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OP THE
OMMERCIAL &
f lNAHCIAL
(]|
VOLUME
3SJ-0-V-.
WILLIAM
102
B.
[[
hRONICLE,
LV.
26, 1892.
DANA
&
CO.,
WILLIAM STREET
PUBLISHERS
NEW
YORK.
The Investors' Supplement is issued once in two months, viz., on the last Saturday of
January, March, May, July, September and November, and one copy of each issue is furnished to every subscriber of the
FINANCIAL CHRONICLE, ^o
COMMERCIAL &
upplement are kept on sale either for subscribers of the CHRONICLE
or to others, as only a sufficient number is printed to mail one copy to each regular subsingle copies of this
scriber of the
CHRONICLE.
SubHcrtptlon (o the CIIROIVICLE, incIndinB botb SUPPLEIHEIVTS, is $ilO-00 per year
In the United States and $13'0O in Europe, including poataf^e.
•
[Entered according to Act ot Couktoss ia the year 1892, by
•
Wiluam B. Daka. <& Co., Inofnco of the Libmrian of Conj;re««,
••
•
.
Washington,
C
C.)
JOHN
DAVIS &
BANKERS
H.
CO.,
AND
DEALERS
Members
IN HIGH-CLASS
New York and
of
INVESTHEXT SECURITIES.
Philadelphia Stock Exchanges.
and Chicago.
Buy and Sell Stocks on all Exchanges
carry Stocks and Bonds on margin.
Private
Wires
to Boston, Philadelphia
lO "Wall
ON COMMISSION ONLY,
Stx>eet, JSTe-^u^
VERMILYE &
&
i6
AI>I>
i8 Wall
Sti^eef,
and
"STor-lsi.
CO.,
New
York.
AT THE NEW YORK, PHILADELPHIA AND BOSTON
STOCK EXCHANGES BOVGUT AND SOLD ON COaHWISSION.
SECURITIES LISTED
DEPOSITS
RECEIVED
GOTEENMENT, CITY
J. 8.
AND
INTEREST ALLOTTED ON
DRAFTS AT SIGHT.
BALANCES,
AND RAILROAD BONDS, AND OTHER CHOICE INTESTMEMS,
AND ON HAND FOR IttMEDIATE DELIVERY.
EGBERT
FAKLEE.
J. S.
D.
FOR
SALE
FABLEE.
FARLEE & BROTHER,
NO.
P. O.
SUBJECT TO
WALL STREET,
li
NEW YORK.
Box 1466.
Brokers and Dealers
in
Investment Bonds and
STATE, MUNICIPAL,
S-tocks.
AND APPROTED
RAILROADTO BONDS,
FROM
PAYING
On hand
lor
6
4
Immediate Delivery, suitable
Conservative Investors.
PER CENT,
Savings Banks, Trust Funds and
Correspondence Solicited.
lor
Samuel D. Davis
&
Co.,
BANKERS,
44
WALL
HEBIBERS
Investment
STREET,
N. Y.
N. Y.
STOCK EXCBANOE.
Securities
a
Specialty.
Interest Allowed on Deposits subject to sight draft.
JlHUBI. b. datis,
or \roOD * DATIS.
OSLABLBS B. TAH NOSTRAWB.
other
fnkste' ^ttpkienl
07 THB
Q0MfflERCIAL& flNANCIAL QhRONICLE.
[Kntered accordlner to act of ConKreas, in the year 1S93, by Wnj:,iAM B.
Daka A
Co., In tbe ofllce of the
UbrarlaB of Congresa, Wwhlnxton, D. O.]
NEW YORK, NOVEMBER 26,
most of the
INVESTORS' SUPPLEMENT
and
VOL.
55.
of
—
tions.
J
TERinS OF SUBSCRIPTION:
. .
WILIilAin B.
DANA &
102 William
CO., Pnbllskerii,
Street,
Nem
Tork.
P. O.
perhaps the
fullest,
Box 958.
opera-
gives
the best and the most comprehen-
sive exhibits in that respect of
too, in
traffic
The Lake Shore & Michigan Southern
such a way as to
parisons.
An
—arranged,
any company
permit ready and easy com-
analysis of the traffic
case, moreover,
For One Year
$10 00
For Six Months
6 00
European Subscription (including postage)
12 00
European Subscription Six Months (Including postage)
7 00
Annual Subscription in London (Including postage)
£2 108.
SlxMos.
do
do
do
«1 lOs.
regarding their
statistics
•
oharKC, to all reuular subscribers of the Cdmmkkcial and Finanoiai,
CiiKoNiCLE. No subscriiitions are taken for the Investors' Sdppi.eMENT apart from the Chronicle, and no single copies of the Supplement are sold.
The INVESTOR.S' Supplement contains 160 pages and the State and
City Supplement 130 pages, and both are ^ven to every yearly subscriber of the Chronicle.
Only very few compauies furnish
roads.
full details
The Investors' Sitpplement Is published on the last Satimlay of
every other month viz., January, March, May, July, September and
November, and one copy of each Issue Is furnished, without extra
ed.
1892.
movements
in that
have special value, because the
system may be regarded as a representative one in au
important setjtion of the country we mean the section
comprising the Central or Middle Western States,
where there has been great manufacturing and industrial growth, but where at the same time agriculture is still one of the most prominent pursuits and
the crop yield an important factor in the situation.
There are also other reasons why the road answers well
for purposes of illustration it has been exceedingly
well managed, is so located as to get the benefits of the
growth in both through and local tonnage, is subject
will
—
—
CHEAPENING OF TRANSPORTATION
COST.
In considering the cheapening in the cost of railway
made possible such a
great reduction in rates during the last decade or two,
the factors entering into the matter are found to be
more numerons than a superficial observer might be
inclined to think.
Some of the causes which have con.
tributed to the result are perfectly obvious and will appear on a moment's reflection.
Others lie deeper and
can only be traced through stuly and analysis. These
latter have on the whole played just as prominent a
part in the change that has occurred as those with
which the general public is pretty familiar.
It will be admitted that, other things being the same
a large volume of business can be handled more eco
nomically than a small volume. Hence aa it is known
freight transpoitation, wliich has
to
active competition on the part of competitive
rival lines,
and
average rates
is
obliged to
move
traffic at
and
very low
while at the same time the system has
remained substantially unchanged, though its mileage
has been enlarged to some extent.
As is known, great
;
prosperity has attended the operations of the road in
recent years.
The Lake Shore managers have for many years been
spending large sums of money out of earnings for improvements and additions to the property, absolutely
nothing having been charged to construction and
equipment
account
furnishes one reason
since
1883.
for the
good
measure peculiar and exceptional
That of course
—in
results
large
that circumstance has operated to reduce the average
It is also recognized that a great many improve-
Study
of the traffic statistics reveals others which are common to nearly all roads. Take the growth in traffic
for instance.
In 1891 the Lake Shore handled over
13 million tons of freight in 1889, but two years before, the total was only 10 million tons ; in 1879 it was
ments have been effected
only 7^ million tons;
amount of traffic over all the large systems has
grown enormously in recent years, it is evident that
that the
cost.
properties and
in
in the condition
their operating
of railroad
more powerful locomotives than formerly, larger cars,
bigger trains, better road-bed and tracks, more extensive terminals and more comprehensive facilities generally for
cheap and quick
;
service.
generally recognized or understood
What
is
is
not so
that with the
in 1875 but 5 million tons.
In
growth in the amount of the
tonnage, it is proper to note one other fact
as with
most other roads, the growth has been chiefly in the
local or short-distance freight.
This appears from the
circumstance that while the tonnage in the late year
and also the tons moved one mile was the largest in
the entire history of the company, on the other hand
the average length of haul was decidedly the smallest
ever reached.
This average was 180 --t miles, as
against 187 miles only the y«ar before, and as against
220-6 miles in 1881, 231-7 miles in 1880 and 229-9
and transportation connection with
departments, and that these have made possible economies permitting lower rates. We have heavier and
to this road.
this
:
growth and expansion in the volume of traffic there has
come a change in many instances in the character and
composition of the traffic and also in the direction of
its movements, or rather a change in the relative promiles in 1879.
portions of the
One
gation
movements
in opposite directions.
We next come to a feature which speaks more eloalways encountered in such an investi- quently and with greater emphasis of the way in which
the absence of Bufficient data in the reports the cost of transportatiou baa been cheapened
than any^
difficulty
is
;
INVESTOK8' SUPPLEMENT.
3
thing else.
We have in mind the great
off in 1888, this
increase which has
After having fallen
occurred in the average train-load.
It will
grain
IVOL. LV.
be observed that as against 1,841,120 tons of
in 1879 the quantity moved in 1891 was
moved
average has been steadily rising again only 1,101,546 tons, showing a
ever since, and in 1891 reached almost 274 tons, which
loss of
nearly three-
The tonnage
quarters of a million tons.
in animals
and provisions was also smaller for 1891 than for 1879,
to 1878 the average had never even got as high as 200 and there was likewise a decrease in petroleum, all of
tons, and from 1870 to 1873 it ranged between 133 and these items being grouped under Glass I.
On the
137 tons. That is to say, the average train-load now is other hand, the various items in Class II, which com-
has never been excelled ia the company's history.
Up
double what
it was in the early years of the company's
There can be no doubt that in large measure this increase in the train-load is due to the great
improvements which have been made in the property
and in the conditions of the service, though, as we shall
presently show, there have been some other contributing
causes.
All roads now have larger cars, more powerful
engines, as well as improved road-bed, tracks, &c., so
that the savinga and economies made possible through
that circumstance are not confined to the Lake Shore,
but are shared in by other roads, albeit the most of
these other roads have secured these requisites of modern
railroad service through capital outlays rather than as
with the Lake Shore through appropriations from income. What a saving has been effected through the
increase in the train-load can be judged by a compari-
existence.
son of the late year's
traffic results
with those for
—
million tons to nearly three million tons; the iron ore
from almost nothing to over 1^ million tons ;
&c., from 144,460 to 980,800 tons
merchandise, from 1,049,103 to 1,608,349, tons, &c.
While the total of the articles in Class I tias dropped
from 3,929,887 to 3,111,227 tons, the ag.^regate of the
articles in Class II has jumped from 3,611,407 to
8,907,789 tons. This shows how much less important
the strictly agricultural tonnage is than formerly.
But there has been still another change in the traffic
conditions a chaoge in great measure the result of
one the change just noted in the composition of the freight.
say with 1873.
In that year only
5,176,661 tops were moved, in 1891 12,019,016 tons,
while the tons moved one mile increased from 1,053
of the earlier years
prises articles that reflect the growth of the country
through which the road passes, in population and in
industrial and manufacturing activity, show gains.
In
most cases these gaips are large and striking. Thus
the coal and coke freight has risen from about one
freight
stone,
sand,
—
The items
in Class
I,
representing (with the exception
of petroleum) the products of the
Many
farm, move chiefly
on the other
But with the tonnage and hand, move very largely westward, and the effect of
the tonnage movement both more than doubled, the the very heavy increase in the latter with the decrease
freight train mileage in 1891 was actually less than in in the former has been to equalize more nearly the
1873, the figures being 7,921,041 against 8,026,320. In movements of freight in opposite directions a result
The
other words, on a smaller train-mileage the road now which tends to greater economy in operations.
does two-fold the amount of work it did in 1873. Even difference between 1891 and 1879 in the particular
as compared with the year preceding there was a de- mentioned is brought out in the following.
eastward.
of the items in Class II,
millions to 2,168 millions.
—
crease in the train- mileage in
1891 on an increase in
tonnage and in tons one mile.
But
besides the
improvement
in the conditions of
the service, another factor has been instrumental in
bringing about the increase in train load and diminu-
Tons.
.
,
1891.
1879.
East-bound... 6.650,469 4,943,252
West-bound.... 5,368,547 2,598,042
Excess
1,281,922
In 1879, on a
2,345,210
—
Tons one mile.
1891.
1879.
1,201,287,821 1,197,135,107
.
,
967,439,410
536,288,333
233,848,411
660,846,774
tonnage of about 7^ million tons,
west-bound in
tion in train mileage
namely, the change that has
amount of over 2^ million tons; in 1891, on a tonnage of
occurred in the composition and character of the
freight.
This change has been very decided indeed. 12 millions, the excess was only about 1 ^ million tons. If
we compare the tonnage movement one mile, the change
To show how decided, we have prepared
—
total
the east-bound freight exceeded the
the following
statement, giving the amounts of the leading items of
freight for 1891 as contrasted with corresponding items
is
still
more
striking, for while in 1879 there was
an
excess of 660 million ton-miles of east-bound freight, in
It is of course
take that year because several of the 1891 the excess was but 233 millions.
clear that this equalization of the movement of freight
items of agricultural tonnage attained their maximum
in that year, though the same items were also very tends not only to increase the train-load, but also to
decrease the average cost per unit of traffic, for it costs
large in the year following.
very little more to haul a train back full than to haul
TKATPIC OP LAKE SHORE A MICHrOAN 80UTHEEN.
We
for 1879.
»
'
CLASS I.—
Grain
Other ai?rioultural products...
1891.
Tons
1,101,546
1879.
Tons.
Increase or
Decrease.
Tons.
1,841,120
277,895
436.628
Deo.
Inc.
Dec.
Deo.
Dec.
653,636
105,293
Provisions
511,519
235,432
2,555,643
616,812
286,983
Petroleum
2,698,958
412,269
3,459.438
470,449
Deo.
Dec.
760,480
58,180
Total
3,111,227
3,929,887
Dec.
818,660
2,983,139
1,275,870
910.80
1,053,825
48,376
144.460
198,073
184,493
Inc. 1,929,314
Inc. 1.227,494
Inc. 766,340
Inc.
6,827
Flour,
&o
33f-,32><
462,133
1,902.007
Animals
Class II.—
Coal and coke
Iron ore
Stone, sand,
&o
•
204,900
616,005
903,930
404,796
Iron, pig. c&o
Do. other
Lumber, &o
Manufactures
Merchandise* other
articles..
Total
Grand
total all freight.
Inc.
739,574
60,433
25,505
1,551
431.512
270,209
105.439
559,247
1,608,349
1.049,102
Inc.
Inc.
Inc.
Inc.
8,907,789
3,611.407
Inc.5, 296,382
12,019.016
t.33.721
299.357
7,54i,29i Ino.4,477,7aa
back empty. The very best results as regards trainand average cost would, we need hardly say, be
obtained if the trains could be fully loaded in both
directions, and from this it follows that the more nearly
this condition is approached the greater the advantages
which a road possesses in the conduct of its business.
We may assume that on the systems west of Chicago
the changes are less decided than those here noted for
the Lake Shore.
And yet even in that section the tendency is clearly in the same direction, as was shown
a few months ago in an analysis in the Chronicle of
the Rock Island report for the year ending March 31
1892.
It was found by that analysis that notwithstanding the phenomenal crops of 1891 the gain in tonnage
on that system in the late year had come only to a very
small extent from grain freight in the main it came
from articles and commodities which indicate the
growth and expansion of the western country.
it
loads
;
NOVEMBEE,
INDEX
TOl
INDEX.
1893.]
RAILROAD ^MORTGAG ES.
:
.
I
'
'..
,
. .
Vol. ¥i.QM.
49
546
49
857
55
101
54
244
49
302
49
302
49
303
49
304
49
303
52
205
46
804
51
245
51
246
49
683
49
584
52
976
45
242
51
571
45
402
45
241
45
54
45
55
45
55
49
147
51
144
51
144
45
441
51
911
45
146
45
85
45
213
45
144
45
145
45
85
45
213
45
144
45
212
45
144
45
114
45
114
45
145
45
85
45
114
45
212
45
114
45
145
45
145
48
830
52
465
52
468
47
262
47
260
47
47
45
52
45
51
47
47
52
45
52
45
49
52
49
45
45
49
46
54
51
49
51
51
49
47
45
52
51
51
47
45
47
45
49
52
45
50
54
47
45
50
4t
49
51
51
51
47
51
51
26]
261
574
42
540
572
228
229
354
274
83
440
239
242
532
575
372
237
45
444
114
208
613
248
177
142
243
356
495
495
287
274
83
541
238
84
541
208
204
22
273
279
Jig
540
243
242
243
201
246
247
679
46
47 141-2
45
439
45
275
45
575
49
115
54
163
49
237
45
342
52
54
45
49
49
49
47
47
45
45
53
51
47
Vol. Paob.
40
2T0
49
272
Deb. M. 6s, due July 1,1939
49
273
Detroit & Chicago Exten. Ist M. 6a, due July 1, 1941... 54
1049
Western New York i Penn. 1st M. 58, due Jan. 1, 1937
47
109
2d M., 3 to 4percent, due Oct. 1, 1927
47
110
St Shore Ist M. 48 of 1889, due 2361
178
43
Wisconsin Central Co. & RR. Improv. 5b, due May 1, 1931.. 63
759
Wabash IstM. 58, due May 1, 1939
Wabash 'id M. 5s, due Feb. 1, 1939
Abstracts of leading railroad mortgages published from time
4o time in the Chbonicle are indexed below
Atchison Topeka & Santa Fe. Old mortgages
New coiisol. M. 48, due 1989: new iucomos, due 1989
2d Mortgage, duo July 1, 1989
St. Louis & San Fran, consol. 4s, due Oct. 1, 1990
Atlantic & Pac. RR. 1st Guar. Trust M. 49, due Jan. 1, 1937.
1st M. Western div. 68, duo July 1, 1910
2d M. Western div. tin, due Sept. 1, 1907
Income M. Western div. Oh, due Oct. 1, 1910
Atl. & Pac. K K. 1st M. Central div. 68, due March 1, 1922. .
Salt. Belt Istmort. 58, due 1090
Baltimore & Oliio Consol. M. ,58, due Feb. 1, 1988
Bait. & Ohio Southwestern 1st M. 4123, due Jan. 1,1990
l8t. 2d and 3d income mortgage, due Jan. 1, 1990
Brooklyn Elevated— Un. El. 1st M. 6s of 1887, due 1937
Union Elevated 2d M. of 1887, due 1927
Cambria & Clearlleld 1st M 58, 1891, due 1941
Central RR. &Bk. Co. of Ga. Col. Tru8 5s, due May 1,1937.
Consol. Mort. 58, due April 1,1937
Central RR. Co. of N. J. Gen. M. 58, due July 1, 1987
Central Pacific M. 6s, due Oct. 1, 1936
<!he8apeake& Ohio 1st M. Os, due July 1,1908
Ist M. Peninsula ext. 6s, due Jan. 1, 1911
IstM. extensions, 6a, due June 1, 1922
1st consol. M. 5a, due May 1, 1939
Ist consol. on Rich. & AH., due 1989
2d consol. on Rich. & All., due 1989
Chicago Burl. & Q., Nebraska ext. 4s, due May 1, 1927
<!hicago & Erie Ist and income mortgages, due 1982
•C.M.&St.P., IstM., Chlc.&L,.Sup'rdiv.58,dueJulyl, 1921.
l8t M. Chic. & Milwaukee 78, due Jan. 1, 1903
Ist M. Cliic. & Mo. River 58, due July 1, 1926
Ist M. Chic. & Paoillo 6a, due Jan. 1, 1910
Ist M. Cliio. & Pacific Western 5s, due Jan. 1, 1921
Consol. Mort. 79, due July 1, 1905
1st M. Dakota & Great Southern 59, duo Jan. 1, 1916
l8t M. Dubuque Os, due July 1, 1920
1st M. Fargo A Southern 6s, due Jan. 1, 1924
l8t M.. Hastings & Dakota exten. 78, due Jan. 1910
IstM. Iowa & Dakota 79, due July 1, 1908.,
l8t M. Lacro.sse & Davenport 5s, due July 1, 1919
Ist M. Mineral Point 5s, due July 1, 1910
IstM River di\'l.sion 79, due Jan. 1, 1902
1st M' Southern Minn. 6s, due Jan. 1, 1910
Terminal Mort. 5s, due July 1, 1914
1st M. Western Union 68, due July 1, 1909
Ist M. Wisconsin & Minn. 5s, due July 1, 1921
IstM. Wisconsin Valley 69, due July 1, 1920
I
General M. 4s of 1889, due 1989
<!hlcago & Northern Pacific 1st mort. 5s, due April 1, 1940..
Lease to Wisconsin Central, dated April 1, 1890
-CEockl. & Pac. 1.9tM.,C. Kan. <fe Neb. Ry. 6s, due July 1,1934
Ist M. Exten9ion & Collat. 58, due July 1, 1934
1st M. St. Jo-seph & Iowa 68, due July 1, 1935
IstM. Wis. JUuu. & Pac. 6s, due Oct. 1, 1934
•Cincin. Jackson & Mack'w 1st Con. M. 58, due Dec. 1, 1936.
Clev. Cin. Chic. & St. L.— Collat. tnist St. L.Div. 48, due 1990.
Colorado Midland Ist M. 69, due June 1, 1936
Consol mort. 49, due Feb. 1,1940
Denver & Rio Grande 1st Con. M. 4s, due Jan. 1, 1936
Improvement M. 5s, due June 1,1928
Denver Tramway consol. mort. 68, due Jan. 1, 1910
Dulutli South Shore & At. IstM. 58, due Jan. 1, 1937
East Tenn. Va. & Ga., Cinn. Extension 5s, due 1940
Fort Worth & Denver City 1st M. Os, due Dec. 1, 1921
Georgia Car. & North'n 1st M. 59, due July 1, 1929
Houstira & Texas Central, all new mortgages of 1890
Iowa Central 1st M. 5s of 1888, due 1938
Kan. City Memphis & Birm. 1st M. 5s, due March 1, 1927
Kentucky Central Ist M. 4s, due July 1, 1987
Kings County Elev. Ist M. 59, due Jan. 1, 1925
Lake Erie & Western 1st M. 5s, due Jan. 1, 1937
2d M. 58, due July 1, 1941
•Lehigh Valley of Now York Ist 412S, due July 1, 1940
Xoulsv. Evans. & St. L. Ist Con. M. 59, due Julv 1, 1939
Loul9viUe & Nashville Unified mort. 48, due Ju'lv 1, 1940 ...
Manhattan Elevated consol. 48, due April 1,1990
Mexican Central consol. M. 4s, due 1911 and 1939
M. St. P. & 8. Ste. Marie l8t Cons. M. 5s, due July 1,1938...
1st M. Minn. S. Ste. Marie & Atl. 58, due Jan. 1, 1926 ...
:Mlnneapolis8treetR'yconsoI.mort.ofl890,dueJan.l5,1919
Mo. Kan. & Texas Ry. Ist M. 48, due June 1, 1990
2d M. 4s due June 1 1990
Missouri Pacific 1st Cons. M. 6s, due Nov. 1, 1920
Mobile & Birmingham Ist M. Ss, due Jan. 1, 1937
Mobile & Oliio General M. 4s, due Sept. 1, 1938
New York Chicago & St. Louis Ist M. 4s, due Oct. 1, 1937
N. Y. Ontario & Western Cons. 1st M. 5s, due June 1, 1939.
N. Y^. Susquehanna * West. 1st mort. 58, due Aug. 1, 1940
Norfolk & Western 1st M. Clinch Val. 5s, due June 1, 1957.
One-hundred-year mortgage 5s, due Jan. 1, 1990
Maryland cSi Wash. Div. 1st M. 5s, due Jan. 1, 1941
Korthem Pacific 3d M. Os, due Deo. 1. 1937
Duluth & Manitoba 1st M. Dak. Ex.6s, due June 1,1937.
Consol. mortgage of 1890, due 1989
•Omaha & St. Louis 1st M. 4s. due Jan. 1, 1937
Oregon Pacific 1st M. 6s, due Oct. 1, 1900
Oregon Ry. & Navigation Col. Trust 5s, due Sept. 1, 1919...
Oreg. Sliort Line & Utah No. con. M. 5s, due April 1, 1919..
Collateral Trust 58, due Sept. 1,1919
Peoria <fe Eastern— O. Ind.A West. Ist M.Ss, due Apr.l, 1938.
Consol. lat mortgage 48, due April 1, 1940
Income morlKage bonds, due April 1, 1090
^Philadelphia & Reading general M. 4a, due Jan. 1, 1958
*• 1st, 2d and 3d Prcl. Inc. M. 58, due Jan. 1, 1958
Pittsburg & Western 1st M. 4s, due July 1, 1917
Poughkeepsie Bridge Co. l8t M. Os, due Aug. 1, 1936
Bichmond & W. P. Ter. Co. Col. Trust 6s, due Feb. 1, 1897..
Consol. Ist collateral M. 5s, due March 1, 1914
Bio Grande Southern 1st mortgage 58, due July 1, 1940.. ..
Bio Grande West. 1st M. 4s, due .Inly 1, 1939
8t. P. M. & M. 1st M. Mon. ext., 4s, due June 1, 1937
Pacific Extension Istmort. 4s, due July 1, 1940
Bt. Louis & San Fran, consol. mort. 49, due Oct. 1, 1990
BanAnt. &A ransas Pass 1 st M. on ext. 6s, duo July 1, 1926.
San Fran. & North Pacific IstM. 59, due Jan. 1,1919
Bavannah & Western 1st Cons. M. 5s, due March 1, 1929 ..
Bouthem Pacific gen. M. 5s of 1888, duo 1938
Texas & Pacific 1st M. 58. due June 1, 2000
2d M. ,58, due Dec. 1, 2000
-Toledo Peoria & Western Ist M. 48, due July 1, 1917
Toledo St. L. & Kansas City IstM. 68, due June 1, 1916
Union P.'vcitto collat. trust notes, Os, due Aug. 1, 1894
•UnlonPacificDciiver&Gulfcon.M. .5s, due Dec. 1, 1939
-Virginia Midland general M. Ss, due May 1, 1936
3
82
244
372
241
240
509
82
82
242
403
528
244
23
W
RAILROAD AND OTHER MAPS IN THE
SUPPLEMENT.
The railroad maps
in the
Supplement and maps
of certaio
may
be referred to easily by the
indsx below. These maps are prepared with much care in the
Chronicle office, and are intended to show as clearly as possible the precise location of the various railroads represented
seal companies' properties
and
their strategic position in
commanding
business.
Map.
Alabama Great South.
iSee
E. Tenn. Va.
<fe
Faoe.
65
8,9, 10, 11
8,9, 10, 11
14
aa
Atlantic & Pacific. See Atchison Topeka <& Santa Fe.
Atchison Topeka & Santa Fe
Baltimore & Ohio
Baltimore & Ohio Southwestern. >See Baltimore & Ohio
Buffalo Rochester & Pittsburg
Canada Southern. See New York Central
Centralla & Chester
Central Pacific. 5ee Southern Paolflc
Central Railroad of Georgia
Central RR. of New Jersey
Chesapeake & Ohio
Chicago Burlington & Qulncy
Ca»ioago & Eastern Illinois
Chicago Great Western
Chicago Milwaukee it St. Paul
Chicago &Northeru Pacific
Chicago & Northwestern
Chicago Rock Island* Pacific
Chicago St. Paul & Kansag City. See Chicago <fc Great Western
Cincinnati Hamilton
14
18
94
24
138
21
23
26
28
30
32
38
35
36
38
32
40
42
& Dayton
Cleveland Canton & Southern
Cleveland Cincinnati Chicago & St. Louis
Colorado Fuel & Iron
Colorado Midland. See Atchison Topeka
Columbus Hocking Valley & Toledo
44
151
10
& Santa Fe
46
47
Columbus Shawnee & Hocking
Delaware & Hud9on Canal Co.'s Lines
Delaware Lackawanna & Western
Denver & Rio Grande
Dubuque & Sioux City. See Illinois Central
4*'
51
East Tennessee Virginia & Georgia
Elgin Joliet & Eastern
Evansville &Terre Haute
Flint & Pere Marquette
Galveston Harrisburg &, San Antonio. See Southern Paolflo
Grand Rapids <fe Indiana. See Pennsylvania ER
Great Northern
Houston & Texas CentraL See Southern Pacific
nUnois Central
Kansas City & Independence Air Line
Kansas City Nevada & Fort Smith
Kansas City Suburban Belt
Kanawha & Michigan. See Toledo & Ohio CentraL
Kansas City Watldns <fc Gulf
Lake Erie & Western
Lake Shore & Michigan Southern. See New York Central
Lehigh Valley
Louisville Evansville & St. Louis. See EvansvUle <fe Terre Haute.
Louisville & Nashville
Louisville New Albany <fe Chicago
Louisville St. Louis & Texas
Memphis & Charleston. See East Tennessee Virginia
& Georgia
Mexican Central
Michigan Central.
See New York Central
Minneaiiolia Street Railway (See Twin Citv Rapid Transit)
Minneapolis St. Paul & S. Ste. Marie
Missouri Kansas & Texas
Mobile & Ohio
Nashville Chattanooga & St. Louis
New York Ceutral <&^udson Elver
New Y'ork Chicago A St. Louis. See
New York Ontario it Western
New York Susquehanna
53
65
65
56
.
68
60
126
103
63
133
65
70
68
70
129
72
73
94
75
.
58
77
79
81
55
83
94
154
86
88
New York Central
& Western
90
92
94
94
97
99
102-103
Norfolk & Western
Northern Pacific
104
Oregon Short Line & Utah Northern. SeetTnionPaoiflo
141
Padueali JTennessee <t Alabama
110
Pennsylvania
108
Peoria Decatur cfe Evansville. See EvansvUle ife Terre Haute
68
Philadelphia & Erie. See Pennsylvania Bailroad
108
Philadelphia & Reading
112
Philadelphia Reading & New England
114
Pittsliurg Cincinnati Chicago & St. Louis
117
Pittsburg Fort Wayne <& Chicago. See Pennsylvania Bailroad
108
Pittsliurg Shenango & Lake Erie
118
Richmond & Danville
120
Rio Grande Southern. See Denver A Elo Grande.
63
Elo Grande Western
123
St. Louis Cai>e Girardeau lic Fort Smith
126
St. Loui9 & San Francisco.
See Atchison system.
11
See Twin City Rapid Transit
St. Paul City.
160
San Antonio & Aransas Pass
127
,
Bavannah Amerlcus & Montgomery
Shenandoah Valley. See Norfolk <& Western
Sioux City &. Nortliern
Southern Pacific Company
Toledo Ann Arbor &. North Michigan
Toledo (feOhio Central
Toledo & Ohio Central Extension
Toledo .St. Louis & Kansas City
Twin City Eapid Transit
Union
Union
Pacific
Pacific
Denver* Gulf
Virginia Midland. See
Richmond
Wlsoousin Central Companies
Jc
Danville
129
102
131
133
135
138
137
139
160
141
148
130
148
'
INVESTOKS' SUPPLEMENT.
INDEX TO COMPANIES— CONSOLIDATED,
[Vou LV.
&c.
The names of companies not given in the Supplement tables in their alphabetical order will be found in the Index below,
ilany railroads have lost their original title by foreclosure or consolidation, while others have been practically merged by
Isase or by purchase of their stock the names of such companies are given below, together with the title of the present
'organization under which their securities may be found.
NXUB.
WILL BE FOUND UNDER—
NAME.
WILL BE KOU.ND UNDER—
;
Adirondack
Adirondack &
&
Delaware
Hudson.
& H. E.
Baltimore & Oliio.
East Tcnn. Virginia
Bt. Lawrence
Airou & Chicago Junction
Alabama Central
Albany Florida Northern
Concord
N. Y. C.
& Georgia.
Savannah Americus & Montgomery.
Wilmington & Wcldon.
Chicago & South Side Rapid Transit.
<fe
Albemarle &. Kaleigh
Alley Elevated
American Dock &, Improvement Co.. Central of New Jersey.
Americus Preston & Lumpkin
Savannah Americu.s & Montgomery.
Ashtabula & Pittsburg
PittsburgYoungstowu & Ashtabula.
Atchison & Nebraska
Chicago Burlington & Quiucy.
Atchison & Pike's Peak
Central Branch Union Paciflc.
Atlantic Coast Line
Atl. C. Line St.
John
& Ind.
Atlantic & Great Western
Atlantic & Gulf
Atlantic Mississippi & Ohio
Atlantic & Northwest
Atlantic & Paciflc
& Weldon.
Tampa & Key West.
New York Pennsylvania & Ohio.
Savannah Florida & Western.
Norfolk & Western.
Wihningtou
Elver.. JacksonviUo
Canadian
Pacillc.
Baltimore & Harrisbiu'g
BtJtimore &, New York
Battle Creek & Sturgls
Bay City & Battle Creek
See Atchison System.
Port Eoval & Western Carolina.
Western Maryland.
Western Maryland.
Western Maryland.
Baltimore & Ohio.
Lak e Shore & Michigan Southern.
Michigan Central.
Belfast
Maine Central.
Augusta & Knox\'ille
Baltimore & Cumberland
Baltimore & Hanover
& Mooeehead
BeUefontaiue & Indiana
BeUeville & Carondelet
BeUertUe i Eldorado
Belleville & Southern Illinois
Clev. Ciu. Chic.
<fe
St.
Louis.
Concord
Connecticut Western
Consolidated Terminal Railway
Consolidated Vei-mont
Coming Cowanesque & An trim
Coshocton & Southern
Covington & Lexington
Current Elver
Hartford
& Montreal.
& Connecticut Western.
Kansas City Suburban
Central of Vermont.
Belt.
Fall Brook.
Cleveland Canton & Southern.
Kentucky Cent.— Louisville & Nash.
Kansas City Fort Scott &Memplil«.
& Waco
DanviUe & Grape
Chicago & Northwestern.
Chicago Milwaukee & St. Paul.
Missouri Kansas & Texas.
Chicago & East Illinois.
Delano Laud
Teuu. Coal <fe Iron (MisceL)
Lehigh Valley.
Dakota Central
Dakota & Great Southern
Dallas
Creek
Danville & Western
Dayton Fort Wayne & Chicago
De Bardelebeu
^
Denver Paciflc
Denver & Rio Grande Western
Denver Texas & Fort Worth
Denver Texas & Gulf
Des Moines & Alinnesota
Detroit & Bay City
Detroit Monroe & Toledo
Duck River
Duluth & Manitoba
Duluth Short Line
Dutchess County
Richmond & Danville.
Dayton & Ironton.
Cincinnati
Union
Pacific.
Rio Grande Western.
Union Paciflc Denver & Gulf.
Union Paciflc Denver & Gulf.
Chicago & Northwestern.
Michigan Central.
Lake Shore & Michigan Southern.
Nashville Chattanooga & St. Looig.
Northern Paciflc.
St. Paul & Duluth.
Phila. Reading & New England.
& Terre Haute.
Kast Line & Red River
Missouri Kansas & Texas.
& Terre Haute.
Eastern of Massachusetts
Boston & Maine.
& TeiTe Haute.
Eastern of Minnesota
Great Nnrthem.
Bell's Gap
Pennsylvania & Northwestern.
Easton & Amboy
I.(high Valley.
Belt EE. & Stock Y'ard
Indianapolis Union.
Elizabethtown Lexing. & BlgSandy. Chesapeake & Ohio.
Black River & Morristown
Rome Watertown & Ogdensburg.
New York Lake Erie & Western.
Erie
Birmingham Equipment
Kansas City Merap. & Birmingham. Escanaba& Lake Superior
Chicago i Northwestern.
Bluff Point Improvement
Delaware & Hudson Canal.
European & North American
Maine Central.
Booneville Bridge
Missouri Kansas & Texas.
Evansville & CrawfordsvlUe
Evansville &, Terre Haute.
Booneville St Louis & Southern
Missouri Paciflc.
Evansville Henderson & Nashville. Louisville & Nashville.
Boston Barre & Gardner
Fitchburg.
Evansville Rockford & Eastern
Louisville EvansvUle & St. Lonls.
Boston Clin. Fitch. & New Bed
Old Colony.
Chicago Milwaukee & St. PauL
Fargo & Southern
Boston Concord & Montreal
Concord & Montr^l.
Florida Railway & Navigation
Florida Central & Penmsnlar.
Boston Hartford & Erie
New Y'ork & New England.
Florida Southern
Jacksonville Tampa & Key West.
Boston Hoosac Tunnel & Western.. Fitchburg.
Fort Smith & Van Buren Bridge
Atchison Sys.— St. Lo. & San Fran.
Boston Providence & FishkiU
NewY'ork&New England.
Fremont Elkhorn & Missouri Val... Chicago & Northwestern.
Boston Winthrop & Shore
Boston Eevere Beach & Lynn.
Kings County Elevated.
FultonEle vated
Brooklyn & Montauk
Long Island.
Detroit Lansing & Northern.
Grand Eapids Lansing & Detroit
Brunswick & ChlllicotUe
Wabash.
Grand Eapids Newaygo & L. Shore. Chicago & West Michigan.
Brunswick & Western
Savannah Florida & Western.
Michigan Central.
Grand Eiver Valley
Buffalo & Erie
Lake Shore & Michigan Soutliern.
Columbia & Greenville.
Buffalo New York & Philadelphia. -Western New York & Pennsylvania. Greenville & Columbia
BturUngton & Missouri Eiver
Chicago Burlington &. Quincy.
New York New Haven & Hartford.
Harlem & Portchester
Busk 'Tunnel
AtchisonSys.— Colorado Midland.
Chicago Milwaukee & St. PauL
Hastings & Dakota
Northern Paciflc.
Helena & Red Mountain
Cairo Arkansas & Texas
MissouriPaciflc— St. L. I. M. & So.
Louisville & Nashville.
Henderson Bridge Co
Cairo & St. Louis
St. Louis & Cairo.
Maine Central.
Hereford
Cairo Short Line
St. Louis Alton & Terre Haute.
Flint & Pere Marquette.
Holly Wayne & Monroe
Cairo Vincennes & Chicago
Cleveland Cin. Chicago & St. Louis.
New Haven & Northampton.
Holyoke & Westfield
OaUfomla& Oregon
Central Pacific.
Chicago Burlington & Quincy.
Humeston & Shenandoah
Camden & Amboy
United New Jersey.
Huntinburg Tell City & CanneUton.Louisv. Evansv. & St. Louis Consol.
Canada Central
Canadian Paciflc.
Ohio River.
Huutington &Blg Sandy
Cape Girardeau Southwestern
St. L. Cape Girardeau & Fort Smith.
Carbondale & Shawneetown
St. Louis Alton & Terre Haute.
Terre Haute & Peoria.
Illinois Midland
Cedar Eapids & Clinton
Burlington Cedar Eapids&North'n. Illinois & St. Louis
Louisville Evansv. & St. L. Consol
Cedar Rapids Iowa Falls &N. W... Burlington Cedar Eapids&North'n. Indiana Bloomingtou fflWestern
Peoria & Eastern.
Cedar Rapids & Missouri Eiver
Chicago & Northwestern.
Terre Haute &, Indianapolis.
Indiana & Lake Michigan
Central Iowa
Iowa Central.
Cleveland Cin. CHiic.
St. Louis.
Indianapolis Cin & Lafayette
Central Washington
Northern Pacific.
Indianapolis Decatur & Springfield.. Indianapolis Decatur & Western.
Charlottesville & Eapidan
Virginia Midland.
Cleveland Cin. Chic. & St. Louis.
Indianapolis & St. Louis
Chattanooga Rome & Columbus
Savannah & Western.
Detroit Lansing & Northern.
Ionia & Lansing
Cheshire
Fitchburg.
Burlington Cedar Eapids & North'n.
Iowa City & Western
Chioago & Atlantic
Chicago & Erie.
Chicago Milwaukee &, St. Paul.
Iowa& Dakota
Chicago & CaUunet Terminal
Chicago & Northern Paciflc.
Dubuque & Sioux City.
lowa Falls & Sioux City
Cklcago Clinton Dubuque & Minn .. Chicago Milwaukee & St. Paul.
Chicago
Northwestern.
Iowa Midland
Clileago& Great Eastern
Pittsburg Cin. Chicago & St. Louis.
Chicago Milwaukee & St. Paul
lowa & Minnesota
Chioago & Great Western
Clucago & Nortliern Pacific.
Saginaw
Michigan Central.
Jackson Lansing &
CSiioago & Indiana Coal
Chicago & Eastern Illinois.
Chicago Peoria & St. Louis.
Jacksonville Southeastern
Chicago Kansas & Nebraska
Chicago Rock Island & Paciflc.
Jacksonville Louisville & St. Louis. Chicago Peoria & St. Louis.
Obtcago & Michigan Lake Shore
Chicago & West Michigan.
Northern Pacific.
James Eiver Valley
Chicago Milwaukee & N. W
Chicago & Northwestern.
Lake Shore & Michigan Southern.
Jamestown & Franklin
Chioago &. Milwaukee
Cliicago & Northwestern.
Jefferson Madison & ludlanapoUs.. Pittsburg Cincinnati Chic. &. St. L.
Odoago & North Michigan
Chicago & West Michigan.
Chicago & Alton.
Joliet & Chicago
Chicago & Paciflc
Chicago Milwaukee & St. Paul.
Delaware Maryland & Virginia.
Junction & Brealcwater
Chioago Santa Fe
California
Atchison Topeka & Santa Fe.
Kalamazoo Allegan & Gr. Eapids.. Lake Shore & Michigan Southern.
Chicago* St. Louis
Atchison Topeka & Santa Fe.
Micliigau Central.
Kalamazoo & Soiith Haven
Chioago St. Louis & New Orleans. .Illinois Central.
Lake Shore & Michigan Southern.
Kalamazoo & White Pigeon
Cbioago St. Louis & Paducah
St. Louis Alton & Terre Haute.
Kauawlia & Michigan.
Kanawha & Ohio
Chioago St. Louis & Pittsburg
Pittsb'rg Cincinnati Chicago & St. L.
Missouri Pac. (St. L. I. Mt. &So.)
Kansas & Arkansas Valley
Chicago St. Paul & Kansas City
Chicago Great Western.
Kansas City Wyandotte & N. W.
Kansas City & Beatrice
Chioago St. Paul & Minn
Chicago St. Paul Minn. <& Omaha.
Kausas City Fort Scott & Memphis.
Kansas City Fort Scott & Gulf
CSiloago & Southwestern
Chicago Rock Island &Paciflc.
Kansas City & Memphis Ry. Brldge.Kausas City Fort Scott & Memphis.
Chicago & Springfield
Illinois Central.
St. Joseph & Grand Island.
Kansas City & Omaha
Chicago & "Tomali
Chicago & Northwestern.
Chicago & Alton.
Kansas City St. Louis & Chicago
Chicago Wisconsin & Minnesota
Wisconsin Central Co.
Kansas City Southeastern & Memp. Kansas City Fort Scott & Memphis.
Cincinnati
Baltimore
Baltimore AOhio Southwestern.
Atchison Sys.— St. L. & San Fran.
Kausas City & Southwestern
Cincinnati Hamilton <& Indianapolis. Cincinnati Hamilton & Dayton.
Kansas City Springfield & Memphis.Kausas City Fort Scott & Memphis.
OBOlnnati & Indiana
Cleveland Cin. Chic. &8t. Louis.
AtcIiLson Topeka & Santa Fe.
KansasCity Topeka & Western
duclnnatl Ind. St. Louis & Chicago. Cleveland Cin. Chic. & St. Louis.
Kausas City Fort Scott & Memphis.
Kausas Eqiiipment
Cincinnati Lafayette
Chicago
Cleveland Cin. Chic. & St. Louis.
Atchison Sys.— St. L. & San Fran.
Kansas Midland
Cincinnati Richmond & Chicago
Pittsb'rg Cincinnati Chicago & St. L.
Kansas City Fort Scott & Memphis.
Kansas* Missouri
Ciacinnati Sandusky & Cleveland.. Cleveland Cin. Chic. & St. Louis.
Union Pacific.
daoianati Southern
Cincinnati New Orleans & Tex. Pac. Kansas Pacific
Iowa Central.
Bridge
Keithsburg
Olnckmati Wabash &, Michigan
Cleveland Cin. Chic. & St. Louis.
Louisville & Nashville.
Kentucky Central
Ctooianati Wash.
Baltimore
Baltimore & Oliio Southwestern.
Maine Central.
Lincoln
Knox
darksville & North Carolina
Richmond & Danville.
East Tennessee Virginia & Georgia
Ohio
Knoxville
dearfleld &. Jefl'erson
Pennsylvania & Northwestern.
Marietta & North Georgia.
KnoxviUe Southern
Clearfleld Bltimiinous Coal
Beech Creek.
Cleveland & Canton
Delaware & Hudson.
Cleveland Canton &Southern.
Lackawanna & Susquehanna
Cleveland Columbus Cin. & Ind
Reading & Columbia.
Cleveland Cin. Cliic. & St. Louis.
Lancaster & Reading
devel. Tuscarawas V. & Wheeling. .Cleveland I^rain & Wheeling.
Pittsburg Youngsto wn & Ashtabula.
Lawrence
Coeur d'Alene
Maine Central.
Northern Paciflc.
Leeds &Farmington
Colorado Central
Lehigh Coal & Navigation.
Union Paciflc Denver & Gulf.
Lehigh & Susquehanna
Colorado Midland
Missouri Paciflc.
See Atchison "System."
Leroy & Caney Valley
Columbia & Augusta
Chicago Burlington & Quincy.
Charlotte Columbia & Augusta.
Lincoln & Northwest;ern
Colorado Bridge
Buffalo Eochester & Pittsburg.
International & Great Northern.
Lincoln Park & Charlotte
Colorado Coal & Iron
MissouriPaciflc.
Color.ido Fuel & Iron.
Little Eock Junction
Colorado Fuel
Missouri Pacific.
Colorado Fuel & Iron.
Llttie Eock & Fort Smith
Columbus & Hocking VaUey
Central New Jersey.
Columbus Hocking Valley & Toledo. Long Branch & Sea Shore
Columbus & Indianapolis Central... Pittsb. Cincinnati Chic. & St. Louis. Long Dock Company
New York Lake Erie i Western.
Coltmibus &Rome
L<>ng Island.
Savannah & Western.
Long Island City & i'lushing
Colimibus A Toledo
Chicago & Alton.
Col. Hocking VaUey & Toledo.
Louisiana & Missouri River
St.
St.
St.
Louis Alton
Louis Alton
Louis Alton
<fe
»fe
<fe
.
<fe
<St
<fe
<fe
<fe
Columbus
it
Western
Savannah
It,
Western.
I
oulsvllle Clnciimatl <& Lexiuston.. Louisville &, Nashville.
.
November
INDEX-
1892.]
WILL BE FOUND UNDER—
NAMB.
LoulBTille Hardlnsbiirg* Western. .Lonlsvlllo St. Louis
Illinois Central.
LotilsTllle New Orleaus & Texas
<Se
Chicago Peoria &
Boston & Lowell.
Maoon &
AiiKiista
GeorxlaRR. & BanklnR
& St.
LoulB
St.
Louis.
.
Memphis ClarkHville<fe LoulsTllle... Louisville & Nashville.
Kansas City Memphis &Blrming'm.
Memphis Equipment
Kansas City Fort Scott & Memphis
Memphis Kansas & Colorado
Louisville & Nashville.
Memphis & Oliio
St. Louis Merch'ts' Bridge Ter. RR.
Merchiiuts' Bridge
Chicago & Northwestern.
Menominee River
Midland of
Milwaukee
Milwaukee
Manhattan Elevated.
Long Island.
Michigan Central.
CincinnatlJackson <b Mackinaw.
New York Susnuehanua & Western.
.'
New Jcr-sey
& Madison
Chicago* Northwestern.
Chicago Milwaukee & St. Paul.
Minneapolis & St. Louis.
Minneap. St. P. & Sault Ste. Marie.
<fe Atl'tlc. Minneap. St. P. & Sault Ste. Marie.
Great Northern.
Chicago Milwaukee & St. Paul.
Minnesota Central
Chicago Great Western.
Minnesota & Northwestern
Minnesota St. Croix & Wisconsin. .Wisconsin Central Company.
Chicago & Northwestern.
Minnesota Valley
Central Vermont.
Missisquoi Valley
Chicago & Alton.
Mi8sissipi)i River Bridge
Missouri Kansas & Texas.
Missouri Kansas & Eastern
Missouri Valley & Blair RB. Bridge.Chicago & Northwestern.
AtehLson System— St. L. & 8. Fran.
Missouri & Western
Baltimore & Ohio.
Monongahela River
Great Northern
Montana Central
Muskegon Grand Rapids & Indlana.Grand Rapids & Indiana.
& Northern
Minneapolis & Duluth
Minneapolis <fe Pacilic
Mlnneap. Sault Ste. Marie
Minneapolis Union
.
Nashua & Lowell
Nashua & Rochester
Boston & I.iOwelI.
Worcester Na.shua & Rochester.
Chicago Burlington & Quincy.
Sioux City O'Neill & Western.
Kentucky & Indiana Bridge.
Old Colony.
Canadian Paclflo.
New York Lake Erie & Western.
New York Pennsylvania & Ohio.
Now York & New England.
New York Susquehanna & Western.
Nebraska
Nebraska & Western
New Albany Belt & Terminal
New Bsdford Railroad
New Brunswick
Newburg &New York
New Castle & Slienango Valley
New England Equipment
New .lersey Midland
New Jersey Southern
New Mexico & Southern Pacific
New Orleansife Gulf
New Orleans & Mobile
New Orleans Pacific
Newport & Richf ord
Newtown & Flushing
New York Elevated
New York AErie
New York & Long Branch
New York & Manhattan Beaoh
New York Providence & Boston
New York & Oswego Midland
New York & Bockaway
K. Y. Woodhaven & Rockaway
Nodaway
Central of
Ateliison
New
New Jersey.
Topeka & Santa Fe.
Orleans
it
Southern.
& Nashville.
& Pacific.
Louisville
Texas
Connecticut
& Passumpaio.
Long Lsland.
Manhattan Elevated.
New York Lake Erie A Western.
Central of New Jersey.
N. Y. Brooklyn & Manhat. Beach.
New York New Haven & Hartford.
New York Ontario & Western.
Long
Island.
New York & Rockaway Beaeh.
Kan. City St. Jos. & Council Bluffs.
Norfolk & Western.
Norfolk & Southern.
Chicago & Northwestern.
Valley
Norfolk & Petersburg
Norfolk Southern
Northern Illinois
North Missouri
North Shore
North Wisconsin
Wabasli.
Canadian Pacific.
Chic. St. Paul Minn. & Omaha.
Manitoba Ter. .Nortliern Pacific.
&
Northern Pacific.
& Montana
Chicago & Grand Trunk.
Northwestern Grand Trunk
Richmond Si Danville.
Northwestern North Carolina
Chicago & Northwestern.
Northwestern Union
Baltimore & Ohio.
Northwest Virginia
Cent. RR. & Banking Co. of Georgia
Ocean Steamship
Ogdensburg & Lake Champlaln.
Ogdensburg Transit
Toledo* Ohio Central.
Ohio Central
Peoria & Eastern.
Ohio Indiana & Western
Ohio & Northwestern
Cincinnati Portsmoiith & Virginia.
Ohio & West Virginia
Col. Hocking Valley & Toledo.
Chicago Burlington & Qulnoy.
Omaha & Southwestern
Canadian raclHo.
Ontario <fe Quebec
Oregon Short Line & Utah Northern.
Oregon Short Line
Oswego A Rome
Rome Watcrtown & Ogdensburg.
Chicago BurlingtonA Quincy.
Ottawa Oswego & Fox River
Chicago A Nortliwestern,
Ottumwa Cedar Falls A St. Paul
Richmond A DanvUlo.
Oxford A Clarksville
Nortliern Pacific
Northern Pacific
.
Oregon Improvement Co.
Paclfle Coa«t
Pacific of Missouri
Pacific Short Line
Missouri Pacific.
Sioux City O'Neill
A Western.
Chesapeake Ohio A Southwestern.
Peninsular (Mich)
Chicago A Northwestern.
•Pennsylvania A N. Y. Canal
I>ehlgh Valley.
Maine Central.
Penobscot Shore Line
Pensacola A AtLintic
Louisville A Nashville.
Philadelphia Marlton A Medford... Camden A Atlantic.
Pittsburg Cincinnati A St. Louis
Pitts. CInn. Chic. A St. Lonls.
Pittsfield A North Adams
Boston A Albany.
Pleasant Hill A De Soto
Kansas City Clinton A Springfield.
Port Huron A Northwestern
Flint A Pere Marquette.
Portland A Kennebec
Maine Central.
Portland A Ogdensburg
Maine Centaal.
Portsmouth (Jreat Falls A Conway Boston A Maine.
Chicago Milwaukee A St. Paul.
Prairie du Chlen
Paducah A Elizabethtown
()nlnc7 Alton
A
St.
Louis
Kavenswoo<l Spencer A GlenyUle.
Eepubllcan Valley
Rhode Island A Massachusetts
Klch HUl
Richmond A Alleghany
Chicago Burlington
.
A Pittsburg
A Pittsburgh
Western.
Buffalo Rochester
Rome A Carrollton
Savannah
A
Detroit Lansing A Northern.
A Western
Wabash.
Chicago Rook Island A Paolflo..
A Iowa
A Western
St. Joseph A Grand Island.
Lawrence A Ottawa
Canadian Pacific.
Alton ASpringHeld
U>uis
St. Louis Chicago A St. Paul.
Ixiuis Arkansas & Texas
St. Louis Southwestern.
I..ouis Bridge A Tunnel
Terminal Association of St. Lonl*
North A South BR. of nUnoU.
Ix)uis A Clucago
Louis Council Bluffs A Omaha... Wabash.
I>ouls Iron Mount'n A Southern.. Missouri Paclfle System.
I.«ul8 Jacksonville A Chicago
Chicago A Alton.
Ix)uis Kansas City A Northern... Wabash.
Louis Kansas A Southwestern... Atch. System, St. Lonls A San Fran.
Louis Halom A Arkansas
Atch. System, St. I-ouis A San Fran
Ijouis A San Francisco
See Atchison " System."
Louis Southern
St. Louis Alton A Terre Haute.
Louis Wicliita A Western
Atch. System, St Louis A San Fraik.
Paul Eastern Grand Trunk
Milwaukee I/ake Shore A Weaterm.
Paul Minneapolis A Manitoba.. Great Northern.
Paul A Pacific
Great Northern.
Paul A Sioux City
Chic. St. Paul Minn. A Omaha.
Paul Stillwater A T. F
Chic. St. Paul Minn. A Omaha.
Sandusky Dayton A Clnelnnatl
Cincinnati Sandusky A Clevelan*
Salem A Lowell
Boston A Albany.
Sanford A Lake Eustls
Jacksonville Tampa A Key West,.
Saginaw
Co.
Lake Shore & Michigan Southern.
Mahonlni; Coal
Manitoba South west'n Colonization Canadian Pacific.
Toledo & Ohio Central Extension.
Marietta Colurabus & Northern
Toledo & Ohio Central Extension.
Marietta Mineral
Chicago & Northwestern.
Maple River
Marquette Hougton & Ontonagon.. .Duluth South Shore & Atlantic.
Baltimore & Lehigh.
Maryland Central
Connecticut & Passumpslc.
Massawippi
Kentucky Central.— Louis. A Nash,
MaysviUe & Lexington
Pittsh.McKeesport AYoughlogheny
MoKeesport & Belle vornon
Metropolitan Elevated
Metropolitan Ferry
Michigan Air Line
Michigan ife Ohio
WILL BE FOimD UHDBB—
NAME.
RlchmondYorkRlver AChesajwakc.Rlclimond A DanvlUe.
Rochester
Lawrence
l/oulsvllle
Lowell
& Texas.
A
Qulnoy.
Ohio River.
Chicago Burlington A Qnlnoy.
New York A New England.
Kansas City Fort Scott A Memphis.
Chesapeake A Ohio.
St.
Charles Bridge
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
St.
Joseph
Joseph
San Joaquin Valley
Central Pacific.
San Pablo ATulare
Northern (California).
Sandusky A Coliunbus Short Line.. Columbus Shawnee A Hocking.
Sault St. Marie A Southwestern
Cliic. St. P. Minneapolis A Omalua
Savannah A Atlantic
Central of Georgia.
Savannah Albany A Gulf
Savannah Florida A Western.
Charleston
Savannah A
Charleston A Savannah.
Schcnecta(ly A Duancsburg
Delaware A Hudson.
Schuylkill River East Side
Baltimore A Ohio.
Scioto Valley A New England
Norfolk A Western.
Seaboard Air Line
Seaboard A Roanoke.
Seattle A Northern
Oregon Improvement.
Shawnee A Muskingum RB
Columbus Shawnee A Hocking.
Sheffield A Birmingham
Birmingham Shelfleld A Tenn.KlT«fc
Shenandoah Valley
Norfolk A Western.
Sherman Denisou A Dallas
Missouri Kansas A Texas.
Short Creek & Joplin
Kansas City Fort Scott A MempbiiL
Sioux City A Paclfle
Chicago & Northwestern.
Shreveport A Houston
Hou.=ton A Shreveport.
Smitlitown A Port Jefferson
Sodus Bay A Southern
Sonora
South Georgia A Florida
SouthSide (Va.)
Long
Savannah Florida A Western.-
Norfolk A Western.
Louisville A NashviUe.
Atchison Topeka A Santa Fe,
Savannah Fl<fl-ida A Western.
Atchison Topeka A Santa Fe.
Atehison Topeka A Santa Ffr,
Atchison Topeka A Santa Fe.
Clucago Milwaukee A St. Paul.
Southern Pacific of California.
Southeastern A St. Louis
Southern California
Southern Georgia A Florida
Southern Kansas
Southern Kansas in Texas
Southern Kansas A Western
Southern Minnesota
Southern Pacific Branch
Southern Pennsylvania
Spokane A Palouse
Cumberland Valley.
Northern
Sterling Mountain BR
Steubenville A Indiana
Stockton
A
Pacilic.
Sterling Iron A R'y Co. (see Mlsoti'i^
Pittsburg Cinn. Chic. A .St. Louis.
Copperopolis
Southern Pacific of California.
Lake Shore A Michlaak Houtkcnu.
American Sugar Bwnlng.
American Sugar Refining.
Sturgis Goshen A St. Louis
Sugar Refineries
Sugar Trust
Sunbury A Erie
Syracuse Northern
Syracuse Ontario A
Isl.and.
Elmira A Lake Ontario.
Atchison Topeka A Santa Fe.
Philadelphia
A Erie.
Rome Waterto wn A Ogdensburfr.
N^w York
West Shore.
A Lake Superior
St. Paul A Dnluth.
Kan. City St. Jos. A CounoU BlaiB»
Tebo A Neosho
Missouri Kansas A Texas.
Tennessee Midland
Paducah Tennessee A Alabama.
Terre Haute A Southeastern
Evansville A Indianapolis.
Texas Mexican
Mexican National.
Toledo Ann Arbor A Cadillac
Toledo Ann Arbor A North Mioh.
Toledo Ann Arbor A Grand Trunk. .Toledo Ann Arbor A North Miolu
Toledo Ann Arbor A Lake Mlchlgan.Toledo Ann Arbor A North Mloh,
Toledo Ann Arbor A Mt. Pleasant. .Toledo Ann Arbor A North MlolL.
Toledo Belt
Wlieellng A Lake Erie.
Toledo Cincinnati A St. Louis
Toledo St. Loula A Kansas (31ty.
Toledo Columbus A Cincinnati
Toledo A Ohio Central.
Toronto Grey A Bruce
Canadian Pacific.
Troy A Boston
FItchburg.
Tunnel RR. of St. Louis
Terminal Ass'n of St. Louis (Mise«l.
Taylor's Falls
Tarklo Valley
Pnion
Union Railway of Chattanooga
Union Elevated
Union A Logansport
Union Ter. By. of Kansas City, Kan
Upper Coos
Utah A Northern
Utah Southern
_
Utlca A Black River
Venice A Carondelet
Verdigris Val. Independ'ce
Vicksburg
A
Meridian
Tennessee
A
Waco A North western
Warren A Franklin
Virginia
Warwick Valley
A West.
Northern Central.
Chattanooga Union.
Brooklyn Elevated.
Pittsburg Cincin. Chicago ASt,I<h.
Kansas City Suburban Belt.
Maine Central.
Oregon Short Line A Utah North'^
.
Oregon ShortLineAUtah Nortk'S
Some Watertown A Ogdensburg.
.
Ix)ulsvlllo EvansvlUe
Missouri Pacific.
A St.
Loola.
Alabama A Vieksburg.
Norfolk
A Western.
Houston A Texas Centra).
Western New York A Pennsrfraatk
Lehigh A Hudson River.
Washington City Va. Mid. A Gt So. Virginia Midland.
Washington City A Point Lookout. Baltimore A Ohio.
Washington Ohio A Western
Richmond A DanvlUe.
Way nesburg A Canton
Cleveland Canton A Southern..
Western Minnesota
St. Paul A Northern Paclflo.
Western Paclflo
Central Pacific.
West Wisconsin
Chle. St. Paul Minneap. A Omatuh
Wichita A Western
Atchison Toiwka A 8.\nta Fe.
Winona A St. Peter
Chicago ANcrthwOv<tcm.
Wisconsin A Minnesota
Wisconsin Central Company.
Wisconsin Minnesota A Pacific
Minneapolis A St. Lonls.
Wisconsin Valley
Chicago Milwaukee A St. Paul.
York A Peach Bottom
Baltimore A Lehigh.
ZanesTlUe Terminal
Columbus Shawnee
4i
HooUntfT
c
..
c
:
.
STOCK AND BOND
T ABLES.
NOTES.
These tables are expressly Intended to be used in oonneotlon -with the information oonoeming investment matters published trom yroeM
to weekin the.CuBONiCLE. At the conclusion of the statement for each company, therefore, Is furnished a complete index of all items pertaining to that company published in the Cbbonicle within the last eighteen months. Annual reports are in blaclt-faced tlgures.
In case any company cannot be found In its regular alphabetical order (the railroads being arranged together ilrst, and misoeUaneou»
Oompanies following), reference should be made to the index to roads leased and consolidated.
The •' dividends " appearing in the text are those which have actually been paid during the calendar years named, irrespective of when^
they may have been earned; hence they often differ from the dividends reported with the earnings for the same years respectively.
By "net earninga" as used in this Supplement is meant the earnings remaining after deducting operating expenses, but not Interest on
debt, rentals or other fixed charges. Some companies report net earnings before and some after deducting taxes.
The following will give explanations of each of the columns of the tables below
M. for " mortgage " gen. M. for " general mortgage " con. M. or consol. M. for " consolidated mortDticription. — Abbreviations used are
gage;" inc. M. for "income mortgage;" g. for "gold;" guar, for "guaranteed;" guar. p. & i. for "guaranteed principal and interest;" cum. for "cumulative;" non-cum. for "non-cumulative;" conv. for "convertible;" pref. for "preferred;" s. f. for "sinking
fund " 1. gr. for " land grant " r. for " registered " o. for " coupon " c* for " coupon but may be registered as to principal " c. *
r. for "coupon and registered;" br. for "branch;" end. for "endorsed;" "red." for redeemable, meaning subject to call beforft
maturity (so "red. at 100" means subject to call at par); "d'm" or "drawn" for subjectto call for the sinking fund from time totime when drawn by lot; "p. m." for "per mile," thus $15,000 p. m. means $15,000 per mile.
Bate of Bonds.— The date of issue on the face of the bonds is referred to in tills column.
Miles o/Ko(k/.— Opposite stocks, this means the miles of road owned opposite bonds, the miles covered by the mortgage.
Mtee or Par TaJMe.—Shows (in dollars unless otherwise marked) the denominations or par value, " 100, &o.," signifying $100 and larger.
Bate Per Cent.— The interest per annum is given for bonds, but unless otherwise indicated the per cent of last dividetid for stocks g. means goldj
X, extra s. stock or scrip per an. means per annum, so 6 per an. (M. & N.) means 6 per cent yearly, payable 3 per cent in May and 3 per
cent in November.
When Payable.—J. & J. stands for January and July F. & A., February and August M. & S., March and September A. & O., April and October ;
M. AN., May and November; J. &D., June and December; Q. —J., quarterly from January; Q.—F., quarterly from February; Q.— M.,
quarterly from March.
Bonds, principal when due ; Stocks, last dividend. —The date In this oolnmn shows the period when the principal falls due of bonds, but the tlm*
when the last dividend was paid on stocks.
;
;
:
;
;
;
;
;
;
,
;
;
;
;
Subscribers
ytIII
;
confer a great favor by giving Immediate notice of any error discovered In these Tables.
RAILROADS.
Miles
For explanation of column headings,
Date
of
of
&c., see notes
Size, or
"W
Alabama
290
290
290
290
Great Southern— CoramOTi
shares
Preferred "A" 8liares,6 per cent (cum. for 6 years)
Ist mortgage, gold
e
Gen. M. sterl. £1,1(10,000, red. at 110 June 1, '98 .c
Debentures, gold
Income certifloates sinking fund
Alabama Midlaiul^ComToon stock
Preferred stock, 6 per cent, non-cumulative
1st Mort, guar, by Sav. Fla. & W., gold
o
1st M., Sprague ta Luveme, $15,0()0 p. m, gold. .0*
Ala. N. O. Tex. <£ Pac. Jijnc.— Deferred "B" snares.
175
34
£10
£10
1878 $1,000
1888
£100
1886
£100
1888 Various.
tlOO
100
1888 $1,000
1890
1,000
£10
£10
£100
£100
£100
.
"A "
shares
"A" deben.. Income till Nov. 1895 —See text
c
"B" debentures redeemable after 1910 at 115..
"0" debentures, income, sulyect to call at 100
Alabama <f Vicicsbtirfi— Stock
Vlcksburg
1890
1890
1890
143
143
143
143
Meridian Ist mortgage
Ala. & Vicks. consol. IstM., ($1,800,000) gold....
2d mortgage, inc. for 5 years, non-cum., gold.
Albany tt Susq.— Stock, 7 j). c. rental D. & H. Canal.
Albany City loan (sinking fund, 1 perct. yearly).
Consoi.M. (guar. D. & H. endorsed on bonds). .c**r
Ai
.
142
142
100
1881
1,000
1889 100 Ac.
1889 100 &c.
100
1865
1,000
1,000
1876
Alabama fireat SoiitUern,— (^See 2[ap East Tennessee Virginia rf
fleoroia;.— Owns Wauliatchie, Tcnn., to Meridian, Miss.. 290 miles leases
Wauliatchie to Chattanooga, 5 miles total operated, 295 miles. Also
has trackage, Ga. Pac. RR., Woodlawn-Bessemer branch, 19 miles. The
;
;
Alabama & Chattanooga RR. was
sold under foreclosure January 22,
1877, and reorganized as now Nov. 30, 1877. An English company of
the same title owns all the stock of the American company, and is
Iteeif controlled by the East Tennessee Virginia & Georgia RR. Co., the
latter now in receivers' hands. A majority of the stock of the Chattanooga Union which see— was purchased in 1891 by the Ala. Gt. So.
Stock.—Of the capital stock of the English Company the East Tennessee Virginia & Ga. in April, 1890, purchased £340,000 "A" shares
and £783,010 " B " shares and pledged t hem to secure its Cincinnati Extension bonds. V. 50, p. 560. The English and American companies
own jointly $1,000,000 Cincinnati New Orleans <& Texas Paciflo stock.
After payment of interest on bonds net protlis are to be applied as
follows: (a) to (5 per cent on preferred " A " shares (b) to 4 per cent on
funded certificates (c) to appropriation of a sufticient sum to retire
funded certificates in 10 years (d) to dividend on " B " shares.
Dividends. On "A" assenting shares for period since December 31,
1887 (at wliich date unpaid dividends from December 1, 1885, to January 1, 1888, were funded on all except £11,500 non-assenting shares)
have been In 1889, 6 per cent; in 1890, 9 in 1891, 6 per cent in 1892,
May, 3. On Class " B" II3 per cent was paid November, 1891.
Bonds.— Of the general mortgage bonds unissued £484,00(5 are In
trust to retire the 1st mortgage l)ond8 and debentures at maturity.
Car trust June, 1892, including interest, $492,863.
Earnings.- From July 1. 1892, to Sept. 30, 1892 (3 months), gross
net, $61,023, against
earnings $439,219, against $463,970 in 1891
$104,496. Fiscal year ends June 30. Report for 1891-92 was in V.
In year 1891-92 gross earnings were $1,881,931; net
55, p. 721.
other
$444,730; other income, $20,000 interest on bonds, $248,220
charges not reported. In 1890-91 $1,942,981 net, $580,750; total net
Income, $620,751.— (V. 53, p. 324, 639; V. 54, p. 923; V. 55, p. T21.)
—
;
I
;
—
:
;
;
;
;
iSojw/s— Prinot
INTEREST OR DIVIDENDS.
pal,when Due^
Amount
Bate per When Where Payable, and by
Value. Outstanding
Cent.
Payable
Whom.
Par
Koad. Bonds
above.
Preferred
;
;
;
Alabama
Midland.—Owns from Bain bridge, Ga.,to Montgomery,
Ala., about 175 miles; branch, Sprague Junction to Luveme, 34 miles;
total owned, 209 miles. In July, 1890, the Plant In vestment Company,
owners of the Savannah Florida & Western, purchased control, and
road became part of their system. See V. .51, p. 50. Interest due
May 1, 1891, was not paid, and it was generally agreed to accept
6 per cent Interest till November 1, 1892, and then to scale
the Interest to 5 per cent, stamping the bonds principal and
Interest guaranteed in gold by the Savannah Florida & Western. There
No arrangement was made with
are $85,()0O bonds unassented.
tlie branch line bonds, mostly held l)y tlie Plant Investment Co. Gross
earnings in 1891 were $539,290. The Plant Investment Company owns
$2,425^000 common and $1,200,000 preferred stock.- (V. 51 p. 50; V.
62, p. 680, 898 V. 53, p. 186, 256, 368.)
lia
£1,566,000
£676,070 6 per an. M.
$1,750,000
J.
£476,000
J.
£134,000
F.
£53,257
$2,625,000
£810,700
$700,000
N.
&
&
1,600,000
2,800,000 See text. M.
500,000
6g. J.
£2,500,000
£1,500,000
1,000,000
516,800
700,000
3,500,000
1,000,000
10,000,000
Nov. 20, 1891
London,
do
&
&
&
&
I-
£748,850
£1,048,390
—
Last
Dividend.
Stocks
N. N.Y.,Met'politan Tr.Co. Nov.
Deo.
D.
May
17,
1892
N.Y.,Farm.L.cfeTr.& Bos Jan. 1, 1908
D.
London, Glyn Mills.
Deo. 1. 1927
Aug. 15, 1906
A.
do
do
By sink'g fund
do
do
J.
1,
1,
192&
192»
Nov.1,1910-40
& N.
See remarks.
Nov.l, 1910-40
& N.
See remarks.
Nov. 1, 1940
A. & O.
See remarks.
5 g.
Cincinnati, Otflce.
Nov. 17, 1892
Yearly.
3
Trust Co. Apr. 1, 1921
A. & O. N. Y., Central
6
Apr. 1, 1921
A. & O.
do
do
Apr. 1, 1921
do
do
5 g. A. & O.
7 per an J. & J. N.Y. ,DeL&Hud.Can.Co. July 2, 1892
1895-1897
do
do
M. & N.
6
April 1, 1906
do
do
6g <fe7 A. & O.
M.
M.
and in October, 1890, a plan of reorganization was brouglit out, imder
which the new debentures were issuedin 1891, the receiver being discharged in April, 1891. See details V. 51, p. 537. The fixed charges,
which formerly stood at about £130,000 per annum, were reduced to
£37,500 by the reorganization.
Stock and Bonds.— The preferred or "A" shares are 6 per cent,
cmnulative. Until Nov. 1, 1895, the "A" debentures are entitled toreceive interest only if earned, but unpaid interest is cumulative. Tbey,
as also the "B" debentures, are redeemable at the option of the company after Nov. 1, 1910, at 115. The "B" and "C" debentures are
both incomes for their full term, receiving interest only if earned, and
are a second and third charge on earnings respectively. The " C" debentures are subject to call at any time at par, on six months' notice.
Coupons on the debentures have been paid ^s follows On A debentures,
to and including May 1, 1892, all coupons in full to date. On B debentures In 1891 212 per cent; in 1892 in May (an interim payment) 1
per cent, less income tax.
Securities Owned.—The company holds the following securities,
viz.: Of Alabama & Vicksburg $30,000 Ist mortgage, $141,100 cou.sols,
$387,700 2d mortgage incomes and $387,700 stock; of Vicksburg Shreveport & Pacific, $3,692,000 1st mortgage, $1,364,000 3d mortgage,
of New Orleans & North
$494,860 incomes and $1,594,000 stock
Eastern, $4,900,000 1st mortgage and $4,320,000 stock of New Orfirst mortgage and $200,000
leans Spanish Fort & Lake RR., $300,000
common stock; of (Cincinnati Southern, $532,000 stock.
Earnings.— For 15 months ending Deo. 31, 1891, receipts trom investments were £76,496; after meeting general expenses, interest on
"A" debentures (for 14 months), &o., there remamed a balance of
£27,387, out of which 2>2 per cent interest was paid on the "B'" incomes, leaving unappropriated £1,833. (V. 50, p. 560 V. 51, p. 537.)
Alabama 4; Vicksburg.—Owns Vicksburg to Meridian, Miss., and
branch, 143 miles. It is mainly owned and controlled by the Alabama
New Orleans Texas &. Pacific Junction Co.—which see. The Vicksburg &
Meridian was sold Feb. 4, 1889 (see V. 48, p. 190), and reorganized as now.
Bonds.— The new seconds are income (non-cumulative as to earnings)
for five years, and are a first lien on the Vicksburg & Meridian lands
(120,789 acres), interest, if earnings fall short, being payable from
land sales when interest is paid from earnings the land sales go to
sinking fund for the second mortgage lionds. Trustees of mortgage.
Central Trust Co. of N. Y. All coupons on the incomes have beeu paid
to Oct. 1, 1892. Car triuits, $9,375, expire Jan. 1, 1893.
Dividends.— From November, 1890, to November, 1892, both Inclusive, 3 per cent yearly.
Earnings.— From July 1, 1892, to Sept 30, 1892 (3 months), gross
earnings, $139,036, against $149,701 in 1891; net, $7,000, against
$20,000. In year 1891-92, gross earnings were $692,741; net, $142,032;
In
interest, $120,702; dividend, $21,000; balance, surplus, $331.
1890-91 gross, $648,400 net, $149,905. (V. 53, p. 289, 712 V. 55,.
:
:
;
;
;
;
;
;
;
Jnnctlon (LimAlbany Sc Snsqnehanna.—C5ee Map Delaware rfflitrfson.;— Road
ited.)—This is an English company controlling tlie Alabama & Vicks- Owns Albany, N. Y., to Binghamton, N. Y., 142 miles. Branches,
buTg, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; New Duanesburg Junction, N. Y., to Schenectady, 14 miles; Cobieskiii,
Orleans & North Eastern, 195 miles and Spanish Fort Railway, near N. Y., to Cherry Valley, 21 miles; Lackawanna & Susquehanna RR., 22
Alabama Jiew Orleans Texas
Sc
Pacific
;
New Orleans, 13 miles.
In November, 1887, a receiver was appointed
miles;
East QlenvUle to Coons, 10 mUes; total operated, 209 miles..
r
)
.
November,
;
RAILROAD STOCKS AND BONDS.
1893.J
Immediate notice of any error discovered In these Tables.
Bonds — PrinciINTEREST OR DIVIDENDS.
Date Size, or
pal, When Due.
Amount
SnbBCiiberii will conrer a great favor hy Blvins
RAILROADS.
For explanation
of
on
Miles
of
Par
coUimn headini^B, Ac, see notes of
Road. Bonds Value.
page of tables.
tlrst
dt Kinzna—lat M., for $500,000, gold..c*
Allegheny Valley— CommOTi Btock tor $12,000,000..
Preferred stock for $18,000,000, 3 per cent ciim.
1890
When
Outstanding Rate per Payable Where Payable and by
Cent.
Whom.
259
259
132
110
242
259
$1,000
$485,000
50
XUegheny
10.544,200
15,«35.50O
4,000,000
10,000,000
1,700,000
.50
1866
1,000
1870
1,000
1870 100,000
1.000
1892
1889
1,000
....
100
100
£200
1889
o*
1st inert main lino (Kivcr Division)
iBtmort.. Eastern Kxten., gnar. by Penn. RK..C
Mort. to State Pa., $100,000 due Jan. 1, yearly..
General M. ($20,000,000) Kold, Riiar. p. & i..c*&T
3
Allentmen Termitial KR.—lut mortKage, guar, g'do*
20i2
Annapolis WashittffUm rf Haltimove
Arcadia, aitlf, Coasl, /;nA<-rrf~Stook ($1,500,000)..
71
Arizona t6 New ^feJ^eo.—1 st mortgage, gold
74
Ark. Midland.— l»t M. ($(i,000 p. m.)g.,rod.at llO.c*
c
66
Asheville £ Sparlanhnrg—lat mortgage, gold
c
66
2d mortgage, gold
Astoria li Portland.— lat niortgiige
Atchison Col. it Paciflc~lRt M.($16,000 p. m.) gn..c* 2.54
34
Atchison Jewell Co. if: irc«(.— Ist M.,guar.C. B.TJ.P.O
Atchison Topelcu d: Santa /^c— Stock
Guarantee ^lnd notes (ext'ded in 1891) red. at 100 471
Chicago & St. Louis 1st mort. ($10,000 per mile). 143
Old bonds not assenting to the reorganization.
General M.,gold (as to amount out see text).. c*Ar 6,619
o*Ar| 6,619
do. incomes non-cum., gold, red. atpar
o&r 6,619
New 2d mortgage gold, class A
do
class B, see remarks
c&r 6,619
do
Equip. Tr., Sor.A, g., $250,000 dm. y'rly at par..c.
Atchison System.— Alluntie <t raciftc.—
Guar, trust mortgage gold, (redeemable at 1 05) .c* 692
West. Divi.siou2uM. guar.,g. (s.f.drawiiatl05).o*
560
Inc. bonds, nou-oum,, W,D. ($18,750p.m.)..o'&r
1891
1885
1887
1892
1879
1879
1,000
1,000
1,000
1,000
1,000
1,000
1888
1885
5,000
1,000
100
5g.
F.
7-30 J.
A.
7
5
J.
&
500
500
500
500
500
1889
1889
1892
1892
1892
1887
1887
1880
1899
1910
1,
April 1,
May
N. Y., Central Tr. Co.
April, "92, coup, last pd.
July
%'
&c. 129,735,000
&c.
See text.
&c. 80,000,000
&c.
5,000,000
Ac.
2,500,000
Mch.
100,000 J«n.l
Mch. 1, 1942
July 1, 1919
July 1, 1892
London.Rr.LinenCo.Bk
April
July
1908
1911
1925
1937
1,
1,
1,
1.
1932
N.Y.Un.Tr.Co.ABoston. May 1, 1900
N.Y.Un.Tr.Co.ABoston. May 1, 1905
N.Y., Boston A Chicago. Nov. 15,1889
Bostn, Kidder, Peabody. Nov. 1, 1893
N.Y., Fann'sL. ATr. Co. Mch. 1, 1916
1,577,910
.
Dividend.
See remarks.
& J. N.Y.,Phila. A Pittsburg.
& O Phil., Pa. RR. Co. A Lon.
& J. PhUadelphla,Pa. RR.Co
& 8
do
do
&
New York and Phila.
& 3.
Baltimore.
M.
450,000
.r,
4 g. J.
358,000 See text. J.
500,000
£206,000
"eg. M. &"n.
133,000
6g. J. & J.
500,000
6 g. A. A O.
215,000
J. & J.
480,000
M. & N.
4,070,000
6
Q.-F.
542.000
Q.— F.
6
102,000.000 See text.
7,000,000
M. & N.
6
1.500,000
M. & S,
6
1,36(!,000
In default.
A.
£to«i:«— Last
Various.
-i'g.
5
g.
&
J.
Sept.
1.
J.
2>ato4g A. &0.
A.
5g.
1,000
18,794,000
1,000 See remarks
50 Ac. 12,000,000
J.
i»- J.
M.
A.
AG.
A
A
A
A
N. Y. Union Trust,
Boston and I>ondon. $
do
do
do
do
New York and London.
July 1, 1989
July 1, 1989
July 1, 198»
July 1. 1989
yr-ly $250,000
N. Y., Mercantile Tr. Co.
Jan. 1, 1937
)
J.
J.
8.
5
do
Sept
do
Oct
Oc
1,
1,
1907
1910
Atclilson Colorado & Pacinc— Owns Watcrvllle, Kan., to Wash;
Leaskd for 150 years from February, 1870, to Delaware A Hudson
Canal Co., which Julv 1, 1891, owned $450,000 stock; rental, 7 per cent Ington, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles
on stock and interest on l)onds. Additions and bettennents charged to Logan to Lenora, Kan., 25 miles; Downs, Kan., to Ball City. Kan., 24
lessors, and cost made part of investment. Bonds— The consolidated miles Yuma, Kan., to Warwick, Kan., 31 miles total, 254 miles. The
mortgage Is for $10,000,000, of which $3,000,000 are 7 per cents, cur- road forms an extension of the Central Branch Union Pacific, which
rency; the principal of the 68 Is also payable in " lawful money," but leased it in 1879 for 25 years, and guaranteed the bonds. Controlled byUnion Pacific, but operated by Missouri Pacific. Stock, $1,522,400
the interest in gold.
E,VRNIN09.— For three months ending Sept. 30, 1892, surplus over (par $100), of which U. P. owns .$920,300. Bent,il, $254,370 yearly
charges was $244,240, against $95,75i» in 1891. In year ending Juno
Atclilson Jewell Connty Sc Western.—Jamestown, Kan., to
30, 1892, gross $3,880, 164, against *3,790,1C4 in 1890-91 net, $1,681,- Burr Oak, Kan., 34 miles. Under same auspices and control as Atchison
672. agamst $1,533,573; iurjilus over charges, $505,055, against Colorado A Pacific. Stock, $202,800 (par $100), of which Union
$396,305.— (V. 53, p. 224, 714; V. .54, p. 289, 800; V. 55. p. 298, 806.) Pacific owns $1 05,000. Rental « 834,000 per annum.
Alleslieny Valley Rallwray.— Owns from Pittsburg to Oil City,
('See Jfnps.J— Line op Roab.—
Atchison Topcka &. Santa
Pa., 132 miles; branches— Red Bank, Pa., to Driftwood, 110 miles; The Atchison Topeka A Santa Fo leased and consolidated lines includeothers. 17 miles; total operated, 259 miles.
the main lino from Chicago. 111., to Kansas City (458 miles), and thenc«
Organization, Ac— Reorganization March 1, 1892, of the Allegheny to Denver, Col., 1,210 miles; also from La Junta, Col., via AlbwValley iJuiironrf, which went into receivers' hands in May, 1884, and querque, N. M. (on the Atlantic A Pacific), to El Paso, Tex., 601 miles
was sold In foreclosure on Dec. 15, 1891. Plan of reorganization, etc., branches In Kansas, etc., 2,771 miles total, 4,582 miles. In adilltion
was in Chronicle, V. 53, p. 324, 368, 520 V. 54, p. 409, 524. Road there are the Gulf Colorado A S.antaFe Ry. (owned absolutely), runcontrolled, as majority stockholder, by the Pennsylvania RR. Co.
ning from Galveston, Tex., to Purcell, Ind. Ter., 518 miles, and branches
STOCK authorized i^SO.OOS.OOO, of which $18,000,000 is cumulative 540 miles the Sonora Ry., from Negates to Guaymas, Mexico 262
3 per cent preferred stock. The amount outstanding is shown in the miles; the New Mexico A Arizona, 88 miles; the Southern California
table above. Tlio Pennsylvania RR. Co. received $10,000,000 pre- Railway, 491 miles; the St. Louis Kansas City A Colorado RR., 61
ferred and $8,251,050 common stock.
Leavenmiles. Roads owned Jointly with other railroad companies
Bonds.— Tlie general mortgage for $20,000,000 four per cent bonds worth Topeka A South Western, 47 miles Manhattan Alma A Burllnhas principal and interest unconditionally guaranteed l>y the Pennsyl- game, 57 miles Wichita A Western, 125 miles Atlantic A Pacific, 947
vania RR. by endorsement I'n each bond. Of these bonds $17,100,000 miles total owned Jointly, 1,270 miles (of which 1,123 now wholly con
ftieing the principal and 8 per cent additional of the prior Hens not troUsd). Total (including
"b mileage onerated Jointly), 7,130 miles.
divested) are reserved to take up the prior liens as they mature, and
To the above in !VIay, 1890, was addo'd the St. Louis A San Francisco
$1,000,000 are held for the future purposes of the company. The Railway (1,863 miles), and In October, 1890, tlie Colorado Midland (350
Fidelity Title A Trust Co. of Pittsburg is tlio mortgage trustee.
miles), making a gr.and total of 9,328 miles June 30, 1891.
The Pennsylvania RR. Co. guarantees to purchase tins interest on the
In November, 1890, under a tratHc arrangement with the Chicago
7 per cent 1st mortgage of 1870. The Pennsylvania RR. Co., the North- Peoria A St. Louis, a through Ime between Chicago and St. Louis was
em Central Ry. and the Philadelphia A Erie RR. are guarantors on the opened. See V. 51, jl. 608,
5 per cent loan of 1870. In the reorganization these companies reOrganization, History, Ac— The Atchison Topeka A Santa Fe Comceived certain securities. See V. 53, p. .520.
Eaknings.— From Jan. 1 to Sept.SOin 1892 (9 mos.) gross earns. $1,925,- pany was incorporated March 3, 1863. The main line of 471 miles was
opened Deceniber23, 1872. The whole system outside of this main line
150, agst. $1,871,882 in 1891 net, $757,370, agst. $752,991. In 1891
not, is nominally uniler ditfereut corpor.ations. of which the ownership 18
In 1890 gross, $2„592, 101
gross, $2,548,794; net $1,026,853.
$1,124,651. (V. 52, p, 705 V. 53, p. 324, 368, 520, 568, 921 V. 54, vested in the Atchison and the roads usually leased to it.
In August, 1884, an agreement was made through the Atlantic A Pap. 328, 405; V. 54, p. 409, 524.)
cific for the control of the Mojave Division of the Soutlieru Paciflo and
Allcntown Terminal.—Owns 3 miles of railroad in Allentown, for tralHc privileges over the Southern Pacific to San Francisco. The AtPa., connecting the East Pennsylvania (Philadelphia A Reading) with lantic A Pacific first and second mortgage l)onds are guaranteed one-half
the Central of New Jersey. Leased for 999 years to Philadelphia A each, severally but not jointly, by the Atchison and San Francisco cos.
Reading and Central of New Jersey (by assignment from Leliigh Coal A
In 1889 the company was reorganized by plan ot October 1 5, See
Navigation) at Interest on bonds and 5 per cent on $-150,000 stock (par the plan in V. 49. p. 504, and article on pp. 483, 597 also particiUars
$50), bonds being guaranteed, principal and interest, by Philadelphia A below. In 1892 the Incomes were mostly converted into second mortReading and Lehigh Coal A Nivvlgation.— (Y. 50, p. 422.)
gage bonds, payment of interest on which is obligatory— see below.
AnnapnllH IVaHhinstun & Baltimore—Owns road from An
In May, 1890, control of the St. Louis A San Francisco Railway Comnapolis to Annapolis Junction. 201^ miles. Organized in 1886. Divi- pany was acquired. $22,000,000 of Atchison stock being is.sued to piurdends In 1886, 2 percent; iu 1887, 5 in 1888, 4^3; in 1889, 4; in chase the San Francisco Company's $25,500,000 common and preferred
1890, 414 in 1891, 5H In 1892, 6%. No bonds.
stock. See V. 50. p. 734. The entire capital stock of the St. L. A San
Arcadia, Cinlf, Coast, Lakeland RR.— Under coiustruction Fr. is now owned. Through the St. L. A San Fr. full control of th»
from Lakeland, Fla., coimectiug with Northern and Western trunk Atlantic A Pacific is secured.
The Chicago Elevated Terminal Railway Company was organized in
lines, to Arcadia, and thence to deep water on the Gulf of Mexico; total
length, including In-anclies, about 200 miles, steel standard gauge. August, 1890, to furnish to this ro.ad .and other railro.ads a better
means of entering Chicago. In March, 1892, the real estate of the
Traverses the phosphate district of Florida. Laud grant 3,840 acres per
mile. Priv.ite citizens have donated lands said to be of consideri\blc value. Atchison in Chicago was sold for $8,102,264 to this Elevated Terminal
Stock for $500,fK)0 was ottered for sale at par in June, 1891. Stock Co., which Is in no way allied to the Atchison, but an entirely separate
authorized $1,500,000; par value $100. Office, 88 Lincoln Street, Boston. company. (See V. 53, p. 921; V. 54, p. 158, 287, 525.)
In October, 1890, the entire capital stock of
Arizona & New iTIexico.— Lordsburg, N. M., to Clifton, Arizona, ($8,000,000) was purchased. See V. 51, p. 608. the Colorado Midland
71 miles (3 ft. gauge). In year ending Sept. 30, 1891, gross earnings
Stock.— Company in September, 1892, reported $102,000,000 outwere $244,705; net (after deducting damages by flood), $111,791.
standing; New York Stock Exchange, $101,492,787.
In 1889-90 gross, .$233,253 net, $137,769. (V. 54, p. 403.)
Dividends- In 1879, 3 per cent; In 1880, S^; In 1881, 6 cash and 50
ArkansaH mdland,—Owns from Helcn.a, Ark., to Clarendon, 50
miles: Pine City to Brinklcy, Ark., 24 miles; total, 74 miles To be stock; from 1882 to 1886, Inclusive, 6 per cent; In 1887, BH; in 1888,
extended to Indian Bay, 12 miles. Successor in 1878 to tlio Arkansas 5>4; in 1889 and since, none.
Central, sold in foreclosure. In August. 1891, purchased the Brinkley
Price of Stock.- In 1886, 84''8®99% In 1887, gOSeSllSTg; in
Helena A Indian Bay RR., 24 miles, which is to be niado standard 1888, 5338®99>a; in 1889. 26^a>5S: in 1890, 23>a®5039; In 1891,
gauge like the rest of tlie ro.id. Stock, $1,500,000; par, $100. Mortr 2458^47%; in 1892, to Nov. 18, Inclusive, 323ea4658.
gage is for $516,000; bonds arc subject to call at 110 on three months'
Bonds The guarantee fund notes are secured by a second mortgage
notice. In year 1891 gross earnings were $95,255; net, $36,629; inof the Atchison main lino In Kansas and the deposit of the Chicago
terest, $5,291; balance, surplus, $31,338.
Santa Fe A California line and terminal stocks (in Chicago) with tlie
Anhevllle &. $partaiibiirjf.^/'5ee Map Richmond i£ Danville). — Boston Safe Deposit A Trust Co., trustee.
Owns from Spartanburg Junction, 8. C, to Asheville Junction,
Gcncr.al mortgage bonds for, $131,760,000 are listed on the N. Y.
N. C, 66 miles. Sold in foreclosure April, 1881, and reorganized. Con- Stock Exchange; the company, however, in September, 1892, reported
trolled by Richmond A West Point Terminal, which owns $1,047,981 only $129,735,000 as having been issued.
of the $1,050,000 Block, and .$215,000 second mortgage bonds, and has
"Tlie general mortgage 4s and, suhieet to these, the income 5s. are
Sledged them all (except a few shares of stock) under its collateral secured by one indenture to the Union Trust Company of Ne^r
•ust of 1889.
Default occurred on October, 1892, on coupons of tlrst York, Trustee, and cover the entire property of the company, all shares
mortgage— see Richmond A Danville. In 1890-91 gross earnings were of stock owned or controlled and named in ciroular 63 (V. 40, p. 504) alt
$163,293. against $130,117 In 1889-90; deficit under operating ex- bonds owned ,and pledged under trust deeds, and all securities deposited
penses, $11,692.
under the reorganization. The 4s were to !)e Issued to an amount not
Astoria Sc I*orll«nd.— Projected from Astoria to Portland. Ore.. exceeding $150,000,000 on present property, to carry out the reorgani120 miles, with branch 17 miles, was under construction fnun Clatsop zation plan, ami additional amounts at $20,000 per mile for exteiwlons
Junction to Portland. (See Vol. h5, p. 543.) In October. 1892. com- or double track. Interest on old incomes was paid as follows: In 1890,
pany reported llnaucially embarrassed. Stock authorized. $1,000,000; 2'4 percent: in 1891, 2 per cent; In 1892, '2^ per cent.
unbsoribed, $2,100,000. Mortgage trustee. Mercantile Trust Co. (V.
Abstracts of all the principal prior mortgages of the Atchison Topeka
55, p. 543.)
A Santa Fe Railroad Company were published in the Chronicle, v. 49
I
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Pc—
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8
INVESTORS'
SUPPLEMENT.
[Vol. LV."
MOVEMBKR,
1898.]
EAILKOAD STOCKS AND BONDS.
9
lO
mVESTOKS' SUPPLEMENT.
[Vol. LV.
NOVBMBER,
1893.
J
RAILROAD STOCKS AND BONDS
If
.
c
.
.
19
INVESTOJEIS'
Subscribers
irfll
SUPPLEMEJST.
[Vol. LV.
confer a sreat fhvor by g^Ttng Immediate notice of any error discovered in these Tables.
Bo7k/«— PrlndJ
INTEREST OR DIVIDENDS.
Miles Date Size, or
paUWhen Due..
Amount
Par
of
per Wlien Where Payable, and by Slocks— liOBt
For explanation of column headings, etc., see notes of
Outstanding Rate
Road. Bonds Value.
Cent.
Payable
Vi hom
Dividends
on first page of tables.
BAILEOAD8.
Atchison System.— Atlantic <e Pacific.— ( Concluded J
Central Div., 1st land grant mort., cimiulatlre. .e'
Income bonds, non-cum. ($18,750 per mile)..o* ....
Atchison Systetn— Colorado Midland
240
o*
1st mortgage, (l?25,000 per mile) gold
o*
267
Consol. mortgage for $6,000,000, gold, guar
c*
Equipment bonds, s. f ., drawn at 105, gold
bonds, B., dr'n at 105 after 1894, gold...o.
....
Equip,
Busk Tunnel R'y 1st M., gold, guar., red. at 105.
St. Louis <t San Francisco
Atchison System
2d mort. (now 1st), A, gold) (Pacific to 8en6ca,o' 294
294
> Mo.,& branches, o*
Series B, gold
294 miles.
o'
294
Series C, gold
)
105.0*
82
Mo.&Weet.EE.l8tM.,g.,$5,0O0yearlydr.at
103
Bt. L. & San F. col. trust gold, sink, f d. not drawn c*
964
Gen. M., g. (1st on 365 m.) $7,807,000 are 6s.c*
Collat.Tr. M.onbr'ches ($20,000 p. m.),gold..c*
55
Consolidated M. $50,000,000, gold, guar...c"&r 1327
Equip. M., gold, $80,000 dr. ann'lly at 105.0*
Equip. Trust, gold, $23,000 due each A. & O..
145
St. L. Wich. & West. Ist M., red. at 105, g., guar, .c*
62
Kan. C.<feS. W. lstM.,g.,r6d. at 110, int. guar..o70
8t. L. Kan. & S. W. Ist M., g., guar., red. at 110.
54
8t.L. Salem &Ark.l8tM.,gold,guar.,red. at 105.0*
Kan. Midland 1st M.,g.,$15,()00p.m., int. guar. .c 107
guar.
Ft. B. & Van Bur. Bridge 1st
, g., dr. at 105,
M
1,000
1,000
1,000
1,000
6,250,000
4,809.000
409,000
216,000
700,000
6g.
4g.
7g.
6g.
7g.
1876
1876
1876
1879
1880
1881
1887
1890
1880
1884
1879
1886
1886
1886
1887
1885
.
6
6
100 &0.
500 &c.
500 &c.
500,000
2,766,500
2,400,000
1,055,000
1,102,000
20,110,000
1,099,000
11,610,000
201,000
73,000
2,000,000
744,000
890,000
810,000
1,608,000
?86g.
gK6g.
6g.
1,000
1,000
1,000
1,000
100 Ac.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
$796,629
iiSe
6g.
5^-
4
g.
6g.
gK-
4 g.
6g.
409,000
Nov.
J.
1,823,000
1886
1890
1888
1890
1890
—
—
At Mat.
1871 $500&c.
1882
1,000
June
& D.
J. & D. N. Y., Central Tmst Co.
F. & A.
do
do
M. & S. N.Y.Baring,Mag^ & Co.
J. & J.
do
do
J. & J. N.Y., Continental Tr.Co.
M. & N. N.Y.Bar'g,Magoun Co
M. & N.
do
do
do
M. & N.
do
F. & A
do
do
F. & A. N.Y., U.S. Trust Co
N. > .Baring,Mago'nifeCo
N. Y., Union Trust.
A. & O.
A. & O. N.Y.Barlng,Mago'n&Co
do
do
J. & D.
do
A. & O.
d»
M. & B.
do
do
do
do
J. & J.
M. & 8.
do
do
do
do
J. & D.
do
do
J. & D
do
A. & O.
do
June
.v
1,
193»
Feb. 1, 1940'
1,
1,
1,
1898
190O
1935
Not.
Nov.
Nov.
Aug.
Aug.
July
1,
1,
1,
1,
1,
1,
1,
1,
1,
190S
190»
Apr.
1,
igio
Moh.
JaB.
July
<Si
.1
1, 19011
1, 1922
190e
1»1»
1920
1931
1987
Oct.
1990
Oct.
June
1895
A.&O, $23,000
Sept. 1, 1919
Jan. 1, 1918
Sept. 1, 19ia
Dec. 1, 1936
June 1, 1937
.1.
(V. 52. p. 40, 547, 570, 863
and of the general mortgage in V. 49, p. 857-861, and of the
V. 53, p. 21, 107, 125, 137, 474, 63»
in V. 55, p. 101.
898, eatf; 921, 923 v.' 54, p; ISS, 202, 242, 287, 525. 642, 886, 1029,.
V.
}8, 920,
p.
The second mortgage of 1892 covers all the property of the Atchison 1047; V. 55, p. 100, 101, 215, 297, 331, 421, 503, 722, 723, 765.)
named in circular 63 (see V 49, p. 504) and secures $80,000,000 of class
Atcbloon
Paclflc— CSce Hap).— L,mE or
A bonds, which were given in exchange dollar for doUar for the pres- Road.—Owns System.— Atlantic &.Isleta, N. M., near Albuquerque,Western division from
ent income bonds, the class A bonds bearing 2% per cent interest till
Atchison, Topeka *fe Santa Fe, to Big Colorado River, 560 mues,.
on
Oct. 1. 1893; then 3 per cent till Oct. 1, 1894; then 3^ per cent till Oct.
Leases from Big Colomaturity. The same mortgage with Gallup junction branch, 4 miles.
1, 1895, thereafter 4 per cent til
rado River to Mojave, Cal., 242 miles; Atlantic & Pacific junction toalso secures .$20,000,000 class B bonds, to draw fl-^ted interest
Albuquerque, N. M., 13 miles; branches to mines, quarries, etc., 1ft
at 4 per cent per annum but not more than $5,000,000 of this miles; total operated, 835 miles. Owns also Central Division, Seneca,
class can be issued in any one year. The proceeds of class B will be
applied only to specific improvemeuts (including equipment), on the Mo., to Sapulpa in the Indian Territory, 112 miles, operated by the 8t.
p. 546-551,
;
new second mortgage
;
.
,
;
mileageof the Atchison system as it existed as of July 1, 1892, exclusive
of the St. Louis & San Francisco and Colorado Midland roads. Under the
new mortgage the company will have the further right, when all the
class B bonds shall have been issued, to put out 4 per cent gold bonds
not exceeding $2,500,000 per annum, lor the same specific purnoses on
the same mileage to a total limit of $50,000,000. All the bonds to be
Issued under this mortgage have the same lien, no one having priority
Practically all the incomes have agreed to the exover any other.
change. See mortgage abstract, wit* plan of conversion in full, V. 55,
p. 101. Bee also V. 54, p. 870. 886, 1047, 1048 V. 55, p. 100, 215, 765.
FIXED Charges, Finances, &c. The company receives $30,000 a
month from the Sonora subsidy, payable In Mexican currency. Payments began In August, 1890, and will continue till $1,681,400 in all
has been paid. See V. 52, p. 49. As to the condition of the Atchison in
;
—
April, 1892, see V. 54, p. 642.
In August, 1892, the U. H. Circuit Court granted an iiyunction to
prevent the Texas State BR. Commission from continuing the extremely
low tariff for freight which they had prescribed about Sept. 1,1891,
and which it is claimed caused a loss to this company in the six months
ending Feb. 29, 1892, of about $300,000. See V. 55, p. 314. 332.
The fixed charges ahead of the stock, under the income bond conversion plan, suppo.sing all the incomes to have been converted into second
mortgage bonds, will be as follows during the next four years: lu year
& Sau Francisco Railway Co.
History and Stock.— Chartered by act of Congress July 27, 1866
an Imporlaut link in the Atchison system. Authorized stock $100,000,000 (par, $100), of which $79,700,300 has been Issued, $51,503,800 ot
this being owned by the Atchison Topeka & Santa Fe and the St. Louis
& San Francisco companies equally and deposited in trust for thirty
years. The stock is classed thus: Western Division, common stock,
Louis
$78,281,600; Missouri Division, preferred, $78,7(X>; Central Division^
preferred, $1,400,000.
Bonds.— The trust bonds due in 1937 are guaranteed severally (but
not jointly) by the Atchison and St. Louis & San Francisco, each company guaranteeing one-half of each bond. They are redeemable at any
time at 105.
The 2d mortgage bonds liad same guarantee as first
mortgage; but the bonds have been retired from circulation by theguarantors though the mortgage is kept alive and they draw the 6 per
cent interest on it. [Abstracts of all the mortgages in V. 49, p. 302.)
Purchase from So. Pac— In 1884 the Southern Pacific sold the 242
miles of road from Mojave to The Needles, to this company for $7,271,100, payable in Atlantic & Pacific first mort. bonds, issued on said 242
miles to amount of $6,059,250, and $1,211,850 in cash. Until clear titl&
to this piece of road is given, the Atlantic & Pacific has possession ancl
pays 6 per cent per an hum ou the $7,271,000. The same negotiationgave a right to rim through trains to San Francisco over the Southern,
and Central Pacific Hues either on a mileage basis or at 3 per cent per
annum on $40,000 per mile. Bee V. 39, p. 208; V. 40, p. 50.
Land G rant.— The grant claimed under the old A. & P. charter of July
1866, is 25,6(X) acres per mile in Territories and 12,800 acres in States..
On the Western Division the company has earned under its grant 20,295,296 acres of land, 5,324,181 of whichwere sold to Juno 30, 1891,.
leaving 14,971,114 acres undisposed of. A map of the land grant was
published in the Chronicle, V. 36, p. 468.
Earnings.— In year ending June 30, 1892, gross were $3,361,400,.
against $3,253,977 in 1890-91 net, $550,064, against $23,323. In1890-91 fixed charges, $1,817,053; deficit, $1,793,730, against deficit
in 1889-90, $1,307,360. (V. 53, p. 603, 753, 793 V. 55,,p. 638.)
1892-93, $10,200,000; in 1893-94, $10,700,000; in 1894-95, $11,300,000; in year 1894-95, $11,900,000; thereafter, if no further second
mortgage bonds are necessary, $12,000,000. The charges as here
stated include taxes, rentals, car trusts and interest, but no contingent
charges. See circular, V. 54, p. 887.
Earnings.— From July 1, 1892, to Sept. 30, 1892(3 months), gross
net, $3,556,801, against
10,163,576, against $9,509,300 in 1891
t 3,151,612 ; including the St. Louis & San Francisco and t'olorado Midland, net earnings were $4,801,807, against $4,189,768; interest and
rentals, whole system, $3,582,000, against $3,576,000 balance surplus, including miscellaneous Income, $1,444,807, against $838,768.
Annual Repokt.— Fiscal year ends June 30. Annual meeting is
held on last Thursday in October. The Items of earnings and operatAtcblson System.— Colorado midland.— CSee Hap.j-Owna
ing expenses below for the year 1891-92 ai-e fiom an sidvance official
statement, in wliich the income account was not given. For the re- from Colorado Springs to New Castle, Col., 234 mUes; Asjwn branch, 1ft
on the Colorado Midland and the St. Louis & San Francisco, not miles: Jerome Park branch, 15 miles; leases New Castle to Rifle Creek,
sults
here included, see those companies. The annual report for 1890-91 14 miles; Rio Grande Junction RR., Rifie Creek, Col., to Grand Junction^
on the Rio Grande Western, 62 miles; other, 7 miles total, 350 mlles..
was given at length in the Chronicle, V. 53, p. 920, 923.
lu April, 1892, it was repoi-ted that an 18-mile branch would be built
OPERATIONS AND FISCAL RESULTS.
to Cripple Creek. The Busk Tunnel is still under construction.
1890-91.
1891-92.
1889-90.
History and Stock. Completed October 15, 1888, and in October.
7,130-23
7,110
7,114
lines operated June 30
purchased entire capital stock
$7,248,694
$6,610,034
$7,377,995 1890, the Atchison Topeka & Santa Fe
Passenger earnings
of $8,000,000. See V. 51, p. 608.
23,329,649
21,733,154
25,803,383
Freight
Bonds.— Abstract of first mortgage in V. 45, p. 540, and of conso
742,917
871,550
895,910
Mau:
764,552
769,241
809,732 mortgage in V. 51, p. 572. Central Trust Company is trustee of both.
Express
1,444,582
1,153,700
1,551,167 The consols are guaranteed (by endorsement on the bonds) a»
Miscellaneous
to both principal and interest by Atchison. Both issues of equipment
$31,004,357 $33,663,716 $36,438,188 bonds are redeemable by sinking funds at 105, and are to be paid at
Total gross earnings. . .
maturity at same rate. The Busk Tuunel bonds are guaranteed princi$4,842,149
|$5,074,672
$4,954,113
Maintenance of road, &o..
and are redeemable beforei
2,670,736
3,399,204
4,064,561 pal and interest by the Colorado Midland
Maintenance of equipm'nt.
142, 248.
12,334,867
14,482,151
14,956,485 maturity at 105. See V. 51, p.
Transportation and tralBc..
Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months), gross1,072,634
1,087,142
1,235,773
General
$581,353, against $538,309 In 1891; net, $120,6-25, against $136,138.
In year 1890-91 gross earnings on 319 miles were $1,968,2(>5; net,.
Total operating expenses. $20,920,386 $24,043,169 $25,210,933 $581,367; fixed charges, $()52,-276; deficit, $70,908. In 1891-92 gross,.
$9,620,547 $11,227,255
$10,083,971
»et earnings
$2,103,600; net, $563,583. (V. 52, p. 238; V. 53, p. 256; V. 50, p. 551.)
67-48
71-42
69-19
earns.
;
;
;
;
;
—
P«r c.
of oper. ex. to
Atcblson System.—St. E.ouls & San Francisco.— r<Sce Map.)
INCOME ACCOUNT OF CONSOL. SYSTEM FOR YEAR 1890-91.
Owns St. Louis. Mo., to Seneca, 326 miles Pierce City to Wichita,
$9,620,547 Kan., 217 miles Monett, Mo., to Paris, Tex., 303 miles branches, 197"
Het earnings
770,156
Add income from investments, &o
mUes; total owned June 30, 1891, 1,043 miles. Leases 282 miles, and
Western.
lialf owns the Atlantic & PaclHc Central Division, 112 miles
$10,390,702
Total net Income
Division, 835 miles; Wichita & Western, 125 miles; total (counting one$420,000 half of mileage half owned). 1,862 miles.
Interest on guaranteed fund notes
••
5,0'24,286
" 4 per cent generals
Organization, ifec— This company was organized September 20
"
"5 percent incomes (2 p. ct.)
1,587,791 1876. as successor to the Atlantic & Pacific in Missouri. In May, 1890
"
" other bonds (including Atch. share of A. & P.)..
47».255 the Atchison Topeka & Santa Fe Railroad Company assumed control..
614,979 See Chronicle, V. 50, p. 734, 771.
Bental of track and rolling stock
218,133
Rental of Mojave Div., A. & P. RR. (one-half)
With the Atchison this company guarantees severally, not Jointly ,1,240,018 one-half the first and second mortgage bonds of the Atlantic & Pacific,,
Taxes
(underagreementof Oct., 1886)..
260,302 ot whose securities It owns $27,931,450 stock, $777,000 Central DiviSt. Louis *i-'iin Fran.Ry.
92,395 sion incomes, $331,500 Western Division incomes and $2,293,000 secMlsceilaneons
ond mortgage bonds.
$9,936,149
Total. 6,luctioiis
Capital Stock.-The common stock is $35,500,000; preferred
;
;
;
;
Balance, Burplup
—
^54,553
(7
per cent non-cumulative), $10,000,000; Ist preferred
(7
per oenti
.
KOVEMBKR,
r
RAILROAD STOCKS AND BONDS.
1898.]
la
confer a great favor by elrlUK Immediate notice of any error dUcovered In theae Tables.
B<md«— Prlnol
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Dna.
Amount
of
Par
^''«° Wbere Payable and by StocA;*— La«t
Cor explanation of column headings, <&o., see notes of
outstanding
Road. Bonds Value. Outk'tan'dln<r g^^f
Payable
Whom.
Dividend.
on Urst page of tables.
Subacrlbera
ivlll
RAILROADS.
^^ W
{
AHanto <(OAarto««—Stock (5-6
p. o. rent. Rich.
& D.)
Preferred mortgage, redeemable at 100
Ist mortgage
Income bonds (not ctunulatlve),
J.llanta <e Florida Stock
Ist mortgage ($8,000 p. m.) gold
—
guaranteed
269
—
1880
rf
500
25
1889
1,000
97
certlttcates
Atlantic City— Common stock
Preferred stock
Ist m., gold, guar, (end.) by P. & R
o*
AUantieit Danri/ie— Ist mort. gold, $16,000 p. m.o*
Atlantic <t St. iuwrence— Stock, (J;«rentalOrandTr'k
Auffusta I* Savannah— Block 7* rental Central Ga.
Austin dc Northicettem—lat mort. for $125,000. ..
Mort.. $20,000 p.m., gold, gu. p. & 1. So. Pac.o*&r
Bald Eagle Vntfet^— Ist mort. (s. f., drawn at 100)..
Baltimore Bei(— 1st mortgage, gold, interest guar.o*
Bait, it Eastern Shore— Couaol. mortgage, gold, 0*4r
Baltimore
1,000
1,000
105
105
86
c'
Attanlait West l'oi)H—Stoc\c.
Debenture
$100
265>s 1877
r 26S>s 1877
o*
1881
1,000
1889
1887
1,000
1,000
97
83
283
151
53
76
103
90
8
87
84
40
44
44
/y^Ajf/A.— Stock
York & Peacli B. Ist & 2d mortgages
Maryland Central Ist M., int. 4 p. c. tillJan., 1899
General mortgage for $7,000,(X)0, gold
Baltimore t£ Ohio Stock (see remarks)
1st and 2d pref. stock, cum.. $3,000,000 Is Ist pref
Loan due in 1880. extended.jiayable at will...
Loan, 1853, extended in 1885, gold
Loan, 1870. sink, fund £16,000 yearly, not drawn
Mortgage 1872, sink, fund £12,000 semi-annually
Mortgage 1874, sink, fund JS9,(XX) semi-annually.
Bond to Caty Baltimore (payable $40,000 yearly).
Consolidated mortgage (for $29,600,000) gold.c*
—
100
50
50
100
100
1889
1891
1880
1890
1890
1,000
1,000
1,000
1,000
1,000
1882
1889
1889
50,Ao.
100
500<fco.
1,000
100
100
379
379
379
421
421
379
511
1853 500 &0.
1853 500 &e.
£200
1870
1872
£100
£200
1874
1875
1887
1,000
non-cumulative), $4,500,000— par, all, $100. The stock is all owned!
by the Atchison Company.
Dividends on tlrst preferred stock— From 1881 to 1889, inclusive, 7
per cent per annum; In 1890, February 2 per cent; since, none.
Bonds. In 1891 the company made its consolidated mortgage for
^150,000,000 of 4 per cent gold bonds, covering aU its property, equipment and lauds, sul)Joct only to $36,077,500 diieit mortgage bonds of
the company on its own and lea.sed lines. Sutlicieut consols are reserved to retire tliese prior liens at maturity and $13, 932, .500 were available for the following purpo.ses: (1) For retirement of .$2,800,000
Atlantic &, Pacltlc Railroad Company's 2d mortgage 6s, guaranteed
by St. L. & San F. (2) For completing the road and placing tlio property In sound financial and physical condition. (3) For exchange at
par for $4,500,000 of Ist preferred stock. See V. 55, p. 297. The consolidated bonds are guaranteed, principal and iuterest, by the Atchison
Company, and are so stamped. A full abstract of consolidated mortfage was in V. 54, p. 244. The 1st i)ref. stock and most of the A. &. P.
d 6s have thus Ijeen retired.
Land department assets were estimated June 30, 1891, at $493,048.
Latest Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months),
•cross, $2,604,940, against $2,280,709 in 1891; uet, $1,124,381, against
$902,018.
AsNDAL Report.— Fiscal year ends June 30. Report for 1890-91 was
In V. 53, p. 920, 933 and the following is for the St. L. & S. F. proper.
Years end June 30.—
1889-90.
1890-91.
1891-92.
Grosseamlngs
$6,394,069 $6,748,508 $7,053,228
OperaUng expenses
3,479,381
3,840,859
4.013,184
j
—
Net earnings
Other income
$2,914,688
100,933
$2,907,650 $3,040,044
72,926
Total
$3,015,621
$2,980,576
Fixed charges (including $344,780
for equipment and improvements
2,512,000
In 1890-91)
7
7
6
M.
A.
&
J.
A.
(fc
6g. M.
See text.
6
S.
O.
<b
&,
J.
J.
3.
O.
AN.
& J.
4 J.
5g- M. & N.
«K. A. i O.
5g. M.
&
&
*
.&
&
5g.
J.
<b
5
do
do
do
do
do
do
1892
1897
1907
1900
May, 1892, coupons
Nov.
1,
1939
April
Jan.
on.
July, 1892
Co'B option.
Atlanta, Ga.
Atlanta, Oa.
Phila., 227 South 4th St.
Oct., '90, coup.last paid.
May
6
Sg.
J.
J.
6
F.
4-5
J.
5g- M.
See text M.
6 i.er an J.
4
3.
4g. A.
6g. M.
6g. M.
6
g.
6
5g.
M.
J.
F.
8.
London and Portland.
D. Savannali, Co.'s OIBce.
J. N. Y., Atlantic Tr. Co.
J. N. Y., Sn.l'. Co. 23 Broad
A. PhUa^ F. Ina.Tr. &8. Dep.
N. N.Y.,Brown BroB.J^Balt
<fc
J.
&
&
&
&
&
&
&
&
&
Dec, 1892
1, 1899
Jan.
July
1941
1903
1990
July, 1920
Jan.
Nov.
In default.
York, Pa.
J.
Baltimore.
N.
do
N. Bait. Office, Cent. Bldg.
<fc
1919
1,
Oct. 1, 1917
Sept., 1892
Various
6 per an M.
7 per an J.
.
AorU
6,
1,
1,
1,
N.Y.Cent.Tr.Co.,54WaU Sept.
1,
1,
1,
1932
1. 1919
1939
Nov. 6, 1892
July 1, 1892
Jan.
do
do
do
do
At will.
do
do
Oct. 1, 1935
S. Lond'n, Baring BrosACo Moh. 1, 1895
do
8.
do
Mch. 1, 1902
N. LoudoUjJ.S.MorganACo
May, 1910
3.
J.
<fe
O.
3.
A.
Baltimore, Oilice.
July, '93-1900
N. Y., Union Trust Co, Feb. 1, 1988
Claromont
(3 feet gauge) 51 miles; branches, 28 miles; trackage, 2
miles; total, 285 miles, of which 56 miles 3 foot gauge. In January,
1891, receivers were appointed. Receiver is now Alfred P. Thom.
See. V. 52, p. 80. In Marcli, 1891, $250,000 receiver's certificates
were autliorized. Trustee of mortgage, Mercautile Trust Co. Stock
authorized, $20,000 per mile; outstanding, $3,754,890; par, $100; car
trusts, $313,960 Juno 30, 1891; current liabiliiios, .$627,172.
—
E-utNiNCs In year ending June 30, 1891, gross earnings were $498,263; loss from operation, $39,017. In 1889, gross, $333,356; net,
$173,431. (V. 50, p. 70, 243 V. 52, p. 80, 462.)
;
Atlantic & St. l.awrence.— Owns from Portland, Me., to Island
Pond, Vt. (and brancli), 151 miles, there connecting with Grand Trunk
of Canada, to which leased for 999 years, August 3, 1853, at a rental
equal to bond interest and 6 per cent on stoelj. The funded debt consists of 1st, 2(1 and 3d mortgage bonds, in all $3,000,000, which the
Grand Trunk holds and iias pledged for its de)>euturo stock. The stock
of $5,484,000 is mostly £, with dividends pavable in London.
In 1890-91 gross earnings were $1,141,618; net, $243,658; deflolt
under interest, &c., $291,661, against $261,041 in 1889-90.
Augusta
miles.
&.
Savannah. ^Owus from
Leased in perpetuity
Milieu to Augusta, Ga., 53
Georgia for .$73,000 per
to Central of
annum. Has no bonded debt. From March 4 to Sept. 30, 18i)2, gross
earnings were $120,040; net, $38,235. In year 1890-91 gross, $232-,
405; net, $72,310, against $95,452 in 1889-90; rental, $73,000.
&
Austin
Northwestern.—Owns from Austin to Granite Mountain, Texas, 74 miles, and from Fairland to Llano, 30 miles; total, 103
miles, all standard gauge. In 1892 control was acquired by parties
interested in the Houston <fe Texas Central. Road opened in 1882;
foreclosed in 1885; company reorganized in April, 1888. Stock authorized, $750,000; outstanding;"$724,000; par $100. The land grant was
600,000 acres. Mortgage trustee Atlantic Trust Co. The bonds have
—
Balance
8ur.$443,621 def.$99,344
204, 351, 499, 547, 570, 643, 081, 718, 796. 862, 863, 899;
V. 53, p. 641. 920. 933 V. 54, p. 244, 276, 1048; V. 55, p. 100, 297.)
Atlanta &. Charlotte Air Ijtne.—Owns from Charlotte, N. C, to
Atlanta, Ga., 269 miles. The Richmond & Atlanta Alr-Liue was sold
under foreclosure Decembers, 1876, and the existing corporation was
formed February 37, 1877. Leased on March 26. 1881, to the
Blclimond & Dauville for 99 years, at a rental of $466,500 iier year,
«Qual to the iuterest on del)t and 5 per cent on stock; if gross earnings
of Atlanta & Cluiriotte Air-Line exceed $1,500,000, dividends to be 6
jper cent; and if they exceed $2,.'>00,000, 7 per cent. Due Richmond &
Danville for bettenueuts, as per tliat company's italance sheet on June
30, 1890, $1,220,170. Richmond &. Danville went into receiver's hands
dn June, 1892.
Dividends have been— From 1881 to 1889, Inclusive, 5 per cent yearly;
in 1890, 51a; in 1891,6; in 1892, March, 3; September, 3 per cent.
Earnings on portion of road in South Carolina were from Jan. 1 to
.Sept. 30, 1892, (9 months) were $519, 101. against $592,915 in 1891. In
1890 gross earniugs were $1,687,335, against $1,516,416 in 1889.
Atlanta ic Florida.— Owns from Atlanta southerly to Fort Valley,
"Oa., on Central (ieorgia Railroad, 105 miles; extension to tidewater pro
lected. This is tlie Atlanta & Hawkinsville, incorporated in 1886; name
changed in 1887. Early in 1892 receiver.s were appointed. V. 54, p.
287. Sole receiver now is T. W. Garrett. Trustee of Urst mortgage for
$1,200,000 is Central Trust Company. Car trusts Augu.st, 1890, $64,000.
From January 1 to June 30, 1891 (0 months), gross earnings on 105
miles were $48,3.")6, against *19,243 in 1890. In Octolter, 1892, gross,
13,401. against $16,113 in 1891. In 1890 gross earnings were $128,f42; net, $7,550. (V 54, p. 287.)
Atlanta &. l»^ci»t Point.—Owns fiom Atlanta, Ga., to West Point,
Ga., SOMj miles. In April, 1881, a coutrolliug iuterest in this eoiupauy
was acquired by tlie Central (ieorgia through purcliase of $1 88,300 stock
.and the lease of the Georgia Railroad, under whlcli lease $^140,900 stock
Jrad the same amount of debt certitieatos are lieid. Any mortgage
Issued must l)e subordinate in lien to the dividend certillcates.
Dividends were begun in 1855 and for many years were 8 percent
per annum. From Jan. 1, 1884, to July 1, 1892, at the rate of 6 per
;
i>er annum.
Earnings— tl-om Jan. 1 to Aug. 31, 1892 (8 months), gross earnings
were $27 1,078, against $283,395 in 1891. In year ending June 30
1891, gross earnings were $483,054 net, $126,418 in 1889-'90, gross'
cent
;
See text
principal and interest guaranteed by the Southern Pacific Company.
Earnings— From October 1. 1891, to July 31, 1892 (10 months), gross
earnings were .$218,238; net, $98,795. Charles Dillingham, President.
(V. 54, p. 1009.)
3,079,920
— (V. 52, p.
•
$1,700,000
500,000
4,250,000
750,000
1,115,000
840,000
1,232,200
1,232,200
1,200,000
1,000,000
2,200,000
4,952,000
5,484,000
1,032,200
104,000
1,670,000
360,000
6,000,000
1,450,000
3,375,000
250,000
850,000
900,000
25,000,000
5,000,000
579,500
1,709,500
3,454,792
9,301,512
9,634,504
320.000
10,100,000
;
«473,i41; net, $168,363; interest naid, $73,932; divid's (6 P.O.), $73,932."
Atlantic City.— Camden to Atlantic City,54mile8; with branche8,&c.
of 43 miles, of wliiih 14 miles leased. Consolidation in 1889 of the
Phlli«lelpliia & Atlantic City KR. and other lines. Controlled by Phila-<lclpliia ic Kea<ling UK. Trustee of mortgage. O laranteo Trust & Safe
Deposit Co. of Pliiladelphia. Floating dubl Januarv 1, 1891 $648,290.
Di year 1891 gioss liHmings were $805,647; net over expenses,
*1 23,567. (V. 52, p. 824.)
,
Atlantic dc DanTllIe.—Completed February, 1890, Portsmouth
/»ear Norfolk, to Danville, Va., 204 miles, and James River Junction to
Bald Eagle Valley.—Owns from Vail
Station, Pa., to
Lockhaven
branch to Bellefonte, Pa., 3 miles Nittany branch, 10
to Sugar Cami>, 26 miles; total operated, 90 miles.
Leased to Pennsylvania BR. Co. for 99years»from December 7, 1864.
Rental, 40 per cent of gioss earnings. Rental, in 1891, $254,866;
rental, etc., in 1890, $265,007 surplus over fixed charges, $226,816,
out of which paid dividends (10 percent) $140,623. Stock is $1,406,250
(par $50), of which Pennsylvania RR. owns $706,250.
Dividends
are paid February and August at Treasurer's office. (V. 49, i>. 82.)
Pa., 51 miles
;
;
mUes; Snowshoe
;
Baltimore Belt.—See Baltimore & Ohio.
Baltimore & Eastern Shore.— Owns Claiborne
to
Ocean City
Md., 89 miles; from Claiborne to Baltimore, 42 miles, transfer
Is
made
History.— Completed In December, 1890, and in April,
1891, Capt. Willard Thomson was appointed receiver. (See V. 51, p.
718.) In April, 1892, tlie Maryland Legislature passed an act
by water.
authorizing the city of Baltimore to acqim-e a eoiitrolling Interest
in the stock of this company by guaranteeing both principal and interest of its 3»2 percent tlrst mortgage lionds for $900,000. If the
bondholders assent it is said tliat the present $1,450,000 bonds will be
exchanged for the new 312 per cents and the dillerence given iu second
mortgage bonds at par. The City Council ailiourued until September
without taking action in the matter, and nothing had been done about
it prior to Nov. 4, 1892.
In 1891 receiver's certificates for $35,000
were issued. Stock paid in, $.300,000; par, $50. Earnings— Foreight
months and ten days ending Dec. 31, 1891. gi-oss, $74,288; net, $17,799.
In addition ferry to IJaltimore operated only during last 2 >. months
had net earnings of $1,474, while ferry (now discontinued) to Bay
Ridge had a deficit for first b^ months of $7,488.
Baltimore dc LehlKli.—Owns from Baltimore, Md., to York, Pa.,
79 miles, and branch to Peach Bottom, 5 miles total, 3 foot gauge
84 miles. In May, 1891, the Maryland Central and tlio York & Peach
Bottom railroads were consolidated under this title. The Maryland
Central first mortgage bonds bear 4 p.c. iuterest till 1899; therea'fter 5
per ct. In 1890 gross earnings were $231,154; net, $54,280, against
$54,320 in 1889; surplus over charges in 1889, $21,617. President,
William Gilmore.— (V. 53, p. 58.)
Baltimore «c Ohio.— r See JfoT);.- Operates from Baltimore to Philadelphia and Baltimore to Chicago, and has, via tlie Baltimore & Ohio
Southwestern, a direct route to Ciiiciiinati, 393 miles, the total mileage
lea.sed, owned and operated f^excluding the Baltimore <fe Ohio Southwestern) being ou July, 1892, 1,999 miles, <ii which 735 miles are
west and 1.244 miles cast of the Ohio River also oiicnites the Valley
Railroad of Virginia (which see) 62 miles, and controls the Valley of
Ohio, the Baltimore & Ohio 8. W. and the Staten Id. Rapid Transit, and
is interested in the Ohio ii Mis8i.s,sippi (see those eompanics).
HisTt)RV, Leases, Ac- The corporation was chartered in Mar\ •
laud February 28. 1827, and In Virginia March 8, 1827. First section
opened May 24. 1830. The Baltimore A; Ohio Telegiaph Company's stock
owned by the Baltimore & Oliio Railroad Comjiany was soiil out In
Western Union tor $5,000,1)00 Western Union stock a! par and s rental
of $60,000 per year for fifty years.
;
:
nnnESTOES' supplement.
[Vol. LV.
.
NOVUMBKR,
:
.
KAILROAD STOCKS AND BONDS.
1892.]
19
Sabacribem irlU confer a Kreat favor by kItIuk Immediate notice of any error dlscoTcred In these Tables.
hondt—VrtatXINTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,Wlien Due.
of
Par
ot
Stocks —
For explanation of colmnn headings, Ac, see notes
Road. Bonds Value. Outstanding
Last
Dividend.
I
on
tlrgt
page of
tables.
Cent
.
Baltimore <t Ohio— (Concluded. )—
Loan, 1877 (b. f. dr'n .at 1 00) (B.& 0.&Cli.l)ds.ool'l)c 263
N. W. Virginia RR. 1st M. (oxt. In 1888) assunLO \ 104
B. & O. loan 1879 (Parkerab'g Br. houda coUat.) S
I
Mort.on PUlla.Br., with Bait. Al'liila. bds.aacol.. 108
Wa«liC.&P.L.(Alcx.Br.) l8tM.g.s.f.$yf!,000 p.an
12
Pittsburg & Couuellsville Ist mortgage
149
Consol. niort., gold, guar. (».-f. *7,200 per yr.)
149
149
B. & O. loan, 1885,g. (Pi
S5,g. (Pitts. & Conu. bda. as ool.)
.
Car trust loan, gi)ld
(.f'J.50,0O0pd. yearly Jan.l).c
trust ($100,000 paid yearly April 1)
Equip, trust, Ser.B.,$'200,000 due y'rly Nov. l.c*
ScUuyl. R. East Side RR. 1st M., g. (guar.)
(
®? Monougaliela River RR., Ist M., g, gu...o*
%h < Bait. <& N. Y. RR., 1st M., gold, guar., .c&r
Alirou & Chicago Juuctioii IstMi., gold..o*
'^PH
Balt.Belt.l8tM.forii!G,000,000,g.,iut.gu.o*
ealt. A Ohio Southwest.— 8tai:]L (.^2,500,000 is pref.)
Cincinnati & Baltimore Ist mortgage
ist mortgage (guaranteed by Bait. & O.) gold..c*
1st pref. income mort., not cumulative, gold. .c*
2d pref. income mort., not cumulative, gold... c*
3d pref. income mort., not cumulative, gold... o*
Equipment
^m
10
32
I
5
^a
73
8
I
.
B.&O.S.W.Term.Co. lstM.($l,5OO,OOO)g.gu.pAi.•
0a^<. it Potomac— IstM. (tim.) g., s. f.l p.c.,uotdr'n.c'
l»t M., road, guar., gold, 8. f. 1 p. c., not drawn. .0*
Consolidated mortgage for $10,000,000, gold..o*
Bteeh Cr«A— 8toelf (guaranteed 4 per cent)
oAr
Ist mortgage, gold, guar, by N. Y. Centrsil
2d mortgage for$l,000,O0O, gold, guar. p. & i. c&r
CleartieldBitum. Coal Ist M.,gu. by Bh. Cr., gold.
1877
1855
1879
1883
1873
1868
1876
1885
1887
1889
1890
1886
1889
1889
1890
1890
281
281
281
281
iia
90
92
132
132
132
$7,008,320
,140,000
3,000,000
11,616,000
540,000
4,000,000
6,567,880
10,000,000
1,250,000
700,000
1,600,000
4,500,000
700,000
350,000
1,500,000
6,000,000
5,000,000
333,000
10,667,000
5,500,000
6,400,000
7,700,000
1,000
«200
1,000
$1,000
£200
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
281
5
ie200
$1,000
1869
1889
1889
1889
1889
1892
1871
1871
1889
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
J.
J.
6
A.
4'flg. A.
««•
A.
M.
J.
F.
M.
M.
H.
g.
"Y'
*
&
ft
ft
ft
ft
ft
ft
ft
ft
D. London,J.S.Morgan4Co June 1, 1927
J. Baltimore, B. A O. RR. Hch. 1, 1903
O. N.Y., D. M. 4 Co. 4 Bait. Apr. 1, 1919
O. London, Brown, S. 4 Co. Apr. 1, 1938
Bultiiuoro, Ofllce.
June 1, 191S
D.
J. Baltimore, B. ft O. BB.
July, 1898
J. Lond'n,.J.H.MorganftCo. Jan. 1, 192a
A. N. Y., Union Tmrt Co. Feb. 1, 193S
J. Balt'me, Merc. Trust Co. 10 p. c. yearly.
O. PUila., Hn'ce Co. of Pa. 1893 to 1899
do
do
iNv.l," 93-1900
N.
D. Phila., Solicitors' Co.
Dec. 1, 19S5
N. Y., Central Trust Co. Feb. 1, 191*
A.
N. N.Y., Drcxel-M.; ABalt. May 1, 198»
N. N. Y^ Mere. Trust Co.
Nov. 1, 1980
N. N.Y.,Brown Bros.ftBalt Nov. 1, 1990
ft" J. N. Y., Farmers' L. ft Tr.
g.
J.
J.
?»•
ft
ft
J.
A.
J.
ft
J. Halt.
4>a
5
do
do
O. N. Y., F. L. 4 Tr. ft Bait.
Nov. 1
do
do
Deo. 1
N. Y.— When earned.
M. ft N.
New York.
g.
(«)
50
1886
1,000
1892
1,000
1891 100 &0.
ft
F. ft
J.
g.
5
5
5
&
J. ft
J. ft
J. ft
if:
413
whom.
Payable
1,500,000
3,000,000
3,000,000
5,500,000 4 per an.
5,000,000 • 4g.
500,000
825,000
4 «•
J.
J.
J.
4
ft
ft
4
J.
J.
J.
J.
May
ORice and London. July
St Apr.
do
do
July
N.Y., Gr-nd Cent. Depot Oct.
do
do
JiUy
do
do
July
N. Y., Knickerb'r Trust. Jan.
A. ft O. Bait. Office, Calvert
J.
Jan.
Jan.
Jan.
Jan.
Jan.
1900
1990
1990
1990
1990
1942
1911
1911
1929
189a
1936
1936
1940
1,
1,
1,
1,
1,
1.
1,
1,
1,
1,
1.
1,
1,
1889-90.
Dedtici—
Baltimore Sc OUlo— (Concluded.)
1890-91.
1891-92.
$190,767
$205,425
In 1890 a syndicate purchased from the City of Baltimore Its Net earnings Washington Branch. $376,172
6,417,599
6,429,098
6,639,222
entire holdings of common stock, amounting to $3,250,000, and this Fixed charges
300,000
300,000
300,000
stock, together with that hold by the (larrett Interest ($8,975,000 in Divs. on 1st ft 2d pref. st'k (6 p. 0.)
Dividends on common stock
(1'4)312,428
all) has lieeu deposited In trust with the Farmers' Loau 4 Trust Co.,
«nd wiU bo voted on until July 1, 1893, by Mr. C. F. Mayer. President
Total
$7,093,771 .$6,919,865 *7,4.')7,075
of the Baltimore 4 Oliio, auu his two nominees. See V. p. 54, p. 369.
$1,861,292 $1,792,174 $1,847,293
contract or lease made with the Chic. 4 N. Pac. In Dec, 1891, gives Surplus
Deduct payments to retire bonds..
481,058
471,558
674,057
use of ample terminals in Chicago. See Chicago 4 Nor. Pacific.
?
A conlroUliig interest in the stock of the Pittsburg 4 Western (which
Leaving a balance of
$1,380,234 $1,320,616' $1,173,232
«ee) was acquired in 1891— see below. For contract with Akron 4
1890-91.
Chicago Junction and Baltimore Belt roads see V. 51, p. 344
1891-92.
Earning) of—
Gross.
Net.
Oross.
Net.
Capital Stock.—Common stock listed on N. Y. Stock Exchange in
$12,031,582 !4,613,672 $12,342,990 $4,318,043
February, 1892. See the application for listing in V. 54, p. 368. Of Main Stem, 4o
726,419
190,767
768,489
205,425
the common stock $3,975,000 is deposited in trust as above stated. Washington Branch
793,295
160,634
856.212
128,482
This is the " trust stock " dealt in on the Stock Exchange. See form of Parkersburg Branch. . .
187,542
1,419,931
285,999
trust certificates in V. 54, p. 369. Preferred stock carries 6 per cent Central Ohio Division. . . 1,365,564
Lake Eric Division
1,106,818
255,359
1,032,207
199,127
.dividends only.
2,556,814
383,721
3,067,582
624,145
On Nov. 11, 1891, the Directors voted to increase the stock from Chicago Division
Pittsburg Division
2,880,391
981,796
3,090,404
975,521
to $25,000,000, paying a 20 per cent stock dividend,
«14,792.566
653,012
54,212
669,255
72,986
and paying $2,161,800 for the previous purchase ot Pittsburg 4 Wheeling 4 Pitts. Div..
1,899,638
556,457
2,056,414
648,236
Western RR. stock, leaving about $5,000,000 applicable to improve- Philadelphia Division.
New'k Somerset 4 St'le.
145,026
2,116
149,978 df.10,625
ments (V. 53, p. 712, 753), which was sold in January, 1892.
(3ol. 4 Clncin. Midland.
344,458
69,200
347,646
22,769
Dividends ON Common Stock.- Inl880,9; in 1881 to 1885, inclusive, Akron Dlv.fromAiig.91
27,376 def. 3,315
233,055 df.31,742
10; in 1886, 8; In 1887, 4; then none tiU 1891, when 20 per cent in stock
was declared, payable Dec. 31 in 1892 resumed cash dividends, payTotal
$24,530,395 $7,452,162 $26,034,168 $7,438,366
ing 1 H per cent in May for the quarter ended Dec. 31, 1891; Nov.,
(V. 52, p. 238, 462, 796. 831 V. 53, p. 58. 223, 568, 603, 71'2. 753.
2>5 per cent (semi-annual).
753, T5S, 793; V. 54, p. 158, 366, 368, 643, 683, 721; V. 55, p. 678.)
Price of Common Stock.- (In Baltimore till March, 1892, then in
Baltimore ft Ohio ^o\\tlivrK»tiim^—(8eeMapofBaltimoreitOhio)New York)—In 1883, 192»a®205; in 1884, 107 ® 199 in 1885, 166>2a
185; in 1886,1503191; In 1887, 104®180; in 1888, 80®106i3; in —Cincinnati, O., to Belpre, O., 193 miles; branches M.irietta to Belpr0>
11 miles; Portsmouth to Hamden, 55 miles Blanchester to Hillsboro.
1889, SlalOlia; In 1890 92>a®107>s; in 1891, 84''8®104;ln 1892 to
22 miles; trackage in Cincinnati, 1 mile; total, 281 miles. Connecting
:Sov. 18 inclusive, 84®101i4.
line to Cincinnati, etc., for the Baltimore 4 Ohio, which owns all the
Bonds.— In addition to l>onds given above as outstanding the B. 4 O. common stock. The Cincinnati Washington 4 Baltimore was sold in
sinking fimds held June 30, 1892, consols of 1887 to tlie amount of foreclosure Sept 19. 1889, and reorganized by plan In V.
49, p. 82.
84,274,000(interest on which is paid in consols themselves) and other
Capital Stock.- Preferred stock Is non cumulative. It is entitled
flrst-class interest-bearing bonds to the amount of $5,558,972.
The consolidated mort. of 1887 (trustee, Mercantile Trust 4 Dep. Co.) to 6 per cent dividends, then common to 6, then botti share equally.
Bonds.- First mortgage bonds carry the endorsed guarantee of Balticovers the main line, Baltimore to Wheeling, and branches, 444 miles,
the two Ohio River bridges, stock of the Wa.shington branch for $1,028,- more 4 Ohio as to both principal and interest. The Farmers' Loan ft
000, and the entire issue of first mort. bonds ($5,000,000) on the road Trust Company is mortgage trustee. See abstracts of the first mortgage
between Pittsburg and Wheeling. The balance of couaols unissued is re- and of the income mortgages In V. 51, p. 245, 246. Interest has been
served to retire the prior bonds not held by the sinking funds. Abstract paid on the income bonds as follows. On first incomes: In 1891, March
(out of earnings ot 1890), 4 per cent; In April, 1892 (for year 1891), 5
of mortage was in V. 46, p. 804.
cent;
halt-year), 2'9 per cent. On second incomes:
Guaranty.-The bonds of the Sohuylldll Elver East Side RR. are fer1892, in October (forAugust,
n
per cent. In
1892. company
fiaranteed by B. 4 O., the Pennsylvania Co. for Insurance on Lives, bonds of 1the B. 4 O. S. W. Terminal Company, guaranteed $1,500,000
about to bo issued for
c, being mortgage trustee. 80 too are the Monongahola River 5s,
the construction of terminals in Cincinnati. See V. 55, p. 297.
which cover road from Clarksburg to Fairmount, W. Va., and the BaltiAnnual
more 4 New York 5s, covering 5 miles of road from west end of the 1891-92 Report.- Fiscal year ends June 30. Advance statement for
was in V. 55, p. 542 as follows
Arthur Kill bridge of the Stateu Island Rapid Transit RR. to a Junction
Years ending June 30—
with the Central of New Jersey RR. near Roselle, N. J.
1890-91.
1891-92.
The Akron 4 Chicago Junction 5 per cent bonds cover road completed Gross earnings
$2,326,671
$2,648,743
In July, 1891, from Akron to Chicago Junction, 73 miles. They are Operatmg expenses
1,516,861
1,670,126
guaranteed as to interest by the rental from Baltimore 4 Ohio, as also
Net earnings
Uie Baltimore Belt bonds on line building through the City of Baltimore.
$809,810
$978,617
Bee V. 51. p. 344, 405, 829.
Total net (Including other income)
$813,492
$981,605
The other bonds guaranteed are $11,000,000 Baltimore 4 Ohio South Interest
on bonds
$503,325
$503,325
Western first mortgage 4 "a per cents; $2,500,000 Stateu Island Rapid
58,2(34
61,079
mort. 58 ,$326,000 Valley of Va. Ist mort. bonds (held In Taxes and other charges
Transit 2d
sinking fund); $147,250 Winchester 4 Potomac first mortgage 6s,
Balance over fixed charges
$251,903
$417,201
the Columbus 4 Cincinnati Midland; also Interest on
and $2,240,000 ot
(V. 53, p. 793 V. 54, p. 287, 485; V. 55, p. 297, 642, 639.)
$2,100,000 Pittsburg Cleveland 4 Toledo tlrat mortgage bonds and
$4,000,000 5s West Virginia 4 Pittsburg RR., which see.
Baltimore le
Owns from Baltimore, Md., to South End
Finances, 4c.— This company operates one of the lead- Long Bridge, Va., 43 miles; and from Bowie to Pope's Creek, 49 milesi
General
ing trunk lines to Chicago, as well as a line to Cincinnati. After having total, 92 miles— including tunnel In City of Baltimore; leases branch 4
padd dividends for many years the company passed the No vember, 1887, miles; total operated 96 miles. Controlled by the Pennsylvania RR. Co.
.and subsequent dividends on common stock until November, 1891,
Stock.—$4,914,250 (par $50), of which Pennsylvania BR. owns
when 20 per cent in stock was declared, and tills was followed in May, $4,081,100 and Northern Central $622,850. Bonds.— The consols for
in cash and a semi-annual dlvi- $3,000,000 are held by Pennsylvania RR. Co. Suflicleut consols
1892, by a quarterly dividend of
are
.dend of 2 Hj per cent in November. Since 1887 the property has been reserved to retire all the prior bonds as they mature. The first mort
^eatly Improved and enlarged.
gage bonds are guaranteed by Pennsylvania RR. and Northern CentralLatest Earnings.— Prom July 1, 1892, to Oct. 31, 1892, (4 months),
Earnings.- From Jan. 1 to March 31, 1892 (3 months), gross earnings
gross on all lines east and west of Oliio River were $9,409,243, $408,173, against $394,390 in 1891 net $54,742, against .$98,910.
against $9,217,975 in 1891; net, $3,030,016, against $3,028,896.
In year 1891 gross earnings were $1,808,245; net (including $16,526
annual Report.— Fiscal year now ends Jime 30. Annual meeting of "other income";, $475,410; interest on bonds, $420,000; other
charges, $35,552 balance, $19,857. In 1890 gross, $1,708,368 net
Is still held, notwitlistanding change ot year, at Baltimore on the third
Monday of November. The last report was for nine months ending $462,848 other income, $1,555.
June 30, 1892, (See CinioNioLE of Nov. 26, 1892), but It gave figures
Beech Creek.—Road Jersey Shore, Pa., to Gazzam, 104 miles;
for year ending Sept. 30, 1892, as below, in comparison with previous branches, to Philipburg, to mines, 4o., 33 miles; total, 137 miles; trackyears, Septeml)er, 1892, lieing approximated.
age to Wlliiamsport, 16 m. Extension building to Mahaffey, 27 miles.
1889-90.
1890-91.
History and Lease— Successor to the Beech Creek Cleartield ft
1891-92.
Yean ending Sept. 30—
$24,412,096 $24,530,395 $26,034,167 Southwestern, reorganized In 1886. From October 1, 1890, leased to
XJross earnings
16,966,870
17,078,233
18,595,801 the N. Y. Central 4 Hudson River BR. for 999 years at interest on
Operating expenses
A
.
,
.
.
i
.
. .
;
—
;
—
;
;
;
—
;
Potomac—
m
;
;
;
;
—
$7,445,226
Net earnings
Add income from other sources. 1,509,837
Total net income
$8,955,063
$7,452,162
1,259,877
$8,712,039
bonds and 4 per cent stock.
Stock and Bonds.— Each share of stock carries the Central's guararauty of 4 p. c. dividends yearly, and the bonds are endorsed with the
Central's guaranty ot principal and interest. See V. 52, p. 570. In
$9,304,367 June, 1892, stockholders authorized the issue ot $1,000,000 uevr se oond
$7,438,367
1,866,000
.
)
.
INVESTOnS' SUPPLEMENT.
16
Snbscrlbers
ivlll
confer a great favor by giving Immediate notice of anj error dlacovered In tbese Tables.
RAILROADS.
Miles
column headings,
on ttrst page of tables.
Ey>r explanation of
&c., see notes
.
Bonds,
Bonds,
Bonds,
.Bonds,
JBonds,
do
do
do
do
do
Date
Size, or
of
of
Par
Road. Bonds
*»Ua«rcZane«>»iJed!C»u.— Prior llenmort.,red.atl05
IstM. for $1,000,000 ($262,000 rcs.forpr.l'n bds.)
c
Belvidtre Dei.— 1st M., ext'd in '77, conv., guar
c
Cons. mort. of 1876, sinking fund, not djawn
Cons. M. of '76, guar, by Uu. Go's A Pa. RR.,8. f .r
SenningtOH rf liulland—lat mortgage
JBerfc«Aice— 8tocl£ (7 p. c. perpot. rental Housatonlc)
Sirm. She/. itTenn. ijiu.—lat M., $25,000 p.m., g.c'
Boston <t Albany—Stoii^ ($30,000,000 autliorlzed)
cAr
Bonds of 187.'' not mortgage
r
Bonds (not mort.) i8.sucd to State for its stock
Plttstleld A North Adams (leased) stock
Waic River Railroad (leased) stock
Boston d: iMwell Stock.
Bonds, not mortgage..
—
Ill
111
A Law. bonds.
3alem A Lowell bonds.
Jiash. ALow plain b'ds
1889
1890
1867
1876
64
67
67 1885-7
59 1877
22
119 1889
389
1875
1882
19
49
.
o*..
IVou LV.
Value.
$1,000
1,000
$250,000
738,000
1,000,000
682,000
1,250,000
1,000
1,000
1,000
1,000
100
1,000
100
1,000
'ibo
100
100
1885-9
1892
1,000
Xowcll
do
Do
Boston d- Maine Stock, common
Preferred stock, 6 per cent, non-cumulative.
C4r
Plain bonds, not mortgage
Imp'nt bonds (*1,000,000 due Feb., 1905) s. f
Do
do
"Bonds f orlmprovem'ts and refuudg (see text) cir
Eastern RR. certs. of lndebt.l8tM.,g.,s.f.,notdm.o
Portsmouth Great Falls A Conway Ist mort
c
Boston <tN. r.A»r-Z,»»e— gt'k,pref.(gu.N.Y.N.H.AlI.)
1873
1880
—
.
100
100
1873-4 500 Ac.
1885-7 1,000
1887
1,000
1892 lOOO&c.
.
119
73
54
1876
$A£
1877 500 Ac.
100
nnorttgage 5 per cent bonds and $1,000,000 new stock, both guaranteed
lijy the New York Central.
These securities will bo i3.sued from time to
^jue to pay for extensions of the road through ClearHold in a southWBSterly direction about 70 miles, reaching undeveloped coal tlelds.
In Sei>{e)Bber, 1892, $300,000 of tlicse 5 per cents and $.")00,000 of stock
were Issued to pay tor tlie extension about completed from Kermoor to
Mahaffey, 27 miles, Ac. (V. 55, p. 21.) Car trusts (5 per cents) were
^08,500 on July 1, 1892, part due yearly.
Dividends— On preferred, 1886 to 1888, inclusive, 5 per cent per
annum: in 1889, 2 >«; in January, 1890, 5 per cent; in 1891 stock was
all made common, and on tliis dividends of 4 per cent are guaranteed.
See guaranty in V. 52, p. 570.
Latest Eaknings.-July 1, 1892, to Sept. 30. 1892 (3 mouths), gross
#288,681, against $301,183 in 1891 net, $133,575, against $156,119.
AjfNB.iL Report.— Fiscal year ,ends June 30. Report for 1891-92
•was in V. 55, p. 542, showing gross earnings $1,230,834, net $528,177;
ftrst charges, $315,234; dividend, $200,000; balance, surplus, $12,943.
In 1890-91 gross $1,101,237, net $551,262. (V. 52, p. 80, 238, 321,
498, 570; V. 54, p. 328, 887; V. 55, p. 21, 642, 551.)
Bellalre ZanesvlIIe &. Cincinnati,— Owns BeUairo, O., to
"Wilhelm Station, O., 102 miles, three foot gauge; leases Muskingum
•County KaiUoad, WUhelm to Mill Run, 9 miles; trackage B.AO.RR.,Mill
IRun to Zauesville, 9 miles; total operated, 112 miles. Placed in receivIt is proposed t<>
•er'a bauds in Jidy, 1886, and reorganized In 1889.
«tandard-gauge the line. The mortgages cover in addition to tlie road
•owned, the company's interest in its leased line, the Muskingum
•County Railway. Stock is: Common, $832,000; preferred, $795,910;
X)ar$50. In year ending June 30. 1892, gross earnings were $97,015,
ijagalnst $88,931 in 1890-91); net over expenses and taxes, $10,291.
BelTldere Delaware.— Owns from Trenton, N. J., to Manunka
"Chunk, N. J., 67 miles; Flemington RR.,Ac., 14 miles; operated cut-off, 1
«Dile; total operated, 82 miles. Leased to United Companies, and transferred to Penn. RR. Marcli 7, 1876. Net earnings paid as rental. Penn.
SER., Dec. 31, 1891, owned all of the 7 per cents. The ttrst mortgage
(oonvecttlile into stock) aud new 4 per cent bonds are guaranteed by the
(Unltad Compauies. In 1891, net, $370,830; surplus over interest and
Stock, $1,dlvldfti'd.^, $112,904. Dividends of 6 per cent are paid.
150,006 (par $50), aU held by Penn. BR. Co.
WerkmUlre.- Owns from Connecticut State Line to West StockQ)rldge, Mass., 22 miles. Leased in perpetuity to Housatonic RaUroad
<l»«ipauy at 7 per cent on capital stock, $600,000. Lessors have paid
»nd hence the quarterly dividend due in October has usually
4az»s,
been omitted. In 1892 a suit wasbrouglit against the Housatonic to
ceoover the amount theretofore paid in taxes. In June, 1892, road
isasaed with the Housatonic Railroad— wldch see— into the New York
Haven A Hartford system. Stock in 1891 paid 5'30 per cent;
It8a2, January, l»io; April, 1%; July, 1%.
Onratlushani Sbeffleld tc Tennessee River.— Road Sheffield
*o3«««r, Ala., and branches, 119 miles. In October, 1892, it was reported^hat au extension would be built at once from Jasper to Birmingham, 42 miles. In connection with the Paduoah Tennessee A Ala-feama (which see) and other roads, there will then be a through line from
t9t.i<ntif. Mo., to Birmingham, Ala. V. 55, p. 768. Stock— $3,275,000;
far. $1(>0. MoiiTOAGE trustee is Knickerbocker Trust Co. Earnings—
'3x>ia Jaiu 1 to Sept. 30, 1892 (9 months), gross earnings were $176,055,
J.
J.
J.
&.
<<l[
<t
1).
N. Y., Fanners' L.
A Tr.
July
RR.
June
.1.
.1.
4
6
1,
1,
1,
1,
1899
1940
1902
1916
Sept. 30,
1892
1895
1902
1892
1892
1892
1895
1896
1899
1903
Jan.
Philadelpliia, Pa.
& I. Phila.,aua TreDton,N.J. Jan.
Various Philadelphia, Pa. RR. Sept., 192.5-27
N. N.Y., Union Trust Co.
Nov. 1, 1897
Ci.- 1. Stockbrldge, Treasurer.
July, 1892
A. & ().
Apr. 1, 1929
7
4
7
475,000
600,000 See text.
2,975,000
25,000,000 8 per an.
6
2,000,000
5
3,858,000
450,000 5 per an.
750,000 7 per an.
5,929,400 See text.
500,000
7
6
750,000
5
620,000
413
250.000
4
3,675,000
1875
1876
1879
1883
Boston A Maine gives
a rental guarantee
for 99 years.
Bonds— Prlnot
INTEREST OR DIVIDENDS.
pal.When Due.
When Where payable, and by Stocks— hast
cent.
Payable
Whom.
Dividend.
Amount
Outstanding Rate per
J.
4
1,000,000
200,000
6
226,900
6
6
200,000
100,000
5 g.
17,694,700 See text.
3,149,800 6 per an.
3,500,000
7
1,500,000
4
4
1,919,000
4
1,500,000
9,041,875
6g.
413
1,000,000
2,098,.50O 4 per an.
A.
A.
A.
M A
(,
.1
A.
.1.
.1.
.-«. BoBton,Of.Kneeland
& J.
do
do
do
A ().
do
do
A .1.
do
A .1.
do
do
A
M A
A
A
M A
.r.
H.
J.
.1.
.1.
N.
Various
A
A
A
K. A
A
M A
M A
J. A
F. A
V. A
F. A
M. A
A
A. A
•r.
.1.
().
<).
().
A.
.1.
N.
H.
J.
A.
A.
A.
H.
1).
O.
do
do
do
July
Apr.
July
July
July
Mch.
July
July
do
May
do
do
do
do
Apr.
Boston, at Office,
J.
.1.
St.
do
do
do
do
do
do
do
do
Nashua,
do
1,
1,
1,
1,
1,
1,
1,
1,
1,
1905-6-7-9
1932
1897
1898
Co.'s Office,
Aug. 1, 1893
do
July 1, 1900
Boston, at Office,
Nov. 16, 1892
do
do
Sept. 1. 1892
do
do
Jan.,1893A'94
do
do
Feb.,1905A'07
do
do
Feb. 1, 1937
do
do
Aug. 1, 1942
Bost.; Lond., Baring Br. Sept. 1, 1906
Boston, 2d Nat. Bank. June 1, 1937
N.H., N.Y.N.H. A H. Co.
Oct., 1892
1,
Oct. 1,
Oct. 1,
—
Boston Sc I.01V011.— Road Owns Boston to Lowell, 27 miles
branches— Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles
others, 32 miles; Middlesex Central, 11 miles; leases— Mauehester
Keene RR., 29 miles (owned Jointly with Concord A Mon. RR.); Central
Massachusetts, 104 miles Connecticut A Passumpsic, 147 miles; total
leased, 280 miles; total owned and leased, 369 miles.
Leases The Connecticut A Passumpsic RR. is leased for 99 years
from January 1, 1887.
lease of the Boston A Lowell and all its
branches to the Boston & Maine for 99 years was effected in 1887 at 7
per cent on stock till January, 1897, and 8 per cent thereafter.
A
;
—
A
Bonds and Stock— Stock authorized, $6,529,400. The 4 per cent
bonds for $1,000,000, due April, 1932, retired $1,000,000 bonds fallJuly 1, 1892, loans and bills payable $790,000.
ing due April 1, 1892.
Dividends siuce 1880— In 1881 aud 1882, 4 per cent; in 1883, 5; in
1884, 5I2; in 1885 and 1S86, 6; in 1887, 61^; in 1888 and siuce at rate
of 7 per cent yearly; but see terms of lease above. No report issued
since 1886. (V. 52, p. 84; V. 54, p. 78.)
Boston Sc Maine.—Owns Boston to Portland, Me., via Dover, N.
H., 116 miles; Boston to New Hampshire State (Eastern Railroad), 41
miles; Conway Junction, Me., to North Conway, N. H., 73 miles; numerous small branchr=,etc., 130 miles; total owned, 360 miles. LeasesNew Hampshire Sta^o Line to Portland, Me., via Portsmouth, N. H.
(Eastern Railroad in New Hampshire aud Portsmouth Saco A Portsmouth), 67 miles; Boston to Sherbrooke, Canada (Boston A Lowell,
Nashua A Lowell, Northern New Hampshire, Connecticut A Passmupsio
and Massawippi Valley railroads), 290 miles; Worcester, Mass., to Rochester, N. H. (Worcester Njishua A Rochester), 94 miles; North Cambridge Junction to Northampton, Mass. (Central Massachusetts), 99
miles branches, 344 miles total leased, 850 miles
total operated
Sept. 30, 1891, 1,210 mUes. For terms of leases see each company.
Organization, Etc. In 1890 a consolidation was made with the
Eastern Railroad of Massachusetts and the Portsmouth Great Falls A
Conway, on terms in V. 50, p. 589. Authority to consolidate with its
other leased lines was granted In 1891. Company owns $2,264,375
Maine Central stock.
In October, 1892, a large interest in the Boston A Maine was purchased by Philadelphia A Reading parties, Mr. McLeod of the Reading
becoming President of the B. A ti. By means of the connecting lines
the Philadeipliia Reading A New Eugland, New York A New England
and Central Massachusetts, a large interchange of traffic is expected.
"The independence of the corporations, however, is preserved. See V
55, p. 723 and editorial, p. 704.
STOCK.— In 1891-92 $4,656,400 stock was issued at par. V. 52, p. 164,
349, and in July, 1892, $750,600 more was authorized to retire
the stock of the Chelsea Beach, Ac, roads, mostly owned by B. A M.
The company '8 common stock with this issue outstanding will be $18,453,900, of which $831,100 held by the mortgage trustees of the EastSew
em BR. draws no dividends.
Dividends.— On common stock since 1880:— In 1881 to 1 885 inclusive,
8 per cent; in 1886, 9I2; in 1887, 10; in 1888 and 1889, 9; in 1890, O^s.
In 1891, May, 418; November 4J3; In 1892, May, 4 ; Nov., 4.
Bonds.— In June, 1892, it was voted to issue $2,500,000 of 4 per cent
bonds, of which $1,500,000 to retire a like amount of 7 per cents due
Jan. 1, 1893, aud $1,000,000 lor improvements. Of these bonds $1,500,000 were to be outstanding Dec. 1, 1892, the balauce April 1, 1893.
There were outstanding Sept. 30, 1891, $594,800 413 per cent Charlesagainst $151,693 in 1891; net, $57,162, against $52,272. In year town land mortgage notes due 1895. Jointly with Maine Central the
net, $87,563; interest on bonds, B. A M. guarantees piincii>al and interest of $300,000 bonds of the
1891-92 gross earnings were $227,311;
Portland Union Ry. Station Co's.
^148,750. There are car trusts outstanding. V. 55, p. 768.
Annual Report.— Fiscal year ends September 30. Annual meeting
Albany.— Owns from Boston, Mass., to Albany, N. Y.,
Vostou
miles; leased lines, 83 miles; total is held on second Wednesday in December. Report for 1890-91 was In
a02 miles; numerous brauches, 104
operated, 389 miles. Formed December, 1867 by consolidation of the Chronicle, V. 53, p. 834. Earnings and expenses below are for the
whole system, the figures for 1891-92 being those for the year ending
.jBoBton A Worcester and the Western railroads.
June 30, as reported to the State Railroad Commissioners.
.'Stock— In 1889 obtained permission from the Legislature to issue
1890-91.
188S-90.
1891-92.
9M.a,-000,000 additional stock, $7,000,000 being for bonds due in 1892 Miles operated
1,210
1,210
1,210
•Jan. 1895 aud the remainder for Improvements. On Jan. 5, 1892, Passenger earnings
$7,347,201
$7,514,771
$7,799,702
t^,^0<000 of this new stock was Issued to retire 7 per cents due Feb. 1. Freight
7,118,583
7,011,127
7,202,675
625,907
656,764
721.417
Di^TDENDS- Cash dividends at the rate of 8 per cent yearly have been Mall, express, Ac
Vpald for many years. Stock dividend of 10 per cent was paid in 1883
$15,091,691 $15,182,662 $15,783,795
Total gross earnings
.-and of Sio per cent in 1886.
10,728,685
11,031,242
Latest Earnings— From July 1 to Sept. 30, 1892 (3 months), gross, Operating expenses and taxes. 10,567,213
,'$2,583,958, against $2,510,965; net, $749,859, against $704,333; in$4,524,478
Neteamlngs
$4,453,977
$4,752,552
terest, taxes and rentals, $129,935, against $220,490; balance for
$4,951,311
Total net, luclud'gotherincome $4,963,978
$5,179,841
.took, $619,923, against $483,842.
$2,576,381
$2,018,090
$2,013,844
Annual Report.— Fiscal year ends June 30; report in V. 55, p. 254. Rentals paid
1891-92.
1889-90.
1890 91.
580,544
982,224
972,955
Interest on bonds
Years ending June 30—
$9,216,222
$9,863,316 Other intere.'it
1.50,757
181,077
204,835
$9,151,069
Gross earnings
6,807,751
7,403,183 Sinking funds
100,000
68,381
75,947
Operating expenses and taxes. 6,276,777
1,042,211
1,329.030
Dividends
1,354,890
$2,408,471
$2,460,133 Kate of dividend
(9c.; 6 pf.)
(S^jc; 6 pf.)
$2,874,292
(9»i!C.: 3 pf.)
Net earnings
$662,900
$517,067
$662,900
interest paid
$4,449,893
$4,578,802
$4,622,473
Total
78,000
78,000
78,000.
BentalB
$372,509
$557,368
$514,085
1,600,000
1,800,000 Balance
1,600,000
iDlTldeUkls (8 per cent)
-(V. 52, p. 164, 321, 349, 795; V. 53, p. 21, 289, 793, 834, 879; V. 54,
$2,340,900
$2,395,067 p. 328, 762; V. 55, p. 21, 337, 462, 704, 722, 723.)
$2,340,900
Total
York Air Ijlne.—On'ns from New Haven, Conn.,
Boston
$67,571
$65,066
$533,392
««lance, surplus
—(V. 52, p. 322, 71 «; V. 53, p. 187, 35 S, 270, 67.^; V. 54, p. 243, 762; to WiUimautic, Conn., 50 miles; leases TumerviUe to Colchester, 4
miles total operated, 54 miles. Formerly the New Haven Middletown
p. 'ISi, 317, 806.)
V. 55,
;
;
;
—
Ac
m
—
&
& New
;
;
o
I
November,
RAILROAD STOCKS AND BONDS.
1892.J|
Sabscribers will confer a
k'sX favor by
KAILEOAD8.
For explanation of column headings,
on first page of tables.
&o., see notes
0"
X. r. ^lir-itne—CCo»i.>—lBt mortgage..
a iVoc— Stock, 10 p. c. guar. 9!) ynt., Olil Col.
branches.coupon or registered
Bonds to purchase
Funding bonds, not mortgage, sink, fund 1890.. o*
Boston lieeere licach, <e Lynn Stock
Bo$ton
Boston
<t
Miles
of
Date
ot
50
1880
Bratlford Eldrcd
Brooklyn
liuth
West
$1,000
100
1,000
1,000
1873
1888
A...0
6>fl
4
—
.
Burlington Cedar Kapids
it
Northern— 1st mortgage
Iowa City & West., 1st M.,g.,lnt.guar.,red.at 105.
Ced. Rap. I. F. & N. W., Ist M. g., guar., red, at 105
Amount
61a
6ifl
7>3
6
6
11
11
3h,
319
26
142
142
304
304
108
All
All
1877
1886
1881
1887
1887
1892
1887
1884
1885
1887
1887
1892
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1891
1865
1,000
1876
1,000
100
100
100
1881
1882
1887
1,000
1,000
1,000
1,000
1,000
Var-s
11
67
369
73
55
1889
1877
1876
1879
1880
5
50A0.
lOO&c.
1,000
1,000
10
4,000,000
500,000
1,665,000
850,000
350,000
289,000
500,000
250,000
250,000
52,000
500,000
3,500,000
1,250,000
6,150,000
2,068,000
See text.
58,000
250,000
580,000
950,000
2,380,000
6,000,000
6,000,000
1,300,000
3,920,000
2,971,000
543,000
350,000
1.500,000
6,500,000
584,000
825,000
ft J.
<b J.
ft J.
ft J.
ft 8.
ft J.
ft J.
ft O.
Bondt—Priaff'
pal.When Do*
Sloekt—tsH
Dividend.
A
7
$500,000
100
8
Buffalo Rochester it Pittsburg— Btock Common
Preferred 6 per cent non-oumulatlve.
K. &P. IstM, gold, Rochester to Salamanca
c*
K. <Ss P. consol. niort., $20,000 per mile, gold, g.o*
1st general mortgage ($10,000,000) gold
o*
0*
R. & P., car trust.", $232,000 are gold
Lincoln Park Ac Charlotte Ist mort.,gold,guar.c*
Buffalo it Southw.— 1st M., gold, int.guar. by Erie c'
Size, or
68
9
1st mortgage, serie.'i B
2d mortgage for $100,000
Brooklyn it Brighton Beach — 1st mortgage
Brooklyn Elemiled—lntm., gold.s. f., notarawn...O"
2d mortgage, gold, sinking fund, not drawn
o*
Union El., Ist M.^5.'iO,000 p. m., gol(l,assHmed.o*
2d M., Inc., non-cum., $185,000 per niilcgoldo*
Seaside & B'klyu U. El. l»t M. $l,0()0,Ot)0. gii.o&r
Brooklyn it Kockaicay Beach.— lat mortgage
Loan for $350,000
Buff. Brad, tt Pitts.— Gen. M. (10,000 acres land) ..r
Buff. .V. T. it Erie— Stock (7 p. 0. rent. N. Y. L. E.&W.)
Ist mortgage
c*
anjr error dlaeoTcred In these Tables.
Rate per When Whore Payable, and by
ROad. Bonds Value. Outstanding Cent. Payable
Whom.
.
guar
Cuba— st mortgage
End— 1st mori., series
it
it
Sliore 1st mortgage,
IT
INTEREST OR DIVIDENDS.
Par
o
&
Immediate notice of
Elvlna;
—
1st mortgage
Boston WInthrop
—
;
F.
A. N.Y., Lincoln Nat. Bank
pr.an. (1.-J.
Boston, Office, Park Sq.
See
J.
4
J.
text. J.
6
J.
5
M.
6
J.
J.
5
5
A.
5'
M.
A.
5
6
g.
g.
J.
M.
I'-
J.
J.
6
M.
7'
7 per
7
J.
an. J.
J.
See text.
ft
ft
ft
ft
ft
ft
ft
&
ft
ft
Boston.
Boston, Of. Atlantic A v.
do
do
Last paid July, 1884.
FhUa., 122 So. 4th St.
do
do
Oct.
J.
N.
J.
J.
J.
ft
J.
J.
J.
7g. M.
6g. A.
&
ft
ft
ft
ft
Sept
do
do
do
do
N. Y. L. Erie
D, N. Y. L. Erie
D.
do
J.
OcV
July
May
Jan.
July
4 W. RE.
ft
W. RB.
do
N. Y., 36 Wall Street.
A. N. Y., Union Trust Co.
D.
do
do
do
May
do
do
1906
1,
1,
1,
1,
1,
1,
1927
1924
1915
1937
1927
1943
1909
Jan. 1, 1898
Deo. 1, 1893
June
1,
1910
Nov. 15, 1893
Feb. 1, 1921
Dee. 1, 1928
Sept 1, 1937
Var. to 1900
do
N. Y., Gallatin Bank.
J. N.Y., Union Trust Co.
J. N. Y., First Nat. Bank.
D. N. Y., Central Trust Co.
S.
1,
Sept. 1,
N. Y., Cent. Trust Co.
do
do
do
do
1905
1893
Jan. 1, 1933
Jan. 1, 1907
Jan. 1, 1910
N. Br'klyn.Peoples' Tr. Co.
O.
1,
I,
July 1, lees
July 1, 1918
July 1, 1893
July 15,1897
S.
O.
M. ft B.
Various
5,6
do
do
Q.-P.
F. ft
6g.
do
do
Aug.
1939
1908
1906
Sept.1, 1909
Jan.,
July
Jnne
1,
1,
Oct.
1,
do
do
1930
& WiUimantlc. A lease was made In October, 1882, to the New York
BnlTalo Rochester ft PlttsbnrsRallivay.— ^/S'eeJfa;!..) Road.
New Haven & Hartford Railroad for 99 years at 4 per cent yearly on Owns Bochester, N. Y. and Buffalo, N. Y. to Walston, Pa. (except 40 miles
the preferred stock and interest on the bonds. Common stock author- of trackage mentioned below and here deducted) 240 miles; branches to
ized $1,000,000: outstanding (including scrip) $864,231; par, $100.
mines, 12 miles. Proprietary roads owned
Lincoln Park ft Charlotte
Railroad, 11 miles;
1 mile. Trackage— New York
Boston & Providence.— Owns from Boston, Mass., to Providence> A Western, Howard Perry RR.,Pa., to Clarion Junction, Pa., Lake Erie
Junction,
36 mUes:
R. I., 44 miles branches, 20 miles leases, Attleborough to North Attle,
,
,
:
;
;
borough, 4 miles total operated, (J8 miles. Leased for 99 years from
April 1, 1888, to Old Colony KR. at 10 per cent yearly on stock and a
bonus of $1,300,000 cash, out of which an extra dividend of $32 50 was
paid on stock May 2, 1888. Old Colouy to July 1, 1892, had invested
81,671,938 in this property on lease and improvement account. Bonds
for $5()0,0(K> are to bo issued to refund those due July 1, 1893. (V. 49,
p. 718; V. 55, p. 038.)
Boston Revere Beaeta Sc Lynn.—Owns narrow-gauge road
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by
company's ferry boats; Boston Winthrop & Shore RR^, East Boston to
Wlnthrop, 5 miles, with branches 3 miles. On July 1, 1891, consolidated with the Boston Wintlirop & Shore Road. Notes payable Juno,
1892, $60,000; notes receivable, $5,500. Dividends
From 1888 to
1891 inclusive, 7 per cent per annum; in 1892, Jan., 3 p. c; July, 213.
Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months), gross,
$125,677, against $147,020 in 1891; net, $61,980, against $78,840.
In year ending Juue 30, 1892, gross earnings were $330,922, (against
$308,178 In 1890-91): net, $109,454; interest on bonds and notes,
$38,308; taxes, $19,336; dividends, 0i-2 p. ct, $51,750. (V. 55, p. 297
Brooklyn
BrlKliton Beach.— Owns double-track road from'
Atlantic Avenue coruer Franklin Avenue, Brooklyn, to Brighton
Beach, N. Y., 713 miles. Successor to the Brooklyn Flatbush & Coney I
sold in foreclosure in October, 1887. Stock Is— commim, $500,000;
preferred, $500,000. In year ending Juue 30, 1892, gross earnings
were $113,400; net, $24,277; interest, $38,001; terminal proi>erty,
$29,756; deticit, $43,480, against $28,182 in 1890 91. On July 1,
1892, there were loans and bills payable for $273,021. President, J.
Jourdan, Brooklyn (V. 55, p. 500.)
Brooklyn Bath
West End.—Owns double-track road from
Brooklyn (Union Depot), Fifth Avenue and 36th Street (terminus
UnionElevated R.R.), via Bath Beach and Ben.sonhurat to Coney Island,
has trackag to 39th Street Ferry. Reorganized In 1885.
6>fl miles, an
Common stock. $500,000 (par$100). Preferred stock authorized, $100,000: outstanding, .$")2,0<>0. Preferred stock and secoud mortgage
bonds authorized in 1892 for imi)roveraeuts. July 1, 1892, there were
also loans, bills payable and mortgages for $71,028.
I'he series A
bonds are subject to call after Jan. 1, 1897. In year ending June 30,
1892, gross earnings were $78,274, against $103,060 in 1890 91
delicit, $1,879: Interest, $31,094; deficit, $32,973, against $14,948 in
1890-91. V. 55, p. 506.
Brooklyn Elevated.—Owns from Fulton Ferry and Brooklyn
Bridge via York Street, Ac. to East New York, G^ miles Broadway and
Lexington Avenue to Broadway Ferry, 2% miles, au<l Myrtle Avenue to
Adams Street and Brooklyn Bridge, 4% miles; branch to Greenwood, 3>9
miles; total, 18 miles. In Oct., 1890, consolidated with the Union Elev.
and in June, 1892, stockholders voted to consolidate with the Seaside
& Brooklyn Bridge Elevated RR. The cousolidatiou, which will take
place when the Heaside road is completed, will result in an increase of
only $10,000 in Brooklyn Elevated stock. Of the Seaside road 1'^
miles toC'jiiress Hill Cemetery is under contract to be completo<l by
March 1, 1893, and the line to 39th Street ferry by June 1, 1893.
Stock and Bonds.- Stock is $13,283,600 (par $1(X)). If not earnings suHlce. a sinking fund of one per cent will purchase Brooklyn
Elevate<l 2d mortgage bonds if obtain able at 90 and first mortgage
bonds at 105— no bonds drawn.
The Union Elevated first mortgage is for $7,000,000; the second for
$2,500,000; trustee of both. Central Trust Company. See abstracts In
V. 49, p. 583. Application in full to New York Stock Exchange was In
Chronicle, V. 48, p. 129. See also V. 49, p. 471.
The Seaside Company will issue first mortgage bonds for $3,000,000
for the coiistruftiiin and equipment of the I'oads north of Sixty-fifth
Street and $1,000,000 for those south of It. Ot these, $1,500,000 for
lines to Cypress Hill and 39th Street ferry, about 4 miles, were offered
to stockholders in October, 1892, at 92 >s, the issue being underwritten.
V. 55, p. 722.
AnnualReport.— Fiscal year ends June 30. Annual statement for
1891-92 with balance sheet was in V. 55, p. 421, showing gross earnings, $1,825,326: net, $794,799: total net (Including other income),
taxes, .$30,100; rentals, etc., $2,503;
$804,126; interest, $028,711
balance, suridus, $142,7.50. In 1890 91 gross, $1.74ti,50i); net, $750,638; total net, $709,3 10. Henry W. Putnam, President. (V. 53, p. 250,
;
:
)
&
&
;
;
603, 754;
V. 54, p. 597, 761, 924, 1048; V. 55, p. 21, 298,
BuBTalo Bradford
ft
4al, 722.
PIttsbura.—Owns from CarroUton,
N. Y.
26 miles. Completed In 1800, and leased to New
Western for 499 years. Rental, 7 per cent on outstanding bonds, .$40,6t)0 a year. Capital stock, $2,286,4»0 par $100.
BnlTalo New Vork ft Erie.—Owns from Buffalo, N. Y., to Corning, N. Y., 142 miles. Incased in 1863 to the New York ft Erie for 490
years, and new operated by the New York Lake Erie ft Western Company.
Rental, $238,100— viz., 7 per cent on stock and bonds and
$5,000 for organization expenses. Dividends and Interest paid directly
to Ollesvllle. Pa.,
York Lake Erie
ft
;
by the
lessees.
.
^h
„
total operated, 304 miles.
;
Organiz.vtion, etc.— Formed in March, 1887, as successor of the
Rochester & Pittsburg, which was foreclosed In October, 1885. In
April, 1890, a controlling interest in the stock was purchased by a
Buffalo syndicate, headed by the Bell, Lewis ft Yates CJoal Mining
Company, a certain coal tonnage being guaranteed to the railroad for
five years. See V. 50, p. 560, 589. The entire capital stock ot the
Rochester ft Pittsburg Coal ft Iron Company is owned.
Contract with Readino. etc.— In May, 1892, a traffic contract was
made with the New York Central as lessee of the Beech Creek RR.
and the Philadelphia & Reading. The contract Is for fifty years and
Involves the coustruction of twenty-seven miles of road from Du
Bois on the Buffalo Rochester ft Pittsburg to a connection with the
Beech Creek road at Clearfield, Penn. The Beech C!reefc road has a
trackage arraugement by which it reaches Williamsport, where connection is made with the Reading system. The principal outlets of the
Buffalo Bochester & Pittsburg for soft coal have been on Lake Ontario
and Lake Erie. The new arrangement will give it an outlet to .\tlantlo
tidewater. The road will be built by the Clearfield ft Mahoning RB.
Co., with a guarantee of its bonds and stocks by the Buffalo Roch ester
ft Pittsburg.
See V. 54, p. 799; V. 55, p. 858.
DiviDENijs.— On preferred stock dividends have been paid as follows:
In 1892, Feb., IH; May, IH; Aug., I14; Nov.. 1^.
Bonds.— Of the general mortgage (trustee Union Trust Co. of N. Y.)
for $10,000,000, there are $().00(),000 reserved for prior bonds. See V.
54, p. 203. There are also $j,000 incomes, due in 1921, mortgages on
real estate for $292,500, due lu 1895, and $20,000 Perry Railroad
guaranteed 78 due 1902, and on Oct. 1, 1892, loans and bills d avabls
'
for $325,000.
General Finances.-The change in the ownership of this cmnpanr
in 1890, montiouod above, greatly Improved Its business, and la
May, 1892, it began dividends on the preferred stock. Thecontraot made
In 1892 with the N. Y. Central and the Reading will .also havo an important bearing on the company's future. See above. In July. 1893.
$100,000 generiU 5s were issued.
Latest Earnings.- Prom July 1, 1892, to Sept. 30, 1892, (3 months).
gross, $854,438, against $740,293 In 1891; net, $202,571, against
Buffalo Creek Railroad, 4 miles
$254,993 interest, taxes, rentals and improvements, $174.(550, against
$179,965; bala»fe, surplus, $37,920, against $75,02a
Annual Report.— Fiscal year ends June 30. The annual meeting is
held at New York on the third Monday in November. The report for
1891-92 in tuU was In V. 55, p. 855, 858.
1889-90
1890-91.
1891-93.
Gross earnings
$1,953,967 $2,511,484 $2,947,106
Net earnings
$547,299
$628,974
$756,726
Other income
25,657
30,674
52,555
;
Total receipts
on bonds.
Interest
$572,956
$468,332
Rentals
$659,648
700
...
Int on floating debt.
,
$496..357
15,841
73,019
72,984
$809,281
$518,781
23,709
73,195
Total disbursements
$542,052
$585,18'.!
$815,686
Surplus. ...f
$30,904
$74,465
$193,595
-(V. 52, p. 239, 707: V .53, p. 224, 673, T53, 753; V, 54, p. 203. 243.
s«.
•
.
.1
761, 887; V. 55, p. '2.57, 806, 85S.)
Baflnilo ft Southwestern.—Owns from Buffalo to Jamestown.
N. \., 67 miles. In July, 1880, leased to the New York Lake Erie *
Western for 99 years— at 35 per cent of gross eanilngs, but Interest on
bonds guaranteed. Rental in year ending June 30, 1891, $149,558:
surplus over dividends, $9,700; in 1889-90. $138,334. Stock—common,
$471,833 (of which Alleghany Valley Railway owns $235,916), and
$471,833 of 7 per cent preferred; par, $10o. Common stock shares
dividends after 7 on preferred. Dividends— On common, in 1889, 1890
and 1891, 1 per cent; in 1892, August, 2 per cent
Burlington Cedar Rapids ft Northern.—Road.—On Jan. 1.
1892, oi>erated from Burlington. Iowa, to Albert Lea, Minn, (including IX
miles lea-sed) '253 miles; branches— Linn, Iowa, to Postville, Iowa, 94
miles; Muscatine, Iowa, to Riverside, Iowa, 3 1 miles; Vinton, Iowa to
Holland, Iowa, 48 miles ; Iowa City to W^hat Cheer and Montezuma.
73 miles; Clinton Division, 81 miles; Dcoorah Division, 23 miles:
Iowa Falls Division, 430 miles; Waverly Division, 6 milos; Fojesi
Division, 7 miles: Davenport Dlv., 31 miles; total operated, 1,083
miles,
of
which 426 miles owned and 656 miles leassdi,
An extension is being built from Forest City and Esthdsvlile, la., of which 40 miles to be oomplct«<l lu 1892.
This eomnanjr
has a perpetual lease of those lines (Included above) built by th e Iowa
C!ity ft Western, the Cedar Rapids Iowa Falls ft North Western, tjjn
Cedar Rapids ft Clinton and the Chicago Deeorah ft Miunesota.
HisTOiiv.— Successor to the Burlington C^dar Rapids ft Mlanesotk
foreclosed June 22, 1876.
.
,
^
,
mVESTOES' SUPPLEMENT.
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MAP OF THE
U
i\Morewol[
^Mt.PJeasant
BUFFALO, ROCHESTER
TEverson
Somcrsetd
/Connellsville
i
pMuUnlon
^reensburg^
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Cumberland;
R'Y
,
I
c
.
RAILROAD STOCKS A_ND BONDS.
NoveuBBB, 18M.]
Subscribers
;
irlll
19
eonfer a great favor by KlTlns Immediate notice of any error discovered In these Tables.
.Bond*— Pilnd-
INTEREST OR DtVIDENDe.
KAILEOADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by
Par
of
for explanation of column headings, &o., see notes of
Road. Bonds Value. Outstanding Cent.
Payable
Whom.
on flrst page of tables.
SurlingloH Cellar Rapids
li Norlk'n~( Concluded.)
I. F. AN. W. do. consol. Ist M., gold, guar..
c*&r
B.C.R.&N. con. IstM. c&col. trust, gold
MtuneniHilis & St.Loui8,l8t niort.,gold (assumed)
Calgary it JCdmoiUon.—lst M.,red. at 110,Julyl,96)
O. R.
Oalifornia l'aci/tc—l»t mort., gold (ext'd in 1887)..
2a M., gold, endorsed by Cen. Fac, cxten. in 1891
3dmort.,g..guar.livCent. Pac. (.$1,000,000 are 38)
Cambria <« Vlear/teld.—lat M. ($2,000,000) gold.o*
Oamdcn A A llanlic—St^c^ ($880,250 of It nref .) ....
Ist mortgage (extended 20 years in 1873)
c*
2d mortgage
0*
Consol. mort. ($1.')0,000 arc 5s reg., int. at office) o'
Phil. Marl. A Mod. 1st M. gu, red. aft. July 1, '96.0
Cainden
<£
Burlington County.— \»t mortgage
Canada Atlantic— \»t mortgage, gold
Canada Southern— Stioc\i
Ist mort., interest guar, by N. Y. C,
2d mortgage
Canadian Variflc—Stook
A Hud.
o*
o*
Riv.o
cAr
408
AU
12
300
114
114
114
61
79
79
79
79
12
31
142
436
404
404
3 p. o. dlv. till '93).
Can.Cent.KR.lstand2dmorts„l8tM.s.f.,dr.atl05
*100Ao
'82-'83
Quebec Pro v. due on Q. M. O. & O. and N. 8. RR.
Can. Pacific, land mort, gold (redeem at 110)
1881 500 Ac.
Ist mortgage delienture sterling
2,856 1885 illOOAc
1st mort. on Algoma Branch, gold
1888 « 100 Ac
o*&r 183
Land grant l)onds. Int. gu. by Can. Gov't... c*ir
1888 £100 Ac
Consolidated perpetual delieuture stock
1889
Manitoba 8. W. Col. R'y $12,000 p. m.. Int. guar.g 213 1884
1,000
Atlantic & Northwest l.it mort. gold, guar..c*4r 325
1887 «100Ac
North Shore Railway— 1st mortgage
Bt. Lawrence & Ottawa— Ist mort., gold, see text
£50 Ac
"sa 1876
Ontario A Quebec stock guaranteed in perpetuity 334
$100
(guar.
—
Ont.
& Que.
A O. N. Y. Central Trust.
do
A O.
do
A D. N.Y. Continental Trust.
London.
A J.
A J. N.Y.,8.Pac.Co.,23Br'd.
do
A J.
do
A J.
do
do
A J. Fhlla.,Of.,233B.4th8t.
Phlla., Of., 233 8.4th St.
AJ. Phlla., Farm. A M. B'k.
do
do
A O.
do
do
A J.
A J. Phlla., Of., 233 8. 4th St.
A A. Phlla., Penn. RR. Co.
New York City.
A J.
A A. N. Y., Or'd Cent Depot.
A J. N. Y., Union Trust t)o.
do
do
A 8.
A A. N. Y., 59 WaU St. A Lon.
Various
Montreal.
5 A6
A. A O.
do
5
A. A 0. Montreal.N. Y.or Lond'n
J. A J. London, Baring B. A Co.
do
do
A J.
5 g.
do
A J.
do
3>ag.
4
A J. London, Comp'ys offloe.
J. A J. N. Y., 59 WaU A Loudon
A J. London, Baring B. A Co.
do
do
A. A O.
15 J. AD. Can. Pac. ortlco, London.
<6) 4
6 per an.
A D. Montreal and London.
5
J. A D.I London, Morton, Rose.
1881 $1,000 $1,905,000
A.
1884 1,000*0
A.
5,313,000
1877 500 Ac.
150,000
.J.
'^•
I
*100 £1,140,400
1890
6g. .1.
1867
1,000
4'«g. J.
$2,232,000
1871
1,000
1,600,000
4'3g. .1.
1875
500
2,998,000 3g.A6g. .1.
1891
1,000
750,000
5 g. J.
50
1,258,150 3 on pref.
1853
1,000
490,000
J.
1,000
A.
1879
497,000
6
1881
1,000
500,000
5 A6 .f.
1891
1,000
100,000
.1.
5
K.
1867 500 Ac.
350,000
6
1889
1,000
3,450,000
5 g. J.
100 15,000,000 See text. F.
1,000
1878
13,923,600
5
J.
M
1883 l,0O0Ao
5,650,000
5
100 65,000,000 5 per an. F.
1,823,333
7,000,000
3,426,000
34,998,633
3,650,000
$15,000,000
£6,198,125
$2,544,000
£1,330,000
£99,600
£200,000
$2,000,000
£4,007.381
deben., interest euar. in perpetuity.
pal, When
Due
/9(oeAc«— Last
Dividend.
.1.
1921
1»34
1927
July
1910
Jan.
1913
Jan.
1911
July
1905
Jan.
1941
Dec.
1889
Deo. 31, 1892
Oct. 1, 1899
July 11, 1911
July 1, 1911
Feb. 1, 1897
Jan. 5, 1900
Aug. 1, 1892
Jan. 1, 1908
Mch. 1, 1918
Aug.l7, 1802
1899 A 1910
1902 A 1904
Oct 1, 1981
July 1, 1915
July 1, 1937
July 1, 1938
.1.
Irredeemable
.1.
.1.
.T.
Oct.
Apr.
June
June
1,
1,
1,
1,
1,
1,
1,
1,
9,
1,
1934
Jan. 1, 1937
Apr. 20, 1904
June
15,
1910
Dec. 1892
Irredeemable.
Stock.— Authorized. $30,000,000; outstanding, $5,500,000; par, $100. A Trust Company. The bridge across the St Lawrence was completed
Feb. 15, 189(5. Stock. $2,000,000 common and $1,000,000 preferred.
The Rock Island Co. Is understood to be a large stockholder.
Bonds.— Iowa City A Western bonds are guaranteed as to interest Earnings In year ending June 30, 1891, gross were $558,831; net,
$221,077. In 1889-90 gross, $567,235; net $225,146. <V. 51, p. 493.)
and are subject to call at 105. Cedar Rapids Iowa Falls A Northwestern
bonds are guaranteed, principal and interest, and so endorsed; the 6s
Canada Sonthern.—Ling of Road—Main line from Cantilever
are subject to call at 105. Of the 5 per cents $825,000 are reserved to Bridge to Windsor, Ont, 226 miles; branch, Aniherstburg to Essex
retire the 6s. The Central Trust Company Is trustee of the Burlington Centre, 16 miles Fort Erie Branch, 17 miles Oil Springs Branch,
3
€edar Rapids A Northers consolidated mortgage, xindor which sufflbonds arc reserved to retire, if deemed beat, all prior and divisional bonds. Bonds for extensions may be issued under this consolidated mortgage at $15,000 per mile for single track and $7,500 pir
4)lent
mile for second track, the total authorized issued not being limitod.
Minneapolis A St. Louis bonds due June, 1927, numbered from 1,101
to 1,400, for $500 each ($150,000 in all), were assumed by the Burlington Cedar Rapids A Northern Railroad. Due on eaulpment Jannary 1, 1892, $255,057.
Latest Earnings.-January 1 to Sept. 30 In 1892 (9 months), gross,
$3,046,868, against $2,637,895 In 1891; net $776,890, against $768,866.
ANNUAL Rbport.— Fiscal year ends December 31. Annual meeting
is held on last Tuesday In May. Report for 1891 was In V. 54, p. 641.
1888
1889.
1890.
1891.
Gross earnings
$2,848,076 $2,986,543 $3,303,982 $3,886,340
Net earnings
$771,447
$816,147 $1,272,696
$808,609
Other receipts
61,282
96,308
105,256
24,410
Total net income... $832,729
Interest on debt
$771,130
Oonst'n, equip., Ac. .
247,669
Tot
.$904,917
$771,130
154,128
dlsbursem'ts.. $1,018,799
$925,258
def .$186,070 def .$20,341
p. 422, T02 ; V. 51, p. 275; V. 52, p.
$921,403
$775,479
150,314
$1,297,106
$778,055
632,871
$925,793
;
;
miles; St. Thomas, Ont, to Courtright, Ont, 63 miles; Erie A Niagara,
31 miles Sarnia Chatham A Erie, '7 ; Canad.a Soutliern Bridge A Ferry,
4 Toledo Canada Southern A Detroit, 56, and Michigan Midland &
Canada, 15; total of all lines operated, 436 miles, of which 105 miles
are nominally owned by proprietary companies.
Organization, Contracts, Etc.—The Company was chartered In
Canada February 28, 1868, and debt reacy usted in 1878. In Nov., 1882,
a close contract was made with the Michigan Central for 21 years
from January 1, 1883, providing for the payment to Canada Southern
of one-third the Joint Income over all fixed charges, but Mich. Central,
by reduction of its Interest charges, now receives more than two-thlrdg.
Dividends since 1880— In 1881, 2>fl per cent; In 1882, nil; in 1883
and 1884, 2; In 1885 and 1886, nil; In 1887, 1888 and 1889L 2is; In
1890, 3I9; in 1891,21a; In 1892, Feb., l^H, of which I3 extra; in Aug. ,114.
Bonds. Interest on the 1st mortgage Is guaranteed by the New York
Central RR. Co. till 1898, but the principal is not guaranteed.
Earnings.- From 1891's earnings the surplus to Canada Southern
was $446,776; other Income, $5,908. (against $355,033 in 1890.) Dividends $450,000; surplus for year $2,684; total surplus Jan. 1, 1892,
$218,417. (V. 54. p. 923.) For latest reports of earnings see Michigan Central.- (V. 53, p. 968; V. 54, p. 923; V. 55, p. 21.)
;
;
—
$1,410,926
Canadian Paclflc—Road—Ovms from Montreal to Vancouver on
the Pacific Coast In British Columbia, 2,905 miles. There are branches
and auxiliary lines owned of 991 miles, and 1.946 miles of leased
lines; 56 miles used jointly: 781 miles operated independently for acCalirornla Paclflc—Owns from Valli^o, Cal., to Sacramento, Cal., count of owners. Including the Calgary A Edmonton RR., of which 110
60 miles; l)ranchos to Callstoga, Ac., 55 miles; total, 115 miles. In miles are under construction, making the wiiole system on January 1,
November, 1886, leased for 50 years to Southern Pacific Company. 1892, Including the New Brunswick Railway, 6,679 miles. (See details
Rental, .$600,000 per annum and three-fourths of net earnings when m in Chronicle, V. 54, p. 847.) The road was opened throughout tOa
excess of that amount. Capital stock. $12,000,000; par, $100. In first of July, 1886.
A line to Niagara Falls and a branch from R^ina to a oonneotlon
1891 gross earnings, $1,528,747 net $759,525, against $544,780 in
1890; taxes, etc., $46,455; rental, $600,000; surplus to ios.'Jee, $113,- with the Muineapolis St Paul A Sault Ste. Marie (which see) affording a
069. I.«ssor"s account, rental, $600,000; paid interest, etc,. $328,820; direct line from the West to St. Paul and Minneapolis, are under construction. See V. 55, p. 297. Also controls Duluth South Shore A
extending 2d mortgage bonds, $100,420; surplus to lessor, $170,759.
Atlantic— which see.
Cambria Sc Olearfleld.—To run from Cresson on the PennsylIn April, 1891, a traffic arrangement was made with the New York
vania RR. into the coal fields of Cambria. Cleartleld and Indiana coun- Central for the running of through freight trains over the West Shore
ties, Pennsylvania; in operation from Cresson to Brubaker Junction, tracks to New York City.
See V. 52, p. 534.
26 miles; Brubaker Junction to La Joae. 9 miles; brandies, 26 miles;
History, Etc.— Incorporated February 18, 1881, under a charter
Stock -autliorizod, $2,150,000 (par $50); paid In
total, 61 mile^.
$750,000, all owned by the Pennsylvania RR. Co., which nays not from the Domini on of Canada. An important contract in Its charter
earninga as rental. The bonds are free of all taxes imposed by the gave it from the Government $25,000,000 in cash as a subsidy, also
State of Pennsylvania or the United States. A full abstract of the 25,000,000 acres of land, all to be fit for settlement The Ontario
mortgage was in V. 52, p. 976. In 1891 on 40 miles net earnings were A Quebec, Montreal to Toronto Junction, 334 miles, was leased In 1883
for 999 years, and its stock and bonds guaranteed. In July, 1890,
$35,283. (V. 52, p. 973, 976.)
leased the New Brunswick Ry. for 990 years.— (See V. 51, p. 113.)
Camden Sc Atlantic—Owns Camden, N. J., to Atlantic City, and Stock.— In Nov., 1883, the Dominion Government gave a guarantee of
branch, 62 miles; Atlantic City to Longport,
miles; Philadelphia Marl- 3 per cent dividends per annum till Aug.,
1893, on $65,000,000 stock. In
ton A Medford Railroad— Haddonllebl to Meilford, 12 miles; Chelsea 1892 the company obtained authority from the Dominion Parliament to
Balance
—(V. 50,
def .$4,390 def .$1 13,820
640 ; V. 54, p. 641).
;
JBranch RR., 1 mile; ferries, 2 miles; total operated, 83 miles.
Stock, Etc.- Preferred stock is entitled to 7 per cent If earned, and
to as high as paid to common if more than 7. PennsylTanla Railroad
owns $234,100 common and $451,950 preferred stock, and there was
due tliat company January 1, 1892, $275,000; bonds and mortgages
outstanding, $88,300.
DiviDKNDS since 1880: On common. In 1882, 3 per cent, and none
inoe; on preferred. In 1881, 3ia In scrip; In 1882, 4; in 1884, 7; In 1887,
6; in 1888, 2ia; in 1889, 3; none since (prior to June 16, 1892).
Earnings.- From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings
on main line and branches were $683,530, against $666,675 Is 1891
net $166,124, against $163,481; int^ rest r ntal8,itc., $82,700, against
$77,834; liaiana.-, surplus. $83,3(M, against $85.6 16.
On main line and branches in 1891 gross earnings were .$800,970;
net, $151,718; interest on lionds, .$92 620; other intcre-st. $17,827;
rentals, etc., $10,024; balance, surplus, $25,245. In 1890 gross earnings, $799,491; net $130,705. (V. 52, p. 569; V. 54, p. 720.)
Camden
Biirlliiston County.— Owns from Camden, N. J., to
23 miles; braneh, Burlington, N. J., to Mount Holly,
30 miles. Operated l)y the Pennsylvania Railroad,
Lease rental, $44,415, Ijcing 6 per cent on stock and bonds. Stock.
$381,925; par .$25. Dividends In Jammry and July. In 1891 gross,
$273,176 net, $63,787, against $76,745 In '90; profit to les.see, $19,372.
Canada Atlantic.—Owns Ottawa, Canada, to Rouse's Point, Vt
142 miles, with trackage over Central Vermont to St. Albans, 24 miles.
Leases for 99 years the Central Counties Ry., extending from Glen
Robertson to Ilawkesbury, 21 miles. Has traffic contract with the
Canadian Pacific and "Soo" route. The Ottawa Aruprior A Parry
Sound Ry. Is projeoted by parties interested in this oompanv from Ottawa to Parry Hound. 260 miles, of which 33 miles west to Aruprior to
be built in 1892. Trustee of mortgage of 1889 U Farmers' Loan
Sc
Pemberton, N.
7 miles;
J.,
total,
;
issue stock in place of delicnturoa for new acouisitiona, should the shareholders at any time deem it advisable. No immediate iaa\ic, it is said,
is
contemplated, as new stock cannot be issued
See V. 54, p. 202, 848.
till
the present shares
are at par.
Price of Stock— In 1883, 48^9316518; in 1884, 39®58i4; in 1885, 35%
35314; in 1886, 61373; in 1887, 491396838; in 1888. 51i4®62i4: In 1880.
47i«®75; In 1890, 67®84i4; In 1891, 721*391 la; In 1892, to Nov. 18,
inclusive, 86a>94ia.
DiviDBSDS since 1882— In 1883, 213 per cent; in 1884, 5; In
1885,4; from 1886 to 1889 Inclusive, 3 per cent yearly iu 1890, 5, of
which 2 per cent was supplementary out of earnings; in 1891,5 (of
which 2 per cent supplementary); in 1892, Feb., 213; .Vug., 219.
Bonds, DEnENTORB Stock, Guaranteed Bonds, Etc.- -In May,
;
1888, the company voted to relin(|Ulsh its exclusive right to
build and operate in Manitoba, rcceivmg the Dominion Government
?;uarantee of interest on $15,000,000 of land grant bonds. These bonds
or £3,093,700 are a lien on 15,444,200 acres of land subject only to
$3,426,000 land grant bonds of 1881, which arc redeemal>le at 110.
The first issue of consolidated debenture stock was made in Oetob^,
1889 (sec CitRONicLE, V. 49, p. 116). It Is proposed to acquire tte Calfary A Edmonton RR., and to issue debenture stock to retire its bonds,
n May, 1892. the company issued £2,000.000 del)enture stock.
In June, 1S90, conipauv agreed to guarantee the principal and interest of $20,000,000 4 per cents, to be i3sue<l by the Duluth South Shore
A Atlantic; also 4 per cent Interest on bonds of the Minuoapolis St. Paul
A Sault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 52, p. 608.)
To the Atlantic A Niutlnvest Railroad, crossing the State of Maine.
the Dominion (ioverniuent grants a subsidy of $186,000 per year till
1906 and Canadi.au Pacific guarauteos the balance of money necessary
for interest.
St. Lawrence A Ottawa bonds are endorsed with the Canadian Paoifio's
aooeptanoe of a 999 years' lease at a rental aufflolent to pay 4 per oeat
:
.
.
INVESTORS' SUPPLEMENT.
so
[Vol. LV.
confer a great favor by elvlng Immediate notice of any error discovered In tliese Tables.
Bonds— PrtDOiINTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Bate per When Where Payable, and by pal,WhenLast
Par
of
Stocks —
For explanation of column headings, &e., see notes of
Boad. Bonds Value. Outstanding
Cent.
Payable
Whom.
Dividend.
on first page of tables.
Subscribers
nrlll
KAILROADS.
Canadian
Paeifte
Toronto Grey
— (Conclude.) —
<fe
Bruce, let M., gold,
Int.
as rental.
New Bninswlck Ky.l8tM.,gold,lnt.from rental. c*
Perpetual consol. debent. stocfe. Int. guar
Cape Fear <« Tadkin Tatlcy—Btoe^ for $3,000,000
e*&r
Ist Mortgage series A, gold
c*&r
Ist M., 8er. "B," gold (2d on 233 m.)
Ist
., series C, gold (2d mort. on 225 miles.). e*&r
Consolldatedmortgage $15,000 per mile,gold.o*&r
Soiitli Car. Pacific (leased)
1st
—
mortgage
Carolina Central Stock
1st mortgage, gold, (Wilm. to Shelby, 240 m.) .0
2d and 3d mortgages, gold, income, non-cumul. .r
c*&r
Carolina Cumb. Gap <t CTic— 1st M., gold
Carson <t Oolorado— 1st M., Ser. "A," "B" and "C".
Carthage <t Adirondack— 1st mort. for $800,000...
.
2d mortgage
for
$800,000
Calavrissa—Pret. stocks, 7 per cent. guar. P.
<fe
R...
Mortgage bonds
let mortgage, assumed by Philadelphia & Read.
Cavuga Susg. — Stock, 9 p. c. rental D. L. <fe
Cedar Falls Jf(m?i.— Bonos on 2d di v. sink. f>md c*
Cent. Br. U. P.— Ist M. Atch. & P. P. ER., gold
c
W
rf-
<£•
Fund Int.
.
.
.
.
(mort.) bds. (coup, held in trust) gold.c
2d mortgage (Government subsidy)
Central Massachusetts— l»t M., int. gu. by B. & L.c*
Central Ohio— Stock ($411,550 of this Is preferred).
Consol. 1st mortgage (for $2,850,000) gold
c
Central Pacific— Stock
1st M.jSer. A to I, inol., gold (2 sink, fds) not dr'n
Ist M. S. Joaquin Val. Br., g. (s. f.) not drawn
190
174
1883
1884
£100
£719,000
£600,000
£657,911
JSIOO
$ibo
1886
1,000
1,000
1886
1886
1,000
1889
1.000
lOia 1884 100 &0.
276
240 1881
1,600
1,000
240 1881
25 1882
1,000
299 81-'88 1,000
1,000
43 1883
43 1889
1,000
50
98
93 1870 500 &o,
1882
34
30
61 1866 500 &c
1,000
100 1865
1,000
100 1879
100 '66-7-8 1,000
1,000
99 1886
50
144
1,000
137 1886
100
737 1865-8 1,000
1,000
146 1870
338
150
73
82
329
1,960,400
1,500,000
734,000
820,000
1,868,000
104,600
1,200,000
2,000,000
2,700,000
375,000
4,380,000
771,000
182,000
3,200,000
1,300,000
230,500
589,110
1,377,000
1,600,000
630,000
1,600,000
2,000,000
2,860,048
2,500,000
67,275,500
25,883,000
6,080,000
& J. Toronto and London.
& A.
London.
& J.
do
do
J. A D. N.Y'.,'Farm!"L! a'Tt'. Co.
do
J. & D.
do
J. & D.
do
do
I"- A. & O.
A. & O. N. Y., 4th N. Bank, Ac.
& J. Balt.,F'mers'&Plant.Bk
& J.
& N.
New York City.
New York.
I'& J.
& N. Phil.FldeUty Ins. &e. Co.
6
do
do
& A
6
& N. Philadelphia Co.'s oftice
7 per an.
& A. Pliila.,Pliila.&Read.Co.
7
do
do
& A
6
9 per an.
& J. New York, 52 Wall St.
7
& J. Last paid July, 1887.
& N N.Y.,tfn. Tr. Co. Bost.
6g.
do
& N,
do
U.S. Treas., at maturity.
I'5
& O. Boston Office & Int. Tr.
6 per an
& J. Bait., at B. & O. oflice.
413 gM. & S. N. Y., Union Trust Co.
2 per an.: F. & A. N.Y., S.Pac.Co., 23 Br-d.
do
do
6 g. J. & J.
do
do
6 g. !A. & O.
July 26, 2882:
Aug. 1, 1934
J.
F.
J.
Irredeemable.-
June
June
June
Oct.
Oct.
1,
1,
1,
1,
1,
July
1,
1910
Nov.
1,
&
1916
1916
19161919'
1914
19201915'
191^
1911,-'13-'18
May
Feb.
1,
1,
1923
1925'
Nov. 19, 1892:
Aug. 1, 1900'
Aug. 1, 1902
July 2, 1892
Jan. 2, 1907
May
May
1,
1,
1896,
'97, '98
Oct.
<fe
1,
189S
ISg^
1906
July 30, 1892
Sept. 1,
Aug.
1,
1930
1892
1895,'96,'7&'8
Oct. 1, 190O'
I
Central Branch Union Faclflc—Owns from Atchison, Kan., tointerest on bonds, and the bondholders' agreement to accept interest
at 4 per cent (instead of 6 per cent as formerly), and to refrain from Watervillo, Kan., 100 miles; leases Atchison Colorado & Pacific, 254
miles Atchison Jewell County & Western, 34 miles total operated,
demanding payment of principal during continuance of lease.
The New Brunswick Railway consolidated debenture stock has 388 miles. This company was formerly the Atcluson & Pike's Peak RB.
Interest guaranteed by C. P.; interest on the first mortgage bonds, and had a United States subsidy of $1,600,000. Controlled by Union.
Pacific, but lea.sed to Missouri Pacific for 25 years from Sept., 1885;
though not guaranteed, is paid out of rental under 990 year,s' lease.
Lands.— Lands unsold Dee.31, 1891, were 15,444,200 acres of Can- rental, net earnings. Stock is $1,000,000 (par, $100), of which th*
adian Pacific grant and 1,267, 308 acres of Manitoba Southwestern grant. Union Pacific owns $874,200; accounts payable, $1,052,845 interest
Total sales in 1891, from both grants, were 97,240 acres for $414,945. on Government loan accrued and unpaid, $1,853,239.
Dividends.— In 1885, 5 per cent; In 1886, 10; In 1887, 10; none since.
Latest Earninos.— Jan. 1 to Sept. 30 in 1892 (9 months) gross
Earnings.-Jan. 1 to Sept. 30 (9 months), gross earnings $978,053 In
15,314,003, against $14,282,700 In 1891; net, $5,572,414, against
1892, against $563,807 in 1891; net, $357,083, against $94,203. In
f 5,162,786.
1891 gross earnings, $894,161 net, $246,073 deficit under charges,
Aknuai, Report.—Fiscal year ends Dec. 31. Annual meeting is held
In 1890, gross, $974,472 ; net, $198,413.
at Montreal on the second Wednesday in May. The report for 1891 in $243,189.
full tn the Chronicle, V. 54, p. 823, 843, 847, showed the following
Central ITIassachnsetts.—Owns North Cambridge to Northami>
*1890.
1891.
ton, Mass., 99 miles. Formerly the Massachusetts Central, sold in fore
1889.
closure September 1, 1883. The stock Is .$7,419,202 (par $100), o
Miles operated December 31..
5,678
5,029
5,568
Passenger earnings
$4,774,714
$5,459,789 which $3,949,102 is preferred and controls the company until 8 pe
$4,520,741
Freight
10,106,644
12,665,540 cent dividends shall have been earned thereon in any one year. Leased
8,852,202
Mall.expr'ss and miscellaneous 1,657,717
1,671,171
2,115,767 to Boston & LoweHfor 99 years from October 1, 1886, at a rental of 20
per cent of gross earnings up to $1,000,000, but with a guarantee of
Total earnings
$15,030,660 $16,552,529 $20,241,096 sufficient rental to pay interest. New issue of bonds proposed, but
Operating expenses
9,024,601
12,231,436 none issued to Sept. 1, 1892. It was said the road will be double10,252,828
tracked. (V. 53, p. 753.)
;
;
;
;
Net earnings
$6,006,059
Per ct. of oper. exp. toeam'gs.
60-04
Fixed charges
$3,779,133
Supplementary dividends
650,000
$6,299,700
61-94
$4,246,617
1,300,000
$8,009,660
60-43
$4,664,493
1,300,000
;
Central Ne«- England *: Western.—See Philadelphia Read& New England.
Central Obto. — Owns from Bellaire, Ohio, to Columbus, Ohio, 137
miles; operates St. Clairsville branch, 7 miles. The road between
Balance
$1,576,926
$2,045,166 Newark and Columbus (33 miles) is owned lointly with the Pittsburg
$753,083
Cincinnati & St. Louis Railroad Co. Leased to the Baltimore & Ohio
— (T. 54, p. 202, 587,799, 823, 843, 8-17, 887; V. 55, p. 100, 297.)
with option of renewal by the lessee rental, 35 per cent of
Cape Fear & Yadkin Valley.—In operation from Wllming" till 1926,
gross earnings, with minimum guaranteed rental of $166,000.
ton, N. C, to Mount Airy, 248 miles
Fayetteville, N. O
to BenDividends on common stock since 1880 have been In 1881, e^a p
nettsville, 8. C, 57 miles; Factory branch, 19 miles; Madison and from 1882 to July 1, 1892, both inclusive, 6 per cent yearly.
Granite branches, 14 miles total, 338 miles, of which 10 miles from
Earnings.- In 1890-91 gross, $1,365,563; net, $187,542, against
South Carolina State line to Bennetts-villo is leased from the South $309,809 in 1889-90; aU charges, $509,072; loss, $321,530.
Carolina Pa -iflc Railway, the rental being interest on its bonds.
Extension to Virginia State line is graded.
Central Vnclfle.— (See Map of Southern Pa^i^c.;- LINE OF ROAD.—
Stock authorized, $3,000,000; outstanding, as in table above, of which —Main Line— San Francisco, Cal., to Ogden, Utah (including 11 miles
July 1, 1892. North Star Improvement Co. held $1,608,000.
leased) 883 miles Lathrop to Goshen, 146 miles Rosevllle Junction to
Bonds.— First mortgage (trustee Farmers' Loan & Trust <^o.) is in Oregon State Line, 296 miles other lines, 35 miles total operated and
ing
;
;
,
:
;
;
,
;
;
;
three series, each a Urst lien on one division of the road and a second
lien on the otner divisions subject to the mortgage.
North State
Improvement Company, rirtually the owners of the road, hold the
$1,868,000 consols outstanding, and have agreed not to draw interest
upon thorn unless fully earned. No car trusts Sept 1,1892.
Earnings.— July 1, 1891, to Dec. 31 (6 months) gross earnings $300,171, again.st .$306,664 in 1890
net, $106,761, against $133,335. In
year ending June 30, 1891, gross earnings were $589,829 ; net, $239,458 obligatory interest charge, $183,24(5. (V. 53, p. T52).
Cape Olrardean Soutliivest,—See St. Louis Cape G. & F. S.
Carolina Central.— Owns from Wilmington, N. C, to Rutherfordton, N. C, 267 miles, except 3 miles leased ; and branch, 9
miles; total, 276 miles.
Defaulted in 1876 and sold in foreclosure May 31, 1880.
Controlled by Seaboard & Roanoke and
Raleigh & Gaston. Stock, $1,200,000. In year ending June 30,
1891, gross earnings were $612,306; net, $184,831; interest, rentals, &c., $161,447; surplus, $25,429.
There are also $160,000
first mortgage 7 per cent Wilmington Railway Bridge Co. bonds, due
October 1893 to 1897, averaging $31 ,000 yearly, and $46,000 second
uortgage 5s, due Oct. 1, 1898 and 1899, both issues being guaranteed
oy the Carolina Central, the Wil. Col. & Aug. and the Wll. & Weldon
roads. (V. 53, p. 712.)
;
;
Cata-»vls8a.—Owns from Tamanend, Pa., to WilUamsport, Pa., 93
branch. Summit Station to Silver rook. 4 miles total operated,
98 miles. Leased from Novemlier 1, 1872, for 999 years to Philadelphia
& Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
company expenses. Fuuded debt was assumed by lessees. There are
alsD chattel mortgage 5s duo 1900 $'24,500; 7 per cent construction
bonis due June 1, 1917, $62,000, and other bonds, $18.3,000. Seven per
cent is guaranteed on preferred stocks, of whicli $2,200,000 is first pref.
miles
.'
;
;
Common stock, $1,159,500, par $50. In 1890-91 rental $338,830.
Cayusa &. SUHquebanna.—Owns from Susquehanna River
to
Ithaca, N. Y., 34 miles. Charter expires in 1899. Leased tiU then to
Delaware Lackawanna & Western at a rental of $54,6(X) a year. Dividends in 1891 912 per cent.
Cedar Falls & minnesota.— Owns from Junction near Cedar
Falls, Iowa, to Minnesota State Line, 76 miles. Leased to Dubuque A
Sioux City in 40 years from January 1, 1867, at niiniinum rental of
113, 370
nnum. In
suit was brought to annul the
?his road, and in October, 1887 athe United States Circuit Court lease of
1890,
decided
lease was valid. See V. 51, p. 493. Case has been appealed to the
United States Supreme Court. Interest was defaulted January, 1888,
and rental is paid luto court pending litigation. Tlic Dulmque & Sioux
City is controlled by the Illinois Central
Stock, $1,586,500, par $100.
Earnings.— lu year ending June 30, 1892, gross earnings were
17,311 deficit, after payment of taxes, $16,991 rental, $113,370;
?!1
,
ii
;
;
OSS to lessee, $130,362.
J.
Kennedy Tod,
President.
accounted for January 1, 1892, 1,360 miles.
THE Charter, Leases, &c.— A consolidation (August 22, 1870) of tha
Central Pacific (organized October 8. 1864), etc. Interest is not payThe
able on the Government subsidy loan till the bonds mature.
"Thurman " act of May 8, 1878. provides for payments yearly to the
Government sinking fund. See V. 50, p. 276. January 1, 1892, princi^
pal due Government, $25,885,120; interest, $28,952,236; par value of
securities in U. S. sinking fund was $4,047,500.
In March, 1885, the Central Pacific lines wore leased to the Southern
Pacific Company. The Central Pacific receives all its net surplusincome above annual charges of every sort and betterments, and this
net surplus income is guaranteed to be not less than $1,360,000 yearly,
this sum being applicable to the payment of dividends.
Dividends— In 1877,8 per cent; 1880, 6; 1881, 6; 1882, 6; 1883,
6 1884, 3 1888, 2 1889, 2 in 1890, 2 In 1891, 2 in 1892, 2.
Bonds.-The sinking funds are invested mainly in bonds of tributary lines and accumulate the bonds are not called in. The sinking
funds amounted January 1, 1892, to $8,979,391. The 5 per cent mortgage bonds of 1889 are guaranteed principal and interest by tlie South;
;
;
;
;
;
;
ern Pacific Company; the mortgage is for .$16,000,000, the Metropolitan Trust Co. of N. Y. being trustee. (V. 49, p. 340), and of the amount
authorized $2,250,000 ar r^-sirved to r«tir at maturity any land
grant bonds not redt^emed from land sales, and $2,750,000 can be applied only to the improvement or purchase of prop -rty on wliich the
mortgage shall liavr a first lien. "There are still outstanding $56,000 6
per cents (interest A. & O.), due Oct. 1, 1936.
The land grant bondi; duo October 1, 1890, wer3 extended till October
1, 1900, at 5 per cent and stamped with the Southern Pacific Comjiany's
guaranty of principal and interest. The Cal. & Oregon 1st bonds Series,
"B," due Jan. 1, 1892, were extended to Jan. 1, 1918. V. 53, p. 639.
The Land Grant.—The total land granted the Central Pacific and the
California & Oregon companies was about 12,000,000 acres, of wliici
about 2,812,000 acres had been sold to Deceml)er 31, 1891. S.ales in
1891, 71,313 acres for $290,103. Laud contracts on hand January 1,
1892, $1,187,802; ca.sh, $366,562; notes of Cent. Pac. RB., $2,000,000,
Operations, Finances, &c.— First dividend under the lease was paid
February 1, 1888, and dividends have been paid regularly since at rate
of 2 per cent yearly.
From Jan. 1 to Sept. 30, 1892 (9 mos.), gross earnings were $11,034,801, against $12,429,808 in 1891; net, $4,407,031 ,agst. .$5,092,222.
In 1891 gross earnings $16,629,104 (against $15,937,004 in 1890);
net, $7,417,354, against $6,061, 986 in 1890; net profit under the le;ise,
$2,144,425, against $999,223 in 1890; other income, $8,400; dividends
paid (2 per cent), $1,345,510; surplus, $807,315; Tliurman Act requirement for former years, $334,754. Land sales used for redemption of
land bonds, $352,771. Total suriilus income to January 1, 1892,,
$3,407,858. (V. 53, p. 604, 639; V. 54, p. 884, 964.)
•
November,
1893.J
EAILROAD STOCKS AND BONDS.
31
.
99
s
:
)
INVESTOIIS' STJPPLEMENT.
[Vol. LV.
Subscribers will confer a great favor by glvlnfc Immediate notice of any error discovered In these Tables.
BAILROAD8.
Tor explanation of column headings,
on first page of tables.
ijic.,
Size, or
of
Par
1865
1869
1869
1868
1872
1870
1889
$1,000
1,000
1872
1890
1887
1881
1,000
1,000
1,000
1890
I'.OOO
18
1890
500 &c.
100
6
78
38
38
—
1,000
1872
1874
1,000
1,000
1883
1869
1,000
1879
600
1882
1,000
1892
1887 506' &c.
1867 500 <fcc.
1881
1,000
620
311
c*
Consol. mort. for $13,000,000, gold, red. at llO.c*
Collateral trust bonds, gold, redeemable at llO.c*
Certs, of debt, jiay able at option.
Equip, notes on Ott. 1, 1892, in
incl. int. to maturity
Oc'eaii 88. Co. Ist mortgage, gold, guaranteed. ..c
Hoboken Wharf notes, including int. to maturity
Barannah <fc Atlantic 1st mortgage, assumed. ..c"
Cent. MR. ofK. Jersey— &toiik ($30,000,000 author.)
Bonds, secured by consolidated mortgage of 1874
.
1,600
1,000
1,000
1,000
i'oo
Consolidated mortgage (now first mortgage)... c*
Convert, debentures, convert, into stoclc till 1907
o*
c*
N. J. Southern 1st mortgage
N. Y. & L'g Brancli Ist M., red. in 1899 at 110, g.o*
General mortgage, for $2,500,000
Cent.RR.of N.J., Gen.mort.for$50,000,000,g.,c&r
Lehigh Coal & Nav., mortgage, gold, assumed.
Am.Dook&lmp.Co. 1st M. guar., redeem, at 1 lO.o'
.
,
Beal estate bond and mortgages
$25,883,000
J. & J.
111,000
J. & D.
f «• J. & J.
2,624,000
6 g.
Various
1,970,000
5,982,000
J. & J.
4,358,000
5 g. J. & J.
3,550,000
A. & O.
11,000,000
A. &. O.
1,.500,000
l^7,500,000 See text.
4,999,000
J. & J
7
See text.
5g. A. & O.
M. & N,
4,880,000
4,600,000
J. & J
872,439
1,000,000
'eg. 3."&'3.
287,935
5"'
250,000
M. & S.
22,468,000 7 per an. Q.-F.
1,167,000
M. & N
7
3,836,000
Q.-J.
7
494,000
M. & N.
6
197,000
J. & D,
7
411,000
6
J. & J,
1,500,000
5g. J. & D.
%'
100
.
Long Branch & Sea Shore, 1st mortgage
pal,When Due.
Amount
Rate per When Where Payably, and by
Road. Bonds Value. Outstanding
Cent Payable
Whom.
Central Pacifle—f Concluded).—
737
V. S. Lonn (2(1 lien on certain terms) gold
Western Paclflc, old Issue, gold
147
Western Pacitlc 1st mortgage, series A &B., gold. 147
123
Western Pacilic, Government lien, gold
Cal. & O. 1st M., ser. A, g. (exte'd) ) s. f. yearly,
296
Do
do ser. B, g. (exte'd) 5 not drawn.. 296
Land grant Ist M., gold, guar., extended In 1890.
Hort. gold, 5s, 1939, Id. gr., guar., s. f., not dr'n.c 1,261
Notes due land grant fimd ($500,000 due yearly.)
Central XE. <t Banking Co. of Ocorgla Btook
General mortgage "tripartite" bonds
Bojirfs— Prlncl-
INTEREST OR DIVIDENDS.
Date
Miles
of
see notes
36,460,000
2,310,000
4,987,000
232,522
The following
Central Railroad Ic Banking Company of Georgia.—
Map)—Oyins from Savannah, Ga., to Atlanta, Ga., 294 miles; 1892.
United States Treasury.
N.Y., S.Pac.Co., 23 Br^d.
do
do
United States Treasury.
N. Y. S.Pac.Co. 23 Br-d.
N.Y.,8.Pao.Co.&London
do
do
N. Y. & San Francisco.
New York.
,
,
1895 to 1898
1, 1895
July 1, 1899
1895 & 1899
Jan. 1, 1918
Jan. 1, 1918
Oct. 1, 1900
Apr. 1, 1939
Dec.
Oct.l,'93to'95
Jan., 1892
Jan., '92, div. last paid.
Jan.,'92,coup. last paid. Jan. 1, 1893
Aiir.,'92,coup. last paid. Apr. 1, 1937
N. Y., Security & Tr. Co. May 1, 1937
Jan. .'92, coup, last paid. After July. '91
N. Y., Atlantic Ti-ust. 1892 to 1897
N. Y., Security & Tr. Co. July 1, 1920
1893 to 1898
do
do
Mar. ,'92, coup, last paid. Mch. 1, 1920
N. Y., Ottice, comer
West & Liberty Sts.
5
do
do
do
do
do
do
do
do
do
do
do
do
5'g. See text.
do
do
J. & D. Phlla., Leh.C.& Nav. Co.
1,
1,
1,
1,
1,
Dec.
JvQy 15,
Dec. 1,
1892
1902
1899
1908
1899
1899
1931
July
1,
1987
Nov.
Nov.
July
May
Dec. 15, 1897
N. Y., Cent. RR. of N. J. July 1, 1921
Various dates
do
Various
do
%'
J.
5
Is
Stocks— tanX
Dividend.
&
J.
the receiver's statement from
March 4
to Sept. 30,
(See
branch, Gordon to Milledgeville, 17 miles; Savannah & Atlantic RB., 18
miles; leases in perpetuity Augusta & Savannah Railroad, 53 miles;
Eatontou Branch Railroad, 22 miles; Southwestern Railroad and
teanches, 333 mUes leases till 1985 Mobile & Glrard Railroad and extension, 122 mUes; controls by ownership of stock— Savannah & West.
KB., 622 miles; operates Montgomery & Eufaula, 80 miles; Macon *
Northern, 105 miles; total operated directly Juno 30, '92, 1,666
miles. Auxiliary system (the earnings of which are reported separately) Includes, Western Railroad of Alabama, 138 miles; Georgia
Kallroad, 314 miles; Port Royal & Augusta, 112 miles Atlanta & West
Point, 87 mUes Port Royal & Western Carolina, 227 miles; WrightsTllle & Tennille RR., 35 miles Upson Co. RR., 16 miles; Gainesville
Jeff. & So. RR. 65 miles
embracing in all 994 miles. Grand total
30, 1892, 2,660 miles. Also Ocean 8S. Co., estimated as equivalent to
300 miles of railroad.
History, Receivership, &c.— This road was was opened in 184346. In 1886 the Richmond & |West Point Terminal Company became
the holder of a majority of the stock and tliereby controlled tlie comfiauy, until April, 1892", when the U. S. Circuit Court at Macon decided
hat the Terminal Company as a competing interest had no right to
vote the stock which it holds, and appointed receivers. The permanent receiver is H. M. Comer. See stock below. Default was made
onCout. of Ga. coupons due July 1, 1892, and on September 1 Savannah
& Western, Chattanooga Rome & Columbus and Savannah & Atlantic
coupons went unpaid. The coupons on the Cent, of Ga. collateral trust
iDonds, however, due November 1, were paid on demand.
In 1881 the Georgia RR. was leased for 99 years in the interest of
this company and the Louisville & Nashville, which operates it on Joint
account. Owns Jointly with the Georgia RR. Co. the Western RR. of
—
;
;
;
Expenses.
Central System (March 4 to Sept. 30, 1892.) Earnings.
$1,260,735
Central Railroad
120,040
470,533
138,968
97,521
651,454
22,415
Montgomery & Eufaula
Mobile
&
Girard
Savannah & Western
Savannah & Atlantic
Macon & Northern
Steamships
Bank
7,528
1,039,991
8,254
$3,968,576
Soutliwestern
$830,735
81.805
484,928
137,579
100,365
680,366
24.387
7,641
1,190,285
8,979
Augusta* Savannah
$3,395,937
$572,638
$116,065
;
;
Alabama, 138 miles.
Stock.— Of the stock $4,220,000
Net earnings. Central system
Loss on three auxiliary roads (355 miles)
— (V. 52 p. 462, 761, 862, 939 V. 53. p. 674, 713
;
;
V. 54,
p 32,33,78,
,
443,485, 525, 560, 844, 965; V. 55, p. 21, 22, 58, 145, 503, 543, 805.)
Central RR. of New Jersey.— (See 3faj>;—Operates 662 miles of
railroad, of which 156 miles are owned, the remainder being mostly proprietary lines or operated under 99'.l-year leases. In addition owns fer
ries and steamer Lues, 21 miles; in all 681 miles.
The principal leased liue is the Lehigh & Susquehanna with branches,
237 miles. (See Lelilgh Coal & Nav. Co.) The capital stock of the N. Y.
& Long Branch RR. and the New Jersey South'n RB. are owned by the
Cent, of New Jersey, and their bonds are Included in its debt. A majority of ihe Lehigh & Wilkesbarre Coal Co.'s stock and $6,116,000 of its
consolidated 7 per cent bonds are also held by Central of New Jersey
and receive interest if earned. The entire stock of the American Dock
& Improvement Co.
is
also
owned.
Organization, Etc.— Chartered In 1849. From May, 1883, to Jan.
held by the Richmond & West
Point Terminal, $220,000 in its own name and $4,000,000 In the name 1, 1887, leased to Philadelphia &Reading. Receivers were in possesof the Georgia Company, the entire capital stock of the latter being sion from Janua^ 1, 1887, till January, 1888, when the road went back
held by the terminal. A suit to cancel the agreement by which the to Its owners, "nie terms of reorganization, etc., were given in the
Terminal came into possession of this $4,000,000 stock at a price, it is Chronicle V. 44, p. 714, 716. Dividends were resumed August, 1889,
claimed, far exceeding its value was brought by the Receiver of the and increased to 1% quarterly in August, 1891. Concerning the comTerminal in September, 1892. See V. 55, p. 422.
pany's coal properties see Lehigh & Wilkesbarre in " Miscellaneous."
Dividends.— In 1882, 8 per cent; in 1883, 712; in 1884, 5ia; in 1885,
Lease.—In Feb., 1892, this property was leased to the Port Reading
4 ; in 1886, 6 from 1887 to December, 1890, at rate of 8 per cent per EB., in the interest of the Phila. <& Reading lor 999 years fi-om Jan. 1,
annum in June, 1891, S'a in 1892, January, 312 none since.
1892. In Aug., 1892, Chancellor McGill of New Jersey filed his decision
"
Floating Debt.— On Oct. 1, 1892, the floating debt in shape of against this lease and ordered the Central to refrain from permitting
loans from banks, trust companies and others was $5,232,000, to se- the Port Reading and the Philadelphia & Reading to use, control or
operate its road and franchises." At the time the lease was
cure which were pledged $8,001,000 or thereabouts of Central of Ga.
consol. 5s; $1,628,000 Savannah & Western consols; $3,007,000 Sav. & made there was an agi'cemeut for an alternate contract which, it is
Western stock, etc. In October a syndicate, headed by H. B. Hollins & claimed, will accomplish the same results as the lease contemplated.
'The Central lias resumed possession of its property as ordered. See
Co., of New York, loaned the company $3,889,206 until July 1, 1893
with this the loan due the 8peyer syndicate was paid off. (V. 55, p. decision in V. 55, p. 332, 374. The Reading appealed the case in
October, 1892— V. 55, p. 639. In October also the Attorney-General
543).
The items which should be funded were reported by the Receiver applied for a receiver for the Central. Sec V. 55, p. 680, 722.
Dividends.— In 1883, II3 per cent; in 1884, 412; In 1889, 3; In
in November, 1892, as follows (see statement V. 55, p. 805) Tripartite
bonds, due Jan. 1, 1893, $4,999,000; floating debt; $5,232,025; past- 1890, 6; in 1891, 6^; in 1892, Feb., 1%; May, 1%; Aug., 1%; Nov., 1%;
due coupons, $427,340; past-due interest on, certificates of iudebted
Price op Stock.- In 1883, 68i4®90; in 1884, 37ia®90; in 18S5. 31®
ness, $138,000; equipment notes, in which is included interest to 52; In 1886, 42i4®64; in 1887, 55i8®86i4; in 1888, 73ia®95H; in
maturity, $872,439; wharf notes, in which is Included interest to 1889. 92%®131; in 1890, 90®128>a; In 1891, 105J4®122%; in 1892, to
maturity, $287,935; additions and improvements recommended by N.ov 18 inclusive, llli3®145.
General Superintendent, $4,575,000; total, $10,531,739.
BONDS.—Of the general mort. of 1887 (see abstract of mort. V. 45, p.
Guaranties, Etc.— The following arc guaranteed Chatt. Rome & 402) $8,635,100 are reserved for other Issues. Interest on the general
Col. first mortgage 58, $2,240,000; Coliuubus & Rome and Columbus & mortgage coupon bonds is payable J. & J., on the registered bonds
Western 1st 6s, $1,000,000; Macon & Northern Ist 4J2S, $2,200,000 Q.—J. Trustee of consolidated and general mortgages is the Central
(Jointly with Riclunond & Danville); Mobile & Girard Ist mortgage, Trust Company of New York.
$1,000,000; Montgomery & Eufaula Ist 68, $1,500,000; Port Royal «&
General Finances,
The earning capacity of this company has
Augusta 2d mortgage Os, $112,000; Savannah & Western 1st cousol. 5s,
in 1888 and the alliance in
87,755,000; Western of Alabama 1st 4H)S, $1,543,000 (jointly with Increased rapidly since the reorganization
1892 with the Reading is expected to develop still further its business
Georgia Railroad & Banking Company). See also statement for each of
and the profits therefrom. In June, 1892, $1,500,000 additional genabove. There ar^ also rentals under leases, making aggregate chargtIssued to construct and equip the
in September, 1892, about $2,500,000 per annum, exclusive of interest eral mortgage 5 per cent bonds were
Navesink Railroad, making the total amount listed $36,460,000.
on fioating debt and car trusts.
Latest Earnings.— From Jan. 1 to Sept. 30, 1892 (9 months), gross,
Bonds.— Abstract of collateral trust mortgage of 1887 (Central Trust
against $10,416,476 In 1891; net, $4,435,384, against
Co. of N. Y. trustee), in V. 45, p. 242. The consolidated mortgage was $10,637,071,
$4,387,745.
authorized in 1890; see abstract, V. 51, p. 571. Consols for about
Annual Report— Kseal year ends Dec. 31. Annual meeting Is held
$8,000,000 are hypothecated to secure floating debt.
Earnings and Finances.— This road was long one of the most pros- on Friday next preceding second Monday in May. The report for 1891,
perous in the South. After passing into the Richmond Terminal system in fuU, was In V. 54, p. 681, 684. (See also editorial, V. 54, p. 667.)
ft ran up a considerable floating debt for new construction on the
1889.
1890.
1891.
Bavannan & Western, &c., and in 1892 receivers were appointed. Passenger and freight..
.. $5,899,119
$7,051,524
$7,257,533
Annual Report.— Fiscal year ends June 30. Report for 1891-92 in Anthracite coal
7,344,539
6,725,696
7,026,290
V. 55, p. 805, gave operations of the property under the receivership Mall, express, etc
253,736
349,343
369,864
from March 4 to September 30, 1892, as follows. (See statement further below.)
$14,653,687
Total gross earnings
$13,497,394 $14,126,563
The following shows earnings for a series of years
8,161,276
8,526,168
Operating expenses and taxes. 7,531,737
1887-88.
1888-89.
1889-90.
1890-91.
Year
1,477
1,667
1,743
MUeage
1,898
$6,127,519
$5,965,657 $5,965,287
Net earnings
$5,606,825 $5,844,465 $6,847,997 $7,065,823 Income from Investments
Gross earnings
$799,238
$837,293
$844,628
Net.inol.invest.&SS.eam. 2,869,417 2,553,638 2,400,536 2,263,687 Premium account
322,753
52,648
1,601,134 1,668,729 1,896,193 2,084,471
Fixed c harges
Total net Income.
6,764,896 $7,126,334
$7,024,796
stimated fixed charges for year 1892-93, $2,721,097.
is
;
;
;
;
;
:
:
Ac-
'
RAILROAD STOCKS AITD
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99
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ANNAPOLIS
MAP OF THE
Aenaltirg
^ASHIHOTON
RAILROAD
CENTRAL OF
NEW JERSEY
AND
CX)NNECTIONS.
—
E^YESTORS' SUPPLEMENT.
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'
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MAP OP THE
(j
f"
CENTRALIA & CHESTER
^
*.
° Greenville
East
vCalro
CharlestS
Piducah/
RAILROAD COMPANY
o
i
'
. .
NOYEHBER,
KATT.ROAD STOCKS
18i)8.J
Sabscrlbers will confer a Kreat favor
RAILROADS.
Per explanation of column headings,
on flret page of tables.
—Stock
of
40
185
....
Conaol. mort., gold, for $3,000,000, see remarks.o
Chartiers—\»t mortgage
Chatt. Home dS Ool.-^v.K S.WANNAH & Westeun.—
Chattanooga South'n— 1st M. ($1.5,000 p. m.) gold.c*
Chattanooga !7)ito»— Union Railway mortgages ,
Chat. Union oousol, mort. for $600,000, gold.. .0*
.
Union Depot bonds
Ches.ii A'«.?fl.— lstM.,$25,OOOp.m.,s|.,s.f.,notd'm.o*
Chesapeake it OAio— Pnrch. money funding, gold.c*
0*
1st mortgage, gold, scries "A"
Ist mortgage, of 1911, Peninsular Extens., gold.c"
c*
let mort., of 1922, on extension, gold
Ist oonsol. mortgage for $30,000,000, gold c'&r
Rich. & All Dlv. 1st oonsol. M., gold, (See rem.j.o'
.
gold
Do
do
do
Do 2d consolidated mortgage, gold
Craig Valley branch Lst mortgage, gold
Warm Spring.s Branch 1st mortgage, gold
.
0*
o*
c*
General mortgage (for $70,000,000, etc.) gold..c»
Eliza. Le.x. A Big Sandy Ist m..g.,guar. p. &i..c*
0*
Ches. & Ohio Equipment trust bonds, gold
Allegheny Car Trust, Series A, B and C
1881
1883
1889
Size, or
150
23
96
....
....
....
35
428
503
75
8
655
256
256
256
26
22
985
109
1887
1886
1886
1890
$1,000
10() &c.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
8
1891.
$1,897,771
2,739,579
(4i2)835,719 (6)1,117,092 (Oia) 1,455,431
Total disbursements
$6,092,781
$5,554,732 $5,735,055
Balance, surplus
$1,210,164 $1,390,279
$932,014
288, 404. SBT, 681, 684, 867, 887, 923; V. 55, p. 22, 178,
332, 373, 374, 680,722, 857.)
Central Vermont,—This company operates under lease the
following roads: Consolidated Rli. of Vermont— Windsor to Rouse's
Point, 158 miles; Essex Junction to Burlington, 8 miles; Swanton Junction to Province, 11 miles; Rutland RR.— Bellows Falls to Burlington,
120 miles; Addison RR. Leicester Junction to Ticonderoga, 15 miles;
Montreal A Vermont Junction— ProNnnce Line to St. Johns, 23 miles;
8. S. A Chambly RR.— S. S. &C. Junction to Waterloo, 43 miles; Ogdensbnrg & Lake Cham plain RR.— Rouse's Point to Ogdonsburg, 118 miles;
New London A Northern RR.—Brattleboro to New London, 121 miles;
Brattloboro A WhitehaU RR., 36 miles; Montpolicr A White River RR.
13 miles; Burlington A Lamoille RR., 34 miles; Missiasquol Valley RR.
—St. Albans to Richford, Vt., 28 miles; total, 731 miles.
Stock, Etc.— The Consolidated RR. of Vermont was organized July
1, 1884, embracing the former Vermont Central and Vermont A (Canada
properties, and was then leased to the Central Vermont. "The stock of
the Consolidated Vermont is $750,000 preferred 6 per cent and $300,000 common. The stock of the Central Vermont is $1,000,000. Comfany owns $1,612,500 stock of the Ogdeusburg A Lake CUamplain RR.
n Septciiitier, 1888, leased the Missis'quoi Valley Railroad at 4 per cent
on $500,000 stock, payable January 1 and July 1. The lease of the
Rutland Railroad to the Central Vermont was extended for 999 years
from December 31, 1890. On December 9, 1891, a consolidation of
Central Vermont with other roads and lease of New London Northern
was voted (V. 53, p. 880), and a blanket mortgage of $'20,000,000 4 per
cent bonds authorize*!, of wliich $15,000,000 were to take up prior
obligations as they matiu'e, including about $1,000,000 of floating debt.
Eaknings.- From July 1 to Dec. 31, 1891 (G months), gross earnings
were $2,601,636; net, $883,339; interest on bonds, .$178,876; rentals,
$435,450; other payments, $108,436; balance, surplus, $160,577. In
year cn.ling June 30, 1891, gross, $4,541,359; net, $1,309,40 1 charges,
etc..$l,218,107; other payments, $177,141; balance, $4,155 — (V. 47,
p. 459 V. 49, p. 653 V. 51, p. 680, T15 V. 53, p. 712, 880.)
Ceutralla Sc CIie»ter.—C5'fe J/ni).>— Chartered to build from Chester, 111., to Altamont, 111., with branch to a point opposite St. Genevieve.
Total distance, 140 miles, including siding. Road completed and in
operation between Sparta and Uoylton. 36 miles, and graded and
biidgecl from Hoylton to Centralia, 9 mihis, making 45 mil s in all. At
Centralia connection will he made with the Illinois Central. Steel rails
on hand and road to be completed and in operation to Centralia in
1892. Bonds autliorlzed, $12,000 i>er mile, covering roadbed, equipment and terminal facilities; stock Issued and subscribed for like
amount. The road is standard gauge and is being laid with 56-pound
— (V.54, p.
—
;
J.
J.
J.
A
A
&
N. Y., Cuyler, Morgan.
J.
J.
J.
400,000
150,000
875,000
2,287,000
2,033,729
2,000,000
142.000
23,207,000
5,000,000
1,000,000
1,000,000
650.000
400,000
17,619.0003,007.000
275,000
A
A
eg.
A
6
A
A
5 g.
A
6g.
6g. A. A
eg. A. A
6g. J. A
5 g. M A
2-4 g. J. A
4g- J. A
4g. J. A
A
5g.
5g. M. A
4i2g. M A
(6) 3 g. M A
6
6
g.
J.
J.
J.
J.
K.
.1.
.1.
6
5
g-
A7'«-A»— Last
Dividend.
July
1.
1921
Boston, Am. L. A Tr. Co.l June 30. 1913
N. Y., F'arm. L. A Tr. Oo. July 1, 1919
6,567,000
7,345,000
Oct., 1890, last paid.
5g. Q.^.
7 8. .1. & J. N.Y.,ia W.23 A Cha'st'n
1,467,000
2,000,000
7
2,082,000
eg. A A 0.
2,578,000 See text.
N.Y.,C.Tr. Co., 54 WaU.
2,000,000
J. A J.
do
7
do
500,000
7
A. A 0.
do
do
500,000
»J gJ. A J.
do
do
600,000
7
A. A 0. Philadelphia, Fenn. RR.
23.5.000
1890.
$1,819,815
2,798,148
1889.
$1,890,381
2,828,632
6«8g.
1,440,000
200,000
1,600
1887
1878
1,000
1,000
1878
1881
1,000
1882 500 &0.
1,000
1889
1890
1,000
1890
1,000
1890
1,000
1.000
1890
1890
1,000
1892
1,000
1872
1,000
Var.
$300,000
7,000,000
(1)
100
1869 500 &o.
1872
1,000
1883
1,000
1871
1,000
1889
'85-' 87
1888
Bon</*— Prlnd
pal.When Due.
Amount
Rate per When Where Payable, and by
Value. Outstanding
Cent.
Payable
WTiom.
Par
100
....
121
121
101
191
2d mortgage
Disbursements—
Rentalspaid
Interest on debt
Dividends
Date
of
Road. Bonds
—
9S
glvluK Immediate notice of any error discovered In these Tables.
Miles
&o., see notes
Central of South Carolina— iRt mortgage, gold
Central Fermon*— Consolidated RK. of Vt. 1st M.
Oentralia <* Chester— let M. for $1,680,000, gold.c*
Char. O.cC OAic— Stock *'ir),000 per mile
Old Ist M., gold, (iii2,'),000 p. ni.) to be retired ..0*
Charleston it Aipii/dki/i— Gen. M. ()jil,500,000),g. .0*
iBt and 2d pref. inc., $1,000,000 t^acb. uon-cnm..
Charleston Sumter <£Aoc(/i.— l8tM.,$I5,OOOp.m.,g.o
Charlotte Columbia d Augusta
Ist mortgage consolidated
bjr
AND BONDS.
July 1, a947
Jan. 1, 1936
Irredeemable.
Apr. 2, 1910
June
Jan.
Oct
July
Oct.
1,
1,
1,
1,
1,
1889
1895
1910
1933
1901
D. Juno,'91,ooup.la8tpald Deo. 1, 1919
J. July ,'91, coup, last paid J'y,'05-Jan.'O7
do
do
July 1, 1918
J.
do
do
In default.
N.Y.,Drexel,Morg.A 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
do
do
J.
A.
J.
0.
0.
D.
N.
J.
J.
J.
J.
8.
8.
S.
Various
Various
1920
Aug. 15, 1937
July X, 1898
July 1, 1908
Jan. 1, 1911
June 1, 1922
May
1,
1939
Jan. 1, 1989
Jan. 1, 1989
Jan. 1, 1989
July
Mch.
Moh.
Mar.
1,
1,
1,
1,
1940
1941
1992
1902
Various.
ers' certlflcat s for $200,000 authorized and mostly used to pay for the
extension of 18 miles to Gibson, completed Sejit., 1892. Reorganization
In progress.
Mortgage trustee is Atlantic Trust Co. of New York.
Stock a\ithorized $12,000 per mile; outstanding, $1,380,000; par, $100.
From January 1 to Oct. 31, 1892 (10 months), gross earnings were
In year 1891 gross earnings were
$120,743, agaln8t$l05,852 in 1891
$137,664; net over operating o^penses,$5,688. (V. 54, p. 158, 403, 525.)
Charlotte Colombia
Auffnsta.—Owns from Charlotte, N. Cto Augusta, Qa., 191 miles; leases Atlantic Tennessee A Ohio Rail,
road, Charlotte to StatesviUe, 44 miles Cheraw A Chester, 29 miles,
and Chester A Lenoir, 109 miles total operated (including 10 miles ot
Western North Carolina), 373 miles. Controlled by Richmond A Danville since 1878, and in May, 1886, leased to that company for net
earnings. In case of any deficiency in net earnings to pay nxeu charge*
the lessee may advance the funds, such advances to be secured toThe*
it by a niortg.age lien inferior only to that of existing mortgages.
$500,000 consols outstanding are guaranteed as to principal and inter-est by indorsement by the Richmond & Danville $2,500,000 of thW
issue is reserved to retire prior issues at maturity. Of the stock $1,.
&
;
;
;
300,000 was deposited by Richmond A West Point Tcnninal under its
collateraltmstdeedof 1889. Dividends In 1888, 4 per cent; in 1889,2.
In June, 1892, the Riclimond A Danville and the Richmond Terminal
went into receivers' hands, but the Interest on the O. C. A A.'s first
mortgage was paid as usual July 1. See those companies.
Eakninos.- In year ending June 30, 1892, gross earnings wero$865,306; net, $234,686; interest, $305,000; rentals, Ao., $63,438; deficit, $33,752.
In 1890-91, gross, $992,748; net. $306,003; surplus)
above charges, $36,912. (V. 53, p. 843; V. 55, p. T64.)
j
Chartlers.— Owns from Mansfield, Pa., to Washington, Pa., 23 miles,;
Sold under foreclosure and reorganized in 1867. Leased for 91) yearsfrom January 1, 1872, to the Pittsburg Cincinnati A St. Louis (now;
Pittsburg Cincinnati CUcago A St. Louis) the rental is net earnings.
In 1891 gross $273,091; net, $125,155; surplus over fixed charges $73,578; dividends (7)s per cent), $48,397; balance, .$25,182. Capital
stock, $645,300 (par $oO), of whicli the Pennsylvania Railroad owns
$333,850. Dividends since 1886 .as follows: In"l887, 1888 and 1889, 5
per cent; in 1890, 5^; in 1891, 7^; in 1892, April, 4; October, 4.
t
;
Chattanooga Rome A: Columbus.—8EE Savannah A Western,
Chattanooga Soutliern.—Completed in June, 1891, from Chat-
-
tanooga, Teun., via. Alpine, Ga., to Gadsden, Ala., 86 miles, with.
branches, 10 miles. In February, 1892, a receiver was appointed, and
In March a reorganization plan was adoi)t<!d. V. 54, p. 485. Reeelver'a
certificates for $2.50,000 were authorized in May, 1892. Foreolosuro
sale was ordere<l in 1892, date not fixed. R<'Ceiver is J. W. Bourke.
Stock authorized ($15,000 per mile), $2,000,000; outstandliur, $1,440,000. (V. 52, p. 973; V. 54, p. 287, 485, 886; V. 55, p. 722.)
Chattanooga Union,—Owns 43 miles of licit railroad in Chattanooga, Tonn., conneetingtlieteu lines entering tliatcit.v. lu September,
1891,$510,000of the $1,000,000 capital stock was purchased by the
Alabama Great Southern, and so is held in the interest of tlie Ea.st
Tennessee Virginia A (ieorgia. II. S. ('Iiamberlain appointed receiver
steel rails.
in Feb., 1892. Majority coiisols deposited with Wm. II. Blackford, of
CliarleNton Cincinnati Sc Chicago.— Projected from Sumter, Baltimore. Md., ami largo
maijority of underlying issues with H. W,
8. C, to Richardson, Ky., 510 miles, of wTiich 175 miles between Camden, S. C, and Marion, N. C, is now in oi>eratlon. forming a througli Bai-tol, of Philadelphia (Drcxel Building), i)ending foreclosm-e. I'rom
Jan. 1 to Sept. 30, 1891 (9 mos.), gross earnings were $74,860. against
line, in connection with the South Carolina RR.. 290 mile's in length,
between Cliarleston, S. C, and Rutherfordton, N. C. Road is al.sci in $86,570 in 1890; net, $2'2,099, against $33,789. (V. 53, p. 407.)
Chei»ai>eake
Ohio,— <5peJf«p.;— Owns Old Point Comfort, Va.,
operation in Tennessee from Johnson City to Unaka Springs, 20 miles.
In Feliniary, l»yi, receivers were appointed. See V. 54, p. 485. In via Newport News aud Charlottes\-llle, to Big Sandy River, West VirJune, 1892, the bondholders obtained control of the entire property and ginia, 511 miles; Richmond to Clifton Forge, Va., 230 miles; also holda
were proceeding witli tlic reorganization (V. 54, p. 799; V. 55, j). 21.) the ownership (through all the bonds and the bulk of the stock) of the
A new reorganization plan has licen prepared. (SeodetailsV.55,p. 402.) lino from Ashland, Ky., to Covington and the bridge between CovingEarni.nos.— From January 1 to S<'pt. 30, 1892 (9 months), gi-oss earn- ton and Cincinnati aud has absorbed the Ellzabethtowu Lexington
ings were $102,(;(iU, agaiu<t $113,365 in 1891; dencit under operating ABigSand}-, the Ohio A Big Sandy RR. and the Kentucky A South Atlantic RR., 203 miles (of which 21 miles leased and 20 narrow gauge.);
expenses, $22,S79, against .$25,645.
The Receiver's report from March 15, 1891, to March 31, 1892, together with various branches, the whole on July 1, 1892, aggreshowed gross earnings of $170,245, against $150,871 in year 1890-91; gating 1,183 miles of ownership and 115 miles of leasehold and trackoperating expenses, $185,342, against $183,216; deticlt, .$15,090, age riglits for reaching Wivshington, etc.
against $33,028 for 1890-91. The General Manager states that the
HisToiiir,
Tlie former Chesapeake A Ohio was sold in foreentire road is now safe and can be operated with economy, exceiiting closure April 2, 1878, and this company organized. In 1883, under
the trestles aud bridges, of which there are nearly si.x miles, wliicli the direction ot Drexol, Morgan &. Co., the company was reorrequire an exiienditure of from $25,000 to $30,000. (V. 54, p. 968. ganized without foreclosure, and the road extended to Cincinnati. The
General olliccs of tlie company, 45 Broiulway, N. Y. (V. 53, p. 156, consolidaticin with the Richmond A Allegheny was consummated in
186; V. 54, p. 287, 483, 683, 799, 968; V. 55, p. 21, 145, 462.)
January, 1890. Tlie Elizabeth. l>exlngtoii A Big Sandv and other roads
CharleHton Sc Savannah,—Owns from Savannah, Ga., to Charles were iir.aetic.ally absorlied in 1892, all their securities having been,
ton Juuction, 8. C, 104 miles (except7miles trackage), and branch to plueed under the C. A O. general mortgage excepting $3,007,000 E. L.
Youngs, leased, (> miles; operates— Ashley River liranches, Ac, 8 miles; A li. S. bonds assumed by C. A O. at 5 per cent.
Until January 1, 1894, the voting power and control of the C. & O.
Charlestim Junction to Charleston, 7 miles total operated, 125 miles.
Foreclosed June 7, 1880, and present company organized. Stock remains with three trustees, viz.: J. Pierpont Morgan, John Crosby
§500.000. Fiscal year changed to end Juno 30. From Jan. 1 to Sept. Brown and George Bliss. The road is therefore controlled in same Interest as the Cleveland Cmoinnati Chicago A St. Louis.
1, 1892 (9 montlis), gross earnings were $153,484, agaiast $553,235
1111891. In calendar year 1891. gross earnings were $719. :t77; net,
CAPrrAi. .STOCK.—The stock is $59,708,000 common, $871,000 Ist
$•202,496; aurpiua over charges, $62,108, out of which was i)aid 6 per preferred 5 per cent and $861,400 2d preferred 5 per cent.
Upon the
cent on tlrst preferred incomes. See V. 54, p. 405. Paid II3 per conversion of the prefeired stocks, as mentioned below, the common
cent on flrst ncoraes In 1889, 2 per cent in 1890, 6 in 1891, 6 in 1892 stock will be $60,425,600. All the converted shares are deposited in
for year 1891. H. B. I'lant, President, New York. (V. 54, p. 405.)
trust and held alive to preclude any advantajje to shares not converting.
CharleHton Slimier Sc Nortliern,- Operates fnmi Pregnalls,
Price of Stock.— Common stock (since reorganization In 1888): In
8. C, to Gibson Station, N. C, on the Seaboard Air Line, 132 miles, and
1889, 15>e»28; in 1890,1413327^8; In 1891, 14Ha28; in 1892, tobranches, 18 miles. Receiver appointed January, 1892, and receiv Nov. 18 Inoluaive, 21383128.
;
;
;
'
&
;
Ac—
;
INVESTORS' SUPPLEMENT.
fTOL.
LV.
.
.
NOYEHBEB,
KAILKOAD STOCKS AND BONDS
1898.J
97
Subscriber* will confer a great favor by i^trlnK Immediate notice of anjr error dlacovered In theae Table*.
BAILBOADS.
For explanation of column beadinKR,
on first page of tables.
&o.. Bee notes
Date
Size, or
of
Miles
of
Par
Rood. Bonds
Ohetapeake <t Ohio.— (Concluded.}—
Eqinpiueut not«s
Elevator Co. Ist M.,gold,p. Al.giiar. by C.&O.o*
2(1 mortgage, for $500,000, income, non-cum.o*
New River Bridge Bonds, gold
Buckingham Ur. RK. iHt M.,tacome, non-cum...
Ohes. Ohio t£ Southioesterti.
Paduc. &Ellz.,lBtM.,B. f., dr'n at 100($300,000 881
o*
C. O. & 8. W. l8t mort., gold ($19,000 per mile).
2d mortgage ($11,000 per mile)
o*
Equipment trust bonds, not drawn
o*
Equi))meut trust notes July 1, 1892
Ohicaoo f£ Alton — Common stock
Preferred stock (7 per cent yearly not cumulative)
Ist mortgage
General mortgage, sterling, for £900,000
S.f.bonds (K.C.St. L.&CM8tM.collat.),gold,not dr'n
Pref. stoik Kansas City St. L. & C, guaranteed..
& Chic, 7 p.c. stock, perpet.,gi»ir. by C.&A.
Louis Jacksonville & Chic, 1st M., assimicd.
Ist mortgage, endorsed by Chicago & Alton
2d mortgage, endorsed by Chicago & Alton
2d mortgage, assumed (convertible)
Louisiana A Mo., guaranteed preferred stock
1st mort. ($139,(JO0 assimied by Chic. & Alton)
2d mort. (Interest guaranteed Chicago & Alton)
Hiss. River Bridge, stock (7 per ct. guar. (C.<t A).
Ist mort., gold, assumed, sink, fund, dr'n at 100.
JoUet
8t.
Value.
1888
1888
1888
1892
$1,000
1,000
1,000
1877
1881
1881
Amount
Outstanding
INTEREST OK DIVIDENDS.
When AVbere Payable, and by
Rate per
Cent.
6
1,000
1,000
1,000
1,000
500,,000
6,176 ,000
3,865 ,000
6<Sc8
100
100
186
352
352
$755,634
820.000
315,000
170,000
58,500
14,115 000
600
1862
1873
1878
100
100
100
1870
1877
1,000
1,000
1877
1,000
Bonds.—The consolidated mortgage, due In 1939, is for $30,000,000
(trustee, Central Trust Co.), and sultlcient bonds are reserved to
provide for prior liens. This mortgage is also secured by deposit in
trust of tlie $1 1,000,000 bonds and two-thirds of the stock of the MaysTllleA Big Sandy RR., Ashland to Covington, Ky., and the Bridge to
Otnciunati, all owned by the Ches. & O. RR. (See abstract, V. 49, p. 147.)
Of the flrst consolidated mortgage on the Richmond & Allegheny division, $5,000,000 carry 2 per cent interest till January, 1894, and
thereafter 4 per cent. (See abstracts of mortgages, V. 51, p. 144.)
There are also Manchester City 8s, $60,200, and 5s, $36,000.
The general mortgage of 189'_' (Central Trust Co. and H. T. Wickham
trustees) is for $70,000,000, but additional amounts at $25,000 per mile
may be Issued for double-tracking. Of the .$70,000,000 as above,
^2,691,000 bonds were reserved to provide for the $30,000,000 consols of 1889, Issued or to be issued, etc. The balance unissued may be
sold for new acquisitions, rolling stock, etc., but not more than
$2,000,000 in any one year therefor. The mortgage covers the 985
miles of road owned by the company as indicated ahove, the securities
of the Big Sandy roads which it holds, and all additional mileage
acquired with the proceeds of its bonds. When the preferred stoiiks
shall have bi-en entirely retired there will be $18,988,000 generals i^s
outstanding, out of which $4,000,000 are being used for improvements In
1892-93. See fuU abstract of mortgage In V. 54, p. 644: also V. 54. p.
1.
A A.
4 A
& A.
F.
P.
F.
6
per an.
per an.
7
N. Y., 23 Broad
do
do
do
;
operated in harmony with the Vahdcrbllt lines.
As to the earnings and expenses for the year 1892-93 the managers
In their report for the past year (V. 55, p. 334) give in full their
reasons for believing that a substantial surplus will remain after payment of all charges. In brief tliose reasons are as follows In the year
1891-92 net earm'ugs were$2,275,0OO to this siun should be added over
$500,000 for extraordinary ex nenses included iu the year's operating expenses, over and al)ove liberal allowance for maiutenauco, etc., and
S250,000,a8 a minimum for tlie net earniugs of the Big Saudy, etc., roads.
This would make a total of over $3,000,000 not earnings for the year just
doeed, against an interest and rental charge for the ensuing year on
the entire syste u of .$2,880,066. There is now being expended for
double track, branches, equipment, etc., about $-1,000,000, and all the
Interest mmn the bouds sold thi^refor (about $200,000 per annum) has
been included in the fixed charges for the ensuing voar, while no allow,
ance has been made in the above statement for the increase in net
earnings which should result.
Earnings.— From July 1,1892, to Sept. 30, 1892 (3 months), gross
$2,819,320, against $2,688,439 In 1891 net, $959,132, against $757,154 all fixed charges for three months, $7(X>,()00 balance, surplus. In
1892, $259,132. See V. 55, p. 703, 722.
Anndal Repobt. Fiscal year ends June 30. Annual meeting Is
held at Richmond on the Tuesday preceding the last Tuesday in
October.
Report for 1891-92 was in V. 55, p. 318, 331, 334,
and showed the following, there being included In operating expenses of each year large amounts paid for new equipment and other
additions, over $5(K),(KX) having been so applied in 1891-92.
1889-90.
1890-91.
1891-92.
MUesoperated
923
1,027
1,078
Passenger earnings
$1,471,436
$1,765,299
$1,913,187
Freight
5,384,'255
5,963,516
6,694,953
Szprees, mall and mlscel.
306,258
398,296
396,460
:
;
;
;
:
—
1,
1,
1,
1,
Seml-an
Q.— M.
5
Aug. 1, 1911
Aug. 1, 1911
June, 1901
N.y.,Cuyler,Morg'n
Deo.
A
A
A
s«- M.
6 g.
J. Lond'n,J.8.MorganiSiCo.
N. N. Y., Guy ler.Morg.&Co.
do
do
per an.
per an.
A.
7
N. Y., U.S. Trust Co.
O. N. Y.,Cuyler,Morg.&Co.
do
do
O.
A
A
A
A
A
A
A
A
&
7
7
7
per an.
P.
7
M.
7
per an. J.
6g. A.
189X
189Z
1893
July
1903
May
1908
Nov.
189«
Oct., 1892
Apr. 1, 1894
Apr. 1, 1894
July 1, 1898
July 1, 1898
Aug. 1, 189Z
Aug. 1, 1900
Nov. 1, 1900
July, 1892
Oct. 1, 191S
1,
1,
1,
1,
1,
1,
jACoAChicTr.Ofllce
Deo.
J N. Y.,Cuylcr,Miirg.iC6. Jan.
Q.-M:.
J.
J.
J.
J.
A.
A.
N.
do
do
do
do
do
19M
1988
189S
1925
Feb. X, 1897
St.
do
do
do
do
do
do
do
do
J. Chic, Treasurer's Office
O. N.Y.,Cuyler,Morg.& Co.
Ry., Hopkinsville via Princeton to EvansvlUe, Ky., branches, etc., 191
miles. ; so too the Hodgensville & EUzabethtown and the Troy Tip tonvillo railroads, 16 miles in all, most of whose securities are owned by
C. O. A S. W.
In August, 1892, a controlling interest in the stock of the Owen sbor*
Falls of Rouvh & <Jreen RR. was purohas'd by parties connected with
the Ches. O. <& S. W. The road extends from Owensboro southeast to
Fordsville, 26 miles, and will be extended from Fordsvllle to ajuuetloa
with the Ches. O. A 8. W.; 5 per cent bonds, at $'20,000 per mile, to b«
issued thereon. It will be operated as an independent property.
SuccEssoKto the Memphis Paducah & Northern, which was sold la
foreclosure in 1881. and merged with the Paducah & Elizabetlitown.
Leased iu February, 1886, to the Newiwrt News A Mis-slssippi Valley
Co. for tlfty yeara, rental to be interest on bonds if earned, and not to
exceed 6 per cent, on stock. In 1891 $1,297,500 (60 per cent) of
the stock of the Ohio Valley Railway was purchased, the Ches. Ohio
A Southw. guarauteeing its $2,102,000 bonds. See V. 52, p. .321, 718.
STOCK, Etc.—Common, $6,030,600,and pref. $3,860,000 ($164,000 additional unissued), of which the Newport News & Mississippi Valley Co.
July 1, 1892, owned $5,608,700 common and $3,51 1,600 pref. Un paid
coupons wore $591,910 July 1, 1892; due Newp't News Co.,$1.399, 701.
Annual Report.— Fiscal year changed to end June 30. Report for
year 1891-92 iu V. 55, p. 855.
1890-91
$2,311,280
$739,428
642; V. 55, p. 335.
The new bonds are given In exchange tor preferred stocks on
terms following: First pref. to get two-thirds of Its par value in new
bonds and one-third in new common stock second prefl to get one- third
«f its par value in new bonds and two-thirds In new eommon stock.
The Elizabeth. Lexington & Big Sandy llrst mortgage Ijonds, interest
on which has been reduced to 5 per cent, have beeii endorsed with the
C. ife O. guaranty of principal and interest, and general mortgage bouds
have been set aside to retire them at maturity. Only $17,000 of the
£. L. & B. S. unassented 6s remain out.
Operations, Financks, Ac— Since the reorganization In 1888, when
the control of the company was placed for five years in the hands of
tmstees, the property has been gi'catly enlarged and improved. It Is
Vsnona.
Oct.
Oct.
M. A N. N.Y., Drexel,Morg.4Co. Hay
Richmond.
Jan
Jan.
t'-
3,479, 500 18
2,383,,0O0
4,379,,850
2,075,,000
1,750,,000
l,.50O,,000
2,365,,000
564,,000
188,,000
42,,000
329,,100
1,785,,000
300,,000.
300,,000 7
600,,000
1,000
1,000
1,000
1,000
WTiom.
Varloas N.T., DrezeI,Morg.(fcCo.
A. A O.
do
do
Oct.
685 ,000
265, 528
1,000
1,000
1,000
1864
1864
1868
1868
220
322
162
1G2
38
150
37
37
150
101
101
101
Payable
Bmult—Prtiult
pal,^Vben Doa.
Block*— iMtH
Dividend.
Gross earnings
Net earnings
Net, including miscellaneous income
Rentals, taxes, interest,
1891-92.
$2,297,825
$823,15
$868,684
887,803
iSio
Balance
df. $18,619
569, 718; V. 53, p. 156; V. 55, p. 855.)
Chicago ic Alton.— Line of Road—Joliet to East St. Lonl*
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to Wasfeington and Lacon, 80 miles Roodhouse to Louisiana, 38 miles Upper
Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago t»
JoUet, 37 miles Bloomington to Godfrey, 150 miles Louisiana to Cedar
City, 101 miles; Kansas City to Mexico, 162 miles. Total leased, 459
miles. Total operated, January 1, 1892, 849 miles.
History.—Chartered as the Chicago
Mississippi February 37,
1847; reorganized in 1857 as Chicago Altou & St. Louis, and agala
under present title in October, 1862; after foreclosure. In 18^4 m>»-
— (V. 50, p.
518
;
V. 52, p.
;
;
;
;
cSt
solidated with the St. Louis Jacksonville A Chisago RR.
STOCK. Stockholders of record Oct. 1, 1892, have the privilege of
subscribing for ^2, 200,000 new stock at 114, taking 12i« shares for
every 100, payment to be made prior to Deo. 16, 189*2. The new stock
will retire $2,400,000 of maturing 7 per cent bonds due Jan. 1, 1 893.
The Chicago A Alton preferred stock h.as prior right to a non-cum oli^
tive dividend not exceeding 7 per cent from net earnings and (after
payment of 7 on common) also shares with common In any surplus.
DrviDKNDS since 1879— In 1880, preferred 7, common 6>a; In 1881a
both 8 In 1882, both 8 ; In 1883, both 8 ; In 1884, both 10 ; from ISSS
to Deo., 1892, both inclusive, both 8 (2 per cent quarterly.)
—
;
PRICE or tJOMMON Stock.- In 1885, 1289140; In 1886, 13S3146 : in
1887,1303155; in 1888, 132ai40is; in 1889, 1259140; In 1890, 129
9135; in 1891, I239I4OI4; In 1892, to Nov. 18, Inclusive, 1399154.
Leased Lines.—The Kansas City St. Louis A Chicago is leased In perpetuity from Nov. 1, 1877, at rental of 35 per cent of gi-o.ss eamlngik
Its bonds are held by the U. S. Trust Co. as security lor the Chicago
Alton bonds of 1878, which have a sinking fund of $60.(KX» per annum.
stock, $271,700, of which $157,600 is owned by the C. A A.
Joliet A Chicago is leased from January 1, 18(>4, "for the term of
Its charter, and forms part of the main line.
Rental, 7 per cent on
stock. The Louisiuna<& Missouri River RR. Is leased for l.CKK) yean.
Rental, 35 per cent of gross earnings, after taxes,
have been
deducted from them, but interest guaranteed on second mortgage bonds
and $329,100 preferred stock other pref. stock is $1,010,000 and common $2,272,700 rental in 1891, $16C,138, against $139,4'23 In 189a
The Mississippi River Bridge Is leased in perpetuity fnim Deo. 3, 1877*
Total earnings
$7,161,949
$8,127,111
$9,004,600
Oper. expenses and taxes.
5,611,U68
6,083,518
6,731,732 at 7 p. 0. on $300,000 stock (all owned by C. & A.) and 6 p. c. on bonds.
General Finances.- The Chicago A Alton RoimI has been parNeteamlngs
$1,549,981
$2,043,593
$2,27'2,868 tlcularlv strong in having a large local business between ChiciM;o and
Other Income
19,969
18,520
Its leased lines are a.s completely controlled as if owned
St. Louis.
and the system Is compact and very conservatively managed, no exTotal net Income
$1,569,950
$2,062,113
$2,272,868 tensions having been built or new lines acquired of recent years. Bine*
Interest on bonds
$1,663,641
$1,745,129
$1,798,095 1883 there has been practically no increase in the capital stock. In,
Kentals of tracks
44,401
11,609
10,916 this period $2,153,870 income has been expended in the purchase oC
Loss on grain elevator
16,419
8,165 additimial real estate, rolling stock, etc., and the bonded debt has beeoa
Discount and exch'ge,4o.
1,628
69,145
64,372 reduced by the purchase and cancellation of $735,000 of bunds.
Annual Report. Fiscal year ends December 31. The annual mee^
Total
$1,709,670
$1,842,302
$1,881,548 inglsheld In Chicago the first Monday in April. Annual report for
Balance
Def.$139,720 Sur..$219,810 8ur.$391,320 1891 was In V. 54, p. 363.—See also editorial on p. 348.
-(V. 53. p.47i». 482, 502, 604, 753; V. 54, p. 119,158,242.366,441,
1890.
1888.
1889.
1891.
626.597,642,043,044,904,1009; V. 55, p. 58, 3 18, 331, S34, 722.)
Totalgrosseamlngs.$7,511,465 $7,616,617 $7,065,754 $7,590,881
Chenapeake Ohio A Sonthivestrrn.— Louisville, Ky., to Mem- Neteamlngs
$2,843,380 $2,944,881 $2,683,754 $3,132,13%
phis. Tenn., 392 miles, and branch EUzabethtown to Ceclllan Junction, Other receipts
273,252
273,875
273,497
272,59T
6 miles. 39s miles; of which is leased from Louisville & Nashville their
Ceclll an branch, 46 miles. Also operates separately the Ohio Valley
Total receipts
$3,116,632 $3,218,766 $2,967,251 $3,404,e«a
<k
Common
The
Ac
;
;
—
38
INVESTORS'
SUPPLEMENT.
fVoL. LV.
c)
c
)
November.
urtll
;
,
KAILROAD STOCKS AND BONDS.
189:J.]
Subscriber*
;
99
conCer a sroat tavor by Klvlng; Immediate notice or any error discovered In these Tables.
INTEREST OR DIVIDENDS.
RAILRO.VD8.
Bonrfji— Prlnol.
Miles Date Size, or
Amount Rate per Wlien Where Payablo, and by pal. When Due
For.explanation of coluiuu hoadinge, &c., seo nates
of
of
Par
Sloekn—Laat
ou Itrst page of tablets.
Road. Bonds Value. Outataudlng
Payable
Cent.
Wbom.
Dividend.
I
Vlncagu Hurl, it Norl/ieni—letM.., a.f.,reil. at 103.
2(1 M. ($10,000 p. III.) red. after May 31, 1898. .0
Teu-year debentures
e
363
303
Equip. M.,re(l. at 105; called for puym't Feb.'93.c*
1886 $500&o. $8,610,000
5
1888
1,000
2,215,000
6
93."),000
1886
1,000
6
1888
1,000
940,000
7
100 176,394,905 See text
1873
1,000
18,000,000
7
1871
1,000
547,500
7
1875
1,000
330,000
5
2.316.O00
5
1876
1,000
1863 50 &c.
3,902,900
7
•69-'70 500 &o.
66,000
8
)1879 1,000
2,892,000
5
1,000
8,366,000
4
J 1879
1881
1,000
4,300,000
4
1881
1,000
7,968.000
4
1883
1,000
9,000,000
5
1887 l.OOO&o 27,565,000
4
Chicago Hurlinglon <t (iumey—Stock
Chicago Burl. & Quincy oousol. mortgage
o*
820
Plain liouds
c*
Sinking fund bonds, (Ist M. as coll.) not dr'n.o*
33
Sink, fund bonds (l»t M. as coll.) not dr'u.c*4r
286
Burl. & Mo. Kiv. (In Iowa) lstM.li,'r.8.t.,notdr'n.c*
278
Ist moitgage convertible bonds
o*
40
Ch. Burl. & Q. Iowa Div., s. f. 58, drawn at 105.
787
lowaDlv., 8. f. mortgagees, drawn at 100. cAr J
Sink, fund 48 (for B. & 8. W.) drawn at 100. c&r'
Denverexten. (collat.tr.) b'd8,s.f. dr'uat lOO.c' 415
Ch. Burl. & Q. Debentures for Uan.&St. Jostk.c*
Nebraska ext.,*20,000 p.m. (e. f.,notdr'u).c*4r 1,432
Convertible deljentures (See remarks)
1890-2 100 &0.
B'rl.&Mo.RR.iuNeb.cou.M.l.gr.,3.f.dr'natl00..
600
501 (1878 600 &c.
Do
do
do
exempt (See remarks)
&e.
\
U878
Burl. & Mo. RR.inNeb.,8.f. for At.&Neb.RU.st'k.
1880
1,000
Qulncy Alton & St. L. (leased) l»t mortgage....
46 1876
1,000
Repub.Val. R., 1st M.g., (dr. at 100) s.f., $14,000.. .0
90 1879 600 &c.
Ottawa OsnCRO <!« Foi River, 1st mortgage
c*
70 1870
1,000
Omaha & S. W., ist moi-tgage, giuiranteed
c*
49 1871
1,000
Nebraska Railway cousolidateil mort, guar
132 1877
o
1,000
.
Atoli.ikNeb.,l8tM.,At.toLlii..N'eb.,andl>r.,giiar.o*
2d moii;. on Atoli. i Neli. RR. (Ist M. ou bridge)
Linc'n&N.W'.RR.lstM. guar., s.f. 1 p.c, not dr'u..
Vhic. it East. Illinois— i;om. stock ($15,000 p. mile).
Preferred stock, G per cent ($10,000 per mile)
Istmort. (s. f. $20,000, no drawings)
o*
DanviUe Grape Creek RR.— Ist M., assumed . c*
&
Rentals paid
Construe., equip., &o.
Interest on debt
Dividends
Miscellaneous
.
1888
$665,455
531,542
825,658
$669,478
159,810
823,495
1,407,608
106,924
1,407,712
38,059
1889.
148
148
73
107
7
1878 100 &c.
1887
1880
ioo
100
1877 100 &c.
1.000
1880
1891.
1890.
$674,722
200,220
810,387
$652,411
184,271
816,161
1,407,560
189,227
1,407,560
88,742
Total dl8bursem't8$3,537,187 $3,098,554 $3,249,630 $3,181,631
df .$420,555 sur.$120,202 def .$292,379 8ur.$223,067
(V. 53, p. 156; V. 54, p. 348, 363, 720.)
Chicago Burlington ic Northern.— Owns from Oregon, 111.
to St. Paul, Minn., 332 miles; Fulton to Savanna, 111., 17miles; branches
14 miles; total, 363 miles. Completed Aug., 1886. In 1890 $9,068,500
of the $9,384,000 stock (par, $100), was purcha.«ed at 40 by Cliicago
Burlington & Quiucy. (See V. 50, p. 390.) The Chicago Burlington &
Quiney and Chicago & Iowa give a traltic guarantee for twenty j-'ears of
one-half of their net earnings derived from business to and from the
Chicago Burlington & Northern (to be not less than $100,000 per year)
for the retiremcut of Chicago Burlington & Northeru drsts at 105; and
after March 31, 1896, the whole issue may be retired at 105.
The equipment bouds have been called for payment at 105 on February 1, 1893, at which time interest will cease. Holders are given
the privilege of retaining their bonds if they so elect upon agreeing to
5 per cent interest and the waiving of the sinking fund provision.
Agreement to this ett'ect may be made at any time before Jan. 1. 1893.
Eakm.ngs.— From January 1 to Sept. 30, 1892 (9 months), gi'oss, *1,576,392, agst. $1,544,543 in 1891 net, $533,280, agst. .$603,671.
In 1891 gross earnings were $2,224,203; not, $923,683; rentals
$111,087; interest,$700,03U; taxes. $83,969; balance, surplus, $28,569
(u 1890, gross, $2,115,442; net, $876,835. (V. 52, p. 641; V 53, p. 215.)
Balance
-
;
Chicago Burlington
Ac
Hnlney.—(See Map.) -Line of Road.-
Maln line from Chicago, 111., via Burlington. Iowa, and Paciflc Junction,
to Denver, 1,028 miles. Also has line in Illinois to j;ast St. Louis and to
'Quiney,
8 hlcago connecting with the HannibaUt St. Joseph Ro;id(purcha.sed by the
ci
Burlington i Ciuincy in 1883), acra.ss Missouri to St. Joseph.
Total mileage lu system proper Jan. 1, 1892, wiis 5,324, of which 138
miles were leased or operated with other companies.
The company
also controls and largely owns the St. Louis Keokuk & North Western, 218 miles (of which 41 miles are leased or operated Jointly
with other companies) ; the Kansas City St. Joseph ik Council Blurts
313 miles (3 miles leased or operated Jointly with other companies)
the Chicago Burlington & Kansas City, 220 miles (39 miles leased
or operated jointly with other companies); the Chicago Burlington &
Northern, 363 miles, and a halt-iuteiest with Wabash in the Humeston
6 Shenandoah. 93 miles. The Burliugtim & Missouri River, ownecl by
the C.B. & Q., is being extended through Wyoming, 45 miles to Powder River having been completed in 1892 prior to August 20.
OKQANizATioN, &c.— This was a consolidation in July, 1875, of the
A O. N.Y., F.L.&T.Co.&Bo«t. Apr. 1, 1926
4 D,
do
do
Juno 1, 1918
& V.
do
X>ec. 1, 1896
do
do
F. & A.
do
Feb. 1, 1893
Q.-M. N. Y., Boston and Cbic. Deo. 15 1892
j7& J. N.T.,Bk.ofCom.<&Bo8t. July 1, 1903
J. & J.
do
do
Jan. 1 1896
J. & D.
Boston, Co.'s OUIce.
June 1, 1895
A. & O. N. v., Bk.of Com.cfc Boat. Oct. 1, 1901
A. & O. N.Y., F.L.&T.Co.&Bost. Oct. 1, 1893
Boston, Co.'s Office.
July 1, 1894
J. & J.
A. & O. N. Y., Bk.of Com.dc Boat, Oct. 1, 1919
A. & O
do
do
Oct. 1, 1910
M. & S.
Sept. 1, 1921
do
do
Feb. 1, 1922
F. & A.
do
do
do
do
May 1, 1913
M. & N.
May 1, 1927
M. & N.
do
do
Sept. 1, 1903
M. & 8.
do
do
J. & J. Boston, Bk. of Com'roe. July 1, 19ia
July 1, 191»
do
do
J. & J.
do
do
Jan. 1, 1910
J. & J.
F. & A. N.Y.,F.L.&T.Co.&Bo8t. Feb. 1, 189»
J. & J. Boston. Bk. of Com'rco. July 1, 1919
J. & J. N.Y., F.L.&T.Co.A Bost. July 1, 1900
Boston, Co.'s Ofllce.
June 1, 1896
J. A D.
Oct. 1, 1896
A. & O.
do
do
M. & 8. Boston, Bk. of Com'roe. Mch. 1, 1908
Boston.
Dec. 1, 1927
J. & D.
Boston, Co.'s Office.
Jan. 1. 1910
J. & J.
A.
J.
J.
15,278,700
5
7,804,200
6
5,000,000
6
3,347,000
4
840.000
5
1,065,600
6
8
1,076,000
669,000
8
349.000
7
1,125,000
7
901,280
6
600,000
7
7,746,000
4,830,700 6 per an.
J.
2,989,000
6
M.
119.000
6
&
&
N.Y., Hanover Nat. B'k Oct. 1, 1892
D. N.Y.,4tliNat.Bk.&B08t. Dec. 1, 1907
N. Boston. Globe Nat. Bk. May 1, 1921
The collateral trust Nebraska extension bonds of 1887( New England,
Trustee., of Massachusetts, trustee) are issued at $20,00i) per mile for
single track and $10,000 per mile additional for second track. See'
abstract of mortgage in V. 45, p. 441.
The 5 per cent debentures of 1890 and 1892 are convertible into stock
at any time prior to December 1, 1902, except when books are closed.
Many of the bonds are redeemable (may be drawn) before maturity at
various prices, plus accrued interest, as stated in the table above. The
Burlington & Missouri In Nebraska 6s, due in 1918, are redeemable at
100. but this for the " exempt" bonds applies only after 1908.
General Finances.—The Chicago Burlington & (Julncy Railroad
has been one of the most protttable In the country, as Its numerous
branches tributary to the main line were built into choice agricultural
territory. Corn, however, beiug one of the principal articles carried
by it. Its earnings vary greatly according to the abundance of that
crop. The company for many years paid 10 per cent, then 8 per
cent, and since 1887 smaller dividends, owing to the inorea-sed competition and lower r.ites and the extension of roads in the far West.
Debentures for $7,639,400 were Issued in 1892 for eiiuinment, oonstruotlon, etc.
No expenditures are contemplated in 1892 beyond
those provided for by tliese bonds. Ou Oct. 1, 1893, Burlington St. Mo.
land grant 7s for $3,902,900 will mature. The sinking fund for this
issue, J.an. 1, 1892, held securities which cost $8,749,684, so that after
providing for the payment of the land grant bonds a large amount of
securities will revert to the comiiany's treasury. The saviug in Interest on payment of the laud graut bonds will be .$273,703 yearly.
Latest Earnings.— From Jan. 1 to Sept. 30, 1892 (9 months), gross.
Including lines controlled, were $29,306,770, against $24,406,057 in
1891; net, $9,854,226, against $9,109,457; charges, $7,290,000, against
$7,156,676; balance, surplus, $2,564,226, against $1,952,771 in 1891
Annual Repobt.— Fiscal year euda Dec. 31. Annual meeting Is held
the third Wednesday in May. Report for 1891 was published at much
length in the Ciikonici.e, V. 54, p. 558, 561. See also editorial lu V.
54, p. 581. The 0}>eration8 and fiscal results for tUo system proper,
)io( including the lines controlled, have been as follows
1891".
188!3.
1889.
1890.
Miles operated..
4,917
5,140
5,216
5,324
Pass ear. one m*
268,778,494 292,535,186 289,343.493"
Tons car. one
1,752,248,503 1,978,896,694 1,804.977,505
m
Passeugeream8.$6,146,121
$6,223,510
18,190,818
2,363,985
$6,369,646
18,843,104
2,513,217
$6,729,809
18,369,821
2,816,497
$26,778,313
17,690,547
$27,725,967
18,749,699
$27,916,127"
Oper.exp.&tax.l8,882,460
Net earnings.... $4,906,707
$9,087,766
$8,976,268
67'62
Freight
15,484,035
Mail.express.cfeo. 2,159,011
To. gross eam8.$23,789,167
18,549,257
$9,366,870
P. 0. op. ex. to e..
79-37
6606
66'45
Chicago Burlington Ai Quiney in Illinois and the Burlington & Missouri
The compauy's Income account. Including the receipts and disburse
Elver in Iowa. In 1880 the Burlington .fc Mis.muiri in Nebraska was
ments on account of lines controlled, has been as follows:
absorbed. The leased lines arc practically owned and there Is no charge
for rentals in the income account, except as interest on bouds
1888.
1889.
1890.
1891.
The
ownership in the other roads above-mentioued is lu the stocks and Not earnings.... $4,906,707
$9,087,766
$8,976,268
$9,366,870
bonds thereof, and their accounts are kept separate. In March 1890 Int. i exch'ge..
169,601
672,863
806,035
1,371,627
..
_ .
a controlling interest in the stock of the Chicago Burlington & North- NetB.&M.l. gr.
408,555
291,443
178,455
156,848
ern was purchased. See tliat company.
Lands.—The lauds have mostly been sold, but 93,400 acres remain- Total Income... .$5,484,863 $10,052,072
$9,960,758 $10,895,345
ing; land notes outstanding, Including Interest payable, $463,731.
Rentiilspaid.... $193,709
$192,119
$206,078
$230,280
Capital Stock.— The stock has been increased for the acquisition Interest on debt 5,111,527
5,425,611
5,491,992
5,817,266
of new hues, and In 1880 a distributlou of 20 per cent was made
Dividends
(5) 3,819,578 (4) 3,055,704 (5) 3,819,630 (4
3,246,686
Dividends.— From 1881 to 1887 Inclusive, 8; In 1888' ^- '>• Car.tosink'gTd.
691,474
744,472
745,492
764,839
.
^
WlllHi: In 1890, SOaUllia; in 1891, 75%®110; in 1892, to Nov., 18
90311008.
SINKING Funds.— Included In the bonds outstanding
the table
above are the foUowing which, with other bonds (the whole representing
a cost of $14,577,407) were on January 1, 1892, held alive and drawing
InclUBlve.
m
Tot. disb'sem'ts. $9,816,288
$9,417,906 $10,263,192 $10,039,071
Balance, sur.df..$4,331,425 sur.$634,166 def. $302,434 8Ur.$836,274
(V. 53, p. 325 ; V. 54, p. 242. 558,561,581, 643, 1047 ; V. 55, p. 551 )
Chicago Ac Eastern t\\lna\it.—( See Map.)— Owns from Dolton.
ni., to Danville, 111., 107 miles; Danville to Shelbyville, 92 miles ; Moto Indiana State line (Junction with the Chicago A: Indiana (Joall
mence
11 miles; Cissna Junction, 111., to Cissna Park, 11 milo«.
Leases-^
&. Indiana Coal Railway, Brazil to
La Crosse, Ind., 145"
and branches, 29 miles; Evansville Terre Haute & Chicago RaUroivd, Danville, Ul., to Otter Creek Junction, Ind., 49 miles
Indiana
Block Coal Railroad, Otter Creek Junctlou to Brazil. lud., 13 miles
Trackage— Otter Ocek Jmiction to Terrc Haute, lud., (Ev. & T. H ) 6
miles; Doltou to Chicago (C. & W. 1.), 17 miles. Total operated, 481 miles.
HisTORV, Leases,
Chartered as Chicago Danville 4 Vine. lines In 1865, and opened In 1872 and 1873.
Sold under foreclosure February 7, 187"?, and reorganized under existing title September 1, 1877. In February, 1889, gave its stock In exchange for stock
of the Chicago & Indiana Coal Bailway,whlch latter stock Is now held la
trust for the benellt of the Chic. & East. Illinois stockholders. In May
1892, leased the Chicago & Indiana Coal Railway for 999 years, guar^
anteeing Its bonds. This makes a separation of the companies impossible. Also owns control of EvansviUo Terrellaute & Chicago Railroad aud$l,000,000 stock of the Chicago & Western Indiana— which see
See CUKONICLE, V. 46, p. 134, V. 48, p. 334; V. 54, p. 964.
In January, 1890, a ten-year tralUo contract was made with ttio
EvansvlUe & Terre Haute for the operation of a through line between
Chicago
miles,
;
In Nebraska consolidated 6s of 1878, .$5,516.600 but only
$3,042,600
of this last amount in the sinking fund for tlie i.ssuo itself. Januarv 1
1892. the sinking fund of the Burlington .k Missom-i (in Iowa) laud grant
of 1893 held sundry bonds costing .$8,749,084, and $14,135 cash.
78
;
BONDS.— 1 he Iowa Division bonds cover the main line in Iowa from
Burlington to East Plattsmouth on the Mo. River, 279 miles, and 16
branclies, 511 miles, the prior liens being $3,968,000 Burl.
&
Mo. River RR. bonds. These Iowa
bonds have a sinking
fund of II3 per cent ($203,800) yearly, for which the 4s
are subject to call at 100, the 5s at 105. The Denver Extension bonds are
secured by deposit with the trustee of first luortg.'ige 5 percent bonds
,Umlt«d to $20,000 per mile of main track and $10,000 per mile of
second track) uimn about 400 miles of road, representing Hve ditTcrent
Unes, of whKli the most Impoitant Is that from Colorado
State Uue
westerly to Denver, 175 miles. They have a sinking fund of 1 per
cent,
for which they are subject to call at 100.
Ac—
Chicago and EvansvlUe.
SUPPLEMENT.
INYESTOES'
30
[Vol. LV.
Genifvf
V
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RAILROAD SYSTEM.
Hende^oR
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lOwensboro^
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TMorganfleldr
'^\^'} Grarfd Tdwer
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,
NASHVILLE]
'Gallatin
vOi>
E
.
NOTEUBBB,
ytIII
Miles
For explanation of colunin hoadlngs,
on first page of tables.
<*
Jso.,
see notes
Date
Size, or
mortgaKe
Coneol. mortgaRO (for $G,000,000), golds,
Collateral trust bouda, smking fund
General conaolidatod mortgage
Par
of
f
o*
c'
c*
15
208
cAr 221
Chlc.& Ind.Coal— Ist M. if'i.'j.OOO p.m.,giiar.p * l.c* 174
it £n«— Stock (all held by Erie)
Ist mortgage, gold, interest guaranteed
249
o*
Income bonds for $10,000,000 non-curaulatlve
249
Terminal Ist mortgage, int. 4 p. c. till July, 1893.
Chicago Fori Mailison c£ Des Motnes Stock
Chicago Orantl Jru/i/.'— Stock
Nortliwcst (}rand Trunk., Ist mortgage
66
1st mortgage for $fi,000,(X>0, gold
327
2d mortgage, $ and S,
o&r 327
Chicago Great Western— BKE TEXT.
Chicago Great West. Sustem—Chie. St.F.dK. CityChic. St. P. A Kan. (^ity— Stock
Priority loan, sterling, redeemable at 105
815
Minn. & Northwest. 1st M., g., $20,000 p. m..o'
515
Ch. St. P. & K. 0.1st M..g., (red.Jan., 1896). c*Ar
815
General mort. gold (Ist coup, due Jan. 1, '93). 815
Income b'ds (conv. Into 5 p. c. pref. stock)....
Equipment lease warrants
Chicago Iowa tt Dakota— Stovk ($97,800 pref.)
1st mortgage, gold
o
26
Chic. June. liys. <£ Un. Stk. Yard— See MISCELI,AN KOU8
Chic. Kan. city <t rejrtw— See K^vnsan City Bridoe & TE
1881 $1,000
1884
1,000
1887
1,000
1887 l,000&c
1886
1,000
Ohietii/o
—
Capital Stock.— The common stock
per cent on the preferred stock.
.
is
1890
i',6bo
1890 l.OOO&c
1888
ioo
100
1880 500&C.
1880 SlOO&o
1882 l.OOO&o
100
1889
1884
1,000
1886
1,000
1889 lOOOic.
1888 100 Ac.
1882
COMPA
HMINA
I'.OOO
;
;
;
&
Indiana Coal 5s
Latest Earnings.-From July Ito Sept. 30, 1892 (3 months), gross
$1,140,827, against $1,029,610; net, $466,007, against $431,813.
From July 1, 1891, to Jan. 31, 1892 (7 months), gross, $2,215,634,
agst. $2,133,909 in 1890-91; net, $925,017, agst. $1,113,673, operating
expenses in the iiresent year having included large sums for repairs. &c.
Annual Report.- Fiscal year ends June 30. Annual meeting is held
in Chicago on the llrst Wednesday in June. The annual report for
1890-91 was in V. 53, p. 473, as follows:
1888-89
1889-90.
1890-91.
Total gross earnings
$2,719,932
$2,911,723
$3,567,195
Operating expenses & taxes
1,724,547
1,731,369
1,946,499
Net earnings
$995,385
Net (Including other Income).. $1,000,398
Interest paid
Bentals
Dividend on pref. stock.
Total
$1,620,696
$1,660,279
$769,904
204,226
(690)275,949
$1,214,580
$1,105,531
$1,250,081
def. $214,182 Bur.$106,815 Bur.$410,198
Balance
(V. 53, p.
$1,180,354
$1,212,346
$724,550
$771,514
222,118
200,061
(6%) 267,912 (3%) 133,956
407, 473; V. 54, p. 276, 964.)
&
Erie.—Owns from Marion, Ohio, to Hivmmond, Ind.
and leases trackage over Chicago & Western Indiana to
Chicago, 20 miles. Connecting line for the New York Lake Erie <Sr
Western and the New York Pennsylvania & Ohio to Chicago.
History and Stock.— Reorganization of the Chic. & Atlantic, which
defaulted on interest November 1, 1884, and was sold in foreclosure
August 12, 1890. The New York Lake Erie & Western owns the entire
etock of $I(X),000 and guarantees the interest of the first mortgage
bonds. See reorganization plan in V. 44, p. 369.
Bonds.- The first mortgage (trustees Central Trust Co. and Edward
Daniels) bore 4 per cent interest till May 1, 1892, and thereafter
5 per cent. This interest is guaranteed by Ericas said above. Both
the first and the income mortgages cover 249 miles of road, the
oontract with the Cliicago & Western Indiana, $1,000,000 of that company's stock and $240,000 stock of the Chicago Beit Railway. See full
abstracts of mortgages in V. 51, p. 911 to 913. See also V. 54, p. 203.
A certivln percentage of the gross earnings is each year to be applied,
flrst, to payment of interest on the first mortgage bonds, second to the
payruent of interest on the incomes. If the gross earnings in any year
amount to $2,250,IX)0 or less, then this percent^igo is to be 22'3 per
eent; if to more than $2,250,000 and less than $2,750,000, then 25 per
cent: if to $2,750,000 or more, and less than $3,250,000, then 271^ per
cent; if to .$3,250,000 or more, then 20 per cent. In ease tlie percentage
of gross earnings is not sutficient to meet interest on the llrst mortgage
bonds and the Erie has to make up tlie dellciency, then tlie amount of
uch deficiency, witli Interest at 5 per cent, is payable to Erie in subsequent years prior to the payment of interest on the income bonds.
Interest on the incomes lias been paid as follows
For year 1890-91,
none; for 1891-92, 3 per cent, payalile October 1.
Earnings.— From Julyl to Sept. 30, 1893 (3 months), gross earnings
-were $080,008, .against $708,910 in 1891.
Gross enriiiugs for the year ending Juno 30, 1892, (the fiscal year of
thecouipaiiy), were $2,886,583, 27111 per cent of which was applicable
for Interest on bonds, equal to interest on first mortgage bonds, and 3
J>»r cent Interest on the Income bonds, payable Oct. 1, 1892. For ten
months to June 30, 1891, gross, $2,159,430; net, .$362,834. (V. 52. n.
428, 498; V. 53 p. 795; V. 54, p. 203; V. 55, p. 331.)
Chicago
miles,
:
Cltlcago 4c Grand Trnnk.—Owns from Port Huron, Mich., to
Xlsdon, 327 -n Ijs; leases Grand Trunk Junction Railroad, 4 miles, and
operates 5 TBiles Chi. & West, liid. trackage; total. .(3.5 miles. Stock,
$6,600,00 > .n $100 shares. Controlled by th« Grand Trunk of Canada,
which gtvjs a Iratflc guarnntec of 30 per cent of gross earnings.
From January 1 to fiept. :w in 1892 (9 months), gross earnings were
*576,112, against it55(;,l.jH In 1891; net, JB127,084, against il28,991.
In 1891, grosseanUngs, $3,726,106; net, $849,673; surplus overcharges,
5>10.0I«. against $1(»,«'25 In 1890.
300,000
J.
4 D.
O.
& A.
& N
& J.
& N
6g. A. &
M.
5
J.
6,600,000
Dec
Nov.
do
do
do
do
1,
1,
1,
1,
Jan.
1,
1931
1934
1913
1937
1936
May
1,
1982
Oct.
Feb.
N. Y., Met. Trust Co.
N. Y. L. E. & W.
N. Y.,wheu earned.
Oct. 1.
J. <b J. N.Y.,Drexel,Morg.4 Co.
M.
4to5
N. Y., Fourth Nat. Bank.
N. Y., Central Trust Co.
Dividend.
Oct. 1, 1983
July, 1918
6
14,892,900
2.823,150
9,628,000
9,326,000
4,886,000
4.981,700
1.723,431
245,200
307,000
J.
J.
J.
&
&
&
J.
J.
$558,000
$5,442,000
$6,000,000
4 J. N. Y.,Lon. & Amsterdam
&, J.
See remarks.
& J
do
& J. No Inter'stdue till 1893
& J.
None paid.
1934
1934
1936
Jan.
1989
July
1936
1892-1901
A
Deo.
J.
J.
J.
J.
[
t
N. Y. Agency, Bk. of Jan. 1, 1910
Montreal ^London. Jan. 1, 1900
do
do
Jan., 1923
7
'eg. J.
D.
Jan.
1,
1,
1,
1,
1,
July
July
1,
19SS
L.
entitled to all surplus after 6
;
6
$103,000
2,788,000
42,000
5,440,000
4,587,000
100,000
12,000,000
10,000,000
Bo«rf«— Prlndpal, When Due.
Storks— Ijat
NIKS.
Dividends since 1881— On common. In 1882, 3 per cent; In 1886, 5
In 1887, 6 none since. On new preferred in 1888, 7'a in 1889, 6 In
1890, December, 6 in preferred stock: In 1891, i^ cash; In 1892, 6.
Bonds, Guakantys, iScc— The Chicago & Eastern Illinois guarantees the Interest on Evansville Terre Haute & Chicago issues (see that
«omp'y) and interest on $150,000 Indiana Block Coal 1st 7s.
The general consolidated mortgage of 1887 (trustee. Central Trust
Company) provides for the retirement of $8,000,000 prior bonds and
for issue of Imuds on new mad at $18,000 per mile for single track,
^7,000 per mile tor equipment and $8,000 per mile for doulile track.
Chicago & Indiana Coal first mortgage of 1886 (trustees. Metropolitan
Trust Company and R. B. F. Pierce) is for ,$1,000,000 on road from
Yeddo to BrazU and $25,000 per mile ($7,000 of this for equipment)
for extensions second track, $8,000 per mile. The bonds are guaranteed principal and interest under the lease. (V. 54, !>. 964.)
General Finances.— This road has a considerable coal tratllc. Since
July 1, 1891, there have been Issued— for new road between Tuscola and
fihelliyvllle $823,000 general consol. 5s, and for new equipment $511,OOO of same issue; also for new road and equipment $185,000 Chicago
249
INTEREST OF DIVIDENDS.
Amount
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding
Cent.
Payable
whom.
of
Easlem Illinois— ( Continued) —
E.\t«n8ioii, 1st
31
confer a great favor bf elvlns Immediate notice of any error dlacovered in theae Tables.
RAILROADS.
Chicago
I
:
RAILROAD STOCKS AND BONUS.
1892.)
SubBcrlber*
;
Chicago Great Western.— rSee Jfa».>—OROANizATioN— Incorporated under laws of Illinois in January, 1892, to facilitate reorganization of the capital accounts of tlie Cliicago St. Paul & Kansas t'fty Ry.
Co. It is authorized to Issue (1) $15,000,000 of 4 per cent debenture
stock, mterest payable January and July in gold; (2) $1.5,000,000 of 5
per cent preferred stock " A," dividend contingent upon earnings,
payable half-yearly in gold; (3) $10,000,(X)0 of 4 per cent preferred
stock '• B," dividend contingent upon earnings, and (4) $30,000,000
common
stock.
Reorganization Plan CnioAOo
Paul & Kansas City.—In
St.
August, 1892, the following plan for the reorganization of the Chlo.
St. P. & K. C. without foreclosure was presented.
The plan has been
accepted by a majority of each class of securities, and wiU bo completed
as soon as the new securities can be prepared. See plan at some
length in Chronicle V. 55, p. 856.
The Chicago Great Western Company will assume the equipment
lease warrants ($1,723,430) and the priority loan ($2,823,150), and
offers—
a. To holders of Minnesota & N. W. and Ch. St. P.& K.C. flrst mortgage
for each $1,000 bond, with coupon of January, 1893, attached—
.$500 debenture 4 per cent stock (interest from July 1, 1892), and $6<X)
" (dividend from July 1, 1892.)
of 5 per cent preferred stock "
6. To holders of general mortgage bonds for each $1,000 bond having
January, 1893, coupon on, $1,CK)0 of 4 per cent preferred stock 'B.'<
c. To holders of incomes and stock, on payment of a 10 per cent assessment, a certain amount of preferred stock "B" and common stock.
To those not paying assessment a certain amount of common stock
only will be given.
Securitibs.- The securities to be assumed and issued are as
bonds
A
New
follows
Equip, lease warrants. $1,723,430 Preferred stock "A". .$11,372,400
Priority loan
2,823,150 Preferred stock " B".
8,842,920
Debenture stock
11,477,000 Common stock
24,676,300
From assessments and sale of $2,000,000 debenture stock (here Included) at 85 there will be available for improvements, etc., $3,678,460.
Holders of debenture and preferred A stock will appoint " the finance
committee of the company," [to exercise general supervision of
finances] and upon defaiut in payment of Interest on the debenture
stock or of dividends. If earned, on preferred A, they will have the solo
right through said finance committee and a receiver to be appointed
at request of said committee to direct the management of the
property. Additional securities of these two Issues can be put out, but
only with consent of a msilorlty of both said classes of stock present at
a meeting. Securities of other issues to have a lien prior to preferred
A can bo created only with consent of two-thirds of both classes.
The several classes in case of liquidation will have principal paid In
gold, according to their priority right to dividends. A deed of the
property to tlie Manhattan Trust Co. secures the riglits of the debenture and preferred A stockholders in these and other respects. (V. 53,
p. 473 ; V. 54, p. 159, 367, 525, 720, 887, 923, 964; V. 55, p. 145, 638,
765, 856).
Chicago Great 'Weatern System.— Chicago St. Paul dc
Kansas City.— CSee
Jtfap.;— Road— Owns
maiu
lines
(all
steel)
Chicago to St. Paul and St. Joseph, 690 miles; Hajileld to Manley
Junction, 47 miles branches—Summer to Hampton, 64 miles to cow
mines, <&o.. In Iowa, lO^a miles; other, 4 miles; total owned, 815'a
miles; and leases— St. Paul to Minneapolis, lO^a miles; Chicago terminals,
10 miles; Dubuque to Aitken, 16 miles; Des Moines terminals, 270
miles; St. Joseph to Kansas City, 67% miles; total leased, 107
miles. Total operated, 922>2 miles.
History, Lease, Etc.— The Chicago St. Paul A; Kansas City was organized in May, 1886. and in December, 1887, amalgamated with
Sliunesota & Northwestern, chartered in 1834. First mortgage coupons
due from Jan. 1, 1890, to July 1, 1892, both inclusive, were funded into
priority loan for $2,823,150. On July 1, 1892, leased to Chicago Great
Western in furtherance of a reorganization plan. See Chicago Great
Western above and V. 55, p. 856. There are three-year notes for
$120,000.
L.vte&t Earnings.- From July 1 to Oc'. 31, 1892 (4 months), gross
,
earnings (estimated) were $1,952,001, against $1 ,767,421 in 1891.
Annual Report.— Fiscal year ends June 30. Report for 1891-92 waa
In CliKONICLK V. 55, p. 638.
;
;
1889-90.
845
Average mileage owned and oper'd
$4,225,665
Total gross earnings
0peratlnge.xpenses,ln8ur.,&c.... 3,178,886
Net income
Interest
Rentals
Taxes
Total
Balance
1890-91.
1891-92.
887
922
$4,360,851
3,285,340
$5,024,740
3,664.677
$1,046,779 $1,075,511 $1,360,063
•$92,276
$1'28,816
•$54,590
355.'291
477,038
296,235
1(H),IX>0
93,000
87,000
.$705,854
$437,824
$540,567
sr.$608,955 8r.$534,944 sr.$654,209
* Interest on 3-year notes, priority loan and collateral notes.
J. M. Egan, President
A. B. Stlckney Is Chairman of the Board
New York office, 47 Wall Street.
L. Boyle, Vice-President.
;
;
W.
—
'
w
SUPPLEMENT.
INVESTORS'
39
LV.
[Vol
MAP OF THE
CHICAGO GREAT WESTE
OPERATING THE
3
^
CHICAGO, ST. PAUL
KANSAS CITY RAILWAY
vDuIuth
*s
J>etrolt Cy.
iO«V
N.P..Iunc.'
?>«t
^^mljerly
TVaflena Jc.
• •"
^
^
Pillager
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fllttle
Hinckley >
Fall^
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Alexandria
^auTc Centre\
£t.
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7\
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.
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NOTEUBEB,
1892. J
KAILROAD STOCKS AND BONDS.
3S
S4
:
. .
.
INYESTOKS' SUPPLEMENT.
Snbscrlbers will confer
a.
[Vol. LV,
great favor by giving immediate notice of any error dlncovered In tbese rabies.
Bonde—Princi.
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocka--Last'
of
Par
For explanation of column headings, Ac, see notes of
Whom.
Divldend.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
—
Chicago Milwaukee <£ St. Paul Oommon stock..
Preferred stock (7 per cent yearly, not cumulative
Mil. & St. Paul, Lacrosse Div. Ist M., convert. .0*
Iowa & Minn. Ist M. convert, into pf, stock. .0*
Prairie du Chien 1st M. (Mil. to Pr. du Chien) .0*
2d mortgage, convertible iifto pref. stock .c*
.
Iowa
4&
Dakota
1st M., conv. into pref. stock. .'0
River Div. (St.P.&C.) Ist M. con. into pf.stk.g .c*
392
230
195
195
126
130
85
1863
1867
1868
1868
1869
1872
1873
1874
1875
1878
1879
1880
1880
Chlo. <fe MU. Ist mort. (conv. into pref. stock). c*
Chic. Mil. & St. P. con. mort., conv. into pf. stk..
ClJ. Mil. & St. P. cousol. M., conv. Intopf. stock -C* 1,435
I.&D.Ext.l8tM.($15.000p.m.)con.intopt.st'k .0*
234
8. W. Div. 1st mortgage Western Union RR. .c*
212
80. Minnesota Div. Ist mortgage
.c*
419
.0*
Mineral Point Division 1st mortgage
142
Hast. & Dak.Div.,exten8. IstM. ($15,000p.m. c* 395 1880-6
0*
Lacrosse .fcDav. Div. 1st mortgage
185 1879
.0*
Wisconsin valley KK. (Jo. 1st mortgage..
107 1879
Wis. Val. Div. 1st M. of 1880, s. f., not dr'n .n*
161 1880
Dub. Div.(Cli.Cl.D.&M.) IstM., s. f.,notdr'n 0* 372 1880
Chic. & Pac. Div. 1st M. (Chic, to Miss. Riv) c*
120 1880
Western Div. 1st M., $20,000 per m., gold. c* 1,267 1881
Chic. & Lake Superior Div. 1st mort., gold. .0*
68 1881
Wis. & Minn. Div. 1st M. ($20,000 p. m.) gold
230 1881
Fargo & Southern Ist mort., gold, assumed....
119 1883
Fargo & Southern income bonds
...
0*
Terminal mortgage, gold
Dakota & Gt. Soulh'n IstM. ($18,000 permile.)g..
Chic. & Mo. Riv. Div. Istmort. ($20,000 p.m.). .c*
Inc. M..convei-t., s. f. $80,000 yearly (dr. at 105 «*
159
154
525
Gen. mort. (for $150,000,000), gold Series A.c* *r
<t North I'ac.—Ch. iteGt. West. Ist M.g.int.gu n*
First mort. for $30,000,000, gold, int. guar.c* Ar
651a
$<Sc
£
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1885
1884
1,000
1886
1,000
1886
1,000
1886
1,000
1889 lOOO&c.
1886
1,000
1890
1,000
10
Chic.
100 $46,027,261 See text. A A. 0. N.
100 25,653,900 7 per an. A. A 0.
1.268,000
7
J. *, J.
3,106,000
J. & J.
7
1,000
1,000
1,000
1,000
1,000
3,674,000
1,233,000
540,000
3,804,500
2,393,000
186,000
11,299,000
3,505,000
4,000,000
7,432,000
2,840,000
6,670,000
2,500,000
1,106,500
2,366,000
6,565,000
3,000,000
25,340,000
1,360,000
4,755,000
1,250.000
200,000
4,748,000
2,856,000
3,083,000
1,760,000
14,692,000
394.000
25,348,000
8
K.
F.
7-3
7
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7
7
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7
6
6
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5
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5g. A.
Cblcago :railiiiraukee &. St. Paul.— CSee Jfap.;—Line of Road.
Sxpeiises—
—The company operates a great consolidated system of railroads in Maintenance of way
Wisconsin, Minnesota, Iowa and Dakota, which are well shown
on the accompanying map. The main through lines are from Chicago to
Milwaukee, 85 miles; Milwaukee to St. Paul & Minneapolis, via La Crosse,
341 miles Milwaukee to Prairie du Chien, 194 miles McGregor (opposite Prairie du Chien) to ChamherUu, Dak., on the Missouri River. 442
miles ; Chicago, via Savanna, on the Mississippi River, to Council Bluffs,
Iowa, 487 miles; Marion, Iowa (near Cedar Rapids), to Kansas City,
305 miles; Miimeapolla to Aberdeen, Dak., 288 miles. On June 30,
1892, the mileage in Illinois was 318; in Wisconsin, 1,374; in Iowa,
1,553; in Minnesota, 1,120; n Missouri, 140; in North Dakota, 118;
in South Dakota, 1,097; trackage, 62. Total miles operated, June 30,
1892, 5,783. Second and third tracks and connections, 181 miles.
Also owns the entire stock of the Milwaukee A Northern RR. Co., but
operates it separately. See that company.
History,
The Milwaukee A St. Paul RR. Co. was organized May
5^ 1863, and on Feb. 11, 1874, took its present name. The system has
smce been greatly extended by the construction and aciiuisition of
other lines. The stock of the Milwaukee A Northern was acquired in
September, 1890, In exchange for common stock.
Capital Stocks.— The preferred stock has a prior right over the
oommon stock to a dividend of not over 7 per cent from net earnings in
each year, but if not earned it has no cumulative right. After payment
of 7 per cent on preferred and 7 on common, both classes share pro rata.
Common stock authorized, $47,062,560. Preferred stock on July 1,
1892, was $24,364,900, and it has been increased to present figures by
exchange of convertible bonds for stock.
Dividends since 1878— On common in 1879, 212 per cent; from 1880
to 1884, inclusive, 7 ; in 1885, 4; in 1886 and 1887, 5 in 1888,213;
then flone till 1892, when 2 per cent was paid Oct. 20. On preferred
from 1879 to 1887 Inclusive, 7 In 1888, 6 ; in 1889, 419 fi-om April,
1890 to Oct., 1892, 7 per cent per annum.
Price of Stock.—Common stock— In 1883, 91%-S108i3; in 1884,
58>4®94i4; in 1885, 64%®99; in 1886, 82»8®99; in 1887, 6958®95;
In 1888, 59i4®78; in 1889, 60%®75i4; in 1890, 44®79«8; in 1891, 50%
®823s; in 1892 to Nov. IS inclusive, VbOsUSi^.
Preferred stock— In 1883, 115®122i4; in 1884, 957e®119; In 1885,
102®125: in 1886, 116®125%; in 1887, 110®127i4; in 1888, 98isa
117; in 1889, 97®H8; in 1890, 99>4®123i6; in 1891, 105ia®12378;
to 1892 to Nov. 18 Inclusive, 120i2®128T8.
Illinois,
;
;
Ac—
;
;
Bonds.— Of the bonds given
;
in the table above as
outntanding,
$5,996,000 were held in the company's treasury on July 1, 1892.
An abstract of the tenus of some of the principal mortgages was published In the Chronicle, V. 45, pp. 85, 114, 144, 212, and V. 48, p. 830.
Of the consolidated mortgage bonds of 1875, enough was reserved to
take up the prior bonds these bonds may be stamped and discharged
from the sinlclng fund provisions. The St. Paul A (Jhicago, the Chicago
A Milwaukee, the consolidated, the Lacrosse Division, the Iowa A
Dakota, the Iowa A Dakota Extension, the Prairie du Chien 2d8, and
the Iowa A Minnesota Division bonds are convertible into preferred
stock. The terminal bonds issued in 1884 are secured by mortgage on
the terminal property in Chicago and Milwaukee, subject to the lien of
the general mortgage on part of the track and terminals; but it covers
also other property quite detached. The "income" bonds of 1886 are
no longer properly incomes, the payment of interest having been made
obligatory under penalty of foreclosure. They are convertible into common stock, on notice, 60 days after any dividend day, and have a sinktog fund of 4 per cent, $80,000 of them being drawn for payment
yearly at 105. They are secured by mortgage, subject to prior liens, on
road from Chicago to Kansas City, about 525 miles. In addition to
above bonds there are $89,000 Hastings A Dakota 7s, due Jan., 1903,
convertible Into pref. stock $123,000 Minnesota Central 7s, due July
1, 18! 4; also $225,000 5 per cent real estate mortgages due lnl894.
The general gold mortgage of 1889 for $150,000,000 was fully described in the Chronicle, V. 48, p. 830; see also V. 50, p. 205. The
United States Trust Co. of New York is trustee.
t' Gerekal Finances, Ac— The mileage and also the stock and debt
of this company increased very rapidly after 1879, the miles owned
being only 2,359 on January 1, 1880, and the stock and bonded debt. In
round figures, $69,000,000 on same date. A considerable amount of the
stock is lield by parties also interested in the Chicago A Northwestern,
so that the two roads are operated as a rule in harmony. In year '91-92,
$1,909,000 gcueval mortgage 5s were issued, and sundry bonds of par
value of $2,511,000 were canceled, including $2,088,000 converted into
pref. stock. Dividends on commcm stock were resumed
October,
1892, after having been su,speuded since 1888.
Latent Earnings,- July 1, 1892, to Sept. 30, 1892 (3 months), gross,
$8,586,385, agst. $7,770,167 In 1891; net, $2,807,139. agst. $2,710,082.
An>ual Rei'ort. —Fiscal year ends June 30. Annual meeting is
held in September. The report, for 1891-92 was to V. 53, p. 392, 419,
422, giving many valuable particulars.
1889-90.
1890-91.
1891-92.
Miles operated June 30..
5,721
5 702
5,721
Passenger earnings
$5,981,639
$6,277,774
$6,639,137
Freight
18,337,009
19,012,159
23,241 ,421
Mail, express, Ac
2,087,059
2,214,291
2,402,951
;
;
m
J.
Total earnings
$26,405,707
$27,504,224
$32,283,508
&
&
A
&
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
Y., Office
A.
A.
J.
J.
J.
J.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Taxes
Miscellaneous
Total expenses
Netearnlngs
London and New
N.Y.,OfBce,42WaU8t. Jan.
.1.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
0. N.Y.,London,Berliu,Ac.
20 ,1892
19 189S
1897
1898
1898
1890
1902
1903
1,
1,
1,
1,
1,
1,
1904
1, 1905
1, 1909
1, 1909
Jan. 1, 1910
July 1, 1910
Jan. 1, 1910
July 1, 1919
Jan. 1, 1909
July 1, 1930
July 1, 1920
Jan. 1, 1910
Jan. 1, 1921
July 1, 1921
July 1, 1921
Jan. 1, 1924
Api-il, 1 895.
Jifly 1, 191A
Jan. 1, 1916
July 1, 1926
Jan. 1, 1916
July
July
July
Boston, Lee Hlgginson.
N.Y. Otllce,42WallSt.
do
do
do
do
do
do
do
do
do
do
do
do
J.
do
0.
do
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
May
do
J.
1). N.Y., Office, 36 WaU St. Jime
$17,173,097
$9,232,610
65-04
Perot, of op. exp. to earns.
Oct.
Oct.
Jan. 1, 1893
July
Feb.
Feb.
July
York. Jan.
April
1890-91.
;$3,763,983
2,787,924
10,714,471
1 ,1989
1,
1,
1936
1940
1891-92.
857,906
242,214
$4,235,514
3,884,373
11,515,811
933,148
246,158
$18,366,500
$9,137,724
66-78
$20,815,004
$11,468,504
64-48
$3,119,714
2,639,849
10,388,382
830,046
195,106
.
WaU St.
do
do
do
do
do
do
1889-90.
Maint. cars and endues
Transportation
42
do
do
do
do
do
do
iNcoMe account
1890-91.
1889-90.
$9,232,610
220,025
$9,137,724
418,425
Total net Income
on debt
Dividends on pref. stock..
Miscellaneous
$9,452,635
7,214,155
(6) 1,296,828
$9,556,149
7,237,251
(7) 1,532,152
84,217
Total disbursements. .
Surplus
$8,510,983
941,652
1891-92.
$11,468,504
237,354
8,853.621
702.528
Netearnlngs
Otherincome
'
Interest
general balance JUNE
30.
1,449,498
1892
$191,544)853
7,419,241
232,972
256,160
2,385,002
5,996,000
4,043,530
4,770
$196,324,301
$211,020,441
$211,882,528
$39,868,961
21,839,900
125,693,000
2,880,278
3,529,492
$46,027,261
22,198,90C
129,797,000
2,786,778
3,546,775
3,477,228
91,646
3,094,853
$185,631,301
Road and equipment
1,233,388
Bonds and stocks owned.
214,957
Due from i»gent«. Ac
247,858
Due from V. S. Govemm't
2,407,369
Materials and fuel
2,178,000
Bonds of comp'y on hand.
2,961,930
Cash
MisceUaneoiis
Total assets
Liabilities—
Stock, common
Stock, preferred
Funded debt
Pay-rolls, vouchers, Ac...
Interest accrued, not due.
bills
112,414
$8,846,762
2,859,096
$189,624,728
7,337,244
256,914
276,251
2,313,223
5,692,000
3,493,760
2,026,284
1890.
Assets—
Loans and
$11,705,858
7,161,736
(7)1,572,612
payable.
93,156
2,419,514
Miscellaneous
Income account
1891.
Total liablUtles
$196,324,301 $211,020,441 $211,882,528
-(52. p. 41, 427; V. 53, p. 125, 157, 200, 222, 288,291; V. 54, p. 443
215, 392, 419, 422.)
V. 55, p.
Chicago *: Northern Pacific— CSce 3fap;— Oroanizatioit,
Property Owned, Etc.— This company was organized In 1889 in the
Interest of the Northern Pacific RaUroad to acquire the Important
terminal property at Chicago owned by the Chicago A Great Western,
Ac. The property covered bv the mortgage comprises the following
332 acres (46 acres in the heart of the city), with 65 13 miles of track in
operation; also a freight house with a capacity of 80,000 square feet;
a new pivssenger station, which with its appurtenances is valued at
$1,500,000, besides valuable street ana dock frontage on the Chicagu
River, round houses, etc. The company is also the owner by purchase
of a surhurban line running from 40th Street in Chicago, through five
populous towns, a distance of 9 miles, and Oct. 7, 1892, a completed
line southcrlv from Chicago to a connection with the Chicago A Calumet Terminal at Blue Island. See full statement in V. 55, p. 58; also p.
682. The Chicago A Calumet Terminal Railway, extending from Hammond, Ind., via Blue Island and Worth to La Grange, 33 miles of track
in all, crossing 26 lines of railroad entering Chicago has also been acthe interest of this company.
quired by Northern Pacific
Lease, Rental, Etc.— Leased to Wisconsin Central for 99 years, and
lease assumed by Northern Pacific, rental net earnings, and In addition
thereto $350,000 per annum, payable in gold. If these together do not
suffice to pay interest on bonds, rentals and organization expenses, the
lessee shall make up the deficiency, but advances so made shall be
repaid, with interest at 5 per cent, out of future earnings. See abstract
of lease in V. 52, p. 468. The Baltimore A Ohio uses this company's
terminals under a lease or contract which it is said will yield over
$ 100,000 per annum rental Other tenants are the Chicago St. Paul A.
m
Kansas
City.
Bonds and Stock.— There Is a purchase money mortgage
to the City
The conc. and due May 1, 1938.
mort. (trustee. Farmers' Loan & Trust Co.) is for $30,000,000. Of
$650,000
tills amount $18,850,000 was to pay for property acquired
Is reserved to retire mortgage to City of Chicago; $399,000 to retire outstanding bonds of Chicago A Great Western; $1,000,000 were authorized
to be applied to any deliclcncy of earnings to meet interest charges,
and have been so applied; and $9,101,000 were reserved for improvements, betterment*, rolling stock, etc. See mortiage abstract V. 52,
p. 465 ; also see V. 54. p. 1047. Stock outstanding and authorized Is
$30,000,000; par, $100.
EARNINGS.-From April 1, 1892, to August 31. 1892 (5 months), ue
earnings, not Including the Blue Island line, were $1>- 8,636. (V. 53, p.
umI.
u.a «a
640, 880 ; V. 54, p. 1047, 1048 ; V. 65, p. 21, 58, 682.)
of Chicago for $650,000, bearing 5 p.
sol,
;
November,
EAILKOAD STOCKS AND BONDS.
1893.]
MAP OF THE
CHICAGO
it,
NORTHERN
PACIFIC RAILROAD
M TERMINAL CONNECTIONS.
93
S6
mYESTORS' SUPPLElffiNT/
[Vol. LV,
.
NOVEMBEK,
EAUROAD STOCKS AND
1892.]
Subscriber*
:
97
BONDS.
confer a great favor by glvf ng; Immediate notice of any error dlnrovered In these Tables.
nrlll
RAILROADS.
a^ notes
For explanation of column headings, Ac,
on first pagre of tables.
Date
Size, or
of
Miles
of
Par
Road. Bonds Value.
<t Ifortnwettem— Common stock
Preferred stock {7 p. o. yearly, not cumulative) .
Peninsular RR. Ist raorti^axc ou road and lands.
cue & N. W. consol. sink. fund, uiort., not drawn.
Chic* Mil. 1st mortKivfte, Chicago to Milwaukee
Cedar Rapids & Missouri River.—
1st ui. 2(1. l)iv., Marsli'l'tn to Des. M. River.Ao
Ist niort. ;id Div., Des. M. River to Mo. River
Mort. of 1 884, 2d M. Ced. R. to Des M. River..
Iowa Midland 1 st mort. Lyons to Anamosa
Madison extens.lstM.,g. (s.f. $23,000, not dr'n)
Menominee ext.l8tM.,i. (s. f. S20,000, not dr'ni
Northwest. Union l8tM.,K.,Mil.toFond-du-Lac.
Chic. & N. W. general consol. M., g., s. f., not dr'n
Menominee River Ist mortgage, two series
Mil. & Mad. Ist mortgage, Milwaukee to Madison
)
Chicago A Tomah 1st mortgage, guar. p. & 1
Chicago Milwaukee & N. W. construction bonds ]
BscanabaA Lake Superior RR. IstM., guar. p. ifei.
JJes Moines & Miun. Ist M.,Des M.to Jewell.Ic, Ac.
OttimiwaC. F. &St. P. l8tM.($2.-),000p.m.), guar.
Northern Illinois 1st mort. (.$20,000 p. ndle), guar.
C.&N.W.s.f.b'ds of '79($l.'5,OOOp.ui,)red.atl05.c*r
Vhicago
,
Iowa Div.
.
.
:
l.stM. for.f;1.411,000 (,f20,000 p.ni.)c'
linking fund debentures of 1933 (not dr'n).c*Ar
Debenture l)onds of 1909 (for ifs«,000,000).c*&r
30-year dclientures for $10,000,000
c*Ar
Extension 4h ($20,000 per mile)
cAr
Other small issues (see remarks)
"Winona & St. Peter 2d mortgage (now Ist) guar.
Ist mortgage extens.. gold, land grant,s.f.,guar.
Maple Riverlstm., Maple Siv. Je. to Mapleton,gu.
Rooh. & No. Minnesota 1st mortgage, guar
.
1863
1865
1863
54
149
124
1863
1866
1884
1870
1871
1871
1872
1872
71
129
114
62
1,058
1,041
71
pal. When
1,000
1,000
1,000
500 4c.
500 &e.
LOOO
500&0.
J.
A.
A.
Z'?*•
3*?«•
560,000
1,600,000
1,528,000
601,000
i",6oo
1,000
1,000
1,000
1,000
l,000Ac
1,000
1,000*0
1,000 Ac
1,000 Ac
1,000 Ac
139 1870-1 I'.OOO
184 1871 100 Ac.
60 1877
24 1878
Chicago A. northwentem.—fSee Map)— JjisK OF RoAD— This
Company operates 4,273 miles of its own roads and controls Chicago
8t. Paul Minneapolis and Omaha (which see), 1,481 miles; Fremont Elkhom & Missouri Valley, 1,300 miles, and Sioux City A Pacific, 107
H.
8
2,977,500
2.546,500
3,365,000
12,336,000
F.
7
1,3.50,000
500 dko.
500 &o.
500 Ac.
76-'80
1880
(1880
(1882
1881
1882
1884
1885
1879
1891
1883
1884
1891
1886
7
7
582,000
2,332,000
769,000
6
6
720,000
600,000
6
J.
J.
M.
M.
7
5
5
1,500,000
13,922,000
829,000
9,800,000
3,569,000
6,350,000
17,689,000
250,000
1,592,000
4,067,500
6
M.
M.
4>a
1,600,000)
J.
P.
A.
A.
A6
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
O.
O.
D.
8.
D.
J.
N.
N.
J.
A.
S.
S.
O.
O.
5
5
5
M.
M.
4
F15AA.
N.
N.
A15AO
7
Various
M.
7
7
g-
7
7
402,500
200,000
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A.
N.
D.
J.
J.
M.
A
A
A
A
N.
D.
J.
8.
do
do
do
Da«.
SliM-kt—lMK*
Dividend.
A D. N. Y.,Co.'g 0«oe,S2 WaU
22,334,600 7 per an, Q.— M.
do
do
129,000
ft.il 8.
do
do
7
12,771,000
Q.-P.
do
7
do
1,700,000
J. & J.
do
7
do
100
108
788
85
57
64
75
\Bond»—'Pttjut-
When
Outstanding Bate per Payable Where Payable, and by
WTiom.
Cent
»il00 $39,054,383 6 per an. J.
4,250
4,250
31
82
152
43
INTEREST OR DIVIDENDS.
Amount
Deo. 28, 1893
Deo. 22i 1892
Sept
Pel).
July
1,
1,
1,
1898
1915
1898
1894
1918
1909
1, 1900
Apr. 1, 1911
June 1, 1911
June 1, 1917
Deo. 1, 1902
July 1, 1906
Sept 1, 1905
Nov. 1, 1905
Nov. 1, 1905
July 1, 1901
Feb. 1, 1907
Mch. 1, 1909
Mch. 1, 1910
Oct 1, 1929
Apr. 1, 1908
May 1, 1933
Nov. 1, 1909
Apr. 15, 1921
Aug. 15, 1928
Various, 1908
Nov. 1, 1907
Dec. 1, 1916
July 1, 1897
Sept 1, 1908
Feb.
May
June
Oct
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1,
1,
1,
the Chicago A Northwestern proper
the statistics of the Trans-Missouri Unes are given below.
The following
statlstios are for
SOAO AND EQUIPMENT.
miles; total owned and controlled, 7,161 miles. The main line from
Chicago to East Omaha, la., is 492 miles, and this forms practically the
Southern bouiulury of the whole systoin. The Sioux City & Paidflc
and Fremont Elkliorn A Missouri Valley are operated separately
1,407 miles), and their earnings not included in tliose of Chicago A
iforthwestem, hut sep-arately stated below and their securities, except
those held by Chic. A N. W., are in table above.
Tears end Kay 31.
Tot. miles oper.
History, Ac—The Chicago A Northwestern Railway was organized
In 1859, and has since absorl)ed many other roads.
In December, 1882, a controlling Interest was acquired in the stock of
the Ctilcago St. Paul Minneapolis A Omaha Co. by the purchase of
83,800 shares of preferred and 93,200 shares of common stock.
In July, 1884, the capital stocks (except a few shares) of the Fremont Elkhom & Mo. Valley and the Siou.x City A Pacific were acquired
on the tenns stated in the Supfle.me.nt of June, 1885, and prior Issues.
In Decernl>er, 1891, the Milwaukee Lake Shore A Western RR. was
bought by an exchange of C. & N. W. stock. It is operated separately.
See that Co. and V. 55, p. 218.
1888-89.
Pass'gers car'd.
11,465,903
Pass'g'r milc'ge 279,210,717
Rt'e p. pas.p.m.
2'24 cts.
Capital Stock.- Of the common stock $2,331,983 remained In
company's treasury in July, 1892, after the purchase of the
Milwaukee Lake Shore A Western stock. Preferred stock has a prior
right to 7 per cent; then common 7 per cent; then preferred 3 per cent;
then common 3 per cent; then both classes share.
DrvrDENDS—On common since 1881: From 1882 to 1884, inclusive, 7;
In 1885, 6>3 from 1886 to Deo., 1892, both inclusive, at rate of 6 per
cent yearly. On preferred in 1880 and 1881, 7; in 1882, 7\; In 1883
and 1884, 8; in 1885, 7>3 from 1886 to Deo., 1892, incluslre, 7 yearly.
Price of Stock.— Common stock— In 1884, 81's-B124; in 1885,
8438®11554; in 1886, 104>4®12058; in 1887, 104'4®127»e; in 1888,
10258ail6; in 1889, 102'2»114''8; in 1890, 98®117: In 1891, 102>«®
118%; in 1892 to Nov. 18 inclusive, Illi3ai21''8.
Preferred stock— In 1884, 117®149i3; in 1885, 119%'3il39''8; in
1886, 135®144; in 1887, 138314512; in 1888, 136i4'3il46; in 1889,
l35al44Ja; in 1890, 1343148; in 1891, 130®142iii; In 1892 to Nov.
18 Inclusive, 141i2®147ia.
Bonds.-The sinking fund bonds of 1879 are secured by a dejioslt of
mortgage bonds on 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.
$6,305,000 of them are 6s, and the sinking fund is at least 1 per cent of
outstanding bonds, the bonds being drawn at 105. There are several
small issues of bonds in addition to those in the table above, viz.: Minnesota Valley Railroad, $150,000 7s (April and October), due October 1,
1908 Plainview, $100,000 7s (March A September), due Sept 1, 1908.
In addition to the company's bonds, as shown in the table above,
there were June 1, 1892, $1,912,500 alive in the sinking fund.
The Iowa Division bonds of 1891 for $1,411,000 were authorized for
the retirement of a like amount of bonds maturing, including $582,OOO Cedar Rapids A Missouri River second division first mortgage
bonds, due February 1,1894. They cover road from WaU Lake to
Total earnings. ..$25,692,259 $27,164,837 $27,793,674 $31,422,272
Maintenance of way. $3,160,704 $3,680,437 $3,353,694 $3,920,697
tJie
;
;
;
1888-89.
1889-90.
4,250
4,250
1890-91.
4,273
786
546
806
558
846
558
858
632
25,746
26,384
26,348
27,944
Locomotives ...
Passu., Ac, oars
Fr'ghtAc.,cars
1891-92.
4,273
OPERATIONS AND FISCAL RESULTS.
1889-90.
1890-91.
1891-92.
12,142,783
13,184,829
15,018,223
279,699,383 309,212,070 336,878,416
2-17 cts.
2-17 ots.
2-17 cts.
Fht (tns) my'd. 11,154,715 13,138,110 13,616,872 15,337,758
Flit (tns) m'ge. 1804,701,696 2000,182,603 1950,037,071 2246,302.541
1 -02 ots.
Rate p.ton p.m.
1-01 cts.
0-98 cts.
1-02 ots.
Passenger earnings.. $6,261,277 $6,285,179 $6,700,351 $7,298,880
Freight
18,193,646 19,654,213 19,829,341 22,788,423
Mail, express, Ac
1,237,336
1,225,445
1,263,982
1,334,969
cars, Ac.
Transport'nAmlsoel.
Taxes
2,376,125
9,788,821
2,569,167
10,401,398
754,103
701,637
2,835,480
11,227,355
854,476
3,164,548
12,323,031
928,162
Total expenses. $16,027,287 $17,405,105 $18,291,006 $20,336,438
$9,664,972 $9,759,732 $9,502,668 $11,085,834
P. o.exp. to earnings.
(62-38)
(65-81)
(64-72)
r64-07)
'... $9,664,972
Neteamlngs
$9,759,732 $9,502,668 $11,085,834
Investments, etc
285,377
340,739
259,585
317,736
Neteamlngs
Total receipts.... $9,950,349 $10,100,471 $9,762,253 $11,403,570
Intereston debt
$5,825,833 $5,826,936 $5,880,390 $6,072,960
Dividends
3,444,504
3,444,979
3,445,804
3,675,735
Sinklngfund
58,000
202,^70
201,301
410,425
Total dlsbursm'ts. $9,328,337
Balance, surplus
$622,012
$9,474,485
$625,986
$9,527,496 $10,159,120
$234,788 $1,244,450
Trans-Missouri River Lines.— The earnings of these roads have
been as below
FREMONT EI.KHORN MISSOURI VAL.
SIOUX CITT AND PACDTO.
,fc
rr.eno. »fay31. 1891.
1892.
Gross earns..$3 ,3 10,239 $3,481,236
Net earns. ..$1,051, 612 $1,10-1,349
Totcliarges
990,411 1,031,477
Bal'nce,8ur.
$61,201
Tr.eTut.Hay 31. 1891.
Gross earns. $501,383
Net earns... $193,295
Tot.charges.
202,545
1892.
$510,218
$130,330
202,066
$72,872 Bal'nce, def.
$9,250
$71,736
Balance Sheet.—The following is the Chicago A Northwestern'*
balance sheet on May 31 of each of the years named
Kingsley, Iowa, 71 miles. See V. 55, p. 217.
The sinking fund debentures of 1933 were Issued to pay for the Chi^gggtt
1890.
1891
1892
cago St. Paul Minneapolis A Omaha stock the sinking fund for these Road and eqiUpment
$153,403,472 $157,193,271 $161,107,982
bonds is $200,000 per year, if they can be redeemed at 105.
Bonds owned
11,219,551
14,912,909 *14. 892,419
In June, 1884. $6,000,000 5 per cent debentures and in 1891 $10,- Stocksowned
12,151,500
11,966,.500
22,051,957
000,000 similar debentures were authorized; any future mortgage on Land grant investments
422,794
675,000
1,146,760
the property of the company, excepting any mortgage "for the en- Bills and accounts receivable..
1,825,439
1,751,922
1,994,771
largement, improvement or extension of the company's proi)erty" Materials, fuel, Ac
1,978,007
2,026,245
2,143,382
shall include these debentures.
Cash on hand
2,148,880
2,680,248
2,422,769
The Chicago A Northwestern extension bonds of 1886 are secured by Trustees of sinking fund
4,747,971
5,600,101
6,129,761
deposit in trust of first mortgage bonds of roads constructed oraoqulred,
at a rate not exceeding $20,000 per mile. The mortgage is for $20,000,Total
^
$187,897,614 $196,806,196 $211,889,801
OOO, and the Union Trust Company of New York is trustee.
Liabilities—
The Fremont Elkhom & Missouri Valley bonds have a first lien on Stock, common and preferred, $63,,720,320 $63,720,323 ;$63,723,320
1,300 miles (Fremont, Neb., to Deiwlwood, D. T., 557 miles, and Stocks of proprlet'ry roads, Ac.
579,110
529,885
519,510
branches to Hastings, Albion, Ac, 743 miles), but besides the amount Bonded debt
104, 985,500 112.570,500 114,235,500
of issue given as outstanding in the talile $13,235,000 are held as part Dividends declared, not due.
1 332,075
1,332,075
1,561,997
collateral for Chicago A Northwestern extension bonds of 1886. The Sinking funds paid
4,972,271
4, 747,1,70
5,405,696
Northwestern assumed .$3,600,000 of the Fremont Elkhom A Missouri Accretions to sinking fund
627,830
724,065
Valley bonds and guarantees the remainder.
Securities for cap. stock iss'd
10,009,823
Land Grant.— The report for 1891-92 showed tliat the total consider- Securities retired from Income
335,000
ation for the lands and lots sold in that year amounted to $903,837. Current bills, pay-rolls, Ac
2,102,309
1,946,601
2,470,107
Net cash receipts were $568,732. The statement of amounts secured Uncollected coupons, Ac
176,327
177,131
164,876
to be paid to the company by outstanding contracts of sale In force at Due to roads in Iowa
984,612
1,302,195
1,186,735
«he end of the fiscal year showed a total of $1,404,017. The lands Con.solidation Coal Co
125,000
128,520
Accrued and accnUng interest
ausold and uncontracted for May 31, 1892, were 772,967 acres.
1,573,344
1,649,017
1,652,589
244,649
120,087
100,580
Eabninos.- From June 1 to Sept. 30 (4 months) in 1892 gross earn- Miscellaneous
Laud income account
1,954,421
2,387,548
2,956,300
ings were $12,037,274, against $10,872,039 in 1891.
Railroad income account
5,371,977
5,470,733
6,715,188
ANunALRBPORT.— Fiscal year ends May 31. The annual meeting is
held the first Thursday in June. The report for 1891-92 was in V. 55.
Total
$187,897,614 $196,806,196 $211,889,801
See also article p. 199.
f>. 213, 217.
The surplus of tlie year 1891-92 from operations was as follows:
* Includes $13,235,000 bonds pledged as collateral.
Jnom the Chicago A Northwestern Railway, $1,244,430; from the
: Including $2,345,164
common, and $2,284 prefd In co.'s treaanrr.
Ttans-Missourl lines, $1,136; from the land department, $568,752;
(V. 52, p. 219, 761, 832, 862; V. 53, p. 156, 199,332,793,922; V.
••^
<otal, $1,814,338, available for Improvements, Ac.
54, p. 225, 525. 903, 923; V. 55, p. 1 99, 2 1 3, 2 1 7.
;
.
.
.
•
—
•
INYESTORS'
SUPPLEMENT.
Vol. LV.
;
;
November,
:
RAILROAD STOCKS AND BONDS.
1892.]
;
39
Sabscrlbers will confer a great faror br Klvlnx Immediate notice of any error discovered In these Tables.
RAILROADS.
For explanation of column headings,
on tlrst page of tables.
Chicago
Miles
Northwestern— ( Concluded)
>e
Date
Blzo, or
of
of
Par
&o., see notes
& Taylors' Falls Ist mort. ..c 21
Falls 1st mortgage
12
o
Paul & Minn. 1st mortgage, gold. ..o* 177
007
St. P. &Sfx C. lstM,,g.($7,O00,O0O)$10,000p.m.c
o*
80
North Wisconsin 1 st mortgage
Consol. mort., for $30,000,000 ($15,000 per m.).o« 1,374
37
Sault Ste. Marie & Simthwestern 1st M.,guar....c
Chic.dS.S.KapidTran.—liitM.,g.,s. f. Seetext.c*
1st mortgage for $3,000,000 on 2d section
Paul Stillwater
.
Hudson & River
St.
1878
1878
1878
1879
1880
1880
1890
1889
6
$1,007,000
2,000,000
6
7,725,000
6
1,000
159,000
6
100
169,000 7 per an.
500 &o.
1,628,000
6
500 Ac.
1,628,320
6
809,000
6
100 Ac.
250,000
618,300
i',6bo
1,500,000
1,000
1,041.000 5 A6 g.
1,000
850,006
1,000
1,680,000
100 46,156,000 See text.
1,000*0 12,100,000
6
100 Ac.
5,000.000
7
l,OO0&c 37,705,000
5
l,000&o
3.000,000
5
ICAOO & ST. 1X>DIS.
RN.
100 18,559,427
100 11,259,913 See text.
7
500 &c.
334,800
1,000
125,000
8
500 Ac.
3,000,000
6g.
6,070,00a
1,000
!«•
1,000
800,000
1,000
13,730,000
6
1,000
400,000
5
1,000
7,500,000
5g.
$1,000
50 miles; uses the Merchants' Bridge into
A B. N. Y.,Offloe, 52 WallSt.
do
do
A N.
do
& O.
do
M. & 8.
do
do
do
do
A. A O.
do
do
J. A J.
J. A J. U.S. Treas., at maturity
J. A J. N.Y.,Nat.ParkBk.ABo8.
M. A N. Int. funded till Nov. '93.
No coupons paid.
M. A N.
U. A S. N. Y., Amer. Ex. Bank,
M. A N.
do
do
do
J. A D.
do
J. A J. N.Y.,I)unnBros.,40Wall
Q.-F. New York and (,"hlcago.
N. Y., 13 William St.
J. A J.
do
M. A N.
do
do
do
J. A J.
do
M. A 8.
do
H.
H.
Nov.
A.
Oct.
St. Louis,
2 miles,
and leases Springfield to Litchfield, old St. Louis & Chicago BR., etc.,
60 miles. Controls aud operates the Litchfield CarroUton A Western,
to Columbiana, 5'2 miles; the Ix>uis\nllo & St. Louis, Centralla
to Drivers, 17 miles; and the Jack8on\'llle Louisville & St. Louis, JaokBonvlUe to Centralla, 111., 112 m.; trackage 13 m.; total syst., 416 m.
History.— Organized in 1887. With Its Jallied lines forms the
Jacksonville 8outhea.stern system.
In November, 1890, under a
tratllo agreement with the Atchison Topeka A Santa Fe, a through line
was opened between Cliicago aud St. Louis. (V. 51, p. 608.) An extension of 100 miles to Rock Island is being built.
Bamett
M.
A.
J.
J.
M.
A.
road.
The JacksouvUie Louisville A St. Louis Is successor to the Jacksonwhich was sold in foreclosure May 11, 1890. Its
bonds are guaranteed principal and Interest by this company, which
ville Southeastern,
owns $1,000,000 of the Jacksonville road's $1,500,000 stock.
Earnings.- From July 1, 1892, to Oct. 31, 1892 (4 months),
gross on
miles, partly estimated, were $482,613, against $152,741. For the
year 1891-92 gro.ss (estimated), $1,271,575, against $908,2.54 In 1891.
For year ending June 30, 1891, gi'oss earniugs on whole system were
$905,331; net, $280,180. From July 1 to Dec. 31, 1891, estimated
gross earnings were $598,809; not. $'209,604; interest charges same
time, $107,025.
S. Hook, President. Jacksonville, HI.
island A; Pacific— rScc Jfrep;- Line op Road.—
ClilcaKo
OwTis from Chicago to Council Blufi's, 490 miles; Davenport, la., to
Atchison, Kan., 312 miles Elinwood, Kan., to Liberal. Kan., 440 miles
Herlngton, Kan., to Minco, I. T., 247 inUes; Horton, Kan., to Roswell,
316
W
Rook
;
569 miles; McFarland, Kan., to Belleville. Kan., 104 miles;
branches to KnoxvlUe, St. Joseph, Sallna, etc., 524 miles; grand total
owned, 2,725 miles.
Leases Peoria & Bureau Valley Railroad, Bureau Junction to Peoria,
47 miles Keokuk & Des Moines Railroad, Keokuk to Des Moines, 162
Des Moines A Fort Dodge Railroad, Des Moines to Fort Dodge and
Ruthven, 144 miles total leased, 353 miles.
Leii.se8 trackage
Cameron to Kansas City, Mo. (over Hannibal A St.
Joseph Railroad) Council Bluffs to South Omaha, Lincoln, Neb., to
Beatrice, Neb., Kansas City to Nortli Topeka, and Limon, Col., to
Denver (over Union Pacific Railroad); Denver to Pueblo (over Denver
A Rio Grande), total 378 miles: grand total April 1, 1892, 3,456 miles.
Extension througli Ind. Territory under construction. V. 54, p. 462.
Col.,
;
;
;
:
;
History.—The Chicago A Rock Island Railroad was chartered
In niinois February 7, 1851, and opened from Chicago to the Mississippi
River, Julv, 1854. The present Chicago Rock Island A Pacific was a
eonsolidation June 4. 1880, with $50,000,000 stock authorized, and a
stock dividend of 100 per cent to the holders of Chicago Rock Island
A Pacific stock. The Chlcaeo Kansas & Nebraska theretofore leased
was purchased at foreclosure sale in April, 1891, and is now owned in
fee simple. See V. 53, p. 223.
Dividends.— In 1880, S^a cash and 100 per cent in stock; from
in 1890,4; In 1891
1881 to 1887, Inclusive, 7; In 1888, e^a; in 1889,
3; in 1892, February 1 May, 1 ; August. 1 November, 1 per cent.
Prick of 8TOCK.—In 1885,1053'132; in 1886, 120i8®l,31 in 1887,
109al4078; inl888, 94''8aill4ia;in 1889, 89i3®10438; In 1890, 61ifla
9858; In 1891.63%®90i8; in 1892, to Nov. 18, inclusive, 75'a®94>4.
Bonds. The extension and collatcr.al trust 5 per cent bonds (tnistee
of mortgage United States Trust Company) are Issued at the rate of
$15,(XX) per mile for single track, $5,000 per mile additional for equipment and .$7,.500 for second track. Tliey are secured by the
direct lien of a first mortgage or by deposit witli the trustee of an equal
amount of first mort. 6 p. c. bonds of l)rancli lines. After July 1. 1894,
they are red'lc at 105 in the order of their numliers. begiiiuiiig witli the
lowest. (See abstract. V. 47, p. 260.) Nov., 1891, amount outstanding
was Increased $1,470,000 to pay for 98 miles road built in 1880 fiom
Pond Creek to Minco, I. T., and in May, 1892. liy $1,2.'J5,000 to pay for
25 miles, fr<tm Minco southerly, and for additional C(iuipriient also in
September, 1S92. by $1,539,000 for ii further extension of tills branch
to a point on the lied River, a distance of 77 miles, and for equiument,
etc. On Nov. 1, 1892, there were $37,705,000 of these l)ond» outstanding, and $191,000 had been purchased for the sinking fund; of the
total sold $30,153,000 were issued at $15,000 per mile <m 2,010
inileg of track; $1,200,000 for Kansas City terminal proiierty and
'
;
;
—
;
f(u-
May
May
Mar.
May
1,
1,
1,
1,
June 1,
Jan. 1,
Nov. 1,
July 1,
Nov. 1,
July 1,
Sept. 1,
J. N. Y., Offloe,
do
J.
J.
do
52 Wall
do
do
do
St.
Jan. 20, 1692
Jan. 1, 1908
July
May
do
do
Apr.
do
do
Jan.
do
do
June
do
do
Nov.
do
N.Y.,B'k of Commerce. Oct.
N.
O.
J.
D.
N.
O.
1,
1,
1,
1,
1,
1,
1,
1008
1918
1919
1930
1930
1915
192»
fiscal
Gross earnings
Operating expenses
$17,639,061
12,475,067
Dividends
.
.
(4)1,846,228
$17,473,634
12,413,794
$18,690,075
13,147,057
$5,059,840
$5,543,018
(71-04)
(70-34)
$5,059,840
98,650
1,216,662
$5,543,019
70,0OO
52,200
$6,375,152
$1,872,113
2,714,950
188,538
(4) 1,846,232
$5,665,219
$774,806
(3)
2,813,325
143,858
1,384,674
Total disbursements
$6,451,382
$6,621,833
$5,116,663
Balance, surplus
$49,552
$246,681
$548,556
(V. 53, p. 157, 223, 474, 793; V. 54, p. 119,597, 889, 941,964.
966; V. 55, p. 462, 551.)
Cblcaso St. I^ouls Sc Pittsburg.—See Pi-rrs. CiN. Cuic. A ST. L.
CtalraiTo St. Paul
Kan. City.—See Chicago Great Westeru.
—
&
Oliloaso St.
Paul iniiincapolls & Omana.— r.S^ Map
—
Chicago
Iforthwestern.j—BxyxD.—iiain lino Elroy, Wis., to Omaha, Neb., 593
miles; otlier lines, 888 miles; total, 1,481 miles, of which 1,374 miles
are owned, 65 miles leased and 42 miles proprietary road.
History.— This was a consolidation July, 1880, of the Chicago St.
Paul A Minneapolis, the Nortli Wisconsin and the St. Paul A Sioux Citv.
In November, 1882, a controlling interest in the stock was purchased
for the Cliicago A Northwestern Railway by the acquisition of 93,200
shares of oommon aud 53,800 shares of preferred.
Stock.— Authorized common, $21,403,293; preferred. $12,646,833.
Controlling interest in stock is held by Ch. A N. W., as above stated.
Preferred stock has a prior riglit to non-cumulative dividend of 7 per
cent; but common Is never to receive more than is paid on preferred.
Dividends.- On preferred stock: From 1881 to 1884, Inclusive, 7 per
cent; in 1885, 4Si from 1886 to 1888, incluaive, 6 per cent; In 1889, 3
In 1890, 4; in 1891, 4; In 1892, Jan., 3 July, 3»2 in 1893, Jan., 3>s.
Bonds.— In 1892 consols for $317,000 were Issued. There are also
$75,000 Miuueapoiis Eastern 1st m., guar., 7s, due July 1, 1909.
Lands.—The land sales In 1891 were 110,231 acres, for $629,890, In
eluding lots; land contracts and notes on hand December 31,1891,
$1,100,103; lands undisposed of, 496,962 acres.
Latkht Earnings.— From Jan. to Sept. 30, 1892 (9 mos.) gross earnings (partly estimated) were $6,371,457, against $5,424,131 In 1891.
Annu.vi. Report.— Report for 1891 was In Chronicle, V. 54, p. 558.
1889.
1890.
1891.
Passenger earnings
$1,687,909
$1,677,130
$1,956,983
Freight
4,405,450
4,845,392
5,718,281
Mall, express, Ac
324,499
325,798
346,049
<t
;
;
;
;
;
$6,543,000
Oct.
Jan. 1,
Jan. 1,
Jan. 1,
1907
1907
1933
1896
1892
1898
1898
1928
1916
1916
1928
1939
1941
1940
1892
1017
1899
1934
1021
year end.s March 31. Annual meeting
is held in Chicago on the first Wednesday in June.
Report for 1891-92
In full was lu v. 54, p. 941, 96 1, 966. Earnings, Ac, have been
1889-90.
1890-91
1891-92.
Miles owned and operated.
3,456
3,339
3,408
Passenger earnings
$4,613,822
$4,762,894
$5,216,761
Freight
11,828,794
11,513,845
12,289,636
MaQ, express, rentals, etc.. 1,196,445
1,196,895
1,183,678
Annual Report.—The
.
tlie
Mar.
1,
1,
1,
1,
1
A
A
A
A
A
A
A
A
A
J.
J.
J.
Net earnings
$5,163,994
P. o. of oper. exp. to earns..
(70'72)
STOCK.—Capital stock is $3,500,000.
Net earnings
$5,163,994
127,300
Bonds.— The new consolidated mortgage secures bonds to be Issued From land department, etc..
(suflicient
bonds Chlo. Kan. A NoB. Interest.
mile upon present mileage
at
1,209,640
$20,000 per
being reserved to return prior bonds when due) and upon the line
Total Income
which the company proposes to build from Rock Island to a point on
$6,500,934
the Illinois River opposite Havana, also on a line, if built, from Litch- Rent leased roads
$1,784,024
Springfield; the Metropolitan Trust Co., of N. Y., Is trustee. Interest on debt
field to
2,625,5.50
The mortgage covers $1,750,000 stock in the proprietary Unos, and all Missouri Rlverbrldges
195,580
the eciuipment of
Sept. 1,
I
Chicago Peoria ic St. I,onlB.—Owns from Pekin, 111., to JaoksonvlUe, ni., and Havana to Springfield, 120 miles, and Litchfield to East
St. Louis.
Dae.
Slocks— he^t
Dividend.
—
Preferred stock, uoucuin. (see text)
St.
BotuU—Piiac'.pal. When
Where Payable, and by
Outstanding Rate per When
Cent.
Payable
Whom
Road. Bonds Value.
71 1882
Dakota Cent. l8tM.,WatortflwiitoRc(illcl(l, guar.
125 1882
Istmort. on Southeast Div. (to Hawarrlon) giuir.
Fremont Elk. & Mo. Val. coiiaol M. (sco remarks). 1,300 1883
1883
8. C. & Pan. Car Tr., ass'il, $40,000 rtr'n yearly.c
"e
Bloux City & Pac. pref. stock (1st mort. on 6 m.).
107 1868
let mortKaKO (assumed by C. & N. W.)
2d M. Ooverum't liou (accrued int. $2,237,749). 107 1868
1883
Mo. V. & Blair ER. Bridge, Ist, re'blo after 1893.
"86
1886
Chicago ct Ohio River— iBt mortgage (for $500,000)
1886
Income bonds
120 1888
Chicago Peoria it St. io«uf— Ifltmort^aKO, gold...o'"
170 1889
1st oonsol.M.g. ($15,000 p.m)($300,000 are 6g).o*
170 1891
Consol. mort. for $20,000 per mile, gold
o
112 1890
Jacksonville Louisv. & St. I.. 1st M.. field, giuir.o*
Chicago Rock Island it Pac. -Stock (for *50,00(),000)
736 1877
Iflt mort.. Chic, 111., to Council Bluffsibrauclies.o*
268 1869
Chic. & Southw. 1st M. (g'd in cur. by C.R.I. &P.).
1884
1st M. ext. and col. ($20,000 p. m.) red. aft. '94.c.tr 2.010
1891
c* Ar.
Debenture bonds (redeemable at lO."!)
Chicago St. Louis <£ Pillsbtirg-SKE I'ittrburo Ci NCINN ATI Ca
Paul d Kansas Vity—tiHK Oiucaqo G KEAT Weste
Chicago St.
Chicago St. Paul Minneapolis ut Omaha— Covi. stock.
Chicago
INTEREST OR DIVIDENDS.
Amount
equipment.
The delientures of 1891 (U. S. Trust Co., trustee) were Issued to pay
for terminals and liettermeiits as needed. The issue Is tor $10,000,000
and tlie bonds are redeemable on notice anj' coupon day at 105; of tliose
delientures $1,000,000 were issued lu May, 189'2.
Earnings.- Prom April 1, 1892, to Oct. 31, 1892 (7 montlis), gross
earnings (estimated) on 3,456 miles were $11,361,'273, against the
estimated gross earnings, $10,459,642 on 3,409 miles In 1891.
Total gross earnings
$6,417,858
Operating expenses and taxes. 4,484,412
$6,848,320
4,788,569
$8,021,312
5,446,114
Net earnings
Net from land grants
$1 ,933,446
561,426
$2,059,751
450,715
$2,575,198
468,728
Total Income
$2,494,872
Rentals, etc., paid
$90,644
Interest on debt, less credits. . . 1,323,61''
Dividends on pref. stock
(4) 450,272
$2,510,466
$92,731
1,280,228
(4) 450,272
$3,043,926
$105,993
1,346,827
(5) 562,840
$687,235
$1,028,268
Balance surplus
$630,342
— (V. 50, p. 370, 449; V. 52, p. 293, 461, 534, 832; V. 54, p. 558.)
Cliicago & South Side Rapid Trannlt.- ("Allev Elevated.")
—Owns
elevated ro.ad in operation in Chicago, extending from Congress Street, throngh the alleys In the middle of each block between
Waliasli Avenue and State Street to Fortieth Street, about 3% miles,
opened in May, 1892. In September, 1892, road had been opened to
Fif ty-tiftli Street and the alley between Calumet aud Prairie avcnurg,a
further distance of about two miles, making a total of about 5% miles.
It is expected that by the end of the vear the roatl will bo running to
the World's Fair grounds. Stock, $7,500,000; par, $100. Mortgage
(of 1889) trustee, NortheriiTnist Co. of lUhioiR, was to cover mail frma
Van Buren .Stn-et to Sixty-seventh Street. The bonds are redeomabl©
after Oct. 1, 1899, at llOand interest when drawn by lot. On Dec. 1.
1892, stocklKddcrs vote on a iiroposition to issue $3,')00,000 of flsrt
mortgage bonds on the " second section." Bee V. 55, p. 580.
40
INVESTORS'
SUPPLEMENT.
(Vol. LV.
;-
NOVKMBEB,
RAILROAD STOCKS AND BONDS.
1892.J
Sobacrlber*
nrlll
Miles
For explanation of column headings,
on first page of tables.
&e., see notes
West Michigan
<£
—Stiick
Grand Rapids Newaygo & Lako
81i.
l«t M,
2d Dlv.
& West Mloli. gcucral niort. ($12,000 p.m. ).o*
& No. Mich. l»tM.,gunr.,*18,00Opermlle.o*
Chippewa FaWej/— IstM., g.,$&£ for $1,800,000.0*
Choctaw Coal it K'u— Ist M.,gold,$20,000 per mile.
Receiver'H ccrtincates
Cincinnaii Dayton i£ Ironton
Ist mortgage gold, guar. p.
Ciiieinnali
Uamilton
it
—Stock
&
by
1.
Date
of
Par
C.
H.
<&
D...0*
48
48
48
1879
1882
$1,000
1,000
100
187S 500 Ac.
1881
1,000
1891
1,000
1888
1,000
1890
1,000
1891
46
482
91
47
65
97
i40
1891
1,000
Dayton— BU>ci
Preferred stock, Series
do
Series
100
100
100
100
A
B
"Eagle"
do
Consolidated mort. $ <& £, sinking fund
o*
do
do
o*
0*
do
do
Second mortgage, gold
o*
General mortgage, $7,800,000, gold
c*
Oln. Ham. & I. (Junction) RR., Ist M., guar.p.<&l.
Oinn. Jackson
Mackinaw Capital stock
1 St mortgage, gold
o*
Cincinnati Lebanon it Northern—Stock ($1,000,000)
1st mortgage
o
Consol. mortgage for $500,000
—
tfi
Non-Interest )i>earing certificates
Cincinyiati it Muskingum Valley' Stock
1st mortgage
Citieinnali New Orleans it Texas Paciflc—Stoe'k
Car trusts on July 1, 1892
60
60
60
69
60
99
331
331
1875
1875
1875
1887
1892
1873
1,000
1,1)0
1892
1,000
"38
38
1886
1,000
148
336
1870
1,000
1.000
1,000
1,000
1
000
100
100
—
50
o
100
OblcaKo ic lll^eatern Indiana.—Owns from Dolton and HanIlL, to Chicago, with a belt railroad and branches, with ware
bouses, elevator, &c., four main tracks, aggregating 100 miles, and with
sidings, 173 miles of track in all, including 2d, 3d, 4th and siding trac«
(of which 6G miles are leased to Bolt Railway of Chicago) and aoonl
400 acres of real estate. Leasks road and terminal facilities to the
Wabash, the Chicago & Grand Trunk, the Chicago & Ea,stern lUinols,
the Chicago & Erie and the Louisville New Albany & Chicago, each of
which five companies owns $1,000,000 stock, and also to the Atchison
Topeka & Santa Fe the annual rentals stipulated exceed the interest
charge considerably.
Capital Stock, $5,000,000, all owned as above stated. Dividends are
paid at irregular intervals. Bonds.— The bonds are liable to be redeemed
at any time at 105 by a sinkiugfuud, which is provided for by Increased
rentals to be paid for that purpose. Sinking fund payments (in 1890
about $100,000) apply only to 1st luortgage bonds till tiiese are all redeemed. In 1891-1)2 $1,000, 000 new bonds were issued for Improvements, &o. See V.52, p. 301; V. 54, p. 761. Report for 1891 was in
V. 54, p. 1009. (V. 53, p. 256; V. 54, p. 725, 761, 1009; V. 55, p. 373.)
Chicago ic West ITIIclilgan.^Owns from Lacrosse, Ind., to
Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids
Jimctlon to Big Rapids, 52 miles; other branches, 31 miles; total operated, 482 miles. The Chicago & North Michigan (see below) is In operation from Traverse City to Elk Rapids and Bay View, 81 miles.
Ohoanization, Stock, &c.—Successors of Chicago & Michigan Lake
Shore January 1, 1879. Consolidated in September, 1881, with the
Grand Haven Road and the Grand Rapids Newaygo <fc Lake Sliore.
Stock increased .$725,000 in Heptemlier, 1892, to purchase the stock of
the Chicago & North Michigan— which see below. (V. 55, p. 100, 297.)
Chicago & North Michigan.— Being built in the interest of the
Chicago & West Mich, from Traverse City to Straits of Mackinac, etc.
Its $1,675,000 first mortgage bonds are endorsed with a guarantee of
principal and interest. See V. 52, p. 427 and V. 55, p. 100, 297.
Dividends since 1880— In 1881 and 1882, 2^ per cent; in 1883, 3; in
1884, 4 In 1885, lis in 1886, 3 in 1887, 212 in 1888, 2 in 1889, 2
In 1890, 3 in 1891, Feb., 2 Aug., 1%; in 1 892, Feb., 2 Aug., lie.
Earnisos.- From Jan. 1 to Sept. 30, 1892 (9 months), gross $1,479,446, against $1,304,539 in 1891; net, $395,299, against $411,849;
charges, $212,3(16, against $208,031; balance, surplus, $182,933,
against $203,818 In 1891.
Annual Repokt.— Report for 1891 was in Chronicle, V. 54, p. 642.
In 1891 gross earnings were $1,757,553; net, $525,753; interest
charges, $272,832; other payments, $2,319; balance for stock, $250,602;
dividends, $232,337; surplus for year, $18,265. (V. 52, p. S33; V. 53,
p. 156, 187; V. 54, p. 642, 889; V. 55, p. 100, 255, 297.)
Oboctan Coal ii. RallYray.—In operation from Wisier, Indian
Territory, on St. Louis & San Francisco Railway, to South McAlester,
Indian Territory, on Missouri Kansas & Texas, 65 miles; Fort
Reno to Oklahoma City, 33 miles ; total, 97 miles. Projected easterly
to Little Rock, Ark., and westerly to Albuquerque, on Atlantic
& Pacific, with branch to Denison, Tex. Holds valuable coal leases.
Bonds for about $2,000,000 were pledged for loans. Stock outstanding, $3,750,000— par, $50. Car trust 6 per cents, $200,000. A committee, of wliich E. p. Wilbur of Philadelphia is chairman is preparing
a plan for either leasing, selling, or reorganizing the property.
On January 8, 1891, Edwin D. Chadlck and Francis I. Gowen were
appointed receivers, and $5(X),000 receivers' certificates were Issued.
The receivers' report in May, 1891, showed total indebtedness $2,756,<X)0
road constructed 108 miles ; road operated 65 miles April gross
earnings $56,947; net, $24,480 coal shipments 800 tons daily. In
May gross earnings were $67,252; net $29,207.
Cincinnati Dayton Sc Ironton,— ( See map Cincinnati Hamilton it Dayton.) Operates from Dayton to Ironton, Ohio, 162 miles,
standard gauge, of which 8 miles between Bakers and Byers and 12
miles between Deans and Ironton under trackage contracts also owns
from Wellston to Buckeye Furnace, 12 miles, and coal branches, 10
miles; total owned, 165 miles; total operated, 184 miles History.The Cincinnati Dayton & Ironton succeeded to a portion of the
Dayton Fort Wayne & Chicago (formerly Dayton & Ironton), which was
sold in foreclosure on January 20, 1891 (see V. 52, p. 164). Leased in
AprU, 1891, for 99 years (renewivble forever) to the Cincinnati Hamilton & Dayton, which guarantees the bonds, principal and interest, by
endorsement, and will turn over one-half the net Income remaining
after the payment of operating expenses, taxes and interest. See V.
82, p. 534, GSO. Mortgage is for $3,.")00,000, of which $1,500,000 reserved for equipment, extension to Ohio River, etc. Stock is $5,000,000. Gross Earnings for 8 mouths ending December 31, 1891, were
^78,895; operating expenses and taxes, $277,847; net, $101,047.
H. F. Shoemaker, President, No. 80 Broadway, New York City.
Cincinnati Hamilton
Dayton.— (SeeKap.)—Owns from Cin
elnnatl, O., to Dayton, O., 60 miles leases Dayton & Michigan, Dayton
to Toledo, 142 miles, and Cincinnati Dayton & Ironton, Dayton to
Ironton and branches 184 miles. Control's Cin. Hamilton <& Indianapolls, Hamilton to Indianapolis, 99 miles; Cin. & Dayton, Hamilton
to Middletown, 14 miles; Cincinnati Dayton & Chicago, Dayton to
Delphos, 95 miles; Troy & Piqua, 8 miles; Columbus Findlay &
Northern, Deshlcr to Fmdlay, 18 miles; Bowling Green R. R.,
Tontogany to North Baltimore, 21 miles. Total 641 miles. Owns
lolntly with Big Four the Dayton A Union— which see.
mond,
;
.
;
;
;
41
;
;
;
;
;
;
;
;
;
&
;
INTEREST OR DIVIDENDS.
Size, or
of
Amount
When
Outstanding Rate per Payable Where Payable, and by
Cent.
Wliom.
Road. Bonds Value.
OKie. (t Wat. Ituliatia— Stock
0*
1st M., gold, ». f., subject to call at 105
General niort., gold, giiikiiig fund, red. at 106. .0'
Chic.
Chic.
}
confer a great favor by glviaz Immediate uotlce of any error dlncovered In these Tables.
RAILROADS.
Chicago
"
—
hondn Prlnol-'
pal, When Due.
Stockt—lA»\
Dividend.
'
'
$5,000,000 Various Various
(?)
M. Sl N.
1,828,000
Y., Drexel, M. A Co. Auc. 1, 1019
7,396,666
do
do
Deo. 1. 1933
^^^ Q.-M.
See text. F. & A. Boston Of., 50 State St. Au<. 15, 1892
7,521,800 =
24,000
7
& D N. Y., Un. Tr. & Boston. June 1, 1900
5,753,000
& D. Bost'n, Nat. Webster Bk. Deo. 1, 1921
5
do
May 1, 1931
1,622,000
5
& N.
do
(»)
& J. New York and London. Jam. 1, 1929
hypotheo't'd
& 3.
Jan, 1, 1920
6g.
Deo. 31, 1891
500,000
5,000,000
1,752,000
8 g. M. & N. N. Y.,Ke8SlerACo54WaU Blay 1, 1941
Nov. 1, 189S
4,000,000 See text.
;.-F,
Clnolnnatt
500,000 4 per an.
Oct. 5, 189S
do
500,000 4 per an.
do
Oct. 1. 1898
.595,900
per an.
.— M.
do
Deo. 1, 1893
996,000
A." 4 O. N.Y.,Ke8SlerACo54WaU Oct. 1, 190S
7
do
1,371,000
A. &, O.
do
Oct. 1, 1905
6
435,000
do
do
Oct. 1, 190»
5
A. & O.
Jan. 1, 1937
2,000,000
do
do
4>ag. J. A J.
June 1, 194S
do
do
3,000,000
J. & D.
Jan. 1, 1909
1,800,000
J. A J.
do
do
16,300,000
June 1, 1991
New York.
4,000,000
4 k. 3. A'd.
992,000
Jan.', 1916
200,000
"s'
J. a'j. Clnni,' Fourth Nat Bank
Nil. Sept.'92
5
172,440
3,997,320
1,500,000
J. A 3. July,'86, coup, last paid. Jan. 1, 1901
Cincinnati, Co.'s Omoe. Oct. 19, 1891
3,000,000
1893-7-6
do
do
351,686
t-
History, Etc.— Company chartered In 1846. Main line opened i>
1851. Leased lines added at various times since.
In February, 1893, It was reported that this company would ao4Uli<*
the Indianapolis Decatur & Western RR. (which see).
In July, 1892, stockholders were to vote on a proposition to lease the
Cincinnati Jackson A Mackinaw (which see), but an injunction obtained by a C. H. A D. stockholder Interfered. V. 55, p. 145, 639.
Stock, Bonds,
In May, 1892, voted to lncrea.se common stock
by $4,000,000 for extensions, double ti-ack, new equipment and fundlug Houtiug debt. Also to Issue a general mortgage for $3,000, IX)0; the
supplemental deed provides for the issue under this general mortgage
of $1,800,000 additional l)onds for the sole purpose of retiring the
prior liens at maturity, and stipulates that at maturity the prior bonds
shall be paid and not extended; trustee. Mercantile Trust Company of
New York. The mortgage covers the perpetual lease of the Dayton A
Mlchigau, the profits under which are large. V. 54, 799; V. 55, p. 373.
In April. 1891, the Cincinnati Dayton A Ironton R.R. (which see)
was leased for 99 years. Its $3,500,000 of 5 per cent bonds being
guaranteed, principal and interest.
Company owns $700,000 (Jiucinnati Hamilton A Indianapolis bonda
not Included in amount outstanding above.
DiviDENDSon common stock since 1882 In 1883, 9 per cent; inl884^
6; in 1885, 6; in 1886, 7; in 1887, 6; in 1888 and 1889, nil; in 1890,
Aug., 1^4.
Spercent; in 1891, 5 percent; in 1892, Jan., 1>4; April,
Dividends on preferred stock from January 1, 1883, to July, 1886, at
rate of 6 per cent from July, 1886, to date, at rate of 4 per cent yearly.
Earnings.- Fiscal year ends Dec. 31. Income account for 1891 was
in V. 54, p. 924. Earnings have been as follows, the interest on bonds
in 1891 including interest on the C. H. A D.'s own bond.s, $263,790;
Dayton A Michigan bonds, $137,460, ou Cin. Ham. A Ind. bonds,
$126,000, and on Cin. Dayton A Ironton bonds, $39,200:
1891.
1890.
Gross earnings
$4,658,813
$3,896,451
Net earnings
$1,519,812
$1,681,641
Ac—
—
m
;
$528,630
260,874
175,339
H.
D.
A
A
D. dividends
M. dividends
Total disbursements
Balance, suridus
-(V. 52, p. 534, p. 80, 939 V. 53, p. 125
1047; V. 55, p. 145, 215, 373, 639.)
;
;
$566,450
263,782
180,78«
$964,843
$554,969
Interest on bonds
C.
$1,011,018
$670,623
V. 54, p. 287, 799, 924, 968,
St. Ijonts & Chicago.—See CleT»A St. Louis.
Cincinnati Jackson Sc macklnaiv.—Owns from Carlisle, Q^
Cincinnati Indlanap->ll8
land Cincinnati Chicago
north to Addison, Mich., 190 miles ; Allegan to Dundee, Mich., ISV
miles branches, 3 miles leases trackage Dundee to Toledo, 23 miles
total operated, 349 miles.
History.-This rallioai/ company succeeded on April 1, 1892, a rail*
road company of the same name, whose property was sold in foreclosure In 1891
(V. 53, pp. 520, 753, 922.)
Lease.- By plan of reorganization the road was to be leased for 99
years to the Cin. Ham. A Dayton, which was to guarantee by endorsement
principal and Interest of $4,8(X),0O0 99-year 4 per cent gold bonds.
As to proposed lease see V. 53, p. 94. Plan of reorganization as modified was In Chronicle, V. 53, p. 125. An injunction against the lease
was obtained by a C. H. A D. stockholder. V. 55, p. 145, 639.
Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months), gross
$201,693, against $195,167 In 1891; net, $67,297, against $57,174.
For year ending June 30, 1892, gross earmugs were $696,588 net,
$172,824. In 1890-91 gross, $724,972; net, $178,737. Walston H.
Brown, President, 20 Nassau Street, N. Y. (V. 53, p. 435, 520, 712, 753,
922, 968; V. 54, p. 33, 119, 287, 433, 485, 1047; V. 55, p.l45, 639.)
Cincinnati Lebanon
Northern. Cincinnati, O., to Dodds, Oy
36 miles; branches, 2 miles; total, 38 miles. This company was formed
In 1885 as successor of the Cincinnati Northern, sold in foreclosure.
Consolidated mortgage bonds for $5(X),000 wore authorized In 1891,
but none Issued to Sept. 1, 1892. In 1891-92 gross earnings were
$132,640 (against $136,281 in 1890-91); net, $43,637; surplus over
charges, $28,308. (V. 53, p. 569.)
Cluctunatl
Iflnsklngum Valley.—Owns from Morrow, Ohio,
to Trinway, O., 148 miles. Sold under foreclosure December 3,
1869, and reorganized as at present January, 1870. Gross earnings
other
in 1891, $165,260; net, $66,342; interest on bonds, $105,000
charges, $11,119; deficit. $49,776. Amount due Pittsburg Cincinnati
A St. Louis, former lessee, December 31, 1891, $1,081,013, and for coupons up to January, 1892, $604,415. Capital stock, $3,997,320— par,
$50—of which Penn Co. owns $2,430,900. Pennsylvania Railroad
owns $754,000 of the bonds.
Texas Pacific.— f$e« Jfan.>—ObCincinnati Neiv Orleans
oanization.— Company organized imder laws of Ohio Oct. 8, 1881, and
operates under lease the Clucluuatl Southern, extending from CJiiicfnnati to Chattanooga, Tenn., 336 miles. In April, 1890, the East
Tennessee Virginia A Georgia obtained voting power on $1,000,000
stock, through purchase of a oontroUlng interest In the Alabama Great
Southern, and company became a part of the East Tennessee system.
Rental due the
Sefe Chronicle, Vol. 50, p. 560; V. 51, p. 569.
CHty of Ciuclimati, whiob owns the Cincinnati Southern, $912,000 tlU
;
;
.
;
—
&
&
;
&
—
—
49
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S'l
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CLEVELAND, CANTON & SOUTHERN
o Ellison
infield
Railroad
/AahlaiKl/^
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SAmiMr
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Huntington
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Connections.
;
November,
—
:
—
—
EAiLEOAD Stocks and bonds.
1892.]
43
Immediate notice of any error discovered In theao Tables.
if»>jd»— PrlnclINTEREST OR DIVIDENDS.
Date Size, or
pal.When Due.
of
Par
Oi^aSdfiKr Kftte per When IWhero PayaWe, and by tftor^M— Laat
outstanding
Subitcrlbers urIII confer a Kreat favor hj clvlnc
RAILROADS.
Miles
For explanation of coluiuu lieatlhigs,
on llrst page of tables.
&o., see uotos
Oincinnali Portsmouth <t Virginia— Common stock
Preferred Btock (see text)
Oin. Hichmoiut d: Ft. W.~ Ist mort., Kold, Int. gii.c*
Oin.
Oin.
Saginaw
Mackinaic—lBt M. for ii!2,0()0,000 g.
and Cin.it Sar.— See CI. O. Ch. <eSt. L.
tC-
S. dS Olev.
of
Road. Bonds Value.
107
107
86
63
—
Cleveland Akron (C Oolumou.t. Stock
General mortgage, gold (for $1 ,800,000)
o
Equip. Tr. & 2(1 M., gold, red. l)ef ore maturity
Olece. Canton <« So«(/i.— Common stock, $5,000,000
Preferred G per cent stock .f 1 0,000,000
Cleveland & Canton tst mortgage
Equip. Tr. & Improve. 2d M. ($2,000,000) gold 0'
CosuocKm & Soutliem Ist mortgage, gold
Wayneslnirgli .t Canton 1st mortgagej gold
c
Consol mort., $26,000 per mile
178
178
161
161
30
6
(,g„|
,594,000
1871
1890
$1,000
1,800,000
1,680,000
$or *
100
1887 500 &c.
1890
1,000
100
100
1887
1,000
1891
1,000
1887
1,000
1888
1,000
1892
Car trust bonds
Oleve. Citin. <7A.<«S(.i.— Com. Bt'k($28,700,000au.)
Preferred stock, 5 per cent, non-cumulative
Cln. & Indiana Ist mort. (Cin. to Ind. State llne)o
Indianapolis Clncln. & Laf. mortgage
o
C.
I.
St. L.
& C.
con.
M.,drawn at 105, s.f
.
1 p. o. o"
General IstM.. gold, s.f. 1 p.c, notdr'n
c&r
Bol. & Ind. Ist mortgage (part due yearly)
Ciev. Col. Cln. & Ind. 1st M., sinking fund
Con. mort. (s. f. 1 p. c), dr'nat lOOif unst'mp'd
0* A r
Gen. oonsol. mort, ($12,000,000) gold
ludlan & St. L. 1st mort., in 3 scr. of $667,000.0.
2d M.($2,000,000),gold,Indianap.toTcrre H c.
Cl.Cin.Cliic.& St.L. Ist M.(Cairo Vfn. & Cliie.) g.oWhite Water branch, 1st mortgage, gold
o'
Spring. & Col. Div. (Col. 8p. & Cin.), 1st M., g.o*
St. LoiiisDiv. (St.L.Alt. AT.H.) ooll.tr.,g.,o'<fer
Cln. Wab.
Mich. Div. 1st mortgage, gold
c
&
100
100
....
21
154
175
400
119
391
391
391
72
72
267
69
45
194
203
1862
1,000
1867
1,000
1880
1,000
1886 l,000&c
1864
1,000
1869
1,000
1874
1,000
1884
1,000
1869
1,000
1882
1,000
1890
1,000
1890
1,000
1890 500 Ac.
1890 l,000&c
1891
1,000
Oct. 12, 1891; $1,012,000 tUl Oct. 12, 1896; $1,102,000 tUl Oct. 12,
1901, and $1,262,000 tlU 1906. Claims against the city arc pending.
See V. 55, p. 721.
Dividends since 1881 In 1882, l^a per cent; In 1883, 3; In 1889, 3;
in 1890, 6 per cent; in 1891, 4 per cent.
L.vTEST Earsings.— From July 1. 1892, to Sept. 30, 1892 (3 months),
gross earnings, $1,086,238, against $1,155,371 In 1891; net, $226,372,
against $39 1.763.
Ansu.ii. Rei'ort.— Fiscal year ends June 30. Report for 1891-92 was
in V. 55, p. 721
:
1888-89.
Gross earnings
$3,655,859
Net earnings
$1,145,256
Rental paid
$912,000
Dividends
90,000
Sinking fund, etc..
77,359
1889-90.
84,309,144
|l. 580,963
1890-91.
$4,379,143
$1,364,640
1891-92.
$4,337,498
$912,000
180,000
90,912
$912,000
60,000
100,750
$1,124,121
60,000
.$1,137,688
Net surplus
$65,897
$398,051
$281,890 def.$46,433
—(V. 52, p. 321. 939; V. 53, p. 289, 601, 968; V. 55, p. 543, p. 721.
Cincinnati Portsmouth & Vlria^lnla.—Owns from Idlewild,
O., to Sciotoville, 107 miles; trackage (Cln. Lebanon A Northern)
te Cincinnati, 4 miles total, 111 miles. Ohio A Northwestern was sold
in foreclosure March 13, 1890, and reorganized. Preferred stock is entitled to 5 per cent dividends, then common to 5, then both pro rata.
From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings were .$190,889, against $180,232 in 1891 net, $35,719, agamst$20,153. In year
1891 gross earnings were $246,650; net, $29,832. In 1890, gross
$227,813; net, $19,124. (V. 52, p. 899; V. 53, p. 48.)
Cincinnati Rlcbniond tc Fort 'Wayne.— Owns from Rich
mond, Ind., to Adams, Ind., 86 miles; leases 5 miles of Pittsburg Fort
Wayne & Chicago; total operated, 91 miles. Leased for 99 years to
Grand Rapids A Indiana, the rental being net earnings. Interest is
guaranteed by the lessees and by the Pennsylvania Company and Pittsburg Cincinnati Chicago & St. Louis Company Jointly. Gross earnings
In 1891, $452,008 net, $121,840; interest on bonds, $120,000; rental,
etc., $37,540
deficit, $41,699.
Profit to guarantors in 1890, $3,854.
StocK, $1,709,313— par, $50, of which Ponn. Co. owns $1,256,900.
Total advances by guarantors to December 31, 1891, $1,155,203.
;
;
;
;
Cincinnati Saginaw
Bay City, Mich., 53 miles,
& lUackinaw.— Owns
Durand to West
1890 to the Toledo Sagiuaw A
till January 1, 1920. to the
Chicago & Grand Trunk Railway Company. Of tlic $2,000,000 bonds
$320,000 were reserved for new terminals, extensions. Ac. In 1891
gross eaminga were $184,731; net, $40,867; interest on bonds, $84,000; dcticit for year, $43,132. (V. 51, p. 645.)
Cincinnati Sanduiiliy it. Cleveland.— Owns from Sandusky, O.
to Dayton, O., 154 miles; branch, Carey to Flndlay, 16 miles; total.
170 miles. October31, 1890, leased till 1969to theClevcland Cincinnati
Chicago A St. Louis, which purcliased the oommiin stock, and agreed to
pay interest on thelionds and dividends on preferred stock. See V. 51,
p. 457. The preferred stock has a lien bv deposit of old bonds in trust.
Cash dividends since 1876: On preferred, 6 per cent yearly to date
on common, in 1882, 2; in 1884, 2; fn 1888, 5; in 1889, 3^2; in 1890, 5»a;
In 1891, 3 in November. (V. 52, p. 80, 428; V. 55, p. 177.)
Cincinnati & SprlnKfleld.— Operates from Cincinnati, O., to
Springfleld, O., 80 miles, orwhlch 32 miles are leased from other companies. The whole is leased and operated by Cleveland Cincinnati Chicago A St. Louis Company, giving them a lino into Cincinnati and depot
accommodation. Lessees apply any excess over operating expenses
and interest to Cincinnati A Springfield stock. Interest is guaranteed
on the llrst mortgage, one-half by the lessees and one-half by Lake
Shore A Michigan Southern. Stock is $1,100,000 (par $50), voting
JBOWcr on $616,450 being held by trustee for Cleveland Cincinnati Chicago
A St. Louis. To January, 1890, the Cleveland Cincinnati Chicago A St.
Louis had advauced $2,951,814. In year ending June 30, 1890, gross
earnings, $1,196,410; net, $332,618 deficit under interest, Ac, $457137.
Cleveland Altron & Columbus Railway.— Owns from Hud
on, O., to Columbus, O., 144 miles; Dresden branch, Killuick to Trln
way, 34 miles and trackage, Clnu. A Muskingum Vallev Ry., Trlnway
to ZanesvlUe, 16 miles— 50 miles; total, 194 miles. Sold in foreclosure m 1882, and reorganized under this title in January, 1886.
Dividends.- In 1886 and 1887, each lia per cent; for 1888 and 1889
each 1 p. c; in 1890 1 p. c; in 1891 1 p. c. fn Nov.; in 1892, 14 in Oct|
BosDB.— Tlie equipment bonds (authorized to a total of $890,000, or
„
$5,000 per mile) are a second mortgage. They are redeemable at 100
and interest on August 1, 1900, and at 105 and Interest on any August
1 thereafter prior to 1930. See full statement to N. Y. Stock Exchange
Mackinaw.
fciuccessiir in
In September, 1890, leased
;
dated Feb.
$62,626.
9,
1891, in V. 52, p. 464.
On July
1,
Whom.
Payable
Dividend.
$1,566,000
1892, bUls payable,
Latkbt Eauningb.— From July 1, 1892, to Sept. 30, 1892 (3 months,
CT0S8 were $265,806, against $256,237 in 1891 net, $»0,891, against
$77,448.
Anncal Rbi-oht.— Fiscal year ends June 30. Report for 1891-92
with balance sheet, was In V. 55, p. 588, showing gross earns (in"
eluding Dresden branch) $967,945 ; net, $262,793; rentals. .$39,583i
taxes, iji2.^).8.'-)l interest, $123,71 1; dividends, $.-)0,0(K); capital expend
itures, $J 9,813; balance, surplus, ».3,835. In 1890-91 $902,536
net.
$239,380. <V. 53,p. «73; V. 55,p. 688.)3
;
;
;
7
J.
J.
g.
6g.
&
&
A Co. June
New York and London. Jan.
D. N. Y. Winslow, L.
J.
1921
1920
1,
1,
4,000,000 Heo text. Ann'Uy,
Oct. 3, 1892
1,75.-5,000
M. & 6. N. Y., J. A. Horsey,
Mob. 1, 1927
600,000
Cg. F. & A.
do
do
Aug. 1, 1980
3,099,599
8,500,000
2,000,000
J. A J. N.Y.,KnJckcrb.Tr.ABOB. July 1, 1917
1,000,000
5 g. A. & O. Boston, Internal. Tr.Co. July 1, 1917
600,000
5
J. & J.
do
do
1917
do
200,000
J. & D.
do
June 1, 1928
I'"i2,V,oo6
6
28,000,000 See text.
10,000,000 5 i)er an.
294,000
7
379.000
7
745,000
6
7,459,000
^«149,000
3,000,000
7
4,062,000
7
3,205,000
?^2,000,000 •
500,000
6,000,000
650.000
1,250,000
4 g.
10,000,000
4,000.000
4 g.
n.
do
do
M. & N.
Somi-an Drexel, Morgan A Co,
Q.-J.
do
do
do
do
J. & D.
F. A A.
do
do
M. & N.
do
do
Q.— F.
do
do
do
J. & J.
do
M. & N.
do
do
J. A D.
do
do
do
J. A J.
do
Various
do
do
do
M. A N.
do
J. A J.
do
do
do
J. A .T.
do
M. A 8.
do
do
M. A N.
do
do
do
J. A J.
do
1942
Aug.
Oct.
Deo.
Feb.
May
Aug.
1,
1,
1,
1,
1,
1.
1892
1892
1892
1897
1920
1936
Jan.' 93 to '99
May
1,
1,
1,
July 1,
Nov. 1,
Jan. 1,
July 1,
Sept. 1,
Nor. 1,
July 1.
June
Jan.
1899
1914
1934
1919
1912
1939
1940
1940
1990
1991
Cleveland Canton Sc Southern.— CSe« Map.)— Ovna from Cleve
land to Zancsvillc, O., 145 miles Canton to Sherrodsvlllo, 43 miles
Minerva Branch, 3 miles; Canton to Marks, O., 6 miles; Chagrin Falls
to Solon, 8 miles total, 206 miles.
fliSTORV.— A consolidation in May, 1892 (V. 54, p. 844). of Cleveland Canton A Southern (including Coshocton A Southern). Waynesburg A Canton, Cleveland Chagrin Falls A Northern and Cleveland A Canton, the last named successor to the Connotton Valley RR.,
sold in foreclosure in May, 1885. The consolidated company comprises
206 miles of main track, well equipped with rolling stock, and Including
all the terminal property as Cleveland, Canton and ZanesvlUe.
Stock, and Bonds. The consolidated company assumes all the
liabilities of the constituent companies, which in the aggregate
are less than $24,000 per mile, and will probably issue a oonsolldated 5
per cent mortgage for $20,000 per mile covering all the property. If
Mils is done holders of securities of tlie oompanies fonning the union
will have the privilege of exchanging their bonds for the now consols.
The company's outstanding bonded debt on May 19. 1892. as shown in
the table above, was .$3,92.5,000, and there were held in the company's
treasury $200,000 Cleveland Canton A Southern 1st 58 and $200,000
Cleveland Chagrin Falls & Northern 1st 5s.
Eaunings.— From July 1, 1892, to Sept. 30, 1892 (3 months), gross
$284,478, against $216,194 in 1891 net, $103,.'64 .against $77,148.
Gross earnings for year ending June 30, 1892, were $777,599, against
$648,678 in 1890-91; net, $274,888, against $233,651. In 1890-91
surplus above charges $32,400, against .$6,047 In 1889-90.— (V. 51. p.
644 V. 52, p. 350, 939 V. 53, p. 256, 836 ; V. 54, p. 844.)
Cleveland Cincinnati Chicago Sc St. Louis. —^5ee Map.)—
(The linos of this company, clearly shown on the accompanying map)
are in.ade up as follows
Owned directly ~
Miles.
Milee.
Cleveland, 0.,to Columbus,©.. 138 Branch (a)
16
Galion, O., to IndianapoUs
203 Cincinnati A Springfleld Ry—
Delaware to Springfield
Ludlow Grove to Dayton. O. .48
50
Cincinnati to Lafayette
174 Coliiin. HopoA(Jreensb'gRR.
Indianapolis to E. St. Louis . . 262
Columbus to Greensburg.Iud. 26
Branch
Traekager7
Leased—entire slock owned—
L.E.A W..Laf.toTemplet'n,Ind. IS
;
;
—
;
;
;
.
Clncln. Lafayette
A Chic. Ry.—
Templeton, Ind., to Kankakee, ni
Cambridge C. to N.(5astle,lnd. 14
B. 0. 8. W. into Cincinnati
6
56 Other trackage
5
Cairo Vlncennes A Cniic. Ry.—
Cairo, 111. to Tilton A branch 267
Total on which earns, were
reported June 30, 1892.1,852
Columbus, O., to Springfleld.. 45 Operated; earnings kept sejiarale
White Water Harrison, Ind., to
Peoria A Ea-st'ii Ry. (6).
Hagerstown, Ind
Springfleld, O., to Pekin, U1..343
62
Cin. Wabash A Michigan Ry.—
Trackage Pekin to Peoria, ni.. 9
Benton Harb., Mich., to Rushville, Ind
206
Total Peoria A Eastern
352
Vernon Oroensb'g A Rushville
Kankakee A Seneca BR. (6)—
RR.— North Vernon, Ind., to
Kankakee to Seneca, 111
42
Rushville (a)
45 Mt. Gilead Short Line
2
Fail-land Franklin A MartlnsDayton A Un. RR. (see that Co.). 47
\'Ule RR.— Fatrland, Ind., to
(Oper. Jointly with C. H. A D.)
Martinsville (a)
38 Trackage 111. Cent, into Chicago. 56
Other lines (ai
11
Leased major ilystockown'd^Grand total inol. trackage
Clucln. Sandusky'ACleve. Ry.
and road oper. jointly
2,351
(Entire common stockowned.)
Double track
44
Sandusky, O., to Dayton, O. .1.54
,
Columbus Springllcld A Cin.—
—
—
—
.
a No
debt, or
bonds
all
owned by
Clov. Cin. Chic.
A St.
L.
6 One-half or more stock owned, or controlled.
The company is also one-fourth owner of the Peoria A Pekin Union
Ry., oneseventU owner in the Terminal Railroad Association of St.
Louis and tA-o-ttfths owner of the Indianapolis Unum Railway.
HisToRV, Etc.— A consolidation of the Cincinnati Indianapolis St.
Louis A Chicago Railway Company, the Cleveland Columbus Cincinnati A Indianapolis Railway Company and the Indianapolis A St, Louis
Railway Company, made in July, 1889. it is one of the so-called
Vanderbllt roads. The St. Louis Alton A Terro Haute main line and
branch were purchased in 1890 for $10,000,000 of 4 per cent bonds.
In 1889 acquired the entire stock of the Cairo Vlncennes A Chicago
and in 1890 leased the Peoria A East<irn (which see). In 1890 also
practically .absorbed the Columbus Springfleld A Cincinnati and the
Cincinnati Sandusky A Cleveland. Ac. See v. 51. p. 457. 608.
Capital Stock.— The consent of a minority interest of the preferred
stockholders is required before any new bonds can be issued or any
lease executed. According to Olilo statutes company has privilege of
retiring preferred stock at par after June 27. 1 89"2. On Jan. 1, 1890,
the common stock was f 20,500,000, and it has bscn Increased to presint flgure to acciuir.' stocks of lines absorbed, etc. Total authorlted by
stockholders was $28,700,000 July 1, 1892.
Dividends.- On preferred stock
per cent quarterly to date.
Dividends, on common. In 1890, 4 per cent (1 per cent being extra lu
July), in 1891. 3 p. c; In 1892, Jan.. l^s p. c; Aug.,
Phue ok Stock.— ommon— In 1889 68'a to 78%; in 1890, 55 380 k; la
1891, 56%a74ia; in 1892 to Sov. 18 inclusive, 59>aa75.
Preferred stock— In 1889.96 to 103>a: in 1890,869101: in 1891.
90®98ia; in 1892 to Nov. 18 Inclusive, 95a99>4.
m
m.
r
44
INTESTOES' SUPPLEMENT
[Vou
LV..
c
.
NOTKMBEB,
RAILROAD STOCKS AKD BONDS.
1892,1
Subscribers
wrlll
confer a great faTor by Klvlnc
KAILROAD8.
For explanation of column headings,
on llrst page of tables.
Cleveland Oin. Chic.
<t St.
notice of
49
any error discovered In these Tables.
Bond*— Piinol*
INTEREST OR DIVIDENDB.
pal.WIien
Date Size, or
Amount Rate per When Where Payable, and by
of
of
Par
Road. Bonds Value. Outstanding
ynxxL.
Cent.
Payable
Dae.
S/oeAM— Lost
Dividend.
Louis (Concluded)—
.
2d mortgage
56
1871
$1,000
i'TO
1866
1888
1871
1872
1878
1884
1,000
1,000
1,000
1,000
1,000
1,000
Wheel.—C\. Tuso. Val. & W., 1st mort
o
Cleveland Lorain A Wheeling Ist mortgage
<t
170
48
48
158
164
B. N. Y., Drexel, M. & Co.
N. New York and lAtudon.
A. Boston, Nat. Revere Bk.
J. N. Y., Drexel, M. A Co.
do
do
O.
J.
&
&
&
A:
&
&
&
A
F.
$792,000
'8428,850 « per an.
6
27,000
6
2,511,000
2,000,000
125,000
7
700,000
7
150,000
6
50
. .
c
Car trusts
ImmeMate
MUes
&o., see notes
Oblioatioks for Propbietaby Lines.
Cincinnati Lafayette & Cliicago.lst raort., gold.o
Cincinnati Sandusky & Cleveland— Prof stocli
8. Day. & C.(Mad.R.&L.E.) lstM.,».f.,dr. at 100.0
Consolidated Ist mortgage ($3,000,000) gold. .0
Ctnciunati & Sprlngfleld— 1st mort.. Int. guar....o
Clecel. Lor.
)
>
a"a. N.Y.,Wln8low,Lan.<kCo. Au«.
M.
U.
F.
J.
A.
3.
A.
J.
O.
J.
Nov.
1901
1893
Apr. 1, 190i
Jan. 1, 1903
Un Tr. <t Qeve'd
Oct. 1, 1898
July, 1896
do
do
2,
Feb. 1, 1900
Jan. 1, 1929
do
do
N. Y.,
Sept. 1,
1.50,000
—
o*
Cleveland t£ Mahoning Val. 1st mort., ext
3d -mortgage (now 2d)
mort. for $3,000,000, gold
Consol.
OJfcr
Cleveland dt Marietla Ist mortgage, gold
Cleve. it PiWsft.— Stock, 7 p. c. guar, by Penn. Co...
Consol. sink, fimd mort. for $5,000,000,notdr'n.o
o'
Gen. mortg., gold (guar. Pa. RR.) series A
Constr'n and equips Inc. bd8.,8cr. "A" > 8.f.,dr'n.o
do
do
do 8er."B"5 at 100.
Colorado Midland— See At. Top. & 8anta Fe system.
Columbia <£ Qreenville Ist mortgage, gold
c*
C
—
—
i99
199
164
164
63
ColumhiaNeicb. i«iawre>w— lstM,for$12,000 p.m.,g
Columbus i£ Cincinnati Midland—Counaon stock..
Preferred stock (see remarks)
1st mortgage, extended, guaranteed
Debentures, guaranteed
1881
1881
1887
1,000
1,000
1,000
71
0*
2d mortgage
1873 .>o6' &c,
1876 500 &c
1888 l,000&c
1887
1,000
50
1867
1,000
1891
1,000
1,000
1873
1873
1,000
i25
125
125
97
1884
1890
1,000
Columbus Hocking Valley<t Toledo —Common stock.
ioo
100
Preferred 5 per cent stock, non- cumulative
Columbus & Hocking Valley Ist mortgage
o'
Col. <fe Toledo 1st M. (Columbus to Walbrldge)..o*
2d mortgage (Columbus to Walbrldge)
1867 500 cSeo.
1875
1,000
1,000
1880
121
118
118
Bonds.— In 1891 $4,000,000 of 4 per cents were issued, secured by a
mortgage on Cincinnati Wabash & Micliigan, which see. (V. 52, p. 718.)
6,')4,000
do
& 8.
do
do
do
F. 4 A. N. Y., Cuyler, Morgan.
N. Y., Wlnslow, Lanier.
Q.-M.
do
M. & N.
do
do
do
J. A J.
do
J.
do
J.
do
do
J. A J.
7
Ccn.Tr.,54 Wall.
J.
%' J. A O. N.Y., '92, ooup. laat pd.
April,
A. A
1,
1898
M.
Sept. 15, 1896
See text
487,900
1,500,000
5g.
590,000
6«.
11,247,314 7 per an.
1,645,000
7
3,000,000
41s g.
7
\
894,000
Jan. 1, 1938
Ang.
Nov.
Jan.
Jan.
Jan.
<Sc
2,000,000
1,000,000
707,000
6g. J.
2,000,000
1,000,000
2,000,000
J.
4>a
419
240,000
J.
11,696,300
2.000,000 5 per an. J.
1.401,000
7
iA.
2,500,000
7
F.
7
Im.
600,000
<b
A
A
A
A
A
a
1,
1937
Deo. 1, 1893
1,
1,
1,
1,
1900
1943
1918
1934
Jan. 1, lOie
Apr. 1, 1928
1937
J.
N. Y.; Bait.; Columbia.
J.
J.
N.Y.,Panner8'L.iT.Co. Jan. 1, 1939
Bait., B.
<fe
O.
RB.
Jan.,
Jan. 1,
Co.
1808
N. Y., Co's. Office.
July 1, 1893
O. N. Y. Atlantic Trust Co. Oct. 1, 1897
do
do
A,
Aug., 1906
3.
,
,
S.
do
do
I
Sept.,
1900
Philadelphia, 31 miles; Yellow Creek to Bellaire, 43 m.; trackage, Rochester to Pittsburg (Pittsliurg Fort Wayne & Chicago), 26 miles; total
operated, 224 miles. The property was leased for 999 years from December 1, 1871, to Pennsylvania Railroad Company, and lease trans*
ferred to Pennsylvania Company May 1, 1872. Rental, 7 per cent on
existing capital (10 per cent on tlie old) and $10,000 per year for oom*
pany expenses, the lessees assuming all liabilities.
In 1891 the general mortgage for $10,000,000 was authorized, the
bonds being guaranteed principal and interest (endorsed) by the Pennsylvania Railroad. Tliere is a sinking fund, but none of this Issue can
be called for payment. See V. 53, p. 639, 754, and V. 54. p. 206.
In vear 1891 the deficit to lessee was $14,795, against a detloit of
$2,517 in 1890 and of $229,740 in 1889— (V. 52, p. 80; V. 53, p. 639,
754; V. 54, p. 78, 202, 203, 206.)
There are $88,000 Col. Spring. A Cin 7a still outstanding, for which
$112,500 of the SpriuKfleld & Columbus Division 4s are reserved.
The Cincinnati Indianapolis St. Louis & Chicago 4 per cent mortgage
for $10,000,000 will retire all prior bonds as they fall due.
The sinkmg fund provision of the Cleveland Columbus Cincinnati &
Indianapolis consolidated bonds may be canceled at option of holders,
and the bonds so stamped.
Of the Indlauaj)oUs <fe St. Louis first mortgage bonds series " A " are
J. & J.; series •' B," M. & S.; series " C," M. & N.; and the $500,000 six
per cents are owned by the Pennsylvania RR. Co.
The bonds of 1889 on the Cairo Viuccnnes & Chicago are uonds of the
Cleveland Cincinnati Chicago & St. Louis Co., but are secured by a mortgage made by the Cairo Vincennes & Chicago Company.
Colorado Midland.—See Atchison Topeka A Santa Fe Ststkm.
Of the $10,000,000 St. Louis Division bonds of 1890 issued to the St.
r'oltiinbta Sc Greenville (S. C,)— (See Map of Richmond <t Dan'
Louis Alton & Terre Haute in payment for its main line, l>onds for
The company owns from Cfolumbia to Greenville, S. C.,
6,700,000 are reserved to retire all existing liens on the road, and ville
143 miles; branches to Abbeville and Anderson, 21 miles; total«
t 250,000 bonds are held in a sinking fund for the issue, bonds to be 164 miles. Also owns Laurens Railroad, 31 miles,
and leases Blue
purchased at or under 105 with the income therefrom— no bonds drawn.
Eidge Railroad, 32 miles, and Spartanburg Union A Col. RR. (which see),
For full abstract of deed of trust see V. 52, p. 42-45.
On July 1, 1892, there W(!re outstanding $403,425 bills payable and 69 miles. Total operated, 296 miles. The Greenville A Columbia road
was sold in foreclosure April 15, 1880, and reorganization was made
$360,000 equipment bonds.
under this name. Preferred stock, $1,000,000; common stock, $1,000,Latest Earnings.- From July 1, 1892, to Sept. ao, 1892 (3 months), 000 par of shares, $100. Due Rich. & Danv. June 30, 1891, .$492,604.
gross, $4,109,506, against $3,886,691 in 1891; net, $1,051,383. AU the common stock is pledged by the
Richmond & West Point Teragainst $1,217,524; interest, rentals, etc., $659,690, against $680,252; minal Com oany, under its collateral trust of 1887, and in
May, 1886,
surplus, $391,693, against $537,272.
the road was leased to the Richmond & Danville RR. Co., which see.
Annual Report.— Fiscal year ends June 30. Annual meeting is Interest due Oct. 1, 1892, on the second mortgage was not paid. See
held on last Wednesday in October. See report for 1891-92 published Riclimond A Danville.
at much length with balance sheet, Ac, in V. 55, p. 571 589.
From July 1 to Sept. 30, 1891 (3 months), gross earnings were $172,549, against $198,463 in 1890; net, $30,047, against $44,996.
1889-90.
1890-91.
1891-92.
In year ending June 30, 1892, gross earnings, .$750,709 net, $153,Miles operated
1,588
1,588
1,588
Passengers earnings
$3,422,872
$3,649,.505
$3,824,201 ) 63 interest, $180,000 rentals, $77,987 balance, deltcit, $1 04,829.
In 1890-91 gross $875,484; net, $223,984 (V. 53, p. 844; V. 55, p. 371.)
Freight
8,598,838
8,608,219
9,129,417
Mail and express
617,435
630,892
631,768
Columbia IVeivberry tc I.auren«.—Owns from Columbia, 8. C,
to Dover Junction, near Clinton, S. C, 63 miles. Lease to the receiver
Total earnings
$12,639,145 $12,888,616 $13,585,386 of tlie South Carolina Railway having tenninated, road is now operated
Operating expenses and taxes. 8,739,182
9,193,992
9,838,542 liy the Atlantic Coast Line. Rental, $3,993 monthly. Stock authorized. $2,000,000 outstanding, $500,000; par, $25.
Net earnings
$3,899,963
$3,694,623
$3,746,844
Ooliimbus A Cincinnati Midland.— Owns Columbus, C,
Rentals
265,513
245,823
232,730 Midland City, O., 71 miles. Oi>ened in November, 1884. Affords to
the
Interest, &c
57,649
82,938
11,342 Baltimore A Ohio a direct route between Pittsburg and
Cincinnati.
Stock, common, $2,000,000; preferred (non-voting), $1,000,000. In
Total net income
$4,223,125
$4,023,384
$3,990,916 January, 1890, leased for 999 years to Central Ohio, bv which assigned
Interest on bonds
$1,788,257
$2,123,303
$2,293,642 to Baltimore & Ohio. See V. 51, p. 718. The Baltimore A Ohio as.^umee
Rentals
936,585
469,406
27(>.532 the Central Ohio's guarantee of principal and iuterest of the lionds and
Dividends
1,320,000
1,318,322
1,340,000 owns all the common stock. It also assumes the Central Ohio's guaranMiscellaneous
14,940
10,792
tee of 3 per cent per annum, payable Remi-annually, commencing with
Jan. 1, 1895, on the preferred stock, •' unless said stock be redeemed at
Surplus
$163,344
$101,561
$80,742 not less than its par value" at any time after January 1, 1893. Gross
(V. 52. p. 428,498, 499, 534. 718.761; V. 53, p. 288, 500, 519, earnings in 1891, $343,008; net, $34,202; interest, $100,800: delioit.
351, 922; V. 54, p. 276, 444, 525, 903; V. 55, p. 374, 571, 589, 598. $66,598, against surplus in 1890 of $1,012.
—
;
,
;
;
;
;
.
;
—
Cleveland Lorain
dc lH^taeellng.—Owns from Lorain, O., to West
miles, and branch to Bellaire, O., 6 miles,
into Wheeling.
Sold in February, 1883, and
reorganized as Cleveland Lorain & Wheeling. Stock. —Common, $1,000,and preferred $4,600,000; par, $100. In June, 1892, a controlling
000,
interest in the preferred stock was sold to a syndicate composed of IL
F. Shoenuvker and his associates. Sec V. 54, p. 1047. Lake Sliore &
Michigan Southern owns $169,100 common and $774,400 preferred.
Earnings.- From Jan. 1 to June 30, 1892 (6 mouths), gross $669,996,
against $590,344 in 1891: net. $112,161, against $133,521. In
1891 gross earnings were $1,332,534; net, $323,353; Interest, $58,000;
balance, surplus, $265,354, from which paid on car trusts $76,000, and
for new equipment and improvements, $;j8,000.
Dividends on preferred stock in 1887,3 per cent; in 1888, 2 per cent; lu 1889, 2 per
cent. (V. 52, p. 830; V. 54, p. 933, 1047.)
nrheellng,
O.,
158
and has trackage
Cleveland tc mahonlng Valley.—Owns from Cleveland, O., to
Sharon, Pa., 81 miles Niles, O., to New Lisbon, O., and liranchcs, 44
miles total operated, 125 miles. Leased to the New York Penu. & Ohio
the rental is $514,180 per year. Of the bonds of 1888 (tru.still 1982
tee of mortgage Central Trust Company) $1,141,000 were reserved to
;
;
;
A
retire prior liouds in 1893 and 1896. Coupon interest isJ.
J., registered interest, Q.—J. Stock is $2,759,200 (par $50), of which $2,758,250 is held by the " Atlantic llrst Leased Lines Rental Trust Co.,
Limited," of I^)ndon, and dividends of about ll^a per cent per annum
are paid quarterly.
Cleveland tc Marietta.—Owns from Marietta, O., to Canal
Dover, and liranch, 97 miles, and 8 miles. Valley Junction to Canal
Dover, lease<l. The road was foreclo.Hcd for the second time in May,
1886, and r««)rganizcd. Stock, $$2,000.000—par $100; car trusts, June
30, 1892, $180,779. From July 1, 1892, to Aug. 31, 1892 (2 luonths),
gross earnings were $53,480, against $5:i,765
1891 net, $8,788,
against $1 1,m40. In 1890-91 gross $362,594, net $90,405. In 1891-92
interest, $45,606
gross $337,077 ; net, $79,320
rentals, $5,733 ;
balance, surplus, .$27,981. A. T. WikolT, Prosideut. Cambridge, O.
Cleveland &. PlttsbnrB.—C.Se« Mctp Pennsylttania Railroad.)
Cleveland, O., to Uoehester, Pa., 124 miles; branches— Bayard, O., to new
m
;
;
;
ColumbuM Horking Valley tc Toledo,— (lV«« Jfap.)—Owia
line from I'omcroy, O., U> Walbridge, O., 250 miles, with trsckam
(Northwest Ohio) Walbridge to Toledo, 6 miles; branches— Logan to
Athens, 26 miles Logan to New Straitsville, 13 miles; Monday Creek
Junction to Nelsonville, 17 miles; others, 15 miles; total, 326 miles.
History, &c.— A consolidation in July, 1881, of the Cohmibiu A
Hocking Valley, Columbus & Toledo and Ohio & West Virginia. The
capital stock of $1,500,000 of the Hocking Coal A RR. Co., controlling
10,0(K) acres of coal lands, was purchasedin 1881 for $8,000,000
The
company's guaranty of Interest on the Toledo A Ohio Central 1st
mortgage was claimed to be void in September, 1891, by public uuuoo
.
j j. "uu notloo
to the T.& O. C. See V. 53, p. 436.
Stocks.- In Dec., 1891, $2,500,000 pref. 5 per cent stock, non-onmalative, was authorized, $2,000,000 being sold to old stockholders at
50, proceeds to pay $777,000 bonds due January 1, 1892, and some
other oliligations, leaving $500,000 of tlie stock in the treasury This
would makes all flxed charges for 1892 about $1,023,000. 1116 preferred stock is redeemable at the option of the oompanv at par at any
time after three years from its date of Issue. The llrst dividend, 2's p«icent, was paid on the preferred in July, 18C2. See application to N. Y.
Stock Exchange in full in V. 54, p. 44(>.
Dividends.— On common stock since 1881 In 1883, 2«s per cent: in
1885,1338 in stock; none since. Dividends on preferred: In 1893aL
July, 21? per cent.
main
;
:
Price of Common Stock.- In 1885, 18943; in 1886, 26''n®45io: to,
1887, 15*39%; in 1888, 17®36%; in 1889, 11®28'4; in 1890. 18>«»
329i ; in 1891, 22 a34% in 1892, to Nov. 18, inclu.sive. 2778®40.
Bonds Of the consolidated mortgage $6,500,000 was reserved t»
meet the prior liens; the •' Hocking Coal A. Railroad" joined in makinf
these bonds. The Central Tiiist Company is trustee. The general mor&
gage of 1884 for $2,000,000 covers the road, and Is also a mortgage on
the coal property of the "Hocking Coal A Railroad Company.'" whoso
stock is owned l)y tlie Columbus Hocking Valley & Toledo.
Company owns equipmeut costing over $4,000,000; car trusts, «531 »
,536. due 1892 tii 1897, interest 6 anl 7 iier cent, ami car trusts ex;
—
teuded .$336,027.
SUPPLEMENT.
INYESTORS'
46
"
M ;/^Corbu8
">^^^^r s'N^onroe
Y
Grosvenor
MAP OF THE
[Vol. LV.
Jc!
.i--
—
..COLUMBUS,
HOCKING VALLEY
AND
TOLEDO
R'Y
Tofitrffrany
\lpei8b
Gran^'Kaplds/
BoVlingl
/Green 1
-1—Si:
oni
Bradnet
^y
'
'/Defia
HoliStST"^--^
^
/rainhamlia
'oreenSprlng
JDeshler
*/%^
SSTOiRI,
Panldlngb
*ac(4
'-'V/^^%>,
'"'«««,
-atty
^hlcago Jc
01
yi^{sv London
Stua'^^'
Brfrwick
-i/
(Glandoi-f
(Ottawa
Scott
'
Van Wert
Medina
Republic
Tiffi
o\*®
ColumbUb/
Grove/
Fijjilay^
t/>
M
S^
/
>a^t. Stephen
3^reenwich
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COLUMBUS SHORT LINE
RAILWAYS.
",
Enterprise"
COLUMBUS, SHAWNEE & HOCKING
ft
IP4'i''.-;',
o
MAP OF THE
SANDUSKY
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INVESTOKS' SUPFLEMKNT.
48
Sabscribera
nrlll
confer a great favor by giving Immediate notice of any error dloaovered in these Tables.
BAILROADS.
INTEREST FOR DIVIDENDS.
When Where Payable, and
of
Par
For explanation of ooliunn headings, Ac, see notes of
Road. Bonds Value.
on llrst page of tables.
Columbus Hocking YcUley d Toledo— ( Ooneluded)—
OMo & West Va. Istmort. (Logan to Pomeroy)..c*
c*
Consol. mortgage (for $14,500,000), gold
Qen. mort.,gold,on road & Ilocklug Coal& RR.Co.o
Oolum. Shaw. <t Hock.— Stock ($2,000,000 Is pref.).
0*
Ist mortgage for $5,000,000, gold
Equlpm't M., sub. to call after '96, ($1,000,000) g..
c*
ZanesriUeTerm'l Co. Ist m. for $500,000, gold.
Sandusky & Columbu.s Short Line— Ist M., gold.c*
Columbus Southern.— iBtmtge., $12,500 p.m. gold.
Columbus A XeKia— Stock, S'^b per cent rental
Oonconl <« Claremont (N. .ff.>— Ist mortgage
Concord a Montreal— Stoci, Class I. (B. C. & M. pf.)
Stock. Class II (B. C. & M. new)
Stock, Class II I. (B. C. & M. old stock)
Stock, Class IV. (ConcorK) $6,000,000 auth'zed..
Bost. Con. & Men. cons. mort. ($475,300 are 68).c
c
Improvement mortgage
Concord &Montrealcon8ol.mort.for$5 ,500,000.0*
stock, 5-6 p. c.ren'l,99yr8.c*
Ootm. it Possum.— Fret,
1st mortgage (White Riv. June, to Canada line) c*
Massawippi sfk, guar.same div. as Conn. & Pass.
Newport & Richford Ist mort. guar, by C. &. P.c*
Concord <t Porte.— Stock, 7 p.c. rn'l, 99 yrs. Conc'd.
Connecticut ijtjier— Stock ($2,670,000 authorized)
c
Connecting (Phila.)—lBt mortgage, endorsed
Cornwall t£ Lcbano^i. Stock
.
—
New
Ist
mortgage for $800,000
r
85
325
325
1880
1881
1884
110
110
4
110
88
55
71
1890
1891
1890
....
1891
1889
166
166
262
ii6
37
22
47
80
7
24
24
24
1873 200 <feo.
1881
1,000
1,000
1890
100
1873 100 Ac.
..
100
1881
1,000
100
100
1864
1,000
50
1882-9 100 &c.
1891 100 &0.
Total disbursements. .$1,034,982 $1,035,428 $1,040,113 $1,062,793
8r.$215,451 8r.$599 sr.*$300,232sr.$393,132
• Of this amount $117,211 was spent for additions, improvements,
io., and $174,635 for equipment, leaving a surplus of $103,574.
t Includes car trust interest.
—(V. 53, p. 436, 568, 712, 754 V. 54, p. 442, 444, 446, 845, 887 V.
Balance
;
;
55, p. 589.)
Hocking.— (*« Jfa».>—Line of
road,
O., easterly to Zanesville and southerly to Glouster, Shawnee
and Shawnee Junction, with branches; total, 161 miles, of which
110 miles are owned and 51 miles leased. Will be operated in close
connection with the Sandusky & Columbus Short Line, which wiU be
completed in 1892 from Columbus, O., to Sandusky, O., 110 miles.
History.—Formed in November, 1889, by consolidation of the Colimibus & Eastern (foreclosed in 1S88) and the Shawnee & Muskingum River
Railroad. The Sandusky & Columbus Short Line is controlled iu the
Columbus,
& Hocking.
(54, p. 486.)
(half preferred);
outstanding, $4,-
000,000.
M~?'i°''i
^'."".'if
Dividend.
6&7
6
4
J.
J.
5 per an. F.
7
5 per
5
4 per
8 per
6
4 per
5
5
A.
an. F.
J.
<Se
N.
<t
A
&
&
&
&
&
&
&
&
Concord, Co.'s office.
do
do
Nov.
Oct.
1,
1,
1892-
189Z
Nov. 1, 1892
N. Concord, Co.'s office.
O. B'ston, Faneull Hall B'k Apr. 1, 1893
do
Jan. 1, 19U
J.
do
D. Boston SafeD. A Tr.Co. June 1, 192»
A. Boston, S. Dep. & Tr. Co. Aug. 1, 1892
do
do
Apr. 1, 1893
O.
do
do
Aug. 1. 1892
A.
do
do
Jan. 1, 1911
J.
Bost&Manchester, N.H July 1, 1892
Sprlngfleld, Mass.
Oct. 1. 1892
M.15 &S. Phlla,, Pcnn. RR. Office. 1900-'l-'2-'3-'4
an. J. & J. Co.'s off., Lebanon, Pa.
(1)
July 1, 1902
do
do
J. & J.
do
Apr. 1, 1921
do
A. <fe O.
an. J.
J.
an. Q.-J.
8tock,N.H., 21 miles; Manchester
A North WeareRR., 9 mile-s; Nashua
Acton A Boston RR., Nashua to Concord, 24 miles; total leased, 13©
miles. Operates lines to Belmont, Jefferson, Altos Bay, etc., 50 miles;
I9 Interest in Man. A Keene, 30 miles.
Total operated. 425 mlleB>
There are some short extensions not here Included. The extension to
Berlin Falls is to be completed in 1892.
Organization.—The Concord and the Boston Concord A Montreal
railroads were consolidated in September. 1889, forming this company,,
but the constituent companies retain a nominal existence to preserve
Since the consolidation extensive
the legality of certain leases.
improvements have been made, costing $1,356,629 prior to July 1,.
1892, of which $487,507 charged to expense account.
Stock.—The Boston Concord A Montreal preferred (Class I) is entitled
to 6 per cent yearly; the Boston Concord A Montreal new stock (ClassII., and old stock (Class III, amounting to $459,600) are entitled to
not exceeding 6 per cent yearly out of any saving which may result
from the refunding of the present funded and floating debt of the Boston
Concord A Montreal. The Concord stock (Class IV.) will receive such
dividends as may be declared after providing for the dividends on Class I.
Class IV. stock for $1,200,000 is to be issued, payments to be
made 20 per cent by Nov. 5, 1892, and 80 per cent March 23, 1893.
Certiflcates of stock dated May 1, 1893, and entitled to all subsequent
dividends wiU be issued upon payment in full. See V. 55. p. 421.
Class IV. is the only cla.ss of stock that can be increased, and of this
the total amount authorized by A ct of Legislature is $6,000,000.
Dividends.— In 1890, on class I. and class IV., 6 per cent; in 1891. 6;
In 1892. May, 3; Nov., 3 p. c. On Class II. Dec., 1891, 2 per ct.; in
1892, Oct., 3 p. ct.
^
^
.
^
The consolidated mortgage was authorized to fund
Bonds,
the floating debt (amounting to $1,592,000 June 30, 1892), to provide
for retirement of prior bonds when due. and for improvements. In year
In addition to the consol*
1891-92 $747,000 consol. 4s were sold.
given above as outstanding there were July 1, 1892, $336,000 pledged
The Manchester A Lawrence has Instituted suit to
as collateral.
recover $1,000,000 claimed to be due from the Concord Railroad.
Report for 1891-92 was in V. 55, p. 678. For flfcal year ending
June 30, 1892, gross earnings $2,369,499; net, $7'.;7,940i taxes^
$102,426; rentals, $73,564 interest, $308,898; dividends. $2^8,808 ^
balance, surplus, $4,244. In 1890-91 gross $2,471,698. (V. 53, p. 60*,.
793; V. 54, p. 845; V. 55, p. 373, 421, 6T8.)
Portsmouth.—Owns from Portsmouth, N. H., to
Concord
Manchester, N. H., 401^ miles, and branch to Suncook, 7 miles. Theroad was sold to flrst mortgage boudholders In 1857, and leased to Concord Railroad in 1862 for 99 years. Lea.se rental is $25,000 a year^
which gives 7 per cent a year to present stockholders.
.
Ac—
;
Metropolitan Trust Company) is for
$5,000,000, of which $1,500,000 is reserved for extensions at $30,000
The equipment bonds
per mile of road completed and equipped.
are a first lien on equipment, a second lien on the road, and cover
$210,000 of the company's first mortgage 5s, which can only be sold
for new equipment to be made subject to the equipment bonds. The
Bonds.— First mortgage
(trustee.
Zanesville Terminal Railway is leased for 99 years, and its bonds guaranteed as to Interest. This Terminal Company paid a dividend of 2 per
cent in August, 1892. The companies using the Terminal's property
pay $2 00 per loaded car. Car trusts Sept. 1, 1892, about $700,000,
being retired with equipment bonds.
The Sandusky & Columbus Short Line bonds are not guaranteed, but
there is a traffic contract with the C. 8. & H. that it is said assures not
earnings sufficient to pay the interest on the bonds, the business
arising under this contract being reported for 1891 as 661,709 tons
coal, yielding $396,162 in earnings. See V. 54, p. 486. Mortgage is for
$3,000,000, at $20,000 per mile for construction and $5,000 per mile
for equipment. Metropolitan Trust Co., trustee. The Short Line Co's.
Btock is $3,000,000 par, $100.
Earnings.- From July 1 to October 31, 1892 (4 months), gross earnings were $272,092, against $255,284 in 1891. In the fiscal year ending June 30, 1892, gross earnings were $723,647 ; net, $257,160. In
1890-91 gross, $409,540; net, $163,356. (V. 53, p. 604; V. 54, p. 486.)
;
Colnmbns Southern.—Completed in
1890 from Columbus, Oa., on
Central of Georgia Railroad, to Albany, Qa., on Savannah Florida A
Western, 88 miles. Stock, common, $880,000; preferred, $440,000.
Operated by Georgia Midland A Gulf. For six months ending June 30,
1891, gross earnings were $47,584; net, $3,504; interest, $27,487.
President. W. B. Lowe.
Columbus
1,786,200 See
500,000 •
800,000 See text. M.
540,400 See text.
459,600
3,000,000 See text. M.
1,717,300
A.
500,000
2,457,000
2,500,000
1,500,000
400,000
350,000
350,000
2,580,000
991,000
800,000
81,900
718,100
i
by S(ocfcs— Last
& N. N.y.,Atlantlc Trust Co. May 1, 1910'
S.
do
do
Sept 1, 1931
& D.
do
do
June 1, 190«
5 g. J. & J. N. Y., Hatch & Foote. Jan. 1, 1940
6g. A. & O. N. Y., Metroiwl. Tr. Co. Apr. 1, 191«
July 1, 1940
5g. J. & J. See Hatch & Foote.
5g- M. & N. N. Y., Metropol. Tr. Co. Nov. 1, 1941
Feb., 1929
5 g. F & A. N. Y., Central Trust Co.
text. Q.-M. Columbus, O., Treasurer Deo. 10,1892
7
J. & J. Bost., Treasurer's office. Jan. 1, 1894
1,087,.500
100
Whom.
Payable
M.
7
5g. M.
6g. J.
$1,584,000
8,000,000
1,618,000
4,000,000
3,499,693
445,000
450.000
2,825,000
50
1874 500 &0.
100
....
100
....
$1,250,432 $1,036,027 $1,340,347 $1,455,927
Total receipts
on bonds* car trust. $984,020 $997,820 $977,420 $977,420
12,950
160,850
23,758
38,205
Interest on floating debt.
27,204
24,658
24,490
24,525
Int. to Pa. RR.on lease.&c.
Stock.—Authorized, $6,000,000
Cent.
1,000
1,000
1,000
1,000
1,000
Int.
Columbus Shanrnee &
Outstanding Rate Per
$1,000
1,000
1,000
EAKNIN08.— From January 1 to Aug. 31, 1892 (8 months), gross
earnings were $2,139,856, against $2,029,232 in 1891; net, $959,274,
against $943,163.
Annual Report.— Fiscal year ends December 31. Annual meeting
Is held on second Tuesday in January. Statement for 1891 was in
Cbboniclb, V. 54, p. 242, as follows
1889.
1890.
1891
1888.
$2,875,515 $2,496,319 $3,056,752 $3,263,554
Gross earnings
$1,221,853 $1,007,692 $1,308,200 $1,415,556
Net earmngs
28,335
32,147
28,579
40,371
MisceUaneous
Interest of the Col. Shaw.
[Vou LV.
Sprlngfleld
oinnati Chicago
A
Sc
St. Locis.
Cincinnati.—See Cleveland Cm-
&
Connecticut
&
Passunipslc.-Owns from White River Junction,
Line, 110 miles; leases, Massawippi Valley and branch
(Canada), 37 miles; total opei-ated. 147 miles. The Massawippi BR.
stock receives same dividends as the stock of the lessee. The lesseeholds $400,000 Massawippi stock not included in the amount outstanding. From January 1, 1887, this road was leased to the Boston
Lowell for 99 years on a basis to pay Connecticut A Passump^io stock
5 per cent per annum for ten years and 6 percent therealter. Io
October, 1887, the Boston A Lowell, carrying this road, was leased to
Boston A Maine. Stock authorized, $3,000,000; outstanding, as in table.
Dividends since 1880— In 1881, 5 per cent; in 1882 and 1883.6; In
1884, 5^: In 1885 and since at rate of 5 yearly. See rental above.
Connecticut Kiver.—Owns from Sprlngfleld, Mass., to Keeue,
H, 75 miles; branches, 5 miles; total, 80 miles. Consolidated with
Ashuelot Railroad in February, 1890. In February. 1892, the directors voted to increase the capital stock from $2,670,000 to $5,000,000
for double-track, etc. (V. 54, p. 287), but in May, 1892, the bill authorizing the increase was vetoed by the Governor of Massachusetts
on the ground that the new stock ought to be sold at a fair value and
not to stockholders at par. See V. 54, p. 799. Dividends since 1876.
have been at the rate of 2 per cent quarterly (8 per cent per annum).
Notes payable outstanding June 30. 1892. $876,200.
From July 1, 1892, to Sept. 30, 1892 (3 months), gross earnings wcr&
$332,234, against $308,234; net, 8130,324, against $125,'295; other
income, $19,132. against $11,733 charges. $32,412, against $27,322 ;.
In year ending
balance, surplus, $117,044, against $109,706.
June 30, 1892, gross earnings were $1,161,518, against $1,120,645 in,
1890-91; net income (applicable to dividends), over rentals, interest,.
Ac, $206,044, against $236,400 In 1890-91. (V. 52, p. 239, 718; V. 53,
806.)p. 187, 307, 674r V. 54, p. 202, 287, 762, 799; V. 55, p. 256, 461,
Vt., to
Canada
A
N
Columbus & Xenla.—Owns from Columbus, Ohio, to Xenia, Ohio,
65 miles. Operated as a division of the Little Miami, and is leased for
99 years from December, 1869, in connection with tliat road, to tlie Pittsburg Cincinnati Chicago & St. Louis, which pays 8 per cent on stock.
The lease is guaranteed by tlie Pennsylvania Railroad Company. The
Columbus A Xenia pays 8^5 per cent dividend per annum, 21b per cent
Conneeting (Philadelphia).—Owns from Mantua Junction toUarch 10 and September 10 and 2 per cent June 10 and December 10.
total mileage including 2d, 3d, 4tll
Franktord
Concord & Claremont (IV. H.),—Owns from Concord to Clare- tracks and Junction, Pa., 7 miles;
sidings, 43 miles. Leased to Philadelphia A Trenton for
mont, N. H., 56 miles; branch, Contoocookvllle to Hillsborough, N. H.,
that road operated by Pennsylvania Railroad..
15 miles; leases— Peterboro A Hillsboro Railroad, 18 miles; total oper- 999 years, and with
Rental $139,993, which pays 6 per cent on $1,277,700 capital stock,
ated, 89 miles. Controlled by Boston A Maine, which, with the Boston
by Pennsylvania Railroad.
A Lowell, euarautees interest on the bonds under lease of Northern RR. (par $50)—owned Ijcbanon.—Owns from Lebanon, Pa., to Conewago,.
Corn^vall &
Stock, $412,100.
year ending June 30, 1891, gross earnConcord & Montreal.— Owns from Nashua, N. H., via Concord, 22 miles branches, 2 miles. In
surplus over expenses and charges, $36,538,.
toWoodsvllle (near Wells River Junction), 128 miles; Woodsville to ings were $241,231; 1889-90 gross, $234,021. There are oar trust 68..
dividend,$28,000. In
Qroveton Junction, 53 miles Wingroad to Mt. Wasliington, 20 miles
Philadelphia by Penn. Co. for Ins., etc. In 1891
Hookset branch, 3 miles total owned, 204 miles. Leases Concord A A A O., payable at $800,000 (trustee C. Henry and W. S. Huber), was.
for
Portsmouth RR. Manchester to Portsmouth, N. H. 41 miles, and branch the mortgage up old bonds and floating debt.
take
o Suncook, 7 miles Suncook Valley RR., 18 miles; Suncook Valley Ex- Issued to
Coshocton & Southern.—See Clevbland Canton A Sodthebn..
ension, 4 miles; Pemigewasset Valley RR., Plymouth to North Wood;
;
;
;
.
,
;
—
o
'
NOTEMBER,
EAILKOAD STOCKS AND BONDS.
1893,J
MAP OF THE
Q
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INVESTORS' SUPPLEMENT.
LV,
[Vol.
Subscribers will confer a great favor by glvlns Immediate notice of any error discovered In tliese Tables.
RAILROADS.
For explanation of column headings,
on first page of tables.
Miles
of
of
29
57
"52
37
36
36
<t Clear/. Co. <6N. T. Short Boute—lst M., g.
Oumberland dt Pennsylvania— Istinort. gold, guar.
Cumberland FaHej/— Stock ($484,900 Is preferred)
Ist and 2d morts., (2d $109,500 due April, 1908).
Danburu rf JVor.— Stock, 5 p. c. gu. 99 years
c*
Consolidated mortgage ($100,000 are 68)
c*
General mortgage
Oresaon
Danville <e East Terns.— Ist M., $25,000 p. m., gold.
Danville d Western— See Richmond & Danville...
Dayton <f- Mich.— Cora. stock (S^a p.c. guar. C.H.&D.)
Preferred stock (8 per cent guar. C. H. & D.)
Ist mort., guar, prlnc'l
& interest by C.
H.
Date
INTEREST OR DIVIDENDS.
Size, or
Bojirfs— Pr/nol-
Amount
Rate Per When Where Payable, and by
Road. Bonds Value. Outstanding
Cent.
Payable
Whom.
&c., see notes
& D.c
142
c
Toledo Depot, 2a mortgage
Dayton A Fjmoji— Istmort., sink, fund (notdrawn)o
r
Income mortgage bonds, sinking fund
Dayton it Western— let M., guar. L. M. and C. & X.o
Dee.Chesap. <t New Orl.—lA M., $20,000 p. m.,g.c*
Detoware— Stock— 6 p. c. guar. tiU 1898, P.W.&B....
Mortgage bonds, convertible, guar., P. W. & B.c*
c*
General mortgage for $2,000,000, gold
Del. <« Bound £r.— Stock— 8 p. c. gu. Phlla. & Bead.
mortgage
1st
1st mort. on Trenton Br., 2d mort. on main line.
Delaware it Hudson Oanal-Btocli
c*
Debentures secured by Penn. Division bonds
Ist mort. on Pennsylvania Div. ($10,000,000) c*r
Schenectady & Duan. Istmortgage, Interest guar.
Adirondack Ry. Ist M. $2,000,000, gold, gu. p. & 1.
Bluff Point Land Improve. Co. Ist M.,gold,guar.c*
Delaware Lackawanna <t fres(er«^-8tock
Consol. mort. on roads & equlpm'nt ($10,000,000)
"32
32
37
ibo
85
117
"27
4
. . .
14
57
288
1884
1891
Par
M. & N. N. Y., Morton, Bliss.
$750,000
1,000,000
M. &. N. N.Y.,Consol. Coal Office.
1,777,850 8 per an. Q.-J. Phlla., T. A. Biddle & Co.
$500<!fcc.
1,000
50
500 &0.
50
1880
1883
1891
1871
1881
1864
1879
1879
1864
1889
& O.
& A.
& J.
& O.
5g. J. & J.
31a p. an. A. & O.
8 per an. Q.-J.
5
J. & J
M. & S.
7
7
J. & D.
6
J. & D.
270,500
8
A.
600,000 5 per an. F.
500,000
5 &6
J.
150,000
5
A.
1,000
100
1,000
<»)
50
50
2,403,243
1,211,250
2,675,000
53,000
225,000
90,000
1,000
i',6bo
1,000
1,000
1,000
6&7
495,000
1875 500 &c.
1892
1,000
100
1875
1,000
1879
1,000
100
1874
1,000
1877 l,000&o
1874 100 &c.
1892
1,000
1890
1,000
50
1877
do
do
2,157,832
573,500
500,000
1,800,000
1,500,000
300,000
30,000,000
4,829,000
5,000,000
500,000
1,000,000
300,000
26,200,000
3,067,000
do
New York Agency.
7
Cincinnati.
6
7 per an.
7
7
6
4i2g.
^^
n per an.
7
7
& A
M. & N.
Q—Mch,
A. & O.
M. & S.
M. & S,
M. & 8,
J. & J.
Q.-J.
M. & S,
May
May
1904
1921
1892
1,
1,
July,
1, 1904-8
Aug. 15, 1892
July 1, 1920
Apr. 1, 1926
July 1, 1921
1892
1892
1911
Mch.
1894
Dec.
1909
After 1910
Jan. 1, 1905
July 1, 1921
July, 1892
July 1, 1895
July 1, 1932
Nov. 17, 1892
Aug. 1, 1906
Nov. 1, 1899
Dec. 15, 1892
Oct. 1, 1894
Sept. 1, 1917
Sept. 1, 1924
m5j. 1, 1942
do
Oct.
Oct.
Jan.
1,
2,
1,
1,
1,
Jan.
1,
do
N.Y.,
do
Am. Exch.Nat.Bk.
Bank of America.
Dover, Co.'s Office.
PhU.,Fld. LT. .feS.D.Co.
F.
Dividend.
N.Y., Kessler <fe Co.; Cln.
N. Y.,
6 per an. J. &
6
J.
4l2g.
&
8 per an. Q.
S(ocfc«—Last
Apr.
Bridgeport, Hous. RR.
"do
do
6g.
(1)
25
do
pal,When Due.
Philadelphia.
240 So. Third St.
Phila.,Guar.T.&S.D.Co.
Plilla.,Of.,240So.3dSt
N.Y.Of .,21 Cortlandt St.
Phlla.,
do
do
do
do
do
do
do
do
do
do
N. Y., 26 Exchange
do
do
PI.
Oct. 20,
Sept. 1,
1940
1892
1907
Cresson & Clearfield County ^k New York Short Route.— road Company—the lessee paying interest and 8 per cent on stock after
Owns from Cresson, Pa., to Irvona, Pa., 27 miles, and branch to Rich- May, 1883. Rental in 1891, $275,000. Gross earnings in 1891, $1,025,-
par, $50. Car trusts due
land Mines, 2 miles. Stock, $1,000,000
Feb. 1, 1900, $90,000. In 1890-91 gross earnings were $119,684; net,
$59,427; surplus above interest, $14,427; paid to sink, fund, $10,000.
Pennsylvania.— Owns from Cmnberland, Md.,
Cumberland
to Piedmont, Md., and several branches, 57 miles. It is owned and
operated by Consolidation Coal Company, which guarantees by endorsement the new first mortgage bonds. See V 52, p. 390. Stock,
$1,500,000; par, $100. (V. 52, p. 390.)
Cumberland Valley.—Owns from Harrlsburg, Pa., to Potomac
River, Md., 82 miles (and with leased lines operates to Winchester, a
total distance of 116 miles). It leases— Cumberland Valley & Martinsburg Railroad, 34 miles; Dlllsburg & Meohanicsburg Railroad, 9 miles;
Southern Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad,
18 miles, but accounts are kept separate; total operated, 165 miles.
STOCK.— The stock is $1,292,950 common, $241,900 first preferred
and $243,000 second preferred, $975,800 common and $237,200 preferred being owned by Pennsylvania Railroad Company. Large advances
have been made to branch roads. The Southern Pennsylvania is leased
for net earnings; no interest paid on bonds since March, 1875.
Dividends. In 1880 to 1884, 10 per cent yearly; from 1885, to
July, 1892, both inclusive, at rate of 8 per cent yearly.
Eaknings.- From January 1 to Sept. 30, 1892 (9 months) gross earnnet, $210,670, against
ings were $700,596, against $729,354 in 1891
$215,593.
In 1891 gross earnings on the main line were $863,298; net, $189,108;
surplus over fixed charges, $155,553, against $219,989 in 1890
;
&
—
,
;
Danbnry it. Jforw^alk.—Owns from Danbury, Conn., to Wilson
Point, South Norwalk, Conn., 26^ miles branches to Rldgefield and
Hawleyville, together, 10 miles total operated, 36^3 miles. Leased to
the Housatonic for 99 years from October. 1886, the lessee to pay interest and 5 per cent per annum on stock. In 1892 a new lease was
made to New York New Haven & Hartford for 99 years from July 1,
1892 at same rental, and stockholders offered an exchange of $100 in
New Haven stock for $200 of Danbury & Norwalk.
Mlclilgan.— Owns Dayton, O., to Toledo, O., 141 miles,
Dayton
and leases Deshler to Pindlay, 11 miles. Leased May 1, 1863, In perpetuity to Cincinnati Hamilton»& Dayton. Lease amended January 23,
1870. The rental is the interest and sinking fund of debt, and 8 per
cent on preferred stock and 3^ per cent on $2,396,750 common.
Guaranty of 8 per cent on preferred is secured bv mortgage. Profit
to lessee in 1885-6, $215,219; in 1886-7, $276,562 in 1887-8, $363,933;
In 1888-9, $348,068; in 1889-90, $379,494. Gross earnings In year
1891 (including Troy A Piqua branch, 8 miles), $1,776,380; net,
$710,611; surplus over interest and dividends, $392,365. Current lia;
;
&
;
bilities
July
Dayton
1,
1891, $833,721.
Union.—Owns
from Dodson,
Dodsdon, 15 miles
O., to
Union
City, Ind..
total operated, 47 miles.
32 miles leases Dayton to
Operated by Cleveland Cincinnati Chicago & St. Louis, which. Jointly
with the Cincinnati Hamilton & Dayton, owns the capital stock. All
surplus earnings over interest goes to a sinking fund for the redemption
of bonds at not above 100. Capital stock $86,300. In year ending
June 30, 1892, gross earnings, $149,994; net, $73,833; surplus over
charges, including interest on Incomes, $39,233; incomes redeemed,
Sc
;
;
$20,000.
Dayton
;
—
—
—
—
Bonds.— On January
&
(V. 52, p. 80; V. 53, p. 58.)
1,
1892, there were loans payable amounting to
The Adirondack Railroad bonds carry the endorsed
.$1,200,000.
guarantee of the D. & H. as to principal and interest; $1,000,000 were
issuable at once and the remainder at $20,000 per mile of completed
railway owned by the company In excess of 50 miles; trustee. U. 8.
Trust Company. See V. 54, p. 486. Earnings of Adirondack Ry. for
1891-92 are in V. 55, p. 588.
The Pennsylvania Division bonds cover coal lands, collieries, railroads, canal, equipment and all other property in Pennsylvania.
Annual Keport.— Fiscal year ends Dec. 31. Annual meeting is held
on the second Tuesday In May. Report for 1891 was in Chronicle,
V. 54, p. 364.
1889.
1888.
Seceipls—
822,300
18,957,593
12,992,868
19,382,907
13,303,234
19,109,303-
5,964,725
3,426,829
6,079,673
3,511,333
5,597,42r
3,393,37T
20,729,180
Operating expenses.. 14,044,710
Total
& rentals..
6,684,470
3,340,336
13,511,776
2,537,896
2,568,340
2,204,050
345, 364, 486, 560, 643, 799.)
liVestern.— CSee Map).— Thia comDelaware Lackawanna
pany operates under lease an extended system of roads in New York
Pennsylvania and New Jersey. Owns from Delaware River (N. J. line),
to New York State Une, 115 mUes; branches—Scranton to Northumberland, 80 miles; branches to Winton, Storrs, Keyser Valley, etc., Pa., 17
miles leased lines in New York— New York Lackawanna & Western.
Railroad, 214 miles; Cayuga & Susquehanna Railroad 34 mUes Greene
Railroad, 8 miles Oswego & Syracuse Railroad, 35 mUes Utica Chenango & Susquehanna Valley Railroad, 97 mUes Valley RaUroad, 12
miles; controls and operates— Syracuse Binghamton ife New York, 81
miles leased lines in New Jersey— Chester Railroad, 10 miles Morns <b
Essex, 120 miles Newark & Bloomfield, 4 mUes Warren Railroad, 18
miles; Sussex, 30 miles; Passaic & Delaware and extension, 22 miles;
Balance for stock, 3,344,134
319, 761 V. 54,
(V. 52, p. 202,
;
p.
&
;
;
;
;
;
;
;
Delaware,—Owns from Delaware Junction(PhiladelphiaWUmlngton
$
8,335,010
10,062,324
711,869
8,652,318
9,482,975
taxes
1891.
$
7,800,207
10,670,732
911,968
10,622,067
9,554,221
552,892
FrommlsceUaneous..
Net
1890.
$
$
From coal
PromraUroads
Int.,
Sc
net, $520,648.
Delaware & H udso n— ("See Jfap.;—Owns canal from Rondout, N. Y.
to Hone8dale,Pa., 108 miles; completed in 1828. Also owns the following railroads, viz.: Lackawanna »fe Susquehanna Nineveh, N. Y., to .lefferson Junction, Pa., 22 mUes; Valley RR.—Carbondale to Scranton, Pa., 17
miles; Gravity RR. (4feet3inchgauge)— 01yphanttoHone8dale,56miles
Schenectady & Mechanicville— East Glenvllle to Coons, N. Y., 10 miles
Cherry VaUey Sharon & Albany— Cob blcsklU to Cherry Valley, N. Y., 21
miles; Schenectady & Duanesburg Schenectady to Duanesburg, 14
miles; Adirondack RR.. 57 miles; total owned, 197 milea.
Leases: Albany & Susquehanna Albany to Binghamton, 142 miles;
New York & Canada— WhitehaU, N. Y., to Rouse's Point, N. Y., 113
miles, and branches, 37 miles; Rensselaer & Saratoga and leased linesAlbany, N. Y., to Lake Champlaln, N. Y., and branches, 192 mUes
Utica Clinton & Binghamton and Rome & Clinton, sublet to New York
Ontario & Western, 44 mUes; Union Railroad— Green Ridge to Wilkesbarre. Pa., 20 miles; other lines, 4 miles, and Jefferson Railroad (trackage) Jefferson Junction to Carbondale, 35 miles. Total controlled, 727
miles, but only 686 operated in Delaware & Hudson system.
HisTOKT, Etc.—This company was chartered April 7, 1823. It is
among the largest miners and carriers of anthracite coal. In May, 1892,
certain officers of the N. Y. Central entered the directory. See V. 54,
p. 799. In June, 1889, the Adirondack Railroad (60 miles) was purchased. Of the Rutland BaUroad stock Delaware & Hudson owns $3,000,000 preferred and $1,000,000 common, butthe road is leased to th&
Central RR. of Vermont.
Dividends since 1880: Inl881, 413; in 1882,7; In 1883,7; in 1884,
7; In 1885, 6; in 1886 and 1887, 5; In 1888, 6; in 1889, 1890 and
1891, 7 per cent; for 1892 the rate has been fixed at 7 per cent.
Price of Stock.— In 1883, 102i3®112i8; in 1884, 673114; in 1885,
66i2®100i2; In 1886, 87i4®108'3; In 1887, 96i3®106i3; In 1888, 103»
134; in 1889, 130ai56; in 1890, 120®175; In 1891, 118'4®141i2; In
1892, to Nov. 18, Inclusive. 122T8»149i3.
Western,—Owns from
Dayton, O., to State line, Ind.,
37 miles, and leases 4 miles to Richmond, Ind. Leased from January 1,
1865, for 99 years, renewable forever, to Little Miami, and carried with
that road in the general lease to the Pittsburg Cincinnati Cliicago &
St. Louis. The lessees. Little Miami and Pittsburg Cincinnati Chicago
& St. Louis, are virtual owners and are answerable for all obligations. Of above bonds $32,000 are 7s.
Ne^v Orleans.-Projected from DecaJDecatnr Chesapeake
tur. Ala., to Gallatin or Nash vUle,Tenn., of which 34 miles from Alabama State line northward are completed. In December, 1890, receiver was appointed and sale was to take place Aug. 10, 1891, but
Indefinitely postponed. A compromise with the creditors was proposed
In July, 1891— see plan V. 53, p. 58. Stock authorized, $20,000 per
mile.
021
;
;
ABaltimore), Del., to Delmar (Maryland line), 84 mUes; branches, 33
miles; total operated, 117 miles. Opened 1855-60, and leased for 21 total operated, 900 miles.
years from 1876 to the Pliiladelpliia Wilmington & Baltimore Company,
History, Etc.—This is one of the most important of the anthracite
which owns a largo block of tne stock. Rental, 30 per cent of gross coal roads. It was originally the Ligetts Gap Railroad, chartered
earnings, but stock must have 6 per cent; then any residue goes to In 1849; name changed to Lackawanna & Western in 1851, and then to
lessee for advances (If any), and the balance to lessee and lessor present title in 1853. Its leased linos are mostly held under long
equally. In 1891 the New Castle branches and cut-off were purcha.sed leases, and in several cases are also controlled by ownership of
from the lessee for $416,675 stock and a bond for $500,000. The new stock, so that the system is compact. The more Important of the leased
mortgage for $2,000,000 was authorized to take up present indebted- lines (ire separately described in this Scpi-lement.
ness, for laying second track, ifee. In year ending Oct. 31. 1891, gross
In February, 1892, a considerable interest in the company iiaring
earnings were $1,099,932; net, $363,392; Interest, dividends, etc., been acquired by parties connected with the Philadelphia <fe Reading,
$154,589; surplus, $208,804, against deficit in 1890 of $16,714.
Mr. Maxwell, Vice-President of the Re.iding and President of the CenDelaware Sc Bound Brook.—Owns from Bound Brook (Central tral BR. of New Jersey, was elected to the Vice- Presidency. The result
of New Jersey) to Delaware River, 27 miles branch to Trenton, etc., 7 ot the alliance so effected, it is hoped, will be the maintenance of Tatas
miles. In connection with Central of New Jersey and North Pennsylva- In the coal trade, and consequently increased profits to the coal oomantes. (See Philadelphia &, Beading, and V. 54, p. 366.) The bonds,
nia forms a line between New York and Philadelphia. In May, 1879, the
property was leased for 990 years to the Fhtladeiphla & Reading Rail- S ue June 1, 1892, were pnid in oash.
;
NOVEMBEB,
1893. J
RAILKOAD STOCKS AND BONDS.
91
)
.
89
INVESTOES' SUPPLEMENT.
;
[Vou LV.
Subscribers nriu confer a great favor by giving Immediate notice of anjr error discovered In these Tables.
RAILROADS.
column headings,
on first page of tables.
'For explanation of
—
"Delaware Maryland
Jnnotion
Junction
&
MUes Date
&o., see notes
<i Virginia
Stock
Brealrwator— Ist mortgage to State..
c*
& Breatwatcr 2d mortgage
Breakwater & Frankford let mortgage to State..
of
44
44
19
35
Worcester IIR. Ist. M. (s.f. notinoperat'n) gold.c*
Denver <i Rio Granrfe— Stock, com., ($45,500,000)
Pref stock, 6 per cent non-oum. ($28,000,000)
c*Ar 295
lat moi-tgage, sold, sinking fund
o*Ar 1,610
Consol. mortgaKo (for $42,000,000) gold
.
. .
.
Improvement Mort. ($5,000 per mile) gold. .c*<» 1,610
Moines d Ft. Dodge— IstM., Series A, int. guar.,
88
.
M>e*
Ist mort., Series B, income, interest guaranteed.,
Mortgage on extension, interest guaranteed
Des Moines <£ Kansas City Stock
Ist M. fimding and imp. ($2,000,000), gold..o*&r
Moines No. <t ITe*/.— IstM., g., ($18,500 p.m.)o.
c*
Det Moinet T7nio7i—lat M. for $800,000, gold
Deirmt Bay City dt Alp. 1st mortgage, gold
c*
Detroit Grand Haven it 3fi;.— Ist equip, m. g. gU-.C
Consol. mort. gold, guar, by Gr. Trimk of Can.C
Dttr*H HillsdaU a S. #.—St'k,4 p. c. renfl,L.S.&M8.
Detroit Lansing <« Northern Stock, conmion
—
Du
—
—
Preferred stock
Ionia & Lansing 1st M.,extended in 1889,guar.o'
D. L. A, N. consol. mort. (1st mort.on 167 m.)...o*
8aglnaw & Western Ist mort., gold, endorsed, .o*
Gr. R. L. & D. Ist M., ($20,000p. m.) endorsed. .o'
Size,
INTEREST OR DIVIDENDS.
or
I3on<J»— Princi-
Amount Rate Per When Where Payable, and by
Road. Bonds Value. Oat«tanding
Cent.
Payable
Whom.
of
88
56
112
112
150
3
233
189
189
65
65
222
43
55
pal, When
Par
$25
1860
1879
I'.OOO
1873
1876 506' Ac.
100
100
1871 500 &o.
1886 500 <SM!.
1888
500
1874
1,000
1874
1,000
1881
1,000
100
1892
1,000
1892
1,000
1887
1,000
1883
1,000
1878
1,000
1878 200 &0.
100
100
100
1869
1,000
1877 500 &e.
1883
1,000
1887
1,000
$526,758
185,000
250,000
200,000
400,000
38,000,000
23,650,000
6,382,500
28,435,000
8,050,000
3
2,390,000
811,000
2,500,000
2,000,000
3,200,000
1,350,000
1,825,600
2,510,000
770,000
2,672,000
566,000
1,108,000
J.
4g. A.
J. Phlla.,233
do
do
do
A.
J.
O.
Office,
2»a
5
g.
4
2i«
4
"T'g4to5 g
5g.
6g.
6g.
6g.
.
4 per an
,
47 Wm.
St.,
N.Y. Feb. 16, 1891
Nov. 1, 1900
Jan. 1, 1936
June 1, 1928
Jan. 1, 1905
June 1, 1905
June 1, 1905
<
\
"5
7
6g.
5
Dividend.
So.Fourth St. Jan. 1, 1932
do
Feb., 1899
do
Jan. 1, 1938
April, 1896
do
& N. N. Y. Fourth Nat. Bank.
& J.
do
do
do
J. & D.
do
J. & J. N.Y.,Chio.R.L&Pao.Co.
J. & J
do
do
J. & J.
do
do
Springfield.
J. & J.
J. & J. N. Y., Metropol. Tr. Co.
M. & N. N.Y., Central Trust.
J. & J. N. Y., Farm. L. &Tr. Co.
N.Y.Ag'cyBk. Com.,
A. & O.
A. & O. ( Canada & London.
J. & J. N.Y.,Fann.L. &Tr.Co.
F. & A.
Boston.
P. & A. Boston, Of., 50 State St.
J. & J. Boston, 2a Nat. Bank.
do
do
J. & J
do
J. & J,
do
M. & S.
do
do
7g. M.
4g. J.
1,200,000
1,200,000
672,000
800,000
(1)
F.
3
&
&
&
&
J.
4
Doe,
StocA;«— Last
Jan. 1,
Jan. 1,
Nov. 1,
Jan. 1,
Nov. 14,
Nov. 15,
July 5,
Feb. 15,
Feb. 15,
July 1,
Jan. 1,
July 1,
Bept
1,
1932
1932
1917
1913
1918
1918
1892
1887
1888
1899
1907
1913
1927
ment over previous year. The surplus of $914,113 was appUed to the
reduetion of the floating debt
1890-91.
1888
1889.
1891-92.
.•. $7,668,654
Gross earnings
$8,046,603 i!8,850,921 $8,830,947
Net earnings
$2,563,972 $3,332,410 i!3,340,617 $3,709,354
Interest on bonds
$1,492,615 $1,654,675 $1,944,805 $1,986,675
Taxes and insurance..
345,550
320,068
319,192
362,127
Betterments
240,906
240,000
259,816
240,000
18, inclusive, 138i8®167is.
Miscellaneous
40,551
52,434
118,821
206,439
Eabninqs.— For nine months to Sept. 30, 1892, the leased lines in N.Y.
295,625
t
591,250
NU.
State had surplus over charges of $1,032,780, against $921,390 in Dividend on pf. stock.
1891.
Total
$2,415,247 $2,267,177 $3,233,884 $2,795,241
Annual Report. Fiscal year ends Dec. 31. Annual meeting is held
$106,733
$914,113
$148,725 !$1,065,233
on the Tuesday preceding the last Friday in February. The report for Sorplus
1891 was In Chronicle, V. 54, p. 202.
0. was paid on pref. in Feb., 1890.
t From the surplus ot 1889 IH P1888
1889
1890
1891
-(V. 52. p. 80, 126. 732; V. 53, p. 108, 125, 423, 435 437. 474, 604.
Total gross receipts. $43,232;422 838,247i622 $40,688',645 $41,849)754 673, 674; V. 54, p. 446, 701 V. 55, p. 233, 254, 441, 460, 464, 679.)
Operating expenses. 33,546,135 30,653,586 32,499,859 33,894,519
Denver Texas Fort ^Vorth.—See Union Paq. Denver <& Gulp
Betterments, &o
967,605
223,577
240,019
121,474
Des Moines tc Fort Dodge.—Owns from Des Moines to Fort
Dodge, la., 87 miles, with an extension 56 miles to Ruthven, connecting
Total expenses... $34,613,740 $30,877,163 $32,739,878 $34,016,065
with Chicago Milwaukee & St. Paul. Common stock, $4,283,100; preIf et receipts
7.833.689 ferred, $763,500; par, $100. Leased from Jan. 1, 1887, to the Chicago
8.718.682
7.370,459
7.948,767
Interest and rentals.
5,218,419
5,222,375
5,328,494
5,418,226 Rock Island & Paciflc for 19 years at a rental of 30 per cent of the gross
earnings, with a guarantee of 4 per cent interest on the first mortgage
Balance, surplus
$3,500,263 $2,148,084 $2,620,273 $2,415,463 and extension bonds, and 2% per cent per annum on the Incomes.
Dividends (7 p. 0)... 1,834,000
1,834,000
1,834,000
1,834,000
Des inotnes Kansas City.—Des Moines, la., to Calnsvllle, Mo.,
Balance after divs... $1,666,263
$314,084
$786,273
$581,463 112 miles, 3-foot gauge. Successor to Des Moines Osceola & Southern,
sold in foreclosure in 1887.
Under the mortgage for $2,000,000
-(V. 53, p. 714; V. 54, p. 202, 288, 366, 800 V. 55, p. 257, 806.)
(Massachusetts Safe Deposit Co., trustee), $480,000 bonds are pledged
as collateral for notes given for new equipments, repairs, etc. Under
iffeiatrare maryland
Tlrglnla.— Road extends from Hamng this mortgage the authorized issue is $8,000 per mile on narrow gauge,
.onto Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54 $16,000 per mile on broad gauge road. V. 55, p. 297. In year ending
miles; total, 98 miles. In July, 1885, the company passed into control June30, 1892, gro88earningawere.$118,357; net, $3,232. The capital
If the Philadelphia Wilmington & Baltimore Railroad, and became part stock is held by the President, M.
V. B. Edgerly, of Springfield, Mass.,
of the Pennsylvania Railroad system. In 1891 the mortgages to the as Trustee. (V. 55, p. 297.)
State were extended at 3 per cent for 40 years, but redeemable at comMoines Northern Sc TFestern.—Owns from Des Moines to
Des
pany's option after January 1, 1895. See V. 50, p. 498. In 1890-91
Fonda, Iowa, 115 miles, and from Clive (7 miles from Des Moines) to
«ro8S earns., $208,281 net, $29,583; deficit, $30,675.— (V. 52, p. 498.
Boone, 35 miles; total, 150 miles. A consolidation of January 1, 1892,
Denver
Rio Grande.— CSe« Map) Owns from Denver City, of the Des Moines <fe Northern and the Des Moines & Northwestern.
The bonds bear 4
<5ol., via Pueblo, Salida, Guuni.son, Montrose and Grand Junction, to The whole line has been made standard gauge.
the western boundary of Colorado, where it connects with the Rio per cent interest till January 1, 1897; thereafter 5 per cent. Mortgage
Grande Western to Salt Lake City and Ogden. Branches run to Lead- trustee Is the Metropolitan Trust Company of New York. Stock
vUle, DUlon, Rifle Creek, Crested Butte, Silver Cliff, Chaffee, Aspen, authorized, $15,000,000; outstanding, $4,200,000; par, $100. From
Ouray and Hot Springs also from Pueblo to Silverton, via Cuchara, January 1 to June 30, 1892 (6 months), gross earnings were $190,945,
Alamosa and Dnrango, with branches to El Trinidad, Espanola, Del against $148,320 in 1891; net, $83,488, against $50,184. President,
Norte and Wagon Wheel Gap, etc; total June 30, 1892 (including F. M. HubbeO, Des Moines, la. (V. 53, p. 256.)
Klo Grande Junction etc., 72 miles, leased), 1,687 miles. The stanDes Moines Union.— A terinlnal road, 2'7ip miles in length, in
dard gauge and road with third rail embraces a considerable part of the Des Moines. Controlled by Des Moines Northern & Western— which see.
mileage. There is a through standard gauge route between Denver and The rentals and wheelage are in excessof fixed charges. Stock authorOgden over this road, the Rio Grande Junction (which see) and the ized, $2,000,000; outstanding, $400,000— par $100. Due on real estate
Kio Grande Western. The Rio Grande Southern road was completed in Sept., 1892, $56,775.
January, 1892. See V. 53, p. 674.
Detroit Bay City Sc Alpena.—Owns from Alger, on Michigan
History.—The former Denver & Rio Grande Rallicay, incorporated Central Railroad, to Alpena, 105 miles; Loon Lake Branch, 26 miles;
In 1870, was foreclosed July 12. 1886, and reorganized as the Denver Mud Lake Branch, 18 miles; other branches, 60 miles; total road, 209
& Rio Grande Railroad. The Rio Grande Junction Railway is leased miles. Has a tnitnc contract with Michigan CJential. Stock authorized
lolntly by this company and the Colorado Midland, and its bonds guar- Is $2,000,000; Issued, $1,670,000; par, $100. A dividend of 4 per cent
anteed.
was paid January 3, 1888, and of 2ia per cent February 10, 1891; In
Dividends.- On preferred stock: In 1887, 212 per ot.; in 1888, 2>3 per 1892 nil (prior to June 20.)
From Jan. 1 to Sept. 30 (9 months), in 1892 gross earnings were
cent in cash and IH in scrip, subsequently redeemed in cash; n 1889,
5272,251, against $346,509 In 1S91; net, $85,858. against $128,099.
oil; -February, 1890, 114; August, 1^; in 1891, February,
;>fl; in
In 1890 gross earnings, $523,037; net, $217,394; interest, $150,000;
August and since, nil.- See V. 55, p. 805.
dividend
In 1891 gross,
$41,750; surplus,
Price OF Stock.—Common: In 1886, 14^' 35% (assessment paid); in $417,674; (2% per cent), interest on bonds, $25,644. deficit, $17,180.
net, $132,819;
$150,000;
1887, 20i3a>32%; iu 1888, 15®23; in 1889, li^ailSia; in 1890, 14%®
(V. 50, p. 174, 735; V. 51, p. 113; V. 52, p. 320.)
21V. in 1891, 13i4®21;in 1892 to Nov. 18, inc.usive, l.'iaigia.
Detroit Grand Haven
MIlTvaakee.—Owns from Detroit,
Price of preferred stock: Iu 1886, 53%63''8; in 1887, 52'8»683S, In
1888, 10®55%; in 1889, i2\i-a>52''s in 1890, 45®61i3; in 18.- 1, Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of the
Detroit & Milwaukee, which was sold in foreclosure September, 1878.
40®63''8; In 1892, to Nov. 18, inclusive, 45®54%.
bonds are guaranteed by the Grand Trunk of Canada. Stock,
BONDS.—Of the consolidated gold bonds (United States Trust Com- The
$1,500,000 par, $50. Real estate mortgages, $226,000.
pany, trustee) $0,382,500 were reserved to retire the prior bonds when
From January 1 to Sept. 30, 1892 (9 months), gross earnings were
due, and $6,900,000 to acquire a line to Ogden. Those unissued may «1S6,501, against £181,158 In 1891; net, £42,199, against £47,033.
be used with the consent of a ms^jority of the preferred stock for ex- Gross earnings in 1891, $1,195,862; net, $301,906; deficit under interest,
tensions ac not exceeding $20,000 per mile. See abstract of mort- $56,816 against $82,205 in 1890)— paid by Grand Trunk Railway Co.
gage in Chronicle, V. 47, p. 228.
Detroit Hillsdale & Sontbwestcrn.—Owns from YpsllantI,
Uaited States Trust Co., New York, is trustee of the Improvement
Mich,, to Bankers, Mich., 65 miles. The D(jtroit Hillsdale A Indiana
mortgage of 1888. Mortgage abstract in Chronicle, V. 47, p. 229.
road was sold in foreclosure Jan. 28, 1875, and this company organized
Floatino Debt.— Total current liabilities July 1, 1892, were $2,- by the bondholders. Leased in perpetuity from July 1, 1881, to the Lake
719,422, against $3,968,097 July 1, 1891; total current assets $3,163,- Bhore&MichiganSouthemCo.; the rental is $54,OOOper year—4 per cent.
355. against $3,638,462. The current liabilities in 1892 included
Northern.— Owns from Grand Trunk JunoDetroit I.anslng
$715,000 loans payable. In October, 1892, the •' unfunded debt" had
tion, Mich., to Howard City, Mich., 157 miles; branches Stanton Juncbeen reduced to about $160,000. See V. 55, p. 464, 679.
tion to Big Rapids, Mich., 63 miles; Belding Branch, 1% miles; total
Latest Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months), owned, 222 miles. Leases Grand Truuk Junction to Detroit, 3 miles
fross $2,541,724, against $2,359,972 in 1891 net, $1,102,877, against Lansing to North Lansing, 1 mile Saginaw & Western RR.— Alma to
975,587; interest, rentals, etc., $682,714; balance, surplus, including Howard City, 43 miles Grand Rapids Lansing & Detroit Railroad—
miscellaneous income, $139,013.
Gr^nd Rapids to Grand Ledge, 53 mUes, and branch, 2 miles; total, 323
Annual Report.— Fiscal year now ends Jime 30. Annual meeting mil^s; also operates Saginaw V<aUey & St. Louis, 45 mUes, and pays
is held at Denver the third Tuesday in October. Full report for interest on its debt, but reports earnings separately. The Detroit Lansyear 1891-92 was ill V. 55, p. 441, 460. 464, showing a decided fmprove- ing & Lake Michigan was foreclosed in 1876 and this company formed.
Dividends.—Formerly paid 10 per cent, but in the dull times 1876 to
1880 no dividends were paid; in 1880 3 per cent was paid; la 1881, 6%;
In 1882, 1883 and 1884, 8; in 1885, 7%; from 1886 to October, 1892,
both inclusive, at rate of 7 per cent per annum.
Price of Stock.—In 1884, 86%ail33i9; in 1885, 82=8329=8; in 1886,
115®144; in 1887. 113J8®139i2; in 1888, 123>3»145i8; in 1889, 134=8
®151; in 1890, 12338® 14912; in 1891, 13038®145=8; in 1892, to Nov.
—
;
&
&
;
&
;
—
&
;
,
—
&
;
;
&
—
:
;
;
;
NOVBUBEB,
RAILROAD STOCKS AND BONDS.
1892.J
S3
DENVER/
Gearga<awn
^o
FRISCO
BRECKENRIOQE
Beat
Mitcin-Tri?
^.^
Tonness*'*'
PnssUo
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rt
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rfTO/^T--iBod«Spr£ JrM*'-TA
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loranite
ittlcr
oS""""
A-^* \f*
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Gothic^
Bote
Ajilfvrariie
Mints
Coal
ifCRESTEO
Abutte
"
.^•<'*<'
«ftv>«r
r
SPRINGS
w^^i'^r"
^Alniout
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Ouray's Rancb'^j^/y
L>'''
A.
sP
UnconiptfligTe o'
WEST
f>
pmceiviilo
CLIFF^,? oKoeita
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VA>*CE
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FarHdiix
Pt.Lewls'
Porter
San Luis
bPagosi Springs
.
bURANGO'
fANTC
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Vblcaap
tfa
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isenlUeta
Femiuidei
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Sprlnsreri
ESPANOLA
3Iorao\
tjSANTA PEj
Hot Sp: In^ o
1
Miguel
^J
BTegms
Sernal
MAP OP THE
DENVER & KIO GRANDE
RAILROAD
Xacro
(l£
I<M
Fo8u»
%_
.
:
INVESTORS' SUPPLEMENT.
04
[Vol, LV.
confer a great favor by giving Immediate notice of any error dlHeovered In these Tables.
Bo wf/*— PrinciINTEREST OR DIVIDENDS.
Miles Date Size, or
Amonnt Rate pen When Where Payable, and l)y pal, When Due.
Par
of
headings, i&c, see notes
of
Stocks— Last
For explanation of column
Outstanding CAnt.
Pn.vuhlA
Wlintii
Cent.
Road. Bonds Value.
Payable
Whom.
Dividend.
on flrsfpasce of tables.
Sabscribers
\rIII
EAILROAD8.
524
43
143
184
197
116
.
—
Didiitli
South Shore
$100 $8,000,000 See text.]
1864 500 &c.
586,000
7
1888
5
2,231,000
1869 500 &c.
2,339,500
7
1888
3,930,000
5
1887 i,doo&c
4,531,000
5
1888
1,000
5 g(»)
50
90
78
156
366
580
di Sioiuc City— Stock
l8t mortgage 2d division
CAr
General mortKage for $3,000,000, gold
Iowa FaUs & Sioux City lat M., la. F. to 8. City..
Cher & Dak and Cedar Rap. & Ohio. Ist morts.
o&r
Dululh A Iron Range 1st mortgage
DiU. Red TTtH^i/;*).— lstM.,g.,$20,0O0perniile.c*Ar
thtbuque
1872 100 &c.
4
1,354,500
1878
1,000
.576,000
6
1,000
1883
1,500,000
6
1885
1,000
1,400,000
6
1887
1,000
4,000,000
5^1890 100 &c. See remarks.
4 «•
1891
1,000
(!)
6g.
1889
1,000
2,000,000
5 g.
1892
1,000
(I)
6g.
1870
1,000
2,000,000
?^1872
1,000
900,000
1873
1,000
500,000
4
50
1,730,450 6 per an.
1,000
1888
495,000
4 «•
1890
1,000
1,000,000
5 g.
1892
1,000
277,000
8 g.
100 27,500,000
100 11,000,000
In.
A Atlanlic—
Marquetto & Onton Ist M. extended in June, '92.
Marq. H. & On. Mort.,l8t on 40 miles, red. at 100
o*ifer
Mortgage, ist on 45 miles, red. at 10.5
c'l
Gen. Mort.— Ist. M. onMar. & West., 21 m
Duluth South Shore & Atlan., 1st mort., gold, -cwl
c'^r,
First consol. mort., gold, interest guar
Duluth Transfer— Ist mortgage for $2,000,000....,
Duhithd- Winnipeg.— lut M.f()r$7,000,000,gold..c*l
Dul.& Winn.TtT.'Co. l8tM.,*250,000,g.,guar.p.&i.l
Dunkirk AUegh.Val. di Pit tsbU7-g— 1st mort., gold..O]
2d and 3d mortgages (.$200,000 only are 3d M.).e,
r
East Broad Top— 1st mortgage
East Pennsylvania— SUtck a p.c gu.999yrs.Pliil.&R.
o*l
1st mortg.age, gold, guaranteed
c*
East Shore Tertninal—lHt mortgage, gold
2d M.($300,000),g.,red.at 105 & int.aft.Mar.1,'93.
Tennessee Virginia li Georgia Common stock.
East
Ist preferred stock (5 per cent non-eumulative)..
ido
90
90
30
36
36
j
—
2d preferred stock (5 per cent non-cumulative)..
Old IstM.s.f (Bristol,Tenn.,viaCUat.to Dalton. Ga)
242
552
95
.
Cona.M.,dlvls'aI,g.,(Bristol,Teun.,toSelma,Ala.)c*
Ala. Cent. 1st M., Selma to Meridian, gold, guar.cl
E. Tenn. Va. & Ga. consol. M., g. ($20,000.000). ctrj 1,083
cirj 273
1st extension mort. ($20,000 p. m.), gold
1870
1880
1879
1886
1887
18,500.000
3,123,000
3,106,000
1,000,000
12.770,000
5,140,000
i",6do
1,000
1,000
1,000
1,000
—
1890
&
&
&
&
6g.
g.
5g.
J.
J.
J.
N.
D.
80 Broadway.
N. Y., Chase Nat. Bank.
do
do
do
do
do
do
do
do
Nov. 30, 1891
July
July
July
Nov.
June
1,
1,
1,
1,
1,
1900
1930
1918
1956
1937
Duluth into the City of Duluth and from West Duluth to Irouton. The
mortgage for $2,000,000 is to the Metropolitan Trust Co. of New Y'ork,
as trustee, aud provides for bonds at $.50,000 per mile for road between
Irouton and Lake Avenue, Duluth, at $20,000 for additttmal single
track, at $13,200 for double traek; and for $750,000 for bonds for
depot grounds, depot in Duluth, wharves, freiglit houses, etc. Stock
authorized, $2,000,000.
Dnlnth
& Winnipeg.—Owns road completed
from
New Duluth
Deer River, Minnesota, 100 miles. Cn September. 1892, about 16
miles of road were still under construction. The Terminal Co.. controlled by the Duluth & Winnipeg, owns dock and terminal property on
Allouez Bay, Superior, Wis., wliich will be used by the D. & W.
Operated by North Star Construction Co.. Baltimore. Stock authorized—common. $3,000,000; preferred, 5 per cent, $2,000,000.
Bonds.—Trustee of mortgage for $7,000,000 is the Guar. Trust &
Safe Deposit Co. of Philadelphia. E.vrnivos.— In the tiscal year ending
June 30, 1892 (road still under construction), gross earnings were
$114,260; net over expenses and taxes, $40,20'2. II. J. Boardinan,
Boston, Mass., President of D. & W. RR. Co.; E. N. Morrison, Baltimore, President of North Star Construction Co. (V. 53, p. 58. 368; V.
54. p. 597; V. 55.p. 297.)
East PennsylTania.—Owns double track from Reading. Pa., to
Allentown, Pa., 36 miles. Leased for 999 years from May 1, 1869, to the
Philadelphia & Reading RR. at a rental of 6 per cent per annum on the
stock and interest on the bonds.
East Sbore Terminal.— Owns railroad, piers, warehouses, cotton
presses, &c,, on the water front at Charleston, 8. C, its lines connecting
the railroad system centering at Charleston with the piers. The second
mortgage bonds for $300,000 arc redeemable at 105 and interest on
any coupon day after Mai-ch 1, 1893. Stock authorized by charter,
$5,000,000; outstanding. $1,200,000. For 9 months ending June 30,
1892, not earnings were $.37,910. New York otHce, 44 Wall Street.
to
follows
1889
Office,
&
Uuliitit Transfer.- Present mileage of road is 5 miles, to which Is
being added about 7 miles now under contract, extending from West
Dividends. On common stock since 1879— In 1880, 6; in '83, 6; in '84,
6; in 1887, 3; in 1888 and 1889, nil. On preferred stock in 1879, 9^
rer cent; from 1880 to 1884, inclusive, 7 per cent; in 1885, S^a; in 1886,
I3; ni 1887, 7; in 1888, 312; in 1889 and since, nil.
Bonds.—Tlie
sinking fund holds $218,000 of the Detroit Lansing & Nortliern 7s and
$20,000 of the Ioni^ & Lansing 5s given as outstanding in the table.
E.\iiNING8.— From January 1 to Septemljer 30, 1892 (9 moutlis), gross
$913,633, against $924,636 in 1891; net, $236,770, against $209,919;
interest, rentals, &c„ $236,490, against $236,490; balance surplus,
$280, against $33,429.
Anncal Report.— Report for 1891 was in V. 54, p. 682, showing as
1888
June, 1892
'
7
5
Y.,Offlce,216B'way.
& J.
do
do
July 1, 1894
& D.
do
do
Juno 1, 1938
O.
&
do
Oct 1, 1917
do
& D.
do
Dec. 1, 1935
do
& O. N. T., Office, MiUs Bldg. Oct. 1, 1937
& J.
New York City.
Jan. 1, 1928
i D. N. Y., Chase Nat. Bank, Dec. 1, 1892
& 8.
do
do
Deo. 1, 1892
& D.
do
do
June 1, 1923
& O.
do
do
Apr. 1, 1925
& J.
do
do
Jan. 1, 1937
& A. New York or London. Aug. 1, 1990
& J. N. Y., Metropol. Tr. Co. Jan., 1921
& J. Phil. ,G Ha.Tr. ASafcDep. July 1, 1929
& J.
July 1, 1922
& D. N.Y.,N. Y.Cent.&Hud. June 1, 1900
& O.
do
do
Oct. 1, 1900
& J.
Julv 1, 1903
& J. Phil., Phil. & Read. RR. July, 1892
& 8,
do
do
Mch. 1, 1958
& A |N.Y.,DavlsACo..44Wan Aug. 1, 1915
& 8.
do
do
Mch. 1, 1902
1891.
Total gross earnings. $1,04 1,800 $1,131,986 $1,219,663 $1,254,100
321,170
325,062
375,446
Net over exp.& taxes.
392,797
Interestpaid
$310,546
$331,774
$318,633
$316,587
sur. 10,624
def. 6,712
sur. 71,164
sur. 58,859
Balance
1 1 ,738
profit.
19.149
Def 8. V. & St. L. RR.
3,369
—{V. 52, p. 49T; V. 53, p. 187; V. 54, p. 287, 682 V. 55, p. 255.)
Dubnqne Sc Sioux City.—Owns from Dubuque, Iowa, to Iowa
Iowa Falls to Sioux City, 184 miles; Manchester to
Falls, 143 miles
Cedar Rapids, 42 miles Onawa, Iowa, to Sioux Falls, Dakota, 1 55 miles;
tota 524 miles. Also leases Cedar Falls & Minnesota, 76 miles. Total
operated, 600 miles. In \pnl, 1887, a controlling interest in the stock
was sold to Illinois Central and in February, 1891, the road was leased
to that company, the rental being net earnings and the lease terminable
on 60 days notice. Sue V. 52, p. 350; V. 51, p. 493.
.
;
;
;
,
Cedar Falls & Minsksota Lease.— In 1887 a suit was begun to
annul the lease of the Cedar Falls & Minnesota RR. Under a cross bill
in the LI. 8. Circuit (Joiirt in <;iiicago, that Court decided the lease valid
as against the Dal)uque & Sioux City Co., but that the Illinois Central
Railroad Co. is in no way bound to the Cedar Falls A Minnesr)ta Co.
The Dubuque & Sioux City Company has appealed to the Supreme
Court of the United States.
— (V. 53, p. 407.)
Stock and Bonds.—The Illinois Central Railroad Company July 1,
East Tennessee Virginia Jc Georgia Railway.— (Sec 3Iap.)—
1892, owned $7,917,800 stock and $1,907,000 5 per cents; also all the
Cherokee & Dakota and Cedar Rapids & Chicago 5s, due in 1935, which Owns: Bristol to Chattanooga. Tenn.. 242 miles; Jlorristown to Unaka,
44 miles Cleveland to Selma, 264 miles Selma to Lauderdale. 95 miles;
are pledged as part security for its 4 per cents of 1952.
DiviDKNDS— In 1888, laot 1 per cent; in 1891, June, 1; December, 1; Elizabeth, Ala., to Akron. 53 miles; Rome. Ga.. to Macon. 159 miles (18
miles Jointly with Georgia Pacific); Macon to Brunswick. 190 miles;
In 1892, June, about '5 of 1 per cent.
Earnings.- In year ending June 30, 1892, gross earnings were branches to Savage Creek, Ac. 78 miles Rome to Attalla. Ga.. 62 miles;
$2,540,516 (again.st $2,447,189 in 1890-91); net, $793,405; loss from total owned. 1.187 miles; trackage (Mobile & Ohio) Lauderdale to
operating Cedar Falls & Minnesota. $16,991; avaii.able net. iuoludiug Meridian, 18 miles; leases the Kiioxville & Ohio Road. 66 miles, and
$2,113 other income. $778,526; rent.il Cedar Fail.s & Miunosota. paid controls tlie Briarrteld Blocktou & Binniugliam Railroad. Birmingham
Into Court. $113,370; interest, $503,335; dividends, $95,660; sinking Junction to Blt)cltton. aud br.inch to Bessemer, 52 miles; also owns the
fund. $9,210; other payments, $56,951; balance, nil. (V. 54, p. 159; Tenn. & Ohio, Kuoxviilo ,t .Augusta and Johnson City & arolina Railroad, 48 miles; total June 13, 1892. 1.371 miles. Controls also the
V. 55, p. S42.)
of the Memphis & Charleston Railroad from Chattanooga to MemDulntli 4; Iron Range.— Owns Duluth to Ely, Minn., IIG miles. lines Tennessee, 310 miles, and the Floienee and Somerville branches,
phis.
Sold to a yndicate in 1887, and aliove mortgage was aiitUorizod at tlie 20 miles; the Mobile & Birmingham, 150 miles. Total East Tennessee
rate of $25,000 per mile for construction and $7,000 for equipment, the Virginia & Georgia, 1,851 miles.
Metropolitan Trust Company of Now York being trustee. Branch, under
Also leases the Louisville Southern RR. 130 miles, and is interested
construction, is to be completed in 1892. Stock authorized. $3,000.- In the Erlanger roads; the Cincinnati New Orleans
& Texas Paolflo,
000; outstanding, $500,000; par $100. Laud grant from Minnesota Cincinnati to Chattanooga, Tenn., 336 miles; the Alabama Great
about 506,000 acres. See V. 51, p. 875. Tlie Minn. Iron Co. owns Southern. Wauhatchie, Tenn.. to Meridian and branch. 295 miles, etc.
the stock, $3,500,000 income oertiflcates and $400,000 bonds. From
OR(iANiZATioN, ETC.—Tills road, the East Tennessee Virginia <St
Jan. 1 to Sept. 30, 1892 (9 months), gross eamiucs were $1,283,180, Georgia Railwaj/, was formed in 1886 as successor of the East Tenagainst $827,714 in 1891 net. $741,627, against $406,241. In 1891 nessee Virginia & Georgia Railroarf. wliich was sold in foreclosure
gross earnings were $1,154,129; net, $618,321; interest paid, $2 18,200;
May 25, 1886. The Richmond Tenninal held on November 30. 1891,
rentals, $1,438; improvements, $23,751; surplus, $374,931, against
$8,783,200 first preferred. $6.53().000 second preferred and $5,880,000
$330,744 in 1890. President, J. L. Greatsinger, Duluth. (V. 51, p. 875.) common, of which $8,283,200 first preferred and $4,225,000 second
Duliitli Soiitli Sliore Sc Atlantic— Operates Duluth to Sault preferred were pledged under its trust deeds. As to election In NovemSte. Marie, 411 miles (of wliich 44 miles from Duluth to Iron River is ber. 1892. see V. 55, p. 856.
used in common with Northern Pacilic) "800" Junction to St. Ignace,
The Knoxville & Oliio was leased for 99 years from 1889 and its
43 miles; other lines, 135 miles total, 589 miles. At Sault Ste. Marie bonded interest guaranteed by the rental.
connection is made by bridge with the Canadian Pacitlc.
In April, 1890, acquired an interest in the Alabama Great Southern
Organiz.vtion, &c.— In July, 1888, a controlling interest in this system by purchase of stock. See Cincinnati New Oricins & Texas Pftcompany's stock was sold to Canadian Pacitic parties. The Marquette oitic, also statement concerning Cincinnati Extension bonds below, and
Houghton & Ontonagon 160 miles, was leased in perpetuity, but in V. 50. p. 560. In July, 1890. leased Louisville Southern for 99 years,
1890 the lease was rescinded and all the proi>erty, except its franchise, guaranteeing 5 per cent on bonds. (See V. 51. p. 51.)
sold to the Duluth South Shore & Atlantic, which assumes its debt and
Receivership.— On June 24. 1892, on acoount of the embarrassment
gives new consols in exchange for its stock.
of the Richmond & West Point Terminal Co., Charles M. .Mcdhee and
Capital Stock.— Common stock is $12,000,000 preferred, $10,000,- Henry Fink were api>ointed receivers of the East Tennessee Virginia A
000 par both $100. Preferred stock is 6 per cent, non-cumulative.
(icorgia Railway ompany, with all its property and .assets. Including
Bonds, Ac- Car trusts July 1, 1891. .$424,625, at 6 per cent, due its leased lines. All interest obligations of the East Tennessee ComAugust, 1895. See abstract of first mortgage, V. 45, p. 274. The Mar- pany due July 1, however, were p.aid at the Chase National Bank, New
quette & Ontonagon bonds due June 1, 1892, were extended at 4 per York, by order of the receivers. These payments include cinipons on
cent till December 1, 1892, on or before which date will be paid also Knoxville & Ohio, Louisville Southern and Alabama Central bonds,
the M. H. & O. 6s of 1878, called for redemption at par.
but not on Memphis & Charleston (wlio.se coupons are bought at the
The first consolidated mortgage of 1890 has interest at 4 per cent, Gallatin Bank) and not the Mobile Jk Birmingham coupons. General
guaranteed by Cana<lian Pacific. The amount authorized by it is Thomas says the property is sound .and needs no reorganization aside
$20,000,000 on the 580 inUos now or hereafter owned, and $20.()00 per from adjustment of some of the later issues of bonds mainly hold by
mile of new lines in excess of 580 miles. Of this $20,000,000, $11,169,- friends of the company, who can be consulted and some arrangement
300 have beeu issued, but were held in the company's treasury on made without diltioulty. Two committees ask the co-operation of bondMarch 9, 1892; the balance was reserved as provided in the mortgage liolders; see V. 55, p. 21, 255.
for prior bonds. See V. 50. p. 874.
Cai'Ital Stock.— Both the first preferred and the second preferred
Earnings.-January 1 to Oct. 31. 1892 (10 months), gross earnings stocks are entitled to a non-cumulative dividend of 5 per cent.
$1,943,305, against $1,884,534 in 1891.
Dividends liave been On first preferred stock in 1887, 4 per cent; In
In 1891 gross earnings were .$2,160,118; net, $827,826. See V. 54, 1888, 5 in 1889, 5 in 1890, 5 in 1891, 2.
p. 847. In 1890, $J, 241,097; net, $818,393. {V. 55, p. 765.)
Price ok Stock.- Common— In 1886, ll^lS^; in 1887, 9'e»17; in
;
;
;
;
;
;
;
;
:
;
'
I
;
;
NOVEMBBB
1803.
RAILROAD STOCKS AND BONDS.
ss
.
INVESTORS' SUPPLEMENT'
ff«
[Vol.
LTr
MAP OF THE
ELGIN, JOLIET
AND
EASTERN RAILWAY
CHICAGO
OUTER
BELT LINE
CONNECTING ALL RAILROADS
CENTERING AT CHICAGO.
ELGIN'
V
te.EvanstonWII
'""""VST"
A
ISPAULDING
llNGALTON
[aen«vall
Jnorth,
D#qj
P
iA
WMrenhurst/
f-f
(
_
/
(jjJfjuBUjoTOJi..^^^)
G
Hinsdale
*
Leslie
SfESrVNapier^Ile
R.
Pariott^
.
Bataviaa
Fox
ci{4iXW
'
\
\\
f^
.ri^^^^T^ .
rURNER
.CHICAGO
"^
.__
River
St.Charlcr{
Av
(\.
-rt(
;
NOYEUBBR,
RAILROAD STOCKS AXD BOlSDa
1899,J
S7
confer a great favor by givlnx Immediate notice of any error discovered In these Tables.
Bsmis— PrlnotINTEREST OR DIVIDENDS.
MUes Date Size, or
paI,WIieD Doa.
Amount
of
Far
For explanation of column headings, &o., see notes of
Outstanding Rate Per When Where Payable, and by aioekt—lMit
Road. BondH Value.
on ttrnt page of tables.
Cent.
Payable
WTiom.
DIvldeud.
Sabscrlbem
ivlll
RAILROADS.
—
Batt Tennensre Virginia li Oeorgia (Concluded)—
ImprovcmtMit aud etitiipinent mort., gold
oAr 1,083
CinciunatI Extension CoUat. Tr., gold, guar
General mortgage tor $15,000,000, gold
cAr
Kuoxville A Ohio— Ist M.. gold, guar.by rent.o*Ar
66
Sast « West Ala.—l»% cons. M., g. ($1.'),000 p. m.) 0' 116
Haslern (If. H.)— Stock
16
Hel Kive.i Stock, 2ia to 3 p. o., guar, by Wabash...
94
Slqin Joliel <f B(M(ern— Ist M. ($10,000,000) gold.o*
177
Blisabfllitown Lex. <t Big Sandy— Bee Cuks.vi'EAKE & Oiii
Slmira Cnrtland <* Norlhem Ist pref. M., gold..o" 120
1st mortgage, gold
120
Slmira Lake Ontario— 8oilu» Bay & So.— Ist M. g. o
34
Etmira tC Williamsai>rt—SVk, com., 5 p. o. ren'l, N.C.
76
Preferred stock, 7 p. c. rental, 999 yrs.. No. Cent.
76
1888
1890
1890
1885
1886
1891
'
Income bonds, 999 years
i>£(/«.— Stock,
7
to run
rental,999 yrs..PennCo.
Consol. mort. free of State tax (for $-1,500,000) .c
iBrte
it
1884
1884
1884
p. o.
Equipment bonds
General mort. for $4,500,000 series A, g., guar...
^riett Wyoming Valley — Ist mortgage
BureKa Uprings—lat mortgage, gold
2d mort. income bonds
European it North American— Bee Maink Ckntral.
Svansville >t Iiulianapolia—T. H. & Southe.lst M.o*
EvansvUle <fe Indianapolis 1st mort..gold,guar..o*
Consol. mortgage (for$2.500.000) gold, guar.c*
Svans.itRich.—^iit M., Weatorn Div., Euar
c*
Ist general M., $12,500 p.m., gold, guar
i^vanmille it Terrc Haute— Stock
1st consolidated mortgage, gold
o*
Mt. Vernon Branch 1st mort ($15,000 p. m.), g.o*
1,000
1868
1870
1890
1883
1883
1883
1,000
1,000
1,000
1,000
1,000
1879
1884
1886
1888
1891
1,000
1,000
1,000
1,000
1,000
50
50
76
'85
81
81
81
19
40
55
135
80
112
1,000
1,000
1,000
1860
1863
,
r
o*
1,000
I
500
50
500
50
144
25
$6,000,000
6.000,000
320,000
2,000,000
1,725,000
N. Y., Ohase Nat. Bank.
5
do
do
do
g-
6 g.
738,7.')0 3 per an
3,000,000 2'apcran
5,589,000
5 g. M.
<Sc
N
do
do
d*
Last paid Deo., 1887.
Boston, by Treasurer.
Boston, by Treasurer.
N. Y., Dreiel, H. A Go.
Sept
1,
1938
Feb. 1, 1940
Deo. 1, 1940
July 1, 1925
Deo. 1, 1920
Dee. 15,1899
Oct.
Hay
5,
1,
1893
1941
O.
—
1st mortgage
1,000
1,000
1,000
100
100
—
if:
$1,000
1,000
I
1881
1883
1,000
1,000
750,000
A. A O N. Y., 192 Broadway,
t«- A. & O
1,250,000
do
do
500,000
J. A J. N. Y., Nat. Bank Com.
500,000 5 per an. M. & N PhUa., Penn. RR. Co.
500,000 7 per an.
do
do
& J,
1,000,000
6
4 J,
do
do
570,000
5
L. A O
do
do
1,998,400
per an. Q.-M. N. Y., Union Trust Oo.|
2,109,000
7
J. & J,
do
do
511,000
7
A. & O.
do
do
775,000
J. & J.
do
do
3,000,000
Office. Dunmore, Pa.
J. & J,
500,000
P. A A, N. Y., MeroantUeTr. Co.
500,000
do
Feb'y 1.
do
.
.
251,000
7
653,000
1,596,000
«•
f
19«,000
1,204,000
5 «•
3,000,000 See text.
3,000,000
6g.
375,000
6 g.
M.
J.
J.
M.
M.
A.
J.
A.
A
A
A
A
A
A
A
A
S.
J.
J.
8.
8.
N. Y. Farm. L.
,
do
do
do
do
Now York.
N. Y.,Farm.L.ATr. Co.
Farm.
do
do
O. N. Y. ,
J.
O.
A Tr. Co.
L.
Apr.
Apr.
July
Nov.
July
Jan.
1,
1,
1,
1,
2,
1,
1,
Sept
1,
1,
1,
1,
1,
1914
1914
1924
1892
1892
1910
Oct
2862
Dee., 1892
July 1, 1898
Oct. 1, leoo
July 1, 1940
July 1, 1913
Feb. 1, 193S
Feb. 1, 1933
July
Jan.
Sept
sept
A Tr. Co. Oct
do
do
July
Apr.
15,
1,
1,
1900
1924
1920
1928
1931
1892
1921
1923
1888, 8S11>4; in 1889, sasallH!: In 1890, 638®llifl; In 1891, SaSH;
Annual Report.— Report for 1891-92 was In V. 55, p. 677. In 1891In 1892 to Nov. 18, inclusive, 4®9%.
92 gross earnings, $815,134 net, $267,202 (against $195,834 In 1890Pnce of tlrst preferred— In 1886,67®83'>8; ml887,52®82ia; In 1888, 91) Interest on bonds, $278,900; deficit $11,698. President. Samuel
55®83; in 1889, 63®76i«; In 1890, 55a81 In 1891, 40®66; In 1892. Spencer, New York.— (V. 52, p. 350; V. 53, p. 603; V. 55, p. 6TT.)
•to Nov. 18, inclusive, 30%®51!(i.
Ellzabettatown Lexington Sc Rig Sandy.—See Ches. A Omo,
Price of second preferred— In 1886, 24®35%; In 1887, 18®32; In
Elmlra Cortland Sc Nortbern,—Owns Elmira, N. Y., to Cana1888. 17i4®27J3; m 1889. 20®25i4; in 1890, 13^-a>27^i; In 1891,
stota, N. Y., 119 miles, and leases iliiriug corporate existence, Canastota
STg'aiOis; in 1892, to Nov. 18 ineliialve, 75b»20.
BoNr>s.— Besides the bonds of the Knoxville & Ohio in the table above Northern Railroad, Caiiastota to Camden. N. Y., 21 miles. Sold In fore"the company gaar.antees $3,000,000 Mol)lle & Birmingham 5 per cents closure in 1878 and again in Fehru.-vry, 1884, and reorganized as at
present Stock is $2,000,000; par, $100. From July 1, 1892, to Sept
jsind $5,000,000 Louisville Soutliern 5 per cents- see those companies.
The trustee under the consolidated mortgage of 1886 and the first 30, 1892 (3 months), gross earnings were $125,867, against $111,244
In year ending June 30,
.extension mortgage of 1887 is the Central Trust Company of New York; in 1891; net, $57,137, against $44,942.
;
;
;
^7,325,000 consolidated bonds were reserved to retire prior bonds of
the Alabama Central RR. and the East Tennessee Virginia A Georgia.
The Ciuciun.ati Extension bonds of 1890 were issued Jointly by this
company and tlie Richmond A Danville, and are guaranteed, principal
and mterest by the Richmond & West Point Terminal. They are further
secured by a deposit of £340,000 6 per cent preferred A shares and
*783,010 ordinary B shares of the Alabama Great Southern. There was
Also to lie deposited for them $500,100 stock of the Cincinnati New Orleans & Texas Pacittc, and pending such deposit $500,000 in cash. See
abstract of mortgage in V. 52, p. 83.
The issue of bonds under the extension mortgage of 1887 has been
limited by vote of the Board of Directors to $5,140,000. These bonds
are exchangeable for the general mortgage bonds of 1890.
The general mortgage of 1800 for $15,000,000 was to be used In
building branches, double tracking, and retiring $5,140,000 extension
bonds of 1887, whole issue not to exceed $20,000 per mile.
Latest EARNiN08.—From July 1, 1891, to Jan. 31, 1892(7 months),
earnings including the K. AO., the Louisv. South, and Mob. A
It.,
f'088 were: $4,69,5,986, against $5,168,485 in 1890-91; net over exoensee aud taxes, $1,279,126, against $1,502,381. For 2 months ending Aug. 31, 1892, gross, $1,014,044, against $1,096,940 in 1891.
Annual Rei-ort- Fiscal year ends June 30. Report for 1890-91 was
In V. 53, pp. 711, 714. The results do not include KnoxvlUe A Ohio, etc.
1887-88.
1888-89.
1889-90.
1890-91.
Miles operated June 30.... 1,069
1,067
1,197
1,265
Total gross earnings
$5,109,917 $5,301,624 $6,412,078 $6,718,730
Oper'ng expenses A taxes 3,393,238 3,508,610 4,338,838 4,644,289
Net earnings
$1,716,679 $1,793,014 $2,073,240 $2,074,441
Net, tncl. mis. income
$1,723,835 $1,809,770 $2,125,927 $2,200,745
interest on bonds
$1,086,993 $1,223,852 $1,404,743 $1,855,243
Dlv.onlstpref. st'k.Sp.o.
550,000
550,000
550,000 * 5.50,000
MlsceLancous
16,156
18,775
73,966
Total disbursements. .$1,653,149 $1,792,627 $1,954,743 $2,479,209
8ur.60,686 8ur.l7,143 8u.l71,184def.278,464
•This dividend was uatrf in tlie year out of previous Income, but from
the earnings of 1890-91 only 2 per cent wasdcclared, payable Nov. 30,'91.
—(V. 52, p. 80, 83. 831 902 V. 53. p. 407. 7 11 7 1 4, 922 V. 54, p.
643, 800, 924; V. 55, p. 21, 255, 856.)
Balan ce
,
;
,
&
;
£ast
AVest Railroad of Alabama.— Owns Cartersville, Ga.,
to Pell City, Ala., 117 miles ; branch, 2 miles. Stock Issued, $10,000
per mile; par, $100. Chas. P. Ball, Cartersville, Ga., Receiver. Certlflcatci for $649,863, bearing
8 per cent interest, were issued
to put the ro;vd in thorough repair. Gauge changed to standard in
1890. Litigation is pending and no interest Is paid on receiver's certificates. In year ending June 30, 1892, gross earnings were $128,030
oet $11,821. In 1890-91, gross, $133,479; net, $6,868. E. Kelly,
Preeldent, New York.
1892, gross earnings were.$395, 819; net,$115,990; iutereston preferred
mortgage, etc., $46,400; rentals, etc., $18,000; surplus. $51,590. In
1890-91 gross $463,452. Austin Corbln, President, New York City.
&
Elmlra
I.ake Ontario.—Owns from Canandaigua, N. Y., to
Clheraung Junction, 64 miles Sodus Point to Stanley, 34 miles ; other 2
—total, 100 miles. A consolidation in December, 1886, of the Sodus Bay
Leased at cost of operating to the
Jc Southern and otlier railroads.
Northern Central, which owns all the $1,500,000 stock and $226,000
Sodus Bay bonds, including $99,000 in Insurance fund. Lease may
be terminated on thirty days* notice from either party. In 1891 the
gross earnings were .$706,186; net, $3,574; interest, $25,000; other
charges, $16,894 deficit, $38,320, payable by lessee.
;
;
Elmlra
W^llllamsport.—Owns from Williamsport Pa., to El76 miles. This company was reorganized under the pres-
&.
mlra, N. Y.,
ent name February 29, 1860, and lea.sedtothe Northern Central Railway for 999 years from May 1, 1863, at a rental of $151,500 per annum
after January 1, 1880. The dividends on the common stock are 5 per
cent and on the preferred 7 per cent Gross earnings In 189 1, $935,727 ;
net, $213,758 ; rental, $153,426.
Erie dc Pittsburg.—Owns New Castle, Pa., to Glrard, Pa., 82 miles;
branch. Dock Junction to Erie Docks, three miles; trackage (Lake
Shore & Michigan Southern); Glrard to Erie, 17 miles; total oi>erated,
101 miles. Road opened In 1865. It was leased to the Pennsylvania
Railroad for 999 years from March 1, 1870, at a rental of 7 per cent on
stock and interest on the bonds, and the lease was transferred to the
Pennsylvania Company.
In Octolier, 1890, a new mortgage for
$4,500,000 was executed, $3,262,000 being reserved to retire prior
bonds and the balance for improvements, Ac. The lease has been
quite unprofitable to the lessees, the deficiency paid bv them In 1885
being $354,633; In 1886, $225,794; in 1887, $287,306 In 1888, $211.
063 In 1889. $290,734 In 1890, $267,705 in 1891, $201,724.
;
;
;
Eareka Springs.—Seligman,
Mo., to Eureka Springs, Ark., 18>s
allies; projected to Harrison, Ark., 50 miles beyond. Stocli, $500,000;
$100. There is a tralfic contract with St. Louis A San Francisoo.
Far,
n year ending June 30, 1892, gross earnings were $76,112; net,
$11,619; Interest 1st mort., $30,000; interest on Incomes, 915,000.
Total surplus Juno 30, 1892, $30,806.
European & North American.—See Maine Central.
Evaiisvllle Sc tndlanapnitH,^ See Map Evansrille <t Terre BauteJ
EvansvUle to Terre Haute, Ind. (via Worthington). 138 miles);
branch 6 miles; leases branch to Brazil, 12 miles; total 156 miles. A
con.solldation in October, 1885, of three corporations, viz.; the EvansvUle & Indianapolis, the EvansvUle Washington A BrazU and the Terre
Haute A Southeastern RRs. Of the consoUdated mortgage bonds,
$800,000 are reserved to meet prior Ueus. The consolidated iDonds are
guaranteed by the EvansviUe A Terre Haute Co., which owns entire
—Owns
capital stock, $2,000,000
From January 1 to Oct. 31, 1892 (10 months), gross earnings were
$315,857, against $298,564.
In year ending June 30, 1892, gross earnings were $368,795; net,
H., to Seabrook $179,210; H.Keil charges, $168,514; surplus, $10,696. In 1890-91 gross,
(Massachiusetts State Line), 16 mUes. Leased to the Eastern RR. (now $328,278; net $142,132. (V. 54, p. 119.)
consolidated witli Boston A Maine) from October 1, 1878, for 60 years
EvansvlIIe tc meb.monH,^( See Map Evans, it Terre
and 2 months at $22,500 per year. In June, 1891, a stock dividend of 50 Elnora to Westport Ind., 102 miles, and eoal spurs 10 17.;— Owns
miles and
per cent was paid. Dividends till Increase of stock were i^a per cent projected from Westport to Rioliiuond, 65 miles. ControUed and
SBr annum, since Increase, 3 per cent. The directors have been author- operated by the EvansviUe A Terrc Haute, which guarantees by ened to arrange for a union with the Boston A Maine. (V. 52, p. 939.)
dorsement on each bond the principal and Interest (tf the general mortEel River.—Owns from Logansport, Ind., to Butler, Ind., 94 miles. gage os aud owns the entire capital stock of $1,.500,000. The authorThis was formerly the Detroit I5el River & Illinois Railroad, sold uuder ized issue of those bonds is $2,000,000, of which $1,400,000 were to be
foreclosure July 6, 1877. IjeaHe<l for 99 years, April 1, 1887, renewable UHC<1 to retire the Eastern aud Western Division bonds. Of the amount
forever, to Wabash, at 2 per cent yearly on the stock till April, 1892, given above as outstanding $145,000 were held October 1,1892, to
then 2>2 till 1895 and 3 per cent thereafter. V. 53, p. 436.
retire a like amount of Western Division gold 5s (M. A 8.) due Sept 1,
p. 366,
Elgin Jollet
Eastern.- CA'ee jVfnp;- Owns from Waukegan DL, 1928, not yet exchanged. See V. 54, month), 587, 643.
gross earnings $14,285,
From Oct. 1 to Oct 31, 1892 (1
(two miles east of Elgin), via Spauldlng and Jollet, to McCool, Ind.,
125 miles, and branches Aurora to Noniiiiutown, 9 miles— Walker to Cos- against $9,664.
ter, ni.— ,32 miles; branches, 11 miles; total, 177 miles. This Is a great
Terre Hante.— C5«« Jfa».>—Owns from EvansvUle
EvansviUe Sc
belt line affording to roads approaching Clilcago facilities for transfer to Torre Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 37 miles;
of freight from one line to another without broaJdng bulk. Also reaches other branches, 15 miles. Proprietary Lines— EvansviUe Belt Railway,
the coal tleldsof Grundy County.
5 mUes; total operated directly, 1(><> mUes. Operates, keeping earnings
8to(;k.— Stock, $6.000,000 par, $100.
separately, EvansviUe & Indianapolis (which see), 144 miles, and leased
Bonus.— First niortgiigo (tni.stees Central Trust Co. and J. M. Butler) line, 12 miles; EvansviUe A Richmond Railroad, Elnora to Westport,
is for $10,000,000; the balance unissued can be disposed of for exten- 102 miles, and coal sjiurs 10 miles; total of all, 430 miles. The Rooksions. l)ett(mneiitH, etc. Bills payable were $120,000 July 1, 1892.
viUe Extension, 23 miles additional, is leased to the Terre Haute A
L,vtest I;aknin(;s.— From July 1 to Sept. 30 (3 mouthsl in 1892 gross Logansport and Chicago A Easteru Illinois tor .$12,000 yearly. Also
4224,310, against $199,096 In 1891; net, $69,079, against $76,357.
owns entire stock sf EvansvUle A Indianapolis, which see.
Eastern (inass,)—See Boston A Maine
Eastern ITIIunesota.—SEE Great Northern.
Ea«tern (N. H.)— Owns from Portsmouth, N.
&
;
INTESTOKS' SUPPLEMENT
ss
CiREENUMfc
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y
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MAP OF THE
f^ EVANSVILLE & TERRE HAUTE
HumboldtV
(^
Ripley
w-
EVANSVILLE
•^'"""^V^
EVANSVILLE
JackBon\
''.
'Tipton
.
Mc Nairy
R.
^
Somerrille
L
Junction
R. R.
& INDIANAPOLIS R.
k RICHMOND R. R.
EVANSVILLE BELT RAILWAY.
PEORIA, DECATUR & EVANSVILLE RY.
ib
^
E
E
'Paria
S'
_^
Louisville,
Evansville
&
St. Louis Consolidated.
I
.
NOTBMBEB,
;
EAILROAD STOCKS AND BONDS.
1892.]
Snbacrlberii urlll confer a great favor
KAILROADS.
bjr
Miles
For explanation of column lioadings,
on first page of tables.
&o., see notex
lEvanmille <i Terre Haule—fOonehcded.j
Sullivan County Coal branch mortgage, gold., o*
0*
l8C general mortgage for $7,000,000, gold
Evansville Terre 11. <t Vlnc—lat M., g.,lui. guar..o*
o*
2d mortgage, gold. Int. guar, by Cb. & K. Ill
Rate per Wben Where Pavable, and by
Road. Bonds Value. Outstanding
Cent.
Payable
whom
30
199
49
49
1890
1892
1870
1872
1881
1883
1888
1889
1890
$1,000
1,000
1,000
1,000
44
80-'88
1889
1887
1887
1890
oAr
"Bonds
<&
•84-'87
O).
c
Boston ISarre & Gardner Ist M., $91,300 are 7s.
2d & 3d morts. $95,700 of 3 p.ets. are 2d mort.
Troy & Boston Ist mortgage, consolidated
iBoston Hoosac Tuimel & W. debentures, see text
>CheRliire RR. plain bonds, $550,000 duo 1898. .o'
,
Brookllne
1,000
&
Pepi)ereU plain bonds, guar. (end)..
^tinl <C Fere Marquette— Common stock ($3,500,000)
Pref. stock, non-oumulativc (for $6,500,000)
Holly Wayne & Monroe 1st M. sink, fund, end. .c
I'Uut & Perc Marn'tte mortgage (is of 1920, gold.c
Consol. M.,(for $10,000,000) $20,000 p. m., g.o"
1,000
1,000
1,000
1,000
1,000
1,000
1890
1892
3813 1873 100 "&0.
1875
"35
1874
1,000
1883
1,000
76-'78 500 Ac.
625
625
65
285
384
i'oo
100
1871
1880
1889
1,000
1,000
1,000
Organization, Contracts, Etc.— This was formerly the EvansvlUe &
"CrawfordsvlUe RR. It belongs to the Mackey system, and Is operated
tin close connection with the Louisville Evausvillo & St. Louis and the
•Peorla Decatur & EvansvlUe— which see. In 1800 a ten-year tralllo
contract was made with the Chicago & EasteiTi Illinois for a through
route between Chicago & EvansviM.
Stock.— An increase of stock from $3,000,000 to $6,000,000 was
authorized by stockholders in October, 1892. See below.
Dividends since 1880.— In 1881, 4'3 percent; In 1884, 5; in 1885,
•3; in 1886, 4; fi'om 1887 to 1890, Inclusive, 5 per cent i>er aummi in
1891,7; In 1892, January, 2 April, 5 per cent in general mortgage
bonds; October, 5 per cent in cash (semi-annual). The stockholders in
October, 1892, voted to Increase the stock to $6,000,000, and it Is said
the directors advise the payment of a scrip dividend of 100 per cent to
represents surplus earnings expended on the property. V. 55, p. 462, 679.
;
;
Bonds, Guaranties. Etc.— EvansvlUe & Richmond bonds for $1,400,000 and certain Terre Haute & Indianapolis bonds are guaranteed. Bee
those companies. There are also $30,000 EvansvlUe & Terre Haute
Eailroad consols, due July 1, 1910, and car trust notes July 1, 1892,
;$689,217.
The Ev. <fe T. Haute general mortgage covers 182 miles of road owned
.and .$3,000,000 of stock of proprietary roads, having a mileage of 277
miles. Of the authorized issue $3,855,000 are held Intrust to retire the
Srlor bonds at maturity, and $1,000,000 were sold to provide for
ouble-traoklng, etc., in preparation for the Chicago Exposition.
Earnings.- From July 1 to October 31, 1892 (4 mouths), gross earnings were $480,714, ajjaiust $460,840 In 1891 net, 276,545.
Annual Rkpout.— Fiscal year ends June 30. Annuiil meeting Is held
at EvansvlUe the thiid Monday In October. Last report in V. 55, p. 854.
1889-90.
1890-91.
1891-92.
;
159
$970,551
473,457
51,855
Total net Income
Interest on debt, etc
Dividends
Balance, surplus
$538,741
$221,175
165,000
$708,010
$231,346
180,000
$354,300
$171,012
Other income
161
$1,102,629
494,685
44,056.
$525,312
$204,300
150,000
Total miles operated
Gross earnings
Net earnings
8386,175
$152,566
$411,346
$296,664
105
$1,225,413
607,777
100,233
8ttM-kt-L»gt
Dividend.
* O. N. Y.,Farm.L.4Tr.Co. Apr. 1, 1930
do
Apr. 1, 1942
& O.
do
MAy 1, 1900
<& N.
do
do
do
Jan. 1, 1900
J. & J.
do
do
May 1, 1920
M. & N.
do
M. & N. Phila., FideUty Trust. May 1, 1898
May, 1922
M. & N.
July 25, 1928
A.
F.
July 1, 1940
J. & J. N. Y., Washington Tr
July 15, 1893
Boston, Office,
J. & J,
Ap.'94AOo.'97
do
do
A. & O.
Var.'99tol908
Various
do
do
Mch. 1, 189»
M. & B.
do
do
A.
5 g.
775,000
6 B.
325,000
150,000
890,000
6
320,000
6
500,000
6
793,000
5g.
7,000,000
17,000,000 See text.
1,000,000
6 A 7
4,500,000
5
750,000
5
5,000,000 3^ to 4
413
2,250,000
500,000
5
2,500,000
4
500,000
4
See text.
391,000
5& 7
153,000
3 AS
577.000
7
1,400,000
5
800,000
6
100,000"
S
3,298,200
6,342,000 See text.
1,000,000
8
3,999,000
1,800,000
5 g.
^-
I'.OOO
74&'7
p. c. Int. till Feb., '97)
Sends ($1,500,000 due 1907, interest A.
Bonds
Bonds for $1,791,000
$450,000
1,150,000
100
100
bal.1908.0*
Bonds
Bonrf»— Prln«Ipal,W1ien Doe.
Amount
Par
Bonds
iBonds to State of Mass. (3^3
anjr error dlvcovered In these Tables,
INTEREST OB DIVIDENDS.
Size, or
of
Incomes
Inol.,
Date
Immediate notice of
of
rail Brook— Cor. Cow. &. Antrim deb., d'n at 100.. 0Farmtille it Powhatan— l»t mort. for $550,000
Second mortgage for $500,000, Incomes
lindUiy Ft. Wai/ne <« H'es/.— l8tM.,g.,$18,0O0p.m.o'
f%t€tiburg— Common stock
Pref. 4 j)er cent stock, non-cum
o
Bonds, $.500,000 are (is, due Oct. 1, 1897
Bond8,$500,000 yr'ly,'99to 1903
Ktvln|{
A9
A.
M.
<fe
F.
<fe
A.
H.
<b
S.
do
do
do
do
Feb.
A D.
do
do
Various
do
do
J. & D.
do
do
A. & O.
do
do
J. & J.
do
do
J. & J.
do
do
M. & S. N. Y., Kountze Bros.
J. 4 J. Boston, Fitchbnrg ER.
J. & D.
do
do
J.
A.
&
&
M.
<fc
J.
O.
1,
1,
1,
1937
1897
1900
1904-5-7
June
1,
1920
Apr.
July
July
1,
1,
1,
1,
1898
1896
1924
1913
Sept.
Julyl,'96-'98
Deo. 1, 1911
Aug.
N.Y.,Mer. Ex. NatBk. Jan.
do
do
Oct.
N.
do
do
May
F. <b A. East Sag., Mich., Tieas.
J.
Sept.
June
15,
1,
1,
1,
1892
1901
1920
1939
—
owned, 372 miles leases and operates Vermont & Massachusetts RaUroad, Fitchburg (which see) to Greenfield, 56 mUes; other, 8 miles;
64 mUes; total June 30, 1892, 436 mUes, of which 155
;
total leased,
miles double track.
Organization— In 1887 the Fitchburg RR. Co. consolidated with the
& Greenfield and purchased the Hoosac Tunnel RK. and Troy A
Boston; on October 1, 1890, it consolidated with the Cheshire Railroad and on October 1, 1892, with the Boston Hoosac Tunnel & W., the
Troy Saratoga & North, and the Monadnock.
Stock— The State of Massachusetts owns $5,000,000 of the common
stock. The preferred stock is entitled to 4 per cent dividends, tlien
common and preferred receive dividends share and share alike. On
October 1, 1892, the preferred stock was Increased from $16,498,000
to $17,000,000 by consolidation referred to above.
DiviDEND8.—On preferred stock : In 1887, 2 per cent ; in 1888.2; In
1889, nU; in 1890, 2 p. c; in 1891, 3Hj p. c: in 1892. Jan., 2 p. c; July, 2.
Bonds.- For the Troy & Boston 7 per cent bonds the Fitchl)urg
See V. 53, p. 405.
is
liable for principal and full inter» st.
There are also •mtstanding $48,000 Monadnock Railroad 5 per
cent bonds-due July 1, 1897; and a 414 per ct mortgage note of the H.
T. D. & E. Co. for $500,000 due April 5, 1893. On Oct. 1, 1892. there
were outstanding loans and bills payable amounting to $500,000
(against $650,000 July 1. 1892)
Boston Barre & Gardner 3 per cents
for $90,600 were canceled June 30, 1892. For Vermont & Mass. securities, see that company.
To pay $1,400,000 Boston Hoosac Tunnel & Western bonds subject
to call upon 60 days' notice and $391,000 Boston Barre & Gardner
bonds due April 1, 1893, tlie directors were authorized In September,
1892, to issue bonds for $1,791,000. V. 55, p. 503, 544.
Latest Eakninos.— From July 1 to Sept. 30, 1892 (3 months), gross
earnings were ,$2,008,388, against $1,872,497 in 1891 net, $045,964,
against $630,014; other income, $14,309, against $10,190; interest,
taxes and rentals, $354,845, against $355,119; balance, surplus,
$305,428, against $291,085.
Annual Rem>rt.— Fiscal year ends June 30. The annual report for
1891-92 was In Chronicle V. 55, p. 501.
1891-92.
1890-91.
1888-89.
1889-90.
rear endino June 30.
436
436
369
369
Total miles operated
$6,259,533 $6,851,002 $7,348,805
Total gross earnings
$5,747,985
Op. expenses and taxes.. 4,390,792 4,525,605 5,133,465 5,336,778
Troy
;
;
Net earnings
$1,357,193 $1,733,928 $1,717,537 $2,012,027
$281,280 $271,980 $274,980 $260,980
from Terre Haute Rentalspaid
945,271
799,153
869.068
762,806
Junction, Ind., to Danville, 111., 49 miles; leases 6 miles; total operated, Interest on debt
18,793
20,216
8,264
27,875
S5 miles. It uses 6 miles of the track of the RockvlUe Extension into Other interest
649,238
261,835
562,749
:Terre Haute; also leases the Indiana Block Coal Koad, 15 miles. On Dividends
April 30, 1880, a lease to the Cliicago & Eastern Illinois was made for
Total disbursements.. $1,071,961 $1,341,232 $1,727,012 $1,874,282
r999 years; terms, $75,000 per annum and the assumption by the Chi.oago & Eastern IlUnois of all rentals and taxes paid by EvansvlUe Terre Balance, surplus
$285,232 $392,696 def. $9,475 $137,745
Haute & Chicago. Minority of the stock Is owned by Chicago & Eastern — (V. .53, p. 256, 405, 714; V. 54, p. 243,762; V. 55, p. 256, 419, 501.
nUnols, which has endorsed the tlrst and second mortgage bonds with 503, 544, 765, 806.)
dts guaranty of interest. (V. 48, p. 827.)
Pere Marquette.— f See 2fa».;—Owns from Monroe, Mich,
Fall Brook Kallivay.— Owns from Coming, N. Y., to Antrim, to Flint
Ludlngton, Mich., 253 miles; 11 branches to East Saginaw, Fostoria
Fa., 53 miles; branch to Harrison VaUey, Pa., 33 miles; FaU Brook
Port Huron to
etc., 133 miles; Port Huron to East Saginaw, 90 miles
branch, 7 miles; leases the Syracuse Geneva & Coming Ry., Corning, Sand Beach (3 feet), 70 miles: Palm to Port Austin (3 feet), 35 mUes;
N. Y'., to Geneva, N. Y., 58 miles, and Penu Yan to Dresden, 6 miles
Port Auron to Altmont (3 feet), 34 miles; Zion to Yale (3 feet) 12 miles:
and the Pine Creek Ry., Stokesdalc Junction to Newberry Junction,
627 miles, of which 151 are 3 feet gauge.
Pa 75 miles total, 232 miles. Formerly the Coming Cowanesque & total operated,
Ohhanization, Securities, Etc.—Sold Augiist 18, 1880, under the
Antrim, oi)erated by the Full Brook Coal Co. Name changed to present consolidated mortgage, and reorganized. In 1889 consoUdated with cerSee V. 55, p. 21.
title July 1, 1892, and stock Increased to $,'>,000,000.
branches (see V. 48, p. 222) and absorbed Port Huron & NorthwestDividends paid quarterly, March 31, etc. The coal line of Phlladelplila tain (see V. 48, p. 260). Tlie consolidated mortgage of 1939 Is a first
York Ontral is over the road of this company, ern
Reading and New
mortgage on II414 miles of road. Trustee Central Trust Co. On Jan. 1,
which Jointly with said companies guarantees the bonds of the Pine 1892, there were outstanding bills payable for $478,677. In Febru•Creek RaUroad Company.
May
ary, 1892, $150,000 Port Huron Division 58 were Issued, and
Latest Earnings.— From Jan. 1 to Sept. 30, 1892|(9 months), gross $300,0(K> tlrst con.sols.
^ ,
$553,711, against $565,571 In 1891; net, $202,223. against $168,656.
Dividends.- On preferred stock since 1880— In 1881, 213 per oent; In
In year ending June 30, 1891, gross earnings of the C. ('. & A. were 1882,6; In 1883 and 1884, 7 lnl885, 5I9; in 1886, 4'a; inl887,5»9;
8723,285 net, $193,209 surplus to lessee, $33,247. George J. Magee, in 1888, 7 and 5 extra; In 1889, 6ia; in 1890, 6 per cent; in 1891, Feb.,
V. 54, p. 469; V. 55, p. 21.) 2 per cent; Aug., 1>3; in 1892, Feb. 15, 213: Aug., 2 per oent.
President. Corning, N. Y. (V. 53, p. 568
Latest EARNINOS.-B'rom Jan. 1 to Sept. 30, 1892 (9 months), gross
FarmTlIIe & Powrhatan.- Owns from Bermuda Himdred, Va.,
against $61 1,388;
to Farm viUe, 89 miles, and branches to Eppes' Falls, etc., 8 miles; total 97 $2,146,171, against $2,170,913 in 1891; net, $624,112, bahince, surplus,
Common, $500,- interest, rentals, ac, $452,957, against $427,872;
Stock authorized
miles. Completed March 3, 1890.
OOO; preferred, $500,000; par, $100. From Jauuary 1 to March 31, $171,155, against $183,516.
^, ,„„, . „
ANNUAL REi'oRT.- Fiscal year ends Deo. 31. Report for 1891 in V
1892 (3 mouths), gross earnings, $18,729, against $16,055 In 1891; net,
oelow only in 1890
$655, agst. loss of $1,745. In year 1890-91 gross, $93,018; net, $17,639. 54, p. 798. The Port Huron Division is included
FIndlay Fort IVayne Sc W^estern.— Owns road completed In and 1891.
^ggj
^^^
^^^^
^^^^
1892 from Fludlay, 0.,to Grover Hill, 14 miles, and projected and was Total gross eam'gs..$2,403,074 $2,370,133
$2,923,575 $2,900,624
under cimstruction State lino west to Foit Wayne, Ind., 18 miles. Suc- Oper'ngexp.A taxes 1,646,424 1,623,297
2,039,411
2,042,409
cessor to the American Midland sold in foreclosure in June, 1890. Trustees of mortgage are Washington Trust Co. of Now York and Allen
$861,213
$881,166
$746,836
$756,650
Net earnings
Stock authorized, $18,000 per mile; outstanding
ZoUars of Ft. Wayne.
558,104
581, 71
366,421
332,939
Interest on debt
$324,000; par $100.
380,520
(5) 317,100 (4) 253,680
449,470
Dividends
FItchbure.—Owns from Boston, Mass., to Fitchburg, Mass., 50
$835,451
miles; Greenfield to Troy, N. Y. 85 miles; Vermont to Rotterdam Jimc$875,204
$746,941
Total disbursem'to $782,409
tlon, 61 miles; Boston Barre & Gardner Railroad, Worcester to Winsur. $5,962 sr. $25,7«l
def. $106
$25,759
miles; South Ashburnham, Ma.ss., to BeUows Falls, Vl., Bal. for the year. ...df.
otaendon, 36
S4 mUes; branches, 71 miles; Mouadnook Railroad, 16 miles; total -(V. 62r. 380. 428, 760; V. 83, p. 968; V. 64, p.328, 367, 447, 798, 889.
—(V. 53,
p.
«72; V.
54, p. 119, 587, 643; V. 55, p. 462, 639, 679, 8fi4.)
EvanMvllle Xerre Hante
& Chloaco.—Owns
&
;
;
A
m
;
;
;
;
:
<
«o
INVESTORS'
SUPPLEMENT.
fVoL. LV.
RAILROAD STOCKS A2TD BONDS.
>fOVKllBEF, 1892.
#1
confer a Kreat favor bj glTlnc Immediate notice of any error discovered In tbe*e Tables.
Bond*— Prinol
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amoont Rate per When Whpiv P*vable, and by pal, When Dae.
of
Par
Sloekt—Latt
Por explanation of column headiiiffs, &c., see notes of
v'uom.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
on flrat page of tables.
Sabacrlbers
Mrlll
RAILROADS.
<e Fere Marmtelle.—( Concluded.)
Port Huron & Northwestern— Ist mortgage
Flint
1st M.on Port. Huron Dlv.,for $3,500,0OO,gold.c*
Equtpiu't bonds, $40,000 due annually Nov. 1.0*
JFlorida Cenlnil <t Pen.— lut M. $5,22ti p. m, gold.c*
2d M. (1st on ext.,92 miles) $5,220 perm., gold.c*
Florida Central & Peninsular Terminal bonds
218
241
575
667
— lstM.,8.f.,notdn.c*
"io
Cons. M. for $500,000 ($300,000 res'd for Ist M.)o
fort Wayne (£ Jackson Common stock
Pref. stock (8 p. c), 5ia p. o. rental Lake Shore...
fort Wmlh of Denv. Ct(y— Ist M., g., $18,000 p. ni.o'
26
98
98
454
Fonda Johnstown
tt:
GloveritvUle
—
Equipment bonds
Pan Handle RK. Ist mortgage
15
15
fort Worth c« Uio Or.— 1st JA., gold, $20,000 p. m.o*
Galveston Harrisb. <£ S. Antonio 1st M.,g., land gr.c*
2d mortgage, Harrisb. and Houston to San Ant.o*
Wcst.Dlv. lstM.,g.,8anA.toEli'aso,G36 m.Abr.o*
2d mortgage (see remarks)
o*
Catveston Houston <ei/«Mrf. o/ 1882— Ist M., guar. .0
•deorgetown tt Western 1st mortgage, gold
c
Otorgia Carolina (£ Northern IstM., gold, guar.c*
—
—
Storffia
—
Co.- Tr'Btb'ds,8.f.,dr.atll0aft.July,!)2,g.c*
thorgia Midland <« On//— Ist M., g. ($15,000 p.m.)c*
4leorgia Paciflo—\»t M., $10,000 p. m..gold. Int. gu.
Oon. 2d M. ($9,000 per mile) gold, interest guar.c"
<7on. 2d income, non-cum, ($9,000 p. m.) gold .o&r
£quip. mort., guar. R. <fe !>., g., s. t., sub], to call.
Squip, M., g., p. <& 1. gna. R.&D., sul^Ject to caIl..o*
,
-Car trusts
.
1870 100 *o.
1881 100 &o.
100
100
1881
1,000
1889
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1888
'71-'80
225
671
671
50
36
268
"99
566
566
566
1880
1881
1881
1883
1887
1889
1,000
1887
1,000
1886
1,000
1882
1,000
1888 500 &c.
1888 500 <to.
1889
1,000
1891
1,000
100
77A80
1,000
1,000
1887
Peninsula.—Owns
extending from Savannah, Ga., to Columbia, S. C, 136 miles. The
Florida Ceutriil A Peninsula guarantees to complete by September,
1.893, a lino from Hart's Roads to Savannah, 110 miles, to connect the
systems, and until that time the roads will be operated separately.
It is said the new line will shorten the distance from Savannah to Jacksonville by 40 miles. Sec. V. 55, p. 177, 215, 503.
Stock.— Stockbolrlers voted September 15, 1892, on a proposition to
reduce the capitalization, l)uild exton.sions, etc. (V. 55, p. 297). The
4Sommon stock is $20,000,000, par $100; 1st preferred, 5 per cent
cumulative, .$1,.")S'2,000; 2d preferred, 5 per cent non-cumulative,
4,500,000. Bonds.— Car trusts 7s, June 13, 1892. $177,698, due in
tve years. Trustee of first mortgage of 1888, Central Trust Company,
of New York. The new extension mortgage is for .$500,000, and covers
In July, 1892, Interest at 5 per cent was guarthe land grant.
anteed from Oct 1, 1893, on $2,033,000 bonds of the South Bound RR.
O). See So. Bound.
Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months), gross
$336,627 against $296,396 in 1890-91; net $64,811, against $47,636.
In year ending June 30, 1892, gross earnings on G60 miles were $1,«45,655; net, .ti.>51,488 taxes, $64,500; interest $163,714; balance,
«urplus. $32:s,272. In year 1890-91 gross on 596 miles, $1,341,879
;
;
net, .$330,165.
(V. 49, p. 300; V. 55, p. '22, 145, 177, 21,=>, 297.)
Fonda JolinHtoHrn dc Glovernvllle.—Owns from Fonda, N. Y.,
te Nortbville. 26 miles. The stock is .$300,000; par, $100. In November, 1892, purchased by N. Y. Central parties, au<l extensions said (to
fce projected. V. .55, p. 856. Loans ami bills payable $62,196 July 1,
2892. In year ending June 30, 1892, gross earnings, $229,383 net,
•»88,257. (V. 53, p. 641 ; V. 55, p. 589, 856.)
Port IVayne Jackson.—Owns from Jackson, Mich., to Fort
Wayne, Ind., 98 miles. On August 24, 1882, leased perpetually to
Iiake Shore & Mii^liigan Southern at a rental of $126,027, equal to 519
per cent on the preferred stock, and after 1887 any net earnings over 8
«er cent on preferred stock to be paid as dividends on cotnmon stock,
ont not exceeding 2 per cent r, year.
Fort Wortli A. Denver City,— (See Map Tmwn Patiflc Denver it
'6ulf)—Ovin» from near Fort Worth. Texas, to Texas State line. 454
Jniles, and operates Pan Handle RR., 15 miles. The Union Pac. Denver
4fe Gulf owns $7,706,000 of this company's $9,375,000 stock; par $100.
•Bee abstract of mortgage, V. 45, jp. 4 10 (trustee. Mercantile 'Trust Co. of
Kew York.) In .March, 1891, $500,000 new bonds were authorized
by the Fort Worth & Denver Terminal Company. The stock of the Pan
Handle RR. is owned, and its bonds (except $7,000) are held by the
itrnstee of the U. P. Denver A Gulf consol. mortgage.
In year ending Ueceml)er31, 1891, gross earnings were $2,014,720;
met, $592,94Ci; llxcd charges, $197,030; balance, $95,916. In 1890;
net $795,359. (V. 51, p. 875; V. 52. o. 237, 428.)
4SToaa, $2,044,5(i2
Rio
In operation Fort Worth, Tex., to
Fort Worth
ffirownwood, about 146 miles; completed in August, 1891. The line
Is further projected to iron fields In Llano County. See V. 52, p. 81,
642. Mortgage trustee is Central Trust Company, New York. Stock
anthorized, $3,.500.000; outstanding, $2,923,300; par, $100.
From January 1 to Sept. 30, 1892 (9 months), gross earnings were
$255,297, against $192,108 In 1891 net, $58,762, aealnst $57,614.
In 1890, road being under construction, gross earnings were .$194,638;
In 1891 gross, $330,075; net $130,879; interest $137,(Bet, $91,238.
«84. (V. 51, p. 5(i9, 680; V. 52, p. 81, 351, 642.)
Galveston Harrlsburtc
Snu Antoulo.^See Map of Southern
Paeifle.)— Owns from Houston, Tex., to San Antonio, Tex., 21'7 miles;
ILaQrange Extension, 28 miles; branch, 8 miles; leases 12 miles; total,
266mnes. Western Extension, San Antonio to Rio Grande River, 636
;
A
;
A
Orandc—
;
A
miles; Eagle Pass Branch, 35 miles. Grand total, 937 miles.
Organization, Stock, Etc.— operated by the Southern Pacltlo Comrpany, which owns all but $580, s 12 of the $27,093,012 stock (par, $100.)
As to snit against the com lany for $600,000, see V. 54, p. 800. For
..«ult conceriiini; stoik held ny Southern Pacillc see V. 55, p. 1(X), 146.
Bonds. First mortgage covers 256 miles of road and 1,076,331 acres
•of land valued at alxiut $1,467,000.
It has a sinking fund of 1 per cent,
'but It Is optional with bondholders to surrender their bonds if drawn.
The Western Division second mortgage 68 are held by the Southern
Faciflo Company and by large holders or Southern PactHo securities, who
jiave agree(f uot to collect mterest after July 1, 1889, unless currently
«amed. The tlxed Interest charge Is thus reduced annually by $38 1,240. There is also $101,719 Texas school debt outstanding. Floating
^labilities Jan. 1, 1892, $2,080,701
lloating assets, $009,094.
Eaksings.- From January 1 to Sept. 30, 1892 (9 months), erom
f3j226,792, against $3,174,235 in 1891; net $044,708, against $731,-927 in 1891. In 1891 gross earnings were $-1,517,589; net $1,247,369;
«undn8 over llxcd charges, $94,683. In 1890 gross, $4,285,678: net
.#917,945. (V. 54, p. 800; V. 55, p. 100, 146.) -^^
—
;
3,125,000
200,000
3,000,000
428,000
f
iSc
(»)
307
Jacksonville to Chattahoochee, 209 miles; Tallahassee to St. Marks, 21 miles; Femaudlna to
Tampa, 241 miles; Waldo to Cedar Keys, 72 miles; WUdwood to Orlando, 53 miles; Hart's Road to Jacksonville, 25 miles; Jacksonville
Belt Line Railroad, 3 miles; other, 42 miles; total, 666 miles. Also has
operated since Jan. 1, 1892, under agreement, separately, the East
Elorida & Atlantic RR., Orlando to Ovledo, 16 miles. See also below.
History, Leases, Etc.— The Florida Railway & Navigation Company's
property was sold In foreclosure in 1B88 and reorganized l)y plan in
V. 46, p. 289. Several e.vtcusion3 have since been completed, and in
September 1, 1892, leased for 99 years the South Bound RR.,
dc
A O. N.T., 1st National Bank Oct 1, 18»e
A O. N. Y., Mor. Ex. Nat. Bk. Apr. 1, 1939
4 N. Boston, Intem'l Tr. Co. Nov.l,'93to'97
s S- J. A J. N. Y., Am. Excb. Bank, July 1, 1918
do
do
J. & J.
Jan. 1, 1930
6fr
do
do
300,000
J. A J. N. Y., St Nloh. Nat. Bk". July 1, 1900
200,000
A. A O.
do
do
Apr. 1, 1921
6
436,132
2,201,416 5>sp. an. M. A S. N. Y.,Fann. L. ATr.Co, Sept 1, 1892
8,176,000
6g. J. A D. N. Y., Union Tr. A Best Deo. 1, 1921
M.A S.
do
do
Mcli. 1, 1899
160,000
5
do
do
July 1, 1929
5
J. A J.
225,000
2,923,300
5K- J. A J. N. Y., H.B.HoUln8 A Co. July 1, 1928
4,756,000
eg. F. * A. N.Y.,So.Pao.Co., ABost. Feb. 1, 1910
do
do
June 1, 1905
7
J. A D.
1,000,000
13,418,000
5 K- M. A N. N.Y.,S».Pac.Co.,23 B'rd May 1, 1931
J. A J.
July 1, 1931
6,354,000
6
A.
5
O. N. Y., Mercantile Tr. Co. Apr. 1, 1913
2,000,000
200,000
1917
5 g. M. 4 N. N. Y., Bk. of New York.
5,360,000
6g. J. A J. N. Y.jMerc.Tr.Co. A Bait July 1, 1929
4,000,000
6g. J. A J. N. Y., 4th Nat. Bank. July 1, 1937
1,494,000
6g. J. A J. N. Y., Central Trust Co. July 1, 1926
do
do
Jan. 1, 1922
5,660,000
6|. J. * J.
s|- A. A O. Apr.,'92, coup. last paid Oct 1, 1923
5,002,338
Oct 1, 1924
5,042.333
6g. A. & O.
1,273,000
sl- F. A A, N. Y., Central Trust Co. Aug. 1. 1903
do
do
May,'92-1906
540,000
6g. M. A N.
M. A 8. N. Y., Atlantic Tr. Co.
4,200,000 llperan Q.^. N. Y., Am-Ex. B'k A An|^ Oct 15, 1892
J. A J.
do
do
2,300,000
6
'97,1910,1922
do
200,000
J. A J.
do
Jan. 1, 1922
5
Galveston Houston A Henderson of 1882.^)wiui from GalA.
7
5g. A.
5
M.
$104,000
$1,000
1,000
1,000
1,000
....
—
Georgia Railroad rf Banking Co. Stock
Bonds, not mort. ($300,000 mature in 1922).o*4r
Bonds, not mortgage
r
Florida Central
146
1879
1889
1887
1888
1890
veston, Texas, to Houstoii, Texas, 50 miles. The road was sold in foreclosure December 1, 18'7l, and again August 1, 1882. Control Is
A Tex. Leased for 99 years to the International
A Great Northern and bonds guaranteed by that company. The lessee
it is said pays interest and turns over to this company all surplus
earnings over expenses, taxes, etc. Stock, $1,000,000; par, $100. In
1891 gross earnings were .$449,992; net $63,621; taxes, $10,629.
Northern.—Owns road in operation from
Georgia Carolina
Monroe. N. C. to Atlanta (Inman Park), Ga., 268 miles; completed
The line Is part of the "Seaboard"
to Atlanta in April, 1892.
system, and the bonds are guaranteed (by Indorsement on each
bond) by the Seaboard A Roanoke and Raleigh A Gaston railroad
companies. They cannot be redeemed before maturity. The Mercantile 'Trust A Safe Deposit Company of Baltimore is trustee of the mortgage; see abstract of same in V. 49, p. 239. Stock authorized, $1,000,000; outstanding and paid In, $527,126 (p.ir $100), mostly owned by
the lessees; advances by lessees January, 189.', $325,658.
From
January 1 to August 31, 1892, gross earnings were $136,358, against
$73,552 in 1891. R. F. Hoke, Athens, Ga., President— (V. 54, p. 889.)
Georgia Company.—This company was formed In 1887 to control
the Georgia Central Railrcid A Banking Company, of whose stock it
owns $4,000,000, all pledged to secure its trust bonds. Its own stock
of $12,000,000 is all owned by Richmond & West Point Terminal, which
has deposited it, together with .$3,447,000 of collateral trust bonds, as
part security for its own collateral trust of 1889. See Terminal Co.
Georgia
Gulf.—Owns from Columbus, Ga., to McDonough, 99 miles. Completed In September, 1887. Operates Columbus
Southern, Columbus to Albany, Ga., 88 miles. Incomes, 6 per cent
non-cumulative, $105,000. Stock authorized, $2,000,000; outstanding, $1,'245,000; par. $100. Car trusts, $53,900; due $818 monthly.
In year ending Juno 30, 1891, gross earnings were $212,222; net
over expenses and taxes, $70,434 Interest, $89,460.
Georgia Pacillc.— r.S«e Map of Richmond A West Point Terminal.)
Atlanta. Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer,
Ala., 19 miles; small branches, 18 miles; Deer Creek branch (three-feet
gauge), 22 miles; other Uues, 48 miles; total, 560 miles.
Lease, Etc. Leased to the Richmond A Danville for 20 years from
January 1, 1889, (with privilege of renewal): rental net earnings, and
the Richmond A Danville agreeing to make up any deficiency in these
to meet llxed charges, all such advances, however, to be a preferred
charge next ahead of the income bonds (see V. 47, p. 744).
In June, 1892, the Richmond A Danville and the Richmond Terminal
were placed In receivers' hands, but Interest on Ga. Pac. (Company's
bonds was paid as usual July 1 and August 1. Interest due Oct. 1, 1892.
on the 2d mortgage was not paid.
On June 1, 1891, leased the Central Railroad of Georgia (whicli see),
guaranteeing 7 per cent on stock, but the legality of the lease was contested and the (jcutral placed in receivers' hands.
STOCK.— Is $8,555,000 (par $100), and $4,378,432 of it is held by the
Richmond A West Point 'Term. Co., which owns also $1,397,621 income
5s of 1888, and has deposited them, as well as the stock, as security for
its collateral trust of 1889.
Bonds.-The second consolidated mortgage (trustee. Central Trust
Company of New York) secures $5,400,000 second mortgage bonds,
and also, subject to these, $5,400,000 second mortgage non-ciimulatlvo
Incomes, botn issued at $9,000 per mile. The equipment mortgage
bonds of 1889 and 1891 are payable by a sinking fund and are guaranteed as to principal and Int. l>y endorsement on bonds by Rich. A Dan.
There are also $109,000 2d mort. Incomes. As to default, see above.
Earnings.- In year ending June 30, 1891, gross were $1,889,315;
operating expenses, $1,902,132; detleit, $12,816; charges, .$867,580;
improvements and betterment. $426,992; oxtraorillnary exnendituree
for repairs ch.ai'geat)le to previous vears, $202,141; total aettclt, $1,509,.53l, In 1888-89 cross. $1,330,698: net. .«147.244. (V. 49, p. 235:
V. 52, p. 46-2, 862; V. 53, p. 860.)
vested In the Mo. Kan.
A
mdland A
;
—
—
Georgia Railroad A Banking Company.—Owns from
Augusta, Ga., to Atlanta, Oa., 171 miles; branches to Washington
and Athens, 58 miles; Macon A.4^ugusta PR. (proprietary road), Camaok,
Ga., to Macon, Ga., '74 miles; trackage, 4 miles; total, 307 miles.
Okoanization.— Owns also oiie-half the stock of the Western Railway
of Alabama (the Central Railroad of Georgia owning the other half),
and has a one-llfth Interest in the Port Royal A Augusta and a thlrtytlve one-huudredths Interest in the Atlanta A West Point (which see).
This company, besides the railroad property Indicated above, has a
banking department. In April, 1881, it leased Its own railroad (307
miles) and its Interest In the other railroad companie.s for 99 years to
W. M. Wadley and a.s.sociates. for the Central of Georgia and the Louisville A Nashville railroads, at $600,000 per ye.ir.
Dividends since 1880— In 1881, O^a per cent; In 1882, 1014; from
1883 to 1887, 10; In 1888, 10%: from 1889 to July, 1892, both
Inclusive, at rate of 11 per cent per
annum
(2»4
per cent quarterly).
CoMPANv'8 Report.— In year ending March 31, 1892, rental, etc.,
was $600,095; dividend (No. 6) from t>ank. $50,000; total. $650,095;
etc., $179,516; dividends paid (11 per cent), $462,000:
balance, $8,579. Net earnings of bank for year were $65,380, and
total bank surplus March 31, 1892, after payment of $50,000 dividend
deduct Interest
was $203,067
aei
:
INTESTOES' SUPPLEMENT.
6*2
Subscribers will confer a great favor by
RAILROADS.
For explanatton of oolumn headings,
on first page of tables.
^vlng immediate
Miles
&e., see notes
Georgia S<mthem it Florida.— Stock
1st mortgage ($12,000 p. m.), gold
Qettj/shtirg (£ Ilarrishurg
Date
Size, or
$100
1887
....
1891
1,000
335
335
335
367
367
1869
1869
1891
1884
1884
1,000
1,000
1,000
1,000
1,000
37
Must. G. R. & Ind. KR. 1st M., gold,traf. guar.o*
Or. Tower di Cape Girardeau— Sfk. $500,00() auth..
Ist mortgage
29
Grand Tower d Oarbondale—8toc1i
Oreat Noi-them— Stools., pref. (no com. stock Issued)
Collat. Tr. mort., red. at 100 after Sept.,'93,gold.
....
Bt. Paul Minn. & Man.— Stock (rental 6 p. c. in gold)
Miu.<&Man. l8tM.l.gr.,8.f.,g.,dr'nat 105.C* 620
8t. P.
2d mortgage, gold (does not cover land-s)
c*
620
Dakota Extension 1st mort. ($12,000 p.m.),gold 1212
1886
1,000
1889
1,000
189'2
$4,275,000
3,420,000
600,000
1,000
1st mortgage for $.565,000
1,000
50
Grand Rapidx
<£ /jw/iana— Stock
o*
let M., land grant, g., s. f. (gnar. by Pa. RR.)..c*
1st M.,g., ($505,000 wore land grant s.f.not drn).c*
1st mort., extended, gold, guar, by Pa.
c*
2nd mortgage, redeem, at 105 till Aug. 1, 1894.0*
o&r
General mortgage for $13,000,000
KB
Consol. mort. ($13,344,000 are 68), gold
cAr 2,452
Montana Exten. IstM. ($25,000p. m.),gold.c*&r 802
Pacttto Extension M. for X6,000,000, gold..c*.tr
513
Mlnneap. Un.ER.lstM.,gold,gu.($650,(X)0are Ss)
East of Minn. IstM. ($50,000 p. m.), g.,gn..c*Ar
Montana Cen. Ist M. g. ($6,000,000 are 68) gu. en
,
70
261
J.
<Sc
A.
&"o
J.
&
4,986,081
7'g.
100
J.
J.
4,096,000
7 g. A. & O.
1,279,000
4'sg, J. & J.
M. & N.
3,000,000
6
M. & 8
4,625,000
5
275,000
6
750,000
5 g. J."& J
350,000
350,000
J. & b
50,000
20,000,000 5 per an. Q
F.
15,000,000 .,
* S- M. A H
20,000,000 6 per an. t,
F.
3,100,900
7 g. .1. <V. .1
8,000,000
6g. A. &
M. A N
5.676,000
29,056,000 41fl & §g. .1. A .r
7,616,000
.1.
A I)
£3,000,000
4 g. .1. & .1
$2,800,000 5&6g. .1. & .1
4,700,000
5 g. A. A
8,000,000 5&6g. J. A J
I
Macldnaw loan
—
ioo
100
1879
1879
1880
1883
1887
1890
1882
1888
1887
6g.
5'
(1)
100
100 &c.
1,000
1,000
1,000
l,000&c
*100&c
$1,000
l,OO0&c
l.OOO&c
LV,
any error discovered In these Tables.
Bonrfs— PrinolINTEREST OR DIVIDENDS.
pal.^Mlen Duo
Amount Rate per When
of
of
Par
Road. Bonds Value. Outstaudlni;
Cent.
Payable
285
35
*o
—
notice of
[Vol.
VVTiere
Payable, and by
Whom.
Jan. '92 conp. last paid
Sloeks—haei
Dividend.
July
do
do
do
Mar.'92, coup, last paid
N. Y., Wlnslow, L.
A Co.
Oct.
Oct.
1,
1,
1,
1,
Sept. 1,
1899
July
Nov.
N. Y., Wlnslow, L. ACo.
do
do
do
1927
1.
1926'
Philadelphia
194L
1899
1924
July
1928.
1899-
1,
Jan." iViaiff
N. Y. Office, 40 Wall
St.
do
do
do
do
New York and London,
do
do
New York, 40 WaU St.
do
do
do
do
N.Y.&Lon.,BaringBro8
New York. 40 Wall St.
Nov. 1892
1903
Sept.
Nov.
July
1893
1909
Oct.
19091
Nov.
July
1910
1933
June
1937
July
July
N.Y.40WaU; Bos.,Lee,H Apr.
New York, 40 WaU St. July
19401922-
19Q»
1937.
Extension to Pacific Coast, 780 miles, is in progress, and on Aug>
Earnings of Railroads.— From July 1, 1892, to Sept, 30, 1892 (3
months), gross earnings of the railroads were $352,286, against 15, 1892, was opened to Spokane, Washington. (See V. 55, p. 58.)
In
year
against $91,444.
$388,648 in 1891; net, $93,502,
History, Stock, Leases, Etc.— Tills corporation in February, 1890<1891-92 gross earnings $1,585,508; net, $313,642; total, not including leased the St. Paul Minneapolis A Manitoba for 999 years, assuming its
Interest and dividends received, $375,326. In 1890-91 gross, $1,891,- funded delit and guaranteeing 6 per cent per annum in gold on its $20,692; net, $658,475; other income, $60,619. Deficit to lessees on lease 000,000 stock, "rhe Great Nortiiern's authorized capital is .$40,000 ,000,
was in 1888-89, $21,066; in 1889-90, $33,959. Profit In 1890-91 was of which $20,000,000 is preferred 6 per cent non-cumulative, and thl»
$118,679. Deficit In 1891-92, $249,390. Due lessees June 30. 1891, only is at present outstanding. The Manitoba stockholders were offered,
$600,976. (V. 53, p. 289; V. 55, p. 461.)
the privilege of taking it at 50, the remaining 50 per cent being paid by
Georeia Southern ic Florida.— Owns from Macon, Ga., a transfer to the Great Northern of all the securities owned by the Manto Palatka, Fla., 285 miles, and operates the Macon A Birmingham itoba Company, amounting to over $22,000,000. The securities acquired
(which see), 95 miles. Completedin January, 1890. Built by the Macon by the Great Northern have been placed in trust to secure the unity of
Construction Company. In 1891 Mr. Willis B. Sparks, President of this the system. (See V. 49, p. 435 V. 50, p. 205.) No increase of the precompany, was appointed its receiver, and also receiver of the Macon ferred stock can be made without the consent of the holders of threeConstruction Company. The Jan., 1892, coupons were paid in May 1, fourths the preferred stock outstanding.
The St. Paul Minneapolis A Manitoba was organized May 23, 1879.
1892 and the July coupon went to default. (See V. 52, p. 796; V. 53,
An agreement with Phila. & Reading for the consolidation of lake
p. 95.) In Octoli'er. 1892, an application to Lssue receiver's certificates
was refused and foreclosure proceedings instituted. V. 55, p. 503, transportation companies was made in August, 1892. See'V. 55, p. 332,^
679. A bondholders' committee has lieen appointed.— (See V. 55, p.
Lands.— It had a land grant of 3,848,000 acres, and acquired the
722, 856. Trustee of mortgage is the Mercantile Trust A Deposit CS). Minneapolis A St. <31oud Railroad grant, 476,864 acres. Land sales are
of Baltimore Stock is $4,275,000; par. $100.
applied to the redemption of 1st mortgage bonds at or under 105.
From July 1, 1892, to Sept. 30, 1892 (3 months), gross earnings were
The land sales for year ending June 30, 1891, were 110,951 acres, for
$181,729, against .f 192,002 in 1891; net, $4S,474, against $72,725.
$814,092, and 256 town lots, for $14,926. The net amount due on land
In the year ending Juno 30, 1892, gross earnings were $768,447; net, contracts June 30, 1891, was $1,222,720; lands unsold, 1,636,656 acres.
$243,661. In the year 1890-91, $773,863; net, $240,.501; surplus
Itt
Dividends, Ac— Dividends on Great Northern preferred stock
above charges, $58,129.-(V. 53, p. 95, 289; V. 55, p. 503, 679, 722, 856.) November,
1890, 1 per cent; in 1891,4%; in 1892. February, IH; May,
Indiana.— f See Jfan of Pennsylvania RR.)— IV, August, II4; Novemt)er, \H.
Grand Kaplds
Owns from Fort Wayne, Ind., to Mackinaw City, 367 miles; Manistee
Dividends on Manitoba stock since 1880 In 1881, 3 per cent; In 1882,
Branch, 25; other branches, 40 miles; total owned, 432 miles leases, 9; in 1883, 8; in 1884, 7>u; in 1885 and since, 6 percent yearly.
and operates Cincinnati Richmond A Fort Wayne RR., 86 miles TraPrice OF Preferred Stock.— In 1890,60386: In 1891, 72®124Jfl;
verse City RR., 26 miles; Muskegon Grand Rapids A Indiana RR.,37
In 1892 to Nov. 18 inclusive, 119®144.
miles— 149 miles. Total, 581 miles.
Bonds.- In 1892 tlie Great Nortlieni Issued its collateral trust bonds.
HiSTOKV AND Stock.— Company formed in 1854. It is operated in for$15,000,000,8ecuredbydepositwlth the trusteeof £3,000,000 Pacific
the Interest of the Pennsylvania Railroad Company, which holds the Extension 4s of the St. Paul Minn. A Manitoba Ey. Co. Any or all of
right to vote a majority of the stock until July 1, 1941. As to de- these l)0uds are subject to call for redemption at par and interest at
fault Sept. 1, 1892, see below.
any tiire after Sept. 1, 1893, upon three months' notice. V. 54, p. 525..
The St. Paul Minneapolis A Manitolia Ist mortgage 78, which are
Bonds.— Of the original $5,375,000 1st mortgage 78 $3,934,000 were
being rapidly redeemed with land sales, are offered till Jan. 1. 1893,
guaranteed by the Penn. RR. and $4,439,000 were land grant bonds.
In 1891 the company agreed to extend all its 7 per cent first mort. the privilege of exchange for consolidated mortgage 4 Hj per cents, dot
bonds at i^ per cent for fifty years from July 1. The extended bonds lar for dollar, a premium of 5 per cent in cash to be paid on bonds exareendorscd with the guaranty of the Pennsylvania Railroad Company clianged. Tiie consolid.ited bonds are not subject to call before mato purchase the coupons as they mature, and the bond itself at maturity. turity. (V. 54, p. 548, 684, 924, 1011
The St. Paul Min. A Man. consol. mort. of 1883 is for $50,000,000, ol
Grand Rapids company. The extended bonds
If not paid by the
which $19,426,000 were reserved to pay prior liens. The mortgage on.
have no lien on the land gr.int.
The Muskegon Grand Kapids & Indiana bonds have a traffic guarantee the Montana Extension is for $25,000,000, to provide for extensions,.
applicaltle to their interest payment. Pennsylvania RR. owns all the 2d $15,000 per mile being allowed for second track. See abstract of mortmortgage bonds except $300,000 held as collateral for the Mackinaw gage in V. 45, p. 342; Central Trust Company of New York, trustee.
The mortgage, for £6,000,000 on the Pao. exten.sion (trustee of mortloan. Of the 5 per cents outstanding the company itself on January 1,
1892. held $910,000. There is a real estate mortgage for $48,250. gage Central Trust Company of New York), provides for bonds at
On Jan. 1, 1892, bills payable were $426,666, and coupons held by £6,000 per mile in Montana and £7,()O0 per mile we.st of Montana;
£3,000,000 of this issue are pledged to secure the Great Northern's
Pennsylvania RR. Co. $203,220.
Default was made Sept. 1, 1892, on general mortgage coupons. It was collateral trust bond-s. See abstract of mortgage, V. 52, p. 82.
The Eastern Railway of Minnesota runs from Hinckley northward
hoped the default would be temporary, but some adjustment of the debt
70 miles, to a point near Duluth; the mortgage covers equipment,
may have to be made. See V. 55, p, 373.
terminals and elevators. Montana Central bonds cover several roads.
Lands.—The company has a land grant and sold in 1891 21,422 acres
both thesefor$191,094, and certain timber rights for $161,500. The lands unsold (See adv. Chron. Deo. 12, 1891.) The Manitoba guarantees
on Jan. 1, 1892, were 308,422 acres. The assets were $1,229,771 bills issnes, and the Great Northern assumes the guaranty.
Earnings.- From July 1, 1892, to Oct. 31, 1892 (4 months), the
receivable, etc., and $779,799 cash.
Earnings.— From January 1 to Sept. 30, 1892 (9 months), gross estimated gross earnings of the St. Paul Minneapolis A Manitoba on
earnings of tlie whole system were $2,4 10,900, agst. $2, 96,569 in 1891; 3,350 miles were $5,096,943, against $4,523,900 On 3,035 miles In.
1891, and for the entire Great Nortnern system $6,032,842, against
net, $695,470, against $687,383.
$5,423,607 in 1891.
Annual Report— Report for 1891 was in Chronicle V. 54, p. 885,
For the fiscal year ending June 30, 1892, the estimated gross earnshowing results is follows, the rentals and miscellaneous In 1891 in- ings of the Manitoba on 3,350 miles were $12,991,251, against $10,cluding $148,140 for bettennents and $29,372 for extending bonds. In 555,493 on 3,035 miles in 1890 91, and of the total Great Northern
the year 1891 the Pennsylvania RR. Co. under its guaranty of first system on 3,6«2 mUes were $15,458,928, against $12,661,844 on 3,342.
mortgage purchased $275,380 coupons thereon. See V. 54, p. 408.
miles in 1890-91.
1888.
1889.
1890.
1891.
Annual Rei-ort.— Fiscal year ends Jime 30. Annual meeting is held
409
Miles operated....:...
408
428
432
at St. Paul on the second Thursday in September. The annual report
Gross income
$2,232,788 $2,291,166 $2,602,415 $2,400,414 for 1890-91 was published in the Chronicle, V. 53, p. 792, 797.
Net over exp'8 A taxes $704,191
$766,714
$859,382
$694,788
The following tallies shows earnings of the lines leased from St. Paul
Interest on bonds
.$719,428
$737,425
$739,700
$751,929 Minneapolis A Manitoba Company, and the Great Northern Income
Int. on floating debt..
47,443
54,553
58,630
52,186 account for 1890-91:
Kentalsandmlsoel...
17,138
3,168
30,760
208,431
1830-91.
1888-89.
1889-90.
1887-88.
Passenger earng's. $1,823,262 $1,869,865 $1,774,568 $1,876,960
Total
$784,009
$795,146
$829,090 $1,012,546 Freight
7,628,011
6,075,637
6,915,167
7,277,333
776,743
461,310
684,265
641,064
Balance
aef.$79,817 def. $28,433 sur.$30,292 df.$317,758 MaU, exp., r'nts,Ao.
;
:
&
:
;
;
)
— (V. 50, p.
799;V. 52, p. 426,898; V. 54, p. 276, 886; V. 55, p. 373.)
Tot. gross earns. $9,561,905
Great Northern.— CSce jlfaj).;—Operates under lease the St. Paul
Minneapolis A Manitoba Railroad, operating 2,808 miles of road. Also Malnt.of way, Ac. $1,445,986
497,766
owns the entire stock of the following lines, but keeps their earnings Maint. ofcars
separate, their income appearing in the statement of earnings below
only as revenue from stocks and bonds owned or as other receipts
The WlUmar A Sioux Falls, WlUmar, Minn., to Sioux Falls, Dak., 147
miles; the Duluth Watertown A Pacific, Watertown, Dak., to Huron,
Dak., 70 miles; the Minneapolis Union, 2'5 miles; tlie Eastern of MinneBOta, 72 miles; the Montana Central, Great Falls, Mon., to Butte, Mon.,
261 miles. Including branches; total, 567 miles. Other lines have since
teen oompletedandaoiiulred.maldngthe total Mar. 1, 1892, 3,682 miles.
998,159
457,073
263,921
$8,586,566
$1,133,372
424,426
1,530,231
1,197,413
466,033
248,591
$9,374,000 $10,281,714
$776,506 $1,243,001
513,670
487,517
1,628,645
1,478,640
1,302,052
1,242,490
476,587
531,620
299,651
274,351
Total expenses. $5,419,986
$4,141,919
56-68
$5,000,066
$3,586,499
53-23
$4,791,124
Motive power
Transportation
General
Taxes
Neteamings
P.c.of exp. to earns.
1,757,198
$i,58'2,876
*«
.'
,
$5,463,606
$4,818,108,63'14
1
NOVEMBEB,
1803.J
EAILEOAD STOCKS AND BONDS.
—
,
;
nfYESTORS' SUPPLEMENT.
64
Snbacrlbers
irlll
[Vol. LV.
confer a great favor by elvlng Immediate notice of any error discovered In tbese Table*.
KAILEOAD8.
Miles
of ooUimji headings, &o., see notes
of
on first page of tables.
Road.
For explanatloii
<t St. Paul— Common stock
Preferred stock (see text)
Consolidated mortRage ($2,500,000). gold
2d mortgage, Income, non-cumulative
^df rf- Ch icago— Stock
Creen Say Witiotia
221
221
- 62
111
292
o
o
Date
Size, or
INTEREST OR DIVIDENDS.
Amount
Rate per When Where Payable, and by
Bonds Value. Outstanding Cent. Payable
Whom
Par
of
$100
100
1892 500 (fee.
1892
1,000
100
1891
1881
i',6oo
eulf West, d T&raj!.— Ist M. ($20,000, p. m.) gold.
c*
Bannibal <i St. Jose2>h—Cousol. mortgage
Harlem Itiver <e Porlchester—Soe N. Y. New Have N &H AKT.
54
50
BamsO. Forttm'th Ml. Joy <t iajic— Stook,7p. c.gu
54 1853 500 &c.
1st mortgage (ext'd In 1883), int. guar. Pa. RR..r
100
Hartford it Connecticut Western— Svock
i'o'i
1883
1st mortgage
1,000
Henderson Bridge iJB.— See IX)0I8V1LLE & Nash VILLE.
Hereford— See Maine Centeal.
100
Houaatonic— Stock, common
100
Preferred stock, 4 per cent non-cumulative
Coneol. mortgage, not payable till 1910
74 1880 500 &c.
c*
164 1887 T.,000
New consol. mortgage (for $3,000,000) gold
Bouston Central Arkansas t£ Northern — Ist mort..
1889
Mortgage of 1890
1890
Boust. East <t West rejos— 1st M. ($7,000 p.m.),gold.
192 1878
1,000
c*
192 1883
2d mortgage, land grant, $5,000 per mile
1,000
Botist d Tejt. Cent.SR.—lstW..l.gr.,g.,TeA. at llO.c'&r
453 1890
1,000
Consol. M.jland gr., gold, int.guar. by So. Pac.c*&r 453
1890
1,000
c&r 453 1890 1,000
'Gen. mort. gold. Interest guar, by So. Pao
Debent., prln. and Int. guar, by So. Pac. Co.("&r
1890
1,000
Debent., prin. and int. guar, by So. Pac. Co..c'*r
1890
1,000
Bud.Stis.BridgediN.I!.Sy.—Um..V10,000,0OO.o't!X
1888
1,000
,
$8,000,000
2,000,000
2,500,000
3,781,000
400,000
2,220,000
8,000,000
F.
F.
m
!«•
J.
J.
1,182,550 7 per an. J.
700,000
4
J.
2,635,700 2 per an. F.
608,000
5
J.
&
&
&
&
&
&
&
&
&
A.
A.
D.
D.
S.
New
N. Y.,
Bonfis— Prlnolpal, When
York.
earned.
when
Due.
Stocks—hast
Dividend.
Feb.
Aug.
1,
1,
1911
1906
(«)
N.Y., Mills Building.
Dec.
N.Y.,Bk.ofNo.Amerlca. Mch.
J. Phlla., Company's Office
J.
do
do
1,
1,
1941
1911
July 10, 1892
July 1, 1918
A. N. Y., Cent. N.E. & West. Aug. 29, 1892
J.
Hartford.
July 1, 1908
<f-
,
35,000
2,867,800 See text.
100,000
4
2,839,000
1,078,000
917,800
5
1,344,000
750,000
I'7,735,000
3,634,000
4,303,000
705,000
411,000
(1)
ll
y-
4
5g.
& O.
& N.
& D.
& J.
& N.
& J.
& J.
& O,
& O,
& O,
& O
& A
Bridgeport, Conn.
Apr.
N. Y., Farm. L. & Tr. Co. Nov.
Last coup, paid May,'86
1,
1,
1910
1937
July 1, 1920
1898
Jan. 1, 1918
N.Y., Office Mills BiUldg July 1, 1937
do
do
Oct. 1, 1912
do
do
do
do
do
do
In default.
Apr.
1,
Oct. 1,
Oot. 1,
Feb.
1,
1921
1897
1897
1938
miles, and branches, 10 miles New Haven & Derby, 17 miles total
OBBAT NOKTHEBN RAILROAD INCOME ACCOUNT 1890-91.
$4,818,108 operated, 190 miles. Formerly operated In interest of N. Y. & New
Net eammes
285,704 England, but in October, 1892, leased to the New York New Haven &
Interest on Bonds owned
21,036 Hartford for 99 years from July 1, 1892, at 1 p. o. yearly on preferred
Dividends on stocks owned
185,705 stock. Stockholders have the option of exchanging eight shares of
Eientals of leased lines
118,586 their pref. stock for one of New Haven stock. See V. 55, p. 463, 679.
laterest and exchange
;
198,480
114,424
Bills receivable
Otber income
Miscellaneous
$5,742,043
4,084,672
650,000
18,750
Total disbursements
Surplus
$4,753,422
$988,621
Total receipts
Paid restal of St. Paul Minn.
Dividends (3 14 percent)
—(V. 52,
p. 82, 203,
& Man. RE
351, 973 ; V. 53, p. 95, 126,156,368,407, 474,
p. 525, 683; V. 55, p. 59, 332.)
777, 792, 79T, 880; V. 54,
Winona &
Creen Bay
St. Paul.— Road owns from Green Bay,
Wis., to Marshland, Wis., 209 mUes; branches, 13 miles; trackage to
Winona, 4 mUes; total, 226 miles. Also lea.'ses the Kewaunee Green Bay
Western RR., Kewaune to Green Bay, 30 miles. The Winona &
flouthwestem (which see), Winona to Osage, 117 miles, is operated iu
the same interest. Extension of the Winona <fe S. W. to Omaha, 258
miles additional, and the building of the Green Bay St. Paul & Mluue.apolls from Alma Centre to St. Paul, 120 miles, projected.
HiSTOKY.— Formerly the Green Bay & Minnesota, sold in foreclosure
Jfarch 12, 1881. In 1886 three overdue coupons on first mortgage
^vere funded and the company resumed payment, but defaulted August,
1889. In August, 1892, reorganized without foreclosure by plan of Feb.
24, 1892. See Scpi'Lement of JiUy, 1892, and V. 54, p. 443, 486, 643,
£00. Delaware Lackawanna & Western parties are interested in the
mroperty. In August, 1890, the Farmers' Loan & Trust Company,
srustee of the first mortgage, was appointed trustee in possession.
In August, 1892, a tramc agreement was made for a through freight
ftine to the east over the Toledo Ann Arbor & North Michigan via the
JJelaware Lackawanna & Western. See V. 55, p. 331.
The Green Bay St. Paul & Minneapolis was organized in July, 1892,
t)y parties identified with the Green Bay Winona & St. Paul, to build
to SiL Paul, 120 miles, stock and bonds to an aggregate of $2,500,000
feeiag authorized. See V. 55, p. 251.
8R(CK.—Tlie preferred stock Is entitled to 5 per cent, if earned, then
tMaanfm to 5, then preferred to 2 per cent additional, and common to
any balance.
EAiiNiNGS,— In year ending June 30, 1891, gross earnings were
#111,33«; net, $37,333. In year 1889-90 gross $330,319; net, $62,V47. BasMie) Sloan, President. (V. 53, p. 712, 969 V. 54, p. 443, 486,
«43, 800; V. 55, p. 255.)
Texas.—Port Lavaca to Cuero, Texas, 56 miles;
4»nlf Western
Wifltoria to BeeviUe, 55 miles; total, 111 miles, a Southern Pacific
JBiMierty, the Morgan's Louisiana & Texas owning all but $3,500 of the
96*21,000 staek. In 1891 gross earnings, $99,398; deficit under opersOng expemses and taxes, $•^6,688. See V. 53, p. 880.
Baaalbal ic St. Josepb.—Owns from Hannibal, Mo., to St.
Joagplt, Mo., 206 miles ; branches Cameron to Kansas City, 53 miles
fit J«SCT>h.to Atchison, Kan., 20 miles; Palmyra to (^uincy. 111., 13 miles;
leases, 3 miles; total operated, 295 miles. Owns bridge at Kansas City.
cStock.— Common, $9,168,700; preferred, $5,083,024; par, $100. ChiQAgo BurUngtou & Quiiicy RR. Co. owns $14,243,100 stock. Preferred
irtrf* bae prior riglit to a non-cumulative dividend of 7 per cent then
tiommon to 7: then both share. Dividends.— On preferred stock in 1881
and 1882, 7 In 1883, 3 in 1887, 7 ; in 1888. nil in 1889, 5 ; in 1890
Income accounts
aearly 2 per cent; in 1891, 6-82 per cent.
bave shown as follows : Surplus over charges In 1891, $409,780; in
aaeo, $102,071 in 1889, $276,732. (V. 53, p. 325; V. 54, p. 889.)
A
;
&
—
;
;
;
;
:
;
Harrlsburg Portsmoutb IVonnt Joy
Sc
I.aneaster.—Owns
lirom DillerviUe, Pa., to Harrisburg, Pa., 36 mues; branch, Middletowa,
Columbia, Pa., 18 miles; total operated, 54 miles. Leased to the
IPaansylvania KR. Co. for 999 years from January 1, 1861, the rental
Qieing 7 per cent on the stock and interest on the bonds, taxes and .exes of orginizatlon. Stock, $1,182,550; par $50. Forms part of
B"«L, to
1
line of
Pennsylvania RR.
Hartford
&
Connecticut W^estern.—Owns from
Hartford,
108 miles. An extension from TarilTville,
«Conn.,t<»8prlnitfleld, Mass., is proposed. Reorganizedin 1881 andin 1888
<a controlling interest in the stock was purchased by parties interested in
•OoBB^ to
Ehinecllfl', N. Y.,
Securities.- Common stock exchanged for new preferred on basis
of one and one half shares of common for one of new preferred. There
are also $61,000 5 per cent Danbury branch bonds due Octoberl,1912,;
redeemable October 1, 1892; and Deo. 31, 1891, there were rolling
stock certificates, certificates of indebtedness, loans and bills payable,
etc., amounting to $572,927. The Housatonic has taken up the $800,000
bonds of the New England Terminal Co. which it guaranteed. What
securities have been or are to be, issued iu place of them, is not stated.
Earnings.— From Oct. 1. 1891, to March 31, 1892 (6 months), gross
1490,568, against $195,941 in 1890-91; net, $182,750, again.st $211,92; charges, $108,099, against $108,536; balance, surplus, $74,651,
against $105,356. V. 55, p. 59.
For year ending September 30, 1891, gross earnings were $1,541,795
against $1,520,124 in 1889-90; net, $524,506, against $607,179 (V.
53, p. 407; V. 54, p. 32. 984, 1009; V. 55, p. 59, 679. ^
Houston East West Texas.— (Narrow gauge, 3 feet.)—Owned
from Houston, Texas, to Sabine River at Logansport, 192 miles. Lands
73,800 acres. In July, 1885, M. G. Howe was appointed reoelver.
Foreclosure sale took place Aug. 2, 1892, both mortgages being foreclosed. Sale confirmed in November, 1892; V. 55, p. 856. The agreement under wbich the bonds have been deposited provides for the
exchange of the old firsts, principal and accrued interest, at face value,
for new first mortgage forty-year gold fives to be issued at the rate or
$20,000 a mile on the 192 miles, making a total Issue of $3,840,000.
About $2,000,000 will be used to settle the principal and interest on
the old firsts and $300,000 for prior Judgments. The remainder of the
issue will be reserved to standard-gauge the road. New securities will
probably be issued in January, 1893. V. 55, p. 856. In 1890-91 gross
earnings were $454,514; net, $112,024; taxes, $12,493; permanent
Improvements, $40,104. (V. 54, p. 597; V. 55, p. 215. 856.)
&
Houston ic Texas Central.— f^See Map of Southern Pacific)—OvioM
from Houston, Texas, to Denlson, Texas, 338 miles
branches
Hempstead, Texas, to Austin, Texas, 115 miles; total owned, 453
miles. Also oi>erate8 Waco & Northwestern, Bremond, Texas, to Ross,
Texas, 57 miles; Fort Worth & New Orleans Ry., Garrett to Fort Worth,
41 miles; Central Texas & Northwestern, 12 miles: Austin & Northwestern, 102 miles; other, 4 miles. Land grant from the State of Texas was
;
10,240 acres per mile.
Organization.- Foreclosure sale of the Houston ife Texas Central
Kailway (excepting its Waco & Northw. division) was made Sept. 8,
1888, to the reorgauizatiou committee, and this railroad company organized, but the property is still in tlie hands of Charles .DiUingham as
receiver. For plan of reorganization see V. 45, p. 792, 820.
Stock.— The new stock is $10,000,000 and the old stockholders paid
a cash assessment of $71 40 per share to obtain their pro rata share of
the new stock. (See V. 51, p. 493.)
Bonds. The bonds are given In table as they will stand under the
reorganization plan. Interest charges wUl be $914,248; taxes (estimated), $70,000. In December, 1892, the Morgans' Louisiana A'Texas
RR. & SS. Co. brought suit to recover $1,343,538. There is a claim of
the State of Texas upon 75 miles of the road against which $899,000
first mortgage bonds are reserved.
The Southern Pacific Company guarantees interest on all the bonds
and both principal and interest of the debentures. The first mortgage
bonds and the consolidated mortgage bonds may be called for redemption at 110 with proceeds of land sales. See rail abstracts of all tlie
mortgages in V. 52, p. 242. The first mortgage is a first lien on something less than 2,000,000 acres of land and the consolidated mortgage
a first lien on about 1,000,000 acres. Of the consolidated 6s $1,149,000 (not Included In the amount outstanding above) are held as part
security for the general mortgage 4s. Trustee of general mortgage is
Metropolitan Trust Co. of N. Y. There are $60,000 Union Depot bonds
outstanding.
Earnings.— In tlie calendar year 1890 gross on 463 miles were $3,537,014; net, $1,078,175; rentals, $54,272; interest, $883,240; betterments and additions, $197,544; other expenditures, $36,517; deficl*
for year, $93,399.
The earnings, &c., for the years ending September 30, 1889 and 1890,
and June 30, 1891, were as follows, 507 miles being operated in 188889 and 1889-90, this including the Waco cfe Northwestern.
1890-91.
1888-89.
1889-90.
$3,729,588
$3,262,362
$3,863,919
Gross earnings
2,610,153
2,561,494
2,839,162
Operatmg expenses, &0
—
Poaghkeepsie Bridge. leased till August, 1939, to the Central
& Western, now merged in the Philadelphia Reading
England, the rental paying charges and 2 per cent per aninnm on the stock. There are $84,300 Conn. Western RR. 7 per cent
bonds, due 1900, convertible into stock at 60 per cent. Of the stock Net earnings
$1,390,000 is owned by the lessee and pledged under its mortgage of —(V, 51, p. 537, 569, 680, 875
'.the
:New England
ufe
New
1892. <V. 50, p. 422.)
Owns Bridegport, Conn., to State Line, Mass., 74
imiles; Brookfield Junction to Danbury, 6 miles; West Stockbridge
Baitroad, 3 miles (stock owned) Botsford to Huntington, 10 miles,
iliflases— Berkslilre Railroad, 21 miles ; Stockbridge
Pittafleld Railroad.
Honsatonlc—
;
23 miles Danbury & Norwalk
;
&
Railroad,
Danbury to Wilson, Conn., 26
;
$700,868
$1,024,759
$1,119,435
V. 52, p. 51; V. 54, p. 287, 492, 1007.)
;
Hudson Suspension Bridge &
Neiv England Kallroad.^
Chartered to bridge the Hudson River at Anthony's Nose, near PeekskUl, and to build a line of railroad over the bridge from Turner's, N. Y.,
Mortgage trustee, Atlantic
to Connecticut State line at North Salem.
Trustee. Stock, $10,000,000 par, $100.
receiver was appointed
early in 1892.— (V. 51, p. 240, 569.)
;
A
—
—
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CENTRAL
R. R,
AND CONXECTIOXS,
_
-
.
«6
Siib«crlbert( ivIII confer
of
Bonds— Princi
INTEREST OR DIVIDENDS.
pal, When Due.
Rate per When Where Payable, and by Slocks— Last
Road. Bonds Value. Outstanding Cent.
Payable
Whom.
DividendL
Miles
cohimu headings,
on first page of tables.
Per explanation
&o.» see notes
Date
Size, or
of
of
Par
—
<^ BroaU Top
Common stock
64
Preferred stock, 7 per cent, non-cimiulatlTe
64
Istmort., extended in 1890 (int. only In gold)...
64
2d mortgage (int. only payable In gold)
74
3d mortgage, cousolidated
64
iUinois Central Stock
Leased line 4 per cent stock, guar, (see remarks..
let mort. of f Sterling bonds of 1895
18 7 4 for Sterl. of '03, JElCOOOdr'nyrl.o*
706^
f 15,000,000 < Sterling bonds of 1905
\
secures all 4b of lg86,due 1951, gold
o*
equaUy
1 31^8 of 1886, due 1951, gold, .c* }
Ti'ust bonds sterl. (secured by Cli. St. L.&N.O.cons.)
Ist M. on Ch. & Sp. KB. (Oilman to Springfleldj.c
111
Ist M., Middle Dlv.,Otto to Norman Juno. &brs.r
131
Collateral trust bonds, gold, $ & £
c*
854
Cairo Bridge bonds, gold (.see remarks)
c*&r..
Col. trust. $25,000,000. gold, on L. N. O. & T..o*&r
798
CWcago St. Louis & New Orleans Ist mortgage.
567
Huntingdon
Consolidated mortgage ($18,000,000), gold. c*&r
Hempbis Division mortgage, gold
c*
Indianap. Detatur ce Western— t. D. &8p.lstM.,g.8.f.
Indianap. Decatur & Western 1st moHgage, gold
2d mort. (income noncum. till Jan., 1893)
c
Income bonds, non-cumulative, drawn at 100.
Indiana Illinois <i Iowa— IstM., gold, red.at par. .0'
Ist and 2d inc.Ms. ($250,000 each) 4 p.c.non-oum.r
Indiana ti Illinois Southern Ist mortgage
c
—
1875
*200
1874
£200
£200
1875
1886
1,000
1886
1,000
£200
1886
1878
1,000
1881
1,000
1888 500 &c.
1890
1,000
1892 500 &o.
1877
1,000
1877
1,000
1881
1,000
1889
1,000
1876
1,000
1888
1,000
1888
1,000
1888
1,000
1889
1,000
1889
500
1886
1,000
1886
1,000
1886
1,000
1876
1881
i",6bo
567
567
100
153
153
153
153
118
118
Income bonds
RE.
Un — Istm.,
& Stock Yard
g., s. f.
not subj.to call.c*
(leased) 1st mortgage.
mortgage for $1,000,000 gold
do
1,000
100
100
"I
2d mortgage
$50
50
500
500
1854
1857
1865
—
Xndianapolis
.
Hnntlngdon ic Broad Top.—Owns from Hantingdon, Pa., to
lUount Dallas, Pa., 45 miles; branches, 22 miles; total operated, 67
Preferred stock is 7 per cent non-cumulative. There were also
Jan. 2, 1892, $338,541 ear trusts. Bonds due in 1895 and 1925 have interest but not principal payable in gold. Dividends on preferred stock
6lncel883— In 1884,113 percent; in 1887,2; in 1888 and 1889, 5 yearly;
In 1890, 513; In 1891, 7; In 1892, Jan., S^; July, 313. On common stock
In 1891, 2 per cent; in 1892, Jan. 2; July, 2. In 1891 gross earnings,
car trusts, $90,381 div?1688,057; net, $366,296 Interest, $116,357;In
dends, common and preferred $164,992.
1890, gross, $721,879.
miles.
;
Hutchinson
;
Southern.— Operates road completed
in 1890
to State Line, 82 miles. The Union Pacific R'y
Co. holds a note of this company for $768,500. For the year 1890-91
gross earnings were reported as $57,320; net, .$2,487; taxes, $8,446
deacit, $5,959. H. A. Christy, President, Chicago, 111.
Illinois Central.— (See Jfiy).)—Line of Road— Chicago to Cairo,
365 miles East Dubuque to Centralia, 341 miles Memphis Division —
Grenada to Memphis, 'Tenn. 100 miles; Chicago St. Louis New Orleans
Orleans, La., 547 miles; branches, 931
Railroad, Cairo, 111., to
mUes; total, 2,284 miles. Also leases and controls by ownership of
Sioux City and leased lines 600 miles.
nearly entire stock Dubuque
Grand total, 2,884 miles. In 1892 acquired also the Louisville New
'Texas, owning from Memphis, Tenn., to New Orleans, La.,
Orleans
456 miles; Coahoma, Miss., to Riverside Junction, 151 miles; other
branches, 52 miles; Natchez to Jackson, Miss., 99 miles; Clarksdale to
Winter City, 40 miles; total, 798 miles, of which 71 miles narrow-gauge.
History, Leases, &c.—This company was chartered in December,
1850, and organized in March, 1851. The lands granted were upon
the condition that the company should pay to the State 7 per cent of
gross earnings yearly in Ueu of taxes. The company acquired a conNew Orleans Railroad,
froUing interest in the Chicago St Louis
and leased it from July 1, 1882, for 400 years, at 4 per cent per annum
on stock, and issued the above 4 per cent leased line stock in exchange
New Orleans stock (see below).
for a like amoant of the Chic. St. L.
The stock of the Dunleith Dubuque Bridge, $1,000,000, is owned.
Tex.
In 1892 practically all the stock and bonds of the Louisv. N. O.
<whicli see) were acquired for $5,000,000 in cash and $20,000,000 in
4 per cent bonds, part of an issue of $25,000,000, secured by deposit
of the purchased securities. See below, also advertisement Chronicle,
T. was consolidated
June 11, 1892, and V. 54, p. 964. The L. N. O
Mississippi Valley RR. Co. in 1892. (V. 55, p. 679.)
with the Yazoo
In 1887 the company acquired the stocks of the leased lines In Iowa.
Sc
from Hutchinson, Kan.,
;
;
;
&
New
&
&
&
&
&
&
&
&
—
Lands. The Louisville New Orleans & Texas on July 1, 1891, owned
579,(345 acres of land, and there were land and town site notes In
treasury for $758,783— all subject to its income bonds.
Capital Stock.—The leased line stock is secured by deposit of
910,000,000 Chicago St. Louis & New Orleans stock, and In case of
default for sixty days in the payment of any semi-annual dividend of 2
per cent the stockholder is entitled to his share of the stock j)ledged.
On October 12, 1892, stockholders voted to increase the capital stock
from $45,000,000 to $50,000,000. Of the proceeds $1,000,000 will be
applied to the erection of a new passenger station in (jhicago, $1,000,000 for elevating the tracks in said city, $2,100,000 tor additional
equipment in view of the Columbian Exposition, and the balance for
block signals, etc. See otficial circular in V. 55, p. 255.
Dividends.— On common stock since 1882— In 1883, 8 and 17 per
cent in Chicago St. Louis & New Orleans stock exchangeable for leased
line certifloates in 1884, 10; in 1885,8; in 1886,713; in 1887 and 1888,
7; lnl889, 5I3; in 1890, 6; in 1891, 5; In 1892, March, 213; Sept 2ia.
PRICE OF Stock.— In 1883, 124® 148; In 1884, 110®140; in 1885, 119ia
9140; in 1886, 130ai43i3; in 1887. 114al38; in 1888, 113ail23i3; in
1889, 106®118^; in 1890, 85®120; In 1891, 90»109%; in 3 892 to
;
[Vou LV.
a groat favor by giving Immediate notice of any error dlacovered In these tables.
KA1LR0AD8.
iBelt
SUPPLEMENT.
IJ^VESTOES'
Amount
$1,371,800
1,990,500
416,000
307,500
1,497,000
50,000,000
10,000,000
2,500,000
3,650,000
1.000,000
1,500,000
2,499,000
5,266,000
1,600,000
968,000
15,000,000
3,000.000
20,000,000
1,365,000
80,000
11,281,000
3,500,000
1,800,000
142,000
1,382,500
795,000
800,000
457,500
500,000
739,000
980,000
500,000
500,000
&
&
&
&
&
&
&
4g-
PhU. Of ,4th&WalnutSt.
do
do
do
do
A.
do
do
O.
do
do
M.
S. New York, 214 B'dway.
J.
J.
do
do
A. & O.
London.
A. & O. London, Morton,R. & Co.
J. & D.
do
do
& J. New York, 214 B'dway.
& J.
do
do
& J. London, Baring Bros.
& J. New York, 214 B'dway.
F. & A.
do
do
A. & O.
do
do
J. & D.
do
do
M. & N.
do
do
M. & N.
do
do
J. & D.
do
do
J15&DI6
do
do
do
J. & D.
do
7
5
A.
A.
See text.
7 per an.
I'See text.
4 per an.
5
g-
4
g-
Slag.
3hi
g.
6
5
4g4g.
*7«-
6
5
g.
J.
J.
A.
F.
A.
J.
J.
& O.
& O.
& J.
Oct.1.
!«• J. & D.
J. & D.
5
J. & D,
6
J. & D.
4i«g. M. & N.
6
6 g. M. & N.
g.
g.
.
O.
Oct.. '88, last paid,
do
do
J.
July 25, 1892
July 25, 1892
Sept 30, 1925
Feb. 1, 1895
Apr. 1, 189»
1892
1892
1895
1908
1905
Deo.
Jan.
1951
Jan.
1951
July
1950
1898
Jan.
Aug.
1921
Apr.
1952
Dec.
1950
Nov.
1953
Nov.
1897
Deo.
1907
June 15, 1951
Deo. 1, 1951
Jan. 1, 1906
Oct 1, 1947
Jan. 1, 1948
Sept
July
Apr.
Apr.
N. Y., Metropol. Tr. Co,
do
do
Dec.
Deo.
1,
2,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1939
1939
1906
1906
May 1, 1926
Dec. 1, 1896
W. H. Newbolds. Apr. 30, 1911
Phila., Fidelity Trust.
Phila.,
per cent, the annual rent will be $1,050,000. This will be
28 26-100 per cent of the earnings of the road in the year 1890-91.
Latest Earnings.— From July 1, 1892, to Oct. 31, 1892 (4 months),
gross, $6,637,258, against $6,601,047 in 1891. L. N. O. & Texas earnthis at 5
ings are not here included.
Annual Report.— Fiscal year ends June 30. Annual meeting is held
at Cliioago the second Wednesday in October, Report for 1891-92 was
published at length in Chronicle, V. 55, p. 52f 542, 546. The Louisv.
N. O. & Texas earnings are not here included. See below.
,
Passenger earnings
Freight earnings
Mail, express & miscellaneous.
.
Total earnings
Operating expenses
Net earnings
Net receipts from interest, &o.
Miscellaneous
1889-90.
1890-91.
2,875
2,875
$3,287,292 $3,812,340
11,335,365 12,100,600
1,908,615
1,829,365
1891-92.
2,883
$4,388,269
12,809,973
2,093,518
$16,452,022 $17,881,555
11,153,419 12,761,046
Miles operated
$19,291,760
14,070,020
$5,298,603 $5,120,509
1,163,109
731,185
34,905
30,018
$5,221,740
913,733
61,038
$6,318,523
$6,196,511
1,459,925
1,196,845
776,413
2,250,000
400,000
$6,059,806
Total receipts
on lU. Central bonds.. $1,464,925 $1,462,425
1,247,010
IntonChic.StLoals&N.O.bds.
1,106,955
829,169
415,629
Rental Dub. & Sioux City RR..
2,250,000
Dividends on 111. Central stock.
2,400,000
400,000
400,000
Dividends on Leased Line stock.
213,415
Permanent Improvements
Interest
130,027
50,000
Miscellaneous
98,921
$6,182,104
Sur. 14,407
Def. $118
Balance."
Sur. ,$8,882
For the year ending June 30,
Louisville New Orleans & Texas.—
1891, gross earnings on 790 miles were $3,716,430; net earnings, $1,V. 53,
071,426; total charges, $754,245; balance, surplus, $317,181.
p. 59,95, 126, 186, 370, 455, 474, 476; V. 54, p. 159, 265, 939, 964,
810.)
1048; V. 55, p. 59, 256, S«8, 5 42, 546, 639, 679,
Iowa.—Owns from Streator Junction, m.,
Indiana Illinois
to Knox, Ind., 118 miles; trackage (Wabash Railway) into Streator, 1-70
miles; (Ch. & W. M.) La Crosse, Ind., to New Buffalo, Mich., 38 miles;
(Chic. A E. 111.) Wheatfleld to La Crosse, Ind., 13 miles; total operated,
171 miles. Extension from Knox eastward to South Bend, Ind., proposed in August 1892, bonds for $400,000 to be issued thereon. See
V. 55, p. 331. Stock, $3,597,800; par, $100. Car trusts July 1, 1892,
were $108,513. In 1890 finances were readjusted. (See V. 51, p. 457.)
The 1st and 2d incomes, as well as the 1st 43, are subject to call at par
and Interest after 30 day's notice. In year ending June 30, 1892,
gross earnings were $601,306; net, $150,650; interest, *42,0p0; rentals, etc., $17,763; other payments, $30,096; balance, surplus, $60,789.
In year ending June 30, 1891, gross $446,332. Balance sheet, etc.. In
Total disbursements
$6,050,924
$6,318,633
(
&
(V. 54, p. 965; V. 55, p. 146, 331.)
V. 55, p. 146.
Indiana
90 miles.
July, 1890.
lU.,
&
Illinois
Southern.—Suitz
Capital stock, $1,400,000.
Bills
City, Ind., to
Emgham,
payable were $224,646
&
Western.—Owns from Indianapolis,
Decatur, III., 153 miles. On .April 1, 1889, defaulted, and In
the road was turned over to R. B. P. Poarce and B. A. Sands,
JvUy
trustees of the Indianapolis Decatur & Springfield mortgage. In February, 1892. a decree of foreclosure under tho Indianapolis Decatur A
Springfield first mortgage was confirmed with right of .appeal to the
Supreme Court of State. V. 54, p. 242. Suits pending. A reorganization plan was offered October 5, 1890, but this was not consummated,
and a new plan dated August 26, 1891, was offered by holders of
Junior securities, trust receipts under this plan for $1,382,500 second
mortgage bonds being listed on the New York Stock Exchange in March,
1892. This plan contemplates a control of stock and guaranty of new
1st mortgage bonds by the Cincinnati Hamilton & Dayton. A considerable majority of the junior securities has been deposited and
the plan will probably be consummated. (See V. 53, p. 968; V. 54, p. 643.)
From July 1, 1892. to Sept. 30, 1892 (3 months), gross earnings were
$157,393, against $145,728 in 1891; net $62,046, against $31,182.
In year ending June 30, 1892 gross earnings were $494,832; net,
$116,244. In 1890-91 gross, $460,789; net $115,432. New York office,
2 WaU St (V. 53, p. 126, 520; 880. 968; V. 54, p. 242, 287, 444, 643.>
Indianapolis Decatur
[nd., to
Nov. 18, inclusive, 95133110.
Bonds. Cairo Bridge bonds are secured by deposit of a like amount of
Chicago St. Louis & New Orleans 1st mortgage Cairo Bridge 5 per cents.
See advertisement in Chronicle, May 7, 1892.
The trust bonds of 1886 are secured by deposit of $5,266,000 Chicago
St. L. & N. O. consols, and are to be included in any new mortgage on
the Illinois Central lines.
The collateral trust bonds of 1952 are secured by pledge with the D. S.
Trust Co. of New York of $16,350,000 5 per cent 1st mortgage gold
bonds of subsidiary railroads covering 850 miles. See list, V. 55, p. 550.
Of the $25,000,000 collateral trust bonds issued on pledge of the
Louisv. N. O. & Texas securities purchased in 1892, $5,000,000 are to be
retained by the Illinois Central. Trustee of deed, U. 8. Trust Company.
For the Chicago St. Louis <fc New Orleans the lessee guarantees the
Indianapolis Union.— Owns 3 miles of track with terminals at In
principal and interest of all the outstanding bonds prior to the 5 per dl.anapolis, Ind., and leases for 999 years the property of the Belt RR. A
cent bonds, and by an endorsement on the latter bonds guarantees the Stock Yards Co., consisting of 14 miles of road running around the city,
payment of the interest on the same until the principal is paid. Of etc. Formed in 1850 and furnishes terminal facilities to the several
these consol. 68 $5,266,000 additional to tho amount outstanding railroads entering Indianapolis. Stock— The Cleveland Cincinnati
above are pledged as seovirity for the Illinois Central trust bonds of Chicago & St. I^ouis, the Pittsburg Cincinnati Chicago A. St. Louis and
1886. Of the Chicago St. Louis & New Orleans llrst mortgage 7s of the Terre Haute & ludianiipoUs are virtual proprietors, they hav ing in1877, $541,000 are a prior lien on that part of the road in Tennessee.
vested in it $1,534,434 to .Iim. 1, 1392. No stock outstaudiug. Bonds
General Finances.—The Cairo Bridge bonds were sold in 1892 —Trustee of tlie Indianapolis Union mortgage Is the Fidelity Ins. Trust
and $20,000,000 collateral trust 4s wore issued to pay for the Louisv. & Safe Deposit Co. of Pliiladolphia. Bonds for $20,000 hare been canN. Orleans & Texas. (See above.) The fixed charges incurred through celed l)y the sinking fund, tlie issue being purchas.ibie at par and interthe purchase of the L. N. O. & T. will therefore be $800,000, to which est, if offered, but not subject to call before maturity. The Belt RR.
hould be added tho interest on the $5,000,000 paid in cash. Assuming has $1 ,000,000 stock and has paid 7 per cent dividends.
—
o
.
NOVEMBEE,
;
;
KAILBOAO StOOKS AND UONDa
1892.]
67
Sabscrlbers will confer a great favor by kItIiik Immediate notice of anjr error discovered In theae Tables.
KAILROAD8.
Date
Miles
For explanation of column licndlngs, &e., see notes of
on first page
Size, or
of
Par
Boad. Bonds Value.
of tables.
—
—
Indianapolis A Ftneeimes— iBt mortgage, guar
2d mortgage, giiaraiitecd p. & I. Penn. RR. Co
InternaliiiiKil it Ormt Northern— \»X liiort., gold
2d M. gold. lilt. 4% p.c. till Soj)t/!»7, tlioii p.c.o*
3d m. ($3,000,000) hicoinc till Sept. 1, 1897, g..c*
Certiltcatoa of iurteht. sec. by 1 st m. coupons, gold.
Colorado Bridge bonds, sinking fund
117
117
776
776
776
776
i<ywa Central
;;.:
."j
— Oomuion stock.
1867
1870
1879
1881
1892
1892
1880
Amount
Outstanding
$1,000
1,000
$1,700,000
1,402,000
7,954,000
6,968,500
2,754,609
031,335
225,000
8,200,000
5,543,736
6,300,000
591,000
600,000
500 <tc.
500 Ac.
500 Ac.
Various
1,000
100
.
100
(.5 per cent non-enm., see text)
c*
601 1888
1,000
1st mortg.age, S15,000 i>er mile, gold
1885
Kelthsburg Brldgo Ist mortgage, gold, guar
o'
1,000
100
fron Raihraif Stock
20
.
Jacksonville Lo^iUmlle it St. Lonis See CHICAGO P EORtA A ST. Louis.
c.
1888
Jackton i\ SI. A ngust. <f Halifax Rirer.—'i at
Jacksonvilte Tampa <t Key 1lV«/— lat,g.,red.atll0.o" 130Jfl 1884
1,000
37 1886
Atlantic Coast St. Johns & Indian R. 1st M.,gold.c
1,000
Bauford & Lake Eustis 1st M. ($350,000). gold...
29 1886
1,000
& K. W. consol. mortgage for $4,000,0000.. 200 1890 1,000
J. T.
....
1888
1,000
Collat. Trust loan on Pla. So. bonds. Series A
stock, Series B
1888
Do
do
do
1,000
88-89
Equipment bonds. Series A and B
500
Johns&Lake Eustis l8tJL,gu.p.,tl.byF]a.8o.JJj/,
48
fit.
59 1892
1,000
Jalisco I'aeitic 1 st M., $25,000 p. m., gold, guar...
8 1867
1,000
Jefferson (]'a.J—lst and2dMs,exten.(HaTvleyBr.).c
1 St M. Carbondale to S. depot, gold, guar. p. .t 1
o*
37 1889
1,000
giiat. by M. C- .0
45 1877
Jdiet <t Northern Indiana 1st M.
1,000
Preferred stock
.
—
—
.
.
M
Indianapolis
A:
VIncenneH.— Owns from
Indianapolis, Ind., to
Vinccnnca, Ind., 117 miles; brandies. Bushrod to Dugger, etc., 10 miles;
133 miles. The Pennsylvania Company owus a controlling
Interest in the stock and operates the road, advancing the deficiency to
pay interest on the bonds. The canital stock is $1,403,000; par, $50.
of which Pennsylvania Company on Julyl, 1891, owned $1,401,900.
Due Pennsylvania Company Dee. 31, 1891, tor advances, $2,421,257.
In 1891 gross earnings. .$473,028; net, $H8,K34; interest. $203,120
rentals, etc., $3,563; deficit, $138,548, again,st $160,848 in 1890.
International
Great Northern.— Owns Longvlew, Texas, to
Laredo. Texas, 49(5 miles and Palestine, Texas, to Houston, Texas, 150
miles: branches— Houston & Columbia, 50 miles; Phelps to HuntsvlUe, 8 miles; Mineola to Troupe, 41 miles; leases— Roimd Rock to
Georgetown, 10 miles; Henderson to Overton, 16 miles; Galveston
Houst. A Hend., Galveston to Hou.ston, 50 miles total, 825 miles.
Organization.— Foreclosed In 1879 and reorganized. In 1892 the
M. K. A T. disposed of its interest in the stock to Mr. Gould. (See V.
Default was made in March, 1889, and
50, p. 313; V. 54, p. 366.)
receivers were appointed Feb. 16, 1889. Reorganized without foreclosure in 1892 under plan of Jan. 27, 1892. See plan In V. 54, p.
203, 366. Road was turned over to the company by the receiver on
Julyll, 1892. V. 55, p. 100, 177.
Stock—Stock authorized is $25,000,000; outstanding, $9,755,000!
par, $100; controlled in interest of Missouri Pacific as stat«d above.
Bonds.— The first mortgage bonds remain unchanged. The second
mortgage interest is scaled to 4^3 per cent from Sept. 1,1891, until
and including Sept. 1, 1897; thereafter it will be 5 per cent but in case
of default the rate reverts to per cent as formerly. There are $85,500
of 8 per cent Incomes, to retire which a like amount of second mortgage bonds, additional to those above, are reserved.
for $3,000,000, untU after
•file third mortgage 4 per cent bonds
Sept. 1, 1897, draw interest only if earned, non-cumulative. See V. 55,
p. 462. The certificates of indebtedness are secured by first mortgage
coupons held In trust and are payable $126,267 yearly. See V. 54, p.
203, 366.
The International A Great Northern guarantees $2,000,000 of Galveston Houston A Henderson 1st mortgage 5 per cent bonds.
State RR. Commission.— In August, 1892, the U. 8. Circuit Court
granted an injunction to prevent the Texas State RR. Commission
from enforcing the low tarlfT for freight which they had established
about Sept. 1, 1891, and which it is claimed caused a loss to this company in tJtie seven months ending March 31, 1892, at a rate equal to
over $200,000 per annum. See V. 55, p. 314, 332.
Earnings.— From Jan. 1 to June 3(i, 1892 (6 months), gross, $1,664,501, against $1,689,347; deficit under operating expenses, $.59,311,
against $149,971. Most of the road's earnings are made in the last sLx
k
;
;
;
months of the
year.
In calendar year 1891 gross earnings were $4,098,634: net, $618,713.
In 1890 gross, $4,053,649 net, $545,746. (V. 53, p. 58, 569, 604 V.
54, p. 33, 78, 203, 243, 287, 329, 366; V. 55, p. 100, 177, 331, 462.)
Iron Kallway.— Owns road, Ironton, O., to Centre, O., 13 miles,
and branches 7 miles. Dividend in 1891, lia per cent. In year ending
June 30, 1892, gross earnings were $32,909; net,l$2,289 taxes,
$3,754; balance, deficit, $1,465.
loiva Central.— Owns from Albla, la., to Manly Junction, la.,
178 miles; Oskaloosa, la., to Iowa Junction, near Peoria, 111.,
<excciiting Keithsburg Bridge over the Mississippi, leased), 184 miles;
•Grlnnell A Montezmna Branch, 14 miles; Story City Branch, 35 miles;
State Centre Branch, 27 miles; Belmond Branch, 22 miles; Newton
Branch, 28 miles; Manly Junction, la., to Northwood, la., (leased to
Burlington Cedar Rapids A Northern) 11 miles; other, 4 miles; total
owned, 503 miles; leases Kelthsburg bridge over Mississippi River, 3
miles; trackage, Iowa Junction, 111., to Peoria, 111., 3 miles; total, 509
miles, but of this 11 mUes leased to B. C. R. A N., as stated above.
HISTORY.- The Central Iowa, October, 1884, defaulted in payment of interest, and in 1888, after foreclosure sale, was reorganized
under present title according to plan in Chronicle, V. 44, p. 653.
Capital Stock.— Common stock authorized, $11,000,000; preferred
authorized, $7,400.(X)0. The preferred is entitled to 5 per cent (noncumulative), then common to 5, then both share pro rata.
Dividends.— On pref. stock begun in 1892 in April paid 1 percent.
Bonds, Etc.— Trustee of first mortgage. Mercantile Trust Co. See
abstract V. 49, p. 582. In February, 1892, $-100,000 five per cents of
1888 were issued for new equipment and improvements. On July 1,
1892. $289,500 bills payable were outstanding.
Latest Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months),
gross $499,537, against $466,892 in 1891; net, $146,016, against
$134,787.
Annual Report.— Fiscal year ends June 30; report for 1891-92 was
In Chronicle of Sept. 24, 1892.
1889-90.
1890-91.
1891-92.
492
Av'gemllesof road operated.
504
497
Gross earnings
$1,699,742
$1,888,260
$1,588,963
Net earnings (over taxes)
410,887
369,408
475,491
Total net rec'ts (incl. rentals)
426,987
385,283
489,759
Interest, rentals, Ac
360,667
405,309
399,530
Dividends
55,364
;
;
;
;
$24,616
$21,677
$34.S65
4'fl.to5g.
M.
M.
M.
M.
M.
A
A
A
A
A
A
A
Bo>irf«— Prlnol -
When Due.
Bloekt—lMtt
Dlrldend.
pal,
A. N.Y.,Farm.L.ATr.Co. Feb. 1, 1908
do
do
N.
Hay 1, 1000
N. N.Y., office, 195 B'wav. Nov. 1, 1919
8. N.Y.,Fannera'L.&Tr.Co Sept. 1, 1909
See remarks.
S.
Sept. 1, 1921
N. N. Y., Central Tnist Co. NoT.l,'93-'97
N. N.Y., office, 195 B'way. Hay 1, 1920
N. Y. office, 11 Wall St. Apr. 11,
D. N. Y., Mercantile Tr. Co. June 1,
D. N. Y., Central Trust Co. .Tune 1,
Boston.
yearly.
July 10,
l'
J.
J.
A
A
6
F.
6g.
J.
A
A
A
A
A
A
A
8-
5
l»a
M.
M.
M.
F.
F.
A.
N. Y., Mercantile Tr.
Aug. 1, 1918
MercantUe Tr.Co. Jan. 1, 1914
do
do
Jan. 1, 1906
J. N. Y.,
B.
8.
S.
do
do
J.
A.
J.
A
A
A
A
do
do
1916
1940
Sept. 1,
A. Boston, Am. L. ATr. Co. Aug. 1, 1898
do
do
Aug. 1, 1898
A.
N.Y., Mercantile Tr Co. $7,500 B.-an.
do
F.
1892
1938
1925
1891
A.
do
New York City.
Aug.
1,
1922
July 1, 1927
J. Phlla, Fidelity Tr.Co.
O. N.Y., N. Y. L.E. A W.RR. Jan. 1, 1909
J. N. Y., Farm. L. A Tr. Co. July 10, 1907
The interest, rentals, Ac, above in 1891-92 Include: Interest on
funded debt, $308,692; on eiurent liabilities, $22,731 rentals of
miscellaneous, $17,347; total,
bridges, tracks and tunnels, $50,760
(V. 53, p. 256, 36T. 407; V. 54,
$399,530. President, Russell Sage.
V. 55, p. 420.)
p. 78, 243, 369, 648
;
;
;
JarkMonvl'le
St.
Ansuntlne
&
Halifax River.— Sonth Jack-
—
A
A
sonville, Fla., to St. Augustine, 37 miles operates St. John's
Halifax
River RR., Palatka to Dajrtona, Fla., 51 miles; St. Augustine
Halifax
River RR., St. Augustine to East Palatka, Fla., 25 miles: St. John's
Ey., Tacoi, Fla., to St. Augustine, 12 miles. Tliese lines form a through
route from Jacksonville via St. Augustine to Daytona, 112 miles, with
branches, 13 miles. An extension from Daytona southerly to Rockledge. 70 miles, is under construction. The Jacksonville Bridge Co.
and the Palatka Bridge Co. are controlled in same Interest. Henry M.
Flagler, President.
Jacksonville Southeastern.
i
ggg chicaoo Peoria
Jacksonville Louisville &. St. Louis. ( A St. Louis.
Jacksonville Tampa & Key W^est.— Line of road Jackson'
Enterprise branch, 4 miles
vUle, Fla., to Sanford, 125 mUes
:
Deland branch, 6 miles; Atlantic Coast St Johns A Indian River.
Enterprise to Titusville, 37 miles; Sanford A Lake Eustis Div., Sanford
to Tavares, 29 miles; total J.T. A K. W., 200 miles. Operates Florida
South., Palatka, Fla., to Brooks vUle, and branches, 179 m.; and Bartow
to Punta Gorda, 80 miles; leases St. Johns A Lake Eustis, Leesburg to
Astor and Lane Park, 48 miles— total, 307 miles total operated, 507
;
miles.
Receivership, Etc.— Opened Maroh,1886, and consolidated with th«
Palatka A Indian River RR. and the Sanford A Lake Eustas RR. In July,
1892, H. E. Howland was appointed receiver of the Florida Construction
Company, which owns most of this company's stock. On Aug. 4, 1892,
Mason Young, of New York, was appointed receiver of the J. T. A K.
W. 'The purpose of these receiverships is to secure an accounting between the companies, whose accounts are very much mixed. Bee V. 55,
p. 100, 146, 679. The land grant was about 1,'500,000 acres.
Stock— Stock July 1, 1891, was $3,010,000, of which It Is said
the Florida construction Co. claims the right to $2,715,300.
bonds.-The Jacksonville Tampa A Key West first mortgage bonds
of 1884 are subject to call at 110. The consolidated mortgage is for
.$4,000,000, of which $2,216,0,ro reserved to retire the prior bonds
when due. Certain of the consols bearing serial numbers higher than
2,216 are held by the former President of the company, as collateral,
as he claims, for a debt duo him from the company. The receiver
warns all persons against these bonds, as the company will not recognize them, if at all, until after an accounting.
The company obtained control of the Florida Southern on Jan. 1,
1889, and issued a collateral trust loan (Series A) for $2,905,000 on
that company's bonds, this loan bearing 3 per cent interest till Aug. 1,
1890, 4 per cent till Aug. 1, 1893, and 413 per cent for the remaining 5
years, and a collateral trust (Scries B) for $900,000 on that company's
stock. (See V. 47. p. 531.) The Florida Southern Ry. was sold in foreclosure in March. 1892, and reorganized. (V. 50, p. 422: V. 53 p. 922.)
Receiver's certificates for $125,000 were authorized in August.
1892, to meet J. T. A K. W. Interest payments, $76,000 having been
issued prior to Sept. 15.
Earnings.— From July 1, 1892, to Julv 31, 1892 (1 month), gross of
main line wore $40,151, against $39,820 In 1891 net, $5,774, against
$12,841. In 1891-92 gross, $781,824; net, $341,709. In 1890-91 the
gross earnings on 200 miles were $705,267: net. $228,339: surplus over
interest, $95,379. New York office. 10 Wall Street -(V. 49, p. 235;
V. 50, p. 422. 519; V. 53, p. 922; V. 55, p. 100, 146, 177, 215, 256,679 )
Jalisco Paclfle (Iflexlco).— Projected from ManzaniUo on the
Pacific Coast of Mexico to Guadali\)ara, 225 miles, of which 59 miles
from ManzaniUo to Colima are in operation, and 82 miles more about to
be built. The Mexican National Construction Company, which guarantees the bonds, principal and interest, has contracted to build the
entire line, 225 miles, for $5,625,000 first mortgage bonds, $4,500,000
preferred stock (entitled to 5 per cent if earned, cumulative after Jan.
The mortgage securing these
1, 1895) and$5,635.(X)0 common stock.
bonds, some of which have been sold bv the Construction Company, is
for $7,500,000 at .$25,000 per mile of completed road, and is payable In
U. 8. gold; trustee. State Trust Co. The bonds arc redeemable at 110
before m.aturity on six months' notice. (V. 54, p. 1009.)
;
Jeflerson.—Owns from Susquehanna Depot, Pa., to Carbondale,
Pa., 37 miles branch, Hawley, Pa., to Honesdale. Pa., 8 miles total,
45 miles. Leased in periwtuity to the New York Lake Erie A Western
for $140,000 per annum for main line and $15,900 for branch. Mortr
f;age of 1889 is guaranteed principal and interest by lessee. The Hawey branch 2ds, $96,000, due in 1889, were extended at 6 per cent.
Capital stock. .$2,096,050 par, $50. Gross earnings year ending Sep t.
-,$191,876.
30, 1891, $750,126; net,
;
;
—
:
JefTerson madlson
HATi Chicaoo
Jollet
tc
A
A:
St. Louis.
Indianapolis.—See Pittsburo
Northern Indiana.—Owns from
Joliet,
111.,
Ciifciir-
to
Lake
45 miles. Operated as part of the Michigan Central main
in 1854 and leased to the Michigan Central Btook
($300,000, par $100) carries dividends of 8 per cent per annum.
Station, Ind.,
line.
Bnrplna.
p.
M.
g.
360,000
f «
290,000
See text.
2,905,000 4to4i9
4
900,000
53,000
6
285,500
1,475,000
"eg.
300,000 413A 6
2,800,000
800,000
. .
total,
7
6
6
whom.
Payable
Cent.
1,000,000
1,566,000
—
—
INTEREST OE DIVIDENDS.
Rate per When Whore Payable, and by
Road opened
6>(
'INVESTORS'
SrPPLEMENT.
[Vou LV.
c
NOYEMBEB,
.
—
;
KAILROAD STOCKS AH^D BONDS.
1892.]
Subscribers will confer
sreat favor by
a.
arlT'Inc
RAILROADS.
3-56
function ( PliUa<lelj>hia)—l»t mortgage (extended).
2d niortj^a^e
Kaninrha it JficA.— Stock, $10,000,000 autUorizeil
1st moit, KoUi, guar. p. & 1
c"
Kuii. City Ark. d- New Ort.— iBt M. ($20,000 ii.m.j.e.o"
Kansas Oily lielt—lut ($534,000 gu. K.C.F.S.&M.j.c*
Kansas Oily Br. £ Ter.—Ut M. for $1,500,000, g.c*
Kansas Oily Oiinlon <t Spring.— 1st M., g., guar. .0*
Kansas Oil)/ Ft. Scott tC ilempliis Stock
Preferred stock contract.s, 8 percent
K. C. F. 8. & «. Ist M.. I'd. gr.,9. f., dr'n at 110.
Mortgages, guaranteed (part drawn, at 105). o*
Kansas & Missouri RR. 1st mortgage
o*
K. C. Ft. 8, & G. Ten-year coupon notes
Kan. City 8. & M. Plain bonds (red'bleat 105).. o'
Consol. mortgage ($'25,000 per mile) not dr'n-.c*
Current Riv. tiR. 1st niort., $20,000 p. m., guar.
Kan. C.& M. R'y<fcB'dgelBtM.g.,s.f.,dr'natll0.c*
Kansas Equip. Co. Ist M. guar., s. f., red. at 110
Kansas Oity <£ Indep. Air Line— iHt M., gold.cAr
Kan. City it Indcp. Rapid 2>.— 1st M. $1,000,000.0
350
ib'i
23
10
12
174
—
O. Memph. <t Sir.— 1st niort. (dr'n
Coupon interest notes, subject to call
Kan.
160
202
26
1890
1891
1886
1889
1885
071
81
51a
276
par
Birmin,'bam equipment M.,g.,gu.
(red. at 110). .c*
Mempbis Equipment Co., guar., red. at 110
o*
Kansas Oity <t I'uciflc— 1st mort., gold, int. guar, .c*
125
274
K.C.Sl.Jo.d- Coun.Bl.—Con.M. (Nos. 1 to500pf.)*c
Ist Ms. Nod. and Tark. Val. RRs. s. f. (dr.at 100) .o*
<•
Kan. Oity Suburban Belt— 1st moTtgage, gold
Consol. Tcnuinal Ry. of K. C, 1st M., gold
c*
Union Ter. RR. Co.lst M. ($2,000,000) g. guar.c*
61
30
"l6
$1,000
1,000
100
1,000
1,000
1,000
500
1,000
100
100
1879 100 Ac.
80-'84
1882
85<]c86
at 110)..o*
at
1882
1865
1,000
1,000
5,000&c
1,000
1884
1888
1,000
1,000
1887
1,000
1889
1,000
1890
1,000
1892
1889
1,000
1887
1,000
1891
1888
1,600
1890
1,000
1,000
1S90
1877 100 (fee.
1,000
1880
1890
1,000
1892
1,000
1892
1.000
Junction (PUIIadelplila).— Owns from Belmont, Pii., to Oray's
Ferry, Pa., about 4 miles. It connects the Penusylvauia, tlie Philadelphia & Reading aud the Pliiladelpliia Wilmin.ftoni Baltimore railro.ads,
coming into Pbiladelpl.ia. Stock $250,000 (par $50), is all held by those
three companies, and jiays dividends of from 20 to 50 per cent per annum.
Kanatvlia ic miel\lgan,—( See Map Toledo <t Ohio Central.) Owns
Corning, O., to Maiden, itc, W. Va., 134 miles (gauge 4 feet 9 Inches);
trackage 19 miles; total 153 miles, of which il miles owned is not
operated by this company.
The Kanawha & Ohio (was sold in
foreclosure March 4, 1890, and reorganized under present title. (See
CiIKOXiCLE V. 50, pp. 451, 483.) In October, 1890, a large interest in
the stock was acquired by parties interested in the Toledo <fe Ohio
Central, which company has guaranteed the bouds, principal and
Interest.
(See V. 52, p. 165, 351.)
The mortgage of 1890 is for
$15,000 per mile of road now or hereafter constructed. An extension
of 30 miles from Maiden to mouth of Gauley River, wliere connection
win be made witli the Chesapeake & Ohio, is building, aud sale of l)onds
to pay for construction has been negotiated. Car trusts 7s, Sept., 1892,
$32,000, due $8,000 yearly.
From July 1 to Aug. 31, 1892 (2 months), gross earnings were $61,395, against $52,855 in 1891; net, $17,724, against $12,053. In year
ending JuueSO, 1892, gross earnings were $360,091; net, $110,233;
taxes, $15,755 interest on bonds, $56,227 other interest, $2,834
rentals, etc., $10,000; balance surplus, $25,416. In 1890-91, $342,815; net, $86,201. (V. 52, p. 165, 351; V.54. p. 801.)
—
;
;
&
Kansas City Arkansas
>e»v Orleans.— Protection from
Missouri State line through Arkansas and Louisiana State line 300 miles.
for $270,0 10 have been issued on road from Hazen, Ark., to
Stuttgart, 26 miles.
Capital stock, authorized, $6,000,000; issued,
$1,000,000. Mortgage is for $6,000,000 at $20,000 per mile; trustees,
the Farmers' Loan & Trust Co., New York. C. G. .Stoddart, President.
Oflices at 18 Broadway, N. Y., aud Bartholomew House, E. C. London.
Kansas City Belt.—From Argentine to Washington Park, 10 miles.
Mortgage is for $2,500,000. Stock authorized $2,500,000 (par $100);
outstanding $100,000 (par $100) owned one-half by Atchison Topeka
& Santa Fe and three-tenths by Kansas City Fort Scott & Mempbis and
two-tenths by Chicago Milwaukee & St. Paul. Doulile-tracked aud used
for a terminal road iit Kansas City. In 1 891 gross earnings were $201,916 net, $104,935 interest. $105,930 deflcit, $11,001 surplus from
previous year, $51,391 balance, surplus, $40,390.
Kansas City Bridge
Terminal. ^Drganized to construct a
railroad and carriage l)ridge over the Missouri River at Kansas City.
In August, 1891, Welistor Withers and W. H. Holmes were appointed
ioint receivers of the Kansas City Bridge & Terminal Railroad and the
Chicago Kansa * City & Texas Railroad, the latter extending from North
Kansas City, Mo., to Smitbrille, Mo., 20 miles, and having $425,000
bonds outstanding. Foreclosure suit pending. Stock outstanding,
$975,000; par $100. One receiver's certiflcate, $2,500. (V. 53, p. 256.)
Kansas City Clinton
SprlngHeld.— Owns from Cedar Junction, Kan., to Ash Grove, Mo., 1(>4 miles, and Ijranch to Pleasant Hill,
Mo.. 10 miles; total, 174 miles, but only 163 miles operated. Built in
the interest of the Kansas City Fort Scott & Memphis RR., which company guarantees the bonds. There are $58,000 Pleasant Hfll & De
6oto7percentsdue October 1, 1907. Stock authorized, $2,500,000; par,
SlOO; i.ssued, $1,775,400, of which one-half is owned by the Kansas
ity Fort Scott & Memphis RR.; due tliat Co. July 1. 1892, $345,000.
Bonds
;
:
;
;
;
&
&
Latest Earnimis.— From J.in. 1 to Oct. 31, 1892 (10 months) gross
earnings, partly estimated, were $267,074, against $259,115 in 1891.
Annual Rkport.— Fiscal yea- ends Juno 30. In 1891-92 grcss
earnings, $317,343 net, $95,687 interest, $103,743 deflcit, $68,056.
In 1890-91 gross, $385,622; net, $140,367.
;
Kansas
;
;
mempbis.—
City Fort Scott ic
Owns main line from
City, Mo., to Memphis, Tenn., 485 miles, with branches, 186
miles; total owned, 671 miles; leases— Current River Railroad, Willow
Springs. Mo., to Cairo, 81 miles; total operated, 752 miles. Also owns
one-half the capital stock of the Kansas City Clinton
Springtleld and
of tlie Kansas (Jity Memphis & Birmingliam BR. (see those companies);
also 300 shares Kansas City Belt and .$!)42,000 Currcint River.
OuoAxizATiox.— Formed in April, 1888, by consolidation of the Kan.
C. Ft. Scott & Gulf and Kansas City Springfield & Memphis railroads.
Kansas
&
The Kan. City & Memphis Railway Bridge was completed m May, 1892.
Dividends.- On common stock since 1881- In 1882, 2 per cent; In
1883, 3: in 1884, 5I2; in 1885, 2>2; in 1886,4; in 1887, 4I2 in 1888,
3>«; In 1889, 3; in 1890, 319; in 1891, February, 1; none since.
Dividends on preferred since 1880— In 1881, Sia; from 1882 to February, 1891, both inclusive, at the rate of 8 per cent yearly. The August, 1891, dividend was deferred until tlie results of the calendar year
18!ll could be ascertained, .ind in 1892, February, 8 per cent was iiaid.
In like manner the August, 1892. dividend wasdeferred. (V. 55, p. 804.)
Bonds.— Under the con.s()lldated mortgage (trustee New England Trust
Company of Boston) sutlliient bonds are reserved to provide for all
prior lionils when due. Tlie Fort Scott Southeastern & Memphis, Rich
Hill and Short Creek & Jopliu roads have a sinking fund with which
bonds are bouglit at 110, or, if not offered, are drawn at 105 (of these
bonds $230,000 were on June 30, 1891, held alive in the sinking fund).
The Current River RR. lionds are guaranteed. See V. 44, p. 246.
;
;
09
Immediate notice of anr error discovered In these Tables.-^
Botult — Piinoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Par uutstanoing
of
For explanation of column lioadini^, &o., see notes of
Road. Bonds Value.
on tlrst page of tables.
;
6
pal. When
Where
I'ayablo,
41, J. & J. PhllB., 233 So. 4th St.
$125,000
300.000
6
A. & O.
do
do
9,000,000
"4'g. A. & O. N. Y., Central Tr. Co.
1,335,000
276,000
M. & N. N. Y. City & London.
1,930.000
J. dc J. Boston, Of., 50 State St
975,000
& J. Jan., '91, coup. Ia8ti>d.
3,192,000
& O. Boston, Mercli. Nat. Bk,
5g.
9,997,000
& A. Boston, Of., 50 State St
2,750,000 See t«xt.
& A.
do
do
2,247,000
4 D. Boat., Nat Webster Bk.
7
1,214,000
& S.
do
do
7
390,000
& A.
do
5
do
320,000
Various Boston, Of., 50 State St.
6
500,000
M. & N. Boston, Nat. Union Bk.
6
11,812,000
6
M. & N. Bost., Nat. Webster Bk.
i,(!0(;,ooo
A. & O. Boston, Nat. Union Bk.
5
3,000,000
A. & O. N. Y. Un. Tr. Co. & Bost.
711,000
J. & J. Boat., Nat. Webster Bk
M. & 8. Phtl.,Prov. ife<fe Trust
300,000
475,000
M.& 8. N. Y., Central Trust Co.
M. 4 8.
Interest funded.
6,892,000
5
SCI, .500
M. & 8. Boston, Of., .50 State St.
6
M. & S. Boston,01dCol'nyTr.Co
1,000,000
!«• F.
189,000
& A.
do
do
2,500,000
*«• F. & A. N. Y., Central Tr. Co.
J. & J. Boston, 2d Nat'l Bank.
5,000,000
56 :,000
& D.
7
do
do
1,000,000
& D. Phlla., Union Trust Co.
750,000
& A. PhU.,Prov.Llfe & Tr.Ca.
750,000
& J.
Philadelphia.
5 K-
Dividend.
July
Apr.
1,
I,
1907
1900
1990
198X
1916
1919
Oct.
1925
Feb. 16, 1891
Feb. 15, 1892
June 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Apr.
Nov.
July
July
1,
1,
1,
1,
1,
Var. 189.5-96
May
May
Oct.
Oct.
,
I
Dae.
and by Stncki—Laat
Whom.
Payable
f,g„^
1,
1,
1,
1,
1.
1,
1,
1,
1,
1,
1,
1.
1,
1,
1.
1,
1891
1929
1927
19-29
1905
1922
1909
1927
Sept.
1901
Mch.
1903
Aug.
1905
Aug.
1990
Jan.
1907
June
1920
June
1920
Feb.
1922
Julyl, 1922
Jan.
Mcb.
Mcb.
Mch.
Kansas Equipmeut bonds are guaranteed, and the Issue is redeemable
as a whole at any time at 110 and interest, aud is entitled to an annual
sinking fund of $12,000, for which the bonds may be purcha.sed but
cannot 1)0 drawn. Also guarantees $534,000 Kansas City Belt and $3,192,000 Kansas City Clinton* Spriugtleld bonds— see those compaulea.
On July 1. 1892, bills payable for $606,070 were outstanding.
L.VTEST Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months),
gross earnings $1,223,776, against $1,163,358 la 1891 ; net, $301,647,
against $347,646; Interest, rentals, &c., $277,382, against $274,671
balance, surplus, $24,265, agalust $72,973.
Anni;.\i. Rei'Obt.— Fiscal yearends June 30. Report for 1891-92 was
In V. 55, p. 804. It is said tbat in the year 1891-92 some $215,000 expended for improvements was included in operating expenses.
1888-89.
1889-90.
$4,545,567 $4,937,431
Gross earnings
1891-92.
$4,991,278
1890-91.
$4,703,142
Net earnings
$1,518,037 $1,530,786 $1,313,924 $1,356,603
Interest and miscell..
994,537
1,042,549
1,068,846
1,111,614
Bal., incl. other
Dividends paid
inc.
.
$600,578
516,924
$.569,161
566,414
$244,939
219,981
$256,881
208,972
Balance
8ur.$89,654 def.$2.717 8ur.$47,909 Bur.$24,975
For 1891-92 paid defloits on the Current River RR. and the Kansas
City Clinton & Springfleld RR amounting to $72,829 (V. 53, p. 186,
407, 711 ; V. 54, p. 410, 720, 965; V. 55, p. 254, 804.)
&
Kansas <'lty
Independence Air Line. (See Jfop.;- Operates from Kan. City to Independence, Mo., III2 miles, of which 6 mfiea,
affording entrance into Kansas City belongs to the K. C. it Suburban
BeltRR. Opened March 1, 1892. Stock p.aid in, $300,000 par $100.
A. A. Mosher, President, Kansas City.
Kansas r^lty dc Independence Rapid Transit.—Kansas Oity
to Independence, Mo., 8 miles; opened March, 1889. Capital Stock,
$1,000,000. Mortgage trustee. Central Trust Co. On Jan. 1, 1892, the
bills payable wore $168,759.
Earnings— In 1891 gross, $95,978; net,
$41,740; interest on bonds, $23,125.
;
Kansas City ITIempbIs ^k BIrmlnsham.—Owns from Memphis
Birmingham, Ala., 253 miles, and branches to Aberdeen, Miss., and
Bessemer, Ala., 23 miles; total, 277 miles; completed in October, 1887.
Stock, Traffic Guakanti-, Etc.— The stock is $3,956,000; par, $100.
The Kansas City Fort Scott & Memphis owns halt the stock and gives a
trafflc guarantee of 10 per cent of gross earnings derived from business
to aud from tliis road, to be applied to interest.
Bonds. -First mortgage bonds are subject to call at 110 and Interest.
The New England Trust Company Is trustee under the mortgage abstract, V. 46, p. 575. In September, 1891, five first mortgage coupons
beginning September 1 were f undo<l into 10-year 6 per cent notes,
secured by the coupons deposited in trust. See explanation in V. 53,
p. 325. The Birmingham and .Memphis equipment bouds are both guaranteed by this Co., and are redeemable on notice at 110 and Interest.
Earnings.— From July 1 to Sept. 30,1892 (3 months), gross $267,251,
against $272,528 in 1891 net, $172, against .$26,S58; interest, rentals.
&c., $113,015, against $107,033; total def., $112,813. agalust deficit 0/
$80,156. In year 1891-92 gross earnings were $1,174,372 net, $215,591; total net after adding tradlc guaranty, $236,477; charges, including full amount of interest on first mortgage bonds, which has
been funded till Septemlier, 1893, $440,071; balance, deficit, $203,594.
See V. 53, p. 254. In 1890-91 gross, $1,192,165. (V. 52, p. 39; V.
to
;
;
;
53. p.
186, 289, 323; V. 55, p.
'154.)
Kansas City Nevada & Fort Smltb.—C5ee Jfan.^—Operates road
from Kansas City to Clayton, Mo., 100 miles, of which 76 miles from
Grand View to Clayton are owned, and the remainder operated under
This road has been built and equipped by the Missouri Coal 4
Construction Company, and paid for out of the funds of said company.
No bonds have been Issued, and none it is said will be until further extensions are completed and net earnings sulllclent to pay Interest are
assured. Extension to Pittsburg, Kan., under construction, the Kansas
City Pittsburg & Western being the ooriiorate name of the portion of
the road In Kansas. It is to bo completed early In 1893. (V. 55, p. 297.)
Kansas City
Pacific.-Line of road, Paola to Stevens, 130
miles. Forms part of the Missouri Kansas 4 Texas main line to Kansas
City, having been leased to tbat company for 999 vears from August 1,
1890. The lessee guarantees by endorscmeui. the Interest on the new 4
per cent bonds, and if prior to August 1, 1895, 30 per cent, and thereafter 33 per cent, of the gro-ss earnings shall exceed the Interest on the
bonds, taxes and corporate expenses, the amount of such excess (all
advances by Missouri Kansas 4 Texas having been settled) is to be paid
to the Kansas City 4 Pacific. See V. 51, p. 457. Stock is $2,500,000,
of which $1,725,000 is owned by M. K. 4 T. (V. 51, p. 457, 491.)
Kansas City St. Joseph & Council BluflH.—Owns from Kansas City to Council Bluffs. 197 miles, branches 38 miles, proprietary
lines (Nodaway Val. and Tarkio Val. RRs.), 61 miles; total operated, 31
miles. The capital stock of $5,262,600 was purcba-sed hv the Chicago
Burlington 4 Quincy in 1880, and the road is operated as part of that
system. Consols. Nos. 1 to 500, lioth inclusive, have a prior lien under
the mortgage. In 1891 gross earnings were $1,892,785; net, $860,258:
lease.
&
Interest, $392,310; rent.ils, 4c., $57,199; balance, surplus. $410,148:
The Kansas City & Memphis Railway 4 Bridge bonds are guaranteed paid dividends, $;188,950.
by endorsement as to principal aud Interest and are subject to sinking
Kansas City Suburban Belt.—r.sree Map.;—
fund drawings, $9,000 bonds yearly at 110. See V. 54, p. 410, 965. The from Second Street and Broadway arotmd Kansas This road extendi
City, via the East
741
INVESTORS' SUPPLEMENT.
fVOL. L^v.
November, 18*8
RAILROAD STOCKS AND BONDS.
J
Sabucrlbers will confer n great favor
RAILROADS.
For explanation of column headlngA,
on first page of tables.
&c., see note8
bjr
ctvlnc Immediate notice of any error dlscoTered In these Tables.
Miles
of
City Walkint d Oulf—iat moTt, gold ...o*
o'
Kan. Cily Wyandolle tC N. IF.— iBt niort., gold
Kan. City & Beatrice Ist mortgage, gold, guar.c
Kearneii it Ulack Hills— 1st mortgage
Kentucky Crnlrnl- See Louisvii.i.E & Nasmvii.i.e,
Kentucky Iiidiana Bridge— lat mortgage, gold..
Terminal bonds, gold
2d mortgage, gold
New Albauv Belt & Term. RR. 1st M. end., gold..
100
134
35
66
.ffe>i^(c7.y3firf/V/— lRtM.,$25.000i).ni.,re(l.atpar.o*
Ketilneki/ t'liio/i— 1st mort. for !?3,0()0,000, gold.o'
95
95
162
148
17
..0'
Khidcrhook //i((/«oh— 1st mortgage, gold
Kings County Klcvated— Stock
1st mort., gold, series "A," $550,000 per mile, .c
2d mortgage (.$7,000,000) gold, $550,000 p. m..c*
Funded coupon scrip
Fulton Elev. 1 St M. ,Ser. A,ii!550,000 p.m. ,g.,guar.o*
<£•
6
6
6
3%
Kingston it Pembroke— 1st M.,golil,(rcdera. at 105).
c"
Knorr. Cum. (lap it Lonis-lst mortgage, gold
2d mortgage, gold
e*
113
70
South— lsfa..tor91,250,000.<f
36
36
725
725
725
725
Lake Eric
AUianre<f:
Size, or
of
Par
1890
1888
1889
1890
Bondii— Prtnal
INTEREST OR DIVIDENDS.
pal. When Du*!.
Amount
Wben
Outstanding Rate per Payable Wbere Payable, and by
Whom
Cent.
$<b£
N. Y. Office, 2 Wall St.
In default.
In default.
Boston, Am. Loan & Tr.
$1,280,000
3,750,000
400,000
887,000
500
8toek*~lM!^
Dividend.
Jan.
Jan.
July
1930
1,
1,
1,
1938
19»
1920
I
rf-
2d mortgage, Income, bonds for $1 ,300.000
Keokuk d Des i/o.— 1st M., Int. guar. C.R.l.&P.
Keokuk <t Western — Common stock
Date
Road. Bonds Value.
Kantat
71
70
Inc. bonds, non-cum., g. (red. after 1897 at 106) c
Lake Erie it Western—Com. stock, $20,000 per mile
Pref. stock, 6 per cent (not cum.) ($20,000 p. m)
c
Ist mortgage, ($10,000 per mile) gold
2d mort., for $3,G25,000 ($5,000 per mile) gold.o
1881
1886
1889
1890
1888
1,000
1888
1,000
1890
1,000
1878 100 &c.
100
1889
ioo
1885
1,000
1888
1,000
1890
1889
1882
1888
1889
1887
1887
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1887
1891
1,000
1,000
1,000,000
8g.
N.Y.,B'k of Com.;Loul8
Iilar.,
(?)
2,500,000
800,000
2,750,000
5
4,000,000 2 per an. A. &. O.
375,000
6 g. J. dk D.
3.250,000
3,377,000 5 gd[6 J. & J
3.377.000
A. & O
434,700
5 to a
April 1
1.979,000
M. &. S.
572,000
J. & J
1,650,000
J. <fe D,
500,000
A. &. O
306,000
J. & J.
1,669,000
11,840,000
11,840,000 See text. Q.— F.
7,250,000
J. &, J.
1,500,000
5 g. J. A J.
%'
1911
Dec, 1916
do
do
400,000
600,000
300,000
April, 1919-
Louisville, Ky.
Juno 1,
N. Y. & Frankfort.
Aug. 1,
Jan., '91, coup.last paid July 1,
N. Y., 13
Oct. 1,
Oct. 1,
Deo.
do
N. Y., Atlantic Tr. Co.
Am. Ex.
190»
July
wmiam 8t.
do
5,
1,
192&
198S
190O
Nat. Bk.
Jan.
Inter'st funded till 1893 Apr.
New York.
Apr.
N. Y., Am. Ex. Nat. Bk. Moh.
N.Y.,R. P. Flower&Co. Jan.
N. Y.,
N.Y., 59 Wall
do
\-
& London.
do
June
Oct.
Jan.
Jan.
1,
1,
1,
1,
N. Y. Office, 80 Br'dway Nov. 15,
N. Y., Chase Nat. Bank, Jan. 1.
do
1029
191»
1928
1920
192S
189»
do
July
1,
192»
191»
192»
191»
1917
1917
1892
1937
1941
Bottoms and the valley of the Blue and Brush Creek. It provides
Keoknk Sc 'W^estern.—Owns Alexandria, Mo., to Van Wert, la.,
terminal facilities for the railroads centering at Kansas City, and 143 miles operates Keokuk to Alexandria, 5 miles was formerly the
furnishes quick transit from tlie manufacturing suburbs along the Missouri Iowa & Nebraska, part of the Wabash system sold in foreelo*Blue Valley. By recent extensions, and in connoctlou with the Union ure August 19, 1886, and reorganized under this title.
Terminal Railroad, now under construction in Kansas City, Kansas,
MoRTOAGE NOTE.— A 6 per cent note for $210,000, secured by mortthis road also reaches the West Bottoms by a system of viaducts, and
gage, payable at wUl, is outstanding. Dividends— In 1888, 1 per cent;
here makes direct couuectlou witli every road entering Kansas City In 1891. ApiU, 1; Oct., 1; in 1892, April, 1 per ceut; Oct. 1.
from the northwest, west and southwest. It also reaches tlie stockEarnings— From Jan. 1 to Sept. 30,1892, (9 months), gross $294,322,
yards, packing houses, warehouses and manufacturing establishments
of the West Bottoms and of Kansas City, Kansas. On July 2i, 1892, agalnst$298,508in 1891; net, $95,444, against $120,775. Inl891gro8B
consolidated with the consolidated Tenuinal R'v Co. of Kansas City. earnings were $414,274; net, $160,658;"intcrest. $13,516; taxes, $14,Stdcli, *2, '250,000— par $100. Tru^tee of the .Suburban Belt mortgage 314; construction and equipment, $12,742; dividends, $90,((00; lialance,
$40,086. In 1890 gross, $871, ()74 net earnings, $141,433. O. H.
is tlic Missouri Kansas & Texas Trust Co., of Kansas City.
Candee. 52 WUllam Street, N. Y., Vice-President. (V. 54, p. 5'Z4.)
KaiiMas City Watkins & Cnir.—r<See ilfa;).;— Completed in 1892
Kings County Elevated.—Owns road In operation throngb
from Lake Charles, La., northerly to Alexandria, 100 miles. Surveyed
50 miles northwesterly from Alexandria and also pro.lected from Fulton Street, Brooklyn, to fonner city line, 6-14 miles leases Fulton
Elevated, in operation from former city limits to easterly line of
southern terminus to Calacien Pass on Gulf of Mexico, 25 miles.
See V. 54, p. 761. At Alexandria road connects witli Houston Cent. Montauk Avenue, 1% miles; projected to Jamaica, 1% miles.
Arkansas & Northern (Mlssoiiri Pacific), making througli line to St.
Stock.- Stock authorized and outstanding, $3,250,000; par, $100.
IjOuIs and points north
also witli Texas & Pacillc for .Vew Orleans and
Bonds. — Interest on second mortgage bonds for 1890, 1891
the West. Bonds Issued at $15,000 per mile, but tliis may be Increased 1892 is funded into 10-year debenture scrip. This scrip receives and
1 per
to $20,000 for future requirements. Mortgage trustee. Farmers' Loan
cent interest till April 1. 1891, then 3 per cent till April 1, 1892, then *
& Trust Co. Stock authorized, $10,000,000— par $100. J. B. Watklns, per cent till April 1, 1893, and thereafter 6 per cent yearly. Of the Ist
President, No. 2 Wall Street, New York. (V. 54, p. 525, 761.)
mortgage bonds $200,000 are 6s; trustee is Mercantile Trust Company
Kanaam City Wyandotte &. NarthwcMtern,—Road from of New York. (See abstract of first mortgage in V. 49, p. 237.) The
Kansas City to Beatrice. Ncl)., 175 miles, of which Seneca to Axtell, 10 Fulton Elevated Railroad is leased for 99 years, and its bonds guaranmiles and Virginia to Beatrice, 14 miles are leased. Owns branches teed, principal and interest. Bills payable were $308,667 July 1, 1892,
to Leavenworth, etc., 17 miles. Leases Tonganoxie to Carbondale, 43 agaiiLst $153,000 July 1, 1891.
miles. Total operated, 235 miles.
ANNUAL Report.— Fiscal year ends June 30. Annual statement for
Receiver was appointed in 1890. On June 18, 1891, a decree of fore- 1891-92, with balance sheet, was in V. 55, p. 421, showing gross earnclosure was entered, but sale has not yet been ordered. In June, 1890, ings were $879,887; net, $320,270 interest on bonds, $187,016; other
a large interest in tne road was purchased by Mr. Jay f Jould, and in interest, .$30,717; taxes, etc., .$39,964; surplus for year, $62,573. In
May, 1892, this was increased to a minority interest iu both stock and 1890-91 gross, $811,069. President, James Jourdan. (V. 52, p. 391;
;
;
;
;
;
;
bonds.
It is said Mr. Gould will proceed with tlie foreclosure proceedings with a view to a sale in December, 1 892, or soon after. Receiver's
oertiflcates outstanding, car trusts and reorgHUization expenses it is said
will aggregate about $800,000. V. 54, p. 889, 1047. Stock Issued,
Receiver's certlflcatos for $64,000 were
$2,073,000; par, $100.
outstanding July 1, 1891.
From January 1 to Octolier 31, 1892,
(10 months), gross earnings were $280,967, against $245,010 in 1891.
In the calendar year 1891 gross earnings were $320,506; deficit under
operating expenses, $35,688. (V. 53, p. 880; V. 54, p. 889, 1047; V. 55,
p. 297.)
Kearney & Black Hills.—Owns road from Kearney to
Neb., 66 miles
;
opened in 1890.
Callaway,
Belongs to Union Pacific system.
Kentucky Central Ratlivay.—See Louisville Nashville.
Kentnrky Sc Indiana Bridge.—Owns steel cantilever bridge
<Se
over the Ohio River at Louisville and 5 miles of railroad between
Louisville, Ky., and New Albany, Ind.. and 5 miles of belt line in
Louisville
operates Now Albany Belt & Terminal RR., 2 miles;
also owns and operates the Louisville & New Albany Ferry Co. and the
New Albany Street Car Co. Capital stock $1,700,000 (par $100). The
City of New Albany, Ind., guarantees the company's first mortgage
bonds. In 1890-91 gross earnings were $175,574 net, $103,524; interest, eto., $100,831.
;
;
V. 53, p. 256, 754; V. 54, p. 204, 924; V. 55, p. 421.)
Kingston & Pembroke.—Owns from Kingston, Ontario, Can., to
Renfrew on the Canadian Pacific Railroad, 104 miles; branches, 9 miles;
mUes. Bonds are redeemable on notice at 105. In Septemcompan>' was proposing to issue 5 per cent bonds to retire
total 113
ber, 1892,
Company received nearly $1 ,000,000 in municipal bonuses.
tor 1889 In V. 50, p. 390. Stock, $4,500,000
par, $50. Qross
earnings, 1890, $178,864; net, $44,435; surplus above charges,
$6,865. In 1889, gross, $182,875 ; net, $48,363 ; surplus over Interest,
$14,043. See full statement In V. 44, p. 402. (V. 50, p. 390.)
present 68.
Report
;
Knoxvllle Cumberland Cap &. Ijonlsvllle.- KnoxvlUe. Tenn.,
with tunnel at Cumberland Gap, to a connection with the Louisville A
Nashville at Middlesiuu-o, a distiince of 74 miles branches, 7 miles.
It forms witli the Marietta & North Georgia a direct lii.e, opened in
August, 1890, to .Mlanta, Ga. The mortgage is for $1,500,000 on 70
miles and provides for the Issue of .$500,000 additional at. $15,000 pep
mile for extensions. The City of iCnoxville subscribed to $225,000
stock. Stock authorized: Common, $1,575,000; preferred. .«1,380,000; par, $100; paid in $2,730,000. Earnings.— tn year ending June
30, 1891, gross earnings, $162,052; net, $36,652; interest, $54,000;
taxes, etc., $6,928; lialance, deficit, $24,'275. (V. 48, p. 420; V. 51, p.
345.) New York office. 59 Wall Street.
;
Ijake Erie Alliance & Soutbern.—Owns from Bergholz, O., t*
36 miles. History.— Sold In foreclosure December. 1886,
and reorganized. In January, 1891, the portion of the road exteiidins
from Alliance to Phalanx, '24 miles, it as sold in foreclosure iiader
the old Alliance <t Lake Erie mortgage, and turned over to the Alliance
& Northern Railroad Co. Stock Is $3,CK)0,000; par, $100. Bonds.—
drawing them at par if unpurchasable.
First mortgage is for .$1,250,000, and tlie bonds unissued are reserved
Kentucky Union.—Owns from Lexington, Ky., to Jackson, Ky.t for extensions at $25,000 per mile. Earnings. —Jaiiuarv 1 to Sept. 30,
about 92 miles. Receivership.- In February, 1891, Mr. H. F. Kean, 1892 (9 months), gross earnings, $59,579, against $53,952 in 1891; net
of New York, was appointed receiver, and in April, 1891, he was earnings. $12,933, agst. $10,466. In 1891 gross, $75,087; net, $14,1 41.
granted permission to complete the road to Jackson, 3 miles, and to In 1890 gross, $68,008; net. $11,762. (V. 52, p. 164; V. 53, p. 58.)
Issue 6 per cent receiver's certificates for $125,000, of which $100,000
Lake Erie Sc Western Railroad.—f See Jfn/).;— Owns from Sanoutstanding September 1, 1892. See V. 52. p. 642. Bv order of the dusky, O., to Peoria, 111., 420 miles, and branch to Minster, 10 miles,
tJ. S. Court at Louisville in July, 1892, the Lexington Belt Line is to
and from Indianapolis to Michigan City 102 miles also Fort Wayne to
be transferred to this company for $235,000. (V. 55, p. 146.)
Connorsrille and branch to Rusu\ille, 133 miles total, 725 miles.
Capital Stock issued, $5,000,000 (par, $100), of which the counties
History, Etc.— Company formed in 1887 after foreclosure (on Dec.
of Clark and Fayette and city of Lexington subscribed .$300,000.
14. 1886,) of the Lake Erie & Western Railway. In Mar., 1887, purchased
First MoRTdAOE covers road and equipment. Tlie bonds were guar- the Indianapolis Peru & Chicago Road, 16'2 miles, and In June, 1890,
anteed principal and interest by the Kentucky Union Land Co., whicfi liad acquired the Fort Wayne Cincinnati <fc Louisville. (See Chronicle, V.
a capital of $5,600,000, without mortgage debt. There are also $57,000 50, p. 590.) The terminals at Indianapolis, Peoria, Fort Wayne an4
of 6 per cent oar trusts outstanding, interest payable Q.— M. at the New Castle are operated partly under lease. This comjiany contemAtlantic Trust Company.
(V. 52, p. 203, 279, 427, 642: V. 55, p. 146.) Slates building in the future the Indiauapolis & Northwestern, from
[uncle to a point on the Indianapolis
Keoknk Ac Des ITIoInes.^Owns from Keokuk, la., to Des Moines, from Sandusliy to Indianapolis. See V. Division, to make a direct lln»
52, p. 497.
la., 162 miles. Leased for 45 years from Octolier 1, 1878, to the Chicago
Dividends— On preferred stock— In 1890, 4 per cent; In 1891, 4 la
Bock Island & Pacific R.ailroad, tlie lessee to pay 25 per cent of the
gross earnings, liut guarantees the interest (not the principal) on the 1892, Feb., 1 percent; May, IH; August, II4; November, lU.
Price of Stock— Common stock In 1887, 13®24ifl; in 1888, 12'«'»
nreiient bonds. Tlie stock is $1 ,524.600 8 per cent preferred and $2,000,
1890, lOiaSlO's; In 1891, 12i3324i«;
400 common (par of l)oth $100), a majority of which Is held by the lessee 19%; in 1889, 16»2038; in 20i4®27%.
In 1892, to Nov. 18 inclusive,
Klnderhook It Hudson.—Kinderhook to Hudson, N. Y., 17
Preferred stock.- In 1887, 39%®61; In 1888, 40'4®55''e; In 1889,
miles. Opened in July, 1890. Stock, $170,000; par, $100. Mortgage 5138®66i4; in 1890,44®68; in 1891,53370; in 1892, to Nov. 18, Intrustee, Atlantic Trust Co.
clusive, 69 14® 80.
Kentucky Midland.—Owns road Frankfort, Ky., to Paris, Ky.,
40 miles; completed in 1890. Extensions projected. Stock authorized.
$1,250,000. First mortgage Is for $5,000,000, trustee. Central Trust Co.
The sinking fund liegins Aug. 1, 1893, and is to be sutflcient to retire
entire issue by maturity, purchasing the bonds at or below 105, or
Alliance, O.,
;
;
mVESTOES' SUPPLEMENT.
[Vol. LV.
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NovmiBER,
1892.]
RAILROAD STOCKS AND BONDS.
rar
.
INVESTORS' SUPPLEMENT.
T4
Snb«criberH
confer a great favor by
ivlll
RAILROADS.
C^r explanation of column
hoadlnf^n, &c., see notes
'
Miles
of
—
Michigan Soiithem Stock
Guaranteed 10 percent Btock
Buffalo & Erie 1st m. (Buffalo.N. Y.,to Erie. Pa.) .0
Lake Shore div. bonds (Buffalo to Toledo, 0.)....c
Consol. l9t mort.8lnk.fund lj!250,000 yearly. o&r
oAr
Consol. 2dmort. (for $25,000,000), do
iiOke Shore
i£
88
258
864
864
Proprietaky Roaus— Ownki) Wholly By L AKB 8
& Toledo
Detroit Mouroe
Kalamazo & White Pigeon
62
37
41
29
Ist mortgaRC, guar..
o
Ist moit., guar
Bat. Cr. & Stur. lstM.,g.,p.* 1. guar. (see M.Cen.)
Sturgls Goshen A- St. L. iHt mort., g., p. 4 i. guar.
DEBT OF Leased Roads— Interest Paid as R
F.NTA
Kal. Allegan & Gr. Rapids stock, 6 p. c. guar.
o
Ist mortgage, guaranteed
Jamestown & Franklin (leased) 1st mortgage.
o
2d mort(f age
Uahoulng coal stock
Preferred stock, guaranteed 5 per cent
Ist M., Youngs, to And., etc., guar. p.&l.(cnd).o
laav. Top. it S. if.— l8tM.,ifiguar.byAt.&>3byUn.P.
Xithigh it Hudson River— lat M.,g.,lnt.red'c'dto5p.c.
58
58
51
51
43
43
43
46
41
63
22
2d mortgage
Ist & 2d Ms. ($240,000 2d8,1912)
Ist mortgage
Hud. River Con.M.for $3,000,000,gold..c*
c
Zithrigh it Lackawanna— 1st mortgage
Iithigh FaWci/— Stock ($106,300 is 10 p. c. pref.)
1st mortgage, coupon and registered
r
2d mortgage
Con. M., sterling, g.,8.f.2 p.o.y'rly, dr'n at par.c&r
coup, andi regis.. $2,904,000 are 4138. cAr
do
annuity, $1,896,000 are 4128
do
Warwick Valley
Wawayanda RR.
Leh.
&
Bonds.— Abstract of first mortgage
Uason,
Immediate notice of any error discovered In tbene Tables.
Bojidg— PrinciINTEREST OR DIVIDENDS.
pal, When Due.
Date Size, or
Amount
Par
of
Outstanding Rate per When Where Payalile, and by Slock*— iMBi
{(Ivlng;
Road. Bonds Value.
on first page of tables.
(Centi-al
63
25
idi
101
285
285
285
fVou LV.
Whom.
Payable
Cent.
Dividend.
$100 $49,466,500 See text, F. & A. N.Y.,6rand Cent. Office,
533,500
per an F. & A.
100
do
do
2,756,000
7
A. & O.
1868 500 &0.
1,000
1,355,000
7
A. & O.
1869
1,000
15,070,000
1870
7
See rem.
1873
1,000
24,692,000
7
J. & D.
HORE.
Coupons are paid
924,000
7
F. & A.
1876
1,000
by Treasurer at
400,000
Grand Central
1890
1,000
5g. J. & J.
Depot, New York,
1889
79,000
?«• J. & D.
322,000
and registered In1889
3g. J. & D.
terest by Union
L.
100
610,000 6 per an. A. & O.
Trust Company.
1,000
840,000
5
1888
J. & J.
1,000
298,000
1863
7
J. & J.
1,000
500,000
7
J. & D.
1869
50
1,500,000 See text. F. & A. N. Y., Gr-d Cent. Stat'n.
50
661,850 5 per an. J. & J. N. Y., Union Trust Co.
do
do
1,000
1,500,000
5
J. & J
1884
1,000
.1.
& .1 Boston.Am.L'n ATr.Co.
1882
1,380,000
1881
1,000
800,000
t«- .1. * ,r N. Y., Nat. Exch. Bank,
do
do
1,000
208,320
5
,1.
& 3
1887
79-'81 500 &o.
A. A
do
do
385,000
6
1880
65,000
6
.1.
A ,1
1,600
1890
585,800
5 g- .1. & J N. Y., Nat. Exch. Bank
1877
1,000
100,000
7
J. <fe 1) Phila. ,Fid. I.& B.Dep.Co.
50 40,441,310 See text, Q.-J. Pliila., 228 So. Third St,
1,000
1868
5,000,000
6
J. & D Reg.atottice; cp.Bk.N.A,
1,000
1870
6,000,000
7
M & S Phila. Of., 228 So. 3d St,
do
1,000
& D
do
1873
1,916,000
6
.f.
1,000
1873
11,490,000 4i«&6 •r. & D Reg.at offlce;cp.Bk.N. A,
1,000
5,739,000 412&6 J. & D Plilla..Of.,228So.3dSt,
1873
is
for 1891
$455,479
216,509
$555,519
$322,803
441,U01
223,256
Calvin S. Brlce, New York, President.- (V. 52, p. 497
668, 604, 712; V. 54, p. 443, 444, 559.)
Balance, surplus
Betterments
Aug.
1,
1,
1,
1,
1906
1940
1989
1989
1,
1,
1892
1938
Jan.
Dec.
Deo.
Oct.
July
Var. toJ'ly,'97
June
1894
1892
1892
1934
1912
1911
1917
1900 A 1912
1900
July 1, 1920
Aug.
July
July
July
July
July
1,
1,
1,
1,
1,
1,
1,
Deo.
1,
Oct. 15,
Jime
1,
Sept. 1,
Deo. 1,
Dec. 1,
19OT
1892
1898
1910
1897
1923
Irredeemable.
31. Annual meeting
first Wednesday m May, at Cleveland. The annual report
was published in V. 54, p. 760. See also V. 54, p. 742.
OPERATIONS AND FISCAL RESULTS.
—(V. 51,
—
1892
1892
1898
1899
1900
1903
held the
In June, 1890, it was voted to authorize $3,625,000 of 2d mortgage
bonds ($5,000 per mile) of which $1,500,000 have been issued. The
trustees of this mortgage are Cent. Trust Co. of N. Y. and Robt. C. Belief
Ind. Full abstract of second mortgage was in V. 54, p. 444.
Earnings.— From January 1 to Sept. 30 (9 months), in 1892, gross
•arnings were $2,603,878 against $2,372,489 In 1891; net,$l,l.'i5,807
•gainst $1,018,211; Interest, rentals, etc., $473,446, against $388,082;
balance, surplus, $682,361. against $630,129.
Annual Report. Fiscal year ends December 31. Annual meeting
1b held at Peoria on tlrst Wednesday In October. The annual report for
1891 was in V. 54, p. 559. The following Includes the Fort Wayne
Cincinnati & Loulsvill*.
1891.
1890.
1889.
$3,074,438
$3,273,355
$2,839,278
Gross earnings
$1,447,897
$1,275,656
Ketearnings
fl,116,249
Deduct
363,771
363,000
332,750
Interest on bonds
146,503
155,068
1»9,320
Taxes and rentals
Bivldends
(1%) 118,400 (4%) 473,600 (4%)473,600
—
1,
1,
1,
1,
1,
1,
Anncal Report.- Fiscal year ends Deceml>er
Trust Company and A. L.
trustees). In V. 46, p. 45.
Aug.
Aug.
Apr.
Apr.
July
Deo.
1890.
1891.
1888.
1889.
Miles operated
1,312
1,410
1,445
1,445
Total gross earnings $18,029,627 $19,487,196 $20,865,760 $21,431,385
Oper. exp. & taxes. 11,310,371 12,847,452 14,220,481 14,632,675
$6,719,256 $6,639,744 $6,645,279 $6,798,710
68-15
68-27
62-73
6593
Net.incl. oth. inc'me $6,939,148 $7,022,285 $7,144,037 $7,254,333
$564,419
$557,153
$517,418
$507,645
Rentals paid
3,225,723
3,204,370
3,245,015
Interest on debt
3,257,515
53,350
53,350
53,350
53,350
Divld's on guar. s'k.
Net earnings...
P.c.ofop.ex.toear'gs
Total disb'sem'ts $3,828,283 $3,806,010 $3,843,492 $3,814,873
3,300,545
3,439,460
3,216,275
Surplus for dividend
3,110,865
Dividends
(5)2,473,325 (5)2,473,325(6)2,967,990 (6)2,967,990
p.
$471,450
$332,555
$742,950
$637,540
Surplus
p. 240, 747, 909 V. 52, p. 280, 321, T16, 761, 796, 973: V. 53,
289, 793, 968; V. 54, p. 367, 742, T60, 845 ; V. 55, p. 5, 21, 337.)
;
Leavenworth Topeka & S. W.—Owns from Leavenworth to
Meriden Junction, in Kansas, 47 miles. Operated as part of the St.
Ijake Shore & mclilgaii Southern.— CSee Map New York Cen- Joseph A Grand Island Division of the Union Paciflc, its stock ($1,tral it HndsoH River.)— Ov/na from Bufi'alo, N. Y., to Chicago, HI., 540 380,000) being owned one-half each by Union Pacific and Atchison
miles; branches, 319 miles; total owned, 859 miles. Proprietary lines Topeka A Santa Fe. Of the bonds $690,000 are guaranteed by Union
(entire stock owned) Detroit & Chicago, 68 miles Detroit Monroe & Pacific, the balance by Atcliison. Accounts payable were $806,877
Toledo, 62 miles Kalamazoo & White Pigeon, 37 miles; Northern Cen- Jan. 1, 1892. In 1891 gross $30,164 deficit from operating, $43,149
tral (Mich.), 61 miles; Sturgis Goshen A St. Louis &c., 36 miles; (against $53,035 in 1890) deficit under charges, $105,857, against
total, 263 miles. Leases Kalamazoo Allegan & Grand Rapids, 58 mUes; $118,507 in 1890.
Jamestown & Franlclin, 51 miles Mahoning Coal RR., Youngstown to
liehlgh & Hudson River.—Owns from Greycourt, on Erie Road
Andover, O., and branches, 50 miles; Detroit Hillsdale & Southwestern, to Belvldere, N. J., 63 miles. Proprietary line— Hudson Junction to
€5 mUes; Fort Wayne & Jackson, 98 miles total, 322 miles. Total road Maybrook, N. Y., on line to the Poughkeepsie Bridge, 11 miles trackowned, leased and operated Jan. 1, 1892, 1,445 miles.
age Pennsylvania RR., Belvldere to PhiUipsburg, 13 miles other mileObganization, cfec—This company was a consolidation of the Lake age, 3 miles; total operated, 90 miles. In Augu.st, 1888, the Central
Shore RR. and Michigan Southern & Northern Indiana RR., May 27, of New Jersey purchased about one-tbird the company's stock, and
1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning this, with the stock held by the Lehigh Coal A Navigiition Co., controls
Coal RR. is leased in perpetuity at 40 per Mnt of gross earnings, and the road. Car trusts, 6 per cent, $53,430. Stock, $1,340,000; par, $100.
Lake Shore owns $865,900 The general mortgage for $3,0(K),000, (trustee. Central Trust Company
Its preferred stock and bonds guaranteed
of its common and $399,500 of its preferred stock. The N. Y. Chlo. & of New York), covers the stock of the proprietary line, and $1,750,000
St. Louis (Nickel Plate) road has been controlled by ownership of bonds are reserved for prior bonds when due. Loans and bills payable
Btook since 1882, Lake Shore now owning $6,240,000 of its common, were $279,500 July 1, 1892.
From July 1, 1892, to Sept. 30, 1892 (3 months), grosseamlngs were
$6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock.
The company owns also (besides the entire stock of the proprietary $134,310, against $111,521 In 1891; net, $61,661, against $53,748.
lines) $2,000,500 Pittsburg & Lake Erie stock and $169,100 common
In vear ending June 30, 1892, gross earnings were $391,343; net,
ftnd $774,400 prefen-ed Cleveland Lorain & Wheeling.
$185,078; interest on bonds, $109,030; other interest, $18,549; credit
items, $5,199; balance, surplus, $62,098. In 1890-91 net, $143,435;
Capital Stock.—The stock has remained at $50,000,000 since
1871. The guaranteed stock of $533,500 carries 10 per cent dividends. surplus over charges, $33,704. Grinnell Burt, President, 80 Broadway, N. Y. City. (V. 53, p. 714, 879; V. 54, p. 289, 888; V. 55, p. 298,
Dividends.—On common stock since 1876; in 1877, 2; in 1878, 4; in 5 43.)
1879, 6I2; in 1880, 1881, 1882 and 1883, 8 per cent each year; in 1884,
liehlsh Valley.— r See Map)— 'M.a.in Une, Newark, N. J., to Buffalo
7; In 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; In
N. Y., I43 miles; branches to Audenrled, Tomhlcken, Hazleton,
1890. 5 in 1891, 61a in 1892, Feb., 213 and 1 e.xtra Aug., 3.
Ao., 450 miles Southern Central RR., 114 miles State Line & Sullivan
Mahoning Coal common stock paid in 1889 413 per cent; in 1890, 5
RR., 24miles. Total system, November 30, 1891, 1,031 miles second
In February, 1891, 413 in 1892, Feb. 519, August 3.
Trackage: Pennsylvania Railroad, 50 miles;
track, 337 miles.
Price OF Stock.— In year 1884, 59i2®104%; in 1885, 50%a89''8; New York Central, 15 miles; Central of New Jersey, 21 miles. Comlnl886, 76i«®10038; in 1887, 89®98%; in 1888, 85i4a'104''8; In 1889, pany opened a through line of its own from New York to Buffalo Sept.
«9%®108ia; in 1890. 101®114i8; in 1891, 105iax®127: in 1892, to 1, 1892, and discontinued the trackage of 188 mUes over the Erie. (See
Kov. 18, inclusive, 120®140i3.
50, p. 834.)
Bonds.— Interest on the consolidated firstmoitgage is paid on coupon V.A consolidation of the Lehigh Valley Transportation Company and
bonds J. & J., on registered bonds Q. —J.
the Northern 88. Company, the lake connection of the Great Northern
The first consolidated mortgage bonds or the bonds prior thereto are RR., was made Sept. 1, 1892. See V. 55, p. 322.
redeemed each year by $250,000 contributed to the sinking fund. The
Lease.— In 1892 the Lehigh Valley and the Central Railroad of
above bonds of all classes outstaudiug are given leas the amounts lield New Jersey became parts of the Philadelphia A Reading system,
amounted
;
V. 53, 407.
;
;
;
;
;
;
;
;
;
:
;
;
;
;
;
;
to $5,500,0(K) Sept. 1, 1892. thus bringing under one management a large portion of the anthracite
In the sinking funds, which
Clev. Pniues. & Ash. 7^ for $509,000 were paid in 1893.
production of the country. Tlie Lehigh Valley is leased to the
General Finances, Ac- This is one of the so-called Vanderbllt coal
Reading for 999 years from December 1, 1890, the Reading guaranteeroads. It lias a largo business but is greatly dependent on through ing li4per cent on the stock in July, 1892, 113 per cent both in October.
tratilc, or traffic from competitive points.
1892, and Jan., 1893, and thereafter 1% quarterly (7 ji. c. yearly), and
Jifothing has been charged to construction or equipment account since agreeing to turn over to this company one-half the surplus earnings
1683, the outlays therefor charged to operating expenses amounting in aliove the guaranteed 7 per cent dividends up to 10 per cent, after
1891 to $1,330,000, this being exclusive of e.xpeuditures for renewals.
which tlie Reading retains all profits. The Reading has deposited with
EABNiNfis.— Report for half-year ending .Tune 30, the month of June Me.'fflrs. Drexel, Morgan A Co. of New Y'ork $3,000,000 in securities to
being partly estimated, is as follows. (V. 55, p. 21; see also p. 4, 337).
secure tlie lease. See Philadelphia A Reading and V. 54, p. 288. Suits
Half-year ending June 30—
1891.
1892.
have been brought to set aside the lease. See references below.
<Jross earnings
$9,550,047 00
$10,708,234
Coal Property.— The Lehigh Valley Coal company owns 22,723
Operating expenses and taxes. (69-20) 6,609,009 00 (69-29) 7,420,573 acres of anthracite coal lands and leases 13,092 acres. It also owns a
.
Net earnings
Int., rentals
A guar,
dividends..
Balance to stock
Equals per share
Dividends on oommon stock. ...
Surplus..
$2,941,038 00
1,680,000 00
$1,261,038 00
$2 '55
1,236,662 50
(2I3)
$24,375 50
$3,287,661
1,680,000
$1,607,661
$3-25
1,483,995
(3)
$123,666
majority of the stock in other corporations owning 14,259 acres. The
Lehigh Valley Railroad Company owns 3,619 acres of coal lands. All
Company is owned by the Lehigh
Valley Railroad Co., but its $500,000 of 5 per cent bonds due January,
1910, are not guaranteed by that company.
DIVIDENDS.— On oommon stock since 1880 In 1881, 513; in 1882, 6I3;
in 1883 and 1884, 8 in 1885, 6 in 1886, 4 ; in 1887, 413 from 1888
to July, 1892, both Inclusive, II4 per cent quarterly, being at rate
of 5 per cent yearly; in Oct., 1*8 per cent. (See terms of lease above.)
of the stock of the Lehigh Valley Coal
—
;
;
;
NOTBKBBB,
1893.
J
RAILROAD STOCKS AND BONDS
7S
;
;
76
Subscribers
nrlll
MUes Date
of column headings,
on first page of tables.
for explanation
&c., see notes
of
25
105
105
105
60
—
Easton & Amboy, Ist M.guar.Easton to P.Amboy
Delano Land Co. bonds, gold, guar. p. &i. (end.)..
—
52
LitcKticld Oarroll.diWesl.—istM. ($10,000 p.m.),g.c*
c*
Ziille Falls d uodgeville.— 1st mortgage, gold
Idttle Miami— Stk. com., gu. 8p. c. 99yrs.P.C.&8t.L.
.Btreet con. 1st & 2d Ms. (jtly. with Cin. & I. BE.) .c
c
Eene wal mortgage
c
Idttle Rock <t Memphis— First mortgage, gold
12
2
84
135
28
JAttle Schuylkill— dtook
tMng /steHd— Stock
main
line
of
XNTEBE8T OE DIVIDENDS.
Size, or
When
Outstanding Bate per Payable Where Payable, and by
Cent.
Whom.
94
158
180
180
o*
o"
($1,390,000 reserv'dfor prior b'ds)o*
General mortgage, gold
c*
Metropolitan Ferry Co. lstmort.,gold, red. at 110,
X. I. ER. mort. on ferry for $2,750,000, gold...c'
SI. g.
New York & Flusliing 1st mortgage, assumed c*
Brooklyn & Montauk Ist M., $250,000 are 6s...
Second mortgage, gold, assumed
c'
liong Island City & Flushing Ist M,. assumed, .c*
X. I. C. & Flusliing, con. mort., gold, assumed.. c'
Sew York & Eockaway 1st mort., int. only guar..
Bmithtown <t Port Jeff. 1st M., guar. prln. & Int
2
76
76
23
23
19
19
L.I.ER.NorthSh. Br. con8ol.M.$I,500,000,guar.c'
[lOuisiana Western 1st mortgage, gold
liouisv. Evansv. it St. L. Consol.— let mort. E.E.&E.
L. E.&St. L.lstM.,g.,(l8tonl82m.,2don72m.)c
—
112
72
182
4iag.
1890 fl.OOO $15,000,000
1891
10,000,000
1,000
?«•
1866
1,.500,000
1,000
1866
1,000
1,500,000
7
1888
1,000
7,000,000
4&5
1880
1,000
6,000,000
5
1892
1,000
1,200,000
5g.
1886
1,000
516,000
1891 100 &0.
250,000
^«o
50
4,943,100 8 per an.
1864-8
1882
1887
....
1,000
1,000
1,000
50
50
500
1868
1878 100 &c.
1881
1,000
1888
1,000
1887 500 &c.
1892
1,000
1880
1,000
1881
1,000
1,000
1888
1881
1,000
1,000
1887
500
1871
500
1871
1892
1,000
1,000
1881
1,000
1881
1886
1,000
Price of Stock.— Common, In Philadelphia—in 1884, 57®71''8; in
1885, 54ia®61i4; In 1886, 55»4®62; in 1887, 5378®57%; in 18S8,
Sl'4ai57''8; in 1889, 52®55; in 1890, il^'SiSi^; in 1891, 45''8®51i4;
fs 1892, to Nov. 18 inclusive, 50i4®62i3.
Boxas.— The consolidated mort. of 1873 (trustee. Fidelity Insurance,
TCrast & S. D. Co. of Phil.) is for $40,000,000, of which $12,000,000 are
twserped to retire $11,000,000 prior liens when due. The bonds are
Issued i» three series, of which the sterling issue, "class A," is subject to
call at par in increasmg amounts each year, $285,000 being the amount
fiayable ia 1892. A second series is composed of the " coupon and regBtered " bonds, which are not subject t« call, but wlilch prior to Nov.
13, 1893, may be converted at option of holders into bonds of the tliird
series, these last being annuity bouils and irredeemable, never falling
J.
A.
J.
J.
A.
M.
J.
J.
J.
2,240,000
900,000
2,000.000
,S(ocA:«— Last
Dividend.
& J. N.Y.,Merch.N. Bk.&Ph. July 1, 1940
& O.
do
do
Oct. 1, 1941
& D. Phlla., Bk. N. America. June 1, 1896
& D.
do
do
June 1, 1906
& C Phila., Lehigh Val. EB. Apr. 1. 1939
& N. Phlla., Of., 228 So. 3d St.
1920
& J.i
do
do
Jan. 1, 1932
& J. N. Y., Am. Ex. Bk.
Jan. 1, 1916
& J. N. Y., Metropolitan Tr. July 1, 1921
Q.-M.
Clnn.,Otlice, IstNat.Bk.
Deo. 10, 1892
Various
do
do
M. & N. N. Y., Bank of America.
M. & 8. N.Y.,Moran Br8.,68
J. & J. Phlla., Of., 410 Walnut
Q.-F. N. Y., Corbin Bank'g Co.
M. & N.
do
do
F. & A.
do
do
Q.-J.
do
do
do
do
J. & D.
M. & N.
do
do
M. & 8.
do
do
M. & 8.
do
do
M. & 8.
do
do
J. & D.
do
do
M. & N.
do
do
M. & N.
do
do
A. & O.
do
do
M. & S.
do
do
do
do
|8- Q.-J.
J. & J. N.Y., 8. Pac.Co., 23 B'rd
t'- J. & J. N. Y., Security &Tr. Co.
do
6 g. A. & O.
do
1894-1898
Nov. 2, 1912
6
525,000
1,500,000
5
3,250,000
5g.
2,487,850 7 per an.
12,000,000 5 per an.
1,121,000
7
268,703
7
3,610,000
3,000,000
^
t g.
1,250,000
5
4l2g.
1,500,000
125,000
6
1,000,000 5&6g.
600,000
i«600,000
650,000
5 g7
250,000
7
75,000
(!)
Bojm/s— Prtnol!pal,^Vhen Due
I
Amount
Par
Bead. Bonds Value.
Kithigh T alley— (Concluded. )—
i^h.Val. of N.Y., 1st M. $15,000,000,gold.gu.c*&r
Leblgh Val. Term'al 1st M. gold (guaranteed). c*&r
Pennsylvania & N. Y.— Ist M. end. by Leli. Val.c*
c*
let mortgage, endorsed by Lelitgli Valley
Gen. mort.,$10,000,000, guar.prin. &lnt.(end.)r
Ist mortgage,
.2d mortgage
fVoL. LV.
confer a great favor by glirlng Immediate notice of any error discovered In these Tables.
RAILKOAD8.
Oonsol.
SUPPLEMENT.
INVESTOES'
,
;
Wm
I
Seirt. 1,
July
Nov.
May
Aug.
July
June
Nov.
Mch.
Mch.
Mch.
June
May
May
Apr.
Sept.
Oct.
July
July
Oct.
5,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1.
1937
1892
1892
1898
1918
1931
1938
1937
1922
1920
1911
1938
1911
1937
1901
1901
1932
1921
1921
1926
59. Stock, $3,250,000; par, $100. From January 1 to Aug. 31, 1892,
gross, $351,943, against $108,632 In 1891. In 1891 gross earnings
were $709,083; net, $186,345; surplus over charges, $26,844. Rudolph
Fink, President, Memphis, Tenn. (V. 54, p. 1048; V. 55, p. 59.)
I/one Island.— Owns from Long Island City, N. Y., to Greenport,
N. Y'., iJ5 miles; Long Island City to Great Neck, 14 miles; Bushwlck
to Sag Harbor, 97 miles ; branches, 82 miles; total owned, 288 mUes.
Operates North Shore Branch road (formerly Smithtown & Port Jeffer
son BR.), 19 miles; leases Stewart's EE. to Bcthpage, 14 miles Stewart's BE. to Hempstead. 2 miles; New York & Eockaway BE., 9 miles
Brooklyn & Jamaica BE., 10 miles New York Brooklyn & Manhattan
Beach Bailway and branches, 20 miles total leased, 74 miles. Total of
—
;
:
;
all,
362 miles.
Organization, Stock, Etc.— Control was acquired In December,
due except in ease of default. All these Issues are equally secured.
Lehigh Valley Bailway Co.mpany of New York.—Owns a road 1880, by the " Long Island Company," controlled by Mr. Austin Corbin
which extends from Buifalo, N. Y., to Sayre, Penn., ii83 miles double and others. In July. 1881, the stock was increased from $3,200,700 to
track. The company's stock is ail owned by tlie Lehigh Valley Rli., $10,000,000, and afterward in 1889 to $12,000,000 in order to absorb
which guarantees principal and Interest of the 412 per cent bonds of the Brooklyn & Montauk. The James Slip and 34th Street ferries were
1.890, this guaranty being endorsed on the bonds. Trustee of mort- purchased in 1892, and debt increased by $2,750,000 therefor.
The through train service to Boston, via Long Island Sound and the
«age, Girard Life Insurance Company, Philadelphia. (See mortgage
•bstraot V. 51, p. 114. and V. 54, p. 203, 965.)
N. Y. & New Eng., was discontinued in July, 1892. See V. 55, p. 331.
Lehigh Valley Terminal Eailway.— Owns the road from South
Dividends.— In 1882, 1; from 1883 to 1890, both inclusive, at the
Plalntteld, N. J., to Jersey City, with about 125 acres at Jersey City and a rate of 4 per cent per annum; in 1891, 4%; in 1892, February, 114;
large water front there andother property, and its stock of $10,000,000 May, 1 14; August, 1 14; November, 1 HTlie ulor^
(See V. 53, p. 640, 880.)
Price of Stock.— In 1883, 58®86%; in 1884, 62a78i4; in 1885, 62®
igage is for $10,000,000, covering the road and terminal property; Cen- 80''8; in 1886, 80®100; in 1887. 85®99%; in 1888, 87i3®95; in 1889,
«ral Trust Co. of New York, trustee. The bonds are endorsed with the 89i3®96i3; in 1890, 82®95; in 1891, 86®99i4; in 1892, to Nov. 18,
ILehigh Valley's guarant.v of principal and Interest.
inclusive. 95®112.
Penns YLVANi.i & New York Casal & Bailway. Leased for 99 years
Bonds.—The Central Trust Company is trustee of the general mortdrom December 1, 1888, to Lehigh Valley, which has assumed its debt
to 78.
aad owns all its stock. Under its general mortgage of 1889 (trustee, gage of 1888. There are also $241,700 real estate mortgage 5spersonal
The ferry mortgage for $2,750,000 covers all the real and
(Slrsird Life Insurance Company) suflleient bonds are reserved to take
Street and James
Eip srior bonds when due. Lehigh Valley also guarantees Interest on property pertaining to tlie company's ferries (34th
oenain securities of the Morris Canal. (See that company under mis- Slip); $l,250,000bond8lieing reserved to retire the Metropolitan Ferry
oeUaBeous.) There is an important contract for supplying the city of mortgage. 'Trustee Central Trust Co. See V. 54. p. 597.
The L. I. ER. North Sliore Branch Go's, bonds are unconditionally
aiewerk with water. (See report V. 50, p. 137.)
guaranteed aa to principal and interest, and are so endorsed. Of the
Lajtj! ST EAESiNoa.— December 1, 1891, to August 31, 1892 (9 month^,
$1,500,000 authorized, .« 100,000 were authorized for the construction
tgrosK, $13,325,703, against $12,177,242 ; net, $3,260,211, against
of a 12-mile extension, $500,000 to compromise a debt of $1,000,000
^2,4ea,732.
Ankdal Ekpokt.—The fiscal year ends November 30. The last due the L. I. RR., and the balance was reserved to retire by exchange
the same amount of Smithtown & Port Jefferson bonds. V. 55, p. 322.
aumualJt^pert was In the CaEOtriCLE, V. 54, p. 158.
income ACCOUNT.
Earnings.—July 1. to Sept. 30, 1892 (3 months), gross, $1,522,293,
1888-89.
1889-90.
1890-91.
against $1,469,926 in 1891; net, $845,897, against $663,131; other
$16,674,964
$17,432,007
$18,910,261 Income, $59,796, against $22,791; interest, rentals and taxes, $238,043,
OrosB TeedBts
11,951,771
Operating expenses
11,419,383
13,075,910 against $222,087; balance, surplus, $467,650, against $463,835.
Annual Report.- Fiscal year ends June 30. Annual meeting Is held
Total net l&eome
$5,255,581
$5,480,235
$5,834,351 the second Tuesday lu April. Beport for 1891-92 was in V. 55, p. 502.
Disbursements
1890-91.
1891-92.
isowned by the Lehigh Valley BE.
—
—
on debt
$2,168,571
expenses, iccL taxes.
945,768
2,018,202
IDlsidends..-
$2,651,120
694,258
2,027,370
$2,817,240
723,510
2,070,370
TotfiaeUslDiiTseaients.... $5,132,541
$123,040
Balaaoe, surplus
-<V, S2, p. 162, 463, 761. 974 V. 53,
$5,372,748
$107,487
$5,568,120
$266,231
[Interest
ffien'l
p. 289, 640, 880; V. 54, p. 33,
3S7, 761, 867, 889, 965; V. 55. p. 178, 216, 256, 331, 678.)
.I^elilgh tc Lackawanna.— Owns from Bethlehem, Pa., to Wind
iGap, Pa^ 25 miles; thence, in connection with the Wind Gap&Dela<wave Bailrsad, to Saylorsburg and Bangor, Pa., 15 miles. Opened in
1867. Capital stock, $370,500; par, $oO. Gross earnings in 1890,
*70,536; net, $8,867. In 1889, gross, $68,700.
Xlttle Falls <k DodgeTllIe.— Dodgeville, N. Y., to Little Falls on
U. Y. Central, 12 miles. Stock, $250,000.
.lilttle MIan»l.— Owns from Cincinnati, O., to Springfield, O., 84
(miles; liranch, Xenia, O., to Dayton, O., 16 miles; leases, Columbus &
JXenia BE., Xenia, O., to Colimibus, Ohio, 55 miles ; Da;f'ton & Western
IBE., Dayton, O., to Indiana State Line, 38 miles Ohio State Line to
EEichmond, Ind., 4 miles Cincinnati Street Connecting BE., 2 miles
(total operated, 196 miles
Xeabe.— On Dec. 1, 1869, leased to Pittsburg Cincinnati & St. Louis,
«jnow Pittsburg Cincinnati Chicago & St. Louis) fornluety-nine years,
;
H68, 293,
;
;
Eallroad Company is a
forever. The Pennsylvania
jMurty to the contract and guarantees its faithful execution.
CBeutal Is 8 per cent on $4,943,100 stock and Interest on debt.
(In addition to above bonds there Is $100,000 6 per cent permanent
•oapttalixed debt; interest January and July. Lessee's report for this
In 1886, $468,680
in 1887, $298,405
irond shows net loss to lessee
ito 1888, $421,355; In 1889, $385,873; in 1890, $384,451; In 1891,
.$373,304. The Little Miami Co. does not admit these losses.
In January, 1890, stockholders voted to authorize the issue of $3,000,000 7 per cent bonds (to be issued to the lessee from time to time in
payment for betterments), and also $3,000,000 Stock, into which the
bonds shall be convertible. Negotiations with lessee are still pending,
,and no convertilile lionds had been Issued prior to March 15, 1891.
—(V. 49, p. 300, 434, 580, 789; V. 50, p. 71, 174; V. 51, p. 51.
IWemplilB.— Owns from Little Bock, Ark., to MlsslsIilttle Rock
elppi River, opposite Memphis, 135 miles. The Memphis & Little Book
Bead was sold in foreclosure In 1872, again in 1877 and again In 1887.
iSee description of property, balance sheet, etc., In V. 55, p
WBiewable
:
&
;
$4,061,899
2,529,239
Net earnings
Total net. Including other income
Interest
on bonds
Taxes
Eentals
Interest
and discount
Dividends
$4,171,524
2,734,416
$1,532,660
$1,593,257
528,043
131,276
175,582
25,191
(4) 480,000
Gross earnings
Operating expenses
$1,437,108
1,518,246
556,705
130,878
178,603
28,874
(5) 600,000
$253,165
Balance, surplus
— (V. 52, p.
280, 571, 608, 707, 718. 832; V. 53, p. 95. 368,
54, p. 289, 597, 846; V. 55, p. 22, 146, 322, S02, 857.)
$23,186
435, 714; V.
Voalalaaa. Vfestern.—iSee Map of Southern Paciflc.)—Owjia from
Lafayette, La., to Orange, Texas, 112 miles. Operated under lease by
the Southern Pacific Company, being part of the through line between
New Or .cans and Houston. 'The lessee pays all charges and turns over
to this company 7 per cent of the total net profits of the Southern
Pacific Company, under the omnibus lease.
From January 1 to Sept 30, 1892 (9 months), gross earnings were
$750,821, against $716,946 in 1891; net, $349,886, against $260,954.
In 1891, gross, $1,061,676; net, $457,815; surplus over charges,
$308,554; amount of net profit due tins company as per lease, $169,351.
In 1890, gross, $1,160,331; net, $586,094. Stock is $3,360,000 (par
$100), all but $50,000 of which is owned by Southern Pacillc Co.
St. Lonis Consolidated.— rSee Jfop
XontsTllle EvansTlIIe
of EvanstUle dt Terre Haute Railroad.) Operates from Louisville, Ky.,
to East St. Louis, 111., 275 miles, with branches to EvausviUe, Bockport, Cannelton, etc., in Indiana, 93 miles; total, 368 mile.s, of which
353 miles owned and 15 miles trackage. Also owns Venice & Carondelet Bailway, leased to East St. Louis Connecting Railway, 7 miles. Of
the main line the following portions are operated under trackage
rights Louisville to New Albany, 6 miles Walnut Hill to Centralia,
7^ miles. The line from Belleville to Centralia, IlL, was completed In
June, 1890.
Organization.—This company is a consolidation made in 1889 of the
Louisville Evansville & St. Louis and several other companies. It
belongs to the"Mackey" system. See application to New York Stock
Exchange in full in Chronicle, V. 50, p. 876.
Capital Stock.—Common stock issued, $3,440,747; preferred
$1,295,262, 5 per cent, non-cumulative; par, $100.
&
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THE
LOUISVILLfi & NASHVILLE
»IAP OF
RAILROAD SYSTEM.
c
.
IirVESTORS' SUPPLEMENT.
T8
[Vou LV.
confer a great favor by glvlns Immediate notice of any error discovered In tbese Tables.
Bond»— Prinot
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal, WhenIj&it
Par
of
Slocks—
For explanation of column headings, <&c., see notes of
Road. Bonds Value. Outstanding
Cent.
Whom.
Payable
Dividend.
on first page of tables.
Snbacrlbers
nrlll
RAILROADS.
Mt.
F.it
St.
L.—(Conr.)—2cl M., gold, unassented..c*
&
Hunt. Tell. City
C. RR. let mort. gold, guar.c*
c*
Illinois
St. Louis 1st mortgage
o*
Carondelet mortgage, guaranteed
Venice
St. L. oonsol. mort., gold ($8,000,000)..
L. E.
X/0ut9ieiUe tA Nashville Stock
Lebanon Br., Juno, to Jelllco, LouisTiUe loan. . .c*
Consol. Ist M. (prior liens are only $333,000).. o*
&
&
182
24
20
&
—
Memphis & Oliio Ist
M., Paris to Mem., g.,guar.
.c
Mem.Clarlis.&L.lstM.,£,GuthrietoPari8,Tenn.c'
CecilianBr.lstM.,Cecil.toLoul8.,s.f.,dr'natl00.c-
E. H. &N. lstM.,Henderson to Nash.,g,dT'n at llO.c*
c*
'X.oui8. & Nash, general M., gold, drawn at 110.
10-40 Adjustment Mort., gold (red. aft. 1894).c*
L. C. cfeLex. l8tM.,s.f.(uotdr'n)Louis.toNewp't.o*
.
,
o*
($7,000,000) gold
Henderson Br. Co. 1st M., gold, drawn at 105. .o*
(for $12,000,000)
louitville New Alb. a CTie.— Stock
let M. Lou. Div.—New Albany to Mich. City. o*
. .
500
171
419
130
83
46
135
802
785
175
175
189
45
141
141
208
208
175
118
220
288
Bonds.— Under the consolidated mortgage (New Y'ork Security & Trust
Co. and Josephus Collett, trustees), $3,700,000 bonds are reserved to
retire at maturity the several issues of iirior first mortgage bonds, and
41500,000 to retire at 75 the $670,000 uuasseuted second mortgage
bonds. (See abstract of consolidated mortgage in V. 49, p. 208.) Tlie
aeaend mortgage bonds bear 5 per cent interest in 1892 and 6 thereaHec, and carry voting power, ten votes for each bond.
<On July 1, 1891, there were outstaudiug $109,763 equipment notes
aand $184,792 biUs payable, and there was due the Evansville & Terre
Haute KR. Co. $272,767.
Eahnings.—From July 1 to Oct. 31, 1892 (4 months) gross earnings
were $611,391, against $586,256 in 1891 net, $251,511. For the halfyear ending June 30, 1892, gross (est.), $615,094, against $697,321 In
;
1891.
July
1, 1891, to Nov. 30, 1891, surp. over fixed charges was $64,000.
lUscal year ends June 30. 1890-91 report was in V. 53, p. 878.
1889-90
1890-91.
1888-89.
MUesoperated
Gross earnings
373
373
375
.$1,127,039
$1,484,574
3!tetearniugs
Other receipts
$330,591
29,586
$1,169,412
$416,318
34,635
Total net income
Interest on bonds
$360,177
$251,365
14,155
$450,953
$329,618
17,724
$484,920
$432,800
44,808
$265,520
$347,342
$477,608
$7,312
Bentals and miscellaneous
$103,611
$94,657
IBalanoe, surplus
—(V. 50, p. 107, 834, 874, 876; V. 51, p. 679: V. 53, p. 474,
I^oulsvllle
—
&
NasUvllIe.— (/Sc*
Jlfa»).)— Line
& O. N.Y., Security & Tr. Co. Oct. 1, 1936
& O.
do
do
Oct. 1, 1927
do
& D.
do
June 1, 1895
1900-1902
Various
do
do
do
July 1, 1939
J. & J.
do
P. & A. N. Y., 120 Broadway,
Aug. 1, 1892
A. & O.
do
do
Oct. 15,1893
A. & O.
do
do
Apr. 1, 1898
J. & D. London and New York. June 1, 1901
P. & A. London and New York. Aug. 1, 1902
M. & S, N. Y., 120 Broadway. Mch. 1, 1907
do
do
Deo. 1, 1919
J. & D.
do
do
J. & D.
June 1, 1930
M. & N.
do
do
Nov. 1, 1924
do
do
J. & J.
Jan. 1, 1897
A. & O.
do
do
Oct. 1, 1907
A. & O.
do
do
Apr. 1, 1910
M. & S.
do
do
Mch. 1, 1920
do
do
J. &
Jan. 1, 1930
do
do
Jan. 1, 1930
J. & J.
M. & a.
do
do
Mch. 1, 1921
M. A S.
do
Mch. 1, 1980
do
do
M. & N.
do
Nov. 1, 1931
M. & N.
do
do
May 1, 1937
M. & N.
do
Nov. 1, 1931
do
J. & J.
do
do
July 1, 1940
F. & A
do
do
Aug. 1, 1911
do
do
June, 1895
J. & D
do
Jan. 1, 1906
J. & J.
do
July 1, 1987
J. & J.
do
do
M. & 8.
do
do
Sept. 1, 1931
July 1, 1910
J. & J.'N.Y., Chase Nat. Bank
A.
A.
g.
t'-
J.
6
3,795,000
5 g.
52,800,000 See text.
333,000
1863
1,000
6
1868
1,000
7,070,000
7
1871
«200
3,500,000
*200
1872
2,015,660
760,000
1877 $1,000
1879
1,000
2,200,000
1880
1,000
11,380,000
1,000
1884
4,531,000
1867
1,000
2,850,000
1877 100 &c.
892,000
7
1880
1,000
1,960,000
6g.
1,000
1880
580,000
6 g.
1880
1,000
5,000,000
1880
1,000
1,000,000
1,000
1881
3,500,000
6g.
1,000
1881
3,000,000
3 g.
1881
1,000
50,000
t^1,764,000
1887
1,000
1888
1,000
5,129,000
1890 l,000&o 11,280,000
1881
1,000
i'1,970,000
219,000
1855
1,000
5
1876
1,000
400,000
7
1887
1,000
6,523,000
1881
1,000
1,810,000
6g.
100
12,000,000
1880
1,000
3,000,000
"e
1889
1,000
1,000
5 to 6
100
,
New mortgage
$670,000
300,000
200,000
300,000
$1,000
1,000
1880-2
386
c*
2d mortgage, sluljiug fund, not drawn
& Nash.bds., S.&N. Ala.RR.,2dm. as col.gold.o*
Pensacola Division 1st m., gold (dr'n at 105) .c*
If. O. & Mob. Div. Ist M., N.O.to Mobile, gold.c*
0*
2dM.,N. O. to Mobile, gold
fioutheast & St. L. Div. Ist Mort. gold
c*
2d M., gold. East St. L. to Evansville & br. .c*
<3eneral mortgage L. C. & L., gold
c"
c'
IstM. (50-year Ss), $15,000 p.m., gold
1st mortgage, coUat. trust ($7,000,000), gold.c*
c*&r 1,079
Unified mortgage for $75,000,000, gold
Pensacola <t Atlan. 1st mortgage, assumed
160
80
Kentucky Central— Coving. &Lexing. mort ext.
49
MaysviUe & Lexington RR. mortgage
JU
1886
1887
1875
$484,920
87 S,
of Road.— Main
968.
line
New
Orleans, La., 921 miles; St. Louis to Junction
Cincinnati, O., to
near Nashville, 308 Memphis to Memphis Junction, 259 (to Cincinnati,
^A87) branches (incl. Ken. Cent. RR.) 1,089 ; total mileage June 30,
5-692, 2,577 miles.
'Xlie above mileage (2,577 miles) is owned absolutely orthrough stock.
F» addition leases the Nashville & Decatur RR. (Nashville to Decatur,
119 allies witli other lines, 24 miles) 142 miles, and runs its trains over
ttht Binnlngliam Mineral RR., 22 miles. Also operates the South &
aforth Alabama RR. (Decaturto Montgomery, 183 miles, and branch, 6
raoUes), for account of that Co., making total L. & N. system 2,931 mUes.
_Also operates under lease for account of various companies 87 miles.
tOootoadfi, by ownership of a majority of stock, the Nashville Chattamooga & St. L. RR., 810 miles the lyashviUe Florence & Sheffield RR.,
a. 05 miles; and Henderson Bridge and connecting track, 10 miles—
sSotal, 924 miles also, as joint lessees with the Central ol! Georgia, is
iinterest'ed In the Georgia RR. and its auxiliaries, 721 mUes. Owns the
iGecilian Branch (leased to Chesapeake Ohio & Southwestern), 46 miles,
Ohio Valley RR., 21
; and the ClarksviUe & Pi'iuccton branch, leased to
uuUes. Grand total of roads owned leased and controlled by ownership
•of -Btook June 30, 1892, was 4,731 miles.
The Louisville & Nashville was char•ORSANiBiTiON, Leases,
tSened March 2, 1850, and opened between LouisvUle and Nashville
N-ovembar, 1859. The system has been increased to Its present size by
Leasrjg -aaH absorbing other raads, and by building extensions. The
aiatoilities for interest on the auxiliary roads are treated mostly as beilonging directly to the Louisville & Nashville Co. A list of the seouiTlties owned and in the sinking fund was in V. 55, p. 596.
.A line connecting with the Clinch Valley Division of Norfolk & West-ern was completed in June,1891. The Alabama Mineral RR., 129 mUes,
was taken into the system January 1, 1891. See V. 51, p. 460. In
Dooemiber, 1890, the stock of the Kentucky Central was acquired, control being assumed February 1, 1891. See V. 51, p. 876 and V. 52, p.
;
;
;
;
Ac-
J939.
Capital Stock.— In 1889-90 the stock was Increased $13,000,000
purpose of retiring the 6 per cent collateral trust bonds of 1882.
TThis reduced the annual interest charge by $600,000, and the sinking
<atund charge by $100,000, in aU $700,000.
Jn July, 1891, It was voted to increase the stock from $48,000,000 to
^5,(X)0,000, tlie purpose of the Increase being the purchase of the
BSentucky Central RR., the subscription to the new issue of Nash. Chat.
Jt St. Louis stock, &c. Of the new stock $4,800,000 was taken by
«t«okholders of July 21 at 70, leaving July 1, 1892, $2,200,000 yet to
Iter the
Cue issued.
The general mortgage Ijonds of 1880 are sulyect to a drawing sinking
fund of 1 1-10 per cent of all bonds issued, plus the interest that would
have accrued on all the bonds so drawn— about $190,178 in aU In
1890-91.
In June, 1890, the " unified " mortgage (trustee. Central Trust Company) for $75,000,000 was authorized, $41,917,660 bonds being reserved to retire all prior liens (none of the prior liens can be extended),
the balance for Improvements, extensions (at the rate of .$32,000 per
mile, including eqmpment) and for other purposes. The mortgage covers (besides 1,080 miles of road and its equipment) $16,209,70() stock
of companies controlled, which is subject ouly to the 10-40 adjustment
mortgage, and $6,498,400 stock and $1,100,000 bonds free from any
On Sept. 1, 1892,
lien.
See abstract of mortgage in V. 51. p. 613.
company reported ,$11,280,000 unified bonds outstanding; on Stoclj
Exchange Nov. 16, 1892, only $8,733,000 were listed.
The Henderson Bridge Co. bonds are not a liability of the Louisville
& Nashville. The bridKC is owned by a separate company, with a stock
of $1,000,000 (par, $100), of which the Louisville & Nashville Co. holds
$501,000 the Bridge Co. is guaranteed gi-oss receipts of $200,000 per
year by the several roads using it, and dividends of 2^2 per cent are paid
each B'ebruary and August.
Besides the bonds in the table the Louisville & Nashville is responsible for $2,100,000 bonds and dividends on $2,265,£ 82 stock of NashviUe
& Decatur (which see) for $9,864,350 bonds South & North Alabama
(see that company) for $280,000 bonds of LoulsviUo Transfer Co., and
for $2,096,000 Nashville Florence & Sheflleid bonds- see that company.
As to Kentucky Central mortgage (Metropolitan Trust Co. of New
York, trustee), see abstract V. 4o, p. 372.
Tlie Pensacola & Atlantic was purchased at foreclosure sale in 1891,
and its outstanding first mortgage bonds for $2,000,000 were assmuod, L. & N. owning $1,000,000 firsts additional to this $2,000,000.
General Finances, &c.—The Louisville & Nashville system has
been developed in its present extensive form since 1879 the 100 per
cent stock dividend was declared in 1880 and a few dividends afterwards in cash, but from 1882 to 1888 nothing was paid. From February, 1888, to 1890 stock dividends were paid to represent surplus earnings. The August, 1890, dividend was paid partly in cash, and all since
that date in cash. The August, 1892, dividend, however, was reduced
to 2 per cent. See V. 55, p. 39, 55.
In year 1891-92 company increased its bonded debt $8,675,000 net,
of which $7,142,000 was through purchafe of Kentucky Central,
248 miles, $847,000 unified 4s for new Chattanooga stock, $255,000
for sinking funds and $847,000 for improvements. Bonds canceled
wore $271,000. Bills payable wore $174,996 on July 1, 1892, against
$3,294,574 on July 1, 1891.
In September, 1892, company reported $11,280,000 unified 48 outstanding, against $10,571,000 July 1, 1892.
Latest Earnings.- From July 1, 1892, to Sept. 80, 1892 (3 months),
gross, $5,659,271, against $5,485,951 in 1891; net, .$2,013,952, against
Interest charges for year 1892-93 are estimated at
$2,032,238.
$4,836,438.
Annual Report.- Fiscal year ends June 30. Annual meeting is held
in Louisville the first Wednesday in October. Report for 1891-92 was
given in full in V. 55, p. 588, 591. See also editorial p. 570.
1889-90.
1890-91.
189192.
1888-89.
2,2t.0
2,861
2,161
2,198
Average mileage....
^
$16,599,396 $18,846,004 $19,'/S0,7-.rf $21,235,721
Gross earnings
Op. exp. (excl. tax). 10,326,085 11,419,092 12,058,444 13,792.122
,
;
;
;
Net earnlnga
$7,162,284 $7,443,599
64-95
62-74
$7,880160, $7,976,892
513,185
410,810
4,860,878
4,207,629
124,695
90,339
23,376
ir.
205,494
128,001
186,203
199,425
tl,594,800 {2,405,367 112,400,000 *2,376,000
$6,273,311 $7,426,912
60-59
62-21
P. ct.ofexp. toear'l'gs
Net, incl. invs'ts
$6,950,420 $8,065,598
401,112
397,721
Taxes paid
4,605,493 4,524,694
Interest and rent
Georgia RR. deficit..
Loss on other roads..
Dividends
Total disbursements.. $6,824,206 $7,604,324 $7,223,932 $8,002,759
8r.$126,214 sr.$461,275 8r.$656,226 def.$25,867
Balance
t
Stock dividends 5 per cent.
t
4-90 per cent stock and 1-10 cash.
213 in January, 1891,
profit on the Georgia
2H January, 1892, and 2 per cent July, 1892.
In 1890-91 there was a
and 2H July, 1891.
*
If
||
Railroad of $62,530.
(V. 52, p. 81, 279, 427, 497, 498, 863, 899; V. S3, p. 21, 58, 126, 256,
370, 498, 511, 521, 520; V. 54, p. 78, 525, 643, 683, V. 55, p. 30, 55,
570, 588, 590, 591, 679, 723.
DinDESDS since 1880.— In 1880, 8, and 100 per cent In stock; in
a881,.6; in 1882, 3; tu 1888 and 1889, 5 in stock; in 1890, 6, of which
<4»»nin8tock; In 1891, 5 in cash; 1892, February, 2>2 cash Augu.st, 2.
PsiCB OF Stock.— In 1884, 22i2®5138; In 1885, 22®51%; in 1886,
:33!>8®69; in 1887, 54i8®70>4; in 1888, 50S8®64i4; in 1889, 56I4
LoulsTllle TSew Albany ic Chicago.— fSee Map)— Owns from
®87>4; in 1890, 65i2-a)92i2; in 1891, 65''8®83''8; in 1892, to Nov. 18, New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
^inclusive, 64^4®84i2.
mile -Indiana State line to Massachusetts Avenue, Indianapolis, 162
Bonds.- The 10-40 adjustment mortgage of 1884 (trustee. Central miles; proprietary lines— Bedford & Bloomfield RR., Bedford, Ind., to
Trust Co.) besides 783 miles of road covers $28,162,700 of stocks and Swltz City, 43 miles; Orleans West Badeu & li'renoh Lick Springs Ry.,
Orleans, Ind., to French Lick Springs, 18 miles; total owned, 510 miles.
bonds. See V. 39, p. 409, and V. 51, p. 463.
The Evansville Henderson & Nashville bonds are drawn at 110 by lot Operates under contract— Chicago to State line, 20 miles; New Albany
annually. In September $30,000 a year till 1895, then Increasing eaoli to Louisville, 5 miles in Indianapolis, to dopot, 2 miles total operated,
537 miles. A lease for 999 years with Chicago & Western Indiana (of
ave years until $150,000 per year is finally reached.
The Pensacola Division bonds are sutiject to a drawing sinking fund whose .stock this company owns $1,000,000) at $127,000 per year
gives entrance to Chicago.
^5,000 tUl 1900, inclusive, then $10,(X)0, and so increasing.
—
;
;
;
;
;
—
-
'
RAILKOAD STOCKS AND BONDS.
^TOVBVBBS, 1808.]
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mVESTORS' SUPPLEMENT.
-
80
[Vol.
LV.
these Table*,
subscribers will confer a great Oivor by giving Immediate notice of any error discovered In
Bonds— PrinolINTEREST OR DIVIDENDS.
RAILROADS.
Miles Date
of
of
For explanation of column headings, &o., see notes Road. 'Bonds
on first page of tables.
Size, or
Par
I
Lmtisnlle
Hew Albany
Ist M., Cliic.
<t
Value.
—
lstM.*5,000,000, gold, guar ................ -C
Lukens rnHei/— Sfk,10p.c.rental, 999 yrs. Nor. Cent.
Lirnehbnrj/ <t Durh<cm—&tocK $2,000,000
c*
IstM. $'20,000 per mile, gold
Macon a A(lantic—lstmoTt.,{i$20,000
p.
m.) gold.c*
BirmingJuim— 1st M.for$2O,0OO p.m.,gold
Macon <t Norlhern^Xst mort. gold, guar. p. & i. .c*
Maine Oentj'al—Stock
Port. & Kennebec cou.M.,Port. to Aug. &brch..o
Me. C. loan for $1,100,000, Danv. Jo. to Bangor.o
<t
.
Extension Ist M., gold, Cimiberl. Juno, to Dan..c
Leeds & Farm. BR. Ist M., Leeds to Farmington.c
Me.C. 1st M., cons., A. B. C. D. ($269,500 5s) .o*
0*
do
do
Do
Collateral trust bonds for Mt. Desert Branch
. .
—
fd.
Aug. 1, 1911
Aot. 1, 1916
100
1890 500 &e.
20
100
1,000
1890
1,000
1890
1,000
1890
1,000
1891
100
100 <&c.
100 &0.
500 &0.
100 &0.
100 &e.
100 &o.
1,000
1,000
506"&o.
100
.
& Nor. Am. refunding loan, gold.
& N. Am. stock, 5 p. c. rental 999 years
Portland & Ogdens. stock (2 p. c. rental, 999 years)
Me. Cent. Eu.
European
let mortgage, gold, interest guar
o
3,000,000
2,800,000
250,000
630,000
1,000
1,000
1,000
1,000
10-208,gold, red.on or aft. Feb. l.'95.c
100
1870 500 &c.
Ohoanization.— The Louisville New Albany & Chicago was opened in
1852 and sold In foreclosure Dec. 27, 1872, and reorganized. In August
1881, consolidated with Chic. & Ind. Air Line. The Bedford <fe Bloomfleld
RB. and the Orleans West Baden & French Lick Springs Ry. have no
debt, and their capital stock of $230,000 is deposited as security for
the Louisville New Albany & Chicago consolidated mortgage, as Is also
the $1,000,000 of Chicago & West Indiana Railroad stock, and certain
stock of the Belt Railway of Chicago..
Capital Stock.— On Nov. 9, 1891, it was voted to authorize an Increase
of the stock by $6,600,000 to a total of $12,000,000, and $3,200,000
of this was sold to provide money for new rolling stock and other
improvements, leaving $2,400,000 stock in the Treasury, and this last
was offered to stockholders of July 30, 1892, at 25, and proceeds used
V. 5o,
for terminal facilities in Chicago, steel rails, steel bridges, etc.
F.
$2,300,000
4,700,000
2,800,000
100
Improvement bonds," A" and"B." gold, not mort.
(Bangor loan)o.
5 European & North American
(
&
&
$1,000
1,000
1,000
,
Sinking
pal.When Due.
StocA*— Last
1
Clnciit/n—( Conlinuecl.)—
& Ind'polls Dlv.,€hic. to Ina.,gold-0*
Consolidated mortgage (for $10,000,000) gold.c*
c*
General mortgage, $25,000 p. m. gold
Louisville New Orleans d TexiuiScc IIXINOIS Cent
<£• rcxa«— Stock
lAmisville SI. Louis
o
1 st mortgage, gold
•-.
gold
iid mortgage,
Louisville JIardinsburg & Western 1st mortgage.
L. St. L. &T., 1st consol. mort., $5,000,000, gold.c*
Louisville Southern Stock
ilacon
Amount
per When Where Payable and by
Outstanding Rate
Whom.
Payable
Cent.
I
S8- A. &
5
g.
M.
F.
^•
m
M.
J.
5g. M.
&
&
&
&
&
A. Chase Nat. Bank, N. Y,
do
do
do
do
O.
N.
Dividend.
May
1,
194C
A. N. Y., Office 42 Wall St. Feb. 1, 1917
do
do
do
S.
.T.
a.
do
do
do
Mch.
Jan.
1,
1,
Sept. 1,
1917
1919
1942
3,500,000
"5g. J.
J. N, Y Chase Nat. Bank. July 1, 1940
4,340,000
600,000 10 p. an. Q.-J. N. Y., Ofliee, 13 Wm. St. Oct. 1, 1892
1,876,500
"5g. J. & J. N. Y., Mercantile Tr.Co. Jan. 1, 1940
2,012,000
M. & N. Nov. ,'90, coup, last paid Nov. 1, 1940
200,000
1940
1,940,000
5 g. M. <fe N.
4^2 g. M. & S. N.Y.,BrownBros.&Balt. Mar. 1, 1990
2,200,000
Oct. 1, 1892
4,481,400 See text. See text Portand, Me., Otltce.
A. & O. Bost., N.Rev. Bk.; Port, Apr. 1, 1895
6
1,166,700
do
do
J. & J.
July 1, 1898
756,800
7
do
do
A. & O.
Oct. 1, 1900
496,500
do
do
Jnly 1, 1896
i«- J. & J.
633,000
do
do
A. & O.
Apr. 1, 1912
4,176,700
do
do
Apr. 1, 1912
1,500,000 4&4I3 A. & O.
5
J. & D. Bost., Ara.L.&Tr.; Port.' June 1, 1923
687,000
600,000
6g. F. & A. Portland Tr. Co., Port.' Feb. 1, 1909
4I3 g. J. & J. Bost., N.Rev. Bk.; Port. JiUy,'16&'n
450,000
6
J. & J. Boston, Merch. Nat. Bk. Jan. 1, 1891
1,000,000
Nil No v., '92.
4g. J. & J. Boston and Portland. Jan. 1, 1932
Oct. 15, 1892
2,488,700 5 per an. A. & O. Bangor, Treas. (MHce.
4,381,883 2 per an. Q.— F. Portland, Me. Cent. Of. Aug. 31, 1892
6 g. J. & J. Bost., N.Rev.Bk.A Port. July 1, 1900
800,000
,
5&7
1891; not, $17,190, against deficit of $32,372. In 1891 gross, $942,477
$41,281, against uet of $11,264 in 1890.
deficit,
|
Ijyuchburg
ic
Durham.—Completed
in
1890 from Lynohburg
Durham, N. C, 114 miles; projected to a connection wifh
Raleigh & Augusta KR.,23 miles froraDurham. Mortgage is for .$3,000,
000, at $16,.560 per mile of completed road ami $3,.500 per mile additional for equipment; trustee. Mercantile Trust Company. Stock authorized, .$2,000,000; outstanding, $1,876,500 (par, $100). Leased for
one year from March 1, 1892, to Norfolk & Western, which has the
option to continue the lease permanently at a minimum rental of
$100,000 per annum, or to purcha.se $1,163,000 of its stock and all its
bonds for $1,433,838. Under the temporary arrangement the lessee
agrees to operate the road and to turn over to this ooiupany 33 per cent
of the gross earnings- from which taxes are to be deducted. See V. 54.
President, W. C. Houston, Philadelpliia. In year 1891 gross
p. 601.
earnings were $166,132. (V. 51, p. 84; V. 54, p. 159.)
Macon Blrmin-jhani.— Projected from Macon, Ga.,to Binning
ham. Ala.. 230 miles, and completed from Macou Junction to La Orange,
97 miles. Built liy tlio Macon Construction Co.,whicli went into recelver't
hands in March, 1891. In September, 1891. Messrs. Gill, Shaw & Ober
of Baltimore consented to act as a committoe and invited the bondholders to deposit tlieir holdings, under a bouiUiolders' agreement, wifh
the Mercantile Trust & Deposit Co. of Baltimore, or the New York Se
ourity & Trust Co. See Georgia Southern & Florida. Foreclosure proceedings were instituted in April, 1892, by the mortgage trustee. Receiver's certittcates for $30,000 have lieen authorized. July 1 to Dec.
31, 1891, gross oarniugs, $42,023; net, $1,620. (V. 54, p 633.)
Va., to
,
a syndicate composed of Calvin 8. Brlce,
Samuel Thomas. John Groenough, and others, advanced $1,960,000 to
&
take up the floating debt, etc., receiving In return $2,800,000 general
mortgage bonds, and $1,400,000 of new stock. The general mortgage
of 1890 is for $25,000 per mile of road and $10,000,000 bonds are
reserved to retire the Ists as they mature. Trustee Central Trust Co.
Earnings.— From July 1 to Sept. 30, 1892 (3 months), gross,
8954,692, against $841 ,400 in 1891 net, $333,927, agaiust $287,083.
ANNUAL KEi'OKT.- Fiscal year changed to end Jime 30. Report for
year ending June 30, 1892, in V. 55, p. 419. Earnings have been as
follows forthe oalendaryears 1889, 1890 and the new flscal year ending
June 30, 1892:
„„„
1891 92.
1890.
1889
IHacou Dublin ic Savaunah.—Owns road completed from
$3,067,108
$2,630,132
$2,495,823
Gross earnings
952.160 Macon to Dublin, 54 miles; projeotod to Savannah, 99 miles additional.
861,533
Net earnings
SIJ'JZ^
45,000 Built by the Illinois & Georgia Impi-ovemetit Com(Miuy of Chicago. .Vo
25,000
Dividends received
bonds have been issued. D. M. Hughes, Vice President, Macon, Ga.
$942,176
$861,533
inacon Sc Nortliern.— Owns from Macou. Qa., to Athans,
Total net income
*9?H90 miles. Successor to tlie Covington & Macon, which defaultedGa.. 105
651,781
Sept. 1
621,303
1^8,243
Interest on bonds, etc
163,001 1890, and was sold in foreclosure May 21, 1891. In 1891 leased for 9J
155,297
138,832
RentaU
BONDS.— in
April, 1891,
;
years, renewalile forever, to the
Richmond & Danville and the Central
$931,244 of Georgia, the lessees Jointly guarauteeiug interest and principal o J
$65,916 the bonds. This guaranty is on each of the bouds. See V. 52, p. 321;
$135,098.
V. 53, p. 223. The lessees having gone into receiver's hands, this roacl
Samuel Tnomaa, President, New York.- (V. 53, p. 520, 569, 673, 713 was also i>laced in the hands of a receiver, but iu September, 1892, the
836; v., 54, p. 203, 405; V. 55, p. 100, 256, 419, 544.)
U. S. Circuit Court placed it under control of Central of Georgia. (V.
55, p. 421). Interest due September 1 was paid. A committee wa»
I^onlsvllle New Orleans dc Texas.— See Illinois Central.
appointed in August to represent the Interests of the bondholders.
l,oul8VlIIe St. I.OUIS Sc Texas.— rSee Jfa;).;- Louisville to Hen- — (V. 55, p. 216.)
derson Ky., 142 miles, of which it owns Henderson to West Point, 121
From January 1 to March 31, 1891 (3 months), gross earnings were
miles (completed April, 1889). and uses by contract with Chesapeake & $36,293, agaiust $38,222 in 1890 net, $5,217, against $7,144.
Ohio Southwestern West Point to Louisville, Ky., 20 miles; owns also
In 1890 gross earnings were $150,739; net over surplus and taxes ,
from Irviugton to Fordsville, Ky.,44 miles, and branch 1 mile total $24,745. (V. 53. p. 223, 713; V. 55, p. 177, 216, 412.)
operated, 166 miles. Extension of 15 miles to a connection with the
lYIalne Central.— Line of road, Portland to Vanceboro, Me., via
Louisville & Nashville, 8 miles from Louisville, is under construction, Augusta, 251 miles; branches, Cumberland Junction to Skowhegan.
iind is to be completed in 1892. Close traffic conti-act with the L. & N. 91 miles; Bath to Lewiston and Farmington, 76 miles; branchesproposed. See V. 55, p. 256, 373.
,., , ,
_^
Belfast, Dexter, Bueksport and Mt. Desert Perry, 132 miles; Portland ji
Bonds.— In August, 1892, was executed a consolidated mortgage Ogdensburg Railroad, Portland, Me., to Luneuberg, 109 miles small
for $5,000,000, of which $2,800,000 will be reserved to retire branches, 6 miles; Upper Coos and Herefor<l railways, Luneuberg, N. H.,
the first mortgage 6s at maturity. It has been arranged to to Lime Ridge, Queljeo, 108 miles; Bath to Rockland (includiugsteam.
take up at once the $250,000 outstanding second mortgage sixes and ferry, 7 miles) 48 miles; total, 821 miles, of which 345 miles are owned.
the LoulsviUe Hardinburg & Western first mortgage sixes; also the 428 miles are ojierated under 999 year leases, and are practically
entire car trust and floating dtbt. The fixed charges when these owned; 33 miles are operated under 30 year leases, and 15 miles are
changes are consummated will be about $240,000. See V. 55, p. 373. ferry lines.
Augnst23,1892, there were outstanding $327,263 car trusts, notes
Organization.- A consolidation in 1862 of the Androscoggin & Kenor certificates. Mortgage trustee, Central Trust Co.
nebec and the Penobscot & Kennebec railroads, into which nave since
LATK6T Earnings.— From July 1, 1892, to Sept. 30, 18E2 (3 months), been merged the Portland & Kennebec, Somerset Kennebec & Leeds
rosswerc $160,429, against $140,505 in 1891; net, $69,606, against and I/eeds & Farmington RR. Co. Of the stock $2,264,375 is owned
62,896.
^
by Boston & Maine.
In year ending Jime 30, 1892, gross earnings were, apprnxtmat ly,
Dividends.— In 1882, 2 per cent in 1883, 5ia from 1884 to August,
$607,329, against $429.41 5 in 1890-91; net. $255,537, against $178,922. 1892, both Inclusive, at the rate of
per cent yearly, payable semiNew York. Finaucial Agentf annually. In Sept., 1892, dividends changed to quarterly, and II3 per
W. V. McCracken & Co.. 42 Wall Street,
(V. 52, p. 498; V. 53, p. 126, 407; V. 55, p. 256, 373, 72.i.)
cent declared payable Oct. 1.
Bonds, Guarastvs.— The Hereford and Upper Coos railways are
tionlsvllle Southern.— Owns from Louisville, Ky., southwesterly
to Burgin on Cincinnati Southern Railroad, 83 mUes, with branches to leased for 999 years and their bonds endorsed with a guaranty of prinLexington and Georgetown, 47 miles; total, 130 miles. Lease to Ix)uis- cipal and interest.
(See V.
The European & North American Bangor loan, due Jan. 1, 1394, will
Tllle New Albany «fc Chicago was terminated in March, 1890.
50, p. 834.) (n July, 1890, leased for 99 years to the East Tennessee be refunded into the Maine Central gold 4 per cents, due Jan. 1, 1932.
principal and interest of the new
Virginia & Georgia, wliicli guarantees
In August, 1888, leased Portland <fe Ogdensburg for 999 years and
50-year 5 per cent bonds. .\11 net earnings after payment of fixed charges guaranteed its bouds; rental was 1 per cent on .$4,381,883 stock for
tlio lessee. See V. 51, p.
Of the P. &0. stock, city of Portland
are to lie equally divideil between the lessor and
ftrst three years; now 2 per cent.
51, 612. Stock, $3,500,000; par, $100. See statement to New York has owned $2,200,500; Boston & Maine, $395,200.
alistract of mortgage
There are also $58,000 5 per cent debenture ooiids, due February,
Stock Exchange, Ciironiclk, V. 49, p. 146; also
and lease, V. 49, p. 342 and 343. The East Tenn. was placed In receiv- 1894; $42,000 Shore Line 6 per cents, due 1923; $25,000 .Vndroscogthis company were
gin RR. Co. OS, duo April 1, 1893; also $150,000 Belfast & Mooseheiul
ers' hands In June, 1892, but the July coupons of
Lake mortgage bonds, due 1920, not guaranteed, interest and sinking
paid as usual. See V. 55. o. 21, and E.ist Tennessee.
In year ending June 90.'1892, gross earnings were $632,732; net, fund tor whicli are paid out of the rental. Jointly with Boston A
$203,137; interest on bonds, $217,000; balance deficit, $13,863. (V. Maine, the Maiue Central guarantees principal and interest of $300,000 bonds of the Portland Union Ry. Station Co.
51, p. 51, 276, 303, 457, 612; V. 52, p. 81; V. 55, p. 462.)
Dividends on Leased Lines.- In addition to dividends on the stocks
Lykous Valley.—Owns fromMiller9l>urg,Pa.,to Wllliarastown, Pa.,
$18,000 semi annually
20 miles; branch, 1 mile; total oper.ated, 21 miles. It is a coal road, In the talde above the comiiany pays rental ofwhich runs till May 10,
to the Belfast cfe Moosehtad Lake under lease,
since July, 1880
Uased and operated by the Northern Central Railroad
Newport stock will
and previously by the Summit Branch Railroad. The lease is for 999 1921. After Nov. 25, 1898, dividends on Dexter & is exchangeable ivt
be 5 per cent. The Upper C003 Extension stock
years from March 1, 1866, and the rental is $02,500 per annum.
fur Upper Coos Ext.'n ion 413 ner cent bond*
From January 1 to Sept. 30 in 1892 (9 inoutlis), gross earnings par at option of holder
from coal aud miniu-' "perations were .$7-. 8,131, agaiust $089,745 in due May 1,1930.
Total charges....
Balance, surplus
$760,135
$101,399
$807,078
;
;
;
,
,
;
;
QEi
«
;«
g
S
t/i
m
X
NOVKMBKE,
z
o
•>
r—
CO
m
^^
^^
&9
1892. J
t?3
o
s
>•
RAILROAD STOCKS AlTD BONDS.
81
—
)
.
:
INYESTOES' SUPPLEMENT.
89
;
:
[Vol,
LV
wtU
confer a ereat favor by glvlns Immediate notice of any error discovered In tbeae Tables.
Bond«— PrlnolINTEREST OR DIVIDEKD8.
MUes Date Size, or
pal, When Due
Amount Rate per When Where
of
Tot explanation of column headings, <bo., see notes of
Par
Payable, and by Slocks— Ijaet
on tlrst page of tables.
Road. Bonds Value. Outstanding Cent.
Payable
Whom.
Dividend.
Sabscrlber*
RAILROADS.
Maine Central — (Conrlud-ed.j —
Consol. M.$20,000 p.iu. (guarant'd and so end.).o
Dexter APiscataquisetook 5 P.O. rental 999 years.
IstM., Dexter to Dovci, etc., guar, by end
Hereford R'y stock (4 p. c. rental for 999 years)
107
17
17
53
53
22
22
33
33
48
48
48
.
1st mortgage, guar. p. A i. (endorsed)
stock, 6 p. c. rental 999 years.
1st mort., guar. p. & 1. (endorsed)
Upper Coos ext. stock, 4'2 p. o. rental 999 years.
Extension M., $21,000 ii.m., guar. p.* l.(end.).
Knox & Lincoln stock, guar., 5 p. c, 999 years...
1st M. Penobscot Shore Lino RR. Co., assumed.
K. & L. 2d mortgage (for ifi400,000) assimied...
Dexter & Newport, stock, re ntal 999 years
Eastern Maine, stock, 4 is ii. ct., rental 999 years
Upper Coos RR.
Jf«itcAe». <«I,aw.—8tock,10p.c.ren'ltilll937,B.&M.
Manhattan Elevated. — Consolidated stock
Metropol. El. 1st mort., $600,000 p. m., gold..o*
2d mortgage (guaranteed b v Manhattan)
o*
N.Y. El. 1st M. (payable at 105 aft. 1895)$&£.cAr
N. Y. El. deb., secured by consol. mort. of 1890.
Manhattan Elevated consolidated mort., gold..o*
Maricopa <t P/i<chu-— Stock
Ist mortgage, gold
c
Marietta <£ North Georgia Stock
1st mortgage, $7,000 p. m., gold
Con.lst.M.,g.,$4,500,000,8.f.$15,000 after 18970*
Marquette Houghlon dt Onton. See DuLUTH Sooth
Mason City d- Fort Dodge lstm.$i5,(X)0 p. mile, g.
Memphis t£ Charleston Stock
Tennessee State loan for $1,736,906
Ist and 2d mortgages, extended
—
—
—
—
2d mortgage, extended
14
18
26
32
18
18
14
32
32
34
34
1888
$1,000
1889
1,000
1890
1,000
1890
1,000
1890
1,000
$1,319,000
110,000
175,000
800,000
800,000
350,000
350.000
200,000
347,000
200,000
1,300,000
200,000
122,000
200,000
1,000,000
30,000,000
10,818,000
4,000,000
8,500,000
1,000,000
12,080,000
100
100
100
100
100
1890
1891
1,000
1,000
100
100
100
100
1878
1879
1876
1886
1890
£&$
loo
1,000
540,000
1,560.000
383,000
3,821,000
1,000
1,000
1,000
1,000
1881
1,000
224 1887
1,000
Bhor E & A TLANTIC
92 1886
1854
1867
c
1,000
1,000
Earnings.— From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings
on 821 miles were $3,653,429, against $3,279,640 in 1891; net,
30.
1889-90.
627
BUles operated
Total gross earnings
Total net income
Rentals paid
Interest on bonds
Dividends
1888-89.
647
741
3,389,007 3,828,162 4,226,465
1,199,044 1,332,039 1,411,563
192,573
233,427
284,655
734,031
798,391
821,165
215,604
215,616
215,616
1890-91.
821
4,324,905
1,421,601
360,093
828,189
215,628
Total disbursements
1,142,208 1,247,434 1,321,436 1,403,910
Balance, surplus
56,836
84,605
90,127
17,691
-(V.51,p. 874; V. 52, p. 939; V. 53, p. 880, 920.)
Manchester
I«a\vrence.— Owns from Manchester, N. H., to
MethHen (State Line), 22^4 miles; leases Methuen Branch, 3% miles;
total operated. 26 miles. Road in operation since 1849.
Leased for 50 years from September 1, 1887, to Boston & Maine at a
rental paying 10 per cent dividends, at wliich rate dividends had been
paid for many years. Suit has been instituted to recover $1,000,000,
aid to be due from Concord Railroad.
ITIanbattan Elevated.— ROAi> Operated.—This company controls
and operates all the elevated railroads in New York City. The main
track in its system aggregates 32 miles, besides which is operated the
Suburban Rapid Transit RR., 3% miles.
History, Etc.— Formed Nov. 24, 1875, to lease and operate the two
elevated railroads in New York City. The original lease of May 20,
1879, guaranteed 10 per cent per annum on the stocks. In June, 1884,
aU liabilities were assumed and new stock was issued by the Manhattan Company, viz.: For Manhattan, 85 per cent in new stock; for New
New York. 120 per cent; for Metropolitan, 110 per cent, making the
whole stock $26,000,000. In May, 1891, $1,000,000 stock was issued
to acquire the stock of the Suburban Rapid Transit Railroad, which
owned a bridge across the Harlem River, and had a road in operation,
to aear 176th Street, N. Y., 213 miles. See V. 52, p. 642.
Bonds and Liabilities.—There are considerable claims pending
against the elevated roads for damage to property on their lines, and
many of these are before the courts. See Chronicle V. 54, p. 203
The consolidated mortgage (trustee. Central Trust Company) is limited
on present mileage to $40,000,000, and will provide for prior bonds
when due, for floating debt, &c. Further amounts may be issued for
extensions if desired at the rate of $300,000 per mile of single and
$600,000 per mile of double track. (See abstract of mortgage in V. 51,
p. 248, and application to New York Stock Exchange in full in V. 52, p
353.) The 4 per cent dividend bond certittcates for $1,905,000, which
were redeemable at option of company, were in October, 1892. called
for payment, consols being issued in their stead. (V. 55, p. 679.
Dividends.— In 1884, 3 per cent in 1885 to 1887, inclusive, 6 In
1888,8; In 1889, 1 in cash and 4'a In scrip; inl890, 413 cash and! Hi
Bcrip: lnl891, 6ca8h; in 1892,Jan., II2; April, II3; July, II2; Oct. lia.
Price of Stock.— In 1884, 64i3®79; in 1885,65®123i2; in 1886. 102
®175; inl887, 92ia»161''a; in 1888, 77%®9838; In 1889, 903119; in
1890, 92®117; In 1891, 953109; in 1892 to Nov. 18, inol., 104®139.
Earnings, Finances, Etc.—Cash dividends were resumed In April,
1890, after four dividends of lis per cent each had been paid In serin
About June 1, 1892, $875,000 consol. 4s were issued.
The report to the New York State Railroad Commissioners for the
quarter ending Sept. 30, 1892, was as follows
July 1 to Sept. 3(5—
1891.
189"
Gross earnings
$2,396,129
$2,4687730
Operatmg expenses
1,286,780
1,294 251
&
;
;
&
i« M. &
7
J. &
M. &
5
4g. A &
"eg- M. &
"eg. J. &
6g. J. &
6g. J. &
J.
J.
*
Year ending June
Nov. 1. 1908
July 15, 1892
July 1, 1929
Nov. 1, l'<92
May
Bost., N.Rev.Bk.; Port.
May
1,
1,
1,
Portland, Me., Offleo.
Nov.
1,
do
Nov.
May
do
Portl'd,Me.,Me.Cent.Of.
Boston, Nat. Revere Bk.
1,
1,
1,
Feb. 1,
Sept. 5,
Aug.
Aug.
do
do
Dexter, Me., Office.
Rockland, Me., Office. Nov.
Manchester and Boston. Nov.
N. Y., 71 Broadway.
Oct.
J. N. Y., Mercantile Tr. Co. July
N.
do
do
Nov.
J.
do
do
Jan.
S.
do
do
Mch.
O.
do
do
Apr.
K. N. Y., Farm. L.
& Tr. Co,
2,
1,
1,
1,
1,
1,
1,
1921
1892
1892
1892
1892
1908
1899
1906
1916
1990
do
3.
July, '92, coups, bought
do
do
Nov.
1,
1916
July
1,
1,
1911
1937
July
do
J.
& J
& J.
1,
1930
1892
1930
1892
1930
1892
1920
Jan.
July, '90, last paid,
J.
1,
1926
Jan. 1, 1916
Jan. 1, 191 '"
and gross earnings have been
Year end.
Passengers. Earnings.
75,585,778 $5,311,076
86,361,029
5,973,633
92,124,943
6,386,506
96,702,620 6,723,832
102,354.729
7,000,566
115,109,591
7,426,216
Report for 1890-91 was
In V. 53, p. 920.
1887-88.
N. Bos., N. Rev. Bk. & Bos.
J.
Dover, Me., OBloe.
Bost. N. Rev. Bk., Port.
Portland, Me. Cent. Of.
B08t<)u, Mass. Nat. Bk.
P(jrtland, Me., OHIcc.
of passengers carried
$1,322,237, against $1,086,248.
ANNUAL Bepokt.— Fiscal year ends Sept
&
&
J.
1,380,000
5,312,725
Intrust.
2,155,000
105,000
"94
M.
4
J. & J.
4 per an. M. & N.
4
M. & N.
6 per an. M. & N.
4
M. & N.
4^2 p. an. M. & N.
4>9
M. & N.
5 per an. F. & A.
4
F. & A.
F. & A.
5
See text. M. & S.
4>3 p. an. M. & N.
10 p. an. M. & N.
6 per an. Q.-J.
600,00(1
1886
5
5 per an. J.
Sept. 30. Passengers.
Earnings.
1886-87... 158,963,232 $8,102,662
1887-88... 171,529,789
8,673,871
1888-89... 179,497,433
9,080,881
1889-90*. .185,833,632
9,302,681
1890-91* .196,714,199
9,959,710
1891-92*. 213,692,570 10,835,978
30.
-(V. 52,
p. 238, 322, 351, 353, 642, 707, 832; V. 53. p. 224, 619, 713,
714, 968; V. 54, p. 203, 243, 846; V. 55, 639, 679, 806, 857.)
inarlcopadc Plioentx.—Owns from Maricopa, Arizona, on theSouthern Pacific Railroad, to Phcenlx, Arizona, 34 miles. Stock is $600,000
(par, $100). In year ending June 30, 1891, gross earnings were $78,106; net, $26,676; interest, $32,400; taxes (less other income), $1,253 ; deficit, $6,977. Presi lent, N. K. Masten. San Francisco.
Marietta
4;
North Oeorsia, — Ovms road completed
in
Au'
1890, from Knoxville, Tenn., to Marietta, Ga., 217 miles
branch, 7 miles; trackage. Western & Atlantic Railroad, Marietta, Ga.,
to Atlanta Ga., 20 miles ; total operated, 244 miles.
History, Receivership, &c.— ':iomnleted In 1890 and consolidated
with Knoxville Southern. Interest defaulted Jan. 1, 1891, and J. B.
Glover appointed permanent receiver on Feb. 23. A foreclosure suit
was instituted in April, 1892. Two reorganization plans liave been presented, under one of wliioh assenting securities are received at Central
Trust (jo.; under the other, at the Atlantic Trust Co. See the plans in
V. 54, p. 887, 924. In November, 1892, a miijority of consols and stock
had been deposited with the Atlantic Trust Company further deposits
will be received till Dec. 17. V. 55, p. 857.
Ohligations. In addition to bonds in table above the company on
June 1, 1892, had the following obligations Receiver's certificates for
roUiug stock, .$246,000; Mar. & Nor. Ga. old 2ds, $6,000; accrued interest on first and second mortgages to July 1, 1892, about $50,000
do. on consolidated mortgage, $554,630; contractors' claims in litigation, $3.50,000; cash outlay needed to complete iuiprovemeuts deemed
essential, $950,000. Receiver's certificates for $1,000,000 were authorized for putting road in good condition. Stock (Including Knoxville Southern), $5,'250,000.
Earnings.— From April 1, 1892, to July 31 (4 months), gross earnings $66,490. tn month of August. 1892, they were $21,049. (V. 52,
p. 121,165,350,463; V. 54, p. 203,887,9-24; V. 55, p. 857.)
gust.
•
;
—
:
& Ontonagon.—See Ddluth S. S. & Ax,
Maryland Central Railway.—See Baltuiose & Lehioh.
Marqaette Honghton
Mason
City A. Fort Dodise.— Owns road from Mason City, la.,
to Lehigh, la., 88 miles, and branch, 4 miles. Stock authorized, $5,000,000; outstaniliug. $920,000; par, $100. Interest due and accrued
1, 1891, $414,000; bills payable, $30,972.
In year ending June
deficit under operating ex30, 1891, gross earnings were $112,231
penses and taxes, $55,844. Total deficit to June 30, 1891, $347,608.
Sc Charleston. (See Map of East Tennessee Virginia <f
(3«ori/»a.;— Owns from Memphis to Stevenson, Ala., 272 miles; branches
—to Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to
Chattanooga, 38 miles; total operated, 330 miles. Of the consolidated
mortgage, .$1,400,000 are secured by the old Tennesse State lieu for
$1,736,906, assigned to a trustee. On May 1, 1892, there were $108,124
car trusts outstanding, maturing 1892 to 1891. The stock is $5,312,725; par, $25.
The East Tennessee Virginia <fe Georgia RR. in September, 1885,
placed a majority of the stock (which it owns) in the Central Trust Co.
for control. The right of the East Tennessee to vote this stock was contested and a decision of the matter yet remains to be made. (See V.
50, p. 703 V. 52, p. 831.) In June. 1892, the East Tennessee was
placed in receiver's hands, and there being no funds to pay July
coupons of the Memphis & Charleston, these coupons were botight (see
V. 55, p. 21.) On July 14, 1892, Henry Fink was appointed receiver,
and on July 25 C. M. McGhee joint receiver In Interest of the East
Tennessee. V. 55, p. 100, 177.
Earnikgs.- Jan. 1, 1892, to Oct. 31, 1892 (10 months), gross, $1,171,917, against $1,307,059 in 1891.
In the year ending June 30, 1892, gross $1,530,019; net, $305,787.
July
;
Memphis
;
Net earnings
Other Income
Total...
Interest, rentals
$1,109,349
35,000
...
and taxes
1,174,479
35,000
$1,144 349
600,192
il72097t79
681,089
Surplus
$544,157
$528,390
AiraUAL Report.— Fiscal year ends June 30. Annual meeting Is
held the second Wednesday in November. Statement tor 1890-91 was In 1890-91 gross $1,747,461; net, $102,850; surplus above charges,
In V. 53, p. 519.
In 1889-90 gross $1,783,729 net. $514,730; surplus over
$96,163.
1889-90.
1890-91.
1891-92 charges, .$136,331. (V. 51. p. 276, 456, 612; V. 52, p. 831; V. 53, p..
835; V. 55, p. 21, 100, 177.)
Gross earnings
9,388,681
*9,959,710 10,835,978
Memphis Little Kock Sc Indian Territory.—Mortgage trus^
Oper. exp. and taxes
5,307,129
5,455,630
5,923,213 tee is the Holland Trust Co. of New York.
Metropolitan \rc8t Side Ulevated (Chicago).— Organized to
Net earnings
4,081,552
4,504,080
4,912,765 bnlld an elevated raiUvay in Chicago, running from the Board of Trade
Interest and rentals
1,597,880
1,907,494
1,917,052 Building westerly about 4 miles, with branches; the total length to be
1013 miles; first two miles to be four tracks, the rest two tracks. Tho
Balance
2,483,672
2,596,586
2,995,713 right of way is to be bought and owned in fee, and will be mortgaged
Deduct dividends
11,560,000
1,620,000
1,800,000 to secure the bonds. During construction voting power on stock will
be In the hands of G. C. Clark, of Clark. Dod ge & Co., N. Y. George C.
Bnrplus
923,672
976,588
1,195,713 Allen, of Busk&Jevons, N. Y., and U. L. Higginson, of Lee, Higginsou
* Inolu-les other Income.
t In cash and scrip.
6l Co., Boston.
;
;
NOTEHBEB,
1892,J
RAILROAD STOCKS AND BONDS.
8S
—
.
—
r
UNVESTORS' SUPPLEMENT.
84
Subscribers will confer a great favor
BAILROADS.
b]r ij^Tlng
Miles
For explanation of column headings,
on first page of tables.
Date
of
of
&o., see notes
292
Istftl.
W2
—
c*&r 1,832
1st consol. Iucoine8,uou-cum.($9,600p.m.),gold.o* 1,832
1,832
—
1,064
1,064
1,064
"83
83
—
&
8.
Bridge bonds
C.
IstM. onDet.
do
270
115
84
39
84
147
Haven.c&r
Crand River valley stock, 5 per cent rental
Detroit & Bay City 1st mortgage endorsed
M.
$1,000
1,000
1,000
1,000
100
2.1con.me.$6,40Op.m.red.at50p.c.tUIAug.l929c*
r
Registered iueome bonds, unassented
Uexican National Stock
c*
1st Mortgage, subsidy, gold, drawn at 100
2dM.,8er.-'A," g.. Inc. aocum. (for $10,675,000)0*
2dM.,8er."B," g., inc. non-ac. (for $1 6.675,000).
3d mortgage, deb. (income not cumulative) gold.r
Mexican Northern—&toc^
c
1st mortgage, U.S. gold coin, s. 1. not called
Michigan Central Stock
Consol. mort.— now Ist M. (82,000,000 are 5s).cAr
c<tr
M. C. Michigan Air Line, Ist mortgage
M. C. Ist mortgage on Grand River Val. KR. .c&r
mortgage on Kalamazoo
1876
1884
1890
(1)
($15,000,000) gold
Ueiican Central— Utook, $25,600 per mile
1st mortgage (uuasseuted)
Consol. mortgage, $32,000 per mile, gold
C. 1st
Immediate notice of any error discovered In these Tables.
|Bo)irf«— Prinol INTEREST OR DIVIDENDS.
pal, When Due.
Par
Whore Payable, and by Stocks— LaM
0.ftKdL«K%t«P«'--^'l'«'!
189'2
on 93 m. InTenn.jo*
cJkr
Qeuoral mortgage, gold
Little Rock a Iiid. rcr.— Ist M. for $1,200,000.
Metropolitan West .Side Elevated (of Chicago)— SUmA
Consol., gold ($1,400,000 1st
Mem.
c&r
&Bay
CityRB., coupon..,
do
registered..
1881
1889
1889
1889
1881
1,000
1,000
1,000
1,000
1,000
100
1887
1,000
1887 500 &c.
1887 500 Ac.
1887
1,000
100
1890
1,000
100
1872
1,000
1890 l,000&o
79- 86
1,000
1889 l,000&c
50
1872
1,000
1873
1,000
1881 1,000&C
1881 l.OOO&c
i47
147
295 71&80
18 1889
41 1889
Jack. Lans. & Sag. con. M.,ext.in 1891, assu'dcAr
Bay City & Battle Creek 1st mort., gold, guar
Battle Creek & Sturgis Ist mort., gold, guar. .
[Vou LV.
Size, or
Roa4. Bonds Value.
Memphis d Charleston— ( Concluded.)—
M.
;.
1,000
Cent.
$2,264,0 00
1,000,0 00
7g.
6k.
5
J.
J.
M.
(»)
"5g.
10,000,000
47,841,100
934.000
56,733,000
4g.
16,932,000
!«•
11,724,000
639,400
3
33,350,000
11,876,000
§«•
12,265,000
6g.
12,265,000
7,040,000
3,000,000 6 per an.
1,660,000
6 g.
18,738,204 See text.
10,000,000
1,660,000
4
1,500,000
6
700,000
5
491,200 5 per an.
274,000
8
150,000
8
I 3,576,000
I
{
2,274,000
5
250,000
!«•
421,000
3g.
Whom.
Payable
F.
J.
J.
Dividend.
& J. July, '92, coup's bought Jan.
& J.
do
do
Jan.
& N. N. Y., HoUand Tr. Co. May
AA.
New York, etc.
Aug.
& J. Boston,8afeDep.&Tr.Co July
& J.
do
do
July
July 10 Boston,
& D.
& S.
1.
May 1
Q.-F.
J. & D.
F. & A.
7&5 M. & N.
J. & J.
M. & S.
M. & N.
J. & J.
M. & N.
M. & N.
M. & S.
Q.-M.
M. & 8.
J. & D.
J. & D.
M.
April
1916
1924
1940
1,
1942
1911
1911
Jan. 10, 1939
Jan. 10, 1939
July 1, 1911
when earned.
July 1
J.
1,
1,
1,
1,
1,
June
N. Y., Nat. City Bank.
1,
1927
July 1, 1917
July 1, 1917
July 1. 1937
Y., office, 42 Pine St. Nov. 15, 1892
do
do
Dec. 1, 1910
Y. Gr-d Cent. Depot. Aug. 1, 1892
Y., Union Trust Co. May 1, 1902
do
Jan. 1, 1940
do
do
do
Sept. 1, 1909
do
do
Nov. 1, 1939
do
July 10, 1892
do
do
May 1, 1902
do
do
do
May 1, 1903
do
Mch. 1, 1931
do
do
Mob. 1, 1931
do
do
do
Sept. 1, 1901
do
do
Dec. 1, 1989
do
do
Dec. 1, 1989
STOCK.— Stock, $33,350,000 (par $100), placed in trust with the
moxlcan Central (mexlco). (See Map;—Mileage— Main line
Mexico City north to El Pa-so del Norte, 1,224 mUes, 131 miles on San Farmers' I.K)an & Trust Company, leaving the road in control of Ist and
Luis Division, 276 miles on Tampioo Division, 11 miles on Guanajuato 2d mortgage bondholders untU it earns and pays interest on both classes
Branch, 161 miles on Guadalaiara Division, and 16 miles on the San of bonds for two consecutive years, in which event tlie control reverts
Bias Division, 44 miles on Pachuca Divlsiou, and branches 13 miles, to the stockholders. The Mexican National Con struotion Company owns
over $17,000,000 of the capital stock and $7,000,000 of the incomes.
made a total of 1,876 miles Oct. 1,1892.
Okgaxization.— Incorporated February 25, 1880, under the general
Bonds.— The first mort. for $12,500,000 is a prior lien upon all the
taw of Massachusetts, and by transfer the company holds a charter from lines in Mexico, constructed or to be constructed, and upon the Texas
Mexican securities. The lionds are redeemal)le on notice at par. Trusthe Mexican Goverumeut, granted December 5, 1874.
SunsiDY.— In July, 1890, a contract was made by which all subsidy tees Hugh M. Matheson and Cliarles Magniae. On Jan. 1, 1892, $790,payiuents on lines then constructed were discharged by the payment of 699 raised by sale of first mortgage bonds remained unexpended; $740,#14,300,634 iu Mexican silver. Tlie total subsidy collections from the 975 of this l>eiiig in capital reserve fund, $141 in betterments fundbeginning, includiug this settlement, amounted to about $17,000,000 and $49,583 held for debts of old company. In 1891 first mortgage
In American money. See V. 54, p. 765. By the construction of the bonds for $319,000 were called and paid on June 1, and in 1892 $305,Paeliuca Division the company earns an additional subsidy of $8,000 000 were called.
per mile on 44 miles, payable in Mexican 5 per cents. It is said the
The 2d mortgage bonds, series "A," are strictly cumulative, and not
comj>any is entitled, under tlie Tampico Harbor concession, to $1,140,- foreclosablo while stock remains in trust as above stated the 2d mortOOO 6 per cent harbor bonds when the canal reaches a permanent cen- gage bonds, series " B," are non-cumulative trustees, Lyman K. Bass
tral depth of 10 English feet, and when 22 feet is reached to $3,000,000 and J. A. Horsey. Third mortgage trustees, C. J. tUanda and H. A. Risley
bonds m all.
Latest Earnings.— From Jan. 1 to Sept. 30, 1892 (9 months), gross
The $7,000,000 priority bonds were paid off with proceeds of subsidy $3,271,115, against $3,110,582 in 1891; net, $1,132,688, against $855,toUectious, interest ceasing April 10, 1891. See V. 52, p. 390. After 374; after deducting otlier expenditures for repairs, replacements and
the payment of the priority bonds there was left of the subsidy general exi)enses, net earnings were .$817,756, against $450,448.
^,837,570 to be put in trust and used whenever necessary for the payAnnual Bei-ort- Fiscal year ends Dec. 31. Report for 1891, with
ment of principal and interest of the consolidated mortgage l)ond8. On the balance sheet, etc., was given in V. 54, p. 596, 603. Gross earnings
Jan. 1, 1892, there remained of the money so deposited $4,600,815, below are in Mexicati currency, all other figures In U.S. currency.
having been withdrawn in 1891, as provided for iu trust inINCOME ACCOUNT— (n. S. CURRENCY EXCEPT GROSS EARNINGS).
enture—
t300,000 see income account below and V. 54, p. 765.
1888.
1889.
1890.
1891.
Bonds.— In 1889 new bonds were issued to retire old securities (see V.
Miles operated
1,218
1.218
1,218
48, p. 191; also p. 292, 327). The consolidated mort. 48 (trustee, Boston
$2,404,891 $3,660,124 $3,754,966 $1,206,422
Safe Deposit & Trust Company) cover the entire property, all old flrsta Gross earnings
Net earnings
$51,049
$533,354
$661,604
$892,788
deposited, and the subsidy earned and to be earned. (See abstract of
71,023
9,109
14,671
mortgage in Chronicle, V. 49, p. 177.) Both series of incomes are Interest and discount.
194,425
305,314
112,500
non-cuniulative and secured by one indenture to the American Loan & Suljsidy receipts
Trust Company. First consoUdated Incomes received 3 per cent interTotal net Income.. $122,072
$736,888
$981,589 $1,005,288
«st July 10, 1890, and 3 per cent in July, 1891 and 1892 respectively.
$693,000
$809,500
$738,835
Latest Eausings, &c.— From Jan. 1 to Sept. 30, 1892 (9 months), Int. on Ist M. bonds.. $630,000
60,880
60,880
gross in Mejcican currency were $5,721,297, against $5,253,002 in Int. on Tex. M. l)ond8.
;
;
Misc., bet'm'ts, etc. ..
6,824
32,119
135,654
412,137
1891; net, $2,002,625, against $1,802,368.
ANNUAL Repokt— Fiscal year ends Deo. 31. Report for 1891 in V.
Total
$697,704
$785,999
$945,154 $1,150,972
p. 745, 760, 763, gave a full account of the affairs of the company
54,
and its prospects, with earnings, balance sheet, &o. The gross earnings Balance
df.$575,632 df. $49,111 sr. $36,435 df1t$145,684
t)elow are Mexican currency^ all other llgures V. S, currency.
V The payment from subsidy wipes out this deficit.
INCOME ACCOCNT— (D. 8. CURRENCY EXCEPT QBOSS EARNINGS).
—(V. 52, p. 498, 532 V. 54, p. S96, 603, 762, 844 V. 55, p. 256.)
1888.
1889.
1890.
1891.
mexlcan Northern.—Owns from Esoalon, Mexico, on the Mexican
Av. miles operated
1,316
1,462
1,527
1,665
Railway, to Sierra Mojada, 83 mUes, all steel, completed in July
Oross earnings, Mex. cur. $5,774,331 $6,337,225 $6,425,694 $7,374,539 CentralThe Mortgage, of which the State Trust Co. of New York Is
1891.
Netearns.,&c..U. S. our.. 1,748,459 2,096,056 1,978,157 2,068,013 trustee, is for $1,660,(X)0, of which
$58,000 have been purchased for
Subsidy account
474,922
812,912
601,127
300,000 the sinking fund. Tills fund receives yearly 5 per cent of the gross earnMUceUaneous
1,273
22,542
17,953
ings and the income from the investments of the same. None of the
bonds are subject to call licfore maturity. Dividends from February,
Total net income
$2,224,654 $2,931,510 $2,597,237 $2,368,013 1892, to November, 1892, l>oth inclusive, l^a per ceut quarterly (6 per
Interest on coupon notes.
$316,313
$91,981
annum.) In February, 1892, an extra dividend of ^a per cent was paid.
Interest on 1st mortgage. 1,357,717 1,767,595 2,406,114 2,321,180
iniclilsan Central. (See Map New York Central rf Hudson
Interest on debentures.
250,000
180,067
28,467
Miscellaneous
77,575
105,881
261
39,374 River.)— CiSE of Road.— Main line— Kensington to Detroit, 270 miles,
and Windsor to Suspension Bridge (Canada Southern), 226 miles
Total
$2,001,605 $2,145,524 $2,434,842 $2,360,554 total main line, 496 miles. Branches owned and leased— Michigan
Balance
8r.$223,049 8r.$785,986 sr.$162,395
ir$7,459 Air Line Bailroad, 115; Joliet & Northern Indiana, 45; Grand
River Valley, 34; Jackson Lansing & Saginaw, 295 Karamazoo & South
Balance to credit of income account Dec. 31, 1891, was $503,328.
II
Haven, 39; Detroit & Bay City, 151; Saginaw Bay & Northwestern,
—(V. 53, p. 21, 436; V. 54, p. 159, 745, 760, T63.)
87; Toledo Canada Southern & Detroit, 59; Canada Southern Bridge
niexlcan National Railroad (Mexloo).- Owns from Laredo Company, 4 Micliigan Midland & Canada, 15 Canada Southern
to City of Mexico, 842 miles; Acambaro to Patzuaro, 96 miles; El branches, 101 Sarnia Chatham <fe Erie, 7 Erie & Niagara, 31 Battle
Salto branch, 45 miles Matamoras to San Miguel, 76 miles small Oeek and Sturgis, 34 other, 32 total branches, 1,099 miles; trackage
branches, 5 miles; total owued, 1,064 mUes; controls through owner- Illinois Central, 14 miles; total operated January 1, 1892, 1,595 miles
ship of stock, Texas Mexican Railway, Corpus Christi to Laredo, There are 244 miles of second track and 776 miles of side tracks. In
Texas, and branch, 163 miles; other Unes, 5 miles total owned and September, 1802. a branch to Lewiston, Mich., 28 miles, was opened.
oontroUed, 1,232 miles.
Organizaiio.v, Leases, &c.— The Michigan Central was chartered in
Organization.— The foreclosure of -the Mexican National Railwaw 1846; the whole line, Detroit to Kensington, was opened iu 1852. The
took place on May 23, 1887, and the present company acquired 716 lines described above as leased are all held by the Michigan Central
mUes of road. It also controls the Texas Mexican Railway, owning all nominally under leases at fixed rentals, but are practically owued.
Its first and second mortgage bonds, and $2,453,750 of its capital stock
In November, 1882, a close contract was made witli Canada Southern
out of a total issue of $2,SOO,000.
for working its road by the Michigan Central and for the division of net
SiinsiDV.—The subsidy was $7,000 in Mexican currency per profits over all charges as follows—one-third to Canada Soiithom and
kilometer.
Prior to default the former railway company pledged two-tliirds to Michigan Central but the Michigan Central is entitled to
#2,500,000 subsidy
certifloates to
secure $5,000,000 of Srat an increase on this proportion as it diminishes its interest charge by
mortgage bonds, and at the re-organization this amount became payment of bonds or otherwise, and hence it now obtains more than
applicable to certain of the A and B bonds lor which the $5,000,000 two-thirds of the net income.
old first mortgage bonds were exchanged. In the re-organieatlon also,
Capital stock.- The Michigan Central stock has remained at the
»7,000,000 subsidy certs, were pledged as additional security for the same amount since 1873.
#12,500,000 new first mortgage bouds, $3,000,000 of which subsidy
Dividends since 1882— In V8S3, 5; in 1884, 3; in 1885 and 1836,
was then delivered to the trustees and $4,000,000 remained to be nil; in 1887 and 1888, 4; in 1889,4; In 1890,5; in 1891,5; in 1892,
earmed. Of this the construction of the 563 kilometers (350 mUos) in February, 3'3 August, 2 per cent.
the main line earned $3,941,000 of subsidy, but of this amount $939,Price of stock.- In 1884, 51%®94ifl: in 1885, 46ia®795li; in 1886,
pOO Is applicable for tlie benefit of the five million A and B bonds, leav- 61is»98%; in 1887, 80®95»3; in 1888, 72^92%; in 1889, 84ifla99i4;
ing $3,002,000 applicable to interest upon the first mortgage bonds iu 1890, 83®104% in 1891, 87>a»109''8; in 1892, to Nov. 18, inclusive,
when net earnings are in deficit to meet the same, and afterwards for 103i4'8117.
redemption of said bonds. The total subsidy applicable to the new first
Bonds.—The Jackson Lansing & Saginaw bonds were assumed by
mortgage bonds was $(;,000,000, Mexican money, of which about half Michigan Central, which also pays $70,000 per year on the stock of
lias been paid. About $100,000 a month is now being coUected.
$3,000,000. The total issue oT Battle Creek & Sturgis bunds is $500,.
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NOVEMBEB,
RAILROAD STOCKS AND BOKDS.
1892.]
Subacrlbors will confer a {(roat favor
RAILROADS.
For explanation of column headings,
on first page of tables.
&o., see notes
bjr
Klvlns iininodlato notice of anf error discovered In
Date
Miles
of
of
Slie, or
Piir
Road. Bonds Value.
MiddUsborough Bell-Ut niort. for $1 ,000,000. . .0
Middlesex Va?.— lBtM.$6OO,O()(),»<.,(*20,0OOp.m.)o*
0*
UUtMetovm Un.d IP. Oa»— IstM., cxt. lu'86
2<1 niort. jfiiar. interest, reduced to 5 per cent...o*
itihoaukee Lake :^hore it ITes/ern—Common stock..
Preferred stocn. 7 percent
CoiiHol. niort. (now 1st mort.) .$12,000 p. m. gold
MlchlKaii Div. Ist mort. (for $3,000,000), gold.c*
AsliUiiul Division ist mortKage, Eold
o*
1st MH.IIurIey& Ontoii.l)r'ulK'»,goUl,(dr'uat 100).e
Conv. debentures, secured by mort of 1889, g. .0"
Ext. & Imp. M. for $.3,000,000, gold,s.f. uotdr*n.c*
r
Income bonds (not cumulative)
Equip, bonds 188.5 ($100,000 drawn yearly)
St. Paul Kast. Gr'd Truuk lst,M. gold.lnt. guar.o*
ilitwaukee di Lake Wiimebaj/o—lat mort., gold...o*
Income mort. ((Simulative), gold, interest paid. o*
Debentures, convert., gold, see romarljs
c*
ililw. <« Northern— Isl mort., Schwarz.to Or. Bay.o*
Cons. M. ($17,000 p.m.),l8t M. north of Gr.Bay.o*
Mine Hill it Sehin/lkul ifat«»i—Stock 7>a P. c. rental
Mineral /i'hh^c— New consol. M., gold, red. at 105. .c
1800
16
.
32
13
$1,000
1866 100 Ac.
1871 500 Ac.
....
100
100
1881
1,000
1884
1,000
1885
1,000
1886
1,000
1887
1,000
1889
1,000
1881
1,000
1885
1,000
1883
1,000
1882
1,000
1882
1,000
1884
1,000
1880
1,000
1884
1,000
50
1891
500
....
i
—
85
40
16
531
531
....
56
65
65
126
362
53
17
Minneapolis <£ SI. Louis—
Common stock
Preferred stock
100
100
0*
let M.,Minu.toMerrlamJo
Istmort.,Merriam Junction to State Llno,gold.c'
*
IstM. Minn.cSd)ul.,Mlnn.to White B.Lake
8ft
1877
1877
1877
27
93
15
1,000
500&C.
1,000
tlieoe
Tables,
I»TEBE8T OR DIVIDENDS.
Rate per When {Where Payable, and by
Amoant
Outstanding
6
&
N. v., Atlantic Trust Co.
N. Y., Central Trust Co.
N. T., N. Y. 8U8(i. <fc
July
W
Nor.
Dec.
1,
1,
Last paid July, 1891.
Last paid June, 1890.
Last paid May, 1892.
Jan.
1,
1,
1,
J.
1,
1930
1911
do
do
1899
N. Y., N. Bk. of Com'rce. Feb. 16, 1891
do
do
Aug. 15, 1893
do
do
May I, 1921
do
July 1, 1924
do
do
do
Mch. 1, 192S
N. Y., Office 52 Wall St. Apr. 1, 1896
N. Y., Bk. of Commerce. Feb. 1, 1907
do
do
Feb. 1, 192»
do
do
May 1, 1911
N. Y., Office, 52 WaU. Jan. 1, 1895
do
do
Jan. 1, 1913
N.Y.,36Wall8t.<tBo8t July 1, 1912
do
do
July 1, 1912
do
do
Apr. 1, 1904
O.
D. N.Y.,Ch. MU.ASt.Paal June I, 1919
do
D.
do
June 1, 1913
J. Phlla-.Offlce, 119 8. 4th. JiUy 15, 1893
New York, Agency. Jan. 1, 1931
J.
&
&
&
D.
N.
6g.
600,000
5 g.
4,468,000
5g.
500,000
6
300,000
6
1,120,000
6g.
1,430,000
6g.
520,000
5g.
239,000
6g.
2,155,000
6
4,003,000
6
4,210,200 3ee text.
600,000
5g.
'^"e.
Dividend.
&
&
&
&
&
5
J.
7g. J.
7g. M.
280,000
J.
A, N.
dt D.
2,650,000 7 In '91
5,000,000 7 per an.
5,000,000
§«•
1,281,000
f «•
1,000.000
««r.
6,000,000
4,000,000
455,000
950,000
Do*
aiockt—lsat
Whom.
5g.
6g.
1(K>,000
pal. When
Payable
Cent.
$424,000
440,000
150,000
250,000
BofuI»— Prlnaf
J.
June
May
1907
1927
1907
000, but of this $79,000 was sub-guaranteed by the Lake Shore & Michgian Southern, 7 miles of the B. C. & S. beiugoperated by thatoompany.
>PERATioNS, FiNANOKS,
The road is operated under a close oontfiiot with Canada Southern, and tlie earning.s of both roads are Included
iu ihe .statistics below.
Nothing has been cliargfd to either the construction or equipment account since 1883, all betterments liaviiig been charged to operating oxpeuses or income account. Tlie funded debt was reduced as usual In
1891 by the purchase and cancellation forthe sinking fund of $250,000
In bonds secured by the tlrst mortgage Tlie operating expenses in
1891 Include $1,01(>,367 expended for additional second track, new
paying (Feb. and Aug.) 413 per cent, being regular preference of 6 per
cent, and, on account of accrued b.-«ck dividend an additional 3 per
cent— 1. e., 9 per cent per annum in all.
$437,838, against $170,6 10 In 1891; net, $138,379, against $193,107.
In year 1891-92, gross earnings wero $l,765,3iJ7; net, $642,904,
against $619,803 In 1890-91; interest, $369,678; baUiuce, surplus.
$273.2'26.— (V. 51, p. 240. 275, 383, 416.)
mineral Range.- Houghton, Mich., to Calumet, Mich., 15 miles ;
branch, Frankllu Station to Franklin, 2 miles; total, 17 miles (3-foot
guage. This road was under the U. 8. Ives' management, and Oct. 1,
1887, defaulted in payment of Interest. The receiver appointed in Juno,
1888, was discharged November 30, 1889, and road rostor6<l to company.
In 1891 the old bonds wero nearly all retired, the new capitalization
being $400,000 stock and $600,000 consolidated first mortgage bonds.
The new bonds cover all the property, lncludlng$250,000 of UancookA
AC—
I
Bonds.— The $1,000,000 debentures are convertible on any coupon
day Into preferred stock the lessee jiays Interest on them during first
ten years after Issue. Rental in 189(J-91 was $198,501; In 1890, .$199,;
372; In 1889, $180,6^9.
miivankee & IVorthern.—Schwartsburg,
Wis., to Champion, 254
branches—Sldnaw to Ontonagon, 47 miles; branches, 61 miles ;
362 miles, under construction from Channing, on its main line,
to Sidnaw, ab(mt 44 miles to bo completed in I8i)2. In September,
bridges, etc., and $974,890 for new equipment purcha-sed.
1890, the Chicago Milwaukee A St. Paul gave one share of Its common
Earnings.— ITor the six months ending Juno 30, 1892, compared with stock for each sliaro of the Milwaukee A Northern. The "question of
the previous vear, earnings have lieen as folh)W^s, June bomg partly combining the two properties" was under consideration in 1892.
estimated. (V. 55, p. 21.) See editorial V. 55, p. 4.
From July 1. 1892, to Sept. 30, 1892 (3 months), gross earnings wero
$6,843,000
Gross earnings
Net over exp. and taxf 8. ..$1,875,000
1,222,000
Interest and rentals
$6,965,000
$1,830,000
1,230,000
1892.
$7,042,000
$1,910,000
1,200,000
ProportioutoCan. South. Co...
$653,000
181,000
$600,000
157,000
$710,000
184,000
Leaves
Dividend 2 per cent
$472,000
374,764
$443,000
374,764
$526,000
374,764
$68,236
$151,236
1891.
1890.
SurpUi.s
Balance
$97,236
ANNUAL Report.— Fiscal year ends Deo.
miles;
total,
Annual meeting Is held Calumet stnck, which Is live-sevenths of the whole Issue.
Wednesday In May. Report for
From Jan. 1 to Juno 30, 1892 (0 months), gross earnings were
31.
ou the Thursday following the Brst
1891 was In V. 54, p. 760. See also V. 54,
p. 742.
$66,187, against $64,035; not, $27,486, against $28,807 In 1891.
In 18i)0 gross earnings, $123,469; net, $62,006. Gross earnings in
1889.
1890.
1891.
1888.
President, Charles Bard; Secretary,
1891, $146,505; net, $71,550.
1,540
1,609
1,609
Miles operated
1,537
Cro.ss earnings
$13,770,523 $13,786,925 $14,490,711 $15,162,960 John Tully, 40 Wall Street. (V. 52, p. 390, 57 1 ; V. 54, p. 557.)
9,895,158 10,731,754 11,107,569
Operating expenses. 10,086,606
minncapolls&St.I.oal8.—Owns main line, Minneapolis to Angus,
Paeille Division, Hopkins to Morton, 92 miles Kalo
la., 259 miles
4,055,391 Branch, 2 miles Lake Park Branch, II3 miles; total operated, 35 fa
3,683,917
3,891,767
3,758,957
Neteamlngs
71-77
74-06
73-25
73-24
miles. Leases trackage from Minneapolis to St. Paul over St. Paul
P. cop. exp. to earns.
Net, InclV other Inc.. $3,739,193 $3,938,433 $3,816,450 $4,114,019 Northern Pacific Railroad ; also owns from Minneapolis to White Boar,
$184,310
$184,310
$184,310 12 miles, which Is leased to the St. Paul A Duluth Railroad.
Rentals paid
$184,310
2,270,022
2,2.54,977
2,336,782
2,328,216
Interest on debt
History, Default, Etc.— This company was organized In 1870. The
7,731
134,723
MlsceUaneous
15,938
Jan., 1888, coupon on equipment bonds went to default. W. H. Trues407,444
355,633
446,776 dalc. President, was api>ointcd receiver In June, 1888, In the foreclosure
339,161
Can. Southern share..
suit imdcr improvement and equljmient mortgage. The suit Is pending;
Total payments... $2,876,191 $2,927,701 $2,944,688 $2,8S(!,063 having been postponed till January, 1893; reorganization long delayed.
$871,762 $1,227,936
Surplus for div'ds
$863,002 $1,010,732
In August, 1892, the stockholders ai>pointed a committee consisting
Dividends
(5) 936,910 (5) 936,910(5»a)1030601
(4) 749,528
of F. P. Olcott, August Belmont, W. A. Reiid, W. L. Bull and J. Kennedy To<l to protect their Interests, and were depositing their stock
"$197,355 with the Central Trust Company in exchange for negotiable rooelpti.
Surplus
$113,474
$73,822 def.$65,148
In October, 1892, the stockholders' committee were given a mnjorlty
* Balance to credit of income account Deo. 31. 1891, was $2,296,747.
of the board of directors; a new plan of reorganization is about
—(V. 53, p. 337, 968; V. 54, p. 742, 760; V. 55, p. 4, 21.)
ready. See V. 55, p. 256, 289, 590.
Georgia Sc Atlantic —In operation from Maachcn to
middle
Bonds ,Etg.—Total annual fixed Interest charge is $506,000, and $3.^.Eatonton, Ga., and projected from Savannah to Atlanta, about 236 000 is accruing yearly on theiuoomebondswhicli matured Jan. 1. 1891.
miles. Construction uudertaken by the 8eal>oanl Construction ComOn Oct. 1, 1892, the past-due coui>ons (including Intereston the Inpany, which owns most of the stock. J. D. Weed, Pres't. (V. 53, p. 126.) comes since the principal niature<l) aggregated .i«l. 966. 933, of which
Middlesex Valley.— Opeuc<l for business in October, 1892, from $938,700 duo on the improvement and eiiuipmcut bonds. At samo
Naples, N. v., northward to Stanley, N. Y., 22 miles.
date available assets were $90t).000 c.-ish and $250,000 other assets.
A I'acitio uuil,?rstood to own a large blook
milwankee I,ake Sbore Sc Western.— Owns Lake Shore The Chicago Rock Islandeiiuipiuentisbonds.
Junction to Ashland, Wis., 387 miles; Monico to Hurley, 88 miles; or the improvement and
Bonds issueil umlcr the mortgiige due June, 1927, numbered from
bivanches in (seven number) to Oshkosh, Wausau, Ac, 169 miles;
branches to mines, 33 miles spurs to mills, Ac., 47 miles total owned, 1,101 to 1,400, for .$.300 each, a<lditlonal to those above, were assumed
724 miles leases, Milwaukee to Lake Shore Junction, 4 miles St. P. by the Burl. Cedar Rajiids A Northern KR.
The rental from the St. Paul A Duluth KR. Co. is applicable by ord.T
E. G. T., Clinton to Oconto, 33 miles, and sj)urs, 4 miles total leased, 64
miles total owned and leased, 788 miles but only 753 miles operated, of court to coupons on Minn. A Dulut i bonds, due May 1, 1907.
Payment of Coupons.—The last coupon paid on each issue is shown
30 miles of spurs being leased to various manufacturers.
In December, 1891, the stock was exchanged for stock of the Chicago In the table above. In Atigust, 1892. the court ordered payment ot
A Northwestern RR. Co. on terms mentioned in V. 55, p. 218.
certain couiKms, but api>eals were taken by holders ot Improvomeut
The debentures are convertible Into stock at par at any time bonds and payments were stivyed until the fall. About Sept. 28, 1892,
within ten days after the date fixed for payment of dividends on common two coupons were paid on the improvement boniU.
Latest Earnings.- From July 1, 1892, to Sept 30, 1892 (3 months),
stock. The equipment bonds of 1885 are subject to call $100,000 per
year at 105, and the Ontonagon 1st mortgage $2,"),(X>0 per year at par, gross, $52(»,O0O, agst. $303,706 in 1891; uet, 198.223, agst. $213,903.
redeemable at 105. The extension and improvement mortgage
an<l all
Annual Report.— Fiscal year ends June 30. Report for 1891-92 was
of 1889 sinking fund commences in 1893, and will receive yearly not given in Chronicle, V. 55, p. 296.
less than $23,000; these bonds arc not subject to call. In 1892 to Sept.
1888-89.
1889-90.
1890-91.
1891-92.
1, $3()4,000 extension and Improvement bonds ha<l been Issued for ImGross earnings
$1,330,519 $1,507,124 $1,60.5,364 $1,985,0.(3
provements and .$1 1,000 to retire debentures.
996,559 1,001,930 1,069,146 1,186,601
Oper. exp. and taxes
The annual report for 1891 was in V. 54, p. 596.
In 1891 gross earnings were $3,534,104; net, $1,316,457; interest
Neteamlngs
$333,960 $505,174 $536,218 $798,433
paid, $71H,746 rentals and miscellaneous, less miscellaneous Income
Total net income
$431,663 $612,041 $651,477 $925.635lK.^
($'1,730), $34,710; dividends (7 pn pref.), $350,000; sinking fund,
$65,0-25
$62,281
$61,797
Rentals paid
$63,873
In 1890 gross $;i,S48,567
etc., $160,000; balance, surplus, $2-2,871.
312,873
217,860
35,525
9,800
Interest paid during year
net, »1,432,637.— (V. 53, p. 95, 673, 921; V. 54,p. 119, 328, S96; V. 55,
p. 218.)
$282,885
$97,3-2'i
Total
$73,673 $375,154
.niltvaukee Sc I,ake Wlnnebaso.—OwnsNeenah to Schlelsln- Balance, surplus
$357,992 $236,887 *$368,592 *$8-28,313
Leased for 99 years to Wis. Cent. &t Zl^ i>er
gerville. Wis., 63 miles.
* Additional expenditures out of income for Improvements, eqnipcent of gross earnings as rental but after $175,000 i>er year Is received, the balance of net earnings Is to be equally divided.
ment, Ac. ,$269,294 in 1890-91, and $255,278 in 1891-92.
Caiitai. Stock.— Preferred stock, 6 per cent cumulative, $780,000; -(V. 52, p. .321,608.042.681.718.940; V. 53. p. .368. 436,602; V.
oemmou stock, $5*20,000; par of shares, $100. Preferred regularly 54, p. 443, 721, 762, 964 ; V. 55, p. 2.56, 29«, 208, 373, 500, 806.)
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INVESTOKS' SUPPLEMENT.
[Vol. LV,
.
.
November,
RAILROAD STOCKS AND BONDS.
1892.1
87
Snbscribers will confer a ereat favor by glrlnK Immediate notice of any error dIscoTered In these Tables.
RAILROADS.
Miles
coluum headingB,
on flrat page o( tables.
For explanation
of
Date
of
Par
Amount
Road. Bonds Value.
<t SI. Louis.— ( Concluded)—
lowacitcn. IstM., (?.(A1. Lea to Fort Dodge).. o*
Imp. & equip. M., lat & 2ilscr.,Jun. Ucnonroad.c*
Mort.on Southwestern exteu«ion(i(il2,000 p.m.)o*
2d, M., income, gold (White B'r to Ft. Dodge) .0'
llinneapolia
.
.
Pacific extension, 1st mortgago, gold
Minn.
SI.
Paul d
Saxtll Sle. Jfnrif.—
Common
c*
$1,000
1,000
,
1,000
1,000
1,000
100
100
stock.
Preferred stoclf, 7 per cent, non-cumulative
Minn. Sault 8to. Mario & Atlantic Ist M. gold..o"
Mlnneapoiis & Paciflc. Ist M., $15,000 p. m., g..oConsol. M. (for $21,000,000), $20,000 p. m., g..o*
Income
1879
1882
1880
1880
1881
102
360
53
224
92
495
286
879
1886
1886
1888
1,000
1,000
1,000
cert i rtcat es
Car trusts
MtssouH Kansas it r«:a«.— Common stock
100
100
Preferred stock, 4 per cent non-cimiulatlve
100
Tebo. & Neosho Ist mort., gold, s. f., red. at 100..
1,601
M. K. & T. Ist mortgage, gold
1,601
2d mortgage, (income till Aug., 1895) gold
Dallas &Waco 1st M. ,$20,000 p.m., g.,p.&i.gu.o"
67
Mo. Kan. AEasteru lstM.,$4,000,000,gold,guar, 166
M. K. & T. in Texas Ist M., $20,000 p. m., guar..
Booneville Bridge, leased,lstM.,g.,gu.,dr'n at 100
Missouri Pacific Stock
Pac. RE. of Mo. 1st mort., extended In 1888, gold 283
c
283
2d morl., extended in 1891 in gold
1st mort., real estate, extended iu 1892, gold...
13
1st M. Carondelet Branch, gold, gu. p.ife r(end.)
3d M. (covcr'g all property of Pacific RR. of Mo.) 296
55
Mo. Pacific 1st mort. on St. Louts & Lexington.
Consolidated mortgage, $30,000,000, gold...c' 1,076
1870
1,000
1890 500 &0,
1890 500 &c,
1890
1,000
1892
1,000
1,000
1892
1873
100
1,000
1868
1871
1,000
1872 500 &e,
1873
500
1,000
1876
1880 500 &c.
1,000
1880
—
Minneapolis St. Paul & Sault Ste. ITIarle.— rSce Map.)—
Owns Minneapolis to Sault Ste. Marie, Mich., 491 miles branches, 15
;
from Minneapolis northwest to Mcrricourt, No. Dak., 296 miles;
Haukinson to Valley City, No. Dakota, 82 miles trackage in MinneapoISxtousiou projected in
lis, St. Paul, etc., 20 miles .total, 904 miles.
1892 nortii westerly from Valley City to tiio International Boundary
260 mile.-', of whieli 108 miles to be completed this season. At the
Boundary connection will bo made witli a braneli of the Canadian
Paciflc, iiffording a tlirough line from tlie Paciflc to St. Paul and tho
East. See V. 55, j). 297. Also under construction from Merricourt
westerly 10 miles.
History.— Formed May, 1888, by consolidation of the Minneapolis
Sault Ste. Marie & Atlantic, tho Minneapolis & Pacitle, etc. (See V.
46, pp. 538, 609.) Controlled in the interest of tho Canadian Paciflc.
Stock. — After payment of 7 per cent on preferred, common and premiles
:
;
;
ferred share pro rata.
Bonds.— Can. Pac. guarantees by endorsement 4 per cent interest on
the bonds. (See V. 50, p. 784; V. 51, p. 239.) About one-half the Minneapolis & Paeitic bonds and practically all of the other issues have
assented to the reduction of futerost to 4 per cent. Sec under Cau.v
dian Paeillc, CnRONici.K. V. 54, p. TOO.
Abstract of Minneapolis Sault Ste. Mario & Atlantic mortgage In V. 45,
Under tlie consoi. mortgage of 1888 (trustee, Central Trust
p. 243.
Company, mortgage abstract Chkonici.e, V. 47, p. 142) suHicient bonds
were reserv' d to retire the prior bonds at maturity; see V. 52, p. 608.
Bills payable, including car trusts July 1, 1892, $457,580; due Canadian loan account, $798,593. Sec balance sheet, etc., on June 30, 1892,
In V. v,a, p. 723.
EAKNiNXiS.— From Jan. 1 to Sept. 30. 1892 (9 months), gross, $2,247,S76. against $1,689,671 iu 1891 net. $740,403, against $634,920.
In year 1891 gross earnings, $2,590,896; net, $990,016; interest on
bonds, $846,036, rentals, Ac, $115,364; lialance, surplus, $28,616. See
In 1890 gross earnings, $2,013,370 net, $669,004. (V.
V. 54, p. 847.
51, p. 239, 416; V. 52, p. 280, 608; V. 55, p. 723.)
;
;
inisROuri
Kansas
Sc
Texas.— CSee
Map.)
Mo., to Denison, Texas, 577 miles;
branches. Parsons, Kan., to Junction City, Kan., 157 miles; Denison,
Tex., to Whltesboro, 25 miles; Fort Worth to Taylor, 162 miles; Denl60u to Mlneola, Texas, 103 miles tlu-ee small branches, 20 miles; total
owned, 1,044 miles, not including 54 miles leased to the Missouri
Proprietary lines in Texas (entire stock owned): Denton,
Pacific.
Texas, to Dallas, Texas, 37 miles Dallas to Greenville, 53 miles;
Whltesboro to Henrietta, 87 miles; Taylor to Boggy Creek, 90 miles
San Marcos to Lockhart, 16 miles; Trinity to Sabine, 67 miles Dallas
A Waco RR. Dallas to Mllford, 51 miles (extension since completed,
16 miles); total proprietary lines, 401 miles; total length of all owned
lines operated, 1,445 miles.
Operates Jointly with Texas A Paciflc— Fort Worth to Whltesboro, 71
miles. Leases Kansas City & Paciflc Railway— Paola to Stevens, 130
miles; S. D. A D. Railway- Denison to Sherman, 10 miles; total operated 1,656 miles. Also ojierates the Denison A Washita RR., 15 miles.
The Holden branch additional, 54 miles, is owned by Missouri Kansas A
Texas, but lea.scd to Missouri Paciflc. East Line A Red River RR.—
Jefferson to McKinney 153 miles (of which 121 miles narrow gauge)
Is operated separately by W. M. Giles as receiver.
Extensions to St. Louis and Houston are to be completed by Jan. 1,
1893, and to Lockhart In October, 1892. These will add 282 miles to
the system— see below.
Organization, History, Ac—The Missouri Kansas A Texas Company
was organized April, 1870. In May, 1881, it was leased to the Missouri
Pacific, but on June 1, 1888, default was made on interest payments,
and receivers were appointed. Reorganized in 1890, without foreclosure. In accordance with plan in V. 49, p. 719, the old first mortgage
lielng paid off at par. Tho receivers were discharged July 1, 1890.
In Octeber, 1891, to meet the requirements of Texas laws, the
" M. K. & T. Railway Company of Texas" was formed, with a capital of
$8,000,000 to consolidate all this company's roads in Texas. The entire
atook Is deposited with Central Trust Co. as trustee for the benettt of
the M. K. & T. security holders. Tho Texas charter authorizes the
Issue of tionds at $20,000 a mile. Extensions are in progress from
Boggy Tank to Houston, 80 miles, and Loekliart to SmithvlUe, 36
;
;
;
—
(V. 53, p. 640 V. 54. p. 1047 V. 55, p. 298.)
The Missouri Kansas A Eastern (see below) has been incorporated to
build an extension from BoonvlUo to St. Louis, 166 miles (to be completed this year).
Bonds for $4,000,000 have been authorized.
These pieces of construction will give tho M. K. A T. a tlirough line
Jrom St. Louis to Houston and is In accord with the policy of the reoi^
^anlzed company to round out and make compact the former disjointed system. See V. 54, p. 887.
The company has a land grant In the Indian Territory of 3,622,400
Acres, 8iil))eet to tlic extinguishment of the Indian title. 'The Boonevllle
Bridge Company is a separate organization.
Price of stock.- Preferred stock: In 1890, 16>aa31»8; In 1891, 19%
®295j; In 1892 to Nov. 18, inclusive, 24®33>a.
Bonds.- Full abstracts of tho new first mortgage (trustee Central
Trust Company) and of the new second mortgage (trustee Mercantile
Trust Company) were in V. 51, p. 495. Both mortgages cover tho
securities of proprietary lines, as well im the lines owned directly.
Payment of interest on the new second mortgage bonds is not obligatory
<ill after August 1, 1895, and is not cumulative, but in February, 1892,
ithe coupon of 2 per cent was paid. The agreement to pay coupons on
miles.
;
;
$1,015,000
4,000,000
636,000
500,000
1,382,000
14,000,000
7,000,000
8,280,000
3,480,000
10,834,000
771,000
119,527
47,000.000
13,000,000
187,000
39,774,000
20,000,000
1,340,000
(1)
696.000
47,432,850
7,000,000
2,573,000
800,000
245,000
3,828,000
650,000
14,904,000
6
7
&
A
&
<b
A
D.
J. "a
J.
7g.
J.
J.
J.
J.
J.
J.
J.
g.
7g.
6«. A.
4
4
4
'(fi)g.
(5) g.
(5) g.
J.
&
&
Last paid Deo.,
Last paid July,
La.'it paid Deo.,
J. Last paid Jan.,
O. Last paid Oct,
June
N. Y., Morton, B.
A
g-
J.
J.
4g-
F.
"ad
& D
A A
M. A N
5 I.
5 I. A. A O
'7e. U. A N
See text. Q.-J.
4 g. F. A A
Sg. J. A J
5g. M. A N
eg. A. A O
.
M. A N
7
F. A A
5
eg. M. A N
4
1,
1,
1,
1026
1936
1938
1896
A 1897
Jan.
Apr.
July
Co.
Jan.
N. Y., Atlantic Tr. Co.
"7'g.
10O9
1923
1910
1891
i»ai
July
Dee.
do
do
do
do
1,
1,
1,
1,
1,
July
1887.
1888.
1887.
1888.
1800.
J.
D.
N. Y. Office, 45 Wall St. June
do
do
do
'
Apr.
1,
1,
1,
1,
1996
1990
1990
1940
1942
May
1,
1906
June
Jun*
do
do
Ist coup, paid Feb. '02.
N. Y. Office, 45 WaU St.
Nor.
do
do
do
1,
N. Y., Mercantile Tr. Co. July 15, 1891
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Aug.
July
July
Oct.
Nov.
Aug.
Nov.
1,
1,
1,
1,
1,
1,
1,
1938
1938
1938
1898
1906
1920
1920
the second mortgage prior to August 1, 1895, Is conditioned " upon
such net earnings as shall remain at the expiration of each six months
payment of operating and maiutenanee expenses, taxes, repairs,
renewals, replacements, insurance and interest on the first mortgage
bonds." On August 1, 1H02, no interest was paid on the second mortgage bonds, as It had not been earned in the six months then ended.
Guaranty.— Interest Is guaranteed on $2,500,000 Kansas City A
Paciflc 4 per cent bonds and $752,000 Booneville Bridge 7s, and principal and interest on Dallas A Waco bonds (issue limited to $1,340,000)
The liouds to be issued on the St. Louis Extension by the Missouri
Kansas & Eastern will be guaranteed by tlie M. K. A T., which owns all
that company's stock. Seo V. 54, p. 433. 887.
Tho M. K. A T. In Texas in August, 1892. filed a mortgage to secure
$10,000,000 of bonds, which will be guaranteed— see above.
State KB. Commission.- In August, 1892, the U. 8. Circuit Court
granted an Injunction to prevent tho Texas State RK. Commission
from any longer enforcing the low tariff for freight wlllch they had established about Sept. 1, 1891. See V. 55, p. 314, SSlJ.
Latest Earninos.— From July 1 to October 3, 1892 (4 months),
f-oas (partly estimated) on 1,672 miles were $3,796,018, against
i,7;i,24n In 1891. For tlie half year ending Juno 30, 1892, gross
after
(est.), $4,121,512, against .$4,102,068 iu 1891.
Ansuai, Report— Report for 1890 was in Chronicle, V. 52, p. 640.
Earnings, etc., have been as in the table below, the Receiver having
been in possession till July 1, 1891.
1889.
1890.
1891.
Miles operated (average)
1,711
1,777
1,672
Total gross earnings
$7,922,444 $9,004,005 $9,775,120
Operating expenses
$6,245,006 $6,351,862 $6,977,411
Net earnings
$1,677,438 $2,652,143 $2,797,709
Per cent of operating expenses to
70-22
70-54
71-38
earnings (exclusive of extraod'y)
Rental Kansas City A Pacific ER
99,096
Road Owned and Taxes
Operated.— Owns from Hannibal,
[Bondt—Prtaoi-
INTEREST OR DIVIDENDS.
'pal. When Due.
When W'hcns Payable, and by Stock*— haet
Outstanding Rate per Payable
Wbom.
Cent.
Dividend.
Size, or
of
&c., see notes
187,266
162,280
— (V.
53, p. 21, 95; V. 54, p. 159, 288, 433, 441, 443, 444, 844, 845,
887, 1009, 1047; V. 55, p. 146, 177, 298, 590.)
missonri Paciflc— Road Owned and Operated.—Operates main
Omaha, Neb., 496 miles; Pleasant Hill, Mo^ to
Verdigris Valley Independence A Western RB.
and extension— Leroy to Deering, Kan., 81 miles; Leroy A Caiiey Valloy— Raper to Peru, Kan., 52 miles small lines in Kansas, Mlssoiin and
Nebraska, 780 miles total Mlssom-i Pacific system proper, January 1,
1892, 1,542 miles, of which 1,241 miles are owned and 301 miles op«^
ated under lease.
Also oiierates certain "branch lines" which have a separate corporate existence, but which are nevertheless an integral part of the system, most of their bonds being pledged to secure Missouri Paclflo
Issues. The branch linns Include the Kansas A Colorado Pacific, affording a direct line from Ottawa, Kan., to Pueblo, Col., 540 miles, and
having a total mileago operated of 1,519 miles, this Including the
Pueblo A State Line RR., 152 miles, leased. Other branch lines, 130
miles. Their total milcaKe January 1, 1892, being 1,649 miles. Total
Missouri Pacific aud branch line.s, 3,191 miles.
Also op<>ratcs Central Branch Union Paciflc, 388 miles Sedalia Warsaw A Southwestern. Sedalia to Warsaw, 43 miles St. Louis Iron Mountain A Southern aud leased lines, 1.547 miles
Houston Centrivl Arkansas & Northern, McGehee, Ark., to Riverside, La., 119 miles. Grand
total Missouri Paciflc mileage January 1, 1892, 5,289 miles.
organization. Leases, Ac—The Pacific RR. of Missouri was sold In
foreclosure September 6, 1876. The present company was a consolidation In August, 1880. embracing the Slissoiiri Paciflc and minor roads.
The St. Louis Iron Mountain A Southern stock is mostly owned by the
Missouri Paciflc, much of it having been acquired in May, 1881, by exchange of three shares of Mo. Pac. for four shares of Iron Mountain.
Complete control of tho International A Great Northern was secured In
line St. Louis, «Io., to
Joplin, Mo., 133 miles
;
;
;
;
:
;
the Interest of this company iu 1802. See V. 54, p. 366.
Stock.— Increase of stock to $55,000,000 was authorized In July,
1890, of which $1,000,000 to bo given as bonus with the $10,000,000
collateral trust lionds, $2,000,000 in exchange for Iron Mountain
stock, and tho remainder to be Issued as the stockholders may from
time to time determine.
Dividends— Under the new regnne the payment of dividends was
begun on the present stock In 1880, in wliicii year l^a per cent was
paid. Dividends since have been: In 1881, 6; in 1892, O^; In 1833
to 1887, Inclusive, 7 yeariy; in 1888, 514; in 1889, 4; In 1890,4; In 1891,
January, 1; AprU. 1; July„ 1; none since.
Priceof Stock.— In 1883, SOa-loe'^s; In 1884, 63>aai00; In 1885, 89>«
aill«i; lnl886, 100%®119; In 1887, 84^3112; In 1888, 66"4»893»i
In 1889, 6414378; in 1890, 53a79'4; In 1891. b^H^ll^; In 1892,
to Nov. 18 inclusive, 54i9®65%.
Bonds —The consolidated mortgage Is for $30,000,000—trustees John
F. Dillon and Edward D. Adams. Of the consolidated bonds the balance
unissued is in the hands of trustees to redeem prior bonds as thsy fall
due. See abstract of mortgage in Chronicle, V. 47, p. 287.
The collateral trust bonds due 1917 (Union Trust Company of New
York, trustee) are secured liy mortgage bonds of new roads at $12,000
or $15,000 per mile. For securities pledged, Ac, see V. 46, p. 678.
As to collatoral trust bonds due In 1920, see V. 50, p. 669, 874.
The Leroy Canoy Valley Railroad in Kansas, 80 miles, is leased and
A
—
—
^
-
INYESTOKS' SUPPLEMENT.
88
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MISSOURI,
KANSAS & TEXAS
'
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:
NOVEUBER,
:
RAILROAD STOCKS AND BONDS.
1892. J
89
Subacribers ivIU confer a (treat favor by elTlntc Immediate notice of any error discovered In these 'fablea.
RAILROADS.
ffor explanation of ooluiuu lieadln^s,
on flrst page ot tables.
UiumiH
Pacific
Ac, see notes
Louis & Boutheru RE. Istmort
Ler. ACanoy Vul.RK.lst M. (*! 0,000 p.ni.),Kgu.o*
Verdigris Viil. ludeiiendeuce & \V. let M.,g., guar.
St.
itittOMri Pacijic
St. L.
System— St. Louis Iron. Ml.
it
.
o*
Ist mort., laud grant, gold.
Texas l8tniortgiig«,ifold.c*&r
Cairo /Vrkausiis &
Gen. consol. and laud
or
INTEREST OR DIVIDENDS.
Amoont
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding
Cent.
Payable
WL
vbom.
gi-.
470
44
80
75
1887
1890
1886
1886
18S6
210
310
99
1867
1872
1870
1872
1,120
71
M. ($l.'j,000,000), gold 1,272 •81to'7
p. & i.. 1,272
....
gold, stamped, guarau.
do
Car trusts, series 1). and E
Kansas &. Arkan. Val. Ist M. $20,000 per m., g.
Little Rock & Ft. Smith 1st M.,laiid gr. sink.ftmd..
10-ycarcoup.notes (Sep., $80,20;') due July,1893)
Little Rock Juue. 1st M., guar. p.& l.by Iron Mt..c*
.
—
M.
$1,000 $14,376,000
1,000
7,000,000
1,000
400,000
1,000
520,000
750,000
1,000
165
165
1,000
1,000
1,000
1,000
1,000
1,000
1887
1,000
1875 500 <&0.
2
1891
1,000
146
146
85
122
1887
1889
1877
1891
1,000
472
55
527
100
1879 500 &c.
1883
1,000
1888 500 Ac.
100
it Itirmiuffham.
Stock
($20,000 per mile) gold, guar
Itobile
1st,
Sfxe,
Par
of
F.
F.
J.
6
g.
M.
So...
Iron Mt. & 8o. 1 st M., oxtoiided at 5 p.c.lu'92 c
2d mortKivne. gold
Arkansas Bnincli
Do
Date
Bonrfu— Principal, When
Stocku
Doe
— I.4iat
Dividend.
—(Concluded.)—
eollatfiral trust liouds ($15,000,000) . . .Cir
1st collateral luort. bonds tor $10,000,000 gold.o'
Gold
BoonvlUe
Miles
of
c&r
2d mortgage
Mobile <e (rirurrf— 1st mortgage ($200,000 are 6s).
Consol. mortgage for $ 1,000,000
Jfofti/e rf OAio— Stock (.$10,000,000 authorized)....
IstM., Mob. to L'olum., gold
c
Ist mort. ,exteu.,Coluni. to Cairo <& branch, gold, c
General mort. for $10,500,000, land grant, s. f..c
Equipment boiuls ($00, 1 19 of these are oar trusts)
•84-'90
Monongahelu Hirer— See Baltimore & Ohio.
Montana Central— See Gueat Nohtuern.
1,000
1,000
1,000
4,000,000
6,000,000
2,500,000
1,450,000
18,683,000
6,956,000
782,500
3,400,000
2,342,500
138,110
435,000
3,000,000
3,000,000
1,500,000
1,000,000
590,000
5,320,600
7,000,000
1,000,000
8,219.430
657,832
S
F.
M.
J.
J.
A.
if: A.
St.
4
&
&
A
A
A
&
&
4
<fe
6.
A.
A.
J
8.
N. Y., Mercantile Tr. Co,
do
do
Aug.
Aug.
July
do
Feb.
May
May
A. N.Y. Mercantile Tst Co.
N. New York or Ix>ndon
D, N. Y., MercantUe Tr. Co.
D.
do
do
do
do
O.
O,
do
do
de
do
June
June
Apr.
Apr.
do
do
do
do
1917
1920
1,
1,
1,
1,
1,
1926
1926
1,
1,
1,
1,
1,
1,
1897
1897
1895
1897
1931
1931
19U
Jan. 1, 1937
Jan. 1, 1905
Boston, E. AtUus & Co J'ly'93-Jan'94
O. N.Y., Mercantile Tr. Co, Apr. 1, 1916
7
J.
J.
6
A.
&
&
4
J.
& J. Jan.,'92,ooup. last paid,
"V-
Jan.
do
N. Y., Am. Ex. Bank.
N.Y., MercantUe Tr. Co,
J.
J.
Jan. 1, 1987
June, 1939
4 D, N. Y. Seoiuity 4'Tr. Co, June 1, 1897
4 D,
5
"eg. J. 4 D. N.Y.,Fami.L.4Tr.Co. Deo. 1, 1927
Q.— Jan.
do
do
July 1, 1927
M. 4 S. N. Y., Gallatin Nat. Bk. Sept. 1, 1988
Varlo's.
6
New York City.
Var., 'Si-lSW
4<b6
bonds guaranteed by Missouri Pacitic as also tlie Verdigris Valley Independence i Western. Tlie Booneville .St. Louis & Soutliern RR. (BoouevUle to Versailles, Mo., 4-1 miiesj is leased at $25,000 per annum.
General Fixa.nces.— At the meeting of directors in New York Seiv
tember 30, 1891, the October dividendTwas passed and the stock fell on
October 1 to 543j. See V. 53, p. 474.
The report for 1891 say« that the charges against net earnings of the
Missouri racitlc and Irou Mountain compauies for the year include
$663,431 expenses of refunding $7,000,000 of Cairo & Fulton llrst
mortgage 7 per cent bonds, also a similar expense of $128,650 for extending at 5 per cent .$2,573,000 second mortgage 7 per cent bonds of
the Pacitic Railroad of Missouri. The funding of tiiese bonds resulted
In an aggregate reduction in interest annually of $190,000. In addition
to the foi'cgoiug the sura of $3iHJ,000 was paid iu cash tor purchase of
one thousand l»ox cars and $142, H,");! for construction of new lines during the year, an aggregate of $1,030,134. The floating debt Jan. 1,
1892, consisted of $4,322,017" advances by directors."
EAKNIXG9.— Gross earnings of Mo. Pacific and St. L. I. M. & So. combined for 9 montk.s to Sept. 30 iu 1892, $19,881,050, against $18,204,-
The $1,000,000 first mortgage bonds maturing August 1, 1892, were
extended at 5 per cent per annum until May 1, 1897. V. 55, p. 1()0.
The Little Ro(^k & Fort Smith Road was absorbed by an exchange of
Its stock in 1887 (4 sh.ires for 3 of St. Louis 4 Iron Mountain.)
See title
of that company In Sdpplement of May, 1888, and previously.
Tlio St. IjOuIs 4 Iron Mount, report for 1801 was in V. 54, p. 442, the
Item of " taxes, bridge expenses, etc.," being explained In a footnote
O06
Total disbursements
$3,821,018 $3,986,779 $3,857,700
Balance for year
but. $240,866 def. $69,936 sur.$39,747
* This item includes
Discount and premium, $662, ()l)5; Interest on
Kansas 4 Arkansas, etc., bonds, $395,310; taxes, $245,524; bridge
improvements, $254,894; trafllo association, etc, $27,804.
—(V. 53, p. 474; V. 54, p. 44», 762; V. 55, p. 100, 551.)
in 1891; net, $5,061,790, against $4,056,93!).
REPt>RT. The fiscal year cuds Dec. 31. Annual meeting Is
St. Louis in Marcli. The annual report of Missouri Pacific for
1891 was iu tlie Chronicle, V. 54, p. 442, 483. The gross earnings,
operating expenses and surplus earnings of all lines operated have been
—
Annual
held at
as follows
AUlmes—
1889.
Miles operated, average
Total earnings
1890.
1891.
5,019
5,109
5,283
$23,493,467 $25,370,344 $25,918,106
15,532,883 18,002,729 18,495,357
1889.
1890.
1891.
1.208
1,550
1,547
$8,964,795 $10,859,173 $11,581,034
$3,773,355 $3,889,487 $3,877,034
288,529
27,356
20,413
Miles operated
Gross earnings
Net earnings
Other receipts
Total net Income
Interest
n bonds
Taxes, bridge expenses, 4o
Dividends
$4,061,884
$2,407,626
383,144
1,030,248
$3,916,843
$2,414,506
798,979
773,294
$3,897,447
$2,271,471
'1,586,229
:
BlrmlniUam,— C5ee Map
Mobile dc
Oeo/-ffia.;— Mobile to
East Tennessee Virginia 4
Marion Junction, Ala., on the East Tennessee VU'
Road, about 147 miles; trackage to Mobile and Selma,
17 miles; opened in July, 1888. Abstract of mortgage V. 45, p. 274.
Surplus earnings
$7,960,584 $7,367,615 $7,422,749 East Tennessee Virginia 4 Georgia owns a mi\Jority of the stock
and
Ratio op. exp. to gross earn
6612 p. c. 70-96p.o. 71-36 p. c. guarantees prLncipal and interest of first mortg,age. In June, 1892, the
For the Missouri Pacific proper and branches (3,191 miles), not in- East Tennessee having gone into receiver's hands, Mr. T. C. Bush, was
cluding Iron Mountain and other auxiliaries, the report was as follows, appointed receiver. Coupons duo July 1, 1892, were not paid. See V.
the item of " taxes, rentals, etc.," In the income account of 1891 Ijeing 53, p. 21, 59. Stock, $3,()00,000 (par, $100). In year ending June 30,
explained iu a foot-note.
1892, gross receipts, $274,664, against $286,714 in 1890-91, falling off
1889.
1890.
1891.
being due to depression throughout the South. In 1889-90 net, $t>l,199;
Miles operated December 31
3,119
interest, $150,000; taxes, $11,562; deficit, $100,362, against $136,550
3,145
3.191
Passenger earnings
$2,665,354 $2,742,808 $2,663,798 for 1888-89. Total deficit to June 30, 1890, $236,912. (V. 51, p 612:
Freight
8,286,682
9,174,427
8,865,315 V. 55, p. 21, 59.)
HaU, express and mlsceUaneous.. 1,624.184
1,589,294
1,691,984
Mobile Sc CIrard.—Owns from Columbus, Ga., to Searlght, Ala..
122 miles. Extension proposed to Andalusia, Ala. Charles L. Pollard
Total earnings
$12,576,220 $13,506,529 $13,221,097 appointed temporary receiver on Nov. 11, 1892.
Total operating expenses
8,868,828
10,224,706
9,920,148
Lease.- From June 1, 1886, leased to Central of Georgia (which July
Net earnings
$3,707,392 $3,28 1 ,823 $3,300,949 1, 1893, owned $816,200 stock) for 99 years, with a guaranty of l>a per
Dividends, Interest, 4o., received. 1,981,790
2,223,951
634,054 cent per annum on $173,400 stock. Stock.- Common stock, $1,251,208; preferred stock, $11,344, and $2,530 Pike County stock; par. $100.
Total net Income
$5,689,182 $5,505,774 $3,935,003 Bonds.— The first mortgage bonds, of which $200,000 are 6s and $800,000 48, are guaranteed, principal and interest. Consols, at $13,600 par
Interest on bonds
$2,458,485 $2,598,143 $2,776,.580 mile for extensions were authorized, the total issue not to
exceed
Dividends paid1,758,994
1,823,498
1,422,859 $4,000,000. The Central of Georgia owns the $590,000 consols outTaxes, rentals, 4o
793,275
588,187
11,824,796 standing. Earnisos.-Iu 1890-91 gross earnings, $205,145; net, $4,813. In 1889-90 gross, $374,082: net, $68,017, against $93,564 In
Total disbursements
$5,010,754 $5,009,828 $6,024,235 1888-89. Piyment^s due by leasee In year 1892-93: Interest,
$74,300;
Balance for year
.^-|-$678,428
-f$495,946—$2,089,232 rent, $19,146; total, $93,446. See earnings for portion of 1892 under
• Paid 4 per cent in 1889 and 1890 and 3 per cent in 1891.
Central of Georgia.
Interest and exchange, $194,231;
t This item is made up as follows
Mobile Sc 0\\\o,—(See Jfap.;— Owns from Mobile, Ala., to ColanH
<liscouut and premium, $767,003; extending second mortgage bonds, bus, Ky., 472 miles, proprietary
line, Kentucky 4 Tennessee Railroad
$128,650; taxes, $567,456; Western Association expenses, $27,773; to Cairo, 21 miles; also branches to Starkville,
4o., 34 miles; total
rentals, $139,683 total, $1,824,795.
owned, 527 miles leases St. Louis 4 Cairo Railroad, Cairo to St. Louis,
—(V. 52, p. 486, 534, 761; V. 53, p. 474; V. 54, p. 78, 44*, 483.)
152 miles, and track to MlUstadt, 9 miles; total operated, 637 miles.
nilitsourl Paclflc System— St. I,auls Iron mountain Sc
History, Etc.— Chartered in 1818,
Hue
reorSoutliern.—Owns St. Louis to Texarkana, Texas Line, 490 miles; ganized in 1879 without foreclosure. main 1836 opened in 1861, Cairo
In
branches to Belmont, Mo., Bird's Point, Mo. (Cairo), Camden, Ark., Railroad (161 miles) was leased for 45 years. the St. Louis 4
See that company.
Helena, Ark., Cusliman, Ark., Arkausas City, Ark., Warren, Ark., Mem- As to the talked-of extension to Montgomery
see V. 55, p. 765.
Dhis, Teun.,<&c., 714 miles; total owned January 1, 1892, 1,201 miles.
Lands.- Lands June 30, 1892, were 614,584 acres, valued at $318,842.
Xieases Little Rock 4 Fort Smitli and Little Rock Junction railroads,
SrocK.- Stock authorized, $10,000,000; outstanding, .$3,3'20,600:
172 miles; Kansas & Arkansas Valley RR., 170 miles. Total operated
January 1, 1892, 1,547 miles. The Camden 4 Alexandria, 32 miles, par, $100. The assented stockholders claim that the old holders or
debentures, having aooopted mortgage bonds for their holdings (ex•was acquired in MaT, 1892, and extended 33 miles to Eldorado.
Stock.— The stock ($25,784,200) is nearly all held by the Missouri cept $63,900 which they offer to pay off), should no longer control the
Pacific Railway, most of It having been retired in May, 1881, liy tlie company by the voting trust. The question at Issue is one of law. See
issue of three shares of Missouri Pacific stock tor four of Iron Mountain. V. 54, p. 329, 683, 763. 800.
Bonds.— In 1888 the 4 per cent mortgage for $10,500,000 (trustee.
Lands. The sales of laud in .Arkansas for 1891 were 59,361 acres at
$2-83 per acre, the total sales inciuding town lots being $168,340; in Farmers' Loan 4 Trust Company,) was issued to p:iy floating debt,
Missouri as 5,736 acres tor $2 79 per acre, the total sales Including retire debentures, 4o. Until September 1, 1891, interest was payable
*own lots lieing $16,004; from Little Kook 4 Fort Smith Raiiroa<l grant in scrip. There can be no foreclosure under this morteage till four
14.520 acres for $314 per acre. Lauds in Arkansas uu.sold December coupons are In default. Of the total amount ($10,500,000) authorized
31,1891.678,265 acres; in Missouri, 86,761 acres; of Little Rock 4 under this mortx'age. there have been canceled by operation of the
sinking fund $6 18,300, there are held to exchange tor debentures not
Fort Smith Railroad, 523,168 acres.
Bonds.—Tlie general consolidated mortgage Is for $45,000,000, bonds exchanged $40,370. and the company holds in reserve In its tre^vsury
ibelng reserved to retire ail prior issues, these covering only 485 miles. $1,899,500. In fiscal year 1891-93 $175,000 general mortjfage bonds
The mortgage is a first lien on tlie 787 miles in Arkansas and on all un- were sold and .$119,000 canceled. See mortgage abstract, V. 47, p. 83.
Price of Stock.— In 1891, 26345; in 1892, to Nov. 18 inclusive, 33
sold lands, amounting to 765,020 acres on January 1, 1892. Trustee of
mortgage. Mercantile' Trust Company of New York. As indicated in ®42>4.
the table above, part of tlic general mortAago 5s are endorsed with the
Earnings.- From January 1 to June 30. 1893, (6 months) gross earnMissouri Pa(!iHc's guaranty of principal and interest. January 1, 1892, ings (partlyestiinated) were $1,611,417. against $1,713,529 in 1891.
there were still $139,500 old Incomes of various Issues outstanding.
ANNUAL Rei'ort.— Fiscal year ends Jiiue 30. Report foryear 1891-92
"Advances by directors" January 1, 1893, $680,390—sundry accounts Juno partly estimated, in V. 55, p. 764, showed a smaller falling off
payable, $1,033,744.
than might reasonably hive been expected In view of the hard tnnes
Totalexpenses
glnia
4 Georgia
:
;
;
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NOTEHBBB
KAILROAD STOCKS AND BONDS.
1892.]
SnbscrtberB
nrlll
confer a Kreat favor by k'^Iok Immediate notice of anjr error dlscoTered In these Tables.
Bond*— PrlnoiINTEREST OR DIVIDENDS.
RAILROADS.
Miles
For czplauation of column headings,
on first page of tallies.
Date
of
of
&o., see notes
Size,
389
Uergan'a La. it Tej-.— Ist M. (N. O. to Morgan CItyjo*
iHt mortgage, Alexandria Extension, gold
102
157
80
it
1888
1879
1889
1878
1880
1899
81
N. O. Opel. & Ot. West, b s. ex. in '89 (assumed).
MorrU it fixsfx— Stock, 7 p. c. guar. D. L. &
Ist mortgage, siulciug fund
Convertible bonds
Gen. M. & Ist on Boonton Br. &c. (guar. D.L.<SeW.)
Oonsol. M. (for $25,000,000) guar. D. L. <fe W.o*4r
Special real estate liouds
Morris & Essex Extension stock, guar. 4 per cent
MorrisiowH cC- 6'i«»i.. (lap— 1st M.,$25,000 p.m., gld.c'
Iftuhua <C ioioeiJ— Stock,9 p.c. rental,92 yra. B.&M.
Bonds not mortgage, gold
do
gold
Do
ffcuhvUlt Chattanoopa it St, Louis Stock
Ist mortgage (for $6,800.000)
o»&r
c*4r
2d mortgage, gold or silver
Ist M. oil Payette, and McM.brs. ($6,000 p.m.jCAr
Ist mortgage on I>ebaiiou Branch
c*
Ist M. on Jasper Br. ($90,000 are 8s, due 1906)c*
lat mortgage on Ceiitieville Branch, gold
o*Ar
Ist M. on Tracy City Br. (Teun. C. &T. RR.).o**r
Ist M. on Bon Air Br. red. at par aft. July '97, ... c'
Consol. M. ($20,000,000), $20,000 p. m., gold. .0Duok River RE. 1st M., ,$G,000 p. m., assumed-o*
W
"50
1,000
1,000
1,000
1871
1875
137
Var'us
100
2
40
1891
1,000
15
100
1873
1880
ioo
340
321
1873
1881
1877
1877
125
20
43 '77-'83
46 1883
20 1887
7 1887
710 1888
48 1876
48 1881
119
119 1870
91 1887
73 1888
.
o*
Ktuhville it 2>cca(«c— Stock, guar. 6 p. c. by L. & N.
Ist mort., guar., s. f. ($200,000 held in sink. fd.).
Sash. Flor. il SAe^f.— 1st M. ($2,500,000), gold, gn.c
Nashville it Kiioxeille—liit mort. for $2,000,000. .0*
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &0.
1,000
25
p. 233.
1889-90.
!3, 173,431
$1,070,918
934,3'29
1890-91.
$3,559,138
1891-92.
.$3,443,760
$1,215,712
1,038,264
$1,086,293
1,044,131
M
$9,727,000
1,500,000
864,000
5,000,000
1,494.000
249,002
15,000,000
5,000,000
281,000
4,991,000
12,151,000
2,795,000
221,000
1,000,000
800.000
200,000
100,000
10,000,000
6,300,000
1,000,000
750,000
300,000
461,000
376,000
580,000
130,000
4,147,000
86,000
A.
J.
J.
<Ir,
4
DIrldend.
Nov.
July
July ,'91, coup la»t paid. July
N.Y.,8.Pao.Co.,23Broad Apr.
do
do
JiUy
do
do
Apr.
N.T., Del. Lack. A Weat. July
N. Nor.,'01,ooiip. last paid
J. N. Y. Stale Trust Co
J.
1,
1,
1,
1,
1,
1.
1938
1909
1929
1918
1920
1899
1892
1914
1900
1901
1915
A ().
J.
A (>.
7 per an. J. A.
2,
M A N.
7
do
do
May 1,
J. A J.
do
do
7
Jan. 1,
A. A O.
do
7
do
Oct. 1,
7
J. A U.
do
do
June 1,
do
do
Various.
41s & 5
do
do
Nov., 1892
4 per an. M a'n.
Jan. 1, 1921
6g. J. A J.
9 per-au. M A N. Nashua, 2d Nat. Bank, Nov. 1, 1892
do
do
Ang. 1, 1893
?«• F. A A.
do
do
July 1, 1900
J. A J.
5 per an. Q.-F. New York A Nashville. Nov. 1, 1892
7
j: A J. N.Y.,ContlnentalN.Bk. July 1, 1913
6
do
do
J. A J.
Jan. 1, 1901
6
J. A J.
do
do
Jan. 1, 1917
6
J. A J.
do
do
Oct. 1, 1917
do
do
Jan., 1906 A' 23
6g. &8 J. A J.
J. A J.
do
do
Jan. 1, 1923
J. A J.
do
do
Jan.l893to'17
6
J. A J.
do
do
July 1, 1917
A. A ().
do
do
Apr. 1, 1928
6*8 J. A J.
do
do
Jan. 1, 1896
M A N.
do
do
Nov. 1, 1909
Nashville.
6 per an. J. A I).
Deo. 6, 1892
7
J. A J. N. Y., 120 Broadway.
July 1, 1900
P. A A.
N. Y. and Louisville.
Aug. 1. 1937
M A N. N. Y., Mercantile Tr. Co.
1918
A.
J.
f«-
A,
A.
.1.
24,00a
2,265,582
2,100,000
2,096,000
1,170,000
1,000
1,000
1,000
which have prevailed in the South, and the damage from severe and
1888-89.
Total gross earns*... $2,881,473
Net earnings
$934,780
Interest and rentals.
709,901
Whom.
$1,000
1,000
1,000
1,000
1,000
Var'un
,
unprecedented floods— see V. 55,
Ou^ts™t2S3LgBaU.^^r^WUen^ Where Payable, and by Slocki—lMtt
1864 500 4c.
84
—
2d mortgage, assumed
pal,When Due.
or
Par
Road. Bonds Value.
Mex. Oulf—lBt. M. S25,000 per m., g.c'
ifonlgom <t Eiifaiila—\%t, 8. f., .|15,000 not dr'n. .0*
Want. TiuK. it ilem.—l(A M., $18,000 per in., gold. o*
Mmlerey
91
lanta, Oa., 138 miles; total operated June 30, 1892, 810 miles. Also
owns the Tennessee A Coosa Railroad, which will be extended so as
to run from Gadsden, Ala., via Manchester, to Bell's Factory or
Huntsville, 75 miles. The Western A Atlantic is leased for 29 years
from December 27, 1890, at $420,012 per anniun.
Stock.— A mi\jority of the stock ($5,077,500) is owned by the Louisville 4 Nashville, and pledged for its unified mortgage, etc.
Surplus
.$224,879
$116,589
$157,448
$42,162
Dividends since 1880— In 1881,3; in 1882, 1 "a; in 1883 and 1884,
There should be added to the $42,162 surplus as above in 1891-92 the
balance on hand Juno 30, 1S91, $17,415, and proceeds of bonds .and 2; in 1885. nil; in 1886. 1 in 1887,4; lnl888, 4J4; In 1889,5; In
1890.5; in 1891. 5; in 1892, Feb.. II4; May, Hi; Aug., 114; Nov., 1>4
stock sold, inakiiig $'206,487 expended for new equipment and additions to property, $218,070 balance, surplu.s, $11,583.
Bonds.- The Tracv City branch 6s fall duo $20,000 yearly on Jan. 1
—(V. 53, p. 186, 584, 601 V. 54, p. 78, 266, 276, 329, 683, 762, 800; 1893, to 1916 inclusive, and $100,000 on Jan. 1, 1917.
V. 55, p. 233,253, 764.)
Of the consolidated mortgage of 1888 (United States Trust Co., trusMonterey &. Mexican CJnlf.—Owns road completed in August' tee), $1(3,807,000 bonds were reserved to retire all prior bonds.
1891, from Veuadito (on the Mexican lutematioiial Railroad) via
GKNKR.vi, FiNANCBS.— In May, 1892, $5t)0,000 additional first conMonterey to Tampieo, on tlie Gulf, al>out 390 miles. An extension solidated mortgage 5 per cent gold bonds were issued to acquire new
from Venadito to Sierra Mojado was to be built. See V. 54, p. 964. road, etc making the total amount listed .$3,847,000. and in June
On April 23, 189'J, the company being embarrassed, J. Robertson, $300,000 more to acquire the Tenn. A Coosa RR., 37 milo.s in operation.
formerly General Manager, was api)ointcd receiver in Mexico.
Bills pavable were $1,546,844 on Julv 1, 1892. against $2,164,138
<See V. 54, p. 643; V. 55, p. 765.)
The Central Trust Company July 1, 1891. As oftsets were hold $1,057,000 LoiiisviUe A Nashville
of New York IS trustee of the mortgage. Sinking fund after November unified 4s, etc. See full statement in Ciiuonicle of Sept. 24, 1892.
L.\TEST EAKNINO8.— From July 1 to Oct. 31, 1892 (4 mouths), gross
1, 1898, but bonds cannot be drawn. Mexico gives this road a subsidy
of $14,222 per mile in 6 per cent silver bonds. Stock $100,000.
$1,799,968, against $1,993,746; net, $711,893, again.st $790.875 InFrom January 1 U> Apr. 30, 1892 (4 months) gross earnings were terest, rentals, etc., $489,681, against $543,840; balance, surplus,
$297,661, against $293,593 in 1891. In 1891 gross earnings were $222,212. against .$247,035.
Annual Report.— Fiscal year ends Jime 30. The report for 1891-92
S883,462. In 1890 on 242 miles gross earnings were $420,867; net,
$284,018.
General Trevlno, President, Mexico; T. 8. Bullock, Vice- was given at much length in Chronicle V. 55. p. 502, 504, showing
President, 40 Wall Street, New York. (V. 53, p. 126, 289, 475, 485; earnings as in the table below, the earnings of the Western A Atlantic
;
;
;
;
.
;
V. 54, p. 643. 964; V. 55, p. 765.)
being Included for the
time in 1891-92.
1888-89.
1889-90.
1890-91.
1891-92
652
652
652
810
80 miles. Foreclosed May 1, 1879, and re-organized. Operated under
$3,300,165 $3,550,460 $3,943,304 $5,353,288
eontiact by Central of Georgia, which guarantees the principal and
Net income
1.348.721 1.430.414 1.657.063 2.060,893
Interest of the bonds. Stock Is $620,000, all owned by Central Railroad
Interest on debt and taxes $869,696 $873,388
$914,799 $950,515
of Georgia. In year ending June 30. 1891. gross earnings, $307,013
....
....
420,012
net. $58,553; Interest and sinking fund, $105,000. In 1889-90 gioss, Rental W. A A. RR
(5)333,426 (5)333,427 (5)333,427 (5)500,000
$364,169 net, 8128,731. See earnings for portion of 1892 under Cen- Dividends
Improvements
60,903
142,617
85,881
118,111
tral of Georgiiv.
Montgomerv & Enfaula.—Owns Montgomery to
Euf aula,
Ala.,
first
Mileage end ot year
Gross earnings
;
&
nontEomery Tusraloooa Memphis.—Projected from MontTotal disbursements.. $1,264,025 $1,292,696 $1,390,843 $1,988,689
Komery,^la.. on the Alabama Midland, to Columbus, Miss., 175 miles.
$84,696 $137,718 $266,220
$72,253
In May, 1892, graded nearly to Tuscaloosa, Ala., about 100 miles. Balance, surplus
As to talked-of arrangement witli Mobile A Ohio, see V. 55, p. 765.
(V. 52, p. 40, 832. 899; V. 53, p. 21, 95, 406 V. 55, p. 22, 502, 504.)
common $1,150,000; preferred, $1,150,000; par
Stock authorized
Nashville tc Decatur.- C5«« Map Lmtistille it yashville.)—Ovra»
$100. C. C. Munroe, President, 77 William Street, New York.
from Nashville, Tenn., to Decatur, Ala., 119 miles. The road was leased
Morgan's Iioulalana Sc Texas Railroad ic SteanislilnCom- May 4, 1871, to the Louisville A Nashville Railroad for 30 years Cram
patny,^< See Map of Southern Pacific Vompany.) Owns fi'om New Op- July 1, 1872, at a rental of 6 per cent per annmn on the stock. 'The
leans to Cbeneyville, 204 miles; brandies, 55 miles trackage Clieuey- lessee assimaed all the debt and owns $823,300 of Its stock. In 1890-91
vUle to Alexandria, 24 miles total, 283 miles. In February, 1883, the gross earnings. $1.491,782 net, $566,897.
stock was mostly purchased for the Southern Pacific Company, wliich
Nashville Florence
ShelBcId.- C.^e« Map Louisville it
on Jan. 1, 1892, held $14,994,000 of the total $15,000,000 (par. $100). ville.i Owns from Columbia. Teuu., to Florence. Ala.. 79 miles,Xashwith
In November, 1891, stock was Increased to $15,000,000. Operated branch Iron City. Tenn., to Pinckiiey, Teun.. 12 miles, aud has trackage,
imder lease to Soutliern Pacific Co., the lessee paying all charges and Florence to Shettield (Memphis A Charleston Railroad). 3 miles; operalso 23 per cent of the net profits under the omnibus lease.
ComNapier branch, 11 miles total, 103 miles. Operated by Louisville
pany has 18 iron steamships, of which 13 were owned, plying between ates
and
A Nashville,
New York and New Orleans and between Gulf ports also wharves, the bonds bywhich company guarantees tho principal stock,Interest ot
endorsement, and owns $729,400 of tlie
par .$100.
warehouses, aim on Jan. 1, 1892, owned $3,880,000 of the capital stock In 1890-91 gross earnings were $230,058; net, $31,193; taxes,
$6,201;
of the Houston & Texas Central tailway Company, Ac.
Interest, etc., $101,009; deficit, $70,018. President, M. H. Smith, LoulsFrom January 1 to Sept. 30,1892 (9 months), gross earnings were vlUe, Ky. (V. 53, p. 793.)
$3,641,475, against .$3,780,624 in 1891; net, $514,635. against $707,Nashville
nox vllle.—Owns from Lebanon to 6 miles beyond
721. For year 1891, gross, $5,683,432; net, $1,525,530; surplus over
charges, $753.612 net profits due company under lease to Southern Cookville. 65 miles, and branch to Carthage. Tenn, 8 miles projeoted
to coal fields ot Fentress and Overton counties.
Stock, authorized,
Paciflc, $556,441, against $565,799 in 1890.
outstanding, $373,450; par, $100. Trustee ot mortgage.
Morris ic Essex.— C5ee Map of Delaware Laekawana it Western.)— $500,000; Trust Co. of New Y'ork. In year ending June 30, 1892, gross
Mercantile
Owns from Hoboken, N. J., to PhiUipaburg, N. J., 85 miles; branch, earnings were $71.890 net, $23,330 Interest on bonds, $54,900.
Denvllle, N. J., via Morris A Essex Tunnel, to Hoboken, N. J., 35 miles;
Nausfatnck.- Owns from Naugatnck Junction, to Winsted, Conn.,
leases: Morris & Essex Extension RR. into Paterson, N. J., 2 miles;
other lines, 14 miles; total operated, 136 miles. In 1868 leased In per 56H) miles; leased, Watertown A W^terbury Railroad, 4'9 miles; total
to the Delaware Lackawana & Western RR., the lessees assum- operated, 61 miles. Leased for 99 years from April 1. 1887. to New
Eetuity
York New Haven A Hartford at $206,000 per year, earnings being Inig all lialiilities and paying 7 per cent per annum on the capital stock.
They also agree to pay 8 per cent in case 10 per cent is earned on the cluded in those of tlie lessee. In year ending September 30, 1887, gross
earnings were $725,828: net, $246,664.
stock in any one year. Lessee July 1, 1891, licld $500,000 stock.
The Morris A Essex is important to the Delaware Lackawanna A
Ncsquchonlna Valley.—Owns from Nesquehonlng Junction, Pa.,
Western as a route witli terminal facilities on New York Harbor, but to Tameiiend. Pa.. 17 miles; Tunnel Branch. Haiito. Pa., to Lansford, Pa.,
the actual earnings on the read show a large auuual deficit for the 1 mile; total operated, 18 miles. Leased for 999 years to the Lehigh
....
.
lessee company after tlie payment of f g^fjji
.fi,g iQ(,<, JO lessee was
Coal A Navigation Company. In 1884 the option to purchase the (took
In 1880, $1,01'2,416; in 1881, $985, 89i
at par and interest was suspended tor 20 years, with a guarantee ot 5
81,104,218; in 1884, aliout $1,100,000; In 1885 and 1886, about per cent per annum on stock.
$900,000. In 1891, gross earnings of road proper (119 miles) were
Novadii Central.— Battle Mountain to Austin, 94 miles (3- ft. guage.)
$5,531,390; net, $1,789,277. (V. 52, p. 280, 350; V. 53, p. 370.
Stock. $750,000; par, $100. Road sold in foreclosure June 21. 1887.
Nashua Iioivoll.^Owns from Lowell, Msiss., to Nashua, N. H., Above bonds were issued in exchange for $750,000 old firsts. For year
15 miles. On Octol)cr 1, 1880, a lease for 99 years to the Boston A ending June 30. 1892, gross, $39.089 deficit uudor operating expenses,
LowcU WHS made. In 1887 lease was transferred to Boston A Maine $10,887. Gross earnings in 1890-91, $33,483; deficit under operating
Raili'oad Coiupaiiy, whicli pays a rental of $73,000 (9 perceuton stock). expenses, $3,763.
The funded debt of $3*0,0O0, principal and interest, is assumed by the
Netvark
Hudson.—Owns from Bergen Junction to Newark, N.
lessee, and the lessor holds tho lessee's notes for the same amount
J., 6 miles.
Leased to New York Lake Erie A Western at a rental of
«300,000. (V. 45, p. 143.)
$17,500 per annum. Erie pays interest on bonds and Includes earnings
NashVllle Chattanaosa A. St. I.onls.— CSce Jfni).;—Owns from in Its own statements. Stock, $2.50,000 par, $100. In year ending
Chattanooga, Tenn., to HlcKman, Ky., 320 miles; branciies to Lebanon, Sept. 30, 1891, gross earnings, $84,327; net. $6,850; deficit under
Ac, 352 miles; leases Western A Atlantic, Chattanooga, Trnn., to At- Interest, $10,650. Cortlandt Parker. President. Newark. N. J.
—
—
;
—
;
;
;
&
—
;
;
AK
;
;
;
;
.
&
;
A
;
02
INYESTOKS' SUPPLEMENT.
[Vou LV.
.
;
1
November,
RAILROAD STOCKS AJJD BONDS.
1892. J
03
Subacrlbem ivlll confer a great favor by Kivlns Immediate notice of any error discovered In tbese Tables.
.BoMrf*— PruMSIRAILROADS.
nfTEREST OH DIVIDENDS.
MUcs Date Size, or
Amount Rate per; WTien Where Payable, and by pal.When Dae»
for explanation of column headini^s, &o., eeo notes of
of
Par
Sloekt—UiSt
Katigalxick—SVKIO p.c. ron'l, 90 yr8.,N.Y.N.H.(tH.
1st mortgage
r
Nesquchoning Fft*.— Stock, 5 p.c. gu. till 1004
Nevada Central— \styi. g., income (sinking fund)
Newark A Hudson— \st iiiortKago
o
Newark Somerset <* S/raWsr.— lstM.,oxt.ln '80, g.o'
Netcburg Dutchess
Co»)irc(iCT(<— Income bonds..!
$100
55
18
94
5
44
<t-
.yew Oaslle
cf-
Hearer
I'd/Zci/— Stock
New Haven
d? Derbif—2d mortgage (now Ist) guar.o*
mort for $800,000, int. guar, by rental. 0*
Mortgage on Uuntlngton Branch
Funded coupon ocrtiiicatcs
Consol.
"l5
13
13
4
Real Estate Certificates
N. Hav.J: Norlliamp.—Btns, gu. 99 yrs.N.Y.K.H.&H
1st mortgage
.
o'
Consol. siiilc. fund $15,000 per year not drawn. c*
Northern E.xten.iiou bonds
0*
(not nioitgiigo) convertible into stock... o*
W., leased, 1st
2d M. ($200,000 gu.).o*
Jersey Junction— let. M., guar, by N. Y.Cent.cAr
Jersey li New TorAj— 1st M. (reorganization). e*
Bonds
IIolv.
New
New
&
&
2d mortgage
r
N. J. <& N.Y. E.itension 1st M., int. guar
Neic London Northern Stock
Consolidated M., now Ist M. (SBG88,000 are 48). o*
Nevrport News <£ Mississippi Tatley— Stock
New Orleans d- North iLV(«(er74— Prior lion m., gold.o*
—
1 St
mortgage
N. Orl'ns it North TTegCM— l8tM.,$20,000 p.m.,g.,c*Ar
New Orl. tC So.— FrlorHenM. ($250,000) g.,red. at 105
1st mort. for $1,000,000, income for five years. ..
N. r. Brooklyn a Man. Jleatli—y. Y. & M. B. Ist M..0*
N. \. B. ife M. B. Ist con. M., gold, guar, by Ij. T.c*
92
114
27
"l?
5
34
34
1883 l,0O0<tc
60
1888
1,000
1871
1,000
1869 500 &c.
1877
"so
1870 500 <feo.
1888
1,000
1888
1888
i',6oo
1888
1869
1879
1.881
'ibo
1,000
1,000
1,000
1,000
1,000
1,000
1886
1870
1886
1880 500 Ac.
1885 500 &c.
"i6o
i'di
121
1880
196
196
77
66
66
14
20
100
1885
1,000
1881
1890
1,000
1891
1,000
1891
1877 .506"&0.
1885
1,000
1,000
Newark Somerset tc StraltsvlIIe—Owns from Newark, O., to
O., 44 miles; branch 3 miles. Incased to B. A O. till Nov. 1, 1929
(with right to perpetual renewal at B. A O's option) at 30 V)cr cent of
fross earnings and a minimum rental of $10,000 (interest on debt),
took, common $793,600, aud preferred, $230,900 (par both, $50).
8705,550 of the ilrst and $101,850 of the latter being owned by the
Baltimore & Ohio. Floating debt July 1, 1891, $653,203. In 1890-91
gross earnings, $145,026 ; net, $2,116.
Shawnee,
&
Nevvbiirg Dutchess
Connecticut.—Owns from Dutchess
Jmiction. K. Y., to Millerton, N. Y., 50 mUes.
Reorganized after
foreclosure in January, 1877.
In addition to above incomes
there are $150,000 Ist mortgage 78, due in 1907, $55,000 of 5 per
cent mortgage notes due $10,000 yearly, Jan. 1, 1893, to 1897, and
$10,000 bills payable. In year ending June 30, 1892, gross earnings
were $173,505, against $175,909 in 1890-91 net, $41,128; surplus
over charges, $17,597, against $8,964 in 1890-91. The common
stock is $500,000 and preferred stock $587,450; par $50. John S.
Sohultze, President, 59 Wall Street, N. Y. (V. 53, p. 603; V. 55, p. 3 T 1 .)
New
Castle
New Castle, Pa.,
tc
Beaver Valley.—Owns from Homewood,
Pa., to
15 miles. Leased to Pltttsburg Fort Wayne & Chicago
Railroad for 99 years at a rental of 40 per cent of gross earnings, and
lease assiuned by Pennsylvania Company. Dividends since 1883
have been— in 1884, 19 per cent; in 1885,10 percent; in 1886 and
1887, 6 per cent each in 1888 and 1889, 10 per cent each; in 1890, 11
gercent: in 1891, 3OI2; in 1892, 6 (l^a per cent quarterly). Gross earuigs In 1891, $169,066; net, $59,297; rental received $67,626, against
$108,721 in 1890; loss to lessee, $8,329, against profit of $13,148 in 1890.
;
Haven
Neur
ic Derby.—Owns from New Haven, Conn., to AnBonia, Conn., 13 miles, and extension to the Housatonic Railroad at
Huntington, 4 miles. Leased to the Housatonic for 99 years from
July 9, 1889, the rental being guaranty of Interest on bonds and
funded coupon certificates, and 2 per cent on stock till July,
1892, then 3 per cent till July, 1895, and 4 per cent thereafter.
x>lvldends are paid directly to stockholders in semi-annual instalments
January 10 and July 10. Stock is $447,000; par, 100. In October,
1892, a new lease at same rental for 99 years from July 1, 1892, was
made to the N. Y. N. H. & Hartford, and four shares of New Haven
stock were offered in exchange for thirteen shares of this company's
etock.
(See V. 55, p. 679.)
Neiy
Haven & Northampton.—Operates
from
New Haven,
Conn., to Conway Junction, Mass., 95 miles; branches—To Williamsburg, Mass., New Hartford, Conn., Turner's Falls, Mass., Tariffnlle,
Conn., 32 miles; leases— Holyoke A Westfleld RR.IO miles; total, 137
miles. In June, 1887, leased for 99 years to the New York New Haven
A Hartford at 1 per cent on stock till April, 1890; then 2 till April,
1893; then 3 till April, 189G, and 4 afterward. Interest on bonds is
giarantccd. Earnings are included in the earnings of the le8.see. The
olyoke A Westfleld has paid annual dividends since 1879. Its first
mortgage bonds due April 1, 1911, are guaranteed principal and Interest
by the New Haven A Northampton.
Jersey Junction.—Terminal road through Jersey City,
Hoboken .".nd Wcehawkcn, connecting the trmik lines terminating at
these points
engtli about 5 miles. Leased for 100 years fi-om June
30, 1886, to the New York Central A Hudson River RR. Co., which
guar.antees the bonds absolutely and owns $100,000 stock. The mortgage is for $4,000,000.
Newr Jersey dc
York.—Owns from Erie Junction, N. J., to
earnervil.ft. N. Y., 29 miles branches to New City, etc., 5 miles
opei^
ates to Haverstraw, etc., 14 miles; total operated, 48 miles. Reorganized after foreelosui-e in April, 1880. Stock outstanding. .$1,440,800
common; $788,000 preferred; par, $100. Loans and bills payal)le
were .$43,000 July 1 1 892. Control of road is with preferred stock and
first niortgagc bonds till 6 per cent dividends have been paid on preferred stock for three years. In 1891-92 gross earnings, $304,460; net,
$36,740; interest, $29,000; rentals, $11,400; balance, deficit, $3,060.
In 1890-91 gross $276,609; net, $31,987. (V. 54, p. 441; V. 55, p.
855.)
London Northern.—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles, and leases Brattleboro A Whitehall RR.,
Brattleboro to South lyondonderry, Vt., 37 miles. Lease- Entire line is
leased for 99 years fiom December 1, 1891, to the Consolidated Vermont RR., which assigned the lease to the Central Vermont. The
rental is $210,000 per annum, which leaves a small surplus after providing yearly for interest and 8 per cent dividends. Taxes, assessments,
Improvements and renewals, are met bv the lessee, without claim on the
New London Northern. Quarterly divlilcnds of 2 per cent will be paid.
DiviiJESiis since 1876— In 1877, 6% per cent; from 1878 to 1886, in
OluBlve, 6; in 1887, 6>s; from 1888 to Jan., 1892, inclusive, at rate of
7 per cent per annum. Beginning April 2, 1892, quarterly dividends of
2 per cent will be paid under the lease. The consol mortgage has become a first lien.— (V. 51, p. 241; V. 52, p. 391,761 V. 53, p. 256, 881.)
NewT Orleans &: North Bastern.—New Orleans, La., to Meridian,
Miss., 196 miles. Stock is $5,000,000 (p.ir, $100), of which .$4,320,000
and $4,900,000 1st mortgage l)ond8 are held by the Alabama New Or
leans A Texas Pacific Junction Railway Company— which see.
From July 1, 1892. to Sept. 30, 1892 (3 months), gross earnings were
against $282,709
?320,322, year ending June In 1891 net, $45,000, .against .$.->(;,()00 in
891. In
30, 1892, gross earnings were $1,290,626-
New
;
New
;
;
,
New
;
;
Outstanding
Koad. Bonds Value,
on first page of tables.
I
I
Whom.
Payable
Cent.
$2,000,000 lOporan. Ij.
1.50,000
4
J.
1,418,600 5 per an. M.
<t
J.
A
&
A
Dividend.
New Haven, Ct.,
D,
do
Treaa.
do
July, 1892
June
Sept
1913
1892
1938
2.")0,000
M. <Se
A
1901
800,000
H. <& N. N. y.. Union Trust Co
1929
1,164,.500
I'when earned.
1977
700,000 See text. Q.-J.
Newcastle, Pa.
Oct., 1892
225,000
7
F. A A, Bridgeport, Ct., Office. Feb. 1, 1900
675,000
M. A N, N.Y.JToug.RR.AB'g'pt May 1, 1018
6
71,900
F. A A.
Bridgeport.
6
Feb. 1, 1900
480,000
6
F. A A,
See text.
Feb. 1, liPOO
225,000
6
F. A A.
Bridgeport.
Feb. 1, 1900
2,460,000 See text. A. A O,
Now Haven.
Oct., 1892
1,300,000
7
J. A J, N.nav.,N.Trade8m'8Bk.
Jan., 189'.)
1,200,000
6
A. A O.
Apr. 1, 1009
do
700,000
5
A. A O.
do
Apr. 1, 1911
700,000
5
J. A J.
do
July 1, 1896
260,000
4<S[6 A. A O.
do
Apr.'98A1911
F. A A. N. y. Cent. A Hud. Blv, Feb. 1, 1986
1,700,000
4
400,000
6
M. A N. N. Y., Mercantile Tr. Co. May 1, 1910
100,000
5
J. A J.
do
do
Jan. 1, 1986
120,000
1,500,000 8 per an Q.-J.
New London, OfHoe.
Oct., 1892
1,500,000
4&5 J. A J. N. Y., Bk. of No. Amer. Joly 1, 1910
»«•
13,679.000
1,120,000
5,000,000
1,540,000
200,000
A.
'e'-
(1)
7
5g.
net, $273,443;
A
A
A
A
(»)
A
A
S, Phlla., 226 So. Third 8t.
coupons i)ald.
3.
S. N.Y., L. E.
West. RR.
No
O. N. Y., Central Trust Co.
J. N.Y., Mailer. HchaUACo.
J.
In default.
New York Agency.
O.
1,
1,
2,
Sept. 1,
Nov. 1,
June 1,
July
Nov.
1,
1916
Jan., 1911
Jan. 1, 1940
Oot.,1931
1931
J.
N. Y., Corbln Bank'g Co. Jan.
do
O.
do
Oct.
1,
1,
1897
1935
credits, $3,404), $363,796; balance,
In 1890-91 $1,135,859; net, $2(54,540. (V. 53, p. 289;
interest (less
deficit, $90,353.
V. 55, p. 543.)
New
J.
•^*^-
500,000
883,000
I
J.
^•
7.50,000
Orleans
Sc
North«rcstcrn.—Owns from Natchez,
Miss.,
77 miles. Projected to Little Rock, Ark. Stock,
$4,500,000, par $100. Natchez Construction Company contractors. In August, 1891, receivers were appointed and $270,000
receivers' certificates were authorized for repairs, etc. Solo receiver
is now L. K. Hyde of Titusvlllc.
It Is said the receiver will complete
the road from Rayvllle to Collins on the Mo. Pac, receiver's certificates
having been authorized_therefor.
Neiv OrleanH
Southern.—New Orleans south along the Mississippi River to Bohemia, with a branch, 66 miles in all. Successor to the
New Orleans A Gulf, sold in foreclosure March 5, 1891. See V. 52 ».
391 V. 53, p. 156. Stock, $200,000 par $100.
From January 1 to Sept. 30, 1892 (9 months), gross eamlnga were
$95,773, against $122,974 in 1891; deficit, $5,158, against net of
.$1,844. In 1891 gro.ss earnings were $173,415; net, $8,059, against
$17,432 in 1890. (V. 51, p. 494; V. 52, p. 391; V. 53, p. 156.)
Newport News Sc Mississippi Valley.—This company whlob
is incorporated under the laws of Connecticut, operates under lease
(till 1936) thf Cliesapeake Ohio A Southwestern Railroad from Louisville, Ky., to Memphis, Tenn., and branch, 398 miles.
The C. O. A S. W.
controls the Ohio Valley, Hopkinsville, via Princeton, to Evansvllle,
Ac, 191 miles. The lessee is to pay fixed charges so far as net
earnings sufflce, and any surplus earnings up to 6 per cent going to
the lessor, the excess thereafter to go to lessee. In July, 1892, aline
from Owensboro southeast to Fordsville, 26 miles, was purchased In
the interest of the Chesapeake t)hl<) A 8. W., which see. On July 1,
1892, the company owned $5,608,700 Chesapeake Ohio A Southwestern
common and $3,511,600 preferred stock. On the same date there was
due from the Ches. Ohio A 8. W., as per balance sheet. $1,399,700. In
Feb., 92, the lease and stock of the Elizabethtown Lexington A Big
Sandy were transferred to the Chesa. A Ohio. Central Piielflc owns
$1,680,000 of the stock. Loans and bills payable were $818,435 July
1, 1892.
Offices, No. 23 Broad Street and New Haven, Conn.
to Rayvllle, La.,
paid
in,
&
;
;
Nciv York Brooklyn
Pond Jimction
&
ITIanhattan Beach.— Prom Fresh
to Manhattan Beach, aud branches to Bay Ridge and
Grcenpoint, 20 miles. This was a consolidation August 27, 1885.
Leased for 99 years from May 1, 1882, to the Long Island RR. Co. as
35 jier cent of gross earnings, but the rental guaranteed to be at least
$9.D,9S0 in eacli year; 1st consolidated bonds are endorsed by Long
Island Railroad on application.
Stock is $350,000 common ana
$630,000 non-cumulative preferred (par, $100). Dividends on preferred
from 1886 to 1891, both inclusive, 5 per cent per annum, paid semiannually, April and October, by Long Island Kailroa<l Company. "The
consolidated mortgage of 188.5 is tor $2,000,000; trustee Is Central
Trust Company. In year ending June 30. 1891, rental! was $110,300;
deficit under interest and dividends, $913. (V. 51, p. 494 ; V. 54, p. 1048.)
York
Canada.—Owns from Mniitehall, N. Y., to Rouse's
Point, N. Y., 113 miles; branches to Baldwin, Ausable and Province, 37
miles; total operated, 150 miles.
Leased in peri'etuity and virtually
owned by the Delaware & Hud. Canal Co., which guarantees the bonds,
and has $4,083,546 invested in It. The stock is $4,000,000; par, $100.
For 3 months ending September 30, 1892, surplus over charges was
$30,239, against a deficit of $37,035 in 1891. For year ending June
30, 1892, gross earnings were $954,385, against $1,026,761 in 1890-91
net, $218,528, against $241,411: deficit under charges $92,236, against
$63,828.— (V. 54, p. 289, 888; V. 55, p. 298, 806.)
New
&
yew York
& Hudson
Central
Klver,— CiSee Map.)—Own
New Y'ork City to Butliilo, N. Y., 442 miles; branches on N. Y.
Central division, 377 miles total owned, 81!) miles lines leased— West
Shore RR. and branches, Wcehawkcn to Bufi'alo, 495 miles Troy A
Orcenbush, 6 miles; Spuyten Duy vll A Port Morris, 6 miles New York
A Hiirlem, 130 miles; Now Jersey Junction, 5 miles; Rome Watertown
& Ogdensburg, Suspension Bridge to Massena Springs, and branches
629 miles; Gouvemeur A Oswogatchic RR., Gouvirneur to Edwards,
15 miles; grand total, 3,011 miles. About 300 miles of the New York
Central Division has four tracks. Also operates the Dunkirk Allegheny
Valley A Pittsburg Railroad, 104 miles, reported separately.
In January, 1891, leased the Beech Creek Railroad (which see), 131
miles, not included in above mileage.
Dr. Seward Webb, one of the directors of the N. Y. Onti«l, is President of the Adirondack A St. Lawrence RR., extending from Herkimer
on the Central's main line to Malone on the Central Vermont, a
distance of 178 miles, completed in October, 1892.
It Is understood that the Central will lease the A. A St. L., which will afford It
a through line to the important summer resorts in the Adirondaoks,
and, via 100 miles of conncctiHg road, to Montreal.
See V. 55, p. 255
History,
This company was fonned by a consolidation ol
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 West Shore Railroad was leased In
Dec., 1885, for 475 years. The Rome Watertown A Ogdensburg, which
see, was leased in perpetuity in March. 1891, and the Beech Creek
RR. (which see) in 1890 for 999 years. In 1892 the Federal Government ordered the Central to raise its bridge over the Harlem River 24
feet.
This will necessitate an outlay of between ^,000,000 and
$4,000,000. See V. 54, p. 660.
from
;
;
:
;
Ac—
«4
LNVESTOKS'
SUPPLEMENT.
[Voi^ LV.
—
.
November,
RAILROAD STOCKS AND BONDS.
1892.J
SnbacriberB
wrill
»
9S
confer • sreat faTor by b1t1i>C Immediate notlee of any error dIaeoTered In these Tables,
Bondt—TtiatA
INTEREST OR DIVIDENDS.
pal. When Dosk
Rate per When Where Payable, and by AtoeAM— LMt
of
For explanation of column headlnKs, &e., see notes
Outstanding Cent.
Payable
Dividend.
whom.
Road. Bonds Value.
ou first page of tables.
RAILROADS.
Date
Miles
Ifew Torkd Cauarfa— l8tM.8ter.,guar.D.4H.,Can.o"
Keui York Central (C Hudson lliver Stock
Debt ccrtlflcatcs (N. Y. Ceutiul) see text
N. Y. C. & H., 5 $30,000,000 ) „„„„„„ „- ,.„„ 5
—
mortgage...i £2,000;000 \
Debentures
Debentures for «15,000,000 g.,
oo"Pon or reg.
J
s. f.
OAr
not dr'n..0Ar
OhicMjo St. Lou I.*— Common stock
2d preferred (.5 per cent, uou-cumulatlve)
1st preferred (.5 per cent uon-cuuiulatlve)
iBt mortgage gold, iiiukiug fund uot drawn
o'
K. T. i,Vera(<(7—Bke Manhattan Elevatkd.
«. r. it Greenwood Lake— VrlOT lieu M., $500,000..
If.
T.
if:
Ist and 2d niort., income
W. T. it Harlem—Com. aud pref.stock, 8 p.c.N.Y.C.
Consolidated mortgage, coupon or regifftered. .c*
If. I. Lackawanna it Tl'cs/erii— Stock, guar. 5 p. ct.
1st mortgage, guar, by Delaware Lack. & West.o'
2d mortgage, guar, by Delaware Lack. & West.o*
Temiiual Inipriiv. M., (for .'t!.'),000,000) gu. p. & 1.
Htw York Lake Erie (£ Western Stock, common
Preferred stock, not cumulative
N.Y. & E. 1st M.,FlermouttoDuuklrk,N.Y.,ext.o*
2d mortgage, (extended iu 1879) gold
c*
3d mortgage, (extended in 1883) gold
o*
4tli mortgage, (ext<>nded iu 1880) gold
o*
0*
5tli mortgage (extended in 1888), gold
Erie R'y,l8t M.,Bufi'. Br. Hornellsv. to Attica, g.o*
1st consolidated mortgage, gold, $ & JS
o*
& Huditon
Amount
1874 £100 A<1
$100
1853 500 Ac,
840 1873
1,000
1,000
840 1873
1884-9 1,000*0
1890 l.OOOifcc
100
100
100
513 1887
1,000
150
1892
1,000
1878 100 Ac.
50
l.OOO
1872
100
1880
1,000
1883
1,000
1,000
1890
100
100
1,000
1847
1,000
1879
1853
1,000
1,000
1857
500 &c.
1858
1861 100 &0.
1,000
1870
40
40
151
132
214
200
200
1
—
Neiv York Central
Size, or
Par
of
446
446
446
465
465
60
526
Klver.— (Concluded.)—
000,000
eg.
428,300 See text. Q.-J.
M. <t N.
450,000
5
J. A J.
,000,000
7
733,333
J. A J.
M.& 8.
000,000
500,000
4K- J. A D.
000,000
000,000
000,000 See text
A. A O.
575,000
500,000
5
F.
2,700,000
6
10,000,000 See text. J.
H.
12,000,000
7
10,000,000
per an.
12,000,000
6
J.
5,000,000
5
P.
U.
4,350,000
4
77,427,000
"3'
8,536,600
H.
2,482,000
7
2,149,000
5g. M.
4,617,000
4>ag. H.
A.
2,926,«00
709,500
182,600
16,891,000
J.
J.
7g. H.
A
*
A
A
4
A
A
A
A
A
A
A
A
London, Baring Bros.
N. Y., ar. Cent'l
N. v., Or. Cent'I
do
Depot
do
New York.
None
do
do
1»M
1892
1, 1898
Jan. 1, 1908
Jan. 1, 1908
Sept. 1, 1904
June 1, 190(1
1,
1,
1893
1987
1942
Nov. 30, 1908
N. Y., Gr. Cenfl Depot. July
N.
J.
paid.
1,
15,
Hay
N.Y.jGr'nd Cent.Depot. Hoh.
N. Y., Union Trust Co. Oct.
A,
J.
Hay
Depob Oct
do
do
d*
do
London, Union Bank.
Hay
1,
1.
189«
1900
N. Y., by DeL Laok.4 W. Oct. 2, 1892
do
do
Jan. 1, 1921
do
do
A.
N.
do
do
21 Cortlandt St.
do
do
do
do
do
do
do
O.
do
D.
do
do
J.
do
do
New York and London.
a.
Y.,
N,
S.
S.
Aug.
Hay
1,
1,
1928
1928
Jan. 15, 1893
May
1,
Sept. 1,
Hoh.
1,
1,
1,
July 1,
Sept. 1,
Oct.
June
1897
191»
192S
1920
1928
1921
1920
gross, $3,055,117, against $2,928,844 in 1891; net, $536,972, against
Capital Stock.—The famous scrip dividend of 80 per cent ou the $571,443; Interest, rentals aud taxes, $518,432, against $507,887;
capital stock of the New York Central was made In December, 1868, balance, surplus, $18,540, against $63,556. (V. 55, p. 298.)
Annual Report.— Report for year 1891 was In Curokiclk, V. 54, p.
and on the consolidation with the Hud.son River Road (November 1,
1869,) a further dividend of 27 per cent was distributed on the New 885.
1888
1889
1890
1891
York Central stock and 85 per cent ou the Hudson River stock.
Gross earnings
$4,918,217 $.5,090,329 $5,820,306 $6,171,089
Dividends.— From 1869 to 1884, inclusive, 8 per cent per annum; in Oper. expen.* taxes. 4,113,824 4,003,544 4,678,251
5,056,082
1885,31a per cent. From 1886 to 1889, inclusive, 4 yearly; in 1890,
4»a; in 1891, 4ia; iu 1892, January, lia; April, IH; July 1»4; October,
Netearnings
$804,393 $1,086,785 $1,142,054 $1,115,006
(quailerly.)
Net ,inc. other Income $810,813 $1,092,175 $1,154,828 $1,128,574
Pkice of Stock.— In 1880, 122®155%; in 1881, 130>4®155; In 1882, Interest paid
$778,240
$791,680
$784,570
$780,422
12308a>138; in 1883, llH2®129i8; in 1884, 83is»122; in 1885, 81%® Rentals
81,416
81,139
87,685
90,551
IO7J4; in 1886, 98%®11738; in 1887, 101%<2>114!>8; In 1888, 102i2®lll; Sinking fund
100,000
99,954
93,748
99,940
In 1889, iOi-'s'a'UO^: in 1890, 9514-Slll; in 1891, GSJaaiig^; in Dlv. on 1st prof
175,000
150,000
m
1892, to Nov. 18 Inclusive, 107ie®119i4.
Bonds.— Under the lease of the West Shore RR. $50,000,000 of 4 per
cents were guaranteed aud $10,000,000 West Shore stock taken as cou
sideration. Four per cent per annum is guaranteed on the stock and
bonds of the Beech Greek— see that company aud in 1891 the debt of
the Rome Watertown & Ogdensburg was assumed, under the lease,
and 5 per cent yearly guaranteed on its stock— see that company.
Gouverneur & Oswegatehie bonds for $3(X),000 are also guaranteed.
Of the $11,000,000 5 per cent debentures due 1904, $1,000,000 registered bonds, dated in 1889, have no mortgage privilege, but have a
stock conversion privilege, while debentures of 1884 have not.
In June, 1890, $15,000,(K)0 debenture 4 per ceuts were authorized
for improvements. They are t« be included in any uew mortgage, and
have a sinking fund of $300,000 yearly— no drawings.
The debt certiHeates due May 1. 1893, are to be extended for twelve
years at 4 per cent, interest and principal to lie payable in gold.
Present holders desiring to have their ccrtitleates no extended must
deposit them either with the company or Drexcl, Slorgan <fe Co., prior
to Jan. 1, 1893; otherwise they will be i>aid off and ro-issued.
General Finances.— The fiscal years ended with SeiHember 30 till
1889 inclusive, and since then with June 30. In May, 1892, an additional issue of $3,000,000 of 4per cent debentures was made, making
total outstauding $11,500,000.
Latest Earnings. The statement of earnings, etc., for the quarter
ending September 30, 1892, Is as follows. See vol. 55, p. 857.
1892.
Actual. 1891.
Gross earnings
$12,066,595
$11,887,987 39
Netearnings
3,668,075
4,2.30,984 60
Firstcharges
2,460,929 38
2,508,219
—
—
Profit
(l-97p. c)$l,764,055 22
(1-30)$1,159,85.'3
Annual RErOKT.—Fiscal year ends June 30. Report for 1891-92
was in V. 55, p. 439, 459. The figures below Include the Rome
Watertown & Ogdensburg after March 15, 1891.
Oper.exp.,includ. taxes...
$37,008,403
24,492,130
1890-91
$37,902,114
25,370,852
$45,478,625
31,139,113
Netearnings
$12,516,274
1889-90.
Gross earnings
1891-92.
$12,531,262
$14,339,512
(66-18)
(66-94)
)68-47)
Eeb. State t'x prior y'rs
111,030
88,740
77,351
Total net income....
Rentals paid
Interest on debt
$12,627,304
$4,053,393
3,590,535
209,884
$12,620,002
$4,452,100
3,854,968
274,896
300,000
$14,416,863
4,024,273
(4)3,577,132
P.
c.
of oper. exp. to earns.
Taxes on eam.&cap.st'k
Reserved for deb'tures.
Dividends
Hlsoellaneous
(4is)
72,222
$5,.103,704
3,987.818
214,359
300,000
(5)4,471,415
6,245
$14,283,541
sur.$133,322
p. 203, 463, 534, 643, 796; V. 53, p. 6, 22, 4.54, 518, 604, 673.
V. 54, p. 34, 243. 486, 560, 845, 889; V. 55, p. 6, 21, 255, 439, 458,
544, 639, 765, 810, 857.)
York Chicaso
St. Ijonlm.—(See Map of Neto York Central it Hud»on River.)— Ovraa from Buffalo, N. Y., to Illinois State Line,
512 miles ; leases in Buffalo, l^a miles; Illinois State Line to Chicago, 9
miles: total, 523 miles.
Total disbursements.
Balance
—(V. 52,
New
$11,878,085
8ur.$749,319
$12,531,318
sur.$88,684
A
HiSTOKY.— The former Railway Company was formed in 1881 and
became known as the " Nickel Plate." Sale in foreclosure took place
May 19, 1887, and the present company was formed in September 1887.
Stock.- Lake Shore & Michigan Southeni owns $(>, 240,000 common,
$6,275,000 2d preferred and $2,503,000 1st preferre<l stock.
Dividends.— On first preferrrcd: In 1891, March, 312 per cent; in 1892,
March, 3 per cent.
Bonds.- A sinking fund of $100,000 per year is provided when net
earnings are $900,000 or upwards, if bonds can be nought at or below
102; if not, the smkmg fund lai)se,>! for that year, thus leaving $100,000
more for dividends. The original issue of bonds was $20,000,000, and
Jt has been reduced to present amount by the sinking fund purchases.
See abstract of mortgage (Central Trust Company of New York, trustee),
V. 45, p. 541.
Latest Earnings.— From January 1 to June 30, 1892
(6
months)
Total
$972,773 $1,141,002 $1,120,918
$959,656
Balance
df.$148,843 sr.$119,402 sur.$13,826 sur.$7,6eT
-(V. 52, p. 203, 280, 760, 796; V. 53, p. 714; V. 54, p. 329, 800, 88S.)
Ne«r York
Greentvood I.ake,—Owns from Jersey City, N. J.
to Greenwood Lake, 48 miles, aud branch to Ringwood, 2 miles; operates WatchungRy., Woodsldo to Orange, N. J., 4 miles, aud the Cald
well Ry.. 5 miles; total, 59 miles. The New York Lake Erie & Western
and Cooj)er, Hewitt* Co. control the property. In May, 1892, the prior
lien mortgage was filed, aud $500,000 bonds were Issued to pay
fioating debt aud provide for ©(lulpmeut. Provision is made in the
mortgage for securing the control of the Watchung andfthe Caldwell
railways, and for an additional issue of $1,000,000 bonds to be used
for the purpose of retiring tlie outstandiug first mortgage incomes
"whenever the roa<l*s earnings justify this increase In fixed charges.*''
The holders of the second mortgage of $1,800,000 have the right to
pay off the first mortgage Incomes of $900,000 at 103. Stock, $100,000; par $100. Gross earnings in 1891. $302,634; net. $13,481; interest, .'}>13,839; loss on Watchung RR., $1,882; interest on advances for
State taxes, an accumuUvtion of 12 years, charged off, $24,711; surplua
for year. $1,019. In 1890. gross, $224,466; net, $9,514. Abram 8.
Hewitt, President. (V. 50, p. 8 73.)
Nenr York
Harlem.—Owns from New York City to Chatham
N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston A
Albany Railroad is used. This company owns the P^ourth Avenue street
railroad. The propert.v (except the horse railroad) was leased April 1,
1873, for 401 years to the N. Y. Cent. & Hudson at 8 per cent dividends
on the stock and the interest on the bonds. The preferred stock Is
$1,301,350; balance, common. Both stocks in addition to the 8 per
cent guaranteed by the N. Y. Central have received dividends out of
the earnings of the Fourth Avenue horse railroad, annually in April, as
follows: From 1882 to 1889. inclusive, 2 per cent yearly; in 1890,
1891 and 1892, 2^8 per cent. All operations included iu New York Central & Hudson. (V. 51, p. 494; V. 33, p. 372.)
York Laekawanna
Western.—C5«« Map of Delaxear*
Larkawanna <t Western. )—Frotu Biughamton to Buffalo and International Bridge and branches, 214 miles; Delaware Lackawanna <t Western bus a lease for 99 years, giving a guarauty of the bonds and 5 per
cent yearly on the stock, the guarauty beiuK endorsed ou the bonds and
stock certificates. Due the lessee July 1, 189-2, $092,866. In first 8
months of 1892 gross, $3,688,194. against $3,549,365 iu 1891; net,
$1,593,587, against $1,606,356 iu 1891.
York I^akc Erie Sc lYestern.—Main line Jersey City t»
Dunkirk, N. Y., 460 miles, with branches 643 miles; total 1,102 miles.
Owns Fiermont, N. Y., to Dunkirk, 446 miles; branches Newburg to
Greycourt, 19 miles; Buffalo Br., Hornellsville to Attica, N.Y., 61 miles;
Newb. & N. Y. RR., Vails Gate Junction to Arden Junction, 13 miles;
small lines (stock owned), 2 miles; total owned, 551 miles. Leases
Jersey City to Suffems. N. Y. (several small roads). 31 miles; Jefferson
Railroad. 45 miles; Buffalo Bradford & Pittsburg, 26 miles; Buffalo
New York & Erie, 140 miles; Suspension Bridge <fc Erie Junction, 24
miles; Rochester* Genesee Valley, 18 miles; Avon Oeneseo & Mount
Morris, 18 miles; Buffalo <fe Southwestern, 66 miles; Northern of New
Jersey, 26 miles; N. Y. L. E. A W. C. & RR., 31 miles: other small Unes,
125 miles; total leased, 551 miles; total New York Lake Erie & Western,
1.102 miles. Also leases New York Pennsylvania * Ohio and branches,
596 miles, and owns the entire stock of the Chicago * Erie, running from
Marion. O.. to Hammond. Ind., 249 miles, and leasing trackage over
the Chicago & Western Indiana, 19 miles, to Chicago.
History, Leases, &c.— The New York A Erie Railroad was chartered
April 24, 1832, and opened to Dunkirk April 22, 1851. Reorganized
as Erie Railway Company In 1861, and sokl imder the second cousoli
dated mortgiige in 1878: reorganized as at present June 1, 1878.
The Ix)ng Dock Comp'y has stock of $800,000. all owned by the New
York Lake Erie A Western; Its property consists of lands and lands under
water, about 577 acres, with piers, buildings, &o. The New York Lake
Erie & Western Coal & Railroad Compi.uy is an auxiliary corporation
from wliieh advances of ,$1,387,070 are due, as per b.alance sheet of
June 30, 1892; in August, 1890, $3,000,000 of Its bonds were guaranteed principal and interest (by endorsement on bonds), the property
being leased till July 1, 1925, at a rental equal to that interest See v.
51, p. 752. and description of property in V. 52, p. 642.
In the reorganization of the Chicago & Atlantic (now Chicago A Erie),
there were Issued $12,000,000 4-5 per cent 1st mortgage bonds. Interest
&
&
New
A
New
—
:
.
.
96
INVESTORS' SUPPLEMENT.
Subscribers
Mrlll
confer a great favor by giving Immediate notice of any error discovered In these Tables.
BAILROAUS.
For explanation
of
on
column headings,
&o., sec notes
Miles
of
Date
Par
INTEREST OR DIVIDENDS.
Sire, or
of
Amount
When
Outstanding Rate per Payable Wliere Payable, and by
Cent.
Wliom
Road. Bonds Value.
i>ago of tables.
flret
Vol. LV.
iionds— Prinoi
pal, When Due,
S/ocA-«— Last
Dividend.
—
Ktv) Tofk Lake Erie it Western (Conlmucd.)—
N. Y. L. E. & West, funded coupon bonds, gold.c*
let lien mort., gold, sink, fund (not drawn) .c*
2d eonsolidatcd and funded coupon bonds, g..c*
Collateral trust bonds, s. f. drawn at 110, g..c*
c*
Funded coupon bonds, gold (red. at 105)
Income bonds (non-cumulative)
Car trust bonds, scr. C. to G. incl., partpd. ann.o*
.
.
526
531
N. v. Car trust, 1888,
Long Dock
—
do
do
Ciirtis's
12
40
113
1892
1888
1863
1885
1868
1882
1883
1,000
1,000
1,000
1,000
1,000
1875
(»)
1,000
321,200
500,000
3,000,000
4,500,000
250,000
1,100,000
4,000,000
i',6bo
100
321
321
Wharf
1876
1882
1892
1889
1,000
1,000
1,000
(»)
1,386,000
60,000
80,000
200,000
411,000
1888
Co. 1st M., gold (see text).c
1890
1,000
«n which
is guaranteed, Eric receiving
for debts due and In
consideration of guarantee $2,000,000 of these Ists, $5,000,000 inall the $100,000 stock.
.See Chronicle, V. 50, p. 621, 752:
V. 51, p. 911. Road was turned over to Erie on September 1, 1890.
Capital Stock. Preferred stock has a prior right to 6 per cent
Son-cumulative) from the net profits, " as declared by the board of
rectors," but the U. S. Supreme Court held in 1886 that this stock has
no legal right to claim a dividend, though net earnings are sufficient.
DniDENDS on preferred stock from 1882 to 1884, 6 per cent—none
afterwards till Jan. 15, 1892, when 3 per cent was paid.
Price of Stock.— Common in 1884, lli6®2838 in 1885, 914^27%; In
1886, 22i2®3838; In 1887, 24i3®35=8; in 1888, 2238®30%; in 1889,
2538®30''e; in 1890, 16®29ia; in 1891, 17ia®34>2! in 1892, to Nov. 18,
Inclusive, 24%®34S!i.
Preferred stock— In 1884, 20S71 in 1885, 18®57 ; in 1886, 50>s®
SlJfl; in 1887, 59®76; in 1888, 52i2®67ia; in 1889, 61371%; In 1890,
46®69i2; in 1891, 47i2®77%; in 1892, to Nov. 18, inclusive, 61®77i2.
Bonds.—The first lien bonds of 1878 have a sinking fuud of $100,000
yearly and might be called for payment, but the company '* has decided
that redemption shall be by purchase only."
The first consolidated f\mded coupon bonds are secured by lien of consolidated mortgage. On the second consolidated mortgage (Farmers'
Loan & Trust Company, trustee) no foreclosure can take place till six
Bucoessive coupons are in default, but all of one coupon must be paid
before any part of a sul)sequcnt coupon is mid. In 1883 the coUaferal
trust bonds were issued (the United States Trust Company, trustee see
V. 38, p. 509), redeemable at 110 on three months' notice. The second
oonsoudated funded coupon bonds of 1885 were issued to fund three
past-due coupons and the coupon of June, 1886, the coupons being deposited as security. These bonds are redeemable at any time at 105 and
accrued Interest. The Long Dock mortgage for $7,500,000 was issued
1885 ($3,000,000 being reserved to meet the old l)onds), and the
bonds are redeemable any time at 110, but from land sales only.
In November, 1892, it was reported (without official confirmation)
that a new collateral trust for $10,000,0<W of 5 per cents was to be
created for fundiug, etc., purposes. V. 55, p. 857.
On July 1, 1891, the new car trusts amounted to $1,059,071, and the
new engine trust to $523,42.5— aU of which will be paid previous to 1898.
In July, 1892, the equipment mortgage for $321,200 was executed.
The N. \. L. E. & W. Coal & RR. Company's bonds were described in
V. 52, p. 64i. See also above under " Organization, Leases, etc."
Eaknings, Finances, Etc.— In December, 1891, a dividend of 3 per
cent was declarea on the preferred stock, the first since 1884. On
June 30, 1892, loans an i bills payable were $4,270,823.
For the first nine months and the first eleven months of the fiscal year
the results were as follows, the nine months being as reported to the
N. Y. State RR. Commissioners
comes and
—
;
;
;
m
^Omos.end. June
1890-91.
30.-N
1891-92.
/-llmos.cnd. Au'r.31.-^
1890-91.
1891-92.
Gross earnings
Net earnings
$21,390,721 $22,992,934 $27,155,382 $28,455,095
7,510,765
7,675,148
9,419,070
9,172,373
Prop'nduel'sed lines. 1,862,987
1,925,890
2,388,788
2,399,823
Balance
Other Income
Total
Deduct int.,taxes,&c
$5,647,778 $5,749,258 $7,030,282
770,904
751,042
$6,418,682
5,814,824
6,500,300
5,897,537
$603,858
$6,772,550
~.
$606,663
Balanoe
Annual Report.— Fiscal year ends September 30. Annual meeting
held on last Tuesday in November. The annual report for the year
1890-91 was published
the Chronicle, V. 53, p. 792, 794, &c. The
gross earnings include the N. Y. Penn. & Ohio ajid all the leased lines.
1888-89.
1889-90.
1890-91.
_
Total gross earnings
$27,004,406 $29,068,935 $30,090,699
Proportion paid leased lines
2,409,133
2,614,101
2,587,066
iB
m
Leaving as gross revenue
Total operating expenses
$24,595,273 $26,454,834 $27,503,633
17,854,425 19,505,951 20,243,936
Keteamlngs
$6,740,848 $6,948,883
66-1167
S7-1024
profit and loss statement.
1888-89.
1889-90.
Wet earnings
$6,740,848
$6,948,883
Pavonia ferries earnings
343,758
360,557
Interest on securities
432,656
454,589
Other credit items
300,090
274,870
P.
0.
oper. exp. to total gross eam's.
Total credits
$7,817,352
Pavonia ferries—expenses.. . . $269,930
Interest on funded debt
4,706,836
Weehawken docks—interest.
Interest on loans
Interest on mortgages,
Interest on equipment
Bentala of leased lines
.
<feo...
55,245
40,484
6,410
314,563
1,206,055
$8,038,899
$341,627
4,693,021
55,245
164,750
6,787
319,488
1,220,884
$7,259,697
67-2763
1890-91.
$7,259,697
385,094
385,641
269,298
M.
6g. M.
&
&
&
&
&
&
New York and
S.
London, Sept.
1,
1920
N.
do
do
Dec. 1, 1908
D. N. Y., Drexel, Morgan. Deo. 1, 1969
J.
N.I N. Y., 21 Cortlandt St. Nov. 1, 1922
?8- M.
J.
D.l
do
do
Dec. 1, 1969
T>. Paid 6 P.O. Jan. 15, 1892 June 1, 1977
J.
Various N. Y., 21 Cortlandt St. 1900, '02, '05
5
do
do
By Aug., 1898
(»)
J. & J.
5
do
do
$63,000 Jan. 1
7
J. & D.
do
do
June 1, 1893
A. & O. N. Y., Drexel, Morgan. Oct. 1, 1935
J. & J. N. Y., 21 Cortlandt St. Jan. 1, 1929
M. & N.
do
6
do
May 1, 1922
6
J. & J.
do
do
July 1, 1913
%'
V-
1,014,000
24,000
F.
19,781,000
3,665,000 See text. M.
10,000,000
6&7 J.
F.
5,000,000
6
100
100
Due on purchase Piper's Wharf
New England Equip.
$3,705,977
2,500,000
33,597,400
3,344,000
4,031,400
508,008
1,000
Equipment mortgage
scr. A. (guar, by D. & H.) .
Co. 1st mortgage, int. guaranteed... o*
mort., g., red. at 110 fi'om land sales. c*
Cousol.
Hewburg & N. Y. Ist mort., extended in 1889. -c*
N. Y. L. E. & W. Coal &RR. 1st M. gu., endorsed. c*
c*
N. Y. L. E. <& W. Dock & Imp. Co. 1st mort
IT. r. d: Long Branch^HtuV. Central of N. J.
N. T. it Massachxiselta Stock
Ist mortgage
jr. r. rf A"..E)ia;a)ic?— Stook(.f;20,000,000authorlz'd)
Preferred stock, 7 per cent cimiiUative
1st mortgage (ifO.OOO.OOO are 78)
2d M.,part scaled (.$998,000 were Ss till Feh.,'92)
Consolidated mortgage tor $25,000,000, gold
c*
Boston Teimiiial 1st mortgage
Beal estate mortgage note
1878 $500&c.
1878
1,000
1878 500 &c.
1882
1,000
1885
1.000
1878 300 &c.
& A.
& N.
& J.
& A.
J. & D.
I'- A. & O.
413
F. & A.
A. & O.
5
5I2
Mt'hly.
6g. F. & A.
Aug.
1,
1905
Boston,Of.,244Fed'lSt. Nov. 2, 1891
Boston,S.Dcp.&Tr.Co. Jan. 1, 1906
Boston, 180 Sumner St. Aug. 1, 1902
June
Boston, 180 Sumner St.
Lowell Inst, for Savings
Boston.
do
do
Boston.OldColonyTr.Co
Apr.
1,
1,
1942
1939
(»)
Oct.
Mch.
1,
1,
1893
1893
Aug., "93 to '97
PROFIT AND loss STATEMENT- (CONCLUDED.)
1888-89.
1889-90.
$91,802
100,244
251,008
$119,875
55,692
201,275
Taxes
Claims of prior years
Other debit items
1890-91
$120,239
51,955
156,610
Total debits
$7,042,576
$7,178,644
$7,294,352
Balance, surplus
$774,776
$860.2.54
$1,005,378
-(V. 52, p. 280, 390, 642, 681, 762 V. 53, p. 187, 754, 778, 92, 793,
T94 V. 54, p. 288, 761, 846; V. 55, p. 161, 337.)
York ic
England.—Owns from Boston, Mass., to
Hopewell Junction, N. Y., 215miles, (and thence has trackage via the
Newburg Dutchess & Connecticut to a connection with the New York
Central & Hudson River Railroad at Fishkill, 11 miles) Providence, K.
I., to Willimantlc, Conn., 58 miles; branches, Woousocket, R. I., to
Springfield, Mas.s.. etc., 87 miles total owned, 360 miles, of which 110
miles are doiil)lo track. Leases— Franklin to Valley Falls, 14 miles; Ver
nonto Roekville, 4 miles; Franklin to Ashland, 20 miles; Norwich &Wor
cester RR. (which see), 66 miles Providence & Springfield (which see),
21 miles, and Woon.socket & Pascoag, 10 miles total leased, 136 miles;
also has running arrangements over 11 miles more. Total operated,
508 miles. From Norwich to London, 14 miles, its trains are hauled by
the New London No. RR. Co.
Controls Norwich & Now York Steamer
line. The Mcriden Waterbury ife Connecticut was purchased in February, 1892, by parties interested in the New York & New England, and
was to be leased for 99 years from Sept. 1,1892, but the courts have
been asked bylcertain stockholders to interfere. V. 55, p. 806. The road
extends from Waterbury to CromweU, Conn. 28 miles. V. 54, p. 36'7, 648.
The Housatonio RR. theretofore controlled in the interest of this company passed into control of N. Y. N. H. & Hart, parties in June, 1892.
Organization.— Successor in 1873 to the Boston Hartford & Erie
Railroad, which became insolvent. From January 1, 1884, to January
Change of manage1, 1886, the road was In the hands of a receiver.
ment in 1892.
In October, 1892, Philadelphia & Reading parties bought a large
interest in the stock. It is jiroposed to use the road to connect the
Reading and the Boston & Maine syetems, both of which are largely
held in the same interest. See V. 55, p. 704, 723.
Capital Stock.-The preferred stock is 7 per cent cumulative, but
without interest. In 1892, $365,000 preferred stock was sold. As to
voting trust, see above.
Dividends.— On preferred stock from 1886, when issued, to Nov.,
1891, both Inclusive, were 7 per cent yearly In 1892 a dividend of £^
per cent was declared payable May 2, but its payment is temporarily
enjoined. V. 54, p. 964.
Price of Common Stock.— In 1883, 17^'S>52M in 1884, 8'S>17H in
1885, 1252®39%; in 1886, 30ia®6858; in 1887, 34%®66; In 1888, 29'^
85314; in 1889. 41i8®53i8: in 1890, 2835214; in 1891, 31®43; in
1892 to Nov. 18 Inclusive, 30''8®59.
Bonds.— Stock is reserved for $219,000 convertible Boston Hartford
6 Erie Berdell bonds. Of the 2d mortgage bonds $998,000 bore 5 per
cent interest to Feb. 1892— for balance of term they be»r 6 percent.
There werealso July 1,1892, notes payable, $333,115. See V. 55, p. 256.
Company guarantees certain securities of the Providence & Springfield, Norwich & Worcester, Woonsocket & Pascoag, etc.
In March, 1892, the stockholders voted to issue a consolidated mortgage. There is some opposition thereto, and the question of its legality
See V. 54, p. 443, 721, 800, 1047; V. 55, p. 177, 256, 331,
is pending.
504, 639, 723.
The New England Equipment Company's bonds are not guaranteed,
but were secured by a first lien on certain equipment costing $485,000,
used by this company, and by $460,000 notes of the N. Y. & New England RR. Co. The bonds mature as follows: From Aug. 1, 1892, to Aug.
1, 1894, $25,000 yearly; Aug. 1, 1895 and 1896, $100,000 yearly; Aug.
1, 1897, $160,000.
Earnings.— From Jan. 1 to Jame 30, 1892 (6 months), gross $2,906,004, again.st .$2,918,416 in 1891; net, $636,652, against $889,068; interest, rentals and taxes, $929,155, against $9()9,673; balance deV. 55, p. 357.
ficit, $292,498, against $20,605 in 1891.
Annual Report.— Fiscal year ends Dec. 31. Annual meeting is held
in Boston on second Tuesday in March. Annual report for 1891 in V.
54, p. 442. Figures for 1891-92 below are for year ending June 30,
from reports to N. Y. State RR. Commissioners:
1891-92
1890
1891.
$6,029,i25 $6,229,030 $6,216,617
Total gross eammgs
earnings
$2,007,857 $1,915,684 $1,664,175
Net
9,301
7,204
6,295
Other receipts
;
'.
:
New
New
;
;
;
,
i
;
Totallncome
$2,017,1.58 $1,922,888 $1,670,470
$475,477
Rentals paid
$410,793
$460,240
1,120,296
1,043,384
1,116,0.56
$8,299,730 Interest, etc
264,764
264,765
283,800
$323,962 Taxes
210,000
243,775
189,000
4,688,880 7 p. c. dlv. on pref stock
18,415
Total disburscmentB
$1,926,977 $2,051,000 $2,104,313
114,592
$90,187 def.$l28,172 df.$433,843
7,175 Balanoe, surplus
294,438
(V 53, p. 224, 714; V. 54, p. 78, 367. 448, 721. 800, 964, 1048; V. 55,
1,518,086 p. 21, 106, 177, 256, 331, 337, 373, 419, 504, 639, 704, 723, 806.
.
—
NoyiMBBR, 1%3.
RAILROAD STOCKS AND BONDS.
•7
c
98
.
INYESTORS' SUPPLEMENT.
[Vol. LV.
Sabacrlbers \rin confer a great favor by giving Immediate notice of any error discovered In tbeae Tables.
EAILKOAD8.
Miles
For explanation of column headings,
on llrst page of table.
&o., see notes
of
Koad. Bonds Value
York Xeic Bwoen <t Hartford— Btook
mortgage (for $5,000,000)
r
& Boston IstM., Prov. to Ston'gton.o*
Ist mortgage (Stoniugton to New London)
c*
General mortgage tor $4,000,000, gold
cAr
INTEREST OR DIVIDENDS
When Where payable, and by
Payable
Whom.
Date
of
1
Outstanding
1st
c&r
1st mortgage, gold.
c
2d mortgage, gold (was Income till Dec, 1891)..
June
1892
1903
1899
do
do
1901
do
do
1942
N. Y., Chem'al Nat. Bk. Oct., 1903
do
do
June 1, 1911
57
57
ir<w(.— Stock ($6,000 is old pref.)
eonsol. mortgage, gold, red. at 105 in '99
c'
Refunding mortgage for $20,000,000, gold...o*&r
Wharton Valley RR. 1st M., guar. pAi
320
320
7
Ist mort. guar.Ctbr
Oct.
N. Y., Chem'al Nat. Bk.
N. Y., Central Trust Co.
123
50
12
62
12
12
Harlem & Portchester, leased,
2d mortgage, guaranteed
—
New Haven, Co.'s Office.
Ifeui
K. Y. Prov.
BoH(J»— Prinoi
Due,
Stocks Last
Dividend.
pal,\V'heii
Jan.
Apr.
Apr.
I
Northern— Common stock
Jfew York
Preferred stock, 5 percent non-cum
2,
1,
1,
1,
1,
<£•
jr.
T. Onl.
N. Y., Oflice, 32 Nassau
Oct.
In default.
Dec.
1,
1,
1927
1927
<t
& London. June 1, 1939
New York City.
June 1, 1992
New York Office.
1918
N. Y. Office
r. it Oswego Midland— SKE N. Y. Ont. & WE8TE RN.
Fenn. <£ Ohio Common stock
Preferred stock
Prior lien mortgage, gold, $ A £
c*
437
1st mort. gold, $ & S,
437
c*
2d mortgage, incomes, gold, $ & *
437
o*
3d mortgage, incomes, gold. $ & *
c*
437
Equip, trust bonds, sink, fund 3 p. c.(dr'n at 100)
Equip, trust bonds, siuk. fund 3 p. o.(dr'n at 100)
Deferred int. warrants, conv. into Ist M. bonds..
New Castle & Shenango Valley, 1st M., Int. guar.
17
Sharon (leased) Ist mortgage, gold
c
15
J\r.
—
yew York
N.Y., Farm. L. &Tr.Co.
London.
.
None
None
paid.
paid.
Ixjndon.
do
N.Y.,Farm.
do
L.
Mch.
JiUy
1895
1905
1910
May, 1915
May 1, 1908
Jime 1, 1910
May
ATr.Co. July
do
June
1,
1,
1,
1,
1,
1917
1919
New
Tf orli Neiv Haven &. Hartford.— Owns from Woodlawn, that the second mortgage 4 per cent bonds be exchanged for a 5 per
N. Y., to Springfield, Mass., 122 miles branches to New Britain, Middle- cent first preferred stock at par for the iiriucipal and one year's interNew Canann, etc., 27 miles; total owned, 149 miles; leases, and est, dollar for dollar, and the mortgage canceled. The present preferred
owns practically the entire capital stock of, the New York Providence "took to he exchanged for second preferred stock. The first mortgage
ft Boston, which owns from Providence, K. I., to New London, Conn,
will not be disturbed. To meet the fioating debt it is suggested that 5
(including the Thames River bridge), 62 miles; and branches. 18 miles; per cent debentures maturing in five years be issued.
If the plan is
leases Pawtuxet brancli road, 6 miles; Providence & Worcester RR. not accepted, foreclosure of the 2d mortgage is recommended. For ex<whlch see). Providence to Worcester and liranches, 50 miles; Shore Line tensions, improvements and retiring at maturity all other indebtedness,
Bailroad, 48 miles
Boston & New York Air Line and branch, 55 it is thought later a consol. mortgage will be issued. See V. 54, p. 405.
miles; New Haven & Northampton Railroad, New Haven, Conn., to In July, 1892, a majority of the seconds had assented to the terms of
Conway Junction, Mass., and branches, 137 miles; Naugatuck Railroad, exchange— see V. 54, p. 721.
Naugatuck Junction to Wiusted, Conn., and branch, 61 miles Hartford
Latest Earnings.- From July 1, 1892, to
& Connecticut Valley, Hartford to Fenwiok, Conn., 46 miles; Harlem gross $173,990, against $148,597 in 1891; netSept. 30, 1892 (3 months),
$43,133, against $4 0,7 61
Kiver & Port Chester, 11 miles; total July, 1892, 644 miles, of which
Annual Report.— Fiscal year ends June 30. Report for 1891-92 in
22 miles had four tracks. Since acquired Housatonic Railway, New
V. 55, p. 000, showed gross earnings $521,216; net, $83,623; deficit
Haven & Derby, etc., 190 miles.
under interest, rentals and taxes, $67,974; paid construction account,
History.— A consolidation in 1872 of the New York & New $21,535. In 1890-91, $483,427; net, $90,417. (V. 53, p. 224; V. 53, p.
Haven and the New Haven & Hartford. The company uses the 041, 7S2; V. 54, p. 204, 243, 405, 721; V. 55, p. 147, 374, 764, 803,
New York & Harlem Railroad from Willlamsbridee into New York 806.)
City and pays rental thirefor. The New York Providence & Boston
&. Wentern.—(See Map.)—Owns Oswego,
was leased from April 1, 1892, its stock exchanged for New Haven N.Newr York Ontario272 miles;
Y., to Cornwall, N. Y.,
branches to New Berlin, 22 miles
stock, and all its liabilities assumed. See V. 54, p. 721, 887. The
to Delhi, 17 miles to Ellen vlUe, 8 miles total owned, 319 miles leases
Providence Company owns a majority interest in the Providence & Kandallsville
to Utica, 32 miles, and Clinton to Rome, 12 miles (in perBtonington Steamship Lino, with capital of $2,000,000.
In October, 1892, the Housatonic Railway, the New Haven & Derby petuity) Ontario Carbondale & Scranton Railway, Hancock, N. Y., to
and the Danbury & Norwalk were leased and their stock offered an Scrauton, Pa., 54 miles; Wharton Valley Railroad to Edmeston, 7 miles.
exchange for stock of the New Haven company on certain terms. See By contract has right over West Shore Railroad from Cornwall to Weeeach company and V. 55, p. 501. Also see V. 55, p. 463. A controlling hawken, 53 miles, by payment of trackage total operate<l, 477 miles.
Organization.-The New York & Oswego Midland was sold in foreinterest in the stock of the Rhode Isl. <t Mass. has also been acquired,
closure November 14, 1879. and this company organized. As to agreebut this road is leased to the N. Y. & New England. V. 54, p. 984.
ment in 1891 with N. Y. Central, see V. 52, p. 609. All the securities o f
Capital Stock.—Stock authorized, $50,500,000. It may be issued for the Ontario Carbondale & Scranton Ry. are owned and pledged under
Improvements, buying stocks and bonds of leased roads, &c. On the mortgages.
October 1, 1891, issued 46,750 shares at par to the stockholders.
Capital Stock.- Stock Is $58,119,982 (par $100), of which $6,000 is
The proceeds were applied in part to the four-tracking of the New
York Division. On Jiine 1, 1892, $5,000,000 of stock, making the old preferred.
Price of Stock.— In 1885, 69t®2078; inl886, 15®2238; inl887, 1458®
total outstanding $28,375,000, was issued to retire the stock of the
N. Y. Providence & Boston. In October, 1892, $799,000 was to be 2OI3; lnl888, 14®19; in 1889, 14i3®22''e in 1890, 13®22%; in 1891,
issued to retire the stock of the Housatonic, New Haven & Derby and 14®2338; in 1892 to Nov. 18 inclusive, 17i2®23i8.
Bonds.—The first mortgage 68 were paid off at 110 on September 1,
Danbury & Norwalk railroads. (V. 55, n. 501, 810.)
DrviDENDS of 10 per cent paid regularly since consolidation in 1872. 1892. See V. 54. p. 721.
For consolidated mortgage of 1889 sec abstract V. 49, p. 238.
Price of Stock— In 1885, 175®204; in 1886, 204i3®223; in 1887, 208
On April 20, 1892, stockliolders voted to issue a refunding mortgage to
®233; in 1888. 215®244; in 1889, 241®279; in 1890, 244ia®270 in secure $20,000,000 of 4 per cent 100-vear gold bonds of whicli $5,500,1891. 224i3®271 in 1892, toNov. 18 Inclusive 224®252.
OOOto retire the $4,000,000 sixes (paid Sept. 1, '92), $7,000,000 to retire
Bonds.— Under the lease of the N. Y. Providence & Boston, the New $5,600,000 consolidated fives, and tlie remainder to be issued from time
Haven road "assiuned" the debt of the Providence road, of the to time, as required, for additions, improvements, &c. The mortgage
Providence Co.'s $4,000,000 of general mortgage bonds $1,300,000 can cov» rs all tlie company's property, real and pf rsonal, acquired and to
be acquired mortgag- trust e is "The Mfrcautile Trust Co. The combe issued only to retire prior bonds at maturity. (See V. 54, p. 964.)
Finances.— The road between New Haven and New York and between pany lias agreed to redeem the 5 per cent lionds not later than the
year
practicable without
its interest charges.
There
New Haven and New London is being gradually four-tracked, and have 1899 ifissued$6.500.000 of increasingfours, of which $5,500,000
lieon
the new
changes in the road l)ed at New Haven now in proirress will cost, it is
estimated, $430,000 or more. On July 1, 1892, the outstanding loans for refunding the 6s niKl .^1,000,000 for improvements and new equipand bills payable were .$500,000. In addition to which the Providence ment. This will entail an additional charge of only $20,000 per anallowauce for the saving in interest from refunding
Company had outstanding $1,050,000 bills payable, against which was num, after making6s.
tlie first mortgage
See advertisement. Chronicle of June 11, 1892,
cash $641,424.
also V. 54, p. 444, 683, 721, 9.=)4.
Annual Report.— Fiscal year ends June 30. Annual meeting is
Latest Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months),
held third Wednesday In October. Report for 1891-92 was in V. 55, p. gross, $1 ,015,422, against $877,769 in 1891; net $326,008, against
418, 501.
In 1891-92 $2,185,052 was spent for betterments.
Tlie $2(!7.431.
earnings of the N. Y. Providence & Boston not Included in the followANNUAL Report.— Fiscal year ends June 30. Annual meeting is held
ing, were given in V. 55, p. 501.
on last Wednesday in September. Report for 1891-92 was given at
some length in V. 55, p. 529, 543.
1888-89.
1889-90.
1890-91.
1891-92.
Gross earnings.. $10,094,487 $10,749,167 $11,323,617 $11,913,701
1891-92.
1890-91.
1889-90.
477
424
424
Net earnings.
3,004,548
$3,369,393
$3,394,715
$3,640,690 Miles operated (Inol. trackage)
Other income.
142,383
149,383
188,365
$3,265,417
$2,809,702
189,238 Gross earnings
$2,200,446
2,461,136
2,155,372
Operat'g expenses and taxes. 1,768,042
Totnctincome $3,146,931
$3,518,776
$3,583,080
$3,829,928
$654,330
$804,281
Balance, net earnings....
$432,404
Interest paid
$80,000
$80,000
$80,000
$80,000
Braitals
906,033
982,888
984,060
$879,306
$432,404
$729,330
981,685 Total net income
Taxes
484,254
.552,878
616,923
605,962 Interest on mortgage bonds..
507,261
203,000
453,902
Dividends (low.. 1,550,000
1,705,000
1,865,000
2,103,750 Miscell. interest and discount
Or. 11,559
5,032
4,212
176,585
169,956
Rentals paid
78,750
Tot. payments. $3,020,287
$3,320,766
$3,545,983
$3,771,397
Surplus
126,644
198,010
$672,287
37,097
Total disbursements
$628,890
58,531
$285,962
(V. 52, p. 121, 280, 707; V. 53, p. 95, 368, 472, 604, 714; V. 54, p.
$207,019
Balance, surplus
$146,442
$100,440
288, 542, 560, 721, 800, 924; V. 55, p. 331, 418, 463, 501, 679, 810.)
V. 54, p. 289, 444, 597, 683, 721,
(V. 53, p. 21, 256, 473, 754, 881
V. 55, p. 22, 256, 374, 529, 543, 544, 554.)
Ne«r York dc Northern.— Owns from 155th Street and 8th Ave. 846, 954;
nue. New York City (connecting with MetropoUtan Elevated), to
Ne*v York Pennsylvania Be Olilo.— O wns from Salamanca, N. Y.
Brewsters, N. Y., 54 miles; double track branch from Van Cort to Dayton. O., 388 miles; brandies— to Oil City, 34 miles, other
landt to Yonkers, 3 miles operates 4 miles total, 61 miles. Tlio New brandies. 15 miles total owned. 437 miles. Leased lines- Cleveland A
York City & Northern was sold iu foreclosure August 17, 1887, and thhi Mahoning Vallev Railroad and branches, 124 miles; Sharon Railoomnany was organized. Trustee of 1st mortgage is Central Trust Co.; way (tiu April, 1981,) Sharon, Pa., to Sharon Junction and
of 2d mortgage. Farmers' Loan & Trust Company. Due equipment trust brandies, 14 miles; New Castle & Shenango Valley. New Castle to
oertiflcates June 30, 1892, $100,870 loans and bills payable, $70,893. West Middlesex, 17 miles other lines, 4 miles total operated, 596 miles.
There are also overdue coupons to Dee. 1, 1892, on 2d mort.. .¥128,000.
Organization.— Formerly Atlantic & Great Western Ry. Sold July
Reorganization.— Interest on the second mortgage bonds became a 1, 1871, and again Jan. 6, 18S0, reorganized, and again leased to Erie.
fixed charge in December, 1891, and In March, 1892, as this interest
Five trustees exercise the voting power of stock until the third
was not being earned, a reorganization plan was offered. It proposes mortgage bonds receive 7 per cent interest in cash during three years.
;
town,
;
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;
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—
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170VEUBER,
1893. J
RAILROAD STOCKS AND BONDS.
90
r
;
SUPPLEMENT.
INYESTOKS'
!•»
I
Vol LV.
Sabscribers will confer a great favor by elvlng Iminedlate notice of any error discovered In these Tables.
Bonds— 'Prinot
RAILROADS
INTERESTjOR DIVIDENDB.
Miles Date
For explanation of column headings,
on first page of tables.
JTew Tork TMladclph ia
d!
&o., see notes
$100
Norfolk— Stoo^
112
c*
Ist mortgage, $16,500 per mile, gold
112
Income M., non-cumulative, $10,000 per mile...
AVKN
N. r. Providence <* Boston— fi¥.K New York Nbw
7
S. T. it Jiockairaylleaeh— 1st M.,g.,end'8ed by L. I.o*
Income bonds, non-cumulative
r
If. I. Unsqntehannit Western— Commoii stock
Preferred stock, 6 per cent cum
Midland KR. of N. J, 1st mort., gold
o*
73
Paterson Extension RR. let M., real estate, g..c*
1
N. Y. Sus.&W.lst M., refdg.g. (2dM on73m.).o* 134
2d mort. ($1,000,000 gold) 3d M. on 73 mUes.c* 134
General mortgage for $3,000,000, gold
c*
134
91
W. T. Texas J/fj-.— 1st. M.,g.,$ or i.gu.by So.Pac.c*
Carolina— \»% M. for $1,500,000, gold.o* 110
Iforfolk
104
Worfolk <£• SouWicrii— Capital stock
Ist mortgage, $10,000 per mile, gold
104
c*
Iforfolk it Wester?!— Common stock
Pref. stock 6 per cent, non-cumulative
Norf k & Petersb'g—2d M. (now 1st) Nor.to Pet'g.c
81
BoHth Side Consol. mort., Ist pref., extended, .c 133
Consol. M. 2d pref., gold, extended
133
c
Consol. 3d pref., Petersburg to Lynch. & br's. .o
133
Virginia & Tenn. enlarged M. (extend in. 1884). .c 214
4tli M. Lynchl)'g to Bristol and branch, 214 m.c
214
Horf.&West.Gen.M..Norfolk to Bristol.etc. gold.o* 428
New River division Ist mortgage, gold
c*
157
Improvement & Extension Mortgage, gold. .c* 586
Adjustment Mort., gold (red. Oct.'Olat 110)..c* 586
Clinch VaUcy Div. Ist M., gold, $19,000 p.
o*
105
Convertible debent'res, subject to call at 100. c'
100-year mortgage, $45,CKX),000, gold
971
c*
Scioto Valley & New Eutrland. lBtM..aBsum.,e.c*
129
H
1883
1883
<£•
,
—
.
m
Lease.— The
1,000
1,000
1887
1887
1880
1881
1887
1887
1890
1882
1889
500&0.
1,000
1,000
1,000
1,000
1891
1,000
500
1,000
100
100
100
1,000
1868
1868
1,000
1868 100 &c.
1868 100 &c.
1854
1,000
1866
1,000
1881
1,000
1882
1,000
1,000
1883
1,000
1884
1887
1,000
500
1884
1889 100 <fec,
1889
1.000
•was modifled April 1,
793. The rental is 32 per cent of all gross earnings until these reach
$6,000,000, and this proportion decreases by 1-10 of 1 per cent for
each $100,000 of gross earnings above $6,000,000 until the gross earnings are $8,000,000. It earnings equal or exceed $9,000,000, the rental
shall be 28 per cent. But if 32 per cent of the gross earnings should
ever be less than a specilled minlmiun 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.
Bonds.— The first mortgage bonds bear 7 per cent, whatever portion of this that may not be earned to be payable in deterred warrants,
to be capitalized in bonds of the same class payment of interest to
become absolute not later than July 1, 1895, and until July 1, 1895,
the right to foreclose the mortgage is suspended. On the second and
third mortgages there is no right to sue the company or to foreclose.
Earkixgs. In fiscal year 1S91-92 gross earnings were reported to be
$7,266,000, an increase of $1.">0,0<>() over previous year; net income
from all sources will be$2,'28'2,000, an iuc«>aso of $50,000 over 1891.
For year ending September 30, 1891, rental received was $2,198,616;
other Income, $34,493 total income, $2,233,109 taxes, etc., $94,441;
rentals and otlior charges, $856,824; interest on prior lien bonds,
$480,000; additions and betterments, $162,942; dividends on first
;
—
;
mortgage bonds, $302,828. July 1, 1891, and $387,807, payable Jan. 1,
1892; surplus for year, $638,901. See V. 54, p. 721. (V. 50, p. 632;
V. 51, p. 609. T51; V. 53, p. 604; V. 54, p. 721.)
New York Pblladelpbia A. Norfolk,—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 Peniusula Railroatl Com;
of Virginia. Has traiflc contract till January, 1895, with Penn
Bylvania Railroad, which company sets aside 10 per cent gross earnings
to purchase 1st mortgage coupons. See V. 47, p. 807. There is a six
per cent bottomry mortgage for $225, (XK), due April 1, 1895.
From Jan. 1 to June 30, 1892 (G months), gross earnings were $404,576, against $408,392 in 1891 not, $88,913, against $77,359. In 1891
gross earnings were $788,430; net, $155,739. In 1890 gross earnings
were $803,197 ; net, $165,545. (V. 50, p. 245 ; V. 51, p. 142.)
Nevr York Providence
Boston.— See New York New
pany
;
&
New York & Rockaway Beach.—Owns from Glendale Junction
to Rockaway Park, with branch, 12 miles trackage to L. I. City, Brooklyn, Far Rockaway, etc., 18 miles; total operated, 30 miles. Stock authorized and outstanding, $1,000,000; par, $100. Controlled by Long
;
Island Railroad Company, whose endorsement is printed on llrst mortgage bonds. (Formerly New Y'ork Woodhaven & Rockaway.) In year
ending June 30, 1892, gross earnings were $238,314; net, $40,671
interest, $38,600 rentals, etc., $1,583 ; balance, surplus, $6,487, agst.
$8,463 in 1890-91. (V. 53, p. 568; V. 55, p. 543.)
York Snsquehanna Sc lYestern.— rSee Map.)—Jersey City
to Gravel Place, Penn., 101 miles; Two Bridges, N. J., to Unionvllle,
Y., 21 miles; other branches, 12 miles; leases— Middletown UnionN.
vllle & Water Gap RR. (which see), Unionvllle, N. Y., to Middletown,
N. Y., 14 miles ; Pennsylvania Railroad trackage in Jersey City 3 miles;
small branches, 6 miles; total, 157 miles.
History.—The New Jersey Midland was sold in foreclosure February
21, 1880, and the Midland of New Jersey was organized. The New
York Susquehanna & Western was a consolidation in June, 1881, of the
Midland of New Jersey and other railroads.
Dividends.- The preferred stock is cumulative 6 per cent, and the
first dividend (1>4 per cent) was paid in October, 1891; in 1892, May,
paid IH; November,
The accumulated dividends unpaid amounted to 55 per cent in July, 1892. See V. 55, p. 147.
Bonds.—The general mortgage 5s of 1890, for $3,000,000, were
authorized for new equipment, double-tracking, etc., $1,000,000 being
reserved to retire the same amount of second mortgage bonds of 1887.
Bee mortgage abstract, V. 52, p. 84.
The New Jersey Midand junior securities were exchangeable into
stock of this company on certain tenns, and have mostly been so
exchanged. There are also $6,000 old firsts of 1911 and $93,500
debentures of 1897 outstandinir, besides $75,000 Passaic & N. Y. RR. 68,
due 1910 (int. .7 & D); interest is guaranteed under 999 vcar lease.
Latest Earnings.- From Jan. 1 to Sept. 30, 1892 (9 months), gross
$1,277,059. agaiust$l,218,550in 1891; net, $568,904, agatnst$535,561.
Annual Report.— Report for 1891 was in V. 54, p. 365.
;
Ne^
m.
1888
1889
1890
1891
$1,445,900 $1,402,466 $1,592,083 $1,656,522
$595,910 $551,438 $670,946 $716,455
25,828
33,527
30,401
30,051
OroBB earnings
Net earnings
Other income
Total
$701,347
$445,459
26,446
25.776
$746,505
$169,586
26,446
14,993
100,000
Total disbursements.
$470,318 $480,567 $497,681
Balance, surplus
$151,4'20 $104,398 $203,666
p. 84, 3411 V. 54. p. 243, 305, 889; V. 55, p. 147.)
$611,025
$135,480
$621,738
$441,120
26,497
Interest on bonds
Rentals
tUsoellaneous
Dividends
—(V. 52,
2,699
;
$584,965
$441,120
26,491
12,955
&
3.
J.
%'
<fc
J. Phlla., Penn.
J.
do
M.
&
B.
1,000,000
Jan.
1
13,000,000
8,000,000 See text. Various
3,500,000
6g. A. & O.
250,000
J. & D.
3,750,000
5 g. J. & J.
636,000
4>2g. F. & A.
1,250,000
P. & A.
1,457,500
A. & O.
1,320,000
5 g. A. & O.
2,< 100,000 See text.
625,000
5g. M.'a N.
9,500,000
43,000,000 See text. A. & O.
496,000
J. & J.
8
290,000
J. & J.
270,500 5g.&6g. J. & J.
452,800
6
J. & J.
980,000
5
J. & J.
1,000,000
8
J. & J.
7,283,000
6g. M. & N.
2,000,000
6g. A. &. O.
5,000,000
6g. P. & A.
Q.-M.
1,500,000
7 g.
2,500,000
1^- M. & 8.
525,000
JI6&JI6
9,265,000
J. & J.
5,000,000
M. & N.
100
100
Lake Erie & Western made April 30, 1883,
1887, and again October 1, 1889. See V. 49, p.
Haven & Hartford.
772,000
1,000
1,000
lea«e to N. Y.
;
$1,714,375
1,848,000
1,000,000
&'Har TFORD.
,
rf-
pal. When Due,
Stocks— haei%
Size, or
Amount Rate perj When Where Payable,
of
of
Par
and by
Road. Bonds Value. Outstanding Cent.
Payable
Whom.
5&6
Dividend.
RR. Office, Jan.
do
Oct.
1927
1927
Nov. 10, 1892
Apr. 1, 1910
June 1, 1910
Jan. 1, 1937
N.Y.,Of. 15Cortlandt8t
N. Y., Nat. Park Bank.
N.Y.Of.,15 CortlanrttSt.
N. Y., Nat. Park Bank.
N.Y.Of.,15 CortlandtSt.
do
1923
193»
Sept. 1,
Sept. 1,
N. Y., Corbin Bank'g Co,
1,
1.
Feb.
Aug.
do
1,
1,
1937
1940
N.Y..8.Pac.Co.: London. Apr. 1, 1912
N. Y., Central Trust Co. Apr. 1, 1939
N. Y., Atlantic Tr. Co. Oct. 10,,1892:
do
do
May 1 1941
333 Walnut
Phila.,
Oct.,
St,
N. Y.,Merc.Tr.Co.& Phil.
do
do
do
do
do
do
do
do
do
do
do
do
do
It
July
July
July
do
do
do
do
do
do
do
do
do
do
do
do
do
1892
1,
1,
1.
189»
190O
190O
Jan. '96-1900
June 30, 190O
Mch. 1, 1900
May 1, 1931
Apr. 1, 1932
Feb. 1, 1934
Dec. 1, 1924
June 1. 1957
Jan. 15, 1894
Jan. 1, 1990
Nov. 1, 198»
York YexaK
Sc Mexican.—Owns from Rosenberg to Vic91 miles. Stock, $630,040, and Southern Pacific Company owns
but .$22,040 of it. There are also $60,500 sixes outstanding. I».
operated by the Southern Pacific Co., wliich guarantees the 4p.c. bonds.
From January 1 to Sept. 30 in 1892 (9 moutlis) gross earnings were
$168,186. against $1.54,846 in 1891
net, $41,004, against $25,676,
lu 1891 gross $241,679; net, $69,467; deficit imder charges, $25,097,
against $73,971 in 1890.
In 1890 gross, $225,629; net, $12,549,
Floattng debt (due So. Pac. Co., etc.) Jan. 1, 1892, $562,949.
Iforfolk tc Carolina.—Owns from Norfolk, Va., to Tarboro, N. 0.»
101 miles; branches, 9 miles; trackage to Rocky Mount, 17 miles
Successor to the Chowan & Southern; name changed in 1889. Opened
April 1, 1890, and forms a part of the Atlantic Coast Line system.
Stock, $1,500,000; par, $100. In year ending June 30, 1892, grossearnings were $310,625 operating expenses and taxes, $241 ,618; net*
$69,007; interest on bonds, $66,000; balance, surplus, $3,006. Ia
1890-91 gi-oss, $285,367.
i\e»v
toria,
all
;
;
&
Norfolk
Southern.—Owns Berkely, Va., to Edenton, N. C, 74
miles
(ferry across Albemarle Sound to Mackey's Ferry, 9 miles ;>•
thence road to Belle Haven, 30 miles total road owned, 104 miles t
ferry, 9 miles.
Tlie Norfolk Southern was sold in foreclosure April 29,
1891, and reorganized as now after consolidation with tlie Albemarle <Sc
Pantego RR. Co. Receiver discharged June 1, 1891. Paid fir.^t dividend
(1 percent), in July, 1892; in October, 1 percent. From Jan. 1 to Sept,
30, 1892 (9 montlis), gross earnings were »-321,068; net, $116,589.
President, Watson B. Dickennan, 74 Broadway, N. Y.; Registrar of Selident,
ourities, Atlantic Trust Co.- -(V. 49,p. 719; V. 50, p. 771
V.52, p. 463,
681 V. 54, p. 444, 889.)
Norfolk
lYestern.- CSfee Jfapg.;— Owns from Norfolk, Va., to
Bristol,
408 miles; branches, 36 miles; New River Division
[Radford to Powhatan, 83 miles; Cripple Ci'cek Extension, 4ftmiles; other, 44 miles], 173 miles; Clinch* Valley Divisiou, Graham to
Norton, Va., and branches, 107 miles; Keuova to Columbus, O. (formerly the Scioto Valley & NewEng. RR.) 137 miles; Maryland & Wash
ington Division, Hagerstown, Md., to Roanoke, Va.. 238 miles, and
branches 21 miles. Total operated January 1, 1892, 1,120 miles.
Ohio Extension, to Kenova on the Ohio River and branches, 184 miles.
On March 1, 1892, began operating Lynchburg & Durham RR., Lynchburg, Va., to Durham, N. C, 114 miles, and the Roanoke & Southern
RR., extending from Roanoke, Va., to Winston, N. C, 122 miles^
making 1,540 miles in system March 1, 1892, of which Ohio Extension,
184 miles, then under construction, was completed Sept. 27, 1892. (V,
55, p. 463, 504.)
Organization, Etc.— The Atlantic Mississippi & Ohio Railroad Company was a consolidation of Norfolk <fe Petersburg, South Side and the
Virginia <fe Tennessee roads; it was foreclosed Februiiry 10, 1881, and
was reorgauized as the Norfolk & Western.
In June, 1890, piu-chased the Scioto Valley & New England Railroad
(formerly Scioto V^aUey). Now that the Ohio Extension is completed,
this road affords a through line to Columbus, O. The Shenandoah Valley
RR. was purchased at foreclosure sale Sept. 30, 1890, and because theMaryland& Washington Division. The connection with the LouisvilleSee V. 54, p. 601.
<fe Nashville was completed in June, 1891.
Capital Stock.— PrefeiTcd stock is entitled to 6 per cent noncumulative. In April, 1892, the company voted to issue 100,000shares of preferred stock, making the total $50,000,000, of which not
more than 50,000 was to be issued during 1892, of this $3,000,000was taken in September, 1892, by a syndicate in accordance with a
previous contract at 47. The sale of any further share.s has for thel>resent been abandoned. The proceeds were applied towards the completion of the Ohio Extension. See V. 55, p. 544.
Dividends on preferred stock— In 1882, 4 per cent in 1884, 3'a
scrip; in 1888, IJa; in 1889, 3; in 1890,3; in 1891, 3; in 189'2, April, l^a^
October,l per cent in scrip, convertible into 5 iier cent debenture bonds
Price of Stock.— Common in 1883, 10®18; in 1884, 10®12>3; in,
1885, 8®13''8; in 1886, 8®27% in 1887, 13®2338; in 1888, 15>9®23i4^
in 1889. 14i4®22is; in 1890, 13®'24''8; in 1891, 13B18Slt; in 1892, toNov. 18 inclusive, 9318.
Price of preferred stoclc— In 1883, 32®49% in 1884, 17®42 in 1885^
14®34ia; in 1886, 25®5938; in 1887, 34i3a55'8; in 1888, 41i9®58»8; la
1889, 47ifla61%; in 1890, 48®6638; in 1891, 46's®57»a; in 1892, to
Nov. 18, Inclusive, 37>4®56.
Bonds.— Abstract of Clinch Valley mortgage (Fidelity Insurance Trust
& Safe Deposit Company of Plilladelphia, trustee) in V. 45, p. 541; theissue, exclu-sive of $500,000 for equipment, is at $19,000 per mile.
The 100-year mortgage of 1889 (trustee Mercantile Tiust Co.) provide*
for the issue of $20,000,000 bonds, plus additional amounts not exceeding $25,000,(X>0 to redeem by purchase or exchange (urovided no ii>crease in Interest charges be thereby created) prior boiids on the 69*
miles built and imder construction, which prior bonds must not be increased to exceed $22,825,000 in all. All have tlie same lien and privilege and are equally seoured, though issued for ditferent purposes. A.
;
;
;
;
&
m
;
;
;
full abstract of this
mortgage was
in the
Chronicle,
;
Y. 50, p. 208.
The Scioto Valley & New England mortgage (trustee Central Trust
Company) has been limited to $5,000,000, each bond being stamped
with a statement signed by the Secretary of the Norfolk & Western,
certifying that tliis company "has assumed and eoveuauted to pay th&
principal and interest of this bond." See V. 50, p. 452.
j^a
o
NovBMBEE,
RAILEOAD STOCKS AND BONDS.
189a.J
Subscriber* irlll confer a great favor
RAILROADS.
Cor explanation of coluum
on
tlret
glvtntc Imimedlate notice of
bjr
Miles
of
lioadings, &o., see notes
Road.
tables.
page of
i« We>tem~(Oonclu(U(t.)—
& West.— l9tM. Maryland & Wash Dlv.,)t.o*
Deb. {$i;w,000) for dividend (subject to call)...
CoUattriU loan
Equlpnuiut M., 10-208, K.,dr'natl00aft.May,'P8
Norfolk
Worf.
CartruHl, principal and int^^rest
Gold car trusts, Kuar. hv KR. Equipment Ce..o
Roanoke & So. lRtM.,K.,$15,000p. m., gu.p.Al.o*
Equip, trust, !it210,000, guar. p.&i. by N. & W.o*
North Carolinu—Htock. (> p. o. till 1901, Rich, it D.
UTorth Pacific Coanl—lxt MT, gold, sub. to call at lOO.c
General M. for $1,,500,000, gold
c
1st mort. North PaciHc Coast KxtenalonCo.,gold.o
Wo. PeK»t.— Stock, 8 p. c. guar.990 yrs.,PhlL <b Read,
2d mortgage
General mortgage bonds
CAr
r
Bonds secured by $1,200,000 stock
JTo. <e So. of /«.— Ist M.for S600,000 ($10,0<K)p.m.)g.
Norlheastei-n (S. O.;—Stock
Ist mortgage, provided for by oonsol. mortgage.
2d mortgage, provided for by consol. mortgage.
Consol. mortgage, (for $1,830,000) gold
o
JTorthem, (N. ir.>— Stock, 5 p.c.rental till July,1897
Jforthern (Salifarnia let mortgage
Northern Central— Stoc^ ($8,000,000 authorized)
Ist mortgage. State of Maryland loan
2d mortgage
c*
Consolidated mortgage, gold.
o
Consol. mortgage, gold
r
—
Consol. geu. M., g.,s.f.,drawnat 100,
do
do
do
gold, $,
gold,
£
do
2d gen, mort.,
series
"A"
(s. t.
C&D
$or£ AtScB.o
o
$30,000 yearly). c*
1892
1892
1891
i'22
223
76
91
5
86
56
86
102
102
102
83
54
any error discovered In these Tables.
INTEREST OR DIVIDENDS.
pal. When
Date sue, or
Due*
Amount Rate per When Where Payable, and by Stock*— Jjeat
of
Par
Honda Value. Outstanding Cent. Payable
WTiom.
Dividend.
1891 $500^.
1892
500
1891
1888
1,000
255
101
Various
1,000
1,000
1,000
100
1881
1892
1883
1,000
1,000
1,000
....
50
1866 600 4c.
1873
1881
1890
1,000
50
1869
500
1869
500
1883
1,000
100
1889
"Ho
138
138 1865 500 Ac.
138 1868
1,000
138 1868
1,000
138 1874-5 1,000
138 1876-7 1,000
138 1885
1,000
138 1876
1,000
5g.
$7,050,009
5
2,000,000
6
4,279,000
6g.
386,779
900,000
2,041,000
106,000
4,000,000 6 per an.
590,000
700,000
150,000
4,742,950 8 per an.
1,500,000
7
4,500,000
7
1,200,000
6
(»)
900,000
820,000
322,000
694,000
2,997,300
945,000
7,518,150
1,500,000
1,126,000
2,599,000
205,000
1,835,000
2,000,000
1,400,000
2,648,000
J.
A.
A
&
J.
do
do
do
do
New York
do
J.'i'b.
Q.-J.
U.&
J.
4c
M.
M.
Je
&.
J.
J.
A
it
PhU. Jan.
do
do
do
do
Oct.
N. Y.,Mer. Tr.Co.
0.
A Phlla.
do
1,
1,
1941
1912
Dec. 31, 1893
June
1,
1908
JSD.'MtoOolDOS
Hoh.
1,
1922
D. Bait., Mer. Tr.ADep.Co. $21,000
S.
Burlington, N. C.
Sept. 1,
N.
San Francisco.
Nov. 1,
J. 8. Fr.Cal.Sfe. Dep.ATr. Jan. 1,
y'riy.
8.
1892
1901
1912
do
do
Overdue.
Of.,2408o.3d8t. Nov.25, 1892
do
do
Hay 1, 1896
J. & J.
do
do
Jan. 1, 1908
H.& B.
do
do
Sept 1, 1900
1940
J.'i'j.
Charleston, Office,
July 1, 1892
6 per an.
M.4 S.
do
do
Sept. 1, 1899
8
H. & 8.
do
do
Sept 1, 1899
8
^«- J. <t J. N. Y., Cuyler, Morgan. Jan. 1, 1933
„ per an. q,-j. Bost.,Cone'd or I>eban'n Oct 1, 1892
6
5
J. A D. N. Y., 80. Pac., 23 Broad June 1, 1929
See text. J. <t J. Balt.APlill.,233 8.4th8t. July 15, 1892
Annapolis.
Q.-J.
Irredeemable.
6
•
A. & 0. Baltimore <Sc Pliila<lelp*a July 1, 1900
6
J. & J. Baltimore, Treas. Office. July 1, 1900
A. & 0.
do
do
July 1, 1900
§8- J. & J. London and Baltimore. July 1, 1904
6 g. J. * J. Baltimore, Treas. Office. July 1, 1904
do
do
Apr. 1, 1925
4'ag. A. & 0.
do
do
5
J. & J.
Jan. 1, 1926
&. J.
Q.-F.
M. <b S.
Pbila.
Of the Maryland A Washington Division mortgage for $10,000,000
$2,500,000 bonds were reserved to extend the line to Washington,
D. C, and $1,000,000 for other purposes. See tuU abstract of this
North Pennsylvania.—Owns from Philadelphia, Pa., to BethIshem, Pa., 56 miles; branches to Delaware River, Ac, 30 miles. Tlie
Northeast Ponnsylvania and the Stony Creek roads are operated under
mortgage in V. 54, p. 204.
contract Leased for 990 years to Phlla. & Reading at 8 p. 0. on stock.
The collateral loan for $2,000,000 was obtained, by pledge of 100
North Sc Sonth of Illinois.—Owns from Springfield to Lltch
year mortgage Ijonds, for coustruotion and improvement purposes. It field, ni., 43 miles, and from Litchfield to Mount Olive, 7 miles
Is payable in iwo years or earlier under favorable conditions to the The St. Louis
A Chicago defaulted on January, 1889, coupon,
oonipany. See V. 54, p. 600.
and foreclosure sale of main line was made October 4, 1889, and of
Thf. gold car trusts for $900,000 were issued in 1892, each being inthe branch February 5, 1890. Litigation is pending and the receiver
dorsed with a guaranty of principal and interest by the Railroad has not been discharged. In September, 1890, road was leased to
Equipment Company. These ear trusts are not subject to call before the Chicago Peoria & St. Louis at $40,0(M) per annum, lease to last durmaturity, but fall duo in forty quarterly instalments of about $23,000 ing the receivership. See V. 51, p. 830. Stock— Common,
$1,500,000;
each, beginning Jan. 1, 1893. The equipment mortgage of 1893 has fireferred, $1,300,000, entitled to 5 per cent non-oumulattve dividends
been limited to .$900,000, and all the bonds deposited as seourity.for f earned. Gerald L. Hoyt President (V. 50, p. 72, 207, 245,
314,
the present gold car trusts.
377; V. 51, p. 425, 494, 830; V. 52, p. 239.)
Roanoke & Southern bonds for $2,011,000 were guaranteed in FebruNortheaotcrn (S. C.)^Owns from Charleston, 8. C, to Florence^
ary, 1892— see that company and V. 54, p. 601.
8. C, 102 miles; leases jointly. Lane, S. C, to Sumter, S. C, 38 miles;
Finances.—The strength of this company lias been in its local total operated, 140 miles. Of consolidated mortgage $1,142,000 was
business. Tlie n1inor.1l section traversed by the lino is shown by a held to retire debts of prior lien. Stock,
$900,000; par, $50. lu
special map ou an :ulji>iuiug page. The Oliio extension, 184 miles, was year euding June 30, 1892, gross earnings were
$659,256 (against
completed in September, 1892, atTordiUff direct commuuication by the $734,643 in 1890-91); net $158,845 net including other income, .$194,company's own lino to Colamliun, Ohio, and thence by connecting 289 interest paid, .$133,000; dividends (6 per cent), $54,000; balance
•Toaas to Chicago. During 1892 prior to Sept 1 $1,660,000 of the 100- surplus, $7,389; total surplus June 30, 1892, $194,744. (V.
53,p
.year fives were issued.
921: V. 55, p. 461.)
The October, 1S92, dividend ou the preferred stock was reduced to
Northern (Nenr Hampshire).—Owns from Concord, N. H., to
1 per oeut and i>;ii(l iu scrip oouvortilile iuto debenture bond^, the net
income applioablo U) dividends for the twelve months cudiug Juue 30, West Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol,
1892, whioli equaled 2% per cent on the stock, having been largely N. H., 13 miles total, 83 miles. A lease to Boston & Lowell for 99
years from January 1, 1890, was ratified in December, 1889, and then
applied to construction. See V. 55, p. 541, also earuings below.
President Kimball in Soptombor, 189 J, »t itod that no further large assigned to Boston & Maine, rental being 5 per cent on stock till JiUy 1,
Issue of bonds for capital purpo.so3 w«s contemplated and that " the 1897, and 6 per cent thereafter, payable in gold. In addition to the 5
capital expenditures after theolo-se of this year (1892) will be confined per cent dividends provided for by the lease, an extra 1 per cent per
to such moderate annual expenditures for equipment, additional side- annum has lieeu paid regularly from the contingent fund, which on
Iracks, double-tracking and terminal facilities as the annually In- May 1, 1891, amounted U) $369,053. See V. 53, p. 95.
•oreasing tratHc will necessitate, from which ample returns may be exNorthern California.— Owns from Knight's Lauding to Orovllle,
pected." Sec V. 5:), p. 523.
Cal., 54 miles; completed in December, 1890. Leased to Southern Pa"The connection or your Clinch Valley Division with the Louisville olHc Company, which owns $1,277,500 of the $1,280,000 stock. In
.dc Nashville at Norton was completed in Juue, 1891, and resulted im1891 gross earnings were $95,824; net $8,333, against $20,362; deficit
<aediately in a largo interchange of tratHc."
under charges, $46,628.
Latest Earnings.—Jan. 1 to Sept 30, 1892 (9 months), gross, $7,236,Northern Central.—Owns from Baltimore, Md., to Sunbury, Pa.,
787, against $6,688,414 in 1891; net $2,139,492, against $2,242,691.
137 miles; branch— Hollins to Green Spring Junction ,9 miles leases—
Annual Re i-okt.— Fiscal year ends Dec. 31. Annual meeting is Shamokin Valley & Pottsville Railroad, 30 miles; Elmira A Williamsheld at Roanoke, Va., ou first Wednesday In May. Report for 1891 port Railroad, 76miles; operates at cost^Elmira & Lakes Ontario Railwas published in tlie Ojikoniclk, V. 54, p. 596, 599. (See also p. 582.) road, 100 miles; Summit Branch Bailrojwl, 20 mile; Pennsylvania
'The statement for 1891-92 below Is an otfloial report for the year end- Railroad, 3 miles; total operated, 375 miles. Also uses New York
Lake Erie & Western tracks, 7 miles, and Philadelphia A Erie tracks
ing June 30, 1892, but the fiscal year still ends as heretofore Dec. 31.
between Sunbury and Lewisport, 40 m., and owns Union RR., 9 miles.
1891-2.
1889.
1890.
1891.
Average miles operated.
591
Oroanization.—This was a consolidation of several roads in 1854.
826
1,091
1,186
Passenger earnings
$940,305 $1,612,260 $1,819,593
It is controlled by the Pennsylvania Railroad, which owns $3,488,950
$
iFreight earnings
4,417,315 5,636,218 6,980,130
of its stock,
securities Owned— Company guaranteed certain
JIaii, express, &0
Allegheny Valley securities (see that company), and in the reorgani239,505
313,438
388,319
zation of that company In 1892 received some of its stock and bonds.
Total gross earnings
$5,597,125 $7,561,915 $9,188,042 $9,494,411 (V. 54, p. 327.) On Jan. 1, 1892, company also owned the following:
Oper.expea. duel, taxes). 3,483,352 4,838,610 6,009,767 6,388,028 Baltimore & Potomac stock, $632,850; Elmira * Lake Ontario stock
tall), $1,500,000; Shamokin Valley * Pottoville stock, $019,400; Union
Wet earnings
$2,1 13,773 $2,723,305 $3,178,275 $3,106,383 RR. stock (all), $1, -200,000, etc. The income from inve,stment« in 1891
'—
P. o. of op. ex. to eam'gs.
64-00
65-41
62-00
was $303,98!>, of which $240,000 was from dividends on Union RR.
income from invest, &c. $144,148 $233,919 $156,645 $209,881 stock. LiAUiLiTiEs— Mortgages aud ground rents on Jan. 1, 1892, were
.» From Shon. Valley fund
135,000
135,000 $393,388; " other liabilities " excluding interest, etc.,accrued, pay-rolls,
Ket income
$2,257,921 $2,957,225 $3,469,920 $3,45 1 ,264 etc., were $1,188,175.
Interest on bonds, Ac... 1,451,265 1,814,008 2,266.130 2,333,2-23
Dividends since 1880 have been: In 1881, 513; in 1882, 6; from 1883
Eentals Lynch. & Dur
19,960 to 1886 Inclusive, 8; in 1887, and 10 stock;
1888.7;
Dividend on pref. stock.. (3)660,000 <3)735,000(3)1,072,.500 -1,030,000 in 1890, 8 p. 0.; in 1891, 7 p. c; 8In 1892, Jan., 4 In c.; July, 3In 1889, 8;
p.
p. c.
Miscellaneous
41,609
88,607
Earnisos.— From Jan. 1 to Sept. 30, 1892 (9 months), gross, $5,219-,
Total dlsbursem'ts... $2,152,874 $2,637,615 $3,338,630 $3,383,183 435, against $4,979,8-24 in 1891; net $1,437,472, against $1,515,769.
balance, surplus
Annual Report.— Fiscal year ends Deo. 31. Report for 1891, in V.
$105,047 $319,610 $lil,290
$68,081
54, p. 337, showed the following:
* Dividend 2 "a per cent, of which 1 per cent in scrip convertible into
1888
1889
1890.
1891.
-bonds.
t Derived from a special fund of $270,000 created under
Gross earnings
$6,203,394 $6,069,9'>6 $6,608,797 $6,820,568
-agreement with the Shenandoah Valley.
Net earnings
2,109,821
1,944,356
1,687,038
1,903,346
—(V. 53, p. 126, 326. 370, 604, 922 V. 54, p. 159, 203, 204, 288, 404, Other receipts
251,125
307,628
522,951
377,181
-*05, 58-i, 696, 599, 845, 887, 965; V. 55, p. 100, 463, 544, 639.)
North Carolina.—Owns from Goldsboro to Charlotte, N. C, 223
Total income
$2,417,449 $2,447,728 $2,209,989 $2,280,527
•miles. Leased September 11, 1871, to the Richmond & Danville for 30 Rentals, Ac
470,706
464,870
475,572
440,461
>rear8 at $260,000 per year. Dividends of 6 per cent are paid ou the Interest on debt
9'24,039
926,505
931,481
914,001
••took, of »ljlch ttie State of North Carolina holds $3,000,000, and the Dividends
(8)571,966 (8)571,975 (7)526,260 (7) 5'26,263
dividends tuus received by the State are applied to her bonds issued to Miscellaneous
293,828
79,495
226,654
229,558
;
;
;
;
;
-the
North Caiuiiiia Railroad.
North IIikInoii County.—Sbb
North Pa<'lllc- CouHt (Narrow
" Misckllaneous Companies."
tjiaiitie).—Owns San Francisco to
•Cazadero, 87 miles branches to San Rafael and Mill Valley, 4 miles;
leases to San yiientin, 3 miles; total operated, 94 miles, including
ferry to San Francisco,
miles; also has ferry to Sau ynontiii, 11 miles.
April, 1892, solil to W. Graves and general mortgage issued for $1,500,•000 to retire old bonds, for exteiisions, new steamers, etc. Stock anth•orized, $3,000,000; outstanding, $2,500,000; par, $100. In 1891 gross,
4418,416; net, $118,360; other income, $22,054; interest, taxes, etc.,
;
«77,255; equipment, $44,133; permanent improvement,
etc.,
$29,024.
Tot'l disbursements. $-2,048,672
Balance, surplus....
$368,776
$2,263,155 $2,152,526 $2,110,283
$185,573
$57,462J $170,244
— (V. 50, p.'sil, 519; V. 52, p. 4«'2; V. 54, p. 327, 844.)
Northern of New Jersey.—Owns from Bergen, N. J., to SparklU,
N. J., 21 miles leases Sparkill to Nyack, 5 miles; total operated. 26
miles. By contract of April, 1869, ft is operated by New York Lake
Erie & Western at 35 per cent of its gross earnings and five fifty-sixths
of the balance. It is understood the contract is tenninable by either
party on notice. The stock is $1,000,000 par. $100. In 1891-9
gross earnings were $129,835
net over exi>euses, $93,765 ; interes
;
;
;
102
INTESTORS'
SUPPLEMENT.
[Vol. LV.
NOTLMBEB,
lt:92.J
KAILROAli STOCKS
ANU BONDS.
lOS
104
INVESTORS' SUPPLEMEJST.
[Vol.
LV.
.
NOTfBMBBR,
—
:;
EAILKOAD STOCKS AND
1892. J
105
BOxnDS.
by g^vlns Immediate notice of anr error discovered In these Tables.
Bvnd*—Prinel'
INTEREST OR DrVTDENDS.
Miles Date Size, or
Amount Rate per Wben Wliere Payable, and by pal,W]ieBl>iMb.
of
of
Par
Btoekt-UM
Outstanding
Subscriberii nrlll confer a Kre>t favor
'
RAILROADS.
F*r explanation of column headings,
on first page of tables.
iio.,
see notes
Road. Bonds Value.
tiorlhem Oe.nlral—(Conel.)—2agen. Miseries B..o
Union RK.,l8t(a88'd)$117,000end. bvBalt.Clty.o*
o
2d mortKago (aHSumed) $ or *, KOld
ITorlh. of New Jersey— 3d M. ,now lst(for$700,000) .0
KortKem I'af ifie— Cmamon stock
(8 per cent, not cumulative)
Id. Rr. Missouri Div., dr'n at par.o*&r
Preferred stock
Ist M. and
Ist M. and
id. fcT. P. d'Or. I)iv.,drawnatpar.c**r
Id. jfr-, «-, .f25,000p. m.,dr. atllOc'ii
Qen.lstM.
Gen. 2d mort., f?old,laud crant, dr'n atll0...o**r
Gen. 3d mort., gold, siukliiK Iimd, not drawn.o*Ar
o*4r
Ctonsol uiortKaKe for *1 60,000,000, gold
Dividend certificates, ext'd to '88, red. after 1892
Trust equipment
One year notes, secured by consols, etc., bonds..
.
0*
Kiv. Val. KR. Ist M., gold, guar., s. f
0"
Coeur d'Aleiie 1st mortgage, gold
Gen. M., $25,000 p. m., gold, guar., sink, fund.o'
Spokane & Palouse Ist M., gold, guar., s. f
o*
Duluth & Manitoba lat M., gold, guar., s. f
e*
Dakota extension 1st mortgage, gold, guar., s.f.
Helena & Red Mountain Ist M., g., guar., s. f .o*
James
.
& Montana
1st M., g.,gu.8.(.notdr'n.o*itr
Cent. Wasb. RR. lat M., gold, guar., sink. fd..o*&r
o*
Seattle Lake S. & East, lat M., grfld, guar
Nor. Pac. & Manitoba Terminal Ist M.,g., gu.,s.f..
SorlhemPac. Ter. Co.— lstM.,g.,dr'n att.'92 at llOo*
Northern Railway (dal.)— 1st M., int. guar., gold..
No. Pac.
ConsoLM. ($21,000,000),gold,l8tM.oul97m.o*&r
Sorwichd Worcester— Prei. stock, 8 p. 0. rental
1st M., principal and int. guar, by N. Y.
& N. E.o'
138 1876 81,000
9 •67-'70 500 Ac.
9 1873
1,000
21 1887
lOO&o.
100
100
205 1879 100 &0.
225 1879 100 Ao.
2,146 1881 l,OOOAo
2,146 1883 1,000*0
2,146 1887 1,000*0
3,163 1890 1,000&0
1888 500 &0.
....
1888
....
1892
64 1886
1,000
500
39 1886
49 1888
1,000
110 1886
1,000
110 1886
1,000
96 1887
1,000
17 1887
1,000
225 1888 l.OOO&c
108 1888 l,000&c
227 1886
1,000
....
1890
1,000
1883
1,000
149 1877
1,000
386 1888
1,000
100
66
66 1877
1,000
,
rentals and taxes, $55,237; dividends (4 per cent), $40,000; balance
defloit, $1,472. Dividends.— From 1884 to 1891 Inclusive 3 to 4 per
cent yearly. (V. 53,p. 603; V. 55, p. 461.)
Northern Paciflc— CSee Jfap.J—Line op Road—Main line— Ashland, Wis., to Portland aud Wallula Junction, Ore., 2,137 miles; Duluth
to Northern Pacific Junction {^ interest), 24 miles; Nortliem Pacific &
Manitoba (connecting with Canadian Pacific at Winnipeg and Brandon),
264 miles various other lines and branches, 875 miles. Total owned,
3,354 miles. Leases—St. Paul & Northern Pacitlc, Brainerd to St. Paul,
and branches, 182 miles; trackage St. Paul Minneapolis & Manitoba,
Minneapolis Union terminals, 3
St. Paul to Minneapolis, 12 mUes
miles other lines, 3 miles total, 18 miles. 'The Northern Pacific also
operates the following roa<l8 and guarantees a certain rental, sulUclent
to pay Interest and siiikiug funds:
;
—
;
;
;
From
To
Jamestown, Dak...Oakes, Dak
James River Valley
Miles.
64
& Manitoba
Winnipeg Jo., Minn. Grand Fork8,Dak. 109
"
"
"
Dak. Div.. Grand Forks. Dak.. Int'lB'ndary,Dak. 97
Marshall Jc, Wash. Gcne8ee,ldaho,&c. 149
Spokane & Palouse
Helena, Mont
Rimini, Mont
17
Helena&Red Mountain
Numerous lines
354
Northern Pac. & Montana
Duluth
109
Cheney, Wash
Grand Coulee
Central Washington
Also operates the lines of the Wisconsin Central Company (which see)malting grand total July 1, 1892. 5,262 miles. In addition owns a controlling mtcrest in the Seattle Lake Shore & Eastern, 246 miles, connecting with the Canadian Pacific.
History, Etc.—This company was chartered by act of Congress July
2, 1864. The road opened, 450 miles, to Bismarck, was foreclosed Aug.
12, 1875, and reorganized September 29. 1875. The Chicago & Northerr
Pacific, with its large terminals at Chicago, is subleased from the Wisconsin Central and interest on its bonds guaranteed. Tlie Chicago &
Calumet Tcnuinal Railway has also been acquired, all its stock and
honds being held by the Northern Pacific in the interest of the Chicago
Terminal System. See Chicago & Northern Pacific. The Baltimore &
Ohio Railroad made a contract to use terminals from Deceml)er 1,
1891, paying an annual rental therefor. The entire capital stock of
the St. Paul & Northern Pacific is now owned see that company.
Capital Stock. The preferred stock has a preference for 8 per
cent in each year if earned, but is not omnulative. The common stock
then takes 8 per cent, and after that both share pro rata. The preferred
stock's claim on net Income Is subject to expenditiu'es for now equipment. Preferred stock is received in payment for company's lands east
of Missouri River at par, and the proceeds of the land sold go to its retirement. The preferred stock has thus been reduced from $51,000,000
to the present figure. The Ijack surplus due tlie preferred stock by way
of dividends (i. e., for dividends earned but not distributed, unearned
dividends not being cumulative) amounted on June 30, 1892, to $2,844,429, Invested in consolidated bonds of the par value of
iW,347,000. In October, 1892, the preferred stockholders voted not to
sell these l)onds, which arc held by the P'armors' Loan A Trust Company, until thoy reacli 90. See V. 54, p. 679.
In August, 1892, tlio preferred stock assets included the following
$3,347,000 consols, equal at 70 to $2,342,9CK) land notes secured on
lands sold to actual settlers and worth par $817,258; land in Minnesota, about 1,200,000 acres, and land in North Dakota, about 1,800,000 acres, in all al)out 3,000,000 acres, worth, at a low average, according to the Land Commissioner, $4 per acre, or $12,000,000.
In May, 1892, the company suspended quarterly cash dividends on
tbe preferre<l stock, passmg the dividend due in July.
Dividends on preferred.- In 1883, lliio; froml884to 18891noluslve,
nil; In 1890 and 1891, each 4; in 1892, Jan., 1; April, 1; since, none.
Price of Stock.—Common in 1885, 15a31'4; In 1886, 22«313g; in
1887, 20®3408; in 1888, 1978®29%; In 1889. 25® 3638; In 1890,16%
'839'2; In 1891, 20i8®30'8; In 1892, to Nov. 18, inclusive, 1738®26i2.
Freferredstock- In 1885, 36'fl®6536; In 1886, 53'aa)66ia; in 1887,
4138®63i2; In 1888, 42%®64; In 1889, 58>s®78''8; in 1890, 55®86;
In 1891, 58's'a783e; in 1892, to Nov. 18, Inclusive, 47ia®72'8.
Bonds.— The Northern Pacific A Montana and the Coeur d'Alene Ry.
A Navigatiou bonds are issued at $25,000 a mile ; the James River
Valley and the Duluth & Manitol)a at $15,000 a mile; the Spokane &
Palouse at $16,000 a mile the Helena & Rod Mountain, a round sum
all the rest at $20,000 a mile.
All the issues of leased line bonds given In the table, except the Coeur
d'Alene 1st 6a of 1886, the Northern Pacific & Montana bonds and the
Seattle Lake Shore & Eastern 6s may be drawn and redeemed at 105
(certain amounts per year), tiie sinking fund in most cases commencing
ten years after the d.ite of issue of the respective bonds.
This company guarantees tlie lionds of the Seattle Lake Shore 4 Eastftm by endorsement; see tiiat company.
The consolidated mortgage for $160,000,000 was issued according to
plan in Cmkonici.k, V. 49, p. 373. It covers, subject to prior liens, the
main line and branches, a one-half undivided interest In "24 miles more,
and all the land grant except that east of the Missouri River, which
U subject to the prijfcrred stock. In addition to this the bonds at present outstanding are a first lieu on 1,276 miles of branches whicli have
no prior mortgage on them. These bonds are also issued in place of
?irior bonds on tbe main line and divisions retired by sinking funds. (See
nil abstrait of mort.— trustee. Farmers' L'n A Tr. Co.— hi V. M>. p. 279.)
As to tlie amount of consols outstanding the following explanatiou is
—
—
;
$1,000,000
900,000
600,000
625,000
49,000,000
36,524,050 See
[
2,801,000
whom.
Payable
Cent,
5
6
J.
J.
4c
dt
M.
M.
6
6
43,926,000
19,328,000
11,384,000
44,064,000
596,500
l"3,000,000
7
abt 8,000000
6
963,000
6g.
360,000
s«878,000
2 81,766,000
?81,650,000
?«•
1,451,000
400,000
5,381,000
f «•
1,750,000
f 85,675,000
6g.
750,000
3,600,000
5,156,000
?84.751,000
2,640,300 8 per an.
400,000
6
London A Bait Hay
City, Hud'n Co. Bk. Apr.
J.
A.
J.
J.
J.
N. N. Y..
*
&
&
A
A
A
A
J.
text
N.
J. Jer.
N. Y., Hllla Building.
B.
J.
O.
D.
D.
J.
m
J.
<Sc
M.
A.
M.
J.
J.
M.
M.
M.
F.
J.
J.
J.
A.
J.
M.
Jan. 1,
Jan. 1,
J. Balttmore,Trea8. Office.
J.
do
do
A
&
§'• H.
Dividend.
A
A
A
4
A
A
A
4
A
A
A
A
A
A
A
J.
8.
O.
N.
J.
D.
B.
B.
S.
A.
J.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
N. Y., Wlnslow, L. A Co.
1,
1,
1929
189»
190O
191T
April 15, 1892
llay 1, 1919
Sept. 1, 1919'
Jan. 1, 1921
Deo. 1, 1933
Deo. 1, 1937
Deo. 1, 1989
Jan. 1, 1907
Oct. 1, 189»
Ab't Sept., '9»
Jan. 1, 1936
Sept
Oct
May
July
June
Mch.
Sept
Sept
Aug.
May
Jan.
N.Y., 8o.Pao.Co.,23 Br-d Jan.
do
Oct.
O.
do
J. Boston, Second Nat. Bk. July
S. Boston, N. E. Trust Co. Mob.
1, 1916
1, 1939
1, 193»
1, 193ff
1, 193.7
1, 1937
1, 193S
1, 1938
1, 1931
1, 1939"
1, 1933
1, 1907
1, 1939
S, 1892
1, 1897
published: The $14,064,000 of consol. 5s given in the company's
September, 1892, statement had been issued and were bearing Interest
The .$45,329,000 listed included $1,205,000 held by the company and
not beariug interest. The $47,411,000 in the annual report included
the .$3,3 17,000 bonds set aside for tlie preferred stock. The $58,000,000 referred to by Mr. Baxter at the meeting Include $10,389,000
which have been signed but do not bear interest, tliese last lieln^
mostly pledged as collateral for floating debt. See explanation V. 5o,
p. 723.
Floating Debt.— Floating debt on Oct. 20, 1892, was $9,335,526, of
which about $8,000,000 wore one-year notes, secured by deposit of
consols aud other securities. V. 55, p. 723.
Lands.— The land grant of the company was 12,800 acres per mile In
States and 25,600 acres i>er mile in territories, and the lands earned by
construction to June 30, 1892, were estimated to be about -lo. 824,960
acres, of wliich about 38,521,656 rematne«l unsold. The lands east of
Bismarck (Minn, and Dak. Divs.) are pledged to the preferred stock,
and that stock is received In payment therefor.
For the fiscal year 1891-92 total land sales were 553,879 acres for
$2,308,990. Total sales, including town lots, &o., were $2,666,066;
total cash receipts for year, $2,770,019. For 3 months, July 1 1892, tO'
,
Sept, 30, 1892, total cash receipts, $323,600, sales, notes paid, 4o.
Total deferred payments (notes) againat land sales on Aug. 1,
1892, was .$5,900,914, of which $817,258 was applicalile to the rethremeut of preferreil stock, $2,170,999 to Missouri Division and to Pend
d'OreUle Division bonds aud $2,912,657 to the general Ist mort. bonds.
Latkst Eakninos.— The earnings of the whole system, including the
Wlscousin Central, for the month of Sept., 1892, and the throe months
ending Sept. 30, 1892, were as follows:
Smtember.
.
Incl.
WUeonHn
1891.
Cent.
Gross earnings
Operating expenses
.
July 1
.
1892.
to Sepl.
1891.
$3,211,278 $3,231,261
.... 1,836,384 1,722,046
30,^
1892.
$8,201,956 $8,732,21*
4,813,838 4,974,895-
Net earnings
$1,374,894 $1,509,215 $3,388,188 $3,757,318
MiscoUaneous inconte.
480,053
134,093
153,710
359,868
.
Total net Income. . . .$1,508,987 $1,662,925
Fixed charges....
1,069,875 1,220,879
Surplus
$439,112
$3,747,986 $4,237,371
3,153,176 3,617,569
$442,046
Annual Report.— Fiscal year ends June
30.
$594,810
$619,802
Annual meeting
is
New York on the third Thursday in October. Report for 189192 was In V. 55, p. 658, 677, 681. The Wlsoonsin Central does not figure
in the gross and net earnings below, but the net loss from operating Its
lines in 1890-91 and 1891-92 after payment of the rental, appears
among the disbursements for tbe year.
held at
1888-89.
1889-90.
1890-91.
1891-92.
MUeage, June30....
4,252
4,357
3,774
3,465
Passenger earnings. $5,824,163 $6,167,702 $6,680,492 $6,296,285
Freight earnings...
Mail, express, &o....
12,877,838 15,600,320 17,531,222 17.383,771
939,830
981,401
1,005,467
842,481
Total
$19,707,468 $22,610,503 $25,151,544 $24,661,457
Operating expenses. 12,185,944 13,463,746 15,400,996 14,577,34»
Neteamlngs
Per ct exp. to cam's
Other income, Ac...
$7,521,524 $9,146,757 $9,750,548 $10,084,10»
59-11
61-83
59-54
61-23
$532,325 $1,341,172 $1,693,136 $1,664,204
Mlsoel.(gen.tot,Ac.)
$8,053,849 $10,487,929 $11,343,683 $1 1 ,748,312
5,115,75'2
6,901,9564,917,833
6,247,074
1,230,214
1,159,263
1,424,021
1,362,114
1,086,9081,014,698
1,060,738
1,333,008
394,953
144,630
387,365
-(2)731,862
(3)1,112,732(4)1,472,466
73,600
1,188,018
343,309
301,918
111,375
348,078
91,228
108,708
Total payments .
Balance, surplus....
$7,572,371 $9,540,770 $10,905,395 $1 1 ,645,286
$438,288
$103,026
$947,159
$481,478
Total net Inc
Interest on bonds...
Rentals
Guarantees
on Wis. Central
Dividends
Sinkkig funds
Def.
;
•Dividend No. 9, paid Oct 1, 1891, $366,191, was charged agaiu.st
surplus of June 30, 1891.
tV. 53, p. 288. 368, 520, 546, 66T. 570, 605, 969 V. 54. p. 76, 159,
2(>6, 328, 40.5, 441, 821, 965; V. 55, p. 58,177,297,355,421,504,
—
658,677,679,681,723,
;
856.)
Northern Paclflr Terminal Company.—Owns terminal facilion the Willamette River, Oregon, at Portland, East Portland and
Albina, comprising lands 270 acres, trackage 24 miles, buildings 39,
dock fnmtago 7,90-1 feet. They are leased for fifty years from January
1, 1883, Jointly and severally to the Northern Pacific Railrwad. the Oregon Railway A Navigation Company and tlie Oregon A California Rallroa*l, with a guaranteed rental sufiicient to pay interest, sinking fund
and taxes. The sinking fund begins in 1893, and is to be sulBcient to
retire tlie bonds bv maturity, bonds l>cing drawn at 110 and interest
The stock of Ti;<.otk),000 Is iiwncd liy said three companies (40 per cent
by Oi-egon Railway A Navigation Company. 40 per ceut Ity Northern
Pacific and 20 per cent by Oregon A California Railroad), aud held by
ties
e
)
.
SUPPLEMENT.
INVESTORS'
106
[VOL. LV.
confer a Kreat favor by giving Immediate notice of any error discovered In tUeae Tablea.
Bonds— Prlnoi
INTBREST OR DIVIDENDS.
BAILKOAD8.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
of
Par
Slmks—LetBt
For explanation ot column headings, <&c., see notes of
Koad. Bonds' Value. Outstanding Cent.
Payable
Whom.
on tirst page of tables.
Dividend.
Subacrlbers
ivlll
Ogdeiisburg d Lake ChamplainStook
Consolidated mortgage (now Ist mortgage)
Income bonds, not cumulative
Guaranteed debenture bonds
....
$100
1880 500 &o.
1880 100 &o.
1888
1,000
I
118
r
Ogden6bTransitCo.lstM.(Cent.Vt.&Ogdens.,gu.)
Saratoga & St. Law. Ist M., for $200,000, guar, .r
Ohio cS Mississippi— Stock ($4,030,000 Is prer)
1st consolidated mort. ($H,415.000 are aink.fd.)o*
1st consolidated mort., sterling, s. f. not dr'n...o*
c*
2d oonsol. mort. (sink, fund), no drawing
flprlng. Div. (Sp. & 111. 8. E.) Ist M. ($3,000,000)0*
o*
l9t general mortgage (for $16,000,000)
Eqtdp. Tr.,3 series, 10 per ct. dm. yearly at 100. o*
Cin. & Bedford l.it mortgage, gold
Chio Rivei Ist mortgage, $12,000 per mile, gold.o*
Gen. M. (for $3,000,000), gold,l8t on 39 miles.. c*
Kavenswood Spencer & Glen.lstM,, gold,Kuar.o*
Huntington & Big S. IstM. ($400,000), gold, gu.c*
o*
Ohio Soulheni— 1st mort. ($15,000 p. m.) gold
—
c*
General mortgage, (for $2,800,000) gold:.
c*
Ohio Valley, Ky.—l&t mortgage, gold
General consolidated mortgage, gold, guar
o*
o*
Old Ootoiiy—Stock
c&r
Bonds (not mortgage)
do
(f2,000,OOOF.&A.,Aug.'97)c&r
Bonds
r
Bonds
do
c
Bonds for Framingham & Lowell bonds
Bonds not mort. (,$750,000 '84, due July, 1904) .r
c
New Bedford RE. 1st mortgage
Boston Clin. F. & N. B. mort., int. guar, by rental.
o*
Oniaha <£ AV. Louis Ist mortgage, gold
c*
2d mortgage ($4,000 per mile) gold
Funded interest certincates. redeemable at 100.
—
10
628
393
393
393
222
1889
100
1868
1868
1871
1874
1883
1,000
£200
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
87-'91
6
169
208
33
12
132
ids
108
1889
1886
1887
1890
1892
1881
1889
1886
1888
100
1874
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
75-6-7
1882
1884
'84-'88
58
125
145
145
1874
1880
1887
1890
1891
$3,077,000
3,500,000
999,750
350,000
759,500
100,000
24,09'2,G29
Central Trust Company of New York, to be delivered after payments to
the sinking fund, which Is to cancel the bonds
Northern Hallway Co. (California).—This was a consolidation In May, 1888. Owns 390 miles of railroad, leased for 99 years fiom
July 1, 1888, to the Southern Pacifle Company, the lessee paying tlxed
charges and betterments and 6 per centou the stock, if earned, and retainingany surplus. Statement to N.Y. Stock Exchange in V. 50, p. 393
The capital stock authorized is $21,000,000; issued $12,896,000, all but
199, 300 being owned by Southern Pacific Co. The consolidated 5s of
f 888, issued under mortgage for $21,000,000, are a first lien on 197
miles, and have a sinking fund after 1897, but bonds cannot be called.
In 1891 gross earnings were $2,914,444; net, $1,375,171; against
$1,079,671 in 1890; sm-plus over charges, $837,266; dividends, 6 per
cent, $773,760; balance to So. Pacific, $63,505.
IVorivleU Sc Worcester.—Owns from Norwich, Conn., to Worcesbranch, Norwich to AUyn's Point, 7 miles total,
ter, Mass., 59 miles
66 miles. Leased to New York & New England RR. for 99 years from
February 1, 1869; rental Is 8 per cent on preferred stock. Common
etock Is $6,600. Notes payable Sept., 1892, $290,000. In 1886-87,
gross receipts, $781,979 net, $293,108; rentals, $40,220; Interest, $27,165; surplus over 8 per cent dividends, $17,900. Stock authorized,
$3,825,000.
Ogdensburg Sc Lake Cliamplaln.—Owns from Rouse's Point,
N. Y., to Ogdensburg, N. Y., 118 miles; leases for 99 years Saratoga &
et. Lawrence EE., 9 miles. On June 1, 1886, a perpetual lease of this
road was made to the Central Vermont RR. Co., the lessee to pay Intorest on the bonds. The Ogdensburg Transit bonds are guaranteed by
this company and the Central Vermont. Stock $3,077,000 (par, $100),
of which $1,612,500 is ownedby Central Vermont. Consolidation with
the Central Vermont proposed, but certain stockliolders object. V. 55,
It is said one share of Central Vermont stock is to be given
p. 147.
for ten shares of Ogdensburg & Lake Champlaln. On July 1, 1892,
loans and bills payable were $95,000.
In year ending June 30, 1892, gross earnings were $858,416; net,
$261,684; interest, etc. (less other income, .$3,917), $229,626; balance,
surplus, $32,058. In 1890-91 gross $800,180; net, $184,116; deficit
after interest, rental, etc., $42,878. In 1889-90 gross earnings, $771,954. (V. 53, p. 256, 568, 714; V, 54, p. 410, 888; V. 55. p. 147, 502.)
Ohio & inisslsslppt.— Owns from Cincinnati. O., to East -t. I>ouis,
HL, 339 miles; Louisville branch. North Vernon to JeflTersonviUe, Ind.,
<ft
J.
6
5
"7
6,501,000
112.000
3,214,000
2,009,000
7
4,006,000
5
423,000
6
135,000
5g.
2,000,000
2,598,000
300,000
6g.
300,000
6g.
2,100,000
6g.
2,520,000
100,000
5 g.
2,029,266
13,367,500 7 per an
1,692,000
7
6
3,600,000
200,000
41a
498,000
3,650,000
400,000
1,912,000
2,717,000
51,000
271,700
& O. N.Y.Mer.Ex.Bk. Boat. Apr. 1, 1920
& O.
Apr. 1, 1920
& J.
St. Albans, Vt.
Apr. 1, 1920
F. & A.
Boston Security Co.
Aug. 1, 1909
J. & D.
Ogdensburg, N. Y.
June 1, 1919
J. & J. N. Y., Union Trust Co. Jan. 1, 1898
J. & J.
I.,ondon.
Jan. 1, 1898
A. & O. N Y., Union Trust Co. Apr. 1, 1911
M. & N.I
do
do
Nov. 1, 1908
J. & D.
do
do
June 1, 1932
Various N.Y.BaringMagoun&Co 10 p. c. yearly.
M. & N.
do
do
Nov. 1, 1919
J. & D.
N.Y Central Tr. Co. June 1, 1936
A. & O.
do
do
Apr. 1, 1937
F. &. A.
do
do
Aug. 1, 1920
J. & J.
New York or Phlla.
July 1, 1922
J. & D. N.Y.,Guar. & Indem.Co. June 1, 1921
M. & N.
do
do
May 1, 1921
J. & J. N.Y., Central Trust Co. July 1, 1926
J. & J.
do
do
July 1, 1938
Boston, OlBoe.
Dec. 1, 1892
M. & 8.
do
Mch. 1, 1694
1895-'96-'97
Various
do
J. & D.
do
Dec. 1, 1897
A. & O.
do
Apr. 1, 1904
J. & J.
do
1904 & 1938
J. & J.
do
July 1, 1894
J. & J. Boston, N. E. Trust Co. Jan. 1, 1910
J. & 3. Int. funded till Jan.,'93 Jan. 1, 1937
J. & D.
New York,
May 1, 1940
do
J. & J.
Jan. 1, 1937
A.
A.
6
6
4
41a
4
7
5
,
In 1891 gross earnings, $706,966; net, $294,715; interest on bonds,
$222,838; taxes, ete., $48,830; balance, surplus, $23,047. In 1890 gross,
$680,972; net, $315,013; interest, $221,400; taxes, ete.. $38,520; surplus, $55,093. George W. Thomp-<on, President, Parkersburg, W. Va.
— (V. 52, p. 831; V. 53, p. 408; V. 54, p. 1046.)
Ohio Southern.— Own Springfield, O., to Wellston, 118 miles, and
branches, 22 miles. E.xten.sions to Lima proposed, V. 55, p. 765.
Stock authorized, $5,500,000; outstanding, $3,840,000— par $100.
General mortgage of 1889 is to the Central Trust Company, as trustee.
E.^KNINGS.- From Jan. 1 to Oct. 31, 1892 (10 months), gross $524,637,
against $476,685 in 1891. Report for 1891 in Chboniclk, V. 55, p. 58.
In 1891 gross $590,241; net, $305,680; interest, $226,800; taxes,
$18,673; construction, equipment, ete., $18,465; balance, surplus,
$41,742. Gross in 1890, $554,390 net, $282,216. N. Y. Office, 47
Broadway. (V. 54, p. 643, 682 V. 55, p. 10, 68, 765.)
Ohio Valley.— Completed from Evansville, Ky., to Princeton on the
Chesapeake Ohio & Southwestern, 99 miles, and extension southerly to
Hopklnsville, 31 miles; branches. 9 miles; leases Princeton to Princeton Junction, 52 miles; total, 191 (uiles. On July 1, 1892, the Lotiiavllle & NashviUe transferred the Clarksville & Princeton branch to the
Ohio Valley, at a yearly rental of $12,040, for a period of 99 years.
V. 54, p. 800.
In 1891 $1,297,500 stock was purchased by the
Chesapeake Ohio & Southwestern, which guarantees the bonds by
endorsement. See wording of guaranty in application to N. Y. Stock
Exchange, V. 52, p. 974. It is expected that the Ohio Valley will be
pushed further south at once. Extension to Hopklnsville completed in
August, 1892. Stock $2,163,000; par, $100. Due C. O. & 8. W. July 1,
1892, $254,103.
In year 1890-91 gross earnings were $270,404 net, $91,217 (against
$65,455 in 1889-90) fixed charges, $75,155; other income, $5,614; balance, surplus, $21,676, against $33,938 in 1889-90. (V. 51, p. 607; V.
52, p. 321, 718, 97'4; V. 53, p. 602, 641; V. 54, p. 800.)
Old Colony (Mass.)- Owns from Boston to Provincetown, Mass.,
120 miles; lines to Kingston, Plymouth, Somerset Junction, New Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I., 249 miles, and
numerous branches 126 miles in ali total owned, 495 miles leases— Boston &. Providence Railroad, Boston to Providence,44 miles, and branches
20 mUes; other lines, 44 miles; total owned and leased, September,
1892, 603 miles.
The Middleborough & Plymouth RR., 16 miles in length, was leased in
53 miles; the Springfield Division, Beardstown to Shawueetown, 111.,
228 miles; New Albany & Eastern, Watson to New Albany, Ind., 7 miles; 1892, and interest on its $225,000 bonds guaranteed. See V. 55, p. 420.
Organization. Etc.— In 1888 Boston & Frovi4ei»ce Eoad (which see)
Bedford Branch, 8 miles; total, 636 miles. Organized November 21,
was leased for 99 years.
1867, after foreclosure sale.
STOCK.— An tnorease of stoclt from $12,000,000 to $15,000,666 wai
STOCK.— Preferred stock is entitled to receive from the net earnings 7 per cent per annum, " and to have such interest paid in full for authorized by stockholders In November, 1889, to pay for new conneceach and every year before any payment of dividend upon the com- tions, etc., and on September 27, 1892, a further issue of stock
mon stock ;" and then, after 7 per cent dividend upon the common was authorized in order to meet the expense fOld Colony's share
being about $1,100,000] of raising the grade of Boston & Providence
stock, the excess shall be divided equally, &c.
B. & O. Alliance Litigation.— In Oct., 1891, a plan of reorganiza- track for four miles, as ordered by the Legislature, and to subscribe to
tion of the finances and control by the B. & O. raUroad was presented additional stock of the Old Colony Steamboat Company, in which it
and in October, 1892, the B. & O. interests obtained % majority of the holds a majority interest. In August, 1892, $200,000 stock was issued.
Bills payable Oct. 1, 1892, $1,200,561; five per cent notes, $200,000.
directors. See V. 53, p. 569.
Bonds.- Authority to issue $2,000,000 retuudiug bonds was granted
In March, 1892, a committee appointed by English shareholders reported that needed improvements call for the outlay of $2,932,000 but the Directors in September, 1892. The report for 1891-92 pointe
out that there will be a saving of $150,000 yoirly in interest charges U
the company's president claims $640,000 to be sufflcient. See V. 54,
the bonis of the system maturing prior to March 2, 1897, shall b«
p. 486, 598.
BONDS.— Of the general mortgage of 1883 $12,142,000 is reserved to refunded, when due, at 4 per cent. (See V. 55, p. 420.) A Providence
exchange for old bonds as they mature. Cyrus C. Hines, of Indiana, and terminal company in which the Old Colony has a one-half interest
has authority to issue bonds for about $3,000,000.
Union Trust Company, of New York, are mortgage trustees.
Dividends since 1876— In 1877 and 1878,6 per cent; In 1879, nil; inEarnings.- From July 1, 1892, to Sept. 30, 1892 (3 months), gross
$1 ,162,218. against $1,182,634 in 1891; net, $391, .->97, against $386,396. 1880 and 1881, 6; in 1882, 6ia; from 1883 to July, 1891, both inANNUAL Ekport.— Fiscal year ends June 30. Eeportfor 1890-91 in clusive, at the rate of 7 per cent yearly in December, 1891 (dividends
changed to quarterly), 29io per cent; in 1892, March, 1%; June, 1%;
V. 53, p. 519.
'"
September, 1%; December, 1%.
1888-89.
1889-90.
1890-91.
1891-92.
Latest Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months),
Gross earnings
$3,955,165 $4,214,747 $4,108,974
14,228,405
Net earnings
$1,019,804 $1,302,274 $1,172,412
11,019,731 gross $2,656,415, against $2,454,739; net, $929,091, against $949,273; other income, .$160,431, against $14,518; interest, rentals and
Interest on debt
$1,047,671 $1,054,245 $1,066,892
einkingfund
65,000
69,000
73,000 V 1,066,350 taxes, $449,085, against $436,935; balance, surplus, $640,437, against
Miscellaneous
$526,856.
80,377
96,600
70,162
Annual Bbport.— Year ends June 30. Report for 1891-92 was in V.
Total
$1,193,048 $1,219,845 $1,210,054 $1,066,350 55, p. 420.
1889-90.
Balance
1890-91.
def.$173,244 sur..$82,429 def.$37,642 def.$46,621
1891-92.
—(V. 53, p. 126, 187, 289, 324, 519, 569, 608, 640, 754, 836; V.54, p. Gross earnings
$8,020,295
$8,376,452
$8,744,812
120, 203, 243, 276, 486, 560, 598, 965, 1009 V. 55, p. 59, 639.)
Net earnings
$2,059,855
$1,906,177
$2,050,426
Ohio Klver.— Road.- Owns from Benwood, opposite Wheeling, Other receipts
135,723
239,054
159,807
West Va., to Huntington, West Va., 21 1 miles tracliage into Wheeling,
iP 3 miles; leases Huntington & Big Sandy RR. (opened Nov. 3, 1892),
Total Income
$2,195,578
$2,145,231
$2,210,233
Huntington to Kcuova, West Va., on the Norfolk & Western's new
$584,605
$563,373
$582,908
Jne, 12 miles operates Bavenswood Spencer diGlenvilloRy., Ravens- Rentals paid
Interest
658,675
696,213
716,949
wood to Lcroy, 17 miles total, 243 miles.
Dividends
(7)844,683
(7) 872,690
(63b) 827,611
The Raveiiswood Speuocr& Glenville is building a line in the interest of
this company fiom Ravenswood, W. Va., to a connection with the West
Total disbursements.. $2,087,963
$2,132,278
$2,127,468
Virginia & Pittsburg Railway, and its Ist mortgage bonds for $400,000
are guaranteed principal and interest. Huntington & Big sandy mort- Surplus
$107,616
$12,955
$82,765
gage is guaranteed (bonds endorsed); $100,000 of the bonds are re(V- 52, p. 239, 718; V. 53, p. 187, 288, 323, 674; V. 54, p. 243, 762,
served for improvoments, etc. Ohio River stock authorized is $6,000,- 800; V. 55, p. 374, 420, 806.)
OOO—outstanding $5,915,430; (par, $100 oar trusts, principal and inOniaha
St. liouls.- Owns road from Council Bluffs ,Ia., to Patterest, $11 3,061
liills payable were $73,500 on January 1, 1892.
tonsburg. Mo., 144 miles. This company was formed in 1887 as suci-rom Jan. 1 to Au'.; 31,1892(8 months), gross earnings were $469,- cessor to the Omaha Division of the St. Louis Kansas City <t Nort'icm
O06, against $431,2:tl in 1891 net, $188,770, against $158,057.
(Wabash), sold in foreclosure.
;
;
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;
;
;
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;
;
;
I
1
;
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—
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o
November
lf93
;
"
RAILEDAD STOCKS AND BONDS.
|
lor
Sabacrlbers will confer a great favor ,br glTlng linmedlaie notice of any error dUcovered In these Table*.
RAILROADS.
Bond*— PrlndINTEREST OR DIVIDENDS.
Miles
For
ox]>lauatloii of coliiinii heailiiiKH, i&a., see notes
ou tirst page of tables.
OranfreBei/— 1st M.,$5,000p.ni.,KolfI,siib.tocall.c*&r
Orange-KeyitvUle— lut mart., 1(115,000 por m. gold..
Oregon if C'a(.—l»tM.,K. ($30,000 p.m. jOr'nut 100. o*
Date
of
of
»'?.""'•
1887
1889
1887
$1,000
1,000
1,000
1880
1,000
1879
1885
1889
1,000
1,000
1,000
153
567
Orel) in Iiii/imveiiient—Seo Mlscni.i.ANKiuft CoMPAN LEH.
Oregnn Pacific— luX M.,!.t,'.,!».f.,K.,'iii5,()00p.in. c*Ar 136
Oregon liaihcay rf- Xaviyation stoc-k
Ist inort. boiids, gold, sink. fd. (diuwi) at 100). .0
—
50
1876
1883
1881
1,000
1,000
1,000
Stock.— Preferred 6 per cent uon-cumulative, $2,220,500; common
$2,313,000 deposited in trust till June 1, 1893; par, both, $100.
BoNi>s.— Five coupons, incluiUng coupon due January 1, 1891, were
funded into 5 per cent bonds, due 1937, but redeemable at option of
company, the new bonds being secured by the coupons deposited in
trust. (See V. 52, p. 81, 391.) See abstract of first mortgage. V. 45, p.
213. In June, 1892, Judge Thayer in the U. S. District ourt, in the
case brought to recover rentals for cars used under the Wabash
receivership, awarded this company damages at $83,613 with interest,
aM:regating about $16,000, from June, 1889. V. 54, p. 968.
From January 1 to Sept. 30, 1892 (9 months), gross earnings (partly
estimated) were $421,822, against $3.i5,693 in 1891.
For year ending June 30, 1891, gross earnings were $525,487; net,
$47,795. In flscal year 1889-90 gross were $654,828 net, $141,083—
(V. 51, p. 786; V. 52, p. 81, 391, V. 53, p. 921.)
(
;
Oranse Belt.— From
Sanford, Fla., to St. Petersburg, 153 miles, 3foot gauge. The bonds are 5-20s, and may be redeemed after Jan., 1892.
They are guaranteed by the Orange Belt Investment Company. In
August, 1892, foreclosur," proc » dings wer,i Instituted against the road
In order to eff -ct a reorganization of its affairs. The jtroc-edings are
friendly, and there will bf no receiver appointed. E. T. Stotesbiu'y,
Philatlelphia, President. (V. 46, p. 245.)
Orange— Keysvllic.—Was under construction from Gordonsvllle
(Junction Chesapeake & Ohio and Richmond & Danville) in Orange
County, Va., to Keysvillc, Va., on the Richmond & Danville, about 95
miles. Road is In the hands of the court and a motion for a receiver
was refused in June, 1891. It was expected that in October, 1891, a sale
of the road would be ordered, and construction soon thereafter resumed.
The suit, it is said, has been a tight for control. Trustee of mortgage is
Farmers' Loan & Trust Company of New York. Stock authorized: common $1,000,000; preferred $700,000; guaranteed preferred, $300,000.
Oreeon &
California.— From Portland, Ore., to California State
365 miles Albany Junction to Lebanon, 12 miles; West Side Division, Portlanil to Corvallis, 97 miles; Woodburu to Natron, 03 miles.
Total, 567 miles. Of the old sixes due July 1, 1921, .$82,000 are yet
out. The land grant was about 4,000,000 acres, part of which Is covered
by the mortgage, proceeds of laud sales going to redeem bonds drawn
at par, unless purchasable lower. Trustee of mortgage. Union Trust
Company, New York. The Southern Pacific Company's guaranty of
principal and Interest is printed on each of the 5 per cents. In 189'2 net
land sales subject to mortgage were 42,224 acres for $242,809 ; cash
receipts, $53,478.
Reorganized In 1887 per plan In Chronicle, V. 44, p. 118, 370. The
road is leased to the Southern Paclflc Company for 40 years from January 1, 1887, the lessee guaranteeing interest on the bonds, and the lessor
receiving any net profit and being charged with any deficit after payment of charges and betterments. The Pacific Improvement Company
owns the bulk of its $19,000,000 stock, $12,000,000 of which is 7 per
cent preferred. In 1891 gross earnings were $2,13 1,349 ; net, $380,089
(against .$496,830 in 1890); total net income. Including interest received, $444,311
fixed charges, .$933,460; deficit for year. $489,147,
against deficit of $259,430 in 1890.— (V. 51, p. 910; V. 53, p. 793.)
;
;
Oreffon Paclftc— Projected from Yaqulna, on Yaquina Bay,
Ore.,
boundary of the State, about 600 miles, of which 136 miles, to
near summit of Cascade Mountains, are completed and in oper.ation 30
miles more wire finished, and 40 miles are ready for the rails. Company
had a land grant of over 950.000 acres of land.
HisToKY.— This railroad was sold in foreclosure January 20, 1892,
Mr. T. E. Uogg having been ajipointed receiv.-r in 1890. R'organiza.
tion was to take place according to plan In V. 54, p. 78. The extension of time, however, for paying thi sum bid at for closure sale, which
was granted in August, 1892, having expired, the Circuit Court of Benton County, Oregf>n, In November, 189^, Issued a decree for a new
sale. The order allows thirty days from Nov. 2 In which the former
purchasersmay pay into (;ourt the sum bid, $1,000,000. S=eV. 55, p.421.
Stock.- Stock is $30,0(X) per mile.
Bonds.— The $15,000,000 old first mortgage bonds were to receive
50 per cent in new 58, with two years' coupons off, 50 per
cent in new Incomes, and for the two years' coupons at par new incomes at 80 per cent face value. New securities not used in the reorganization to be applie<l to the prompt completion of the road to the
eastern portion of the State of Oregon. See plan at length in V. 54, ii.
78. Otlfce, 45 WtUlam Street, New York. (V. 51, p. 458. 609; V. 53.
p. 59, 570; V. 54, p. 78, 159, 367, 447, 845 V. 55, p. 298, 4'il, 806.)
Oregon Railway dc Navigation.—Main Line—East Portland,
Ore., to Huntington, Ore., 403 miles; branches 656 miles; total opei^
ated July 1 1891, 1,059 miles, of which 13 miles narrow gauge. Ocean
line betwexjii San Francisco and Portland, 070 miles.
OiuiAsiZATios.— Leased for 99 years from Jan. 1, 1887, to the Oregon
Short Line & Utah Northern RR.; rental 6 per cent per an. on stock and
Interest on bonds. This lease (see abstract V. 45, p. 539) is guaranteed
by tlie Union Pacific, and the property is operated in the Union Pacific
8.vstem.
In 1889 the Oregon Short Line Co. purchased a majority of
the stock, and on Jan. 1, 1892. owned tliereof $14,348,200, $13,(X)0,"000
being i)ledged to secure Its collateral trust bonds.
Dividends since 1876— In 1879, 2 per cent: In 1880, 8 and 10 scrip;
In 18H1 and 1882, 8; in 1883.10; in 1884, 6ifl; In 1885, 4'a; In 1886,
7 In 1887 and 1888, 6 In 1889, 7 (I per cent being extra out of assets)
In 1890, 1891 and 1892, 6 per cent.
te eastern
;
;
,
:
;
Cent.
J.
M.
(1)
15,000.000
24,000.000
8g.
J.
12,120,000
5,182,000
26,244,853
14,931,000
424,000
1,526,000
1,950,000
4,995,000
1,852,000
1 8,000
13-,000
11,128,000
13,000,000
&
A.
&
Og. A. &
per an.
pal.When Doe..
Sloekt—haet
Dividend.
J.
Jan.
N.
South. Faolflc Co,
J.
J.
tl: M.
«•«•
7
7
7
i«- A.
6
J.
5g.
5g. M.
1,320,400 9 per an.
438,000
7
668,000
5
2,000,000
6g.
F.
M.
M.
M.
A
&
&
&
&
A
&
&.
A
A.
A
A
A
A
A
A
A
O. Apr., '90, coup, last Dd.
Bo8ton,0(^lce,Anu^e.Bld
J. N.Y., Un.Tr.Co.& Bosfn
1,
1,
1,
Nov.
July
July
J. N. Y.,
Oct.
Oct.
Q.-J.
5,05(1,000
100
1882
1,000
1871
1879
1,000
1879
1,000
1878
1,000
1886
1,000
1887
1,000
1887
1,000
1889
1,000
1889 500 &0.
—
vnien Where Payable, and by
Payable
Wnom
Rate per
$700,000
17,045,000
100
Consol. mortgage, gold, .fj."*, 000 per udle
OAr
Collateral trust, gold,rf.def'miiblo at 105
c*
Oregon Short L. <t f/.A'o;-.— .stock, $27,000,000 autU.
Oregon HliortLIuo let mortgage., gold
610
Utah Hoiithern Ist mortgage, eurreucy
Utah So. iiiort., S. Lake to Juab (for $1,950,000) .c 105
Utah South. Extenslou., Ist M., Juab to Frisco.
138
Utah ii Northern Ist mort., $12,000 per mtlo..o* 462
Consol. M., guar., $15,000 p. m.,s. f.not dr'u,g.o*
466
Equipment bonds ($30,000 pa.val)le yearly)
Idaho Central Ist raort. Nainpa to Boise Cil.v ..o*
19
Con.sol. M. (Ist on 201 miles) gold, red. at 105. .0* 1,421
Collateral trust, gold (redeemable at 105) guar.o*
Ottcego d- Jiome—fii.K Ro.iiE Watertown <fe OODEN BBCRQ
Ostcego rf- Syracttse Stock, 9 p. c. guar., D. L. & W.
35
Consolidated mortgage (guar. D. L. & W.)
35
Construction M., guar.prin. &int.(for $1,000,000)
35
Owenslmro rf Nashrille—lnt mortgage, gold
o*
88
Oxford <£ Olarksville— See Richmond & Danville.
line,
Amount
Outstanding
Road. Bonds Value.
do
do
I>.
S.
N.y. Un.Tr.Co.A Bost'n
,
None
paid.
N.Y.,Un.Tr.Co.&B08fn
do
do
do
do
do
do
O.
do
do
J.
do
do
O.
do
do
8.
do
do
A. N. y., Del.
do
S.
June
Sept
do
do
UA
1,
1,
1,
1,
1,
190r
1919-
1987
190O
1892
1909
1925
191»
Feb. 1, 1922
At Co.'s option.
July 1, 1909
W. RR.
do
July 1, 190»
July 1, 1908
JiUy 1, 192*
Apr. 1, yearly.
Jan.
Apr.
Sept
1,
1,
1,
1917
1910-
1919
Aug., 1892
Moh.
1,
190r
N. N. Y., Fami.L.&Tr.Co.
May, 1923
N. N. Y., 120 Broadway.
Nov. 1, 1931.
Bonds.— First mortgage has a sinking fund of $60,000 per year^
Elus Interest on bonds canceled ($96,880 in all In year 1888-89), touy bonds at or below 110, or else draw them at par on January 1.
bonds so paid being canceled. The Farmers' Loan & Trust Co. Is trustee
of the 1st and the consolidated mortgages.
The collateral trust Issued in 1890 (trustee American Loan <& Trust
Company of Boston) provides for the issue of $25,000,000 lionds. The
entire issue (but not less) may be redeemed on seven months' notice at
105 and interest. See abstract of mortgage and of the mortgages securing the bonds pledged in V. 51, p. 243.
Earnings.-Jan. 1 to Oct. 31 In 1892 (9 mos.), gross earnings of
railroads were $3,238,373, against $4,026,236 in 1891 ; net, $822,642^
against $1,285,328. In 1891 gross, $5,673,172 net before deducting
taxes, $1,856,783; taxes, $151,737 rental received, $2,623,306 other
expenses met by lessee (loss on water lines $80,630, interest on Northern Paclflc Terminal bonds $105,000, etc.) $208,688; loss to lessee,
$1,126,948. In 1890 gross, $4,954,711; not, ,$1,018,686.
Oregon Short l.lno
Utah IVortUern.—Owns road from'
Granger, Wyoming, to Huntington, Oregon, 542 miles; branch Shoshone to Ketchum, Idaho, 70 miles; Ogden to McCammon, Idaho, 111
miles Pocatello to Silver Bow, Montana, 256 miles ; Lehi Junction toTlntic, Utah, 54 miles Ogden, Utah, to Frisco, 275 miles
sundrybranches, 117 miles (of which 40 miles narrow gauge); total, 1,425miles. Also leases and controls the Ore. R. A Nav. CS)., which see above.
Oroanization.— Formed In 1889 by a consolidation of the Oregon
Short Line, the Utah Northern and other lines. It is controlled by the
Union Paclflc Railway Co, which operates it under a trafBo agreement,
and owns a majority of the stock.
Capital Stock.— Stock authorized $27,000,000 (par, $100) outstanding $26,244,853, of which Union Pac. Jan. 1, 1892, owned $14,990,703^
pledged as part security for the U. P. collateral trust notes of 1891.
Gross floating debt Jan. 1, 1892, $5,427,314, of which $1,639,531 dueU. P.
Assets— Company's bonds, $2,102,694; accounts receivable,
$.549,186; net floating debt, $2,775,435.
Bonds.— Of its outstanding bonds, company itself owned Jan. 1, 1892.
$2,052,000 consols, $1,988,000 of which had been pledged with the
Union Paclflc for advances, there being then due that company
$4,639,532. The Union Paclflc at the same date owned $12,139,500 of
the company's bonds, so that of the total debt $14,193,500 was not
afloat, $13,456,500 of this amount being held by trustees under the
Union Paclflc trust indenture of 1891, and its collateral trust deeds of
1879 and 1883. For the amounts of each issue so held see U. P.
The consolidated mortgage due 1919 (trustee, American Loan A Trust
Company) Is a first lien on 201 miles and a second on 1,220 miles. 8uffloient bonds are reserved to retire prior bonds when due, and the total
issue on the road in operation is not to exceed, including prior liens,
$25,000 per mile. Bonds may be issued for extensions at $25,000 per
mile (unless a majority of the bondholders object) and additional amountafor terminals and second track, but not exceeding in the aggregate $35,000 per mile of double track. The issue is redeemable (but only as a
whole) on any coupon day at 105 and interest. There will bo a sinkingfund when earnings surtice, but for this no bonds can be drawn. TheUnlon Paciflc guarantees interest on this Issue under a trafSo agreement. See abstract of mortgage V. 51, p. 242.
The collateral trust boudsof 1889 are secured by deposit of 813,000,000 of Oregon Railway* Navigation stock. 'There is a sinking
fund tor this issue, but not less than the whole amount can bo oalleS
for payment, and that only at 105. The Union Paciflc guarantees botli
principal and interest of the collateral trust bonds. Trustee Is American Loan A Trust Co. of Boston. See mortgage abstract, V. 51, p. 243.
Eap.ninos.-January 1 to Sept. 30 in 1892 (9 mouths) gross $5,291,968, against $5,621,903 in 1891; net, $2,105,784, against $2.159,061..
ANNUAL Report.— Report for 1891 In V. 54, p. 719, showed the following:
1889.
1890.
1891.
Average miles operated
1,397
1,404
1,422
Gross earnings
$6,512,345 $7,488,031 $7,574,456
Netoarns.(afterdeduotlngtaxes). 2,628,665
2,334,047
2,783,914
Income from Investments, etc....
449,452
884,165
1,035,652
;
;
;
&
;
;
;
;
Total net Income
$3,078,117
Intcrdst ou bonds
$1,834,879
Sinking fund
15,423
Lossonl'sedlin'siO.Ry.&N.syst'm) 736,206
HlsoeUaneous
201,811
Total
Balance
—(V. 51,
$3,218,212
$2,577,412
201,110
1,789,190
47,182
$2,788,319 $4,614,894
8r.$289,798df.$l,396,682
S3,819,.568
$2,849,854
217,458
1,128,949
34,411
$1,228,672
$109,109-
df.
242,243; V. 52, p. 679, 902 V. 54, p. 719.)
Oaivego & Syracn»c.— Owns from Oswego, N. Y., to 8.rraouse, N.
Y., 35 miles. Lea.sed in 1868 during length of charter arid renewal
thereof to the Delaware Lackawanna & Western Railroad CJomnany for
9 per cent per yearou $1,320,400 stock and interest on bonds.
Oivensboro ic Nashville.— Owns from Owensboro, Ky.,to AdalT'
viUe, Ky., 84 miles; Mud River Branch, 4 mUes. Operated by Louisville A Nashville
Railroad, which owns the $1,156,518 stock:
(par, $100) and $1,200,000 of the flrst mortgage bonds— all these
bonds and most of the stock being pledged under its trust deeds. Ii>
1890-91 surplusoverflxed charges~$'26,100, against $42,136 In 1889-90
Earnings
p. 84, 172,
now
Included in those of lessee.
;
iOS
INVESTORS'
SUPPLEMENT.
[Vol. LV,
.
.
NOYEHBEB,
.
RAILROAD STOCKS AUD BONDS.
1892.]
a«»
confer a great favor by bIvIimc Immediate notice of any error dlecoTered In these Tables.
Bond*—PrlnolINTEREST OR DIVIDENDS.
Miles Date Size, or
Amoont Rate per When Where Payable, and by pal.WbeiiDaak
8loelc»—hm^
of
Par
For explanation of column boadings, &e., see notes of
Outstanding
Subscribers
nrlll
RAILROADS.
on llrst page
Paducah Tenn.
Road. Bonds Value.
of tables.
118
135
135
48
48
48
15
89
2d mortgage,
Panama— Stock
gold, interest guaranteed
o*
o
General mortgage for S, 1 ,000,000 sterling
Sinking fund subsidy boud».,gold, drawn at lOO.o*
Paterson it //mi/.— Stk.,8p.c.perp.rent.N.Y.L.E.AW.
Pecos Valley— 1st raort., gold, $12,000 per mile. .0*
Pennsylvania Stock
General mortgage, $ & £
Consol. M. for $100,000,000, s. fund, not drawn.
—
do (same lien as consol. 6s) gold
do
Bonds (P. W. & B. stock as coUat.) s. f., not dr'n.r
Navy Yard mort. (extended 20 years In 1881) ...v
Collateral trust loan, gold (s. f.
p. c.) not dr'n.o*
Equip. Tr. gold bonds (s. f. 5 p.o.) not drawn. ...o'
Penn. Car Trust (In series payable i|o yearly)....
Equip. Trust (in series payai)le one-tenth yearly)
r
Del. Ave. Market Co. Ist mortgage
1890
1802
1892
1890
1,000
455
455
.42a.— IstM., $20,000 per m., g.o.*
Tennessee Midland 1st M., gold, Interest guar, .c*
it
1867
51873
(1879
1881
1876
1883
1889
1889
1,000
1,006
1,000
1,000
5,000
1,000
1,000
1,000
1,000
5,000
1877
1881
1889
1,000
1,000
1,000
1,000
1,000
100
1867
1880
£200
$1,000
50
50
I
'671
«
—
i;i,ooo
1881-4
•86-91
_
Pennsylvania Company Stock
Bonds, sec. by P. Ft. W. & C. stock (s. f.dr'n at 105.r
Bonds, g., seo. by pl'ge & guar. (s. f. not dr'n)c*4r
Penn. LehigK <t Eastern— Isi M. $5,000,000, gold.
Pennsylvania c6 Northwestern Stock
BeU's Gap 1st mortgage, Bells Mills to Lloyds. o*
0'
Extension Ist mortgage
Consol. mort. (for $550,000) s. fund not dr'n.o*
Cleartleld AJefferson Istmortgage
c*
Penn. & N. W. gen. mortgage tor $2,(X)0,(X>0
Pennsylvania Pouyhkeepsi^ (£ Bost. 1st M., gold.o*
2d mortgage for $500,000, gold
50
_
—
63
8
26
26
37
63
73
73
—
Slatington Valley RR. Istmortgage
50
1873
500
1875
1,000
1883 50<) <S[0.
1886 500 Ac.
1890
1,000
1889
1,000
1890
1,000
1886 500 Ac.
Cent.
WTiom.
Payable
$2,420,000
J. A J.
1,491,000
M. A N.
1.220,000
5 g. J. A J.
7,000,000 See text. Var.
£800,000
l«- A.IOAO.
M. A N.
$2,242,000
630,000 8 per an. J. A J.
987,000
5 g- A. A O.
126,771 ,200 See text. M. A N.
19,997,820
6
See rem.
Sec rem.
27,480,020
6
4,998,000
Bee rem.
i«- J. A J.
7,900,000
5
1,000,000
J. A J.
9,900,000
4>ag. J. A D.
M. A S.
2,791,000
t'- Quar-lj..
1,050,000
4
5,000,000
3,000,000
M. A S.
20,000,000
1,301,000
6
19,467,000
4»flg. J. A J.
4.50,000
5g. A. A O.
2,000,000 See text. J. A J.
166,000
7
J. A J.
F. A A.
83,000
6
156,000
A. A O.
6
1,000,000
6
J. A J.
370,000
5
J. A J.
1,500,000
J. A J.
f «• J. A J.
250,000
61,500
J. A J.
1897
1910
1893
192*
Got.
Nov. 20, 189«
July 1, 1910
June 15, 1906
Sept. 1, 1919
July 1, 1921
Jan. 1, 1901
June 1, 1913
Sept. 1, 191«
1892 to 1898
1892 to 1901
Mar. 1, 1909
For 1883
July 5, 1907
July 1, 1921
ic
Iy<iiiaou.
A lyondon.
Philadelphia, Ollice.
Phila., Pa. Co.for Ins. Ac.
Phila., Co.'s OHIce.
Phila. Oftioe
Phila.
,
Pro vld't L. AT. O.
Phila.,Glr'dLlfeAc. Co.
Plilla.,Provid'tL.Ar.Co.
Phila.,Tr. 8. Dop. A I. Co.
23S So. 4th St.
Pittsburg, Co.'s Onioe.
Phila., Tr. S. D. A I. Co.
N. Y., Nat'l City Bank.
Tr. Co.
N. Y. Security
Phila., Guar. Trust Co.
Phila.. 105 8. Fourth St.
Phila.,
A
Oct.
July
July
do
Ang.
do
Phila., Guar. Trust Co. Apr.
do
do
do
do
Jan.
Jan.
July ,'90, conp. last paid Jan.
Jan.
do
do
July
N. Y., Atlantic Tr.
(»)
& Alabama.— CSc«
onico
192a
1922
Oct. 10,
Not.
July
N. Y., Mercantile Tr. Co.
Pbiladciphla, Olliio.
Piilla.
1,
1,
July 1. 192«
Moh.28, 1892
do
N. Y., 29 Broadway.
N. Y. Oflloc A London.
N. Y., 29 Broadway.
N. Y.. 120 Broa<lway.
do
•
Car trusts
DlTldeiid.
N. Y., Central Tr. A8t.L. July
N.Y.,Cent.Tr.A8t.Loul» May
1,
2,
1,
1,
193»
9,
1,
1893
1898
190S
1918
1927
1,
1,
1,
1,
1,
1,
1,
193»
1939'
1910
191ff-
(3o.
Price of stock.- In Philadelphia (price per $60 share not percentmn
price)—In 1884, 49i4®61; in 1885, 45%'3i66i8; in 1886, 8138a60'4 Inr
1887, 53i3®60; in 1888, 52ia®56i6; In 1889, 50i4«56 In 1890, 47 as*
561a in 1891, 49'8a57ia in 1892, to Nov. 18 Inclnglve, 53*5738.
Bonds.-This company owns $10,890,950 stock of the PhlladelphUk
see V. 55, p. 806.
Wilmington A Baltimore Railroad, and the four per cent bonds of 1921
HiSTOKY.— Connection with Tenn. Midland completed In Sep- are purchased yearly, it obtainable at not over par, with the surplus,
tember, 1892, forming part of a new through line between St. proceeds of Philadelphia Wilmlngtou A Baltimore dividends.
Louis and Mempbis, as well as between Paduoau, Ky., and Memphis
Interest on general mortgage Os of 1867 is payal)le on coupon bonds
and ail Ohio River points. See V. 54, p. 598, 801, 965. Tlie Tennessee January 1 and July 1; on rtjgistered bonds, April 1 and October 1. InMidland is controlled lu the interest of this company, which operates terest on consolidated 6s of 1873 Is payable on coupon dollar bonds
it under a 30 year tratllo contract.
on June 15 and December 15 on coupon sterling bonds, January 1 and
STOCK autliorizod, $5,000,01)0 ($20,000 per mile) outstanding, $2,- July 1 on registered bonils quarterly, March 15, Ac. Interest oa
360,000. BOSDS.— St. Louis Trust Co. is trustee of all three mortgages. oonsoUdated Ss of 1879 Is payalile on coupon bonds March 1 and SepInterest is guarauteod on tiie Teunessee Midlaml l>onds, and tlie bonds tember 1 on registered bonds, quarterly, March 1, Ac.
80 eudorseil. Ou present mileage the Tenn. Mid. bonds are limited to
The collateral trust loan of 1883 is secured tiy the deposit of mortgage
amount now outstanding, but on any extension eastwardly from Ten- bonds of subsidiary Hues to the par value of $12,500,000.
nessee River tlrst raortgiige bonds may be issued at $15,000 and second
Tlie equipment trust bonds of 1889 have a sinking fund of 5 per cent
mortgage at $5,000 per mile of completed road.
yearly, and if bonds cannot be bought at par the sum is to be mvesteA
E.AKNING8.— On Tennessee Midland from Jan. 1 to Oct. 31, 1892 (10
new equipment to be subject to the trust.
month.i), gross earnings were .$157,546, against ,$166,869 in 1891. For
Its guaranteed securities arc bought up by the Pennsylvania Railroad
Tennessee Midland seo also V. 51, p. 830, 908; V. 53, p. 879; V. 54, p Company with 1 per cent of tlie net income yearly, and $7,686,000 SO
598, 681, 801, 965; V. 55, p. 806. Car trusts, 68, April, 1892, $G0,OOO; Suronased were held on January 1, 1892. The sinking fund for consols
Panama.—Owns from Colon to Panama, 48 miles. History.— anuary 1, 1892, held—Consols, $1,771,980; other securities and oash^
Opened through Janmiry 28, 1855. In June, 1881, most of the stock $2,532,833.
was sold to parties interested In the De Lesseps Panama Canal Co. As to
The total cost to the Pennsylvania RailEarnings, Finakcbs,
contract with Paoiflc Mail S8., as modified in August, 1892, see V. 55, p. road Company of the stocks and bonds of other companies held in its
374. DIVIDENDS smce 1881 have been: In 1882, 121a; inl883, 13>a; treasury was, up to January 1, 1892, $114,599,781 (par value of tho
In 1884, 16; in 1885, 10; in 1886 and 1887, nil; in 1888, 26; in 1889, same, $154,319,240), most of which is represented on the other side ot
9 in 1890, 5 in 1891, March, 2 Dec, 3 in 1892, March, 2 p. o.
the balance sheet by Issues of Pennsylvania Railroad stock and bonds
Bonds.—The sterling mortgage Is for £1,000,000, and in fall of 1892 and other debit items.
From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings onr lines
the company proposes to issue the £202,200 bonds remaining In the
treasury. When Issued they will carry an endorsement certifying east of Pittsburg and Erie were $.50,.59S,755, against $19,527,125 In
by vote of the Board of Directors the holder has the option 1891; net, $14,528. .591 against $15,481,053 in 1891. For same periods
that
of having his bond extended from Oct. 10, 1897, to Oct. 10, 1907, on lines west of Pittsburg and Erie gross earnings in 1892 showed aa
at 5 per cent interest, upon notice to the company before July 10, increase of $2,570,613 compared with 1891 and the net earnings »
1897, the bonds so extenderl to be subject to call for redemption at 105 decrease of $202,256. See V. 55, p. 703.
and interest any time after Oct. 10, 1902, on 90 days' notice. The subAnnual Report.- Fiscal year ends Deo. 31. Annual meeting is held
sidy bonds are secured by a pledge of the-sum of $225,000 annual sub- at Pliiladelphia ou second Tuesday in March. The report for 1891 was
sidy payable to the U. S. of Colombia by the company, and are drawn in the Chronicle, V. 54, p. 387, 104, 406.
and paid oil" on November 1, yearly, with any surplus of the subsidy not
A summary of the total business of 1891, compared with previous
needed for interest, $85,000 bonds being paid Nov. 1, 1892. Of the years, is shown in the following
bonds given above as outstanding $273,000 of the 7» and .$409,000 of
SAKNINOS OK ALL LINES BOTH EAST AND WEST OF PITTSBimO AND BKOi..
the (is were on Jan. 1, 1892, held by tlie sinking fund of the 78 of 1867.
1891.
1890.
1889.
Annual Report.—The report for 1891 in Chronicle, V. 54, p. 596, Gross earnings
$122,917,337 $133,5'21,623 $134,254,61%
showing net income, was .$962,234, against $922,500 in 1890, and a sur- Operating expenses
91,819,66<>
92,003,365
83,811,128
plus over interest, sinking fund and other charges of $323,801, against
|348,873. (V. 53, p. 324 V. 54, p. 696 V. 55, p. 374, 503, 723.)
$42,434,959
$39,106,209
$41,518,258
Net earnings
Paterson tc Hudson.- Owns from Weehawken, N. J., to Paterson,
The Income account has been as follows, the " net income " given In
N. J., 13 miles. The road was leased In perpetuity in 1852 at a rental
the first line being the amount of income after deducting interest paldof $48,400 per year, and Is operated by the New York Lake Erie A
INCOME account op pknnstlvanla railroad oompant.
Western as part of its main line.
1891.
1890.
1889.
Pecos Valley.— Projected from Pecos City, Texas, on the Texas A
s
$
$
Pacitic Railroad, via the valley of the Pecos River, to Albuquerque, New
11,030,401
12,257,432
income Penn. RR. Dlv'n
10,870,351
Mexico, on the Atchison Topeka A Santa Fe, about 340 miles; completed Net
-276,45ft
+ 138,712
The Net loss or gain on N. J. Dtv.
-f396,885
In January, 1891, from Pecos City to Eddy, about 90 miles.
1,644
9,135
16,316
mortgage (trustee. Mercantile Trust Company of New York) Is for Loss on Pitts. A Erie Div.
Stock authorized, $5,000,000; outstanding, $1,105,000;
$5,000,000.
11,425,642
11,971,841
Balance
10,992,747
par .$100. Earnings.- From Jan. 1, 1892, to June 30, 1892, gross
Prom this balance deduct
earnings, $61,163; net, $13,892. In year 1891 gross, $91,732; net,
93,498
98,623
87,433
Payments to trust fund
$11,834; interest, etc., $46,702. (V. 51, p. 458.)
324,780324,800
324,800
Consol mortgage redeemed.
Pennsylvania.- ^See Jfnn;— Line of Road The Pennsylvania sys- AUegh.Val.RR.Co.— Deflc'y.
274,062
119,005
160,179
tem embraces about 6,610 miles of railroad, including all east and west Penn. Canal on aco't of int.
188,510
of Pittsburg. At the close of 1891 the mileage operated east of Pitts45,000
bnrg A Erie, on which earnings as reported were based, was divided as Am.88.Co.-To meetlnt.guar
1,632,024
1,510,75»
1,630,913
Extraordinary expenses
follows: Penn.sylvania Division ana t>ranche8, 1,510; Philadelphia A
Erie Division, 546; United Railroads of New Jersey and branches, 515;
2,169,327
2,208,223
2,336,835
total operated. New York to Pittsburg, with branches, 2,573.
9,256,315
9,763,619
8,655,912
Balance to credit ot Income
Organization, Leases, Ac.— The charter of the Pennsylvania Rail- Dividends
(6) 7,495,598
(5) 5,327,270(5ia)6,241,873
road was dated April 13, 1846. The Harrisburg Portsmouth Mt. Joy A
Lancastcrl8 8tilloperatedunderalea.se, though forming part of main lino. To credit of profit and loss.
2,268,021
3,328,642
3,014,442
'The Pennsylvania Companu was organized in 1870 as an auxiliary BaLln set'm't of claims, Ac.
-|-49,01»
-H19,3''0
corporation to control all the lines west of Pittsburg and Erie, the Penn- Expenses of floods June,'89.
1,064,704
-2,609,326
sylvania Railroa<l Company holding all its stock.
Capital Stock.—The Pennsylvania Railroad stock has been in1,949,738
2,317,040
838,687
Balance.
creased from time to time, chiefly by the sale of stock at par to stock- Bal. profit and loss Dec. 31.
22,017,794
24,334,83»
20,068,055
holders, tor the purpose of raising capital for new acquisitions, oto.
876: V. 52, p. 322, 371, 389, 392, 479, 498, 681 V. 53. p>.
(V. 51, p.
In March, 1890, $20,000,000 new stock w.as autliorlzed by stock
180, 345, 447, 507, 605, 702, 867 V. 66, p. 313..
holders for improvements and a<ldltions as required, and the President's 107, 267, 713; V. 54, p.
Pennsylvania Company.—The Pennsylvania Company Is a corremarks on this policy were given In V. 50, p. 392. See Chronicle, V.
chartered by the Pennsylvania Legislature, April 7, 1870, dis50, p. 022, 801. In March, 1892, the stockholders, in view of the state- poration
ment in the annual report, authorized the Issue from time to time of tinct from the Pennsylvania Railroad, and it operates all the leased
$17,450,550 additional stock, this being the balance of the authorized lines west of Pittsburg. Its stock and $2,500,000 4i« per cents aro
owned by the Pennsylvania Railroad Company.
capital stock. (V. 54, p. 447.)
Bonds.— Besides the bonds given above as outstanding $1,839,000
DiviDEVD-s.— In 1883, SMs: in 1884, 7; In 1835 and In 1886, 5; in 1887,
61a; In 1888 and 1889, 5 per cent yearly; in 1890, May, 3 per cent, of 6s and $533,000 ot 4ia8 are held i» the siuking fund.
The 6 per cent bonds are secured by deposit of $1,000,000 of PittsNov. 21a; In 1891, May, 3, either cash or non-Interest bearmg scrip,
convertible into stock till August 1, 1891; Nov., 3 percent; In 189'2; burg Fort Wayne A Chicago special stock. The gold bonds of 1921 ars
scoured by a deposit in trust of tlie leases of the Pittsburg Fort Wayn»
May, 3 per cent; November, 3.
Paducali Tennessee
Jfop;.— Road.—Owns
from Paducah. Ky., to junction with Tenn. Midland at Lcxiugton,
Tenn., 118 miles, and operates the Tennessee Midland RR. from
Memphis, Tenn., to Perryvllle, on the Tennessee River, 136 miles;
total, 254 miles. Extension of Tenn. Midland to Nashville proposed,
;
;
;
;
;
;
;
;
m
Ac—
;
;
;
;
:
;
;
—
—
—
;
;
^
'
no
SUPPLEMENT.
INVESTORS'
[Vol. LV.
<NCENNES
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MAP OF THE
PADUCAH, TENNESSEE
A^
Blount
Spr,
Glen Allen'
^a.^per^
& ALABAMA
K.Cord
AND
TENNESSEE MIDLAND
RAILROADS.
/
BIRJVHNGHAM
Bessemer .^'^ Oxnioor
^
Blocton Jcj
:
1
NOYEMBEB,
la
raileoad stocks and bonds.
1893.]
SiibHcrlbem will confer a great favor by Klvlny; Iniinedlati; notice of any error (Uncovered in tliene Table*.
RAILROADS.
Miles
Cor explanation of column hendlngfi,
on flrst page of tables.
&c., see notes
Pejisacola it AUanHe—Beo Louisville A Nasiivil
Peoria d Bureau Ta/.—Stk., 8 p. 0. rent'l C. E.I.&P.
Peoria Deratnr d Eeansville Stock
1st uiort.(Peoria Div., I'ckluto Mattoon) gold.o*
Ist m. (Ev.'vusv.Div., Mattoon to EvansvlUe,) g.o*
Second raortKage, gold
o*
Peoria c6 Eastern — Stock
Ind. Bloom. & West. 1st mortgage, pref
c*r
Ohio Iudianac<i£ \\'(istern Ist Tnort.,pref., gold. ..c
P. & E. cousol. M. $110,000,000, interest gnar..c
2d consol. mortgage, incoiuc, non-cumulative. ..o
Peoria dt I'chin Pnion— Ist mortgage, gold
c
2d mortgage, gold
o
PerA'«)m«n— 1st M.,eer. I (Istl'n) gu. by P.&R.,g.c"
let M., ser. 2 (2d
I'n) g.,
guar, by P.
&
R. (end.) .c*
Geu. M., g.,gimr.by Fa.RK.($."),2(i3,000 g., 58).c&r
QenA^al mortgage, gold, guaranteed
r
Phila. aerm. it Chestnut Hill— l»tM., gu. by Pa. RR.r
Phila. Oerm. ,t Norrisf ii—SVk 12 p.c.rent.,P.<ltR.RR.
Phila. Barrlsburg dt Pittsburg— lat mort., gold.c*Ar
Size,
47
$100
100
iio
135
238
202
342
202
202
20
20
38
38
59
59
59
59
59
79
79
287
40
287
287
7
29
44
1880
1880
1886
1,000
1,000
1,000
100
1879 100 &o
1888 500 &o.
1890
1,000
1890
1,000
1881
1,000
1881
1,000
1887 100 &c.
1888
1,000
100
100
1809 500 &c.
1881
1,000
1881
4,000
50
1881
1,000
50
1869
1869
1883
1,000
1,000
1,000
1,000
1890
50
;
;
;
;
(V. 50, p.
353, 423; V. 51,
p.
609; V. 52,
p.
351; V. 53,
p.
<i41.)
Pensacola & Atlantic- See Louisville A N.isiiviLLE.
Peoria ic Bnrean Valley.— Owns from Bureau Junction
to Peo-
m., 47 miles. The road was leased In perpetuity April 14, 1854, to
the Chicago Rock Island A Pacific Railroad at a rental of $125,000 per
ria,
annum.
Peoria Decatur
EvansvlUe.- C5ce Map
BvansviUe
Terre
naute.)—Owiia from Pekin to EvansvlUe, 235 miles; Itranch, 6 miles;
leases, Pelrin, 111., to Peoria, lU., 10 miles; througli Decatur, 3 miles;
total, 254 miles. This road is a consolidation of the Pekln Lincoln ,&
Sc
<e
A Southern and the GrayvlUe & Mattoon. It Is operated In harmony with the Evansville A Terre
Haute.
From July 1 to October 31, 1892 (4 months) gross earnings were
$316,078, again.st $294,098 in 1891 net $158,080.
Report for year ending June 30, 1891, in V. 53, p. 711. Gross earn
Ings $833,467; net $363,554; total fixed charges and taxes, $377,081;
deficit, $13,526, agalust a deficit of $25,240 in 1889-90. (V. 51, p. 570,
«T9; V. 53, p. 711.)
Peoria ie, Eastern.—Owns from PeWn 111., to Indianapolis, Ind.,
•202 miles, and has a lien of $5,000,000 on Springfield Division, Indianapolis to Springfield, Ohio, 141 miles; trackage, Pekin to Peoria, 9;
total operated, 352 miles. This road is operated by Cleveland Cincinnati Chicago & St. Louis.
History, Lease, Etc.- The Ohio Indiana A Western was sold in foreclosure Feb. 20, 1890, and reorg:vnized per plan In V. 49, p. 616. Its
Decatur Railroad and the Decatur Mattoon
;
pal. When
Amount
$1,500,000 8 per an.
8,400,000
1,287,000
6g.
1,470,000
6g.
2,088,000
6g.
10,000,000
1,000,000
"i'
500,000
5g.
8,103,000
4
4,000,000
4
1,49.5,000
g.
4%.
1,499,000
799,600
1,125,000
5
g.
F.
J.
A A
A J.
& S.
J.
&
&
J.
do
do
do
N. v., Drexel, M.
do
A
Co,
do
O.
do
do
April 1
N; v., when earned.
Q.— F. N. y.. Central Trust Co.
M. A N.
do
do
Phila., Pa. Co. Ins. on L.
^^t:
Q.-M.
AA015
Dividend.
Aug., 1892
Jan.
Sept
Nor.
do
Due.
AVorA-s— LaHt
& Pao. BE.
N. Y., Central Trust Co,
Q.-J.
A.
A J.
A J.
A J.
A J.
A O.
2,495,6.50
2,075,000 4i;s'A5 m! AN.
10,375,000 2 on com.
976,000
7
A. & O.
13,943,000 5 g.A 6 g. See rem.
4,755,000
4g. A. A O.
1,000,000.
44 m. a n.
2,246,900 12 per an
2,000,000
5g.
N. Y. ,C*.B.I.
M.
M.&. N.
960,800 See text J.
323,500 3 per an. J.
149,000
8
J.
693,000
S
J.
800,000
A.
6
1,000
18.57
A Chicago and the Cleveland & Pittsburg railroads and are also guaranteed as to principal and interest by the Pennsylvania Railroad (Jompany, and are so endorsed the trustees of tiie uortgage aro W. H.
Barnes. John P.Green and Henry D. Welsh. In 1892 the company
guaranteed certain Pittsburg Cincinnati Chicago A St. Louis bonds—
eee that company.
Eahsings.— The total mileage operated or controlled by this company
Is 4,037—operated directly t)y Pennsylvania Co. 1,136 miles.
The
Income account has shown the following results after payment of all charges: deficit in 1884 of $710,220; deficit in 1885 of
$1,094,671: dettcit in 1886 of $200,671; in 18S7, net protlt $675,516;
In 1888, loss, $74,891
in 1890, net
in 1889, net profit $727,802
profit $1,081,958; in 1891 net profit $1,725,938. (Vol. 50, p. 590; V.
33, p. 31; V. 54, p. 38T, 404, 406, 444, 525; V. 55, p. 6T, 161.)
Pcnnvylvania liChleh Sc Eastern.—Chartered to build from
Tomhickers, Luzerne County, Pa., in the anthracite coal district, to
Port Jervis, N. Y., 109 miles; branches, 25 miles. Stock authorized,
$10,000,000 par, $50. (V. 55, p. 463.)
Pennaylvania & IVorthiveittern.— Owns Bellwood, Pa., to
Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total. Including other branches. 73 miles. A consolidation January 1, 1890, of
the Bells Gap and Clearfield A Jefferson roads. Dividends have been— In
1890, 5percent;lnl»91, 5; in 1892, Jan., 2'3; July, 3. Of the $2,000,000
general mortgage bonds authorized, sulflcleut are held to retire the
prior issues, when due. Five per cent car trusts iliie 1893 to 1902, $473,000, duo $50,000 yearly on March 1. In April, 1891, it was voted to Increase the stock from $1,660,000 to $2,000,000, for double-tracking, Ac.
Gross earnings in 1891, $860,332; net. $253,343; surplus over
Interest, $149,531, against $144,320 In 1890. E. J. Berwlnd, Pres't,
Philadelphia.— (V. 50, p. 37.)
Pennsylvania PouKbkeepsle ic Boston,—Operates from
Slatlniiton, Pa., to Campbell Hall, N. Y., 96 miles, of which throe
sections, aggregating 44 miles, belong to other companies.
Con
nects with lines running to the Poughkeepsie Bridge. Couii>leted In
November, 1889. Trustee of 1st mortgage of 1889 Is the Holland Trust
Co. Interest was defaulted January 1, 1891. and in i^bruary, H. H.
Kingston, of Philadelphia, was made receiver. Receiver's certificates
for $200,000 have been issued to pay otT oar trusts. Capital stock,
#2,000,000; par, $50. Floating debt July 1, 1891, $1,444,983. In
April, 1892, operation of ro.ad was undertaken by Philadelphia A
Reading, which, it is said, will ultimately control or lease it In
calendar year 1891 gross earnings were $178,569; deficit under operating expenses, $101,023. President, W. W. Olbbs, 411 Walnut Street,
Philadelphia.
/{»?»/«— Prlnol«
INTEREST OB DIVIDENDS.
or
Par
Bate per Wlien Where Payable, and by
Road. Bonds Value. Outstanding
whom.
CenL Payable
—
.Petersburg— BtoQ^
Guar. prof, stock, 3 per cent, lien prior to mortg.
1st mort. (iiayablc $25,000, due yearly Jan. l)c,tr
Mort. bomfa, cl.asa A, $200,000 reserved for let M.
Mortgage bouds, class B
Philadrlphia rf- Kallimore Cfji/r«i— Stock
Gen.M. (nowlstM.)for$2,50O,000,$l,075,0004'ss
*»A«n. <« Brie— Stock ($2,400,000 is 7 p.o. special pr.)
Bunb. & E. 1st mort. (exteiidod in IS77)
cJtr
Date
of
of
1,
1,
1,
1930
1920
192«
Jan. 1, 1900
Apr.
Apr.
Apr.
Feb.
1938
1940
1990
1921
Feb.
1921
Jan.
1918
Jan.
1918
July
1892
July, 1892
1,
1,
1,
1,
1,
1,
1,
1,
do
do
Richmond.
do
Rlohm'd and Petereb'g. Jan.,1893-'98
do
do
July 1, 1926
do
do
Oct 1, 1920
Phila., Penn. RR. Co.
Phila. Of., 233 8. 4th St
Phila., Pcnn. KR. Co.
Piiil., Pa. RR. & lyondon.
Phila., Penn. RR. Co.
Pliila.,Penu. RR. Oflice.
Phila., Treasurer of Co.
Phila., C'omp'y'8 otUce.
Nov. 1. 1911
Moh. 15,1893
Oct
July
July
May
1,
1,
1,
1,
Dec. 4,
Oct
15,
1897
192p
1930
1913
1893
1936
1892, gross earnings were $1,833,143; net, $523,434 (against $235,206
in 1890-91); Interest on bonds, .$419,120; rentals, <to., $35,399:
surplus, $68,915. (V. 53, p. 344; V. 55, p. 461.)
St Pekln Union.—Owns from Peldn to Peoria, 10 miles on
Illinois River; total operated 20 miles. The road Is a union
and the stock of $1,000,000 was taken by the dllTerent Peoria RR.
companies, and they pay a rental for the u.se of the rood and also pay
Peoria
each ^do of
road,
terminal charges. See full description in V. 36, p. 253. Receipts In
1891-92, $598,086; net $207,227; paid interest $157,155; dividends,
(4 per cent) $40,000; betterments, $5,663; balance, sui plus, $4,409.
—(V. 53,
p. 22.)
PerKIunien.— Owns from Perklomen
Junction, Pa., to Emaus Junc39 miles. Stock subseription, iB38,040. Reorganized in 18S7.
due Philadelphia & Reading RR. on loan account upwards of
$900,000. In year ending November 30, 1891, gross earnings were
$269,393; net, $101,3'24; Interest, $96,230; surplus, $5,611,
Petersburg.— Owns Petersburg, Va., to Garysburg, N. C, 59 miles
rents Garysburg to Weldon (Seaboard & Roanoke), 2 miles; total, 61
miles. Reorganized in 1877 without foreclosure.
Dividend in Jantion, Pa..
There
is
;
uary, 1892, 3 per cent
;
in July, 3.
From July 1, 1892, to Sept 30, 1892 (3 months), gross earnings
were $126,174, agst $118,391 in 1891; net $56,593, against $56,010.
In year ending June 30, 1892, gross earnings were $526,458; net,
233,719. In 1890-91, gross, $527,644; net $193,794. (V. 50, p.
t 12; V. 53, p. 8T9.)
Philadelphia & Baltimore Central.— PliUadelphla to Westohester,2G miles; Westchester Junction to Octoraro, Md., 46 miles;
leased Chester Creek Railroad. 7 miles; total operated, 79 miles. The
Philadelphia Wilmington A Baltimore Railroad holds practically all
the $2,495,650.stock, and operates the roml as part of its system. In
1890-91 gross earnings, $972,014; net, $206,448; surplus above
charges, $54,206.
Philadelphia ic Erie.— Like of Boao.—Owns road extending
from Suubury to Erie, Penn., 287 miles.
Organization, Lease, Ac— Formerly Sunbury A Erie. Leased to
Pennsylvania RR. Co. for 999 years, and actual not receipts paid as
rental. Pennsylvania RR. owned Dec. 31, 1891, $3,501,800 common
and $2,400,000 preferred stock and $3,823,000 general mortgage
bonds, and the city of Philadelphia (sinking fund) $2,250,000 common
stock.
Stock.- Capital stock—Common, authorized, $10,000,000 outstand$7,975,000; preferred, special, 7 per cent, $2,400,000 par, $50.
Dividends. On co-nmon stock 2 per cent was paid in Marcli, 1892.
Bonds.— The general mortgage is guaranteed by the Pennsylvania
RR., and tlie Interest on the Os is paid J. A J., on the 5 per cents A. A O.
L,VTEST Earnings.-January 1 to Sept 30, 1892 (9 months), gross,
$3,800,025, against $3,803,058 In 1891; net $1,091,611, against
;
ing,
—
;
$1,400,990.
ANNUAL Report.—The report
showed earnings as follows
for
1891 In Chronicle, V. 54,
p. 365,
1888.
1889.
1890.
1891.
Gross earnings
$4,373,042 $4,689, 137 $5, 1 13, 787 $5,201,361
Expenses (lucl.aU taxes). 2,733,088 2,928,744 3,415,595 3.516,391
Net earnings
Total net Income
Interest on debt
$1,639,954 $1,760,393 $1,698,192 $1,684,970
$1,655,850 $1 ,778,573 $1,716,440 $1,702,985
$1,168,176 $1,034,470 $1,034,470 $1,042,470
Interest on .special stock.
168,000
168,000
168,000
168,000
Interest on equipment...
168,404
174,920
183,614
156,003
Extraordinary expenses
323,331
Organization expenses...
8,000
8,000
8,000
8,000
Total disbursements. $1,512,580 $1,708,721 $1,394,084 $1,374,473
Surpl us
$143,270
$69,851 $322,356 *$328,512
* A dividend of 2 per cent on common stock was paid in March, 1892.
-(V. 50, p. 374 V. 52, p. 278 V. 54, p. 865, 406.)
Philadelphia Germantown Sc Chestnut Hill.— In Philadelphia from Germantown Junction, on Ck)unecting Railway, to Cliestnut
Hill, 7 miles.
From May 1, 1883. leascil for 30 years to the Pennsylsuccessor, tlie Peoria A Eastern, is leased till April 1, 1940, to the Clevevania Railroad Company, which guarantees 4ia per cent on the Iwnds.
land Cincinnati Chicago & St. Louis, which guarantees the interest but
Rental, net earnings.
Pennsylvania Railroad owns $999,750 of
not the principal, of the first consols, and owns nno-half the $10,000,000 the
$1,000,000 stock (par, $50). Gross earnings in 1891. $248,754; net,
stock, par $100. If the Peoria & Eastern's earnings added to tlie net in- over
expenses and ta.xes, $83,917 (against $62,317) ; Interest, $45,000;
come (up to $200,000) over operating expenses of the Springfield Divi- rentals, etc., $4,330.
sion of the Ohio Indiana A Western exceed the sums necessary to
Philadelphia Germantoivn Sc Norrlstoivn.— Philadelphia,
pay the Peoria & Eastern's fixed charges and to reimburse the Big Four
for all advances up to that time, the surplus is to go to the second .con- Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles ; Plysolidated incomes, and then it a surplus remains this is to go to the mouth RR., 9 miles other, 4 miles total, 34 miles. Leased November
10, 1870, to Philadelphia A Reading Railroad for 999 years at a rental
Peoria A Eastern Itself.
Bonds.— The consolidated mortgage of 1890 covers, besides the road of $269,623 and $3,000 yearly for organization expenses.
•owned, the $5,000,000 purchase money lien on the Springfield Division.
Philadelphia Harrlsburs
Pittsbure.- Owns from Harris'
See abstracts of the consohdated mortgage and of tlie consoliilated burg. Pa to Shippensburg, on the Western Maryland Railroad, 41 miles,
Income mortgage in V. 51, p. 246, and of Ohio Indiana A Western mort- with blanch, 3 mile. Opened in April, 1891, and leased for 999 years
gage, V. 47, p. '201. Due lessee Julv 1, 1892, $199,063.
to the Philadelphia A Rea<ling, which by endorsement on each bond,
Earnings.— From July 1, 1892, to .Sept 30, 1892, (3 months), gross guarantees the bonds, principal and interest Trustee of mortgage is
earnings were $474,378, again.st .$506,255 iu 1890-91; net $112,794, Pennsylvania I'ompany for Insurance ou Lives, etc. Tlie rental is
a«ainst $151,382; interest rentals, etc., $110,405, against $113,667;
200,000, which pays Interest on iwnds and 5 per cent on stock. Stock,
.balance, surplus, $2,389, against $37,714. In year ending June 30,
f2,000,000; par, $50. (V. 51, p. 383, 459; V. 52, p. 124, 643.)
;
;
;
;
&
,
113
INYESTORS' SUPPLEMENT.
[Vol.
LV
:
NONEMBER,
.
RAILROAD STOCKS AKD BONDS.
1892.]
iia
Subscribers will confer a great favor by elTlng; Immediate notice of any error discovered In these Tables.
RAILROADS.
Miles
For explanation of column hoadluga,
on first page ot tables.
&o., see notes
Date
Deferred incomes (coming after
$
<fe
327
327
327
327
.o*
o*
c*
c*
1871 20() Ac.
1873
1,000
1882 500&C.
1888 l,000&o
1888
1,000
1888
1,000
1888
1,000
1891
1,000
1892
1,000
1892
1,000
1892
1,000
1892
(»)
1882 so' Ac. 25,568,090
1883
1,000
200,000
1884
1,000
204,000
1887
1,000
600,000
1890
1,000
2,080,000
1891
3,485,306
•7iJ-'84
500 &0.
500 <&0.
Philadelphia ic Heading.— CSee Map;— Link op Road— Owns
line, Philadelphia to Mount Carbon, Pa., 98 miles; branches
owned, 229 miles leased lines, 552 miles; roads controUed, 293 miles;
total operated November, 1891, 1,173 miles.
In September, 1892, the Port Reading RR. (which see) was completed.
It extends 20 miles from Bound Brook to Staten Island Sound (near
New York) where extensive terminals will be established.
Control of the Poughkeepsie Bridge system was acquired in February, 1892. See Philadelphia Readiug & New England and V. 54, p. 203.
The Central RR. of New Jersey and the Lehigh Valley RR. also were
leased early in 1892, and on Sept. 1, 1892, theXehigh VaUey opened a
new line to Buffalo, but In August. 1892, the Central was ordered by
the court to take possession of its road — see below.
A through connection with the Pacific via the lakes and the Great
Northern RR. was secured on Sept. 1, 1892, by consolidation of the
Lehigh Valley Transportation Company with the Northern SS. Co.,
:the Great Northern Ry's lake connection. See V. 55, p. 322.
A large Interest in the Boston & Maine and New York &, New England railroad companies passed under the control of Reading parties
main
;
,
m
October, 1892. See V. 55, p. 704, 723.
History, Leases, &c.— The Philadelphia & Reading Company was
chartered April 4, 1833. Itleases anumber of roads
Pennsylvania;
«lso, the North Pennsylvania Railroad and Delaware & Bound Brook,
forming the line from Philadelphia to New York.
la May, 1880, receivers were appointed and held possession till May,
1883. In June, 1884, the company again went Into receivers' hands,
and 80 remained tiU January, 1888. In February, 1886, the DrexelMorgan syndicate elTected a reorganization without foreclosure. (See
?lan Chronicle V. 43, p. 747). The voting trust expired August 1,
m
V. 55, p. 100.
In February, 1892, the Central RR. of New Jersey and the Lehigh
for 999 years, both properties being operated
directly by the Reading, which guaranteed the dividends on their
etock. At the same time an interest in the Delaware Lackawanna &
Western was acquired by parties interested in the new arrangement,
and Mr. Maxwell, Vice-President of the Reading, was elected to the
same office in the D. L. & W. With the Lehigh Valley was secured,
through lease and stock arrangement, the control of the Lehigh Valley
Coal Co. As to the legal proceedings regarding the leases see references to Chronicle below.
In August, 1892, Chancellor McGill, of New Jersey, decided against
the legality of the lease of the C-'ntral of New Jersi-y, and ordered that
company t» take possession of its property, which it did. Even if sustained by a higher court it is said this decision wiU not materially aff>ct
the relationsliip of the companii s, since friends of tlie Reading
own a controlling interest in the Central of New Jersey, and a contract
has been mad- wnich will accomplish the same results as thu l- ase.
8ee the decision in V. 55, p. 332, 374. Appeal was taken in October,
VaUey RR. were leased
1892.
1,512,700
954,000
79,000
2,700,000
18,811,000 «
P 364,000
5,767,042
40,373,000
23,971,000
16,176,413
18,464,000
6,000,000
2,000,000
700,000
1,220,000
4
4
4
A. 4
7
g. 4 7 J. 4
6g. A. 4
5g- M.4
4g. J. 4
6
J.
J.
J.
6
4>9
ft
O.
D.
O.
N.
J.
Feb. 1
Feb. 1
Feb. 1
K-
5«.
5K.
5g»K.
5
J.
J.
J.
Q.— F. PhUa., ProT.
F.
M.
g.
5g.
J.
4
4
4
A.
V. 55, p. 639.
A traflic agreement with the Buffalo Rochester 4 Pittsburg was made
In May, 1892. See V. 54, p. 799.
COAL Properties.—The PhUadelphla & Reading Coal 4 Iron Co. was
formed (Dec. 12, 1871,) for the purpose of owning and working the extensive coal properties of this company The Philadelphia & Reading
RR. Co. owns all the .stock ($8,000,000) of the Coal & Iron Co., and had
invested in it November 30, 1891 (as per balance sheet), $69,453,181
over liabilities. The estates of the company aggregate upwards of
194,000 acres, classified as follows
Coal lands o^vned (acres). ...95, 144 Timber lands owned (acres) 70,489
Coal lands leased (acres).... 7,429 Iron ore lands (acres)
21,000
1
Dividend.
PhUsdelpbla 4 London.
PhUa., Ot., 227 8. 4th St.
do
do
do
do
do
do
do
do
do
do
do
do
5 p. ct. paid. Feb., 1892
4^9 p. et paid Feb., 1892
do
Life
July, 1910
July, 1910
July, 1910
Oct. 1, 1898
June
1911
18971922
Jan.
1958
Jan.
1958
Jan.
1958
Jan.
1958
May
1941
Feb.
1902
May 20, 1942
July 1, X942
Oct.
May
4 Tr.
do
N.
Pblla., Guar. Trust.
J.
Philadelphia.
1,
I,
1,
1,
1,
1,
1,
1,
1,
5
6
6
6
5
Irredeemable.
F18AA15 PhUa., Union Trust Co. $200,000 y'rlT
do
do
102,000 y'rly
Phlla., Fidelity Tr. Co.
120,000 y'rly
PhUa., Prov't Life 4 Tr. 300,000 y'r y
5K.
M.4 8.
\-f.
(»)
2,052,090
4 R. Coal & I. purchase money & real estate M.
guar, extended In 1892, gold.
Do
do
892.
£
1,000
1857 500 &c.
1868
1,000
stocli)
Car trust. Series A, $100,()00 duo each F. & A.
Car trust. Series B, $51,000 due eacb M. & 8
Car trust. Series C, $30,000 due Q.—M
Car trust. Scries D, $75,000 due Q.— F., gold
Equipment notes
Mor^ages on real estate
P.
$50 $40,105,361
1843
1844-9
Bonrf*— Prlncl"
Dua,
Blocks— loMi
pal. When
Amount
Par
of
—
Philadelphia <t Reading Stock
Ist mortgage, $and S,
o
Mortgageloansof 1844, 1848 and 1849
c
Mortgage loan of 1857 convertible
c
Mortgage loan of 1808
mortgage ($8,162,000 are gold 68)
CODBOl.
o
fmpr'tM., K.,8.f. drawn at 100. See V. 48, p.260.0
Consol. M.of 1882, gold, stamped, pay. atnotloe.o"
General mortgage ($100,000,000), gold
o*4r
Istpref. Inc. M., not cum. ($24,400,000) gold...o*
2d pref. inc. M., not cum. ($22,500,000) gold. . .0*
8d pref. inc. M., not cum. ($5,050,000 conv.) g..o*
Terminal M., gold, gu. by P. & R. Term. RR..c**r
Ten-year minktng fund gold loan, red. at 100... c*
Delaware River Terminal Pur. Money M., gold.o*
Delaware River Tenu. Ext. Pur. Money M., g..o*
Collateral trust bonds (tor $10,000,000)
INTEREST OR DIVIDENDS.
Size, or
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding Cent
Payable
WTiom,
of
3,647 Various
12145,106
«fr Seml-an
{
PMla., Of., 227 8. 4th St.
do
do
n
1892 to 1904
Various, 1897
aU sourcea, after paying operating expenses, taxes and existing rentals,
guarantees and interest charges (fiut not fixed charges of the same sort
subsequently created)
also, after deducting expenses of " renewing,
replacing and repairing its said property and premises, including suoli
reasonable improvements thereof and additions tliereto as shall be necessary for the sate, proper and economical operation of the same."
;
(V. 47, p. 256.)
In February, 1889, the first and second preference bonds received full
and the third 212 per cent. In 1890 only % ot 1 per cent was
first Incomes; In Feb., 1891, nU; in Feb., 1892, 5 per cent
on firsts and 4ie p. ct. on seconds.
The terminal mortgage bonds for the construction of the Terminal
ER. are the Reading's own bonds, and are guaranteed by the P. 4 R.
Terminal RR. Co. They are also secured by a mortgage upon all the
property of the Terminal Company and by a trattlo contract between
Reading and the Terminal Co. The trustee is the Provident Life 4
Trust Co. of Plula. Amount authorized, $8,500,000. See V. 53, p. 391.
The ten-year sinking fund loan due 1902 is secured by $2,196,000
ooal land mortgage bonds deposited with the Penn. Co. for Insurance,
4o., the trustee. Thebonds are subject to call at par and interest.
The Delaware River Terminal and Terminal Extension mortgages
were issued to provide funds for acquiring water front termiual property upon the Delaware River in the City of Philadelphia. Tlie bonds
are the direct obligation of the Reading and it is said represent the
actual cost of property in the business centre of Phlladelpia.
Of the collateral trust bonds of 1892 the President's report said:
"Arrangements have been completed for malting provision for all
necessary betterments, new equipment and additional propertv which
win be hereafter required, by an issue of $10,000,000 collateral trust
bonds, bearing 5 per cent interest, which are unused and unpledged,
and the proceeds will be expended only tor the improvement of and
additions to the present mortgaged estates." V. 54, p. 1 18.
The deferred income bonds have no claim for payment of the prinot
pal, but after 6 per cent has been paid on Reamng stock they are entitled to further earnings up to 6 per cent, and thereafter rank pari passu
with common stock. Although the nominal issue of these deterred uouds
was $34,300,000 and the "nominal par" value of bonds as given by
the annual report is $25,568,090, the company's Uability on the same
Is put at $7,670,427. V. 54, p. 329.
General Finances.-The alliance ot this company in 1892 with the
Central RR. of N. J. and the Lehigh Valley brought under one management a large proportion ot the anthracite coal production of the country, and had an Important effect on the company's earnings. The
alliance with the Boston & Maine, also in October, 1892, was expected
to increase the market for the Reading's coal. In September, 1892,
$1,891,000 general mortgage 4s were issued for Improvements, eto.
Seven per cents for $2,700,000 mature Oct. 1, 1893.
Latest EARNiNos-The earnings of the Central RR. of New
Jersey and the Lehigh Valley are not Included in the foUowing
statements, but will be found under their own heading.
The results of operations of the railroad and the Coal & Iron Company for the first ten mouths of the fiscal years 1890-91 and 1891-92
were as foUows, the combined result being a surplus for the ten mouths
of $2,458,933, against $1,156,724 In 1890-91.
interest,
paid on the
Railroad Company.
Dee.ltoSept.30.
1890-91.
1891-92.
Gross receipts. $17,656,526 $18,734,872
Neteamings... $8,008,234
$8,527,233
Othernetreo'ts.
352,374
436,708
Coal & Iron Compant.
1890-91.
1891-92.
$16,218,658
910,740
$17,677,853
1,458.418
$910,740
$882,342
680,000
$1,458,418
I
|
Total area (acres)
194,062
Capital Stock.—Tlie dividends paid on Philadelphia & Reading
etock from 1870 to 1875, inclusive, were 10 per cent each year; in 1876
2^4 per cent was paid and nothing since. Third preference bonds for
^,050,000 were couvtrtlble into common stock.
Price of Stock in New York.— In 1883, 46i4®61i8 in 1884, le'e
®60»8 in 1885, 13®26; in 1886, 18i3a73''8 in 1887. 34371% in 1888,
44ia®69; in 1889. 36®50 lnl890, •2,6H'3>4»^; in 1891, 2578®43%;
in 1892, to Nov. 18, inclusive, 38®65.
Bonds. —The consolidated 58 ot 1882 are payable at par at any time.
Company guarantees bonds of the Philadelphia Harrlsburg & PittsIrarg, the Philadelphia Reading & Now England and various other
oompanles, and on June 15, 1892, $11,479,000 of the bonds of the P.
;
;
;
;
4 R. Coal & Iron Co.
The general moW^a^e, and first, second and third preference income
(trustee of all, Pennsylvania Company for Insurance on Lives, etc., of
Phlla<lelphia) cover in addition to the 327 miles of road owned tlie title
to leased lines (mo.stly leased for 1)99 years) all real estate, rolling stock
and vessels ot the company, $8,000,000 Phlliulelphia & Reading Coal 4
Iron Company stock, as weU as the real estate of that company, and
subject to a mortgage to Philadelphia & Reading Railroad Comiiany
dated July 1, 1874, stock in other coel and iron companies. An ab
stract ot the general mortgage was in the Chronicle, V. 46, p. 679, and
of the preference income mortgages in V. 47, p. 141 and 142. The
third preference convertible bonds were issued in exchange for the
old convertible 78. They are stamped with an agreement making
them convertible at option of holder into com. stock. See V. 50, p. 276.
In the income mortgages net earnings are defined as the profits of the
railroad company for each fiscal year ending Nov. 30 derived from
Total net inc. $8,360,608
Improvements.
$8,963,941
$129,137
$434,588
6,117,694
6,250,000
Tot.deduct'n8 $6,552,282
$1,808,336
$6,379,137
$2,584,804
Prop.y'rsch'ges
Balance
$914,287
670,000
$1,562,342
$1,584,289
def.$651,602 def.$125,871
held
Annual Rei-ort.- Fiscal year ends Nov. 30. Annual meeting is
second Monday in January. Report for 1890-91 In V. 54, p. 118.
Years ending Nov.
Passenger traffic
30—
Coaltrafflo
Merchandise traffic
MisoeUaneous
United States maU
Income from stks. 4 bds.,
from steam colliers, &o.
1888-89.
$3,639,546
8,954,004
5,938,976
420,448
65,640
1889-90.
$3,898,291
9,305,536>
7,210,380 (
448,480
71,830
1890-91.
$4,045,862
i^oKnnao
I'.-sao.osi*
482,694
75,182
1,518,761
1,231,963
1,257,307
$20,537,375
12,396,706
$22,166,450
13.901,188
$23,111,109
13,176,631
Net earnings RR. Co..
NeteamingsO. 4LCo....
$8,140,669
df.147,850
$8,265,262
df.151,158
$9,934,478
482,665
Total net both Co's....
Rentals RR. Co
$7,992,819
2,842,319
4,085,139
826,523
354,084
$3,114,104
2,830,744
4,351,312
822,126
340,107
$10,417,143
2,838,351
4,502,882
815,526
395,423
$8,344,289
$8,552,182
Total earn'gsRR. Co..
Operating expenses
Interest RR. Co
Interest Coal 4 Iron Co...
Sinking fund Coal
4 1. Co..
Total deductions
Balance, both companies,
$8,108,065
def.
$115,246
def.$230,18S8iir.$l,864,961
114
INVESTORS' SUPPLEMENT.
[Vol. LV.
;
NOVEMTEB,
AND BONDa
BAILROAI) STOCKS
1898,]
SubrtcrtborN will oonTcr a great favor by sivlns; Initncdiate notice of
RAILKOADS.
lid
any error discovered In these Table*.
/(«/»/«— J'rl
INTEBK8T OB DIVIDKfJDH.
pal.
I
Miles Dat« Size, or
Amount Rat" per When Where Payable, and by
of
Par
For explanation of colunin licadings, Ac, aoo notea of
Bead. Bonds Value. Outstanding Cent. Payable
of tables.
whom.
on ttrst page
<e Hew Eng.—Vret. stock ($2,000,000)
o*
let mortgage, gold (See text.) guar. p. & 1
PhUa. Read.
Do
(4
per
ct. till Sc\>t.'i)5:
then 5
p. o.) .c*
Ser.A,.<fil750,00O: H,i((2100,000.cDutcliess Coiintj- RR. lat inoitgago.golrt.guar.o*
Phila. tt Trenloti— Stock 10 p. c. rental, Pcnn KB..
Inc.
M, non-cu.,
—
Pittsbtirg Charliers
it-
.
o*
.0*
Youf/hioji/iotu—lKtmoTtgago.
c*
General mortgage for $1,000,000, gold
St. Louis— Pref. at'k
Pitlslnirg Cincitinttli Chicago
& Ot. East. Ist M. (Chic, to Logan9port)..o*
iCliic. Ind. Cent. IstM. (Colum. tolnd. &br.).o'
Col. &
o*
Col. & Indianapolis Central 2d mortgage
Union & Logan8p'tlstM.(U'uCity toLogans.lc*
L. & Pitt,s. cons. M. ($22,000,000) gold.o*
lie. St.
Cincinnati Richmond & Chicago 1st mortgage.
Jeft'nviUeMad.&In.lstM.(a.f.$15,000dr'u at 110)0
c
2d mortgage
o
Holllday'8 Cove Railroad Istmortgage
J
) Steub. & Ind., lat mortgage, extended In 1884.r
oAr
Pitts. C. & St, L., latconsol. mortgage
if-
.
.
cl-
$:i,00O,000
58
58
58
12
39
PhUiulelphia Wilminaton it Baltimore— Stock
Plain bonds, g. fund $16,000 yearly, not drawn..r
Plain bonds, s. fund $20,000 yearly, not drawn, .r
r
Plain bonds
r
Plain bonds
r
Plain bonds
r
Plain bonds, gold
Piedm o»(— 1 st mortgage
2d mortgage
Piedmont <e CHmfteWaJirf— 1st mortgage, gold
Pine Oreefr— 1st mortgage, guar. prin. and int.
Pittsburg Akron <t IT.— 1st M. $3,()30,000, gold.
II
When Due.
Stocks— iMttti
Dividend.
1892
1892
1892
1890
3,7.'>0,0OO
4g.
1,000
1,000
1,000
2,500,000
4-5g.
3,8.50,000
5
100
50
1875
1880
1887
1887
1891
1892
29
75
105
17
17
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1886
1,000
1.000
1885
1890
1.000
1882 500 &0.
1892
1,000
100
ii7 1863-5
187 1864
208 1864
93 1865
580 1883
36 1866
222 1866
222 1870
1
1863
116 1864
213 1868
1,000
1,000
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
F.
M.
.
<tc
&
A. Phlla. Of.,227 8. 4th St.
do
N.
Oct. I
g.
Piiila.
350,000
6g. J. &. D.
1,259,100 lOperan. Q.-J.
11,819,350 See text. J. <& J.
800,000
6
A. <t O.
1,000,000
5
J. & D.
4
A. A O.
1,000,000
M. & N,
1,000,000
4
4
1,000,000
J. & J.
4 g- A. A O
1,000,000
500,000
6
A. & O
4
A. & O.
P. & A
650,000
3,500,000
I'- J. & D
2,450,000
A. & O
320,000
F. & A
380,000
4g. A. A O
22,414,199 See text Semi-an
223,000
7
A. A O
2,631,000
7
J. A J.
780,000
7
M. A N,
715,000
A. A O.
7
1,506,000
5 K- A. A O.
552,000
7
J. A J.
2,390,000
A. A O.
7
1,995,000
7
J. A J.
P. A A.
120,000
6
3,000,000
5
J. A J.
7
F. A A.
6,863,000
.
%'
L
do
— when <!am©<I.
Phila., Phil. A Read. BB.
Phila., Conipany's (Cilice
Phila., 233 8. Fourth St.
Nov.
Nov.
Oct.
June
1942
1942
1952
1,
1,
1,
1,
Oct.,
1940
1892
July 1, 1892
Phil.Of.;Bo8t.,Kld.Peab Apr. 1, 190O
do
do
June 1, 1910
do
do
Apr. 1, 1917
Phila., 233 8. Fourth St. Nov. 1, 1922
do
do
Jan. 1, 192S
do
do
Oct. 1, 1932
March, 1928
March, 1928
New York A Baltimore. Aug. 1, 1911
N. Y. Gd. Cent. Station. Dec. 1, 1932
New York.
Apr. 1, 1940
Pittsburg Office.
Feb. 1, 1902
do
do
Apr. 1, 1932
N. Y.,Fannerg' L'n A Tr. Oct. 25, 1892
N. Y., Union Trust Co. 1893 A 1895
do
do
Nov., 1904
do
Nov., 1904
do
do
do
Deo., 1905
do
do
Oct. 1, 1932
do
do
July 1, 1896
N.Y.,Farm.L. ATr.Co.
do
do
Phila., Penn. RE. Office.
N. Y.. Nafl City Bank.
Phila., Penn. RE. Office.
Feb.
Jan.
1,
1,
1,
1,
1906
1910
189S
1914
Aug.
1,
190a
Oct.
July
The following table shows traffic and Joint earnings for eight years: Stock, $1,000,000 (par, $50), of which July 1, 1892, N. Y. Central
I XFFIC AND EARNINGS OP RAILROAD AND COAL & IRON COHPANIE8 owned $999,000. In 1890-91 lessee's report showed gross earnings,
$770,006; net, $31,809; rent of road, Ac., $232,674; deficit, $200,865.
Coal from
Lessors report in 1890-91: Eental, Ac, $255,077; Interest, Ac, $262,,.
-« ,
Gross reNet e*mings 853 deflcit, $7,775 totivl deficit to July 1, 1891, $390,515.
IPrchandMe lands of O.
carried one j. co., tons ceipts both of both comPittsburg Akron & Wemtern.—Owns road, Akron, O., to Delpanies.
mile.
2240 lbs. companies.
phos, 165 miles; completed in 1892. Stock authorized, $4,230,000;
par, $100. The Akron A Eastern RR. Co. was incorporated to build
5,672,684 $37, 009,753 $8,950,554 from AJcron to New Castle, Pa., 70 mibs, in Interest of P. A. A W.
1884..
588 ,980,525 319,279,871
6,040 '~~ " 343,501
1,1
7,926,304
1885..
665 ,018,573 359,526,194
Plttoburg €hartlers& Youghiag'ny.— Owns from Chartlers
1,202
6,209,
683,096
7,335,603
1886..
727: ,179,462 398.862,487
6,901 ,497
188,737 12,4.30,054 to Beechmont and branches, 17 miles. Opened 1882-83. STOCK
835, ,308,697 444,614,423
1887..
6,732:
!,486
638,990
9,677,988 authorized, $1 ,000,000 outstanding, $700,000 par, $50. Trcstke of
1888..
848, ,257,474 435,904,463
is Fidelity Title A Trust Co. of Pitts355,601
6,614,,127
7,992,819 general mortgage for $1,000,000
1889..
879, ,717,468 48.'>, 690,228
7,3381,472
096.224
8,114.104 burg. Earnings in half-year ending June 30, 1892, were gross $76,1890..
976 ,587,989 .591,379,912
508 net, $23,186, against $11,132 in 1891.
8,080,
422,843 10,417,143
1891.. 1,109 ,706,524 570,586,877
Pittsburg Cincinnati Chicago Sc St. liOnis.— C5e« Map.)—
—(V. 53, p. 126, 157, 290, 391, 407, 408, 475, 041, 793; V. 54, p. 118, Owns Pittsburg, Penn, via Colum Inis, O., to Chicago, 111., 504 miles;
203, 243, 276, 288, 329, 345, 367, 410, 444, 486. 525, 598, 643, 665, Rendcomb Junction (near Cincinnati) to Anoka Junction, Ind., 16(5701, 721, 762, 799, 867, 887, 906, 965. 1010; V. 55, p. 100, 147, 161, miles
Logansport, Ind., to Illinois State Line, 60 miles
Bradford
178, 216, 331, 332, 374, 421, 463, 545, 639, 680, 704, 723, 857.)
Junction, O.,to Indianapolis, Ind., 104 miles Indianapolis to Jefferson
branches,
vUle (opposite Louisville, Ky.),
Pblladelplila Reading & New England.— r5ee Jfrtp;—Boad owned, 1,082 miles. Trackage 108 miles; A Western, 140 miles total
Lake Erie
Indianapolis to
This company owns from Campbell Hall, crossing the Hudson River
Kokomo, Ind., 55 miles; Louisville Bridge Co., 2^ miles; terminal
at Poughkeepsio by its own bridge, to SUvornails, 58 miles and leases
tracks in Columbus and Indianapolis, 1 mile; Ciii. Ham. A Da.vton BE.,
and controls Hartford & Conn. Western, Hartford to Rhinecliff, 108 lifi miles; total trackage, 60 miles. Total system proper, 1,142 miles.
miles; and leases Dutchess Co. RK., from Poughkccpsie to western
Leases Chartiers Railway, 23 miles Little Miami and dependencies.
terminus of the N. Y. A New England RR. at Hopewell June, 12 miles; Cincinnati,
O., to Springfield, O., 84 miles, and Columbus, O., via Daytotal, 178 miles.
ton, to Richmond. Ind., 108 miles Pittsburg Wheeling A Kentucky, 28^
Organization.— A consol. in July, 1892, of the Central New England miles; Cincinnati Street Connecting Railway, 3 miles; Englewood
A Western and the Poughkccpsie Bridge companies, which went Connecting Railway in Cliicago. 2 miles; other lines, 4 miles; also has
Into receiver's hands and were reorganized by plan in V. 54, p. 597, ajoint interest with Torre Haute A Indianajwlia in the St. Louis Vanthe Poudhkeepsie Bridge being first sold in foreclosure June 30, 1892. dalia A Terre Haute, Indiana StiUe Line to East St. Loul8,158 miles:
Stock—The common stock is $4,600,(X)0, all owned by the Philadel- total leased, 410 miles. Grand total, 1,552 miles.
phia A Reading, which opcrivtes the property. Preferred stock is enOrganization, Ac— This company was formed in 1890 by consolidatitled to dividend up to 5 per cent.
tion (per terms in V. 50, p. 875) of the Chicago St. Louis A I'itt-sburg,
Bonds.- The tirst mortgage la for $7,250,000, both principjil and the JefTorson Madison A Indianapolis, the Cincinnati A Richmond and
Interest being guaranteed by the Philadelphia A Beading; of the the Pittsburg Cincinnati A St. Louis. Controlled by Pennsylvania Co.
amount nutliorizcd, $1,000,000 fives are reserved for future use, and and Penn. BR. Co. through ownership of $28,697,900 stock.
of the balance $3,750,000 are 4 per cent bonds and $2,500,000 bear
Capital Stock.—The stock authorized is: Common, $45,000,000;^
4 per cent for first three years, thereafter 5 per cent. All the mortg.ages
Nov. 1, 1892,
Guaranty Tr. & 8afe Depositee., tnistee), cover $1,390,000 Hartford preferred, $30,000,000; par, $100. Outstanding held in reservecommon, $24,178,484; preferred, $22,414,199; also
for
A Conn. Western stock, etc. Tiie provisions of the mortgage respictiiig stocks old companies unexchanged, common,.$100,953; prefeired, $1,payment of interest on tlic incomes were in V. 55, p. 463. The Dutchess 288,056. Stock listed, but not all actually issued, common, $25,539,.
Co. bonds are guaranteed principal and interest bj' the P. R. A N. E.,
which leases tlie road and owns a majority of its stock. See V. 54, p. 300, and preferred, $24,000,000.
The preferred stock is " non-cumulative and entitled to a dividend
887; V. 55 p. 177, 216, 463, 544, 680, 724.
of 4 per cent per annum out of tlie net earnings as declared by the
Pblladelplila ic Trenton.—Owns from Kensington, Pa., to Mor- Board, with the right after 3 per cent has been declared on the
rlsvlUe, Pa., 26 miles, and Tioga Branch, 1 mile; leases Trenton Bridge common to an additional 1 per cent, making 5 per cent in all.'"
Connecting Railroad, 7 miles, and Frankford & Holmesliurg Railroad, 4 After 5 per cent has been declared in any year on Doth common and preuuiles totiil owned and lea.sed, 39 miles. On December 1, 1871, It was ferred, tne two stocks share pro rata.
leased with the United Companies of New Jersey tor 999 years to the
Dividends on preferred: In 1891, May, 1 per cent; November, 2
Pennsylvania Railroad, at 10 per cent on stock.
per cent; In 1892, March, 2 per cent; October, 2 per cent.
Plilladelpbta W^llinlngton Sc Baltimore.— Mileage as follows:
Price OF Stock.—Common stock: In 1890, 12al4; in 1891, 12>9»
Philadelphia Wilmington & Baltimore Railroad, 117 miles; Philadelphia
A Baltimore Central, 80 miles; Delaware Bailroad, 117 miles; Queen 291a; in 1892, to Nov. 18, inclusive, 195i®30=8. 48368%; In 1892, to
Preferred stock: In 1890.
Anne & Kent Railroad, 26 miles Delaware A Chesapeake, 54 miles Nov. 18, inclusive. 57%®6738. 50355; in 1891,
Cambridge A Seaf ord Railroad, 27 miles Delaware Maryland A Virginia
Exchange of Stock.— The consolidation of constituent companies
Railioad. 98 mUes other mileage, 130; total operated. 048 miles. Owns
was on tlie following basis Pittsburg Cincinnati A St. L. Eailway first
practically all the stock of the Philiulolphia A Baltimore Central.
and second pref. and common receiving .$100 of new preferred for two
DrviDENDR.— From 1868 to 1887, inclusive, 8 per cent was paid; in shares ($50 each) of old stock; Chicago St. Louis A Pittsburg Bailroad
1888 and 1889, 7; in 1890, 6; in 1891,6; in 1892, Jan., 4; July, 3. preferred receiving $66 66 new preferre<l and $33 34 new common for
In April, 1881, nearly the whole stock was pureiiased by Pennsylvania each $100 share of old stock Chicago St. Louis A Pittsburg old comRailroad Company, $10,890,950 of it being now held by that company. mon, exchanged for new common, share for share; Jeffersonvllla
Bonds.— The $700,000 of 6 per centa due Oct. 1, 1892, were paid Madison A Indianapolis Bailroatl stock $50 new preferred and $50 new
and $1,000,000 48 Issued for refunding, etc. The bonds are all to be common in exchange for each $100 old stock.
Unexchanged Dec. 31, 1891: Plttsl). Ciu. A St. L. common, «543.650t
secured by any mort which may be issued on the road.
Earnings.— January 1 to March 31, 1892 (3 months), gross on 648 Chic. St. Louis A Pittsb., common, $704,267, and preferred, $157,703;
Stoubenville A Indiana, common, $117,745; other, $10,350. In Feb.,
miles were $2,052,821, against $1,528,694 on 518 miles in 1891; net,
1892, a stockholder of the Pittj<burg Cincinnati A St. I^mis who declined
$355,894, against $273,950.
to come into the consolidation had his stock valued at $65 per share by^
In year ending Oct(>l)er 31, 1890, gross earnings were $6,820,377
a board of arbitrators. The case has gone to .he Supreme Court.
net, $1,570,202; surplus over fixed charges, $1,020,772; dividends,
Bonds.— The consolidated mortgage for $73,000,000 (Farmers' Loan,
$709,161. In 1890-91 gross earniugs, $7,194,998; net, $1,901,876; surTrust Co. of N. Y. and W. N. Jackson trustees) covers all the railroad,
plus above charges, $1,020,981; dividends, $827,354; surplus, $193,627. A
properties and equipment acquired, or to bo acquired, as well as its franPiedmont Sc Cumberland.- Roiul extends from Piedmont, West chises. Consols for $20,903,000 are reserved for tlie purjiose of retiring
Va., to Cumberland. Md., 29 miles. It conuecta the West Virginia Cen- all the sectional bonds. The Eailway Company has agreed that it will,
tral A Plttal)urg RR., by which it is operated, with the Pennsylvania at the time of the maturity of the latter, pay them off, to the end that
KB. system, and has a traftic contract guaranteeing 5 per cent of gross the consolidated mortgage may become the first lien on the whole prop,earnings to and from tliis road over the Pennsylvania Railroad, which erty. The remainder of the consolidated mortgage bonds are to be is-,
owns $200.0<>0of the $650,000 stock (par $50) and $100,000 bonds. sued from time to time for improvement of the company's property,
In 1891, gross, $212,757; net, $89,925; interest, etc., $39,705.
the purchase and ooustruction of adiiitional railway and for other lawPine Creek.—Owns from Stokesdale Junction to Newberry Junc- ful purjioaes. The series A (Nos. 1 to 10,000, both inclusive) and $1,050,tion, Pa., on the Fall Brook Boad, 75 miles. Leased to the B-alf Brook 000 of series B Nos. 10.000 to 11,050, both luclusive, are guarant.eed
Eailway Co., formiug a connection between Philadelphia A Beading unconditionally as to principal and interest bv the Pennsylvania Comlines and New York Central l)onds arc guaranteed by tliese companies pany, in accordance with the vote of its Board of Directors, and are so
and the Corning Cowanesque & Antrim (now Fall Brook Ry. Co.) on the endorsed. Series B Nos. 11,0,51 to 20.000, and scries C. Nos. 20.001 to
condition that guarantors shall advance money for interest if needed 20,756, inclusive, bad not been guaranteed as lat« as Nov. 19, 1892.
and take second mortgage bonds for such advances. There are $142,000 T.ie three aerlea are all equally secured. See adv. Chboniclb May 21
seconds due In 1932, and June 30, 1891, blUs payablt $357,658. 1892.
I
<£•
;
;
;
;
;
;
;
;
:
—
:
;
:
;
;
.
..
;
;
;
;
;
:
;
.
;
,
%
;
.
.
IKVESTOES' SUPPLEMENT.
116
[Vol.
LV
Snbscrlbera will confer a great favor by glTlng Immediate notice of any error discovered In tbese Tables.
BAILKOAD8.
For explanation of column headings,
on first page of tables.
MUes Date
of
of
putt. Cinn. Chic, it St. Loui>—( Concluded).—
Pitts. Cln. Ch. &. St. L. cons.M., Ser. A,goM,gu.c* )
Series B, gold.. o*> 1,082
do
do
do
Series C, gold.. c*)
do
OftT trusts
78
ritM. CZeuc. ceiWerfo—istM., gold, int. guar. B.&O..
—
Pittsburg A Vonncllsmlle 1 st mortgage
Consoi. M., guar. B. & O. (i>.f.*7,200 per year) gold
2d consolidated mortgage, gold (pledged)
PUtsb.Ft. Wayne it CAic— Stock, 7 p. ct. giiar. Pa. RE.
Guaranteed special improvement stock
m ortgage, gold
Amount
(1892
....
8
2d mortgage, gold. Series A. & B
nttsburg MeJi. d r»KoA.— Stock guar., see text
1st mortgage, guar, by P. & L. E. and L. 8. & M. S.
2d mortgage, for $1,750,000, guaranteed
McKecsport & Bellovemon, Ist M., gold, assumed
Pitts. Ohio Tal. c6 Cin.
1st M. g., s. f. notdrn....c*
Pittsb. Pn(ne«riHe(*foir2wW— Ist M., gold, Int. gu.c*
Terminal mort., interest g<iar. by Pittsb. & West.
Lake Erie.— l»t M., gold
Pilts. Shenango
O"
Mortgage on Erie Tennlnals for $150,000
IHtlsMirg Virginia dt Charleston — Istmortgage, gold
Pittsburg it Western— \ st M., Pitts. Newcastle & £. E.
1st mortgage for $10,000,000, gold
o
2d mortgage for $3,500,000, gold
c*
Foxburg Bridge Co. 1st mortgage, guaranteed.
Pittsburg Youngstmcn it Ashtabula—^OTaTaGTi stock
62
62
28
—
63
143
4
70
cC-
1,000
1,000
10,000,000
756,000
576,370
2,400,000
4,000,000
6,567,880
10,000,000
19,714,286
14,374,289
5,250,000
5,160,000
2,000,000
1,440,000
4,000,000
2,000,000
2,000,000
4,000,000
2,250,000
4kg.
A.
4l9g. A.
4'ag. M.
4&5
<fe
&
&
&
&
&
&
O. N.Y.,Farmer8'l.'n
226
226
.
i24
do
do
O.
N.
1882
««• A.
O.
1,000
1868
J.
J.
£200
1876
J.
J.
IF.
1885 100 &c.
A.
100
7 per an. Q.-J.
100
1871
7 per an. Q.-J.
1862 500 &o.
7
Various
500 &c.
1862
Various
7
1862 500 &c.
7
A. & O.
1882
1,000
J. A J.
50
6 per an. F. & A.
1878
1,000
J. & J.
1,000
1889
A. & O.
50
1884
6 per an. iJ. & J.
1882
1,000
6
J. <fe J.
1,000
1884
900,000
6
|J. & J.
1,000
1888
600,000
6g. J. & J.
1,000 Nil N()V.,'92
1890
lA. & O.
1886
1,000
1,000,000
'J. & J.
1,000
1889
250,000
J. & J.
1890
1,000
3,000,000
jA. & O.
1892
(1)
1,000
1882
3,000,000
|A."'4 O.
5
!j. & D.
1878 500 &c.
219,000
7
1887
1,000
9,700,000
J. & J.
1891
1,000
2,000,000
!« ,M. <fc N.
IS.. &
1882
100,000
S.
50
1,333,3421 See text.
71
71
o
c
Par
(1890 $1,000 $10,000,000
^892
149
149
149
470
470
468
468
468
l8tmortgage,Beirie8AtoF^g,^ fund, oumula-5
notdrawn.c*^
I^morttagcl".''.".^.*".''^ «-«•
o*
fStoftiirsr J«nc(ion— 1st mortgage, gold
Pittsburg iC Lake i!rt«— Stock
1st
BoTKf»— Prlnol
INTEREST OR DIVIDENDS.
Size, or
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding Cent.
Payable
W'hom.
&e., see notes
'
'
I
i
A Tr.
do
do
N. Y., Cent. Trust Co.
Baltimore, B. & O. RR.
Lond'n,J.S.Morgan (feCo
New York Agency.
N. Y., Wln8low,L. &Co.
do
do
do
do
do
do
do
do
N. Y., Third Nat. Bank,
Pittsburg, Co.'s Office,
do
do
N. Y., Security & Tr. Co.
N. Y., Union Trust Co.
do
do
do
do
Plttsb'g, Fidelity Tr.Co.
Phil.,Pa.RE.,233 So.4th
N. Y., Mercantile Tr. Co.
do
do
N. Y., Central Trust Co.
New
pal. When Due
Stocks— L,aat
Dividend.
Oct.
1,
1940
Apr. 1, 1942
Nov. 1, 1942
Various dates.
Oct. 1, 1922
July, 1898
Jan. 1, 1926
Feb. 1, 1925
Oct. 4, 1892
Oct. 1, 1892
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1922
Aug. 2, 1892
Jan. 1, 1928
Jan. 1, 1928
July 1, 1892
July 1, 1932
July 1, 1934
July 1, 1918
Oct. 1, 1920
July 1, 1918
July, 1916
Oct. 1, 1940
York.
1942
Philadelphia, Penn. RK. Sept. 1, 1913
AUegheny,Pa.,lstN.Bk. June 1, 1898
N. Y., Drexel, M. & Co. July 1, 1917
do
do
May 1, 1941
N. Y., Union Trust Co. Sept. 1, 1902
N. Y., Farm.
L.& Tr.Co.
Sept. 26, 1892
Earnings, Finances, &o.—The interest charge for the year 1892 will 28 miles; with branches, 8 miles; total operated, 164 miles. Oper*e $2,306,383 75, a saving of $51,641 25 against 1891, as a result of ated in the Interest of Lake Shore & Micliigan Southern, whicli owns
$2,000,050 stock. Dividends 1884 |to August, 1892, inclustra. 6 per
the refunding of prior bonds into consol. 4ias.
From January 1 to Oct. 31 (10 month.s) in 1892 gross earnings showed cent yearly. In 1892 $1,000,000 second mortgage 58 were sold for
double tracking, &o. In the year ending June 30, 1892, gross earnings
an Increase of $1,127,989 and net an increase of $57,450.
ANNDAL KErORT.—Report for 1891 was in Chronicle, V. 54, p. 885. were $4,313,518, against .$3,648,618 in 1890-91; net, $1,329,088,
against $1,028,090. In calendar year 1891 gross earntags (including
1889.
1890.
1891.
Pittsburg McKeesport & Youghiogheny), $3,757,207; net, $926,830;
MUes operated (system proper)
1,144
1,144
1,142
Interest, $203,362; rental to Pittsb. McK. & Y., $469,027; one-half
Oross earnings
$13,981,934 $15,452,932 $14,895,591 profit on Pittsburg McK. & Y. paid to Lake Shore & Michigan Southern,
Operating expenses
10,458,799
11,465,489
10,939,808 $6,821; dividends; $210,000; surplus, $7,620. John NeweU, President,
Chicago, ni. (V. 54, p. 641, 889.)
Net earnings
$3,523,135
$3,987,443
$3,955,783
PlttsburglHcKecsport Sc Yougliloglieny.— Owns from Pitts2fet earnings, incl. other inc
$3,961,946 to N. HavenrPa., 57 m.; McKeesport to Bellevernon, 28 in.; branches, 5
$3,991,889
Ifeteams.of L,.Miami&57 profits St.L.V.&T.H.
387,185
367,171 m.; leases 3 m.; total, 93 miles. Road opened November, 1883, and
in 1890 consolidated with McKeesport & Bellevernon and assumed its
Total..."
$4,329,117 debt. Leased to Pittsburg & Lake Erie RR. for 999 years. Rental is 6
$4,379,074
Interest on bonds
$2,564,390
$2,358,025 ?er cent on the stock, principal and interest of the Pittsburg McK. &
Rentals paid
ough. bonds being guaranteed liy Pittsburg & Lake Erie and Lake
833,655
802,053
Car trusts (including interest)
155,412
144,826 Shore & Michigan Southern companies, tlie guarantees Ijeing endorsed on
Interest on L. Miami securities
79,444
79,444 the share certificates and bonds. The guaranty of the stock is on the
Dividends on preferred
669,574 express condition tliat tbe holder sliall accept par for the same on July
Jlisccllaneous
71,199
7,736 1, 1934. Profits to lessees In 1891, $13,643, of which one-half was
payable to the Lake Shore & Michigan Southern.- (V. 52, p. 126.)
Total
$3,704,100
$4,061,658
Pittsburg OUlo Valley & Cincinnati.— Owns road under conBalance, surplus (over dividend in 1891)
$674,974
$267,459 struction from Bellaire, O., to Marietta, O.. 75 miles, of which 16 miles
were cnmpleteil prior to Nov. 1, 1892. A Pennsylvania RR. property.
—(V. 54, p. 407, 561, 587, 886, 889, 965; V. 55, p. 100, 257.)
Stock autliorized $1 ,.500,000; outstanding Nov. 1, 1892, $209,850;
Pittsburg Cleveland tc Toledo.— From Newcastle Junction- par, $50. Trustee of mortgage (for $1,500,000), Fidelity Ins., etc., Co.
Pa., to Akron, O., 77 miles, stock, $3,000,000 (par $50), of which Bait. of Philadelphia.
<& Ohio RR. owns $1,505,000. Lea.sed in July, 1884, for 99 years to
Pittsburg PalncsTllIe & Falrport.— Owns from Falrport, O.,
Pittsburg & Western. The Baltimore & Oliio guarantees interest on the to Youngstown, O., 03 miles. Operated at cost by Pittsburg <fe Western,
bonds (see terms in V. 39. p. 607.) In year ending June 30, 1891, gross but Interest of bonds is guaranteed. Common stock, $800,000; preearnings, $460,084; net, $55,530; dellcit under interest. $98,133.
ferred, $250,000; par, .$50. In year ending March 31, 1891, gross earnPittsburg &, ConnellsTllIe.—Owns from Pittsburg, Pa., to Mt. ings, $293,578; net, $61,440; deficit under charges, $4,978, against
Savage Junction, Md., 147 miles; branches, 4 miles; leased lines, 22 surplus of $36,143 in 1889-90. (V. 52, p. T95.)
miles total, 173 miles. Leased for 50 years from January 1, 1876 (rePittsburg Shenango & I.alie Erie.— C5«! ITap.;—Owns from
newable forever), to the Baltimore & Ohio Railroad, which guarantees Butler, Pa., to GIrard, Pa., or Wallace Junction, 107 miles; branches to
the consolidated mortgage of 1876 and In 1884 issued its bonds tor $10,- Conneaut, etc., 37 miles; to terminals, Erie, Pa., 4 miles; leases Meadville
000,000, secured by pledge of the above second consolidated mortgage. Conncaut Lake A Lincsville Railroad, Linesville to Meadville, 21 miles;
Stock Is $1,956,091; par, $50. In year ending Segt. 30, 1891, gross trackage, N. Y. Chic. A St. L., to Erie, 10 miles; total operated, 178
earnings of Pittsburg division Bait. & O. were $2,880,391; net, $981,796
miles. Reorganized in October, 1890, after consolidation with certain
;
aU charges, $1,234,918; loss, $253,123.
Pittsburg Fort ^Vayne & Chicago.— Road.— Owns from
t)urg. Pa., to Chicago, lU., and branch, 470 miles.
Organization, Lease, &c.— Foreclosed Oct. 24, 1861, and
Pltts-
reor-
ganized under this title Feb. 26, 1862. From July 1, 1869, the comf>any leased all its road in perpetuity to the Penn. RR. at a rental equivaent to interest, sinking fiind of debt and 7 per cent on $19,714,286
stock, which was increased at that time from $11,500,000. The lessees keep the road in repair and also pay taxes, expenses, <Ko.
The rental and interest charge is about $3,377,000 per year, and the
profit to lessees has been large. The road is now operated by the
Pennsylvania Company. The Pittsburg Fort Wayne <fe Chicago leases
the Newcastle & Beaver Valley, 15 miles, and the Massillon <fe Cleveland RR., 12 miles, both operated by the Pennsylvania RR.
Capital Stock.—The special Improvement stock is issued to Pennsylvania RR. tor improvements, Ac, under article 16 of lease, which
provides that the JB8.sor may issue special bonds or stock. See V. 50, p.
139. Of this stock the Pennsylvania RR. Co. on January 1, 1892,
owned $1,472,512, and the Penn. Co., $7,382,045.
other oomjianies.
From Jan. 1 to Oct. 31, 1892 (9 months), gross earnings, partly estimated, were $325,962, against $274,962 in 1891.
In calendar year 1891 gross earnings were $336,955, against $262,295 in 1890; net, $114,219, against $103,747. Stock, $3,(500,000; par,
$50.— (V. 53, p. 969 V. 54, p. 120, 526, 598, 1048.)
:
&
Alleghany City, Pa., to New
64 miles; Callery Junction to Mount Jewett, 139 miles,
which 124 miles narrow gauge) branches, 9 miles; total owned, 212
miles. Leases for 99 years Pittsburg Cleveland A Toledo, New Castle
lunction. Pa., to Valley Junction, O., 77 miles, and the Pittsburg
Palnesville A Falrport Railroad, Niles to Falrport, in Oliio, 54 miles,
and Windsor branch, 9 miles trackage, Akron, O., to Orville, O., 26
miles; proprietary lines, 19 miles; total operated, 398 miles.
Organization, Etc. — Sold in foreclosure June 8. 1887; new company
organized June25ac3ording to plan in V. 44, p. 370. In Feb., 1891. the
Baltimore A Ohio bought $6,050,000 common stock, and is preparing
to use the road as part of a through route to Chicago. Tlie Allegheny
A Lawrence RR. Co. was organized in August, 1892, in the interest of
the Pittsburg A Western to build from Bryant, to Moravia, Penn., 40
Bonds. —The first mortgage is in six scries, lettered A toF inclusive, of miles, to shorten this through route and lessen the grade. V. 55, p. 237.
$875,000 each series, the interest on "A" series being payable January
and preferred, $5,000,000, 5 per cent
Stock.— Common,
and July; on "B," February and August; on "C,'' March and non-cumulative; both$7,000,000,
in $50 shares. Control held by Baltimore A Ohio.
September; on "D," April and October; on "E," May and Stock will be increased $1,500,000. V. 55, p. 332, 680.
November, and on "F," June & December. The second mortgage is
Bonds.— For abstract of first mortgage (trustee. Mercantile Trust
also in six scries of $860?0O0 each, lettered G to M Inclusive (J omitted),
45, p. 439. Leased lines are operated at cost and
and the interest is payalilo January and July on "O" series February Company) see V. advanced if necessary.
interest on bonds
and August on "H" March and September on "I" April and October
Second mortgage for $3,500,000 is a first lien on property in Ohio. See
on "K'
May and November dn "L," and June and December on V.
499, 762. In October, 1892, was about to issue the remain"M." Lessee pays .$104,100 yearly to sinking fund, and if bonds ing52, p. 238, authorizfd by thi.s mortgage. See V. 55, p. 332, 680.
$1,500,000
cannot be purchased, fimds accumulate. Of the above Ist mortgage
addition to the above indebtedness there were outstanding March
In
bonds, $1,996,000, and of the second mortgage $2,411,000, and $1,707,- 31, 1891, $81,000 of old Pittsliurg A Western first mortgage bonds,
316 cash, were held in the sinking funds January 1, 1892.
due 1900, real estate mortgages for $188,500; car trusts, $1,167,223.
Earsings.— In 1891 gross $11,659,144; net, $4,178,560; profit Interest is guaranteed on $1 ,250,000 Palnesville A Falrport bonds.
to lessee, $946,138. In 1890 gross, $12,020,934; net, $4,061,100;
Earnings.— From Jan. 1 to Nov. 7, 1892 (lOk months), gross earnprofit to lessee, $915,047. (V. 50, p. 139, 734; V. 52, p. 498, 938.)
ings (partly estimated) were $2,039,484, against $1,930,955 in 1892.
For voar ending March 31, 1891, gross earnings of the three roads,
Pittsburg Junction.—Owns 8 miles of tracks (including sidings,
Ac.) at Pltt.sburg, Penn., connecting the Bait. & Ohio and the Pittsburg were $2,207.015 net, $718,579 surplus over charges, $30,744, against
Western, which companies in 1882 agreed to pay the Pittsburg $197,843 in 1889-90. (V. 55, p. 100, 147, 257, 332, 680.)
Junction .$2 for each car passing over its road. In 1890-91 gross
Pittsburg Tfoungstoivn & Ashtabula.— Owns Kenwood, Pa.,
earnings $215,105 net, $149,890; surplus over fixed charges, $119,711. to Ashtabula Harbor, O., 99 miles; Niles to Alliance Junction, O., 25
Comiixvin stock is .$960,000: preferred, $480,000; par, $50. Dividends miles; CauHeld Branch, 1 mile: trackage, 3 miles; total operated. 128
of 7 per cent have been paid on preferred stock.
miles. A consolidation of the Ashtabula A Pittsburg and otlier roads in
Pittsburg & Lake Erie.—Owns from Pittsburg, Pa., to Youngs- 1887. Leased from Deceinl)er 12, 1887, to Pennsylvania Company,
town, O., 68 miles branch line to Newcastle, Pa 3 miles total owned, which July 1, 1891, owned $375,000 common and $1,550,000 pre71 miles; leases the Pittsburg McKeesport & Youghiogheny RR., ferred stock; rental net earnings. Stock authorized—Common, $2,000,nttsburg to New Haven, Pa., 57 miles McKeesport to BeUevemon, 000, and preferred, $2,000,000; both in $50 shares.
Pittsburg
Western.— Owns from
Castle. Pa.,
(of
;
;
;
;
;
;
;
A
;
,
;
;
;
;
NOVKMBEE,
1892.1
KAILKOAD STOCKS AND BONDS.
117
INVESTORS' SUPPLEMENT.
118
[Vol. LV,
Little
6|iuqaa
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NOVBMBBB,
RAILROAD STOCKS AND BONDS.
1802.1
Subacrtbera
;
confer a Kreat favor
iirlll
RAILROADS.
bjr
119
kItIuk Immediate notice of anjr error dlacovered In tbeae Tablea.
^„^^
Date
Size, or
of
of
Par
/ion</«— Prinol-
INTEREST OR DIVIDENDS.
pal,Wlion Dne.
Rate per When Where Payable, and byj Slocks— Laai
Road, Bonds Value. Outstanding Cent.
Payable
Whom.
Dividend.
-124
$50 $1,700,000 7 per an. M. & B. N. Y., Far. L. A Tr. Co. Sept. 26, 1893
etils. Young, it 4»A.—rCon.;— Preferred stock
17 1865
310,000
1,000
7
F. & A. N. Y., Wlnslow, L. & Co. Aug. 1, 1895
Lawrence KK. 1st uiortgago
o*
62 1878
1,000
1,500,000
6
F. <Se a. PUila., Fidelity Tr. Co. Aug. 1, 1908
Ashtahula & Pittsburg Ist mortgage
125 1887
M. & N. N. Y.,Farm. L.ATr.Co. Nov. 1, 1927
1,000
1,562,000
5
Cousol. mort. (for $1,000,000) s. f. 1 p. c., not dr.o
100
100
1,000,000 3 In 1891
(1)
Ponliac Oxford <t Norlhern.— Stock
1887
Deo. 1, 1927
1,000
364,000
New York Agency.
J. & D.
PI. Jervis SoHticello d jV. 1'.— 1st M.,g($10,000 p.m.)
"20 1891
c*&r
1,000
1,500,000
J. & J. Phll.,PenuCo.tor Ins.Ao Jan. 1, 1941
Fori Reading.— \fX mortgage, gold, guar
112 78-'82
500
362,000
& J. ,N. Y. Security <t Tr. Co.' 1898 A 1899
PorlTJo 1/"' <*^ «»"«•— 1st M. and 2d M., end. byCon.Ga.
0*
112 1878 100 &0.
do
Jan. 1, 1899
do
General mortgage income lionds, gold
1,500,000
6
* J.
68 1880
500
630.000
& 3. N. Y. Security & Tr. Co. July 1, 1900
Port Roi/nl <t West Carolina— Augwuta, & Knox. M.o*
7
c*
227 1887
Hay 1, 1937
Consolidated mortgage, redeemable at 110
1,000
M. & N.
1,870,000
6
Portland <t 0<jde.nsburg—See Maim: Ckntkal.
55
100
Host. Bk Redempt. Port. Jnly 15, 1892
Portland ct Rochester— Stock ($600,000)
592,070 6 per an. 'J.
51
100
Boston, B. & M.
July 15, 1892
Portland Saco <e P(H(smou//t—Stock (guar, by rental)
1,500,000 6 per an. J.
11
100
Portsmouth, Treasurer. Jnly 1, 1892
Portsmouth <t Doner— Stock, 6 p. c. guar. East. Mass.
769,000 6 per an. J.
M. $2,000,000, gold,guar..o*&r
15 1891
' & J
Baltimore.
Potomac rallei/— 1st
1,000
500,000
Jan. 1, 1941
Bg. J.
73 1886
Prescott dt Arizona Central— 1st M., gold, sink, fd.o
1,000
Jan. 2, 1916
775,000
J. A J N. Y., Atlantic Tr. Co.
incomes
73 1886
do
do
Jan. 2, 1916
2d mortgage,
1,000
775,000
J. A ,T
10 1874
Prospect I'arkd: Coney /«(.— IstM.oonvertlble.c'&r
1,000
,1.
500,000
7
& J 1 stNat.Bank of Br'klyn Jan. 1, 1895
o*&r
10 1880
2d mortgage tor $500,000
1,000
Feb. 1, 1926
420,000
6
F. & A Of., 4 Court 8q. Br'klyn
c*&r
3d mortgage for $200,000 gold
10 1891
M. A fl
do
do
Moh. 1, 1931
1,000
96,000
Providence <t Springfield— 1st M. gold, guar., p&l.o'
23 1892
1,000
See text.
5 g- J. A .1 Providence, Am. Nat.Bk. July 1, 1922
51
I'rovidence, Ottice.
Providence <« Worcestei Stock (10 per cent rental)
100
Sept. 30, 1892
3,500,000 10 per an CJ .—M.
o*
Ist mortgage
51 1877
1,000
6
a; A O Prov.,R.I.Ho8p.ATr.Co. Oct. 1, 1897
1,500,000
Quincy Omaha d Kansas Oity-Pret. Ist mortgage. 134 1887
1,000
250,000
5
.).
A D June '90 coup. last paid. Deo. 1, 1917
Ist mortgage
134 1887
Deo. 1, 1917
1,000
1,489,240
3,4,5 .r. A I)
Raleigh d Augusta— 1st mortgage, funding
o*
98 1886
1,000
.1.
1,000,000
6
A J Balt.A Phil. Mech.N.Bk. Jan., 1926
Raleigh A Gaston— 1st mortgage
97 1873
1,000
1,000,000 .
8
J. A J Bait. A Phil. Mech.N.Bk. Jan. 1, 1898
Sealioard Air Line Eq. bonds, Ser. A&B, see text.
1890-1
1,000
425,000
.1.
5
A 1) Balt.Merc.Tr.A Dep.Co Y'rly, $50,000
Reading it Oolumbia—lat mortgage (extended).. o* "40 1862 100 &c,
650,000
M. A H PhUa., Phll.ARead. RB. Mch. 1, 1912
5
2d mortgage, coupon (extended in 1884)
o
40 1864
1,000
do
June 1, 1904
350,000
do
6
J. A D
Debentures
1877
1,000
Dec. 1, 1917
1,000,000
6
Lancaster & Reading Ist mortgage
c
15 1873 100 &0.
350,000
7
J. A J. Phlla., Phil. A Read. RR. JiUy 1, 189
For explanation of column headings,
on Urst page of tables.
&o., see notes
Amount
I
,
^-
—
.
. . :
Dividends.— On preferred stock at rate of 7 per cent yearly since
1887; on common. In September, 1890, 2'a per cent; in September,
1891, 3 per cent; in 1892, Marcli, 3; Sept., 3.
Bonds.— Bonds of 1887 (trustee. Farmers' Loan A Trust Co.) are reserved to retire divisional bonds. A sinking fund of 1 per cent pur
chases bonds of 1887 at par otherwise payments lapse.
Earnings.- From Jan. 1 to Oct. 31, 1892 (10 months), gross $1,231,829 against $1,090,192 In 1891; net, $481,023, against $429,188
In 1891. For six montlis ending June 30, 1892, net, $273,219; interest, $94,900; dividends, .$99,350; balano-, surplus, $78,968.
lu
1891 gross eamUigs, $1,290,416; net, $484,875; interest on bonds,
$189,800; other charges, $26,131 dividends (3 per cent on common,
7 on preferred), $158,832 balance, $110,111.
Port Royal
Augusta.—Owns from Port Royal, 8. C, to Augusta, Ga., 112 miles. Formerly Port Koyal RR., sold In foreclosure June
6, 1878. The Georgia RR. was endorser on $500,000 of the old bonds.
The stock is $750,000, par $100, and Central Ga.Juiy 1, 1892, owned
$401,500 stock and $1,170,600 general mortgage liouds. The ttrst
mortgage bonds are $250,000, redeemable at 105 both llrsts and sec;
;
;
&
;
onds also have sinking funds.
From January 1 to Aug. 31 (8 months) In 1892 gross earnings were
$146,578, against $248,133 in 1891.
In year ending June 30, 1891, gross earnings were $364,707
net,
$73,935 surplus over interest and sinking fund, $36,215.
$100. In addition to bonds as above there are $250,000 non-cumulatlvo 6 per cent incomes duo May 1, 1920, which are not secured by
mortgage, and on July 1, 1892, $155,800 loans and bills payable. The company sold its
horse-car property and franohlsea
to the Atlantic Horse RR. Co., and holds a 5 per cent bond and mortago of that company for $420,000. Ill 1891-92 gross earnings were
f 159,387, against $158,267 in 1890-91; net, $29,567; net Including
income from rents, $70,457 ; charges, $90,218 dellolt, $19,761. Total
deficit June 30, 1892, $110,232. President, Andrew R. Culver, Bklyn.
-(V. 55, p. 372.)
;
Providence
&
Springfield.-Providence, R.
to Pascoag,
I.,
23
miles. Stock Is $517,450 (par, $100), a majority of which was acquired
In July, 1890, in Interest of the New York A Now England, and road
leased to that company for 99 years from October 1 at pier cent on
stock. See V. 51, p. 458 V. 55, p. 177. Bonds for $750,000 were to be
issued— $500,000 to retire old first mortgage due July 1, 1892, and
$250,000 for an extension of 8 miles to East Thompson, Conn.; they are
guaranteed by the New York & New England RR. An Injunction, however, prevented their ccrtilication, and the old bonds having been kept
alive, the city l)rought foreclosure suit to got rid of Its liability thereon.
;
matter will be adjusted.
net, $48,422.
It is believed the
ings,
$138,036
;
In year 1889-90 gross earn-
;
Providence Sc Worceater.—Owns from Providence, R. I., to
Port Royal
IVestern Carolina.— Owns Augusta, Oa., to Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles.
Spartanburg, 8. C, Laurens to Greenville, 8. C, and McConnick to In 1889 leased to the New York Providence A Boston for 99 years at 10
Anderson, S. C, 227 miles. A consolidation In 1886 of the Augusta per cent per annum on the stock, and in June taken with that road
A Knoxville, Ac. Common stock of $1,234,000 and 6 per cent non- into the N. Y. N. H. A Hartford system, a new lease for 99 years
cumulative preferred stock $184,000—par of shares $1(50. Themort- from July 1, 1892, being made direct to the New Haven Company.
age is for $2,,500,000. Central RR. of Georgia July 1,1892, owned In 1891-92, gross earnings, $1,507,088, against $1,518,378 in 1890-91
10 per cent
f1,767,000 of the above bonds, .$694,000 common stock and all the deficit after xpenses, ciiarges and p. 829 V. 51, dividends, $60,962,
p. 681.)
preferred. From January 1 to Aug. 31, 1892 (8 months), gross earnings against surplus of $193,483. (V. 48,
$172,665, against $262,669 in 1891. In year ending Juno 30, 1891,
tlnlncy Omalia '& Kansas City.—West Quincy to Trenton, m.,
gross $428,426, against $380,291 in 1889-90; net over expenses, bet- 134 miles trackage (C. B. A
Q.), to Quincy, 3 miles. This company i»
terments and taxes, $7,155, against $9,703 charges, $156,300.
successor to the Quincy Missouri A Pacific sold in foreclosure and reorPort Reading.—This company was organized in November, 1890, ganized. Default was made on Dec, 1890, coupons. It is proposed to
In the interest of the Philadelphia A Reading RB. to build and operate reorganize the company, issuing $500,000 of 5 per cent gold bonds for
20 miles of road from Bound Brook, N. J., to Staten Island Sound, present preferred lionds, floating debt, steel rails, etc., and preferred
where extensive termlnal.s will be established. Road completed in Sept., stock for unproferred 1st mortg.ige and scrip. The stock Is $1,489,240
1892. Capital stock authorized $2,000,000— outstanding, $1,960,000, (par $100). From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings
par $100. The Philadelphia A Reading RR. Co. guarantees the bonds, were $201,081, against $191,348 in 1891; net, $52,864, against$58,749.
principal and Interest, by endorsement on eacii iSond.
la 1891 gross $262.626 net $85,673, agst. $79,602 in 1890.
In February, 1892, In behalf of the Philadelphia A Reading, the Port
RalelKli dc Augusta.—
Beading leased the Central RR. of New Jersey, existing laws prevent- 98 miles; Hamlet to Gibson,Owns from Raleigh, N. C, to Hamlet, N. C,
10 miles leases Monoure to Plttsboro, l(i
ing a lease of the Central directly to the Reading, but in August, 1892, miles; Cameron to
the lease was adjudged illegal. See Central of N. J. Legal proceedings Chatham Railroad; Carthage, 12 miles; total, 130 miles. Formerly
now controlled by Raleigh A Gaston (which owns
were instituted by the Attorney-General of Now Jersey against tlie most of the stock and bonds) and so by Seaboard
& Roanoke. Stock is
Port Reading in September, 1892. See V. 55, p. 545. (V. 54, p. 762
In 1890-91 gross earnings, $317,113; net
873,000; par, $100.
V. 55, p. 545, 639, 680.)
t99,014 surplus (includine other receipts) over fixed charges, $38,369,
Portland Sc OKdenaburg.—See Maine Central.
Ralelali ic Gaston.—Owns from Raleigh to Weldon, N. C, 98 miles
Portland ic Roeheater.— Owns from Portland, Me, to Rochester, and Louislmrg branch, 10 miles. Controls Raleigh A Augusta RR., 108
N. H., 55 miles. By a settlement in 1881 ail the old stock and bonds miles, and has large Interest in Durham & Northern RR., Durham to
were converted into the stock of the new company, of which the Bosfion. Henderson, N. C, 42 miles; and with Sealioard A Roanoke controls
A Maine owns $482,000. Notes payable were .$137,000 July 1, 1892. Carolina Central; also controls Georgia Carolina A Northern and
In year ending June 30, 1892T gross earnings. $256,554 net, $53,337
Jointly guarantees the boxds. Seaboard A Roanoke owns $742,200 of
taxes, $4,104; interest, $1,136; dividends (6 p. c), $35,524.
the Raleigh A Gaston $1,500,000 stock par, $100. Semi-annual dividends are paid at National Fanners' A Planters' Bank, Baltimore, April
Portland Saco ^k Portanioutli.- Portland, Me., to Portsmouth,
N. H., 51 miles. It was leased May 4, 1871, in perpetuity to the Eastern I and Oct. 1. Dividends in 1889 and 1890, 6; in 1891, 6 per cent. InRailroad, Mass. (now merged in Boston A Maine), at 10 per cent on tciest on the Seaboard Air Line equipment bonds is payable Jointly
with the Seaboard A Roanoke under the Ic.isc of the property. They
«tock. Lease rental changed May 21, 1877, and now 6 per cent
equip
Portsmouth Jc Dover.—Portsmouth, N. H., to Dover, N. H., 10 were issued to yearly. the Georgia Carolina A Northern, and are due
miles. Opened i'ebru ary 1, 1874, aad leased for tifty years to Eastern $50,00<) June 1
In year
$534,634; net,
New Hampshire at 6 per cent per annum on the stock. Lease assumed 218,403; ending June 30, 1891, gross earnings were paid,
income other sources, $1,7,258; interest
$80,000:
by Boston A Maine. Frank Jones, President, Portsmouth, N. H.
t ividends (6 per cent) $90,000 surplus, $91,550. (V. 52, p. 530.)
Potomac Valley.—This company, controlled by the Western MaryReading; & Columbia.— Owns from Columbia to Sinking Springs,
land, was orgiinized in 1890 to build connecting links lietween that sysPa., 39 miles branches,
tem and the Baltimore A Ohio and I'iiiladelphia & Reading, its road miles operates Marietta 13 miles L.ancaster & Reading RR., leased, 15
Junction to Chlckles, 6 miles total operated,
was completed from Wllliamsport, Pa., to Cherry Run, W.Va., on the
miles. Stock, $958,373 par, $50. The road Is controlled and oper,
B. A O., 15 miles, in July. 1892. The property is leased to the Western 74
Maryland, and the bonds have principal and interest guaranteed. ated by the Philadelphia A Reading (which holds the above debentures),
Jointly and severally, by the Western Maryland RB. Co. and the Bal- but accounts kept separate. In year endiug Nov. 30, 1891, gross earntimore A Ilarrisburg RK. Co., and are so endorsed. They are aUo se- ings were $338,730 net, $94,535 Interest, rentals and taxes. $142,256 deficit, $47,712. Total deficit to Nov. 30, 1891, $1,234,819.
cured by traffic contracts with these companies. (V. 52, p. 121.)
Rensselaer
Saratoga.—Owns Troy to Ballston N. Y., 26 mile^
Preaoott ic Arizona Central.—Owns from Seligman, on the Whitehall, N.
Y., to Vennont line, 7 miles; Eagle Bridge to Rutland
Atlantic A Pacilio Railroad, to Prescott, Arizona, 73 miles. Stock,
Vt., 62 miles; Saratoga to Whitehall, 39 miles; branch, 3 miles
total
$1,200,000. Central Trust Company of New York is mortgage trustee.
Five per cent of net earnings each year accumulates as a sinking fund; owned, 137 miles. Leases: Albany to Waterford Junction, 12 miles;
Saratoga to Sohone ctady, 22 miles Fort Edward to Caldwell, 14 mlleaj
bonds purchased, not drawn, at 110. Application to New York Stock
Exchange was given in full In Chronici.k, V. 48, p. 223. From other branohes, 7 miles; total leased, 56 miles; total ojicrated, 192
January 1 to July 31, 1892 (7 months), gross earnings were $74,- miles. Leased In perpetuity March 1, 1871, to the Delaware A Hudson
496, against $75,016; net, $42,972, against $22,547. In 1891 gross Canal Company, which in Sept., 1892, owned $1,600,000 stock; rental,
earnings were $139,822; net, $60,907, against $82,269 In 1890: rentals, 8 per cent on the stock and Interest on the bonds. Stock authorized.
taxe8,and Interest on first mortgage, $39,290; surplus, $1,617. Oltloe, $10,000,000.
For three months ending Sept. 30, 1892. surplus over charges was
42 Wall Street.
$138,036, against $161,637 In 1891.
For the year ending June 30,
...^^.'"P'"'' Park Sc Coney Island.—Owns from 9th Avenue and 1892, gross receipts were 82,573,275, against $2,572,192 In 1890-91;
20th 8tre(!t, Brooklyn, to Coney Island, etc., 6 miles. Leases to Coney net, $991,672, against $963,876; deficit under charges,
$187,211,
Island Point, etc., 2^ miles; other. 1 mile; trackage, Parkvlllo to Bay against $136,205 in 1890-91.
(V. 53, ii. 224, 568, 714; V. 54, p. 289,
KIdge, 3»3 miles total oi>erated, 13 miles. Stock Is $250,000 ( par. 800 V. 65, p. 298, 806.)
;
&
j
i
;
;
;
;
;
;
;
;
;
;
;
;
;
;
;
;
;
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&
;
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190
INVESTORS' SUPPLEMENT.
(Vol. bV.
.
:
NOVBMBEB,
nrlll
RAILROADS.
Bentstlaer
it
tlri^t
page of
Date
Miles
<bo.,
see notes
tables.
5«ra.—8took.8p.o.guar.Del.<StHud.Can
o*«fer
Ist mortgage, consolidatfld
«tcATn'rfoeDa)ii!i7/c— Receiver's cort.for $1,000,000.
Consol. M., Richnioiid to Danville & bra., gold
192
79
ConsoI.M.g. ($1.5,000 p.m. ).f or .8
1,000
1884
1884
1887
1887
1891
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
Stock, guaranteed 6 per cent
Wash.Oh.A West. Ist M. guar.,Alexan.toR. HUl.o
Income mortgage
Oxford & Clarkav. 1st M., $15,000 p. m.,gold....o
50
50
50
Carolina 1st mort., guar
DanviUeJA West. Ist M. $15,000 p. m.,gold,guar c
mich.Fred. it Po/.— St'k,coui.($l,071,100 dlv.,obllg.)
Stock, guar. 7 p. c, except $19,300 guar. 6 p. o
1st n*ortgage, convertible
7
A X.
do
,
do
coupon bonds due in London
do
do
due in U. 8
do
do
certificates of debt, due In U. S
do
2d mortgage
do
Consol. mortgage for $2,000,000, gold
o*4r
B.— Istmortgage, gold
Rich. Nichol. In.
o'
. .
Bichmond a
—
I'elersburg Stock
Consolidated mortgage ($50,000 are Ts)
Consolidated mortgage for $1,000,000, gold
o*
Btlchmond <t WesU'otnt Terminal K. <t W. Co.— Stock
Pref. 5 p. e. stk., cumulative, subject to call at 110
70
i",6oo
1,000
1,000
100
100
185C
1856
1858
1870
1858
79
79
79
79
79
79
79
Various
Various
Vai-ious
1890
1889
1,000
100
1875 500 &e.
1890
1,000
100
100
;
;
:
;
;
;
;
;
;
;
;
;
;
;
;
:
'
i
$2,413,831
)
< o«o aa-r <
1,662,967^
Kentals.&c
\
.Slnk'g fund for equip, bonds
Surplus
$750,864
53, p. 59,
V. 55, p. 22, 257, 298, 590, 039,
$2,861,868
895,3.50
754,115
$1,212,403
$2,907,716
824,195
1,135,316
100,145
$848,060
.
T3i, 765.)
&
Richmond Frcdoriokabnrs Potomac—Owns from Rich
mond, Va., to C^uantico, 79 miles; James River branch, 3 miles; leases
Quantico to Junction, 2 miles. The dividend obligations receive same
<lividen(ls as common stock, but carry no voting power. In December.
1889. tlie consolidated mortgage for $2,000,000 was authorized to
mrovlde for prior bonds maturing, for extensions, doul)Ie-track,
JiC. Dividends of 7 per cent paid on common stock and dividend
Dividend.
1,
1,
N. Y., Central Tr. Co. July, '93
Coup. July '92 bought. Jan. 1,
Apr.,'92, coup.lastpaid. Apr. 1,
Apr.,'92,coup. last paid. Oct. 1,
Central Trust Co.
Sept. 1.
do
do
do
do
do
do
•
$i'.6oo
3fap.;— Owns from Richmond, Va.>
to Danville, Va., 140 miles, with branches, including Piedmont RR., Ac,
SO miles Richmond York River A Chesapeake RR., 39 miles North
Carolipa RR., 223 miles; Atlanta & Charlotte Air Uno Railway, 269
miles; total system proper 751 miles. Operating leases Northwestern
North Carolina, 100 miles Virginia Midland Railway, 408 miles Washington Ohio & Western RR, 50 miles Wo-^terii North Carolina RR., 309
miles Charlcttc Columbia & Augusta RE. and leased lines, 363 miles
Coliunbla & Greenville RR., leased lines ana branches, 296 miles;
Richmond & Mecklenburg RR., 31 miles Georgia Pacific Railway, 567
miles; Statesville & Western, 20 miles Oxford & Henderson, 13 miles;
©xford & Clarksvllle, 50 miles: Northeastern RR. of Georgia, 40 miles;
Clarksvllle & North Carolina, 7 miles; High Point Railroad, 28 miles.
Controls by ownership of stock, operatmg separately: Asheville A
Spartanburg, 70 miles
Elberton Air Line, 51 miles
Danville A
western, (narrow gauge) 70 miles other lines, 96 miles
total auxiliary system, 2,569 miles total Richmond A Danville system March 1,
1892, 3,320 miles. Also steamship lines reckoned at 200 miles.
STOCK.— The stock is $5,000,000 (par $100), of which $4,976,100 Is
owned by Richmond & West Point Terminal, and pledged under its
collateral trust and preferred stocic agreements.
RECEivER.snrp.— On Juno 16, 1892, on account of the fluancial embarrassment of the Richmond & West Point Terminal, this roatl was
placed Inhandsof F. W. Iluidekoperand Reuben Foster as receivers.
In July, 1892, $1,000,000 receivers' certiticates wfre issued to pay
the operating liabilities prior to the appointment of receivers and the
car rental and interest obligations of the leased lines. Interest on the
leased line bonds due July 1, 1892, was paid as usual, in order to
keep the system intact, but the coupons of the Richmond A DanvUle
fionsol. 6s were boui/M by W. P. Clyde and G. F. Stone on presentation,
the receivers having no funds therefor. Coupons of the equipment 58,
however, wei"e paid on maturity, Sept. 1, at the Central Trust Co.
On Oct. 1, 1892, default occurred on R. A D. debenture 68 and conaol 58, Columbia <fe Greenville second 6s, Georgia Pacific second 5s,
Danvllla A Western 58 and Ashevill" A Spartanburg Os. See V. 55, p.
690, 639. On Nov. 1, 1892, Interest on Virginia Midland general mortfage bonds, tlie Richmond York River A Chesapeake second mortgage
onds and the Northeastern of Georgia firsts was paid, but Oxford A
Clarksvllle and Clarksvllle A Nortli Carolina coupons went to default.
As to underlying bondholders' committee see V. 55, p. 806.
Dividends since 1876— In 1881, 5 per cent; In 1882, 7; in 1887. 3; In
1888, 5; tn 1889, 10; in 1890, 10; in 1891, Jan., 5 July, 5 In 1892, nil.
Bonds, Etc.—The " debenture " bonds have a Hen on the proiwrty
flubject only to the consolidated mortgage of 1874, and are entitled to
«uch interest not exceeding 6 per cent per annum (cumulative) as remains out of the earnings of the company after paying the Interest on
the consol 6s, tlio rental of all properties lea.sed by the company at the
time the mortgage was made, and its operating and renewal expenses,
the sum so to be paid to bo determined i)y the Board of Directors.
In 1890 the Richmond A Danville issued $0,(KX),000 bonds Jointly
with the E. Teun. Va. & Ga. (See East Tenn.) A full statement of the
oompauy's obligations on its leased lines was in V. 54, p. 488.
Floating Debt.— Of the floating ael)t as it stood on Sept. 8, 1892,
•$4,434,000 was secured by collateral. This coUattral includes the
most valuable of the securities formerly in the R. A D. treasury and
oertain sicuritb s borrow, d from th R. & W. P. Terminal, as shown
lor that company. On tlie same date .$797,000 notes of the R. &
D. bore the mdorsfmnit of th Tiriuinal Company. Th floatiuK debt
was reported extended in July, 1892, at 6 per cent interest and 2i» per
K!ent commission. (V. 54, p. 79; ^. 55, p. 147, 257.)
Late.st Eaunin<;s.- From July 1 to July 31, 1892 (1 month), gross of
aystem $947, WO, against $l,107,O'2O.
Annual RKroiiT.— Year ends June 30. Report for year 1890-91 was
given in Chronicle, V. 53, p. 837, &c. 'The net surplus of Richmond <fe Danville proper above fixed charges was .$1,212,403; surplus
on other roads of the system, except Georgia Pacific, $111,70'/; detlcit
on Georgia Pacific, including improvements and betterments, $1,509,531; result on wliole systiem a deficit of .$185,4'2I. The following
flgures are for the 751 miles of the R. <fc D. system proper, advance
«tatement for 1891-92 being in V. 55. p. 721
1890-91.
1891-92.
1889-90.
Gross earnings
$5,600,712
$5,947,359
$5,944,783
Operat'g expenses and taxes. 3,186,882
3,085,491
3,037,067
48,687
i
300,000
6
83,303
7
53,511
5
500.000
4>ag.
2,375,000
6g.
1,000,000 See text,
380,000
6&7
300,000
4»sg.
70,000,000
5.000,000 See text.
Bonds— Prlnoipal,W'hen Due.
Sioekt—LiM
N.Y.,Del.&H.CanalCo. July
do
do
May
an.
2,000,000
7
760,000
6
5,997,000
3,358,000
4,498,000
1.490.000
il:
883,000
1,500,000
!«•
400,000
500,000
6
497,500 6 per an.
1,000,000
4
625,000
6
750,000
!«•
111,000
500,000
2,238,000 7 per an.
500,400 7 per an.
6&7
134,520 5
^
'44-66
"23
23
27
;
I
Various
Various
Richmond Sc Danville.— CSee
Net earnings
Interest on bonds
Amount
$100 $10,000,000 8 per
1871
1892
1874
1882
1886
1889
1891
1888
1873
1880
100
38
38
rf:
INTEREST OR DIVIDENDS.
or
Par
of
Equipment s.f. bonds, $'2,000,000, g.,sul). to call. c*
Northwestern, N. C, Ist M. ($1,5,000 p. m.) g. gu.o
Klchraond York River & Chesa^>eake, 1st raortg
2d mortgage, Richmond to West Point, Va
($1-1,.") 00,000)0*
E(iuipmentTnistl)onda,gold,a.f.,subJ. to call.c*
Size,
Rate per When IWTiere Pavable, and by
Road. Bonds Value. Outstanding
Payable
Cent.
whom.
of
i52
152
152
Debenture mortgage bonds, income cumulative.
Clarksvllle
191
confer a greBt favor by kIvIok Immediate notice of any error <U«covere<l In these Tables.
For explanation of colunin headings,
on
.
.
KAILROAD STOCKS AND BONDS.
1898.]
Sab«cribers
;
.
J.
&
&
&
&
&
&
&
&
&
A
A
&
A
A
A
A
A
None
'94
1915
1927
1936
1909
May •92-1906
do
do
do
do
do
do
1938
1894
1900
1892
1924
May, 1924
Nov. 1, 1937
Nov. 1, 1937
Oct. 1, 1936
July 1, 1892
Nov. 1, 1892
July, 1895
1901
1901
1901
July, 1899
Apr.
Jan.
Nov.
July
Feb.
paid.
May ,'92, coup.last paid.
May,'9'2, coup.last paid.
Apr.,'92,coup.la8t paid.
Phila. <Sc Richmond.
do
do
do
do
do
do
do
1892
1921
A
do
do
do
do
do
do
do
1,
1,
1,
2,
1,
1901-1902
N.Y.,PhlIa.orRlchm'd. Apr. 1, 1940
In default.
July 1. 1919
Richmond, OiBce.
July 1, 1892
N.
do
do
May 1, 1915
O. N. Y., Brown Brothers. Apr. 1, 1940
July 15. 1891
J.
obligations in 1888 and 1889; in 1890, O^j per cent; In 1891, 7 per
cent; In 1892, Jan., 3'«; July, 3»a.
From July 1, 1892 to Sept. 30, 1892
(3 months), gross earuiuis were $173,010, against $165,199 In 1891;
net, $51,629, against $53,073. In year ending June 30, 1892. gross
earnings were $746,528 net, $290,951 ; surplus over interest and
dividends, $49,834, asainst surplus of $52,084 In 1890. (V. 49, p. 826;
V. 50, p. 312, 520, 904; V. 52, p. 39; V. 53, p. 753.)
;
Richmond NIcholasvllIo irrlne Sc ReattyTlIIe.— Line of
roail— Versailles, Ky., to Beattyville at thoTliree Forks of the Kentucky
River. 97 miles, of wliich 62 miles are in operation. In Dec, 1891,
John McLood was appointed receiver. The claims against tlio company were said early in 1892 to be not exceeding $500,000 and the
bonded deljt as sliown in the table. In August, 1892, stockliolders
agreed to a plan tor completing the road to Beattyville at a cost of
from $400,000 to $500,000—.see V. 55, p. 257. Stock authorized,
$2,425,000; par, $100. (V. 51, p. 609: V 53, p. 846; V. 55, p. 257.)
Richmond ic Petersburg:.—Owns from Richmond to PotersburgVa., 23 miles. James River braueli, 4 miles. The consolld.ited mort.
gage of 1890 provides for outstanding obliaatlons, double-tracking, &o.
Dividends since 1883— In 1884. 1885 and 1886. 5 per cent: in 1887,
6; in 1888, 1889, 1 890 and 1891, 7; in 1892. January, 3 "s
July, 319.
From July 1, 1892, to Sept. 30, 1892 (3 months), gross earnings were
$88,340, against $81,367 in 1891 net, $30,719, against $25.8,5?).
Fiscal year now ends June 30. In year 1891-92, gross earnings,
$338,263; net, $95,113. In 1890-91 gros.s, $325,268; net, $73,878;
total net income, $91,177; interest paid, $24,500; dividends (7 per
cent) $70,000.— (V. 51, p. 143; V. 53, p. 879.)
;
;
Richmond & Went Point Terminal Ralliray
Jc
Ware-
house Co.— The mileage controlled and operated was about
8.816 miles (including water lines) as follows: Richmond <Se Danville system, 3,320 miles; East Tennessee Virginia dc Georgia system,
2,318 miles; Alabama Great Southern, 296 miles; Central Railroad of
Georgia, 2,682 miles; Water lines
Ocean Steamship Company and
:
Baltiinore Ches.
A
Rich. S. B.
HisroRV, Etc.— Incorporated by an act of the Legislature of
Virginia of March 8, 1880, and purchased a large amount of Southern
railroad securities, which enablea it to operate the systems abeve named.
Messrs. Clyde, Strong,
etc.,
became
directors In Sept., 1892.
(V. 55, p.
463.)
BECEtVEBSHip.—On Juno 22, 1892, W. G. Oakman, theretofore President of the Terminal Company, was appointed its receiver on application of parties largely inUsrested in the securities of the company and
on August 23 Ilia receivership was made permanent. Default on the
company's bonds took place Aug. 1 and Sept. 1. The Central of Georgia,
the Richmond A Danville and the East Tennessee are also in tlie liahds
of receivers. As to various committees appointed l)y Terminal security
holders see references below and V. 55, p. 257, 332. Circular of advisory committee of seventeen was in issue of Aug. 27, 1892.
In September, 1892, the court gave the receiver permission to bring
agreement and to recover tha momys by
suit to cancel the
which, through purchase of the stock and most of the bonds of the
Georgia Company— which see— the Terminal became holder of $4,000,000 Central of Georgia stock at a price it is claimed far exceeding its
value. See V. 55, p. 422.
Oai'ITal 8t<x:k.—The preferred stock Is scoured by deposit of $2,500,100 Richmond A Danville stock, of which In July, 1892, $180,000 had
been hypothecated.
Dividends on preferred stock— In 1887, 2ia per cent; In 1888, 5; in
1889,5; in 1890. 5; in 1891, Jan., 2'a inJuly, 2'a; since, none.
PRICE OF Stock.— Common in 1888,19 3)29^; in 1889, 19>3a27%;in
1890, 13ia®28>4: in 1891, SagaiO^: in 1892, to Nov. 18, inclusive,
6k®17'9. Preferred In 1887, 43a87>4; in 1888, 55»87'4: in 1889.
76»84%; in 1890, 60'a3i87»2; In 1891, 43a)76>fl; In 1892. to Nov. 18,
*
Inclusive, 37379.
Floating Deiit, Securities Owned, Etc.— On Sept. 8, 1892, the
receiver repoit«l tlie company's floating delit to be $279,200, and the
notes of the Riciimond A Danville endorsee! $797.CK)0. To secure floating debt of tiie Terminal were pledged $230,000 of securities shown
below and $137,000 Chester A Lenoir and Cheraw A Chester bonds
borrowed from tlie Richmond A Danville. The securities owned by
the Terinin.ll were on Sept. 10, 1892, as follows
Loaned R. <t D. BB. Co.
SeeurilCet in Go's. Ireasuru.
$195,000
E. Tenn.Va. AQa. com. $5,880,000 Oxford A Hend. 1st M.
391,000 State8ville&Weat.lst.
2d pref.
300,000
Do
325,000
Oxford A Hend. com..
68,640
Total par value
Rich. & W. P. Ter. com.
$495,000
500,000 Loaned R. <t D. attd by them
8tatosville.tWe9t.oom.
34,233
pledged onjloatitig deal.
Virginia Midland com.
124,997 Rich. itDan. eouip. 6s.
Various other stocks..
$726,000
160,000 E.Tenn.Va.&Ga.Ex.5s
620,000
Rich. A Mecklenb. 2ds.
do
do Gen. M. 5s.
1,000
Stateof Georgia 3ifl8..
230,000
.Stateof Georgia 3138.
701,000
$7,484,870 Virginia Midland com.
840,000
Total par value
500,000
Owned ami pledged for B. T. Co. E. Tenn. V. i G. 1st pf.
do
2d prt-f
floating debt.
1,820,000
$80,000 R. A W. P. Ter. com.
Virginia Midland com.
346,200
100,000 Ga. Pac. Equip. 68....
E. 'Tenn. V. & G. 2d pf.
47,000
50,000
Col. A Aug. st'k.
Char.
Total par valu
$5,830,200
$230,000
Total par value
;
:
•
:
:
.
.
..
;;
SUPPLEMKNT.
INVESTORS'
id'3
Subscribers
ivlll
confer a great favor by giving Immediate notice of any error discovered In these Tables.
£oHd»— Prinol
INTEREST OR DIVIDENDS.
RAILROADS.
For explanation
of
[Vol. LV.
Miles
column beadings,
&c., see notes
on lirst page of tables.
Date
Size, or
Amount
of
of
Par
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding
Cent.
Payable
Whom.
pal. When
Due,
Stocks— LuMt
Dividend.
Sichmoiid
<e West PI. Ter. H. <i TV. Co.—Conelutled.
Collat. trust bonds, gold, subject to call at 105 ..
Consol. collat. tru8t,gold, subject to call at lOO.c*
Rio Orande Junction— ^tock
c*
1st mortgage, gold, guar. Jointly
Sio Orande SoH(flc;-K— Stock, $25,000 per mile
mile, gold
c*&r
Ist mortgage, $25,000 per
Bio Orande TTes^crrt— Preferred stock
c*
1st trust mortgage, gold
Roanoke <£ Southern — Stock
1st Mortgage, goM, $15,000 p. m., guar. p. &i...o*
Equip, trust ($210,000) guar. p. &i. liy N. &W- c*
Roc/i. <t Oenesce Fai.— Stock, 6% rental N.Y.L.E.&W.
Koe/c Island t£ Peoria Stock
1st
mortgage
—
r
Consolidated 1 st mortgage
r
Rome Watertmmi A Ogdensburg Stock 5 p. o. guar.
1st M.,Wat. & R.,Rome toCapeVln.,9.f.,notdr'n.c*
Consolidated mortgage (See remarks)
c.
Syracuse Northern Ist mortgage (gold)
c*
Oswego & Rome— 1st mortgage, guar
Oswego & Rome 2a mtge.g., gu.by R. W. & O.C.
Oswego Bridge and Syr. Pb. & Os. 1st mortgages
Norwood & Montreal Ist mortgage, gold
K. W. & Og. Term. RR. Co. 1st mort., gold, guar.c*
—
1887
1889
62
62
172
172
522
504
122
122
18
113
91
113
1889
1890
1889
1892
1891
1878
1885
$1,000
1,000
100
1,000
100
1,000
100
l,000&c
100
1,000
1,000
100
25,000
5,000
100
1855 100 &c.
1874
4,000
1871
1,000
1865
1,000
1891
1,000
1885
1886
1888
1,000
97
409
45
28
28
18
13
14
Bonds.—The 6 per cent trust bondsot 1887 (see abstract of mortgage
p. 575) are a first lien on the following
Rich. & Dan. stock. . . . $1,760,900 West N. C. consols. E.T.Va. & Ga. Ist pref.
6,000,000
do
2d mort
Col. & Gr en. com
1,000,000
do
do pref
1,000
Total par value. . ..$17,296,900
Va. Midland stock
3,100,000
The consol. collateral trust 5 per cent mortgage bonds of 1889 (trustee. Central Trust Co.; see abstract of mortgage In CHRONroLE, V. 49,
p. 115), are a second lien on the securities pledged for the 6 per cent
bonds and on $2,500,000 Richmond & Danville 8tock,pledged for the
preferred stocli, and a first lion on the following:
Char.C.& Aug.RR.sfk. $1,300,000 N'east.BR.ofGa.g'n.M.
$315,000
Va. Midland Ry. stock.
470,000
do
do stock.
120,000
Western N C.RR.,com. 3,160,000 Rich.& Meck.BR.stock
300,000
do
do
pref.
3,160,000 Rich. & Dan. RR.stock.
70S, 100
Ga. Pacific By. stock4,370,000 E.Tenn. Va.&Qa. 1 st pf
2,283,200
do do income mort. 1,397,000
do
do
2dpf. 4,225,000
Ga. Co. 5 p.c. col. trust. 3,447,000 Central RR. & Banking
Ash. & 8part..RR.2d M.
215,000
Co. of Ga. stock
220,000
do
do
stock.
1,040,000 Georgia Co'y stock. . 11,990,000
—
5
g-
6 per an.
5 per an.
1(
6
5 per in.
6
5
7
7
5
6&6
5
5
g.
g.
g.
g.
Mch.
1,
1,
1897
1914
N. Y., Maitland, P.& Co.
Dec.
1,
1939
N. Y., Maitland, Phelps July
N.Y.,offlce,32 NassauSt. Nov.
N. Y., State Trust Co.
July
1,
1,
1,
1940
1892
1939
1.
1922
N. Y.. Ed. Sweet & Bait.
Bait Morc.Ti-.&Dep.Co.
N. Y.,by N.Y.L.E.&W. Co
N. Y., Com Exoh. Bank,
Mch.
.$21,000 Dec. 1
July
JvUy
1892
1892
do
do
Jan.
1906
do
do
Jan..l. 1925
N.Y., Gr. Cent. Station, Nov. 15, 1892
do
do
Sept. 1, 1910
do
do
July 1, 1922
do
do
July 1, 1901
do
do
May 1, 1915
do
do
May 1, 1915
do
do
Feb. 1, 1915
do
do
Apr. 1, 191»
do
do
May 1, 1918
1,
1,
1,
;
(
;
mwas
paid February, 1891, and the
first
quarterly cash dividend
of
per cent May, 1891; Aug. II4; Nov., \^4,. In 1892, February,
I14 per cent; May, II4; August, Hi; November, II4.
Price of Stock—Common— In 1890, 15®24''8; In 1891, 23®44; in
1892. to Nov. 18 Inclusive, 35%®41.
Preferred stock— In 1890, 40®55; In 1891, 55i4®75'8; in 1892, to
Nov. 18 Inclusive, 64®74.
Bonds.— See abstract of mortgage (Central Trust Co., trustee) In V.
and statement to New York Stock Exchange In V. 50, p. 73.
Latest Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months),
49, p. 237,
gross $759,646, against $740,481 in 1891; net, $295,917, agst. $311,661.
Annual Report.— Fiscal year ends June 30. Annual meeting is
held on fourth Monday in July. Advance statement for 1891-92 in V.
55, p. 420. P sport for 1890-91 In V. 53, p. 672, 674.
1889-90.
1890-91.
1891.92.
Mileage
Gross earnings
Total net Income
Interest paid on bonds
Rental and miscellaneous
Dividends
Surplus
$2,265,067
$2,495,717
$2,513,007
for year ending Novemlier 30, 1891, was given
length in V. 53, p. 878, and showed the following income account.
at
1890-91.
Betjemte—
Expenses—
1890-91.
Divs. Rich. & Dan
$467,620 Int. 6 per cent col. trust. $330,000
1 st pref
Dlvs. E. T.
175,664 Int. 5 per cent col. trust.
553,250
Divs. Cent. RR. of Ga..
316,964 Interest on Ga. Co. 5s...
27,650
Int. E. T. 1st mortgage.
18,000 Divs. on pref. stock
249,850
Various interest
281,685 Gen. anA legal expenses
66,252
(^
g-
Feb.
;
stock
387
$1,622,234
520,686
393,500
11,143
407
$2,346,130
856,783
535,500
15,144
255,369
522
$2,643,924
911,458
560,000
20,007
312,398
Total payments
$404,643
$806,013
$892,406
Surplus
$116,043
$50,770
$19,051
-(V. 52, p. 126, 499, 574; V. 53, p. 59, 187, 324, 408, 656, 6T2, 674 i
V, 54, p. 243, 526, 598, 762; V. 55, p. 100, 420.)
The company's report
;
4
Feb. '92, coup, last paid.
Mar.'92, coup, last paid.
;
Genekal Finances, ETC—The controlled companies, Richmond &
Danville, Central of Georgia and the East Tennessee Virginia & Georgia
had run up fioating debts which embarrassed the Terminal Company,
and in 1892 all these companies, including the Terminal Company
Itself, were placed in the hands of receivers.
See above and also remarks under the respective companies. A plan for readjustment of the
Richmond Terminal finances was issued in March. 1892, by the Olcott
committee, but the underlying securities failed to come in. See V. 54,
p. 487. Messrs. Drexel, Morgan <Sc Co. were asked to undertake the
reorganization but declined on the ground that they could not seou re
the co-operation of all factions. See v. 54, p. 888, and V. 55, p. 23.
Earnings.— The Olcott committee prescntei the foLowing statement
showing the result of operating the present system.
Gross earnings in year 1890-91 (including Alabama Gt.
Southern but excluding the Central of Georgia)
$28,338,500
Net earnings over expenses and taxes
8,744,736
Fixed charges
9,474,837
Annual Report.— For the year ending June 30 the earnings of all
allroad lines then controlled were as follows
1888-89.
1889-90.
1890-91.
Miles operated November 30..
7,521
8,558
9,052
Gross earnings
$35,596,983 $41 ,361 ,095 $43,849,344
Net earnings
$11,699,512 $13,132,903 $13,968,464
Charges
9,434,445
10,637,185
11,455,457
Roanoke & Southern.-Owns
$1,227,002
881, 921, 969; V. 54, p. 34, 79, 120, 329, 410, 443, 486, 487, 560, 561,
598, 643, 684, 762, 846, 888, 924 V. 55, p. 23, 59, 147, 178, 216, 257,
298, 332, 463, 504, 590, 724.)
Rio Grande Junction.— Owns road from Rifle Creek, Col., to a
connection with the Rio Grande Western at Grand Junction, 62 miles.
This is a connecting link in the standard-gauge route between Ogden
and Denver and Colorado Springs. Leased by Colorado Midland and
Denver & Rio Grande at 30 per cent of gi'oss earnings, which companies
jointly and severally guarantee the bonds, principal and interest.
Stock is $2,000,000; par, $100. (V. 51, p. 829, 830; V. 52, p. 204.)
Rio Grande Southern.— See Map Denver <t Rio ffroiide.;—Road
completed Jan^ 1892, from Dallas (new name Ridgeway), Col., on the
Denver & Rio Grande, southerly to Diirango, 165 miles, and branch to
Tellurlde, 7 miles, all narrow gauge. Built in the interest of the Den. &
Klo Grande. Mortgage (trustee. Central Trust Company of New York)
Is for $5,000,000 at $25,000 per mile on road and equipment.
See
abstract of mortgage V. 54, p. 163, and application to New York Stock
Exchange in full In V. 54, p. 446. Stock authorized. $."),000,000
($25,000 per mile)—outstanding $4,310,000; par, $100. From July 1
to Sept. 30, 1892 (3 months), gross earnings were $197,308, against
^80,295 In 1891; net, $99,930, against $46,715; interest, etc.,
$62,960; balance, surpbis, $36,970. In year ending June 30, 1892
5 g.
5 per an.
M.
;
.
Total
5 g-
& A.
& 8.
J. & D.
J. & J.
Q.-F.
J. & J.
M. & S.
J. & D.
J. & J.
J. & J.
J. & J.
J. & J.
Q.-F.
M. & S.
A. & O.
J. & J.
M. & N.
F. & A
F. & A.
A. & O.
M. & N.
F.
See jlfap.j— Line of Road— Owns Crevasse, Col., to Ogden, Utah, 310 miles, to Alta, Bingham Coal Mines, etc.,
57 miles San Pete branch. Thistle to Manti, 61 miles ; Sevier Railway
(proprietary line— all securities owned), Manti to Salina, 26 miles
Tintic Range Ry. (proprietary line, all securities owned)— Springville
to Eureka, etc., 50 miles; total owned, 504 miles. Leases Crevasse to
Grand Junction, 18 miles. Total operated, 522 miles. The Rio Grande
Junction Road, 64 miles, opened in November, 1890, affords a through
connection of standard gauge to the Denver &, Rio Grande and the Colorado Midland.— (See V. 51, p. 680.)
History.— Formed in June, 1889, to succeed the Denver & Rio
Grande Western, by plan of March, 1889, for widening gauge and retiring old securities with new issues. See V. 48, p. 429; V. 52, p. 941.
Capital Stock.— Common stock authorized and outstanding, $10,000,000 preferred stock authorized, .$7,500,000 outstanding, as in
the table; par, $100. Preferred stock is entitled to 5 per cent dividend,
non-cumulative, then common stock to 5 per cent, after which both
classes of stock share pro riita.
In June, 1892, common stock for $2,500,000 was sold to common and
preferred stockholders at 40, the proceeds paying for the securities of
tlie Tintic Range Ry., completed in March, 1892.
The acquisition of
this line is expected to add largely to net earnings without any increase
in fixed charges. See V. 54, p. 526, 762.
An increase in preferred stock from $5,000,000 to $6,250,000 was
authorized in April, 1891, the new stock being taken by stockholders at
$65 per share. The proceeds of this issue were applicable to new equipment increased terminal facilities, etc. See V. 52, p. 499.
Dividends.— Preferred stock— A dividend of 2's per cent in preferred
Wash. O.&W.RR. Inc..
625,000
do
do
stock.
1,500,000
Total
$40,845,300
In 1890 the company guaranteed $6,000,000 Cincinnati Extension
bonds, issued (olntly by Richmond & Danville and East Tennessee, Virginia & Georgia and secured by deposit of the stock purchased in obtaining control of the "Erlanger" roads.
$1,259,933
gg.
Rio Grande Western.—
.
Net for year
$32,931
—(V. 53, p. 96, 224, 256, 408, 475, 641, 674, 713, 754, 804, 846, 878,
6
5
gross earnings, $491,607; net, $267,400; interest charge on 112
miles operated during the year, $140,000 balance surplus, $127,400.
(V. 53, p. 674
V. 54, p. 160, 163, 444, 446; V. 55, p. 463, 'J64.)
V. 45,
Total
$5,500,000
11,065,000
2,000,000
1,850,000
4,310,000
4,310,000
6,250,000
14,000,000
2,396,450
2,041,000
210,000
555,200
1,500,000
150,000
450,000
8,768,100
417,800
9,081,000
500,000
350,000
400,000
275,000
130,000
375,000
from Roanoke, Va., via Walnut
Cove, on Cape Fear & Yadkin Valley Railroad, to Winston, N. C, 122
miles (completed in March, 1892), and from March 1, 1892, leased for
999 years to the Norfolk & Western, which guarantees (by endorsement
on the bonds) the principal and interest of the first mortgage
bonds and the lessee also agrees to pay over any balance of earnings
after operating expenses, taxes, interest. Improvements, &c. See V.
The first mortgage (trustee Mercantile Trust &
54, p. 405, 601.
Deposit Company of Baltimore) is for $2,041,000, and in addition
thereto $15,000 per mile for extensions not to exceed in the aggregate
100 miles, and $10,000 per mile for branches not to exceed 50 miles.
(See V. 54, p. 684.) Capital stock authorized $8,000,000; outstanding
$2,396,400, of which Norfolk & West, owns $1,837,800; par of shares.
$100. (V. 54, p. 405, 601, 684, 889.)
Rochester Si Genesee Valley.—Owns from Avon to Rochester^
N. Y., 18 miles. Leased July 1, 1871, in perpetuity, to Erie RailwayRental, $34,012. James Brackett, President, Rochester, N. Y.
Rock Island Peoria.—Owns from Rock Island, 111., to Peoria,
Rock Island & Mercer County Railroad, 22 miles total,
ni., 91 miles
113 miles. 'The Peoria & Rock Island was sold in foreclosure April 4,.
1877, to the bondholders. In year 1889-90 gross earnings were $655,106; net, $345,321; surplus over interest, taxes, 4fec., $285,534; dividends, $75,000. In year 1890-91, gross $764,595. Semi-annual dividends of 5 per cent per annum have boon paid. President. R. R. Cable.
;
'
'
&
;
;
Rome W^atertoivn Sc Ogdensburg.—fSee Map New York Cen<t Hudson River Railroad.) — Owns from near Niagara Falls to
Massena Springs, N. Y., 299 miles, less 28 miles, Richland to East
Oswego, leased from the Oswego & RomeRR.; Richland t<- Rome.41 miles;
brancnes to Cape Vincent, Ogdensburg, Pulaski, Fulton, etc., 109 miles
total owned, 421 miles. Leases Utioa & Black River Railroad, Utica to
tral
ICOVEMBER,
1892. J
RAILROAD STOCKS AND BONDS.
133
—
,.
.
INVESTOKS' SUPPLEMENT.
194
)
[Vol. LV.
confer a great favor by glTlng Immediate notice of any error dlaeovered In tlieae Tables.
Bonds— FrineiINTEREST OR DIVIDENDS.
pal, When Due.
MllCB Date Size, or
Amount
of
Par Outstanding Rate per Wben Where Payable, and by Stocks— l,ast
For explanation of column lieadings, &c., see notee of
Cent.
Payable
Whom
Dividend.
Road. Bonds Value.
on first page of tables.
Sabscribers
tvill
RAILROADS.
—
Xome Watertowmt
Ogdensburg. (Concluded.)
& Bl. Elv. 8t'k,7 p. c. perpet. gu. by R.W.&O.
c
Black River & MoiTietown Ist mortgage
c
Clayton >fe Theresa 1st mortgage
Ist mort. on 98 miles, 2d on 52 miles, g., guar.c*
Rutland Stock, preferred
General mortgage (8 per cent, reduced to 6)
o
2d mortgage in exchange for equipm't bonds, &0..0
150
36
16
150
120
120
120
120
Utica
—
o*&r
First cousol. mort. for $3,500,000. gold
Sag. Tuscola <t Huron— 1st M., $15,000 p.2i.,gold.c*
c&r
Baginaw Valley d St. Louis Ist mortgage
—
67
36
— Common stock
Johtisbury d Lake Ohamplain
Preferred stock
8t.
c&r 131
let mortgage
Consolidated mortgage (for $1,000,000), gold. .0* 131
131
Bonds for $2,500,000
St. Joseph tt Grand Island Stock
0*
252
iBt mortgage, gold.. Interest guar, by U.P
252
2d mortgage, income, gold
c*
Kan. C. & O. RE. IstM. ($15,OOOp.m.)g.,int.gu.o*&r 196
Bt. L.Mton a Springfield.— Bee St. Louis Chicago & ST. Pa
St. Louis Alton (£ Terre Haute Common stock
Preferred stock (7 cumulative) convertible
1st mort., series A, siuking fund, not drawn. .
207
1st mort., series B, sinking fund, not drawn... o*
207
2d mortgage, preferred, series C
207
c*
$100
1874 500 &c.
1873 500 &c.
1890
1,000
100
1872 100 &c.
1878 100 &c.
1,000
1891
1891
1,000
1,000
1872
50
50
1880
1,000
1884
1,000
•68-71
—
—
Do
do
SerlesD
2d mortgage, incomes
Dividend bonds, income (see V.
207
207
c*
o"
389)
•48, p.
100
100
1862
1862
1862
1862
1862
1881
M.
F.
J.
M.
M.
&
&
&
&
&
&
&
&
&
&
N. Y.,Gr. Cent. Station. Sept. 30, 189Z
do
do
Jan. 1, 1894
S.
J.
J.
J.
j:
1,
1,
1,
Nov. 1,
Aug. 1.
July 1,
Sept. 1,
1,
1898
1922
1892
1902
1898
1941
1931
1902
& L. ER. Of.
Oct.
do
Apr.
1,
1,
1910
1914
1,
1.
1926
1925
July
do
do
do
do
July
Rutland, Clem. Nat. Bk. July
y. Bos.,GlobeNatBk.&Rut
A.
do
do
New York City.
New York City.
J.
S.
N. Boston, Second Nat. Bk.
A. & O. Boston, B.
Various
do
M.
5
J.
J.
g.
2,300,000
1,170,800 See text,
1,100,000
7
1,100,000
7
1,400,000
7
1,400,000
7
1,700,000
7
1,357,000
6
1,000
1,000
1,000
1,000
1,000
1,000
;
;
;
ings ara included in those of the lessee.
Dividends from 1887 to February, 1891, both Inclusive, at rate of 6
per cent yearly March, 1891, 20 per cent in stock in May and thereafter 5 per cent per annum guaranteed. The consol. 58 due 1922 have
their interest payable in gold, but not their principal.
The Utlca & Black Elver is leased in perpetuity, interest on bonds and
7 per cent on stock being guaranteed. The consolidated mortgage
Iwmds of 1890 are guarauteed, priuclpal aud interest, by the Rome
Watertown & Ogdensburg. See V. 50, p. 771.
The Oswego & Rome road is leased in perpetwity, and the second
;
mortgage bonds guarauteed by Rome Watertown & Ogdensburg by
•ndorsement. (V. 52, p. 39, 322, 463, 498, 796 V. 53, p. 713, 793.)
Rutland.—Owns from BeUow's Falls, Vt., to Burlington, Vt., 120
miles. This road has been through many changes. Leased in 1890
for 999 years from January 1, 1891, to the Central Vermont, the
rental being $345,000 per annum; this wiU be increased by $25,000
per annum as new equipment and other permanent improvements are
put upon the property during the next three years, making the
rental $370,000 per annum, payable monthly In gold. The net income will pay 4 per cent on the preferred stock now, and after the
funding of existing mortgages may pay 5 per cent. As to lease, &o..
;
Bee V. 53, p. 124.
May
& N,
& J,
& J
N. y.. Central Trust Co,
May
See text.
July
Jan. 1, 1927
N. Y., Central Trust Co,
J.
A.
F.
&
&
&
&
&
Jan. 10, 1889
J.
O,
A,
N,
M.
M.
N,
June 1
N.Y.,U.
Trustee,
do
do
do
do
8.
do
do
do
do
July
July
July
July
July
1,
1,
1,
1,
1,
1894
1894
1894
1894
1894
AfterJan.,'94
&
St. lionls Alton
Terre Haute.—Proprietary line, East StBelleville & Southern Illinois
Louis to Belleville, 14 miles. Leases
Railroad, Belleville to Du Quoin, 111., 57 miles; Belleville & Eldorado
RR., from Du (Juoin to Eldorado, 50 miles Belleville & Caroudelet RR.,
from Belleville to East Caroudelet, 17 miles St. Louis Southern, Pinckneyville to Carbondale, 111., 31 miles; Carbondale & Shawneetown,
Carbondale to Marion, 17 miles; Chicago St. Louis & Paducah, Marlon
to Paducah, and branch, 53 miles; total operated, 239 miles. This is
the Cairo Short Line.
Organization.— Successor to the Terre Haute Alton & St. Louis sold
In foreclosure In 1861. In October, 1890, the main line from East
St. Louis, III., to Terre Haute, Ind., 189 miles, and branch, 4 mUes,
which had theretofore been leased to tlie Cleveland Cincinnati Chicago & St. Louis, were sold to that company for $10,000,000 of 4 pep
cent 190-year gold bonds. See below aud V. 51, p. 52, 114, 383, 494.
Dividends on preferred stock since 1876.— In 1878, 2 per cent: inl881,
3 and 55 in bonds; from 1882 to 1885, uiolusive, 7; In 1886, 2is; liil887,
nil; in 1888, 1^4; in 1889, 1; none since.
Stock and Bonds. The preferred stock has a prior right to a cumulative dividend of 7 per cent before any is declared on eoiumon aud th»
arrears accrued to Jan. 1,1891, amounted to 3714 per cent, or $944,163. The preferred stock is also convertible into common at par.
The sale of the main line did not affect the status of this company's
securities. Of the $10,000,000 bonds received, $250,000 were placed
in a sinking fund for the issue itself (bonds to be purchased, not drawn,
at or under 105), and $(3,700,000 are reserved to retire the bonds maturing in 1894. Of the bonds immediately at the disposal of the
company, $2,500,000 were offered in exchange for the preferred
stock, being sufficient to retire aU but $800,000 thereof, at the rate of
$150 in bonds for $100 of stock. To Sept. 1, 1892, $1,297,600 of
preferred stock aud fractionals had been retired, leaving $1,813,000
bonds in the company's treasury. See V. 52, p. 42 .81. 351. 499 7
Of the $2,200,000 Series A and B bonds given in the table above as
outstanding, $1,093,000 on Jan. 1, 1892, were in the sinking fund. On
Jan. 1, 1892, there were $100,000 bills payable, issued in 1891 lor improvement of terminals. St. Louis Alton & Terre Haute 7 per cent
bonds carry the right at stockholders' meetings to 10 votes.
St. L. Alt. & T. Et. dividend b onds are not entitled to receive anything
for principal or interest until all arrears of dividend upon the preterrea
stock and other prior legal claims shall have been adjusted, and a surSlus of annual earnings reached which will be applicable to such divl
end bonds. See V. 48, p. 389.
:
;
;
—
!
Stock.—The Delaware & Hudson owns $3,000,000 of the preferred
and $1,000,000 of the $2,480,60(; common stock, par $100. Dividends
on preferred stock since 1880- In 1881, l^a per cent; in 1882, 2; in
1884 and 1885, 1; In 1886 and 1887, 1^2; In 1888, 1; in 1889, l^s; in
in 1891, 2
In 1892. Jan., 2, July, 2.
Is a first lien on rolling stock and pergonal property. The consolidated mortgage (trustee, tJ. 8. Trust Co.
ofN. Y.,)iB for $3,500,000, but of this $3,000,000 can be Issued only
as prior bonds for like amount retired. V. 53, p. 1 24 ; V. 55, p. 2 5 6
Sagluair Tnscola
Owns from Saginaw, Mich., to
Bad Axe, 67 miles. Opened as a standard gauge road June 29, 1891.
;
J.
J.
J.
J.
UL.
;
Bonds.
5g.
M.
4
6,998,000
1,679,000
2,713,000
'ioo
;
1890, 3
m
4,600,000
1,000
1885
1,000
1885
1887 500 &c.
Ogdensburg, and Clayton branch, 150 miles Oswego & Rome Eailroad
as above, 28 miles Carthage Watortown & Sackett's Harbor Railroad,
Carthage to Sackett's Harbor, 30 miles trackage—to Niagara Falls, 2
miles Fultou to East Oswego (Now York Ontario & Western Railway)
12 mUes total leased, 222 miles Total operated, 643 miles.
In March, 1891, leased diu-ing the full term of its corporate existence
and renewals thereof to the Now York Central & Hudson River RR.
Co., which assumes the debt aud guarantees 5 per cent on the stock.
The stockholders received a stock dividend of 20 per cent. For wording
of guaranty see V. 52, p. 463. Stock authorized $10,000,000. Earn:
$1,103,000 7 per an.
500,000
7
7
200,000
1,300,000
4,239,100 4 per an.
6
1,500,000
5
1,500,000
500,000
41a g.
1,000,000
446,000
2,550,090
1,298,500
6
550,000
91.000 5g. <&6
;
—The second mortgage
& Huron,—
Leased Lines— The Belleville it So. Illinois is leased to this company
The first mortgage is for 999 years from Oct. 1, 1866. Lease rental 40 p. c. of gross earnings
(except on coal, .fee), 30 per cent above $7,000
to the Continental Trust Co. for $1 .000,000. From January 1 to Sept. up to $7,000 per mile
per mile, and 20 per cent on any excess of $14,00O
30, 1892 (9 months), gross earnings were $89,677, against $77,406 in and up to $14,000
sinking fund of $5,000 per year guar1891; net, $26,5'; 1, against $13,582. Wm.L. Webber, Presid't, Saginaw. per mile. Interest on bonds and
anteed by lessees.
St. Johnsbnry & Lake Champlaln.— Owns from Lunenberg,
Southern Illinois is $430,000 and preCommon stock of BelleviUe &
Vt., to Maquan Bay, on Lake Champlaln, 120 mUes, and branch from ferred $1,275,000, and dividends on preferred stock have been i^ in
North Concord, Vt. to East Haven, 1 1 miles total, 131 mUes. This was 1881 513 in 1882 6I4 in 1883 5^2 In 1884 5 in 1885 5 In 1886 6%
the Portland & Ogdensburg, Vermont Division, reorganized under in 1887 6% in 1888 and 1889 in 1890, S^s In 1891, 8'^ In 1892, 8.
present title in 1880. In Septemlter, 1890, $2,500,000 of 4 per cent
The Belleville <t Oarondetet is leased for 983 years from June 1, 1883,
bonds were authorized to fund floating debt, (which on June 30, 1891, at a rental of $30,000 per year, which Is a guarantee of interest on the
amounted to $1,200,053), and for other purposes, but none had been bonds, the stock of $500,000 being owned by the St. L. Alt. & T. H.
Issued up to March 1, 1892. Operated by Boston & Maine. In year
The {Belleville a Eldorado is leased for 985 years from July 1, 1880,.
ending June 30, 1891, gross earnings were $386,493; deficit, $3,364; at a rental of 30 per cent of the gross earnings, but $15,400 per year
nterest, &c., $38,050; deficit, $41,414, (V. 51, p. 345.)
The St. Louis Sotithern
guaranteed. Stock, $1,000,000; par, $100.
St. Joiiepb &. Grand Island.— r<See Map of Union Paeiflc.)— Railroad (including Carbondale d Shawneetown) is leased tor 980 years
IilHE OF BOAD— St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kan- for 30 per cent of gross earnings, minimum to be $32,000, and interest
sas City & Omaha Railroad, Stromsburg to Alma, 151 miles, and McCool on bonds being guaranteed to that extent. The Chicago St. Louis <t
Junction to Kansas City & Omaha Junction, 44 miles; total, 447 miles. Paducah ieoad is leased for 978 years from March, 1888, at 30 per cent
rental to pay first
History, Gcar-inty, Etc.— Successor of the St. Joseph .fewest., sold of gross earnings, with guarantee of principal, and
mortgage bonds on this
In foreclosure in 1885. Operated by the Union Pacific, which owns mortgage interest. (V. 47, p. 801.) The first
September 1, 1892, at 105.
of the $4,600,000 stock (par, $100), and guarantees the in- road are redeemable after
$2,301,500
Latest Earnings.— From Jan. 1 to Aug. 31, 1892 (8 months), gross
terest on the first mortgage bonds.
In January, 1892, a new adjustment was made with Union Pacific by $947,902, against $889,101 in 1891; net, $371,875, against $346,971.
which $35,000 is deposited monthly for Interest on the 1st mortgage
Annual Eeport.— Fiscal year ends Dec, 31. Annual meeting is held
bonds, and the St. Joseph & Grand Island is not responslljle for more at St. Louis on the first Monday In June. Eeport for 1891 was in V.
than half the interest on the Kansas City & Omaha bonds. In June, 54, p. 720. Earnings have been;
1892, all but $150,000 of the $1,679,000 of the St. Joseph & Grand
1891.
1890.
1889.
1888.
f»
Oi
<&
Island Income bonds had assented to the agreement with the Union
^
Pacific under which coupon due July 1, 1890, was to be paid. (V. 54, Brow earnings
949,307 1,110,426 1,336,910 1,435,624
Common stock authorized, $600,000;
par
$1()0.
;
,
;
;
p. 79, 965.)
;
;
;
Neteainings..
Kansas City & Omaha bonds have interest guaranteed by St Rentals paid
Joseph & Grand Island and Union Pacific under a perpetual agreement
Net revenue
for operating the road. The Union Pacific owns $1,182,500 bonds and
$1,595,500 of the $4,410,000 stock of the Kansas City & Omaha, Add rental of mainline, etc..
and St. Josenh & Grand Island owns $1,822,500 stock.
Total net receipts
Earnings.- From Jan. 1 to Sept. 30,1892(9 mos.), gross earnings
were $894,210, against $616,354 In 1891 net, $324,127, against $109,- tnterest, funded debt, etc
993. In 1891 gross earnings, including Kansas City & Omaha, $983,- fJalance, siu-plus
663 net, $252,761; total net income (iricluding amount received from New equipt. and betterments.
;
;
;
;
;
;
400,796
249,936
461,748
332,095
527,767
362,149
150,860
452,540
129,653
452,729
165,618
*440,412
603,400
487,701
115,699
50,481
582,382
523,078
59,304
40,000
606,030
479,608
126,422
136,388
580,95ff
393,911
187,045' 368,135
555,180'
469,000
86,180
161,505-
;
Union
Pacific undertratticagreement, etc.,) $424,835; interest
on bonds,
$420,000; corporate expenses, $3,725; due Kansas City & Omaha
under trafllc agreement, $129,397; deficit for year, $128,287. In 1890
gross $1 253,591; net, $355,454. (V. 54, p. 79, 243, 965.)
St. liouls Alton
SprlnKfleld.— (Sbb St. Lovis Chicago &
8t. Paul.)
&
Including Interest on C. C. C. & St. Louis bonds In 1890 and 1891.
-(V. 52, p. 42,81,351,499, TIT; V. 54, p. 524, T20.)
"
St. Louis Arkansas &. Texas.—See St. Louis Southwestern.
Cairo.— Owns Cairo to East St. Louis and branch, 161
St. Louis
miles. The former Cairo & St. Louis made default April 1, 1874, an*
&
.
NOVBMBEB,
Snbscrtbern
nrlll
confer a ureat favor br
Immediate notice of any error discovered in tlieae Tables.
Bond*— PrteS*
INTEREST OR DIVIDENDS.
Date Size, or
pal. When Dtw.
Amount
kIv^IiME
Miles
When
Outstanding Rate pel Payable Where Payable, and by
Cent.
Whom.
For explanation of column lieadingn, dec, see notes
of
of
Par
on tlrst page of tables.
Road. Bonds Value.
LouU Alton <t
Terre
Lines.
Leased
Belle.
& 80. 111.— 1st M. (int.guar.) s. f., not dr'n.o
A Carondelet, IstM., Belle. toE.Caron.o
& El Dorado— 1st (Infest giiaranteed)o*
56
16
Belleville
50
50
31
31
17
53
53
161
0*
2d niortgaRe
Louis Southern— Istmort., gold, Int. guar...o*
2d mortgage, income, non-cumulative
c*
8t.
Carbondale & SliawTieet'n IstM., g.,int. giiar.o'
Chic. 8t.L.& Paducali Ist M., g.,red at 105 guar.o'
2d mortgage, gold, income (non-cumulative). 0*
1st M., gold, int. guar. M. <St 0..0
.Mt. Louis <* Cairo
—
Lou. Cape Oirard'u <£ Ft. Smith— Old ilv. bonds
gold
Cape Girardeau 8.W. consol. mortgage
Arkansas Extension 1st mortgage, gold... c*Ar
St. L. Cape Gir. & Ft. S. gen. M. ($7,500,0001 gold.
St. Louis Chieayott St. Paul.— iHt m.,$l,'J50,0()0 g.,c
St.L. Collinsv. a Carondelel— lit M., $1,500,000, g.c
8i. Louis Kennett rf Sonthern.^lHt mort., gold...o*
1st mort. .0
St. Louis Merchants' Bridge Terminal.
Merch. Bridge 1st M.,red.afterFel).l, 1909, at HO
St. L. <e San Fran.—Hee Atchison T. <» 8. Fe system.
St. Louis Southtce-s'ern — Common stools
—
162
65
167
87
"21
Preferred stock (5 per cent non-cumulative)
1st mort. certilleates, $16,500 p. m., gold
c* 1,222
2d M. Income cert., $10,000,000,non-cum., gold.c* 1,222
Car trusts .luly 1, 1892
Si. Louis Van. tt Terre H. — IstM., guar. s.f. not dr. 0*
2d mort., .link, fund, not dr'n ($1,600,000 guar.) .c*
St. Paul rf Duiuth— Common stock
Pref 7 per cent stock and scrip subj. to call at par
1st mortgage
c*
2d mortgage
c*
1866 $1,000
1883
1,000
1880
1,000
1880
1,000
1886
1,000
1886
1,000
1887
1,000
1887
1,000
1887
1.000
1886 500 &c,
1880-5
St.
i58
158
.
167
167
1,000
1888
1,000
1890
1,000
1891
1,000
1892
1,000
1891
1,000
1891
1,000
1890 500 &0.
1889
1,000
100
100
1890
1,000
1890 500 &0.
1891 various
1867
1,000
1868
1,000
100
100
1881
1,000
1887
1,000
was sold
in foreclosure July, 1881. Stock is $6,500,000. In January,
1886. a lease was negotiated till January 1, 1931, to the Mobile & Olilo
KK. on the basis of a rental of 25 per cent of 150-640ths of tlie gross
revenue of the whole line. Mobile to St. Louis, this reutal being guaranteed by the lessee to amount to $165,000 per year. In year ending June
30, 1891, gross, $806,679; net, $177,424 (against $159,939 In 1889-90);
rental to St. Louis & Cairo, $191,914. Rentals In 1891-92. $185,790.
Cape Olrardcau
Oc
Fort Smith.— C.$ee Map.)— Owns
from Cape Girardeau, Mo., to Hunter, Mo., 94 miles
leases branch to
Zalma, 9 aiiles total operatetl, 103 miles. Successor to the CJape Girardeau Southwestern; name changed in May, 1891. The road is to be
extended 45 miles from Hunter to Monmouth Springs on Arkausas State
Line. An extension is also projected to Fort Smith, Ark. Stock authorized, $2,000,000; outstanding, $1,150,000; par, $100.
Of the
general mortgage for $7,500,000, $1,325,(KH) is reserved to retire the
underlying issues at maturity. Balauco to be issued for construction
of new road at not over $15,000 per mile, and for Improvements upon
the present line at not over $3,000 per mile. There are also outetanding $150,000 7 per cent incomes and $7,311 car trusts. In 1891
fross earnings. $174,612; net, $80,847. In 1890 gross, $165,807; net,
85,677; President, Louis Houck, Cape Girardeau, Mo. (V. 54, p.441.)
St. I.011IS Cliicago
St. Paul.— Road Owns from Bates, 111.
to Alton, 111., 87 miles; uses Wabash tracks to SpringHeld, 13 miles
It is proposed to have the road completed from Bates to SpringHeld, and
from Alton to East St. Louis, making 120 miles in all, by Dec. 1, 1892.
6ncces8or to the St. Louis Alton & Springfield, sold in foreclosure July
9, 1892. Stock authorized and outstanding, .$2,000,000~par $100.
Bonds— The new mortgage (trustee Atlantic Trust Co.) provides for
building the above-mentioned extensions, and covers all the road, its
equipment and terminals. Earnings— In year 1889-90 gross earnings
were $115,712; net, $8,184. (V. 54, p. 204, 924; V. 55, p. 100.) Post,
Martin A Co., 45 Wall Street, N. Y. Fiscal Agent.
St. Iionis Collinsville dc Carondelet.— This company it Is
said will construct a double- track belt road from the Merchants' Buildng to East Carondelet. Mortgage trustee, N. Y. Security A Trust Co
;
;
—
&
St. Ijonis
Iron mountain & Soutliern.—See Missouri Pacific.
Ijonis merchants' Bridge Terminal.-This company
has under construction a double-track railroad in the city of
St. Louis, extending from near the Union Depot on 12th Street, via Main
Street, Hall Street, Ac to Ferry Street opposite the Merchants" Bridge
etc. It leases the Merchants' Bridge, agi'celng to pay the interest on the
Bridge Co's $2,000,000 l)onds; it owns and controls the Electric City A
nUnois RR. connecting the town of Madison and East St. Louis; and
leases the Venice & Carondelet Belt RR., which fomis an outside belt
around East St. Louis. Extensive yards and terminal facilities will be
maintained in St. Louis and East St. Louis. The mortgage is for $3,500,000 to the St. Louis Trust Company, and covers all tlie property of
the company. Stock authorized, $3,500,000 outstanding, $
(I)
par, $100. General otlice, St. Louis, Mo. C. C. Rainwater, President.
St.
,
;
St. lionis
;
& Man Franelsco.—See Atchison Topeka ASanta Fe.
St. liOulM Sontlifvestern.- Road extends from Bird's Point, Mo.,
opposite Cairo, 111., to Texarkana, Tex., 418 miles, and thence by
the Texas road to Gatesvllle, 305 miles; total, main line, 723 miles;
branches, Mt. Pleasant to Sherman, 110 miles Tyler to Lufkln (narrow,
fauge), 87 miles Corsicana to Hiilsboro, Tex., 40 miles; Commerce to
ort Worth, 97 miles; Lewlsville, Ark., to Shrcveport, La., 60 miles;
Altlieimer to Little Bock, Ark., 42 miles; Maiden, Mo., to Delta, 51
miles other branches, 12 miles total, July, 1892, 1,222 miles.
Organization. Successor to the St. Louis Arkansas A Texas, whose
road was sold in foreclosure in October, 1890, the same property having
been previously foreclosed in 1885-86 See plan of reorganization in
Chronicle, V. 50, pp. 141 and 561.
The organization consists of three ocrr- rations.— the St. Louis Southwestern Railway Co., the St. Louis Soutcrestem Railway Co. of Texas
and the Tyler Southeastern.
BoNiw.— The first mortgage certificates are issued against a like
amount of first mortgage oouds secured upon these lines at a rate not
exceeding $1(>,500 per mile, and the second mortgage certificates
against second mortgage bonds at $8,250 per mile.
Tlie new incomes will receive ft*om January 1, 1891, such interest,
payable semi-annually, not exceeding 4 per cent per annum, as can be
paid out of net earnmgs of the railways during the preceding fiscal
year, after payment of operating expenses, repairs, renewals, replacements, taxes. Insurance and interest on prior liens. Tlie issue of these
oerUflcates may be increased up to $10,000,000, subject to restrictions
in the mortgages as to their issue and application of the proceeds. Bills
payable were $270,261 July 1, 1892.
State RR. Com.mi88Ion.— In August, 1892, the U. S. Circuit Court
granted an injunction to prevent the Texas State RR. Commission
from any longer enforcing its very low tariff for freight established
about Sept. 1, 1891. (See V. 55, p. 314, 332.)
Eabninos.— From July 1 to Nov. 7, 1892 (4H months), gross earnings
were $1 ,79 1 ,3 1 1 against $1 ,8 1 4,668.
Annual Rri'ort.— Fiscal year ends June 30. Annual meeting Is held
at Texarkana, Texas, on the Monday preceding first Wednesday in May.
Beport for 1891-92 was in V. 55, p. 587, showing earnings a* follows,
;
;
;
;
—
,
8loekt—haM%
Dividend.
Hante— (Concluded.) —
BelleviUe
St. I.onls
133
BONDS.
'
RAILROADS.
4U.
AND
fiAILKOAD STOCKS
1893. J
$1,015,000
485,000
220,000
330,000
550,000
525,000
250,000
1,000,000
1,000,000
4,000,000
111,000
889,000
175,000
2,500,000
750,000
A O.
& D.
&. J.
A A
8
6
7
«
N.Y., State Tnirt Co.
do
do
do
do
(11
180,000
(?)
2,000,000
6
8.
8.
J.
J.
8.
J.
1,
1,
1,
1,
1,
Sept. 1,
Mcb. 1,
Sept. 1,
Sept. 1,
Jan. 1,
July
Pd.ln '91 conn. Feb.,'80 Aug.
N. y.. State Trust Co,
Sept.
,
do
do
do
A
&
&
&
A
&
A
A
A
Oct.
June
do
do
do
1896
1923
1910
1920
1931
1931
1933
1917
1917
1931
None yet paid
N. Y., Farm. L. A Tr. Co.
N. Y., Coffin A Stanton Sep. 1900- 1-2-5
do
do
Sept. 1, 1908
do
do
Jan., 1910
do
do
July
N. Y. Atlantic Trt. Co. Sept.
New York Agency.
July
A. N.Y..Ccut.Tr.& St. Louis
O. N.Y.,F'rsL.&Tr.&8t.L.
*Tr. Co.
Feb.
Oct
A. N. Y., Farm. L.
Feb.
16,509,000
20,000,000
20,000,000
Central Trust Co.
4^' M. & N. N. Y., '90.
8,000,000
when earned.
J. A J. After
521,688
various N. Y., Central Trust Co.
1,899,000
7
J. A J. N. Y., Central Trust Co.
2,600,00e
7
M. A N.
do
do
4,660,207 See text.
N. Y., Of., 32 Nassau St.
4,962,210 See text. M. <Se S.
do
do
1,000,000
5
F. A A.
do
do
2,000,000
A. & O.!
do
5
do
1,
1,
1,
1,
1,
1,
1919
1913
1931
1921
1930
1929
Nov. 1. 1989
Nov. 1, 1989
1892 to 1898
Jan. 1, 1897
May 1, 1898
July 5, 1887
Sept. 1, 1893
Aug. 1, 1931
,
Oct.
1.
1917
the road having been in the hands of the receiver until May 20, 1891.
In the operating expenses are included In 1890-91 $1,089,160 for betterments, against $129,267 in 1891-92.
1890-91.
1891-92.
Gross earnings
$4,323,656
$4,636,461
Operating expenses
4,849,654
Total net,
incl.
3,824,294
def.$52o,998
Net earnings
$812,167
$937,268
107,326
800,000
10,248
other income
Taxes
Intereston bonds
Rentals, etc
Balance, surplus
$19,694
—(V. 54,
p. 34, 846; V. 55, p. 463. 587.
St. Iionlii Vandalia
Terre Hante.— C5e« Map Pittsburg Oincinnatl Chicago <t St. Louis.)— OwuB from East St. Louis to Indiana
State line, 158 miles.
&
Organization, Lease, Etc.— Road opened July 1, 1870. Leased to the
Terre Haute & Indianap. BB. (for account of Itself and the Pitts. Cincinnati Chicago A -St. Louis RR.) at a rental of 30 per cent of gross earnings. In 1889-90 it was agreed that In future the profits and losses
from operating this road should be divided between the lessees in the
proportion of five-sevenths to the Pittsburg Cin. Chic. A St. Louis and
two sevenths to the Terre Haute A Indianapolis. The U. S. Supreme
Courtin May, 1892, declared the lease under which the road Is operated to be binding. V. 54, p. 846.
Capital Stock.—Stock, $2,379,358 common and $1,544,700 of 7
per cent cumulative pref.
par $100. The Terre Haute A Indianapolis owns $326,000 preferred and $500,(X>0 common stock, and the
Pennsylvania RR. $837,000 preferred and $225,000 2d mort. unguaranteed 7s, and the Pennsylvania Company, July 1. 1891, $1,350,000
and $381,700 preferred. In October. 1891, the back dividends on the
preferred were paid for 1879 and 1880.
Bonds and Guaranty.— The first mortgage and $1,600,000 of second mortgage bonds are guaranteed as to principal and interest by
the lessees, and also by the Pittsburg Cincinnati * St. Louis (now the
Pittsburg Cincinnati Chicago & St. Louie RR.), and are so endorsed.
Earnings.— In year ending Oct. 31, 1891, gross $1,808,309; rental
to St L. V. &T. H., $542,492, and int. on bills receivable, $14,052;
total income, $556.545 less charges, $365,629, leaving surplus, $190,916; paid div. for 1880 on pref. stock (7 per cent),.$693,267: balance deficit of year $502,352.
General surplus Oct. 31, 1890, $1,078,025. and
Oct, 1891, $573,673. In 1887-8 profit to lessee was $11,983; In '88-9,
$56,987; in 1889-90 profit $100,466. (V. 54, p. 286.)
Dulntli.— Owns from St. Paul, Minn., to Duluth, Minn
St. Paul
155 miles; brivnches to Cloquet, Grantsburg and Sandstone, 28 miles;
leases— Stillwater & St. Paul Railroad, 13 miles Minneapolis A Duluth
Railroad, 13 miles Taylor's Falls & Lake Superior, 20 miles ; Duluth
Short Line, Thompson to Duluth, 18 miles ; other, 3 miles ; total, 248
miles. Second track, 17 miles, July 1, 1892. Between North Pacific
Junction A Duluth, 24 miles, road Is owned Jointly with the Nor. Pacific.
History.— The Lake Superior & Mississippi Railroad was sold In foreclosure May 1, 1877, and this company organized June 27.
Capital Stock.— From the earnings of tlie railroad the preferred
stock has a prior right to 7 per cent yearly, then common to 6 per
cent, any surplus goin^ to retirement of preferred. The preferred
stock is also received in payment for lands at par, and is entitled to
receive from land sales any part of its 7 per cent dividend yearly for
which railroad earnings do not sulflce. All surplus land sales not
used for dividends on tlie preferred stock go to the retirement of that
stock at or below par, the preferred stock being suliject to call at par
when drawn by lot. If not purchasable below par in the open market
In Decemlior, 1891. $182,000 prefen-ed was purchased and retired
from land sales, and in Scpeniber, 1892, $226,600 was drawn by lot
and redeemed at par. Three shares of common stock have one vote,
and each share of preferred has one vote.
Dividends. On common stock: In 1887, 3 and 15 In common stoolc
In 1888 and since, nil. Dividends on preferred since 1880
In 1881, 10
stock ; In 1882, 3>i]in cash; In 1883, 7: In 1884, 3^ and 7 in preferred
stock; from 1885 to 1888,7; in 1889, 5>s; Jan., 1890, 2>s; Sept, 4:
In 1891, March, 2H; Sept, i^; In 1892, March, 319; Sept, 313.
Lands.—The company has a land grant, of which 1,104,144 acres remained unsold June 30, 1892, and 61,455 acres of the Taylor's Falls
branch grant. In year 1891-92 sales from company's grant were
5,670 acres for $30,894, and gross cash receipts were $149,290 (of
which $95,645 from stumpage): net cash receipts, $128,756.
Earnings.— From July 1, 1892, to Sept. 30, 1892 (3 months), gross
$625,374, against $492,231 in 1891; net. $280,531, against $174,136.
Annual Report.— Fiscal year ends June 30. Annual meeting at St.
Paul second Thursday in October. Report for 1891-92 in V. 55, p. 677.
1889-90.
1890-91.
1891-92.
Orosseamlngs
$1,410,527 $1,621,939 $1,934,510
Operating expenses and taxes.... 1,017,458
1,071,192
1,291,586
;
;
&
;
;
—
:
Net earnings
Total netincome
,
$393,069
$415,566
$550,747
$575,893
$642,934
$678,987
v
,
SUPPLEMENT.
INVESTOKS'
126
—
1
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Aransas Pass Railway
AXD CONNECTIONS.
138
—
;
:
INYESTOES' SUPPLEMENT.
[Vol. LV.
Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables.
RAILROADS.
Paul
St.
(t
i&c.,
see notes
Par
Amount
Rate per When Where Payable, and by
Road. Bonds Value. Outstanding Cent.
Payal)le
Whom
f.
St.PaiUdl?fo.Paciflc—atock(^lO,000,000)a,fithoTiz'a
Western ER. Mum. IstM. RR. covered by gen. M.
General mortg., guar., land gr. ($10,000,000). o*&r
JBan Ant. rf Aransas Pass Stock
c"
1st Mortgage, gold, redeemable at 110
let M., exten., gold ($12,000 p. m.) red. at 110. o*
l8t M. for $9,000,000, gold, $15,000 per mile. .0*
2dM., g., income for 5 years, $8,000 perniUe
Rolling stock lease warrants
Sandusky rf- Columbus Short Line, See Columbus
Sandusky Mansfield dt i\rcwarfc— Re-organlzed stock
184
int.
gu.underleasebyB.&0.andCent.O..
—
182
1877
1883
1885
1886
1888
1888
1,000
1,000
1,000
1,000
100
.0*
116
116
1,000
100
1889
1892
165
1,000
1,000
265
35
1889
1890
1892
347
100
1867 500 &c.
1869
1,000
1869
1,000
Savannah Florida
it TTeg*.— Stock
Atlantic & Gulf consol. mortgage
c'
So. Ga. & Flor., 1st Ms., endby State of 6eorgia.o*
c
1889-90.
58
58
1890-91.
$82,003
$93,548
150,000
150,000
(2>«) 134,117 (6i«)348,749
26,912
31,900
Total payments
$393,032
$624,197
Bal-from RR. operations
8ur.$22,534 def.$48,304
Sects, from stumpage and lands.
192,848
249,546
1,000
1,000
1,000
miles.
to Staples Mills, 34 miles; total,
aeres, and owns in all
Bome 400 acres aboutSt. Paul and Minneapolis. The land grant (181,671
acres unsold August 1, 1892,) is between Bralnerd and Sauk Rapids; proceeds of lands are first applied to purchase of Western Minneapolis
bonds, then to general mortgage at 120 or under.
Lease-Propert v.— Leased for 999 years to the Northern Pacific, at a
net rental equal to 40 per cent of the gross receipts, but any surplus
over 6 per cent on stock is divided equally between lessor and lessee.
Bonds. The bonds are guaranteed by Northern Pacific. Interest on
coupon bonds Is payable F. <& A.; on registered bonds, Q. F.
Stock.- The stock of $6,250,000 is all owned by Northern Pacific.
Dividends from 1883 to Aug,, 1892, inclusive, 6 per cent per annum, and
tn 1891 by division of surplus 6 per cent extra. Earnings.— In year
ending June 30, 1892, gross, $2,266,416. agst. $2,110,926 in 1890-91;
net, $1,070,936, against $1,024,058 In 1890-91 and $901,926 in 1889-90.
—
San Antonio dc Aransas Pass.— C5ee Jfa»;—Owns from Kerrvllle
to Aransas Bay, Texas, 221 miles Kenedy to Houston, 176 miles
Yoakum to Waco, 165 mUes Skldmore to Alice, 43 mUes Shiner to
;
;
;
Lockbart, 55 mUes; branches, 22 miles; total, 682 miles.
History.-The receivers appointed July 14, 1890, were discharged
In June, 1892, and the road restored to the company. Reorganization
Committee agreed to deposit $750,000 to pay ac^udlcated claims subject to order of court. It is said the Southern Pacific has been making
overtures for the property.
Reorganization.— The plan of March, 1891 (V. 52, p. 464) pro vides
for new securities, covering all the property. The cash reqmrements
are larger than the plan provided for and the security holders will be
asked to subscribe to new bonds to meet the expenses incurred. It was
expected that the following securities would be issued in the fall of
1892. V. 54, p. 1011.
1. First mortgage five per cent fifty-year gold bonds of
$1,000 each, carrying interest from July 1st, 1891
Issue limited to
$16,800,000-.$21,000 p. m
Reserved for extension to Llano and
Austin and for rolling stock
2,100,000
Present Issue for the purposes of this reorganization. . . $14,700,000
Z. Five per cent non-cmnulative preferred stock
$5,250,000
3. Common stock, par value $100 per share
$5,250,000
Assenting security holders will receive (1) for old first mortgage 6 per
cent bonds, with July, 1890, and subsequent coupons attached, new
first mortgage 5 per cent gold bonds, $1,000 new 5 per cent preferred
stock, $150, and new common stock, $150. (2) For each old first mortgage 5 per cent bond, October, 1890, and all subsequent coupons
attached, new first mortgage 5 per cent bonds, $850 new preferred
fitock, $120; new common stock, $120. (3) For each old $1,000 second
mortgage bonds, all coupons attached, new first mortgage 5 per cent
bonds, $225; new 5 per cent preferred stock, $250; new common
«tock, $250. (4) For each share of old stock (held by public) $100 in
,
.
;
;
new
stock.
old firsts may subscribe to a cash fiind created
•to liquidate cash requirements for $850 of said fund, for which he will
receive $1,000 new firsts, $350 new jireferred and $350 new common.
The stock of the reorganized company is to be transferred to voting
-trustees in exchange for beneficiary certificates, the committee being
named as trustees for three years from July 1, 1891. There have been
Issued $365,000 of Receiver's certificates, ofwhich $300,000 issued for
Waco Extension are held by reorganization committee.
State Railroad Commission.- In the Chronicle of Aug. 27, 1892
<V. 55, p. 314 and 332) was glvfu the decision of the U. S. Circuit Court,
granting an injunction against the enforcement of the extremely low
tariff for freight prescribed by the Texas State RR. Commission.
Earnings.— From Jan. 1 to June 30, 1892, gross earnings were $639,196, against .$722,276 in 1891.
From January 1 to August. 31, 1891 (8 months), gross earnings were $1,066,872, against $1,001,693 in 1890; net, $112,
909, against $140,532.
A report of the receivers for the year
ending on July 14, 1891, was In V. 53, p. 608, showing gross earnings
*1,740,945; net, $319,065. (V. 52, p. 204, 464, 499, 574, 899; V. 53.
p. 96, 608, 641, 846, 965, 1011 V. 55, p. 422.)
Each holder of $2,(X)0
;
Sandusky & Golnmbns Short
KIE & HOCKINO.
I.lne.
—
N. Y. Office, 32 Nassau, Jan. 1, 1914
do
do
D.
Sept. 1,
Dec.
1,
1916
1900
Q.-P. N.Y., Office, 35 Wall St. Nov.. 1892
M. & N.
do
do
May 1, 1907
6g. See rem.
do
do
Feb. 1, 1923
J.
J.
5
A.
A.
g.
5g.
"&"j. Jan.,
1890, coup.l ast pd.
& J. Jan., 1890, coup, lastpd.
& O. Apr., 1890, coup.last pd.
&
Oct.
Oct.
1,
1,
1,
1,
1916
1926
1938
1913
Moss N. Bk., Sand'ky, O. Feb.
Union Trust Co. Jan.
1,
1,
1892
1909
N.Y.,46Wall,& Fr'nk'frt Jan.
N. Y., Mercantile Tr. Co Sept
1,
1,
1919
1942
&
1906
1919
1920
1932
1892
1897
1899
1899
None
O.
paid.
Jan.
July
N. Y., Atlantic Tr. Co.
J.
&
J.
7
5
1,614,200
250,000
3,350,000
420,000
208,000
6,403,400
1,780,000
464,000
200,000
Feb. 1
31a
&"j
M.
g-
"7'
J.
J.
J.
6g.
6
g.
M.
V7
J.
7
M.
M.
7
&
&
&
&
&
&
&
&
J. N. Y.,
S.
J. N.Y.,Nat.P'kB'k&Amer
J. Bait. Merc. Tr.
Amer.
J. Balt.Merc.Tr. &Dep.Co.
1905
July
July
S.
do
do
Mch.
N. Y. H. B. Plant.
Apr.
J. N.Y.,H.B.Plant,&Savan July
N.
do
do
May
N. N.Y.,H.B.Plant &Savan May
&
San Francisco
1,
1,
1,
1,
1,
1,
1,
;
Sc
Great Salt Ijake.—This
from San Francisco
to Salt
Lake
CoLirMBUg Shaw-
City,
Is
260 miles.
the proposed
new
Stock was being
subscribed for in August, 1892.
San Francisco tc North Pacific-Point Tlburon, Cal., to UMah,
Cal., 106 miles, and branches, 59 miles; total 165 miles. Consolidation
of various companies March 19, 1889. Connects with San Francisco
(6 miles) by company's steamer. Bonds issued at $25,000 per mile;
trustee. Mercantile Trust Company, New York; sinking fund, $25,000
per annum, and bonds drawn (or purchased) at 110 and interest.
[See abstract of the mortgage in V. 49, p. 241.]
Earnings.— From July 1 to Oct. 31, 1892 (4 mouths), gross earnings
were $364,741, against $373,919 in 1891; net. $167,656, against
$181,635; interest, rentals, etc., $68,338, against $68,799; balance,
surplus. $99,319, against $112,836 in 1891.
Year ended June 30, 1892, gross earnings $886,472 against $832,648
In 1890-91 net, $311,422, against $288,185
surplus over charges, including $25,000 to sinking fiind each year, $81,008, against $56,511.
J.F. Burgln, President, San Francisco. (V. 53, p. 186; V. 55, p. 214.)
;
;
Santa Fe Prescott &. Phoenix.— Projected and under construcAsh Fork on the Atlantic & Pacific Railroad, via Prescott to
Phoenix, Arizona, about 200 miles. Mortgage is for $5,000.000
Mercantile Trust Co., New York, trustee. A 30-year contract with the
Atchison Topeka & Santa Fe provides for payment of an arbitrary 5
per cent of the gross earnings of the entire Santa Fe system of railroads
upon all business interchanged with S. F. P. & P. Ry. to the trustee of
the first mortgage bonds, to be applied to the payment of interest
tion from
accruing.
(V. 55, p. 590).
—
Montgomery.—^iSe« Map.) Owns
Sc
from Lyons, Ga., west to Montgomery, Ala., 265 miles, and A. F. <St N.
Railroad from Cordele to Albany, Ga., 35 miles; total operated 300
miles. An extension from Omaha to Montgomery, Ala., 80 miles, was
opened in April, 1892. See V. 54, p. 684. Under a traffic contract with
Central Railroad of Georgia, which operatei the Savannah & Western,
throueh passenger and freight trains are run via the Central, the S. &
W. and this line between Savannah and Montgomery, Ala.
History.- This was formerly the Amerlcus Preston & Lumpkin.
Bonds.— The consolidated mortgage is for $4,100,000 (Mercantile
Trust Company of Baltimore, trustee), and is a first lien except on 38
miles, upon which there are outstanding $250,000 old first mortgage
bonds, to retire which a like amount of consols is deposited in trust.
Car trusts and notes July, 1892, $541,455 (including interest), due
yearly 1892 to 1898, payable in monthly instalments. The consol.
bonds are listed on N. Y. and Baltimore Stock Exchanges. See V. 54,
The entire stock of the Montgomery Terminal Co. ($200,000),
p. 120.
IS owned, and its bonds, as well as those of the Albany Florida &
Northern, at $12,000 per mile, are guaranteed, principal and interest,
by endorsement on the bonds.
Earnings.— From July 1, 1892. to Sept. 30, 1892 (3 months), gross
earnings were $142,138, again,st $125,184 in 1891; net, $55,682, against
$49,263. In year 1891-92 gross, $500,823; net, $189,760; interest on
bonds. $136,800. In 1890-91 earnings on 175 miles, $491,499; net,
Savannah Amerlcus
$209,203. (V. 52, p. 322, 535, 796; V. 53, p. 257, 754; V. 54, p. 120,
276, 684, 1048.)
Savannah Florida
&:
TVestern.— Owns from Savannah,
Ga., to
Chattahoochee, Fla.. 258 miles; 3 branches to Bainbrldge, Ac, 15 miles.
Dupont to Gainesville, 118 miles; Thomasville to Albany, 58 miles'
Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to Jacksonville,
75 miles; Fort White, to Lake City, Fla., 20 miles; total, 569 miles.
History.— A consolidation in 1884. In January, 1888, purchased
control of the Brunswick & Western, Brunswick to Albany, 171 miles,
and guaranteed its first mortgage bonds. In 1890 a controlling interest in the Alabama Midland was acquired by the Plant Investment
Co., which controls this system. See Alabama Midland; also, V. 51,
p. 50. The Metropolitan Trust Co., of New York, is trustee of the mortgages.
Dividends.- In 1881, 9ia per cent;
4; in
1887, 1%; In 1889, 4; in 1891, 2
in 1882, 6I9; in 1883, 7; In
in 1892, April. 5.
1884
;
Earnings.— From January 1 to May 31, 1892 (5 months), gross
earnings were $1,373,143, against $1,500,799 in 1891; net, $484,922,
against $551,434.
In 1891 gross earnings, $3,288,862; net, $1,111,153; in 1890
surplus after charges, $104,802.
gross, $3,038,473; net, $645,936
Total surplus January 1, 1891, $140,217; deduct dividend (2 per cent),
$131,946; balance, $8,271. (V. 62, p. 761; V. 54, p. 441.)
;
^See
do
do
7
;
p.
Owns terminals in Minneapolis on 20
—
J.
8.
Dividend.
Sandusky Mansfield 9c Nevrark.—Owns from Sandusky, O., to
$96,497 Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti150,000 more & Ohio, Feb. 23, 1880, till Dec. 1, 1926, with option to the Bait. &
Ohio Co. to renew for terms of 20 years each. It is operated as Lake
(8) 423,001
69,394 Erie division of the Baltimore & Ohio system. Rental is $201,850.
The Baltimore & Ohio's guarantee of interest is endorsed on the bonds.
$738,892 Dividends.— From 1881 to 1884, 2 per cent; from 1885 to 1888, 3 per
det.$59,906 cent; from 1889 to 1892, inclusive, 313 p. c, payable annually Feb. 1.
75,207 Floating Debt July 1, 1891, $148,186. Earnings.— In 1889-90 gross,
$1,211,170: net, $271,397; profit to lessee, $47,162. In 1890-91,
sur.$15,301 gross, $1,106,818 net, 255,359 profit to lessee, $33,711.
Paul Minneapolis Sc Manitoba.—See Great Northern.
Paul tc Northern Pacific.—Line of Road—Bralnerd to
St.
Paul, 148 miles; Little Falls
182
M.
S(ocfc«— Last
per an.
1,068.832
2,300,000
6,000,000
4.166,000
line
fit.
J.
Bonds— Prinolpal,When Due.
1891-92.
Balance
8ur.$215,382 sur.$201,242
—(V. 51, p. 241, 275, 636; V. 53, p 157. 567; V. 54, p, 276; V. 55,
St.
;
&
&
&
J.
7
m
100
500
1885-6
Consol. mort. $4,100,000,Kold. $12,000 per ralle.c
Alb. Flor.&Nor. IstM., gold, $12,000 p. m.,guar.c'
Montgomery Terminal Co. 1st mort., gold, guar.o
'
50
1869
6
5
(?)
Shaw NEE & HOCKIN
Savannah A mericus t£ Montgomery — Stock
Amerlcus Preston & Lumpkin Ist mortgages
Rentals paid
Interest on bonds
Dividends
Miscellaneous
6,250,000
438,000
7,985,000
5,000,000
1,750,000
4,473,000
1,725,000
5,112,000
1,000
1,000
152
372
115
639
Bail Francisco <£• Northern Pacific. Stock
Ist Mort, gold ($4,500,000), s. f. red. at 110.*c4r
Santa Fe Pres.it: Phmtiix-l st M., $25,000 p.m.,g.c**r
2d mortgage
$210,000
500,000
248,500
100
6OI3
—
—
1884 $1,000
1886
1,000
1870 500 &c.
21
25
12
not dr.o*
DiUuth Short L. IstM, Kuar.,cum.,8.f. not dr'n.c*
Stillwater & St. Paul Ist mort., g. {not guar)
£i. Paul Minn. <£ Manitoba —See Great Northern—
.
INTEREST OR DIVIDENDS.
Size, or
of
of
DHluth^(Concluded.)—
Taylor's Falls & Lake Sup., Ist M. gu., s.
IstM.
Date
Miles
For explanation of column headingB,
on first page of tables.
NOTEMBEB,
1893. J
EAILROAIJ STOCKS
AUD BONDS.
139
:
;
LNTESTOES' SUPPLEMENT.
ISO
[Vol. LV.
Snbscrlbers will confer a great favor by sivlna; Inimedlate notice of any error discovered In these Tables.
&c., see notes
Amount
Par
Rate per Wlien Wliere Payable, and by
Road. Bonds Value. Outstanding Cent.
Payable
Whom.
of
of
Savannah Florida
<£ Western, -(Concluded).
Sav.Fla. & Wcst.,consol.M. ( 6,500,000) ,gold.c*&r
Montieello extension bonds
Brunswick & Western Ist M., gold, guar
o*
Income bonds, non-cumulative
Savannah tC Western—Colmnh. & West.lst M.,gu.o*
Columbus
& Rome
1st mortgaRe
guar
o*
l8t coDsol. mort. ($18,000 permile), gold, guar.o*
Rome & CarroUton 1 st mortgage, gold
c*
Cliatt. Rome & Col. 1st, gu., $16,000 p.m., gold.
Sclmytkill <eic/iioA— lstm.,guar. p. &i. by P. & R.
Seaboard <t ltoanoke—St'}i ($244,200 is pf. gu. 7 p.c.)
r
Debentures, registered
c*
1st mortgage for $2,500,000
Seaboard Air Line Equ't Tr. ser.A&B (see text). c*
Lake S. dS East.— 1st M., g., $25,000 p. m.c*
c*<fer
ShamoKm Sunhury dt Lewisbnrg — 1st mort
2d mortgage
545
171
157
50
22
138
44
81
81
Seattle
Shamokin
C
Poltsville—8too)i, guar,
let mortgage, gold, on road and lands
Yal.
<t
by Nor.
C.
c
( ( on/i.;— St'li, 7>fl p.c.rent.N.Y.N.H.&H.
1st mortgage
Silver Sp. Ocala it Oiti/— lst,l. gr. ($15,000 p.m.)g.c*
Sioux City d Northern Ist mortgage, gold.
o*
Sioxix City O'N. dt West.— 1st M. ($18,000 p. m.) g.c*
South Bound Ist mort., $15,000 per mile, gold, .c*
South Carolina Ist mortgage, sterling loan
1st consol. mortgage, gold
2d consol. mortgage
c*
Income mortgage bonds (not cumulative)
c*
South Flo>-ida^lstmoTt. ($12,000 permile), gold.c*
So. itNo. AJoftamo— lstM.,8.f.not dr'n; guar.byL.&N.
2d mort. gold, s. f. $20,000 (owned liy L. & N.)...
Shore Line
—
—
Savannah
—
8c
31
31
29
28
49
49
74
96
130
136
247
247
247
247
189
189
189
Western.—Owns from Birmingham,
J.
;
6
& New England.—See Norfolk & Western.
Roanoke,-Owns Portsmouth, Va., to Weldon and
branch, N. C, 81 miles leases Roanoke & T. K. Railroad, 29 miles.
Also has a controlling interest in the Raleigh & Gaston Railroad, 109
Scioto Valley
Sc
;
miles, and thus in the Raleigh & Augusta Air Liue, 107 miles, and Carolina Central, 269 miles; also controls Pittsboro Railroad, 11 miles;
Carthage Railroad, 11 miles; and the Georgia Carolina & Northern,
266 mUes (completed in April, 1892), affording a through liue to Atlanta; total of all, 884 m. Tills is the " Seaboard Air Lino " (Company.
Stock.— Of the stock, $1,058,700 is common, $200,000 is 1st preferred
7 per cent guaranteed and $44,200 is 2d preferred guaranteed.
Dividends.— On common, formerly 10 per cent, have been from
Nov., 1890, to May, 1892, both inclusive, 7 p. ot. per an. (3^2 semi-an)
in Nov., 1892, 3 per cent.
Bonds. The debentures are to be included in any 2d mortgage issued.
After Aug. 1,1916, they are payable at wiU as a whole, or in 10 per cent
Instalments. Car trust September, 1891, 5 per cents, due in 1900 and
1901, $250,000. With Raleigh & Gaston guarantees the bonds of the
Georgia Carolina & Northern (whicli sec), and to etjLiiip that road has
leased Jointly with tlio R. cfe G. the property of the Seaboard Air Line
equipment trust, whose bonds are given in the table above. Interest
being payable on them by the lessees as rental under the lease. Fir.st
mortgage bonds for .$500,000 were issued in 1891-92.
Earnings. In year ending June 30, 1892, gross on road proper, 114
miles, $705,469; net, $233,763; other income, $84,890; total net income,
$318,653; interest, rentals, taxes, &c., $164,268; dividends (7 per
cent), $94,203; surplus for year, $60,182; In 1890-91, gross, $771,572.
J. M. Robinson, President, Baltimore, Md. (V. 51, p. 344; V. 52, p. 350,
427; V. 53, p. 324.)
Seattle I<alce Shore
Eastern.— Owns from Seattle, Wash., to
—
—
&
& J.
& J.
do
do
Jan., 1914
& 8. McU., '92, coup, last pd. McU. 1, 1929
J. & J. N. Y., Security & Tr. Co. Jan. 1, 1916
M. & S. Mcli.,'92, coup, last pd. Sept. 1, 1937
M. & N. Pliila.,Pliil. ARead.RR. Nov. 1, 1902
M. & N. Bait, Farm.& Plant.Bk. Nov. 1, 1892
F. & A.
Portsmouth, Va.
Aft. July,1916
J. & J. N.Y.,Baltlmore&Phila. July 1, 1926
J. & D. Balt.,Merc.Tr.& Dep.Co $50,000 Junel
F. & A. N. Y., No. Pacific RB.
Aug. 1, 1931
M. & N. PhUa., Phil. & Read.RR. May 1, 1912
J. & J.
do
do
July 1, 1925
F. & A. PhUa., Penn. RR. Co.
Aug. 1, 1892
do
J. & J,
do
July 1, 1901
J. & J. N. H., Nat. N. H. Bank.
July, 1892
M. & 8.
do
do
March, 1910
J. & J. New York, 187 Fulton July 1, 1918
J. & J. N.Y., Manhattan Tr. Co, Jan. 1, 1920
A. & O.
New York.
Oct. 1, 1921
A. & O. Baltimore & Savannah, Apr. 1, 1941
J. & J.
London.
On demand.
A. & O. Coupon Apr.,1891,paid. Oct. 1, 1920
J. & J.
Last paid July, 1888.
Jan. 1, 1931
Yearly.
Jan. 1, 1931
J. & J.
Jan. 1, 1915
M. & N. London, Baring Bros. May 1, 1903
A. & O, N. Y. Of.,120Broadw'y Apr. 1, 1910
M.
Stock autliorized, $10,000,000; outstanding, $1,440,000.
From January 1 to Sept. 30, 1892 (9 months), gross earnings were
8303,197, against $311,301 in 1891. In 1891 gross, $446,326; net,
$193,144. In 1890 gross, $310,046; net, $133,648. (V. 50, p. 276, 353;
V. 51, p. 416, 459.1
Sioux City O'Neill
Western.— Owns from Covington, opposite
Sioux City, to O'NeUl. Nebraska, 130 miles. The Pacific Short Line
(including in it the Nebraska & Western) was foreclosed Oct. 23, 1891,
and this company organized by iiartles interested in the Sioux City &
Northern, with stock of $3,600,000 (par $100) and bonds of $2,340,000.
The mortgage (trustee Manhattan Trust Co. of New York) covers the
road, its equipment and terminals aud $2,000,000 stock of the PaciHo
Short Lino Bridge Company, organized to construct a bridge at Sioux
City. (V. 52, p. 571; V. 53, p. 157, 326, 436, 641.)
South Bound.— Completed in Sept., 1891, from Savannah, Ga., to
Columbia, 8. C, 136 miles. Lease.— In July, 1892, leased to the Florida
Central & Peninsula Railroad Co. for 99 years from October 1, 1893,
by which time the Fla. Cent. & Pen. is to have completed a line of 110
miles in length connecting the systems. Annual rental is equivalent
to 5 per cent per annum on $15,000 per mile, payable semiannually.
See V. 55, p. 177, 215. While the Florida Central does not take possession uutU October 1, 1893, when the guaranty of interest goes into
effect at once. Stock is $2,033,000, all owned in September, 1802, by
the Savannah Construction Co. Bonds will have interest reduced to 5
per cent, and, whenever the South Bound so demands, will be endorsed
by the Florida Cent. & Pen. with the contract as to rental. Mortgage
trustee is Mercantile Trust & Deposit Co. of Baltimore. Earnings.
From Jan. 1 to July 31, 1892 (7 months), gross, $98,207. President,
Col. C. H. Phinizy, Augusta. (V. 53, p. 157; V. 55, p. 145, 177, 215, 503.)
South Carolina.—Owns from Charleston to Augusta, 8. C, 137
miles; branches to Columbia, 68 miles, aud to Camden, 38 miles; extension; 4 mUes; total main line and brandies, 247 miles. The CJarolina
Cumberland Gap & Chicago RaUroad, from Aiken to Edgefield, 24
miles, is leased by the receiver of tliis road, and operated in comiectiou
with it, maldng 271 mUes operated. The Columbia Newberry & Laurens
Is no longer operated in connection with this property.
Foreclosure and Reorganization.— Sold in foreclosure July 28,
At
1881, and on January 1, 1889, the company defaulted again.
Charleston, S. C, in June, 1892, the U. 8. Court ordered a foreclosure sale
of the road. Date of sale not yet fixed pending decision as to prior
liens. One plan of reorganization was given in V. 53, p. 969, and
another January 16, 1892, on p. VI. of advertisements. In October,
1889, D. H. Chamberlain was appointed receiver.
Bonds and Stock.— There are also .$178,000 old 5 per cent first
mortgage extended bonds, payable 1892, aud $8,000 7s, due 1907, in
addition to those above. On July 1, 1891, tlie Receiver paid to date
interest on all bonds having a lien prior to that of first consols and In
March, 1892, he paid the coupons due April 1, 1891, on the first consols.
The stock is $1,204,160; par, $100; car trusts, $74,434. due Dec, 1893.
Earnings.— From November 1, 1891, to Sept. 30, 1892 (11 montlis),
fross earnings were $1,231,799, against $1,489,571 in 1890-91; net,
326,964, against $497,211.
Annual REroRT. Report for year ending Oct. 31, 1891, was in V.
54, p. 32, as foUows
1890-91.
1889-90.
310
247
Mileage
$1,546,087
$1,771,159
Gross earnings
1,015,326
1,178,885
Operating expenses
standing.
&
—
—
Sumas, 125 miles, and branches in Washington, 121 miles; total, 246
miles. Completed in 1891. The Northern Pacific guarantees by endorsement both principal and Interest of the bonds. See V. 55, p. 682.
Shamokin Sunbury tc IjeYvIsbnrg.—Line from Shamokin to
Netearnings
We.st Milton, Pa., with iron bridge over Susquehanna, 31 miles. Leased
to Philadelphia & Reading till JTuly 20, 2883, and used for coal traffic Taxes and rentals
Stock, $2,000,000; par, $50.
(V. 51, p. 21.)
&
Silver Springs Ocala
Gulf.—Projected from Ocala, Fla., to
Point Pinellos on Tampa Bay, about 200 miles, and completed from
Ocala to Inverness, with branch from Gulf Junction (near Duuiiellon)
to Homosassa, 74 miles trackage, 4 miles sidings, 2 miles total
operated. 80 miles. Stock, $1,500,000, par $100. There is a land grant
of 13,840 acres per mils, of which the mortgage covers 4,000 acres per
mile. Thomas C. Hoge, President, 56 Wall 8t.
;
;
Sioux City Sc Northern.— CSee Map)— Owns road, completed in
February, 1890, from Sioux City northerly to Garretson, So. Dak., 96 miles.
is made with the Great Northern, with which
there is a traffic contract for thirty years. The road forms part of the
At Garretson connection
$530,761
$592,274
$115,426
969; V. 54, p. 3*, 120. 329, 968, 1011; V. 55, p. 60, 100.)
North Alabama.— r^ce Map of Louisville <t Nashville.)—
Soutli
Onwnsfrom Decatur, Ala., to Montgomery, Ala., and branch, 188 miles
Controlled by tlie Louis vUle & Nashville RR. Co., which on June 301892, owned $2,000,000 2d mortgage bonds, $404,000 consolidated
5s,&c., all tlie .$2,000,000 preferred and $1,153,400 of the $1,490,655,
common stock, most of the stock lieiug pledged under Its uuiiied mort.
gage, and the $2,000,000 seconds for its 6 per cent sinking fimd
Idan of 1880. The first mortgage and consol. mortgage bonds are
guaranteed principal and Interest by L. & N., the first mortgage bonds
being indorsed with the guaranty. In year ending June 30, 1890, gross
-(V. 53,
Shamokin Valley Sc PottsvUle.-Llne of road, Sunbury, Pa., to
Mt. Carmel, Pa., and branch, 30 miles. Leased February 27, 1863, for
999 years to the Nortliern Central Railway Co., with a guarantee of
taxes, interest on the bonds and 6 per cent on the $869,4.50 stock (par
<S50),of which $619,400 is owned by the Northern Central. Pennsylvania RR. owns $605,(X)0 7 per cents, and $225,000 additional were
held Januar.v 1, 1892, in the fund to cover the depreciation in value of
the S. V. &P.'s coal lands. Gross earns. 1891, $539,023; net, $323,188.
Shore Ijlne (Conn).— Owns New Haven, Conn., to New London,
Oonn., 49 miles. Leased to New York & New Haven RR. Co. in perpetuity November 1, 1870, at $100,000 net per annum. Dividends usually
314 or 312 per cent in January and 4 per cent In July. Operations and
earnings are included in the reports of the lessee.
;
Apr. 1, 1934
Apr. 1, 1899
N.Y.,12 W.23d St.& Sav. Jan. 1, 1938
None paid.
Irredeemable.
N. Y. State Trust.
Jan. 1, 1911
Amer- Great Northern's through route from Sioux City to Diiluth, a distance ot
435 miles. The mortgage (trustee, Manhattan Trust Company) is
limited by supplemental deed to $1,920,000, the amount now out-
;
northward.
—
Last
Dividend.
Stocks
O. N.Y.,H.B.Piant&8avan.
O.
do
do
&.
J.
J.
V-
Ala., to
&
&
J.
%'
—
;
A.
A.
1884 $1,000 $4,056,000
1889
290,400
1888 500 &o.
3,000,000
1888
1,000
3,000,000
t'1881
1,000
800,000
6
1884
1,000
200,000
6
1889
1,000
7,755,000
5g.
1885 100 &o.
150,000
6g.
1887
1,000
2,090,000
5g4Ja
1872
600,000
100
1,302,900 See text.
1886 100 &c.
690,000
6
1886
1,000
1,300,000
5
1890-1
425,000
1,000
5
1886
1,000
5,675,000
1882
1,000
1,000,000
1890
1,000
1,000,000
6g.
50
869,450 6 per an.
1871 500 &e.
2,000,000
7g.
100
1,000,000 See text.
412
1880 l,000&o
200,000
1888
1,000
1,110,000
%^1890
1,000
1,920,000
1891
1,000
2,340,000
5 g.
1891
1,000
2,033,000 See text.
1868 Various
83,092
§S1881
1,000
4,883,000
%'
1881
1,000
1,130,000
1881
1,000
2,538,000
6
1885
1,000
2,256,000
6g.
1873
iS200
£909,000
1880 $1,000 $2,000,000
6 g.
lous, Ga., 221 miles; Columbus to Greenville (narrow gauge), 49
miles; Opellka to Roanoke, 37 miles; Eutaula to Ozark, 60 m.; Meldrim
to Lyons, 58 m.; Griffin to Chattanooga, 197 m.; total, 622 miles.
History. This was a consolidation in August, 1888, of the Columbus
& Western and other roads. It belongs to tlie Cent, of Georgia system.
The Central went into receiver's hands In 1892, and the interest on
Savan. & Western bonds due Sept. 1 was not paid. See Central of Ga.
Stock.— .$3,000,700 (par $100), aU owned by the Central of Georgia.
BONDS.— Con.solidated mortgage (trustee. Central Trust Co., N. Y.), is
for nominally $18,000,000, of which $1,000,000 held in trust for prior
Ileus; abstract of niortgage in V. 49, p. 240; principal and interest is
guaranteed by Central RR. & Banking Co. of Ga. See default above.
Central of Ga. on July 1, 1892, owned $1,628,000 consols.
In May, 1891, the roadbed and all the assets of the Chattanooga
Rome & Columbus, Chattanooga to CarroUton, 138 miles, were purchased, and its $2,240,000 lirst mortgage bonds guaranteed by endorsement tliereou $150,000 of these bonds are held to redeem the Rome
The stock of the C. R. & 0. is mostly owned
<fe Car. bonds at maturity.
by Central of Georgia.
Earnings.- From March 4, 1892, to Sept. 30, 1892, the receiver of
the Central of Ga. reported gross earnings as $651,454; cleBcit, .$28,912. See Central of Georgia. In 1890-91 gro-ss earnings wore $1,161,187 net, $90,828. In 1889-90 gross, $963,929 net, $208,086, against
*87,288 in 1888-89. Interest charge for 1892-93 will be on Savannah
Western proper $447,750, and on Chat. Rome & Col. $113,500 ; total,
$501,250.
Seaboard
Boiwfs— Pnno!pal,When Due.
INTEREST OR DIVIDENDS.
RAILEOAD8.
For explauation of column lieadiufts,
on first page of tables.
p.
&
earnings were $2,202,151; net, $637,247; deficit under interest, <feo.,
$60,279, against $225,536 in 1888-89.— (V. 50, p. 314 V. 53, p. 370.)
;
South Pacific Coast (Narrow-gauge).— Owns from Alameda
Santa Cruz, 77 miles branches, 27 miles; total, 104 miles. The road is
leased for 55 years from July 1, 1887, to the Southern Pacific Company,
which guarantees the bonds and owns aU but $7,000 ot the stock,
Trustee of mortgage is Farmers' Loan & Trust Company. The stock is
$6,000,000; par, $100. In 1891 gross, $1,107,773; net, $393,807,
agaiust $294,574 in 1890 surplus over charges, etc.. $124,817.
Southern Central (N. Y).— Owns from North Fair Haven, N. Y.,
to Pennsylvania State Line, 114 miles, aud branch 2 mUes. The Lehigh
Valley leased this road from January 1, 1837, for 975 years, without
any guaranty of interest. There are $9(),000 of 7 per ceut prior bonds
due 111 1899. Six coupons from August 1, 1886, inclusive, wore funded
The overdue coupons, including those funded.
Into income bonds.
to
;
;
NOTEUBBB,
1892.
RAILROAD STOCKS AND BONDS.
131
SUPPLEMENT.
INYESTORS'
133
fVOL. LV.
confer a great favor br giving Immediate notice of any error discovered In tliese Tables.
Bonds— PrlnolnSTTEREST OR DIVmENDS
pal,When Due.
Miles Date Size, or
Ammint
Par
of
For explanation of column lieadlngB, &o., see notes of
n,;f=fn,V,iin» Kate per When Where Payal)le, and by Stocks — Last
outstautting
(,
Whom.
Dividend.
Payable
Road. Bonds Value,
tables.
on tlrsl page of
Subscribers
wlU
RAILROADS.
~
,
^
Surth. Alabama— ( Concluded)
£onlh. <t
Consol. mortgage (for $10,000,000), gold, guar.c*,
B.I'acific oas(— i8tM.,g.,guar. (s. f. begins 1912)0
South Pennsylvania Stock
Southern Central (N. F.;— Stock
Consol. mortgage for $3,400,000 convertible. ...c
Pivnded coupons consol. mortgage
Southern Pacific OOJfP^iVr— Stock($150,000,000)
—
—
189
104
1886
1887
114
1882
1887
$1,000
1,000
$3,543,000
5,500,000
1,774,950
3,300,000
475,740
'ido 118,858,170
1,900,000
i',6bo
10,000,000
100 65,135,300
,9'3i
1891
Steamship Ist mortgage bonds
i
31,449,500
I
M
—
—
68
—
1889
"25
13
—
1888
127
6
c'
iBtmyten I>uyvil^P'tMor.-Stock,8-p.o.gn. N.Y.Cent,
gtate Line<i Sullivan Stock
c'
1st mortgage
Staten Island— \st mortgage
Stolen Island Rapid Transit Stock
Ist mort. gold. $ or £, sinking fund not drawn. o'
1879 100 &c.
1,000
1873
100
1883
1,000
All.
.
&
&
J.
A. N.Y.,Offlce,120B'way.
&.
F.
g.
g.
A. Aug., 1889, coupon on.
N. May, 1890, coupon on.
J.
Aug.
N.Y..8.Pao.,23Br'dSt. July
1,
1,
1936
1937
1,
1,
1922
1897
ib'o
200&C.
South. Pac. of Arizona— 1st M, ser. A&B, g., guar.c&r 388 '79-'80
Southern Pacific fCalJ— Stock
land grant... c*
ri875 500 &c.
Ist mortgage,scrie8 A,'gold
1875 500 &c.
8ink'gfund..c*
Series B, gold
J
[not subject.. c* 1,042 1 1876 500 &c.
Series C&D, gold
to call
c*
[1882 500 &c.
Series E &F, gold
J
93 1887
Bo. Pac. Branch Ist
, sink, fund in 1897
i',6do
1888
So. Pac. general mort. ($38,000,000), gold...o*.W ,430
45 1875 500 Ac.
Stockton & Copperopolis Ist M., g. (guar, by C.P.)
100
Southern Pacifi,c of New Mexico Stock
cAr i67 1881
1,000
Ist mortgage, gold
34 1892
1,000
Southwest. rKn.;— 1st M., $170,000 ($5,000p.m.)g.c
100
Smcthwestem CGa.;— Stock, 7 p. c, guar. Cent. Ga.. 333
50
89
Boulhwcit Pennsylvania— Stocli
r
89 1877
1,000
Ist M., sink, fund $5,000 yearly, not drawn
Spartanburg Union <* Columbia 1st mortgage
Spokane Falls tt Northern — Stock
1st mortgage, $20,000 p. m.,gold
5
4
'ido
1,000
100
50
5
&
&
&
4
6'
6g.
§«
6g.
§«
6g.
*.
A;
*,
3,578,000
11,375,000
5 g.
500,000
5g6,888,800
4,180,000
§8170,000
6 g.
5,191,100 7 per an.
1,499,900 10 per an
900,000
7
1,000,000
5
2,500,000
2,546,000
989,000 8 per an.
990,000
300,000
"e"
300,000
7
500,000
1,000,000
eg.
J.
J.
Feb.
Nov.
N. Y.',23"BroadSt.
Jan. 1, 1911
N.Y.,S.Pac.,23Br'dSt Mch., 1909-10
O. N. Y., S. Pac., 23 Br-d St.
().
Apr.
do
do
do
do
do
do
do
do
().
Oct.
Oct.
* <).
do
A <).
do
A, ().
do
& J.
do
A J. New York, 23 Broad St.
N. Y., Manhattan Tr.
A
A D. Savannah and Macon.
A S. Pliila., 233 S. Fourth St
A A.
do
do
A J.
A J. N. Y., Chase Nat. Bank,
A J. N. Y.. Gr'd Cent. Depot
A J N. Y., Union Trust Co.
A O. N. Y., foot Whitehall St.
A o N. Y.. foot Whitehall St.
Apr.
Apr.
Oct.
Jan.
1, 1911
July 1, 1922
Dec. 30, 1892
Jan.
.1.
M.
P.
J.
A.
1905
1905
1906
1912
1937
1938
1905
1,
1,
1,
1,
1,
1,
1,
Sept. 30,
Felt.
1.
1892
1917
Jan. 10, 1932
July
1,
1939
July, 1892
Jan.
Apr.
1,
1,
1899
1893
Jan.
1.
1913
In 1891 gross earnings were $2,028,689 net, $570,414 deficit under
amounted on Feb. 2, 1892, to $1,235,095, and in Aug., 1892, a foreclosure suit was begun under the consolidated mortgage, the Lehigh Valley charges, $118,294, against $2.'>,576 in 1890; ;net profit due the comRR. in whose interest it is said two-thirds tlio bonds are held being pany under the lease, $241,930.
made one of the defendants. Stock, $1,774,950 par, $100. lu 1890-91
Southern Pacific (of California).— C5ee Map.)— A. consolidafross earnings were $521,919; net, $71,546; charges, $199,312: deficit, tion of May, 1888, amended in November, 1892, of several lines in Cali127,766. Thomas C. Piatt, President.— (V. 51, p. 715; V. 55, p. 257.)
fornia. Mileage completed Dec. 31, 1891 was 1,716, of which 242-5 miles
Southern Pacific COMPANY.— CSce Ifa^.— Organizatio-*.— were leased to and operated by the Atlautic A Pacific RK. Co. Balance
This corporation was organized Aug. 14,'84, imder the laws of Kentucky leased to the Soutliern Pacific Co., which owns most of the stock, the
It has acquired a trans-Continental system of railroads, with steam
lessee paying the interest, fixed charges, betterments and additions, and
ehip lines from New Orleans to New York, etc. On Jan. 1, 1892, it had 44 per cent of the surplus income under the "omnibus lease." Amended
;
;
,
;
,
?roprietary lines in its Atlantic system aggregating 1,750 miles; in its
acUic system, 2,581 miles; total proprietary lines, 4,332 miles; leased
lines (other than proprietary lines) in Pacific system, 2,129 miles; total
railroad lines, 6,461 miles.
Proprietary Lines.— These, with a total mortgage indebtedness Jan.
1, 1892, of $119,690,716, areallpractioally owned— only $2,334,477 out
of their total stock of $164,717,227 not being held on Jan. 1, 1892, by
the Southern Pacific Co. Five of tlie proprietary companies as below
designated are operated for 99 years fi-om April 1, 1885, under the
eo-called omnibus lease, under which the Southern Pacific Company
agrees to maintain the roads, to pay all fixed and other charges, including interest on bonds and floating debt, and to divide the total net
profits from operating, after making these payments, among the several
parties to the lease, the Southern Pacific Company to receive 10 per cent
of such profits, and each of the other five companies the percentage
indicated below.
Southern Pacific of
Proprietary lines operated under omnibus lease
California, receiving 44 per cent of net profits Southern Pacific of AriBona, 10 per cent; Southern Pacilic of New Mexico, 6 per cent; Morgan's Louisiana ATexas, 23 per cent Louisiana A Western, 7 per cent.
Proprietary lines not operated under omnibus lease : South Pacific
Coast, Northern Railway, Northern California, Texas A New Orleans,
Galveston Harris. A San Antonio, Gulf Western Texas A Pacific, N. Y.
Texas A Mexican. For further information respecting these companies,
Bee separate statement for each.
Leased Links.—The leased lines other than the proprietary lines are:
The Central Pacific, the Oregon & California and the CaUfomla Pacific
railroads. The terms on which these roads are operated are stated
nnder the head of each company respectively.
CAPITAL Stock.— stock authorized, $150,000,000. See V. 48, p. 428.
Price of Stock.— In 1886, ZOH'aiiA^; In 1887, 29%®36%; in 1888,
19®27ia; inl889,21i2®37'8; in 1890, 22ifl®37i4; inl891, 23®44ie; in
:
;
;
1892 to Nov. 18, inclusive, 34^®41i4.
Earnings.- From January 1 to Sept. 30, 1892 (9 months), gross eamtogs on the whole system were $35,537,595, against $36,308,913 in
1891 net, $12,485,418,fagain8t $13,663,067.
Annual Report. — Fiscal year ends Dec. 31. Annual meeting is held
at San Francisco on first Wednesday following first Monday in April.
Report for 1891 was given at length In V. 54, p. 783, 802, 884, showing
for the whole system, including steamship lines, as below.
;
1890.
1891.
1889.
5,990
$46,467,963
30,406,427
6,053
$48,352,504
31,155,103
6.376
$50,449,816
31,163,612
Earnings over operating exp. -$16,061,536
521,952
Trackage and rentals
$17,197,401
509,606
$19,286,204
564,193
Average mileage operated
Oross earnings
Operating expenses
November, 1892, included 36 companies with a mileage constructed and to be constructed of 3,391.
Bonds.—The authorized stock Is $90,000,000, par $100, of
Stock and
which $65,135,300 is outstanding, all but $20,350 being lield by the
Southern Pacific Company. The iirst mortgage bonds of the several
series are all equally secured. They are being gradually retired with
proceeds of land sales, Ac. They are not subject to call. There is also
a sinking fund of $100,000 per year. Of the mortgage for $38,000,000,
trustee is Central Trust Company. See abstract, v 49, p. 509.
Land Grant.— The land grant was 12,840 acres per mile, and proceeds
of sales go to retire bonds. The total lands unsold January 1, 1892,
were estimated at 7,200,000 acres, but a large proportion of this is barren and useless for agricultural purposes without irrigation. In 1891
the net sales were 46,255 acres, for $204,794 interest on deferred
payments, $164,526; land notes outstanding Jan. 1, 1892, $2,879,416.
Earnings.— Jan. 1 to Sept 30, 1892, (9 months), gross. $7,558,918,
against $6,668,918 in 1891; net, $3,234,937 in 1892, against $2,752,559.
In 1891 gross earnings of both divisions were $9,279,822; net,
$3,851,547; adding rental (.$436,266) received from Atlantic A Pacific
RR., etc., total net income, $4,288,378 surplus over charges, $1,256,734, against $689,839 in 1890; net profit due the company as per
omnibus lease, $1,064,496. (V. 52, p. 643; V. 55, p. 765.)
Mexico.—Owns Arizona State Line t»
Southern Pacific of
Rio Grande bridge, 167 miles. Operated underlease by Southern Pacific
Company, the lessee paying all charges and 6 per cent of net nrofits
under the omnibus lease. Stock, $6,888,800 (par $100). all but $2,500
beiug held by South'n Pacific Co. Sinking fund Jan. 1, 1892, $268,633.
From Jan. 1 to Sept. 30, 1892 (9 mouths), gross earnings were $742,637, against $771,452 in 1891; net $348,368, against $352,580.
Gross earnings in 1891, $1,049,260; net, «452,910; surplus over
charges, $185,832, against $164,837 in 1890; net profit due company
underlease, $145,158.
Southwest Pennsylvania.- Greensburg, Pa., to Fairohance, Pa.,
44 miles, and branches, 60 miles total, 105 miles. Opened April 1, 1873and leased to Peun.sylvania Railroad, which operates it at cost, pay,
ing net earnings as rental. Pennsylvania Railroad owns $1,057,250
of stock and $600,000 of bonds. An increase of stock from $1,000,0(K)
to $3,000,000 was authorized in November, 1889. In 1891 gross earnings were $911,208 net earnings, $373,752, against $448,188 in 1890.
Southirestern (Ga.)— Owns Macon, Ga., to Eufaula, 144 miles, and
branches to Columbus, Ac, 189 mUes. Leased in perpetuity August 1,
1869, to the Central Railroad of Georgia, which assumes the liabilities
and guarantees 7 per cent on the stock. Stock authorized by charter
as amended is $6,000,000. In year ending June 30, 1891, gross earnings were $1,161,133 net, $200,254, against $276,932 in 1889-90 and
$436,133 in 1888-89. Rental is $363,422. See Central of Georgia.
articles of con.«oli<lation filed in
.
;
;
New
;
;
;
Spokane Falls & Northern.—Owns from Spokane
Falls,
Wash-
ington, to Little Dalles on Columbia River, 127 mUes. Completed in
August, 1890. Extension of 13 miles to International boundary to be
Taxes
completed in May, 1893. At boundary road will connect with the
Betterments and additions
Nelson A Fort Sheppard Ry., which is to be built in the interest of the
Interest on bonded debt
Spokane Falls A Northern to Kootenia Lake, British Columbia, 60 miles.
Rentals, Ac
This latter extension has a land subsidy from Canada of 10,240 acres
per mUe, and is to be completed in September, 1893. Mortgage covers
$15,237,291 $15,329,293 $16,486,437 entire property. Maaihattan Trust Company, New York, trustee of
Total
mortgage. Stock authorized and outstanding, $2,500,000 par, $100.
Surplus
$1,346,197
$2,377,713
$3,363,960
Spuyten Duyvll Sc Port Morris.- Road is 6 miles in length and
Of the surplus here shown for 1891 there was due proprietary com- connects the New York Central A Hudson with the New York A Harlem.
panies for earnings remaining after payment of operating expenses, Leased to New York Central November 1, 1871, till December 31, 1970.
fazes and charges, the following amounts: To proprietary companies Rental is 8 per cent on capital stock oi $989,000.
under omnibus lease, $2,177,378; to other proprietary companies,
SulllTan.— Ownsfiom Monroeton, Pa., to Berenice,
State Iilne
$1,218,781 total. $3,396,135, which sum inures almost entirely to the
Stock,
Southern Pacific Company as the principal owner of the stock of said Pa., 25 miles, and operates extension o Lopez, 4 miles. lauds. $990,
Road
000 (par, $50.) The mortgage covers >,00(5 acres coal
proprietary companies. This is exclusive of $456,947 88 accruing to
Pennsylvania A New York Canal A RaUroad
the Southern Pacific Company from the operation of leased properties, leased till 1934 to the
$16,583,488
$1,218,510
436,508
10,472,892
3,109,381
Total
$17,707,007
$1,234,298
265,625
10,259,819
3,569,551
$19,850,397
$1,261,984
259,570
10,629,900
4,334,983
;
&
;
%
and $180,290 income from its other investments, which, if added to
the $3,396,159, will make a total of $4,033,397, against $2,641,303
In 1890.— (V. 53. p. 59, 290, 880; V. 54, p. 526, 598, 783, 801, 802,
884;
V. 55,
!>.
23.)
Southern Pacific of Arizona.—This is the connecting line of
the Southern Pacific of California, extending from Yuma to New
Mexico boundary, 388 miles. The stock is $19,995,000, aU but $2,400
being lield by Southern Pacific Co. The bonds consist of series A, $6,000,000, due 1909, and Series B, $4,000,000, due 1910. Operated under
lease to Southern Pacific Co., the lessee paying all charges and also 12
per cent of the net profits under tlie omnibus lease.
From Jan. 1 to Sept. 30 (9 montlis), gross earnings in 1892 were
^1-430 570. against $1,457,712 net, $397,012, against $446,097
;
Company rental, $40,000 per annum.
Staten Island.— Clifton to Tottenville, 13 mUes.
;
Capital stock
originally $210,000, par $15 per share, but being bought by investors
for $65 a share tills is now taken as par value, and whole amount as
$90,000. Leased to Staten Island Rapid Transit Co. for 99 years fi-om
July 31, 1884, at $80,600 per annum, which pays $4 per share on stock
Interest on bonds and organization expenses.
Owns line of road around
Staten Island Kapld Transit
the Staten Island shore, east and north sides, from South Beach to a
point opjiosite Elizabethport, N. J.; total owned 10 miles; leases Staten
Island Railway, 13 miles tot.al operatetl 23 miles. It has a 99 years
lease of the Staten Island Railway and controls the ferries betwee
New York City and Staten Island and Bay Ridge, L. I.; also the ferr
RR.—
;
NOVEUBER,
1893.J
EAILEOAD STOCKS AXD BONDS.
133
194
INVESTORS' SUPPLEMENT.
[Vol. LV.
confer a great favor by elTliiK immediate notice of any error discovered In these Tables.
Bond*— Prinol
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal, WhenLast
of
Par
Stocks —
For explanation of column headings, &c., eee notes of
Whom.
Road. Bonds Value. Outstanding Cent.
Payable
Dividend.
on first page of tables.
Subscribers
nrlll
RAILROADS.
-
—
Staten Island Rapid Transit (Concluded.)
CAr
2d mortgage endorsed by B. & O., gold
Incomes, gold (non-cumulative)
StuUgarlitArkansas Hie.- 1st M. for $.500,000, g..o
Bummii Branch (Pa.) Stock
let mortgage, sinking fund, not drawn
eunb'ry Uuxle. dt H'i7Ac«o.-lst,8er.A&B.,dr. atlOO.o
cAr
2d mortgage, income
tSunbury <e LeuHstown— Stock
31
20
—
Ist
mortgage
20
43
43
43
c
—
—
43
23
81
81
57
57
Suspension Bridge it Erie Junction lstM.gn.byErle
Syracuse Binghamton lA New York Stock
Consol. M. (prin. and int. guar, by D.L.&W.).c*Ar
Syracuse Oenevait Coming lstM.,8.f.dr'natpar.c
—
2d mortgage
o
&A
1886
1885
1891
50
1874
1,000
1878 100 Ac.
1878 100 &c.
50
1876
500
1,000
1870
100
1876
1,000
1875 100 &c.
1879
1,000
Tennessee Midland—BEE Pabucah Tenkebsee
LABA MA.
Xerre Haute d- Indianapolis— Htoek
1st mortgage (provided for by consol. mort.).c&r
114 1873
Consol. mortgage tor l?2,200,000
Ind. & L. Mich. Ist m., $12,000 p. m., gold,guar.,c*
Terre Saute et Logansp. lstM.,guar. ItyT.H.&Ind.
1st M. on Logans, to South Bend (2d on 93 m.)gu
Terre Haute it Peoria— iHt mortgage, gold
o
New mortgage for $2,.')00,000, gold, guar
(
o*
Tej^oj! Central
1st mortgage, gold
c'
N. E. Div. mortgage, gold (2a on 177 miles)
o*
General mortgage (pledged) gold
o*
Texas it New Orleans o/'74— Ist mort. land gr.c*Ar
Sabine Division, 1st mortgage, gold
o*<tr
—
—
,
Debentures
Texas <£• Paci^e— Stock, $50,000,000
1st M. (Eastern Div.), gold, s. f. red. at 100
114
40
93
65
144
144
1885
1889
1879
1883
1887
1892
177* 1879
52 1881
228 1884
104 1875
104 1882
1883
1,497
o'
524
1875
50
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
100
1,000
between
Tottenville, S. I., and Perth Amboy, N. J. The bridge over the
Kills at Ellzabethport was completed in 1890, and since July 1.
1890 the entire freight traffic of the Baltimore & Ohio BR. Co. to and
from New York has been handled by this company. See V. 51, p. 718.
Securities.— The Baltimore & Ohio guarantees the 2d mortgage
bonds and owns a majority of the stock of $500,000 (par $100). The
Income bonds are held by the B. & O. and the Staten Island Rapid Transit, one-half each.
Loans and bills payable, $374,.^23 Sept. 30, 1892.
Eahnings.— From July 1, 1892, to Sept. 30, 1892 (3 months), gross
earns. $382,191, agst. $383,211 in 1891 net, $176,175, agst. $193,020;
eurplus over charges, $116,365, against $127,091.
Fiscal year now ends June 30. In year ending June 30, 1892, gross
earnings were $1,046,632 net, $354,242; interest, $196,832 rentals
and taxes, $104,600 balance, surplus, *52,810. In year 1890-91 gross
.$1,030,467; net, $346,326 Interest, $185,000; rentals, etc., $112,851;
surplus for year, $48,476.— (V. 52, p. 239, 707; V. 53, p. 187, 641; V.
54, p. 243, 888 V. 55, p. 257, 461, 806.)
Summit Brancli (Pa.)—This company's business Is almost
entirely in mining coal; it leases the Lykens Valley RR., Millersburg
to WilUamstown, Pa., 20 miles, and has a small branch of its own to
Summit Mines, ^ of a mile. Operated by the Northern Central under
contract. Pennsylvania RR. owns $2,190,200 stock and $480,000 bonds.
From Jan. 1 to Oct. 31, 1892 (10 months), gross earnings (including
Lykens VaUey) were $1,981,587, against $1,848,289 in 1891; net,
^139,259, against $26,645.
In 1891 gross earnings were$l,289,820 net, $54,396 interest, $79,345; deficit, .$24,908 loss on Lykens VaUey, $41,281. In 1890 gross,
^1,123,754 net loss, $20,769 delicit under charges, $101,199.
Sunbury Hazleton & W^IIkesbarre.—Sunbury to Tomhicken
Pa., 43 miles. Foreclosed March, 1878. Of 1st mortgage $1,000,000
l8 series A. Stock ($1,000,000) and $179,000 Ists (series B) and $488,.600 incomes are owned by the Pennsylvania RR., which pays net earnings as rental, and agrees to purchase the Series A coupons if interest
is not earned, and to make payments to sinking funds.
Sinking fund
for 1st mortgage now draws about $9,500 bonds yearly at par. Gross
eamtngs in 1891, $544,785; net over expenses and taxes, $230,393,
Against $257,199 in 1890.— (V. 52, p. 761; V. 54, p. 761.)
Sunbury dc lieurlstoTrn.—^elinsgrove Jimction to Lewistown, Pa.,
43 miles. Leased for 99 years from July 1, 1876, to Pennsylvania RallToad for contingent interest in net earnings, which in 1886 were
123,536; in 1887, $156,709; In 1888, $123,619; in 1889, $154,179; in
f 890, $224,967; in 1891, $225,090. Dividends— From 1883 to 1889
inclusive 6 p. ct. per an. from 1890 to October 1892 at rate of 8 p. c.
Suspension Bridge Sc Erie Jnncton.— East Baflalo Junction
to Niagara Falls and Suspension Bridge, 23 miles; Lockport & Buffalo
Railroad leased, 14 miles; total operated, 37 miles. Road opened Janu.ary, 1871. It is leased to New York Lake Erie & Western Railroad Com
£any at 30 per cent of gross receipts, which are guaranteed to be not
»ss than interest on bonds, $70,000 per annum.
Lessees own $203,000
of the stock ($500,000).
SyracuKie Binghamton Sc New Ifork.— Owns from Geddes, N.
Y., to Binghamtou, N. Y., 81 miles. Chartered as Syracuse & Binghamton, and opened October 18, 1854; foreclosed and reorganized April 30,
1857, and controlled by Delaware Lackawanna & Western, which owns
^1,972,900 stock and guarantees, by endorsement on the bonds, both
principal and interest of the first mortgage. For 3 months ending
;
;
;
;
;
;
;
;
;
;
;
;
Sept. 30, 1892, surplus over charges was $79,197, against $75,25.5 in
1891. In the year ending June 30, 1892, gross earnings were $869,458,
against $864,241 in 1890-91 net $409,139 surplus over charges
«nd dividends, $35,384, against $22,464 in 1890-91 dividends, 8 per
<ent. (V. 52,p. 280,707;V.o3, p. 668; V. 54,p. 288; V.55, p. 461,806.)
;
;
;
Syracuse Geneva
Sc
Corning.— Owns from Coming,
N. Y., to
Y., 58 miles, and Penn Yan to Dresden, 6 miles; total, 64
This road was opened Dec. 10, 1877, and is leased to the Fall
Brook Railway Co. Stock is $1,325,000 (par $100), of which N. Y. Central A Uudson River owns $662,600, l)esides $113,000 7 per cent bonds.
In 1890-91 gross earnings were $669,073; net, $167,917; charges and
.dividends, $190,306 dettcit to lessee, $55,107. (V. 53, p S68.)
Geneva, N.
miles.
;
Tennessee midland.— See Padccah Tennessee & Alabama.
Terre Haute tc Indianapolis.- Owns from Indianapolis to
Illi-
79 miles, with coal branches, 45 miles total, 120 miles.
XBases Terro Haute & Logansport RR., 183 miles; St Louis Vanrtalia &
Terre Haute, 158 miles; Indiana & Lake Michigan RR., South Bend,
Ind., to St. Joseph Harbor, Mich., 40 niUes; Terrellaute & Peoria [less
7 miles T. H. iSt I. trackage], 165 miles; total, 670 mUes. Leases the
St. Louis Vandalia & Terre Haute BR. (which see) on joint account
with the Pittsburg Ciuciunati Chic. & St. L. RR., at 30 per cent of gross
earnings, but guarantees the 1st and 2d mortgage bonds. In 1890 a
«eiieial settlement was made with the St. Louis Vandalia & Terre Haute
for amounts due that company, by tlie payment of $287,157 in cash and
$657,665 in notes, payable $25,000 monthly, beginning with August 1,
1890. This company owns $500,000 common aiul .$326,000 preferred
stock of the St. Louis Vandal. & T. Haute. The Indiana & Lake Micliigan
Is leased for 90 years and its bonds guaranteed, principal and interest.
In October commenced to operate under lease the Terre Haute &
Peoria (which see).
Dividends since 1876: In 1877, 6 per cent; from 1878 to 1884,
inclusive, 8; from 1885 to August, 1892, both Inclusive, at the rate of
£ per cent per annum.— (V. 50, p. 275.)
inois State line,
;
$2, 500,000
$1,000
1,000
1,000
5g.
4,500,000 up to 6 g.
(1)
5 g.
4,010,350
1,122,000
7
1,185,000
5 Jc6
6
1,350,000
600,000 8 per an.
500,000
7
1,000,000
7
2,500,000 8 per an.
1,906,000
7
798,200
7
600,000
5
&
J.
J,
N.Y., foot
WhltehaU
St.
do
do
J."&"j. N. Y., Farmers' L. A Tr.
Phlla., 233 8. Fourth St.
J. & J.
do
do
M. & N. Philadelphia, Penn. RR.
M. & N,
do
do
A. & O, Phlla., Guar. T. & D. Co.
J. & J,
do
do
& J,
& O
M15&N
J.
N. Y. Lake Erie
& West.
Q.— F. N.Y.,D.L.&W. RR.Co.
A.
do
do
N.Y.,Farm. L.&Tr.Co.
N. Y., Gr'dCent. Depot.
Jan.
Jan.
1,
1,
1926
1946
1921
Feb. 16, 1876
Jan. 1, 1904
May
May
1928
1938
1892
July
1896
July
190O
Nov., 1892
Oct. 1, 1906
Nov. 15, 1905
Mch. 1, 1909
Oct.
1,
1,
1,
1,
1,
M.
&.
M.
& A, N.Y.,Farm.L.&Tr.Co. Aug. 1 1892
& O.
do
do
April, 1893
& J.
do
do
July 1, 1925
& S. N. Y., Central Trust Co. Sept. 1 1939
& J N.Y.,Farm.L.&Tr.Co. Jan. 1, 1910
do
do
& J.
Jan. 1 1913
& 8. N. Y., Union Trust Co. Mch. 1 1937
&. S.
do
do
Sept. 1 1942
& N. Last paid Nov., 1884. Nov. 1 1909
& N. Last paid Nov., 1884. May 1 1911
None paid.
Nov. 1 1934
& N.
& A N.Y.,S.Pac.,23Br'd3t. Aug. 1 1905
do
do
Mch. 1 1912
& 3.
do
& D.
do
Deo., 1893
& S. N.Y..Merc.Tr.Co.<fe Phil. Mch. 1, 1905
1,988,150 6 per an.
1,600,000
7
600,000
5
480,000
5 g.
500,000
6
1,000,000
6
1,800,000
5g.
S,
,
,
,
,
,
,
(I)
,
2,145,000
1,254,000
2,286,000
1,620,000
2,075,000
584,000
38,710,900
3,784,000
,
V-
,
,
,
,
6
g.
Earnings.— In year ending October 31, 1891, gross, $1,234,890; net
earnings iind other receipts, $446,832, against $419,477 in 1889-90,
interest and 6 per cent dividends, $261,289; loss on Terre Haute &
Logansport and Indiana & Lake Michigan was $54,140; surplus,
$131,403, against $140,175 in 1889-90. In addltiou, in 1890-91 received from dividends on Vandalia preferred, $146,714. V. 54, p. 846;
V. 55, p. 590, 766.
Terre Haute Sc liogansport.— 0%vns from South Bend, Ind., to
Bockville, Ind., 160 miles; leased RockvlUe to Terre Haute, 22 miles;
total operated, 183 miles. Formerly Logansport Crawfordsville & Southwestern, which was sold in foreclosure September 10, 1879, and reorganized under present name. Leased by Terre Haute & ludianapoUa
RR. for 99 years from December, 1879, at 25 per cent of gross earmnga,
and first mortgage Iwnds guaranteed by that companv. Stock, $5w,000; par $50. Rental in 1888-89, $142,284; loss to lessee, $26,894;
rental in 1889-90, $148,538; loss to lessee, $1,766; rental in 1890-91,
$157,018 loss to lessee, $38,740.
Peoria.- Road operated from Terre Haute,
Terre Haute
Ind., via Decatur, to Peoria, 111., 172 miles, of which 144 miles are
owned and 29 miles is by trackage over other roads. Formed in January, 1887, as successor of the Illinois Midland. In September, 1892,
leased for 99 years to the Terre Haute & Indianapolis at rcatal of 30
per cent of gross earnings, with a minimum sullicient to pay interest
on debt. See V. 55, p. 766. Stock is $2,160,000 preferred 6 per cent
non-cumulative and $3,240,000 common par, $100.
In Sept., 1892, a new mortgage for $2,500,000 to the Union Trust
Co. as trustee was filed, for funding old bonds and for new equipment.
Tlie new bonds carry the guaranty, endorsed on each, of principal and
interest of the Terre Haute & Indianapolis. In year encUng Sept. 30,
(V. 55, p. 590, 766.)
1891, gross earnings $363,721; net, $112,568.
;
&
;
Texas Central.— Line of road from Ross, in McLennan County, to
Albany, Texas, 177 miles Garrett to Roberts, 52 miles total, 229 miles.
Defaulted in interest in 1885 property sold in foreclosure April 22,
1891, and purchased by Charles Moran, C. B. Gould and H. K. McHarg,
of N. Y., for $750,000. Reorganization committee is still operating the
property. As to reorganization see V. 55, p. 23, 766. Bonds are deposited
with the Farmers' Loan & Trust Co. For bettennents $350,000 has
been borrowed on temporary loans. In the year endii g Sept. 30, 1892,
gross earnings were $295,000; net, $35,000. In 1890 91 gross, $300,781; deficit under operating expenses $37,346.— (V. 48, p. 160; V. 52,
V. 55, p. 23, 766.)
p. 165, 204, 499, 609, 681
Texas & Ne^v Orleans (of 1874).— Houston, Tex., to Orange
(Sabine River), 104 miles; and Sahlne City to Rockland, 104 miles;
total, 208 miles. Belongs to the Huntington Southern Pacific system,
together with the Louisiana Western. This was a reorganization, 1874,
of the old Texas & New Orleans Railroad. The stock, is $5,000,000, all
but $2,500 of it being owned by the Southern Paciflo. In addition to
above bonds there are $422,651 Texas School bonds. Subsidy lands
Jan. 1, 1892, were 730,860 acres; other lands 114,481 acres.
From Jan. 1 to Sept. 30, 1892 (9 months), gross earnings were $1,220,703, against $1,179,824 in 1891; net, $310,604, against $492,605.
Gross earnings in 1891 were $1,674,509; net, $735,072; surplus
over charges, $437,176. In 1890 gross, $1,871,818 net, $879,747.
Texas Sc Pacific.-Owns Eastern Divtsion-From Texarkana
miles;
Texarkana Juncto Fort Worth, via Whitesboro, 244
tion to Fort Worth, via Marshall, 248 miles Marshall to Shreveport,
40 miles total eastern division, 532 miles. Rio Grande Division— Fort
Worth to Sierra Blanco, 524 miles Sierra Blanco to El Paso (joint
track), 92 miles; Gordon Branch to coalmines, 3 miles; total Bio
Grande Division, 619 miles. New Orleans Division— Formerly (New OrHitus Pacific Railroad)— Shreveport to New Orleans, and Baton Rouge
braucn, 346 miles. Total of all, 1,497 miles.
Organization —The Texas & Pacific was built under act of Congress
of Maroh 31 1871, and other act« 1872-74, and the laws of Texas.
In 1888 the company was reorganized pursuant to the plan In V. 43,
p. 1 64. and V. 45, p. 401, without having the Court confirm the sale in
foreclosure made in November, 1887, thus preserving the original Federal charter. No interest was paid on the 2d mortgage incomes in
1892. See provision l)clow, and V. 54, p. 486.
At the reorganization a land trust was formed. See Texas Paciflo
Land Trust in " Miscellaneous Companies."
Stock.— Of the stock Missouri Pacific on July 1, 1891, owned
;
;
;
;
;
:
;
;
;
,
$6,525,000.
Price of Stock.— In 1888, 18T8a26%; In 1889, 17i3a23; in 1890,
12®24i2; in 1891, 1034®16'8; in 1892, to Nov. 18 inclusive, 781458.
Bonds.—Trustee of first inortgage of 1888 is Fidelity Ins. Trust & Safe
Deposit Co., of Phila<lelphia of second mortgage of 1888 Mercantile
Trust Co of New York. The 2d mortgage bonds contain tlw following
clause: "On and after March 1, 1892, the trustee of the mortgage
securing these bonds, in case of non-payment of full interest at 5 per
cent per annum, sliall, on request of the holders of not less tlian onethird of the bonds outstauding, enter into possession of the mortgaged
property and manage the same under the direction of a committee apRointed by a majority of the bondlioldors, until payment of interest in
(See mortgage alistracts. Chronicle, V. 47, p. 82.) There were
ill."
also Jan. 1, 1892, a Texas school loan of $144,182, for which $167,000
consolidated 5s are reserved, and $93,000 old bonds unredeemed, and
$58,542 equipment obligations.
;
,
NOVEMBBR,
RAILROAD STOCKS AND BONDS.
1892.]
139
MAP OF THE
TOLEDO, ANN ARBOR
t:
NORTH MICHIGAN
Auu»^'^
.
\CheBhlre
3
Helena
^
Railway
^
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m
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PITTSFIELD,
J'citton'^
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Bankers c{
'
omeK?'
?^»tt'
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(<<idl80^ TecumseSjJg^orJ^'''^'
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\^
MANHATTAN
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\*^y-
Valparals*
Mllford JcTf
Plymouth
tlioj
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/.
.
if
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.
.
136
;
INVESTORS'
Subscribers
nrlll
:
:
SUPPLEMENT.
[Vou LV.
confer a great favor by giving Immediate notice of any error discovered In tbese Tables.
RAILROAB8.
Miles
For explanation of coUinin lieadings,
on first page of tables.
&o., see notes
Date
of
of
Size, or
Outstandlngp^^g^^f
Road. Bonds Value.
Ttxas d Pacific.— (Concluded).
c*
1st consol. mort. for i}t25,000,000, gold
c*
2d consol. M. ($25,000,000), gold (see rem.)
Texas Sabine Val.d- N. TT.— 1st M. $12,000 p.m., g..c
Third Aretme—Seo '•Miscellaneous Companies."
Tioga JiM.Stock ($189,700 is preferred)
1st M., due 1882 and extended, gold
,497
,497
38
46
46
46
mortgage
Extension bonds
Elmlra State Line Railroad 1st mortgage, guar.
Toledo Ann Arbor North Michigan — Stock
Orilrd-rail
7
<£•
"63
106
&
Gr.Tr. (South Div.) 1st mortg., gold.
Tol. A. A.
Tol. A. A. & N. M. 1st M., A.A.to St.Louis.Mich.g.
Tol. A. A. & Mt. Pleasant 1st mortgage, gold, .c*
c*
Tol. A. A. & Cadillac Ist mortgage, gold
L. Mich. 1st M., CadiUac to Copemish.
Tol. A. A.
c*
CJonsol mortgage tor $10,000,000, gold
Car trusts
21
63
&
40
256
1888
1888
1888
$1,000 $21,035,000
1,000
23,150,000
1,000
475,000
50
1852 500 &c.
1876
1,000
1875
1,000
1875 500 &c.
100
1881
1,000
1884
1,000
1886
1,000
1886
1,000
1889
1,000
1890
1,000
—
Toledo Columbus <e Cincinnati See Toledo & Ohi o Cen.trxl.
Toledo <t Ohio CeHfraf— Common stock
100
Preferred stock
100
Ist mortgage, for $5,000,000, gold
197 1885
1,000
(for $2,500,000), gold
1892
Western DiV. 1st mort.
'87-90
Car trusts. Series 2, 3 and 4
Toledo <£ Ohio Central Extension Stock
100
Marietta Mineral 1st mortgage, gold
45 1885 100 Ac.
Consol. mortgage for $1,500,000, gold
o*
60 1888
1,000
230
100
Tol. Peoria ti ^^e«^— Stock
Ist mortgage (tor $5,000,000), gold
c*
230 1887
1,000
Scrip for coupons in 1888 (payable at will)
230 1888 Various
—
—
Louis <l Kansas City. Common stock...
Preferred stock, 4 per cent, non cumulative
iBt mortgage, gold (redeemable at 105)
c*|
loletto St.
j
451
451
451
INTEREST OR DIVIDENDS.
* When Where Payable, and by
Amotmt
Par
I
100
100
1886
1,000
&
&
D. N.Y.Mer. Tr. Co.,& Phil. June
1.
None paid.
Dec.
J. N. Y. ofHce, 15 Wall St. July
1,
1,
1,
2000-
A
&
&
&
&
&
&
&
&
&
N. Phll.,Newbold's Son&Co Nov.
N. N. Y., N. Y. L. E. & W. Nov.
1,
1,
1,
1,
191^
189e
1,
1,
1921
1924
1916
1917
1919
Mch.
580,900
239,500
125,000
265,000
160,000
6,200,000
1,260,000
2,120,000
400,000
1,260,000
600,000
650,000
150,000
J.
g.
M.
M.
7
7
A.
A.
f«- J.
6g. M.
6g. M.
§S- M.
6
J.
J.
g.
5g.
4,849,000 See text.
3,708,000 5 per an.
3,000,000
5 g.
O.
O.
Elmlra,ChemungCo.Bk. Oct.
do
do
Oct.
J.
N.Y.,Farm.L.&Tr.Co. Jan.
&
&
5g. M.
do
do
do
S.
8.
J.
J.
&
&
&
M.
if: M.
J.
135,000
11,250,000
5,805,000
9,000,000
J.
J.
do
do
do
N. Y.,
Sept. 1,
Mch. 30,
July
& Stanton. May
Moran
1,
1,
2000
1938
1905
1905
194*
Trust Co, Nov. 25, 189^
do
Oct. 25, 1892'
July 1, 1935
do
Nov. 1, 1942:
do
Quar. InstaL
do
Nov.
July
Brothers,
N.Y.,Farm.L.&Tr.Co, Apr.
A D.N.
J.
g.
Y., Central
N. N. Y., Coffin
N.
do
April.
6
do
do
do
N.Y.,Farm.L.&Tr.Co, Jan.
N.
Quar.
(»)
May
N. N. Y., Office, 29 B'way.
Q.-F. N.
Q.-J.
J.
377,738
1,500,000
650,000
850,000
4,076,900
4,800,000
Dne.
Stocks— iMst
Dividend.
Whom.
Payable
J.
5
Bonrf«— Prlnol
pal. When
Y., Bk. of No.
Amer. June
1,
1,
1916
1938
1,
1,
1917
1898
1,
1916
Dividends.—On common: In 1891, May, 1 per cent; Aug., 1 In
U. 8. Circuit Court
granted an injunction against enforcement by the Texas State RR. 1892. Feb., 1 May, 1 ; Aug., 1 Nov., 1. On pref. II4 quarterly siDce.
Commission of the low tarift' for freight imposed about Sept. 1, 1891. Oct., 1890.
Price of Stock.- Common In 1890, 42»2®68>s; In 1891, 44®61 r
See decision V. 55 p. 314, 332. No interest was paid on the second
mortgage incomes on March 1, 1892. See provision above, and V. 54, In 1892 to Nov. 18, Inclusive, 45®52i2.
Price of preferred stock: In 1890, 68i4®95; In 1891, 78®88; In
486.
p.
Eaknings.— From January 1 to Nov. 7, 1892 (1014 months), grosti earn- 1892 to Nov. 18, inclusive, 75-ai88.
Bonds.- First mort. is for $5,000,000, but no more than $3,000,000 can
ings were $5,528,423, against $5,910,889 in 1891.
be Issued except by consent of three-fourths of the present bondholders.
Antjual Report.— Fiscal year ends Dec 31. Annual meeting is held The Columbus & Hocking Valley RR. Co. endorsed on the bonds their
In New York on the tbii'd Wednesday In March. Report for 1891 was guaranty of the interest, but in September, 1891, notified the Toledo <fc
In the Chronicle, V. 54, p. 483.
Ohio Central that the guaranty would be disregarded as no considera1888
1889
1890
1891.
tion had been given. See Chronicle, V. 53, p. 436. On July 1, 1892,.
$6,917,802 $7,327,711 $7,226,462 bUls payable were $53,097 balance to credit of income, $732,836.
Tot. gross earnings. $6,374,386
1,302,717
1,671,744
Net earnings
1,467,006
1,510,741
Western Division mortgage for $2,500,000 was authorized in Septem130,936
Other receipts
178,909
151,156
96,151 ber, 1892, and covers the road purchased in 1892 from Toledo toRidgcway, 82 miles, and the extension thereof to be biiilt to Columbus,,
Total income ....$1,433,653 $1,850,653 $1,618,162 $1,606,892 about 50 miles. See V. 55, p. 322, 545, 590.
The Toledo & Ohio Central guarantees the Interest on $300,000 To$109,665
Paid rentals, etc
$94,978
$82,079
Interest on debt
1,279,490
1,279,490
1,279,490 ledo ifc Ohio Central Extension bonds, and principal and interest oni
Kanawha & Michigan bonds— see those companies.
Surplus for year.
$461,498
$243,694
$245,323
Toledo Columbus & Cincinnati.— The earnings of this road, not in390,383174,164
212,302 cluded in the Toledo & Ohio Central earnings below were From July 1,
New equip't &real est.
1892, to Sept. 30. 1892 (3 months), gross $104,592, against $87,776 in
Balance
$287,334 def.$146,689 8ur.$33,021 1891; uet, $34,249, against $32,528. In year ending June 30, 1892,
-(V. 53, p. 257 V. 54, p. 367, 410, 483, 486 V. 55, p. 314, 332, 857.) gross earnings on 72 mUes were $328,132; net, $98,893; interest, 52,500 rentals, 7,490 miscellaneous, $20,845 balance, surplus, $18,058.
Third Avenne.—See " Miscellaneous Securities."
gross,
Latest
1892, to Sept. 30, 1892
Tioga.— State line junction, N. Y., to HoytviUe, Pa., 61 miles, and $462,610, Earninos.—July 1,In 1891; net, $166,714, (3 months),
against $414,941
against $155,577.
Blossburg, Pa., to Morris' Run, Pa., 3 miles, of which is leased State
Annual Report.— Fiscal year ends June 30. Annual meeting is held
Line, N. Y., to Northern Central R'y, 7 miles and Amot Junction to
Hoyt\ille, Pa., 12 miles. Controlled by N. Y. L. E. & W. In year at Toledo on the first Monday In September. Report for 1891-92 was
1891-92 gross earnings $350,041 (against $272,617 in 1890-91) net, in V. 55, p. 254, 677. Earnings on 235 miles have been as follows
1890-91.
1891-92.
$175,312 fixed charges, $71,067 surplus, $104,244. (V. 53, p. 713
1888-89.
1889-90.
Gross earnings
V. 55, p. 460.)
$1,163,817 $1,388,749 $1,501,822 $1,561,339
Toledo
North Michigan.— C5ee Map.)— Owns Net over op. ex.A taxes.. $344,526 $545,639 $468,015 $506,306
Arbor
Other income
25,564
22,084
30,760
33,018
from Toledo, O., to Copemish, 279 miles, aud branches, 10 miles
trackage, 4 miles; total, 284 miles. Proprietary line Frankfort & SouthTotal net Income
$366,610 $576,399 $501,033 $531,870
eastern BR., Copemish to Lake Michigan, 23 miles. Total 307 miles.
History.— This company is a consolidation of the several companies Paid Interest on bonds... $150,000 $150,000 S!150,000 $150,000
31,226
31,636
36,878
37,088
whose bonds appear in its statement in the table above. It is pro- Interest on car trusts
34,267
33,019
29,256
30,133
posed to build an extension 140 miles in length from Marion to Rentals
294,488
167,966
Dividends
92,625
Mackinaw. See V. 52, p. 641. In May, 1892, purchased the stock and
3,738
Miscellaneous
438
555
14,802
bonds of the Frankfort & Southeastern. See V. 54, p. 763.
Bonds.-The first mort. of 1881 covers the Southern Division, formerly
Total payments
$216,782 $304,949 $402,665 $513,719
called the Toledo Ann Arbor & Grand Trunk Railroad, aud the mortgage
$18,151.
$98,368
$149,828 #271,450
of 1884 covers road between Ann Arbor and St. Louis, Mich. Under Balance, surplus
the consolidated mortgage of 1890 (trustee, Fam ers' Loan & Trust -(V. 53, p. 1 86, 436, 602 V. 55, p. 254, 322, 545, 590, 677.)
Company), suftloient bonds are reserved to replace di visional securities
Toledo &. Ohio Central Extension.— r«ee JIfop.)— Owns from
when due, aud the remainder are to be issued for new road at $18,000 Marietta to Newton, Ohio, 45 miles, connecting with the Toledo& Ohio
per mile of new lines, with $500,000 for terminals, &c.,but limited to Central main Line; branches to Stewart, etc.. 15 miles; trackage Marietta
$10,000,000 In aU. (See V. 50, p. 423.) Current liabilities July 1, 1891, to Moore's Junction, Ohio, 3 miles. Total, 63 miles. In 1888 purchased
the Marietta Columbus & Northern (formerly Marietta Mineral), and in.
$338,575 cash and current assets, $142,434.
Latest Earnings.- From January 1 to Oct. 31, 1892 (10 months), 1892 completed extension to Newton. Consolidated mortgage issued
escrow togross earnings $922,946, against $854,589 in 1891.
to build extension and for equipment and $650,000 held
Annual Report.- Fiscal year ends Dec. 31. Report lor 1891 in V. pay off the Marietta Mineral 1st mortgage at maturity. Of these
bonds $300,000 (Nos. 1 to 300) have interest guaranteed by the
65, p. 296,
Toledo & Ohio Central RR. Co. In 1891 gross earnings, $196,978; net,.
1888.
1889.
1890.
1891.
250
286
234
$88,638; interest, $74,212; rentals, etc., $3,225; balance, sur., $9,201.
Average mileage
$687,579 $1,014,307 $1,127,208 $977,254 In 1890 gross, $109,312 net, $58,036.
Gross earnings
686,205
733,081
601,762
Oper'gexpenBes,taxe8, etc. 433,392
'Western.—Owns from Indiana State dne
Toledo reorla
to Warsaw, 111., 220 miles; branch. La Harpe to Iowa, 111., 10 miles;
$254,187 $328,102 $394,127 $375,492 trackage to Peoria and to Burlington, la., 17 miles total operated,
Net earnings
294,800
340,200
371,640 247 miles. History— Formerly the Toledo Peoria A Warsaw, then the
236,800
Interest on debt
Toledo Peoria & Western, and was leased to Wabash sold in foreclos.$53,927
$3,852 ure October 29, 1886. Stock, $4,500,000. of whicli $423,100 is in the
$17,387
$33,302
Surplus for year
James M. Ashley, President, 29 Broadway, New York. (V. 52, p. treasury. Bonds.— Abstract of mortgage (Charles Moran, Tliomas
Denny and Cornelius B. Gold, trustees) V. 45, p. 242. The company
165 428, 641 796; V. 53, p. 969 V. 54, 763 V. 55, p. 296.)
into
Toledo Colunibns Cincinnati.—See Toledo & Ohio Central, funded part of coupons in 1888option 4 per cent scrip certificates due
of the company.
April 1, 1893, but redeemable at
Ohio Central.— f See Map)—OvrD8 from Toledo, O., to
Toledo
Latest Earnings.- From July 1, 1892, to Sept. 30, 1892 (3 months)'
Coming, 184 miles, including 12 miles leased; Thurston to Columbus,
agst. $79,813'
29 miles, including 5 miles leased total owned, 197 miles. Leases also. gross $258,562, against $265, 546 in 1891 net, $73,147,
Annual Report.— Fiscal year ends June 30. Report for 1891-92 in
Corning southwardly, 13 miles; Glouster to Carrington, 11 miles;
leased, 41 miles total operated July 1, 1892, 238 miles. In Sept., V. 55, p. 503, showed results as follows
total
1892, imrchased thcToledo Columbus & Cincinnati RR., extending from
Surplus.
DefUit.
Earnings. Net Revenue. Int.d Taxes.
Toledo to Ridgeway,0., 82 miles (of which 3 miles trackage), and ar- 1888-89... $903,936
$16,888
$225,077
$208,193
ranged to build fiom Ridgcway to Columbus, O., 50 mUes. This will 1889-90... 938,830
430
227,205
227,635
give the Toledo & Ohio Central a double track from Toledo to Colum- 1890-91... 926,548
13,303
230,263
243,566
bus and a short route to Chicago via the Chicago <fc Erie. V. 55, p. 590.) 1891-92... 1,017,791
50,602
232,003
282,605
Organization.— Formed after sale in foreclosure of the Ohio Central
(V. 51, p. 303, 456: V. 53, p 407; V. 54, p. 889; V. 55, p. 503.)
interest in the
main line on Auiil 15, 1885. In October, 1890, a large
Toledo St. LiOuls Kansas City.— r See Jfap>— Road— Operates
Kanawha & Michigan (which see) was acquired. The Toledo Coliuubus from Toledo to Kast St. Louis. 451 miles.
& Cincinnati was purchased In 1892— see terms V. 55, p. 590.
History. This company was formed Jime 12, 1886, by consolidaCapital Stock. Common stock was increased In February, 1891, tion, and it took all the main line of the Toledo Cincinnati & St. Lorls
from $1,849,000 to $4,849,000, and on Sept. 29, 1892, stockholders narrow-gauge road, foreclosed December 30, 1885. In June, 1890, the
voted to increase it further to $6,500,000, for extensions, rolling stock work of standard-gauging the road was completed. Arrangements for
terminal.siu St. Leuis were completed in April, 1892. See V. 54, p. 598.
and impi'ovements. Pec below aud V. 55, p. 322, 545, .'>90.
Tlie preferred is entitled to 5 per cent non-cumulative, then commoa
Stock.— The preferred is a 4 per cent coui>ou stock, non-cummative,
to 5, then preferred to 2, then common to 2, then both share.
and without voting power, but the certificates contain the following
General Finances.—In August,
1892, the
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KoreuBEB,
EAILROAD STOCKS AND BONDS.
1802.]
k
1S7
MAP OP THE
TOLEDO & OHIO CENTRAL
EXTENSION RAILROAD
AND CONNECTIONS.
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138
INVESTOES' SUPPLEMENT.
[Vou
liV,
November,
1893. J
KAHROAD STOCKS AND
BONDS.
1S9
—
.
no
>
:
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INVESTORS' SUPPLEMENT.
[Vol. LV.
gabsorlbers will confer a greitt favor by glvlne Immediate notice of any error dlBCOvered In tbeae Tables.
Bonrfu— Prlnd
INTEREST OK DIVIDENDS.
RAILROADS.
pal, When Due.
Miles Date Size, or
Par
0^2^„'Rate per When Where Payable, and by Sloe' S—LtMt
of
of
^or explanation of column headings, Ac, see notes Road. Bonds Value. Outstajidlng gg^f Payable
Dividend.
Whom.
on first page of tables.
St. L. <t Kansag Cilu—( Coneludcd)—
iBt con. M. for $13,500,000 ($30,000 p.m.), gold
Toledo
4i8g.
1892
Toledo Saffinaw
dt
Ki«ift«ffO»i—Stock
"5'
96 1888 $1,000
1st mortKage, gold
.Toledo <t South Ilaven
ibio
'2,'5ob,'o6o
122
Toledo Walhonding Valley il OAio— Stock
1,000
1.500,000
Gon. M. ($20,000 p.m.), gold, Scriea A, guar.. c*&r 122 1891
roronfo Grey d Bruce— Bees Canadian Pacific.
100
205,000
Btock
Trmeirse City
1,000
250,000
26 1883
iBt mortgage
;--v;vA"" •
165,000
10 1883 500 &c.
Ist M., g. s. f. (red. at 110) .0*
TtKton aiube <f A'or.—
Funnel Bll. of St. Louis— See Terminal Assn. of ST. L., IN Mis cellan ECUS.
100
1,694,100
SUiii^i ($3,000,000 authorized).,
Vlster <t Delaware—
0*
1,000
1,393,600
78 1888
Consol. M. for $2,000,000, gold
J.
'i'^a g.
BR—
.
1,000
1,000
1,000
,
£200
.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
provisions " This stock constitutes a lien upon the property and net
earnings of the company next after the company's existing first mor^
create no mortgage of its mam line other
fage The company will nor of any part thereof, except expressly
ban its first mortgage,
Buliject to the prior lien of this certificate, without the consent of the
holders of at least two-thirds of this stock present at a inectiug."
Bonds.— The first mortgage. $20,000 per mile, covers the terminal
property at Toledo and E. St. Louis. The bonds are redeemable at 105
and interest upon six months' notice, but not less than the whole issue
can be called Mr payment. Abstract of morteage in V. 45, p. 403.
On Nov. 14,1892, prefeiTcd stockholders voted down a ju-oposition to
Issue a 41a per cent consol. mortgage for$13, 500,000. (Sec V. 55, p. 639,
857.) On July 1. 1892, there were outstanding $450,297 notes payable, and $397,865 equiiiment contracts.
Latest Earnings.— Fronl July 1 to Sept. 30, 1892 (3 months), gross,
$066,173, against $582,489 «et, $205,975, against $184,057.
Annual Report.- Fiscal year ends June 30. Report for 1891-92
with balance sheet was in V. 55, p. 542, showing gross earnings $2,078,416, against $1,672,781 in 1890-91; net, $480,315: interest,
$523,310; balance, surplus, $42,995. N. Y. office, 44 Wall Street.— (V. 53,
p. 126, 368, 804; V. 54, p. 598, 725; V. 55, p. 463, 542, 639, 766, 857.)
Toledo Saginaw Muskegon.—From Muskegon, Mich., to Ashley, Mich., 96 miles, connecting with the Toledo Ann Arbor & North
Michigan. On August 1, 1888, the Grand Trunk of Canada purchased
the $1,600,000 stock and above bonds were issued having a traffic guarantee from that road and the Cliicago & Grand Trunk. In 1891 gross
earnings were $114,143 net, $18,752 interest, $78,000.
Olilo.— Owns road in operaToledo Walbondliig Valley
tion from Toledo June, to Toledo, O., 80 mUes, and under construction,
from LondonvUle to Coshocton, O.,
to be completed in 1892,
42 miles. A consolidation of the Northw. Olrio and the Walhon. Valley
Railway. I^eiised to the Pennsylvania Company, which guarantees
principal and interest of the bonds. The mortgage is for $4,000,000
Oiere is a sinking fund of 1 per cent, if bonds can be purchased at par
or less otherwise it lapses, the bonds not being subject to call. In
1891 gross, $460,241; net, $88,001; hire of equipment, &o., $50,389;
halance, $37,611. In 1890 gross, $477,234; net, $160,932.
Traverse City.—Owns Walton Junction, Mich., to Traverse City,
Mich., 26 miles. Leased to Grand Kapids & Indiana till January 1,
1933 rental, net earnings, which are guaranteed to be not less than
Interest on first mortgage. There are also $190,000 of 5 per cent incomes due January 1,1933. Stock, $205,000; par, $100. In 1891 gross
earnings were $43,497; net, $8,170; interest, $7,500 other charges,
$787 loss $116, against $2,208 in 1890.
Nortliern (Arizona).—Projected and under
Tucson Globe
construction from Tucson, Ariz., on Southern Pacific KR., to Globe, 110
with branch to coal fields, 20 miles. Mortgage is for $20,000 per
miles,
mile. Bonds were reported in litigation in 1892.
Ulster ic Delaware.—Owns from Rondout (Hudson River), N. Y'->
to Stamford, N. Y., 74 miles; branch to Hobart, 4 miles; leases Delaware & Otsego RR., Hobart to Bloomville, 9 miles; total, 87 milesIn 1890 parties interested in the New York Central and Delaware &
Hudson came into control. Finances readjusted in 1888 and consolidated mortgage issued to retire old 7 per cents. The balance of consols
vmlssiied is reserved for future extensions.
From Julv 1. 1892 to Sept. 30, 1892 (3 months), gross earnings were
$155,536, against $140,476 in 1891 net, $65,584, against $00,674.
In year ending Juno 30, 1892, the gross earnings were $399,866 net,
$111,927; interest. $69,650; surplus, $42,277. In 1890-91 $376,144
V. 55, p. 597.)
net, $118,617. (V. 53, p. 603
Union Pacific Railway.— C5ee jlfan.j—Lines owned directly.—
Main line (former U. Pac. RK.) Council Blufl's to Ogdeu and branches,
1,038 mUes; former Kansas Pacific Railway, Kansas City to Denver,
643 miles, and Leaveuwerth to Lawrence, 34 miles; former Denver
Faclflc R'y, Denver to Cheyenne, 106 miles total owned, 1,822 miles.
The "Union Pacific System" on January 1, 1892, was made up of
the following lines :—
:
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-,
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Miles.
Miles.
1,822
Union Pacific
Denv. Leadville & Gunnison 325
165
Kansas (Central
482
Omaha & Republican Val
•Oregon 8. L. & Utah Nor
1,425
R & N.
Co.'s, rail lines. 1,059
•St. Joseph* Grand Isl'd.... 251
•Ore,
•Kansas City <fe Omaha
*Un'n Pac. Denver & Gulf. .
*Ft. Worth & Denver City. . .
.
.
*U. P. Lincoln & Colorado.
Six small roads
. .
193
985
469
225
269
Total " Un. Pac. Sys."... 7,672
"These properties, having securities of their own held by the public,
are separately described in tliis Sui'pleimknt.
Also controls the Central Branch Unioii Pacific and leased lines (388
which are operated by the Missouri Pacific under an
miles)
agreement with Union Pacific for twenty-five years from 1885.
Also owns jointly with other companies the Leavenworth Topeica &
Bouthwestem, 47 miles; Manhattan Alma <& Biu'lingame, 56 miles;
Montana Union, 72 miles grand total of all lines, includiug one-half
lines operated jointly, 8,147 miles.
History, &c. This company, the Union Pacific Railway, was
formed by a con8olid.ation, January 24, 1880, of the Union Pacitie Railload and the Kansas Pacific and Denver Pacific, made under authority
of the acts of Congress of July 1, 1862, and July 2, 1864. The Union
raolflo Railroad was chartered by Act of Congress of July 1, 1862,
;
—
J,
July
N. Y., Office, 271 B'way.
1,
191S
7g.
J.
J.
&
&
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J.
5g.
.
100
&
J."&"j, N.Y., Fanners' L'n 4 Tr. July"iV"i931
"3'
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&
D. N. Y., Central Trust Co. June 1, 1928
•
Vnion £lernted—Bee BROOKLYN Elevated.
Union Pa^ifie-Btock
1,035 1866-9
Istmort., Omaha to near Ogden,l,035 miles...
1,035 1866-9
2d mortgage, currency (Government subsidy).
1874
g.,$&i,8.f.notdr'n.o&r 1,035
Sd M. on road (2d on land)
4 1871
Omaha bridge bonds (8. f drawn at 110),gold.c*&r
4 1885
drawn), gold
o
Renewal (sinliing fund, not
c"
1879
Collateral trust bonds, gold, s. f. drawn at 105.
1883
Collateral trust bonds of 1883, gold, s. f. not dr'n
325 1889
CoUat. tru8t,Denv. L'dv. &Gun. ($3.250,000),g.c'
1887
i
in Oct
0*
Bauip. honds Series A, lo d"« yearly
1888
Series B, ijo due yearly in April
Do
1890
October.
Series C, ijo due yearly in
Do
Kansas Pac. Eastern Di v. Ist M. ,$1 6,000 p.m.,gold 140 1865
253 1866
Middle Dlv. 1st mort., $16,000 per mile, gold.
1942
Monthly.
$397,865
1,600,000
1,560,000
Equipment contraete
N. Y.,Winslow,L.&Co. Jan.
BoB.,Ain.L.&Tr.Co; Lon July
1,
1,
Q.-J. v. Y., Un. Trust & Bost. Apr. 1,
6
J. & J.
do
do
1896 to
6
J. & J. U.S. Treas. at maturity. 1896 to
M. & 8. N. Y., Un. Trust & Bost. Sept. 1,
8
8g. A. & O. Lon. A N. Y., Drexel M. Apr. 1,
1%
60,868,500
27,229,000
27,236,512
5,547,000
732,000
889,000
3,827,000
4,875,000
2,044,000
358,000
1,263,000
604,000
2,240,000
4,063,000
,
§«• A.
^«- J.
5 g. J.
4iag. M.
5
5
5
A.
A.
A.
6g.
6g.
J.
F.
&
*
&.
&
&
&
&
&
*
O. N. Y., Union Tr., & Bost.
J.
D.
N.
O.
O.
O.
A.
D.
do
do
do
do
do
do
do
do
Oct.
1,
1933
1913
1884
1899
1899
1893
1898
191*
1908
1907
1919
July 1,
Deo. 1,
Nov. 1,
$72,000 yrly.
210,000 yrly.
do
do
do
do
do
do
do
do
ijo yearly Oct,
Aug.
June
1,
1,
1895
1896
which gave the company a land grant of 12,800 acres per mile, estimated at a total of 12,083,227 acres, and a subsidy in United States
bondsof $27,236,512 on 1,033 mUes of road. The Kansas Pacific haiJ
a subsidy of $6,303,000 and a land grant of about 6,000,000 acres.
Since the consolidation in 1880 mucii, additional mileage has been
built and acquired through subordinate corporations, a controlling
interest in whose stock is held by the U. P. See separate statements,
for companies marked with an asterisk in table of mileage above.
In 1886 a lease of the Oregon Railway & Navigation RR. to the Oregon Short Line, guaranteed by U. P., was negotiated (see V. 48. p. 261.
In November, 1890, there was a change in the management of the
Union Pacific, Messrs. Siduey Dillon, Jay Gould, Russell Sage, H. B
Hyde and A. E. Orr becoming directors. SeeV. 51, p. 748 V. 54, p. 725.
Capital Stock.— The capital stock issued and outstanding is $60,;
868,500, having been increased about $10,000,000 since 1880.
Dividends— Since 1879— In 1880, 6 per cent; in 1881, 6%; in 1882,
7; in 1883, 7; In 1884, 312; none since.
Price OF Stock. -In 1884, 28®84»8; in 1885, 41®62%; in 1886, 441*
®68i4; inl887, 44®63%; in 1888,48®66i2; in 1889, 56is®71i4; la
1890. 40®68''8; in 1891, 32i4®52i2; In 1892, to Nov. 18, Inclusive,
36i4®50i4.
Debt to U. S.— The U. 8. Supreme Court decided that the payment of
interest on the U. S. loans was not obligatory on the compauios till the
principal of the bonds became due. Afterwards Congress passed the
Thurman Act, May 7, 1878, wliich, for the Union PaciUc, provided that
25 per cent of the net earnings, after deducting interest on the first
mortgage bonds and construction and equipment expenditures should
be ajiplied annually to the interest and sinking fund of the debt to the
Government. On January 1, 1892, the sinking fund. Invested in RR.
and U.S. bonds, (par value) was $10,361,500, and the premium paid ob
bonds and cash uninvested was $1,912,625; total, $12,274,125. Th»
debt to the United States at that d.ite was thus stated: Principal,
$27,236,512 ; iuterest accrued aud not paid. $817.095 interest paid by
United States. $38,031,376; repaid by Union Paolflc, $13,454,951:
balance of interest paid by United States. $24,576,425. As to report of
Government directors in Septcinlier. 1892. see V. 55. p. 545.
Bonds. The U. P. guarantees either as to principal and interest, or a»
to interest only, certain securities of the f oUowing companies, full Information conceruiug which will be foun(? under tlieir respective heads
Oregon Short Lino & Utah Northern Oregon Railway & Navigation
(through guaranty of lease) St. Joseph A Grand Island ; Union Paoiflo
Deuver & Gulf, and Union Pacific Lincoln & Colorado.
Theoutstandiug bonds above are gi veu including the amounts owned by
company and pledged as part security lor its collateral trust notes of
1891. The .amounts so pledged are Omaha Bridge bonds, $5,«00; do.
renewal, $145,000; equipiueut trust. Series C, $671,000; collateral
trust, 4I2S, $237,000: Kausas Division and collateral bonds, $5,000,
000; $1,000 Denver Extension bonds.
The Union Pacific collateral trust 6s are limited to 80 per cent of the
following bonds Omaha & Republican Valley RB.. $911,000; Colorado
Central RR. bonds, $1,84.").000 Utah Northern RB.. $2.093,000 total,
$4,849,000. The collateral trust 5s of 1883 are secured by the following
bonds: Colorado Central BR., $1,235,000; Utah cfc Northern RR.. $1,
974.000; Omaha & Republican Valley Railroad. $605,000; Omaha <Sc
Republican Valley Railwai/, $1,910,000; Utah Southern RB. extension,
$83,000; total. $5,807,000.
The collateral trust bonds of 1889 on Deuver Leadville & Gunnison
Railroad (fonnerly Denver South Park & Pacific) are secured iiy mortgage bonds ou that narrow-gauge road at $11,000 per mile, $22,200 per
There is a siuking fund, but
mile being authorized for extensions.
bonds cannot be called. Company's stock is owned by Union Pacific.
The Kansas Pacific bonds above are given less the amounts of eaob
class held by the trustees of the consolidated mortgage. The consolidated mortgage trustees are Jay Gould and Russell Sage, and
they held In trust on January 1, 1892. the following bonds of the
Kansas Pacific, making $0,786,850 in all, viz.: Leavenworth Branch,
$582,000; income (uusubordinated) bonds, $241,200; income (sutordf
nated) bonds, $3.992.050 Cheyenne Branch. Deuver Pacific bonds. $1,974,000. They also held $183,000 U. P. collateral trust notes and
$1,980,500 of the stoclcs and $3,160,000 ol bonds of companies controlled by the Union Pacific.
The Kansas Pacific consolidated mortgage covers the road from Kansas
City to Denver, and branch, 673 miles, subject to the divisional bonds
(to retire which suilicieut bonds are held) and the United States lien.
In April, 1891, a new loan for $20,000,000 of 5 per cent bonds waS'
authorized, to be called the Kansas Division and Collateral Mortgage,
but these bouds were only hypothecated as collateral.
The collateral trust gold notes due Aug. 1, 1894, were issued In
August, 1891, at 9212, to fuud the floating debt of over $19,000,000.
The total authorized amount of these notes was $24,000,000, but
prior to Novemlier, 1893, only $18,530,000 of these had licen issued,,
and of this amount $1,4 13,000 had been retired through sale of collateral.
A lull abstract of the trust deed was giveu in V. 53, pp. 528-531
The stocks deposited carry the control of all the most imimrtant
branches of the system. The notes are redeemable at the company's
option at par on 30 days notice, and are issued In denomiuationB
of $1,000 tor the coupon notes and $10,000 for tlie reeistered. A condeused list of the collateral as It stood Jan. 1, 1892, when $18,293,000
of the notes were outstanding, was in Sui'i>lement for September,
1892. Since then the reduction of the outstanding notes has been aocompanied by diminution lu the collateral.
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:
;
;
:
NOTtMBEB,
1892.]
BAILROAD STOCKS AlfD BONDS,
141
.
.
:
149
;
:
SUPPLEMENT.
INYEST0R8'
Subscribers
;
[Vol. LV.
confer a great favor by Kivlns Immediate notice of any error discovered In tbese Tables.
Uond«— PrnTolINTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Dne.
Amount
For explanation of column headings, &o., see notes of
of
Par
Outstanding Bate per When Where payable, and by Stocks— IjCLBt
on first page of tables.
Road. Bonds Value.
Cent.
Payable
Whom.
Dividend.
irlll
KAILKOADS.
Vnion Pacific.— (Concluded.)
i.Kan. Pao. 2d m. (to U.S. Gov.) on 394 m.W.Mo.K.
l«avenwortU Br., Ist M. ($582,000 in trust)
Denver Pacific, Ist M. gold (i}!1.971,000 in trust)
Denver Ex. 1st M., 2,102,000 acres, gold. .o*&r
Income mortgage ($242,450 held in trust)
o
Income M., suhordlnated. $3,992,650 held In tr.
Cons. M. for$30,000,000, 1. gr. gold, not dr'n. .0*
Cn. Pac. Kansas Dlv. and Col. Trust bonds
U. Pac. collat. trust gold notes for$24,O00,0O0.cJtr
Vnion Pacific DenveritOidf—BtOQ:k for $36,000,000
Colorado Central Ist mort., $15,000 per
c
Denver Marshall & Boulder Ist mortgage
Denv. Tex. & Ft. Worth Ist M. ($20,000 p.m.)g.c*
Denver Texas & Gulf 1st M. ($20,000 p. m.)g..cAr
U.P. Den. & GiOf con. M., gold, sub. to callat 105.c*
Ft. Worth &Denv. City Ist M., $18,000 p. m., g.c*
Vnion Pacific Lincoln <e Ooiorarfo— Stock
Ist M. ($20,000 per mile), gold, guaranteed. .o*
Vnited N. J. Xli. <t Canal Co.— Stock, 10 p. o. guar.
'
feWenerar Bter. 'loan, s. f $36,920 yr. not dr.,g.o
Mortgage
do do do $36,000 yr. not dr.,g.c
of
1871 cur. loan, s. f. $40,000 yr. not dr'n.r
(now Ist loans of 1901, gold
o
mort.) se- loan of 1908, gold
r
oures all loan of 1923, gold
r
equally. ) loan of 1929, gold
o&r
.
. .
m
. .
.
394 1865-7
32 1866 $1,000
106 1869
1,000
236 1869
1,000
427 1866
50 &o.
427 1866
675 1879
1,000
1891
....
1891 l,000&o
100
328 1879
1,000
30 1886
1,000
165 1887
1,000
138 1887 l,000&o
824 1890
1,000
450 1881
1,000
225
1888
1,000
100
«
1869
» 'S 1871
1871
S g '73-'76
=
1
1878
OO
1883
1889
£200
200
1,000
1,000
1,000
1,000
1,000
6
$6,303,000
18,000
7
4,000
7
5,887,000
««•
21,250
19,000
7
12,470,000
!«•
hypothec'ted
17,117,000
6g.
31,151,700
"?'
4,701,000
226,000
5
869,000
1,153,000
15,698,000
8,176,000
6g.
2,184,800
"5g.
4,479,000
21,240,400 10 p. an.
1,846,000
1,800,000
!«•
2,000,000
5,669,000
841,000
5«1,824,000
4 g.
6,020,000
4g.
A N.
& N.
& N.
& a.
& S.
& N.
& N.
F. & A.
J. & J.
J. & D.
M. & N.
A. & O.
J. & D.
J. & D.
A. & O.
Q.-J.
M. & a.
M. & B.
A. & O.
M. & a.
M. & a.
F. A A.
M. & a.
M.
M.
M.
M.
M.
M.
M.
N. Y., Un. Tr.
4 Boston.
do
do
N.Y.,Lond'n & Frankf t.
N. Y., Bk. of
1895 to 1897
Jan.
May
May
Commerce. July
do
do
July
& Boat. May
N. Y., Drexel, M. & Co. Aug.
N. Y., Un. Trust & Boat July
N. Y., Un. Trust
do
do
do
do
do
N.Y.,
Phlla.
do
do
do
do
do
June
Nov.
Apr.
Deo.
Deo.
Union Tr. A Best. Apr.
and N.Y., Offices. Oct.
Lond'n, J. B. Morgan & Co Mch.
do
do
Philadelphia, Penn. KB.
do
do
do
do
do
do
do
do
1, 189ff
1, 1899'
1, 1899
1, 1918
1, 1916
1, 191»
1,
1894
1,
1,
1,
1,
1,
1,
1909
1916
1937
1937
1939
1921
1,
1918
1892
1894
1894
1894
1901
1908
1923
192a
11,
1,
Mch. 1,
Oct. 1,
Mch. 1,
Sept. 1,
Feb. 1,
Sept. 1,
Land Grant.— The proceeds of land sales on the Union Paclflo main
Organization.-This was a consolidation in April, 1890, of the DenUne are apj)llcable to the sinking fund mortgage 8 per cent bonds. On ver Texas A Fort Worth and several Union Pacific lines. It Is conthe Kansas Pacific the cash Income from land belongs to to the consoli- trolled and operated under traffic contract by the Union Pacific,
dated and the Denver Extension mortgages. On January 1, 1892, the which guarantees the Denver A Gulf enough business to pay interest
company had In cash and in land contracts from the Union Paclflo and taxes. See V. 49, p. 720.
grant the sum of $5,453,439, and the Interest to accrue on land conStock.— Capital authorized $36,000,000, of which $31,759,082 had
ttaots was estimated at $1,150,000. On January 1, 1892, the Union
been Issued on January 1, 1892, $13,251,882 of this being owned by the
Paclflo lauds unsold were 2,986,000 acres, estimated at$2,344,000; the
Union Pacific Company and $3,406,800 by the company itself. In adKansas Pacific lands unsold, 3,161,000 acres, estimated at $10,100,500, dition the
stock of constituent companies outstanding on January 1,
this last including 2,102,000 acres, valued at $5,340,000, covered by the
is
Denver Exten. mort. Lauds, from the 380th mile westward, are covered 1892, amounted to $2,078,010. In the table above the stockThegivea
as reported by the N. Y. Stock Exchange on Sept. 20, 1892.
comfirst by the Denver Extension mortgage (covering 394th to 639th mile),
pany holds in its treasury $7,766,000 of the capital stock of $9,375,000and all the lands of the Kansas Pacific by the consolidated mortgage.
of the Fort Worth A Denver City Railway Co., which see.
Finances, &c. —The company for a number of years extended rapidly
Bonds.—The consolidated mortgage provides for bonds at $25,000 per
and built and acquired much new mileage, but under the express mile
of single and $35,000 per mile of double-track of completed railcovenants of the trust deed securing the collateral 6 per cent gold
notes no extensions can be made, no leases or guarantees of any kind way (and for further amounts on the pledging with the trustee of certain securities), sufficient bonds being reserved to retire the divisional
assumed, no bonds Issued, extended or endorsed upon any part of the
system without the unanimous consent of a committee consisting of J. bonds at or before maturity. There is no sinking fund for the consols,
Pierpont Morgan, John A. Stewart, Edward King, F. A. Ames and but the whole issue as an entirety is subject to call tor payment at 105
on any interest day after six weeks' notice. These bonds are indorsed
A. E.Orr. V.55, p. 545.
with the Union Pacific's guaranty of interest. See abstract of mortLatest Eaknivgs.—Fi'om Jan. 1 to Sept. 30, 1892 (9 months), the gage in V. 51, p. 244.
earnings of each division and of the " Union Pacific System " and also
The amount of consols outstanding In the table above Is that rethe grand total for all lines operated were as follows
ported by the N. Y. Stock Exchange in Sept., 1892. The Union Paclflo
report for 1891 gave the total outstanding January 1, 1892, as $15,Gross Earnings.
Net Earnings.
526,000. of which the Union Pacific Co. held $7,330,000 and the comJan. 1 to Sept. 30.
1892.
1891.
1892.
1891.
Oregon S. L. & U. N
$5,291,968 $5,621,903 $2,105,784 $2,159,061 pany Itself $1,027,000.
See U. P. for the securities of this company pledged as security under
Or.Ry.&N. Co. rail lines.. 3,238,373 4,026,236
822,642 1,285,328
Union Pac. Denver & Gulf 4,264,175 4,131,306
989,890
979,986 U. P. trust deeds. The floating debt Jan. 1, 1892, was $1,217,296.
8t Joseph A Grand iBl'd.
894,210
616,354
324,127
109,993
Earnings.-From Jan. 1 to Sept. 30, 1892 (9 mos.), gross earnings
All other Unes
17,287,59615,913,611 6,968,693 5,681,668 $4,264,175, against $4,131,306 in 1891; net, $989,890, against $979,986.
Report for 1891 was In V. 54, p. 719, showing results as follows, the
Total "Un. Pac. Sys.".. 30,976,322 30,309,410 11,206,136 10,216,034 Income from the Fort Worth A Denver City not bein;^ included In the
Cent. Br. and leased lines.
978,053
563,807
357,683
94,203 gross and net earnings, but the profit from Its operations being added
^ Roads Jointly owned.. 434,556 292,181
80,990
28,390 to get the final result.
1891.
1890.
Grand total of all
32,388,931 31,165,398 11,644,809 10,338,627 Average miles operated
983
927
Gross earnings
$3,732,244
Annual Report.— Fiscal year ends Deo. 31. Annual meeting in Bos$3,738,573
ton last Wednesday in April. Report for 1891 at considerable length Neteams.,afterdeduct. taxes Aoper.exp.
$656,99S
$809,901
In Chronicle, V. 54, p. 719, 722 see article p. 705.
81,539
Add income from Investments, Ac
70,861
On the " Union Pacific System" proper, operations were as follows Guaranty account
464,089
.
—
—
,
.
.
;
1889.
Average miles operated..
7,389
Passengers carr'd one ml. 355,822,732
Kate per pass'gr per ml.
2-414 cts.
*Tons carried one mUe.... 1,950,241,673
*Kate per ton per mile...
1-405 cts.
Gross earnings
$39,669,600
Operating exp and taxes.
26,013,551
1890.
7,668
342,481,860
2-477 cts.
2,192,287,955
1-343 cts.
$42,699,588
29,160,278
$12,238,084
71-57
$13,539,310
68-29
.
Net earnings
P.
c.
of op. ex to earn
1891.
7,562
399,664,486
2-336 cts.
2,115,988,741
1-381 cts.
$43,049,248
30,811,164
$13,656,049
65-58
The company's income account. Including
was as below
results
on
all lines oper^
Net earnings
Cent. Br'ch U.
P net earn.
Investments out. of ays..
Int. on 8. F. 8 p. c. bonds.
Int.on K.P.con.bds.rep'd
Miscellaneous
$880,762
$821,325
148,353
81,604
$1,202,620
$1,202,620
$1,051,282
$170,521
275,292
Total payments
Balance, deficit
Profit on Ft. W. A D. C. operations
$1,229,472
26,852
$26,852
64,735
Surplusfor year
$104,771
$37,88*
—(V. 51, p. 143, 193, 244; V. 52, p. 6T9 V. 54, p. 719.)
ITnlon Pacific Lincoln ic Colorado.—Owns from Sallna to
junction with the Kansas Pac. Ry. at Oakley, Kan., 225 miles. The bonds
are guaranteed by Union Pac., by endorsement; trustee of mortgage 18
the American Loan A Trust Co., of Boston sinking fund of % of 1 per
cent yearly, but bonds cannot be drawn. Union Pacific owns all the
stock except what is held by certain counties in Kansas. In 1891 gross
earnings, $211,964; net over taxes, Ac, $107,509 (against $48,326 la
1890) traffic guaranty, $116,350; total net Income, $223,950 Interest, $223,950, and sinking fund, $30,053 balance, deficit, $30,053,
against $86,601 in 1890. (V. 47, p. 490, 803.)
;
ated,
1889.
Total Income
Interest on bonds
Rental of track
Discount, interest and miscellaneous...
$13,656,049
163,554
482,180
1890.
$12,238,084
115,989
606,539
145,855
381,300
93,946
1891.
$13,539,310
168,818
837,151
244,720
377,100
172,955
;
;
;
Total receipts
$14,447,638
Interest on bonds
$9,333,949
Sinking fimds
907,982
Dlv. onO. Ry. AN. stock..
1,095,114
292,950
169,321
96,042
82,506
339,003
$13,435,856
$15,340,054
$9,604,496 $10,191,682
1,064,489
1,087,901
651,820
591,951
731,184
687,469
65,714
4,032
15,007
377,417
257,252
147,045
161,495
Total disbursements... $12,316,867
Surplus
2,130,771
United States requirements
1,155,007
$12,657,172 $12,981,782
778,686
2,358,272
1,053,723
1,293,230
Discount and interest
Discount on bonds sold, Ao.
Loss on roads op. jointly..
Misc. Inol. N. P. Ter. Int
ProfltandloBS
;
United
New
Jersey Railroad
& Canal
Co.— (See map Penn-
tuloania B. B.) Controls an important system of roads in Northern
New Jersey, having a line from New York to Plilladelphia, another
from Perth Amboy to Camden, opposite Philadelpliia, and branches to
Long Branch, Berkeley, etc., N. J., and to Mauunka (jhunk, Pa. Total
mileage 450 miles. The principal lines owned directly are from Jersey
Caty to Trenton, 56 miles, and from Camden to South Amboy, 61 miles ;
9 branches, 29 miles total (owned directly) 146 miles. Also owns the
Delaware A Raritan Canal, 66 miles. Among the lines leased are the
Philadelphia & Trenton and the Belvldere Delaware— which see.
Lease.— Leased in May, 1871, to the Pennsylvania Railroad for 999years, at a rental of 10 per cent on the stock, besides Interest on bonds.
Pennsylvania Railroad owns $1,350,000 stock.
Bonds.—The general mortgage of 1871 is for $20,000,000 (trustee,.
Fidelity Insurance Tiust A Safe Dep. Co. of Philadelphia) and secures
equally all the bonds in tlie table, though issued at dilierent dates. The
68 due in 1894 were plain bonds merely until secured by this Indenture
Earnings.- In 1891 gross $18,995,592; net, including income from
Investments, $4,587,22(1, against $5,134,976 in 1890. Net loss to lesseeIn 1881, $302,864; in 1882, $508,759; in 1883, $635,914; in 1884..
$593,536; in 1885, $159,496: in 1886, $179,016; in 1887, $227,991
to 1888, $160,501; in 1891, $276,455. Net itroflt in 1889, $138,712;
In 1890, $396,885. Sinktog funds December 31, 1891, held seourltleB
of par value of $4,343,000 and cash uninvested $91,318.
;
Balance
Sur.$975,764 Def. $275,037 8ur.l,065,042
—(V. 52 p. 535, 659, 6T8. 681, 899, 939, 940; V. 53, p. 157, 187, 290,
368. 436, 475, 528, 570; V. 54, p. 526, 561, T06, 719, T*a, ISS.)
ITnlon Pacific Denver &. Ou\t,—(See ifap.;—This company's
road extends from Cheyenne, Wy., to Orin Junction, 154 miles; Denver
toBes.semer Junction, Col., 129 miles; Trinidad, Col., to Texas State
Line, Tex., 137 miles; La Salle, Col., to Julesburg, 151 miles; branches
(89 miles of which narrow gauge), 305 miles; total, 876 miles. Trackage, Denver A Rio Grande, Gulf Junction to Trinidad, 92 miles, and
branches, 16 miles. Controls Fort Worth A Denver City RR., Texllne,
Texas, to Fort Worth, 455 miles, and Pan-handle Railroad, 15 mUes,
making a grand total In system of 1,454 miles.
,
N OTBMBEB,
1898.]
RAILROAD STOCKS AND BONDS.
143
,
;
.
SUPPLEMENT.
INVESTORS'
144
a
'
;
.
[Vol. LV.
Subscribers will confer a great favor by slving Immediate notice of any error discovered In tliese Tables.
Bojm/s— Prlnol
INTEREST OR DIVIDENDS.
RAILROADS.
pa^When Due
Miles Date Size, or
Amount Rate per When Where Payable, and by Slocks— ha,Bt
of
Par
of
headings, &o., see notes
For explanation of column
Outstanding
Dividend.
Whom.
Payable
Cent.
Road. Bonds Value.
on first page of tables.
UHca rjuM.aSusq. rol.— Stook,6p.c.j;u. bvD.L.&W.
—
TTHca Clinton <£ Bingh'ton 1st M., guar. D. & H. .c
Valley (N. F.;—Stock, 5 p. 0. guar, by D. L. & W.
Ist mortgage (for $.500,000)
Yalleif (Ohio)— 1st mort.. Clove, to Canton, gold..o'
Consol. mort. ($4,000,000) gold, s.f., not dr'u.c*&r
Valley (Virmnia)— 1st mortgage for $1,000,000 e
Vermont d Jfass.—Stock, 6 p. c. guar, by Fitcbburg
Bonds, not mortgage (guar, by FitcliburgKR.).c*
Vermont Vallei, of 1871—Stock
Ist M., with $500,000 Sul. Co. RR. stock as coL.o*
Ticks. Shrevep. A Paeiflc—Prior lien mort., gold, .c*
c*
Ist mortgage, gold
c*
3d M. and 1st H. on land, $2,500,000, gold
Inc. bds.. non-eum. (there are also $127,000 old 6s)
Va. lfid;'rf—St'ck($4, 524,233 owned by R.&W.P.T.)
Mort., Istser., IstM. Alex.toGordon8v.i.tbr.,97m.
2d series, Ist mort.. Chariot, to Lynch., 60 m.).
3d series, 2d lien on 60 mUes; 3d on 97 miles...
4th series, 4 per cent till March 1, 1901
5th series, 1st on 115 miles
.
.
.
Gen. mort, int. guar.' by'R.'& d1, $i2,5'66i6o6.'o*
General mort., prin. and int. guar. (endor8ed)gold
Charlotev.& Rapid, (i'sed) IstM., s. f.,dr'n at lOO.o*
Virginia dt Truef. ee Stock
1st mort. (North Mo.)
St. L. K. C. <fc No. 2d M., real estate and railway . c
c
3t. Charles Bridge 1st mortgage, gold
—
Wabath RR.—St. L. K. C. & No.
.
2d mortgage
97
31
12
12
59
83
62
59
"50
24
188
188
188
97
157
157
157
272
75
347
347
28
354
373
$100
1889
1,000
100
18.81
1879 lOO' Ac.
1,000
1881
1881
1,000
100
1883
1,000
50
1880
1,000
1885
1,000
1881
1,000
1886
1,000
1887
'ioo
1881 100 &0.
1881 100 &c.
1881 100 &c.
1881 100 &c,
1881 100 &c.
1881
1,000
1886
1,000
1,000
1886
1879 100 &e.
1865
1874
1878
1878
i',6'oo
1,000
1,000
100
$4,000,000
800,000
750,000
400,000
1,600,000
2,400,000
750,000
3,193,000
1,000,000
1,000.000
800,000
1,323,000
4,000.000
2,045,875
494,860
6,000,000
600,000
1,900,000
1,100,000
950,000
1,775,000
1,310,000
2,392,000
2,466,000
421,700
5,000,000
6,000,000
3,000,000
1,000,000
388,500
6 per an. M.
5
J.
5 per an. J.
5
F.
J.
6g. M.
A.
6
6 per an. A.
5
M.
6 per an. J.
A.
5
6 g. M.
6g.
J.
4-5 g. J.
& N. N. Y., Del. L. & W. RR. Nov. 1, 1892
& J. N.Y., Security &Tr. Co. July 1, 1939
& J. N. Y., Del. Lack. & West July, 1892
Aug. 1, 1911
do
do
& A.
& D. Dec.,'91 coup.last paid. June 15, 1906
& 8. Mar.,'92, coup. last paid. Sept. 1, 1921
& O. N. Y., Merc. Tr. &Balt Oct. 1, 1921
& O. Bo8t.,53 Devonshire St. Oct. 8, 1892
& N. Boston, Fitchburg RR, May 1, 1903
July 1, 1892
Bellows Falls.
& J.
& O Boston, 8. Dep. & Tr.Co. Oct. 1, 1910
& N N. Y., Central Trust Co. Nov. 1, 1915
& J. N. Y., Farm. L. & Tr. Co Jan. 1, 1920
& J. N. Y., Central Trust Co Jan. 1, 1916
,
Jan.
4
"e
M.
M.
6
M.
6
4-5
M.
M.
5
M.
5
M.
5
5g. M.
6
J.
7
7
J.
m
M.
A.
A.
&
&
&
&
&
&
&
&
&
&
&
&
&
S.
S.
8,
8.
S.
8
N.
N.
1920
1,
N. Y., Central Trust Co. Moh. 1, 1906
do
do
do
do
do
do
do
J. Phlla. Tr.
&
do
do
do
do
do
do
do
Mch.
Mch.
Mch.
Mch.
Mch.
May
May
Safe Depos. July
1911
1916
1921
1926
1931
1936
1936
1913
1,
1,
1,
1,
1,
1,
1,
1,
(»)
J.
a.
O.
O.
N. Y., Bk.of Commerce.
do
do
do
do
do
do
July
1899
1895
190e
1903
1,
Sept. 1,
Oct. 1,
Oct. 1,
Utlca, of which 51 miles, Strasburg Junction to Harrisonburg, is leased to th 9
Baltimore & Ohio (in perpetuity at B.& O.'s option for $89,250 yearly)
branch to Richfield Springs, 22 miles
to Delaware and 9 miles to Chesa. & O., leaving 346 miles operated.
total, 97 miles. Road opened October, 1872. Leased
Lease. -In April, 1886, leased to the Richmond & Danville on the
liBckawanna & Western at 6 per cent on stock. Has no bonded debt.
basis of a payment of the fixed charges and tlie payment by the lessee
Utica Clinton ic Blngliamton.— Owns from Utlca, N. Y., to of any balance of net earnings to the Virginia Midland Company. The
Bandallville, N. Y., 31 miles. Leased during continuance of charter lessee may if it chooses advance the money for interest on the six series
and renewals thereof to Delaware & Hudson Canal Company, which of prior bonds, if earnings are iusutficient, but guarantee!, positively
Ontario
Says rental of $61,500 per anmun. Operated by the New York to Utica the general mortgage iuterest. The Richmond Terminal Co. owiM
Western. The street lines owned by the company are leased
$4,524,233 stock, mostly pledged imd«r trust deeds.
Belt Line Street Railroad Company for $15,000 per annum. Capital
In June, 1892, the Richmonil & Danville and the Richmond Terminal
Btock, $849,285 (par $100), of which city of Utica holds $200,000, with were placed in receivers' hands (see those companies), but interest on
interest guaranteed 5 per cent, the balance paying 1 % per cent.
the Va. Midland bonds has been paid on demand.
and 5
Bo.NDS.—
Valley (N. Y.) Railroad.— Owns from Binghamton, N. Y., ts thereafter. The fourth series bonds bear 4 per c't till Mar. 1, 1901,
Of the $12,500,000 general mortgage bonds, $7,635,000
BtateLineof Pennsylvania, 12 miles. Opened October, 1871. Leased to
were held to retire the serial bonds, also enough for the Incomes. See
Delaware Lackawanna & Western at 5 per cent per anmun on stock,
abstract of mortgage, V. 47, p. 23. Part of the general mortgage bonds
the lessee assuming the interest on bonds
bear the endorsed guarantee in gold as to principal and interest of the
Valley (Ohio).— Owns from Cleveland, O., to Valley Junction, 0.,75 Richmond & Danville. The unstamped bouds are currency bonds, but
miles, and 13 miles of small branches. lu June, 1892, the company nidy be stamped payable in gold on a payment of 2ia per cent.
being financially embarrassed, Henrv M. Keim and J. K. Bole were
Earnings.— For the year ending June 30, 1890, gross $2,274,383
appointed receivers. V. 54, p. 1011; V. 55, p. 23. Of the $2,400,000 net, $719,219; surplus over charges, $21,951. In 1890-91 gross. $2,consols, given above as outstanling, $876,000 on March 1, 1892, were 395,929; net, $906,548; sur. over charges, $163,029.— (V. 53, p. 843.)
pledged as collateral for loans. This mort. is a first lion on the Cleveland
Wabash Railroad.— Owns and operates an extended systiem
termmal property. On July 1, 1891, the report to the Ohio State BR.
viz.:
•Commissioners shovred funded debt $3,2 71,599; cun'cut liabilities, of roads, clearly shown on the accompanying map, as follows,
RIVER. OWNED WEST OF MISSISSIPPI RIVEB
Capital, $1,261,973; par,
Control
? 1,390,263. Baltimore & Ohio. Earnings in$50. $757,440 acquired in OWNED EAST OF MISSISSIPPI MUes.
MUes.
net, $216,1891,
889 by the
275
St. Louis to near Kansas City.
005, against $262,436 in 1890. Recelvtr's certificates for $40,000 are Toledo, O., to East Hannibal,
Camp Pt. and Elvaston, 111. 536 St. L. Levee to Ferguson, Mo. 11
to be issued for betterments. In September, 1892, certain of the first
131
mortgage bonilholders filed with the court a protest against fore- Decatur, ni., to E. St. Louis.. 110 Moberly to Ottumwa, Mo
16
Salisbury to Glasgow, Mo
June, near Chicago to ElHngolosure. (See V. 55, p. 178; V. 54, p. 1011 V. 55, p. 23, 178, 422.)
216 LEASED WEST OF MISSISSIPPI RTVEB.
ham and Altamont, HI
Valley (Virginia).—Owns from Harrisonburg to Lexlngton,Va., 62 Streator to Fairbm'y
80
31 Brunswick to Pattonsb'g,Mo
miles. By this and connecting lines under Baltimore & Ohio control, Edwardsville to
21
Centralia to Columbia, Mo...
Edwardsthe distance from Lexington is 243 mUes to Baltimore and 217 mUes to
ville Crossing, 111
8
Wasiiiugton. The Baltimore & Ohio owns $1,020,000 stock and the Delrey,near Detroit, to Butler 110
Owned & leased W. of Miss 533
Olty of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839
(par, $100). In year 1890-91 gross earnings were $159,470 net, $42,Tot. cov'r'd by 1st & deb. M. 1,544
1,012
Total
185. In 1889-90 deficit under interest, $18,100.
TRACKAGE, ETC.
123
EAST OF MISSISSIPPI RIVER. Laketon June, to Clilcago
Vermont Sc Massachusetts.—Line of road, Fitchburg to Green" LEASED RR., Butler to Lo8 short pes. into Quincy, Demiles; brfinch, 3 niUes. The road is leased to the Fitcli" Eel River
fleld, Mass., 56
92
troit,&c.,(18m.beiugown'd)
gansport,Ind
94
burg RR. for 999 years at 6 per cent on stock. The lessee to September
70
Operat'd for Purchasing Com.
30, 1892, had invested $1,544,526 in improvements for this road.
6
Mays V. to Plttsfield (leased) ..
The following is a statement of
Vermont Valley of 1871.—Owns from Bellows Falls to Brattle lines owned and leased west of the
1,930
Grand total operated
Mississippi and of trackage, &c.
boro, Vt., 24 miles and by ownership of stock the Sullivan County RR
trora Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Controlled
History, Organization, &c, The Wabash St. Louis & Pacific, which
dn the interest of the Connecticut River RR. The N. Y. N. H. & Hart. was a consolidation in 1879 of the Wabash Railway and the St Louis
owns $249,700 stock. The SuUlvau County RR. stock of $500,000 is Kansas City & Northern, was sold in foreclosure in 1889, tills company
deposited as additional security for the above mortgage bonds. Divi- being organized on July 12, 1889. For outUne of reorganization plan
In 1881, 412 per cent; in 1882, 4; from see INVESTORS' SUPPLEMENT up to January, 1889.
.dends since 1880 have been
1883 to June, 1892, both inclusive, at the rate of 6 per cent yearly.
The Boone Co. & BooneviUe RR. is leased tlU May, 1973. The BrunsProm Jan. 1 to Sept. 30, 1892 (9 months), gross earnings, $152,150, wick & ChUlicothe was leased to St. Louis Kansas City tfe Northern for
.against $140,154 in 1891; net, $56,456, against $49,077.
999 years. Its bonds bear 6 per cent interest tiU August 1, 1900, then
Vlcksburg Shreveport Sc Paciflc.—C-See Map Cincinnati New 8 per cent tiU maturity. On AprU 1, 1887, the Eel River RR. was
Orleans A Texas Paciflc.J— From Delta, La., on Mississippi River, to leased for 99 years (Seethat company). Entrance to Chicago is secure*
flhreveport, 170 miles, and extension to Texas State Line, 18 miles over the Chicago & West Indiana, of whose stock this company ow»s
(the latter leased to Texas & Pacific); total, 188 miles. The old Vlcks- $1,000,000.
burg Shreveport & Pacillc Road was sold in foreclosure Decemtier 1,
The company has under eonstruction a road of its own from Montp»1879, and reorganized under present title. The stock is $1,601,500 (par ller, lBd.,to a iunctiou with the Chicago & Western Indiana at Hammond,
8100), of which the Alabama New Orleans & Texas Pacific Junction near Chicago, and has issued $3,500,000 bonds thereon. The annual
Eailroad Company holds a majority, together with $3,692,000 of the 1st rental for trackage between these points is now over $90,000, without
mortgage and $965,500 3d mortgage bonds. The 3d mortgage the right to local traiflo. The new road, taking local business into acbonds carry 4 per cent till 1894, and thereafter 5 per cent. count win, it is believed, earn more than its iuterest charge of $175,00#
Net proceeds of land sales go to payment of interest on these per anmun. See V. 54, p. 289, 1048; V. 55, p. 50.
4>ond8 if necessary, otherwise to sinking fund no bonds drawn (see V.
Capital Stock.—The capital stock is $52,000,000, of which $24,000,43, p. 104). Lands unsold June 30, 1892, were 221,888 acres. Trustees 000 is preferred, having a preference of 7 per cent per annum no»of prior lien mortgage and of 3d mortgage. Cent. Trust Co.; of 1st mort.
cumiUative, and $28,000,000 is common par both, $100.
Farmers' Loan & Trust Co. Car truste June 30, 1892, $64,284, due
Price of Stock.— Common in 1890. S^SW; in 1891, SH^IS; In
1894. Coupons due«ind impaid to Juno 30, 1892, 1st mortgage, $859,- 1892 to Nov. 18 Inclusive, lOaiS^s•920 3d mortgage, $233,452. Nov., 1891,final payment of $5,000 was
Price of preferred- In 1890, ISaSlia; in 1891, 16''8a34i3; 1892, to
made on coupon of this mortgage due July 1, 1888.
Nov. 18, Inclusive, 223433312.
Latest Eakninos.— From July 1, 1892, to Sept. 30, 1892 (3 months),
Bonds.- Abstracts of the mortgages of 1889 were lu V. 49, pp.
^088 earnings were $124,200, against $141,272 in 1891; net, $9,000, 270-273. The fii'st mortgage covers lines both east and west of th»
Mississippi, and enough bonds are retained to retire the prior liens om
.against $22,000.
Ann'oal Repokt.— Fiscal year ends June 30. Report for 1891-92 roads west; but the second mortgage covers only lines east of the river,
1,012 miles. Of the debenture mortgage bouds $3,500,000
was in V. 55, p. 804, showing gross $632,870; net, $153,883 income as above, A (preferred in respect to interest payments only) and $28,from land sales, etc., $44,741 interest paid, $399,557; miscellaneous, are series
500.000 series B. The series "A" bonds received 6 per cent interest i>
5,410; balance, deficit, $199,933. In 1890-91 gross, $636,681; net,
1890 iu 1891, 6 in January, 1892, 3 per cent July, 3 per cent.
f 157,264. (V.51, p. 303; V. 53, p. 639; V. 55, p. 543, 804.)
The Detroit & Chicago Extension bonds cover the now line being
Virginia Midland.— C See Map of Ric/imond <t Danville).— hmm OF built from MontpeUer, lud., to a junction with the Chicago & Western
Alexandria to Oordonsville, 88 miles; Warrenton Branch, Indiana Railway at Hammond, near Chicago. The company agrees to
EoAU.— From
9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg to Dan keep the earnings of this division separately, and having paid therePittsviUe Branch, 9 miles Manassas Junctlou to Har- from the interest on these bonds, to apply the surplus earnings in any
ville, 66 miles
risonburg, 114 mUes (of wlilch 51 miles leased to Baltimore & Olilo)
year up to an amount equal to 2 per cent of the lionds outstauding, to,
email l>ranches, 9 miles; total owued, 348 miles. Leases: Charlottesville sinking fund for the issue, the liouds to be purchased or drawn by lot
& Bapidan Railroad, Orange Court House to Charlottesville, 28 miles and paid at 110; but no more than $70,000 bonds are to be redeemed in
Franklin & Pittsylvania Railroad (3 feet), PittsviUe to Rocky Mountain, any one year. Mortgage is for $3,500,000. Trustee, Central Trust
30 miles total leased, 58 miles. Total owned and leased, 406 mUes, Company. See full abstract in V. 54, p. 1049.
Utlca
Chenango
Sc
Snsquelianna Valley.—Owns from
K. Y., to Greene, N. Y., 75 miles
I
;
;
I
;
;
—
;
.
.
;
;
:
;
;
;
;
;
;
;
;
;
;
;
;
.
RAILEOAD STOCKS AND BONDS.
NovB^rBKB, ITOSJ
Snbiicrlbers ivlll confer a eroat favor
RAILKOADS.
by
&o., see note8
immediate notice of any error dlacovered In these Tables.
Bf<n</»— PMncIIKTERE8T OR DIVIDENDS.
Date Size, or
pal.Wli n DueAmount
of
Par
Outstanding Rate per When Where Payable, and by Sloclti—Uiuit
of
Road. Bonds Value.
Wabash— (Concluded) —
Wahash 1st M., gold, s.
544
012
038
t., not dr. <$34,000,000) .0
c
2d mortgage, gold
Deb. mort.,lnc., non-oum., series A, red. at par.
Do. do. series B, red. at par
,638
Chic. Extcn. Ist M., gold, red. at llO.o*
154
ilk
Leased Link Bonds—
& Omaha
1st mortgage.
Boono C(T. & Boiuicvillo 1st uiortKage, Int. guar..
Brunswick & Chillicotho l.'it mortgage, int. guar.
Wabiish Chester it Tre«<«r»— Ist mortgage
Wallkill r«//fy— 1st mortgage
Bt.
Louis Council Bluffs
2d molt gage
Ware ifiivr— Stock,? p.o.rental gnar. 999 yrs.B.&Al.
Warren (N. J^.J— Stock,? p. c. porp., guar. D. L.& W
2d mortgage, now Ist
1st consolidated mortgage
WestJerscii—SUw^k, :{tl2a,'250 is 6 p. c. "special"..
Ist M., cum.siuk. fd.$12,.500 yearly, not drawn.o*
0*
1st consolidated mo.-tgago
* Consolidated mortgage
r
o*
Ocean City RR. and Salem ER. bonds
Bwedcshoro Railroad bonds
o"
Woodstown & Swedcsboro 1st mortgage
Went Jersey d- A «(m(if— Stock
1st M.Newtleld to Allan. C, 33m. ,dr'n at 100. cAr
o&r
Plea.santville & Ocean City 1st mortgage
ir«(S/iore— 1st mortgage, guar, by N.Y.C.ifeHud.c4;r
Syracuse Ontario & New York Ist mortgage..
West Tiri/inta Central tt I'Msburg—SUmk
c*
1st mortg.agc, (.$25,000 per mile) gold
West Virginia <f i^««6.— Ist M., s. i. not dr'n, gold.O'
1889
1889
1889
1889
1801
42
22
18
1878
1,000
1873
1,000
1878 100 &0.
1888
1877
1877
100
is.Vs
50
1870
100
1875
"38
63
128
1866 500 &o.
1869 500 &0.
1879 500 Ao.
'li
11
1868 100 &o.
1882
1,000
50
1,000
1880
1880 100 &o.
1885 l.OOO&c
1883
1,000
100
1,000
1881
1890
1,000
38
49
18
18
"50
1,000
33
7
448
45
112
171
Obligations on Leased Lines other than on the bonds In the table
above are Eel River Railroad Co.— Annual rental charge, sfsoo.OOO per
1, 1887, to April 1, 1892; $75,000 per annum, April 1,
1892, to April 1. 1895; $90,000 per annum, April 1, 1895, and there:
Also $.500 per annum for organization expenses. Louisiana A
Pike County Railroad— Annual rental charge, $800.
General Fin,vnces. In June, 1892, the directors declared a
semi-annual dividend of 3 per cent on the debenture " A " bonds,
payable July 1. No action was taken on the " B" bonds. The Increa.sed tnilHo has involved increased expenses: a large amount has
been renuired for new eiiuipment, and the recent floods have further
augmonfcid expenses, so that there was no surplus available for a dlvldend-on the "B" bonds. V. 55, p. 23.
L.4TEBT Earnings.— From July 1, 1892, to Sept. 30, 1892 (3month8),
f;ross earnings were $3,936,871, agalivst $4,021,463 in 1891; net earnngs, before deducting taxes, .$1,087,337, against $1,124,848.
Annual EEroRT.— Fiscal year ends June 30. Annual meeting at St.
Louis second Tuesday in September. Report for 1891-92 at length In
Chronicle, V. 55, p. 460, 466, showing results as follows
after.
—
1891-92.
1890-91.
1,922
1,922
Passengers carried one mUe. 149,183,000 140,90-1,203 170,201,067
2-178 ots.
2-057 cts.
2130 cts.
Kate per passenger per mile
Freight (tons) car'd one mlle.1,430,197,332 1,209,179,055 1,390,510,161
0-733 cts.
0-705 cts.
0-647 cts.
Eate per ton per mile
Gross earnings
$13,352,872 $13,028,288 $14,389,331
$1,703,289
$1,936,902
Maintenance of way
$1,729,231
2,t!ll,5S7
2,S2G,39-2
Motive power
2,651,758
901,121
1,287,647
Maintenance of cars
1,175,185
4,349,225
4,781,586
4,117,047
Transportation and general.
1889-90.
1,922
From
to eam'gs.
rent of tracks, &c
$10,832,527
$3,550,804
72-58
388,618
Total net income
Taxes
Track, bridge rent., &c
Infst on bonds and rentals.
Div'nds on pref. debentures
Total
Net surplus
—(V. 52, p. 82, 499; V.
$9,673,221
$3,679,651
72-44
272,434
.$9,565,223
$3,952,085
$396,491
442,590
2,652,820
210,000
$3,835,805
$417,700
504,976
2,666,838
210,000
$3,945,422
$3,701,901
$250,184
Total opor. expenses
Net earnings
Per ct. oper. exp.
$3,799,514
$36,291
$3,853,946
$91,476
$3,463,065
7:!-40
372,740
$464„549
505,272
2,674,125
210,000
53, p. 22, 224, 257, 340, 36T, 368, 369, 437;
V. 53, p. 922, 969; V. 54, p. 34, 289, 968, 1048, 1049; V. 55, p. 23, 60,
422, 440, 460, 466, 504.)
216, 333,
'Western.— Cliester, 111., to Mt. Vernon,
-Wabanli Chester
Extension to Mt. Vernon, 22 miles,
111., 65 miles, and branch, 1 mile.
October, 1892. Stock, $
completed in
(1)
; par, $100.
J.— Line of road. New Hampton Junction to Delaware
Warren, N.
Bridge, N. J., 18^4 miles. The road is leased in perpetuity to Delaware
Lackawanna & Western at 7 per cent ou stock and bouds.
West Jersey.—Main line and branches—Camden to Cape May,
Bridgeton, Hiddleton, Sea Isle, Ocean City, .kc, 187 miles; West Jersey
A Atlantic Railroad, 40 miles; total, 227 miles operated.
Bonds and Stock.—.Sinking fund for bonds of 1896 is invested in company's bonds and bonds of the Pennsylvania system, and $756,100 were
so held January 1, 1892. Stock authorized, $5,350,000. The special
guaranteed stock Is exchangeable for common stock till Dec. 31, 1892.
Dividends since 1880— In 1881, 4: from 1882 to 1884, iueluslve, 3 and
3 scrip; from 1885 to 1887, inclusive, 6; in 1888, 6I2; In 1889, 1890
and 1891, each 7 per cent; in 1892, March, 313; September, 313.
Latest Earnings.- From Jan. 1 to Sept. 30, 1892 (9 months), gross,
$1,354,328, against $1,310,853 in 1891; net, .$380,923, against $374,181: interest, rental, etc., $170,765, against $189,068; balance, surplus, $210,158, against $185,113.
Annual Rei-ort.- Fiscal year ends Dec. 31. Report for 1891 was
Chronicle, V. 54, p. 642. Earnings, including leased lines, have been
&
m
1888.
Gross earnings
$1,.556,033
Total net Income....
529,250
Int srest, rental, &c.
289,407
Dividends
(6>s)
138,082
Balance, surplus.. $101,761
3.50 V 52, p. .5:J3
—(V 50 p
1889.
$1,5'26,169
1890.
$1,633,745
455,072
248,933
(7)148,217
5.;., 917
4.50,998
2.1,237
(7)118,217
233,552
(7)150,640
$.57,922
$123,463
54, p. 276, 648.)
$66,806
V
1891.
$1,658,090
AVest Jersey A. Atlantic—Owns Nowfleld, N. J., to Atlan-c City,
N. J., 33 miles Pleasautville & Ocean City RR., 7 miles; total, 40 miles.
Opened June 17, 1880, and operated by West Jersey RR. on a Joint
tralHc agreement and 25 i)er cent of gross receipts on West Jersey from
traflic of this road to be applied to auy dellcit in Interest and then as
sinking fund for bonds purcluisalile at 105, or drawn at 100, If over 105.
Last dividiiud was 2 per ceut iu Hepteml>er, 1890. lu 1891 net earnings were $26,322: Interest, etc., $20,333; balance, $5,989. In 1890
net earnings were $43,043.- (V. 54, p. 276.)
;
Cent.
$1,000 $22,681,000
1,000
14,000,000
3,.')()(),000
1,000
20,.') 00,000
1,000
1,000
3,500,000
annum, April
Average mileage
14S
glvlntc
Miles
For explanation of coUiiuu IiciuIIuks,
on tirst page ot tables.
Det.
;
:
626,000
100,000
304,500
300,000
250,000
330,000
750,000
1,800,000
750,000
600,000
2,204,600
1,000,000
1,000,000
750,000
200,000
200,000
90,000
904,850
190,000
80,000
50,000,000
1,100,000
5,500.000
3,000,000
4,000,000
Payable
whom,
Dividend.
& TH. N: Y., Central Tnwt Co. May 1, 198»
do
Feb. 1, 193»
4 A.
do
A J. N. Y., Company's Offlce. July 1, 193»
July 1, 193»
6
A J.
A J. N. Y., Central Trust Co. July 1, 1941
6
J. A J. N. Y., Bank of Com'erce July 1, 1908
do
do
May 1, 1908
7
M. A N.
6to8 F. A A. Bo8ton,Bank Rodemp'n Aug. 1, 1903
July 1, 1918
A J.
5
J.
7
J. A J. N.Y.,Of.,5VanderbUtAv Aug. 1, 1917
do
Aug. 1, 1917
7
do
A J.
7 per an.
A J. Boston, Best. A Alb.RR. July 2, 1892
W. HR. Oct., 1892
7 per an. A. A O. N. Y., Del. L. A
do
do
Oct. 15, 1900
7
A. A O.
do
Mch. 1, 1905
7
M. A S.
do
7 per an. M.
S. Phlla., Of., 233 8. 4tb St. Sept. 15, 1892
do
Jan., 1896
6
do
J. A J.
do
A. A O.
do
Oct., 1899
7
Nov. 1, 190»
6
M. A N.
do
do
do
1912 * 1925
4&5 F. & A.
do
Dec., 1898
7
do
do
J. A D.
May 1, 1912
6
M. A N.
do
do
See text. M. ab s. Phlla., Of., 233 8. 4th St Sept. 15,189»
6
M. A 8. Phlla., Jldellty I. T. Co. Sept. 1, 1910
6
J. A J. Phlla., Penn. RR. Offlce. July 1, 1910
4
J. A J. N. Y., Gr'd Cent. Depot. Jan. 1, 2361
1933
6
J. A D.
1
Yearly. Baltimore, Co.'a Offlce. Mch. 1, 1892
Bg. J. A J. N.Y., J. H. DaTls,ABalt July 1, 1911
5g- A. A O. N.Y., Farm. L.ATr.Co, Apr. 1, 1990
5g. M.
P.
l'-
J.
J.
J.
<St
West Shore.— CSc« Map yew York Central <t Hudson River.)— JAne
from Weehawken, N. J., opposite New York City, to Butfalo,
N. Y., with branches to Albany City and Rochester City, about 448 miles
In all. Also leased, and afterwards absorbed, the Syracuse Ontario
New York, Syracuse to Earlville, 45 miles. Successor in 1885 to th&
New York West Shore & Buffalo, sold In foreclosure.
Lease. Leased in 1885 for 475 years to the New York Central
Hudson and all earuings, &c.. Included in that company's report. The
$10,000,000 of stock is owned by the New York Central Company In
consideration of that company's guarantee of the first mortgage.
Bonds.— The West Shore mortgage of 1885 is inaile to the Union
Trust Com;[)any as tru.stee, and covers 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 boiuis of the Terminal Company. The guarantee of the New York Central & Hudson is absolute a»
to interest and principal and is endorsed on each bond. See abstract of
mortgage in V. 42, p. 176. In the consolidation with the SyracuseOntario & N. Y., that company's bonds " were not assumed as part of
the West Shore mortgage."
West VtrKlnla Central
PIttsbnrg.— A coal and railroad
company in West Virginia in the upiier Potomac region— the Elk GardenCoal Field. Owns road iu operation from Junction near Piedmont,
West Virginia, to Beverly, Randolph County, West Virginia, 90 mUes,
and Elkins to Bealington on B. AO. Railroad, 18 mlle^s; branches to
MineviUe, Elk Garden, .fcc, 17 miles; total owned, 125 miles. OperatesPledmout & Cuuilieriaud RR., Piedmont to Cumberland, 30 miles; total
operated, 155 miles.
History. Main line completed in 1889. Company owns 32,244
acres of coal and lumber lauds covered by the first mortgage and has
mineral rights on 5,407 acres more. E.xtensions southerly to Iron bed»
and easterly to Baltimore are projected. In 1892 tlie Baltimore die
Cumberland RR. Co. was organize*! In the interest of this company.
An important traffic contract was made with the Baltimore & Oulo in
1891 by which, upon the completion of connecting links, this road will
have an outlet to the lakes and all points West. V. 52, p. 204, 790.
ST,icK.— Stock authorized, $6,000,000, of which $5(50,000 was BtUl
in the treasury September 1, 1892. V. 52, p. 204.
Dividends.— In 1889, 1 per ct.; In 1890, 1; in 1891, 1; in 1892, Mch.,1.
Bonds.—First mortgage is for $3,600,000 to W. P. Whyte and the
Metropolitan Trust Co., as trustees. In January, 1891, the stockholders authorized the issue of tlie balance of the first mortgage bonds [lUk
also the stock] for extensions, etc.; but only $300,000 of the bonds had
been sold prior to October 5, 1892, makmg in all $3,000,000 outstanding. See V. 52, p. 204.
Latest Earnings.- From July 1 to Oct. 31, 1892 (4 months), gross,.
$360,355, against $375,039 in 1891; net. $114,776, against $120,818.
ANNUAL Rei'ORT.— Fiscal ycii'r changed to end June 30. For halfyear ending Juno 30, 1892, gross, $262,753; total net, $163,722; interest, $83,816; taxes, $16,175; balance, surplus, $63,730
lu 1891 gross c:irutngs of railro.ad wore $.594,084; net, $210,196;
profit from operating P. A C. RR., $ 1,823 protlt on coal s.iles, .$1)5,139;
total net earnings, $310,139; 1)ond interest, $151,050: taxes, $22,017;
balance, surplus, $131,095. In 1890 net profits (coal and rallroad)were $266,320; surplus over fixed charges, $101,325. H. G. Davis,.
Baltimore. President (V. 54, p. 485; V. 55, p. 723.)
W^est Vlrclnla tc Pittsburg.- CSe« ifap Baltimore <t Ohio.)—
Under contract to bo in operation in 1892, from (Clarksburg,
West Va., ou the B.oltlmore A Ohio, via Weston, southerly to a
point near mouth of Cherry River, on Gauley River, in Nicholas (bounty,.
West Va., 115 miles, (of which l^a miles is owned by B. A O. RR. Co.)
with branch to Braxton Court House, 6 miles; also from Weston via.
Buckhanuou to Pickens, In Randolph County, 30 miles; totiil, 171 miles,
of wliieli 109 miles have been in operation since July, 1891.
Lease.— Leased to the Baltimore Ji Ohio for 999 years, from Jan. 1,
1890. The rental is 62^! percentof the gross revenue. The remaining
stiais to bcapplledby B. & O. to payment of interest on bonds, thoi
B. & O. agreeing to advance any sums needed to pay this interest Im
For
full, such advances to bo a charge against future net earnings.
first two years of the operation of the road. If 62'2 per cent of the
revenue, and for next three yeais If 67^3 per cent of the same, does not
suffice to pay operating expenses, the W«fit Va. & P. make up the deficiency, .-ee V. 51, p. 718. In 1905 and at end of every ten years,
there.ifter rental may be altered by arbitration.
Bonds.-The first mortgage for $4,000,000 (trustee. Mercantile Trust.
Company of Baltimore) covers besides the ro.-ul and its efiuipinent
13 1,842 acres of timber, coal and mineral lands lu West Vlrgima. There
(See application in
Is a sinking fund, but the bonds cannot be called.
full for listing the bonds In V. 54, p. 725.) STOCK, common, *2,500,000;
preferred. .$900,000: par, $100. Preferred stock Is 3 per cent, noncumulative. KAUNiNo.s.—Fr.im January 1 to July 31 (7 mos.), 1S92»
gross, $176,610, against $87,396 In 1891. In year ending June 30,
1891, gross earnings were $128,688; net, .$63,492 President, J. NCamden. (V. 51, p. 718; V. 54, p. 721, 723.)
Western Alabama.—Line of Road—Selma to West Point, 138
miles. Sold M.ay 10, 1S75, in foreclosure and purchased tolntly by the
Georgia Railroad and Central Railroad of Georgia. From January 1 to
Aug. 31 (8 months) in 1892, gross earnings were .$303, 3:H, against
$312,839 in 1891. In 189(V91. surp over fl.xed ch.arges, ii-17,990. against
$99,420 ha 1889-90. Stock, $3,000,000 (par, $100), of which Centra) ot
Georgia and Georgia Railroad each owns $1,500,000.
of road
*
—
A
&
—
:
.
.
146
;
:
DTTESTOES' SUPPLEMENT.
SDbscrlbera
ivlll
[Vol. LV.
eonfer a great faror by glTlng Immediate uotica of any error discovered In tbese Tables.
Bon<i«—PrinciINTEREST OR DIVIDENDS.
MUes Date Size, or
Due.
Amount Rate per When Where Payable, and by pal, WhenlAeX
For explanation of column headln«;g, Ac, see notes
of
of
Par
Stocks—
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
RAILROADS.
Wufn
(Ala.)— Con. M.,g.,)fUrbyC.Ga. anaGa.RR.O*
Western Maryland— lut '& id prof. M's (1st M. end'd)
8d mortgage, endorsed bj; City of Baltimore
tth mort., in return for City of Baltimore stock.
6tli mortgage, held by City of Baltimore, sink'g f d
City loan
Bait. & Harris!). RB.; prior morts. see remarks...
Mortgage (for $090,000), gold
e
1st M. West. Ext. ($16,000 p. m.), gold, guar. .c*
Bait. A Cumb. Val., 1st mortgages (see remarks)
Western N. X. tt Pemisylvania^-BXocis. ($30,000,000)
Warren & Franklin Ist mortgage
West. N. Y. & Penn. let M., ($10,000,000), gold.o'
138
90
90
90
90
'72-'"79
32
15
34
670
50
630
630
.
2d mortgage (Ist on equipment, etc.), gold. .o*
2d mortgage, deb., inc., non-cum., red. at option
Income sc'p, convert, into d6bent.,red. atoption
Non-convert. Income scrip
West. No. Oar.— Istcon. M., g., ($1,273,000 guar.) .o'
2d consolidated mortgage ($15,000 per mile)
.
Western I'ennsi/lvania— lit mort. Blairs. to Butler.
1st mortgage, Pittsb. Br., Freeport to Allegheny.
Consol. M. ($5,000,000), gold, guar, by Pa. KR..C*
Wheeling <t Lake Erie Common stock
Preferred stock, 6 per cent, not cumulative
Ist mortgage. Lake Erie Division, gold
c*
Ist M. Wheeling Div., $ & £ (2d on 187 miles). .0*
Toledo Belt Railway Ist mortgage, gold, guar
Exten. and Impr. mort ($1 ,900,000) gold, $ &£.cConeol. mortgage for $8,000,000, gold..$<fc£....c
Wichita Fa^iej/— Ist M. subj. tocalljat 105.g...c"&r
Wilkesb. rf- lFe«(.— First mort., $20,000 p. m., gold.o
Wilm. Colum. dt Aug.—Stock, 6 p. e., guar.Wil. & Wei.
,
1st
309
309
70
28
116
187
50
6
,
mortgage
254
51
28
ii6
c
1886
1888
1,000
1,000
79-'81
ibo
1865 500 <fco.
1887
1,000
1887
1,000
Var.
Var.
—
.
1888 $1,000
500 &o.
1870 500 &o.
1872
1887
'58-'68
1884
1,000
1884
1,000
1863 500 &o,
1865 100 <fcc,
1888
1,000
100
100
1886
1,000
1888
1,000
1888
1,000
1889
1,000
1892
1,000
1890
1,000
1886
1,000
lOO
1880
1,000
Western Maryland.—Line of Roai>—Baltimore to Williamsport,
Md., 90 miles. Leases— Baltimore A Cumberland Valley Railroad and
extension, Edgemont to Sliippen9l)urg, Pa., 34 miles Baltimore A Harrlsburg Railroad, Emory Grove, Md., to Ortanna, Pa., 59 miles western
extension, Ortanna to Fairfield, 4 mUes, and operated liranclies. 19
miles; Potomac Valley RR., Williamsport to Cherry Run on the B. A O.
;
$1,543,000
222,000
875,000
1,000,000
1,704,000
684,000
162,000
528,000
240.000
351,300
19,730,444
800,000
8,950,000
19,489,000
1,441,000
2,344,486
390,907
3,856,000
4,110,000
747,000
435.000
3,043,000
6,000,000
4,500,000
3,000,000
1,500,000
381,000
1,519,000
600,000
769,000
396,000
960,000
1,600.000
& O. N. Y. Guar. A Indem. Co. Oct. 1, 1918
& J.
1890 A 1895
& J. Bait., N. Mechanics' Bk. Jan., 1900
do
6
& J.
do
Jan. 1, 1903
& J.
do
do
Jan. 1, 1927
3H
4
& 3.
do
July 1, 1925
do
5 & 6
Various Baltimore, Co.'s Office, 1895 A 1899
M. A N.
do
do
Nov. 1, 1936
do
May 1, 1938
do
!«• M. it N.
J. & J.
do
do
July,1929A'31
F. & A, Phlla.. Office, 242 S. 3d. Feb. 1, 1896
"i'
5g. J. & 3. N. Y., Continental Tr. Jan. 1, 1937
3g.or5sc. A. & O. Paid 2>a scrip Apr., '92. Oct. 1, 1927
A. & O.
None paid.
5
After 20 years
4>3g. A.
,
6
6
J.
5
A.
"%'
&,
J.
&
&
&
&
&
A.
6
A.
6
J.
J.
4g-
A.
J.
g.
5
J.
After 20 years
paid.
1907
July 1, 1914
Oct., 1914
RR. Apr. 1, 1893*
do
Jan. 1, 1896
do
June 1, 1928
N.Y., 4th Nat. Bank.
O.
O. Philadelphia, Penn.
do
do
J.
D.
N. Y., Office, 40 WaU St.
& O N. Y., Mercantile Tr. Co.
& J N.Y., Cent. Tr. Co. A Lon.
& 8 N. Y., Central Trust Co.
do
do
& 4,
do
do
A
& J. N.Y. Mercantile Trust
New York.
A J.
A J. Wilmington, N. C.
& D. New York A Baltimore.
Q.—F.
See text.
5
None
O.
M.
g.
F.
^^
o per an.
6
6
Tear ending June 30.
Gross eiirnings
Operating expenses
1889-90.
Nov. 15, 1892
Oct.
1,
1926
July 1, 1928
Part each year
Feb. 1, 1930
July 1, 1992
July 1, 1940
1926
July 10, 1892
June 10, 1910
1891-92.
1890-91.
$3,641,055
2,642,590
$3,562,669
2,485,782
$3,580,156
2,398,360
$998,465
999,626
666,720
$1,076,887
1,080,961
632,773
$1,181,796
1,181,796
;
15 miles;
total,
221 miles.
Net earnings
Total net income
Interest, rentals
9rocK.— Common stock is $684,700 ; par, $50 six per cent first preferred stock, $324,000. The company has been largely assisted by the
city of Baltimore, which, in October, 1892, owned $200,000 of Its common stock, ctrtain of ite mortgages, overdue coupons, etc. Washington
County, Md., also in October, 1892, owned $110,000 common and all
the $324,000 preferred stock. Of the thirteen directors the city has
appointed eight and the county two. V. 55, p. 545.
Various propositions have been made by different parties to purchase
tlie city's interest in this road. See references to Chkoniole— also below.
Bonds.—Of the issue of $690,000 Baltimore A Harrlsburg bonds.
$162,000 are held In trust to pay off prior mortgages, as follows
Hanover Junction H. A G. first 6s, due January 1, 1895, $42,000; Baltimore A Hanover first 6s, due January 1, 1899, $120,000.
On July 1, 1892, the company resumed the payment of the semi-annual interest on the 3 14 per cent bonds for $1,704,000, and the 4 per
cent bonds, $684,000, held by the City of Baltimore, amounting to
41,370, or ^82,740 per annum; and they say they wUl continue the
payments regularly hereafter.
Tlie floating debt Oct. 1, 1891, was $444,812, including the first mortfige for $43,500 over-due and long-time equipment and rail notes for
100,651. The total past-due interest paid by the City of Baltimore
vas $2,801,000 on April 1, 1891.
and taxes.
;
Leased Lines.— The Baltimore A Harrlsburg, which was leased la
November, 1886, for 99 years, is practically ovraed.
The Baltimore A Cumberland Railroad and Railway are leased for interest on $121,300 bonds, due July 1, 1929, and the Baltimore A Cum-
berland Railroad extension is leased till November 1, 1931, at $32,700
fer annum, equal to 6 per cent interest on $230,000 bonds, due July 1,
931, and 7 per cent on $270,000 stock.
Concerning the projected lines, see annual report in V. 51, p. 875.
The Potomac Valley RR. is under construction from Williamsport, Md.,
to Cherry Run, West Va., and is intended a.s a connecting link between
the Western Maryland and the Baltimore A Ohio and Pliiladelphia A
Reading. Its bonds are guaranteed by the Western Maryland and the
Baltimore A Harrlsburg. See Potomac Valley and V. 52, p. 121.
Earnings.- Fiscal year ends September 30. From Oct. 1, 1891, to
.Aug. 31, 1892 (11 months), gross earnings are said to have been $927,-
060, against $777,056 in 1890-91, whUe net earnings increased
*38,801. In year 1890-91 gross earnings were $904,378; net, over
rentals, Ac, $333,209; betterments, $81,770; balance, $251,439; in
1889-90, gross, $812,055; net, $277,871; betterments, $65,684. (V. 53,
p. 845; V. 54, p. 78, 204, 460 V. 55, p. 545, 639.)
;
IVestern Ne«r
York
Sc
Pennsylvania.— Owns
Buffalo to
Em-
Sorium, Pa., 121 miles; Buffalo to Ou City, Pa., 136 miles; Oil City to
lean, 116 miles; branches, including proprietary lines, 268 miles;
total owned, 641 miles; trackage, 6 miles; total operated, 647 miles.
Okoanization.— Reorganization Nov. 22, 1887, per plan V. 42, p. 242,
of Buffalo New York A Philadelphia; sold in foreclosure Sept. 15, 1887.
Stock.— In addition to stock outstanding there is $10,269,556 in the
company's treasury, $10,000,000 of which can be dispased of only by
nnanmous consent of stockholders present at a meeting duly advertised.
Bonds. —The second mortgage is a second lien on the railroad and first
" on terminals, coal and equipment, subject to lease of terminals and
equipment to first mortgage bondholders if foreclosed." Till January,
1898, it bears 3 per cent interest (or till October 1, 1892, 5 per cent In
scrip)
after 1898 the rate Is 4 per cent cash and, if earned
T per cent may be paid, but after 3 per cent has been paid on
second mortgage bonds, the stock and seconds share alike. It is especially provided, however, that no sale under foreclosure proceedings
shall take place under the second mortgage until Jan. 1, 1897, unless
proceedings be sooner taken to foreclose the first mortgage The scrip
issued for interest bears 5 per cent interest, non-cumulative, payable
only if earned, is secured by the coupons placed in trust tlierefor, and is
due 20 years from date, but redeemable at option. It is convertible into
income debentures, also non-cumulative, and payable at option. Trustee
of first mortgage. Mercantile Trust Company, of New York of second
mortgage. Fidelity Trust A Safe Deposit Company, of Philadelphia.
(See mortgage abstracts, Chuonicle, V. 47, p. 109.)
Second mortgage coupons duo from 1888 to October, 1892, both inelusive, were paid in scrip. New equipment notes Oct. 1, 1892, $917,647; bond and mortgage on real estate, $272,804; second mortgage interest, payable in scrip, $1,001,266: loans and biUs payable, $5,923
Klnzua Valley freight warrants, $100,000.
Latest Earnings.- July 1, 1892, to Sept. 30, 1892 (3 months), gross
$962,424, against $1,027,098 net, $336,047, against $329,090 interest, taxes and rentals, $165,589, against $161,817
surplus, $170,457
igainst $167,274, interest on second mortgage not being here deducted.
'^Annual Report.- Flseal year ends June 30. Report for 1891-92
given at much length in V. 55, p. 785, 804, 807, showed necessity
of further large expenditures from net earnings for Improvementa.
;
;
;
;
;
$332,906
(V. 53, p. 224, 437, 672. 754; V. 54,
785, 804,806, 807.)
Surplus
—
p.
652,740
$448,188
$529,056
120, 289 800; V. 55, p. 298,
Western North Carolina.— ^Se« Map of Richmond it Danville./
—Owns from Salisbury, N. C, to Paint Rock, Tennessee State line.
185 miles; Ashevllle to Murphy, N. C, 124 miles total, 309 miles.
Leasbd- In May, 1886, to the Richmond A Danville for $134,980— inter;
on bonds not held by Terminal Co. Stock- $4,000,000 common
and $4,000,000 pref. Bonds—The 2d consolidated 6s for $4,110,000
and $1,325,000 of the 1st consols are deposited to secure the 1887
collateral trust of Richmond A West Point Terminal, while $3,160,000
common and $3,160,000 preferred stock are deposited under its collateral trust of 1889. The 1st consols have become a first lien. The Rich.
A Danv. RR. guarantee by endorsement $1,273,000 of the 1st consols.
The Richmond A Danville was placed in receiver's hands in June, 1892,
but the Interest on this company's first consols was paid as usual July 1,
In year ending June 30, 1891, gross earnings were $1,013,043; net,
$333,760; interest paid (on bonds not held by R. T.) and taxes, $302,In 1889-90 gross, $889,938 net, $233,952.
060; balance, $31,7(30.
On June 30, 1891, due other companies, $1,711,497. (V. 53, p. 843.)
^Vestern Pennsylvania.— Owns from Bolivar to Butler, 71
miles, and Butler Junction to Allegheny City, 27 miles; branch, 17
mUes; total, 116 miles. Leased to Pennsylvania RR. for 50 years from
June 1, 1883, rental being the net earnings. In 1891 rental $629,257.
In 1890 rental $873,648; paid Interest and 6 p. c. dividend on $1,775,000 stock; surplus, $544,116. Penn. RR. owns $1,753,350 stock.
Wheeling Sc liake Erie.—Owns Toledo, O., to Bowerston, O.,
174 miles, and branch to Huron, O., 12 miles; Wheeling Division;
Bowerston to Martin's Ferry, opposite Wheeling, 42 miles Steuben vllle
branch, 14 miles; Toledo Belt, 5 miles, and coal branches, 8 miles.
"Total, 255 miles. Company owns a controlling interest in the Wheeling Lake Erie A Pittsburg Coal Co. — which see in " Miscellaneous."
History and Stock.—Sold in foreclosure April 23, 1886, and reorganized with stock of $3,600,000 which in March. 1888, was
est
;
;
preferred 6 per cent non-cumulative. After payment of 6 per
cent on the common stock, common and preferred share pro rata. In
1891 the preferred stock was increased from $3,600,000 to $4,500,000.
Common stock is to bo increased from $6,000,000 to $10,000,000.
Dividends.— On preferred stock From April, 1888, to February,
1891, both inclusive, at the rate of 4 per cent per annum; in 1891, 44;
May, IJ4 Aug., II4; Nov., 1. See V. 55, p. 724.
in 1892, Feb.,
Bonds.— The improvement and extension mortgage for $l,900,000(o(
which $394,0(X) is reserved to retire the Toledo Belt bonds) covers,
subject to prior liens, all the property of the company, and is a first lien
upon the extension to Bellaire and upon the SteubenvlUe branch.
In July, 1892, stockholders voted to issue a consolidated mortgage to
secure $8,000,000 of 4 per cent bonds, of which $6,400,000 to be held
to retire \>v\ot bonds at or before maturity, and $600,000 to be issued
at once to fund floating debt created against deferred freight earnings;
the remaining $1,000,000 wUl be held in trust to be issued only for
property essential to conduct of the Co.'s business, under certificate from
the engineer and upon resolution of the Directors. See V. 54, p. 965.
Latest Earnings.— From July 1 to Aug. 31, 1892 (2 months), gross
$259,403, against $226,399 in 1891; net, $75,363, against $72,281.
ANNUAL Report.— Fiscal year ends June 30. Report for 1891-92 was
in Chronicle, V. 55, page 721.
1890-91.
1891-92.
1889-90.
Year etuUng June 30—
$1,047,419 $1,225,305 $1,430,128
Gross earninge
made
—
m;
;
398,088
187,500
144,000
Net receipts
Interest paid
Dividends on pref. stock
Miscellaneous
452,535
290,541
167,000
761
513,005
301,133
225,000
19,782
$66,588 def. $5,768 sur.$32,910
965 V. 55, p. 60, 551, 639, 721,724.)
Wichita Valley.—Owns from Wichita Falls to Seymour, Texas
51 miles; completed iu September, 1890. Stock authorized, $6,000,000)
outstanding, $1,020,000; par $100. Mortgage is for $6,000,000 at
$20,000 p. ui; trustee. Mercantile Trust Co., Morgan Jones, President.
W^llmlngton Columbia & Augnsta.—Owns from Wilmington;
N. C, to Columbia, 8. C, 192 miles. Leases Jointly with Northeastern
South Carolina Railroad, the Central Railroad of South Carolina, Lane,
8.
to Sumter, S. C, 38 miles. Total operated, 230 mUes.
Sold in foreclosure Oct., 1879, and reorganized. In June, 1885, leased
for 99 years to the Wilm. A Weldon. the lessee to pay aU interest and
fixed charges and 6 per cent dividend on the stock, payable semi-annually in January and July. In year 1890-91 gross earnings $979,442;
net Income, $347,278; balance to W. A W., $193,678.— (V. 53, p. 835.)
Wilminston & Northern.—Owns from Wilmington, Del., to
Highs Junction, Pa., 71 mUes branches, 17 miles total owned 88
Balance, surplus
— (V. 53, p. 835;
V. 54, p. 162,
;
C
;
;
.
NOVEMBKB,
RAILKOAD STOCKS AND BONDS.
1893. J
Snbacribers
wrill
Miles
For explanation of column headinKs,
on tlrst page of tables.
Date
Size, or
of
of
Par
dec, see notes
Road. BondB Value.
Wilmington it A'or^A.— 1st M., sub. to call In 1907..
QeucralmortffaKofor 1^1,000,000, gold
Wilmington di )rei(/o»— Stock
88
88
r
1887
$500
1892
1,000
100
100
Certllfcatcs of iudeliteduess, non- cum., income.
Sinking fd. bdn., g., provided for by gou'l mort.o*
Gen'l mort. for iH.OOO.OOO (if 12,000 i>er mile) .0*
Special Trust ccrtiHcates
Winona <t South ir.— lat M., $18^500 p. m., Kold..c*
WitconHn Cent. Oo.— Chippewa FallsA Weat. IstM.
Wisconsin A Minnesota 1st mortgage
Minn. St. Croix <fe Wisconsin, Ist mortgage
Terminal mortgage notes
Improvement mortgage notes
Wiscouotn entral Co. lat M.,$12,000,000, gold.c*
Income M., non-cum., $9,000,000, gold
c*
Central Car Co. Equipm't, leases and contracts.
CUcago Wis. <fe Minn, (leased)— Ist mort., gold.c*
Income bonds, 6 per cent, cumulative
Wis. Cent. R. R. Consol. M., Ist series, gold
04r
Conaol.M., 2d series, iucome(notcum.)gold.o*&r
Wis. Cent. Co.& RR. Improv't s. f. bonds, gold, .c*
Worcester Nashua a Rochester- Stock (i?3,600,000l..
f Worcester & Nashua RR. bonds.
.c*
do
do
do ...0*
„
35 3 ^ Wor. Naahua& Koch. RR. bonds. ..o*
J S2
i^w^S S
do
do
do ...0*
^_50M c [Nash. &Roch. 1st mort. bonds
c*
Zanes. <l Ohio River— \&t M., $25,000 p. m., gold, .o*
.
392
392
.
il7
10
54
AU.
I
All.
389
389
"94
46
46
46
46
94
80
.
1,000
1,000
1885
1888
1874
1880
1884
1885
1886
1887
1887
1,600
1,000
1,000
1,000
1885
1,600
1885
1879 500 "&c.
1879 500 &0.
1891
1,000
100
1873 500 Ac.
1875 l,000&c
1886
1,000
1890
1874 500 Ac.
1886 100 Ac,
trackage, 4 miles total operated, 02 miles. Organized January
18, 1877, as successor to the Wilmington A Reading RR.; sold 1b foreclosure Deo. 4, 1876. Bonds. Under the general mortgage for $1,000,000 sufticient bonds are reserv d to retire present indel)tedne8s at
Stock autliorized, $1,500,000; outstanding, $1,278,050;
maturity.
Sar $50. Gross earns, in 1801, $444,628 net, $65,334; interest, $25,46; surplus, $40,287. (V.55,p. 886; V. 55, p. 257.)
'Wllmlneton Weldon.— Owns Wilmington to Weldon, N. C, 162
miles; branches— Tarhoro, 16 miles; Scotland Neck (Halifax to (Cinston)
86 miles; Faj-etteville and Rowland (including Midland of N. C), 135
miles; Nashrille, 19 miles; Clinton, 13 miles other,3 miles; total owned,
433 miles. Operates Albemarle A Raleigh RR., Tarl>oro to Plymoutli.
54mUes: Florence RR.. 27 miles; Mancliester A Augusta. 16 miles.
Leases Wilmington Colaral)ia A Augusta, 189 miles; Central South Carolina (jointly with Northeastern South Carolina RR.), 38 miles; has
$653,510 invested iu ilie Norfolk & Carolina RR., 110 miles; total of
The roads of this system form the Atlantic Coast Line.
all, 868 miles.
In 1892 completed an extension of 46 miles.
Oroanization.— I^eased Nov., 1872, to Wilming. Columbia & Aug. RR.
for 99 years. The lessees made default December, 1877, and the
lease was surrendered April 13, 1878. In June, 1885, this company
leased for 99 years the Wilmington Coluinl)ia A Augusta (which see).
An increase of stock has been authorized to sucli an amount as may
be necessary to complete certain extensions. (See V. 51, p. 348, 876.)
There was June 30, 1891, $1,117,401 to the credit of the sinking fund.
The certificates of indel)tedness, .$2,500,000, were distributed to stockholders iu January, 1887, as a scrip dividend. Tliere were also June
30, 1891, $437,149 new equipment notes.
Dividends since 1877— Froml878 to 1881, Inclusive, 3 per cent; in
1882 and 1883, 6 from 1884 to July, 1891, both inclusive, at rate of 8
percent per annum., payable Jan. 1 and July 1 in Noveral)er, 1891
(on $2,500,000 ..stock) 4 per cent was paid, tlius anticipating the January, 1892, dividend in July, 1892, 4 per cent.
Eakninos.— Fiscal year ends June 30. On 362 miles, including Midland of North Carolina, earnings have been as follows. See V. 53, p. 835
1888-89.
1889-90.
1890-91..
;
—
;
&
;
;
;
;
Gross earnings
Expenses
$1,224,044
691,172
$1,350,853
681,137
$1,535,714
855,679
Net earnings
$532,872
$669,716
$680,035
In 1890-91 net earnings as above were $680,033 total net income.
Including interest, dividends and Wilm. Col. A Aug. lease, $1,236,374;
detluct interest on bonds, Ac., .$439,548, and dividends, $200,000 surplus foryear, $596,82(1.— (V. 52, p. 39; V. 53, p. 835.)
^Vinona Ic Sonthwentern.—Road projected from Winona
Minn., to Omaha, Neb., 375 miles completed from Winona to beyoud
Osage, 117 miles. Has traflic agreement with Green Bay Winona A
St. Paul. The Winona RK. Bridge, completed in August, 1891, connects
these roads. See V. 52, p. 974. Trustee of mortgage (for .$6,950,000)
Farmers' Loan A Trust Company. There is al.so outstaudiug scrip iu
$500 pieces this scrip Is convertible into tlrst mortgage bonds, the
bonds reserve<l to retire it belus included in the amount out in the table
above. Stock authorized, $20,000,000 outstaudiug, $2,290,000, par
$100. (See V. 51, p. 172 ; V. 52, p. 974 ; V. 53, p. 320.)
'Wlsconiiln Central Company.— ('/See Jfap.;— Owns Junction near
St. Paul to Abbottsford, Wis., 157 miles ; branch to Bes.semer, 34 miles;
other brandies to Eau Claire, Ac, 12 miles; spurs, 44 miles. Leases
Chicago Wisconsin A Minnesota, Chicago to Schleisingerville, 112 miles,
and spurs, 13 miles; traclcage to Chicago, Minneapolis, Ac, 25 miles;
total, 397 miles. Controls Wisconsin Central Railroad, owning from
Menasha to Ashland, 252 miles Stevens Point to Portage City, 71
miles; branches and .spurs, 9 1 miles; trackagotoPortagoaudMilw.aukee. 29 miles; and leasing Milwaukee A Lake Winnebago (which see),
Neenah to SchlesingorvlUe, 64 miles, spur 3 miles; Packwaukoo to
MontoUo, 8 miles; trackage, 1 mile. Total Wisconsin Central Railroad,
520 miles. Grand total, 916 miles. Including 28 miles tnuskage leased
;
;
;
;
;
;
to
Northern
147
INTEREST OR DIVIDENDS.
When Where Payalile, and by
Amount
Outstanding Rate per
Cent.
$516,000
234,000
Payable
Whom.
*
D. Reg.; Co. mails checks.
do
do
Wllm., N.C., Co. '8 Office.
7
A. A 0.
do
do
7g. J. A J. N.Y.,Balt. and Wilmlng.
8
J. A J.
do
do
6
M. AN.
Wilmington, N. C.
J
5
Q.-F.
6g.
3,000,(K)0 See text.
2,500,000
936,000
3,000,000
380,000
2,118,250
150,000
810,000
180,000
400,000
215,000
11,265,000
7,902,833
(?)
i'22
—
;
»
confer a sreat favor by arlTlns Immediate notice of any error dlacorered In thene Tables.
RAILROADS.
mUes
;
:
2,860,000
1,040,000
1,522,000
13,000
2,687,877
3,099,800
250,000
385,000
150.000
80,000
564,000
2,000,000
/»««</»— Prlnol
pal,Wlien Dna.
Slocks— IjUtt
Dividend.
1»07-I9i87
Aug. 1. 1932
July 15, 1892
Irredeemable.
May
1,
189T
1935
At Co.'s option
6g. A. A 0. N. Y., J. Walker A Sons. Apr. 1, 1928
7
M. A N. Boston, 50 State St.
May 1, 1904
7
A. A 0.
do
Apr. 1, 1910
M. A N.
6
do
May 1, 1915
•
A A.
do
Feb. 1, 1895
A S.
do
Sept, 11, 190«
A J. N.Y.,36 Wall St.A Lond. July 1, 1987
A. A 0.
No coupons paid.
July 1, 1987
1894-1899
Mi AS. N.Y.,36 Wall St. A Bost. Moh. 1, 191
6
to6
Mch. 1, 191»
5 g. J. A J. N.Y.,36 WaU, A Boston, Jan. 1, 1909
7g. J. A J.
Jan. 1, 190»
5 g. M. A N. N.Y., 36 WaU A Boston. May 1, 1931
6 per an. J. A J.
Worcester, Cilice.
July 2, 1892
A. A 0. Boston, Globe Nat. Bk. Apr. 1, 189»
5
5
F. A A.
do
do
Feb. 1, 1895
4
J. A J.
do
do
July 1, 190»
,
4
do
do
A J.
Jan. 1, 1930
6
A. A 0.
do
do
Apr. 1, 1894
6g. F. A A. Last paid Feb. 1, 1889. Feb. 1, 191»
8
8
F.
6g.
J.
M.
.1.
perpetuity. Rental is 37ia per cent of grose earnings, less Its proportion of terminal charges but surplus rental over $350,000 yearly Isdivided equally with lessee.
Stocks and Bonds.- The preferred stock (6 per cent cumulative) 1»
$3,000,000; common stock, $12,000,000. The tlrst mortgivge bonds of
1887 and (subject to these) the incomes cover all the company's Interest now or hereafter acquired iu any of the lines which at tlie time of
the making of the mortgage were operated in the Wisconsin Central
system, whether owned or leased. They therefore cover all the securities of said companies heid iiv the Wisconsin Central. There are also
Penokee 1st 5s, duo 1937, $30,000, Of the improvement bonds of 1891
the total authorized Issue is $12,000,000, of which $7,(KK),000 will be
issued for present use. The bonds arc the Joint and several obligations
of the Wisconsin Central Co. and Railroad Co. Tlie bonds are further
collaterally secured by purchase money first lien upon all property
bouglit with their proceeds. They have iiroce<lence in paym entof interest over the incomes, no now mortgage can be put ahead of them,
and if either company liereaftor issues a new mortgage, the improvement bonds will be exchangealile for i)onds tliereby secured at par.
After June 30, 1900, a sinking fund equal to 3 per cent of the netrental
from the Northern Pacific Coinjiany will be applied to purcliasing tlieia
whenever obtainable in the open market at 105. Each of these Ijonds
Is also convertible on any coupon day into ten shares of common stock
of the Wisconsin Central Co. A full statement concerning these bonds
was in V. 53, p. 22. See also the form of bonds, Ac, V. 53, p. 757.
On July 1, 1892, bills payable, exclusive of book accounts, were
$500,478.
L*Ni) Grant.—The Wisconsin Central Railroad had a land grant of
839,348 acres, of which on June 30, 1892, 579,550 acres rem.'vlued
unsold, and .$93,948 land contracts weri- outstanding.
Earnings a>cd Finances.- Since the Wisconsin Central Company
owns practically .all the securities of the Wisconsin Central Railroad.
the entire earnings of both companies go into the Wisconsin Company's
treasury, from them being paid the total charges of both companies.
Fiscal year ends June 30. Report for 1891-92 given at length in
Chronicle, V. 55, p. 783, 805, 808, showed Income as follows
WISCONSIN CENTRAL COMPANT AND WISCONSIN CENTRAL RR. COMPAXT .
consolidated INCO.ME ACCOUNT FOB YEARS ENDtNO JUNE 30.
Earnings—
1890-91.
1891-93.
Net Northern Paoiflo rental
$1,267,321
$1,230,234
Miscellaneous
1,185
6,919
;
Total
Total charges
Balance surplus for the year
Add surplus of previous year.
$1,268,506
$1,203,523
$64,983
95,559
$1,237,153
$1,168,566
$69,587
160,542
Surplus June 30
$160,542
$229,129
The Chicago A Northern Paciflc being sub-leased to the
Northern Pacific Its earnings are not included in the tabulated statement for tlie year here given, they having no relation
to this company's finances. In the monthly earnings of the Wisconsin Central, however, as reported l)y the Northern Pacific Railroad
Company, tlie Chicago A Nortliern Pacitlc earnings are included, oonsequentlv making them useless In determining the earning capacity
Company. See full explanation in V. 51, p. 748.
Earnings and expenses of the Wisconsin Central system of railroads,
as reported by the Northern Pacitlc Company lessee, were as follows,
not Including the Chicago A Northern Pacillc.
1889-90.
1890-91.
1891-92.
of the Wis. Cent.
Freight earnings
$3,437,205
1,135,250
207,889
$3,743,347
1,259,857
242,510
$4,018,823
1,357,196
167,945
Total earnings
$4,780,344
Oper. expenses (excluding taxes). 2,970,157
$5,245,714
3,357,269
$5,543,964
3,496,238
Pas.senger
Mall, express
and miscellaneous.
Paciflc.
Noteamlngs
....$1,810,187 $1,888,445 $2,047,726
Okoasi/.atiov, Etc.—Organized June, 1887, to gather Into a single
62'13
68'06
64O0
corporation the Wisconsin Central Associated Lines. Nearly all the "se- P. 0. ofex. toeam'gs(excl. taxes).
(V. 53, p. 22, 127, 674, 752, 757, 834; V. 55, p. 783, 80S, 808.)
curities of the Wisconsin Central Railroad arc now owned, but for
'Worcester Nashua 6c RocheMter.»Own8 from Worcester to
legal reasons Its separate corporate existence is malntaliiod.
Lease.- A tralHc contract with the Northern Pacillc was on Nashua and Nashua to Rochester, 94 miljs. Consolidation 1883, of
April 1, 1890, altorml to a 99-year lease, uudor which tlie Northern Worcester A Nashua and Nashua A Rochester.
In October, 1885, a lease of this property for 50 years, from January
Facitlo pays all operating expenses and taxes, the Wisconsin Co.
furnishing the equipment.
As rental the Wisconsin Co. receives 1, 188(», was mafle to tlie Boston A Maine Railroa<l Company at a ren35 per cent of the gross earnings of that part of tile road Iviug north of tal of $230,000 and taxes. The mortgage of 1879 secures equally on
the Junction with the Milwaukee A Lake Winnebago and 37 la per cent the road from Worcester to Nashua the debentures of 1873 and 1875,
of the gross earnings of the Milwaukee A Lake Winnebago and tlie Chi- and all the other bonds, including the Nashua A Rochester Isi
cago Wisconsin A Minnesota. If operating expenses are less than 59 mortgage bonds of 1874. For 1891-92 rental $250,000; net over
per cent of gross earnings, the saving is to bo divided between the lessor fixed charges, $157,486 paid dividend of 6 i>er cent, $183.864 detlott
and the lessee. The lessee assumes all operating contracts, but tlie Wis- charged to profit and loss, $26,378. Dividends In 1884, 1>«; In 1885,
consin Company pays all rentiils accruing under suoli contracts, ex- 3 and 17 stock; in 1886, 3; from 1887 to July, 1892, both Inclusive, at
cept the rentals due the Chicago A Northern PaciHo and the Chicago rate of 6 per cent yearly. (V. 52, p. 204.)
Muwaukeo A St. Paul, which rentals are to be met by the lessee. Once
Zanesvllle Sc Ohio River.—Owns from Zanesville, O., to Harin Ave or ten years an alteration in the percentages is permitted by mar. on the Ohio River, opiwisite Marietta, about 80 miles. Including
arbitration.- (See V. 51, p. 713.)
branches, 3 miles. InAug.,1889,inter68twaadef»ulted. Foreolosuresoft
The Chicago & Northern Pacific (wliich ace) was leased on May 1, 1890, Id progre.ss. See V. 50. p. 140. On July 19. 1892, J. Hopper Suttor was
for 99 years, the lease being then assumed by the Northern Pacitlc.
made receiver. See V. 55, p. 147. Current accounts June 30, 1891,
The Chicagi) Wisconsin A Minnesota, from Schleisingerville to Chicago $262,593, In year ending June 30. 1891, gross earnings $151,251
A Northern PaolHo terminals In Cook County, IU.,lB2mllee, IsleasedlD net, $29,221; taxes, $4,738 int. on bonds; $120,000. (V. 55, 147,)
—
;
;
:
;
i
'
148
INVESTORS' SUPPLEMENT.
[Vol.
LV.
.
.
KOVBMBKB,
MISCELLANEOUS STOCKS AND BONDS.
18i'2.]
149
Babscrlbers irlll coafer a great favor bjr kItIiik Immediate notice of any error discovered in tbese Tables.
Bond*— Primal
INTEREST OE DIVIDENDS.
MISCELLANEOUS.
(For explanatioii ot column headings,
first
page of
ius.,
see notes on
tables.
Date Size, or
Amount Rate Per When Where Payable, and by pal.When Dim.
Slockt—Laat
of
Par
Bonds Value. Outstanding Cent. Payable
Dividend.
Wliom.
niisci:L.iiABiEoi;s.
$100 $12,000,000 8 per an.
100 17,500,000 See test.
^datnt Express— Stock
American Bell Telephone— Btock ($20,000,000 authorlied)
cir 1888 500 &e.
Debentures, subject to call at 110
25
Jimencan Vual (Maryland )—Btoc\
100
American Cotton OM— C'onnnon stock (see V. 54, p. 761)...
100
Preferred 8to<k six per cent non-cumuliitlvo
1,000
Debentures for $.5,000,000, subject to call at llO.gold.o' 1890
100
American mslrict Tcleg.—SXoo\L, $4,000,000 autbortzed.
100
American Express— Stock
100
American Soda Fountain—Common stock
100
First preferred, (i percent cumulative
100
Second preferred, 8 per cent cumulative
100
American Sugar Relining— Common stock
100
Prelerred stock, 7 per cent cumulative
1,000
l8t mortgage for $10,000,000
100
American Tel. it Gable— Stock, guar. 5 p.c. by West. Union
.
American Tobacco Co.— Common stock
50
100
100
100
Preferred stock, 8 per cent non-cumulative.
.American Type /'o«naer»— Common stock
Preferred stock, 8 per cent, cumulative
Adams Express.—No
reports.
American Bell Telephone Co.—Dividends— In
1881, 6 per
In 1883, 11; in 1883, 12; in 1884, 15; from 1885 to 1887, inclusive. 16; In 1888, 18; in 1889, 18; In 1890, 18; In 1891, 18 p. c; in
1892, Jan., 3 p. c., April, 3; July 3 and 3 extra; October, 3.
«ent;
In May, 1892, the stockholders voted to issue $2,500,000 new stock,
at par to each holder of six shares, making $17,500,000 outstanding. On Jan. 1, 1892, the company had 512,407 instruments in
use In hands of licensees, and 266,456 miles of wire, against 483,790
instruments and 240,412 miles of wire lu January, 1891.
Annual Bei-ort.— Report for 1891 was lu Chkonicle, V. 54, p. 559.
«ne share
1888.
1889.
1890.
1891.
$3,865,119 $4,044,704 $4,375,291 $4,736,007
2,414,206 2,658,738 2,869,418 3,126,820
2,436,464 2,661,888 2,869,418 3,126.820
1,192,152 1,238,913 1,463,913 1,725,000
597,726
600,000
750,000
900,000
646,586
700,000
655,505
501,820
Total gross earnings
Net earnings
Total net income
Paid dividends
Extra dividends
Depreciation reserve
2,436,464 2,538,913 2,869,418 3,126,820
V. 52, p. 121; 532; V. 54, p. 443, 559.)
American Coal.—There are mortgage bonds for $200,000. The
Annual statemcut for 1889 in V. 50, p. 27o, gave the following information: Income, 1889, $760,802 total expenses and interest to March,
1890, $651,853 balance, $108,948, against $103,034 in 1888 divi•dends (6 per cent), $90,000 surplus, $18,948. Dividends 6 p. c. yearly.
Total
—(V.
50, p.
449, 589
;
;
;
;
;
American Cotton OIL— Organization.—Incorporated Oct. 12,
1889, under the laws of New Jersey, to succeed the American Cotton
Oil Trust, of which It was a reorganization. Owns the following properties, all of which are free from mortgage lien 70 crude oil mills, 14
irelineries, 4 lard plants, 9 soap factories, 15 cotton ginneries, 4 cotton
compressors and 8 fertilizer factories in all 124 properties, of which 34
^ere not active on Aug. 31, 1892. See V. 55, p. 767.
Stock and Bonds.— Pref. stock is 6 p. ct., non-cumulative, and is subject to call at any time at 105. Preferred stock for $4,363,700 and
additional to the amount given in the table above as outstanding Is in
*he company's treasury, and enough thereof must be held to exchange
.at par for the debentures, which are subject to call at 110, on two
months' notice. No mortgage lien can be placed upon the property
without the written consent of the holders of 80 per cent of these debentures. Under the plan for the gradual retirement of the debenture
"bonds, $210,000 were drawn and canceled August 1, 1892. See plan in
V. 55, p. 766.
Dividends.— Semi-annual dividends upon the preferred stock at the
Tate of 6 per cent per annum were paid in June and Deceml>er, 1892.
Price of Stock.—Common stock in 1891, 15''8®35i8; in 1892 to Nov.
18 inclusive, 32 'fl®47''8. Price of preferred in 1891, 33'fl®65 in 1892
to Nov. 18 inclusive, 63i3®86%.
Annual Eei'Ort.— Fiscal year ends August 31. Annual meeting of
•atockholders on the first Thursday of November. The last report was
nubllslied in full in the Chronicle of Nov. 5, 1892 (V. 55, p. 766), showing value of property Aug. 31, 1892, as follows Appraised value of real
e.statc, macliinery, &c., $9,507,531; ca.sh in hanks, $2,165,553; bills
and accounts roeelvaljic, $1,539,245; marketalile products and supplies
x>n hand, $3,408.541 total valuation, $7,113,338. See also p. 746.
For the year ending Aug. 31, 1892, the profits of the wliole business
were $2,527,699, less expenses of administration. Interest on bonds, ,fec.,
$673,725; bahince, net income, $1,853,973. Tiie protits from all the
properties, exclusive of interest charges and general office expenses
tave been as follows since 1886 Year ending May 31, 1887, $2,448,225; year ending May 31, 1888, $2,459,152; fifteen months to Aug.
.81, 1889, $1,835,795; year 1889-90, $129,979; year 1890-91, $1,902,181; year 1891-92, $2,527,699.
Directors.— Edward D. Adams, John R. Bartlott, T. E. Chaney, AV.
A. C. Eweii, James A. Garland, Charles Lanier, Mayer Lelir.ian, Alfred
B. Mason, George A. Morrison, R. T. Wilson, all of New York City; Jules
Aldige, New Orleans, La.; N. K. Fairbank, Chicago, 111.; M. Prank,
Atlanta, Ga.; G. A. Hobart, Paterson, N. J.; E. Urquhart, Little Rock,
Ark.
Officers.— Chairman of the Board of Directors, Edward D. Adams,
president, John R. B.artlett; Secretary and Auditor, Robert E. Munro;
Treasurer, Justus E. Ralph. Office, 29 Broadway, N. Y. (V. 53, p.
•639, 673, 676 V. 54, p. 761, 923 V. 55, p. 746, 766.)
American District Tclegrapli.—In January, 1892, this company purchased the entire stock, property and francliises of the Mutual
jDlstrfct Telegraph and Mutual District Messenger companies.
Its
authorized capital is $.1,000,000. Tlie companies now united liad about
33,000 iustnuuents in operation in 1890, and their net earnings in that
year were $104,028. Stock listed in February, 1892. Dividends— In
1891, August, 1; in 1892. August, 1'4; November, IM. Earnings— In
1891, gross, .$510,708; net, $45,287; dividends (2 per cent), $51,000.
<V. 54, p. 33,866.)
American Express.-Dividendsot 6 percent yearly have been
paid since 1882.
American Soda Fonntaln Co.—Formed in 1891 imder laws of
J^ew Jersey to take over and carry on tlie l)usines8 of manufacturing
soda w»t<r apparatus and supplies, as hitherto conducted liv tlie following (•stiililishments John Matthews, New York; A. D. I'uifer &. Sons
Manufai'turing Co., Boston; James W. Tufts, Boston, and Charles Lippineott & Co., Phihuielphia. Dividends on preferred stock have been
paid In full up to date. On common stock 10 per cent was paid In
February, 1892.
Total sales In year 1891 were $3,171,314; net
4410,469 dividends, $330,000 balance. $110,469. (V. 54, p. 396.)
:
;
;
:
:
:
;
;
:
;
7
6 per
2,000,000
1,500,000
20,237,100
10,198,600
3,790,000
3,825,000
18,000,000
1,250,000
1,250,000
1,250,000
37,500,000
37,500,000
.-M.
'&.
&
4
an.
New York, 59 Broadw'y
Deo. 1, 1S»3
Boston, Comp'y's OOice. Oct. 15 1893
do
A.
8.
do
Aug.
1,
1898
N. Y., Office, 1 B'dway. Sept 10,1892
See text J.
D. N. Y., Wlnslow, L. 4 Co.
Q.-F.
do
do
8 g.
See text.
N. Y., Office, 8 Dey St.
6 per an. J. A J. N.Y.,Co.'8 Of., 05 B'way
10
AnnuaL N. Y.,Co.'8 Of., 65 B'way
6 per an. K & A.
do
do
8 per an. F. & A.
do
do
See text.
N.Y. Office, 117 WaU St
x^r^v
7 per an. J. & J.
do
do
6
J. &. J. N. Y., Central Trust Co.
(»)
14,000,000 5 per an. Q.— M. N. Y., West. Union TeL
17,900,000 See text. M. & N. N. Y., Farm. L. 4 Tr. Co.
11,935,000 8 per an. Q.-F.
do
do
5,000,000
4,000,000 8 per an. Quar. N. Y.,QuaT. A Indem. Co,
1, 1882
Nov. 1, 1900
Nov. 15 1892
Jan. 3, 1893
Deo.
Feb. 4, 1892
Aug.
Aug.
Oct.
Jidy
Jan
Dec.
Nov.
Not.
1892
1892
1892
.2, 1892
1911
1, 1892
1, 1892
1, 18»3
4,
4,
1,
,
New.
American Sugar Refining.—This new Jersey corporation became in January, 1891, the owner of all the property theretofore
belonging to the Sugar Refineries Company, or so called Sugar Truat
On and before March 4, 1892, the company had acquired sugar retlnerles in tlie States of New Jersey, New York, Massachusetts, Missouri,
Louisiana and California. It was the owner of the capital stock of a
sugar refining corporation in Maryl.aud. It had the control of the
sugar refineries in the United States, with the exception of the Revere
Sugar Kefluing Co., of Boston, and the four Plilhulelphia refineries.
In June, 1890, the courts decided that the North River Company bad
forfeited its charter by its alliance witli the Sugar Refineries Company,
and it was thereupon agreed to reorganize under the present title,
according to plan iu Chronicle, V. 51, p 609. The receivers appointed
in November, 1890, were discharged January 10, 1891.
New Acquisitions.- In January, 1892. in Jersey City an increase
of $25,000,000 in stock was voted, half to be couimon and half preferred. This was to be sold at par and the proceeds used for buying up
other refineries or for l>uilding. Accordingly, under contract of Marco
4, 1892, was purchased a controlling interest In the stock of the E. C.
Knight Companv "f Philadelphia (.$SOO,000), of the Franklin Sugar Co.
of Peun. ($3,000,000). the Bpreckeis Sugar Refining Co. of «Peim.
($5,000,000), and the Delaware Sugar House ($96,000), these four companies together producing, it is said, 33 per cent of the total sugar refined in the United States. In May, 1892, a bill in equity was filed in
the United States Circuit Court iu Philadelphia against these companies
under tlie Slierman Anti-Trust Law (see V. 54, p. 762) to prevent "the
onsummation of the sale. See V. 54, p. 761; V. 55, p. 177.
Annual Report.— Fiscal year will hereafter end Nov. 30. Of the
Directors two will serve for three years, two for two years and
two for one year. Very little Information has ever been given
about the company's affairs. The brief report for 1891 had the
following: "By reason of the magnitude of the business and the
remoteness of some of the refineries belonging to the company
It had been found Impossible to secure absolutely accurate reports up to
Dec. 31. The books of the company, however, show net earnings for
the year not less than $5,073,002, from which amount two semi-annual
dividends have been paid to the stockholders, each of 4 per cent on the
common and 3*2 per cent on the preferred stock, amounting in all to
$3,750,000, leaving a surplus of net earnings ot $1,323,002 reserved for
contingencies."
balance 8UEET DEC
31, 1891.
Liabilities.
Aasels.
Cash
$2,558,040 Preferred stock.
$25,000,000
CaUloans
1,196,955 Common stock
25,000,000
Sugar and supplies
7,110,549 Unpaid dividends
1,879,912
Accounts receivable... 2,971,6.12 Bills payable
8,570,000
Stocks and investm'nts 3,558,283 Mlsccllaneonsitems...
1,072,476
Loan accounts
Plant
Miscellaneous Items.
Total
1,357,070
Surplus
1,323,002
4.1,250,000
.
2,842,847
Total
$62,845,391
$62,845,391
Dividends.— Dividends since reorganization: On preferred stock in
3><3 per cent; in 1892, Jan., S^a percent; July, 3^ On oom-
1891. July,
mou
stock, in 1891, July, 4 percent; lu 1892, Jan., 4 per cent; Jiily,4;
October, dividends changed to quarterly, 2 Hi iier cent.
Price ok Stock.- Refining Company's temporary certificates for
common stock— In 1891, 57'a®93»8; in 1892, common stock to
Nov. 18 Inclusive, 78i2all538.
Price of temporary certificates for preferred— In 1891 853i98; In
1892, preferred stock to Nov. 18 inclusive, 902)10738.
Directors.— H. O. Haveineyer, T. A. Haveineyer, F. O. Matthlesea,
Geo. C. Magoun, J. E. Searles, Jr., Wm. Dick, J. B. Thomas.
Officers.- President, H. O. Haveineyer; Secretary and Treasurer,
John E. Searles, Jr. New York office, 117 WaU Street. (V. 53, p.
156; V. 54, p. 119, 202,469,525,761; V. 55, p. 177.)
American Telegraph ^k Cable Company.—Owns two cables
between Sennon Cove, England, and Dover Bay, Nova Scotia. Cables
leased to Western Union till 1932, with a guaranty of 5 per cent per annum on the stock issued—$14,000,OQO.
American Tobacco Company.—This company was organized In
1890 under the laws of the State of New Jersey, for the i>urposo of buying, mauufacturing and selling tobacco in all its forms. It is the owner
of the real estate, tobacco factories, patents, Ac, formerly belonging to
Allen & Ginter, W. Duke Sons & Co., The Kinney Tobacco Company,
William S. Kiml)all & Co. and Goodwin & Co., etc. Its assets on Jan. 1,
1892, were valued at$32,330,394. In 1891 w-<ro purchased the tobacco
factories of tlie Marburg Brothers and G. W. Gail & Ax. of Baltimore,
of the National Toliacco Works of Louisville and P. Whitlock & Co. of
Rtclimond. To pay for these properties and to provide for future needs,
tlie stockholders on July 14, 1891, vote<l to increase tile coninion stock
to $21,000,000 (par $50) and the preferred stock to $14,000,000. See V.
53, p. 21. On Jan. 1, 1892, there was still in the company's treasury
$2,065,000 preferred and $3,100,000 common stock. Preferred stock
See application In V. 51, p. 349.
listed in September, 1890.
Dividends on preferred From August, 1890, to November, 1892,
including 2 percent quarterly. On common stock for 1891, 12 per cent
was paid; iu 1892, November, 6 per cent.
Earnings.- In year 1891 net sufficed to pay 8 per cent on the prefd
stock then outstanding and 12 on common, leaving a sur. of $1,293,994.
Directors. Lewis Ginter, John Pope, George Arents, James B.
Duke, Benjamin N. Duke, George W. \\ atts, Francis 8. Kinney. W. H.
Butler, Charles G. Emery, W. S. Kimball, William A. Marburg, Geo. W.
Gail. Pres., James B. Duke; Sec, Wm. H. Butler; Treas., Geo. Arents.
N. Y. office, 45 Broadway (V.52,p.641; V 53, p. 21; V. 54, p. 48S.)
:
—
.
.
.
INVESTORS'
ISO
.
:
SUPPLEMENT.
[Vol. LV.
Subscriber* will confer a t;reat favor by giTlns Immediate notice of any error discovered In tbeae Tables.
Bonds— PrinciINTEREST OR DIVIDENDS.
MISCELLANEOUS.
For explauatiou
of
column headings,
page of tables.
&o., see notes
Date Size, or
Due.
Amount Rate Per When Where Payable, and by pal, WehnLast
of
Par
Stocks —
Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
on
tlrst
Brunswick Oonipony—Stock
$100
,
Bond8, gold
fOahabti Coat Mining Stock
l9t mortgage, golrt, sinking fund,
—
1891
$5,000,000
128,000
1,400,000
750,000
3,431,500
6,500,000
1,500,000
2,602,950
924,800
24,885,800
2,100,000
2,500,000
2,000,000
4,032,000
8,908,000
6,500,000
6,440,400
10,000,000
3,000,000
1,750,000
250,000
500,000
250,000
250,000
1,000
100
drawn
at
110
o*itr
Vanton Compayty^Stock
South American Tetegraph — Stock
Central
1886
1,000
100
100
rfl
1892
1886 506' &c.
1885
1,000
100
1874
500
o 1874
500
2(1 mortgage
^Equitable Gas Light & Fuel Ist mortgage
c* 1885
1,000
c 1886
1,000
Consumers' Gas Ist mortgage, gold
c 1887
1,000
Chicago Gas Light & Coke 1st mortgage, gold
Junction Railways rf Union Stock Yards— Stock.
4)hicago
100
100
Preferred, 6 per cent cuumlati ve
Collateral trust bonds, gold, $or £
c* 1890
1,000
Income bonds, 5 per cent, non-cum. (See remarks)
1892
1,000
100
<JUisetis' GasLlght of Brooklyn— BtoOa tor *2,000.000. ...
1,000
Citizens' Gas Light lstM.bus.,sub.to call aft.Apr.l,'95.c 1885
c'
1890
1,000
Consol. mortgage tor $750,000, gold
1889
Union Gas Light Co. Ist mortgage bonds
1,000
1885
1,000
Consol. mortgage, gold
Construction certlUcatea to bo converted into stock
Chetapeahe a Delaware Oaiuii—lstM. (extended in 1886)r
Chicago <t Atchison Bridge— iRt M. for $1,000,000, goia..c
4JhieaD0 Ga»— Trust Co.'s receipts of equitable interest.
o
^People's Gas Light & Coke Ist mortgage, gold
.
1%
6g.
7g.
Company's Office.
Feb. 25, 1890
D, N.Y., Knickerbocker Tr Dec. 1, 1896
Company's Office.
Jan. 25, 1892
J.'& J, N.Y.,Farm.L.&Tr.Co. Jan. 1, 1907
J.
&
7 per an. Q.-J. N.Y., Office, 37 WaU St. Oct. 2, 1892
F. & A,
5
do
do
conv. into stk.
5
J. & J. Phila. ,0f .,528 Walnut St July 1, 1916
6g. J. & J N. Y., W. & J. O'Brien. Jau. 1, 1915
Phila.. Fidel. Insur. Co. Dec. 22, 1892
See text. Quar
ivr. *.
N.Y..Cent. Tr.Si Lond'n. Nov. 1, 1904
do
do
6g. ,T. *. D.
Dec. 1, 1904
& .1. N.Y.,Cent.Tr.& Chic.Of. July 1, 1905
.r.
*, 1). Chicago, Union Nat. Bk. Deo. 1, 1936
.1.
5 g. .r. & J. N. Y., Central Trust Co. July 1, 1937
See text. 1. & .1. N. Y., Office, 45 B'way. July 1, 1892
do
do
6 per an. ,1. * .r.
July, 1892
J. *, J. N.Y., Cent. Tr.; London. July 1, 1915
I'- Seml- an N.Y. Of.— When earned. July 1, 1907
\
5
A.
5g.
F.
6
J.
J.
5g.
&
&
&
&
O.
A.
J.
J.
Company's
Ap.l, '95-1905
Office.
N. Y., Central Tr. Co.
do
do
do
do
Feb.
July
Jan.
1,
1,
1,
1940
1905
1920
American Type Founders.— Organization, &o.—Incorporated after, be issued by any of said companies. Through its Interest in said
In 1892 under laws of New Jersey to acquire and carry on the business companies the company also controlled all but $15,800 of the $1,750,000
of twenty-three comi>anies and firms, manufacturing and selling about stock of four smaller companies, three of which have outstanding
85 per cent, it is said, of the entire output of type iu the United States. the following bonds: Lake Gas Company, $300,000 Ist mortgage
Nearly all have been long established and, it is claimed, uuilormly 6s; Hyde Park Gas Co., $200,000 1st mortgage 6s; and Illinois Light
prosperous. Total assets (exclusive of good will) iuventorled at $6,- Heat & Power Co., $200,000 1st mortgage 7s these last being guaranteed by the Peoples' Company.
115,128. See aavertisement Chkoniclk of Oct. 15, 1892.
Bonds.— See application in full to New York Stock Exchange for
Stock. ^The preferred stock is entitled to an 8 per cent dividend,
cumulative, and payable quarterly; is a prior lien on the property and listing securities in Chronicle, V. 47, p. 746. The guaranty of the
assets, and is entitled to two votes for each share, as agamst one vote Gas 'Trust Co. on the bonds has lapsed, the guarantor having ceased to
exist.
ior each share of common stock. No bonds are to be issued.
Dividends.— In 1889, 4 percent; in 1890, 3; in 1891, Sept., IM Deo.,
Eaknings Expert accountants report the average annual net profits
for the last three years to be $059,496, the lowest for any one year II4; in 1892.IMarch, II4; June, IM; Sept., IH; Deo., lij.
PriceofStock- Inl8S8, 29%»44; in 1889, 34®62 inl890 32®65;
being $607,495. E-vpenaes during the last three years have been e.v(V. 55, p. 625, 638.)
In 1891, 34 ® 71%; in 1892, to Nov. 18 inclusive, 71%®9938.
xjessive, and there has been cutting iu prices.
Earnings, Etc.— A circular issued in December, 1891, by Messrs.
DIKKCTORS.— Robert Allison (President), Andrew Hickenlooper,
Joidau, John Marder, Wm. B. MacKellar (Vice President), Benedict and others in New York gave a full statement reeardlng the
G. Frederick
John J. Palmer, J. W. Phinuey, Cortlaud Parker, jr. Also two wtU be company, and was quoted in the Chronicle of Dec. 19, V. 53, p. 921.
The earnings for the past two years have been as follows, according
nominees of the New York Guaranty & Indemnity Comjiany. Officeto circular issued in January, 1892, by Messrs. Benedict. The amount
See N. Y. Guaranty & Indemnity Co.
Brunswick Company.—Owns real estate and water front in the expended for new construction in 1891 was $955,591.
Net Earnings,
Interest,.
Surplus,
«lty oFBrunswlck, Ga.
$2,389,709
$1,035,100
$1,354,609
Cahaba Coal Mining.—Owns 12,578 acres of coal and iron lanas 1890
2,787,835
1,044,250
1,743,583
In Bibb County, Alabama, with six mines in operation; also 16 miles of 1891
railroad coimectiug with the Alabama Great Southern and Louisville &
Increase (after deducting $150,000 paid the city)
$388,976
Nashville railroads. The application to the Stock Exchange was in
19,782,000
Chkonicle, V. 47, p. 441. The Teunesseo Coal <fc Iron stockholders The aggregate amount of bonds outstanding is
413,000
take action on Sept. 12, 1892, on a proposition to acquire tills property Less bonds on band
through an exchange of stock. See V. 55, p. 60. In year 1891-92 gioss
Total bonds
$19,369,000
earnings $286,257; net, $225,856; interest, $49,210 ; rentals, etc.,
$25,000,000
$11,140; dividends (1 per cent) $14,000 surplus for year, $151,505. Amount of Fidelity receipts outstanding
canceled
1 14,200
$24,885,800
In 1890-91 coal output was 50i), 631 tons; coke 58,815 tons; earnings Less amountOffice, Exchange Place.
New York
$233,761 net profit $173,577. (V. 55, p. 60.)
(V. 53, p. 59, 921, 753, 880; V. 54, p. 366, 405, 443, 485, 799.)
Central ic South American Telegraph.—Owns cable line from
Union Ktock Yards.—OrChicago Junction Railways
Vera Cruz, Mexico, to Valjiaraiso, Chili, 4,750 miles, and land lines
New
ganization.—This company,
350 miles. Also the Trans- Andine telegraph lines, 1,200 miles, pur- Jersey, has purchased 98 perincorporated in 1 890 under the laws ofYard
cent of the stock of the Union Stock
chased in 1891, and connecting Valparaiso with Buenos Ayres.
Si Transit Company of Chicago, which latter company owns the entire
Connects at Vera Cruz with Mexican Telegraph Company, and
Company.
the
owns an Interest in the direct cable between Galveston and stock of thus Chicago & Indiana StateinLiue Railroad consists of The
Chicago, and
470
controlled is situated
Coatzacoalcos, 825 miles. In Feb., 1891, the cable from Chorlllis, Peru, property
Valparaiso, about 1,650 mUes, was completed, and an Increase or acres of land (with one mile of water front) containing warehouses,
to
sheds and pens (to acconiuiodate 25,000 head of cattle, 160,000 hogs,
stock to $6,000,000 was authorized, and in November, 1891, a further
steel-tracked railway, connecting with aU lie
Increase to $6,500,000 was made to acquire line connecting Valparaiso etc.); also 130 miles of
in Chronicle July 19, 1890, and
with Buenos Ayres. In June, 1892, $1,500,000 construction certificates, railroads entering the city. See adv.
into stock, were sold at par to stockholders, to meet the ex- V. 52, p. 203.
<«)nvertible
AGREEMENT WITH PACKERS. Under a fifteen-year agreement datlne
pense of duplicating the cable between Sallna Cruz, Mexico, and Chorfrom July 1, 1891, the Chicago packers, Messrs. Armour, Morris ana
illas, Peru. These certificates are to be converted into stock within
Swift, and others, guarantee to give this company the business of packtthree years after the completion of the work. See V. 54, p. 1047.
slaughtered by them within 200 miles of Chioago.
in 1887, 6 per cent; from ing all live stock
Dividends.— In 1885 and 1886, 4 per cent;
stock passes through the Cliicago company's yards, and
1888 to Oct., 1892, both inclusive, at rate of 7 p. c. per annum; in AU this usual charges, which shall amount in tlie next six years to at
pays the
March, 1890, a stock dividend of 20 per cent was paid for surplus
least $2,000,000. All suits have been abandoued, and the Central
earnings invested in plant.
transferred to the Chicago
Earnings.- In 1891 gross earnings were $611,500; net, $388,856. Stock Yards land at Tolleston the use of Company, as well as 1,000
the remaining 3,000 acres
acres of the
Office, 37 Wall St., New York.— (V. 53, p. 880; V. 54, p. 1047.)
has been restricted. In return the company issues to the packers $3,Chicago Sc Atchison Bridge Co.—Owns and operates a railway 000,000 fifteen-year 5 per cent Income bonds. See under " Bonds "
and highway toll bridge across the Missouri River at Atchison, Kansas,
99, 297.
used by the Chicago Rock Island & Pacific, Hannibal & St. Joseph, Kan- below. See V. 54, p. 328, 923; V. 55, p.was made with the remaining
In July, 1892, a five-year contract
sas City & Council BlulTs, Mlssomi Pacific and Atchison Topeka & Santa
packers, the so-called Stickuey packers. See V. 55, p. 99.
Fe railway comjianies. In 1889 gross earnings, $122,817 fixed charges
common
$6,500,000;
Capital Stock.and expenses, $100,246 ; surplus, $22,570. In 1890 gross, $118,429; ferred, $6,500,000. The preferredstock authorized is (cumulative) preand
stock is 6 per cent
The
fixed charges and expenses, $94,933 surplus, $23,495.
priority over common as to all assets.
in case of liqiudation wUl have
Chicago Ca».— History.—The Chicago Gas Trust Company was
Dividends.— On preferred, 6 per cent yearly to date. On common,
Incorporated in Illinois in 1887 to acquire gas properties in Chi in 1891 10; in 1892. January, 4; July, 4.
cage. In AprU, 1890, its name was changed to the Chicago Gas Com
Bonds.- The coUateral trust bonds are secured by deposit with the
pany, and in April, 1891, the stockholders deemed it expedient to sur- Central Trust Company, trustee, of over 90 per cent of the stock of the
render their charter to the State, the courts of Illiuols having decided Union Stock Yard Transit Company. The $3,000,000 income bonds
that the holding of stocks in constituent companies was illegal. The issued to the packers are 5 per cent non-cumulative incomes, carrying
Fidelity Insurance Trust & Safe Deposit of Philadelphia, which held iu interest after payment of interest on the collateral trust bonds and the
Irust all the securities belonging to the old company then, upon 6 per cent dividend on the preferred stock; when earnings suffice
request therefor, issued to the holders of Chicago Gas certifloates, after payment of prior charges as aforesaid, the company will set aside
trust receipts for an equitable interest In the securities so held. $200,000 yearly for their interest and sinking fund. See V. 54, p. 328.
Bee V. 53, p. 21. The dividend was Increased to l^a per cent in
ANNUAL Rei'ORT.- Fiscal year ends June 30. Annual meeting in JerDecember, 1892.
City first Thursday iu July. Report for 1891-92 V. 55, p. 99.
Trust Receiits.—These represent all the property that the Chicago sey
'This company owns 129,91(5 shares of the capital stock of the Union
Gas certificates ever represented, and certify that the holder is entitled Stock Yard & Transit Company of Chicago, purchased at a cost of $22.i/O his ratable proportion of the ownership In all the stocks held by the 611,424.
The gross and net earnings of that company during the three
Fl<*elity Company (sulyect to the Uen of the bonds), and has the right to
years ending June 30, 1892 (estimating June, 1892), were as follows:
receive the dividends thereon and to vote the same as he may choose.
Gross Earnings. Net Earnings.
DEALINGS WITH CiTY.— In June, 1891, a settlement was reached
$1,717,809
$2,668,386
by the several companies on the basis of the city get- Year ending June 30, 1890
2,863,633
1 ,800,458
Year ending June 30, 1891
tuiK 31a per
cent
of
the
gross
receipts,
or
at
least
1,829,420
2,947,455
1892
$150,000 per annum, and paying $1 per 1,000 feet for its Year ending June 30,
The profits of the C. J. B. & U. 8. Y. Co. have been as follows
^
the price of gas to other consiuners to remain at $1 25 until
^as
1891-92.
1890-91.
1893, when a reduction of 5 cents in the price should be made each year
following until $1 has been reached. See V. 52, p. 939. In July, 1891, Dividends of U. S. Y. Co., int. on deposits, &c.. $1,713,473 $1,706,440
and extraordinary expenses,
a rival company called the Economic Fuel Company was formed, but Taxes, ordinary
164,705
legal, salaries, rents, &e
J67,247
In February, 1892, its entire stock of $750,000 was purchased in the
500,000
500,000
interest of the Chicago Gas Co.
The Chicago City CouncU then Interest on bonds
889, 204
988,117
Dividends
declared the franchise of the Economic Co. forfeited and ordered the
company's plaut in Chicago to be taken possession of, the principal
$1,652,822 $1,556,451
Total payments
reason for this being the violation of the agreement not to combine
$149,989
$60,651
with other companies. See V. 54, p. 366, 405, 799.
Surplus
Securities Owned.— Company owned $14,887,625 of the $14,984,200
Directors.- Chauncey M. Depew (Chairman), John Qulncy Adams
stock of the companies whose bonds are given in the table above, and (President), Edward J. Phelps, of Burlington, Vt.; W. J. Sewell, Camthis stock was deposited in trust for the benefit and security of the den N J.; F. H. Priuce, Boston; Fred II. Wiuston and Albert H. Vccilcr,
shareholders of the Chicago Gas Trust Company, and for the security E. J. Martyn of Chicago, Hugh C. Childers and Adolph Vo« Andre, Of
of the holders of the mortgage bonds that were then, or might there- Loudon, England.
;
—
;
;
^^^^
;
,
—
;
&
—
;
;
,
;
—
f
NOVEUBKB,
1898,]
MISCELLANEOUS STOCKS AND BONDS.
Idl
.
199
IIS
SUPPLEMENT.
VESTORS'
;
:
(Vol, LV.
Sabscrtbera nrlll confer a great favor by glvinic immediate notice of any error discovered in tbeae TabFes.
MISCELLANEOUS.
OR DIVIDENDS.
Date Size, or
Amount Rate per When Where
Par
For explanation of column headings, Ac, see notes on of
payable, and by
first page of tables.
Bonds Value. Outstanding Cent. Payable
Whom.
KJlaflin (II. S.)
INTEREST
Company— Conunonstock
$100
100
100
100
100
Istpref. 5 per cent, cumulative
per cent, cumulative
2d
Ootorado Fuel it //-on— Common stock, $11,000,000
Preferred stock, 8 per cent
Col. Coal & Iron 1st consol. M., gold, s. f., not drawn, .o'
Colorado Fuel Co's gen. mort., gold, s. f. red. at 110. .c"
Denver Fuel bonds
Col. Fuel & Iron coneol. mortgage for $6,000.000
Grand River Coal & Coke Ist mortgage, gold, see text.c*
Columbus dHoek. Coalttlron Co.—Stock, $190,000 Is pref.
Ist M., g. (13,351 acres land, mines, Ac, s. f., not dr'n.o*
Oommcrcial Cable— Stock ($10,000,000)
Debentures pavable £40,000 to £120,000 per annum..
ijomstock Tuniut—liicoino, non-cum. ($3,000,000),gold.o*
.-.
ComolUlaled Electric Light— Stock
Debenture bonds, sinking fund
...,.
o
Consolidation Coal of Jfart/ia?Mi—Stock
.__
Ist mort., consolidated, convertible into stock at par. .c
Consolidated Cos (N. Y.J Stock
Knickerbocker Gaslight, Ist mortgage, siiiking fund.o*
Metropolitan Gaslight Co., Ist mortgage
o'
Debentures
r
pref. 6
—
1880
1889
$3,829,100
2,600,300
2,570,600
9,250,000
2,000,000
3,101,000
1,043,000
100,000
1,000
1,000
1892
1889
1,000
1887.
1,000
See text.
5 per an.
6 per an.
N. Y. ,Olflce
do
do
8 per an.
?«• F.
6g. M.
&
A
— Church St
do
do
A,
New York, Office.
N. N. Y., Atlantic Trust Co.
Ho)k/«— Prlnol
pal. When
Due.
—Last
Stocks
Dividend.
Oct. 15, 1892
Nov.
Nov.
1,
1,
1892
1892
Feb. 1, 1900
May
1,
1919
<1)
100
100
1889 500 Ac.
100
'ioo
1,000
1872
100
1878
1,000
1881 500 Ac.
1888
1,000
Consol. Kan. City Smelt'g it iJe/l»i'c^-Stock,$2,500,000 au.
25
Ist M., gold, sul)tject to call at 1(55 after May 1, 1895. .o* 1890
1,000
t>tin.'ctr Oily Oafiie— 1st mortgage, gold
o*Ar 1888
1,000
Officeks.— President, John (Julnoy Adams; Vice-President, Wm. J.
Sewell; Secretary, WilUam 0. Lane Treasurer, Thomas Stur gis. New
York office. No. 45 Broadway.— (V. 52, p. 203, 204, 238; V. 53, p. 21,
126, 186, 435, 968; V. 54, p. 328, 405, 923; V. 55, p. 58, 99. 297.)
Citizens' Gas I.lglit (Brooklyn.)—Stock listed on New York
fltock Exchange in May, 1892. The official statement to the Exchange
was given in full in V. 54, p. 888. On April 1, 1892, number of meters
in use, 6,931; street lamps, 1,386; miles of street mains. 76^3. President, S. A. Lathrop.
ClaOin (H. B.) Company.— Incorporated under the laws of New
Jersey in May, 1890, to carry on the mercantile business of the Arm of
H. B. (nafliu A Co., of New York City, Mr. John Clafliu agreeing to liold
$3,000,000 stock and to remain President of the company till May,
1895, if agreeable to stockliolders. Preferred stocks have preference
both as to principal and dividends. The company's premises have a
frontage of 375 feet on Worth Street, and with all appurtenances are
valued at $2,738,027, its total assets July 1, 1892, including merchandise, accounts receivable, etc., being put at $15,102,359.
DiviuENDs.— On preferred stocks full dividends to date. On common
stock in 1891, 10 per cent; in 1892, January, 2; April, 2; July, 2 Oct.,
2. In Sept., 1891, it was decided to pay the dividends on the first preferred stock hereafter in gold. The option of converting preferred
stock into common stock expired May 6, 1892, and annual charges for
dividends alicad of common stock are now fixed at .$284,251.
Profits applicable to dividends were
In first half 1892. $358,280,
<against $354,661 in 1891); surplus over dividends on preferred stock
and 4 per cent on common, $63,048; net profits
1891, $658,096; in
1889, $784,000; in 1888, $706,000; in 1887, $766,000. Total surplus
reserve for common stock July 1, 1892, $342,384. Office corner Church
and Worth streets. New York. (V. 53, p. 94; V. 54, p. 203 V. 55, p. 99.)
Colorado Fnel
Iron.— C.See lfa».;— Organization and PropBRTV.— Formed in Oct., 1892, by consolidation [per plan in Chronicle,
V. 55, p. 373, 639,1 of the Colorado Fuel and the Colorado Coal A Iron
Cos., the former eontrolling the Grand River Coal A Coke and the Denver
Fuel companies and the Huerfano Land Association. It thus became
the owner of tlie following properties 69,000 acres of land, containing
it is claimed, 400,000,000 tons of proved coal deposits, including the
only anthracite coal mines west of Pennsylvania; 800 coke ovens;
15 coal mines, with dally capacity of 12,000 tons of all kinds of coal;
steel works at Bessemer, including 3 blast furnaces, capacity 3(X) tons
pig iron per day rail mill, capacity 300 tons per day; bar "mill; pipe
tlant, 30 tons per day iron mines and cash and convertible assets of
1,216,568. The agricultural and town lot property of the Colorado
oal A Iron Co. was turned over to the Colorado Coal A Iron Development Company, whose $6,000,000 of stock wa.s then given t» the Colorado Coal A Iron Co. stockholders, the Development Co. receiving
also $1,049,190 notes for deferred payments on lands sold and assuming the payment of the Coal A Iron Co.'s biUs payable, leaving that
;
768,000
6g.
4,890,000 2'sonpf.
985,000 ,
6g.
7,716,000 7 per an.
£200,000
6
$1,908,000
4g.
2,500,000
IH
163,100
6
10,250,000
2
1,100,000
6
35,430,060 6 i)er an.
400,000
6
658,000
6
1,500,000
5
2,250,000 See text.
1,000,000
8f
3,397,000
6g.
O.
New York.
Apr. 1, 1919
A A. N. Y., Office, 80 B'way. Aug. 20, 1891
A J. N. Y., Amer. Ex. Bank. Jan. 1, 1917
Q.-J. New York, 1 Broadway. Oct. 1, 1892
J. A J. New York and London. 1893 to 1900
M. A N, N. Y., Office, 1 15 B'way. Sept. 1, 1919
Q.-J. N.Y.,Co.'sOf.,32 Nassau Oct. .1, 1890
J. A J. N.Y., Am.Exch. Nat.Bk.
1892-1895
N.Y.,Co.'sOf.,71 B'way. Feb. 1, 1892
J. A J.
do
do
Jan. 1, 1897
Q.-M. N. Y., Office, 4 Irving PI. Sept. 15, 1892
J. A D.
do
do
June 1, 1898
F. A A. N.Y.,Farm. L.ATr.Co. Aug. 1, 1901
M. A N. N. Y. Office, 4 Irving PI. May 1, 1908
F. A A. N. Y. Of., 20 Nassau St. Feb. 1, 1892
M. A N.
do
do
May 1, 1900
J. A J. N. Y., Talntor A Holt. Jan. 1, 1908
A.
A
F.
J.
,
premises goes to a sinking fund; bonds tendered may be purchased at not
above 105. Dividends on preferred
In 1891, February, 2^ per cent
August, 21a; in 1892, none.
In fiscal year ending March 31, 1891, gross earnings were $1,190,011:
net, $147,638 (against $121,225 In 1888-89); surplus over Interest,
taxes and dividend on preferred, $ijl,012; from which paid royalties
on coal not owned in fee, $17,743; car rentals, $3,221: discount,
$18,255 improvements, $8,220 balance, $13,572. New Y^ork office.
80 Broadway.(V. 52, p. 507, 643, 831 V. 53, p. 187, 288.)
Commercial Cable Company.—This is popularly known as the
Mackay-Bennett Cable Company, owning two cables from Nova Scotia
to Ireland one from Ireland to Havre, France one from Ireland to
:
;
;
;
;
Bristol,
;
England; also one from Nova Scotia to
New York and one
to
Rockport, Mass., Ac. In September, 1887, the stock was raised to $6,000,000, and in October, 1888, to $10,000,000, of which sufficient is reserved to redeem the debentures, Ac. Dividends— In 1889, 1^2 p. c; in
1890, 6 per cent; in 1891, 7; in 1892, Jan., 1%; April, 1^4; July, 1\.
On Jan. 15,1891 and 1892 company elected to pay off £120,000 debentures, iielng the maximum amount payable per annum. In 1891
gross earnings, $1,904,717; net, $1,085,324; dividends, $340,120; balance, surplus, $545,200. Mr. J. W. Mackay, President, 1 Broadway,
New York.— (V. 50, p. 71, 706, 735; V. 54, ii. .525.)
Conistock Tunnel <"o.—Owns the Siitro Tunnel on Comstock Lode
for facUitatlug gold and silver mining operations. The property was
foreclosed January 14, 1889, and this company formed in September,
1889, witn 2,000,000 shares of $2 each, making $4,000,000 capital,
against $20,000,000 of the old Sutro Tunnel Compauv. The company
has contracts with a number of mining companies for payments of royalty at the rate of 4 per cent on the bullion yield at market price in
gold. The reorganization plan provides that one-half the surplus income above interest shall be applied to purchase of the bonds if obtainable at or below 75, and in March, 1891, about $90,000 was devoted to this purpose, thus reducing the funded debt by $231,000. In
May, 1892, no interest was paid on incomes, and on Nov. 1, 1892, II3
per cent was paid.
Annual Report.— Report for year ending August 31, 1892, was in V.
55, p. 599, showing how the company's earnings have been affected by
the fall in the price of silver and the reduction in the amount of ore
taken out. In year 1891-92 royalty received was $71,401 (against
$157,631 in 1890-91)
other earnings, $20,301
misoellaneous receipts. $8,567 back royalty, $22,855
balance per previous report,
$103,095; total receipts, $226,719. Disbursements— Operating, etc.,
expenses, $72,137; bond interest paid, $34,390; extraordinary expenses, $42,090; balance forward Aug. 31, 1892, $73,082. The output
of ore by certain companies has been only 152,809 tons, valued at
$2,427,000, in 1891-92, against 209,025 tons, valued at $3,175,000, in
1890-91. New York oflice. No. 115 Broadway. (V. 53, p. 5 1 9, 604;
V. 55, p. S99.)
ConsoHdated Electric Light.-The property of this company in
company free from floating debt.
New York A Pittsburg is leased to the Westinghouse Electric Company
Stock.— The authorized capital stock is $2,000,000 of 8 per cent
cumulative preferred stock and $11,000,000 common stock. The pre- for $150,000 per annum and one cent royalty on every incandescent
ferred stock was given share for share for the preferred of the Colorado electric lamp manufactured by the lessee. For statement made to New
Fuel Company. Of the common $9,250,000 was useii to retire the com- York Stock Exchange on listing stock, see Chronicle, V. 48, p. 428'
mon stock of tlie Colorad.i Coal & Iron, the Colorado Fuel, etc., com- In 1890 stock paid 4% per cent.— (V. 48, p. 420, 428 V. 49, p. 434.)
panies, and $1,750,000 remains in the treasury.
Consolidated das of
York.-This company was organized
Bonds.— The consolidated company assumes the bond" of the Colo- November 11, 1884, under chapter 367, laws of New York, 1884. The
rado Coal A Iron, tlie Colorado Fuel and the Denver Fuel Company, companies merged iu it were the New York Gaslight, the Municipal Gasand will execute a consolidated mortgage for $6,000,000 covering its light, the Metropolitan Gaslight, the Manhattan Gaslight, the Knicker«ntire property, $4,244,000 bonds secured by which will be reserved bocker Gaslight and the Harlem Gaslight. The total stock was
$39,to retire the prior bonds at or before maturitv; the balance will lie 078,000. of which $3,647,940 was reserved for working capital and for
held
the treasury. Colorado Coal & Iron Development bonds for indebtedness of old companies. (V. 46, p. 418, 537.)
$700,000 were guaranteed by the Coal A Iron Co. prior to consolidaConsolidated Kansas City Smelting Sc Reflning.—Incortion. The Grand River Co.il & Coke Co.'s bonds are not guaranteed, but
laws of New York, and owns extensive worlcs at
a minority of the company's stock is owned by the Colorado Fuel A Iron. porated in 1887 underof Kansas
City, for smelting and refining lead,
Earnings.- In 1891 the companies in the consolidation produced Argentine, a suburb
silver and copper ores. Also has smelting works near El Paso, Texas,
2,200,000 tons of coal anil coke—two thirds the production o^ the entire State. The yearly increase has been from 25 to 30 per cent. The and crusliing and sampling works near Leailville, Colorado. In Mexisaving on account of the consolidation, it is said, should l)e large, co it operates under lease three valuable mining properties. An inwhile maintaining the selling price during the dull mouths should crease of stock from $2,000,000 to $2,500,000 was authorized in Janufurther increase the revenue. It Is claimed there will also bo a large ary, 1892, for additional copper smelting and rettulng works. The entire $2,500,000 stock will be full paid in January, 1893. Dividends
saving iu managerial exi>enKes.
The plan of consolidation presented the following statement of an- from August 1, 1887, to February, 1892, both Inclusive, at rate of 10
per cent per annum. No dividend will be declared till end of 1892. See
nual fixed charges, etc., for tlie consolidated company:
hilldcscriptlonof property in applications to N. Y. Stock Exchange in
Bond interest. $4,244,000 at 6 per cent
$254 640 00 V. 48, p. 69, and V: 54, p. 370). In 1891 net earnings were
$525,000.
Preferred stock dividend, $2,000,000 at 8 per cent
160,000 00 Mr. N. witherill, Vice-President, 20 Nassau Street, N.
Y. City.
Consolidation Coal.— Report for 1891 was in V. 54, p. 524.
Total fixed charges
$414,640 00
Earnings on basis of present operations
1890.
1891
1,200,000 00 Tlie gross receipts from mines, railroads, rents,
Ao.(including value of stock of coal on hand).$2,583,092
$2,581,338
Surplus...
$468,456
.$384,383
$785„360 00 Net receipts
The interest in 1891 took $122,729; balance, surplus. $261,656.
Eequlsite for 8 per ct. dividend on $9,250,000 com. stock. 740,000 00
Baltimore A Ohio Railroad owns $3,810,000 stock.
This company guarantees also $1,000,000 bonds of the Cumberland
^Surplus
$45,360 00
Directors.-John C. Osgood, Henry R. Woloott, Dennis Sullivan, A Pennsylvania Railroad, which it owns, and assumes $55,000 of the
John L. Jerome, Charles H. Toll, William H. James, J. A. Kebler, of Union Mining Company's bonds. Dividends since 1880— For 1881, 2
penver; Paul Morton, of Chicago; E. J. Berwind, C. F. Meek, E. K. per cent; for 1882 and 1883, nil for 1884 and 1885, 1 for 1886, %
McHarg, Ernest Thalmann, of New York W. H. Graham, of Pueblo. for 1887,113; for 1888, 214; for 1889,2; in 1890,2; in 1891, 2 pe'
cent; in 1892, February, 2. (V. 52, p. 390; V. 54, p. 524.)
J. C. Osgood, President. Office. 18 Broadway, New York.
-(V. 53. p. 257, 435
V. 54, p. 202, 559, 643
V. 55, p. 22, 100, 145,
Delaware Division Canal.—See Lehigh Coal A Navigation.
i177,331,373,639,678,679.
Denver City
extensive system of cable lines in
Colnmbus Sc HocliInK Coal &. Iron Company.—Organized at Denver, Col., and Cable.—Owns an right to operate horse railways In
has the exclusive
Columbus, O., January 26, 1883, and owns large c«al and iron proper- that city till 1902. Mileage owned Cable lines, 30 miles single track
ties, with extensive works thereon, in Ohio, a full description of which horse car lines, 10 mUes single track
total owned and operated May
was published in the Chronicle of February 26, 1887, V.
278. 1, 1892, 40 miles.
Stock authorized. $3,000,000; outstanding,
The Central Trust Company of New York is trustee of the 44, p.
mortgage. $2,770,000; par $100. See application to New York Stock Exchange
After May 1, 1888, two cents on every ton of coal from the mortgaged at length in Chhonicle, V. 50, p. 487. (V. 54,
p. 203.)
;
:
m
;
&
;
;
;
;
;
;
;
;
;
New
m
;
;
;
;
;
.
,
.
.
:
;
:
November,
"
;
MISCELLANEOUS STOCKS AND BONDS.
1893.]
ISS
Subscribers will confer a great favor by (Ivlng Immediate notice of any error dlaeovere
In tlieae Tables.
Bomt»— PrlnolINTEREST OR DIVIDBMDS.
pal.Wken Ducl
Per Wben Where Payable, and by Bloeka—Latt
MI8CELLANEOU8.
Date Size, or
Amount Pate
Par
of
For explanation of ooluuin boadingH, die, see notice on
"
Bonds Value. lOutstanding Cent.
first page of tables.
Denver CUy ITater— General M. for $7,000,000 gold
Denver Consolidated G««— Stock
1890
...0'
l8t mortgage, gold (see remarks)
$1,000
1891 lOo' ib.
1888
1,000
Denver Tramway— 1 st mongago, gold
o*4r 1890
1,000
Consol. mortgage, for $2,000,000, gold
1,000
Met.St. KU. Co. lstM.fiir$l,0O0,000 ($20,000 p.m.)g.gu. 1891
DelroUMaek.itManmelleLandCo.—M. (Inc.) red. utlOO.r 1881
1,000
100
Detroit Union RR. />epo(<£A7a/io)i—Stock,$2,500,0O0 aut.
Cattle Feediny- Stock
100
Distilling
100
Edison Khclric Illuminating of Brook Ign—Btook
1,000
IstM. ($2.500,(K)()) ,g., siib.to call atllOaft.Oo.1,1900 c'4r 1890
100
Sdison Electric Illuminating of Ifew York Stock
1,000
IstM ($5,000,000)g.,conv.,red.atll0aft.8ept.l,1900.c' 1890
100
Qe^ieral Electric Stock
Bdisor.
100
Jlquitable Oas LigKt Co. of Ifem York—Stook
mortgage
1,000
First
Consolidated mortgage for $4,000,000, gold
1892
1,000
100
Erie Telegraph <t Tflephone—Htouk
1893
1,000
Collateral trust siulJing fund gold bonds
Ist mortgage, gold
Fort SI. Union Depot (Detroit)
o* 1891
1,000
100
QeneriU Electric Common stock
100
Preferred stock 7 per cent cum. (not pref. as to assets).
1,000
Debcnture8,$10,000,000, gold, convert
c 1892
1889
1,000
T. H. El. coUat.trust, g., red., at 105 aft. July, 1899.
c*
rf-
—
—
—
Denver City Water.—Owns water works supplying the city of
Denver, Col., and suburbs. The geueral mortgage (trustee. Central
Trust Co. of N. Y.) is for $7,000,000, but of this amount $2,712,000
are held to retire prior lien bonds, $2,000,000 of 78 of which prior
bonds arc due Jan. 1, 1895, and tlie rcKt are past due. Capital stock,
common, $5,000,000; pref., $2,000,000. In year 1890-91 gross earnings were $384,155, against $308,444 in 1889-90. In October, ] 892.
foreclosure suit was instituted uuder the general mortgage, interest
on the bonds lieing in default. About two-thirds interest due Nov.,
1S91, was paid. Keceiver is Dennis Sullivan.
Denver Consolidated Gas Co.—Organized Nov. 16, 1891, to take
over the old gas company in Denver, Col. Capital stock, $1,500,000.
Mortgage covers all the corporate property ,.which includes valuable real
estate in Denver. The bonds are subject to redemption at 105 and
Interest In case of any sale of i>roi)erty under the mortgage. Quarterly
dividends of 1 p. ct. paid in April, Julv and October, 1892. Gross
earnings year ending Jan. 20, 1892, $374,027; net, $194,803; year
ending Jan. 20, 1891, gross, $358,918; net, $180,765. Hon. J. B. Grant,
Denver. Presidtnt.
Denver Traniivay.—Owns 18 miles of cable road and 35 miles of
electric railway in the city of Denver, Col., and leases the Metropolitan
St. ER. 26 miles, guaranteeing its bonds principal and interest. See
"
Payable
Whom.
M. <fc N. In default-See text.
$1,288,000
1,500,000 See text. Q.-J. N.Y.,MaltIand, P. & Co.
J. & J. N. Y.,Atlantlo Trust Co.
1,500,000
Denver.
J. & J.
498,000
New York City,
1,219,000
J. & J.
do
021,000
J. & J.
Bee text.
A. dt O.
3,143,000
Detroit.
2,2.50,000 See text.
Q.-J.
Peoria, 111.
35,000,000 See text.
Brooklyn,
1,500,000 See text. Q.-F.
do
500,000
5 g. A. & O.
0,100,000 See text. CI.-F. N.Y., Of.Pcarl cor. Elm.
3,100,000
6g. H. & 8. N.Y.,Guar. & Indem.Co.
N.Y.,OIBce,42 Broad St.
15,000,000 8 per an.
N. Y., Omce,:M0 3d Av.
4,000,000 8 per an
F. &. A. N. Y., Central Trust Co.
1,000,000
6
1,600,000
5 g. M. & S. N. Y., Central Tnist Co.
4,800,000 4 per an. Q.-F. Co. '8 Of., Lowell, Mass.
500,000
Cg. J. & J Bost. Saf e De p. & Tr. Co.
1,000,000
4 lag. J. & J. N. Y. Central Trust Co.
30,395,000 See text. Q.-F. C08.0f.,N. Y. ic Boston.
do
do
per an. J. & J
4,235,300 7
4,000,000
5 g. J. & D Now York and Boston.
N.Y., Holland TrustCo,
500,000
5g.J J. <t J
.
Dividend.
Nor.
Oct.
1,
1,
1»10
1802
Nov. 16, 19H
July 1, 1908
Jan.
Jan.
1,
1910
1,
Oct.
Oct.
Oct.
1,
1,
1.
1,
I.
1,
1,
1911
1911
1892
1892
1802
Nov.
Oct.
Nov.
Mcb.
Nov.
2,
Oct. 15,
1940
1892
1910
1892
1892
1899
Aug. 1,
Mar. 1, 1932
Nov. 14, 1892
Jan. 1, 1903
Jan. 1, 1041
Nov. 1, 1892
New.
June 1, 1922
July 1, 1919
Edison EleMrle IllumlnatlnK of Brooklvn.—Stock and
listed on N. Y. Exchange In September, 1892. See adv. Chronicle of March 12, 1892. Stock Increased from $600,000 to $1,500,Sept. 4, 1890. Dividends— From June, 1891, to Nov., 1892, 4 per
cent per annum, payable fiuarterly. Mortoagr— Trustee Franklin
TrustCo. Earnings- From Jan. 1 to Aug. 31, 1892 (8 months), gross
$130,046; net, $50,363. In year 1891 net, $59,232. Office— No. 36<>
Pearl Street, Brooklyn.— (V. 55, p. 551.)
bonds
000
Edison Electric Illumlnatlne Co. of New York.— Listed
New York Stock Exchange May, 1889. See application in V. 50,
on
906. Stock was Increased to $-1,500,000 February, 1891. Dividends
from 1885 to 1891, both Inclusive, 4 twr cent per annum; In 1892, Feb.,
II4; May, 1»4; Aug., II4; Nov., II4. In 1887 an extra dividend of 7 p. o.
and in 1891 of 5 p. c. was paid In scrip, afterward retired. On May 31,
1892, the stockholders voted to increase the capital stock from $1,500,000 to $6,500,000, and to issue an additional $1,000,000 of l.^t m. 58; of
these amounts, $200,000 bonds and $300,000 stock will remain in the
companv's treasury; the remainder will all be issued in the course of
1892 to retire the convertible tcrip, pay for new construction, license
rights, &c. In 1891 gross, $675,505; net, $347,228, against $229,079
in 1890. Annual reiwrt for 1891 was In V. 54, p. 366. SpenoerTrask,
President. General office, Pearl St., comer EUn St.— (V. 53, p. 95; V.
advt. of boud.s Chronicle Oct. 22, 1892. Full abstract of the consol- 54, p. 202, 366, 469, 1,048; V. 55, p. 256, 639, 723.)
idated mortgage was in Chronicle, V. 52, p. 354. (V. 52, p. 350, 352.)
Edison General Electric—See the General Electric Co.
Detroit ITIacklnae Sc Marquette I>and Grant Bonds.— Owns
Equitable Gas Llsht Co. of New York.— Incorporated March
about 1,300.000 acres of land in Northern Michigan, along the line of 9, 1882. Owns three blocks between Thirty-ninth and Forty-second
Lands are free from taxation Streets, First Avenue and East Elver; also 32 lota between Fiftythe Detroit Mackinac & Slarquette EK.
Of the total issue of $4,560,000 bonds, $1,417,000 had been eighth and Fifty-ninth Streets and Tenth and Eleventh avenues, and
till 1895.
purchased and canceled prior to July 21, 1892, at prices ranging from four lots southeast corner Eleventh Avenue and Fifty-ninth Street.
29 to 30^2 per cent. In Octolier, 1892. 2 per cent interest was paid at Total assets January 1, 1889, $6,185,870, Including mains about 114
Central Trust Co. V. 55, p. 589. James Mc Millan, Deti'oit, President. miles; gas works valued at $2,501,952; real estate at $1,190,922. In
—(V. 54, p. 33, 328 V. 55, p. 589.)
1888-89 $1,000,000 new stock was issued. Dividends— In 1886, 5'a per
Detroit Union RR. Depot & Station.— Owns 40 acres of cent; from 1887 to Oct., 1892, both inclusive, at rate of 8 per cent
terminal property at Detroit, 5lich., Including 3^ miles steel track, yearly. In 1892 the consolidated mortgage (Central Trust Co., Trusfreight house, giain elevator, etc., all except the elevator leased to the tee), was Issued, the certificates of indebtedness and the purohaso
Wabaah, the Flint & P. M. and the Detroit Lansing & Northern RE. money mortgages being discharged. The mortgage covers all the real
companies. In year 1891 receipts from rentals, elevator, etc., were and personal property and rights and franchises of the company. Of*
128, 956; expenses, including taxes, insurance and expense of elevator, fice, 340 Third Avenue. (V. 48, p. 129 V. 54, p. 643.)
t 27,574; net income applicable to dividends, $101,382. In 1892 all
Erie Teleeraph Sc Telephone Co.—Tliia company owns 65 per
the bonds were retired, in exchange for stock. Dividends, for several cent of the Cleveland Telephone Co.. 70 per cent of the Northwestera
years previous 4 per cent per annum, were in 1891 increased to i^ per Telephone Exchange Co., and 70 per cent of the Southwestern Tele
cent, I'a per cent being paid in January, 1892; In April and July, 1892, graph c& Telephone Co., operating in the States of Ohio, Minnesota,
each 1 per cent. James F. Joy, President. (V. 53, p. 59; V. 54, p. 725.) North and South Dakota, Texas and Arkansas, under licenses from the
Distilling; & Cattle Feeding;.—This company, incorporated un- American Boll Telephone Co.. and having on July 1, 1892, a total of
der the laws of the -'tate of Illinois, owns diatilleries as follows: In 14,429 subscribers. Stock, $5,000,(XX), of which $200,000 Is in tha
Illinois, 29 (of these 8 in Chicago and 14 in Peoria)
Ohio, 16 (of these treasury. Notes payable were $135,000 on March 31, 1892. Bonds for
$500,(K)0 were authorized in 1892, of which $200,000 to be hold in
8 in Cincinnati) Indiana, 1 1 Missouri, 7 Wisconsin, 2 Minnesota, 1
Kentucky, 7 Nebraska, 2 Iowa, 1 New York, 2 California, 2 total treasury.
Dividends have been-In 1883 (6 months) IH per cent; In 1884, 2>«;
distilleries, 80. Also one alchohol works in lUinoia and 3 in Iowa.
Stock listed on New York Stock Exchange in September, 1890. Addi- 1885,>9; 1886, 2^; 1887, 2ia; 1888, 4; 1889, 3%; 1890,4; in 1891,
tional capital stock for $3,498,400, making total amount listed, $35.- 4 in 1892, 4. Transfer omce, Lowell, Mass.
For the year ending March 31, 1892, the three companies controlled
000,000, was sold in .luue, 1891, at $45 per share for the purchase of
the Shufcldt and Calumet distilleries at Chicago. (See V. 54, p. 682.) report gross income of $866,334, (against .$791,067 in 1890-91); gross
In Nov., 1892, proposed to acquire live other distilleries. V. 55, p. 856. expenses. Including dividends paid, $838,853; surplus, $27,481. For
Dividends.— Dividends, previously ^a per cent monthly, were in June, the same period the proportion of dividends received from these com1890, Increased to J4 per cent monthly, in October to % per cent. In panies by the Erie Tel. & Tel. Co. was $215,35 7; dividends paid by
per cent) $192,000; surplus, $23,357; exNovember to "a per cent; the dividends from December, ISiJO, to July, the Erie Tel. & Tel. Co. (4surplus,
$15,228. OSBce, Boston.
1891,lnclusive, being at that rate; dividends then changed to quar- pense account, $8,128; net
terly, and in October paid
per cent and January, 1892, IJ^ per
Fort Street Union Depot (Detroit.)—Owns depot property at
cent; in April, 1 per cent, and In July, is of 1 per cent, on account of Detroit, Mich., which Is leased In perpetuity to the Wabash, the Flint
threatened legal proceedings; in Oct. ^a of 1 per cent.
& Pere Marquette, the Detroit Lansing & Northern, and the Canadian
Annual REroET.— Fiscal year ends March 31. Report for 1891 92 Pacific, 'rhe lease provides for the payment of a net rent which shall
(V. 54, p. 682) says "While it has been necessary, on account of our past be equivalent to all the annual charges and 5 per cent per annum upon
indiscretion, to run our business for some time on a smaller margin of the total cost of all the property, to be paid by the lessees in monthly
profit than would ordinarily have been required, such conservative Instalments. The mortgage (trustee. Central Trust Co. of New York),
policy, however, will win in the end, and our competitors, or those con- covers the lands, buildings, tracks, franchises, etc. Capital stock, full
templating to become such, must realize and understand that this com- paid, $1 ,000.000; par $100.
pany is in the field to stay, and that it will protect its trade at all
General Electric Contpany.—OEOANIZATION.—Organized under
hazards, even should it become necessary for an indefinite period to put the laws of New York, April 15, 1892, forlhe purposeof manufacturing,
the prices of our product on such low basis as to earn little or no profits, using and selling all kinds of' electrical and other apparatus, wltA
and irroai>ective of the results such course may produce in the direc- l>ower to acquire, hold and <leal in the stocks and securities of other
tion of paying dividends on our stock."
electrical coriM>rations, and to carrj- on a general manufacturing busiThe following is a comparative statement of sales of the company's ness. It has acquired practically all of the capital stocks of the Edison
product, coveting the last four fiscal years, viz.:
General Electric, the Thomson Houston Electric and the ThomsonHouston International Electric companies, but the separate organizaBales for fiscal year.
Gallons.
Bales for fiscal year.
Gallons,
1888 89
35,867,211 1890-91
44,738,171 tion of these corporations Is retaine^l for the present.
1889-90
40,832,220 1891-22
In October, 1892, the U. 8. Circuit Court sustalutHl this company's
45,661,717
A summary of the company's financial statement for the fiscal year right to the sole manufacture of Incandescent lamps, under certain
patents having 3^ years to run. See decision V. 55, p. 590.
ending March 31, 1892, shows as follows
Cash assets Apr. 1 '91 $2,069,079 Dividends paid
Cai'ITAL Stock.- The total authorized capital stock is $.'>0,000,000,
$1 ,890,698
Earn, from op. plants.. 2,466,080 Expenses paid
442,306 of which $10,(X)0,000 may be pref. 7 iwr cent cumulative, without
Earn, from contracts...
137,415 Cash assets Apr. 1, '92. 2,395,822 preference as to principal. In Novemljcr, 1892, there was reserved
Earn, from rentals
5,577
for stock of the abaorbed companies unexchanged common, $64,400,
Xam. from interest
50,668
Total
$4,728,827 and preferred, $16,7lK), leaving unissued and in the tn^asury of the
Cash assets Apr. 1, '92. 2,395,822 company stock of the issue authorized to the amount of $15,288,000.
Total receipts '91-92. .$4,728,827 Cash assets Apr. 1, '91. 2,069,079
"The Edison General Electric stock was exchangeable for new com
mon stock, dollar for dollar, the Thomson-Houston preferred for new
Sur.eam.fortheyear. $326,743 preferred also dollar for dollar, and the Thomson Houston common
DiBKCTORS AND OKFICEBS.— Directors are for one year, William N- for new common at the rate of $125 in the old stock for $300 of the
Hobart, Lewis H. Greene, Herbert L. Terrell; two years, J. B. Green- new. See V. 54, p. 287, 328, 443.
hut, W. II. Corning, Frank Curtiss; three years, P. J. Hennessy, Nelson
Dividends.—The General Electric on common stock paid in August,
p.
;
•
;
;
;
;
;
;
;
;
;
;
;
;
m
:
I
|
,
. .
Morris. Julius K. French. Prealdeut, J. B. Greenhut; Treasurer, Wm.
N. Hobart; Sccretiiry, P. J. Hennessy. OtUce, Peoria, 111.— (V. 53, p.
21; V. 54, p. 682; V. 55, p. 856)
1892, 2 per cent; Novcmlicr,
2.
Price OF Stock— General Electric common stock.— In 1892 to Nov.
18, Inclusive, 104'3®119'8.
..
.
'
;
;
INVESTORS' SUPPLEMENT.
134
Subscribers
wlU confer a ereat favor by giving Immediate notice of any error
MISCELLANEOUS.
For explanation
of
column headings,
first page of tables.
Date
&o,, see notes on
Size, or
of
Par
$100
500
100
100
100
stock
Preferred stock 8 per cent cumulative
Illinois Steel Stock
Debentures, subject to call at 105, convertible into stock 1890
hUernttt'l Ocean Telegraph Btock,6p.c. 99 yrs., W.Union.
Iron Sleamhoal Company— Siack
—
—
mortgage for $500,000
100
100
500
100
.
—
—
$5,000,000
500,000
1,500,000
1,800,000
18,650,635
6,200,000
3,000,000
2,000,000
443,000
10,000,000
10.000,000
14,358,650
5,000,000
2,000,000
1,843,000
2,466,000
3,686,000
800,000
500,000
649,300
986,000
11,500,000
205,646
2,872,000
2,353,000
1,000
1881
Laclede Oas Light— Stock ($2,500,000 is pref .5 p.o.cum.). o
iBt mortgage, gold
c
Z/ehigh Coal dh Navigation Stock
IstM., canal, 6,0.30 acres coaland76m. L. &S. ER
r
Ist mort., Leh. &8us. EK.Mauch Cliunk to Easton
r
2a M. on Can. Coal & RR. and 1st M. Nant. RR., 26 m. .c*
Cons. 3d M. Can al. Coal &122 m. RR.; 2d M. 26 m. RR.
General mortgagcfor $15,000,000, gold
r
Delaware Div. Canal 1st M., int. gu. (ext'dinl878)
o
hehigh <f- Wilkesb're Coal Leh.Coal&Nav.M.,g., assinned.
Lenigli Coal & Navigationniort-convert, gold, assumed.
Sterlmg loan,sinklngfund, drawn at 100
c.
Consol. mort. ($6,116,000 income held by Cent. N. J.).c
Amount
Bonds Value. Outstanding
Bold it Stock r«J.—Stock.rental guar.6 p.c.99 yrs. W.U.Tel.
Bonds, not mortgage
o
Sernng Hull-Mafhin — Common
l.st
[Vol. LV.
1889 100 &c.
50
1864 Various
1867 Various
1867 500 &c.
1871
1,000
1884
1,000
1858
1,000
1867 500 <fcc.
1869 500 &c.
1874
£200
1875
1,000
Sundry real estate mortgages
e
59 of 1912, cumulatlye sinking fund (not drawn)
o 1888
Income " B " bonds, not cumulative, held by Cent. N.J..'
I'.obo
discovered In tbese Tables.
—
— Last
Bonds PrincJ
pal,Whcn Due.
INTEREST OR DIVIDENDS.
Rate Per When
Cent.
Stoclzfi
Payable
Dividend.
6 per an. Q.-J. N. Y., West. Union Tel.
6
M. & S.
do
do
Oct.,
May
1892
1,
1895-
New.
....
5 stock
5
J. & J.
6 per an. Q.-J.
See text.
6
J.
N. Y. ,MetropolitanTr. Co Feb. 19, 1891
N. Y., C, Morgan & Co. Jan. 1, 191»
N. Y., West. Union Tel.
Oct., 1892
N. Y., Fieri, North Riv
Oct., 1892
J. N. Y., First Nat. Bank, July 1, 1901
N. Y.,H.B.Hollin8; St.L. Dec. 15,1892-
&
See text.
5 g.
Q.-P. N.Y..H.B. HolUns: St. L. May 1, 1919'
3eo text. M. & N.
Philadelphia, Offlce.
Nov. 25, 1892
4ia
Q.-J.
do
do
July 1, 1914
6
q.-F.
do
do
Feb. 1, 1897
6 g. J. & D.
do
do
Dec. 15, 1897
7
J. & D.
do
do
June 1, 1911
4»2g.
6
6
g.
Q.— P.
J.
J.
6g. M.
M.
6
&
&
&
&
do
8.
N.
New
Q.-M.
7
6
5
M.'
May
do
1,
J. Phila.,226 8o.ThirdSt. July 1,
D. Phlla.,L.Coal&Nav.Co. Dee. 15,
&
N.
New
do
do
Sept.
York and London. May
do
do
June
New York.
York and London. Nov.
1924
189»
189T
1894(
1,
1,
1,
1899
1,
19ia
190(>
Statement to N. Y. Stock Exchange.—The elaborate statement to for 1890, 3 per cent In cash, 5 per cent stock for 1891 no dividend
the N. Y. Stock Exchange, dated May 31,1892, with balance sheets, was paid.
Ac, was in V. 54, p. 1050, and to this reference should be made.
The balance sheet on Jan. 2, 1892, was as follows Assets— Cash itt
Bonds.— In November, 1892, the $6,000,000 of 5 per cent gold bonds bank and on call, $1,246,655 accounts receivable, $2,842,526 bills re;
:
;
remaining in the treasury were offered lio stockholders at par, payments to be made one-half Dec. 15, 1892, and one-half Jan. 16, 1893.
These debentures are all convertible into General Electric stock at the
rate of $100
stock for $120 in bonds. (See V. 55, p. 146.) The
Thomson-Houston collateral trust bonds are secured by pledge of
$600,000 first mortgage 5 per cent gold bonds of the Manhattan Electric Liglit Co., deposited with the Holland Trust Co. as trustee, and
m
covering real estate,
jilant, etc., in
;
ceivable, $1,028,482; Inventory, $9,024,740; stocks, bonds and investments, $2,371,871 ; plant and real estate, $17,801,618 total assets,
$34,315,893. Liabilities— Capital stock, $18,650,635 bonds, ,$6,200,
;
;
000 accounts payable, $2,928,348
bills payable, $4,256,697; accrued
$166,589; surplus fimd, $144,328 profit and loss surplus,
$19,69,295 total lialiilities, $34,315,893. Treasurer's offlce, Rookery
;
;
interest,
;
;
Building, Chicago.
(V. 54, p. 287.)
New York City
Until the collateral
trust bonds are paid, both the Thomson-Houston and the Manhattan
companies are forbidden to execute any mortgage on their prop-
Ijaclcde Gas lilglit.— This St. Louis company was Incorporated itt
1857 in 1889 it came into control of all the other gas companies in St.
Louis, through ownership of tlieir securities. The Laclede's contract
erty.
with the city
Edison General Electric— This company on May 1, 1892, owned: sumers $1-25 of St. Louis, running to 1916, permits It to charge conper 1000 cubic feet. The city sought to annul this con(1) Manufacturing plants and real estate valued at $6,057,368
(2)
tract, but it was sustained in the courts. Preferred Stock is 5 per cent
stocks and bonds of controlled companies, etc. (including practically
cumulative, and in May, 1892, there was 11 14 per cent of accumulated
the entire stock of the Edison Electric Light Co.), valued at $6,384,064; dividends
unpaid. Dividends on prefened have been— in 1892, March,
(3) bills receivable, supplies, etc., $11,748,534, against which were bills
114; June, II4; Sept.
and accounts payable of $6,554,353, mortgages on real estate of $265,- the mortgage. See li4:Dec., II4. Central Trust Co. is trustee (under
application to New York Stock Exchange in tuU
000; dividends declared and unpaid of $301,606, and depreciation ac- in V.
49, p. 657.
count of $686,033.
Earnings.— From Jan. 1 to Oct. 31, 1892 (10 monthsS net $508,995,
The Edison Electric Light Co., controlled by the Edison Gen. Electric,
owns all the Edison patents for incandescent electric lighting in North against $426,280 in 1891. In year 1891 gross earnings were $1,279,and South America. It grants exclusive licenses for specifled territory 196; net, $582,460; interest on bonds, $500,000 balance, surplus,
$82,460. In 1891 the sales of gas to private consumers (the contract
to local companies, and owns stocks and bonds acquired therefor.
The dividends paid by the Edison Gener.al from Jan., 1890, to Nov., with the city having expired) were 851,110,200 cubic feet, against
726,576,200 in 1890, the mcrease being 17 percent. New York office,
1892, both inclusive, were at the rate of 8 per cent per annum.
Report for the year ending Oct. 31, 1891, showed gross earnings, not 40 Wall Street.— (V. 52, p. 321, 498, 718,899, 939.)
Including those of the Edison Electric Light Co., of $10,942,640; net,
I^ehlgti Coal *; Navigation.— Owns canal from Coalport to Eas$1,749,549; amount charged off on various accounts, $558,070; net
result, $1,191,479; surplus from preceding year, $1,100,432; total ton, Penn., 48 miles, and leases Delaware Division Canal, 60 miles.
available for dividends, $2,291,912; dividends paid $1,031,845. In Also owns Lehigh & Susquehanna Railroad, Phillipsburg, N. J., to Union
addition to the aDovc earnings the Edison Electric Light Co. received Junction, Pa., 105 miles, with branches, 56 miles, and leases for 999
In 1890-91, as license fees, $631,672 in stock and bonds, estimated to years Nesquehoning Valley Railroad, 17 miles Trescow Railroad, 7
be worth $500,000, of which the General Electric share would be miles; other lines, 1 7 miles; total, 202 miles; but all these roads are leased
for 999 years from 1871 to Central of New Jersey RR., rental being
about $495,000.
3313 per
gross earnings, with a minimum rental of $1,414,400.
Thomson-Houston Electric—This is a Connecticut corpora The leasecent of Central
of the
of N. J. in 1892 to the Philadelphia & Reailing
tion engaged at Lynn, Mass., in the manufacture of electric lamps,
provided for a minimum annual rental to the L. C. & Nav. Co. of .$1,dynamos, outfits for electric railways, etc. On January 1, 1892, there
800,000 for first four years and thereafter of $1,916,667; but lit
were 204 railway companies using its motor system, while 100,293 of August, 1892, said lease
was adjudged illegal. See Central R S. of N.J.
Its arc lights and over 800,000 of its incandescent lights were in use by
Bonds.— The Cent. RR.. of New Jersey assumed (in purchase of equiplocal companies. Paid on common stock in 1891, 18 percent; in 1892,
ment) $2,310,000 of the gold loan due 1897, and the Lehigh & WUkesFebruary, 4 per cent; May, 4; Aug., 4^5 Nov., 44=.
Floating debt Feb. 1, 1892, $2,515,300; stock, $10,000,000; surplus, barre Coal Company assumed $500,000 of the gold loan due 1897 and
$660,500 (al!) of the convertible gold loan due 1894, additional to$7,546,948 guarantee account, etc., $201, 200; assets, $20,263,448.
Fiscal year ends February 1. Annual report for 1891-92, with bal- amounts in tal>le above. The general mortgage of 1884 (trustee. Fidelance sheet, was pubUshed at length in V. 54, p. 641. In 1891-92 the ity Insurance Company of Philadelphia) covers, subject to prior bonds.
Ijusiness of the Boston oflice amounted to $10,304,580, against 7,460 acres coal land, 48 miles canal and 161 miles railroad, estimated
10,217,661 in 1890-91. The profits applicable to dividends in 1891- in 1884 as together worth $25,278,000 bonds are reserved to retire all
f 2 were $2,760,780; dividends paid, $1,236,366; balance carried to prior issues not assumed by other companies. Securities owned by company are put In balance sheet as equal to $3,876,806.
surplus account, .$1,524,414.
The Thomson-Houston International Electric Company conducts the
Dividends.— In 1881, 2 per cent; in 1882, 4; in 1883, 5>a; in 1884,
foreign and export business of the Thomson-Houston Electric Co.
6 in 1885, 512 in 1886, i^ in 1887, 4 In 1888, 412 in 1889, 5 in
1890, June, 213; December, 2>3; in 1891, May, 212; November, 212; in
^Annual Mbetino Is held on second Tuesday in April.
Directors of the General Electric for the year 1892-93 H. McK. 1892, May, 2^ per cent; November, 3.
ANNUAL REPORT.-Report for 1891 was in Chronicle, V. 54, p. 364.
Twombly, (Chairman of the Board F. L. Ames, C. H. Coster, C. A.
Coflan, T. Jefferson Coolidge, Jr., T. A. Edison, F. S. Hastings, H. L.
1889.
1890.
1891.
Higginson, Eugene Griffln, D. O. Mills, J. Pierpont Morgan.
From railroads andNesque. Tunnel..$l,816,436 $1,766,174 $1,835,754.
Oiticers.— President, C. A. Coffin; Treasurer, A. S. Beves; Secretary, Canals
48,494
45,518
38,161
E. I. Garfield, New York; offlce Edison Building, Broad St.— (V. 54, p. Net profit on Lehigh Coal
204,563
148,049
158,837
119, 242, 286, 287, 328, 443, 597, 683, 761, 800, 845, 1047, 1050
Royalty on coal mined, &o
83,771
105,308
96,808
;
;
;
;
;
;
;
;
;
;
;
;
;
:
;
V. 55, p. 146, 590.)
Total receipts
Gold 8c Stock Telegraph Co.— Operated by Western Union
$2,153,264
Telegraph Company by contract for 99 years from January 1, 1882, at Interest, rentals, taxes, &c
$1,161,096
6 per cent per annum on stock and bonds.
Less sink. fd. of 10 p. c. p. ton oncoal.
118,242
Herrlng-Hall-inarvln Company.— Organization, Property, Less deprec'n on coal improv'm'ts.&c. 105,911
etc.— Organized in May, 1892, to take over and carry on the business
of manufacturing fire and burglar-proof safes and vaiUts, which Surplus for year
$768,015
formerly belonged to the Herring, Hall, Marvin, etc., companies. Balance to credit of dlv'd fund Jan. 1.
766,691
Total assets thus obtained were put al $2,003,974-including machinery,
Total
pattei'ns, etc., .$668,681 real estate and leasehold interests, $116,751;
$1,534,706
balance, materials, bUls receivable, stock on hand, etc. See adv. In Dividends
(5)641,193
;
Chronicle of May 14, 1892.
Stock.—Preferred has preference
to assets as well as income. Com" entitled to the surplus earnings, when declared in dividends,
after the payment of 8 per cent on tlie preferred." No bond or mortgage can be created without consent ot 90 per cent of preferred.
Earnings.- Total net profits of the consolidated companies averaged
$276,320 in the three years ending in 1891 ; net profits in 1891,
mon is
$316,790.
Directors.- Edward C. Hall, President John Farrel, Willis B. Marvin, Frank O. Herring, Wright D. Pownall, Richard T. Pullen, William
H. Hall, all the foregoing having been members of the old companies;
;
Richard Dymonrt, Joseph Eawson, Jr., and William S. Rowe, CincinJohn H. Davis, New York.
Illinois Steel.—This company was formed May 1, 1889, by consolidation Of the Jollet Steel, Umon Steel and North Chicago Rolling Mill
companies. It owns 19 furnace stacks and in 1891 received 3,026,456
tons of raw material, and shipped 795,362 tons of finished product.
In 1891 the total net profits were $1,038,000, of which $883,000 were
expended in Improvements. Ii. February, 1892, it was voted to increase
the stock from $25,000,000 to $50,000,000 in order to Increase the
capacity of the works. Dividends for 8 months of 1889, 4 per cent
nati
;
Balance to credit of
div.
fund Dec.31.
$893,513
$2,065,049 $2,129,560
$1,140,121 $1,147,223
99,150
96,790
107,533
100,680-
$718,445
893,513
$1,611,758 $1,682,141
715,150(5)714,484
$897,274
— (V. 50, p. 2T4 V. 52, p. 320 V. 54, p. 364.)
I.elilgh & AVlIkesbarre Coal.-This company,
:
$784,867
897,274
$966,991
;
controlled by
the Central RR. of New Jersey through ownership of $6,600,000 of the
owns 21,000 acres of anthracite coal lands and holds 3,000,
additional acres under lease. It operates thirteen collieries and leases
about 4,000 acres of its coiil lands to various individuals, who operate
collieries thereon. The Central N. J. owns $6,116,000 of the consolidated mortgage bonds, which receive interest if earned, and $2,353,000
of the Income bonds. Stock is $9,212,500 (par, .$50) past due coupons
of consols held by Central New Jersey, $3,630,107. A sinking fund for
bonds due 1912 is provided from sales of surface lands and from payment of 10 cents for each ton of coal mined on property included in the
first lien
no drawings. Only $54,000 of the company's obligation aro
guaranteed by the Central RR. of New Jersey.
The annual report for 1891 was in V. 54, p. 405, and showed total
receipts of $9,449,683; net over operating expenses and taxes, $1,015,282 (agst. $827,913 in 1890) interest and sinking fund charges,
$989,638 balance, surplus, $25,644. Included in operating expenses
in 1890 was $116,191 for disasters at colUeries. (V. 54, p. 405, 683.>
stock,
;
;
;
;
c
NOVOUBEB,
MISCELLANEOUS STOCKS AND BONDS.
1803.]
193
«vIII confer a ereat favor by iclvlnc Immediate notice of any error discovered In these Tables.
Bond*— PrlnolINTEREST OE DIVIDENDS.
MISCELLANEOUS.
Due.
Date Size, or
Amount Rate Per Wlien Where Payable, and by pal. WhenLast
5/o<-Jr*—
of
Par
of column headings, i&o., see notes on
Subscribers
—
I
;
For explanation
first
Xoiiisville^ieioay
page of
Bonds Value. Outstanding
tables.
Co.— Stock $1,000,000
is
pref. 5 p.o.
cum.
$6,000,000 5 per an.
6
Various
1 ,400.000
$100
'64-88
of old companies
c* 1890
Louisville Ey. cousol. moi-t. for $6,000,000, gold
o* 1889
Jlaiiison timuirc <iurden—lat mortgage, gold
Man. Drni-li Unltl ,t /.a«(<— Gen. M. for $1,.500,000 gold. 0* 1890
Mfirifhind Coal St()ulc
o*
1st M., drawn at 100 (s. f. has retired $140,000)
Majncell Ld. (/»•.— Pr'r lieu M.g.,red. at 100 (or 110 at mat.)o 1888
pledged under prior lieu .M.)
1880
Income M.(X987,100
Metrupiililan Traction— >iUwk, $30,000,000 authorized...
JWcjf. Co.— l8tM.,gold, B.f. (notdr'n),cAr 1888
J/c/TO^<«/i7nKl(7..f
Jitexicu n Telei/nijih —.Stock
Michigan .£ Peninsular Cat Common stock $3,000,000.
Prelerred stock (8 percent gold, cum.)
e* 1892
1st mortgage, gold
Bonds
—
1,000
500
£100
1,000
100
100
100
1,000
100
100
100
1,000
1891
1891
1891
1891
1,600
—
;
MadlMon Square Garden.—Owns in
York
City bounded by Madison
theatre, etc.
fee the block of land in
New
and Fourth avenues aiuriUth aud 27th
streets, together witli Iniildiug thereon,
Stock, $2,000,000. There
is
coutaiuing tlieatre, amphia second mort. for $750,000.
Maryland Coal Co.—Controls
6,000 acres of land in Alleghany
and Garrett counties, Md. In 1891 produced 406,464 tous of coal,
against 357,117 in 1890. Net earnings in 1891 over expenses and
taxes were $102,.'}88 dividends (2 '4 per cent) $94,500. In 1890 company purcliased aud canceled $200,000 of its stock. Dividends In
1890, IJs per cent; In 1891, July, 1 per cent; In 1892, Jan., l^iper
oeut; July, 1 per cent. (V. 52, p. a38 V. 54, p. 36 '>.)
ITIaxivell Land Orant Company.— Owns 1,714,764 acres In
Oolorado aud New Mexico eoutaiuiug coal, timber and land fit for
razing and agricultural purposes. (See map in S(ji'i'i,E.MKNTof March,
f889, and prior issues.) The prior lien bonds are payable at 110 at
maturity, or redeemable at par from proceeds of land sales. In 1891
interest was defaulted and is now paid with prior lien bonds, or cerStock, £950,000. In
-ttlleates convertible into prior lien bonds.
1890 land sales 18,409 acres, for $151,938. In 1889, sales 26,399
for about $170,818. (V. 53, p. 223 V, 54, p. 367.)
acres,
Metropolitan Xelephono dc Telecrapta Company.—This
company has exclusive rights under a perpetual license from the Bell
Telephone Company to tlio business of furnishing telephone service
within tlie city of New York and its suburbs, its territory having a
radius of 33 miles from the City Hall in all directions. Stock, $3,000,000
<par, $100.) Dividends of at least 8 p. e. per annum (payable quarterly,
January), have been paid since 1882.
Metropolitan Traction Co.— This corporation is organized under
the laws of the State of New York for the purpose of controlling
horse railroad coiupauies in New York City. It controls by ownership
of stock or by lease the Broadway & Seventh Avenue, the Broadway
Surface, the '_'3d Street, Houston West Street & Pavonia Ferry, the 6tli
Avenue, the 9th Avenue, the Metropolitan Crosstown, tlie Belt Line
and the South Ferry railways, all these, except the Twenty-third Street,
being leased for convenience in operation to the Houston West Street
Pavonia Ferry. The funded debts, stocks, etc.. of the several compauies will be found on a page at the back of this Sui'I-i.embnt under
••'New York and Brooklyn Street Railroads." In 1892, a controlling
Interest in the stocks of the 42d St. & Grand St. Ferry RK. was reported purchased in interest of this company. V. 55, p. 297,
723. In 1891 dirtdends were 4 per cent; in 1892, January, 2 per
«ent; In July, 1 per cent. The company was reorganized in
September, 1892, under the laws of New York State, and stockholders voted to increase the stock from .$20,000,000 to $30,000,000,
issuing II5 shares of new stock for each share of old, and holdiug tiie
balance of the new stock, $6,000,000, In the treasury. See V. 35, i>.
421. New York ofllee, 761 Seventh avenue. (V. 53, p. 325; V. 54, p.
367 V. 55, p. 167, 297, 421, 723.)
Mexican Telesfrapli.—Company organized in 1878 under laws of
New York State. litis a cable from (ialveston to Tampieo and Vera Cruz,
738 miles land line. Vera Cruz to Mexico City, 267 miles. Also direct
cable from Galveston, Texas, to Coatzacoalcos, Mexico, 825 miles, dup
llcating tlie Mex. Tel. audCeu. & 80. Am. Co.'s Gulf cable system. Has
exclusive right for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the United States
border 156 miles wide, between the Gulf and PacUle Ocean. Stock
was mcrcased to $2,000,000 in February, 1890.
DniDESDS— In 1882 to 1886, inclusive, 8 per cent yearly; from 1887
to October, 1892, both inclusive, at rate of 10 per cent per annum.
Earsisos, iS:C.—Corap.auy owns 1,362 shares of tlie (Jentral & South
American Telegraph Co. Gross earnings iu 1890, $419,691 net, $352,003, against .$299,871 In 1889. J. A. Scrymser, Pre.s't, 37 Wall St.,N Y.
;
:
;
;
A
;
;
;
A
Mlclilcan-Peulnsnlar Car Co.- Ouganization and Bcsinkss.-
See text.
J.
Dividend.
Louisville,
Oct 1. 1892
var.l8941909
1930
Nov.
1912
Nov.
1940
July
1892
Nov.
1896
Jan.
1918
do
Now York A
LooIgylUe. July
N, N. Y., Merc. Trust Co.
N. N.Y.,Corbln,Bkg.,192B.
New
York, 35 B'dway.
do
do
N. Y., Lond.
J.
<fe
& Ams'dam.
5«- M. &
July 16 1892
J.
N. N. Y., 18 Cortlandt St.
Q.-J. N.Y.,Orace,37 WaUSt.
M. & S. N.Y.Ouar.&Indem.Co.
do
8 per an. Ci.-M.
do
do
do
^«- M. & S.
o per an.
6
N. Y., Mills Building.
Q.-J.
10 per an
May
1,
Oct. 13
1918
1892
1892
1942
1892
4 per an. F. <St A. Leh. Val.RR.Co., Phlla.
Aug 1892
lOperau F. & A.
do
Aug 1892
do
A. & O.
7
do
Apr. 1, 1906
do
See text. Q.-F
N. Y., 135 Front Street. Nov. 1, 1892
8 per au. q.-i
do
do
Nov. 1, 1892
byKov.1,1901
250,000
675,000
373,000
4,466,000
1,000
Ijoutsvllle Railway Co.—This company under a charter, which
has been cxteudcd indetiuitely l>y tlio Legislature of Keiitiiolcy, has acquired by purcluise all the railways, iiropertics and fraucliisos of the
several companies operating street railways in tlie city of Louisville
and its aubui-bs. The fraucliise.s so acquired are perpetual, excei)t the
franchise of the Louisville City Ry. Co., which runs for 99 years from
April 3, 1886. Tlie lines operated in 1891 and 1892 aggregated llSmiles
of uoulde and 21 miles of single track, of which 47 miles of double aud 3
miles of single track l)y electricity; tlie remainder by mules. The real
estate of tlie company is valued at $750,000. The consolidated mortgage bonds were listed on tlie N. Y. Exchange in June, 1892. DiviDK.NDS. On preferred iu 1892 5 per cent. Eaknings. From Jan. 1 to
July 31, 1892 (7 months), gross earnings were $711,640 net, $269,052.
For year 1891 total gross earnings were $1,188,822; net over operating
expenses $406,030, against $381,716 in 1890. J. B. Speed, President.
—
See text.
2,000,000
2,000,000
2,000,000
5,000,000
2,000,000
16,500,000
1,025,000
1,175,000
1,000,000
10,000,000
5,000,000
100
100
Preferred, 8 per eeut, cumulative
Security Corpnrution lionds and notes—
Deering & Co. mortgage notes
Bostou Cordage Co. 1st M. notes, gold guar. Nat. Cord.
Vai ious other 1st mortgages
Sec. Cor.l8tcous.M.,g.,$(3,000,000(iut.pald as rental).
&
&
&
whom.
•
£12,100
100
Coraage— Common stock
M.
1,300,000
* K- M.
4,200,000 See text.
7
110,000
3,000,000
6g.
<Sie.
100
Minnesota Iron Co.— Stock
Morris Canal— Stooi, cousol., 4 p.c. gu. 99 yrs. by Leh. V.
Preferred stock, 10 p.c. guar. 999 jts. by Lehigh Valley
o 76-'85
l8t mortgage
J.
1,'J50,000
1.000
—
Ji'ational
4,600,000
i',6bo
500
Payable
Cent.
Deo.
Sept.
Oct.
1,
1,
1,
,
,
6
Seuil-an
6g.
Boston.
Au.15 .•93to'01
Various
1892-96
M. & N. N.Y.,Manhattau Tr. Co. Nov. 1, 1911
The common stock is entitled to a dividend of 12 per cent per annum,
payable in gold, after payment of tiio dividend upon the preferred
stock, and to further annual dividends out of net earuiiigs after a sum
equal to 4 per cent per annum has been carried to surplus fund.
Of the common stock $1,000,000 will remain unissued In the treasury
to provide for enlargements.
Dividends.- On common will be M. & S. On preferred. In December,
1892, paid 2 per cent (quarterly).
Net Eaknings.— For quarter ended Nov. 30, fifteen days approximated, were $227,000 surplus over iuterest and dividend on preferred $102,000, applicable to dividends ou common'.
DiKEcrous.— Hon. James McMillan, Detroit Hiigii McMillan, Detroit;
William C. McMillan, Detroit; Frauk J. Heckor, Charles L. Freer, Watson M. Freer; Hon. Russell A. Alger, Detroit; George E. Turubull,
New York; Matthew Addy, Cinoinuatl. (V. 55, p. 86.)
Minnesota Iron Co.—Owns about 14,270 acres of land and six
Iron mines in St. Louis and Lake counties, Minnesota. Owns also $500,000 stock, $400,000 1st mortgage bonds and $3,500,000 6 per cent
Income certiflcates of Duluth & Iron Range RR. Co. Dividends— In
1890,3 per cent; In 1891,6; iu 1892, Jan., IHi per cent; April, lig;
July, lis; Oct., l^a. Offices, Mills Building, New York, and Chicago.
;
;
(V. 54, p. 119.)
Minneapolis Street Rallvray.- See Twin City Rapid Citt.
Morris Canal.— Leased April, 1871, to Lehigh Valley RR. for 999
The lessees assume bonds and scrip, and pay 10 per cent per
preferred stock and 4 per cent on consolidated stock. In
1889 the Leliigh Valley ceased operating the canal, which was thereafter
to be used for water supply, (iee V. 48. p. 100, 159.)
National Cordage.— Organization.— Organized under the laws of
New Jersey for the importation of hemp and tne manufacture and sale
of cordage.
On October 31, 1891, the properties owned aud controlled
by the company were forty-nine In uumlier. and were situated in many
States of tills country and iu the provinces of Canada. A rival company, tlie John Good Cordage ife Machinery Co., was Incorporated In
October, 1892, with capital of $7,000,000.
Stocks.- Preferred is 8 iier cent cumulative, and aVso has priority
over tile common stock iu respect of all property and assets iu case of
liquidatiou or dissolution. After the payment of 8 per cent cumulative
on the preferred stock aud 12 per cent on the common stock, any further dividends have to be divided pro rata between the two classes of
stock. Both common and preferred have the same voting power per
sliare. No mortgage or bonded debt can be created e-xcept with the
consent of 80 per cent of the preferred stock. See V. 52, p. 204, 279.
Dividends.— On common stock: In 1891, 9; in 1892, Feb., 219; May,
21^; August, 212: November, 3. Dividends on preferred have been 2
per cent quarterly (8 per cent yearly) to date.
Price ok Stock.— Common iu 1892 to Nov. 18, inclusive, 91»a®135.
Preferred in 1892 to Nov. 18, 100 a) 123 "4.
Heclritv CoKi'oK.ATioN of New Jersby.— Organized Sept. 23, 1891,
with capital of $350,000, to take over tlie several extensive cordage
works purcliased in the iuterest of the National Cordage Company late
in 1891. Its entire property is ii^ased till November 1, 1911, to tlie Nat.
Cordage, which pays to the mortgage trustee iu gold as rental $3()0.000
pur anuum for interest ou the bonds and in addition .$225,000 per annum as sinking fund. Tlie sinking fund increases with the payineut of
the bonds, the iuterest on those canceled as well as the .$225,000 per
annum being appiied to the purchase of bonds at or under par and interest. Upon the payment of all the bonds the National Cordage will
own the property in fee. The bonds are not suljject to call before maturity. Mortgage trustee is Manhattan Trust Company. It is said the
Security Corporation earnings far exceed the iuterest ou Its bonds. To
Nov. 21, 1892, $230,000 liouds had been canceled by the sinking fund.
years.
annum on
As
to bonds, see V. 54, p. 647.
ANNUAL REPOitT.—Forthe fiscal year ending Oct. 31, 1891, the report
published iu full In the Chronicle, V. 54, p. ,247, makes the following
statements coneeriilng the property. ** It will thus be seen [ by the statement of earnings below given] that notwithstanding the severe competition during tlie year and a declining hemp market, wliicli still
further reduced proflt.8, the results of tlie business have been fairly
satisfactory. Many of the properties now owned or controlled by the
company, including all the mills in Canada, aud several of the largest
mills in Boston and in the West and Southwest, came under its control
Consequently the profits shown by
alioiit the 1st of November, 1891.
the Financial Director's report merely represent the profits of the mills
formerly owned by the company, whereas now its mauufacturing capacity has been very largely increased and its earnings should he increased oorroapondiiigly."
Balance Sheet—EARNINGS.-Fisoal year ends October 31. Profits
in year 1890-91 and balance sheet Oct. 31, 1891, were as follows :
assets.
liauilitibs.
con.^olidation in 1892 of several Detroit companies, with an aggre- Merchandise
$3,143,793 06 Aco'ts and bills pay. $4,712,806 60
gate capacity of 100 cars a day. Business estalillshed in 1804 and Accounts and bills
Preferred stock....
5,000,000 00
consists iu the manufacture aud sale of freigtit cars of every descrip10,000,000 00
receivable
2,657,576 04 Common stock
ition, car wheels, castings, bar iron, and all the supplies required iu tile Cash
3,706,313 00
540,25104 Surplus account
<!on8tructlon of r.ailroad equipment. The property covers 83 acres of Real estate, buildfrouiid, owned l)y tlie company, wholly located witliin the city of
Total UabUitles.$23,419,120 14
ings,
machinery
Detroit. Eight acres thereof are on the Detroit River, having a sysand leaseholds... 17,077,500 00 PROFIT AND LOSS ACCT. FOB '90-91.
tem of piers and extensive wharfage. Seven railroads toucli the propProfit on operations $1,406.313 45
erty. There are seventy-eight buildiugs especially constructed for the
1,300,000 00
Total assets. ...$23,419,120 14 Dividends paid
requirements of the business. The total losses in the past few years
upon sales amounting to more than $100,000,000 are ascertained to
Balance surplus.
$106,313 45
have been less than $5,000. The real estate, working plant, machinery
Directors.—James M. Waterbury, Frauk T. Wall, Chauucey Marshaud appliances have lieen appraised at $5,605,787, and the cash assets all, John A. Tucker, O. Weaver Loper, E. M. Fulton, Jr., John C. Furat $1 ,297,000. Sec adv. Ciikonici.e July 16, 1892.
man, and two vacancies. President, James M. Waterbury, New York
Stock.— The preferred stock is entitled to a cumulative preferred oflice, 134 Front Street. (V. 52, p. 204, 279, 642, 899; V. 53, p. 289
325, 713; V. 54, p. 34, 243, 643, 647, 723.)
dividend of 8 per cent per annum, payable quarterly in gold.
.
;:
,
J
96
LNVESTOES' SUPPLEMENT.
^nbacribera
wrlll
F*r explanation
column lieadinj^s,
first page of tables.
of
Date
<&o.,
see notes on
Lead Co.— Stock, common, .$15,000,000
Preferred stock
(7
INTEREST OR DIVIDENDS.
Size, or
Amount
Rate Per When Where Payable, and by
Bonds Value. Outstanding Cent. Payable
Whom.
of
Par
$100 $14,904,000
100
14,905,000 7 per
autli'd,.
per cent, cum.) $1.5,000,000 aath
Debentures
(1)
Ifational Linseed Oil— Stock
Ifational S^arcA— Common stock ($5,000,000)
let preference stock, cumulative. 8 p. cent ($3,000,000)
2d preference stock, cmnulative, 12 p.cent ($2,500,000)
lstmortgage,(for $4,500,000), gold
'ioo
100
100
100
1890
Jfew Central Coal— Stock
Telephone dt Telegraph
Bonds, Ist and 2d Series, each $500,000
c
Bonds, 3d Series, subject to call after April l,1901,at 102
Bonds, 4tli Series.subject to call after ApiTl l,1902,at 102
Sew England Termijial— 1st M., gold, drawn at 110
c
Newport News Shipbuilding <£• Dry Dock. Ist mort. .c*Ar
Chesapeake Dry Dock & Construction 1st mortgage
New York Biscnit Comnatiy— Stock
First mort, gold, sinking fund, not subject to caU
c&r
N.T.mutual Tel.— Mutual Un.Tel. 1st M., g.,gu., notdr'n.c
yew Jersey Telephone Stock
Nero York
—
.
—
<fi
89-'90
1891
1892
1889
1890
1887
185-1
1881
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
100
100 &c.
g., s. f $20,000 y'rly, not dr'n. .c* 1890
Perry Coal a Iron Co.— Stock
1st mortgage, gold, sinking fund—not subject to call, .c 1890
N. Y. <e Texas Latid(Limited)— Stock
iiror(AA»!e?-ican— Stock for $50,000,000
N. r.
1,000
100
100
—Stock
New England
First mortgage
Gen. M. for $1,500,000,
.
tl
1,000
100
1,000
50
100
National l,ead Company.—Orgasizatioj.'.— Organized under
the laws of
Lead Trust.
manufacture
[Vol. LV.
confer a great favor by elTlns Immediate notice of any error discovered In tbese Table*.
MISCELLANEOUS.
Ifational
.
New
Jersey on Dec. 8. 1891, as successor to the National
It controls 26 extensive plants in difl'erent States for the
of white lead and other products. Seo V. 55, p. 462, con-
cerning Unekles' suit.
The company has $30,000,000 capital and $3,000,000 of 6 per cent
30-year debenture bonds. The preferred stock carries 7 per cent dividends per annum, to be cumulative, ^bout $2,500,000 of the debenture bonds were to be used for working capital in carrying on tlie
various enterprises of the Trust, but none bad been issued up to Sept.
10. 1892. See V. 53, p. 156, 290, 640, 880. Consolidation with the
National Linseed Oil Co. was talked of in Oct., 1892. See V. 55, p. 765.
ANNUAL Report.— Fiscal year ends Jan. 31. Annual meeting is held
on a Thursday in February. The first annual statement of the
Company will be made in February, 1893, the statement below being
that made by tlie old " Trust."
The report of President W. P. Thompson for the year ending Jan. 31
1891, (Chronicle, V. 52, p. 237) gave the Trust's assets as follows
Plant, $17,992,989; other investments, $459,235; net working capital,
$5,765,414; other net assets, $1,142,486; total, $25,360,124, against
$22,361,900 on Jan. 31, 1890. Net earns, in year 1890-91, $2,028,552
Dividends.—The Lead Trust paid dividends on its $90,000,000 of stock
as foUows: In 1891, April, is of 1 per cent; July, la of 1 per cent; Dec,
SO cents per $100 share. The new company has paid On preferred
In 1892, March, 1% per ct. (quarterly) June, 1%; Sept., W\ Dec, 1%.
Price of Stock.— Common— In 1892 to Nov. 18, inclusive, 3058®
48^2. Price of preferred stock— In 1892 to Nov. 18, inclusive, 81®9958.
Directors.— W. P. Thompson, A. T. Goshorn, F. W. Rockwell, L. A.
Cole, R. R. Colgate, Simon Beymer, A. P. Thompson, D. B. Shipmfent,
W. H. Thompson, George O. Carpenter, Jr., Edward F. Beale, Jr., John
:
;
18,000,000
4,450,700
2,219,400
1,846,800
3,837,000
5,000,000
10,394,600
1,000,000
500,000
500,000
800,000
2,000,000
600,000
9,000,000
1,500,000
1,978,000
2,535,000
472,500
824,000
3,000,000
600,000
1,500,000
39,767,200
cents,
an.
Q.-M.
6
See text.
See text.
8 per an. M.
12 per an J.
4—F-
6g.
1
See text.
6
6
6
i^5
See text.
6g.
''^
» per an.
6
6
5g1
6g.
(»)
Bonds—PrinciDue
pal, When
N. Y., 1 Broadway.
<Tiioago, Office.
N. T., Office, 29 B'way.
—
Last
Dividend.
Stocks
Deo. 15, 1892
In 30 years.
Aug. 1, 1891
Met. 15, 1891
do
do
Nov. 2, 1892
do
do
July 1, 1892
M.
N. N.Y.,Cha8eNationalBk. May 1, 1920
New York Office.
Mch. 1, 1892
Q.-F.
Boston, 125 Milk St.
Nov. 15, 1892
A. & O. Boston.Bank of Bepub. Apr. '99-1900
A. & O.
do
do
Apr. 1, 1906
A. & O.
do
do
Apr. 1, 1907
F. & A. N. Y., Farm. L. & Tr. Co. Feb. 1, 1909
15J.cfeJ.
New York.
Apr. 15, 1990
J. & J.
New York.
Apr. 15, 1937
Q.-J.
fhieago. 111.
Oct. 1, 1892
M. & S. N. Y., Kountze Bros.
Mch. 1, 1911
M. & N. N. Y., West. Union Tel. May 1, 1911
Q.-J.
Brooklyn, Co.'s Office. Oct. 15, 1892
M. & S. N. Y., Nat. Park Bank.
Mch., 1895
M. & N. N. Y., Atlantic Tr. Co. May 1, 1920
New York, 2 Wall St. Feb. 10, 1888
M. & N.
do
do •
May 1, 1920
N.Y.,J.8.Wetmore2WaIl
&
&
&
N.
J.
m
and one (paid February 15 In 1892) for $1-25. In 1891 the net
all expenses and interest charges were $369,000.
earnings over
Nenr En;;^land Terminal Company.— A transportation line from
Wilson's Point, Bridgeport or other points on Long Lsland Sound to New
York. On July 14, 1892 L. 8. Catlin. was appointed receiver on application of the N. Y. & N. E. BR. and other .stockholders. It is stated that
the total loss during the year ending Jan. 31 last was $71,124 82, while
the total for the past three year.s reached $324,923 28, to which must be
added the sum of $70,000 paid to the terminal company by the Housatonic and New York & New England. The mortgage covers aU the
property of the company, including real estate and dock property in
New York. The New York & New England and the Housatonic Railroad
by endorsement guaranteed interest and the payment of $15,000 annually from 1890 to 1899, inclusive, for sinking fund, and $48,000, 1900
to 1909, inclusive, but in 1892 the Housatonic "took up" ail the bonds.
Stock, $200,000 par. $100. (V. 55, p. 177,331; V. 55, p. 100, 177,
.
:
331.)
New^port
News Shlpballdlng & ^'X Dock Co.—Organ
ized under an act of Virginia of Jauuarv 28, 1886, as amended February 17, 1890. The stock is $2,000,000. The company owns sixty
acres of land with water front, and has large plant, costing $561,954
for the dry dock and crib work, and over $2,750,000 for the other
property, as stated to the Stock Exchange. The Chesapeake Dry Dock
& Construction mortgage covers the dry dock as a first lien and the
Newport News Shipbuilding & Dry Dock mortgage is second to this.
See statement to New York Stock Exchange in (Jhronicle, V. 53, p.
716. (V. 53, p. 713, 716.)
New
If orlt
Biscuit
Company
—This company
is
Incorporated
under the laws of Illinois, and owns and leases property In New York
Cambridgeport (Bcston) Des Moines, la., Denver, Col.,
Ac, 13 cities in all. The real estate, buildings, patents, machinery, etc,
H. McKelvy and B. P. Rowe.
were valued in balance sheet Jan. 1, 1892, at $7,648,031 construcOfficers.- W. P. Thompson, of New York, President L. A. Cole, tion account at
$1,209,747; merchandise accounts receivable, etc., at
First Vice-President F. W. Rockwell, of East Orange, N. J., Second
Trustee under the mortgage is the Central Trust Co. of
Vice-President; J. L. McBfrney, Treasurer; Charles Davison, of New $1,891,291.
York, Secretary. N. Y. oflice. No 1 Broadway. (V. 50, p. 206; V. 52, New York. Sinking fund, $50,000 a year. Dividends from October 1,
1890, to Jan. 1, 1892, both inclusive, 11 p. c. per annum; in April, 1892,
V. 53,
156, 290,
City, Chicago,
,
;
;
;
p. 237;
p.
604, 640, 880; V. 55, p. 462, 765.)
National Ijinseed Oil.—This company. Incorporated in 1890
under the laws of Illinois, has acquired all the property of the Linseed
Oil Trust, consisting of the real estate, machinery, patents, etc., of 52
oU works situated in 42 cities of the United States, including
Chicago, St. Louis, Minneapolis, etc. Its product is both linseed oil and oil
cake—used for stock food and fertilizer— and it is said to employ in the
manufactiu-e of these from 60 to 70 per cent of the country's annual
Certified profits in 1890, $585,889; interest on
1; July, 1; October, 1.
In 1801, 363,654 barrels of flour were manufactured. Treasurer, G. P. Johnson, 157 Duane Street, New York. Main
office, American Express Building, Chicago, 111.
bonds will be $90,000.
Neiv York ITIutual Teleerapli.—Successor to the Mutual Union
Telegraph Company. The stock carries dividends of 6 per cent per annum under a lease for 99 years from February 15, 1883, to Western
Union Telegraph. The Western Union gives its collateral, trust bonds
erop (of ten to thirteen million bushels) of flaxseed. Fiscal year ends
June 30. Report for 1890-91 was in V. 53, p. 223, showing net loss in exchange at par for the stock and bonds of this company.
Ne-»v York Sc Ne«r Jersey Telephone.- Operates telephone
from operations of $20,462. After writing this off' and paying dividends Nos. 10, 11, 12 and 13, aggregating $720,000, the company had lines under perpetual Uceuse from the Bell Comj)any In Stateii Island,
Long Island (including Brooklyn), in Monmouth County, N. J., and in
$453,294 in undivided earnings and its original capital intact. In year
ending June 30, 1890, net earnings were $1,201,405, or equal to 6-67 remainder of New Jersey lying within 33 miles of New York City
per cent on stock. Stock listed in New York in Sept., 1890. See full Hall. Its total subscribers on January 1, 1892, were 9,044 (of
statement in V. 51, p. 348; V. 53, p. 223. Consolidation with National which 4,487 in Long Island), against 8,091 on January 1. 1891. Of
the general mortgage bonds sufficient are reserved to take up the first
Lead Co. was proposed in October, 1892. (See V. 55, p.5765.)
at
Dividends.— 1890 2 per cent; in 1891, Feb., 1; May, 1; Aug., mortgageyear maturity; Trustee Geueral Mortgage Atlantic Trust
Co.
In
1891 gross earnings were $879,044 net, $151,154;
iflofl percent; since, prior to Sept. 10, 1892, none.
taxesandinterest, $87,894; dividends, $152,100; deficit, $88,840; the
Directors.— Alexander Bluston, President; B. D. Hubbard, W. P. storms in January, 1891, having done great
damage to the property.
Orr, H. 8. Grove, A. C. Abbott, Marcus Simpson, A. O. Hall, J. A. WilIn year 1890 gross, $848,927; net, $345,569; taxes, interest and divilard, P. C. Hanford, T. G. McCulioh, Secretary and Treasurer. N. Y.
dends, $219,304; surplus income, $126,264. Total surplus to Dec. 31,
Office, 81 John Street. V. 55, p. 765.
1891. $412,123. Dividends in 1892, Jan., II2 per cent; April, l^s;
National Starcli.— Incorporated in February, 1890, under the laws July, II3; October, l^a.
of Kentucky, and owns properties capable of producing from 230 to 240
New York Sc Perry Coal ic Iron Company.—Owns 640 acres,
million prounds of starch yearly. The twenty concerns whose plants,
trade marks, patents, business and good will it purchased were located controls 800 acres and leases 430 acres of coal and iron land in Hocking
In the States of New York, Ohio. Indiana, Illinois, Iowa and Kansas. Valley region at Shawnee, Perry County, O. Has five coal mines and
The assets, as per balance sheet on Jan. 22, 1891,
The preferred stocks have preference as to principal as well as divi- "wo blast furnaces.For full
statement to New York Stock Exchange on
dends. The bonds were Issued at a rate not exceeding 75 per cent of were $3,791,823.
Ian. 22, 1891, see V. 52, p. 206. Divideud.s—In 1887, 4>a per cent; in
the company's real estate. The good will of the Concerns, &c, is repre1888, 1. Office, 2 Wall Street, N. Y. (V. 52, p. 201, 206; V. 53, p. 21.)
sented by the common stock. On April 28, 1892, there were in the
New York Texas I/and.—This company took the lands granted
company's treasury $549,300 common stock, $780,600 first preferred
and $653,200 second preferred, and $663,000 Hrst mortgage bonds. to the International and Houston & Great Northern railroads, about
Dividends on preferred stock have been paid in full to date common 5,000,000 acres. On June 30, 1888, had 2,287,497 acres unsold. There
's 8980,000 of land scrip receivable for lands at 75 per cent of its face.
stock paid in 1891, March, 1 per cent; 1892, March, none.
Annual Meeting is held on first Wednesday in February.
North American Company.—Organization. This company
Directors.- Hiram Duryea, President William Duryea, Chester W.
was organized in 1890 under the laws of the State of New Jersey, as
Chapin, Horace K. Thurber, Cliarles C. Burns, Secretary and Treasurer
& Trans-Continental Company in liquid.ition.
David A. Geraty, John Duryea, Edgar E. Duryea, James K. O. Sher- successor to the Oregon special
fields— one that of railroad financiering,
wood, Martin F. Loutz, Willett H. C. Cole, James A. Rumrill, Albert It was to operate in two
Erkenbrecber, Clifford B. Wright, Henry R. Wood, Martin Cutsinger the other that of promoting electric light aud power enterprises. See
V. 50, p. 875. The company's assets on May 31, 1892, are shown below.
WiUiam F. Piel, Jr., Richard Johnson, A. B. Beardsley, Fred M. Gilbert' The annual report for 1890-91, extracts from which are also given
and one vacancy. New York office. No. 29 Broadway. (V. 54, p. 643.,'
show the company's operations thus
New Central Coal (Md.).—The annual report for 1890, in V. 52, below,way of establishing a street railway far to have been principally
system in Milwaukee and
in the
9. 202, showed net profits for year of $47,082, against $6,108 in 1 889, electric lighting plants in Milwaukee and Cincinnati. The Northern
and balance to credit of profit and loss December 31, 1890, of $248,654, Pacific and similar securities were mostly acquired from the Oregon &
against $213,321 December 31, 1889. Dividends since 1880— In 1881, Trans-Continental. At the time of the Baring crisis the company's hold2 per cent In 1882 and 1883, nil in 1884, 1 in 1885, nil from 1886 ings of such securities were much reduced.
to 1888 mclusive, 1 per cent yearly; in 1891, 1 in 1892, March 1. (V.
Milwaukee Street Railway and Electric Lighting.-The North
Milwaukee Street
Co.,
New England Teleplione &: Telegraph.—This company does a American Company has oreauized thethe North AmericanRailway May
with capital of $5,(X)0,"00, of which
Co. on
telephone business
Maine, New Hampshire, Vermont and Massachu- 31, 1892, held $2,887,000, to control and operate all the street railway
setts under license from the American Bell Telephone Co. On January lines in Milwaukee. Speaking of this company, and also of its electric1,1892, It had 19,576 subscribers and exchange offices in 96 cities or Ighting plans, the company's annual report (V. 54, p. 1007) states
vUlaees. Stock $12,000,000, of wlilch, on March 1, 1892, $1,605,000
**
Exclusive licenses and patent privileges were acquired from
was In the treasury. The bonds were issued for improvements, placine thatEdison companies for the operation of electric railways aud the
the
the wires undergrouml, etc. Dividends— From 1886 to November, 1892 furnishing of electric light and power for Milwaukee and the adjacent
rate of 3^ per cent ptr annum, three dividends yearly being for
75 at districts, and also city ordinances granting franchises covering all the
m
;
&
;
—
;
;
;
;
;
m
;
:
NOVKMBEB,
.
MISCELLANEOUS STOCKS AUD BONDS.
1893.]
Subscriber*
:
urill
137
confer a great favor by kItIiik Immediate notice of any error dlecoTered In tbese Table*.
'Bond*- PrlnelINTEREST OB DIVIDEMDS.
Date Size, or
Amount Bate per Wben Where Payable, and by pal.When Dn*.
of
8toek»—laM
column headings, Ac, Bee notes on
Par
For explanation of
Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
first page of tables.
MI8CELLANEOU8.
Iforlh
Budton County (Street) K'u— 1 st mortgage,
gold.
.
.
0*
Consolidated iiioitKaKo ($3,000,000), gold
Dobonture ()», fi>i' $.')0().000, gold
NorlliwesI Eqiiipinc ittSiav^i
yorlhweslem Tci.— Htock, 4 rising to 6 p.c, gnar. West.Un.
1st mort., sink. fund. Ivouds not drawn, interest guar.c
Ohio Falls Car Manufacluring Co.— Common stoolc
Prof erred stock, S per cent, cumulative, gold
Ist M.. gold, !?'20,000 per annum, sul)Jectto call at 105.
Oregon ImuroeemenI Co.— Stock, common
Preferred stock, 7 percent, non-cumulative
Ist M., g e.f. 1 p.c. yrly.,red.atlOOif notpurch.atlOS.o
c*
Consolidated mortgage for $15,000,000
Pacitlc Mail Sleamsli ip Stock
1st M. for $5,000,000 sul>ject to call at 110 and int. .c'
Penns>ilvan ia coat— Stock
Peoria Water— l»t M., g., red. aft. Nov. 1, 1899, at 105.0*
Philadelphia CompaHn—CSnUiriil Gas) Stock
l8tmortgage,siuking fund $2.50,000 yearly ,notdrawn.o*
P. Lorillard Co. Common stock
Stock, preferred, 8 per cent, cumulative
Postal telegraph Cable Co. Stock
1888
1802
1874
91,000
1,000
1,000
100
50
500
100
100
100
100
$625,000
J.
6
7
7 per an. M.
1,000 NoneNov.'92
50
5,000,000
1,000
1,254.000
50
7,500,000
1,000
380,000
100
3,000,000
100
2,000,000 8
10,000,000
1889
1888
—
—
Hoboken, Co.'s Office. Jan. 1, 1914
Hoboken.N.J. IstN.Bk. July 1, 1928
Hobokon, Co.'s Oflice. Fell., 1902
N.Y., Office, 36 Wall Ht Nov. 1, 1893
N,
Y„ West. Un.TcI.Co. July
do
do
6g.
J.
5
ii
<b
8 N. Y. Of., 22 William
D
8t.
N.Y., Farm.L&.Tr.Co.
A.
do
do
& O
Sootoxt
N. Y. Office.
6 g. P. 4 A
10 p, ann Q.-F. New York, 1 Broadway.
6g. H. <b N N. Y., Atlantic Tr. Co.
Pltt«burg,820 Penu Av,
See text.
6
J. & D N. Y. City, Merc. Tr. Co.
See text. F. & A N. Y., Baring, Magoun.
p.
ann.
do
do
Q.-J.
2, 1892
1. 1904
New.
New.
Oct 1, 1922
Aug. 1, 1890
Sept. 1, 1892
Deo. 1, 1910
Oct. 1. 1939
Sept 15, 1887
Aug. 1, 1908
Nov. 1, 1892
Nov. 1, 1919
Oct. 1, 1892
Dec. 1, 1898
Aug. 15, 1892
Oct 1, 1892
Jan.
Quar.
1,000
1,000
100
F.
1
1890
,
g.
See text.
See text.
1880
1889
—
A J,
A J.
& A.
Q.-F.
J. A J,
J. A J,
J.
2,375,000
300,000
3,000,000
2,500,000
1,180,000
400,000
800,000
600,000
7.000.000
327,800
4,369,000
6,549,000
20,000,000
Important streets and points in the city, constituting assets and conces >e per cent a year to 6 in 1897 and afterward. The bond Interest 1*
guaranteed.
Bion.s of great value. During the past year tills company has contracted for tlie purcliaso of the remaining street railway Hues In operaOblo FallH Car IdannfacturlnK Co.— Incorporated under the
tion in Miiwaiikee, incliullng the West Side Street Railway — a road of
large earning capacity— so tluit the Milwaukee Street Railway Company laws of Indiana in 1892 as successor to Ohio Falls Car Co., established
and this company together now own and control tlie entire street rail- in 1865. Located at Ciarksville, near JelTorsonvllle, Ind, See adv.
road system in that city, embracing, at present, over 100 miles of Chronicle of Oct 22, 1892, and Maitland, Phelps <fe Co., 24 Exchange
operated track. * * * It is confidently believed that tlie entire rail- Place.
way and lighting system as now planned will be completed by October
Oregon IniproTeinent Company.—Tliis company controls th«
1, 1892. * * * Tlie company does all the street ligiiting for the city, Pacific Coast Steamship Company (owning $1,985,000 of its $2,000,000
under a satisfactory contract entered into last Novcnilicr, which con- stock) and operates five steamship lines running between San Frantinues for four years. • • * The entire railway system of the com- cisco, Portland, Victoria, Sitka, Fort Bragg, San Diego, <&c. Also
pany wiioii completed will comprise not less tlian 140 miles of track." largely owns the securities of the Columliia & Puget Sound RailCincinnati Edison Electric Company.—This company, the report road (narrow gauge), Seattle to Franklin, etc., mines, with sidings,
states, was organized under the laws of Ohio by a syndicate, of which etc., 57 miles and the Pacific Coast Railway (narrow gauge), Port Harthe North American Company is a member and tlio representative, with ford, Cal., to Los Ollvos, 80 miles. The Seattle & Northern Railway,
a capital stock of $1,000,000, for the purpose of establishing an exten- Anacortes to Hamilton, Wash., 36 miles; the Port Town.seno
sive central station electric plant and of securing a large electric light" Southern RR.; Port Townsend to Quilceno, Wash., 28 miles, and
ing business In the city of Cincinnati and its subiirlis. The entire work Olympia to Tcnino, Wash,, 15 miles; also operates tlie .Seattle Coal *
of estabiislilDg tliis plant will be completed before December Ist, 1802. Transportation Co. with Its New Castle mine, and the Franklin Coal
This company lias secured the contract for the public lighting of the Co. owning the Franklin mine. (See V. 51, p. 570, 747.) Company also
entire city of Cinclnnsvtl for eleven years. This contract carries with has some 3,688 acres coal land.
It also a valuable franchise for commercial lighting for the term of
History.— Defaulted in Dec. 1890, on 1st mort coupons, and Joseph
twenty years.
Simon was appolntetl receiver. A change in the management folCapital Stock.— The North American authorized capital is $50,000," lowed. Mr. W. H. Starbuck became President, the receiver was dlB000, of which only $40,000,000 has been issued, this having been ex" ohargcd. and tlie overdue coupons were paid. In March, 1892, dividend*
changed, share for share, for stock of the Oregon & Trans-Continental. were resumed on the preferred stock. See V. 52, p. 351 V. 54, p. 288.
Price of Stock.— In 1890,7^47%; in 1891, ll%®21ie; in lr92, to
Stock,— Preferred stock may be exchanged for consol. 5 per cents
Nov. 18 inclusive, llJaSlS's.
on the basis of 105 and accrued dividend for praferred stock and 90
Annual Report.— Fiscal year ends May 31. Annual meeting Is held and accrued interest for the consolidated 5s. See V. 52, p. 321, 643.
In Jersey City on third Wednesday In June. Report for 1891-92 in full
Dividends— On preferred stock (issued in 1888)— In 1888, 3>3 from
In V, 54, p, 1007, showed the following
March, 1889, to September, 1890, at rate of 7 per cent yearly; then
INCOME ACCOCST FOR TEAR ENDING MAT 31, 1892.
none until 1892, when 3^ in March and 3'a in September. On common
Cash from Intei'est, div'nds, commissions and all oth. sources. $418,119 —In 1883, 71a in 1888. II3 in 1889, iH In 1890, in February, May
and August, each 1 per cent; none since. See V. 51, p. 570.
Payments for interest on loans
$220,538
Bonds.—Under consol. mortgage for $15,000,000 (trustee. Farmers'
All expenses of administration, including taxes
51,707
Loan & Trust Co.), bonds are reserved to retire the preferred stock and
Total
271,246 ttae first mortgage bonds not in the sinking fund. See V. 54, p. 484.
LATEST Earnings.— Dec. 1, 1891, to Sept 30, 1892 (10 months),
$146,873 gross, $3,233,461, against $3,447,027 In 1890-91; net $627,813
Net cash income
Assets and LiAniLiTiEs. The company's assets, as reported on May against $616,640.
The total value of these
31, 1892, are given in the table below.
Annual Report.- BMscal year ends November 30. Report for 1890assets, as estimated liy the company, using Stock Exchange prices and 91 was in V. 54, p. 484, showing
"conservative" valuations, was placed at .$10,718,512, against wlilch
earnings and expenses (all companies).
were liabilities of $2,846,822, leaving net assets of $7,871,690. The
1891.
1891.
1890.
bills payable liere included are in the form of long-time loans, carried
;
;
;
;
:
;
—
on fixed teniis, against the security
other unlisted bonds.
Stoeks owned.
Par value.
Northern Pacific, com.. $7,450,200
Chicago & No. Pacific.
533,000
Wisconsin Central, pref.
32,500
Edison Gen'l Electric..
216,200
St Paul Edison Electric
90,100
Milwaukee Street R'y.. 2,887,000
Cln.
Edison Electric
Queen City
*
of
Milwaukee Street Railway and
Par value.
Bonds oumed.
Northern Pacific consols. $604,000
276,000
Chic. & No. Pacific Ists.
Wisconsin Cent. Incomes
45,333
Milwaukee Street R'y 5s.3,270,000
Minn. Lvndale <Si Mlnnetonka Street R'y 5s ...
699,000
Cicero 4 Proviso R'y 68. 145,000
.
.
333,300
Elec. Co's.
Earnings—
R'y, Milwaukee, paid on purcliase.. $301,350
Mllw. .St. R'y, advan's for
construction
626,358
Secured accounts
753,186
&
Total
INCOME account
Bills receivable
Miscellaneous securities.
17.5,151
.
Advan's under contract
with T. A. Edison and
Edison Gen'l Elec. Co.
for inventions, etc
Int. & div. aco't, bal'ce.
Cash in bank &. tr. co's.
Net
after deducting taxes, etc
Income from Investments, io
$52,701
184,207
912,080
357,472
Tot. miscell'us assets. $3,362 505
Net.
$2,825,840 $506,934
193,957
91,899
333,044
126.240
62,307
24,669
6,147
10,474
38,001
179,123
206,141
39,430
663,479
598,345
88,847
43,325
25,333
20,255
$2,981,345
155,490
397,656
PortTownscnd Southern RK. Co....
Steam Colliery <fe Steamship
Coal Department
Real estate and miscellaneous
Miscellaneous Assets,
West Side St
Gross.
Gross.
Pacific Coast SS. Co
Pacific Coast Ry. Co
Col.
Puget Sound RR. Co
Seattle & Northern Ry. Co
$4,407,822 $4,300,960 $909,499
COMPANIES).
1891.
1890,
$704,745
$829,690
14,357
136, ,563
(ALL.
Net income
Interest on bonds
Other interest &o
Sinking fund
$841,308
$332,303
68,497
50,000
$844,047
$553,793
75,344
50.00O
$679,137
$450,800
Directors.— Henry Vlllard; George S. Jones; Thomas F. Oakes; C. W.
Total charges
Wetmore; 8. W. Burt; J. Ilobart Herrick; D. S. Wegg; Chas. A. Spofford; Balance surplus
$164,910
$390,508
Henry C. Payne. President, Henry Vlllard; Vice-President Geo. 8.
Directors—The directors are W. H. Starbuck and C. B. Tedoastle,
Jones; Secretary and Treasurer, Edward Edes, New York Oflice, 15
of New York F. H. Prince, of Boston C. A. Dolph. William M. Ladd.
Broad St (V. 54, p. 845, 1007.)
Henry Failing, Joseph Simon, C. H. Lewis and Jonathan Bourne, all of
Nortb Hndson County (Street) Railway.—Owns 32 miles of Portland; M. v. B. Edgcrly, of Springlieid, Mass and C. J. Smith, of
Vice-Presistreet railway and elevated cable lines, operated by steam, horse Seattle, Wash. W. H. Starbuck, President; C, A, Dolph,
power and electricity in Ilolioken, N. J., and vicinity. Electricity Is dent; C. J. Smith, General Manager. New \ork office. No. 22 William
being introdui ed on both surface and elevated roads. Fertile $625,000 Street (V. 54, p. 288, 484, 643. 1048.)
of 6 per cents due Januarv, 1914, a like amount of consols is reserved.
Pacific niall Steamship.—The trans-Continental railroads giv»
Stock authorized, $1 ,250,000 outstandi g, $477,325 par value, $25. to this steamship company a guaranty of $75,000 minlmimi per montli
In 1891 gross earnings were $763.816 net, $197,804 Interest on for space taken in its steamers, in oonsideration of the maintenance of
bonds, $120,408; dividends, 8 p. c, $38,186; balance, surplus, $39,210. agreed rates; see V. 55, p. 257. As to contract with Panama Railroad,
.•.
:
;
;
;
;
;
;
;
Northwest Equipment.—Owns railroad equipment costing $3,
000,000, leased to the Northern Pacific Railroad. The rental is 7 per
cent per annum on tiie cost of the equipment and 10 per cent yearly to
the sinking fund. October 1. 1898, when the lease terminates, the
Equipment Company will be paid out of this sinking fund the original
cost of the equipment, which will then become the property of the
lessee. See statement to New York Stock Exchange In full In Chroni
CLE, V. 50, p. 73. Stock paid in 1890 6% per cent; In 1891,7; in
1892. February, 2^4, May, l»a; August, l>a; November, m. N. Y.
Office,
36 Wall
St.
Norttawrestern TeI«Kraph.—Owns 8,000 miles of wire and is
leased to Western Union for 99 years, with guaranteed dividends, rising
In year 1891-92 twop. 374.
vessels were rebuilt and two new ones constructed. All the company's
available funds and its earnings for five or six niontlis of 1892-93 hav&
been applied to these objects. The President says: "Wo will In a short
time be able to apply our earnings to the payment of dividends."
Bonds.-The mortgage for $5,000,000 was authorized for reconstruction of fieet on the China line; Trustee is Central Trust Co. Th»
mortgage covers all the company's franchises, shares of stock In the
China 8. S. Co. limited, and other property, real or personal, including
its present fleet of vessels and seven vessels to be constructed subsequent to the making of the mortgage, and all other property acquired
with the proceeds of the bonds. As a sinking fund for the first $3,000,000 of iKinds to be issued, $100,000 is to be paid to t^e trustett
modified In August, 1892, see V. 55,
.
;
;
mVESTOKS' SUPPLEMENT.
198
Subscribers
TVlII
MISCELLANEOUS.
Vol.
LV,
on
INTEREST OR DIVIDENDS.
Bonds— Prlncl-^
pal,Wlien Due.
Stocks— Last
When
Outstanding Bate per Payable Where Payable, and by
Dividend.
Bonds Value.
Cent.
WTiom.
Date
&o., see notes
Size, or
of
Par
Procter dt (7am6ie.— Common atoolc
Preferred stock (8 per cent cumulative)
First M., gold, subject to callat 110 after July 1, 1900.0' 1890
VvXlmanPalace Oai Stock
QitickMlver Mining Common stock
Preferred stock, 7 per cent, not cumulative
M'y Equip. Go. of Mi7in.— 1st M., g., iS.'50,000 red. yly at 100 1891
Shade Island Perkins Horse Shoe— Comxaon stock
Preferi'ed, 7 percent cumulative
$100
100
1,000
—
—
100
100
100
'ido
100
Paul City Bailwan—Bee Twin City Rapid Transit.
25
Southern ct Allanlie telegraph— Stock (guar. 5 per cent)
100
Boulhern Cotton OiJ—Stock ($5,000,000 authorized) ...
Iron <l R'y. Mort. bonds, inc.,7 p. c, series "B.".o 1880 500 &c,
c 1876
1,000
Plain income bonds, 6 per cent
1,000
Sterling Mountain E'y.— Ist mort. income, 7 p. o. guar. 1881
—
/Sterling
I
confer a great favor by giving Immediate notice of any error discovered In these Tables.
For explanation of column headings,
first page of tables.
St.
:
Amount
$2,250,000
2,250,000
2,000,000
30,000,000
5,708,700
4,291,300
900,000
1,000,000
1,750,000
Yearly. N.Y., A. M. Kidder & Co.
12
8 p.
ann
6 g.
8 p. ann.
40
do
Q.-J.
J.
&
J.
Q.-F.
do
N. Y. , Mercantile Nat.Bk
N. Y., Farm. L. & Tr. Co.
Oct. 15,
1892
July 1, 1940
Nov. 15, 1892
Jime
0.
IH
6g.
Aug. 15, 1892
1,
1882
N. Y., Of., 20 Nassau St. June 2, 1891
D. N.Y., Maitland, Phelps. .Tun '93 to 1901
Q.-J. Co.'s Office, Providence Oct. 15, 1892
Oct. 15, 1892
do
do
Q.-J.
J.
See text.
7 per an.
&
948,875 5 per an. A. & O. N. Y., West. Union Tel.
Philadelphia, Office.
4,000,000 See rem,
Feb. 1 N. Y., Office, 45 Wm. St.
418,000
1
495,575
Feb. 1
N. Y., Office, 45 Wm. St.
475,674
Oct. 1, 1892
June 10, 1892
Apr. 1, 1894
Oct.
July
1, 189ff
7, 1895
each Feb. 1 and Aug. 1, and upon the Issue of any of the remaining which is Included in the amount In table. Eight per cent bonds for
$2,000,000 of bonds a further proportionate sum, all to be applied to $820,000 due August 15, 1892, were paid In cash at maturity,
the purctiase of these bonds at or under 110 and Interest or to their reDividends since 1876— From 1877 to 1880 inclusive, 8 per cent; front
demption when drawn by lot at 110 and Interest. Tlie company has 1881 to 1883 inclusive, 912 from 1884 to November, 1892, both Incluthe further right to redeem any or all of the issue at the same rate.
sive, at the rate of 8 per cent yearly.
Dividends since 1880—In 1884, 3% per cent; In 1885, 5; in 1886, 1^4;
Annoal Report.— Fiscal year ends July 31. Report for 1891-92»
In 1887, 1 in 1888 and since, nil.
with balance sheet, was In V. 55, p. 676, showing the following
Annual Report.— Fiscal year ends April 30; report for 1891-92 was
1889-90.
1890-91.
1891-92.
In Chronicle, V. 54, p. 886.
Earnings (leased lines Included)
$7,473,1 36 $7,871,146 $8,061,081
1891-92.
1888-89. 1889-90.
1890-91.
Patent royalties, manuf. profits, &c. 1,387,825 1,901,178
1,941,275Atlantic lines
$777,435 $683,488 $697,291 $684,870
Panamallnes
2,006,894 2,186,352 2,262,638 2,363,613
Total revenue..
3,860,961 $9,772,324 $10,002,356
Trans-Pacific line
942,143 1,107,601 1,082,936
1,201,580
$3,274,605 $3,569,681 $3,438,863
Subsidies
103,000
103,000 Operating c.'cpenses
100,267
103,000
947,504
33,463
Interest and dividends
32,138
17,094
25,729 Paid other sleeping-car associations. 1,022,625 1,008,324
Coupon interest on bonds
65,600
65,600
MlsceUaneous
42,743
133,591
94,578
149,114
Dividends on capital stock
2,000,000 2,000.000
2,300,000
Repairs of cars in excess of mileage
139,496
Total
$4,161j057 $4,065,668 $4,298,571 $4,409,262
100,000
Expenses
3,666,162 3,555,118 3,495,650 3,688,055 Contingency accoimt
;
;
Total disbursements
$6,462,830 $6,783,101 $6,751,967
Netearnlngs
$494,895 $510,550 $802,921 $721,207
Net result
$2,398,131 $2,989,223 $3,250,389'
Directors and Officers— Collls P. Huntington, Henry Hart, Isaac
New York office, 15 Broad street.— (V. 51, p. 494, 535, 570, 719 VE. Gates, Calvin 8. Brice, Samuel Thomas, Jay Gould, Russell Sage
53, p. 570, 601, 639, 676.)
Geo. J. Gould, President J. B. Houston, Vice-President; William H.
Lane, Secretary Jos. Hellen, Treasurer. Office, Mills Building, New
Quicksilver Mining.— Owns quicksilver mines
NewAlmadeUt
York Clty.-(V. 53, p. 608, 804; V. 54, p. 866; V. 55, p. 257, 374, Cal. The preferred stock is entitled to 7 per cent at annum, nonper
723.)
cumulative, and any surplus goes to the common and preferred equally.
;
;
;
Pennsylvania Coal.—Dividends since 1880—In 1881, 15 per cent
from 1882 to November, 1892, Inclusive, at rate of 16 per cent yearly.
.
Peoria ^Vater.— Owns water works
at Peoria,
III.,
purchased from
the city In 1889, on the agreement that they should be enlarged and
Improved. Bee full statement in Chronicle, V. 52, p. 535. Tlie mortgage is for $3,000,000, anil of the bonds $295,000 are held to retire
a like amount of city water bonds. Stock, $1,000,000; par, $100. (V.
Fiscal year ends April 30.
The following table shows the result of operations of tills company
for tlie past five years, the tot,al quicksilver production of California
having decreased from 33,760 fiasks in 1887 to 22,904 flasks in 1891..
See V. 54, p. 367.
Flasks
Total
Quicksilver,
Value
Total
produced.
value.
profit.
per fiask. earnings.
1887
20,000
$345,411
$774,389 16 $38 73
$825,793
54, p. 965.)
1888
18,000
143,741
678,143 61 37 67
699,517
1889
164,659
13,100
575,757 00 43 95
595,004
Plilladelplila Company.—In 1887 the Chartiers Company was 1890
12,000
688,010
281,535
620,007 96 51 66
leased for 9() years at a rental which is now 24'8 per cent of Philadel- 1891
341,179 def. 57,523
8,200
324.718 19 39 60
phia Company's not earnings moutlily. The Philadelphia Company
controls the natural gas production about Pittsburg and vicinity,
Dividends— On common, in 1881, 214 per cent; in 1882, 2g; nothing
owning or leasing 40,582 acres gas territory and 697 miles of pipes.
since. On preferred— In 1881, 914; in 1882,6; in 1883, nil; in 1884,
In year ending March 31, 1892, gross earnings from gas sold, $2,227,- 3; in 1885, nil; in 1886, 2%; in 1887,3; In 1888,6%; In 1889,3; in
453 disputed accounts, $767,578 dividends received, $29,832 total 1890, February, 3, lig; May 1,1^3; August 1, II3; In 1891, Jan. 2,
receipts, $3,024,864; operating expenses, interest, rentals, etc., $811,- m; June2, II4. New York office, 20 Nassau street. (V. 47, p. 49; V.
103; bonds and accounts paid, $767,613: new lines, gas wells, etc., 49, p. 50; V. 54, p. 367.)
$657,154; dividends, $75,000 balance, surplus, $713,994. On March
Railway Equipment Company of Minnesota. —Owns equip31, 1892, there was due for construction $137,010, payable $30,000
monthly. Dividends.— The January, 1891, and subsequent dividends ment costing over .$1,500,000, which is leased to the Chicago St. Paul &
were passed, but in April, 1892, paid 1 per cent, and In October, 1 Kansas City Railway Company at a rental which is to be more than
sufficient to pay the iuterest on the bonds, to retire $50,000 bonds
(V. 54,p. 1008.)
yearly at par and to redeem the balance of the issue at maturity in
P. Iiorlllard Company. Incorporated under laws of New Jer- 1901. Lessee is to keep the property n repair. Stock paid in $996,500.
sey July 1, 1891, for the purpose of carrying on the tobacco business of Dividend— 3 per cent paid November, 1892. See advertisement In
P. LorlUard & Co. In Jersey City. Dividends on pref. in 1892, Jan., 2 Chronicle of July 18, 1891.
per cent; April, 2 per cent; July, 2 per cent; October, 2 per cent. On
Rhode Island-Pcrklns Horse Shoe Company.—Commenced
common In 1892, 10 per cent. For year 1891-92 net profits applica- business in 1874 and incorporated as a joint-stock company July, 1891,
ble to dividends were $496,313; paid on preferred, $160,000; on under the laws of the State of New Jersey. After payment of 7 per
common, $150,000; balance, surplus, $186,313. See report, V. 55, p. cent per annum on the cumulative preferred the common stock Is to
373. Net profits were reported for 1887 $758,558; 1888, $235,377; receive up to 10 per cent; after that both are to share equally Net
Main office, Jersey City, N. J. earnings in 1891 were $368,960-87; in 1890 $265,448-52. For years
1889, $386,750; 1890, $558,960.
Baring, Magoun & Co., Transfer Agents. (V. 53, p. 641; V. 55, p. 373.) 1887 to 1891 inclusive net earns, averaged $362,654-73- an amount
on the pref. and 1 1 14 per ct. on tlie common
8 H per
Postal Telegraph Cable.— This company Is successor to the sufficient to pay surplus.cent earnings for the 6 months ending Decemstock, leaving a
Net
Postal Telegraxih Company and Postal Telegraph & Cable Company. ber 3l8t. 1891, about $177,000. See advertisement in Chronicle of
The old bonds took new stock for 35 per cent of their face, and the old November 28, 1892.
stock 5 per cent of its amount in new. Foreclosure suit begun by FarmDividends. On preferred 7 per cent per annum. On common, in
ers' Loan & Trust Company November, 1385, and sale took place January 15, 1886. Stock Increased in 1890 to $10,000,000 for franchises, ex- July, 1892, 10 per cent, of which 5 per cent to stockholders of record
Jan. 1, 1892, and the remaining 5 per cent, or one-halt, to stockholders
tensions, &c. A. B. Chandler, President, New York. (V. 48, p. 533; V.
President, F. W. Carpenter, Esq.,
of record July 1, 1892 in Oct., 2ii2.
50, p. 423, 703; V. 52, p. 239.)
Providence, R. I. Transfer Agents, Maitland, Phelps & Co., New York.
;
;
Year.
;
;
—
—
i
—
;
Ponghkeepsle Bridge Co.—See Philadelphia Reading & New
Paul City Railway.— See Twin City Rapid Transit.
Silver Bullion r.ertlflcates. — The silver bullion certificates
dealt in on the N. Y. 8tock Exchange represent each 1,000 ounces of
the laws of New Jer.sey to acquire and carry on the soap, candle, oils
bullion deposited with tlie Mercantile Safe Deposit Co. of Newand glycerine manufacturing business of Messrs. Procter & Gamble of fine silver Thev are subject to a storage charge of oue cent per day per
York City.
Cincinnati. The mortgage covers about 67 acres of land adjoining the
1,000 ounces. On Nov. 22, 1892, the Safe Deposit Company reported
City of Cincinnati, together with the 29 factory buildings thereon. Of In Its possession in trust for outstanding certificates 1,459,000 ounces
the common stock $1,000,000 is not to receive dividends until 12 per of silver bullion.
cent has been iiaid on the remainder of the common stock.
Southern Cotton Oil.—This company Is organized under the laws
Dividends— On common stock— In 1891, August, 8 per cent; in 1892,
of the State of Now Jer.sey, and owns eight crushing mills in as many
August, 12 per cent.
cities of the South with an aggregate capacity of 1,600 tons of seed
Earnings— For year ending June 30. 1892. net profits were $619,629, per day; also owns 6 refineries, etc. In 1889 paid 12 per cent on stock
(against $601,031 in 1890-91); deduct interest on bonds, $120,000;
in 1892, March, 213 per cent; Juno, 2\t. See statement to New York
dividend on preferred stock, $180,000; dividend (12 per cent) on
in Chronicle, V. 49, p. 404. President, Henry
common stock, $270,000; balance carried to surplus fund, $48,968; Stock Exchange in full403. 404.)
C. Butcher. (V. 49, p.
total surplus fund July 1, 1892, $250,000. See V. 55, p. 298. Office,
Cincinnati.
Southern &: Atlantic—Lines leased to Western Union and etook
Pullman's Palace Car Co.—The stock has been increased from guaranteed by the rental, 5 per cent per annum.
time to time to provide new capital, as wanted, and $5,000,000 new
Sugar Refineries— Sugar Trust.- See American Suoar Befik
stock was authorized by stockholders October 15, 1891 (V. 53 , p. 570), ISO Company.
England BR. amongst Railroads."
Procter & Gamble Co.— This company was formed
'•
in
1890 under
St.
—
: .
NOVEMBBB,
MISCELLANEOUS STOCKS AND BONDS.
1892.]
Snbserlbers
irlll
confer a
irreat
favor by ctvlng; Immediate notice of anjr error discovered In tUeae Tables.
MISCELLANEOUS.
Date
ooliiinn headings, &e., see notes
first page of tables.
For explanation of
Ooal—lat M... g., 9. f., .<*ubj.
<t IIR. Oo.— Common stock
Siinilay Creek
to call at
on
105.0*
tenn. iJocd I.
Proforrcd stock (8 per cent cum.)
Tenn. Coal & RR.— Tracy City Ist and 2d mortgages
Par
INTEREST OB DIVIDENDS.
Size, or
of
When
OutstandiQg Rate per Payable Where Payable, and by
Cent.
Whom.
Bonds Value.
1892
Amount
100
KM)
1,000,000
157,400
35,000
122,000
1879 200 (fee
1881
1,000
1882
1,000
1882
1,000
o'
1,000
Pratt Coal & Iron Co., Ala., let M., s. f., not drawn. ...o* 1883
l,00O
Birmingham, Ala., Div., con. M., g.,s. f. 1%, not d'rn. .c* 1887
1.000
Tennessee Div. bds, gold, s.f. l^s % yearly, notdr'n.. .o" 1887
De Bard. 1st M., gold, guar., s. f. $30,000 y'ly, not dr'n.c 1800 500 &c.
Terminal Railroad Association — First mortgage, gold...c* 1889
1,000
100
St. Ijouis Bridge & Tun. RR. Ist pref. stock, guaranteed.
100
2d preferred stock, guaranteed
1st mortgage
o* 1879
1,000
Tunnel Railroad of St. I^ouis, stock, guaranteed
Texas Pac. Land Trust— "Certificates of propriet'y Int'st"
ioo
Third Avenue Ry.CN. r.;— Stock
100
Ist mortgage, gold
1,000
c 1887
Thomson-Houston Electric.— See General Elbctric. —
Thurber- Whyland^Commou stock tor $1,500,000
100
Preferred, 8 per cent cumulative
100
Trenton Potteries.— Coiavaon stock
100
Preferred stock, 8 per cent cumulative
100
Trmo IHreclory Printing <* Bookbinding Stock common.
100
Preferred, 8 per cent cumulative
100
Consolidiited mortfrciif^o
300,(K)0
645,000
3,490,000
1,315,000
3,000,000
7,000,000
2,490,000
3,000,000
5,000,000
1,250,000
$453,989
$440,078
&
Feb.
1902
1,
1892-1902
Nov.
Jan.
Jan.
Feb.
190*
1917
1917
1,
1,
1,
1,
1,
lOlO'
1939
Oct.
July,
July,
1892
1892
o. New York and I,ondon. Apr. 1, 1928
J. N. Y., Drexel, M. & Co. July 1, 1892
J.
J.
N.
J.
do
do
do
do
New York.
N.Y.,Farmers'L.&Tr.Co
N.Y.Offloo.lia ReadeSt.
do
do
A.
Q.-M. N. Y., A. M. Kidder* Co.
New
Q.— F.
Nov., 1892
July, 193T
Feb. 23, 1892-
Aug. 23, 1892
Sept. 10,
1892
Nov. 15, 1892
York.
It Issole-
its
Texa« Paclflc Ijand Trust.—The certificates of this Trust repretlio ownership of the lands formerly belonging to the Tex,i9 & PaRailway. The trustees of the land trust are Messrs. Charles J.
Cauda. Simeon J. Drake and William Strauss, of Now York, and the
lands received oonsistedof 3,450,642 acres and also $399,731 secure*
by purchasers' contracts. On January 1, 1893, ttiore remained to the
sent
cific
trust 3.359,945 acres of land. $107,315 deterred payments and $236,bills receivable.
In 1891 there were sold 15,297 acres and 94 town
for $19,433. against sales of $184,879 In 1890.' Rentals received from grazing lauds, $19,334. See desoriptiou of lands in V.
47, p. 344. New York Office, No. 11 Pine Straet.
045
lots
Third Avenue Railway, X. IT.—Tills company owns a street
horse railway from Park Bow, New York City, via Third Avenue, to the
Harlem River, 8 H miles; and a cable road from Manliattan Street^
North River, to 125th Street, Harlem River, with branch 5 % miles;
total, 14 miles double track. A cable is being laid on tlie Third Avenue
Hue, and an increase of stock from $3,000,000 to $5,000,000 h>^s been
autliorized to meet the expense, the last .$1,000,000 of this being issued
to stocldiolders of Oct. 8, 1893. The work is expected to be completed
in 1893. Paid dividends of eleven per cent in 1889 and of 12 per cent
in 1890 and 1891; inMay,1892.4; Nov.,3. In year ending June 30, 1892'
gross earnings were $1,741,072 surplus over interest, &c., $318,096,
against $351,413 in 1890-91; dividends, $340,000; surplus, $78,096,.
—(V. 53, p. 59. 714 V. 54, p. 965; V. 55, p. 461, 733, 857.)
Thomson-Houston Electric—See General Electric.
Tlinrber-Wliyland.— Organized 1890 under the laws of the State
of New Jersey to t.ake over the entire property and to carry on the
business of the firm of Tliurber.Whyland & Co., inanufacturiug. importing and wholesale grocers and dealers in general merchaiulise. See
V. 52. p. 131. Complete statements of earnings are to be published semi-annually. A general reduction of wages took place In
July, 1892, on account of light business. Average net profits of the
old firm for ten years ending Jan. 31, 1893, were $330,03 1
not profit
for year ending January 31, 1893, about $210,942. Divide.vds. Onpreferred from August, 1891. to August, 1892, both Inclusive, 4 per
cent semi-annually (8 per cent per annum). On common stock Itt
1892, February, 8 per cent (annual). Office, 116 Reade St., N. Y.
Trenton Potteries Company.— Oroanizatidn, Etc.—In iorporated under laws of New Jers -y in May, 1892, to taka ov r and continue th« business of fivi Tr nton, N. J., pottery companies which
werrtthen supplying, it was said, about 75 p-r cent of tin country's
total output of s.inltary plumbing war,-, together with som6 toilet an4
table ware. Real Estate, buildings, machinery, etc., so acquired In
fee simple wen appraised at $366,000;
rehandise, cash in bank,
(to., at $524,000. 8TocK.—Prsf-<rred stock has pref "rential lien upon
all the prop rty and assets. No bond or raortgag i can b i criat«d without consent of 90 per o mt of preferred stockholders. Company started
without liabiliti' s of any kind. Net Profits of thi corapaui -s in
1891 w- re $401,000, avcragf net profits for tlirie years 1888-1891 were
$314,573. Profits for 1891 equal 8 per o«nt on prrtf rr.^d and 16 per
o-nt on common. See adv. Chronicle June 11, 1892. A. M. Kidder <fe
Co., 18 WaU St., Fiscal Agents
Directory Printlns ic Bookbindlnz.—This company
was organized in 1891 under the laws of the State of New Jersey to carry
on the business of tlie Trow Directory Co., which was established In
1786, and of Trow's Printing & Bookbinding Company, estalUislied In
1826 two companies heretofore conducted separately. The parties In
Interest in the old companies and their associates retain the ownership
of $500,000 of the common stock. There will bo no mortgage on any
of the property unless liereafter ordered by a vote of 90 per cent o f the
stockholders, and the new comi»any begins business without a deb t of
any kind. The registrar of the stock is the Central Trust Company.
The average net profits of the two concerns for the five years en ding
December 31, 1890, after providing for cost of materials, labor, cost or
renewals and repairs, etc.. as determined by public accountants, was
$133,282. Profits for 1890 were$143,736. See advertisement in CnHOHICLE of July 18, 1891. Q'lartcrly dirtdends of 2 percent (8 per annum>
are paid on preferred stock. Robert W. Smith, President, New Yorlc
;
;
;
$453,727
Y. Hanover Nat. B'k
J.
O. N.Y.,4th National Bank
A. N. Y., Nat. Park Bank.
O. N. Y., Droxol, M. & Co.
Feb.
1,750,000
1,250,000 8 per an.
750,000
750.000 8 per an.
do
do
do
proportion to the extent of onc-sevcnth of $1,000,000 to
dollcieiicy. Capital stock, $1,441,200.
and tlie Tunnel are for the terms of their corporate existence, and were made .Itily 1, 1831, to the Missouri PaclOo
and the Wabash, bv which companies they were assigned to the present
association. Under the lease the lessee guarantees 6 per cent on the
Bridge Company's .$3,490,000 first preferred stock. 3 per cent on its
$3,000,000 second preferred stock and 6 per cent on the Tunnel Company's $1,250,000 common stock. The Bridge Co's. $3,500,000 common
stock was held by the Mercantile Trust Co., with power to vote on it.
The mortgage of 1839 (trustee. Central Trust Company) was described in advertisement in Chroxiole of Feb. 13, 1892. In 1891
gross earnings were $1,756,439; net, $938,470; income from rents, &o.,
$123,665; total net, $1,062,141; interest, $374,340; rents, $091,401;
imurovements, $61,733; balance, surplus, $31,661. (V. 52, p. 680; V.
54," p. 277, 289, 4-44, 485.)
—
$376,697
N.
do
do
do
Tlie leases of the Bridge
;
Totl dlsbursem'ts.
8
O.
1913
1,
July 15, 1892
Apr. 15, 18M
Nov. 1, 1901
make up any
TenneKsee Coal Iron Sc Railroad Company.'—This company
owns blast furnaces, coal mines, iron mines, foundries, Ac and coal
and iron lands in Tennessee and Alabama. Tlie total area of mineral
lands and rights owned by the company in 1891 was 203,333 acres, of
which 81,998 acres are in Alabama and 126,425 acres are in Tennessee.
Of the latter 53. 135-5 lie in Cocke and Green counties, in the eastern
Balance, surplus.... $289,395
$209,901
$327,573
$251,993
N. Y. Olflce, 49 Broadway.
—(V. 52, p. 41, 571, 609, 643, 679, 718; V. 54, p. 410, 447, 486, 801,
844, 861, 968, 1011; V. 55, p. 60, 257, 463, 551, 810.)
Terminal RR. AMsoclation of St. Lonls.—This company aoquired October 10, 1889, tlio leases of the St. I>ouis Bridge anil the
Tunnel RR. of St. Louis, and purchased the properties of the Union
Depot Company of St. Louis, and of the Union Railway & Transit Com-
1»9
I'-
1,.500,000 8 per an. F.
tribute
ings per annum for four years about $73,000; interest charge will be
$24,000.
Bonds.— The bond.s are issued for refunding and for purchase of docks
at West Superior costing $182,000. Tliey are a mortgage ou the entire
propei-ty, valued at $1,250,000, and have a sinking fund of 2 cents per
ton on all tl>e "royalty" coal mined after tlie Ist of January, 1895.
Stockholders are also individually liable under the laws of Oliio for
debts of company equal to par value of their holdings.
.
3
A.
Dividend.
Dec.
on these bonds, in addition to ta^es, rentals .and other charges, and if,
owing to any temporary unforeseen oircumHtances the net earnings
should not 1)0 sniHcieut to meet tlie fited charges, each lino will con-
$3,250,000.
Operations.— Output has been— In 1888,585,103 tons; 1889,531,501 tons; 1890, 5.57,458 tons; 1891, 619,988 tons. Averaze net earn-
portion of the State on the borders of North Carolina. See a full statement of the property in V. 44, p. 245.
On Sept. 12, 1892, tlie stocklioldors ratified tlio proposition tq acquire
the Caliaba Coal Mining Co. and the Eicelsior Coal Mining Co., of
wliicli Mr. T. H. Aldrioli is the President. The combined properties
consist of some 44,000 acres of coal and iron lands situated in the
counties of Bibb, Shelby and Jefferson, Alabama, with an output of
about 800,000 tons of coal per annum. See Cahaba Company in this
Supplement and V. 55, p. 60, 463.
An amalgamation of this comnany with the De Bardeleben Coal &
Iron Company was consummated in September, 1892, but the separate
corporate existence of the Do Bardeleben Co. will bo maintained.
The De Bardeleben Co. brings into the Tennessee Co. 150,000 acres
of valuable coal and iron lands in Alabama [including 93,199 acres
owned in fee simple and 43,856 acres of mineral rights, balance being
surface rights, water rights, etc.], seven new furnaces, ail constructed
In the last four or five years, with a daily output of about 700 tons, six
coal and six ore mines so far developed and in active operation, with a
dally output of 3,000 tons each about 30 miles of railroad with i)roper
equipment, 1.100 coke ovens, about 1,000 buildings from which annual
rental is received. The net earnings of tlie De Bardeleben Co., as shown
by its last annual report, was about $475,382, while its fixed charges.
Including interest on its bonds and sinking fund were $232,971. See
V. 54, p. 447, 486, 1011.
Stock. Common stock authorized, $20,000,000. The amount outstanding was increased by $7,850,000 in 1892 to purchase the De Bardeleben property, and $3,000,000 more will be issued to absorb the Cahaba and Excelsior companies. (V. 55, p. 463.)
Dividends. On common In 1887, 1 per cent,andnone since. On preferred in 1889, 8 per cent in 1890, January 1, 2*s ; the remaining lij
per cent being taken by State as ta.x under law now repealed.— (See V.
60, p. 72); in August, 1890, 4; In 1891, 8; in 1892, Jan., 4; July, 4.
Bonds.— The two issues, known as the Birmingham Division and
the Tennessee Division bonds, are each a lien on their own property, as described In the mortgage, and a second lien on the property of
the other division. The total autliorized issue of the Birmingham
Div. loan is $5,000,000 [of which $540,000 bonds have be«n cremated]
and of the Tenn. Uiv., $1,400,000, of which $85,000 are in the sinking
fund. The Tracy City 1st and 2d mortgage 6s and the consolidated 68
due in 1901 are all exchangeable at par for bonds of the Nashville
Chattanooga <fe St. Louis Railway Company held by the Central Trust
Company. The De Bardeleben bonds tor $3,000,000 when fully issued
win constitute the only mortgage debt on that property. They are
guaranteed Ijy the Tenn. Coal & Iron, under terms of purchase.
Latest Earnings.- From Jan. 1 to Sept. 30, 1892; not, $619,900,
against $449,200 in 1891; surplus over charges, $194,300, against
$161,200. Bessemer Division (De Bardeleben Coal & Iron Co.) being
included only in 1892.
Annual Report.— Fiscal year ends January 31. Report for 1891-92
In full In V. 54, p. 844. Reports have shown as follows
1888-89.
1889-90.
1890-91.
1891-92.
Coal, output, tons . 1,375,577
1,619,020
1,583,170
1,776,881
Coke,output, tons...
456,605
498,014
521,729
509,906
Pig iron,output, tons
200,750
264,648
260.378
290,220
Iron ore, output,tons
126,271
124,574
109,508
117,160
Total net profits
$666,092
$781,300
$663,890
$692,071
Interest on bonds...
322,291
351.484
3.55.956
351.193
MlsceU. interest,&e.
14,406
22,243
18,033
8,885
Dividends
40,000
80,000
80,000
80,000
4>2g.
N. Y., 4th Nat. Bank.
O. N, Y., Mechanics' Bank,
do
do
N.
J.
pal.WheuDiie<
Stocks— hatt
owners: Tlie Cleveland Cincinnati Chicago & St. Ijouls, Louisville &
NashvUle, St. Louis Iron Mountain & Southern, Ohio & Mississippi,
Mi.s.souri Pacific and Wabash. These companies have agreed under
contract to use this property forever and to pay as tolls a sum intended,
under ordinary circumstances, to be sufficient to provide for interosit
Stock.— Preferred, $1,500,000, has paid 3 per cent per annum; comis
6g.
Og.
Og.
D.
£on<i«— Prinol
panies and Terminal Railroads of St. Louis and East St. Louis.
composed of the following proprietary companies, which are the
—
o.iMiZATio.v, Property', etc. An Ohio corporation for mining and
marketing mineral coal, manufacturing coke, etc., its property consisting of about 14,000 acres of coal lands in Perry and Athens counties, Ohio, with improvements thereon, including houses, also dock
property at West Superior, Wis. Has in active operation four mines,
having a capacity of 4.000 tons of coal per day.
stock
per an.
6
6
6
7
7
1,000,000
New York City.
&
&
&
&
&
&
*
&
&
&
&
&
&
&
&
&
&
J.
8.761,731
5,000,000 See text.
5,000,000
5 g-
—
Sunday Creek Coal Company of Columbus, Oiilo.—Or-
Cg.
$400,000
16,850,000
f 1,000
South Pittsburg Purchase, Ist mortgage
AUce Furnace Co., Alabama. 1st mortgage
mon
ia»
;
m
,
Trow
—
City.
,;J.
»iu«-jfll
..
.'nTtttM
_.^:^^
.
.
—
180
INYESTORS'
SUPPLEMENT.
(Vol. LV.
:
.
November,
AND BONDS.
Mir CELL A.NE(JUS ST' KJKS
1892.]
1«1
Subscribers will confer a Kreat faTor by sivlnc immediate notice o( any error diecoTered in these Tables.
MISCELLANEOUS.
for explanation
column licadluKS,
Urst page of tables.
of
Date
&o., see notes
on
Size, or
TrarwH— Stock ($20,000,000 authorized)
Minneapolis St. R'y Co. 1st mort., redeem, yearly at 105 1880
1883
Second mortRaRo, Rold
1V>»» City Rapid
o*4r 1889
First consolidated, sold
St. Paul City Railway Co., Ist oonsol. mortgage, gold... 1884
Cable con.sol., M..gold,guar.by Twin City Rap.Tr.Co.c* 1887
Debentures, gold
gold, red. at 110 after Nov. 1, 1895
Book— Common stock
Preferred, 8 per cent cunmlatlve
c
1st mortgage, for $1,000,000, gold
United Staieji Expresg—Stocli
Vnifm Ferry— l»t M.,
Cntted Stales
United Slates Knbber— Common
Preferred (as to assets and earnings) 8 p. c. cumulative
Wells, Fargo tt Co. A'j/jres*— Stock
Western ViLi/tn Tele-qraph — Stock
Real est. hds., g., (lien ou W.U.Bldg., N.Y.C.)s.f.(not.dr.)
c&r
Debentures (if drawn, surrender is optional)
Debentures, sinking fund 1 per cent, drawn at 100
c
Collateral Trust bonds
Westinghouse Electric <* Manufactur'g,— Old eom. stock..
Assenting stock
i
1890
1890
..
.
$1,000
1,000
1,000
1,000
1,000
1,000
lOO&c.
100
100
1890
100
100
100
100
100
ThtIh cHy Rapid Trannlf.—f See Jlfap.;— This company, with a
wiiieh $15,000,000 has been Issued and
$5,000,000 is still iu tlio company's treasury, owns, controls and operates, uuder exclusive charters, all the street railway linos of the two
cities, Minneapolis an<l St. Paul
the original companies being known
as the Minneapolis Street Railway Company, Minncaiiolis Lyndale &
Minnetouka Railway Company, and the St. Paul City Railway Company. The above Includes also the exclusive right to operate street
capital of $'30,000,000, of
;
cars" between the two citirs.
The entire system now consists of 20.5 miles of standard gauge road,
of which 190 miles is electric and 15 miles cable, all of whicli has been
Tecently built or rebuilt, and tliorouglily equipped. A double track electric line, 9 miles long, connects the business centres of the two cities.
Bonus.— Tlie Minneapolis Street R'y Co. Jointly and severally with
the Minneapolis Lyudalo & Minnetouka Railway Company has issued
^1,970,000 (which includes $980,000 held in trust by the Farmers' Loan
& Trust Company to redeem tlie $980,000 prior lion bonds) 5 per cent 30rear hrst mortgage and first consolidated mortgage gold bonds under
a mortgage limited to $5,000,000.
The St. Paul City Railway Company has Issued $4,157,000 5 per cent
50-year cable consolidawd bonds (including $680,000 held by the Farmers' Loan & Trust Company, trustee, to redeem the $680,000 prior Hen
bonds above) under a mortgage limited to $5,500,000 l)onds. Under
the mortgage these bonds can only be issued against the actual cash
cost of construction, under a mileage limit of $15,000 per mile. These
consols arc endorsed with an unconditional guaranty of principal and
Interest by the Twin City Rapid Transit Co.
The St. Paul Company has also issued, under a mortgage subject to
the above, $1,000,000 gold debenture 6 per cent 10-year bonds.
ASSETS.— The assets of the company, as shown by the last annual report (not including the franchise or right of way) is $12,868,261, of
which $2,298,852 is real estate.
Eaknings.—The statements of the above company show that the
«ro98 earnings of the property now owned and controlled by the Twin
City Rapid Transit Company during tlie 10 years up to and including
1888 increased at the average rate of 32 per cent per annum, and the
average increase for tlie two years including 1891 is 34 per cent per
annum. For lOmonthsendingOct.Sl, 1892.gro8searning»$l,777,478.
The gross earnings for 1891 are $1,820,592, and surplus after paying
all interest charges, $310,974.
Fisoal Agents, J. Kennedy, Tod
A Co., 45 Wall Street.
(V. 54, p.
544.
United StateH Book Co.—Organized in 1890 under the laws o
New Jersey to manufacture and sell books, magazines, newspapers, &oIt acquired the entire business, stereotype and electrotype plates,
books, stock In trade, good will, copyriglits. &c., of the John W. Lovell
Company and the National Publishing Comp.any of New York; also,
the stereotype .and electrotype plates, copyrights and good will of the
most popular standard works,12mos., and works of fiction publLshed in
this country by 13 New York firms, 3 Boston firms, 1 Albany firm, 2
Chicago firms and 3 Philadelphia firms. Among the foregoing are in-
cluded Dodd, Mead <& Co., G.W. Dillingham, George Muuroe, Estes A
Lauriat and J. B. Lippincott. The company began luisiness Aug. 1, 1890,
and for the five months ending December 31, 1890, the net earnings
were $151,056. Preferred stock has preference in respect of as.sots in
caseof liquidation, as well as in respect of earnings. Stock listed in
June, 1891. As to bonds see adv. in Chronicle of Jan. 9, 1892. Horace
K. Thurber, President. N. Y. Office, No. 5 East 16th Street. (V. 52,
p. 974.)
United State* Express.— In September, 1887, the stock wan Increased $3,000,000, raisinglt to $10,000,000, and the Baltimore & Ohio
Express was purchased. Dividends since 1880— From 1881 to 1887
inclusive, 4 per cent; in 1888, 5; in 1889, 5. In May, 1890, 2; inNov.,2;
ta 1891, May, 2; then none till Nov., 1892, 2 per cent.
United States Knbber.—Ouganization and Propertv.— OrNew Jersey in October, 1892, for the manufacure of ruliber lioots and shoos, etc. Either owns absolutely or permanentiy controls nine out of the flfteeu concerns then engaged in
this business, including the American Rubber Co. of Boston, the Can<lee Company of New Ilaven, the Goodyear Rubt>er Company of NauUatuck, etc.; it will also control three of the other establishments.
Stock. Preferred stock has preference as to assets and earnings,
and no bonded or mortgage debt can be created without consent of
three-f (mrths of each class of stock. Common is entitled to all surplus
after eight per cent on preferred. Application will be made to list the
stock on the Stock Excliange.
DlHECTORB.- William Harljour, Henry W. Cannon, Oliver S. Carter,
President National Bank of the Rcpul)lic, New York; James B. Ford,
President Meyer Ruliljer Company, New Brunswick, N. J.: Henry L.
Botchliiss, President L. Candoc & Co., New Haven, Conn.; D. H.
King. Jr.. William C. Martin, Pnisident New Brunswick Rubber Shoe
Company, New Brunswick, N. J.; J. Edward Simmons, President
Fourth National Bank, New York; John P. Townsend and EbenczorK.
Wright, President National Park Bank, New York. N. Y. Office, 22
fanized under laws of
—
William Street.
"Wells, Fartro Express.-No annual reports or information. In
March, 1888. tliis company bought the Erie Express of the New
York Lake Erie & Western Railroad Company. Dividends of 8 par cent
yearly have been paid for many years. (V. 46, p. 371 V. 48, p 172.)
Western Union Telegraph.- Cliartered under the laws of New
York State on April 4, 1856, with capital stock of $500,000. On July
1, 1869, its capital amounted to .$-tl,003,lOO, having been increased for
:
ue acquisition of
new properties and by the payment of stock dividends. In June, 187^ a stock distribution of 17 per cent was made of
•took previously in the ccmpany's treasury. On Jan. 19, 1881, was dated
$15,000,000
380,000
7
M. A N.
600,000
6 g- H. & N.
3,990,000
5 g- JlS&JlS
680,000
« g- A. & O.
3,477,000
5 g. JlS*Jl6
1,000,000
6 g. M. A N.
2,200,000
a g- M.de N.
1,250,000
2,000,000
600,000
"e g. J. A J.
10,000,000 See text M. A N.
13,473,500
13,473,500 8 per an M.'i' N.
6,250,000 3 per
J. A J.
See text.
Bee text Q.-J.
1,214,000
7 g- M. A N.
4,920,000
M. & N.
7
831,066
6 K- M. A B.
8,262,000
6
J. A J.
272,550
5,727,450
m
1,000
1872
1,000
1875
1875 £100 &c
1,000
1888
50
50
Bonrf»— Prlnetpal, When Dae.
payable and by Stocks— L&»t
Vt hom
Dividend.
INTEREST OR DIVIDENDS.
Amount
Rate per When
Bonds Value. Outstanding Cent. Payable
Par
of
VSHiere
N.Y.,
Farm.
do
do
do
do
do
L.
A Tr. Co.
do
do
do
Not.
Nor.
1,
1,
1910
1918
Jan. 15, 1919
Oct.
do
1,
1934
Jan. 15, 1937
May
do
K. Y., H. B. HolUns.
Nor.
1,
1,
1900
1920
N. T., Cbase Nat. Bank.
1910
N. Y., Offlee, 49 B'way. Nor. 15, 1892
New
New
N. Y.. Office, 63 B'way. July 15, 1892
N. Y., Office, 195 B'way.
See text.
N. Y., Union Trust Co. May 1, 1902
Y., Treasurer's Office. May 1, 1900
N.
London, Morton, R.& Co. Mch. 1, 1900
N. Y., Office, 195 B'way. Jan. 1, 1938
the grand consolidation, in which the Western Union raised its stock to
$80,000,000. giviug par. or $15,000,000, for tlie stock and Iwnds of the
American Union, 00 per cent for old At. i Pac. stock iu new West. Un.,
and a stock distribution of 48 ^ per cent to West. Union shareholders.
A scrip dividend was paid iu April, 1886, and in 1887 this scrip convert<*.d into st^iuk, increasiug the company's capital from $80,(J00,000
to $81,'200,00O. wiiicli was further increased in November, 1887, by the
Issue of .$5,000,000 of stock in payment for the telegraph system of
the Baltimore & Ohio Telegraph Company.
In October, 1892, the stockholders voted to increase the stock from
$86,200,000 to $100,000,000. See V. 55, p. 463, 545, 724, 755, 806, and
dividends below.
DrviDK.NDs.- In April, 1886, the quarterly dividend was paid in scrip,
and no more dividends were paid till July, 1887, when cash dividends
were resumed at 1 per cent, afterwards Increased to 1*4 p. c. quarterly.
In January, 1890, an extra dividend of % of one per cent wa^paid. On
Dec. 3, 1892, a stock dividend of 10 per cent is payable on $86,109,852
stock.
Price or Stock.— In 1884,493)7818;
In 1885, 53>s®8138; in 1886,
in 1887, 67ia®81''8; in 1888. 70%®86»i; in 1889,
in 1890, 71%®87; iu 1891, 76®85>fl; in 1892 to Nor. 18
Inclusive, 82'a)10038.
Bonds.—The collateral trust bonds of 1888 (trustee. Mercantile Trust
Company) are issued to retire an equal amount of stock and bonds of
various telegraph and cable companies for the interest or dividends on
which the Western Unitm Company is liable, these when so retired to
be held as security for the new bonds.
Explanation as to the nominal surplus of the company, which on Jnly
1, 1892, amounted to $13,576,1'37, was in CBKOmcLE, V. 47. p, 440.
Latest Earnings. Estimated net earnings for the quarter ending
Sept. 30, 1892, compare with the actual results In the same quarter of
1891 as follows:
Quarter ending Sept. 30.
Actual, 1891. Estimated, 1892.
60»8®80>a;
81»B®88%;
—
Net revenue
Interest on bonds and sinking fund
Net revenue
Less dividend
$2,171,154
242,300
$1,957,140
1,077,411
$1,928,854
.'
(m%)
(i»4%) 1,077,405
Suri>lu8 for quarter
$851,449
11,417,741
Nominal surplus Sept. 30
$879,629
13,576,127
$12,269,190
Add nominal surplus June 30
$14,455,756
Annual Rei-ort.- Fiscal year ends June 30;
was
$2,200,000
242,960
report for 1891-92
In V. 55, p. 637.
1888-89.
1889-90.
1890-91.
1891-92.
$
Revenues
$
s
$
.20,783,194 22,387,029 23,034,321 23.706,405
Oper.exp'8,rent.,t'xes,&c.l4,565,153 15,074,304 16,428,746 16,307,857
for the year.
. .
Netproflts
6,218,041 7,312,725 6,605,585
4,309,520 4,956,008 4,309,606
755,686
875,135
891,218
39,982
40,000
39,991
Dividends paid
Interest on bonds
Sinking funds
7,398,547
4,309,639
890,532
39,991
Total dlsbur.sements.. 5,105,188 5,871,143 5,240,826 5,240,161
Balance of iirofits
1,112,853 1,441,582 1.364,759 2,158,485
Bur. Julyl (beginuingy'r). 7,498,489 8,611,402 10,052,983 11,417.742
Total nom. surp. June
30 (end of year).... 8,611,402 10,052,984 11,417,742 13,576,127
The following table shows the property and business of the company
at different periods
MUos of Miles of No. of
Year. PolesiCbl's. Wire. Offices. Messages.
Receipts.
Profits.
1866-67.. 46,270
1869-70.. 54,109
1879-80.. 85,645
1890-91.-187,981
1891-92.. 189,.576
85,291
112,191
233,534
2,565
5,879,282 $6,568,925 $2,624,919
3,972
9,157,646
7,136,737 2,227,965
9,077 29,215,.509 12,782,894 5.833,937
715,.591 20.098 59.148,343 23.034.326 6,605,585
739,105 20,700 62,387,298 23,706,404 7,398,547
Directors for 1892-93.—Norvln Green, Thomas T. Eckert, John T.
TeiTy, John Van Home, Jay Gould, Russell Sage, Alonzo B. Cornell,
Samuel Sloan, Roliert C. dowry, George J. Gould, Edwin Gould, John
G. Moore, Henry Weaver, Percy R. Pync, Charles I.anicr, Austin Corbin, ,1. Pierpoiit Morgan, Frederick L. Ames, John Hay, William D.
Bishop, C. P. Huntington, George B. Roberts, Sidney Shepard, Erastus
Wiman, Charles F. Mayer, Chaiiuoey M. Depcw, James W. Clendenln,
Henry M. Flagler, Heurv B. Hyde, W Murray Crane. Office, 195 Broadway, New York city.— (V. 53, p. 368, 567. 881 V. 54, p. 158, 447,561,
965 V. 55, p. 463, S45, 63 T, 72 1, 755, 806.)
.
;
;
Westlnehonse Electric
& mannfacturinK
Co.—OroanizaTION.— This company has a charter granted by the State of Pennsylran'a. Its business consists of the niauafiicture and sale of dynamos
for isolated and central station lighting, motors and generators for
stationary work and street niilways, are and Incandescent lamps, and
a general line of appliances used in the commercial appUoationa of
electricity for lighting and power purposes.
The company owns a valuable factory plant in the city of Pittsburg
Pa., on real estate free and unencumbered, and employs about 1,000,
men in Us various departments, and operates, uuder lease agreements,
the factories of the United States Electric Lighting Company at Newark. N. J., and the factory of the Consolidated Electric Light Company
in West Twenty-third Street, New York City, in the name of the Sawyer-Mann Electric Company, employing la both of these taotoiieB an
average of some 800 employees.
.
.
INYESTOES' SUPPLEMENT.
163
Siibiicrlberit
will confer a great favor by glTlns liunicdlate notice of
MISCELLAJVEOUS.
For osplauatiuu
ul coluiim lieadiugs, &c., suu nutes
first i)age of tables.
on
Weatinghouse Eleelric <* Manufacturing.— (OoiicUided.)—
First preference stock, 7 per cent, cum. (see remarks)..
U. S. Electric Light Co. bonds (.$50,000 paid yearly) ....
Wheeling Bi-i(lge it Terminal, liii 1st M., gold
o*
Second mortgage (income till March, 1892), gold
—
Wheel. L. Erie
<t
PMsb. Coal— 1st M., gold,
red. at 105.. c*
any error discovered In tbese Xables.
Bonrf«— PrinciINTEREST OB DIVIDENDS.
pal, When Dueper When Where payable and by iStoeks — Last
Date Size, or
Amount Rate
of
Bonds Value. Outstanding Cent.
WMIebreasI Fuel— Common stock
Preferred stock
Gen. M., (now Ist) gold, s. f., $30,000, drn. at 110.c*Jtr. 1888
Iowa & 111. Coal 1st M., gold, guar., s. f., red. at 110. .o' 1890
WinotiaSritlge—lBt M., gold, s.f., red. at 110 aft. Mar '98. 1890
1,000
1,000
1,000
100
100
A
Dividend.
July 1, 1893
In 15 years.
Dec. 1, 1939
Sept. 1,
Jan.
Oct.
1
1,000
1,000
1,000
Under a reorganization of the company, consummated in the latter
part of 1891, the stockholders of the above-mentioned companies were
allowed to exchange their stock for stock In the Westinghouse Electric
Manufacturing Company, and 14,624 shares of the United States
iElectric Lighting Company (out of a total of 15,000), and 23,771 shares
•of the Consolidated Electric Light Company (out of a total of 24,264)
availed themselves of this privilege to date.
Capital Stock.— The capital stock of the company is $10,000,000,
of which there is preferred and assenting stock of $9,727,450, and common stock (outstanding), .$272,550. All classes of stock have same
voting power. The first preference stock carries cumulative dividends of 7 per cent per annum, with right to participate equally with
other stock after the same shall have received 7 per cent, and prefer-
Whom.
Payable
$4,000,000 7 per an. J. & J. N. Y., Office, 120 B'way
650,000
6
2,000,000
J. &"d. Dec. '91 coup, last paid.
1,500,000
M. & S.I
None paid.
984,000
5 g- J. A .1.1 N. T., Central Trust
780,000
See rem. N. Y., Office, 18 B'way.
31a
520,000 8 per an. F. * A.
do
do
510,000
,r.
& I). N. Y, Atlantic Trust Co.
600,000
.r.
& D.
do
do
375,000
5 g. M. & 8. N. Y., J. Walker & Son.
$50
1889
1890
1889
(Vou LV.
Aug.
June
June
Sept.
1,
1,
1,
1,
1,
1,
1940
1919
1891
1892
1908
1920
1919
and Swan, Marion County, Iowa. Also owns 10,500 acres coal land
Bureau County, 111., and leases for 17 years the property
of the Iowa and Illinois Coal Company (19,804 acres coal and 360
acres surface) and guarantees its bonds. See application
to
New York Stock Exchange in ftill, Chronicle, V. 45, p. 676. The Iowa
& Illinois Coal Co.'s bonds are guaranteed as to both principal and
interest. They are redeemable $20,000 yearly at 110, and on June 1.
1907, the whole issue may be paid at same rate. Report for 1890-91
in
was in V. 53, p. 367. Total stock authorizfd, $2,000,000.
Earnings.— July 1, 1892, to Aug. 31,1892, net earnings were $9,893,
against $5,853 in 1891. About $1,500 deducted from earnings in July
and August of 1892 and placed m the equipment and real estate sinklug funds. To make a fair comparison it is said this should be added
to the net earnings for that year.
ential as to principal.
In year ending June 30, 1892, gross earnings were $1,064,639;
Dividends.— On preferred stock an interim dividend of 1 per cent
net, $165,721, against$183,284 in 1889-90 interest, $32,400 sinking
was paid Feb. 1, 1892 in July paid 3^ per cent.
fund, &c., $26,187; dividends, $91,000; surplus for year, $16,134.
Earnings. The sales of the company, including the sales of the
N. Y. Office, 18 Broadway. (V. 53, p. 367, 881.)
leased companies since they came under its control, were In year
H^lnona Bridge.-Owns bridge over the Mississippi at Wlnonat
1890, $4,289,087 in 1889, $3,618,379; in 1888, $1,288,569 in 1887.
$8 74,657. The statement to the N. Y. Stock Exchange, giving the bal- Minn.; leased to the Chicago BurUngton & Northern, wTnon-i & Southwestern and Green Bay Winona & St. Paul. The sinking fund begna
auoe sheet etc. will be found in V. 54, p. 763.
Directors.— Brayton Ives (Chairman of the Board), Charles Francis Mar. 1, 1898, after payment of 213 p. c. yearly on stock. V. 53, p. 437
Ailams, Lemuel Bannister, August Belmont, A. M. Byers, Charles Fair
ohid, Marcellus Hartley, G. W. Hebard. Henry B.Hyde and George
Westinghouse, Jr President, George Westinghouse, Jr.; Vice-PresiGO'S.
dents, Lemuel Bannister, George W. Hebard Treasurer, P. F. KobbA.
(Bee Chronicle of July 30, 1892.)
N. Y. office is at 120 Broadway. (V. 54, p. 763 V. 55, p. 551.)
;
;
;
—
—
:
;
;
,
NEW YORK AND BROOKLYN TRUST
;
;
&
Terminal Rallivay.—This company
Wbeellns Bridge
•owns a railway bridge at Wheeling, West Va., completi'd in 1891 and
about 5 miles of terminal track, oonuocting with Cleveland <fe Pittsburg, Cleveland Lorain & Wheeling and the Wheeling A Lake Erie on
Ohio side, and the Baltimore & Oliio, Cleveland Cinemnati Chicago &
St. Louis and Ohio River Railway on the Wheeling side. The portion
•of the system in Ohio was constructed by the Martins Ferry Tt-rminal
-Co. with funds furnished by tho W. B. & T. By. Co. and the Construction Co. On compl tion of the Martins F^rry Terminal prop rtv in
1892 these claims, amounting to $298,990, wnre assigned to B. H.
•fit-arns of Boston, who, as trustee, is foreclosing the mortgage under
which the advances werrt made. At the for>^closure sale the property wlU bB acquired by tho W. B. &. T. Ry. Co. and will become subject to the mortgages described in the tabl-< above. This is the only
fort-closure suit in progr. ss. An ext-nsion of 3 miles from Wheeling
to B nwood, where there are iron and st^el plants, is under consid-
Surplus
Capital.
Companies.
1
&
Par Amount. Jun 30,92 Period.
'
Dividends.
Profits
'90.
100 500,000' 740,196 Q.-J. 12
100 1,000,000 1,435,810 Q.-J. 16
100 1,000,000 5,133,529 Bi-mon 35
100 500,000 293,503
Farm. L. & Tr. 25 1,000,000 4,015,616 Q.-F. 2,4
Franklin
100 1,000,000 646,905 Q.-J.
6
Hamilton
100 500,000 310,815
Holland
100 500,000 540,068 Q.-F. 10
Kings County. 100 500,000 438,914
3
Knickerbock'r 100 750,000 337,409 J. & J.
-.
eration. (V. 54, p. 162.)
Longl. L.,.tTr. 100 500,000 260,049 Q.-J. 9
Manhattan
30 l,000,000i 278,262 J. & J.
HTheellng: E,akel Erie Sc Pittsbnrg Coal.—Organized Aug. Mercantile
100 2,000,000 1,631,372 J. & J. 8
7,1888, to work the coal in Jefferson County, Oliio, ad|)aoent to the Metropolitan 100 1,000,0001 863,575 J. & J. 6
Wheeling & Lake Erie Railway, by which company it is controlled. Nassau
100 500,0001 166,706
«
Owns upward of 6,300 acres of coal and has four mines in operation, N. Y.Guar.A I. 100 2,000,0001 764,173
each thoroughly equipped. Capital stock is $1,000,000, of which N.Y.LM.&Tr.'lOO l,000,000l 2,226,684 J. &D. 25
is owned by the Wheeling & Lake Erie Ry. Co.
4*670,000
There is a N.Y.Sec.&Tr. 100 1,000,000 866,636
sinking fund 5 cents a ton for which the bonds may be called for pay- People's
100 1,000,000 740,356 Q.-F. 3
ment at 105 and interest. For six months ending Dec. 31, 1891, out- R'lEst. L.&T. 100 500,000 288,765
put of coal was 302,755 tons, and net earnings were $45,869. In State
100 1,000,0001 764,870 F. &A.
years 1890-91 coal produced was 391,757 tons; net Income, $43,415. Title Gu. & Tr. 100 2,000,0001 636,329 J. & J. 5
—(V. 54, p. 367.)
Union
10(1 1,000,000,4,094,070 Q.-J. 20
nriiltebreast Fuel.—Owns 2,797 acres and leases In perpetuity United States. 100 2,000,00018,470,251 J. & J. 25
S80 acres coal land at Cleveland, in Lucas County, and at MarysvUle Washington 100 500,0001 365,048
Atlantic
Brooklyn
Central
Continental
'91.
Last Paid.
12
17
50
Oct., '92. 3
Oct., '92. 5
Nov., '92. 5
25
Nov.,'92,10
2
New.
.
.
.
.
.
%
Oct., '92.
8
....!Nov.,'92.
10 Nov., '92.
6 Nov., '92.
3 July, '92.
8
[Oct., '92.
1>«
2>«
3
3
2
....July, '92. 2i«
10 July, '92. 5
6 [JiUy 15,'92.3
6 Aug., '92 3
New.
June ,'92.15
New.
8 Nov., '92. 2
....1
New.
....
25
....|
5
'20
25
....
Aug.,'92. 3
July, '92. 3
Oct., '92.5
July '92.16
New.
. .,
. ..
. ..
.
'
'
,
NovKMBiB,
CITY BANKS.
(*
OOXPANKS.
Dividends.
at latest
Period. 1890. 1891.
dates.!
Par Amonnt.
NEW TOBK
Indlcatea State bankg.)
Surplus
Capital.
Latest
1
Am. Exoh..
.
&.
:)
Astor Place 100
250,(K)0
300,000
250,000
75,500
515,500
564,y00
308,200
9„500
577,800
100,800
&N.
2i»2,it0t)
Bk.otUep'sit 100
July "92. 4
Not. '92. ZH
3.
3
12
July '92.
July '92.
July '92.
July '92.
3
J. & J.
12
6
100
Bowery'^
J. & J.
16
18
8
25 1,000,000
Broadway
J. St. J.
4
8
8
Butoh'B'&Dr 2.5 300,000
100 100,000
Canal St*...
& J. 7
7 July 92. 31a
100 2,000,000
Central
& J. 10
10 July 92. 5
100 500,000
Chase
12
16 Oct. 92. 4
25 450,0«) 873,.500 Q.-J.
Chatbam
100 300,000 983,400 Bi-m'ly. 150 150 July 92.25
Chemical.
7
7 July 92. 31a
25 600,000 446,200 " & J.
dtlzeng'
15 Nov. 92. 5
100 1,000,000 697,300 M. & N. 15
aty
45,200
5
6 July 92. 2
100 300,000
CUnton*
New.
27,300
100,000
Colonial* ...
6 July 92. 4
100 300,000 284,700
Columbia*
519,700 J. 4 J.
8 July 92. 4
Commerce 100 5,000,000
260,200 J. & J.
7 July 92. 3
Coutineutal, 100 1,000,000
Aug-; 92. 6
12
Ct>m Kxcli.' 100 1,000,000 231.600 F. & A.
July 92. 4
East River.
25 250,000 139,800 J. & 3.
Sept 92. 5
41,800
East Side*.. 100 100,000
July 92. 4
8
25 100,000 225,000 J. & 3.
lltli Ward*
94,400
Emp. State*. 100 250,000
6 Julv'92. 3
100 200,000 293,400 J. & J.
Fifth...
75 Oct '92.25
100,000 909,300 Q.-J.
Fifth Aye*.. 100
First
100 500,000 ,030,500 Ci.— J. 100 100 July -92.25
7
7 July '92. 3I3
Fourth
100 3,200,000 ,875,000 J. & J.
81,700
14th Street' 100 100,(XK)
12 Oct '92. 6
Qallatln
50 1,000,000 ,569,000 A. & O. 12
41,100
Qansevoort' 50 •200,000
Gartteld....
50 200,000 469,800
Au(f.'92. S"*
Germ'nAm.' 75 750,000 276,100 F. & A.
May '92.16
Germ'n Ex.' 100 200,000 581,900 May.
Nov. '92. 5
Germaiiia*. 100 200,000 544,900 M. & N.
Nov. '92. 3
Greenwich* 25 200,000 163,900 M. & N.
7,300
Hamilton' 100 200,000
100,000
20,400
H'rl'mKiv.'
JiUy'92. 31a
Hanover.
ibo 1,000,000 ,794,300 J. & J,
(New)
58,600
Hlde&L'th'r 100 500,000
May '92. 3
100,000 109,900 M. & N,
Home*
100
Hud River' 100 200,000 160,'2OO
14
14 July '92.10
Imp.ife Trad. 100 1,500,000 ,514,800 .1. & J
July '92. 4
8
8
Irving
50 500,000 330,200 J. & J
10 July '92. 5
565,100 J. & J 10
Leather Mfr. 100 600.000
22,700
500,000
Liberty
Aug.' 92. 4
Lincoln
100 300.000 391, .500
Madison Sq." 100 500,000
Jan.''87. 3
194,600
,6v 0,400
7
7 Aug.' 92. 313
Manhattan
50 2,050,000
Mkt & Fult. 100 750,000 808,500
8
8 July''92. 4
July''92. 4
8
8
Mechanics'
25 2,000,000 ,009,300
10
Mech. & Tr
8 July''92. 4
25 400,000 434.700
6
6 JiUy'92. 3
Mercantile 100 1,000,000 ,046,200
Merchants
7
7 July '92. 31a
50 2,000,000 997,200
6
6 July''91. 3
Merch. Ex
50 600,000 107,400
10
10 June'92. 5
>iotro polls* 100
300,000 725,800
6
250,000 333,100
6 July 92. 3
Mt. Mon'is* 100
16
16 Oct. '92. 4
Murr'y Hill* 50 100,000 398,600 Q.-J.
28,300
Mutual* ...
200,000
Nov. '92. 4
Nassau*
8
100 500,000 275,700 M. & N.
N. Amst'm* 100
250,000 101,400
10 July' 92. 5
New York. 100 2,000,000 .963,500 ,!..& J. 10
N. Y. County 100 200,000 559,900 J. & J
8
8 July 92. 4
162,100 F. & A.
6
6 Aug.' 92. 3
N. Y. N. Ex 100 300,000
Ninth
7
100 750,000 201,100 .1. & J.
31s Jan.' 91. 31a
57,600 J. & J.
6 July' 92. 3
Nlne'thWd 100 100,000
6 July '92. 3
N. America
70 700,000 630,900 J. & J,
10 July 92. 5
Oriental*
25 300,000 421,300 J. & J.
Nov. '92. 2
8
Paclllc* ...: 50
422,700 447,900 Q.-F.
10 July '92. 5
Park
100 2,000,000 ,897,700 J. & J.
10 July '92. 5
People's* ... 25
200,000 330,800 J. & J.
6 JiUy 92. 3
Phenix
20 1,000,000 448,000 J. & J.
New.
99,900
Plaza*
100,000
& O. 5
6 Oct. 92. 3
Prod.Exch.* 100 1,000,000 305,200
July 92. 4
&. J,
Kcpuhlic ... 100 1,500,000 876,400
8
8
41,200
Riverside*. 100
100,000
"6
July '92. 3
"e'
St. Nicholas* 100
500,000 129,400 ,r. & J,
6I2 Julv'92. 5
Seaboard
100 500,000 205,700 J. & J,
61a
10 July '92. 5
Second
100 300,000 4G5,.500 J. & 3 10
78,900 J. & J,
6
6 July '92. 3
Seventh
100 300,000
Hhcrman*... 100 200,000 100,200
July '92. 4
259,400 J. & J
Shoe & L'thr 100 500,000
8
12 JiUy'92. 6
Sixth
100 200,000 347,400 J. & J,
6 July '9-2. 3
Southern
100 1,000,000 142,000 .1. & J,
18,600
State*
100 100,000
StateofN.Y' 100 1,200,000 520,000 M. & N.
6 Nov.'92. 3
July '90. 213
Third
85,400 .1. & J.
100 1,000,000
'24
July '92. 2
Tradcsmens 40 750,(X)0 199,100 J. <& J.
94,700
Twe'f.Ward' 100 200,000
23d Ward* 100 100,000
11,200
Union 8q.* 100 200,000 169,300
8 Oct '92. 2
U. States.... 100
500,000 527,300 Q.-J.
8
July '92. 3
Western
5
100 2,100,000 246,700
2
West Side*.. 100 200,000 266.900 J. & J. 12
12 July '92. 6
t Sept 30, 1892, for^atlonal I)ank8 and Sept 22, 1892, for State banks.
.
Net
.
.
.
American
1,000
. .
Bowery
Broadway
.
50
25
25
20
100
100
40
100
50
100
50
50
25
.
Citizens'
Com'nw'lth
Continental.
Eagle
Empire City.
. .
Farragiit
. .
German Am.
.
.
. .
Genuania
Globe
Greenwich
Hamilton
.
.
.
15
. .
Hanover
50
100
20
100
50
Home
Kings Co ...
Man.ABulld.
Nassau
37-50
National
Niagara
North River.
50
25
25
20
50
2»
25
25
10
50
Paciflo
Peter Cooper
Phenix
Rutgers'
. .
Stuyvesant
Unit'd States
Wcstchcst'r.
Williamsb'g.
Over
*
DiVIOEllDII.
Suirplus,
COMPAMIKS.
Alliance..
1«3
CITY FIRE IK8UBANCE COMPANIES.
Capital.
%
Par.
,000,000 2 105.000
100 >,ooo,ooo 223,200
America'...
3
2
1
..
..
.
BANK, GAS, mSURANOE AlTD HORSE BAILKOAD STOCKS.
1883.]
NBW YORK
—
.
.
.
Jan. 1,
1892.'
Amount
Last Paid.
1889. 1890. 1891.
376
200,,000
400,,000 242,,167 10
300,,000
52,,945 9
200,,000
150, 992 10
300,,000 228, 149 61a
6
500,,000
35,,461
1,000,,000 1,645,,761 14
300,,000 660, 312 10
200,,000
38, 304 6
200,,000
41,,096 10
1,000,,000 2,255,,389 20
913,,959 10
1 ,000,,000
•2(K),,000
36,,642 10
112,,431 10
200,,000
1.50,,000
25,,247 6
4.55,,438 10
1,000,,000
3,000,,000 1,170,,148 10
166,,537 12
150,,000
38,,166 6
200,,000
212,,135 10
200,,000
8
200,,000
7,,180
320,,783 10
500,,000
13,,020 6
350,,000
250.,125 12
200,,000
150,,000
167,,103 12
510,,721 6
1,000,,000
100,,100 10
200,,000
200,,000
48,,005 7
213,,467 12
250,,000
421,,802 10
300,,000
612,,476 •20
250,,000
10
6
8
10
6
Jan., '91. 8
July, '92. B
July, '92. 3
11
11
Aug., •92. 5
July, •92. 3
July, •92. 3
July, '92. 7
Apr., '92. 6
July, 91. 3
July, '92. 5
July, '92.10
July, '92. 5
July, •92. 4
July. '92. 5
July, '91. 3
July, '92. 5
July, '92. 5
July, '92. S
July, '92. XH
July, '92. 5
July, '91. 3
July, '92. 5
Oct., '92. 3
July, '02. 6
Aug., '92. 5
July, '9'2. 5
July, •92. 8
July. •92. 3
July, '92. 5
Aug., •92. a
July, '9'2.10
6i8
61*
3
14
14
10
121a
6
10
10
20
20
10
10
8
10
6
10
10
12
6
10
8
10
6
10
10
12
6
10
7
10
10
6
12
12
10
10
6
61a
11
10
20
11
11
10
10
6
10
10
20
Including re-lnsuranoe, capital and scrip.
all liabUltles.
NEW YORK AND BROOKLYN STREET RAILROADS.
See earnings and balance sheets in CnRONicLE, V. 53, p. 325, 408,
436. 527, 604 V. 55, p. 214, 255, 297, 372, 420, 461, 468, 597, 638.
;
.
*
..
.
. .
.
.
.
.
.
.
.
NEW YORK AND BROOKLYN GAS
COMPANIES.
Amount
Par.
Period.
90. '91.
'Date.
%
Nov., '92.2
Aug., '92.2
Brooklyn G.-L.—Stk.
Central— Stock
2
$2,000,000 Various 7
4
50
500,000 F. & A 4
4I9 JiUy,1892.2
Citizens' G.-L. (B'kln)
100 1,750,000' Various 4
5AH 1895-1940
Bonds (Sec Mlsoel.)
1,250,000 Various
fl
Sep. 15'92.1i2
Consolidat^Ml SU)ck.
100 35,430,060 Q.-M. 5
May, 1908
5
I)el)enture bonds.. 1,000 1,500,000 M. & N. 5
Aug.. 1901
Metropol'n— 1st M. 1,000
950,000 F. & A. «
«
Equitable— Stock.
«
8 Oct 15, '92.2
100 4,000,000| Q.-J.
1st iiiortttage, gold l.OOO 1,000,000 F. & A. 6
5 Aug. 1, 1899
Mar. 1, 1932
Consol. M., 58, gold 1,000 i.(;f)0,ooo M. & S.
Fulton Munic— Stk.
100 3,000,000 Q.-J. lO" 91a Oct 15, '92.2
Bonds, red. at 100. 1,000
« Jan. 1,1900
300,000 J. & 3. H
Mctrop. (B'kln)— Stk.
870,000 J. & J. 6
100
51a July.1892.3
Mutual (N. Y.)— Stk. 100 3,500,000 J. & J. 4i« b July 10, '92.4
1902
6
1st M., red. at 100. 1,000 1,500.000 M. & N. 6
a Oct., 1892.11a
«
Nassau (B'kln)— Stk.
25 1,250,000 Q.-J.
Co.'s option.
5
Scrip
700,000 M. & N. 5
Var'8
« Sep.ismiia
People'8,(B'kln)-Stk.
10 1 ,000,000 Q.-M. 6
May, 1907
5
1st M. red. at 100. 1,000
400,000 M. & N. 5
Apr., 1900
«
lJel)(>nture, 10-208. Var's
94,001; A. & O. 6
Standaril, ])ref.—fltk.
5
100 3,500,000 Quar.
3% Apr. 1, '92.1 la
Oct, 1892.11a
WUllamMl)urg
H
7
90 1 ,000,000 Q.-J.
6 Apr. 1.1900
1st mortgage
1,000 1,000,000 A. A O. 6
* Tll'f <«"1"'PB TTi"»f ]«'* iHyl'lAiirl nn nl^.lct^ and maturity of boniU.
—
.
. .
.
i
,
Par.
Amount
Period.
Rate.'
Date.
90. '91.
Atlantic Av.(B'klyn) st'k
1st mortgage
Consol. mort., gold
So. Brook. Cent. IstM.
'2d
mortgage
Bleecker Street— Stockll
1st mortftage
B' way & 7tli A v.—StockH
Ist mortgage
2d mortgage
B'w'ySurf.-l8tM.,guar
2d M.,
int.
as rental.
So. Ferry KK. IstM.gu,
Broadway (Brooklyn)
.
.
Ist mortgage
Ist M., Yates Av. guar
Brooklyn City— Stocky.
Gen. M., red. in 1916
B'klyn Crosst'n 1st M.
Gr. St. & Newfn Ist
.
M
Cal.Cem.O.P.AB.lstM
New.Wuisb.&Fl't. IstM
G.P.&Lorinier St.lst M
Brooklyn City
& Newt'n
Consolidated raort
Brooklyn Heights
50 1,143,750 Q.-J.
500 140,500 M. AN.
A O.
A A.
A A.
100 900,000 J. A J.
1,000 700,000 J. A J.
100 2,100,000 Q.-J.
1,000 1,.500,000 J. A D.
1,009 500,000 J. A J.
1,000 1,125,(K)0 J. A J.
1,000 2,000,000 A.
500 125,000 F.
500 150,000 F.
1,000 1,000.000 J. A J.
1,000 350,000 A. AO.
100 525,000 Q.-F.
1,000 250,000 J. A J.
1,000 100,000 J. & J.
10 6,000,000 Q.-J.
500 &c 3,000,000 J. A J.
1,000 200,000 J. A J.
1,000 200,000 F. A A.
1,000 200,000 J. AD.
1,000 200,000 F. A A.
1,000 125,000 M. A N.
100 1,000,000 Q-F
1,000 1,000,000 J. A J.
100
1st mortgage
1,000
100
Central Crosst'n—Stock.
1st
mortgage
1,000
Cent. Park. N.&E. Rlv.c
Consol. mortgage...
Christopher & 10th 8t{
l8t mort., 5s, 6s & 7s
100
100
1,000
Cert.of dcbt.sub.to call 100
not s'bject 100
Do
100
Eighth Avenue Stock
100
Ssrip
100
42d & Gr. St Ferry—St'k
—
Ist mortgage
42d St Mau. & St N. Av
1st mortgage
2d mortgage income.
H. W. St.A Pav.F'y—St'k
Ist mortgage
Jamaica B'kijni- St'k.
1,000
Ist mortgage, gold
Metroiwlitjiu Traction.a
Ninth Avenue—Stock...
1,000
North
&
East River
Bonds
Second Avenue—Stock.
l8t mortgage
Debentures
Sixth
Third
1st
Avenue—Stock
6.
Avenue—Stock...
200,000
250,000 A. A O.
600,000 Q.-J.
250,000 M. A N.
1,800,000 Q.-J.
1,000 1,200,000
100
Coney IslaudA Brooklyn
1,000
1st mortgage
Debt certlf., red. 1893. 1,000
P.P. & Fl. IstM., ass.
"ibo
D. D. E. B. & Bat.— Stock
500 &c
1st mortgage
<fe
DlTldends and Interest.
OA8 COXFANIES.
Dividends and Interest
Railboads.
100
1,000
1,000
100
500
20
Debentures
B'way. 1st M., guar...
Union Railway-^tock..
1st mortgage, gold
A
D.
100 24000000
100, 800,000
300,000
250,000
100 1,862,000 Q.-J.
1,000 1,600,000 M. A N.
1,000
1.50,000 J.
A
J.
100 2,000,000 Q.-J.
100 5,000,000 M. AN.
J.
A
J.
600,000 Q.-F.
1,000 250,000 HL AN.
1,000 150,000 J. A J.
1,000 375,000 J. A J.
2,000,000
2,000,000
100
6
7
7
May
5
»«•
7
6
6
Oct, 1909
Aug. 1, '97
Aug. 1, '97
Oct '92,1 1»
1.
'94
%
1%
J'ly,'92,
7
7
8
10
5
5
5
5
5
5
5
5
Janl,1900
Oct '92,21a
June, 1904
July, 1914
July, 1924
July, 1905
Ap.1,1919
lia
5
5
61a
8
5
5
5
8
5
8
5
5
5
6
"5"'
5
Aug.,'92,2
Co's opti'n
do
Oct, '92,
July, 1941
July, 1908
1906
Jnel,1907
1897
1910
6
6
7
6
1
4
5
5
Aug.,'92.1
July, 193»
7
6
J'ly'92,1%
Nov., 1922
7
7
6
4
7
650,000 q.-3.
71a
180,000 A. AO. 7 Ac
500,000
NU.
300,000 J. A J. 5
410,000 J. A J. 6
•20,(K)0 F. A A
6
1,200,000 Quar.
8
840,000 J. AD. 7
<FAA, 6
1,100,000 !FAA.
5
1,000,000 CJ.-J.
9
1,000,000 F. A A
6
748,000 Q.-F. 15
236,000 A. AO. 7
2,,">00,000
NU.
6
1 ,200,000 M. AS
6
1 ,500,000 J. A J
NU.
1 ,050.000
500,(K)0 J. A J
7
197,480
415,000 J. A J
1,000 5,000,000
mortgage
Twenty-tliird St.— Stock
l8t mortgage
J.
%
t
6
414 See note
7
e.
Dec, 1902
Oct., '92,
7 Ac Oct., 1898
Nil. Oct., '92, 4
8
5
6
6
8
7
6
5
10
6
16
7
Jaul,1904
Jan., 1910
Aug., 1906
Aug.,'92.2
June,1893
Feb., 1914
Feb., 1914
Oct, '92,
Feb., 1914
May, '92.4
Apr., 1893
Nil.
6 Moh.,1910
6 Jan., 1915
NU. Feb., '86,
7 July, 1894
5
Jan 1,1 930
4
July,'92,
lia Ocf92,li»
In 20 y'rs.
Oct., '92, 1
Nov., 1909
Jan., 1909
July, '92,2
Nov., '92,
J'y 1, 1937
Ag.'92,2ia
May, 1893
Jan., 1906
1924
5g.Ag. 1,1942
' The figures in those coliunns represent for stock the rate per cent of
dividends, for bonds the rate per cent of interest per auuum.
t This column shows last dividend on «(ocfc», and maturity of bond*.
Leased to Twenty-third Street.
In June, 1890, leased to Central Crosstown at 8 per cent per annum
Leased to Houston West Street A Pavonla Ferry at 10 p. e. pe> an.
See V. 55, p. 177. 214.
5 Stock is to be increased to $12,000,000.
a —See " Miscellaneous Companies."
ft Leasejl to Houston West Street A Pavonia Ferry Company, rental 7
per cent per auuum from October 1, 1892—1 % per cent quarterly.
c Leased to H. W. S. A Pav. Ferry for 999 year*. Rental 8 per cent
on atoek tor 5 rears thereafter 9 per cent
II
J
IT
;
—
,
.
1
INVESTORS'
164
S[IPPLEMENT.
[VOULV
MONTHLY EARNINGS OF PRINCIPAL RAILROADS.
Jan.
At. Top.
& S. Fe Sy» —
t
Naroh.
t
April.
t
2,9ii,018
2,9i5,142
2,373,818
3,708^449
558,028
913,216
599,5J3
603,699
699,112
639,230
619,464
654,093
687,630
(P,995m.)
(a9M»ra.)
2,831,190
3,R24,9S1
.(8,l'»4m.)
3,2a0,128
3,261.298
1,909,319
1,924,758
1,903.453
2,045,108
1889
(1,109 m.)
1891. ...(7,114 to 7,ia4 m.).
(7.130 m.)
1892
8. Fr. (« H.(l,H55m.).
(l,8«4m.).
(l,8Blm.)
1890
St.
Feb.
t
1,894.983
2,221,313
2,987,111
2,941,818
2,654,239
2,899,013
1,979,175
3,279,192
3,473.848,
2.920,595
(7,lli!in.).
I'. <fc
1890
1891
1898
1,9,'>4.872
May.
Jane.
t
2,348,466
I
3,094,199
3,005,718: 3,523,543
Jaly.
Auff.
«
Sept.
Oct.
Not.
Dee.
»
t
3,010,758
3,1.37,549 3,358,832
3,429,:)59 3.332,331
3,609,491 •3,753,671
2,991,550
2,549,455
3,945,878
3,088,690
3,492,151
2.991,09 (
3, 134,092
8,408,426
770,618
3,0.52,138
2,741,978
3,072,880
3,307,682
2,688,785
2.932,415
3,090,613
890,665
948,065
•975,601
787,702
837,720
780,188
780,348
3,9.53,183
2.846.19.5
3,072,576
3,055,881
619,975
654.416
625,369
696,684
665.963
698,064
593,366
721.784
681,733
708,995
750,817
734,807
732,314
903,301
8.344,907
3,3.'7,9U
3,395,899
3,361,793
3,308,955
3,494,413
8,701,408
3,619,145
3,770.940
3,116.909
3,556,404
3,780,815
3,334,18s
3,684,878
3.839,478
3,928,899
3,896,379
4,310,729
3,908,161 4,887,538
4,268,758 4.334.396
4,618,313 •4,729,378
3,860,581
4,138,403
3,652,613
3,870,856
1,452.737
1,730.719
l,709.UiO
1,923,760
1.721.843
1,993,307
1,845.180
3,073,203
1,633,135
1,914,484
1,913,340
3,031,805
I
748,318
1,803.187
1.916,394
1,999.903
2,196.766
1.909,611
3,138,784
2,251,037
2„372,159
3,115,111
3,079,337
2,322,823
1,990,419
3,130.893
2,001,-252
3,'2-37,0d1
.965,860
8.037,083
2,322,94'i
2,119,008
3,176,156
161,145
170.374
310,576
162,332
200,115
185.722
218,399
159,582
169.406
181,441
193,973
199,960
331,541
•240,980
•218,805
330,311
219.353
233.006
•241,513
203,967
191,364
•831,191
213,3^7
312,379
212,707
295,139
•393,415
803,838
191,856
•224,778
189,528
155,891
176,486
187,830
192,142
316,188
371,994
3«8,851
336,497
228,339
370,894
30i,571
894,538
199,603
206.989
254,297
292,987
217,716
231,855
291,828
277,460
210,267
309,427
298,340
338,481
317,729
237,169
272,673
315,055
382,745
2N5,096
330,75
352,739
283,909
362,889
489.874
417,400
358,531
387,470
456,573
477,663
383,040
318,346
396,916
868,987
306,104
894,95"
844.046
946,257
1,138,623
1,233,960
1,510.039
1,589,799
1,187,427
1,106,099
1,3-.'0,48h
1,,3«6,;«0
1,908,30«
1,971,317
1,90^,920
1,70^,934
1,255.381 1,375,528
1,403,000! 1. 51 1,01 '0
1,90^,482 1,980,592
1,793,277 1,799,095
1,131,755
1,530,000
1,731,985
1,820,338
1,483,407 1,630,976
1.907,715 1,799,147
1,835,959 2,013,302
1,875,031 •2,094,000
1,473,695
1,734,490
2,031,0j0
1,265,801
1,648,491
1,914,814
1,312,597
1,317.759
1,334,528
1.310,938
1.369,036
1.293 331
1,306,043
1,311,944
1,186,281
1,237,344
1,250,443
1,194,099
1,306,160
1,312,977
1.408,413
1,173,311
1,231,893
1,231,471
1,111.607
1,179,897
1,188,408
585,437
643,893
769,751
877,318
638,874
728,011
839,187
1.002,370
881,297
683,3%
7l4,-239
705,734
569,681
680,349
685,508
639.62-
803,143
939,734
8:18,993
2,217,0-^9
710,i!09
839,39t'
951,881
Atch. &i Han Fran.—
1890
1891
I89i..
..
.
3,087,094! 2,789,241
41,493,861
43,906,110
Baltimore Sc Ohio—
(l,«Wm.).
1889
1890.. ..(1,883 to l,S94m.)
(I,8n4m.)
(2,039 m.)
1891
1898
v!.02J,"21
2,072.78-,i
2,219.077
2,096,536
Ball. <& Ohio !<oiithw.—
1889
1890
1891
1802
(2^1 n.)
(281 m.)
(1^81
m.)
(281 m.).
Burl. Ced. K.
180,5:iH
153,407
176,"22
•183,9.33
161,824
194,089
a 16,030
No.-
<fe
(l,04.im.).
(1,046 m.).
1891.. ..(1,048 to 1,083 m.).
1889
1890
(l,0-«m.)
1892
179,905
188,521
185,009
235,300
205,628
219,183
251,734
831,811
3,252.482
2,333,317
2,303,791
2,694,709 •2,312,867
Canadian Pacific—
1889.. ..(4,7-5 t. 4.957 m.).
1890. ...(4,957 to 5.&rt4 m.).
1891....(5,5t)4 to 5,731 m.)
(5.787 m.)
1892
Cent, of New Jersey—
897,928
1,034,132
1.365,221
1,609,102
1,338,494
1,458,389
1,044.918
843,908
893,974
8SJ1.703
1,089,190
943,394
900,688
906,607
1,019,341
980.334
1,979,709
1,081,950
1,080,031
1,193,H20
1,148,050
1,160,601
442,737
618,917
954,993
703,741
43i,659
577,066
633,075
705,135
439,007
371,524
693,960
684,821
407,777
591.403
670,407
672,236
474,603
640,997
681,354
407,996
605,041
680,813
755,387
1,916,205
3,717,408
2,329,830
3,008,799
2,412,332
2,589,410
2.337,904
3,098,385
2,657,998
3,190,747
2,489,279
2,813,759
2,74»,084
3,484,968
2,737,939
8,613,761
2,989,792
2,618,707
2,82i,975
8,6H4,060
2.740.5S3
3,909,199
3,389,295
2,671,746
3.731,399
3.791,495
8,314,136
3,338,718
3,019,289
S,16l,»40
3.720,196
3,180.677
3,244,168
3.713,138
4,133,398
3.464,584
3.533,053
3,880,730
2,997.578
3,872,181
3,511.110
3,199,778
2,815,732
(438 m.)
(4J« m.)
219,846
207,390
26i,755
296,820
311,574
186,029
217,415
398,307
311,008
209,843
380,078
343,183
813,333
309.193
341,939
•390,994
883,075
342,817
358,658
•408,064
342,353
320,291
279,503
333.119
888,494
896,357
344,798
•383,119
841,057
379.193
839,383
335,063
218,999
391,812
291,760
318,946
184,8.38
(4s8m)
314,310
319,814
278,410
299,920
1,955,910
1,794,411
1.949,199
2,420,917
1,979,608
1,793,149
1,878,993
3,80),103
2,019,897
2,077,754
2,131,893
3,741,011
1,819,531
1,998,996
2,105,560
2,428,017
1,929,768
1,977,398
3,149.068
3,309,552
3,716,999
3,313,693
3,3a3,989
3,867,006
3,760,012
3,550.195
2.714,928
3,093,909
3,109,376
2,951,840
8,905,771
3,479,959
3,333,520
3,737.377
3,097,548
2,251.919
8,007,204
1.949.876
3,147,814
2,584,77-
3,214,193
8,881,799
3,453,280
3,093,049
1,913,245
l.85i,333
1,K«3,407
2.339,702
1,500,879
1,758,092
1,707,841
2,299,183
1,893,414
1,837,256
2,20S,927
2,023,432
2,359,214
2,144,943
2.299,954
2,131.002
2,535,790
3.061,a&4
3,184,427
2,373,593
2,970,238
2.807,!i73
3,491,137
2,575,104
2,970,580
2,02H,078
2,49i,U69
3,!)63,12;l
2,747,10.S
3,183,964
2,183,179
2,583,817
3,092,325
2,979,807
3,940,023
3,278,597
3,301,430
2,813.453
3,3)8,971
3,763,891
2,79J,6.11
2,565,590
3,030,059
3,189,313
3,207,380
1,189.098
l,15b,476
1,09 7,487
1,292,543
1,184,137
1,154,917
1,022,872
1,431,438
1,442,708
1,335,9-9
1,319,863
1,403,388
1,128,034
1,239,209
1,397,815
1.336,431
1.213,422
1,495,011
1,231,798
1,256,899
1,212,018
1,138,511
1,287,992
1,470.910
1,354.263
1,375,109
1,378,9 9
1,475,167
1,712,710
1,549,758
1,740,315
1,722.319
1,793,005
1,759,431
1,789,477
1,915,240
1,894,235
1,319,512
1,333,133
1,482,99-
398,934
488,806
485,739
930,029
429,173
451,975
457,346
637.598
833,535
53b,917
550,411
747,878
480,584
53",075
670,630
628,505
481,441
814,957
378,612
572,461
478,734
483.233
879,274
768,987
807,594
539,939
636,562
739,682
576,160
596,173
689,329
788,483
889,897
691.910
862,313
870,83}
758,728
763,137
877,373
831,415
583,539
879,984
817,781
319,378
358,991
353,349
319,437
283,357
337,696
331,703
398,943
803,813
S3l,49»
347,303
34^,103
285,944
333.400
34 i.iii
828,998
394,418
391,477
332,022
344,901
383,817
387.332
343,404
349,595
328,076
340,191
392,508
359,338
366,094
404,401
873.543
364,393
333.516
405,355
387,330
383,337
383,.S74
413,<!80
4.17,113
378,590
382,793
390,327
378,909
381,710
393,630
160,800
177,353
159,995
148,544
145,420
130,073
154,654
138,828
150,099
128,143
141,983
155,238
170,304
148,800
143,963
160,846
173,713
156.931
131,273
189,564
183,173
193,059
165,354
180.757
179,597
180,307
163,693
154,837
141,999
139,894
147,797
141,469
129,073
143,360
145,449
148, 199
189,371
190,189
150,308
129,334
197,039
148,2M
149,9;15
691,462
778,593
735,945
681,285
895,080
873,058
671,252
757,438
635,387
858,378
6u8,419
674,124
892,254
893,959
698,713
628,719
877,566
778,089
942,544
948,933
869,793
720,999
959,820
641.493
623,051
631.473
726,478
706,740
682,600
790,399
698.519
695,633
708,093
778,949
795,996
704,931
837,028
844,473
889,311
785,292
819,390
809,737
848,763,
821,641
839,8.J3
830,403
1.017,992
1,079,89'
1.100,919
939,303
1,027,319
1,056,908
1,199,896
1,049,593
1,040,053
1,113,734
1,118,853
1,029,723
1,097,354
1,124,254
1,060,731
1,301,019
1,111,785
1,233,673
1,299,750
1,307,077
1,318,842
1,411,909
1,353,830
1,863,071
1,291,503
•1,351,197
1,199,883
986,595
1,109,497
1,2-38,003
1,183,492
1,338.899
m.)
m.)
m.)
m.).
199,479
164,411
209,277
347,599
174,112
193,019
178,170
321,930
171,183
812,744
229,440
331,894
160,654
858,378
330,979
285,929
106,7.53
197,431
240,990
282,150
278.67-
319.581
377.289
318.859
377,660
258,630
319,349
332,134
306,334
343,9?9
315,139
341,52)
•321,884
861,631
359,153
331,504
337,364
335,481
•315,309
844,390
303.837
887,587
393,0il8
1889... (1,481 to 1.517 m.)
1890
(1,499 m.)
1891.... (1.575 to 1,937m.).
13«a.... (1,637 to 1,943 m.)
573,592
909,491
95l.9i7
729,342
497,077
328,128
556,213
701,993
579,608
906.584
905,213
69S,733
581,046
639,493
647,792
759,548
981,827
683,493
699,208
756,903
711,199
775,284
7J4,093
810,017
768,211
770,576
718,835
819,448
714,063
945,408
754,813
839,079
807,998
823,710
818,320
872,189
851,241
•793,500
795,875
813,396
741,511
697,717
833,831
692,990
510,941
955,993
692,191
589,136
513,828
571,372
579,018
*92 1,535
509,960
583.990
597,915
•599,802
4.30,153
415,817
893,214
473,771
598,357
649,900
494,411
613,010
515,991
•488,319
535,074
877,081
538,761
550,aI6
•514,894
6.53,089
661,661
701,080
704,690
•381,531
634,188
658,070
638,220
6al.715
593,431
^35,495
660,854
624,873
•591,544
220,074
212,099
183.861
824,481
225,111
319,032
193,793
325,024
339,658
325,484
139,182
332,131
243.139
337,704
308,378
831,913
259,809
'288,427
210,307
349,441
251,391
8(r7.539
199,335
347,456
314,450
218,596
218,340
256,276
201,838
874,325
33^,469
230,4ir
187.430
220339
338,595
391,270
289,794
178,272
22ri,lll
171,507
352,454
873,717
963,331
889,339
1,024,959
l.lal,049
1,311,433
1,399,839
1,630,735
1,514,930
1,891,918
3,031,791
1,132,318
1,516,779
992,199
1,001,318
1,178,367
1,659,813
1,388,493
l,0tjl,841
918,109
1.026,241
1,142,663
010.499
833,531
1,444,930
1,-308,898
1,42.3,573
1,201.688
1,123,^80
1,411,343
1,630,082
1,754,083
1,839,185
1,762,331 •1,833,851
1,531,718
1,916,051
1,713,77
1,561,487
1,693,786
1,830,786
1,603, >)23
1,364,913
1,423,827
1,576,311
1,591,017
1,467,850
1,552,921
1,458,853
1,330,103
1,280.390
1,301,859
1,119,369
(627 to (152 m.).
(8rt0m.).
1889
18M0
1891
1892
(99am.)
(852 m.)
1,190,930
1,199.'206
1,271,838
1,343,398
Otaenapeake Jk O>ito—
1889
(754 to 981 m.).
(931 m.).
1890
(9H1 to 970 m.).
1891
..(970 to 1,209 m.).
189Sa.
& Uulncy—
.
Chic. Burl.
188«....(»,3tl to rt,520 m.).
1890
(6,520 m.).
1891. ...(6,497 to 9,«v)2 m.)
1892
(«.<i93
m.)
3,353,7^
720.8«
•900,143
3,524,47;'
Chic. i& East. Illinois1889
IHHO
1891
1892
Chlo. Milw.
(43dm.)
8t. P.-
<fe
1819
(5.978 m.)
1890. ...(5,978 to 5.850 m.)
1891
(5.?21 m.).
(5,721 m.)
1892
2i!7,a8r
337,-291
340,415
284.313
•303,338
2,1100,254
3,9.50,98't
Chic. Sc Northwo»t*n—
1889
(4,2.50
m.)
1890... .(4,250 to 4,258 m.)
1891.. ..(4,258 to 4.27.) m.)
1MH2
(4,273.0.)
Chic. R. Isl.
1889»
1890*
1891*
1892*
Pac&(3,257 m.)
(V«9m.)
(3,409 m.)
..(3,456 m.)
Ohlc. St. F.
& C».-
M.
(1,394 m.)
1889
1890
(1,.3»4
m.)
1S91....(1,S»4 to 1,4S1 m.)
!1,4SI m.).
1893
l,>tl0,318
OIn. N. O. <& Tex. P.(336 m.)
(339 m.)
(839 m.)
1889
1890
1891
1898
.(!i39m.).
Ala. Gt. Sonthern —
1889
1890
le91
189i
Whole
(299
(295
(205
(295
m.)
m.)
m.)
m.).
13'j,319
1,958,452' 1,847,489
l,935,810j 1,970,799
;,539,933
668,987
677,7-27
373,263
18-3,22 (
186,351
Erlaniier Sys.
(1,140 m.)
(1,140 ra.)
(1,140 m).
(1,140 m.).
18lr9
1890
1891
1892
CI. CIn. Chic.dsMt. L.
(l,9)im.).
1890
1891.. ..(1,632 to 1,837 m.).
(1.837 m.)
1892<J
Col.
1,3,30,114
Uock. V.
Tol.-
<&
1889
1890
(325
(325
(327
(327
1891
1802
Denv. dk Rio Grande-
last Tenn. Va.
Jtc
959,9.16
831,680
Ga.—
1889
(1,140
1890. ...(1,131 to 1.831
1891
(1,331
1892b. .(1,6U to 1,253
m.)
ra.)
m.),
m.j.
497,991
550,949
1,30.5,134
1,397,84
333, U7
Flint dc Pere i»lar«i.—
1889
IB90
I8BI
(379 m.),
(627 m.),
(927 m.).
(9.30 m.).
I89l!
353,965
242,108
223, 140
815,6J.t
Gt. North'n Syslem-
625,382
774,558
194,781
259,239
m.)
938,103
528,534
956,026
1,013,045
m.)
m,)
m,)
1,351,885
1,355,421
1,516,182
1,804,833
1,238,695
1,370,418
1,408,310
1,370,163
1,817,990
1,301.908
1,435,330
1,566,668
1,097,947
1,335,973
1,376,572
1,410,308
116,661
117,180
138,8il
152,681
14i,823
92,495
110,099
127,781
137,780
187,453
106.320
123,308
109,419
114,177
117,389
158,799
109,755
139,581
128,928
113,901
134,497
150,253
186,812
163,897
141,018
172,932
181.452
189,764
171,511
180,447
195,497
193,063
143,333
127,341
173,956
138,959
186,S22
146,039
130,292
178,652
146,409
135,00
183.711
186,431
342,715
251,998
383,279
302,321
311,338
236,835
363.333
307,358
352,508
353.454
879,o;s
184.643
233,373
830,953
893,135
188,097
357,192
351,429
353,068
180,876
231,410
238,455
292,391
209,624
(722 m.).
(722 m.).
807,003
300,165
293,189
398,149
819,191
353,323
331,500
311,427
898,898
318,318
332,143
280,983
308,583
•3)9,731
209,305
348,941
278,491
337.092
379.644
313,820
1889....(2,178 to 2,181 m.).
1890. ...(2,199 to 2.248 m.)
1891... .(2,248 to 2,»9rt m.).
1892 ..,(2.899 f, 2,9 i3 m.).
1,398,847
1,571,327
1,590,515
1,581,584
1,349,528
1,499.849
1,539,781
1,781,956
1,478,878
1,518,177
1,318,853
1,478,001,51)7,018
1,448,495
1,545,183
1,869,791
1,834,271
1,637,377
1,709,939
1,791,054
1,917,873
1,615,419 1,763,498
1,983,728 1,788,92)
1,823,109 1,993,0-38
1,907,123 •2,047,683
1,684.053
1,651,839
1,791.151
1,629,027
1,371,885
1,485,274
1,510,467
1,716,196
1,973,789
1,821,04)
1,758,407
1,382,680
1,577,218
1,496.504
l,707,97f
1,»3,416
1,552,0.39
177,420
169,^90
192,359
202,808
170,437
168,785
184,497
338,341
176,289
199,989
217,888
361,004
198.398
214,996
330,916
258.49b
201,727
231,424
239,299
283,175
314.330
340,657
373,370
991,257
817,152
345,616
277,201
331,159
243,989
890,251
378,479
•896,911
809,390
•331.981
•239,358
330,733
•221,990
•220,031
1:190
1891
1892
(3,i!82m.)
(3,342 m.),
(8,98.'
79.1,703
910.3>>8
9J9,3H
[Illnols Central.
1889. ...(2,767 to 2.873
(2,875
1891....(2,S75 to 2,884
1892.. ..(2,884 to 2,888
1890
Iowa oeatral1890
1891
1892
Lake Erie
1889
1890
1891
1898
LonisTllle
(497m,),
& Went'n
(389 m.).
(589to722m.l.
^ Nawhv.—
Lonlsv. N. A. •&
1889
1890
1891
1892
•
m.)
(509 m.)
(497 m.).
(497 m.).
1888
Approximate
Cnic-
(887 m.).
(537 m. .
(537 m.).
(537 m.;.
122,9.49
200.944
207,01)1
302,711'
1,259,013
107,80:
819,.139
1,663, 76-f
840,003
393,093
891,8-39
338,2771
flgnrea.
a Elizabethtown LexlnKton k Bif; Sandy, &c.. Included from July 1, 1883.
b Includes LouiHvllie Southern and Mobile & BlrmlDKham for first four months of 1892, but not for other periods*
e Brabraolnff corrections found necessary after monthly totals had been published.
d iBOludes ClDclanatl Wabash & Mlobtgan In 1881 froa July 1 and for the whole o{ 1893.
15-3,852
13,497.394
13,683,726
14,201,767
-..
1
. .
RAILROAD EARNINGS
KOTXUBEX, ISOi]
MONTHLY KARNESaS OF PRINCIPAL
Jan.
Feb.
Mexican Ontral—
.TIarch.
April
616.872
587,046
688,770
613,022
(
467,906
569,567
6;«,129
607,360
t
564,075
573,336
558,010
636,666
627,670
516.264
691,846
651,849
83,890
104,785
100,700
128,926
93.172
101.276
112,379
181,792
109,636
180,114
189,137
163,473
651,679
713,761
622,654
818,431
607,892
826,096
638,981
i,n42.6ea
2,074.472
1,882,329
2,137,412
284,203
291,637
328,086
286,178
Mar.
Jane.
165
RAILBOAD8-{Conolmded).
July
Aas.
Oet.
Not.
Dee.
t
•
t
t
^86,913
439.068
644.089
819,976
93,697
109,633
117,355
140.316
107 JOO
106.868
134.275
136,577
108.046
09,489
133,240
178,181
620,866
682,483
718,923
703.240
708,780
746,824
•46,875
737,499
778,618
683.820
796,H20
860,432
753,774
862,308
78,1,868
1,0.38,763
801,086
998,098
1,948,062
2,169,242
1,929,875
1,958,429
1,918,498
1,910.912
1,880,688
2,050,747
1,851,871
2,129,266
8,314,116
2,662,818
277,059
247,300
287,095
306,415
267,052
845,396
294,158
887.806
197,348
254,118
881,361
259,887
843,579
276,177
863,480
216.807
268,003
260,654
848,083
807,000
867,223
266,333
•243.840
324,767
891,848
233,874
•244,638
839,101
281,589
877,076
•873,741
293,080
308,686
357,713
887,878
276,627
279,316
298,628
434,707
890,839
271,182
306,996
419,498
868,888
877,144
299,337
410,964
887.892
898.050
305,378
418,116
259,176
275,359
306.359
400,986
899.808
841.167
630,464
430,835
388,640
366,868
493,357
417,786
800,810
860.007
479,966
448,127
809311
2,710,160
2,»2S,406
8,818,837
S.321,860
2,461,730
2,709,853
3,020,385
3,506,415
2,861,599
2,946,622
2,899,861
3,128.094
3,474,437
3,648,403
3,111.443
3,007.097
8,571,802
3,811,198
2,961,819
8,004,827
3,713,430
3,798,039
8.<00,9»4
3,398,298
3,4.36,316
2.813.&'22
3,216,li86
3,577,284
2,742,872
3.022.979
3.341,010
3,635,848
m)
1.9'Z4,29l
2,234,032
2,495,235
2..'j84.494
2,936,317
2,742,729
2,818.392
2.784,839
2,778,708
2,798,618
2.916,26H
2,677,501
2,526,259
2.2»l.'^8rt
2.497,070
2.44H.436
2,017,568
2,311,604
2.426.790
(1.637 m.).
(1.698 m.)
2,156,785
2,172.279
2.186.570
l,963,73.'f
2,»4.'i,7S7
2,n38,440
(1,63am.)
2,113,191
2,242.488
8,182,5r)6
1890.'.
1891
1.711,177
2,058,487
2,054,403
2,278,623
412,671
434,407
446,040
434,166
385,713
399,005
417,781
461,186
428,804
452,266
481,949
476,637
422,113
481,862
494,927
476,024
516,933
527,388
479,880
514,832
650,392
492.069
828,905
646,619
637,443
670,730
672,104
138,231
211.800
149,093
S0o,02u
217,821
190,021
830,804
251,918
174,693
828,080
881,484
190,180
240,309
306,118
191,639
278,515
J!01,'.«»9
240,083
298,185
361.388
81,470
91.029
102,722
106,302
120,759
98,478
182,096
101.G35
113.861
110,526
144,471
146,747
151,591
118.1H0
150,654
155,373
165,068
417,980
692,636
783,052
429,511
; 07,670
788320
764,819
769,558
1,853,413
1,923,073
laHVt .( 1 .3»7 to 1 ,627 m.)
(1,597 m.).
18»0e
1»»1«.. (1,527 to 1,803 m.).
189Iie.. (1,803 to 1,817 m.).
.
.
ninneap. <b
1889
1890
1891
Ht. I^oul*—
(38am.)
(363 m.)
(3«3m.)
(363 m.)
1898
Kauaas dc Texan—
nio.
.(1,775 m.).
1690
1891. ...(1,791 to 1,872 m.).
(1,872 m.).
1892
Mo. Pac.
1801
1892
Mt —
& Iron
(5,231
m.J.
(6,372m.;
Mobile Oc Uhiom.).
(887
(887
(687
(887
1889
1890
1891
'.892
m.)
m.)
m.)
651,6W
473,698
461,603
837,815
663,077
120,474
184326
151,831
178,483
I
498,884
Sept.
(
664,668
684,844
571,495
670,832
476.0X01
804.378
830,147
187,715
188,887
151,116
174,813
478,630
490,131
823,476
631,879
968,384
574383
793.844
•748.689
570.886
594.0J1
864.967
Total.
881,788
031.068
878.786
83?7Ji
.7J>»»
1.447387
1310.844
e,4»304
7374388
164.7N
128380
166,500
198,147
184,374
166,404
1,063.707
1,118,818
1,048,874
861.174
•946,488
•888,361
9.004304
<9,776.U0
8,464,118 •3,735,000
8,781,751 •8,788,000
8,486,480
8308344
36.818.108
388,340
843,862
388328
8,064.144
83^700
8»73tl:<
848.660
840,663
3.441347
848.870
808366
847302
8306,788
146,048
153,880
800,768
176304
170387
888.603
•194,784
386,681
898,878
I38S348
3,508.838
•3tf7,4H0
NashT. Chatt.dc
Ht. L.(85am.).
(862 m.)
(652 to 810 m.)
1889
1890
18910
1892d
(810 m.).
N. Y.C. &:Hud. Hlv.(1,420 m.)
1889
1890.. ..(1,420 to 1,4«S m.)
1891
(2,094 m.)
(2,096 m.)
1898.
N V.
W.-
L. Erie Sc
.(1,632 to 1.698
1892
N. V.dcNewKnar.rtflOm.).
1889...
v490m.)
1890
1891
1892
(490to508m.)
(508 m.).
& West'n-
N. Y. Ont.
1890
1891
1892
N. Y.
(424 to 47'* m.)
(478 m.)
(477 m.)
SaM.
dc
Wrst.-
3,383.97.S
2,472,480
(167
(167
(167
(157
m.).
m.).
m.).
m.).
103,24104,466
115,088
113,932
(501 to 638
(B.7 ti) ;,047
1891. ..(1.077 to 1,105
1892.,..(1.105 to 1,349
m.).
m.).
m.).
m.).
398,086
667,620
696,603
700,942
403,019
674.328
443,235
6'26.bSl
726,136
774,849
(377 m.).
(377 m.).
(377 m.).
(377 m.).
464.749
659,118
496.6nl
649,910
435,191
494,682
473,800
676,044
471,800
558,373
644,081
485,171
666,946
542,979
648,282
m.).
m.).
1,183,398
1,177,400
1,752.139
1,193,159
1,282,908
1,469,981
1,626,994
1,676,5«1
1,777 946
1,iHj6,261
m.)
1889
1890
1891
1892
WeMern—
Norfolk dc
1889
1890
e6.9o.S
770,012
126,
134,939
849,'.i97
Northern Central—
1889
1890
1891
1892
Northern
537,!lo5
338.066
481,980
888,888
888,887
440,708
484,689
1,78«,«8«
4,788,448
478338
3.113.406
3.099.681
4.040,988
8.981,W1 88.066388
8,088368 88,868341
4,060,980 44384,081
2.470,171
2,511,425
2,662,881
8,187,881
2,377,635
2,641,668
37318,088
8,890,289
618,984
668,784
683,790
63'<,S46
481348
478388
63W304
678,917
679,818
5'fl,716
488,778
600.014
8,0«»J8e
8328,080
280,098
286.899
355,836
215,466
882.705
308,201
34«,083
293,067
•293,146
814,681
855,183
208.4.35
8,481,508
3,066,787
140.301
149,799
167,706
160,486
146.865
147,812
149,743
162,557
123,274
146,716
158,124
163,932
134,512
163,228
159,151
138,345
145,118
113,798
184.838
1S0.04H
133.080
1,408,468
436,804
690,914
702,797
780,898
467,769
749,688
780,776
801,164
617.684
776,727
828,923
933,449
488,063
808,493
880,778
918,194
573314
527,818
771,195
837,608
50S.464
895,277
791.753
6387,188
8377,114
508,437
538,972
649,359
560,991
416,553
548,862
676,817
566.171
643,804
579,890
566.184
687,686
588,086
563,698
812,108
653,200
563.555
608,278
625,919
660,070
630.834
528.161
636.141
6 6,468
500,888
183,460
613,698
6,088,867
1,797,377
1,930,404
l,896,a32
2,060,069
1,925.394
2,015.316
1,960,476
2,196,298
2,091,471
2,120,068
2,054, i97
2,228,065
2,125,201
2,685.108
2,50rt.2kf2
2.922380
3,236,731
8,699,311
2,539,060
1,601,375
8,2" 1379
1,983,44«
24,402,761
81,965,484
414,687
396,468
404,96S
•397,323
361,888
S3H,«Oo
857,386
330,526
37»,008
4,060.888
4.139,968
4.217.887
2.504,1'24
4,046,502
4,061,441
8,278,919
4,128,0651 4,173.663
4,212,1151 4,289378
8,805,008
2,5K9,7f<3' 2,712,7!<»
809,339
870,387
•876,144
690386
661,679
389,768
247329
29,201,700
30,685,883
1398,088
1,83«.583
9,188,048
8.820388
I'aclflc—
1889. ...(3,447 to 3,514
1890....;;i,51>o to 4,162
1891 .. ..(4,192 to 4,:»2
1892. .. .(4,!- 32 to 4.379
m.)
21,741381
1,447334
1,638,018
1,878.678
1,761,451
1,632,188
1.964,771
1,902,772
1,784,375
m.).
m.).
m.).
m.).
318.922
319,788
328,213
359,578
889,265
308,388
305,9«4
332.623
308.563
364,708
348,427
298.459
314.650
309,242
297,378
313,970
362,001
332,7a3
310,117
896,683
303,965
304,927
302,017
311,078
320,410
356,388
329,546
412,606
411,104
418,238
422,344
396,691,
(All lines east of P. A E.)
t889t... 12.369 to 2,390 m.).
1890')'. .(2.390 to 2.485 m.)
1891t...(a,435 to 2,573 m.).
18921
(2,573 m.).
4,528,746
5,142,311
5,312,475
6,019,741
4.421,166
4,851,091
4.739,320
6,207,097
4,796,136
6.470,715
5,218.706
5,449,804
5,082,370
6,619,357
5,379,003
6,748,730
6,294,810
5,703,033
6.386,252
6,679,245
3,931,020
6.172,004
5.440.655
6,241,874
5,374,466
6.679.782
6,578,672
6.993,964
5,930,855
6.212,376
6,226,607
6.488,733
5,780,339
6,159,557
6,098,024
5,857,772
6,192,101
6,408,160
6,498,800
5.659,817
5,691,726
5,496,864
6,303,319
5.796,829
81,614,446
66,202,260
67,426,841
1,666,780
1,712,090
1,727,214
1,313,632
1,470,917
1,788,774
1,608,747
1,561,400
1,820,593
1,876,998
1,610,386
1,701,441
1,728,336
1.779,222
1,829,209
1,840,983
1,938,874
1,881,253
1,824.706
1.968,775
8,082,646
1,932,718
2,124.961
2.164,982
8,123,831
8,346,919
1.895,787
1,850,357
1.886.111
20,985,666
I.88I322
82.049318
1,917,296
1,151,266
1,443,761
1,632,041
949,088
1,145,647
1,778,028
1,804,627
1,354,963
1,780,966
1,395,577
1.305,696
1,630,304
1,490,071
1,523.333
1,041,002
1.802,406
1,663,421
1,851,606
1,795.841
1,879,463
1,833,499
1,747,847
1,947,729
1,971,337
2,097,116
2,318,289
1,902,648
3.151,800
2,6:3,133
I,|i89,4r2
1,808377
19.181308
8,419,943
1,784,423
21-489.780
2,717,986
3,155,851
2,262,697
2.B1»,564
3,566,802
2,713,374
2,906,363
3,671,859
3,072,573
2.916,023
3,331,745
3.218,406
3,302,555
3,470,211
3,469,494
3,636.824
3,S16,33^
3,716,752
3,572,552
3,911.504
3,993,984
4,029,888
4,473,230
4,067,571
4.373,731
4,980,052
3,863,2.^8
4,370,300
3.292,488
3,663,945
40.187.818
43,63»,994
920,217
881,870
919,059
1890 ..(3.0B1 to .i.U3 m.) '1,184,027 •1,063,400 •1,080,896
1891*.. (3,113 to 3,164 m.). 1,171,600 1,107,990 1,120,070
982,320 1,106,580 1.071,980
1892'
(8,184 m.).
834.866
888,791
1,001,460
1,053,725
992,132
1,136,473
1,311,620
1.219.020
1,183.896
1,163.035
1,158.230
11.980310
1,116335
1,048,119
1,195.071
1,175,514
1,205,440
1,021,580
1,107,020
987,430
942,326
811,724
923,949
963,931
800,844
930,863
•945,300
1,083,645
81,829
101,774
106,063
106,416
84,851
96.283
100,715
116,643
78,643
109,623
114,896
114,311
101,188
180,663
12l,!63
136,245
110.086
131.260
136,lj2
•189,070
126,480
146.271
108,633
104,287
183378
1'23,426
150368
125,316
136,190
1,110,438
1,836,810
1.434,186
336,8.'S3
388,683
386,639
447,131
5'.i6,S05
470,883
423,059
605,756
466,678
480.688
2.718.88H: 2,99.13'6
2,669,239 •3,005,666
Oklo Oi MIbsIbhIppI(623
(623
(623
(623
1889
1890
1891
1892
39'2,38e
408,008
410,328
322,81
PenuMTIvanla-
Fhlla,
<fc
;l,lU6m.).
(1,106 m.).
(1,173 m.).
1891
1892
Coal
5.592,8.35
JKeadloK-
1890
dc Iron
Co.—
1890
1891
18H2
1,887.C8'
l,88l>,849
Total both Co.'*—
1880
1891
1892
3.25U,'.i55
3,481.'270
3,768,902
Rich, ik DanT. Sya.18S«. ,.,2,»<i3 to 3,004 m.).
St. Li. A. dc T. U. Brs.1889
(242 m.)
(242 m.)
1890
1891
(242 m.;.
(^2 m.).
1892
St. I.ouls Southwest.
1889 ..(1,177 to 1,227 m.)
(lj!^2m.).
1890
(1,22am.)
1891
(1,222 m.)
1892
(247 m.)
(247 m.)
(250 m.)
1889
1890
1891
1«W2
(250m.)
Texas
di.
133'il.880
13,d663<MI
947,430
80,263
89,004
116,968
122,449
123,071
72,368
97,662
106,463
116,138
274.610
375,620
360,258
361,874
256.638
306,244
347,040
371,799
248,018
870,911
336,418
831,973
826,468
269,873
887,960
802,678
341,185
890,927
285,374
303,382
242,903
262.29^
276.046
292,043
271.562
307,441
322,516
•388,780
365,788
349,460
•394,116
•4-26,180
•313,300
60,119
87,243
90,700
121,402
72,234
77,354
85,140
130,188
83,144
112,718
108,471
149,310
85,201
105,912
114,952
137,418
104,474
126,040
170,948
129,930
106,707
111,163
167,925
184,048
182,154
140,864
167,038
303,457
131,804
138.094
168,416
192,799
139,546
161,000
182,777
239,118
180.890
173,013
1423C4
247341
300,672
3,514.772
3.133.414
3,853,191
3.516,431
3,148,623
2,979,952
3,312,369
3,420,876
3,452,029
3.552,032
3,709,440
3.728,651
3,664,768
3,895.742
4,051,980
3,960,473
4,026,134
4,079.519
4,288,917
4,132,297
4,398,789
4.765.806
4.892.207
4.700.651
4,624,136
4,960,050
6,238,664
4,128.033
3,743,327
3,752,620
3,751,971
4,164,857
3,941.225
8,802,898
4,210,418
4.483,770
3,658,4;i6
529,795
669,921
614.089
646,895
450,883
544,426
507,689
504,887
500,332
504,467
506,464
532.458
601,130
625,681
631.963
471,877
480,832
502,904
460.046
411,642
447,077
467,160
493,348
418,886
490,485
514,964
514,461
602,367
537,333
574,81"
680,761
613,800
581.691
S,6S0,2.t9
8,9:i4.369
3,88-<,696
86,316
98,986
109,cj97
eiouthern Pacific Co.1889. ...(6,946 to 6.052 m.)
1890
....(6,052 m.).
1891.... (6.226 to 6.461 bq.).
1892. ...(6,4:5 to 6,490 m.).
1,319364
1386,801
78,603
97,440
113,733
113,681
fauldc Ouluth-
rtt.
1,131,611
S.M50.5ti8
4,516,'25'
4,593,035
•148,470
490,96:
6;7.26-
186,788
602380
90.906
116.430
141,282
3,989,778
4,806.487
4.646,788
1.301.888
1.484324
1388.7(18
•248,621
4,3»5.6'26
3.708,884
4,010.696
4,767,968
4.134380
814,165
861,495
900,534
•796,148
785361
818,469
768.788
735.640
4,102,863
4,376,4S4
3,295,848 141,638303
8,760367 44.006,781
1,076.1
1.135,191
1,318,198
13,084,364
13,961,180
366389
4367,807
430.007
476,883
6,88a38«
48.343308
48.332.604
60.449.818
Faclflc—
18M9
1890
(1,497 m.).
(1.497 m.).
1881
1892
(1.497m.).
(1,497m.)
888,6'«)
860,116
6153a3
780,431
768,464
6.917,803
7,3m,710
7388,488
Union PaclBo—
1890
1881
1892
(8.076 m.)
(8,144 m.)
2,569,288
3,116,377
3,214,128
2,729,621
2,779,028
8,926,415
3.858,300
3J378,988
3,298,161
3,881,807
3,826,810
3,218,242
4.187,541
3,419,427
3,400,918
3,910,077
3,624,741
3,920,413
3,949.336
3,750,150
4,075,290
4,063,948
4,319,060
4,585,81s
4,4.S8.028
(8,14im.)
1890
1891
1892
(1.921m.).
1,121,909
1,134,705
1,000,316
996,188
1.052,968
937,784
1,038,648
1,128,160
936,839
944,630
1,087.850
1,066,348
(1,924 m.).
(i,9'24m.)
976,984
1,047,306
1,112,683
1,116,178
1,291,850
1,116,302
1,194,406
1,373,470
1,416,42"
1,198,632
1.386,142
1,406,142
1.278,076
1.333,631
1.111,780
1889
1880
1881
1882
(828 m.).
(828 to 867 m.).
(887 m.)
266,684
826,679
871,720
368.860
834,631
888,814
328,602
408,307
332,447
396,983
408,576
490,486
396.381
394.807
404.618
431.069
311.290
458,495
390,706
440,796
323,202
442,717
426,627
371,661
483,730
181,078
521.887
449,531
489,768
508,170
438.406
537.061
506.011
•567.601
Wabash—
994,852
l,0'28,3a8
966,869
Wloconslu Central—
•
Approximate
(86? m.)
lUinree.
t
And 86
miles of o&nal.
from earnings on aoooant of mail serrloe not allowed,
a Western & Atlantic Included from July 1, 1391.
e Bmbracuut corrections f onnd necessary aftor mmthly totala had b«
* Finnres are Rireo ia Mexloan oorrenOr,
Y 1863332 deducted
^
617,8421
502351
491,827
651,603
492389
562,028
4.711,681
1,203,980
419,888
467,745
461.641
536836a
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