May 1, 1921
April 1, 1905
Sept. 1, 1887
Deo. 1,
Oct. 1,
Feb. 1,
June 1,
May 1,
July 1,
April 1,
1921
1900
1910
1905
1931
1931
1913
F lo rid a H a llw a y Sc N av ig a tion .—Miles owned in 1886 :
Jacksonville to Chattahoochee, 209 miles, and branches from Talla
hassee to St. Marks, 21 miles; and from Drifton to Monticello, 4 m.;
Fernandina south, 179 miles ; Waldo to Cedar Keys, 72 miles ; Wild
wood to Leesburg, 23 miles; Hart’s road to Jacksonville, 25 m.;
total, 532 miles, lu June, 1887, opened the extension to Plant City,
making a short route from J tek-en ville. In Maroh, 1814. the Florida
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, a id la November, 1887, sale was to be
made, but was postponed to Feb., 1888. B. S. Henning. Pres’ t, N. Y.
City. (V. 44, p. 494, 808; V. 45, p. 642.)
F lo rid a S o u th e r n (Harrow-gauge).—Owns from Pal a tka, Fla., to
Gainesville, 50 m.; R icheile to Leesburg to Brookville, 106 in.; Bartow
to Charlotte Harbor, 81 m.; Leesburg to Vstor, 50 m.; other Blanches,
23 m ; total owned, 310 miles. Capital stock, $10,000 per mile. There
are also $285,000 bonds of the St. John & Lake Eustis RR., 50 m., guar
anteed by this Co. Company has a State land grant of 13,810 acres per
mile. The proceeds of land sales go to purchase Charlotte Harbor Di v.
bonds at 110. J. W. Candler, Pres., Boston.
F o n d a J o h n sto w n Sc G lov ersv ille.—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,
$68,568 ; surplus over charges and 9*3 per cent dividend, $3,334. W.
J. Heacock, President, Gloversville, N. Y.
F o rt M adison & N orth w estern .—Narrow gauge road from Fort
Madison, la., to Collett, la., about 45 miles. Stock, $125,600. 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 an order of sale in foreclosure is
expected soon from the U. S. District Court. C. A. Gilchrist, Receiver,
Fort Madison, Iowa.
F o rt W a y n e Sc J a c k so n .—Owns from Jackson, Mich., to Fort
Wayne, Ind, 97 miles. The former Fort Wayne Jackson A Saginaw made
default on its bonds and was sold in foreclosure Deo. 3,1879. On Sept.
1,1882, leased perpetually to Lake Shore & Mich. Southern at a rental of
$126,027, equal to 5 ^ per cent on the pref. stock, and after 1887 any
net earnings over 8 per cent on pref. stock to be paid as dividend on
o mamon stock, but not exceeding 2 per cent a year.
F o rt W o r th Sc D enver C ity.—(See Map)—From Fort Worth, Tex.,
northwest, to Quanali, Tex., and beyond, 245 miles; has been completed
to 106 miles west of Quanah, but nor, yet in on ration Stock, $20,000
per mile, $6,400,000; par value.of shares, $100. Total stock author
ized, $20,000,0 JO. Bonds wer '■>authorized at $25,000 per m. for the 200
miles to near Quana'i, but beyond that point to be issued at $16,000 p. m.,
making the whole road average $13,‘ >00 per mile. They were actually
issue 1 i.t the first rate only to Harrel l, 144 miles ; beyond ar $ 16,00J
per mile. See abstract of mortgage, V. 45, p. 410. Trustee of mortgage
is the Mercantile Trnst Company of New York The road is under con
struction to the State line to form a junction with the Denver Texas A
Fort Worth, and thereby constitute a throu ih line from Denver via Fort
Worth to Galveston and New Orleans. Gross earnings year ending Oct.
31,1886, $423,130; net, $175,074 ; fixed charges, $165,000 ; surplus,
$10,074. From Nov. 1,1886, to Sept. 30,1887 (11 months), gross earn
ings were $534,639, azainst $361,770 in 1835-6; net, $257,116, against
«1 8,320. Morgan Jones, Pres., Fort Worth. —(V. 44, p. 60, 90,184,
o i l , 308, 39 i, 400, 43 4, 499, 526, 551, 681, 808 ; Y. 45, p. 25, 85, 142,
l66, 272, 342, 437, 440, 575, 642.)
Frederick Sc P en n sy lv an ia L in e .—Owns from Kingsdale to
Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which
pays interest on first mortgage. Preferred stock held by Pennsylvania
RR., $461,000; common stock, $318,100 ; floating debt, (coupons, Ac.),
$184,645. Gross earnings in 1886, $53,312; net, $1,975. Charles E.
Trail, President, Frederick City, Md.
G alveston H arrisb u rg Sc San A n to n io .—(See Mop o f Southern
Pacific.)—Owns from Houston, Texas, to San 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 $27,084,372. The
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
bought by Southern Pacific parties. Thè mortgages on the Mexican
Pacific extension cover 636 miles of road, from San Antonio to El
Paso, and the Eagle Pass branch, 35 miles—671 in all.
On Fe >. 10,1885, this property was leased for 99 years to the Southern
Pacific Company, 1he lessee agreeing to pay Interest on the debt, and
a farther sum equal to 16^ p ercen to! the net profits on the whole
Southern Pacific system. '■%
RAILROA1 STOCKS AND BONDS.
Î887,]
N ovem ber,
MAP OP THE
FORT AND
WORTH
DENVER CITY
RAILWAY &. CONNECTIONS.
~
...
.
■'------------
54
INVESTORS’
SUPPLEMENT.
[VOL. XLV.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f a n y error discovered In tbese Tables.
DESCRIPTION.
Bonds—PrinciINTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Duew
Amount
For explanation of column headings, &c., see note8 of
Par
of
Rate
per
When
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Geneva Ithaca dt Sayre—1st M., (for $1,500,000)...r . . . .
1885 $1,000
$750,000
6
J. & J. Phila., Company’s office.
Jan., 1910
Ithaca & Athens, 1st mort., s. f., gold............ .. . c
35 1870 lOO&c.
600,000
7 g. J. & J.
do
do
July 1, 1890
jGeorgia Midland & Gulf—1st M. g,($15,000 p. m.) .o*
1,000
98 1886
1,470,000
J. & J. N. Y., Central Trust Co. July l't 1926
6
gGeorgia Pacific—1st mort., $10,000 per mile.......... 313 1882
1,000
3,173,000
6
J. & J. N. Y., Central Trust Co. Jan. 1 / 1922
2d mort., income, cumulative ($15,000 p. m .). . . . 202 1883
1,000
3,901,000
6
A. & O. N. Y ., Metropol’n Tr. Co. Oct. 1,' 1923
Georgia Railroad dt Banking Oo.—Stock................... 307
100
....
4,200,000
Q .-J . Am.Ex.Bk., N.Y.,&Aug Oct. 15, 1887
2ia
Bonds, not mortgage.................................................
1,000
....
100,000
I. & J.
7
do
do
Jan. 1, 1890
Bonds, not mortgage ($300,000 mature in 1922).. . . . . 77&80 1.000
2.300,000
6
J. & J.
do
do
’97,1910,1922
Bonds, not mortgage............... ................ ..............
1,000
1887
200,000
5
J. & J.
do
do
Grand Rapids <t Indiana—Stock...............................
100
599
4,985,081
1st mort., land grant, gold (guar, by Pa. RR)....... 367 1869
1,000
3,934,000
7 g. J. & J. N. Y., Winslow, L. & Co. Oct. 1, 1899
1st mort., gold, ($675,000 are land grant)............. 367 1869
1,000
1,441,000
do
do
7 g. A. & O.
Oct. £ 1899
Six per cent mortgage............................................... 367 1884
1,000
2,700,000
M. & N.
6
do
do
Nov. 1,' 1899
Consol, mortgage for $13,000,000, coup, and reg. 367 1884
1,000
3,217,000
M.
&
S.
5
do
do
Sept. 1,' 1924
Mortgage (gold) on Muskegon Division.................
1,000
42 1886
750,000
do
do
5 g- J. & J.
July 1, 1926
Green Bay Winona dt St. P aul—1st mort. coup.......
1,000
219 1881
1,600,000
F. & A. N.V.Farmers’ L.&Tr.Co Feb'. 1,’ 1911
6
....
Funded coupon bonds............................................
....
1886
F. & A.
280,830
6
do
do
Aug. 1, 1906
1,000
2d mort. income bonds, reg.. non-cumulative....... 219 1881
3,781,000
8
M. & N.
None ever paid.
May 1,' 1 9 Ü
1,000 11,724,000
G ulf Colorado dt Santa Fe—1st M., g. ($12,000 p.m.) 1,002 1879
7 g. J. & J. N. Y.. Nat .City Bank. July 1, 1909
2d mortgage ($8,000 per mile), gold...................... 1,002 1885
1,000
6,000,000
6 g. A. & O.
do
do
Oct, 1, 1923
1,000
G ulf & Ship Island—1st mort., gold.......................c* . . . .
1887
<?)
N. Y., Agency.
6 g- J. & J.
Jan. 1, 1927
100
Hannibal dt St. Joseph—Common s to ck ....................
295
9,168.700
Preferred stock (7 p. o. yearly, not cumulative).
100
292
....
5,083,024
F. & A. N. Y., Company’s Office Feb. 15,1883
3
Consolidated mort. (for $8,000,000)....................... 292 1881
1,000
6.643,000
5 & 6 M. & S. N.Y., Bk.of No.lAmerica. Mar. 1,1911
Bonds Quincy <&Palmyra R R ..................................
....
....
15
433,000
F. & A.
8
do
do
Jan. 1, 1892
....
Bonds Kansas City & Cam. R R ...............................
53 1867
1,076,000
10
J. & J.
do
do
Jan. 1, 1892
Harrisb. Portsm'th Mt. Joy & Lane.—Stock...............
50
....
54
1,182,550
3>a J. & J.
Phila., Co.’s Office.
July 10,1887
1st mor., registered (extended 30 years In 1883).
54 1853 500 &c.
700,000
4
J. & J.
do
do
July 1, 1913
Harrisburg dt Potomac—1st mortgage, coupon........
38 1874 100 &c.
507,200
7
J. & J. Phila., Third Nat. Bk. Jan. 1, 1904
100
H artford dt Connecticut Western—Stock.................... 108
2,550,200
l'a
Dec. 1, 1882
1,000
1st mortgage.............................................................. 104 1883
610,000
5
J. & J.
Hartford.
July l j 1903
Rousatonic—Stock........................................................ 164
100
820,000
Preferred stock, 8 per cent, cumulative................. 164
100
1,180,000
—
3
Bridgeport, Office.
Jan. 10,1887
From January 1 to Sept. 30 in 1887 (9 months), gross earnings were
INCOME ACCOUNT.
$2,385,558, against $1,920,582 in 1886; net, $380,337, against $240,1883.
1884.
1885.
109 in 1886- The annual report was in V. 44, p. 750. Earnings ana
1886.
$
$
$
income account for two years were:
$
Gross earnings........
2,361,605
2,116,299
1,946,143
1885.
1886.
2,098,127
$3,199,077 Net earnings............
Gross earnings.................................................$2,599,462
640,098
613,720
603,715
760,593
1,704,970 Total disbursemts...
Operating expenses........................................ 2,322,423
533,070
567.602
744,413
746,406
$277,039
Net........f .................................... .............
$1,494,107 Balance.....................sur. 107,028 sur. 46,118 def. 140,698 sur. 14,187
Rental received from T. & P. R. R ............. ..........54,y00
54,900
—(V. 43, p. 245, 398, 515, 634 ; V. 44, p. 22, 184, 235, 300, 434).
Total surplus.'........................................... $331,939
$1,549,007
B a y W in o n a Sc St. P a u l.—Owns from Green Bay, Wis.,
Taxes.......................
51.771
61,555 toGreen
Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
Additions and betterments............................
83,168
68,444 to Steven’s
6 miles; total, 225 miles. This was a reorganization in
1,402,886
Interest on bonded debt......................
1,384,245 1881 of thePt.,
Green Bay & Minnesota, which company made default and
Interest on State of Texas debt....................
27,443
14,965 the road was
March 12, 1881. Preferred stock is $2,000,000, and
Old cla im s.....................................................
20,546
19,601 entitled to 7 sold
per cent when earned, and common stock $8.000,000,
$1,548,810 both stooks $100 shares. On Feb. 1,1885, default was made on the first
Total payments.......... ............................. $1,585,814
Balance.............................. ................ def. $1,253,877
sur. $196 mortgage interest, and the trustee of the mortgage took possession, and
in 1886 bondholders consented to fund the three overdue coupons and
—(V. 44, p. 344, 7 5 0 .)
the company resumed payment of interest on August 1. For
G alveston H o u sto n & H en d erson o f 1 8 8 2 .—Owns from Gal 1884-85 gross earnings were $303,190; net, $33,043, ; taxes and inter
veston, Texas, to Houston, Texas, 50 miles. The road was sold in fore est, $102,5 8a In 1885-86, gross, $314,470; net, $39,052. Samuel Sloan,
closure Deo. 1, 1871, and again Aug. 1,1882. It is now leased for President, New York. (V. 43, p. 96, 368.)
99 years, to the International & Great Northern Railroad Company and
G u lf Colorado Sc Santa F e .—(Nee Map)—Mileage as follows: Gal
bonds guaranteed by that company. Stock of the new company is veston
to Gainesville, 420 miles; Alvin to Houston, 24; Somerville to
$1,000,000. In 1886 gross earnings were $401,031; expeases, $395,355; Conroes,
71; Temple to Coleman and Bollinger, 196; Cleburne to Honey
net, $5,676; interest and taxes, $118,467.—(V. 44, p. 400.)
Grove, 132; total, 833 miles. Road was sold and reorganized April 15.
G eneva Itliaca Sc Sayre.—Owns from Geneva, N. 1 ., to Sayre, 1879.
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles;
In July, 1885, the old second mortgage at $13,000 per mile was retired
Hayt's Comers branch (leased), 3 miles; total operated, 116 miles; and canceled and the new second mortg. at $8,000 per mile was issued.
Organized October 2, 1876, as successor of the Geneva Ithaca & In April, 1886, the stock of this company was exchanged for the stock
Athens Railroad (sold in foreclosure September 2, 1876), which had of the Atchison Topeka & Santa Fe RR. Co., and the two properties thus
been formed by consolidation of the Geneva & Ithaca and Ithaca & consolidated. See V. 42, p. 630. An abstract of both mortgages was
Athens railroads, May 25,1874. In 1880 absorbed the Cayuga & South. given in V. 45, p. 241.
s
RR., 37 miles. The com. stock is $1,275,000; pref., $400,000; preferred
For the year 1885 the gross earnings were $1,916,963; net, $517,293.
stock is 8 per cent, cumulative. In year ending Sopt. 30, 1887, gross For the year 1886 the earnings and income account were as follows on
earnings were $424.454; net, $28,160; deficit under interest, $60,754. an average mileage of 669 miles operated: Gross earnings, $2,556,461;
In 1885-86, gross, $412,128; net, $46,122; interest payments, $81,630; net, $672,858; other receipts, $236,282; total net, $909,141; interest,
defioit, $35,507.
$762,660; taxes, &o., $73,776—$836,436; surplus, $72,7<>5. (V. 43, p.
G eorgia m id la n d Sc G u lf.—Road built from Columbus, Ga., t( 23, 245, 399, 619; V. 44, p. 21, 204, 495, 526, 551, 553, 751; V. 45, p.
v
McDonough, 98 miles. Stock, $12,000 per mile. N. Y. office, 7 Nassau St 241,342.)
G u lf Sc Skip Is la n d .—This road is under construction 21a miles
G eorgia P acific.—(Nee Map o f Richmond dt Danville.)—Atlanta
west
of
Mississippi
City
to
a
junction
with
the
Memphis
&
Charleston
Ga., to Starkville, Miss., 316 miles; Greenville, Miss., to Johnsonvilh
and branch (N. G.), 52 miles; total, 368 miles. The Georgia Pacific has just beyond the Mississippi line. The total length of the road, as pro
been built by Richmond & Danville Extension Company, and oper jected, is 350 miles, of which 60 miles from Middleton, Tenn , to Ponto
ated in the R. & D. system. TheR. & D. gives a traffic guarantee of 2C toc, Miss., is completed, and about 77 miles to connect with the New
per cent on joint business to pay coupons if needed, bun the coupons Orleans & Northeastern at Hattiesburgh is expected to be finished by
may be held as a lien. The capital stock is $7,000,000. Interest or January, 1888. The 1st mortgage is for an authorized amount o f
income bonds is cumulative, but it is convertible into income bonds $4*200,000, issued at $12,000 per mile; the 2d mortgage bonds for
SiS58^eArili£,g8 y ear ending Sept. 30, 1886, were $784,811 and net $2,800,000 are issued at $3,000 per mile.
$221,042. There are $279,802 car trust notes. The annual report was
H a n n ib a l Sc St. J o se p h .—Owns from Hannibal, Mo., to St. Jos epn.
in Y. 43, p. 745.—(V. 43, p. 334, 7 4 5 ; V. 44, p. 499.»
Mo., 206 miles; branches—Cameron to Kansas City 54 miles; St. Joseph
G eorgia R a ilro a d Sc H a n k in g Co.—Augusta, Ga., to Atlanta, to Atchison, Kans..21 miles; Palmyra to Quincy 111., 14 miles; total,
Ga., 171 miles; branches to Washington and Athens,60 miles; Warren- operated, 295 miles.
The Bridge across the Missouri River at Kansas City is owned.
ton, G,a.,to Macon, Ga., 76 miles; total owned and operated, 307 miles
The Western Railway of Alabama is controlled jointly with the Centra] The company received $3,000,000 in bonds from the State of Missouri,
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
o ^ uSU8ta RR., 76 miles, is owned by this company. The The U. S. Circuit Court decided the further sum of $476,049 to be due
the
State,
and the case is yet pending on appeal.
Port Royal & Augusta RR. is owned one-fifth part by this company •
In May, 1833, 90,090 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
associates, for the Central of Georgia and the Louisville & Nashville and par for the preferred, payable in C. B & Q. 5 per cent bonds at par.
Preferred
stock
has prior right to a non-cumulative dividend of 7 per
railroads, at $600,000 per year, payable semi-annually, and dividends
are 2-*a per cent quarterly; the deficit to these companies in 1884-85 cent; then common to 7 ; then both share. Fiscal year ends Dec. 31.
Annual
election
occurs
in November.
The income accounts have
on the lease was $98.599. In 1886-87 net income from all sources
including bank, was $670,802, leaving a surplus of $78,343 above all shown a surplus over all charges of $68,210 in 1886; a surplus of
£ ia% % ,ui.<2ludl.?£ 10 Per cent dividends. Total surplus of RR. Co. Mar $506,152 in 1885; a surplus of $445.168 in 1884; a surplus of
$353,698 in 1883, and a surplus of $39,810 in 1882 after paying
31,’ 1887, $1,083,665; of Bank, $217,644.
for a 6*3 per cent dividend on preferred stock. (V. 43, n.
G rand R a p id s dc In d ia n a . - (Nee Map o f Pennsylvania RR.)—Owns $330,395
308.)
from Fort Wayne Ind., to Mackmaw City, 367 miles; Manistee Branch.
H
arrisb
u rg P o rtsm o u th M o u n t J o y Sc L a n ca ster.—Owns
22 mUes; Missaukee Branch, 8 miles; Osceola Branch, 7 miles; total
owned, 404 miles; leased and operated: Cm. Richmond & Fort Wavne from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid
dletown,
Pa.,
to Columbia, Pa., 18 miles; total operated, 54 miles.
RR.. 86 miles; Traverse City Railroad, 26 miles; Bay View Little
Traverse & Mackinaw Railroad, 6 miles; Muskegon Grand Rapids & 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
Indiana RR., 77 m iles-155 miles. Total, 599 miles.
A
Grand Rapids & Indiana Railroad is operated in the interest interest on the bonds. Operated as a part of main line of Pennsylva
nia
Railroad.
of the Pennsylvania Railroad Co., and $4,000,000 of the first morteave
bonds were guaranteed by that company, which buys the coupons each
H arrisb u rg Sc P o to m a c .—Owns from Bowmansdale to Shippens
year if any remain unpaid by the earnings. First mortgage bonds re- burg, Pa., 32 miles; branch to mines, 5 ^ miles; total operated, 371«
faad are replaced by 5 per cent Donds issued. miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
* +vT?n- 8. on tiie Muskegon Division have a traffic guarantee applicable authorized, $1,800,000. Stock $379,165. Thomas W. Ahl, President,
to their interest payment.
Boiling Springs, Pa.
The Co. has a land grant, and sold in 1886 29,169 acres, for $268.200
H a rtfo rd Sc C onnecticut W e s te r n .—Hartford, Conn., to Rhine°?
j®®7, were 410,356 acres. The assets were cliff, N. Y., 108. Foreclosure suit was begun in 1880 against the former
$326,412 bills receivable and cash with cashier $32,085.
Conn. West., and the State Treasurer took possession. On May 25,1881,
Trom Jan. 1 to Sept. 30, in 1887 (9 months), the gross earnings of all bondholders reorganized, and stock in new company issued for bonds.
In March, 1882, the purchase of the Rhinebeck & Connecticut Railroad
2 S ^ & i S 3 “ j ‘ eah“ t *1.798,350 | I s f W »et,
was made. In August. 1887, Jas. W. Husted, of N. Y.. was elected
The income accounts for
r years were as follow s:
President, and this road was reported then as probably forming a part
RAILROAD STOCKS A N D BONDS.
N ovember, 1887.]
se
INCESTOUS’ SUPPLEMENT.
IVOL, XLT.
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te n otice o f any error discovered in these T a b les.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per When
Par
For explanation of column headings, &o., see notes of
of
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
H ousatonic—(Continued)—2d mort, bonds of 1869.
74 1869 $500&c.
$300,000
J. & J.
6
Bridgeport, Office.
July 1, 1889
Bonds...........................................................................
74 1885
100.000
4
A. & 0.
do
do
1910
Consolidated mort., reg.......................................... r
74 1880 500&C.
300,000
5
A. & O.
do
do
April 1, 1910
Rolling stock certificates..........................................
1S81
200,000
5
J. & J.
do
do
1889
1,000
Roust. Bast <£ West Texas.—1st M., gld ($7,000 p. m.) 192 1878
1,344,000
1898
7 «• M. & N. Last coup’npd.May, ’86
1,000
2d mort., land grant ($5,000 per m ile).................. 192 1883
6
J. & J.
(1)
Jan. 1, 1913
1,000
Houston <6 Texas Cent.—is t M., (main) gold, l.gr.,s.f. 345 1866
6,154,000
7 g. J. & J. Last paid July, 1885
July 1. 1891
1,000
1st mort., 1. gr., West div. (Hempstead to Austin) 119 1870
2,271,000
7 g. J. & J. Last paid July, 1885
July 1. 1891
1,000
1st M., gold,Waco & N’ west (Bremond to R o s s )___
58 1873
1,140,000
7 g. J. & J. Last paid July, 1885
July 1. 1901
1,000
Consol, mort., land grant, Main and Western Div. 464 1872
4,046,000
8
A. & O. Last paid Oct., 1884
Oct. 1, 1913
1,000
Consol, mort., land jh*ant, Waco & Northwest.......
NÜ.
58 1875
M. & N.
8
May 1, 1912
1,000
Gen. mort., gold (for $18,500,000).......................... 522 1881
4,305,000
6 g. A. & O. Last paid Oct., 1884
April 1, 1925
500
Huntingdon t£ Broad Top—1st mort., gold...............
64 1854
416,000
7 g. A. & O. Philadelphia, Office.
Sept. 30,1890
500
2d mortgage, gold......................................................
64 1857
367,500
7 g. F. & A.
do
do
Feb. 1, 1895
3d mortgage consolidated.......................................
1,000
64 1865
1.497,000
5
A. & O.
do
do
April 1, 1895
„
....
Scrip for interest 1st and 2d mortgages................
J. & D.
121,181
7
do
do
Dec. 1, 1889
Illinois Central—Stock..............................................)
100 40,000,000
(
.
...
M.
&
8.
3*3
N.
Y.,
214
Broadway.
Sept.
1, 1887
100 10,000,000
Leased line 4 per cent stock, guar, . t .................. $ 2,355 \ . . . .
2
J. & J.
do
do
July 1, 1887
Mortgage bonds, sterling......................................... 706 1875
£200
2,500,000
6 g. A. & O.
London.
April 1. 1895
£200
Sterling bonds, (s. fd. £20,000 drawn yearly) . .c ' 706 1874
3,900,000
5 g. A. & O. London,Morton R.& Co. April 1, 1903
Mortgage, sterling...................................................
£200
706 1875
1,000,000
do
do
5 g. J. & D.
Deo. 1, 1905
1,000
Mortgage bonds, gold............................................ c* 706 1886
1,500.000
4 g. J. & J. New York. 214 B’dwav. Jan. 1, 1951
Mortgage bonds, gold........................................... e* 706 1886
1,000
2,496,000
3*3 g. J. & J. N. Y., 214 Broadway
Jan. 1, 1951
£200
1886
Trust bonds Bterl’g, (secured by Ch.S.L.& N.Ô. cons.)
5,000,000
3*3 g. J. & D. London,Morton R.& Co. July 1,1950
1,000
Bonds, coup , mortgage onCh. & 8p. R R ............
111 1877
1,600,000
J. & J. N. Y., 214 Broadway. Jan. 1. 1898
6
1,000
Bonds, reg., mortgage on Middle Div......................
131 1881
968.000
F. & A.
5
do
do
Aug. 1, 1921
1,000
Chic.St Louis & N.O., 2d M. (N. O.J.& G. N .).... 224 1860
1,483,000
A. & O.
8
do
do
Oot. 1, 1890
1,000
do
do
1st mort.............................. 567 1877
M. & N.
1,398,000
7
do
do
Nov. 1, 1897
1,000
do
do
2d mort.............. ................ 567 1877
80,000
J. & D.
6
do
do
Deo. 1, 1907
1,000 15,030,000
do
do cons.M., gld. (for $18.000.000) 567 1881
do
do
5 g. I. & D.
June 15,1951
500
Illinois cêSi. Louis—1st mortgage............................
19 1875
200,000
J. & D.
8
St. Louis.
June 1, 1895
Venice & Carondelet mort., giïar............................
6 1880-2 1,000
300,000
6
Various
do
1900-’02
of the route to connect with the Poughkeepsie Bridge and form an allrail route across the Hudson River. In year ending Sept. £0, 1887,
ross earnings -were $350,484; net, $108,796; surplus over charges,
65,848. Gross In 1885-86, $348,964; net, $93,975; surplus over in
terest, &o., $55,027. (V. 44, p. 308; V. 45, p. 166, 212, 239, 642.)
CKonsatonic.—Owns Bridgeport. Conn., to State Line, Mass., 74
miles; Brookfield June, to Danbury, 6 miles; leases—Berkshire Railroad,
22 miles; West Stockbridge Railroad, 3 miles; Stockbridge & Pitts
field RR., 22 miles; Danbury & Norwalk RR., Danbury to Wiison, 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 noncumulative stook for the old, together with 100 per cent in the same
stock or a $100 bond, for the past-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, &c. 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 Housatonic leased the Danbury & Norwalk RR. for 99 years.
Fiscal ye_r ends Sept. 30. Operations and earnings have been as fol*
lows:
Passenger Freight (ton) Gross
Net
Div. %
Tears.
Mileage.
Mileage. Earnings. Earnings. Rentals. Pref.
1883-84----- 9,265,561
14,875,414 $676,759 $229,121$74,095 8
1884-85----- 8,835,567
14,890,424 645,859 249,632 74,102
5
1885-86----- 9,890,020
17,296,373690,016240,610 74,100
6
1886-87-----15,737,214
21,757,014 982,550 380,253170.022
3
—(V. 43, p. 334, 774; V. 44, p. 681; V. 45, p. 53, 472, 672.)
f
H o u s to n E ast & W e s t T e x a s.—Owns from Houston, Tex.,
to Sabine River at Logansport, 192 miles, and connects there with a line
to Shreveport, La. (Narrow gauge, 3 feet.) The company had a Texas
land grant of 10,240 acres for each mile constructed and equipped.
Bonds issued to the extent of $7,000 per mile first mortgage and $5,000
per mile second mortgage, but the 2d mortgage bonds were not sold
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.
G. Howe, Assistant Superintendent of the Houston & Texas Central,
was appointed receiver of this company. Interest is in default, and
the proposition made to bondholders was in V. 44, p. 244. (V 43 d.
181,547; V. 44, p. 244.)
'
y
H o u s to n & T ex a s C entral. (See map o f Southern Pacific.)—Owns
from Houston, Tex., to Red River City, Tex., 345 miles; branches
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to
Ross, Tex., 57 miles; total operated, 520 miles. Texas Central RR.
completed from Ross to Albany, 177 miles, with branch, Garrett to
Robert, 52 miles, is operated in connection with this road, but accounts
are separate. The company has a land grant from the State of Texas
of 10,2 40 acres per mile, amounting to about 5,130,720 acres; but the
lands are not on the line of the road. Mr. Morgan, of the Louisiana
Steamship Line, bought a controlling interest in the stook, and in
SP£theni; Pacific party purchased this interest
(»0,985,500 of tno stock) with their purchase of the Morgan nrooertv
Total stock is $7,726,900. The general mort. of 1881 for $18,500,000
is made to the Farmers’ Loan & Trust Co. as trustee, which company
holds $1,500,000 Income and Indemnity bonds and $1,149,000 consol
mortgage bonds as security.
The coupons due January 1,1885, on first mort. bonds were not paid
by the Co., but were partly purchased by the Southern Development Co.
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile,
covering 345 miles of road; it is also a first lien on ten sections of land
for each mile, or 2,208,000 acres. The second mortgage at 8 per cent
is a second lien on 463 miles of road and also a first Ben on six sections
of land for each mile of road, being 1,777,920 acres in all.
In Nov., 1886, a formal sale of certain lands was made as reauired bv
the grant. (See V. 43, p. 514, 579.)
J
In February, 1885, B.G. Clark and Chas. 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 afterwards put in possession of the property as receivers
with Mr. Dillingham.
The latest proposal for reorganization, &c., was in V. 44, p 653
The folio wing is the statement of gross earnings, operating expenses
amounts charged to renewals and betterments, and gross interest charges!
in each of the past four years/
® ’
E A R N IN G S , E X P E N S E S A N D C H A R G E S F R O M 1882 T O 1885 IN C L U S IV E .
r,
.
1883.
1884.
1885.
1886.
Gross earnings.............$3,251,875 $2,547,847 $2,739,915 $3,080,796
Ja»C]()(iYlSCS~~~
Operat’g, inol’gta xes.$1,743,771 $1,578,190 $2,052,377 $2,311 205
Extraordin’y rep’s, &o 687,392
549,699
77l l 9 2 )
Equipment...................
95,398
92,221
82,989 j
78,834
Total........................... $2,526,562 $2,220,110 $2,212,559 $2,390,039
Net earnings................ $725,313
$327,737
$527,366
$690,757
1883.
$62,394
40,697
1884.
$86,130
39,888
1885.
$22,418
45,698
1886.
$2,118
38.462
Surplus income.......... $622,220
Int. on bonded debtp’d 1,193,200
$201,718
1,193,200
$459,238
$650,177
Int. on floating debt..
Int. & prin. State debt.
Def. onint.forbond.d’t $570,979
$991,481
...................................
- (V. 43, p. 102, 131, 309. 515, 547, 579, 746; V. 44, p. 22,184, 526,
653, 681, 751; V. 45, p. 437, 642.)
’
'
H u n tin g d o n Sc B roa d T o p .—Owns from Huntingdon, Pa., to
Mt. Dallas, Pa., 45 miles; branches—Shoup’s Run, 9 miles; Six Mile
Rim, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 m iles;
total operated, 64 miles. This road was opened in July, 1856. The capi
tal stock is $1,369,050 common and $1,985,300 7 per cent pref. stock*
In February, 1884, a dividend of 75 cents per share was paid on pref.
stock, and in July, 1887, 2 per cent. Earnings in 1883, $424,494; net,
$196,651. In 1884, earnings, $333,560; net, $175,724. In 1885 gross
earnings $371,001; net, $191,709. In 1886, gross, $379,875; net,
$222,736. (V. 44, p. 184.)
Illin o is C entral.—(See Map.)—L ine of R oad—On Deo. 31, 1886
the mileage was: Main line—Chicago to Cairo, 365miles; East Dubuque
to Centralia, 341 miles. Branches—Otto to Normal, 111., 79 miles;
Buckingham to Tracy, 111., 10 miles ; Kempton Junction to Kankakee
June., 111., 42 miles; Gilman to Springfield, 111 miles; Park Site to South
Chicago, 5 miles; total in Illinois. 953 miles. Southern Division—New
Orleans, La., to Cairo, 111., 548 miles; branches: Durant. Miss., to Aber
deen, Miss., 108 miles; Jackson to Parsons, Miss., 115 miles; Schula to
Durant, Miss., 24 miles. Total owned, 1,747 miles. Leased—Dubuque
to Iowa Falls, 143 m iles; Iowa Falls to Sioux City, 183 miles; Watenoo
to Minnesota State Line, 76 miles. Total leased, 402 miles. Total
operated Dec. 31,1886, 2,089 miles. In Jan., 1887, took possession of the
road Champaign to Havana, with branch from Monticello to Decatur,
130 miles, and the narrow-gauge road West Lebanon, Ind., to Leroy,
111., 76 miles, making total operated after January, 1887, 2,355 miles.
Under construction: Chicago Madison & Northern, Freeport, 111., to
Madison, Wis., and Chicago to Freeport, about 170 miles. On Oct. 1,
1887, the Dubuque & Sioux City and Cedar Falls & Minn., and the Iowa
Falls & Sioux City, leased roads, were surrendered, and their earnings
no longer included in the Illinois Central’s.
Organization, L eases, <fec.—This company was chartered in Decem
ber, 1850, and organized in March, 1851, and the whole road, 707
miles, opened September, 1856. The Illinois Central was one of the
first, and has been one of the most successful, of the land grant roads.
The lands granted were upon the condition that the company
should pay to the State 7 per cent of gross earnings yearly in lieu of
taxes. The Springfield Drvision was acquired by a lease of theChicago
& Springfield (Gilman Clinton & Springfield foreclosed for 50 years,
but road is practically owned. The leased lines in Iowa were acquired
in 1887 by purchase of a controlling interest in their stook. The
company acquired a controlling interest in the Chicago St. Louis &
New Orleans Railroad, to which it made large advances. From July
1, 1882, leased the Chicago St. Louis & New Orleans for 400 years,
at 4 per cent per annum on stock and issued the above 4 per cent leased
line stock, in exchange for the Chic. St. L. & N. O. stock. Fiscal year
ends Dec. 31. Annual election held in March.
Stocks and B onds—The 4 and 3 *9 per oent bonds due in 1951 are under
the old main line mortgage of 1874, and this company was the first to
negotiate at par a 3*9 per cent bond. On the Chic. St. L. & N. O. the lessee
guarantees the principal and interest of all the outstanding bonds prior
to the 5 per cent bonds, and by an endorsement on the latter bonds
guarantees the payment of the interest on the same until the principal
is paid. Of the first mortgage bonds, $541,000 are a prior lien on
that portion of the road in Tennessee. The trust bonds of 1886 are
secured each one by a deposit of a $1,000 bond of the Chic. St. L. & N.
O consol. 5 per cent mort. and they also have the agreement that they
shall be secured by any future mort. that may be issued on the 111. Cant,
lines.
The company issued $10,000,000 new stock at par to stockholders
of June 1,*1887, the proceeds to be u»ed for acquisition of the leased
lines in Iowa for construction, &c.
Dividends paid since 1870 (prior to current year) have been: in 1871.
10 per oent; in 1872, 10; in 1873, 10; in 1874, 8 ; in 1875, 8 ; in 1876.
8 ; in 1877, 4; in 1878, 6 ; in 1879. 6 ; in 1880, 6 ; in 1881, 7 ; in 1882,
7 ; in 1883, 8 and 17 per cent in Chic. St. L. <&N. O. stock, exchangeable
for leased line certificates: in 1884,10; in 1885, 8; in 1886, 7*3. Prices
of the stock yearly since 1870 have been: in 1871, 132®139*3; in
1 8 7 2,119®140; in 1873, 90 ®126*s; in 1874, 90®108*3; in 1875, 88*9
® 106*3; in 1876, 60V® 103%; in 1877, 40*3®79; in 1878, 72V®87; in
1879, 79*4® 100%; in 1880, 99*3®1273s; in 1881, 124® 146*3! in 1882,
127%®150*s; in 1883,124 ® 1 4 8 ; in 1884, 110® 140; in 1885, 119*9
®140; in 1886,130® 143*3; in 1887 to Nov. 18, inclusive, 114®138.
Operations and F inances.—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rich territory, of which it
was the only outlet to Chicago. But the building of numerous east and
west lines crossing its road cut into its business severely, The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property, and in 1897 acquired
the leased lines In Iowa by purchase of their stocks.
November , 1887.J
RAILROAD STOCKS AND
ST
BONDS,
MAP
OF
THE
ILLINOIS
CENTRAL R. R.
AND CONNECTIONS.
58
INYESTOKS’
SUPPLEMENT.
[Voli XLY.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese T ables.
Sonets—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
Amount Rate per When Where Payable, and by pal,When Due.
par
For explanation of column headings, &c., see notes of
of
Slocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Pay’ble
Whom.
Dividend.
Indiana Bloomington A West.—Stock......................... 543
1st mort., preferred, coup, or reg........................... 202 1879
1st mortgage, coup., may he reg............................. 202 1879
Income bonds, reg., convertible............................ 202 1879
Consol, income bonds for $6,000,000.....................
342 1881
2d mortgage, coupon or reg..................................... 202 1879
1st mortgage, gold, Eastern Division.....................
140 1881
Sinking fund debentures...........................................
1883
Indiana Illinois A Iowa—Bonds...............................
120 1882
Sid mortgage, r e g . . . . . . . . . . . ........................ .............
120 1883
Indianapolis A St Louis—1st mort., in 3 series.......
72 1869
72 1882
Mort for $2,000,000, gold, (end. by C. C. C. & I.).
Indianapolis A Vincennes—1st mortgage, guar....... 117 1867
2d mortgage, guaranteed...................................... 117 1870
Indianapolis A Wabash—1st mort., gold.................... 153 1876
Iowa Falls A Sioux City—Stock........................ ........... 184
1st mortgage. April 1, ’69........................................
184 1869
Ithaca Auburn A West.—1st mort.(for $500.000)___
3 8 % 1876
2d mortgage, (income for 3 years)..........................
3 8 % 1877
Jacksonville Southeastern—1st mortgage..................
54 1880
General mortgage.................................................... 112 1882
Jacksonville Tampa A K ey West—1st mortgage, gold 130is 1884
Jefferson (P a.)—1st & 2d morts. (Hawley Branch)..
9 1867
1st mortgage (Susquehanna to Carbondale)..........
38 1869
Jeffersonville Madison A Indianapolis—S tock ........ 222
Jeff., Mad. Ac Ind., 1st M. (s. f. $15,000 per year). 159 1866
do
do
2d m o r t ....................
159 1870
Jersey Oity A Bergen —1st mortgage..........................
6 1873
44 1877
Joliet A Northern Indiana—1st mort., guar, by M. C.
Junction (Philadelphia).—1st mort. (extended)___
3-6 1882
2d m o r t g a g e . . . . . . . . . . . . . . . . . . . . . . . . . . ......... .
3-6 1865
Kanawha A Ohio—1st mort. ($10,000 p. m .)............ 115 1886
Kansas Central—1st mortgage (for $3,200,000)___ 168 1881
$100 $10,000,800
100 &c.
1,000,000
7
500 &c.
3.500,000
5 to 6
100 &c.
72,300
6
1,000
4,688,000
6
500 &o.
1.500,000
5 to 6
1,000
3,000,000
6 g.
1,000
500,000
6
1,000
6
600,000
500
341,000
6
1,000
2,000,000
7
1,000
500,000
6 g.
500 Ac.
1,700,000
7
1,000
1,450,000
6
1,000
1,800,000
7 g.
100
4,600,000
I 1«
500 &C.
2,800,000
7
100 &0.
400,000
7
100 &c.
498,090
7
1,000
300,000
6
1,000
879,000
6
1,000
1,566,000
6 g1,000
300, uOO 4*s & 7
1,000
2,000,000
7
100
2,000,000
1%
1,000
2,563,000
7
1,000
1,995,000
7
1,000
258,000
7
1,000
800,000
7
1,000
425,000
4*8
1,000
300.000
6
1,000
727,000
6
1,000
1,348,000
6
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
INCOME ACCOUNT.
1886.
1883.
1884.
1885.
R’d op’rat’dDec. 31.
2,149
1,928
2,066
2,066
Receipts—
$
$
$
$
Gross earnings........ 13,064,743 12,190,833 12,621,264 12,529,494
Net earnings............
5,988.790
6,629,472 6,062,321
5,994,635
Interest, &o.............
313,343
298,009
270,627
188,967
102,121
Miscellaneous..........
65,966
202,226
121,206
Total......................
Disbursements—
Rentals, lncl. int. on
bds. of leased lines.
Int. on 111. C. debt...
Div’dsonlll. C.stk. Ac
leased line certs ...
Taxes.......... ..............
Construction aco’ ts.
Add’t’l equip, acc’t..
Miscellaneous..........
7,129,707
6,372,494
6,331,228
6,404,254
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
6,395,661
6,331,178
Balance, surplus....
156,910
137,928
50
8,593,
—(V. 43, p. 190, 245, 607, 671 ; V. 44, p. 118,149, 275, 291, 3 0 7 , 3 1 0
343, 494, 526. 539, 653, 808 ; V. 45, p. 142, 509.)
I llin o is Sc St. L o u is.—Belleville to East St. Louis, 111., 15 miles
branches to coal mines, 4 miles ; total, 19 miles. Leases Venice & Caron.
RR., 6 miles, and guarantees the bonds. Capital stock of 111. & 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, $ 18,667 ; surplus
over all interest, $33,751. Jos. W. Branch, President, St. Louis.
In d ia n a B lo o m in g to n Sc W e ste rn .—Owns from Indianapolis,
Ind., to Pekin, 111., 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. & 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 Dayton) is leased to Cin
cinnati & Springfield. In April, 1885, the lease of the Indianapolis
Decatur & Springfield road was given up. The former Indianapolis
Bloomington & Western Company defaulted Oct. 1,1874, and the road
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 & Clevelard road than had been expected; but the U. S. Circuit Court sustained
the decision and ordered the rental to be naid, and in 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
w;as delayed by legal formalities till January, 1888.
For the year ending June 30,1886, seeieport 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, 2 1 6 , 309, 398,458.515, 5 4 6 ,
579, 634; V. 44, p. 90,184, 211, 434; V. 45, p. 369, 401, 672.)
In d ia n a I llin o is Sc I o w a .—Completed and in operation from
Streator, 111., to Knox, Ind., 120 miles. Stock, $3,598,000. In year
ending June 30, 1887, gross earnings were $188,704; net, $*2,893;
surplus over charges and improvements, $1,052. Gross in 1885 6,
$123,089 ; net, $22,568. F. M. Drake, President, Centreville, Iowa.
In d ia n a p o lis Sc St. L o u is.—Owns from Indianapolis to Terre
Haute, Ind., 72 miles ; leased line, St. L. Al. Ac 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 by
the Pennsylvania and Cleveland Columbus Cin. Ac Ind. companies,
who jointly owned the stock of $600,000. Interest had not beer
paid on the second mortgage and equipment bonds since July, 1878.
and on July 28,1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for Clev. Col. Cin. Ac Ind. Co. and »
new company organized September, 1882, with J. H. Devereux as
President. A new lease was made of the St. Louis Alton & Terre Haute
by which this company and the Cleveland Columbus Cincinnati & In
dianapolis are jointly liable for the rent of $450,000 per year as a mini
mum. Of the first mortgage bonds series “ A” are J. Ac J.; series “ B, ’
M. & S.; series “ C,” M. & N.; and the C. C. C. Ac 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 in 1886, $324,999; deficit in 1885, $560,
951. The road is only incidentally of advantage to its owners as a
route to St. Louis.
Operations and earnings for five years past were :
J. & J. N. Y.. ijjorbin Bank’g Co Jan. 1, 1900
A. Ac O. Last cWp.paid Apr.,’86 April 1, 1909
April 1, 1919
July 1, 1921
A. & O. Last coup.paid Apr.,’86 April 1, 1909
J. & D. Last paid June, ’86
June 1, 1921
F. & A.
1903
M. & N
New York Agency.
Nov. 15,1887
M. & N.
do
do
Nov. 15,1903
Various N. Y., Union Trust Co. July 1, 1919
M. & N. N. Y., U. S. Trust Co. Nov. 1, 1912
F. Ac A. N. Y., Farm. L. & T. Co Feb. 1, 1908
M. & N.
do
do
May 1, 1900
A. & O. N. Y., 1st Nat. Bank. July 1, 1906
Q —M.
Boston, at Office.
Sept. 1 ,1 8 8 7
A. & O. N. Y., Nat. Park Bank. Oct. 1. 1917
J. & D. N.Y., Hanover Nat. Bk. Deo., 1906
J. & J.
do
do
Jan. 1, 1907
J. & J. N. Y., Am. Ex. Nat. Bk. July 1, 1910
J. & J.
do
do
July 1, 1912
J. & J. N. Y. Mercan. Trust Co. Jan. 1,1914
J. & J. N. Y., N. Y. L. E. & W. RR. 1889 Ac 1927
J. & J.
do
do
Jan. 1, 1889
Q.—F. N. Y., Farm. L. & T. Co. May, 1881
A. & 0.
do
do
Oct. 1, 1906
J. & J.
do
do
July 1, 1910
J. & J.
Jan. 1, 1903
J. & J. N. Y., Farm. L. & T. Co. July 10,1907
J. Ac J. Phila., 233 So. 4th St July 1, 1907
A. Ac O.
do
do
A p r ili, 1900
J. & J. 1st coup, due Jan., ’89 Jan. 1, 1936
A. & O. Office, l9 5 Broadway. A p r ili, 1911
Passenge Freight (ton)
Gross
Net
Miles. Mileage.
Mileage.
Earnings. Earnings.
265 21,008,318 202,985,772 $2,086,776 df. 111,608
.
265 20,963,061 196,667,532
2,131,621
172,419
.
265 22,494.880 207,672,278
1,921,726 ’ 189,904
.
265 20,596,678 216,121,867
1,855,903
249,249
.
265 21,017,157 177,844,516
1,876,495
444,513
In d ia n a p o lis Sc V in cen n es. -Owns from Indianapolis, Ind.,
to Vincennes, Ind., 117 miles; branch, Bushrod to- Dugger, 12 miles;
total, 129 miles. The Penn. Co. owns a controlling interest in the stock
and operates the road, advancing the deficiency to pay interest on the
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
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
debt, $206,000.
In d ia n ap olis Sc W a b a s h .—Owns from Decatur, Ql., to Indian
apolis, Ind.. 153 miles. This company is successor to the Indianapolis
Decatur & Springfield RR., sold in foreclosure May 25,1887. Thefore
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 $4,240,000;.
- ( V . 43, p. 718; V. 44, p. 184, 211, 362, 632; V. 45, p. 239; 272.)
I o w a F a lls Sc Sioux City—(See Map o f Illinois Central).—Owns
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was ODened
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 Illinoia
Central had an option of continuing the lease after 1887 at same rental,
but acquired the property by purchase of the stock, and the Iowa
Falls Ac Sioux City distributed to the stockholders, assets amounting to
$1,759,500. For the eleven months ending Feb. 28, 1887, the total
rental was $213,998; receipts from sales of lands, $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. 607;. V. 44, p, 439.)’
Ith a c a A u b u rn Sc W e ste rn .—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, 1§83, 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 first mortgage bonds. In Nov., 1886, leased to Lehigh Valley
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
terms of the lease.
J a ck so n ville Southeastern.—Owns from Jacksonville to Centralia, ill., 112 miles. Tbis 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 by the bondholders under this name. Stock
$1,000,000. In year ending June 30, 1885 gross earnings were $158r703; 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. 8. Hook, Presid’t, Jacksonville, 111.
J ack son ville T a m p a Sc K e y W e s t.—(See map)—Line of road
Jacksonville, Fla., to Sanlord, 126 m.; Enterprise branch, 4*2 m. Deland
branch, 4m. Leased At. Coast St. Johns * I. R., Enterprise to Titus
ville, 37 m.; operates Jaoksonv. St. Aug. & Halifax, 37 m.; Sanford <fc
Lake Eustis RR., Sanford to Tavares, 29m.; total operated, 237% 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 lull 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,
13.)«? miles, were $422.333 ; net, $124,414. The land grant is about
1,500,000 acres. The bonds may 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.)
Jefferson.—Owns from Susquehanna Depot, Pa., to Carbondale, Pa.,
37 miles; branch, Hawley. Pa., to Honesdale, Pa., 8 miles; total, 45
miles. Leased in perpetuity to the Erie Railway for $140,000 per
annum, and now operated by the N. Y. Lake Erie & West. Capital
stock, $2,096,050. Samuel Hines, President, Scranton, Pa.
Jefferson ville M a d iso n Sc In d ia n a p o lis.—(See Map o f Pennsylvania RRJOwns from Jeffersonville, Ind., to Indianapolis, Ind., 108
miles; branches—Madison, Ind., to Columbus, Ind., 45 miles; Colum
bus, Ind., to SheibyvUle, Ind., 24 miles; Jeffersonville, Ind., to New
Albany, Ind., 6 miles; Shelby & 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 the J. M. & I.
Co. The Pennsylvania Company owns $1,981,000 of the stock. Divi
dends were at the rate of 7 per cent per annum till May, 1880. Earn
ings for two years past were as follows: 1886, gross earnings, $1,319,244; net, $357,775. 1885, gross earnings $1,217,088; net, $291,166.
Jersey City Sc B erge n .—Owns from Jersey City to Bergen Point,
N. J., 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,
Years.
1882...
18 8 3..
1884..
1885..
1886..
N o v e m b e r , 1887.J
RAILROAD
STOCKS
AND
BONDS.
59
60
IN V E T O E S ’
SUPPLEMENT.
[ Y o l . XLV.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
________________ DESCRIPTION.________________
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par
For explanation of column headings, &c., see notes of
of
Rate per When Where Payable, and bj Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Kansas City Belt—Istm ort., coup, (for $2,500,000)
10 1886 $1,000 $ 1,000,000
6
J. & J.
Boston.
July 1, 1916
1,000
Kansas City Clinton A Spring.1st M., gold, g u a r... 174 1885
3,192,000
5 g. A. & O. Boston, Merch’s Nat. Bk. Oct. ', 1925
500
45 1877
Pleasant Hill & De Soto, 1st mort., gold...............
58,000
7 g. A. & O.
do
do
Oct. 1, 1907
....
Kansas City Fori Scott A Gulf—Stock, common....... 389
....
4,648,000
2
F. & A.
Boston.
Aug. 15, 1887
....
Stock, preferred............... ........................................ 389
....
2,750,000
4
F. * A.
do
Aug. 15, 1887
1st M., land grant, sink, fund, coup, may he reg. 160 1879 100 &o
2,247,000
7
3. & D. Bost., Nat. Webster Bk. June 1, 1908
Mort. on branches, guar, (drawn at 110, flat).. c * 202 ’80-’84 1,000
2,795,000
7
M. & S.
do
do
Sept. 1, 1910
1,000
do
Kan & Mo. R R ....................................
26 1882
390,000
5
F. & A.
do
do
Aug. 1, 1922
....
Equipment bonds ($70,000 retired annually)....... . . . . 1883
490,000
6
J. & D.
do
do
Deo. 1, 1893
....
Ten-year coupon notes.............................................
«. .
....
320,000
6
1895
1,000
Kans. O. Mem. A Birm.—1st M. (drawn at 110)..c* 250 1887
5,700,000
5
M. & S.
Boston.
Mch. 1, 1927
1,000
Kan. O. Spring. A Mem.—1st M (drawn at 110).c * 282 1883
6,971,000
6
M. & N. Boston. Nat. Union Bk. May 1, 1923
....
Plain bonds (red’ble at will at 105 and int.), guar . . . . 1884
500,000
6
M. & N.
May 1, 1894
....
Memphis equipment bonds iguar.by K. C. S.& M.) . . . . 1885
423,000
6
J. & D.
Dec. 1, 1897
1,000
Current River RR., 1st m ort.,gu ar................ .
1887
81
1,620,000
5
A. & O.
Boston.
1927
1,000
Kentucky Central—Covington & lex.,m ort.,extend
80 1855
219,000 5 * 6
J. & D. Kentucky Central RR.
June, 1*90
Maysville Division mortgage............... ..................
....
50
....
400,000
7
J. & J N. Y., Morton. B. & Co.
1906
1,000
New mortgage, gold..............................................e * 220 1887
6,600.000
4 g. J. & J.
New York City.
July 1, 1987
Keokuk ADes Moines—1st M., mt. guar. C. R. I. & P. 162 1878 100 &c.
2,750,00»»
5
A. & O. N.Y., 13 William street. Oct. 1. 1923
....
Keokuk A Western—Note secured by mortgage........ 143
....
250.000
6
1,000
Kings County Elevated—1st mortgage, gold........o* . . . . 1885
1,350,000
1325
5 g- J. & J. N. Y., Am. Ex. Nat. Bk.
1,000
Kingston A Pembroke—1st mort...............................
134 1882
572,000
6
J. & J. N.Y.,R. P. Flower & Co.
1912
....
Lackawanna A Pittsburg—Mortg. (for $2,000,000) . . . .
....
1,642,000
6
A. & O. Last paid April, 1884 April 1, 1923
Income bonds.............................................................. . . . .
....
1883
800,000
6
April 1, 1923
1,000
Allegany Cent., Istm ort., gold, payable at 1 0 5 ...
62 1881
281,000
6 g- J. & J. Last paid July, 1884 Jan. 1, 1922
....
do
2d mortgage, gold........................
62 1882
59,000
S ep t, 1))22
6 g. M. & 8. Last paid Oct., 1884
do
Income mort., not cumulative.
. . . . 1882 500 &c.
36,000
6
Jan’ary
Jan. 1, 1912
100 11,840.000
Lake Erie A Western—Common stock...................
592
100 11,840,000
Preferred stock, 6 per cent (not cumulative)........
592
1,000
1st mortgage, gold ($10,000 per mile)................
592 1887
5,920,000
5 g. J. & J. N. Y., Central Trust Co. Jan. 1, 1937
100 49,198,400
Lake Shore A Michigan Southern—Stock................... 1,340
....
2
F. & A. N.Y.,Grand Cent.Offlce. Aug. 15, 1887
100
Guaranteed 10 per cent stock...............................
—
533,500
5
F. & A.
do
do
Aug. 1. 1887
$102,384. Stock, $500,000. Dividends 7 per cent in 1886. C. B. Thurs
ton, President, Jersey City.
J o lie t Sc N orthern In d ia n a .—Owns from Joliet, 111., 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 3 per cent bonds. Stock ($300,000) carries dividends of 8
per cent per annum.
J u n ctio n (P h ila d e lp h ia ).—Owns from Belmont, Pa., to Gray’s
Ferry. Pa., about 4 miles It connects the Pennsylvania, the Phila
delphia & Reading and the Philadelphia Wilmington & Baltimore rail
roads, coming mto Philadelphia. Capital stock, $250,000. Net earn
ings in 1882-3, $123,919; in 1S83-4, $130,731; in 1884-5, $95,865; in
1885-6, $131,212. Large dividends are paid according to receipts each
year. In 1884 paid 40 per cent, in 1885 20 per cent, in 1886 30 per
cent, and Apr !, 1887, 25 per cent.
K a n a w h a Sc O h io.—Coming, 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 toretire ihe loan on the Point Pleasant Bridge, and $111,« 00 to
retire the Ohio Cent. Mineral Div. bonds. Common stock author
ized $2,200,000; 1st pref., $6,<'00,000; 2d pref., $4,000,000. Office, 2
Wall st., New York. Nelson Robinson, Vice-President. (V. 43, p. 132;
V. 45, p.135.)
K a n sa s C en tral.—Owns from Chic. R. I. & Pac. June, to Miltonvale, 166 uuiles; leased Leavenworth to Chic. R. I. & Par. June , 1 mile.
Sold under foreclosure of first mortgage April 14, 1879. Reorganized
April, 1879; on April 1, 1887, d< fault was made. Gross earnings in
1885, $268,059; def. $46,575; def. under interest, &c., $127,455. Gr ss
earnings in 1886. $217,673; def., $76,04?; def. under inteiest, &c ,
$159,404. 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.)
K a n s a s City H elt.—From Argentine to Washington Park, 10
mile)*. Stock is $. OO.Oj O. Owned one-lialf by Atchison Topeka & Santa
Fe, and one-quarter each by Kans. City Ft. Scott & Gulf and Chic, Mil.
& St. Paul. Double-tracked and used for a terminal road at Kans. City.
K a n sa s City C linton Sc S p r in g fie ld .—Owns from Cedar Ju nc.
Kan., to Ash 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. & G. RR., which company guarantees the bonds.
In Jan., 1885, the Pleasant Hill & De Soto road, 4b miles', was purchased
from Atch. Top. & S. Fe RR., the K. C. C. & S. Co. assuming the bonds.
Stock authorized, $2,500,000; issued. $1,775,4 >0, of which a maioritv
is owned by the Kansas City Fort Scott & Gulf RR.
.K a n s a s City F o rt Scott Sc G u lf.—Mileage is as follows:
Main line—Kansas C ity to Baxter Springs, 160 miles; branches—Weir
City to Cherry\ alle, 50 miles; Arcadia to Coal Mines, 2 miles; Baxter
Springs to Webb City, 22 miles; Rich Hill Junction 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 * Gulf, which was foreclosed Feb. 4,1879
In Nov., 1887, consolidation with the K. C. Springfield & Memphis
road was proposed as per circular in V. 45, p. 642.
The Branch line 7 per cent bonds due Sept. 1, 1910, are on the following leased lines: Fort Scott Southeastern & Memphis, 103 miles at
$lo,000 per m ile; Rich Hill Road, 28 miles, at $13,435 per mile ; Short
Creek & Joplin Road, 22 miles, at $14,209 per mile. These bonds are
guaranteed, principal and interest, and have a sinking fund of 1 per
cent of whole issue annu lly, with which bonds are bought at 110 or, if
not offered, are drawn at 105; also the bonds of Memphis K ansas*
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 & Springfield bonds are guaranteed by Kans.
City Fort S c o tt* Gulf. (See V. 397 p. 234.)
J
In 1886 the K. C. C. & S. failed to earn its interest by $52,000, which
was advanced by this company, but the gross earnings of the Kans. C.
I t . S. & G. were increased $89,354 by interchange of business with the
other road. The gross earnings from business interchanged with K C
S. & W. was $743,l s 2.
The annual report for 1886 was in V. 44, p. 432, showing the following
earnings and income account for four years:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
Receipts—
$
$
$
$
Total gross earns.
2,016,212 2,4227443 2,546,525 2,539,338
Net earnings........
837,668 1,014,750
988,218 1,063,811
Interest, A c.........
............
27,395
2,510
Total income............
Disbursements—
Interest on bonds.......
LeasedUnes interest..
K. C. S. & M. proport’n.
837,668
$
173,203
184,003
25,099
1,042,145
$
166,081
204,123
76,212
Ft. Scott equip, bonds.
Dividends.......... . ........
Rate paid on com.......
Do
p ref....
Sinking fund...............
Miscellaneous.............
1883.
$
359,364
3
8
24,360
1,421
1884.
$
102,661
475,576
5
8
21,176
384
1885.
$
116.951
336,156
21«
8
22,300
3,805
1886.
$
103,250
405,880
4
8
22,300
Total disbursements.
767,450
1,046,213
964,461 1,034,330
Balance..........................sur. 70,218 def. 4,068 sur.23,707 sur.31,991
—(V. 44, p. 184, 4 3 2 ; V. 45, p. 613, 642 )
K a n sa s City M em ph is ^ B i r m i n g h a m .—Owns from Memphis
to Birmingham, Ala., 251 miles; completed in October, 1887. Three cor
porations in three States were consolidated under this name. B >nds for
$25,600 per mile are issued. The New England Trust Comoimy is
rustee under the mortgage; abstract V. 45, p. 575. The K. C.
Springfield & Memphis owns half the stock an 1 gives a traffic guaran
tee of 10 per cent of gross earnings derived from business to ana from
the new road, to be applied first to the payment of any deficiency in the
interest, and second to reti e the bonds. The bonds may be drawn or
bought at 110. (V. 43, p. 217; V. 44, p. 275; V. 45, p. 472, 575.)
K a n sa s City Springfield. Sc M e m p h is.—This organization em
braces two corporations under the laws of Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis. Tenn., 282 miles.
Current River RR., from Willow Springs, Mo., to Cairo, 81 miles. In
Nov., 1887, consolidation proposed with K C. Ft. Scott & G. (See V. 45,
p. 643.) The K. C. F. Scott & G. appropriates 15 per cent of gross earn
ings on business to or from the new road to pay—first, any 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 were issued as pe r circular in V. 44, r. 246. The
report for 1886. in V. 44, p. 585, showed gross earnings of $l,5c9,708,
and net, $480,709; also, $131,475 traffic guarantee received. (V. 44, p.
246, 5 8 5 ; V. 45, p 574, 613, 642.)
K en tu c k y Central H a llw a y .—Owns from Covington, Kv., to
Livingston Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris,
Ky., to Maysville, Ky., 49 miles; Richmond to Stanford, 34 m iles; 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 mortgage (Metro
politan Trust Company of New York, trustee). V. 45, p. 372.
The Company leased of the Louisv. & 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 stock is $6,600,000.
From January 1 to Sept. 30, in 1887 (9 months) gross earnings were
$779,696. againstX$672,790 in 1886; net, $329,629, against $2 40,966.
INCOME ACCOUNT.
1884.
1885.
1886.
Total gross earnings................ . . . . $922,107
$847,071
$920,698
Net receipts.............................. ....... $318,487
$309,621
$332,325
Disbursements—
Rentals paid............................. .......
$62,074
$61,210
$55,045
interest on debt........................ .......
256,880
255,250
Taxes and miscellaneous.. . . . . .......
50^402
69,853
33,529
Total disbursements.......... .......
$369,356
$386,313
$8 «.574
Balance...................................... ....... def. 50,869 def. 76,692 surf.43,751
I Interest not deducted.
—(V. 43, p .6 3 4 ,746,774; V .44,p. 211,369, 551, 653; V. 45, p. 112, 372,
373.)
K e o k u k & Des M o in e s.—Owns from Keokuk, la., to Des 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 & 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 present bonds. The stock is $1,524,600 of 8
per ceufc 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 theinterest charge paid by lessee.
K e o k u k Sc W e ste rn —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 & 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
given, payable at will. In Sept., 1887, the Centerville Moravia &
Albia road was leased. From Dec. 1,1886. (commencement of opera
tions under reorganization), to Sept. 30,1887 (10 mos.), gross earnings
were $267,304; net earnings, $85,707. F. T. Hughes, Pres’ t, Keokuk,
988,218 1,066,321 la.; G. H. Candee, 52 William Street, N. Y., Vice-Pres’t. (V. 44, p. 808 ;
V. 45, p. 166, 304.)
$
$
162,546
17V 238
K in g s C ounty E levated.—lin e of road on Fulton Street,-Brook
213,078
214,187 lyn, to city limit-1, about 6 miles, o f which 2 miles are built and remainder
109,625
111,477 in progress. After litigation, and a decision by Court of Appeals in its
N ovem ber,
1887.J
61
RAILROAD STOCKS AND BONDS,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date
Amount Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, Ac., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds
on first page of tables.
Lake Shore <£ M!ch. Southern—( Continued) —
Consol. 1st mort., (sink, fund, 1 per cent) coupon.
do
do
do
registered
do
do
do
............... .
Consol. 2d mort., do. (for $25,000,000) coup.& reg.
Lake Shore dividend bonds...............................- - - 3d mortgage (C., P. & A. RR.) registered bonds..
Buffalo & Erie, mortgage bonds.............................
Det. Monroe A Tol., 1st mort., coup., guar............
Kalamazoo & White Pigeon, 1st mortgage..........
Kalamazoo Allegan & Gr. Rapids, 1st m ortgage...
Kal. Allegan A Gr. Rapids, stock, 6 p. c. guar---Jamestown A Franklin, 1st mortgage................
Jamestown A Franklin, 2d mortgage....................
Mahoning Coal, pref. stock, g u a r .........................
do
1st mort. bonds guar.. .............
Lawrence—Stock.......................................... ...............
1st mortgage.............................................. .
Lehigh dt Hudson River—1st mortgage, gold............
Warwick Valley, 1st m ortgage...............................
do
2d mortgage................................
Lehigh dl Lackawanna—1st & 2d mortgages........ .
Lehigh Talley—Stock ($106,300 is pref.)..................
1st mortgage, coupon and registered.....................
2d mortgage, registered........................ .........-........
Consol, mort., gold, $ A £(s. fd. 2 p.c. y ’ly) cp.®.
Easton & Amboy, 1st mort., guar.(for $6,00C,000)
Delano Land Company bonds, endorsed —
Little M iam i -Stock, common............................
Street con. 1st M. bds (jointly with Cin.& Ind.RR.)
Renewal mortgage................................... :*\-*:v-*
Little Rock dt Fort Smith—1st M., landgr. sink. fd ...
Little Rock dt Memphis—First mortgage, gold.......c
864
864
864
864
258
95
88
62
37
58
'K l
51
43
43
22
17
41
22
22
25
346
101
101
232
60
193
84
165
133
1870 $1000 l $15,091,000
1870 1,000 5
5
849.000
1870
1,(00
7
1,000 24.692.000
1873
7
1.356.000
1,000
1869
7
920.000
1867
1,000
7
2.784.000
1868 500 &c.
7
924.000
1,000
1876
400.000
7
1,000
1869
8
840.000
1,000
1868
3
610.000
7
298.000
1863
1.ÖÖ0
7
500.000
1,000
1869
2ifl
372,610
50
5
1.500.000
1894
1.000
2
500.000
50
7
314.000
1,000
1865
6
800.000
1,000
1881
6
145.000
1879 500 Ac.
6
240.000
1.000
1881
7
600.000
1,000
1877
1H
50 33,112,800
5.000.
000 6
1,000
1868
6. 000.
000 7
1,000
1870
6
14.257.000
1,000
1873
5
4.500.000
1,000
1880
7
1.395.000
1,000
1872
.
2
4,837,300
50
6
250,000
1,000
1864
5
1.500.000
1,000
1882
7
2,314,500
1875 500 Ac.
3.250.000
1,000
1887
5 g-
favor, the work went on, and bonds were offered for sale by Vermilye
A Co. in Julv, 1887. St <k paid in, $1,000,000. President, Jas. Jourdan; Treasurer, Jas. H. Frothingham. (V. 44, p. 421; V. 45, p. 25, 600.)
K i n g s t o n dc F e m b r o b e .—Owns from Kingston, Ontario, Canada,
to Renfrew on the Canadian Pacific RR., 101 miles; branches, 30 miles;
total, 134 miles Bonds are redeemable on notice at 105 Offered in
New York, in 1887 by R P. Flower A Co. Stook, $4,-^00,000; par $50.
Gross earnings, 1^86, $148,563; net, $48,348; fixed charges, $34,320;
surplus, *14,028. See full statement in V. 44, p. 402. (V. 44, p. 392,
401, 4 02.)
L a ck a w a n n a dc P ittsb u rg .—A consolidation in April, 1883, or
the Allegany Central and the Lackawanna A Pittsburg. Road operated
from Lackawanna Junction, New York, to Perkinsville. 41 m iles;
Swain’s to Nunda, 12 m., and Olean to Angelica, 39 m.—total, 92 miles.
The last-named line is 3 ft. gauge and the others standard gauge. Stock
$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.,
1886, was authorized to borrow $5< ,000. Earnings in 1885-6, $50,943;
deficit, $17,859. Geo. D. Chapman, Pres’t and Receiver, New York.
L a b e E rie & W e ste rn R a ilro a d .—(-See Map'—Owns from San
dusky, O.. to Peoria. 111., and brunch to Minster, 430 miles, and from
Indianapolis to Michigan City, 162 n iles; total, 5°2 miles. This is the
new company forned in 1887 after foreclooire (on Dec. 14,1886,) of
the Lake Eiie A Western railway, which had been made un by a con
solidation, Dec. 12,1879, of the Lafayette Bloomington A Munoie and
the Lake Erie A Western. This company in March, 1887, purchased the
Indianapolis Peru A ('hie. road, 162 miles (formerly part of Wabash).
The capitalization is at the rate of $10,0 0 per mi e ol bonds, and $20,000 in common and $20,000 in preferred stock per mile.
From Feb. 1 to Aug. 31 (7 mos.) In 1887, gross earnings were $1,153,750, against $986,342 in 1886; net, $468,780, against +234,(53.
C. R. Cummings, Chicago, Pie-’t; C. S. Brice, N. Y., Vice-Pres’t.
—(V. 43, p. 12, 49, 66,132, 274, 411. 607, 634, 671, 746; V. 44, p. 22,
90,118, 2 H , 401, 527,553, 808 ; V. 45, p. 572.)
L a b e Sbore dc M ich ig a n Sou th ern .—Link op Road —Buf
falo, N. Y., to Chicago, 111., 540 miles; branches owned, 324 miles. Other
lines owned as follow s; Detroit Mon. A Toledo, 62 miles; Kalamazoo A
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 160
miles. Roans leased are as follows: Kalamazoo Allegan A Gr. Rapids,
58 miles; Jamestown A Franklin, 51 miles; Mahoning Coal R., 43 miles:
Detroit Hills. A Southwest., 65 miles; Fort Wayne A Jackson, 98 miles;
total, 315 miles. Total road owned, leased and operated, 1,340 miles.
Organization, Ac .—This company was a consolidation of the Lake
Shore RR. and Michigan Southern A North. Indiana RR. May 27, 1869,
and the Buffalo A Erie RR. August 16,1869. The consolidated line em
braces the former roads of the Cleveland A Toledo and the Cleveland
Painesville A Ashtabula railroads. The stocks of some of the railroads
which entered into the consolidation forming the Lake Shore A Michigan
Southern road had been largely increased by stock distributions, and on
the lines between Buffalo and Toledo the capital of several of the
companies had been several times increased. The roads leased
at fixed r ntals are the Kal. Allegan A Grand Rapids, Jamestown
A Fianklin and Mahoning Coal. The Detroit Monroe A Tol.
Kalamazoo A White Pigeon and the Northern Cen'ral of Michigan, are
proprietary roads controlled by ownership of their sto» k. The Mahon
ing Coal RR. is leased and its stock and bonds guaranteed. The New
Yt rk Chicago A St. Louis road is controlled by ownership of stock. The
Chicago A Canada Southern is also operated by tbe Lake Shore A Michi
gan South.
8tocks and Bonds.—The guaranteed stock of $533,500 carries 10 per
cent dividends. The ordinary stock has paid the following dividends
since 1870, viz.: In 1871,8; in 1872,8; in 1873,4; in 1874, 3 ^ : in
1 875,2; in 1876. 3% ; in 1877, 2 ; in 1878, 4 ; in 1879, 6^ ; 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 1871,85*3® HOI*;
1872, 83*a®98i4; 1873, 5 7 H a > 9 7 % ; 1874, 6778®843s; 1875, 51*4®
80*2; 1876, 48^ ® 6 8 »s; 1877. 45®733g; ¡878, 578®715«: 1879, 67®
108; 1880, 95®13938; 1881, U 2B s® l35% ; 1882, 9 8 ®12<D8: in 1883.
92%®11478; in 1884, 59*2®I04:%; in 1 85. 50%®897s; in 18s6, 76*8
®100% in 1887 to Nov. 18, in lusive, $9®9
The first consolidated mortgage bonds are redeemed each year b.\
$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 $4,00 j ,0 jo Dec. 31, 1886.
Operations, F inances. Ac.—The annual reports of this company are
models of clearness in all the statistical matter. The roa 1 is greatly
dependent on through traffic, or traffic from competitive points, and it>
business is injured by any cutting of rates.
In 1882, 140,500 shares preferred stock and 124,800 shares of com
mon stock of the New York Chicago A St. Louis Railroad (a con
trolling interest) were purchased and $6,500,000 of Lake 8. A Mich
S. 2d consol, mortgage bonds issued to pay for it, making an interest
charge of $456,890 per annum.
In 1886 the company sold $84'\000 first consolidated mortgage
bonds to redeem old bonds falling due, and this ot of the consols bear
only 5 per cent interest and may be redeemed by instalments on Oct.
1 each year till 1890.
For tne quarter and six months <nding June 30,1887, the report was
as follow s:
J.AJ.
Q .-J .
J. A D. Coupons are paid by
Treasur’r at Gr’nd
A. A O.
A. A O.
Central Depot, N.
Y., and registered
A. & O.
interest by Union
F. A A.
Trust Company.
J. A J.
J. A J.
A. & O.
J. & J.
J. A D.
N. Y. Union Tr. Co.
J. & J.
do
do
J. A J.
Pittsburg Office.
Q .-J .
F. & A. N. Y., Winslow, L. A Co.
J. A J. N. Y. Nat. Ex Bank,
A. A O.
do
do
do
do
A. A O.
Philadelphia.
J. & D.
Philadelphia, Office.
Q.—J.
J. A D. Reg. at office; cp.B’kN.A
M. A S. Philadelphia, Office,
do
do
J. & D.
do
do
M. A N.
do
do
J. A J.
Cincinnati.
Q .-M .
J. A J. d n n ., Lafayette Bank.
M. A N. N. Y., Bank of America.
I. A J. N.Y., Mercantile Co.
New York.
M. A S.
July 1, 1900
July 1, 1900
1887 to 1890
Dec. 1, 1903
April 1, 1899
Oct. 1, 1892
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1888
Oct. 1, 1867"
Var.to J’ly, ’97
June 1, 1894
July 1, 1887
July 1. 1934
Oct. 2. 1887
Aug., 1895
July 1, 1911
1899
1911
Deo. 1.1907
Oct. 15.1887
June, 1898
Sept., 1910
1898 A 1923
1920
Jan., 1892
Sept. 10,1887
1894
Nov. 2, 1912
Jan. 1, 1905
Sept. 1,1937
Quar. ended June 30.—» -6 mos. ended June 30.—,
1886.
1887.
1886.
1887.
$4,443,860 $6 9 1,734 $3,642.417'
Gross earnings.......$3,426,530
4,227,985
4,827,718
Oper. exp. A taxes. 2,144,605
2,419,431
$1,281,925
45,904
$2,024,429
45,210
$2,703,749
45,904
$3,814,699
63,774
Total incom e... .. $1,327,829
Charges .............. .. 1,094,253
$2,069.639
1.097,455
$2,749,653
*2,177,579
$3,878,473
2,122,455
NetearniDgs...
Other income___
$572,074 $1,756,018
$972,184
Surplus........... .. $233,576
The annual report for 1886 was published in V. 44, p. 583, containing
the tables below, showing the earnings and income account for a series
of years:
O P E R A T IO N S A N D F IS C A L R E S U L TS .
Miles operated.........
1883.
1,340
1884.
1,340
1885.
1,340
1886.
1,340
PassVer m d W e . . . . 215,715,155 190,503,852 176,830,303 191,593,135
Rate p. pass. p. mile 2*196 cts.
2*170 cts.
2*058 cts.
2*('98 cts.Fr’ght (t’ns) mileage * 1,639,512 *1,410,545 *1,602,567 *1,592,044
•
•
*
®
----------¡g)
0*652
ots.
0*553
cts.
0*639
cts.
Av. rate p. ton p. m. 0*728 cts.
Earnings—
$
*
4,020,550
3,639,375
Passenger....................
4,736,088 4,133,729
Freight....................... 12,480,094 9,358,817 . 9,031,417 10,329,625
1,509,2801,462,713
Mail, exp., rents, Ao.
1,297,474
1,351,038
Total gross earnings 18,513,656 14,843,584 14,133,505 15,859,455
Operating Expenses—
$
2,044,044
1,614,777
1,532,252
Mamt’ce o f way, Ac.
2,095,492
1,340,291
1,347,379
1,111,329
Maint. of equipment.
990,907
5,192,943
5,277,444
5,380,166
Transport’nexp’nses
6,592,742
485,946
518,668
521,543
530,236
T axes............ .
668,398529,269
588,231
Miscellaneous t........
792,476
Total................... 11,001,853
Net earnings............
7,511,803
P.c.of op.ex.to ear’gs
59*43
9,133,521
5,710,063
61*53
9,287,537
4,845,968
65*71
9,731,622
6,127,833
61*36
* Three ciphers omitted.
f Includes damage and loss ot freight and baggage, personal injuries,
law expenses, rents payable and hire of oars.
IN C O M E A C C O U N T .
Receipts—
Net earnings............
Interest, (Livid’s, Ao.
1883.
$
7,511,803
158,540
1884.
$
5,710,063
1885.
$
4,845,968
1886.
$
6,127,833
110,752
-
Total in com e....
Disbursements—
Rentals p a id ............
Interest on debt.......
Dividends.................
Sinking fund.............
7,670,343
5,710,063
4,845,968
6,238,585
471,876
3,132,120
53,350
446,450
3,220,870
53,350
439,168
3,374,938
53,350
250,000
443,900
3,326,48a
53,350
250,000
Total disbursem’ts
Surplus for div’d ___
Dividends.................
Rate of dividends...
3,657,346
4,012,997
3,957,320
(8)
3,720,670
1,989,393
2,473,325
(5)
4,117,456
728,512
4,073,730
2,164,855
989,330
(2)
Balance.................... sur 55J577 def. 483,932 sur. 728,512 sr*l ,175,525
* From this surplus, $292,522 was applied to reduction of pay-rolls,
vouchers, Ac., at end of 1885.
G E N E R A L B A L A N C E A T C LO S E O F E A C H F IS C A L T E A R .
1883.
A s s e t s __
$
1884.
$
1885.
$
1886.
$
Railr’d, build’gs, Ac. 70,048,600 70,048,600 70,048,600 70,048,600
■
B’ om ’ nnn 17,300,000
ivQnnnnn i7
»n n n n n 17.300.000
17,300.000
17,300,000
Equipment................
17,300,000
365,780
365,780
354,167
R’l est. A office prop.
365,780
71+,000
715,000
715,000
Ch.ACan.So.bds.,Ac.
715,000
Stocks owned, cost..
9,414,477 12,012,839 12,195,068 12,113,700
933,080
645,400
674,400Bonds owned, c o s t..
1,554.030
1,454,942 1,461,147
1,525,859
Advances..................
1,421,342
966,311
673,474
596,430
Materials, fuel, A c ...
1,221,178
218,682
235,795
2,559,928
Cash on hand............
317,320
1,249,858
1,588,590
1,216,840
Uncollected earnings
582,545
Total assets........ 102,940,272 105,265,092 105,228,854 107,104,924
TVj/, />," ii’.g_
*
$
$
s w fc
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
O ^ er lia b ilities.....
2,’506,589 2,975,161
1,131,670
839,148
Profit and loss. . . . . .
4,951,678 4,547,256
b,604,510 8,033,771
Total liabilities.. 102,940,272 105,265,092105,228,854 107,104,924
- ( V . 43T p. 6, 23, 245, 634, 774; V. 44. p. 6, 22, 276, 401, 5 8 3 , 693,
714; V. 45, p .5 ,2 5 , 304.)
ITNTESTORS’
SUPPLEMENT.
©
»
<1
o
f
M
5
N ovember , 1887.j
KA1LROAD STOCKS AND BONDS.
63
Subscribers w ill confer a great favor by g iv in g Im m ed iate notice o f any error discovered In these T able«
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due,.
Miles Date Size, or
Amount
Rate
per
When
Where
Payable,
and
by
Stocks—Lsmt
of
Par Outstanding
For explanation of column headings, &c., see notes of
Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
170
Little Rock Miss. River <6 Texas—1st mortgage........
2d mortgage...............................................................
31
Little Schuytkid—Stock................................................
Long Island—S t o c k :.................................................. 341
1st mortgage, extension................. ..................... o*
95
1st mortgage, m a in ................. .......................... c *
2d mortgage................................'....................... . .c ? 156
Consol, mortgage, gold (for $5,000,000)............c * 164
10
New York & Rockaway, guar. int. only................
19
Smithtown & Port Jeflerson mortg., guar.............
3*9
Newtown & Flushing, guar, principal and int—
Equipment certificates............................................
Long Island Oily <t Flushing—1st M..... ............... c * 10%
10%
Income bonds (cumulative) ($350,000).............. c*
Consol, mortgage for $1,250,000, gold.............. o * 188
27
Los Angeles <t San Diego—IstM . (for $2,800,0001..
112
Louisiana Western—1st mortgage, g o ld .................
72
Louisv. Evansv. <t St. Louis.—1st mort. E. R. & E ...
1st mortgage, gold, for $2,000,000 (2d on 72 M.). 255
2d mort., gold, for $3,000,000,1st coup, due ’87.. 255
23
Hunt. Tell City & C. RR., 1st M., gold, guar— o *
Louisville ¿ Nashville—Stock..................................... 1,612
General mort., gold, coup, or reg. ($20,000,000). 840
Lebanon branch extension, Louisville lo a n ...:.. 110
Lebanon-Knoxville extension mort. ($1,500,000) 172
46
Cecilian Branch, 1st mortgage, sinking fund.. . . . .
Consolidated 1st m ortgage.................................... 392
Memphis & Ohio, 1st mort., sterling, guar............ 130
83
Memphis & Clarksville br.. 1st mort., sterling—
135
Mort. on Ev. Hen. & N., g o ld .................................
Collat. Trust, 3d M., gold, (payable at 110)............ 1,079
10-40 AdJ. M., gold, coup, or reg. (red’ble aft. ’94) 783
1st mortgage on New Orleans <fe Mobile R R ......... I 141
7
J. & J. Last paid Jan., 1882.
1876 $500«fee. $1,871,500
1,106,000
7
A. & O. Last paid April, 1882.
1,000
1881
31« J. & J. Philadelphia Office.
2,487,850
50
1
Q —F. N.Y.,Corbin Bank’g Co.
50 10,000,000
175,000
7
M. & N.
do
do
500
1860
1,121,500
7
M. & N.
500
do
do
1868
7
268,905
F. & A.
do
do
1878 100 &c.
3.430,000
1,000
do
do
1881
5 g■ Q.—J.
250,000
7
A. & O.
do
do
500
1871
600.000
7
M. & 8.
do
do
500
1871
7
150,000
M. & N.
do
do
500
1871
60.000
7
6
600,000
M.
&
N.
N.Y.,
Corbin
Bank’g
Co.
1,000
1881
6
312,000
Jan. 1
do
do
1,000
1881
5
g.
M.
&
N.
do
do
1,000
1887
(1)
556,000
6
J. & J. N. Y., Central Paoiflo.
1,000
1880
2,240,000
1,000
6 g. J. & J. N. Y., South Pao. RR.
1881
6
J. & J.
900,000
1,000
Boston.
1881
2,000,000
6 g. A. & O.
do
1,000
1886
3,000,000 2 to 6 g. A, & O.
do
1,000
1886
300,000
do
1,000
1887
6 g- A. & O.
3
F. & A. N.Y., 50 Exchange PI.
100 30,000,000
do
do
1,000 12,202 000
6 g. J. & D.
1880
A. & O.
333.000
6
do
do
1,000
1863
M. & 8.
do
do
Pledged.
6
1,000
1881
M. & S.
do
do
933,000
7
1,000
1877
A. & O.
do
do
7,070,000
7
1,000
1868
J.
&
D.
3,500,000
London,
Baring
Bros.
7
£200
1871
do
do
2,015,S60
£200
6 g. F. & A.
1872
J.
&
D.
2,360,000
N.
Y.,
50
Exchange
pi.
1,000
6 g.
1879
9.684,000
do
do
1,000
6 g. Q.—Mar
1882
M.
&
N.
5,000,000
do
do
1,000
6 g.
1884
5,000,000
do .
do
1.000
6 g. J. & J.
1880
L a w ren ce.—Owns from Lawrence Junction, Pa., to Youngstown, O.,
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total
operated, 22 miles. The Lawrence Railroad was leased June 27, 1869,
to Pittsburg Fort Wayne & Chicago ^RR. at 40 per cent on gross earnings,
with $45,000 per year guaranteed as a minimum. Lease has beentransferred to Pennsylvania Co., by which the road is now operated. Gross
earnings in 1885, $166,236; net, $74,123; rental from Penn. RR. and
interest received, $67,159; payments, $82,199. Gross in 1886, $210,991;
net, $78,007; rental and interest, $84,396, less to Pa. RR., $7,629.
L eh ig h Sc H u d s o n R iv e r .—This road was opened from Grey
cou nt, on Erie road, to Belvidere, N. J., 63 miles, August, 1882. Con
solidation April, 1882. of the Lehigh & Hudson River and the Warwick
Valley roads. In addition to above there are $65,000 Wayawanda 6 per
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
bondholders agreed to fund four coupons July, 1885, to Jan., 1887, in
clusive. In Dee., 1885, a traffic contract was made with Lehigh Coal &
Nav. Co. In 1885-86 gross earnings, $209,294; net, $81,993"; interest
on bonds, $84,674. In 1884-85 gross earnings $173,007. net, $65,012;
deficit under interest, &o., $20,162. Qrinnell Burt, Pres., Warwick, N. Y t
L eh ig h Sc L a c k a w a n n a .—Owns from Bethlehem, Pa., to Wind
Gap, Pa., 25 miles; thence, in connection with the Wind Gap & Dela
ware Railroad, to Bangor, Pa., 32 miles. It is operated by the 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 2d
mort. Capital stock, $370,500. Gross earnings in 1885, $62,076; net,
$12,723. In 1886, net, $13,860.
L eh ig h V a lle y .—Owns from Phillipsburg (Pa. Line), N. J., to
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenried,
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 & Sull. RR., Monroeton to Berwick,
24 miles; also owns the Easton & Amboy RR., Amboy, N. J., to Pennsyl
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 1871,1872,1873,
1874 and 1875,10 per cent paid; in 1876, 9; in 1877, 5 ^ ; in 1878,1879
and 1880, 4 ; in 1881, 5^; in 1882, 6 %; in 1883 and 1884, 8; in 1885, 6;
in 1886,4. Prices of the common stock in Philadelphia since 1877 were
as follows: In 1878, 32%®42i4; in 1879, 3 3 ^ @ 5 5 ; in 1880, 46@57%;
in 1881, 571a@64J4; in 1882. 58%@67%; in 1883, 63@73i4; In 1884,57
@717&; in’ 8 5 ,54^ 0.6114; in 1886,55%®62; in 1887toNov.l8,54»«®57%.
The fiscal year ends November 30. The last annual Teport was in the
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, w ere:
: /
1885-86.
1883-84.
1884-85.
Earnings—
$
$
$
5,669,236
Coal freight. «A ............... ............
6,079,542
6,295,282
2,106,469
Other fr^lghtli................................ 1,763,429
1,617,236
969,051
Passe.nger, mail, express, &c____
860,139
889,496
'Total gross earnings....................
operating expienses. . .............
8,948,207
5,246,073
8,556,917
4,888,998
8,744,756
5,293,816
Net earnings................................. $3,702,134 $3,667,919 $3,450,940
INCOME ACCOUNT.
1885-86.
1883-84.
1804-85.
$
Receipts—
$
3,450,940
Net earnings.................................... 3,702,134
3,667,919
651,046
Other receipts and interest..........
732,344
1,238,144
Total net income.....................
Disbursemen ts—
Interest on debt................. ........ . .
General, taxes, fioat’g int., loss on
Morris Canal, depreciations, &o.
Dividends*..................................
4,940,278
$
2,057,207
4,400,263
$
2,059,541
4,101,986
$
2,048,201
473,355
2,372,242
650,385
1,660,234
682,003
1,331,531
Total disbursements................
Balance, surplus.............. . ...........
4,902,804
37,474
4,370,160
30,103
4,061,735
40,251
* In 1884, 10 on pref. and 8 on com.; in 1885,10 on pref. and 5 on
com.; in 1886, 10 on pref. and 4 on com.—(V. 44, p. 1 17; V. 45, p. 500.)
L ittle M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84
miles; branch, Xenia, O., to Dayton, O., 16 miles; leased, Columbus &
Xenia RR., Xenia to Columbus, O., 55 miles; Dayton & West. RR., Dayton, O., to Indiana State Line, 38 miles: Ohio State Line to Richm’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, Ithe Col. & Xenia
Jan. 1, 1906
1911
July 8, 188T
Nov. 1, 1887
May 1, 1890
May 7, 1898
Aug. 1, 1918
July 1, 1931
April 1,1901
Sept., 1901
May 1, 1891
May 1, 1911
May 1, 1931
May 1, 1937"
July 1, 1910/
July 1, 1921
July 1, 1921
1926
1936
Oct. 1, 1927
Feb. 1, 1882
June 1, 1930
Oct. 15, 1893
March 1, 1931
Mar. 1, 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 Dayton & West. (Dayton to Ind. State line) and the Rich. & Miami (State line
to Richmond), and on Feb. 4,1865, purchased the road from Xenia to
Dayton; these three roads go to form the branch of 57 miles given
above. The partnership agreement was dissolved Nov. 30,1868, and a
contract made by which the Col. & Xenia road, including its interest in
the above-named branches, was leased to the Little Miami for 99 years.
On December 1, 1869, the Little Miami, with all its branohes, &c.,.
was leased to the Pittsburg Cincinnati & St. Louis Railroad Com
pany for 99 years, renewable forever. The Pennsylvania Railroad
Company is a party to the contract and guarantees its faithful execution.
Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease
rental is 8 per cent bn $4,837,300, interest on debt and $5,000 per
annum for Little Miami Company’s expenses of organization; the fulfil
ment of the lessor’s lease obligation is also stipulated. In 1886, rental,
&c., received, $684,129; payments, $668,677; surplus, $15,452. In
1885 rental, &c., $697,787; payments, $664,677; surplus, $15,452;
loss to lessee, $423,976.
L ittle R o c k Sc F o rt S m ith .—Owns from Little Rock, Ark., to
Fort Smith, 165 miles; branohes, 5 miles; total, 170. In Dec., 1874,
the property (then 100 miles), including the land grant, was sold in.
foreclosure. There is outstanding funding coupon scrip for $510,000..
The lands unsold Jan. 1, 1887, amounted to 609,981 acres, and land
notes, $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 in V. 44, p. 585. (V. 43, p. 125, 334, 487; V. 44, p. 275,
308, 434, 494, 495, 551, 5 8 5 ; V. 45, p. 642.)
L ittle R o c k Sc M e m p h is.—Owns from Little Rock, Ark., to a>
point on Miss. River, opposite Memphis. The Memphis & Little Rock
road was sold in foreclosure in 1872, again in 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 $162,500 per annum. Under the title Mem
phis <&Little Rock, in issues of the Supplement prior to Nov., 1887, an
acoount of ' the road is given. R. K. Dow, President, Claremont, N. H.
—(V. 45, p. 401.)
L ittle R o c k M ississipp i R iv e r Sc T e x a s.—Owns from Little
Rock to Arkansas City, 113 miles; Tripps to Warren, 53 miles; Rob
Roy Junction to Micawber, 4 miles; total, 170 miles. This com
pany was a 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, were not paid, and scrip
was offered to bondholders for two years’ interest to be funded. Fore
closure suits were begun in Nov., 1885, and in Feb., 1886, E H. Win
Chester and John Reed were appointed receivers. A new 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.)
L ittle S c h u y lk ill.—^
Owns from Port Clintra 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 Phila.
& Reading July 7,1868. The Little Scbuykill Railroad is leased to the
Philadelphia & Reading Railroad for 91 years from July 7,1868, at a
fixed annual rental
L o n g Is la n d .—Owns from Long Island City, N. Y., to Green
port, N. Y., 95 miles; branches, 82 miles; total owned, 177 miles.
Leased—Smithtown &Pt. Jefferson R R „ 19 "0 miles; Stewart RR. toBethpage, 14-5 ; Stewart RR. to Hempstead, 1*8; New York & Rockaway
RR., 8-9 ; Brooklyn & Jamaica RR., 9*6; Newtown & Flushing RB.,
3-9; Brooklyn & Montauk, 67; N. Y. Brook. & Man. Beach RR. and
branches, 2 0 T ; Hunter’s Point & So. Side RR., T5; Far Rockaway
branch, 9-4; L. I. City & Flushing RR.. 14; Whitestone Br., 4: Woodside
Br., 3-9. Total leased and operated, 165 miles. The total of all the
roads owned and operated is 341*4 miles.
The Long Island Railroad went into the hands of a receiver October,
1877, but In 1881 the company resumed possession.
The control of the company was sold to 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. Inf
August, 1881, most of the holders of Smitntown & Port Jefferson
bonds and N. Y. & Rockaway 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
$1,961,089, against $1,844,151 in 1885-6; net, $682,238, against
$591,837; surplus over fixed charges, $273,655, against $203,611.
The financial information obtained is from the statistics furnished theState authorities.
Fiscal year ends Sept. 30; for 1885-6 report was in V. 43, p. 745
64
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
Subscribers w i ll confer a great fa v o r by g iv in g im m ed ia te notice o f an y error discovered in tbese T a b les.
Bonds—Prlnoi INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per Whgn
Par
of
Where
Payable,
and
by
Stocks—Last
For explanation of column headings, &c., see notes of
Outstanding
Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
on first page of tables.
Louisville <£ Nashville - ( Continued) —
2d mortgage on New Orleans & Mobile RR...........
Bonds sec’d by pledge of 2d mort. S.&N.Ala.RR..
1st M.. gold, on Southeast.& St.L.RR.,coup.or reg.
2d mort!, gold, on Southeast. & St. Louis RR., cp.
PensacolalMv., 1st mort., gold................................
Mobile & 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,$3,208,000 pldgd
1st mort., gold, on branohes, $15,000 per m ile ...
Car trust liens ($ 1,721 payable eaoh month)........
Henderson Bridge Co., 1st mort., gold...................
1st mortgage, coup, or reg.......................................
Mort., gold, on Chic. & Ind’polis Div., coup, or reg
2d mortgage, gold, coup, or reg..............................
Consolidated mortgage gold (for $10,000,000) —
Louisv. N. 0. <6 Tex.—1st M , g., for $16,9O0,OO0..C'
2dmort. income bonds, cum. (payable at 105)..o *
Lykens Valley—Stock...................................................
1st mortgage, consolidated......................................
Collateral trust bonds for Mt. Desert Branch.......
Bonds ($1,100,000loan) A. &. K. R R .,..................
Extension bonds, 1870, gold....................................
Maine Central loan for $1,100,000............... ........
$1,000 $1,000,000
1.000
1.960,000
1,000
3,500,000
1,000
3,000,000
1,000
590,000
Pledged.
1,000
Pledged.
1,000
1,000
2,000,000
1,000
2,850,000
892,000
100 &c.
1,000
50,000
1,000
1,350,000
1,000
484,000
1,000
1,959,000
100
5,000,000
617
1,000
3,000,000
288 1880
1,000
2,300,000
158 1881
1,000
855,000
446 1883
1,000
3,500,000
520 1886
1,000 11,140,000
513 1886
1,000
8,117,000
513 1886
1,000 10,000,000
1884
20
600,000
21
100
3,603,300
‘ 527
4,176,400
304 1872 100 &o.
__
694,000
41 1883
1,000
599,000
1885
100
<fcc.
1,100.000
1860-1
55
496,500
18 1870 500 &c.
756,800
109 1868 100 &c.
141
189
208
208
45
180
104
185
175
175
175
86
1880
1880
1881
1881
1880
1881
1881
1881
1867
1877
1881
1887
1882
1881
6
6
6
3
6
6
6
6
7
7
6
5
6
6
J. & J.
A. & O.
M. & S.
M. & S.
M. & S.
M. & N.
M. & S.
F. & A.
J. & J.
A. & O.
g. M. & N.
g. M. & N.
A. & O.
g. M. & S.
g.
g.
g.
g.
6
6g.
6 g.
6 g.
4 g.
5
6
2ifl
3
5 &7
5
J. & J.
F. & A.
F. & A.
A. & O.
M. & S.
M. & S.
M. & S.
Q .-J .
F. & A.
A. & O.
J. & D.
F. & A
i ® ' M’nthly
6 g. A. & O.
J. & J.
7
N. Y., 50 Exchange pi. Jan. 1, 1930
London, Baring Bros. April 1, 1910
N. Y., 50 Exchange pi. March 1, 1921
March 1, 1980
do
do
do
do
Mar. 1, 1920
do
do
May 1, 1931
do
do
Mar. 1, 1931
do
do
Aug., 1921
do
do
Jan. 3, 1897
do
do
Oct. 1, 1907
do
do
Nov. 1, 1931
do
do
May 1, 1937
Philadelphia.
Apr.l, 1889-89
N. Y., 50 Exchange pi. Sept. 1, 1931
N.Y., Nat.Bk. Commerce
do
do
do
do
do
do
N. Y., R. T. Wilson & Co.
do
do
do
do
New York, Treasurer.
July 1, 1910
Aug. 1, 1911
Feb. 1, 1888
Jan. 1,1916
Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934
Oct. 2, 1887
Feb. 15,1887
Boston, 2d Nat. Bank. April 1,1912
Bost., Am.Loan& Tr.Co. June 1, 1923
Boston, 2d Nat. Bank. Feb. 1, 1905
do
do
1890 to 1891
do
do
Oct.. 1900
do
do
July, 1898
1882-83.
1883-84.
1884-85.
1885-86. controlled by ownership of stock, June 30,1887, was 3,707 miles. In
1887 arrangements were made for extension of a line which will conneot
Miles operated.....................
354
354
354
342
with the Clinch Valley Division of Norfolk & Western.
Earnings and Expenses—
$
$
$
$
Passenger earnings...............1,695,177 1,759,597 1,807,346 1,878,447
Organization , L eases , &c .—The Louisville & Nashville was chartered
Fr< ight earnings.................. 718,743
720,630
727,623
798.817 March
and opened between Louisville and Nashville November.
Miscellaneous earnings.... 271,169
276,005
291,069
317,508 1859. 2,1850,
The liabilities for interest on the auxiliary roads are treated
mostly
as
belonging
directly to the Louisville & Nashv. Co. The South
Gross earnings...............2,685,089 2,756,232 2,826,478 2,994,772
east. & St. Louis RR.,1which was reorganized after foreclosure of the
E xi enses and taxes..’....... 1,693,814 1,859,505 1,795,252 1,872,325 St. Louis & Southeastern, Nov. 16,1880, is leased to the Louisville &
Nashville for 49 years, and the L. & N. issues its bonds as above,
Net earnings..,...............1,001,275
896,727 1,031,226 1,122,447 secured on the road, about 210 miles long in Indiana and Illinois,
Lease rentals........................ 282,466
287,693
297,559
304,063 There is also $999,500 of S. E. & St. L. stock. The fiscal year of L.
In terest................................ 209,059
190,876
207,922
312,335 & N. ends June 30. Annual election is held early in Ootober.
Stock and B onds.—At the close of the fiscal year (June 30) 1880 the
There are also real estate mortgage, $238,000, 5s and 7 s ; time loans
$200,000, at 6 per cent. (V. 43, p. 191, 7 4 5 ; V. 44, p. 212, 586; V. 45 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.
p. 142, 212.)
All the dividends paid since 1870 were as follow s: In 1871, 7 per
L o n g Is la n d City Sc F lu s h in g .—Road from Long Island City to cent; in 1872, 7 per cent; in 1873, 7 per cent; in 1877, l 1« per cen t;
Great Neck, 14 miles; »ranches, 4-8 miles; total, 18-8 m. This is a reor- in 1878, 3 per cent; in 1879, 4 ; in 1880, 8, and 100 per cent in stoek ;
anlzation of the Flushing & North Side road, foreclosed December 11, in 1881, 6; in 1882, 3; nothing since.
880. The stock is $500,000; par, $100. The income bonds are pay
Prices of the stock from 1872 to date have been: In 1873,
able at will. $912,000 consolidated bonds are reserved to retire prior 50® 79; in 1874, 53®59; in 1875, 36Ja®40; in 1876, none; in 1877,
lien bonds. The company is liable for $25,000 of New York & Flushing 2 6 ® 4 1 ;in l8 7 8 , 35®39; in l8 7 9 , 35®89!2; in 1880, 77® 174; in 1881,
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee 79®1101a; in 1882,46^® 100%; in l8 8 3 ,4 0 1%®581«; in 1884, 22*a ®51%
taking 60 per cent of gross earnings and $17,500 for fixed charges. In in 1885, 22®51% ; in 1886,338s®69; in 1887 to Nov. 18, inol., 54ie®704i.
1883-84 gross earnings were about $213,000, of which 40 per cent to
The general mortgage of 1880 is for $20,000,000, of which the bal
this company was $85,035; in 1894-5, rental $116,537; in 1885-6, ance unissued is reserved to pay off prior liens, and the mortgage covers
Rental, $102,495. Austin Corbin, Pres., New York City. (V. 45, p. 53.)
840 miles of road subject to such liens. The Louisv. & Nashv. Lebanon*
Knoxville bonds of 1881 cover 110 milbs, subject to prior liens, and 62
L o s A n geles & San D ie g o .—F renee to Santa Ana, Cal., 27 miles from Livingston to State line as a first lien. The Pen. & Atlantio
miles. Leased to Cent. Pac., and r& •
, §§ was $33,374. Capital is a separate company and the bonds are not a direct liability of the
stock, $570,800. Chas.Crocker, Pr
L. & N. Co., but principal and interest are guaranteed by L. & N. A
L o u isia n a W e s te rn .—(See M&p
■■■
' Lafayette sinking fund begins Feb., 1889. The P. & A. has issued to the L. & N.
La., to Orange, Texas, 112 miles,
;
ivs ?■'**:• total $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
112 miles. Leased and operated by nit1- w ii ;
‘-e
John A. Stewart as trustees, and has a sinking fund of 1 per cent
through line between New Orleans and Houston, F m s J
:
dually, the bonds being purchased or drawn ana paid off at 110. These
30, in 188 7 (9 mos ), gross earnings were $bO?0
■- sre also redeemable at any time at 110, and are convertible into
in 1886; net, $288,049, against $236,958. In 188
fit.
^
' bonds are secured by a 3d mortgage on the road and by
were $644,689; net, $3 29,207. Surplus over interest cv •
i -;>? a
-sre amount of stocks and bonds (see V. 45. p. 475), the
$163,559. Gross earnings for year 1885 were $627,317; net, .
.
■
if
being $9,633,000 and stocks $18,529,700 ; total,
Stocx is $3,360,000. (V. 43, p. 133, 163; Y. 44, p. 344, 369, 6 20.)
f
L o u isv ille E v a n sv ille Sc St. L o u is.—Line of road. New Albany,
Ind , to .vie. Vernon, Ills., 182 miles; branches to Jasper & Gentryville, 72
mnes; trackage, Louisville, Ky., to New Albany, Ind., 6 m ; cotal oper
ated, 2* 0 miles; opened Oct., 1882.
The road was formerly the
Louisville New Albany & St. Louis, foreclosed in 1878. In Oct., 1881,
a consolidation was made with the Evansv. Rockport & Eastern, and the
$900,00 > of E. R. & E. 1st mortgage bonds stand as a prior lien on that
division. The foreclosure sale was made June 9, 1986. The plan of re
organization was in V. 41, p. 720, by which 1st mortgage bondholders
took new second mortgage bonds bearing no interest in 1886, 2 per
per cent in 1287 and 1888, 3 per cent in 1»8 >, 4 per cent in 1890, 5 per
cent in 18 •Land 6 per cent therenfter, and a first mortgage of $2,000,000
was issued as a prior lien. The stock is $1,500,000 prel. 5 per eent,noneuoiulative, and $3,500,000 common; the par of all shares is $100. The
Huntlnburg Tell City & Cannellton RR. (24 miles) bonds are guaran
teed by this C i. In 1885-6 gross earnings were $786,229; net, $213,357. In 1894-85 gross earnings, $716,119; net, $142,224. (V. 43, p.
125, 274, 302, 431, 452; V. 45, p. 3 42, 304.)
L o u i s v i l l e Sc N ash v ille.—(See M ap.)—Line op Road.--Main
line—Lou isville to Nashville, 185 miles; branches—Junction to Bardstown, Ky., 17; Junction to Livingston, Ky., 110; Livingston to Jellco, Ky , 61 ; Montgomery to Mobile, 179; New Orleans to Mobile, 141;
branch to Pontchartrain, 5 ; Paris, Tenn. to Memphis, 259; East St.
Louis, HI., to Evansville, Ind., 161; Junb., 111., to Shawneetown, 111., 41,
Belleville, 111., to O’Fallon, 111., 6; Pensacola, Fla., to Pensacola Junction;
Fla., 4 4 : branch to Muscogee dock, 1; Louisville, Ky., to Newport, Ky.,
109; Junction to Lexington, 67; Louisville H. Cr. & W’port. (n. g.), l l ;
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; Junotion to Wetumpka, 6;
Junction to Shelbyville, 19; Louisville Transfer, 4; No. Div. Cumb. &
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, the earnings of 79 miles of the leased roads
«eased to b - included in L & N earnings, and the Birmingham Mineral
road. 11 miles, was absorbed, making total mileage operated Oct., 1887,
1,955 miles.
Also owns the Richmond Branch (leased to Kentuoky Central). 34
miles, and the Cecilian Branch (leased to Ches. O. & So W.), 46 miles,
and controls, by ownership of a majority of the stock, the Nashville
Chattanooga & St. Louis RR., 600 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
lessees with the Central of Georgia, is interested in the Georgia Railroad
and its auxiliaries, 679 miles. Grand total of roads owned, leased and
ifiitessai mortgage bonds were issued in 1884, and
Co.
¡Sfi >:• NSaS lit
-:■=. Ru«.a tluo » m branches, subject to the prior liens,
Ui c; ||§£
§§§ y * t.ruijj > eurities pledged under the trust
and ar5 & second Itstj
deed of lSe
rtet v. 30. is
Uity of the L. & N. The
The Henderooh Bridge fib. bo:u>s are uoi
si idt of $1,000,000, of
bridge is owned by t
- si# i l -i
is guaranteed
which the L. & N. Go. bohi*
i
' Kiisää usmsrit.
gross receipts of $200,000 per ! . i, ■f y j >
in,«;; I H ' ) ,ooo per
The mortgage bonds of 1887 oa hrenc
and thiv.R is ifsvfe«. ‘ be
mile. U. 8. Trust Co. is trustee of the
Cumberland Valley Branch, the Ind. Ala. ^
< Hli a ? . m ^
44, p. 751.)
Operations , F inances , &c.—The Louisville & Na&.
been developed in its present extensive form since 1879; u
cent stock dividend wa3 declared in 1880.
The annual report for the year ending June 30,1887, was pupils»*
in the Chronicle, V. 45, p. 474, and gave full details of the year
operations. Tne surplus net inoome over annual charges was $1,832,253, and the advances to other roads during the year amounted to
$1,426,490. Of this the advances to the old roads in the system
amounted to $97,527, which is a olaim payable by these several com
panies. The balance of the advances was made to the Birmingham
Mineral Railroad Co., Nashville Florence & Sheffield Railway Co., Cum
berland Valley Branch, Bardstown Extension, and Princeton Branch,
and amouuted to $1,328,962, which was for new construction and is a
strictly capital expenditure. To reimburse capital account for expen
ditures, the Louisville <fc Nashville RR. Co. issued and sold $1,350,000
L. & 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 meat the requirements of increased business made it
desirable to keep your company in a strong financial position.”
From July 1, 1887, to Sept. 30,1887 (3 mos.) gross earnings were $4,134,132, agst $3.707,471 inl885-6; net, $1,690,427, agst $1,586,991.
Fiscal year ends June 30. For 1886-87 the report was in V. 45, p.
471, 474 for the. Louisville & Nashville proper
1883-81.
1884-85.
1885-86.
1886-87.
Total gross earns.......$14,351,093 $13,936,347 $13,177,018 $15,080,584
Oper’g ex. (excl.tax.) 8,823,782
8,182.255
8,213,295 9,047,052
Net earnings.......... .
Per ct. of ex. to earn.
5,527,311
61-48
5,754,092
58-71
4,963,723
62-33
6,033,532
59-99
INYESTOKS’
60
SUPPLEMENT.
V ol. XLY,
Subscribers w i ll confer a great favor by g iv in g Im m ediate notice o f a n y error discovered In these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
For explanation of column headings, &c., see notes of
Par Outstanding
Stocks—Last
of
on first page of tables.
Whom.
Cent. Payable
Road. Bonds Value.
Dividend.
Maine Central—(Continued)—
European & North American (Bangor loan)..........
56 1869 $500&c.
Leeds & Farmington Railroad loan........................
36 1871 100 &o.
Androscoggin Railroad, Bath City loan................
30 1866 100 &c.
Portland & Kennebec, consolidated mortgage___
71 1865 100 &c.
Manchester A Lawrence—Stock...................................
100
26
Manhattan (Fie*.)—Consol, stock..............................
100
32
Metropolitan Elevated. 1st mortgage....................
1,000
18 1878
do
2d M. (guar, b y Manhat’n).
1.000
18 1879
N. Y. Elevated, 1st M.(payable at 105 after 1896)
1,000
14 1876
do
Debentures, coup..........................
1.000
14 1886
Marietta Columbus A ¿V.—1st M. .gold,(Mar.Mineral)
lOO&c.
42 1885
Marietta <6 North Georgia—1st M., gold, $7,000 p.m. 120 1881
1.000
2dmort. ($6,000 per mile).......................................
1,000
120 1881
New 1st mortgage, gold ($16,000 per mile).......c • 112 1887
1,000
Marquette H. A O —Common stock ............................ 156
100
Pref. stock (6 per oent div. guar, by D. S. 8. & A.) 156
100
1st mort., M.&O., coup. (int. guar.by D. 8 S.& A.)
50 1872 100 &c.
M. H. & O. mortgage (int. guar, by D. S. S. & A.)..
1,000
90 1878
1,000
! Bonds for extension, &c., guar................................
1883
1,000
M. H. & 0 . 1st mortg. on Mar. & West., guar____
1885
Memphis A Charleston—Stock....................................
25
330 1
1st & 2d. mort. extension bonds, Ala. & Miss. Div. 181 1854
,
2d mortgage, extended.............................................
1867
1,000
Consol.,gold ($1,400,000 lstm . on 93m. in Tenn.) 292 1877
1,000
General mortg., gold................................................
292 1884
1,000
M exican Central (M exico.)—1st mort., reg., gold ... 1,340 1881
1,000
Income bonds, conv., not cumulative, reg.............
Coupon notes for interest funded...........................
1884 100, &o.
1,000
Debentures (secured by collateral) (V. 39, p. 733)
1885
1,000
Mexican National—IstM ., new, gold ($9,000 p. m).
1887
2d M., ser. “ A,” g., inc. accum (for $17,175.000).o*
1887 500&C.
500&C.
do., ser. “ B,” g., inc non-ao. (for $17,175.000)...r —
1887
INCOME ACCOUNT.
1883-84.
1884-85.
$
$
5,527,311
5,754,092
272,833
198,591
$1,000,000
633,000
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
800,000
2,378,670
3,278,456
1,427,500
576,200
1,500,000
1.400.000
5,312,725
2.155.000
105,000
2,264,000
1,000,000
41,170,000
8,734,000
3,825,570
2,500,000
11,500,000
12,165,000
12,165,000
6
6
6
6
5
l 1*
6
6
7
5
6 g.
6 g.
6 g.
I g*
3
8
6
6
6
7
7
7
6
4
3
10
10
6
6
6
J. & J.
J. & J.
Q .-J .
A. & O.
M. & N.
Q .-J .
J. & J.
M. & N.
J. & J.
M. & S.
M. & N.
J. & J.
J. & J.
J. & J.
F.
J.
M.
J.
A.
&
&
&
&
&
A.
D.
S.
D,
0.
Bost., Merch’ts’ Nat.Bk.
Boston, 2d Nat. Bank.
do
do
do
do
Manchester and Boston.
N. Y., Mercantile Tr.Co
do
do
do
do
do
do
do
do
N.Y., Farmers’L.&T.Co
N.Y. ,Boody ,McLel. &Co.
do
do
Jan. 1, 1894
JUly, 1891
July, 1891
April 1, 1895
Nov. 1, 1887
Oct. 1, 1887
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
Boston, N. Eng. Tr. Co. June 1, 1892
do
do
Mar. 1, 1908
do
do
June 1, 1923
do
do
April 1, 1925
J. & J. N.Y..W. H.Brown& Bros.
J. & J.
do
do
do
do
g. J. & J.
do
do
e. J. & J.
Boston, Office.
g. J. & J.
July 1
do
J. & J.
do
J. & D.
New York.
New
York.
J.
&
D.
gdo
g. M. & S.
April
1
do
g.
J a n .1, 1915
1915
Jan. 1, 1915
Jan. 1, 1924
July 1, 1911
July 1, 1911
July 1, 1889
Deo. 1,1927
June 1, 1927
July 1, 1917
July 1, 1917
1884.
1885.
1886.
$369,300
1886-87. Interest.................................. $369,300
$461,538
Rentals, insurance and taxes.
213,823
$
217,951
223,869
50,000
6,033,532 Interest on car trust bonds..
50,000
50,000
479,858
$637,251
$735,407
Total charges.................. $633,123
Total income............
5,800,144
5,952.683 5,171,530 6,513,390 Deficit................................... $533,831
$288,832
$94,747
Disbursements—
87-26
79-27
66*62
Taxes.........................
309,450
379,845
370,814
365,317 Percentage of operating ex.
Rentals.....................
Villiam. Dowd, President, N. Y. (V .4 4 ,p. 5 9 ,9 0 ,3 4 2 , 403, 553, 5 8 4 ,
67,000
58,333
15,0001
4,207,223
4,026,543 4,085,706 1 4,260,310 621, 713; V. 45, p. 437.)
Interest on debt.......
Divid’s on L. &N..N.
>
L o u isv ille N ew Orleans 6c T exas—(See map)—Line of road
«StD.andM. & M ...
113,090
116,242
117,0951
Georgia KB. deficit..
11,000
49,299
44,815
55,480 Memphis, Tenn., to New Orleans, La., 456 m iles; Leland to Huntington,
Miss.,
22 miles; Washington Co. branch, 35 miles—total owned. 513
Miscellaneous..........
8,377
7,542
10,297
. . . . __
miles. Leased—Clinton to Port Hudson, La., 22 m iles; total operated,
53
4
miles.
This road was built in the interest of the Huntington system
Total disbursements. 4,716,145 4,637,806 4,643,727
4,681,137
of roads, and forms the connecting link in that system across the
Balance, surplus___ 11,116,337 11,356,890 ||692,495
1,832,253 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
t $32,338 to be refunded, included in surplus,
gage bonds are Issued at $30,000 per mile on the main line and $20,000
i $42,012 to be refunded, included in surplus.
per mile on the branch lines. The second mortgage bonds are “ in
B $164,692 to be refunded, included in surplus.
comes,” receiving interest only when earned; but interest only begins
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
to run Sept. 1, 1888 ; unpaid interest is cumulative, with interest
1883-84.
1884-85.
1885-86.
1886-87. thereon at the rate of 5 per oent; after Sept., 1888, these bonds may be
paid off at 105. The Union Trust Co. of New York is trustee of the 1st
A
^
^
Boad,equipment, &c. 67,776,064 67,930,874 68,433.991 68,936,040 and 2d mortgages, and Edward H. Pardee and Albert Crolius of a new
Timber&quar. lands
688,024
689,941
598,746
434,816 land grant income mortgage which has been executed to take up the
Stocks owned.......... 16.904,853
2.005,590 1,298,347 1,708,984 old income bonds; but none yet issued. From Jan. 1 to Sept. 30, in 1887
Bonds owned..........
4,050,673
4,249,861 4,435,098 6,262,598 (9 months), gross earnings were $1,351,787, against $1,092,533 in 1886;
Stks&bds. field in tr'tlT 9,527,878
9,527,878
9,527,878 9,527,878 net, $312.665, against $220,601. Gross earnings for year 1886, $1,803,net, $551,222. Gross earnings in 1885, $1,390,717; net earnings,
Bills & acc’ts. receiv.
1,922,803
1,771,487
1,935,654 1,851,439 785;
Materials, fuel, &o..
762,273
726,624
926,262 1,044.803 $360,711. Mr. R. T. Wilson, Pres., N. Y. (V. 44, p. 60,185, 308, 434;
V.
45,
p. 512.)
297,316
404,714
303,976 1,375,143
Cask on band............
Bo. &No. Ala. R R ...
1,565,968
1,733,805 2,071,723
178,432
L y k en s V a lle y .—Owns from Millersburg, Pa., to Williamstown,
Nasb. &Dec. R R . . . . .
599,478
603,250
618,148
632,140 Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a
Other roads §............
1,172,928
1,567,793
635,978 2,230.943 coal road leased and operated by the Northern Central Railroad since
O. O. Baldwin acc’ti1,005,929
850,809
850,808
850,808 July, 1880, and previously by the Summit Branch RR. The lease is for
Sinking fund............
50,000
50,000
............
.......... 999 years from March 1,1866, and the rental is $62,500 per anonm.
Profit and loss..........
............
2,479,344 2,068,666
............
M ain e C entral.—Mileage as follow s: Main line, Portland to Ban
Total assets........ 96,324,187 94,591,970 93,705,275 95,034,024 gor, Me., via Augusta, 136 6 miles; branches, Cumberland Junction to
T’.-iahi/i/iVe _
$
fl!
(D
Skowhegan, 90-7 miles; Bath to Farmington, 71*2 miles; Crowley’s
Stock......................... 30,000,000 30,000,000 30,000.000 30,000,000 Junction to Lewiston, 4-7 miles; total owned, 303-2 miles. Leased—
Bonded debt*........... 57,530,712 61,958,314 61,355.254 61,999,596 Burnham Junction to Belfast, 3 3 1 miles; Newport Junction to Dexter,
14 miles; Brewer Junction to Bucksport, 1 8 1 miles; Bangor to VanceLouisville b on d s....
850,000
850,000
201,000
......
Debentures.............
529,800
............
............
.......... boro, 114-1 miles; Penobscot Switch to Mt. Desert Ferry, 41-7 miles ;
total
leased, 221 miles. Total operated, 527-2 miles.
Bills payable...........
3,599,266
189.279
41,229
377,796
This was a consolidation in 1862 of the Androscoggin & Kennebec
Interest.....................
475,759
499,435
501,528
504,929
Railroad
and the Penobscot & Kennebec. In August, 1873, the Port
Miscellaneous..........
34,933
34,774
34,327
327,918
June pay-rolls, &o..
1,236,152 1,060,168
1,571,937 1,287,874 land & Kennebec, Somerset & Kennebec and Leeds & Farmington rail
roads
were
also consolidated with the Maine Central.
Profit andloss..........
2,067,565
............
............
535,911
There are also $58,000 5 per cent debenture bonds due 1894 and
Total liabilities.. 96,324,187 94,591,970 93,705,275 95,034,024 $20,000 Shore Line 6 per cents, due 1923. The annual report of the
company was published in Y. 43, p. 773, for the fiscal year ending Sep
* The bonds deposited in the $10,000,000 trust have been deducted here tember
30.
t Includes $5,000,000 L. & N. stock unissued.
FISCAL RESULTS.
$ An open account, the company claiming that Mr. Baldwin is indebted
1882-83.
1883-84.
1834-85.
1885-86.
to it in this sum
TT Less $8,633,000 bonds pledged and $3,070,960 included in cost of Total gross earnings $2,835,494 $2,816,373 $2,839,779 $3,001,076
Expenses and taxes.
1,839,707 1,750,710 1 ^ 9 .9 0 2
road.
1,820,740
( Including construction of new roads.
Net
earnings.......
$995,787
$1,065,663
~
~
.
na
~
~
$l,ibO ,J5o
—(V. 44, p. 59,185, 308,434,458, 586, 713, 751; V. 45, p. 26, 239, 304,
INCOME ACCOUNT
’
457, 4 7 1 , 472, 4 7 4 .
1882-83.
1883-84,'
a_
Receipts—
1885-86.
L o u isv ille N ew A lb a n y & C h icago—(See map)—Operates from
$995,787 $1,065,66]/.
1884-85.
earnings............
New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289 Net
29,121
10,4 f t $ lil°8 .8 7 7 $1,180,336
7,400
m iles; Howland Junction to Hammond, Ind., 160 miles; Bedford, Ind., Other receipts..........
.4*21
7,828
to Bwitz City, 43 miles; Orleans, Ind.. to French Lick Spr., 17^
Total incom e.... $1,024,908 $1,076,0
$1,187,736
miles; total owned, 509 miles; leased—Hammond to Chicago, 20 miles;
«4
$1,116,705
Disbursements—
Howland’s Junction to Indianapolis, 4 miles; New Albany to Louisville, Rentals
$182,958
$189,000
5 miles; total leased, 29 miles; total operated, 617 miles. A lease for Interest paid............
$661,39J0
$189,000
644.146
on bonds...
707,130
999 years with Chicago & Western Indiana at $127,000 per year gives Dividends.................
197,522
215,578
entrance to Chicago.
The Louisville New Albany & Chicago was opened in 1852 and sold
Total disburse’s $1,024,626 $1,065,927 $r„
” $1 l l { '708
in foreclosure Dec. 27, 1872, and reorganized without any bonded debt.
$282
$10,157
^0997
« 7^028
In Aug., 1881, consolidated with Chicago & Ind. Air Line, and stock Balance....................
increased to $5,000,000, giving 15 per cent increase to stockholders of - ( V . 43, p. 102, 217, 334, 458, 618, 7 7 3 .)
record Aug. 31.
M anchester 6c L a w ren ce.—Owns from Manchester, N. H., to
The consolidated bonds of 1886 were made for the authorized amount
(State Line), 22H miles; leased, Methuen Branch of the
of $10,000,000, of which $5,300,000 was reserved for the prior first Methuen
Boston & Maine Railroad, 3% miles; total operated, 26 mines. Road in
mortgages, $3,000,000 used to exchange for 2d mortgage bonds of operation since 1849. Methuen branch is leased at a rental of $11,000
1883 and general mortgage bonds of 1884 outstanding, and the balance per annum. Company lays claim to a two-fifths interest ita the Man
$1 ,700,000 used for building new road, for improvements, &c. In June, chester <&North Weare RR., which is operated by Concord RIa.
1887, all the car trust certificates were paid off.
In June, 1887, the M. &. L. voted to lease its road for 50\years to
Fiscal year ends Dec. 31. The annual report for 1886 was in V. 44, Boston & Maine at a rental paying 10 per cent dividends. TOhe fiscal
p. 584. Earnings, expenses and charges have been as follows :
year ends March 31. Gross earnings in 1885-80, $177,302, nerc, $100,1884.
1885.
1886.
569. In 1886-7, gross, $172,524; net, $100,691. (V. 44, p. 807.A
Gross earnings.................... $ 1,564,436
$1,680,454
$1,919,189
Operating expenses............ 1,365,144
1,332,035
1,278,528
M a n h atta n E leva ted .—Road operated, 32-39 miles. This Wras a
corporation formed (Nov. 24,1875) to lease and operate the two elevated
Net earnings.................. $199,292
$348,418
$640,661 railroads in New York City. Its capital stock was $13,000,000, ^ n d
Receipts—
Net earnings............
Income from invest’s
1885-86.
$
4,963,723
207,807
•No v e m b e r ,
1887.]
RAILROAD
STOCKS
ART)
BONDS.
67
OS
INVESTORS’ SUPPLEMENT.
[VOL. XLV.
MAP OF THE
LOUISVILLE,
N E W ORLEANS
AND TEXAS R. R.
The ruled shading indicates I*and Grant
N ovember, 1887.
RAILROAD
STOCKS
AND
BONDS.
6 9
Subscribers w ill confer a great favor by giv in g im m ediate notice o i any error discovered in these Tables.
1
Bonds—Prinof-.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles
Size, or Amount
pal,When due...
of
of
Par Out standing Rate per 1 When WTxere Payable, and by NtoeAw-—Last i
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Mexican Nat —(Coni'd)—3d mort. deb. (income) .
Texas-Me >ican, Corpus Ch.S.D.A R.G.. 1st M., gel r i e i
do
1st mortgage, gold ($15,000 p. m. 1 165
Michigan Central—Stock.................................. ........ 1,502
Consolidated mortgage ($2,000,000 are 5s)........
270
M. C. Michigan Air lane mortgage.. . . . .
• ___
103
10
Michigan Air lin e 1st mort., assumed by M. C ...
M. C. bonds, mort. on Grand River Valley RR. .
84
Kal. & So. Hav., 1st and 2d morts., guar............
39
Grand River Valley, stock, guar...........................
84
Detroit & Bay City 1st en’d. and b r id g e ...,........
145
M. C. mort. on Detroit <fc Bay City Railroad.......... 145
Jackson, Lansing & Saginaw, consol, mort.......... 236
Jackson Lansing & Saginaw consol, mort............. 298
Middletown Unionville A Water Cap—1st mortg. ext.
13
....
do
do
2d mort. guar..............
Muw. Lake Shore A West—Common stock.................. 577
Preferred stock..................... ...................................
577
Consol, mort., gold...................................................
346
Income bonds (not cumulative)............... ..............
....
Equipment b on d s.................................. ..................
Michigan Div., 1st mortg , gold (for $3,000,000).. "85
Ashland Division, 1st mortgage, gold....................
40
St. Paul Eastern Grand Trunk, 1st, gold, int.guar.
56
Funding notes..... ...................................................... . . . .
Equipment................................................................. . . . .
Convert, debentures for $2,000,000 gold............. . . . .
Ontonagon, 1st M.. gold (redeemable at 105)__ o
16
Milwaukee A Lake Winnebago—1st mortgage, gold.
65
Income bonds, gold (cumulative)............................
Debentures, g old ......................................................
....
Milwaukee A Northern—1st mortgage....................... 126
1st mortg. on extension ($17,000 per mile).......... I 174
1880
1881
1872
1870
1870
’79-86
’ 69-70
....
1872-3
1881
1871
1880
1866
1871
1881
1881
1882
1884
1885
1883
1835
1885
1887
1886
1882
1882
1884
1880
1884
l.OOO&c $7,040,000
5
1,000
960,000
7 g. J. & J.
1,000
1,380,000
6 g. J. & J.
100 18,738,204
2
F. & A. Grand Central Depot.
1,000 10,000,000
7 & 5 M. & N. N. Y., Union Trust Co.
1,000
1,900,000
8
J. & J.
do
do
1.000
200.000
8
M. & N.
do
do
1,000
1,500,000
6
M. & S.
do
do
1,000
710.000
8
M. & N.
do
do
100
491,200
21« J. & J.
do
do
....
424,000
8
M. & N.
do
do
1,000
3,576,000
5
M. & S.
1.000
1 943,000
8
M. & 8.
do
do
1,000
1,100,000
6
M. & 8.
do
do
....
150,000
5 g. M. & N. N. Y., N. Y. Susq. & W.
250,000
5
J. & D.
do
do
100
2,000,000
100
5,000,000
31« J. & T.
New York.
1,000
4,350,000
6 g. M. & N. N.Y., N. Bk. of Com’rce
1.000
500,000
6
M. & N.
do
do
1,000
180,000
8
J. & J. N. Y., 8. 8. 8ands & Co.
1,000
1,281,000
J.
& J. N. Y. Bk. of Commerce
6 g»
1,000
1,000,000
6 g. M. & S. N. Y. Bk. of Commerce
1,000
923,000
6 g. J. & J. N. Y., S. S. Sands & Co.
1,000
200,000
7
J. & D.
do
do
1,000
500,000
6
J. & J.
do
do
1,000
650,000
do
do
5 g- F. A A.
1,000
225,000
do
do
6 g. A. & O.
1,000
1,430,000 1
6 g. J. & J. New York & Boston.
1,000
520,000
do
do
5 g- J. & J.
200,000
do
do
6 g. A. & 0.
1,000
2,155,000
6
J. & D. S'. Y.,Meroh.Exch.N.Bk
1,000 1
979,000
6
J. & D.l
do
do
it 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 in
October, 1881, by agreements among the three companies, which we»*»
supplemented by an agreement of Nov. 14,1881, for the surrender of
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
pany to the holders of stocks in the other companies, v iz : For Manhat
tan, 85 per cent in new stock; for New York, 120 per cent; for Metro
politan, 110 per cent.
There are large claims pending against the elevated roads for damage
to property on their lines, and many of these are before the courts. The
Court of Appeals’ decision was agaiust the Company in the Lahr and
Wagner suits re erred to in V. 44, p. 173.
In 1886 the debentures of the New York Elevated were issued for
advances made by the Manhattan Co. for new equipment, new construc
tion, tax arrearages, &c.
The stockholders of the Manhattan Elevated RR. had the privilege
July, 1886, of taking $600,000 stock and $600,000 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:
1883-4.
1884-5.
1885-6.
1886-7.
Gross earnings............$6,726,359 $7,000,567 $7,426,216 $8,102,662
Operating expenses... 3,884,949 3.967,983
3,960,191 4,970,450
Net earnings___$2,841,410 $3,032,584 $3,466,024 $3,132,212
Interest and rentals... 1,381,713
1,459,043
1,806,393
1,554.080
Balance..............$1,459,697 $1,573,541 $1,659,631 $1,578,132
Deduct dividends....... 1,170,000 1,560,000
1,560,000
l,560,00o
Surplus.................. $289,697
$13,541
$99,631
$18,132
The following is a statement of the number|of passengers carried on
the elevated i aili oads in New Yoik, and the gross earnings, since the
completion of the roads :
Passengers.' Earnings.
Passengers. Earnings.
1878-79.. 46,045,181 $3,526,825 188384.. 96,702,620
$6,723,832
1879 80.. 60,831,757
4,612,976 1884-85.. 103,354,729
7,00( >,566
188081.. 75,585,778
5,311,076 188586..115,109,5917,426,216
188182. 86,361,029
87..158,963,232
5,973,633 18868,102,662
188283.. 92,124,943
6,386,506
—(V. 43, p. 49, 459; V. 44, p. 173, 244, 621, 654: V. 45,p. 272, £04, 6 4 1 ,
673.)
M arietta C olu m bu s Sc N o r th e r ‘ .—Road from Marietta, O., to
Athens. 25 miles; Big Run to Joy, 12 in : branch to Stuart, 4 m., to be
built. Formeily the Marii tta 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. P. Cutler, Marietta, O., President.
M arietta 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
interested parties, including $275,000 bv the city of Knoxville; and to
provide additional means required to finish and equip the road, and to
retire all the bonds heretofore issued, the company has mortgaged its
entire road, built and to be built, to the Central Trust Company of New
York, to secure first mortgage consolidated bonds for $4,500,000. After
1897 $15,000 yearly will be paid to a sinking fund for these bonds. The
whole amount of bonds heietofore issued was $1,166,000, the holders
o f which have the right to exchange for bonds of the new issue, and
more than half of the holders have assented to the exchange, Gross
earnings in 1886-87 were $77,366; net; $40,203. R. M. Pulsifer, Presi
dent, Boston. (V. 43, p. : 47, 5 7 8 , 607.)
M arqu ette H o u g h to n & O n to n ag on .—(See Map Duluth South
Shore A A .)-O w n s from Marquette, Mich., to Houghton, 113 miles;
branches, 43 miles; total operated, 156 miles. Has a land grant of about
80,000 acres. Business consists largely of transportation of iron ore.
In .Oct., 1886, a controlling interest was purchased by a syndicate in
the interest of the Duluth South Shore & Atlantic RR., with which
comrany a close contract was made under date of April 15,1887, by
which the D. 8. 8. & A. operates this road and agrees to pay the interest
on bonds and six per cent yearly on the prtf. stock as ft stands above.
The report for 1886-7 showed the following: Net income , $427,995.
Disbursements—Interest on debt, $305,552; dividends, $56,467; total
disbursements. $362,019. Balance, surplus, $65,976. (V. 43, p. 547;
V. 44, p. 681; V. 45, p. 142.)
M e m p h is Sc C h arleston .—(See Map o f Last Tennessee Vir
ginia A Georgia).—Owns from Memphis to Stevenson, Ala., 272 miles;
branches—to Somerville 14 miles, to Florence 6 miles; leased, Steven
son to Chattanooga, 40 miles; total operated, 330 miles. This road was
leased June 2,1877, to the East Tennessee Virginia & Georgia Rail
road for twenty years from July 1, 1877, but this lease was vacated
July 1, 19C M
July V, 1021
Aug. i5> Eaa'jr
May 1 , 190ST
Jan. 1 . 189Q
Nov., 1890)
Sept., 1909
Nov. 1, '89-901
July, 188T
May 1,1902-%
Mar. 1, 193k
Sept. 1, 1893
Sept. 1, 1891
1911
1896
July 1 5 ,188T
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 lien 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 in ter-■'Sted in the East Tennessee Virginia & Georgia RR., and in Sept.»,
1885, this and enough more to make a majority was put in the Central,'
Trust Co. for the E. T. V. & G. Co , giving them control.
From July 1 to Sept. 30 in 1887 (3 months), gross earnings were $426,-.
483, against $335,518 in 1886; net. $137,942, against $119,708.
For the year ending June 30,1887. gross earnings were $1,643,513 :
net, $448,022, and in 1885-86 $1,323,529 gross and $386,315 net.
—,(J- i 3’ P- 190>368- 398, 516. 57 8. 671; V. 44, p. 22, 149, 300, 551.
713; V. 45, p. 26. 180, 239, 272, 304, 437, fcl3.)
M exican Central (M ex ico ).—In May, 1887, the mileage was*-*.
Main liue from Mexico City north, to El Paso del Norte 1,225 miles,
106 miles on Tampico Division, 11 miles on Guanajuato Branch, and 1®'
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 general law
of Massachusetts, and by transfer the company holds the charter from
the Mexican Government, granted Deo. 5,1874, for a road from Mexico'.
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 o f
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,
increased to 1 p. et. Jan. 1,1887, and after that 1 per cent every six
months, till July, 1890 the full 8 per cent is reached. 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 of coupons*,
and by an amount of Mex. Gov’t subsidy certificates equal to the prin
cipal and int. of the coupon notes. The total amount of 1st mort. bonds
issued stood in May, 1«87, at $43,670,000, and $2,500,000 of these were,
deposited as collateral for the debenture bonds.
In Dec., 1885, it was proposed to reduce the interest on 1st mortgage,
bonds to 4 ; er cent, with an agreement to pay the remaining 3;
per cent in any year when earned, but not to be cumulative, and
nearly all the bondholders have assented to this arrangement and ex-,
changed their 7 per cent coupons for a sheet of 4 per cents. In July,
1886, and Jan., 1887, all coupons falling due were paid in cash and
^ in assented 1st mortg. bonds in treasury of company. In April, 1887,
cash payments were resumed on the bonds as coupons fell due.
From Jan. 1 to Sept. 30,1887 (9 months), gross earnings were $3,434
219, against $2,690,771 in 1886; net, $1,498,386, 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. 8. money to $1,102,071; subsidy collections in 1886, $58,437. Total subsidy collections,
from the beginning, $3,782,492, equal to $3,237,589 in U. 8. money.
—(V. 43, p. 88,162, 368. 547, 671, 746. 766, 774 ; V. 44, p. 22,149, 211,
246, 275, 308, ?43, 466, 61 9 , 62 5, 681; V. 45, p. 53,113, 437, 613.)
M exican N ation al R a ilro a d (M ex .)—The road was completed,
iron Corpus Christ! to Laredo (Texas Mex. RR.), 161 miles; Laredo to
Saltillo, 236 miles; Matamoros Div., 75 miles; branches, 27 miles; totfl.
Northern Division, 479 miles; City of Mexico to Paszcuaro, 273 miles;
Acambaro to San Miguel, 76 miles; El Salto line, 42 miles; Manzanillo,
to Armeria, 29 miles; branches, 34 miles; total Southern Div., 454 miles;
total road finished, 933 miles, leaving a gap of 370 miles to be com pleted
to connect the Northern and Southern divisions. The Texas-Mexican
belongs to this company and forms part of its line, the Mexican Nat.
owning $1,196,000 of its b nds, and nearly its whole stock of $2,500,000;.
also an interesf in $248,000 of the Corpus C. b’ds. The company received
a subsidy of $11,270 per mile of road, secured by 6 per cent of the
Government receipts from customs. In July, 1885, sub idy payments,
were suspended, but resumed on a graded scale in ’86. See V. 43, p. 103.
In Oct , 1886, a modified plan of reorganization was made, by which,
foreclosure took place May 23, 1887, and a new mortgage at *9,000 per
mile ($12,500,000) was placed on the whole road, most of this to be used
to complete the gap of 370 miles, which is now in process of construc
tion. Bonds of this issue may be redeemed at par and accrued interest.
The second mortgage bonds are incomes, series “ A” being cumula
tive (and the full interest being a charge ahead of series “ B” bonds,
which are non cumulative). Trus: ees of 2d mortgage are J. A. Horsey
and Lyman K. Bass. The stock is $33,350,000, and is placed in trust,
leaving road in control of bondholders until interest has been paid f o r
two consecutive years on both classes of bonds. (See V. 43, p. 598, and
V. 44, Chronicle of March 19,1887, p. V. of advts.)
From Jan. 1 to Sept. 30 in 18»7 (9mos.), gross earnings were $1,283»721. against $l,271,204in 1886; net, $i58 829, against $ 33,710.
—(V. 43, p. 88, 102, 245, 274, 309, 459, 598; V. 44, p. 275, 3 69.401.
681; V. 45, p. 232.)
M ich ig a n C entral.—Line op Road.—Main line—Kensington to
Detroit, 270 miles; and Windsor to Suspension Bridge (Can. So.). 2 26
miles; total main line, 496 miles. Branches owned and leased—Mieh.
Air Line RR., 115; Jol. & No. Ind., 45; Grand River Valley, 84; Jack.
Lan.& Sag., 295; Kal. & So. Hav., 4 0 ; Det. & Bay City, 152; Sag. Bax
7#
INYESTORS’
SUPPLEMENT.
[Voii. XLY.
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal.When Due.
Miles Date Size, or
Amount
Par Outstanding
Kate per When Where Payable, and by Stocks- Last
of
For explanation of column headings, Ac., see notes of
Whom.
Dividend.
Value.
Road.
Bonds
Cent. Payable
on first page of tables.
M ine H ill <t SchuylkiU Hare»—Stock........................
M ineral Range-Stock..................................................
1st mort., coup........................................................
1st mort., gold, on branch and extension............
M inneapolis <&Pacific—-let mortg., $15,000 p. mile
Minneapolis <6 St. L —1st M., Min. to Mérriam Juno.
1st mortgage, Merriam Junction to State Line ..
1st mortg., Minneapolis to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Improv. and equip, m., 1st series, coup.................
Mortgage on Southwestern extension...................
2<L bds., inc., 5 & 10 yrs. (White Bear to Ft. Dodge)
1st mortgage, gold, Pacific Extension..................
Wis. Minn. & Pacific.—1st mortg...........................
M inneapolis Sault Ste. M arie A Atlantic—1st M., g.
M innesota A Northwestern—1st M., g., $16,000 per m
M ississippi A Tennessee—1st mortgage, senes “ A” .
1st mortgage, series “ B ,” (a second lien)..............
1st m., gold, sink, fund, on road and land (U.P.S.Br)
1st mortgage, gold (Tebo. & Neosho).....................
Consolidated mortgage, gold, on road and land ...
2d m., income, exchangeable for geni. m. 5 per ct.
Booneville Bridge bonds, gold, guar............7.........
General consol. M.. gold ($9,230,000 are 5s)..........
East Line & Red River................ ............................
Hannibal A Central Missouri, 1st and 2d mort ...
•Intemat. A Gt. North’n, 1st mort., gold................
do
2d mortgage......................................
do
Colorado Bridge bonds....................
137
17*2
12*2 1873
4*2 1885
1886
1836
261 1886
27 1877
93 1877
15 1877
102 1879
360 1882
53 1880
172 1880
92 1881
205 1884
250 1886
460 1884
100 1877
100 1877
1,441
182 1868
100 1870
786 1871-3
786 1876
1873
1,565 1880-6
1880
70 1870
776 1879
776 1881
1880
....
$50 $4,081,900
3*2
100
400,000
2 *2
198,000
100 Ac.
8
1,000
100,000
5
100,000
500 Ac.
5
250,000
100 Ac.
4
1,000
3*733,000
5
1,000
455,000
7 g.
950.000
500 Ac.
7 g.
1,000
280,000
7 g.
1,000
1,015,000
7 g.
1,000
2,000,000
6
1,000
636,000
7
1,000
500,000
7
1,000
1,382,000
6 g.
1,000
3,080,000
6
1,00a
4,000,000
5 g.
1,000
9,106,000
5 g.
1,000
977,000
8
1,000
1,003,000
8
100 46,405,000
1,000
2,067,000
6 g.
1,000
347,000
7 g.
1,000 14,843,000
7 g.
500 Ac.
756,500
6
1,000
844,000
7 g.
1,000 26,510,000 5 A 6 g.
347,000
6
1,000
667,000
7 g.
1,000
7,954,000
6 g.
500 Ac.
7,054.000
6
....
225,000
7
J. A J. Phila.M.H. A S. H. R.Co.
Q.—J. N. Y., Winslow, L. A Co.
do
do
J. A D.
A. A O. Last paid April, 1887.
J. A J. N. Y., Winslow, L. A Co.
do
do
J. A J.
J. A J. N. Y., Am. Ex. Nat. Bk.
J. A J. N. Y., Bank of No. Am.
do
do
J. A D.
M. A N. N. Y., Cent. Nat. Bank.
J. A D. N. Y., Bank of No. Am.
do
do
J. A J.
J. A D.
do
do
do
do
J. A J.
do
do
A. A O.
A. A O.
do
do
J. A J. London A New York.
J. A J. N.Y., J. G. King’s Sons.
A. A O. N. Y., Harriman A Co.
do
do
J. A J.
July 15, 1887
July 5, 1887
June, 1888
Oct. 1, 1915
Jan. 1, 1916
Oct. 1, 1926
Jan. 1, 1936
Jan. 1, 1907
June 1, 1927
Jan. 1, 1907
June 1, 1909
July 1, 1922
Deo. 1, 1910
1890
April 1, 1921
Oct. 1, 1934
July 1, 1926
July 1, 1934
April 1, 1902
July 1, 1902
J. N.Y., Mercantile Tr. Co.
D.
do
do
A.
do
do
0.
do
do
N.
do
do
D.
do
do
do
do
D.
N.
do
do
N.
do
do
S.
do
do
N.
do
do
Jan., 1899
June, 1903
1904-1906
April 1, 1911
May 1, 1906
Deo. 1, 1920
1900
May 1. 1890
Nov. 1, 1919
1909
1920
J. A
J. A
F. A
A. A
M. A
J. A
J. A
M. A
M. A
M. A
M. A
Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 m iles;
Eland June, to Wausau, 23 miles; Antigo to Maloolm, 11 miles; Monioo
to Rhinelander, 16 miles: Clintonville to Ooonto, 56 miles; branch to
mines, &c., 36 miles; branches to Michigan mines, 4 miles; Watersmeet branch, 5 miles; Ontonagon River branch, 6 miles; total, 577
miles. This company was organized in 1876 as successor to the former
company foreclosed in 1875. Preferred stock has a preference to the
extent of 7 per cent from net earnings. The debentures are convertible
mto stock at par at anytime within ten days after the date fixed for
payment of dividends on common stock. The equipment bonds are
redeemable $30,000 per year at par; the funding notes $100,000 per
year; and the equipments of 1885 at $100,000 per year after 1890 ; the
Ontonagon 1st mortgage $25,000 per year at par.
From January 1 to June 30 in 1887 (6 months) gross earnings were
$1,451,711, against $942.768 in 1886; net, $616,832, against $421,472:
total net ieceipts, $649,131, against $440,205; balance over fixed
charges, $369,879, against $189,769.
The annual report for 1886 was in V. 44, p. 399. Gross receipts in
1885, $1,374,807; net, $430,417; interest and rentals. $366,845. In
1886, gross receipts were $2,353,982; net, $1,031,380; Interest and
rentals, $507,210. (V. 43, p. 162, 274, 334; V. 44, p. 60, 90,185, 275,
308, 343, 3 9 9 , 553 ; V. 45, p. 240.)
M ilw a u k e e A L a k e W in n e b a g o .— Owns from Neenah to
Schleisingerville, Wis. Built in 1882 and leased for 99 years to Wiscon
sin Central at 37*3 per cent of gross earnings as rental; but after
$175,000 per year is received the balance of net earnings is to be equally
divided. The $1,000,000 debentures were authorized to be issued as
required for improvements, and they are convertible on any coupon day
into pref. stock; the lessee pays interest on them till 1894. Pref. stock,
6 per ct. cum., $780,000; com. stock, $520,000; par of shares, $100.
M ilw a u k e e A N orthern—(See Map.)—Owns from Schwartzburg,
Wis., to Champlain, 257 miles; branches—Menasha and Appleton to
Hillbert,Wis., 21 m.; Ellis June, to Menominee, 22 m ; total operated,
300 miles. Uses Chicago M. & St. Paul track, 9 miles, into Milwaukee.
Other lines in progress June, 18S7. See full statement in V. 44, p. 813.
The stock is $4,131,000. From Jan. 1 to June 30, in 1887 (6 mos.) gross
earnings were $441,403; net, $168,919; fixed charges, $96,900; suri Iub, §72,019. Gross earnings in 1886, $646,226; net, $232,085;
fixed charges, *200,961; surplus, $31,124. (V.43, p. 368; V. 44, p. 244,
276, 781, 808. 813; V. 45, p. 53, 613, 672.)
M in e H i ll A S c h u y lk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa., with branches, 137*3 miles. Road was leased
May 12,1864, to the Philadelphia <&Reading Railroad Co. for 999 years
at a rental of $326,552 per year. There is no debt, and 8 per cent divi
dends are paid. Operations are included in lessee’s returns.
M in era l R a n g e .—Houghton, Mich., to Calumet, M ich, 15*2
miles; branch, Franklin Station to Franklin, 2 m iles; total 17*3 miles.
Dividends had been paid from the opening of the road, until the fall
of 1887. In 1886 gross earnings were $81,244; net, $40,522; surplus
$1,850,000
Net earnings.................
$1,484,000 over interest and dividends, $3,922. In 1885, gross earnings, $81,429;
1,230,000 net, $33,538. This road was under the H. S. Ives management, but in
Interest, rentals, & c ............... „ ................. . 1,276,000
August, 1837, anew board was elected, and the coupon of Oct. 1 on
fiorplus.......................
$574,000
$194,000 the extension bonds was passed until an investigation could be had.
47,640
170,000
Canada Southern proportion..........................
(V. 43, p. 132; Y. 45, p. 272, 538.)
M inneapolis A Pacific.—From Minneapolis northwest to Ran
$146,360
Michigan Central proportion.... . . . .......... $404,000
som,
Dakota, 228 miles. Completed Deo., 1886; 7 4 miles further west
Dividend........................................................... (2%) 374,764
in Dakota in progress. Owned in part by capitalists in Minneapolis,
and
income
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:
Davis & Co.; they are limited to $12.500 per mile for road and $2,500
per mile for equipment. Hon. W. D. Washburn, President, Minneapolis,
INCOME ACCOUNT.
Minn. (V. 44, p. 204, 211, 213.)
1883.
1884.
1885.
1886.
R e c e ip ts —
$
$
$
$
M in n ea p o lis A St. L o u is.—Owns main line, Minneapolis to
Net earn ings__ . . . .
4,268,129
2,699,945 2,692,791
3,891,149 Angus,
Iowa, 259 miles; Pacific Division,Hopkins to Morton, 92 miles ;
tnt. and dividends..
67,701
79,858
72,216
45,190 Kalo Branch,
2 miles; Lake Park Branch, 1*3 miles: total operated, 354*2
miles.
Leases trackage from Minneapolis to 8t. Paul over St. Paul A
2,779,803
Total incom e.......
4,335,830
2,765,007
3,936,339 No. Pacific
R
R
.; also owns from Minneapolis to White Bear, 12 miles,
$
Disbursements—
$
$
$
is leased to the St. Paul & Duluth RR.
Rentals p a id .......3,
184,310
184,310
184,310
184,310 which
The
bonds
of
the $1,100,000 mort. (1877), numbered from 1,101 to
2,454,292
2,2494.06
2,482,443
Interest on debt . . .
2,39 ¿,674 1,400, for $500 each
($150,000 in all), are guaranteed by the Bur. Cedar
611,571
20,448
8,679
Can. So (I3 of n e t)..
407,335 Rap. & No. RR. The bonds
on the 15 miles were issued by the Minneapolis
T ota l................. .
3,044,987 2,659,050 2,675,432
2,984,319 & Duluth Railroad before it was absorbed by this company. Preferred
120,753
Surplus for div'ds..,
1,290,843
89,575
952,020 stock of $8,000,000 is authorized and $4,000,000 issued; common stock,
Dividends........
1,124,292
374,764 $9,000,000 authorized and $6,000,000 issued; par of both $100 per
Kate of dividends .
(8)
(2)
share. The projected Southwestern extension runs from Fort Dodge,
Balance............. sur.166,551 sur.120,753 sur.89,575 sur.577,256 fa., towards Kansas City, Mo., 325 miles, with a branch to Council
Bluffs, 140 miles. R. R. Cable, President, Chicago.
The Wis. Minn- & Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
* The balance to credit of income account Deo 31,1886, was $1,494,124,
and Morton to Watertown June., 121 miles, is leased and operated by this
— (V. 43, p. 6,23; Y. 44, p. 6, 22, 5 8 3 ; V. 45, p. 5, 26.)
company, but the M. & St. L. ha s n o 0 Dligation for the bonds. Com. stock,
M id d le to w n U n ion vil le A W a te r G ap.—Owns from Mid $2,055,000; pref., $3,080,000. In 1886 gross earnings of Wise. Minn.
dletown, N. Y., to Unión ville, N. J. State Line, 13 miles. Is controlled & Pac. were *228,186; net. $44.741; surplus over rental of equipment,
by N. Y. Sus. A West, by ownership of stock. In 1886 extended first *30,790. Chas. F. Hatch, President, Minneapolis.
mortgage bonds for 25 years at 5 per cent. Gross earnings in 1885-86
From Jan. 1 to Sept. 31 in 1887 (9 months), gross earnings of the M &
39,.'.90; net, $16,171; def. under interest, &c., $8,931. Gross in 1884 5 St. L. were $1,071,273, against $1,087,670 in 1886; net, $283,992,
38,489; net, $12,791; deficit under interest, &c., $14,303. Stock, against $318.676.
$149,850. (V. 43, p. 162.)
In 1886. gross earnings, $1,549,620; net, *494,700, rentals, Ac., re
M ilw a u k e e L a k e Shore & W e ste r n .—From Milwaukee, Wis., ceived, *95,552; net income. $590,252; deduct rentals, $45,606, and
t o Ashland, Wis. 391 miles, of which 4 miles are leased; branches— interest,$552,810, deficit. $8,163. (V. 44, p. 495; V. 45, p. 303.)
A N o . W., 64; Tol. Can. So. A Det., 56; Can. So. Br. Co., 4 ; Mich. Mid.
A Can., 15; Canada So. branches, 99 : Sarnia Chat. & Erie, 7 ; Erie &
Niagara, 31; total brandies 1,006 miles; total operated, 1,502miles.
There are 121 miles of second track and 569 miles of side tracks.
Organization , L eases, Ac.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The
Detroit & Bay City road was foreclosed Feb. 12, 1881, and pur«h a sed ferth e Michigan Central, which leased it and put a mortgage
o n the road. The other lines described above as leased are all held by
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The land grant came from the Jaokson Lansing A
Saginaw company as stated below.
u i Nov., 1882, a close contract was made with Canada Southern for
working its road by the Michigan Central and for the division ot
net profits over all charges as follows—one-third to Canada South
ern and two-thirds to Michigan Central; but the latter company is
entitled to an increase on this proportion as it diminishes its interest
Charge by payment of bonds or otherwise.
Stocks and B onds—The Michigan Central stock has remained at the
tam e amount since 1873. Prior to 1873 it was a regular 10 per cent
stock. In 1872-73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, ana since then Irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72,10; 1872-73,
$ and 4 in scrip; in 1878, 2 ; in 1879, 3*$; in 1880, 8 ; in 1881, 6*3 ; in
1882, none paid; in 1 883,5; in 1884. 3; in 1885 and 1886, nil.
The range in prices of the stock has been as follows: In 1871,114®
126; in 1872, 113®120; in 1873, 65@111; in 1874, 68*2®95*a; in
4875, 53® 82*4 ; in 1876, 34«>8®65*a; in 1877, 3588®74*4, in 1878,
«8*e® 75; in 1879, 73%®98; in 1880,75® 1301«; in 1881, 84%®120;
In 1882, 77® 105; in 1883. 77®100*a; in 1884, 51V®94*2; in 1885,
46 *3® 79%; in 1886, 61*3®98%; in 1887 to Nov. 18, inclusive, 80®95*3.
The Jackson Lansing & Saginaw debt is assumed by Michigan Central,
which also pays $70,000 per year on the stock of $2,000,000; the pro
ceeds of J. L. & S. lands go to pay bonds, and in 1886 sales amounted
to 8,088 acres for $201,479 (including timber), leaving 304,146 acres
unsold, and land notes on hand, $324,931.
Operations , F inances, &c.—The Mich. Central after 1873 becoming
Stable for heavy obligations on leased lines, the company suspended
dividends. The road on through business is much affected by the com
petition between Chicago ana points eastward, and by the rates on
«through freights. It is operated under a close contract with CanadaSouthern and the earnings of both loads are included in the statistics below.
The compaiative statement for six months ending June 30, June
‘being partially estimated in 1887, is as bilow .
1887.
1886.
Gross earnings................................................. $6,361,000
$5,436,000
Operating expenses and taxes....................... 4,511,000
3,952,000
Per cent of oper. expenses to earnings........
70 9
72-7
Í
N ovem ber,
1887.]
RAILROAD
STOCKS AND
BONDS.
71
r *
LNTESTORS’
SUPPLEMENT.
[Vol. XLV.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered In tbese T a b les.
Bond«—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
When due.
Miles Date Size, or
Amount Rate per When Where Payable and by pal.
Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
M issouri P acific—Stock................................................ 1,483
1st mortgage, gold (Pacific RR. of Mo.)— . . . . . . . . 283
2d mortgage (s. f. $50,000 per annum).................. 283
Real estate (depot) bonds......................................
8d mortgage............................................................... 299
Consol. M., gold, for $30,000,000 (coup, or reg.).. 990
Collateral trust bonds, gold, for $15,000,000.. .c *
Carondelet Branch, 1st mortgage.......................... 151«
Leavenworth Atch. & N. W., 1st mort., guar.......
21
St. Louis & Lexington, 1st mort..............................
80
Ler. &Caney Val.RR. IstM, g,gu.($10,000p.m.)c*
75
Verdigris Vail. Independence <feW.,1 st M.,g., guar.
210
St. L. Iron Mt. & So., 1st mort., coupon................
do
2d M., gold, coup., may be reg............... 310
Ark. Branch, 1st mort., gold, land g r "
99
do
Cairo Ark.& T., 1st, gold, cp.or reg.......
71
do
Cairo & Pulton, 1st, g., on road & land.. 304
do
Gen. consol. Mi (for $32,036,000)___ 1 1165 {
do
do
supplemental, gold 5
do
, g.,guar
■
36
M obile A Dauphin Island—1st mort., gold..............
85
Mobile A Qirard—2d mort., end. by Cent. Ga. R R ..
8d mortg. bonds.........................................................
Mobile A Montg.—Stock................................................. 180
1st mort. bonds by L. & N. RR. Co......................... 179
179
R on d s..........................................................................
528
Mobile A Ohio—Stock ($10,000,000)........................
472
1st mortgage, g o ld ..................... .............................
55
1st mortgage, extension, gold..................................
1st pref. Inc. and s. f debentures, not cumulative
2d
do
do
do
3d
do
do
do
....
4th
do
do
do
$100 $45,000,000
7,000,000
1,000
1868
2,573,000
1 .0 0 0
1871
800,000
1872 500 &o.
3,828,000
1,000
1876
1,000 14,714,000
1880
5,000,000
1,000
1887
245,000
1,000
1873
190,000
1,000
1870
650,000
1880 500 &o
800,000
1,000
1886
750,000
1,000
1886
4,000,000
1,000
1867
6,000,000
1,000
1872
2,500,000
1,000
1870
1,450,000
1,000
1872
7,428,000
1,000
1870
1,000 10,353,000
1881
6,243,000
’81to’ 7 1,000
3,000,000
1,000
1887
1,000
1,500,000
1887
261,000
1,000
1869
800,000
1,000
1877
2,950,800
100
2,689,000
1,000
1881
261,000
1,000
100
5,320,600
7,000,000
1,000
1879
1,000,000
1,000
1883
4,748.000
1879
1,850,000
1879
600,000
1879
900,000
....
1879
M in n e a p o lis Sanlt Ste. M arie Sc A tla n tic .—Road finished from
Minneapolis to Gagen,Wis.,231 m., and west from SaultSte. 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 first mortgage bonds were issued in 1887 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 $2,426,000. W. D. Washburn, Pres., Minneapolis, V. 45, p. 166,
179, 211, 243.
M in n eso ta Sc N orth w estern .—Line of road from St. Paul, Minn.,
to Dubuque Iowa, 253 miles; Chicago, 111., to I. C. Juno., 111., 97 m.; Lyle
Branch, Hayfield to Manley June , 47 m.: Waverly Branch, Sumner, la.,
to Hampton, la., 63 m.; total 460 miles. The Chicago Div. was opened in
Aug., 1887, the 111. Cent, being used between Freeport and Dubuque.
•Under construction, I. C. June, to Portage Curve, 111., 52 miles. In Jan.,
1887, bought the Dubuque & Dakota RR., Waverly, la., to Hampton, 41
miles, and Sumner to Waverly, 23 miles. At Oelwein conneots with the
■Ch. St. Paul & K. City RR., and on Dec. 5,1887. stockholders vote on the
question of a sale of this property to the C. St P. & K. C. The road from
Lyle to Manley June., 20 m., is leased to the Cent. Iowa. The com. stock
Issued is $6,316,700; pref. stock, 7 per cent non-cumulative, $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 large cities and for
bridges over Miss, and Mo. rivers; and $8,000 per mile for double track.
Gross earnings from July 1 to Sept. 30, in 1887 (3 mos.), were $458,180,
«gainst $149,901 in 1886; net, $150,535, against $63,376. For the
year 1886-87 gross earnings were $852,476; net, $245,679; rentals,
■etc.. $21,023; net reoeipis, $266,703; surplus over accrued interest,
#36,532. See annual report for 1886-7 in V. 45, p. 303. A. B. Stickney,
Pres., St. Paul, Minn.—(V. 43, p. 7 2,162, 480, 516, 607; V. 44, p. 204;
V. 45, p. 55,166, 3 0 3 , 642.)
M ississip p i Sc Tennessee.—Owns from Grenada, Miss., to Mem
phis, Tenn., 100 miles. Capital stock, $825,455. Debt was consolidated
•s above in 1877. A majority of stock was sold in May, 1886, to E. H.
Harriman and others identified with the 111. Central RR. There has been
delay at limes in the prompt payment of interest on series “ B ” bonds.
8ee annual report for 1885-6 in Chronicle, V. 43, p. 773.
Gross earnings in 1884-5, $489,549; in 1885-6, $125,718. Operating
expenses in 1884-5, $363,704; in 1885-6, $328,360. NeteamiDgs in
1884-5, $125,845; in 1885-6, $97,358. Deficit for year after paying in
terest $32,555 in 1884-5, against $61,042 in 1885-6. (V. 43, p. 23, 634,
1773, 775; V. 44, p. 211, 212.)
M isso u ri K a n sa s Sc T e x a s.—( See Hap Mo. P ac.)—Line of Road
— Hannibal, Mo., to Denison, Tex., 575 miles; branches, Dallas & Green
ville extension, 54 miles; Parsons, Kan., to Junction City, Kan., 157
Bifles; Denison, Tex., to Taylor, 258 miles; Whitesboro to Henrietta,
Tex., 85 miles; Denison to Mineóla, Tex., 103 miles; Denton, Tex., to
Dallas, Tex., 37 miles; Echo, Tex., to Belton, 7 miles; Trinity to Ogden,
Tex., 66 miles; coal branches, 8 miles; Jefferson, Tex., to McKinney,
Tex., 155 miles; Taylor Houston & Bastrop RR., 34 miles. Total,
1,539 miles. International & Great Northern, from Longview, Texas,
to Galveston, Texas, 282 miles, of which 50 miles leased from G. H. &
H., and Palestine, Texas, to Laredo, Texas, 415 miles; branches—
Houston to Columbia, 50 miles; Phelps to Huntsville, 8 miles; Mineóla
to Troupe, 44 miles; leased—Round Rock to Georgetown, 10 miles;
Henderson to Overton, 16 miles; total operated 825 miles.
Organization, H istory , &c.—The M. K. & T. Company was organized
April, 1870, and embraces by consolidation the Union Pacific Southern
Branch, the Tebo & Neosho and other minor companies. In 1874 the Han
nibal & Central Mo. was purchased. The company made default on its
consolidated bonds in Dec., 1873, ana was operated by a Receiver from
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
o f its property, paying the overdue coupons. The company had a land
grant which has been practically closed ou t; also a grant in the Indian
Territory of 3,622,400 acres subject to the extinguishment of the
Indian title. The Booneville Bridge Company is a separate organiza
tion, and earns interest and proportion for sinking fund.
At a meeting of stockholders May 18,1881, a lease to the Mo. Pac. for
99 years was ratified on terms follow ing: That the lessee operate the
road and pay the obligatory mortgage interest, paying over the balance
t© the Mo Kan. & Texas Co. If there Is a deficit in income the lessee
may advance money to pay interest, or else the Mo. Kan. & Texas can
resume possession of its road.
The International & Great Northern Railroad was acquired by Mo.
Kan. & Tex. in May, 1881, by an exchange of two shares of Missouri
Kansas & Texas stock for one of International & Great Northern,
and the Int. & Gt. N. stock is held in the treasury of the M. K. & T. The
In t & G. N. roads were sold in foreclosure. July 31 and Oct. 14,1879.
Stock and Bonds.—The stock has ranged as follows since 1877»
Viz.: In 1878, 2 ® ?1©: in 1879, 5%®353t; in 1880, 28is®4914; in 1881»
8 4 7g® 54; ha 1882, 263s®42ie; in 1 883,19!2®3478; in 1884, 9 ^ 2314;
in 1885,14Ja®3718;in 1886,218 38*4; in 1887, to Nov. 18, incl., 1 7 «3 4 34The consol, mort. 7s, due 1904-6, had a sinking fund of 1 per cent a
year, beginning in 1874, but the sinking fund not having been carried
out, it was reported in 1887 that bonds for all back years, including
interest, might becalledinfor redemption.
The general consolidated mortgage o f 1880, with supplemental mort
gage in 1886 enlarging the amount to be issued, is at $20,000 per mile
1
6
7
8
7
6
5
6
1
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
New York or London.
N. Y., Mercantile Tr. Co.
do
do
do
do
do
do
do
do
New York Agency.
New York Agency
N. Y., H. B.Hollins & Co.
do
do
N. Y., L. & N. Office.
M. & N.
do
do
Various
N. Y. & Louisville.
Q-—J.
g. F. & A.
J. & J.
M. & N.
M. & N.
g- M. & N.
g. M. & 8
g. A. & O.
A. & O.
F. & A.
g. J. & J.
8- M. & S.
F. & A.
g. M. & N.
g. J. & D.
g. J. & D.
g. J. & J.
g. A. & O.
g. A. & O.
g. J. & J.
g. M. & N.
J. & J.
J. & D.
%
-5
5
5
7
7
7
7
7
5
5
5
6
8
4
3
6
6&8
_
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, 1926
Feb. 1, 1926
Aug. 1, 1892
M a y l, 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
Jane 1, 1897
May. 1887
May 1,1931
1890 & 1900
6 g. J. & D. N.Y. Farmers’ L’n & Tr. Dec. 1, 1927
do
July 1,1927
do
6 g. Q.—Jan
Yearly. Last pd.3i«p.c., Aug.,*85 Redeemable
7
Last pd. 2 p. c. in 1881.
7
only by
7
sinking f’nd.
7
—
1
on 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
& 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
general mortgage bonds. In Sept., 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, $26,510,000. 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 originally reserved to retire prior liens, have been listed ever
since 1881; 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. & G. N. guarantees $2,000,000 of Galveston Houston & Hen
derson 1st mortgage 5 per cent bonds.
The M. K. & T. annual report for 1886, in V. 44, p. 400, had the fol
lowing:
EARNINGS AND EXPENSES.
Earnings from —
Passengers.....................................
Freight.......................... ...............
Mail, express and miscellaneous.
1884.
1885.
1886
$1,691 596 $1,592,713 $1,575,920
5,166,673
4,833,860
5,470,742
427,082
404,982
458,981
Total earnings..........................
Operating expenses......................
$7,317,250 $6,853.655 $7,451,644
4,055,101
4,228,754
4.347,246
Net earnings............................. $2,970,004 $2,798,554 $},222,890
56-74
59-41
59-1
Ratio of expenses to earnings___
IN C O M E A C C O U N T .
1885.
1886.
1884.
Receipts—
Net earnings.................................. $2,970,004 $2,798,554 $3,222,890
189,799
126,453
457,419
Dividends, &c................................
Total net income..................... $3,427,423 $2,988,353 $3,349,343
D is bursements—
Interest on bonds.......................... $2,439,618 $2,439,427 $2,483,363
310,646 *1,502,022
479,661
Taxes, rentals, &c...........................
Total disbursements............... $2,919,279 $2,750,073 $3,985,385
Balance for y e a r ..........................sur.$508.144sur.$238,280def.$636,042
* This includet some adjustment of accounts with the I. & G. N.
—(V. 43. p.162,431, 516, 619, 746, 766; Y. 44, p. 90, 211, 276, 3 6 8 ,
4 0 0 , 495; V. 45, p. 161, 292, 341, 613.
M is s o u r i P a c if ic ,—( See M ap.).—L ine o f R o a d .—Owns main line
from St. Louis, Mo., to Omaha, Neb., 494 miles; branches in Missouri,
348 miles; other lines as follows: Kansas & Colorado Div., 125 miles;
Council Grove Osage City & Ottawa Div., 90 m.; Topeka Saliua & West,
ti’ way, Kan., 70 m.; Sahna Sterling & El Paso Div'.—Geneseo to Hutch
inson, 41 m.; Kan. Neb. & Dak. D iv.—Ft. Scott to Topeka Kan., 130 m.;
Nevada & Minden R’ way, 74 m.; Denver Mem. & At'. Div., 292 m.; St.
Joseph Extension—Atchison, Kan., to St Joseph, Mo., 21m .; Lim olu
Exten. & Neb. Southern, 79 in.; total operated Ni»v., 1887,1,950 miles.
The Ft. Scott Wichita & Western—Ft. Scott to Kiowa, K tu.. and branch,
Eldorado to McPherson, Kan., is 306 miles. The 8t. L. Iron Mountain &
So. mileage in Nov , 1887, was as follows: From St. Louis to Texarkana,
Texas Line, 490 miles; branch lines, Mineral Point, Mo., to Potosi, Mo.,
4 miles; Bismarck, Mo., to Belmont, Mo., 121 miles; Poplar Bluff, Mo.,
to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon Ark., to Camden, Ark.,
34 m iles; Knobel to Helena, 14b m iles; Newport to Cushman, 39
miles; Neelyville to Doniphan, 20 miles; Adenville to Jackson, 16 miles;
Arkansas Valley Div., 113 miles; Warren Branch, 49 miles; total, 1,100
miles.
, , „
_, .
By Dec., 1887, the mileage of Iran Mountain and Mo. Pac. combined
will be as per circular in V. 45, p. 369.
Organization , L eases , <&c .—The Pacific RR. Co. (of Missouri) was
incorporated under charter dated March 12, 1849, and road opened to
Kansas City in October, 1865. The company received a loan from the
State of Missouri. The Pacific Railroad of Mo. was sold in foreclosure
Sept. 6,1876. The present company was a consolidation in Aug., 1880,
embracing the Missouri Pacific and a number of minor roads.
The St. Louis Iron Mountain & Southern stock was taken up with
Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
four shares of Iron Mountain, and the St. Louis & Iron M. stock is
held by Missouri Pacific.
Stock and B onds .—Under the new regime the payment o f dividends
was begun on the present stock in 1880, in which year 1*2 per cent was
paid. Dividends since were as follows* in 1881, 6 ; in 1882, 61* ; in
1883, 7 ; in 1884, 7; in 1885, 7; in 1886, 7.
The 1st mo t. (Pac. of Mo.) bonds are to be extended for 50 years at 4
per cent.
„ . _
The consolidated mortgage above is for $30,000,000—trustees John F .
Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
($15,290,000) is in the hands of trustees to redeem prior bonds as they
fall due.
. . ,,
For the payment for new lines acquired and to be acquired there was
issued in 1886 $10,000,000 of new stock at par to old stockholders, and
another $5,000,000 in 1887. Also the collateral trust bonds (Union
Cy?
°
'^eus
N
M /'J
4
>_v^.
N
E
B
___
N o rfo iK ? FAc;
RNA
S K \A
LjNbrfh Platte
UNCOUJ
Stocktor,
U
j
Silver Citjr^
/
Hastings!
OoaljSlne'fe,
Green gSy
s y ^ o ___ L
Leadvìììe^
vCrestea.Bntte
MAP OF THE
RAILROAD STOCKS AND BONDS.
M-
Boulder!
CRETJU&
¡fi? TAL*
MISSOURI PACIFIC
RAILWAY,
a n d
a l l ie d
■> 0 o Gf
S ilverton,
Wagonc
. /«Á te
W heel
/Thatcher
.
l in e s
lI
Va
Dinàfl
H
K Sap li
M18ne!>¿
^-çorh .
a
^ ^ eea iee
AoW
V#*»
¿ PRESCOtt
amjL,
o’«'9.
¿Albuquerque
i
°JFt3s(seom
f ;*)0
N A
N
E
w s ii M
E x
I )c
O
Quanah
p u eb lo Springs ^ — J iS o c c r r o
f *
A-W*1
it**
H1»
S./nto^°^°CarthaSe
"G0/i
Llano! Estacado
<3ila S.-,
% %
„Casa (
s ?
..
Rincon
í >
<
tí
<5\
Natchez
1 Pa8Qidel^ott /
Nogales
r1
\
1
N o v e m b e r , 1887.]
Querobabi
vM
I*
E
"beP*
V
/
//
%
Carmen
Magdalena
NX
3enson I
AUSTN
TCyleh
SAN M A R C O SpU *"*"
Ì
San Antonio^
IX
j C H I
I
/P r e s id io '
del Norte
h\
U A\ H U
C
A
—j
Cuero,,
/E d e n
/_.■»_
TJ. ,
w __ vdEagleVPass
Piedras Negras
\
W
Victoria!
# c i b o la
M
c h ih u a h u a
7 E n cin a l
T
££i
' tÇÏ- M
----
■
mdianola^
vBATC N
\ rouc
Pensacola Jc-__
Ai
"7 4
INVESTORS’
SUPPLEMENT.
[VòL. XLV.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Slocks—Last
Where
Payable,
and
by
When
Rate per
Par
oi
BV>r explanation of oolumn headings, &o., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds. Value.
on first page of tables.
$1,560,000
J. & J. N.Y., Nat. City Bank. July 1. 1909
6
1926
New York.
675.000
6 g. M. A N.
Boston.
(1)
800.000
2
Deo.,
1884
5.000.
000
April 1, 1918
A. & O. N. Y., So. Pac. Co.
5.000.
000 7
1,000
Ì 02 1878
July
1,
1920
do
do
1.477.000
1,000
157 1880
6 g- J. & J.
3 ^ J. & J. N. Y., Del., Lack A W. July 1, 1887
50 15,000,000
132
M a y l, 1914
do
do
M & N.
5.000.
000 7
84 1864 500 Ac.
Aug. 1, 1891
do
do
F. & A.
2.999.000
7
84 1866 500 Ac.
Jan. 1, 1900
do
do
J. & J.
284.000
7
Var’us 1,000
do
do
Oct., 1901
4.991.000
A. & O.
1,000
7
34 1871
* 1st on Boonton Br. Ac. (guar. D.L.&W.j
June 1,1915
do
do
J. & D.
6.557.000
7
1,000
Consol, mort, (for $25,000,000) guar. D. L. & W .. 137 1875
7
1.025.000
412&5 J. & J. N. Y.. Del. Lack. A W. July 1, 1912
2.220.000
1,000
1882
Real estate terminal mort.“ (guar. D. L. & W).......
Nov. 1. 1887
M. & N. 2d Nat. Bk., Nashua.
800.000
100
Ï5
do
do
1893 A 1900
300.000 *6 & 5 g. F. & A.
’73-’80
” Bonds ($100,Ô00 are gold 5s, J. & J., 1900)....... c *
New
York
A
Nashville.
Oct.
10, 1887
1
6,668,531
"2 5
600
J. & J. N.Y., Continental N.Bk. July 1, 1913
6.300.000
1,000
7
340 1873
July
1, 1901
do
do
J. & J.
1.000.
000 6
1,000
321 1881
June 1, 1891
do
do
J. & D.
4
500.000
Jan.
1,
1917
do
do
J. & J.
1,000
480.000
6
St. L.,”ls t M. on Fayette. & MeM. branenes 101 1877
Jan. 1, 1)17
do
do
J. & J.
1,000
300.000
6
30 1877
1907
A
1923
do
do
J. & J.
1,000
173.000
6*8
13 1877
Jan. 1, 1923
do
do
J. & J.
376.000
1,000
6
47 1882
1909
do
do
J, & J.
500.000
1,000
6
20 1887
Nov. 1, 1909
do
do
M. & N.
71,000
1,000
6
48 1881
June 6, 1887
Nashville.
J. & D.
1,642,557
3
Nashville <t Decatur—Stock, guar’d 6 p. o. by L. & N. 122
July 1, 1900
J. A J. N. Y., 50 Exoh. Place
1,000
1.900.000
7
119 1870
1885
N. Y. Bank of America.
174,400
10
99
July
3, 1887
New
Haven,
Ct.,
Treas.
J.
&
J.
100
2,000,000
5
66
June 1. 1913
do
do
150.000
4
J. A D
61 1833 l.OOOAc
Sept.
1,
1887
Philadelphia,
Co.’s
office
21* M. A S.
50
1.400.000
18
1,000
750.000
6 g. A. A O. Last paid April, 1884 Oct. 1, 1904
94 1879
N evada Central—1st mort., gold (sink, f., $20,000)
Trust Co. of N, Y.,Trustee) secured toy mortgage toonds of new railroads Ardesia, Miss., to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen
•at *12,000 or $15,000 per mile. The Leroy & Caney Valley Railroad, in Miss., 9 miles ; total owned, 527 miles ; total operated, 688 miles. In
Kansas. 80 miles, is leased and bonds guaranteed by Missouri Pacific July, 1885, the gauge was changed to standard, 4 feet 8*2 inohes. In
Dec., 1885, the lease of the St. Louis A Cairo RR. (161 miles) was taken
a s also the Verdigris Valley Independence A Western.
O per ation s , F inances , Ac.—The earnings and income aecount below for 45 vears at a rental guaranteed to amount to $165,000 per year.
A default was made May 1, 1874, and two trustees and receivers took
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 possession May 8,1875, and the company was reorganized without fore
Missouri Kansas A Texas, the operations of all the roads have been 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
&ept separate and are so reported.
The annual report of Mo. Pacific for 1886 was published in the Chron the stockholders’ meetings upon the majority of the stock of the Mobile &
•xcle , V. 44, p. 368. The earnings, income account and balance sheet, Ohio Railroad Company, thepower to vote upon which is irrevocably
with the Farmers’ Loan A Trust Company, until the extinguishment
have been as follows:
of said debentures. The capital stock authorized by the charter is
EARNINGS AND EXPENSES.
*10,000,000, or 100,000 shares of $100 each, of which there have been
Earning*—
1884.
1885.
1886.
issued
53,206 shares. The debentures are secured by a deed of trust of the
Passengers ................................... $2,043,457 $2,004,578 $2,020,597
F reight.............................................. 6,047,339
5,153,025 5,518,296 land, about 1,143222 acres, and receive 7 per cent, if earned. June 30,
1887,
there
were in the sinking fund $552,000 of the first debentures
Mail express and miscellaneous...
686,832
785,959 1,106,127
The Car Trust debt is $532,000.
In August, 1881, 7 per cent was declared on 1st preferred incomes
Total earnings...........................$8,777,628
$7,943,562 $8,645,020
4,492,877
4,338,319 5,238,723 and 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
»Operating expenses.......... ..........
(irst preferred incomes ; in 1883,3 per cent ; in 1884, 5 per cent in
Net earnings...............................$4,284,751 $3,605,243 $3,406,297 1885, 3Lj per cent.
Fiscal year ends June 30 ; the report for 1886-87 was in the Ch roni
INCOME ACCOUNT.
cle, V. 45, D. 640.
Receipts—
1884.
1885.
1886
INCOME ACCOUNT.
N etearnings...................................... $4,284,750 $3,605,243 $3,406,297
JDividends, A c...................................
206,822
792,835 1,360,832
1835-86
1886-87.
1883-84.
1884-85
663
527
527
527
Total net income.................... $4,.91,572 $4,398,078 $4,767,129 Total miles operated.
Gross earnings...........$2,278,917 $2,101,025 $1,962,329 $2,431,381
Disbursements.
$1,875,470 Net income................. $731,450
$637,713
$547,726
'Interest on bonds.......................... $1,798,200
$524,$39
Dividends p a id ..... . . . . . . . . . . . . .
2,098,105
Disbursements—
3,185,762 Int. on mort. bonds__ $ 71,200
$481,600
$480,800
$482,400
Bate of dividend............................
7
T axes, rentals, A c.........................
775,036
Interest on incomes..
265,000
128,863
38,636
Rent to C. A St. L ....
............
..........
26,730
Total disbursements................. $4,071,341 $4,489,575 $5,061,232 Miscellaneous.................................
............
»Balancefcr year___ ___ . . . . . . . def.$179,769 def.$91,497 def.$294,103
BT. Louis I ron Mountain A Southern.—This company defaulted on
Total disbursem’ts $736,200
$482,400
$520,236
$636,393
¿it» Interest in 1875 and flnallv made a compromise with its bondholders. B a la n ce!..,............... Def. $4,750 Bur. $42,4c9 Sur. $27,490 Sur. $1,320
"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.
M on tgom ery Sc ^E u fa u la .—Montgomery to Eufaula, Ala., 80
The Mercantile Trust Co., of New York, is trustee of the general miles. 'A c road was foreclosed May 1,1879, bought by W. M. Wadley,
-consol, mortgage. The stock is nearly all held in the treasury of the aud the present oompanv organized.
Operated under contract by
Missouri Pacific Railway Co., having been retired in May, 1881, by the Cent. RR. of Georgia. Stock is $620,000. Dividend of 10 per cent paid
issue of three shares of Mo. Pac. stock for four of 8t. Louis A Iron in April. 1883.
i'
_
,
..
.
ypiintnin. The sales of land in Arkansas on which the Cairo A Fulton
M on tgom ery Sc F lo r id a .-O w n s from Montgomery, Ala., to
bonds have a lien are given in the report for 1886 as 44,184 acres Live O ik, 45 miles, and in progress towards Chattahoochie, 1 la. This
a t $2-88 per acre. Lands yet unsold, 886,157 acres.
was formerly the Montgomery Southern road, and was foreclosed in
l i e report for 1886 was published in the Chronicle, V. 44, p. 368 Mav, 1886, and reorganized. C. W. Scofield, President, 44 Broadway.
.400, and the income account was as follows:
M on tp elier Sc W e lls R iv e r .—Owns from Montpelier to Wells
INCOME ACCOUNT.
River, Vt., 38 miles. Reorganized January, 1877. D. R. SortweU,
Receipts—
1884.
1885.
1886.
President, East Cambridge, Mass. Gross earnings in 1884-5. $92,814;
Net earnings.....................................$3,464,599 $3,619,416 $3,443,281 net, $17,774. Gross in 1885-6, $94,747; net, $8,262. Gross in 1886-7,
44,727
44,741
159,800 $95,112; deficit under expenses, $469. (V. 44, p. 717.)
Other receipts...................................
M o rga n ’ s L o u isia n a Sc T ex a s R a ilro a d Sc Steam ship C o . Total net income......................... $3,509,326. $3,664,157 $3,603,081 (See Map o f So. Pac. Co —The road owned is from New Orleans to Chenew ille, 204 miles; branches, 55 m.; Cheneyville to Alexandria (under
•interest on b o n d s............................. $2,206,854 $2,215,304 $2,214,131 track agreement), 24 m.; total, 283 miles. In Feb., 1883, the stock was
Taxes, br’ge, and car e x p .,A o ..... . 554,093
397,522
350,144 sold to the South. Pac. parties, and the South. Pac. Company held (Dec. 31,
Total disbursements.................. .$2,760,947 $2,612,826 $2,564,275 1885) $4,062,700 out of the whole stock of, $5,000,000. This company’s
Borplus for year................................ $748,379 $1,051,331 $1,038,806 property consisted of seventeen iron steamships plying between New
— (V 44. p. 212, 244, 343, 3 6 8 , 370, 3 9 9 , 621, 681, 808 ; V. 45, p. 240, York and New Orleans and between Gulf ports, also wharves, ware
houses, and terminal facilities, besides the capital stock of rariroad and
243, 869, 373, 538, 613, 642, 672.)
M ob ile Sc B irm in g h a m . ~(Sie Map East Tenn. Ya. <6 Ga.)— other companies, including a majority interest in the capital stock of the
M obile to Marion June., Ala., on the East Tenn Va. A Ga. road, about Houston & Texas Central Railway Co., Ac. There are also $251,JL6-5 miles, in course of construction and about completed. Abstract 716 of old New Orleans Opelousas & G. W. bonds due 1889, assumed
bv this company. In 1886 gross earnings were $4,138,525; net, $1,059,•of mortgage V. 45, p. 274. (V. 44, p. 681, 701; V. 45, p. 274.)
m o b ile * D au p h in Isla n d R R . Sc H a rb o r Co.—From Mobile 5i8. In 1885 gross earnings were $4,232,018; net, $ l ,602,476. From
t o Dauphin Island, Ala., 36 miles. This road is intended to form an out Tan 1 to Sent. 30, 1887 (9 months), gross earnings were $2,954.828,
le t at deep water on the Gulf of Mexico for the railroads centering at against $2,8^ 9,017 in 1886; net, $568,700, agains? $620,108. (V. 44,
JCobile. Stock is $1,500,000. Robert Sewell, N. Y., President.
m o b ile Sc G irard .—Owns from Columbus, Ga., to Troy, Ala., 84 P M o r r is 4* E s s e x .-(S e e M p o f Del. L. & F .-O w n s from Hoboken, N.
■nilah Common stock, $985,415; preferred stock, $278,967, and $3,980 J to PUillipsburg, N. J., 84 miles; branch, Denville, N. J., via Morris A
Fike County stock. From June 1,1886, this road was leased to the Essex Tunnel, to Hoboken, N. J., 34 m.; leased Dover to Chester, 10 m.;
Central of Georgia for 99 years at a guaranteed dividend of Us per Newark & Bloom. RR., 4 m.; total operated, 132 miles. In 1868 this road
«ent per anuum. The 8 per cents may be exchanged lor 6s or will be was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume
maid off. There are $19,000 3d mort. 6 per cents, due 1897. I n ’85-86, ail liabilities of the Mor. A Essex RR. and pay 7 per cent per annum on
the capital stock, and they also agreed to pay 8 per cent in case the
y m «a earnings, $217,757; net, $59,185. (V. 43, p. 103,398.)
m o b ile Sc M on tgom ery—(¿See map Louisville <6 Nashville) — Morris & Essex earns 10 per cent on its stock in any one year alter tiie
Owns from Montgomery, Ala., to Mobile, Ala., 180 miles. The vear 1874« The Morris & Essex is important to the Delaware Lacka
« Id road was; 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
toy the Louisv. & Nashv. RR. Co., which now operates it. The old mort. (•.hft’lesse ecompanv after the payment of rental. The loss to lessee wag
debt outstanding is about $230,000. The Louisville & Nashville Co. t o ’ 8 o !$ l!o i“ 41^yin ’ 8 1 ,$9 8 5 i9 0 ; in ’ 82.$941.550;in ’83 $1 104 218;
fe«j> 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.)
N ashua Sc L o w e ll.—Owns from Lowell, Mass., to Nashua, N. H.
«sre pledged for the collateral trust bonds of that company. Gross earn
ings in 1885-6, $1,032,936; net, $246,011; int. and taxes, $212,643* 15 miles. On Oct. 1,1880, a lease for 99 years to the Boston & Lowell
was made. rn 1837 lease was transferred to B oston * Maine RR.Co.,
inrpb's, $33,367.
m ob ile Sc O b io .—(See Map.)—Owns from Mobile, Ala., to Columbus which pays a rental of $73,000 (9 per cent on stoik). The funded debt of
-Ky., 472 miles, and extension (by Ken. A Tenn. RR.) to Cairo, 21 m* $300,000, principal and interest, is assumed by the lessee, and the lessor
leases St. L. A C. RR., Cairo to St. Louis, 152 miles, and track to Mil 1- holds the lessee’s notes for the same amount—$300,00Q. (V. 45,
N ash ville C h attan ooga * St. L o u is.—(See Map o f Louisville &
(Stadt. 9 miles; branches—Artesia, Miss, to Columbus Miss., 14 miles*
81
45
38
1879
1886
$ ....
1,000
50
N ovem ber,
1887.]
RAILROAD STOCKS
AM
ROM S,
75
176
INVESTORS*
SUPPLE MENT.
[ V o l . XLV.
Subscribers w i l l confer a great fa v or by g iv in g im m ediate n otice o f any error discovered in these T a b les.
«ori a*—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
For explanation of column headings, «fee., see notes
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
5 1871
Newark A Hudson—1st mortgage...............................
44 1869
N ew ark Somerset A Straitsv., O—1st mortgage.......
1877
NewburgDutchess A Connecticut—Inoome bonds...
12 1868
Newburg A New York—1st mortgage.........................
15
New Castle A Beaver Valley—Stock............................
13 68&70
New Haven A Derby—1st & 2d mortgages.................
N ew Haven A Northampton—Stock............................. 170
92
1869
Mortgage bonds, coupon..........................................
17 1870
Holyoke & W.Jeased. 1st M.($200,000 guar.)........
1879
Consol, sink, fund $15,000 per yr. & mort. bonds.
27 1881
Northern Extension............................- .....................
1886
Bonds convertible into stock.................................
1886
New Jersey Junction—1st mortg., g u a r ..............c&r
36 1880
New Jersey A New York—1st mort. (reorganization;
■N J. Southern—1st mort. (int. guar, by N.Y.& L.B.;
78 1879
1869
.Long Branch & Sea Shore, 1st mort., guar............
Sew London Northern—S tock..................................... 121
2d mortgage............................... ............. ............c* 100 1872
Consol, mortgage ($300,000 are 4s)....................c * 121 1880
N ew port News A Mississippi Valley—Stock...............
68 1886
■New Orleans A Oulf—1st consol, m ort, gold........ c*
1885
N ew Orleans A Northeastern—Prior lien mort., gold.
iN ew York Brooklyn A Man. Beach—Stock, common.
20
20
Stock, preferred........................................................
14 1877
N. Y. & Man. Beach RR.. 1st mortgage.............. c
All. 1885
N.Y. B.&M.B., 1st consol, mort., gold................ c
1874
150
N . Y. A Oanadar-1st M., ster., guar. D.& H. C a n ..c'
*New York Central A Hudson River—Stock............... 1,443
1853
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83..
840 1873
840 1873
K mortgage3 :.’ ] ^ O O O .S x ) \ couPon or
1884
Debenture bonds (for $10,000,000),coup, or reg.
$250,000
7
800,000
7 g.
1,164,500
250,000
7
1,000
700,000
6
50
525,000
7
500 Ac.
2,460,000
3
100
1,300,000
7
1,000
260,000
1,000
6 &7
1,000
1,200,000
6
700,000
1,000
5
1,000
700,000
5
1,000
3,000,000
4
500&C.
400,000 m 6
600
1,449,600
6
200.000
1,000
7
100
1,500,000
Hfl
387,500
500 &c.
7
1,000
1,112,000
4 &5
100
11,660,000
1,000
900,000
6 g.
1,000
1,372,000
6 g350,000
650,000
2*3
500,000
500 &c.
7
1,000.
798,000
5 g4,000,000
JlOO&c
6 g.
100 89,428,300
1
6,450,000
500 &c.
5
1,000 30,000,000
7
1,000
9,733,333
6 g.
l,000&c
7,850,000
5
$1,000
500 &c.
N .Y .L .E .& W . RR.
M. & 8.
M. & N. N. Y., Union Trust Co.
.
J. & J. N.Y.,Office N.Y.L.E.&W
Newcastle, Penn.
Q .-J .
Various N. Haven, Mech. Bank.
New Haven.
do
do
J. & J.
N.Hav.,N.Tradesm’s
Bk
A. & 0.
do
do
A. & O.
do
do
A. & O.
do
do
J. & J.
New York Agency.
F. & A.
M. & N. N.Y., Mercantile Tr. Co.
J. & J. N. Y., 119 Liberty St.
New York.
J. & D.
New London, Office.
Q .-J .
J. & D. N. Y., B’k of N. America
do
do
J. & J.
Sept., 1901
Nov. 1. 1889
June 1,1977
J a n .1, 1889
Oct. 2, 1887
1888 & 1900
Oct., 1873
Jan., 1899
Apr.l ’91 & ’98
April, 1, 1909
April, 1911
July 1, 1896
Feb. 1, 1986
May 1, 1910
July 15, 1899
Dec. 1, 1899
Oct., 1887
July, 1892
July, 1910
Nov. 1, 1926
M. & N. New York, Agency.
A. & 0. N.Y.jFarm. L. & Tr. Co. Nov. 1, 1915
J. & J.
A. & O.
M. & N.
Q .-J .
M. & N.
J. & J
J. & J.
tf. & S.
N. Y., Corbin Bank’g Co
.
do
do
London, Baring Bros.
N.Y., Gr. Central Depot.
do
do
do
do
New York and London.
N.Y., Gr. Centr'l Depot.
1885-86
Jan. 1, 1897
Oct. 1, 1935
May 1,1904
Oct. 15,1887
May 1,1893
Jan. 1, 1903
Jan. 1, 1903
Sept. 1, 1904
N esquehontng V a lle y .—Owns from Nesquehoning Junction, Pa. ,
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford,
Pa., 1 mile; total operated, 18 miles. Opened in 1870, and was leased
for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of
$130,000 per annum. In Se p t- 1884. the lease was modified so as to
pay 5 per cent a year only, and the stock has been extended for 20
years, with a guarantee of 5 per cent per annum.
Nevada C entral.—(See Map Union Pacific.)—Battle Mountain to
Austin, 93 miles. Stock, $1,000,000. There ar i $250,000 8 per cent
income bonds due 1905, which are held by the Union Pacific, as also
$:;59,500 of the stock. Default was made Oct. 1,1884, on the bonded
interest, receiver appointed Feb., 1885, and road sold June 21, 1837. Re
organization pending. N. Y. Committee. Messrs. D. B. Hatch, el al
From Jan. 1 to Aug. 31 in 1887 (8 m is ), gross earnings were
$52,689, against $38,584; net, $19,348, against $5,576. Gross earnings
EA R N IN G S A N D E X P E N S E S .
in 1885, $68,062; net, $$2,879; deficit under interest, &e., $42,120.
1886-87. Gross in 1886, $57,759; deficit, $2,o24; deficit under interest, $47,624.
1885-86.
1883-84.
1884 85.
- ( V . 44, p. 781; V. 45, p. 672.)
$
$
$
Earnings—
$
725,961
6041820
649,737
663,618
a?.issenger..........................
N ew ark Sc H u d so n .—Owns from Bergen Junction to Newark,
Freight ............................. 1,559,765 1,435,878 1,429,468 1,894.715 N. J., 6 miles. Leased to New York Lake Erie & Western at a rental
153,572
153,821
155,104
148,703
H ail, express, rents. &o..
of $33,000 per annum, which pays interest on bonds and 7 per oent
on the stock of $250,000. Earnings in 1836, $65,513 gross and $L7,818
2,372,086 2,240,719 2,188,109 2,774,248 net.
Total gross earnings—
Cortlandt Parker, President, Newark, N. J.
SDotal operating expenses. l,3o3,446 1,304,002 1,322,858 1,578,611
N ew ark Som erset Sc S tra ltsv llle .—Owns from Newark, O., to
865,251 1,195,637 Shawnee, O., 44 miles. Road was completedin 1871. Leased to Sandusky
936,717
Net earnings............... 1,068,640
Mansf. & Newark for 14 years from Jan. 1,1872. Operated by the Balt.
1NCOUE ACCOUNT.
& Ohio, which pays 30 per cent of gross earnings, and advances any
1886-87. additional
1885-86.
1883-84. 1884-85.
amount necessary to meet the interest on the debt. Capital
$
$
Net Receipts—
$
$
stock,
common, $795,400, and preferred, $218,200. Gross earnings in
865,251 1,195,637 1882-83,
936,717
B e t earnings..................... 1,068,640
$164,781;
net, $19,511; loss to lessee, $29,922. In 1883-84,
13,445
29,072
11,947
tttiscellaneous receipts...
............
gross $168,532; net, $757; loss to lessee, $49,802. In 1884-85, gross,
$118,430;
deficit.
$29,102;
loss to lessee, $64,631. In 1885-86, gross,
948,664
865,251 1,209,082 $214,291; net, $35,208.
Total in com e............. 1,097,712
$
Disbursements—
$
$
$
N
ew
bu
rg
D
u
tch
e
s*
Sc
C
on n ecticu t.—Owns from Dutchess Juno675,096
709,834
662,320
682,273
in terest on debt & taxes.
266,741 N. Y., to Millerton, N. Y., 59 miles. The Dutchess & Col. RR. was sold
266,802
Aug.
5.1876,
and
this
company
was organized Jan. 8,1877, by the pur
45,221
119,480
106,077
58,401
¡¡improvements..................
chasing bondholders. In addition to above incomes, there are $150,000
1st
mort.
7s,
due
in
1907.
In
1884-85, gross earnings $131,923;
720,317 1,096,055
740,674
Total disbursements. 1,035,199
144,934 ■ 113,027 net, $13,864; deficit under interest, &c., $2,511. In 1885-86, gross,
207,990
62,513
■Balance, surplus...............
$143,418;
net,
$28,276.
The
common
stock is $172,000 and preferred
GENERAL BALANCE AT END OP EACH FISCAL YEAR.
stock $715,350. John 8. Schultze, President, Matteawan, N. Y.
1884-85.
1885-86.
1883-84.
1886-87.
N ew bu rg Sc N ew Y o r k .—Owns from Vail’s Gate Junction to
WA ssets—
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
81,322
69,421
75,758
562,727
. Assets not available— ..
481,314
478,714
479,663 now by New York Lake Erie & Western. Has no stock.
462,940
i n v ’tm’ts in st’ks & bonds
N ew Castle Sc B eaver V a lle y .—Owns from Homewood, Pa., to
18,132
19,067
37,647
8,722
B ills receivable.................
62,461
67,961
80,364
54,129 New Castle, Pa., 15 miles. Road in operation since 1860. Leased to
B eal estate.........................
277,372
250,436
294,8 4 Pittsb. Ft. W- & Chic. RR. for 99 years at a rental of 40 per cent on gross
188,919
264,408
311,088
375,211 earnings. Lease transferred to Pennsylvania Company. There is no debt.
300,217
•«Cash...........................
In 1879,13 per cent dividends were pa id; in 1880,13 p. o .; in 1881, 24
T ota l........................... 17,920,544 18,108,314 18, 324,836 18,823,520 p. c.; in 1882,14 p. c.; in 1883, 29 p. c; in 1884,19 p. c.; in 1885,10 p. o.;
in 1386, 6 p. c. Gross earnings in 1885, $171,682; rental received, $68,$
$
Inabilities —
■«Capital stock................... 6,670,331 6, 668, 363 6,,668,362 6 6 8,531 672; gross in 1886, $207,214; rental received, $82,855.
N ew H a v en Sc D erby.—Owns from New Haven, Conn., to Ansonia,
B on ded d e b t................... 8,903,000 8,998, ,000 9,,200,000 9,207,000
288,047
467, ,268
591,499
604,402 Co in., 13 miles. Capital stock is $446,600, of which New Haven city
B ills payable.....................
31,092
42, 947
61,299 owns $200,000. New Haven City guarantees the $225,000 second
97,348
IBal’ce due individ’ls, &o.
296,905
290 ,905
287,970
297,650 mortgage bonds, and has a claim o f about $300,000 for money ad
U at’st coupons due July 1
21,942
17,048
83,483 vanced? Negotiations have been pending between the company and the
18, 323
SDivide ads. ......................
72 ,721
85,152
97,124 oitv for an adjustment. Gross earnings in 1884-5, $150,737; net,
75,490
Bay-rolls, &c....................
,600
153
153,600
153,600
$63,792. In 1885-86, gross, $162,678; net, $63,903. (V. 45, p. 84.)
Hiit’st on b’ds held by U. S.
3,686
15 ,119
13,616
834
^Miscellaneous...................
N ew H a v en Sc N orth a m p ton .—Operated from New Haven,
sPnoflt and loss.......... ....... 1,115,678 1,381 ,068 1,,571,014 1,803,117 Conn., to North Adams, Mass., 123 miles; branches—Northampton to
Williamsburg, 8 miles; r arnnngton Conn., to New Hartford,Conn., 14
-T o ta l.........................17,920,54418,108,314 18,324,836 18,523,520 miles •South Deerfield to Turner’s Falls, 10 miles; to Tariffville, Conn.,
__(V 44, p. 118, 244, 370, 527, 653, 781; V. 45, p. 113, 2 3 9 , 240, 369 1 mile; leased—Holyoke & Westfield RR., 14 miles; total, 170 miles.
In April, 1881, a controlling interest in the stock was sold to New York
4 0 1 ,4 3 6 ,5 3 9 , 672.)
N a ih v ille Sc D ecatu r.—(See Map Louisville A Nashville.)—Owns New Haven & Hartford parties, and in June, 1887, the road was leased
for
99 years to the N. Y. N. H. & H. at 1 per oent on stock in 1887-88,
•from Nashville, Tenu., to Decatur, Ala., 122 miles. The road was
le a s e d May 4, 1871, to the Louisv. & Nashv. RR. for 30 years from risinff to 4 per cent by 1889, and thereafter remaining at 4 per cent. In
1885-6,
gross income, $812,509; net, $292,218; surplus, $10,384. (V.
-July 1,1872, at a rental of 6 per cent per annum on the stock. The
« e s e e assumed all the debt o f the Nashville & Decatur Co. In 1885-86 43. p. 132; V. 45, p. 13.)
N ew Jer *ey J u action —Terminal road through Jersey City, Ho
cro ss earnings, $9*9,468; net, $399,670; int., taxes and dividends
^885,584; sur., $114.086. In 1834-85 gross, $1,061,956; net, $466, 168 boken and Weehawken, connecting the trunk lines terminating at those
K a tc h ez J a ck so n Sc C o lu m b u s.—Owns completed road from points. Leased for 100 years from June 30,1886, to the N. Y. Central
Sfatehez, Miss., to Jackson, Miss., 100 miles. Stock, $2,260,809. New & H R RR. Co., whioh company guarantees the bonds absolutely and
•7 pgr cent bonds for $600,000 authorized but very few issued; also a owns the stock ($100,000) of the company. The mortgage is for
n e w mortgage at 6 per cent, $12,500 per mile, has been executed to $4,000,000. (V. 44, p. 781.)
N ew Jersey Sc N ew Y o r k .—Owns from Erie Junction, N. J., to
uetire all prior lie ns and provide for future requirements, but none yet
iesued. The $174,000 are held for the company by a New York house, 3tony 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.
•4^184,326; net, $45,634. Earnings for 1885, $194,353; net, $60,923.
ffa u g a tu c k .—Owns from Naugatuck Junction to Winsted, Conn., Stock outstanding, $1,440,800 common; $787,800 preferred. Control
miles ; leased. Watertown & Waterbury RR., 4*2 miles ; total oper of road is with preferred stock and first mortgage bonds till 6 per cent
a te d , 66 miles, 5 miles of N. Y. N. H. & H. being used between Nauga dividends have been paid on preferred stock for three years. There are
•taaek Junction and Bridgeport. Leased for 99 years from April 1, 188 ”, also $56,000 ee-oud mortgage 5 t er cent bonds d e Jan. 1,1986. Gross
t o N . Y N. H. & H. at $200,000 per year. In 1885-86, gross, $704,336: earnings in 18b6, $185,406; expenses, $139,753; net earnings, $45,6o3.
V. L. Lary, President. (V. 43, p. 215, 597, 753; V. 44, p. 621.)
■■met, $221,522. (Y. 43, p. 718.)
N ashv.)—Owns from Chattanooga Tenn., to Hickman, Ky., 321 miles;
^branches—Wartrace, Tenn., to Shelbyville, Tenn., 8 m.; Bridgeport, Ala.,
Inman, Tenn., 25 m.; proprietary lines—Nashv. to Lebanon, 30 m.;
McMinnville Branch, 61 m.; Deoherdto Fayetteville, 40 m.; Centreville
•Branch, 47 m.: Tracy City Branch, 20 m.; Duck River RR. (leased), 48
znTtotal, 6 0 0 miles.
»
A majority of the stock ($3,385,000) is owned by the Louisville <&
Bashviile RR. Company and pledged among the collaterals for the
^rust loan of that comoanv.
The company in Oct., 1886, resumed dividends at the rate of 1 per
-«cut quarterly.
,
■
From July 1 to Oct. 31 in 1887 (4 mos.), gross earnings were $1,066* 3 0 , against $876,255 in 1886; net, $490,050, against $365,009; sur
p lu s over interest, taxes and improvements, $191,664, against $108,422.
Fiscalyear ends June 30. The report for 1886-87 was in V. 45, p. 4b6.
N ovember, 1887. |
7T
RAILROAD STOCKS A ^ D BUXDS,
Subscribers w ill eonfer a great favor by giv in g im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi
INTEREST
DESCRIPTION.
pal,When Dne.
Miles Date 8ize, or
Amount Rate per When Where Payable, and by Stocks—Last
of
of
Par Outstanding
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
on first page of tables.
N. Y. Chicago A St. Louis R’way—Common stock... 523
523
Pref. stock, 5 per cent, non-cu n illative............
523
ls tp r e f stock, 5 per cent, non-cumulative........
1st mortgage, gold, sinking fund........... -...........c* 513
40
New York A Greenwood Lake.—1st mort., income ..
2d mort., income........................................................
New York A Harlem—Common stock......................... 156
Preferred stock.......................................................... 156
Consol, mort., coup, or reg........................... .......-• 132
N. Y. Lackawanna A Western.—Stock, guar., 5 p.ct. 211
200
1st mortgage, coupon, may be registered.............
200
2d mort., guar, by Del. Lack. & w est.................. .
N. Y. Lake Erie A West.—Stock, common................. 1,678
Preferred stock.......................................................... 1,678
1st mortgage (extended in 1867 to 1897).......... .
2d mortgage, gold (extended in 1879)....................
3 l mort., gold (extended 40 years at 4*2 p. ct)—
4th mort., gold, (extended in 1880 at 5 per cent).
5th mortgage, convertible....................... ...............
Buffalo Branch Bonds...............................................
Long Dock Co., old mortgage............. .
do
mort., coup.,gold (for $7,500,000)
1st consolidated mortgage, gold..................
do
do
funded coupon bonds.
N. Y. L. E. & W. reorganization 1st lien b’ds, gold
do
2d consol, mort., gold...................
do
income bonds (non-cum.).............
do
f und.coup.bds (redeem, at 105 & int.)
Collateral Tr. bonds, gold, red’ ble at 110 .......... .
Car trust bonds (only $600,000 are 6s)..................
38
New Yortc A Long Branch—Stock...............................
Mortgage bonds.......................................... .
N. Y. A Massachusetts—1st mort. (for $2,750,000)..
:x
$100
100
100
1,000
1887
1875 100 &c.
100 &c.
50
50
1,000
1872
100
1880
1,000
1,000
1883
100
100
1,000
1847
1,000
1879
1,000
1853
1,000
1857
1858 500 &c.
1861 100 &c.
1,000
1863
1,000
1885
1,000
1870
1878 500 &c.
1.000
1878
1878 500 &C.
1878 300 &C.
1,000
1885
1,000
1882
1882
....
N ew Jersey Sou th ern .—'The road extends from Port 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
C h ro nicle , 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 &
Bea Shore Railroad. The bonds have interest guaranteed by the
New York & 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 $118,574; net deficit, $80,340. Gross in 1886, $481,908;
deficit, $ 5>>,321 .
N ew L o n d on N orth ern .—Owns from New London, Conn., to
Brattieboro. 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
$609,852; net, $189,246.
Rental and interest received, $241,441;
paid interest, &c., $98,697; dividend (6 per cent), $93,750; surplus,
$48,995.
N ew Orleans & G u lf.—The line o f the road is irom New Orleans
south al<>ng the Mississippi River to B jh em i;, with a branch, making
68*« miles in all completed in 1887. The bonas were offered in London,
Nov., 1886, by Messrs. Satterthwait & Co. Capital stock authorized,
$3QO,000; issued, $240,7oO. (V. 43, p. 634; V. 45, p. 643.)
N ew Orleans & N ortheastern. - 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 $4,320, c 00
and $1,900,000 of the $5,009,000 first mortgage bonds are held by the
Ala. N. O. & Texas Pacific Junction Co. Gross earnings in 1886, $661,236; net, $105,*11; deficit under interest, &c., $246,785. (See title of
that company in the Su pplem ent .)
N ew p ort N ew s & M iss. V a lle y.—(See Map) —This is the com
pany 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 $5,579,630 Ches. Ohio & Southwest
ern preferred, and $3,442,000 common stock, $1,055,500 Elizabethtown
Lexington & Big Sandy RR. stock, and $1,723,000 Chesapeake & Ohio
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 far as net
earnings suffice, in the order of their priority, any surplus up to 6 per
oent to be divided to lessor companies, and the excess retained by the
lessee. See annual report, with balance sheet, <fec., in V. 44, p. 78<>.
Registrar of stock, Metropolitan Trust Co., New York. Offices of Co.
No. 23 Broad sc. and New Haven, Conn. —(V. 43, p. 547; V. 44, p. 90,
344, 466, 78 0 ; V. 45, p. 211.)
N ew Y ork B r o o k ly n & M a n h a tta n B e a c h .—Prom Fresh
Pond Junction to Manhattan Beach, and branches to Bay Ridge and
Greenpoi at, 20 mile?. This was a consolidation Aug. 27,1885, of the N.
Y. Bay Ridge & Jamaica RR., the N. Y. & Manhattan B. Railway Co.
and the L. I. City & Man. B. RR. Co. The railroads are leased for 99
years from 1885 to the Long Island RR* Co. at 35 per cent of gross
earnings, but the rental guaranteed to be at least $95,980 in each year.
Of the stock $650,000 is preferred for 5 per cent, but not cumulative.
—(V. 43, p. 125.)
N ew Y o r k & C a n a d a .—Owns from Whitehall, N. Y.. to Rouse’s
Point, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Baldwin,
N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West
Chazy to Province line, 13 miles; total operated, 150 miles. The whole
line was completed Sept. 18,1876. The road is leased and virtually
owned by the Delaware & Hudson Canal Company, which guarantees the
bonds. The stook is $4,000,000. In year ending Sept. 30, 1887, gross
earnings were $828,970; net, $315,172; surplus over rentals and
taxes, $47.082. In 1885-86, gross $772,664; net, $268,811; surplus,
$32,305. (V. 45, p. 180, 614.)
N ew Y o r k Central & H u d s o n .—L ine op R oad .—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 RR., 426 miles, and branches, 22 miles; Troy & Greenbush,
6 miles; Niagara Bridge & Canandaigua, 98 miles; Spuyten Duyvil &
Port Morris, 6 miles; New York & Harlem, 127 miles; Lake Mahopac, 7
miles; total, 684 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.
Also operates the Dun. All. Val. & P. RR., 104 miles, but reported sep
arately. The West Shore R’ way was leased in Dec., 1885, for 475 years.
Organization , &c. -This company was formed by a consolidation
of the New York Central and the Hudson River railroads October
1 , 1869. The New York Central was a consolidation of several roads
under a special law of April 2,1853. The Albany & Schenectady Rail
road, opened September 12,1831, as the Mohawk & 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 B onds.—The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868.
and on the consolidation with the Hudson River road (Nov. 1,1869) a
further dividend of 27 per oent was distributed on the New York
$14,000.000
11,000,000
5,000,000
20,000,000
900,000
1,800,000
8,618,500
1,381,500
12,000,000
10,000,000
12,000,000
5,000.000
77,393,700
8,147,400
2,482,000
2,149,000
4,618,000
2,926,000
709,500
182,600
3,000,000
4,500,000
16.890,000
3,705,977
2,500,000
33,597,400
508,008
4,032,000
4,273.000
5,612,000
2,000,000
1,500,000
(?)
Oct. 1, 1921
New York.
4 g. A. & O.
F. & A. New York, Co.’s Office.
7
M. & S.
7
do
do
4
J. & J. N.Y., Gr. Central Depot, July 1, 1887
4
July 1, 1887
J. & J.
do
do
May, 1900
M. & N.
do
do
Oct.
1, 1887
N.
Y.
by
D.
L.
&
W.
Q.—J.
5
Jan. 1, 1921
6
J. & J.
do
do
Aug. 1, 1925
5
F. & A.
do
do
i
6
7
5 g.
4%g.
5 g7
7
7
6 g.
7
7 g.
6 g.
6 g-
6
5
6 g
6 &5
313
5
—
Yearly.
M. & N.
M. & S.
M. <& S.
A. & O.
J. & D.
J. & J.
J. & D.
A. & O.
M. & S.
M. & S.
M. & N.
J. & D.
J. & D.
J. & D
M. & N.
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
do
do
Coupon of June,’ 86, off.
LastpaidD ec. 1883.
New York & London.
A. & O.
J. & D. N. Y., 119 Liberty St.
—
Jan. 15,1884
May 1, 1897
Sept. 1, 1915
Mar. 1, 1923
Oct. 1, 1920
June 1, 1888
July 1, 1891
June, 1893
Oct. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Deo. 1, 1908
Deo. 1, 1969
June 1, 1977
Deo. 1, 1969
Nov. 1, 1922
1887-1892
Oct., 1886
1923
Central stook and 85 per cent on the Hudson River stock. In Nov.r
1879, 250,000 shares ($25,000,000) were sold to a syndicate of bankers
by Mr. W H. Vanderbilt at the price of 120, and 100.000 shares sold,
afterwards. Dividends of 8 per cent per annum haa been paid since
1868, but in 1885 only 3% per cent was paid, and in 1886, 4. Prices o f
stock since 1870 have been; In 1871, 84*4® 103%; in 1872, 89® 1017s;
in 1873, 7778®10612 ; in 1874, 957s®105%; in 1875,100® 107%; in
1x76. 96® 117%; in 1877, 85*4® 109*4; 1878, 103%®115; in 1879,112
®139; in 18 8 0,122®155%; in 1881, 130%®155; in 1882, 123%® 138 r
in 1883,111%® 129% in 1884, 83%®122; in 1885, 81% ® l07% ;in 1886,
98 %® 117%; in 1887 to Nov. 1 8 ,101%®114%.
The debenture bonds of 1884 must be included in any new mortgage
issued prior to 1902.
Operations, Finances, &c.—The New York Central & Hudson
River RR. has an exceptionally rich local traffic, but the profits also
depend very much upon harmony among the trunk lines.
m Dec., 1885, a lease of the West Shore Railway was taken for
475 years and the bonds of $50,#00,000 at 4 per oent guaranteed, by N .
Y. C. & Hud., and $10,000,000 West Shore stock taken as consideration^
For the quarter and year ending Sept. 30, approximate returns were
as follows:
^—Quarter ended Sept 30 , /—Year ended Sept. 3u —„
1887.
1886.
1886-7.
1885-6.
Gross earnings. ...$9,512,000 $8,717,147 $35,259,000 $30,506,361
Operating expenses 6,080,000
4,877,675 22,405,500 18,610,377
Net earnings... $3,432,000
First charges.......... 1,902,000
$3,839,472 $12,853.500 $11,895,984
1,926,886
7,773,500
7,245,885
Profit ..................... $1,530,000
Div. p d .,(lp . o. qr.)
894,000
$1,912,586
891,283
$5,080,000
3,577,000
$4,650,099
3,577,132
Surplus.............. $636,000 $1,018,303 $1,503,000 $1,072,967
The percentage of operating expenses to earnings was 63*55 in
1886-7, against 61 in 1885-6.
Annual report for 1885-6 in Chronicle, V. 44, p. 58.
Year
Net Income, Diviending Passenger Freight (ton)
Gross
over exp., dends,
Sep. 30. Mileage.
Mileage.
Receipts. int.&rents, p.o. Surplus
1883.429,385,561 2,200,896,780 $33,770,722 $7,327,156 8 $179,024
1884.387,829,886 1,970,087,115 28,148,667 4,668,759 8 *2,490,885
1885.438,397,774 2,137.824,205 24,429,441 2,176,342 3% *953,651
1886.476,128,729 2,414,266,463 30,506,362 4.650,100 4 1,072,968
* Deficit. In 1884-5 total deficit was $2,295,072.
—(V. 43, p. 5, 23, 399, 7 4 5 ; V. 44, p. 22, 58, 212, 370; V. 45, p. 5, 26,
211, 456, 472.)
N ew Y o r k C hicago & St. L o u is B a ll way.—Owns from Buffalo,
N. Y., to Grand Crossing, HI., 513 miles; leases in Buffalo 1% miles;
Grand Crossing to Chicago 9 miles; total, 523 miles.
The former company was organized in 1881 and became known as
the “ Nickel Plate.” Sale in foreclosure took place May 19, 1887, and
the present company was formed (see plan of reorganization V.
44, p. 211) in September, 1887, by consolida ion of compan es
in the several States traversed, and election of the following
board of directors: W. K. Vanderbilt, Cornelius Vanderbilt, H.
McK Twombly, J S. Kennedy. James A Roosevelt, Charles Reed, F.
A. Mizener, D. W. Corwin, J. H. Wade, F. P. Olcott, C. M. Depew a n l
Allyn Cox.
The first preferred stock has a 5 per ceDt preference,
non-cumulative and the preferred stock has next preference for 5 per
cent, non-cumulative. A sinking fund of $100,000 per year is pro
vided when the net earnings are $90t>,000 or upwards, if bonds can be
bought at 10 J. D. W. Caldwell, President. See abstract of mortgage
(Central Trust Company of New York, trustee), V. 45, p. 54 .
For the year ending Sept. 30,1887, the reports to the New York State
Commissioners showed:
1885-86.
1886-87.
Gross earnings........................................ $3,595,169
$1,569,591
Operating e xp en ses........................... . 2,417,817
3,242,082
Net earnings..................................... $1,177,352
Rentals, taxes, &e. (no int. on mortg.).
415,066
$1,327,509
292,273
Surplus........... ..........................
$762,286
$1,035,236*
—(V. 43, p. 163, 334, 459, 608, 774; V. 44, p. 60,118, 211, 212, 244,
276, 278, 308, 335, 344, 466, 495, 527, 621, 653, 811; V. 45, p. 53, 203,
240, 272, 292, 401, 425, 541, 642, 643, 673, 676.)
N ew Y o r k & Greenwood. L a k e.—Owns from Jersey City, N. J.,
to Greenwood Lake, 48 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 & Greenwood Lake, and again sold
October 12, 1878, and the present company organized. The New York
Lake Erie & Western purchased a controlling interest in the property
and now operate it. The holders of the second mortgage bonds have
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
gain control of the property. The stock is $100,000. Gross earnings in
1885, $188,474; net, $21,514; payments, $19,149. Gross earnings in
1886, $228,169; net, $8,239; payments, $17,895. Abram S. Hewitt,
President.
m Y ] ESTOPS’
SUPPLEMENT.
[V ol . XLY.
N ovem ber,
1887.]
RAILROAD
STOCKS
AN D
BONDS.
79
Subscriber* w ill confer a great favor by givin g Im m ediate notice o f a n y error discovered In these Tables.
Bonds—PrinffiDESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
For explanation of column headings, Ac., see notes
Rate
per
Par
When Where Payable, and by Stocks—Last
of
Road. Bends. Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Dividenti.
N. Y. d N. England—Stock ($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 York New Haven di H artford—Stock..............
Mortgage bonds, (for $5.000,000).........................r
Harlem & Portchester, 1st mortgage guar___c&r
do
do
2d M., coup, or reg., guar..
N. Y. di Northern—1st mort., gold........................... .
2d mort., gold, (income till Dec., 1891)..................
1st M., gold, for $4,000,000 (redeemable at 110)..
New York Penn, d Ohio—Prior lien bonds, gold,$A£
1st mort., gold (no foreclosure till 1895,7$ A £ ..
2d mortgage, incomes, $ & £ ..................................
3d mortgage, incomes, $ A £ ...................................
N. Y. Phita. di N orfolk—1st mortgage, gold.............
Income mortgage, non cumulative.........................
N. Y. Prov. d Boston—(Stonington)—Stock.............
First mortgage............................................................
1st mortgage (Stonington to New London)............
N.Y. d Rockaway Beach.—1st mortgage, gold........c*
N Y.Susqueh.d Western—1st mort., Midland of N. J.
Mortgage, gold, on Paterson Extension...............
New first mort., gold (2d M. on 72 miles)............. o
New 2d M. ( $l,660,0o0 gold). 3d M. on 72 miles..
N. Y. Tex.dM.ex.—1st M.. gold, guar., $ or £ ........ o *
Niagara Bridge d Canandaigua—Stock..................
N orfolk Southern—1st mortgage, gold.....................
2d mortgage, income (not cumulative)..................
471
321
321
263
123
12
12
54
54
417
320
432
432
432
432
112
82
50
12
16
73
134
134
»2
100
75
75
$ ....
1876
1882
1882
1,000
1,000
1884
1880
1880
1880
1880
1883
1883
1,000
500 &c.
500 Ac.
500 &c.
500 Ac.
1,000
1,000
100
1,000
1,000
1,000
100
1883 l,000&c
1,000
1873
1,000
1881
1,000
1887
1,000
1887
1869
1881
1887
1887
1880
1881
1887
1887
1882
1880
1881
50Ö&C.
1,000
1,000
1,000
500
100
1,000
1,000
$19,313,000
1,900,000
¿i* M. A N.
Boston,
10,000,000
6*7
J. A J. Bos., Safe Dep. A T’st Co.
4,361,000 3 to 5 & 6 F, A A.
Boston.
4 & 5 Various
1,692,496
Boston.
2 ifl
15,500,000
Q .-J . N.Y., Grand Cen. Depot.
4
2,000,000
J. & D.
do
do
2,000,000
6 & 7 A. & O.
do
do
4
1,000,000
J. A D .
do
do
__
1,200,000
New York, Office.
5 g•
3,200,000
4 g.
do
do
—
58,113,982
2,976,000
M.
A
S.
New York
6 g8,000.000
6 g- M. A S. London and New York.
44,236,000
7 g. J. A J.
do
do
14,500,000
do
do
5 g- M. A N.
30,000,000
do
do
5 g- M. AN .
1,848,000
6 g. J. A J. Phila., Penn.RR. Office.
6
1,000,000
do
do
2J« Q—Feb. N. Y., Central Trust Co.
3,000,000
J. A J.
7
do
do
1,000,000
A. A O,
300,000
4
do
do
M. A S. N.Y., Treasurer’s Office.
1,000,000
S *
1,000,000
6
A. A O. N. Y<, Nat. Park Bank.
3,500,000
N. Y „ office of Co.
250,000
6 g- I. A D.
3,750,000
5 g- J. A J. N. Y., Nat, Park Bank.
F.
A
A.
New
York, Park Bank.
636,000
43*g¡
1,442,500
4 g. A. A O. N.Y.,So.Pao.Co.;Lond’n
1,000,000
3
A. A O. N. Y., Cent. RR. Office.
900,000
6 g. M. A 8. Int.fund. from Sep.1,’84
Yearly.
1,000,000
6
Nov. 1,1887
Jan., 1905
Aug. 1,1902
1887-92
Oct. 1, 1887
June 1, 1903
1903
Jane 1.1911
Oct. 1, 1927
Dec. 1,1927
Sept. Í, 1914
March 1,1895
July 1, 1905
May 1, 1910
May, 1915
Jan. 1,1923
Oct. 1,1933
Nov. 10, 1887
July 1, 1899
A p r ili, 1901
Sept. 1, 1927
April 1, 1910
1911
Jan. 1,1937
Feb. 1,1937
Apr. 1, 1912
Oct. 1, 1887
Sept. 1, 1920
Jan. 1, 1970
operations and fiscal results .
N ew Y o r k Sc H a r le m .—Owns from New York City to Chatham,
Operation«*—
1882-83.
1883-84.
1884-85.
1885-88.
N. Y ., 127 miles. From Chatham to Albany, 24 miles; the Bost. A Alb.,
6,734,045
7,209,054 7,727,051
RR. is used. This company owns the Fourth Avenue street railroad Passengers carried.. 6,934,724
The property (except the horse railroad) was leased April 1,1873, tor Passenger mileage .. 247,147,117 235,105,058 250,635,115 256,137,487
401 years, to the N .Y . Central & Hudson River RR. at 8 per cent divi- Freight (tons) moved 13,610.623 16,219,598 14,959,970 18,668,239
idends on the stock and the interest on the bonds. The Fourth ave. horse Freight (tons) mil’ge 2306946892 2498888976 2381778927 2882311126
railroad was retained, and extra dividends are paid out of its receipts
annually in April. All operations of the main road are included with
* Figures of trafflo do not include coal and supplies.
learnings—
$
$
$
$
those of the N. Y. Central A Hudson.
Passenger.................
4,632,229 4,675,872
3,936,793 4,393,812
N ew Y o r k L a ck a w a n n a Sc W e ste rn .—(See Map o f Del. Lack, Freight...................... 17,213,621 15,773,004 13,813,249 16,894,908
d West.)—From Binghamton to Buffalo and International Bridge and Mail,expr’s,rents,Ac.
956,396 1,188,559
1,134,530 1,211,326
branches, 214 miles; built under the auspices of Del. Lack. & Western.
Total gross eam ’gs. 22,802,246 21,637,435 18,934,572 22.500,046
Opened Oct., 1882, and leased to Del. Lack. A West, for 99 years, with
a guaranty of the bonds and 5 per cent yearlvon the stock. The latter Operating expenses. 15,444,583 16,358.077 14,347.516 16,388,638
guaranty is written across the face of the certificates and signed by the D. Net earnings............
7,357,663 5,279,358
4,587,056
6.111,408
L. & W. officials. Sept. 30,1886, owed D. L. & W. for advances $782,770. P. c. op. exp.to earn’s
64-78
69-52
69-79
66‘97
The statement of profit and loss inc’ udes numerous items, and référ
N ew Y o r k L a k e Erie Sc W e ste rn .—Line of R oad .—Jersey City, ence should be made to the table in V. 43, p. 669, of which the totals are
N. J., to Dunkirk, N. Y., 460 miles : branches—Piermont, 18 miles ; New- as follows for the years ending Sept. 30.1883,1884, 1885 and 1886 :
burg, 19 miles; Buffalo. 60 miles: Erie International RR.. 5 miles;
1883.
1884.
1885.
1886^
Rutherford to Ridgewood, 10 miles ; leased—Montgomery A Erie RR.. Total incom e.... $8,234,463 $6,356,983 $5,589,748 $7,057,869
10 miles; Goshen A Deckertown, 12 miles; Newburg A New York, Total debits*.... 6,968,978
7,055,606
6.966,691 7,043.258
13 miles; Paterson Newark. AN. Y., 11 miles; Hawley A Honesdale, 24
$1,265,485 def.$698,622df.$l,376,943 Sur.$14,611
miles; Jefferson RR., 37 miles ; Buff. Brad. & Pittsburg and extension, 68 Surp. or deficit..
miles; Buff. N. Y. A Erie, 140 miles; Suspension Bridge A Erie Junction.
* Includes full interest on 2d consols each year whether paid or not.
23 miles; Rochester & Genessee Valley, 18 miles; Avon Gen. & Mount
Morris, 18 miles; Pat. A Hud., 15 miles; Pat. A Ram., 15 miles; Lockport
- ( V . 43. p. 23, 132, 191, 245, 399, 648, 6 6 9 , 671; V. 44, p. 22, 90,
& Buff., 15 miles; Buff. & Southw., 68 miles: controlled—Newark A Hud., 149, 212, 308, 369, 401,466, 551, 602, 681; V. 45, p. 26, 143, 211, 212,
6 miles; Weehawken N.Y. A Ft. Lee, 4 miles; Northern of N. J., 25 miles; 305, 43‘ .)
Middletown & Crawford, 11 miles; N. Y. Penn. & Ohio and branches, 573
N ew Y o r k Sc L o n g B r a n c h .- 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 & 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 A Ohio), to security for the new mortgage. In 1886 gross earnings were $602,552r
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
N e w Y o r k Sc M a s s a c k n s e tt s .—Owns from Poughkeepsie to
sions, this was broken.
Boston Corner*, 40 miles, and projected to Chicopee, Mass. This Tdad
Organization , L eases, &c.—The New York & Erie RR. was chartered embraces the former Poughkeepue Hartford Sc Boston, foreclosed in
April 24,1832, and the State of New York loaned the company $3,000,- 1886, and is to be extended a3 a connection for the Poughkeepsie
000; the road was opened to Dunkirk April 22, 1851. The company Bridge. The bonds have not yet been issued. G. P. Pt lton, President,
was reorganized under the name of Erie Railway Co. June 25, 1861. Poughkeepsie, N. Y.
This Erie Railway was sold in foreclosure under the second consolidated
N ew Y o r k Sc N ew E n g la n d .—The mileage owned is as fol
mortgage in 1878. The present company was organized and took
possession June 1,1878. The Long Dock Co. has stock of $800,000, all lows: Boston to Hopewell Junction, 2 15miles; Wioopee to Newburg, 3
owned by the N. Y. L. E. & W.; its property consists of lands and lands miles; Providence to Willimantio, 58 miles; branches—Newton, Mass.,
to Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southunder water, about 577 acres, with piers, buildings, &c.
bridge, Mass., 17 miles; Elmwood to Dedham, Mass., 1tgmiles; Charles
Stock and B onds.—Preferred stock has a prior right to 6 per cent Riv. to Ridge Hill, Mass., 2 miles; other branches, l 1« miles; total owned,
(non-cumulative) from the net profits, “ as declared by the board of di 326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to Rockrectors,” but the U. 8. Supreme Court held in 1886 that this stock has ,ville, 4 miles; Springfield to E. Hartford, Ac., 34 miles; Norwich & Wor
no legal right to claim a di vidend, though net earnings are sufficient.
cester RR., 66 miles; total leased, 119 utiles; 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 & N .Y .
Com,—In 1878, 75s@22i2; in 1879, 21ie@49; in 1880, S O SSl^j in 1881, Steamer line.
39%®5278; in 1 8 8 2 ,3 3 ^ 4 3 % ; in 1883, 2678®4078; in 1884, l l 1s®2838;,
The former Boston Hartford & Erie Railroad became insolvent and Was
in 1885, 91i®2?78; in 1886, 22V®383s; in 1887 to Nov. 18, inclusive succeeded by this company, formed in 1873. In 1878-79 the company
241a ®35 b8. Pref.—In 1878,21V®38; in 1879, 371a®78:1e; in 1880, 47 acquired the Hartford Prov. & Fishkill RR. Since the completion o f
® 9 S V in 1881, 80tfi® 96V in 1882, 6 7 ® 8 8 V 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 1886,501a®81l2; in 1887 to Nov. 18, inclu have been demoralized, and the N. Y. A New England has not yet
sive, 59 ®76.
realized the full benefit of that extension.
The 1st consol, funded coupon bonds are secured by lien of consoli
On January l, 1884, Mr. C. P. Clark, the President, was appointed the
dated mortgage. On the second consolidated mortgage no foreclosure receiver, and so remained till Jar. 1,1886, when the road was returned
can take p'ace till six successive coupons are in default, but all of one to its owners. For the car trust bonds 2d mortg. bonds were Issued,
coupon must be paid before any part of a subsequent coupon is bearing 3 per cent to Feb. 1890, 5 per cent to Feb. 1892 and 6 for bal
paid. In 1883 the collat’l trust bonds were issued (the U. 8. Trust ance o f term. In 1885 $2,000,000 of 7 p. c. cumulative preferred stock
Co. trustee; see V. 38, p. 509), and redeemable at 110 on three months’ at par taken by stockholders and others cleared off the floating debt. t
notice ; about $730,000 were so redeemed Nov., 1885. The 2d consol,
Annual report for year ending Sept. 30, 1886, in V: 43, p. 70.
funded coupon bonds of 1885 were issued to fund three past due Operations, Ac., for four years past w ere:
ooupons and the coupon of June, 1886, and the coups, are deposited as
income account.
security. These bonds are redeemable at any time at 105 and accrued
1883-84.
1884-85.
1885-86.
1886-87.
interest. The Long Dock mort. for $7,500,000 was issued in 1885
Receipts—
$
$
$
$
<$3,000,000 being reserved to meet the old bonds), and the bonds under
Gross
earnings..........
3,337,901
3,288,946
3,863,994
4,217,685
this mort. are payable at 110 from proceeds of land sales.
Net earnings...............
396,276
987,231
1,243,389
............
Operations, F inances, &c.—The company since its reorganization Other receipts..........
31,846
23,473
35,411
..........
in 1878 has become a standard gauge system. The income account foi
several years showed a considerable surplus over fixed charges, but in
Total income.......
428,122
1,010,704
1,278,800 1,397,307
1883-84 the income fell off largely, and there was a deficit below the
Disbursements—
interest requirements, and three ooupons, June, 1884, to June, 1885, Rentals p a id ........... ..
88,903
130,132
66,235
........
on the 2d consol bonds, were passed.
Interest on bonds*. .
916,273
933,221
964,629
........
Some of the holders of car trust bonds have relinquished their right Int. on floating debt.
10,113
28,769
94,269
.....
to annual drawings of principal, and 90 per cent of the holders agreed Int. on car tr’stsAmis.
82,108
32,041
9,507
........
to reduce their interest to 5 per cent, but other holders obtained a de 7 per cent dividend..
............
............
133,000
............
cision sustaining their original contract.
From October, 1886, to June 30, 1887 (9 months) g ’ oss earnings were
Tot’ldisb’ ments.
1,097,397
1,124,166
1,267,640 1,269,159
$17,714,826, against $16,223,109 in 1885-86; net, $5,518,296, against
$4,874,614; surplus over fixed charges $640,117, against a deficit of Balance.................... def. 669,275 def. 113,459 sur. 11,160 sur.128,148
$17,064.
‘ Including int. on Terminals and fu ll interest on bonds each year.
From October 1, 18c6, to Aug. 31,1887 (11 months), gross earnings
were $22.026,699, against $20,260,171 in lb85-6; net, $6,467,137, - V . 44, p. 22,149, 185, 276, 308, 344,525, 551. 682; V. 45, p. 178, 305.
614, 673.)
against $5,782,121.
The annual report for year ending Sept. 30, 1886, published in the
N ew Y o rk N ew H a v en Sc H a r tfo rd .—Owns from Harlem JunoChronicle, V. 43, p. 648 and 669, had the follow ing:
N. Y., toSpringfield,Mass., 123 miles; branches to New Britain, Middle^
INVESTORS’
80
DESCRIPTION.
„u of column headii-0~,
on first page of tables.
N orfolk Southern—(Continued)—
2d mortgage debenture................... .............
Funded mt. bonds ($270,000 secured by coupons)
N orfolk dt 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.)
SUPPLEMENT.
rres
Miles Date Size, or
Amount
Par Outstanding
of
of
Road. Bonds Value.
533
533
428
106
533
Adjustment mort., gold (red’ble after ’94 at 110), 533
Is tM . Clinch Valley Div., gold (for $3,325,000)cJ 115
Car trust..........................................i v
....
81
Norfolk & Petersburg—2d mort.
133
133
do
2d
do
guar. Pel
133
do
3d
do
.........v .
214
Virginia & Tenn.—Enlarged mort. (extend’c
214
do
do
4th mortgage.........
223
N orth Oarolinar-Stock, common..................
223
Preferred stock........................................... •
223
Mortgage bonds..........................................*
76
Jforth Pacific Coastr-1st and 2d mortgages.
1st mort. North Pacific Coast Extension Cc
88
North Pennsylvania^ -Stock, guar.................
56
2d mortgage.................. ................................
General mortgage bonds.............................
Bonds secured by $1,200,000 stock..........
140
Northeastern (S. O.)—Stock............................
102
1st m ortgage.................................................
102
2d m ortgage.................................................
Consol, mort., gold (for $1,836,000) - - - - - - . 149
47
San Pablo «fe Tulare—1st mort. ($3.750.000).
IV ol . XLV.
Bonds—Prinoi INTEREST OR DIVIDENDS.
pal,When Due.
When Where Payable and by Stocks—Last
Whom.
Dividend.
Cent. Payable
A. & O. Int.fund. from Sep.1,’84
$250,000
1881 $1,000
Various
300
345,000
’80-’82
100
7,000,000
100 22,000,000
1,000
6,907,000
6 g. M. & N. N. Y. and Philadelphia.
1881
do
do
1,000
2,000.000
1882
6 g- A. & O.
da
do
1,000
3,500,000
1883
6 g- F. & A.
do
do
1,000
1,500,000
7 g. Q —M.
1884
do
do2,500,000
1,000
5 g. M. & S.
1887
do
do
M’nthly
1,297,642
....
Var’s
Philadelphia
Office.
J.
&
J.
~ 6*
525,000
500
1884
J. & J. N. Y. and Philadelphia.
8
1,000
496,000
1868
do
do
1,000
503,000 5, 6 & 8 J. & J.
1866
do
do
5 & 6 J. & J.
395,300
1866 200 &c.
do
do
J. & J.
6
452,800
1866 200 &C.
do
do
7. & J.
5
1,000
990,000
1854
do
do
J. & J.
8
1,000
1,000,000
1865
Burlington* N. C.
M. & S.
3
100
3,000,000
do
do
M. & S.
3
100
1,000,000
do
do
M. & N.
8
210,000
500
'67-’68
M. & N.
1,100,000
....
1881
J. & J.
150,000
Philadelphia, Office.
Q .-F .
2
50
4,399,750
do
do
M. & N.
7
1,500,000
500 &o.
do
do
J. & J.
7
4,169,500
do
do
M.
&
S.
3
1,200,000
1881
6
899,350
50
M. & S, Charleston, Office,
8
500
820,000
1869
do
do
M. & S.
8
322.000
500
1869
1,000
694,000
6 g. J. & J. N. Y., John Patón & Co,
1883
T. & J. Southern Pacific Co.
3,964,000
1,000
1877
do
do
!* ■ A. & O.
1.000
1,023,000
1878
Oct. 1, 1921
1920 & 1921
Jan. 15,1884
May 1, 1931
A p r ili, 1932
Feb. 1, 1934
Dec. 1, 1924
June 1, 1957
Various.
Jan. 15,1894
July 1, 1893
1888 to 1900
1888 to 1900
Jan.l,’96-1900
June 30,1900
Mch. 1, 1900
Sept. 1, 1887
Sept. 1 ,1 88 7
Nov., 1888
Nov. 1, 1901
Jan. 2, 1889
Nov. 25, 1887
May 1, 1896
1903
Sept. 1, 1905
In 1884-5
Sept. 1, 1899
Sept. 1, 1899
Jan. 1, 1933
Jan. 1,1907
April 1,1908
the mortgage is suspenaea. un rue secouu dim umu
euero
is no right to sue the company or to 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 seourea on leasehold estates,
A lease to N. Y. Lake Erie & 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,XliO of gross earnings above $6,000,000 until the gross earnings are
$7,250,000, and then 31» per cent 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 year. 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 for year ending 8ept. 30, 1886, $6,161,107; net, $2,011,522;
rental to N. Y. P. & O.. $2,001,401; surplus of N. Y. P. & O. after all pay
ments, $9,876. (V. 44, p. 342, 370: V. 45, p. 84,143, 211, 614, 673.)
N ew Y o r k P h ila d e lp k ia & N o rfo lk .—Operates from Delmar,
Del., to Cape Charles, Va., 95 miles, and King’s Creek, Md., to Crisfleld,
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
2,826,126 bottomry mortgage for $225,000 due in 1887. From January 1 to
2,446,536
2,232,245
September 30 in 1887, gross earnings were $389,607, against $317,988
Disbursem ents—
442,876 in 1886; net, $73.447, against $52,826.
Gross earnings in 1886 were
425,668
422,992
Rentals paid..........
250,000
250,000
$125,906; net, $61,118; deft'it under all interest, $7 8,063. Gross in
250,052
Interest on debt...
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 P rovidence & B o sto n .—Owns from Providence, R.
1,770,868
1,559,171
Surplus for dividends.
1,550,000
1,550,000
I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch,
1,550,000
4*2 miles* operates also Pawtuxet branch roads, S im ile s ; total oper
Balance
.......................
9.171
220,868
583,250 ated, 82 miles. Owns a n aionty interest in the Providence & Stoning,
; (V. 44, p. ¿ 8 , 212, 495, 586, 653, 681, 782; V. 45, p. 53, 84, 240, 673.) ton Steamship Line, which has a capital of $1,400,000. Gross earnings
in 1885-86, $1,237,120, aga nst $1,139.886 in 1884-85; net earnings,
N e w Y o r k & N o r t h e r n .—Owns from 157th Street and 8th $376,073, against $378,370. (V. 43, p. 745.)
Avenue, New York City (connecting with Metropolitan Elevated), to
ew Y o r k & R o c k a w a y B ea c h .—Owns from Glendale Junction
Brewsters, N. Y., and branch, 54 miles. The former New ^York City toNRockaway
Beach, 10% miles; leases trackage—Glendale Junction to
A North* rn was sold in foreclosure Aug. 17,1887, and this company Long Island City,
miles; Fresh Pond to Bushwiok, 2*2 miles; Wood■was organized with common stock of $3,000,000 and pref. 5 per cent haven to Brooklyn,6%
miles; total operated, 26% miles. The stock is
stock of $6,000,000. The following directors were elected: A. Baylis, $1000.000. Under 6%
L.
I. RR. control. Foreclosure sale of ihe N .Y .
D E H Benner, H. F. Dimock, J. B. Erhardt, G. J. Forrest, W. H. Hoi
& Rockaway road was made in June, 1887, and new securi
lister, A. Lickenstein, J. J. McCook, A. Marcus, W. Mertens, R. Randall, Woodham
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. Erhardt, President.
N ew Y o r k Susquehanna & W e ste rn .—Jersey City to Gravel
From Jan. 1 to June 30 in 1887 (6 months), gross earnings were
265,015, against $-¿49,371 in 1886; net, $35,722, against $48,531; Place. 101 miles; Two Bridges, N. J .,to Unionville, N. Y., 21 miles; other
elicit under fixed charges, $94,478, against $78,367. (V. 43, p .5 4 7 ; branches, 12 miles; leased—Unionville, N. Y., to Middletown, N. Y., 14m.;
i o n k 370,
o rm 499,
A q q 586.
flöß V
S# V
5 . tp.
>. 1
3 5 . 2 4 0 . 2 7 2 . 5 1 2 . Lodi Br., 2m.; Penn. RR. trackage, 3m.; Passaic Br.. 3m.; total, 155m.
V? 44, p. 90, m
211,235,
752;
V. 445,
135,240,272,512,
The New Jersey Midland was sold in foreclosure Feb. 21,1880, and
643.)
Midland oi New Jersey was organized. The New York Susquehanna
N e w Y o r k O n t a r io & W e s t e r n .—Owns from Oswego, N. Y., the
&
Western was a consolidation in June, 1881, of the Midland of New
to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles; Jersev
and other railroads. Stock common is $13,000,000; preferred
to Delhi, 17 miles: to Ellenville, 8 miles; total owned, 320 miles; leases icumulative
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 Weehawken, 53 terms, and the exchanges
up to Jan. 1,1887, left $1,844,474 of the old
m iles; total operated, 417 miles.
■
_ . _ „
, _ .
stock,
income
bonds
and scrip not yet exchanged.
■ ", ■
In May, 1886, made the agreement with the D. & H. Canal Co. for
In Dec., 1886, new 5 per ct. bonds were proposed, to exchange for the
operation of the U. C. & Bing, and the Rome & Clin, roads for 30 years first
mort. bonds and coupon scrip, and the exchange w-as generally ac
on a percentage basis.
____
. ,, .
bondholders, makingthe debt as above riven, though some few
This was the New York & Oswego Midland. Main line was opened cepted by
are reported to have h--ld out. (See annual report V. 44, p. 619.)
July, 1871. Default was made in 1873. The main line was sold in fore- holders
From Jan. 1 to Aug. 31,1887 (8 mos.), gross earnings were $867,Oiosure 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
INCO M E ACCOU NT.
Sept., 1887. By agreement with the new West Shore Co. in January,
1883.
1884.
1885.
1886.
1886, the N. Y. O. & W. took title to the road, Middleton to Cornwall,
Tteceivls
$
$
$
$
and a right to run its trains over the West Shore from Cornwall to Wee Total
ctoss earnings........ 1,038,656 1,034,208 1,092,355 1,129,441
hawken by payment of a fixed sum per mile for trackage.
S
“
..........
400,065
416,521
474,835
457,286
From Oct. 1,1886, to Aug. 31, 1887 (11 mos.), gross earnings were I S
............
44,m a
$1,323.821, against $1,360,952 in 1885-86; net, $201,268, against Other income.............................................................
¿ iqq 584.
416,521
474,835
501,309
T
o
t
a
l....’
..................
.
400,065
v In the year ending Sept. 30,1886, gross earnings were $1,492,851;
Disbursements—
net, $221,999. See annual report in V. 43, p. 606.
411,000 *322,095 *327,765
From Oct. 1, 1886, to June 3 0 ,18 8 7 (9 mos.), gross earnings were Interest on b o n d s ......... 382,oOO
25,000
29,500
25,000
$990,249, against $1,069,964; in 1885-6; net, $154,599, against *161,- Rentals.................................................
t 92,352
155,919
83,192
Car
trust
obligations............................
716; deficit under charges, $34,801, against a surplus of $44,850. (V.
43, p. 6 0 6 .6 1 9 ; V. 44, p. 212, 276, 308, 4 34,451,654,713; V .45, p.
Total disbursements..
382,500
519,192
439,447
513,184
26,143, 240. 272, 437, 673.)
Balance........................................ b u t . 17,565 df.102,671 sur. 35,388 df. 11,875
N ew Y o r k P e n n sy lv a n ia & O h io .—Owns from Salamanca,
* Half interest only paid on N. Y. Sus. & W. firsts and debentures.
N. Y., to Dayton, O., 388 miles; branches—to Oil City, 34 miles; to
tThe car trusts accrued during the year amounted to $117,552, of
Silver Creek, O., 2 m iles; total owned, 424 miles. Leased lines—
which
payment of $25,200 was deferred.
Cleve.& Mahon. RR.,81 m.; Niles & New Lisbon RR., 36 m.; other small
branches, 32 m.; total operated, 573 miles. Changed to standard gauge —(V 43, P. 3 3 5 , 368, 516, 672,746; V. 44, p. 22,149, 308, 6 1 9 , 752; V.
45,
p.
143,211,500.)
. a L^
„ . .
.
June, 1880. Formerly Atlantic & Great Western Railway Sold July
N ew Y o r k T ex a s & M e x ic a n .- Line projected from Rosenberg
1, 1871, and leased to Erie on May 1,1874, but lease not carried out. Tuuction.
Texas,
to
Brownsville,
350
miles.
Completed
Rosenberg
to
Again sold Jan. 6, 1880, and reorganized by a London committee Victoria, 92 miles. Stock, $814,800. There are also $75,500 6s yet
or stock and bond holders. (See V. 30, p. 143.)
In September, 1885, sold to So. Devel. Co. and »»op er
Five trustees exercise the voting power of the new stock until the third outstanding.
ated by the So. Pacific Co., which guarantees the 4 per cent bonds.
mort. bondholders receive 7 per cent interest in cash during three years. From
Jan.
1
to
Sept. 30, in 1887 (9 mos.), gross earnings were $125,200,
The first mortgage bonds bear 7 per cent, whatever poition of this that against $111,260;
net, $13,354, against $ 76. In 1886 gross earnings
may not be earned to be payable in deferred warrants, to be capitalized
were
$158,858;
net, $9,006. (V. 43, p. 133, 163; V. 44, p. 335, 344; V.
In bonds of the same class; payment of interest to become absolute not
later tlum July 1,1195, and until July 1,1895, the right to foreclose p. 45, 488,)
town and Suffleld, 18 miles, leased—Harlem & Portchester RR., 12 miles,
» lo r e Line RR., 50 miles; Boston & New York Air Lane and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a consolidation July 24, 1872, of the New York & New
Haven and the Hartford & New Haven railroads. The company uses
theN . Y. & Har. RR. from Williamsbridge into N. Y. City and pays a
large rent therefor. The company leases the Harlem River & Portehester Railroad, 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. Haven & Northampton RR. In July, 1887,
It was voted to lease the New Canaan road, the Naugatuck, the New
Haven & Northampton and the Hartford & Connecticut Valley.
From October 1,1886, to Sept. 30,1887, gross earnings were $7,990,
209, against $7,601,946 in 1885-86. Fiscal year ends Sept. 30. Annual
report for 1885-86 was in V. 44. p. 58>'r^
1885-6.
1884-5.
$
$
$ ’
7,601,946
6,895,824
Gross earnings............*............
6,887,259
4,775,820
4,449,288
S
RAILROAD STOCKS AND BONDS,
(X)
MAP OF TH E
f
OEFOLK
ovEMBEB, 1887.]
AN D
W ESTBK'
IÂILEOÂD
Clinton! V
T
E
NjrN
/ . .
E% S
C V *
\
% S Ä n e o
,si°wnAee^ e«2^iSi!^à§ranbe'rt¥ ^
SV E
5 V
E
^
J * ^ A f# ^ o U e ts v iU e o
0
®
D
^
Yadkinville0
;
-
..
/r -
„ , ------------ A »
Salem
/^Salern Je.
AND CONNECTIONS.
INVESTORS’
8 2
SUPPLEMENT,
[ Y o l . XLV.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Prinoi.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
Par Outstanding
of
Where Payable, and by StocJes—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Northern. N. H .—Stock.......................................... .
$100 $3,030,692
S3
3
J. & D. Bost.,Conc’d o r Leban’n Nov. 1, 1887
Northern Central—Stock............... .........................
....
50
323
7,150,000
4
J. & J. Baltimore & Philadel. July 15,1887
1st mortgage, State (Maryland) loan...................... 138
....
1,500,000
6
Q.—J.
Annapolis.
Irredeemable.
2 d mortgage, coupon................................................ 138 1865 500 &c.
1,126,000
6 g. A. & O. Baltimore & Philadel. April 1, 1900
Consolidated mortgage, gold, coupon.................... 138 1868
1,000
2,599,000
6
J. & J. Baltimore, Treas. Office. July 1, 1900
Consolidated mortgage, gold, registered............... 138 1868
1,000
205,000
do
6 g. A. & O.
July 1 ,1 9 0 0
Consol, gen. mort., gold, s. f., coup., £ or $ A. & B 138 1874-5 1,000
2,366,000
6 g. J. & J. London <fc Baltimore.
July 1, 1904
do
do
gold, coup. $ C & D .........
1876-7 1,000
2,000,000
6 g- J. & J. Baltimore, Treas. Office. July 1, 1904
do
do
gold, coup., E ...................
1,000
1885
1,220,000
do
4*ag. A. & O.
April 1, 1925
2d general mort., “ A,” coupon (sinking fund) . . .
1,000
2,785,000
138 1876
5
J. & J
Baltimore.
Jan. 1, 1926
do
do
“ B,” coupon..........................
1,000
1,000,000
138 1876
5
J. & J.
do
Jan. 1, 1926
Union RR., 1st mortgage (assumed!....................
500 &o.
900,000
6
J. & J.
do
Jan. 1, 1895
do
2d mortgage (assumed)....................
500 &c.
....
600,000
6 g. M. & N. N.Y., London & Balt’re. May 1, 1900
Northern o f New Jersey—Stock..................................
....
100
26
1,000,000
J. & J.
New York Office.
(?)
w
1st mortgage, extended...........................................
21 1878 100 &c.
138,000
6
J. & J. J. City, Hudson Co. B’ k. July. 1888
2d mortgage.......... ............................................... .
21 1869 100 &c.
200,000
7
M. & S.
do
do
March, 1889
....
Northern Pacific—Tret. stock(8 p. o., not cum’tive) 2.807
100 37,786,199 lliio ce rt
Jan. 15, 1883
__
Common stock........................................................... 2.807
100 49,00o,000
Deo. 1,1933
1st M. and Id. gr., Missouri Div., red. at par..c*&r 205 1879 500 &C.
2,107,500
6
M. & N. N. Y ., Mills Building. May 1, 1919
1,000
1st M. and Id. gr., P. d’ Or. Div., red. at par. .0 *<fcr 225 1879
2,956,000
6
M. & S.
do
do
Sept. 1, 1919
Cons. 1st M. Id. g., gold, $25,000 p. m........... c*&r 2,134 1881 l , 000<fec 46,513,000
do
do
Jan. 1, 1921
6 g- J. & J.
do
2d m., gold, land grant................c*&r
All 1883 l.OOO&o 20,000,000
do
do
6 g. A. & O.
Deo. 1,1933
1,000
1887
3d mort., gold (for $12,000,000) .............................
do
do
(?)
1937
6 g•
Dividend certificates.................................................
1883 500 &c.
4,640,821
6
J. & J.
do
do
1888 & 1907
1,000
64 1886
Jas. Riv. Yal. RR. 1st M., gold, guar., s. f ........ c*
963,000
6 g. J. & J.
do
do
Jan. 1, 1936
1,000
44 1886
Spokane & Palouse, 1st M., gold, guar., s. f .......0,
688,000
6
M. & N.
do
do
May 1, 1936
1,000
1,650,000
Duluth & Manitoba, 1st M., gold, guar., s. f ___c* 110 .1886
do
do
6 g. J. & J.
July 1, 1936
1,000
16 1887
Helena & Red Mountain, 1st M., gd., guar., s. f..c*
400,000
do
do
March 1,1937
6 g- M. & S.
1,000
30 1887
Helena Boul. Yal. & Butte, 1st M., gd., gu., s. f.c*
600,000
do
do
May 1, 1937
6 g- M. & N.
Drummond & Philipsburg, 1st M., gd., gu„ s. f.c* 25-8 1887
1,000
516,000
do
do
June 1, 1937
5 g- J. & D.
Northern. Pae. Ter.Co.—1st M., g. ($5,000,000) op..
1883
1,000
3,000,000
6 g. J. & J. N.Y., Winslow, L. & Co. Jan. 1, 1933
....
....
Northwestern Ohio—Stock............................................ "79
2,000,000
....
N iagara B rid ge 6c C an an daigu a.—Owns from Canandaigua to
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in
perpetuity to the New York Central & Hudson at $60,000 per annum,
with right of lessee to commute by payment of a gross sum of $1,000,000.
N orfo lk Sou th ern .—Formerly the Elizabeth City & Norfolk. Name
«hanged Feb. 1,1883. 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 and 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.
N orfo lk 6c W e s te r n .—(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 Deo. 31,1886, 533 miles.
The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor
folk & Petersburg, South Side and the Virginia <feTennessee roads, in all
o f which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi & 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 mortgage, 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 & Nashville) and
$4,000,000 pref. stock were referred to in V. 44, p. 654. Abstract of
mortgage (Fidelity Ins. Trust <fe Safe D . Co. of Phila. Trustee.) in V. 46.
j>. 541.
The management of the company has 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 w ere:
1883.
1884.
1885.
1886.
503
503
510
533
Miles operated.......y
Earnings—
$
$
$
$
Passenger...............
485,805
521,192
458,445
486,231
2,181,711 2,025,087
2,138,120
2,590,827
Freight....................
Mail, express, &c_
145,260
16.4,875
174,555
174,998
Total gross eam ’s.
Operating expenses.
2,812,776
1,509,574
Net earnings............
P.o. of op. ex. to earn
1,303,202
1,194,296 1,121,829 1,291,146
53-7
55-9
60-0
60 29
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
$
$
$
$
1,303,202
1,194,296 1,121,829 1,325,449
$
$
$
$
810,792
953,436 1,139,991 1,184,547
525,000
.........................................................
............
............
55,699
9,239
N et Income...............
Disbursements—
Inter, on bonds, &c..
D ividends................
Miscellaneous...........
2,711,154
1,516,858
2,771.120
1,619,291
3,252,056
1,960,910
Total disbursem’ts. 1,335,792
953,436
1.195,690
1,193,786
Balance for year___ 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, 4 8 2 ,4 9 3 , 4 9 6 ,5 8 6 , 654,751; V. 45, p. 113,
178, 541, 614.)
N ortk C arolin a.—Owns from Goldsboro to Charlotte, N. C., 223 m.
The property was leased Sept. 11, 1871, to the Richmond & Danville
Railroad lor 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 holds
»8,000,000, and the dividends thus received by the State are applied to
her bonds issued to the North Carolina RR. Rental, &c., in 1885-86,
$273,729; expenses, $24,322; balance, $249,407. Rental, etc., in ’86-7,
$274,849; expenses, $24,660; balance, $250,189; div’s paid, $238,698.
N ortk Pacific Coast.—Owns from Saucelito to Moscow Mills, Cal.,
73 miles branch to San Rafael, 2 miles; leased, San Ratael to San
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.
N ortk P e n n sy lv a n ia .—Owns from Philadelphia, Pa., to Bethle
hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lanedale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total
-operated, 88 miles. The Northeast Penn, and the Stony Creek roads art
operated under contract. In May, 1879, was leased to Phila. & Reading
at
p. c. on stock till 1883, and 8 per cent thereafter.
N ortkeastern (S. C.)—Owns from Charleston. 8. C., to Florence,
B. C., 102 miles. Leased jointly, Lane, S. C., to Sumter. S. C., 38 milet.
Total operated, 140 miles. This company has earned the interest on its
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
was authorized, of which $1,142,000 to be held to retire debts of prior
lien. In 1883-84 gross earnings were $569,470; net, $164,946; in 1884-5
gross, $570,058; net, $162,819; in 1885-86, gross, $558,633; net, $121,765; (V. 43, p. 7 1 7 ; V. 45, p. 401,)
N ortkern (C alifornia).—Owns from West Oakland to Martinez, 31
miles; Benicia to Suisun, 16 miles; Woodland to Tehama, 101 miles;
leased, San Pablo & Tulare RR.—Martinez to Tracy City, 47 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. &T. stock $1,861,000. Gross earnings in 1886 were $2,762,750;
net, $1,699,059. W. V. Huntington, President, San Francisco.
N ortk ern , N ew H a m p sh ir e .—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
rental and interest account was $210,275; dividends of 6 per cent,
$179,838. The only liabilities are a guaranty of $500,000 Concord &
Claremont Railroad bonds, of which the Northern RR. owns $200,500;
-(V . 43, p. 184; V. 44, p. 370, 544, 7 1 2 ; V. 45, p. 26, 612, 673.)
N ortkern C en tral.—Owns from Baltimore, Md., to Sunbury, Pa.,
139 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokln
Valley & Pcttsville RR., 28 miles; Elmira & Williamsport Railroad, 78
miles; operated at cost—Chemung Railroad, 22 miles; Elmira Jefferson
& Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie A
Western used 7 miles; total operated, 323 miles. This was a consolida
tion 01 several roads in Dec., 1854. The terms of the several leases w ill
be found under the 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) 01
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 the 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
coal traffic. The fiscal year ends December 31, and the report for
1886 was in the Chronicle, V. 44, p. 273.
Income account for four years was as follow s:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
Receipts—
$
$
$
$
6,088,130
5,521,876
5,490,923 5,474,617
Gross earnings........
Net earnings............. 2,256,525
2,053,482
2,235,309 1,931,949
Other receipts...........
246,843
263,829
254.070
277,348
Total income........ 2,503,368
2,317,311 2,489,479 2,209,297
Disbursements—
$
$
$
$
Rentals l’s’dlines.&c*
557,313
461,761
442,203
'446,997
881,180
935,014
931,272
903,041
Interest on debit.......
Dividends (8 per ct,).
520,000
520,000
520,000
520,000
Miscellaneous...........
41,130
46.511
53,690
44,775
Tot. disbursements. 1,999,623
1,963,286 1,947,165 1,914,813
Balance, surplus...
503,745
354,025
542,214
294,484
* Includes rent of roads and interest on equip, t Includes car trusts.
-(V . 44 p. 83, 149, 2 7 3 , 276, 401, 782.)
N ortkern o f N ew Jersey.—Owns from Bergen, N. J., to Sparkill, N. Y , 21 miles ; leased Sparkill to Nyack, 5 miles ; total oper
ated, 26 miles. This road was opened October 1, 1859. By contract
of April, 1869, it is operated by New York Lake Erie & 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
ing fund and dividends, $262. Gross in 1885, $317,458 ; surplus over
interest, dividends, &c.. $12,303. (V 44, p. 118.)
N o r t k e r n P a c i f i c .—(See M ap.)—Ja s e op R oad—On June 30,1887,
the mileage was made up as follows : Main ]ine—Ashland, Wis., to Wallula 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 07er Cascade Mountains, 7
miles: Payallup Junction to Stuck Junction, 7 miles; Duluth to Supe
rior, 7 miles; Spokane Falls & Idaho R R , 14 miles ; owned, 2,202
miles. Leased and controlled—Brainerd, to St. Paul and branches, 147
miles ; St. Paul to Minneapolis and branches 16 miles; Little Falls & Da
kota RR., 88 miles; Nor. Pac. Fergus & Black Hills RR., 117 miles; Fargo
& Southwestern RR., 87 miles; San. Coop. & Turtle Mount. RR., 37 miles;
Jamestown & Northern RR., 103 miles; Rocky Mount RR. of Montana,
52 miles; Helena & Jefferson Co. RR., 20 miles; James River Valley RR.,
64 miles; Srokane & Palouse RR., 44 miles; Helena & Red Mountain
RR., 16 miles; Duluth & Manitoba RR.. 110 miles; total leased and
controlled June 30,1887, 901 miles; total owned, leased and controlled
N ovem ber,
1887. J
RAILROAD STOCKS AND
BONDS,
84
INYESTOKS’
SUPPLEMENT.
[Vol. XLV.
Subscribers w i ll confer a great fa v o r b y g iv in g im m e d ia te n otice o f a n y error discovered In tbese T a b les.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
.When Due.
Amount Rate per When Where Payable, and by pal
Par Outstanding
of
For explanation of column headings, &c., see notes of
Stocks—Last
Road. BondB Value.
Whom.
Payable
on first page of tables.
Cent.
Dividend.
Norwich & Worcester—Stock........................................
Bonds, coupon............................................................
Ogdensburg <6 Lake Champlain—Stock, common ..
Sinking fund bonds....................................................
Mortgage bonds (redeemable July, 1890)..........
Consolidated mortgage (for $3,500,000)...............
Income bonds, not cumulative................................
Ohio <6Mississippi—Stock, common..........................
Preferred stock (7 p. c. yearly, cumulative)........
1st general mortgage (for $16,000,000).................
1st consolidated mort. ($3,445,000 are s. f . ) .......
Consolidated mortgage, sterling, s. f .....................
2d cons. sink. fund, mort........................................
Spring. Div. (Sp.&Ill. S.E.) IstM . (for $3,000,000)
Omo ¿Northw estern—1st mort., $12,000 per mile..
2d mort., $7,000 per mile.................................. -.
Ohio River—1st mort., gold ($12,000 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)......................
Ohio Talley. —1st mortg., gold ($15,000 p. m .)---Old Colony—Stock.......................................................
Bonds (not mortgage) coupon and registered—
Bonds
do
do
do
—
do
do
do
___
Bonds
do
do
do
....
Bonds
do
do
do
....
Bonds
_____
do
...........................................
Bonds_
Bonds for Framingham & Lowell b on d s.............
Bonds of 1884.........................................................
Bost. Clin. & Fitchb. mort, bonds 1869-70..........
do
mortgage bonds..................
Bost. Clin. F. & N. B. mort, bonds........................
66
66
130
Ì18
118
616
624
393
393
393
222
103
209
132
132
70
476
1877
1870
1877
1880
1880
1882
1868
1868
1871
1874
1886
1886
1886
1887
1881
1881
1886
1874
1875
1876
1877
1882
1886
1884
1884
43 ’ 69-’70
58 1874
120 1880
$100 $2,604,400
4
1,000
400,000
6
100
3,077,000
2
1,000
380,000
8
1,000
600,000
6
500 &c.
2,529,650
6
100 &c.
999,750
3&6
100 20,063,670
100
4,030,000
3*2
1,000
3,216,000
5
1,000
6,501,000
7
£200
112,000
6 g.
1,000
3,715,000
7
1,000
2,009,000
7
1,000
950,100
6
1,000
512,000
5
1,000
2,000,000
5 g.
1,000
1,030,000
5 g•
1,000
2,100,000
6
1,000
2,100,000
6
1,000
1,050.000
5 g.
100 11,364,600
3*2
1,000
1,692,000
7
1,000
500,000
6
1,000
1,100,000
6
1,000
2,000,000
6
1,000
200.000
4^2
1,000
56,000
5
1,000
498,000
1,000
750,000
4
500 &c.
491,500
7
1,000
400,000
7
1,000
1.912,000 1
5
3,103 miles.
Thompson Junction, Minn., to Duluth, is owned jointly
with the St. Paul & Duluth.
O r g a n i z a t i o n .— This company was chartered by act of Congress July
2,1864, to build from Lake Superior to Puget Sound and Portland, Or.
The land grant was 20 sections per mile in States and 40 sections in
Territories. The road was opened 450 miles west from Duluth—to Bis
marck, on the Missouri River—in 1873. Thecompany defaulted Jan.,
1874, and the road was 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
guarantees a rental sufficient to pay their mortgage interest. In Oct.,
1887, this company agreed to a lease jointly with the Union Pacific oi
the Oregon Railway & Navigation Co.’s property. See Y. 45, p. 539.
S t o c k s a n d B o n d s .— The preferred stock has a preference for 8 per cent
in each year if earned, but is not cumulative. The common stock then
takes 8 per cent, and after that both share alike. The pref. stock claim on
net income is subject to expenditures for new equipment. 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 $6,233,000 pref. and $14,075,100 of com. in Oct.,
1887,) was held by the “ Ore. & Trans-CoD. Co.” (See Y. 45, p. 539 )
In Jan., 1883, a dividend in certificates of l lijo p e r cent, amounting
to $4,667,490, was naid on the pref. stock, these certificates falling due
Jan., 1888; but in iune, 1887, the company offered to fund these into a
5-20 6 per cent debenture bond, due 1892-1907.
J. & J. Boston, 2d National Bk.
M. & S. Boston, N. E. Trust Co.
J. Sc J.
Boston, Office.
do
M. Sc S.
J. & J.
do
A. & O.
do
A. Sc O.
do
M. Sc S. N. Y., Union Trust Co. Mar. 1, 1876
J. & D.
do
do
June l r 1932
J. & J.
do
do
Jan. 1, 1898
J. Sc J.
London.
Jan. 1, 1898
A. & O. N. Y. Union Trust Co.
April, 1911
M. & N.
do
do
Nov. 1, 1905
J. & J. N. Y., Merca’le Trust Co. July 1, 1936
A. Sc O.
Cincinnati, O.
April 1, 1926
J. & D. N. Y. Central Trust Co. June 1, 1936
A. & O.
do
do
April 1, 1937
J. & D. N.Y., Corbin Bank’g Co. June 1, 1921
do
June 1, 1921
J. Sc D.
New York.
July 1, 1926
J. Sc J.
July 1, 1887
Boston, Office.
J. & J.
do
March 1,1894
M. & S.
do
June 1,1895
J. & D.
Sept. 1, 1896
do
M. & S.
Aug. 1. 1897
do
F. Sc A.
do
Deo. 1, 1897
J. & J.
April 1, 1891
do
A. & 0.
do
April 1, 1904
A. * O.
July 1, 1904
do
J. Sc J.
1889 Sc ’90
do
J. & J.
July 1, 1894
do
J. & D.
Jan.
1,1910
Boston,
N.
E.
Trust
Co.
J. & J.
Operating expenses and taxes.
1884-85.
$
6,196,301
1885-86.
$
6,156,264
1886-87.
$
7,173,020
Net earnings...............................
Per ct. of oper. exp. to earns ..
5,037,848
55T6.
5,574,263
52-48.
5,616,427
560
1885-86.
$
5,574,263
19,938
243,319
52,578
1886-87
$
5,616,427
12,938
374,549
86,879
IN C O M E A C C O U N T .
Net earnings...............................
Adjustm’t ôf aco’ts & int. b a l..
Dividends on investments.......
General interest account...........
1884-85.
$
5,037,848
24,553
147,359
21,310
Total.....................................
Disbursements—
Interest on funded debt............
Rentals........................................
Guarantee to branch roads.......
Contributions to sinking fund..
Miscellaneous.............................
5,231,070
5,890,098
6,090,793
4,123,949
581,144
352,154
50,376
27,341
4,339,094
670,748
673,650
55,633
39,774
4,456,536
752,757
696,650
112,698
6,445
6,025,0=6
5,778,899
Total........ ............................
5,139,111
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,
3 6 8 , 369, 37 0 , 373, 401, 437, 438, 472, 509, 539, 572, 614, 64’ .)
N orthern Pacific T e rm in a l 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
Oregon & California RR., with a guaranteed rental sufficient to pay
interest, sinking fund and taxes. The sinking fund begins in 1893 and
is to be sufficient to retire the bonds by maturity, which bonds may be
drawn at 110 and interest. The stock of $3,000,000 is owned by said
three companies (40 per cent by Ore. Railway & Navigation Co._, 40 per
cent by Northern Pacific and 20 per cent by Oregon
California RR.),
and held by Central Trust Co. of New York, to be delivered after pay
ments to the sinking fund which is to cancel the bonds.
N orthw estern O h io .—Owns from Toledo Junction to Toledo, O.,
80 miles, and leases 7 miles, from Mansfield to Toledo Junction. This
was a consolidation of the Toledo Tiffin & Eastern, the Mansfield Coldwater & Lake Michigan and the Toledo & Woodville roads. Leased to
Pennsylvania Company at cost of operating. In 1886 gross earnings
$295,942; net, $72,469. In 1885 gross earnings, $269,510; net, $75,067.
N orw ich Sc W o rce ste r.—Owns from Norwich, Conn., to Wor
cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
total, 66 miles. Operated under temporary lease by N. Y. & New Eng
land Railroad. In" February, 1885, it was voted to reduce the rental
to 8 per cent. In the fiscal year ending Sept. 30.1886, the gross receipts
were $748,659; net, $274,377; payments for rentals. $40,475; interest
$24,157; dividends, $207,824; surplus, $21,921. (V. 43, p. 607.)
O gdensburg Sc L a k e C h am p lain .—Owns from Rouse’s Point,
N. Y., to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles.
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.
Gross earnings 1885-6, $562,772; net, $223,445; surp. over int. charge,
$12,362. In 1886-7, gross earnings $683,213; net, $229,200. (V. 43, p.
2 2 , 580, 719 ; V. 44, p. 212, 714, 808; V. 45, p. 272, 564.)
Ohio Sc M ississip p i.—(See Map o f Baltim ore <&Ohio.)—Owns from
Cincinnati, Ohio, to East St, Louis, 111.. 338 miles; Louisville branch,
North Vernon to Jeffersonville, Ind., 53 miles; total Ohio & Miss, line,
391 miles; the Springfield Division, Beardstown to Shawneetown, 111.,
225 miles; total operated, 616 miles. The Eastern and Western divis
ions were sold in foreclosure and the Ohio & Mississippi Co. formed by
consolidation Nov. 21,1867. The terms of preference in the preferred
stock certificates read as follow s:
“ The preferred stock is to be and remain a first claim upon the pro
perty of the corporation, after its indebtedness, and the holder thereof
nhaH be entitled to receive from the net earnings of the company 7 per
cent per annum, payable semi-annually, and to have such interest paid
in full for each and every year before any payment of dividend upon
the common stock; and whenever the net earnings ”
*
*
*
*
“ shall be more than sufficient to pay both said interest of 7 per cent on
the preferred stock in full, and 7 per cent dividend upon the common
stock for the year in which said net earnings are so applied,” then the
excess sha’l be[divided equally, &c.
Fiscal year ends June 30; report for 1880-87 in V. 45, p. 671.
1884-85.
18E5-86.
1886-87.
Total gross earnings............... $3,645,467 $3,671,920 $3,988,433
Common stock: I n ’80, 20@36; in ’81, 32^®51; in ’82, 28%'@543s; in
*83 , 2316@53:ls; in 84, 14®27; in '85, 15-® 3lii; i n ’ 86, 22@313s; in
’87 to Nov. 18, in c l , 20®348sI ft
The consol, first mortgage bonds are a first lien on the main line; and
on all the lands of the company except those subject to the two divisional
mortgages andthoselandseastof the Missouri River which are subject to
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
bonds, instead of principal, if the earnings of the road are insufficient.
Central Trust Co. of N. Y. is trustee. The bonds are received in pay
ment for lands at 110 and interest, and proceeds of land sold must be
applied to redemption of these bonds at a price not exceeding 110 and
interest. Sinking fund of one per cent per annum of the total amount
of bonds issued began in 1886. and the bonds may be drawn at 110,
After 1888 a similar sinking fund begins for (he 2d mortgage bonds.
The 3d mortgage for $12,000,000 was authorized Nov., 1887. See V.
45, p.614. The total issue of the Missouri Division (Bismarck on Mo.
Riv. to Yellowstone Riv. 205 miles) and Pend d’Oreille Division (June
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
the Northern Pacific first mortgage bonds; the proceeds of land sales
are applied to redemption of these divisional bonds at par.
The James River Valley bonds are on the road from Jamestown, Dak.,
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.
The Spokane & Palouse RR. extends from Marshall on the main line to
Belmont, 43 miles. It is leased to the N. P. for 999 years, the N. P. pay
ing the interest and sinking fund requirements as rental. The bonds are
issued at $16,000 per mile, and are redeemable at 105 after 1896.
The Duluth & Manitoba road, Winnipeg Junction, Minn., to E. Grand
Forks, 110 miles, is leased, with guaranteed rental to pay interest, and
sinking fund beginning June 1, 1897, sufficient to redeem the prin
cipal by maturity; bonds drawn at 105. Trustees of mortgage, Farmers’
Lean & Trust Co. (See abstractof mortgage, Chronicle, V. 45, p. 273.)
Helena & Red Mt., Helena Boulder Valley & Butte and Drummond &
Philipsburg 1st mort. bonds are guaranteed by Nor. Pacific and redeem
able, the first after March, 1897, the second after May, 1897, and the
third after June 1,1897, by sinking fund drawings at 105.
Other roads leased .and guaranteed sufficient earnings to pay interest
are named under Oregon Trans-Continental.
L ands.—The land grant of the company was 12,800 aores per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30,1887, were estimated to be about 46,758,400
aores, of which about 40,618,921 remained unsold. The lands
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre
ferred stock, and that stock is received in payment therefor. The
general mortgage bonds cover all the other lands, the divisional mort
gage» having prior liens on theiF respective divisions. For the fiscal
year 1886-7 land sales were 310,355 aores for $1,052,796, including
town lots.
From July 1 to Sept. 30, in 1887 (3 mos.), gross earnings were $3,910,372, against $3,699,057 in 1886; net, $1,841,651, against $1,962,511.
Fiscal year ends June 30. Report for 1886-87 was in V. 45, p. 192,
368, 370.
IN C O M E A C C O U N T .
1884-85.
1885-86.
1886-87. Net earnings..................................
$974,731
Miles oper’d June 30................
2,668
2,808
3,093
Disbursements—
Jtarnings—
$
$
$
on debt.............................. $1,024,900
Passeneer...................................
3,075,882
2,897,218
3,269,703 Interest
49,000
Freight'........................................
7,446,266
8,189,614
8,730,547 Sinking fund..............
Mail, express, &e..'....................
712,001
643;695
789,197
Total.......................................... $1,073,900
11,234,149 11,730,527
12,789,447 Balance............................................ def.$99,169
July 10, 1887
March 1, 1897
July 10,1876
Mar., 1890
1897
April 1,1920
April, 1920
$1,074,212 $1,337,953
$1,026,415 $1,024,716
57,000
53,000
$1,079.415 $1,081,716
def.$5,203sur.$256,237
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SUPPLEMENT.
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Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in tbese T a bles.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
For explanation of column headings, &c., see notes of
Par Outstanding
Stocks—Last
of
on first page of tables.
Road. Bonds Value.
Whom.
Dividend.
Cent. Payable
Omaha A St. Louis—1st M., gold.............................c*
Orange Belt—1st mort., gold, $5,000 per m ile ........
Oregon A California—1st M .,gold ($20,000 p .m .)..
2d mortgage, $10,000 per mile................................
Oregon Pacific—1st morf., land grant, gold.............
Oregon Railway A Navigation—Stock.......................
Mort. bonds, gold, sink. fd. (drawn at 100)........ c
Consol, mortgage, gold, $25,000 per m ile.......c&r
OregonShortL.—ist,gld.,int.gu.byU.P.($25,000p.m>
OregonA Trans-Conhnental—St’ck(for $50,000,000)
Trust bonds, gold (IstM. collateral) $20,000p.m..
Oswego A Rome—1st mortgage guaranteed.............
Income mortgage bonds..........................................
Convertible bonds ............................................... .
Oswego A Syracuse—Stock, 9 per cent guar.............
Consol, mortgage (guar. D. L. & W .)......................
Construction M., guar. prin. &int. (for $1,000,000)
Owensboro A Nashville—1st mortgage, gold.............
Collateral trust (4u0,000.).......................................
Panama—Stock.............................................................
General mortgage, sterling, (£697,800)................
Sinking fund subsidy, gold...............„......................
P aris A D ecatur-S ee Teire Haute & Peoria............
144
34
451
451
706
706
610
497
28
35
123
84
48
48
48
15
Pennsylvania—Stock.................................................... 2,322
Ger.. M., Ph. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pav’biem annual inst’lm’ts of $460,000) ___
Consol. M., coup. J. & D., & reg. Q.—M. (s. f. 1 p. c.)
Consol, mortgage, gold..............................................
Bonds, reg. (P.W. & B. stock deposited as collat’l) 57 i
Collateraftriist loan (gold, coup., may be reg.) —
Car Trust certs, (in series payable lioth yearly) .. . . . .
Navy Yard bonds reg. (extended 20 years in ’81) . . . .
1887
1887
1881
1883
1880
1879
1885
1882
1882
1865
1866
1866
1876
1883
1881
1883
.
1867
1880
1870
1873
1879
1881
1883
___
1875
$1,000
1,000
1,000
1,000
1.000
100
1,000
1,000
1,000
100
1,000
1,000
1,000
50
1,000
1,000
5,000
100
£200
1,000
50
1,000
1*000
1,000
1*000
1,000
1,000
The new general mortgage for $16,000,000 was authorized under
the plan of reorganization, by which $12,784,000 was reserved
to exchange for old bonds as they mature; $2,216,000 used in
paying overdue coupons and all other claim s; and $999,695 expended
lor new equipment and terminal facilities.
From July 1 to Sept. 30,1887 (3 mos.) gross earnings were $1,140,657,
against $1,106,792 in 1888; net, $452,798, agst $402,059—(V. 43, p. 73,
162, 275, 368, 459,487, 5 1 4 , 548; V. 44, p. 60,185, 309; Y. 45, p. 113,
539, 6 7 1 .)
O lilo Sc N orth w estern .—( See Map.)—Hoad from Cincinnati, O., to
Portsmouth, O., 103 miles, and branches 20 miles, and 71 miles more
under construction. The Cin. & Eastern, sold in foreclosure Jan. 5,1887,
was purchased »y this company and changed to standard gauge.—V. 44,
p. 59. The authorized 1st mortgage bonds are $2,000,000 at $12,000
er mile, and seconds $1,200,000 at $7,000 per mile. Stock authorized,
4,000,000; issued, $2,000,000. (Y. 44, p. 421; V. 45, 673.)
O hio R iv e r .—(See Map.)—Road extends from Wheeling, West Va.,
to Point Pleasant, West Va., 169 miles, and in progress to Huntington,
West Va., 40 miles. The stock outstanding is $3,290,700. The out
standing bonded debt is equal to $16,3u8 per mile, of whioh $11,834 is
1st mort. and $4 92 4 general mort., the annual int. charges being $815 40
per mile. In 1886 earnings on 90 miles were $197,970 gross and
»83,782 net, or $9 31 per mile. The road was completed to Point Pleasant
Jan. 8,1887, but was not fully opened for business untilMarch 27,1887.
A comparative statement furnished by the company of the earnings for
5 months from April 1 to August 31—for 1886 and 1887—is as follows
1886.
1887.
Inc. over ’86.
90
169
87 7-10 p r cent.
Miles operated...^.............
$84,620
$156,962
85
per cent.
Gross earnings....................
48
per cent.
75,968
Operating expenses............ 51,166
$80,994
142
per cent.
Net earnings....................... $33,454
....$63,125
Interest on 1st mortgages
Geo. W. Thompson, President, Parkersburg, W. Va. (V. 44, p. 434.)
O h io Sou th ern .—The road will extend from Springlield, 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; net, $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.
O hio V a lle y .—Projected Evansville, Ind., to Jackson, Tenn.. 200
m .; completed from Henderson, Ky., to Princeton on the Ches. Ohio &
Southwest rn, 70 m. P. G. Kelsey, President, Henderson, Ky.
Old. C olon y (M a ss.)—Owns from Boston to Provincetown, 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 iles; leased—Fall River Railroad, 12 miles; total owned and leased,
476 miles. In March, 1883, consolidation with the Boston Clinton
Fitchburg & New Bedford was made. In Nov., 1887, a lease of Bos
ton & Providence road was proposed for 99 years. Report for 1886-87
was in V. 45, p. 612. Fiscal year ends Sept. 30:
INCOME ACCOUNT
1883-84.
1884-85.
1885-86.
1886-87.
Receipts—
$
$
$
$
Gross earnings.......
4,191,872
4,251,186 4,528,032
4,865,571
Net earn ings..........
1,296,503 1,281,056
1,302,929
1,332,576
Other receipts.... ..
68,998
79,334
89,931
95,215
Total in com e....
1,365,501
1,360,390 1,392,860
1,427,791
Disbursements—
$
$
$
$
Rentals paid............
46,614
45,594
32,694
16,134
Interest on debt.......
556,866
551,424
582,534
597,897
Dividends.....................
723,989 738,122
761,747
788,616
Rate of dividend...
7
7
7
7
Improvem’t account
38,032
25,250
15,885
25,144
Total disburse’ts.
1,365,501
l,30O,ay0 1,392,860
1,427,791
—(V. 4 3 ,p. 5 4 6 ; V. 45, p. 612.)
O m a h a A St. L o u i s .—Owns road from Council Bluffs, la., to Pattons
burg, Mo., 143miles. Thiscompanywasformedinl887aP8uccessortothe
Omaha Division of the St. Louis K. C. & 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. In 1886-87 gross earnings were $794,931;
net $169,451. (V. 44, p. 713, 808,809, 812, Vol. 45, p. 213.)
O r a n g e R e l t . —(See Map)—From Monroe, on the Jacksonville Tam
pa & K. W. road, to Ced. Hammock, 64 m.; under contract to be completed
to Point Pinellas, 150 m. in all, by Jan., 1888. The bonds are 5-20s,
and may be redeemed after Jan., 1892. Tney are guaranteed by the
Orange Belt Investment Co., and are issued at $5,000 per mile. Bonds
offered in New York by Griswold & 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 $40,000 a year net.
$2,717,000
320,000
9,020,000
2,610,000
25,000 p.m.
24,000,000
5.547,000
8,593,000
14,931,000
40,000,000
10,063,000
350,000
152.000
107.000
1,320,400
438.000
668.000
2,000,000
80,000
7,000,000
3.489.000
2,687,000
4 g.
6 g.
6 g7
6 g.
1*2
6 g.
5 g.
6
1*3
6 g7
7
7
4*a
7
5
6 g.
6 g
2
7 g.
6 g.
630,000
98,521,300
19,999,760
1,522,071
27,482,930
4,998,000
8,174.000
9,900,000
7,790,000
1,000,000
4
3
6
5
6
5
4
4iag.
5, 4
5
A. N. Y., Del*., L. & W. RR.
S.
do
do
N.
N.
New York.
A.
do
J.
New York, Office.
0.
London.
N.
New York.
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
May, 1923
Nov. 1, 1931
Aug. 1, 1888
July 1, 1885
’88 t o ’89 & ’97
Nov. 1, 1910
J. & J.
New York.
M. & N. Philadelphia, Office.
Q.—J. Philadelphia & London.
A. & O. Philadelphia, Office.
Q —M. Philadelphia & London.
J. & D.
do
do
J. & J.
do
do
J. & D.
do
do
Q’rt’rly
Philadelphia.
J. & J. Phil.,Pa., Co., for ins.&c.
July 2, 1887
Nov. 30, 1887
1910
Annually.
June 15,1905
Dee. 1, 1919
July 1, 1921
June 1, 1913
1891-93
Jan. 1, 1901
J. & J
J. & J.
J. & J.
A. & O.
A. & O.
Q.—J.
J. & J.
J. & D.
F. & A.
Q.—J.
M. & N.
M. & N.
F. & A.
F. &
M. &
M. &
M. &
F. &
J. &
A. &
M. &
New York.
N. Y. .Farmers’ L.&T.Co.
Last paid June, 1884.
Last paid Oct., 1884.
New York and London.
New York Office.
do
do
do
do
N. Y. Union Trust Co.
N.Y.,Farmers’L.& T.Co.
N.Y.,Farmers’ L.&T.Co.
N. Y., Central Trust Co-
Oregon Sc C aliforn ia.—From Portland, Or., to Ashland, 341
Biles; Albany Junction to Lebanon, 12 miles; West Side Division, Port
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed
bo a junction with Central Pacific at the California State line. The
original Oregon & California was in default after 1873 and reorganized.
The land grant is about 4,000,000 acres.
in January, 1887, a modified plan of agreement for reorganization
with the Central Pacific was reported, of which the terms were given in
the Chronicle, V. 44, p. 118, 370.
Gross earnings in 1886 were $971,792; net $221,184; other receipts,
$16,177; deficit under interest, sinking fund, etc., $368,574. (V. 44, p.
118, 3-70, 654.)
Oregon Pacific.—Road in progress and 83 miles, from Albany to
Yaquina, on Yaquina Bay, completed. Land grant, over 900,000 acres,
and covered by first mortgage. In June, 1837, a syndicate was reported,
as having taken the balance of first mort. bonds to complete the road.
Stock is $30,000 per mile. T. E. Hogg, President, CorvaUis, Oregon.
N. Y. Office, 45 William Street. (V. 44, p. 752; V. 45, p. 543.)
Oregon R a ilw a y Sc N av ig a tion .—Owns East Portland, Ore
gon to Wallula, W. T „ 211 miles; Walla Walla to Riparia, 56 miles;
Bolles Junction to Dayton, 13 miles; Pataha June, to Pomeroy, 30
m iles; Walla Walla to Milton, 13 m iles; Pendleton to Centreville, 17
miles; Umatilla to Huntington, 217 miles; total owned, 557 miles.
Leases—Palouse Junction to Colfax, 89 m iles; Colfax to Moscow, 28
miles; Colfax to Farmington, 27 miles; Wallula to Walla Walla, 31
miles; Blue Mountain to Milton, Ore., 7 miles; Cascade Railroad, 6
miles; total operated, Jan. 1,1887, 746 miles. Ocean line between San
Francisco and Portland, 670 m iles; Puget Sound lines, 275 miles;
River lines, 363 miles; total of water lines, 1,308 miles.
Of the consol, bonds $6,000.000 are reserved to take up the old mort.
bonds; there is a sinking fund of over $60,000 per year, and 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 Trans
continental Company, which still held, Oct., 1887, some $11,841,300.
In April., 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. R. & N. Co.’s stock, and in Oct., 1887,
the Northern Pacific joined the U. P. as lessee. (See terms &o., V. 45,
p. 539.) See abstract of lease, V. 45, p. 539.
From July 1 to Sept. 30, in l8 87 (3 mos ) gross eam’gs were $1,310,396,
against $1,437,968 in 1886; net, $606,867, against $682,537.
For the year ending June 30,1886, the income account showed net
surplus of $41,979 over charges and 6*2 per cent dividends.
- (V . 44, p. 60, 91. 141, 204, 212, 276, 309, 392, 434, 466, 551,621,752;
V. 45, p. 84, 211, 473, 539, 614.)
Oregon Sliort L in e .—Road from Granger on the Union Paciflo
(156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington, Oregon, 541 miles, with Wood
River branch to Ketchum, 70 miles. Total, 610 miles. Interest on the
bonds is guaranteed by the Union Pacific. The stock is $14,073,600.
Union Paciflo owns a majority of the stock and $2,195,000 bonds. This
company, in April, 1887, leasod the Oregon Railway & Nav. Co.’ s lines
for 99 years, agreeing to pay the iuterest on bonds and 6 per cent on
stock; the lease being guaranteed by Union Pacific.
Gross earnings in 1886, $1,942,107; net, $594,686; taxes, <feo., $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. 44, p. 149,185, 309.)
Oregon Sc T ra n s-C o n tin e n ta l.—Company organized under the
laws oi Oregon on June 27,1881, and received from the “ Villard Pool”
an 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. & Nav. Co.
$6,233,000 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
$4,050,000, at 5 per cent, for three years, secured by collaterals. The
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. & Nav. stock, 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
chare© of one per cent. The roads thus mortgaged are: The No. Paci
fic Fergus & Black Hills RR. of Minn., 117 miles, $2,342,000; Little
Falls & Dakota RR., of Minn., 88 m., $1,757,000; Jamestown & North
ern RR. of Dakota, 102 m., $2,050,000; Fargo & Southwestern RR.Ot.
Dakota, 87 m , $1,748,000; Sanborn Cooperstown & Turtle Mountain
RR., 37 m., $730,000; Rocky Mountain RR., Montana, 52 m., $4,034,000; Helena & Jefferson County, 20 m., $402,000; total. 503 miles—
at $20,000 per mile—$10,063,000 in bonds. (V. 43, p. 162; V. 44, p. 118 ;
Y. 45, p. 272, 305, 509, 539, 572.)
O s w e g o SC R o m e . —Owns from Richland, N. Y.. to Oswego, N. Y.,
29 miles. Road opened Jan. 1, 1886. It is leased to the Rome Watertown & Ogdensburg RR. at 8 per cent on its stock ($275,000 com. and
$75,000 pref.) and 7 per cent, on guar, bonds, pref. stock being reprei sented by conv. bonds. $62,100 of bonds due 1870 are yet outstanding
BONDS.
AND
STOCKS
BAILKOAD
1887.]
N ovem ber,
8 8
INVESTORS’
SUPPLEMENT.
[Y ol . x l v .
N ovem ber,
18Ö7.J
JRAILROAD STOCKS AND
BONDS,
89
Subscribers w i l l con fer a great fa v o r by g iv in g im m ed ia te n otice o f an y error discovered In these T a b les.
DESCRIPTION.
on first page of tables.
Bonds—Princi
I
INTEREST OR DIVIDEND.
Miles Date Size, or
pal,When Dne.
Amount Rate per
of
of
Par
When
Stocks—Last
Where
Payable,
and
by
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
3,317
Pennsylvania Company—Stock.......................
Reg. bonds, secured by P. FT.W.& C. special stock . . . .
....
Bonds, gold, secured by pledge and guarantee—
105
Pennsylvania dt New YorJc—1st mort., guar.............
105
1st mortgage, guaranteed.........................................
Pennsylvania Schuylkill Valley—Stock.................... 142
1st mortgage bonds, registered............................... 112
Pensacola <&Atlantic—1st m. g, (guar, by L. & N.).. A ll.
Peoria <&Bureau Valley—Stock.................................
47
254
Peoria Decatur dt Evansville—Stock............. ...........
1 to
1st mort., gold (Pekin to Mattoon)..........................
7 f*
1st mortgage (Evansv. Div.)..................................
P. D. & E. 2d mortgage, gold...............................c* 233
___
Car Trusts (payable $48,000 per annum...............
Peoria dt Pekin Union—1st mortgage, gold, coupon
20
20
Second mortgage, gold (issued for incom es).......
38
Perlciomen—1st mortgage...........................................
Consol, mort., gold, guar. P. & R., (sink, fund)---38
11
Peterborough (N .H .)—Stock..................... ......... .—
Bonds (not mort.), redeemable after 18 8 2 ............
Petersburg—S to ck .................... ..................................
63
Guaranteed pref. stock, 6 per cent......................... . . . .
82
1st mort. bonds (payable $25,000 yearly)............ .
....
Mortgage bonds, class A ....................................... .
___
Mortgage bonds, class B ............................. ............
Philadelphia <&Balt. Central—Stock..................... .
79
1st mortgage (for $2,500,000).................................
79
Westchester & Phila., 1st m ortgage..........
27
Philadelphia dt Erie—Stock, common.............
287
Preferred stock, special.......................c—
......... 287
1st mort., Sunbury& E. (extended 20 years in ’77).
40
2d mortgage............................................... ............... 287
$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
1883
1,000
6,100,000
1881
1,000
3,000,000
....
100
1,500,000
....
8,400,000
1880
1,000
1,287,000
1880
1,000
1.470,000
1886
1,000
2,088,000
....
229,000
1881 1*1,000
1,500,000
1881
1,000
1,500,000
1867
100
799,600
1873
1,000
1,125,000
100
385,000
1877 500 &c.
34,000
....
100
1,000,700
....
50
323,500
1869
....
275,000
1881
....
643,000
1881
800,000
....
50
2,495.650
1881
1,000
1,000,000
1871 100 &c.
1,100,000
.... j
50
7,975,000
....
50
2.400,000
1857
1,000
976,000
1868
1,000
3,000,000
1877
1881
1866
1866
4
6
Q .^ j.
4ifig. J. & J.
7
J. & D.
7
J. & D.
For 1883
Pittsburgh, Co.’s Office
Phila. Tr. S. D. & I. Co. July 5, 1907
N. Y., Nat. City Bank. July 1, 1921
Phila., B’k N. America. June 1, 1896
do
do
June 1. 1906
5
6
4
J. & D. Philadelphia, Penn. RR. Deo. 1, 1935
[F. & A. N. Y., Comp’ys Agency. Aug. 1, 1921
F. & A. N. Y., Chic., R. I. & Pac.
Aug., 1887
6 g.
6
5 8■
7
6 g.
4 1flg
6
6 g.
3
6
7
J. & J. N. Y., Central Tr. Co.
M. & 8.
do
M. & N.
do
Various
do
Q .-F . N. Y., Central Trust Co.
M. & N.
do
do
A. & O.
Norristown, Pa.
J. & D .
Aprii.
Nashua, Treasurer.
A. & O. Boston, N. E. Trust Co.
Feb. 1, 1921
Feb. 1, 1921
(?)
June 1, 1918
4pril 11,1887
Oct. 1, 1897
8
5
6
:i. & j.
j . & j,
A. & O.
July 3, 1887
Ian., 1888-’98
July 1, 1926
Oct. 1, 1926
5
7
M. & N. Phila. Company’s Office. Nov. 1, 1911
A. & 0.
do
do
April 1, 1891
7
7
Philadelphia, Pa. RR.
A. & 0. Philadelphia, Pa. RR.
J. & J.
do
do
3
Petersburg, Va.
do
Jan. 1,1920
Oct. 1, 1897
July 1, 1888
O sw ego Sc S y r a c u s e . —Owns from Oswego, N. Y., to Syracuse,
IN C O M E A C C O U N T O P P E N N S Y L V A N IA R A IL R O A D C O M P A N Y .
N. Y., 35 miles. Leased in 1868 to the Delaware Lack. & West. RR. Co.
1884.
1885.
1886.
or 9 per oent per year on stock and interest on bonds.
Net income Penn. RR. Division.$10,185,529
$8,153,685
$8,974,970
593,536
159,497
179,016
O w ensboro Sc N ash v ille.—Owns from Owensboro, Ky., to Adair- Net loss New Jersey Division . B a la n ce................................ $9,591,993
$7,994,188
ville, K y.,84 miles. Controlled in 1879 by the Nashville Chattanooga
$8,795,954
& St. Louis, and now operated by Louis. & Nash. RR., which owns a From this balance deduct:—
majority of the stock. Of the IstM . bonds $1,000,000 are pledged for the Advances to Pennsylvania Co.
($1,667,733).............................
$ ............
$1,000,639
collateral trust bonds. Gross earnings for 1886-87, $204,263; net
$667,093
600,000
58,621
$65,549 ; deficit under interest and taxes, $1,317. Gross in 1885-6, Payments to trust fund.............
69,895
Consol,
mortgage
redeemed
.
.
.
.
277,460
324,830
324,800
$169,376; net, $35,678; deficit under interest and taxes, $15,498. Stock
Allegheny Val. RR.—Deficiency
698,320
701,576
is $1,156,517.
698,390
Fred. & Penn. Line RR.
do
15,000
15.000
15.000
P a n a m a .—Owns from Aspinwall to Panama, 48 miles. Opened Am.
............
88. Co.—To meet int. guar.
90.000
90.000
through J an.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 line pool in 1886............
............
411,972
1897. The $2,687,000 subsidy bonds are secured by a pledge of the
destruction of property at
sum of $225,000 annual subsidy payable to the U. S. of Colombia by For
New
Brunswick,
N.
J..............
............
265,000
the company. In June, 1881, most of the stock was sold to parties
$1,590,780 $2,190,666
$2,542,150
interested in the De Lesseps Panama Canal Co. The report for 1886 was
$5,803,522
$6,253,804
In Chronicle , V. 44, p. 465, showing net income of $645,360, and a Balaace to credit of income__ , $8,001,213
. 6,560,787
4,738,892
4,738,892
surplus of $118,58 L over charges. (V. 44, p. 212, 4 65.)
(5)
(5)
17)
P aterson & H u d s o n .—Owns from Jersey City, N. J., to Pater Rate of dividend.
son, N. J., 15 miles. The road was opened in 1834, and leased
$1,440,426
$1,064,630
$1,514,912
In perpetuity September 9,1852, to the New York & Erie, at a rental of Balance of old accounts, &o.
1,020.692
363,355
623,756
$48,400 per year, and is operated by the New York Lake Erie & Western
$701,275
$419,734
$891,156
as part of its main line. J. S. Rogers, President, New York City.
. 13.613.184
14.032.918
14,734.193
P e n n sy lv a n ia .—[See Map)—Line op R oad —The Pennsylvania sys
tem embraces about 5,639 miles of railroad, including all east and west Balance profit andloss Deo. 31.$14,032,918 $14,734,193 $15,625,349
of Pittsburg, At the close of 1886 the mileage operated east of Pitts —V. 43, p. 115.132, 245, 352, 368, 431, 516, 635, 774; V. 44, p. 149,
burg & Erie, on which earnings as reported were based, was divided as 276, 288, 3 0 7 , 3 1 2 , 401, 466, 551,621, 681, 694, 809; V. 45, p. 13,
follows: Pennsylvania Division and branches, 1,568; Philadelphia* 113,143, 272, 437, 500, 572, 614.)
Erie Division, 287; United Railroads of N. J. and branches, 466; total
P en n sy lv an ia C om p an y.—The Pennsylvania Company is a cor
operated, New York to Pittsburg, with branches, 2,322.
chartered by the Pennsylvania Legislature, April 7,1870, dis
Organization , L eases, &c.—The charter of the Pennsylvania Rail poration
tinct
from the Pennsylvania RR., and it operates all the leased lines west
road was dated April 13,1846, for a line from Harrisburg to Pittsburi
The stock is owned by the Pennsylvania RR.
The line from Harrisburg to Philadelphia was under other organizations, of Pittsburg.
registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy & W.The
& Chic, special stock. The goldbonds of 1921 are secured by a deposit
Lancaster is still operated under a lease though forming part of the in trust
the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
main line. Road opened in 1854. The terms of the leases will be found railroadsofand
are also guaranteed by the Penna. RR. Co. The trustees
under the names o f the respective leased roads.
of
the
mort.
are Wistar Morris, Edmund Smith and 8. M. Felton. The
The Pennsylvania Company was organized in 1870 as an auxiliary
corporation to control all the lines west of Pittsburg & Erie, and the sinking fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlled
Pennsylvania RR. Co. holds all the stock of the Pennsylvania Company.
by this company is 4,083. The income account of the company showed
Stock and B onds.—The Pennsylvania Railroad stock has been in net
profits over all liabilities, including fixed charges, of $1,867,883 in
creased from time to time, chiefly by the sale of stock at par to stock 1882;
$872,829 in 1883; deficit in 1884 of $710,220; deficit in 1885 of
holders, for the purpose of raising capital for new acquisitions or better $1,094,671;
deficit in 1886 of $200,674.
ments. The dividends paid each year since 1870 have been—in 1871,
P
en
n sy lv an ia Sc N ew York: (C anal and R a ilw a y ).—Owns
1872,1873 and 1874, 10 per cent each year; in 1875 and 1876, 8 per
oent each yea r; in 1877, 4 ; in 1878, 2 ; in 1879, 4 ^ ; in 1880, 6 and 1 from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York State
per cent in scrip; in 1881, 8 ; in 1882, 8*2 ; in 1883, 8^ ; in 1884, 7 ; Line, 104 miles. Branches to mines, 23 miles. Operated in connection
with the Lehigh Valley Railroad as a northern outlet. Common stock,
InJL885 and in 1886, 5.
have been— $1,061,700, and preferred stock, $4,000,000. Gross earnings in 1885-86,
3230®513s; $2,268.574; net, $662,383. Gross in 1884-85, $1,827,460; net, $325,,,, „
561s@64%; 040.; 7 per cent div. paid on pref. stock in ’85 and 8 in July, ’87.
.
.
- ------------------------------ -- ~
i n ’84, 49J4@61; m ’85, 45%@56is; in ’86, Siaga-eo^i; .in ’87 to Nov.
P en n sy lv an ia S ch u y lk ill V a lle y .—Owns from Philadelphia to
18, m c l, 5378'd>t 0.
New Boston, Pa. 101 miles, and Frazer to PhcBnixville, 40 1« miles.
In March, 1881, the company purchased 217,819 shares of the Phila This was formed in 1886 by the consolidation of several companies, and
Wilm. & Balt RR., and the 4 per cent bonds secured by P. W. & B. stock is controlled by the Pennsylvania RR. Co. The bonds are owned by the
are purchased yearly at not over par with the surplus proceeds of Ph Pennsylvania RR. and issued in pieces of $100,000, convertible into
¥ • « B. dividends and not needed for the payment of interest.
$t ,000 bonds. There is a sinking fund of 1 per cent. Gross earnings in
The collateral trust loan of 1883 is secured by the deposit of mortgage i885, $360,482; operating expenses, $400,585. Gross in 1886, $532,bonds of subsidiary lines to the par value of $12,500,000.
143; net, $41,491. J. N. DuBarry, President.
Operations, F inances, &c.—The total cost to the Pennsylvania Rail
Pensacola Sc A tla n tic .—Pensacola, Fla., to River Junction, Fla.,
road Co. of the stocks and bonds of other companies held in its treasury 160
Road completed Feb., 1883. Operated by Lou. & Nash, sinoe
up to Dec. 31,1886, $104,261,013 (par value of the same $137,- Jan.,miles.
ana connects its system with the roads of Florida and So.Ga.
371,026, most of which is represented on the other side of the balance Stock,1885,
$3,000,000.
In June, 1887, the company had acquired 1,800,000
Meet by issues of Penn. Railroad stock and bonds and other debit items, of the 4,000,000 acres
of land granted by the St a e of Florida. In 1886-7
the balance to credit of “ profit and loss” was $15,625,348.
220,358
acres
were
sold
for $156,562. In addition to the bonds above
A scheme to buy up the company’s guaranteed securities with 1 per given there are $975,000
6 per cent land grant bonds issued to the
cent of the net income per year is in operation, and he entire amount Louis & Nash., RR. Earnings
for year ending June 30,1886, $294,616
paid by the company into the Trust up to the end of I 880 was $3,828,- gross and $33,679 net; interest
on bonds, $180,000; other interest.
517. There had been purchased for the fund securities of the par $38,686; taxes, $19,539; construction,
$19,950; deficit, $224,496.
value of $5,135,150. which yielded an interest of 6 83 per cent per
P eoria Sc B u reau V a lle y .—Owns from Bureau Junction to Peo
annum upon me purchase price.
From Jan. 1 to fc'ept. 30,1867 (9 mos.), gross earnings on lines east of ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
Pittsburg and Erie were $41,053,674, against $36,866,283 in 1886; net, the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
$14,123,655, against $12,971,832 in 1886. Surplus on lines west of
P eoria D ecatur Sc E v a n sv ille .—Owns from Pekin, to Evansville,
Pittsburg and Erie, $1,035,928 in 1887, against deficit of $92,436 in ’ 86. 235 miles; branch—Stewartsville, Ind., to New Harmony, Ind.. 6
The report for 1886, was in the Chronicle, V. 44, pp. 307 and 312. miles; leased, Pekin, 111., to Peoria, 111., 10 miles; through Decatur,
A summary of the total business of 1886, compared with previous- 3 miles; total, 254 miles. This road is a consolidation of the
years, is shown in the following :
Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the
E A R N IN G S O N A L L L IN E S B O T H E A S T A N D W E S T -O P P IT T S B U R G * E R IE . Decatur Mattoon <fc So. and the Grayville & Mat. The road is operated
in
harmony with the Evansville & Terre Haute. In Dec., 1886, stock
1884.
'
1885.
1886.
holders voted to exchange the income bonds for 5 per cent 2d mortgage
Gross earnings...................... $97,849,875
$92,994,549 $101,697,981 bonds,
and the exchange was made in March, 1887. (See full statement
Operating expenses............... 64,434,317
61,690,901
67,102,714 of the company
and balance sheet in V. 44, p. 552.) Annual report for
Net earnings................... $33,415,558
$31,303,648 $34,595,267 1886 in V. 44, p. 342. Gross earnings in 1886, $814.744; net, $336,The income account below embraces all receipts and expenses of the 981; gross in 1885, $736,984; net, $247,655. From Jan. 1 to Aug. 31
Pennsylvania Railroad proper, but not including the roads west of Pitts in 1887 (8 mos.) gross earnings were $557,285, against $501,488 in
burg & Erie operated by the Pennsylvania Company. The account for 1886; net, $262,34°, against $235,276. (V. 43. p. 162, 275, 335, 368.
the years 1884,1885 and 1886 was as follows:
459, 487,635,766; V.44 p. 149, 212, 276, 309, 3 4 2 , 552; V. 4 5 ,p. 26.
INVESTORS’
SUPPLEMENT.
[V ol .
XLV.
N ovem ber,
1887.J
RAILROAD
STOCKS AND
BONDS.
91
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a bles.
DESCRIPTION.
on first page of tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal, When Dae.
Amount Rate per When
of
Par
of
Where Payable, and by Stocks—East
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Philadelphia & E rie.—( Continued.)
General M., g., guar by Pa.RR.($5,263,0001w
287 1869 $1,000 $13,943,000 5 & 6 g. Various Philadelphia & London.
Debenture bonds, reg. (redeemable at any time).. . . . .
1885
1,000
1,470,000
413 F. & A. Philadelphia, Penn.RR.
Phila. Oermant’n <£ Chestnut H ill—1st mort., g
7 1883
1,000
1,000,000
4*3 M. & N.
Philadelphia Germantown <GNorristown—Stock.
29
50
....
2,231,900
3
Q.—M. Phila., Treasurer of Co.
Philadelphia Newtown eg New York—Stock..........
21
50
....
1,200,000
Bonds, guar, by Phila. & Read., coup................
21
....
100 &c.
700,000
6
A. & O. Phila., 227 So. 4th St.
Philadelphia <£Reading—Stock, common............
1,013
50 39,474,911
2*2
....
Philadelphia, Office.
Preferred stock.....................................................
1,013
....
50
638,850
313
. . . . 1843
Mortgage loan, sterling, coupon......................
£500
967,200
6
J. & J.
London.
do
dollars, coupon.............................
1843-9 1,000
1,499,500
6
J. & J. Philadelphia, Office.
. . . . 1857 500 &c.
do
convertible, coupon...................
74,500
6
J. & J.
do
do
Mortgage loans, coupon.......................................
. . . . 1868
1,000
2,700,000
7
A. & O.
do
do
Consol, mort. ($8,162,000 are gold 6s) cp. or reg. . . . . 1871 200 &c. 18,811,000 6 g. or 7 J. & D.
do
do
Gen. mort., gold, $ and £ , cp.($5,000,000 are 7s). . . . . 1874
1,000 24,686,000 7 & 6 g J. & J. Last paid July, 1884
. . . . 1873
Improvement mort., gold.......................................
1,000
9,364,000
6 g. A. & O.
Philadelphia.
Income mortgage, $ ..................................................
1876
1,000
4,905,000
7
J. & D. Last paid Dec., 1883
Consol. M, of ’82,1st ser., gold (for $80,000,000).
1882 500 &c.
4,403,328
5 g. M. & N. Last paid May, 1884
do
2d senes (for $80,000,000).......
1883 500 &c.
2,441,052
5 g- F. & A. Last paid Feb., 1884
....
Debenture loan, coup...............................................
1868 100 &c.
652,200
6
J. & J. Last paid Jan., 1884
....
do
convertible, coupon......................
1873 100 &e.
6,203,900
7
J. & J. Last paid Jan.. 1884
Scrip deben, and guar, bonds, currency................. . . . . 1877 10 &c.
557,569
6
J. & J. Last paid Jan., 1884
Scrip general mort. and Perkiomen, 6, sterling..
1,794,510
1877 90 &c.
6
J. & J. Philadelphia & London.
1882 50 &e. 24,673,400
Deferred Income bonds.............................................
6
Nothing ever paid.
....
Deferred income scrip...............................................
....
....
894,690
6
Nothing ever paid.
Conv. adjustment scrip ............................................
1883
....
2,110,730
6
J. & J. Last paid Jan . 1884.
Car trust certificates...............................................
....
1883
....
1,400,000
F. & A. Philadelphia, Office.
6
do
do
.......................... ....................
1884
6
M.
8.
822,000
P. & R. Coal & I., purchase money mort. bonds...
1872-4 500 &e. 12,26li000
6 & 7 Various
do
do
do
debenture loan...........................
....
1872
1,000
1,117,000
7
M. & S. Last paid March, 1884.
Philadelphia <6 Trenton—Stock...................................
39
100
1,259,100
2J«
Q .-J .
Philadelphia, Office.
July, 1,
Feb. 1,
M a y l,
Stpt. 3,
1920
1915
1913
1887
Oct. 1, 1897
Jan. 25,1876
July, 1876
July, 1910
July, 1910
July, 1910
Oot. 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.
Jan. 1, 1888
1892 to 1894
1892
Oct. 10,1887
P eoria & P e k in U n io n .—Owns from Pekin to Peoria, 10 miles
on each side of 111. R iver; total operated, 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for 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; deficit under interest, rentals and
taxes, $23,977. A. L. Hopkins, President, New York.
P e rk io m en .—Owns from Perkiomen Junction, Pa., to Emaus
Junction, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. & Reading RR., and bonds guaranteed by the lessees; but
the property was surrendered in May, 1879. 8tock subscription, $38,040. A proposed plan of reorganization provides for cancelling present
debt ana issuing a new mortgage for $2,250,000. (See V. 45, p. 53.)
Net namings in 1883-84, $99,201; in 1884-85, $121,537; in 1885-86,
$89,775. Interest on debt, $115,476. (V. 44, p. 335; V. 45, p. 63, 473.)
P eterb o ro u gh .—Owns from Wilton to Greenfield, N. H., 11 miles.
Completed Jan. 1, 1874. and leased by Nashua & Lowell Railroad
for 20 years from 1873 at 6 per cent on cost of the road. Edward
Spalding, President, Nashua, N. H.
P e te rsb u rg .—Petersburg, Va., to Weldon, N. C., 63 miles. In May
1877, a receiver was appointed, but steps were taken by second mortage 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 hands of Central Trust Co., of which $350,000 are
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.)
P h ila d e lp h ia & B a ltim o re C entral.—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 & 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 charges, $20,859.
f
P k i l a d e l p k l a & E r ie .—Owns from 8unbury to Erie, 287 miles.
Formerly 8unbury & Erie RR. It was leased to Pennsylvania RR. for
999 years from Jan. 1. 1862, the lessees to pay 30 per cent of gross
eoeipt as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The general mortgage is guaranteed by the
Pennsylvania Railroad and the interest on the 6s is paid J. & J., oh the
5 per cents A. & O. The unpaid coupons are held by 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 were
$2,971,951., agamst $2,697,762 in 1886; net, $1,196,970, against $1,UoDjOlO.
Last report was in Chronicle , V. 44, p. 273, giving the follow ing:
INCOME ACCOUNT.
Receipts—
1883.
1884.
1885.
1886.
Gross earnings....... $4,108,843 $3,660,146 $3,292,253 $3,708,485
Net earnings............ $1,488,020 $1,458,080 $1,292,880 $1,465,953
Rents.
4,892
9,120
8,471
10,836
Total incom e.... •$1,492,912 $1,467,200 $1,301,351 $1,476,789
Total disbursem’ts
1,277,575
1,187,713
1,250,218
1,339,328
Surplus.................
$215,337
$216,982
$113,638
$137,461
—(V. 44, p. $ 7 3 .)
P h ila d e lp h ia G erm a n tow n & C hestnut H i l l .—In Philadel
phia from Germantown June., on Connecting Railway, to Chestnut Hill,
miles. From May 1,1883, leased for 30 years to the Pennsylvania
" h * Go*> which guarantees 4 1a per cent on the bonds. Gross earnings in
7 7 3 - n e t $7 4 6 i operatins exPenses>$116,405. Gross in 1886, $140,P h ila d e lp h ia G erm a n tow n &, N orristow n . — Philadelphia.
Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply
mouth Railroad, 9 miles; total, 29 miles. The property was leased
10,1870, to Philadelphia & Reading Railroad for 999 years at a
rental of $269,623 and $8,000 yearly for organization expenses. Dividonas 01 12 per cent per annum are regularly paid.
& N ew Y o r k .—Owns from Erie Ave.>
Philadelphia, to Newtown, Pa., 21 miles. Capital stock, $1,200,000,
? a m <a r=iill3er 10» 1879, the Philadelphia & Reading Railroad purchased
12,012 shares (which gave control of the property), and guaranteed the
bonds; the road is operated in connection with the P. & R. system.
m 1884-85, $73,928, expenses, $82.282; deficit, $8,353.
In 1885-86 earnings were $80,450; expenses, $86,629; deficit, $6,179.
* R e a d in g .— Line op R oad—Owns main line,
Philadelphia to Mount Carbon, Pa., 98 m iles; branches owned, 228
m iles; leased unes, 579 miles; roads controlled, 107 miles: total operj
1887 about 1,013 miles. These leased lines include the No. Penn,
and Delaware & Bound Brook roads, from Philadelphia to Bound
Brook, N. J., and branch to Trenton. The Shamokin Sunbury & Lewis-
burg, and the Jersey Shore Pine Creek & Buffalo and other lines, form
the connecting roads to the N. Y. Cent. & H. at Geneva and Lyons, N. Y .
Organ ization , L eases , &c .—The Philadelphia & 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 line. Road opened Philadelphia to PottsvlLle in Jan.,
1842. The Philadelphia & 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 & Norristown, Philadelphia & Chester, and some
minor roads; also the North Pennsylvania Railroad and Delaware
& 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 pay the
lental and a decision that the lease was never legally valid, the Jer
sey Central Road was given up Jan. 1, 1887. The fiscal year ends
November 30. The annual election is held early in January.
The Philadelphia & Reading Coal & Iron Company is a corporation
formed (Dec. 12,1871) for the purpose of owning and working the ex
tensive coal properties of this company. The Phila. & Read.RR. Co. owns
all the stock ($8,000,000) of the Coal & IroD Company.
The P. & R. RR. and the Iron Co. were in the hands of receivers from
May, 1880, to May, 1883. Again in June, ’84, receivers were appointed.
Sto ck and B onds .—The preferred stock is of small amount, and did
not receive any dividends after 1880. The dividends paid on Phila
delphia & Reading stock from 1870 to 1875, inclusive, were 10 per cent
each year; in 1876 2 ^ per cent was paid and nothing since.
The range of P. & R. stock yearly in Philadelphia since 1875 has been :
in 1876, lS ^ S ^ S ; in 1877, 10@2014 ; in 1878, ll ^ - a i G ^ ; in 1879.
l l ^ S ^ S s ; in 1880, 6 ^ ® 36ia; in 1881, 2538®37]4 ; in 1882, 2 3 W
335s; in 1 8 8 3 ,2 3 ^ 3 0 1 2 ; in 1884, 8 ^ 3 0 ^ ; in 1885,
in 1886
9ta©27; in 1887, to Nov. 18, incl., 17J4@35%.
The bonds in the table above are arranged with the mortgage bonds
placed first, then the plain debentures, income bonds, scrip, &e. The
trustees of the general mortgage of 1874 hold the bonds of the Coal
& Iron Co., viz., $29,737,965 mort, of 1874 and the Phila. & Read. Co.
also holds the $10,000,000 mort. of the Coal & 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
ties. In addition to the bonds above given there are real estate mort
gages of the P. & R. RR. Co. for $2,098,200 and of the Coal & Iron Co.
for $769,837.
Oper ation s , F inances , & c —The Philadelphia & Reading Co. has
been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia & Reading Coal <ft Iron Co., became a large owner of
coal lands. Between 1870 and 1876 the P. & R. increased heavily its
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 and on May 24
receivers were appointed and held possession till May, 1883. Bui 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 the purpose o i effecting
reorganization. (See Ch ronicle , V. 42, p. 216 and p. 394.) The plan or
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, 1886, onp. 394, &c., and after
the agreement with Mr. Gowen in Sept., 1886, under which Mr. A. Corbin
became President, the complete plan as modified was published in the
C hronicle of Deo. 18, on p. 747; (V. 43. p. 747).
From Dec. 1,1886, to Sept. 30,1887, (10 mos.), gross earnings o f the
P. & R. R.R. were $17,58o,243, against $15,843,116 in 1885-6; net,
$8,973,833, agst $6,407,821 in 1885-6. Including the Coal & Iron Co.,
the net earnings were $9,815,677 in 1886-7, agst $4,651,630 in 1885-6.
With the proceeds of assessments on stock and bonds and the largely,
increased iucome in 1887, the trustees paid receivers’ certificates, float
ing debt, and began to pay overdue interest. See Y. 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 New Jersey leased lines. From this report it appears that the floating
debt and “ current liabilities ” of the P. & R. and the Coal & Iron cost
Nov. 30, 1886, were $29,779,273, against $25,070,177 the previous
year, an increase of $4,709,096. The details of the P. & R. RR. Co.’s
unfunded debt were as follow s:
Nov. 30,’86.
Nov. 3 0 ,’ 85.
Bills payable and loa n s................................. $6,7 24,805
$7,103,890
Receivers’ certificates...................................
2,835,370
2,747,857
Leased roads and canals—rentals................
5,342,743
3 364,501
Unpaid interest and dividends....................
8,219,814
4,694,427
Connecting roa d s...........................................
521,467
474,271
Account of current business.........................
492,415
454,356
Wages, drawbacks, &c..................................
1,842,990
1,400,971
Taxes on stock and receipts.........................
322,054
592,350
$26,301,658
$20,832,623
The Cofl & Iron Co.’ s floating liabilities on Nov. 30, 1886, w ere
¡1,855,363, against $2,809,499 on Nov. 30,1885.
INVESTORS’
9 2
SUPPLEMENT.
[VOL. XLV.
Subscribers w i ll confer a great flavor b y g iv in g Im m ediate notice o f any error discovered In these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate per
Par
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Payable
Cent.
Value.
Bonds
Road.
on first page of tables.
July 1, 1887
Phil’delphia,
Co.’s
Office
J.
&
J.
4
$50
506
Philadelphia Wilmington A Baltimore—Stock—
April, 1917
do
do
A. & O.
4
1,000,000
1,000
1887
Plain bonds, registered........................................
Oct. 1. 1892
do
do
A. & O.
6
700.000
1872-4 1,000
do
..........................................................
April
1. 1900
do
do
A. & O.
800.000
6
1.000
1875
do
...........................................................
June, 1910
do
do
T. & D.
1,000,000
5
....
1880
do
....................... .— .. ........................
Aug.
1, 1911
New
York.
F. & A.
5
650.000
1,000
30 1886
Piedm ont A Cumberland—1st mort . . . . . . . . . . . . .
Deo. 1932
J. & D. Phila. P. & R. RR. Co.
6
3.500.000
1,000
1883
Pine C reek—1st mort., guar.......................... ............
F. & A. Phila., Pa., RR. Office. Aug. 1, 1900
7
6.863.000
1,000
Ï99 1868
pu ts. 0.<t St. L .—1st M.,consol., reg. andcoup........
April 1, 1913
dò
do
A. & O.
2.500.000
7
1,000
199 1873
2d consol, m ortgage...— .......................................
J.
& J. N. Y., Nat City Bank. Jan. 1,1914
5
3.000.
000
1,000
1864
125
1st mort., Steub. & Ind., extend, in 1884, reg .. . .
Jan. 1,1890
Phila.,
Pa.
RR.
Office.
J.
&
J.
134.000
7
1,000
33 1864
Col. <&Newark Division bonds.................................
do
do
Feb. 1,1893
F. & A.
6
120.000
Holliday’s CoveRR. mortgage bonds....................
New
York.
Oct.
1, 1922
A.
&
O.
6
2.400.000
Pittsb. Oleve. A Toledo—1st mortg., gold, int. guar.. *78 1882
July, 1898
Balt.,
Balt.
&
Ohio
RR.
J.
&
J.
4.000.
000
7
1,000
1868
149
pittsb. A Oonnellsville.—1st mortgage.......................
Aug.
1, 1889
Pittsb.,
First
Nat.
Bank
F.
&
A.
326,600
6
10 1859 100 &c.
1st mortgage Turtle Creek division........................
6.292.000
6 g. T. & J. London. J.S.Morgan&Co Jan. 1, 1926
£200
Consol, mort., guar. B. & O. (s. f . £7,200 pr. yr.).. 149 1876
New
York
Agency.
Feb.
1,
1925
5 g. F. & A.
2d consol, mortg., gold (pledged for B.& O. bonds). 149 1885 100 &c. 10,000,000
Q.—J. N. Y., Winslow, L. & Co. Oct. 4, 1887
100 19,714,286
1^
Pittsburg Ft. Wayne A Chicago—Stock, guar............ 468
Oot.
1,
1887
do
do
100 10,776,800
Q.—J.
1%
468 1871
Special improvement stock, guaranteed................
July 1, 1912
do
do
Various
5.250.000
7
1st mort. (series A to F) ) Bonds all coupon, but 468 1862 500 &c.
July 1, 1912
do
do
Various
5.160.000
7
2d do (series G to M) > may be made payable 468 1862 500 &0.
July 1, 1912
do
do
A.
&
O
2.000.
000
7
500
&o.
468 1862
Sd mortgage.................. > to order.
6 g. J. & J. New York, 3d Nat’l B t. July, 1922
1,000
1.440.000
41«1 1881
Pittsburg Junction—1st M., gold................................
July. 1887
N.
Y.,
Chemical
Nat.
Bk.
2.050.000
6
50
70
Pittsburg A Lake Erie—Stock....................................
2.000,000
1,000
6 g. J. & J. N. Y., Phila. & Pittsb. July 1. 1928
70 1878
1st mortgage, gold, coupon...................................
Nov.
.1, 1887
Q
—J.
3.000.
000
50
1^
65 1884
Pittsburg McK. A Youghiogeny—Consol, stk., guar .
J. & J. N.Y., Union Trust Co. July 1, 1932
6
2.250.000
1,000
1882
1st mortg., guar.................. - ...................................
July
1, 1934
do
do
J.
&
J.
750.000
6
1,000
"62 1884
2d mortg.......................................- - - ............■•- ........
1.000.
000 5 g. J. & J N. Y.,Mercantile. Tr. Co. July 1,1916
1,000
62 1886
Pittsburg Fainesville A Fairport—1st m., gold---- c
April
1, 1912
Philadelphia.
A.
&
O.
3 000,000
5 *
1,000
70 1882
Pittsb. Va. A Charleston—\st mortgage, gold..........
4 g. J. & J New York, 3 Broad St. July 1, 1917
1,000
(1)
120 1887
Pittsburg A W estern—lu t M.,g.(for $10,000,000).c
April
1, 1911
Last
paid
Oct.,
1884.
800.000
6 * A. & O.
1,000
103 1881
1st mortgage, Pitts. Brad. & Bufl.....................—
OBOSS AND NET BECEIPTS.
1884-85.
1885-86.
1883-84.
Gross receipts............................$47,450,848 $44,643,966 $46,373,811
32,015,069
34,253,954
Gross expenses......................... 34,054,314
Net earnings..................... ..$13,396,534 $12,628,897 $12,119,857
The income account was briefly as follow s:
INCOME ACCOUNT.
1885-86.
1884-85.
Net receipts, both com panies.......................... $12,628,897 $12,119,857
From this deduct: For the Railroad Co.—
$62,895
Debit balance, profit and loss...........................
q’I qq
30,653
Btate tax on capital stock..................... .
l» ,» y o
All rentals and full interest due, including
15,804,595
dividends due on Cent, of N. J stock.......... 16,184,453
D educt: For the .Coal & Iron Co.:
Full interest on all obligations other than
984,684
those held by the Railroad Co........................
940,997
$16,882,827
$17,226,778
$4,762,970
Deficit of both companies.................................. $4,597,881
—iV 43 n 23 102,103,131.133,245,275,368,399,431,459,516,547,
635 6 7 2 7 1 9 738 747; V. 44, p. 22, 61 89, 90, 185, 212, 244, 276,
309 344 401, 434 459, 466, 527, 544, 551, 586, 701, 714, 752, 782,
809 • ^ 45, p 26, 54785,143, 211, 240, 272, 305, 341,438, 473,509,
539! 572, 600.)
P h i l a d e l p h i a & T r e n t o n .—Owns from Kensington, Pa., to Morrisville. Pa., 26 miles and Tioga Branch, 1 m ile; leased—Trenton Bridge.
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
miles; total owned and leased, 39 miles. On Dec. 1, 1871, it was
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 division.
P h i l a d e l p h i a W i l m i n g t o n & B a l t i m o r e .—Mileage as follows:
Philadelphia Wilmington & Baltimore RR., 122 miles; PMladelplna &
Baltimore Central, 79; Delaware RR., 100; Queen Anne & Kent RR.
2 6 ; Delaware & Chesapeake, 55; Cambridge & Seaford RR., 27; Del
Md. & Ya. RR., 98 miles ; total operated, 506 miles. Owns over half the
Block of the Phil. & Balt. Cent.
...
.
,
This road on the main route, Philadelphia to Baltimore, has been
roUtable, paying regular dividends, with a considerable surplus. From
868 dividends of 8 per cent on the stock have been paid each year. In
April 1881, nearly the whole stock was purchased and is held by Penn.
•RR. co. For four years the income account was as follow s:
INCOME ACCOUNT.
1884-5.
1885-6.
1883-4
1882-3.
$
■
5,820,323
5,678,588
6,004,764
■Cross earnings............ 5,741,672
. Receipts—
1,783,816 1,862,630
r « t earnings................. 1,675,897 1,855,178
122,373
133,496
146,378
(be receipts...............
109,348
the larger portion of which was in looal traffic. All classes of freight
show an increase, except ore, live-stock and agricultural products. The
coke traffic shows an increase of about 57 per cent, or 112,038 tons.
The gain in the volume of coal was also quite large. There was an in
crease in freight earnings of $711,122 42. The average rate received
per ton per mue was 62io mills as compared with 53,o mills for the pre
vious year; and while the average cost was increased, the result was an
increased profit on this class of traffic. There were carried 1,321,432
passengers as compared with 1,261,427 in 1885, there being a gain in
local, and a loss in through travel.”
The statistics of the report for 1886 were in V. 44, p. 34—
1383.
1884.
1885.
1886.
Total gross earnings. 4,623,740 4,045,257 4,033,623 4,752,596
Op. exp. and taxes.. 3,087,465
2,731,960 2,631,633 3,130,690
f
Total income.......... 1,785,245
Disbursements—
nnn
Eternals paid..................
Interest on debt............
2U ’ZZ?
Taxes
.....................
48,234
Dividends,' 8 per c t. . . .
943,604
Miscellaneous...............
100,133
1,988,674
1,911,189
331,338
201,485
47,682
913,604
14,543
386,634
200,000
47,686
945,548
11,674
2,009,008
$
367,650
200,000
47,697
945,548
13,605
Total disbursem’ts... 1,639,078 1,538,653
1,591,542
1,574,501
Balance, su rp lu s.......
146,167 450,016
319,647
434,507
— V. 44, p. 185.)
P i e d m o n t & C u m b e r la n d .—Road extends from Piedmont, West
V a to Cumberland, Md., 30 miles. It connects the West Ya. Central &
Pittsburg RR. with the Pennsylvania RR. system, and has a traffic contractfrom the Pennsylvania Railroad. Stephen B. Elkins, President.
P i n e C r e e k .—Stokesdale Junction to Newberry Junction, Pa., on the
Corning C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & Bufl.
rp
It is onerated by the Fall Brook Coal Co., and forms a connection
between Philadelphia & Reading lines and N. Y. Central, and bonds are
guaranteed by these companies and the Corning C. & A., on the condi
tion that guarantors shall advance money for interest if needed and
rake 2d mortgage bonds for such advances. Stock $1,000,000. Stock
and bonds were largely held by Mr. W. H. Vanderbilt. Gross earnings in
1885, $538 326 ; net, $167,564; lent of road, $161,498; surplus, $6,066
P ittsb u rg C in cin n ati & St. Douls.-Ovras from Pittsburg, Pa.,
to Columbus? Ohio, 193 miles; branch to Cadiz, Ohio, 8 miles; total, 201
miles This wrB a consolidation of several companies, May 1, 1868, in
cluding th« Steubenville & Indiana and the Pan Handle roads. This com
pany it controlled by the Penn. Company, through the ownership of a
«naioritv of its stock. The P. C. &St. L. also has leases of the Little Miami
M t e dependencies. Common stock, $2,508,000; first pref. $2,929.200;
second preferred, $3,000,000; par value of shares, $50. Authorized
amount of 1st mort. $10,000,000, of which $3,137,000 reserved.
The report for the year 1886 said: “ The tonnage transported was
4,864,889 tons, against 4,066,386 tons in 1885, a gain of 798,503 tons,
Net earnings.............
P.c.of op.ex.to eam ’s
Receipts—
Net earnings.............
Rentals and interest
Net from l’sed roads.
Miscellaneous............
Disbursements—
Rentals paid........ .
b
Other interest.
Loss on St.L. V.&T.H.
Miscellaneous .
1,313,297
1,536,275
67-53
66-77
INCOME ACCOUNT.*
1883.
1884.
$
„$
1,536,275
1,313,297
8,784
4,624
401,132
423,531
......................................
1,351,990
66-43
1,621,906
65-87
1885.
$
1,351,990
4,835
378,330
589
1886.
$
1,621,906
4,974
432,897
1,741,452
$
849,920
646,990
183,850
105,000
33,011
42,003
27,888
1,735,744
$
830,881
646,990
178,615
52,500
2,059,777
$
931,518
646,990
133,104
1,946,191
$
856,345
714,490
231,246
105,000
82,534
10,418
66,917
14,172
Total ................. 2,000,033
1,888,662
1,775,903
1,725,784
Balance.................. ... def.53,842 def.147,210 def. 40,159 sur. 333,993
* Exclusive of Col. Chic. & Ind. Cent.
GENERAL BALANCE AT CLOSE OB E H FISCAL TEAS.
1886.
1885.
1884.
1883
$
$
$
$
Assets—
20,965,392
20,870,740
20,798,277
20,605,107
RR., equipment, &c..
1,085,967
1,035,967
1,085,967
1,085,967
Stocks owned, cost..
23,750
23,750
23,750
Bonds owned, c o s t ..
16,021
38,17
21,744
20,318
Betterm’tstol’s’d r’ds
951,613
1,036,391
1,119,287
1,107,502
Bills & accts. receiv..
330,697
389,995
292,014
474,337
Materials, fuel,& o...
322,045
276,134
258,918
317,725
Cash on hand............
64,639
64,639
64,639
64,639
Cin. Str. Conn. R y ...
119,300
428,482
396,124
Profit & loss balance
23,908,010 24,060,720 24,214,268 23,879,426
$
$
$
$
Liabilities—
2,508,000
2,508,000
2,508,000
2,508,000
5,929,200
5,929,200
5,929,200
5,929,200
12,617,000 12,617,000 12,617,000 12,617,000
1,680,136
1,451,050 2,013,724
1,692,961
All other dues& aco’ts
845,290
845,826
845,826
847,360
Due Little Miami RR.
Due C. C. & 1.0. RR .
262,500
262,500
262,500
262,500
Cin. Street Conn.bds.
37,298
38,018
447,144
50,989
Miscellaneous............
Totalliabilities . 23 9 08,01024,060,72C» 2 4 214,268 23,879,426
- ( V . 42, p . 366, 5 4 7 ; V . 43, p. 245; V . 44, p. 3 4 2 .)
. „ , „
,.,v C le v e la n d & T o l e d o . —(See Map o f Baltim ore A Ohio.)
Company guara,
ending June 30, 1886, gross earnings were
$40 P825; net, $132,462; interest, rentals, &c., $260,802; deficit,
(DIO^ 34:0.
P ittsb u rg & C o n n e lls v ll le .—Owns from Pittsburg, P a - to
vrt Sav a g e June., Md., 147 miles; branch, 2 miles; leased lines, 22 miles,
total 171 miles. Leased to the Balt. & Ohio Railroad since Jan. 1,
1876’ The city of Baltimore transferred its interest to the Baltimm-e Railroad for $1,000,000, and the consolidated sterling mortrrarra was made and guaranteed by the Baltimore & Ohio, o f which
fnough is reserved to retire the prior bonds. It is SSI1 the* Balt*1*
Pittsburg Division of the Baltimore & Ohio RR. In 1884 the Rait. ®
Ohio issued its bonds for $10,000,000 secured by P^dge of the above 2d
consolidated mortgage of the Pittsbur| & Conne^vine RR. Stock is
$1 944,400. In 1885-86 gross earnings, $2,430,085, net were
P it t s b u r g F o r t W a y n e & C h ic a g o . Owns from Pittsburg, Pa-»
to rhicago in. 468 miles. The company made default Oct. 1,1857, mid
again in^l859„and was foreclosed Oct. 24,1861, and reorganized under
AN D BONDS.
STOCKS
RAILROAD
1887.]
N ovem ber,
94
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
DESCRIPTION.
Date
For explanation of column headings, &c., see notes of
of
on first page of tables.
Road. Bonds
Pittsburg Youngstown A Ashp’ bula—
Ashtabula & Pittsburg, 1st mort., coup, or re g ...
Port Huron A Northwestern—1st mortgage.............
Consolidated mortgage..............................................
Equipment mortgage.......... .....................................
P ortJervis Monticello A N. Y.—Stock.......................
P ort Royal A Augusta—1st mortgage.........................
2d mort., endorsed by Central G a ...........................
Augusta & Knoxville mortgage...............................
General mortgage income bonds, c o u p ..................
P ort Royal A West C arolina- 1st m ortgage............
Portland A Ogdensb.—1st mort., g o ld .......................
Consol, mortgage (for $3,300,000)..........................
Portland A Rochester—Stock ($600,000)...................
Portland Saco A Portsmouth—Stools, (guar by rental)
Portland A Willamette Talley—1st mort., gold........
Portsmouth A Dorer—Stock.............. ...........................
Portsmouth Qt. Falls A Conway—Stock.....................
1st mortgage............................................................ c
Prescott A Arizona—First mortgage, gold.............. c
2d mortgage, incomes...............................................
Providence A Springf.—1st M. (end. by City Prov.).
Providence A Worcester—Stock...................................
Bonds., i ......................................................................
Raleigh A Augusta—Stock...........................................
1st mort., funding coup............................................
Raleigh A Gaston—1st mortgage...............................
Reading A Columbia—1st m o r t, coup, (extended).2d mortgage, coupon (extended in 1884)...............
Debentures..................................................................
Lancaster & Reading, 1st mortgage.......................
Rensselaer A Saratoga—Stock.....................................
1st mortgage, consolidated (for $2.000,000) ........
Bonds—Princi
INTEREST OR DIVIDENDS.
pal, When Due.
Amount
Par
Rate
per
When
Where
Payable,
and
by
Stocks—Last
Value. Outstanding Cent. Payable
Whom.
Dividend.
62
218
218
218
24
112
112
68
1878
1879
1882
1881
$1,000
....
....
—
1878
1882
1880
1878
loo'& c.
60
94
53
51
29
11
73
73
73
73
23
51
1870
1871
....
500 &c.
100 &c.
1886
....
1,000
100
100
500 &o.
1,000
1,000
1,000
100
108
.
97
40
40
15
193
79
1877
1886
1886
1872
1877
1886
1873
1862
1864
1877
1873
1871
....
100 &e.
Too
Too
1,000
1,000
lOO&o.
1.000
1,000
100 &c.
100
1.000
this title Feb. 26,1862. On June 27,1869, the company leased all ts
road and property 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, &c. 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 & Chic, leases the Newcastle & 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
o f $875,000 each series, the interest on “ A ” series being payable Jan.,
and J u ly ; 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 series of $860,000 each, lettered H to M inclusive (J omitted), and the
Interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,”
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
tered payable to order. Of the 1st mortgage bonds, $1,633,500, and of
the 2d mortgage $1,949,500, and $823,767 cash, were held in the sink
ing funds Jan. 1, 1887. The special improvement stock is issued to
Pennsylvania RR. for improvements, &c., 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
o f which, shall have been submitted to and approved by the said party
o f 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 speoial guaranteed stock, but this was not
consummated.
Operations and earnings for five years oast were as below; in the gross
the net profits on leased lines are included, and in the net the earnings
paid to the C. & P. road are deducted.
Passenger Freight (ton)
Gross
Available D iv’d
Years. Miles. Mileage.
Mileage.
Earnings.
Revenue, p. ct.
1882___ 468140,057,682 991,907,501 $10,957,133 $4,368,465
7
944,563,376 10,965,656 3,747,519
7
1883 _468 127,520,075
1 8 8 4 .. .. 468110,639.940 907,951,237 9,204,314 2,907,465
7
1 8 8 5 .. .. 468134,613,104 953,564,515 8,237,156 2,411,451
7
1 8 8 6 .. .. 468 104,370,187 903,083,277 9,129,340 3,083,012
7
P ittsb u rg J u n ctio n .—From Monongahela River to Allegheny
River, Pittsburg, Pa., 4*4 miles, including side tracks and branches,
Built under auspices of B. & O. and Pittsburg & 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 earnings
were $176,000 and net $140;090. Common stock is $960,000. Preferred
stock, $480,000. In 1886 7 Der cent dividend was paid on the pre
ferred stock. (V. 44, p. 118.)
P ittsb u rg & L a k e E rie.—Owns from Pittsburg, Pa. to Youngs
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70
miles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport
& Youghiogheny RR., from Pittsburg to New Haven, Pa., 57 miles, with
branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent
interest and payable at will, are also outstanding. This company is
managed m the interest of Lake Sh. & Mich. So.. The stock was put
in trust but the Vanaerbilt interest was allowed to vole and control the
road; see Y. 45. p. 540. In ’86 gross earns., $1,376,861; net, $375,655.
Jno. Newell, Pres’t, Cleveland, O. (V. 44, p. 91,544; V. 45, p. 540, 673.)
P ittsb u rg M cK eesport Sc Y o u g h io g h e n y .—Owns from Pitts
burg to New Haven, Pa., 57 miles; branches, 8 miles; total, 65 miles.
Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99
years, 6 per cent on the $3,000,000 stock and principal and interest of
the bonds being guar. byP. & L. Erie and Lake Shore & 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.
P ittsb u rg P a ln esv llle Sc F a irp o rt.—Owns from Fairport. O.,
to Youngstown, O., 62 miles. Leased in Dec.. ’86 to the Pittsburg &
Western the 52 miles from Fairport to Niles. The Painesville & 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. & F. Co. organized. Com. stock, $800,000;pref., $250,000
P ittsbu rg V irg in ia Sc C h arleston .—From South Pittsburg, Pa.,
t o Uniontown, Pa., 70 miles. The stock is $1,505,000. The bonds and,
$ l ,251,Of>o ot the stock are owned by the Penn. RR. Gross earnings.
1886, $629.104; net, $252,232. Dividends of $1 50 per share paid in
March ami September, 1885, aud 2 ^ per cent April 4, 1887.
P ittsb u rg Sc W e ste rn .—(¿tee Map)—Owns from Alleghany City,
Pa., to New castle, Pa., 64 miles; Callery June, to Mt. Jewett, 137 m .;
Duck Run Branch, 3 m.; Clarion Branch, 6 m.; other branches, 2 miles;
total. 212 miles. Leases P. C. & Tol., New Castle Junction, Pa., to Val
ley Junction, O., 77 miles, and uses 26 miles of Cl. Mt. V. & Del. RR.,
Akron, O., to Orville, o .; total, 315 miles. This was a consolidation of
$1,500,000
755,000
920,000
135.000
500.000
250,000
112,000
630,000
1.500.000
1.549.000
800,000
2,377,000
590,800
1,500.000
400,000
769,000
1,150,300
1,000,000
775,000
775,000
500,000
2,500,000
1.242,000
873,000
1,000.000
1,000,000
650.000
350.000
1,000,000
350,000
8,155,300
1,925,000
6
7
6
7
F. & A. Phil., Fid. I.T. & S.D.Co.
A. 3c O. N. Y., First Nat. Bank.
M. & 8.
do
do
F. & A.
Aug. 1, 1908
Oct. 1, 1899
Mar. 1, 1922
Yearly instal’s
6
6
7
6
J. & J. N. Y., 234 Broadway.
J. & J. N. Y., Nat. City Bank.
J. & J. N. Y., 234 Broadway.
Jan. 1, 1899
1898
July 1, 1900
Jari. 1, 1899
6 g.
6 g.
3
3
7 g.
3
3
4hs
6
6
7
21«
6
J. & J.
M. & N.
....
J. & J.
J. & J,
J. & J.
J. & J.
J. & D.
J. & J.
6
8
5
5
6
7
4
7
J. &
J. &
M. &
J. &
J. &
J. &
J. &
M &
Last paid July, 1887.
Last paid Nov., 1883.
Portland.
Boston, Office.
N.Y., Farm.L. & Tr. Co.
Portsmouth Treas.
Bost., Eastern RR. Co.
do
do
New York Agency.
do
do
J. & J. Providence,Am. Nat.Bk
J. & J.
Providence, Office.
A. & 0. Providence R. I.H.T.Co.
J.
J. Phila..Pa..& Ral’gh.N.C.
8,
Phila., Co.’s Office.
D.
do
do
D.
do
do
J.
do
do
J. N. Y., Nat. B’k Com’roe.
N. N.Y., Del.& H.Canal Co.
Jan., 1900
Nov., 1901
July, 1886
July 15,1887
Jan. 1 ,1 9 0 6
July 1, 1887
July 15, 1873
June 1, 1937
Jan. 1. 1916
1916
July 1, 1892
July 1, 1887
1897
Jan., 1898
Mch. 1, 1912
June 1,1904
Dec. 1, 1917
July 1, 1893
July 1, 1887
Nov., 1921
several roads dated June 15, ’81, and in ’83 Pitts. Brad. & Buffalo was
acquired. In July, 1884. leased the Pittsburg Cleveland & Toledo RR
making a line to Akron, O. Operated in the Baltimore & Ohio interest,
and went into receiver’s hands in March, 1885. Sold in foreclosure
June 8,1887, and bought by the N. Y. committee. New company or
ganized June 25, as follow s: President, James Callery, Allegheny C ity
Vice-President, A. .T. Thomas, New York; Treasurer, J. P. Curtis, New
Y ork ; Secretary, H. D. Campbell, Pittsburg; Directors—James Callery,
J. W. Chalfaut, Willi*m Semple. Allegheny; H. W. Oliver, Jr Pitts
burg ; A. J. Thomas, C. H. Coster, A. H. Brock, New York.
The plan of reorganizat on (in the Chronicle, V. 44, p. 370) pro
vided for the issue of a new 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. 439. From July 1 to September 30 in 1887 (3
months), gross earnings were $557,259; net over expenses, rentals and
taxes, $159,636; surplus over interest, $53,646. In 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, 7 5 2 ; Y. 45, D.
2 6 ,11 3 ,4 3 9 ,61 4 .)
’
P ittsb u rg Y o u n g sto w n Sc A sh ta b u la .—Owns from Ashtabula
Harbor, O., t o --------, 125 miles. In July, 1887, this organization was
made by consolidation of the Ashtabula & Pittsburg with the Niles &
Alliance, Lawrence & Newcastle and New Brighton roads, under the
above title. (V. 45, p. 112.)
P o rt H u ro n Sc Northwestern.-^Port Huron to East Saginaw,
91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
35; Port Huron to Almont, 34; total, 218 miles. In 1886 gross earnings
were $315,985; net earnings, $ lo 1,662; interest payments, $141,8 i l
In 1885 gross, $297,762 ; net, $84,283; interest payments, $140,574.
John P. Sanborn, President, Port Huron, Mich.
P o rt J ervis M o n ticello Sc N. Y .—Owns from Port Jervis, N,
Y., to Monticello, N. Y., 24 miles. Was sold in foreclosure July 16,1875,
and again sold out in Nov., 1886/ and then reorganized under present
title. H. R. Low, Middletown, Prest. Gross earn’s in 1884-85. $20,530.
net, $5,355. Gross in 1»85-86, $10,720; net, $1,944. (V. 43, p. 309, 579.);
P o rt R o y a l Sc A u g u sta .—Owns from Port Royal, S. C., to Augus
ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta & Knoxville road,
Augusta, Ga., to Greenwood, S. C., 68 miles, for 99 years, at 4 per cent
on stock of $127,639, and assuming the bonded debt. Formerly Port
Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
1875. Sold in foreclosure June 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
June, 1881, a controlling interest was purchased by Central Georgia R R.
parties. Gross earnings in 1885-86, $452,113; net, $58,102. In 1884-85,
gross $412.164; net, $58,148.
P o rt R o y a l Sc W e s t C aro lin a.—A consolidation of several
roads in 1837 with common stock of $1,234,000 and pref. stock$184.000. See V. 45. p. 643.
P o rtla n d Sc O gdensburg.—Owns from Portland Me., to Fabyans,
91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
Champlain) by using 14 miles of the Boston Concord & 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 consol, bonds.
In March, 1834, a foreclosure suit was begun and receivers appointed.
In June, 1885, a decree of foreclosure was made, and a final decree
filed Dec. 15,1885, and a plan of reorganization was stated in V. 41, p .
421. In June, 1886, the new company was organized as th eP . & O.
Railway Company. Samuel J. Anderson, President. Portland, Me.
Gross earnings in 1884-«5 were $361,993; net, $99,157; gross in
1885-86, $361.376; net, $121,782. (V. 43, p, 211,672; V. 44, p. 119.)
P o rtla n d Sc R o ch ester.—Owns from Portland, Me., to Roches
ter, N. H., 53 miles. The old company was put in the hands of a
Receiver February, 1877. Foreclosure suit was begun, but a settle
ment was made in 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
& Maine was made for 50 years. Gross earns, in 1885-6, $191,503; net,
$42.594. In 1884-5, gross, $181,900; net, $25,272 —(V. 43, p. 7 17,)
P o rtla n d Saco Sc P o rtsm o u th .—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 & Maine Railroad leased the Eastern
in 1884 with all its leased roads.
P o rtla n d Sc W illa m e tte V a lle y .—Line of road from Portland,
Or., to Dundee, 28 miles, connecting with Oregonian Railroad, with
which it has a freight contract for 15 years. Bonds may be redeemed
at 105. Stock, $150,000.
P o rtsm o u th Sc D ov er.—Portsmouth, N. H., to Dover, N. H., 11
miles. Opened 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 (Mass.) Frank Jones, President, Portsmouth, N. H.
P o rtsm o u th Great F a lls Sc C on w ay ,—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 years from Deo. 1,
1878, with a guaranteed rental of $45,000 a year, which pays 4*3 per
cent on $1,000,000 bonds, and the stock is to receive the same dividends
as the stock of the lessees. Total stock, $1,150,300, of which lessees
own $551,300.
STOCKS AND BONDS,
KAILEOAD
M A P OP TH E
November 188T.1
R IC H M O N D & W E S T P O IN T
T E R M IN A L CO. S Y S T E M
LINES CONTROLLED
VesmiiHoa V ?
RICHMOND & DANVILLE SYSTEM
EAST TENN. VA. & GA.
„
TOTAL.______ ______________ _
2974 MILES
1578 «
4552 MILES
96
INVESTORS’
SUPPLEMENT.
[V olT x l V.
Subscribers w ill confer a great favor b y g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princl •
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
Par
For explanation of column headings, &c., see notes of
of
Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value,
Whom,
Cent. Payable
Dividend.
Richmond <&Alleghany—1st mortgage, g o ld .......... 252
Second mortgage, gold............ . ..........................
252
Richmond <£Danville—3d mort, (consol, of 1867).. 141
General mort., gold (for $6,000,000).....................
141
Debenture mortgage bonds, cumulative.................
...
Consol, mort., gold ($15,000 per mile).................. .
Piedmont branch, 1st mortgage.............................
48
Northwestern, N. C., 1st mort., guar......................
29
Richmond York River & Ches., 1st mortgage.......
38
do
do
2d mortgage.........
38
do
do
Stock guar. 6 p. ct
Rich’d Fredericksburg <t Potomac—Bonds, ster........
Dollar loan.................................................................
Coupon bonds of 1890...............................................
Coupon bonds of 1 9 0 1 ..............................................
Richmond <&Petersburg—Stock..................................
25
25
Consol, mortgage ($50,000 are 7s).........................
Richmond <6 West Pt. Ter. R. <6 W. Oo.—Stock.......... 4,352
Preferred 5 per cent stock, cumulative..................
Collateral trust bonds, gold (payable at 105)__ c*
Rochester & Genesee Talley—Stock............. ...............
18
Rochester <6Pittsburg—See Buffalo R. & P.
113
Rock Island dk Peoria—Stock.......................................
91
1st mortgage............................................................ r
Consol. 1st mortgage. .................... ..................... r 113
22
Rome & Carrollton—1st mort., gold............................
25
Rome <&Decatur—1st mort., gold ($15,000 p. m .)...
656
Rome Watertown <&Ogdensburg —8took....................
97
1st sinking fund mort., Wat. & R. (extended).......
1st mort., sink, fund (2d mort, on 91 miles).......... 190
190
2d mort. (3d mort, on 91 m iles).............................
Consol, mort., (extended July, 1882, at 5 per ct.). 409
45
Syracuse Northern (gold).........................................
1880
1881
1867
1874
1882
1886
1868
1873
1873
1880
....
1875
1¿87
....
1878
1885
1885
1886
1855
1861
1872
1874
1871
$ 1,000 $4,982,000
1,000
4,000,000
lOO&c.
617,500
1,000
4,878,000
1,000
2,708.0ir0
1,000
1,154,0.0
1,000
500,000
1,000
500,000
1,000
400,000
1,000
400,000
....
497,000
....
57,327
••••
309,594
....
150,000
....
300,000
100
1,000,000
500 &c.
369,000
100
40,000,000
100 , 5,000,000
1,000
7,637.000
I 100
552,200
7 g.
6 g.
6
6 g6
5 g8
6
8
6
3
5 g.
5, 6 ,7
8
6
3
6&7
1,500,000
150,000
450,000
150,000
375,000
5,390,100
418,100
1,021,500
1,000,000
6,457,000
500,000
2*a
10
6
6 g.
6 g.
3te
6
7
7
5
7
25,000
5,000
100 &c.
1,000
100
100 &o.
500 &c.
1,000
1,000
1,000
P resc o tt Sc A rizon a C entral.—Owns from Prescott Junction to
Prescott. Aiizonn, 73 m lee. Central Trust Co. of N. Y. is mortgage trus
tee. T. S. Bullock, President, 42 Wall Street.
P rovidence & Springfield.—Providence, R. I., to Pascoag, 23
miles. It was proposed to extend the road to Springfield, Mass., 80 miles.
8tock is $516,850. In 1884-85, gross earnings. $92,700; net, $45,545;
interest, $36,163. In 1885-86, gross earnings, $102,563; net, $38,032;
interest, $34,890.
P rovidence Sc W o rce ste r.—Owns from Providence, R. I.i to
Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles.
Notes outstanding are $250,000. 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; Y. 45, p. 673.)
R a le ig h Sc A u g u sta .—Owns from Raleigh, N. C., to Hamlet, N. C.,
98 miles; Hamlet to Gibson, 10 miles; leases Montcure to Pittsboro, 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.
R a le ig h Sc G aston .—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 fiscal year ending Sept. 30,
1886, $467,142; net, $106,582; other receipts, $70,405; surplus over
interest and dividends, $36,844.
R e a d in g & C olu m b ia.—Owns from Columbia to Sinking Springs,
Pa., 40 mites; branches, 16 mites; Lancaster & Reading Railroad,
leased, 15 miles; operates Marietta Junction to Chickies, 6 mites; total
onerated, 77 miles. Stock, $958,268. The road is controlled and oper
ated by Philadelphia & 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 m 1884-85, $356,108; surplus, $76,362; 1885-86, gross, $382,358; surplus over interest,
&c., $66,965.
R en ssela er Sc Saratoga.—Owns from Albany to Lake Cham
plain, N. Y., 79 miles: Troy to Waterford Junction, N. Y , 6 mites
Whitehall, N.Y., to Casfleton, Vt., 14 miles; Eagle Bridge to Rutland
Vt., 62 miles; other, 2 miles; teased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 mites; total opeiated, 192
miles. It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. teased the whole March 1,1871, at a rental of 8 per
cent on the stock and interest 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 mos.) gross earnings were $1,380,356, against $1,308,119 in
1886; net, $£59,186,against $614,366; surplus over charges, $28,241,
against $91,529. (V. 43, p. 580; V. 45, p. 180, 614.)
R ic h m o n d Sc A lle g h a n y .—Owns from Richmond to Clifton Forge,
230 miles; braneh to Lexington, 19 mites; dock connection, 1 mile;
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con
nection, 2 mites; total, 256 mites. The company was chartered Feb. 27,
1879, and acquired by purchase tne properties and franchises of the James
River <&Kanawha Canal Co., and the Buchanan & Clifton Forge Railway
Co., including water rights on James River and terminals in Riohmond;
the cost of these in stock and cash was $6,588,609.
The stock is $5,000,000, and car trust certificates for $376,000 are
outstanding. In May, 1883, default was made, and on June 23 receivers
were appointed. Decree of sate expected in the fall of 1887.
The plan of reorganization as changed in March, 1887, proposed that
the new securities be $6,000,000 5 per cent firsts; $5,000,000 pre
ferred stock, and $5,000,000 common. In 1888 2 te per cent interest
will be paid on the bonds and 5 thereafter. The present lets will get
100 per cent in new firsts, 37 per cent in preferred stock and 30 per ct.
in common stock. The 2ds get 53% per cent in preferred stock and the
common stock gets 70 per cot t in new common, having paid 10 per cent
assessment in all, including $2 10 already paid. Earnings from opera
tions for three years ending Sept. 30 were:
1884-85.
1885-86.
1886-87.
Gross eam’gs, inol. rents, docks, &e. $589,591
$597,048
$615,850
438,350
457,954
Operating expenses.......................... 404,918
Net earnings................................ $184,673
$158,698
$157,896
—(V. 44, p. 58, 119, 435, 495.)
R ic h m o n d Sc D a n v ille .—(See 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 under the R. A- W. P. Terminal Co.
In April, 1886, the Virginia Midland RR. was leased for 99 years, and
the Columbia & Greenville, Charlotte Columbia & Augusta, and Western
North Carolina also teased for 99 years. The Piedmont RR. is virtually
owned and the Northwestern North Carolina also owned. The Rich.
York R.& Chesapeake is teased in perpetuity. The Richmond & Danv.
Extension Co. was organized to build Georgia Pacific RR., and large
advances were made to it by the Richmond & West Point Terminal Co.
In Nov., 1886, negotiations ted to a sate of a large majority of the R. &
D. stock to the Termiuai Company, which then became the principal
corporation, and afterward, in Feb., 1887, exchanged its own stock for
the R. & D. stock in the proportion of four shares of Terminal for one of
J. & J. Last paid Jan., 1883.
M. & N. Last paid Nov., 1882.
M. & N. N. Y., Central Trust Co.
do
do
J. & J.
do
do
A. & O.
do
do
A. & O.
A. & O.
do
do
A. Sr O.
Richmond.
J. & J.
do
M. & N.
do
J. & J.
J. <fe J.
London.
J. & J.
Richmond, Office.
J. & J Phil.,To wnsehd W.& Co.
M. & N.
Richmond, Office.
J. & J
Richmond, Office.
M. & N.
do
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
N. Y., Central Trust Co. July 1, 1887
2 *a
do
do
6 g. F. & A.
Feb. 1,1897
3
J. & J. N.Y. ,by N. Y .L.E.&W.Co July 1, 1887
J. & J.
J. & J.
J. & J.
J. & J.
J. & D.
J. & J.
M. & S.
J. & D.
J. & J.
4. & O.
J. & J.
N. Y., Com Exch. Bank. July 1, 1887
do
do
Jan. 1,1900
do
do
Jan. 1, 1925
N. Y., S. Borg & Co.
Jan. i , 1916
N.Y ., Atner. L’n & Tr. Co. Deo. 1,1926
N. Y. Office, 5 Pine St. Aug. 15,1887
N. Y., Central Trust Co. Sept. 1, 1910
do
do
Deo. 1. 1891
do
do
Jan. 1, 1892
do
do
July 1, 1922
do
do
July, 1901
Richmond & 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 is $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 nade to the holders to issue
to them In exchange for these coupons 24 per cent in new consol, mort.
5 per cent gold bonds. The consolidated gold mortgage of 1886 was
issued for an authorized amount of $11,220,000 to take up the gen. mort
gage bonds, the debentures and their overdue interest, and the North
western N. C. RR. bonds, guaranteed. Also further issues at $15,000 per
mile can be made to retire bonds of teased lines. (See V. 43, p. 275.)
The annual report for tne year ending Sept. 30,1886, was published
in the Chronicle , V. 43, p. 717, containing the following:
1885-86.
1884-85.
1883-84.
$3,999,147
$3,834,737
Total receipts.......... ............ $4,012,028
Operating expenses.......... ... 2,121,553
2,231,486
2,218,977
Net receipts.................... $1,890,475
$1,767,661
INCOME ACCOUNT,
1885-6.
18d4-5.
$1,767,661
Net revenue for the y e a r ........ $1,890,475
Interest on debt, rentals, & o... *1,467,658
*1,483,097
$1,615,760
1883-4.
$1,617,358
*1,470,908
Balance over all charges.......... $422,817
$284,564
$136,450
* The int. charge on debent’s is included here in full, but it was not paid.
- (V . 43, p. 73, 163, 275, 516, 548, 635, 7 1 7 , 738; V. 44, p. 185, 308,
335, 435.)
R ic h m o n d Fred erick sbu rg Sc P o to m a c .—Owns from Rich
mond, Va., to Quantico, 82 mites. In November, 1881, there were
voted dividend certificates for $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
teedstock. The common stock is $1,030,100; guaranteed stock, $500,400 (6 per cent except $19,000 guar. 7 per cent), and “ dividend obliga
tions” $1,066,500. Dividends of 6 te per cent paid on common stock
out of profits of 1887. In year ending Sept. 30, 1886, gross earnings
were $505,412; net, $233,876; interest and guaranteed dividend charges,
$85,204. In 1836-87 gross earnings, $537,522; net, $170,366; in
terest and guaranteed dividend, $83,269; surplus, $170,336. (V. 43, p.
67 0 .)
R ic h m o n d Sc P etersbu rg.—Owns from Richmond to Petersburg,
Va., 23 miles; branch, 2 mites; total, 25 miles. The road has earned
moderate dividends and the debt account is very small. In 1885-86
gross earnings, $207,454; net, $95,598. In 1884-85, gross, $192,650;
net, $95,168. V. 43, p. 717.)
R ic h m o n d Sc W e s t P o in t T e r m in a l R a ilw a y Sc W a r e
house Co.—(See Map.)—'ihe mileage controlled and operated in Aug.,
1887, was as follows:
¿A,R ichmond & D a n v il le S ystem .—Richmond & Danville and Piedmont
RR. and branches, 208 miles; Richm’d York River & Ches. RR., 39 m.;
Northwestern No. Carolina RR., 25 m.; No. Carolina RR. and State Uni
versity RR., 232 m.: Atlanta & Charlotte Air Line R’way and branches,
288 m.; Virginia Midland R’ way, 413 m.; Wash’n Ohio & West’nRR.,
50 m.; West’n No. Car. RR., 290 m.; Char,. Col. & Aug. RR. and leased
lines, 373 m.; Col. & Greenv. RR., teased fines and branches, 296 m.;
Asheville & Spartanburg RR ,7 0 m.; Knoxv. & Aug. RR., 16 m.; Rich.
& Mecklenburg RR., 31 m.; Georgia Pac. R’way, 382 in.; Northeastern
RR. of Georgia, 6 1 m ; total Rich. & Danv. system, 2,774 mites.
E ast T ennessee V ir g in ia & G e o r g ia Sys te m .—East Tenn. RR.,
Bristol to Chattan’ga, 242 mites; No. Car’na RR., Morristown to Unaka,
43 5 m.; Knoxv. & O. RR.. Knoxv. to Jellico, 65'5 m.; Ooltewah Cut-off,
11*5
total East Tenn. Div., 362-5 mites; Cleveland to Selma, 264 m.;
Selma to Meridian, 113 m.; total Alabama Div., 377 miles; Atlanta Div.,
Rome to Macon, 158-5 m.; Brunswick Div., Macon to Brunswick (and
Hawkinsville branch), 200 m.; total Georgia Div., 858-5 mites; Mobile
& Birmingham R’way, 150 m.; Memphis & Charleston RR., Chattanooga
to Memphis, and branches, 330 m .; total East Tenn. Va. & Ga. system,
1,578 mites. G r an d T o tal op a l l M il e a g e , 4,352.
This company was incorporated by an act of the Legislature of Virginia
of March 8,1880. It was the auxiliary corporation of the Richmond &
Danville RR. Co., controlling several stocks by ownership of a majority.
In November, 1886, the Terminal Company purchased a large major
ity of the R. & D. railroad stock, and a new board was elected. It was
voted in December to issue $5,000,000 of pref. Terminal stock, secured
bv the deposit in trust of 25,000 shares of R. & D. stock; and afterward
the common stock was increased to $40,000,000. In Jan., 1887, $6,500,000 of the East Tenn. Va. & 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 Riohm. &
Danv. stock was taken. See terms of this negotiation in V. 44, p. 119.
The report in March, 1887 (V. 44, p. 401), showed that the Richmond
& West. Point. Ter. R. & Wareh. Company then owned the following
stocks, v iz .: Of its own stock, $28,633 pref. and $3,579,600 common
(to be exchanged for Richmond & Danv. stock, of which $2,499^000 to
be pledged); also, $4,230,100 of Rich. & Danv. RR. stock, $6,500,000
(*$6,000,000 pledged),of East Tenn.Va. &Ga. 1st pref.; $2,611.,650Rich.
& Danville Extension Co.; $24,800 of Am. Construction Co.; $120,000
BONDS
STOCKS AND
RAILROAD
1887.J
N ovem ber,
9 8
IISYESTORS’
SÜPPLEMEIS T.
[Vol. XLV..
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in tltese Tables.
Bonds—PrinoiINTEREST OR DIVIDENDS.
DESCRIITION.
Miles Date Size, or
Amount
Par Outstanding
Rate per When Where Payable, and by Stocks—Last
of
T or explanation of column headings, &c., see notes of
Road. Bonds Value.
Whom.
Cent. Payable
Dividend
on first page of tables.
Rutland—Stock, common............................................
Stock, preferred............. ...........................................
General mort. (8 per cent, reduced t o 6)................
New 2d mort. in exch. for equipment bonds, <feo.
Sacramento <6 Placerville -1 st mortgage (S. V. RR.).
1st mortgage (8. & P. RR.)— .................................
Saginaw valley <6 S t.L ou is—1st mortg., coup....... .
St. Johnsbury <tL. Champlain—1st M.,coup. or reg.
Consolidated mortgage (for $1,000,000)...............
St. Joseph <t Orand Island—Stock....................... ......
1st mort., gold, interest guar, by U. P ....................
2d mortgage, income— .......... - ......... , ........... ........
Joseph <t St. Louis—Stock............................
.Louts Alton <&Terre Haute—S tock .............
Pref. st’c k (7 cumulative)...............................
1st mortgage (series A) sinking f ’d. 1 nnnnon- or f
1st mortgage (series B) sinking f ’d ma,v be’ re2d mortgage, preferred (series C).. ) „ jRtered
{
2d mortgage,preferred (series D )..
|
2d mortgage, incomes..................... J
Dividend bonds, income not cumulative.....
Belleville & Carondelet, 1st mort..................
135
120
120
48
36
120
252
252
135
76
381
381
207
207
207
207
17
2d mortgage, income............................................
Louis Arkansas <6 Texas—Stock.......................... 1,035
St. L. Ark. & Texas, lsr. M., gold ($13,000 p. m.).c 1,035
2d M. (income till ’89), gold, ($13,000 p. m .)..c’ 1,035
144
Louis Cairo—1st M., income (not cumulative
161
1st moit., guar., M. & O. (for $4,000,000).... . . .
70
85
1872 $ 100&c.
1878 100 &c.
1,000
1855
1,000
1877
1,000
1872
1,000
1880
1,000
1884
1,000
1,000
500 &0.
100
100
100
1,000
1862
1862 500&C.
1,000
1862
1,000
1862
1862 500&C.
....
1881
1,000
1883
1,000
1887
1,000
100
1,000
1886
1,000
1886
1,000
1881
1886 500 &c.
1,000
1887
1886
1885
1885
1887
$2,480,600
4,000,000 75 cts.
1,500,000
6
1,500,000
5
400,000
10
700,000
6
446,000
8
628,000
6 g.
400,000
5
4,600,000
7,000,000
6 g.
1,680,000
5
2,02?' ,000
5
923,000
3
2,300,000
2,468,400
2k
875,000
7
689,000
7
1,400,000
7
1,400,000
7
1,700,000
7
1,357,000
6
485,000
6
1,000,000
5 g.
500,000
5
10,428,400
13,715,000
6 g.
9,529,000
6 g.
2,600,000
5 g.
1,400,000
4 g.
1,400,000
6 g.
370,000
7
F. & A.
Aug. 1,1887
M. & N. Boat.,Columbian N. Bk. Nov. 1, 1902
F. & A.
do
do
1898
J. & J. N. Y. Central Pac. RR.
1875
J. & J.
do
do
1907
M. A N. Boston, C. Merriam, Tr. May 1, 1902
A. & O. Bost., Am. L. & Tr. Co. Oct. 1, 1910
Q.—J. •
Boston.
April 1,1914
M. & N. N. Y., Central Trust Co. May 1, 1925
J. & J.
do
do
July 1, 1925
J. & J.
do
do
Jan. 1,1927
April, 1884
J. & J.
A. & O.
F. & A.
M. & N.
M. & N.
June 1
J. & D.
M.
F.
A.
J.
J.
J.
N.Y.,Office 34NassauSt. May 1,1886
do
do
July, 1894
do
do
July, 1894
do
do
1894
do
do
1894
do
do
1894
do
do
Jan. 1, 1894
do
do
June 1, 1923
do
do
1917
do*
do
1917
& N. N. Y., Central Trust Co. May 1, 1936& A. Mercantile Trust Co.
May 1, 1936
1921
& O. New York or London.
N.Y.,
Farmers’
L.
&
Tr.
Jan. 1. 1931
& J.
New Vork.
Jan. 1, 1927”
& J.
1936
& J.
Northeastern Railroad of Georgia, $3,168,300 Western North Carolina |for 1886-87 with ii come account wa« in V. 45, p, 112. (V. 43, p, 7 2 ,
HR. common and $3,168,300 pref.; $100,000 Knoxville & Augusta RR., V. 45, p. 1 1 2 , 643.)
$1,302,400 Charlotte Columbia & Augusta RR., $3,577,333 Virginia
Sacram ento Sc P la c erv ille.—Owns from Sacramento, Cal., to
Midland Railway (of which $3,100.000 i lodged), *$1,000,000 Columbia Shingle Springs, Cal. 48 miles. This was a consolidation of the Sacra
& Greenville RR., $49,000 Dan. Mock. & So. W. RR., $300,000 Rich mento Valley and the Folsom & Placerville railroads, April 19, 1877,
mond & Mecklenburg RR., $103,900 Rabun Gap Short Line, $3,133,- Capital stock, $1,756,000. Leland Stanford, President, San Francisco.
980 Georgia Pac. Railroad, $1,500,000 Wash. O. & West.; and the fol
Sagin aw V alley Sc St. L o u is.—Owns from Ithaca to Pains. 36
lowing bonds : $100,000 Knoxville & Augusta 1st mortgage 6 per cents, miles,
and leases Alma to St. Louie and Pains to Saginaw, 9 miles; total,
$368,000 Spartanburg & Asheville 1st mortg. 6 per cents. *$1,325,000 45 miles.
Opened January, 1873. Capital stock, $264,804. In 1886,
Western North Carolina 1st consol, mortg. and *$4,110,000 2d mortg., gross earnings
were $90,131; net, $7,848. In 1885, gross, $74,941;
*$1,603,553 Virginia Midland 6 per cent Incomes, $315.000 Northeast net, $22,909; interest
&c., $35,680. In July, 1879, manage
ern of Georgia general mortg., *$1,778,155 Georgia Pacific 2d incomes, ment was transferred topayments,
the Detroit Lans. & No.
and $299,000 Blue Ridge RR.. $4,100 miscellaneous county and
St. J oh n sb u ry Sc L a k e C h am p lain .—Owns from Lunenburg
township bonds, $625,000 Wash. O. & West. 6 per cent income bonds,
$50,000 Georgia Pacific equip, trust bonds. Total securities owned as Vt., to Maquam Bay, on Lake ChamplaiD, 120 miles, and branch from
above, $10,577,808 bonds, $9,697,933 pref. stocks and $24,801,063 No. Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
common stocks; grand total, $45,076,804. Of these, $21,416,000 (in the Portland & Ogdensburg, Vermont Division, and was reorganized
cluding those marked with a star) were deposited -with the Central Trust under this title in 1880. Preferred stock, $1,298,500; common stock.
Co. of N. Y . as security for the $8,500,000 of its collateral trust bonds $2,550.000. In March, 1884, voted to issue the consolidated bonds, o f
outstanding; those bonds may be redeemed on notice at any time at 105. which $600,000 are reserved to take up its first mortgage bonds.
Operated by Boston & Lowell as its Vermont Division, and all but $41,See abstract of mortgage, V. 45, p. 575.
The prices oi common stock have been as follows :• In 1881,122® 000 of the 5 per cent bonds issued are held by that company.
1741$; in 1882, 23®263; in 1883, 21®39; in 1884, 12®32: in 1885.
St. Joseph Sc G rand Island.-—(See Map o f Un. Pac.—Line of road.
18%® 4 3 k ; in 1886, 2 7 k fr 7 7 k ; in 1887 to Nov. 18 incl., 20%®53. 8t. Joseph, Mo., to Grand Island, Neb., 252 miles; Fairfield to Alma, 85
Pref. in lt 8 7 to Nov. 18 incl., 43®87k. (V. 43, p. 487, 516, 609, 635, miles, total, 338 m. This company was organized in June, 1885, as suc
719; V.44, p. 22, 91, 119, 149, 204, 212, 309, 343, 401, 435, 459, 752 ; cessor of the St. Joseph & Western, soldin foreclosure, and includes also
V. 45, p. 575.)
the Hastings & Grand Island RR. and the bridge at St. Joseph. The
is operated by the Union Pacific, which company guarantees the
R o ch e ste r Sc Genesee V alley.—Owns from Avon to Rochester road
on the first mortgage bonds. In Sep tember, 1886, it was
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to interest
proposed
to begin the construction of branch roads, with bonds
Erie Railway, and now operated by New York Lake Erie & Western. at $15,000
per mile, as per circular in V. 43, p. 399. In 1886 gross
Rental, $34,012. James Brackett, President, Rochester, N. Y.
earnings were $1,169,425; net, $506,962; def. under interest, &e., $9.172.
James
H. Benedict, President, New York. (V. 43, p. 24, 133,275,
Rock. Isla n d Sc P e o ria .—Owns from Rock Island, 111., to Peoria*
Dl., 91 miles ; Rock Island & Mercer Co. RR., 22 miles ; total, 213 miles. 399, 431, 460. 548; V. 44,. p. 23, 60, 185, 300,466, 527; V. 45, p.
113;
V.
45,
p.
614, 6 3.1
The Peoria & Rock Island was sold in foreclosure April 4, 1877,
St. Joseph Sc St. L o u is.—St. Joseph, Mo., to No. Lexington, Mo.,
the bondholders becoming the purchasers. In year ending June 30,
1887, gross earnings were $457,6u 6 ; net, $164,683; surplus over 5 per 76 miles. This was the successor to the St. Louis & St. Joseph
cent dividend, $47,683; paid for construction and equipment, $33,528. Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
City & Northern had a lease of the road, but in July, 1886, the road
Gross in 1885-86, $495,867; net, $113,608; dividend paid, 5 per tent.
went back to its owners. Winslow Judson, President, St. Joseph, Mo.
R o m e Sc C arrollton .—Road completed from Rome, Ga., to Cedar —(V. 43, p. 103; V. 44, p. 149; V. 45, p. 614.)
town, 22 miles, and projected to Carrollton, Ga., 140 m. Stock, $600,000.
St. L o u is A lto n Sc Terre H a u te .—Owns from Terre Haute,
— (V. 45, p. 401.)
tnd., to East St. Louis, 193 miles; proprietary line, East St. Louis to
R o m e Sc D e c a t u r —Road in progress from Rome, Ga., to Decatur, Belleville, 14; leased lines—Belleville & Southern HI. RR., 57; Belleville
Ala., 145 miies, of which 25 miles from Rome are finished. It is & Eldorado road, from Du Quoin to Eldorado. 50; Belleville & Caron
bonded al $15.000 per mile standard gauge road. The bonds were delet RR., from Belleville to East Carondelet, 17; St. Louis Southern,
offered in New York by Grovesteen & Pell. (V. 45, p. 341, 438, 573,614.) Carbondaie to Marion, 50; total, 381 miles. This company was a reor
ganization, Feb. 18,1861, of the Terre Haute Alton & St. Louis RR.
R o m e W a te r to w n Sc O gdensburg.—(&ee Map.)—Prom Niagara The Bellev. A So. Illinois is leased to this company for 999 years from Oct.
Falls to Massena Springs, 301 miles; Lewiston Junction to Lewiston, 3 k 1,1866, and the Bellev & Carondelet for 983 years from Jan., 1883, at
miles; Syracuse to Sandy Creek, 44 miles; Richland to Rome, 41 miles; a rental of $30,000 per year, which is a guarantee of int. on the bonds;
Watertown Junction to Cape Vincent, 24 miles; DeKalb Junction to the stock of $500,000 is owned by the St. Louis A. & T. H. The St. Louis
Ogdensburg, 19 miles; Rochester to Windsor Beach, 7 miles ; Syracuse Southern RR. and leased lines, 50 miles, was leased in Dec., 1886, for
to Oswego, 36 miles ; Utica to Ogdensburg, 134 miles; Carthage to Sack- 30 per cent of gross earnings, minimum to be $32,000. The main
etts Harbor, 30 miles ; Theresa Junction to Clayton, 16 miles; total, line (St.L. Alton & T. H.) was ceased Nov. 1, 1882, to the new Indianap.
656 miles. The Utica & Black River road and branches were leased in & St. L. Railway and the Cleve. Col. Cin. & Indianapolis jointly. Under
April, 1886, the R. W. & O. guaranteeing fixed charges and 7 per cent this new lease the rent guaranteed is $450,000, and that amount is all
per annum on the stock.
that is to be paid unless the gross earnings exceed $1,750,000 in any
The R. W. & O. was a consolidation Oct., 1861, of the Watertown & year ending Oct. 31, and then 20 per cent is to be paid of the excess of
Rome and the Potsdam & Watertown railroads. The Lake Ontario Shore gross earnings over $1,750,000.
Railroad was acquired January 15,1875; the Syracuse Northern, Aug.
The Belleville Branch and Extension are operated separately by this
1,1875. The Oswego & Rome was leased January 1,1866, at 8 per cent company. The Belleville & Eldorado was leased for 985 years from
on stock and interest on bonds. The Niagara Falls Branch road was July 1,1880, at a rental of 30 per cent on the gross earns., but $15,400
leased Nov. 1,1881, at 7 per cent on its stock of $250,000.
per year guaranted. The Belleville & Carondelet is leased at $30,000In April, 1886, the income bonds were offered an exohange of 40 per
annum.
cent in the 5 per cent consol, mort., due 1922, and 60 per cent in stock, per
The Chicago St. Louis & Paduoah road is leased for 980 years at 30
and the bonds have been about all exchanged.
per cent of gross earnings, with guarantee of rental to pay 1st mortgage
From Oct. 1,1886, to Sept. 30,1887, gross earnings, including the interest.
Black River, were $3,138,448, against $2,806,965 in 1885 6; net,
Deo. 31,1886, sinking fund held of the first mortgage bonds $636,000
$1,412,446, against $1.222,H40.
and $434,519 cash. The preferred stock has a prior right to a cumula
Earnings, expenses and charges in 1885-6 and 1884-5 were as below, tive dividend of 7 per cent before any is declared on common. It is
Including the Utica & Black River for six months in 18s5-6 :
also convertible into common at p a r; but shall not receive any dividend
as common stock for the time it was held as preferred. In Jan., 1881,
1885-6.
1884-5.
$1,702,732 the company declared 3 per cent in cash on the preferred stock and
Gross earnings............................................ $2,406,793
Net income...................
$941,244
$563,141 afterward settled the remaining 55 per cent of accumulated dividends
Interest and rentals..................................
693,480
547,692 by the issue of income bonds.
The annual report for 1886 was in V. 44, p. 550.
Cairo Short Line Division, including the roads directly operated
Surplus for year............................
$247,764
$15,449 byThe
this company, made the following exhibit:
Charles Parsons, N. Y., President.
EA R N IN G S . E X P E N S E S A N D R E N T O F L E A S E D L IN E S .
- ( V . 43, p. 217, 218, 245, 488, 635, 747; V. 44, p. 91,119, 244, 752;
1883.
1884.
1885.
1886.
V. 45, p. 113, 212, 240, 401, 509, 540.)
$741,050
$766,316
$8o3,991
Gross earnings.............. $832,468
406,160
397,347
408,896
R u tla n d .—Owns from Bellow’s Falls, Vt., to Burlington, Vt., 12o Oper. expen. and taxes.. 425,635
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been
$395,09$
$368,969
$334,989
through many charges. It was leased to the Cent. Vermont in Dec.,1870,
Net earnings............$406,833
214,482
203,971
203,381
for 20 years, but the lessee became insolvent, and finally a modification Rent leased roads.......... 200,897
of the lease was made, giving $250,000 per year as a minimum rental
$180,613'Vet
revenue............
$205.935
$131,018
$165,587
and $8,000 for organization expenses. The 5 per cent 2ds are a first
mortgage on rolling stock and personal property. The annual report -(V. 43. p. 719; V. 44, p. 5 5 0 , 752; V. 45, p. 166, 273.)
N ovember , 1887.]
RAILBOAD
STOCKS
AND
BONDS
'¿ Ü
99
lOO
K
gi-NVESTOKS’
SUPPLEMENT.
[Vol. XLV.
Subscribers w ill confer a great favor by g iv in g im m ediate notice of any error discovered in tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When
Pai
For explanation of column headings, «fee., see notes of
Stochs—Last
of
Whom.
on first page of tables.
Dividend.
Road. Bonds Value. Outstanding
Cent. Payable
1st preferred, 7 per cent, not cumulative..............
1st mortgage (South Pacific), gold, (land grant)...
2d mortgage bonds, A, gold......................................
do
do B, g o ld ...................................
do
do C, gold......................................
Equipment mortgage, gpld.......................................
Mortgage on Mo. & Western RR., gold...................
Collateral trust bonds, g old ......................................
St. Louis Wichita & W est , 1st mort., gold, guar. . .
Gen. M., gold, coup, or reg (a 2d M. on 2 93miles)
Equipment Trust.......................................................
Kansas C. & Southw.. IstM ., gold ($12,000 p.m.).
St. L. Kan.&S. W .,lst M.,g. guar.($15,000 p. m.)
Ft. smith & Van Bur.B’dge, 1st mort., gold. guar.
St. Louis Southern—1st mortg., gold.........................
2d mortg. income, non-cumulative................................
8t. Louis Vandalia <£ Terre Haute—1st M. s. f. guar.
2d mort., sink, fund ($1,600,000 guar.)................
St. Paul Duluth—Preferred 7 p. c. stock & scrip.
Common stock ............................................................................
1st mort. bonds, coup, or reg .............................................
Taylor’s Falls & Lake Sup., 1st mort., cp.,guar ___
Duluth Sbort Line, 1st mort., coup., guar .................
135
135
1,316
1876
1876
$ 1,000
1,000
293
293
293
293
1868
1876
1876
1876
1880
1879
1880
1879
1881
1884
1886
1886
1885
1887
1886
18S6
1867
1868
500 &c.
100 &e.
500 <fec.
500 &c.
1,000
1,000
1,000
1881
1884
1886
1,000
1.000
1,000
....
84
100
145
364
63
55
33
33
158
158
225
225
169
21
25
....
1,000
....
1,000
1.000
1.000
1,000
1,000
1,000
1,000
....
....
St. L o u is A rk a n sas Jk T e x a s.—(See Map.)—Road from Birds
Point, Mo., opposite Cairo, HI., to Texarkana, Tex., 418 miles, and
thence by the Texas road to Gatesville, 305 miles; total, main line, 723
miles; branches, Paw Paw Junction to New Madrid, 6 miles; McNeil
to Magnolia, 7 miles; Sherman branch, 115 miles; Tyler to Lufkin, in
Texas, 90 miles; total, Aug. ’ 87,940 miles. Branches and extensions are
In progress. The road was opened in 1883. The road in Texas was
foreclosed December 1,1885. Ili6 Missouri & Arkansas Division was
sold on Feb. 27,1886. The present organization, widen was formed in
1886 after the foreclosure of the Texas & 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 Octobt r, 1887, the cosolidation with the Little Rock and Shreveport
branches was perfected.
The new companies issue six per cent 50-year first mortgage bonds
to amount of $13,000 per mile; six per cent 50-year second mortgage
bonds $13,000 per mile, the first coupon payable Aug. 1, 1889; and
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 & Arkansas and in Texas are deposited with the Central
Trust Co.; the 2d morts. borh 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 each,
entitling the holder of each class to the security of the mortgages on
both the Mo. & 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, were $1,829,058; net, $340,670. (V. 43, p. 50,103,
275, 459, 488, 608; V. 44, p. 91, 149, 459, 654, 681, 808; V. 45, p. 85,
211, 512, 540, 643. 673.)
St. L o u is Sc C a ir o .—This road extends from Cairo to East St. Louis,
152 miles, with a branch to High Prairie, 9 miles. The former Cairo &
St. Louis made default April 1, 1874, and was 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
cent (fB064o) ° f the gross revenue of the whole line, Mobile to St.
Louis, this rental being guaranteed by the lessee to amount to $165,000
per year. The issue oi $2,6o0,000 income bonds was to be retired with
part of the $4,000,000 mortg. bonds, which are guaranteed by the M. &, O.
St. L o u is & C hicago —Owns from Springfield to Litchfield, 111.*
and Mount Olive, 70 miles; to be extended in 1887 to Eureka, 111., to a
Junction with the new Atchison line, with which line it will work in
close harmony. From Litchfield to St. Louis trains run over the C. C. C.
& I. tracks 57 miles, under a traffic agreement. Total operated, 127
miles.
St. L o u is & H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on
Wabash St. Louis & Pacific, 82 miles; uses 2*3 miles Missouri Pacific
track; total operated, 84^ miles. This company is successor to the
former St. Louis Han & Keokuk, sold in foreclosure Dec. 8,1885. The
principal owners were Mr. John I. Blair and the estate of Moses Taylor
in New York, who became the purchasers. The stock is $1,000,000 au
thorized and $452,000 issued. Gross earnings in 1885, $106,969;
operating expenses, $216,049; deficit, $109,081. Gross earnings i n ’86
were $121.367; net, $30,130; surplus over interest, $4,230. John I.
Blair, President
St. L o u is K e o k u k & N orth w estern .—Owns from Keokuk,
la., to St. Peters, 135 miles; leases Keokuk to Mt. Pleasant, 49 miles.
This road was foreclosed October 19,1887, and bought in the interest
of Chicago Burlington & Quincy. (Y. 44, p. 782; V. 45, p. 473, 540.)
St. L o u is & San F ran cisco.—(See mop.)—L i n e o f R o a d —This is
a considerable system of railroads, forming part of a through route to the
Pacific coast. The main line is from St. Louis, Mo., to Seneca, 326 miles;
branches—Granby branch, 2 miles; Oronogo, Mo., to Galena, 18 miles;
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 m.; Springfield to Bolivar, Mo., 39 m.; CubaJunct’n
to Salem and branches, 54 m.; total owned, 929 miles; leased, Beau
mont to Bluff City, Kan., 105 miles; total, 1,204 miles; 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 & Pacific road. Central Division, from Seneca, Mo., to Sapulpa,
in the Indian Territory, 112 miles; total operated, 1,316 miles.
O r g a n i z a t i o n , &c.—This company was organized Sept. 20, 1876, as
successor to the Atlantic & Pacific in Mo. The latter embraced the South
Pacific RR. (originally the Southwest Branch of the Pacific RR. of Mo.,
chartered Dec. 25,1852), which was consolidated with the Atlantic &
Pacific road Oct. 25, 1870. The Atlantic & Pacific road and lands were
sold in foreclosure Sept. 8, 1876, and the St. Louis & San Francisco
became possessor of the property.
This company is jointly interested in the Atlantic & Pacific RR. with
the Atch. Top. & Santa Fe, and guarantees one-half the 1st mortgage
bonds severally, not jointly.
In January, 1886, leased for 99 years the Kansas City & Southwest
ern RR., from Beaumont, Butler Cuunty, Kansas, to Cale, in Cowley
County, 62 miles, at a rental guaranteed to pay the interest on the l6t
7 g.
$1,620,000
l|080j)00
7
11,845,900
2*3
9,768,400
4,500,000
3ia
7,144,500
6 e.
500,000
6 g.
2,766,500
6 g.
2,400,000
6 g.
651,000
7 g.
1,090,000
6 g1,224,000
6
6
2,000,000
12,739,000 5 & 6 g.
349,000
6 g.
744,000
6 g.
835,000
6 g.
6 *.
475,000
5
810,000
550,000
4 g
525,000
5
1,899,000
7
2,600,000
7
5.376,970
3ia
6,000,000 3 & 15 st
1,000,000
5
210,000
6
500,000
5
J. & J.
J. & J.
Jan. 1, 1906
F. & A. N. Y ., Office 15 Broad St
do
J. & J.
do
do
M. & N.
do
do
M. & N.
do
do
M. & N.
do
J. & D.
do
do
F. & A.
do
do
F. & A.
do
do
M. & S.
do
do
do
J. & J.
do
do
A. & O.
do
do
J. & J
do
do
M. & 8.
do
do
A. & O.
do
J. & J.
M. & 8. N.Y. So. L. A. & r . h . co.
do
M. & S.
do
J. & J. N. Y., Central Trust Co.
M. & N. N. Y.. Third Nat. Bk.
J. & J. N. Y., Fourth Nat. Bk
do
do
F. & A. N.Y., Central Trust Co.
do
do
J. & J.
do
M. & S.
do
Oct. 31, 1887
Aug. 10, 1887
July, 1888
Nov. 1. 1906
Nov. 1, 1906
Nov. 1. 1906
June 1, 1895
Aug. 1, 1919
Aug., 1920
Sept., 1919
July 1 1931
A.&0.5p.c. ea.
Jan. 1, 1916
Sept. 1, 1916
April 1. 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
mortgage bonds. The bonds ore redeemable on notice at 110. The stock
of 1he St. L. K. &S. W. (Ark. City to Caldwell, Kan., 47 m.) is owned and
the bonds guaranteed.
In 1886 the St. Louis Salem & Arkansas road, 55 miles, was acquired,
and its bonds guaranteed.
Stocks and Bonds.—The first preferred stock has prior right to 7 per
oent (non-cumulative); then prei. entitled to 7 per cen t; 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 follow s: “ This stock is entitled to a dividend of 7 per cent per
annum, derived by the company from net revenues from all sources
each current year (remaining after the payment of interest upon all
liabilities) * * * and bv resolution of the company has priority of lien
on net revenues for such 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
revenue remaining after the payment of interest on all liabilities.
Dividends have been paid on first preferred stock in 1881 and sinoe
at 7 per cent per annum.
The range of the stocks yearly since 1877 has been : First preferred in
1878 (4 months), 5*2® ll^ t ; in 1879, 9%®781a; in 1880, 60®100; in
1881, & 0® 115i«; in 1882, 793p®1061a; in 1883, 87®100Hi; in 1884,
70®961g; in 1885, 79 ®99^; in 1886,97® 1181«; in 1887 to Nov. 18, in
clusive, 107® 120.
Preferred stock in 1878, l 1a®5:i4 ; in 1879, 4*8®60*2; in 1880. 33®
65; in 1881, 55®81J4; in 1882, 43®66ifl; in 1883, 40® 59ig; in 1884,
241a®50; in 1885, 30®497s; in 1886, 371s®7238; in 1887 to Nov. 18,
Inclusive, 611a®841s.
Common in 1878 (3 months), H s®4i8; in 1879, 31e® 53; in 1880, 254*
®48; in 1881,39® 55; in 1882, 31®467s; in 1883. 20ifl®36^; in 1884,
l l 1a®291fl; in 18 8 5,171a®24is; in 1886,17®36%; in 1887 to Nov. 18,
inclusive, 30®44%.
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. S. Trust Co. as trustee, and $17,261,000 reserved
to take up all prior debt. This general mortgage 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 unaer this mortgage in 1886 were for
the construction of 185 miles road, including the line from Fort Smith,
Ark., to Texas.
The St. L. Kan & So.Western bonds are issued at $15,000 per mile, and
are redeemable at 110 on any interest day, at four weeks’ notice.
The Fort Smith & Van Buren Bridge bonds are guaranteed by the 8t.
L. & 8. F. Co., and have a sinking fund of 5 per cent yearly after 1889
to purchase the bonds at 105; they are redeemable also at 110 at co.’s
option. The land department assets were estimated Dec. 31,1886, at
$771,531, including 138,756 acres of land valued at $356,604,1,263
town lots valued at $35,890, $256,447 in land contracts and $120,
591 cash.
Operations, Finances, &c.—The St. Louis & San Francisco has been
one of the successful reorganized railroads of the Southwest, and has
made good progress in traffic and income, without very heavily increas
ing its annual interest charges.
The annual report for 1886 was in Y. 44, p. 619, 622.
IN C O M E
Receipts Gross earnings........
Net earnings............
Other receipts........
Total net income
Disbursements—
Int.,siuk. fd. &ients
Divs. o n lstp f stock.
Rate of dividends..
Miscellaneous . . . . .
1883.
$
3,896,565
2,073,437
24,376
ACCO U N T.
1884.
$
4,643,596
2,508,218
14,830
1885.
$
4,383,406
2,433,662
19,782
1886.
$
4,874,628
2,652.332
159,619
2,097,813
2,523,054
2,453,444
2,811,951
1,343,436
315,000
7
11,004
1,826,203
315,000
7
242
1,751,215
315,000
7
4,732
1,950,323
315,000
7
5,974
2,141,445
Total disbursem’ is 1,669,441
2,070,947
2,271,297
428,373
381,609
382,497
Balance, surplus...
540,654
—(V. 43 p. 24, 571, 579. 608; V. 44, p. 204, 43>, 459, 466, 551, 604,
6 1 9 , 6 2 2 , 654; V. 45, p. 54.)
St. L o u is Sou th ern .—Owns road from Pinckney ville, 111., to Carbondale, 111., 33 miles, and leases Carbondale & Shawneetown road to
Marion, 17^2 miles; total operated, 50^ miles. This comp my was
organized Aug. 3,1886, as successor to several others foreclosed. On
Dec. 1,1886, made a lease for 980 years to the St. Louis Alt. & T. H., at
a rental of 3u per cent gross earnings, and a guarantee of interest on
1st mortgage bonds.
St. L o u is V a n d alla & Terre H a u te .—Owns from East St.
Louis to Indiana State line, 158 miles. Road opened July 1, 1870.
It is leased to the Terre Haute & Indianapolis Railroad at a rental
of 30 per cent of gross earnings. In July, 1887, suit was brought by
Penn. RR., owner of a majority of the stock, to annul the leaser For
the year ending October 31,1886, rental was $443,499, and charges were
$370,691, leaving a surplus of $72,808. In operating this road the loss
to lessee has been m 1832-83, $115,399; in 1883-84, $71,549; in
1884- 5 profit $39,169; in 1885-6 profit $23,687. The annual report for
1885- 86 was published in the Chronicle, V. 44, p. 148. The first mort
101
STOCKS A N D BONDS.
RAILROAD
1887.J
Novem ber,
102
INVESTORS’
SUPPLEMENT.
[Vol. x l v .
N ovem ber,
1887.]
RAILROAD
S I OCRS
AND
BONDS,
103
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these T ables.
Bonds—Prln. Η
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal, When Due..
Amount Rate per When
Par
of
of
Stocks—Last
Where
Payable,
and
by
For explanation of column headings, &c., see notes
Outstanding Cent.
Road. Bonds Value.
Dividend.
Payable
Whom.
on first page of tables.
St. Paul M inneapolis A Manitoba—Stock.................. 2,611
76
2d M., and 1st on road from St. Paul to Watab —
1st mort. land grant sinking fund, gold................ 656
2d mort., gold............................................................. 656
Dak. Ext., 1st mort., gold ($12,000 per mile)........ 473
Consoi mort.,gold ($13,344,000 are 6s). cp. or reg. 2,201
1st M.,g., Montana Div. (ior$25,000,000)...o*& r 280
Minneap. Un. RR.. 1st M., gold,guar.($3,000,000)
St. Paul tt No.Pac.—Stock ($10,000,000 authorized) 152
Gen. M., gold. Id. gr., coup, or reg. ($10,000,000) 152
Western RR., Minn., 1st mortgage, R R ................. 60^
150
Fan Antonio dt Aransas Pass—1st mort., gold........
1st M., Mtn. ex., g. ($12,000 p.m.), l e l ’ m at HO.c 217
Sandusky Mansfield dt Newark—Re-organized stock 116
1st mortgage, new..................................................... 116
30
Savannah Dublin dt Western-1stm ,$15,000 p. m.
Savannah Florida dt West. -A t. & G. consol, mort.. 286
58
South Georgia & Florida, 1st and 2d mortgages...
Sav. Fla. & W., 1st m ortgage.................................. 525
60
Savannah Qrijfin dt N.Ala.—1st mortgage................
14
Schenectady dt Duanesburg—1st M., guar. D. & H .
19
Schuylkill Valley—Stock.............................................
98
Scioto Valley—1st mort. (8. fund $13,000 per year).
98
2d mortgage (sinking fund, $5,000 per year).......
Consol, mortgage....................................................... 124
Equipment bonds......................................................
80
Seaboard dt Roanoke—Stock ($244,800 is pref.).......
Debentures....................... ....................................... r
81
Mortgage for $2,500,000..... ................................ c*
$100 $20,000,000
l'a
Q.—F.
N.Y., 40 Wall St.
366,000
1,000
7
1862
J. & J.
do
do
4,991,000
1879 100 &c.
7 g. J. & J. New York and London.
1,000
8,000,000
1879
6 g. A. & O.
do
do
5,676,000
1,000
6 g. M. & N.
1880
N. Y., 40 WaU St.
1,000 23,444,000 4*2 & 6 g. J. & J.
1883
do
do
4 g. J. & D.
1887 l.OOO&c 7,000,000
do
do
2,150,000
1,000
1882
6 g. J. & J.
do
do
.
100
5,000,000
1*3
Q.^T. N.Y., Winslow, L. & Co.
6,300,000
1,000
1883
6 8- F. & A.
do
do
438,000
7
1,000
M. & N.
1877
do
do
1,000
1,750,000
1885
6 g. J. & J. N.Y.,S.M.Swenson&Son
1,000
2,598,000
6 g. J. A J.
1886
do
__
50
1,068,832
3
Moss N. Bk.,Sand’kv.O.
1,000
2,300,000
7
J. & J. N. Y.. Union Trust' Co.
1869
450,000
6
J. & J.
1886
Philadelphia, Pa.
1,730,500
7
J. & J. N.Y. ,H.B. Plant,&Savan
1867 500 &c.
1,000
664,000
7
M. & N.
1869
do
do
1,000
6
2,188,000
A. & 0.
1884
do
do
1,000
500.000
7
J. & J. Savannah, Cent. RR.Bk
1871
500,000
6
M. & S. Del. & Hud. Canal Co.
1874 lOO&o.
50
576,050
2*a J. & J. Philadelphia, Office.
1,294,000
7
J. & J. Last paid July, 1884.
1876 500&c.
1,000
283,000
7
A. & O. Last paid April, 1884.
1879
1,000
553,000
7
J. & J. Last paid July, 1884.
1880
....
82,000
7
M. & N. N. Y., Winslow, L. & Co.
100
1,302,800 5 on corn. M. & N. Balt.,Farm.&Plant. Bk.
6
690,000
1886 100 &c.
F. & A.
Portsmouth, Va.
1,000
298,000
5
1886
J. & J. New York, Balt. & Phila.
Nov. 1, 1887
July, 1892
1909
Oct. 1, 190»
Nov. 1, 1910
July l, 1933
June 1, 1937
July 1, 1922
Oct., 1887
Feb. 1, 1923
May 1, 1907
Jan. 1, 1 9 1 »
July 1, 1926
Feb. 1, 1886
Jan.. 1909
Jan. 1,1916
July, 1897
May 1, 189»
April 1, 1934
July 1, 1891
Sent. 1, 1924
July 13,1887
Jan. 1, 1896
April 1, 1894
July 1. 1910
Nov. 1, 1887
Aug., 1916
1926
IN C O M E A C C O U N T .
and $1,000,000 of second mort. bonds are guar, by the lessees and also
1883-84.
1884-85.
1886-87.
1885-86.
by the Pittsb. Cin. & St. L. RR. The stock is $2,379,358 common and
Receipts—
$
$
$1,544,700 pref. In 1884-85 gross eam's were $1,372,648; net, $450,4,327,478
3,483,084
4,266,237
3,713,553
963. In 1885-6, gross, $1,478,330; net, $467,186. Thos.D. Messier. Pres., Net earnings............
Rev.from L’ndDep’t
418,270
131,292
415.782
350,114
Pittsburg, Pa. (V. 44. p. 9 1 ,1 4 8 , 714 ;V. 45. p. 45, 85,113, 540.)
214,434
66,284
171,116
514,447
St. P a u l & D u lu th .—Line of R oad .—St Paul, Minn., to Duluth, Other receipts. . . . . . .
Minn., 155 miles; branch to Knife Falls, 6 miles; leased; Stillwater
4,643,782
4,960,182
4,463,813
4,004,314
St. Paul RR., 13 miles; Minneapolis & Duluth RR., 13 miles; Taylor’s
Total incom e. . . .
$
Falls & Lake Superior, 21 miles; Grantsburg Branch, 17 miles; total,
Disbursements—
2,170,409
1,980,200
1,999,820
1,949,690
225 miles. Between Northern Pacific Junction and Duluth, 24 miles, Interest on debt___
1,200,000
1,300,000
.1,200,000
1,600,000
Dividends................
the road is owned jointly with the Northern Pacific.
6
6
6*a
The Duluth Short Line road from Thomson to Duluth, 25 miles, is Rate of dividend....
8
415.782
350,114
131,292
418,270
leased to the St. Paul & Duluth, an 1 the bonds of $500,000 guaranteed. Sinking fund........
600,000
381,545
This was the Lake Superior & Mississippi RR., opened August 1, Imp’ts & renewal fd.
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875,
4,386,191
3,549,934
3,411,492
4,349,505
and road sold in foreclosure May 1,1877, and this company organized
Tot. disburse’ts..
257,591
454,380
1,052,321
610,677
June 27. The preferred stock is received in payment for lands at par. Balance, surplus....
Three shares of common stock have one vote and each share of pre - (V. 44, p. 402. 681; V. 45, p. 55, 240, 257,342, 4 7 1 ,5 1 0 , 5 2.)
ferred has one vote. Preferred stock has a prior right to 7 per cent;
St, P a u l & N orthern Pacific,—Line of road Brainerd to Minneap
then common to receive 6 per cent from net earnings.
Important propositions were voted on at annual meeting June 20, olis, 139 miles, and branches to St. Paul, 10 miles; total, 149 miles.
1887. tSeeV. 44, p. 809.) A dividend of 3 per cent in cash and 15 This company was incorporated in 1874 as the Western 4R. Co.
of Minnesota; from Sauk Rapids to Minneapolis was completed July
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 l , 1884, and from Minneapolis to St. Paul, February 1. 1836. The
sold Dec. 31,1886, and 69,680 acres of the Taylor’s Falls Branch. In terminal improvements at Minneapolis are on 20 acres in the business
’86 land and stumpage sales amounted to $163,057, anddef’d payments centre of the city, and for similar purposes in and about Minneapolis and
(land accounts) Dec. 31, 1886, were $314,001. Gross earnings and St. Paul, a total of 400 acres is owned. The land grant of the company
net income on railroad only, after deducting all fixed charges, were as is located along the line of the road between Brainerd and Sauk Rapids,
below, but in 1886 $568,315 and in 1885 $167,186 for ‘ improve and about 210,000 acres remain unsold. The land proceeds are first
ments ” and “ betterments” was charged in oper. expenses, while in prior 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 ltsyears improve’ ts had bi en charged to “ cost of road and equipment.”
Gross earns. Netinc’me I
Gross earns. Net ino’me. terininal property, is leased for 9910 years to the Northern Pac. at a net
rental equal to 40 p. o. of the gross receipts, but the bonds are guaran
1881
.... $732,630 $50,249 1884................................ $1,317,314$398,091
teed principal and Interest. The stock is placed in trust with Farmers’
1882
.... 1,109,840 261,246 11885................................. 1,381,212328,610
1883
.... 1,328,527 271,186 |1 8 8 6............ 1,558,085 def.14,529 L. & T Co., the power to vote being held by Northern Pacific Company;
A summary of the report for the year ending June 30,1887, was in_V. but “ beneficial certificates ” entitling holders to dividends are issued.
45, p. 341, showing total net receipts, including land sales, $975,359. The registered interest on the gen. mort. is payable quarterly—Feb.,
May, Aug. and Nov. (V. 44, p. 22,90; V. 45, p. 40 l, 438.)
—(V. 44, p. 621,682, 714. 717, 753, 809; V. 45, p. 85,143, 341.)
St. P a u l M in n eap olis & M a n ito ba —(See Map).—Owns from St.
San A n ton io & A ran sas P a ss.—Road extends from San Antonio
Pau), via Barnesvilie, to Emerson, 392 miles; Minneapolis to Gretna to Aransas Bay, Texas, 150 miles, and Gregory to Corpus Christi, 13
' via Breckinridge, 413 m .; Minneapolis to Hinckley via St. Cloud, 132 m . ; Kenedy to Cuero, 43 m .; San Antonio to Boerne, 32 m.—total
m .; St. Cloud to Willmar, 55 m.; Elk River to Milaca, 32 m.; Botti completed, 238 miles. Extensions are in progress.
neau Branch, 39 m.; Sauk Centre to Eagle Bend, 36 miles; Fergus
The mortgage first given above covers the 150 miles from San Antonio
Falls to Pelican Rapids, 22 miles; Crookston Junction to Minot, 231 to Aransas Bay. The bonds after that are issued at $12,000 per mile o n
miles; Shirley to St. Hilaire, 22 miles; Wayzata to Spring Park, 6 new road completed. The Farmers’ L. & Tr. Co., of N. Y., is trustee of
miles; Morris to Brown’s Valley, 47 miles; Breckenridge to Park River, both mortgages. Abstract of 1st mort. on ex ten-ions in V. 45, p.372.
168 miles; Everest to Portland (via. Mayville). 50 miles; Ripon to Hope, Capital stock issued, $2,617,200. In the thirteen months to March 1,
30 miles; Moorhead to Halstad, 34 miles; Tintah Junction to Ellen- L887, on an average of 78 miles, gross earnings w ire $205,183; net,
dale, 104 miles; Rutland Junction to Aberdeen, 64 miles; Hutchinson $116,968; surplus over interest, $60,833. U. Lott, Pres’ t and General
Junction to Hutchinson, 53 miles; small branches, 5 miles; total oper Manager. (V. 44, p. 495, 751, 809; V. 45, p. 372, 509, 512.)
ated June 30,18*7, 1,935 miles. Newlines not included in the foregoiog,
Sandusky M ansfield & N ew a rk .—Owns from Sandusky, O., to
Minot to Great Falls, 5f 0 miles; Evansville to Tintah Junction, 3 3 mi!e3;
Benson to Watertown, 93 miles. Total mileage Nov. 1 ,1887,2,611 miles. Newark, O., 116 miles. A consolidation of several roads in 1856.
Leased
Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
This company was organized May 23, 1879, under the charter
of the St. Paul & Pacific Railroad, and embraced the St. Paul & Pacific & Ohio, and new lease made February 23,1880, extending to December
1,1926,
with option to the Balt. & Ohio Company to renew for terms
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red
River Valley Railroad, and the Red River & Manitoba Railroad. The of 20 years each. Rental was $194,350 yearly till 1884; $199,350
in
1884
and
1885; now $201,850 annually. It is operated as Lake
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 Erie division of the Baltimore & Ohio system. In 1885-86, gross
$1,013,014;
net,
$309,711; in 1884-85, gross, $817,785; net, $119,919.
sales are reserved by the first mortgage trustees as a sinking fund for
Savannah D u b lin & W e ste rn .—Road in progress from Savan
the redemption of the bonds at or under 105 and interest, and bonds
are called iu yearly so far as the funds are in hand. The second mort nah to Americus, Ga., and branch to Macon. 253 miles. Stock, $2,000,gage bonds do not cover the land. The land sales for year ending June 000, $15,000 per mile. A. B. Linderman, Philadelphia, President.
30, 1887, were 62,632 acres for $407,115, and 181 town lots for $10,Savannah F lo rid a & W e ste r n .—Owns from Savannah, Ga., to
854. The net amount due on land contracts June 30,1887, was $191,- Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to Bain894, bearing 7 per cent interest; lands unsold, 2,690,435 acres.
bridge, 9 miles; extension to Savannah wharves, 1*70 miles; Junction
Sinking fund June 30, 18-7, applicable to redemption of 1st mortgage Branch, 4 miles; Dupont to Gainesville, 118 miles; Tuomasville to
land grant bends was $563,264, of consolidated bonds, $20,624.
Albany, 58 miles; Waycross to Jacksonville, 75 miles; Fort White,
The Dakota Extension bonds are issued at $12,000 per mile. The Fla., to Lake City, F ia , 20 miles; total, 545 miles. This was a
authorized amount of consolidated mortgage bonds is $50,000,000, ol consolidation in 1865 of the Savannah Albany & Gulf Rail
which $19,426,000 were reserved to pay prior liens, and the balance road and the Atlantic & Gulf under the latter name. The Atlan
may be issued for new road at $15,000 per mile single track or $27,000 tic & Gulf road was sold in foreclosure of the second mortgage
per mile double track. The Minneapolis Union RR. is a short line through on November 4, 1879, subject to the consolidated mortgage and
Minneapolis for passenger service including stations and bridge over other prior liens amounting to about $2,465,000. The present com
the Miss River, and its stock of $1,000,000 is held in trust and is covered pany has a capital stock of $5,340,300, which is held in very few
by the lien of the St. P. M. & M. consol, mortgage. The fifty-year 4 per hands and dividends are paid as earned; in March, 1886, 3 ^ per cent
cent bonds were issued for the extension from Dakota to ureat Falls, paid; in March, 1837, 2 percent. The earnings in 1885 were $2,461,613
Montana, about 450 miles. The bonds are limited to $25,000 per mile gross and $468,799 net; fixed charges, $300,279; surplus, $164,356.
on road and equipment (and $15,000 per mile for second track), and In 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, eto., $96,489. H. B. Plant. Pres., New York. (V. 44, p. 344.)
authorized amount of $25,000,000 to provide for future extensions an
Savannah Griffin & N orth A la b a m a . Owns from Griffin,
branches. (See abstract of moitgage 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
1883-84.
1884-85.
1885-86.
1886-87.
ings $62,518; deficit, $6,083. In 1884-5, gross, $58,841; net, $6,244,
Miles operated........
1,397
1,471
1,509
1,935
—
(V.
45,
p.
54.)
$
$
$
$
Schenectady & D u an esbu rg.—From Quaker Street Junction,
Gross earnings........
8,256,868 7,776,164 7,321,736
8,028,44>X.
Y.,
to
Schenectady,
N. Y., 14 miles. Formerly Schenectady & Sus
Oper. exp. & taxes..
3,929,390
3,500,927
3,838,652 4,314,8v5
quehanna Railroad, and was foreclosed in 1873; reorganized and leased
Net earnings....
4,327,478 4,266,237
3,483,084
3,713,551 in perpetuity to the Delaware & Hudson Canal Company. Lease rental,
$30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
P.c. of op.ex to earn.
47*59
45 13
52*43
53*74
104
INVESTOKS’
SUPPLEMENT.
[V ol.
XLV,
N o v e m b e r , 1887. j
RAILROAD
STOCKS AND
BONDS.
105
Subscriber» w i l l confer a great fa v o r toy g iv in g Im m ed iate n otice o f a n y error discovered In these T a b les.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Du®.
Amount Rate per
For explanation of column headings, «fee., see notes of
of
Par
When
and by Stocks—Last
on first page of tables.
Road Bonds Value. Outstanding Cent. Payable Where Payable,
Whom.
Dividend.
Seattle Lake 8. & East.—1st M.. g., $25,000 per m.
SKamokin Sunbury «£ Lewisburg—1st mort., coup
2d mortgage..............................................................
SKamokin Valley <&PottsviUe—Stock, gu ar.............
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 trust certificates................................................
Sheffield <6Birmingham—1st M.,g. (S15,006'p!m.*)c&r
2d mort. ($10,000 per mile).....................................
Shore Line ( Oonn.) —Stock......................"."".I!” I” *
1st mortgage.....................................” *
.........
Shreveport &Houston—1st, g. guar." by h ! E." & W. t !
Stiver Springs Ocala <t Gulf—1st M, g,($ 13,000 p.m.)
Somerset—1st mortgage, gold.....................................
South Oarolina—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. <6Ho. Alabama—1st M., endorsed by Alabama.
Sterling mort., s. fund, guar, by L. <feN ...............
2d mortgage bonds (owned by L. & N.)..................
New bonds (for $10,000,000)...................................
South Pacific Ooast—Stock.........................................
South Pennsylvania—Stock (for $20,000,000)..........
1st mortgage (for $20,000.000)..............................
Southern Cent. (N. S .)—Consol, mort. convertible
Southern Pacific OOMPANY-Stotik ($100,000,000)
40
31
” 29
28
144
254
254
90
90
50
50
40
25
247
247
247
247
247
132
181
183
183
*80
1886
1882
1884
$ 1.000
1,000
187Ì
1880
1881
1883
1,000
50
500 «fee.
1,000
1,000
1,000
1886
1886
l",ÖÖ0
1,000
lèso
1881
1885
1871
100
1000& C .
1,000
1,000
100
100
Ìè‘68 Various
1881
1881
1881
1885
1870
1873
1880
1887
1,000
1,000
1,000
1,000
1,000
£200
1.000
1,000
1,000
$1,000,0 tO
1,000,000
500.000
869,450
2,000,000
2.270.000
3.994.000
1.590.000
•20,109
1.350.000
(1)
1,000,000
200.000
400.000
300.000
450.000
4,204,160
149,036
4.717.000
1.130.000
2.538.000
1.572.000
391.000
4.620,110
2.000.000
2.971.000
1,000,000
6 g. F. & A, N. Y. Agency, 23 Broad,
5
M. <fe N. Phila., Phil, «fe Read.RR
6
P. <& A.
do
do
3
P. <fe A. Philadelphia,Treasurer,
J. «fe J.
do
do
J. «fe J. Last paid Jan., 1885.
A. <fe O. Last paid Oct., 1884.
I 8’ Feb. 1
None paid.
None paid.
' 6*g. J. & J N. Y. Office, 10 Wall.
6 g. T. «fe J.
do
do
4
J. «fe J. N. H., Nat. N. H. Bank
4% M. <& 8.
do
do
6 g. J. «fe J.
New York.
6 g. J. «fe J.
N. Y., Agency.
J. «fe J.
Aug. 1, 193)1
May 1, 1912
Peb. 1,. 1924
Aug. 2., 1887
July, 1901
Jan. 1, 1902
April 1, 1921
Jan. 1 1922
? I:
Ï*
5 g- J. ’<&‘j .
6
A. <& O.
6
J. «fe J.
6
Yearly.
6
J. <fe J.
J.
<& J.
§ g.
g- M. <
&N.
6
6
A. <fc O'.
5
M. «fe N.
Jan. 1,1926
Jan. 1, 1926
July 8, 1887
March, 1910
July 1, 1914
July 1, 191*
July, 1891
Peb. 1, 1888
London.
1887 to 1888
N. Y.,68 William street, Oct. 1, 192«
do
Jan. 1, 1931
do
Jan. 1. 1931
Jan. 1, 191*
N. Y., 50 Exchange PI. Jan. 1, 1890
London, Baring Bros. May 1, 1908
N. Y., 50 Exchange PI.
1910
N. Y., 50 Exchange pi.
(!)
114
,964
1882
m
200&C.
3,299,200
100 88,560,130
S ch u y lk ill V a lle y .—Owns from Palo Alto to Reevesdale, Pa ,
11 miles; branches, 8; total, 19 miles. Leased to Phila. <fc Reading RR,
from Sept. 1, .1861, at 5 per cent on stock. Has no bonded debt.
Scioto V a lle y.—Owns from Columbus, O., to Petersburg, O.. 131
miles. Stock is $2,093,350. Coupons of 1st m. »nd cons. m. due July 1
84, and of 2dm . due April, 1884, were purchased in interest of Mr
HuntingtOD, and are held as liens.
In 1886 gross earnings were $683,234; deficit under operating
expenses, $9,321. In 1885,gross earnings were $546,286; net, $91
441; rents, taxes paid, «fee., $31,998; applicable to interest, $54,942
Receiver (Jas. Robinson) was appointed in June, 1885, on a iudgment
of C. P. Huntington for $639,305. Foreclosure is pending. (V. 45, p. 673.'
* R o a n o k e .—Owns from Portsmouth, Va., to Weldon
N. C.. 81 miles. Of the stock, $1,058,700 is common, $200,000 is 1st I
per cent guar., and $44,200 is 2d guar. The debentures above are to be
any,new
Net earnings 1885-86, $188,375: 1886-87
$273,550; surplus over dividends and interest, $101,653. J. M. Robin
son, Pres., Balt., Md.
Seattle L a k e Shore & E a stern .—New road in progress from
Seattle on Puget Sound to Walla Walla, 244 miles, of which 43 miles
Seattle to Bquak, is completed. Bonds are coup, or reg. V. 43, p. 184,191
S h a m o k ln Sunbury & L ew isb u rg .—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 lw
w a rd f^ tock . $ 1 % % ’ and opened in 1883 for its coal traffic^ north
Vo ^ * l* o tts v trie .—Line of road, Sunbury, Pa., to
Mt. Carmel, Pa., 27 miles; branch tc Lancaster Colliery, 2 miles iotal 29
J 1}? road was V??fed Februaiy 27,1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
o ^ tP e r annum on the stock. Gross earnings for 1885, $ 122,227;net
$63,318. Gross earnings for 1886 $381,612: net, $216.984- surnlns
to lessee, $14,279. Geo. P. Roberts, President, Phila.
’
P
Sheffield & B irm in g h a m Coal, Ir o n & R a ilr o a d Co —(See
Map.) Road about completed between Sheffield and Birmingham Ala
bama, 90miles. In Sept, 1887, Sheffield «fe Birmingham Raflro“ d was
consolidated with the Alabama <ft Tennessee Com <fe Iron <’o The
comPany o w118 tk er Ailroad, 70,000 acres of coal and iron lands in
Alabama and 60 acres of land in Sheffield. Five blast furnaces are in
a r sPrei? ? ' Iand
S ’’.$1.000,000
i o X sn & c;ofr restricted
c,ti ? v ,10common stock. See
$',■¿¿.0,000complete description of property, «fee., in V. 45, p. 441 E W Cole
President. Nashvi le. New York, office, 10 Wall Street (V. 45, p! 4 4 1 ,
*7,®llen? lldoal1 V a lle y .—From Hagerstown, Md., to Wavnesboro and
o o c P « a ®®nnecti°n with the Norfolk <fe Western road at Roanoke
238 miles and branches 17 miles. A close contract for working and an
exchange of stoek for Norfolk & Western stock, also a con tea cW th Penn
RR. for exchange of business was made in 1883. In March lSfiV
®yodn^ W TJ lerTwa,8 aPPototed receiver, and the April. l s S n t e r f r t
^ae f a u l t e d . In June, 1887, the plan of reorganization proposed was
I? YP ;'782, by which the differences between bondholderJwere settied, and the road was to be leased to the N orfolk& Western ^There
was some delay in carrying out the plan, and m Dec., 1887 the suit for
foreclosure is to be pushed on unle-s the plan is carried out’ tpa
is $3,696,200. of which $3,057,100 Is held by the Nort & West R ll co
From Jan. 1 to Sept. 30 in 1887 (9 mos.). gross earaings w ire «647
776, against $533,351 in 1886; net, $108,§89 In " m t a t $82
furpius of life ,517?* UDder extraordtaary repairs, $ 2 1 ,6 9 ? a g liS t a
i™ Wo
earnings were $740,655; net, $79.276. (V 44 d 23
150, 309, 495, 497. 6 8 0 , 782; V. 45. p. 143, 401, 438, 473, 614,’ 643 )
TjS k o r e L i u e < C o n » .) - L i n e of road, New Haven Conn to New
pSe°tui& 0Nov 51 1^70 a ^ l oodoonNeT York & New ¿ aTen
Co. in
j g £ f e n A V w L o A « ! ™ ? er annum- Chartered as New
present^ltieTuneI29aii 8 ^ : ’ D ir td e n d s ^ ^ n ^ a n ^ n ^ ^ te J ^ ^ d()pCTm
Sons and earnings are included in the reports o?the tease“
P. <fe A.
<»)
The annual report for 1886 was in the
Feb. 1, 192*
C h r o n ic l e ,
IN C O M E A C C O U N T.
1883.
Receipts—
$
Total gross earnings.. 1,326,969
Total net income........
446,765
■Disbursements—
Interest on debt........
449.894
Miscellaneous.............
2.472
V. 44, p. 807.
1884.
1885.
1,233,292
388,604
1,151,840
358,427
382,722
252
374,524
$
$
8,020
1886.
$
1,120,060
159,858
386,437
813
Total disbursem’ts..
452,366
382,974
382,544
387,250
Balance....................... def. 5,601 sur. 5,630 dei. 24,117 def. 227,392
—(V. 44, p. 80 7 .)
F lo r id a .—Owns from Sanford to Tampa, Fla., 115 mile«Bartow Branch, 17 miles; operates Sanford to Oviedo, 17 miles and
Pemberton Ferry Branch, 43 miles; total, 192 miles. The r o a d *
part of the Savannah Florida <& Western system.
oaa 18
* N o r t h A la b a m a .—(See Map o f Louisville <£ WosJl.
Ä - ) _ Owns from Decatur. Ala., to Montgomery, Ala., 182 m itet
with a branch of 6 miles from Elmore to Wetumpka T h l r n Ä
con troü edbvthe Louisville «fe Nashvüle RRCom pany, which S ,
majority of the stock and all of the second mortgage bonds $2 oonnnn
dae 1910, which are pledged with the Union S t Co. as s 5 5 Ä
Eoimviile & Nashvile bonds, dated June 1, 1880. 500?000 a o™
of land m Alabama, largely mineral, nave been transferred to the
JjO^lflVille & Nashvüle Co. Common stock, $1,469,082 • preferred «tnnif
$2,000,000. In 1884-85 gross earnings were $1,541,289? net $537^ « ^
interest andtaxes, $560,847; deficit $23.365; due Louisville & f S v ü f e
S«oe-ert $1,733,805. In 1885-86 gross earnings, $1,469.089- net
$430,o09; metrest, taxes, «fee., $768,324; def.; $337,814. (V. 43,p.’ 2184
South Pacific Coast (N a rrow -ga u ge).—Owns from
Jimctoon (Felton), Cal, 45 m.; Campbfll to New A taadln C a l T «
leased-Alameda Pomt to Newark. 25 m.; Felton to Santa Ä
«1®®;
Felton to Boulder Creek, Cal., 7 miles; other branches, 5 m • total 98
m. In March, 1887, it was reported that the road was sold
M V Ä il3 e; eSt' Gr° 88 earni lgS 1886>$870,157; net, i S o ^ S ?
pany offered $6 500.000 3 p. c. bonds of the Bedford Y f i r i d g e Ä HR*
guaranteed by the Penna. RR. Co. But the A ttorn ey-G en erlfofP A ^ !
S c a n ia brought a suit to enjoin the transfer, and this Ä
in S ?
1886, was (tecfded by the Supreme Court of Pennsylvania a ra iiS rth i
transfer to Pennsylvania Company. (V. 44. p. 23; V. 45, p. as, U 3 143 ?
. s 9 ’ ,t ll e r n C e a t w l (N . Y . ) —Owns from North Fair Haven’ N Y
to Pennsylvania State Line, 114 miles. Leases the i L m
ä
™ !
Western, Freeviüe to Auburn, 38 miles; State Une to Ä
2
Total operated, 154 miles. The Lehigh Valley leased ^ s road’frnn^i1^ ?'
1, 1887, tor 975 3 ears, without anv guaranty of interest and1« 8'?;
operated by the Pa. «fe N. Y. Canal Co\ The consol 5s are con™ J im1®
into stock at option of holders will n ten years, and $100 000 M e ^ m
in trust to retire $90,000 of 7 per cent prior bondsdue in 1899
coupons from Aug. 1, 1886, inclusive were funded i ^ o iio o m e h o n d f
Capital stock pam m is $1,774,850. In 1885-86 sn-nai ioV~Te Doad8'
A Ä s .
the^l^w^^o^bh?Stateof S
Ä
“
of flie stock of the Southern Pacific of California and the o t h e r
connecting with it to New Orleans, and lea™s e llh of thJse ? o Ä Ä
has alease of the Central Pacific for 99 years. The lart renert h l’d ^ f
following statement of the total stock of each of thfsaid ^ m n a n ^
owned by the Southern Pacific Co. Dec. 31, 1886, and the telfil Si™
uet profits of the whole system payable ündl?
the lease to the several lessor companies.
1 ,y
ö unuer
Total stock P .e. o f
Name
of
corporation.
stock
owned.
w it h t h ir t ^ ' ^ e je c t s w ith"noustiS East^^w^Texas road ^orm iJ^
0/ company, profits.
So. Pac. RR. Co. of California......... $43,997,900
26fe
S T L 'S S S S if M s r t 0* 230 mil68 ^ S v S aod« S rHTuns? So. Pac. RR. Co. of Arizona............ 19,995,000 $44,039,100
19,995.000
12
So. Pao. RR. Co. of New Mexico ..
6,688,800
6.888,800
4
Mor. L. «fe Texas RR. <fe SS. Co. . . .
4,062,700
5.000. 000 22%
Gal. Harris. <fe San An. Ry. C o ___
26,278,400
27,085.100
16%
Texas <&New Orleans Ry. Co........
5,000,000
5.000. 000
7%
Louisiana Western RR. Co.............
3,360,000
3,360,000
3%
Mexican International RR. Co. ...
4,172,100
4,922,100
New York Texas <fe Mexican...........
598,000
814,800
Total.. . . . . . . .
.. . . . . ......... $1 14,152,900
Galv. Har. <&San Ant.,West. Di v., 6s. 1,110,000 $117,104,900
Sou th C aro lin a.—Owps from Charleston to Augusta H P 137 m
branches to Columbia, 68 m., and to Camden, 38 m.-fxtensifen *4 m i w
total mam line and branches, 247 m. Default w a s m « ,? « H a v t « le8J
sold in foreclosure July 28, ’81, and the compIny w L reori^iilId'1
Total stock and bonds..................... $fl5,262,900
From Jan. 1 to Sept. 30, in 1887 (9 mos.), g ro s s pa m i n „ „
,
system (5,097 miles) were $$26,37«,729? a ^ in s V I ^ sfu i^o11®wbole
(4,890 miles); net, r t 0,623,005, agkinst $10^o i l 2 6 6 • t * } ? 9 m 1886
from leased lines, the total income was $ lL 3 0 i ,32X a t n s t l l o T j **
384; surplus over fixed charges, $509,610 a»ain<t a
defic t under construction and improvements $ 196% ^^ ?°il°? $8 |>135i
of $292,206 in 1886.
umrs, $196,310, against deficit
100
jf i A
a
Ï fîfti»3P j
feK m^ ssS^
^ iL
INVESTORS’
SUPPLEMENT.
MÉi
MAP OF THE
SOUTHERN PACIFIC
RAILROAD
AND CONNECTIONS.
b
i>
®i
N o v e m b e r , 1887.]
RAILKOAD STOCKS AND BONDS.
107
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered In these T ables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date
pal, When Due.
Amount
Por explanation of column headings, <fcc., se< uotes of
of
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds
Cent. Payable
Whom.
Dividend.
South. Pac. o f Arizona—lstm ort., gold,cp. or reg... 384
South. Pac.(Oal.)—1st mort.,gold,land gr., cp.orreg. 1,022
Monterey, 1st mortgage - .1....................... ............
15
Southern Pacific o f JV7Mexico—Mort., coup, or reg.
167
Southwestern ( Ga.j—Stock, guarant’d 7 per annum 321
Southwest Pennsylvania—Stock...........................
44
1st mortgage.........................................................
Spuyten D uyvil <&Port Morris—Stock........................
"é
State Line dk Sullivan—1st M., conv. (red’ble aft.’88)
24
Staten Island—1st mortgage.......................................
13
Staten Island Rapid Tran.—lstm ., $ or £ , cp.orreg. All.
2d mort. guar by B. & O. cp. or reg., gold..............
Incomes, gold (non-cum.)............... ........................
Sterling Mountain (N. Y.)—1st m., income, guar. ,c.
7%
Stockton di Oopperopolis—1st mort., (guar, by C. P.)
45
Suburban Rapid Transit—Stock ($5,600,000)........
1st mortgage bonds (for $6,600,000).....................
Summit Branch (Pa.)—Stock.................. ..................
20
1st mortgage bonds..................................................
20
Sunbury Hazleton '<£ Wilkesbarre—1st mortgage....
43
2d mortgage...............................................................
43
Sunbury di Lewistown—1st mortgage............. ........
43ia
Suspension Bridge db Erie Junction—Stock...............
23
1st mortgage.............. , ................................ ............
23
Syracuse Binghamton <£N. Y.—Stock.......................
81
Consol, mortgage (guar. D. L. & W.)...................
81
Syracuse Geneva Corning—1st m ortgage.......... .
57
2d mortgage...............................................................
Syracuse Ontario <6 Hew York—1st mort................... '4 3
2d inortg., income (for $500,000)................ ..........
'79-’80 $ 1,000 $ 10,000,000
75-’82 500 &c. 33,306,000
1880
1,000
250.000
1881
1,000
4.180.000
100
5,099,400
819,200
1877
1,000
962.000
989.000
1879 lOÓ.'&c.
200.000
1873
1,000
300.000
1883
1,000
1, 000,000
1886
1,000
2.500.000
1885
1,000
4 500,000
1881
1,000
475,674
1875 500 &c.
500.000
641,855
1886
1,000
(?)
50
4.125.000
1874
1,000
1.185.000
1878
1.189.000
1878
1.350.000
1876
500
500.000
500.000
1870
1,000
1 ,000,000
1875
100
2.500.000
1876
1.000
1.750.000
1875 lOO&c.
897.000
1879
1,000
600.000
1883
900,000
1883
(!)
The annual report for 1886 (Y. 45, p. 210), showed the net earnings of
the whole system (4,847 mi'es and steamship lines) for the year to have
been $13,283,227, plus rentals of $560,t91, and interest,, &c., received,
$465,301; total. $14,309,218; dividends and interest on bonds. $8,7.54,810; rentals paid, $1,867,165; taxes, $888,623; interest on notes, &c.,
$380,191; betterments and additions, $560,856; sinking fund, $1,196,771; payable to O. P. HR., $1,324,99s; miscellaneous, $27,941; total
deduction ($14,951,355, less $822,759 due from lessor properties under
lease, $14,128,596; 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, 2 1 0 , 273,369
509, 643.)
Sou th ern Pacific o f A r izo n a .—This is the connecting line of the
South. Pacific of Cal., extendingfrom Yuma to N. Mexico boundary, 384
miles. The stock is $19,995,000. The bonds consist of Series A $6,000,000, due 1909, and Series B. $4,000,000, due 1910. Operated under lease
to Southern Pacific Go., 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 in 1887 (8 months),gross earnings were
$1,087,318, against $1,020,673 in 188«; net, $473,861, against $170,761.
In 1885 the gross earnings were $1,564,702, and surplus over all
oharges $148,029. In 1886 gross earnings were $1,525 221; net, $647
592. (V. 44, p. 370.)
Southern Pacific (o f C aliforn ia). (See Map.)—L in e of R o a d .—
The road in California is in two divisions—the North. Div. from San Fran
to Tres Pinos, 100^ miles; Carnadero June, to San Miguel Junction, 126
miles; and leased line, Castroville June, to Monterey, 15 miles; Santa
Cruz RR., 26 miles; Hillsdale to Almaden, 8 m iles; total
in Northern Division, 276 m iles;—the Southern Division, Huron
via Goshen to Colorado Riv., 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
mam 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 lhe Atl. & Pao. Railroad.
i
—The Southern Pacific was a consolidation Oct. 12,
1870, of several lines in California. The Central Pacific RR. 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 261a per cent
of the annual net profits of the whole S. P. system. In October.
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 Ch ronicle . V. 40, d. 594.)
authorized stock is $90,000,000, of which
$45,994,800 has been issued and is held mostly by the So. Pacific Go.
^ 8erie® A>B, C, D, E and F, of which A included
$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
an<* lands, except the Colorado Division, which is bonded at $ 10,000 per mile. The series A, B, C and D mature in 1905-6, the series 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 yearT
Land Grant.—The land grant was 12,840 acres per mile, and proceeds
?f
ret*£e bonds. The total grant is estimated to furnish
10,445,227 acre§, 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, $2,253,822.
From Jan. 1 to Aug. 31,1887 (8 months), gross earnings of Northern
Dmsipnwero$L,127,580, against $980,449 in 1886; net, $519,823, ag’st
V fa°’ u r ' From Jan. 1 to Aug. 31, 1887 (8 months), gross earnings
S£®?uthern Division were $2,671,124, against $2,079,502 in 1886; net,
$920,9o6, against $614,380.
1886 gross earnings of both divisions were $4,943,955; net,
_ utberii Pacific o f N ew M e x ic o ,—Road extends from Ari*ona State Lme to the Rio Grande at El Paso, Texas, 167 miles. Oper
ated under lease to Southern Pacific Company, the lessee paying all
charges and 4 per cent of net profits (if any) of the whole So. Pacific
system. Stock, $6,888,800. From Jan. 1 to Aug. 31, 1887 (8 months),
gross earnings were $484,776, against $45 L,939 in 1886: net, $217,929, against $222,434 in 1886. Gross earnings in 1885 $683,249; surS s T o T s Y -1 v g44 p^ T O )33' Gr0SS earnlng8 m 1886> $667,196; net,
.
(G a.)—From Macon, Ga., to Eufaula, 144 miles;
5*8 177 nxues of branches, the main one being from Fort Valley to Col
umbus, 71 mues. 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 June, 1881, $32 per share in 6 per cent debt certificates was
declared by Central Georgia Railroad.
Sou th w est P e n n sy lv a n ia .—Greensburg, Pa., to Fairchance, Pa.,
^4: mite8 Opened April 1,1873, and leased to Pennsylvania Railroad
which operates it at cost, paying net earnings as rental. In 1885
gross earnimowere $562,920 and net earnings, $249,438. In 1886
gross, $756,139; net, $399,330.
’
Ö g• J. & J
A. & O
A. & O
J. & J.
u - J. &D.
5
M. & S.
7
F. & A.
4
J. & J.
7
J. & J.
7
A. & O.
6 g- A. & O.
5 g. J. & J.
6 g7
Feb. "l.
5
J. & J.
!* •
6
3
7
5
6
7
7
7
2
7
7
5
6
6
New York City.
N. Y., Mills Buiiding.
do
do
N. Y., Company’s Office
Savannah,Cent.RR. Bk.
Phila. and Greensburg.
Philadelphia Office.
New York.
N Y., Union Trust Co.
S. Y., S. I. Rap. T. Co.
N. Y., Lond. & Glasgow.
New York,
do
N.Y., Company’s Office.
N. Y., Central Pacific.
Mar., 1909-10
1905-6 & 1912
April 1,1900
Jan. 1, 1911
Dec., 1887
Sept., 1887
Feb., 1917
July, 1887
Jan. 1, 1899
April 1,1893
Jan. 1, 1913
Jan. 1, 1926
Jan. 1, 1946
July 7, 1895
January. 1905
M .'&N.
F. & A. Phila., 233. So. 4th St.
J. & J.
do
do
M. & N. Philadelphia, Penn. RR.
M. & N.
do
do
J. <& J. Phila., Guar. T. & D. Co
J. & "j.
Q.—Mar
A. & O.
M. & N.
M. & 8.
J. & D.
1936
Feb. 16,1879
Jan. 1, 1904
May 1, 1928
May 1, 1938
July 1, 1890
Yearly.
N. Y. Lake Erie & West. July 1, 1900
N.Y., D. L. & W. RR. Co. Sept. 1, 1887
do
do
Oct. 1, 1900
N.Y., Farmers’ L.& T.Co. Nov. 15,1905
Mar. 1, 1909
1933
1983
Spuyten D u y v e l dc P o rt M o r ris.—Road is 6 miles in length and
connects the New York Central & Hudson with the New York & Harlem;
Leased to New York Central November 1,1871. Rental is 8 per cent on
capital stock of $989,000. Operations are included in lessee’s returns. •
State L in e & S u lliva n .—Owns from Monroeton, Pa., to Berenice.
Pa., 2o miles. Originally organized as Sullivan fe 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 lands. In May, 1884, this road was
leased to the Penn. <&N. Y. Canal & RR. Co. for fifty years, at $36,000
per annum for three years and $40,000 afterwards.
J ‘ ateon Isla n d .—Local road on Staten Island, Clifton to Tottenvuie’ 13 miles. Road is operated in connection with Staten Island
Ferry Cornpany. Capital stock, $210,000, par $15 per share. Leased
™ «taten Island Rapid Transit Co. for 99 vea s from July 31, 1884. at
$80,600 per annum. Dividends in 1885-86, 26*66 percent.
Isla n d R a p id T ra n sit R.R.—This Co. was incorporated
? h ^ e? er^
m New York State. The line of road is around
the Staten Island shore, east and uorth sides, from Vanderbilt Landing
nunction with the 8.1. Railway) to a point opposite Elizabethport, N.
f ' R bas a 99 years lease of the S. I. Railway and controls the Ferries
to N. Y. City. Iu November, 1885, the agreement with Balt. &-Ohio
was reported for making the terminals of that RR. Co. at St. George
by means of a bridge over the Kills at Elizabethport. The B. & ft!
guarantees the 2d mort. bonds of this Co., and owns a maioritv of ttn
stock of $500,000. The income bon is are held by the B & O a^d S L
R. T. cos., one-half each. In .year endtug September 30, 1887, gross
$111,979. <v; 43, p. 12 ; ¡ j g # , '
M o u n t a in (N . IT.)—Road runs from Sterlington on the
^ rR a u ^ Warit0 Bakeville, 7 6 miles. Bonds guaranteed by Sterling Iron
& Railway Co. Stock, $80,000. Earnings in 1885-85 ‘Kim in
and $6,924 net; in 1884-85, $26,216 gross a n t$9?876n k .
^
made
comPany is a consolidation*
maae iNov. 17,1877, ot the Htookton & Oopperopolis and the
Stockton to Milton and Peters to Oakdale,Cal. 49
miles. Leased to Central Pacific Railroad Company for thirtv vears
from December 30.1874. By the terms of the lease & e l e s s e S r S S
interest of the bonds. Capital stock, $234,50^ ifie
A?i1r?ai7 Previously made default July, 1874, and the $1,000 000 of
aid bonds were exchanged for the present issue guaranteed In 1885
008?net,r $3of58'!76’817: n<3t’ $J3’° 63- In l 886 grosrearn ings?$lf2,„
? rb n n I t a p id T r a n s it .—This company has built a bridge
across the Har e.u River, M. Y. City, and is in operation to 161st S tre e t
Jniies. The line as laid out is 14'90 miles long. Little informabeen obtainable concerning its finances. In July. 1886
^attan Elevated stockholders were offered the privilege o f
taking its stock and bonds, as follows: Each 100 shares of Manhattan
entitled to take 7shares S. R T. Co., and 7-10 of a $1 000 bond.
Samuel R. Filley, President, 40 Wall Street.
?
Dontt*
rr
c o mpany leases the Lykens Valley
RR., and it has a small branch of its own to Summit Mines. % of a m il^
The road is operated by the Northern Central under contract Traffic 1a
almost exclusively coal. Gross receipts in 1886, inolud coal *732 roa?
net $13,689. Gross in 1885, $1,402,405; net,$174 646 - t o t e f L t ’l l ^
195; net profit in 1885, $116,529. (V. 44, p. 185.)
’ mterest>$83**
H a z le t o n & W il k e s b a r r e .—Sunbury to Tomhicken.
woiii.3 iP£e8, Foreol<>8ed March, 1878. Stock, $1,000,000. T h e P e ^
large interest in it. Gross earnings in 1885, $493,197;
net, $26/,255. Gross in 1886, $425,361; net $195 538 t nt tv™
Barry, President. Philadelphia. (vT 43, p. 275.) *
’ 8' J‘
1)11
n L * r ^ ^ » ‘ ow n .-S eU n sgrove Junction to Lewistown.
Pa., 43 miles. Leased to Pennsylvania RR. for contingent in te r e s ts
oet earnings, which m 1884 were $105,855; in 1885 $168 268• in is o «
$123,536. Stock, $600,000 and div’s of 6 p ercfi a y e l r h a v e b e ^ g 8
B r id g e * E r ie J u n c t i o n . —East Buffalo Junction
to Niagara tails and Suspension Bridge, 23 miles; Lock & B u f f M
leased, 14 miles; total operated, 37 miles. Road opened j^nuarv i 87?*
It is leased to New York Lake Erie & Western Railroad Co at 30^ner cent
of gross receipts, which are guaranteed to be not less than $105^)00°™ »
annum. Lessees own all stock except 297 shares.
* « » , 0 0 9 per
S y r a c u s e B i n g h a m t o n & N e w Y o r k . - Owns from Gedd««_
N. Y., to Binghampton, N. Y., 81 miles. Chartered as Syracuse * Pin2l
Somf a ^ an<i , 1opeil|<l
23’ 1854; foreclosed and reorganfzcd A ^ S
rfO, 1857, and leased to Delaware Lackawanna & Western* In 1 8 8 5 « «
gross earnings, $742,024 ; net, $307,418; interest $141 ann •
^
^ P e r c e n t ) , $162,500. In 1884-85, gross, $692,M ^ k f$ 2 7 5 ^ 2 9 ® fn ^
$141,400; div. (4 p. c.), $100,0 00; surplus, $33,929.A v ' 45, p f 212.
S y r a c u s e G e n e v a & C o r n in g .—Owns from Corning' lv v
Geneva,, N. Y.. 58 miles, and Penn YantoDresden, 6m Sfs-Total
miles. This road was opened December 10 1877 and ia
.
the Fan Brook Coal Co. at a rental of 331, pct cent
in g,. Stock is $l,325,00l>. 1« 1 8 8 M 5
108
INVESTORS’
SUPPLEMENT.
[VOL. XLV.
N o v e m b e r , 1887. J
RAILROAD STOCKS AND BONDS.
109
Subscriber» w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
Bonos—Princi
INTEREST OR DIVIDENDS.
Miles Date
pal,When Due
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Ferre Haute dkIndianapolis—Stock ($1,988,150)...
114
Bonds ot 1873 coupon & reg..................................
1873
Consol, mortgage.....................................................
Ferre Haute <&Logansport.—Stock........ .................... Ï82
1st mortgage, guar, by Terre Haute & Ind’napolis
93 1879
1st mortgage, extension (2d on 93 miles)__
65 1883
Terre Haute <e Peoria—1st mortgage, gold . . . .
173 1887
Texas Central—1st mortgage, g o ld ..................
177 1879
N. E. Div., mort., gold (2d on 177 miles)___
52 1881
General mortgage, (pledged).................. ................
228 1884
Texas dt N. Orleans o f ’74—1st mortg. land gr., coup 105 1875
Sabine Division, 1st mortgage, gold.......................
104 1882
Debentures.................................................................
1883
Texas <6Pacific—Stock.........................
1,487
1st mortgage, gold, coup. (E. D iv .)___
524 1875
2d mort., consol., gold, coup. (E. Div.).................... 524 1875
Income and land mort., E. Div.. reg.......................
524 1875
Scrip for int.on ino.mort. (red’mable" in st’k or land)
’79-’85
1st mort., gold, Rio Grande Division.................... 52Ï 1880
New Orleans Pacific, 1st mortgage....................... .
336 1880
General and terminal mortgage ($6,500,000)....... 1.487 1884
Tioga RR.—1st mortgage, due 1882 and extended.
54 1852
Consolidated mortgage............... ............................
54 1876
Extension bonds.........................................................
20 1875
Elmira State Line Railroad mortgage....................
7 1875
Toledo Ann Arbor <£ H. Mich.—1st (T. A. A. & G. T.)
61 1881
1st mort., gold ($2,120,000) .................................... 106 1884
Toledo Canada Southern <&Detroit—%to o k ..............
55
Toledo d Ohio Central—1st mort. gold, interest guar 196 1885
Tol. Peoria <t West.—1st M., new (for $5,000,000).c* 230 1887
$50
1,000
___
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
....
1,000
1,000
1,000
___
___
••••
1,000
1,000
....
1,000
1,000
net, $163,611; rental, $223,897; taxes, $10,559; deficit to lessee
$70,844. In 1885-6, gross, $638,921; net, $167,434; rental, $212,974
loss to lessee, $45,540.
Syracuse O n ta rio & N e w Y o r k .— Owns from Syracuse, N. Y
to Karlville, N. Y., 45 miles. The road was twice sold in foreclosure
aDd reorganized under present name in 1883. The West Shore acquired
control of the property. Stock, $404,600. Earnings in 1885-86, gross
$88.505; deficiency under interest and taxes, $47,811. Ashbel Green
President, N. Y.
T err© H a u t e & I n d i a n a p o l i s .—Owns from Indianapolis to Dli
nois State Line, 79 m., with coal branches, 34 m.; total, 113 m. The road
was opened in 1852 (as Terre Haute & Richmond). The company leases
and operates the Terre Haute & Logansport RR., also the St. Louis
Vandalia & Terre Haute Road on joint account with the Pittsb. Cm. & St.
Louis RR., at 30 per cent of gross earnings, but guarantees the first and
second mort. bonds. In June, 1887, a controlling interest in the stock
was sold to H. 8. Ives and others in the Cincinnati Hamilton & Da' ton
interest. In 1885-6 gross earnings $1.053,090; net earnings and other
receipts, $366,672; interest and 6 per cent dividends, $246,289; loss
on T. H. & L. lease was $89,482. In 1884-85 gross earnings, $1,060,631inoome, $358,470; interest and 6 percent dividends, $231,289: loss on
T. H. & Logansport lease, $76,634; betterments to T. H. & L. road,
$45,202; surplus for year, $5,343. (V. 41, p. 714, 751; V. 45, p. 85 )
T e r r e H a u te & L o g a n s p o rt.— Owns from South Bend, Indto Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles.
Total operated, 182 miles. Formerly Logansp. Crawfordsv. & Southw.,
which was sold in foreclosure Sept. 10, 1879. and reorganized under
present name. Leased by Terre Haute & Indianapolis Railroad for 28
per cent of gross earnings, and first mortgage bonds guaranteed uv
that company. Rental in 1885-86, $119,759; loss to lessee, $89,48?,
Rental in 1884-85, $108,562; loss to lessee, $121,836.
T e r r e H a u te & JPeorla.— Road operated from Terre Haute, via
Decatur, to Peoria, 173 miles. This is the new company formed in Jan.,
*-887, as successor of the Illinois Midland, sold in foreclosure Sept. 30,
1886. That road embraced by consolidation the Peoria Atlanta & Dec
atur, Pans & Decatur and Paris & Terre Haute. The stock is $2,160.000 pref. and $3,240,000 com. The bonds were issued to pay off receiv
er's certificates and to furnish money for steel rails, equipments, Ac.
In New York, Mr. Simon Borg and associates were largely interested
in the property. (V. 43, p. 217, 431, 738; V. 44, p. 184, 495.)
*
roa<l from Ross, in McLennan Co., to
Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229
miles. Is controlled in Houston & Texas Central interests, by which
iompany it is operated; but accounts are kept separate. The authorized
stock is $1,000,000; total issued, $130,200, of which H & T C holds
$50 0(H); Morgan Co., $75 000; directors, $ 5 , 3 0 0 D e fa tte d to interest
peal88* V ^ 4 r° a49T ) S t0 1)6 8old June 29’ 1887>but delayed by an ap* R & J ie ? £ / >r]fta n 8 ( ®f 1 8 7 4 ) .-H ouston, Tex., to Orange
! “ die® > and Sabine City to Rockland, 104 m iles;
to
Huntington Southern Pacific system,
Leeisiana Western. This was a reorganization, 1874,
I“ ® old Texas & New Orleans RR. The stock is $5,000,000, and
a controlling interest is owned by the Southern Pacific. In addition to
are $467,336 Texas School bonds. From Jan. 1 to
a?iMn3i0a i« .l ^ 7 (l ^ l § rom earnings were $917,921, against $714,312 in 1886; net, $425,526, against $303,307.
For year 1886 annual report was in V. 44, p. 620; gross earnings in
S?62’ 273- l n 1886 gi-oss earntogs gwere
f99 8 ,169, net, $482,136; surplus over charges, $114,989. C. P. Hunt
ington, Pres’t, New York. (V. 43, p. 133,163; V. 44, p. 344, 370, 620.)
T e x a s dc P a c i f i c .—/Sec Map Missouri Pacific.)—Eastern Division From Texarkana to Marshall and thence to Fort Worth, 253 miles;
To mU^.a / X i 0tl0n. t0 Wldtesboro, 239 miles; MarshaU to Shreveport
division, 532 miles. Rio Grande D ivis-on i
r
«
f
n Blanco, 524 miles; Sierra Blanco to El Paso(joint
ftrnndA9d2i ^ i i ^ 8’« i i 0rd0I1xTBraRcl1 to ooal “ dries, 3 miles; total Rio
ShTO™rwl19rnmv
g le a n s Divi?ion-(Formerly N. O. PaciTotal of aU l T l ^ mUes
° ‘ aM Baton Rouge Branch’ 336 mUesThe Texas & Pacific was built under act oi Constpsr of Mni-nh 3 i svi
“ «»“ lfS S S iS S ? m ,S p lit s
L t^ M+1mph^
S Paso
& Pacific
Railroad and r
other
companies. rIght^
A consolidation
with
New^
Orleans
1uit*a
for share, was voted in May, 1881. From the8 State of Texas
ofm| aY w e^n Ved 1(i,’2/ 0 acres of land per mile, and by bidldin|
« 2? f
®a^ ed ti931’ 702 ai res- °a which the income b o n d
are a lien, as also a. 3d mortgage on the road east of Fort Worth. The
iPaal $qa u? 80ld at the time of last report, Dec. 31, 1884, were
«PTit^’n thetmA of +hae™a!iroad lands in Texas, however, do not lie adjafn
f L um “ wnia» them, but these are located in part
in c ounties along the Rio Grande division, 1,030,611 acres being in
Tom Green County and 1,303,380 acres in El pLso County?
g
The terminal bonds are a first mortgage on terminal property in New
Orleans and at Gouldsborough; and on the Gordon coal mines.
, 9
Sheldon and John C. Brown wore appointed reoeivers. The plan of reorganization formed by the junction of the two
Provides that the old first mortgage due 1905 shall
stand, and all others shall be foreclosed. A new 5 per cent first
$1,401,880
1,600,000
(?)
500,000
500,000
1,000,000
1,800.000
2,145,000
1,254,000
2,283,000
1,620,000
2,075,000
584,000
34,173,600
3,784,000
9,316,000
7,992,000
2,240,000
13,028,000
6,720,000
2,8.-9,000
239,500
125,000
265,000
160,000
1,260,000
1,600,000
1.547,662
3,000,000
4,500,000
3
7
5
F. & A. N. Y., Farmers’ L.&Tr.Co Aug. 10, 1887
A. & O.
do
do
1893
6
6
5 g.
7 g.
7 g.
6
7
6 g.
6
J. &
J. &
M. &
.&
v). &
M. &
F. &
M. &
J. &
6
6
7
6
6
6
6
5
7
7
7
6
6
ggg*
g-
g.
g.
5 g.
4 g.
J. N.Y.,Farmers’L &Tr.Co. Jau. 1, 1910
J.
do
do
Jan. 1, 1913
S. N. V., Union Trust Co. Mar. 1, 1937
N. Last paid Nov., ’84.
Nov. 1, 1909
N. Last paid Nov., ’84.
May 1, 1911
N. Last paid Nov., ’84.
Nov. 1, 1934
A. N. Y., Company’s Office, Aug. 1, 1905
S.
do
do
March 1,1912
J.
do
do
1893
M. & S. Last paid Sept., 1885. Maroh 1, 1905
J. & D. Last paid Dec., 885. June 1, 1905
July. New York& Phiiad’phia Jan. 1, 1915
F. & A. Last paid Aug., 1835 Feb. 1, 1930
J. & J. Last paid July, 1885 July 1, 1920
A. & O. Last paid Oct., 1885
Oct. 1, 1905
M. & N. PhiL.Newbold Sons &Co Nov. 1, 1915
M. & N. N.Y., N. Y. L. E. & W. Nov. 1, 189«
A. & O. Elmira, Chemung Co. Oct. 1, 1905
A. & O.
do
do
Oct. 1, 1895
J. & J. N.Y.,Farmers’ L.&Tr.Co Jan. 1, 1921
M. & N. N. Y., Cent. Tru-t Co.
May l, 1924
J. & J. N. Y., Central Trust Co. July 1, 1935
J. & J.
New York Agency.
July 1, 1917
mortgage, “ A (subject to the old morts. 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, non-eumulaUve.
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 Incomi bonds took 60
per ce it In the new “ B” bonds in addition to the lands, but in Sept.,
1887, notice of a change was given, viz.: The interest on new first
mortgage bonds shall begin June 1,1888, and the flrrt coupon be pay
able Dec. 1,1888. As compensation, the h. lders of each consolidated
six per cent mortgage bond on the Eastern Divisi >n receive 115 3 5 per
cent in the new first mortgage bonds, instead of 112 per cen t. Holders
of each New Orleans Pacific bond receive 61-80 per cent in new first
mortgage bonds, instr ad of 6 *per cent. The holders of the Rio Grande
Division bonds receive 41-20 per cent in new first mortgage bonds, in
s’ ead of 40 per cent, as in said agreement provided. The holders of
Terminal bonds receive 25-75 per cent in new first mortgage
bonds, instead of 25 per cent.
The new stock will be $50,000,000 auth rized. and will be issued
share for share to old stockholders who nay the $10 per share cash
assessment. A land company was formed, and its stock issued to
holders of the land scrip and the income land mortgage bonds as follows: Scrip holders 125 per cent for their scrip and interest to July l,
1885- Bondholders received par for their bonds without any interest
The several divisions were sold in foreclosure Nov. 8 and 10, 1987,
and purchased by the committee for a total of $15,00 >.0 0. See V. 45
p. 643.
In 1885 the gross earnings were $5,826,401, and the net, $1,095,619.
In 18
gross earnings were $6,042,305: ner, $526,191 (V. 43 p 12
41. 73, 10B, 125, 133,16?. 191, 218. 27&, 3 9, 369, 399, 400V432
5 1 «-6 7 2 ; V. 44, p. 119, 150, 276, 309, 495,782; Y. 45, p. 2 4 0 ,3 0 3 !
*01 >o i l ) 643.)
Tioga.—State line junction, N. Y., to Hoytville, Pa., 61 miles, and
Blossburg, Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
State Line Railroad, State line New York to Northern Central Rail
way Junction. 7 miles; and Arnot & Pine Creek RR.. Arnot to HoytTqqk’
Controlled by N. Y. L. E. & W Gross earnings in
$3b3,454; net, $169,281; surplus over interest, rentals, &o.,
$96,961. The stock is $391,200 com. and $189,700 pref.
Toled o A n n A rb or & N orth M ic h ig a n .—(See Map)—Owrg
from Toledo, O., to Mt. Pleasant, Mich., 171 miles, which carries the
road into the heart of the lumber region of Michigan; and branches
to South Lyon and Macon Stone Quarry, 10 miles; total, 182 miles.
Capital stock is $4,040,000. The old first mortgage on 61 miles covers
the Southern Division, formerly called the ToL Ann Arbor & Grand
Trunk Railroad. The annual report for 188 5 was in V. 44, p. 584. Gross
earnings were $380,251 and net $158,156; interest charge, $145,600.
James M. Ashley, President, 150 Broadway, N. Y. (V. 43, p. 608, 635:
V. 44, p. 401, 527, 58 4 .)
T oled o Canada Southern & D etro it.—Toledo, Ohio, to Detroit
(<f ' i 'vJur^5tion)’
55 miles. Road opened September 1,1873. Oper
ated by Canada Southern. The bonds were exchanged into Canada
Southern first mortgage bonds at 70 per cent of face value.
Toled o & Ohio C entral.—Owns from Toledo, O., to Corning, 184
miles, including 12 ra. leased; Hadley Junction to Columbus, 29 m., in
cluding 5 m. leased; Corning to Jacksonville, 12 m. leased; total
operated, 225 m. This company was formed after sale in fore
closure of the Ohio Cent main line on April 15, ’85. The preferred
stock is $3,108,000 and common $1,592,000; the first mortgage
is for $5,000,000, but no more than $3,000,000 can be issued
except by consent of three-fourths of the present bondholders. Car
trust warrants were outstanding June 30, ’»7, to the amount of $744,988. The bonds have their interest guaranteed by the Col. & Hocking
Valiev RR. Co., aud by an agreement with that company the stock of
, ?• T* ^ s offered in exchange for three-fourths of the new stock
of lo l. & O. C., in the proportion o f one share of 0. & H. V. for one of T
& O. C. preferred, and one share of C. & H. V. for two shares of T. & O.’,
C. common; the remaining one fourth of T. & O. C. stock, together with
all that acquired by C. & H. V. by the exchange, were deposited with
trustees. Afterward the trustees, on the request of three-fourths of the
C. H. V. & T. stocknolders, divided the T. & O. C. stocks as a dividend
on Nov. 17,1885. (See agreement in V. 40, p. 597.) From July 1 to
1887 <3 m ,8 ). gross earnings were $282,889, against $218,596
in 1886: net, $91,70t<, against $58,013. The gross earnings for fiscal
year ending June 30, i887, were $961,406; net over expenses and
taxes, $288,803; surplus over interest and all charges, $98.532 (V
43, p. 24, 548; Y. 44. p. 91, 2 1 0 ,3 4 1 , 466, 682; V. 45, p. 240, 341, 572.)
T oled o P eoria & W e ste rn .—Road owned from Indiana State
line to Warsaw, 111., 220 miles; branch, La Harpe to Iowa, 111., 10 miles*
tracks leased to Peoria and to Burlington, la,, 17 miles; total operated!
247 mfies. This was formerly tbe Tol. Peoria & Warsaw, then the Tol.
F. <&Western, and as such was leased to and virtually merged in the
Wabash St. Louis & Pacific. After the Wabash default in July, 1884
foreclosure proceedings were begun, and a sale was reached Oct. 29.
¿ 88? l The reorganization plan gave to etch of the old first mortgage
bondholders one new $1,000 bond and 10 shares new stock; all other
stocks and bonds extinguished; stock. $4,076,000. Abstract of mort
gage (Charles Moran. Thomas Denny and Cornelius B. Gold, trustees)
V. 45. p. 242. The accident at Chatsworth, 111., i a August 1887
oy which 79 lives were lost, has caused many suits for damages against
this company. (V. 44,p. 309; V. 44,p 455; Y. 4 5 . p. 232, 242?573.)
lio
INYESTOKS’
SUPPLEMENT.
[Y ol. x l y ,
N
o v e m b e r
, 188?. |
RAILROAD STOCKS AND
BONDS.
Ill
Snbscriber» w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per
For explanation of column headings, &c., see notes of
Par
of
When Where Payable, and by
on first page of tables.
Road Bonds Value. Outstanding
Cent. Payable
Whom.
Toledo 8t. L. A Kansas Oity—S to ck .........................
451
$100 $12,250,000
451
Pref. 4 per ot. coupon stock, non-cumulative___
J00
4.805.000
4
J. & J, First coup.due July, ’88.
451 1886
1st mortgage, gold (redeemable at 105)............ c
1,000
9.000.
000
J. & D. N. Y., Bk. of N. Amer.
60 1881
Tonawanda Valley A Cuba—1st mort. ($500,000).
i,0<0
500.000
I g* M. & S.
New York Office.
35 1874
Troy A Boston—1st mortgage, consolidated............
1.000
1.421.000
7
J. & J. N. Y., Nat. B’k of Com.
53 1878
2d consol, mortgage (for $1,000,000) ..................
925.000
1,000
7
A. & O.
do
do
64
Tyrone A Clearfield—Stock........................................
1.000.
000 2ia J. & D. Phila., 233 South 4th.
1st mortgage......... ............................. .................... r
1882
1.000, oOO
1,0*00
5
J. & J.
Philadelphia.
*74 1875
17Isler A Delaware—1st mortgage............................
200.000
1,000
7
J. <& J. Rondout, Co.’s Office.
2d mortgage income bonds....................................
1875 100 «fee.
1.400.000
7
P. & A.
New York.
United N. J. RR. A Canal Companies—Stock........
443
100 21,342,400
2ia
Q.—J. Phila. and N. Y. Offices.
Gold bonds.......................... ..................................
1883
1,000
1.312.000
4
P. & A. Philadelphia Office,
General mortg.,gola and currency, coup...........
238 1873
1,000
5.669.000
M.& S.
do
do
United Co.’s mortgage, sinking fund, registered
1871
2.000.
000 I ' A. & O. Phila., Pennsylv’a RR.
do
sterling loan mortgage, sinking fund
1871
1.846.000
M. & S.
London,
do
do
do
do
do
1871
1.800.000
l l : M. & 8.
do
do
dollar loan, m ortgage.....................
1871
154.000
6
P. & A. Phila., Penn. RR. Office,
do
gold loan, reg...................................
1878
841.000
6 g. M. & S.
do
Joint Co.’s plain bonds..................................... ............
1854
866.000
6
J. & D.
Princeton, N. J.
do
consol, mort. (sink’g fund after 1880)
1862
5,000,000
6
M. & N. Philadelphia Office.
N. J. RR. & T. Co., 3d loan due State of N. J ........
1868
100,000
6
A.. & O. N. Y., B’k of Commerce.
Union Pacific—Stock.................................................... ,594
100 60,868,500
1%
Q .-J . New York and Boston.
1st mortgage, gold, on road and equipment.......... ,038 1806-9 1,000 27.229.000
6 g. J. & J.
do
do
2d mortgage currency (Government subsidy)___ ,038 18669
1,000
27,236,512
6
J. & J. U.S. Treas., at maturity.
3d
do
on road (2d on land), sink, fund.c&r ,038 1874
14.341.000
8
M.& S. New York and Boston.
Land grant b o n d s................................................ .
1867-9 1*000
1.270.000
7
A. & O.
do
do
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
1871
£200
1.519.000
8 g. A. & O. London & New York.
_do
do
renew al..........................................
1871
291.000
A. & O.
Collateral Trust bonds........................................ .
1879
1,000
4.423.000
i * J. & J. N. Y., Union Trust Co.
Collateral trust oonds of 1883, g o ld .....................
1883
1,000
4.567.000
5
J. & D. Boston, N. Engl’dTr.Co.
Kane. Pac., cons. M..,g.(for $30,000,000) ,cp.orrg.
1879
1,000 13,855,0) K)
6
g. M. & N. N. Y., 40 Wall Street,
do
1st M., g, cp., on 140m. west Mo. Riv. 140 1865
1.000
2,24(^000
6 g. F. & A.
do
do
Bonds—Prnioi
pal,When Due*
Stocks—Last
Dividend.
June 1, 1916
Sept. 1, 1932
1924
1903
June, 1887
Jan. 1, 1912
July 1, 1905
July 1, 1905
Oct. 10, 1887
Feb. 1, 1923
Mch. 1, 1901
Oct. 1, 1894
Mch. 1, 1894
Mch. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
¿an. 1, 1889
Nov. 1, 1889
Overdue.
April 1, 1881
1896 to 1899
1896 to 1899
Sept. 1, 1893
1888-’ 89
April, 1896
1896
July 1, 19(8
Dec. 1, 1907
May 1, 1919
Aug. 1, 1895
T o led o St. L o u is & K a n sa s C ity.—(See Map.)—From Toledo to
A11 . j
rsranen union Pacific and leased lines (388 miles) are
St. Louis, 451 miles. On Juné 26,1887, thé road was made standard
by the Missouri Pacific under an agreement with Union Pacific
gauge on the Toledo Division, 206 miles, and the balance to E. St Louis operated
fertwenty-five
years from 1885, and not included in the mileage nbS.0
was to bo made standard in thé fall of 1887. This company was formed
by Union Pacific. The U. P. also has largntoterests iS^ theg8t°?S«
Juno 12, 1886, by consolidation, and it took all the main line of the ated
& West. RR., 251 miles; the Utah Central. 230 m^ I^avenworth Toneka
.Toledo Çj.n. & St, Louis narrow gauge road, foreclosed Dec. 3 0 ,1S85. &
Manhattan Alma & Burlingame, 56 m and Nevada^Gen.
The present common stock and the first mortgage bonds were issuer tral, 9 3 m^ .; m.;
total, 738 miles, all of which are operated separately.
fo r l the purchase of the property, payment of receiver’s liabilities,
In 1886 a lease of the Oregon Railway A Navigation Comnanv fcn th#
broadening the gauge, &c., &c., and $4,000 per mile of said mortgage Oregon Short Line, guaranteed by Union: PacifiriasnegoU ated7
bonds were reserved for obtaining standard gauge equipment. The
r ^ GuMKZATI0N’ ^m~;Thls TcomPany, the Union Pacific Railway, was
preferred stock is a coupon stock, non-cumulative, and without voting formed
by a consolidation, Jan. 24,1880, of the Union Pacific RR and
power ; the bonds may be paid off at 105 on notice to the holders. Pro the
Kansas Pac. and Denver Pac., made under authority of the aots of
vision has been made for the payment of interest till 1889 incase Congress
July 1,1862 and July 2,1864. The Union Pac RR was
earnings are insufficient. All the securities are yet held in trust except chartered of
of Congress of July 1,1862, which gave the oom paX a
$2,000,000 of the bonds, $4,805,000 j>ref. stock and $2,500.000 com land grantbyofAct
12,800 acres per mile, estimated at a total of 12,0^3 $27
mon steck. See full statement as to this company in V. 43, p .7 4 ; V. 44,
a
S
U
£
S
1
<
^ 1x1 U’ s -bonds of $27,236.512 on 1,033 miles of road!
p. 75-L Abstract of mortgage (American Loan & Trust Co. of N. Y.
4.?aci^i( was organized as “ Leavenworth Pawnee A West
and and Joseph E. McDonald, trastees), in V. 45, p. 403.
«rli
qcq
t° “ Union Pacific, Eastern Division,” June
i The status of the Tol. Oin. & St. L mis from time to time was given in 6,1863, and to Kansas Pacific”
on March 3, 1869. The Pacific Railthe S upplement up to June, 1886. The only stock or bond holders of road
acts
of
1862
and
1864
applied to this road, and gave it a subshiv
the Tol. (Jin. & St. Louis who received anything for their holdings were of $6,303,000 and a land grant
of about 6,0007000 aerfs
subsidy
the first mortgage men, who took 150 in new pref. stock for Tol. Delohos
•
Cheyenne, 106 miles—was built under
& B firsts and 100 in new pref. stock for St. Louis Division firsts. (V. the charter of Pacific
the Union Pacific, E. D. (Kansas Pacific).
annex
43, p. 73. 369, 432, 580, 634 ; V. 44, p. 459, 499, 714, 752, 754, 782,
As to the debt of the Pacific railroads to the United States Govern
809 ; V. 45, p. 26, 393, 403, 472 )
ment a decismn of the U. S. Supreme Court settled the point that the
T o n a w a n d a V alley & C u b a.—Owns from Attica, N. Y. to Cuba, payment of interest on the loans was not obligatory on the companies
N. Y., 60 miles. Stock $587,100. $113,000 of 1st mort, bonds were re thi
f r b e c a m e due. Afterwards Congress passed
served lo redeem same amount of 6 per cent bonds due 1910. Mr. the Thurman Act, May 7,1878, which, for the Union Pacific, provided
JBird W. Spencer, was appointed receiver in 1884, and reorganization is that 25 per cent of the net earnings, after deducting interest on the
pending. Gross earnings in 1885-86 (8 mos., closed during rest of fiscal first mortgage bonds and construction and equipment expenditures
year; $10,624 ; deficit, $3,195. Gross in 1884-85, $18,694; def., $5,073; should be paid annually to the Government as foilow s: Pirst-^
other receipts, $2,929; net deficit, $2,143. (V. 44, p. 235.)
Applied directly to interest account, one-half of Government earn^
T ro y & B o s to n .—Owns from Troy, N. Y., to Vermont State line, 35 ings and 5 per cent of net earnings, after deducting in te r e s t ^
8econd—To be placed in the sinking fund—
miles; leased: Southern Vermont 5 milés; Troy & Bennington, 5 miles ;
Vermont State line to North Adams, 6 miles; total operated, 53 miles. the other half of the Government earnings and so much of $850.000 as
Stock, $1,645,600. In addition to the above bonds-there wereout- ^ r yi.»P+P.fCn88aiT t0
payments by the company equal 25
Btanding Sept. 30, 1886, several smaller issues of bonds amounting to percent of its net earnings. On Dec. 31,1886, this sink, fund invested
$306,500. In January, 1887, an agreement of consolidation was made Ln U. S. bonds (par value) was $5,526,100, and the premium paid on
with the Fitchburg of which the terms were given in V. 44, p. 544. bonds and cashffimnvested was $1,395.708; total, $6,921.8<>9 p Q
®9NL>8-—The capital Block issued and outstanding is
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, $60,868,500, having been increased about $10,000,000 since the consoli
. $475,206; net, $230,989. (V, 44, p. 59, 91, 119, 309, 421, 527,544,' 551.) dation m 1880. : Dividends since 1879 have been as follow s: in 1880,6
in 1882,7; in 1883,7; jn 1884, 3^; none since
T y ro n e & Clearfield..—East Tyrone Pa., to Curwensville, Pa., 44 percent; in 1881, 6%; Prices
of the stock has been—In 1880, 80® 113% ;
miles; branches, 20 unies ; total, 64 miles. This company was leased to
1
0
5
^
1
3
1
%
;
in 1882. 9834'2>119%: in 1883
049k • in
thé Pennsylrania Railroad for 50 years in 1882. The bonds have a
hfc14’44
*
1
3
%
:
“
1885,
41®
625k;
1111886’ 4434® 68%; in 1887 to Nov. 18„
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. eo°L1ltlLHPi0P ,i>aciliP c°Uateral trust bonds, the first issue Is limited to
bonds: Omaha & Republican Valley RR.,
U lster &, D ela w a re.—Owns from Rondout (Hudson River), N. Y.; $1,037,000; Colorado Central Railroad bonds, $2,105,000; UtahNorthto Stamford, N.Y., 74 miles; branch to Hobart, leased, 4 miles ; total,
$2,387,000| total, $5,529,000* T te collateral toust
78 miles. This was the Rondout & Oswego in 1876, reorganised May 28, £?: qqJ
83 are secured by the following bondsi Colorado Central RR.
1872, as New York Kingston & Syracuse, and again after foreclosure,
$2’2? 1’°5 0; O m aha* Rep. Valley
May 1, 1875, as Ulster & Delaware. The stock is $1,152,100. There
are also $50,000 real estate mortg. bonds. In 1884-85 the gross earnings & p £ 6,8fc°!S&,SSo; § © ' “S K S J " “ 10“ W 3-000' S o . Park
were $325,837; net earnings $120,527. In 1385-86, gross, $339,566;
The outstanding bonds of Kansas Pacific above are given less the
net, $140,471. Thomas Cornell is President, Rondout, N. Y.
amounts of each class held by the trustees of the general mort. The oonU n ited N ew Jersey R a ilro a d & Canal C o.—L ines of R o ad .— sol. mortg. trustees are Jay Gould and Russell Sage, and they held in
New York to Philadelphia and branches, 135 miles; Camden to Amboy
1’ a88? ’ th? following bonds oi the Kansas Paoiflcfmaking
and branches, 226 miles ; Trenton to Manunka Chunk and branches, $6,799,100 m all, viz.: Leavenworth Branch, $582,000; income iunsub81 miles ; total operated, 443 miles. Delaware & Raritan Canal, 66 miles. ordmated)bonds, $21.7,750; income (subordinated) bonds, $3.948,400:
This company was formed by á consolidation in 1867 of the Delaware & Cheyenne Branch Den. Pac. bonds, $2,051,000. Thev also held <fi! 997 ’
Raritan Canal Company, the Camden & Amboy Railroad, and the New
Jersey Railroad & Transportation Company. The United New Jersey
Land Grant.—The proceeds of land sales on the Union Pacific main
Railroad & Canal Companies were leased in May, 1871, to the Penn
ar® aPpllpable to the principal of the land grant bonds, and aftot
sylvania Railroad for 999 years, at a rental of 10 per cent on the
S1»lfm8 fund mortgage 8 per cent bonds. On the Kansas
stock, besides interest on bonds. The smaller leased roads were taken
L
^
p
t fr e y a s h income from land is applied to the general mortgage. On
with their several contracts. The lease has not been directly profitable
in cash receipts to the Pennsylvania Railroad, and the net loss in 1879 of
o8^ he c°tttoanybad in cash from the Un. Pacific grant the sum
was $939,889; in 1880, $1,035,308 ; in 1881, $302,864 ; in 1882, $568,- ^ v ' ^ 12’? 0^ aild m land contracts $9,095,341, which stuns are appli759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496; in 1886, ®ffrlc tost to the payment of the land grant bonds, and then to thepay$179,016 ; but the connection with New York was indispensable. Oper ment of the 8 per cent snaking fund bonds due in 1893. On Jan 1.1887.
ll- Pao- lands unsold were 3,175,507 acres, estimated at $2,395,507;
ations and earnings aré included in the Pennsylvania RR. report.
™ .K' p ; lands unsold, 3,883,700 acres, estimated at $11,608,763.
U n io n Pacific R a ilw a y .—(See Map.)—Lines of R oad .—Main
The sales m 1884,1885 and 1886 were as follow s:
line—Council Bluffs to Ogden and branches; 1,Q49 miles; other
Union Pacific—
1884.
branches—Kansas City to Denver. 643; Denver to Cheyenne, 106;
1885.
1886.
Leavenworth to Lawrencé, 34; total owned, 1,832 miles; controlled Acres sold...................................
4,321.043
743,704
146,189
and operated in the Union Pacfle system January, 1887—Omaha & ^ m<>unt.......... ............................ $6,517,773 $1,223.227
$179,10ff
Repub. Valley RR., 289 miles; OmahaN. & Black Hills RR., 115: Color Average price............................. J $ i 52
$1 65
$1 22
ado Central RR., 327 ; Echo A Park City RR., 32; Utah & Northern RR.,
Kan. Pacific—
466 ; Lawrence & Emporia RR., 31 ; Junction City & Ft. Kearney, 88 ; Acres s o ld ..................
452,566
690,294
225,623
Solomon RR., 57; Salina & Southw’n, 35; Kan. Cen., 167; Den. & Boulder Amount..............
$1,917,876 $2,817,159 $1,049,122
Valley., 27 ; Golden Boillder & Car., 5 ; Oregon Short Line and branch, Average price.......................... .
$4 2 1 ^
$4 08
$4 68
611 ; Greeley Salt Lake & Pacific, 54; Denver South Park & Pacific, 322;
Total— '
Salt Lake & Western, 57; Georgetown Breckenridge & Leadville, 8 miles;
4,773,609
Montana Railway, 9 miles; Denver & Middle Park, 4 miles; Denver Acres sold.........................'_____
1,433,999
1,571,812
Amount..................................
$8,435,649 $4,040,387 $1.228,225
Marshall & Boulder, 27 miles; Laramie No. Park & Pac., 14 miles; Man
hattan & Blue Valley, 54 miles; Marysville & Blue Valley, 13 miles:
P
a
c
i
d
c
l
a
n
d
s
,
f
r
o
m
t
h
e
3
8
0
t
h
m
i
l
e
w
e
s
t
w
a
r
d
,
a
r
e covered
Salina Lincoln & Western, 35 miles; total thus controlled, 2,762 miles;
total operated in the U. P. system Jan. 1,1887, 4,594 miles.
IFSKSfsS*SSiSS?” ' m c a r t s a s e ’ ‘ m l ““ « “
»' 0* Km-
lîlOrYMPIW'ïyîSriüènsbur^
MAP OF THE
U N IO N P A C IF IC
R A ILW A Y
AND ITS CONNECTIONS.
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
e0l» a
11«
M
T e m n o lf
(ffiChehalis
N ovem ber ,
RAILROAD STOCKS AND BONDS.
1887. J
I l l
Subscribers w ill confer a great favor by g iv in g Im m ediate notice oi any error discovered in these T a b les.
Bond»—Princi
INTEREST OR DIVIDENDS.
pal,When Due
DESCRIPTION.
Date Size, or
Amount
Rate per When Where Payable, and by Stocks—Last
Par
of
„ .
—
...
whom.
For explanation of column headings, Ac., see notes
Dividend.
Payable
Cent.
Bonds. Value.
on first page of tables.
Union Pacific—( Continued)-Kansas Pac., 1st more., gold, 140thto 393d miledo
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
Income bds, coup., 3d M.on 427 miles
Utah Central—Stock.....................................................
1st mortgage, «
o
l
d
.
••■•••.-a -a: ••
Utah Southern, general mortg. (for $l,9o0,000)..
Utah South. Extern, 1st M., Juab to Frisco..........
Utah dk Nevada—Stock................................................
Utah dk Northern.—1st mortgage...............................
Utica dkBlack River—Stock............................ ............
Mortgage bonds.............................. ........................c
Black River & Morristown, 1st mortgage. . . . . . . . o
Clayton & Theresa, 1st mortgage, guaranteed .. c
Ogdensburg & Morristown, 1st m or tg a g e ........c
Utica Chenango dk Susquehanna Valley—Stock...
Utica Clinton dk Binghamton—1st mortg...............
Valley (N. Y.)—Stock...............................................
1st mortgage............. .......... .
- •.........
Valley (Ohio)—1st mortgage, Clev. to Canton—
Consol, mortgage gold (for $4,000,000) .............
Valley (Va.)—1st mortgage— ...............................
Vermont dk Massachusetts—Stook... . . . .......- - - - - Bonds of 1883 (guaranteed by Fitchburg EE.).
............... -••Vermont Valley o f 1871—Stock
1st mortgage............................. ............................
1866 $ 1,000 $4,063,000
6.303.000
1865-7
6.242.000
1,000
1869
109,200
50 Ac.
1866
4.225.000
100
1,000,000
1,000
1870
1.950.000
1,000
1879
1.950.000
1,000
1879
555,860
.t ..
5.543.000
1,000
1878
2.223.000
100
1.107.000
1871 500 Ac.
500,000
1874 500 Ac.
200,000
500 Ac.
143.000
1,000
1883
4,000.000
100
790.000
’66-’72 500 Ac.
750.000
....
400.000
1881
1.600.000
1879 100, Ac.
1.700.000
1,000
1881
750.000
1,000
1881
3.193.000
100
1,000,000
1883
1,000,000
50
50
800.000
1,000
24 1880
253
394
245
427
280
361*
105
138
37
462
180
87
36
16
10
97
31
12
12
59
76
113
59
Operations, F inances, A c.-T h e Union Pacific has made large earm
in pa and until 1883 and 1884 operated its road at a low percentage of
expenses. The competition ana reduction of rates bybuilding of new
Utim 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-
FISCAL RESULTS.
1884.
4,476
1885.
4,519
June 1, 1896
1895 to ’97
Sept. 1, 1899
July 1, 1916
Oot., 1884.
Jan. 1, 1890
July 1, 1909
July 1. 1909
(? )
July 1, 1908
.1. '& 'j. New York, 40 Wall St.
Sept., 1887
M. A S. N. Y., R. W. A O. Co.
Jan. 1, 1891
J. & J. N. Y. Cent. Trust Co.
Jan. 1, 1894
do
do
J. & J.
July 1, 1898
do
do
J. & J.
Jan. 1, 1891
do
do
J. & J.
Nov. 1, 1887
M. & N. N. Y., D. L. A W. RR.
J. & J. Utica, Oneida Nat. B ’k. Jan. 1, 1890
During 1886
N. Y., D. L. AW.
do
do
Aug. 1, 1911
F .'& A .
J. A D. New York, Cent. Tr. Co. June 15,1906
Sept. 1,1921
do
do
M. A S.
Oct. 1, 1921
A. & O. Balt, and New York.
Oot. 7, 1887
Boston,
Office.
A. & O.
M. & N. Boston, Fitchburg RR. May 1, 1903
July
1, 1887
Bellows
Falls.
J. & J.
A. & O. Bost., SafeDep. ATr.Co Oot. 1, 1910
J. & D. New York, 40 Wall St.
M .& N . N. Y., Lond. & Frankft.
M. A S. N. Y.,Bk. of Commerce
New York, 40 Wall St.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
—(V. 43, P. 50, 164,192, 245, 275, 309, 353, 3 6 6 , 548, 608, 672, 738 ;
|V. 44rp. 22, 23, 60,118,149. 212, 344, 413, 4 3 2 , 435, 4 3 6 , 586, 621,
782; V. 45, p. 53,142, 203, 539.)
“ Fromnja n ? i to Sept. 30,1887 (9 mos.) gross earnings were $20,781,643, against $18.83c,058 in 1886; net, $8,444,251, against $6,<87,234.
The annual report for 1886 was in the Chronicle, V. 44, p. 432, 43b,
and the following figures were given for the whole sytern operated:
Miles operated Dec. 31..................
i g>
6 g.
7
1
6 g.
7
7
(? )
7
31«
7
7
7
5
3
6 &7
5
5
7
6
6
3
5
3
5
1886.
4,594
p f s S S s 8^ 0” 1”
6,070*897 5.809,018
6,096*237
ETeight
17|092,927 18,193,255 18.588,744
Mail, express and miscellaneous... 2,493,466
1,92,2,899
1,918,815
U ta h Central—(Sec Map Tin. Pacific)—From Ogden, Utah, to Frisco,
280 miles. A consolidation July 1, 1881, of the Utah Central, Utah
Southern and Utah Southern 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. (V. 45,
p. 203.)
U tah & N e v a d a ,—Owns from Salt Lake City, U. T., to Terminus
U T 37 miles. The Utah Western made default January 1,1878, ana
the road was held by trustees for the bondholders, and was foreclosed
Nov. 3, 1880, and this company organized. Union Pacific holds
$438.500 stock. Gross earnings in 1885. $58,588; net, $30,041. Gross
earnings in 1886, $83,420; net, $40,750.
U ta h & N orthern—(gee Map Union Pacific)—From Ogden, Utah,
Total earnings.......................... 25,657,290 25,925,172 26,603,796 to Garrison, and the line of Northern Pacific, with branches to Butte
Operating expenses and ta xes......14,868,115 16,157,721 17,608,619 City and Anaconda Mines ; total, 466 miles. This road forms a connec
tion between the Northern Pacific at Garrison, Montana, and the Union
9,767,451
8,995,177 Pacific at Ogden. Stock $5,543,000, and 6 per cent dividend paid in
Net eam iiqjs............................ 10,789,175
1884, and l per cent Jan , 1885. The road was built by Union Paciflo,
P ot centof earnings to expenses... 57‘ 95
62-32
65-19
whichowns $4,816,400 stock and $4.968,000 bonds. For the year 1885,
gross earnings, $1,910,555; net, $288,935. Tn l 886, gross. $2,050,439 ,
* Not including company’s freight.
net,
$459,418; interest, Ac., $388,0 LO; surplus. $72,959.—(V. 43, p.
INCOME ACCOUNT.
125.)
1884.
1885.
1886.
U tica & B la c k R lv e r .-U t ic a , N. Y., to Ogdensburg, N .Y ., 134
............................
10,78*9.175 9,68*441
8,995,179 miles; Carthage to Sackett’s Harbor (leased), 30 miles, Clayton to
Income from in vestments.................
406,416
1,382,811
890,020 Theresa, 16 miles; total, 180 miles. A consolidation with leased lines
Miscellaneous land sales..................
7,455
10,335
13 ujlo was made in March, 1886, embracing this mileage. The¡companyhiw
Investments, premiums, Ac.............
66,474
............
b7U,34i paid moderate dividends for a number of years. In April, 188b, tne t o m .
Received from trustees K. P. con.
• ••••
„ ._ ,,_
, i , , » . . was leased in perp3tuity to the Rome Watertown & Ogdensburg KK.
mort. on account of interest........
249,416
207,110 1,113,600 Co. at a rental guaranteed to pay fixed charges and 7 per cent yearly
Profit and lo s s ...................
............
............ _ _ _ _ _ _ _ on the stock. (V. 41, p. 276.)
Total income................................11,518,936 11,287,697 11,784^082
U tica Chenango & Susquehanna V a H ey .—Owns from TJtioa,
N. Y., to Greene, N. Y., 75 miles; branch to Richfield Springs, 22 mfiea,
I n S r t S b o n d ’s ............................ 5,397,070
5.336,267 5,197,731 total, 97 miles. Road opened October, 1872. Leased to Del. L a c k .«
Discount*and interest!" . I. ............. ’ 366,077
356,133
67,224 Western at 6 per cent on stock. Has no bonded debt.
Losses on invest., prem., A c.............
_-- - - - •
9|>945
Sinking fund, company’s bonds.......
591,540
593-605
591,965
U tica C lin ton & B in g h a m t o n .—Owns from Uti<^, N.Y., to
Interest-auxiliary lmes.................. 1,213,036
1,191,010 l , 208.300 Randallvllle, N. Y., 31 miles, and leases Rome A Clinton RailroaCb 13
Land taxes, Ac., Union Div.............
84,839
39,920
62,640 miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Loss on Leav. Top. A S. RR ................................
21,579
11,722 York A Oswego Midland Railroad. The lease ^was transferred to
the Delaware A Hudson Canal Co., and subsequently to N. Y. Ontario A
Total expenditure....................... 7,652,562 “ v632,461 7,229,681 Western, which pays the rental of $70,500 p< r annum for U. (fi. A B.
Surplus income
. . . . . . . . . . . . . . . . . 3,866,374
3,655,233 4,554,401 and $25,500 for Rome <& Clinton. The road w a s operated by the Del.
1,184,053
808,033 T.ack Ar West, till Aoril 1 . 1883. Gross eamines m 1884-80, ipzio,ouz,
f f i - U S r e q u i r e m e n t s ................ 1,187,110
net, $24,176. Gross ?n 1885-6, $229,400; ne), $105,660. Capital stock,
Total surplus in com e.............. 2,679,261
2,471,180 3,746,363 $849,285, of which city of Utica holds $200,000, with interest guaran
teed 5 per cent, James 1. Soollard, Pres., Clinton, N. Y.
* The diffeience ($80,010) between these figures and the net earnings
as given above is accounted for by deductions made this year to allow
Valiev (N. V .) R a i l r o a d . —Owns from Binghamton, N. Y., to State
proper comparisons.
line of Pennsylvania. 12 miles. Opened October, 1871. Leased to
A comparison of the condensed balance sheet for three years is as Delaware Lackawanna A Western at 8 per cent per a“ 111“
which was reduced in 1882 to 5 per cent, the lessee assuming the interest
follow s:
on bonds. Samuel Sloan, President. Hew York City.
GENERAL BALANCE AT CLOSE OF EACH YEAR.
1884.
1885.
1886.
Valiev (O hio).—Owns from Cleveland, O., to Valley Junction, O.»
Assets_
$
$
$
miies^ and 20 miles of small branches. Of the consol. mortgage
Road, equipment, A c.................158,918,607 159,298,919 161,283,688 75
$1
600,000 is held in trust to retire the first mortgage when due. The
Stocks and bonds owned, cost.. 37,499,325
39,233,5^7
35,529,187 consob
mortgage is a first lien on the Cleveland terminal property
Miscellaneous investments.----620,640
_ 75o,750
Earnings m 188b, jt>b2»,400,
Advances..................................... 4,797,936
3,415,280
5,697,670 Pjnit.ni ski 257 347 nar $50.
net! $303,857. Earnings in 1835, $569,192 ; net, $261,446; surplus
Materials, fuel, A c.....................
1,220,612
1,683,432
? ’ § t ? ’?Qn over payments, $35,793. (V. 43, p. 572; V. 44, p. 527.)
Cash and cash resources.................................
- - - - - - . . ..
?->*jhi,i90
Denver Extension sink’gfun d.
407,000
522,480
638,639
V alley (Va.)—Owns from Harrisonburg to Lexington, Va., 62 miles.
Trust 5 per cent sinking fund.................... .
70,440
68,8 la By this and connecting lines under B. A O. control, the^stance from
Bonds and stocksheldTntrust. 3,215,200
3,215,250
3,217,250 Lexington is 243 miles to Baltimore and 217
Land department assets............ 15,654,203
18,159,290
18,599,519 Baltimore A Ohio has a large interest initssecurities. In year endrng
Sept. 30,1887, gross e a r n i n g s were $ 122,272; net, $43,3b9, 1885-86,
Total....................................... 222,333,523 226,279,509 230,030,959 grobs receipts, $125,667; net, $37,303. (V. 43, p. 608, V. 45, p. b .)
V a v m n n t Ar ]TT,1. . n nh ii . j i t s . —Line of road, Fitchburg to Green8 * ^ . 7 . .....................
60,868,500 60,868,500
60,868,500
field, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitob*
Funded debt................................ 84,173,285
81,957,682
United States subsidy bonds... 33,539,512
33,539,512
33,539,512 burg RR. for 999 years at 6 per cent on stock. (V. 43, p. b3b.)
Accrued int. on subsidy bonds. 15,324,738
15,167,214
15,670,753
V e rm o n t V a liev o f 1 8 7 1 .—Owns from Bellows Falls to BratFloating debt.............................. 3,237,697
*1,861,445
..........
tleboro, Vt., 24 miles, and by .purchase of stock
Interest accrued not d u e ..........
788,671
774,104
RR.
from Bellows Falls to Windsor. Vt.. 26 miles , toU l, 50 rnilM.
General income (profit and loss) t7.837,350 tl0,493,284
13,827,456 fpollfid
in thft interest of the Connecticut River RR. Tnc DUiirvaii
ncome used for sinking fund.. 2,383,029
2,976,634
„
County
RR. stook is deposited as collateral security foi- tho above
Land and trust income............. 14,180,742
18,641,134
19,828,519 mort. bonds.
Earnings, Ac., for three years ending March 31, were, .una
Total liabilities.................... 222,333,523 226,279,509 230,030,959
f After deducting deficit of U. S. requirements, as compared with
accrued interest on U. S. bonds Feb. 1,1880, to date.
i Not including 916,704 due to U. S. under Thurman Act, paid April
16.1885
Net Divid d,
Oross
Passenger Freight (ton)
Earnings. Earnings. P erot.
Mileage.
Years. Miles. Mileage.
6
$398,614 $113,784
188384 50 4,555,171 20,864,921
110,747
6
373,598
188485 504,246,085 20,199,299
125,540
6
402 427
188586 504,559,950 26,093,466
114
INVESTORS’ SUPPLEMENT.
[ V o l . XLY.
Subscribers w ill eonfer a great fa v or by g iv in g .im m ediate notice o f any error discovered in tbese T a bles.
DESCRIPTION.
Miles
Tor explanation of column headings, &e., see notes of
on first page of tables.
Road.
Vicksburg <£Meridian—1st mortgage................ ...
2d mortgage................................. ..................... ...
3d mortgage income (not cumulative)........... ...
Vicksb. Shrevep. & Pac.—Prior lien mort., gold .c*
1st mortgage, gold............................................
c*
3d mort., and 1st mort. on land, g o ld ............ c*
Income bonds.....................................................
Virginia Midland—Stoch...............................
” !
Bonds, 1st series............................................ .
do
2d series................................... ...........
do
3d series................................................
do
4th series........... ...................................
do
5 th series................................................
do
6th series...............................................
Income mortgage bonds strictly cumulative.......
Gen’l moit., int guar, by R. & D., $12,500,000.c*
Virginia <t Truckee—1st M.(pay’ble $100,000 a year)
Wabash St. Louis <&Pacific—Stock, common............
Preferred stock, 7 percent (not cumulative)........
1st mort., gold (Chic. D iv.).....................................
1st mort., gold, Detroit Division..............................
Wabash, 1st mort. (Toledo & Illinois).....................
do
1st mort. (Lake Erie Wab_& St. L.).......
do
1st mort. (Great Western of 1859)..........
do
1st mort. (Quincy & T oledo).................. .
do
1st mort. (111. & So. Iowa) extended......
do
2d mortgage (Toledo & Wabash).............
do
2d mortgage (Wabash & Western)..........
do
2d mortgage (Great West, of 1 8 5 9 ).......
do
Consol. M., (on all but Dec. & E St.L.)..
140
140
140
189
189
189
354
.Bonds—Prinoi INTEREST OR DIVIDENDS.
Size, or
Amount
pal,When Due.
Par Outstandins Rate per When Where Payable, and by Stocks—Last
Value.
Cent, payable
Whom.
Dividend.
1881
1881
1881
1885
1881
1886
347
52
1881
1881
1881
1881
1881
1881
1882
1886
1874
262
112
75
267
180
33
29
75
167
180
490
1880
1881
1853
1853
1863
1865
1862
1853
1858
1865
1867
$1,000 $1,000,000
6
1,000
1,100,000
4 to 6
1.920.000
500 &o.
7
1,000
1.323.000
6 g.
1,000
4.000.
000 6 g1,000
1,064,250 3-4-5 g.
2.070.000
Too 4,940,363
6
600,000
1.900.000
6
1.100.000
6
950.000
3-4-5
1.775.000
5
4 &5
1.309.000
1,000
6
604.000
1,000
3.717.0 00
5
1,000
10
200.000
(?)
.
(?)
1,000
4.500.000
1,000
2.052.000
1,000
900.000
1,000
2.500.000
7
1,000
7
2.496.000
1,000
500.000
7
500 &c.
300.000
6
250 &0. 1.000.
000 7
100 &o.
1.500.000
7
1,000
2.500.000
7
1,000
2.610.000
7
V ick sb u rg & m erid ia n .—L ike of R oad .—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
Ala. N. O. Tex. & Pac. June. Co. The company was unable to earn full
interest, and reorganization was made in 1881. Preferred stock, $1,940,e l2 ; common stock, $3,962,100. •A receiver was appointed in 1«85 on
•“ judgment obtained against it. and an outline of the proposed plan of
reorganization 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, le8 7 , p. 680.
RECEIPTS AND EXPENDITURES FOR YEARS ENDING MARCH 31.
1833-4.
1884-5.
1885-6. 1886-7.
Miles road operated............... .. 140
140
140
143
Earnings—
Passenger................................ .$190,215 $169,162 $164,818 $155,903
Freight-..................................... , 300,026
296,973
307,609
345,268
Mail...........................................
9,307
11,927
13,039
13,10.3
E xpress.................................. .
5,342
6,445
7,467
10,303
Miscellaneous........................ .
8,991
11,095
10,320
7,191
A. & O. N.Y. .Muller,Schall & Co.
M. & N.
de
do
do
do
M. & N. N.Y., Farmers’!.. &T.Co.
J. <fe J.
do
do1st coupon due Jan., 1888.
April 1, 1921
May 1, 1921
June 1, 1921
Nov. 1,1915
Aug. 12, 1920
Jan. 1, 1916
M. & S.
M. & 8.
M. & S.
M. & S.
M. & S.
M. & 8.
J. & J.
M. & N.
Q .-F .
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.
May
Aug.
Balto., Mech. Nat.Bank,
do
do
do
do
do
Last paid July, 1884
S.Y., Central Trust Co.
San Fran., Bank of Cal.
J. '& J. Last
J. & J. Last
F. & A. Last
F. & A. Last
F. & A. Last
M. Sr. N. Last
F. & A. Last
M. & NJ Last
M. & N. Last
M. & N. Last
Q.—F. Last
paid
paid
paid
paid
paid
paid
paid
paid
paid
paid
paid
July
Jan.
Aug.
Aug.
Aug.
Nov.
Aug.
Nov.
Nov.
Nov.
Nov.
1,1885
1,1884
1,1885
1,1885
1,1885
1,1885
1,1885
1,1884
1,1884
1, 1884
1,1884
1,
1,
1,
1,
1,
1,
1,
1,
1,
1906
1911
19161921
1926
1931
1927
193»
1889
July 1, 1910
July 1, 1921
Aug. 1, 1890
Aug. 1, 1890
Aug., 1888
Nov. 1, 1890
Aug. 1, 1912
May 1. 1893
May 1, 1893
May 1, 1893
Feb., 1907
mnburg to the B. & O. RR., and a fifth lien between Alexandria and
Goraonsville, including Warrenton Branch and lease of Charlottesville
Rapidan RR., and a fourth lien between Charlottesville and Lynohourg; the sixth series is a first lien between Lynchburg and Danville,
including Pittsville Branch and lease of Franklin & Pittsylvania RR.,
and a sixth lien on lease of Charlottesville Rapidan Railroad.
The income mortgage bonds were issued to retire 1st and 2d preferred
stock; the interest is striotly cumulative, and secured bv the mortgage,
and m July, 1885, the coupon due July, 1884, was paid. These bondsare exchangeable into the general mortgage bonds bearing 5 p. o. inter
est, and guaranteed by the R chmond & Danville RR. Co.
Of the general mortgage bonds of 1836, $7,635,009 are held to retire
the serial bonds, also enough for the incomes.
Earnings for the years ending September 30 w ere:
Miles.
Gross receipts. Operat’g exp’ses. Net receipts.
1881-82 . . . .
$1,491,921
$945,116
$546,804
1882-83___
354
1,664,204
956,191
708,009
1883-84 . . . .
354
1,625,830
999,217
626,612
1884-88-....
354
1,554,375
990.432
563,943
1885-86 . . . .
354
1,551,703
1,032,431
519,272
New York Office, 2 Wall St. (V. 43, p. 4 8 8 ; V. 44, p. 204, 681; V. 45.
Total..................................,$513.884 $495,603 $503,301 $531,772 p. 85.)
^
*
Operating expenses............... 391,061
443,939
426,498 484,362
V irgin ia & T ru c k ee .—Reno, N e v , to Virginia, N e ^ 52 miles.
Net earnings........................... $119,823
$51,663
$76,806 $47,409 The bonds are payable $100,000 per year. Gross earnings in 1886
were $702,891; net, $353>544; dividends, $270,000; interest and
Chargeable against revenue —
Fortaxes.................................., $16,800
$17,550
$16,741
$18,235 bond payments, $303,170. In 1885, gross, $599,149; Det, $282,668;
For interest on bonds............ 103,083
104,000
114,083
Ì25.083 interest paid, $47,500; dividends. $180,000; bonds redeemed,$100,For int. on current accounts.
3,292
15,894
14,232 000 ; deficit, $44,832. D. O. Mills. President.
7,633
Forexpensesof landdep’ c...
7,049
4,477
4,416
4,298
W a b a s h St. L o u is & P a c i f i c .—The roads East of the Mississippi
Tot. paym’ts charg’ ble to rev.$l30,225 $133,660 $151,135 $161,899 River (operated by Receiver John-McNulta, except the Detro t Division)
embrace the following pieces covered by the several mortgaarrs: Toledo
Net deficit................................. $10,402
$81,997
$74,329 $114,489 & Illinois first mortgages—Toledo to Indiana State line, 75 miles; Toledo &
—(V. 43, p. 636 ; V. 44, p. 586, 6 8 0 , 714 ; V. 45, p. 54, 113.)
Wabash, second mortgages -Toledo to Indiana St ate line, 75 miles; Lake
Erie Wabash & St. Louis, first mortgages—Ohio 8tate line to Illinois State
V ick sb u rg Shreveport & Pacific .—See Map Cincinnati New line,
166 miles; Wabash & Western, second mortgige, Okto State line
Orleans <£ Texas Pacific. From Delta, La., on Mississippi River, to
Shreveport, 169 miles, and extension to Texas State Line. 20 miles to Illinois State line, 166 miles ; Great Western of l35J,thMt and second
mortgage-Indiana
State line to Mered isi i and Naples. 11!, 180 miles;
(the latter leased to Tex. & Pac.); total, 189 miles. The old Vicksburg
Shreveport & Pacific road was sold in foreclosure Dec. 1,1879, and Illiuois & Southern Iowa. 1st mo tg ige—Clayton to Carthage, III., 29
miles;
Quincy
&
Toledo,
1st mortgage—Clayton to Meredosia, 111, 33
reorganized under present title. The stock was $3,000,000, but was miles; Decatur Sr. East St. Louis,
first mortgage—Decatur to E. St.Louis,
reduced to $1,650,000, of which the Alabama New Orleans &
103
miles
;
Hannibal
&
Naples,
1st mortgage—Hannibal- Mo., to Naples»
Texas Pacific Junction Railroad Company holds a majority, and III., 50 miles; Wab. St. L. & Pacific
(Chicago Division), 1st mortgage—
controls thiB company, also holding $3,69^,000of the 1st moctg. bonds Screator, 111., to Effingham and Altamont
and Strawn to Chicago, 268
and $1,931,000 inoomes. In 1885 it was voted to issue the above prior
miles;
Wab.
Sc.
L.
&
Pacific
(Detroit
Division),
1st mortgage—Detroit to
lien bonds Jor improving the road bed, completing the transfer across Butler, Ind., 114 miles. The total mileage operated
is 956.
the Miss. River, &c. In 1886 the old income bonds of $2.500,000 and
O
rganization
.
L
eases
,
&c.—The
Wabash
St.
Louis & Pacific was
the stock were to be exchanged for 3d mortgage and land bonds (see
V. 43, p. 104), and this has been partly effected. Tne annual report formed Nov. 7,1879, by a consolidation of the Wabash an-.l the St. Louis
was in V. 45, p. 537. In year ending June 3 •, 1887, gross receipts Kansas City & Northern roads and their branches. The Wabash Com
were $564,317; net, $144,899; in 1885-6 gross $484,811; net, $90,454. pany had been organized Jan. 1,1877, as successor of the Toledo Wab.
& West., which company was formed June 25,1856, by a consolidation
—(V. 43, p. 104; V. 45, p. 537.)
of several companies, and defaulted on its interest in 1875 and was fore
V irgin ia M id la n d .—(See Map o f Richmond <6 Danville.)—Line closed June 10, 1876. The St. Louis Kansas City & Northern was
OF R oad . — From Alexandria to Gordonsville, 88 miles; Warrenton formed in 1871 as successor of the North Missouri Railroad, which was
Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg sold in foreclosure August 26,1871.
to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junction
In April, 1883, the Wabisb St. Louis & Pacific was leased for 99 years
to Harrisonburg, 114 miles (of which 49 miles leased to Balt. & Ohio;; to the St. Louis & Iron Mountain (and thus to the Missouri Pacific), on
Front Royal Branch, 1 mile; total owned, 347 miles. - Leased. Orange the general basis of paying over to the Wabash Its net earnings each
C. H. to Charlottesville, 28 miles; Pittsville to Rocky Mt., 30 miles; year.
total leased, 58 miles. Total owned and leased, 405 miles, of which 51
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
miles, Strasburg Junction to Harrisonburg, is leased to the Balt. & Ohio, appointed receivers on the company’s own application In view of the
leaving 354 miles operated.
prospective default June 1 on the general mortgage bonds. Receivers'
The Washington City Virginia Midland & Great Southern was a con certificates were issued for about $1,400,000 and notes for $2,183,000.
solidation (November, 1872) of the Orange Alexandria & Manassas and to take up notes endorsed by Messrs. Gould, Humphreys and others, but
Lynchburg & Danville railroads. The Orange Alexandria & Manassas these were finally taken up by leaving to the said endorsers the $2,700,was a consolidation (June 1,1867) of the Orange <fe Alexandria and the 000 of collateral trust bonds held by them as security.
Manassas Gap. The Washington City Virginia Midland & Great South
The plan of reorganization was published in the Chronicle, V. 40,
ern was put into the hands of a receiver July 1, 1876, interest being in p. 571, and, as afterward modified, in V. 41, p. 300, providing for the
default, and was sold in foreclosure May 13,1880, and after litigation issue of $30,000,000 new debenture bonds, to be disposed of as there
sold again Dec. 20,1880. Reorganized as Virginia Midland, and bonds stated; also the following points were embraced in the plan:
And stock issued as above.
The whole property to be foreclosed under the general and collateral
In April, 1886, a lease of this road was made to the Richmond & Dan trust mortgages, anl upon receipt of the new debenture bonds, the hold
ville on the basis of a payment of the fixed charges and the payment ers of general mongage and collateral trust bond certificates to pay
b y the lessee of any balance of net earnings to the Va. Midland Co. Tne two per cent in cash on the face of the new bonds, for which they would
lessee may if it chooses advance the money for interest on the six receive debenture bonds or scrip.
series of prior bonds if earnings are insufficient, but guarantees posi
After the formation of the new company, the Purchasing Committee
tively the general mortgage interest.
will offer the new stock to the stockholders of the Wabash St. Louis &
Of the above bonds, the first series Is a first lien between Alexandria Pacific Railway Company, at the rate of eight dollars per share on pre
and Gordonsville, including lease of Charlottesville & Rapidan Railroad ferred, and six dollars per share on common stock, who, for the amount
and the Warrenton Branch; the second series is a second lien between so oaid, will be entitled to debenture bond», or scrip, dollar for dollar,
Alexandria and Gordonsville, including Warrenton Branch and lease of in addition to the shares in the new company.
Charlottesville and Rapidan JRR., and a first lieu between Charlottesville
The bondholders airree to take any stock and debenture bonds not
and Lynchburg; the third series is a third lien between Alexandria and accepted by stockholders, upon the same terms, pro rata, the amount,
Gordonsville, including Warrenton Branch and lease of Charlottesville however, not to exceed five per cent on the face of their bonds.
& Rapidan RR., and a second lien between Charlottesville and Lynch
The decree of foreclosure was made in. January, 1886, and tberoadr
burg; the fourth series is a fourth lien between Alexandria and Gordons sold April 26, 1886, to the purchasing committee, who were the only
ville,including Warrenton Branch and lease of Charlottesville <teRapidan b dders, the price for all the properties sold being $825,000. (See
RR., and a third lien between Charlottesville and Lynchburg; the fifth V. 42, p. 537.) But there was some delay in the confirmation of
series is a first lien between Manassas Junction and Harrisonburg, in sale, the floating liabilities including receivers’ debt, &c., being:
cluding Front Royal Branch and lease of road from Strasburg to Harris about $4,000,000, and there yet remained a large amount of over-
N ovem ber,
1887.]
115
RAILJROAD STOCKS AND BONDS.
Subscribers w i l l confer a great favor by g iv in g im m ed ia te n otice o f any error discovered in these T a b les.
Ronds—Princi
INTEREST OR DIVIDENDS.
•__________ DESCRIPTION.________________ Miles Date Size, or
pal,When Due.
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
For explanation of column headings, &c., see notes of
Whom.
Dividend.
Cent. Payable
Road, Bonds Value.
on first page of tables.
Wabash, St. Louis <6 Pacific—( Continuedi —
Wabash, 1st mort., (Decatur &E. St. Louis)... . ..
do
Fund, debt fods. & sc, certs, (see re marts.)
do
Mort., gold, sink. fd. $25,000 after ’82..
Hannibal & Naples, 1st mortgage...........................
Wabash Western - Stock..................................- ...........
St. L. K. C. &No., 1st mort. (North Missouri)........
do
real estate & railway 2d mort—
do 1st & 2d M.on St. Char. Bridge,coup.or rg
St. Louis Council Bluffs & Omaha—Stock.............
St. Louis Ottumwa St C. R.—1st mort....................
Dee Moines St Northwestern—1st mort.................
Ware Rivei— Stock (guaranteed)................................
Warren {N.J.)—Stock.............................................
2d mortgage, now 1st.......................... ....................
1st consol, mortgage. ............................. - -— - - •
Washington City & Pi. Lookout—1st M. bonds gold.
West Jersey—Stock........................................................
1st mortgage loan................ ....................................
1st
do
consolidated.......................................
Consolidated mortgage......................................... *•
Ocean City RR. bonds...............................................
West Jersey <£Atlantic—1st mortgage.......................
Pleasantville St Ocean City..................... ................
West S h ore- 1st M., guar, by N.Y.C.& Hud., cp., rg.
109
50
354
354
42
42
115
49
18
18
18
12
186
38
63
128
34
448
1869
1877
1879
1879
$1,000 $2,700,000
3.009,850
500 &c.
2,000,000
1,000
500,000
1,000
1865
1874
1878
1,000
1,000
1,000
1875
1,000
1855
1870
1875
1873
1866
1869
1879
100
50
100
50
500&C.
500 <fec.
500 &o
1,000
100 &0.
l.OOO&c
1885
1880
due interest on the prior mortgage liens. The Committee of Reorganiza.tion in June, 1886, proposed to the holders of all mortgages on the road
east of the Miss. River that their future interest, should be reduced to 5
per cent and overdue interest funded to 1886, (see proposal in V .42,
p. 695). Sotpe bondholders made opposition to this, and after litigation
the receivers Tutt 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 sectional mortgages. The
order made by Judges Brewer and Treat for the surrender of these lines
was in Vol. 44, p. 10. The purchasing committee 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 III. & So Iowa mort. and the Great Western of 1859, also 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 mortgages, which were thereby
extinguished, as also the stock. The Committee then held the property in
trust for the 1ormer holders of gen-ral and coilatera trust bonds and
for the stockholders who had 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
o f those lines were placed in the hands of 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 Riv*-r, and aiso expected to take or to operate by consent the De
troit Division, Butler, Ind., to Detroit, and the Eel River leased line.
Of the Detroit Division some of the bondholders in April, 1887, con
sented to fund back coupons and take new bonds at 5 per cent for their
old bonds.
PROPOSED SCHEME OP CONSOLIDATION, NOV. 1887.
On Nov. 21,1887, a plan of settlement and consolidation was pub
lished by the purchasing committee and the bondholders’ committee
which embraces the following salient p unts.
1. Cash for all overdue coupons of rne first mortgage and funded debt
bonds or scrip, except the Detroit Division, with interest on same to
November 1, 1887, upon deposit of bonds under this agreement.
2. Bonds of the new first mortgage for overdue coupons of the second
mortgages and funded debt bonds or scrip, and the Detroit Div.,with
interest thereon to November 1, 1887, and for overdue coupons on con
solidated mortgage, funded debt and scrip of same, and the Wabash
mortgage sevens of 1879.
3. Foreclosure of the mortgages was deemed necessary for the
organization of a new company or companies, and the consolidation of
the company or companies so organized with the Wabash Western Rail
way Company.
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
in semi-annual coupons, principal and interest payable in gold. Into
this all the old first mortgage bonds, funded debt and scrip pertaining
thereto, to be convertible to the amount of principal thereof.
5. A new second mortgage upon the lines east of the Mississippi
River, payable fifty years from February 1, 1888, bearing 5 per cent
interest in semi-annual coupons, principal and interest payable iu gold.
Into this the principal of the bonds of all of the old second mortgages,
the consolidateds of 1867 and the sevens of 1879 to be convertible.
8tocks and B onds.—The old pref. stock had a prior right to 7 per
cent <non-cumulative); then common to 7.
Prices of stock since 1879 have been: Common in 1830, 261u@ 48;
In 1881, 33%®60; in 1882, 2358@3978 ; in 1883, 15@36%; in 1884,
4® 19%; in 1885, 2®15ta; in 1886 (pur. com. receipts), 12®245s: in
1887, to Nov. 18, inclusive, 1318®2238. Preferred in 1880, Sl^'SSSSs;
in 1881. 64%®96%; in 1882, 457e®71% in 1883, 29%@571a; in 1884.
9®32; in 1885, 6ts®25; in 1886 (pur. com. receipts) 233s®417e; in
1887, to Nov. 18, inclusive, 23%®3814.
First moi tgage on 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 fall due
with the principal of the bonds from which coupons were cut.
The collateral trust bonds of 1883 were issued for floating debt.
These bonds were guaranteed by the St. Louis Iron Mountain &
Southern RK. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the St. Louis Iron Mt. & Southern as
secuntv for this guarantee
These and the general mortgage bonds
were to take new debentures under the plan of reorganization.
F. & A. Last paid Aug. 1,
7
6 & 7 F. St A. Last paid Aug. 1,
7 g. 4. St O. Last paid Oct. 1,
J. & D. Last paid June 1,
7
7
6,000,000
7
3,000,000
1,388,500 6 & 7 g.
626,000
6
322,500
7
135,000
7
750,000
3%
3%
1,800,000
750,000
7
600,000
7
540,000
6
3
2,000,000
6
1,000,000
1,000,000
7
6
748,500
100,000
6
400,000
6
80,000
6
50,000,000
4
1886 Aug., 1889
1885 Feb. 1, 1907
1884 April 1, 1909
1885 June 1, 1909
J. & J. N. Y., Bk. of Commerce. July 1, 1895
M. & S.
do
do
Sept. 1, 1895
A. & O.
do
do
1903-1908
A. & 0.
J. & J.
J. & J.
A. & O.
A. St O.
M. & S.
J. St D.
M. St S.
J. & J.
A. St O.
M. & N.
F. St A.
M. & S.
J. & J.
J. & J.
, Bk'of Commeroe.
Oct., 1895
July 1. 1899
July, 1887
Boston, Bost.& Alb. RR
N.Y., Del., L. St W. RR. Oct., 1887
April 1, 1900
do
do
March 1, 1905
do
do
1903
Baltimore,Balt.& O.RR.
Phila., Pa.RR.Co. Office Sept. 15,1887
do
do
Jan., 1896
do
do
Oct.. 1899
do
do
Nov., 1909
Aug., 1925
do
do
Phila., Fidelity I. T. Co. Sept. 1, 1910
Phila., Penn. RR. Office. July 1, 1910
Jan. 1, 2361
New York.
From Jan. 1 to July 31,1837 (7 mos.), gross earnings of lines east o f
the Mississippi were $3,689,304, against $3,595,899 in 1836: net, $1,202,389, against $747,256.
Earnings, expenses, &c., for four years were as below, the mileage
being in 1883, 3,560; in 1884,3,582; in 1885, 2,779, and in 1886, 2,196.
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
Receipts—
$
$
$
$
Net earnings............
3,584,195 2,610,329 1,899.938 2,974,63«
Other receipts..........
452,566
240,339
68,553
63,501
Total in com e....
2,850,668
Deduct—
$
Rentals paid................
1,144,453
Interest on debt.......
4,399,716
1,968,491
$
828,244
2,727,348
4,940,191
$
698,100
902,779
3,038.137
$
433,615
786,090
Total...................
5,544,169
3,555,592
1,500,879
1,219,705
Balance, after interest and rentals___df. 1,507,408 df. 704,924 sur.467,612sur. 1,818,432
—(V. 43, p. 21, 49, 50, 73. 104, 164, 192, 217, 218, 238, 309, 369, 400,
460, 4 Q8, 515, 516, 548, 580, 608, 636, 672, 719. 738, 766; V. 44, p. 10,
60, 119,173,185, 212. 235, 369, 344, 401, 435, 621, 654, 682, 714, 717,
782, 803; Y. 45. p. 166, 403, 438, 473, 500, 540, 573, 643.)
W a b a sh W e s te r n .- The road owned includes those parts of
the former Wabash St. Louis St Pacific west of the Mississippi River that
remained in the system when the purchasing oommittee took possession
in March, 1887: also certain lines east of the Mississippi that Judge
Cooley did not lake. The total mileage 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.; Centralia
to Columbia, 22 m.; Glasgow to Salisbury. 15 m.; Moberly to Coatesvllle,
88 m.; Coatesville to Ottumwa, 43 m.; Brunswick to Chillicothe, 3 3 m.;
Pattonsburg to Chillicothe, 42 m.: total, 534 miles. The track of the
Chicago & Rock Island road from Ottumwa to Gibbon, 37 miles, is also
used. Tne following roads are operated in addition: Des Moines St St.
Louis (Des Moines to Albia), 67 miles; Des Moines & Northwestern (Des
Moines to Foula), 115 m.; Detroit Division, 113 m ; Eel River, 93 m.;
Champa’gn & Sidney, 11 m.; Attica & Covington, 14 m.; total, 415 m.
Whole mileage operated, about 990 m ils.
The bonds of St. L. Ottumwa St C. R. RR. and the Des M. & N. W. are
not guaranteed, the roads being merely leased and operated by W. W.
From Jan. 1 to June 30 in 1887 (6 mos.) gross earnings were $2,927,698; net, $894,59J. (V. 44, p. 344, 370,466, 713.)
W a re R iv e r .—Palmer, Mass., to Winchendon, Mass., 49 miles. It
is leased for 999 years to the Boston St Albany Railroad at a rental of 7
per cent per annum. J. A. Rumrill, President, Springfield, Mass.
W a r r e n , N. J .—Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18% miles. The road is leased to Delaware Lackawanna
& Western at 7 per cent on stock and bonds. John I. Blair, President,
Blairstown, N. J.
W a sh in g to n City Sc P o in t L o o k o u t.—Hyattsvllle, Md., to
hepherd, Md., 13 miles. This road was opened in 1873. It is leased
to the Baltimore St Ohio for $36,000 gold p »r annum. The stock paid
in is $1,000,000. In 1381 it was proposed to extend the road and a
new issue of $2,000,000 bonds was authorized, due 1900. 8. T. Suit,
President.
W est Jersey.—Main line and branches—Camden to Cape May,
Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 159 miles; West Jersey
& Atlantic Railroad., 39 miles; total, 198 miles operated.
In August 1887, 20 per cent new stock was issued to stockholders, at
par, to provide acquisitions and improvements, and a fu ther issue was
made later to consolidate several of the branch roads into the W. J. Co.
From Jan. I to Sept. 30, 1887 (9 mos ), gross earnings were $1,167,153, against $1,077,141 in 1 8 -6 ; net, $455,745, against $418,849.
The annual report for 1886 was published in the Ch ronicle , V. 44,
p. 494.
Income account for four years (including 1886) was as follows:
INCOME ACCOUNT.
1885.
1886.
1884.
1883.
$
$
$
Receipts—
$
Total gross earnings.......... 1,227,651 1,319,648 1,286,012 1,352,458
501,274
476,627
503,305
Net earnings........ ............... 441,896
21,350
14,008
11,966
Other receipts.....................................
515,271
490,625
524,624
4L270
Operations, Finances, &c.—The Wabash St. Louis & Pacific extended
175,174
its lines very widely in the years 1879 to 1882 (under the presidency of
90,668
Mr. Solon Humphreys!, by the acquisition of branch and connecting
87,788
roads, and thereby assumed heavy liabilities. Although the earnings
6 p. c.
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 the formal lease
394.900
Total disbursements.... 373,766
to the St. Louis St Iron Mountain Company placed the Wabash in com
120.371
68,130
plete control of the Missouri Pacific prior to the appointment of receivers Balance, surplus____ - .......
- ( V . 44, p. 4 9 4 , 782; V. 45, p. 473, 614.)
for the Wabash.
39,038
175,174
81,990
89,113
6 p. C.
41,745
180,174
90,081
89,140
6 p. c.
385.375
105,250
401,140
123,484.
Total income.................. 441,896
Disbursements—
$
Rentals paid..................... .
36,571
Interest on West Jer. debt.. 178,888
Net earn.of W.J.&A.RR.,&c 73,075
Oividends.............................
85,232
Rate of dividend.....................
6 p.c.
116
INYESTOKS’
SUPPLEMENT.
[Y ol. XLV.
N ovem ber,
1887.]
KAILKOAD
STOCKS
AND
117
BONDb.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par Outstanding
of
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cení.
Payable
Value.
Road.
Bonds
on first page of tables.
Tuly
1, 1911
New
York,
Office.
&
J.
6
J.
$1,100,000
$1,000
60
1881
West Virginia Central A Pittsburg—1st mort., gold
A. & O. N.Y., H B. Hollins&Co. Oct. 1. 1888
340,000
8
44 1868
Western {Ala.)—Western RR. bonds, before consol.c
Oct.
1,
1890
do
do
4.
&
O.
1,171,000
8
1,000
160
1870
2d M.. guar, by Cent, of Ga. and G a.R R .& B .C o...c
Atlanta, Co.’s Office. Oct. ’87 to ’90
10
O -J .
311,000
1,000
Western A Atlantic (Ga)—Income bonds.................... 138 1873
Jan.,
1900
Balt.,N.
Mechanics’
B’k
J.
&
J.
6
875,000
500
&o.
1870
90
Western Maryland—3d M., endorsed by Baltimore.
Jan., 1902
do
do
J. & J.
6
1,000,000
loo
90 1872
4th
do
endorsed by Baltimore................... .
Jan., 1902
do
do
J. & J.
6
875,000
100
Funded coupons............................. »- - - ••- - •- ---• - - •
5
275,000
Baltimore & Harrisburg RR., M.(for Sb90,000)..
ioo
Western N. Y. A Pennsylvania—Stock ($30,000,000) 663
7,700,000
5 g. J. <fc".T. N. Y.,Company’s Office. Jan. 1, ¿938
1,000
1st mortgage ($10,000,000), g o ld ........... .......... 630 1888
Oct. 1, 1928
do
do
1,000 20,000,000 3g.or5sc. A. <& O.
2d M. (1st ou equip., etc.), $20,000,000, gold....... 630 1888
Feb. 1, 1896
do
do
F. & A.
7
800,000
57
1,000
1865
Warren & Franklin, 1st m ortga ge.........................
May
i , 1890
Raleigh,
N.
C.
M.
&
N.
7
850,000
Western North, Carolina—1st mortgage, coup.......... 130
6
J. & J. N. Y., Central Trust Co. Jan. 1, 1911
2,575,000
1,000
189 1881
Consol mortgage, coup, for $3.425,000..................
Oct.,
1914
A.
6
& 0.
4,110,000
1,000
1884
2d consol, more., coup. ($15,000 p. m .)..................
A. & O. Philadelphia, Penn. RR. April 1, 18# 3
6
800,000
57 1863 500 &c.
Western Pennsylvania—1st mortgage........................
Jan.
1,
1896
J. & J.
do
do
6
1,000,000
28 1865 100 &o.
1st mortgage, Pittsburg Branch.............................
June 1, 1923
do
do
J. & D.
5
2,500.000
1,000
1883
Registered bonds........................................................
1,300,000
65
White Water—Stock ($325,000 of it pref.)...............
Oct. 1, ¿926
5 g. A. T o . New York, 2 Wall St.
2,788,000
1,000
Wheeling A Lake E rie—1st M., gold ($3,000,000).. 186 1886
J u ly ,1887
Baltimore.
J. & J.
3
960,000
Wilmington Columbia A Augusta—S tock ................. 227
June, 1910
N.
Y.
and
Baltimore.
&
D.
J.
6
1,600.000
1880
1st mortgage...............................................................
1,278.050
87
Wilmington A Northern—Stock,............................—
Jan. 15, 1887
J. & D.
” 4"
ioo 2,500,000
Wilmington A Weldon—Stock................ .................... 222
1896
936,000
7 g. J. & J. N. Y. ,Bost. ,Lond. .Frank •
Sinking fund bonds, gold ..........................................
1935
N.
Y.
&
London.
&
J.
J.
5
1,336,000
1885
Gen. mortgage for $4,000,000 ..............- - - - - 5
(Î)
Wisconsin Cent. Co.—1st mort. (for $12,000,000)...
....
0)
Income bonds, non cum (for $3,000,000).......... -N. Y., 36 Wall st.
5 p. ct. yearly
M. ~ N .
___
5
360,000
Wisconsin Central—Consol, mort., land grant, pref. 326 1879
1909
do
J. & J.
5
3,800,000
1st series..................................................................... 326 1879
1909
do
&
J.
J.
5,700,000
7
326
1879
2d series, income (not cumulative).........................
1914
N.Y.,Farmers’
L.&T.Co.
jvr. & N.
6
2,600,000
1,000
Mort. Minn. St. Croix & Wis. R R ............................. 104 1884
1937
M. & s.
5
1.500,000
50 1837
....
Penokee RR.—1st m ort........... .................................
W e st Jersey & A tla n tic .—Newfleld, N. J., to Atlantic City, N .J.
34 miles; Pleasantville & Ocean City RR., 7 miles; total, 41 miles
Opened June 17, 1880, and operated by West Jersey Railroad on a
oint traffic agreement and 25 per cent of gross receipts on West
Tersey 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 1884 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 1 5 ,1886, three December, 1886,2^ March,
1887, and
September 15,1887.
W e s t Shore.—Line of road from Weehawken, N. J., opposite N. Y.
City, to Buffalo, N.Y., with branches to Albany City and Rochester City,
about 448 miles in all. This company was organized in December. 1885.
as successor to the N. Y. West Shore & Buffalo, sold in foreclosure.
Immediately on its organization the new West Shore Company issued
$10,000,000 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
York Central Company for 475 years was executed in compliance with
the plan of reorganization. The $10,000,000 of stock is owned by
the New York Central Company in consideration of that company’s
guarantee of the principal and interest of the $5 o,000,000 of new bonds.
The mortgage is made to the Union Trust Co., as trustee, and coders
the line of road. Weehawken to Buffalo with branches, 448 miles in all,
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. &
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.
W e st V a . Central & P ittsbu rg —A coal and railroad company in
West Virginia in the upper Potomac region—the Elk Garden Coal Field.
November, 1884, in operation from Piedmont, W. Va., to Davis, W. Va.,
58 miles; 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,
ahd has mineral rights on 5,407 acres more. In 188P, net from coal,
$34,031; from railroad, $52,329; miscellaneous, $834; total, $87,244;
interest, $66,000; surplus, $21,244. In 1885, net profits on coai sales,
$48,872; net from railroad, $34,053; total revenue, $82,925; interest
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. Bamum,
and others, directors.
W e ste rn A la b a m a .—Line op Road—Selma to Opelika, Ala., 116
miles; branches, Opelika to West Point, 22 miles; total, 138 miles, of
which 50 miles is leased to Louisville & Nashville for $52,000 per
annum. Was a consolidation in 1870 of Montgomery & West Point and
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 are also $32,000 second mortgage 8s of Mont
gomery & West Point RR. due May 1, 1888. In year ending Aug. 31,
1887. gross earnings were $462,529; nee, $163,911; surplus over in
terest, $40,471. In 1885-86 gross earnings were $465,235; net, $165,160; deficit under interest and l 1» per cent dividend, $3,280.
W e ste rn & A tla n tic .—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. See V. 45, p. 85.
W e ste rn M a ry la n d .—Line of R oad—Baltimore to Williamsport,
Md., 90 miles; Emmitsburg Branch, 7 miles; Edgemont to Shippensburg, Pa., 34 miles; total, 131 miles. 1 he Baltimore & Harrisburg,
leased in Nor., 1886, comprised 731a miles. The capital stock is $683,7du. Tne* company was largely assisted by the city- of Baltimore, and
was unable to pav 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, all the said bonds were retired.
The Baltimore & Harrisburg RR. was formed by consolidation of
several small roads in 1886 and leased to the Western Maryland, which
also owns a large amount of the stock; of the issue of $690,000 bonds,
$415.000 are leld in trust to pay off prior mortgages The Western
Maryland operations for four years have been as follows:
Net
Passenger
Freight
Gross
Mileage.
Mileage. Earnings. Earnings.
Miles.
$254,175
16,201,680
12,876,711
$654,163
188283.....131
258,245
665,995
16,512,178 13,114,956
188384.....131
232,135
619,217
14,602,158 11,670,486
188485.....131
239,137
617,561
15,916,659 10,878,194
1885 86 . . . .......131
—(V. 43, p. 369, 432, 636, 6 7 0 , 738.)
W e s t e r n N e w Y o r k & P e n n s y l v a n ia .—(See Map) - Owns : Bufalo Division—Buffalo, N. Y „ to Emporium, Pa., 121 miles., Larabees,
Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y., to Oil
City, Pa., 133 ; Titusville, Pa., to Pioneer. Pa., 9 ; Mayville, N. Y.,
to Chautauqua, N. Y., 3 ^ ; Oil City to New Castle, Pa., 86 ; Tryonville
to Union City, 16 miles. Rochester Division—Rochester, N. Y., to Hins
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26 ; Eldred to Tarport, 18 miles ; Genessee Valley Ter. RR.,
J
2 miles; total operated, 663 miles, of which 40 miles are leased. Th»
Swain’s Branch, owned 11 miles, is leased to L. & P. RR.
This company was organized Nov. 22,1887, as successor to the Buf
falo New York & Philadelphia (a consolidation of 1883), which became
embarrassed in 1884 and was sold in foreclosure Sept. 15,1887. The
plan of reorganization dated Feb., 1886 (see V. 42, p. 242), provided
that there should be issued $ 10,000,000 first mortgage bonds for the
several issues of old first mortgages and the B. N. Y. & P. 2d mortgage,
the balance for reorganization expenses and for future use. Of the
underlying $6,073,000 bonds of the old company which were to be so
provided for out of the $ 10,000,000 new first mortgage bonds, all but
$800,000 Warren & Franklin bonds are retired. Tuere 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
lien on the railroad and first “ on terminals, coal and equipment, subject
to lease of terminals and equipment to 1st mortgj., if foreclosed.” Till
Jan., 1893, they bear interest at the rate of 3 percent, but till 1893
interest may be paid wholly or partly in scrip on a graded higher rate,
and if paid ail in scrip the rate is 5 per cen t; after 1898 the rate is 4 per
cent. The scrip issued for interest hears 5 per cent interest, non-oumulative, payable only if earned, is secured by the coupons placed in trust
therefor, and is exchangeable by the company for debentures with like
security. Trustees of 1st mort. are Carl Schurz and I. N. Seligman.
In the year ending Sept. 31,1887, gross earnings were $2.716,388,
against $2,624,069 in 1836; net. $485,052, against $575,227. Of the
$485,052 net earnings shown for the last fiscal year, $475,542 were
earned in the last 7 months. Gross for Oct., 1837, $257,000, against
$227,384 in 1886.
A
.
- '__
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.
Receipts—
1883-84.
1884--<5.
$2,568,217
Gross earnings______________ $2,614,774
$2,335,514
$373,007
Net earnings............................. $526,933
$154,®47
55,853
Rentals anaintereat............
42,300
57,924
$569,233
$512,771
$423,860
InterastTnTond^pd. & unpd. $1,275,935
Other interest, &c.............
130,751
$1,413.500
342,783
$1,410,380
206,234
Total income.....................
Total disbursements........ $1,406,686
$ l,7 £ 6,283
$1,616,614
Balance............................
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. 8 9 , 184, 210, 276. 433, 551, 652, 654, 681, 781, 807; V. 45, p. 142,
271, 272, 369, 400, 573, 641.)
W estern N orth C aro lin a.—(See map o f Richmond A Dan
ville.)—Owns from Salisbury, N. C., to Paint Rock, Tennessee
State line, 190 miles; Asheville to Jarretts, 100 miles; total,
290 miles.
The road was financially embarrassed, and was
urchased April 17, 1875, by commissioners for the State of North
arolina, and subsequently finished by the Richmond & West Point Ter
minal Railway & Warehouse Co. In May, 1886, it was leased to the R.
& D. Company. In 1885-86 gross earnings, $523,740; net. $85,334;
deficit under charges, $53,340. In 1884-85. gross, $468,507; net, $324,-.
351; deficit under charges, $1,765. Stock. $4,000,000 common and
$4,000,000 pref. The second cons, mortg age for $4,110,000 is held by
the R. & D. Ter. R. & W. Co., and also $1,325,000 of the 1st consols,
given above. $850,000 of same bonds are reserved to retire the lsts.
W e ste rn P e n n sy lv an ia .—The road .runs from Bolivar to Alle
ghany City, Pa., 63^ miles; branch to Butler, Pa., 21 miles; total, 841»
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 Pennsylvania Rail
road, lessee, owns $993,050 stock out of the total amount of $1,022,450
and $288,000 of branch bonds. Gross earnings in 1885, $1,159,514 ;
net, $477,981. Gro3sin 1886, $1,347.565; net, $307,542. In Dec.,
1886, paid 3 p. c. div.
W h it e W a t e r .—Valley Junction, O., to Cambridge City, Ind., 65
miles. This was formerly the White Water Valley, sold in foreclosure
May 2,1878, and reorganized under this title. Gross earnings in 188087, $95,567; deficit, $5,498. Elijah Smith, President.
W h e e lin g & L a k e E rie .— Toledo, 0 .,to Bowerston. O., 174 miles,
and branch to Huron, O., 12 miles. The road was sold in foreclosure
April 23, 1886, and purchased by trustees of the reorganization com
mittee. (See V. 42, p. 537.) New company organized in July, 1886,
with stock of $3,600,000, of wi ich $3,513,400 issued to March 1,1887.
In July, 1887. there was talk of issuing new st0 3k and extending the
road to Wheeling. From Jan. 1 to Aug. 31 in 1*87 (8 mos.) gross earn
ings were $480,250, against $376,092' in 1886: net, $138,017, against
$76,889. Gross earnings in 1886, $588,099; net, $129,113. Geo. J.
Forrest, President, 2 Wall St., N. Y. (V. 43, p. 50; V. 44, p. 118,149;
V. 45, p. 26,83.)
W ilm in g to n C olu m bia & A u g u sta .—Owns from Wilmington,
N.* C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR,
8
118
INTESTOKS’
SUPPLEMENT.
[vol.
CANAL STOCKS AND
N o v e m b e r , 1887. J
BONDS.
n
a
Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f any error discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size or
Amount
Rate per When Where Payable, and by Stocks—LtkSt
of
of
Par
For explanation of column headings, &c., see notes
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Wisconsin <£•Minnesota—1st m ortgage.....................
54
Chic. Wis. & Minn.—1st mort., g o ld .......................
Worcester dt Nashua dt Rochester—S tock ..................
Bonds, mortgage....................................................c*
& Bonds, mortgage....................................................cy
Nashua & Rocli., 1st mortgage............................. o’
r W. N. & R.—Mortgage.......T................................ 0’
Zanesville dt Ohio—1st mort., gold ($25,000 p. mile)
CAN ALS.
Albemarle dt Chesapeake—Mortgage bonds...............
122
94
1st mortgage (extended in 1886)............................
Maryland loan, sinking fund....................................
Guaranteed sterling loan..........................................
Bonds having next preference................................
Delaware Division—1st M. (ext’d 20 yrs. in 1878)
Delaware <6 Hudson—Stock........................................
1st mortgage, registered........................................ Debenture loan of 1894, ooup and reg................
1st M., coup. & reg., on Penn. Div. ($i0,000,000)
Lehiah Coal dt Navigation—Stock...............................
Loan, conv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 4 1a)......................
1st mortgage, registered, railroad..........................
1880
$ ....
48
1873
1875
1874
....
1886
1,000
100
500 &e.
lOOO&c.
500 Ac.
1,000
10Ò &c.
14
14
14
184
184
184
184
60
148
148
....
339
....
....
$310,000
640,000
2,860.000
3,099,800
250,000
400,000
575,000
337,000
(i)
500,000
2,079,213
2,602,950
3,851,593
2,000,000
4,375,000
1,699,500
493.000
800.000
1,000
1858
100 24,500,000
5,549,000
187Ì
1,000
1874
4,829,000
1,000
5,000,000
1877 10Ó0&C.
50 12,676,700
747,000
1869 500 &o.
1864
Var.
5,000,000
Var.
2,000,000
1867
1879
1886
1,000
50
500 &o.
25
500 &c.
500 &c.
500 &c.
7
J. & J. N. York, J. B. Colgate. Jan. 1, 1910
6
3
5
5
5
4
6 g.
M.
J.
A.
F.
A.
J.
F.
& S N. Y o'k, j . B Colgate.
Worcester, Office.
& J
& O. Bost., Globe Nat. Bank.
& A.
do
do
& O.
do
do
& J.
do
do
& A. New Y ork’ Agency.
J. & J. N. Y., Union Trust Co.
J. & D. Philadelphia, Office,
do
do
J. & J.
J. & J.
6
Balt., A. Brown & Sons.
Q -J
5
London.
Q -J .
J. & J. Balt., A. Brown & Sons.
6
6
J. & J. Balt., Farm.& Mooli. Bk,
J. & J. Phila., 226 So. 3d st.
6
1*4 0 —Moh. N. Y., Bk. of Commerce.
do
do
J. & J
7
A. & O. N.Y. Office & Bk.of Com.
7
do
do
M. & S.
7
J. & D. Philadelphia, Office.
2
do
do
M.
&
S.
6 g.
do
do
4*8
Q -J .
Q—F.
do
do
6
7
5
March 1,1916
July 9, 1887 '
April 1, 1893
Feb. 1, 1895
April 1, 1894
Jan. 1, 1906
Feb. 1, 1916
July 1, 1909
July, 1916
1870
1890
1885
1898
July 1, 1896
Sept. 15,1887
1891
1894
Sept. 1, 1917"
Dec. 9, 18871894
July 1, 1914
1897
f t July, 1837, a control of allied roads under one management through
of South Carolina, Lane, 9. C., to Sumter, S. C., 38 miles. Total oper
the newly organized Wisconsin Central Comp m y, and new issue of
ated, 227 miles.
Road was sold in foreclosure, October, 1879, for $860,500, and com securities, was proposed, according to the terns given iu V. 45, p. 54
In V. 44, p. 807, is an abstract of the annual report for 1836. For
pany reorganized under present style.
In June. 1885. the road and property of this company were leased for four years the earnings, &c., were:
99 years to the Wilmington & Weldon, the lessee to pay all interest and
1883.
1884.
1835.
1886.
fixed charges and 6 per cent dividend on the stock, payable semi-annu Gross earnings........... $1,447,798
$1,461,00 4 $1,565,313'
ally in January and July. In 1884-85 net receipts were $212,534; the Operating expenses... 973,732 $1,429,075
957,745
941,881
1,182,080
surplus income over interest and dividends was $8 2,934; in 1*85-86
net receipts were $176,478; surplus $22,872 over interest and dividends.
Net earnings........ $474,065
$471,330
$519,123
$383,233
319,650
310,406
386,550
W ilm in g to n Sc N orth ern .—Owns from Wilmington Del., to Rentals, car serv., &c.. 351,405
Birdsboro, Pa., 64 miles; branches, 24 miles; total owned 87 miles;
Balance ................ $122,660
$151,679
$208,716 del. $3,326
trackage leased, 5 miles; total operated, 92 miles. This company
was organized Jan. 18,1877, as successor to the Wilmington & Reading —(V. 43, p. 48, 309, 432; V. 44, p. 682, 8 0 7 , 899; V. 45, p. 26, 240*
RR. Co., which defaulted on its interest and was sold in foreclosure Deo 573.)
4, 1876. Bonds amounting to $228,700 in small issues were outstand
W isc o n sin Sc M in n eso ta . -Owns from Abbotsford, Wis., to Chip
ing, and a mortgage tor $ 1.000,000 has been authorized to cancel these
and to pay for improvements Gross earnings in 1886, $384,237 ; net pewa Falls, 54 miles. Leases Chic. Wis. & Minn. RR., Schleisingerville».
earnings, $54,272; other receipts $1,680. Paid interest, $12,570; Wis., to Chicago, 122 miles, and branch 8 miles projected. These'
roads form the Chicago division of the Wisconsin Central, and enter
bonds redeemed, $2,400. (V. 45, p. 614.)
Chicago over the Chicago & Great Western.
W ilm in g to n & W e ld o n .—Road extends from Wilmington to
W orcester Sc N ashua Sc R o ch e ste r.—Owns from Worcester to
Weldon, N. C.. 163miles; branch to Tarboro, 17 miles; Scotland Neck Nashua
and Nashua to Rochester, 94 miles. This consolidated company
Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smithformed Deo. 1,1883, by a merger of the Worcester & Nashua and its
field, 22 miles; total, 222 miles; also under construction branoli from was
leased
line,
the Nashua & Rochester.
Wilson to Fayetteville, 70 miles. *Was leased November, 1872, to Wil
In October, 1885, a lease of this property for 50 years, from Jan. 1,
mington Columbia & Augusta Railroad for 99 years. The lessee' made 1886,
was
made
to the Boston & Maine RR. Co. at a rental of $250,000
default December, 1877, and the lease was surrendered April 13,1878. and taxes. A financial
statement of Jan 1,1837 was in V. 44, p. 91.
In June. 1885, this company took a lease for 99 years of the Wilming
ton Columbia & Augusta. (See that company above.)
Zan esville Sc O h io .—Line of road from Zanesville, O., to Harmar,
The fiscal year ends Sept. 30. The income acoount for four years was on the Ohio River, about 80 miles, of which part is yet under construc
as follows:
tion. The whole mortgage is for $2,090,000 bonds authorized. The
INCOM E A CC O U N T.
Mercantile Trust Co. of N. Y. is trustee of the mortgage
sinking fund will come into operation in 1891, bonds being bought
188*-6. inAthe
1884-5.
Receipts—
1882-3.
1883-4.
open market at par and aocrued interest; in lieu of this, funds
$374.100
$373.141
Net earnings.......$195,380
$294,631
are
invested.
103,182
29,937
Other receipts___
26,073
23,942
CAN ALS.
$477.282
$403,078
Total............... $2 6,053
$313,573
A lbem arle Sc C hesapeake.—Canal between Chesapeake Bay
Disbursements —
Interest................ $80,641
$30.698
$79.365
$133,353 and Albemarle Sound, N. O.. 14 miles. Gross earnings 1884-85, $70,Dividends. (0% ) 124,914 (8 %) 166,592 (8 %) 166,592 (8%) 200,000 000; surplus overinterest, $5,000. Pres’t, Marshall Parks, Norfolk, Va.
Chesapeake Sc D ela w a re .—Delaware City to Chesapeake City. Md.
In July, 1886, a heavy defalcation by the Treasurer and an over-issue
of bonds was discovered, amountiog to $609,200, and in Sept., 1*86, it
was proposed by the oompany to retire old bo ids and issue $2,602,950
of new 5 per cen' bonds maturing in 1916, thus covering the over-issue.
W isc o n sin Central C om pany.—(See Map.)— ’ his company was (See Y. 43, p. 367.) In the year ending May 31, 1887, gross receipts
organized in 1887 to control the operations of the Wisconsin Central were $199,212 and net $145,184; surplus, $14,805. (V. 43, p. 22, 49»
audits allied liues under one management. The roids thus controlled 367; Y. 45, p. 52.)
would be as follows: Wisconsin Central, 314 miles; Milwaukee &
Lake Winnebago, 65 miles; Penokee, 50 miles; Wisconsin & Minne
Chesapeake Sc O h io.—This oompany was assisted with loans by the
sota, 54 miles; Chicago Wis. & Minn., 122 miles; Pack. & Mon- State of Maryland. It has long been unable to meet its interest. In a
tello, 7 miles; Minnesota St. Croix & Wisconsin, 110 miles; total, 752 suit against the company the Court (January. 1881) deolined to appoint a
miles. This company proposed to purchase, so far as possible, the secu receiver, but ordered the company to report at stated times its receipts
rities of the Wisconsin Central, Wisconsin & Minnesota, Penokee. and and payments. In 1885, gross earnings were $135,929; expenses»
Minnesota St. Croix & Wisconsin railroad companies. Against the $184,667. In 1886, gross earnings were $94,138; expenses, $223,415.
above miles of road, it issues its securities as follow s: First mortgage
bonds, $12,000.000 at 5 per cent; income bonds, $9,000,000 at 5 per
D elaw are D iv isio n .—Leased to Lehigh Coal & Navigation Co. at
cent, uon-cumulative; preferred stock, $3,000,000 at 6 per cent, cumu interest on bonds and 4 per cent a year on stook. 29,663 shares have
lative; common stook, $12,000,000. It offered to the Wisconsin Cen been converted into Lehigh Coal & Navigation stock, leaving only
tral Railroad owners to exchange their bonds and stock on the terms 3,004 shares unconverted.
stated in V. 45, p. 24.
D ela w a re Sc H u d so n .—The Delaware & Hudson Canal Co was
W isc o n sin Central R a ilro a d .—Owned on Deo. 31, 1886, the chartered April 7,1823, and the canal from Rondout, N. Y., to Honesdale,
Pa., was completed in 1828. The company owns the following
main line and branches Menasha, to Ashland, 253 m.; Stevens Point
to Portage City, 71 m ; branches and spurs, 25 m.; total owned. 349 m. railroads, viz; Lackawanna & Susquehannah, Nineveh, N. Y., to Jeffer
son
Junction,
Pa., 22 miles; Valley RR., Carbondale to Scranton, Pa.,
Leased: from Neenah to Schleisingerville, 64 miles; Packwaukee to
Hontello, 7 miles; operated under contract, Milwaukee to Sohleisin- 17 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 miles; Ply
mouth
&
Wilkesbaire
RR. and bridge, 3 miles; Gravity RR., Olyphant
gerville, 33 miles. Total operated, 450 miles.
In January, 1879, the Wisconsin Central Road was taken possession of to Honesdale, 56 miles; total owned, 114 miles; track of Jefferson RR.
used
by
contract,
35
miles;
total operated in Pennsylvania, 150 miles.
by the trustees for bondholders, who still operate it. There was a
land grant of 831,700 acres, of which 177,816 acres had been sold to This company is among the largest miners and carriers of anthracite coal,
The
stock
was
increased
to
$30,000,000 to pay off the bonds due in
Deo. 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 1884 and 1891. The remaining $5,500,000 in treasury will be issued in
1891,
to
take
up
an
equal
amount
of 7 per cent bonds. To shareholders of
ayable J. and J., but dependent each time on the net earnings of the
alf year ending six months before. The stook of $2,000,000 preferred May 24, 1883, there was allotted 35,000 shares to be paid for at par.
and $9,435,500 common was deposited in trust with Stewart and Abbot, To shareholders of Oct, 1, ’86, there were allotted 10,000 shares.
The annual report for 1886 in V. 44, p. 243, had the following:
Trustees, to be voted on until all interest should be earned and paid on
The President, in conmentiug upon the result of operations in 1886,
bonds- Trustees’ certificates for new stock (without voting power) have
which showed a trifle over 5 per cent on the stook, says: “ This result;
been issued to the old stockholders, which pass as a delivery on sales.
The Milwaukee & Lake Winnebago RR., from Neenah to Schleisinger is better than could have been reasonably anticipated, considering the
ville, is leased for 99 years; the rental is 37*2 per cent of gross earnings very low prioe at which coal ruled for the larger part of the year, and
up to $175,000 per year, all surplus to go equally to lessor and lessee, could only have been reached by the exercise of strict economy in the
and the bonds are issued subject to this lease. From Milwaukee this various »ranches of the company’s service. A very marked improve
company makes use of Chic. Mil. & St. Paul tracks 24 miles; an extension ment also in the business of the leased lines has aided the general out-,
from Schleisingerville to Chicago, 116 miles, is known as the Chic. Wis. & come, and the loss of $313,329 on these roads as reported for 1885 has
Minn., and is a close connecting line of the Wis. Central, though the latter been reduced during the past year to the comparatively small sum o f
$21,694.
is not responsible for its obligations.
Total.............. $205,585
Balance, surplus. $10,468
- (V . 43, p. 636.)
$247,290
$71,283
$245,957
$157,121
$338,353
$138,929
ZNTESTOÜS’
130
SUPPLEMENT.
[V o l . XLV,
Subscribers w ill confer a great favor by g iv in g im m ediatejn otice o f [any error discovered in these T ables.
Bond«—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Par Outstanding Rate per
of
ffor explanation of column headings, <fcc., see notes of
Dividend.
Whom.
Payable
Cent.
Value.
Canal.
Bonds
on first page of tables.
Lthiah Goal & Navigation—(Continued)— _
Mort. loan. g. ($2,810,000 assumed by other co’s.'
Consolidated mortgage lo a n .... . . . . . . . . . . . . . . . . . . .
Greenwood 2d mortgage, reg. Extended, 1877..
General mortgage......................................................
Harris—Stock, consolidated....................................
Pref rred stock........ - -- -- - -- - - ..............................
New mortgage (for $1,000,000)..............................
Preferred stock scrip dividend...............................
Pennsylvania/—Stock................. .................... --- —
General mortg., interest guar*d by Penn. R R —
Schuylkill Navigation—Stock, common....................
1st mortgage, extended............................... - ...........
2d mortgage....................................... .......................
Mortgage bonds, coup, (payable by P. & R .) ........
Improvement bonds.....................- -- -- - - ..................
Boat and car loan, (payble by P. & R .)..................
Boat and car loan ( do
do ) ..................
Susquehanna—Maryland loan, 2d mortgage............
Susquehanna Canal, common bonds, 3d mort.......
do
pref. bonds, 1st mort............
do
pref., 1st T. W. priority b’ds.
do
bonds of 1872,4th mort........
Comparative statistics for four years :
PROFIT AND LOSS.
103
103
103
326
326
108
1867 $500&o. $1,653,000
2.465.000
1,000
1871
643.000
1,000
1872
2.035.000
1,000
1884
1.025.000
100
1.174.000
100
1,000,000
76-’ 85 1,000
103,164
various.
1869
4,501,200
50
2.934.000
1,000
1870
684,912
50
3,288,050
50
1,691,730
1,000
3,990,392
1,000
1.200.000
228.000
1,000
1870
756,650
1,000
1863
628,100
1,000
1864
1,000,000
1839
1,326,000
1,000
1859
227,500
500
1884
97,810
500
1884
250,000
1,000
1872
6 g7
7
413
2
5
7
7
"6
35c.
70c.
6
6
6
6
6
7
6
6
6
6
7
J. & D. Philadelphia, Office,
do
do
J. & D.
P. & A.
do
do
do
do
Q .-F .
F. <fc A. Leh. Val. RR. Co., Phila
F. & A.
do
do
do
do
A. & O.
F. & A.
do
do
1897
June 1,1911
1892
1924
Aug. 7, 1887
Aug. 7, 1887
April 1,1906
Feb., 1889
J. & J. Phila., 233 So. 4th St.
Philadelphia, Office,
do
do
Q .-M .
do
do
do
do
J. «Ss J
J. & J.
do
do
M. «Ss N,
do
do
M. «Ss N,
do
do
M. «Ss N,
do
do
Phila. and Baltimore,
do
do
do
do
do
do
do
do
July, 1910
Feb. 15,1884
Feb. 15,1884
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902
1884.
1886.
Disbursements—
1885.
$59,454
General and legal expenses...............
$58,460
$53,943
Rent and taxes Nesquehoning Val.RR
97,050
73,081
75,526
1886 0 Rent and taxes Delaware Div. Canal
69,921
61,965
39,581
80,039
89,739
Taxes.....................................................
80,078
7,399,095 | Interest account...................................
844,692
854,069
844,488
58,410
$1,159,578 $1,119,027 $1,108,486
633,867
$888,973 $865,649 $620,021
332,65>
$89,419
$80,717
$93,558
841,66- Less sink. fd. of 10 p. o. p. ton on coal
86,869
76,026
............ Less depreo’n on coal, impr’v’m’ts,<&c.
1885.
1884.
1883.
$
Receipts—
JB
9,575,362 8,213,157 7,201,049
Bales or co a l....................
54,551
47,240
Canal tolls..........................
52,403
486,929 ) 792,716
287,038
Miscellaneous profits........
284,464 5
Interest on investments.. .
257,541
649,905
892,804
Coal on hand (Dec. 3 1 )....
745,436
694,941
830,542
Railroad earnings in Penn.
888,559
Profit on leased lines.......
1,905
............
............
T ota l.............................. 11,808,244 10,755,136 9,3«3,162 9,265,687
$156,743 $180,427.
$39,419
Disourscments—
$
$
$ ___
„
$732,230 $685,222 $530,602
492,924
745,436 892,804
649,905 Balance to credit of div’d fd. Jan. ! . .
Coal on hand Jan. 1..........
665,934
679,936
683,843
Mining coal........................ 4,996,195 4,549,480 3,975,297 4,239,907
Coal transportation, «fee...
811,873
557,500 592,803
873,517
$1,398,164
$1,365,158
$1,214,445
826,987 767,151
Canal freight and expenses 1,642,844 1,455,805
, $718,228 $681,315 $570,408
Interest..!.......... ................ 1,321,941 1,198,885 1,082,768 1,069,067 Rate of dividend.
6
6
522,777 468,929
Taxes and niiscellaneous.
546,624 585,446
313,330
21,695
174,490
LoBs on leased railroads............. - .......
1,186,396 1,175,485 Balance to credit of div’d fund Dee.31 $679,936 $683,843 $644,037
Balance............................... 1.995,843 1.488,094________________
Total...................
11,808,244 10,755,136 «,393,162 9,265,687
The annual report for 1886 in Chronicle , V. 44, p. 274, said:
The earnings of the Lehigh <fe Susquehanna RR. system increased
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
$78,304
06, and were larger than in any year before, with the exception
1886
1885.
1883.
1884.
of
1833. The chief gain was in freight and express earnings, and, while
$
$
Assets—
$
$
the system of rai roads does not extend beyond Scranton, w* have been
Ço-tial................................... 6,339,210 6,339,210 6,339,210 6,339,210 able
get an increasing amount of Northern and Western business, as
Railroad and equipment.. 6,957,188 6,468,684 7,134,018 7,257,329 well to
as to share in the increased volumewof local freight traffio. so that
Reid estate......................... 9,035,163 9,325,365 9,628,325 9,725,394 notwithstand
the steady decrease of freight rates for some years, our
Mines and fixtures............ 2,796,329 2,792,417 2,795,576 2,792,511 earnings from ng
this source have largely increased, having average! in
934,856 1,007,821
Coal-yard, barges, «fee........
670,678
790,779
the
four
years
1875
1878 $278,324 09, in the four years 1879 to 1882,
Lack. & Susquehanna RR. 1,022,938 1,022,938 1,022,938 1,022,938 $498,708 08, and in to
the four years 1833 to 1836, $729,579 51. The coal
Albany <fe Susq. R R ........
520,164
............
tonnage
also
increased,
with the exception of that of the year
New York <&Canada R R .. 3,597,074 3,597,074 3,597,074 3,597,074 1883, the largest that hasbeing,
ever p issed over the road, and only falling
300,000 300,000
Cherry Val. <fe Sharon RR.
300,000
300,000
3,994
tons
below
that
of
1883.
Our to al revenue for 1886 was $1,728,59,972
59,131
Meehan. <feFt. Edward RR
52,113
51,929
212,993 507, a decrease since last year of $253,168, which is more than ac
211,765
gehen. <fe Meohan. R R .......
211,280
211,527
counted
for
by
the
lessened
profit
on coal, which was $261,003. The
332,652
649,905
Coal on hand Dec. 31.......
745,436
892,804
861,729 disbursemen’ s show a decrease of $10.540, an 1 the remainder shows a
330,737
Advances to leased lines..
921,663 1,502,789
decrease
of
$245,627.
From
this
remainder
$89,418 has been deducted
756.040
720,055
Advances on coal royalties
648.724
698,125
for the coal sinking fund, an l two dividends, one of two and one-half
Miscellaneous assets........ 3,944,549 3,372,061 2,740,040’"2,586,396 per
cent
and
one
o
f
two
per
cent,
amounting
together
to $570,408, have
43,035
14,735
Telegraph and Car Co___
69,410
43,035
been pai l, which drew on the dividend fund to the extent of $39,806.
Supplies,tools,«fee.,on hand 1,466,143 1,611,254 1,185,028 1,135,412 The
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 ouslywork
through the year, and the r tie of production of our mines can be
Total assets.................. 43,213,038 41,843,804 41,656,642 42,461,213 fully maintained during the coming season. iV. 43, p. 634; V. 44, p.
Liabilities—
$
$
$
$
2 7 4 ; V. 45, p. 113.)
B to ck ....................
20,000,000 23,500,000 23,500,000 24,500,000
Bonds...................................18,763,000 15,378,000 15,378,000 15,378,000
M o rris.—Leased April, 1871, to Lehigh Valley Railroad for 999
Miscellaneous accounts... 2,444,732
778,072
812,002
694,392 years. The lessees assume bonds and scrip, and pay 10 per cent per
Profit and loss.................... 2,005,306 2,187.732 1966,640 1,888,821 annum on pref. stock and 4 per cent on consol, stock.
Total liabilities............43,213,038 41,843,804 41,656,642 42,461,213
P en n sy lv an ia ..—Worked in interest of Pennsylvania RR., which
* These miscellaneous assets include the following: Sundry bonds, guarantees
interest on bonds. Earnings in 1886, $281,385; net, $79,537;
$72,545; 6,500 shares Albany & Susquehanna RR„ $650,000; 16,078 interest, $170,640;
loss, $91,103. Earnings in 1885, $274,207; net,
shares Rensselaer <&Saratoga RR., $1.607,800; sundry stocks, $256,050. $128,765; interest, $175,350;
def., $46,584.
—(V. 43, p. 163, 398, 635; V. 44, p. 184, 2 1 0 , 2i2, 2 4 3 . 335.)
L e h ig h Coal & N av ig a tion .—The Central Railroad of New Jersey
Sch u y lk ill N av ig a tion .—Leased from June 1,1870, to Philadel
assumed (in purchase 01 equipment) $2,310,000 of the gold loan due phia & Reading for 999 years. The unpaid rental by P. & R. to Deo.
1897 and leases the Lehigh & Susquehanna •Railroad. The Lehigh «4 s i, 1886. was $1,287,993. The P. <fc R. has paid some of the cou
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897 pons and purchased others, but in Dec., 1886, interest was not paid,
»-tmI $771,000 (all) of the convertible gol loan due 1894. Bonds matur a n ! in March, 1887, the P. <fc R. threatened to relinquish the canal
ing 1884 were extended till 1914 at 4
The modifications of lea.se and withdraw its boats. By assent of nearly all the holders, an adjust
under the new arrangement with Central of New Jersey are referred to ment of the debt has bean nude under the Pail. <fc R rnding reorganiza
in V. 45, p. 113. The Board of Managers’ re port for 1886 had the follow tion plan. The report for 1886 (V. 44, p. 210) gave a statement of the
ing statement of receipts and disbursements:
company’s relations to the P. & K. company ana a history of its pros
. Receipts—
1884.
1885.
1886.
perity in former years. The loss to the R-ading in 1835-86 was $477,Prom railroads and Nesque. Tunnel. $1,458,200 $1.459,035 $1,464,381 614; loss in 1884-35, $444,292. (V. 44, p. 752, 782, 809; V. 45, p. 143,
Lehigh Canal, inch water powers......
97,969
65,971
50,220 573.)
Delaware Division Canal.....................
58,951
11,038 def. 1,995
Su squ eh an n a.—Leased and operated by Philadelphia <fe Reading
Net profit on Lehigh Coal....................
370,101
396,108 135,104
Railroad for interest on bonds and half of net earnings. Under the
Royalty on coal mined by lessees,
Reading
plan, the stock and bond holders have generally assented to an
revenue from rents, «fee., &e...........
63,330
52,524
80,797
exchange of securities. Loss to Reading in 1885-6, $239,784; loss in
1884-5,
$230,657.
(V. 44, p. 809.)
Total receipts.................................$2,048,551 $1,984,676 $1,728,507
N ovem ber,
1887.]
MISCELLANEOUS
STOCKS
AND
191
BONDS,
i
Subscribers w ill confer a great favor by g iv in g im m ed ia te notice o f an y error discovered In these T a b les.
!Brtad»—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Date Size, or
Amount
Par
Rate per When Where Payable, and by Slocks—Last
of
For explanation of column headings, &o., see notes on
Outstanding
Whom.
Dividend.
Cent. Payable
Bonds Value.
first page of tables.
Adams Express—Stock............................................................
American Bell Telephone—Stock......................... . -.........
Amer. Tel. <t Cable—Stock, guar 5 by West. Union...............
American Coal (Maryland,)—Stock................................ ........
American Cotton Oil Trust—Certificates.......................... .
American Express—Stock............. ..................... ....................
Cameron Iron <&Coal Co..........................................- ..............
Canton Company—Stock(44,300shares»..........................
Central <6 South American Telegraph—Stock.......................
Chartiers Valley Gas—Stock..... ........... .................. - ............
Colorado Coal <£Iron—Stock..................................................
1st consol, mortgage, gold....................................................
Columbus dkHocking Coal <t Iron Co.—Stock.......................
lstM .,g .,s. f’d(on 13,351 acres I’d, mines & b’d’gs)— o '
Commercial Cable—S.ock..................... - ........................ .
Consolidation Coal o f Maryland—Stock............ .................
1st mortgage, consolidated, convertible............................
Consolidated Gas (N.T.)—Stock.............................................
Bonds, Municipal Gaslight Co..............................................
Bonds, Metropolitan Gaslight Co.........................................
Bonds, Knickerbocker Gaslight Co......................................
Cumberland Coal <GIron—Stock ..........................................
Detroit Mack. <&Marquette Land,Co.—Bonds, (income)........
Equitable Gas Light Co.—Stock............................................
Bonds.....................................................
Gold <6 Stock Telegraph-S tock ----------Bonds.......... ...................... - .......... .......
International Ocean Telegraph—Stock.
Iron Steamboat Company—Stock..........
Bonds................... .............................. -
$100 $12,000,000
2
9,802,100
3
14.000.
000
2
1.500.000
25
1
100 4',726.200
18.000.
000 3
100
3.000.
000
100
719,875
16>4
4,006,600
100
ïifl
3.000.
000
100
2>a
10, 000,000
100
3.499.000
1,000
6g.
4.700.000
100
1.000. 000
1,000
6,000,000
75Ö.
Too 10,250,000
6
2,444,500
1,000
2
100 35,430.060
7
291.000
6
658.000
651.000
6
6
500.000
100
7
4.550.000
1,000
3.000.
000 2
100
1.000. 000
000 1*2
Too 5.000.
500.000
6
500
3.000.
000 1*3
2.000.
000 2>a
500.000
6
5Ö0
100
100
1880
1887
1872
1881
1881
A d am s E x p r e s s .—No definite information.
A m erican B e ll T elephone C o.—See report for the year ending
Dec. 31,1836. in C h r o n i c l e , V. 44, p 433. In 1886 paid 16 per cent
dividends, including an extra dividend o: 4 per cent. In 1837 an extra
dividen 1 of 4 per cent was paid Aug. 15. (V. 41, p. 4 3 3 )
A m erican C oal.—There are mortgage bonds for $200,000. The
annual report for 1S86 gave the following information: Income, 1886,
$444,839; total expenses and dividends, $442,857; balance, $1,981.
- ( V . 44, p. 2 7 4 .)
A m erican C otton Oil T r u st.—This is a “ Trust” formed to control a large proportion of the cotton seed oil mills of the United States.
The Board of Management consists of nine trustees, of whom three are
elected each year. The title deeds of the several properties owned are
deposited with the trustees, who issue their trust certificates of $100
each, and these are dealt in at the Exchauges. 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
hand, $757,819. Dividends of 1 per cent quarterly for the ensuing
year were declared, but in Oct., 1887, the company announced that
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.)
A m erican Telegraph & Cable Co.—Owns two cables between
Sennon Cove, England, and Dover Bay, Nova Scotia. The stock of
$20,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar
rangement was made with the other cable companies for 38 years, by
which this company receives 22*3 per cent of combined revenues while
both its cables are working and 12 hi per cent if only one is working,
which percentages hold good for one year after any breaking of the
cables; if not repaired within that time the percentages are reduced
according to the time that the cables remain broken. Then this company’s cables were leased to Western Union for 50 years, with a guar
anty of 5 per cent per annum on the stock issued—$14,00 J,000.
Cam eron Ir o n Sc Coal C o.—This company was organized by let
ters patent of the State of Fa., and filed its certificate Dec. 7, i886.
l i e lands and propeity are near Emporium, Pa., and formerly belong -d
to the Cameron Coal Co. Nicholas C. Miller, President, N. Y. See V.
44, p. 117,149,184.
Canton C om pany (B a lt.)—The capital stock, by changes made
subsequent to the original issue, became practically only $16 25 par
per snare, and was reduced by purchase and cancellation to 44,300
•hares. A brief history of the company was given in V. 30, p. 117. The
company owned the stock of the Union RR. Co. and guaranteed its bonds,
but sold this stock ($600,000) to the Northern Central RR. in April.
1882, for $594,000. The Union RR. sinking fund of $689,885 remained
the property of Canton Co., but is held by the trustees till bonds have
teen paid off at maturity. The last of Canton Co. bonds were paid
July, 1886.
Central Sc South A m . T eleg ra p h .—Line from Vera Cruz, Mexico,
to Chorrillos, Peru, with branches, 3 ,10O miles of cable and 335 miles of
land lines. Completed November, 1882. Connects at Lima with West
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
bonds. Surplus revenue Dec. 31, 1886, after providing for dividend,
$154,179. James A. Scrymser, Pres’t, N. Y. (V. 44, p. 2 74.)
C hartiers V alley Gas Co.—This company owns upwards of
20,00 j acres of lauds in the counties of Allegheny, Washington and
Westmoreland, Pa., for production of natural gas, and supplies the gas
in Pittsburg and Alleghany cities. See full statement in V. 44, p.
552. Jas. A. Chambers, Pres’t; John H. Dalzell, Treas., Pittsburg. Pa.
—(Vol. 44, p. 4 0 0 )
Colorado Coal Sc I r o n .—This company, with headquarters at Col
orado Springs, Col., was a consolidation Dec. 13,1879, of the Central
Colorado Improvement Co., the Colorado Coal Vk Steel Works and the
Boulnem Colorado Coal & Iron Co. Stock is non-assessable. In Nov.,
1887, a decision in regard to oertain land titles was m a le in favor of
this Co.
An abstract of the report of 1886 was in V. 44, p. 400, showing gross
earnings and net income as below stated.
------------1885.----------- . .----------1 8 8 6 .-----------,
Gross
Net
Gross
Net
Earnings. Earnings. ' Earnings. Earnings.
Coal department.
$757,460 $134,030) $1,197,2*0 $285,400
Coke department............ 322,427
110,077j
Iron and steel dep’t .. ... 562,236 loss26,427
690,086
654,346
Iron mines dep’t.............
7,937 loss.2,096
. . . . ___
loss.976
Real estate dep’t.............
24,651
7,059
24,953
8,308
Miscellaneous earn’gs—
4,729
4,729
5,140
5,140
Totals..........................$1,679,440 $227,373
$1,917,449
$333,611
IN CO M E AC C O U N T .
Net earnings.............................................................
Add income from investments, & c......................
Total................................................... „ .........
1885.
1886.
$227,373 $333,611
10,743
8,650
$238,116 $342,261
Q .-M . N. Y., Company’s Office.
Q .-J . Boston. Compy’s Office.
Q .-M . N. Y., West. Union Tel.
N. Y., 1 Broadway.
Q -F .
New York Office.
J. & J. N. Y., Company’s Office.
Q .-J .
Q .-J .
New York Office.
Pittsburg.
Dec. 1, 1887
Oot. 15, 1887
Sept. I, 1887
Mar. 10, 1887
Aug. 1. 1887
July 1,1887
Oot“.' Í887
Oct. 27,1887
F. & A. N.Y., Company’s Office. Feb. 1, 190«
J. &“ J. N. Y., Central Trust Co.
Jan. 1,1917
••
•
•
J. & J.
M. & N.
F. & A.
J. & D.
A. & O.
A. 3c O.
Q.—J.
N.Y., Co.’s Office, 71 B’y
do
do
N.Y., Office,4 Irving PI.
Farmers’ Loan & Tr. Co.
do
do
N. Y., Company’s Office.
N. Y., 19 Courtland St.
N. Y , Metrop. Nat. Bk.
New York Office.
N. Y., Mercantile Tr. Co.
N. Y., West. Union Tel.
do
do
5*. Y./W est. Union Tel
Jan. 23, 1887
J a n .1, 1897
June 15,1887
May 1, 1888
Aug. 1, 1901
June 1, 1898
(»)
Oot. 1, 1911
Oct. 15, 1887
Oct., 1887
May I, 1895
Oot., 1887
Nov. 1, 1887
J. & J. N. Y., First Nat. Bank. July 1, 1901
Q .-J .
M. & N.
Q .-J .
1885.
1886.
$ 299,940 $209,940
2,432
.........
$212,s7z $209,940
Surplus.................. ................... ..................... sur.$25,744 $132,321
$106,577
Increase in 1886 over 1885 .............................
Royalties earned, included in oper. expenses . . .
$64,840
$60,657
In the real estate department the earnings are wholly from rentals of
houses, lands, &e., containing no receipts from land sales. (V. 44, p
40 0.)
C olu m bu s Sc H o c k in g Coal A Ir o n Co.—The company was
organized at Columbus, O., Jan. 26,1883, and its general ofiioes are at
Columbus, O.; Mr. Percival Farquhar, President. The N.Y. office is at 1«
W a l 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 sink ng fund. Bonds tendered may he purchased at
not above 105. The company owns large coal and iron properties, with
extensive works thereon, in Ohio, and a full description of these was
published in the C h r o n i c l e of Feb. 26,1887, V. 44, p. 278. The total
property and assets on Jan. 1, ’87, as per balance sheet, were $5,657,535.
The gross earuings. operating expenses and net earnings of the com
pany from March 1,1883, to April 1, 1887, were as follow s:
Gross earn’gs. Oper. Exp. Net earn’gs.
Date.
$
$
$
March 1, >83, to April 1, ’84.. 1,667,282 10 1,527,747 79 139,534 3 i
April 1 ,’ 84. to April
1 ,’8 5 .. 8 >0,564 90 700,04191
100,542 96
April 1, ’ 35, to April
1, ’86.. 1,220,924 371,060,50588 160,418 49
April 1 , ’86, to April
1 ,’ 87.. 1,441,293 00 1,278,07500
164,220 0
- ( V . 44, p. 278, 553.)
C om m ercial Cable C o .—Tiiis is popularly known as the Mackay
Bennett Cable Co. In September, 1887, the stock was raised from
$4,000,000 to $6,030,000.
Consolidated Gas o f N ew Y o r k .—This company was organized
Nov. 11,1884, uuder chapter 367, laws of New York, 1884. The 00mnanies merge! in it were the New York Gaslight, the Municipal Gas*
light.the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem
Gaslight The total stock was $39,078,000, of which $3,647,940 was
reserved for working capital and for indebtedness of old companies.
C on solidation C oal.—Annual report for 1886 was in V. 44, p. 210.
The gross receipts from mines, railroads, rents, 1885.
1886.
&c. (incl’g value of st’ok of coal on hand), were. $2,055,313 $2,039,427
Tot. expen’s of every kind (excl. of int. & sink, fd.,
but incl. steel rails & all extraordin’ry outlays). 1,750,772
1,783,442
Net receipts....................................................... $304,54 »
$255,985
The int. and sink. fd. in 1886 took $166,831; balance, surplus, $39,153
Consolidated mortgage bonds are hold to retire old bonds. This com
pany guarantees also 2d mortg. bonds of the Cumberland & Pennsyl
vania, and assumes $135,000 of the Union Mining Co.’s bonds. The
total bonded debt on lands and railroads is $2,417,500. (V. 44, p. 21(h)
D etroit M a ck in ac Ac M arquette L a n d C o .—Owns about
1,100,000 acres of laud in Northern Michigan, along the line o f the D.
M & M. RR., which road was sold in fo eolosure Ooc. 20,1886. This
company was formed, and the land grant bonis retained their lien upon
the lands covered by their mortgage, and are entitled to 35 per cent in
new common stock of the Duluth South Shore & Atlantic RR. Co.
Lands are free from taxation. James McMillan, Detroit, President.
E q u itab le Gas L igh t C o .—Incorporated March 9, 1382. Owns
three blocks between 39th and 42d Sts., First Ave. and East R iver; also
32 lots between 58th and 59th Sts and 10th and 11th Aves Total assets,
Jan. 1,1887, $5,128,242; mains about 79 miles; gas works valued at
$2,032,520; real estate at $1,159,265. There were also Jan. 1, 1887,
$ 00,0 )0 certificates of indebtedness. Office, 340 Third Ave. R. M. G.
Graham, President.
In tern a tio n a l Ocean Telegraph C o.—The Western Union Co.
operates the line Dy contraot for 99 years from Jan. 1,1882, paying 6
per cent per year on stock.
G old Sc Stock T eleg ra p h C o .—Operated by West. Un. Tel Co. by
contract for 99 years from Jan. 1, ’82, at 6 per cent per annum on stock
and bonds.
Ir o n Steam boat C o.—Property consists of seven iron steamboats.
Bonds and stock listed in June, 1882. Stock, $2,000,000. In year end
ing Sept 30, 1887, gross receipts were $365,858; net, $35,017; divi
dends, 2>g per cent, (V. 43 p. 452; V. 45, p. 642.)
L eh ig h Ac W ilk esb a rre C oal.—This company was organized Feb.
6,1874. It is controlled by the Central RR. of New Jersey through
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 $747,50o bonds due 1894, and $500,000 bonds due 1897,
of the Lehigh Coal & Nav. Co. The company was in receiver’s hands
with Central of New Jersey, and 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. 2 74.)
Less interest on bonds...........................................
Lessinterest, discount and exchange.... ..........
INVESTORS’
1 2 «
SUPPLEMENT.
[Y o l . X L V .
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Prim i
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Date Size, or
Amount
Par
Rate pei When Where Payable, and by Stocks—Last
Poe explanation of column headings, &c., see notes on first of
Whom.
Dividend.
Cent. Payable
Bonds Value. Outstanding
page of tables.
Lehigh <t Wilkesbarre Goal—Stock........................................
Sterling loan.................. ....................................... - ..............
Mortgage loans ($110,000 are 7 s )................................ .
Consol, mort. ($6,116,000 of this held by Cent, of N. J.).
Sundry mortgages.................- ...............................................
lne’me bds,reg.(not cum.) $2,353,000 held by Cent. N.J.
Marivosa Land <6Mining—Stock............................................
Preferred stock.......................................................................
Mortgage bonds......................................................................
Maryland Coal—Stock..............................................................
Bond.........................................................................................
Mexican Telegraph—S to ck .....................................................
yew Central Coal—Stock..........................................................
if. Y. Mutual Telegraph—Stock, guaranteed 6 per cent —
1st mortgage bonds, gold, guar, by West. U nion.............
New York <6 Perry Goal <&Iron Co.—Stock........... .......... .
New York <£■Texas Land <Limited)—Stock..........................
Land scrip receivable 75 per cent for lands.....................
*Northwestern Telegraph—Stock.............................................
Bonds, interest guaranteed.................................................
Oregon Improvement Co.—Stock............................................
Preferred stock ................................................................
1st M., gold. sink, fd., $309,000 held in s. f., but draw mt
Pacific Mail Steamship—Stock..............................................
Pennsylvania Coal—Stock......................................................
¿Philadelphia Company—(Natural Gas) Stock....................
Postal Telegraph dt Gable Co.—Stock ($21,000,000)...........
le t mortgage (for $10,000,000)............. ............................
Poughkeepsie Bridge. —1st mort., gold, for $5,000,000----
1875
1,000
1Ó Ò & C
1875
1881
100
100
1,000
100
1,000
100
100
25
1,000
100
50
” 50
'i'o’o
1880
1886
100
1,000
100
50
50
1,000
$8,700,000
1.725.000
593,211
11,500,000
366,409
3,472,300
10 , 000,000
6
N. Y., 160 Broadway,
6 &7
Q.—M.
do
do
7
do
do
5, 6 & 7
M .& N .
do
do
7
5.000.
250.000
4.400.000
161.000
1,434,400
5.000.
2.500.000
5.000.
3.000.
1.500.000
1,006,* 00
2.500.000
1.180.000
7.000.
000
2 .0 0 0 ,
COO
J. & "j.
New York.
IV
7
2 ht
000 1
3
000 6
000 1
8
000
M. & N. N. Y., 135 Broadway.
Q.- J. N. Y., Company’s Office
New York, Office.
J. & J. N. Y., West. Un. Tel. Co,
M. & N. New York, 1st Nat. Bk
New York.
Q -J .
New York Office,
J. ” &' J.
2¿i« J. & J. N. Y. West. Un. Tel. Co,
do
do
J. & J.
I e-
5.000. 000
I e20 , 000,000
4
5.000. 000
1
7,500,000
7.000.
000
3.000.
000 6
5.000.
000 6 g.
J. & " d .
Q .-F .
Q .-M .
M’thly
qT f .
F. & A.
N.Y., Company’s Office
N. Y., 1 Broadway.
Pittsburg.
N.Y.Am. Exch. Nat. Bk
New York City.
1899
June i, J900
May " l ,‘ 1888
Jan. 1, 1886
Jan. 1, 1876
Nov. 1, 1906
Oct., 1887
M’ch L, 1887
July 1,1887
May 1, 1911
Oct. 31,1887
Aug. 9,1887
J u ly l, 1887
Jan. 1, 1904
Sept. 15, 1883
Dec. 1,
Sept. 15,
Sept.' 1.
Nov. 25,
1910
1887
1887
1887
Aug. 1,1936
M ariposa L a n d A M in in g .—There are outstanding only 15,00 o | P h ila d e lp h ia C om p an y .—The company was incorporated by
a hares, tne balance being owned by company. Litigation has been Id j special act in Pennsylvania, March 20, 1871, as the Empire Contract
Company, and after various changes took the present name June 11,
progress many years and nothing done on the estate.
1884. It has absorbed a number of different companies and controls a
M a ryla n d Coal C o.—No ate reports.
large share of the natural gas production about Pittsburg and vicinity,
ow
uingor leasing in Oct., 1887, 66,318 acres of gas territory and 494
M exican T eleg ra p h .—Company organized in 1878 under laws of
of pipe*. The company began to pay dividends in Oct., 1885, and
New York State. Has a cable from Galveston to Tampico and Vera miles
has
then paid 1 per cent monthly. In September. 1837, the stock
Cruz, 733 miles; land line, Vera Cruz to Mexico City, 267 miles. was since
raised
$1,000,000 to above amount. Geo. Westinghouse, Jr., Presi
Has exclusive right for 50 years for all foreign telegrams to Mexico, dent, Pittsburg.
( Y. 44, p. 744; V. 45, p. 292, 438.)
except telegrams to and from a neutral zone on the United States
border 156 miles wide, between the Gulf and Pacific Ocean. Company
P o sta l T elegraph A Cable—Of the stock $7,000,000 is out
owns l,o62 shares of the Central & South American Telegraph Co. Rev standing, $12,000,000 is held in trust, and balance remains
enues in > 6 , $221.001; expenses, $59,290; dividends, 8 p. c., $ 1 1 4 . lu treasury. Mr. J. W. Mackay is the President.
The name
752; surplus, $46,959; total surplus Dec. 3 1 ,18-i6, $68,745. Capital of the Postal Telegraph Co. was changed November, 1883.
atoeK is $1,500,000. Jas. A. Sorymser, Prest.. N. Y. (V. 44, p. 2 7 4 .)
(See V. 37, p. 564). The Postal Telegraph Company sold all its
property and franchises to the Postal Telegraph & Cable Co., which was
New Central Coal (M d .)—The annual report for 1886. in V. 44, p. organized under the laws of this State expressly for this purpose.
274, showed net profits for year of $7,818 ; and balance to credit of In May, 1885, receivers were appointed, and a scheme for reorganiza
.profit and loss Dec. 31,1886, of $252,684. (.V. 44, p. 2 7 4 .)
tion of the Postal Telegraph & Cable Co. was proposed, as stated in V.
626, 645, by which the company will have no bonded debt and
N ew York; M u tu a l T eleg ra p h .—The Mutual Union Telegraph 40, p. for
$5,000,000 only. The present bonds will take new stook for
Co. was organized under New York State laws. Stock was $600,000 and stock
35
per
of their face, and the old stock will receive 5 per cent of Its
afterward Increased to $10,000,000. In Feb., 1883, a lease to Western amountcent
new. Foreclosure suit begun by Farmers’ Loan & Trust
Union for 99 years was agreed to at 1*3 per cent yearly dividends on Co* 5iov.,in1885,
and sale took place Jan. 15,1886, for anomiual price of
the stock and interest on the bonds. The organization was changed to $280,000. See V.
42, p. 94. (V. 43, p. 125.)
the New York Mutual Telegraph Company and the stock was reduced to
♦2,500,000, carrying dividends of 6 per cent per annum.
P ou gh k eep sie Bridge C o.—Chartered In 1871 to build a railroad
N. Y , A Perry Coal & Ir o n C o .—This company was organized bridge arross the Hudson River at Poughkeepsie. Active operations to
under the laws oi New York in June, 1885, as a reorganization of the complete the work were begun in 1886, and contract made with Union
ige Co., the bridge to be ready for traffic by Jan. 1,1883. Capital
N. Y. & Stiaitsville Coal & Iron Co., which was foreclosed. The assets, Bri
as per balance sheet on June 20,1887, were $3.476,46-, and stock was stock, $5,00* ,000. (Abstract, of mortgage in Vol. 45, p. 275.) N .Y .
office,
15 Broad Street. (V. 45, p. 401, 473.)
increased to $3,000,000. A full exhibit was published in the Chron
ic l e . (V. 44, p. 744; V. 45, p. 55, 84. Office, 52 Broadway, N. Y. Uty;
P u llm a n Palace Car.—The stock has been increased from time to
•C. R. Griggs, President.
time to provide new oapital. as wanted, since the price, ruling above
N ew Y o r k A T ex a s h a n d —This company took the lands granted par. gave a bonus to stockholders when subscribing for new stock;
to the International and Houston & Great Northern railroads, about an increase of 25 per cent was voted at the meeting iu Oct., 1887, and
.5,000,000 acres, which were given in settlement to the holdeis of con is included in the amount outstanding above.
Fiscal year ends July, 3 1 ; report for 1886-7 was In V. 45, p. 538.
vertible and 2d mort. bonds. June 30,1887, had 2,303,971 acres unsold.
IN C O M E A C C O U N T .
— (V. 44, p. 527.)
1884-85.
1885-86.
Revenue—
1886-87.
N orth w estern T eleg ra p h .—This company owns 8,000 miles of
$
$
$
-wiro and is leased to Western Union for 99 years, with guaranteed divi
5,075,383
Earnings
(leased
lines
included)........
4,946,151
5,621,018
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in
548,129
819,914
Patent
royalties,
manuf.
profits,
&c..
667,477
1897 and afterward. The bond interest is guaranteed.
Oregon Im p ro vem en t C o.—This company owns $3,000,000 stock
Total revenue................................ 5,613,628 5,623,512 6,440,932
of Hie Seattle Coal & Transp. Co.; $575,000 stock of the Columbia &
Disbursements—
Puget Sound RR.; $1,969,900 stock of the Pacific Coast S. S. Co.; Operating expenses, including legal,
Floating debt Kov. 30, 1886, $703,230, and assets $685,219. The
general taxes and insurance (leased
¿2,000,000 pref. stock to pay for improvements, &c , was issued June,
lines included)................................... 1,949,655 2,057,627 2,224,807
1887. (See V. 44, p. 654). For year ending Nov. 30, 1886, gross earn Paid other sleeping-car associations
ings, $2,934,818; net. $726,003. From Deo. 1, 1836, to Sept. 30 in
802,176
969,896
controlled ana operated....................
708,005
1887 (1C mos.). gross earnings were $3.235,901, against $2,355,835 in Rentals of leased lines.........................
66,000
66,000
162,529
159,150
1885-6 ; net, $8o9,455, against $578,459. (V. 43, p. 49,191, 3 0 8 , 459, Coupon Interest on b o n d s ..................
171,453
168,050
i579,746; V. 44; p. 91, 212, 654, 752 ,8 0 9 ; V. 45, p. 53, 84, 211, 369, Dividends on capital stock................. 1,273,962 1,274,028 1,274,176
210,018
Repairs of oars in excess of mileage..
509.)
100,000
100,000
P a c if ic M a ll Stea m w hip.—The Pacific Railroads gave to the steam Contingency account............................
ship company a monthly subsidy of $85,000 per month—this agree
4,365,604 4,467,881 4,904,047
Total disbursements,
ment terminable on 30 days’ notice after Nov., 1885, and such notice
1,248,024 1,155,631 1,536,885
w as riven in Feb., 1886, and the agreement stopped. In October, 1887, Net result.......................
Mr. Geo. j. Gould was elected President in place of Mr. Henry Hart.
Q u
@FedFRASER